Document:

Exhibit 10.1

 

EXECUTION COPY

 

U.S. $2,875,000,000

 

FOUR YEAR

CREDIT AGREEMENT

 

Dated as of June 14, 2011

 

among

 

PEPSICO, INC.,

as Borrower,

 

THE LENDERS NAMED HEREIN,

 

CITIBANK, N.A.,

as Administrative Agent,

 

JPMORGAN CHASE BANK, N.A.

and

BANK OF AMERICA, N.A.,

as Syndication Agent,

 

CITIGROUP GLOBAL MARKETS, INC.,

J.P. MORGAN SECURITIES LLC

and

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

as Joint Lead Arrangers and Joint Bookrunners

 

  

  

 

  

 

TABLE OF CONTENTS

 

Page

 

 

	
ARTICLE I  DEFINITIONS AND ACCOUNTING TERMS

	
1

	
Section 1.01

	
Certain Defined Terms.

	
1

	
Section 1.02

	
Computation of Time Periods.

	
9

	
Section 1.03

	
Accounting Terms.

	
9

	 	 	 
	
ARTICLE II  AMOUNTS AND TERMS OF THE ADVANCES

	
10

	
Section 2.01

	
The Revolving Credit Advances.

	
10

	
Section 2.02

	
Making the Revolving Credit Advances.

	
10

	
Section 2.03

	
[Reserved].

	
11

	
Section 2.04

	
Fees.

	
11

	
Section 2.05

	
Termination, Reduction or Increase of Commitments.

	
11

	
Section 2.06

	
Repayment of Revolving Credit Advances; Extension of Termination Date.

	
14

	
Section 2.07

	
Interest on Revolving Credit Advances.

	
15

	
Section 2.08

	
Interest Rate Determination.

	
15

	
Section 2.09

	
Optional Conversion or Continuation of Revolving Credit Advances.

	
16

	
Section 2.10

	
Optional Prepayments of Revolving Credit Advances.

	
17

	
Section 2.11

	
Increased Costs.

	
17

	
Section 2.12

	
Illegality.

	
18

	
Section 2.13

	
Payments and Computations; Evidence of Advances.

	
18

	
Section 2.14

	
Taxes.

	
19

	
Section 2.15

	
Sharing of Payments, Etc.

	
22

	
Section 2.16

	
Use of Proceeds.

	
22

	
Section 2.17

	
Borrowings by Borrowing Subsidiaries.

	
22

	
Section 2.18

	
License Agreement and CDS Data.

	
24

	
Section 2.19

	
Defaulting Lenders.

	
25

	 	 
	
ARTICLE III  CONDITIONS TO EFFECTIVENESS AND LENDING

	
26

	
Section 3.01

	
Conditions Precedent to Effectiveness.

	
26

	
Section 3.02

	
Conditions Precedent to Each Revolving Credit Borrowing.

	
27

	
Section 3.03

	
Determinations Under Section 3.01.

	
27

	 	 
	
ARTICLE IV  REPRESENTATIONS AND WARRANTIES

	
28

	
Section 4.01

	
Representations and Warranties of the Company.

	
28

	 	 
	
ARTICLE V  COVENANTS OF THE COMPANY

	
29

	
Section 5.01

	
Affirmative Covenants.

	
29

	
Section 5.02

	
Negative Covenants.

	
30

	 	 
	
ARTICLE VI  EVENTS OF DEFAULT

	
32

	
Section 6.01

	
Events of Default.

	
32

	 	 
	
ARTICLE VII  THE AGENT

	
33

	
Section 7.01

	
Appointment and Authority.

	
33

 

  

i

  

 

	
Section 7.02

	
Rights as a Lender.

	
34

	
Section 7.03

	
Exculpatory Provisions.

	
34

	
Section 7.04

	
Reliance by Agent.

	
35

	
Section 7.05

	
Indemnification.

	
35

	
Section 7.06

	
Delegation of Duties.

	
35

	
Section 7.07

	
Resignation of Agent.

	
35

	
Section 7.08

	
Non-Reliance on Agent and Other Lenders.

	
36

	
Section 7.09

	
Syndication Agent and Lead Arrangers.

	
36

	 	 
	
ARTICLE VIII  MISCELLANEOUS

	
37

	
Section 8.01

	
Amendments, Etc.

	
37

	
Section 8.02

	
Notices, Etc.

	
37

	
Section 8.03

	
No Waiver; Remedies.

	
38

	
Section 8.04

	
Costs and Expenses.

	
38

	
Section 8.05

	
Right of Set off.

	
39

	
Section 8.06

	
Binding Effect.

	
39

	
Section 8.07

	
Assignments and Participations.

	
40

	
Section 8.08

	
Confidentiality.

	
43

	
Section 8.09

	
Governing Law.

	
43

	
Section 8.10

	
Execution in Counterparts.

	
44

	
Section 8.11

	
Jurisdiction, Etc.

	
44

	
Section 8.12

	
WAIVER OF JURY TRIAL.

	
44

	
Section 8.13

	
USA PATRIOT Act Notice.

	
44

	 	 
	
ARTICLE IX  GUARANTEE

	
45

	
Section 9.01

	
Guarantee.

	
45

	
Section 9.02

	
Obligations Unconditional.

	
45

	
Section 9.03

	
Reinstatement.

	
46

	
Section 9.04

	
Subrogation.

	
46

	
Section 9.05

	
Remedies.

	
46

	
Section 9.06

	
Continuing Guarantee.

	
46

 

  

ii

  

 

	
Schedules

	  
	
Schedule I

	Commitments
	
Schedule II

	
Agent's Address

	 	 
	
Exhibits

	  
	 	 
	
Exhibit A

	
Form of Revolving Credit Note

	
Exhibit B

	Form of Notice of Revolving Credit Borrowing
	
Exhibit C

	Form of Assignment and Assumption
	
Exhibit D

	Form of Designation Letter
	
Exhibit E

	Form of Termination Letter

 

  

iii

  

 

FOUR YEAR CREDIT AGREEMENT

 

Dated as of June 14, 2011

 

PEPSICO, INC., a North Carolina corporation (the “Company”), the banks, financial institutions and other institutional lenders (the “Initial Lenders”) listed on the signature pages hereof, and Citibank, N.A., as administrative agent (in such capacity, the “Agent”) for the Lenders (as hereinafter defined), agree, as of June 14, 2011, as follows:

 

PRELIMINARY STATEMENT

 

The Company has requested that the Lenders agree to extend credit to it and the Borrowing Subsidiaries from time to time in an aggregate principal amount of up to $2,875,000,000 for general corporate purposes of the Company and its Subsidiaries, including but not limited to repayment of outstanding commercial paper issued by the Company and its Subsidiaries, working capital, capital investments and acquisitions.  The Lenders have indicated their willingness to agree to extend credit to the Company and the Borrowing Subsidiaries from time to time in such amount on the terms and conditions set forth in this Agreement.

 

ARTICLE I

 

DEFINITIONS AND ACCOUNTING TERMS

 

Section 1.01     Certain Defined Terms.

 

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

 

“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Agent.

 

“Advance” means a Revolving Credit Advance.

 

“Affiliate” means, as to any Person, any other Person that, directly or indirectly, controls, is controlled by or is under common control with such Person or is a director or officer of such Person.  For purposes of this definition, the term “control” (including the terms “controlling”, “controlled by” and “under common control with”) of a Person means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of Voting Stock, by contract or otherwise.

 

“Agent’s Account” means such account as the Agent shall designate from time to time in a notice to the Company and the Lenders.

 

“Agent’s Address” means the address or addresses on Schedule II attached hereto.

 

“Applicable Lending Office” means, with respect to each Lender, such Lender’s Domestic Lending Office in the case of a Base Rate Advance and such Lender’s Eurodollar Lending Office in the case of a Eurodollar Rate Advance.

 

“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee, and accepted by the Agent, in substantially the form of Exhibit C hereto.

 

  

  

  

 

“Base Rate” means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the highest of:

 

(a)          the rate of interest in effect for such day as publicly announced from time to time by Citibank, N.A. in the United States as its “base rate”, and notified to the Company at its request (it being understood and agreed that such base rate is a rate set by Citibank, N.A. based on various factors and is used as a reference point for pricing some loans);

 

(b)          the Federal Funds Rate plus 0.50%; and

 

(c)          the Eurodollar Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%.

 

“Base Rate Advance” means a Revolving Credit Advance that bears interest as provided in Section 2.07(a).

 

“Borrower” means the Company (both as a Borrower and as a guarantor under Article IX of Advances made to the Borrowing Subsidiaries) and each Borrowing Subsidiary.

 

“Borrowing” means a Revolving Credit Borrowing.

 

“Borrowing Subsidiary” means any Subsidiary of the Company, as to which a Designation Letter has been delivered to the Agent and as to which a Termination Letter has not been delivered to the Agent in accordance with Section 2.17.

 

“Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the laws of, or are in fact closed in, the state of the Agent’s Address or in New York, New York and if such day relates to a Eurodollar Rate Advance, it shall also mean a day on which dealings are carried on by and between banks in the London interbank eurodollar market.

 

“Commitment” means, with respect to any Lender, such Lender’s obligations to make Revolving Credit Advances.  Such Lender’s Commitment shall be the amount set forth opposite such Lender’s name on Schedule I hereto or, if such Lender has entered into any Assignment and Assumption, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05(a) or increased pursuant to Section 2.05(c).

 

“Confidential Information” means information that the Company furnishes to the Agent or any Lender, but does not include any such information (x) that is or becomes generally available to the public other than by the Agent or any Lender in violation of this Agreement or (y) that is or becomes rightfully available to the Agent or such Lender from a source other than the Company which the Agent or such Lender had no reason to believe had any confidentiality or fiduciary obligation to the Company with respect to such information.

 

“Consolidated” refers to the consolidation of accounts in accordance with GAAP.

 

“Consolidated Net Tangible Assets” means the total assets of the Company and its Restricted Subsidiaries (less applicable depreciation, amortization, and other valuation reserves), less all current liabilities (excluding intercompany liabilities) and all intangible assets of the Company and its Restricted Subsidiaries, all as set forth on the most recent consolidated balance sheet of the Company and its Restricted Subsidiaries, prepared in accordance with GAAP.

 

  

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“Convert”, “Conversion” and “Converted” each refers to a conversion of Revolving Credit Advances of one Type into Revolving Credit Advances of the other Type pursuant to Section 2.08 or 2.09.

 

“Credit Default Swap Spread” means, for any Interest Period, the rate per annum equal to the credit default swap mid-rate spread of the Company interpolated from the date of determination to the latest Termination Date then in effect (or, if the period from such date of determination to the latest Termination Date then in effect is less than one year, then the one-year credit default swap mid-rate spread of the Company), as provided to the Agent by Markit on the second Business Day prior to the first day of such Interest Period; provided that the Credit Default Swap Spread shall in no event be less than 0.20% or greater than 0.875% and provided, further, that the Credit Default Swap Spread shall be deemed to be 0.875% from and after the Termination Date.  If for any reason Markit does not timely provide the applicable information for any Interest Period, the Company and the Lenders shall negotiate in good faith for a period of up to 30 days after the Credit Default Swap Spread becomes unavailable (such 30-day period, the “Negotiation Period”) to agree on an alternative method for establishing the Credit Default Swap Spread.  The Credit Default Swap Spread during the Negotiation Period shall be the spread most recently provided to the Agent by Markit.  If no such alternative method is agreed upon during the Negotiation Period, the Credit Default Swap Spread at any date of determination subsequent to the end of the Negotiation Period shall be 0.75%.

 

“Debt” of any Person means, without duplication, (a) all indebtedness of such Person for borrowed money, (b) all obligations of such Person for the deferred purchase price of property or services, (c) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments, (d) all obligations of such Person created or arising under any conditional sale or other title retention agreement with respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (e) for purposes only of Article VI, all obligations of such Person as lessee under leases that have been or should be, in accordance with GAAP, recorded as capital leases, (f) all obligations, contingent or otherwise, of such Person in respect of acceptances, letters of credit or similar extensions of credit, (g) all obligations of such Person in respect of Hedge Agreements, (h) all Debt of others referred to in clauses (a) through (g) above or clause (i) below guaranteed directly or indirectly in any manner by such Person, or in effect guaranteed directly or indirectly by such Person through an agreement (1) to pay or purchase such Debt or to advance or supply funds for the payment or purchase of such Debt, (2) to purchase, sell or lease (as lessee or lessor) property, or to purchase or sell services, primarily for the purpose of enabling the debtor to make payment of such Debt or to assure the holder of such Debt against loss, (3) to supply funds to or in any other manner invest in the debtor (including any agreement to pay for property or services irrespective of whether such property is received or such services are rendered) or (4) otherwise to assure a creditor against loss, and (i) all Debt referred to in clauses (a) through (h) above secured by (or for which the holder of such Debt has an existing right, contingent or otherwise, to be secured by) any Lien on property (including, without limitation, accounts and contract rights) owned by such Person, even though such Person has not assumed or become liable for the payment of such Debt.

 

“Default” means any Event of Default or any event that would constitute an Event of Default but for the requirement that notice be given or time elapse or both.

 

“Defaulting Lender” means, subject to Section 2.19(b), any Lender that (a) has failed to (i) fund all or any portion of its Advances within two Business Days of the date such Advances were required to be funded hereunder unless such Lender notifies the Agent and the Company in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such

 

  

3

  

 

writing) has not been satisfied, or (ii) pay to the Agent or any other Lender any other amount required to be paid by it hereunder within two Business Days of the date when due, (b) has notified the Company or the Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund an Advance hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by the Agent or the Company, to confirm in writing to the Agent and the Company that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Agent and the Company), (d) has defaulted on its funding obligations under other loan agreements or credit agreements generally, or (e) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any the Bankruptcy Code of the United States of America, or any other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief law of the United States or other applicable jurisdictions from time to time in effect, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a governmental authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such governmental authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender.  Any determination by the Agent that a Lender is a Defaulting Lender under clauses (a) through (e) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.19(b)) upon delivery of written notice of such determination to the Company and each Lender.

 

“Default Rate” means (a) with respect to a Base Rate Advance and any other amount owing hereunder (other than a Eurodollar Rate Advance), the Base Rate plus two percent (2%) per annum and (b) with respect to all Eurodollar Rate Advances, the rate otherwise applicable to such Eurodollar Rate Advance plus two percent (2%) per annum.

 

“Designation Letter” has the meaning specified in Section 2.17(a).

 

“Domestic Lending Office” means, with respect to any Lender, the office of such Lender specified as its “Domestic Lending Office” in its Administrative Questionnaire or in the Assignment and Assumption pursuant to which it became a Lender, or such other office of such Lender as such Lender may from time to time specify in writing to the Company and the Agent.

 

“Effective Date” has the meaning specified in Section 3.01.

 

“Eligible Assignee” means (i) a Lender; (ii) an Affiliate of a Lender; (iii) a commercial bank organized under the laws of the United States, or any State thereof, and having total assets in excess of $15,000,000,000 and a combined capital and surplus of at least $1,000,000,000; (iv) a savings and loan association or savings bank organized under the laws of the United States, or any State thereof, and having total assets in excess of $15,000,000,000 and a combined capital and surplus of at least $1,000,000,000; (v) a commercial bank organized under the laws of any other country that is a member of the Organization for Economic Cooperation and Development or has concluded special lending

 

  

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arrangements with the International Monetary Fund associated with its General Arrangements to Borrow or of the Cayman Islands, or a political subdivision of any such country, and having total assets in excess of $15,000,000,000 and a combined capital and surplus of at least $1,000,000,000, so long as such bank is acting through a branch or agency located in the United States or in the country in which it is organized or another country that is described in this clause (v); (vi) the central bank of any country that is a member of the Organization for Economic Cooperation and Development; provided, however, that each Person described in clauses (ii) through (vi) shall have a short term public debt rating of not less than A-1 by Standard & Poor’s Ratings Group or P-1 by Moody’s Investors Service, Inc. and shall be approved by the Company, such approval not to be unreasonably withheld or delayed; and (vii) any other Person approved by the Company, such approval not to be unreasonably withheld or delayed; provided, however, that neither the Company nor an Affiliate of the Company shall qualify as an Eligible Assignee.

 

“Environmental Law” means any federal, state, local or foreign statute, law, ordinance, rule, regulation, code, order, judgment, decree or judicial or agency interpretation, policy or guidance relating to the environment, health, safety or Hazardous Materials.

 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations promulgated and rulings issued thereunder.

 

“Eurodollar Lending Office” means, with respect to any Lender, the office of such Lender specified as its “Eurodollar Lending Office” in its Administrative Questionnaire or in the Assignment and Assumption pursuant to which it became a Lender (or, if no such office is specified, its Domestic Lending Office), or such other office of such Lender as such Lender may from time to time specify in writing to the Company and the Agent.

 

“Eurodollar Rate” means, for any Interest Period for each Eurodollar Rate Advance constituting part of the same Revolving Credit Borrowing, an interest rate per annum as calculated by the British Bankers’ Association and appearing on a nationally recognized service selected by the Agent such as Reuters (the “Service”) (or on any successor or substitute page of such Service, or any successor to or substitute for such Service, providing rate quotations comparable to those currently provided on such page of such Service, as determined by the Agent from time to time for purposes of providing quotations of interest rates applicable to Dollar deposits in the London interbank market) as of 11:00 A.M. (London time) on the date two Business Days prior to the first day of such Interest Period as the rate for Dollar deposits having a term comparable to such Interest Period, or in the event such offered rate is not available from such Service, the average (rounded to the nearer whole multiple of 1/16 of 1% per annum, if such average is not such a multiple) of the rate per annum at which deposits in U.S. dollars are offered by the principal office of each of the Reference Banks in London, England to prime banks in the London interbank market at 11:00 A.M. (London time) two Business Days before the first day of such Interest Period in an amount substantially equal to such Reference Bank’s Eurodollar Rate Advance constituting part of such Revolving Credit Borrowing to be outstanding during such Interest Period and for a period equal to such Interest Period.  If the Eurodollar Rate does not appear on the selected Service (or any successor page), the Eurodollar Rate for any Interest Period for each Eurodollar Rate Advance constituting part of the same Revolving Credit Borrowing shall be determined by the Agent on the basis of applicable rates furnished to and received by the Agent from the Reference Banks two Business Days before the first day of such Interest Period, subject, however, to the provisions of Section 2.08.

 

“Eurodollar Rate Advance” means a Revolving Credit Advance that bears interest as provided in Section 2.07(b).

 

“Events of Default” has the meaning specified in Section 6.01.

 

  

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“Excluded Taxes” means (i) taxes imposed on, or measured by, the recipient’s net income (however measured), including branch profits taxes and franchise taxes imposed in lieu of net income taxes, (ii) non-U.S. withholding taxes imposed solely as a result of activities or place of incorporation or formation of the applicable Lender or the Agent in such non-U.S. jurisdiction and (iii) taxes imposed on any “withholdable payment” payable to such recipient as a result of the failure of such recipient to satisfy the applicable requirements as set forth in FATCA.

 

“Existing Credit Agreements” means (a) the Five-Year Credit Agreement dated as of May 22, 2006 (as amended, supplemented or otherwise modified from time to time) among the Company, the banks, financial institutions and other institutional lenders party thereto and Citibank, N.A., as administrative agent for the Lenders and such other lenders, (b) the $2,575,000,000 364-Day Credit Agreement dated as of June 16, 2010 (as amended, supplemented or otherwise modified from time to time) among the Company, the banks, financial institutions and other institutional lenders party thereto and BNP Paribas, as administrative agent for the Lenders and such other lenders and (c) the First Amended and Restated Credit Agreement (as amended by Amendment No. 1 thereto) dated as of October 19, 2007 among The Pepsi Bottling Group, Inc., Bottling Group, LLC, the banks, financial institutions and other institutional lenders thereto and Citibank, N.A., as administrative agent.

 

“FATCA” means Sections 1471 through 1474 of the Internal Revenue Code and any regulations or official interpretations thereof.

 

“Federal Funds Rate” means, for any period, a fluctuating interest rate per annum equal for each day during such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve 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 such day on such transactions received by the Agent from three Federal funds brokers of recognized standing selected by it.

 

“GAAP” has the meaning specified in Section 1.03.

 

“Guaranteed Obligations” has the meaning specified in Section 9.01.

 

“Hazardous Materials” means petroleum and petroleum products, byproducts or breakdown products, radioactive materials, asbestos-containing materials, radon gas and any other chemicals, materials or substances designated, classified or regulated as being “hazardous” or “toxic”, or words of similar import, under any federal, state, local or foreign statute, law, ordinance, rule, regulation, code, order, judgment, decree or judicial or agency interpretation, policy or guideline.

 

“Hedge Agreements” means interest rate swap, cap or collar agreements, interest rate future or option contracts, currency swap agreements, currency future or option contracts and other similar agreements.

 

“Interest Period” means, for each Eurodollar Rate Advance constituting part of the same Revolving Credit Borrowing, the period commencing on the date of such Eurodollar Rate Advance or the date of the Conversion of any Base Rate Advance into such Eurodollar Rate Advance and ending on the last day of the period selected by the Company pursuant to the provisions below and, thereafter, each subsequent period commencing on the last day of the immediately preceding Interest Period and ending on the last day of the period selected by the Company pursuant to the provisions below.  The duration of each such Interest Period shall be one, two, three, six, or (subject to availability, as determined by the Lenders) nine or twelve months, as the Company may, upon notice received by the Agent not later than

 

  

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11:00 A.M. (New York City time) on the third Business Day prior to the first day of such Interest Period, select; provided, however, that:

 

(i)           the Company may not select any Interest Period that ends after the Termination Date;

 

(ii)           Interest Periods commencing on the same date for Eurodollar Rate Advances constituting part of the same Revolving Credit Borrowing shall be of the same duration;

 

(iii)           whenever the last day of any Interest Period would otherwise occur on a day other than a Business Day, the last day of such Interest Period shall be extended to occur on the next succeeding Business Day, provided, however, that, if such extension would cause the last day of such Interest Period to occur in the next following calendar month, the last day of such Interest Period shall occur on the next preceding Business Day; and

 

(iv)           whenever the first day of any Interest Period occurs on a day of an initial calendar month for which there is no numerically corresponding day in the calendar month that succeeds such initial calendar month by the number of months equal to the number of months in such Interest Period, such Interest Period shall end on the last Business Day of such succeeding calendar month.

 

“Internal Revenue Code” means the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated and rulings issued thereunder.

 

“Lead Arrangers” means each of Citigroup Global Markets, Inc., J.P. Morgan Securities LLC  and Merrill Lynch, Pierce, Fenner & Smith Incorporated in its capacity as a joint lead arranger and a joint bookrunner.

 

“Lenders” means the Initial Lenders and each Person that shall become a party hereto pursuant to Sections 2.05(c), 2.06(b) or 8.07.

 

“Lien” means any lien, security interest or other charge or encumbrance of any kind, or any other type of preferential arrangement, including, without limitation, the lien or retained security title of a conditional vendor.

 

“Loan Documents” means, collectively, this Agreement, the Notes, each Designation Letter and each Termination Letter.

 

“Markit” means Markit Group, Ltd. or any successor thereto.

 

“Material Adverse Change” means any material adverse change in the financial condition, operations or properties of the Company and its Subsidiaries taken as a whole.

 

“Material Adverse Effect” means a material adverse effect on (a) the financial condition, operations or properties of the Company and its Subsidiaries taken as a whole, (b) the rights and remedies of the Agent or any Lender under this Agreement or any Note or (c) the ability of the Company to perform its obligations under this Agreement or any Note.

 

“Material Subsidiary” means each Subsidiary of the Company that is a “significant subsidiary” as defined in Regulation S-X of the Securities Act of 1933.

 

  

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“New Lender” means, for purposes of Section 2.05(c), an Eligible Assignee (which may be a Lender) selected by the Company with (in the case of a New Lender that is not already a Lender) prior consultation with the Agent.

 

“Non-Consenting Lender” means any Lender that does not approve any consent, waiver or amendment that (i) requires the approval of all affected Lenders in accordance with the terms of Section 8.01 and (ii) has been approved by the Required Lenders.

 

“Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting Lender at such time.

 

“Note” means a Revolving Credit Note.

 

“Notice of Revolving Credit Borrowing” has the meaning specified in Section 2.02(a).

 

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

 

“Principal Property” means any single manufacturing or processing plant, office building, warehouse or portion thereof owned or leased by the Company or a Restricted Subsidiary other than a plant, office building, warehouse or portion thereof which, in the reasonable opinion of the Company’s Board of Directors, is not of material importance to the business conducted by the Company and its Restricted Subsidiaries as an entirety.

 

“Reference Banks” means Citibank, N.A., JPMorgan Chase Bank, N.A. and Bank of America, N.A. (and any successors thereof).

 

“Register” has the meaning specified in Section 8.07(d).

 

“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates.

 

“Required Lenders” means at any time (i) Lenders having more than 50% of the aggregate amount of the Commitments, and (ii) if the Commitments of the Lenders have been terminated, Lenders owed more than 50% of the then aggregate unpaid principal amount of the Borrowings.  The unused Commitment of any Defaulting Lender shall be disregarded in determining Required Lenders at any time.

 

“Restricted Subsidiary” means at any time any Subsidiary of the Company except a Subsidiary which is at the time an Unrestricted Subsidiary.

 

“Revolving Credit Advance” means an advance by a Lender to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Advance (each of which shall be a “Type” of Revolving Credit Advance).

 

“Revolving Credit Borrowing” means a borrowing consisting of simultaneous Revolving Credit Advances of the same Type made by each of the Lenders pursuant to Section 2.01.

 

“Revolving Credit Note” means a promissory note of a Borrower payable to the order of any Lender, in substantially the form of Exhibit A hereto, evidencing the aggregate indebtedness of such

 

  

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Borrower to such Lender resulting from the Revolving Credit Advances made by such Lender.

 

“Subsidiary” of any Person means any corporation, partnership, joint venture, limited liability company, trust or estate of which (or in which) more than 50% of (a) the issued and outstanding Voting Stock of such corporation or limited liability company (irrespective of whether at the time capital stock or membership interests of any other class or classes of such corporation or limited liability company shall or might have voting power upon the occurrence of any contingency), (b) the interest in the capital or profits of such partnership or joint venture or (c) the beneficial interest in such trust or estate is at the time directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or more of such Person’s other Subsidiaries.

 

“Syndication Agent” means each of JPMorgan Chase Bank, N.A. and Bank of America, N.A., in its capacity as a syndication agent.

 

“Termination Date” means June 14, 2015 or, if earlier, the date of termination in whole of the Commitments pursuant to Section 2.05(a) or 6.01 or, in the case of any Lender whose Commitment is extended pursuant to Section 2.06(b), the date to which such Commitment is extended; provided in each case that if any such date is not a Business Day, the relevant Termination Date of such Lender shall be the immediately preceding Business Day.

 

“Termination Letter” has the meaning specified in Section 2.17(b).

 

“Type” has the meaning specified in the definition of “Revolving Credit Advance”.

 

“United States Person” has the meaning specified in Section 7701 of the Internal Revenue Code.

 

“Unrestricted Subsidiary” means any Subsidiary of the Company (not at the time designated a Restricted Subsidiary) (i) the major part of whose business consists of finance, banking, credit, leasing, insurance, financial services, or other similar operations, or any continuation thereof, (ii) substantially all the assets of which consist of the capital stock of one or more such Subsidiaries or (iii) designated as such by the Company’s Board of Directors.

 

“Voting Stock” means capital stock issued by a corporation, or equivalent interests in any other Person, the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even if the right so to vote has been suspended by the happening of such a contingency.

 

Section 1.02     Computation of Time Periods.

 

In this Agreement in the computation of periods of time from a specified date to a later specified date, the word “from” means “from and including” and the words “to” and “until” each mean “to but excluding”.

 

Section 1.03     Accounting Terms.

 

All accounting terms not specifically defined herein shall be construed in accordance with generally accepted accounting principles in the United States consistent with those applied in the preparation of the financial statements referred to in Section 4.01(e) (“GAAP”).

 

  

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ARTICLE II

 

AMOUNTS AND TERMS OF THE ADVANCES

 

Section 2.01     The Revolving Credit Advances.

 

Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Credit Advances to the Company and any Borrowing Subsidiary from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate amount not to exceed at any time outstanding such Lender’s Commitment.  Each Revolving Credit Borrowing shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments.  Within the limits of each Lender’s Commitment, each Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.10 and reborrow under this Section 2.01.

 

Section 2.02     Making the Revolving Credit Advances.

 

(a)       Each Revolving Credit Borrowing shall be made on notice, given not later than 11:00 A.M. (New York City time) on (x) the third Business Day prior to the date of the proposed Revolving Credit Borrowing in the case of a Revolving Credit Borrowing consisting of Eurodollar Rate Advances, or (y) the date of the proposed Revolving Credit Borrowing in the case of a Revolving Credit Borrowing consisting of Base Rate Advances, by the Company (on its own behalf and on behalf of any Borrowing Subsidiary) to the Agent, which shall give to each Lender prompt notice thereof by telecopier.  Each such notice of a Revolving Credit Borrowing (a “Notice of Revolving Credit Borrowing”) shall be by telecopier, confirmed promptly in writing, in substantially the form of Exhibit B hereto, specifying therein the requested (i) date of such Revolving Credit Borrowing, (ii) Type of Advances constituting such Revolving Credit Borrowing, (iii) aggregate amount of such Revolving Credit Borrowing, (iv) in the case of a Revolving Credit Borrowing consisting of Eurodollar Rate Advances, initial Interest Period for each such Revolving Credit Advance and (v) name of the relevant Borrower (which shall be the Company or a Borrowing Subsidiary).  Each Lender shall, before 12:00 noon (New York City time) on the date of such Revolving Credit Borrowing, make available for the account of its Applicable Lending Office to the Agent at the Agent’s Account, in same day funds, such Lender’s ratable portion of such Revolving Credit Borrowing.  After the Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Agent will make such same day funds available to the relevant Borrower at such Borrower’s account at the Agent’s address referred to in Section 8.02.

 

(b)       Anything in subsection (a) above to the contrary notwithstanding, (i) the Company may not select Eurodollar Rate Advances for any Revolving Credit Borrowing if the aggregate amount of such Revolving Credit Borrowing is less than $25,000,000 or if the obligation of the Lenders to make Eurodollar Rate Advances shall then be suspended pursuant to Section 2.08 or 2.12 and (ii) the Eurodollar Rate Advances may not be outstanding as part of more than twelve separate Revolving Credit Borrowings.

 

(c)        Each Notice of Revolving Credit Borrowing shall be irrevocable and binding on the relevant Borrower.  In the case of any Revolving Credit Borrowing that the related Notice of Revolving Credit Borrowing specifies is to be comprised of Eurodollar Rate Advances, the Company shall indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or before the date specified in such Notice of Revolving

 

  

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Credit Borrowing for such Revolving Credit Borrowing the applicable conditions set forth in Article III, including, without limitation, any loss, cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund the Revolving Credit Advance to be made by such Lender as part of such Revolving Credit Borrowing when such Revolving Credit Advance, as a result of such failure, is not made on such date.

 

(d)        Unless the Agent shall have received notice from a Lender prior to the time of any Revolving Credit Borrowing that such Lender will not make available to the Agent such Lender’s ratable portion of such Revolving Credit Borrowing, the Agent may assume that such Lender has made such portion available to the Agent on the date of such Revolving Credit Borrowing in accordance with subsection (a) of this Section 2.02 and the Agent may, in reliance upon such assumption, make available to the relevant Borrower on such date a corresponding amount.  If and to the extent that such Lender shall not have so made such ratable portion available to the Agent, such Lender and such Borrower severally agree to repay to the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to such Borrower until the date such amount is repaid to the Agent, at (i) in the case of a Borrower, the interest rate applicable at the time to Revolving Credit Advances constituting such Revolving Credit Borrowing and (ii) in the case of such Lender, the Federal Funds Rate.  If such Lender shall repay to the Agent such corresponding amount, such amount so repaid shall constitute such Lender’s Revolving Credit Advance as part of such Revolving Credit Borrowing for purposes of this Agreement and shall be made available in same day funds to the relevant Borrower’s account at the Agent’s address referred to in Section 8.02.

 

(e)         The failure of any Lender to make the Revolving Credit Advance to be made by it as part of any Revolving Credit Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Revolving Credit Advance on the date of such Revolving Credit Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Revolving Credit Advance to be made by such other Lender on the date of any Revolving Credit Borrowing.

 

Section 2.03     [Reserved].

 

Section 2.04     Fees.

 

(a)       Commitment Fee.  The Company agrees to pay to the Agent for the account of each Lender a commitment fee on the aggregate amount of such Lender’s unused portion of the Commitment from the Effective Date in the case of each Initial Lender and from the effective date specified in the Assignment and Assumption pursuant to which it became a Lender in the case of each other Lender until the Termination Date (on a daily basis) at a rate per annum equal to 0.050%, payable in arrears quarterly on the last day of each June, September, December and March, commencing September 30, 2011, and on the Termination Date.

 

(b)       Agent’s Fees.  The Company shall pay to the Agent for its own account such fees as may from time to time be agreed between the Company and the Agent.

 

Section 2.05     Termination, Reduction or Increase of Commitments.

 

(a)       The Company shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective 

 

  

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Commitments of the Lenders; provided that each partial reduction shall be in the aggregate amount of $25,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Advances then outstanding.

 

(b)       If any Lender (i) shall make a demand under Section 2.11 or 2.14 or (ii) is a Defaulting Lender or Non-Consenting Lender, the Company shall have the right, upon at least three Business Days’ notice, to terminate in full the Commitment of such Lender or to demand that such Lender assign to one or more Persons all of its rights and obligations under this Agreement in accordance with Section 8.07.  If the Company shall elect to terminate in full the Commitment of any Lender pursuant to this Section 2.05(b), the Company shall pay to such Lender, on the effective date of such Lender’s Commitment termination, an amount equal to the aggregate outstanding principal amount of the Advances owing to such Lender, together with accrued interest thereon to the date of payment of such principal amount and all other amounts payable to such Lender under this Agreement, whereupon such Lender shall cease to be a party hereto.

 

(c)          (i)  From time to time (but not more than three times in any period of 365 days), the Company may propose to increase the aggregate amount of the Commitments by an aggregate amount of $25,000,000 or an integral multiple of $1,000,000 in excess thereof (a “Proposed Aggregate Commitment Increase”) in the manner set forth below, provided that:

 

(1)             no Default shall have occurred and be continuing either as of the applicable Increase Notice Date (as hereinafter defined) or as of the related Increase Date (as hereinafter defined); and

 

(2)             after giving effect to any such increase, the aggregate amount of the Commitments shall not exceed $3,500,000,000.

 

(ii)           From time to time (but not more than three times in any period of 365 days), the Company may request an increase in the aggregate amount of the Commitments by delivering to the Agent a notice (an “Increase Notice”; the date of delivery thereof to the Agent being the “Increase Notice Date”) specifying (1) the Proposed Aggregate Commitment Increase, (2) the proposed date (the “Increase Date”) on which the Commitments would be so increased (which Increase Date may not be fewer than 30 days after the Increase Notice Date) and (3) the New Lenders, if any, to whom the Company desires to offer the opportunity to commit to all or a portion of the Proposed Aggregate Commitment Increase.  The Agent shall in turn promptly notify each Lender of the Company’s request by sending each Lender a copy of such notice.

 

(iii)           Not later than the date five days after the Increase Notice Date, the Agent shall notify each New Lender, if any, identified in the related Increase Notice of the opportunity to commit to all or any portion of the Proposed Aggregate Commitment Increase.  Each such New Lender may irrevocably commit to all or a portion of the Proposed Aggregate Commitment Increase (such New Lender’s “Proposed New Commitment”) by notifying the Agent (which shall give prompt notice thereof to the Company) before 11:00 A.M. (New York City time) on the date that is 10 days after the Increase Notice Date; provided that:

 

(1)             the Proposed New Commitment of each New Lender shall be in an amount not less than $25,000,000; and

 

  

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(2)             each New Lender that submits a Proposed New Commitment shall enter into an agreement in form and substance satisfactory to the Company and the Agent pursuant to which such New Lender shall undertake a Commitment (and, if any such New Lender is already a Lender, its Commitment shall be in addition to such Lender’s Commitment hereunder on such date), and shall pay to the Agent a processing and recordation fee of $3,500.

 

(iv)           If, and only if, the aggregate Proposed New Commitments of all of the New Lenders shall be less than the Proposed Aggregate Commitment Increase, then (unless the Company otherwise requests) the Agent shall, on or prior to the date that is 15 days after the Increase Notice Date, notify each Lender of the opportunity to so commit to all or any portion of the Proposed Aggregate Commitment Increase not committed to by New Lenders pursuant to Section 2.05(c)(iii).  Each Lender may, if, in its sole discretion, it elects to do so, irrevocably offer to commit to all or a portion of such remainder (such Lender’s “Proposed Increased Commitment”) by notifying the Agent (which shall give prompt notice thereof to the Company) not later than 11:00 A.M. (New York City time) on the date five days before the Increase Date.

 

(v)           (1) If the aggregate amount of Proposed New Commitments and Proposed Increased Commitments (such aggregate amount, the “Total Committed Increase”) equals or exceeds $25,000,000, then, subject to the conditions set forth in Section 2.05(c)(i):

 

(A)           effective on and as of the Increase Date, the aggregate amount of the Commitments shall be increased by the Total Committed Increase (provided that the aggregate amount of the Commitments shall in no event be increased pursuant to this Section 2.05(c) to more than $3,500,000,000) and shall be allocated among the New Lenders and the Lenders as provided in Section 2.05(c)(vi); and

 

(B)           on the Increase Date, if any Revolving Credit Advances are then outstanding, the Company shall borrow Revolving Credit Advances from all or certain of the Lenders and/or (subject to compliance by the Company with Section 8.04(c)) prepay Revolving Credit Advances of all or certain of the Lenders such that, after giving effect thereto, the Revolving Credit Advances (including, without limitation, the Types and Interest Periods thereof) shall be held by the Lenders (including for such purposes New Lenders) ratably in accordance with their respective Commitments.

 

(2)           If the Total Committed Increase is less than $25,000,000, then the aggregate amount of the Commitments shall not be changed pursuant to this Section 2.05(c).

 

(vi)           The Total Committed Increase shall be allocated among New Lenders having Proposed New Commitments and Lenders having Proposed Increased Commitments, if any, as follows:

 

(1)           If the Total Committed Increase shall be at least $25,000,000 and less than or equal to the Proposed Aggregate Commitment Increase, then (x) the initial Commitment of each New Lender shall be such New Lender’s Proposed

 

  

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New Commitment and (y) the Commitment of each Lender shall be increased by such Lender’s Proposed Increased Commitment, if any.

 

(2)           If the Total Committed Increase shall be greater than the Proposed Aggregate Commitment Increase, then the Total Committed Increase shall be allocated:

 

(x)           first to New Lenders (to the extent of their respective Proposed New Commitments) in such a manner as the Company shall agree; and

 

(y)          then to Lenders on a pro rata basis based on the ratio of each Lender’s Proposed Increased Commitment (if any) to the aggregate amount of the Proposed Increased Commitments of all of the Lenders.

 

(vii)           No increase in the Commitments contemplated hereby shall become effective until the Agent shall have received (x) Revolving Credit Notes payable to each New Lender and each other Lender whose Commitment is being increased to the extent such New Lender or Lender has requested such a Revolving Credit Note pursuant to Section 2.13(e), and (y) evidence satisfactory to the Agent (including an update of the opinion of counsel provided pursuant to Section 3.01(g)(iv)) that such increases in the Commitments, and borrowings thereunder, have been duly authorized by all necessary corporate and other action on the part of the Company.

 

Section 2.06     Repayment of Revolving Credit Advances; Extension of Termination Date.

 

(a)       Each Borrower shall repay to the Agent for the ratable account of the Lenders on the Termination Date the aggregate principal amount of the Revolving Credit Advances made to such Borrower then outstanding, and all accrued but unpaid interest in connection therewith and all fees and all other amounts due hereunder.

 

(b)       The Company may, by written notice to the Agent (which shall promptly notify the Lenders) not more than 60 nor less than 30 days prior to each anniversary of the date hereof (such anniversary date following such notice, the “Extension Date”), request that the Termination Date then in effect (the “Existing Termination Date”) be extended for a period of one year.  Such request shall be irrevocable and binding upon the Company.  The Agent shall promptly notify each Lender of such request.  If a Lender agrees, acting in its sole discretion, to so extend its Commitment (an “Extending Lender”), it will notify the Agent, in writing, of its decision to do so not more than 30 nor less than 20 days before the Extension Date; it being understood that failure to give such notice shall be deemed a decision not to extend.  If any Lender fails to accept the Company’s request for extension of the Termination Date (a “Declining Lender”), the Company shall have the right, prior to the Extension Date, to require any Declining Lender to assign in full its rights and obligations under this Agreement to an Eligible Assignee (including any Extending Lender) designated by the Company that agrees to accept all of such rights and obligations and agrees to such extension (a “Replacement Lender”), provided that (i) such assignment is otherwise in compliance with Section 8.07, (ii) such Declining Lender receives payment in full of the principal amount of all Advances owing to such Declining Lender, together with accrued interest thereon to the date of such payment of principal and all other amounts payable to such Declining Lender under this Agreement and (iii) any such assignment shall be effective on the Extension Date.  If (A) there are no Declining Lenders or all of the Declining Lenders are replaced by Replacement Lenders as set forth above and (B) no Default shall have occurred and

 

  

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be continuing immediately prior to the Extension Date, the Termination Date shall be extended by one year (except that, if the date on which the Termination Date is to be extended is not a Business Day, such Termination Date as so extended shall be the next preceding Business Day), and the Agent shall promptly notify the Company of such extension.  If there are any Declining Lenders that are not replaced in accordance with the terms above, the Company may (1) withdraw its request for an extension and the Existing Termination Date will remain in effect or (2) provided that no Default shall have occurred and be continuing immediately prior to the Extension Date, on the Extension Date pay any such Declining Lenders in full for all principal, interest and other amounts owing to such Declining Lender under this Agreement, reduce the aggregate Commitments of the Lenders by the amount of the Commitment of such Declining Lenders, and extend the Termination Date for one year at the reduced aggregate Commitment amount.

 

Section 2.07     Interest on Revolving Credit Advances.

 

Each Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance made to such Borrower owing to each Lender from the date of such Revolving Credit Advance until such principal amount shall be paid in full, at the following rates per annum:

 

(a)       Base Rate Advances.  During such periods as such Revolving Credit Advance is a Base Rate Advance, a rate per annum equal at all times to the Base Rate in effect from time to time, payable in arrears quarterly on the last Business Day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

 

(b)       Eurodollar Rate Advances.  During such periods as such Revolving Credit Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during each Interest Period for such Revolving Credit Advance to the sum of (x) the Eurodollar Rate for such Interest Period for such Revolving Credit Advance plus (y) the Credit Default Swap Spread applicable to such Interest Period, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurodollar Rate Advance shall be Converted or paid in full.

 

(c)        Default Rate.  Upon the occurrence and during the continuance of an Event of Default pursuant to Section 6.01(a), the principal of and, to the extent permitted by law, interest on the Advances and any other amounts owing hereunder or under the other Loan Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at the Default Rate.

 

Section 2.08     Interest Rate Determination.

 

(a)        If the Eurodollar Rate does not appear on the selected Service, each Reference Bank agrees to furnish to the Agent timely information for the purpose of determining each Eurodollar Rate.  If the Eurodollar Rate does not appear on the selected Service, and if any one or more of the Reference Banks shall not furnish such timely information to the Agent for the purpose of determining any such interest rate, the Agent shall determine such interest rate on the basis of timely information furnished by the remaining Reference Banks.  The Agent shall give prompt notice to the Company and the Lenders of the applicable interest rate determined by the Agent for purposes of Section 2.07, and the rate, if any, furnished by each Reference Bank for the purpose of determining the interest rate under Section 2.07(b).

 

  

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(b)        If, due to a major disruption in the interbank funding market with respect to any Eurodollar Rate Advances, the Required Lenders notify the Agent that the Eurodollar Rate for any Interest Period for such Advances will not adequately reflect the cost to such Required Lenders of making, funding or maintaining their respective Eurodollar Rate Advances for such Interest Period, the Agent shall forthwith so notify the Borrower and the Lenders, whereupon (i) each Eurodollar Rate Advance will automatically, on the last day of the then existing Interest Period therefor, Convert into a Base Rate Advance, and (ii) the obligation of the Lenders to make, or to Convert Revolving Credit Advances into, Eurodollar Rate Advances shall be suspended until the Agent shall notify the Company and the Lenders that the circumstances causing such suspension no longer exist.

 

(c)         If the Company shall fail to select the duration of any Interest Period for any Eurodollar Rate Advances in accordance with the provisions contained in the definition of “Interest Period” in Section 1.01, the Agent will forthwith so notify the Company and the Lenders and the Company will be deemed to have selected an Interest Period of one month.

 

(d)         On the date on which the aggregate unpaid principal amount of Eurodollar Rate Advances constituting any Borrowing shall be reduced, by payment or prepayment or otherwise, to less than $10,000,000, such Advances shall automatically Convert into Base Rate Advances.

 

(e)          If an Event of Default has occurred and is continuing and the Agent, at the request of the Required Lenders, so notifies the Company, then, so long as an Event of Default is continuing, (i) each Eurodollar Rate Advance will automatically, on the last day of the then existing Interest Period therefor, Convert into a Base Rate Advance and (ii) the obligation of the Lenders to make, or to Convert Advances into, Eurodollar Rate Advances shall be suspended.

 

(f)           If the Eurodollar Rate does not appear on the selected Service and fewer than two Reference Banks furnish timely information to the Agent for determining the Eurodollar Rate for any Eurodollar Rate Advances,

 

(i)           the Agent shall forthwith notify the Company and the Lenders that the interest rate cannot be determined for such Eurodollar Rate Advances,

 

(ii)           each such Advance will automatically, on the last day of the then existing Interest Period therefor, Convert into a Base Rate Advance (or if such Advance is then a Base Rate Advance, will continue as a Base Rate Advance), and

 

(iii)           the obligation of the Lenders to make, or to Convert Revolving Credit Advances into, Eurodollar Rate Advances shall be suspended until the Agent shall notify the Company and the Lenders that the circumstances causing such suspension no longer exist.

 

Section 2.09     Optional Conversion or Continuation of Revolving Credit Advances.

 

The Company may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion or continuation, and subject to the provisions of Sections 2.08 and 2.12, Convert all or any part of the Revolving Credit Advances of one Type constituting the same Borrowing into Revolving Credit Advances of the other Type or continue all or any part of the Advance of one Type constituting the same Borrowing or Advances of the same Type; provided, however, that any Conversion of  Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such

 

  

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Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Revolving Credit Advances shall result in more separate Revolving Credit Borrowings than permitted under Section 2.02(b).  Each such notice of a Conversion or continuation shall, within the restrictions specified above, specify (i) the date of such Conversion or continuation, (ii) the Revolving Credit Advances to be Converted or continued, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance.  Each notice of Conversion or continuation shall be irrevocable and binding on the Company.

 

Section 2.10     Optional Prepayments of Revolving Credit Advances.

 

The Company may, upon at least one Business Day’s notice, in the case of Base Rate Advances, and three Business Days’ notice, in the case of Eurodollar Rate Advances, to the Agent stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Company shall, prepay the outstanding principal amount of the Revolving Credit Advances constituting part of the same Revolving Credit Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Advance, the Company shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

 

Section 2.11     Increased Costs.

 

(a)       If, due to either (i) the introduction of or any change in any law or regulation or in the interpretation or administration of any law or regulation by any governmental authority charged with the interpretation or administration thereof or (ii) the compliance with any guideline or request from any central bank or other governmental authority that would be complied with generally by similarly situated banks acting reasonably (whether or not having the force of law and for the avoidance of doubt, including any changes resulting from requests, rules, guidelines or directives concerning capital adequacy issued after the date hereof in connection with the Dodd-Frank Wall Street Reform and Consumer Protection Act or promulgated after the date hereof by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant toBasel III), there shall be any increase in the cost to any Lender of agreeing to make or making, funding or maintaining Eurodollar Rate Advances (except any reserve requirement contemplated by Section 2.11(b) other than as set forth below) by an amount deemed by such Lender to be material, then the Company shall from time to time, upon demand by such Lender (with a copy of such demand to the Agent), pay to the Agent for the account of such Lender additional amounts sufficient to compensate such Lender for such increased cost.  A certificate as to the amount of such increased cost, submitted to the Company and the Agent by such Lender, shall be conclusive and binding for all purposes, absent manifest error.

 

(b)       If, due to either (i) the introduction of or any change in or interpretation of any law or regulation or (ii) compliance with any guideline or request from any central bank or other governmental or regulatory authority which becomes effective after the date hereof (for the avoidance of doubt, including any changes resulting from requests, rules, guidelines or directives concerning capital adequacy issued after the date hereof in connection with the Dodd-Frank Wall Street Reform and Consumer Protection Act or promulgated after the date hereof by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to 

 

  

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Basel III), there shall be any increase in the amount of capital required or expected to be maintained by any Lender or any corporation controlling such Lender and that the amount of such capital is increased by or based upon the existence of such Lender’s Advances or commitment to lend and other commitments of this type by an amount deemed by such Lender to be material, then, upon demand by such Lender (with a copy of such demand to the Agent), the Company shall pay to the Agent for the account of such Lender, from time to time as specified by such Lender, additional amounts sufficient to compensate such Lender or such corporation in the light of such circumstances, to the extent that such Lender reasonably determines such increase in capital to be allocable to the existence of such Lender’s Advances or commitment to lend hereunder.  A certificate as to such amounts submitted to the Company and the Agent by such Lender shall be conclusive and binding for all purposes as to the calculations therein, absent manifest error.  Such certificate shall be in reasonable detail and shall certify that the claim for additional amounts referred to therein is generally consistent with such Lender’s treatment of similarly situated customers of such Lender whose transactions with such Lender are similarly affected by the change in circumstances giving rise to such payment, but such Lender shall not be required to disclose any confidential or proprietary information therein.

 

Section 2.12      Illegality.

 

Notwithstanding any other provision of this Agreement, if any Lender shall notify the Agent (and provide to the Company an opinion of counsel to the effect) that the introduction of or any change in or in the interpretation of any law or regulation makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for such Lender or its Eurodollar Lending Office to perform its obligations hereunder to make Eurodollar Rate Advances or to fund or maintain Eurodollar Rate Advances hereunder, (i) each Eurodollar Rate Advance made by such Lender will automatically, upon such demand, Convert into a Base Rate Advance or an Advance that bears interest at the rate set forth in Section 2.07(a), as the case may be, and (ii) the obligation of such Lender to make, or to Convert Revolving Credit Advances into, Eurodollar Rate Advances shall be suspended until such Lender shall notify the Company and the Agent that the circumstances causing such suspension no longer exist.

 

Section 2.13     Payments and Computations; Evidence of Advances.

 

(a)       The Borrowers shall make each payment hereunder and under the Notes not later than 11:00 A.M. (New York City time) on the day when due in U.S. dollars to the Agent at the Agent’s Account in same day funds without deduction, off-set or counterclaim except as provided in Section 2.14.  The Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal, interest, commitment fees ratably (other than amounts payable pursuant to Section 2.02(c), 2.05(b), 2.06(b), 2.11, 2.14 or 8.04(c)) to the Lenders for the account of their respective Applicable Lending Offices, and like funds relating to the payment of any other amount payable to any Lender to such Lender for the account of its Applicable Lending Office, in each case to be applied in accordance with the terms of this Agreement.  Upon its acceptance of an Assignment and Assumption and recording of the information contained therein in the Register pursuant to Section 8.07(d), from and after the effective date specified in such Assignment and Assumption, the Agent shall make all payments hereunder and under the Notes in respect of the interest assigned thereby to the Lender assignee thereunder, and the parties to such Assignment and Assumption shall make all appropriate adjustments in such payments for periods prior to such effective date directly between themselves.

 

(b)       All computations of interest based on the Base Rate (determined pursuant to clause (a) of the definition thereof) and of commitment fees shall be made by the Agent on the basis of a year of 365 or 366 days, as the case may be, and all computations of interest based on

 

  

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the Eurodollar Rate or the Federal Funds Rate shall be made by the Agent on the basis of a year of 360 days, in each case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest or fees are payable.  Each determination by the Agent of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error.

 

(c)        Whenever any payment hereunder or under the Notes shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or fees, as the case may be; provided, however, that, if such extension would cause payment of interest on or principal of Eurodollar Rate Advances to be made in the next following calendar month, such payment shall be made on the next preceding Business Day.

 

(d)        Unless the Agent shall have received notice from the Company prior to the date on which any payment is due to the Lenders hereunder that a Borrower will not make such payment in full, the Agent may assume that such Borrower has made such payment in full to the Agent on such date and the Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender.  If and to the extent such Borrower shall not have so made such payment in full to the Agent, each Lender shall repay to the Agent forthwith on demand such amount distributed to such Lender together with interest thereon, for each day from the date such amount is distributed to such Lender until the date such Lender repays such amount to the Agent, at the Federal Funds Rate.

 

(e)         The Advances made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the Agent in the ordinary course of business. The accounts or records maintained by the Agent and each Lender shall be conclusive absent manifest error of the amount of the Advances made by the Lenders to a Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of a Borrower hereunder to pay any amount owing with respect to the Advances. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Agent in respect of such matters, the accounts and records of the Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Agent, each Borrower shall execute and deliver to such Lender (through the Agent) a Revolving Credit Note which shall evidence such Lender's Advances in addition to such accounts or records. Each Lender may attach schedules to its Note or Notes and endorse thereon the date, Type (if applicable), amount and maturity of its Advances and payments with respect thereto.

 

Section 2.14     Taxes.

 

(a)       Each Lender is exempt from any withholding imposed under the laws of the United States in respect of any fees, interest or other payments to which it is entitled pursuant to this Agreement or the Notes (the “Income”) because (i) the Lender is a United States Person; (ii) the Income is effectively connected with the conduct of a trade or business within the United States within the meaning of Section 871 of the Internal Revenue Code; or (iii) the Income is eligible for an exemption by reason of a tax treaty.  The Agent is exempt from any withholding tax imposed under the laws of the United States in respect of the Income because the Income is effectively connected with the conduct of a trade or business within the United States within the meaning of Section 871 of the Internal Revenue Code.

 

  

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(b)       Each Lender that is a United States Person shall, on or prior to the date it becomes a party hereto and from time to time thereafter if requested in writing by the Company or the Agent, provide the Agent and the relevant Borrower with a properly completed and duly executed Internal Revenue Service Form W-9, or any successor or other form provided by the Internal Revenue Service.  Each Lender that is not a United States Person (each, a “Foreign Lender”) shall, on or prior to the date it becomes a party hereto and from time to time thereafter if requested in writing by the Company or the Agent, provide the Agent and the relevant Borrower with a properly completed and duly executed Internal Revenue Service Form W-8BEN or W-8ECI, as appropriate, or any successor or other form prescribed by the Internal Revenue Service, certifying that such Foreign Lender is exempt or entitled to a reduced rate of United States withholding tax on any Income that is the subject of such forms.  If the relevant Borrower determines, based on the form provided by a Foreign Lender (or the failure to provide such a form) at the time such Foreign Lender first becomes a party to this Agreement that a United States withholding tax rate in excess of zero applies to payments made by such Borrower to the Foreign Lender under this Agreement, such Borrower shall be permitted to deduct amounts from payments to such Foreign Lender to the extent required to pay withholding tax at such rate, and such amounts shall be considered excluded from Taxes as defined in Section 2.14(c); provided, however, that, if on the date of the Assignment and Assumption pursuant to which a Foreign Lender becomes a Foreign Lender, pursuant to the Assignment and Assumption provisions of Article VIII, the Foreign Lender assignor was entitled to payments under Section 2.14(c) in respect of United States withholding tax paid at such date, then, to such extent, the term Taxes shall include (in addition to Taxes that are imposed pursuant to a Change in Law after the date of Assignment and Assumption) United States withholding tax, if any, applicable with respect to the Foreign Lender assignee on such date.  For the avoidance of doubt, the obligations of any Borrower under Section 2.14 of this Agreement shall not be increased as the result of any assignment pursuant to Article VIII of this Agreement with respect to United States withholding tax; provided, however, that the foregoing shall not limit the obligation of any Borrower in respect of Taxes imposed as the result of any Change in Law after the date of the relevant Assignment and Assumption.

 

(c)        Except as set forth in Section 2.14(b) or as required by applicable law, any and all payments by any Borrower hereunder or under the Notes shall be made free and clear of and without deduction for any withholding taxes imposed on a Lender (such withholding taxes being hereinafter referred to as “Taxes”, which, for the avoidance of doubt, shall exclude any Excluded Taxes).  If any Borrower is required to deduct any Taxes from or in respect of any Income, then:  (i) the sum payable to such Lender shall be increased as may be necessary so that after making all required deductions for such Taxes (including deductions applicable to additional sums payable under this Section 2.14) such Lender receives an amount equal to the sum it would have received had no such deductions been made, (ii) such Borrower shall make such deductions and (iii) such Borrower shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with applicable law.  Within 30 days after the date of any payment of Taxes by the Company pursuant to clause (iii) of the preceding sentence, the Company shall furnish to the Agent, at its address referred to in Section 8.02, the original or a certified copy of a receipt evidencing payment thereof.  Notwithstanding the foregoing, each Borrower shall be entitled to pay any Taxes in any lawful manner so as to reduce any deductions and such Lender shall to the extent it is reasonably able provide any documentation or file any forms as may be required by the Internal Revenue Service or any other governmental agency.  In addition, if any Lender or the Agent (in lieu of such Lender), as the case may be, is required to pay directly any Taxes because a Borrower cannot or does not legally or timely do so, the Company shall indemnify such Lender or Agent for payment of such Taxes, without duplication of, or increase in, the amount of Taxes otherwise due to the Lender.

 

(d)        Notwithstanding the foregoing, the sum payable to a Lender shall not be increased, and no indemnification payments shall be made, pursuant to Section 2.14(c) with respect to any United States federal withholding taxes the Borrower is required to deduct from or in respect of any Income, except to the extent that (i) the Borrower is required to deduct such taxes as a result of the

 

  

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enactment, promulgation, execution or ratification of, or any change in or amendment to, any United States law or any tax treaty (or in the application or official interpretation of any law or any tax treaty) that occurs after the date a Lender first becomes a party to this Agreement (a “Change in Law”) or (ii) such taxes are “Taxes” solely as a result of the application of the proviso to the penultimate sentence of Section 2.14(b).

 

(e)         In addition, the Company agrees to pay any present or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies (excluding any income or franchise taxes, business taxes or capital taxes of any nature) that arise from the execution or delivery, or otherwise with respect to, this Agreement or the Notes (hereinafter referred to as “Other Taxes”).  If a Lender is required to pay directly Other Taxes because a Borrower cannot or does not legally or timely do so, the Company shall indemnify such Lender for such payment of Other Taxes.  Notwithstanding anything to the contrary in this Section 2.14, each Lender shall upon the written request of and at the expense of the Company use reasonable efforts to change the jurisdiction of its Applicable Lending Office if the making of such change would avoid the need for, or reduce the amount of, any such Other Taxes that may thereafter accrue and would not, in the reasonable judgment of such Lender, cause imposition on such Lender of any material legal or regulatory burdens.

 

(f)          To the extent any Lender is entitled to any exemption or reduction of foreign withholding taxes, each Lender shall cooperate with each Borrower by providing to the extent reasonably within its means any forms requested by such Borrower substantiating such reduction or exemption from such foreign withholding taxes required by any governmental agency.

 

(g)         For any period with respect to which a Lender has failed to comply with the requirements of subsection (b) or (f) relating to certain forms intended to reduce withholding taxes (other than if such failure is due to a Change in Law that makes compliance with subsection (b) or (f) unduly burdensome in the reasonable judgment of such Lender), such Lender shall not be entitled to indemnification under this Section 2.14.

 

(h)         Upon a Change in Law or the imposition of any Taxes, a Lender shall, upon the written request of and at the expense of the Company, use reasonable efforts to change the jurisdiction of its Applicable Lending Office if the making of such a change would avoid the need for, or reduce the amount of, any such Taxes that may thereafter accrue and would not, in the reasonable judgment of such Lender, cause the imposition on such Lender of any material legal or regulatory burdens.

 

(i)           Any request by any Lender for payment of any amount under this Section 2.14 shall be accompanied by a certification that such Lender’s claim for said amount is generally consistent with such Lender’s treatment of similarly situated customers of such Lender whose transactions with such Lender are similarly affected by the change in circumstances giving rise to such payment, but such Lender shall not be required to disclose any confidential or proprietary information therein.

 

(j)           If any Lender shall become aware, including by means of a request by the Borrower, that it is entitled to receive a refund (including, for all purposes of this subsection (j), any refund in the form of a credit from the jurisdiction imposing such Taxes or Other Taxes) in respect of Taxes or Other Taxes as to which it has been indemnified by a Borrower pursuant to this Section 2.14, or with respect to which a Borrower has paid additional amounts pursuant to this Section 2.14, it shall promptly notify such Borrower of the availability of such refund and shall, within 30 days after receipt of a request by the Borrower (whether as a result of notification that it has made to a Borrower or otherwise) to seek such refund, make a claim for such refund at such Borrower’s expense.  No Lender shall seek a refund without such approval by a Borrower.  If a Lender receives a refund in respect of any Taxes or Other Taxes as to which it has been indemnified by a Borrower pursuant to this Section 2.14, or with

 

  

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respect to which a Borrower has paid additional amounts pursuant to this Section 2.14, it shall promptly notify such Borrower of such refund and shall within 30 days from the date of receipt of such refund pay over the amount of such refund to such Borrower to the extent of indemnity payments made, or additional amounts paid, by such Borrower under this Section 2.14 with respect to the Taxes or Other Taxes giving rise to such refund plus any interest paid or credited with respect to such refund, net of all out-of-pocket expenses and net of any loss or gain realized in the conversion of such funds from one to another currency incurred by the Agent of such Lender, provided, that the Borrower, upon the request of the Agent or such Lender, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges imposed with respect to such Taxes or Other Taxes by the relevant governmental agency) to the Agent or such Lender in the event the Agent or such Lender is required to repay such refund to such governmental agency.  This subsection shall not be construed to require the Agent or any Lender to make available its tax returns (or any other information relating to its taxes that it reasonably deems confidential) to the Borrower or any other Person.

 

(k)           Notwithstanding anything to the contrary in this Agreement, the provisions of this Section 2.14 shall be the only provisions requiring the Company or any of its Subsidiaries to bear the cost of (or arising from) any taxes otherwise borne by any Lender.  For purposes of the preceding sentence, “taxes” includes any tax, governmental fee or other like assessment or charge of any kind whatsoever (including, but not limited to, withholding on amounts paid to or by the Company or its Subsidiaries), together with any interest, penalty, addition to tax or additional amount imposed with respect thereto.

 

Section 2.15     Sharing of Payments, Etc.

 

If any Lender shall obtain any payment (whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) on account of the Revolving Credit Advances owing to it (other than pursuant to Section 2.05(b), 2.06(b), 2.11, 2.14 or 8.04(c)) in excess of its ratable share thereof, such Lender shall forthwith purchase from the other Lenders such participations in the Revolving Credit Advances owing to them as shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of them; provided, however, that if all or any portion of such excess payment is thereafter recovered from such purchasing Lender, such purchase from each Lender shall be rescinded and such Lender shall repay to the purchasing Lender the purchase price to the extent of such recovery together with an amount equal to such Lender’s ratable share (according to the proportion of (i) the amount of such Lender’s required repayment to (ii) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered.  Each Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this Section 2.15 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off) with respect to such participation as fully as if such Lender were the direct creditor of such Borrower in the amount of such participation.

 

Section 2.16     Use of Proceeds.

 

The proceeds of the Advances shall be available (and the Company agrees that such proceeds shall be used) for general corporate purposes of the Company and its Subsidiaries, including but not limited to repayment of outstanding commercial paper issued by the Company and its Subsidiaries, working capital, capital investments and acquisitions.

 

Section 2.17     Borrowings by Borrowing Subsidiaries.

 

(a)       The Company may, at any time or from time to time upon not less than 10 Business Days’ notice in the case of any Subsidiary so designated after the Effective Date,

 

  

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designate one or more Subsidiaries as Borrowers hereunder by furnishing to the Agent a letter (a “Designation Letter”) in duplicate, in substantially the form of Exhibit D, duly completed and executed by the Company and such Subsidiary.  The Agent shall promptly notify each Lender of the Company’s notice of such pending designation by the Company and the identity of the Subsidiary.  Following the giving of any notice pursuant to this Section 2.17(a), if the designation of such Subsidiary obligates the Agent or any Lender to comply with “know your customer” or similar identification procedures in circumstances where the necessary information is not already available to it, the Company shall, promptly upon the request of the Agent or any Lender, supply such documentation and other evidence as is reasonably requested by the Agent or any Lender in order for the Agent or such Lender to carry out and be satisfied it has complied with the results of all necessary “know your customer” or other similar checks under all applicable laws and regulations.  Upon any such designation of a Subsidiary, such Subsidiary shall be a Borrowing Subsidiary and a Borrower entitled to borrow Revolving Credit Advances on and subject to the terms and conditions of this Agreement.

 

If the Company shall designate as a Borrowing Subsidiary hereunder any Subsidiary not organized under the laws of the United States or any State thereof, any Lender may, with notice to the Agent and the Company, fulfill its Commitment by causing an Affiliate of such Lender to act as the Lender in respect of such Borrowing Subsidiary (and such Lender shall, to the extent of Advances made to such Borrowing Subsidiary, be deemed for all purposes hereof to have pro tanto assigned such Advances and participations to such Affiliate in compliance with the provisions of Section 8.07).

 

As soon as practicable after receiving notice from the Company or the Agent of the Company’s intent to designate a Subsidiary as a Borrowing Subsidiary, and in any event no later than five Business Days after the delivery of such notice, if such Borrowing Subsidiary is organized under the laws of a jurisdiction other than of the United States or a political subdivision thereof, any Lender that may not legally lend to, establish credit for the account of and/or do any business whatsoever with such Borrowing Subsidiary directly or through an Affiliate of such Lender as provided in the immediately preceding paragraph (a “Protesting Lender”) shall so notify the Company and the Agent in writing.  With respect to each Protesting Lender, the Company shall, effective on or before the date that such Borrowing Subsidiary shall have the right to borrow hereunder, either (A) notify the Agent and such Protesting Lender that the Commitments of such Protesting Lender shall be terminated; provided that such Protesting Lender shall have received payment of an amount equal to the outstanding principal of its Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee Lender (to the extent of such outstanding principal and accrued interest and fees) or the Company or the relevant Borrowing Subsidiary (in the case of all other amounts), or (B) cancel its request to designate such Subsidiary as a “Borrowing Subsidiary” hereunder.

 

(b)       If all principal of and interest on all Advances made to any Borrowing Subsidiary have been paid in full, the Company may terminate the status of such Borrowing Subsidiary as a Borrower hereunder by furnishing to the Agent a letter (a “Termination Letter”) in substantially the form of Exhibit E, duly completed and executed by the Company.  Any Termination Letter furnished hereunder shall be effective upon receipt by the Agent, which shall promptly notify the Lenders, whereupon the Lenders shall, upon payment in full of all amounts owing by such Borrower hereunder, promptly deliver to the Company (through the Agent) the Notes, if any, of such former Borrower.  Notwithstanding the foregoing, the delivery of a Termination Letter with respect to any Borrower shall not terminate (i) any obligation of such Borrower that remains unpaid at the time of such delivery (including without limitation any obligation arising thereafter in respect of such Borrower under Section 2.11 or 2.14) or (ii) the obligations of the Company

 

  

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under Article IX with respect to any such unpaid obligations; provided that if the status of such Borrowing Subsidiary has been terminated as aforesaid because the Company has sold or transferred its interest in such Subsidiary, and the Company so certifies to the Agent at the time of the delivery of such Termination Letter, and subject to payment of said principal and interest, (A) such Subsidiary shall automatically, upon the effectiveness of the delivery of such Termination Letter and certification, cease to have any obligation under this Agreement or the Notes and (B) the Company shall automatically be deemed to have unconditionally assumed, as primary obligor, and hereby agrees to pay and perform, all of such obligations.

 

Section 2.18     License Agreement and CDS Data.

 

(a)       The Agent hereby notifies the Company and the Lenders that it has entered into a licensing agreement (the “Licensing Agreement”) with Markit, pursuant to which Markit will provide to the Agent for each Business Day a composite end of day credit default swap spread for the one (1) year credit default swap spread of the Company (the “CDS Data”) that the Agent will use to determine the Credit Default Swap Spread.  The Agent hereby further notifies the Company and the Lenders that, pursuant to the Licensing Agreement, (i) the CDS Data will be provided by Markit on an “as is” basis, without express or implied warranty as to accuracy, completeness, title, merchantability or fitness for a particular purpose, (ii) Markit has no liability to the Agent for any inaccuracies, errors or omissions in the CDS Data, except in the event of its gross negligence, fraud or willful misconduct, (iii) the CDS Data, as provided by Markit, constitutes confidential information (and each Lender agrees to treat such information in confidence to the same extent and in the same manner as such Lender is required to hold Confidential Information pursuant to Section 8.08 hereof), (iv) the CDS Data, as provided by Markit, may be used by the Agent, the Company and the Lenders solely for the purposes of this Agreement and (v) Markit and the Agent, except in each case in the event of its gross negligence, fraud or willful misconduct, shall have no liability whatsoever to either the Company or any Lender or any client of a Lender, whether in contract, in tort, under a warranty, under statute or otherwise, in respect of any loss or damage suffered by the Company, such Lender or client as a result of or in connection with any opinions, recommendations, forecasts, judgments or any other conclusions, or any course of action determined, by such Lender or any client of such Lender based on the CDS Data.  Each of the Company and the Lenders (other than BNPP, in its capacity as the Agent, which is a party thereto) agrees that it shall not be a third party beneficiary of the Licensing Agreement and shall have no rights or obligations thereunder.

 

(b)       The CDS Data shall be made available to the Company pursuant to procedures agreed upon by the Company and the Agent.  The Company agrees that it will use reasonable efforts (e.g., procedures substantially comparable to those applied by the Company in respect of non-public information as to the business of the Company) to keep confidential the CDS Data and the related materials provided by Markit pursuant to the Licensing Agreement to the extent that the same is not and does not become publicly available.

 

(c)        It is understood and agreed that in the event of a breach of confidentiality, damages may not be an adequate remedy and that the Licensing Agreement provides that Markit shall be entitled to injunctive relief to restrain any such breach, threatened or actual.

 

(d)        The Company acknowledges that each of the Agent and the Lenders from time to time may conduct business with and may be a shareholder of Markit and that each of the Agent and the Lenders may have from time to time the right to appoint one or more directors to the board of directors of Markit.

 

  

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Section 2.19       Defaulting Lenders.

 

(a)         Defaulting Lender Adjustments.  Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law:

 

(i)           Waivers and Amendments.  Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definition of Required Lenders.

 

(ii)           Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the Agent hereunder for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VI or otherwise) or received by the Agent from a Defaulting Lender pursuant to Section 8.05 shall be applied at such time or times as may be determined by the Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Agent hereunder; second, as the Company may request (so long as no Default exists), to the funding of any Advance in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Agent; third, if so determined by the Agent and the Company, to be held in a deposit account and released pro rata in order to satisfy such Defaulting Lender’s potential future funding obligations with respect to Advances under this Agreement; fourth, so long as no Default exists, to the payment of any amounts owing to the Company as a result of any judgment of a court of competent jurisdiction obtained by the Company against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and fifth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Advances in respect of which such Defaulting Lender has not fully funded its appropriate share, and (y) such Advances were made at a time when the conditions set forth in Section 3.02 were satisfied or waived, such payment shall be applied solely to pay the Advances of all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Advances owed to, such Defaulting Lender until such time as all Advances are held by the Lenders pro rata in accordance with the Commitments. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender pursuant to this Section 2.19 shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

 

(iii)           Commitment Fees. No Defaulting Lender shall be entitled to receive any Commitment Fee for any period during which that Lender is a Defaulting Lender (and the Company shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender).

 

(b)         Defaulting Lender Cure.  If the Company and the Agent agree in writing that a Lender is no longer a Defaulting Lender, the Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein, that Lender will, to the extent applicable, purchase at par that portion of outstanding Advances of the other Lenders or take such other actions as the Agent may determine to be necessary to cause the Advances to be held pro rata by the Lenders in accordance with the Commitments, whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Company

 

  

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while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

 

ARTICLE III

 

CONDITIONS TO EFFECTIVENESS AND LENDING

 

Section 3.01     Conditions Precedent to Effectiveness.

 

This Agreement shall become effective on and as of the first date (the “Effective Date”) on which the following conditions precedent have been satisfied:

 

(a)       As of the Effective Date, there shall have occurred no Material Adverse Change since December 25, 2010 that has not been publicly disclosed.

 

(b)       As of the Effective Date, there shall exist no action, suit, investigation, litigation or proceeding affecting the Company or any of its Subsidiaries pending or, to the knowledge of the Company, threatened before any court, governmental agency or arbitrator that (i) could be reasonably likely to have a Material Adverse Effect that has not been publicly disclosed prior to the date hereof or (ii) could reasonably be likely to affect the legality, validity or enforceability of this Agreement or any Note or the consummation of the transactions contemplated hereby.

 

(c)        As of the Effective Date, all governmental and third party consents and approvals necessary in connection with the transactions contemplated hereby, if any, shall have been obtained (without the imposition of any conditions that are not acceptable to the Lenders) and shall remain in effect.

 

(d)        As of the Effective Date, the Company shall have paid all reasonable accrued fees and expenses of the Agent, the Syndication Agents, the Lead Arrangers and the Lenders (including the reasonable accrued and invoiced fees and expenses of one counsel to the Agent).

 

(e)         On the Effective Date, the following statements shall be true and the Agent shall have received for the account of each Lender a certificate signed by a duly authorized officer of the Company, dated the Effective Date, stating that:

 

(i)           The representations and warranties contained in Section 4.01 are correct on and as of the Effective Date, and

 

(ii)           No event has occurred and is continuing that constitutes a Default.

 

(f)          The Agent shall have received on or before the Effective Date the following, each dated such date, in form and substance satisfactory to the Agent:

 

(i)           To the extent requested by a Lender at least three Business Days prior to the Effective Date, Revolving Credit Notes payable to the order of each Lender.

 

(ii)           Certified copies of the resolutions of the Board of Directors of the Company approving this Agreement and the Notes, and of all documents evidencing other necessary corporate action and governmental approvals, if any, with respect to this

 

  

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Agreement and the Notes, including, without limitation, copies of the articles of incorporation and bylaws of the Company.

 

(iii)           A certificate of the Secretary or an Assistant Secretary of the Company certifying the names and true signatures of the officers of the Company authorized to sign this Agreement and the Notes and the other documents to be delivered hereunder.

 

(iv)           Favorable opinions of one or more counsel to the Company, in form and substance reasonably satisfactory to the Agent and the Lenders.

 

(v)           An executed copy of this Agreement from each party hereto.

 

(g)       The Agent shall have received evidence of (i) the termination of the commitments to make extensions of credit to the Company and the Borrowing Subsidiaries by the lenders party to each of the Existing Credit Agreements and (ii) payment in full of all amounts owing under each of the Existing Credit Agreements.  Each of the Lenders that is a party to any of the Existing Credit Agreements hereby waives the requirement of prior notice of termination of the commitments under each Existing Credit Agreement.

 

Section 3.02     Conditions Precedent to Each Revolving Credit Borrowing.

 

The obligation of each Lender to make a Revolving Credit Advance on the occasion of each Revolving Credit Borrowing shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Revolving Credit Borrowing:

 

(a)        the following statements shall be true (and each of the giving of the applicable Notice of Revolving Credit Borrowing and the acceptance by any Borrower of the proceeds of such Revolving Credit Borrowing shall constitute a representation and warranty by the Company and such Borrower that on the date of such Borrowing such statements are true):

 

(i)           The representations and warranties contained in Section 4.01 (except the representations set forth in the last sentence of subsection (e) thereof and in subsection (f) thereof (other than clause (ii) thereof)) are correct on and as of the date of such Revolving Credit Borrowing, before and after giving effect to such Revolving Credit Borrowing and to the application of the proceeds therefrom, as though made on and as of such date, and

 

(ii)           No event has occurred and is continuing, or would result from such Revolving Credit Borrowing or from the application of the proceeds therefrom, that constitutes a Default; and

 

(b)        the Agent shall have received the Notice of Revolving Credit Borrowing and, in the case of the first Borrowing by a Borrowing Subsidiary, the Agent shall have received such Revolving Credit Notes as have been requested pursuant to Section 2.13(e), corporate documents, resolutions and legal opinions relating to such Borrowing Subsidiary as the Agent may reasonably require.

 

Section 3.03       Determinations Under Section 3.01.

 

For purposes of determining compliance with the conditions specified in Section 3.01, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the

 

  

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Lenders unless an officer of the Agent responsible for the transactions contemplated by this Agreement shall have received written notice from such Lender prior to the proposed Effective Date, as notified by the Company to the Lenders, specifying its objection thereto.  The Agent shall promptly notify the Lenders and the Company of the occurrence of the Effective Date.

 

ARTICLE IV

 

REPRESENTATIONS AND WARRANTIES

 

Section 4.01     Representations and Warranties of the Company.

 

The Company represents and warrants as follows:

 

(a)       The Company is a corporation duly organized and validly existing under the laws of the State of North Carolina.

 

(b)       The execution, delivery and performance by the Company of this Agreement and the Notes, and the consummation of the transactions contemplated hereby, are within the Company’s corporate powers, have been duly authorized by all necessary corporate action, and do not contravene (i) the Company’s articles of incorporation or by-laws or (ii) in any material respect, any law or any material contractual restriction binding on or affecting the Company.

 

(c)        No authorization or approval or other action by, and no notice to or filing with, any governmental authority or regulatory body or any other third party is required, other than those that have been obtained prior to the date hereof and remain in effect, for the due execution, delivery and performance by the Company of this Agreement or the Notes.

 

(d)        This Agreement has been, and each of the Notes when delivered hereunder will have been, duly executed and delivered by the Company.  This Agreement is, and each of the Notes when delivered hereunder will be, the legal, valid and binding obligation of the Company enforceable against the Company in accordance with their respective terms.

 

(e)         The Consolidated balance sheet of the Company and its Subsidiaries as at December 25, 2010, and the related Consolidated statements of income and cash flows and common shareholders’ equity of the Company and its Subsidiaries for the fiscal year then ended, accompanied by an opinion of KPMG LLP, independent registered public accounting firm, present fairly, in all material respects, the Consolidated financial condition of the Company and its Subsidiaries as at such date and the Consolidated results of the operations of the Company and its Subsidiaries for the year ended on such date, all in accordance with United States generally accepted accounting principles consistently applied.  Since December 25, 2010, there has been no Material Adverse Change that has not been publicly disclosed prior to the date hereof.

 

(f)          There is no pending or, to the Company’s knowledge, threatened, action, suit, investigation, litigation or proceeding affecting the Company before any court, governmental agency or arbitrator that (i) would be reasonably likely to have a Material Adverse Effect that has not been publicly disclosed prior to the date hereof or (ii) would reasonably be likely to affect the legality, validity or enforceability of this Agreement or any Note or the consummation of the transactions contemplated hereby.

 

(g)         The Company is not engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U issued by the Board

 

  

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of Governors of the Federal Reserve System), and no proceeds of any Advance will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying any margin stock in violation of the margin rules.

 

(h)           Neither the Company nor any of its Borrowing Subsidiaries is or is required to be registered as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended.

 

ARTICLE V

 

COVENANTS OF THE COMPANY

 

Section 5.01     Affirmative Covenants.

 

So long as any Advance shall remain unpaid or any Lender shall have any Commitment hereunder, the Company will:

 

(a)       Compliance with Laws, Etc.  Comply, and cause each of its Subsidiaries to comply, in all material respects, with all applicable laws, rules, regulations and orders, such compliance to include, without limitation, compliance with ERISA and Environmental Laws, except where failure so to comply would not, and would not be reasonably likely to, have a Material Adverse Effect.

 

(b)       Payment of Taxes, Etc.  Except where failure to do so would not, and would not be reasonably likely to, have a Material Adverse Effect, pay and discharge, and cause each of its Subsidiaries to pay and discharge, before the same shall become delinquent, (i) all taxes, assessments and governmental charges or levies imposed upon it or upon its property and (ii) all lawful claims that, if unpaid, might by law become a Lien upon its property.  Notwithstanding the preceding sentence, neither the Company nor any of its Subsidiaries shall be required to pay or discharge any such tax, assessment, charge or claim that is being contested in good faith and by proper proceedings and as to which appropriate reserves are being maintained, unless and until any Lien resulting therefrom attaches to its property and becomes enforceable against its other creditors and such contested payment would be reasonably likely to have a Material Adverse Effect.

 

(c)        Preservation of Corporate Existence, Etc.  (i) Preserve and maintain its corporate existence; provided, however, that the Company may consummate any merger or consolidation permitted under Section 5.02(b); and (ii) preserve and maintain, and cause each of its Material Subsidiaries to preserve and maintain, its rights (charter and statutory) and franchises; provided, however, that neither the Company nor any of its Material Subsidiaries shall be required to preserve any right or franchise if the Board of Directors of the Company or such Material Subsidiary shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company or such Material Subsidiary, as the case may be, and that the loss thereof is not disadvantageous in any material respect to the Company, such Material Subsidiary or the Lenders.

 

(d)        Reporting Requirements.  Furnish to the Agent:

 

(i)           as soon as available and in any event within 45 days after the end of each of the first three quarters of each fiscal year of the Company, the Consolidated balance sheet of the Company and its Subsidiaries as of the end of such quarter and Consolidated

 

  

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statements of income and cash flows of the Company and its Subsidiaries for the period commencing at the end of the previous fiscal year and ending with the end of such quarter, duly certified (subject to year-end audit adjustments) by the chief financial officer of the Company as having been prepared in accordance with GAAP, it being agreed that delivery of the Company’s Quarterly Report on Form 10-Q will satisfy this requirement;

 

(ii)           as soon as available and in any event within 90 days after the end of each fiscal year of the Company, a copy of the annual audit report for such year for the Company and its Consolidated Subsidiaries, containing the Consolidated balance sheet of the Company and its Subsidiaries as of the end of such fiscal year and Consolidated statements of income and cash flows of the Company and its Subsidiaries for such fiscal year, in each case accompanied by an opinion by KPMG LLP or other independent public accountants, it being agreed that delivery of the Company’s Annual Report on Form 10-K will satisfy this requirement;

 

(iii)           as soon as possible and in any event within five days after the occurrence of each Default continuing on the date of such statement, a statement of the chief financial officer of the Company setting forth details of such Default and the action that the Company has taken and proposes to take with respect thereto; and

 

(iv)           promptly after the sending or filing thereof copies of all annual reports and proxy solicitations that the Company sends to any of its security holders, and copies of all reports on Form 8-K that the Company or any Subsidiary files with the Securities and Exchange Commission.

 

Reports and financial statements required to be delivered by the Company pursuant to this subsection (d) shall be deemed to have been delivered on the date on which the Company posts such reports, or reports containing such financial statements, on its website on the Internet at www.pepsico.com, at www.sec.gov or at such other website identified by the Company in a notice to the Agent and that is accessible by the Lenders without charge.

 

Section 5.02     Negative Covenants.

 

So long as any Advance shall remain unpaid or any Lender shall have any Commitment hereunder, the Company will not:

 

(a)       Secured Debt.  Create or suffer to exist, or permit any of its Restricted Subsidiaries to create or suffer to exist, any Debt secured by a Lien on (i) any Principal Property, (ii) any shares of stock of a Restricted Subsidiary or (iii) any Debt of any Restricted Subsidiary unless the Company or such Restricted Subsidiary secures or causes such Restricted Subsidiary to secure the Advances and all other amounts payable under this Agreement and the Notes equally and ratably with such secured Debt, so long as such secured Debt shall be so secured, unless after giving effect thereto the aggregate amount of all such Debt so secured does not exceed 15% of Consolidated Net Tangible Assets at such time, provided that the foregoing restriction does not apply to Debt secured by:

 

(i)           Liens existing prior to the date hereof;

 

(ii)           Liens on property of, or on shares of stock of or Debt of, any corporation existing at the time such corporation becomes a Restricted Subsidiary;

 

  

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(iii)           Liens in favor of the Company or any Restricted Subsidiary;

 

(iv)           Liens in favor of any governmental bodies to secure progress or advance payments;

 

(v)           Liens on property, shares of stock or Debt existing at the time of acquisition thereof (including acquisition through merger or consolidation) or to secure the payment of all or any part of the purchase price thereof or construction thereon or to secure any Debt incurred prior to, at the time of, or within 120 days after the later of the acquisition, the completion of construction, or the commencement of full operation of such property or within 120 days after the acquisition of such shares or Debt for the purpose of financing all or any part of the purchase price thereof or construction thereon; and

 

(vi)           any extension, renewal or refunding referred to in the foregoing clauses (i) to (v), inclusive.

 

Notwithstanding the foregoing, neither the Company nor any Restricted Subsidiary shall be required to secure the Advances or any other amount payable under this Agreement with more than 65% of the capital stock (as measured by vote or value) of, or any of the assets of, any “controlled foreign corporation,” within the meaning of Section 957(a) of the Code unless other Debt of the Company or any Restricted Subsidiary is so secured.

 

(b)       Mergers, Etc.  Consolidate or merge with or into any other corporation, or convey or transfer all or substantially all of its properties and assets to, any Person unless:

 

(i)           either (A) the Company shall be the continuing corporation or (B) the corporation formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer all or substantially all of the properties and assets of the Company shall be a corporation that (1) has obtained a rating on its long-term indebtedness of A- or higher from Standard & Poor’s Ratings Group and Aa3 or higher from Moody’s Investors Service, Inc., (2) is organized and existing under the laws of the United States of America or any State thereof or the District of Columbia and (3) shall expressly assume the Company’s obligations under this Agreement pursuant to documentation in form and substance reasonably satisfactory to the Agent; and

 

(ii)           immediately prior to and after giving effect to such transaction, no Default shall have occurred and be continuing.

 

The requirement of Section 5.02(b)(i)(A) will not apply to any merger or consolidation of the Company with or into an Affiliate solely for the purpose of reincorporating the Company in a jurisdiction referred to in Section 5.02(b)(i)(B)(2).  In any case in which the Company is merged or consolidated in accordance with this Section 5.02(b), the Company shall provide to each Lender such information as such Lender may reasonably request to satisfy “know your customer” and similar requirements.

 

  

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ARTICLE VI

 

EVENTS OF DEFAULT

 

Section 6.01     Events of Default.

 

If any of the following events (“Events of Default”) shall occur and be continuing:

 

(a)       Any Borrower shall fail to pay any principal of, or interest on, any Advance or to make any other payment under this Agreement or any Note, in each case within five Business Days after the same becomes due and payable; or

 

(b)       Any representation or warranty made by the Company herein or by any Borrower in connection with this Agreement (including without limitation by any Borrowing Subsidiary pursuant to any Designation Letter) shall prove to have been incorrect in any material respect when made; or

 

(c)        (i)  The Company shall fail to perform or observe any term, covenant or agreement contained in Sections 5.01(d) or 5.02, or (ii) the Company shall fail to perform or observe any other term, covenant or agreement contained in this Agreement on its part to be performed or observed if such failure shall remain unremedied for 30 days after written notice thereof shall have been given to the Company by the Agent or any Lender; or

 

(d)        The Company or any of its Material Subsidiaries shall fail to pay any principal of or premium or interest on any Debt that is outstanding in a principal or notional amount of at least $500,000,000 in the aggregate (but excluding Debt outstanding hereunder) of the Company or such Material Subsidiary (as the case may be), when the same becomes due and payable (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Debt; or any other event shall occur or condition shall exist under any agreement or instrument relating to any such Debt and shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such event or condition is to accelerate the maturity of such Debt; or any such Debt shall be declared to be due and payable, or required to be prepaid or redeemed (other than by a regularly scheduled required prepayment or redemption), purchased or defeased, or an offer to prepay, redeem, purchase or defease such Debt shall be required to be made, in each case prior to the stated maturity thereof; or

 

(e)         The Company or any of its Material Subsidiaries shall generally not pay its debts as such debts become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against the Company or any of its Material Subsidiaries seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its property and, in the case of any such proceeding instituted against it (but not instituted by it), either such proceeding shall remain undismissed or unstayed for a period of 30 days, or any of the actions sought in such proceeding (including, without limitation, the entry of an order for relief against, or the appointment of a receiver, trustee, custodian or other similar official for, it or for any substantial part of its property) shall occur; or the Company or any of its Material Subsidiaries shall take any corporate action to authorize any of the actions set forth above in this

 

  

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subsection (e); or

 

(f)          Any judgment or order for the payment of money in excess of $500,000,000 shall be rendered against the Company or any of its Material Subsidiaries and either (i) enforcement proceedings shall have been commenced by any creditor upon such judgment or order or (ii) there shall be any period of 10 consecutive days during which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise, shall not be in effect; provided, however, that any such judgment or order shall not be an Event of Default under this Section 6.01(f) if and for so long as (i) the amount of such judgment or order is covered by a valid and binding policy of insurance between the defendant and the insurer covering payment thereof and (ii) such insurer, which shall be rated at least “A” by A.M. Best Company, has been notified of, and has not disputed the claim made for payment of, the amount of such judgment or order; or

 

(g)         Any event, action or condition with respect to an employee benefit plan of the Company subject to Title IV of ERISA results in any penalty or action pursuant to ERISA that has a Material Adverse Effect;

 

then, and in any such event, the Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Company, declare the obligation of each Lender to make Advances to be terminated, whereupon the same shall forthwith terminate and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Company declare the Advances, all interest thereon and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Advances, all such interest and all such amounts shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Company; provided, however, that in the event of an actual or deemed entry of an order for relief with respect to the Company under the Federal Bankruptcy Code, (A) the obligation of each Lender to make Advances shall automatically be terminated and (B) the Advances, all such interest and all such amounts shall automatically become and be due and payable, without presentment, protest or any notice of any kind, all of which are hereby expressly waived by the Company.

 

ARTICLE VII

 

THE AGENT

 

Section 7.01     Appointment and Authority.

 

Each of the Lenders hereby irrevocably appoints Citibank, N.A. to act on its behalf as the Agent hereunder and under the other Loan Documents and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto.  Except as expressly provided herein, the provisions of this Article are solely for the benefit of the Agent and the Lenders, and the Borrowers shall not have rights as a third-party beneficiary of any of such provisions.  It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the 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 is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties.  The Agent agrees to give to each Lender prompt notice of each notice given to it by the Company pursuant to the terms of this Agreement.

 

  

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Section 7.02     Rights as a Lender.

 

The Person serving as the 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 the Agent, and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Agent hereunder in its individual capacity.  Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for, and generally engage in any kind of business with, the Company or any Subsidiary or other Affiliate thereof as if such Person were not the Agent hereunder and without any duty to account therefor to the Lenders.

 

Section 7.03     Exculpatory Provisions.

 

(a)      The Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature.  Without limiting the generality of the foregoing, the Agent:

 

(i)           shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;

 

(ii)           shall not 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 the 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 the Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Agent to liability or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any debtor relief law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any debtor relief law; and

 

(iii)           shall not, 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 the Company or any of its Affiliates that is communicated to or obtained by the Person serving as the Agent or any of its Affiliates in any capacity.

 

(b)       The Agent shall not be liable for any action taken or not taken by it (i) 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 the Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 8.01 and 6.01), or (ii) in the absence of its own gross negligence, bad faith or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment.  The Agent shall be deemed not to have knowledge of any Default unless and until notice describing such Default is given to the Agent in writing by the Company or a Lender.

 

(c)        The Agent shall not 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

 

  

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III or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Agent.

 

Section 7.04     Reliance by Agent.

 

The 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.  The 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 an Advance that by its terms must be fulfilled to the satisfaction of a Lender, the Agent may presume that such condition is satisfactory to such Lender unless the Agent shall have received notice to the contrary from such Lender prior to the making of such Advance.  The Agent may consult with legal counsel (who may be counsel for the Company), 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 7.05     Indemnification.

 

The Lenders agree to indemnify the Agent (to the extent not reimbursed by the Company), ratably according to the respective outstanding principal amounts of the Revolving Credit Advances then made by each of them (or if no Revolving Credit Advances are at the time outstanding, ratably according to the respective amounts of their Commitments), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever that may be imposed on, incurred by, or asserted against the Agent in any way relating to or arising out of this Agreement or any action taken or omitted by the Agent under this Agreement; provided that no Lender shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting from the Agent’s gross negligence or willful misconduct.  Without limitation of the foregoing, each Lender agrees to reimburse the Agent promptly upon demand for its ratable share of any out-of-pocket expenses (including counsel fees) incurred by the Agent in connection with the preparation, execution, delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement, to the extent that the Agent is not reimbursed for such expenses by the Company.

 

Section 7.06     Delegation of Duties.

 

The 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 any one or more sub-agents appointed by the Agent and approved by the Company.  The 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 shall apply to any such sub-agent and to the Related Parties of the Agent and any such sub-agent.  The Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and non appealable judgment that the Agent acted with gross negligence or willful misconduct in the selection of such sub-agents.

 

Section 7.07     Resignation of Agent.

 

(a)      The Agent may at any time give notice of its resignation to the Lenders and the Company.  Upon receipt of any such notice of resignation, the Required Lenders shall have the right to

 

  

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appoint a successor approved by the Company, 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 (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Agent may (but shall not be obligated to), on behalf of the Lenders, appoint a successor Agent meeting the qualifications set forth above.  Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date.

(b)      If the Person serving as Agent is a Defaulting Lender pursuant to clause (e) of the definition thereof, the Required Lenders may, to the extent permitted by applicable law, by notice in writing to the Company and such Person remove such Person as Agent and appoint a successor approved by the Company.  If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days (or such earlier day as shall be agreed by the Required Lenders) (the “Removal Effective Date”), then such removal shall nonetheless become effective in accordance with such notice on the Removal Effective Date.

(c)      With effect from the Resignation Effective Date or the Removal Effective Date (as applicable) (1) the retiring or removed Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and (2) all payments, communications and determinations provided to be made by, to or through the Agent shall instead be made by or to each Lender directly, until such time, if any, as the Required Lenders appoint a successor Agent as provided for above.  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 removed Agent, and the retiring or removed Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents.  The fees payable by the Company to a successor Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Company and such successor.  After the retiring or removed Agent’s resignation or removal hereunder and under the other Loan Documents, the provisions of this Article (and, as to the Agent, Section 8.04) shall continue in effect for the benefit of such retiring or removed 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 or removed Agent was acting as Agent.

 

Section 7.08     Non-Reliance on Agent and Other Lenders.

 

Each Lender acknowledges that it has, independently and without reliance upon the Agent or any other Lender or any of their Related Parties 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 also acknowledges that it will, independently and without reliance upon the Agent or any other Lender or any of their Related Parties 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 7.09     Syndication Agent and Lead Arrangers.

 

Without prejudice to the obligations of the Agent hereunder, the Syndication Agent and Lead Arrangers, in their capacities as such, have no duties, obligations or responsibilities under this Agreement.

 

  

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ARTICLE VIII

 

MISCELLANEOUS

 

Section 8.01     Amendments, Etc.

 

No amendment or waiver of any provision of this Agreement or the Revolving Credit Notes, nor consent to any departure by any Borrower therefrom, shall in any event be effective unless the same shall be in writing and signed by the Company and the Required Lenders, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no amendment, waiver or consent shall, unless in writing and signed by all the Lenders affected thereby, do any of the following:  (a) waive any of the conditions specified in Section 3.01, (b) increase the Commitment of a Lender or subject a Lender to any additional obligations, (c) reduce the principal of, or interest on, the Revolving Credit Advances or any fees or other amounts payable hereunder, (d) postpone any date fixed for any payment of principal of, or interest on, the Revolving Credit Notes or any fees or other amounts payable hereunder, (e) change the percentage of the Commitments or of the aggregate unpaid principal amount of the Revolving Credit Notes, or the number of Lenders, that shall be required for the Lenders or any of them to take any action hereunder, (f) release the guarantee as set forth in Section 9.01, (g) modify Section 2.15 or any other provision of this Agreement that relates to the pro rata treatment of the Lenders hereunder or (h) amend this Section 8.01; and provided further that no amendment, waiver or consent shall, unless in writing and signed by the Agent in addition to the Lenders required above to take such action, affect the rights or duties of the Agent under this Agreement or any Note.

 

Section 8.02     Notices, Etc.

 

(a)       All notices and other communications provided for hereunder shall be either (x) in writing (including telecopier communication) and mailed, telecopied, or delivered or (y) as and to the extent set forth in Section 8.02(b) and in the proviso to this Section 8.02(a), if to any Borrower, to the Company at its address at 700 Anderson Hill Road, Purchase, New York 10577, Attention:  Assistant Treasurer, Telecopier No. (914) 253-3303, with a copy to General Counsel, Telecopier No. (914) 253-3123; if to any Initial Lender, at its Domestic Lending Office set forth in its Administrative Questionnaire; if to any other Lender, at its Domestic Lending Office specified in the Assignment and Assumption pursuant to which it became a Lender; and if to the Agent, at the Agent’s Address; or, as to the Company or the Agent, at such other address as shall be designated by such party in a written notice to the other parties and, as to each other party, at such other address as shall be designated by such party in a written notice to the Company and the Agent, provided that materials required to be delivered pursuant to Section 5.01(d) shall be delivered to the Agent as specified in the last sentence of Section 5.01(d).  All such notices and communications mailed or sent by hand or overnight courier service shall be deemed to have been given when received; notices and communications sent by telecopier shall be deemed to have been given when sent (except that, if not received during normal business hours for the recipient, shall be deemed to have been received at the opening of business on the next business day for the recipient).  The Company and the Agent may agree to accept notice and other communications by electronic means pursuant to procedures approved by both parties.

 

(b)       The Company agrees that the Agent may make any written information, documents, instruments and other written materials that have been provided to the Agent pursuant to the terms hereof (collectively, the “Communications”) available to the Lenders by posting such notices on Intralinks or a substantially similar electronic system (the “Platform”).  The Company acknowledges that (i) the distribution of material through an electronic medium is not necessarily

 

  

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secure and that there are confidentiality and other risks associated with such distribution, (ii) the Platform is provided “as is” and “as available” and (iii) neither the Agent nor any of its Affiliates warrants the accuracy, adequacy or completeness of the Communications or the Platform and each expressly disclaims liability for errors or omissions in the Communications or the Platform.  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 the Agent or any of its Affiliates in connection with the Platform.

 

(c)        Each Lender agrees that notice to it (as provided in the next sentence) (a “Notice”) received by it during its normal business hours specifying that any Communications have been posted to the Platform shall constitute effective delivery of such information, documents or other materials to such Lender for purposes of this Agreement; provided that if requested by any Lender the Agent shall deliver a copy of the Communications to such Lender by e-mail or telecopier.  Each Lender agrees (i) to notify the Agent in writing of such Lender’s e-mail address to which a Notice may be sent by electronic transmission (including by electronic communication) on or before the date such Lender becomes a party to this Agreement (and from time to time thereafter to ensure that the Agent has on record an effective e-mail address for such Lender) and (ii) that any Notice may be sent to such e-mail address.

 

Section 8.03     No Waiver; Remedies.

 

No failure on the part of any Lender or the Agent to exercise, and no delay in exercising, any right hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right.  The remedies herein provided are cumulative and not exclusive of any remedies provided by law.

 

Section 8.04     Costs and Expenses.

 

(a)       The Company agrees to pay on demand all reasonable costs and expenses of the Agent and the Lenders, if any (including, without limitation, reasonable counsel fees and expenses), in connection with the enforcement (whether through negotiations, legal proceedings or otherwise) of this Agreement, the Notes and the other documents to be delivered hereunder, including, without limitation, reasonable fees and expenses of counsel for the Agent and each Lender in connection with the enforcement of rights under this Section 8.04(a).

 

(b)       The Company agrees to indemnify and hold harmless the Agent and each Lender and each of their Affiliates and their officers, directors, employees, agents and advisors (each, an “Indemnified Party”) from and against any and all claims, damages, losses, liabilities and expenses (including, without limitation, reasonable fees and expenses of counsel) that may be incurred by or asserted or awarded against any Indemnified Party, in each case arising out of or in connection with or by reason of, or in connection with the preparation for a defense of, any investigation, litigation or proceeding arising out of, related to or in connection with the Notes, this Agreement, any of the transactions contemplated herein or the actual or proposed use of the proceeds of the Advances, whether or not such investigation, litigation or proceeding is brought by any Borrower, its directors, shareholders or creditors or an Indemnified Party or any other Person or any Indemnified Party is otherwise a party thereto and whether or not the transactions contemplated hereby are consummated, except to the extent such claim, damage, loss, liability or expense is found in a final, non-appealable judgment by a court of competent jurisdiction to have resulted from such Indemnified Party’s gross negligence or willful misconduct.  No Indemnified

 

  

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Party shall be liable for any damages arising from the use by others of any information or other materials obtained through IntraLinks or other similar information transmission systems in connection with this Agreement.  No party hereto shall have any liability to any other party hereto for any indirect, punitive or consequential damages relating to this Agreement or any other Loan Document or arising out of its activities in connection herewith or therewith.

 

(c)        If any payment of principal of, or Conversion of, any Eurodollar Rate Advance is made by any Borrower to or for the account of a Lender other than on the last day of the Interest Period for such Advance, as a result of a payment or Conversion pursuant to Section 2.08(d) or (e), 2.10 or 2.12, acceleration of the maturity of the Advances pursuant to Section 6.01 or for any other reason, or if any Eurodollar Rate Advance is assigned on any day other than the last day of an Interest Period therefor as a result of a request by Company pursuant to Section 2.05 or 8.07, the Company shall, upon demand by such Lender (with a copy of such demand to the Agent), pay to the Agent for the account of such Lender any amounts required to compensate such Lender for any additional losses, costs or expenses that it may reasonably incur as a result of such payment or Conversion, including, without limitation, any loss, cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by any Lender to fund or maintain such Advance.

 

(d)           Without prejudice to the survival of any other agreement of any Borrower hereunder, the agreements and obligations of the Company contained in Sections 2.11, 2.14 and 8.04 shall survive the payment in full of principal, interest and all other amounts payable hereunder and under the Notes and the termination of this Agreement.

 

Section 8.05     Right of Set-off.

 

Upon (i) the occurrence and during the continuance of any Event of Default and (ii) the making of the request or the granting of the consent specified by Section 6.01 to authorize the Agent to declare the Advances due and payable pursuant to the provisions of Section 6.01, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by such Lender or such Affiliate to or for the credit or the account of any Borrower against any and all of the obligations of such Borrower now or hereafter existing under this Agreement and the Note held by such Lender, whether or not such Lender shall have made any demand under this Agreement or such Note and although such obligations may be unmatured, provided that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Agent for further application in accordance with the provisions of Section 2.19 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Agent a statement describing in reasonable detail the obligations owing to such Defaulting Lender as to which it exercised such right of setoff.  Each Lender agrees promptly to notify the Company after any such set-off and application, provided that the failure to give such notice shall not affect the validity of such set-off and application.  The rights of each Lender and its Affiliates under this Section are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender and its Affiliates may have.

 

Section 8.06     Binding Effect.

 

This Agreement shall become effective on the Effective Date and thereafter shall be binding upon and inure to the benefit of the Company, each Borrowing Subsidiary (if any), the Agent and each Lender and their respective successors and assigns, except that other than in accordance with Section 5.02(b), the

 

  

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Company shall not assign its rights and obligations hereunder or any interest herein without the prior written consent of all of the Lenders.

 

Section 8.07     Assignments and Participations.

 

(a)           Each Lender may, upon ten days’ notice to the Agent and with the prior consent of the Company (which consent shall not be unreasonably withheld or delayed) and, if demanded by the Company pursuant to Section 2.05 (b), 2.05(c) or 2.06(b) upon at least 20 Business Days’ notice to such Lender and the Agent, will assign to one or more Persons all or a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitment, the Revolving Credit Advances owing to it and the Revolving Credit Note or Notes held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all rights and obligations under this Agreement, (ii) except in the case of an assignment to a Person that, immediately prior to such assignment, was a Lender or an affiliate of a Lender, or an assignment of all of a Lender’s rights and obligations under this Agreement, the amount of the Commitment of the assigning Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Assumption with respect to such assignment) shall in no event be less than $10,000,000, (iii) each such assignment shall be to an Eligible Assignee, (iv) each such assignment made as a result of a demand by the Company pursuant to this Section 8.07(a) shall be arranged by the Company after consultation with the Agent and shall be either an assignment of all of the rights and obligations of the assigning Lender under this Agreement or an assignment of a portion of such rights and obligations made concurrently with another such assignment or other such assignments that together cover all of the rights and obligations of the assigning Lender under this Agreement, (v) no Lender shall be obligated to make any such assignment as a result of a demand by the Company pursuant to this Section 8.07(a) unless and until such Lender shall have received one or more payments from either the Company or one or more Eligible Assignees in an aggregate amount at least equal to the aggregate outstanding principal amount of the Advances owing to such Lender, together with accrued interest thereon to the date of payment of such principal amount and all other amounts payable to such Lender under this Agreement, (vi) the parties to each such assignment shall execute and deliver to the Agent, for its acceptance and recording in the Register (as defined in clause (d) below), an Assignment and Assumption, together with any Revolving Credit Note requested pursuant to Section 2.13(e) subject to such assignment and a processing and recordation fee of $3,500, and (vii) the Eligible Assignee shall complete, execute and deliver to the Borrowers and Agent the appropriate tax form pursuant to Section 2.14.  Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Assumption and upon compliance with clause (vii) of the previous sentence, (x) the assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Assumption, have the rights and obligations of a Lender hereunder and (y) the Lender assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Assumption, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all or the remaining portion of an assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto); provided that an assigning Lender’s rights to indemnification and reimbursement pursuant to Section 8.04 and its rights and obligations under Sections 2.11 and 2.14 shall survive assignment hereunder.

 

Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special purpose vehicle (an “SPV”) of such Granting Lender, identified as such in writing from time to time by the Granting Lender to the Agent and the Company, the

 

  

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option to provide to the Borrowers all or any part of any Advance that such Granting Lender would otherwise be obligated to make to the Borrowers pursuant to Section 2.01, provided that (i) nothing herein shall constitute a commitment by any SPV to make any Advance, (ii) if an SPV elects not to exercise such option or otherwise fails to provide all or any part of such Advance, the Granting Lender shall be obligated to make such Advance pursuant to the terms hereof and (iii) the Borrowers may bring any proceeding against either the Granting Lender or the SPV in order to enforce any rights of the Borrowers hereunder.  The making of an Advance by an SPV hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Advance were made by the Granting Lender.  Each party hereto hereby agrees that no SPV shall be liable for any payment under this Agreement for which a Lender would otherwise be liable, for so long as, and to the extent, the related Granting Lender makes such payment.  In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior indebtedness of any SPV, it will not institute against, or join any other person in instituting against, such SPV any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or similar proceedings under the laws of the United States or any State thereof arising out of any claim against such SPV under this Agreement.  In addition, notwithstanding anything to the contrary contained in this Section, any SPV may with notice to, but without the prior written consent of, the Company or the Agent and without paying any processing fee therefor, assign all or a portion of its interests in any Advances to its Granting Lender or to any financial institutions (consented to by the Company and the Agent) providing liquidity and/or credit support (if any) with respect to commercial paper issued by such SPV to fund such Advances and such SPV may disclose, on a confidential basis, confidential information with respect to the Company and its Subsidiaries to any rating agency, commercial paper dealer or provider of a surety, guarantee or credit liquidity enhancement to such SPV.  This paragraph may not be amended without the consent of any SPV at the time holding Advances under this Agreement.

 

(b)           By executing and delivering an Assignment and Assumption, the Lender assignor thereunder and the assignee thereunder confirm to and agree with each other and the other parties hereto as follows:  (i) other than as provided in such Assignment and Assumption, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of, or the perfection or priority of any lien or security interest created or purported to be created under or in connection with, this Agreement or any other instrument or document furnished pursuant hereto; (ii) such assigning Lender makes no representation or warranty and assumes no responsibility with respect to the financial condition of any Borrower or the performance or observance by any Borrower of any of its obligations under this Agreement or any other instrument or document furnished pursuant hereto; (iii) such assignee confirms that it has received a copy of this Agreement, together with copies of the financial statements referred to in Section 4.01 and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such Assignment and Assumption; (iv) such assignee will, independently and without reliance upon the Agent, such assigning Lender or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement; (v) such assignee confirms that it is an Eligible Assignee; (vi) such assignee appoints and authorizes the Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance with their terms all of the obligations that by the terms of this Agreement are

 

  

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required to be performed by it as a Lender.

 

(c)           Upon its receipt of an Assignment and Assumption executed by an assigning Lender and an assignee representing that it is an Eligible Assignee, together with any Revolving Credit Note or Notes subject to such assignment, the Agent shall, if such Assignment and Assumption has been completed and is in substantially the form of Exhibit C hereto, (i) accept such Assignment and Assumption, (ii) record the information contained therein in the Register and (iii) give prompt notice thereof to the Company.  The relevant Borrower, at its own expense, shall if so requested pursuant to Section 2.13(e) execute and deliver to the Agent in exchange for the surrendered Revolving Credit Note a new Revolving Credit Note to the order of such Eligible Assignee in an amount equal to the Commitment assumed by it pursuant to such Assignment and Assumption and, if the assigning Lender has retained a Commitment hereunder, a new Revolving Credit Note to the order of the assigning Lender in an amount equal to the Commitment retained by it hereunder.  Such new Revolving Credit Note or Notes shall be in an aggregate principal amount equal to the aggregate principal amount of such surrendered Revolving Credit Note or Notes, shall be dated the effective date of such Assignment and Assumption and shall otherwise be in substantially the form of Exhibit A hereto.

 

(d)           The Agent acting solely for this purpose as an agent of the relevant Borrower shall maintain at its address referred to in Section 8.02 if such address is within the United States and, if not, at one of its offices located within the United States a copy of each Assignment and Assumption delivered to and accepted by it and a register for the recordation of the names and addresses of the Lenders and, with respect to Lenders, the Commitment of, and principal amount of the Advances owing to, each Lender from time to time (the “Register”).  The entries in the Register shall be conclusive and binding for all purposes, absent manifest error, and each Borrower, the Agent and the Lenders may treat each Person whose name is recorded in the Register as a Lender hereunder for all purposes of this Agreement.  The Register shall be available for inspection by the Company or any Lender, as to its Commitment, at any reasonable time and from time to time upon reasonable prior notice.

 

(e)           Each Lender may, with the prior consent of the Company (which consent shall not be unreasonably withheld or delayed), upon notice to the Agent, sell participations to one or more banks or other entities in or to all or a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitment, the Advances owing to it and the Note or Notes held by it); provided, however, that (i) such Lender’s obligations under this Agreement (including, without limitation, its Commitment hereunder) shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, (iii) such Lender shall remain the holder of any such Note for all purposes of this Agreement, (iv) the Borrowers, the Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement and (v) no participant under any such participation shall have any right to approve any amendment or waiver of any provision of this Agreement or any Note, or any consent to any departure by any Borrower therefrom, except to the extent that such amendment, waiver or consent would reduce the principal of, or interest on, the Notes or any fees or other amounts payable hereunder, in each case to the extent subject to such participation, postpone any date fixed for any payment of principal of, or interest on, the Notes or any fees or other amounts payable hereunder, in each case to the extent subject to such participation or release the Company from its obligations hereunder, including, without limitation, its obligations under Article IX.  Each Lender that sells a participation shall, acting solely for this purpose as an agent of the relevant Borrower, maintain a register at one of its offices located within the United States on which it enters the name and address of each participant and the Commitment of, and

 

  

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principal amount of the Advances owing to, each participant from time to time (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any participant or any information relating to a participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations.  The entries in the Participant Register shall be conclusive and binding, absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement.

 

(f)           Any Lender may, in connection with any assignment or participation or proposed assignment or participation pursuant to this Section 8.07, disclose to the assignee or participant or proposed assignee or participant any information relating to any Borrower furnished to such Lender by or on behalf of any Borrower; provided that, prior to any such disclosure, the assignee or participant or proposed assignee or participant shall agree to preserve the confidentiality of any Confidential Information relating to the Borrowers received by it from such Lender.

 

(g)           Notwithstanding any other provision set forth in this Agreement, any Lender may at any time create a security interest in all or any portion of its rights under this Agreement (including, without limitation, the Advances owing to it and the Note or Notes held by it) in favor of any Federal Reserve Bank in accordance with Regulation A of the Board of Governors of the Federal Reserve System.

 

Section 8.08     Confidentiality.

 

Neither the Agent nor any Lender shall disclose any Confidential Information to any Person without the consent of the Company, other than (a) to the Agent’s or such Lender’s Affiliates and their officers, directors, employees, agents and advisors and to actual or prospective assignees and participants, and then only on a confidential basis, (b) as required by any law, rule or regulation or judicial process, (c) to any rating agency when required by it, provided that, prior to any such disclosure, such rating agency shall undertake to preserve the confidentiality of any Confidential Information relating to the Borrowers received by it from such Lender, (d) as requested or required by any state, federal or foreign authority or examiner regulating banks or banking and (e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder.

 

In addition, the Agent may disclose to any agency or organization that assigns standard identification numbers to loan facilities such basic information describing the facilities provided hereunder as is necessary to assign unique identifiers (and, if requested, supply a copy of this Agreement), it being understood that the Person to whom such disclosure is made will be informed of the confidential nature of such information and instructed to make available to the public only such information as such person normally makes available in the course of its business of assigning identification numbers.

 

Section 8.09     Governing Law.

 

This Agreement and the other Loan Documents and any claims, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Agreement or any other Loan Document (except, as to any other Loan Document, as expressly set forth therein) and the transactions contemplated hereby and thereby shall be governed by, and construed in accordance with, the law of the State of New York.

 

  

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Section 8.10     Execution in Counterparts.

 

This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.  Delivery of an executed counterpart of a signature page to this Agreement by telecopier shall be effective as delivery of a manually executed counterpart of this Agreement.

 

Section 8.11     Jurisdiction, Etc.

 

(a)        Each of the parties hereto hereby irrevocably and unconditionally agrees that it will not commence any action, litigation or proceeding of any kind or description, whether in law or equity, whether in contract or in tort or otherwise, against the Agent, any Lender or any Related Party of the foregoing in any way relating to this Agreement or any other Loan Document or the transactions relating hereto or thereto, in any forum other than the courts 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, and each of the parties hereto irrevocably and unconditionally submits to the jurisdiction of such courts and agrees that all claims in respect of any such action, litigation 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, litigation 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 in any other Loan Document shall affect any right that any party hereto may otherwise have to bring any action or proceeding to enforce a judgment relating to this Agreement or any other Loan Document against any other party hereto or its properties in the courts of any jurisdiction.

 

(b)        Each of the parties hereto irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection that 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 paragraph (a) of this Section.  Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

 

(c)         Each party hereto irrevocably consents to service of process in the manner provided for notices in Section 8.02.  Nothing in this Agreement will affect the right of any party hereto to serve process in any other manner permitted by applicable law

 

Section 8.12       WAIVER OF JURY TRIAL.

 

EACH BORROWER, THE AGENT AND THE LENDERS HEREBY IRREVOCABLY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE NOTES OR THE ACTIONS OF THE AGENT OR ANY LENDER IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF.

 

Section 8.13       USA PATRIOT Act Notice.

 

Each Lender and the Agent (for itself and not on behalf of any Lender) hereby notifies the Company that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed

 

  

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into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies the Company, which information includes the name and address of the Company and other information that will allow such Lender or the Agent, as applicable, to identify the Company in accordance with the Act.

 

ARTICLE IX

 

GUARANTEE

 

Section 9.01     Guarantee.

 

The Company hereby unconditionally guarantees to each Lender and the Agent and their respective successors and assigns the prompt payment in full when due (whether at stated maturity, by acceleration, by optional prepayment or otherwise) of the principal of and interest on the Advances to and the Notes of (to the extent of the principal of and interest on Advances made to) each Borrowing Subsidiary and all other amounts whatsoever from time to time now or hereafter owing to the Lenders or the Agent or any of them by any Borrowing Subsidiary under this Agreement pursuant to such Borrowing Subsidiary’s Designation Letter, in each case strictly in accordance with the terms thereof (such obligations being herein collectively called the “Guaranteed Obligations”).  The Company hereby further agrees that if any Borrowing Subsidiary shall fail to pay in full when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) any of the Guaranteed Obligations, the Company will promptly pay the same, 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 9.02     Obligations Unconditional.

 

(a)       The obligations of the Company under this Article IX, and the obligations (if any) of the Company assumed pursuant to Section 2.17(b), are unconditional irrespective of (i) the value, genuineness, legality, validity, regularity or enforceability of any of the Guaranteed Obligations, (ii) any modification, amendment or variation in or addition to the terms of any of the Guaranteed Obligations or any covenants in respect thereof or any security therefor, (iii) any extension of time for performance or waiver of performance of any covenant of any Borrowing Subsidiary or any failure or omission to enforce any right with regard to any of the Guaranteed Obligations, (iv) any exchange, surrender, release of any other guaranty of or security for any of the Guaranteed Obligations, or (v) any other circumstance whatsoever which may or might constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent hereof that the obligations of the Company under this Article IX shall be absolute and unconditional under any and all circumstances.

 

(b)       The Company hereby expressly waives diligence, presentment, demand, protest and all notices whatsoever with regard to any of the Guaranteed Obligations and said obligations assumed under Section 2.17(b) and any requirement that the Agent or any Lender exhaust any right, power or remedy or proceed against any Borrowing Subsidiary or any other Person hereunder or under the Designation Letter of such Borrowing Subsidiary or under any Note of such Borrowing Subsidiary or any other guarantor of or any security for any of the Guaranteed Obligations.  The obligations of the Company under this Article IX constitute a guarantee of payment and not of collection.

 

  

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Section 9.03      Reinstatement.

 

The guarantee in this Article IX shall be automatically reinstated if and to the extent that for any reason any payment by or on behalf of any Borrowing Subsidiary in respect of the Guaranteed Obligations is rescinded or must be otherwise restored by any holder(s) of any of the Guaranteed Obligations, whether as a result of any proceedings in bankruptcy or reorganization or otherwise.

 

Section 9.04      Subrogation.

 

Until the termination of the Commitments and the payment in full of the principal of and interest on the Advances and all other amounts payable to the Agent or any Lender hereunder, the Company hereby irrevocably waives all rights of subrogation or contribution, whether arising by operation of law (including, without limitation, any such right arising under the Federal Bankruptcy Code) or otherwise, by reason of any payment by it pursuant to the provisions of this Article IX.

 

Section 9.05      Remedies.

 

The Company agrees that, as between the Company on the one hand and the Lenders and the Agent on the other hand, the obligations of any Borrowing Subsidiary guaranteed under this Agreement may be declared to be forthwith due and payable, or may be deemed automatically to have been accelerated, as provided in Article VI, for purposes of Section 9.01 hereof notwithstanding any stay, injunction or other prohibition (whether in a bankruptcy proceeding affecting such Borrowing Subsidiary or otherwise) preventing such declaration as against such Borrowing Subsidiary and that, in the event of such declaration or automatic acceleration such obligations (whether or not due and payable by such Borrowing Subsidiary) shall forthwith become due and payable by the Company for purposes of said Section 9.01.

 

Section 9.06      Continuing Guarantee.

 

The guarantee in this Article IX is a continuing guarantee and shall apply to all Guaranteed Obligations whenever arising.

 

 

[Remainder of Page Intentionally Left Blank]

 

 

 

  

  

  

 

IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Credit Agreement to be duly executed and delivered as of the date first above written.

 

	  	
PEPSICO, INC.

	  
	  	  	  	  
	  	  	  	  
	  	
By:

	
 /s/ Maria Teresa Hilado

	  
	  	
Name:

	
Maria Teresa Hilado

	  
	  	
Title:

	
Senior Vice President, Finance and Treasurer

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	
By:

	
 /s/ Kimberly S. Rector

	  
	  	
Name:

	
Kimberly S. Rector

	  
	  	
Title:

	
Vice President and Assistant Treasurer

	  

  

  

  

 

 

 

	
CITIBANK, N.A.

as Agent

	 
	 	 	 	 
	By:	/s/ Shannon Sweeney	 
	 	Name: 	Shannon Sweeney	 
	 	Title: 	Vice President	 

 

 

	
Initial Lenders

	 
	 	 
	

CITIBANK, N.A.

	 
	 	 	 	 
	By:	/s/ Shannon Sweeney	 
	 	Name: 	Shannon Sweeney	 
	 	Title: 	Vice President	 

 

 

	

JPMORGAN CHASE BANK, N.A.

	 
	 	 	 	 
	By:	/s/ Tony Yung	 
	 	Name: 	Tony Yung	 
	 	Title: 	Executive Director	 

 

 

	

BANK OF AMERICA, N.A.

	 
	 	 	 	 
	By:	/s/ David L. Catherall	 
	 	Name: 	David L. Catherall	 
	 	Title: 	Director	 

 

 

	

MORGAN STANLEY BANK, N.A.

	 
	 	 	 	 
	By:	/s/ Sherrese Clarke	 
	 	Name: 	Sherrese Clarke	 
	 	Title: 	Authorized Signatory	 

 

 

	

HSBC BANK USA, N.A.

	 
	 	 	 	 
	By:	/s/ Thomas A. Foley	 
	 	Name: 	Thomas A. Foley	 
	 	Title: 	 Managing Director	 

 

 

  

  

  

 

 

	

UBS LOAN FINANCE LLC

	 
	 	 	 	 
	By:	/s/ Irja R. Otsa	 
	 	Name: 	Irja R. Otsa	 
	 	Title: 	Associate Director	 

 

	By:	/s/ April Varner-Nanton	 
	 	Name: 	April Varner-Nanton	 
	 	Title: 	Director	 

 

 

	

BNP PARIBAS

	 
	 	 	 	 
	By:	/s/ Simone Vinocour	 
	 	Name: 	Simone Vinocour	 
	 	Title: 	Managing Director	 

 

	By:	/s/ Berangere Allen	 
	 	Name: 	Berangere Allen	 
	 	Title: 	Director	 

 

 

	

THE ROYAL BANK OF SCOTLAND PLC

	 
	 	 	 	 
	By:	/s/ Michaela V. Galluzzo	 
	 	Name: 	Michaela V. Galluzzo	 
	 	Title: 	Director	 

 

 

	

DEUTSCHE BANK AG NEW YORK BRANCH.

	 
	 	 	 	 
	By:	/s/ Frederick W. Laird	 
	 	Name: 	Frederick W. Laird	 
	 	Title: 	Managing Director	 

 

	By:	/s/ Heidi Sandquist	 
	 	Name: 	Heidi Sandquist	 
	 	Title: 	Director	 

 

 

  

  

  

 

 

	

BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

	 
	 	 	 	 
	By:	
/s/ Adriana Alaix

	 
	 	Name: 	
Adriana Alaix

	 
	 	Title: 	
Banker – Corporate Clients US

	 

 

	By:	
/s/ Matias Cruces

	 
	 	Name: 	
Matias Cruces

	 
	 	Title: 	
Sr Banker – Corporate Clients US

	 

 

 

	

GOLDMAN SACHS BANK USA

	 
	 	 	 	 
	By:	
/s/ Mark Walton

	 
	 	Name: 	
Mark Walton

	 
	 	Title: 	
Authorized Signatory

	 

 

 

	

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

	 
	 	 	 	 
	By:	
/s/ John W. Wade

	 
	 	Name: 	
John W. Wade

	 
	 	Title: 	
Deputy General Manager

Head of Operations and Infrastructure

 

 

	

MIZUHO CORPORATE BANK (USA)

	 
	 	 	 	 
	By:	
/s/ Robert Gallagher

	 
	 	Name: 	
Robert Gallagher

	 
	 	Title: 	
Senior Vice President

	 

 

 

	

TORONTO DOMINION (NEW YORK) LLC

	 
	 	 	 	 
	By:	
/s/ Bebi Yasin

	 
	 	Name: 	
Bebi Yasin

	 
	 	Title: 	
Authorized Signatory

	 

 

 

	

THE BANK OF NEW YORK MELLON

	 
	 	 	 	 
	By:	
/s/ Donald G. Cassidy, Jr.

	 
	 	Name: 	
Donald G. Cassidy, Jr.

	 
	 	Title: 	
Managing Director

	 

 

 

  

  

  

 

 

 

	

U.S. BANK, NATIONAL ASSOCIATION

	 
	 	 	 	 
	By:	
/s/ Steven L. Sawyer

	 
	 	Name: 	
Steven L. Sawyer

	 
	 	Title: 	
Vice President

	 

 

 

	

PNC BANK, NATIONAL ASSOCIATION

	 
	 	 	 	 
	By:	
/s/ Michael A. Richards

	 
	 	Name: 	
Michael A. Richards

	 
	 	Title: 	
Senior Vice President

	 

 

 

	

THE NORTHERN TRUST COMPANY

	 
	 	 	 	 
	By:	
/s/ Peter J. Hallan

	 
	 	Name: 	
Peter J. Hallan

	 
	 	Title: 	

Vice President

 

 

	

SOCIETE GENERALE

	 
	 	 	 	 
	By:	
/s/ Eric Siebert

	 
	 	Name: 	
Eric Siebert

	 
	 	Title: 	
Managing Director

	 

 

 

	

BARCLAYS BANK PLC

	 
	 	 	 	 
	By:	

/s/ Michael Mozer

	 
	 	Name: 	
Michael Mozer

	 
	 	Title: 	
Vice President

	 

 

 

 

 

 

 

Schedule I

Commitments

	
Lender

	
Commitment

	  	  
	
Citibank, N.A.

	
$325,000,000

	
JPMorgan Chase Bank, N.A.

	
$325,000,000

	
Bank of America, N.A.

	
$325,000,000

	
Morgan Stanley Bank, N.A.

	
$200,000,000

	
HSBC Bank USA, N.A.

	
$200,000,000

	
UBS Loan Finance LLC

	
$200,000,000

	
BNP Paribas

	
$200,000,000

	
The Royal Bank of Scotland plc

	
$200,000,000

	
Deutsche Bank AG New York Branch

	
$150,000,000

	
Banco Bilbao Vizcaya Argentaria, S.A.

	
$150,000,000

	
Goldman Sachs Bank USA

	
$150,000,000

	
Australia and New Zealand Banking Group Limited

	
$50,000,000

	
Mizuho Corporate Bank (USA)

	
$50,000,000

	
Toronto Dominion (New York) LLC

	
$50,000,000

	
The Bank of New York Mellon

	
$50,000,000

	
U.S. Bank, National Association

	
$50,000,000

	
PNC Bank National Association

	
$50,000,000

	
The Northern Trust Company

	
$50,000,000

	
Societe Generale

	
$50,000,000

	
Barclays Bank PLC

	
$50,000,000

	
Total:

	
$2,875,000,000

  

  

  

Schedule II

Agent’s Address

Citibank, N.A.

1615 Brett Road, Building #3

New Castle, Delaware  19720

Attention:   Bank Loan Syndications

Telecopier No.:  (212) 994-0961

Telephone No    (302) 894-6065

  

  

  

Exhibit A to

Credit Agreement

FORM OF REVOLVING CREDIT NOTE

Dated: __________, 201_

FOR VALUE RECEIVED, the undersigned, PEPSICO, INC., a North Carolina corporation (the “Borrower”), HEREBY PROMISES TO PAY to the order of _____________________ (the “Lender”) for the account of its Applicable Lending Office on the Termination Date (each as defined in the Credit Agreement referred to below) the principal amount of the Revolving Credit Advances made by the Lender to the Borrower pursuant to the Four-Year Credit Agreement dated as of June 14, 2011 among the Borrower, the Lender and certain other lenders parties thereto, and Citibank, N.A., as Agent for the Lender and such other lenders (as amended or modified from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined) outstanding on the Termination Date.

The Borrower promises to pay interest on the unpaid principal amount of each Revolving Credit Advance from the date of such Revolving Credit Advance until such principal amount is paid in full, at such interest rates, and payable at such times, as are specified in the Credit Agreement.

Both principal and interest are payable in lawful money of the United States of America to Citibank, N.A., as Agent, at the Agent’s Account, in same day funds for the account of the Lender.  Each Revolving Credit Advance owing to the Lender by the Borrower pursuant to the Credit Agreement, and all payments made on account of principal thereof, shall be recorded by the Lender and, prior to any transfer hereof, endorsed on the grid attached hereto which is part of this Promissory Note.  Each such endorsement shall constitute prima facie evidence of the accuracy of the information so endorsed.

This Promissory Note is one of the Revolving Credit Notes referred to in, and is entitled to the benefits of, the Credit Agreement.  The Credit Agreement, among other things, (i) provides for the making of Revolving Credit Advances by the Lender to the Borrower from time to time in an aggregate amount not to exceed at any time outstanding the U.S. dollar amount first above mentioned, the indebtedness of the Borrower resulting from each such Revolving Credit Advance being evidenced by this Promissory Note, and (ii) contains provisions for acceleration of the maturity hereof upon the happening of certain stated events and also for prepayments on account of principal hereof prior to the maturity hereof upon the terms and conditions therein specified.

The Borrower hereby waives presentment, demand, protest and notice of any kind.  No failure to exercise, and no delay in exercising, any rights hereunder on the part of the holder hereof shall operate as a waiver of such rights.

  

  

  

This Promissory Note shall be governed by, and construed in accordance with the laws of the State of New York.

	  	
PEPSICO, INC.

	  
	  	  	  	  
	  	  	  	  
	  	
By:

	  	  
	  	
Name:

	  	  
	  	
Title:

	  	  
	  	  	  	  
	  	
By:

	  	  
	  	
Name:

	  	  
	  	
Title:

	  	  

  

  

  

ADVANCES AND PAYMENTS OF PRINCIPAL

	
 

 

Date

	
 

Amount of

Advance

	
Amount of

Principal Paid

Or Prepaid

	
 

Unpaid Principal

Balance

	
 

Notation

Made By

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  

  

  

  

Exhibit B to

Credit Agreement

FORM OF NOTICE OF REVOLVING CREDIT BORROWING

Citibank, N.A., as Agent

for the Lenders parties

to the Credit Agreement

referred to below

_________________________

_________________________                                                                [Date]

Attention: _______________

Ladies and Gentlemen:

The undersigned, PepsiCo, Inc. (the “Company”), refers to the Four-Year Credit Agreement, dated as of June 14, 2011 (as amended or modified from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined), among the undersigned, certain Lenders parties thereto and Citibank, N.A., as Agent for said Lenders, and hereby gives you notice, irrevocably, pursuant to Section 2.02 of the Credit Agreement that the undersigned hereby requests a Revolving Credit Borrowing under the Credit Agreement, and in that connection sets forth below the information relating to such Revolving Credit Borrowing (the “Proposed Revolving Credit Borrowing”) as required by Section 2.02(a) of the Credit Agreement:

(i)           The Business Day of the Proposed Revolving Credit Borrowing is ______, ____.

(ii)           The Type of Advances constituting the Proposed Revolving Credit Borrowing is [Base Rate Advances] [Eurodollar Rate Advances].

(iii)           The aggregate amount of the Proposed Revolving Credit Borrowing is $________.

(iv)           The identity of the Borrower for the Proposed Revolving Credit Borrowing is ______________, a ______________ corporation.

[(v)           The initial Interest Period for each Eurodollar Rate Advance made as part of the Proposed Revolving Credit Borrowing is ____ month[s].]

The undersigned hereby certifies that the following statements are true on the date hereof, and will be true on the date of the Proposed Revolving Credit Borrowing:

(a)           the representations and warranties contained in Section 4.01 of the Credit Agreement (except the representations set forth in the last sentence of subsection (e) thereof and in subsection (f) thereof (other than clause (ii) thereof)) are correct, before and after giving effect 

 

  

  

  

 

to the Proposed Revolving Credit Borrowing and to the application of the proceeds therefrom, as though made on and as of such date;

(b)           no event has occurred and is continuing, or would result from such Proposed Revolving Credit Borrowing or from the application of the proceeds therefrom, that constitutes a Default; and

(c)           the aggregate amount of the Proposed Revolving Credit Borrowing and all other Borrowings to be made on the same day under the Credit Agreement is within the aggregate amount of the unused Commitments of the Lenders.

	  	
Very truly yours,

 

PEPSICO, INC.

	  
	  	  	  	  
	  	  	  	  
	  	
By:

	  	  
	  	
Name:

	  	  
	  	
Title:

	  	  
	  	  	  	  
	  	
By:

	  	  
	  	
Name:

	  	  
	  	
Title:

	  	  

  

  

  

Exhibit C to

Credit Agreement

FORM OF ASSIGNMENT AND ASSUMPTION

 

This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”).  Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee.  The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full.

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Agent as contemplated below (i) all of the Assignor’s rights and obligations as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor under the respective facilities identified below and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as, the “Assigned Interest”).  Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor.

	
1.

	
Assignor:

	
______________________________

	  	  	  
	
2.

	
Assignee:

	
______________________________ [and is an Affiliate/ of [identify Lender]

	  	  	  
	
3.

	
Company:

	
PepsiCo, Inc.

	  	  	  
	
4.

	
Agent: Citibank, N.A., as the administrative agent under the Credit Agreement.

	  	  	  

	
5.

	
Credit Agreement:

	
Four-Year Credit Agreement, dated as of June 14, 2011, among PepsiCo, Inc. (the “Company”), the Lenders party thereto and Citibank, N.A., as Agent.

 

 

  

  

  

 

6.           Assigned Interest:

	
Facility Assigned

	
Aggregate

Amount of

Commitment/

Advances

for all Lenders*

	
Amount of

Commitment/

Advances

Assigned*

	
Percentage

Assigned of

Commitment/

Advances1

	  	  	  	  
	
Revolving Credit

	
$________________

	
$________________

	
______________%

 

 [7.           Trade Date:                      __________________]2

 

Effective Date: __________________, 20__ [TO BE INSERTED BY AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

 

The terms set forth in this Assignment and Assumption are hereby agreed to:

	
ASSIGNOR

	  
	
[NAME OF ASSIGNOR]

	  
	  	  	  
	
By:

	
 

	  
	  	
Title:

	  
	  	  	  
	
ASSIGNEE

	  
	
[NAME OF ASSIGNEE]

	  
	  	  	  
	
By:

	
 

	  
	  	
Title:

	  

*Amount to be adjusted to take into account any payments or prepayments made between the Trade Date and the Effective Date.

1 Set forth, to at least 9 decimals, as a percentage of the Commitment/Advances of all Lenders thereunder.  

2 To be completed if the Assignor and the Assignee intend that the minimum assignment amount is to be determined as of the Trade Date.

 

  

  

  

Consented to and Accepted:

	
CITIBANK, N.A., as

  Administrative Agent

	  	  
	
By:

	
 

	 	
Title:

	  	  
	
Consented to:

	  	  
	
PEPSICO, INC.

 

	By:	  
	 	
Title:

 

  

  

  

ANNEX 1 TO ASSIGNMENT AND ASSUMPTION

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

1.           Representations and Warranties.

1.1.         Assignor.  The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Company, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Company, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document.

1.2.         Assignee.  The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all requirements of an Eligible Assignee under the Credit Agreement (subject to receipt of such consents as may be required under the Credit Agreement), (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered or deemed delivered pursuant to Section 5.01(d) thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Agent or any other Lender, and (v) if it is a Lender that is not a “United States person” within the meaning of Section 7701(a)(30) of the Internal Revenue Code (a “Foreign Lender”), attached hereto is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on the Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender.

2.         Payments.  From and after the Effective Date, the Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignee whether such amounts have accrued prior to or on or after the 

 

  

  

  

 

Effective Date.  The Assignor and the Assignee shall make all appropriate adjustments in payments by the Agent for periods prior to the Effective Date or with respect to the making of this assignment directly between themselves.

3.         General Provisions.  This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns.  This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument.  Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption.  This Assignment and Assumption shall be governed by, and construed in accordance with, the laws of the State of New York.

  

  

  

Exhibit D to

Credit Agreement

FORM OF DESIGNATION LETTER

__________, 20__

To Citibank, N.A.,

  as Agent

Attention:

Ladies and Gentlemen:

We make reference to the Four-Year Credit Agreement (as amended or modified from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined) dated as of June 14, 2011 among PepsiCo, Inc., (the “Company”), Citibank, N.A., as Agent (the “Agent”), and the banks party thereto (the “Initial Lenders”).

The Company hereby designates [_______________] (the “Borrowing Subsidiary”), a Subsidiary of the Company and a corporation duly incorporated under the laws of [_______________], as a Borrower in accordance with Section 2.17 of the Credit Agreement until such designation is terminated in accordance with said Section 2.17.

The Borrowing Subsidiary hereby accepts the above designation and hereby expressly and unconditionally accepts the obligations of a Borrower under the Credit Agreement, adheres to the Credit Agreement and agrees and confirms that, upon your execution and return to the Company of the enclosed copy of this letter, such Borrowing Subsidiary shall be a Borrower for purposes of the Credit Agreement and agrees to be bound by and perform and comply with the terms and provisions of the Credit Agreement applicable to it as if it had originally executed the Credit Agreement as a Borrower.  The Borrowing Subsidiary hereby authorizes and empowers the Company to act as its representative and attorney-in-fact for the purposes of signing documents and giving and receiving notices (including notices of Borrowing under the Credit Agreement) and other communications in connection with the Credit Agreement and the transactions contemplated thereby and for the purposes of modifying or amending any provision of the Credit Agreement and further agrees that the Agent and each Lender may conclusively rely on the foregoing authorization.

The Company hereby represents and warrants to the Agent and each Lender that, before and after giving effect to this Designation Letter, (i) the representations and warranties set forth in Section 4.01 of the Credit Agreement (except the representations set forth in the last sentence of subsection (e) thereof and in subsection (f) thereof (other than clause (ii) thereof)) are true and correct on the Effective Date as if made on and as of the date hereof and (ii) no Default has occurred and is continuing.  The Borrowing Subsidiary represents and warrants that each of the representations and warranties set forth in Section 4.01(a) (as if the reference therein to North 

 

  

  

  

 

Carolina were a reference to its jurisdiction of organization), (b), (c) and (d) of the Credit Agreement are true as if each reference therein to the Company were a reference to the Borrowing Subsidiary and as if each reference therein to the Loan Documents were a reference to this Designation Letter and the Note, if any, executed by the Borrowing Subsidiary in connection herewith.

The Borrowing Subsidiary is hereby aware that this Designation Letter, the Credit Agreement and the Notes, if any, shall be governed by, and construed in accordance with, the laws of the State of New York.  The Borrowing Subsidiary hereby submits to the nonexclusive jurisdiction of the United States District Court for the Southern District of New York and of any New York state court sitting in New York City for the purposes of all legal proceedings arising out of or relating to this Designation Letter, the Credit Agreement or the transactions contemplated thereby.  The Borrowing Subsidiary irrevocably waives, to the fullest extent permitted by law, any objection which it may now or hereafter have to the laying of the venue of any such proceeding brought in such a court and any claim that any such proceeding brought in such a court has been brought in an inconvenient forum.  The Borrowing Subsidiary further agrees that service of process in any such action or proceeding brought in New York may be made upon it by service upon the Borrower at the “Address for Notices” specified below its name on the signature page to this Designation Letter.

Without limiting the foregoing, the Borrowing Subsidiary joins in the submission, agreements, waivers and consents in Section 8.11 and 8.12 of the Credit Agreement.

	
PEPSICO, INC.

	  
	  	  	  
	
By

	  	  
	
Name:

	  	  
	
Title:

	  	  
	  	  	  
	
PEPSICO, INC.

	  
	  	  	  
	
By

	  	  
	
Name:

	  	  
	
Title:

	  	  
	  	  	  
	
[NAME OF BORROWING SUBSIDIARY]

	  
	  	  	  
	
By

	  	  
	
Name:

	  	  
	
Title:

	  	  
	 	 	 
	 	
 

 

 

Address for Notices:

	 

 

ACCEPTED

CITIBANK, N.A.,

  as Agent

 

	
By

	
 

	 	
Title:

 

  

  

  

 

Exhibit E to

Credit Agreement

FORM OF TERMINATION LETTER

To Citibank, N.A.,

  as Agent

Attention:

Ladies and Gentlemen:

We make reference to the Four-Year Credit Agreement (as amended or modified from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined) dated as of June 14, 2011 by and among PepsiCo, Inc. (the “Company”), Citibank, N.A., as Agent, and the banks party thereto.

The Company hereby terminates the status as a Borrowing Subsidiary of [______________], a corporation incorporated under the laws of [_______________], in accordance with Section 2.17 of the Credit Agreement, effective as of the date of receipt of this notice by the Agent.  The undersigned hereby represents and warrants that all principal of and interest on any Advance of the above-referenced Borrowing Subsidiary and all other amounts payable by such Borrowing Subsidiary pursuant to the Credit Agreement have been paid in full on or prior to the date hereof.  Notwithstanding the foregoing, this Termination Letter shall not affect any obligation which by the terms of the Credit Agreement survives termination thereof.

	  	
PEPSICO, INC.

	  
	  	  	  	  
	  	  	  	  
	  	
By:

	  	  
	  	
Name:

	  	  
	  	
Title:exv10w1

Exhibit 10.1

EXECUTION VERSION

 
 

THIRD AMENDED AND RESTATED CREDIT AGREEMENT

dated as of June 13, 2011

Among

COMPLETE PRODUCTION SERVICES, INC.

as US Borrower,

CERTAIN DESIGNATED SUBSIDIARY OF US BORROWER

as Canadian Borrower,

WELLS FARGO BANK, NATIONAL ASSOCIATION

as US Administrative Agent, US Issuing Lender and US Swingline Lender,

CERTAIN DESIGNATED FINANCIAL INSTITUTION SERVING

as Canadian Administrative Agent, Canadian Issuing Lender and Canadian Swingline Lender,

and

THE LENDERS PARTY HERETO FROM TIME TO TIME

as Lenders

$300,000,000

 
 

WELLS FARGO SECURITIES, LLC

as Lead Arranger and Sole Bookrunner

BANK OF AMERICA, N.A., COMERICA BANK,

and JPMORGAN CHASE BANK, N.A.

as Co-Documentation Agents

 

 

Table of Contents

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I DEFINITIONS AND ACCOUNTING TERMS
	 	 	2	 
	Section 1.1 Certain Defined Terms
	 	 	2	 
	Section 1.2 Computation of Time Periods
	 	 	31	 
	Section 1.3 Accounting Terms; Changes in GAAP
	 	 	31	 
	Section 1.4 Classes and Types of Advances
	 	 	32	 
	Section 1.5 Other Interpretive Provisions
	 	 	32	 
	Section 1.6 Exchange Rates; Currency Equivalents
	 	 	33	 
	Section 1.7 Agreed Currencies
	 	 	33	 
	Section 1.8 Change of Currency
	 	 	34	 
	Section 1.9 Several Obligations of Borrowers
	 	 	35	 
	 
	ARTICLE II CREDIT FACILITIES
	 	 	35	 
	Section 2.1 Commitments
	 	 	35	 
	Section 2.2 Evidence of Indebtedness
	 	 	38	 
	Section 2.3 Letters of Credit
	 	 	38	 
	Section 2.4 Swingline Advances
	 	 	46	 
	Section 2.5 Bankers’ Acceptances
	 	 	50	 
	Section 2.6 Borrowings; Procedures and Limitations
	 	 	52	 
	Section 2.7 Prepayments; Defeasance
	 	 	58	 
	Section 2.8 Repayment
	 	 	60	 
	Section 2.9 Fees
	 	 	60	 
	Section 2.10 Interest
	 	 	62	 
	Section 2.11 Illegality
	 	 	64	 
	Section 2.12 Breakage Costs
	 	 	64	 
	Section 2.13 Increased Costs
	 	 	65	 
	Section 2.14 Payments and Computations
	 	 	66	 
	Section 2.15 Taxes
	 	 	69	 
	Section 2.16 Replacement of Lenders
	 	 	71	 
	Section 2.17 Designation of a Canadian Borrower
	 	 	73	 
	Section 2.18 Defaulting Lender Provisions
	 	 	74	 
	 
	ARTICLE III CONDITIONS PRECEDENT
	 	 	77	 
	Section 3.1 Conditions Precedent to Effectiveness
	 	 	77	 
	Section 3.2 Conditions Precedent to Each Credit Extension
	 	 	79	 
	Section 3.3 Determinations Under Sections 3.1 and 3.2
	 	 	79	 
	 
	ARTICLE IV REPRESENTATIONS AND WARRANTIES
	 	 	79	 
	Section 4.1 Organization
	 	 	80	 
	Section 4.2 Authorization
	 	 	80	 
	Section 4.3 Enforceability
	 	 	80	 
	Section 4.4 Financial Condition
	 	 	80	 
	Section 4.5 Ownership and Liens; Real Property
	 	 	80	 
	Section 4.6 True and Complete Disclosure
	 	 	81	 
	Section 4.7 Litigation
	 	 	81	 
	Section 4.8 Compliance with Agreements
	 	 	81	 
	Section 4.9 Pension Plans
	 	 	81	 
	Section 4.10 Environmental Condition
	 	 	82	 
	Section 4.11 Subsidiaries
	 	 	82	 
	Section 4.12 Investment Company Act
	 	 	83	 
	Section 4.13 Reserved
	 	 	83	 

-i-

 

Table of Contents

(continued)

	 	 	 	 	 
	 	 	Page	 
	Section 4.14 Taxes
	 	 	83	 
	Section 4.15 Permits, Licenses, etc
	 	 	83	 
	Section 4.16 Use of Proceeds
	 	 	83	 
	Section 4.17 Condition of Property; Casualties
	 	 	83	 
	Section 4.18 Insurance
	 	 	83	 
	Section 4.19 Labor Agreements
	 	 	84	 
	Section 4.20 Security Interest
	 	 	84	 
	Section 4.21 OFAC; Anti-Terrorism
	 	 	84	 
	Section 4.22 Solvency
	 	 	84	 
	 
	ARTICLE V AFFIRMATIVE COVENANTS
	 	 	84	 
	Section 5.1 Organization
	 	 	84	 
	Section 5.2 Reporting
	 	 	84	 
	Section 5.3 Insurance
	 	 	87	 
	Section 5.4 Compliance with Laws
	 	 	87	 
	Section 5.5 Taxes
	 	 	88	 
	Section 5.6 Additional Guarantors
	 	 	88	 
	Section 5.7 Security
	 	 	88	 
	Section 5.8 Records; Inspection
	 	 	88	 
	Section 5.9 Maintenance of Property
	 	 	89	 
	Section 5.10 Landlord Agreements
	 	 	89	 
	Section 5.11 Designations with Respect to Subsidiaries
	 	 	89	 
	 
	ARTICLE VI NEGATIVE COVENANTS
	 	 	90	 
	Section 6.1 Debt
	 	 	90	 
	Section 6.2 Liens
	 	 	91	 
	Section 6.3 Investments
	 	 	92	 
	Section 6.4 Acquisitions
	 	 	93	 
	Section 6.5 Agreements Restricting Liens; Negative Pledge
	 	 	93	 
	Section 6.6 Use of Proceeds; Use of Letters of Credit
	 	 	94	 
	Section 6.7 Corporate Actions; Accounting Changes
	 	 	94	 
	Section 6.8 Sale of Assets
	 	 	94	 
	Section 6.9 Restricted Payments
	 	 	95	 
	Section 6.10 Affiliate Transactions
	 	 	95	 
	Section 6.11 Line of Business
	 	 	95	 
	Section 6.12 Hazardous Materials
	 	 	95	 
	Section 6.13 Compliance with ERISA
	 	 	96	 
	Section 6.14 Sale and Leaseback Transactions
	 	 	96	 
	Section 6.15 Non-Obligors/Unrestricted Entities
	 	 	96	 
	Section 6.16 Limitation on Hedging
	 	 	97	 
	Section 6.17 Capital Expenditures
	 	 	97	 
	Section 6.18 Landlord Agreements
	 	 	97	 
	Section 6.19 Amendment of Debt Terms
	 	 	97	 
	Section 6.20 Prepayment of Certain Debt
	 	 	98	 
	Section 6.21 Total Debt Leverage Ratio
	 	 	98	 
	Section 6.22 Senior Debt Leverage Ratio
	 	 	98	 
	Section 6.23 Consolidated Interest Coverage Ratio
	 	 	98	 
	 
	ARTICLE VII DEFAULT AND REMEDIES
	 	 	98	 
	Section 7.1 Events of Default
	 	 	98	 

ii

 

Table of Contents

(continued)

	 	 	 	 	 
	 	 	Page	 
	Section 7.2 Optional Acceleration of Maturity
	 	 	100	 
	Section 7.3 Automatic Acceleration of Maturity
	 	 	101	 
	Section 7.4 Set-off
	 	 	101	 
	Section 7.5 Remedies Cumulative, No Waiver
	 	 	102	 
	Section 7.6 Application of Payments
	 	 	102	 
	Section 7.7 Currency Conversion After Maturity
	 	 	104	 
	 
	ARTICLE VIII THE ADMINISTRATIVE AGENTS AND ISSUING LENDERS
	 	 	104	 
	Section 8.1 Appointment and Authority
	 	 	104	 
	Section 8.2 Rights as a Lender
	 	 	104	 
	Section 8.3 Exculpatory Provisions
	 	 	105	 
	Section 8.4 Reliance by Administrative Agent and Issuing Lenders
	 	 	106	 
	Section 8.5 Delegation of Duties
	 	 	106	 
	Section 8.6 Resignation of Administrative Agent or Issuing Lender
	 	 	106	 
	Section 8.7 Non-Reliance on Administrative Agent and Other Lenders
	 	 	107	 
	Section 8.8 No Other Duties, etc
	 	 	108	 
	Section 8.9 Collateral Matters
	 	 	108	 
	Section 8.10 Marshaling Rights of Lender Parties; Allocation of Losses
	 	 	109	 
	 
	ARTICLE IX MISCELLANEOUS
	 	 	109	 
	Section 9.1 Expenses; Indemnity; Damage Waiver
	 	 	109	 
	Section 9.2 Waivers and Amendments
	 	 	111	 
	Section 9.3 Severability
	 	 	112	 
	Section 9.4 Survival of Representations and Obligations
	 	 	112	 
	Section 9.5 Successors and Assigns Generally
	 	 	112	 
	Section 9.6 Lender Assignments and Participations
	 	 	113	 
	Section 9.7 Notices, Etc
	 	 	115	 
	Section 9.8 Confidentiality
	 	 	117	 
	Section 9.9 US Administrative Agent May File Proofs of Claim
	 	 	117	 
	Section 9.10 Usury Not Intended
	 	 	118	 
	Section 9.11 Usury Recapture
	 	 	119	 
	Section 9.12 Judgment Currency
	 	 	119	 
	Section 9.13 Payments Set Aside
	 	 	119	 
	Section 9.14 Governing Law; Submission to Jurisdiction
	 	 	120	 
	Section 9.15 Execution and Effectiveness
	 	 	120	 
	Section 9.16 Waiver of Jury
	 	 	121	 
	Section 9.17 USA PATRIOT ACT Notice
	 	 	121	 
	Section 9.18 Termination for Departing Lenders
	 	 	121	 
	Section 9.19 Integration
	 	 	122	 

EXHIBITS:

	 	 	 	 	 

	Exhibit A

	 	—
	 	Assignment and Assumption
	Exhibit B

	 	—
	 	Compliance Certificate
	Exhibit C

	 	—
	 	Notice of Borrowing (US Facility)
	Exhibit D

	 	—
	 	Notice of Conversion or Continuance (US Facility)
	Exhibit E

	 	—
	 	US Pledge Agreement
	Exhibit F

	 	—
	 	US Security Agreement
	Exhibit G

	 	—
	 	US Guaranty

iii

 

Table of Contents

(continued)

SCHEDULES:

	 	 	 	 	 

	Schedule I

	 	—
	 	Pricing Schedule
	Schedule II

	 	—
	 	Commitments
	Schedule III

	 	—
	 	Notice Information
	Schedule IV

	 	—
	 	Existing US Letters of Credit
	Schedule 4.1

	 	—
	 	Organizational Information
	Schedule 4.10

	 	—
	 	Environmental
	Schedule 4.11

	 	—
	 	Subsidiaries
	Schedule 4.19

	 	—
	 	Labor Agreements
	Schedule 5.11

	 	 	 	Requirements for New Restricted Subsidiaries
	Schedule 6.1

	 	—
	 	Existing Debt
	Schedule 6.2

	 	—
	 	Permitted Liens
	Schedule 6.3

	 	—
	 	Permitted Investments

iv

 

THIRD AMENDED AND RESTATED CREDIT AGREEMENT

          This THIRD AMENDED AND RESTATED CREDIT AGREEMENT dated as of June 13, 2011 (as it may be
further amended, supplemented, restated and otherwise modified from time to time, the
“Agreement”) is among (a) Complete Production Services, Inc., a Delaware corporation
(“US Borrower” or the “Company”), (b) that certain subsidiary of the Company, if
any, that is designated as a borrower under the Canadian Facility hereunder pursuant to Section
2.17 below (the “Canadian Borrower”; and together with the US Borrower, the
“Borrowers”), (c) the Lenders (as defined below), (d) Wells Fargo Bank, National
Association as US Swingline Lender (as defined below), US Issuing Lender (as defined below), and as
US Administrative Agent (as defined below) for the Lenders, and (e) from and after the Canadian
Facility Effective Date (as defined below), such financial institution appointed as Canadian
Swingline Lender (as defined below), Canadian Issuing Lender (as defined below), and as Canadian
Administrative Agent (as defined below) for the Lenders pursuant to Section 2.17 below.

RECITALS

          A. The US Borrower, Integrated Production Services, Ltd. as the Canadian borrower
(“Existing Canadian Borrower”; together with the US Borrower, the “Existing
Borrowers”), Wells Fargo Capital Finance, LLC (formerly known as Wells Fargo Foothill, LLC), as
existing US administrative agent, existing US swing line lender, and existing US issuing lender,
the Canadian Administrative Agent, the Canadian Issuing Lender, the Canadian Swingline Lender and
the lenders party thereto, including certain of the Lenders (the “Existing Lenders”) are
parties to that certain Second Amended and Restated Credit Agreement dated as of December 6, 2006,
as heretofore amended (as so amended, the “Restated Agreement”).

          B. Immediately prior hereto or concurrent herewith, Wells Fargo Capital Finance, LLC
(“Wells Fargo Capital Finance”) has assigned or will assign 100% of its rights and
obligations under the Restated Agreement and other Credit Documents (as defined in the Restated
Agreement) as a US Lender (as defined in the Restated Agreement) to its affiliate, Wells Fargo
Bank, National Association, and in connection therewith, Wells Fargo Capital Finance has resigned
as the US Administrative Agent, US Swingline Lender and US Issuing Lender (each as defined in the
Restated Agreement) and Wells Fargo Bank, National Association, pursuant to the terms hereof, is
appointed as the new US administrative agent, US issuing lender and US swingline lender.

          C. In connection with the entering into of this Agreement, (i) all Canadian Obligations
(as defined in the Restated Agreement) have been or, concurrently herewith will be, paid in full,
(ii) the Existing Canadian Borrower has been or, concurrently herewith will be, released from the
Restated Agreement, (iii) each Guarantor (as defined in the Restated Agreement) under the Canadian
Guaranty (as defined in the Restated Agreement) has been, or concurrently herewith, will be
released in full from its obligations thereunder, and (iv) each Canadian Security Document (as
defined in the Restated Agreement) has been, or concurrently herewith will be, terminated.

          D. The Borrowers, the US Administrative Agent, the US Issuing Lender, the US Swingline
Lender, the Canadian Administrative Agent, the Canadian Issuing Lender, the Canadian Swingline
Lender and certain of the Existing Lenders together with the other Lenders desire to amend and
restate (but not extinguish) the Restated Agreement in its entirety as hereinafter set forth
through the execution of this Agreement.

          E. It is the intention of the parties hereto that this Agreement is an amendment and
restatement of the Restated Agreement, not a new or substitute credit agreement or novation of the
Restated Agreement.

 

 

          NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants
herein contained, the Borrowers, the US Administrative Agent, the US Issuing Lender, the US
Swingline Lender, the Canadian Administrative Agent, the Canadian Issuing Lender, the Canadian
Swingline Lender and the Lenders, (i) do hereby agree that the Restated Agreement is amended and
restated (but not substituted or extinguished) in its entirety as set forth herein, and (ii) do
hereby further agree as follows:

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

Section 1.1 Certain Defined Terms. As used in this Agreement, the defined terms set
forth in the recitals above shall have the meanings set forth above and the following terms shall
have the following meanings (unless otherwise indicated, such meanings to be equally applicable to
both the singular and plural forms of the terms defined):

“ABCA” means the Business Corporations Act (Alberta) as it may be amended from time to
time;

“Acceptable Security Interest” means a security interest which (a) exists in favor of the
Applicable Administrative Agent for its benefit and the ratable benefit of the applicable Secured
Parties, (b) is superior to all other security interests (other than the Permitted Liens and other
than as to Excluded Perfection Collateral), (c) secures the Secured Obligations or the Canadian
Obligations, as applicable, (d) is perfected other than as to Excluded Perfection Collateral, and
(e) enforceable against the Credit Party which created such security interest.

“Acceptance Fee” means a fee payable in Canadian Dollars by the Canadian Borrower to the
Canadian Administrative Agent for the account of the Canadian Lenders with respect to the
acceptance of a B/A or the making of a B/A Equivalent Advance on the date of such acceptance or
loan, calculated on the face amount of the B/A or the B/A Equivalent Advance at the rate per annum
applicable on such date as set forth in the row labeled “Eurocurrency/BA Margin” in Table 1 of
Schedule I on the basis of the number of days in the applicable Contract Period (including the date
of acceptance and excluding the date of maturity) and a year of 365 days (it being agreed that the
rate per annum applicable to any B/A Equivalent Advance is equivalent to the rate per annum
otherwise applicable to the discount relating to the Bankers’ Acceptance which has been replaced by
the making of such B/A Equivalent Advance pursuant to Section 2.5).

“Acquisition” means the purchase by any Restricted Entity of any business, including the
purchase of associated assets or operations or the Equity Interests of a Person, through merger,
consolidation or otherwise.

“Additional Lender” shall have the meaning assigned to such term in Section 2.1(f).

“Adjusted Base Rate” means, for any day, the fluctuating rate per annum of interest equal
to the greatest of (i) the Prime Rate in effect on such day, (ii) the Federal Funds Rate in effect
on such day plus 1/2 of 1.00% and (iii) the Daily One-Month LIBOR plus 1.00%.

“Administrative Agents” means the US Administrative Agent and, from and after the Canadian
Facility Effective Date, the Canadian Administrative Agent.

“Administrative Agent’s Office” means, with respect to any currency, the Applicable
Administrative Agent’s address and, as appropriate, account as set forth on Schedule III, or such
other address or account

-2-

 

with respect to such currency as the Applicable Administrative Agent may from time to time notify
to the Applicable Borrower and the US Lenders or Canadian Lenders, as applicable.

“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by
the Applicable Administrative Agent.

“Advance” means (a) a US Advance, (b) a Canadian Advance, (c) a US Swingline Advance, or
(d) a Canadian Swingline Advance.

“Affiliate” means, 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.

“Agreed Currency” means, subject to Section 1.7 and Section 1.8, (a) Dollars and (b) any
other Eligible Currency approved in accordance with Section 1.7.

“Applicable Administrative Agent” means (a) the US Administrative Agent, with respect to
the US Facility, US Security Documents, or US Collateral, and (b) from and after the Canadian
Facility Effective Date, the Canadian Administrative Agent, with respect to the Canadian Facility,
Canadian Security Documents, or the Canadian Collateral.

“Applicable Borrower” means (a) the US Borrower, with respect to the US Facility, and (b)
the Canadian Borrower, with respect to the Canadian Facility.

“Applicable Issuing Lender” means (a) the US Issuing Lender, with respect to US Letters of
Credit, and (b) from and after the Canadian Facility Effective Date, Canadian Issuing Lender, with
respect to the Canadian Letters of Credit.

“Applicable Margin” means, at any time, with respect to each Type of Advance, the Letters
of Credit and the Commitment Fees, the percentage rate per annum which is applicable at such time
with respect to such Advance, Letter of Credit or Commitment Fee as set forth in Schedule I and
subject to further adjustments as set forth in Section 2.10(g).

“Applicable Percentage” means:

          (a) with respect to the US Facility and any US Lender, (i) the ratio (expressed as a
percentage) of such Lender’s US Commitment at such time to the aggregate US Commitments of the US
Lenders at such time or (ii) if the US Commitments have been terminated or expired, the ratio
(expressed as a percentage) of such US Lender’s aggregate outstanding US Advances at such time to
the total aggregate outstanding US Advances at such time;

          (b) with respect to the Canadian Facility and any Canadian Lender, (i) the ratio (expressed as
a percentage) of such Canadian Lender’s Canadian Commitment at such time to the aggregate Canadian
Commitments of the Canadian Lenders at such time or (ii) if the Canadian Commitments have been
terminated or expired, the ratio (expressed as a percentage) of such Canadian Lender’s aggregate
outstanding Canadian Advances at such time to the total aggregate outstanding Canadian Advances at
such time; and

          (c) with respect to the Facilities as a whole and to any Lender, (i) the ratio (expressed as a
percentage) of such Lender’s Commitments at such time to the aggregate Commitments of the Lenders
at such time or (ii) if the Commitments have been terminated or expired, the ratio (expressed as a

-3-

 

percentage) of such Lender’s aggregate outstanding Advances at such time to the total
aggregate outstanding Advances at such time.

“Applicable Swingline Lender” means US Swingline Lender, with respect to US Swingline
Advances, or Canadian Swingline Lender, with respect to Canadian Swingline Advances.

“Approved Fund” means 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.

“ASC 410, 718 and 815” means the Financial Accounting Standards Board (FASB) Accounting
Standards Codification (ASC) Topic 410, Asset Retirement and Environmental Conditions, Topic 718,
Stock Compensation (formerly, FASB Statement 123R), and Topic 815, Derivatives and Hedging.

“Assignee Group” means two or more Eligible Assignees that are Affiliates of one another or
two or more Approved Funds managed by the same investment advisor.

“Assignment and Assumption” means an assignment and assumption executed by a Lender and an
Eligible Assignee and accepted by the US Administrative Agent, and if under the Canadian Facility,
also accepted by the Canadian Administrative Agent, in substantially the form set forth in Exhibit
A.

“AutoBorrow Agreement” means any agreement providing for automatic borrowing services
between a US Credit Party and the US Swingline Lender.

“Base Rate Advance” means a US Advance or a Canadian Advance denominated in Dollars which
bears interest based upon the Adjusted Base Rate or the Canadian Base Rate, respectively.

“B/A Advance” means a B/A accepted and purchased by a Canadian Lender pursuant to Section
2.5 or a B/A Equivalent Advance made by a Canadian Lender pursuant to Section 2.5. For greater
certainty, all provisions of this Agreement that are applicable to Bankers’ Acceptances are also
applicable, mutatis mutandis, to B/A Equivalent Advances.

“B/A Borrowing” means a Borrowing comprised of one or more Bankers’ Acceptances or, as
applicable, B/A Equivalent Advance, as to which a single Contract Period is in effect.

“B/A Equivalent Advance” shall have the meaning assigned to such term in Section 2.5.

“Bankers’ Acceptance” and “B/A” means a non-interest bearing bill of exchange
denominated in Canadian Dollars, drawn by the Canadian Borrower, and accepted by a Canadian Lender
in accordance with this Agreement, and shall include a depository bill within the meaning of the
Depository Bills and Notes Act (Canada) and a bill of exchange within the meaning of the Bills of
Exchange Act (Canada).

“Banking Services” means each and any of the following bank services provided to any US
Credit Party by any Banking Services Provider: (a) commercial credit cards, (b) stored value cards,
and (c) treasury management services (including, without limitation, controlled disbursement,
pooling and netting arrangements, automated clearinghouse transactions, electronic funds transfers,
return items, overdrafts and interstate depository network services).

“Banking Services Obligations” means any and all obligations of any US Credit Party owing
to the Banking Services Providers, whether absolute or contingent and howsoever and whensoever
created, arising, evidenced or acquired (including all renewals, extensions and modifications
thereof and substitutions therefor) in connection with Banking Services.

-4-

 

“Banking Services Provider” means any Lender or Affiliate of a Lender that provides Banking
Services to any US Credit Entity.

“Borrowing” means a US Borrowing, Canadian Borrowing, a B/A Borrowing, a US Swingline
Borrowing or a Canadian Swingline Borrowing.

“Business Day” means any day other than a Saturday, Sunday or other day on which commercial
banks are authorized to close under the Legal Requirements of, or are in fact closed in, the state
where the US Administrative Agent’s Office with respect to Obligations denominated in Dollars is
located and:

          (a) if such day relates to any interest rate settings as to a Eurocurrency Advance denominated
in Dollars, any fundings, disbursements, settlements and payments in Dollars in respect of any such
Eurocurrency Advance, or any other dealings in Dollars to be carried out pursuant to this Agreement
in respect of any such Eurocurrency Advance, means any such day on which dealings in deposits in
Dollars are conducted by and between banks in the London interbank eurodollar market;

          (b) if such day relates to any interest rate settings as to a Eurocurrency Advance denominated
in Euro, any fundings, disbursements, settlements and payments in Euro in respect of any such
Eurocurrency Advance, or any other dealings in Euro to be carried out pursuant to this Agreement in
respect of any such Eurocurrency Advance, means a TARGET Day;

          (c) if such day relates to any interest rate settings as to a Eurocurrency Advance denominated
in a currency other than Dollars or Euro, means any such day on which dealings in deposits in the
relevant currency are conducted by and between banks in the London or other applicable offshore
interbank market for such currency;

          (d) if such day relates to any fundings, disbursements, settlements and payments in a currency
other than Dollars or Euro in respect of a Eurocurrency Advance denominated in a currency other
than Dollars or Euro, or any other dealings in any currency other than Dollars or Euro to be
carried out pursuant to this Agreement in respect of any such Eurocurrency Advance (other than any
interest rate settings), means any such day on which banks are open for foreign exchange business
in the principal financial center of the country of such currency; and

          (e) if such day also relates to any fundings, disbursements, settlements and payments under
the Canadian Facility, means any such day on which banks are not required or authorized by law to
close in Calgary, Alberta Canada and Toronto, Ontario Canada.

“Canadian Administrative Agent” means, from and after the Canadian Facility Effective Date,
HSBC in its capacity as agent for the Canadian Lenders pursuant to Article VIII and any successor
agent pursuant to Section 8.6; provided that the Canadian Administrative Agent shall at all times
be a Canadian resident for purposes of the ITA.

“Canadian Advance” means (a) an advance by a Canadian Lender to the Canadian Borrower as a
part of a Borrowing pursuant to Section 2.1 and refers to either a Canadian Base Rate Advance or a
Eurocurrency Advance, and (b) a B/A accepted and purchased by a Canadian Lender pursuant to Section
2.5 and B/A Equivalent Advances made by a Canadian Lender pursuant to Section 2.5.

“Canadian Anti-Terrorism Laws” means the anti-terrorist provisions of the Criminal Code
(Canada), the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada), the United
Nations Suppression of Terrorism Regulations and the Anti-terrorism Act (Canada) and all
regulations and orders made thereunder.

-5-

 

“Canadian Base Rate” means, on any day:

          (a) for Canadian Advances and Canadian Swingline Advances denominated in Canadian Dollars, the
rate per annum equal to the greater of (i) the annual rate of interest announced from time to time
by the Canadian Administrative Agent as its prime rate in effect at its principal office in
Toronto, Ontario on such day for determining interest rates on Canadian Dollar-denominated
commercial loans made in Canada; and (ii) the annual rate of interest equal to the sum of (A) the
CDOR Rate in effect on such day and (B) 1%, and

          (b) for Canadian Advances and Canadian Swingline Advances denominated in Dollars, the rate per
annum equal to the greater of (i) the annual rate of interest announced from time to time by the
Canadian Administrative Agent as its base rate in effect at its principal office in Toronto,
Ontario on such day for determining interest rates on Dollar-denominated commercial loans made in
Canada and (ii) the Federal Funds Rate in effect on such day plus 1/2 of 1%. Each change in the
Canadian Base Rate shall be effective on the date such change is publicly announced as being
effective.

“Canadian Base Rate Advance” means Canadian Base Rate (C$) Advance or Canadian Base Rate
(US$) Advance.

“Canadian Base Rate (C$) Advance” means a Canadian Advance in Canadian Dollars that bears
interest as provided in part (a) of the definition of Canadian Base Rate.

“Canadian Base Rate (US$) Advance” means a Canadian Advance in Dollars that bears interest
as provided in part (b) of the definition of Canadian Base Rate.

“Canadian Benefit Plans” means all employee benefit plans of any nature or kind whatsoever
that are not Canadian Pension Plans and are maintained or contributed to by the US Borrower or any
of the Canadian Subsidiaries, in each case covering employees in Canada.

“Canadian Borrowing” means a borrowing consisting of simultaneous Canadian Advances of the
same Type made by the Canadian Lenders pursuant to Section 2.1.

“Canadian Cash Collateral Account” means a special cash collateral account pledged to the
Canadian Administrative Agent containing cash deposited pursuant to the terms hereof to be
maintained with the Administrative Agent in accordance with the terms hereof.

“Canadian Collateral” means (a) all “Collateral”, “Pledged Collateral”, “Pledged Accounts”
and “Mortgaged Property” (as defined in the Canadian Security Agreements, as applicable) or similar
terms used in the Canadian Security Documents, and (b) all amounts contained in the Canadian
Borrower’s and Foreign Restricted Subsidiaries’ bank accounts.

“Canadian Commitment” means, for each Canadian Lender, the obligation of such Lender to
advance to Canadian Borrower the amount set opposite such Lender’s name on Schedule II as its
Canadian Commitment, or if such Lender has entered into any Assignment and Assumption, set forth
for such Lender as its Canadian Commitment in the applicable Register, as such amount may be
reduced, increased or reallocated pursuant to Section 2.1; provided that (i) after the
Maturity Date, the Canadian Commitment for each Lender shall be zero, (ii) the aggregate Canadian
Commitments shall not exceed $30,000,000 at any time unless otherwise consented to in writing by
the US Majority Lenders, and (iii) as of the Effective Date, the aggregate Canadian Commitments is
equal to $0 and shall remain equal to $0 until increased on the Canadian Facility Effective Date
pursuant to and in accordance with Section 2.17.

-6-

 

“Canadian Commitment Fee” means the fees required under Section 2.9(b).

“Canadian Dollar Equivalent” shall mean, on any date of determination, with respect to any
amount in Dollars, the equivalent in Canadian Dollars of such amount, determined by the Canadian
Administrative Agent using the Exchange Rate then in effect.

“Canadian Dollars” and “C$” means the lawful money of Canada.

“Canadian Facility” means, collectively, (a) the revolving credit facility described in
Section 2.1(b) and Section 2.5, (b) the swing line subfacility provided by the Canadian Swingline
Lender described in Section 2.4 and (c) the letter of credit subfacility provided by the Canadian
Issuing Lender described in Section 2.3. Notwithstanding anything herein to the contrary, the
Canadian Facility is not in effect until the Canadian Facility Effective Date.

“Canadian Facility Effective Date” means the date on which all of the conditions set forth
in Section 2.17 have been satisfied and designation of the Canadian Borrower pursuant to and in
accordance with the requirements in Section 2.17 shall have become effective.

“Canadian Guaranty” means, individually and collectively, the guarantees, in the form
reasonably acceptable to the Guarantor executing such and the Administrative Agents, and made by
the Company or a Foreign Restricted Subsidiary Guarantor in favor of the Canadian Administrative
Agent for the benefit of the Canadian Secured Parties.

“Canadian Issuing Lender” means, as of the Canadian Facility Effective Date, HSBC, in its
capacity as the Canadian Lender that issues Canadian Letters of Credit pursuant to the terms of
this Agreement.

“Canadian Lender Party” means Lender Parties under the Canadian Facility.

“Canadian Lenders” means, from and after the Canadian Facility Effective Date, such Lenders
having a Canadian Commitment or if such Canadian Commitments have been terminated, Lenders that are
owed Canadian Advances. Each Canadian Lender at all times shall be a Schedule I Bank, a Schedule
II Bank or a Schedule III Bank. From and after the Effective Date but prior to the Canadian
Facility Effective Date, there is no Canadian Lender. For the avoidance of doubt, no Lender may be
made a Canadian Lender without such Lender’s express written agreement which agreement may be made
in its sole and absolute discretion.

“Canadian Letter of Credit” means any standby or commercial letter of credit issued by the
Canadian Issuing Lender for the account of the Canadian Borrower or any Guarantor pursuant to the
terms of this Agreement, in such form as may be agreed by the Canadian Borrower and the Canadian
Issuing Lender.

“Canadian Letter of Credit Application” means the Canadian Issuing Lender’s standard form
letter of credit application for standby or commercial letters of credit which has been executed by
the Canadian Borrower and accepted by the Canadian Issuing Lender in connection with the issuance
of a Canadian Letter of Credit.

“Canadian Letter of Credit Documents” means all Canadian Letters of Credit, Canadian Letter
of Credit Applications and amendments thereof, and agreements, documents, and instruments entered
into in connection therewith or relating thereto.

“Canadian Letter of Credit Exposure” means, at the date of its determination by the
Canadian Administrative Agent, the aggregate outstanding undrawn amount of Canadian Letters of
Credit plus the

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aggregate unpaid amount of all of the Canadian Borrower’s payment obligations under drawn Canadian
Letters of Credit.

“Canadian Letter of Credit Extension” means, with respect to any Canadian Letter of Credit,
the issuance thereof or extension of the expiry date thereof, or the increase of the amount
thereof.

“Canadian Letter of Credit Maximum Amount” means (a) from and after the Effective Date but
prior to the Canadian Facility Effective Date, C$0, and (b) from and after the Canadian Facility
Effective Date, such amount as agreed to between the Canadian Borrower and the Canadian Issuing
Lender in writing, a copy of which agreement has been provided to the US Administrative Agent;
provided that, on and after the Maturity Date, the Canadian Letter of Credit Maximum Amount
shall be zero.

“Canadian Letter of Credit Obligations” means all obligations of the Canadian Borrower
under this Agreement in connection with the Canadian Letters of Credit.

“Canadian Majority Lenders” means (a) at any time when there are more than two Canadian
Lenders, two or more Canadian Lenders holding at least 51% of the sum of the unutilized Canadian
Commitments plus the Canadian Outstandings (with the aggregate amount of each Lender’s risk
participation and funded participation in the Canadian Letter of Credit Obligations and Canadian
Swingline Advances being deemed “held” by such Canadian Lender for purposes of this definition);
and (b) at any time when there are one or two Canadian Lenders, all Canadian Lenders;
provided that, (i) in any event, if there are two or more Canadian Lenders, the
Canadian Commitment of, and the portion of the Advances and Letter of Credit Exposure held or
deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of
Canadian Majority Lenders unless all Canadian Lenders are Defaulting Lenders, and (ii) for purposes
of this definition, Canadian Letter of Credit Exposure which is not reallocated or Cash
Collateralized in accordance with Section 2.18 shall be deemed to be held by the Canadian Issuing
Lender.

“Canadian Note” means a promissory note of the Canadian Borrower payable to the order of a
Canadian Lender in the amount of such Lender’s Canadian Commitment, in the form provided by the
Canadian Administrative Agent and acceptable to the Canadian Borrower.

“Canadian Obligations” means the Obligations owing by the Canadian Borrower or any Canadian
Guarantor.

“Canadian Outstandings” means, as of the date of determination, the sum of (a) the Dollar
Equivalent of the aggregate outstanding amount of all Canadian Advances plus (b) the Dollar
Equivalent of the Canadian Letter of Credit Exposure plus (c) the Dollar Equivalent of the
aggregate outstanding amount of all Canadian Swingline Advances.

“Canadian Pension Plans” means each plan that is considered to be a pension plan for the
purposes of any applicable pension benefits standards statute and/or regulation in Canada
established, maintained or contributed to by the Canadian Borrower or any of the Canadian
Subsidiaries for its employees or former employees.

“Canadian Secured Parties” means the Canadian Administrative Agent, the Canadian Lenders,
the Canadian Issuing Lender, and the Canadian Swingline Lender.

“Canadian Security Agreement” means, individually and collectively, the security
agreements, in form and substance reasonably acceptable to the Canadian Borrower and the
Administrative Agents and

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entered into by the Canadian Borrower or a Foreign Subsidiary Guarantor, as grantor, and the
Canadian Administrative Agent for the benefit of the Canadian Secured Parties.

“Canadian Security Documents” means the Canadian Security Agreement, and each other
Security Document to which the Canadian Borrower or any US Guarantor or Foreign Subsidiary
Guarantor is a party and that purports to grant a Lien in the assets of any such Person in favor of
the Canadian Administrative Agent for the benefit of the Canadian Secured Parties.

“Canadian Subsidiaries” means the Subsidiaries organized under the laws of Canada or any
province, territory or other political subdivision thereof.

“Canadian Swingline Advance” means an advance by the Canadian Swingline Lender to the
Canadian Borrower pursuant to Section 2.4.

“Canadian Swingline Amount” means, for the Canadian Swingline Lender, (a) from and after
the Effective Date but prior to the Canadian Facility Effective Date, C$0, and (b) from and after
the Canadian Facility Effective Date, such amount as agreed to between the Canadian Borrower and
the Canadian Swingline Lender in writing, a copy of which agreement has been provided to the US
Administrative Agent; provided that, on and after the Maturity Date, the Canadian Swingline
Amount shall be zero.

“Canadian Swingline Borrowing” means the Borrowing consisting of a Swingline Advance made
by the Canadian Swingline Lender pursuant to Section 2.4.

“Canadian Swingline Lender” means HSBC.

“Canadian Swingline Note” means a promissory note made by the Canadian Borrower payable to
the order of the Canadian Swingline Lender in the form provided by the Canadian Administrative
Agent and acceptable to the Canadian Borrower.

“Canadian Swingline Payment Date” means the Maturity Date.

“Capital Expenditures” for any Person and period of its determination means, without
duplication, the aggregate of all expenditures and costs (whether paid in cash or accrued as
liabilities during that period and including that portion of Capital Leases which is capitalized on
the balance sheet of such Person) of such Person during such period that, in conformity with GAAP,
are required to be included in or reflected by the property, plant, or equipment or similar fixed
asset accounts reflected in the balance sheet of such Person.

“Capital Leases” means, for any Person, any lease of any Property by such Person as lessee
which would, in accordance with GAAP, be required to be classified and accounted for as a capital
lease on the balance sheet of such Person, subject in all cases to Section 1.3(d).

“Cash Collateral Account” means the US Cash Collateral Account or the Canadian Cash
Collateral Account.

“Cash Collateralize” means, to pledge and deposit with or deliver to the Applicable
Administrative Agent, for the benefit of one or more of the Issuing Lenders, Lenders or the
Swingline Lenders, as collateral for Secured Obligations or the Canadian Obligations, as
applicable, or the obligations of Lenders to fund participations in respect of Letter of Credit
Obligations or Swingline Advances, cash or deposit account balances or, if the Applicable
Administrative Agent, each Applicable Issuing Lender and the Swingline Lenders shall agree in their
sole discretion, other credit support, in each case pursuant to documentation in

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form and substance reasonably satisfactory to the Applicable Administrative Agent, each Applicable
Issuing Lender and the Applicable Swingline Lender. “Cash Collateral” shall have a meaning
correlative to the foregoing and shall include the proceeds of such cash collateral and other
credit support.

“CDOR Rate” means, for each day in any period, the annual rate of interest that is the rate
based on an average rate applicable to Canadian Dollar bankers’ acceptances for a term equal to the
term of the relevant Contract Period (or for a term of 30 days for purposes of determining the
Canadian Base Rate) appearing on the Reuters Screen CDOR Page at approximately 10:00 a.m. (Toronto,
Ontario time), on such date, or if such date is not a Business Day, on the immediately preceding
Business Day; provided that if such rate does not appear on the Reuters Screen CDOR Page on such
date as contemplated, then the CDOR Rate on such date shall be the arithmetic average of the
Discount Rate quoted by each Schedule II/III Reference Bank (determined by the Canadian
Administrative Agent as of 10:00 a.m. (Toronto, Ontario time) on such date) that would be
applicable to Canadian Dollar bankers’ acceptances for the relevant period quoted by such bank as
of 10:00 a.m. (Toronto, Ontario time) on such date or, if such date is not a Business Day, on the
immediately preceding Business Day.

“CERCLA” means the Comprehensive Environmental Response, Compensation, and Liability Act of
1980, as amended, state and local analogs, and all rules and regulations and requirements
thereunder in each case as now or hereafter in effect.

“Change in Control” means the occurrence of any of the following events: (a) the Company
ceases to own, either directly or indirectly, 100% of the Equity Interest in any Restricted
Subsidiary other than as a result of a sale of asset or merger permitted under Section 6.7 or
Section 6.8; (b) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or its
subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary
or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and
13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to
have “beneficial ownership” of all securities that such person or group has the right to acquire
(such right, an “option right”), whether such right is exercisable immediately or only after the
passage of time), directly or indirectly, of 35% or more of the equity securities of the Company
entitled to vote for members of the board of directors or equivalent governing body of the Company
on a fully-diluted basis (and taking into account all such securities that such person or group has
the right to acquire pursuant to any option right), or (c) during any period of 12 consecutive
months, a majority of the members of the board of directors or other equivalent governing body of
the Company cease to be composed of individuals (i) who were members of that board or equivalent
governing body on the first day of such period, (ii) whose election or nomination to that board or
equivalent governing body was approved by individuals referred to in clause (i) above constituting
at the time of such election or nomination at least a majority of that board or equivalent
governing body or (iii) whose election or nomination to that board or other equivalent governing
body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time
of such election or nomination at least a majority of that board or equivalent governing body.

“Change in Law” means the occurrence, after the date of this Agreement, of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change
in any law, rule, regulation or treaty or in the administration, interpretation, implementation or
application thereof by any Governmental Authority or (c) the making or issuance of any request,
rule, guideline or directive (whether or not having the force of law) by any Governmental
Authority; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall
Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives
thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives
promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision
(or any successor or similar authority) or the United States or foreign

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regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a
“Change in Law”, regardless of the date enacted, adopted or issued.

“Class” has the meaning set forth in Section 1.4.

“CNTA” as of any date of determination, means the total amount of assets (less accumulated
depreciation and amortization, allowances for doubtful receivables, other applicable reserves and
other properly deductible items) which would appear on a consolidated balance sheet of any Person
consisting of the Company and the Restricted Subsidiaries, determined on a consolidated basis in
accordance with GAAP, and after giving effect to purchase accounting and after deducting therefrom
(a) Current Liabilities (as defined below) and (b) to the extent otherwise included therein, the
amounts of (i) non-controlling interests in such consolidated Subsidiaries held by Persons other
than Company or a Restricted Subsidiary, (ii) excess of cost over fair value of assets of
businesses acquired, as determined in good faith, (iii) any revaluation or other write-up in book
value of assets subsequent to the Effective Date as a result of a change in the method of valuation
in accordance with GAAP consistently applied, (iv) all intangible assets, (v) treasury stock, (vi)
cash set apart and held in a sinking or other analogous fund established for the purpose of
redemption or other retirement of Equity Interests to the extent such obligation is not reflected
in Consolidated Current Liabilities, and (vii) investments in and assets of Unrestricted
Subsidiaries. For purposes of this definition, “Current Liabilities” means, at any date, all
amounts that would, in conformity with GAAP, be set forth opposite the caption “total current
liabilities” (or any like caption) on a consolidated balance sheet of the Company and its
Restricted Subsidiaries at such date, but excluding (x) the current portion of any long term debt
of the Company and its Restricted Subsidiaries and (y) without duplication of clause (x) above, all
Advances outstanding under this Agreement.

“Code” means the Internal Revenue Code of 1986, as amended, and the regulations and
published interpretations thereof.

“Collateral” means, collectively, all of the US Collateral and the Canadian Collateral.

“Commitment Fee” means the Canadian Commitment Fee or the US Commitment Fee.

“Commitment Increase” has the meaning set forth in Section 2.2.

“Commitments” means, as to any Lender, its US Commitment or Canadian Commitment, if
applicable.

“Company” has the meaning set forth in the recitals.

“Compliance Certificate” means a compliance certificate executed by a chief financial
officer of the Company or such other Person as required by this Agreement in substantially the same
form as Exhibit B that shall include a certification by an authorized officer of the Company that
no Default has occurred and is continuing.

“Computation Date” means (a) the Effective Date, (b) the Canadian Facility Effective Date,
and (c) so long as any outstanding Credit Extension under any Facility is denominated in a Foreign
Currency, (i) the last Business Day of each calendar quarter, (ii) the date of any proposed Credit
Extension if the US Administrative Agent shall determine or the US Majority Lenders shall require,
(iii) the date of any reduction or reallocation of Commitments pursuant to Sections 2.1(c) or (d),
(iv) the date of any increase in the Commitments under Section 2.1(f), (v) the date of any
reallocation provided in Section 2.18, (vi) if any such Credit Extensions are under the US
Facility, such additional dates as the US Administrative Agent shall determine or the US Majority
Lenders shall require, and (vii) if any such Credit Extensions

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are under the Canadian Facility, such additional dates as the Canadian Administrative Agent shall
determine or the Canadian Majority Lenders shall require.

“Contract Period” means the term of a B/A Advance selected by the Canadian Borrower in
accordance with Section 2.5, commencing on the date of such B/A Advance and expiring on a Business
Day which shall be either 30 days, 60 days, 90 days or 180 days thereafter, provided that (a)
subject to clause (b) below, each such period shall be subject to such extensions or reductions as
may be reasonably determined by the Canadian Administrative Agent to ensure that each Contract
Period shall expire on a Business Day, and (b) no Contract Period shall extend beyond the Maturity
Date.

“Control” means 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 ability to exercise voting
power, by contract or otherwise. “Controlling” and “Controlled” have meanings
correlative thereto.

“Controlled Group” means all members of a controlled group of corporations and all
businesses (whether or not incorporated) under common control which, together with the Company or
any Subsidiary (as applicable), are treated as a single employer under Section 414 of the Code.

“Convert”, “Conversion” and “Converted” each refers to (a) a conversion of US Advances of
one Type into US Advances of another Type pursuant to Sections 2.6(b) and (c), (b) a conversion of
B/A Advances into Canadian Base Rate Advances pursuant to Sections 2.6(b) and (c), or (c) a
conversion of Canadian Base Rate Advances into B/A Advances pursuant to Sections 2.6(b) and (c) and
Section 2.5.

“Credit Documents” means this Agreement, the Notes, the Letter of Credit Documents, the
Guaranties, the Notices of Borrowing, the Notices of Conversion, the Security Documents, any
AutoBorrow Agreement, the Fee Letter, and each other agreement, instrument, or document executed at
any time in connection with this Agreement.

“Credit Extension” means an Advance or a Letter of Credit Extension.

“Credit Parties” means the Borrowers and the Guarantors.

“Daily One-Month LIBOR” means, for any day, the rate of interest equal to the Eurocurrency
Rate for Dollar denominated funds then in effect for delivery for a one (1) month period.

“Debt” means, for any Person, without duplication: (a) indebtedness of such Person for
borrowed money, including, without limitation, the face amount of any letters of credit supporting
the repayment of indebtedness for borrowed money issued for the account of such Person and
obligations under letters of credit, banker’s acceptances, and agreements relating to the issuance
of letters of credit or acceptance financing, including Letters of Credit; (b) obligations of such
Person evidenced by bonds, debentures, notes or other similar instruments; (c) obligations of such
Person to pay the deferred purchase price of property, services, or Acquisitions (including,
without limitation, any earn-out obligations, contingent obligations, or other similar obligations
associated with such purchase, and including obligations that are non-recourse to the credit of
such Person but are secured by the assets of such Person, but excluding trade accounts payable);
(d) obligations of such Person as lessee under Capital Leases and obligations of such Person in
respect of synthetic leases; (e) obligations of such Person under any Hedging Arrangement; (f)
obligations of such Person owing in respect of redeemable preferred stock of such Person; (g)
obligations of such Person under direct or indirect guaranties in respect of, and obligations
(contingent or otherwise) of such Person to purchase or otherwise acquire, or otherwise to assure a
creditor against loss in respect of, indebtedness or obligations of others of the kinds referred to
in clauses (a) through (f) above; and (h) indebtedness or obligations of others of the kinds
referred to in clauses (a) through (g) secured by any

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Lien on or in respect of any Property of such Person. For the avoidance of doubt, non-cash charges
resulting from the requirements of ASC 410, 718 or 815 shall not constitute “Debt” under this
Agreement.

“Debtor Relief Laws” means (a) the Bankruptcy Code of the United States, (b) the Bankruptcy
and Insolvency Act (Canada), (c) the Companies’ Creditors Arrangement Act (Canada) and (d) all
other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors,
moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws
of the United States or other applicable jurisdictions from time to time in effect and affecting
the rights of creditors generally.

“Default” means (a) an Event of Default or (b) any event or condition which with notice or
lapse of time or both would, unless cured or waived, become an Event of Default.

“Defaulting Lender” means, subject to Section 2.18(b), any Lender that (a) has failed to
(i) fund all or any portion of its Advances within two Business Days of the date such Advances were
required to be funded hereunder unless such Lender notifies the Applicable Administrative Agent and
the Applicable Borrower in writing that such failure is the result of such Lender’s good faith
determination that one or more conditions precedent to funding (each of which conditions precedent,
together with any applicable default, shall be specifically identified in such writing) has not
been satisfied or waived, or (ii) pay to the Applicable Administrative Agent, any Issuing Lender,
any Swingline Lender or any other Lender any other amount required to be paid by it hereunder
(including in respect of its participation in Letters of Credit or Swingline Advances) within two
Business Days of the date when due, (b) has notified the Applicable Borrower, the Applicable
Administrative Agent or any Issuing Lender or Swingline Lender in writing that it does not intend
to comply with its funding obligations hereunder, or has made a public statement to that effect
(unless such writing or public statement relates to such Lender’s obligation to fund an Advance or
participation hereunder and states that such position is based on such Lender’s good faith
determination that a condition precedent to funding (which condition precedent, together with any
applicable default, shall be specifically identified in such writing or public statement) cannot be
satisfied), (c) has failed, within three Business Days after written request by the Applicable
Administrative Agent or the Applicable Borrower, to confirm in writing to the Applicable
Administrative Agent and the Applicable Borrower that it will comply with its prospective funding
obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to
this clause (c) upon receipt of such written confirmation by the Applicable Administrative Agent
and the Applicable Borrower), or (d) has, or has a direct or indirect parent company that has, (i)
become the subject of a proceeding under any Debtor Relief Law, or (ii) had appointed for it a
receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or
similar Person charged with reorganization or liquidation of its business or assets, including the
Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in
such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the
ownership or acquisition of any equity interest in that Lender or any direct or indirect parent
company thereof by a Governmental Authority so long as such ownership interest does not result in
or provide such Lender with immunity from the jurisdiction of courts within the United States or
from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or
such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements
made with such Lender. Any determination by the Applicable Administrative Agent that a Lender is a
Defaulting Lender under clauses (a) through (d) above shall be conclusive and binding absent
manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section
2.18(b)) upon delivery of written notice of such determination to the Applicable Borrower,
Applicable Issuing Lender, Applicable Swingline Lender and each applicable Lender.

“Default Rate” means a per annum rate equal to (a) in the case of principal of any Advance,
2.00% plus the rate otherwise applicable to such Advance as provided in Sections 2.10(a), (b), or
(c), and (b) in the

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case of any other Obligation, 2.00% plus the non-default rate applicable to US Base Rate Advances
denominated in Dollars as provided in Section 2.10(a).

“Designated Currency” means, (a) for Eurocurrency Advances under the US Facility, the
Agreed Currency which is designated for such Eurocurrency Advances, (b) for US Base Rate Advances,
Dollars, (c) for US Swingline Advances and US Letters of Credit, Dollars, (d) for Canadian
Swingline Advances, Canadian Dollars, (e) for B/As and B/A Equivalent Advances, Canadian Dollars,
(f) for Eurocurrency Advances under the Canadian Facility, Dollars or Canadian Dollars, (g) for
Canadian Base Rate (C$) Advances, Canadian Dollars, (h) for Canadian Base Rate (US$) Advances,
Dollars, and (i) for Canadian Letters of Credit, Canadian Dollars or Dollars as designated by the
Canadian Borrower.

“Discount Proceeds” means for any B/A (or, as applicable, any B/A Equivalent Advance), an
amount (rounded to the nearest whole cent, and with one-half of one cent being rounded up)
calculated on the applicable Borrowing date by multiplying:

          (a) the face amount of the B/A (or, as applicable, any B/A Equivalent Advance); by

          (b) the quotient of one divided by the sum of one plus the product of:

     (i) the Discount Rate (expressed as a decimal) applicable to such B/A (or, as
applicable, any B/A Equivalent Advance), and

     (ii) a fraction, the numerator of which is the number of days in the Contract
Period of the B/A (or, as applicable, any B/A Equivalent Advance) and the denominator of
which is 365,

with such quotient being rounded up or down to the fifth decimal place and .000005 being rounded
up.

“Discount Rate” means (a) with respect to any Canadian Lender that is a Schedule I Bank, as
applicable to a B/A being purchased by such Lender on any day, the CDOR Rate; and (b) with respect
to any Canadian Lender that is not a Schedule I Bank, as applicable to a B/A being purchased by
such Lender on any day, the lesser of (A) the CDOR Rate plus 10 basis points (0.10%), and (B) the
average (as determined by the Canadian Administrative Agent in good faith) of the respective
percentage discount rates (expressed to two decimal places and rounded upward, if not in an
increment of 1/100th of 1%, to the nearest 0.01%) quoted by the Schedule II/III
Reference Banks as the percentage discount rates at which the Schedule II/III Reference Banks
would, in accordance with their normal market practices, at or about 10:00 a.m. (Standard Time) on
such date, be prepared to purchase bankers’ acceptances accepted by the Schedule II/III Reference
Banks having a face amount and term comparable to the face amount and term of such B/A.

“Disposition” means any sale, lease, transfer, assignment, conveyance, or other disposition
of any Property; “Dispose” or similar terms shall have correlative meanings; provided that,
for purposes of Section 6.8, a designation of a Restricted Subsidiary as an Unrestricted Subsidiary
and a merger, amalgamation, or consolidation of a Restricted Subsidiary into an Unrestricted
Subsidiary where the Unrestricted Subsidiary is the surviving entity, are each deemed to be a
Disposition of all assets of such Restricted Subsidiary to an Unrestricted Subsidiary.

“Dollar Equivalent” means, at any time, (a) with respect to any amount denominated in
Dollars, such amount, and (b) with respect to any amount denominated in any Foreign Currency, the
equivalent amount thereof in Dollars as determined by the Applicable Administrative Agent or the
Applicable Issuing Lender, as the case may be, at such time on the basis of the Exchange Rate
(determined in respect of the most recent Computation Date) for the purchase of Dollars with such
Foreign Currency.

“Dollars” and “$” means lawful money of the United States.

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“Domestic Proceeds” means all casualty insurance or condemnation proceeds received by
the Company or any Restricted Subsidiary which do not constitute Foreign Proceeds.

“Domestic Restricted Subsidiary” means any Restricted Subsidiary that is not a Foreign
Subsidiary.

“Domestic Subsidiary” means, with respect to any Person, any of its Subsidiaries that is
incorporated or organized under the laws of the United States, any State thereof or the District of
Columbia.

“EBITDA” means, without duplication, for a Person, the sum of (a) such Person’s
consolidated Net Income for such period (it being understood that no amounts of the Unrestricted
Subsidiaries’ Net Income shall be taken into account in calculating EBITDA for the Company other
than to the extent provided in clause (c) below) plus (b) to the extent deducted in
determining such consolidated Net Income, Interest Expense, taxes, depreciation, amortization and
other non-cash charges (including any provision for the reduction in the carrying value of assets
recorded in accordance with GAAP and including non-cash charges resulting from the requirements of
ASC 410, 718 and 815) for such period plus (c) cash dividends received by the Restricted
Entities from Unrestricted Subsidiaries during such period which have not been distributed as a
Restricted Payment (other than to another Restricted Entity) minus (d) all non-cash items
which were included in determining such consolidated Net Income (including non-cash items resulting
from the requirements of ASC 410, 718 and 815); provided that, such EBITDA shall be subject
to pro forma adjustments for Acquisitions and Nonordinary Course Asset Sales assuming that such
transactions had occurred on the first day of the determination period, which adjustments shall be
made in accordance with the guidelines for pro forma presentations set forth by the SEC.

“Effective Date” means the date of this Agreement.

“Eligible Assignee” means (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved Fund,
and (e) any other Person (other than a natural person) approved by (i) the US Administrative Agent
and the US Issuing Lender in the case of any assignment of a US Commitment, (ii) the Canadian
Administrative Agent in the case of any assignment of a Canadian Commitment, (iii) unless an Event
of Default has occurred and is continuing at the time any assignment is effected in accordance with
Section 9.6, the US Borrower with respect to any assignment of a US Commitment, and (iv) unless an
Event of Default has occurred and is continuing at the time any assignment is effected in
accordance with Section 9.6, the Canadian Borrower with respect to any assignment of a Canadian
Commitment (each such approval not to be unreasonably withheld or delayed); provided,
however, that neither the Company nor an Affiliate of the Company shall qualify as an Eligible
Assignee.

“Eligible Currency” means any Foreign Currency provided that: (a) quotes for loans in such
currency are available in the London interbank deposit market; (b) such currency is freely
transferable and convertible into Dollars in the London foreign exchange market, (c) no approval of
a Governmental Authority in the country of issue of such currency is required to permit use of such
currency by any applicable Lender or Issuing Lender for making loans or issuing letters of credit,
or honoring drafts presented under letters of credit in such currency, and (d) there is no
restriction or prohibition under any applicable Legal Requirements against the use of such currency
for such purposes.

“EMU Legislation” means the legislative measures of the European Council for the
introduction of, changeover to or operation of a single or unified European currency.

“Environment” or “Environmental” shall have the meanings set forth in 42 U.S.C.
9601(8) (1988).

“Environmental Claim” means any third party (including governmental agencies and employees)
action, lawsuit, claim, demand, regulatory action or proceeding, order, decree, consent agreement
or notice of

-15-

 

potential or actual responsibility or violation (including claims or proceedings under the
Occupational Safety and Health Acts or similar laws or requirements relating to health or safety of
employees) which seeks to impose liability under any Environmental Law.

“Environmental Law” means all federal, state, and local laws, rules, regulations,
ordinances, orders, decisions, agreements, and other requirements, including common law theories,
now or hereafter in effect and relating to, or in connection with the Environment, health, or
safety, including without limitation CERCLA, relating to (a) pollution, contamination, injury,
destruction, loss, protection, cleanup, reclamation or restoration of the air, surface water,
groundwater, land surface or subsurface strata, or other natural resources; (b) solid, gaseous or
liquid waste generation, treatment, processing, recycling, reclamation, cleanup, storage, disposal
or transportation; (c) exposure to pollutants, contaminants, hazardous, medical infections, or
toxic substances, materials or wastes; (d) the safety or health of employees; or (e) the
manufacture, processing, handling, transportation, distribution in commerce, use, storage or
disposal of hazardous, medical infections, or toxic substances, materials or wastes.

“Environmental Permit” means any permit, license, order, approval, registration or other
authorization under Environmental Law.

“Equity Interest” means with respect to any Person, any shares, interests, participation,
or other equivalents (however designated) of corporate stock, membership interests or partnership
interests (or any other ownership interests) of such Person.

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

“Euro” and “EUR” mean the lawful currency of the Participating Member States
introduced in accordance with the EMU Legislation.

“Eurocurrency Advance” means a US Advance or a Canadian Advance that bears interest based
upon the Eurocurrency Rate.

“Eurocurrency Liabilities” has the meaning assigned to that term in Regulation D of the
Federal Reserve Board as in effect from time to time.

“Eurocurrency Base Rate” means,

(a) in determining Eurocurrency Base Rate for purposes of the “Daily One-Month LIBOR”, the rate
per annum for Dollar deposits quoted by the US Administrative Agent for the purpose of calculating
effective rates of interest for loans making reference to the “Daily One-Month LIBOR”, as the
inter-bank offered rate in effect from time to time for delivery of funds for one (1) month in
amounts approximately equal to the principal amount of the applicable Advances; provided that, (i)
the US Administrative Agent may base its quotation of the inter-bank offered rate upon such offers
or other market indicators of the inter-bank market as the US Administrative Agent in its
reasonable discretion deems appropriate including, but not limited to, the rate determined under
the following clause (b), and (ii) such rate per annum shall be generally applicable to all credit
facilities agented by the US Administrative Agent which makes reference to the “Daily One-Month
LIBOR” or words of similar import;

(b) in determining Eurocurrency Base Rate for all other purposes, for the Interest Period for each
Eurocurrency Advance comprising the same Borrowing, the interest rate per annum (rounded upward to
the nearest whole multiple of 1/100 of 1%) equal to (i) the applicable London interbank offered
rate for deposits in the Designated Currency for such Borrowing appearing on Reuters Screen FRBD
for such Designated Currency as of 11:00 a.m. (London, England time) two Business Days prior to the
first day of

-16-

 

such Interest Period, and having a maturity equal to such Interest Period, and (ii) if the rate as
determined under clause (i) is not available at such time for any reason, then the rate determined
by the Applicable Administrative Agent to be the rate at which deposits in the Designated Currency
for delivery on the first day of such Interest Period in immediately available funds in the
approximate amount of the Eurocurrency Advance being made, continued or converted by the Applicable
Administrative Agent and with a term equivalent to such Interest Period would be offered by the
Applicable Administrative Agent’s London Branch (or other branch or Affiliate of the Applicable
Administrative Agent, or in the event that the Applicable Administrative Agent does not have a
London branch, the London branch of a Lender chosen by the Applicable Administrative Agent)) to
major banks in the London or other offshore interbank market for such currency at their request at
approximately 11:00 a.m. (London time) two Business Days prior to the commencement of such Interest
Period.

“Eurocurrency Rate” means a rate per annum determined by the Applicable Administrative
Agent pursuant to the following formula:

	 	 	 	 	 	 	 

	Eurocurrency Rate

	 	=	 	Eurocurrency Base Rate	 	 
	 	 	 

1.00 – Eurocurrency Reserve Percentage
	 	 

Where,

	 	 	 	“Eurocurrency Reserve Percentage” means, as of any day, the reserve
percentage (expressed as a decimal, carried out to five decimal places) in effect on
such day, whether or not applicable to any Lender, under regulations issued from
time to time by the Federal Reserve Board for determining the maximum reserve
requirement (including any emergency, supplemental or other marginal reserve
requirement) with respect to liabilities or assets consisting of or including
Eurocurrency Liabilities. The Eurocurrency Rate for each outstanding Advance shall
be adjusted automatically as of the effective date of any change in the Eurocurrency
Reserve Percentage.

“Event of Default” has the meaning specified in Section 7.1.

“Exchange Rate” means, on any Business Day, (a) with respect to any calculation of the
Dollar Equivalent with respect to any Foreign Currency on such date or any calculation of the
Foreign Currency Equivalent on such date, the rate at which such Foreign Currency may be exchanged
into Dollars or Dollars may be exchanged into such Foreign Currency, as set forth on such date on
the relevant FWDS Series Reuters currency page at or about 11:00 a.m. Houston, Texas time on such
date and (b) with respect to any calculation of the Canadian Dollar Equivalent, the rate at which
Dollars may be exchanged into Canadian Dollars, as set forth on such date on the relevant FWDS
Series Reuters currency page at or about 11:00 a.m. Houston, Texas time on such date. In the event
that such rate does not appear on any such Reuters page, the “Exchange Rate” with respect to such
Foreign Currency (including Canadian Dollars) shall be determined by reference to such other
publicly available service for displaying exchange rates as may be agreed upon by the US
Administrative Agent and the Borrowers or, in the absence of such agreement, such “Exchange Rate”
shall instead be the US Administrative Agent’s spot rate of exchange in the interbank market where
its currency exchange operations in respect of such Foreign Currency are then being conducted, at
or about 10:00 A.M. local time at such date for the purchase of such Foreign Currency with Dollars
or the purchase of Dollars with such Foreign Currency, as the case may be, for delivery two
Business Days later; provided that if at the time of any such determination no such spot
rate can reasonably be quoted, the US Administrative Agent may use any reasonable method (including
obtaining quotes from three or more market makers for such Foreign Currency) as it deems
appropriate to determine such rate and such determination shall be presumed correct absent manifest
error.

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“Excluded Perfection Collateral” shall mean, unless otherwise elected by the US
Administrative Agent during the continuance of an Event of Default, collectively (a) Certificated
Equipment, as defined in the US Security Agreement, (b) deposit accounts, commodities accounts and
securities accounts other than the Cash Collateral Accounts, and (c) any other Property (i) in
which a security interest cannot be perfected by the filing of a financing statement under the UCC,
PPSA or a similar filing under the respective foreign jurisdiction, and (ii) with respect to which
the US Administrative Agent has determined, in its reasonable discretion that the cost of
perfecting a security interest in such Property are excessive in relation to the value of the Lien
to be afforded thereby.

“Excluded Properties (Canada)” means all fee owned and leased real property of any Credit
Party (other than Existing Mortgaged Properties).

“Excluded Properties (US)” means (a) all fee owned and leased real property of any Credit
Party (other than Existing Mortgaged Properties), (b) any Properties owned by any Foreign
Restricted Subsidiary, and (c) the “Excluded Collateral” as defined in the US Security Agreement.

“Excluded Taxes” means, with respect to any Lender Party or any other recipient of any
payment to be made by or on account of any obligation of any Borrower hereunder, (a) taxes imposed
on or measured by its overall net income (however denominated), and franchise taxes imposed on it
(in lieu of net income taxes), by the jurisdiction (or any political subdivision thereof) under the
laws of which such recipient is organized or in which its principal office is located or, in the
case of any Lender, in which its applicable Lending Office is located, (b) any branch profits taxes
imposed by the United States or any similar tax imposed by any other jurisdiction in which such
Borrower is located, (c) except as provided in the following sentence, in the case of a Foreign
Lender (other than an assignee pursuant to a request by a Borrower under Section 2.16), any
withholding tax that 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) or is attributable to such
Foreign Lender’s failure or inability (other than as a result of a Change in Law) to comply with
Section 2.15(d), except 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 the Applicable Borrower with respect to such withholding tax pursuant to Section 2.15,
and (d) any U.S. Federal withholding taxes that are imposed by FATCA. Notwithstanding anything to
the contrary contained in this definition, “Excluded Taxes” shall not include any withholding tax
imposed at any time on payments made by or on behalf of a Foreign Credit Party to any Lender Party
hereunder or under any other Credit Document, provided that such Lender, such
Administrative Agent and such Issuing Lender shall have complied with Section 2.15(d) and Section
2.15(f), as applicable.

“Existing HY Debt” means the Debt evidenced by the 8.0% Senior, Unsecured Notes issued by
the Company on December 6, 2006 with a face value of $650,000,000 and having a stated maturity at
December 15, 2016.

“Existing Mortgaged Properties” means the real properties that are intended to be
encumbered under mortgages executed and delivered in connection with the Restated Agreement and in
effect on the Effective Date but excluding any such properties which are located in any area
designated as a “flood hazard area” under the Flood Insurance Rate Map published by the Federal
Emergency Management Agency (or any successor agency) and which would be required to be covered
under flood insurance by Regulation H of the Federal Reserve Board or Part 22 to Title 12 of the
Code of Federal Regulations in compliance with the National Flood Insurance Program as set forth in
the Flood Disaster Protection Act of 1973.

“Existing US Letters of Credit” means the letters of credit issued by the US Issuing Lender
(in its individual capacity or as agent for Wells Fargo Capital Finance as the issuing lender under
the Restated

-18-

 

Agreement) under the Restated Agreement and which have not been terminated or expired and returned
to the US Issuing Lender as of the Effective Date, which include the letters of credit identified
on Schedule IV attached hereto.

“Facility” means the US Facility or the Canadian Facility.

“FATCA” means Section 1471 through 1474 of the Code, as of the date of this Agreement (or
any amended version that is substantively comparable) and any regulations or official
interpretations thereof.

“Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average
of the rates on overnight Federal funds transactions with members of the Federal Reserve System
arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York
on the Business Day next succeeding such day; provided that (a) if such day is not a
Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the
next preceding Business Day as so published on the next succeeding Business Day and (b) if no such
rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day
shall be the average rate charged to the US Administrative Agent (in its individual capacity) on
such day on such transactions as determined by the US Administrative Agent.

“Federal Reserve Board” means the Board of Governors of the Federal Reserve System or any
of its successors.

“Fee Letter” means that certain engagement and fee letter dated as of May 6, 2011 between
the Company and Wells Fargo Securities, LLC.

“Felderhoff Assets” means the assets owned by Texas CES, Inc. and related to the Felderhoff
division of such Person.

“Financial Statements” means, for any period, (a) for purposes of financial statements
delivered pursuant to Section 5.2(a)(i), the consolidated and consolidating financial statements of
the Company and its consolidated Subsidiaries, including statements of income, retained earnings,
changes in equity and cash flow for such period as well as a balance sheet as of the end of such
period, and (b) for all other purposes, the consolidated and consolidating financial statements of
the Company and its consolidated Restricted Subsidiaries, including statements of income, retained
earnings, changes in equity and cash flow for such period as well as a balance sheet as of the end
of such period, in each case, all prepared in accordance with GAAP.

“First Tier Foreign Subsidiary” means any Foreign Subsidiary the Equity Interests of which
are held directly by the US Borrower or a Domestic Subsidiary.

“Foreign Credit Party” means any Credit Party that is a Foreign Subsidiary of the Company.

“Foreign Currency” means a currency other than Dollars.

“Foreign Currency Equivalent” means, at any time, with respect to any amount denominated in
Dollars, the equivalent amount thereof in the applicable Foreign Currency as determined by the
Applicable Administrative Agent or the Applicable Issuing Lender, as the case may be, at such time
on the basis of the Exchange Rate (determined in respect of the most recent Computation Date) for
the purchase of such Foreign Currency with Dollars.

-19-

 

“Foreign Lender” means, with respect to any Borrower, any Lender that is organized under
the laws of a jurisdiction other than that in which such Borrower is resident for tax purposes.
For purposes of this definition, the United States, each State thereof and the District of Columbia
shall be deemed to constitute a single jurisdiction.

“Foreign Proceeds” means casualty insurance proceeds or condemnation proceeds received by a
Foreign Restricted Subsidiary on account of a casualty or condemnation event in connection with any
assets of Foreign Restricted Subsidiary or any other Foreign Restricted Subsidiary of the Company.

“Foreign Restricted Subsidiary” means any Restricted Subsidiary of a Borrower that is a
Foreign Subsidiary.

“Foreign Subsidiary” means any Subsidiary of a Person that is not a Domestic Subsidiary.

“Foreign Subsidiary Guarantor” means each Foreign Restricted Subsidiary listed on Part A of
Schedule 4.11, and each other Foreign Restricted Subsidiary of the Canadian Borrower that is or
becomes a party to the Canadian Guaranty.

“Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to
any Issuing Lender, such Defaulting Lender’s Applicable Percentage of the outstanding Letter of
Credit Obligations with respect to Letters of Credit issued by such Issuing Lender other than
Letter of Credit Obligations as to which such Defaulting Lender’s participation obligation has been
reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof, and (b)
with respect to any Swingline Lender, such Defaulting Lender’s Applicable Percentage of outstanding
Swingline Advances made by the Swingline Lender other than Swingline Advances as to which such
Defaulting Lender’s participation obligation has been reallocated to other Lenders.

“Fund” means any Person (other than a natural 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 of its business.

“GAAP” means United States generally accepted accounting principles as in effect from time
to time, applied on a basis consistent with the requirements of Section 1.3.

“Governmental Authority” means the government of the United States or any other nation, or
of any political subdivision thereof, whether state 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).

“Guarantors” means any Person that now or hereafter executes a Guaranty or a joinder or
supplement to a Guaranty but excluding any Person that is released from any such Guaranty in
accordance with the terms hereof.

“Guaranties” means, collectively, the US Guaranty and the Canadian Guaranty.

“Hazardous Substance” means any substance or material identified as such pursuant to CERCLA
and those regulated under any other Environmental Law, including without limitation pollutants,
contaminants, petroleum, petroleum products, radionuclides, and radioactive materials.

-20-

 

“Hazardous Waste” means any substance or material regulated or designated as such pursuant
to any Environmental Law, including without limitation, pollutants, contaminants, flammable
substances and materials, explosives, radioactive materials, oil, petroleum and petroleum products,
chemical liquids and solids, polychlorinated biphenyls, asbestos, toxic substances, and similar
substances and materials.

“Hedging Arrangement” means a hedge, call, swap, collar, floor, cap, option, forward sale
or purchase or other contract or similar arrangement (including any obligations to purchase or sell
any commodity or security at a future date for a specific price) which is entered into to reduce or
eliminate or otherwise protect against the risk of fluctuations in prices or rates, including
interest rates, foreign exchange rates, commodity prices and securities prices.

“HSBC” means HSBC Bank Canada.

“Increase Date” means the effective date of a Commitment Increase as provided in Section
2.1(f).

“Increasing Lender” shall have the meaning assigned to such term in Section 2.1(f).

“Indemnified Taxes” means Taxes other than Excluded Taxes.

“Indemnitees” has the meaning specified in Section 9.1.

“Insurance Premium Debt” means Debt arising from the financing of insurance premium so long
as (a) such Debt shall not be in excess of the amount of the unpaid cost of, and shall be incurred
only to defer the cost of, such insurance for the underlying term of such insurance policy, (b) any
unpaid amount of such Debt is fully cancelled upon termination of the underlying insurance policy,
and (c) the aggregate outstanding principal amount of such Debt does not exceed $15,000,000.

“Interest Expense” means, for any period and with respect to the Company, total interest
expense net of interest income, letter of credit fees and other fees and expenses incurred by the
US Borrower and its consolidated Restricted Subsidiaries in connection with any Debt for such
period (other than the upfront fees paid pursuant to any of the Lender Parties on the Effective
Date), whether paid or accrued (including that attributable to obligations which have been or
should be, in accordance with GAAP, recorded as Capital Leases), including, without limitation, all
commissions, discounts, and other fees and charges owed with respect to letters of credit and
bankers’ acceptance financing, fees owed with respect to the Obligations, and net costs under Hedge
Arrangements, all as determined in conformity with GAAP.

“Interest Period” means for each Eurocurrency Advance comprising part of the same
Borrowing, the period commencing on the date of such Eurocurrency Advance is made or deemed made
and ending on the last day of the period selected by the Applicable Borrower pursuant to the
provisions below and Section 2.6, and thereafter, each subsequent period commencing on the last day
of the immediately preceding Interest Period and ending on the last day of the period selected by
the Applicable Borrower pursuant to the provisions below and Section 2.6. The duration of each
such Interest Period shall be one, three, or six months, in each case as the Applicable Borrower
may select, provided that:

     (a) Interest Periods commencing on the same date for Advances comprising part of the same
Borrowing shall be of the same duration;

     (b) whenever the last day of any Interest Period would otherwise occur on a day other than a
Business Day, the last day of such Interest Period shall be extended to occur on the next
succeeding Business Day, provided that if such extension would cause the last day of such
Interest Period to occur in

-21-

 

the next following calendar month, the last day of such Interest Period shall occur on the
next preceding Business Day;

     (c) any Interest Period which begins on the last Business Day of a calendar month (or on a day
for which there is no numerically corresponding day in the calendar month at the end of such
Interest Period) shall end on the last Business Day of the calendar month in which it would have
ended if there were a numerically corresponding day in such calendar month; and

     (d) no Borrower may select any Interest Period for any Advance which ends after the Maturity
Date.

“Inventory” of any Person means all inventory now owned or hereafter acquired by such
Person, wherever located and whether or not in transit, which is held for sale; provided,
that Inventory shall not include raw materials, work in process or supplies or materials consumed
in the business of such Person; and provided further that, purchased items shall be
considered Inventory and not raw materials if such purchased items could be resold in their
existing condition as finished goods without requiring further modification.

“ISP” means, with respect to any Letter of Credit, the “International Standby Practices
1998” published by the Institute of International Banking Law & Practice (or such later version
thereof as may be in effect at the time of issuance).

“Issuing Lender” means US Issuing Lender or Canadian Issuing Lender.

“ITA” means the Income Tax Act (Canada), as amended, and any successor thereto, and any
regulations promulgated thereunder.

“Legal Requirement” means any law, statute, ordinance, decree, requirement, order,
judgment, rule, treaty, code, administrative or judicial precedents or authorities, regulation (or
official interpretation of any of the foregoing) of, and the terms of any license, authorization or
permit issued by, any Governmental Authority, including, but not limited to, Regulations T, U and
X.

“Lender Parties” means Lenders, the Issuing Lenders, the Swingline Lenders and the
Administrative Agents.

“Lenders” means the US Lenders and the Canadian Lenders.

“Lending Office” means, as to any Lender, the office or offices of such Lender described as
such in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may
from time to time notify the Applicable Borrower and the Applicable Administrative Agent.

“Letter of Credit” means a US Letter of Credit or a Canadian Letter of Credit.

“Letter of Credit Application” means a US Letter of Credit Application or a Canadian Letter
of Credit Application.

“Letter of Credit Document” means a US Letter of Credit Document or a Canadian Letter of
Credit Document.

“Letter of Credit Extension” means a US Letter of Credit Extension or the Canadian Letter
of Credit Extension.

-22-

 

“Letter of Credit Obligations” means the US Letter of Credit Obligations and the Canadian
Letter of Credit Obligations.

“Lien” means any mortgage, lien, pledge, charge, deed of trust, security interest, or
encumbrance to secure or provide for the payment of any obligation of any Person, whether arising
by contract, operation of law, or otherwise (including the interest of a vendor or lessor under any
conditional sale agreement, Capital Lease, or other title retention agreement).

“Liquid Investments” means (a) readily marketable direct full faith and credit obligations
of the United States or obligations unconditionally guaranteed by the full faith and credit of the
United States; (b) commercial paper issued by (i) any Lender or any Affiliate of any Lender or (ii)
any commercial banking institutions or corporations rated at least P-1 by Moody’s or A-1 by S&P;
(c) certificates of deposit, time deposits, and bankers’ acceptances issued by (i) any of the
Lenders or (ii) any other commercial banking institution which is a member of the Federal Reserve
System and has a combined capital and surplus and undivided profits of not less than
$250,000,000.00 and rated Aa by Moody’s or AA by S&P; (d) repurchase agreements which are entered
into with any of the Lenders or any major money center banks included in the commercial banking
institutions described in clause (c) and which are secured by readily marketable direct full faith
and credit obligations of the government of the United States or any agency thereof; (e)
investments in any money market fund which holds investments substantially of the type described in
the foregoing clauses (a) through (d); and (f) other investments made through the US Administrative
Agent or its Affiliates and approved by the US Administrative Agent. All the Liquid Investments
described in clauses (a) through (d) above shall have maturities of not more than 365 days from the
date of issue.

“Liquidity” means, as of a date of determination, the sum of (a) an amount equal to (i) the
aggregate US Commitments in effect at such time, minus (ii) US Outstandings, plus
(b) readily and immediately available cash held in deposit accounts of any US Credit Party (other
than the Cash Collateral Accounts); provided that, such deposit accounts and the funds therein
shall be unencumbered and free and clear of all Liens and other third party rights other than a
Lien in favor of the US Administrative Agent pursuant to Security Documents and Liens permitted
pursuant to Section 6.2(i).

“Majority Lenders” means, as of the date of determination (a) with respect to the
Facilities as a whole and for purposes of declaring the Obligations due and payable pursuant to
Section 7.2, and for all purposes after the Obligations become due and payable pursuant to Section
7.2 or 7.3 or all of the Commitments shall have expired or terminated, two or more Lenders holding
at least 51% of the aggregate Maximum Exposure Amount; (b) with respect to the US Facility, the US
Majority Lenders; and (c) with respect to the Canadian Facility, the Canadian Majority Lenders;
provided that, (i) in any event, if there are two or more Lenders, the Maximum Exposure
Amount of any Defaulting Lender shall be excluded for purposes of making a determination of
Majority Lenders unless all Lenders are Defaulting Lenders, and (ii) for purposes of this
definition, Letter of Credit Exposure which is not reallocated or Cash Collateralized in accordance
with Section 2.18 shall be deemed to be held by the Lender that is the Applicable Issuing Lender.

“Material Adverse Change” means a material adverse change (a) in the business, condition
(financial or otherwise), or results of operations of the Company and its Restricted Subsidiaries,
taken as a whole; (b) on the validity or enforceability of this Agreement or any of the other
Credit Document; or (c) on the Company’s or any other Credit Party’s ability to perform its
obligations under this Agreement, any Note, the Guaranties or any other Credit Document.

“Maturity Date” means the earlier of (a) June 13, 2016 and (b) the earlier termination in
whole of the Commitments pursuant to Section 2.1(d) or Article VII.

-23-

 

“Maximum Exposure Amount” means, at any time for each Lender, the sum of (a) the unfunded
US Commitment and Canadian Commitment held by such Lender at such time, if any, plus (b) the Total
Outstandings held by such Lender at such time (with the aggregate amount of such Lender’s risk
participation and funded participation in the Letter of Credit Obligations and Swingline Advances
being deemed “held” by such Lender for purposes of this definition).

“Maximum Rate” means the maximum nonusurious interest rate under applicable Legal
Requirement.

“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto which is a
nationally recognized statistical rating organization.

“Multiemployer Plan” means a “multiemployer plan” as defined in Section 4001(a)(3) of ERISA
to which the Company or any member of the Controlled Group is making or accruing an obligation to
make contributions.

“Net Income” means, for any period and with respect to any Person, the net income for such
period for such Person after taxes as determined in accordance with GAAP, excluding, however, (a)
extraordinary items, including (i) any net non-cash gain or loss during such period arising from
the sale, exchange, retirement or other disposition of capital assets (such term to include all
fixed assets and all securities) other than in the ordinary course of business, and (ii) any
write-up or write-down of assets and (b) the cumulative effect of any change in GAAP. For the
avoidance of doubt, in determining net income, interest income shall be applied to increase income
or decrease interest expense but not both.

“Net Tangible Assets” means (a) the consolidated net book value of all assets of a Person
minus (b) the consolidated net book value of all intangible assets of such Person.

“Net Worth” means, with respect to the Company and as of the date of its determination, the
excess of the consolidated assets of the Company and its consolidated Restricted Subsidiaries over
the sum of the consolidated liabilities of the Company and its consolidated Restricted Subsidiaries
and the non-controlling interests of the Company and its consolidated Restricted Subsidiaries, as
determined in accordance with GAAP.

“Non-Consenting Lender” has the meaning specified in Section 2.16(b).

“Nonordinary Course Asset Sales” means, any Disposition of Property made by the Company or
any Restricted Subsidiary (a) of any division of the Company or any Restricted Subsidiary, (b) of
the Equity Interest in a Restricted Subsidiary by the Company or any other Restricted Subsidiary or
(c) of any assets of the Company or any Restricted Subsidiary, whether in a transaction or related
series of transactions, outside the ordinary course of business.

“Notes” means the US Notes, the Canadian Notes, the Canadian Swingline Notes, and the US
Swingline Notes.

“Notice of Borrowing” means (a) for the US Facility, a notice of borrowing signed by the US
Borrower in substantially the same form as Exhibit C or such other form as shall be reasonably
approved by the US Administrative Agent, and (b) for the Canadian Facility, a notice of borrowing
signed by the Canadian Borrower in such form as shall be reasonably approved by the Canadian
Administrative Agent.

“Notice of Continuation or Conversion” means (a) for the US Facility, a notice of
continuation or conversion signed by the US Borrower in substantially the same form as Exhibit D or
such other form as shall be reasonably approved by the US Administrative Agent, and (b) for the
Canadian Facility, a notice

-24-

 

of continuation or conversion signed by the Canadian Borrower in such form as shall be reasonably
approved by the Canadian Administrative Agent.

“Obligations” means all principal, interest, fees, reimbursements, indemnifications, and
other amounts now or hereafter owed by any Credit Party to any Lender, Swingline Lender, Issuing
Lender, or Administrative Agent under this Agreement and the Credit Documents, including, the
Letter of Credit Obligations, all interest and fees that accrue after the commencement by or
against any Credit Party of any proceeding under any Debtor Relief Laws naming such Person as the
debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such
proceeding, and any increases, extensions, and rearrangements of any of the foregoing obligations
under any amendments, supplements, and other modifications of the documents and agreements creating
those obligations.

“OFAC” means The Office of Foreign Assets Control of the U.S. Department of the Treasury.

“Other Taxes” means 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 Credit Document or from the execution, delivery or enforcement of, or otherwise with respect
to, this Agreement or any other Credit Document.

“Overnight Rate” means, for any day, (a) with respect to any amount denominated in Dollars,
the lesser of (i) the Federal Funds Rate and (ii) an overnight rate determined by the Applicable
Administrative Agent, the Applicable Issuing Lender, or Applicable Swingline Lender, as the case
may be, in accordance with banking industry rules on interbank compensation, and (b) with respect
to any amount denominated in an Foreign Currency, the rate of interest per annum at which overnight
deposits in the applicable Foreign Currency, in an amount approximately equal to the amount with
respect to which such rate is being determined, would be offered for such day by a branch or
Affiliate of the Applicable Administrative Agent in the applicable offshore interbank market for
such currency to major banks in such interbank market.

“Participant” has the meaning assigned to such term in Section 9.6.

“Participating Member State” means each state so described in any EMU Legislation.

“Patriot Act” means the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law
October 26, 2001)).

“PBGC” means the Pension Benefit Guaranty Corporation or any entity succeeding to any or
all of its functions under ERISA.

“Permitted Debt” has the meaning set forth in Section 6.1.

“Permitted Distribution Amount” means, as of any date of determination, an amount equal to
(a) $50,000,000 plus (b) 50% of the sum of the Company’s positive, consolidated Net Income
for all fiscal quarters that have ended after the Effective Date but prior to such date of
determination minus (c) 100% of the sum of the Company’s consolidated net loss for all
fiscal quarters that have ended after the Effective Date but prior to such date of determination.

“Permitted Investments” has the meaning set forth in Section 6.3.

“Permitted Liens” has the meaning set forth in Section 6.2.

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“Person” means any natural person, partnership, corporation (including a business trust),
joint stock company, trust, limited liability company, unlimited liability company, limited
liability partnership, unincorporated association, joint venture, or other entity, or Governmental
Authority, or any trustee, receiver, custodian, or similar official.

“Plan” means an employee benefit plan (other than a Multiemployer Plan) maintained for
employees of the Company or any member of the Controlled Group and covered by Title IV of ERISA or
subject to the minimum funding standards under Section 412 of the Code.

“PPSA” means the Personal Property Security Act (Alberta), as amended from time to time,
and any other similar legislation of any Canadian province or territory.

“Prime Rate” means the per annum rate of interest established from time to time by the US
Administrative Agent at its principal office as its prime rate, which rate may not be the lowest
rate of interest charged by the US Administrative Agent to its customers.

“Property” of any Person means any property or assets (whether real, personal, or mixed,
tangible or intangible) of such Person.

“Registers” has the meaning set forth in Section 9.6(b).

“Regulations T, U, and X” means Regulations T, U, and X of the Federal Reserve Board, as
each is from time to time in effect, and all official rulings and interpretations thereunder or
thereof.

“Related Parties” means, with respect to any Person, such Person’s Affiliates and the
partners, directors, officers, employees, agents, trustees, administrators, managers, advisors and
representatives of such Person and of such Person’s Affiliates.

“Release” shall have the meaning set forth in CERCLA or under any other Environmental Law.

“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA (other
than any such event not subject to the provision for 30-day notice to the PBGC under the
regulations issued under such section).

“Response” shall have the meaning set forth in CERCLA or under any other Environmental Law.

“Restricted Entity” means (a) each Borrower and (b) each Restricted Subsidiary.

“Restricted Payment” means, with respect to any Person, (a) any direct or indirect dividend
or distribution (whether in cash, securities or other Property) or any direct or indirect payment
of any kind or character (whether in cash, securities or other Property) in consideration for or
otherwise in connection with any retirement, purchase, redemption or other acquisition of any
Equity Interest of such Person, or any options, warrants or rights to purchase or acquire any such
Equity Interest of such Person or (b) principal or interest payments (in cash, Property or
otherwise) on, or redemptions of, subordinated debt of such Person; provided that the term
“Restricted Payment” shall not include any dividend or distribution payable solely in Equity
Interests of such Person, or warrants, options or other rights to purchase such Equity Interests.

“Restricted Subsidiary” means (a) each Subsidiary of the Company on the Effective Date
other than the Unrestricted Subsidiaries identified and noted on Schedule 4.11 as “Unrestricted
Subsidiaries” (unless such Unrestricted Subsidiaries are subsequently designated as a Restricted
Subsidiary pursuant to the

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terms of Section 5.11) and (b) each other Subsidiary of the Company that is not designated as an
Unrestricted Subsidiary pursuant to Section 5.11.

“Same Day Funds” means (a) with respect to disbursements and payments in Dollars,
immediately available funds, and (b) with respect to disbursements and payments in an Foreign
Currency, same day or other funds as may be determined by the Applicable Administrative Agent or
Applicable Issuing Lender, as the case may be, to be customary in the place of disbursement or
payment for the settlement of international banking transactions in the relevant Foreign Currency.

“Sanctioned Entity” means (a) a country or a government of a country, (b) an agency of the
government of a country, (c) an organization directly or indirectly controlled by a country or its
government, (d) a Person resident in a country, in each case, that is subject to a country
sanctions program administered and enforced by OFAC.

“Sanctioned Person” means a person named on the list of Specially Designated Nationals
maintained by OFAC.

“Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002.

“S&P” means Standard & Poor’s Ratings Service, a division of The McGraw-Hill Companies,
Inc., or any successor thereof which is a nationally recognized statistical rating organization.

“Schedule I Bank” means a bank that is a Canadian chartered bank listed on Schedule I under
the Bank Act (Canada).

“Schedule II Bank” means a bank that is a Canadian chartered bank listed on Schedule II
under the Bank Act (Canada).

“Schedule II/III Reference Banks” means HSBC and such other Schedule II Banks and/or
Schedule III Banks as are agreed to from time to time by the Canadian Borrower and the Canadian
Administrative Agent; provided that there shall be no more than three Schedule II/III Reference
Banks at any time.

“Schedule III Bank” means a bank that is a Canadian bank listed on Schedule III under the
Bank Act (Canada).

“SEC” means the Securities and Exchange Commission, or any Governmental Authority
succeeding to any of its principal functions.

“Secured Obligations” means (a) the Obligations, (b) the Banking Services Obligations owing
by US Credit Parties, and (c) all obligations of any US Credit Party owing to Swap Counterparties
under any Hedging Arrangements.

“Secured Parties” means, collectively, the US Secured Parties and the Canadian Secured
Parties.

“Securities Laws” means the Securities Act of 1933, the Securities Exchange Act of 1934,
Sarbanes-Oxley and the applicable accounting and auditing principles, rules, standards and
practices promulgated, approved or incorporated by the SEC or the Public Company Accounting
Oversight Board, as each of the foregoing may be amended and in effect on any applicable date
hereunder.

“Security Agreements” means, collectively, the US Security Agreement and the Canadian
Security Agreement.

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“Security Documents” means the Security Agreements, the US Pledge Agreement, the US
Mortgages and any and all other instruments, documents or agreements, now or hereafter executed by
any Credit Party or any other Person to secure the Secured Obligations.

“Senior Debt Leverage Ratio” means, as of the end of any fiscal quarter, the ratio of (a)
all secured Debt (other than Insurance Premium Debt and Debt under Hedging Arrangements) of the
Company and its consolidated Restricted Subsidiaries as of the last day of such fiscal quarter to
(b) the consolidated EBITDA for the Company and its consolidated Restricted Subsidiaries for the
twelve month period then ended.

“Solvent” means, as to any Person, on the date of any determination (a) the fair value of
the Property of such Person is greater than the total amount of debts and other liabilities
(including without limitation, contingent liabilities) of such Person, (b) the present fair salable
value of the assets of such Person is not less than the amount that will be required to pay the
probable liability of such Person on its debts and other liabilities (including, without
limitation, contingent liabilities) as they become absolute and matured, (c) such Person is able to
realize upon its assets and pay its debts and other liabilities (including, without limitation,
contingent liabilities) as they mature in the normal course of business, (d) such Person does not
intend to, and does not believe that it will, incur debts or liabilities (including, without
limitation, contingent liabilities) beyond such Person’s ability to pay as such debts and
liabilities mature, (e) such Person is not engaged in, and is not about to engage in, business or a
transaction for which such Person’s Property would constitute unreasonably small capital, and (f)
such Person has not transferred, concealed or removed any Property with intent to hinder, delay or
defraud any creditor of such Person.

“Sterling” and “£” mean the lawful currency of the United Kingdom.

“Subject Lender” has the meaning specified in Section 2.16(b).

“Subsidiary” means, with respect to any Person (the “parent”) at any date, any
other 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, as well as any Person, a majority of whose outstanding Voting Securities
(other than directors’ qualifying shares) shall at any time be owned by such parent or one or more
Subsidiaries of such parent. Unless otherwise specified, all references herein to a “Subsidiary”
or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Company.

“Swap Counterparty” means a Lender or an Affiliate of a Lender that has entered into a
Hedging Arrangement with a Borrower.

“Swingline Advance” means a US Swingline Advance or a Canadian Swingline Advance.

“Swingline Lender” means the US Swingline Lender or the Canadian Swingline Lender.

“TARGET Day” means any day on which the Trans-European Automated Real-time Gross Settlement
Express Transfer (TARGET) payment system (or, if such payment system ceases to be operative, such
other payment system (if any) determined by the Applicable Administrative Agent to be a suitable
replacement) is open for the settlement of payments in Euro.

“Tax Group” has the meaning set forth in Section 4.14.

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“Taxes” means 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.

“Termination Event” means (a) a Reportable Event with respect to a Plan, (b) the withdrawal
of a Borrower or any member of the Controlled Group from a Plan during a plan year in which it was
a “substantial employer” as defined in Section 4001(a)(2) of ERISA, (c) the filing of a notice of
intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section
4041(c) of ERISA, (d) the institution of proceedings to terminate a Plan by the PBGC, or (e) any
other event or condition which constitutes grounds under Section 4042 of ERISA for the termination
of, or the appointment of a trustee to administer, any Plan.

“Total Debt Leverage Ratio” means, as of the end of any fiscal quarter, the ratio of (a)
all Debt (other than Insurance Premium Debt and Debt under Hedging Arrangements) of the Company and
its consolidated Restricted Subsidiaries as of the last day of such fiscal quarter to (b) the
consolidated EBITDA for the Company and its consolidated Restricted Subsidiaries for the twelve
month period then ended.

“Total Outstandings” means the aggregate US Outstandings and aggregate Canadian
Outstandings.

“Type” has the meaning set forth in Section 1.4.

“UCC” means the Uniform Commercial Code as in effect in the State of New York from time to
time.

“United States” means the United States of America.

“Unrestricted Subsidiaries” means (a) each Subsidiary listed on Schedule 4.11 as an
Unrestricted Subsidiary, in each case, unless and until such Subsidiary is designated as a
Restricted Subsidiary under Section 5.11, and (b) any Subsidiary of the Company that has been
designated as an Unrestricted Subsidiary in compliance with Section 5.11.

“US Administrative Agent” means Wells Fargo in its capacity as agent for the Lenders
pursuant to Article VIII and any successor agent pursuant to Section 8.6.

“US Advance” means an advance by a US Lender to the US Borrower as a part of a Borrowing
pursuant to Section 2.1(a) and refers to either a US Base Rate Advance or a Eurocurrency Advance.
Each US Advance denominated in a Foreign Currency and made to the US Borrower shall be a
Eurocurrency Advance.

“US Base Rate Advance” means a US Advance in Dollars that bears interest as provided in
Section 2.10(a).

“US Borrowing” means a borrowing consisting of simultaneous US Advances of the same Type
made by the US Lenders pursuant to Section 2.1(a) or Converted by each US Lender to US Advances of
a different Type pursuant to Section 2.6(b).

“US Cash Collateral Account” means a special cash collateral account pledged to the US
Administrative Agent containing cash deposited pursuant to the terms hereof to be maintained with
the US Administrative Agent in accordance with the terms hereof.

“US Collateral” means (a) all “Collateral”, “Pledged Collateral”, “Pledged Accounts” and
“Mortgaged Property” (as defined in each of the US Mortgages, the US Security Agreements, the US
Pledge

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Agreements, as applicable) or similar terms used in the US Security Documents, and (b) all amounts
contained in the US Borrower’s and its Domestic Restricted Subsidiaries’ bank accounts. The US
Collateral shall not include any Excluded Properties (US).

“US Commitment” means, for each Lender, the obligation of such Lender to advance to US
Borrower the amount set opposite such Lender’s name on Schedule II as its US Commitment, or if such
Lender has entered into any Assignment and Assumption, set forth for such Lender as its US
Commitment in the applicable Register, as such amount may be reduced, increased or reallocated
pursuant to Section 2.1; provided that, after the Maturity Date, the US Commitment for each Lender
shall be zero; and provided further that, the initial aggregate amount of the US Commitments on the
Effective Date is $300,000,000.

“US Commitment Fee” means the fees required under Section 2.9(a).

“US Credit Parties” means the US Borrower and the US Guarantors.

“US Facility” means, collectively, (a) the revolving credit facility described in Section
2.1(a), (b) the swing line subfacility provided by the US Swingline Lender described in Section 2.4
and (c) the letter of credit subfacility provided by the US Issuing lender described in Section
2.3.

“US Guarantor” means any Person that now or hereafter executes a US Guaranty, including (a)
the US Borrower, (b) the Domestic Restricted Subsidiaries of the Company listed on Part B of
Schedule 4.11; and (c) each Domestic Restricted Subsidiary of the Company that becomes a guarantor
of all or a portion of the Secured Obligations and which has entered into either a joinder
agreement substantially in the form attached to the Guaranty or a new Guaranty but excluding any
Person that is released from any such Guaranty in accordance with the terms hereof.

“US Guaranty” means the US Guaranty, substantially in the form of Exhibit E among the US
Guarantors and the US Administrative Agent for the benefit of the Secured Parties.

“US Issuing Lender” means Wells Fargo, in its capacity as the US Lender that issues US
Letters of Credit pursuant to the terms of this Agreement.

“US Lenders” means Lenders having a US Commitment or if such US Commitments have been
terminated, Lenders that are owed US Advances.

“US Letter of Credit” means any standby or commercial letter of credit issued by the US
Issuing Lender for the account of the US Borrower or any US Guarantor pursuant to the terms of this
Agreement, in such form as may be agreed by the US Borrower, such US Guarantor and the US Issuing
Lender.

“US Letter of Credit Application” means the US Issuing Lender standard form letter of
credit application for standby or commercial letters of credit which has been executed by the US
Borrower, the applicable US Guarantor and accepted by the US Issuing Lender in connection with the
issuance of a US Letter of Credit.

“US Letter of Credit Documents” means all US Letters of Credit, US Letter of Credit
Applications and amendments thereof, and agreements, documents, and instruments entered into in
connection therewith or relating thereto.

“US Letter of Credit Exposure” means, at the date of its determination by the US
Administrative Agent, the aggregate outstanding undrawn amount of US Letters of Credit plus the
aggregate unpaid amount of all of the US Borrower’s payment obligations under drawn US Letters of
Credit.

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“US Letter of Credit Extension” means, with respect to any US Letter of Credit, the
issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

“US Letter of Credit Maximum Amount” means the aggregate amount of the US Commitments;
provided that, on and after the Maturity Date, the US Letter of Credit Maximum Amount shall
be zero.

“US Letter of Credit Obligations” means any obligations of the US Borrower under this
Agreement in connection with the US Letters of Credit.

“US Majority Lenders” means (a) at any time when there are more than two US Lenders, two or
more US Lenders holding at least 51% of the sum of the unutilized US Commitments plus the US
Outstandings (with the aggregate amount of each US Lender’s risk participation and funded
participation in the US Letter of Credit Obligations and US Swingline Advances being deemed “held”
by such US Lender for purposes of this definition), and (b) at any time when there are one or two
US Lenders, all US Lenders; provided that, (i) in any event, if there are two or
more US Lenders, the US Commitment of, and the portion of the Advances and Letter of Credit
Exposure held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a
determination of US Majority Lenders unless all US Lenders are Defaulting Lenders, and (ii) for
purposes of this definition, the Fronting Exposure of Defaulting Lenders as to US Letter of Credit
Exposure and Swingline Advances which has not been reallocated or Cash Collateralized in accordance
with Section 2.18 shall be deemed to be held by the Lender that is the US Issuing Lender and the
Lender that is the Swingline Lender.

“US Mortgages” means each mortgage or deed of trust in effect on the Effective Date and
executed by the Company or any Domestic Restricted Subsidiary of the Company to secure all or a
portion of the Secured Obligations.

“US Pledge Agreement” means the US Pledge Agreement, substantially in the form of Exhibit F
among the Company, any Domestic Restricted Subsidiary of the Company now or hereafter existing,
which owns any Equity Interest in another Person and made in favor of the US Administrative Agent.

“US Note” means a promissory note of the US Borrower payable to the order of a US Lender in
the amount of such Lender’s US Commitment, in the form provided by the US Administrative Agent and
acceptable to the US Borrower.

“US Outstandings” means, as of any date of determination, the sum of (a) the Dollar
Equivalent of the aggregate outstanding amount of all US Advances plus (b) the US Letter of
Credit Exposure plus (c) the aggregate outstanding amount of all US Swingline Advances.

“US Secured Parties” means the Lender Parties, the Banking Services Providers and Swap
Counterparties who are owed any Secured Obligations.

“US Security Agreement” means the US Security Agreement, substantially in the form of
Exhibit G, among the US Borrower, the Domestic Restricted Subsidiaries party thereto and the US
Administrative Agent for the benefit of the Secured Parties.

“US Security Documents” means the US Mortgages, US Security Agreement, the US Pledge
Agreement and each other Security Document to which the US Borrower or any Domestic Restricted
Subsidiary is a party and that purports to grant a Lien in the assets of any such Person in favor
of the US Administrative Agent for the benefit of the Secured Parties.

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“US Swingline Advance” means an advance by the US Swingline Lender to the US Borrower
pursuant to Section 2.4.

“US Swingline Amount” means, for the US Swingline Lender, $30,000,000; provided
that, on and after the Maturity Date, the US Swingline Amount shall be zero.

“US Swingline Borrowing” means the Borrowing consisting of a Swingline Advance made by the
US Swingline Lender pursuant to Section 2.4 or, if an AutoBorrow Agreement is in effect, any
transfer of funds pursuant to such AutoBorrow Agreement.

“US Swingline Lender” means Wells Fargo.

“US Swingline Note” means the promissory note made by the US Borrower payable to the order
of the US Swingline Lender in the form provided by the US Administrative Agent and acceptable to
the US Borrower.

“US Swingline Payment Date” means (a) if an AutoBorrow Agreement is in effect, the earliest
to occur of (i) the date required by such AutoBorrow Agreement, (ii) demand is made by the US
Swingline Lender and (iii) the Maturity Date, or (b) if an AutoBorrow Agreement is not in effect,
the earlier to occur of (i) three (3) Business Days after demand is made by the US Swingline Lender
if no Default exists, and otherwise upon demand by the US Swingline Lender and (ii) the Maturity
Date.

“Voting Securities” means (a) with respect to any corporation (including any unlimited
liability company), capital stock of such corporation having general voting power under ordinary
circumstances to elect directors of such corporation (irrespective of whether at the time stock of
any other class or classes shall have or might have special voting power or rights by reason of the
happening of any contingency), (b) with respect to any partnership, any partnership interest or
other ownership interest having general voting power to elect the general partner or other
management of the partnership or other Person, and (c) with respect to any limited liability
company, membership certificates or interests having general voting power under ordinary
circumstances to elect managers of such limited liability company.

“Wells Fargo” means Wells Fargo Bank, National Association.

Section 1.2 Computation of Time Periods. In this Agreement in the computation of periods
of time from a specified date to a later specified date, the word “from” means “from and including”
and the words “to” and “until” each means “to but excluding”.

Section 1.3 Accounting Terms; Changes in GAAP.

     (a) All accounting terms not specifically defined in this Agreement shall be construed in
accordance with GAAP applied on a consistent basis with those applied in the preparation of the
Financial Statements delivered to the Agent for the fiscal year ended December 31, 2010 and
delivered under Section 3.1(j), in any event, prepared in accordance with GAAP.

     (b) Unless otherwise indicated, all Financial Statements of the Company, all calculations for
compliance with covenants in this Agreement, all determinations of the Applicable Margin, and all
calculations of any amounts to be calculated under the definitions in Section 1.1 shall be based
upon the consolidated accounts of the Company and its consolidated Restricted Subsidiaries in
accordance with GAAP and consistent with the principles of consolidation applied in preparing the
Financial Statements referred to in Section 4.4. For the avoidance of doubt and unless otherwise
indicated herein, references in this Agreement or in any other Credit Document to the Company’s
consolidated financial statements,

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financial position, financial condition, liabilities, etc. refer to the consolidated financial
statements, financial position, financial condition, liabilities, etc. of the Company and its
properly consolidated Restricted Subsidiaries (or subset thereof if expressly provided herein)
which eliminate offsetting intercompany transactions.

     (c) If at any time any change in GAAP would affect the computation of any financial ratio or
requirement set forth in any Credit Document, and either the Company or the Majority Lenders shall
so request, the Administrative Agents, the Lenders and the Company shall negotiate in good faith to
amend such ratio or requirement to preserve the original intent thereof in light of such change in
GAAP (subject to the approval of the Company and the Majority Lenders); provided
that, until so amended, (i) such ratio or requirement shall continue to be computed in
accordance with GAAP as in effect prior to such change therein and (ii) the Company shall provide
to the Administrative Agents and the Lenders financial statements and other documents required
under this Agreement or as reasonably requested hereunder setting forth a reconciliation between
calculations of such ratio or requirement made before and after giving effect to such change in
GAAP.

     (d) Notwithstanding the foregoing clause (c), for purposes of this Agreement, any lease that
was treated as an operating lease under GAAP at the time it was entered into and that later becomes
a capital lease or has comparable treatment as a result of the change in GAAP that occurs upon a
conversion to International Financial Reporting Standards during the life of such lease, including
any renewals, or any lease that is entered into after the date hereof that would have been treated
as an operating lease under GAAP but that is treated as a capital lease under GAAP upon a
conversion to International Financial Reporting Standards during the life of this Agreement shall
be treated as an operating lease for all purposes under this Agreement including the treatment of
assets in calculating, among other things, EBITDA.

Section 1.4 Classes and Types of Advances. Advances are distinguished by “Class” and
“Type”. The “Class”, when used in reference to any Advance or Borrowing, refers to whether such
Advance, or the Advances comprising such Borrowing, are Canadian Advances, or US Advances. The
“Type”, when used in respect of any Advance or Borrowing, refers to the Rate (as defined below) by
reference to which interest on such Advances or on the Advances comprising such Borrowing is
determined. For purposes hereof, the term “Rate” shall include the Eurocurrency Rate, the Adjusted
Base Rate, the Canadian Base Rate, and the Discount Rate applicable to Bankers’ Acceptances and B/A
Equivalent Advances.

Section 1.5 Other Interpretive Provisions. With reference to this Agreement and each other
Credit Document, unless otherwise specified herein or in such other Credit Document:

     (a) 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, (i) any definition of or reference to any
agreement, instrument or other document 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 or
in any other Credit Document), (ii) any reference to any Person shall be construed to include such
Person’s successors and assigns, (iii) the words “herein,” “hereof” and
“hereunder,” and words of similar import when used in any Credit Document, shall be
construed to refer to such Credit Document in its entirety and not to any particular provision
thereof, (iv) all references in a Credit Document to Articles, Sections, Exhibits and Schedules
shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, the Credit
Document in which such references appear, (v) any reference to any law shall

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include all statutory and regulatory provisions consolidating, amending, replacing or
interpreting such law and any reference to any law or regulation shall, unless otherwise specified,
refer to such law or regulation as amended, modified or supplemented from time to time, and (vi)
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.

     (b) In the computation of periods of time from a specified date to a later specified date, the
word “from” means “from and including;” the words “to” and “until”
each mean “to but excluding;” and the word “through” means “to and
including.”

     (c) Section headings herein and in the other Credit Documents are included for convenience of
reference only and shall not affect the interpretation of this Agreement or any other Credit
Document.

     (d) The parties hereto, including the Canadian Borrower, hereby agree that any acknowledgment,
consent, direction, certification or other action which might otherwise be valid or effective only
if given or taken by all Borrowers, or by each Borrower acting singly, shall be valid and effective
if given or taken only by the Company, whether or not any such other Borrower joins therein. Any
notice, demand, consent, acknowledgement, direction, certification or other communication delivered
to the Company in accordance with the terms of this Agreement shall be deemed to have been
delivered to the Canadian Borrower.

Section 1.6 Exchange Rates; Currency Equivalents.

     (a) On each Computation Date, the US Administrative Agent shall determine the Exchange Rate as
of such Computation Date and deliver to the Canadian Administrative Agent in writing the Canadian
Dollar Equivalent amount of such determination on or prior to such Computation Date. The Exchange
Rate so determined shall become effective on the first Business Day after such Computation Date and
shall remain effective through the next succeeding Computation Date. Except for purposes of
financial statements delivered by Credit Parties hereunder or calculating financial covenants
hereunder or except as otherwise provided herein, the applicable amount of any currency (other than
Dollars) for purposes of the Credit Documents shall be such Dollar Equivalent amount as so
determined by the Applicable Administrative Agent or Canadian Issuing Lender, as applicable.

     (b) Wherever in this Agreement in connection with a Borrowing, conversion, continuation or
prepayment of a Eurocurrency Advance or the issuance, amendment or extension of a Canadian Letter
of Credit, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but
such Borrowing, Eurocurrency Advance or Letter of Credit is denominated in an Foreign Currency,
such amount shall be the relevant Foreign Currency Equivalent of such Dollar amount (rounded to the
nearest unit of such Foreign Currency, with 0.5 of a unit being rounded upward), as determined by
the Applicable Administrative Agent or the Canadian Issuing Lender, as the case may be.

Section 1.7 Agreed Currencies.

     (a) The Company may from time to time request that Eurocurrency Advances be made in a currency
other than those specifically listed in the definition of “Agreed Currency;” provided that such
requested currency is an Eligible Currency. In the case of any such request with respect to the
making of Eurocurrency Advances, such request shall be subject to the approval of the US
Administrative Agent and the US Lenders.

     (b) Any such request shall be made to the US Administrative Agent not later than 11:00 a.m.,
ten Business Days prior to the date of the desired Borrowing (or such other time or date as may be
agreed by

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the US Administrative Agent, in its sole discretion). The US Administrative Agent shall
promptly notify each US Lender thereof. Each US Lender shall notify the US Administrative Agent,
not later than 11:00 a.m., five Business Days after receipt of such request whether it consents, in
its sole discretion, to the making of such Eurocurrency Advance in such requested currency. Any
failure by a US Lender to respond to such request within the time period specified in the preceding
sentence shall be deemed to be a refusal by such Lender to permit Eurocurrency Advances to be made
in such requested currency. If the US Administrative Agent and all the US Lenders consent to
making Eurocurrency Advances in such requested currency, the US Administrative Agent shall so
notify the Company and such currency shall thereupon be deemed for all purposes to be an Agreed
Currency hereunder for purposes of any Borrowings of Eurocurrency Advances. If the US
Administrative Agent shall fail to obtain consent to any request for an additional currency under
this Section 1.7, the US Administrative Agent shall promptly so notify the Company.

     (c) If, after the designation of any currency as an Agreed Currency (including any Foreign
Currency listed in clause (b) — (d) of the definition of “Agreed Currency”), (i) currency control
or other exchange regulations are imposed in the country in which such currency is issued with the
result that different types of such currency are introduced, (ii) such currency, in the reasonable
determination of the US Administrative Agent, no longer qualifies as an “Eligible Currency” or
(iii) in the reasonable determination of the US Administrative Agent, a Dollar Equivalent of such
currency is not readily calculable, the US Administrative Agent shall promptly notify the US
Lenders and the Company, and such currency shall no longer be an Agreed Currency until such time as
the US Administrative Agent and the US Lenders, as provided herein, agree to reinstate such
currency as an Agreed Currency.

Section 1.8 Change of Currency.

     (a) Each obligation of the Borrowers to make a payment denominated in the national currency
unit of any member state of the European Union that adopts the Euro as its lawful currency after
the date hereof shall be redenominated into Euro at the time of such adoption (in accordance with
the EMU Legislation). If, in relation to the currency of any such member state, the basis of
accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent
with any convention or practice in the London interbank market for the basis of accrual of interest
in respect of the Euro, such expressed basis shall be replaced by such convention or practice with
effect from the date on which such member state adopts the Euro as its lawful currency; provided
that if any Borrowing in the currency of such member state is outstanding immediately prior to such
date, such replacement shall take effect, with respect to such Borrowing, at the end of the then
current Interest Period.

     (b) Each provision of this Agreement shall be subject to such reasonable changes of
construction as the US Administrative Agent may from time to time specify to be appropriate to
reflect the adoption of the Euro by any member state of the European Union and any relevant market
conventions or practices relating to the Euro.

     (c) Each provision of this Agreement also shall be subject to such reasonable changes of
construction as the US Administrative Agent may from time to time specify to be appropriate to
reflect a change in currency of any other country other than the United States and any relevant
market conventions or practices relating to the change in currency.

Section 1.9 Several Obligations of Borrowers. Subject to the US Borrower’s guaranty
obligations under the Canadian Guaranty, the obligations of the Borrowers to pay the principal of
and interest on each Credit Extension are several and not joint, and the Canadian Borrower and its
Foreign Subsidiaries shall not be liable for the payment obligations of the US Borrower hereunder.

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ARTICLE II

CREDIT FACILITIES

Section 2.1 Commitments.

     (a) US Commitment. Each US Lender severally agrees, on the terms and conditions set
forth in this Agreement, to make US Advances to the US Borrower from time to time on any Business
Day during the period from the Effective Date until the Maturity Date; provided that after
giving effect to such US Advances, the aggregate US Outstandings shall not exceed the aggregate US
Commitments in effect at such time. Within the limits of each US Lender’s US Commitment, the US
Borrower may from time to time borrow, prepay pursuant to Section 2.7, and reborrow under this
Section 2.1(a).

     (b) Canadian Commitment. From and after the Canadian Facility Effective Date, each
Canadian Lender severally agrees, on the terms and conditions set forth in this Agreement, to make
Canadian Advances to the Canadian Borrower from time to time on any Business Day during the period
from the Effective Date until the Maturity Date; provided that after giving effect to such
Canadian Advances, the aggregate Canadian Outstandings shall not exceed the aggregate Canadian
Commitments in effect at such time. Within the limits of each Canadian Lender’s Canadian
Commitment, the Canadian Borrower may from time to time borrow, prepay pursuant to Section 2.7, and
reborrow under this Section 2.1(b).

     (c) Reduction of Commitments.

(i) US Commitments. The US Borrower shall have the right, upon at least three
Business Days’ irrevocable notice to the US Administrative Agent, to terminate in whole or
reduce ratably in part the unused portion of the US Commitments; provided that each
partial reduction shall be in the aggregate amount of $1,000,000 and in integral multiples
of $1,000,000 in excess thereof; provided further that a notice of termination of the US
Commitments delivered by the US Borrower may state that such notice is conditioned upon the
effectiveness of other credit facilities, in which case such notice may be revoked by the US
Borrower (by notice to the US Administrative Agent on or prior to the specified effective
date) if such condition is not satisfied. Any reduction or termination of the US
Commitments pursuant to this Section shall be permanent, with no obligation of the US
Lenders to reinstate such US Commitments, and the Commitment Fees shall thereafter be
computed on the basis of the US Commitments, as so reduced

(ii) Canadian Commitments. The Canadian Borrower shall have the right, upon at
least three Business Days’ irrevocable notice to the Canadian Administrative Agent, to
terminate in whole or reduce ratably in part the unused portion of the Canadian Commitments;
provided that each partial reduction shall be in the aggregate amount of $1,000,000
and in integral multiples of $1,000,000 in excess thereof; provided further that a notice of
termination of the Canadian Commitments delivered by the Canadian Borrower may state that
such notice is conditioned upon the effectiveness of other credit facilities, in which case
such notice may be revoked by the Canadian Borrower (by notice to the Canadian
Administrative Agent on or prior to the specified effective date) if such condition is not
satisfied Any reduction or termination of the Canadian Commitments pursuant to this Section
shall be permanent, with no obligation of the Canadian Lenders to reinstate such Canadian
Commitments, and the Commitment Fees shall thereafter be computed on the basis of the
Canadian Commitments, as so reduced.

(iii) Defaulting Lender. The Applicable Borrower may terminate the unused amount of
the Commitments of any Defaulting Lender upon not less than 10 Business Days’ prior notice
to the Applicable Administrative Agent (which shall promptly notify the Lenders thereof),
and in such

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event the provisions of Section 2.18(a)(ii) will apply to all amounts thereafter paid by the
Applicable Borrower for the account of such Defaulting Lender under this Agreement (whether
on account of principal, interest, fees, indemnity or other amounts); provided that (i) no
Event of Default shall have occurred and be continuing, (ii) such termination shall not be
deemed to be a waiver or release of any claim that any Borrower, any Administrative Agent,
any Issuing Lender, any Swingline Lender or any Lender may have against such Defaulting
Lender, (iii) such termination must be of the entire amount of the Defaulting Lender’s
unused Commitments, and (iv) the Applicable Borrower shall have deposited with the
Applicable Administrative Agent into the Cash Collateral Account cash collateral in the
amount equal to such Defaulting Lender’s ratable share of the Dollar Equivalent of the
Letter of Credit Exposure (including any such portion thereof that has been reallocated
pursuant to Section 2.18).

     (d) Reallocation of Commitments. In connection with the designation of a Canadian
Borrower as provided in Section 2.17, HSBC Bank USA, N.A. hereby agrees with the US Borrower to
convert and reallocate all or any portion of its US Commitment into a Canadian Commitment so long
as (i) the sum of such Lender’s US Commitment and Canadian Commitment remains equal to the
aggregate amount of such Lender’s US Commitment and Canadian Commitment, as the case may be, prior
to such reallocation, (ii) the aggregate amount of all Canadian Commitments, after giving effect to
any reallocation, shall not exceed $30,000,000, and (iii) all of the conditions to the Canadian
Facility Effective Date set forth in Section 2.17 shall have been satisfied. Upon such
reallocation, participations by the US Lenders in the outstanding Letters of Credit and the Letter
of Credit Obligations and in the outstanding US Swingline Advances and the outstanding Advances of
the Lenders shall be automatically adjusted to give effect to such reallocation.

     (e) Existing Advances. Without any further action on the part of either Borrower or
the Lenders and so long as all conditions set forth in Section 3.1 and 3.2 have been met and only
if any “Advances” under, and as defined in, the Restated Agreement, are outstanding on the
Effective Date, the US Borrower hereby requests that, on the Effective Date, the US Lenders make
the US Advances (as Adjusted Base Rate Advances) in the necessary amount to, and apply the proceeds
of such US Advances to, (i) repay all outstanding “US Revolving Advances” under, and as defined in,
the Restated Agreement, (ii) pay all fees owing to the Lenders or the Administrative Agent as
required under the Fee Letter and (iii) pay such other fees, costs, and accounts detailed in the
initial Notice of Borrowing delivered to the Administrative Agent. On the Effective Date, all
Interest Periods under the Restated Agreement in respect of any “Eurocurrency Advances” (if any)
under, and as defined in, the Restated Agreement shall automatically be terminated (and the US
Borrower shall, on the Effective Date, also pay any amounts required under Section 2.12 of the
Restated Agreement). Without any further action on the part of either Borrower or the Lenders and
so long as all conditions set forth in Section 3.1 and 3.2 have been met, all outstanding “US
Swingline Advances” (if any) under and as defined in, the Restated Agreement are deemed to be
outstanding as US Swingline Advances hereunder.

     (f) Increase in Commitments.

(i) At any time prior to the Maturity Date, the Borrowers may effectuate up to two separate
increases in the aggregate Commitments (each such increase being a “Commitment
Increase”), by designating either one or more of the existing Lenders (each of which, in
its sole discretion, may determine whether and to what degree to participate in such
Commitment Increase) or one or more other banks or other financial institutions (reasonably
acceptable to the Applicable Administrative Agent and the Applicable Issuing Lender) that at
the time agree, in the case of any such bank or financial institution that is an existing
Lender to increase its US Commitment as such Lender shall so select (an “Increasing
Lender”) and, in the case of any other such bank or financial institution (an
“Additional Lender”), to become a party to this Agreement; provided,

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however, that (A) each Commitment Increase shall be of at least $50,000,000, (B) the
aggregate amount of all Commitment Increases shall not exceed $150,000,000, and (C) all
Commitments and Advances provided pursuant to a Commitment Increase shall be available on
the same terms as those applicable to the existing Commitments and Advances (other than with
respect to additional fees which may be as agreed to between the US Borrower and the
Increasing Lenders and/or Additional Lenders, as the case may be). The sum of the increases
in the Commitments of the Increasing Lenders plus the Commitments of the Additional Lenders
upon giving effect to a Commitment Increase shall not, in the aggregate, exceed the amount
of such Commitment Increase. The US Borrower shall provide prompt notice of any proposed
Commitment Increase pursuant to this clause (f) to the US Administrative Agent and the
applicable Class of Lenders. This Section 2.1(f) shall not be construed to create any
obligation on any of the Administrative Agents or any of the Lenders to advance or to commit
to advance any credit to any Borrower or to arrange for any other Person to advance or to
commit to advance any credit to any Borrower.

(ii) A Commitment Increase shall become effective upon (A) the receipt by the US
Administrative Agent of (1) an agreement in form and substance reasonably satisfactory to
the US Administrative Agent signed by the US Borrower, each Increasing Lender and each
Additional Lender, setting forth the US Commitments, if any, of each such Lender and setting
forth the agreement of each Additional Lender to become a party to this Agreement and to be
bound by all the terms and provisions hereof binding upon each Lender, and (2) such evidence
of appropriate authorization on the part of the US Borrower with respect to such Commitment
Increase as the US Administrative Agent may reasonably request, (B) the funding by each
Increasing Lender and Additional Lender of the Advances to be made by each such Lender to
effect the prepayment requirement set forth in Section 2.7(c)(iv), and (C) receipt by the US
Administrative Agent of a certificate of an authorized officer of the US Borrower stating
that, both before and after giving effect to such Commitment Increase, no Default has
occurred and is continuing, and that all representations and warranties made by the
Borrowers in this Agreement are true and correct in all material respects (except that such
materiality qualifier shall not be applicable to any representations and warranties that
already are qualified or modified by materiality in the text thereof), unless such
representation or warranty relates to an earlier date which remains true and correct as of
such earlier date.

(iii) Notwithstanding any provision contained herein to the contrary, from and after the
date of any Commitment Increase, all calculations and payments of interest on the Advances
shall take into account the actual US Commitment of each Lender and the principal amount
outstanding of each Advance made by such Lender during the relevant period of time.

Section 2.2 Evidence of Indebtedness.

     (a) The Advances and Letters of Credit made by each Lender, including any Swingline Lender,
shall be evidenced by one or more accounts or records maintained by such Lender or such Swingline
Lender and by the Applicable Administrative Agent with respect to the applicable Facility in the
ordinary course of business. The accounts or records maintained by Administrative Agents, the
applicable Lenders and the Swingline Lenders shall be conclusive absent manifest error of the
amount of the Advances and Letters of Credit made by such Lenders or such Swingline Lenders to the
Applicable Borrower and the interest and payments thereon. Any failure to so record or any error
in doing so shall not, however, limit or otherwise affect the obligation of the Applicable Borrower
hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict
between the accounts and records maintained by any Lender or any Swingline Lender and the accounts
and records of the Applicable Administrative Agent in respect of such matters, the accounts and
records of the Applicable Administrative Agent shall control in the absence of manifest error.
Upon the request of any Lender to a Borrower made through the

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Applicable Administrative Agent, such Borrower shall execute and deliver to such Lender or
such Swingline Lender (through the Applicable Administrative Agent) the applicable Note or Notes
which shall evidence such Lender’s Advances or Swingline Advances to such Borrower in addition to
such accounts or records. Each Lender may attach schedules to such Notes and endorse thereon the
date, Type (if applicable), amount, currency and maturity of its Advances or Swingline Advances and
payments with respect thereto.

     (b) In addition to the accounts and records referred to in subsection (a) above, each Lender,
Swingline Lender and Administrative Agent shall maintain in accordance with its usual practice
accounts or records evidencing the purchases and sales by such Lender of participations in Letters
of Credit and Swingline Advances. In the event of any conflict between the accounts and records
maintained by the Applicable Administrative Agent and the accounts and records of any Lender in
respect of such matters, the accounts and records of the Applicable Administrative Agent shall
control in the absence of manifest error.

     (c) Except for any B/A Advances (the compensation for which is set forth in Section 2.5), each
Advance shall bear interest from and including the date made on the outstanding principal balance
thereof as set forth in Section 2.10.

Section 2.3 Letters of Credit.

     (a) Commitment for Letters of Credit. Subject to the terms and conditions set forth
in this Agreement and in reliance upon the agreements of the other Lenders set forth in this
Section, (i) the US Issuing Lender agrees to, from time to time on any Business Day during the
period from the Effective Date until the Maturity Date, issue, increase or extend the expiration
date of, US Letters of Credit denominated in the Designated Currency for the account of the US
Borrower or a US Guarantor; and (ii) the Canadian Issuing Lender agrees to, from time to time on
any Business Day during the period from the Effective Date until the Maturity Date, issue, increase
or extend the expiration date of, Canadian Letters of Credit denominated in a Designated Currency
for the account of the Canadian Borrower or a Guarantor; provided that, in any event, no
Letter of Credit will be issued, increased, or extended:

(i) if such issuance, increase, or extension would cause the US Letter of Credit Exposure to
exceed the lesser of (A) the US Letter of Credit Maximum Amount and (B) an amount equal to
(1) the aggregate US Commitments in effect at such time minus (2) the aggregate US
Outstandings.

(ii) if such issuance, increase, or extension would cause the Canadian Letter of Credit
Exposure to exceed the lesser of (A) the Canadian Letter of Credit Maximum Amount and (B) an
amount equal to (1) the aggregate Canadian Commitments in effect at such time minus
(2) the aggregate Canadian Outstandings;

(iii) unless such Letter of Credit has an expiration date not later than 30 days prior to
the Maturity Date; provided that, (A) if the US Commitments are terminated in whole
pursuant to Section 2.1(c)(i), any US Letter of Credit may have an expiration date after the
then resulting Maturity Date if (1) the US Borrower shall deposit into the US Cash
Collateral Account cash in an amount equal to 103% of the US Letter of Credit Exposure or
(2) the US Borrower shall provide a replacement letter of credit (or other security)
reasonably acceptable to the US Administrative Agent, US Issuing Lender and the US Lenders
in an amount equal to 103% of the US Letter of Credit Exposure; and (B) if the Canadian
Commitments are terminated in whole pursuant to Section 2.1(c)(ii), any Canadian Letter of
Credit may have an expiration date after the then resulting Maturity Date if (1) the
Canadian Borrower shall deposit into the Canadian Cash

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Collateral Account cash in an amount equal to 103% of the Canadian Letter of Credit Exposure
or (2) the Canadian Borrower shall provide a replacement letter of credit (or other
security) reasonably acceptable to the Canadian Administrative Agent, Canadian Issuing
Lender and the Canadian Lenders in an amount equal to 103% of the Canadian Letter of Credit
Exposure;

(iv) unless such Letter of Credit is (A) a standby letter of credit, or (B) with the consent
of the Applicable Issuing Lender, a commercial letter of credit;

(v) unless such Letter of Credit is in form and substance acceptable to the Applicable
Issuing Lender in its sole discretion;

(vi) unless the Applicable Borrower has delivered to the Applicable Issuing Lender a
completed and executed applicable Letter of Credit Application; provided that, if the terms
of any Letter of Credit Application conflicts with the terms of this Agreement, the terms of
this Agreement shall control;

(vii) unless such Letter of Credit is governed by (A) the Uniform Customs and Practice for
Documentary Credits (2007 Revision), International Chamber of Commerce Publication No. 600,
or (B) the ISP, in either case, including any subsequent revisions thereof approved by a
Congress of the International Chamber of Commerce;

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

(ix) if the issuance, increase or extension of such Letter of Credit would violate one or
more policies of such Issuing Lender that are generally applicable to letters of credit;

(x) if such Letter of Credit supports the obligations of any Person in respect of (A) a
lease of real property, or (B) an employment contract if the Applicable Issuing Lender
reasonably determines that the Applicable Borrower’s obligation to reimburse any draws under
such Letter of Credit may be limited; or

(xi) if any Lender is at such time a Defaulting Lender hereunder, unless the Applicable
Issuing Lender has entered into satisfactory arrangements with the Applicable Borrower or
such Lender to eliminate such Issuing Lender’s Fronting Exposure with respect to such
Lender.

     (b) Requesting Letters of Credit. Each Letter of Credit Extension shall be made
pursuant to a Letter of Credit Application, or if applicable, amendments to such Letter of Credit
Applications, given by the Applicable Borrower to the Applicable Administrative Agent for the
benefit of the Applicable Issuing Lender by facsimile, in writing or by such other method as may be
accepted by the Applicable Issuing Lender from time to time, but in any event, not later than (i)
11:00 a.m. (Houston, Texas, time) on the

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third Business Day before the proposed date of the US Letter of Credit Extension and (ii)
11:00 a.m. (Calgary, Alberta Canada, time) on the third Business Day before the proposed date of
the Canadian Letter of Credit Extension. Each Letter of Credit Application, or if applicable,
amendments to such Letter of Credit Applications, shall be fully completed and shall specify the
information required therein. Each Letter of Credit Application, or if applicable, amendments to
such Letter of Credit Applications, shall be irrevocable and binding on the Applicable Borrower.
Subject to the terms and conditions hereof, the Applicable Issuing Lender shall (i) before 2:00
p.m. (Houston, Texas, time) on the date of such US Letter of Credit Extension and (ii) before 2:00
p.m. (Calgary, Alberta Canada, time) on the date of such Canadian Letter of Credit Extension, make
such Letter of Credit Extension to the beneficiary of such Letter of Credit.

     (c) Reimbursements for Letters of Credit; Funding of Participations.

(i) In accordance with the related Letter of Credit Application, the US Borrower with
respect to a US Letter of Credit and the Canadian Borrower with respect to Canadian Letters
of Credit, each agrees to pay on demand to Applicable Administrative Agent on behalf of the
Applicable Issuing Lender an amount equal to any amount paid by such Applicable Issuing
Lender under such Letter of Credit. Upon the Applicable Issuing Lender’s demand for payment
under the terms of a Letter of Credit Application, the Applicable Borrower may request that
such Borrower’s obligations to the Applicable Issuing Lender thereunder be satisfied with
the proceeds of (A) a US Base Rate Advance under the US Facility in the same amount with
respect to US Letters of Credit, (B) a Canadian Base Rate (C$) Advance in the same amount
with respect to Canadian Letters of Credit denominated in Canadian Dollars, and (C) a
Canadian Base Rate (US$) Advance in the same amount with respect to Canadian Letters of
Credit denominated in Dollars, (notwithstanding any minimum size or increment limitations on
individual Advances). If the Applicable Borrower does not make such request and does not
otherwise make the payments demanded by the Applicable Issuing Lender as required under this
Agreement or the applicable Letter of Credit Application, then the Applicable Borrower shall
be deemed for all purposes of this Agreement to have requested such US Advance, or such
Canadian Advance, as the case may be, in the same amount and the transfer of the proceeds
thereof to satisfy such Borrower’s obligations to Applicable Issuing Lender. The US
Borrower hereby unconditionally and irrevocably authorizes, empowers, and directs the US
Lenders to make such US Base Rate Advances, to transfer the proceeds thereof to the US
Issuing Lender in satisfaction of such obligations, and to record and otherwise treat such
payments as a US Base Rate Advance under the US Facility to the US Borrower. The Canadian
Borrower hereby unconditionally and irrevocably authorizes, empowers, and directs the
Canadian Lenders to make such Canadian Base Rate Advances, to transfer the proceeds thereof
to Canadian Issuing Lender in satisfaction of such obligations, and to record and otherwise
treat such payments as a Canadian Base Rate Advance to the Canadian Borrower. Each
Administrative Agent and each Lender may record and otherwise treat the making of such
Borrowings as the making of (1) a US Borrowing to the US Borrower under this Agreement as if
requested by the US Borrower with respect to US Letter of Credit Obligations and (2) a
Canadian Borrowing in the same Designated Currency as the applicable Canadian Letters of
Credit to the Canadian Borrower under this Agreement as if requested by the Canadian
Borrower with respect to Canadian Letter of Credit Obligations. Nothing herein is intended
to release any of any Borrower’s obligations under any Letter of Credit Application, but
only to provide an additional method of payment therefor. The making of any Borrowing under
this Section 2.3(c) shall not constitute a cure or waiver of any Default or Event of
Default, other than the payment Default or Event of Default which is satisfied by the
application of the amounts deemed advanced hereunder, caused by a Borrower’s failure to
comply with the provisions of this Agreement or the Letter of Credit Application.

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(ii) Each Lender (including the Lender acting as Issuing Lender) shall, upon notice from the
Applicable Administrative Agent that the Applicable Borrower has requested or is deemed to
have requested an Advance pursuant to Section 2.6 and regardless of whether (A) the
conditions in Section 3.2 have been met, (B) such notice complies with Section 2.6, or (C) a
Default exists, make funds available to the Applicable Administrative Agent for the account
of the Applicable Issuing Lender in an amount equal to such Lender’s Applicable Percentage
of the amount of such Advance not later than 1:00 p.m. (Houston, Texas, time or Calgary,
Alberta Canada, time, as applicable) on the Business Day specified in such notice by the
Applicable Administrative Agent, whereupon (i) each US Lender that so makes funds available
shall be deemed to have made a US Base Rate Advance under the US Facility to the US Borrower
in such amount, and (b) each Canadian Lender that so makes funds available shall be deemed
to have made a Canadian Base Rate (C$) Advance or Canadian Base Rate (US$) Advance, as
applicable, to the Canadian Borrower in such amount. The Applicable Administrative Agent
shall remit the funds so received to the Applicable Issuing Lender.

(iii) If any such Lender shall not have so made such Advance available to the Applicable
Administrative Agent pursuant to this Section 2.3, such Lender agrees to pay interest
thereon for each day from such date until the date such amount is paid at the lesser of (A)
the Overnight Rate for such day for the first three days and thereafter the interest rate
applicable to such US Base Rate Advances, or if applicable, the Canadian Base Rate Advances
and (B) the Maximum Rate. Whenever, at any time after the Applicable Administrative Agent
has received from any Lender such Lender’s Advance, the Applicable Administrative Agent
receives any payment on account thereof, the Applicable Administrative Agent will pay to
such Lender its participating interest in such amount (appropriately adjusted, in the case
of interest payments, to reflect the period of time during which such Lender’s Advance was
outstanding and funded), which payment shall be subject to repayment by such Lender if such
payment received by the Applicable Administrative Agent is required to be returned. Each
Lender’s obligation to make the Advances pursuant to this Section 2.3 shall be absolute and
unconditional and shall not be affected by any circumstance, including (1) any set-off,
counterclaim, recoupment, defense or other right which such Lender or any other Person may
have against any Issuing Lender, any Administrative Agent or any other Person for any reason
whatsoever; (2) the occurrence or continuance of a Default or the termination of the
Commitments; (3) any breach of this Agreement by a Borrower or any other Lender; or (4) any
other circumstance, happening or event whatsoever, whether or not similar to any of the
foregoing.

(iv) If at any time, the US Commitments shall have expired or been terminated while any US
Letter of Credit Exposure is outstanding, then each US Lender, at the sole option of the US
Issuing Lender, shall fund its participation in such US Letters of Credit in an amount equal
to such Lender’s Applicable Percentage of the unpaid amount of the US Borrower’s payment
obligations under drawn US Letters of Credit. If at any time, the Canadian Commitments
shall have expired or been terminated while any Canadian Letter of Credit Exposure is
outstanding, then each Canadian Lender, at the sole option of the Canadian Issuing Lender,
shall fund its participation in such Letters of Credit in an amount equal to such Lender’s
Applicable Percentage of the unpaid amount of the Canadian Borrower’s payment obligations
under drawn Canadian Letters of Credit. The Applicable Issuing Lender shall notify the
Applicable Administrative Agent, and in turn, the Applicable Administrative Agent shall
notify each such applicable Lender of the amount of such participation, and such Lender will
transfer to the Applicable Administrative Agent for the account of the Applicable Issuing
Lender on the next Business Day following such notice, in Same Day Funds, the amount of such
participation. At any time after an Applicable Issuing Lender has made a payment under any
Letter of Credit and has received from any Lender funding of its participation in respect of
such payment in accordance with this clause

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(iv), if the Applicable Administrative Agent receives for the account of such Applicable
Issuing Lender any payment in respect of the related Letter of Credit Exposure or interest
thereon (whether directly from a Borrower or otherwise, including proceeds of cash
collateral applied thereto by the Applicable Administrative Agent), the Applicable
Administrative Agent shall distribute to such Lender its Applicable Percentage thereof in
the same funds as those received by the Applicable Administrative Agent.

(v) If any payment received by the Applicable Administrative Agent for the account of any
Applicable Issuing Lender pursuant to this Section 2.3(c) is required to be returned under
any of the circumstances described in Section 9.13 (including pursuant to any settlement
entered into by such Issuing Lender in its discretion), each Lender shall pay to the
Applicable Administrative Agent for the account of such Applicable Issuing Lender its
Applicable Percentage thereof on demand of the Applicable Administrative Agent, plus
interest thereon from the date of such demand to the date such amount is returned by such
Lender, at a rate per annum equal to the Overnight Rate in effect from time to time. The
obligations of the Lenders under this clause shall survive the payment in full of the
Obligations and the termination of this Agreement.

     (d) Participations. Upon the date of the issuance or increase of a Letter of Credit
or the deemed issuance of the Existing US Letters of Credit under Section 2.3(j), (i) the US
Issuing Lender shall be deemed to have sold to each other US Lender and each other US Lender shall
have been deemed to have purchased from the US Issuing Lender a participation in the related US
Letter of Credit Obligations equal to such US Lender’s Applicable Percentage at such date, and (ii)
the Canadian Issuing Lender shall be deemed to have sold to each other Canadian Lender and each
other Canadian Lender shall have been deemed to have purchased from the Canadian Issuing Lender a
participation in the related Canadian Letter of Credit Obligations equal to such Canadian Lender’s
Applicable Percentage at such date, and, in either case, such sale and purchase shall otherwise be
in accordance with the terms of this Agreement. The Applicable Issuing Lender shall promptly
notify each such participant Lender by telex, telephone, or facsimile of each Letter of Credit
issued or increased and the actual dollar amount of such Lender’s participation in such Letter of
Credit.

     (e) Obligations Unconditional. The obligations of the US Borrower under this
Agreement in respect of each US Letter of Credit, and the obligations of the Canadian Borrower
under this Agreement in respect of each Canadian Letter of Credit, shall be unconditional and
irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all
circumstances, notwithstanding the following circumstances:

(i) any lack of validity or enforceability of any Letter of Credit Documents;

(ii) any amendment or waiver of or any consent to departure from any Letter of Credit
Documents;

(iii) the existence of any claim, set-off, defense or other right which any Restricted
Entity may have at any time against any beneficiary or transferee of such Letter of Credit
(or any Persons for whom any such beneficiary or any such transferee may be acting), any
Issuing Lender, any Lender or any other Person, whether in connection with this Agreement,
the transactions contemplated in this Agreement or in any Letter of Credit Documents or any
unrelated transaction;

(iv) any statement or any other document presented under such Letter of Credit proving to be
forged, fraudulent, invalid or insufficient in any respect or any statement therein being
untrue or

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inaccurate in any respect to the extent any Issuing Lender would not be liable therefor
pursuant to the following paragraph (g);

(v) payment by any Issuing Lender under such Letter of Credit against presentation of a
draft or certificate which does not comply with the terms of such Letter of Credit; or

(vi) any other circumstance or happening whatsoever, whether or not similar to any of the
foregoing;

provided, however, that nothing contained in this paragraph (e) shall be deemed to
constitute a waiver of any remedies of the Borrowers in connection with the Letters of Credit.

     (f) Prepayments of Letters of Credit. In the event that any US Letter of Credit shall
be outstanding or shall be drawn and not reimbursed after the Maturity Date, the US Borrower shall
pay to the US Administrative Agent an amount equal to 103% of the US Letter of Credit Exposure
allocable to such Letter of Credit to be held in the US Cash Collateral Account and applied in
accordance with paragraph (h) below. In the event that any Canadian Letter of Credit shall be
outstanding or shall be drawn and not reimbursed after the Maturity Date, the Canadian Borrower
shall pay to the Canadian Administrative Agent an amount equal to 103% of the Dollar Equivalent of
the Canadian Letter of Credit Exposure allocable to such Letter of Credit to be held in the
Canadian Cash Collateral Account and applied in accordance with paragraph (h) below.

     (g) Liability of Issuing Lenders. The US Borrower assumes all risks of the acts or
omissions of any beneficiary or transferee of any US Letter of Credit with respect to its use of
such Letter of Credit. The Canadian Borrower assumes all risks of the acts or omissions of any
beneficiary or transferee of any Canadian Letter of Credit with respect to its use of such Letter
of Credit. Neither Issuing Lender nor any of their respective officers or directors shall be liable
or responsible for:

(i) the use which may be made of any Letter of Credit or any acts or omissions of any
beneficiary or transferee in connection therewith;

(ii) the validity, sufficiency or genuineness of documents, or of any endorsement thereon,
even if such documents should prove to be in any or all respects invalid, insufficient,
fraudulent or forged;

(iii) payment by any Issuing Lender against presentation of documents which do not comply
with the terms of a Letter of Credit, including failure of any documents to bear any
reference or adequate reference to the relevant Letter of Credit; or

(iv) any other circumstances whatsoever in making or failing to make payment under any
Letter of Credit (INCLUDING AN ISSUING LENDER’S OWN NEGLIGENCE),

except that the Applicable Borrower shall have a claim against the Applicable Issuing Lender, and
the Applicable Issuing Lender shall be liable to, and shall promptly pay to, the Applicable
Borrower, to the extent of any direct, as opposed to consequential, damages suffered by such
Borrower which such Borrower proves were caused by (A) such Issuing Lender’s willful misconduct or
gross negligence in determining whether documents presented under a Letter of Credit comply with
the terms of such Letter of Credit, as determined in final, non-appealable judgment by a court of
competent jurisdiction or (B) such Issuing Lender’s willful failure to make lawful payment under
any Letter of Credit after the presentation to it of a draft and certificate strictly complying
with the terms and conditions of such Letter of Credit. In furtherance and not in limitation of
the foregoing, the Issuing Lenders may accept

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documents that appear on their face to be in order, without responsibility for further
investigation, regardless of any notice or information to the contrary.

     (h) Cash Collateral Account.

(i) If the US Borrower is required to deposit funds in the US Cash Collateral Account
pursuant to the terms hereof, then the US Borrower and the US Administrative Agent shall
establish the US Cash Collateral Account and the US Borrower shall execute any documents and
agreements, including the US Administrative Agent’s standard form assignment of deposit
accounts, that the US Administrative Agent requests in connection therewith to establish the
US Cash Collateral Account and grant the US Administrative Agent an Acceptable Security
Interest in such account and the funds therein. The US Borrower hereby pledges to the US
Administrative Agent and grants the US Administrative Agent a security interest in the US
Cash Collateral Account, whenever established, all funds held in the US Cash Collateral
Account from time to time, and all proceeds thereof as security for the payment of the
Secured Obligations.

(ii) If the Canadian Borrower is required to deposit funds in the Canadian Cash Collateral
Account pursuant to the terms hereof, then the Canadian Borrower and the Canadian
Administrative Agent shall establish the Canadian Cash Collateral Account and the Canadian
Borrower shall execute any documents and agreements, including the Canadian Administrative
Agent’s standard form assignment of deposit accounts, that the Canadian Administrative Agent
requests in connection therewith to establish the Canadian Cash Collateral Account and grant
the Canadian Administrative Agent an Acceptable Security Interest in such account and the
funds therein. The Canadian Borrower hereby pledges to the Canadian Administrative Agent
and grants the Canadian Administrative Agent a security interest in the Canadian Cash
Collateral Account, whenever established, all funds held in the Canadian Cash Collateral
Account from time to time, and all proceeds thereof as security for the payment of the
Canadian Obligations.

(iii) Funds held in the Cash Collateral Accounts shall be held as Cash Collateral for
obligations with respect to US Letters of Credit in the case of the US Cash Collateral
Account and the Canadian Letters of Credit in the case of the Canadian Cash Collateral
Account. Such funds shall be promptly applied by the Applicable Administrative Agent at the
request of the Applicable Issuing Lender to any reimbursement or other obligations under the
applicable Letters of Credit that exist or occur. To the extent that any surplus funds are
held in the US Cash Collateral Account above the US Letter of Credit Exposure during the
existence of an Event of Default the US Administrative Agent may (A) hold such surplus funds
in the US Cash Collateral Account as Cash Collateral for the Secured Obligations or (B)
apply such surplus funds to any Secured Obligations in any manner directed by the Majority
Lenders. To the extent that any surplus funds are held in the Canadian Cash Collateral
Account above the Canadian Letter of Credit Exposure during the existence of an Event of
Default the Canadian Administrative Agent may (A) hold such surplus funds in the Canadian
Cash Collateral Account as Cash Collateral for the Canadian Obligations or (B) apply such
surplus funds to any such Obligations in any manner directed by the Canadian Majority
Lenders. If no Default exists, the Administrative Agents shall release to the Applicable
Borrower at such Borrower’s written request any funds held in the applicable Cash Collateral
Account above the amounts required by 2.3(f), subject to the requirements of this Section
2.3(h) and Section 2.18.

(iv) Funds held in the US Cash Collateral Account shall be invested in Liquid Investments
maintained with, and under the sole dominion and control of, the US Administrative Agent or
in another investment if mutually agreed upon by the US Borrower and the US Administrative
Agent, but the US Administrative Agent shall have no other obligation to make any other

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investment of the funds therein. Funds held in the Canadian Cash Collateral Account shall
be invested in Liquid Investments maintained with, and under the sole dominion and control
of, the Canadian Administrative Agent or in another investment if mutually agreed upon by
the Canadian Borrower and the Canadian Administrative Agent, but the Canadian Administrative
Agent shall have no other obligation to make any other investment of the funds therein. The
Administrative Agents shall exercise reasonable care in the custody and preservation of any
funds held in the Cash Collateral Accounts and shall be deemed to have exercised such care
if such funds are accorded treatment substantially equivalent to that which such
Administrative Agent accords its own property, it being understood that neither
Administrative Agent shall have any responsibility for taking any necessary steps to
preserve rights against any parties with respect to any such funds.

     (i) Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of
Credit issued or outstanding hereunder is in support of any obligations of, or is for the account
of, a Subsidiary of the US Borrower, (i) the US Borrower shall be obligated to reimburse the US
Issuing Lender hereunder for any and all drawings under such Letter of Credit issued under the US
Facility by the US Issuing Lender and (ii) the Canadian Borrower shall be obligated to reimburse
the Canadian Issuing Lender hereunder for any and all drawings under such Letter of Credit issued
under the Canadian Facility by the Canadian Issuing Lender. The US Borrower hereby acknowledges
that the issuance of Letters of Credit for the account of its Subsidiaries inures to the benefit of
the US Borrower, and that the US Borrower’s business derives substantial benefits from the
businesses of such Subsidiaries. The Canadian Borrower hereby acknowledges that the issuance of
Letters of Credit for the account of its Subsidiaries inures to the benefit of the Canadian
Borrower, and that the Canadian Borrower’s business derives substantial benefits from the
businesses of such Subsidiaries.

     (j) Existing US Letters of Credit. The US Issuing Lender, the US Lenders and the US
Borrower agree that effective as of the Effective Date, the Existing US Letters of Credit shall be
deemed to have been issued and maintained under, and to be governed by the terms and conditions of,
this Agreement.

Section 2.4 Swingline Advances.

     (a) Facility. On the terms and conditions set forth in this Agreement, and if an
AutoBorrow Agreement is in effect, subject to the terms and conditions of such AutoBorrow Agreement
as to US Swingline Borrowings: (i) the US Swingline Lender shall, from time-to-time on any Business
Day from the Effective Date until the last Business Day occurring before the Maturity Date, make US
Swingline Advances in Dollars to the US Borrower in an aggregate principal amount not to exceed the
US Swingline Amount at any time, and (ii) the Canadian Swingline Lender shall, from time-to-time on
any Business Day from the Effective Date until the last Business Day occurring before the Maturity
Date, make Canadian Swingline Advances in Canadian Dollars to the Canadian Borrower in an aggregate
principal amount not to exceed the Canadian Swingline Amount outstanding at any time;
provided that, in any event, (A) after giving effect to such Swingline Advance, the US
Outstandings shall not exceed the aggregate US Commitments in effect at such time and the Canadian
Outstandings shall not exceed the aggregate Canadian Commitments in effect at such time, (B) no
Swingline Advance shall be made by either Swingline Lender if the conditions set forth in Section
3.2 have not been met as of the date of such Swingline Advance (it being agreed by the Borrowers
that the giving of the applicable Notice of Borrowing and the acceptance by the Applicable Borrower
of the proceeds of such Swingline Advance shall constitute a representation and warranty by the
Borrowers that on the date of such Swingline Advance such conditions have been met), and (C) with
respect to a US Swingline Borrowing, if an AutoBorrow Agreement is in effect, such additional terms
and conditions of such AutoBorrow Agreement shall have been satisfied, and in the event that any of
the terms of this Section 2.4(a) conflict with such AutoBorrow Agreement, the terms of the
AutoBorrow Agreement shall govern and control. The

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Borrowers agree that the giving of the applicable Notice of Borrowing and the acceptance by
the Applicable Borrower of the proceeds of such Swingline Advance shall constitute a representation
and warranty by the such Borrower that on the date of such Swingline Advance the conditions set
forth in Section 3.2 have been met. No Lender shall have any rights or obligations under any
AutoBorrow Agreement, but each US Lender shall have the obligation to purchase and fund risk
participations in the US Swingline Advances and to refinance US Swingline Advances as provided
below and as provided in Section 2.18.

     (b) Evidence of Indebtedness. The indebtedness of the US Borrower to the US Swingline
Lender resulting from US Swingline Advances, and the indebtedness of the Canadian Borrower to the
Canadian Swingline Lender resulting from Canadian Swingline Advances shall be evidenced as set
forth in Section 2.2.

     (c) Prepayment. Within the limits expressed in this Agreement, amounts advanced
pursuant to Section 2.4(a) may from time to time be borrowed, prepaid without penalty, and
reborrowed. If the amount of aggregate outstanding amount of US Swingline Advances ever exceeds
the US Swingline Amount, the US Borrower shall, upon receipt of written notice of such condition
from the US Swingline Lender and to the extent of such excess, prepay to the US Swingline Lender
outstanding principal of the US Swingline Amount such that such excess is eliminated. If the
Canadian Dollar Equivalent amount of the aggregate outstanding amount of Canadian Swingline
Advances ever exceeds the Canadian Swingline Amount, the Canadian Borrower shall, upon receipt of
written notice of such condition from the Canadian Swingline Lender and to the extent of such
excess, prepay to the Canadian Swingline Lender outstanding principal of the Canadian Swingline
Amount such that such excess is eliminated. If an AutoBorrow Agreement is in effect, each
prepayment of a US Swingline Borrowing shall be made as provided in such AutoBorrow Agreement.

     (d) Refinancing of Swingline Advances.

(i) With respect to the US Swingline Advances and the interest, premium, fees, and other
amounts owed by the US Borrower to the US Swingline Lender in connection with the US
Swingline Advances, the US Borrower agrees to pay to the US Swingline Lender such amounts
when due and payable to the US Swingline Lender under the terms of this Agreement and, if an
AutoBorrow Agreement is in effect, in accordance with the terms of such AutoBorrow
Agreement. The US Swingline Lender at any time in its sole and absolute discretion may
request, on behalf of the US Borrower (which hereby irrevocably authorizes such Swingline
Lender to so request on its behalf), that each US Lender make a US Base Rate Advance under
the US Facility in an amount equal to such Lender’s Applicable Percentage of the amount of
US Swingline Advances then outstanding. The US Administrative Agent shall promptly forward
notice of such request to the US Borrower and the US Lenders, and each US Lender shall,
regardless of whether (A) the conditions in Section 3.2 have been met, (B) such notice
complies with Section 2.6, or (C) a Default exists, make available such US Lender’s ratable
share of such US Borrowing to the US Administrative Agent in Same Day Funds, and the US
Administrative Agent shall promptly deliver the proceeds thereof to the US Swingline Lender
for application to such amounts owed to the US Swingline Lender. The US Swingline Lender
shall furnish the US Borrower with a copy of the applicable Notice of Borrowing promptly
after delivering such notice to the US Administrative Agent. The US Administrative Agent
and each US Lender may record and otherwise treat the making of such US Borrowings as the
making of a US Borrowing to the US Borrower under this Agreement as if requested by the US
Borrower. Nothing herein is intended to release the US Borrower’s obligations with respect
to US Swingline Advances, but only to provide an additional method of payment therefor. The
making of any Borrowing under this Section 2.4 shall not constitute a cure or waiver of any
Default or Event of Default, other than the

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payment Default or Event of Default which is satisfied by the application of the amounts
deemed advanced hereunder, caused by the US Borrower’s failure to comply with the provisions
of this Agreement or any AutoBorrow Agreement.

(ii) With respect to the Canadian Swingline Advances and the interest, premium, fees, and
other amounts owed by the Canadian Borrower to the Canadian Swingline Lender in connection
with the Canadian Swingline Advances, the Canadian Borrower agrees to pay to the Canadian
Swingline Lender such amounts when due and payable to the Canadian Swingline Lender under
the terms of this Agreement. The Canadian Swingline Lender at any time in its sole and
absolute discretion may request, on behalf of the Canadian Borrower (which hereby
irrevocably authorizes such Swingline Lender to so request on its behalf), that each
Canadian Lender make a Canadian Base Rate (C$) Advance under the Canadian Facility in an
amount equal to such Lender’s Applicable Percentage of the amount of Canadian Swingline
Advances then outstanding. The Canadian Administrative Agent shall promptly forward notice
of such request to the Canadian Borrower and the Canadian Lenders, and each Canadian Lender
shall, regardless of whether (A) the conditions in Section 3.2 have been met, (B) such
notice complies with Section 2.6, or (C) a Default exists, make available such Canadian
Lender’s ratable share of such Canadian Borrowing to the Canadian Administrative Agent in
Same Day Funds, and the Canadian Administrative Agent shall promptly deliver the proceeds
thereof to the Canadian Swingline Lender for application to such amounts owed to the
Canadian Swingline Lender. The Canadian Swingline Lender shall furnish the Canadian
Borrower with a copy of the applicable Notice of Borrowing promptly after delivering such
notice to the Canadian Administrative Agent. The Canadian Administrative Agent and each
Canadian Lender may record and otherwise treat the making of such Canadian Borrowings as the
making of a Canadian Borrowing to the Canadian Borrower under this Agreement as if requested
by the Canadian Borrower. Nothing herein is intended to release the Canadian Borrower’s
obligations with respect to Canadian Swingline Advances, but only to provide an additional
method of payment therefor.

(iii) If at any time, the US Commitments shall have expired or been terminated while any US
Swingline Advance is outstanding, each US Lender, at the sole option of the US Swingline
Lender, shall either (A) notwithstanding the expiration or termination of the US
Commitments, make a US Advance as a US Base Rate Advance, or (B) be deemed, without further
action by any Person, to have purchased from the US Swingline Lender a participation in such
US Swingline Advance, in either case in an amount equal to the product of such US Lender’s
Applicable Percentage times the outstanding aggregate principal balance of the US Swingline
Advances made by the US Swingline Lender. The US Swingline Lender shall notify the US
Administrative Agent, and in turn, the US Administrative Agent shall notify each such US
Lender of the amount of such US Advance or participation, and such US Lender will transfer
to the US Administrative Agent for the account of the US Swingline Lender on the next
Business Day following such notice, in Same Day Funds, the amount of such US Advance or
participation. If any such US Lender shall not have so made its US Advance or its
percentage participation available to the US Administrative Agent pursuant to this Section
2.4, such US Lender agrees to pay interest thereon for each day from such date until the
date such amount is paid at the lesser of (A) the Overnight Rate for such day for the first
three days and thereafter the interest rate applicable to the US Advance and (B) the Maximum
Rate. Whenever, at any time after the US Administrative Agent has received from any US
Lender such Lender’s US Advance or participating interest in a US Swingline Advance, the US
Administrative Agent receives any payment on account thereof, the US Administrative Agent
will pay to such Lender its participating interest in such amount (appropriately adjusted,
in the case of interest payments, to reflect the period of time during which such Lender’s
US Advance or participating interest was outstanding and funded), which payment shall be
subject to repayment by such Lender if such payment received by the US

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Administrative Agent is required to be returned. Each US Lender’s obligation to make the US
Advance or purchase such participating interests pursuant to this Section 2.4 shall be
absolute and unconditional and shall not be affected by any circumstance, including (1) any
set-off, counterclaim, recoupment, defense or other right which such Lender or any other
Person may have against the US Swingline Lender, the US Administrative Agent or any other
Person for any reason whatsoever; (2) the occurrence or continuance of a Default or the
termination of the US Commitments; (3) any breach of this Agreement by the US Borrower or
any other Lender; or (4) any other circumstance, happening or event whatsoever, whether or
not similar to any of the foregoing. Each US Swingline Advance, once so participated by any
US Lender, shall cease to be a US Swingline Advance with respect to that amount for purposes
of this Agreement, but shall continue to be a US Base Rate Advance.

(iv) If at any time, the Canadian Commitments shall have expired or been terminated while
any Canadian Swingline Advance is outstanding, each Canadian Lender, at the sole option of
the Canadian Swingline Lender, shall either (A) notwithstanding the expiration or
termination of the Canadian Commitments, make a Canadian Advance as a Canadian Base Rate
(C$) Advance, or (B) be deemed, without further action by any Person, to have purchased from
the Canadian Swingline Lender a participation in such Canadian Swingline Advance, in either
case in an amount equal to the product of such Canadian Lender’s Applicable Percentage times
the outstanding aggregate principal balance of the Canadian Swingline Advances made by the
Canadian Swingline Lender. The Canadian Swingline Lender shall notify the Canadian
Administrative Agent, and in turn, the Canadian Administrative Agent shall notify each such
Canadian Lender of the amount of such Canadian Advance or participation, and such Canadian
Lender will transfer to the Canadian Administrative Agent for the account of the Canadian
Swingline Lender on the next Business Day following such notice, in Same Day Funds, the
amount of such Canadian Advance or participation. If any such Canadian Lender shall not
have so made its Canadian Advance or its percentage participation available to the Canadian
Administrative Agent pursuant to this Section 2.4, such Canadian Lender agrees to pay
interest thereon for each day from such date until the date such amount is paid at the
lesser of (A) the Overnight Rate for such day for the first three days and thereafter the
interest rate applicable to the Canadian Advance and (B) the Maximum Rate. Whenever, at any
time after the Canadian Administrative Agent has received from any Canadian Lender such
Lender’s Canadian Advance or participating interest in a Canadian Swingline Advance, the
Canadian Administrative Agent receives any payment on account thereof, the Canadian
Administrative Agent will pay to such Lender its participating interest in such amount
(appropriately adjusted, in the case of interest payments, to reflect the period of time
during which such Lender’s Canadian Advance or participating interest was outstanding and
funded), which payment shall be subject to repayment by such Lender if such payment received
by the Canadian Administrative Agent is required to be returned. Each Canadian Lender’s
obligation to make the Canadian Advance or purchase such participating interests pursuant to
this Section 2.4 shall be absolute and unconditional and shall not be affected by any
circumstance, including (1) any set-off, counterclaim, recoupment, defense or other right
which such Lender or any other Person may have against the Canadian Swingline Lender, the
Canadian Administrative Agent or any other Person for any reason whatsoever; (2) the
occurrence or continuance of a Default or the termination of the Canadian Commitments; (3)
any breach of this Agreement by the Canadian Borrower or any other Lender; or (4) any other
circumstance, happening or event whatsoever, whether or not similar to any of the foregoing.
Each Canadian Swingline Advance, once so participated by any Canadian Lender, shall cease
to be a Canadian Swingline Advance with respect to that amount for purposes of this
Agreement, but shall continue to be a Canadian Base Rate (C$) Advance.

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(v) The US Borrower hereby unconditionally and irrevocably authorizes, empowers,
and directs the US Swingline Lender to make such requests for US Borrowings on behalf of the
US Borrower in accordance with this Section, and the US Lenders to make US Advances to the
US Administrative Agent for the benefit of the US Swingline Lender in satisfaction of such
obligations. The Canadian Borrower hereby unconditionally and irrevocably authorizes,
empowers, and directs the Canadian Swingline Lender to make such requests for Canadian
Borrowings on behalf of the Canadian Borrower in accordance with this Section, and the
Canadian Lenders to make Canadian Advances to the Canadian Administrative Agent for the
benefit of the Canadian Swingline Lender in satisfaction of such obligations. The making of
any Borrowing under this Section 2.4 shall not constitute a cure or waiver of any Default or
Event of Default, other than the payment Default or Event of Default which is satisfied by
the application of the amounts deemed advanced hereunder, caused by the Applicable
Borrower’s failure to comply with the provisions of this Agreement or any AutoBorrow
Agreement.

     (e) Repayment of Participations.

(i) At any time after any Lender has purchased and funded a risk participation in a
Swingline Advance, if the Applicable Swingline Lender receives any payment on account of
such Swingline Advance, the Applicable Swingline Lender will distribute to such Lender its
Applicable Percentage of such payment (appropriately adjusted, in the case of interest
payments, to reflect the period of time during which such Lender’s risk participation was
funded) in the same funds as those received by the Applicable Swingline Lender.

(ii) If any payment received by the Applicable Swingline Lender in respect of principal or
interest on any Swingline Advance is required to be returned by such Swingline Lender under
any of the circumstances described in Section 9.13 (including pursuant to any settlement
entered into by such Swingline Lender in its discretion), each Lender shall pay to the
Applicable Swingline Lender its Applicable Percentage thereof on demand of the Applicable
Administrative Agent, plus interest thereon from the date of such demand to the date such
amount is returned, at a rate per annum equal to the applicable Overnight Rate. The
Applicable Administrative Agent will make such demand upon the request of the Applicable
Swingline Lender. The obligations of the Lenders under this clause shall survive the
payment in full of the Obligations and the termination of this Agreement.

     (f) Interest for Account of Swingline Lender. The US Swingline Lender shall be
responsible for invoicing the US Borrower for interest on the US Swingline Advances. The Canadian
Swingline Lender shall be responsible for invoicing the Canadian Borrower for interest on the
Canadian Swingline Advances. Until each Lender funds its Advances or risk participation pursuant
to this Section to refinance such Lender’s Applicable Percentage of the applicable Swingline
Advances, interest in respect of such Applicable Percentage shall be solely for the account of the
Applicable Swingline Lender.

     (g) Payments Directly to Swingline Lender. The US Borrower shall make all payments of
principal and interest in respect of the US Swingline Advances directly to the US Swingline Lender.
The Canadian Borrower shall make all payments of principal and interest in respect of the Canadian
Swingline Advances directly to the Canadian Swingline Lender.

     (h) Method of Borrowing. If an AutoBorrow Agreement is in effect, each US Swingline
Borrowing shall be made as provided in such AutoBorrow Agreement. Otherwise, and except as
provided in the clause (c) above, each request for a Swingline Advance shall be made pursuant to
telephone notice to the Applicable Swingline Lender given no later than 11:00 a.m. (Houston, Texas
time or Calgary, Alberta Canada time) on the date of the proposed Swingline Advance, promptly
confirmed by a completed and

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executed Notice of Borrowing facsimiled to the Applicable Administrative Agent and the
Applicable Swingline Lender. The Applicable Swingline Lender will promptly make such Swingline
Advance available to the Applicable Borrower at the Applicable Borrower’s account with the
Applicable Administrative Agent.

     (i) Defaulting Lender. Notwithstanding anything herein to the contrary, (A) so long
as any US Lender is a Defaulting Lender, the US Swingline Lender shall not be required to fund any
US Swingline Advance unless it is satisfied that it will have no Fronting Exposure after giving
effect to such US Swingline Advance, and (B) so long as any Canadian Lender is a Defaulting Lender,
the Canadian Swingline Lender shall not be required to fund any Canadian Swingline Advance unless
it is satisfied that it will have no Fronting Exposure after giving effect to such Canadian
Swingline Advance.

Section 2.5 Bankers’ Acceptances.

     (a) Subject to the terms and conditions of this Agreement, the Canadian Borrower may request a
Borrowing denominated in Canadian Dollars by presenting drafts for acceptance and, if applicable,
purchase as B/As by the Canadian Lenders.

     (b) No Contract Period with respect to a B/A to be accepted and, if applicable, purchased as
an Advance shall extend beyond the Maturity Date. All B/A Borrowings shall be denominated in
Canadian Dollars.

     (c) To facilitate availment of the B/A Advances, the Canadian Borrower hereby appoints each
Canadian Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile
or mechanical signature as and when deemed necessary by such Canadian Lender, blank forms of B/As
in the form requested by such Canadian Lender. The Canadian Borrower recognizes and agrees that
all B/As signed and/or endorsed on its behalf by a Canadian Lender shall bind the Canadian Borrower
as fully and effectually as if signed in the handwriting of and duly issued by the proper signing
officers of the Canadian Borrower. Each Canadian Lender is hereby authorized to issue such B/As
endorsed in blank in such face amounts as may be determined by such Canadian Lender;
provided that the aggregate amount thereof is equal to the aggregate amount of B/As
required to be accepted and purchased by such Canadian Lender. No Canadian Lender shall be liable
for any damage, loss or other claim arising by reason of any loss or improper use of any such
instrument except the gross negligence or willful misconduct of such Canadian Lender or its
officers, employees, agents or representatives as determined by a court of competent jurisdiction
by final and non-appealable judgment. Each Canadian Lender shall maintain a record with respect to
B/As (i) voided by it for any reason, (ii) accepted and purchased by it hereunder and (iii)
canceled at their respective maturities. Each Canadian Lender further agrees to retain such
records in the manner and for the statutory periods provided in the various provincial or federal
statutes and regulations which apply to such Canadian Lender. On request by or on behalf of the
Canadian Borrower, a Canadian Lender shall cancel all forms of B/A which have been pre-signed or
pre-endorsed on behalf of the Canadian Borrower and which are held by such Canadian Lender and are
not required to be issued in accordance with the Canadian Borrower’s irrevocable notice. At the
discretion of a Canadian Lender, B/As to be accepted by such Canadian Lender may be issued in the
form of “Depository Bills” within the meaning of the Depository Bills and Notes Act (Canada) and
deposited with the Canadian Depository for Securities Limited (“CDS”) and may be made
payable to “CDS & Co.” or in such other name as may be acceptable to CDS and thereafter dealt with
in accordance with the rules and procedures of CDS, consistent with the terms of this Agreement and
the Depository Bills and Notes Act (Canada). All Depository Bills so issued shall be governed by
the provisions of this Section 2.5.

     (d) Drafts of the Canadian Borrower to be accepted as B/As hereunder shall be signed as set
forth in this Section 2.5. Notwithstanding that any Person whose signature appears on any B/A may
no longer be

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an authorized signatory for any of the Canadian Lenders or the Canadian Borrower at the date
of issuance of a B/A, such signature shall nevertheless be valid and sufficient for all purposes as
if such authority had remained in force at the time of such issuance and any such B/A so signed
shall be binding on the Canadian Borrower.

     (e) Promptly following receipt of a notice of borrowing, continuation or conversion of B/As,
the Canadian Administrative Agent shall so advise the Canadian Lenders and shall advise each
Canadian Lender of the aggregate face amount of the B/As to be accepted by it and the applicable
Contract Period (which shall be identical for all Canadian Lenders). The aggregate face amount of
the B/As to be accepted by a Canadian Lender shall be in an integral multiple of C$100,000 and such
face amount shall be in each Canadian Lender’s Applicable Percentage of such Canadian Borrowing,
and each such Canadian Borrowing shall be no less than $1,000,000; provided, that the
Canadian Administrative Agent may, in its sole discretion, increase or reduce any Canadian Lender’s
portion of such B/A to the nearest C$100,000.

     (f) The Canadian Borrower may specify in a notice of borrowing or conversion or continuation
pursuant to Section 2.6(a) or Section 2.6(b), respectively, that it desires that any B/As requested
by such notice be purchased by the Canadian Lenders, in which case the Canadian Lenders shall
purchase, or arrange the purchase of, each B/A from the Canadian Borrower at the Discount Rate for
such Canadian Lender applicable to such B/A accepted by it and provide to the Canadian
Administrative Agent the Discount Proceeds for the account of the Canadian Borrower. The
Acceptance Fee payable by the Canadian Borrower to a Canadian Lender under Section 2.10(f) in
respect of each B/A accepted by such Canadian Lender shall be set off against the Discount Proceeds
payable by such Canadian Lender under this Section 2.5.

     (g) Each Canadian Lender may at any time and from time to time hold, sell, rediscount or
otherwise dispose of any or all B/As accepted and purchased by it.

     (h) If a Canadian Lender notifies the Canadian Administrative Agent in writing that it is
unable to accept Bankers’ Acceptances, such Canadian Lender will, instead of accepting and, if
applicable, purchasing Bankers’ Acceptances, make an advance (a “B/A Equivalent Advance”)
to the Canadian Borrower in the amount and for the same term as the draft that such Canadian Lender
would otherwise have been required to accept and purchase hereunder. Each such Canadian Lender
will provide to the Canadian Administrative Agent the Discount Proceeds of such B/A Equivalent
Advance for the account of the Canadian Borrower. Each such B/A Equivalent Advance will bear
interest at the same rate that would result if such Lender had accepted (and been paid an
Acceptance Fee) and purchased (on a discounted basis at the Discount Rate) a Bankers’ Acceptance
for the relevant Contract Period (it being the intention of the parties that each such B/A
Equivalent Advance shall have the same economic consequences for the Lenders and the Canadian
Borrower as the Bankers’ Acceptance which such B/A Equivalent Advance replaces). All such interest
shall be paid in advance on the date such B/A Equivalent Advance is made, and will be deducted from
the principal amount of such B/A Equivalent Advance in the same manner in which the Discount
Proceeds of a Bankers’ Acceptance would be deducted from the face amount of the Bankers’
Acceptance.

     (i) The Canadian Borrower waives presentment for payment and any other defense to payment of
any amounts due to a Canadian Lender in respect of a B/A accepted and purchased by it pursuant to
this Agreement which might exist solely by reason of such B/A being held, at the maturity thereof,
by such Canadian Lender in its own right and the Canadian Borrower agrees not to claim any days of
grace if such Canadian Lender as holder sues the Canadian Borrower on the B/A for payment of the
amount payable by the Canadian Borrower thereunder. On the last day of the Contract Period of a
B/A, or such earlier date as may be required or permitted pursuant to the provisions of this
Agreement, the Canadian Borrower

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shall pay the Canadian Lender that has accepted and purchased such B/A the full face amount of
such B/A (subject to Section 2.5(j) below and Section 2.7(b)), and after such payment, the Canadian
Borrower shall have no further liability in respect of such B/A and such Canadian Lender shall be
entitled to all benefits of, and be responsible for all payments due to third parties under, such
B/A.

     (j) Except as required by any Canadian Lender upon the occurrence of an Event of Default, no
B/A Advance may be repaid by the Canadian Borrower prior to the expiry date of the Contract Period
applicable to such B/A Advance; provided, however, that any B/A or B/A Equivalent Advance
may be defeased as provided in Section 2.7(b)(ii).

Section 2.6 Borrowings; Procedures and Limitations.

     (a) Notice. Each Borrowing shall be made pursuant to a Notice of Borrowing (other
than the Borrowings to be made on the Effective Date, US Swingline Borrowings and Canadian
Swingline Borrowings) and given:

(i) by the US Borrower to the US Administrative Agent not later than 12:00 p.m. (Houston,
Texas time) on the fourth Business Day before the date of the proposed Borrowing in the case
of a Eurocurrency Advance under the US Facility denominated in a Foreign Currency,

(ii) by the US Borrower to the US Administrative Agent not later than 12:00 p.m. (Houston,
Texas time) on the third Business Day before the date of the proposed Borrowing in the case
of a Eurocurrency Advance under the US Facility denominated in Dollars,

(iii) by the US Borrower to the US Administrative Agent not later than 12:00 p.m. (Houston,
Texas time) one Business Day before the date of the proposed Borrowing in the case of a US
Base Rate Advance;

(iv) by the Canadian Borrower to the Canadian Administrative Agent not later than 12:00 p.m.
(Calgary, Alberta Canada time) on the fourth Business Day before the date of the proposed
Borrowing in the case of a Eurocurrency Advance under the Canadian Facility denominated in
Dollars,

(v) by the Canadian Borrower to the Canadian Administrative Agent not later than 12:00 p.m.
(Calgary, Alberta Canada time) on the third Business Day before the date of the proposed
Borrowing in the case of a Eurocurrency Advance under the Canadian Facility, Canadian Base
Rate (US$) Advance and in the case of B/A Advances, and

(vi) by the Canadian Borrower to the Canadian Administrative Agent not later than 12:00 p.m.
(Calgary, Alberta Canada time) one Business Day before the date of the proposed Borrowing in
the case of a Canadian Base Rate (C$) Advance.

     (b) The Applicable Administrative Agent shall give each applicable Lender prompt notice on the
day of receipt of timely Notice of Borrowing of such proposed Borrowing by facsimile (other than
the deemed Borrowings to be made on the Effective Date under Section 2.1(e), the US Swingline
Borrowings and the Canadian Swingline Borrowings). Each Notice of Borrowing shall be by telephone
or facsimile, and if by telephone, confirmed promptly in writing, specifying the (i) requested date
of such Borrowing (which shall be a Business Day), (ii) requested Type of Advances comprising such
Borrowing, (iii) aggregate amount of such Borrowing, (iv) if such Borrowing is to be comprised of
Eurocurrency Advances, the Interest Period for such Advances, (v) if such Borrowing is to be
comprised of B/A Advances, the Contract Period for such Advances, and (vi) the Designated Currency
of such Borrowing.

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In the case of a proposed Borrowing comprised of Eurocurrency Advances, the Applicable
Administrative Agent shall promptly notify each applicable Lender of the applicable interest rate
under Section 2.10, as applicable. Each US Lender or Canadian Lender, as applicable, shall before
11:00 a.m. (Houston, Texas time or Calgary, Alberta Canada time, as applicable) on the date of the
proposed Borrowing, make available for the account of its Lending Office to the Applicable
Administrative Agent at its address referred to in Section 9.7, or such other location as the
Applicable Administrative Agent may specify by notice to the applicable Lenders, in Same Day Funds,
such Lender’s Applicable Pro Rata Share of such Borrowing. Promptly upon the Applicable
Administrative Agent’s receipt of such funds (but in any event not later than 3:00 p.m. (Houston,
Texas time or Calgary, Alberta Canada time, as applicable) on the date of the proposed Borrowing)
and provided that the applicable conditions set forth in Article III have been satisfied, the
Applicable Administrative Agent will make such funds available to the Applicable Borrower at its
account with such Administrative Agent.

     (c) Conversions and Continuations. In order to elect to Convert or continue Advances
comprising part of the same Borrowing under this Section, the Applicable Borrower shall:

(i) in case of a US Borrowing, deliver an irrevocable Notice of Conversion or Continuation
to the US Administrative Agent at the US Administrative Agent’s office no later than 12:00
p.m. (Houston, Texas time) (A) at least one Business Day in advance of the proposed
Conversion date in the case of a Conversion of such Advances to US Base Rate Advances, (B)
at least three Business Days in advance of the proposed Conversion or continuation date in
the case of a Conversion to, or a continuation of, Eurocurrency Advances denominated in
Dollars; and (C) at least four Business Days in advance of the proposed Conversion or
continuation date in the case of a Conversion to, or a continuation of, Eurocurrency
Advances denominated in Foreign Currencies;

(ii) in case of a Canadian Borrowing or a B/A Borrowing, deliver an irrevocable Notice of
Conversion or Continuation to the Canadian Administrative Agent at the Canadian
Administrative Agent’s office no later than 12:00 p.m. (Calgary, Alberta Canada time) (A) at
least one Business Day in advance of the proposed Conversion date in the case of a
Conversion of such Advance to Canadian Base Rate (C$) Advances, (B) at least three Business
Day in advance of the proposed Conversion date in the case of a Conversion of such Advance
to Canadian Base Rate (US$) Advances, (C) at least three Business Days in advance of the
proposed Conversion or continuation date in the case of a Conversion to, or a continuation
of, Eurocurrency Advances under the Canadian Facility, and (D) at least three Business Days
in advance of the proposed Conversion or continuation date in the case of a Conversion to,
or a continuation of, B/A Advances.

Each such Notice of Conversion or Continuation shall be in writing or by telephone or facsimile,
and if by telephone, confirmed promptly in writing, specifying (A) the requested Conversion or
continuation date (which shall be a Business Day), (B) the Borrowing amount and Type of the
Advances to be Converted or continued, (C) whether a Conversion or continuation is requested, and
if a Conversion, into what Type of Advances, (D) in the case of a Conversion to, or a continuation
of, Eurocurrency Advances, the requested Interest Period, and (E) in the case of a Conversion to,
or continuation of, B/A Advances, the requested Contract Period. Promptly after receipt of a
Notice of Conversion or Continuation under this paragraph, the Applicable Administrative Agent
shall provide each applicable Lender with a copy thereof and, in the case of a Conversion to or a
continuation of Eurocurrency Advances, notify each applicable Lender of the applicable interest
rate under Section 2.10 as applicable. For purposes other than the conditions set forth in Section
3.2, the portion of Advances comprising part of the same Borrowing that are Converted to Advances
of another Type shall constitute a new Borrowing.

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     (d) Certain Limitations. Notwithstanding anything in paragraphs (a), (b) and (c)
above:

(i) Each US Borrowing shall (A) be in an aggregate amount not less than $3,000,000 and in
integral multiples of $1,000,000 in excess thereof in case of Eurocurrency Advances and in
an aggregate amount not less than $500,000 and in integral multiples of $100,000 in excess
thereof in case of US Base Rate Advances, (B) consist of Advances of the same Type made,
Converted or continued on the same day by the US Lenders according to their Applicable
Percentage, and (C) denominated in the applicable Designated Currencies.

(ii) Each Canadian Borrowing and each B/A Borrowing shall (A) with respect to Eurocurrency
Advances, be in an aggregate amount not less than $1,000,000 and in integral multiples of
$100,000, (B) with respect to Canadian Base Rate (US$) Advances, be in an aggregate amount
not less than $500,000 and in integral multiples of $100,000 in excess thereof, (C) with
respect to Canadian Base Rate (C$) Advances, be in an aggregate amount not less than
C$500,000 and in integral multiples of C$100,000, (D) with respect to B/A Advances, be in
such minimum amounts required under Section 2.5, (E) consist of Advances of the same Type
made, Converted or continued on the same day by the Canadian Lenders according to their
Applicable Percentage, and (F) denominated in the applicable Designated Currencies.

(iii) At no time shall there be more than eight Interest Periods applicable to outstanding
Eurocurrency Advances under the Facilities nor more than five Contract Periods applicable to
B/A Advances under the Canadian Facility.

(iv) No single Borrowing consisting of Eurocurrency Advances may include Advances in
different currencies and no single Borrowing consisting of Canadian Base Rate Advances may
include Advances in different currencies.

(v) Neither Borrower may select Eurocurrency Advances for any Borrowing to be made,
Converted or continued if a Default or Event of Default has occurred and is continuing.

(vi) Canadian Borrower may not select B/A Advances for any Borrowing to be made, Converted
or continued if a Default or Event of Default has occurred and is continuing.

(vii) If any Lender shall, at least one Business Day prior to the requested date of any
Borrowing comprised of Eurocurrency Advances or B/A Advances, notify the Applicable
Administrative Agent and the Applicable Borrower that the introduction of or any change in
or in the interpretation of any Legal Requirement makes it unlawful, or that any central
bank or other Governmental Authority asserts that it is unlawful, for such Lender or its
Lending Office to perform its obligations under this Agreement to make Eurocurrency Advances
or B/A Advances or to fund or maintain Eurocurrency Advances or B/A Advances, or any
Governmental Authority has imposed material restrictions on the authority of such Lender to
purchase or sell, or take deposits of, Dollars or any Foreign Currency in the applicable
interbank market, then (1) if the requested Borrowing was of US Advances, such Lender’s
Applicable Percentage of the Dollar Equivalent amount of such Borrowing shall be made as a
US Base Rate Advance of such US Lender under the US Facility, (2) if the requested Borrowing
was of Canadian Advances denominated in Dollars, such Lender’s Applicable Percentage of the
Dollar Equivalent amount of such Borrowing shall be made as a Canadian Base Rate (US$)
Advance of such Lender, (3) if the requested Borrowing was of Canadian Advances denominated
in Canadian Dollars, such Lender’s Applicable Percentage of the amount of such Borrowing
shall be made as a Canadian Base Rate (C$) Advance of such Lender, (4) in any event, such US
Base Rate Advance or Canadian Base Rate Advance, as applicable, shall be considered part of
the same Borrowing and interest on such

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US Base Rate Advance or Canadian Base Rate Advance, as applicable, shall be due and payable
at the same time that interest on the Eurocurrency Advances or the face amount of the B/A
Advances comprising the remainder of such Borrowing shall be due and payable, and (5) any
obligation of such Lender to make, continue, or Convert to, Eurocurrency Advances in the
affected currency or currencies, or to make B/A Advances, including in connection with such
requested Borrowing, shall be suspended until such Lender notifies the Applicable
Administrative Agent and the Applicable Borrower that the circumstances giving rise to such
determination no longer exist.

(viii) If (A) the US Administrative Agent is unable to determine the Eurocurrency Rate for
Eurocurrency Advances comprising any requested US Borrowing, or (B) the Canadian
Administrative Agent is unable to determine the Eurocurrency Rate for Eurocurrency Advances
comprising any requested Canadian Borrowing, the right of the Applicable Borrower to select
Eurocurrency Advances in the affected currency or currencies for such Borrowing or for any
subsequent Borrowing shall be suspended until the Applicable Administrative Agent shall
notify the Applicable Borrower and the applicable Lenders that the circumstances causing
such suspension no longer exist, and each US Advance comprising such Borrowing shall be made
as a US Base Rate Advance under the US Facility in the Dollar Equivalent of the originally
requested Advance, and each Canadian Advance comprising such Borrowing shall be made as a
Canadian Base Rate (US$) Advance in the Dollar Equivalent of the originally requested
Advance.

(ix) If the US Majority Lenders shall, at least one Business Day before the date of any
requested Borrowing, notify the US Administrative Agent that (A) the Eurocurrency Rate for
Eurocurrency Advances comprising such Borrowing will not adequately reflect the cost to such
Lenders of making or funding their respective Eurocurrency Advances, as the case may be, for
such Borrowing, or (B) deposits are not being offered to banks in the applicable offshore
interbank market for such currency for the applicable amount and Interest Period of such
Eurocurrency Advance, then the US Administrative Agent shall give notice thereof to the US
Borrower and the US Lenders and the right of the US Borrower to select Eurocurrency Advances
in the affected currency or currencies for such US Borrowing or for any subsequent US
Borrowing shall be suspended until the US Administrative Agent shall notify the US Borrower
and the US Lenders that the circumstances causing such suspension no longer exist, and each
Advance comprising such Borrowing shall be made as a US Base Rate Advance under the US
Facility in the Dollar Equivalent of the originally requested Advance.

(x) If the Canadian Majority Lenders shall, at least one Business Day before the date of any
requested Borrowing, notify the Canadian Administrative Agent that (A) the Eurocurrency Rate
for Eurocurrency Advances or the Discount Rate for the B/A Advances comprising such
Borrowing will not adequately reflect the cost to such Lenders of making or funding their
respective Eurocurrency Advances or B/A Advances, as the case may be, for such Borrowing, or
(B) deposits are not being offered to banks in the applicable offshore interbank market for
Dollars or Canadian Dollars for the applicable amount and Interest Period of such
Eurocurrency Advance, the right of the Canadian Borrower to select Eurocurrency Advances or
B/A Advances for such Borrowing or for any subsequent Borrowing shall be suspended until the
Canadian Administrative Agent shall notify the Canadian Borrower and the Canadian Lenders
that the circumstances causing such suspension no longer exist, and each Advance comprising
such Canadian Borrowing shall be made as a Canadian Base Rate (US$) Advance in case of a
requested Eurocurrency Advance and as a Canadian Base Rate (C$) Advance in case of a
requested B/A Advance.

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(xi) With respect to any proposed Borrowing consisting of Eurocurrency Advances denominated
in any Foreign Currencies and requested or made under the US Facility, if there shall occur
on or prior to the date of such Borrowing any change in national or international financial,
political or economic conditions or currency exchange rates or exchange controls which would
in the reasonable opinion of the US Administrative Agent or the US Majority Lenders, make it
impracticable for such Borrowing to be denominated in the Foreign Currency designated by the
US Borrower, then the US Administrative Agent shall give notice thereof to the US Borrower
and the US Lenders, and the right of the US Borrower to select Eurocurrency Advances in the
affected currency or currencies for such Borrowing or for any subsequent Borrowing shall be
suspended until the US Administrative Agent shall notify the US Borrower and the US Lenders
that the circumstances causing such suspension no longer exist, and each Advance comprising
such Borrowing shall be made as a US Base Rate Advance in the Dollar Equivalent of the
originally requested Advance.

(xii) If the Applicable Borrower shall fail to select the duration or continuation of any
Interest Period for any Eurocurrency Advance in accordance with the provisions contained in
the definition of “Interest Period” in Section 1.1 and paragraph (b) or (c) above, the
Applicable Administrative Agent will forthwith so notify the Applicable Borrower and the
applicable Lenders and (A) if denominated in Dollars under the US Facility, such affected
Advances will be made available to the US Borrower on the date of such Borrowing as US Base
Rate Advances or, if such affected Advances are existing Advances, will be Converted into US
Base Rate Advances at the end of Interest Period then in effect, (B) if under the Canadian
Facility, such affected Advances will be made available to the Canadian Borrower on the date
of such Borrowing as Canadian Base Rate (US$) Advances or, if such affected Advances are
existing Advances, will be Converted into Canadian Base Rate (US$) Advances at the end of
Interest Period then in effect, and (C) if denominated in a Foreign Currency under the US
Facility, the US Borrower shall be deemed to have specified an Interest Period of one month
for such affected Advances or, if such affected Advances are existing Advances, such
affected Advances will be continued as a Eurocurrency Advance in the original Designated
Currency with an Interest Period of one month.

(xiii) If the Canadian Borrower shall fail to select the duration or continuation of any
Contract Period for any B/A Advance in accordance with the provisions contained in the
definition of “Contract Period” in Section 1.1, clause (b) and (c) above, and Section 2.5,
the Canadian Administrative Agent will forthwith so notify the Canadian Borrower and the
Canadian Lenders and such affected B/A Advances will be made available to the Canadian
Borrower on the date of such Borrowing as Canadian Base Rate (C$) Advances or, if such
affected B/A Advances are existing Advances, will be automatically Converted into Canadian
Base Rate (C$) Advances at the end of the Contract Period then in effect.

(xiv) If the US Borrower shall fail to specify a currency for any Eurocurrency Advances
under the US Facility, then the Eurocurrency Advances as requested shall be made in Dollars.

(xv) US Advances may only be Converted or continued as US Advances.

(xvi) Canadian Advances may only be Converted or continued as Canadian Advances.

(xvii) Swingline Advances may not be Converted or continued.

(xviii) No Advance may be Converted or continued as an Advance in a different currency, but
instead must be prepaid (or defeased with respect to B/A Advances) in the original
Designated Currency of such Advance and reborrowed in such new Designated Currency.

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     (e) Notices Irrevocable. Each Notice of Borrowing and Notice of Conversion or
Continuation shall be irrevocable and binding on the Applicable Borrower.

     (f) Lender Obligations Several. The failure of any Lender to make the Advance to be
made by it as part of any Borrowing shall not relieve any other Lender of its obligation, if any,
to make its Advance on the date of such Borrowing. No Lender shall be responsible for the failure
of any other Lender to make the Advance to be made by such other Lender on the date of any
Borrowing.

     (g) Funding by Lenders; Administrative Agents’ Reliance. Unless the Applicable
Administrative Agent shall have received notice from a Lender prior to the proposed date of any
Borrowing of Eurocurrency Advances or of B/A Advances, or prior to noon on the date of any
Borrowing of Base Rate Advances, that such Lender will not make available to the Applicable
Administrative Agent such Lender’s share of such Borrowing, the Applicable Administrative Agent may
assume that such Lender has made such share available in accordance with and at the time required
in Section 2.6 (or, in the case of a Borrowing of B/A Advances, that such Lender has made such
share available in accordance with and at the time required by Section 2.5) and may, in reliance
upon such assumption, make available to the Applicable Borrower a corresponding amount. In such
event, if a Lender has not in fact made its share of the applicable Borrowing available to the
Applicable Administrative Agent, then the applicable Lender and the Applicable Borrower severally
agree to pay to the Applicable Administrative Agent forthwith on demand such corresponding amount
in Same Day Funds with interest thereon, for each day from and including the date such amount is
made available to such Borrower to but excluding the date of payment to the Applicable
Administrative Agent, at (A) in the case of a payment to be made by such Lender, the Overnight Rate
and (B) in the case of a payment to be made by such Borrower, the interest rate applicable to the
requested Borrowing. If such Borrower and such Lender shall pay such interest to the Applicable
Administrative Agent for the same or an overlapping period, the Applicable Administrative Agent
shall promptly remit to such Borrower the amount of such interest paid by such Borrower for such
period. If such Lender pays its share of the applicable Borrowing to the Applicable Administrative
Agent, then the amount so paid shall constitute such Lender’s Advance included in such Borrowing.
Any payment by such Borrower shall be without prejudice to any claim such Borrower may have against
a Lender that shall have failed to make such payment to the Applicable Administrative Agent. A
notice of the Applicable Administrative Agent to any Lender or Applicable Borrower with respect to
any amount owing under this subsection (g) shall be conclusive, absent manifest error.

Section 2.7 Prepayments; Defeasance.

     (a) Right to Prepay. No Borrower shall have any right to prepay any principal amount
of any Advance except as provided in this Section 2.7.

     (b) Optional.

(i) Each Borrower may elect to prepay any Borrowing (other than Bankers’ Acceptances or B/A
Equivalent Advances, which may, however, be defeased as provided below), in whole or in
part, without penalty or premium except as set forth in Section 2.12 and after giving by
11:00 a.m. (Houston, Texas time or Calgary, Alberta Canada time as applicable) (i) in the
case of Eurocurrency Advances, at least three Business Days’ or (ii) in case of Base Rate
Advances, same Business Day’s prior written notice to the Applicable Administrative Agent
stating the proposed date and aggregate principal amount of such prepayment. If any such
notice is given, such Borrower shall prepay Advances comprising part of the same Borrowing
in whole or ratably in part in an aggregate principal amount equal to the amount specified
in such notice, together with accrued interest to the date of such prepayment on the
principal amount prepaid and amounts, if any, required to be paid pursuant to Section 2.12
as a result of such prepayment being made on

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such date; provided that (A) each optional partial prepayment of a Borrowing (other
than a US Swingline Borrowing or a Canadian Swingline Borrower) shall be in a minimum amount
not less than $3,000,000 and in multiple integrals of $1,000,000 in excess thereof, and (B)
partial prepayments of US Swingline Borrowing or Canadian Swingline Borrowing shall be in
such minimum amounts as may be agreed to by the Applicable Swingline Lender and the
Applicable Borrower. If an AutoBorrow Agreement is in effect, each prepayment of US
Swingline Advances shall be made as provided in such AutoBorrow Agreement.

(ii) The Canadian Borrower may defease any B/A or B/A Equivalent Advance by depositing with
the Canadian Administrative Agent an amount that, together with interest accruing on such
amount to the end of the Contract Period for such B/A or B/A Equivalent Advance is
sufficient to pay such maturing B/As or B/A Equivalent Advances when due. The Applicable
Administrative Agent shall promptly advise the applicable Lenders of any notice given
pursuant to this Section 2.7 and of each Lender’s portion of such prepayment.

     (c) Mandatory.

(i) On each Computation Date the US Administrative Agent shall consult with the Canadian
Administrative Agent regarding the Exchange Rate and the Administrative Agents shall
determine the Dollar Equivalent of the aggregate US Outstandings and the aggregate Canadian
Outstandings. If, on any Computation Date: (i) the Dollar Equivalent of the US Outstandings
exceeds the aggregate US Commitments then in effect; or (ii) the Dollar Equivalent of the
Canadian Outstandings exceeds the aggregate Canadian Commitments then in effect; then the US
Administrative Agent shall give notice thereof to the US Borrower and the US Lenders, and
the Canadian Administrative Agent shall give notice thereof to the Canadian Borrower and the
Canadian Lenders. Within five Business Days after the Applicable Borrower has received
notice thereof, (A) the Canadian Borrower shall first prepay outstanding Canadian Base Rate
Advances and Eurocurrency Advances, second defease outstanding B/A Advances pursuant to
Section 2.7(b)(ii), third prepay outstanding Canadian Swingline Advances, and fourth make
deposits into the Canadian Cash Collateral Account, such that after giving effect to such
prepayment or provision, the Dollar Equivalent of the Canadian Outstandings does not exceed
the aggregate Canadian Commitments then in effect and (B) the US Borrower shall first prepay
outstanding US Advances, second prepay outstanding US Swingline Advances, and third make
deposits into the US Cash Collateral Account, such that after giving effect to such
prepayment or provision, the Dollar Equivalent of the US Outstandings does not exceed the
aggregate US Commitments then in effect.

(ii) If, in any fiscal year, the US Borrower or any Subsidiary (that is a Restricted
Subsidiary at the time of such receipt), receives casualty insurance proceeds or
condemnation proceeds in connection with any assets of such Borrower or such Subsidiary and,
which when taken together with all other insurance proceeds or condemnation proceeds
received by the US Borrower or any Subsidiary (that is a Restricted Subsidiary at the time
of such receipt) during such fiscal year but less any third-party costs and expenses
incurred by the US Borrower or such Subsidiary to collect such proceeds, are greater than
$10,000,000, such proceeds are not utilized to repair or replace or been contractually
committed to repair or replace such assets within 365 days after the date of such casualty
event or condemnation event, then immediately upon the expiration of such 365-day period (1)
the Canadian Borrower shall prepay (or otherwise provide for) the Canadian Outstandings, and
(2) US Borrower shall prepay (or otherwise provide for) the US Outstandings to the extent
any such proceeds are not Foreign Proceeds, in an aggregate amount equal to 100% of such
unutilized excess and such prepayments and provisions shall be made as set forth in Section
2.7(e) and Section 2.7(f); provided that, notwithstanding the provisions of this clause
(ii),

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if an Event of Default has occurred and is continuing when any such insurance proceeds and
condemnation proceeds are received by the US Borrower or any such Subsidiary, then (A) the
Canadian Borrower shall prepay (or otherwise provide for) the Canadian Outstandings, and (B)
US Borrower shall prepay (or otherwise provide for) the US Outstandings to the extent any
such proceeds are not Foreign Proceeds, in an aggregate amount equal to 100% of all such
casualty insurance proceeds and condemnation proceeds less any third-party costs and
expenses incurred by the US Borrower or such Subsidiary to collect such proceeds, regardless
of whether the aggregate amount of such proceeds in such fiscal year is greater than
$10,000,000, and such prepayments and provisions shall be made as set forth in Section
2.7(e) and Section 2.7(f).

(iii) If any currency shall cease to be an Agreed Currency as provided herein, then
promptly, but in any event within five (5) Business Days of receipt of the notice from the
US Administrative Agent provided for in such sentence, the US Borrower shall prepay all US
Advances funded and denominated in such affected currency or Convert such US Advances into
Advances in Dollars, subject to the other terms set forth in Article II.

(iv) If a Commitment Increase is effected as permitted under Section 2.1(f), the US Borrower
shall prepay any US Advances outstanding on such Increase Date and the Canadian Borrower
shall prepay any Canadian Advances to the extent necessary to keep the outstanding Canadian
Advances and the outstanding US Advances ratable to reflect the revised Applicable
Percentages arising from such Commitment Increase. Any prepayment made by US Borrower in
accordance with this clause (iv) may be made with the proceeds of Advances made by all the
Lenders in connection the Commitment Increase occurring simultaneously with the prepayment.

     (d) Interest; Costs. Each prepayment pursuant to this Section 2.7 shall be
accompanied by accrued interest on the amount prepaid to the date of such prepayment and amounts,
if any, required to be paid pursuant to Section 2.12 as a result of such prepayment being made on
such date.

     (e) Application of Foreign Proceeds. All excess amounts described in clause (ii) of
Section 2.7(c) that are Foreign Proceeds shall be applied by the Canadian Borrower for the
following prepayments and provisions and in the following order:

(i) First, prepayments of all Canadian Swingline Advances until all Canadian Swingline
Advances are repaid in full;

(ii) Second, prepayments of (or in the case of B/A Advances, defeasance of) all Canadian
Advances until such Advances are repaid in full; and

(iii) Third, if the Canadian Commitments have been terminated or expired, deposits into the
Canadian Cash Collateral Account to provide Cash Collateral to the extent of any existing
Canadian Letter of Credit Exposure.

     (f) Application of Domestic Proceeds. All excess amounts described in clause (ii) of
Section 2.7(c) that are Domestic Proceeds shall be applied by the US Borrower for the following
prepayments and provisions and in the following order:

(i) First, ratable prepayments of all US Swingline Advances until all US Swingline Advances
are repaid in full;

(ii) Second, ratable prepayments of all US Advances until all such Advances are repaid in
full; and

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(iii) Third, if the applicable Commitments have been terminated or expired, ratable deposits
into the US Collateral Account to provide Cash Collateral to the extent of any existing US
Letter of Credit Exposure.

Section 2.8 Repayment.

     (a) US Advances. The US Borrower hereby unconditionally promises to pay to the US
Administrative Agent for the account of and ratable benefit of each US Lender the aggregate
outstanding principal amount of all US Advances on the Maturity Date.

     (b) Canadian Advances. The Canadian Borrower hereby unconditionally promises to pay
to the Canadian Administrative Agent for the account of and ratable benefit of each Canadian Lender
the aggregate outstanding principal amount of all Canadian Advances on the Maturity Date.

     (c) US Swingline Advances. The US Borrower hereby unconditionally promises to pay the
US Swingline Advances to the US Swingline Lender (i) the aggregate outstanding principal amount of
all US Swingline Advances on each US Swingline Payment Date, and (ii) the aggregate outstanding
principal amount of all US Swingline Advances outstanding on the Maturity Date.

     (d) Canadian Swingline Advances. The Canadian Borrower hereby unconditionally
promises to pay the Canadian Swingline Advances to the Canadian Swingline Lender (i) the aggregate
outstanding principal amount of all Canadian Swingline Advances on each Canadian Swingline Payment
Date, and (ii) the aggregate outstanding principal amount of all Canadian Swingline Advances
outstanding on the Maturity Date.

Section 2.9 Fees.

     (a) US Commitment Fees. The US Borrower agrees to pay to the US Administrative Agent
for the account of each US Lender a US Commitment Fee on the average daily amount by which such
Lender’s US Commitment exceeds such Lender’s outstanding US Advances plus such Lender’s Applicable
Percentage of the US Letter of Credit Exposure at the rate equal to the Applicable Margin for US
Commitment Fees for such period. The US Commitment Fee is due quarterly in arrears on March 31,
June 30, September 30, and December 31 of each year commencing on December 31, 2006, and on the
Maturity Date. For purposes of this Section 2.9(a) only, amounts advanced as US Swingline Advances
shall not reduce the amount of the unused US Commitment.

     (b) Canadian Commitment Fees. The Canadian Borrower agrees to pay to the Canadian
Administrative Agent for the account of each Canadian Lender a Canadian Commitment Fee on the
average daily amount by which such Lender’s Canadian Commitment exceeds such Lender’s outstanding
Canadian Advances plus such Lender’s Applicable Percentage of the Canadian Letter of Credit
Exposure at the rate equal to the Applicable Margin for Canadian Commitment Fees for such period.
The Canadian Commitment Fee is due quarterly in arrears on March 31, June 30, September 30, and
December 31 of each year commencing on December 31, 2006, and on the Maturity Date. For purposes
of this Section 2.9(b) only, amounts advanced as Canadian Swingline Advances shall not reduce the
amount of the unused Canadian Commitment.

     (c) Fees for US Letters of Credit. The US Borrower agrees to pay the following:

(i) to the US Administrative Agent for the pro rata benefit of the US Lenders a per annum
letter of credit fee for each standby US Letter of Credit issued hereunder in an amount
equal to 66 2/3% of the Applicable Margin for Eurocurrency Advances under the US Facility
per annum on

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the face amount of such US Letter of Credit for the period such US Letter of Credit is to be
outstanding, which fee shall be due and payable quarterly in arrears on March 31, June 30,
September 30, and December 31 of each year, and on the Maturity Date;

(ii) to the US Administrative Agent for the pro rata benefit of the US Lenders a per annum
letter of credit fee for each US Letter of Credit (other than a standby US Letter of Credit)
issued hereunder in an amount equal to the Applicable Margin for Eurocurrency Advances under
the US Facility per annum on the face amount of such US Letter of Credit for the period such
US Letter of Credit is to be outstanding, which fee shall be due and payable quarterly in
arrears on March 31, June 30, September 30, and December 31 of each year, and on the
Maturity Date;

(iii) to the US Issuing Lender, a fronting fee for each standby US Letter of Credit equal to
the greater of (A) .125% per annum on the face amount of such US Letter of Credit and (B)
$750.00, which fee shall be due and payable in advance on the date of the issuance of the
Letter of Credit, and, in the case of an increase or extension only, on the date of such
increase or such extension;

(iv) to the US Issuing Lender, such other fronting fee for each US Letter of Credit that is
not a standby US Letter of Credit equal to an amount agreed to between the US Borrower and
the US Issuing Lender in writing, which fee shall be due and payable in advance on the date
of the issuance of such Letter of Credit, and, in the case of an increase or extension only,
on the date of such increase or such extension; and

(v) to the US Issuing Lender such other usual and customary fees associated with any
transfers, amendments, drawings, negotiations or reissuances of any US Letter of Credit,
which fees shall be due and payable as requested by the US Issuing Lender in accordance with
the US Issuing Lender’s then current fee policy. The US Borrower shall have no right to any
refund of letter of credit fees previously paid by the US Borrower, including any refund
claimed because the US Borrower cancels any Letter of Credit prior to its expiration date.

     (d) Fees for Canadian Letters of Credit. The Canadian Borrower agrees to pay the
following:

(i) to the Canadian Administrative Agent for the pro rata benefit of the Canadian Lenders a
per annum letter of credit fee for each standby Canadian Letter of Credit issued hereunder
in an amount equal to 66 2/3% of the Applicable Margin for Eurocurrency Advances under the
Canadian Facility per annum on the face amount of such Canadian Letter of Credit for the
period such Canadian Letter of Credit is to be outstanding, which fee shall be due and
payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each
year, and on the Maturity Date;

(ii) to the Canadian Administrative Agent for the pro rata benefit of the Canadian Lenders a
per annum letter of credit fee for each Canadian Letter of Credit (other than a standby
Letter of Credit) issued hereunder in an amount equal to the Applicable Margin for
Eurocurrency Advances under the Canadian Facility per annum on the face amount of such
Canadian Letter of Credit for the period such Canadian Letter of Credit is to be
outstanding, which fee shall be due and payable quarterly in arrears on March 31, June 30,
September 30, and December 31 of each year, and on the Maturity Date;

(iii) to the Canadian Issuing Lender, a fronting fee for each standby Canadian Letter of
Credit equal to the greater of (A) .125% per annum on the face amount of such Canadian
Letter of Credit and (B) $750.00, which fee shall be due and payable in advance on the date
of the issuance

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of the Letter of Credit, and, in the case of an increase or extension only, on the date of
such increase or such extension;

(iv) to the Canadian Issuing Lender, such other fronting fee for each Canadian Letter of
Credit that is not a standby Canadian Letter of Credit equal to an amount agreed to between
the Canadian Borrower and the Canadian Issuing Lender in writing, which fee shall be due and
payable in advance on the date of the issuance of such Letter of Credit, and, in the case of
an increase or extension only, on the date of such increase or such extension; and

(v) to the Canadian Issuing Lender such other usual and customary fees associated with any
transfers, amendments, drawings, negotiations or reissuances of any Canadian Letter of
Credit, which fees shall be due and payable as requested by the Canadian Issuing Lender in
accordance with the Canadian Issuing Lender’s then current fee policy. The Canadian
Borrower shall have no right to any refund of letter of credit fees previously paid by the
Canadian Borrower, including any refund claimed because the Canadian Borrower cancels any
Letter of Credit prior to its expiration date

     (e) Administrative Agent Fee. The Borrowers agree to pay the fees to the US
Administrative Agent as set forth in the Fee Letter.

Section 2.10 Interest.

     (a) US Base Rate Advances. Each US Base Rate Advance shall bear interest at the
Adjusted Base Rate in effect from time to time plus the Applicable Margin for US Base Rate
Advances for such period. The US Borrower shall pay to US Administrative Agent for the ratable
benefit of each US Lender all accrued but unpaid interest on such US Lender’s US Base Rate Advances
on each March 31, June 30, September 30, and December 31 commencing on June 30, 2011, and on the
Maturity Date.

     (b) Canadian Base Rate Advances. Each Canadian Base Rate Advance shall bear interest
at the applicable Canadian Base Rate in effect from time to time plus the Applicable Margin
for Canadian Base Rate Advances for such period. The Canadian Borrower shall pay to Canadian
Administrative Agent for the ratable benefit of each Canadian Lender all accrued but unpaid
interest on such Canadian Lender’s Canadian Base Rate Advances on each March 31, June 30, September
30, and December 31 commencing on the first such date to occur after the Canadian Facility
Effective Date, and on the Maturity Date.

     (c) Eurocurrency Advances. Each Eurocurrency Advance shall bear interest during its
Interest Period equal to at all times the Eurocurrency Rate for such Interest Period plus
the Applicable Margin for Eurocurrency Advances for such period. The Canadian Borrower shall pay
to the Canadian Administrative Agent for the ratable benefit of each Canadian Lender all accrued
but unpaid interest on each of such Canadian Lender’s Eurocurrency Advances on the last day of the
Interest Period therefor (provided that for Eurocurrency Advances with six month Interest Periods,
accrued but unpaid interest shall also be due on the day three months from the first day of such
Interest Period), on the date any Eurocurrency Advance is repaid in full, and on the Maturity Date.
The US Borrower shall pay to the US Administrative Agent for the ratable benefit of each US Lender
all accrued but unpaid interest on each of such US Lender’s Eurocurrency Advances on the last day
of the Interest Period therefor (provided that for Eurocurrency Advances with six month Interest
Periods, accrued but unpaid interest shall also be due on the day three months from the first day
of such Interest Period), on the date any Eurocurrency Advance is repaid in full, and on the
Maturity Date.

     (d) US Swingline Advances. US Swingline Advances shall bear interest at the Adjusted
Base Rate in effect from time to time plus the Applicable Margin for US Base Rate Advances. The US
Borrower

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shall pay to the US Swingline Lender for its own account subject to Section 2.4(f) all accrued
but unpaid interest on each US Swingline Advance on each US Swingline Payment Date, on the date any
US Swingline Advance is repaid (or refinanced) in full, and on the Maturity Date.

     (e) Canadian Swingline Advances. Canadian Swingline Advances shall bear interest at
the applicable Canadian Base Rate in effect from time to time plus the Applicable Margin for
Canadian Base Rate Advances. The Canadian Borrower shall pay to the Canadian Swingline Lender for
its own account subject to Section 2.4(f) all accrued but unpaid interest on each Canadian
Swingline Advance on each Canadian Swingline Payment Date, on the date any Canadian Swingline
Advance is repaid (or refinanced) in full, and on the Maturity Date.

     (f) Acceptance Fee on B/A Advances. Subject to the provisions of Section 9.10, the
Advances comprising each B/A Borrowing shall be subject to an Acceptance Fee, payable by the
Canadian Borrower on the date of acceptance of the relevant B/A and calculated as set forth in the
definition of the term “Acceptance Fee” in Section 1.1.

     (g) Retroactive Adjustments of Applicable Margin. In the event that any financial
statement or Compliance Certificate delivered pursuant to Section 5.2 is shown to be 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) the US Borrower shall promptly deliver to the
Administrative Agents a corrected Compliance Certificate for such Applicable Period, (ii) the
Applicable Margin shall be determined as if the higher Applicable Margin that would have applied
were applicable for such Applicable Period (and in any event at the highest level (Level IV) if the
inaccuracy was the result of intentional dishonesty, fraud or willful misconduct), and (iii) the US
Borrower shall promptly, without further action by either Administrative Agent, any Lender or
Issuing Lender, pay to the Applicable Administrative Agent for the account of the applicable
Lenders, the accrued additional interest owing as a result of such increased Applicable Margin for
such Applicable Period. This Section 2.10(g) shall not limit the rights of the Administrative
Agents and Lenders with respect to the Default Rate of interest as set forth in Section 2.10(h)
below or Article VII. The Borrowers’ obligations under this Section 2.10(g) shall survive the
termination of the Commitments and the repayment of all other Obligations hereunder.

     (h) Default Rate. Notwithstanding the foregoing, (i) from and after the occurrence
and during the continuance of an Event of Default under Section 7.1(a) or Section 7.1(g), all
Obligations shall bear interest at the Default Rate and (ii) upon the occurrence and during the
continuance of any Event of Default, upon the request of the Majority Lenders, all Obligations
shall bear interest at the Default Rate. Interest accrued pursuant to this Section 2.10(h) and all
interest accrued but unpaid on or after the Maturity Date shall be due and payable on demand.

     (i) Interest Act (Canada). For purposes of the Interest Act (Canada), in any case in
which an interest or fee rate is stated in this Agreement to be calculated on the basis of a number
of days that is other than the number in a calendar year, the yearly rate to which such interest or
fee rate is equivalent is equal to such interest or fee rate multiplied by the actual number of
days in the year in which the relevant interest or fee payment accrues and divided by the number of
days used as the basis for such calculation.

Section 2.11 Illegality. If any Lender shall notify a Borrower that the introduction of or
any change in or in the interpretation of any law or regulation makes it unlawful, or that any
central bank or other governmental authority asserts that it is unlawful, for such Lender or its
Lending Office to perform its obligations under this Agreement to make, maintain, or fund any
Eurocurrency Advances or B/A Advances of such Lender then outstanding hereunder, (a) the Applicable
Borrower shall, no later than

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11:00 a.m. (Houston, Texas, time or Calgary, Alberta Canada time, as applicable) (i) if not
prohibited by law, on the last day of the Interest Period for each outstanding Eurocurrency Advance
or on the last day of the Contract Period for each outstanding B/A Advance, as applicable, or (ii)
if required by such notice, on the second Business Day following its receipt of such notice, prepay
all of the Eurocurrency Advances of such Lender then outstanding or defease all B/A Advances of
such Lender then outstanding pursuant to Section 2.7(b)(ii), together with accrued interest on the
principal amount prepaid or defeased to the date of such prepayment and amounts, if any, required
to be paid pursuant to Section 2.12 as a result of such prepayment or defeasance being made on such
date, (b) such Lender shall simultaneously make a Base Rate Advance to the Applicable Borrower on
such date in an amount equal to the aggregate principal amount of the Eurocurrency Advances prepaid
or B/A Advances defeased to such Lender, and (c) the right of the Applicable Borrower to select
Eurocurrency Advances or B/A Advances from such Lender for any subsequent Borrowing shall be
suspended until such Lender shall notify the Applicable Borrower that the circumstances causing
such suspension no longer exist.

Section 2.12 Breakage Costs.

     (a) Funding Losses. In the case of any Revolving Borrowing which the related Notice
of Borrowing specifies is to be comprised of Eurocurrency Advances or B/A Advances, the US Borrower
hereby indemnifies each US Lender and the Canadian Borrower hereby indemnifies each Canadian Lender
against any loss, out-of-pocket cost, or expense incurred by such Lender as a result of any failure
to fulfill on or before the date specified in such Notice of Borrowing for such Borrowing the
applicable conditions set forth in Article III, including, without limitation, any loss (excluding
any loss of anticipated profits), cost, or expense incurred by reason of the liquidation or
redeployment of deposits or other funds acquired by such Lender to fund the Eurocurrency Advance or
the B/A Advance to be made by such Lender as part of such Borrowing when such Eurocurrency Advance
or B/A Advances, as the case maybe, as a result of such failure, is not made on such date.

     (b) Prepayment Losses. If (i) any payment of principal of any Eurocurrency Advance is
made other than on the last day of the Interest Period for such Advance as a result of any
prepayment, payment pursuant to Section 2.7, the acceleration of the maturity of the Obligations,
or for any other reason, (ii) the Applicable Borrower fails to make a principal or interest payment
with respect to any Eurocurrency Advance or B/A Advance on the date such payment is due and
payable, or (iii) any failure by any Borrower to make payment of any Advance or reimbursement of
drawing under any Letter of Credit (or interest due thereon) denominated in a Foreign Currency on
its scheduled due date or any payment thereof in a different currency; the Applicable Borrower
shall, within 10 days of any written demand sent by the Applicable Administrative Agent on behalf
of a Lender to the Applicable Borrower, pay to the Applicable Administrative Agent for the benefit
of such Lender any amounts determined in good faith by such Lender to be required to compensate
such Lender for any additional losses, out-of-pocket costs, or expenses which it may reasonably
incur as a result of such payment or nonpayment, including, without limitation, any loss (excluding
loss of anticipated profits), cost, or expense incurred by reason of the liquidation or
reemployment of deposits or other funds acquired by any Lender to fund or maintain such Advance.

Section 2.13 Increased Costs.

     (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 other assessment, 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 Eurocurrency Rate) or any Issuing Lender;

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(ii) subject any Lender or Issuing Lender to any tax of any kind whatsoever with
respect to this Agreement, any Letter of Credit, any participation in a Letter of Credit,
any Eurocurrency Advance made by it, or any B/A Advance made or accepted and purchased by
it, or change the basis of taxation of payments to such Lender or Issuing Lender 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
Issuing Lender); or

(iii) impose on any Lender or Issuing Lender or the London interbank market any other
condition, cost or expense affecting this Agreement or Eurocurrency Advances made by such
Lender or B/A Advances made or accepted and purchased 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,
converting, continuing or maintaining any Eurocurrency Advance or accepting and purchasing any B/A
Advance (or of maintaining its obligation to make or accept and purchase any such Advance), or to
increase the cost to such Lender or Issuing Lender 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 Issuing Lender
hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or
Issuing Lender, the US Borrower will pay to such US Lender or US Issuing Lender, and the Canadian
Borrower will pay to such Canadian Lender or Canadian Issuing Lender, as the case may be, such
additional amount or amounts as will compensate such Lender or Issuing Lender, as the case may be,
for such additional costs incurred or reduction suffered.

     (b) Capital Adequacy. If any Lender or Issuing Lender determines that any Change in
Law affecting such Lender or Issuing Lender or any lending office of such Lender or such Lender’s
or Issuing Lender’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 Issuing Lender’s capital or on the
capital of such Lender’s or Issuing Lender’s holding company, if any, as a consequence of this
Agreement, the Commitments of such Lender or the Advances made by, or participations in Letters of
Credit or Swingline Advances held by, such Lender, or the Letters of Credit issued by such Issuing
Lender, to a level below that which such Lender or Issuing Lender or such Lender’s or Issuing
Lender’s holding company could have achieved but for such Change in Law (taking into consideration
such Lender’s or Issuing Lender’s policies and the policies of such Lender’s or Issuing Lender’s
holding company with respect to capital adequacy), then from time to time the US Borrower will pay
to such US Lender or US Issuing Lender, and the Canadian Borrower will pay to such Canadian Lender
or Canadian Issuing Lender, as the case may be, such additional amount or amounts as will
compensate such Lender or such Issuing Lender or such Lender’s or Issuing Lender’s holding company
for any such reduction suffered.

     (c) Certificates for Reimbursement. A certificate of a Lender or Issuing Lender
(together with such further information as the Borrowers may reasonably request) setting forth the
amount or amounts necessary to compensate such Lender or Issuing Lender or its holding company, as
the case may be, as specified in paragraph (a) or (b) of this Section and delivered to the
Applicable Borrower shall be conclusive absent manifest error. The Applicable Borrower shall pay
such Lender or Issuing Lender, 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 Issuing Lender
to demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s or
such Issuing Lender’s right to demand such compensation, provided that the Borrowers shall
not be required to compensate a Lender or Issuing Lender pursuant to this Section for any increased
costs incurred or reductions suffered more than nine months prior to the date that such Lender or
Issuing Lender, as the case may be, notifies the Applicable Borrower of the Change in Law giving
rise to such increased costs or

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reductions and of such Lender’s or Issuing Lender’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).

Section 2.14 Payments and Computations.

     (a) Payments. All payments to be made by the Borrowers shall be made without
condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise
expressly provided herein and except with respect to principal of and interest on Advances
denominated in a Foreign Currency and Letter of Credit Obligations on Letters of Credit denominated
in a Foreign Currency, all payments by the Borrowers hereunder shall be made to the Applicable
Administrative Agent, for the account of the respective Lenders to which such payment is owed in
Dollars and in Same Day Funds. Except as otherwise expressly provided herein, all payments by the
Borrowers hereunder with respect to principal and interest on Advances denominated in a Foreign
Currency and Letter of Credit Obligations on Letters of Credit denominated in a Foreign Currency
shall be made to the Applicable Administrative Agent, for the account of the respective Lenders to
which such payment is owed, in such Foreign Currency and in Same Day Funds. If, for any reason,
any Borrower is prohibited by any Legal Requirement from making any required payment hereunder in a
Foreign Currency, such Borrower shall make such payment in Dollars in the Dollar Equivalent of the
Foreign Currency payment amount. Subject to Section 2.6(c), each payment of any Advance pursuant
to this Section or any other provision of this Agreement shall be made in a manner such that all
Advances comprising part of the same Borrowing are paid in whole or ratably in part.

     (b) Payments by Borrowers; Presumptions by Administrative Agents. Unless the
Applicable Administrative Agent shall have received notice from the Applicable Borrower prior to
the date on which any payment is due to the Applicable Administrative Agent for the account of the
applicable Lenders or the Issuing Lenders hereunder that the Applicable Borrower will not make such
payment, the Applicable Administrative Agent may assume that the Applicable 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 Lenders, as the case may be, the amount due. In such event, if the
Applicable Borrower has not in fact made such payment, then each of the applicable Lenders or the
Issuing Lenders, as the case may be, severally agrees to repay to the Applicable Administrative
Agent forthwith on demand the amount so distributed to such Lender or Issuing Lender, in Same Day
Funds 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 Applicable Administrative Agent, at the Overnight
Rate. A notice of the Applicable Administrative Agent to any Lender or Applicable Borrower with
respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

     (c) Payment Procedures. The Borrowers shall make each payment of any amount under this
Agreement and under any other Credit Document not later than 11:00 a.m. (Houston, Texas time or
Calgary, Alberta Canada time, as applicable) on the day when due to the Applicable Administrative
Agent at the Applicable Administrative Agent’s (or such other location as the Applicable
Administrative Agent shall designate in writing to the Applicable Borrower) in Same Day Funds.
Without limiting the generality of the foregoing, the US Administrative Agent may require that any
payments due under this Agreement under the US Facility be made in the United States and the
Canadian Administrative agent may require that any payments due under this Agreement under the
Canadian Facilities be made in Canada. The Applicable Administrative Agent will promptly
thereafter, and in any event prior to the close of business on the day any timely payment is made,
cause to be distributed like funds relating to the payment of principal, interest or fees ratably
(other than amounts payable solely to any specific Lender Party pursuant to Sections 2.4, 2.11,
2.12, 2.13, 2.15, and 9.1 but after taking into account payments effected pursuant to Section
2.14(f)) in accordance with each Lender’s Applicable Percentage to the

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Lenders for the account of their respective Lending Offices, and like funds relating to the
payment of any other amount payable to any Lender to such Lender for the account of its Lending
Office, in each case to be applied in accordance with the terms of this Agreement. Upon receipt of
other amounts due solely to a specific Lender Party, the Applicable Administrative Agent shall
distribute such amounts to the appropriate party to be applied in accordance with the terms of this
Agreement.

     (d) Non-Business Day Payments. Whenever any payment shall be stated to be due on a
day other than a Business Day, such payment shall be made on the next succeeding Business Day, and
such extension of time shall in such case be included in the computation of payment of interest or
fees, as the case may be; provided that if such extension would cause payment of interest
on or principal of Eurocurrency Advances or B/A Advances to be made in the next following calendar
month, such payment shall be made on the next preceding Business Day.

     (e) Computations. All computations of interest and fees shall be made by the
Applicable Administrative Agent on the basis of a year of 365/366 days for Base Rate Advances based
on the Adjusted Base Rate or the Canadian Base Rate (other than Base Rate Advances based on the
Federal Funds Rate or a Daily One-Month LIBOR) and a year of 360 days for all other interest and
fees, in each case for the actual number of days (including the first day, but excluding the last
day) occurring in the period for which such interest or fees are payable. Each determination by
the Applicable Administrative Agent of an amount of interest or fees shall be conclusive and
binding for all purposes, absent manifest error. For purposes of the Interest Act (Canada) and
disclosure thereunder, the annual rates of interest to which the rates determined in accordance
with the provisions hereof on the basis of a period of calculation less than a year are equivalent,
are the rates so determined (a) multiplied by the actual number of days in the one year period
beginning on the first day of the period of calculation, and (b) divided by the number of days in
the period of calculation. The principle of deemed reinvestment of interest shall not apply to any
interest calculation under this Agreement; all interest payments to be made hereunder shall be paid
without allowance or deduction for deemed reinvestment or otherwise. The rates of interest
specified in this Agreement are intended to be nominal rates and not effective rates. Interest
calculated hereunder shall be calculated using the nominal rate method and not the effective rate
method of calculation.

     (f) Sharing of Payments, Etc.

(i) Each Canadian Lender agrees that if it shall, through the exercise of a right of
banker’s lien, setoff or counterclaim against a Borrower or any other Credit Party, or
pursuant to a secured claim or other security or interest arising from, or in lieu of, such
secured claim, received by such Canadian Lender under any applicable Debtor Relief Law or
otherwise, or by any other means, obtain payment (voluntary or involuntary) in respect of
any Canadian Advance or the participations in the Canadian Letter of Credit Obligations or
in the Canadian Swingline Advances held by it, as a result of which the unpaid portion of
its Canadian Advances shall be proportionately less than the unpaid portion of the Canadian
Advances or the participations in the Canadian Letter of Credit Obligations or in the
Canadian Swingline Advances held by it of any other Canadian Lender, it shall be deemed
simultaneously to have purchased from such other Canadian Lender at face value, and shall
promptly pay to such other Canadian Lender the purchase price for, a participation in the
Canadian Advances, the participations in the Canadian Letter of Credit Obligations and in
the Canadian Swingline Advances held by it of such other Canadian Lender, so that the
aggregate unpaid amount of the Canadian Advances and participations in Canadian Advances,
Canadian Letter of Credit Obligations and Canadian Swingline Advances held by each Canadian
Lender shall be in the same proportion to the aggregate unpaid amount of all Canadian
Advances, Canadian Letter of Credit Obligations and Canadian Swingline Advances then
outstanding as the amount of its Canadian Advances, and

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participations in Canadian Letter of Credit Obligations and Canadian Swingline Advances
prior to such exercise of banker’s lien, setoff or counterclaim or other event was to the
amount of all Canadian Advances and participations in Canadian Letter of Credit Obligations
and Canadian Swingline Advances, outstanding prior to such exercise of banker’s lien, setoff
or counterclaim or other event; provided, however, that (A) if any such purchase or
purchases or adjustments shall be made pursuant to this Section 2.14(f)(i) and the payment
giving rise thereto shall thereafter be recovered, such purchase or purchases or adjustments
shall be rescinded to the extent of such recovery and the purchase price or prices or
adjustment restored without interest, and (B) the provisions of this paragraph shall not be
construed to apply to (x) any payment made by the Canadian Borrower pursuant to and in
accordance with the express terms of this Agreement (including the application of funds
arising from the existence of a Defaulting Lender), or (y) any payment obtained by a Lender
as consideration for the assignment of or sale of a participation in any of its Advances or
participations in Canadian Letter of Credit Obligations or Swingline Advances to any
assignee or participant, other than to a Borrower or any Subsidiary thereof (as to which the
provisions of this paragraph shall apply).

(ii) Each US Lender agrees that if it shall, through the exercise of a right of banker’s
lien, setoff or counterclaim against a Borrower or any other Credit Party, or pursuant to a
secured claim or other security or interest arising from, or in lieu of, such secured claim,
received by such US Lender under any applicable Debtor Relief Law or otherwise, or by any
other means, obtain payment (voluntary or involuntary) in respect of any US Advance or the
participations in the US Letter of Credit Obligations or in the US Swingline Advances held
by it, as a result of which the unpaid portion of its US Advances shall be proportionately
less than the unpaid portion of the US Advances or the participations in the US Letter of
Credit Obligations or in the US Swingline Advances held by it of any other US Lender, it
shall be deemed simultaneously to have purchased from such other US Lender at face value,
and shall promptly pay to such other US Lender the purchase price for, a participation in
the US Advances, the participations in the US Letter of Credit Obligations and in the US
Swingline Advances held by it of such other US Lender, so that the aggregate unpaid amount
of the US Advances and participations in US Advances, US Letter of Credit Obligations and US
Swingline Advances held by each US Lender shall be in the same proportion to the aggregate
unpaid amount of all US Advances, US Letter of Credit Obligations and US Swingline Advances
then outstanding as the amount of its US Advances, and participations in US Letter of Credit
Obligations and US Swingline Advances prior to such exercise of banker’s lien, setoff or
counterclaim or other event was to the amount of all US Advances and participations in US
Letter of Credit Obligations and US Swingline Advances, outstanding prior to such exercise
of banker’s lien, setoff or counterclaim or other event; provided, however, that (A) if any
such purchase or purchases or adjustments shall be made pursuant to this Section 2.14(f)(ii)
and the payment giving rise thereto shall thereafter be recovered, such purchase or
purchases or adjustments shall be rescinded to the extent of such recovery and the purchase
price or prices or adjustment restored without interest, and (B) the provisions of this
paragraph shall not be construed to apply to (x) any payment made by the US Borrower
pursuant to and in accordance with the express terms of this Agreement (including the
application of funds arising from the existence of a Defaulting Lender), or (y) any payment
obtained by a Lender as consideration for the assignment of or sale of a participation in
any of its Advances or participations in US Letter of Credit Obligations or Swingline
Advances to any assignee or participant, other than to the Borrower or any Subsidiary
thereof (as to which the provisions of this paragraph shall apply).

Each Borrower consents to the foregoing and agrees, to the extent it may effectively do so
under applicable Legal Requirement, that any Lender acquiring a participation pursuant to the
foregoing arrangements may exercise against such Borrower rights of setoff and counterclaim with
respect to such

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participation as fully as if such Lender were a direct creditor of such Borrower in the amount of
such participation.

Section 2.15 Taxes. Any and all payments by or on account of any obligation of the
respective Borrowers hereunder or under any other Credit Document shall be made free and clear of
and without reduction or withholding for any Indemnified Taxes or Other Taxes, provided
that if the Applicable Borrower shall be required by applicable Legal Requirement 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 applicable Administrative Agent,
Lender or Issuing Lender, as the case may be, receives an amount equal to the sum it would have
received had no such deductions been made, (ii) such Borrower shall make such deductions and (iii)
such Borrower shall timely pay the full amount deducted to the relevant Governmental Authority in
accordance with applicable Legal Requirement.

     (a) Payment of Other Taxes by the Borrowers. Without limiting the provisions of the
terms set forth in this Section above, each Borrower shall timely pay any Other Taxes to the
relevant Governmental Authority in accordance with applicable Legal Requirement.

     (b) Indemnification by the Borrowers. The Canadian Borrower shall, and does hereby,
indemnify the Canadian Administrative Agent, each Canadian Lender and the Canadian Issuing Lender,
and the US Borrower shall, and does hereby, indemnify the US Administrative Agent, each US Lender
and the US Issuing Lender, in any case, 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 such Administrative
Agent, such Lender or such Issuing Lender, as the case may be, and any penalties, interest and
reasonable expenses arising therefrom or with respect thereto (except such expenses, interest and
penalties resulting from gross negligence or willful misconduct of such Administrative Agent, such
Lender or such Issuing Lender, as determined by a court of competent jurisdiction by final and
nonappealable judgment), 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 a Borrower by a Lender or an Issuing Lender (with a copy
to the Applicable Administrative Agent), or by the Applicable Administrative Agent on its own
behalf or on behalf of a Lender or an Issuing Lender, shall be conclusive absent manifest error.

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

     (d) Status of Lenders.

(i) Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax
under the law of the jurisdiction in which a Borrower is resident for tax purposes, or any
treaty to which such jurisdiction is a party, with respect to payments hereunder or under
any other Credit Document shall deliver to the Applicable Borrower (with a copy to the
Applicable Administrative Agent), prior to the Effective Date (or upon becoming a Lender by
assignment or participation) and at any time or times prescribed by applicable Legal
Requirement or reasonably requested by the Applicable Borrower or the Applicable
Administrative Agent, such properly completed and executed documentation prescribed by
applicable Legal Requirement as will permit such payments to be made without withholding or
at a reduced rate of withholding. In addition, any

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Lender, if requested by the Applicable Borrower or the Applicable Administrative Agent,
shall deliver such other documentation prescribed by applicable Legal Requirement or
reasonably requested by the Applicable Borrower or the Applicable Administrative Agent as
will enable such Borrower or such Administrative Agent to determine whether or not such
Lender is subject to backup withholding or information reporting requirements.

(ii) Without limiting the generality of the foregoing, in the event that a Borrower is
resident for tax purposes in the United States, any Foreign Lender shall deliver to the US
Borrower and the US 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 the US Borrower or the
US Administrative Agent, but only if such Foreign Lender is legally entitled to do so),
whichever of the following is applicable:

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

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

     (C) 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 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 the Applicable 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

     (D) Any other form prescribed by applicable Legal Requirement 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 Legal Requirement to permit the Company to determine the withholding or
deduction required to be made.

(iii) Without limiting the obligations of the Lenders set forth above regarding delivery of
certain forms and documents to establish each Lender’s status for U.S. withholding tax
purposes, each Lender agrees promptly to deliver to the Applicable Administrative Agent or
the Applicable Borrower, as the Applicable Administrative Agent or the Applicable Borrower
shall reasonably request, on or prior to the Effective Date, and in a timely fashion
thereafter, such other documents and forms required by any relevant taxing authorities under
any Legal Requirement of any other jurisdiction, duly executed and completed by such Lender,
as are required under such Legal Requirements to confirm such Lender’s entitlement to any
available exemption from, or reduction of, applicable withholding taxes in respect of all
payments to be made to such Lender outside of the U.S. by the Borrowers pursuant to this
Agreement or otherwise to establish such Lender’s status for withholding tax purposes in
such other jurisdiction.

(iv) Each Lender shall promptly (i) notify the Applicable Administrative Agent of any change
in circumstances which would modify or render invalid any such claimed exemption or
reduction, and (ii) take such steps as shall not be materially disadvantageous to it, in the
reasonable judgment of such Lender, and as may be reasonably necessary (including the
re-designation of its Lending Office) to avoid any requirement of applicable Legal
Requirements of

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any such jurisdiction that any Borrower make any deduction or withholding for taxes from
amounts payable to such Lender.

     (e) Treatment of Certain Refunds. If any Lender Party determines, in its sole
discretion, that it has received a refund of any Taxes or Other Taxes as to which it has been
indemnified by any Borrower or with respect to which any Borrower has paid additional amounts
pursuant to this Section, it shall pay to such Borrower an amount equal to such refund (but only to
the extent of indemnity payments made, or additional amounts paid, by such Borrower under this
Section with respect to the Taxes or Other Taxes giving rise to such refund), net of all
out-of-pocket expenses of such Administrative Agent, such Lender or such Issuing Lender, 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 each Borrower, upon the request of
such Administrative Agent, such Lender or such Issuing Lender, agrees to repay the amount paid over
to such Borrower (plus any penalties, interest or other charges imposed by the relevant
Governmental Authority) to such Administrative Agent, such Lender or such Issuing Lender in the
event such Administrative Agent, such Lender or such Issuing Lender is required to repay such
refund to such Governmental Authority. This subsection shall not be construed to require any
Lender Party to make available its tax returns (or any other information relating to its taxes that
it deems confidential) to any Borrower or any other Person.

     (f) FATCA. In the case of any Lender Party that would be subject to withholding tax
imposed by FATCA on payments made on account of any obligation of the Borrowers hereunder if such
Lender Party fails to comply with the applicable reporting requirements of FATCA (including those
contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender Party shall
provide such documentation prescribed by applicable Legal Requirement (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the
Applicable Borrower or the Applicable Administrative Agent as may be necessary for the Borrowers to
comply with their obligations under FATCA, to determine that such Lender Party has complied with
such Lender Party’s obligations under FATCA.

Section 2.16 Replacement of Lenders. Mitigation Obligations; Replacement of Lenders.

     (a) Designation of a Different Lending Office. If any Lender requests compensation
under Section 2.13, or requires a Borrower to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 2.15, or suspends its
obligation to continue, or Convert Advances into, Eurocurrency Advances pursuant to Section
2.6(c)(vi) or Section 2.11, then such Lender shall use reasonable efforts to designate a different
lending office for funding or booking its Credit Extensions hereunder or to assign its rights and
obligations hereunder to another of its offices, branches or affiliates, if, in the reasonable
judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts
payable pursuant to Section 2.13 or 2.15, as the case may be, in the future or if applicable, would
avoid the effect of Section 2.6(c)(vi) or Section 2.11, (ii) would not subject such Lender to any
unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. Each
Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in
connection with any such designation or assignment.

     (b) Replacement of Lenders. If (i) any Lender requests compensation under Section
2.13, (ii) a 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, (iii) any Lender suspends its
obligation to continue, or Convert Advances into, Eurocurrency Advances pursuant to Section
2.6(c)(vi) or Section 2.11, (iv) any Lender is a Defaulting Lender, or (v) any Lender (a
“Non-Consenting Lender”) refuses to consent to an amendment, modification or waiver of this
Agreement that requires consent of 100% of the Lenders pursuant to Section 9.2(c), consent of 100%
of the US Lenders pursuant to Section 9.2(a) or 100% of the

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Canadian Lenders pursuant to Section 9.2(b) (any such Lender under the preceding clauses (i)
— (iv), a “Subject Lender”), and, in the case of a Lender under clause (i) — (iii), such
Lender has declined or is unable to designate a different lending office in accordance with Section
2.16(a), then the Applicable Borrower may as to any Subject Lender, at its sole expense and effort,
and the Applicable Administrative Agent may as to any Defaulting Lender (but neither shall be
obligated to), upon notice to the Subject Lender, the Borrowers (if requested by the Applicable
Administrative Agent), and the Applicable Administrative Agent (if requested by the Borrowers),
require such Subject Lender to assign and delegate, without recourse (in accordance with and
subject to the restrictions contained in, and consents required by, Section 9.6), all of its
interests, rights and obligations under this Agreement and the related Credit Documents to an
assignee that shall assume such obligations (which assignee may be another Lender, if a Lender
accepts such assignment), provided that:

(A) the Applicable Borrower shall have paid to the Applicable Administrative Agent the
assignment fee specified in Section 9.6;

(B) such Subject Lender shall have received payment of an amount equal to the outstanding
principal of its Advances and participations in outstanding Letter of Credit Obligations and
funded participations in outstanding Swingline Advances, accrued interest thereon, accrued
fees and all other amounts payable to it hereunder and under the other Credit Documents
(including any amounts under Section 2.12 other than to a Defaulting Lender) from the
assignee (to the extent of such outstanding principal and accrued interest and fees) or the
Applicable Borrower (in the case of all other amounts);

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

(D) in the event such Subject Lender is a Non-Consenting Lender, each assignee shall
consent, at the time of such assignment, to each matter in respect of which such Subject
Lender was a Non-Consenting Lender; and

(E) such assignment does not conflict with applicable Legal Requirements.

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 the Applicable Borrower
to require such assignment and delegation cease to apply.

Section 2.17 Designation of a Canadian Borrower. The Company may at any time, upon not
less than 30 days’ written notice from the Company to the US Administrative Agent and HSBC (or such
shorter period as may be agreed by the US Administrative Agent and HSBC in their respective sole
discretion) designate any First Tier Foreign Subsidiary that is organized under the laws of Canada
as the “Canadian Borrower” to receive Credit Extensions under the Canadian Facility hereunder, by
delivering to the US Administrative Agent (which shall promptly deliver copies thereof to each US
Lender) and HSBC a duly executed notice and agreement in such form and substance as may be
reasonably required by the US Administrative Agent and HSBC evidencing the agreement of such
designated Foreign Subsidiary to be bound by the terms hereof, and to assume all of the obligations
hereunder, as the Canadian Borrower. The parties hereto acknowledge and agree that the
effectiveness of such designation of such Foreign Subsidiary as the Canadian Borrower and the
access to the Canadian Facility by the Canadian Borrower is subject to the satisfaction of the
following additional conditions on or prior to the effective date thereof:

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     (a) No Default shall have occurred and be continuing both before and after giving effect to
such designation.

     (b) Such First Tier Foreign Subsidiary that would be the Canadian Borrower and its Canadian
Subsidiaries must all be Restricted Subsidiaries.

     (c) The Administrative Agents and the Lenders shall have received such supporting resolutions,
incumbency certificates, opinions of counsel, Security Documents, and other documents, governmental
certificates, agreements, lien searches, due diligence material, and other information, in form,
content and scope reasonably satisfactory to the Administrative Agents, as may be required by the
Administrative Agents in their sole discretion, and Canadian Notes signed by such First Tier
Foreign Subsidiary to the extent any Canadian Lender so requires.

     (d) The aggregate Canadian Commitments plus any remaining US Commitment of HSBC Bank USA, N.A.
shall not exceed such Lender’s US Commitment in effect immediately prior to such reallocation.

     (e) HSBC shall have executed and delivered to the US Administrative Agent (i) a duly executed
agreement in such form and substance as may be reasonably required by the US Administrative Agent
evidencing the agreement of HSBC to be bound by the terms hereof, and to assume all of the
obligations hereunder, as the Canadian Administrative Agent, the Canadian Issuing Lender, the
Canadian Swingline Lender, a Canadian Lender and, otherwise, as a Lender Party, and (ii) the
intercreditor agreement referenced in Section 8.10.

     (f) HSBC Bank USA, N.A. shall have consented to such designation and agreed to the
reallocation of all or a portion of its US Commitment to the Canadian Facility, which consent and
agreement may be made in its sole and absolute discretion and subject to such additional conditions
as it may require. The parties hereto also acknowledge and agree that HSBC may, at its sole and
absolute discretion, determine whether and to what degree to participate in, and provide a
Commitment under, the Canadian Facility.

     (g) An updated Schedule III with the contact information for HSBC shall have been provided to
the US Administrative Agent.

     (h) If, as a result of any reallocation provided in Section 2.1(d), the aggregate US
Outstandings would exceed the aggregate of US Commitments, then the US Borrower shall, on the
effective date of such reallocation, repay or prepay US Advances and US Swingline Advances, deposit
cash in the US Cash Collateral Account, or cause to be issued an irrevocable standby letter of
credit in favor of the US Issuing Lender and issued by a bank or other financial institution
acceptable to the US Issuing Lender, in an aggregate principal amount, such that, after giving
effect thereto, the aggregate US Outstandings shall not exceed the aggregate of all of the US
Commitments.

     (i) The US Borrower shall have paid any amounts (or deposited cash in the applicable Cash
Collateral Account, or caused to be issued an irrevocable standby letter of credit in favor of the
US Issuing Lender and issued by a bank or other financial institution acceptable to such Issuing
Lender) due under Section 2.7(c)(i) hereof on the effective date of such designation.

     (j) All other conditions, if any, as may be required by HSBC shall have been satisfied or
waived by HSBC.

     (k) If the Administrative Agents and HSBC as the sole Canadian Lender agree that such First
Tier Foreign Subsidiary shall be entitled to receive Credit Extensions hereunder under the Canadian
Facility,

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then promptly following the confirmation of the above conditions, the Administrative Agents
shall send a notice to the Company and the Lenders specifying the effective date upon which such
First Tier Foreign Subsidiary shall constitute the Canadian Borrower for purposes hereof,
whereupon, as of such effective date, each of the Canadian Lenders agrees to permit such Canadian
Borrower to receive Credit Extensions hereunder under the Canadian Facility, on the terms and
subject to the conditions set forth herein, and each of the parties hereto agrees that, from and
after such effective date, such First Tier Foreign Subsidiary shall be the Canadian Borrower for
all purposes of this Agreement.

Section 2.18 Defaulting Lender Provisions.

     (a) Defaulting Lender Adjustments. Notwithstanding anything to the contrary contained
in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as such Lender
is no longer a Defaulting Lender, to the extent permitted by Legal Requirement:

     (i) Waivers and Amendments. Such Defaulting Lender’s right to approve or
disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted
as set forth in the definition of Majority Lenders.

     (ii) Defaulting Lender Waterfall. Any payment of principal, interest, fees or
other amounts received by the Applicable Administrative Agent for the account of such Defaulting
Lender (whether voluntary or mandatory, at maturity, pursuant to Article VII or otherwise) or
received by the Applicable Administrative Agent from a Defaulting Lender pursuant to Section 7.4
shall be applied at such time or times as may be determined by Applicable Administrative Agent
as follows: first, to the payment of any amounts owing by such Defaulting Lender to such
Administrative Agent and to the other Administrative Agent hereunder; second, to the payment on
a pro rata basis of any amounts owing by such Defaulting Lender to any Issuing Lender or any
Swingline Lender hereunder; third, on a pro rata basis, to Cash Collateralize the Issuing
Lenders’ and Swingline Lenders’ Fronting Exposure with respect to such Defaulting Lender in
accordance with Section 2.18(c); fourth, as Applicable Borrower may request (so long as no
Default or Event of Default exists), to the funding of any Advance in respect of which such
Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as
determined by the Applicable Administrative Agent; fifth, if so determined by the Applicable
Administrative Agent and Applicable Borrower, to be held in a deposit account and released pro
rata in order to (x) satisfy such Defaulting Lender’s potential future funding obligations with
respect to Advances under this Agreement and (y) Cash Collateralize the Issuing Lenders’ and
Swingline Lenders’ future Fronting Exposure with respect to such Defaulting Lender with respect
to future Letters of Credit issued and Swingline Advances made under this Agreement, in
accordance with Section 2.18(c); sixth, to the payment of any amounts owing to the Lenders, the
Issuing Lenders or Swingline Lenders as a result of any judgment of a court of competent
jurisdiction obtained by any Lender, the Issuing Lenders or Swingline Lenders against such
Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this
Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any
amounts owing to any Borrower as a result of any judgment of a court of competent jurisdiction
obtained by such Borrower against such Defaulting Lender as a result of such Defaulting Lender’s
breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as
otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a
payment of the principal amount of any Advances or Letter of Credit Obligations in respect of
which such Defaulting Lender has not fully funded its appropriate share, and (y) such Advances
were made or the related Letters of Credit were issued at a time when the conditions set forth
in Section 3.2 were satisfied or waived, such payment shall be applied solely to pay the
Advances of, and Letter of Credit Obligations owed to, all Non-Defaulting Lenders on a pro rata
basis prior to being applied to the payment of any Advances of, or Letter of Credit Obligations
owed to, such Defaulting Lender until such time as all Advances and funded and

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unfunded participations in Letter of Credit Obligations and Swingline Advances are held by
the Lenders pro rata in accordance with the Applicable Commitments under the applicable Facility
without giving effect to Section 2.18(a)(vi). Any payments, prepayments or other amounts paid or
payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting
Lender or to post Cash Collateral pursuant to this Section 2.18(a)(ii) shall be deemed paid to
and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

     (iii) Certain Fees.

     (A) No Defaulting Lender shall be entitled to receive any Commitment Fee for
any period during which that Lender is a Defaulting Lender (and the Borrowers shall
not be required to pay any such fee that otherwise would have been required to have
been paid to that Defaulting Lender).

     (B) No Defaulting Lender shall be entitled to receive letter of credit fees for
any period during which that Lender is a Defaulting Lender, except to the extent
allocable to its Applicable Percentage of the stated amount of Letters of Credit for
which it has provided Cash Collateral pursuant to Section 2.3(h).

     (C) With respect to any letter of credit fee not required to be paid to any
Defaulting Lender pursuant to clause (B) above, the Applicable Borrower shall (x)
pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to
such Defaulting Lender with respect to such Defaulting Lender’s participation in
Letter of Credit Obligations that has been reallocated to such Non-Defaulting Lender
pursuant to clause (iv) below, (y) pay to each Issuing Lender and each Swingline
Lender, as applicable, the amount of any such fee otherwise payable to such
Defaulting Lender to the extent allocable to such Issuing Lender’s or Swingline
Lender’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay
the remaining amount of any such fee.

     (iv) Reallocation of Participations to Reduce Fronting Exposure. All or any part
of such Defaulting Lender’s participation in Canadian Letter of Credit Obligations, the US
Letter of Credit Obligations, and Swingline Advances, as the case may be, shall be reallocated
among the Non-Defaulting Lenders in such applicable Facility in accordance with their respective
Applicable Percentages (calculated without regard to such Defaulting Lender’s applicable
Commitments) but only to the extent that (x) the conditions set forth in Section 3.2 are
satisfied at the time of such reallocation (and, unless the Borrowers shall have otherwise
notified the Applicable Administrative Agent at such time, the Borrowers shall be deemed to have
represented and warranted that such conditions are satisfied at such time), (y) such
reallocation does not cause the sum of (1) the aggregate amount of US Advances owing to such
Non-Defaulting Lender, plus (2) such Non-Defaulting Lender’s participation in US Swingline
Advances and US Letters of Credit to exceed such Non-Defaulting Lender’s US Commitment, and (z)
such reallocation does not cause sum of (1) the aggregate amount of Canadian Advances owing to
such Non-Defaulting Lender, plus (2) such Non-Defaulting Lender’s participation in Canadian
Swingline Advances and Canadian Letters of Credit to exceed such Non-Defaulting Lender’s
Canadian Commitment. No reallocation hereunder shall constitute a waiver or release of any
claim of any party hereunder against a Defaulting Lender arising from that Lender having become
a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such
Non-Defaulting Lender’s increased exposure following such reallocation.

     (v) Cash Collateral, Repayment of Swingline Advances. If the reallocation
described in clause (iv) above cannot, or can only partially, be effected, the Applicable
Borrower shall, without prejudice to any right or remedy available to it hereunder or under law,
(x) first, prepay Swingline

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Advances in an amount equal to the Applicable Swingline Lender’s Fronting Exposure and (y)
second, Cash Collateralize the Issuing Lenders’ Fronting Exposure in accordance with the
procedures set forth in Section 2.18(c).

     (b) Defaulting Lender Cure. If the Borrowers, Applicable Administrative Agents, the
Applicable Swingline Lender and Applicable Issuing Lender agree in writing that a Lender is no
longer a Defaulting Lender, the Applicable Administrative Agent will so notify the parties hereto,
whereupon as of the effective date specified in such notice and subject to any conditions set forth
therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to
the extent applicable, purchase at par that portion of outstanding Advances of the other Lenders or
take such other actions as the Applicable Administrative Agent may determine to be necessary to
cause the Advances and funded and unfunded participations in Letters of Credit and Swingline
Advances to be held pro rata by the applicable Lenders in accordance with the applicable
Commitments under the applicable Facility (without giving effect to Section 2.18(a)(iv), whereupon
such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made
retroactively with respect to fees accrued or payments made by or on behalf of any Borrower while
that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise
expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will
constitute a waiver or release of any claim of any party hereunder arising from that Lender having
been a Defaulting Lender.

     (c) Cash Collateral. At any time that there shall exist a Defaulting Lender, within
two Business Days following the written request of the Applicable Administrative Agent or the
Applicable Issuing Lender, the Applicable Borrower shall Cash Collateralize the Applicable Issuing
Lender’s and the Applicable Swingline Lender’s Fronting Exposure with respect to such Defaulting
Lender (determined after giving effect to Section 2.18(a)(iv) and any Cash Collateral provided by
such Defaulting Lender) in an amount equal to such Fronting Exposure.

     (i) Grant of Security Interest. The US Borrower, and to the extent provided by any
Defaulting Lender, such Defaulting Lender, hereby grants to the US Administrative Agent, for the
benefit of the Secured Parties, and agrees to maintain, a first priority security interest in
all such Cash Collateral as security for the Secured Obligations, to be applied pursuant to
Section 2.18(a)(ii) above. The Canadian Borrower, and to the extent provided by any Defaulting
Lender, such Defaulting Lender, hereby grants to the Canadian Administrative Agent, for the
benefit of the Canadian Secured Parties, and agrees to maintain, a first priority security
interest in all such Cash Collateral as security for the Canadian Obligations, to be applied
pursuant to Section 2.18(a)(ii) above. If at any time the Applicable Administrative Agent
determines that Cash Collateral is subject to any right or claim of any Person other than the
Secured Parties as herein provided, or that the total amount of such Cash Collateral is less
than 100% of the Fronting Exposure of the then existing Defaulting Lenders, the Applicable
Borrower will, promptly upon demand by the Applicable Administrative Agent, pay or provide to
the Applicable Administrative Agent additional Cash Collateral in an amount sufficient to
eliminate such deficiency (after giving effect to any Cash Collateral provided by the Defaulting
Lender).

     (ii) Application. Notwithstanding anything to the contrary contained in this
Agreement, Cash Collateral provided under this Section 2.18 in respect of Letters of Credit and
Swingline Advances shall be applied to the satisfaction of the Defaulting Lender’s obligation to
fund participations in respect of Letter of Credit Obligations and Swingline Advances
(including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such
obligation) for which the Cash Collateral was so provided, prior to any other application of
such property as may otherwise be provided for herein.

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(iii) Termination of Requirement. Cash Collateral (or the appropriate portion
thereof) provided to reduce any Issuing Lender’s or Swingline Lender’s Fronting Exposure shall
no longer be required to be held as Cash Collateral pursuant to this Section 2.18(c) and all
such Cash Collateral shall be promptly thereafter be returned to the Applicable Borrower
following (A) the elimination of the applicable Fronting Exposure (including by the termination
of Defaulting Lender status of the applicable Lender) so long as no Default exists, or (B) the
determination by the Applicable Administrative Agent and each Issuing Lender and each Swingline
Lender that there exists excess Cash Collateral and no Default exists; provided that, (x)
subject to the other clauses of this Section 2.18, the Person providing Cash Collateral and each
Issuing Lender and each Swingline Lender may agree that Cash Collateral shall be held to support
future anticipated Fronting Exposure or other obligations, (y) to the extent that such Cash
Collateral was provided by the Applicable Borrower, such Cash Collateral shall remain subject to
the security interest granted pursuant to the Credit Documents, and (z) to the extent that such
Cash Collateral was provided by a Borrower, during the existence of an Event of Default the
application of such Cash Collateral shall be subject to Section 2.3(h)(iv) and (v) above,
Section 2.18(a)(ii) and Section 2.18(c)(ii).

ARTICLE III

CONDITIONS PRECEDENT

Section 3.1 Conditions Precedent to Effectiveness. The Restated Agreement shall be amended
and restated in its entirety as set forth herein upon the occurrence of the following conditions
precedent on or before the Effective Date:

     (a) Documentation. The US Administrative Agent shall have received the following,
duly executed by all the parties thereto, in form and substance reasonably satisfactory to the US
Administrative Agent and the Lenders:

(i) this Agreement and all attached Exhibits and Schedules;

(ii) the Notes payable to the order of each applicable Lender, as requested by such Lender;

(iii) the US Guaranty;

(iv) the US Security Agreement, together with appropriate UCC-1 and UCC-3 financing
statements, if any, necessary or desirable for filing with the appropriate authorities and
any other documents, agreements, or instruments necessary to create, perfect or maintain an
Acceptable Security Interest in the Collateral described in such Security Agreements;

(v) the US Pledge Agreement together with stock powers executed in blank, UCC-1 and UCC-3
financing statements, if any, necessary or desirable for filing with the appropriate
authorities and any other documents, agreements, or instruments necessary to create, perfect
or maintain an Acceptable Security Interest in the Collateral described in the such Pledge
Agreement;

(vi) evidence that the US Administrative Agent has an Acceptable Security Interest in the US
Collateral;

(vii) a certificate from an authorized officer of the Company dated as of the Effective Date
stating that as of such date (A) all representations and warranties of the Company set forth
in this Agreement are true and correct in all material respects (except that such
materiality qualifier shall

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not be applicable to any representations and warranties that already are qualified or
modified by materiality in the text thereof) and (B) no Default has occurred and is
continuing;

(viii) a secretary’s certificate from each Credit Party certifying such Person’s (A)
officers’ incumbency, (B) authorizing resolutions, (C) organizational documents, and (D)
governmental approvals, if any, with respect to the Credit Documents to which such Person is
a party;

(ix) certificates of good standing for each Credit Party in (a) the state, province or
territory in which each such Person is organized and (b) each state, province or territory
in which such good standing is necessary except where the failure to be in good standing
could not reasonably be expected to result in a Material Adverse Change, which certificates
shall be dated a date not earlier than 30 days prior to Effective Date;

(x) a legal opinion of Latham & Watkins LLP outside counsel to the Credit Parties, in form
and substance reasonably acceptable to the US Administrative Agent; and

(xi) such other documents, governmental certificates, agreements, and lien searches as any
Lender Party may reasonably request.

     (b) Consents; Authorization; Conflicts. The Company shall have received any consents,
licenses and approvals required in accordance with all Legal Requirements, or in accordance with
any document, agreement, instrument or arrangement to which the Company, or any of its Restricted
Subsidiaries is a party, in connection with the execution, delivery, performance, validity and
enforceability of this Agreement and the other Credit Documents. In addition, the Company and its
Restricted Subsidiaries shall have all such material consents, licenses and approvals required in
connection with the continued operation of the Company and its Restricted Subsidiaries, and such
approvals shall be in full force and effect, and all applicable waiting periods shall have expired
without any action being taken or threatened by any competent authority which would restrain,
prevent or otherwise impose adverse conditions on this Agreement and the actions contemplated
hereby.

     (c) Representations and Warranties. The representations and warranties contained in
Article IV and in each other Credit Document shall be true and correct in all material respects
(except that such materiality qualifier shall not be applicable to any representations and
warranties that already are qualified or modified by materiality in the text thereof) on and as of
the Effective Date before and after giving effect to the initial Borrowings or issuance (or deemed
issuance) of Letters of Credit and to the application of the proceeds from such Borrowing, as
though made on and as of such date.

     (d) Payment of Fees. The Company shall have paid (i) the fees and expenses required
to be paid as of the Effective Date by Sections 2.9(e) and 9.1 and the Fee Letter, (ii) all fees
and expenses outstanding under the Restated Agreement as detailed to the Borrower by HSBC Bank
Canada as Canadian administrative agent thereunder or by Wells Fargo Capital Finance as US
administrative agent thereunder, and (iii) all outstanding “Advances”, if any, under and as defined
in, the Restated Agreement (either with immediately available funds or with an initial Borrowing
hereunder as provided in Section 2.1(e)).

     (e) Other Proceedings. No action, suit, investigation or other proceeding (including,
without limitation, the enactment or promulgation of a statute or rule) by or before any arbitrator
or any Governmental Authority shall be threatened or pending and no preliminary or permanent
injunction or order by a state or federal court shall have been entered (i) in connection with this
Agreement or any transaction contemplated hereby or (ii) which, in any case, in the judgment of the
US Administrative Agent, could reasonably be expected to result in a Material Adverse Change.

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     (f) Other Information. The US Administrative Agent shall have received, in form and
substance reasonably satisfactory to it, all other reports, documents, and such other instruments
or certifications as it may reasonably request.

     (g) Material Adverse Change. No event or circumstance that could reasonably be
expected to result in a material adverse change in the business, condition (financial or
otherwise), prospects, or results of operations of the Company and its Subsidiaries, taken as a
whole, shall have occurred since December 31, 2010.

     (h) No Default. No Default shall have occurred and be continuing.

     (i) Solvency. The US Administrative Agent shall have received a certificate in form
and substance reasonably satisfactory to the US Administrative Agent from a senior financial
officer of the Company certifying that, before and after giving effect to the initial Borrowings
made hereunder, each Credit Party is Solvent (assuming with respect to each Credit Party that is a
Guarantor, that the fraudulent conveyance savings language contained in the Guaranty applicable to
such Guarantor will be given full effect).

     (j) Delivery of Financial Statements. The US Administrative Agent shall have received
true and correct copies of the unaudited consolidated financial statements of the Company and its
Subsidiaries for the fiscal quarter ended March 31, 2011.

     (k) Notice of Borrowing. If any Advances are to be made on the Effective Date
hereunder, then the US Administrative Agent shall have received a Notice of Borrowing from the
Company, with appropriate insertions and executed by a duly authorized officer of the Company.

Section 3.2 Conditions Precedent to Each Credit Extension. The obligation of each Lender
to make any Credit Extension on the occasion of each Borrowing (including the initial Borrowing),
the obligation of each Issuing Lender to make any Credit Extension (including the deemed issuance
of the Existing US Letters of Credit) and the obligation of each Swingline Lender to make Swingline
Advances, in any such case, shall be subject to the further conditions precedent that on the date
of such Borrowing or such Credit Extension:

     (a) Representations and Warranties. As of the date of the making of such Credit
Extension, the representations and warranties made by any Credit Party or any officer of any Credit
Party contained in the Credit Documents shall be true and correct in all material respects (except
that such materiality qualifier shall not be applicable to any representations and warranties that
already are qualified or modified by materiality in the text thereof) on such date, except that any
representation and warranty which by its terms is made as of a specified date shall be required to
be true and correct only as of such specified date and each request for the making of any Credit
Extension and the making of such Credit Extension shall be deemed to be a reaffirmation of such
representations and warranties.

     (b) Event of Default. As of the date of the Credit Extension, there shall exist no
Default or Event of Default, and the making of such Credit Extension would not cause a Default or
Event of Default.

Section 3.3 Determinations Under Sections 3.1 and 3.2. For purposes of determining
compliance with the conditions specified in Sections 3.1 and 3.2, each Lender shall be deemed to
have consented to, approved or accepted or to be satisfied with each document or other matter
required thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders
unless an officer of the US Administrative Agent responsible for the transactions contemplated by
the Credit Documents shall have received written notice from such Lender prior to the Credit
Extensions hereunder specifying its objection

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thereto and such Lender shall not have made available to the Applicable Administrative Agent such
Lender’s Credit Extension.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

          The Company represents and warrants as follows:

Section 4.1 Organization. The US Borrower and each of its Restricted Subsidiaries is duly
and validly organized and existing and in good standing under the laws of its jurisdiction of
incorporation or formation and is authorized to do business and is in good standing in all
jurisdictions in which such qualifications or authorizations are necessary except where the failure
to be so qualified or authorized could not reasonably be expected to result in a Material Adverse
Change. Each Credit Party’s type of organization and jurisdiction of incorporation or formation
are set forth on Schedule 4.1.

Section 4.2 Authorization. The execution, delivery, and performance by each Credit Party
of each Credit Document to which such Credit Party is a party and the consummation of the
transactions contemplated thereby (a) are within such Credit Party’s powers, (b) have been duly
authorized by all necessary corporate, limited liability company or partnership action, (c) do not
contravene any articles or certificate of incorporation or bylaws, partnership or limited liability
company agreement binding on or affecting such Credit Party, (d) do not contravene any law or any
contractual restriction binding on or affecting such Credit Party, (e) do not result in or require
the creation or imposition of any Lien prohibited by this Agreement, and (f) do not require any
authorization or approval or other action by, or any notice or filing with, any Governmental
Authority. At the time of each Credit Extension, such Credit Extension and the use of the proceeds
of such Credit Extension are within the Applicable Borrower’s corporate powers, are been duly
authorized by all necessary corporate action, don’t contravene (i) such Borrower’s articles or
certificate (as applicable) of incorporation or bylaws or (ii) any law or any contractual
restriction binding on or affecting such Borrower, will not result in or require the creation or
imposition of any Lien prohibited by this Agreement, and do not require any authorization or
approval or other action by, or any notice or filing with, any Governmental Authority.

Section 4.3 Enforceability. The Credit Documents have each been duly executed and
delivered by each Credit Party that is a party thereto and each Credit Document constitutes the
legal, valid, and binding obligation of each Credit Party that is a party thereto enforceable in
accordance with its terms, except as limited by applicable Debtor Relief Laws or similar laws at
the time in effect affecting the rights of creditors generally and to the effect of general
principles of equity whether applied by a court of law or equity.

Section 4.4 Financial Condition.

     (a) The Company has delivered to the Lenders the financial statements required pursuant to
Section 3.1(j) and such financial statements are true and correct in all material respects and
present fairly the consolidated financial condition of the Company and its Restricted Subsidiaries
as of the date thereof. As of the date of the financial statements referred in the preceding
sentence, there were no material contingent obligations, liabilities for taxes, unusual forward or
long-term commitments, or unrealized or anticipated losses of the applicable Persons, except as
disclosed therein and adequate reserves for such items have been made in accordance with GAAP. All
projections, estimates, and pro forma financial information furnished by the Borrowers were
prepared on the basis of assumptions, data, information, tests, or conditions believed to be
reasonable at the time such projections, estimates, and pro forma financial information were
furnished, but the Credit Parties do not represent and warrant that such projections, estimates or
pro forma information is (or will ultimately prove to have been) accurate.

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     (b) Since December 31, 2010, no event or condition has occurred that could reasonably be
expected to result in Material Adverse Change.

Section 4.5 Ownership and Liens; Real Property. Each Restricted Entity (a) has good and
marketable title to, or a valid and subsisting leasehold interest in, all material real Property,
and good title to all personal Property, used in its business, and (b) none of the Property owned
or leased by a Borrower or a Restricted Subsidiary is subject to any Lien except Permitted Liens.

Section 4.6 True and Complete Disclosure. All written factual information (whether
delivered before or after the date of this Agreement) prepared by or on behalf of a Borrower or a
Restricted Subsidiary and furnished to any Lender Party for purposes of or in connection with this
Agreement, any other Credit Document or any transaction contemplated hereby or thereby is true and
accurate in all material respects on the date as of which such information is dated or certified
and not incomplete by omitting to state any material fact necessary to make such information (taken
as a whole) not materially misleading at such time. There is no fact known to any officer of any
Restricted Entity on the date of this Agreement that has not been disclosed to the Administrative
Agents that could reasonably be expected to result in a Material Adverse Change.

Section 4.7 Litigation. There are no actions, suits, or proceedings pending or, to any
Restricted Entity’s knowledge, threatened against a Borrower or any Restricted Subsidiary, at law,
in equity, or in admiralty, or by or before any Governmental Authority, which could reasonably be
expected to result in a Material Adverse Change. Additionally, except as disclosed in writing to
the Lender Parties, there is no pending or, to the best of the knowledge of any Restricted Entity,
threatened action or proceeding instituted against any Borrower or any of Restricted Subsidiary
which seeks to adjudicate any Borrower or any Subsidiary as bankrupt or insolvent, or seeking
liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or
composition of it or its debts under any Debtor Relief Law, or seeking the entry of an order for
relief or the appointment of a receiver, trustee or other similar official for it or for any
substantial part of its Property; provided that this Section 4.7 does not apply with respect to
Environmental Claims.

Section 4.8 Compliance with Agreements.

     (a) No Restricted Entity is a party to any indenture, loan or credit agreement or any lease or
any other types of agreement or instrument or subject to any charter or corporate restriction or
provision of applicable Legal Requirement, the performance of or compliance with which could
reasonably be expected to cause a Material Adverse Change. No Restricted Entity is in default
under or with respect to any contract, agreement, lease or any other types of agreement or
instrument to which any Restricted Entity is a party and which could reasonably be expected to
cause a Material Adverse Change.

     (b) No Default has occurred and is continuing. Additionally, no event of default under any
financing agreement which would constitute an Event of Default under Section 7.1(f) has occurred
and is continuing.

Section 4.9 Pension Plans. (a) Except for matters that could not reasonably be expected to
result in a Material Adverse Change, all Plans are in compliance in all material respects with all
applicable provisions of ERISA, (b) no Termination Event has occurred with respect to any Plan that
would result in an Event of Default under Section 7.1(i), and, except for matters that could not
reasonably be expected to result in a Material Adverse Change, each Plan has complied with and been
administered in all material respects in accordance with applicable provisions of ERISA and the
Code, (c) no “accumulated funding deficiency” (as defined in Section 302 of ERISA) has occurred
with respect to any Plan, and for plan years after December 31, 2007, no unpaid minimum required
contribution exists with respect to any Plan,

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and there has been no excise tax imposed upon any Borrower or any Subsidiary under Section 4971 of
the Code, (d) to the knowledge of each Borrower, except for matters that could not reasonably be
expected to result in a Material Adverse Change, no Reportable Event has occurred with respect to
any Multiemployer Plan, and each Multiemployer Plan has complied with and been administered in
accordance with applicable provisions of ERISA and the Code, (e) the present value of all benefits
vested under each Plan (based on the assumptions used to fund such Plan) did not, as of the last
annual valuation date applicable thereto, exceed the value of the assets of such Plan allocable to
such vested benefits in an amount that could reasonably be expected to result in a Material Adverse
Change, (f) neither Borrower nor any member of the Controlled Group has had a complete or partial
withdrawal from any Multiemployer Plan for which there is any unsatisfied withdrawal liability that
could reasonably be expected to result in a Material Adverse Change or an Event of Default under
Section 7.1(j), and (g) except for matters that could not reasonably result in a Material Adverse
Change, as of the most recent valuation date applicable thereto, neither Borrower nor any member of
the Controlled Group would become subject to any liability under ERISA if any Borrower or any
Subsidiary has received notice that any Multiemployer Plan is insolvent or in reorganization.
Based upon GAAP existing as of the date of this Agreement and current factual circumstances, no
Restricted Entity has any reason to believe that the annual cost during the term of this Agreement
to any Borrower or any Subsidiary for post-retirement benefits to be provided to the current and
former employees of any Borrower or any Subsidiary under Plans that are welfare benefit plans (as
defined in Section 3(1) of ERISA) could, in the aggregate, reasonably be expected to cause a
Material Adverse Change.

Section 4.10 Environmental Condition.

     (a) Permits, Etc. Each Restricted Entity (i) has obtained all material Environmental
Permits necessary for the ownership and operation of its Properties and the conduct of its
business; (ii) except as set forth in Schedule 4.10, has at all times been and are in material
compliance with all terms and conditions of such Permits and with all other material requirements
of applicable Environmental Laws; (iii) has not received written notice of any material violation
or alleged material violation of any Environmental Law or Environmental Permit; and (iv) is not
subject to any actual or contingent Environmental Claim which could reasonably be expected to cause
a Material Adverse Change.

     (b) Certain Liabilities. Except as set forth on Schedule 4.10, to each Restricted
Entity’s best knowledge, none of the present or previously owned or operated Property of any
Restricted Entity or of any of their former Subsidiaries, wherever located, (i) has been placed on
or proposed to be placed on the National Priorities List, the Comprehensive Environmental Response
Compensation Liability Information System list, or their state or local analogs, or have been
otherwise investigated, designated, listed, or identified as a potential site for removal,
remediation, cleanup, closure, restoration, reclamation, or other response activity under any
Environmental Laws; (ii) is subject to a Lien, arising under or in connection with any
Environmental Laws, that attaches to any revenues or to any Property owned or operated by any
Restricted Entity or any Subsidiary, wherever located, which could reasonably be expected to cause
a Material Adverse Change; or (iii) has been the site of any Release of Hazardous Substances or
Hazardous Wastes from present or past operations which has caused at the site or at any third-party
site any condition that has resulted in or could reasonably be expected to result in the need for
Response that could cause a Material Adverse Change.

     (c) Certain Actions. Without limiting the foregoing, (i) all notices have been
properly filed, and no further action is required under current applicable Environmental Law as to
each Response or other restoration or remedial project undertaken by any Borrower, any of
Subsidiary, or any Borrower’s or such Subsidiary’s former Subsidiaries on any of their presently or
formerly owned or operated Property except where the failure to do so could not reasonably be
expected to cause a Material Adverse Change and (ii) the present and, to each Borrower’s best
knowledge, future liability, if any, of any Borrower or of any

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Subsidiary which could reasonably be expected to arise in connection with requirements under
Environmental Laws will not result in a Material Adverse Change.

Section 4.11 Subsidiaries. As of the Effective Date, neither Borrower has any Subsidiaries
other than those listed on Schedule 4.11. Each Restricted Subsidiary (including any such
Restricted Subsidiary formed or acquired subsequent to the Effective Date), to the extent required,
has complied with the requirements of Section 5.7 and Section 5.11.

Section 4.12 Investment Company Act. No Restricted Entity is an “investment company” or a
company “controlled” by an “investment company” within the meaning of the Investment Company Act of
1940, as amended. No Restricted Entity is subject to regulation under any Federal or state
statute, regulation or other Legal Requirement which limits its ability to incur Debt.

Section 4.13 Reserved.

Section 4.14 Taxes. Proper and accurate (in all material respects), federal, state, local
and foreign tax returns, reports and statements required to be filed (after giving effect to any
extension granted in the time for filing) by any Borrower, any Subsidiary, or any member of the
Affiliated Group as determined under Section 1504 of the Code (hereafter collectively called the
“Tax Group”) have been filed with the appropriate Governmental Authorities, and all Taxes
(which are material in amount) shown to be due and payable on such tax returns have been timely
paid prior to the date on which any fine, penalty, interest, late charge or loss may be added
thereto for non-payment thereof except where contested in good faith and by appropriate proceeding
and for which full or adequate provisions therefor is included on the books of the appropriate
member of the Tax Group. No Restricted Entity nor any other member of the Tax Group has given, or
been requested to give, a waiver of the statute of limitations relating to the payment of any
Taxes. Proper and accurate amounts have been withheld (including withholdings from employee wages
and salaries relating to income tax, employment insurance and Canadian Benefit Plans contributions)
by each Borrower and all other members of the Tax Group from their employees for all periods to
comply in all material respects with the tax, social security and unemployment withholding
provisions of applicable federal, state, local and foreign law. Timely payment of all material
sales and use taxes required by applicable Legal Requirement have been made by each Restricted
Entity and all other members of the Tax Group.

Section 4.15 Permits, Licenses, etc. Each Restricted Entity possesses all permits,
licenses, patents, patent rights or licenses, trademarks, trademark rights, trade names rights, and
copyrights which are material to the conduct of its business. Each Restricted Entity manages and
operates its business in accordance with all applicable Legal Requirements except where the failure
to so manage or operate could not reasonably be expected to result in a Material Adverse Change;
provided that this Section 4.15 does not apply with respect to Environmental Permits.

Section 4.16 Use of Proceeds. The proceeds of the Credit Extensions will be used by the
Borrowers for the purposes described in Section 6.6. Neither Credit Party is engaged in the
business of extending credit for the purpose of purchasing or carrying margin stock (within the
meaning of Regulation U). No proceeds of any Advance will be used to purchase or carry any margin
stock in violation of Regulation T, U or X.

Section 4.17 Condition of Property; Casualties. The material Properties used or to be used
in the continuing operations of any Borrower or any Restricted Subsidiary, are in good working
order and condition, normal wear and tear excepted. Neither the business nor the material
Properties of any Restricted Entity has been affected as a result of any fire, explosion,
earthquake, flood, drought, windstorm, accident, strike or other labor disturbance, embargo,
requisition or taking of Property or

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cancellation of contracts, permits or concessions by a Governmental Authority, riot,
activities of armed forces or acts of God or of any public enemy, which effect could reasonably be
expected to cause a Material Adverse Change.

Section 4.18 Insurance. Each Restricted Entity carries insurance (which may be carried by
the Company on a consolidated basis) with reputable insurers in respect of such of their respective
Properties, in such amounts and against such risks as is customarily maintained by other Persons of
similar size engaged in similar businesses or, self-insure to the extent that is customary for
Persons of similar size engaged in similar businesses.

Section 4.19 Labor Agreements. Except as disclosed in Schedule 4.19, no Restricted Entity
has any contracts with any labor union or employee association nor made commitments to or conducted
negotiations with any labor union or employee association with respect to any future agreements,
and no Restricted Entity is aware of any current attempts to organize or establish any such labor
union or employee association.

Section 4.20 Security Interest. Each Credit Party has authorized the filing of financing
statements sufficient when filed to perfect the Lien created by the Security Documents to the
extent such Lien can be perfected by filing financing statements. When such financing statements
(or corresponding filings in Canada) are filed in the offices noted therein, the Applicable
Administrative Agent will have a valid and perfected security interest in all Collateral that is
capable of being perfected by filing financing statements (or such corresponding filings in Canada)
excluding, for perfection purposes, the Excluded Perfection Collateral.

Section 4.21 OFAC; Anti-Terrorism; Patriot Act. Neither Borrower nor any Subsidiary of a
Borrower is in violation of any of the country or list based economic and trade sanctions
administered and enforced by OFAC or Canadian Anti-Terrorism Laws. Neither Borrower nor any
Subsidiary of a Borrower (a) is a Sanctioned Person or a Sanctioned Entity, (b) a “blocked” person
listed in Annex to Executive Order Nos. 12947, 13099 and 13224 and all modifications thereto or
thereof or on any lists maintained by the OFAC pursuant to the Patriot Act or any other list of
terrorists or terrorist organizations maintained pursuant to any of the rules and regulations of
the OFAC issued pursuant to the Patriot Act or on any other list of terrorists or terrorist
organizations maintained pursuant to the Patriot Act, (c) has its assets located in Sanctioned
Entities, (d) derives revenues from investments in, or transactions with Sanctioned Persons or
Sanctioned Entities, (e) is listed as a Specially Designated Terrorist (as defined in the Patriot
Act), (f) has received any notice from the Secretary of State of the Attorney General of the United
States or any other department, agency or office of the United States claiming a violation or
possible violation of the Patriot Act, (g) is a Person who has been determined by competent
authority to be subject to any of the prohibitions contained in the Patriot Act, or (h) is owned or
controlled by or now acting and/or will be in the future acting for or on behalf of any Person
named in the Annex referred to in clause (b) above or any other list promulgated under the Patriot
Act or any other Person who has been determined to be subject to the prohibitions contained in the
Patriot Act. Each Borrower and each Subsidiary of a Borrower is in compliance in all material
respects with the requirements of the USA Patriot Act and all other requirements contained in the
rules and regulations of the OFAC. No proceeds of any Advance will be used to fund any operations
in, finance any investments or activities in, or make any payments to, a Sanctioned Person or a
Sanctioned Entity.

Section 4.22 Solvency. Before and after giving effect to the making of each Credit
Extension after the Effective Date, the Credit Parties are, when taken as a whole, Solvent.

ARTICLE V

AFFIRMATIVE COVENANTS

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          So long as any Obligation shall remain unpaid, any Lender shall have any Commitment hereunder,
or there shall exist any Letter of Credit Exposure, the Company agrees to comply with the following
covenants.

Section 5.1 Organization. The Company shall, and shall cause each of its Restricted
Subsidiaries to, preserve and maintain its partnership, limited liability company or corporate
existence, rights, franchises and privileges in the jurisdiction of its organization. The Company
shall, and shall cause each of its Restricted Subsidiaries to qualify and remain qualified as a
foreign business entity in each jurisdiction in which qualification is necessary or desirable in
view of its business and operations or the ownership of its Properties and where failure to qualify
could reasonably be expected to cause a Material Adverse Change. Nothing herein contained shall
prevent any transaction permitted by Section 6.7 or Section 6.8.

Section 5.2 Reporting.

     (a) Annual Financial Reports. The Company shall provide, or shall cause to be
provided, to the Administrative Agents with sufficient copies for the Lenders, as soon as
available, but in any event within 120 days (or within five days after such shorter time period as
may be required under Securities Law for the filing of its Form 10-K) after the end of each fiscal
year of the Company commencing with the fiscal year ended December 31, 2011, (i) the unqualified
audited annual Financial Statements, all prepared in conformity with GAAP consistently applied and
all as audited by Grant Thornton or other certified public accountants reasonably acceptable to the
US Administrative Agent, and (ii) the unaudited annual Financial Statements, all prepared in
conformity with GAAP consistently applied, together with a duly completed Compliance Certificate
that shall include a certification by an authorized financial officer of the Company that no
Default has occurred and is continuing.

     (b) Quarterly Financial Reports. The Company shall provide to the Administrative
Agents with sufficient copies for the Lenders, as soon as available, but in any event within 45
days (or within five days after such shorter time period as may be required under Securities Law
for the filing of its Form 10-K) after the end of each of the first three fiscal quarters of each
fiscal year of the Company: (i) an internally prepared Financial Statement as of the close of such
fiscal quarter, (ii) a comparison of such balance sheet and the related consolidated statements of
income, retained earnings, and cash flow to the balance sheet and related consolidated statements
of income, retained earnings, and cash flow for the corresponding fiscal period of the preceding
fiscal year, (iii) any other such items as either Administrative Agent may reasonably request, all
of which shall be certified as accurate by an authorized financial officer of the Company, and (iv)
a duly completed Compliance Certificate that shall include a certification by an authorized
financial officer of the Company that no Default has occurred and is continuing.

     (c) Defaults. The Company shall provide to the Administrative Agents promptly, but in
any event within three Business Days after knowledge of the occurrence thereof, a notice of each
Default or Event of Default known to the Company or to any Restricted Subsidiary, together with a
statement of an officer of the Company setting forth the details of such Default or Event of
Default and the actions which the Company has taken and proposes to take with respect thereto.

     (d) Other Creditors. The Company shall provide to the Administrative Agents promptly
after the giving or receipt thereof, copies of any default notices given or received by US Borrower
or by any Restricted Subsidiary pursuant to the terms of any indenture, loan agreement, credit
agreement, or similar agreement evidencing or relating to Debt in a principal amount equal to or
greater than $5,000,000.

     (e) Litigation. The Company shall provide to the Administrative Agent promptly after
the commencement thereof, notice of all actions, suits, and proceedings before any Governmental
Authority, affecting any Restricted Entity that could reasonably be expected to result in a
Material Adverse Change.

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     (f) Environmental Notices. Promptly upon, and in any event no later than 15 days
after, the receipt thereof, or the acquisition of knowledge thereof, by a Borrower or any
Subsidiary, the Company shall provide the Administrative Agents with a copy of any form of request,
claim, complaint, order, notice, summons or citation received from any Governmental Authority or
any other Person, (i) concerning violations or alleged violations of Environmental Laws, which
seeks to impose liability therefore in excess of $5,000,000, (ii) concerning any action or omission
on the part of any of the Credit Parties or any of their former Subsidiaries in connection with
Hazardous Waste or Hazardous Substances which could reasonably result in the imposition of
liability in excess of $5,000,000 or requiring that action be taken to respond to or clean up a
Release of Hazardous Substances or Hazardous Waste into the environment and such action or clean-up
could reasonably be expected to exceed $5,000,000, including without limitation any information
request related to, or notice of, potential responsibility under CERCLA, or (iii) concerning the
filing of a Lien (other than Permitted Lien) upon, against or in connection with a Borrower, any
Subsidiary, or any of their respective former Subsidiaries, or any of their leased or owned
Property, wherever located.

     (g) Material Changes. The Company shall provide to the Administrative Agents prompt
written notice of any condition or event of which the Company or any Subsidiary has knowledge,
which condition or event has resulted or may reasonably be expected to result in (i) a Material
Adverse Change or (ii) a breach of or noncompliance with any material term, condition, or covenant
of any material contract to which the Company or any Subsidiary is a party or by which their
Properties may be bound which breach or noncompliance could reasonably be expected to result in a
Material Adverse Change.

     (h) Termination Events. As soon as possible and in any event (i) within 30 days after
the Company or any member of the Controlled Group knows or has reason to know that any Termination
Event described in clause (a) of the definition of Termination Event with respect to any Plan has
occurred, and (ii) within 10 days after the Company or any member of the Controlled Group knows or
has reason to know that any other Termination Event with respect to any Plan has occurred, the
Company shall provide to the Administrative Agents a statement of an authorized officer of the
Company describing such Termination Event and the action, if any, which the Company or any
Affiliate of the Company proposes to take with respect thereto;

     (i) Termination of Plans. Promptly and in any event within five Business Days after
receipt thereof by a Borrower or any member of the Controlled Group from the PBGC, the Company
shall provide to the Administrative Agents copies of each notice received by the Company or any
such member of the Controlled Group of the PBGC’s intention to terminate any Plan or to have a
trustee appointed to administer any Plan;

     (j) Other ERISA Notices. Promptly and in any event within five Business Days after
receipt thereof by the Company or any member of the Controlled Group from a Multiemployer Plan
sponsor, the Company shall provide to the Administrative Agents a copy of each notice received by
the Company or any member of the Controlled Group concerning the imposition or amount of withdrawal
liability imposed on the Company or any member of the Controlled Group pursuant to Section 4202 of
ERISA;

     (k) Other Governmental Notices. Promptly and in any event within five Business Days
after receipt thereof by any Restricted Entity, the Company shall provide to the Administrative
Agents a copy of any notice, summons, citation, or proceeding seeking to modify in any material
respect, revoke, or suspend any material contract, license, permit, or agreement with any
Governmental Authority;

     (l) Disputes; etc. The Company shall provide to the Administrative Agents prompt
written notice of (i) any claims, legal or arbitration proceedings, proceedings before any
Governmental Authority, or disputes, or to the knowledge of any Restricted Entity, any such actions
threatened, or affecting any

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Restricted Entity, which, if adversely determined, could reasonably be expected to cause a
Material Adverse Change, or any material labor controversy of which any Restricted Entity has
knowledge resulting in or reasonably considered to be likely to result in a strike against any
Restricted Entity, and (ii) any claim, judgment, Lien or other encumbrance (other than a Permitted
Lien) affecting any Property of any Restricted Entity, if the value of the claim, judgment, Lien,
or other encumbrance affecting such Property shall exceed $5,000,000;

     (m) Annual Budget. Promptly and in any event within 90 days after the end of a fiscal
year (“Preceding Year”), the Company shall provide to the Administrative Agents with
sufficient copies for the Lenders, (i) the projected consolidated statements of income and retained
earnings, and (ii) the projected cash flow budget and operating budget, including the balance sheet
as of the end of the Preceding Year, for the Company and its Restricted Subsidiaries, in any case,
for the twelve month period immediately following the Preceding Year.

     (n) Other Information. Subject to the confidentiality provisions of Section 9.8, the
Company shall provide to the Administrative Agents such other information respecting the business,
operations, or Property of the Company or of any Subsidiary, financial or otherwise, as any Lender
through an Administrative Agent may reasonably request.

Section 5.3 Insurance.

     (a) The Company shall, and shall cause each Restricted Subsidiary to, with reputable insurers
in respect of such of their respective Properties, carry and maintain insurance in such amounts and
against such risks as is customarily maintained by other Persons of similar size engaged in similar
businesses or, self-insure to the extent that is customary for Persons of similar size engaged in
similar businesses. In addition, the Company and its Restricted Subsidiaries shall comply with all
requirements regarding insurance contained in the Security Documents to which it or such Restricted
Subsidiary is a party.

     (b) Certificates of insurance, and endorsements and renewals thereof shall be delivered by the
Company to and retained by the Applicable Administrative Agent. All policies of (i) property
insurance with respect to the US Collateral either shall have attached thereto a lender’s loss
payable endorsement in favor of the US Administrative Agent for its benefit and the ratable benefit
of the US Secured Parties or name the US Administrative Agent as loss payee for its benefit and the
ratable benefit of the US Secured Parties, in either case, in form reasonably satisfactory to the
US Administrative Agent, (ii) property insurance with respect to the Canadian Collateral either
shall have attached thereto a lender’s loss payable endorsement in favor of the Canadian
Administrative Agent for its benefit and the ratable benefit of the Canadian Secured Parties or
name the Canadian Administrative Agent as loss payee for its benefit and the ratable benefit of the
Canadian Secured Parties, in either case, in form reasonably satisfactory to the Canadian
Administrative Agent, and (iii) liability insurance shall name the US Administrative Agent for its
benefit and the ratable benefit of the Secured Parties as an additional insured. All certificates
of insurance shall set forth the coverage, the limits of liability, the name of the carrier, the
policy number, and the period of coverage. All such policies shall contain a provision that
notwithstanding any contrary agreements between a Borrower, its Restricted Subsidiaries, and the
applicable insurance company, such policies will not be canceled or allowed to lapse without
renewal without at least 30 days’ prior written notice to the Applicable Administrative Agent. In
the event that, notwithstanding the “lender’s loss payable endorsement” requirement of this Section
5.3, the proceeds of any insurance policy described above are paid to a Borrower or a Restricted
Entity, the Company shall deliver, or cause to be delivered, such proceeds to the Applicable
Administrative Agent immediately upon receipt.

     (c) If at any time the area in which the Mortgaged Property (as defined in the US Mortgages)
are located is designated a “flood hazard area” in any Flood Insurance Rate Map published by the
Federal

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Emergency Management Agency (or any successor agency), the Company shall, and shall cause each
of its Restricted Subsidiaries to, obtain flood insurance in such total amount as required by
Regulation H of the Federal Reserve Board or Part 22 to Title 12 of the Code of Federal
Regulations, in either case, as from time to time in effect and all official rulings and
interpretations thereunder or thereof, and otherwise comply with the National Flood Insurance
Program as set forth in the Flood Disaster Protection Act of 1973, as it may be amended from time
to time.

     (d) Any proceeds of insurance referred to in this Section 5.3 which are paid to any
Administrative Agent shall (i) if no Event of Default has occurred and is continuing, be returned
to the Applicable Borrower to be applied as permitted by Section 2.7, and (ii) if an Event of
Default has occurred and is continuing, be immediately applied to the Secured Obligations in
accordance with Section 7.6.

Section 5.4 Compliance with Laws. The Company shall, and shall cause each Restricted
Subsidiary to, comply with all federal, state, provincial, territorial and local laws and
regulations (including Environmental Laws) which are applicable to the operations and Property of
the Company or such Restricted Subsidiary and maintain all related permits necessary for the
ownership and operation of the Company’s and such Restricted Subsidiary’s Property and business,
except in any case where the failure to so comply could not reasonably be expected to result in a
Material Adverse Change, provided that this Section 5.4 shall not prevent the Company or
any of its Restricted Subsidiaries from, in good faith and with reasonable diligence, contesting
the validity or application of any such laws or regulations by appropriate legal proceedings for
which adequate reserves have been established.

Section 5.5 Taxes. The Company shall, and shall cause each Restricted Subsidiary to pay
and discharge all material Taxes imposed on the Company or any of its Restricted Subsidiaries,
respectively, prior to the date on which penalties attach; provided that nothing in this
Section 5.5 shall require the Company or any of its Restricted Subsidiaries to pay any Tax which is
being contested in good faith and for which adequate reserves have been established in accordance
with GAAP.

Section 5.6 [Reserved].

Section 5.7 Security. The Company agrees that at all times before the termination of this
Agreement, payment in full of the Obligations (other than reimbursement and indemnity obligations
which survive but are not due and payable), and termination in full of the Commitments, the
Applicable Administrative Agent shall have an Acceptable Security Interest in the applicable
Collateral to secure the performance and payment of the applicable Secured Obligations as set forth
in the applicable Security Documents. The Company shall, and shall cause each Restricted
Subsidiary to take such actions, including execution and delivery of any Security Documents
necessary to:

     (a) create, perfect and maintain an Acceptable Security Interest in favor of the US
Administrative Agent in the following Properties of the Company and any Domestic Restricted
Subsidiary of the Company, whether now owned or hereafter acquired: (i) all Equity Interests issued
by any Domestic Subsidiary, (ii) 100% of Equity Interests issued by First Tier Foreign Subsidiaries
but, in any event, no more than 66% of the outstanding Voting Securities issued by any First Tier
Foreign Subsidiary; and (iii) the Existing Mortgaged Properties, and (iv) all other Properties
other than (A) real properties and Equity Interests in a Subsidiary, each of which is discussed
elsewhere under this Section and (B) Excluded Properties (US); and

     (b) create, perfect and maintain an Acceptable Security Interest in favor of the Canadian
Administrative Agent in all Properties (other than Excluded Properties (Canada)) of the Canadian
Borrower and any Foreign Subsidiary, whether now owned or hereafter acquired.

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For the avoidance of doubt, notwithstanding the preceding provisions of this Section 5.7 or any
other provisions of the Credit Documents, (A) neither the Company nor any Domestic Subsidiary shall
be required to grant any security interest in more than 66% of the Voting Securities in any First
Tier Foreign Subsidiary and (B) none of the Property of any Foreign Subsidiary shall ever serve as
collateral or other security for the US Facility (including US Swingline Advances).

Section 5.8 Records; Inspection. The Company shall, and shall cause each Restricted
Subsidiary to maintain proper, complete and consistent books of record with respect to such
Person’s operations, affairs, and financial condition. From time to time upon reasonable prior
notice, the Company shall permit any Lender and shall cause each Restricted Subsidiary to permit
any Lender, at such reasonable times and intervals and to a reasonable extent and under the
reasonable guidance of officers of or employees delegated by officers of the Company or such
Restricted Subsidiary, to, subject to any applicable confidentiality considerations, examine and
copy the books and records of the Company or such Restricted Subsidiary, to visit and inspect the
Property of the Company or such Restricted Subsidiary, and to discuss the business operations and
Property of the Company or such Restricted Subsidiary with the officers and directors thereof.

Section 5.9 Maintenance of Property. The Company shall, and shall cause each Restricted
Subsidiary to, maintain their owned, leased, or operated Property in good condition and repair,
normal wear and tear excepted; and shall abstain from, and cause each Restricted Subsidiary to
abstain from, knowingly or willfully permitting the commission of waste or other injury,
destruction, or loss of natural resources, or the occurrence of pollution, contamination, or any
other condition in, on or about the owned or operated Property involving the Environment that could
reasonably be expected to result in Response activities and that could reasonably be expected to
cause a Material Adverse Change.

Section 5.10 Landlord Agreements. The Company shall, and shall cause the applicable
Restricted Subsidiary to, use commercially reasonable efforts to obtain lien waivers or
subordination agreements in form and substance satisfactory to the Applicable Administrative Agent
and executed by each landlord with respect to each parcel of property leased by the Company or one
of its Restricted Subsidiaries where 20% or more of the aggregate value of the Company’s and its
Restricted Subsidiaries’ Inventory is located.

Section 5.11 Designations with Respect to Subsidiaries.

     (a) Any Subsidiary formed or acquired after the Effective Date shall be deemed a Restricted
Subsidiary unless initially designated by the US Borrower as an Unrestricted Subsidiary in
accordance with the terms of this Section 5.11(a) or subsequently designated by the US Borrower as
an Unrestricted Subsidiary in accordance with Section 5.11(b). No Borrower may acquire or form any
new Subsidiary or initially designate such new Subsidiary as an Unrestricted Subsidiary unless each
of the following conditions are satisfied in connection with such acquisition, formation or
designation:

(i) immediately before and after giving effect to such acquisition, formation, or
designation, no Default shall exist and be continuing;

(ii) the US Borrower shall deliver to the US Administrative Agent each of the items set
forth in Schedule 5.11 attached hereto with respect to each Subsidiary created after the
Effective Date (and not initially designated as an Unrestricted Subsidiary) to the extent
required in Schedule 5.11;

(iii) the Borrowers shall otherwise be in compliance with Sections 5.7, 6.3, 6.4 and 6.15;
and

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(iv) such initial designation as an Unrestricted Subsidiary shall occur either (A)
concurrently with the acquisition or formation of such new Subsidiary or (B) prior to such
new Subsidiary becoming a Credit Party.

     (b) The US Borrower may designate any Unrestricted Subsidiary as a Restricted Subsidiary and
may designate any Restricted Subsidiary as an Unrestricted Subsidiary; provided that (i) before and
after giving effect to such designation, no Default shall exist, (ii) the US Borrower can
demonstrate compliance with the covenants in Article VI (including Section 6.8 and Section 6.15) as
of the date of such designation, both before and after giving effect to such designation, in such
detail as is reasonably acceptable to the US Administrative Agent, (iii) such designation shall be
made effective as of a quarter end, (iv) if such designation is made in connection with the
designation of a Canadian Borrower under Section 5.17, then such other requirements and conditions
set forth therein have been satisfied, (v) if such designation is to make an Unrestricted
Subsidiary a Restricted Subsidiary, such Restricted Subsidiary shall deliver to the Applicable
Administrative Agent each of the items set forth in Schedule 5.11 to the extent required therein,
and (vi) only two such designations may be made as to any particular Subsidiary.

     (c) The US Borrower shall deliver to the US Administrative Agent, within 20 Business Days
after any such designation, a certificate of the chief financial officer of the US Borrower stating
the effective date of such designation and stating that the applicable foregoing conditions have
been satisfied.

ARTICLE VI

NEGATIVE COVENANTS

     So long as any Obligation shall remain unpaid, any Lender shall have any Commitment hereunder,
or there shall exist any Letter of Credit Exposure, the Company agrees to comply with the following
covenants.

Section 6.1 Debt. The Company shall not, nor shall it permit any Restricted Subsidiary to,
create, assume, incur, suffer to exist, or in any manner become liable, directly, indirectly, or
contingently in respect of, any Debt other than the following (collectively, the “Permitted
Debt”):

     (a) Debt of the Credit Parties under the Credit Documents;

     (b) (i) intercompany Debt incurred in the ordinary course of business owed by a US Credit
Party to another US Credit Party; and (ii) intercompany Debt incurred in the ordinary course of
business owed by a Foreign Credit Party to another Foreign Credit Party; provided that, in
any case and if applicable, such Debt as an investment is also permitted in Section 6.3;

     (c) Debt for borrowed money incurred after the Effective Date under senior, unsecured notes or
convertible debentures; provided that (i) such Debt is unsecured, (ii) the maintenance covenants
and financial ratios under instruments or agreements governing the credit facility for such Debt
(including, without limitation, indentures) are not more restrictive than such covenants under the
Facilities as reasonably determined by the US Administrative Agent which determination will not be
unreasonably withheld or delayed, (iii) the scheduled maturity of such Debt is at least six months
past the scheduled Maturity Date and no amortization payments, mandatory prepayments, or
repurchases of such Debt are required thereunder other than at the scheduled maturity thereof
(other than amortization payments, mandatory prepayments or repurchases required in respect of such
Debt in connection with the occurrence of an event of default under such Debt, a change of control
of the issuer (including a disposition of all or substantially all of the assets of the US Borrower
and its Restricted Subsidiaries, a liquidation or dissolution of the US Borrower, or any event
constituting a Change of Control (as defined herein) or an asset sale by the issuer or a Subsidiary
thereof), (iv) the Company and its Subsidiaries are in compliance

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with the covenants set forth in this Agreement, both before and after giving effect to each
incurrence of such Debt, and (v) the aggregate principal amount of such Debt does not exceed
$600,000,000;

     (d) unsecured Debt existing on the Effective Date and set forth in Part A of Schedule 6.1
(including the Existing HY Debt) and including any refinancings, replacements and renewals of such
existing unsecured Debt so long as (i) any such refinancing, replacement or renewal Debt is in an
aggregate principal amount not greater than the aggregate principal amount of the Debt being
renewed or refinanced, plus the amount of any premiums required to be paid thereon and reasonable
fees and expenses associated therewith, (ii) such refinancing, replacement or renewal Debt is
unsecured, and (iii) such refinancing, replacement or renewal Debt meets the conditions set forth
in clause (ii), (iii) and (iv) of Section 6.1(c) above;

     (e) unsecured Debt not otherwise permitted under the preceding provisions of this Section 6.1;
provided that, the aggregate outstanding principal amount of Debt permitted under this clause (e)
shall not exceed $20,000,000 at any time;

     (f) secured Debt in the form of one or more letter of credit facilities which are secured only
with cash collateral (including the deposit account that holds such cash collateral); provided
that, the aggregate outstanding principal amount of Debt permitted under this clause (f) shall not
exceed $75,000,000 at any time;

     (g) Insurance Premium Debt; and

     (h) the following secured Debt; provided that, the aggregate principal amount of all such Debt
shall not exceed 10% of the Company’s consolidated Net Worth at any time and neither Borrower nor
any Restricted Subsidiary may enter into additional indebtedness of the type described in this
clause (h) if a Default is continuing or entering into the additional indebtedness could reasonably
be expected to cause a Default:

(i) purchase money indebtedness or Capital Leases;

(ii) Debt secured by Liens of the type described in Section 6.2(f); and

(iii) Secured Debt existing on the Effective Date and set forth in Part B of Schedule 6.1.

Section 6.2 Liens. The Company shall not, nor shall it permit any of its Restricted
Subsidiaries to, create, assume, incur, or suffer to exist any Lien on the Property of the Company
or any Restricted Subsidiary of the Company, whether now owned or hereafter acquired, or assign any
right to receive any income, other than the following (collectively, the “Permitted Liens”)
but subject to the limitation in Section 6.5(b):

     (a) Liens securing the Secured Obligations or the Canadian Obligations, in any case, pursuant
to the Security Documents;

     (b) Liens imposed by law, such as materialmen’s, mechanics’, builder’s, carriers’, workmen’s
and repairmen’s liens, and other similar liens arising in the ordinary course of business securing
obligations which are not overdue for a period of more than 30 days or are being contested in good
faith by appropriate procedures or proceedings and for which adequate reserves have been
established;

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     (c) Liens arising in the ordinary course of business out of pledges or deposits under workers
compensation laws, unemployment insurance, old age pensions, or other social security or retirement
benefits, or similar legislation to secure public or statutory obligations;

     (d) Liens for taxes, assessment, or other governmental charges which are not yet due and
payable or which are being actively contested in good faith by appropriate proceedings;

     (e) Liens securing purchase money debt and Capital Leases permitted under Section 6.1(h);
provided that each such Lien encumbers only the Property purchased in connection with the
creation of any such purchase money debt and the amount secured thereby is not increased;

     (f) Liens on Property of Persons which become Restricted Subsidiaries of a Borrower after the
Effective Date and securing Permitted Debt; provided that, (i) such Liens are in existence at the
time the respective Persons become Restricted Subsidiaries of a Borrower and were not created in
anticipation thereof and (ii) the Debt secured by such Liens (A) is secured only by such Property
and not by any other assets of any other Restricted Entity, and (B) is not increased in amount;

     (g) Liens arising from precautionary UCC financing statements or PPSA filings regarding
operating leases to the extent such operating leases are permitted hereby;

     (h) encumbrances consisting of minor easements, zoning restrictions, or other restrictions on
the use of real property that do not (individually or in the aggregate) materially affect the value
of the assets encumbered thereby or materially impair the ability of the Company or such Restricted
Subsidiary to use such assets in its business, and none of which is violated in any material aspect
by existing or proposed structures or land use;

     (i) Liens arising solely by virtue of any statutory or common law provision relating to
banker’s liens, rights of set-off or similar rights and remedies and burdening only deposit
accounts or other funds maintained with a depository institution;

     (j) Liens on cash or securities pledged to secure performance of tenders, surety and appeal
bonds, government contracts, performance and return of money bonds, bids, trade contracts, leases,
statutory obligations, regulatory obligations and other obligations of a like nature incurred in
the ordinary course of business;

     (k) judgment and attachment Liens not giving rise to an Event of Default, provided that (i)
any appropriate legal proceedings which may have been duly initiated for the review of such
judgment shall not have been finally terminated or the period within which such proceeding may be
initiated shall not have expired and (ii) no action to enforce such Lien has been commenced;

     (l) in respect of any parcel of Real Property, defects or irregularities in the title to such
Real Property which in the opinion of the Administrative Agents are of a minor nature and which, in
the aggregate, will not materially impair the use of such Real Property for the purposes for which
such Real Property is held by the owner thereof;

     (m) Liens existing on the Effective Date and set forth in Schedule 6.2 and covering only such
property that is covered by such Lien on the Effective Date;

     (n) Liens on cash and the deposit account holding such cash and securing Debt permitted under
Section 6.1(f); and

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     (o) Liens on the proceeds of insurance the premium of which were financed with Insurance
Premium Debt.

Section 6.3 Investments. The Company shall not, nor shall it permit any Restricted
Subsidiary to, make or hold any direct or indirect investment in any Person, including capital
contributions to the Person, investments in or the acquisition of the debt or equity securities of
the Person, or any loans, guaranties, trade credit, or other extensions of credit to any Person,
other than the following (collectively, the “Permitted Investments”):

     (a) investments in the form of trade credit to customers of a Borrower and its Restricted
Subsidiaries arising in the ordinary course of business and represented by accounts from such
customers;

     (b) Liquid Investments;

     (c) loans, advances, or capital contributions to, or investments in, or purchases or
commitments to purchase any stock or other securities or evidences of indebtedness of or interests
in any Person and existing on the Effective Date, in each case as specified in the attached
Schedule 6.3; provided that, the respective amounts of such loans, advances, capital
contributions, investments, purchases and commitments shall not be increased (other than
appreciation);

     (d) contributions, loans, or advances to, or investments in a US Credit Party made by a US
Credit Party and in a Foreign Credit Party made by a Foreign Credit Party; provided that,
such contributions, loans, or advances to, or investments are subordinated to the Obligations on
terms reasonably acceptable to the Applicable Administrative Agent;

     (e) promissory notes and other noncash consideration received by the Credit Parties in
connection with any asset sale permitted hereunder, with the bankruptcy or reorganization of
suppliers and customers, or with the settlement of delinquent obligations of, and disputes with,
customers and suppliers arising in the ordinary course of business;

     (f) creation or acquisition of and additional contributions, loans or advances to, or
investments in, any additional Subsidiaries in compliance with Section 5.7, Section 5.11 and
Section 6.15; provided that, (i) any contributions, loans, or advances to, or investments
in such Subsidiary (other than the initial capitalization of such Subsidiary) by the Company or any
of its Subsidiaries shall be otherwise permitted under this Section 6.3, (ii) any contributions,
loans, or advances to, or investments in any Unrestricted Subsidiary by the Company or any of its
Restricted Subsidiaries shall not exceed $25,000,000 in the aggregate (other than increases through
appreciation) at any time outstanding, and (iii) if any Restricted Payments made by Unrestricted
Subsidiaries are included in the calculation of the Company’s consolidated EBITDA of any period for
any purpose under this Agreement, then no contributions, loans, or advances to, or investments may
be made by any Restricted Entity in such applicable Unrestricted Subsidiary during such period
(under this clause (f) or otherwise) unless the US Borrower would otherwise be in compliance with
the applicable covenant without taking into account such Restricted Payments from the Unrestricted
Subsidiaries;

     (g) contributions, loans, or advances to, or investments in Restricted Subsidiaries that are
not otherwise permitted under this Section 6.3 in an aggregate outstanding amount not in excess of
the greater of (i) $150,000,000 and (ii) 15% of CNTA, in any case, not including increases through
appreciation; provided that (A) if such loan or advance is made to a Restricted Subsidiary
that is not a US Credit Party, such loan or advance is evidenced by an unsecured, intercompany note
in such form and substance reasonably satisfactory to the US Administrative and the US
Administrative Agent shall have a first priority Lien in such intercompany note and the receivable
evidenced thereby, and (B) if such

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contribution, loan, advance or investment would cause the outstanding aggregate amount of
contributions, loans, advances or investments permitted under this clause (g) to exceed
$150,000,000, then before and after giving effect to such contribution, loan, advance or
investment, Liquidity shall be greater than or equal to $100,000,000 on the date of the
effectiveness of such contribution, loan, advance or investment; and

     (h) other investments, loans and advances in an aggregate amount (valued at cost or
outstanding principal amount, as the case may be) not greater than $10,000,000 at any time
outstanding.

Section 6.4 Acquisitions. The Company shall not, nor shall it permit any Restricted
Subsidiary to, make an Acquisition in a transaction or related series of transactions; provided
that, an Acquisition may be made so long as, both before and after giving effect to such
Acquisition: (a) no Default or Event of Default exists; (b) Liquidity is greater than or equal to
$15,000,000; (c) such Acquisition is substantially related to the business of the Company and its
Restricted Subsidiaries, taken as a whole, and is not hostile; and (d) the Total Debt Leverage
Ratio (calculated as of the fiscal quarter ending immediately prior to effective date of such
Acquisition and as of the effective date of the Acquisition) shall be less than 3.50 to 1.00, and,
if requested by the US Administrative Agent in connection with any such Acquisition the net cash
proceeds of which exceed $20,000,000, the US Borrower has delivered to the US Administrative Agent
a compliance certificate evidencing such pro forma compliance duly executed by the chief financial
officer of the US Borrower.

Section 6.5 Agreements Restricting Liens; Negative Pledge. (a) The Company shall not, nor
shall it permit any Restricted Subsidiary to, create, incur, assume or permit to exist any
contract, agreement or understanding (other than this Agreement, the Security Documents and
agreements governing Debt permitted by Section 6.1(h) to the extent such restrictions govern only
the asset financed pursuant to such Debt incurred pursuant to Section 6.1(h)) which in any way
prohibits or restricts the granting, conveying, creation or imposition of any Lien on any of its
Property, whether now owned or hereafter acquired, to secure the Secured Obligations or restricts
any Restricted Subsidiary from paying Restricted Payments to any parent company that is a
Restricted Entity, or which requires the consent of or notice to other Persons in connection
therewith. (b) Notwithstanding anything herein to the contrary, the Company shall not, nor shall
it permit any Restricted Subsidiary to, create or permit to exist any Lien on any Equity Interests
issued by a Foreign Subsidiary, other than (i) a Lien in favor of the Applicable Administrative
Agent and (ii) a Lien to the extent it is permitted under Section 6.2(d) or Section 6.2(k).

Section 6.6 Use of Proceeds; Use of Letters of Credit. The Company shall not, nor shall it
permit any Subsidiary to: (a) use the proceeds of the Revolving Advances for any purposes other
than (i) to refinance the advances and other obligations outstanding under the Restated Agreement,
(ii) for working capital purposes, and (iii) for general corporate purposes, including capital
expenditures and the payment of fees and expenses related to the entering into of this Agreement
and the other Credit Documents; or (b) use the proceeds of the Swingline Advances or the Letters of
Credit for any purposes other than (i) for working capital purposes and (ii) for general corporate
purposes. Neither Borrower shall, nor shall it permit any of its Subsidiaries to, directly or
indirectly use any part of the proceeds of Advances or Letters of Credit for any purpose which
violates, or is inconsistent with, Regulations T, U, or X.

Section 6.7 Corporate Actions; Accounting Changes.

     (a) The Company shall not, nor shall it permit any Restricted Subsidiary to, merge, amalgamate
or consolidate with or into any other Person, except that (i) any US Credit Party may merge,
amalgamate or be consolidated with or into the US Borrower or any Domestic Restricted Subsidiary,
(ii) any Foreign Credit Party may merge, amalgamate or be consolidated with or into any Foreign
Restricted Subsidiary; and (iii) any Restricted Subsidiary may merge, amalgamate or be
consolidated with any Unrestricted

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Subsidiary with the Unrestricted Subsidiary being the surviving entity if the designation of
such Restricted Subsidiary as an Unrestricted Subsidiary would be permitted under Section 5.11(b);
provided that, in the case of the foregoing clauses (i) and (ii), (A) immediately after
giving effect to any such proposed transaction no Default would exist, (B) in the case of any such
transaction to which the US Borrower is a party, the US Borrower is the surviving entity, (C) in
the case of any such transaction to which the Canadian Borrower is a party, the Canadian Borrower
or, if the US Borrower is involved, the US Borrower, is the surviving entity, and (D) in the case
of any such transaction to which a Credit Party is a party, the surviving entity must be a Credit
Party.

     (b) The Company shall not, nor shall it permit any Restricted Subsidiary to, change its name
or reorganize in another jurisdiction, or in any manner rearrange its business structure as it
exists on the date of this Agreement, provided that the Company may, and may permit any
Restricted Subsidiary to, change its name, reorganize in another jurisdiction or in any manner
rearrange its business structure if the Company gives written notice thereof to the Administrative
Agents within thirty (30) days thereafter.

     (c) The Company shall not, nor shall it permit any Credit Party to, modify or change its
organizational documents in any manner that could reasonably be expected to be adverse to any
Secured Party or Related Party other than such modification or changes necessary to effect a
transaction permitted hereunder.

     (d) The Company shall not, nor shall it permit any Restricted Subsidiary to, modify or change
its fiscal year or its method of accounting in any material respect (other than as may be required
to conform to GAAP) without providing at least 30 days prior written notice thereof to the US
Administrative Agent.

Section 6.8 Sale of Assets. The Company shall not, nor shall it permit any Restricted
Subsidiary to make a Disposition of any of its assets outside the ordinary course of business,
except that:

     (a) the Restricted Entities may, during any fiscal year of the Company make a Disposition of
assets (including Equity Interests in any Subsidiary) outside the ordinary course of business up to
an aggregate net book value equal to 10% of aggregate, consolidated net book value of the fixed
assets of the Company and its Restricted Subsidiaries as set forth in the Financial Statements most
recently delivered under Section 5.2; provided that such assets may not be Disposed for an
amount which is less than fair market value;

     (b) any US Credit Party may make a Disposition of any of its assets to any other US Credit
Party so long as no Default or Event of Default has occurred and is continuing or would be caused
thereby; provided that the receiving US Credit Party shall ratify, grant and confirm the
Liens on such assets (and any other related Collateral) pursuant to documentation satisfactory to
the US Administrative Agent;

     (c) any Foreign Credit Party may make a Disposition of any of its assets to any other Foreign
Credit Party so long as no Default or Event of Default has occurred and is continuing or would be
caused thereby; provided that the receiving Foreign Credit Party shall ratify, grant and
confirm the Liens on such assets (and any other related Collateral) pursuant to documentation
satisfactory to the Canadian Administrative Agent; and

     (d) the Credit Parties may make a Disposition of the Felderhoff Assets; provided that
such assets may not be sold for an amount which is less than fair market value.

Section 6.9 Restricted Payments. The Company shall not, nor shall it permit any Restricted
Subsidiary to make any Restricted Payments except that so long as no Default exists or would result
from the making of such Restricted Payment:

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     (a) (i) any Restricted Subsidiary may make Restricted Payments to the US Borrower or any other
US Credit Party; and (ii) any Foreign Restricted Subsidiary may make Restricted Payments to any
Borrower or any other Credit Party;

     (b) the Company may issue common Equity Interests upon conversion of any convertible Debt
securities of the Company permitted to be incurred under Section 6.1(c) hereof and, in connection
therewith, the Company may make cash payments in lieu of fractional Equity Interests in respect
thereof;

     (c) the Company may (i) purchase any call or capped call option (or substantively equivalent
derivative transaction) on the Company’s common Equity Interests to the extent such call or capped
call option (or substantively equivalent derivative transaction) is permitted under the proviso to
Section 6.16 hereof and (ii) settle any call option (or warrant or substantively equivalent
derivative transaction) on the Company’s common Equity Interests which is permitted under the
proviso to Section 6.16 hereof by delivery of common Equity Interests; and

     (d) the Company may make Restricted Payments in the form of cash to its equity holders so long
as, before and after giving effect to such Restricted Payment, (i) no Default or Event of Default
exists, and (ii) the sum of (A) aggregate amount of such Restricted Payments permitted under this
clause (d) plus (B) the aggregate amount of Debt prepayments, redemptions, purchases or
defeasances permitted under Section 6.20(e) does not exceed the Permitted Distribution Amount.

Section 6.10 Affiliate Transactions. The Company shall not, nor shall it permit any
Restricted Subsidiary to, directly or indirectly, enter into or permit to exist any transaction or
series of transactions (including, but not limited to, the purchase, sale, lease or exchange of
Property, the making of any investment, the giving of any guaranty, the assumption of any
obligation or the rendering of any service) with any of their Affiliates unless such transaction or
series of transactions is on terms no less favorable to the Company or any Restricted Subsidiary,
as applicable, than those that could be obtained in a comparable arm’s length transaction with a
Person that is not such an affiliate.

Section 6.11 Line of Business. The Company shall not, nor shall it permit any Restricted
Entity to, change the character of the Company’s and its Subsidiaries collective business as
conducted on the date of this Agreement, or engage in any type of business not reasonably related
to the Company’s and its Subsidiaries’ collective business as presently and normally conducted.

Section 6.12 Hazardous Materials. Except where the failure could not reasonably be
expected to cause a Material Adverse Change, the Company (a) shall not, nor shall it permit any
Subsidiary to, create, handle, transport, use, or dispose of any Hazardous Substance or Hazardous
Waste, except in material compliance with Environmental Law; and (b) shall not, nor shall it permit
any Subsidiary to, release any Hazardous Substance or Hazardous Waste into the environment and
shall not permit its or any Subsidiary’s Property to be subjected to any release of Hazardous
Substance or Hazardous Waste, except in compliance with Environmental Law.

Section 6.13 Compliance with ERISA. Except for matters that individually or in the
aggregate could not reasonably be expected to cause a Material Adverse Change, the Company shall
not, nor shall it permit any Subsidiary to, directly or indirectly: (a) engage in any transaction
in connection with which the Company or any Subsidiary could be subjected to either a civil penalty
assessed pursuant to section 502(c), (i) or (l) of ERISA or a tax imposed by Chapter 43 of Subtitle
D of the Code; (b) terminate, or permit any member of the Controlled Group to terminate, any Plan
in a manner, or take any other action with respect to any Plan, which could result in any liability
to the Company, any Subsidiary or any member of the Controlled Group to the PBGC; (c) fail to make,
or permit any member of the Controlled Group to fail to make, full payment when due of all amounts
which, under the provisions of any Plan,

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agreement relating thereto or applicable Legal Requirement, the Company, a Subsidiary or member of
the Controlled Group is required to pay as contributions thereto; (d) permit to exist, or allow any
Subsidiary or any member of the Controlled Group to permit to exist, any accumulated funding
deficiency within the meaning of Section 302 of ERISA or section 412 of the Code, whether or not
waived, with respect to any Plan; (e) permit, or allow any member of the Controlled Group to
permit, the actuarial present value of the benefit liabilities (as “actuarial present value of the
benefit liabilities” shall have the meaning specified in section 4041 of ERISA) under any Plan that
is regulated under Title IV of ERISA to exceed the current value of the assets (computed on a plan
termination basis in accordance with Title IV of ERISA) of such Plan allocable to such benefit
liabilities; (f) contribute to or assume an obligation to contribute to, or permit any member of
the Controlled Group to contribute to or assume an obligation to contribute to, any Multiemployer
Plan; (g) acquire, or permit any member of the Controlled Group to acquire, an interest in any
Person that causes such Person to become a member of the Controlled Group if such Person sponsors,
maintains or contributes to, or at any time in the six-year period preceding such acquisition has
sponsored, maintained, or contributed to, (1) any Multiemployer Plan, or (2) any other Plan that is
subject to Title IV of ERISA under which the actuarial present value of the benefit liabilities
under such Plan exceeds the current value of the assets (computed on a plan termination basis in
accordance with Title IV of ERISA) of such Plan allocable to such benefit liabilities; (h) incur,
or permit any member of the Controlled Group to incur, a liability to or on account of a Plan under
sections 515, 4062, 4063, 4064, 4201 or 4204 of ERISA; (i) contribute to or assume an obligation to
contribute to any employee welfare benefit plan, as defined in section 3(1) of ERISA, including,
without limitation, any such plan maintained to provide benefits to former employees of such
entities, that may not be terminated by such entities in their sole discretion at any time without
any liability; or (j) amend or permit any member of the Controlled Group to amend, a Plan resulting
in an increase in current liability such that the Company, any Subsidiary or any member of the
Controlled Group is required to provide security to such Plan under section 401(a)(29) of the Code.

Section 6.14 Sale and Leaseback Transactions. The Company shall not, nor shall it permit
any Restricted Subsidiary to, sell or transfer to a Person any Property, whether now owned or
hereafter acquired, if at the time or thereafter the Company or a Restricted Subsidiary shall lease
as lessee such Property or any part thereof or other Property which the Company or a Restricted
Subsidiary intends to use for substantially the same purpose as the Property sold or transferred
unless the fair market value of all assets sold, transferred, leased or disposed of pursuant to
this Section 6.14 at any time does not, in the aggregate during any fiscal year, exceed 5% of
consolidated Net Worth of the Company calculated as of such fiscal year end.

Section 6.15 Non-Obligors/Unrestricted Entities. The Company shall not, nor shall it
permit any of its Restricted Subsidiaries to, (a) permit the Net Tangible Assets legally,
beneficially and directly owned by the US Credit Parties to be less than 85% of the Net Tangible
Assets of the US Borrower and its consolidated Restricted Subsidiaries, or (b) permit the EBITDA
attributable to the US Credit Parties to be less than 85% of the consolidated EBITDA of the US
Borrower and its Restricted Subsidiaries, in each case, as established in accordance with GAAP and
as reflected in the financial statements most recently delivered to the US Administrative Agent
pursuant to the terms hereof. The Company shall not, nor shall it permit any of its Restricted
Subsidiaries to, (i) permit any Subsidiary that directly owns more than 6% of the consolidated Net
Tangible Assets of the US Borrower and its Subsidiaries to be an Unrestricted Subsidiary or (ii)
permit any Subsidiary which has EBITDA attributable to it in excess of 6% of the consolidated
EBITDA of the US Borrower and its Subsidiaries to be an Unrestricted Subsidiary.

Section 6.16 Limitation on Hedging. The Company shall not, nor shall it permit any
Restricted Subsidiary to, (a) purchase, assume, or hold a speculative position in any commodities
market or futures market or enter into any Hedging Arrangement for speculative purposes; or (b) be
party to or otherwise enter into any Hedging Arrangement which (i) is entered into for reasons
other than as a part of its normal

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business operations as a risk management strategy and/or hedge against changes resulting from
market conditions related to the Company’s or its Restricted Subsidiaries’ operations, or (ii)
obligates the Company or any Restricted Subsidiary to any margin call requirements; provided,
however, that the Company shall be permitted to purchase a call or capped call option (or
substantively equivalent derivative transaction) on the Company’s common Equity Interests in
connection with an issuance of convertible Debt securities permitted to be incurred under Section
6.1(c) hereof and sell a call option (or warrant or substantively equivalent derivative
transaction) on the Company’s common Equity Interests substantially concurrently with any such
purchase so long as (y) the purchase price for the call option (or equivalent transaction), less
the proceeds from the sale of the call option (or warrant or equivalent transaction) does not
exceed 50% of the net proceeds from such issuance of convertible Debt, and (z) any early
termination or settlement of such options does not result in any payments to be made by the Company
other than delivery of its common Equity Interests. The parties hereto acknowledge and agree that
the Hedging Arrangements entered into by any Restricted Entity to hedge against fuel costs related
to its operations (A) for purposes of clause (b)(i) above, are part of its normal business
operations and part of its risk management strategy, and (B) for purposes of clause (a) above, are
not speculative.

Section 6.17 Capital Expenditures. The Company shall not, nor shall it permit any
Restricted Subsidiary to, incur or expend any Capital Expenditure; provided that, a Capital
Expenditure may be incurred or expended so long as, both before and after giving effect to such
Capital Expenditure, (a) no Default or Event of Default exists, (b) Liquidity is greater than or
equal to $15,000,000 and (c) the Total Debt Leverage Ratio (calculated as of the fiscal quarter
ending immediately prior to effective date of such Capital Expenditure and as of the effective date
of such Capital Expenditure) shall be less than 3.50 to 1.00; provided that, if the
requirements in clause (b) or (c) are not satisfied in connection with any particular Capital
Expenditure, then such Capital Expenditure shall, nevertheless, be permitted so long as the
aggregate Capital Expenditures expended during any four fiscal quarter period does not exceed 100%
of the consolidated EBITDA for the US Borrower and its Restricted Subsidiaries for such four fiscal
quarter period.

Section 6.18 Landlord Agreements. The Company shall not, nor shall it permit any of its
Restricted Subsidiaries to hold, store or otherwise maintain more than 20% of the aggregate value
of the Company’s and its Restricted Subsidiaries’ Inventory at locations which are not owned by a
Credit Party or which are not covered by a lien waiver or subordination agreement in form and
substance satisfactory to the Applicable Administrative Agent.

Section 6.19 Amendment of Debt Terms. The Company shall not, nor shall it permit any of
its Subsidiaries to, without prior written consent of the US Administrative Agent, amend any of the
documents or terms governing the Existing HY Debt (including any renewals, refinancing or
replacements thereof), or any other senior, unsecured notes issued by the Company which is
permitted under Section 6.1(c), the effect of which could reasonably be adverse to the Lenders as
determined in the US Administrative Agent’s sole reasonable discretion.

Section 6.20 Prepayment of Certain Debt. The Company shall not, nor shall it permit any of
its Restricted Subsidiaries to, prepay, redeem, purchase, defease or otherwise satisfy prior to the
scheduled maturity thereof in any manner, or make any payment in violation of any subordination
terms of, any Debt, except:

     (a) the prepayment of the Obligations in accordance with the terms of this Agreement;

     (b) regularly scheduled or required repayments or redemptions of Permitted Debt (other than
Debt permitted under Sections 6.1(c) or (d));

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     (c) so long as no Event of Default exists or would result therefrom, other prepayments of
Permitted Debt not described in the immediately preceding clauses (a) and (b), but specifically
excluding any prepayments, redemptions, purchases, defeasance, or other satisfaction of Debt
permitted under Section 6.1(c) or (d);

     (d) the prepayment, redemption, purchase or defeasance of the Existing HY Debt so long as,
after giving effect to such prepayment, redemption, purchase or defeasance, (i) the Total Debt
Leverage Ratio would be less than 2.50 to 1.00, and (ii) the aggregate US Commitments that are
unused and available hereunder is equal to or greater than $50,000,000; and

     (e) the prepayment, redemption, purchase or defeasance of unsecured, senior notes or
convertible debentures that are permitted under Section 6.1(c) so long as, before and after giving
effect to such prepayment, redemption, purchase or defeasance, (i) the Total Debt Leverage Ratio
would be less than 2.50 to 1.00, and (ii) the sum of (A) aggregate amount of such prepayments,
redemptions, purchases and defeasances permitted under this clause (e) plus (B) the
aggregate amount of Restricted Payments permitted under Section 6.9(d) does not exceed the
Permitted Distribution Amount.

Section 6.21 Total Debt Leverage Ratio. The Company shall not permit the Total Debt
Leverage Ratio, at the end of each fiscal quarter, to be greater than 4.00 to 1.00.

Section 6.22 Senior Debt Leverage Ratio. The Company shall not permit the Senior Debt
Leverage Ratio, at the end of each fiscal quarter, to be greater than 2.50 to 1.00.

Section 6.23 Consolidated Interest Coverage Ratio. The Company shall not permit the ratio
of, as of the last day of each fiscal quarter, (a) the consolidated EBITDA of the Company and its
consolidated Restricted Subsidiaries, calculated for the four fiscal quarters then ended, to (b)
the consolidated Interest Expense of the Company and its consolidated Restricted Subsidiaries for
the four fiscal quarters then ended, to be less than 2.75 to 1.00.

ARTICLE VII

DEFAULT AND REMEDIES

Section 7.1 Events of Default. The occurrence of any of the following events shall
constitute an “Event of Default” under this Agreement and any other Credit Document:

     (a) Payment Failure. Any Credit Party (i) fails to pay any principal when due under
this Agreement or (ii) fails to pay, within three Business Days of when due, any other amount due
under this Agreement or any other Credit Document, including payments of interest, fees,
reimbursements, and indemnifications;

     (b) False Representation or Warranties. Any representation or warranty made or deemed
to be made by any Credit Party or any officer thereof in this Agreement, in any other Credit
Document or in any certificate delivered in connection with this Agreement or any other Credit
Document is incorrect, false or otherwise misleading in any material respect (except that such
materiality qualifier shall not be applicable to any representations and warranties that already
are qualified or modified by materiality in the text thereof) at the time it was made or deemed
made;

     (c) Breach of Covenant. (i) Any breach by any Credit Party of any of the covenants in
Section 5.2(c), Section 5.2(d), Section 5.3(a), or Article VI of this Agreement or the
corresponding covenants in any Guaranty or (ii) any breach by any Credit Party of any other
covenant or agreement contained in this Agreement or any other Credit Document and such breach is
not cured within 30 days after the earlier of

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the date notice thereof is given to any Borrower by any Lender Party or the date any officer
of the Company or any other Restricted Entity obtained actual knowledge thereof;

     (d) Guaranties. Any material provisions in the Guaranties shall at any time (before
its expiration according to its terms) and for any reason cease to be in full force and effect and
valid and binding on the Guarantors party thereto or shall be contested by any party thereto; any
Guarantor shall deny it has any liability or obligation under such Guaranties; or any Guarantor
shall cease to exist other than as expressly permitted by the terms of this Agreement;

     (e) Security Documents. Any Security Document shall at any time and for any reason
cease to create an Acceptable Security Interest in any material portion of the Property purported
to be subject to such agreement in accordance with the terms of such agreement or any material
provisions thereof shall cease to be in full force and effect and valid and binding on the Credit
Party that is a party thereto or any such Person shall so state in writing;

     (f) Cross-Default. (i) Any Restricted Entity shall fail to pay any principal of or
premium or interest on its Debt which is outstanding in a principal amount of at least
$10,000,000.00 individually or when aggregated with all such Debt of the Restricted Entities so in
default (but excluding Debt constituting Obligations) when the same becomes due and payable
(whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such
failure shall continue after the applicable grace period, if any, specified in the agreement or
instrument relating to such Debt; (ii) any other event shall occur or condition shall exist under
any agreement or instrument relating to Debt which is outstanding in a principal amount of at least
$10,000,000.00 individually or when aggregated with all such Debt of the Restricted Entities so in
default (other than Debt constituting Obligations), and shall continue after the applicable grace
period, if any, specified in such agreement or instrument, if the effect of such event or condition
is to accelerate, or to permit the acceleration of, the maturity of such Debt prior to the stated
maturity thereof; or (iii) any such Debt shall be declared to be due and payable, or required to be
prepaid (other than by a regularly scheduled required prepayment); provided that, for
purposes of this subsection 7.1(f), the “principal amount” of the obligations in respect of any
Hedging Arrangements at any time shall be the maximum aggregate amount (giving effect to any
netting agreements) that would be required to be paid if such Hedging Arrangements were terminated
at such time;

     (g) Bankruptcy and Insolvency. (i) Except as otherwise permitted under this
Agreement, any Restricted Entity shall terminate its existence or dissolve or (ii) any Restricted
Entity (A) admits in writing its inability to pay its debts generally as they become due; makes an
assignment for the benefit of its creditors; consents to or acquiesces in the appointment of a
receiver, liquidator, fiscal agent, or trustee of itself or any of its Property; files a petition
under any Debtor Relief Law; or consents to any reorganization, arrangement, workout, liquidation,
dissolution, or similar relief under any Debtor Relief Law or (B) shall have had, without its
consent, any court enter an order appointing a receiver, liquidator, fiscal agent, or trustee of
itself or any of its Property; any petition filed against it seeking reorganization, arrangement,
workout, liquidation, dissolution or similar relief under any Debtor Relief Law and such petition
shall not be dismissed, stayed, or set aside for an aggregate of 60 days, whether or not
consecutive;

     (h) Adverse Judgment. Any Restricted Entity suffers final judgments against any of
them since the date of this Agreement in an aggregate amount, less any insurance proceeds covering
such judgments which are received or as to which the insurance carriers admit liability, greater
than $10,000,000.00 and either (i) enforcement proceedings shall have been commenced by any
creditor upon such judgments or (ii) there shall be any period of 30 consecutive days during which
a stay of enforcement of such judgments, by reason of a pending appeal or otherwise, shall not be
in effect;

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     (i) Termination Events. Any Termination Event with respect to a Plan shall have
occurred, and, 30 days after notice thereof shall have been given to the Company by the US
Administrative Agent, such Termination Event shall not have been corrected and shall have created
and caused to be continuing a material risk of Plan termination or liability for withdrawal from
the Plan as a “substantial employer” (as defined in Section 4001(a)(2) of ERISA), which termination
could reasonably be expect to result in a liability of, or liability for withdrawal could
reasonably be expected to be, greater than $10,000,000.00;

     (j) Plan Withdrawals. The Company or any member of the Controlled Group as employer
under a Multiemployer Plan shall have made a complete or partial withdrawal from such Multiemployer
Plan and such withdrawing employer shall have incurred a withdrawal liability in an annual amount
exceeding $10,000,000.00;

     (k) Invalidity of Credit Agreement. Any material provision of this Agreement shall
cease to be in full force and effect and valid and binding on the Borrowers or any Borrower shall
so state in writing (except as permitted by the terms of this Agreement or as waived in accordance
with Section 9.2); or

     (l) Change in Control. The occurrence of a Change in Control.

Section 7.2 Optional Acceleration of Maturity. If any Event of Default (other than an
Event of Default pursuant to Section 7.1(g) shall have occurred and be continuing, then, and in any
such event,

     (a) the Applicable Administrative Agent (i) shall at the request, or may with the consent, of
the Majority Lenders, by notice to the Borrowers, declare that the obligation of each Lender, each
Swingline Lender and each Issuing Lender to make Credit Extensions shall be terminated, whereupon
the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the
Majority Lenders, by notice to the Borrowers, declare all outstanding Advances, all interest
thereon, and all other amounts payable under this Agreement to be forthwith due and payable,
whereupon such Advances, all such interest, and all such amounts shall become and be forthwith due
and payable in full, without presentment, demand, protest or further notice of any kind (including,
without limitation, any notice of intent to accelerate or notice of acceleration), all of which are
hereby expressly waived by each Borrower,

     (b) the US Borrower shall, on demand of the US Administrative Agent at the request or with the
consent of the US Majority Lenders, deposit with the US Administrative Agent into the US Cash
Collateral Account an amount of cash equal to 103% the Dollar Equivalent of the outstanding US
Letter of Credit Exposure as security for the Secured Obligations to the extent the US Letter of
Credit Obligations are not otherwise paid or Cash Collateralized at such time,

     (c) the Canadian Borrower shall, on demand of the Canadian Administrative Agent at the request
or with the consent of the Canadian Majority Lenders, deposit with the Canadian Administrative
Agent into the Canadian Cash Collateral Account an amount of cash equal to 103% of the outstanding
Canadian Letter of Credit Exposure as security for the Canadian Obligations to the extent the
Canadian Letter of Credit Obligations are not otherwise paid or Cash Collateralized at such time,
and

     (d) the Applicable Administrative Agent shall at the request of, or may with the consent of,
the Majority Lenders proceed to enforce its rights and remedies under the Security Documents, the
Guaranties, or any other Credit Document by appropriate proceedings.

Section 7.3 Automatic Acceleration of Maturity. If any Event of Default pursuant to
Section 7.1(g) shall occur,

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     (a) obligation of each Lender, each Swingline Lender and each Issuing Lender to make
Credit Extensions shall immediately and automatically be terminated and all Advances, all interest
on the Advances, and all other amounts payable under this Agreement shall immediately and
automatically become and be due and payable in full, without presentment, demand, protest or any
notice of any kind (including, without limitation, any notice of intent to accelerate or notice of
acceleration), all of which are hereby expressly waived by the Borrowers,

     (b) the US Borrower shall, on demand of the US Administrative Agent at the request or with the
consent of the US Majority Lenders, deposit with the US Administrative Agent into the US Cash
Collateral Account an amount of cash equal to 103% of the outstanding Dollar Equivalent of the US
Letter of Credit Exposure as security for the Secured Obligations to the extent the US Letter of
Credit Obligations are not otherwise paid or Cash Collateralized at such time,

     (c) the Canadian Borrower shall, on demand of the Canadian Administrative Agent at the request
or with the consent of the Canadian Majority Lenders, deposit with the Canadian Administrative
Agent into the Canadian Cash Collateral Account an amount of cash equal to 103% of the outstanding
Canadian Letter of Credit Exposure as security for the Canadian Obligations to the extent the
Canadian Letter of Credit Obligations are not otherwise paid or Cash Collateralized at such time,
and

     (d) the Applicable Administrative Agent shall at the request of, or may with the consent of,
the Majority Lenders proceed to enforce its rights and remedies under the Security Documents, the
Guaranties, or any other Credit Document by appropriate proceedings.

Section 7.4 Set-off. If an Event of Default shall have occurred and be continuing, each
Lender Party, and each of its Affiliates is hereby authorized at any time and from time to time, to
the fullest extent permitted by applicable Legal Requirement, 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 Party or
any such Affiliate to or for the credit or the account of the Applicable Borrower against any and
all of the obligations of such Borrower now or hereafter existing under this Agreement or any other
Credit Document to such Lender Party or Affiliate, irrespective of whether or not such Lender Party
or Affiliate shall have made any demand under this Agreement or any other Credit Document and
although such obligations of such Borrower may be contingent or unmatured or are owed to a branch
or office of such Lender Party or Affiliate different from the branch or office holding such
deposit or obligated on such indebtedness; provided that in the event that any Defaulting
Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over
immediately to the Applicable Administrative Agent for further application in accordance with the
provisions of Section 2.18 and, pending such payment, shall be segregated by such Defaulting Lender
from its other funds and deemed held in trust for the benefit of the Applicable Administrative
Agent, the Issuing Lenders, the Swingline Lender and the Lenders, and (y) the Defaulting Lender
shall provide promptly to the Applicable Administrative Agent a statement describing in reasonable
detail the Secured Obligations owing to such Defaulting Lender as to which it exercised such right
of setoff. The rights of each Administrative Agent, each Lender, each Issuing Lender and their
respective Affiliates under this Section are in addition to other rights and remedies (including
other rights of setoff) that such Administrative Agent, such Lender, such Issuing Lender or their
respective Affiliates may have. Each Lender and each Issuing Lender agrees to notify the
Applicable Borrower and the Applicable 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 7.5 Remedies Cumulative, No Waiver. No right, power, or remedy conferred to any
Lender, Administrative Agent, or Issuing Lender in this Agreement or the Credit Documents, or now
or hereafter existing at law, in equity, by statute, or otherwise shall be exclusive, and each such
right, power,

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or remedy shall to the full extent permitted by law be cumulative and in addition to every other
such right, power or remedy. No course of dealing and no delay in exercising any right, power, or
remedy conferred to any Lender, Administrative Agent, or Issuing Lender in this Agreement and the
Credit Documents or now or hereafter existing at law, in equity, by statute, or otherwise shall
operate as a waiver of or otherwise prejudice any such right, power, or remedy. Any Lender,
Administrative Agent, or Issuing Lender may cure any Event of Default without waiving the Event of
Default. No notice to or demand upon the Borrowers shall entitle the Borrowers to similar notices
or demands in the future.

Section 7.6 Application of Payments.

     (a) Prior to Event of Default. Prior to an Event of Default, all payments made
hereunder shall be applied as directed by the applicable Borrower, but such payments are subject to
the terms of this Agreement, including the application of prepayments according to Section 2.7.

     (b) After Event of Default (US Collateral). If an Event of Default has occurred and
is continuing, any amounts received or collected from, or on account of assets held by, any Credit
Party (other than a Foreign Credit Party) shall be applied to the Secured Obligations by the
Administrative Agents in the following order and manner but subject to the marshalling rights of
the US Administrative Agent and US Lenders:

(i) First, to payment of that portion of such Secured Obligations constituting fees,
indemnities, expenses, and other amounts (including fees, charges, and disbursements of
counsel to any Administrative Agent and amounts payable under Sections 2.12, 2.13, and 2.15)
payable by any Credit Party to any Administrative Agent in its capacity as such;

(ii) Second, to payment of that portion of such Secured Obligations constituting accrued and
unpaid interest, allocated ratably among the Lender Parties in proportion to the Dollar
Equivalent of the amounts described in this clause Second payable to them;

(iii) Third, to payment of that portion of such Secured Obligations constituting fees,
indemnities and other amounts (other than principal and interest) payable by any Credit
Party to the Secured Parties (including fees, charges and disbursements of counsel to the
respective Secured Parties and amounts payable under Article II), ratably among such Secured
Parties in proportion to the Dollar Equivalent of the amounts described in this clause (iii)
payable to them;

(iv) Fourth, to the Applicable Administrative Agent for the account of the Applicable
Issuing Lender, ratably between the two Facilities, to Cash Collateralize that portion of
the Letter of Credit Obligations comprised of the aggregate undrawn amount of Letters of
Credit;

(v) Fifth, to payment of that portion of the Secured Obligations constituting unpaid
principal of the Secured Obligations payable by any Credit Party (including obligations
under Hedging Agreements with any Swap Counterparties and Banking Services Obligations, in
any event, owing by any US Credit Party) allocated ratably among the Lender Parties in
proportion to the Dollar Equivalent of the respective amounts described in this clause Fifth
held by them;

(vi) Sixth, to the remaining Secured Obligations owed by any Credit Party including all
Secured Obligations for which the Company is liable as a Guarantor, allocated among such
remaining Secured Obligations as determined by the Administrative Agents and the Majority
Lenders and applied to such Secured Obligations in the order specified in this clause (b);
and

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(vii) Last, the balance, if any, after all of the Secured Obligations have been indefeasibly
paid in full, to applicable Borrower or as otherwise required by any Legal Requirement.

Subject to Section 2.3(h), amounts used to Cash Collateralize the aggregate undrawn amount of
Letters of Credit pursuant to clause Fourth above shall be applied to satisfy drawings under such
Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all
Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied
to the other Secured Obligations, if any, in the order set forth above.

     (c) After Event of Default (Canadian Collateral). If an Event of Default has occurred
and is continuing, any amounts received or collected from, or on account of assets held by, any
Foreign Credit Party shall be applied to the Canadian Obligations by the Canadian Administrative
Agent in the following order and manner:

(i) First, to payment of that portion of such Canadian Obligations constituting fees,
indemnities, expenses, and other amounts (including fees, charges, and disbursements of
counsel to any Administrative Agent and amounts payable under Sections 2.11, 2.13, and 2.15)
payable by any Foreign Credit Party to any Administrative Agent in its capacity as such;

(ii) Second, to payment of that portion of such Canadian Obligations constituting accrued
and unpaid interest, allocated ratably among the Canadian Lender Parties in proportion to
the Canadian Dollar Equivalent of the respective amounts described in this clause Second
payable to them;

(iii) Third, to payment of that portion of such Canadian Obligations constituting fees,
indemnities and other amounts (other than principal and interest) payable by any Foreign
Credit Party to the Canadian Secured Parties (including fees, charges and disbursements of
counsel to the respective Canadian Secured Parties and amounts payable under Article II),
ratably among such Canadian Secured Parties in proportion to the Canadian Dollar Equivalent
of the amounts described in this clause Third payable to them;

(iv) Fourth, to the Canadian Administrative Agent for the account of the Canadian Issuing
Lender to Cash Collateralize that portion of the Canadian Letter of Credit Obligations
comprised of the aggregate undrawn amount of Canadian Letters of Credit;

(v) Fifth, to payment of that portion of the Canadian Obligations constituting unpaid
principal of the Canadian Obligations payable by any Foreign Credit Party (including
obligations under Hedging Agreements with any Swap Counterparties owing by any Foreign
Credit Party) allocated ratably among the Canadian Lender Parties in proportion to the
Canadian Dollar Equivalent of the respective amounts described in this clause Fifth held by
them;

(vi) Seventh, to the remaining Canadian Obligations owed by any Foreign Credit Party
allocated among such remaining Canadian Obligations as determined by the Canadian
Administrative Agent and the Canadian Majority Lenders and applied to such Canadian
Obligations in the order specified in this clause (c); and

(vii) Last, the balance, if any, after all of the Canadian Obligations have been
indefeasibly paid in full, to the Canadian Borrower or as otherwise required by any Legal
Requirement.

Subject to Section 2.3(h), amounts used to Cash Collateralize the aggregate undrawn amount of
Canadian Letters of Credit pursuant to clause Fourth above shall be applied to satisfy drawings
under such

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Canadian Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral
after all Canadian Letters of Credit have either been fully drawn or expired, such remaining amount
shall be applied to the other Canadian Obligations, if any, in the order set forth above.

Section 7.7 Currency Conversion After Maturity. Notwithstanding any other provision in
this Agreement, on the date that there has been an acceleration of the maturity of the Obligations
or a termination of the obligations of the Lenders to make Credit Extensions hereunder as a result
of any Event of Default, (i) the Commitments shall automatically and without further act be
terminated; (ii) all Advances and all other Obligations under the US Facility denominated in any
Foreign Currency (including C$) shall be converted into, and all such amounts due thereunder shall
accrue and be payable in, Dollars at the Exchange Rate on such date; (iii) all Advances and all
other Obligations under the Canadian Facility denominated in Dollars shall be converted into, and
all such amounts due thereunder shall accrue and be payable in, Canadian Dollars at the Exchange
Rate on such date; and (iv) on and after such date the interest rate applicable to all such
Obligations shall be the Default Rate applicable to overdue Base Rate Advances hereunder. From and
after such date, all Advances under the US Facility shall be denominated only in, and all fees due
under this Agreement under the US Facility shall be payable in, Dollars and all Advances under the
Canadian Facility shall be denominated only in, and all fees due under this Agreement under the
Canadian Facility shall be payable in, Canadian Dollars.

ARTICLE VIII

THE ADMINISTRATIVE AGENTS AND ISSUING LENDERS

Section 8.1 Appointment and Authority. Each Lender and each Issuing Lender hereby (a)
irrevocably appoints Wells Fargo to act on its behalf as the US Administrative Agent hereunder and
under the other Credit Documents and HSBC to act on its behalf as the Canadian Administrative Agent
hereunder and under the other Credit Documents, and (b) authorizes such Administrative Agents to
take such actions on its behalf and to exercise such powers as are delegated to such Administrative
Agent by the terms hereof or thereof, together with such actions and powers as are reasonably
incidental thereto. The provisions of this Article VIII are solely for the benefit of the Lender
Parties, and neither the Company nor any other Credit Party shall have rights as a third party
beneficiary of any of such provisions. It is understood and agreed that the use of the term
“agent” herein or in any other Credit Documents (or any other similar term) with reference to
either Administrative Agent is not intended to connote any fiduciary or other implied (or express)
obligations arising under agency doctrine of any applicable Legal Requirement. Instead such term is
used as a matter of market custom, and is intended to create or reflect only an administrative
relationship between contracting parties.

Section 8.2 Rights as a Lender. The Person serving as the US Administrative Agent or
Canadian Administrative 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 the US Administrative
Agent or Canadian Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise
expressly indicated or unless the context otherwise requires, include the Person serving as the US
Administrative Agent or Canadian Administrative Agent hereunder in its individual capacity. Such
Person and its Affiliates may accept deposits from, lend money to, own securities, act as the
financial advisor or in any other advisory capacity for and generally engage in any kind of
business with the Company or any Subsidiary or other Affiliate thereof as if such Person were not
the US Administrative Agent or the Canadian Administrative Agent hereunder and without any duty to
account therefor to the Lenders. Wells Fargo and, from and after the Canadian Facility Effective
Date, HSBC (and any successor acting as US Administrative Agent or as Canadian Administrative
Agent) and their respective Affiliates may accept fees and other consideration from any Borrower or
any Subsidiary or Affiliate of a Subsidiary for services in connection with this Agreement or
otherwise without having to account for the same to the Lenders, the Issuing Lenders or the other
Administrative Agent.

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Section 8.3 Exculpatory Provisions. Neither Administrative Agent (which term as used in
this Section 8.3 shall include its Related Parties) shall have any duties or obligations except
those expressly set forth herein and in the other Credit Documents, and its duties hereunder shall
be administrative in nature. Without limiting the generality of the foregoing, neither
Administrative Agent:

     (a) shall be subject to any fiduciary or other implied duties, regardless of whether a Default
has occurred and is continuing;

     (b) 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 Credit
Documents that the such Administrative Agent is required to exercise as directed in writing by the
US Majority Lenders or Canadian Majority Lenders, as applicable (or such other number or percentage
of the Lenders as shall be expressly provided for herein or in the other Credit Documents),
provided that neither Administrative Agent shall be required to take any action that, in
its opinion or the opinion of its counsel, may expose such Administrative Agent to liability or
that is contrary to any Credit Document or applicable Legal Requirement, including for the
avoidance of doubt any action that may be in violation of the automatic stay under any Debtor
Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting
Lender in violation of any Debtor Relief Law; and

     (c) shall, except as expressly set forth herein and in the other Credit Documents, have any
duty to disclose, nor shall it be liable for the failure to disclose, any information relating to
the Company, any Credit Party or any of its Affiliates that is communicated to or obtained by the
Person serving as the US Administrative Agent or Canadian Administrative Agent or any of its
Affiliates in any capacity.

     (d) Neither Administrative Agent shall be liable for any action taken or not taken by it (i)
with the consent or at the request of the US Majority Lenders or Canadian Majority Lenders, as
applicable (or such other number or percentage of the Lenders as shall be necessary, or as such
Administrative Agent shall believe in good faith shall be necessary, under the circumstances as
provided in Sections 9.2 and 7.1) or (ii) in the absence of its own gross negligence or willful
misconduct as determined by a court of competent jurisdiction by final and non-appealable judgment.
Each Administrative Agent shall be deemed not to have knowledge of any Default unless and until
written notice describing such Default is given to such Administrative Agent by the Company, a
Lender or an Issuing Lender. In the event that an Administrative Agent receives such a notice of
the occurrence of a Default, such Administrative Agent shall (subject to Section 9.2) take such
action with respect to such Default or Event of Default as shall reasonably be directed by the
Majority Lenders, provided that, unless and until such Administrative Agent shall
have received such directions, such Administrative Agent may (but shall not be obligated to) take
such action, or refrain from taking such action, with respect to such Default as it shall deem
advisable in the best interest of the Secured Parties.

     (e) Neither Administrative Agent shall be responsible for or have any duty to ascertain or
inquire into (i) any recital, statement, warranty or representation (whether written or oral) made
in or in connection with this Agreement or any other Credit 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 value,
validity, enforceability, effectiveness, enforceability, sufficiency or genuineness of this
Agreement, any other Credit Document or any other agreement, instrument or document, (v) the
inspection of, or to inspect, the Property (including the books and records) of any Credit Party or
any Subsidiary or Affiliate thereof, (vi) the satisfaction of any condition set forth in Article
III or elsewhere herein, other than to confirm receipt of items expressly required to be delivered
to such Administrative Agent, or (vii) any litigation or collection proceedings (or

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to initiate or conduct any such litigation or proceedings) under any Credit Document unless
requested by the Majority Lenders in writing and it receives indemnification satisfactory to it
from the Lenders.

Section 8.4 Reliance by Administrative Agent and Issuing Lenders. Each Administrative
Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any
notice, request, certificate, consent, statement, instrument, document, writing or other
communication (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 Administrative 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 Credit Extension or any Conversion or continuance of an Advance that by its terms must
be fulfilled to the satisfaction of a Lender or an Issuing Lender, each Administrative Agent may
presume that such condition is satisfactory to such Lender or Issuing Lender unless such
Administrative Agent shall have received notice to the contrary from such Lender or Issuing Lender
prior to the making of such Credit Extension or Conversion or continuance of an Advance. Each
Administrative Agent may consult with legal counsel (who may be counsel for the Company),
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 8.5 Delegation of Duties. Each Administrative Agent may perform any and all of its
duties and exercise its rights and powers hereunder or under any other Credit Document by or
through any one or more sub-agents appointed by such Administrative Agent. Each Administrative
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
shall apply to any such sub-agent and to the Related Parties of each Administrative Agent and any
such sub-agent, and shall apply to their respective activities in connection with the syndication
of the Facilities provided for herein as well as activities as Administrative Agent. Neither
Administrative Agent shall be responsible for the negligence or misconduct of any sub-agents except
to the extent that a court of competent jurisdiction determines in a final and non appealable
judgment that such Administrative Agent acted with gross negligence or willful misconduct in the
selection of such sub agents.

Section 8.6 Resignation of Administrative Agent or Issuing Lender. Each Administrative
Agent and each Issuing Lender may at any time give notice of its resignation to the other Lender
Parties and the Borrowers. Upon receipt of any such notice of resignation, (a) the US Majority
Lenders shall have the right, in consultation with the US Borrower, to appoint a successor US
Administrative Agent, which shall be a bank with an office in Houston, Texas or an Affiliate of any
such bank with an office in Houston, Texas, (b) the US Majority Lenders shall have the right, in
consultation with the US Borrower to appoint a successor US Issuing Lender, which shall be a Lender
with an office in Houston, Texas or an Affiliate of any such Lender with an office in Houston,
Texas, (c) the Canadian Majority Lenders shall have the right, in consultation with the Canadian
Borrower, to appoint a successor Canadian Administrative Agent and Canadian Issuing Lender, which
shall be a bank with an office in Calgary, Alberta Canada, or an Affiliate of any such bank with an
office in Calgary, Alberta Canada. If no such successor shall have been so appointed and shall
have accepted such appointment within 30 days after the retiring Administrative Agent or Issuing
Lender gives notice of its resignation, then the retiring Administrative Agent or Issuing Lender,
as applicable, may on behalf of the Lenders and Issuing Lenders, appoint a successor agent or
issuing lender meeting the qualifications set forth above provided that if the retiring
Administrative Agent or Issuing Lender shall notify the Borrowers 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 Administrative Agent or Issuing
Lender, as applicable, shall be discharged from its duties and obligations hereunder and under the
other Credit Documents (except that (y) in the case of any collateral security held by such
Administrative Agent on behalf of the

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Lenders or an Issuing Lender under any of the Credit Documents, the retiring Administrative Agent
shall continue to hold such collateral security until such time as a successor Administrative Agent
is appointed and (z) the retiring Issuing Lender shall remain the Issuing Lender with respect to
any Letters of Credit outstanding on the effective date of its resignation and the provisions
affecting the Issuing Lender with respect to such Letters of Credit shall inure to the benefit of
the retiring Issuing Lender until the termination of all such Letters of Credit.), and (2) all
payments, communications and determinations provided to be made by, to or through the retiring
Administrative Agent or Issuing Lender, as applicable, shall instead be made by or to each
applicable class of Lenders, until such time as the applicable Majority Lenders appoint a successor
Administrative Agent or Issuing Lender as provided for above in this paragraph. Upon the
acceptance of a successor’s appointment as Administrative Agent or Issuing Lender hereunder, such
successor shall succeed to and become vested with all of the rights, powers, privileges and duties
of the retiring (or retired) Administrative Agent or Issuing Lender, as applicable, and the
retiring Administrative Agent or Issuing Lender, as applicable, shall be discharged from all of its
duties and obligations hereunder or under the other Credit Documents (if not already discharged
therefrom as provided above in this paragraph). The fees payable by the Borrowers to a successor
Administrative Agent or Issuing Lender, as applicable shall be the same as those payable to its
predecessor unless otherwise agreed between the Borrowers and such successor. After the retiring
Administrative Agent’s or Issuing Lender’s resignation hereunder and under the other Credit
Documents, the provisions of this Article and Sections 9.1 and Section 2.3(g) shall continue in
effect for the benefit of such retiring Administrative Agent and Issuing Lender, 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 Administrative Agent or Issuing Lender, as applicable, was acting as US
Administrative Agent, Canadian Administrative Agent, US Issuing Lender or Canadian Issuing Lender.

Section 8.7 Non-Reliance on Administrative Agent and Other Lenders. Each Lender Party
acknowledges and agrees that it has, independently and without reliance upon either Administrative
Agent or any other Lender Party or any of their Related Parties, 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 Party also acknowledges and agrees that it will, independently and
without reliance upon either Administrative Agent or any other Lender Party or any of their Related
Parties, 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 Credit Document or any related agreement or any document furnished
hereunder or thereunder. Except for notices, reports, and other documents and information
expressly required to be furnished to the Lenders or the Issuing Lender by the Applicable
Administrative Agent hereunder and for other information in the Applicable Administrative Agent’s
possession which has been requested by a Lender and for which such Lender pays the Applicable
Administrative Agent’s expenses in connection therewith, the Administrative Agents shall not have
any duty or responsibility to provide any Lender or Issuing Lender with any credit or other
information concerning the affairs, financial condition, or business of any Credit Party or any of
its Subsidiaries or Affiliates that may come into the possession of the Applicable Administrative
Agent or any of its Affiliates.

Section 8.8 No Other Duties, etc. Anything herein to the contrary notwithstanding, none of
the Bookrunners, Arrangers, Syndication Agents and Documentation Agents listed on the cover page
hereof shall have any powers, duties or responsibilities under this Agreement or any of the other
Credit Documents, except in its capacity, as applicable, as the US Administrative Agent, Canadian
Administrative Agent, a Lender or an Issuing Lender hereunder.

Section 8.9 Collateral Matters.

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     (a) Each Administrative Agent is authorized on behalf of the Secured Parties, without the
necessity of any notice to or further consent from the Secured Parties, from time to time, to take
any actions with respect to any Collateral or Security Documents which may be necessary to perfect
and maintain Acceptable Security Interests in and Liens upon the Collateral granted pursuant to the
Security Documents. Each Administrative Agent is further authorized (but not obligated) on behalf
of the Secured Parties, without the necessity of any notice to or further consent from the Secured
Parties, from time to time, to take any action (other than enforcement actions requiring the
consent of, or request by, the Majority Lenders as set forth in Section 7.2(c) or Section 7.3(c)
above) in exigent circumstances as may be reasonably necessary to preserve any rights or privileges
of the Lenders under the Credit Documents or applicable Legal Requirement.

     (b) The Lenders, and any other Secured Party by accepting the benefit of the Liens granted
pursuant to the Security Documents, hereby irrevocably authorize each Administrative Agent to (i)
release any Lien granted to or held by such Administrative Agent upon any Collateral (a) upon
termination of this Agreement, termination of all Hedging Arrangements with such Persons,
termination of all Letters of Credit (other than Letters of Credit as to which other arrangements
reasonably satisfactory to the Applicable Issuing Lender have been made), and the payment in full
of all outstanding Advances, Letter of Credit Obligations (other than with respect to Letters of
Credit as to which other arrangements reasonably satisfactory to the Applicable Issuing Lender have
been made) and all other Secured Obligations payable under this Agreement and under any other
Credit Document; (b) constituting property sold or to be sold or disposed of as part of or in
connection with any Disposition permitted under this Agreement or any other Credit Document; (c)
constituting property in which no Credit Party owned an interest at the time the Lien was granted
or at any time thereafter; (d) constituting property leased to any Credit Party under a lease which
has expired or has been terminated in a transaction permitted under this Agreement or is about to
expire and which has not been, and is not intended by such Credit Party to be, renewed or extended;
(e) constituting assets held by a Restricted Subsidiary upon designation of such Restricted
Subsidiary as an Unrestricted Subsidiary pursuant to and in accordance with Section 5.11(b); (ii)
subordinate any Lien on any property granted to or held by such Administrative Agent under any
Credit Document to the holder of any Lien on such property that is permitted by Section 6.2(g); or
(g) constituting Excluded Perfection Collateral (to the extent necessary to release the perfection
of the Lien granted thereon in the name of Wells Fargo Capital Finance), Excluded Properties
(Canada) or Excluded Properties (US); and (ii) release a Guarantor from its obligations under a
Guaranty and any other applicable Credit Document if such Person ceases to be a Restricted
Subsidiary as a result of a transaction permitted under this Agreement.

     (c) Upon request by an Administrative Agent at any time, the Secured Parties will confirm in
writing such Administrative Agent’s authority to release or subordinate its interest in particular
types or items of property, or to release any Guarantor from its obligations under its Guaranty
pursuant to this Section 8.9. Neither Administrative Agent shall be responsible for or have a duty
to ascertain or inquire into any representation or warranty regarding the existence, value or
collectability of the Collateral, the existence, priority or perfection of either Administrative
Agent’s Lien thereon, or any certificate prepared by any Credit Party in connection therewith, nor
shall either Administrative Agent be responsible or liable to the Secured Parties or any other
Lender Party for any failure to monitor or maintain any portion of the Collateral.

     (d) Notwithstanding anything contained in any of the Credit Documents to the contrary, the
Credit Parties, the Administrative Agents, and each Secured Party hereby agree that no Secured
Party shall have any right individually to realize upon any of the Collateral or to enforce the
Guaranties, it being understood and agreed that all powers, rights and remedies under the
Guaranties and under the Security Documents may be exercised solely by Applicable Administrative
Agent on behalf of the Secured Parties in accordance with the terms hereof and the other Credit
Documents.

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     (e) By accepting the benefit of the Liens granted pursuant to the Security Documents, each
Secured Party hereby agrees to the terms of this Section 8.9.

Section 8.10 Marshalling Rights of Lender Parties; Allocation of Losses. Notwithstanding
anything herein or in any other Credit Document to the contrary, the Canadian Secured Parties, by
receipt of the benefits of the US Collateral, hereby acknowledge the marshalling rights of the US
Administrative Agent and US Lenders. The Canadian Administrative Agent is hereby authorized on
behalf of the Canadian Lenders for the Canadian Lenders and its Affiliates that are Swap
Counterparties to, and the US Administrative Agent is hereby authorized on behalf of the US Lenders
for the US Lenders and its Affiliates that are Swap Counterparties to, enter into an intercreditor
agreement in form and substance reasonably acceptable to the Administrative Agents addressing
certain allocation of losses among the Secured Parties, as more particularly provided therein. A
form of such intercreditor agreement will be made available to each Secured Party on the Canadian
Facility Effective Date and thereafter upon request. Each Secured Party acknowledges and agrees to
the terms of such intercreditor agreement and agrees that the terms thereof shall be binding on
such Secured Party and its successors and assigns, as if it were a party thereto.

ARTICLE IX

MISCELLANEOUS

Section 9.1 Expenses; Indemnity; Damage Waiver.

     (a) Costs and Expenses. Each Borrower shall pay (i) all reasonable out-of-pocket
expenses incurred by any Administrative Agent and its Affiliates (including the reasonable fees,
charges and disbursements of counsel for such Administrative Agent), in connection with the
syndication of the credit facilities provided for herein, the preparation, negotiation, execution,
delivery and administration of this Agreement and the other Credit Documents or any amendments,
modifications or waivers of the provisions hereof or thereof (whether or not the transactions
contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses
incurred by Issuing Lenders in connection with the issuance, amendment, renewal or extension of any
Letter of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred
by any Lender Party (including the fees, charges and disbursements of any counsel for any Lender
Party), in connection with the enforcement or protection of its rights (A) in connection with this
Agreement and the other Credit Documents, including its rights under this Section, or (B) in
connection with the Advances 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 Advances or Letters of Credit.

     (b) Indemnification by the Borrowers. Each Borrower shall, and does hereby indemnify,
each Administrative Agent (and any sub-agent thereof), each Lender, each Swingline Lender and each
Issuing Lender, 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 any Borrower or any other Credit Party arising out of, in
connection with, or as a result of (i) the execution or delivery of this Agreement, any other
Credit Document or any agreement or instrument contemplated hereby or thereby, the performance by
the parties hereto of their respective obligations hereunder or thereunder, the consummation of the
transactions contemplated hereby or thereby, or, in the case of any Administrative Agent (and any
sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other
Credit Documents, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds
therefrom (including any refusal by an Issuing Lender to honor a demand for payment under a Letter
of Credit if the documents presented in connection with such demand do not strictly

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comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or
release of Hazardous Materials on or from any property owned or operated by any Borrower or any of
its Subsidiaries, or any Environmental Liability related in any way to any Borrower or any of its
Subsidiaries, 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 the Company or any other Credit Party, and regardless of whether any
Indemnitee is a party thereto, IN ALL CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN
PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE; 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 from the gross negligence or
willful misconduct of such Indemnitee or (y) result from a claim brought by the Company or any
other Credit Party against an Indemnitee for breach in bad faith of such Indemnitee’s obligations
hereunder or under any other Credit Document, if the Company or such other Credit 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 the Borrowers for any reason fail to
indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it
to any Administrative Agent (or any sub-agent thereof), any Issuing Lender, Swingline Lender or any
Related Party of any of the foregoing, each Lender severally agrees to pay to such Administrative
Agent (or any such sub-agent), such Issuing Lender, 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 based on each Lender’s share of the aggregate
Maximum Exposure Amount at such time) of such unpaid amount (including any such unpaid amount in
respect of a claim asserted by such Lender); provided that with respect to such unpaid
amounts owed to any Administrative Agent, Issuing Lender or Swingline Lender solely in its capacity
as such, only the Lenders of the applicable Facility shall be required to pay such unpaid amounts,
such payment to be made severally among them based on such Lenders’ Applicable Percentage
(determined as of the time that the applicable unreimbursed expense or indemnity payment is
sought), provided further that the unreimbursed expense or indemnified loss, claim, damage,
liability or related expense, as the case may be, was incurred by or asserted against such
Administrative Agent (or any such sub-agent), such Issuing Lender or the Swingline Lender in its
capacity as such, or against any Related Party of any of the foregoing acting for such
Administrative Agent (or any such sub-agent), such Issuing Lender or Swingline Lender in connection
with such capacity. The obligations of the Lenders under this subsection (c) are subject to the
provisions of Section2.6(f).

     (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable Legal Requirement, no party hereto shall assert, and each party hereto 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 Credit Document or any agreement or instrument
contemplated hereby, the transactions contemplated hereby or thereby, any Advance or Letter of
Credit or the use of the proceeds thereof. For the avoidance of doubt, the foregoing sentence is
not intended as, and shall not be construed as, a limitation or impairment of the Borrowers’
obligations under subsection (b) above. No Indemnitee referred to in subsection (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 Credit Documents or the
transactions contemplated hereby or thereby other than for direct or actual damages resulting from
the gross negligence or willful misconduct of such Indemnitee as determined by a final and
nonappealable judgment of a court of competent jurisdiction.

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     (e) Payments. All amounts due under this Section shall be payable not later than ten
Business Days after written demand therefor.

     (f) Survival. Without prejudice to the survival of any other agreement hereunder, the
agreements in this Section shall survive the resignation of any Administrative Agent and any
Issuing Lender, the replacement of any Lender, the termination of the Aggregate Commitments,
termination or expiration of all Letters of Credit, and the repayment, satisfaction or discharge of
all the other Obligations.

Section 9.2 Waivers and Amendments. No amendment or waiver of any provision of this
Agreement, the Notes, or any other Credit Document (other than the Fee Letter or any AutoBorrow
Agreement), nor consent to any departure by any Credit Party therefrom, shall in any event be
effective unless the same shall be in writing and signed by the applicable Majority Lenders and the
Applicable Borrower, and then such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given; provided that:

          (a) no amendment, waiver, or consent shall, unless in writing and signed by all the US Lenders
and the US Borrower (in addition to such other parties that may be required under this Section
9.2), change the number of US Lenders which shall be required for the US Lenders to take any action
hereunder or under any other Credit Document;

          (b) no amendment, waiver, or consent shall, unless in writing and signed by all the Canadian
Lenders and the Canadian Borrower, change the number of Canadian Lenders which shall be required
for the Canadian Lenders to take any action hereunder or under any other Credit Document;

          (c) no amendment, waiver, or consent shall, unless in writing and signed by all the Lenders
and both Borrowers, do any of the following: (i) waive any of the conditions specified in Section
3.1 or Section 3.2, (ii) increase the aggregate Commitments (except pursuant to Section 2.1(f)),
(iii) amend Section 2.14(f), Section 7.6, this Section 9.2 or any other provision in any Credit
Document which expressly requires the consent of, or action or waiver by, all of the Lenders, (iv)
release all or substantially all of the Guarantors from their respective obligations under any
Guaranty except as specifically provided in the Credit Documents or release the US Borrower from
its obligations under the US Guaranty, (v) release all or substantially all of the Collateral
except as permitted under Section 8.9(b), or (vi) amend the definitions of “Majority Lenders”, “US
Majority Lenders”, “Canadian Majority Lenders”, or “Maximum Exposure Amount”;

          (d) no amendment, waiver, or consent shall, unless in writing and signed by each Lender
directly and adversely affected thereby, do any of the following: (i) postpone any date fixed for
any interest, fees or other amounts payable hereunder or extend the Maturity Date as to such
Lender, (ii) reduce any fees or other amounts payable hereunder or under any other Credit Document
(other than the principal or interest), (iii) reduce the principal or interest amounts payable
hereunder or under any other Credit Document to such Lender (provided that, the consent of
the Majority Lenders shall be sufficient to waive or reduce the increased portion of interest
resulting from Section 2.10(g)), or (iv) increase the Commitment of such Lender;

          (e) no Commitment of a Lender or any obligations of a Lender may be increased without such
Lender’s written consent;

          (f) no amendment, waiver, or consent shall, unless in writing and signed by the applicable
Administrative Agent in addition to the Lenders required above to take such action, affect the
rights or duties of such Administrative Agent under this Agreement or any other Credit Document;

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          (g) no amendment, waiver or consent shall, unless in writing and signed by the Applicable
Issuing Lender in addition to the Lenders required above to take such action, affect the rights or
duties of such Issuing Lender under this Agreement or any other Credit Document; and

          (h) no amendment, waiver or consent shall, unless in writing and signed by the Applicable
Swingline Lender in addition to the Lenders required above to take such action, affect the rights
or duties of such Swingline Lender under this Agreement or any other Credit Document.

For the avoidance of doubt, no Lender or any Affiliate of a Lender shall have any voting rights
under this Agreement or any Credit Document as a result of the existence of obligations owed to it
under Hedging Arrangements or Banking Services Obligations.

Section 9.3 Severability. In case one or more provisions of this Agreement or the other
Credit Documents shall be invalid, illegal or unenforceable in any respect under any applicable
Legal Requirement, the validity, legality, and enforceability of the remaining provisions contained
herein or therein shall not be affected or impaired thereby.

Section 9.4 Survival of Representations and Obligations. All representations and
warranties contained in this Agreement or made in writing by or on behalf of any Credit Party in
connection herewith shall survive the execution and delivery of this Agreement and the other Credit
Documents, the making Credit Extensions and any investigation made by or on behalf of the Lenders,
none of which investigations shall diminish any Lender’s right to rely on such representations and
warranties. Without limiting the provisions hereof which expressly provide for the survival of
obligations, all obligations of any Borrower provided for in Sections 2.10(g), 2.12, 2.13, 2.15(b),
and 9.1 and all of the obligations of the Lenders in Section 9.1 shall survive any termination of
this Agreement, repayment in full of the Obligations, and termination or expiration of all Letters
of Credit.

Section 9.5 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 neither Borrower may assign or otherwise transfer any of its
rights or obligations hereunder without the prior written consent of each Lender Party and no
Lender may assign or otherwise transfer any of its rights or obligations hereunder except (a) to an
Eligible Assignee in accordance with the provisions of Section 9.6(a), (b) by way of participation
in accordance with the provisions of Section 9.6(d) or (c) by way of pledge or assignment of a
security interest subject to the restrictions of Section 9.6(e) (and any other attempted assignment
or transfer by any party hereto 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 Section
9.6(c) and, to the extent expressly contemplated hereby, the Related Parties of each Administrative
Agent and each Lender) any legal or equitable right, remedy or claim under or by reason of this
Agreement.

Section 9.6 Lender Assignments and Participations.

     (a) 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 Advances at the time owing to it); provided that

(i) except in the case of an assignment of the entire remaining amount of the assigning
Lender’s applicable Commitment and the Advances under such Commitment 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

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includes Advances outstanding thereunder) or, if the applicable Commitment is not then in
effect, the principal outstanding balance of the Advances 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 Applicable Administrative Agent or, if “Trade Date”
is specified in the Assignment and Assumption, as of the Trade Date) shall not be less than
$3,000,000 in the case of any assignment in respect the Facilities, unless the Applicable
Administrative Agent and, so long as no Event of Default has occurred and is continuing, the
Borrowers otherwise consent (each such consent not to be unreasonably withheld or
delayed); provided, however, that concurrent assignments to members of an
Assignee Group and concurrent assignments from members of an Assignee Group to a single
Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be
treated as a single assignment for purposes of determining whether such minimum amount has
been met;

(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
applicable Class of Advances or the applicable 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 Facilities on a non-pro rata basis;

(iii) any assignment of a Commitment must be approved by the Applicable Administrative Agent
and the Applicable Issuing Lender unless the Person that is the proposed assignee is itself
a Lender with a Commitment (whether or not the proposed assignee would otherwise qualify as
an Eligible Assignee);

(iv) the parties to each assignment shall execute and deliver to the Applicable
Administrative Agent an Assignment and Assumption, together with a processing and
recordation fee of $3,500 (it being understood that only one such processing fee is payable
for the series of concurrent assignments to members of an Assignee Group or the series of
concurrent assignments from members of an Assignee Group to a single Eligible Assignee or to
an Eligible Assignee and members of its Assignee Group) and the Eligible Assignee, if it
shall not be a Lender, shall deliver to the Applicable Administrative Agent an
Administrative Questionnaire; provided that the Applicable Administrative Agent may,
in its sole discretion, elect to waive such processing and recordation fee in the case of
any assignment;

(v) copies of any Assignment and Assumption received by the Canadian Administrative Agent
shall be promptly forwarded to the US Administrative Agent; and

(vi) in connection with any assignment of rights and obligations of any Defaulting Lender
hereunder, no such assignment shall be effective unless and until, in addition to the other
conditions thereto set forth herein, the parties to the assignment shall make such
additional payments to the Applicable Administrative Agent in an aggregate amount
sufficient, upon distribution thereof as appropriate (which may be outright payment,
purchases by the assignee of participations or subparticipations, or other compensating
actions, including funding, with the consent of the Applicable Borrower and the Applicable
Administrative Agent, the applicable pro rata share of Advances previously requested but not
funded by the Defaulting Lender, to each of which the applicable assignee and assignor
hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then
owed by such Defaulting Lender to the Applicable Administrative Agent, Applicable Issuing
Lender, Applicable Swingline Lender and each other Lender hereunder (and interest accrued
thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all Advances
and participations in Letters of Credit and Swingline Advances in accordance with its
Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment of

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rights and obligations of any Defaulting Lender hereunder shall become effective under
applicable Legal Requirement without compliance with the provisions of this clause (vi),
then the assignee of such interest shall be deemed to be a Defaulting Lender for all
purposes of this Agreement until such compliance occurs.

Subject to acceptance and recording thereof by the Applicable Administrative Agent pursuant to
paragraph (b) of this Section, 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(b), 9.1(a), 9.1(b),
9.1(c), and 9.1(d) with respect to facts and circumstances occurring prior to the effective date of
such assignment, provided, that except to the extent otherwise expressly agreed by the affected
parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of
any party hereunder arising from that Lender’s having been a Defaulting Lender. 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 (c) of this Section.

     (b) Register. The US Administrative Agent, acting solely for this purpose as an agent
of the US Borrower, shall maintain at one of its offices in Charlotte, North Carolina or Houston,
Texas a copy of each Assignment and Assumption delivered to it and a register for the recordation
of the names and addresses of the US Lenders and the US Commitments of, and principal amounts of
the US Advances owing to, each US Lender pursuant to the terms hereof from time to time (the
“US Register”). The Canadian Administrative Agent, acting solely for this purpose as an
agent of the Canadian Borrower, shall maintain at one of its offices in Calgary, Alberta Canada a
copy of each Assignment and Assumption delivered to it and a register for the recordation of the
names and addresses of the Canadian Lenders, and the Canadian Commitments of, and principal amounts
of the Canadian Advances owing to, each Lender pursuant to the terms hereof from time to time (the
“Canadian Register”; together with the US Register, the “Registers”). The
entries in the applicable Register shall be conclusive absent manifest error, and the Borrowers and
the Lender Parties may treat each Person whose name is recorded in the applicable Register pursuant
to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding
notice to the contrary. Each Borrower hereby agrees that the Applicable Administrative Agent
acting as its agent solely for the purpose set forth above in this clause (b), shall not subject
either Administrative Agent to any fiduciary or other implied duties, all of which are hereby
waived by each Borrower.

     (c) Participations. Any Lender may at any time, without the consent of, or notice to,
any Borrower or any Administrative Agent, sell participations to any Person (other than a natural
person or the Company or any of the Company’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 Commitments and/or the Advances 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) the Borrowers and the Lender Parties shall continue to deal solely and
directly with such Lender Party in connection with such Lender Party’s rights and obligations under
this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity
under Section 9.1(c) with respect to any payments made by such Lender to its Participant(s).

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     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 this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; 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 clauses (a) — (g) of
Section 9.2 (that adversely affects such Participant). Subject to paragraph (d) of this Section,
each Borrower agrees that each Participant shall be entitled to the benefits of, and subject to the
requirements of, Sections 2.12, 2.13 and 2.15 to the same extent as if it were a Lender and had
acquired its interest by assignment pursuant to paragraph (a) of this Section provided that such
Participant agrees to be subject to the provisions of Section 2.16 as if it were an assignee under
clause (a) of this Section. To the extent permitted by law, each Participant also shall be
entitled to the benefits of Section 7.4 as though it were a Lender, provided such Participant
agrees to be subject to Section 2.14(f) as though it were a Lender.

     (d) Limitations upon Participant Rights. A Participant shall not be entitled to
receive any greater payment under Section 2.13 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 the Applicable Borrower’s prior written consent. A
Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the
benefits of Section 2.15 unless the Applicable Borrower is notified of the participation sold to
such Participant and such Participant agrees, for the benefit of such Borrower, to comply with
Section 2.15(d), in which case Section 2.15 shall be applied as if such Participant had become a
Lender and had acquired its interest by assignment pursuant to paragraph (a) of this Section;
provided that, in no event shall such Participant be entitled to receive any greater payment under
Section 2.15 than the applicable Lender would have been entitled to receive with respect to the
participation sold to such Participant.

     (e) 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.

Section 9.7 Notices, Etc.

     (a) Notices Generally. Except in the case of notices and other communications
expressly permitted to be given by telephone or such other method of delivery (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 facsimile as follows: (i) if to the US Borrower, the Canadian Borrower,
or any other Credit Party, at the applicable address (or facsimile numbers) set forth on Schedule
III, as it may have been updated pursuant to Section 2.17(f); (ii) if to the US Administrative
Agent, Canadian Administrative Agent, US Issuing Lender or Canadian Issuing Lender, at the
applicable address (or facsimile numbers) set forth on Schedule III, as it may have been updated
pursuant to Section 2.17(f); and (iii) if to a Lender, to it at its address (or facsimile number)
set forth in its Administrative Questionnaire. 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 facsimile 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.

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(i) The Borrowers and the Lenders agree that the Administrative Agents may make any material
delivered by any Borrower to any Administrative Agent, as well as any amendments, waivers,
consents, and other written information, documents, instruments and other materials relating
to the Company, any of its Subsidiaries, or any other materials or matters relating to this
Agreement, the Notes or any of the transactions contemplated hereby (collectively, the
“Communications”) available to the Lenders by posting such notices on an electronic
delivery system (which may be provided by any Administrative Agent, an Affiliate of an
Administrative Agent, or any Person that is not an Affiliate of an Administrative Agent),
such as IntraLinks, or a substantially similar electronic system (the “Platform”).
The Borrowers acknowledge that (i) the distribution of material through an electronic medium
is not necessarily secure and that there are confidentiality and other risks associated with
such distribution, (ii) the Platform is provided “as is” and “as available” and (iii) none
of the Administrative Agents nor any of their respective Affiliates warrants the accuracy,
completeness, timeliness, sufficiency, or sequencing of the Communications posted on the
Platform. The Administrative Agents and their respective Affiliates expressly disclaim with
respect to the Platform any liability for errors in transmission, incorrect or incomplete
downloading, delays in posting or delivery, or problems accessing the Communications posted
on the Platform and any liability for any losses, costs, expenses or liabilities that may be
suffered or incurred in connection with the Platform. 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 either Administrative Agent or any of their
respective Affiliates in connection with the Platform. In no event shall any Administrative
Agent or any of its Related Parties have any liability to the Company or the other Credit
Parties, any Lender Party or any other Person or entity for damages of any kind, including,
without limitation, direct or indirect, special, incidental or consequential damages, losses
or expenses (whether in tort, contract or otherwise) arising out of the Company’s, any
Credit Party’s or any Lender Party’s transmission of communications through the Platform.

(ii) Each Lender agrees that notice to it (as provided in the next sentence) (a
“Notice”) specifying that any Communication has been posted to the Platform shall
for purposes of this Agreement constitute effective delivery to such Lender of such
information, documents or other materials comprising such Communication. Each Lender agrees
(i) to notify, on or before the date such Lender becomes a party to this Agreement, the
Applicable Agent in writing of such Lender’s e-mail address to which a Notice may be sent
(and from time to time thereafter to ensure that the Agent has on record an effective e-mail
address for such Lender) and (ii) that any Notice may be sent to such e-mail address.

     (c) Change of Address, Etc. Any party hereto may change its address or facsimile
number for notices and other communications hereunder by notice to the other parties hereto.

Section 9.8 Confidentiality. Each Lender Party 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, 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 regulatory authority purporting to
have jurisdiction over it (including any self-regulatory authority, such as the National
Association of Insurance Commissioners), (c) to the extent required by applicable Legal Requirement
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 Credit Document or any action or
proceeding relating to this Agreement or any other Credit Document or the enforcement of rights
hereunder or thereunder, (f) subject to an agreement containing provisions

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substantially the same as those of this Section, 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 or
(ii) any actual or prospective counterparty (or its Related Parties) to any swap, derivative or
other transaction under which payments are to be made by reference to the Company and its
obligations, this Agreement or payments hereunder, (g) on a confidential basis to (i) any rating
agency in connection with rating the Company or its Subsidiaries or the Facilities or (ii) the
CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP
numbers with respect to the Facilities, (h) with the consent of the Company or (i) 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 any Lender Party or any of their respective Affiliates on a
nonconfidential basis from a source other than a Credit Party. For purposes of this Section,
“Information” means all information received from the Company or any of its Restricted
Subsidiaries relating to the Company or any of its Restricted Subsidiaries or any of their
respective businesses, other than any such information that is available to Lender Party on a
nonconfidential basis prior to disclosure by the Company or any of its Restricted Subsidiaries.
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. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN,
nothing in this Agreement shall (a) restrict any Lender Party from providing information to any
bank or other regulatory or Governmental Authorities, including the Federal Reserve Board and its
supervisory staff; (b) require or permit any Lender Party to disclose to any Credit Party that any
information will be or was provided to the Federal Reserve Board or any of its supervisory staff;
or (c) require or permit any Lender Party to inform any Credit Party of a current or upcoming
Federal Reserve Board examination or any nonpublic Federal Reserve Board supervisory initiative or
action.

Section 9.9 US Administrative Agent May File Proofs of Claim. In case of the pendency of
any proceeding under any Debtor Relief Law, the US Administrative Agent (irrespective of whether
the principal of any US Advance or US Letter of Credit Obligation shall then be due and payable as
herein expressed or by declaration or otherwise and irrespective of whether the US Administrative
Agent shall have made any demand on the US Borrower) shall be entitled and empowered (but not
obligated) by intervention in such proceeding or otherwise:

     (a) to file and prove a claim for the whole amount of the principal and interest owing and
unpaid in respect of the US Advances, US Letter of Credit Obligations and all other Obligations
under the US Facility that are owing and unpaid and to file such other documents as may be
necessary or advisable in order to have the claims of the US Lenders, the US Issuing Lender and the
US Administrative Agent (including any claim for the reasonable compensation, expenses,
disbursements and advances of the US Lenders, the US Issuing Lender and the US Administrative Agent
and their respective agents and counsel and all other amounts due the US Lenders, the US Issuing
Lender and the US Administrative Agent under Sections 2.9 and 9.1) allowed in such judicial
proceeding; and

     (b) to collect and receive any monies or other property payable or deliverable on any such
claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each US Lender and US Issuing Lender to
make such payments to the US Administrative Agent and, in the event that the US Administrative
Agent shall consent to the making of such payments directly to the US Lenders and the US Issuing
Lender, to pay to the US Administrative Agent any amount due for the reasonable compensation,
expenses, disbursements and advances of the US Administrative Agent and its agents and counsel, and
any other amounts due the US Administrative Agent under Sections 2.9 and 9.1.

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Section 9.10 Usury Not Intended. It is the intent of each Credit Party and each Lender
Party in the execution and performance of this Agreement and the other Credit Documents to contract
in strict compliance with applicable usury laws, including conflicts of law concepts, governing the
Advances of each Lender including such applicable Legal Requirements of the State of New York, if
any, and the United States of America and Canada from time to time in effect, including the
Criminal Code (Canada). In furtherance thereof, the Lender Parties and the Credit Parties
stipulate and agree that none of the terms and provisions contained in this Agreement or the other
Credit Documents shall ever be construed to create a contract to pay, as consideration for the use,
forbearance or detention of money, interest at a rate in excess of the Maximum Rate and that for
purposes of this Agreement “interest” shall include the aggregate of all charges which constitute
interest under such laws that are contracted for, charged or received under this Agreement; and in
the event that, notwithstanding the foregoing, under any circumstances the aggregate amounts taken,
reserved, charged, received or paid on the Advances, include amounts which by applicable Legal
Requirement are deemed interest which would exceed the Maximum Rate, then such excess shall be
deemed to be a mistake and each Lender receiving same shall credit the same on the principal of its
Obligations (or if such Obligations shall have been paid in full, refund said excess to the
Applicable Borrower). In the event that the maturity of the Obligations are accelerated by reason
of any election of the holder thereof resulting from any Event of Default under this Agreement or
otherwise, or in the event of any required or permitted prepayment, then such consideration that
constitutes interest may never include more than the Maximum Rate, and excess interest, if any,
provided for in this Agreement or otherwise shall be canceled automatically as of the date of such
acceleration or prepayment and, if theretofore paid, shall be credited on the applicable
Obligations (or, if the applicable Obligations shall have been paid in full, refunded to the
Applicable Borrower of such interest). In determining whether or not the interest paid or payable
under any specific contingencies exceeds the Maximum Rate, the Credit Parties and the Lender
Parties shall to the maximum extent permitted under applicable Legal Requirement amortize, prorate,
allocate and spread in equal parts during the period of the full stated term of the Obligations all
amounts considered to be interest under applicable Legal Requirement at any time contracted for,
charged, received or reserved in connection with the Obligations. The provisions of this Section
shall control over all other provisions of this Agreement or the other Credit Documents which may
be in apparent conflict herewith. Notwithstanding any other provision of this Agreement or any
Credit Document, no Credit Party existing under the laws of Canada or any province or territory of
Canada shall be obligated to make any payments of interest or other amounts payable to the Lender
Parties in excess of an amount or rate which would be prohibited by law or would result in the
receipt by the Lender Parties of interest at a criminal rate (as such terms are construed under the
Criminal Code (Canada).

Section 9.11 Usury Recapture. In the event the rate of interest chargeable under this
Agreement or any other Credit Document at any time is greater than the Maximum Rate, the unpaid
principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of
interest paid or accrued on the Advances equals the amount of interest which would have been paid
or accrued on the Advances if the stated rates of interest set forth in this Agreement or
applicable Credit Document had at all times been in effect. In the event, upon payment in full of
the Advances, the total amount of interest paid or accrued under the terms of this Agreement and
the Advances is less than the total amount of interest which would have been paid or accrued if the
rates of interest set forth in this Agreement or such Credit Document had, at all times, been in
effect, then the applicable Borrower shall, to the extent permitted by applicable Legal
Requirement, pay the Applicable Administrative Agent for the account of the applicable Lender Party
an amount equal to the difference between (i) the lesser of (A) the amount of interest which would
have been charged on Advances owed to it if the Maximum Rate had, at all times, been in effect and
(B) the amount of interest which would have accrued on such Advances if the rates of interest set
forth in this Agreement had at all times been in effect and (ii) the amount of interest actually
paid under this Agreement or any Credit Document on Advances owed to it. In the event the any
Lender Party ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such
excess amount shall, to the extent permitted by

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law, be applied to the reduction of the principal balance of the Advances, and if no such principal
is then outstanding, such excess or part thereof remaining shall be paid to the applicable
Borrower.

Section 9.12 Judgment Currency. If for the purposes of obtaining judgment in any court it
is necessary to convert a sum due from any Borrower hereunder in the currency expressed to be
payable herein (the “specified currency”) into another currency, the parties hereto agree, to the
fullest extent that they may effectively do so, that the rate of exchange used shall be that at
which in accordance with usual and customary banking procedures the US Administrative Agent could
purchase the specified currency with such other currency at any of the US Administrative Agent’s
offices in the United States of America on the Business Day preceding that on which final judgment
is given. The obligations of the Borrowers in respect of any sum due to any Lender Party hereunder
shall, notwithstanding any judgment in a currency other than the specified currency, be discharged
only to the extent that on the Business Day following receipt by such Lender, such Issuing Lender
or such Administrative Agent (as the case may be) of any sum adjudged to be so due in such other
currency such Lender, such Issuing Lender or such Administrative Agent (as the case may be) may in
accordance with normal, reasonable banking procedures purchase the specified currency with such
other currency. If the amount of the specified currency so purchased is less than the sum
originally due to such Lender, such Issuing Lender or such Administrative Agent, as the case may
be, in the specified currency, the applicable Borrower agrees, to the fullest extent that it may
effectively do so, as a separate obligation and notwithstanding any such judgment, to indemnify
such Lender, such Issuing Lender or such Administrative Agent, as the case may be, against such
loss, and if the amount of the specified currency so purchased exceeds (a) the sum originally due
to any Lender, such Issuing Lender or such Administrative Agent, as the case may be, in the
specified currency and (b) any amounts shared with other Lender Parties as a result of allocations
of such excess as a disproportionate payment to such Lender Party under Section 2.14, each Lender
Party agrees to promptly remit such excess to the Applicable Borrower.

Section 9.13 Payments Set Aside. To the extent that any payment by or on behalf of any
Borrower is made to any Lender Party, or any Lender Party exercises its right of setoff, and such
payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to
be fraudulent or preferential, set aside or required (including pursuant to any settlement entered
into by any Lender Party in its discretion) to be repaid to a trustee, receiver or any other party,
in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent
of such recovery, the obligation or part thereof originally intended to be satisfied shall be
revived and continued in full force and effect as if such payment had not been made or such setoff
had not occurred, and (b) each Lender and each Issuing Lender severally agrees to pay to the
Applicable Administrative Agent upon demand its applicable share (without duplication) of any
amount so recovered from or repaid by the Applicable Administrative Agent, plus interest thereon
from the date of such demand to the date such payment is made at a rate per annum equal to the
applicable Overnight Rate from time to time in effect, in the applicable currency of such recovery
or payment. The obligations of the Lenders and the Issuing Lenders under clause (b) of the
preceding sentence shall survive the payment in full of the Obligations and the termination of this
Agreement.

Section 9.14 Governing Law; Submission to Jurisdiction.

     (a) Governing Law. This Agreement, the Notes and the other Credit Documents (other
than such Credit Documents which expressly provide otherwise) shall be governed by, and construed
and enforced in accordance with, the laws of the State of New York (including Section 5-1401 and
Section 5-1402 of the General Obligations Law of the State of New York). Each Letter of Credit
shall be governed by either (i) the Uniform Customs and Practice for Documentary Credits (2007
Revision), International Chamber of Commerce Publication No. 600, or (ii) the ISP, in either case,
including any subsequent revisions thereof approved by a Congress of the International Chamber of
Commerce and adhered to by the Applicable Issuing Lender.

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     (b) Submission to Jurisdiction. EACH PARTY TO THIS AGREEMENT IRREVOCABLY AND
UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THE COURTS
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 THIS AGREEMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY
JUDGMENT, AND EACH OF THE PARTIES HERETO 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 LEGAL REQUIREMENT, 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 APPLICABLE LEGAL REQUIREMENT.

     (c) Waiver of Venue. EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LEGAL REQUIREMENT, ANY OBJECTION THAT IT MAY NOW OR
HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO
THIS AGREEMENT IN ANY COURT REFERRED TO IN CLAUSE (B) ABOVE. EACH OF THE PARTIES HERETO HEREBY
AGREES THAT SECTIONS 5-1401 AND 4-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE
OF NEW YORK SHALL APPLY TO THIS AGREEMENT AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LEGAL REQUIREMENT, 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 the manner provided for notices in Section 9.7. Nothing in this Agreement will affect the right
of any party hereto to serve process in any other manner permitted by applicable Legal Requirement.

Section 9.15 Execution and Effectiveness.

     (a) Execution in Counterparts. This Agreement may be executed in counterparts (and by
different parties hereto in different counterparts), each of which shall constitute an original,
but all of which when taken together shall constitute a single contract. This Agreement and the
other Credit Documents, and any separate letter agreements with respect to fees payable to the
Administrative Agents, 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. This Agreement shall become effective when it shall have
been executed by the Administrative Agents and when the US 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 facsimile or
by email “PDF” copy shall be effective as delivery of a manually executed counterpart of this
Agreement.

     (b) 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 Legal Requirement, including the Federal

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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.

Section 9.16 Waiver of Jury. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LEGAL REQUIREMENT, 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 OR ANY OTHER
CREDIT DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT
OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF
ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON 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 AND THE OTHER CREDIT DOCUMENTS
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

Section 9.17 USA PATRIOT ACT Notice. Each US Lender that is subject to the Patriot Act and
the US Administrative Agent (for itself and not on behalf of any US Lender) hereby notifies each
Credit Party that pursuant to the requirements of the Patriot Act it is required to obtain, verify
and record information that identifies such Credit Party, which information includes the name and
address of such Credit Party and other information that will allow such US Lender or the US
Administrative Agent, as applicable, to identify such Credit Party in accordance with the Patriot
Act.

Section 9.18 Termination for Departing Lenders. Notice of termination given on the
Effective Date to any Lender (as defined in the Restated Agreement) which is not also a Lender
under this Agreement (“Departing Lender”) shall constitute effective termination of the
Restated Agreement with respect to such Departing Lender and upon payment in full of all
outstanding Advances, interest and fees under the Restated Agreement owing to such Departing Lender
by the Applicable Borrower, the Applicable Borrower shall be released of any obligations to such
Departing Lender under the Restated Agreement other than reimbursement and indemnity obligations
which by the terms of the Restated Agreement survive.

Section 9.19 Integration. THIS AGREEMENT AND THE CREDIT DOCUMENTS, AS DEFINED IN THIS
AGREEMENT, REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES WITH RESPECT TO THE SUBJECT MATTERS SET
FORTH HEREIN AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES.

[Remainder of this page intentionally left blank. Signature pages follow.]

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     EXECUTED as of the date first above written.

	 	 	 	 	 
	COMPANY:                       	COMPLETE PRODUCTION SERVICES, INC.

 	 
	 	By:  	/s/ Jose Bayardo	 
	 	 	Jose Bayardo	 
	 	 	Vice President and Chief Financial Officer	 

Signature page to Third Amended and Restated Credit Agreement

(Complete Production Services, Inc.)

 

 

	 	 	 	 	 
	LENDER PARTIES:              	WELLS FARGO BANK,

NATIONAL ASSOCIATION

as US Administrative Agent, US Swingline Lender,

US Issuing Lender, a US Lender

 	 
	 	By:  	/s/ Robert Corder	 
	 	 	Robert Corder	 
	 	 	Director 	 

Signature page to Third Amended and Restated Credit Agreement

(Complete Production Services, Inc.)

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.

as US Lender

 	 
	 	By:  	/s/ Gary L. Mingle	 
	 	 	Name: Gary L. Mingle	 
	 	 	Title: Senior Vice President	 

Signature page to Third Amended and Restated Credit Agreement

(Complete Production Services, Inc.)

 

 

	 	 	 	 	 
	 	COMERICA BANK

as US Lender

 	 
	 	By:  	/s/
David Balderach	 
	 	 	Name: David Balderach	 
	 	 	Title: Senior Vice President	 

Signature page to Third Amended and Restated Credit Agreement

(Complete Production Services, Inc.)

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.

as US Lender

 	 
	 	By:  	/s/
Preeti Bhatnagar	 
	 	 	Name: Preeti Bhatnagar	 
	 	 	Title: Authorized Officer	 

Signature page to Third Amended and Restated Credit Agreement

(Complete Production Services, Inc.)

 

 

	 	 	 	 	 
	 	AMEGY BANK NATIONAL ASSOCIATION

as US Lender

 	 
	 	By:  	/s/
Kenyatta B. Gibbs	 
	 	 	Name: Kenyatta B. Gibbs	 
	 	 	Title: Vice President	 

Signature page to Third Amended and Restated Credit Agreement

(Complete Production Services, Inc.)

 

 

	 	 	 	 	 
	 	CAPITAL ONE NATIONAL ASSOCIATION

as US Lender

 	 
	 	By:  	/s/ Bobby Hamilton	 
	 	 	Name: Bobby Hamilton	 
	 	 	Title: Vice President	 

Signature page to Third Amended and Restated Credit Agreement

(Complete Production Services, Inc.)

 

 

	 	 	 	 	 
	 	CITIBANK, N.A.

as US Lender

 	 
	 	By:  	/s/ Daniel A. Davis	 
	 	 	Name: Daniel A. Davis	 
	 	 	Title: SVP	 

Signature page to Third Amended and Restated Credit Agreement

(Complete Production Services, Inc.)

 

 

	 	 	 	 	 
	 	DEUTSCHE BANK TRUST COMPANY AMERICAS

as US Lender

 	 
	 	By:  	/s/ Marguerite Sutton	 
	 	 	Name: Marguerite Sutton	 
	 	 	Title: Director	 
	 	 	 
	 	By:  	/s/ Carin Keegan	 
	 	 	Name: Carin Keegan	 
	 	 	Title: Director	 

Signature page to Third Amended and Restated Credit Agreement

(Complete Production Services, Inc.)

 

 

	 	 	 	 	 
	 	HSBC BANK USA, N.A.

as US Lender

 	 
	 	By:  	/s/ Koby West	 
	 	 	Name: Koby West	 
	 	 	Title: Assistant Vice President	 

	 	 	 	 	 
	 	By:  	/s/ Bruce Robinson	 
	 	 	Name: Bruce Robinson	 
	 	 	Title: Vice President	 

Signature page to Third Amended and Restated Credit Agreement

(Complete Production Services, Inc.)

 

 

	 	 	 	 	 
	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH

as US Lender

 	 
	 	By:  	/s/ Christopher Reo Day	 
	 	 	Name: Christopher Reo Day	 
	 	 	Title: Vice President	 
	 	 	 
	 	By:  	/s/ Vipul Dhadda	 
	 	 	Name: Vipul Dhadda	 
	 	 	Title: Associate	 

Signature page to Third Amended and Restated Credit Agreement

(Complete Production Services, Inc.)

 

 

SCHEDULE I

Pricing Schedule

The Applicable Margin with respect to Commitment Fees and Advances under the Facilities shall be
determined in accordance with the following Table based on the Company’s Total Debt Leverage Ratio
as reflected in the Compliance Certificate delivered in connection with the Financial Statements
most recently delivered pursuant to Section 5.2. Adjustments, if any, to such Applicable Margin
shall be effective on the date the US Administrative Agent receives the applicable Financial
Statements and corresponding Compliance Certificate as required by the terms of this Agreement. If
the Company fails to deliver the Financial Statements and corresponding Compliance Certificate to
the US Administrative Agent at the time required pursuant to Section 5.2, then effective as of the
date such Financial Statements and Compliance Certificate were required to the delivered pursuant
to Section 5.2, the Applicable Margin with respect to Commitment Fees and Advances under the
Facilities shall be determined at Level IV and shall remain at such level until the date such
Financial Statements and corresponding Compliance Certificate are so delivered by the Company.
Notwithstanding the foregoing, the Company shall be deemed to be at Level II described in Table
below until delivery of its unaudited Financial Statements and corresponding Compliance Certificate
for the fiscal quarter ending June 30, 2011. Notwithstanding anything to the contrary contained
herein, the determination of the Applicable Margin for any period shall be subject to the
provisions of Section 2.10(f). For the avoidance of doubt, the levels on the pricing grid
set forth below are set forth from lowest (Level I) to the highest (Level IV).

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Eurocurrency	 	 	 	 	 	 	 
	 	 	 	 	Advances/BA	 	 	Base Rate	 	 	 	 
	Applicable Margin	 	Total Debt Leverage Ratio	 	Advances	 	 	Advances	 	 	Commitment Fee	 
	Level I	 	Is less than 1.50
	 	 	2.25	%	 	 	1.25	%	 	 	0.375	%
	Level II	 	Is equal to or greater than 1.50 but less than 2.50
	 	 	2.50	%	 	 	1.50	%	 	 	0.500	%
	Level III	 	Is equal to or greater than 2.50 but less than 3.50
	 	 	2.75	%	 	 	1.75	%	 	 	0.500	%
	Level IV	 	Is equal to or greater than 3.50
	 	 	3.00	%	 	 	2.00	%	 	 	0.500	%

Schedule I

Page 1 of 1

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