Document:

INDENTURE

 

Exhibit 4.2

EXECUTION COPY

TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC.,

as Issuer,

The GUARANTORS party hereto from time to time

and

U.S. Bank National Association, as Trustee

INDENTURE

Dated as of May 21, 2004

12.5% Senior Subordinated Notes due 2010, Series A

12.5% Senior Subordinated Notes due 2010, Series B

 

 

CROSS-REFERENCE TABLE

	 	 	 
	TIA 	 	Indenture
	Section 
	 	Section

	310(a)(1)
	 	7.10
	(a)(2)
	 	7.10
	(a)(3)
	 	N.A.
	(a)(4)
	 	N.A
	(b)
	 	7.08; 7.10; 13.02
	(b)(1)
	 	7.10
	(b)(9)
	 	7.10
	(c)
	 	N.A.
	311(a)
	 	7.11
	(b)
	 	7.11
	(c)
	 	N.A.
	312(a)
	 	2.05
	(b)
	 	13.03
	(c)
	 	13.03
	313(a)
	 	7.06
	(b)(1)
	 	7.06
	(b)(2)
	 	7.06
	(c)
	 	7.06; 13.02
	(d)
	 	7.06
	314(a)
	 	4.02; 4.08; 13.02
	(b)
	 	N.A.
	(c)(1)
	 	13.04; 13.05
	(c)(2)
	 	13.04; 13.05
	(c)(3)
	 	N.A.
	(d)
	 	N.A.
	(e)
	 	13.05
	(f)
	 	N.A.
	315(a)
	 	7.01; 7.02
	(b)
	 	7.05; 13.02
	(c)
	 	7.01
	(d)
	 	6.05; 7.01; 7.02
	(e)
	 	6.11
	316(a) (last sentence)
	 	2.09
	(a)(1)(A)
	 	6.05
	(a)(1)(B)
	 	6.04
	(a)(2)
	 	8.02
	(b)
	 	6.07
	(c)
	 	8.04
	317(a)(1)
	 	6.08
	(a)(2)
	 	6.09
	(b)
	 	2.04
	318(a)
	 	13.01

	N.A. means Not Applicable.
	 
	Note:	 	This Cross-Reference Table shall not, for any purpose, be
deemed to be a part of this Indenture.

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page

	 
	 	ARTICLE 1 	 	 	 	 
	 
	 	DEFINITIONS AND INCORPORATION BY REFERENCE 	 	 	 	 
	Section 1.01.
	 	Definitions	 	 	1	 
	Section 1.02.
	 	Other Definitions	 	 	28	 
	Section 1.03.
	 	Incorporation by Reference of Trust Indenture Act	 	 	29	 
	Section 1.04.
	 	Rules of Construction	 	 	29	 
	 
	 	ARTICLE 2 	 	 	 	 
	 
	 	THE NOTES 	 	 	 	 
	Section 2.01.
	 	Form and Dating	 	 	30	 
	Section 2.02.
	 	Execution and Authentication	 	 	30	 
	Section 2.03.
	 	Registrar and Paying Agent	 	 	31	 
	Section 2.04.
	 	Paying Agent to Hold Assets in Trust	 	 	31	 
	Section 2.05.
	 	Noteholder Lists	 	 	32	 
	Section 2.06.
	 	Transfer and Exchange	 	 	32	 
	Section 2.07.
	 	Replacement Notes	 	 	32	 
	Section 2.08.
	 	Outstanding Notes	 	 	33	 
	Section 2.09.
	 	Treasury Notes	 	 	33	 
	Section 2.10.
	 	Temporary Notes	 	 	33	 
	Section 2.11.
	 	Cancellation	 	 	33	 
	Section 2.12.
	 	Defaulted Interest	 	 	34	 
	Section 2.13.
	 	Deposit of Moneys	 	 	34	 
	Section 2.14.
	 	CUSIP Number	 	 	34	 
	Section 2.15.
	 	Book-Entry Provisions for Global Notes	 	 	35	 
	Section 2.16.
	 	Registration of Transfers and Exchanges	 	 	35	 
	Section 2.17.
	 	Restrictive Legends	 	 	39	 
	Section 2.18.
	 	U.S. Tax Legend	 	 	41	 
	 
	 	ARTICLE 3 	 	 	 	 
	 
	 	REDEMPTION 	 	 	 	 
	Section 3.01.
	 	Notices to Trustee	 	 	41	 
	Section 3.02.
	 	Selection of Notes to Be Redeemed	 	 	41	 
	Section 3.03.
	 	Notice of Redemption	 	 	42	 
	Section 3.04.
	 	Effect of Notice of Redemption	 	 	42	 
	Section 3.05.
	 	Deposit of Redemption Price	 	 	43	 
	Section 3.06.
	 	Notes Redeemed in Part	 	 	43	 

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	 	ARTICLE 4 	 	 	 	 
	 
	 	COVENANTS 	 	 	 	 
	Section 4.01.
	 	Payment of Notes	 	 	43	 
	Section 4.02.
	 	Provision of Financial Statements and Other Information	 	 	43	 
	Section 4.03.
	 	Waiver of Stay, Extension or Usury Laws	 	 	44	 
	Section 4.04.
	 	Compliance Certificate; Notice of Default; Tax Information	 	 	44	 
	Section 4.05.
	 	Payment of Taxes and Other Claims	 	 	45	 
	Section 4.06.
	 	Corporate Existence	 	 	45	 
	Section 4.07.
	 	Maintenance of Office or Agency	 	 	46	 
	Section 4.08.
	 	Compliance with Laws	 	 	46	 
	Section 4.09.
	 	Maintenance of Properties and Insurance	 	 	46	 
	Section 4.10.
	 	Limitation on Additional Indebtedness	 	 	47	 
	Section 4.11.
	 	Limitation on Restricted Payments	 	 	47	 
	Section 4.12.
	 	Limitation on Other Senior Subordinated Indebtedness	 	 	50	 
	Section 4.13.
	 	Limitation on Asset Sales	 	 	50	 
	Section 4.14.
	 	Limitation on Transactions with Affiliates	 	 	53	 
	Section 4.15.
	 	Limitation on Liens	 	 	54	 
	Section 4.16.
	 	Change of Control	 	 	54	 
	Section 4.17.
	 	Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	 	 	56	 
	Section 4.18.
	 	Limitation on Conduct of Business	 	 	57	 
	Section 4.19.
	 	Limitation on Preferred Stock of Restricted Subsidiaries	 	 	58	 
	Section 4.20.
	 	Limitation on Creation of Subsidiaries	 	 	58	 
	Section 4.21.
	 	Limitation on Capital Stock of Restricted Subsidiaries	 	 	58	 
	Section 4.22.
	 	Limitation on Sale and Lease-Back Transactions	 	 	58	 
	Section 4.23.
	 	Payments for Consent	 	 	59	 
	 
	 	ARTICLE 5 	 	 	 	 
	 
	 	SUCCESSOR CORPORATION 	 	 	 	 
	Section 5.01.
	 	Limitation on Consolidation, Merger and Sale of Assets	 	 	59	 
	Section 5.02.
	 	Successor Person Substituted	 	 	60	 
	 
	 	ARTICLE 6 	 	 	 	 
	 
	 	DEFAULTS AND REMEDIES 	 	 	 	 
	Section 6.01.
	 	Events of Default	 	 	60	 
	Section 6.02.
	 	Acceleration	 	 	62	 
	Section 6.03.
	 	Other Remedies	 	 	63	 
	Section 6.04.
	 	Waiver of Past Defaults and Events of Default	 	 	63	 
	Section 6.05.
	 	Control by Majority	 	 	63	 
	Section 6.06.
	 	Limitation on Suits	 	 	64	 
	Section 6.07.
	 	Rights of Holders to Receive Payment	 	 	64	 

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	Section 6.08.
	 	Collection Suit by Trustee	 	 	64	 
	Section 6.09.
	 	Trustee May File Proofs of Claim	 	 	65	 
	Section 6.10.
	 	Priorities	 	 	65	 
	Section 6.11.
	 	Undertaking for Costs	 	 	65	 
	 
	 	ARTICLE 7 	 	 	 	 
	 
	 	TRUSTEE 	 	 	 	 
	Section 7.01.
	 	Duties of Trustee	 	 	66	 
	Section 7.02.
	 	Rights of Trustee	 	 	67	 
	Section 7.03.
	 	Individual Rights of Trustee	 	 	67	 
	Section 7.04.
	 	Trustee's Disclaimer	 	 	67	 
	Section 7.05.
	 	Notice of Defaults	 	 	68	 
	Section 7.06.
	 	Reports by Trustee to Holders	 	 	68	 
	Section 7.07.
	 	Compensation and Indemnity	 	 	68	 
	Section 7.08.
	 	Replacement of Trustee	 	 	69	 
	Section 7.09.
	 	Successor Trustee by Consolidation, Merger or Conversion	 	 	70	 
	Section 7.10.
	 	Eligibility; Disqualification	 	 	70	 
	Section 7.11.
	 	Preferential Collection of Claims Against Company	 	 	70	 
	 
	 	ARTICLE 8 	 	 	 	 
	 
	 	AMENDMENTS, SUPPLEMENTS AND WAIVERS 	 	 	 	 
	Section 8.01.
	 	Without Consent of Holders	 	 	70	 
	Section 8.02.
	 	With Consent of Holders	 	 	71	 
	Section 8.03.
	 	Compliance with TIA	 	 	72	 
	Section 8.04.
	 	Revocation and Effect of Consents	 	 	72	 
	Section 8.05.
	 	Notation on or Exchange of Notes	 	 	73	 
	Section 8.06.
	 	Trustee to Sign Amendments, etc	 	 	73	 
	 
	 	ARTICLE 9 	 	 	 	 
	 
	 	DISCHARGE OF INDENTURE; DEFEASANCE 	 	 	 	 
	Section 9.01.
	 	Satisfaction and Discharge of Indenture	 	 	73	 
	Section 9.02.
	 	Legal Defeasance	 	 	74	 
	Section 9.03.
	 	Covenant Defeasance	 	 	75	 
	Section 9.04.
	 	Conditions to Legal Defeasance or Covenant Defeasance	 	 	76	 
	Section 9.05.
	 	Application of Trust Money	 	 	77	 
	Section 9.06.
	 	Repayment to the Company	 	 	78	 
	Section 9.07.
	 	Reinstatement	 	 	78	 

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	 	ARTICLE 10 	 	 	 	 
	 
	 	GUARANTEE 	 	 	 	 
	Section 10.01.
	 	Unconditional Guarantee	 	 	78	 
	Section 10.02.
	 	Severability	 	 	79	 
	Section 10.03.
	 	Limitation on Guarantor's Liability; Contribution	 	 	79	 
	Section 10.04.
	 	Successors and Assigns	 	 	79	 
	Section 10.05.
	 	No Waiver	 	 	80	 
	Section 10.06.
	 	Release of Guarantor	 	 	80	 
	Section 10.07.
	 	Execution of Supplemental Indenture for Future Guarantors	 	 	80	 
	Section 10.08.
	 	Execution and Delivery of Guarantee	 	 	80	 
	Section 10.09.
	 	Subordination of Subrogation and Other Rights	 	 	81	 
	 
	 	ARTICLE 11 	 	 	 	 
	 
	 	SUBORDINATION OF GUARANTEE 	 	 	 	 
	Section 11.01.
	 	Guarantee Obligations Subordinated to Guarantor Senior Indebtedness	 	 	81	 
	Section 11.02.
	 	Payment Over of Proceeds upon Dissolution, etc	 	 	81	 
	Section 11.03.
	 	Suspension of Guaranteed
Obligations When Guarantor Senior Indebtedness in Default	 	 	82	 
	Section 11.04.
	 	Trustee’s Relation to Guarantor Senior Indebtedness	 	 	84	 
	Section 11.05.
	 	Subrogation	 	 	84	 
	Section 11.06.
	 	Guarantee Subordination Provisions Solely to Define Relative Rights	 	 	85	 
	Section 11.07.
	 	Trustee to Effectuate Subordination	 	 	85	 
	Section 11.08.
	 	No Waiver of Subordination Provisions	 	 	85	 
	Section 11.09.
	 	Notice to Trustee	 	 	86	 
	Section 11.10.
	 	Reliance on Judicial Order or Certificate of Liquidating Agent	 	 	86	 
	Section 11.11.
	 	No Suspension of Remedies	 	 	87	 
	 
	 	ARTICLE 12 	 	 	 	 
	 
	 	SUBORDINATION OF NOTES 	 	 	 	 
	Section 12.01.
	 	Notes Subordinate to Senior Indebtedness	 	 	87	 
	Section 12.02.
	 	Payment Over of Proceeds upon Dissolution, etc	 	 	87	 
	Section 12.03.
	 	Suspension of Payment When Senior Indebtedness in Default	 	 	88	 
	Section 12.04.
	 	Trustee’s Relation to Senior Indebtedness	 	 	89	 
	Section 12.05.
	 	Subrogation	 	 	90	 
	Section 12.06.
	 	Provisions Solely to Define Relative Rights	 	 	90	 
	Section 12.07.
	 	Trustee to Effectuate Subordination	 	 	91	 
	Section 12.08.
	 	No Waiver of Subordination Provisions	 	 	91	 
	Section 12.09.
	 	Notice to Trustee	 	 	91	 
	Section 12.10.
	 	Reliance on Judicial Order or Certificate of Liquidating Agent	 	 	92	 
	Section 12.11.
	 	No Suspension of Remedies	 	 	92	 

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	 	ARTICLE 13 	 	 	 	 
	 
	 	MISCELLANEOUS 	 	 	 	 
	Section 13.01.
	 	TIA Controls	 	 	92	 
	Section 13.02.
	 	Notices	 	 	92	 
	Section 13.03.
	 	Communications by Holders with Other Holders	 	 	94	 
	Section 13.04.
	 	Certificate and Opinion as to Conditions Precedent	 	 	94	 
	Section 13.05.
	 	Statements Required in Certificate and Opinion.	 	 	94	 
	Section 13.06.
	 	Rules by Trustee and Agents	 	 	94	 
	Section 13.07.
	 	Business Days; Legal Holidays	 	 	94	 
	Section 13.08.
	 	Governing Law	 	 	95	 
	Section 13.09.
	 	No Adverse Interpretation of Other Agreements	 	 	95	 
	Section 13.10.
	 	No Recourse Against Others	 	 	95	 
	Section 13.11.
	 	Successors	 	 	95	 
	Section 13.12.
	 	Multiple Counterparts	 	 	95	 
	Section 13.13.
	 	Table of Contents, Headings, etc	 	 	95	 
	Section 13.14.
	 	Separability	 	 	95	 
	EXHIBITS
	 	 	 	 	 	 
	Exhibit A
	 	Form of Series A Note	 	 	A-1	 
	Exhibit B
	 	Form of Series B Note	 	 	B-1	 
	Exhibit C
	 	Form of Certificate to Be Delivered in Connection with Transfers to Non-QIB Accredited Investors	 	 	C-1	 
	Exhibit D
	 	Form of Transferee Letter of
Representation	 	 	D-1	 
	Exhibit E
	 	Form of Certificate to Be Delivered in Connection with Regulation S Transfers	 	 	E-1	 
	Exhibit F
	 	Form of Supplemental Indenture	 	 	F-1	 
	Exhibit G
	 	Form of Registration Rights Agreement	 	 	G-1	 

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          INDENTURE, dated as of May 21, 2004, among Transportation Technologies
Industries, Inc., a Delaware corporation (the “Company”), each of the
GUARANTORS (as defined herein) and U.S. Bank National Association, a national
banking association, as Trustee (the “Trustee”).

          The Company has duly authorized the creation of an issue of 12.5% Senior
Subordinated Notes due 2010, Series A (the “Initial Notes”) and 12.5% Senior
Subordinated Notes due 2010, Series B (the “Exchange Notes”) and, to provide
therefor, the Company and each Guarantor have duly authorized the execution and
delivery of this Indenture. All things necessary to make the Notes, when duly
issued and executed by the Company, and authenticated and delivered hereunder,
the valid obligations of the Company, and to make this Indenture a valid and
binding agreement of the Company and the Guarantors, have been done.

          Each party agrees as follows for the benefit of the other parties and for
the equal and ratable benefit of the Holders:

ARTICLE 1

DEFINITIONS AND INCORPORATION BY REFERENCE

     Section 1.01. Definitions.

          “Acquired Indebtedness” means Indebtedness of a Person (including an
Unrestricted Subsidiary) existing at the time such Person becomes a Restricted
Subsidiary or is merged into or consolidated with any other Person or which is
assumed in connection with the acquisition of assets from such Person and, in
each case, whether or not incurred by such Person in connection with, or in
anticipation or contemplation of, such Person becoming a Restricted Subsidiary
or such merger, consolidation or acquisition.

          “Additional Interest” has the meaning provided for such term in the
Registration Rights Agreement.

          “Adjusted Net Assets” of any Person at any date shall mean the lesser of
the amount by which

     (1) the fair value of the Property of such Person exceeds the total
amount of liabilities, including, without limitation, contingent
liabilities (after giving effect to all other fixed and contingent
liabilities), but excluding liabilities under the Guarantee of such
Person at such date; and

     (2) the present fair salable value of the assets of such Person at
such date exceeds the amount that will be required to pay the probable
liability of such Person on its debts (after giving effect to all other
fixed and contingent liabilities and after giving effect to any
collection from any Subsidiary of such Person in respect of the
obligations of such Person under the Guarantee of such Person), excluding
Indebtedness in respect of the Guarantee of such Person, as they become
absolute and matured.

          “Affiliate” means, with respect to any specific Person, any other Person
that directly or indirectly through one or more intermediaries controls, or is
controlled by, or is under common control with, such specified Person. For the
purposes of this definition, “control” (including, with correlative

 

 

meanings, the terms “controlling,” “controlled by” and “under common
control with”), as used with respect to any Person, means the possession,
directly or indirectly, of the power to direct or cause the direction of the
management or policies of such Person, whether through the ownership of voting
securities, by agreement or otherwise; provided that, for purposes of Section
4.14, beneficial ownership of at least 10% of the voting securities of a
Person, either directly or indirectly, shall be deemed to be control.

          “Agent” means any Registrar, Paying Agent, co-Registrar, Authenticating
Agent or agent for service of notices and demands.

          “Asset Acquisition” means

     (1) an Investment by the Company or any Restricted Subsidiary of the
Company in any other Person (other than Investments in the Company or any
existing Restricted Subsidiary of the Company) pursuant to which such
Person becomes a Restricted Subsidiary of the Company or any Restricted
Subsidiary of the Company, or is merged with or into the Company or any
Restricted Subsidiary of the Company or

     (2) the acquisition by the Company or any Restricted Subsidiary of
the Company of the assets of any Person (other than a Restricted
Subsidiary of the Company) which constitute all or substantially all of
the assets of such Person or comprise any division or line of business of
such Person or any other Properties or assets of such Person other than
in the ordinary course of business.

          “Asset Sale” means any direct or indirect sale, issuance, conveyance,
assignment, transfer, lease or other disposition (including any Sale and
Lease-Back Transaction), other than to the Company or any of its Wholly Owned
Subsidiaries, in any single transaction or series of related transactions of

     (1) any Capital Stock of or other equity interest in any Restricted
Subsidiary of the Company; or

     (2) any other Property or assets of the Company or of any Restricted
Subsidiary thereof;

provided that Asset Sales do not include

     (1) receipt of proceeds from transactions that involve assets, in
each fiscal year of the Company, having a fair market value or for which
the Company or its Restricted Subsidiaries receive aggregate
consideration of no more than $1,000,000;

     (2) sales of inventory and the Company’s products in the ordinary
course of business and consistent with past practices;

     (3) the sale, lease, conveyance, disposition or other transfer of
all or substantially all of the assets of the Company as permitted under
Section 5.01 of this Indenture;

     (4) sales of Cash Equivalents;

     (5) granting of Liens not otherwise prohibited by this Indenture;

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     (6) leases or subleases to third persons in the ordinary course of
business that do not interfere in any material respect with the business
of the Company or any of its Restricted Subsidiaries;

     (7) sales or other disposition of assets that are obsolete,
uneconomic, negligible, worn out or surplus in the ordinary course of
business;

     (8) sales of assets in connection with Sale and Lease-Back
Transactions that occur substantially contemporaneously with the
acquisition of such assets by the Company and its Restricted
Subsidiaries; provided that such Sale and Lease-Back Transactions occur
no later than 180 days after the acquisition of such assets; and

     (9) issuances of directors’ qualifying shares.

          “Asset Sale Proceeds” means, with respect to any Asset Sale,

          (1) cash received by the Company or any Restricted Subsidiary of the
Company from such Asset Sale (including cash received as consideration for the
assumption of liabilities incurred in connection with or in anticipation of
such Asset Sale), after

     (a) provision for all income or other taxes measured by or
resulting from such Asset Sale;

     (b) payment of all brokerage commissions, underwriting and
other fees and expenses related to, and other costs and charges
incurred in connection with, such Asset Sale;

     (c) provision for minority interest holders in any Restricted
Subsidiary of the Company as a result of such Asset Sale;

     (d) repayment of Indebtedness that is secured by the assets
subject to such Asset Sale or otherwise required to be repaid in
connection with such Asset Sale;

     (e) deduction of appropriate amounts to be provided by the
Company or a Restricted Subsidiary of the Company as a reserve, in
accordance with GAAP, against any liabilities associated with the
assets sold or disposed of in such Asset Sale and retained by the
Company or a Restricted Subsidiary after such Asset Sale,
including, without limitation, pension and other post-employment
benefit liabilities and liabilities related to environmental
matters or against any indemnification obligations associated with
the assets sold or disposed of in such Asset Sale; and

     (f) any amounts required to be placed by the Company or any
Restricted Subsidiary of the Company in a restricted escrow or
reserve account by the terms of the agreements pursuant to which
the Asset Sale is made, provided that any such amounts shall be
deemed to be Asset Sale Proceeds of an Asset Sale upon the release
of such amounts to the Company or any Subsidiary; and

          (2) promissory notes and other non-cash consideration received by the
Company or any Restricted Subsidiary of the Company from such Asset Sale or
other disposition upon the liquidation or conversion of such promissory notes
or non-cash consideration into cash.

-3-

 

          “Attributable Indebtedness” in respect of a Sale and Lease-Back
Transaction means, as at the time of determination the present value
(discounted at the rate of interest implicit in such transaction, determined in
accordance with GAAP) of the total obligations of the lessee for rental
payments during the remaining term of the lease included in such Sale and
Lease-Back Transaction (including any period for which such lease has been
extended).

          “Available Asset Sale Proceeds” means, with respect to any Asset Sale, the
aggregate Asset Sale Proceeds from such Asset Sale that have not been applied
in accordance with clause (3)(a) or (3)(b), and which have not yet been the
basis for an Excess Proceeds Offer in accordance with clause (3)(c) of Section
4.13(a).

          “Board of Directors” means, as to any Person, the board of directors of
such Person or any duly authorized committee thereof (which, with respect to
any Person that is not a corporation, shall include any board, committee,
person or other group having similar authority and responsibilities).

          “Board Resolution” means with respect to any Person, a copy of a
resolution certified by the Secretary or an Assistant Secretary of such Person
to have been duly adopted by the Board of Directors of such Person and to be in
full force and effect on the date of such certification and delivered to the
Trustee.

          “Borrowing Base” means, as of any date, an amount equal to the sum of (i)
60% of the aggregate book value of inventory (adjusted to include any LIFO
reserves) and (ii) 85% of the aggregate book value of all accounts receivable
(net of bad debt reserves) of the Company and its Restricted Subsidiaries on a
consolidated basis, as determined in accordance with GAAP consistently applied.
To the extent that information is not available as to the amount of inventory
or accounts receivable as of a specific date, the Company shall use the most
recent available information for purposes of calculating the Borrowing Base.

          “Capital Stock” means, with respect to any Person, any and all shares,
interests, participations or other equivalents (however designated and whether
or not voting) of corporate stock, partnership or limited liability company
interests or any other participation, right or other interest in the nature of
an equity interest in such Person including, without limitation, Common Stock
and Preferred Stock of such Person, or any option, warrant or other security
convertible into any of the foregoing.

          “Capitalized Lease Obligations” means with respect to any Person,
Indebtedness represented by obligations under a lease that is required to be
capitalized for financial reporting purposes in accordance with GAAP, and the
amount of such Indebtedness shall be the capitalized amount of such obligations
determined in accordance with GAAP.

          “Cash Equivalents” means

     (1) marketable direct obligations issued by, or unconditionally
guaranteed by, the United States Government or issued by any agency or
instrumentality thereof and backed by the full faith and credit of the
United States, in each case maturing within one year from the date of
acquisition thereof;

     (2) marketable direct obligations issued by any state of the United
States of America or any political subdivision of any such state or any
public instrumentality thereof maturing within one year from the date of
acquisition thereof and, at the time of acquisition, having one of

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the two highest ratings obtainable from either Standard & Poor’s, a
division of The McGraw Hill Companies, Inc. (“S&P”) or Moody’s Investors
Service, Inc. (“Moody’s”);

     (3) commercial paper maturing no more than one year from the date of
creation thereof and, at the time of acquisition, having a rating of at
least A-1 from S&P or at least P-1 from Moody’s;

     (4) certificates of deposit or bankers’ acceptances maturing within
one year from the date of acquisition thereof issued by any bank
organized under the laws of the United States of America or any state
thereof or the District of Columbia or any U.S. branch of a foreign bank
having at the date of acquisition thereof combined capital and surplus of
not less than $250,000,000;

     (5) repurchase obligations with a term of not more than 30 days for
underlying securities of the types described in clause (1) above entered
into with any bank meeting the qualifications specified in clause (4)
above; and

     (6) investments in money market funds which invest substantially all
their assets in securities of the types described in clauses (1) through
(5) above.

     “Certificated Notes” means one or more certificated Notes in registered
form.

     A “Change of Control” of the Company shall be deemed to have occurred at
such time as

     (1) any Person or group of related Persons for purposes of Section
13(d) of the Exchange Act (a “Group”), other than a Permitted Holder,
becomes the beneficial owner (as defined under Rule 13d-3 or any
successor rule or regulation promulgated under the Exchange Act, except
that a Person shall be deemed to have “beneficial ownership” of all
securities that such Person has the right to acquire, whether such right
is exercisable immediately or only after the passage of time) of 50% or
more of the total voting power of the Company’s Capital Stock;

     (2) there is consummated any sale, lease, exchange or other transfer
(in one transaction or a series of related transactions) of all or
substantially all of the assets of the Company and its Restricted
Subsidiaries, taken as a whole, to any Person or Group, together with any
Affiliates thereof (whether or not otherwise in compliance with the
provisions of this Indenture), other than to the Company, any of its
Restricted Subsidiaries or the Permitted Holders; or

     (3) during any period of two consecutive years, individuals who at
the beginning of such period constituted the Board of Directors of the
Company (together with any new directors whose election by such Board of
Directors or whose nomination for election by the stockholders of the
Company has been approved by a majority of the directors then still in
office who either were directors at the beginning of such period or whose
election or recommendation for election was previously so approved) cease
to constitute a majority of the Board of Directors of the Company.

     “Commission” means the United States Securities and Exchange Commission.

     “Common Stock” of any Person means all Capital Stock of such Person that
is generally entitled to

-5-

 

     (1) vote in the election of directors of such Person; or

     (2) if such Person is not a corporation, vote or otherwise
participate in the selection of the governing body, partners, managers or
others that will control the management and policies of such Person.

          “Company” means the party named as such in the first paragraph of this
Indenture until a successor replaces such party pursuant to Article 5 and
thereafter means the successor.

          “Consolidated Fixed Charge Coverage Ratio” means, with respect to any
Person, the ratio of EBITDA of such Person during the four full fiscal quarters
(the “Four Quarter Period”) ending on or prior to the date of the transaction
giving rise to the need to calculate the Consolidated Fixed Charge Coverage
Ratio (the “Transaction Date”) to Consolidated Fixed Charges of such Person for
the Four Quarter Period. In addition to and without limitation of the
foregoing, for purposes of this definition, “EBITDA” and “Consolidated Fixed
Charges” shall be calculated after giving effect on a pro forma basis for the
period of such calculation to

     (1) the incurrence or repayment of any Indebtedness of such Person
or any of its Restricted Subsidiaries or the issuance or redemption or
other repayment of Preferred Stock of any such Restricted Subsidiary (and
the application of the proceeds thereof) giving rise to the need to make
such calculation and any incurrence or repayment of other Indebtedness
and, in the case of any Restricted Subsidiary, the issuance or redemption
or other repayment of Preferred Stock (and the application of the
proceeds thereof), other than the incurrence or repayment of Indebtedness
in the ordinary course of business for working capital purposes pursuant
to working capital facilities, occurring during the Four Quarter Period
or at any time subsequent to the last day of the Four Quarter Period and
on or prior to the Transaction Date, as if such incurrence or repayment
or issuance or redemption or other repayment, as the case may be (and the
application of the proceeds thereof), occurred on the first day of the
Four Quarter Period; and

     (2) any Asset Sales or Asset Acquisitions (including, without
limitation, any Asset Acquisition giving rise to the need to make such
calculation as a result of such Person or one of its Restricted
Subsidiaries (including any Person who becomes a Restricted Subsidiary as
a result of the Asset Acquisition) incurring, assuming or otherwise being
liable for Acquired Indebtedness and also including any EBITDA (provided
that such EBITDA shall be included only to the extent that Consolidated
Net Income would be includable pursuant to the definition of
“Consolidated Net Income”) attributable to the assets which are the
subject of the Asset Acquisition or Asset Sale during the Four Quarter
Period) occurring during the Four Quarter Period or at any time
subsequent to the last day of the Four Quarter Period and on or prior to
the Transaction Date, as if such Asset Sale or Asset Acquisition
(including the incurrence, assumption or liability for any such Acquired
Indebtedness) occurred on the first day of the Four Quarter Period.

          If such Person or any of its Restricted Subsidiaries directly or
indirectly guarantees Indebtedness of a third Person, the preceding sentence
shall give effect to the incurrence of such guaranteed Indebtedness as if such
Person or any Restricted Subsidiary of such Person had directly incurred or
otherwise assumed such guaranteed Indebtedness. Furthermore, in calculating
“Consolidated Fixed Charges” for purposes of determining the denominator (but
not the numerator) of this “Consolidated Fixed Charge Coverage Ratio,”

     (1) interest on outstanding Indebtedness determined on a fluctuating
basis as of the Transaction Date and which will continue to be so
determined thereafter shall be deemed to have

-6-

 

     accrued at a fixed rate per annum equal to the rate of interest on
such Indebtedness in effect on the Transaction Date;

     (2) if interest on any Indebtedness actually incurred on the
Transaction Date may optionally be determined at an interest rate based
upon a factor of a prime or similar rate, a eurocurrency interbank
offered rate, or other rates, then the interest rate in effect on the
Transaction Date will be deemed to have been in effect during the Four
Quarter Period; and

     (3) notwithstanding clause (1) above, interest on Indebtedness
determined on a fluctuating basis, to the extent such interest is covered
by one or more agreements in respect of Hedging Obligations, shall be
deemed to accrue at the rate per annum resulting after giving effect to
the operation of such agreements.

          For purposes of this definition, any pro forma calculation shall be made
in good faith by a responsible financial or accounting officer of the Company
consistent with Regulation S-X of the Exchange Act.

          “Consolidated Fixed Charges” means, with respect to any Person, for any
period, the sum, without duplication of Consolidated Interest Expense, plus the
amount of all cash dividend payments on any series of Preferred Stock of such
Person and its Restricted Subsidiaries paid during such period.

          “Consolidated Interest Expense” means, with respect to any Person, without
duplication, for any period, the aggregate amount of interest expense which, in
conformity with GAAP, would be set forth opposite the caption “interest
expense” or any like caption on an income statement for such Person and its
Restricted Subsidiaries on a consolidated basis including, but not limited to,

     (1) imputed interest included in Capitalized Lease Obligations;

     (2) all commissions, discounts and other fees and charges owed with
respect to letters of credit and bankers’ acceptance financing;

     (3) the net payment obligations associated with Hedging Obligations;

     (4) amortization of financing fees and expenses and the write-off of
deferred financing costs;

     (5) the interest portion of any deferred payment obligation;

     (6) amortization of discount or premium, if any;

     (7) all non-cash interest expense (other than interest amortized to
cost of sales);

     (8) all capitalized interest for such period; and

     (9) all interest incurred or paid under any guarantee of
Indebtedness (including a guarantee of principal, interest or any
combination thereof) of any Person.

     “Consolidated Leverage Ratio” means, with respect to any Person, the ratio
of

-7-

 

     (1) the aggregate outstanding amount of Indebtedness (excluding the
aggregate undrawn amount of all outstanding letters of credit) of such
Person and its Restricted Subsidiaries and Preferred Stock of any such
Restricted Subsidiary as of the date of calculation (the “Transaction
Date”) on a consolidated basis determined in accordance with GAAP to

     (2) such Person’s EBITDA for the four full fiscal quarters (the
“Four Quarter Period”) ending on or prior to the Transaction Date.

For purposes of this definition, clauses (1) and (2) above will be calculated
after giving effect on a pro forma basis to

     (1) the incurrence or repayment of any Indebtedness of such Person
or any of its Restricted Subsidiaries giving rise to the need to make
such calculation and any incurrence or repayment of other Indebtedness,
other than the incurrence or repayment of Indebtedness in the ordinary
course of business for working capital purposes pursuant to working
capital facilities, occurring during the Four Quarter Period or at any
time subsequent to the last day of the Four Quarter Period and on or
prior to the Transaction Date, as if such incurrence or repayment, as the
case may be (and the application of the proceeds thereof), occurred on
the first day of the Four Quarter Period; and

     (2) any Asset Sales or Asset Acquisitions (including, without
limitation, any Asset Acquisition giving rise to the need to make such
calculation as a result of such Person or one of its Restricted
Subsidiaries (including any Person who becomes a Restricted Subsidiary as
a result of the Asset Acquisition) incurring, assuming or otherwise being
liable for Acquired Indebtedness and also including any EBITDA (provided
that such EBITDA will be included only to the extent that Consolidated
Net Income would be includable pursuant to the definition of
“Consolidated Net Income”) attributable to the assets which are the
subject of the Asset Acquisition or Asset Sale during the Four Quarter
Period) occurring during the Four Quarter Period or at any time
subsequent to the last day of the Four Quarter Period and on or prior to
the Transaction Date, as if such Asset Sale or Asset Acquisition
(including the incurrence, assumption or liability for any such Acquired
Indebtedness) occurred on the first day of the Four Quarter Period.

If such Person or any of its Restricted Subsidiaries directly or indirectly
guarantees Indebtedness of a third Person, the preceding sentence will give
effect to the incurrence of such guaranteed Indebtedness as if such Person or
any Restricted Subsidiary of such Person had directly incurred or otherwise
assumed such guaranteed Indebtedness. For purposes of this definition, any pro
forma calculation shall be made in good faith by a responsible financial or
accounting officer of the Company consistent with Regulation S-X of the
Exchange Act.

          “Consolidated Net Income” means, with respect to any Person, for any
period, the aggregate of the Net Income of such Person and its Restricted
Subsidiaries for such period, on a consolidated basis, determined in accordance
with GAAP; provided, however, that

     (1) the Net Income of any Person, other than a Restricted Subsidiary
of the referent Person, shall be included only to the extent of the
amount of dividends or distributions paid to the referent Person or a
Restricted Subsidiary of such referent Person;

     (2) the Net Income of any Restricted Subsidiary of the Person in
question that is subject to any restriction or limitation on the payment
of dividends or the making of other distributions shall be excluded to
the extent of such restriction or limitation;

-8-

 

     (3) solely for the purposes of determining the aggregate amount
available for Restricted Payments under clause (a)(3)(A) of Section 4.11,
the Net Income of any Person acquired in a pooling of interests
transaction for any period prior to the date of such acquisition shall be
excluded;

     (4) any net gain (but not loss) resulting from an Asset Sale by the
Person in question or any of its Restricted Subsidiaries other than in
the ordinary course of business shall be excluded;

     (5) extraordinary gains and losses shall be excluded;

     (6) income or loss attributable to discontinued operations
(including, without limitation, operations disposed of during such period
whether or not such operations were classified as discontinued) shall be
excluded; and

     (7) in the case of a successor to the referent Person by
consolidation or merger or as a transferee of the referent Person’s
assets, any earnings of the successor corporation prior to such
consolidation, merger or transfer of assets shall be excluded.

          “Consolidated Net Worth” of any Person means the consolidated
shareholders’ equity of such Person, determined on a consolidated basis in
accordance with GAAP, less (without duplication) amounts attributable to
Disqualified Capital Stock of such Person.

          “Corporate Trust Office” means the office of the Trustee at which at any
particular time its corporate trust business shall be principally administered,
which office at the date of execution of this Indenture is located at 60
Livingston Avenue, St. Paul, MN 55107.

          “Cumulative Consolidated Net Income” means, with respect to any Person, as
of any date of determination, Consolidated Net Income from April 1, 2004 to the
end of such Person’s most recently ended full fiscal quarter prior to such
date, taken as a single accounting period.

          “Default” means an event or condition the occurrence of which is, or with
the lapse of time or the giving of notice or both would be, an Event of
Default.

          “Depository” means, with respect to the Notes issued in the form of one or
more Global Notes, The Depository Trust Company or another Person designated as
Depository by the Company, which Person must be a clearing agency registered
under the Exchange Act.

          “Designated Senior Indebtedness” as to the Company or any Guarantor, as
the case may be, means

     (1) any Senior Indebtedness under any Senior Credit Facility; and

     (2) any other Senior Indebtedness which at the time of determination
exceeds $10,000,000 in aggregate principal amount (or accreted value in
the case of Indebtedness issued at a discount) outstanding or available
under a committed facility, which is specifically designated in the
instrument evidencing such Senior Indebtedness as “Designated Senior
Indebtedness” by such Person and as to which the Trustee has been given
written notice of such designation.

-9-

 

          “Disqualified Capital Stock” means any Capital Stock of a Person or a
Restricted Subsidiary thereof which, by its terms (or by the terms of any
security into which it is convertible or for which it is exchangeable at the
option of the holder), or upon the happening of any event, matures or is
mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or
is redeemable at the option of the holder thereof, in whole or in part, on or
prior to the maturity date of the Notes, for cash; provided, however, that
Preferred Stock of a Person or any Restricted Subsidiary thereof that is issued
with the benefit of provisions requiring a change of control offer or an asset
sale offer to be made for such Preferred Stock in the event of a change of
control or an asset sale offer of such Person or Restricted Subsidiary which
provisions have substantially the same effect as the provisions described under
Section 4.17 shall not be deemed to be Disqualified Capital Stock solely by
virtue of such provisions. Notwithstanding anything to contrary herein, for
purposes of the definition of “Indebtedness,” the Existing Preferred Stock
shall not constitute Disqualified Capital Stock for purposes of this Indenture
as long as the terms thereof do not provide for any mandatory sinking fund
payment, redemption or other acceleration requirements until after the payment
in full in cash of the obligations under the Notes (other than contingent
indemnification obligations).

          “EBITDA” means, with respect to any Person and its Restricted
Subsidiaries, for any period, an amount equal to

     (1) the sum of

     (a) Consolidated Net Income for such period, plus

     (b) the provision for taxes for such period based on income or
profits to the extent such income or profits were included in
computing Consolidated Net Income and any provision for taxes
utilized in computing net loss under clause (a) hereof, plus

     (c) Consolidated Interest Expense for such period, plus

     (d) depreciation for such period on a consolidated basis, plus

     (e) amortization of intangibles for such period on a
consolidated basis, plus

     (f) any other non-cash items reducing Consolidated Net Income
for such period, other than non-cash items that represent accruals
of, or reserves for, cash disbursements to be made in any future
period; minus

     (2) all non-cash items increasing Consolidated Net Income for such
period, all for such Person and its Restricted Subsidiaries determined on
a consolidated basis in accordance with GAAP.

          “Exchange Act” means the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the Commission promulgated thereunder.

          “Exchange Notes” has the meaning provided in the preamble to this
Indenture.

          “Existing Notes” means the Senior Subordinated Increasing Rate Notes
issued under the Purchase Agreement.

-10-

 

          “Existing Preferred Stock” means, collectively, the Series A Preferred
Stock, the Series C Preferred Stock, the Series D Preferred Stock and the
Series E Preferred Stock.

          “fair market value” means, with respect to any asset or Property, the
price which could be negotiated in an arm’s-length, free market transaction,
for cash, between a willing seller and a willing and able buyer, neither of
whom is under undue pressure or compulsion to complete the transaction. Fair
market value shall be determined by the Board of Directors of the Company
acting reasonably and in good faith and shall be evidenced by a Board
Resolution.

          “First Lien Credit Agreement” means the First Lien Secured Credit
Facility, dated as of March 16, 2004, by and among the Company, the lenders
party thereto from time to time and Lehman Brothers Inc., Lehman Commercial
Paper Inc., Wachovia Capital Markets, LLC and Credit Suisse First Boston, as
amended from time to time.

          “Foreign Restricted Subsidiary” means a Restricted Subsidiary that is
incorporated in a jurisdiction other than the United States or a State thereof
or the District of Columbia.

          “GAAP” means generally accepted accounting principles consistently applied
as in effect in the United States from time to time.

          “Guarantee” means the guarantee by each Guarantor of the obligations of
the Company with respect to the Notes.

          “Guarantor” means the issuer at any time of a Guarantee (so long as such
Guarantee remains outstanding).

          “Guarantor Senior Indebtedness” means the principal of and premium, if
any, and interest on and any and all other fees, expense reimbursement
obligations and other amounts due pursuant to the terms of all agreements,
documents and instruments providing for, creating, securing or evidencing or
otherwise entered into in connection with

     (1) all Indebtedness of any Guarantor owed to lenders under any
Senior Credit Facility;

     (2) all obligations of any Guarantor with respect to Hedging
Obligations;

     (3) all obligations of any Guarantor to reimburse any bank or other
Person in respect of amounts paid under letters of credit, acceptances or
other similar instruments;

     (4) all other Indebtedness of any Guarantor which does not provide
that it is to rank pari passu with or subordinate to the Guarantee of
such Guarantor; and

     (5) all deferrals, renewals, extensions and refundings of, and
amendments, modifications and supplements to, any of the Guarantor Senior
Indebtedness described above.

          Notwithstanding anything to the contrary in the foregoing, Guarantor
Senior Indebtedness shall not include

     (1) Indebtedness of any Guarantor to any of its Subsidiaries, or to
any Affiliate of such Guarantor or any of such Affiliate’s Subsidiaries;

-11-

 

     (2) Indebtedness represented by the Guarantees;

     (3) any Indebtedness which by the express terms of the agreement or
instrument creating, evidencing or governing the same is junior or
subordinate in right of payment to any item of Guarantor Senior
Indebtedness;

     (4) any trade payable arising from the purchase of goods or
materials or for services obtained in the ordinary course of business;

     (5) Indebtedness incurred in violation of this Indenture;

     (6) Indebtedness represented by Disqualified Capital Stock; and

     (7) any Indebtedness to or guaranteed on behalf of, any shareholder,
director, officer or employee of such Guarantor or any Subsidiary of such
Guarantor.

          “Hedging Obligations” means, with respect to any Person, the net payment
obligations of such Person under

     (1) interest rate swap agreements, interest rate cap agreements and
interest rate collar agreements and

     (2) other agreements or arrangements entered into in order to
protect such Person against fluctuations in commodity prices, interest
rates or currency exchange rates.

          “Holder” or “Noteholder” means a Person in whose name a Note is registered
on the Registrar’s books.

          “incur” means, with respect to any Indebtedness or other obligation of any
Person, to create, issue, incur (by conversion, exchange or otherwise), assume,
guarantee or otherwise become liable in respect of such Indebtedness or other
obligation or the recording, as required pursuant to GAAP or otherwise, of any
such Indebtedness or other obligation on the balance sheet of such Person (and
“incurrence,” “incurred” and “incurring” shall have meanings correlative to the
foregoing); provided that a change in GAAP that results in an obligation of
such Person that exists at such time becoming Indebtedness shall not be deemed
an incurrence of such Indebtedness.

          “Indebtedness” means (without duplication), with respect to any Person,
any indebtedness at any time outstanding, secured or unsecured, contingent or
otherwise, which is for borrowed money (whether or not the recourse of the
lender is to the whole of the assets of such Person or only to a portion
thereof), or evidenced by bonds, notes, debentures or similar instruments or
representing the balance deferred and unpaid of the purchase price of any
Property if and to the extent any of the foregoing indebtedness would appear as
a liability upon a balance sheet of such Person prepared in accordance with
GAAP, and shall also include, to the extent not otherwise included,

     (1) any Capitalized Lease Obligations of such Person;

     (2) obligations secured by a lien to which the Property or assets
owned or held by such Person is subject, whether or not the obligation or
obligations secured thereby have been assumed, provided that the amount
of Indebtedness attributed to such obligations shall not exceed the fair
market value of the Property or assets securing such obligations;

-12-

 

     (3) guarantees of (or obligations with respect to letters of credit
supporting) obligations of other Persons which would be included within
this definition as Indebtedness for such other Persons (whether or not
such items would appear upon the balance sheet of the guarantor);

     (4) all obligations for the reimbursement of any obligor on any
letter of credit, banker’s acceptance or similar credit transaction;

     (5) Disqualified Capital Stock of such Person or any Restricted
Subsidiary thereof; and

     (6) hedging obligations of any such Person applicable to any of the
foregoing (if and to the extent such hedging obligations would appear as
a liability upon a balance sheet of such Person prepared in accordance
with GAAP).

The amount of Indebtedness of any Person at any date will be the outstanding
balance at such date of all unconditional obligations as described above and,
with respect to contingent obligations, the maximum reasonably anticipated
liability upon the occurrence of the contingency giving rise to the obligation
as determined in good faith by the Person incurring such liability; provided
that

     (1) the amount outstanding at any time of any Indebtedness issued
with original issue discount is the principal amount of such Indebtedness
less the remaining unamortized portion of the original issue discount of
such Indebtedness at such time as determined in conformity with GAAP; and

     (2) Indebtedness shall not include

     (a) any liability for federal, state, local or other taxes, and

     (b) any accounts payable, trade payables and other accrued
liabilities arising in the ordinary course of business.

          “Indenture” means this Indenture as amended, restated or supplemented from
time to time.

          “Independent Financial Advisor” means an investment banking firm of
national reputation in the United States

     (1) which does not, and whose directors, officers and employees or
Affiliates do not, have a direct or indirect financial interest in the
Company, and

     (2) which, in the judgment of the Board of Directors of the Company,
is otherwise independent and qualified to perform the task for which it
is to be engaged.

          “Initial Notes” has the meaning provided in the preamble to this
Indenture.

          “Institutional Accredited Investor” means an institution that is an
“accredited investor” as that term is defined in Rule 501(a)(1), (2), (3) or
(7) promulgated under the Securities Act.

          “Interest Payment Date” means the stated maturity of an installment of
interest on the Notes.

-13-

 

          “Investments” means, with respect to any Person, directly or indirectly,
any advance, account receivable (other than an account receivable arising in
the ordinary course of business of such Person), loan or capital contribution
to (by means of transfers of Property to others, payments for Property or
services for the account or use of others or otherwise), the purchase of any
Capital Stock, bonds, notes, debentures, partnership or joint venture interests
or other securities of, the acquisition, by purchase or otherwise, of all or
substantially all of the business or assets or stock or other evidence of
beneficial ownership of, any Person or the making of any investment in any
Person. Investments exclude

     (1) extensions of trade credit on commercially reasonable terms in
accordance with normal trade practices of such Person; and

     (2) the repurchase of securities of any Person by such Person.

For the purposes of Section 4.11 of this Indenture, (1) “Investments” (a)
include and are valued at the fair market value of the net assets of any
Restricted Subsidiary at the time that such Restricted Subsidiary is designated
an Unrestricted Subsidiary and (b) exclude the fair market value of the net
assets of any Unrestricted Subsidiary at the time that such Unrestricted
Subsidiary is designated a Restricted Subsidiary, provided that, in no event
may such amount exceed the net amount of any Investments constituting
Restricted Payments made in such Subsidiary after the Issue Date and (2) the
amount of any Investment shall be the original cost of such Investment plus the
cost of all additional Investments by the Company or any of its Restricted
Subsidiaries, without any adjustments for increases or decreases in value, or
write-ups, write-downs or write-offs with respect to such Investment, reduced
by the (i) amount returned in cash with respect to such Investment whether
through interest payments, principal payments, dividends or other distributions
and (ii) proceeds received by the Company or any of its Restricted Subsidiaries
from the disposition, retirement or redemption of all or any portion of such
Investment; provided that the aggregate of all such reductions may not exceed
the amount of such initial Investment plus the cost of all additional
Investments; provided, further, that no such payment of distributions or
receipt of any such other amounts may reduce the amount of any Investment if
such payment of distributions or receipt of any such amounts would be included
in Consolidated Net Income. If the Company or any Restricted Subsidiary of the
Company sells or otherwise disposes of any Common Stock of any direct or
indirect Restricted Subsidiary of the Company such that, after giving effect to
any such sale or disposition, the Company no longer owns, directly or
indirectly, 100% of the outstanding Common Stock of such Restricted Subsidiary,
the Company shall be deemed to have made an Investment on the date of any such
sale or disposition equal to the fair market value of the Common Stock of such
Restricted Subsidiary not sold or disposed of.

          “Issue Date” means May 21, 2004, the date that Initial Notes are issued
under this Indenture.

          “Lien” means, with respect to any Property or assets of any Person, any
mortgage or deed of trust, pledge, hypothecation, assignment, deposit
arrangement, security interest, lien, charge, easement, encumbrance,
preference, priority or other security agreement or preferential arrangement of
any kind or nature whatsoever on or with respect to such Property or assets
(including without limitation, any Capitalized Lease Obligation, conditional
sales or other title retention agreement having substantially the same economic
effect as any of the foregoing).

          “Maturity Date” means March 31, 2010.

          “Monitoring Agreement” means the Amended and Restated Monitoring Services
Agreement dated as of May 17, 2004, by and among the Company and Transportation
Investment Partners,

-14-

 

L.L.C., Caravelle Investment Fund, L.L.C., Albion Alliance Mezzanine Fund,
L.P., Albion Alliance Mezzanine Fund II, L.P., Trimaran Fund Management, L.L.C.
and Albion Alliance, LLC.

          “Net Income” means, with respect to any Person, for any period, the net
income (loss) of such Person determined in accordance with GAAP.

          “Net Proceeds” means

     (1) in the case of any sale of Capital Stock by or equity
contribution to any Person, the aggregate net cash proceeds received by
such Person, after payment of expenses, commissions and the like incurred
in connection therewith,

     (2) in the case of any exchange, exercise, conversion or surrender
of outstanding securities of any kind for or into shares of Capital Stock
of the Company which is not Disqualified Capital Stock, the net book
value of such outstanding securities on the date of such exchange,
exercise, conversion or surrender (plus any additional amount required to
be paid by the holder to such Person upon such exchange, exercise,
conversion or surrender, less any and all payments made to the holders,
e.g., on account of fractional shares and less all expenses incurred by
such Person in connection therewith), and

     (3) in the case of any issuance of any Indebtedness by the Company
or any Restricted Subsidiary, the aggregate net cash proceeds received by
such Person after the payment of expenses, commissions, underwriting
discounts and the like incurred in connection therewith.

          “New Credit Facilities” means the First Lien Credit Agreement together
with the Second Lien Credit Agreement.

          “Non-Payment Event of Default” means any event (other than a Payment
Default) the occurrence of which entitles one or more Persons to accelerate the
maturity of any Designated Senior Indebtedness.

          “Notes” means the Initial Notes, the Subsequent Notes and the Exchange
Notes treated as a single class of securities, as amended or supplemented from
time to time in accordance with the terms hereof, that are issued pursuant to
this Indenture.

          “Officer” means, with respect to any Person, the Chief Executive Officer,
the Chief Financial Officer, Chief Accounting Officer, Treasurer, President or
any Vice President of such Person.

          “Officers’ Certificate” means, with respect to any Person, a certificate
signed by the Chief Executive Officer, the President or any Vice President and
the Chief Financial Officer, Chief Accounting Officer or any Treasurer of such
Person that shall comply with applicable provisions of this Indenture.

          “Opinion of Counsel” means a written opinion from legal counsel who and
which is reasonably acceptable to the Trustee complying with the requirements
of this Indenture. Such legal counsel shall be outside counsel and not an
employee of or in-house counsel to the Company.

          “Payment Default” means any default, whether or not any requirement for
the giving of notice, the lapse of time or both, or any other condition to such
default becoming an event of default has

-15-

 

occurred, in the payment of principal of or premium, if any, or interest
on or any other amount payable in connection with Designated Senior
Indebtedness.

          “Permitted Asset Swap” means, with respect to any Person, the
substantially concurrent exchange of assets of such Person for assets of
another Person which are useful to the business of such aforementioned Person.

          “Permitted Holders” means (a) (i) CIBC Inc., (ii) Caravelle Investment
Fund, L.L.C., (iii) Albion Alliance Mezzanine Fund, L.P., (iv) Albion Alliance
Mezzanine Fund II, L.P., (v) Trimaran Fund II, L.L.C., (vi) Transportation
Investment Partners, L.L.C., (vii) any Affiliate of any Person named in clauses
(a)(i) through (a)(vi) (collectively, the “Institutional Investors”) and (viii)
with respect to any Institutional Investor, any Person managed by such
Institutional Investor or any of its Affiliates (other than their other
portfolio companies), and (b)(i) Thomas Begel, (ii) Andrew Weller, (iii)
Camillo Santomero, (iv) James Cirar and (v) Persons that are wholly owned by
the individuals named in clauses (b)(i) through (b)(iv) above.

          “Permitted Indebtedness” means:

     (1) Indebtedness of the Company or any Restricted Subsidiary
incurred pursuant to one or more Term Loan Facilities not to exceed $215
million aggregate principal amount at any time outstanding, less the
amount of any repayments of principal made since the Issue Date;

     (2) Indebtedness of the Company or any Restricted Subsidiary
incurred pursuant to one or more Revolving Facilities in a principal
amount outstanding at any time not to exceed the greater of (A) $50
million and (B) the Borrowing Base;

     (3) Indebtedness under the Notes, this Indenture and the Guarantees;

     (4) Indebtedness not covered by any other clause of this definition
which is outstanding on the Issue Date reduced by the amount of any
mandatory prepayments, permanent reductions or scheduled payments
actually made thereunder;

     (5) Indebtedness of the Company to any Wholly Owned Subsidiary and
Indebtedness of any Wholly Owned Subsidiary to the Company or another
Wholly Owned Subsidiary, in each case subject to no Lien held by a Person
other than the Company; provided, however, that:

     (a) (i) if the Company is the obligor on such Indebtedness or
(ii) any Guarantor is the obligor on such Indebtedness, other than
if the Indebtedness is owed to the Company, then, in each case,
such Indebtedness must be expressly subordinate in right of payment
to the prior payment in full in cash of all obligations with
respect to the Notes, in the case of the Company, or the Guarantee
of such Guarantor, in the case of a Guarantor; and

     (b) if as of any date any Person other than the Company or a
Wholly Owned Subsidiary of the Company owns or holds any such
Indebtedness or if as of any date any Person other than the Company
holds a Lien in respect of such Indebtedness, such date shall be
deemed to be the incurrence of Indebtedness not constituting
Permitted Indebtedness by the issuer of such Indebtedness;

-16-

 

     (6) Purchase Money Indebtedness of the Company or any Restricted
Subsidiary and Capitalized Lease Obligations of the Company or any
Restricted Subsidiary incurred to acquire Property in the ordinary course
of business which Purchase Money Indebtedness and Capitalized Lease
Obligations do not in the aggregate exceed $10 million at any one time
outstanding;

     (7) Indebtedness of the Company or any Restricted Subsidiary arising
from the honoring by a bank or other financial institution of a check,
draft or similar instrument inadvertently (except in the case of daylight
overdrafts) drawn against insufficient funds in the ordinary course of
business; provided that such Indebtedness is extinguished within two
Business Days of incurrence;

     (8) the incurrence by the Company or any Restricted Subsidiary of
Hedging Obligations that are incurred in the ordinary course of business
of the Company or such Restricted Subsidiary and not for speculative
purposes or as required by any Senior Credit Facility; provided that, in
the case of any Hedging Obligation that relates to

     (a) interest rate risk, the notional principal amount of such
Hedging Obligation does not exceed the principal amount of the
Indebtedness to which such Hedging Obligation relates;

     (b) currency risk, such Hedging Obligation does not increase
the Indebtedness of the Company and its Restricted Subsidiaries
outstanding other than as a result of fluctuations in foreign
currency exchange rates or by reason of fees, indemnities and
compensation payable thereunder; and

     (c) commodity price risk, with respect to commodities
purchased by such Person in the ordinary course of business, such
Hedging Obligation does not increase the Indebtedness of the
Company and its Restricted Subsidiaries outstanding other than as a
result of fluctuations in commodity prices or by reason of fees,
indemnities and compensation payable thereunder;

     (9) Indebtedness in respect of performance bonds, bankers’
acceptances, letters of credit and surety or appeal bonds provided by the
Company and the Restricted Subsidiaries to their customers in the
ordinary course of their business;

     (10) Refinancing Indebtedness;

     (11) additional Indebtedness of the Company and its Restricted
Subsidiaries not to exceed $10 million in aggregate principal amount at
any one time outstanding;

     (12) Indebtedness of the Company or any Restricted Subsidiary
consisting of guarantees, indemnities or obligations in respect of
purchase price adjustments (including adjustments in the purchase price
related to the performance or results of any acquired business) in
connection with the acquisition or disposition of assets permitted under
this Indenture;

     (13) Indebtedness of the Company or any of its Restricted
Subsidiaries represented by letters of credit for the account of the
Company or such Restricted Subsidiary, as the case may be, issued in the
ordinary course of business of the Company or such Restricted Subsidiary,
including, without limitation, in order to provide security for workers’
compensation claims or payment obligations in connection with
self-insurance or similar requirements in the ordinary course of

-17-

 

business and other Indebtedness with respect to workers’
compensation claims, self-insurance obligations, performance, surety and
similar bonds and completion guarantees provided by the Company or any
Restricted Subsidiary in the ordinary course of business;

     (14) guarantees of Indebtedness otherwise permitted under this
Indenture;

     (15) Subordinated Indebtedness the net proceeds of which are applied
to repurchase, redeem, repay, retire or otherwise acquire all or any
portion of the Series A Preferred Stock and/or the Series E Preferred
Stock and the guarantee of such Subordinated Indebtedness by the
Guarantors; provided that such guarantee is subordinated in right of
payment to the Guarantee of the Notes at least to the same extent as such
Subordinated Indebtedness is subordinated in right of payment to the
Notes; provided, further, after giving effect to the incurrence of such
Subordinated Indebtedness and the receipt and application of the proceeds
thereof, the Company’s Consolidated Leverage Ratio does not exceed 4.25
to 1; and

     (16) Indebtedness of Persons that are acquired by the Company or any
of its Restricted Subsidiaries or merged into a Restricted Subsidiary in
accordance with the terms of this Indenture; provided, however, that such
Indebtedness is not incurred in contemplation of such acquisition or
merger or to provide all or a portion of the funds or credit support
required to consummate such acquisition or merger; provided, further,
however, that after giving effect to such acquisition and the incurrence
of such Indebtedness either (x) the Company would be permitted to incur
at least $1.00 of additional Indebtedness (other than Permitted
Indebtedness) pursuant to Section 4.10(a); or (y) the Company’s
Consolidated Fixed Charge Coverage Ratio would be greater than
immediately prior to such acquisition.

     “Permitted Investments” means Investments made on or after the Issue Date
consisting of

     (1) Investments by the Company, or by a Restricted Subsidiary
thereof, in the Company or a Restricted Subsidiary;

     (2) Investments by the Company, or by a Restricted Subsidiary
thereof, in a Person, if as a result of such Investment

     (a) such Person becomes a Restricted Subsidiary of the Company
or

     (b) such Person is merged, consolidated or amalgamated with or
into, or transfers or conveys substantially all of its assets to,
or is liquidated into, the Company or a Restricted Subsidiary
thereof;

     (3) Investments in cash and Cash Equivalents;

     (4) receivables owing to the Company or any Restricted Subsidiary,
if created or acquired in the ordinary course of business and payable or
dischargeable in accordance with customary trade terms; provided,
however, that such trade terms may include such concessionary trade terms
as the Company or any such Restricted Subsidiary deems reasonable under
the circumstances;

     (5) payroll, travel and similar advances to cover matters that are
expected at the time of such advances ultimately to be treated as
expenses for accounting purposes and that are made in the ordinary course
of business;

-18-

 

     (6) loans or advances to employees made in the ordinary course of
business consistent with past practices of the Company or such Restricted
Subsidiary not to exceed $2 million in the aggregate outstanding at any
one time;

     (7) stock, obligations or securities received in settlement of debts
created in the ordinary course of business and owing to the Company or
any Restricted Subsidiary or in satisfaction of judgments;

     (8) an Investment that is made by the Company or a Restricted
Subsidiary thereof in the form of any Capital Stock, bonds, notes,
debentures, partnership or joint venture interests or other securities
that are issued by a third party to the Company or such Restricted
Subsidiary solely as partial consideration for the consummation of an
Asset Sale that is otherwise permitted under Section 4.13;

     (9) Investments in securities of trade creditors or customers
received pursuant to any plan of reorganization or similar arrangement
upon the bankruptcy or insolvency of such trade creditors or customers;

     (10) Hedging Obligations entered into in the ordinary course of the
Company’s or its Restricted Subsidiaries’ business and not for
speculative purposes;

     (11) Capital Stock of a joint venture or similar entity primarily
engaged in a business which is the same, similar, ancillary or related to
the businesses in which the Company and its Restricted Subsidiaries are
engaged in on the Issue Date, provided that such Investments shall not
exceed $10 million outstanding at any time;

     (12) notes or chattel paper received by the Company or a Restricted
Subsidiary as consideration for the ordinary course of business sale or
lease of trucks or other products or inventory;

     (13) Investments in prepaid expenses, negotiable instruments held
for collection and lease, utility and workers’ compensation, performance
and similar deposits entered into as a result of the operations of the
business in the ordinary course of business; and

     (14) obligations of one or more officers or other employees of the
Company or any of its Restricted Subsidiaries in connection with such
officer’s or employee’s acquisition of shares of Common Stock of the
Company so long as no cash is paid by the Company or any of its
Restricted Subsidiaries to such officers or employees in connection with
the acquisition of any such obligations.

          “Permitted Junior Securities” means equity securities or subordinated debt
securities of the Company as reorganized or readjusted or securities of the
Company or any other company, trust, corporation or partnership provided for by
a plan of reorganization or readjustment, that, in the case of any such
subordinated securities are junior or the payment of which is otherwise
subordinate, at least to the extent provided in the Indenture with respect to
the Notes, to the payment and satisfaction in full in cash of all Senior
Indebtedness of the Company at the time outstanding, and to the payment of all
securities issued in exchange therefor, to the holders of the Senior
Indebtedness at the time outstanding.

-19-

 

     “Permitted Liens” means

     (1) Liens on Property or assets of, or any shares of Capital Stock
of or secured Indebtedness of, any Person existing at the time such
Person becomes a Restricted Subsidiary of the Company or at the time such
Person is merged into the Company or any of its Restricted Subsidiaries;
provided that such Liens

     (a) are not incurred in connection with, or in contemplation
of, such Person becoming a Restricted Subsidiary of the Company or
merging into the Company or any of its Restricted Subsidiaries, and

     (b) do not extend to or cover any Property, assets, Capital
Stock or Indebtedness other than those of such Person at the time
such Person becomes a Restricted Subsidiary or is merged into the
Company or any of its Restricted Subsidiaries;

     (2) Liens securing Senior Indebtedness which Senior Indebtedness is
incurred in compliance with Section 4.10;

     (3) Liens existing on the Issue Date;

     (4) Liens securing the Notes and the Guarantees;

     (5) Liens securing Refinancing Indebtedness, provided that any such
Lien does not extend to or cover any Property, asset, Capital Stock or
Indebtedness, other than the Property, asset, Capital Stock or
Indebtedness so refunded, refinanced or extended;

     (6) Liens in favor of the Company or any of its Restricted
Subsidiaries;

     (7) Liens to secure Purchase Money Indebtedness that is otherwise
permitted under this Indenture, provided that

     (a) the principal amount of the Indebtedness secured by such
Lien does not exceed 100% of the purchase price, or the cost of
installation, construction or improvement, of the Property or asset
to which such Purchase Money Indebtedness relates,

     (b) such Lien does not extend to or cover any property or
asset other than such item of Property or asset and any
improvements on such property or asset, and

     (c) such Lien is created with 180 days of such acquisition or
the completion of such installation, construction or improvement,
as the case may be;

     (8) statutory liens or landlords’, carriers’, warehouseman’s,
mechanics’, banker’s (and rights of set off), suppliers’, materialmen’s,
repairmen’s, workmen’s or other like Liens arising in the ordinary course
of business which do not secure any Indebtedness and with respect to
amounts not yet delinquent or being contested in good faith by
appropriate proceedings;

     (9) Liens for taxes, assessments, charges or other governmental
levies not yet due or as to which the period of grace (not to exceed 60
days), if any, related thereto has not expired or which are overdue but
are being contested in good faith by appropriate proceedings;

-20-

 

     (10) Liens securing Capitalized Lease Obligations permitted to be
incurred under clause (6) of the definition of “Permitted Indebtedness,”
provided that such Lien does not extend to any Property other than that
subject to the underlying lease;

     (11) easements, rights-of-way, restrictions (including zoning
restrictions), covenants, licenses, encroachments, protrusions and other
similar charges or encumbrances in respect of real property not
interfering in any material respect with the ordinary conduct of the
business of the Company or any of its Restricted Subsidiaries;

     (12) purported Liens evidenced by the filing of precautionary
Uniform Commercial Code financing statements relating solely to operating
leases of personal property entered into in the ordinary course of
business;

     (13) licenses of patents, trademarks and other intellectual property
rights granted by the Company or any of its Restricted Subsidiaries in
the ordinary course of business and not interfering in any respect with
the ordinary conduct of the business of the Company or such Restricted
Subsidiary;

     (14) leases or subleases to third persons in the ordinary course of
business that do not interfere in any material respect with the business
of the Company and its Restricted Subsidiaries taken as a whole;

     (15) other Liens securing obligations incurred in the ordinary
course of business which obligations do not exceed $2.5 million in the
aggregate at any one time outstanding;

     (16) Liens to secure the performance of bids, trade contracts,
leases, statutory obligations, surety or appeal bonds, performance bonds
or other similar obligations (other than obligations for borrowed money)
in the ordinary course of business;

     (17) Liens arising out of conditional sale, title retention or
consignment in the ordinary course of business;

     (18) Liens securing the payment of workers’ compensation,
unemployment insurance, other social security benefits or other
insurance-related obligations in the ordinary course of business;

     (19) Liens securing Hedging Obligations permitted by this Indenture;

     (20) Liens arising out of judgments, decrees, orders or awards in
respect of which the Company shall in good faith be prosecuting an appeal
or proceedings for review; and

     (21) any extensions, substitutions, replacements or renewals (or
successive extensions, substitutions, replacements or renewals) of the
foregoing.

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

-21-

 

          “Preferred Stock” means any Capital Stock of a Person, however designated,
which entitles the holder thereof to a preference with respect to dividends,
distributions or liquidation proceeds of such Person over the holders of other
Capital Stock issued by such Person.

          “Property” of any Person means all types of real, personal, tangible,
intangible or mixed property owned by such Person whether or not included in
the most recent consolidated balance sheet of such Person and its Subsidiaries
under GAAP.

          “Purchase Agreement” means the Purchase Agreement dated as of March 9,
2000, as such agreement is amended from time to time, among the Company, the
guarantors named therein, Transportation Acquisition I Corp., CIBC Inc. and
First Union Investors, Inc.

          “Purchase Money Indebtedness” means Indebtedness of any Person incurred
for the purpose of financing all or any part of the purchase price, or the cost
of installation, construction or improvement of, any Property or asset.

          “Qualified Institutional Buyer” shall have the meaning specified in Rule
144A promulgated under the Securities Act.

          “Record Date” for interest payable on any Interest Payment Date (except a
date for payment of default interest) means the February 15 and August 15
(whether or not a Business Day), as the case may be, immediately preceding such
Interest Payment Date.

          “Redemption Date” when used with respect to any Note to be redeemed means
the date fixed for such redemption pursuant to this Indenture.

          “Redemption Price” when used with respect to any Note to be redeemed means
the price fixed for such redemption pursuant to this Indenture.

          “Refinancing Indebtedness” means Indebtedness that refunds, refinances or
extends any Indebtedness of the Company outstanding on the Issue Date or other
Indebtedness permitted to be incurred by the Company or its Restricted
Subsidiaries pursuant to the terms of this Indenture, but only to the extent
that

     (1) the Refinancing Indebtedness is subordinated to the Notes to at
least the same extent as the Indebtedness being refunded, refinanced or
extended, if at all;

     (2) the Refinancing Indebtedness is scheduled to mature either

     (a) no earlier than the Indebtedness being refunded,
refinanced or extended, or

     (b) after the maturity date of the Notes;

     (3) the portion, if any, of the Refinancing Indebtedness that is
scheduled to mature on or prior to the maturity date of the Notes has a
Weighted Average Life to Maturity at the time such Refinancing
Indebtedness is incurred that is equal to or greater than the Weighted
Average Life to Maturity of the portion of the Indebtedness being
refunded, refinanced or extended that is scheduled to mature on or prior
to the maturity date of the Notes;

-22-

 

     (4) such Refinancing Indebtedness is in an aggregate principal
amount that is equal to or less than the sum of

     (a) the aggregate principal amount then outstanding under the
Indebtedness being refunded, refinanced or extended, and

     (b) the amount of accrued and unpaid interest, if any, and
premiums owed, if any, not in excess of preexisting prepayment
provisions on such Indebtedness being refunded, refinanced or
extended, and

     (c) the amount of customary fees, expenses and costs related
to the incurrence of such Refinancing Indebtedness; and

     (5) such Refinancing Indebtedness is incurred by the same Person
that initially incurred the Indebtedness being refunded, refinanced or
extended, provided that the Company may incur Refinancing Indebtedness to
refund, refinance or extend Indebtedness that was initially incurred by a
Restricted Subsidiary.

          “Registration Rights Agreement” means the Registration Rights Agreement
dated as of May 21, 2004 among the Company, the Guarantors and the Holders of
Initial Notes named therein substantially in the form of Exhibit G hereto.

          “Regulation S” means Regulation S promulgated under the Securities Act.

          “Restricted Payment” means any of the following:

     (1) the declaration or payment of any dividend or any other
distribution or payment on Capital Stock of the Company or any Restricted
Subsidiary of the Company or any payment made to the direct or indirect
holders (in their capacities as such) of Capital Stock of the Company or
any Restricted Subsidiary of the Company (other than (a) dividends or
distributions payable solely in Capital Stock (other than Disqualified
Capital Stock) or in options, warrants or other rights to purchase such
Capital Stock (other than Disqualified Capital Stock), and (b) in the
case of Restricted Subsidiaries of the Company, dividends or
distributions payable to the Company or to a Restricted Subsidiary of the
Company);

     (2) the purchase, redemption or other acquisition or retirement for
value of any Capital Stock of the Company or any of its Restricted
Subsidiaries (other than Capital Stock owned by the Company or a Wholly
Owned Subsidiary of the Company, excluding Disqualified Capital Stock) or
any option, warrants or other rights to purchase such Capital Stock;

     (3) the making of any principal payment on, or the purchase,
defeasance, repurchase, redemption or other acquisition or retirement for
value, prior to any scheduled maturity, scheduled repayment or scheduled
sinking fund payment, of any Indebtedness which is subordinated in right
of payment to the Notes (other than any such subordinated Indebtedness
(except for Subordinated Indebtedness incurred pursuant to clause (15) of
the definition of Permitted Indebtedness) acquired in anticipation of
satisfying a scheduled sinking fund obligation, principal installment or
final maturity, in each case due within one year of the date of
acquisition);

     (4) the making of any Investment or guarantee of any Investment in
any Person other than a Permitted Investment;

-23-

 

     (5) any designation of a Subsidiary as an Unrestricted Subsidiary
(valued at the fair market value of the net assets of such Restricted
Subsidiary on the date of such designation); and

     (6) the forgiveness of any Indebtedness of an Affiliate of the
Company (other than a Guarantor) to the Company or a Restricted
Subsidiary of the Company.

          “Restricted Security” has the meaning set forth in Rule 144(a)(3)
promulgated under the Securities Act; provided that the Trustee shall be
entitled to request and conclusively rely upon an Opinion of Counsel with
respect to whether any Note is a Restricted Security.

          “Restricted Subsidiary” means a Subsidiary of the Company other than an
Unrestricted Subsidiary and includes all of the Subsidiaries of the Company
existing as of the Issue Date. The Board of Directors of the Company may
designate any Unrestricted Subsidiary as a Restricted Subsidiary if immediately
after giving effect to such action (and treating any Acquired Indebtedness as
having been incurred at the time of such action),

     (1) the Company could have incurred at least $1.00 of additional
Indebtedness (other than Permitted Indebtedness) pursuant to Section
4.10; and

     (2) no Default or Event of Default shall have occurred and be
continuing or result therefrom.

          “Revolving Facilities” means the revolving credit facilities provided to
the Company pursuant to one or more Senior Credit Facilities.

          “Rule 144A” means Rule 144A promulgated under the Securities Act.

          “Sale and Lease-Back Transaction” means any arrangement with any Person
providing for the leasing by the Company or any Restricted Subsidiary of the
Company of any real or tangible personal property, which property has been or
is to be sold or transferred by the Company or such Restricted Subsidiary to
such Person in contemplation of such leasing.

          “Second Lien Credit Agreement” means the Second Lien Secured Credit
Facility, dated as of March 16, 2004, by and among the Company the lenders
party thereto from time to time and Lehman Brothers Inc., Lehman Commercial
Paper Inc., Wachovia Capital Markets, LLC and Credit Suisse First Boston, as
amended from time to time.

          “Securities Act” means the Securities Act of 1933, as amended, and the
rules and regulations of the Commission promulgated thereunder.

          “Senior Credit Facilities” means the New Credit Facilities, together with
the related documents thereto (including, without limitation, any guarantee
agreements and security documents, including as provided by any Subsidiaries of
the Company), in each case as such agreements may be amended (including any
amendment and restatement thereof), supplemented or otherwise modified from
time to time, including any agreement extending the maturity of, refinancing,
replacing or otherwise restructuring (including increasing the amount of
available borrowings thereunder (provided that such increase in borrowings is
permitted under Section 4.10) or adding Restricted Subsidiaries of the Company
as additional borrowers or guarantors thereunder) all or any portion of the
Indebtedness under such agreement or any successor or replacement agreement and
whether by the same or any other agents, lender or group of lenders.

-24-

 

          “Senior Indebtedness” means the principal of and premium, if any, and
interest on, and any and all other fees, expense reimbursement obligations and
other amounts due pursuant to the terms of all agreements, documents and
instruments providing for, creating, securing or evidencing or otherwise
entered into in connection with

     (1) all Indebtedness of the Company owed to lenders under any Senior
Credit Facilities;

     (2) all obligations of the Company with respect to Hedging
Obligations;

     (3) all obligations of the Company to reimburse any bank or other
Person in respect of amounts paid under letters of credit, acceptances or
other similar instruments;

     (4) all other Indebtedness of the Company which does not provide
that it is to rank pari passu with or subordinate to the Notes; and

     (5) all deferrals, renewals, extensions and refundings of, and
amendments, modifications and supplements to, any of the Senior
Indebtedness described above.

          Notwithstanding anything to the contrary in the foregoing, Senior
Indebtedness will not include

     (1) Indebtedness of the Company to any of its Subsidiaries, or to
any Affiliate of the Company or any of such Affiliate’s Subsidiaries;

     (2) Indebtedness represented by the Notes;

     (3) any Indebtedness which by the express terms of the agreement or
instrument creating, evidencing or governing the same is junior or
subordinate in right of payment to any item of Senior Indebtedness;

     (4) any trade payable arising from the purchase of goods or
materials or for services obtained in the ordinary course of business;

     (5) Indebtedness incurred in violation of this Indenture;

     (6) Indebtedness represented by Disqualified Capital Stock; and

     (7) any Indebtedness to or guaranteed on behalf of, any shareholder,
director, officer or employee of the Company or any Subsidiary of the
Company.

          “Series A Preferred Stock” means the 14.5% Senior Redeemable Preferred
Stock of the Company, par value $0.01 per share, originally issued on March 9,
2000, and any shares of Preferred Stock into which such series are exchangeable
in accordance with the terms thereof.

          “Series C Preferred Stock” means the Series C Preferred Stock of the
Company, par value $0.01 per share, issued on December 19, 2003.

          “Series D Preferred Stock” means the Series D Preferred Stock of the
Company, par value $0.01 per share, issued on December 19, 2003.

-25-

 

          “Series E Preferred Stock” means the 25% Senior Redeemable Preferred
Stock, Series E, of the Company, par value $0.01 per share, issued on December
19, 2003.

          “Significant Subsidiary” means, with respect to any Person, any Restricted
Subsidiary of such Person that satisfies the criteria for a “significant
subsidiary” set forth in Rule 1.02(w) of Regulation S-X under the Securities
Act, as such Rule is in effect on the Issue Date.

          “Subordinated Indebtedness” means Indebtedness of the Company (i) that is
subordinated in right of payment to the Notes at least to the same extent as
the Notes are subordinated to Designated Senior Indebtedness of the Company as
determined in good faith by the Company and (ii) that does not provide for a
maturity or mandatory sinking fund payment prior to the maturity of the Notes.

          “Subsequent Notes” is defined in each of Exhibits A and B.

          “Subsidiary” of any specified Person means any corporation, partnership,
limited liability company, joint venture, association or other business entity,
whether now existing or hereafter organized or acquired,

     (1) in the case of a corporation, of which more than 50% of the
total voting power of the Capital Stock entitled (without regard to the
occurrence of any contingency) to vote in the election of directors,
officers or trustees thereof is held by such first-named Person or any of
its Subsidiaries; or

     (2) in the case of a partnership, limited liability company, joint
venture, association or other business entity, with respect to which such
first-named Person or any of its Subsidiaries has the power to direct or
cause the direction of the management and policies of such entity by
contract or otherwise or if in accordance with GAAP such entity is
consolidated with the first-named Person for financial statement
purposes.

          “Term Loan Facilities” means the term loans under the Senior Credit
Facilities.

          “Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939 (15
U.S. Code Sections 77aaa-77bbbb) as in effect on the date of this Indenture
(except as provided in Section 8.03 hereof).

          “Trust Officer” means any officer or assistant officer of the Trustee
assigned by the Trustee to administer trust accounts.

          “Trustee” means the party named as such in the first paragraph of this
Indenture until a successor replaces it pursuant to this Indenture and
thereafter means the successor.

          “Unrestricted Subsidiary” means

     (1) any Subsidiary of an Unrestricted Subsidiary; and

     (2) any Subsidiary of the Company which has been designated after
the Issue Date as an Unrestricted Subsidiary by a resolution adopted by
the Board of Directors of the Company;

provided that a Subsidiary may be so designated as an Unrestricted Subsidiary
only if

-26-

 

     (a) such designation is in compliance with Section 4.11; and

     (b) immediately after giving effect to such designation, the Company
could have incurred at least $1.00 of additional Indebtedness (other than
Permitted Indebtedness) pursuant to Section 4.10;

     (c) no Default or Event of Default has occurred and is continuing or
results therefrom; and

     (d) neither the Company nor any Restricted Subsidiary shall at any
time

     (i) provide a guarantee of, or similar agreement or
undertaking as credit support to, any Indebtedness of such
Subsidiary (including any undertaking, agreement or instrument
evidencing such Indebtedness),

     (ii) be directly or indirectly liable for any Indebtedness of
such Subsidiary or

     (iii) be directly or indirectly liable for any other
Indebtedness which provides that the holder thereof may (upon
notice, lapse of time or both) declare a default thereon (or cause
the payment thereof to be accelerated or payable prior to its final
scheduled maturity) upon the occurrence of a default with respect
to any other Indebtedness that is Indebtedness of such Subsidiary
(including any corresponding right to take enforcement action
against such Subsidiary),

except in the case of clause (i) or (ii) to the extent

     (i) that the Company or such Restricted Subsidiary could
otherwise provide such a guarantee or incur such Indebtedness
(other than as Permitted Indebtedness) pursuant to Section 4.10 and

     (ii) the provision of such guarantee and the incurrence of
such Indebtedness otherwise would be permitted under Section 4.11.

          The Trustee shall be provided with an Officers’ Certificate stating that
such designation is permitted and setting forth the basis upon which the
calculations required by this definition were computed, together with a copy of
the Board Resolution adopted by the Board of Directors of the Company making
such designation.

          “U.S. Government Obligations” means (a) securities that are direct
obligations of the United States of America for the payment of which its full
faith and credit are pledged or (b) obligations of a Person controlled or
supervised by and acting as an agency or instrumentality of the United States
of America, the payment of which is unconditionally guaranteed as a full faith
and credit obligation by the United States of America, which, in either case,
are not callable or redeemable at the option of the issuer thereof, and shall
also include a depository receipt issued by a bank (as defined in Section
3(a)(2) of the Securities Act) as custodian with respect to any such U.S.
Government Obligation or a specific payment of principal of or interest on any
such U.S. Government Obligation held by such custodian for the account of the
holder of such depository receipt; provided that (except as required by law)
such custodian is not authorized to make any deduction from the amount payable
to the holder of such depository receipt from any amount received by the
custodian in respect of the U.S. Government Obligation or a specific payment

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of principal or interest on any such U.S. Government Obligation held by
such custodian for the account of the holder of such depository receipt.

          “Weighted Average Life to Maturity” means, when applied to any
Indebtedness at any date, the number of years obtained by dividing

     (1) the then outstanding aggregate principal amount of such
Indebtedness into

     (2) the sum of the total of the products obtained by multiplying

     (a) the amount of each then remaining installment, sinking
fund, serial maturity or other required payment of principal,
including payment at final maturity, in respect thereof, by

     (b) the number of years (calculated to the nearest
one-twelfth) which will elapse between such date and the making of
such payment.

          “Wholly Owned Subsidiary” means any Restricted Subsidiary, all of the
outstanding voting securities (other than directors’ qualifying shares) of
which are owned, directly or indirectly, by the Company.

Section 1.02. Other Definitions.

          The definitions of the following terms may be found in the sections
indicated as follows:

	 	 	 
	Term 
	 	Defined in Section

	“Affiliate Transaction”
	 	4.14(a)
	“Agent Members”
	 	2.15(a)
	“Authenticating Agent”
	 	2.02
	“Bankruptcy Law”
	 	6.01
	“Business Day”
	 	13.07
	“Change of Control Offer”
	 	4.16(a)
	“Change of Control Payment Date”
	 	4.16(b)
	“Change of Control Purchase Price”
	 	4.16(a)
	“Covenant Defeasance”
	 	9.03
	“Custodian”
	 	6.01
	“Event of Default”
	 	6.01
	“Excess Proceeds Offer”
	 	4.13(a)
	“Excess Proceeds Payment Date”
	 	4.13(b)
	“Funding Guarantor”
	 	10.03
	“Global Notes”
	 	2.01
	“Group”
	 	1.01
	“Guarantee Payment Blockage Period”
	 	11.03(b)
	“Guarantor Representative”
	 	11.03(a)
	“Initial Blockage Period”
	 	12.03(b)
	“Initial Guarantee Blockage Period”
	 	11.03(b)
	“Institutional Investor”
	 	1.01
	“Legal Defeasance”
	 	9.02
	“Legal Holiday”
	 	13.07

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	Term 
	 	Defined in Section

	“Moody’s”
	 	1.01
	“Paying Agent”
	 	2.03
	“Payment Blockage Period”
	 	12.03(b)
	“Private Placement Legend”
	 	2.17
	“Registrar”
	 	2.03
	“Regulation S Global Note”
	 	2.01
	“Representative”
	 	12.03(a)
	“Resale Restriction Termination Date"
	 	2.16(a)
	“Rule 144A Global Note”
	 	2.01
	“S&P”
	 	1.01
	“Transaction Date”
	 	1.01

Section 1.03. Incorporation by Reference of Trust Indenture Act.

          Whenever this Indenture refers to a provision of the TIA, the portion of
such provision required to be incorporated herein in order for this Indenture
to be qualified under the TIA is incorporated by reference in and made a part
of this Indenture. The following TIA terms used in this Indenture have the
following meanings:

          “indenture securities” means the Notes.

          “indenture securityholder” means a Holder.

          “indenture to be qualified” means this Indenture.

          “indenture trustee” or “institutional trustee” means the Trustee.

          “obligor on the indenture securities” means the Company, the Guarantors or
any other obligor on the Notes.

          All other terms used in this Indenture that are defined by the TIA,
defined in the TIA by reference to another statute or defined by Commission
rule have the meanings therein assigned to them.

Section 1.04. Rules of Construction.

     Unless the context otherwise requires:

     (1) a term has the meaning assigned to it herein, whether defined
expressly or by reference;

     (2) an accounting term not otherwise defined has the meaning
assigned to it in accordance with GAAP;

     (3) “or” is not exclusive;

     (4) words in the singular include the plural, and in the plural
include the singular; and

     (5) words used herein implying any gender shall apply to every
gender.

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ARTICLE 2

THE NOTES

Section 2.01. Form and Dating.

          The Initial Notes and the Trustee’s certificate of authentication shall be
substantially in the form of Exhibit A hereto. The Exchange Notes and the
Trustee’s certificate of authentication shall be substantially in the form of
Exhibit B hereto. The Notes may have notations, legends or endorsements
required by law, stock exchange rule or Depository rule or usage. The form of
the Notes and any notation, legend or endorsement on them shall be satisfactory
to both the Company and the Trustee. Each Note shall be dated the date of its
issuance and shall show the date of its authentication.

          The terms and provisions contained in the Notes, annexed hereto as
Exhibits A and B, shall constitute, and are hereby expressly made, a part of
this Indenture and, to the extent applicable, the Company and the Trustee, by
their execution and delivery of this Indenture, expressly agree to such terms
and provisions and to be bound thereby.

          The Notes shall be issued initially in the form of one or more permanent
global Notes (the “Global Notes”). Notes offered and sold (i) in reliance on
Rule 144A shall be issued initially in the form of one or more permanent Global
Notes in registered form, substantially in the form set forth in Exhibit A (the
“Rule 144A Global Note”), and (ii) in offshore transactions in reliance on
Regulation S shall be issued initially in the form of one or more permanent
global Notes in registered form, substantially in the form set forth in Exhibit
A (the “Regulation S Global Note”), and in each case shall be deposited with
the Trustee, as custodian for the Depository, duly executed by the Company and
authenticated by the Trustee as hereinafter provided. The aggregate principal
amount of any Global Note may from time to time be increased or decreased by
adjustments made on the records of the Trustee, as custodian for the
Depository, as hereinafter provided.

Section 2.02. Execution and Authentication.

          The Notes shall be executed on behalf of the Company by two Officers of
the Company or an Officer and the Secretary of the Company. Such signature may
be either manual or facsimile. The Company’s seal may be impressed, affixed,
imprinted or reproduced on the Notes and may be in facsimile form.

          If an Officer whose signature is on a Note no longer holds that office at
the time the Trustee authenticates the Note, the Note shall be valid
nevertheless.

          A Note shall not be valid until an authorized signatory of the Trustee
pigns the certificate of authentication on the Note. Such signature may be
either manual or facsimile. Such signature shall be conclusive evidence that
the Note has been authenticated under this Indenture.

          The Trustee or an authentication agent (the “Authenticating Agent”) shall
authenticate (i) Initial Notes for original issue from time to time in an
aggregate principal amount not to exceed the aggregate principal amount of the
Existing Notes (plus accrued interest and any fees owing in respect thereof)
exchanged for Initial Notes hereunder, (ii) Exchange Notes from time to time
for issue only in exchange for a like principal amount of Initial Notes and
(iii) Subsequent Notes issued hereunder, in each case upon written orders of
the Company in the form of an Officers’ Certificate. The aggregate principal
amount of Notes outstanding at any time may not exceed the aggregate amount
issued pursuant to

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clauses (i) and (iii) of the preceding sentence except as provided in
Section 2.07. The Officers’ Certificate shall specify the amount of Notes to
be authenticated, the date on which the Notes are to be authenticated and the
aggregate principal amount of Notes outstanding on the date of authentication,
whether the Notes are to be Initial Notes, Exchange Notes or Subsequent Notes,
and shall further specify the amount of such Notes to be issued as the Global
Note or Certificated Notes.

          Notwithstanding the foregoing, all Notes issued under this Indenture shall
vote and consent together on all matters (as to which any of such Notes may
vote or consent) as one class and no series of Notes will have the right to
vote or consent as a separate class on any matter.

          The Trustee may appoint an Authenticating Agent to authenticate Notes.
Any such appointment shall be evidenced by an instrument signed by a Trust
Officer, a copy of which shall be furnished to the Company. An Authenticating
Agent may authenticate Notes whenever the Trustee may do so. Each reference in
this Indenture to authentication by the Trustee includes authentication by such
Authenticating Agent. An Authenticating Agent has the same right as an Agent
to deal with the Company and Affiliates of the Company.

          The Notes shall be issuable only in registered form without coupons and
only in denominations of $1.00 and integral multiples thereof.

Section 2.03. Registrar and Paying Agent.

          The Company shall maintain an office or agency where Notes may be
presented for registration of transfer or for exchange (“Registrar”), an office
or agency located in the Borough of Manhattan, City of New York, State of New
York where Notes may be presented for payment (“Paying Agent”) and an office or
agency where notices and demands to or upon the Company in respect of the Notes
and this Indenture may be served. The Registrar shall keep a register of the
Notes and of their transfer and exchange. The Registrar shall provide the
Company a current copy of such register from time to time upon request of the
Company. The Company may have one or more co-Registrars and one or more
additional Paying Agents. Neither the Company nor any Affiliate of the Company
may act as Paying Agent. The Company may change any Paying Agent, Registrar or
co-Registrar without notice to any Holder.

          The Company shall enter into an appropriate agency agreement with any
Agent not a party to this Indenture. The agreement shall implement the
provisions of this Indenture that relate to such Agent. The Company shall
notify the Trustee of the name and address of any such Agent. If the Company
fails to maintain a Registrar or Paying Agent, or agent for service of notices
and demands, or fails to give the foregoing notice, the Trustee shall act as
such. The Company initially appoints the Trustee as Registrar, Paying Agent
and agent for service of notices and demands in connection with the Notes.

Section 2.04. Paying Agent to Hold Assets in Trust.

          The Company shall require each Paying Agent other than the Trustee to
agree in writing that each Paying Agent shall hold in trust for the benefit of
the Holders or the Trustee all assets held by the Paying Agent for the payment
of principal of, premium, if any, or interest on Notes (whether such assets
have been distributed to it by the Company or any other obligor on the Notes),
and shall notify the Trustee in writing of any Default in making any such
payment. The Company at any time may require a Paying Agent to distribute all
assets held by it to the Trustee and account for any assets disbursed and the
Trustee may at any time during the continuance of any Payment Default, upon
written request to a Paying Agent, require such Paying Agent to forthwith
distribute to the Trustee all assets so held in trust by such Paying Agent
together with a complete accounting of such sums. Upon distribution to the
Trustee of all

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assets that shall have been delivered by the Company to the Paying Agent,
the Paying Agent shall have no further liability for such assets.

Section 2.05. Noteholder Lists.

          The Trustee shall preserve in as current a form as is reasonably
practicable the most recent list available to it of the names and addresses of
Holders. If the Trustee is not the Registrar, the Company shall furnish or
cause the Registrar to furnish to the Trustee at least five Business Days
before each Interest Payment Date, and at such other times as the Trustee may
request in writing, a list in such form and as of such date as the Trustee may
reasonably require of the names and addresses of Holders which list may be
conclusively relied on by the Trustee.

Section 2.06. Transfer and Exchange.

          Subject to the provisions of Sections 2.15 and 2.16, when Notes are
presented to the Registrar or a co-Registrar with a request to register the
transfer of such Notes or to exchange such Notes for an equal principal amount
of Notes of other authorized denominations of the same series, the Registrar or
co-Registrar shall register the transfer or make the exchange as requested if
its requirements for such transaction are met; provided, however, that the
Notes presented or surrendered for registration of transfer or exchange shall
be duly endorsed or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Registrar or co-Registrar, duly executed by
the Holder thereof or his attorney duly authorized in writing. To permit
registrations of transfer and exchanges, the Company shall execute and the
Trustee shall authenticate Notes at the Registrar’s or co-Registrar’s request.
No service charge shall be made for any registration of transfer or exchange,
but the Company may require payment of a sum sufficient to cover any transfer
tax or similar governmental charge in connection therewith payable by the
transferor of such Notes (other than any such transfer taxes or similar
governmental charge payable upon exchanges or transfers pursuant to Section
2.10, 3.06, 4.13, 4.16 or 9.06, in which event the Company shall be responsible
for the payment of such taxes).

          The Registrar or co-Registrar shall not be required to register the
transfer of or exchange of any Note (i) during a period beginning at the
opening of business 15 days before the mailing of a notice of redemption of
Notes and ending at the close of business on the day of such mailing and (ii)
selected for redemption in whole or in part pursuant to Article 3, except the
unredeemed portion of any Note being redeemed in part.

          Any Holder of a Global Note shall, by acceptance of such Global Note,
agree that transfers of beneficial interests in such Global Notes may be
effected only through a book entry system maintained by the Holder of such
Global Note (or its agent), and that ownership of a beneficial interest in the
Note shall be required to be reflected in a book entry.

Section 2.07. Replacement Notes.

          If a mutilated Note is surrendered to the Trustee or if the Holder
presents evidence to the satisfaction of the Company and the Trustee that the
Note has been lost, destroyed or wrongfully taken, the Company shall issue and
the Trustee shall authenticate a replacement Note. An indemnity bond may be
required by the Company or the Trustee that is sufficient in the judgment of
the Company and the Trustee to protect the Company, the Trustee or any Agent
from any loss which any of them may suffer if a Note is replaced. In every
case of destruction, loss or theft, the applicant shall also furnish to the
Company and to the Trustee evidence to their satisfaction of the destruction,
loss or the theft of such Note and the ownership thereof. Each of the Company
and the Trustee may charge for its expenses in replacing a

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Note. In the event any such mutilated, lost, destroyed or wrongfully
taken Note has become due and payable, the Company in their discretion may pay
such Note instead of issuing a new Note in replacement thereof. The provisions
of this Section 2.07 are exclusive and shall preclude (to the extent lawful)
all other rights and remedies with respect to replacement or payment of
mutilated, lost, destroyed or wrongfully taken Notes.

          Every replacement Note is an additional obligation of the Company.

Section 2.08. Outstanding Notes.

          Notes outstanding at any time are all Notes authenticated by the Trustee
except for those cancelled by it, those delivered to it for cancellation, and
those described in this Section 2.08 as not outstanding.

          If a Note is replaced pursuant to Section 2.07 (other than a mutilated
Note surrendered for replacement), it ceases to be outstanding until the
Company and the Trustee receive proof satisfactory to each of them that the
replaced Note is held by a protected purchaser. A mutilated Note ceases to be
outstanding upon surrender of such Note and replacement thereof pursuant to
Section 2.07.

          If on a Redemption Date or the Maturity Date, the Paying Agent holds U.S.
legal tender sufficient to pay all of the principal and interest due on the
Notes payable on that date and is not prohibited from paying such money to the
Holders thereof pursuant to the terms of this Indenture, then on and after that
date such Notes cease to be outstanding and interest on them ceases to accrue.

Section 2.09. Treasury Notes.

          In determining whether the Holders of the required principal amount of
Notes have concurred in any direction, waiver, consent or notice, Notes owned
by the Company or any of its Affiliates shall be considered as though they are
not outstanding, except that for the purposes of determining whether the
Trustee shall be protected in relying on any such direction, waiver or consent,
only Notes which a Trust Officer of the Trustee actually knows are so owned
shall be so considered. The Company shall notify the Trustee, in writing, when
it or any of its Affiliates repurchases or otherwise acquires Notes, of the
aggregate principal amount of such Notes so repurchased or otherwise acquired.

Section 2.10. Temporary Notes.

          Until definitive Notes are ready for delivery, the Company may prepare and
the Trustee shall authenticate temporary Notes upon receipt of a written order
of the Company in the form of an Officers’ Certificate. The Officers’
Certificate shall specify the amount of temporary Notes to be authenticated and
the date on which the temporary Notes are to be authenticated. Temporary Notes
shall be substantially in the form of definitive Notes but may have variations
that the Company considers appropriate for temporary Notes. Without
unreasonable delay, the Company shall prepare and the Trustee shall
authenticate upon receipt of a written order of the Company pursuant to Section
2.02 definitive Notes in exchange for temporary Notes.

Section 2.11. Cancellation.

          The Company at any time may deliver Notes to the Trustee for cancellation.
The Registrar and the Paying Agent shall forward to the Trustee any Notes
surrendered to them for registration of transfer, exchange or payment. The
Trustee, or at the direction of the Trustee, the Registrar or the Paying

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Agent, and no one else, shall cancel and, at the written direction of the
Company, dispose of and deliver evidence of such disposal of all Notes
surrendered for registration of transfer, exchange, payment or cancellation.
Subject to Section 2.07, the Company may not issue new Notes to replace Notes
that it has paid or delivered to the Trustee for cancellation. If the Company
shall acquire any of the Notes, such acquisition shall not operate as a
redemption or satisfaction of the Indebtedness represented by such Notes unless
and until the same are surrendered to the Trustee for cancellation pursuant to
this Section 2.11.

Section 2.12. Defaulted Interest.

          The Company shall pay interest on overdue principal (including
post-petition interest in a proceeding under Bankruptcy Law) at the rate of
interest then borne by the Notes. The Company shall, to the extent lawful, pay
interest on overdue installments of interest (without regard to any applicable
grace periods) at the rate of interest then borne by the Notes.

          If the Company defaults in a payment of interest on the Notes, it shall
pay the defaulted interest, plus (to the extent lawful) any interest payable on
the defaulted interest to the Persons who are Holders on a subsequent special
record date, which date shall be the fifteenth day next preceding the date
fixed by the Company for the payment of defaulted interest or the next
succeeding Business Day if such date is not a Business Day. At least 15 days
before the subsequent special record date, the Company shall mail to each
Holder, as of a recent date selected by the Company, with a copy to the
Trustee, a notice that states the subsequent special record date, the payment
date and the amount of defaulted interest, and interest payable on such
defaulted interest, if any, to be paid.

          Notwithstanding the foregoing, any interest which is paid prior to the
expiration of the 30-day period set forth in Section 6.01(b) shall be paid to
Holders as of the Record Date for the Interest Payment Date for which interest
has not been paid.

Section 2.13. Deposit of Moneys.

          Prior to 10:00 a.m., New York City time, on each Interest Payment Date,
Redemption Date, Change of Control Payment Date, Excess Proceeds Payment Date
and Maturity Date, the Company shall have deposited with the Paying Agent in
immediately available funds U.S. legal tender sufficient to make payments, if
any, due on such Interest Payment Date, Redemption Date, Change of Control
Payment Date, Excess Proceeds Payment Date or Maturity Date, as the case may
be, in a timely manner which permits the Trustee to remit payment to the
Holders on such Interest Payment Date, Redemption Date, Change of Control
Payment Date, Excess Proceeds Payment Date or Maturity Date, as the case may
be. The principal and interest on Global Notes shall be payable to the
Depository or its nominee, as the case may be, as the sole registered owner and
the sole Holder of the Global Notes represented thereby. The principal and
interest on Notes in certificated form shall be payable at the office of the
Paying Agent.

Section 2.14. CUSIP Number.

          The Company in issuing the Notes may use one or more “CUSIP” numbers, and
if so, the Trustee shall use such CUSIP numbers in notices of redemption or
exchange as a convenience to Holders; provided that any such notice may state
that no representation is made as to the correctness or accuracy of the CUSIP
numbers printed in the notice or on the Notes, and that reliance may be placed
only on the other identification numbers printed on the Notes. The Company
shall promptly notify the Trustee of any change in the CUSIP number.

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Section 2.15. Book-Entry Provisions for Global Notes.

          (a) The Global Notes initially shall (i) be registered in the name of the
Depository or the nominee of such Depository, (ii) be delivered to the Trustee
as custodian for such Depository and (iii) bear legends as set forth in Section
2.17.

          Members of, or participants in, the Depository (“Agent Members”) shall
have no rights under this Indenture with respect to any Global Note held on
their behalf by the Depository or under the Global Note, and the Depository may
be treated by the Company, the Trustee and any agent of the Company or the
Trustee as the absolute owner of the Global Note for all purposes whatsoever.
Notwithstanding the foregoing, nothing herein shall prevent the Company, the
Trustee or any agent of the Company or the Trustee from giving effect to any
written certification, proxy or other authorization furnished by the Depository
or impair, as between the Depository and its Agent Members, the operation of
customary practices governing the exercise of the rights of a Holder.

          (b) Interests of beneficial owners in the Global Notes may be transferred
or exchanged for Certificated Notes in accordance with the rules and procedures
of the Depository and the provisions of Section 2.16. In addition,
Certificated Notes shall be transferred to all beneficial owners in exchange
for their beneficial interests in Global Notes if (i) the Depository (x)
notifies the Company that it is unwilling or unable to continue as Depository
for any Global Note or (y) has ceased to be a clearing company registered under
the Exchange Act and, in each case, a successor Depository is not appointed by
the Company within 90 days of such notice or (ii) a Default or an Event of
Default has occurred and is continuing and the Registrar has received a written
request from the Depository to issue Certificated Notes.

          (c) In connection with the transfer of Global Notes as an entirety to
beneficial owners pursuant to paragraph (b), the Global Notes shall be deemed
to be surrendered to the Trustee for cancellation, and the Company shall
execute, and the Trustee shall, upon receipt of an authentication order from
the Company in the form of an Officers’ Certificate, authenticate and deliver,
to each beneficial owner identified by the Depository in writing in exchange
for its beneficial interest in the Global Notes, an equal aggregate principal
amount of Certificated Notes of authorized denominations.

          (d) Any Certificated Note constituting a Restricted Security delivered in
exchange for an interest in a Global Note pursuant to paragraph (b) or (c)
shall, except as otherwise provided by Section 2.16, bear the Private Placement
Legend.

          The Holder of any Global Note may grant proxies and otherwise authorize
any Person, including Agent Members and Persons that may hold interests through
Agent Members, to take any action which a Holder is entitled to take under this
Indenture or the Notes.

Section 2.16. Registration of Transfers and Exchanges.

          (a) Transfer and Exchange of Certificated Notes. When Certificated Notes
are presented to the Registrar or co-Registrar with a request:

     (i) to register the transfer of the Certificated Notes; or

     (ii) to exchange such Certificated Notes for an equal principal
amount of Certificated Notes of other authorized denominations,

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the Registrar or co-Registrar shall register the transfer or make the exchange
as requested if the requirements under this Indenture as set forth in this
Section 2.16 for such transactions are met; provided, however, that the
Certificated Notes presented or surrendered for registration of transfer or
exchange:

     (I) shall be duly endorsed or accompanied by a written instrument of
transfer in form satisfactory to the Registrar or co-Registrar, duly
executed by the Holder thereof or his attorney duly authorized in
writing; and

     (II) in the case of Certificated Notes the offer and sale of which
have not been registered under the Securities Act and are presented for
transfer or exchange prior to (x) the date which is two years after the
later of the date of original issue and the last date on which the
Company or any Affiliate of the Company was the owner of such Note, or
any predecessor thereto and (y) such later date, if any, as may be
required by any subsequent change in applicable law (the “Resale
Restriction Termination Date”), such Certificated Notes shall be
accompanied, in the sole discretion of the Company, by the following
additional information and documents, as applicable:

     (A) if such Certificated Note is being delivered to the
Registrar or co-Registrar by a Holder for registration in the name
of such Holder, without transfer, a certification to that effect
(substantially in the form of Exhibit C hereto); or

     (B) if such Certificated Note is being transferred to a
Qualified Institutional Buyer in accordance with Rule 144A, a
certification to that effect (substantially in the form of Exhibit
C hereto); or

     (C) if such Certificated Note is being transferred in reliance
on Regulation S, delivery of a certification to that effect
(substantially in the form of Exhibit C hereto) and a transferor
certificate for Regulation S transfers substantially in the form of
Exhibit E hereto; or

     (D) if such Certificated Note is being transferred to an
Institutional Accredited Investor, delivery of certification to
that effect (substantially in the form of Exhibit C hereto), a
transferee letter of representation in substantially the form of
Exhibit D hereto and, at the option of the Company, an Opinion of
Counsel reasonably satisfactory to the Company to the effect that
such transfer is in compliance with the Securities Act; or

     (E) if such Certificated Note is being transferred in reliance
on Rule 144 under the Securities Act, delivery of a certification
to that effect substantially in the form of Exhibit C hereto and,
at the option of the Company, an Opinion of Counsel reasonably
satisfactory to the Company to the effect that such transfer is in
compliance with the Securities Act; or

     (F) if such Certificated Note is being transferred in reliance
on another exemption from the registration requirements of the
Securities Act, a certification to that effect (substantially in
the form of Exhibit C hereto) and, at the option of the Company, an
Opinion of Counsel reasonably satisfactory to the Company to the
effect that such transfer is in compliance with the Securities Act.

          (b) Restrictions on Transfer of a Certificated Note for a Beneficial
Interest in a Global Note. A Certificated Note may not be exchanged for a
beneficial interest in a Global Note except upon satisfaction of the
requirements set forth below. Upon receipt by the Registrar or co-Registrar of
a

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Certificated Note, duly endorsed or accompanied by appropriate instruments
of transfer, in form satisfactory to the Registrar or co-Registrar, together
with:

     (A) in the case of Certificated Notes, the offer and sale of which
have not been registered under the Securities Act and which are presented
for transfer prior to the Resale Restriction Termination Date,
certification, substantially in the form of Exhibit C hereto, that such
Certificated Note is being transferred (I) to a Qualified Institutional
Buyer, (II) an Institutional Accredited Investor (and, in the case of
this clause (II), the Company shall have received a transferee letter of
representation substantially in the form of Exhibit D hereto and, at the
option of the Company, an Opinion of Counsel reasonably satisfactory to
the Company to the effect that such transaction is in compliance with the
Securities Act) or (III) in an offshore transaction in reliance on
Regulation S (and, in the case of this clause III, the Company shall have
received a transferor certificate for Regulation S transfers
substantially in the form of Exhibit E hereto and, at the option of the
Company, an Opinion of Counsel reasonably satisfactory to the Company to
the effect that such transaction is in compliance with the Securities
Act); and

     (B) written instructions from the Holder thereof directing the
Registrar or co-Registrar to make, or to direct the Depository to make,
an endorsement on the applicable Global Note to reflect an increase in
the aggregate amount of the Notes represented by the Global Note,

then the Registrar or co-Registrar shall cancel such Certificated Note and
cause, or direct the Depository to cause, in accordance with the standing
instructions and procedures existing between the Depository and the Registrar
or co-Registrar, the principal amount of Notes represented by the applicable
Global Note to be increased accordingly. If no Global Note representing Notes
held by Qualified Institutional Buyers or Persons acquiring Notes in offshore
transactions in reliance on Regulation S, as the case may be, is then
outstanding, the Company shall issue and the Trustee shall, upon receipt of an
authentication order in the form of an Officers’ Certificate in accordance with
Section 2.02, authenticate such a Global Note in the appropriate principal
amount.

          (c) Transfer and Exchange of Global Notes. The transfer and exchange of
Global Notes or beneficial interests therein shall be effected through the
Depository in accordance with this Indenture (including the restrictions on
transfer set forth herein) and the procedures of the Depository therefor. Upon
receipt by the Registrar or co-Registrar of written instructions, or such other
instruction as is customary for the Depository, from the Depository or its
nominee, requesting the registration of transfer of an interest in a U.S.
Global Note or Regulation S Global Note, as the case may be, to another type of
Global Note, together with the applicable Global Notes (or, if the applicable
type of Global Note required to represent the interest as requested to be
transferred is not then outstanding, only the Global Note representing the
interest being transferred), the Registrar or Co-Registrar shall cancel such
Global Notes (or Global Note) and the Company shall issue and the Trustee
shall, upon receipt of an authentication order in the form of an Officers’
Certificate in accordance with Section 2.02, authenticate new Global Notes of
the types so cancelled (or the type so cancelled and applicable type required
to represent the interest as requested to be transferred) reflecting the
applicable increase and decrease of the principal amount of Notes represented
by such types of Global Notes, giving effect to such transfer. If the
applicable type of Global Note required to represent the interest as requested
to be transferred is not outstanding at the time of such request, the Company
shall issue and the Trustee shall, upon written instructions from the Company
in accordance with Section 2.02, authenticate a new Global Note of such type in
principal amount equal to the principal amount of the interest requested to be
transferred.

          (d) Transfer of a Beneficial Interest in a Global Note for a Certificated
Note. (i) Any Person having a beneficial interest in a Global Note may upon
request exchange such beneficial

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interest for a Certificated Note. Upon receipt by the Registrar or
co-Registrar of written instructions, or such other form of instructions as is
customary for the Depository, from the Depository or its nominee on behalf of
any Person having a beneficial interest in a Global Note and upon receipt by
the Trustee of a written order or such other form of instructions as is
customary for the Depository or the Person designated by the Depository as
having such a beneficial interest containing registration instructions and, in
the case of any such transfer or exchange of a beneficial interest in Notes the
offer and sale of which have not been registered under the Securities Act and
which Notes are presented for transfer or exchange prior to the Resale
Restriction Termination Date, the following additional information and
documents:

     (A) if such beneficial interest is being transferred to the Person
designated by the Depository as being the beneficial owner, a
certification from such Person to that effect (substantially in the form
of Exhibit C hereto); or

     (B) if such beneficial interest is being transferred to a Qualified
Institutional Buyer in accordance with Rule 144A, a certification to that
effect (substantially in the form of Exhibit C hereto); or

     (C) if such beneficial interest is being transferred in reliance on
Regulation S, delivery of a certification to that effect (substantially
in the form of Exhibit C hereto) and a transferor certificate for
Regulation S transfers substantially in the form of Exhibit E hereto; or

     (D) if such beneficial interest is being transferred to an
Institutional Accredited Investor, delivery of certification
(substantially in the form of Exhibit C hereto), a transferee letter of
representation in substantially the form of Exhibit D hereto and, at the
option of the Company, an Opinion of Counsel reasonably satisfactory to
the Company to the effect that such transfer is in compliance with the
Securities Act; or

     (E) if such beneficial interest is being transferred in reliance on
Rule 144 under the Securities Act, delivery of a certification to that
effect (substantially in the form of Exhibit C hereto); or

     (F) if such beneficial interest is being transferred in reliance on
another exemption from the registration requirements of the Securities
Act, a certification to that effect (substantially in the form of Exhibit
C hereto) and, at the option of the Company, an Opinion of Counsel
reasonably satisfactory to the Company to the effect that such transfer
is in compliance with the Securities Act,

then the Registrar or co-Registrar will cause, in accordance with the standing
instructions and procedures existing between the Depository and the Registrar
or co-Registrar, the aggregate principal amount of the applicable Global Note
to be reduced and, following such reduction, the Company will execute and, upon
receipt of an authentication order in the form of an Officers’ Certificate in
accordance with Section 2.02, the Trustee will authenticate and deliver to the
transferee a Certificated Note in the appropriate principal amount.

          (ii) Certificated Notes issued in exchange for a beneficial interest in a
Global Note pursuant to this Section 2.16(d) shall be registered in such names
and in such authorized denominations as the Depository, pursuant to
instructions from its direct or indirect participants or otherwise, shall
instruct the Registrar or co-Registrar in writing. The Registrar or
co-Registrar shall deliver such Certificated Notes to the Persons in whose
names such Certificated Notes are so registered.

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          (e) Restrictions on Transfer and Exchange of Global Notes.
Notwithstanding any other provisions of this Indenture, a Global Note may not
be transferred as a whole except by the Depository to a nominee of the
Depository or by a nominee of the Depository to the Depository or another
nominee of the Depository or by the Depository or any such nominee to a
successor Depository or a nominee of such successor Depository.

          (f) Private Placement Legend. Upon the transfer, exchange or replacement
of Notes not bearing the Private Placement Legend, the Registrar or
co-Registrar shall deliver Notes that do not bear the Private Placement Legend.
Upon the transfer, exchange or replacement of Notes bearing the Private
Placement Legend, the Registrar or co-Registrar shall deliver only Notes that
bear the Private Placement Legend unless, and the Trustee is hereby authorized
to deliver Notes without the Private Placement Legend if (i) the Resale
Restriction Termination Date shall have occurred, (ii) there is delivered to
the Trustee an Opinion of Counsel reasonably satisfactory to the Company and
the Trustee to the effect that neither such legend nor the related restrictions
on transfer are required in order to maintain compliance with the provisions of
the Securities Act or (iii) such Note has been sold pursuant to an effective
registration statement under the Securities Act.

          (g) General. By its acceptance of any Note bearing the Private Placement
Legend, each Holder of such a Note acknowledges the restrictions on transfer of
such Note set forth in this Indenture and in the Private Placement Legend and
agrees that it will transfer such Note only as provided in this Indenture.

          The Trustee shall have no obligation or duty to monitor, determine or
inquire as to compliance with any restrictions on transfer imposed under this
Indenture or under applicable law with respect to any transfer of any interest
in any Note (including any transfers between or among Agent Members or
beneficial owners of interest in any Global Note) other than to require
delivery of such certificates and other documentation or evidence as are
expressly required by, and to do so if and when expressly required by the terms
of, this Indenture, and to examine the same to determine substantial compliance
as to form with the express requirements hereof.

          The Registrar shall retain copies of all letters, notices and other
written communications received pursuant to Section 2.15 or this Section 2.16.
The Company shall have the right to inspect and make copies of all such
letters, notices or other written communications at any reasonable time upon
the giving of reasonable written notice to the Registrar.

Section 2.17. Restrictive Legends.

          Each Global Note and Certificated Note that constitutes a Restricted
Security shall bear the following legend (the “Private Placement Legend”) on
the face thereof until the second anniversary of the issuance thereof, unless
otherwise agreed to by the Company and the Holder thereof:

     THIS NOTE HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR
THE ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT AS SET FORTH BELOW.
BY ITS ACQUISITION HEREOF, THE HOLDER (1) AGREES THAT IT WILL
NOT, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”)
THAT IS TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUANCE OF THIS

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NOTE AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE
OF THE COMPANY WAS THE OWNER OF THIS NOTE (OR ANY PREDECESSOR OF
THIS NOTE), RESELL OR OTHERWISE TRANSFER THIS NOTE EXCEPT (A) TO
THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) INSIDE THE UNITED
STATES TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE
144A UNDER THE SECURITIES ACT, (C) INSIDE THE UNITED STATES TO AN
INSTITUTIONAL ACCREDITED INVESTOR WITHIN THE MEANING OF
SUBPARAGRAPH 501(a)(1), (2), (3) or (7) UNDER THE SECURITIES ACT
THAT, PRIOR TO SUCH TRANSFER, FURNISHES (OR HAS FURNISHED ON ITS
BEHALF BY A U.S. BROKER-DEALER) TO THE TRUSTEE A SIGNED LETTER
CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE
RESTRICTIONS ON TRANSFER OF THIS NOTE (THE FORM OF WHICH LETTER
CAN BE OBTAINED FROM THE TRUSTEE FOR THIS NOTE), (D) OUTSIDE THE
UNITED STATES IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE
904 UNDER THE SECURITIES ACT, (E) PURSUANT TO ANY OTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE SECURITIES ACT AND (2) WILL GIVE TO EACH PERSON TO WHOM THIS
NOTE IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS
LEGEND. IN CONNECTION WITH ANY TRANSFER OF THIS NOTE PRIOR TO THE
RESALE RESTRICTION TERMINATION DATE, IF THE PROPOSED TRANSFER IS
BEING MADE PURSUANT TO CLAUSE (C) OR (E) ABOVE, PRIOR TO SUCH
TRANSFER, THE HOLDER WILL BE REQUIRED TO FURNISH TO THE TRUSTEE
AND THE COMPANY SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER
INFORMATION AS EITHER OF THEM MAY REASONABLY REQUIRE TO CONFIRM
THAT SUCH TRANSFER IS BEING MADE PURSUANT TO AN EXEMPTION FROM, OR
IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS
GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT.

	 	 	 	Each Global Note shall also bear the following legend:

     THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR
A NOMINEE OF A DEPOSITORY OR A SUCCESSOR DEPOSITORY. THIS NOTE IS NOT
EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE
DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF
THIS NOTE AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR
BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR

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ANOTHER NOMINEE OF THE DEPOSITORY) MAY BE REGISTERED EXCEPT IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT
IN PART, AND TRANSFERS OF INTERESTS IN THIS GLOBAL NOTE SHALL BE LIMITED TO
TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN SECTION 2.16 OF
THE INDENTURE.

Section 2.18. U.S. Tax Legend.

	 	 	 	Each Note issued on the Issue Date shall bear the following
legend:
	 
	 	 	 	THIS NOTE IS ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR PURPOSES OF
SECTION 1271 ET SEQ. OF THE INTERNAL REVENUE CODE. THE ISSUE DATE
OF THIS NOTE IS MAY 21, 2004 AND THE YIELD TO MATURITY IS 13.262%,
COMPOUNDED SEMI-ANNUALLY. FOR EACH $1,000 PRINCIPAL AMOUNT AT
MATURITY OF THIS NOTE, THE ISSUE PRICE IS $1,000 AND THE TOTAL
ORIGINAL ISSUE DISCOUNT OVER THE TERM OF THIS NOTE IS $366.84.

ARTICLE 3

REDEMPTION

Section 3.01. Notices to Trustee.

          If the Company elects to redeem Notes pursuant to paragraph 7 of the
Notes, at least 60 days prior to the Redemption Date or during such other
period as the Trustee may agree to, the Company shall notify the Trustee in
writing of the Redemption Date, the principal amount of Notes to be redeemed
and the Redemption Price, and deliver to the Trustee an Officers’ Certificate
stating that such redemption will comply with the conditions contained herein
and in the Notes, as appropriate.

Section 3.02. Selection of Notes to Be Redeemed.

          In the event that less than all of the Notes are to be redeemed at any
time, selection of the Notes to be redeemed shall be made by the Trustee in
compliance with the requirements of the principal securities exchange, if any,
on which such Notes are listed or, if such Notes are not then listed on a
national securities exchange, on a pro rata basis, by lot or by such method as
the Trustee shall deem fair and appropriate; provided, however, that no Notes
of a principal amount of $1,000 or less shall be redeemed in part. A new Note
in a principal amount equal to the unredeemed portion thereof will be issued in
the name of the Holder thereof upon delivery of the original Note to the Paying
Agent and cancellation of the original Note. On and after the Redemption Date,
interest will cease to accrue on Notes or portions thereof called for
redemption as long as the Company has deposited with the Paying Agents in U.S.
legal tender in satisfaction of the applicable Redemption Price pursuant to
this Indenture.

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Section 3.03. Notice of Redemption.

          Notice of redemption shall be mailed by first class mail at least 30 but
not more than 60 calendar days before the Redemption Date to each Holder to be
redeemed at its registered address. If any Note is to be redeemed in part
only, the notice of redemption that relates to such Note shall state the
portion of the principal amount thereof to be redeemed.

          The notice shall identify the Notes to be redeemed (including the CUSIP
number(s) thereof) and shall state:

     (1) the Redemption Date;

     (2) the Redemption Price and the amount of accrued interest, if any,
to be paid;

     (3) that, if any Note is being redeemed in part, the portion of the
principal amount (equal to $1,000 in principal amount or any integral
multiple thereof) of such Note to be redeemed and that, on and after the
Redemption Date, upon surrender of such Note, a new Note or Notes in
principal amount equal to the unredeemed portion thereof will be issued;

     (4) the name, address and telephone number of the Paying Agent;

     (5) that Notes called for redemption must be surrendered to the
Paying Agent at the address specified to collect the Redemption Price
plus accrued interest, if any;

     (6) that, unless the Company defaults in making the redemption
payment, interest on Notes called for redemption ceases to accrue on and
after the Redemption Date and the only remaining right of the Holders is
to receive payment of the Redemption Price plus accrued interest to the
Redemption Date upon surrender of the Notes to the Paying Agent;

     (7) the subparagraph of the Notes pursuant to which the Notes called
for redemption are being redeemed; and

     (8) if fewer than all the Notes are to be redeemed, the
identification of the particular Notes (or portion thereof) to be
redeemed, as well as the aggregate principal amount of Notes to be
redeemed and the aggregate principal amount of Notes to be outstanding
after such partial redemption.

Section 3.04. Effect of Notice of Redemption.

          Once the notice of redemption described in Section 3.03 is mailed, Notes
called for redemption become due and payable on the Redemption Date and at the
pedemption Price, including any premium, plus accrued interest to the
Redemption Date, if any. Upon surrender to the Paying Agent, such Notes shall
be paid at the Redemption Price, including any premium, plus accrued interest
to the Redemption Date, if any; provided that if the Redemption Date is after a
Record Date and on or prior to the Interest Payment Date, the accrued interest
shall be payable to the Holder of the redeemed Notes registered on the relevant
Record Date.

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Section 3.05. Deposit of Redemption Price.

          On or prior to 10:00 a.m., New York City time, on each Redemption Date,
the Company shall have deposited with the Paying Agent in immediately available
funds U.S. legal tender sufficient to pay the Redemption Price of and accrued
interest on all Notes to be redeemed on that date.

          On and after any Redemption Date, if U.S. legal tender sufficient to pay
the Redemption Price of and accrued interest on Notes called for redemption
shall have been made available in accordance with the preceding paragraph, the
Notes called for redemption will cease to accrue interest and the only right of
the Holders of such Notes will be to receive payment of the Redemption Price of
and, subject to the proviso in Section 3.04, accrued and unpaid interest on
such Notes to the Redemption Date. If any Note called for redemption shall not
be so paid, interest will continue to accrue and be paid, from the Redemption
Date until such redemption payment is made, on the unpaid principal of the Note
and any interest not paid on such unpaid principal, in each case, at the rate
and in the manner provided for in Section 2.12.

Section 3.06. Notes Redeemed in Part.

          Upon surrender of a Note that is redeemed in part, the Trustee shall
authenticate for a Holder a new Note equal in principal amount to the
unredeemed portion of the Note surrendered.

ARTICLE 4

COVENANTS

Section 4.01. Payment of Notes.

          The Company shall pay the principal of and interest (including all
Additional Interest as provided in the Registration Rights Agreement) on the
Notes on the dates and in the manner provided in the Notes and this Indenture.
An installment of principal or interest shall be considered paid on the date it
is due if the Trustee or Paying Agent holds, for the benefit of the Holders, on
that date U.S. legal tender designated for and sufficient to pay such
installment in full and is not prohibited from paying such money to the Holders
pursuant to the terms of this Indenture.

          The Company shall pay interest on overdue principal and interest on
overdue interest, to the extent lawful as provided for in Section 2.12.

Section 4.02. Provision of Financial Statements and Other Information.

          (a) Whether or not required by the Commission, so long as any Notes are
outstanding, the Company will furnish to the Holders, within the time periods
specified in the Commission’s rules and regulations:

     (1) all quarterly and annual financial information that would be
required to be contained in a filing with the Commission on Forms 10-Q
and 10-K if the Company were required to file such Forms, including a
“Management’s Discussion and Analysis of Financial Condition and Results
of Operations” and, with respect to the annual information only, a report
on the annual financial statements by the Company’s certified independent
accountants; and

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     (2) all current reports that would be required to be filed with the
Commission on Form 8-K if the Company were required to file such reports.

          If the Company has designated any of its Subsidiaries as Unrestricted
Subsidiaries, then the quarterly and annual financial information required by
the preceding paragraph will include a reasonably detailed presentation, either
on the face of the financial statements or in the footnotes thereto, and in
Management’s Discussion and Analysis of Financial Condition and Results of
Operations, of the financial condition and results of operations of the Company
and its Restricted Subsidiaries separate from the financial condition and
results of operations of the Unrestricted Subsidiaries of the Company.

          (b) In addition, whether or not required by the Commission, the Company
will file a copy of all of the information and reports referred to in clauses
(a)(1) and (a)(2) above with the Commission for public availability within the
time periods specified in the Commission’s rules and regulations (unless the
Commission will not accept such a filing) and make such information available
to securities analysts and prospective investors upon request. The Company
will also furnish to Holders, securities analysts and prospective investors
upon request the information required to be delivered pursuant to Rule 144 and
Rule 144A(d)(4) under the Securities Act. The Company shall also comply with
the provisions of TIA Section 314(a).

Section 4.03. Waiver of Stay, Extension or Usury Laws.

          The Company covenants (to the extent that it may lawfully do so) that it
will not at any time insist upon, or plead (as a defense or otherwise) or in
any manner whatsoever claim or take the benefit or advantage of, any stay or
extension law or any usury law or other law which would prohibit or forgive the
Company from paying all or any portion of the principal of, premium, if any,
and/or interest on the Notes as contemplated herein, wherever enacted, now or
at any time hereafter in force, or which may affect the covenants or the
performance of this Indenture; and (to the extent that they may lawfully do so)
the Company hereby expressly waives all benefit or advantage of any such law,
and covenants that it will not hinder, delay or impede the execution of any
power herein granted to the Trustee, but will suffer and permit the execution
of every such power as though no such law had been enacted.

Section 4.04. Compliance Certificate; Notice of Default; Tax Information.

          (a) The Company shall deliver to the Trustee, within 90 days after the end
of the Company’s fiscal year and within 45 days after the end of each the
first, second and third fiscal quarters in each fiscal year an Officers’
Certificate (one of the signers of which shall be the principal executive
officer, principal financial officer or principal accounting officer of each of
the Company) stating that a review of the activities of the Company and its
Subsidiaries during such fiscal year or fiscal quarter, as the case may be, has
been made under the supervision of the signing Officers with a view to
determining whether the Company has kept, observed, performed and fulfilled its
obligations under this Indenture, and further stating, as to each such Officer
signing such certificate, that to the best of his or her knowledge the Company
has kept, observed, performed and fulfilled each and every covenant contained
in this Indenture and, in the case of Restricted Payments, listing all
Restricted Payments for such fiscal year or fiscal quarter, as the case may be,
and is not in default in the performance or observance of any of the terms,
provisions and conditions hereof (or, if a Default or Event of Default shall
have occurred, describing all or such Defaults or Events of Default of which he
or she may have knowledge and what action each is taking or proposes to take
with respect thereto) and that to the best of his or her knowledge no event has
occurred and remains in existence by reason of which payments on account of the
principal of or interest, if any, on the Notes are prohibited or if such event
has occurred, a description of the event and what action the

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Company is taking or proposes to take with respect thereto. The Officers’
Certificate shall also notify the Trustee should the Company elect to change
the manner in which it fixes its fiscal year end.

          (b) The Company will, so long as any of the Notes are outstanding,
deliver to the Trustee, forthwith upon any Officer becoming aware of any
Default or Event of Default, an Officers’ Certificate specifying such Default
or Event of Default and what action the Company is taking or proposes to take
with respect thereto.

          (c) The annual financial statements delivered pursuant to Section 4.02
shall be accompanied by a written report addressed to the Trustee of the
Company’s independent accountants (who shall be a firm of established national
reputation) that in conducting their audit of such financial statements nothing
has come to their attention that would lead them to believe that a Default or
Event of Default has occurred under this Indenture insofar as they relate to
accounting matters or, if any such violation has occurred, specifying the
nature and period of existence thereof, it being understood that such
accountants shall not be liable directly or indirectly to any Person for any
failure to obtain knowledge of any such violation.

          (d) (i) If any Default or Event of Default has occurred and is continuing
or (ii) if any Holder seeks to exercise any remedy hereunder with respect to a
claimed default under this Indenture or the Notes, the Company shall deliver to
the Trustee, at its address set forth in Section 13.02 hereof, by registered or
certified mail or by telegram, telex or facsimile transmission followed by hard
copy by registered or certified mail, an Officers’ Certificate specifying such
Default or Event of Default, notice or other action, the status thereof and
what action the Company is taking or proposes to take within five Business Days
of its becoming aware of such occurrence.

          (e) The Company shall calculate and deliver to the Trustee all original
issue discount information to be reported by the Trustee to Holders as required
by applicable law.

Section 4.05. Payment of Taxes and Other Claims.

          The Company shall pay or discharge or cause to be paid or discharged,
before the same shall become delinquent, (i) all material taxes, assessments
and governmental charges (including withholding taxes and any penalties,
interest and additions to taxes) levied or imposed upon it or any of its
Subsidiaries or Properties of it or any of its Subsidiaries and (ii) all lawful
claims for labor, materials and supplies that, if unpaid, might by law become a
Lien upon the Property of it or any of its Subsidiaries; provided, however,
that the Company shall not be required to pay or discharge or cause to be paid
or discharged any such tax, assessment, charge or claim whose amount,
applicability or validity is being contested in good faith by appropriate
proceedings properly instituted and diligently conducted for which adequate
reserves, to the extent required under GAAP, have been taken.

Section 4.06. Corporate Existence.

          Subject to Article 5 hereof, the Company shall do or cause to be done all
things necessary to preserve and keep in full force and effect its corporate
existence, and the corporate, partnership or limited liability company or other
existence of each Subsidiary, in accordance with the respective organizational
documents (as the same may be amended from time to time) of each Subsidiary and
the material rights (charter and statutory), licenses and franchises of the
Company and its Subsidiaries except where the failure to preserve and keep in
full force and effect any such rights, licenses and franchise shall not have a
material adverse effect on the financial condition, business, operations or
prospects of the Company and its Subsidiaries taken as a whole; provided that
the Company shall not be required to preserve

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any such right, license or franchise, or the corporate, limited liability
company, partnership or other existence of any of its Subsidiaries, if the
Board of Directors of the Company shall determine that the preservation thereof
is no longer desirable in the conduct of the business of the Company and its
Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any
material respect to the Holders.

Section 4.07. Maintenance of Office or Agency.

          The Company shall maintain an office or agency in the Borough of
Manhattan, The City of New York where Notes may be surrendered for registration
of transfer or exchange or for presentation for payment and where notices and
demands to or upon the Company in respect of the Notes and this Indenture may
be served. The Company shall give prompt written notice to the Trustee of the
location, and any change in the location, of such office or agency. If at any
time the Company shall fail to maintain any such required office or agency or
shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the address of the
Trustee as set forth in Section 13.02.

          The Company may also from time to time designate one or more other offices
or agencies where the Notes may be presented or surrendered for any or all such
purposes and may from time to time rescind such designations. The Company
shall give prompt written notice to the Trustee of such designation or
rescission and of any change in the location of any such other office or
agency.

          The Company hereby initially designates the Corporate Trust Office of the
Trustee set forth in Section 13.02 as such office of the Company.

Section 4.08. Compliance with Laws.

          The Company shall comply, and shall cause each of its Subsidiaries to
comply, with all applicable statutes, rules, regulations, orders and
restrictions of the United States of America, all states and municipalities
thereof, and of any governmental department, commission, board, regulatory
authority, bureau, agency and instrumentality of the foregoing, in respect of
the conduct of their respective businesses and the ownership of their
respective properties, except for such noncompliances as would not in the
aggregate have a material adverse effect on the financial condition or results
of operations of the Company and its Subsidiaries taken as a whole.

Section 4.09. Maintenance of Properties and Insurance.

          (a) The Company shall cause all material Properties owned by or leased by
it or any of its Subsidiaries used or useful to the conduct of the Company’s
business or the business of any of its Subsidiaries to be maintained and kept
in normal condition, repair and working order and supplied with all necessary
equipment and shall cause to be made all necessary repairs, renewals,
replacements, betterments and improvements thereof, all as in its judgment may
be necessary, so that the business carried on in connection therewith may be
properly and advantageously conducted at all times; provided, however, that
nothing in this Section 4.09 shall prevent the Company or any of its
Subsidiaries from discontinuing the use, operation or maintenance of any of
such properties, or disposing of any of them, if such discontinuance or
disposal is, in the judgment of the Board of Directors of the Company or of the
Board of Directors of any Subsidiary of the Company concerned, or of an officer
(or other agent employed by the Company or of any of its Subsidiaries) of the
Company or any of its Subsidiaries having managerial responsibility for any
such Property, desirable in the conduct of the business of the Company or any
Subsidiary of the Company, and if such discontinuance or disposal is not
adverse in any material respect to the Holders.

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          (b) The Company shall maintain, and shall cause its respective
Subsidiaries to maintain, insurance with responsible carriers against such
risks and in such amounts, and with such deductibles, retentions, self-insured
amounts and co-insurance provisions, as are customarily carried by similar
businesses of similar size, including property and casualty loss, workers’
compensation and interruption of business insurance.

Section 4.10. Limitation on Additional Indebtedness.

          (a) The Company shall not, and shall not permit any of its Restricted
Subsidiaries to, directly or indirectly, incur (as defined) any Indebtedness
(including Acquired Indebtedness); provided that the Company or any of its
Restricted Subsidiaries may incur Indebtedness (including Acquired
Indebtedness) if after giving effect to the incurrence of such Indebtedness and
the receipt and application of the proceeds thereof, the Company’s Consolidated
Fixed Charge Coverage Ratio is at least 2:00 to 1.

          (b) Notwithstanding the foregoing, the Company and the Restricted
Subsidiaries may incur Permitted Indebtedness; provided that the Company may
not incur any Permitted Indebtedness that ranks junior in right of payment to
the Notes that has a maturity or mandatory sinking fund payment prior to the
maturity of the Notes.

          (c) Notwithstanding any other provision of this Section 4.10, in the event
that an item of Indebtedness meets the criteria of more than one of the
categories of Permitted Indebtedness or is otherwise entitled to be incurred
pursuant to this Section 4.10, the Company may, in its sole discretion,
classify (or reclassify) such item of Indebtedness in any manner that complies
with this Section 4.10 and such items of Indebtedness will be treated as having
been incurred pursuant to only one of the categories of Permitted Indebtedness
or pursuant to the first paragraph hereof. Accrual of interest or accretion of
accreted value shall not be deemed to be an incurrence of Indebtedness for
purposes of this Section 4.10.

Section 4.11. Limitation on Restricted Payments.

          (a) The Company shall not make, and shall not permit any of its Restricted
Subsidiaries to, directly or indirectly, make, any Restricted Payment, unless:

     (1) no Default or Event of Default has occurred and is continuing at
the time of or immediately after giving effect to such Restricted
Payment;

     (2) immediately after giving pro forma effect to such Restricted
Payment, the Company could incur $1.00 of additional Indebtedness (other
than Permitted Indebtedness) under Section 4.10; and

     (3) immediately after giving effect to such Restricted Payment, the
aggregate of all Restricted Payments declared or made after the Issue
Date does not exceed the sum of, without duplication:

     (A) 50% of the Company’s Cumulative Consolidated Net Income
(or minus 100% of any cumulative deficit in Consolidated Net Income
during such period);

     (B) 100% of the aggregate Net Proceeds received by the Company
from the issue or sale after the Issue Date of Capital Stock (other
than Disqualified Capital Stock or Capital Stock of the Company
issued to any Subsidiary of the Company or to an employee stock
ownership plan or other trust established by the Company or any of
its

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Subsidiaries for the benefit of their employees to the extent the
purchase by such plan or trust is financed by Indebtedness of such
plan or trust and for which the Company is liable as guarantor or
otherwise) of the Company or any Indebtedness or other securities
of the Company convertible into or exercisable or exchangeable for
Capital Stock (other than Disqualified Capital Stock) of the
Company which have been so converted, exercised or exchanged, as
the case may be;

     (C) without duplication of any amounts included in clause
(3)(B) above, 100% of the aggregate Net Proceeds received by the
Company from any equity contribution from a holder of the Company’s
Capital Stock, excluding, in the case of clauses 3(B) and (C), any
Net Proceeds used to purchase, redeem or otherwise retire Capital
Stock or Indebtedness as set forth in clause (b)(2) below; and

     (D) without duplication, the sum of

     (i) the aggregate amount returned in cash on or with
respect to an Investment (other than a Permitted Investment)
in any Person made subsequent to the Issue Date whether
through interest payments, principal payments, dividends or
other distributions;

     (ii) the net proceeds received by the Company or any of
its Restricted Subsidiaries from the disposition (other than
to the Company or a Subsidiary of the Company), retirement or
redemption of all or any portion of an Investment described
in clause (3)(D)(i); and

     (iii) upon redesignation of an Unrestricted Subsidiary
as a Restricted Subsidiary, the fair market value of the net
assets of such Subsidiary;

provided, however, that, with respect to an Investment in any
Person, the sum of clauses (i), (ii) and (iii) above with respect
to the Investment in such Person shall not exceed the aggregate
amount of all Investments made in such Person subsequent to the
Issue Date.

          For purposes of determining under clause (3) above, the amount expended
for Restricted Payments, cash distributed shall be valued at the face amount
thereof and Property other than cash shall be valued at its fair market value.

          (b) The provisions of this Section 4.11 shall not prohibit

     (1) the payment of any distribution within 60 days after the date of
declaration thereof, if at such date of declaration such payment would
comply with the provisions of this Indenture;

     (2) the repurchase, redemption, defeasance or other acquisition or
retirement of any shares of Capital Stock of the Company or Indebtedness
subordinate in right of payment to the Notes by conversion into, or by or
in exchange for, shares of Capital Stock of the Company (other than
Disqualified Capital Stock), or out of the Net Proceeds of the
substantially concurrent sale (other than to a Subsidiary of the Company
or to an employee stock ownership plan or other trust established by the
Company or any of its Subsidiaries for the benefit of their employees to
the extent the purchase by such plan or trust is financed by Indebtedness
of such plan or trust and for

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which the Company is liable as guarantor or otherwise) of other shares of Capital Stock of the Company (other than Disqualified Capital
Stock);

     (3) the redemption or retirement of Indebtedness of the Company
subordinate in right of payment to the Notes in exchange for, by
conversion into, or out of the Net Proceeds of a substantially concurrent
sale or incurrence of, Indebtedness of the Company (other than any
Indebtedness owed to a Subsidiary of the Company) that is Refinancing
Indebtedness;

     (4) the repurchase of shares of, or options to purchase shares of,
common stock of the Company or any of its Subsidiaries from employees,
former employees, directors or former directors of the Company or any of
its Subsidiaries (or permitted transferees of such employees, former
employees, directors or former directors), pursuant to the terms of the
agreements (including employment agreements and stockholders’ agreements)
or plans (or amendments thereto) approved by the Board of Directors under
which such persons purchase or sell or are granted the option to purchase
or sell, shares of such common stock, provided, however, that the
aggregate amount of such repurchases shall not exceed $2 million;

     (5) so long as no Default or Event of Default shall have occurred
and be continuing, the payment of fees and the reimbursement of
out-of-pocket expenses, in each case pursuant to the Monitoring Agreement
as in effect on the Issue Date, and pursuant to any amendment thereto or
any replacement agreement thereto so long as any such amendment or
replacement agreement is not more disadvantageous to the Holders in any
material respect than the Monitoring Agreement as in effect on the Issue
Date;

     (6) so long as no Default or Event of Default shall have occurred
and be continuing, the repurchase, redemption, repayment, retirement or
other acquisition of shares of Series A Preferred Stock and/or Series E
Preferred Stock outstanding on the Issue Date (together with any
additional Capital Stock issued as in-kind dividends thereon and the
amount of any accumulated but unpaid dividends thereon, in each case,
pursuant to the terms of such Preferred Stock as in effect on the Issue
Date) with the net proceeds of Subordinated Indebtedness issued pursuant
to clause (15) of the definition of Permitted Indebtedness; and

     (7) so long as no Default or Event of Default shall have occurred
and be continuing, the payment of cash dividends accruing after March 15,
2005 on the Series A Preferred Stock in accordance with the terms thereof
as in effect on the Issue Date.

          In calculating the aggregate amount of Restricted Payments made subsequent
to the Issue Date for purposes of clause (a)(3) above, amounts expended
pursuant to clauses (1), (4) and (7) of the immediately preceding paragraph
shall be included in such calculation.

          (c) Not later than the date of making any Restricted Payment, the Company
will deliver to the Trustee an officers’ certificate stating that such
Restricted Payment is permitted and setting forth the basis upon which the
calculations required by the covenant described above were computed, which
calculations may be based upon the Company’s latest available financial
statements.

          The amount of all Restricted Payments (other than cash) shall be the fair
market value on the date of the Restricted Payment of the asset(s) or
securities proposed to be acquired, transferred or issued to or by the Company
or such Restricted Subsidiary, as the case may be, pursuant to the Restricted
Payment.

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Section 4.12. Limitation on Other Senior Subordinated Indebtedness.

          The Company shall not, and shall not permit any Guarantor to, directly or
indirectly, incur, contingently or otherwise, any Indebtedness (other than the
Notes and the Guarantees, as the case may be) that is both

     (1) subordinate in right of payment to any Senior Indebtedness of
the Company or such Guarantor, as the case may be; and

     (2) senior in right of payment to the Notes or the Guarantee of such
Guarantor, as the case may be.

For purposes of this Section 4.12, Indebtedness is deemed to be senior in right
of payment to the Notes or a Guarantee, as the case may be, if it is not
explicitly subordinated in right of payment to Senior Indebtedness of the
Company or Guarantor Senior Indebtedness of such Guarantor, as the case may be,
at least to the same extent as the Notes and the Guarantee of such Guarantor,
as the case may be, are subordinated to such Senior Indebtedness or Guarantor
Senior Indebtedness, as the case may be.

Section 4.13. Limitation on Asset Sales.

          (a) The Company shall not, and shall not permit any of its Restricted
Subsidiaries to, consummate an Asset Sale unless

     (1) the Company or such Restricted Subsidiary, as the case may be,
receives consideration at the time of such sale or other disposition at
least equal to the fair market value of the assets sold or otherwise
disposed of;

     (2) not less than 75% of the consideration received by the Company
or such Restricted Subsidiary, as the case may be, is in the form of cash
and Cash Equivalents other than in the case where the Company is
undertaking a Permitted Asset Swap, provided that the following shall be
deemed to be cash for purposes of this clause (2):

     (a) any liabilities (as shown on the Company’s or such
Restricted Subsidiary’s most recent balance sheet), of the Company
or any Restricted Subsidiary (other than contingent liabilities and
liabilities that are by their terms subordinate in right of payment
to the Notes or any Guarantee) that are assumed by the transferee
of any such assets pursuant to a customary novation agreement that
releases the Company or such Restricted Subsidiary from further
liability; and

     (b) any securities, notes or other obligations received by the
Company or any such Restricted Subsidiary from such transferee that
are converted by the Company or such Restricted Subsidiary into
cash (to the extent of the cash received in that conversion) within
180 days after the applicable Asset Sale; and

     (3) the Asset Sale Proceeds received by the Company or such
Restricted Subsidiary are applied:

     (a) first, to the extent the Company or any such Restricted
Subsidiary, as the case may be, elects, or is required, to prepay,
repay or purchase Indebtedness under any

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then existing Senior Indebtedness of the Company or any such
Restricted Subsidiary within 365 days following the receipt of the
Asset Sale Proceeds from any Asset Sale; provided that any such
repayment, to the extent relating to revolving credit, must result
in a permanent reduction of the commitments thereunder in an amount
equal to the principal amount so repaid;

     (b) second, to the extent of the balance of Asset Sale
Proceeds after application as described above, to the extent the
Company elects, to make an Investment in Property or other assets
(including Capital Stock or other securities purchased in
connection with the acquisition of Capital Stock or Property of
another Person) in compliance with Section 4.18 within 365 days
following receipt of such Asset Sale Proceeds; and

     (c) third, if on such 365th day in the case of clause (3)(a)
or (3)(b) with respect to any Asset Sale, the Available Asset Sale
Proceeds exceed $5,000,000, the Company shall apply an amount equal
to the Available Asset Sale Proceeds to an offer to repurchase the
Notes, at a purchase price in cash equal to 100% of the principal
amount thereof plus accrued and unpaid interest, if any, to the
purchase date (an “Excess Proceeds Offer”);

provided that, notwithstanding the foregoing, Asset Sale Proceeds that
consist of insurance proceeds may be applied at any time within 365 days
to either a prepayment, repayment or purchase under any of the Senior
Credit Facilities or an Investment in property or other assets in
compliance with Section 4.18.

          (b) If the Company is required to make an Excess Proceeds Offer, the
Company shall mail, within 30 days following the date specified in clause
(3)(c) above, a notice to the Holders. Such notice shall be sent by
first-class mail, postage prepaid, to the Trustee and to each Holder, at the
address appearing in the register maintained by the Registrar of the Notes, and
shall state:

     (1) that the Excess Proceeds Offer is being made pursuant to this
Section 4.13;

     (2) that such Holders have the right to require the Company to apply
the Available Asset Sale Proceeds to repurchase such Notes at a purchase
price in cash equal to 100% of the principal amount thereof plus accrued
and unpaid interest, if any, to the purchase date which shall be no
earlier than 30 days and not later than 45 days from the date such notice
is mailed (the “Excess Proceeds Payment Date”);

     (3) that any Note not tendered or accepted for payment will continue
to accrue interest;

     (4) that any Notes accepted for payment pursuant to the Excess
Proceeds Offer shall cease to accrue interest after the Excess Proceeds
Payment Date;

     (5) that Holders accepting the offer to have their Notes purchased
pursuant to an Excess Proceeds Offer will be required to surrender the
Notes, with the form entitled “Option of Holder to Elect Purchase” on the
reverse of the Note completed, to the Paying Agent at the address
specified in the notice prior to the close of business on the Business
Day preceding the Excess Proceeds Payment Date;

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     (6) that Holders will be entitled to withdraw their acceptance of
the Excess Proceeds Offer if the Paying Agent receives, not later than
the close of business on the third Business Day preceding the Excess
Proceeds Payment Date, a telegram, telex, facsimile transmission or
letter setting forth the name of the Holder, the principal amount of the
Notes delivered for purchase, and a statement that such Holder is
withdrawing his election to have such Notes purchased;

     (7) that if the aggregate principal amount of Notes surrendered by
Holders exceeds the amount of Excess Proceeds, Company shall select the
Notes to be purchased on a pro rata basis (with such adjustments as may
be deemed appropriate by the Company so that only Notes in denominations
of $1,000 or integral multiples thereof, shall be purchased);

     (8) that Holders whose Notes are being purchased only in part will
be issued new Notes equal in principal amount to the unpurchased portion
of the Notes surrendered, provided that each Note purchased and each such
new Note issued shall be in an original principal amount in denominations
of $1,000 and integral multiples thereof;

     (9) the calculations used in determining the amount of Available
Asset Sale Proceeds to be applied to the purchase of such Notes;

     (10) any other procedures that a Holder must follow to accept an
Excess Proceeds Offer or effect withdrawal of such acceptance; and

     (11) the name and address of the Paying Agent.

          On the Excess Proceeds Payment Date, the Company shall, to the extent
lawful, (1) accept for payment, on a pro rata basis to the extent necessary,
Notes or portions thereof tendered pursuant to the Excess Proceeds Offer, (2)
deposit with the Paying Agent U.S. legal tender sufficient to pay the purchase
price plus accrued and unpaid interest, if any, on the Notes to be purchased or
portions thereof and (3) deliver or cause to be delivered to the Trustee Notes
so accepted together with an Officers’ Certificate stating that such Notes or
portions thereof were accepted for payment by the Company in accordance with
the terms of this Section 4.13. The Paying Agent shall promptly mail to each
Holder of Notes so accepted payment in an amount equal to the purchase price
for such Notes, and the Company shall execute and issue, and the Trustee shall
promptly authenticate and make available for delivery to such Holder, a new
Note equal in principal amount to any unpurchased portion of the Notes
surrendered; provided that each such new Note shall be issued in an original
principal amount in denominations of $1,000 and integral multiples thereof.
The Company shall publicly announce the results of the Excess Proceeds Offer on
the Excess Proceeds Payment Date.

          If an Excess Proceeds Offer is not fully subscribed, the Company may
retain the portion of the Available Asset Proceeds not required to repurchase
Notes.

          (c) In the event of the transfer of substantially all of the Property and
assets of the Company and its Restricted Subsidiaries as an entirety to a
Person in a transaction permitted under Section 5.01 of this Indenture, the
successor Person shall be deemed to have sold the Properties and assets of the
Company and its Restricted Subsidiaries not so transferred for purposes of this
Section 4.13, and shall comply with the provisions of this Section 4.13 with
respect to such deemed sale as if it were an Asset Sale.

          (d) The Company shall comply with the requirements of Rule 14e-1 under the
Exchange Act and other securities laws and regulations thereunder to the extent
such laws and regulations

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are applicable in connection with the repurchase of Notes pursuant to an
Excess Proceeds Offer. To the extent that the provisions of any securities laws
or regulations conflict with this Section 4.13, the Company shall comply with
the applicable securities laws and regulations and shall not be deemed to have
breached its obligations under this Section 4.13 by virtue thereof.

Section 4.14. Limitation on Transactions with Affiliates.

          (a) The Company shall not, and shall not permit any of its Restricted
Subsidiaries to, directly or indirectly, enter into any transaction or series
of related transactions (including, without limitation, the sale, purchase,
exchange or lease of assets, Property or services) with or for the benefit of
any Affiliate (each, an “Affiliate Transaction”) or extend, renew, waive or
otherwise modify the terms of any Affiliate Transaction entered into prior to
the Issue Date unless

     (1) such Affiliate Transaction is between or among the Company and
one or more of its Wholly Owned Subsidiaries; or

     (2) the terms of such Affiliate Transaction are fair and reasonable
to the Company or such Restricted Subsidiary, as the case may be, and the
terms of such Affiliate Transaction are at least as favorable as the
terms which could be obtained by the Company or such Restricted
Subsidiary, as the case may be, in a comparable transaction made on an
arm’s-length basis between unaffiliated parties.

          In any Affiliate Transaction (or any series of related Affiliate
Transactions which are similar or part of a common plan) involving an amount or
having a fair market value in excess of $1,000,000 which is not permitted under
clause (1) above, the Company must obtain a board resolution of the Board of
Directors of the Company certifying that such Affiliate Transaction complies
with clause (2) above. In any Affiliate Transaction (or any series of related
Affiliate Transactions which are similar or part of a common plan) involving an
amount or having a fair market value in excess of $10,000,000 which is not
permitted under clause (1) above, the Company must obtain a favorable written
opinion as to the fairness of such transaction or transactions, as the case may
be, from an Independent Financial Advisor.

          (b) The foregoing provisions shall not apply to

     (1) any Restricted Payment that is not prohibited by the provisions
described under Section 4.11;

     (2) reasonable fees and compensation paid to, and indemnity provided
on behalf of, officers, directors or employees of the Company or any
Restricted Subsidiary of the Company as determined in good faith by the
Company’s Board of Directors;

     (3) the grant of stock options, restricted stock or similar rights
to employees and directors of the Company pursuant to plans approved by
the Company’s Board of Directors;

     (4) loans or advances to employees in the ordinary course of
business in accordance with the past practices of the Company or its
Restricted Subsidiaries, but in any event not to exceed $2 million in the
aggregate outstanding at any one time;

     (5) any agreement as in effect as of the Issue Date or any amendment
thereto or any transaction contemplated thereby (including pursuant to
any amendment thereto) in any replacement

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agreement thereto so long as any such amendment or replacement
agreement is not more disadvantageous to the Holders in any material
respect than the original agreement as in effect on the Issue Date;

     (6) (i) issuances of Capital Stock of the Company (other than
Disqualified Capital Stock) and (ii) the amendment of any terms of any
Capital Stock of the Company;

     (7) any transaction between the Company and any of its Affiliates
involving ordinary course of business investment banking, commercial
banking, financial advisory services and related activities; and

     (8) the payment of fees and the reimbursement of out-of-pocket
expenses, in each case pursuant to the Monitoring Agreement as in effect
on the Issue Date and pursuant to any amendment thereto and any
replacement agreement thereto so long as any such amendment or
replacement agreement is not more disadvantageous to the Holders in any
material respect than the Monitoring Agreement as in effect on the Issue
Date.

Section 4.15. Limitation on Liens.

          The Company shall not, and shall not permit any of its Restricted
Subsidiaries to, create, incur or otherwise cause or suffer to exist or become
effective any Liens of any kind (other than Permitted Liens) upon any Property
or asset of the Company or any of its Restricted Subsidiaries or any shares of
Capital Stock or Indebtedness of any Restricted Subsidiary of the Company which
owns Property or assets, now owned or hereafter acquired, without making, or
causing (except with respect to Permitted Liens) the Restricted Subsidiary to
make, effective provision for securing the Notes or, with respect to Liens on
any Guarantor’s Property or assets, the Guarantee of such Guarantor; and

     (1) if such Lien secures Indebtedness which is subordinate in right
of payment to the Notes or the Guarantee of such Guarantor, as the case
may be, any such Lien shall be subordinate to the Lien granted to Holders
or the Guarantee of such Guarantor, as the case may be, to the same
extent as such Indebtedness is subordinate in right of payment to the
Notes or the Guarantee of such Guarantor, as the case may be; and

     (2) in all other cases, the Notes or the Guarantee of such
Guarantor, as the case may be, are equally and ratably secured.

Section 4.16. Change of Control.

          (a) If a Change of Control occurs, the Company shall be obligated to make
an offer to repurchase (the “Change of Control Offer”) each Holder’s
outstanding Notes at a purchase price (the “Change of Control Purchase Price”)
equal to 101% of the principal amount thereof plus accrued and unpaid interest,
if any, to the Change of Control Payment Date in accordance with the procedures
set forth below.

          (b) Within 30 days of the occurrence of a Change of Control, the Company
shall send by first-class mail, postage prepaid, to the Trustee and to each
Holder, at the address appearing in the register maintained by the Registrar of
the Notes, a notice stating:

     (1) that the Change of Control Offer is being made pursuant to this
Section 4.16 and that all Notes tendered will be accepted for payment;

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     (2) the Change of Control Purchase Price and the purchase date
(which shall be a Business Day no earlier than 30 days nor later than 45
days from the date such notice is mailed (the “Change of Control Payment
Date”));

     (3) that any Note not tendered will continue to accrue interest;

     (4) that, unless the Company defaults in the payment of the Change
of Control Purchase Price, any Notes accepted for payment pursuant to the
Change of Control Offer shall cease to accrue interest after the Change
of Control Payment Date;

     (5) that Holders accepting the offer to have their Notes purchased
pursuant to a Change of Control Offer will be required to surrender the
Notes, with the form entitled “Option of the Holder to Elect Purchase” on
the reverse of the Note completed, to the Paying Agent at the address
specified in the notice prior to the close of business on the Business
Day preceding the Change of Control Payment Date;

     (6) that Holders will be entitled to withdraw their acceptance if
the Paying Agent receives, not later than the close of business on the
third Business Day preceding the Change of Control Payment Date, a
telegram, telex, facsimile transmission or letter setting forth the name
of the Holder, the principal amount of the Notes delivered for purchase,
and a statement that such Holder is withdrawing his election to have such
Notes purchased;

     (7) that Holders whose Notes are being purchased only in part will
be issued new Notes equal in principal amount to the unpurchased portion
of the Notes surrendered;

     (8) any other procedures that a Holder must follow to accept a
Change of Control Offer or effect withdrawal of such acceptance; and

     (9) the name and address of the Paying Agent.

          On the Change of Control Payment Date, the Company shall, to the extent
lawful, (1) accept for payment Notes or portions thereof tendered pursuant to
the Change of Control Offer, (2) deposit with the Paying Agent money sufficient
to pay the Change of Control Purchase Price of all Notes or portions thereof so
tendered and (3) deliver or cause to be delivered to the Trustee Notes so
accepted together with an Officers’ Certificate stating the aggregate principal
amount of Notes or portions thereof tendered to the Company. The Paying Agent
shall promptly mail to each Holder of Notes so accepted payment in an amount
equal to the Change of Control Purchase Price for such Notes, and the Company
shall execute and issue, and the Trustee shall promptly authenticate and mail
to such Holder, a new Note equal in principal amount to any unpurchased portion
of the Notes surrendered; provided that each such new Note shall be issued in
an original principal amount in denominations of $1,000 and integral multiples
thereof.

          (c) Prior to the mailing of the notice to Holders described in clause (b)
above, but in any event within 30 days following any Change of Control, the
Company covenants to

     (1) repay in full all obligations and terminate all commitments
under or in respect of all outstanding Senior Indebtedness the terms of
which prohibit the purchase by the Company of the Notes upon a Change of
Control in compliance with the terms of this Section 4.16 or offer to
repay in full all obligations and terminate all commitments under or in
respect of all such Senior

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Indebtedness and repay the Senior Indebtedness owed to each such
lender who has accepted such offer; or

     (2) obtain the requisite consents under all such Senior Indebtedness
containing such prohibition to permit the repurchase of the Notes
pursuant to this Section 4.16.

The Company must first comply with the covenant described in the preceding
sentence before it will be required to purchase Notes in the event of a Change
of Control; provided that the Company’s failure to comply with the covenant
described in the preceding sentence will constitute an Event of Default
described in clause (d) of Section 6.01.

          (d) (1) If the Company or any Restricted Subsidiary of the Company has
outstanding Indebtedness that is subordinated in right of payment to the Notes
or Preferred Stock, and the Company or such Restricted Subsidiary is required
to make a change of control offer or to make a distribution with respect to
such subordinated Indebtedness or Preferred Stock in the event of a Change of
Control, the Company shall not consummate any such offer or distribution with
respect to such subordinated Indebtedness or Preferred Stock until such time as
the Company shall have paid the Change of Control Purchase Price to the Holders
that have accepted the Company’s Change of Control Offer and shall otherwise
have consummated the Change of Control Offer made to Holders and (2) the
Company will not issue Indebtedness that is subordinated in right of payment to
the Notes or Preferred Stock with change of control provisions requiring the
payment of such Indebtedness or Preferred Stock prior to the payment of the
Notes tendered pursuant to a Change of Control Offer in the event of a Change
in Control under this Indenture.

          (e) The Company will comply with the requirements of Rule 14e-1 under the
Exchange Act and any other securities laws and regulations thereunder to the
extent such laws and regulations are applicable in connection with the
repurchase of Notes pursuant to a Change of Control Offer. To the extent that
the provisions of any securities laws or regulations conflict with this Section
4.16, the Company shall comply with the applicable securities laws and
regulations and shall not be deemed to have breached its obligations under this
Section 4.16 by virtue thereof.

Section 4.17. Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries.

          The Company shall not, and shall not permit any of its Restricted
Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to
exist or become effective any encumbrance or restriction on the ability of any
Restricted Subsidiary of the Company to

     (1) pay dividends or make any other distributions to the Company or
any Restricted Subsidiary of the Company

     (a) on its Capital Stock or

     (b) with respect to any other interest or participation in, or
measured by, its profits;

     (2) repay any Indebtedness or any other obligation owed to the
Company or any Restricted Subsidiary of the Company;

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     (3) make loans or advances or capital contributions to the Company
or any of its Restricted Subsidiaries; or

     (4) transfer any of its Properties or assets to the Company or any
of its Restricted Subsidiaries;

except for such encumbrances or restrictions existing under or by reason of

     (1) encumbrances or restrictions existing on the Issue Date to the
extent and in the manner such encumbrances and restrictions are in effect
on the Issue Date;

     (2) this Indenture, the Notes and the Guarantees;

     (3) applicable law;

     (4) any instrument governing Acquired Indebtedness, which
encumbrance or restriction is not applicable to any Person, or the
Property or assets of any Person, other than the Person, or the Property
or assets of the Person (including any Subsidiary of the Person), so
acquired or any contract to which the Person (including any Subsidiary of
such Person) so acquired is a party so long as such contract was not
entered into in contemplation of such acquisition;

     (5) customary non-assignment provisions in leases or other
agreements entered in the ordinary course of business and consistent with
past practices;

     (6) Refinancing Indebtedness, provided that such restrictions are no
more restrictive than those contained in the agreements governing the
Indebtedness being refunded, refinanced or extended;

     (7) customary restrictions in Capitalized Lease Obligations,
security agreements or mortgages securing Indebtedness of the Company or
a Restricted Subsidiary to the extent such restrictions restrict the
transfer of the Property subject to such Capitalized Lease Obligations,
security agreements and mortgages;

     (8) customary restrictions with respect to a Restricted Subsidiary
of the Company pursuant to an agreement that has been entered into for
the sale or disposition of all or substantially all of the Capital Stock
or assets of such Restricted Subsidiary;

     (9) the Senior Credit Facilities; or

     (10) customary provisions restricting dispositions of real property
interests set forth in any reciprocal easement agreements of the Company
or any Restricted Subsidiary.

Section 4.18. Limitation on Conduct of Business.

          The Company and its Restricted Subsidiaries shall not engage in any
businesses which are not the same as or similar, ancillary, complementary or
related to the businesses in which the Company and its Restricted Subsidiaries
are engaged in on the Issue Date. Notwithstanding the foregoing, the Company
may acquire and operate any business which at the time of acquisition is
primarily the same, similar, ancillary or related to the businesses in which
the Company and its Restricted Subsidiaries are engaged in on the Issue Date.

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Section 4.19. Limitation on Preferred Stock of Restricted Subsidiaries.

          The Company shall not permit any of its Restricted Subsidiaries to issue
any Preferred Stock (except Preferred Stock issued to the Company or a Wholly
Owned Subsidiary of the Company) or permit any Person (other than the Company
or a Wholly Owned Subsidiary of the Company) to hold any such Preferred Stock
unless such Restricted Subsidiary would be entitled to incur or assume
Indebtedness under Section 4.10 (other than Permitted Indebtedness) in the
aggregate principal amount equal to the aggregate liquidation value as of the
date of issuance thereof of the Preferred Stock to be issued.

Section 4.20. Limitation on Creation of Subsidiaries.

          The Company shall not create or acquire, and shall not permit any of its
Restricted Subsidiaries to create or acquire, any Subsidiary other than

     (1) a Restricted Subsidiary existing as of the Issue Date;

     (2) a Restricted Subsidiary that is acquired or created after the
Issue Date; provided, however, that each such Restricted Subsidiary
(other than a Foreign Restricted Subsidiary), at the time it has either
assets or shareholders’ equity in excess of $1,000,000, must execute a
Guarantee, satisfactory in form and substance to the Trustee (and with
such documentation relating thereto as the Trustee may require,
including, without limitation, a supplement or amendment to this
Indenture and opinions of counsel as to the enforceability of such
Guarantee), pursuant to which such Restricted Subsidiary shall become a
Guarantor; or

     (3) an Unrestricted Subsidiary.

Section 4.21. Limitation on Capital Stock of Restricted Subsidiaries

     The Company shall not

     (1) sell, pledge, hypothecate or otherwise convey or dispose of any
Capital Stock of a Restricted Subsidiary of the Company (other than any
such transaction resulting in a Lien which constitutes a Permitted Lien);
or

     (2) permit any of its Restricted Subsidiaries to issue any Capital
Stock, other than to the Company or a Wholly Owned Subsidiary of the
Company.

The foregoing restrictions shall not apply to an Asset Sale made in compliance
with Section 4.13 (provided that if such Asset Sale is for less than all of the
outstanding Capital Stock of any Restricted Subsidiary held by the Company or
any of its Restricted Subsidiaries, such Asset Sale must also comply with
Section 4.11) or the issuance of Preferred Stock in compliance with Section
4.19.

Section 4.22. Limitation on Sale and Lease-Back Transactions

          The Company shall not, and shall not permit any of its Restricted
Subsidiaries to, enter into any Sale and Lease-Back Transaction; provided that
the Company or any Guarantor may enter into a Sale and Lease-Back Transaction
if:

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     (1) the Company or that Guarantor, as applicable, could have

     (a) incurred Indebtedness (other than Permitted Indebtedness)
in an amount equal to the Attributable Indebtedness relating to
such Sale and Lease-Back Transaction under Section 4.10; and

     (b) incurred a Lien to secure such Indebtedness pursuant to
Section 4.15 (assuming solely for purposes of this clause (b) that
the Attributable Indebtedness relating to such Sale and Lease-Back
Transactions constituted Capitalized Lease Obligations);

     (2) the gross cash proceeds of that Sale and Lease-Back Transaction
are at least equal to the fair market value of the Property sold; and

     (3) the transfer of assets in that Sale and Lease-Back Transaction
is permitted by, and the Company applies the proceeds of such transaction
in compliance with, Section 4.13.

Section 4.23. Payments for Consent

          The Company shall not, and shall not permit any of its Subsidiaries to,
directly or indirectly, pay or cause to be paid any consideration, whether by
way of interest, fee or otherwise, to any Holder for or as an inducement to any
consent, waiver or amendment of any of the terms or provisions of this
Indenture or the Notes unless such consideration is offered to be paid or
agreed to be paid to all Holders that so consent, waive or agree to amend in
the time frame set forth in solicitation documents relating to such consent,
waiver or amendment.

ARTICLE 5

SUCCESSOR CORPORATION

Section 5.01. Limitation on Consolidation, Merger and Sale of Assets.

          The Company shall not and shall not permit any of its Restricted
Subsidiaries to (1) consolidate or merge with or into another Person (whether
or not the Company or such Restricted Subsidiary shall be the continuing
Person), or (2) sell, assign, transfer, lease, convey or otherwise dispose of
all or substantially all of the assets of the Company and its Restricted
Subsidiaries, taken as a whole (as an entirety or substantially as an entirety
in one transaction or a series of related transactions) to any Person unless:

          (a) either the Company or such Restricted Subsidiary, as the case may be,
shall be the continuing Person, or the Person (if other than the Company or
such Restricted Subsidiary) formed by such consolidation or into which the
Company or such Restricted Subsidiary, as the case may be, is merged or to
which the assets of the Company or such Restricted Subsidiary, as the case may
be, are sold, assigned, transferred, leased, conveyed or otherwise disposed of
shall be a corporation organized and existing under the laws of the United
States or any state thereof or the District of Columbia and must expressly
assume, by a supplemental indenture, executed and delivered to the Trustee, in
form satisfactory to the Trustee, all of the obligations of the Company or such
Restricted Subsidiary, as the case may be, under this Indenture, the Notes and
the Guarantees, and the obligations thereunder shall remain in full force and
effect;

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          (b) immediately before and immediately after giving effect to such
transaction, no Default or Event of Default shall have occurred and be
continuing; and

          (c) immediately after giving effect to such transaction on a pro forma
basis the Company or such Person

     (i) shall have a Consolidated Net Worth equal to or greater
than the Consolidated Net Worth of the Company immediately prior to
such transaction and

     (ii) shall be able to incur at least $1.00 of additional
Indebtedness (other than Permitted Indebtedness) under Section
4.10.

          In connection with any consolidation, merger or transfer of assets
contemplated by this provision, the Company shall deliver, or cause to be
delivered, to the Trustee, in form and substance reasonably satisfactory to the
Trustee, an Officers’ Certificate and an Opinion of Counsel, each stating that
such consolidation, merger or transfer and the supplemental indenture in
respect thereto comply with this provision and that all conditions precedent
herein provided for relating to such transaction or transactions have been
complied with.

          For purposes of the foregoing, the transfer (by lease, assignment, sale or
otherwise, in a single transaction or series of transactions) of all or
substantially all of the properties or assets of one or more Restricted
Subsidiaries of the Company, the Capital Stock of which constitutes all or
substantially all of the assets of the Company, shall be deemed to be the
transfer of all or substantially all of the properties and assets of the
Company.

Section 5.02. Successor Person Substituted.

          Upon any consolidation, merger, conveyance or any transfer of all or
substantially all of the assets of the Company in accordance with Section 5.01,
the successor entity formed by such consolidation or into which the Company or
any such Restricted Subsidiary is merged or to which such transfer is made
shall succeed to, and be substituted for, and may exercise every right and
power of, the Company or such Restricted Subsidiary, as the case may be, under
this Indenture with the same effect as if such successor entity had been named
as the Company or such Restricted Subsidiary, as the case may be herein, and
thereafter the predecessor entity shall be relieved of all obligations and
covenants under this Indenture and the Notes.

ARTICLE 6

DEFAULTS AND REMEDIES

Section 6.01. Events of Default.

     An “Event of Default” occurs if

     (a) there is a default in the payment of any principal of, or
premium, if any, on the Notes whether at maturity, upon redemption,
required repurchase or otherwise, whether or not such payment is
prohibited by the provisions of Article 12;

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     (b) there is a default in the payment of any interest on any Note
when the same becomes due and payable and the default continues for a
period of 30 days, whether or not such payment is prohibited by the
provisions of Article 12;

     (c) there is a default by the Company or any Restricted Subsidiary
in the observance of its obligations under Section 5.01;

     (d) there is a default by the Company or any Restricted Subsidiary
in the observance or performance of its obligations under any of Sections
4.10 through 4.23, inclusive (in each case, other than a failure to
purchase Notes), for 30 days after written notice from the Trustee or the
Holders of not less than 25% in aggregate principal amount of the Notes
then outstanding;

     (e) there is a default by the Company or any Restricted Subsidiary
in the observance or performance of any other covenant in the Notes or
this Indenture for 60 days after written notice from the Trustee or the
Holders of not less than 25% in aggregate principal amount of the Notes
then outstanding;

     (f) there is a failure to pay when due (giving effect to any
applicable grace periods and any waiver or extension thereof) principal,
interest or premium with respect to any Indebtedness of the Company or
any Restricted Subsidiary thereof, or the acceleration of any such
Indebtedness, if the aggregate amount of such Indebtedness, together with
the amount of any other such Indebtedness in default for failure to pay
principal, interest or premium or which has been accelerated, aggregate
$10 million or more at any time;

     (g) any final judgment or judgments which can no longer be appealed
for the payment of money in excess of $10 million is rendered against the
Company or any Restricted Subsidiary, and shall not be discharged for any
period of 60 consecutive days during which a stay of enforcement shall
not be in effect;

     (h) the Company or any of its Significant Subsidiaries pursuant to
or within the meaning of any Bankruptcy Law:

     (A) commences a voluntary case,

     (B) consents to the entry of an order for relief against it in
an involuntary case,

     (C) consents to the appointment of a Custodian of it or for
all or substantially all of its Property,

     (D) makes a general assignment for the benefit of its
creditors,

     (E) generally is not able to pay its debts as they become due,
or

     (F) takes any corporate action to authorize or effect any of
the foregoing;

     (i) a court of competent jurisdiction enters an order or decree
under any Bankruptcy Law that:

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     (A) is for relief against the Company or any of its
Significant Subsidiaries in an involuntary case,

     (B) appoints a Custodian of the Company or any of its
Significant Subsidiaries or for all or substantially all of the
Property of the Company or any of its Significant Subsidiaries, or

     (C) orders the liquidation of the Company or any of its
Significant Subsidiaries,

and the order or decree remains unstayed and in effect for 60 days; and

     (j) any of the Guarantees ceases to be in full force and effect or
any of the Guarantees is declared to be null and void and unenforceable
or any of the Guarantees is found to be invalid or any of the Guarantors
denies its liability under its Guarantee (other than by reason of release
of a Guarantor in accordance with the terms of this Indenture).

          The term “Bankruptcy Law” means Title 11, U.S. Code or any similar
Federal, state or foreign law for the relief of debtors. The term “Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any
Bankruptcy Law.

Section 6.02. Acceleration.

          If an Event of Default (other than an Event of Default of the type
described in Section 6.01(h) or (i)) shall have occurred and be continuing,
then the Trustee or the Holders of not less than 25% in aggregate principal
amount of the Notes then outstanding may declare to be immediately due and
payable the entire principal amount of all the Notes then outstanding plus
accrued and unpaid interest, if any, to the date of acceleration and the same
(1) shall become immediately due and payable or (2) if there are any amounts
outstanding under any Senior Credit Facility, shall become immediately due and
payable upon the first to occur of an acceleration under any Senior Credit
Facility or five Business Days after receipt by the Company and the
representative under any Senior Credit Facility of a notice of acceleration;
provided, however, that after such acceleration but before a judgment or decree
based on such acceleration is obtained by the Trustee, the Holders of a
majority in aggregate principal amount of outstanding Notes may rescind and
annul such acceleration if

     (1) all Events of Default, other than nonpayment of principal,
premium, if any, or interest that has become due solely because of the
acceleration, have been cured or waived;

     (2) to the extent the payment of such interest is lawful, interest
on overdue installments of interest and overdue principal, which has
become due otherwise than by such declaration of acceleration, has been
paid;

     (3) the Company has paid the Trustee its reasonable compensation and
reimbursed the Trustee for its expenses, disbursements and advances; and

     (4) in the event of the cure or waiver of an Event of Default of the
type described in Section 6.01(f) or (g), the Trustee shall have received
an Officers’ Certificate and an Opinion of Counsel that such Event of
Default has been cured or waived.

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No such rescission shall affect any subsequent Default or impair any right
consequent thereto. In case an Event of Default of the type described in
Section 6.01(h) or (i) shall occur, the principal, premium and interest amount
with respect to all of the Notes shall be due and payable immediately without
any declaration or other act on the part of the Trustee or the Holders.

Section 6.03. Other Remedies.

          If an Event of Default occurs and is continuing, the Trustee may pursue
any available remedy by proceeding at law or in equity to collect the payment
of principal of, or premium, if any, and interest on the Notes or to enforce
the performance of any provision of the Notes or this Indenture and may take
any necessary action requested of it as Trustee to settle, compromise, adjust
or otherwise conclude any proceedings to which it is a party.

          The Trustee may maintain a proceeding even if it does not possess any of
the Notes or does not produce any of them in the proceeding. A delay or
omission by the Trustee or any Holder in exercising any right or remedy
accruing upon an Event of Default shall not impair the right or remedy or
constitute a waiver of or acquiescence in the Event of Default. No remedy is
exclusive of any other remedy. All available remedies are cumulative to the
extent permitted by law.

Section 6.04. Waiver of Past Defaults and Events of Default.

          Subject to Sections 2.09, 6.02, 6.07 and 8.02, the Holders of a majority
in principal amount of the Notes then outstanding have the right to waive past
Defaults under this Indenture except a Default in the payment of the principal
of, or interest or premium, if any, on any Note as specified in clauses (a) and
(b) of Section 6.01 or in respect of a covenant or a provision which cannot be
modified or amended without the consent of all Holders as provided for in
Section 8.02. The Company shall deliver to the Trustee an Officers’
Certificate stating that the requisite percentage of Holders have consented to
such waiver and attaching copies of such consents. In case of any such waiver,
the Company, the Trustee and the Holders shall be restored to their former
positions and rights hereunder and under the Notes, respectively. This
paragraph of this Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the
TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from
this Indenture and the Notes, as permitted by the TIA.

          Upon any such waiver, such Default shall cease to exist, and any Event of
Default arising therefrom shall be deemed to have been cured for every purpose
of this Indenture, but no such waiver shall extend to any subsequent or other
Default or Event of Default or impair any right consequent thereto.

Section 6.05. Control by Majority.

          Subject to Section 2.09, the Holders of a majority in principal amount of
the outstanding Notes have the right to direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee or exercising
any trust or power conferred on the Trustee by this Indenture. The Trustee,
however, may refuse to follow any direction that conflicts with law or this
Indenture or that the Trustee determines may be unduly prejudicial to the
rights of another Holder not taking part in such direction, and the Trustee
shall have the right to decline to follow any such direction if the Trustee,
being advised by counsel, determines that the action so directed may not
lawfully be taken or if the Trustee in good faith shall, by a Trust Officer,
determine that the proceedings so directed may involve it in personal
liability; provided that the Trustee may take any other action deemed proper by
the Trustee which is not inconsistent with such direction. In the event the
Trustee takes any action or follows any direction pursuant

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to this Indenture, the Trustee shall be entitled to indemnification
reasonably satisfactory to it against any loss or expense caused by taking such
action or following such direction. This Section 6.05 shall be in lieu of
Section 316(a)(1)(A) of the TIA, and such Section 316(a)(1)(A) of the TIA is
hereby expressly excluded from this Indenture and the Notes, as permitted by
the TIA.

Section 6.06. Limitation on Suits.

          Subject to Section 6.07, no Holder shall have any right to institute any
proceeding with respect to this Indenture or any remedy thereunder unless:

     (1) such Holder has previously given the Trustee written notice of a
continuing Event of Default;

     (2) the Holders of at least 25% in aggregate principal amount of the
outstanding Notes have made a written request to the Trustee to pursue
the remedy;

     (3) such Holder or Holders offer to the Trustee indemnity reasonably
satisfactory to the Trustee against any loss, liability or expense which
may be incurred in compliance with such request;

     (4) the Trustee fails to institute such proceeding within 60
calendar days after receipt of such notice and the offer of indemnity;
and

     (5) the Trustee has not received directions inconsistent with such
written request during such 60-day period by the Holders of a majority in
aggregate principal amount of the outstanding Notes.

          A Holder may not use this Indenture to prejudice the rights of another
Holder or to obtain a preference or priority over another Holder.

Section 6.07. Rights of Holders to Receive Payment.

          Notwithstanding any other provision of this Indenture, the right of any
Holder to receive payment of principal of, or premium, if any, or accrued
interest of any Note held by such Holder on or after the respective due dates
expressed in such Note, or to bring suit for the enforcement of any such
payment on or after such respective dates, is absolute and unconditional and
shall not be impaired or affected without the consent of the Holder.

Section 6.08. Collection Suit by Trustee.

          If an Event of Default occurs and is continuing, the Trustee may recover
judgment in its own name and as trustee of an express trust against the Company
for the whole amount of unpaid principal, premium and accrued interest
remaining unpaid, together with, to the extent that payment of such interest is
lawful, interest on overdue principal and interest on overdue installments of
interest, in each case at the rate provided for in Section 4.01, and such
further amounts as shall be sufficient to cover the costs and expenses of
collection, including the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel.

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Section 6.09. Trustee May File Proofs of Claim.

          The Trustee may file such proofs of claim and other papers or documents as
may be necessary or advisable in order to have the claims of the Trustee
(including any claim for the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel) and the Holders allowed in
any judicial proceedings relative to the Company (or any other obligor upon the
Notes), its creditors or its property and shall be entitled and empowered to
collect and receive any monies or other property payable or deliverable on any
such claims and to distribute the same after deduction of its charges and
expenses to the extent that any such charges and expenses are not paid out of
the estate in any such proceedings and any custodian in any such judicial
proceeding is hereby authorized by each Holder to make such payments to the
Trustee, and in the event that the Trustee shall consent to the making of such
payments directly to the Holders, to pay to the Trustee any amount due to it
for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 7.07.

          Nothing herein contained shall be deemed to authorize the Trustee to
authorize or consent to or accept or adopt on behalf of any Holder any plan or
reorganization, arrangement, adjustment or composition affecting the Notes or
the rights of any Holder thereof, or to authorize the Trustee to vote in
respect of the claim of any Holder in any such proceedings.

Section 6.10. Priorities.

          If the Trustee collects any money pursuant to this Article 6, it shall pay
out the money in the following order:

     FIRST: to the Trustee for amounts due under Section 7.07;

     SECOND: if the Holders are forced to proceed against the Company or
any Guarantor directly without the Trustee, to Holders for their
collection costs;

     THIRD: to Holders for amounts due and unpaid on the Notes for
principal, premium, if any, and interest as to each, ratably, without
preference or priority of any kind, according to the amounts due and
payable on the Notes; and

     FOURTH: to the Company or, to the extent the Trustee collects any
amounts from any Guarantor, to such Guarantor.

          The Trustee, upon prior written notice to the Company, may fix a record
date and payment date for any payment to Holders pursuant to this Section 6.10.

Section 6.11. Undertaking for Costs.

          In any suit for the enforcement of any right or remedy under this
Indenture or in any suit against the Trustee for any action taken or omitted by
it as Trustee, a court in its discretion may require the filing by any party
litigant in the suit of an undertaking to pay the costs of the suit, and the
court in its discretion may assess reasonable costs, including reasonable
attorneys’ fees, against any party litigant in the suit, having due regard to
the merits and good faith of the claims or defenses made by the party litigant.
This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder
pursuant to Section 6.07 hereof or a suit by Holders of more than 10% in
principal amount of the Notes then outstanding.

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ARTICLE 7

TRUSTEE

Section 7.01. Duties of Trustee.

          (a) If a Default or an Event of Default has occurred and is continuing,
the Trustee shall exercise such of the rights and powers vested in it by this
Indenture and use the same degree of care and skill in its exercise thereof as
a prudent person would exercise or use under the circumstances in the conduct
of such person’s own affairs.

          (b) Except during the continuance of a Default or an Event of Default:

     (1) The Trustee need perform only those duties as are specifically
set forth in this Indenture and no covenants or obligations shall be
implied in this Indenture against the Trustee.

     (2) In the absence of bad faith on its part, the Trustee may
conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon certificates or opinions
furnished to the Trustee and conforming to the requirements of this
Indenture. However, the Trustee shall examine the certificates and
opinions to determine whether or not they conform to the requirements of
this Indenture.

          (c) Notwithstanding anything to the contrary herein contained, the Trustee
may not be relieved from liability for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that:

          (d) This paragraph does not limit the effect of paragraph (b) of this
Section 7.01.

          (e) The Trustee shall not be liable for any error of judgment made in good
faith by a Trust Officer, unless it is proved that the Trustee was negligent in
ascertaining the pertinent facts.

          (f) The Trustee shall not be liable with respect to any action it takes or
omits to take in good faith in accordance with a direction received by it
pursuant to Section 6.05.

          (g) No provision of this Indenture shall require the Trustee to expend or
risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder or to take or omit to take any
action under this Indenture or take any action at the request or direction of
Holders if it shall have reasonable grounds for believing that repayment of
such funds is not assured to it or it does not receive from such Holders an
indemnity reasonably satisfactory to it against such risk, liability, loss, fee
or expense which might be incurred by it in compliance with such request or
direction.

          (h) Whether or not herein expressly provided, every provision of this
Indenture that in any way relates to the Trustee is subject to paragraphs (a),
(b), (c) and (d) of this Section 7.01.

          (i) The Trustee shall not be liable for interest on any money or assets
received by it except as the Trustee may agree in writing with the Company.
Assets held in trust by the Trustee need not be segregated from other assets
except to the extent required by law.

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Section 7.02. Rights of Trustee.

     Subject to Section 7.01:

     (a) The Trustee may rely on any document reasonably believed by it
to be genuine and to have been signed or presented by the proper person.
The Trustee need not investigate any fact or matter stated in the
document.

     (b) Before the Trustee acts or refrains from acting with respect to
any matters contemplated by this Indenture or the Notes it may consult
with counsel and may require an Officers’ Certificate or an Opinion of
Counsel, or both, which shall conform to the provisions of Section 13.05.
The Trustee shall be protected and shall not be liable for any action it
takes or omits to take in good faith in reliance on such certificate or
opinion.

     (c) The Trustee may act through attorneys and agents and shall not
be responsible for the misconduct or negligence of any attorney or agent
(other than an agent who is an employee of the Trustee) so long as the
appointment of such agent was made with due care.

     (d) The Trustee shall not be liable for any action it takes or omits
to take in good faith which it reasonably believes to be authorized or
within its rights or powers.

     (e) The Trustee may consult with counsel of its selection, and the
advice or opinion of such counsel as to matters of law shall be full and
complete authorization and protection from liability in respect of any
action taken, omitted or suffered by it hereunder in good faith and in
accordance with the advice or opinion of such counsel.

     (f) Except with respect to Sections 4.01, 4.02 and 4.04, the Trustee
shall have no duty to inquire as to the performance of the Company’s and
the Guarantors’ covenants in Article Four hereof. In addition, the
Trustee shall not be deemed to have knowledge of any Default or Event of
Default except (i) any Event of Default occurring pursuant to Sections
6.01(a) and 6.01(b) or (ii) any Default or Event of Default of which the
Trustee shall have received written notice in the manner set forth in
this Indenture or an officer of the Trustee shall have obtained actual
knowledge. Delivery of reports, information and documents to the Trustee
under Sections 4.02 and 4.04 is for informational purposes only and the
Trustee’s receipt of the foregoing shall not constitute constructive
notice of any information contained therein or determinable from
information contained therein, including the Company’s and the
Guarantors’ compliance with any of their covenants thereunder (as to
which the Trustee is entitled to rely exclusively on an Officers’
Certificate).

Section 7.03. Individual Rights of Trustee.

          The Trustee in its individual or any other capacity may become the owner
or pledgee of Notes and may make loans to, accept deposits from, perform
services for or otherwise deal with the Company, or any Affiliates thereof,
with the same rights it would have if it were not Trustee. Any Agent may do
the same with like rights. The Trustee, however, shall be subject to Sections
7.10 and 7.11.

Section 7.04. Trustee’s Disclaimer.

          The Trustee shall not be responsible for and makes no representation as to
the validity or adequacy of this Indenture or the Notes, it shall not be
accountable for the Company’s use of the proceeds

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from the sale of Notes or any money paid to the Company pursuant to the
terms of this Indenture and it shall not be responsible for any statement of
the Company in this Indenture or the Notes other than the Trustee’s certificate
of authentication.

Section 7.05. Notice of Defaults.

          If a Default or an Event of Default occurs and is continuing and if the
Trustee has actual knowledge of such Default or Event of Default, the Trustee
shall mail to each Holder notice of the uncured Default or Event of Default
within 30 days after such Default or Event of Default occurs. Except in the
case of a Default or an Event of Default in payment of principal of, premium or
interest on, any Note, including an accelerated payment and the failure to make
payment on the Change of Control Payment Date pursuant to a Change of Control
Offer or on the Excess Proceeds Payment Date pursuant to an Excess Proceeds
Offer and, except in the case of a failure to comply with Article 5 hereof, the
Trustee may withhold the notice if and so long as its Board of Directors, the
executive committee of its Board of Directors or a committee of its directors
and/or Trust Officers in good faith determines that withholding the notice is
in the interest of the Holders. This Section 7.05 shall be in lieu of the
proviso to Section 315(b) of the TIA, and such proviso of Section 315(b) of the
TIA is hereby expressly excluded from this Indenture and the Notes, as
permitted by the TIA.

Section 7.06. Reports by Trustee to Holders.

          If required by TIA Section 313(a), within 60 days after May 15 of any
year, commencing the May 15 following the date of this Indenture, the Trustee
shall mail to each Holder a brief report dated as of such May 15 that complies
with TIA Section 313(a). The Trustee also shall comply with TIA Section
313(b), (c) and (d).

          Reports pursuant to this Section 7.06 shall be transmitted by mail:

     (1) to all registered Holders, as the names and addresses of such
Holders appear on the Registrar’s books; and

     (2) to such Holder as have, within the two years preceding such
transmission, filed their names and addresses with the Trustee for that
purpose.

          A copy of each report at the time of its mailing to Holders shall be filed
with the Commission and each stock exchange, if any, on which the Notes are
listed. The Company shall promptly notify the Trustee when the Notes are
listed on any stock exchange or of any delisting thereof.

Section 7.07. Compensation and Indemnity.

          The Company shall pay to the Trustee from time to time such compensation
as shall be agreed in writing between the Company and the Trustee for the
Trustee’s services. The Trustee’s compensation shall not be limited by any law
on compensation of a trustee of an express trust. The Company shall reimburse
the Trustee upon request for all reasonable fees and expenses, including
out-of-pocket expenses incurred or made by it in connection with the
performance of its duties under this Indenture or in connection with the
collection of any funds. Such expenses shall include the reasonable fees and
expenses of the Trustee’s agents and counsel.

          The Company shall indemnify each of the Trustee and its agents, employees,
stockholders and directors and officers for, and hold them harmless against,
any loss, liability or expense incurred

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by them except for such actions to the extent caused by any negligence,
bad faith or willful misconduct on their part, arising out of or in connection
with the administration of this trust including the reasonable costs and
expenses of defending themselves against any claim or liability in connection
with the exercise or performance of any of their rights, powers or duties
hereunder. The Trustee shall notify the Company promptly, in writing, of any
claim asserted against the Trustee for which it may seek indemnity. At the
Trustee’s sole discretion, the Company shall defend the claim and the Trustee
shall cooperate and may participate in the defense; provided that any
settlement of a claim shall be approved in writing by the Trustee. The Company
need not pay for any settlement made without its written consent, which consent
shall not be unreasonably withheld. The Company need not reimburse any expense
or indemnify against any loss or liability to the extent incurred by the
Trustee through its negligence, bad faith or willful misconduct.

          To secure the Company’s payment obligations in this Section 7.07, the
Trustee shall have a lien prior to the Notes on all assets or money held or
collected by the Trustee, in its capacity as Trustee, except assets or money
held in trust to pay principal of, premium or interest on particular Notes.

          When the Trustee incurs expenses or renders services after an Event of
Default specified in Section 6.01(h) or (i) occurs, such expenses and the
compensation for such services are intended to constitute expenses of
administration under any Bankruptcy Law.

          The obligation of the Company under this Section 7.07 shall survive the
resignation or removal of the Trustee and the satisfaction and discharge of
this Indenture.

Section 7.08. Replacement of Trustee.

          The Trustee may resign at any time by so notifying the Company in writing.
The Holders of a majority in principal amount of the outstanding Notes may
remove the Trustee by so notifying the Trustee and the Company in writing and
may appoint a successor Trustee. The Company may remove the Trustee at its
election if:

     (a) the Trustee fails to comply with Section 7.10;

     (b) the Trustee is adjudged a bankrupt or an insolvent;

     (c) a receiver or other public officer takes charge of the Trustee
or its property; or

     (d) the Trustee otherwise becomes incapable of acting.

          If the Trustee resigns or is removed or if a vacancy exists in the office
of Trustee for any reason (the Trustee in such event being referred to herein
as the retiring Trustee), the Company shall promptly appoint a successor
Trustee. Within one year after the successor Trustee takes office, the Holders
of a majority in principal amount of the Notes may appoint a successor Trustee
to replace the successor Trustee appointed by the Company.

          A successor Trustee shall deliver a written acceptance of its appointment
to the retiring Trustee and to the Company. Immediately after that, the
retiring Trustee shall transfer, after payment of all sums then owing to the
Trustee pursuant to Section 7.07, all property held by it as Trustee to the
successor Trustee, subject to the lien provided in Section 7.07, the
resignation or removal of the retiring Trustee shall become effective, and the
successor Trustee shall have the rights, powers and duties of the Trustee under
this Indenture. A successor Trustee shall mail notice of its succession to each
Holder.

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          If a successor Trustee does not take office within 60 days after the
retiring Trustee resigns or is removed, the retiring Trustee, the Company or
the Holders of at least 10% in principal amount of the outstanding Notes may
petition, at the expense of the Company, any court of competent jurisdiction
for the appointment of a successor Trustee.

          If the Trustee fails to comply with Section 7.10, any Holder may petition
any court of competent jurisdiction for the removal of the Trustee and the
appointment of a successor Trustee.

          Notwithstanding replacement of the Trustee pursuant to this Section 7.08,
the Company’s obligations under Section 7.07 shall continue for the benefit of
the retiring Trustee.

Section 7.09. Successor Trustee by Consolidation, Merger or Conversion.

          If the Trustee consolidates with, merges or converts into, or transfers
all or substantially all of its corporate trust business to, another
corporation, subject to this Article 7, the successor corporation without any
further act shall be the successor Trustee.

Section 7.10. Eligibility; Disqualification.

          This Indenture shall always have a Trustee which shall be eligible to act
as Trustee under TIA Sections 310(a)(1) and 310(a)(2). The Trustee shall have
a combined capital and surplus of at least $50,000,000 as set forth in its most
recent published annual report of condition. If the Trustee has or shall
acquire any “conflicting interest” within the meaning of TIA Section 310(b),
the Trustee and the Company shall comply with the provisions of TIA Section
310(b); provided, however, that there shall be excluded from the operation of
TIA Section 310(b)(1) any indenture or indentures under which other securities
or certificates of interest or participation in other securities of the Company
are outstanding if the requirements for such exclusion set forth in TIA Section
310(b)(1) are met. If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section 7.10, the Trustee shall resign
immediately in the manner and with the effect hereinbefore specified in this
Article 7.

Section 7.11. Preferential Collection of Claims Against Company.

          The Trustee shall comply with TIA Section 311(a), excluding any creditor
relationship listed in TIA Section 311(b). A Trustee which has resigned or
been removed shall be subject to TIA Section 311(a) to the extent indicated
therein. The provisions of TIA Section 311 shall apply to the Company as
obligors of the Notes.

ARTICLE 8

AMENDMENTS, SUPPLEMENTS AND WAIVERS

Section 8.01. Without Consent of Holders.

          The Company and the Guarantors, when authorized by a Board Resolution, and
the Trustee may amend or supplement this Indenture, the Notes or the Guarantees
without notice to or consent of any Holder:

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     (1) to cure any ambiguity, defect or inconsistency, provided that
such amendment or supplement does not, in the opinion of the Trustee,
adversely affect the rights of any Holder in any material respect;

     (2) to provide for uncertificated Notes in addition to or in place
of Certificated Notes;

     (3) to comply with Article 5;

     (4) to comply with any requirements of the Commission in order to
effect or maintain the qualification of this Indenture under the TIA;

     (5) to make any change that would provide any additional benefit or
rights to the Holders;

     (6) to add to the covenants of the Company or a Guarantor for the
benefit of the Holders, or to surrender any right or power herein
conferred upon the Company or any Guarantor;

     (7) to secure the Notes pursuant to the requirements of Section
4.15 or otherwise;

     (8) to reflect the release of a Guarantor from its obligations with
respect to its Guarantee pursuant to Section 10.06 or to add a Guarantor
pursuant to Section 4.20; or

     (9) to make any other change that does not materially and adversely
affect the rights of any Holder under this Indenture.

Section 8.02. With Consent of Holders.

          Subject to Section 6.07, the Company, and the Guarantors, when each is
authorized by a Board Resolution of its Board of Directors, and the Trustee may
amend or supplement this Indenture or the Notes or the Guarantees with the
written consent of the Holders of at least a majority in principal amount of
the outstanding Notes. Subject to Section 6.07, the Holders of a majority in
principal amount of the outstanding Notes may waive compliance by the Company,
or any Guarantor with any provision of this Indenture, the Notes, or the
Guarantees. However, without the consent of each Holder affected, an amendment,
supplement or waiver, including a waiver pursuant to Section 6.04, may not:

     (1) reduce the percentage in principal amount of outstanding Notes
whose Holders must consent to an amendment, supplement or waiver, or
consent to take any action under this Indenture or the Notes;

     (2) reduce the rate of or change the time for payment of interest
(including Additional Interest or defaulted interest) on any Note;

     (3) reduce the principal of or change or have the effect of changing
the fixed maturity of any Notes, or change the date on which any Notes
may be subject to redemption or repurchase, or reduce the redemption or
repurchase price therefor;

     (4) make any Note payable in money other than that stated in the
Note or changing the place of payment from New York, New York;

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     (5) waive a Default in the payment of the principal of, or interest
or premium on, or any redemption payment with respect to, any Note
(except a rescission of acceleration of the Notes by the Holders as
provided in Section 6.02 and a waiver of the payment default that
resulted from such acceleration);

     (6) make any changes in Section 6.04 or 6.07 or this sentence of
Section 8.02;

     (7) affect the subordination or ranking of the Notes or any
Guarantee in a manner adverse to the Holders;

     (8) after such obligation has arisen, amend, change or modify in any
material respect, any obligation of the Company to make and consummate a
Change of Control Offer in the event of a Change of Control or make and
consummate an Excess Proceeds Offer with respect to any Asset Sale that
has been consummated or modify any of the provisions or definitions with
respect thereto; or

     (9) release any Guarantor from any of its obligations under its
Guarantee or this Indenture otherwise than in accordance with the terms
of this Indenture.

          After an amendment, supplement or waiver under this Section 8.02 becomes
effective, the Company shall mail to the Holders a notice briefly describing
the amendment, supplement or waiver. Any failure of the Company to mail such
notice, or any defect therein, shall not, however, in any way impair or affect
the validity of any such supplemental indenture.

          Upon the request of the Company, accompanied by a Board Resolution
authorizing the execution of any such supplemental indenture, and upon the
receipt by the Trustee of evidence reasonably satisfactory to the Trustee of
the consent of the Holders as aforesaid and upon receipt by the Trustee of the
documents described in Section 8.06, the Trustee shall join with the Company
and the Guarantors in the execution of such supplemental indenture unless such
supplemental indenture affects the Trustee’s own rights, duties or immunities
under this Indenture, in which case the Trustee may in its discretion, but
shall not be obligated to, enter into such supplemental indenture.

          It shall not be necessary for the consent of the Holders under this
Section 8.02 to approve the particular form of any proposed amendment,
supplement or waiver, but it shall be sufficient if such consent approves the
substance thereof.

Section 8.03. Compliance with TIA.

          Every amendment to or supplement of this Indenture, the Notes or the
Guarantees shall comply with the TIA as then in effect.

Section 8.04. Revocation and Effect of Consents.

          Until an amendment, waiver or supplement becomes effective, a consent to
it by a Holder is a continuing consent by the Holder and every subsequent
Holder of a Note or portion of a Note that evidences the same debt as the
consenting Holder’s Note, even if notation of the consent is not made on any
Note. Subject to the following paragraph, any such Holder or subsequent Holder
may revoke the consent as to such Holder’s Note or portion of such Note by
notice to the Trustee or the Company received before the date on which the
Trustee receives an Officers’ Certificate certifying that the Holders of

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the requisite principal amount of Notes have consented (and not
theretofore revoked such consent) to the amendment, supplement or waiver.

          The Company may, but shall not be obligated to, fix a record date for the
purpose of determining the Holders entitled to consent to any amendment,
supplement or waiver. If a record date is fixed, then notwithstanding the last
sentence of the immediately preceding paragraph, those Persons who were Holders
at such record date (or their duly designated proxies), and only those Persons,
shall be entitled to revoke any consent previously given, whether or not such
Persons continue to be Holders after such record date. No such consent shall
be valid or effective for more than 90 days after such record date.

          After an amendment, supplement or waiver becomes effective, it shall bind
every Holder, unless it makes a change described in any of clauses (1) through
(9) of Section 8.02, in which case the amendment, supplement or waiver shall
bind only each Holder who has consented to it and every subsequent Holder of a
Note or portion of a Note that evidences the same debt as the consenting
Holder’s Note; provided that any such waiver shall not impair or affect the
right of any Holder to receive payment of principal of and interest on a Note,
on or after the respective due dates expressed in such Note, or to bring suit
for the enforcement of any such payment on or after such respective dates
without the consent of such Holder.

Section 8.05. Notation on or Exchange of Notes.

          If an amendment, supplement, or waiver changes the terms of a Note, the
Trustee may request the Holder to deliver it to the Trustee. In such case, the
Trustee shall place an appropriate notation on the Note about the changed terms
and return it to the Holder. Alternatively, if the Company or the Trustee so
determine, in exchange for the Note the Company shall issue and the Trustee
shall authenticate a new Note that reflects the changed terms. Failure to make
the appropriate notation or issue a new Note shall not affect the validity and
effect of such amendment supplement or waiver.

Section 8.06. Trustee to Sign Amendments, etc.

          The Trustee shall be entitled to receive, and shall be fully protected in
relying upon, an Opinion of Counsel stating that the execution of any
amendment, supplement or waiver authorized pursuant to this Article 8 is
authorized or permitted by this Indenture and that such amendment, supplement
or waiver constitutes the legal, valid and binding obligation of the Company
and any Guarantors, enforceable in accordance with its terms (subject to
customary exceptions). The Trustee may, but shall not be obligated to, execute
any such amendment, supplement or waiver which affects the Trustee’s own
rights, duties or immunities under this Indenture or otherwise.

ARTICLE 9

DISCHARGE OF INDENTURE; DEFEASANCE

Section 9.01. Satisfaction and Discharge of Indenture.

          This Indenture shall be discharged and shall cease to be of further effect
(except those obligations referred to in the penultimate paragraph of this
Section 9.01) as to all outstanding Notes and the Trustee, on written demand of
and at the expense of the Company, shall execute proper instruments
acknowledging satisfaction and discharge of this Indenture, when either:

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     (a) all Notes theretofore authenticated and delivered (other than
(i) Notes which have been destroyed, lost or stolen and which have been
replaced or paid as provided in Section 2.07 and (ii) Notes for whose
payment money has theretofore been deposited in trust or segregated and
held in trust by the Company and thereafter repaid to the Company or
discharged from such trust) have been delivered to the Trustee for
cancellation; or

     (b) (i) either (A) pursuant to Article 3, the Company shall have
given notice to the Trustee and mailed a notice of redemption to each
Holder of the redemption of all of the Notes under arrangements
satisfactory to the Trustee for the giving of such notice, (B) all Notes
not theretofore delivered to the Trustee for cancellation have become due
and payable or will become due and payable at their stated maturity
within one year or (C) are to be called for redemption within one year
under arrangements satisfactory to the Trustee for the giving of notice
of redemption by the Trustee in the name and at the expense of the
Company; (ii) the Company has irrevocably deposited or caused to be
deposited with the Trustee in trust an amount of U.S. legal tender or
U.S. Government Obligations sufficient to pay and discharge the entire
Indebtedness on such Notes not theretofore delivered to the Trustee for
cancellation, for the principal of, premium, if any, and interest on the
Notes to the date of such deposit or the stated maturity or redemption
date, as the case may be; (iii) no Default or Event of Default with
respect to this Indenture or the Notes shall have occurred and be
continuing on the date of such deposit or shall occur as a result of such
deposit and such deposit will not result in a breach or violation of, or
constitute a default under, any other instrument to which the Company is
a party or by which it is bound; (iv) the Company has paid or caused to
be paid all other sums payable hereunder by the Company; (v) the Company
has delivered to the Trustee (A) irrevocable instructions to apply the
deposited money toward payment of the Notes at the maturity or redemption
thereof, and (B) an Officers’ Certificate and an Opinion of Counsel, each
stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of this Indenture have been complied with and
that such satisfaction and discharge does not result in a default under
any Senior Credit Facility (if then in effect) or any other agreement or
instrument then known to such counsel which binds or affects the Company;
and (vi) that from and after the time of deposit, the money deposited
shall not be subject to the rights of holders of Senior Indebtedness
pursuant to the provisions of Article 12 or to the rights of holders of
Guarantor Senior Indebtedness pursuant to the provisions of Article 11.

          Notwithstanding the foregoing paragraph, the Company’s obligations in
Article 2 and Sections 4.01, 4.07, 7.07 and 8.06 shall survive until the Notes
are no longer outstanding pursuant to the last paragraph of Section 2.08.
After the Notes are no longer outstanding, the Company’s obligations in
Sections 7.07, 8.05 and 8.06 shall survive.

          After such delivery or irrevocable deposit, the Trustee upon request shall
acknowledge in writing the discharge of the Company’s and each Guarantor’s
obligations under the Notes, the Guarantees and this Indenture except for those
surviving obligations specified above.

Section 9.02. Legal Defeasance.

          (a) The Company may, at its option by Board Resolution of the Board of
Directors of the Company, at any time, elect to have this Section 9.02 applied
to all outstanding Notes upon compliance with the conditions set forth in
Section 9.04.

          (b) Upon the Company’s exercise under paragraph (a) hereof of the option
applicable to this paragraph (b), the Company and each Guarantor shall, subject
to the satisfaction of the conditions set forth in Section 9.04, be deemed to
have been discharged from their respective obligations with

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respect to all outstanding Notes and the Guarantees on the date the
conditions set forth below are satisfied (hereinafter, “Legal Defeasance”).
For this purpose, Legal Defeasance means that the Company and each Guarantor
shall be deemed to have paid and discharged the entire Indebtedness represented
by the outstanding Notes and the Guarantees, which shall thereafter be deemed
to be “outstanding” only for the purposes of Section 9.05 and the other
Sections of this Indenture referred to in (i) and (ii) below, and to have
satisfied all their other respective obligations under such Notes and this
Indenture (and the Trustee, on demand of and at the expense of the Company,
shall execute proper instruments acknowledging the same), and Holders and any
amounts deposited under Section 9.04 hereof shall cease to be subject to any
obligations to, or the rights of, any holder of Senior Indebtedness under
Article 12 or otherwise or any holder of Guarantor Senior Indebtedness under
Article 11 or otherwise, except for the following provisions, which shall
survive until otherwise terminated or discharged hereunder: (i) the rights of
Holders of outstanding Notes to receive solely from the trust fund described in
Section 9.05 hereof, and as more fully set forth in such Section, payments in
respect of the principal of, premium, if any, and interest on such Notes when
such payments are due, (ii) the Company’s obligations with respect to such
Notes under Article 2 and Section 4.07, (iii) the rights, powers, trusts,
duties and immunities of the Trustee hereunder and the Company’s obligations in
connection therewith and (iv) this Article 9. Subject to compliance with this
Article 9, the Company may exercise its option under this Section 9.02
notwithstanding the prior exercise of its option under Section 9.03 with
respect to the Notes.

Section 9.03. Covenant Defeasance.

          (a) The Company may, at its option by Board Resolution of the Board of
Directors of the Company, at any time, elect to have this Section 9.03 be
applied to all outstanding Notes upon compliance with the conditions set forth
in Section 9.04.

          (b) Upon the Company’s exercise under paragraph (a) hereof of the option
applicable to this paragraph (b), the Company and each Guarantor shall, subject
to the satisfaction of the conditions set forth in Section 9.04, be released
from their respective obligations under the covenants contained in Sections
4.05, 4.08, 4.09 and 4.10 through 4.23, inclusive, and Article 5 hereof with
respect to the outstanding Notes and the Guarantees on and after the date the
conditions set forth below are satisfied (hereinafter, “Covenant Defeasance”),
and the Notes and the Guarantees shall thereafter be deemed not “outstanding”
for the purposes of any direction, waiver, consent or declaration or act of
Holders (and the consequences of any thereof) in connection with such
covenants, but shall continue to be deemed “outstanding” for all other purposes
hereunder and Holders and any amounts deposited under Section 9.04 shall cease
to be subject to any obligations to the rights of, any holder of Senior
Indebtedness under Article 12 or otherwise or any holder of Guarantor Senior
Indebtedness under Article 11 or otherwise. For this purpose, such Covenant
Defeasance means that, with respect to the outstanding Notes and the
Guarantees, the Company and each Guarantor may omit to comply with and shall
have no liability in respect of any term, condition or limitation set forth in
any such covenant, whether directly or indirectly, by reason of any reference
elsewhere herein to any such covenant or by reason of any reference in any such
covenant to any other provision herein or in any other document and such
omission to comply shall not constitute a Default or an Event or Default under
Section 6.01(c), 6.01(d) or 6.01(e) hereof, but, except as specified above, the
remainder of this Indenture, and such Notes and the Guarantees shall be
unaffected thereby. In addition, upon the Company’s exercise under paragraph
(a) hereof of the option applicable to this paragraph (b), subject to the
satisfaction of the conditions set forth in Section 9.04 hereof, Sections
6.01(c), 6.01(d), 6.01(e), 6.01(f) and 6.01(g) shall not constitute Events of
Default.

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Section 9.04. Conditions to Legal Defeasance or Covenant Defeasance.

          The following shall be the conditions to the application of either Section
9.02 or 9.03 to the outstanding Notes and the Guarantees:

          In order to exercise either Legal Defeasance or Covenant Defeasance:

     (a) the Company must irrevocably deposit with the Trustee (or other
qualifying trustee), in trust, for the benefit of the Holders, U.S. legal
tender or U.S. Government Obligations, or a combination thereof, in such
amounts as will be sufficient, in the opinion of a nationally recognized
firm of independent public accountants, to pay the principal of, premium,
if any, and interest on the Notes on the scheduled due dates or on the
applicable Redemption Date, as the case may be, provided that the Trustee
shall have received an irrevocable written order from the Company
instructing the Trustee to apply such U.S. legal tender or the proceeds
of such U.S. Government Obligations to said payments with respect to the
Notes;

     (b) in the case of an election under Section 9.02, the Company shall
have delivered to the Trustee an Opinion of Counsel reasonably acceptable
to the Trustee confirming that (i) the Company has received from, or
there has been published by, the Internal Revenue Service a ruling or
(ii) since the date of this Indenture, there has been a change in the
applicable federal income tax law, in either case to the effect that, and
based thereon such Opinion of Counsel shall confirm that, the Holders
will not recognize income, gain or loss for federal income tax purposes
as a result of such deposit, Legal Defeasance and discharge and will be
subject to federal income tax on the same amounts, in the same manner and
at the same times as would have been the case if such deposit, Legal
Defeasance and discharge had not occurred;

     (c) in the case of an election under Section 9.03, the Company shall
have delivered to the Trustee an Opinion of Counsel confirming that the
Holders will not recognize income, gain or loss for federal income tax
purposes as a result of such deposit, Covenant Defeasance and discharge
and will be subject to federal income tax on the same amounts, in the
same manner and at the same times as would have been the case if such
deposit, Covenant Defeasance and discharge had not occurred;

     (d) no Default or Event of Default shall have occurred and be
continuing on the date of such deposit or insofar as Sections 6.01(h) and
6.01(i) are concerned, at any time in the period ending on the 91st day
after the date of such deposit or, if longer, ending on the day following
the expiration of the longest preference period under any Bankruptcy Law
(it being understood that this condition shall not be deemed to be
satisfied until the expiration of such period);

     (e) such Legal Defeasance or Covenant Defeasance shall not result in
a breach or violation of or constitute a default under this Indenture or
any other material agreement or instrument to which the Company or any of
its Subsidiaries is a party or by which the Company or any of its
Subsidiaries is bound;

     (f) the Company shall have delivered to the Trustee an Officers’
Certificate stating that the deposit was not made by the Company with the
intent of preferring the Holders over any other creditors of the Company
or with the intent of defeating, hindering, delaying or defrauding any
other creditors of the Company or others;

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     (g) the Company shall have delivered to the Trustee an Officers’
Certificate and an Opinion of Counsel, each stating that all conditions
precedent provided for or relating to the Legal Defeasance or the
Covenant Defeasance have been complied with;

     (h) the Company shall have delivered to the Trustee an Opinion of
Counsel to the effect that (i) the trust funds will not be subject to any
rights of any holders of Senior Indebtedness of the Company or Guarantor
Senior Indebtedness of any Guarantor, including, without limitation,
those arising under this Indenture, and (ii) assuming no intervening
event of the type described in Sections 6.01(h) and 6.01(i) between the
date of deposit and the 91st day following the deposit or, if longer,
ending on the day following the expiration of the longest preference
period under any Bankruptcy Law (it being understood that this condition
should not be deemed to be satisfied until the expiration of such period)
and further assuming that no Holder is an insider of the Company, after
the 91st day following the deposit or, if longer, ending on the day
following the expiration of the longest preference period under any
Bankruptcy Law (it being understood that this condition should not be
deemed to be satisfied until the expiration of such period), the trust
funds will not be subject to the effect of any applicable Bankruptcy Law;

     (i) such Legal Defeasance or Covenant Defeasance shall not cause the
Trustee to have a conflicting interest for purposes of the TIA with
respect to any securities of the Company; and

     (j) the Company shall have delivered to the Trustee an Opinion of
Counsel stating that, as a result of such Legal Defeasance or Covenant
Defeasance, neither the trust nor the Trustee will be required to
register as an investment company under the Investment Company Act of
1940, as amended.

Section 9.05. Application of Trust Money.

          All money and U.S. Government Obligations (including the proceeds thereof)
deposited with the Trustee pursuant to Section 9.01 or 9.04 in respect of the
outstanding Notes shall be held in trust and applied by the Trustee, in
accordance with the provisions of such Notes and this Indenture, to the
payment, either directly or through any Paying Agent as the Trustee may
determine, to the Holders of such Notes, of all sums due and to become due
thereon in respect of principal, premium, if any, and accrued interest, but
such money need not be segregated from other funds except to the extent
required by law.

          The Company and the Guarantors shall pay and indemnify the Trustee against
any tax, fee or other charge imposed on or assessed against the U.S. Government
Obligations deposited pursuant to Section 9.01 or 9.04 hereof or the principal,
premium, if any, and interest received in respect thereof other than any such
tax, fee or other charge which by law is for the account of the Holders.

          Anything in this Article 9 to the contrary notwithstanding, the Trustee
shall deliver or pay to the Company from time to time upon a written request of
the Company in the form of an Officers’ Certificate any money or U.S.
Government Obligations held by it as provided in Section 9.01 or 9.04 hereof
which, in the opinion of a nationally-recognized firm of independent public
accountants expressed in a written certification thereof delivered to the
Trustee, are in excess of the amount thereof which would then be required to be
deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

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Section 9.06. Repayment to the Company.

          Subject to Sections 9.01, 9.02, 9.03, 9.04, 9.05 and 9.07, the Trustee
and the Paying Agent shall promptly pay to the Company upon request any excess
U.S. legal tender or U.S. Government Obligations held by them at any time and
thereupon shall be relieved from all liability with respect to such money. The
Trustee and the Paying Agent shall pay to the Company upon request any money
held by them for the payment of principal, premium, if any, or interest that
remains unclaimed for two years; provided that the Trustee or such Paying
Agent, before being required to make any payment, may at the expense of the
Company cause to be published once in a newspaper of general circulation in the
City of New York or mail to each Holder entitled to such money notice that such
money remains unclaimed, and that after a date specified therein which shall be
at least 30 days from the date of such publication or mailing, any unclaimed
balance of such money then remaining will be repaid to the Company. After
payment to the Company, Holders entitled to such money must look to the Company
for payment as general creditors unless an applicable law designates another
Person.

Section 9.07. Reinstatement.

          If the Trustee or Paying Agent is unable to apply any money or U.S.
Government Obligations in accordance with Section 9.01, 9.02 or 9.03 by reason
of any legal proceeding or by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such
application, the Company’s and each Guarantor’s obligations under this
Indenture, the Notes and the Guarantees shall be revived and reinstated as
though no deposit had occurred pursuant to this Article 9 until such time as
the Trustee or Paying Agent is permitted to apply all such U.S. legal tender or
U.S. Government Obligations in accordance with Section 9.01; provided, however,
that if the Company or the Guarantors have made any payment of principal of,
premium, if any, or accrued interest on any Notes because of the reinstatement
of their obligations, the Company and each such Guarantor shall be subrogated
to the rights of the Holders of such Notes to receive such payment from the
money or U.S. Government Obligations held by the Trustee or Paying Agent.

ARTICLE 10

GUARANTEE

Section 10.01. Unconditional Guarantee.

          Each Guarantor hereby unconditionally, jointly and severally, guarantees
to each Holder of a Note authenticated by the Trustee and to the Trustee and
its successors and assigns that the principal of, premium thereon (if any) and
interest on the Notes will be promptly paid in full when due, subject to any
applicable grace period, whether at maturity, by acceleration or otherwise, and
interest on the overdue principal and interest on any overdue interest on the
Notes and all other obligations of the Company to the Holders or the Trustee
hereunder or under the Notes will be promptly paid in full or performed, all in
accordance with the terms hereof and thereof; subject, however, to the
limitations set forth in Section 10.03. Each Guarantor hereby agrees that its
obligations hereunder shall be unconditional, irrespective of the validity,
regularity or enforceability of the Notes or this Indenture, the absence of any
action to enforce the same, any waiver or consent by any Holder with respect to
any provisions hereof or thereof, the recovery of any judgment against the
Company, any action to enforce the same or any other circumstance which might
otherwise constitute a legal or equitable discharge or defense of a Guarantor.
Each Guarantor hereby waives diligence, presentment, demand of payment, filing
of claims with a court in the event of insolvency or bankruptcy of the Company,
any right to require a proceeding first against the Company, protest, notice
and all demands whatsoever and covenants that the Guarantee will not be
discharged

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except by complete performance of the obligations contained in the Notes and
this Indenture. If any Holder or the Trustee is required by any court or
otherwise to return to the Company, any Guarantor, or any custodian, trustee,
liquidator or other similar official acting in relation to the Company or any
Guarantor, any amount paid by the Company or any Guarantor to the Trustee or
such Holder, each Guarantee, to the extent theretofore discharged, shall be
reinstated in full force and effect. Each Guarantor further agrees that, as
between a Guarantor, on the one hand, and the Holders and the Trustee, on the
other hand, (x) the maturity of the obligations Guaranteed hereby may be
accelerated as provided in Article 6 for the purpose of each Guarantee,
notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations guaranteed hereby, and (y) in the
event of any acceleration of such obligations as provided in Article 6, such
obligations (whether or not due and payable) shall become due and payable by
each Guarantor for the purpose of each Guarantee.

          Each Guarantor also agrees to pay any and all costs and expenses
(including reasonable attorneys’ fees) incurred by the Trustee or any Holder in
enforcing any rights under this Article 10.

Section 10.02. Severability.

          In case any provision of this Article 10 shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.

Section 10.03. Limitation on Guarantor’s Liability; Contribution.

          Each Guarantor, and by its acceptance hereof, each Holder and the Trustee,
hereby confirm that it is the intention of all such parties that the Guarantee
does not constitute a fraudulent transfer or conveyance for purposes of Title
11 of the United States Code, as amended, the Uniform Fraudulent Conveyance
Act, the Uniform Fraudulent Transfer Act or any similar U.S. Federal or state
or other applicable law. To effectuate the foregoing intention, each Holder
and each Guarantor hereby irrevocably agree that the obligations of a Guarantor
under its Guarantee shall be limited to the maximum amount as will, after
giving effect to all other contingent and fixed liabilities of such Guarantor,
and after giving effect to any collections from or payments made by or on
behalf of such Guarantor in respect of the obligations of such Guarantor
pursuant to the second paragraph of Section 10.03, result in the obligations of
such Guarantor not constituting such a fraudulent transfer or conveyance.

          In order to provide for just and equitable contribution among the
Guarantors, the Guarantors agree, inter se, that in the event any payment or
distribution is made by any Guarantor (a “Funding Guarantor”) under a Guarantee
such Funding Guarantor shall be entitled to a contribution from all other
Guarantors in a pro rata amount, based on the Adjusted Net Assets of each
Guarantor (including the Funding Guarantor), determined in accordance with
GAAP, subject to the first paragraph of this Section 10.03, for all payments,
damages and expenses incurred by such Funding Guarantor in discharging the
Company’s obligations with respect to the Notes or any other Guarantor’s
obligations under a Guarantee.

Section 10.04. Successors and Assigns.

          This Article 10 shall be binding upon each Guarantor and its successors
and assigns and shall ensure to the benefit of the successors and assigns of
the Trustee and the Holders and, in the event of any transfer or assignment of
rights by any Holder or the Trustee, the rights and privileges conferred upon
that party in this Indenture and in the Notes shall automatically extend to and
be vested in such transferee or assignee, all subject to the terms and
conditions of this Indenture.

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Section 10.05. No Waiver.

          Neither a failure nor a delay on the part of either the Trustee or the
Holders in exercising any right, power or privilege under this Article 10 shall
operate as a waiver thereof, nor shall a single or partial exercise thereof
preclude any other or further exercise of any right, power or privilege. The
rights, remedies and benefits of the Trustee and the Holders herein expressly
specified are cumulative and not exclusive of any other rights, remedies or
benefits which either may have under this Article 10 at law, in equity, by
statute or otherwise.

Section 10.06. Release of Guarantor.

          A Guarantor shall be released from all of its obligations under its
Guarantee if:

     (i) the Guarantor has sold all of its assets or the Company and its
Subsidiaries have sold all of the Capital Stock of the Guarantor owned by
them, in each case in a transaction in compliance with Section 4.13;

     (ii) the Guarantor merges with or into or consolidates with, or
transfers all or substantially all of its assets to, the Company or
another Guarantor in a transaction in compliance with Section 5.01; or

     (iii) such Guarantor is designated an Unrestricted Subsidiary in
compliance with Section 4.11;

and in each such case, the Company have delivered to the Trustee an Officers’
Certificate and an Opinion of Counsel, each stating that all conditions
precedent herein provided for relating to such transactions have been complied
with.

Section 10.07. Execution of Supplemental Indenture for Future Guarantors.

          Each Subsidiary which is required to become a Guarantor pursuant to
Section 4.20 shall, and the Company shall cause each such Subsidiary to,
promptly execute and deliver to the Trustee a supplemental indenture
substantially in the form of Exhibit F hereto pursuant to which such Subsidiary
shall become a Guarantor under this Article 10 and shall guarantee the
obligations of the Company under the Notes and this Indenture. Concurrently
with the execution and delivery of such supplemental indenture, the Company
shall deliver to the Trustee an Opinion of Counsel to the effect that such
supplemental indenture has been duly authorized, executed and delivered by such
Subsidiary and that, subject to the application of bankruptcy, insolvency,
moratorium, fraudulent conveyance or transfer and other similar laws relating
to creditors’ rights generally and to the principles of equity, whether
considered in a proceeding at law or in equity, the Guarantee of such Guarantor
is a legal, valid and binding obligation of such Guarantor, enforceable against
such Guarantor in accordance with its terms.

Section 10.08. Execution and Delivery of Guarantee.

          To evidence the Guarantee set forth in this Article 10, each Guarantor
hereby agrees that a notation of such Guarantee shall be placed on each Note
authenticated and made available for delivery by the Trustee and that this
Guarantee shall be executed on behalf of each Guarantor by the manual or
facsimile signature of two Officers or an Officer and the Secretary of each
Guarantor. Each Guarantor hereby agrees that the Guarantee set forth in
Section 10.01 shall remain in full force and effect

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notwithstanding any failure to endorse on each Note a notation of such Guarantee.
If an Officer of a Guarantor whose signature is on the Guarantee no longer
holds that office at the time the Trustee authenticates the Note on which the
Guarantee is endorsed, the Guarantee shall be valid nevertheless. The delivery
of any Note by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the Guarantee set forth in this Indenture on behalf
of each Guarantor.

Section 10.09. Subordination of Subrogation and Other Rights.

          Each Guarantor hereby agrees that any claim against the Company that
arises from the payment, performance or enforcement of such Guarantor’s
obligations under the Guarantee or this Indenture, including, without
limitation, any right of subrogation, shall be subject and subordinate to, and
no payment with respect to any such claim of such Guarantor shall be made
before, the payment in full in cash of all outstanding Notes in accordance with
the provisions provided therefor in this Indenture.

ARTICLE 11

SUBORDINATION OF GUARANTEE

Section 11.01. Guarantee Obligations Subordinated to Guarantor Senior Indebtedness.

          Each Guarantor covenants and agrees, and the Trustee and each Holder, by
its acceptance of the Notes, likewise covenants and agrees, that to the extent
and in the manner hereinafter set forth in this Article 11, the Indebtedness
represented by the Guarantee and the payment of all obligations on the Notes
pursuant to the Guarantee by such Guarantor are hereby expressly made
subordinate and subject in right of payment as provided in this Article 11 to
the prior indefeasible payment in full in cash of all Guarantor Senior
Indebtedness of such Guarantor whether outstanding on the Issue Date or
thereafter incurred.

          This Section 11.01 and the following Sections 11.02 through 11.11 shall
constitute a continuing offer to all Persons who, in reliance upon such
provisions, become holders of or continue to hold Guarantor Senior Indebtedness
of any Guarantor; such provisions are made for the benefit of the holders of
Guarantor Senior Indebtedness of each Guarantor; and such holders are made
obligees hereunder and they or each of them may enforce such provisions.

Section 11.02. Payment Over of Proceeds upon Dissolution, etc.

          In the event of (a) any insolvency or bankruptcy case or proceeding, or
any receivership, liquidation, reorganization or other similar case or
proceeding in connection therewith, relative to any Guarantor or to its
creditors, as such, or to its assets, whether voluntary or involuntary, or (b)
any liquidation, dissolution or other winding-up of any Guarantor, whether
voluntary or involuntary and whether or not involving insolvency or bankruptcy
or (c) any general assignment for the benefit of creditors or any other
marshalling of assets or liabilities of any Guarantor, then and in any such
event:

     (1) the holders of all Guarantor Senior Indebtedness of such
Guarantor shall be entitled to receive indefeasible payment in full in
cash of all amounts due on or in respect of all such Guarantor Senior
Indebtedness before the Holders are entitled to receive, pursuant to the
Guarantee of such Guarantor, any payment or distribution of any kind or
character (other than a payment or distribution in the form of Permitted
Junior Securities or from the trust described in Section

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9.01 or Section 9.04) by such Guarantor on account of any of the
obligations of such Guarantor under its Guarantee;

     (2) any payment or distribution of assets of such Guarantor of any
kind or character, whether in cash, property or securities, by set-off or
otherwise, to which the Holders or the Trustee would be entitled but for
the subordination provisions of this Article 11 (other than a payment or
distribution in the form of Permitted Junior Securities or from the trust
described in Section 9.01 or Section 9.04) shall be paid by the
liquidating trustee or agent or other Person making such payment or
distribution, whether a trustee in bankruptcy, a receiver or liquidating
trustee or otherwise, directly to the holders of Guarantor Senior
Indebtedness of such Guarantor or their representative or representatives
or to the trustee or trustees under any indenture under which any
instruments evidencing any of such Guarantor Senior Indebtedness may have
been issued, ratably according to the aggregate amounts remaining unpaid
on account of such Guarantor Senior Indebtedness held or represented by
each, to the extent necessary to make payment in full in cash of all such
Guarantor Senior Indebtedness remaining unpaid, after giving effect to
any concurrent payment or distribution to the holders of such Guarantor
Senior Indebtedness; and

     (3) in the event that, notwithstanding the foregoing provisions of
this Section 11.02, the Trustee or any Holder shall have received any
payment or distribution of assets of such Guarantor of any kind or
character, whether in cash, Property or securities, including, without
limitation, by way of set-off or otherwise, in respect of any of the
obligations of any Guarantor pursuant to its Guarantee (other than a
payment or distribution in the form of Permitted Junior Securities or
from the trust described in Section 9.01 or Section 9.04) before all
Guarantor Senior Indebtedness of such Guarantor is indefeasibly paid in
full, then and in such event such payment or distribution shall be paid
over or delivered forthwith to the trustee in bankruptcy, receiver,
liquidating trustee, custodian, assignee, agent or other Person making
payment or distribution of assets of such Guarantor for application to
the payment of all such Guarantor Senior Indebtedness remaining unpaid,
to the extent necessary to pay all of such Guarantor Senior Indebtedness
in full in cash or, as acceptable to the holders of such Guarantor Senior
Indebtedness, any other manner, after giving effect to any concurrent
payment or distribution to or for the holders of such Guarantor Senior
Indebtedness.

          The consolidation of a Guarantor with, or the merger of a Guarantor with
or into, another Person or the liquidation or dissolution of a Guarantor
following the conveyance, transfer or lease of its Properties and assets
substantially as an entirety to another Person upon the terms and conditions
set forth in Article 5 shall not be deemed a dissolution, winding-up,
liquidation, reorganization, assignment for the benefit of creditors or
marshalling of assets and liabilities of such Guarantor for the purposes of
this Article 11 if the Person formed by such consolidation or the surviving
entity of such merger or the Person which acquires by conveyance, transfer or
lease such Properties and assets substantially as an entirety, as the case may
be, shall, as a part of such consolidation, merger, conveyance, transfer or
lease, comply with the conditions set forth in Article 5.

		
	 	Section 11.03. Suspension of Guaranteed Obligations When Guarantor Senior Indebtedness in Default.

          (a) Unless Section 11.02 shall be applicable, upon the occurrence of a
Payment Default on Designated Senior Indebtedness of any Guarantor no payment
or distribution (other than a payment or distribution in the form of Permitted
Junior Securities or from the trust described in Section 9.01 or Section 9.04)
of any assets or securities of a Guarantor of any kind or character (including,
without limitation, cash, Property and any payment or distribution which may be
payable or deliverable by reason

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of the payment of any other Indebtedness of such Guarantor being
subordinated to its obligations under its Guarantee) shall be made by such
Guarantor, including, without limitation, by way of set-off or otherwise, for
or on account of its obligations under its Guarantee, or for or on account of
the purchase, redemption or other acquisition of the Notes and neither the
Trustee nor any Holder shall take or receive from any Guarantor, directly or
indirectly in any manner, payment in respect of all or any portion of its
obligations under its Guarantee commencing on the date of receipt by the
Trustee of a written notice from the representative of the holders of such
Guarantor Senior Indebtedness (the “Guarantor Representative”) of the
occurrence of a Payment Default, and in any such event, such prohibition shall
continue until such Payment Default is cured, waived in writing or otherwise
ceases to exist. At such time as the prohibition set forth in the preceding
sentence shall no longer be in effect, subject to the provisions of the
following paragraph (b), such Guarantor shall resume making any and all
required payments in respect of its obligations under its Guarantee, including
any missed payments.

          (b) Unless Section 11.02 shall be applicable, upon the occurrence of a
Non-Payment Event of Default on Designated Senior Indebtedness of any
Guarantor, no payment or distribution (other than a payment or distribution in
the form of Permitted Junior Securities or from the trust described in Section
9.01 or Section 9.04) of any assets of such Guarantor of any kind or character
(including, without limitation, cash, Property and any payment or distribution
which may be payable or deliverable by reason of the payment of any other
Indebtedness of such Guarantor being subordinated to its obligations under its
Guarantee) shall be made by such Guarantor, including, without limitation, by
way of set-off or otherwise, on account of any of its obligations under its
Guarantee, or on account of the purchase, redemption, defeasance or other
acquisition of the Notes and neither the Trustee nor any Holder shall take or
receive from any Guarantor, directly or indirectly in any manner, payment in
respect of all or any portion of its obligations under its Guarantee for a
period (the “Guarantee Payment Blockage Period”) commencing on the date of
receipt by the Trustee of written notice from the Guarantor Representative of
such Non-Payment Event of Default, unless and until (subject to any blockage of
payments that may then be in effect under the preceding paragraph (a)) the
earliest to occur of the following events: (w) more than 179 days shall have
elapsed since the date of receipt of such written notice by the Trustee, (x)
such Non-Payment Event of Default shall have been cured or waived in writing or
shall have ceased to exist, (y) such Designated Senior Indebtedness shall have
been discharged or indefeasibly paid in full in cash or (z) such Guarantee
Payment Blockage Period shall have been terminated by written notice to such
Guarantor or the Trustee from the Guarantor Representative initiating such
Guarantee Payment Blockage Period, or the holders of at least a majority in
principal amount of such issue of Designated Senior Indebtedness, after which,
in the case of clause (w), (x), (y) or (z), such Guarantor shall resume making
any and all required payments in respect of its obligations under its
Guarantee, including any missed payments. Notwithstanding any other provisions
of this Indenture, no Non-Payment Event of Default with respect to Designated
Senior Indebtedness which existed or was continuing on the date of the
commencement of any Guarantee Payment Blockage Period initiated by the
Guarantor Representative shall be, or be made, the basis for the commencement
of a second Guarantee Payment Blockage Period initiated by the Guarantor
Representative unless such Non-Payment Event of Default shall have been waived
for a period of not less than 90 consecutive days. In no event shall a
Guarantee Payment Blockage Period extend beyond 179 days from the date of the
receipt by the Trustee of the notice referred to in this Section 11.03(b) or,
in the event of a Non-Payment Event of Default which formed the basis for a
Payment Blockage Period under Section 12.03(b) hereof, 179 days from the date
of the receipt by the Trustee of the notice referred to in Section 12.03(b)
(the “Initial Guarantee Blockage Period”). Any number of additional Guarantee
Payment Blockage Periods may be commenced during the Initial Guarantee
Blockage Period; provided, however, that no such additional Guarantee Payment
Blockage Period shall extend beyond the Initial Guarantee Blockage Period.
After the expiration of the Initial Guarantee Blockage Period, no Guarantee
Payment Blockage Period may be commenced under this Section 11.03(b) and no
Payment Blockage

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Period may be commenced under Section 12.03(b) until at least 360
consecutive days have elapsed from the day of commencement of the Initial
Guarantee Blockage Period.

          (c) In the event that, notwithstanding the foregoing, the Trustee or any
Holder shall have received any payment from a Guarantor prohibited by the
foregoing provisions of this Section 11.03, then and in such event such payment
shall be paid over and delivered forthwith to the Guarantor Representative
initiating the Guarantee Payment Blockage Period, in trust for distribution to
the holders of Guarantor Senior Indebtedness or, if no amounts are then due in
respect of Guarantor Senior Indebtedness, promptly returned to the Guarantor,
or as a court of competent jurisdiction shall direct.

Section 11.04. Trustee’s Relation to Guarantor Senior Indebtedness.

          The Trustee and any agent of any Guarantor or the Trustee shall be
entitled to all the rights set forth in this Article 11 with respect to any
Guarantor Senior Indebtedness which may at any time be held by it in its
individual or any other capacity to the same extent as any other holder of
Guarantor Senior Indebtedness and nothing in this Indenture shall deprive the
Trustee or any such agent of any of its rights as such holder.

          With respect to the holders of Guarantor Senior Indebtedness, the Trustee
undertakes to perform or to observe only such of its covenants and obligations
as are specifically set forth in this Article 11, and no implied covenants or
obligations with respect to the holders of Guarantor Senior Indebtedness shall
be read into this Indenture against the Trustee. The Trustee shall not be
deemed to owe any fiduciary duty to the holders of Guarantor Senior
Indebtedness and the Trustee shall not be liable to any holder of Guarantor
Senior Indebtedness if it shall mistakenly pay over or deliver to Holders, such
Guarantor or any other Person, moneys or assets to which any holder of
Guarantor Senior Indebtedness shall be entitled by virtue of this Article 11 or
otherwise. Nothing in this Section 11.04 shall affect the obligation of any
other such Person receiving such payment or distribution from the Trustee or
any other Agent to hold such payment for the benefit of, and to pay such
payment over to, the holders of Guarantor Senior Indebtedness.

Section 11.05. Subrogation.

          Upon the payment in full of all amounts payable under or in respect of all
Guarantor Senior Indebtedness of a Guarantor, the Holders shall be subrogated
to the rights of the holders of such Guarantor Senior Indebtedness to receive
payments and distributions of cash, property and securities of such Guarantor
made on such Guarantor Senior Indebtedness until all amounts due to be paid
under the Guarantee shall be paid in full. For the purposes of such
subrogation, no payments or distributions to holders of Guarantor Senior
Indebtedness of any cash, property or securities to which Holders or the
Trustee would be entitled except for the provisions of this Article 11, and no
payments over pursuant to the provisions of this Article 11 to holders of
Guarantor Senior Indebtedness by Holders or the Trustee, shall, as among each
Guarantor, its creditors other than holders of Guarantor Senior Indebtedness
and the Holders, be deemed to be a payment or distribution by such Guarantor to
or on account of such Guarantor Senior Indebtedness.

          If any payment or distribution to which the Holders would otherwise have
been entitled but for the provisions of this Article 11 shall have been
applied, pursuant to the provisions of this Article 11, to the payment of all
amounts payable under Guarantor Senior Indebtedness, then and in such case,
the Holders shall be entitled to receive from the holders of such Guarantor
Senior Indebtedness at the time outstanding any payments or distributions
received by such holders of Guarantor Senior Indebtedness in

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excess of the amount sufficient to pay all amounts payable under or in
respect of such Guarantor Senior Indebtedness in full in cash.

Section 11.06. Guarantee Subordination Provisions Solely to Define Relative Rights.

          The subordination provisions of this Article 11 are and are intended
solely for the purpose of defining the relative rights of the Holders on the
one hand and the holders of Guarantor Senior Indebtedness on the other hand.
Nothing contained in this Article 11 or elsewhere in this Indenture or in the
Notes is intended to or shall (a) impair, as among each Guarantor, its
creditors other than holders of its Guarantor Senior Indebtedness and the
Holders, the obligation of such Guarantor, which is absolute and unconditional,
to make payments to the Holders in respect of its obligations under its
Guarantee in accordance with its terms; or (b) affect the relative rights
against such Guarantor of the Holders and creditors of such Guarantor other
than the holders of the Guarantor Senior Indebtedness; or (c) prevent the
Trustee or any Holder from exercising all remedies otherwise permitted by
applicable law upon a Default or an Event of Default under this Indenture,
subject to the rights, if any, under this Article 11 of the holders of
Guarantor Senior Indebtedness (1) in any case, proceeding, dissolution,
liquidation or other winding-up, assignment for the benefit of creditors or
other marshalling of assets and liabilities of the Company referred to in
Section 11.02, to receive, pursuant to and in accordance with such Section,
cash, property and securities otherwise payable or deliverable to the Trustee
or such Holder, or (2) under the conditions specified in Section 11.03, to
prevent any payment prohibited by such Section or enforce their rights pursuant
to Section 11.03(c).

          The failure by any Guarantor to make a payment in respect of its
obligations on its Guarantee by reason of any provision of this Article 11
shall not be construed as preventing the occurrence of a Default or an Event of
Default hereunder.

Section 11.07. Trustee to Effectuate Subordination.

          Each Holder by his acceptance thereof authorizes and directs the Trustee
on his behalf to take such action as may be necessary or appropriate to
effectuate the subordination provided in this Article 11 and appoints the
Trustee his attorney-in-fact for any and all such purposes, including, in the
event of any dissolution, winding-up, liquidation or reorganization of a
Guarantor whether in bankruptcy, insolvency, receivership proceedings, or
otherwise, the timely filing of a claim for the unpaid balance of the
indebtedness of such Guarantor owing to such Holder in the form required in
such proceedings.

Section 11.08. No Waiver of Subordination Provisions.

          (a) No right of any present or future holder of any Guarantor Senior
Indebtedness to enforce subordination as herein provided shall at any time in
any way be prejudiced or impaired by any act or failure to act on the part of a
Guarantor or by any act or failure to act, in good faith, by any such holder,
or by any non-compliance by such Guarantor with the terms, provisions and
covenants of this Indenture, regardless of any knowledge thereof any such
holder may have or be otherwise charged with.

          (b) Without limiting the generality of paragraph (a) of this Section
11.08, the holders of Guarantor Senior Indebtedness may, at any time and from
time to time, without the consent of or notice to the Trustee or the Holders,
without incurring responsibility to the Holders and without impairing or
releasing the subordination provided in this Article 11 or the obligations
hereunder of the Holders to the holders of Guarantor Senior Indebtedness, do
any one or more of the following: (1) change the manner, place or terms of
payment or extend the time of payment of, or renew or alter, Guarantor Senior

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Indebtedness or any instrument evidencing the same or any agreement under which
Guarantor Senior Indebtedness is outstanding; (2) sell, exchange, release or
otherwise deal with any property pledged, mortgaged or otherwise securing
Guarantor Senior Indebtedness; (3) release any Person liable in any manner for
the collection or payment of Guarantor Senior Indebtedness; and (4) exercise or
refrain from exercising any rights against a Guarantor and any other Person;
provided, however, that in no event shall any such actions limit the right of
the Holders to take any action to accelerate the maturity of the obligations
under the Guarantees pursuant to Article 6 hereof or to pursue any rights or
remedies hereunder or under applicable laws if the taking of such action does
not otherwise violate the terms of this Indenture.

Section 11.09. Notice to Trustee.

          (a) A Guarantor shall give prompt written notice to the Trustee of any
fact known to such Guarantor which would prohibit the making of any payment to
or by the Trustee at its Corporate Trust Office in respect of the Notes.
Notwithstanding the provisions of this Article 11 or any other provision of
this Indenture, the Trustee shall not be charged with knowledge of the
existence of any facts which would prohibit the making of any payment to or by
the Trustee in respect of the obligations under the Guarantees, unless and
until the Trustee shall have received written notice thereof from such
Guarantor or a holder of Guarantor Senior Indebtedness or from any trustee,
fiduciary or agent therefor; and, prior to the receipt of any such written
notice, the Trustee, subject to the provisions of this Section 11.09, shall be
entitled in all respects to assume that no such facts exist; provided, however,
that if the Trustee shall not have received the notice provided for in this
Section 11.09 at least two Business Days prior to the date upon which by the
terms hereof any money may become payable for any purpose under this Indenture
(including, without limitation, the payment of the principal of, premium, if
any, or interest on any obligation under a Guarantee), then, anything herein
contained to the contrary notwithstanding but without limiting the rights and
remedies of the holders of Guarantor Senior Indebtedness or any trustee,
fiduciary or agent therefor, the Trustee shall have full power and authority to
receive such money and to apply the same to the purpose for which such money
was received and shall not be affected by any notice to the contrary which may
be received by it within two Business Days prior to such date; nor shall the
Trustee be charged with knowledge of the curing of any such default or the
elimination of the act or condition preventing any such payment unless and
until the Trustee shall have received an Officers’ Certificate to such effect.

          (b) In the event that the Trustee determines in good faith that further
evidence is required with respect to the right of any Person as a holder of
Guarantor Senior Indebtedness to participate in any payment or distribution
pursuant to this Article 11, the Trustee may request such Person to furnish
evidence to the reasonable satisfaction of the Trustee as to the amount of
Guarantor Senior Indebtedness held by such Person, the extent to which such
Person is entitled to participate in such payment or distribution and any other
facts pertinent to the rights of such Person under this Article 11, and if such
evidence is not furnished, the Trustee may defer any payment to such Person
pending judicial determination as to the right of such Person to receive such
payment.

Section 11.10. Reliance on Judicial Order or Certificate of Liquidating Agent.

          Upon any payment or distribution of assets of a Guarantor referred to in
this Article 11, the Trustee and the Holders shall be entitled to rely upon any
order or decree entered by any court of competent jurisdiction in which such
insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution,
winding-up or similar case or proceeding is pending, or a certificate of the
trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee for
the benefit of creditors, agent or other Person making such payment or
distribution, delivered to the Trustee or to the Holders, for the purpose of

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ascertaining the Persons entitled to participate in such payment or
distribution, the holders of Guarantor Senior Indebtedness and other
Indebtedness of such Guarantor, the amount thereof or payable thereon, the
amount or amounts paid or distributed thereon and all other facts pertinent
thereto or to this Article 11.

Section 11.11. No Suspension of Remedies.

          Nothing contained in this Article 11 shall limit the right of the Trustee
or the Holders to take any action to accelerate the maturity of the obligations
under the Guarantees pursuant to Article 6 or to pursue any rights or remedies
hereunder or under applicable law, subject to the rights, if any, under this
Article 11 of the holders, from time to time, of Guarantor Senior Indebtedness.

ARTICLE 12

SUBORDINATION OF NOTES

Section 12.01. Notes Subordinate to Senior Indebtedness.

          The Company covenants and agrees, and the Trustee and each Holder by its
acceptance of Notes likewise covenants and agrees, that to the extent and in
the manner hereinafter set forth in this Article 12; the payment of all
obligations on the Notes by the Company are hereby expressly made subordinate
and subject in right of payment as provided in this Article 12 to the prior
indefeasible payment in full in cash of all Senior Indebtedness of the Company,
whether outstanding on the Issue Date or thereafter incurred.

          This Section 12.01 and the following Sections 12.02 through 12.11 shall
constitute a continuing offer to all Persons who, in reliance on such
provisions, become holders of or continue to hold Senior Indebtedness of the
Company; and such provisions are made for the benefit of all the holders of
Senior Indebtedness of the Company; and such holders are made obligees
hereunder and they or each of them may enforce such provisions.

Section 12.02. Payment Over of Proceeds upon Dissolution, etc.

          In the event of (a) any insolvency or bankruptcy case or proceeding, or
any receivership, liquidation, reorganization or other similar case or
proceeding in connection therewith, relative to the Company or to its
creditors, as such, or to its assets, whether voluntary or involuntary or (b)
any liquidation, dissolution or other winding-up of the Company, whether
voluntary or involuntary and whether or not involving insolvency or bankruptcy,
or (c) any general assignment for the benefit of creditors or any other
marshalling of assets or liabilities of the Company, then and in any such
event:

     (1) the holders of Senior Indebtedness of the Company shall be
entitled to receive indefeasible payment in full in cash of all amounts
due on or in respect of all Senior Indebtedness before the Holders are
entitled to receive any payment or distribution of any kind or character
(other than a payment or distribution in the form of Permitted Junior
Securities or from the trust described in Section 9.01 or Section 9.04)
on account of any obligations on the Notes;

     (2) any payment or distribution of assets of the Company of any kind
or character, whether in cash, Property or securities, by set-off or
otherwise, to which the Holders or the Trustee would be entitled but for
the provisions of this Article 12 (other than a payment or distribution
in the form of Permitted Junior Securities or from the trust described in
Section 9.01 or Section 9.04) shall be paid by the liquidating trustee or
agent or other Person making such payment

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or distribution, whether a trustee in bankruptcy, a receiver or
liquidating trustee or otherwise, directly to the holders of Senior
Indebtedness or their representative or representatives or to the trustee
or trustees under any indenture under which any instruments evidencing
any of such Senior Indebtedness may have been issued, ratably according
to the aggregate amounts remaining unpaid on account of the Senior
Indebtedness held or represented by each, to the extent necessary to make
payment in full in cash of all Senior Indebtedness remaining unpaid,
after giving effect to any concurrent payment or distribution to the
holders of such Senior Indebtedness; and

     (3) in the event that, notwithstanding the foregoing provisions of
this Section 12.02, the Trustee or any Holder shall have received any
payment or distribution of assets of the Company of any kind or
character, whether in cash, property or securities, including, without
limitation, by way of set-off or otherwise, in respect of the principal
of, premium, if any, and interest on the Notes before all Senior
Indebtedness is indefeasibly paid in full, then and in such event such
payment or distribution shall be paid over or delivered forthwith to the
trustee in bankruptcy, receiver, liquidating trustee, custodian,
assignee, agent or other Person making payment or distribution of assets
of the Company for application to the payment of all such Senior
Indebtedness remaining unpaid, to the extent necessary to pay all Senior
Indebtedness in full in cash or, as acceptable to the holders of such
Senior Indebtedness, any other manner, after giving effect to any
concurrent payment or distribution, to or for the holders of such Senior
Indebtedness.

          The consolidation of the Company with, or the merger of the Company with
or into, another Person or the liquidation or dissolution of the Company
following the conveyance, transfer or lease of its properties and assets
substantially as an entirety to another Person upon the terms and conditions
set forth in Article 5 shall not be deemed a dissolution, winding-up,
liquidation, reorganization, assignment for the benefit of creditors or
marshalling of assets and liabilities of the Company for the purposes of this
Article 12 if the Person formed by such consolidation or the surviving entity
of such merger or the Person which acquires by conveyance, transfer or lease
such properties and assets substantially as an entirety, as the case may be,
shall, as a part of such consolidation, merger, conveyance, transfer or lease,
comply with the conditions set forth in Article 5.

Section 12.03. Suspension of Payment When Senior Indebtedness in Default.

          (a) Unless Section 12.02 shall be applicable, upon the occurrence of a
Payment Default on Designated Senior Indebtedness of the Company, no payment or
distribution (other than a payment or distribution in the form of Permitted
Junior Securities or from the trust described in Section 9.01 or Section 9.04)
of any assets or securities of the Company of any kind or character (including,
without limitation, cash, Property and any payment or distribution which may be
payable or deliverable by reason of the payment of any other Indebtedness of
the Company being subordinated to the payment of the Notes by the Company)
shall be made by the Company or any Restricted Subsidiary of the Company,
including, without limitation, by way of set-off or otherwise, for or on
account of any obligations under the Notes or this Indenture, or for or on
account of the purchase, redemption or other acquisition of the Notes, and
neither the Trustee nor any Holder shall take or receive from the Company,
directly or indirectly in any manner, payment in respect of all or any portion
of Notes commencing on the date of receipt by the Trustee of written notice
from the representative of the holders of such Designated Senior Indebtedness
(the “Representative”) to the Trustee of written notice of the occurrence of a
Payment Default, and in any such event, such prohibition shall continue until
such Payment Default is cured, waived in writing or otherwise ceases to exist.
At such time as the prohibition set forth in the preceding sentence shall no
longer be in effect, subject to the provisions of the following paragraph (b),
the Company shall resume making any and all required payments in respect of the
Notes, including any missed payments.

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          (b) Unless Section 12.02 shall be applicable, upon the occurrence of a
Non-Payment Event of Default on Designated Senior Indebtedness of the Company,
no payment or distribution (other than a payment or distribution in the form of
Permitted Junior Securities or from the trust described in Section 9.01 or
Section 9.04) of any assets of the Company of any kind or character (including,
without limitation, cash, property and any payment or distribution which may be
payable or deliverable by reason of the payment of any other Indebtedness of
the Company being subordinated to the payment of the Notes by the Company)
shall be made by the Company or any Restricted Subsidiary of the Company,
including, without limitation, by way of set-off or otherwise, on account of
any obligations under the Notes or this Indenture or on account of the
purchase, redemption, defeasance or other acquisition of Notes and neither the
Trustee nor any Holder shall take or receive from the Company, directly or
indirectly in any manner, payment in respect of all or any portion of Notes for
a period (the “Payment Blockage Period”) commencing on the date of receipt by
the Trustee of written notice from the Representative of such Non-Payment Event
of Default unless and until (subject to any blockage of payments that may then
be in effect under the preceding paragraph (a)) the earliest to occur of the
following events: (w) more than 179 days shall have elapsed since the date of
receipt of such written notice by the Trustee, (x) such Non-Payment Event of
Default shall have been cured or waived in writing or shall have ceased to
exist, (y) such Designated Senior Indebtedness shall have been discharged or
indefeasibly paid in full in cash or (z) such Payment Blockage Period shall
have been terminated by written notice to the Company or the Trustee from the
Representative initiating such Payment Blockage Period, or the holders of at
least a majority in principal amount of such issue of Designated Senior
Indebtedness, after which, in the case of clause (w), (x), (y) or (z), the
Company shall resume making any and all required payments in respect of the
Notes, including any missed payments. Notwithstanding any other provisions of
this Indenture, no Non-Payment Event of Default with respect to Designated
Senior Indebtedness which existed or was continuing on the date of the
commencement of any Payment Blockage Period initiated by the Representative
shall be, or be made, the basis for the commencement of a second Payment
Blockage Period initiated by the Representative unless such event of default
shall have been waived for a period of not less than 90 consecutive days. In
no event shall a Payment Blockage Period extend beyond 179 days from the date
of the receipt by the Trustee of the notice referred to in this Section
12.03(b) or in the event of a Non-Payment Event of Default which formed the
basis of a Guarantee Payment Blockage Period under Section 11.03(b), 179 days
from the default the receipt by the Trustee of the notice referred to in
Section 11.03(b) (the “Initial Blockage Period”). Any number of additional
Payment Blockage Periods may be commenced during the Initial Blockage Period;
provided, however, that no such additional Payment Blockage Period shall extend
beyond the Initial Blockage Period. After the expiration of the Initial
Blockage Period, no Payment Blockage Period may be commenced under this clause
(b) and no Guarantee Payment Blockage Period may be commenced under Section
11.03(b) until at least 360 consecutive days have elapsed from the day of
commencement of the Initial Blockage Period.

          (c) In the event that, notwithstanding the foregoing, the Trustee or any
Holder shall have received any payment prohibited by the foregoing provisions
of this Section 12.03, then and in such event such payment shall be paid over
and delivered forthwith to the Representative initiating the Payment Blockage
Period, in trust for distribution to the holders of Senior Indebtedness or, if
no amounts are then due in respect of Senior Indebtedness, promptly returned to
the Company, or otherwise as a court of competent jurisdiction shall direct.

Section 12.04. Trustee’s Relation to Senior Indebtedness.

          The Trustee and any agent of the Company or the Trustee shall be entitled
to all the rights set forth in this Article 12 with respect to any Senior
Indebtedness which may at any time be held by it in its individual or any other
capacity to the same extent as any other holder of Senior Indebtedness and
nothing in this Indenture shall deprive the Trustee or any such agent of any of
its rights as such holder.

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          With respect to the holders of Senior Indebtedness, the Trustee undertakes
to perform or to observe only such of its covenants and obligations as are
specifically set forth in this Article 12, and no implied covenants or
obligations with respect to the holders of Senior Indebtedness shall be read
into this Indenture against the Trustee. The Trustee shall not be deemed to
owe any fiduciary duty to the holders of Senior Indebtedness and the Trustee
shall not be liable to any holder of Senior Indebtedness if it shall mistakenly
pay over or deliver to Holders, the Company or any other Person, moneys or
assets to which any holder of Senior Indebtedness shall be entitled by virtue
of this Article 12 or otherwise. Nothing in this Section 12.04 shall affect
the obligation of any other such Person receiving such payment or distribution
from the Trustee or any other Agent to hold such payment for the benefit of,
and to pay such payment over to, the holders of Senior Indebtedness.

Section 12.05. Subrogation.

          Upon the payment in full of all Senior Indebtedness, the Holders shall be
subrogated to the rights of the holders of such Senior Indebtedness to receive
payments and distributions of cash, property and securities applicable to the
Senior Indebtedness until the principal of, premium, if any and interest on the
Notes shall be paid in full. For purposes of such subrogation, no payments or
distributions to the holders of Senior Indebtedness of any cash, property or
securities to which the Holders or the Trustee would be entitled except for the
provisions of this Article 12, and no payments over pursuant to the provisions
of this Article 12 to the holders of Senior Indebtedness by Holders or the
Trustee, shall, as among the Company, its creditors other than holders of
Senior Indebtedness and the Holders, be deemed to be a payment or distribution
by the Company to or on account of the Senior Indebtedness.

          If any payment or distribution to which the Holders would otherwise have
been entitled but for the provisions of this Article 12 shall have been
applied, pursuant to the provisions of this Article 12, to the payment of all
amounts payable under the Senior Indebtedness of the Company, then and in such
case the Holders shall be entitled to receive from the holders of such Senior
Indebtedness at the time outstanding any payments or distributions received by
such holders of such Senior Indebtedness in excess of the amount sufficient to
pay all amounts payable under or in respect of such Senior Indebtedness in full
in cash.

Section 12.06. Provisions Solely to Define Relative Rights.

          The provisions of this Article 12 are and are intended solely for the
purpose of defining the relative rights of the Holders on the one hand and the
holders of Senior Indebtedness on the other hand. Nothing contained in this
Article 12 or elsewhere in this Indenture or in the Notes is intended to or
shall (a) impair, as among the Company, its creditors other than holders of
Senior Indebtedness and the Holders, the obligation of the Company, which is
absolute and unconditional, to pay to the Holders the principal of, premium, if
any, and interest on the Notes as and when the same shall become due and
payable in accordance with their terms; or (b) affect the relative rights
against the Company of the Holders and creditors of the Company other than the
holders of Senior Indebtedness; or (c) prevent the Trustee or any Holder from
exercising all remedies otherwise permitted by applicable law upon a Default or
an Event of Default under this Indenture, subject to the rights, if any, under
this Article 12 of the holders of Senior Indebtedness (1) in any case,
proceeding, dissolution, liquidation or other winding-up, assignment for the
benefit of creditors or other marshalling of assets and liabilities of the
Company referred to in Section 12.02, to receive, pursuant to and in accordance
with such Section, cash, property and securities otherwise payable or
deliverable to the Trustee or such Holder, or (2) under the conditions
specified in Section 12.03, to prevent any payment prohibited by such Section
or enforce their rights pursuant to Section 12.03(c).

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          The failure to make a payment on account of principal of, premium, if any,
or interest on the Notes by reason of any provision of this Article 12 shall
not be construed as preventing the occurrence of a Default or an Event of
Default hereunder.

Section 12.07. Trustee to Effectuate Subordination.

          Each Holder by his acceptance thereof authorizes and directs the Trustee
on his behalf to take such action as may be necessary or appropriate to
effectuate the subordination provided in this Article 12 and appoints the
Trustee his attorney-in-fact for any and all such purposes, including, in the
event of any dissolution, winding-up, liquidation or reorganization of the
Company whether in bankruptcy, insolvency, receivership proceedings, or
otherwise, the timely filing of a claim for the unpaid balance of the
indebtedness of the Company owing to such Holder in the form required in such
proceedings.

Section 12.08. No Waiver of Subordination Provisions.

          (a) No right of any present or future holder of any Senior Indebtedness to
enforce subordination as herein provided shall at any time in any way be
prejudiced or impaired by any act or failure to act on the part of the Company
or by any act or failure to act, in good faith, by any such holder, or by any
non-compliance by the Company with the terms, provisions and covenants of this
Indenture, regardless of any knowledge thereof any such holder may have or be
otherwise charged with.

          (b) Without limiting the generality of paragraph (a) of this Section
12.08, the holders of Senior Indebtedness may, at any time and from time to
time, without the consent of or notice to the Trustee or the Holders, without
incurring responsibility to the Holders and without impairing or releasing the
subordination provided in this Article 12 or the obligations hereunder of the
Holders to the holders of Senior Indebtedness, do any one or more of the
following: (1) change the manner, place or terms of payment or extend the time
of payment of, or renew or alter, Senior Indebtedness or any instrument
evidencing the same or any agreement under which Senior Indebtedness is
outstanding; (2) sell, exchange, release or otherwise deal with any property
pledged, mortgaged or otherwise securing Senior Indebtedness; (3) release any
Person liable in any manner for the collection or payment of Senior
Indebtedness; and (4) exercise or refrain from exercising any rights against
the Company and any other Person; provided, however, that in no event shall any
such actions limit the right of the Holders to take any action to accelerate
the maturity of the Notes pursuant to Article 6 hereof or to pursue any rights
or remedies hereunder or under applicable laws if the taking of such action
does not otherwise violate the terms of this Indenture.

Section 12.09. Notice to Trustee.

          (a) The Company shall give prompt written notice to the Trustee of any
fact known to the Company which would prohibit the making of any payment to or
by the Trustee at its Corporate Trust Office in respect of the Notes.
Notwithstanding the provisions of this Article 12 or any other provision of
this Indenture, the Trustee shall not be charged with knowledge of the
existence of any facts which would prohibit the making of any payment to or by
the Trustee in respect of the Notes, unless and until the Trustee shall have
received written notice thereof from the Company or a holder of Senior
Indebtedness or from any trustee, fiduciary or agent therefor; and, prior to
the receipt of any such written notice, the Trustee, subject to the provisions
of this Section 12.09, shall be entitled in all respects to assume that no such
facts exist; provided, however, that if the Trustee shall not have received the
notice provided for in this Section 12.09 at least two Business Days prior to
the date upon which by the terms hereof any money may become payable for any
purpose under this Indenture (including, without limitation, the payment of the
principal of, premium, if any, or interest on any Note), then, anything herein
contained to the contrary notwithstanding but without limiting the rights and
remedies of the holders of Senior

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Indebtedness or any trustee, fiduciary or agent therefor, the Trustee
shall have full power and authority to receive such money and to apply the same
to the purpose for which such money was received and shall not be affected by
any notice to the contrary which may be received by it within two Business
Days prior to such date; nor shall the Trustee be charged with knowledge of the
curing of any such default or the elimination of the act or condition
preventing any such payment unless and until the Trustee shall have received an
Officers’ Certificate to such effect.

          (b) In the event that the Trustee determines in good faith that further
evidence is required with respect to the right of any Person as a holder of
Senior Indebtedness to participate in any payment or distribution pursuant to
this Article 12, the Trustee may request such Person to furnish evidence to the
reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness
held by such Person, the extent to which such Person is entitled to participate
in such payment or distribution and any other facts pertinent to the rights of
such Person under this Article 12, and if such evidence is not furnished, the
Trustee may defer any payment to such Person pending judicial determination as
to the right of such Person to receive such payment.

Section 12.10. Reliance on Judicial Order or Certificate of Liquidating Agent.

          Upon any payment or distribution of assets of the Company referred to in
this Article 12, the Trustee and the Holders shall be entitled to rely upon any
order or decree entered by any court of competent jurisdiction in which such
insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution,
winding-up or similar case or proceeding is pending, or a certificate of the
trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee for
the benefit of creditors, agent or other Person making such payment or
distribution, delivered to the Trustee or to the Holders, for the purpose of
ascertaining the Persons entitled to participate in such payment or
distribution, the holders of Senior Indebtedness and other Indebtedness of the
Company, the amount thereof or payable thereon, the amount or amounts paid or
distributed thereon and all other facts pertinent thereto or to this Article
12.

Section 12.11. No Suspension of Remedies.

          Nothing contained in this Article 12 shall limit the right of the Trustee
or the Holders to take any action to accelerate the maturity of the Notes
pursuant to Article 6 or to pursue any rights or remedies hereunder or under
applicable law, subject to the rights, if any, under this Article 12 of the
holders, from time to time, of Senior Indebtedness.

ARTICLE 13

MISCELLANEOUS

Section 13.01. TIA Controls.

          If any provision of this Indenture limits, qualifies or conflicts with
another provision which is required to be included in this Indenture by the
TIA, the required provision shall control.

Section 13.02. Notices.

          Any notices or other communications required or permitted hereunder shall
be in writing, and shall be sufficiently given if made by hand delivery, by
telex, by telecopier or registered or certified mail, postage prepaid, return
receipt requested, addressed as follows:

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          (a) If to the Company or any Guarantor:

Transportation Technologies Industries, Inc.

980 North Michigan Ave., Suite 1000

Chicago, IL 60611

Attention: General Counsel

Tel: (312) 280-8844

Fax: (312) 280-4820

          Copy to:

Cahill Gordon
& Reindel LLP

80 Pine Street

New York, NY 10005

Attention: Roger Meltzer

Tel: (212) 701-3851

Fax: (212) 269-5420

          If to the Trustee:

U.S. Bank National Association

60 Livingston Avenue

St. Paul, MN 55107

Attention: Frank Leslie

Tel: (651) 495-3913

Fax: (651) 495-8097

          The Company, any Guarantor or the Trustee by written notice to the others
may designate additional or different addresses for subsequent notices or
communications. Any notice or communication to the Company, any Guarantors or
the Trustee, shall be deemed to have been given or made as of the date so
delivered if personally delivered; when answered back, if telexed; when receipt
is acknowledged, if telecopied; and five (5) calendar days after mailing if
sent by registered or certified mail, postage prepaid (except that a notice of
change of address shall not be deemed to have been given until actually
received by the addressee).

          Any notice or communication mailed to a Holder shall be mailed to him by
first-class mail, postage prepaid, at his address shown on the register kept by
the Registrar.

          Failure to mail a notice or communication to a Holder or any defect in it
shall not affect its sufficiency with respect to other Holders. If a notice or
communication to a Holder is mailed in the manner provided above, it shall be
deemed duly given, whether or not the addressee receives it.

          In case by reason of the suspension of regular mail service, or by reason
of any other cause, it shall be impossible to mail any notice as required by
this Indenture, then such method of notification as shall be made with the
approval of the Trustee shall constitute a sufficient mailing of such notice.

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Section 13.03. Communications by Holders with Other Holders.

          Holders may communicate pursuant to TIA Section 312(b) with other Holders
with respect to their rights under this Indenture or the Notes. The Company,
the Guarantors, the Trustee, the Registrar and anyone else shall have the
protection of TIA Section 312(c).

Section 13.04. Certificate and Opinion as to Conditions Precedent.

          Upon any request or application by the Company or any Guarantor to the
Trustee to take any action under this Indenture, the Company or such Guarantor,
as the case may be, shall furnish to the Trustee:

          (a) an Officers’ Certificate (which shall include the statements set forth
in Section 13.05 below) stating that, in the opinion of the signers, all
conditions precedent, if any, provided for in this Indenture relating to the
proposed action have been complied with; and

          (b) an Opinion of Counsel (which shall include the statements set forth in
Section 13.05 below) stating that, in the opinion of such counsel, all such
conditions precedent, if any, provided for in this Indenture relating to the
proposed action have been complied with.

Section 13.05. Statements Required in Certificate and Opinion.

          Each certificate and opinion with respect to compliance with a condition
or covenant provided for in this Indenture shall include:

     (1) a statement that the person making such certificate or opinion
has read such covenant or condition and the definitions relating thereto;

     (2) a brief statement as to the nature and scope of the examination
or investigation upon which the statements or opinions contained in such
certificate or opinion are based;

     (3) a statement that, in the opinion of such person, it or he has
made such examination or investigation as is necessary to enable such
person to express an informed opinion as to whether or not such covenant
or condition has been complied with; and

     (4) a statement as to whether or not, in the opinion of such person,
such covenant or condition has been complied with.

Section 13.06. Rules by Trustee and Agents.

          The Trustee may make reasonable rules for action by or at meetings of
Holders. The Registrar and Paying Agent may make reasonable rules for their
functions.

Section 13.07. Business Days; Legal Holidays.

          A “Business Day” is a day that is not a Legal Holiday. A “Legal Holiday”
is a Saturday, a Sunday, a federally recognized holiday or a day on which
banking institutions are not required to be open in the State of New York. If
a payment date is a Legal Holiday at a place of payment, payment may be made at
that place on the next succeeding day that is not a Legal Holiday, and no
interest shall accrue for the intervening period.

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Section 13.08. Governing Law.

          THIS INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE
AND PERFORMED WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF
CONFLICTS OF LAW. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE
JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE NOTES.

Section 13.09. No Adverse Interpretation of Other Agreements.

          This Indenture may not be used to interpret another indenture, loan,
security or debt agreement of the Company or any Subsidiary thereof. No such
indenture, loan, security or debt agreement may be used to interpret this
Indenture.

Section 13.10. No Recourse Against Others.

          A director, officer, employee, stockholder or incorporator, as such, of
the Company or any Guarantor shall not have any liability for any obligations
of the Company or any Guarantor under the Notes, the Guarantees or this
Indenture or for any claim based on, in respect of or by reason of such
obligations or their creations. Each Holder by accepting a Note waives and
releases all such liability. Such waiver and release are part of the
consideration for the issuance of the Notes.

Section 13.11. Successors.

          All agreements of each of the Company and each Guarantor in this Indenture
and the Notes shall bind their respective successors. All agreements of the
Trustee, any additional trustee and any Paying Agents in this Indenture shall
bind its successor.

Section 13.12. Multiple Counterparts.

          The parties may sign multiple counterparts of this Indenture. Each signed
counterpart shall be deemed an original, but all of them together represent one
and the same agreement.

Section 13.13. Table of Contents, Headings, etc.

          The table of contents, cross-reference sheet and headings of the Articles
and Sections of this Indenture have been inserted for convenience of reference
only, are not to be considered a part hereof, and shall in no way modify or
restrict any of the terms or provisions hereof.

Section 13.14. Separability.

          Each provision of this Indenture shall be considered separable and if for
any reason any provision which is not essential to the effectuation of the
basic purpose of this Indenture or the Notes shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.

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          IN WITNESS WHEREOF, the parties have caused this Indenture to be duly
executed all as of the date and year first written above.

	 	 	 	 	 
	 	TRANSPORTATION TECHNOLOGIES

INDUSTRIES, INC.

 	 
	 	By:  	/s/ Donald C. Mueller	 
	 	 	Name:  	Donald C. Mueller	 
	 	 	Title:  	Chief Financial Officer, Treasurer and Vice President	 

S-1

 

	 	 	 	 	 

	 	 	 	 	 
	 	Guarantors:

TRUCK COMPONENTS, INC.

 	 
	 	By:  	/s/ Kenneth M. Tallering	 
	 	 	Name:  	Kenneth M. Tallering	 
	 	 	Title:  	Secretary	 
	 

	 	 	 	 	 
	 	GUNITE CORPORATION

 	 
	 	By:  	/s/ Kenneth M. Tallering	 
	 	 	Name:  	Kenneth M. Tallering	 
	 	 	Title:  	Secretary	 
	 

	 	 	 	 	 
	 	GUNITE EMI CORPORATION

 	 
	 	By:  	/s/ Kenneth M. Tallering	 
	 	 	Name:  	Kenneth M. Tallering	 
	 	 	Title:  	Secretary	 
	 

	 	 	 	 	 
	 	BRILLION IRON WORKS, INC.

 	 
	 	By:  	/s/ Kenneth M. Tallering	 
	 	 	Name:  	Kenneth M. Tallering	 
	 	 	Title:  	Secretary	 
	 

	 	 	 	 	 
	 	FABCO AUTOMOTIVE CORPORATION

 	 
	 	By:  	/s/ Kenneth M. Tallering	 
	 	 	Name:  	Kenneth M. Tallering	 
	 	 	Title:  	Secretary	 

S-2

 

	 	 	 	 	 

	 	 	 	 	 
	 	BOSTROM HOLDINGS, INC.

 	 
	 	By:  	/s/ Kenneth M. Tallering	 
	 	 	Name:  	Kenneth M. Tallering	 
	 	 	Title:  	Secretary	 
	 

	 	 	 	 	 
	 	BOSTROM SEATING, INC.

 	 
	 	By:  	/s/ Kenneth M. Tallering	 
	 	 	Name:  	Kenneth M. Tallering	 
	 	 	Title:  	Secretary	 
	 

	 	 	 	 	 
	 	BOSTROM SPECIALTY SEATING, INC.

 	 
	 	By:  	/s/ Kenneth M. Tallering	 
	 	 	Name:  	Kenneth M. Tallering	 
	 	 	Title:  	Secretary	 
	 

	 	 	 	 	 
	 	IMPERIAL GROUP HOLDING CORP. — 1

 	 
	 	By:  	/s/ Kenneth M. Tallering	 
	 	 	Name:  	Kenneth M. Tallering	 
	 	 	Title:  	Secretary	 
	 

	 	 	 	 	 
	 	IMPERIAL GROUP HOLDING CORP. — 2

 	 
	 	By:  	/s/ Kenneth M. Tallering	 
	 	 	Name:  	Kenneth M. Tallering	 
	 	 	Title:  	Secretary	 

S-3

 

	 	 	 	 	 

	 	 	 	 	 
	 	IMPERIAL GROUP, L.P.

 	 
	 	By: Imperial Group Holding Corp.-1, its 	 
	 	General Partner 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Kenneth M. Tallering	 
	 	 	Name:  	Kenneth M. Tallering	 
	 	 	Title:  	Secretary	 
	 

	 	 	 	 	 
	 	JAII MANAGAMENT COMPANY

 	 
	 	By:  	/s/ Kenneth M. Tallering	 
	 	 	Name:  	Kenneth M. Tallering	 
	 	 	Title:  	Secretary	 

S-4

 

	 	 	 	 	 

	 	 	 	 	 
	 	U.S. Bank National Association

as Trustee

 	 
	 	By:  	/s/
Frank P. Leslie III	 
	 	 	Name:  	Frank P. Leslie III	 
	 	 	 	 	 

S-5

 

	 	 	 	 	 

EXHIBIT A

	 	 	 
	

	 	CUSIP No.:

TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC.

12.5% SENIOR SUBORDINATED NOTE DUE 2010, SERIES A

	 	 	 	 	 
	No.

	 	 	$	 

          Transportation Technologies Industries, Inc., a Delaware corporation (the
“Company,” which term includes any successor entity), for value received
promises to pay to                  or registered assigns, the principal
sum of $              on March 31, 2010.

          Interest Payment Dates: March 31 and September 30, commencing September
30, 2004. .

          Record Dates: March 15 and September 15.

          Reference is made to the further provisions of this Note contained herein
and the Indenture (as defined), which will for all purposes have the same
effect as if set forth at this place.

          IN WITNESS WHEREOF, the Company has caused this Note to be signed manually
or by facsimile by its duly authorized officers and a facsimile of its
corporate seal to be affixed hereto or imprinted hereon.

	 	 	 	 	 
	 	TRANSPORTATION TECHNOLOGIES INDUSTRIES,

INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

A-1

 

	 	 	 	 	 

Certificate of Authentication

          This is one of the 12.5% Senior Subordinated Notes due 2010 referred to in
the within-mentioned Indenture.

	 	 	 	 	 
	 	U.S. Bank National Association,

as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 

A-2

 

	 	 	 	 	 

(REVERSE OF SECURITY)

12.5% SENIOR SUBORDINATED NOTE DUE 2010, SERIES A

          1. Interest. Transportation Technologies Industries, Inc., a Delaware
corporation (the “Company”), promises to pay interest on the principal amount
of this Note at the rate per annum shown above. Interest on the Notes will
accrue from the most recent date on which interest has been paid or, if no
interest has been paid, from the date of the original issuance of the Notes.
The Company will pay interest semi-annually in arrears on each Interest Payment
Date, commencing September 30, 2004. Interest will be computed on the basis of
a 360-day year of twelve 30-day months.

          The Company shall pay interest on overdue principal and on overdue
installments of interest (without regard to any applicable grace periods) to
the extent lawful from time to time on demand at the rate borne by the Notes.

          2. Method of Payment. The Company shall pay interest on the Notes (except
defaulted interest) to the Persons who are the registered Holders at the close
of business on March 15 or September 15 immediately preceding the Interest
Payment Date (whether or not such day is a Business Day) even if the Notes are
cancelled on registration of transfer or registration of exchange after such
Record Date. Holders must surrender Notes to a Paying Agent to collect
principal payments. Payments of principal and premium, if any, will be made
(on presentation of such Notes if in certificated form) in money of the United
States that at the time of payment is legal tender for payment of public and
private debts; provided, however, that the Company may pay principal, premium,
if any, and interest by check payable in such money; provided, further, that
the Company may elect at its option to pay up to one-half (1/2) of the interest
payment due on the September 30, 2004 Interest Payment Date through the
issuance of additional Notes in a principal amount equal to the amount of such
interest (“Subsequent Notes”) and, if the Company so elects, the Company shall
give notice to Holders on or prior to (but no earlier than 20 days before) the
Interest Payment Date stating such election and the amount of the interest
payment to be satisfied through the issuance of Subsequent Notes. The Company
may deliver any interest payment to the Paying Agent or to a Holder at the
Holder’s registered address.

          3. Paying Agent and Registrar. Initially, U.S. Bank National Association,
a national banking association (the “Trustee”), will act as Paying Agent and
Registrar. The Company may change any Paying Agent, Registrar or co-Registrar
without notice to the Holders. Neither the Company nor any of its Subsidiaries
or Affiliates may act as Paying Agent but may act as Registrar or co-Registrar.

          4. Indenture. The Company issued this Note under an Indenture, dated as
of May 21, 2004 (the “Indenture”), by and among the Company, the Guarantors and
the Trustee. This Note is one of a duly authorized issue of Initial Notes of
the Company designated as its 12.5% Senior Subordinated Notes due 2010 (the
“Notes”). The Notes are limited in aggregate principal amount to the principal
amount of the Existing Notes (plus accrued interest and any fees owing in
respect thereof) exchanged into Initial Notes under the Indenture plus the
amount of Subsequent Notes issued under the Indenture. The Notes include the
Initial Notes, the Subsequent Notes and the Exchange

A-3

 

Notes (as defined below) issued in exchange for the Initial Notes and any
Subsequent Notes pursuant to the Indenture. The Initial Notes, the Subsequent
Notes and the Exchange Notes are treated as a single class of securities under
the Indenture. Capitalized terms herein are used as defined in the Indenture
unless otherwise defined herein. The terms of the Notes include those stated
in the Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939 (15 U.S. Code Sections 77aaa-77bbbb) (the
“TIA”), as in
effect on the date of the Indenture. Notwithstanding anything to the contrary
herein, the Notes include all such terms, and Holders are referred to the
Indenture and the TIA for a statement of them. The Notes are general unsecured
obligations of the Company.

          5. Subordination. The Notes are unsecured obligations of the Company and
subordinated in right of payment, in the manner and to the extent set forth in
the Indenture, to the prior payment in full in cash of all Senior Indebtedness
of the Company, whether outstanding on the date of the Indenture or thereafter
created, incurred, assumed or guaranteed. Each Holder by his acceptance hereof
agrees to be bound by such provisions and authorizes and expressly directs the
Trustee, on his behalf, to take such action as may be necessary or appropriate
to effectuate the subordination provided for in the Indenture and appoints the
Trustee his attorney-in-fact for such purposes.

          6. Guarantee. The obligations of the Company hereunder are guaranteed on
a senior subordinated basis by the Guarantors. Each Guarantee by a Guarantor
is subordinated in right of payment to all Guarantor Senior Indebtedness of
such Guarantor to the same extent that the Notes are subordinated to Senior
Indebtedness of the Company.

          7. Optional Redemption.

          On or after the Issue Date, the Company may redeem the Notes, at its
option, in whole at any time or in part from time to time, at the following
Redemption Prices (expressed as percentages of the principal amount thereof) if
redeemed during the twelve-month period commencing on March 31 of each year set
forth below plus, in each case, accrued and unpaid interest thereon, if any, to
the date of redemption:

	 	 	 	 	 
	Year
	 	Percentage

	2004
	 	 	103.000	%
	2005
	 	 	103.000	%
	2006
	 	 	102.000	%
	2007
	 	 	101.000	%
	2008 and thereafter
	 	 	100.000	%

          8. Notice of Redemption. Notice of redemption under paragraph 7 of this
Note will be mailed at least 30 days but not more than 60 days before the
Redemption Date to each Holder to be redeemed at such Holder’s registered
address.

     Except as set forth in the Indenture, if monies for the redemption of the
Notes called for redemption shall have been deposited with the Paying Agent for
redemption on such Redemption Date, then, unless the Company defaults in the
payment of such Redemption Price plus accrued interest, if any, the Notes
called for redemption will cease to bear interest from and after such
Redemption

A-4

 

Date and the only right of the Holders of such Notes will be to receive
payment of the Redemption Price plus accrued interest, if any.

          9. Offers to Purchase. The Indenture provides that, after certain Asset
Sales (as defined in the Indenture) and upon the occurrence of a Change of
Control (as defined in the Indenture), and subject to further limitations
contained therein, the Company will make an offer to purchase certain amounts
of the Notes in accordance with the procedures set forth in the Indenture.

          10. Registration Rights. Pursuant to the Registration Rights Agreement by
and among the Company, the Guarantors and the Holders of Initial Notes named
therein, the Company will be obligated to consummate an exchange offer pursuant
to which the Holder of this Note shall have the right to exchange this Note for
the Company’s Series B 12.5% Senior Subordinated Notes due 2010 (the “Exchange
Notes”), which have been registered under the Securities Act, in like principal
amount and having terms identical in all material respects to the Initial
Notes. The Holders of the Initial Notes shall be entitled to receive certain
Additional Interest payments in the event such exchange offer is not
consummated and upon certain other conditions, all pursuant to and in
accordance with the terms of the Registration Rights Agreement.

          11. Denominations; Transfer; Exchange. The Notes are in registered form,
without coupons, in denominations of $1.00 and integral multiples thereof. A
Holder shall register the transfer or exchange of Notes in accordance with the
Indenture. The Registrar may require a Holder, among other things, to furnish
appropriate endorsements and transfer documents and to pay certain transfer
taxes or similar governmental charges payable in connection therewith as
permitted by the Indenture. The Registrar need not register the transfer of or
exchange of any Notes or portions thereof selected for redemption.

          12. Persons Deemed Owners. The registered holder of a Note shall be
treated as the owner of it for all purposes.

          13. Unclaimed Money. If money for the payment of principal or interest
remains unclaimed for two years, the Trustee and the Paying Agent will pay the
money back to the Company. After that, Holders entitled to money must look to
the Company for payment as general creditors unless an “abandoned property” law
designates another person.

          14. Legal Defeasance and Covenant Defeasance. If the Company at any time
deposits with the Trustee U.S. legal tender or U.S. Government Obligations
sufficient to pay the principal of and interest on the Notes to redemption or
maturity and complies with the other provisions of the Indenture relating to
defeasance, the Company will be discharged from certain provisions of the
Indenture and the Notes (including certain covenants, but excluding its
obligation to pay the principal of and interest on the Notes).

          15. Amendments, Supplements, and Waivers. Subject to certain exceptions,
the Indenture or the Notes may be amended or supplemented with the written
consent of the Holders of at least a majority in aggregate principal amount of
the Notes then outstanding, and any existing Default or Event of Default or
noncompliance with any provision may be waived with the written consent of the
Holders of a majority in aggregate principal amount of the Notes then
outstanding. Without notice to or consent of any Holder, the parties thereto
may amend or supplement the Indenture or the Notes to, among other things, cure
any ambiguity, defect or inconsistency, provide for uncertificated Notes

A-5

 

in addition to or in place of certificated Notes or make any other change
that does not adversely affect in any material respect the rights of any
Holder.

          16. Restrictive Covenants. The Indenture imposes certain limitations on
the ability of the Company and its Subsidiaries to, among other things, incur
additional Indebtedness, make payments in respect of its Capital Stock, enter
into transactions with Affiliates, create dividend or other payment
restrictions affecting Restricted Subsidiaries, sell assets, create liens,
issue capital stock, enter into sale and lease-back transactions, make certain
Investments, merge or consolidate with any other Person, or sell, assign,
transfer, lease, convey or otherwise dispose of all or substantially all of its
assets. Such limitations are subject to a number of important qualifications
and exceptions. The Company must quarterly report to the Trustee on compliance
with such limitations.

          17. Successor Entity. When a successor entity assumes, in accordance with
the Indenture, all the obligations of its predecessor under the Notes and the
Indenture, and immediately before and thereafter no Default or Event of Default
exists and certain other conditions are satisfied, the predecessor entity will
be released from those obligations.

          18. Defaults and Remedies. Events of Default are set forth in the
Indenture. If an Event of Default (other than an Event of Default pursuant to
Section 6.01(h) or (i) of the Indenture) shall have occurred and be continuing,
then the Trustee or the Holders of not less than 25% in aggregate principal
amount of the Notes then outstanding, may declare to be immediately due and
payable the entire principal amount of all the Notes then outstanding plus
accrued interest to the date of acceleration; provided, however, that after
such acceleration but before a judgment or decree based on such acceleration is
obtained by the Trustee, the Holders of a majority in aggregate principal
amount of the outstanding Notes may rescind and annul such acceleration and its
consequences if all existing Events of Default, other than the nonpayment of
principal, premium, if any, or interest that has become due solely because of
the acceleration, have been cured or waived. No such rescission shall affect
any subsequent Default or impair any right consequent thereto. In case an
Event of Default specified in Section 6.01(h) or (i) of the Indenture occurs,
such principal amount, together with premium, if any, and interest with respect
to all of the Notes, shall be due and payable immediately without any
declaration or other act on the part of the Trustee or the Holders.

          19. Trustee Dealings with Company. The Trustee under the Indenture, in
its individual or any other capacity, may make loans to, accept deposits from,
and perform services for the Company, and may otherwise deal with the Company,
its Subsidiaries or their respective Affiliates as if it were not the Trustee.

          20. No Recourse Against Others. As more fully described in the Indenture,
no director, officer, employee, stockholder or incorporator, as such, of the
Company shall have any liability for any obligation of the Company under the
Notes or the Indenture or for any claim based on, in respect of or by reason of
such obligations or their creation. Each Holder by accepting a Note waives and
releases all such liability. Such waiver and release are part of the
consideration for the issuance of the Notes.

          21. Authentication. This Note shall not be valid until the Trustee or
Authenticating Agent manually signs the certificate of authentication on this
Note.

A-6

 

          22. Governing Law. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE
AND PERFORMED WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF
CONFLICTS OF LAW. EACH OF THE PARTIES TO THE INDENTURE HAS AGREED TO SUBMIT TO
THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS NOTE.

          23. Abbreviations and Defined Terms. Customary abbreviations may be used
in the name of a Holder or an assignee, such as: TEN COM (= tenants in
common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with
right of survivorship and not as tenants in common), CUST (= Custodian), and
U/G/M/A (= Uniform Gifts to Minors Act).

          24. CUSIP Numbers. Pursuant to a recommendation promulgated by the
Committee on Uniform Security Identification Procedures, the Company has caused
CUSIP numbers to be printed on the Notes as a convenience to the Holders. No
representation is made as to the accuracy of such numbers as printed on the
Notes and reliance may be placed only on the other identification numbers
printed hereon.

          25. Indenture. Each Holder, by accepting a Note, agrees to be bound by
all of the terms and provisions of the Indenture, as the same may be amended
from time to time.

          The Company will furnish to any Holder upon written request and without
charge a copy of the Indenture, which has the text of this Note in larger type.
Requests may be made to: Transportation Technologies Industries, Inc., 980 N.
Michigan Ave., Suite 1000, Chicago, IL 60611, Attention: General Counsel.

A-7

 

FORM OF GUARANTEE

     Each Guarantor (capitalized terms used herein have the meanings given such
terms in the Indenture referred to in the Note upon which this notation is
endorsed) hereby unconditionally guarantees on a senior subordinated basis
(such guarantee being referred to herein as the “Guarantee”) the due and
punctual payment of the principal of, premium, if any, and interest on the
Notes, whether at maturity, by acceleration or otherwise, the due and punctual
payment of interest on the overdue principal, premium and interest on the
Notes, and the due and punctual performance of all other obligations of the
Company to the Holders or the Trustee, all in accordance with the terms set
forth in Article 10 of the Indenture.

     The obligations of each Guarantor to the Holders and to the Trustee
pursuant to the Guarantee and the Indenture are expressly set forth, and are
expressly subordinated and subject in right of payment to the prior payment in
full of all Guarantor Senior Indebtedness of each Guarantor, to the extent and
in the manner provided in Article 11 of the Indenture.

     This Guarantee shall not be valid or obligatory for any purpose until the
certificate of authentication on the Notes upon which this Guarantee is noted
shall have been executed by the Trustee under the Indenture by the manual
signature of one of its authorized officers.

     This Guarantee shall be governed by and construed in accordance with the
laws of the State of New York without regard to principles of conflicts of law.

     This Guarantee is subject to release upon the terms set forth in the
Indenture.

	 	 	 	 	 
	 	TRUCK COMPONENTS, INC.

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	GUNITE CORPORATION

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

A-8

 

	 	 	 	 	 

	 	 	 	 	 
	 	GUNITE EMI CORPORATION

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	BRILLION IRON WORKS, INC.

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	FABCO AUTOMOTIVE CORPORATION

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	BOSTROM HOLDINGS, INC.

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	BOSTROM SEATING, INC.

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	BOSTROM SPECIALTY SEATING, INC.

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

A-9

 

	 	 	 	 	 

	 	 	 	 	 
	 	IMPERIAL GROUP HOLDING CORP. - 1

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	IMPERIAL GROUP HOLDING CORP. - 2

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 
	

	 	IMPERIAL GROUP, L.P.
	 
	 	 
	

	 	By: Imperial Group Holding Corp.-1, its
General Partner

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	JAII MANAGEMENT COMPANY

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

A-10

 

	 	 	 	 	 

ASSIGNMENT FORM

     If you the Holder want to assign this Note, fill in the form below and
have your signature guaranteed:

I or we assign and transfer this Note to:
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

(Print or type name, address and zip code and

social security or tax ID number of assignee)

and irrevocably appoint                                                                                                                                      ,

agent to transfer this Note on the books of the Company. The agent may
substitute another to act for him.

	 	 	 
	Date:                                                         

	 	Signed:                                                          
	

	 	        (Sign
exactly as your name appears on
        the
other side of this Note)

Medallion Guarantee:

A-11

 

[OPTION OF HOLDER TO ELECT PURCHASE]

     If you want to elect to have this Note purchased by the Company pursuant
to Section 4.13 or Section 4.16 of the Indenture, check the appropriate box:

Section 4.13 o

Section 4.16 o

     If you want to elect to have only part of this Note purchased by the
Company pursuant to Section 4.13 or Section 4.16 of the Indenture, state the
amount you elect to have purchased:

	 	 	 	 	 
	$
	 	 	 	 
	

	 	

	 	 

	 	 	 	 	 	 	 
	Date:
	 	 	 	 	 	 
	

	 	

	 	 	 	

NOTICE: The signature on this assignment
must correspond with the name as it
appears upon the face of the within Note
in every particular without alteration or
enlargement or any change whatsoever and
be guaranteed by the endorser’s bank or
broker.

	 	 	 	 	 
	Medallion Guarantee:
	 	 	 	 
	

	 	

	 	 

A-12

 

EXHIBIT B

CUSIP No.:

TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC.

12.5% SENIOR SUBORDINATED NOTE DUE 2010, SERIES B

	 	 	 	 	 	 	 
	No.

	 	 	 	 	$	 

     Transportation Technologies Industries, Inc., a Delaware corporation (the
“Company,” which term includes any successor entity), for value received
promises to pay to   or registered assigns, the principal sum of
$   on March 31, 2010.

     Interest Payment Dates: March 31 and September 30, commencing September
30, 2004.

     Record Dates: March 15 and September 15.

     Reference is made to the further provisions of this Note contained herein
and the Indenture (as defined), which will for all purposes have the same
effect as if set forth at this place.

     IN WITNESS WHEREOF, the Company has caused this Note to be signed manually
or by facsimile by its duly authorized officers and a facsimile of its
corporate seal to be affixed hereto or imprinted hereon.

	 	 	 	 	 
	 	TRANSPORTATION TECHNOLOGIES 

INDUSTRIES,INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

B-1

 

	 	 	 	 	 

Certificate of Authentication

     This is one of the Series B 12.5% Senior Subordinated Notes due 2010
referred to in the within-mentioned Indenture.

	 	 	 	 	 
	 	U.S. Bank National Association,

as Trustee

 

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 

B-2

 

	 	 	 	 	 

(REVERSE OF SECURITY)

12.5% SENIOR SUBORDINATED NOTE DUE 2010, SERIES B

     1. Interest. Transportation Technologies Industries, Inc., a Delaware
corporation (the “Company”), promises to pay interest on the principal amount
of this Note at the rate per annum shown above. Interest on the Notes will
accrue from the most recent date on which interest has been paid or, if no
interest has been paid, from the date of the original issuance of the Notes.
The Company will pay interest semi-annually in arrears on each Interest Payment
Date, commencing September 30, 2004. Interest will be computed on the basis of
a 360-day year of twelve 30-day months.

     The Company shall pay interest on overdue principal and on overdue
installments of interest (without regard to any applicable grace periods) to
the extent lawful from time to time on demand at the rate borne by the Notes.

     2. Method of Payment. The Company shall pay interest on the Notes (except
defaulted interest) to the Persons who are the registered Holders at the close
of business on March 15 or September 15 immediately preceding the Interest
Payment Date (whether or not such day is a Business Day) even if the Notes are
cancelled on registration of transfer or registration of exchange after such
Record Date. Holders must surrender Notes to a Paying Agent to collect
principal payments. Payments of principal and premium, if any, will be made
(on presentation of such Notes if in certificated form) in money of the United
States that at the time of payment is legal tender for payment of public and
private debts; provided, however, that the Company may pay principal, premium,
if any, and interest by check payable in such money; provided, further, that
the Company may elect at its option to pay up to one-half (1/2) of the interest
payment due on the September 30, 2004 Interest Payment Date through the
issuance of additional Notes in a principal amount equal to the amount of such
interest (“Subsequent Notes”) and, if the Company so elects, the Company shall
give notice to Holders on or prior to (but no earlier than 20 days before) the
Interest Payment Date stating such election and the amount of the interest
payment to be satisfied through the issuance of Subsequent Notes. The Company
may deliver any interest payment to the Paying Agent or to a Holder at the
Holder’s registered address.

     3. Paying Agent and Registrar. Initially, U.S. Bank National Association,
a national banking association (the “Trustee”), will act as Paying Agent and
Registrar. The Company may change any Paying Agent, Registrar or co-Registrar
without notice to the Holders. Neither the Company nor any of its Subsidiaries
or Affiliates may act as Paying Agent but may act as Registrar or co-Registrar.

     4. Indenture. The Company issued this Note under an Indenture, dated as
of May 21, 2004 (the “Indenture”), by and among the Company, the Guarantors and
the Trustee. This Note is one of a duly authorized issue of Notes of the
Company designated as its Series B 12.5% Senior Subordinated Notes due 2010
(the “Exchange Notes”) issued in exchange for the initial 12.5% Senior
Subordinated Notes due 2010 (the “Initial Notes” and, together with the
Exchange Notes, the “Notes”). The Notes are limited in aggregate principal
amount to the principal amount of the Existing Notes (plus accrued interest and
any fees owing in respect thereof) exchanged into Initial Notes under

B-3

 

the Indenture plus the amount of Subsequent Notes issued under the
Indenture. The Notes include the Initial Notes, the Subsequent Notes and the
Exchange Notes issued pursuant to the Indenture. The Initial Notes, the
Subsequent Notes and the Exchange Notes are treated as a single class of
securities under the Indenture. Capitalized terms herein are used as defined
in the Indenture unless otherwise defined herein. The terms of the Notes
include those stated in the Indenture and those made part of the Indenture by
reference to the Trust Indenture Act of 1939 (15 U.S. Code Sections
77aaa-77bbbb) (the “TIA”), as in effect on the date of the Indenture.
Notwithstanding anything to the contrary herein, the Notes include all such
terms, and Holders are referred to the Indenture and the TIA for a statement of
them. The Notes are general unsecured obligations of the Company.

     5. Subordination. The Notes are unsecured obligations of the Company and
subordinated in right of payment, in the manner and to the extent set forth in
the Indenture, to the prior payment in full in cash of all Senior Indebtedness
of the Company, whether outstanding on the date of the Indenture or thereafter
created, incurred, assumed or guaranteed. Each Holder by his acceptance hereof
agrees to be bound by such provisions and authorizes and expressly directs the
Trustee, on his behalf, to take such action as may be necessary or appropriate
to effectuate the subordination provided for in the Indenture and appoints the
Trustee his attorney-in-fact for such purposes.

     6. Guarantee. The obligations of the Company hereunder are guaranteed on
a senior subordinated basis by the Guarantors. Each Guarantee by a Guarantor
is subordinated in right of payment to all Guarantor Senior Indebtedness of
such Guarantor to the same extent that the Notes are subordinated to Senior
Indebtedness of the Company.

     7. Optional Redemption.

     On or after the Issue Date, the Company may redeem the Notes, at its
option, in whole at any time or in part from time to time, at the following
Redemption Prices (expressed as percentages of the principal amount thereof) if
redeemed during the twelve-month period commencing on March 31 of each year set
forth below plus, in each case, accrued and unpaid interest thereon, if any, to
the date of redemption:

	 	 	 	 	 
	Year
	 	Percentage

	2004
	 	 	103.000	%
	2005
	 	 	103.000	%
	2006
	 	 	102.000	%
	2007
	 	 	101.000	%
	2008 and thereafter
	 	 	100.000	%

     8. Notice of Redemption. Notice of redemption under paragraph 7 of this
Note will be mailed at least 30 days but not more than 60 days before the
Redemption Date to each Holder to be redeemed at such Holder’s registered
address.

     Except as set forth in the Indenture, if monies for the redemption of the
Notes called for redemption shall have been deposited with the Paying Agent for
redemption on such Redemption Date, then, unless the Company defaults in the
payment of such Redemption Price plus accrued interest, if any, the Notes
called for redemption will cease to bear interest from and after such
Redemption Date and the only right of the Holders of such Notes will be to receive
payment of the Redemption Price plus accrued interest, if any.

B-4

 

     9. Offers to Purchase. The Indenture provides that, after certain Asset
Sales (as defined in the Indenture) and upon the occurrence of a Change of
Control (as defined in the Indenture), and subject to further limitations
contained therein, the Company will make an offer to purchase certain amounts
of the Notes in accordance with the procedures set forth in the Indenture.

     10. Denominations; Transfer; Exchange. The Notes are in registered form,
without coupons, in denominations of $1.00 and integral multiples thereof. A
Holder shall register the transfer or exchange of Notes in accordance with the
Indenture. The Registrar may require a Holder, among other things, to furnish
appropriate endorsements and transfer documents and to pay certain transfer
taxes or similar governmental charges payable in connection therewith as
permitted by the Indenture. The Registrar need not register the transfer of or
exchange of any Notes or portions thereof selected for redemption.

     11. Persons Deemed Owners. The registered holder of a Note shall be
treated as the owner of it for all purposes.

     12. Unclaimed Money. If money for the payment of principal or interest
remains unclaimed for two years, the Trustee and the Paying Agent will pay the
money back to the Company. After that, Holders entitled to money must look to
the Company for payment as general creditors unless an “abandoned property” law
designates another person.

     13. Legal Defeasance and Covenant Defeasance. If the Company at any time
deposits with the Trustee U.S. legal tender or U.S. Government Obligations
sufficient to pay the principal of and interest on the Notes to redemption or
maturity and complies with the other provisions of the Indenture relating to
defeasance, the Company will be discharged from certain provisions of the
Indenture and the Notes (including certain covenants, but excluding its
obligation to pay the principal of and interest on the Notes).

     14. Amendments, Supplements, and Waivers. Subject to certain exceptions,
the Indenture or the Notes may be amended or supplemented with the written
consent of the Holders of at least a majority in aggregate principal amount of
the Notes then outstanding, and any existing Default or Event of Default or
noncompliance with any provision may be waived with the written consent of the
Holders of a majority in aggregate principal amount of the Notes then
outstanding. Without notice to or consent of any Holder, the parties thereto
may amend or supplement the Indenture or the Notes to, among other things, cure
any ambiguity, defect or inconsistency, provide for uncertificated Notes in
addition to or in place of certificated Notes or make any other change that
does not adversely affect in any material respect the rights of any Holder.

     15. Restrictive Covenants. The Indenture imposes certain limitations on
the ability of the Company and its Subsidiaries to, among other things, incur
additional Indebtedness, make payments in respect of its Capital Stock, enter
into transactions with Affiliates, create dividend or other payment
restrictions affecting Restricted Subsidiaries, sell assets, create liens,
issue capital stock, enter into sale and lease-back transactions, make certain
Investments, merge or consolidate with any other Person, or sell, assign,
transfer, lease, convey or otherwise dispose of all or substantially
all of its assets. Such limitations are subject to a number of important
qualifications and exceptions. The Company must annually report to the Trustee
on compliance with such limitations.

B-5

 

     16. Successor Entity. When a successor entity assumes, in accordance with
the Indenture, all the obligations of its predecessor under the Notes and the
Indenture, and immediately before and thereafter no Default or Event of Default
exists and certain other conditions are satisfied, the predecessor entity will
be released from those obligations.

     17. Defaults and Remedies. Events of Default are set forth in the
Indenture. If an Event of Default (other than an Event of Default pursuant to
Section 6.01(h) or (i) of the Indenture) shall have occurred and be continuing,
then the Trustee or the Holders of not less than 25% in aggregate principal
amount of the Notes then outstanding, may declare to be immediately due and
payable the entire principal amount of all the Notes then outstanding plus
accrued interest to the date of acceleration; provided, however, that after
such acceleration but before a judgment or decree based on such acceleration is
obtained by the Trustee, the Holders of a majority in aggregate principal
amount of the outstanding Notes may rescind and annul such acceleration and its
consequences if all existing Events of Default, other than the nonpayment of
principal, premium, if any, or interest that has become due solely because of
the acceleration, have been cured or waived. No such rescission shall affect
any subsequent Default or impair any right consequent thereto. In case an
Event of Default specified in Section 6.01(h) or (i) of the Indenture occurs,
such principal amount, together with premium, if any, and interest with respect
to all of the Notes, shall be due and payable immediately without any
declaration or other act on the part of the Trustee or the Holders.

     18. Trustee Dealings with Company. The Trustee under the Indenture, in
its individual or any other capacity, may make loans to, accept deposits from,
and perform services for the Company, and may otherwise deal with the Company,
its Subsidiaries or their respective Affiliates as if it were not the Trustee.

     19. No Recourse Against Others. As more fully described in the Indenture,
no director, officer, employee, stockholder or incorporator, as such, of the
Company shall have any liability for any obligation of the Company under the
Notes or the Indenture or for any claim based on, in respect of or by reason of
such obligations or their creation. Each Holder by accepting a Note waives and
releases all such liability. Such waiver and release are part of the
consideration for the issuance of the Notes.

     20. Authentication. This Note shall not be valid until the Trustee or
Authenticating Agent manually signs the certificate of authentication on this
Note.

     21. Governing Law. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE
AND PERFORMED WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF
CONFLICTS OF LAW. EACH OF THE PARTIES TO THE INDENTURE HAS AGREED TO SUBMIT TO
THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS NOTE.

     22. Abbreviations and Defined Terms. Customary abbreviations may be used
in the name of a Holder or an assignee, such as: TEN COM (= tenants in
common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and
not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to
Minors Act).

B-6

 

     23. CUSIP Numbers. Pursuant to a recommendation promulgated by the
Committee on Uniform Security Identification Procedures, the Company has caused
CUSIP numbers to be printed on the Notes as a convenience to the Holders. No
representation is made as to the accuracy of such numbers as printed on the
Notes and reliance may be placed only on the other identification numbers
printed hereon.

     24. Indenture. Each Holder, by accepting a Note, agrees to be bound by
all of the terms and provisions of the Indenture, as the same may be amended
from time to time.

     The Company will furnish to any Holder upon written request and without
charge a copy of the Indenture, which has the text of this Note in larger type.
Requests may be made to: Transportation Technologies Industries, Inc., 980 N.
Michigan Ave., Suite 1000, Chicago, IL 60611, Attention: General Counsel.

B-7

 

FORM OF GUARANTEE

     Each Guarantor (capitalized terms used herein have the meanings given such
terms in the Indenture referred to in the Note upon which this notation is
endorsed) hereby unconditionally guarantees on a senior subordinated basis
(such guarantee being referred to herein as the “Guarantee”) the due and
punctual payment of the principal of, premium, if any, and interest on the
Notes, whether at maturity, by acceleration or otherwise, the due and punctual
payment of interest on the overdue principal, premium and interest on the
Notes, and the due and punctual performance of all other obligations of the
Company to the Holders or the Trustee, all in accordance with the terms set
forth in Article 10 of the Indenture.

     The obligations of each Guarantor to the Holders and to the Trustee
pursuant to the Guarantee and the Indenture are expressly set forth, and are
expressly subordinated and subject in right of payment to the prior payment in
full of all Guarantor Senior Indebtedness of each Guarantor, to the extent and
in the manner provided in Article 11 of the Indenture.

     This Guarantee shall not be valid or obligatory for any purpose until the
certificate of authentication on the Notes upon which this Guarantee is noted
shall have been executed by the Trustee under the Indenture by the manual
signature of one of its authorized officers.

     This Guarantee shall be governed by and construed in accordance with the
laws of the State of New York without regard to principles of conflicts of law.

     This Guarantee is subject to release upon the terms set forth in the
Indenture.

	 	 	 	 	 
	 	TRUCK COMPONENTS, INC.

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	GUNITE CORPORATION

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

B-8

 

	 	 	 	 	 

	 	 	 	 	 
	 	GUNITE EMI CORPORATION

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	BRILLION IRON WORKS, INC.

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	FABCO AUTOMOTIVE CORPORATION

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	BOSTROM HOLDINGS, INC.

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	BOSTROM SEATING, INC.

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	BOSTROM SPECIALTY SEATING, INC.

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

B-9

 

	 	 	 	 	 

	 	 	 	 	 
	 	IMPERIAL GROUP HOLDING CORP. — 1

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	IMPERIAL GROUP HOLDING CORP. — 2

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	IMPERIAL GROUP, L.P.

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	JAII MANAGEMENT COMPANY

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

B-10

 

	 	 	 	 	 

ASSIGNMENT FORM

     If you the Holder want to assign this Note, fill in the form below and
have your signature guaranteed:

I or we assign and transfer this Note to: 

(Print or type name, address and zip code and

social security or tax ID number of assignee)

and irrevocably appoint 

, agent to transfer this Note on the books of the Company. The agent may
substitute another to act for him.

	 	 	 	 	 	 	 	 	 	 	 
	Date:

	 	 	 	 	 	Signed:	 	 	 	 
	 	 	
	 	 	 	 	 	

(Sign exactly as your name appears on the
other side of this Note)

	 	 	 	 	 
	Medallion Guarantee:
	 	 	 	 
	

	 	

	 	 

B-11

 

[OPTION OF HOLDER TO ELECT PURCHASE]

     If you want to elect to have this Note purchased by the Company pursuant
to Section 4.13 or Section 4.16 of the Indenture, check the appropriate box:

Section 4.13
o

Section 4.16 o

     If you want to elect to have only part of this Note purchased by the
Company pursuant to Section 4.13 or Section 4.16 of the Indenture, state the
amount you elect to have purchased:

	 	 	 	 	 
	$
	 	 	 	 
	

	 	

	 	 

	 	 	 	 	 	 	 
	Date:
	 	 	 	 	 	 
	

	 	

	 	 	 	

NOTICE: The signature on this assignment
must correspond with the name as it
appears upon the face of the within Note
in every particular without alteration or
enlargement or any change whatsoever and
be guaranteed by the endorser’s bank or
broker.

	 	 	 	 	 
	Medallion Guarantee:
	 	 	 	 
	

	 	

	 	 

B-12

 

EXHIBIT C

CERTIFICATE TO BE DELIVERED UPON EXCHANGE

OR REGISTRATION OF TRANSFER OF NOTES

Re: Transportation Technologies Industries, Inc. (the “Company”)

12.5% Senior Subordinated Notes due 2010 (the “Notes”)

     This Certificate relates to $                    principal amount of Notes held in
the form of*                     a beneficial interest in a Global Note or*                    
Certificated Notes by                     (the “Transferor”).

     The Transferor:

      o  has requested by written order that the Registrar
deliver in exchange for its beneficial interest in the Global Note held
by the Depository a Certificated Note or Certificated Notes in
definitive, registered form of authorized denominations and an aggregate
number equal to its beneficial interest in such Global Note (or the
portion thereof indicated above); or

      o  has requested by written order that the Registrar
exchange or register the transfer of a Certificated Note or Certificated
Notes.

      In connection with such request and in respect of each such Note,
the Transferor does hereby certify that the Transferor is familiar with
the Indenture relating to the above captioned Notes and the restrictions
on transfers thereof as provided in Section 2.16 of such Indenture, and
that the transfer of the Notes does not require registration under the
Securities Act of 1933, as amended (the “Securities Act”), because*:

      o  Such Note is being acquired for the Transferor’s own
account, without transfer (in satisfaction of Section 2.16 of the
Indenture).

      o  Such Note is being transferred to a “qualified
institutional buyer” (as defined in Rule 144A under the Securities Act),
in reliance on Rule 144A.

      o  Such Note is being transferred to an institutional
“accredited investor” (within the meaning of subparagraph (a)(1), (2),
(3) or (7) of Rule 501 under the Securities Act) which delivers a
certificate to the Trustee in the form of Exhibit C to the Indenture.

      o  Such Note is being transferred in reliance on
Regulation S under the Securities Act and a transfer certificate for
Regulation S transfers in the form of Exhibit E to the Indenture
accompanies this certification. [An Opinion of Counsel to the effect
that such transfer does not require registration under the Securities Act
accompanies this certification.]

C-1

 

      o  Such Note is being transferred in reliance on Rule 144
under the Securities Act. [An Opinion of Counsel to the effect that such
transfer does not require registration under the Securities Act
accompanies this certification.]

      o  Such Note is being transferred in reliance on and in
compliance with an exemption from the registration requirements of the
Securities Act other than Rule 144A or Rule 144 under the Securities Act
to a person other than an institutional “accredited investor.” [An
Opinion of Counsel to the effect that such transfer does not require
registration under the Securities Act accompanies this certification.]

	 	 	 
	

	 	

	 

	 	[INSERT NAME OF TRANSFEROR]

	 	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	

	

	 	 	 	[Authorized Signatory]

Date:                                      

*Check applicable box.

C-2

 

EXHIBIT D

Form of Transferee Letter of Representation

[TRUSTEE]

Attention: Corporate Trust Division

Ladies and Gentlemen:

     This certificate is delivered to request a transfer of $   principal
amount of the 12.5% Senior Subordinated Notes due 2010, Series A, of
Transportation Technologies Industries, Inc. (the “Company”) and any guarantee
thereof (the “Notes”). Upon transfer, the Notes would be registered in the
name of the new beneficial owner as follows:

	 	 	 
	 

	 	Name:                                                                            
	

	 	Address:                                                                      
	

	 	Taxpayer ID Number:                                                
	 
	 	 
	

	 	The undersigned represents and warrants to you that:

     1. We are an institutional “accredited investor” (as defined in Rule
501(a)(1), (2), (3) or (7) under the Securities Act of 1933 (the “Securities
Act”)) purchasing Notes for our own account or for the account of such an
institutional “accredited investor” and we are acquiring the Notes not with a
view to, or for offer or sale in connection with, any distribution in violation
of the Securities Act. We have such knowledge and experience in financial and
business matters as to be capable of evaluating the merits and risk of our
investment in the Notes and we invest in or purchase securities similar to the
Notes in the normal course of our business. We and any accounts for which we
are acting are each able to bear the economic risk of our or its investment.

     2. We acknowledge that we have had access to such financial and other
information, and have been afforded the opportunity to ask such questions of
representatives of the Company and receive answers thereto, as we deem
necessary.

     3. We understand that the Notes have not been registered under the
Securities Act and, unless so registered, may not be sold except as permitted
in the following sentence. We agree on our own behalf and on behalf of any
investor account for which we are purchasing Notes that we will not prior to
the date (the “Resale Restriction Termination Date”) that is two years after
the later of the original issuance of the Notes and the last date on which the
Company or any affiliate of the Company was the owner of such Notes (or any
predecessor thereto) offer, sell or otherwise transfer such Notes except (a) to
the Company or any subsidiary of the Company, (b) inside the United States to a
“qualified institutional buyer” in compliance with Rule 144A under the
Securities Act, (c) inside the United States to an “institutional accredited
investor” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities
Act that, prior to such transfer, furnishes (or has furnished on its behalf by
a U.S. broker-dealer) to the Trustee a signed letter substantially in the form
of this letter,(d) outside the United States in an offshore transaction in
compliance with Rule 904 under the Securities Act, (e) pursuant to any other
available exemption from the registration requirements of the Securities Act or
(f) pursuant to an effective registration statement under the Securities Act.
We acknowledge that the Company and the Trustee reserve the right prior to any
offer, sale or other transfer prior to the Resale Restriction Termination Date
of the applicable Notes pursuant to clause (c) or (e) above
to require the delivery of an opinion of counsel, certification and/or other information
satisfactory to the Company and the Trustee.

D-1

 

     We understand that the Trustee will not be required to accept for
registration of transfer any Notes acquired by us, except upon presentation of
evidence satisfactory to the Company and the Trustee that the foregoing
restrictions on transfer have been complied with. We further understand that
any Notes purchased by us will be in the form of definitive physical
certificates and that such certificates will bear a legend reflecting the
substance of paragraph 3 of this letter. We further agree to provide to any
person acquiring any of the Notes from us a notice advising such person that
transfers of such Notes are restricted as stated herein and that certificates
representing such Notes will bear a legend to that effect.

     We represent that the Company and the Trustee and others are entitled to
rely upon the truth and accuracy of our acknowledgments, representations and
agreements set forth herein, and we agree to notify you promptly in writing if
any of our acknowledgments, representations or agreements herein cease to be
accurate and complete. You are also irrevocably authorized to produce this
letter or a copy hereof to any interested party in any administrative or legal
proceeding or official inquiry with respect to the matters covered hereby.

     We represent to you that we have full power to make the foregoing
acknowledgments, representations and agreements on our own behalf and on behalf
of any investor account for which we are acting as fiduciary agent.

     As used herein, the terms “offshore transaction,” “United States” and
“U.S. person” have the respective meanings given to them in Regulation S under
the Securities Act.

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

	 	 	 
	Dated:                                      

	 	TRANSFEREE:
	 
	 	 
	

	 	By:                                                         

D-2

 

EXHIBIT E

Form of Certificate To Be

Delivered in Connection

with Regulation S Transfers

_______________, ____

[TRUSTEE]

Attention: Corporate Trust Division

	 	 	 
	Re:

	 	Transportation Technologies Industries, Inc. 12.5% Senior
Subordinated Notes due 2010, Series A (the “Notes”)

Ladies and Gentlemen:

     In connection with our proposed sale of $   aggregate principal
amount of the Notes, we confirm that such sale has been effected pursuant to
and in accordance with Regulation S under the Securities Act of 1933, as
amended (the “Securities Act”), and, accordingly, we represent that:

          (1) the offer of the Notes was not made to a person in the United
States;

          (2) either (a) at the time the buy offer was originated, the
transferee was outside the United States or we and any person acting on
our behalf reasonably believed that the transferee was outside the United
States, or (b) the transaction was executed in, on or through the
facilities of a designated off-shore securities market and neither we nor
any person acting on our behalf knows that the transaction has been
prearranged with a buyer in the United States;

          (3) no directed selling efforts have been made in the United States
in contravention of the requirements of Rule 903(a) or Rule 904(a) of
Regulation S, as applicable;

          (4) the transaction is not part of a plan or scheme to evade the
registration requirements of the Securities Act; and

          (5) we have advised the transferee of the transfer restrictions
applicable to the Notes.

E-1

 

          You and the Company are entitled to rely upon this letter and are
irrevocably authorized to produce this letter or a copy hereof to any
interested party in any administrative or legal proceedings or official inquiry
with respect to the matters covered hereby. Defined terms used herein without
definition have the respective meanings provided in Regulation S.

	 	 	 
	

	 	Very truly yours,
	 
	 	 
	

	 	[Name of Transferor]
	 
	 	 
	

	 	By:                                                         

E-2

 

EXHIBIT F

FORM OF SUPPLEMENTAL INDENTURE

     SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
        , among (the “New Guarantor”), a subsidiary of
Transportation Technologies Industries, Inc. (or its successor), a Delaware
corporation (the “Company”), the Guarantors (the “Existing Guarantors”) under
the Indenture referred to below, and U.S. Bank National Association, as trustee
under the Indenture referred to below (the “Trustee”).

W I T N E S S E T H :

     WHEREAS the Company has heretofore executed and delivered to the Trustee
an Indenture (as such may be amended from time to time, the “Indenture”), dated
as of May 21, 2004, providing for the issuance of its 12.5% Senior Subordinated
Notes due 2010 (the “Notes”);

     WHEREAS Section 4.20 of the Indenture provides that under certain
circumstances the Company is required to cause the New Guarantor to execute and
deliver to the Trustee a supplemental indenture pursuant to which the New
Guarantor shall unconditionally guarantee all of the Company’s obligations
under the Notes pursuant to a Guarantee on the terms and conditions set forth
herein; and

     WHEREAS pursuant to Section 8.01 of the Indenture, the Trustee, the
Company and Existing Guarantors are authorized to execute and deliver this
Supplemental Indenture;

     NOW THEREFORE, in consideration of the foregoing and for other good and
valuable consideration, the receipt of which is hereby acknowledged, the New
Guarantor, the Company, the Existing Guarantors and the Trustee mutually
covenant and agree for the equal and ratable benefit of the Holders as follows:

     1. Definitions. (a) Capitalized terms used herein without definition
shall have the meanings assigned to them in the Indenture.

     (b) For all purposes of this Supplemental Indenture, except as otherwise
herein expressly provided or unless the context otherwise requires: (i) the
terms and expressions used herein shall have the same meanings as corresponding
terms and expressions used in the Indenture; and (ii) the words “herein,”
“hereof” and “hereby” and other words of similar import used in this
Supplemental Indenture refer to this Supplemental Indenture as a whole and not
to any particular section hereof.

     2. Agreement to Guarantee. The New Guarantor hereby agrees, jointly and
severally with all other Guarantors, to Guarantee the Company’s obligations
under the Notes on the terms and subject to the conditions set forth in Article
10 of the Indenture and to be bound by all other applicable provisions of the
Indenture. From and after the date hereof, the New Guarantor shall be a
Guarantor for all purposes under the Indenture and the Notes.

     3. Ratification of Indenture; Supplemental Indentures Part of Indenture.
Except as expressly amended hereby, the Indenture is in all respects ratified
and confirmed and all the terms, conditions and provisions thereof shall remain
in full force and effect. This Supplemental Indenture

F-1

 

shall form a part of the Indenture for all purposes, and every Holder
heretofore or hereafter authenticated and delivered shall be bound hereby.

     4. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO
CONTRACTS MADE AND PERFORMED WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO
PRINCIPLES OF CONFLICTS OF LAW. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO
THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE.

     5. Trustee Makes No Representation. The Trustee shall not be responsible
in any manner whatsoever for or in respect of the validity or sufficiency of
this Supplemental Indenture or for or in respect of the recitals contained
herein, all of which are made solely by the Company.

     6. Multiple Counterparts. The parties may sign multiple counterparts of
this Supplemental Indenture. Each signed counterpart shall be deemed an
original, but all of them together represent one and the same agreement.

     7. Headings. The headings of this Supplemental Indenture have been
inserted for convenience of reference only, are not to be considered a part
hereof, and shall in no way modify or restrict any of the terms or provisions
hereof.

F-2

 

     IN WITNESS WHEREOF, the parties hereto have caused this Supplemental
Indenture to be duly executed as of the date and year first above written.

	 	 	 	 	 
	 	[NEW GUARANTOR]

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	TRANSPORTATION TECHNOLOGIES INDUSTRIES,

INC.

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 

F-3

 

	 	 	 	 	 
	 	EXISTING GUARANTORS:

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

F-4

 

	 	 	 	 	 

EXHIBIT G

FORM OF REGISTRATION RIGHTS AGREEMENT

[to come]

F-5FIRST LIEN CREDIT AGREEMENT

 

Exhibit 4.3

Execution Version

CREDIT AGREEMENT

DATED AS OF MARCH 16, 2004

By and Among

TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC.,

as Borrower,

THE LENDERS PARTY HERETO FROM TIME TO TIME,

as Lenders,

AND

LEHMAN BROTHERS INC.,

as Joint Bookrunner and Joint Lead Arranger,

LEHMAN COMMERCIAL PAPER INC.,

As Co-Syndication Agent

WACHOVIA CAPITAL MARKETS, LLC,

as Co-Syndication Agent, Joint Bookrunner and Joint Lead Arranger,

CREDIT SUISSE FIRST BOSTON,

as Administrative Agent, Collateral Agent, Joint Bookrunner and Joint Lead Arranger

$165,000,000 FIRST LIEN SECURED CREDIT FACILITY

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page

	 
	 	SECTION 1.
 DEFINITIONS	 	 	 	 
	1.1
	 	Certain Defined Terms	 	 	2	 
	1.2
	 	Defined Terms; Accounting Terms; Utilization of GAAP for Purposes of Calculations Under Agreement	 	 	24	 
	 
	 	SECTION 2.
 AMOUNTS AND TERMS OF COMMITMENTS AND LOANS	 	 	 	 
	2.1
	 	Commitments; Loans	 	 	25	 
	2.2
	 	Interest on the Loans	 	 	29	 
	2.3
	 	Fees	 	 	32	 
	2.4
	 	Repayments and Prepayments; General Provisions Regarding Payments	 	 	32	 
	2.5
	 	Use of Proceeds	 	 	37	 
	2.6
	 	Special Provisions Governing Eurodollar Rate Loans	 	 	37	 
	2.7
	 	Increased Costs; Taxes	 	 	39	 
	2.8
	 	Mitigation Obligations; Replacement of Lenders	 	 	41	 
	 
	 	SECTION 3.
 LETTERS OF CREDIT	 	 	 	 
	3.1
	 	Issuance of Letters of Credit and
Lenders’ Purchase of Participations Therein	 	 	42	 
	3.2
	 	Letter of Credit Fees	 	 	43	 
	3.3
	 	Drawings and Payments and Reimbursement of Amounts Drawn or Paid Under Letters of Credit	 	 	44	 
	3.4
	 	Obligations Absolute	 	 	45	 
	3.5
	 	Nature of Issuing Bank’s Duties	 	 	46	 
	 
	 	SECTION 4.
 CONDITIONS TO EFFECTIVENESS	 	 	 	 
	4.1
	 	Conditions to Effectiveness	 	 	47	 
	4.2
	 	Conditions to All Loans	 	 	51	 
	4.3
	 	Conditions to Letters of Credit	 	 	52	 
	 
	 	SECTION 5.
 REPRESENTATIONS AND WARRANTIES	 	 	 	 
	5.1
	 	Organization, Powers, Qualification, Good Standing, Business and Subsidiaries	 	 	52	 
	5.2
	 	Authorization, etc.	 	 	53	 
	5.3
	 	Financial Condition; Projections	 	 	54	 
	5.4
	 	No Material Adverse Change; No Restricted Payments	 	 	55	 
	5.5
	 	Title to Properties; Liens; Real Property; Intellectual Property	 	 	55	 
	5.6
	 	Litigation, Adverse Facts	 	 	55	 
	5.7
	 	Payment of Taxes	 	 	56	 
	5.8
	 	Performance of Agreements; Materially Adverse Agreements	 	 	56	 
	5.9
	 	Governmental Regulation	 	 	56	 
	5.10
	 	Securities Activities	 	 	56	 
	5.11
	 	ERISA	 	 	56	 
	5.12
	 	Certain Fees	 	 	57	 

-i-

 

	 	 	 	 	 	 	 
	 	 	 	 	Page

	5.13
	 	Environmental Matters	 	 	57	 
	5.14
	 	Employee Matters	 	 	58	 
	5.15
	 	Solvency	 	 	58	 
	5.16
	 	Transaction Documents	 	 	58	 
	5.17
	 	Disclosure	 	 	59	 
	5.18
	 	Indebtedness	 	 	59	 
	 
	 	SECTION 6.
 AFFIRMATIVE COVENANTS	 	 	 	 
	6.1
	 	Financial Statements and Other Reports	 	 	59	 
	6.2
	 	Corporate Existence	 	 	63	 
	6.3
	 	Payment of Taxes and Claims; Tax Consolidation	 	 	63	 
	6.4
	 	Maintenance of Properties; Insurance	 	 	63	 
	6.5
	 	Inspection; Lender Meeting	 	 	63	 
	6.6
	 	Compliance with Laws, etc.	 	 	64	 
	6.7
	 	Environmental Laws	 	 	64	 
	6.8
	 	[Intentionally Omitted]	 	 	64	 
	6.9
	 	Execution of Guaranty and Collateral Documents by Future Domestic Subsidiaries	 	 	64	 
	6.10
	 	Interest Rate Protection	 	 	65	 
	6.11
	 	Further Assurances	 	 	65	 
	6.12
	 	Matters Relating to Additional and Closing Real Property Collateral	 	 	65	 
	6.13
	 	Cash Concentration and Lockbox System	 	 	67	 
	6.14
	 	Credit Rating	 	 	67	 
	6.15
	 	Post-Closing Covenant	 	 	67	 
	 
	 	SECTION 7.
 NEGATIVE COVENANTS	 	 	 	 
	7.1
	 	Indebtedness	 	 	68	 
	7.2
	 	Liens	 	 	69	 
	7.3
	 	Investments	 	 	69	 
	7.4
	 	Nature of Business	 	 	69	 
	7.5
	 	Restricted Payments	 	 	69	 
	7.6
	 	Financial Covenants	 	 	70	 
	7.7
	 	Restriction on Fundamental Changes; Asset Dispositions	 	 	72	 
	7.8
	 	Sales and Lease-Backs	 	 	74	 
	7.9
	 	Sale or Discount of Receivables	 	 	74	 
	7.10
	 	Transactions with Shareholders and Affiliates	 	 	74	 
	7.11
	 	Ownership of Subsidiary Stock	 	 	74	 
	7.12
	 	Limitation on Restricted Actions	 	 	74	 
	7.13
	 	Modifications of Indebtedness, etc.	 	 	75	 
	7.14
	 	No Further Negative Pledges	 	 	75	 
	7.15
	 	Fiscal Year; Organizational Documents; Material Contracts	 	 	76	 
	 
	 	SECTION 8.
 EVENTS OF DEFAULT	 	 	 	 
	8.1
	 	Failure To Make Payments When Due	 	 	76	 
	8.2
	 	Default in Other Agreements	 	 	76	 
	8.3
	 	Breach of Certain Covenants	 	 	76	 
	8.4
	 	Breach of Warranty	 	 	77	 
	8.5
	 	[Intentionally Omitted]	 	 	77	 
	8.6
	 	Involuntary Bankruptcy; Appointment
of Receiver, etc.	 	 	77	 
	8.7
	 	Voluntary Bankruptcy; Appointment
of Receiver, etc.	 	 	77	 

-ii-

 

	 	 	 	 	 	 	 
	 	 	 	 	Page

	8.8
	 	Judgments and Attachments	 	 	77	 
	8.9
	 	Dissolution	 	 	77	 
	8.10
	 	Employee Benefit Plans	 	 	78	 
	8.11
	 	Change in Control	 	 	78	 
	8.12
	 	Invalidity of Guaranties	 	 	78	 
	8.13
	 	Failure of Security	 	 	78	 
	 
	 	SECTION 9.
 AGENTS	 	 	 	 
	9.1
	 	Appointment	 	 	79	 
	9.2
	 	Rights as a Lender	 	 	80	 
	9.3
	 	Exculpatory Provisions	 	 	80	 
	9.4
	 	Reliance by the Agents	 	 	80	 
	9.5
	 	Delegation of Duties	 	 	81	 
	9.6
	 	Resignation of Administrative Agent and/or Collateral Agent; Successor Swing Line Lender	 	 	81	 
	9.7
	 	Collateral Documents	 	 	82	 
	9.8
	 	Non-Reliance on Agents and Other Lenders	 	 	82	 
	 
	 	SECTION 10.
 MISCELLANEOUS	 	 	 	 
	10.1
	 	Assignments and Participations in Loans	 	 	82	 
	10.2
	 	Expenses; Indemnity; Damage Waiver	 	 	85	 
	10.3
	 	Right of Set-Off; Security Interest in Deposit Accounts	 	 	86	 
	10.4
	 	Sharing of Payments by Lenders	 	 	86	 
	10.5
	 	Amendments and Waivers	 	 	86	 
	10.6
	 	Independence of Covenants	 	 	88	 
	10.7
	 	Notices	 	 	88	 
	10.8
	 	Survival of Representations, Warranties and Agreements	 	 	89	 
	10.9
	 	Failure or Indulgence Not Waiver; Remedies Cumulative	 	 	89	 
	10.10
	 	Marshalling; Payments Set Aside	 	 	90	 
	10.11
	 	Severability	 	 	90	 
	10.12
	 	Obligations Several; Independent
Nature of the Lenders’ Rights	 	 	90	 
	10.13
	 	Maximum Amount	 	 	90	 
	10.14
	 	Headings	 	 	91	 
	10.15
	 	Applicable Law	 	 	91	 
	10.16
	 	[Intentionally Omitted]	 	 	91	 
	10.17
	 	Consent to Jurisdiction and Service of Process	 	 	91	 
	10.18
	 	Waiver of Jury Trial	 	 	91	 
	10.19
	 	Confidentiality	 	 	92	 
	10.20
	 	Counterparts; Integration; Effectiveness; Electronic Execution	 	 	92	 

EXHIBITS

	 	 	 
	I

	 	FORM OF NOTICE OF BORROWING
	II

	 	FORM OF NOTICE OF CONVERSION/CONTINUATION
	III

	 	FORM OF NOTICE OF ISSUANCE OF LETTER OF CREDIT
	IV-A

	 	FORM OF TERM NOTE
	IV-B

	 	FORM OF REVOLVING NOTE
	IV-C

	 	FORM OF SWING LINE NOTE
	V

	 	FORM OF SUBSIDIARY GUARANTY
	VI

	 	FORM OF PLEDGE AGREEMENT
	VII

	 	FORM OF SECURITY AGREEMENT

-iii-

 

	 	 	 
	VIII

	 	FORM OF COMPLIANCE CERTIFICATE
	IX

	 	FORM OF OPINIONS OF COUNSEL TO LOAN PARTIES
	X

	 	FORM OF FINANCIAL CONDITION CERTIFICATE
	XI

	 	FORM OF ASSIGNMENT AGREEMENT
	XII

	 	FORM OF COLLATERAL ACCOUNT AGREEMENT
	XIII

	 	FORM OF MORTGAGE
	XIV

	 	FORM OF INTERCREDITOR AGREEMENT

SCHEDULES

	 	 	 
	1.1(a)

	 	CERTAIN ADJUSTMENTS
	1.1(b)

	 	MANAGEMENT SHAREHOLDERS
	1.1(c)

	 	EXISTING LETTERS OF CREDIT
	2.1A(i)

	 	TERM LOAN COMMITMENTS
	2.1A(ii)

	 	REVOLVING LOAN COMMITMENTS
	4.1F

	 	PLEDGED SHARES
	4.1G

	 	CLOSING DATE MORTGAGED PROPERTIES
	4.1Q

	 	CORPORATE STRUCTURE; CAPITAL STRUCTURE; OWNERSHIP
	5.1D

	 	REGISTRATION RIGHTS AGREEMENTS
	5.4

	 	CERTAIN PRE-CLOSING RESTRICTED PAYMENTS
	5.5B

	 	REAL PROPERTY
	5.13

	 	CERTAIN ENVIRONMENTAL MATTERS
	6.13

	 	CASH MANAGEMENT SYSTEM
	6.15

	 	CERTAIN POST-CLOSING ITEMS
	7.1

	 	CERTAIN EXISTING INDEBTEDNESS
	7.2

	 	CERTAIN EXISTING LIENS
	7.3

	 	CERTAIN EXISTING INVESTMENTS
	7.10

	 	CERTAIN AFFILIATE TRANSACTIONS

-iv-

 

TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC.

CREDIT AGREEMENT

     This CREDIT AGREEMENT (this “Agreement”) is dated as of March 16, 2004 and
entered into by and among TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC., a
Delaware corporation (the “Company”), THE BANKS, FINANCIAL INSTITUTIONS AND
OTHER ENTITIES PARTY HERETO FROM TIME TO TIME AS LENDERS (each individually
referred to herein as a “Lender” and collectively as “Lenders”), LEHMAN
BROTHERS INC. (“LBI”), as joint bookrunner, joint lead arranger (in such
capacity, a “Joint Lead Arranger”), LEHMAN COMMERCIAL PAPER INC. (“LCPI”), as
co-syndication agent (in such capacity, a “Co-Syndication Agent”), WACHOVIA
CAPITAL MARKETS, LLC (“WCM”), as joint bookrunner, joint lead arranger (in such
capacity, a “Joint Lead Arranger”), and co-syndication agent (in such capacity,
a “Co-Syndication Agent” and together with LCPI, the “Co-Syndication Agents”)
and CREDIT SUISSE FIRST BOSTON (“CSFB”), as administrative agent for the
Lenders (in such capacity, the “Administrative Agent”), as joint bookrunner,
joint lead arranger (in such capacity, a “Joint Lead Arranger” and together
with LBI and WCM, in such capacities, collectively, the “Joint Lead
Arrangers”), and as collateral agent for the Lenders (in such capacity, the
“Collateral Agent” and together with the Administrative Agent, the Joint Lead
Arrangers and the Co-Syndication Agents, collectively, the “Agents”) for the
Lenders.

R E C I T A L S

     WHEREAS, capitalized terms used in these Recitals shall have the
respective meanings set forth for such terms in subsection 1.1;

     WHEREAS, Lenders have agreed to extend certain credit facilities to the
Company, in an aggregate amount not to exceed $165,000,000, consisting of
$115,000,000 aggregate principal amount of Term Loans and $50,000,000 aggregate
principal amount of Revolving Loan Commitments;

     WHEREAS, the proceeds of the Term Loans will be used by the Company,
together with the proceeds of the senior second priority secured term loan
facility being entered into by the Company and the Guarantors concurrently
herewith in an aggregate principal amount equal to $100,000,000 to (i) repay in
full all obligations under the Company’s existing bank credit facilities (the
“Existing Credit Facilities”), (ii) consummate the redemption of a portion of
the Company’s outstanding Subordinated Notes in an amount up to $25,000,000 and
(iii) pay related fees and expenses in an amount up to $8,000,000;

     WHEREAS, the proceeds of borrowings under the Revolving Loans (including
Swing Line Loans) will be used for working capital and general corporate
purposes;

     WHEREAS, the Company has agreed to secure all of its Obligations by
granting to Collateral Agent, for the benefit of Secured Parties, a First
Priority Lien on substantially all of its assets, including a pledge of all of
the Capital Stock of each of its Domestic Subsidiaries and 65% of all the
Capital Stock of each of its “first-tier” Foreign Subsidiaries, subject in each
case to Permitted Liens; and

     WHEREAS, the Guarantors have agreed to guarantee the obligations of the
Company hereunder and to secure their respective Obligations by granting to
Collateral Agent, for the benefit of Secured Parties, a First Priority Lien on
substantially all of their respective assets, including a pledge of all of the
Capital Stock of each of their respective Domestic Subsidiaries and 65% of all
the Capital Stock of each of their respective “first-tier” Foreign
Subsidiaries.

     NOW, THEREFORE, in consideration of the premises and the agreements,
provisions and covenants herein contained, the parties hereto agree as follows:

 

 

SECTION 1.

DEFINITIONS

	1.1	 	Certain Defined Terms.

     The following terms used in this Agreement shall have the following
meanings:

     “Additional Mortgage” has the meaning assigned to that term in subsection
6.12B.

     “Additional Mortgage Policy” has the meaning assigned to that term in
subsection 6.12B.

     “Additional Mortgaged Property” has the meaning assigned to that term in
subsection 6.12B.

     “Administrative Agent” has the meaning assigned to that term in the
Preamble to this Agreement.

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

     “Affected Class” has the meaning assigned to that term in subsection
10.5A.

     “Affected Lender” has the meaning assigned to that term in subsection
2.6C.

     “Affected Loans” has the meaning assigned to that term in subsection 2.6C.

     “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. For
purposes of this definition, a Person shall be deemed to “control” or be
“controlled by” a Person if such Person possesses, directly or indirectly,
power either (a) to vote 10% or more of the securities having ordinary voting
power for the election of directors of such Person or (b) to direct or cause
the direction of the management and policies of such Person whether by contract
or otherwise.

     “Agents” has the meaning assigned to that term in the Preamble to this
Agreement.

     “Agreement” means this Credit Agreement dated as of March 16, 2004, as it
may be amended, restated, supplemented or otherwise modified from time to time.

     “Applicable Base Rate Margin” means (i) with respect to Term Loans that
are Base Rate Loans, 2.75% per annum and (ii) with respect to Revolving Loans
that are Base Rate Loans, 2.00% per annum.

     “Applicable Commitment Fee Percentage” means 0.50% per annum.

     “Applicable Eurodollar Rate Margin” means (i) with respect to Term Loans
that are Eurodollar Rate Loans, 3.75% per annum and (ii) with respect to
Revolving Loans that are Eurodollar Rate Loans, 3.00% per annum.

     “Applicable Laws” means, collectively, all statutes, laws, rules,
regulations, ordinances, decisions, writs, judgments, decrees, and injunctions
of any Governmental Authority affecting the Company or any of its Subsidiaries
or any Collateral or any of their other assets, whether now or hereafter
enacted and in force, and all Governmental Authorizations relating thereto, and
all covenants, conditions, and restrictions contained in any instruments at any
time in force affecting any Collateral or any part thereof, including any such
covenants, conditions and restrictions which may (i) require material
improvements, repairs or alterations in or to any Real Property Asset or any
part thereof or (ii) in any material way limit the use and enjoyment of any
Real Property Asset as used or intended to be used by the Company and its
Subsidiaries.

     “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.

-2-

 

     “Asset Disposition” means the disposition of any or all of the assets
(including, without limitation, the Capital Stock of a Subsidiary or any
ownership interest in a joint venture) of any Loan Party or any Subsidiary
whether by sale, lease, transfer or otherwise. The term “Asset Disposition”
shall not include (i) Specified Sales, (ii) the sale, lease or transfer of
assets permitted by subsection 7.7(i)(b) or (c), (iii) any issuance of equity
Securities, (iv) leases or subleases to third persons in the ordinary course of
business, (v) sales of other assets for aggregate consideration of less than
$250,000 with respect to any transaction or series of related transactions and
(vi) sales of assets in connection with sale leaseback transactions permitted
pursuant to the proviso of subsection 7.8.

     “Assignment Agreement” means an assignment and assumption agreement in
substantially the form of Exhibit XI or in such other form as may be approved
by the Administrative Agent.

     “Bankruptcy Code” means Title 11 of the United States Code entitled
“Bankruptcy,” as now and hereafter in effect, or any successor statute.

     “Base Rate” means, at any time, the higher of (x) the Prime Rate or (y)
the rate which is 1/2 of 1% in excess of the Federal Funds Effective Rate.

     “Base Rate Loans” means Loans bearing interest at rates determined by
reference to the Base Rate as provided in subsection 2.2A.

     “Business” has the meaning assigned to that term in subsection 5.13(b).

     “Business Day” means a day other than a Saturday, Sunday or other day on
which commercial banks in New York City are authorized or required by law to
close; provided that, with respect to matters relating to Eurodollar Rate
Loans, the term “Business Day” shall mean a day other than a Saturday, Sunday
or other day on which commercial banks in New York City or London, England, are
authorized or required by law to close.

     “Capital Lease” means, as applied to any Person, any lease of any property
(whether real, personal or mixed) by that Person as lessee that, in conformity
with GAAP, is or are required to be accounted for as a capital lease on the
balance sheet of that Person.

     “Capital Stock” means any and all shares, interests, participations or
other equivalents (however designated) of capital stock of a corporation, any
and all equivalent ownership interests in a Person (other than a corporation),
including, without limitation, partnership interests and membership interests,
and any and all warrants, rights or options to purchase or other arrangements
or rights to acquire any of the foregoing.

     “Cash” means money, currency or a credit balance in a Deposit Account.

     “Cash Equivalents” means, as at any date of determination, (i) marketable
securities (a) issued or directly and unconditionally guaranteed as to interest
and principal by the United States Government or (b) issued by any agency of
the United States the obligations of which are backed by the full faith and
credit of the United States, in each case maturing within one year after such
date; (ii) marketable direct obligations issued by any state of the United
States of America or any political subdivision of any such state or any public
instrumentality thereof, in each case maturing within one year after such date
and having, at the time of the acquisition thereof, a rating of at least A1
from S&P or at least P1 from Moody’s; (iii) commercial paper maturing no more
than one year from the date of creation thereof and having, at the time of the
acquisition thereof, a rating of at least A1 from S&P or at least P1 from
Moody’s; (iv) certificates of deposit or bankers’ acceptances maturing within
one year after such date and issued or accepted by any Lender or by any
commercial bank organized under the laws of the United States of America or any
state thereof or the District of Columbia that (a) is at least “adequately
capitalized” (as defined in the regulations of its primary Federal banking
regulator) and (b) has Tier I capital (as defined in such regulations) of not
less than $100,000,000; and (v) shares of any money market mutual fund that (a)
has substantially all of its assets invested continuously in the types of
investments referred to in clauses (i) and (ii) above, (b) has net assets of
not less than $500,000,000, and (c) has the highest rating obtainable from
either S&P or Moody’s.

-3-

 

     “Cash Proceeds” means, with respect to any Asset Disposition, Cash
payments (including any Cash received by way of deferred payment pursuant to,
or monetization of, a note receivable or otherwise, but only as and when so
received) received from such Asset Disposition.

     “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 or application thereof by any
Governmental Authority or (c) the making or issuance of any request, guideline
or directive (whether or not having the force of law) by any Governmental
Authority.

     “Change of Control” means, at any time, (i) if (a) prior to the
consummation of an initial public offering of the Capital Stock of the Company
(an “IPO”), the Permitted Holders shall cease to beneficially own and control
51% or more of the combined voting power of all of the Capital Stock of the
Company and (b) following the consummation of an IPO, any Person or any two or
more Persons acting in concert shall have acquired beneficial ownership (within
the meaning of Rule 13d-3 and 13d-5 under the Exchange Act), directly or
indirectly, of the Capital Stock of the Company (or other Securities
convertible into such Capital Stock) representing more of the combined voting
power of all of the Capital Stock of the Company than is owned by the Permitted
Holders, (ii) any Person or “group” (within the meaning of Rules 13d-3 and
13d-5 under the Exchange Act) other than the Permitted Holders shall have
obtained the power (whether or not exercised) to elect a majority of the
members of the board of directors (or similar governing body) of the Company,
(iii) the majority of the seats (other than vacant seats) on the board of
directors (or similar governing body) of the Company cease to be occupied by
Persons who either (a) were members of the board of directors of the Company on
the Closing Date or (b) were nominated for election by a majority of the board
of directors of the Company, who were either (I) directors on the Closing Date
or (II) whose election or nomination for election was previously approved by a
majority of such directors or (iv) any “change of control” or similar event
under the Subordinated Debt Documents, the documents governing the Preferred
Stock or the Second Lien Credit Agreement shall occur.

     “Class” means each of the following classes of the Lenders: (i) the
Lenders having Term Loan Exposure and (ii) the Lenders having Revolving Loan
Exposure.

     “Closing Date” means March 16, 2004.

     “Closing Date Mortgage” and “Closing Date Mortgages” have the meanings
assigned to these terms in subsection 4.1 G.

     “Closing Date Mortgage Policies” has the meaning assigned to that term in
subsection 4.1G.

     “Closing Date Mortgaged Property” and “Closing Date Mortgage Properties”
have the meanings assigned to these terms in subsection 4.1G.

     “Code” means the Internal Revenue Code of 1986, as amended to the date
hereof and from time to time hereafter and any successor statute.

     “Collateral” means all of the properties and assets (including Capital
Stock) of the Company and the Guarantors in which Liens are purported to be
granted by the Collateral Documents.

     “Collateral Account” has the meaning assigned to that term in the
Collateral Account Agreement.

     “Collateral Account Agreement” means the Account Agreement executed and
delivered by the Company and the Collateral Agent from time to time,
substantially in the form of Exhibit XII, as such Collateral Account Agreement
may be amended, restated, supplemented or otherwise modified from time to time.

     “Collateral Agent” means CSFB, in its capacity as collateral agent
hereunder and under the Collateral Documents, and any successor in such
capacity.

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     “Collateral Documents” means the Pledge Agreement, the Security Agreement,
the Collateral Account Agreement, the Mortgages, the Intercreditor Agreement
and any other documents, instruments or agreements delivered by any Loan Party
pursuant to this Agreement or any of the other Loan Documents in order to grant
or perfect liens on any assets of such Loan Party as security for all or any of
the Obligations.

     “Commitments” means the commitments of the Lenders to make Loans as set
forth in subsections 2.1A(i) and 2.1A(ii) of this Agreement.

     “Commonly Controlled Entity” means an entity, whether or not incorporated,
which is under common control with the Company within the meaning of Section
4001 of ERISA or is part of a group which includes the Company and which is
treated as a single employer under Section 414 of the Code.

     “Company” has the meaning assigned to that term in the Preamble to this
Agreement.

     “Compliance Certificate” means a certificate substantially in the form of
Exhibit VIII delivered to the Administrative Agent by the Company pursuant to
subsection 6.1(iv).

     “Consolidated Capital Expenditures” means, for any period, the sum of the
aggregate of all expenditures (whether paid in cash or other consideration or
accrued as a liability) by the Company and its Subsidiaries during such period
that, in accordance with GAAP, are required to be included in “additions to
property, plant or equipment” reflected in the consolidated statement of cash
flows of the Company and its Subsidiaries for such period; provided, however,
that Consolidated Capital Expenditures shall not include (i) expenditures made
to consummate any Permitted Acquisition, (ii) investments in Guarantors (so
long as such investments are not used for capital expenditures), (iii)
expenditures in respect of the reinvestment of proceeds derived from Recovery
Events, Asset Dispositions or any sale leaseback transactions permitted
pursuant to subsection 7.8, received by the Company and its Subsidiaries to the
extent that such reinvestment is permitted under the Loan Documents or (iv) the
purchase price of equipment purchased during such period to the extent the
consideration therefor consists of used or surplus equipment traded in at the
time of the purchase (or the proceeds of a substantially concurrent sale of
such used or surplus equipment) in any event, in an aggregate amount not to
exceed $1,000,000 in any Fiscal Year. Notwithstanding the foregoing, for
purposes of determining compliance with subsection 7.6D, “Consolidated Capital
Expenditures” of the Company and its consolidated Subsidiaries shall be
determined on a pro forma basis for each period of four consecutive Fiscal
Quarters during which a Permitted Acquisition shall have occurred, giving
effect to such Permitted Acquisition as if it occurred on the first day of the
relevant period, and such computations shall be set forth on a certificate as
described in subsection 6.1(iv).

     “Consolidated Current Assets” means, as at any date of determination, the
total assets of the Company and its Subsidiaries on a consolidated basis which
may properly be classified as current assets in conformity with GAAP, excluding
Cash, Cash Equivalents and deferred income taxes to the extent otherwise
included in current assets.

     “Consolidated Current Liabilities” means, as at any date of determination,
the total liabilities of the Company and its Subsidiaries on a consolidated
basis which may properly be classified as current liabilities in conformity
with GAAP, other than (i) any liabilities that are the current portion of
Indebtedness classified as long term liabilities in conformity with GAAP and
(ii) deferred income taxes to the extent otherwise included in current
liabilities.

     “Consolidated EBITDA” means, for any period, Consolidated Net Income for
such period plus, to the extent deducted in computing such Consolidated Net
Income, the sum of, without duplication, (a) income tax expense, (b) interest
expense, amortization or write-off of debt discount and debt issuance costs and
commissions, discounts and other fees and charges associated with Indebtedness
(including the Loans), (c) depreciation and amortization expense, (d) costs and
expenses incurred in connection with the Transaction, (e) deferred directors’
fees, (f) management bonuses related to the Preferred Stock paid in connection
with the Transaction, (g) fees paid to accountants and tax advisors in
connection with any tax refund received by the Company and the re-audit of the
Company’s 2001 audited financial statements, in an aggregate amount not to
exceed $1,000,000, and (h) any non-cash charges or non-cash losses, minus, to
the extent added in computing such Consolidated Net Income, (i) any interest
income and (ii) any noncash gains, all as determined on a consolidated basis
with respect to the Company and its Subsidiar-

-5-

 

ies in accordance with GAAP. Notwithstanding the foregoing, for purposes
of determining compliance with the relevant provisions of subsection 7.6,
“Consolidated EBITDA” shall be determined on a pro forma basis for each period
of four consecutive Fiscal Quarters during which a Permitted Acquisition shall
have occurred, giving effect to such Permitted Acquisition as if it occurred on
the first day of the relevant period, and such computations shall be set forth
on a certificate as described in subsection 6.1(iv).

     “Consolidated Excess Cash Flow” means, for any period, the excess of (a)
the sum of (i) Consolidated EBITDA, (ii) the Consolidated Working Capital
Adjustment and (iii) extraordinary cash income, if any, not included in
Consolidated EBITDA, over (b) the sum of (i) provisions for taxes based on
income, (ii) cash Consolidated Capital Expenditures made in accordance with
subsection 7.6D during such Fiscal Year, (iii) cash interest paid during such
Fiscal Year, (iv) Scheduled Funded Debt Payments and, in the case of purchase
money Indebtedness only, mandatory principal repayments of Indebtedness made
during such Fiscal Year, (v) prepayments of the principal of any Indebtedness
during such period (other than Indebtedness (y) under the Second Lien Credit
Agreement and (z) that is repaid with the proceeds of any Equity Issuances or
other Indebtedness incurred by the Company or any of its Subsidiaries), but
only to the extent that such prepaid amounts cannot by their terms be
reborrowed or redrawn and do not occur in connection with a refinancing of all
or any portion of such Indebtedness, (vi) extraordinary cash expenses paid, if
any, not included in Consolidated EBITDA, (vii) cash consideration paid for
Permitted Acquisitions during such Fiscal Year except to the extent financed
with the proceeds of Indebtedness or the issuance of securities and (viii)
Permitted Investments under paragraphs (vi) and (vii) of the definition thereof
made in cash during such Fiscal Year.

     “Consolidated Interest Expense” means, for any period, the gross interest
expense accrued or paid by the Company and its Subsidiaries during such period,
determined on a consolidated basis in accordance with GAAP. For purposes of
the foregoing, gross interest expense shall be determined exclusive of the
amortization or write-off of deferred financing costs and the amortization
thereof (including with respect to those items described in clause (b) of the
definition of Consolidated EBITDA), accrued deferred interest under the
Subordinated Debt, accrued pay-in-kind (“PIK”) dividends with respect to the
Preferred Stock to the extent the same are required to be treated as interest
in accordance with GAAP and after giving effect to any net payments made or
received by the Company and its Subsidiaries with respect to Hedge Agreements;
provided, that Consolidated Interest Expense shall be subject to the adjustment
set forth on Schedule 1.1(a).

     “Consolidated Net Income” means, for any period, net income or loss of the
Company and its Subsidiaries for such period (determined prior to giving effect
to any dividends paid or accrued in respect of the PIK Preferred Stock)
determined on a consolidated basis in accordance with GAAP; provided that there
shall be excluded (a) the income of any Person in which any other Person (other
than the Company or any of its Subsidiaries or any director holding qualifying
shares in compliance with applicable law) has a joint interest, to the extent
of such interest held by Persons other than the Company and its Subsidiaries in
such Person, (b) the income (or loss) of any Person accrued prior to the date
it becomes a Subsidiary or is merged into or consolidated with the Company or
any of its Subsidiaries or the date that Person’s assets are acquired by the
Company or any of its Subsidiaries, (c) any after tax gains or losses
attributable to sales of assets out of the ordinary course of business and (d)
(to the extent not included in clauses (a) through (c) above) any non-cash
extraordinary gains or non-cash extraordinary losses.

     “Consolidated Working Capital” means, as at any date of determination, the
excess of Consolidated Current Assets over Consolidated Current Liabilities.

     “Consolidated Working Capital Adjustment” means, for any period on a
consolidated basis, the amount (which may be a negative number) by which
Consolidated Working Capital as of the beginning of such period exceeds (or is
less than) Consolidated Working Capital as of the end of such period.

     “Contractual Obligation” means, as applied to any Person, any provision of
any indenture, mortgage, deed of trust, contract, undertaking or other
agreement or instrument to which such Person is a party or to which such Person
or any of its assets is subject.

     “Co-Syndication Agent” has the meaning assigned to that term in the
Preamble to this Agreement.

     “CSFB” has the meaning assigned to that term in the Preamble to this
Agreement.

-6-

 

     “Default” means a condition or event that, after notice or after any
applicable grace period has lapsed, or both, would constitute an Event of
Default.

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

     “Deposit Account” means a demand, time, savings, passbook or like account
with a bank, savings and loan association, credit union or like organization,
other than an account evidenced by a negotiable certificate of deposit.

     “Dollars” and the sign “$” mean the lawful money of the United States of
America.

     “Domestic Subsidiary” means any Subsidiary of the Company incorporated,
formed or organized under the laws of any jurisdiction within the United States
of America or any territory thereof.

     “Eligible Assignee” means (a) a Lender, (b) an Affiliate of a Lender, (c)
an Approved Fund, (d) a commercial bank organized under the laws of the United
States, or any State thereof, and having a combined capital and surplus of at
least $250,000,000; (e) a savings and loan association or savings bank
organized under the laws of the United States, or any State thereof, and having
a combined capital and surplus of at least $250,000,000; (f) a commercial bank
organized under the laws of any other country that is a member of the OECD or
has concluded special lending arrangements with the International Monetary Fund
associated with its General Arrangements to Borrow or a political subdivision
of any such country, and having a combined capital and surplus of at least
$250,000,000, so long as such bank is acting through a branch or agency located
in the United States; (g) a finance company, insurance company or other
financial institution or fund (whether a corporation, partnership, trust or
other entity) that is engaged in making, purchasing or otherwise holding
commercial loans in the ordinary course of its business and having a combined
capital and surplus of at least $250,000,000 or an Approved Fund thereof and
(h) any other Person (other than a natural person) approved by (i) the
Administrative Agent, (ii) in the case of an assignment of a Revolving Loan
Commitment, the Issuing Bank, and (iii) unless an Event of Default has occurred
and is continuing, the Company (each such approval not to be unreasonably
withheld or delayed and such approval to be deemed to have been given if a
response is not received within five Business Days from the date on which
request for approval was received by the applicable Person); provided that
notwithstanding the foregoing, “Eligible Assignee” shall not include the
Company or any of the Company’s Affiliates or Subsidiaries.

     “Environmental Laws” means any and all applicable foreign, Federal, state,
local or municipal laws, rules, orders, regulations, statutes, ordinances,
codes, decrees, requirements of any Governmental Authority or other Requirement
of Law (including common law) regulating, relating to or imposing liability or
standards of conduct concerning protection of human health or the environment,
as now or may at any time be in effect during the term of this Agreement.

     “Equity Proceeds” means the cash proceeds (net of underwriting discounts
and commissions and other reasonable costs associated therewith) from the
issuance of any Capital Stock or other equity securities of, or the making of
any capital contribution to, the Company after the Closing Date.

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

     “Eurocurrency Reserve Requirements” means, for each Interest Period for
each Eurodollar Rate Loan, the highest reserve percentage applicable to any
Lender during such Interest Period under regulations issued from time to time
by the Board of Governors of the Federal Reserve System or any successor for
determining the maximum reserve requirement (including, without limitation, any
emergency, supplemental or other marginal reserve requirement), with respect to
liabilities or assets consisting of or including Eurocurrency liabilities
having a term equal to such Interest Period.

     “Eurodollar Base Rate” means the rate per annum determined by the
Administrative Agent at approximately 11:00 a.m. (London time) on the date
which is two (2) Business Days prior to the beginning of the relevant Interest
Period (as specified in the applicable Notice of Borrowing or Notice of
Conversion/Continuation) by reference to the British Bankers’ Association
Interest Settlement Rates for deposits in Dollars (as set forth by any service

-7-

 

selected by the Administrative Agent which has been nominated by the
British Bankers’ Association as an authorized information vendor for the
purpose of displaying such rates) for a period equal to such Interest Period;
provided that, to the extent that an interest rate is not ascertainable
pursuant to the foregoing provisions of this definition, the “Eurodollar Base
Rate” shall be the interest rate per annum determined by the Administrative
Agent to be the average of the rates per annum at which deposits in Dollars are
offered for such relevant Interest Period to major banks in the London
interbank market in London, England by the Reference Lenders at approximately
11:00 a.m. (London time) on the date which is two Business Days prior to the
beginning of such Interest Period. If either of the Reference Lenders shall be
unable or shall otherwise fail to supply such rates to the Administrative Agent
upon its request, the rate of interest shall be determined on the basis of the
quotations of the remaining Reference Lender.

     “Eurodollar Rate Loans” means Loans bearing interest at rates determined
by reference to the Reserve Adjusted Eurodollar Rate as provided in subsection
2.2A.

     “Event of Default” means each of the events set forth in Section 8
identified as such.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended from
time to time, and any successor statute.

     “Exchange Notes” means senior subordinated notes of the Company, as such
notes may be amended, modified or supplemented from time to time, issued in
exchange for the Subordinated Notes (including any accrued interest and fees
owing in respect thereof) and pursuant to an Indenture, in accordance with the
terms of the Senior Subordinated Purchase Agreement, and any senior
subordinated notes of the Company issued in exchange for such Exchange Notes.

     “Excluded Taxes” means, with respect to the Administrative Agent, any
Lender, the Issuing Bank, or any other recipient of any payment to be made by
or on account of any obligation of the Company 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 Lender Office is located, (b) any branch
profits taxes imposed by the United States of America or any similar tax
imposed by any other jurisdiction in which the Company is located and (c) in
the case of a Foreign Lender (other than an assignee pursuant to a request by
the Company under subsection 2.8B), 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 Lender 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 subsection 2.7E(v), except to the extent that such Foreign
Lender (or its assignor, if any) was entitled, at the time of designation of a
new Lender Office (or assignment), to receive additional amounts from the
Company with respect to such withholding tax pursuant to subsection 2.7E(i).

     “Existing Credit Facilities” has the meaning assigned to that term in the
Recitals to this Agreement.

     “Existing Lenders” means the Lenders party to the Existing Credit
Facilities.

     “Existing Letters of Credit” means those Letters of Credit outstanding on
the Closing Date and listed on Schedule 1.1(c).

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

     “First Priority” means, with respect to any Lien purported to be created
in any Collateral pursuant to any Collateral Document, that such Lien is the
most senior Lien (other than Permitted Liens and other Liens permitted

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pursuant to subsection 7.2A to the extent (except with respect to liens
securing the obligations under the Second Lien Credit Agreement) not perfected
by filing of any UCC financing statements) to which such Collateral is subject.

     “Fiscal Quarter” means a Fiscal Quarter of a Fiscal Year.

     “Fiscal Year” means the fiscal year of the Company and its Subsidiaries
ending on December 31 of each calendar year.

     “Fixed Charge Coverage Ratio” means, with respect to the Company and its
Subsidiaries on a consolidated basis for the twelve-month period ending on the
last day of any Fiscal Quarter, the ratio of (i) Consolidated EBTTDA for such
twelve-month period minus Consolidated Capital Expenditures for such
twelve-month period to (ii) the sum of Consolidated Interest Expense for such
twelve-month period plus Scheduled Funded Debt Payments for the applicable
period plus cash taxes based on the net income of the Company paid (net of any
refunds received) for such twelve-month period (excluding taxes in connection
with one time, nonrecurring or extraordinary gains).

     “Flood Hazard Property” means a Mortgaged Property located in an area
designated by the Federal Emergency Management Agency as having special flood
hazards.

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

     “Foreign Subsidiary,” means any Subsidiary of the Company that is not a
Domestic Subsidiary.

     “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.

     “Funded Debt” means, with respect to any Person, without duplication, (a)
all Indebtedness of such Person other than Indebtedness of the types referred
to in clause (e), (f), (g), (i), (j) and (1) of the definition of
“Indebtedness” set forth in this subsection 1.1; (b) all Funded Debt of others
of the type referred to in clause (a) above secured by (or for which the holder
of such Funded Debt has an existing right, contingent or otherwise, to be
secured by) any Lien on, or payable out of the proceeds of production from,
property owned or acquired by such Person, whether or not the obligations
secured thereby have been assumed; (c) all Guaranty Obligations of such Person
with respect to Funded Debt of the type referred to in clause (a) above of
another Person; and (d) Funded Debt of the type referred to in clause (a) above
of any partnership or unincorporated joint venture in which such Person is
legally obligated or has a reasonable expectation of being liable with respect
thereto.

     “Funding and Payment Office” means the office of the Administrative Agent
located at 11 Madison Avenue, New York, NY 11010 (or such office of the
Administrative Agent or any successor Administrative Agent specified by the
Administrative Agent or such successor Administrative Agent in a written notice
to the Loan Parties and the Lenders).

     “Funding Date” means the date of the funding of a Loan, which, in the case
of the Term Loans shall be the Closing Date.

     “GAAP” means, subject to the limitations on the application thereof set
forth in subsection 1.2, generally accepted accounting principles, as in effect
in the United States on the date of determination.

     “Governmental Authority” means the government of the United States of
America 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).

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     “Governmental Authorization” means any permit, license, authorization,
plan, directive, consent order or consent decree of or from any Governmental
Authority.

     “Granting Lender” has the meaning assigned to that term in subsection
10.1G.

     “Guarantor” means, individually, the Subsidiary Guarantors, or any other
guarantor of the Obligations, and “Guarantors” means, collectively, the
Subsidiary Guarantors and each other guarantor of the Obligations.

     “Guaranty” means, individually, the Subsidiary Guaranty or any other
guaranty of the Obligations, and “Guaranties” means, collectively, the
Subsidiary Guaranty and each other guaranty of the Obligations.

     “Guaranty Obligations” means, with respect to any Person, without
duplication, any obligations of such Person (other than endorsements in the
ordinary course of business of negotiable instruments for deposit or
collection) guaranteeing or intended to guarantee any Indebtedness of any other
Person in any manner, whether direct or indirect, and including without
limitation any obligation, whether or not contingent, (i) to purchase any such
Indebtedness or any property constituting security therefor, (ii) to advance or
provide funds or other support for the payment or purchase of any such
Indebtedness or to maintain working capital, solvency or other balance sheet
condition of such other Person (including without limitation keep well
agreements, maintenance agreements, comfort letters or similar agreements or
arrangements) for the benefit of any holder of Indebtedness of such other
Person, (iii) to lease or purchase Property, securities or services primarily
for the purpose of assuring the holder of such Indebtedness, or (iv) to
otherwise assure or hold harmless the holder of such Indebtedness against loss
in respect thereof. The amount of any Guaranty Obligation hereunder shall
(subject to any limitations set forth therein) be deemed to be an amount equal
to the outstanding principal amount (or maximum principal amount, if larger) of
the Indebtedness in respect of which such Guaranty Obligation is made.

     “Hedge Agreements” means all Interest Rate Agreements and all other swaps,
caps or collar agreements or similar arrangements entered into by the Company
or any of its Subsidiaries providing for protection against fluctuations in
currency exchange rates either generally or under specific contingencies.

     “Indebtedness” means, with respect to any Person, without duplication, (a)
all obligations of such Person for borrowed money, (b) all obligations of such
Person evidenced by bonds, debentures, notes or similar instruments, or upon
which interest payments are customarily made, whether or not representing
obligations for borrowed money (other than current accounts payable incurred in
the ordinary course of business and accrued expenses incurred in the ordinary
course of business), (c) all obligations of such Person under conditional sale
or other title retention agreements relating to property or assets purchased by
such Person (other than customary reservations or retention of title under
agreements with suppliers entered into in the ordinary course of business), (d)
all obligations of such Person issued or assumed as the deferred purchase price
of property or services purchased by such Person (other than trade debt
incurred in the ordinary course of business and due within six months of the
incurrence thereof) which would appear as liabilities on a balance sheet of
such Person, (e) all obligations of such Person under take or pay or similar
arrangements or under commodities agreements, (f) all Indebtedness of others
secured by (or for which the holder of such Indebtedness has an existing right,
contingent or otherwise, to be secured by) any Lien on, or payable out of the
proceeds of production from, Property owned or acquired by such Person, whether
or not the obligations secured thereby have been assumed, (g) all Guaranty
Obligations of such Person with respect to Indebtedness of another Person, (h)
the principal portion of all obligations of such Person under Capital Leases,
which would appear as liabilities on a balance sheet of such Person in
conformity with GAAP, (i) all obligations of such Person under Hedge
Agreements, (j) the maximum amount of all letters of credit issued or bankers’
acceptance facilities created for the account of such Person and, without
duplication, all drafts drawn thereunder (to the extent unreimbursed), (k) all
preferred Capital Stock issued by such Person and which by the terms thereof
could be (at the request of the holders thereof or otherwise) subject to
mandatory sinking fund payments, redemption or other acceleration; provided,
however that the Preferred Stock shall be excluded hereunder as long as the
terms thereof do not provide for any mandatory sinking fund payment, redemption
or other acceleration requirements until after the payment in full in cash of
the Obligations and all other obligations under the Loan Documents (other than
contingent indemnification obligations), (1) the principal balance outstanding
under any synthetic lease, tax retention operating lease, off-balance sheet
loan or similar off-balance sheet financing product, and (m) the Indebtedness
of any partnership or unincorporated joint venture in which such Person is a
general partner or a joint venturer solely to the extent

-10-

 

that such Indebtedness constitutes the recourse obligations of such Person
in its capacity as general partner or joint venturer.

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

     “Indemnitee” has the meaning assigned to that term in subsection 10.2B.

     “Indenture” means (a) if the Subordinated Notes and/or Exchange Notes are
outstanding, the Senior Subordinated Purchase Agreement, or (b) at such time as
the Subordinated Notes and/or Exchange Notes have been repaid or any Preferred
Stock has been redeemed or otherwise repurchased, in each case, in full or in
part with proceeds from a Take-Out Financing, any indenture or similar
agreement entered into or to be entered into by the Company as issuer or
borrower in connection therewith, as the same may be amended, modified or
supplemented from time to time (such indenture or agreement to provide for
market-based interest rates and otherwise to contain terms and conditions
reasonably satisfactory to the Administrative Agent, including, without
limitation, interest rate and subordination provisions in form and substance
substantially similar to the subordination provisions set forth in the Senior
Subordinated Purchase Agreement or the Exchange Indenture pursuant to which the
Exchange Notes are issued).

     “Initial Period” means the period commencing on and including the Closing
Date and ending on the earlier of the date on which CSFB notifies the Company
that it has concluded its primary syndication of the Loans and the Commitments
and the date that is one month following the Closing Date.

     “Insolvency” means, with respect to any Multiemployer Plan, the condition
that such Plan is insolvent within the meaning of such term as used in Section
4245 of ERISA.

     “Intellectual Property” has the meaning assigned to that term in
subsection 5.5C.

     “Intercreditor Agreement” means that certain Intercreditor Agreement dated
as of the Closing Date in substantially the form of Exhibit XIV entered into by
and between the Company, the Collateral Agent and CSFB, as Collateral Agent
under, and as defined in, the Second Lien Credit Agreement.

     “Interest Coverage Ratio” means, with respect to the Company and its
Subsidiaries on a consolidated basis for the twelve-month period ending on the
last day of any Fiscal Quarter, the ratio of (a) Consolidated EBITDA for such
twelve-month period to (b) Consolidated Interest Expense for such twelve-month
period.

     “Interest Payment Date” means:

          (i) with respect to any Base Rate Loan, the last Business Day in
each of March, June, September and December of each year, commencing on
June 30, 2004; and

          (ii) with respect to any Eurodollar Rate Loan, the last day of each
Interest Period applicable to such Loan; provided that in the case of
each Interest Period of longer than three months, “Interest Payment Date”
shall also include the date that is three months after the commencement
of such Interest Period.

     “Interest Period” has the meaning assigned to that term in subsection
2.2B.

     “Interest Rate Agreement” means any interest rate swap agreement, interest
rate cap agreement, interest rate collar agreement or other similar agreement
or arrangement designed to protect the Company or any of its Subsidiaries
against fluctuations in interest rates.

     “Interest Rate Determination Date” means each date for calculating the
Reserve Adjusted Eurodollar Rate, for purposes of determining the interest rate
in respect of an Interest Period. The Interest Rate Determination Date for
purposes of calculating the Reserve Adjusted Eurodollar Rate shall be the
second Business Day prior to the first day of the related Interest Period.

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     “Investment” means (i) any direct or indirect purchase or other
acquisition by the Company or any of its Subsidiaries of, or of a beneficial
interest in, stock or other Securities of any other Person, or (ii) any direct
or indirect loan, advance (other than advances to employees for moving,
entertainment and travel expenses, drawing accounts and similar expenditures in
the ordinary course of business) or capital contribution by the Company or any
of its Subsidiaries to any other Person, including all indebtedness and
accounts receivable acquired from that other Person that are not current assets
or did not arise from sales to that other Person in the ordinary course of
business; provided, however, that the term “Investment” shall not include (a)
current trade and customer accounts receivable for goods furnished or services
rendered in the ordinary course of business and payable in accordance with
customary trade terms, (b) advances and prepayments to suppliers for goods and
services in the ordinary course of business, (c) stock or other securities
acquired in connection with the satisfaction or enforcement of Indebtedness or
claims due or owing to the Company or any of its Subsidiaries or as security
for any such Indebtedness or claims, (d) Cash held in Deposit Accounts with
banks, trust companies and the Lenders and (e) shares in a mutual fund that
invests solely in Cash Equivalents. The amount of any Investment shall be the
original cost of such Investment plus the cost of all additions thereto minus
all cash dividends or distributions in respect thereof, without any adjustments
for increases or decreases in value, or write-ups, write-downs or write-offs
with respect to such Investment. Without limitation of the foregoing,
“Investments” shall include the incurring by any Person of Guaranty Obligations
in respect of the obligations of any other Person.

     “IP Collateral” has the meaning assigned to the term “Intellectual
Property Collateral” in the Security Agreement.

     “Issuing Bank” means, with respect to any (i) Letter of Credit issued on
and after the Closing Date, CSFB, in its capacity as an issuer of Letters of
Credit, and, any other Lender that that is commercial bank, reasonably
acceptable to the Company and the Administrative Agent, having a Letter of
Credit Subfacility Commitment; and (ii) with respect to any Existing Letter of
Credit, Wachovia Bank, National Association.

     “Joint Lead Arranger” has the meaning assigned to that term in the
Preamble to this Agreement.

     “LBI” has the meaning assigned to that term in the Preamble to this
Agreement.

     “LCPI” has the meaning assigned to that term in the Preamble to this
Agreement.

     “Leasehold Property” means any leasehold interest of any Loan Party as
lessee under any lease of real property.

     “Lender” and “Lenders” means the Persons identified as “Lenders” and
listed on the signature pages of this Agreement, together with their successors
and permitted assigns pursuant to subsection 10.1; and the term “Lenders” shall
include the Swing Line Lender unless the context otherwise requires; provided
further that the term “Lenders,” when used in the context of a particular
Commitment, shall mean the Lenders having that Commitment.

     “Lender Default” means (i) the refusal (which has not been retracted) of a
Lender to make available its portion of any Loans (including any Revolving
Loans made to pay Refunded Swing Line Loans or to reimburse drawings under
Letters of Credit) in accordance with subsection 2.1A or its portion of any
unreimbursed drawing or payment under a Letter of Credit in accordance with
subsection 3.3C or (ii) a Lender having notified the Company and/or the
Administrative Agent that it does not intend to comply with its obligations
under subsection 2.1 or subsections 3.1C, 3.3B or 3.3C as a result of any
takeover of such Lender by any regulatory authority or agency or otherwise.

     “Lender Office” means, as to any Lender, the office or offices of such
Lender specified in the Administrative Questionnaire completed by such Lender
and delivered to the Administrative Agent, and the office or offices of such
Lender that the Administrative Agent notifies the Company promptly but no later
than two days after the Closing Date, or such other office or offices as such
Lender may from time to time notify the Company and the Administrative Agent.

-12-

 

     “Letter of Credit” or “Letters of Credit” means commercial Letters of
Credit and standby Letters of Credit issued or to be issued by the Issuing Bank
for the account of the Company or any Subsidiary Guarantor that is a Domestic
Subsidiary pursuant to subsection 3.1 for the purposes of (i) providing the
primary payment mechanism in connection with the purchase of any materials,
goods or services by the Company and its Subsidiaries in the ordinary course of
business, (ii) supporting the obligations of the Company and its Subsidiaries
incurred or arising in the ordinary course of business and (iii) to support the
workers compensation obligations of the Company and its Subsidiaries.

     “Letter of Credit Issuing Office” means, as to any Issuing Bank, the
address from time to time specified in writing by such Issuing Bank to the
Company and the Administrative Agent as its letter of credit issuing office.
The initial “Letter of Credit Issuing Office” for CSFB shall be Eleven Madison
Avenue, New York, New York 10010.

     “Letter of Credit Subfacility Commitment” means, with respect to any
Issuing Bank at any time, the commitment of such Issuing Bank to issue Letters
of Credit pursuant to subsection 3.1A; provided that the aggregate amount of
the Letter of Credit Subfacility Commitments shall in no event exceed
$25,000,000; provided, further, that any reduction in the Revolving Loan
Commitments to a level that is below the then aggregate amount of the Letter of
Credit Subfacility Commitments shall result in the reduction of the aggregate
Letter of Credit Subfacility Commitments pro rata to each Issuing Bank to an
amount equal to such Revolving Loan Commitments.

     “Letter of Credit Usage” means, as at any date of determination, the sum
of (i) the maximum aggregate amount which is or at any time thereafter may
become available for drawing under all Letters of Credit then outstanding plus
(ii) the aggregate amount of all drawings under Letters of Credit honored by
the Issuing Bank and not theretofore reimbursed by the Company (including any
such reimbursement out of the proceeds of Revolving Loans pursuant to
subsection 3.3B).

     “Leverage Ratio” means, with respect to the Company and its Subsidiaries
on a consolidated basis for the twelve month period ending on the last day of
any Fiscal Quarter, the ratio of (a) Funded Debt of the Company and its
Subsidiaries on a consolidated basis on the last day of such period to (b)
Consolidated EBITDA for such twelve month period.

     “Lien” means any lien, mortgage, pledge, assignment, security interest,
fixed or floating charge or encumbrance of any kind (including any conditional
sale or other title retention agreement, any lease in the nature thereof, and
any agreement to give any security interest) and any option, trust or deposit
or other preferential arrangement having the practical effect of any of the
foregoing.

     “Loan” or “Loans” means, as the context requires, one or more of the Term
Loans, Revolving Loans, Swing Line Loans or any combination thereof.

     “Loan Documents,” means this Agreement, the Notes, the Letters of Credit
(and any applications for, or reimbursement agreements or other documents or
certificates executed by the Company in favor of the Issuing Bank relating to,
the Letters of Credit), the Guaranties and the Collateral Documents or other
documents evidencing Obligations.

     “Loan Parties” means the Company and each Subsidiary Guarantor.

     “Management Shareholders” means, collectively, the individuals listed on
Schedule 1.1(b) hereto as the same may be updated from time to time, together
with any Persons wholly owned by any such individuals or a Management Trust.

     “Management Trust” means any trust or trusts created to own or hold shares
of Capital Stock of the Company for, or for the benefit of, individuals who are
Management Shareholders.

     “Margin Stock” has the meaning assigned to that term in Regulation U of
the Board of Governors of the Federal Reserve System as in effect from time to
time.

-13-

 

     “Material Adverse Effect” means a material adverse effect on (i) the
business, assets, operations, condition (financial or otherwise) or prospects
of the Company and its Subsidiaries, taken as a whole, (ii) the ability of any
Loan Party to perform the Obligations, or (iii) the validity or enforceability
of any Loan Document.

     “Material Contracts” means any or all of the following, as the context may
require: (i) any Security issued by the Company or any of its Subsidiaries,
(ii) any material indenture, mortgage, deed of trust, contract, undertaking,
agreement or other instrument to which the Company or any of its Subsidiaries
is a party or by which it or any of its properties is bound or to which it or
any of its properties is subject and (iii) any other document, agreement or
instrument that is material to the operation or business of the Company and its
Subsidiaries, taken as a whole.

     “Materials of Environmental Concern” means any gasoline or petroleum
(including crude oil or any fraction thereof) or petroleum products or any
hazardous or toxic substances, materials, wastes or words of similar import,
defined or regulated as such in or under any Environmental Law, including,
without limitation, asbestos, polychlorinated biphenyls and urea-formaldehyde
insulation.

     “Maximum Amount” has the meaning assigned to that term in subsection
10.13.

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

     “Mortgage” means (i) a security instrument (whether designated as a deed
of trust or a mortgage or by any similar document) executed and delivered by
any Loan Party, substantially in the form of Exhibit XIII or in such other form
as may be approved by the Collateral Agent in its sole discretion, in each case
with such changes thereto as may be recommended by the Collateral Agent’s local
counsel based on local laws or customary local mortgage or deed of trust
practices with respect to each Mortgaged Property, or (ii) at the Collateral
Agent’s option, in the case of an Additional Mortgaged Property, an amendment
to an existing Mortgage, in form satisfactory to the Collateral Agent, adding
such Additional Mortgaged Property to the assets encumbered by such existing
Mortgage, in either case as such security instrument or amendment may
heretofore have been or hereafter may be amended, supplemented or otherwise
modified from time to time. “Mortgages” means all such instruments, including
the Closing Date Mortgages and any Additional Mortgages, collectively.

     “Mortgaged Property” means a Closing Date Mortgaged Property or an
Additional Mortgaged Property.

     “Multiemployer Plan,” means a Plan which is a multiemployer plan as
defined in Section 4001(a)(3) of ERISA.

     “Net Cash Proceeds” means, with respect to any Asset Disposition, Cash
Proceeds of such Asset Disposition net of bona fide direct costs of sale
including, without limitation, (i) income taxes reasonably estimated to be
actually payable as a result of such Asset Disposition within two years of the
date of receipt of such Cash Proceeds, (ii) transfer, sales, use and other
taxes payable in connection with such Asset Disposition, (iii) payment of the
outstanding principal amount of, premium or penalty, if any, and interest on
any Indebtedness (other than the Loans and any Indebtedness under the Second
Lien Credit Agreement) that is secured by a Lien on the stock or assets in
question and that is required to be repaid under the terms thereof as a result
of such Asset Disposition, (iv) brokers’ and financial advisors’ commissions
and reasonable fees and expenses of counsel and other advisors in connection
with such Asset Disposition, (v) reasonable reserves against indemnities or
other obligations (so long as such indemnity or other obligations are
outstanding) in respect of post-closing and purchase price adjustments
(including adjustments related to the performance or results of any divested or
acquired business) in connection with the acquisition or disposition of assets
permitted hereunder and (vi) reasonable relocation costs incurred in connection
with such Asset Disposition or as are otherwise reasonably estimated by the
Company in good faith and on the basis of reasonable assumptions to be realized
within twelve months of the date of consummation of such Asset Disposition, so
long as such costs are set forth in an Officer’s Certificate delivered by the
Company and reasonably acceptable to the Administrative Agent.

     “Net Recovery Event Proceeds” means the cash proceeds received by the
Company or any of its Subsidiaries from any Recovery Event minus (a) any actual
and reasonable costs and expenses incurred by the Company or any of its
Subsidiaries in connection with the adjustment or settlement of any claims of
the Company or such Sub-

-14-

 

sidiary in respect thereof, including, without limitation, reasonable
legal fees and expenses, and (b) any bona fide direct costs incurred in
connection with any sale of any assets, including income taxes payable as a
result of any gain recognized in connection therewith.

     “Non-Consenting Lender” has the meaning assigned to that term in
subsection 10.5B.

     “Notes” means one or more of the Term Notes, Revolving Notes, Swing Line
Notes or any combination thereof.

     “Notice of Borrowing” means a notice in the form of Exhibit I delivered by
the Company to the Administrative Agent pursuant to subsection 2.1B with
respect to a proposed borrowing.

     “Notice of Conversion/Continuation” means a notice substantially in the
form of Exhibit II delivered by the Company to the Administrative Agent
pursuant to subsection 2.2D with respect to a proposed conversion or
continuation of the applicable basis for determining the interest rate with
respect to the Loans specified therein.

     “Notice of Issuance of Letter of Credit” means a notice in the form of
Exhibit III delivered by the Company to the Administrative Agent pursuant to
subsection 3.1B(i) with respect to the proposed issuance of a Letter of Credit.

     “Obligations” means all obligations of every nature of each Loan Party
from time to time owed to the Agents, the Lenders or any of them or their
respective Affiliates under the Loan Documents or Hedge Agreements, whether for
principal, interest or payments for early termination of Interest Rate
Agreements, fees, expenses, indemnification or otherwise.

     “Officer’s Certificate” means, with respect to any Person, a certificate
executed on behalf of such Person (x) if such Person is a partnership or
limited liability company, by its chairman of the Board (if an officer) or
chief executive officer or by the chief financial officer of its general
partner or managing member or other Person authorized to do so by its
Organizational Documents, (y) if such Person is a corporation, on behalf of
such corporation by its chairman of the board (if an officer) or chief
executive officer or its chief financial officer or vice president, and (z) if
such person is the Company or a Subsidiary of the Company, a Responsible
Officer.

     “Organizational Authorizations” means, with respect to any Person,
resolutions of its Board of Directors, general partners or members of such
Person, and such other Persons, groups or committees (including, without
limitation, managers and managing committees), if any, required by the
Organizational Certificate or Organization Documents of such Person to
authorize or approve the taking of any action or the entering into of any
transaction.

     “Organizational Certificate” means, with respect to any Person, the
certificate or articles of incorporation, partnership or limited liability
company or any other similar or equivalent organizational, charter or
constitutional certificate or document filed with the applicable Governmental
Authority in the jurisdiction of its incorporation, organization or formation,
which, if such Person is a partnership or limited liability company, shall
include such certificates, articles or other certificates or documents in
respect of each partner or member of such Person.

     “Organizational Documents” means, with respect to any Person, the by-laws,
partnership agreement, limited liability company agreement, operating
agreement, management agreement or other similar or equivalent organizational,
charter or constitutional agreement or arrangement, which, if such Person is a
partnership or limited liability company, shall include such by-laws,
agreements or arrangements in respect of each partner or member of such Person.

     “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 any other Loan Document or from the execution,
delivery or enforcement of, or otherwise with respect to, this Agreement or any
other Loan Document.

     “Participant” has the meaning assigned to that term in subsection 10.1D.

-15-

 

     “PBGC” means the Pension Benefit Guaranty Corporation established pursuant
to Subtitle A of Title IV of ERISA (or any successor thereto).

     “Permitted Acquisitions” means any acquisition permitted pursuant to
subsection 7.7(ii).

     “Permitted Holders” means collectively, (a) (i) CIBC Inc., (ii) Caravelle
Investment Fund, L.L.C., (iii) Albion Alliance Mezzanine Fund, L.P., (iv)
Albion Alliance Mezzanine Fund II, L.P., (v) Trimaran Fund II, L.L.C., (vi)
Transportation Investment Partners, L.L.C., (vii) any Affiliate of any Person
named in clauses (a)(i) through (a)(vi) (collectively, the “Institutional
Investors”) and (vii) with respect to any Institutional Investor, any person
managed by such Institutional Investor or any of its Affiliates (other than
their other portfolio companies), and (b) the Management Shareholders.

     “Permitted Investments” means:

          (i) Investments in cash and Cash Equivalents;

          (ii) receivables owing to the Company or any of its Subsidiaries or
any receivables and advances to suppliers, in each case if created,
acquired or made in the ordinary course of business and payable or
dischargeable in accordance with customary trade terms;

          (iii) Investments in and loans to any Loan Parties;

          (iv) loans and advances to officers, directors, employees and
Affiliates in an aggregate amount not to exceed $2,000,000 at any time
outstanding;

          (v) Investments (including debt obligations) received in connection
with the bankruptcy or reorganization of suppliers and customers and in
settlement of delinquent obligations of, and other disputes with,
customers and suppliers arising in the ordinary course of business;

          (vi) Investments, acquisitions or transactions permitted under
subsection 7.7(ii);

          (vii) additional Investments, provided that such Investments made
pursuant to this clause (vii) shall not exceed an aggregate amount of
$5,000,000 at any time outstanding;

          (viii) Investments existing on the Closing Date and set forth on
Schedule 7.3;

          (ix) Investments by the Company or any Subsidiary in Hedge
Agreements permitted under subsection 7.1(vi);

          (x) Investments consisting of intercompany Indebtedness permitted
under subsection 7.1(v); and

          (xi) expenditures permitted under subsection 7.6D.

     “Permitted Liens” means:

          (i) Liens created by or otherwise existing, under or in connection
with this Agreement or the other Loan Documents in favor of the
Collateral Agent on behalf of the Lenders or any other document
evidencing the Obligations in favor of the Collateral Agent or any
Lender,

          (ii) Liens securing Indebtedness (and refinancings thereof)
permitted under subsection 7.1(iv);

          (iii) Liens for taxes, assessments, charges or other governmental
levies not yet due or as to which the period of grace (not to exceed 60
days), if any, related thereto has not expired or which are over-

-16-

 

due but are being contested in good faith by appropriate
proceedings, provided that adequate reserves with respect thereto are
maintained on the books of the Company or its Subsidiaries, as the case
may be, in conformity with GAAP (or, in the case of Subsidiaries with
significant operations outside of the United States of America, generally
accepted accounting principles in effect from time to time in their
respective jurisdictions of incorporation);

          (iv) Liens in respect of any property of any Subsidiary imposed by
Applicable Law, which do not secure Indebtedness for borrowed money, such
as carriers’, warehousemen’s, mechanics’, bankers’ (and rights of
set-off), materialmen’s, repairmen’s, workmen’s, supplier’s, landlord’s
or other like Liens arising in the ordinary course of business which are
not overdue for a period of more than 60 days or which are overdue but
are being contested in good faith by appropriate proceedings;

          (v) pledges or deposits in connection with workers’ compensation,
unemployment insurance and other social security legislation and deposits
securing liability to insurance carriers under insurance or
self-insurance arrangements;

          (vi) deposits to secure the performance of bids, trade contracts
(other than for borrowed money), leases, statutory obligations, surety
and appeal bonds, performance bonds and other obligations of a like
nature incurred in the ordinary course of business;

          (vii) Liens arising out of the conditional sale, title retention or
consignment in the ordinary course of business;

          (viii) Liens existing on the Closing Date and set forth on Schedule
7.2; provided that (a) no such Lien shall at any time be extended to
cover property or assets other than the property or assets subject
thereto on the Closing Date and (b) the principal amount of the
Indebtedness secured by such Liens shall not be extended, renewed,
refunded or refinanced except pursuant to subsection 7.1(ii);

          (ix) Liens on property of a Person existing at the time such Person
is acquired, merged into or consolidated with the Company or any
Subsidiary of the Company so long as such Liens were not created in
contemplation of such acquisition, merger or consolidation;

          (x) Liens arising in connection with any money judgment, writ or
warrant of attachment or similar process that does not result in an Event
of Default pursuant to subsection 8.8;

          (xi) other Liens securing Indebtedness or other obligations
outstanding in an aggregate principal amount not to exceed $3,500,000;

          (xii) Liens securing Indebtedness incurred pursuant to subsection
7.1(ix), subject to the Intercreditor Agreement;

          (xiii) Liens securing Indebtedness incurred pursuant to subsection
7.1(x);

          (xiv) purported Liens evidenced by the filing of precautionary UCC
financing statements relating solely to operating leases of personal
property entered into in the ordinary course of business;

          (xv) licenses of patents, trademarks and other intellectual property
rights granted by the Company or any of its Subsidiaries in the ordinary
course of business and not interfering in any respect with the ordinary
conduct of the business of the Company or such Subsidiary;

          (xvi) with respect to the Mortgaged Properties, such exceptions to
title as are set forth in the title insurance policy or the title
commitment delivered to the Collateral Agent with respect thereto;

          (xvii) leases or subleases to third persons in the ordinary course
of business that do not interfere in any material respect with the
business of the Company and its Subsidiaries taken as a whole and Liens

-17-

 

          incurred by Lessors or sublessors or on their interests in any
leases now in existence or hereafter entered into;

          (xviii) easements, rights-of-way, restrictions (including zoning
restrictions), covenants, licenses, encroachments, protrusions and other
similar charges or encumbrances, and minor title deficiencies on or with
respect to any Real Property Asset, in each case whether now or hereafter
in existence (including all matters shown on Schedule B to any Closing
Date Mortgage Policy and any Additional Mortgage Policy), not (i)
securing Indebtedness, (ii) individually or in the aggregate materially
impairing the value or marketability of such Real Property Asset, or
(iii) individually or in the aggregate materially interfering with the
ordinary conduct of the business of any Loan Party at any such Real
Property Asset; and

          (xix) any extension, renewal or replacement (or successive
extensions, renewals or replacements), in whole or in part, of any Lien
referred to in the foregoing clauses; provided that such extension,
renewal or replacement Lien shall be limited to all or a part of the
property which secured the Lien so extended, renewed or replaced (plus
improvements on such property).

     “Person” means any natural person, corporation, limited liability company,
trust, joint venture, association, company, partnership, governmental authority
or other entity.

     “PIK” has the meaning assigned to that term in the definition of
“Consolidated Interest Expense.”

     “Plan” means, at any particular time, any employee benefit plan which is
covered by Title IV of ERISA and in respect of which the Company or a Commonly
Controlled Entity is (or, if such plan were terminated at such time, would
under Section 4069 of ERISA be deemed to be) an “employer” as defined in
Section 3(5) of ERISA.

     “Pledge Agreement” means the Pledge Agreement dated as of the Closing Date
and entered into by and among the Company, the Subsidiary Guarantors and the
Collateral Agent, or executed and delivered pursuant to subsection 6.9,
substantially in the form of Exhibit VI, as such Pledge Agreement may hereafter
be amended, restated, supplemented or otherwise modified from time to time.

     “Pledging Parent” has the meaning assigned to that term in subsection 6.9.

     “Preferred Stock” means the Series A Preferred Stock, the Series B
Preferred Stock, the Series C Preferred Stock, the Series D Preferred Stock and
the Series E Preferred Stock.

     “Prime Rate” means the rate of interest per annum announced from time to
time by CSFB as its prime commercial lending rate in effect at its principal
office in New York City. The Prime Rate is a reference rate and does not
necessarily represent the lowest or best rate actually charged to any customer.
CSFB or any other Lender may make commercial loans or other loans at rates of
interest at, above or below the Prime Rate.

     “Principal Office” means, for each of Administrative Agent, Swing Line
Lender and each Issuing Bank, such Person’s “Principal Office” as such Person
may from time to time denigrate in writing to Company, Administrative Agent and
each Lender.

     “Proceedings” has the meaning assigned to that term in subsection 6.1(x).

     “Pro Forma Basis” means, with respect to compliance with any test or
covenant hereunder, compliance with such covenant or test after giving effect
to any proposed acquisition, distribution or other action which requires
compliance on a pro forma basis (including pro forma adjustments arising out of
events which are directly attributable to a specific transaction, are factually
supportable and are expected to have a continuing impact, in each case
determined on a basis consistent with Article 11 of Regulation S-X of the
Securities Act and as interpreted by the staff of the Securities and Exchange
Commission, which pro forma adjustments shall be certified by the chief
financial officer of the Company), using, for purposes of determining such
compliance, the historical financial statements of all entities or assets so
acquired or to be acquired and the consolidated financial statements of the
Company and its Subsidiaries which shall be reformulated (a) as if such
acquisition, distribution or other action, and any acquisi-

-18-

 

tions which have been consummated during the period, and any Indebtedness
or other liabilities incurred in connection with any such acquisition,
distribution or other action had been consummated at the beginning of such
period (and assuming that such Indebtedness bears interest during any portion
of the applicable measurement period prior to the relevant acquisition at the
weighted average of the interest rates applicable to outstanding Loans during
such period), and (b) otherwise in conformity with such procedures as may be
agreed upon between the Administrative Agent and the Company, all such
calculations to be in form and substance reasonably satisfactory to the
Administrative Agent.

     “Pro Forma EBITDA” means the Consolidated EBITDA prepared on a Pro Forma
Basis giving effect to (i) the Transactions as if they had occurred at the
beginning of the four Fiscal Quarters ended December 31, 2003 and (ii) other
adjustments listed on Schedule 1.1(a) relating to audit fees, management fees
and non-cash write-offs of fixed assets in an aggregate amount not to exceed
$1,500,000.

     “Pro Rata Share” means (i) with respect to all payments, computations and
other matters relating to the Term Loans of any Lender, the percentage obtained
by dividing (x) the Term Loan Exposure of that Lender by (y) the aggregate Term
Loan Exposure of all the Lenders; (ii) with respect to all payments,
computations and other matters relating to the Revolving Loan Commitment or the
Revolving Loans of any Lender or any Letters of Credit issued by any Lender or
any participations purchased by any Lender therein or in any Swing Line Loans,
the percentage obtained by dividing (x) the Revolving Loan Exposure of that
Lender by (y) the aggregate Revolving Loan Exposure of all the Lenders; and
(iii) for all other purposes with respect to each Lender, the percentage
obtained by dividing (x) the sum of the Term Loan Exposure of that Lender and
the Revolving Loan Exposure of that Lender by (y) the sum of the aggregate Term
Loan Exposure of all the Lenders and the aggregate Revolving Loan Exposure of
all the Lenders; in any such case as the applicable percentage may be adjusted
by assignments permitted pursuant to subsection 10.1. The initial Pro Rata
Share of each Lender for purposes of each of clauses (i) and (ii) of the
preceding sentence is set forth opposite the name of that Lender in Schedules
2.1A(i) and 2.1A(ii).

     “Proceedings” has the meaning assigned to that term in subsection 6.1(x).

     “Projections” has the meaning assigned to that term in subsection 5.3B.

     “Properties” has the meaning assigned to that term in subsection 5.13(a).

     “PTO” means the United States Patent and Trademark Office.

     “Real Property Asset” means, at any time of determination, any interest
(fee, leasehold or otherwise) then owned by any Loan Party in any real
property.

     “Recovery Event” means the receipt by the Company or any of its
Subsidiaries of any cash insurance proceeds or condemnation award payable by
reason of theft, loss, physical destruction or damage, loss of title, taking or
similar event with respect to any of their respective property or assets.

     “Reference Lenders” means (i) CSFB and (ii) another Lender determined by
the Administrative Agent with the consent of the Company.

     “Refunded Swing Line Loans” has the meaning assigned to that term in
subsection 2.1A(iii).

     “Register” has the meaning assigned to that term in subsection 10.1 C.

     “Reimbursement Date” has the meaning assigned to that term in subsection
3.3B.

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

     “Reorganization” means, with respect to any Multiemployer Plan, the
condition that such Plan is in reorganization within the meaning of such term
as used in Section 4241 of ERISA.

-19-

 

     “Reportable Event” means any of the events set forth in Section 4043(c) of
ERISA, other than those events as to which the thirty-day notice period is
waived under PBGC Reg. §4043.

     “Requirement of Law” means, as to any Person, each law, treaty, rule or
regulation or determination of an arbitrator or a court or other Governmental
Authority, in each case applicable to or binding upon such Person or any of its
property or to which such Person or any of its property is subject.

     “Requisite Class Lenders” means, at any time of determination (i) for the
Class of the Lenders having Term Loan Exposure, Lenders having or holding more
than 50% of the aggregate Term Loan Exposure of all Lenders and (ii) for the
Class of Lenders having Revolving Loan Exposure, Lenders having or holding more
than 50% of the aggregate Revolving Loan Exposure of all Lenders.

     “Requisite Lenders” means Lenders having or holding more than 50% of the
sum of the aggregate Term Loan Exposure of all Lenders and the aggregate
Revolving Loan Exposure of all Lenders.

     “Reserve Adjusted Eurodollar Rate” means, with respect to each day during
each Interest Period pertaining to a Eurodollar Rate Loan, a rate per annum
determined for such day in accordance with the following formula:

	Eurodollar Base Rate
	

	1.00 - Eurocurrency Reserve Requirements

     “Responsible Officer” means the chief executive officer, president,
executive vice president, general counsel or chief financial officer of the
Company or the applicable Subsidiary, but in any event, with respect to
financial matters, the chief financial officer, treasurer or controller of the
Company or the applicable Subsidiary.

     “Restricted Payment” means (i) any dividend or other distribution, direct
or indirect, on account of any shares of any class of stock (or of any other
Capital Stock) of the Company or any of its Subsidiaries now or hereafter
outstanding, except a dividend payable solely in shares of that class of stock
to the holders of that class, (ii) any redemption, retirement, sinking fund or
similar payment, purchase or other acquisition for value, direct or indirect,
of any shares of any class of stock (or of any other Capital Stock) of the
Company or any of its Subsidiaries now or hereafter outstanding, (iii) any
payment made to retire, or to obtain the surrender of, any outstanding
warrants, options or other rights to acquire shares of any class of stock (or
of any other Capital Stock) of the Company or any of its Subsidiaries now or
hereafter outstanding, or (iv) any prepayment of principal of, premium, if any,
or interest on, or redemption, purchase, retirement, defeasance (including in
substance or legal defeasance), sinking fund or similar payment with respect
to, any Subordinated Debt (other than the issuance of the Exchange Notes in
exchange for the Subordinated Notes (including accrued interest and fees
related thereto)).

     “Revolving Loan Commitment” means the commitment of a Lender to make
Revolving Loans to the Company pursuant to subsection 2.1A(ii).

     “Revolving Loan Commitment Termination Date” means the earliest of (1) the
fifth anniversary of the Closing Date, (ii) the date the Revolving Loan
Commitments are permanently reduced to zero pursuant to subsection 2.4B(ii) or
2.4C(i), and (iii) the date of termination of the Revolving Loan Commitments
pursuant to Section 8.

     “Revolving Loan Exposure” means, with respect to any Lender as of any date
of determination (i) prior to the termination of the Revolving Loan
Commitments, that Lender’s Revolving Loan Commitment and (ii) after the
termination of the Revolving Loan Commitments, the sum of (a) the aggregate
outstanding principal amount of the Revolving Loans of that Lender plus (b) in
the event that Lender is an Issuing Bank, the aggregate Letter of Credit Usage
in respect of all Letters of Credit issued by that Lender (net of any
participations purchased by other Lenders in such Letters of Credit) plus (c)
the aggregate amount of all participations purchased by that Lender in any
outstanding Letters of Credit or any unreimbursed drawings under any Letters of
Credit plus (d) the aggregate amount of all participation purchased by that
Lender in any outstanding Swing Line Loans plus (e) in the case of Swing Line
Lender, the sum of the aggregate outstanding principal amount of all Swing Line
Loans (in each case net of any participations therein purchased by other
Lenders).

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     “Revolving Loans” means the Loans made by the Lenders to the Company
pursuant to subsection 2.1A(ii).

     “Revolving Notes” means (i) the promissory notes of the Company issued
pursuant to subsection 2.1D(ii) and (ii) any promissory notes issued by the
Company in connection with assignments of the Revolving Loan Commitment and
Revolving Loans of any Lender, in each case substantially in the form of
Exhibit IV-B, as they may be amended, restated, supplemented or otherwise
modified from time to time.

     “S&P” means Standard & Poor’s Ratings Group, a division of The McGraw Hill
Corporation, or any successor thereto.

     “Scheduled Funded Debt Payment” means, as of any date of determination for
the Company and its Subsidiaries, the sum of all scheduled payments of
principal on Funded Debt for the applicable period ending on the date of
determination (including the principal component of payment due on Capital
Leases for the applicable period ending on the date of determination);
provided, that Scheduled Funded Debt Payments shall not include any such
payments made prior to the Closing Date.

     “Second Lien Credit Agreement” means the Second Lien Credit Agreement
dated as of the Closing Date among the Company as borrower, CSFB as
administrative agent and collateral agent and the other agents and lenders
party thereto, as it may be amended, restated, supplemented, or otherwise
modified from time to time in accordance with the provisions of subsection
7.13A hereof.

     “Secured Parties” has the meaning assigned to that term in the Collateral
Documents.

     “Securities” means any stock, shares, partnership interests, voting trust
certificates, certificates of interest or participation in any profit-sharing
agreement or arrangement, options, warrants, bonds, debentures, notes, or other
evidences of indebtedness, secured or unsecured, convertible, subordinated or
otherwise, or in general any instruments commonly known as “securities” or any
certificates of interest, shares or participation in temporary or interim
certificates for the purchase or acquisition of, or any right to subscribe to,
purchase or acquire, any of the foregoing.

     “Securities Act” means the Securities Act of 1933, as amended from time to
time, and any successor statute.

     “Security Agreement” means the Security Agreement entered into by and
among the Company, the Subsidiary Guarantors and the Collateral Agent dated as
of the Closing Date, substantially in the form of Exhibit VII, as such Security
Agreement may hereafter be amended, restated, supplemented or otherwise
modified from time to time.

     “Senior Secured Debt” means, as at any date of determination, Funded Debt
less the Subordinated Debt of the Company or its Subsidiaries.

     “Senior Subordinated Purchase Agreement” means that certain Purchase
Agreement dated as of March 9, 2000 among the Company, the guarantors named
therein, Transportation Acquisition I Corp., CIBC Inc. and Wachovia Capital
Investments, Inc. (formerly First Union Investors, Inc.) and the other
purchasers party thereto including any indenture entered into pursuant to such
senior subordinated purchase agreement in connection with the issuance of
Exchange Notes, as amended, modified or supplemented from time to time in
accordance with its terms.

     “Series A
Preferred Stock” means the 141⁄2% Senior Redeemable Preferred
Stock of the Company, par value $0.01 per share, originally issued on March 9,
2000.

     “Series B Preferred Stock” means any preferred stock issued in exchange
for shares of Series A Preferred Stock in accordance with the Certificate of
Designation with respect to such Series A Preferred Stock.

     “Series C Preferred Stock” means the Series C Preferred Stock of the
Company, par value $0.01 per share, issued on or before December 19, 2003.

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     “Series D Preferred Stock” means the Series D Preferred Stock of the
Company, par value $0.01 per share, issued on or before December 19, 2003.

     “Series E Preferred Stock” means the 25% Senior Redeemable Preferred Stock
of the Company, par value $0.01 per share, originally issued on December 19,
2003.

     “Single Employer Plan” means any Plan which is not a Multiemployer Plan.

     “Solvent” means, with respect to any Person, that as of the date of
determination both (i) (a) the then fair saleable value of the property of such
Person is (y) greater than the total amount of liabilities (including
contingent liabilities but excluding amounts payable under intercompany
promissory notes) of such Person and (z) not less than the amount that will be
required to pay the probable liabilities on such Person’s then existing debts
as they become absolute and matured considering all financing alternatives and
potential asset sales reasonably available to such Person; (b) such Person’s
capital is not unreasonably small in relation to its business or any
contemplated or undertaken transaction; and (c) such Person does not intend to
incur, or believe (nor should it reasonably believe) that it will incur, debts
beyond its ability to pay such debts as they become due; and (ii) such Person
is “solvent” within the meaning given that term and similar terms under
applicable laws relating to fraudulent transfers and conveyances. For purposes
of this definition, the amount of any contingent liability at any time shall be
computed as the amount that, in light of all of the facts and circumstances
existing at such time, represents the amount that can reasonably be expected to
become an actual or matured liability.

     “Specified Sales” means (a) the sale, transfer, lease or other disposition
of inventory, products and materials in the ordinary course of business and (b)
the sale, transfer or other disposition of Permitted Investments described in
clause (i) of the definition thereof.

     “SPV” has the meaning assigned to that term in subsection 10.1G.

     “Subordinated Debt” means (a) the Subordinated Notes and any Exchange
Notes and (b) any Take-Out Financing, including, in each such case, any
Guaranty Obligations of the Subsidiaries of the Company in respect of the
foregoing Indebtedness, pursuant to documentation containing maturities,
amortization schedules, covenants, defaults, remedies, subordination provisions
and other material terms in form and substance reasonably satisfactory to the
Administrative Agent.

     “Subordinated Debt Documents” means (a) the Senior Subordinated Purchase
Agreement, (b) the Indenture and (c) all other promissory notes, instruments,
agreements and other documents evidencing or governing the Subordinated Debt or
providing for any guaranty or other right in respect thereof.

     “Subordinated Notes” means notes of the Company outstanding on the Closing
Date and issued pursuant to the Senior Subordinated Purchase Agreement together
with any PIK notes and deferred notes issued thereunder.

     “Subsidiary” means, with respect to any Person, any corporation,
partnership, association, joint venture or other business entity of which more
than 50% of the total voting power of shares of stock or other ownership
interests entitled (without regard to the occurrence of any contingency) to
vote in the election of the Person or Persons (whether directors, managers,
trustees or other Persons performing similar functions) having the power to
direct or cause the direction of the management and policies thereof is at the
time owned or controlled, directly or indirectly, by that Person or one or more
of the other Subsidiaries of that Person or a combination thereof.

     “Subsidiary Guarantor” means any Domestic Subsidiary of the Company that
is a party to the Subsidiary Guaranty or any other Guaranty on the Closing Date
(which shall be each Domestic Subsidiary of the Company existing as of the
Closing Date) or at any time after the Closing Date pursuant to subsection 6.9.

     “Subsidiary Guaranty” means the Subsidiary Guaranty, substantially in the
form of Exhibit V, executed and delivered by the Subsidiary Guarantors on the
Closing Date, or executed and delivered by any additional Subsidiary Guarantor
from time to time thereafter pursuant to subsection 6.9, as such Subsidiary
Guaranty may hereafter

-22-

 

be amended, restated, supplemented or otherwise modified from time to
time, with the written consent of the Company.

     “Supplemental Collateral Agent” and “Supplemental Collateral Agents” shall
have the meaning assigned to these terms in subsection 9.1B.

     “Swing Line Lender” means CSFB, or any Person serving as a successor
Administrative Agent hereunder, in its capacity as Swing Line Lender hereunder.

     “Swing Line Loan Commitment” means the commitment of Swing Line Lender to
make Swing Line Loans to the Company pursuant to subsection 2.1A(iii).

     “Swing Line Loans” means the Loans made by the Swing Line Lender pursuant
to subsection 2.1 A(iii).

     “Swing Line Note” means (i) the promissory note of the Company issued
pursuant to subsection 2.1D(iii) and (ii) any promissory note issued by the
Company to any successor Swing Line Lender pursuant to the last sentence of
subsection 9.6B, in each case substantially in the form of Exhibit IV-C, as it
may be amended, restated, supplemented or otherwise modified from time to time.

     “Take-Out Financing” means unsecured senior subordinated or subordinated
debt notes or securities of the Company or any of its Subsidiaries issued
pursuant to an Indenture described in clause (b) of the definition thereof the
proceeds of which shall be used as provided in subsection 2.4B(iii)(b).

     “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.

     “Term Loan Commitment” means the commitment of a Lender to make a Term
Loan pursuant to subsection 2.1(A)(i) in an amount set forth on Schedule
2.1A(i).

     “Term Loan Exposure” means, with respect to any Lender, as of any date of
determination the outstanding principal amount of the Term Loan of that Lender.

     “Term Loan Maturity Date” means the earlier of (i) the fifth anniversary
of the Closing Date and (ii) the date that all Term Loans shall become due and
payable in full hereunder, whether by acceleration or otherwise.

     “Term Loans” means the Loans outstanding or made by the Lenders pursuant
to subsection 2.1A(i).

     “Term Notes” means (i) the promissory notes of the Company issued pursuant
to subsection 2.1D(i) and (ii) any promissory notes issued by the Company in
connection with assignments of the Term Loans of any Lender, in each case
substantially in the form of Exhibit IV-A, as they may be amended, restated,
supplemented or otherwise modified from time to time.

     “Title Company” means, collectively, one or more title insurance companies
reasonably satisfactory to the Administrative Agent.

     “Total Utilization of Revolving Loan Commitments” means, as at any date of
determination, the sum of (i) the aggregate principal amount of all outstanding
Revolving Loans (other than Revolving Loans made for the purpose of repaying
any Refunded Swing Line Loans or reimbursing the applicable Issuing Bank for
any amount drawn under any Letter of Credit but not yet so applied) plus (ii)
the aggregate principal amount of all outstanding Swing Line Loans plus (iii)
the Letter of Credit Usage.

     “Transaction Costs” means the fees, costs and expenses payable by the
Company and its Subsidiaries in connection with the Transactions and set forth
in the schedule delivered by the Company pursuant to subsection 4.1I,
including, without limitation, amounts payable to the Agents and the Lenders.

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     “Transaction Documents” means, collectively, (i) the Loan Documents; (ii)
any amendments made on or prior to the Closing Date to the Subordinated Debt
Documents and the documents evidencing the Preferred Stock; and (iii) all other
documents, instruments and agreements entered into or delivered by the Company
and/or any of its Subsidiaries in connection with the Transactions.

     “Transactions” means, collectively, (i) the redemption, repurchase or
retirement of up to $25,000,000 of Subordinated Notes on the Closing Date, (ii)
the repayment in full of the obligations owed to the Existing Lenders and the
termination of the Existing Credit Facilities, (iii) the consummation of the
transactions contemplated under the Second Lien Credit Agreement and (iv) any
other transactions contemplated in subsection 4.1 and all related transactions.

     “UCC” means the Uniform Commercial Code (or any similar or equivalent
legislation) as in effect in any applicable jurisdiction.

     “WCM” has the meaning assigned to that term in the Preamble to this
Agreement.

	1.2	 	Defined Terms; Accounting Terms; Utilization of GAAP for Purposes lof Calculations Under Agreement.

     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 (a) any definition of or reference to any agreement, instrument or
other document herein shall be construed as referring to such agreement,
instrument or other document as from time to time amended, supplemented or
otherwise modified (subject to any restrictions on such amendments, supplements
or modifications set forth herein), (b) any reference herein to any Person
shall be construed to include such Person’s successors and assigns, (c) the
words “herein,” “hereof’ and “hereunder,” and words of similar import, shall be
construed to refer to this Agreement in its entirety and not to any particular
provision hereof, (d) all references herein to subsections, Exhibits and
Schedules shall be construed to refer to subsections of, and Exhibits and
Schedules to, this Agreement and (e) the words “asset” and “property” shall be
construed to have the same meaning and effect and to refer to any and all
tangible and intangible assets and properties, including cash, securities,
accounts and contract rights.

     B. Except as otherwise expressly provided in this Agreement, (a) all
accounting terms not otherwise defined herein shall have the meanings assigned
to them in conformity with GAAP; and (b) financial statements and other
information required to be delivered by the Company to the Lenders pursuant to
clauses (i), (ii), (iii) and (xiii) of subsection 6.1 shall be prepared in
accordance with GAAP (except, with respect to interim financial statements,
normal year-end audit adjustments and the absence of explanatory footnotes) as
in effect at the time of such preparation (and delivered together with the
reconciliation statements provided for in subsection 6.1(v)). Calculations in
connection with the definitions, covenants and other provisions of this
Agreement shall utilize accounting principles and policies in conformity with
those used to prepare the most recently delivered financial statements of the
Company referred to in subsection 6.1(iii); provided, that if the Company
notifies the Administrative Agent that it wishes to amend any covenant in
subsection 7.6 to eliminate the effect of any change in GAAP on the operation
of such covenant (or if the Administrative Agent notifies the Company that
Requisite Lenders wish to amend subsection 7.6 for such purpose), then the
Company’s compliance with such covenant shall be determined on the basis of
GAAP in effect immediately before the relevant change in GAAP became effective,
until either such notice is withdrawn or such covenant is amended in a manner
satisfactory to the Company and Requisite Lenders.

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SECTION 2.

AMOUNTS AND TERMS OF COMMITMENTS AND LOANS

	2.1	 	Commitments; Loans.

     A. (i) Term Loan Commitments. Subject to the terms and conditions
hereof, each Lender with a Term Loan Commitment severally agrees to make, on
the Closing Date, a Term Loan to the Company in an amount equal to such
Lender’s Term Loan Commitment.

     The Company may make only one borrowing under the Term Loan Commitments,
which shall be on the Closing Date. Any amount borrowed under this subsection
2.1A(i) and subsequently repaid or prepaid may not be reborrowed. Subject to
subsections 2.4A and 2.4B, all amounts owed hereunder with respect to the Term
Loans shall be paid in full no later than the Term Loan Maturity Date. Each
Lender’s Term Loan Commitment shall terminate immediately and without further
action on the Closing Date after giving effect to the funding of such Lender’s
Term Loan Commitment on such date.

     (ii) Revolving Loans. Each Lender with a Revolving Loan Commitment
severally agrees, subject to the limitations set forth below with respect to
the maximum amount of Revolving Loans permitted to be outstanding from time to
time, to lend to the Company from time to time during the period after the
Closing Date to but excluding the Revolving Loan Commitment Termination Date an
aggregate amount not exceeding its Pro Rata Share of the aggregate amount of
the Revolving Loan Commitments, to be used for the purposes identified in
subsection 2.5B. The original amount of each Lender’s Revolving Loan
Commitment is set forth opposite its name on Schedule 2.1A(ii) and the
aggregate original amount of the Revolving Loan Commitments is $50,000,000;
provided that the Revolving Loan Commitments of the Lenders shall be adjusted
to give effect to any assignments of the Revolving Loan Commitments pursuant to
subsection 10.1B; provided, further that the amount of the Revolving Loan
Commitments shall be reduced from time to time by the amount of any reductions
thereto made pursuant to subsection 2.4B(ii) or 2.4C(i). Each Lender’s
Revolving Loan Commitment shall expire on the Revolving Loan Commitment
Termination Date and all Revolving Loans and all other amounts owed hereunder
with respect to the Revolving Loans and the Revolving Loan Commitments shall be
paid in full no later than that date. Amounts borrowed under this subsection
2.1A(ii) may be repaid and reborrowed, subject to the limitations and
conditions set forth herein, to but excluding the Revolving Loan Commitment
Termination Date.

     Notwithstanding anything contained herein to the contrary, in no event
shall the Total Utilization of Revolving Loan Commitments at any time exceed
the Revolving Loan Commitments then in effect.

     (iii) Swing Line Loans. The Swing Line Lender hereby agrees, subject to
the limitations set forth below with respect to the maximum aggregate amount of
all Swing Line Loans outstanding from time to time, to make a portion of the
Revolving Loan Commitments available to the Company from time to time during
the period after the Closing Date to but excluding the Revolving Loan
Commitment Termination Date by making Base Rate Loans as Swing Line Loans to
the Company in an aggregate amount not to exceed the amount of the Swing Line
Loan Commitment, to be used for the purposes identified in subsection 2.5B,
notwithstanding the fact that such Swing Line Loans, when aggregated with the
sum of the Swing Line Lender’s outstanding Revolving Loans and the Swing Line
Lender’s Pro Rata Share of the Letter of Credit Usage then in effect, may
exceed the Swing Line Lender’s Revolving Loan Commitment. The original amount
of the Swing Line Loan Commitment is $10,000,000; provided that the amounts of
the Swing Line Loan Commitment are subject to reduction as provided in clause
(b) of the next paragraph. The Swing Line Loan Commitment shall expire on the
Revolving Loan Commitment Termination Date and all Swing Line Loans and all
other amounts owed hereunder with respect to the Swing Line Loans shall be paid
in full no later than that date. Amounts borrowed under this subsection
2.1A(iii) may be repaid and reborrowed, subject to the limitations and
conditions set forth herein, to but excluding the Revolving Loan Commitment
Termination Date.

     Notwithstanding anything contained herein to the contrary, the Swing Line
Loans and the Swing Line Loan Commitment shall be subject to the following
limitations:

          (a) in no event shall the Total Utilization of Revolving Loan
Commitments at any time exceed the Revolving Loan Commitments then in
effect;

-25-

 

          (b) any reduction of the Revolving Loan Commitments made pursuant to
subsection 2.4B which reduces the aggregate Revolving Loan Commitments to
an amount less than the then current amount of the Swing Line Loan
Commitment shall result in an automatic corresponding reduction of the
Swing Line Loan Commitment such that the amount thereof equals the amount
of the Revolving Loan Commitments, as so reduced, without any further
action on the part of the Company, the Administrative Agent or the Swing
Line Lender; and

          (c) the Swing Line Lender shall have no obligation to make any Swing
Line Loans during any period when a Lender Default exists, unless the
Swing Line Lender has entered into arrangements reasonably satisfactory
to it and the Company to eliminate the Swing Line Lender’s risk with
respect to the Defaulting Lender, including by cash collateralizing such
Defaulting Lender’s Pro Rata Share of the Revolving Loans that may be
required to be made to refund the applicable Swing Line Loan as
contemplated by the immediately following paragraph.

     With respect to any Swing Line Loans which have not been voluntarily
prepaid by the Company pursuant to subsection 2.4B(i), the Swing Line Lender
may, at any time in its sole and absolute discretion, deliver to the
Administrative Agent (with a copy to the Company), no later than 1:00 p.m. (New
York time) at least one (1) Business Day in advance of the proposed Funding
Date, a notice (which shall be deemed to be a Notice of Borrowing given by the
Company) requesting the Lenders with a Revolving Loan Commitment to make
Revolving Loans that are Base Rate Loans to the Company on such Funding Date in
an amount equal to the amount of such Swing Line Loans (the “Refunded Swing
Line Loans”) outstanding on the date such notice is given which the Swing Line
Lender requests the Lenders to prepay. Anything contained in this Agreement to
the contrary notwithstanding, (i) the proceeds of such Revolving Loans made by
the Lenders with a Revolving Loan Commitment other than the Swing Line Lender
shall be immediately delivered by the Administrative Agent to the Swing Line
Lender (and not to the Company) and applied to repay a corresponding portion of
the Refunded Swing Line Loans and (ii) on the day such Revolving Loans are
made, the Swing Line Lender’s Pro Rata Share of the Refunded Swing Line Loans
shall be deemed to be paid with the proceeds of a Revolving Loan made by the
Swing Line Lender to the Company, and such portion of the Swing Line Loans
deemed to be so paid shall no longer be outstanding as Swing Line Loans and
shall no longer be due under the Swing Line Note of the Swing Line Lender but
shall instead constitute part of the Swing Line Lender’s outstanding Revolving
Loans to the Company and shall be due under the Revolving Note issued by the
Company to the Swing Line Lender. The Company hereby authorizes the
Administrative Agent and the Swing Line Lender to charge the Company’s accounts
with the Administrative Agent and the Swing Line Lender (up to the amount
available in each such account) in order to immediately pay the Swing Line
Lender the amount of the Refunded Swing Line Loans to the extent the proceeds
of such Revolving Loans made by such Lenders, including the Revolving Loan
deemed to be made by the Swing Line Lender, are not sufficient to repay in full
the Refunded Swing Line Loans. If any portion of any such amount paid (or
deemed to be paid) to the Swing Line Lender should be recovered by or on behalf
of the Company from the Swing Line Lender in bankruptcy, by assignment for the
benefit of creditors or otherwise, the loss of the amount so recovered shall be
ratably shared among all Lenders in the manner contemplated by subsection 10.4.

     If for any reason Revolving Loans are not made pursuant to this subsection
2.1A(iii) in an amount sufficient to repay any amounts owed to the Swing Line
Lender in respect of any outstanding Swing Line Loans on or before the third
(3rd) Business Day after demand for payment thereof by the Swing Line Lender,
each Lender with a Revolving Loan Commitment shall be deemed to, and hereby
agrees to, have purchased a participation in such outstanding Swing Line Loans,
and in an amount equal to its Pro Rata Share of the applicable unpaid amount
together with accrued interest thereon. Upon one (1) Business Day’s notice
from the Swing Line Lender, each such Lender shall deliver to the Swing Line
Lender an amount equal to its respective participation in the applicable unpaid
amount in same day funds at the office of the Swing Line Lender located at the
Funding and Payment Office. In order to evidence such participation each such
Lender agrees to enter into a participation agreement at the request of the
Swing Line Lender in form and substance satisfactory to the Swing Line Lender,
provided, however, that the failure of the Swing Line Lender to make such a
request shall not affect the rights or obligations of the Swing Line Lender or
any other Lender hereunder. In the event any such Lender fails to make
available to the Swing Line Lender the amount of such Lender’s participation as
provided in this paragraph, the Swing Line Lender shall be entitled to recover
such amount on demand from such Lender together with interest thereon at the
rate customarily used by the Swing Line Lender for the correction of errors
among banks for three (3) Business Days and thereafter at the Base Rate, as
applicable.

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     Notwithstanding anything contained herein to the contrary, (i) each such
Lender’s obligation to make Revolving Loans for the purpose of repaying any
Refunded Swing Line Loans pursuant to the second preceding paragraph and each
such Lender’s obligation to purchase a participation in any unpaid Swing Line
Loans pursuant to the immediately preceding paragraph shall be absolute and
unconditional and shall not be affected by any circumstance, including without
limitation (a) any set-off, counterclaim, recoupment, defense or other right
which such Lender may have against the Swing Line Lender, the Company or any
other Person for any reason whatsoever, (b) the occurrence or continuation of a
Default or Event of Default; (c) any adverse change in the business,
operations, properties, assets, condition (financial or otherwise) or prospects
of the Company or any of its Subsidiaries; (d) any breach of this Agreement or
any other Loan Document by any party thereto; or (e) any other circumstance,
happening or event whatsoever, whether or not similar to any of the foregoing;
provided that such obligations of each such Lender are subject to the condition
that the Swing Line Lender believed in good faith that all conditions under
Section 4 to the making of the applicable Refunded Swing Line Loans or other
unpaid Swing Line Loans, were satisfied at the time such Refunded Swing Line
Loans or unpaid Swing Line Loans were made, or the satisfaction of any such
condition not satisfied had been waived by Requisite Lenders prior to or at the
time such Refunded Swing Line Loans or other unpaid Swing Line Loans were made;
and (ii) the Swing Line Lender shall not be obligated to, and shall not, make
any Swing Line Loans if it has actual knowledge of the continuation of a
Default or Event of Default.

	B.	 	Borrowing Mechanics.

	(i)	 	Borrowing Mechanics for Term Loans.

          (a) the Company shall deliver to the Administrative Agent a fully
executed Notice of Borrowing no later than (i) three (3) days prior to
the Closing Date with respect to Eurodollar Rate Loans to be made on the
Closing Date or (ii) one (1) day prior to the Closing Date with respect
to Base Rate Loans to be made on the Closing Date. Promptly upon receipt
by the Administrative Agent of such Notice, the Administrative Agent
shall notify each Lender of the proposed borrowing.

          (b) Each Lender shall make its Term Loan available to the
Administrative Agent not later than 1:00 p.m. (New York City time) on the
Closing Date, by wire transfer of same day funds in Dollars, at the
Administrative Agent’s Principal Office. Upon satisfaction or waiver of
the conditions precedent specified herein, the Administrative Agent shall
make the Term Loans available to the Company on the Closing Date by
causing such amount to be credited to the account of the Company at the
Administrative Agent’s Principal Office or to such other account as may
be designated in writing to the Administrative Agent by the Company.

	(ii)	 	Borrowing Mechanics for Revolving Loans.

     Revolving Loans (including any such Loans made as Eurodollar Rate Loans
with a particular Interest Period) made on any Funding Date (other than
Revolving Loans made pursuant to a request by the Swing Line Lender pursuant to
subsection 2.1A(iii) for the purpose of repaying any Refunded Swing Line Loans
and Revolving Loans made pursuant to subsection 3.3B for the purpose of
reimbursing the Issuing Bank for the amount of a drawing or payment under a
Letter of Credit issued by it) shall be (i) in an aggregate minimum amount of
$1,000,000 and integral multiples of $500,000 in excess of that amount in the
case of Eurodollar Rate Loans; and (ii) in an aggregate minimum amount of
$500,000 and integral multiples of $100,000 in excess of that amount in the
case of Base Rate Loans. Swing Line Loans made on any Funding Date shall be in
an aggregate minimum amount of $100,000 and integral multiples of $100,000 in
excess of that amount. The Company shall deliver to the Administrative Agent a
Notice of Borrowing no later than 1:00 p.m. (New York time), at least one (1)
Business Day in advance of the proposed Funding Date; provided that, in the
case of any such Loan requested as a Eurodollar Rate Loan, the Company shall
deliver such Notice of Borrowing no later than 1:00 p.m. (New York time), at
least three (3) Business Days in advance of the proposed Funding Date.
Whenever the Company desires that the Swing Line Lender make a Swing Line Loan,
it shall deliver to Administrative Agent a Notice of Borrowing no later than
2:00 p.m. (New York time) on the proposed Funding Date. The Notice of
Borrowing shall specify (i) the proposed Funding Date (which shall be a
Business Day), (ii) the amount and type of Loans requested, (iii) in the case
of Swing Line Loans, that such Loans shall be Base Rate Loans, (iv) in the case
of any Revolving Loans other than Swing Line Loans, whether such Revolving
Loans shall be Base Rate Loans or Eurodollar Rate Loans, and (v) in the case of
any Revolving Loans requested to be made as Eurodollar Rate Loans, the initial
Interest Period requested therefor. In lieu of delivering

-27-

 

the above-described Notice of Borrowing, the Company may give the
Administrative Agent telephonic notice by the required time of any proposed
borrowing under this subsection 2.1B(ii); provided that such notice shall
within one Business Day be confirmed in writing by delivery of a Notice of
Borrowing to the Administrative Agent on or before the applicable Funding Date.

     Neither the Administrative Agent nor any Lender shall incur any liability
to the Company in acting upon any telephonic notice referred to above that the
Administrative Agent believes in good faith to have been given by a duly
authorized officer or other person authorized to borrow on behalf of the
Company or for otherwise acting in good faith under this subsection 2.1B(ii),
and upon funding of Loans by the Lenders in accordance with this Agreement
pursuant to any such telephonic notice the Company shall have effected Loans
hereunder.

     The Company shall notify the Administrative Agent prior to the funding of
any Revolving Loans in the event that any of the matters to which the Company
is required to certify in the applicable Notice of Borrowing are no longer true
and correct as of the applicable Funding Date, and the acceptance by the
Company of the proceeds of any Revolving Loans shall constitute a
re-certification by the Company, as of the applicable Funding Date, as to the
matters to which the Company is required to certify in the applicable Notice of
Borrowing.

     Except as otherwise provided in subsections 2.6B, 2.6C and 2.6G, a Notice
of Borrowing for a Revolving Loan that is a Eurodollar Rate Loan (or telephonic
notice in lieu thereof) shall be irrevocable on and after the related Interest
Rate Determination Date, and the Company shall be bound to make a borrowing in
accordance therewith.

     Each Lender shall make the amount of its Revolving Loan available to the
Administrative Agent not later than 1:00 p.m. (New York time) on the applicable
Funding Date and the Swing Line Lender shall make the amount of its Swing Line
Loan available to the Company not later than 3:00 p.m. (New York time) on the
applicable Funding Date, in each case in same day funds, at the Funding and
Payment Office. Except as provided in subsection 2.1A(iii) or subsection 3.3B
with respect to Revolving Loans used to repay Refunded Swing Line Loans or to
reimburse the Issuing Bank for the amount of an honored drawing or payment
under a Letter of Credit issued by it, upon satisfaction or waiver of the
conditions precedent specified in subsections 4.1 (in the case of Loans made on
the Closing Date) and 4.2 (in the case of all Loans), the Administrative Agent
shall make the proceeds of such Loans available to the Company on the
applicable Funding Date by causing an amount of same day funds equal to the
proceeds of all such Loans received by the Administrative Agent from the
Lenders or the Swing Line Lender, as the case may be, to be credited to the
account of the Company specified by the Company in the applicable Notice of
Borrowing.

     C. Disbursement of Funds. All Loans shall be made, and all participation
purchased, by the Lenders simultaneously and proportionately to their
respective Pro Rata Shares, it being understood that no Lender shall be
responsible for any default by any other Lender in that other Lender’s
obligation to make a Loan requested hereunder nor shall the Commitment of any
Lender to make the particular type of Loan requested be increased or decreased
as a result of a default by any other Lender in that other Lender’s obligation
to make a Loan requested hereunder. Promptly after receipt by the
Administrative Agent of a Notice of Borrowing pursuant to subsection 2.1B(ii)
(or telephonic notice in lieu thereof), the Administrative Agent shall notify
each Lender or the Swing Line Lender, as the case may be, of the proposed
borrowing and of the amount of such Lender’s Pro Rata Share of the applicable
Revolving Loans.

     Unless the Administrative Agent shall have received notice from a Lender
prior to the applicable Funding Date that such Lender will not make available
to the Administrative Agent the amount of such Lender’s Loan requested on such
Funding Date, the Administrative Agent may assume that such Lender has made
such share available on such Funding Date in accordance and may, in reliance
upon such assumption and in its sole discretion, but shall not be obligated to
make available to the Company a corresponding amount on such Funding Date. In
such event, if a Lender has not in fact made its share of the applicable Loan
available to the Administrative Agent, then the applicable Lender and the
Company severally agree to pay to the Administrative Agent forthwith on demand
such corresponding amount with interest thereon, for each day from and
including the date such amount is made available to the Company to but
excluding the date of payment to the Administrative Agent, at (i) in the case
of a payment to be made by such Lender, the greater of the Base Rate and a rate
determined by the Administrative Agent in accordance with banking industry
rules on interbank compensation and (ii) in the case of a payment to be made by
the Company, the interest rate applicable to Base Rate Loans. If the Company
and such Lender shall pay such

-28-

 

interest to the Administrative Agent for the same or an overlapping
period, the Administrative Agent shall promptly remit to the Company the amount
of such interest paid by the Company for such period. If such Lender pays such
amount to the Administrative Agent, then such amount shall constitute such
Lender’s Loan included in such borrowing. Any payment by the Company shall be
without prejudice to any claim the Company may have against a Lender that shall
have failed to make such payment to the Administrative Agent.

     Unless the Administrative Agent shall have received notice from the
Company prior to the date on which any payment is due to the Administrative
Agent for the account of the Lenders and the Issuing Bank hereunder that the
Company will not make such payment, the Administrative Agent may assume that
the Company has made such payment on such date in accordance herewith and may,
in reliance upon such assumption, distribute to the Lenders or the Issuing
Bank, as the case may be, the amount due. In such event, if the Company has
not in fact made such payment, then each of the Lenders or the Issuing Bank, as
the case may be, severally agrees to repay to the Administrative Agent
forthwith on demand the amount so distributed to such Lender or the Issuing
Bank, with interest thereon, for each day from and including the date such
amount is distributed to it to but excluding the date of payment to the
Administrative Agent, at the greater of the Base Rate and a rate determined by
the Administrative Agent in accordance with banking industry rules on interbank
compensation.

     D. Notes. The Company shall execute and deliver on the Closing Date to
the Administrative Agent on behalf of each Lender requesting the same a
reasonable time in advance of the Closing Date (i) a Term Note substantially in
the form of Exhibit IV-A to evidence that Lender’s Term Loans in the principal
amount of that Lender’s Term Loans and with other appropriate insertions, and
each Lender’s Term Note shall evidence such Lender’s Pro Rata Share of such
respective amounts, (ii) a Revolving Note substantially in the form of Exhibit
IV-B to evidence that Lender’s Revolving Loans, in the principal amount of that
Lender’s Revolving Loan Commitment and with other appropriate insertions and
(iii) a Swing Line Note substantially in the form of Exhibit IV-C to evidence
the Swing Line Lender’s Swing Line Loans, in the principal amount of the Swing
Line Loan Commitment and with other appropriate insertions. Any Lender not
receiving a Note may request at any time that the Company issue it such Note on
the terms set forth herein, and the Company agrees to issue such Note
reasonably promptly upon the request of a Lender. The Notes and the
Obligations evidenced thereby shall be governed by, subject to and benefit from
all of the terms and conditions of this Agreement and the other Loan Documents
and shall be secured by the Collateral.

	2.2	 	Interest on the Loans.

     A. Rate of Interest. Subject to the provisions of subsections 2.6 and
2.7, each Term Loan and Revolving Loan shall bear interest on the unpaid
principal amount thereof from the date made to maturity (whether by
acceleration or otherwise) at a rate determined by reference to the Base Rate
or the Reserve Adjusted Eurodollar Rate, as the case may be. Subject to the
provisions of subsection 2.7, each Swing Line Loan shall bear interest on the
unpaid principal amount thereof from the date made to maturity (whether by
acceleration or otherwise) at a rate determined by reference to the Base Rate.
The applicable basis for determining the rate of interest with respect to any
Loan shall be selected by the Company initially at the time a Notice of
Borrowing is given with respect to such Loan pursuant to subsection 2.1B. The
basis for determining the interest rate with respect to any Term Loan or any
Revolving Loan may be changed from time to time pursuant to subsection 2.2D.
If on any day any Term Loan or Revolving Loan is outstanding with respect to
which notice has not been delivered to the Administrative Agent in accordance
with the terms of this Agreement specifying the applicable basis for
determining the rate of interest, then for that day that Loan shall bear
interest determined by reference to the Base Rate. Subject to the provisions
of subsections 2.2E and 2.7, the Term Loans and the Revolving Loans shall bear
interest through maturity as follows:

          (i) if a Base Rate Loan, then at the sum of the Base Rate plus the
Applicable Base Rate Margin; or

          (ii) if a Eurodollar Rate Loan, then at the sum of the Reserve
Adjusted Eurodollar Rate for the relevant Interest Period plus the
Applicable Eurodollar Rate Margin.

     Subject to the provisions of subsections 2.2E and 2.7, the Swing Line
Loans shall bear interest to maturity at the sum of the Base Rate plus the
Applicable Base Rate Margin for Revolving Loans.

-29-

 

     B. Interest Periods. In connection with each Eurodollar Rate Loan, the
Company may, pursuant to the applicable Notice of Borrowing or Notice of
Conversion/Continuation, as the case may be, select an interest period (each an
“Interest Period”) to be applicable to such Loan, which Interest Period shall
be, at the Company’s option, either a one, two, three or six month period (or a
nine or twelve month period, if the Administrative Agent determines such
Interest Periods are available for each Lender); provided that:

          (i) the initial Interest Period for any Eurodollar Rate Loan shall
commence on the Funding Date in respect of such Loan, in the case of a
Loan initially made as a Eurodollar Rate Loan, or on the date specified
in the applicable Notice of Conversion/Continuation, in the case of a
Loan converted to a Eurodollar Rate Loan;

          (ii) in the case of immediately successive Interest Periods
applicable to a Eurodollar Rate Loan continued as such pursuant to a
Notice of Conversion/Continuation, each successive Interest Period shall
commence on the day on which the next preceding Interest Period expires;

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

          (iv) any Interest Period that 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, subject to clause (v) of this subsection 2.2B, end on the
last Business Day of the next calendar month;

          (v) no Interest Period with respect to any portion of the Loans
shall extend beyond the Term Loan Maturity Date or Revolving Loan
Maturity Date, as applicable;

          (vi) no Interest Period with respect to any portion of the Term
Loans shall extend beyond a date on which the Company is required to make
a scheduled payment of principal of the Term Loans, unless the aggregate
principal amount of Term Loans that are Base Rate Loans plus the
aggregate principal amount of Term Loans that are Eurodollar Rate Loans
with Interest Periods expiring on or before such date equals or exceeds
the principal amount required to be paid on the Term Loans on such date;

          (vii) the Company may not select an Interest Period of longer than
one month prior to the end of the Initial Period;

          (viii) there shall be no more than five (5) Interest Periods
outstanding at any time during the Initial Period, and thereafter no more
than eight (8) Interest Periods shall be outstanding at any time; and

          (ix) in the event the Company fails to specify an Interest Period
for any Eurodollar Rate Loan in the applicable Notice of Borrowing or
Notice of Conversion/Continuation, the Company shall be deemed to have
selected an Interest Period of one month.

     C. Interest Payments. Subject to the provisions of subsection 2.2E,
interest on each Loan shall be payable in arrears on and to each Interest
Payment Date applicable to that Loan, upon any prepayment of that Loan (to the
extent accrued on the amount being prepaid) and at maturity (including final
maturity, by acceleration or otherwise); provided that in the event that any
Swing Line Loans, Revolving Loans or Term Loans that are Base Rate Loans are
prepaid pursuant to subsection 2.4B(i), interest accrued on such Loans through
the date of such prepayment shall be payable on the next succeeding Interest
Payment Date applicable to Base Rate Loans (or, if earlier, at final maturity).

     D. Conversion or Continuation. Subject to the provisions of subsection
2.6, the Company shall have the option (i) to convert at any time all or any
part of its outstanding Term Loans or Revolving Loans (x) in a minimum amount
of $500,000 and integral multiples of $100,000 in excess of that amount with
respect to conver-

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sions of Eurodollar Rate to Base Rate Loans and (y) in a minimum amount of
$1,000,000 and integral multiples of $500,000 in excess of that amount with
respect to conversions of Base Rate Loans to Eurodollar Rate Loans; or (ii)
upon the expiration of any Interest Period applicable to a Eurodollar Rate
Loan, to continue all or any portion of such Loan equal to $1,000,000 and
integral multiples of $500,000 in excess of that amount as a Eurodollar Rate
Loan; provided, however, subject to subsection 2.6D, a Eurodollar Rate Loan may
only be converted into a Base Rate Loan on the expiration date of an Interest
Period applicable thereto.

     The Company shall deliver a Notice of Conversion/Continuation to the
Administrative Agent no later than 1:00 p.m. (New York time) at least one
Business Day in advance of the proposed conversion date (in the case of a
conversion to a Base Rate Loan), and at least three Business Days in advance of
the proposed conversion/continuation date (in the case of a conversion to, or a
continuation of, a Eurodollar Rate Loan). A Notice of Conversion/Continuation
shall specify (i) the proposed conversion/continuation date (which shall be a
Business Day), (ii) the amount and type of the Loan to be converted/continued,
(iii) the nature of the proposed conversion/continuation, (iv) in the case of a
conversion to, or a continuation of, a Eurodollar Rate Loan, the requested
Interest Period, and (v) in the case of a conversion to, or a continuation of,
a Eurodollar Rate Loan, that no Default or Event of Default has occurred and is
continuing. In lieu of delivering the above-described Notice of
Conversion/Continuation, the Company may give the Administrative Agent
telephonic notice by the required time of any proposed conversion/continuation
under this subsection 2.2D; provided that such notice shall be promptly
confirmed in writing by delivery of a Notice of Conversion/Continuation to the
Administrative Agent on or before the proposed conversion/continuation date.

     Neither the Administrative Agent nor any Lender shall incur any liability
to the Company in acting upon any telephonic notice referred to above that the
Administrative Agent believes in good faith to have been given by a duly
authorized officer or other person authorized to act on behalf of the Company
or for otherwise acting in good faith under this subsection 2.2D, and upon
conversion or continuation of the applicable basis for determining the interest
rate with respect to any Loans in accordance with this Agreement pursuant to
any such telephonic notice the Company shall have effected a conversion or
continuation, as the case may be, hereunder.

     Except as otherwise provided in subsections 2.6B, 2.6C and 2.6G, a Notice
of Conversion/Continuation for conversion to, or continuation of, a Eurodollar
Rate Loan (or telephonic notice in lieu thereof) shall be irrevocable on and
after the related Interest Rate Determination Date, and the Company shall be
bound to effect a conversion or continuation in accordance therewith.

     E. Post-Default Interest. Upon the occurrence and during the continuation
of any Event of Default, if requested by the Requisite Lenders, the outstanding
principal amount of all Loans and, to the extent permitted by applicable law,
any interest payments thereon not paid when due and any fees and other amounts
then due and payable hereunder, shall thereafter bear interest (including
post-petition interest in any proceeding under the Bankruptcy Code, or other
applicable bankruptcy or insolvency laws) payable upon demand at a rate that is
2% per annum in excess of the interest rate otherwise payable under this
Agreement with respect to the applicable Loans (or, in the case of any such
fees and other amounts, at a rate which is 2% per annum in excess of the
interest rate otherwise payable under this Agreement for Revolving Loans
bearing interest at a rate determined by reference to the Base Rate); provided
that, in the case of Eurodollar Rate Loans, upon the expiration of the Interest
Period in effect at the time any such increase in interest rate is effective
such Eurodollar Rate Loans shall thereupon become Base Rate Loans and shall
thereafter bear interest payable upon demand at a rate equal to 2% per annum in
excess of the interest rates otherwise payable under this Agreement for Loans
that are Term Loans or Revolving Loans, as applicable. Payment or acceptance
of the increased rates of interest provided for in this subsection 2.2E is not
a permitted alternative to timely payment and shall not constitute a waiver of
any Event of Default or otherwise prejudice or limit any rights or remedies of
the Administrative Agent or any Lender.

     F. Computation of Interest. Interest on Loans shall be computed on the
basis of a 360-day year (a 365 or 366-day year, as applicable, in the case of
Base Rate Loans based on the Prime Rate) and for the actual number of days
elapsed in the period during which it accrues. In computing interest on any
Loan, the date of the making of such Loan or the first day of an Interest
Period applicable to such Loan or, with respect to a Base Rate Loan being
converted from a Eurodollar Rate Loan, the date of conversion of such
Eurodollar Rate Loan to such Base Rate Loan, as the case may be, shall be
included, and the date of payment of such Loan or the expiration date of an
Interest Period applicable to such Loan or, with respect to a Base Rate Loan
being converted to a Eurodollar Rate Loan,

-31-

 

the date of conversion of such Base Rate Loan to such Eurodollar Rate
Loan, as the case may be, shall be excluded; provided, that if a Loan is repaid
on the same day on which it is made, one day’s interest shall be paid on that
Loan.

	2.3	 	Fees.

	 	A.	 	Commitment Fees.

     (i) Revolving Loan Commitments. The Company agrees to pay to the
Administrative Agent, for distribution to each Lender in proportion to that
Lender’s Pro Rata Share of the Revolving Loan Commitments, commitment fees for
the period from and including the Closing Date to and excluding the Revolving
Loan Commitment Termination Date equal to the sum of (x) the average of the
daily excess of the Revolving Loan Commitments over the sum of the aggregate
principal amount of Revolving Loans outstanding (but not any Swing Line Loans
outstanding) plus the Letter of Credit Usage multiplied by the Applicable
Commitment Fee Percentage.

     (ii) Calculation and Payment. The foregoing commitment fees shall be
calculated on the basis of a 360-day year and the actual number of days elapsed
and shall be payable in arrears on the Closing Date, the last Business Day in
each of March, June, September and December of each year, commencing June 30,
2004, and on the Revolving Loan Commitment Termination Date.

     B. Annual Administrative Fee. The Company agrees to pay to the
Administrative Agent an annual administrative fee in such amounts as may have
been or hereafter be agreed between them from time to time.

     C. Other Agent Fees. The Company agrees to pay such other fees to Agents
as may have been or hereafter be agreed upon from time to time.

	2.4	 	Repayments and Prepayments; General Provisions Regarding Payments.

	 	A.	 	Scheduled Payments of Term Loans.

     The Company shall make principal payments on the Term Loans in
installments in amounts equal to a percentage of the Term Loans funded on the
Closing Date as set forth below and on the dates set forth below:

	 	 	 	 	 
	 	 	SCHEDULED PAYMENT
	 	 	OF
	DATE
	 	TERM LOANS

	June 30, 2004
	 	 	0.25	%
	September 30, 2004
	 	 	0.25	%
	December 31, 2004
	 	 	0.25	%
	March 31, 2005
	 	 	0.25	%
	June 30, 2005
	 	 	0.25	%
	September 30, 2005
	 	 	0.25	%
	December 31, 2005
	 	 	0.25	%
	March 31, 2006
	 	 	0.25	%
	June 30, 2006
	 	 	0.25	%
	September 30, 2006
	 	 	0.25	%
	December 31, 2006
	 	 	0.25	%
	March 31, 2007
	 	 	0.25	%
	June 30, 2007
	 	 	0.25	%
	September 30, 2007
	 	 	0.25	%
	December 31, 2007
	 	 	0.25	%
	March 31, 2008
	 	 	0.25	%
	June 30, 2008
	 	 	1.0	%
	September 30, 2008
	 	 	1.0	%
	December 31, 2008
	 	 	1.0	%
	Term Loan Maturity Date
	 	 	93.0	%

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provided that the scheduled installments of principal of the Term Loans set
forth above shall be reduced in connection with any voluntary or mandatory
prepayments of the Term Loans in accordance with subsection 2.4C; and provided,
further, that the final installment specified above for the repayment by the
Company of the Term Loans shall be in an amount, if such amount is different
from that specified above, sufficient to repay all amounts owing by the Company
under this Agreement with respect to the Term Loans.

	 	B.	 	Prepayments and Reductions in Commitments.

     (i) Voluntary Prepayments. The Company may, upon written or telephonic
notice to the Administrative Agent on or prior to 1:00 p.m. (New York time) on
the date of prepayment, which notice, if telephonic, shall be promptly
confirmed in writing, at any time and from time to time prepay, without premium
or penalty, any Swing Line Loan on any Business Day in whole or in part in an
aggregate minimum amount of $100,000 and integral multiples of $100,000 in
excess of that amount. In addition, upon not less than three (3) Business
Days’ prior written or telephonic notice, in the case of Loans which are
Eurodollar Rate Loans, and upon not less than one (1) Business Day’s prior
written or telephonic notice, in the case of Loans which are Base Rate Loans,
promptly confirmed in writing to the Administrative Agent (which notice the
Administrative Agent will promptly transmit by facsimile or telephone to each
Lender), at any time and from time to time prepay, without premium or penalty,
the Loans (other than Swing Line Loans) on any Business Day in whole or in part
in an aggregate minimum amount of (i) $1,000,000 and integral multiples of
$500,000 in excess of that amount in the case of Eurodollar Rate Loans; and
(ii) $500,000 and integral multiples of $500,000 in excess of that amount in
the case of Base Rate Loans; provided, however, that in the event the Company
shall prepay a Eurodollar Rate Loan other than on the expiration of the
Interest Period applicable thereto, the Company shall, at the time of such
prepayment, also pay any amounts payable under subsection 2.6D. Notice of
prepayment having been given as aforesaid, the Loans shall become due and
payable on the prepayment date specified in such notice and in the aggregate
principal amount specified therein. Any voluntary prepayments pursuant to this
subsection 2.4B(i) shall be applied as specified in subsection 2.4C.

     (ii) Voluntary Reductions of Revolving Loan Commitments. The Company may,
upon not less than three (3) Business Days’ prior written or telephonic notice,
promptly confirmed in writing to the Administrative Agent (which notice the
Administrative Agent will promptly transmit to each Lender), at any time and
from time to time terminate in whole or permanently reduce in part, without
premium or penalty, the Revolving Loan Commitments in an amount up to the
amount by which the Revolving Loan Commitments exceed the Total Utilization of
Revolving Loan Commitments at the time of such proposed termination or
reduction; provided that any such partial reduction of the Revolving Loan
Commitments shall be in an aggregate minimum amount of $1,000,000 and integral
multiples of $500,000 in excess of that amount. The Company’s notice to the
Administrative Agent shall designate the date (which shall be a Business Day)
of such termination or reduction and the amount of any partial reduction, and
such termination or reduction of the Revolving Loan Commitments shall be
effective on the date specified in such notice and shall reduce the Revolving
Loan Commitment of each Lender proportionately to its Pro Rata Share.

     (iii) Mandatory Prepayments. The Loans shall be prepaid in the manner
provided in subsection 2.4C upon the occurrence of the following circumstances:

          (a) Prepayments from Asset Dispositions. No later than the third
(3rd) Business Day following the date of receipt by the Company or any of
its Subsidiaries of Net Cash Proceeds of any Asset Disposition, the
Company shall prepay the Loans (and associated accrued interest and
prepayment fees, if any) as provided in subsection 2.4C in an amount
equal to the Net Cash Proceeds received; provided that (i) so long as no
Default or Event of Default shall have occurred and be continuing, and
(ii) to the extent that aggregate Net Cash Proceeds from such Asset
Dispositions do not exceed $2,000,000 in any Fiscal Year, the Company
shall have the option, directly or through one or more of its
Subsidiaries, to invest (or commit in writing to invest) such Net Cash
Proceeds, within two hundred-seventy (270) days of receipt thereof, in
long-term productive assets of the general type used in the business of
the Company and its Subsidiaries (and, to the extent not so invested (or
committed in writing to be invested), shall apply such amounts as
provided in subsection 2.4C).

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          (b) Prepayments Due to Issuance of Debt. No later than the third
(3d) Business Day following the date of receipt by the Company or any of
its Subsidiaries of any proceeds of any Indebtedness (other than
Indebtedness permitted by this Agreement), the Company shall prepay the
Loans (and associated accrued interest and prepayment fees, if any) as
provided in subsection 2.4C in an amount equal to the amount of such
proceeds (net of underwriting discounts and commissions, brokers’ and
financial advisors’ commissions, taxes, any prepayment premiums and other
reasonable costs and expenses associated therewith, including reasonable
legal fees and expenses); provided that payment or acceptance of the
amounts provided for in this subsection 2.4B(iii)(b) shall not constitute
a waiver of any Event of Default resulting from the incurrence of such
Indebtedness or otherwise prejudice any rights or remedies of the
Administrative Agent or any Lender. Notwithstanding the foregoing, in
the case of a Take-Out Financing, the Company shall be permitted to apply
such proceeds first, to prepay the outstanding Subordinated Notes and/or
Exchange Notes (together with interest and any redemption premium),
second, to the extent the Leverage Ratio is 4.0:1.0 or less (calculated
on a Pro Forma Basis after giving effect to the application of such
proceeds and evidenced by a Compliance Certificate delivered to the
Administrative Agent), to redeem or otherwise repurchase, in whole or in
part, the Preferred Stock (together with any redemption or repurchase
premium thereon), and third, to apply such amounts as provided in
subsection 2.4C.

          (c) Prepayments Due to Issuance of Equity Securities. No later than
the third (3rd) Business Day following the date of receipt by the Company
or any of its Subsidiaries of any Equity Proceeds, the Company shall
prepay the Loans (and associated accrued interest and prepayment fees, if
any) as provided in subsection 2.4C in an aggregate amount equal to 50%
of .such Equity Proceeds; provided that during any period in which the
Leverage Ratio (determined for any such period by reference to the most
recent Compliance Certificate delivered pursuant to subsection 6.1(iv)
calculating the Leverage Ratio) shall be 4.0:1.0 or less, the Company
shall only be required to make the prepayments and/or reductions
otherwise required hereby in an amount equal to 25% of such Equity
Proceeds; provided, further that no such prepayment or commitment
reduction shall be required with respect to Equity Proceeds that are
received (x) pursuant to an employee stock or stock option plan or upon
the exercise of warrants, options or other convertible securities
outstanding on the Closing Date or (y) in connection with sales or
issuances of any Capital Stock or other equity securities to one or more
Permitted Holders or a capital contribution by one or more Permitted
Holders.

          (d) Prepayments Due to Recovery Event. To the extent of Net
Recovery Event Proceeds received in connection with a Recovery Event in
excess of $1,000,000 in the aggregate and which are not applied in
accordance with subsection 7.7(i)(b), the Company shall prepay the Loans
(and associated accrued interest and prepayment fees, if any) as provided
in subsection 2.4C in an aggregate amount equal to 100% of the Net
Recovery Event Proceeds; provided that so long as no Default or Event of
Default shall have occurred and be continuing, the Company shall have the
option, directly or through one or more of its Subsidiaries, to invest
(or commit in writing to invest) such Net Recovery Event Proceeds, within
two hundred seventy (270) days of receipt thereof, in long-term
productive assets of the general type used in the business of the Company
and its Subsidiaries (and, to the extent not so invested (or committed in
writing to be invested), shall apply such amounts as provided in
subsection 2.4C). Concurrently with any prepayment of Loans pursuant to
this subsection 2.4B(iii)(d), the Company shall deliver to the
Administrative Agent an Officer’s Certificate demonstrating in detail
reasonably satisfactory to the Administrative Agent the derivation of the
insurance proceeds or condemnation award, as the case may be, of the
correlative Recovery Event. Cash proceeds from any Recovery Event of
$1,000,000 or less shall be paid to and retained by the Company.

          (e) Prepayments Due to Reductions or Restrictions of Revolving Loan
Commitments. The Company shall prepay the Swing Line Loans and/or
Revolving Loans from time to time to the extent necessary so that (1) the
Total Utilization of Revolving Loan Commitments shall not at any time
exceed the Revolving Loan Commitments then in effect, and (2) the
aggregate principal amount of all outstanding Swing Line Loans shall not
at any time exceed the Swing Line Loan Commitment then in effect. All
Swing Line Loans shall be prepaid in full prior to the prepayment of any
Revolving Loans pursuant to this subsection 2.4B(iii)(e). If at any time
that there are no Revolving Loans and Swing Line Loans outstanding
(whether after giving effect to any prepayment thereof pursuant to this
subclause (e) or otherwise) the Total Utilization of Revolving Loan
Commitments exceeds the Revolving Loan Commitment, the Company shall

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deposit into the Collateral Account such amounts as are necessary so
that, after giving effect thereto, the amount on deposit in the
Collateral Account pursuant to this subclause (e) is at least equal to
such excess.

          (f) Prepayments from Consolidated Excess Cash Flow. In the event
that there shall be Consolidated Excess Cash Flow for any Fiscal Year
(commencing with the Fiscal Year ending December 31, 2004), the Company
shall, no later than one hundred twenty (120) days after the end of such
Fiscal Year, prepay the Term Loans in an aggregate amount equal to 75% of
such Consolidated Excess Cash Flow for such Fiscal Year; provided that
during any period in which the Leverage Ratio (determined for any such
period by reference to the most recent Compliance Certificate delivered
pursuant to subsection 6.1(iv) calculating the Leverage Ratio) shall be
4.0:1.0 or less, the Company shall only be required to make the
prepayments and/or reductions otherwise required hereby in an amount equal to 50% of such Consolidated Excess Cash Flow.

	 	C.	 	Application of Prepayments and Unscheduled Reductions of Commitments.

     (i) Application of Prepayments by Type of Loans. Any voluntary
prepayments pursuant to subsection 2.4B(i) shall be applied: first to prepay
outstanding Swing Line Loans to the full extent thereof, and second to prepay
the types of Loans as specified in the correlative notice of prepayment and,
absent such specification, to prepay outstanding Term Loans to ratably reduce
each scheduled installments of principal thereof set forth in subsection 2.4A.
Any amount required to be applied as a prepayment of Loans or Revolving Loan
Commitment reductions pursuant to subsections (a), (b), (c), (d) or (f) of
subsection 2.4B(iii) or this subsection 2.4C(i) shall be applied first, to
prepay the Term Loans to ratably reduce each scheduled installments of
principal thereof set forth in subsection 2.4A, second, to prepay outstanding
Swing Line Loans to the full extent thereof and to permanently reduce the
Revolving Loan Commitment by the amount of such prepayment, third, to prepay
Revolving Loans to the full extent thereof and to further permanently reduce
the Revolving Loan Commitments by the amount of such prepayment, fourth, to
prepay outstanding reimbursement obligations with respect to Letters of Credit
and to further permanently reduce the Revolving Loan Commitments by the amount
of such prepayment, fifth, to cash collateralize Letters of Credit as provided
in the Collateral Account Agreement and to further permanently reduce the
Revolving Loan Commitments by the amount of such cash collateralization, and
sixth, to the extent of any remaining amount, to further reduce the Revolving
Loan Commitments. Each such prepayment shall be made subject to the
requirements of subsection 2.6D.

     (ii) Application of Prepayments of Term Loans to Installments. The amount
of any voluntary prepayments of Term Loans shall be applied to ratably reduce
each scheduled installment thereof set forth in subsection 2.4A. The amount of
any mandatory prepayments applied to Term Loans shall be applied to ratably
reduce each scheduled installment of principal thereof set forth in subsection
2.4A.

     (iii) Application of Prepayments of Loans to Base Rate Loans and
Eurodollar Rate Loans. Considering Loans constituting Term Loans and Revolving
Loans being prepaid separately, any prepayment thereof shall be applied first
to Base Rate Loans to the full extent thereof before application to Eurodollar
Rate Loans, in each case in a manner which minimizes the amount of any payments
required to be made by the Company pursuant to subsection 2.6D.

     D. Application of Proceeds of Collateral and Payments Under Guaranties and
Certain Other Amounts.

     (i) Application of Proceeds of Collateral. Except as provided in
subsection 2.4B(iii) with respect to prepayments from Net Cash Proceeds,
insurance proceeds or condemnation awards and proceeds of any Recovery Event
which are $1,000,000 or less which are retained by the Company, all proceeds
received by the Administrative Agent or the Collateral Agent, as the case may
be, in respect of any sale of, collection from, or other realization upon all
or any part of the Collateral under any Collateral Document may, in the
discretion of the Collateral Agent, be held by the Collateral Agent as
Collateral for, and/or (then or at any time thereafter) applied in full or in
part by the Administrative Agent against, the applicable Secured Obligations
(as defined in such Collateral Document) in the following order of priority:

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          (a) to the payment of all costs and expenses of such sale,
collection or other realization, including without limitation reasonable
compensation to the Agents and their agents and counsel, and all other
reasonable expenses, liabilities and advances made or incurred by the
Agents in connection therewith, and all amounts for which such Agents are
entitled to indemnification under such Collateral Document and all
advances made by the Collateral Agent thereunder for the account of the
applicable Loan Party (excluding principal and interest in respect to any
Loans of such Loan Party), and to the payment of all reasonable costs and
expenses paid or incurred by the Collateral Agent in connection with the
exercise of any right or remedy under such Collateral Document, all in
accordance with the terms of this Agreement and such Collateral Document;

          (b) thereafter, to the extent of any excess proceeds, to the payment
of all other Secured Obligations for the ratable benefit of the holders
thereof; and

          (c) thereafter, to the extent of any excess proceeds, to the payment
to or upon the order of such Loan Party or to whosoever may be lawfully
entitled to receive the same or as a court of competent jurisdiction may
direct.

     (ii) Application of Payments Under Guaranties. All payments received by
the Administrative Agent under any Guaranty shall be applied promptly from time
to time by the Administrative Agent in the following order of priority:

          (a) to the payment of the reasonable costs and expenses of any
collection or other realization under such Guaranty, including without
limitation reasonable compensation to the Administrative Agent and its
agents and counsel, and all expenses, liabilities and advances made or
incurred by the Administrative Agent in connection therewith, all in
accordance with the terms of this Agreement and such Guaranty;

          (b) thereafter, to the extent of any excess such payments, to the
payment of all other Guarantied Obligations (as defined in such Guaranty)
for the ratable benefit of the holders thereof; and

          (c) thereafter, to the extent of any excess such payments, to the
payment to the applicable Guarantor or to whosoever may be lawfully
entitled to receive the same or as a court of competent jurisdiction may
direct.

	 	E.	 	General Provisions Regarding Payments.

     (i) Manner and Time of Payment. All payments by the Company of principal,
interest, fees and other Obligations hereunder and under the Notes shall be
made in same day funds and without defense, setoff or counterclaim, free of any
restriction or condition, and delivered to the Administrative Agent not later
than 2:00 p.m. (New York time) on the date due at the Funding and Payment
Office for the account of the Lenders; funds received by the Administrative
Agent after that time on such due date shall, at the Administrative Agent’s
discretion, be deemed to have been paid by the Company on the next succeeding
Business Day. The Company hereby authorizes the Administrative Agent to charge
its accounts with the Administrative Agent in order to cause timely payment to
be made to the Administrative Agent of all principal, interest, fees and
expenses due hereunder (subject to sufficient funds being available in its
accounts for that purpose).

     (ii) Application of Payments to Principal, Interest and Prepayment Fees.
Except as provided in subsection 2.2C, all payments in respect of the principal
amount of any Loan shall include payment of accrued interest and prepayment
fees, if any, on the principal amount being repaid or prepaid, and all such
payments (and in any event any payments made in respect of any Loan on a date
when interest is due and payable with respect to such Loan) shall be applied to
the payment of interest and prepayment fees, if any, before application to
principal; provided, that in no event shall the total amount of interest, fees
and principal exceed the amount required to be prepaid.

     (iii) Apportionment of Payments. The aggregate principal, prepayment fees
and interest payments shall be apportioned among all outstanding Loans to which
such payments relate, in each case proportionately to the Lenders’ respective
Pro Rata Shares. The Administrative Agent shall promptly distribute to each
Lender, at its ap-

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plicable Lender Office, its Pro Rata Share of all such payments received
by the Administrative Agent and the commitment fees of such Lender when
received by the Administrative Agent pursuant to subsection 2.3.
Notwithstanding the foregoing provisions of this subsection 2.4E(iii) if,
pursuant to the provisions of subsection 2.6C, any Notice of
Conversion/Continuation is withdrawn as to any Affected Lender or if any
Affected Lender makes Base Rate Loans in lieu of its Pro Rata Share of any
Eurodollar Rate Loans, the Administrative Agent shall give effect thereto in
apportioning payments received thereafter.

     (iv) Payments on Business Days. Except if expressly provided otherwise,
whenever any payment to be made hereunder shall be stated to be due on a day
that is not a Business Day, such payment shall be made on the next succeeding
Business Day, and such extension of time shall be included in the computation
of the payments of interest hereunder or of the commitment fees hereunder, as
the case may be.

     (v) Notation of Payment. Each Lender agrees that before disposing of any
Note held by it, or any part thereof (other than by granting participations
therein), that Lender will make a notation thereon of all Loans evidenced by
that Note and all principal payments previously made thereon and of the date to
which interest thereon has been paid; provided that the failure to make (or any
error in the making of) a notation of any Loan made under such Note shall not
limit or otherwise affect such disposition or the obligations of the Company
hereunder or under such Note with respect to any Loan or any payments of
principal or interest on such Note.

	2.5	 	Use of Proceeds.

     A. Term Loans. The proceeds of the Term Loans made to the Company shall
be applied, together with the proceeds of the loans made pursuant to the Second
Lien Credit Agreement to (i) repay in full the obligations under the Existing
Credit Facilities, (ii) finance the redemption of a portion of the Subordinated
Notes outstanding on the Closing Date in an aggregate principal amount up to
$25,000,000 and (iii) pay the Transaction Costs in an amount up to $8,000,000.

     B. Revolving Loans; Swing Line Loans. The proceeds of any Revolving Loans
and any Swing Line Loans shall be applied by the Company after consummation of
the Transactions for working capital and general corporate purposes of the
Company and its Subsidiaries.

     C. Compliance With Laws. The Company undertakes that no portion of the
proceeds of any Loans or other extensions of credit under this Agreement shall
be used by any Loan Party in any manner which would be illegal under, or which
would cause the invalidity or unenforceability (in each case in whole or in
part) of any Loan Document under, any applicable law.

     D. Margin Regulations. Without limiting the generality of subsection
2.5C, no portion of the proceeds of any borrowing under this Agreement shall be
used by the Company or any of its Subsidiaries in any manner that might cause
the borrowing or the application of such proceeds to violate Regulation T,
Regulation U or Regulation X of the Board of Governors of the Federal Reserve
System or any other regulation of such Board or to violate the Exchange Act, in
each case as in effect on the date or dates of such borrowing and such use of
proceeds.

	2.6	 	Special Provisions Governing Eurodollar Rate Loans.

     Notwithstanding any other provision of this Agreement to the contrary, the
following provisions shall govern with respect to Eurodollar Rate Loans as to
the matters covered:

     A. Determination of Applicable Interest Rate. As soon as practicable
after 11:00 a.m. (New York time) on each Interest Rate Determination Date, the
Administrative Agent shall determine (which determination shall, absent
manifest error, be final, conclusive and binding upon all parties) the interest
rate that shall apply to the Eurodollar Rate Loans for which an interest rate
is then being determined for the applicable Interest Period and shall promptly
give notice thereof (in writing or by telephone confirmed in writing) to the
Company and each Lender.

     B. Inability To Determine Applicable Interest Rate. In the event that the
Administrative Agent shall have reasonably determined (which determination
shall be final and conclusive and binding upon all parties

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hereto), on any Interest Rate Determination Date with respect to any
Eurodollar Rate Loans, that by reason of circumstances arising after the date
of this Agreement affecting the London interbank market, adequate and fair
means do not exist for ascertaining the interest rate applicable to such Loans
on the basis provided for in the definition of Reserve Adjusted Eurodollar Rate
the Administrative Agent shall on such date give notice (by telecopy or by
telephone confirmed in writing) to the Company and each Lender of such
determination, whereupon (i) no Loans may be made or continued as, or converted
to, Eurodollar Rate Loans, until such time as the Administrative Agent notifies
the Company and the Lenders that the circumstances giving rise to such notice
no longer exist (such notification not to be unreasonably withheld or delayed)
and (ii) any Notice of Borrowing or Notice of Conversion/Continuation given by
the Company with respect to the Loans in respect of which such determination
was made shall be deemed to be rescinded by the Company.

     C. Illegality or Impracticability of Eurodollar Rate Loans. In the event
that on any date any Lender shall have reasonably determined (which
determination shall be final and conclusive and binding upon all parties hereto
but shall be made only after consultation with the Company and the
Administrative Agent) that the making, maintaining or continuation of its
Eurodollar Rate Loans (i) has become unlawful as a result of compliance by such
Lender in good faith with any law, treaty, governmental rule, regulation,
guideline or order (or would conflict with any such treaty, governmental rule,
regulation, guideline or order not having the force of law even though the
failure to comply therewith would not be unlawful) or (ii) has become
impracticable, or would cause such Lender material hardship, as a result of
contingencies occurring after the date of this Agreement which materially and
adversely affect the London interbank market, then, and in any such event, such
Lender shall be an “Affected Lender” and it shall on that day give notice (by
telecopy or by telephone confirmed in writing) to the Company and the
Administrative Agent of such determination (which notice the Administrative
Agent shall promptly transmit to each other Lender). Thereafter (a) the
obligation of the Affected Lender to make Loans as, or to convert Loans to,
Eurodollar Rate Loans, shall be suspended until such notice shall be withdrawn
by the Affected Lender, (b) to the extent such determination by the Affected
Lender relates to a Eurodollar Rate Loan then being requested by the Company
pursuant to the Notice of Borrowing or a Notice of Conversion/Continuation, the
Affected Lender shall make such Loan as (or convert such Loan to, as the case
may be) a Base Rate Loan, (c) the Affected Lender’s obligation to maintain its
outstanding Eurodollar Rate Loans, as the case may be (the “Affected Loans”),
shall be terminated at the earlier to occur of the expiration of the Interest
Period then in effect with respect to the Affected Loans or when required by
law, and (d) the Affected Loans shall automatically convert into Base Rate
Loans on the date of such termination. Notwithstanding the foregoing, to the
extent a determination by an Affected Lender as described above relates to a
Eurodollar Rate Loan then being requested by the Company pursuant to a Notice
of Conversion/Continuation, the Company shall have the option, subject to the
provisions of subsection 2.6D, to rescind such of Notice of Borrowing or Notice
of Conversion/Continuation as to all Lenders by giving notice (by telecopy or
by telephone confirmed in writing) to the Administrative Agent of such
rescission on the date on which the Affected Lender gives notice of its
determination as described above (which notice of rescission the Administrative
Agent shall promptly transmit to each other Lender). Except as provided in the
immediately preceding sentence, nothing in this subsection 2.6C shall affect
the obligation of any Lender other than an Affected Lender to make or maintain
Loans as, or to convert Loans to, Eurodollar Rate Loans in accordance with the
terms of this Agreement.

     D. Compensation for Breakage or Non-Commencement of Interest Periods. The
Company shall compensate each Lender, upon written request by that Lender
(which request shall set forth the basis for requesting such amounts), for all
reasonable losses, expenses and liabilities (including, without limitation, any
interest paid by that Lender to the Lenders of funds borrowed by it to make or
carry its Eurodollar Rate Loans and any actual loss, expense or liability
sustained by that Lender in connection with the liquidation or re-employment of
such funds) which that Lender may sustain: (i) if for any reason (other than a
default by that Lender) a borrowing of any Eurodollar Rate Loan does not occur
on a date specified therefor in a Notice of Borrowing or a telephonic request
for borrowing, or a conversion to or continuation of any Eurodollar Rate Loan
does not occur on a date specified therefor in a Notice of
Conversion/Continuation or a telephonic request for conversion or continuation,
(ii) if any prepayment (including any prepayment pursuant to subsection 2.4B or
assignment pursuant to subsection 2.8) or conversion of any of its Eurodollar
Rate Loans occurs on a date that is not the last day of an Interest Period
applicable to that Loan, (iii) if any prepayment of any of its Eurodollar Rate
Loans is not made on any date specified in a notice of prepayment given by the
Company, or (iv) as a consequence of any other default by the Company in the
repayment of its Eurodollar Rate Loans when required by the terms of this
Agreement.

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     E. Booking of Eurodollar Rate Loans. Subject to subsection 2.8, any
Lender may make, carry or transfer Eurodollar Rate Loans at, to, or for the
account of any of its branch offices or the office of an Affiliate of that
Lender.

     F. Assumptions Concerning Funding of Eurodollar Rate Loans. Calculation
of all amounts payable to a Lender under this subsection 2.6 and under
subsection 2.7A shall be made as though that Lender had actually funded each of
its relevant Eurodollar Rate Loans through the purchase of a Eurodollar deposit
bearing interest at the rate obtained pursuant to clause (i) of the definition
of Reserve Adjusted Eurodollar Rate in an amount equal to the amount of such
Eurodollar Rate Loan and having a maturity comparable to the relevant Interest
Period and, through the transfer of such Eurodollar deposit from an offshore
office of that Lender to a domestic office of that Lender in the United States
of America; provided, however, that each Lender may fund each of its Eurodollar
Rate Loans in any manner it sees fit and the foregoing assumptions shall be
utilized only for the purposes of calculating amounts payable under this
subsection 2.6 and under subsection 2.7A.

     G. Eurodollar Rate Loans After Default. After the occurrence of and
during the continuation of a Default or Event of Default, (i) the Company may
not elect to have a Loan be made or maintained as, or converted to, a
Eurodollar Rate Loan after the expiration of any Interest Period then in effect
for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice
of Borrowing or Notice of Conversion/Continuation given by the Company with
respect to a requested borrowing or conversion/continuation that has not yet
occurred shall be deemed to be rescinded by the Company.

	2.7	 	Increased Costs; Taxes.

     A. Increased Costs Generally. If any Change in Law shall: (i) impose,
modify or deem applicable any reserve, special deposit, compulsory loan,
insurance charge or similar requirement against assets of, deposits with or for
the account of, or credit extended by, any Lender (except any reserve
requirement reflected in the Eurodollar Base Rate) or the Issuing Bank; (ii)
subject any Lender or the Issuing Bank to any tax of any kind whatsoever with
respect to this Agreement, any Letter of Credit, any participation in a Letter
of Credit or any Eurodollar Rate Loans made by it, or change the basis of
taxation of payments to such Lender or the Issuing Bank in respect thereof
(except for Indemnified Taxes or Other Taxes covered by subsection 2.7E and
changes in the rate of any Excluded Tax payable by such Lender or the Issuing
Bank); or (iii) impose on any Lender or the Issuing Bank or the London
interbank market any other condition, cost or expense affecting this Agreement
or Eurodollar Rate Loans hereunder made by such Lender or any Letter of Credit
or participation therein; and the result of any of the foregoing shall be to
increase the cost to such Lender of making or maintaining any Eurodollar Rate
Loan (or of maintaining its obligations to make any such Loan) or to increase
the cost to such Lender or the Issuing Bank of participating in, issuing or
maintaining any Letter of Credit (or of maintaining its obligation to
participate in or to issue any Letter of Credit), or to reduce the amount of
any sum received or receivable by such Lender or the Issuing Bank hereunder
(whether of principal, interest or any other amount), then upon request of such
Lender the Company will pay to such Lender or the Issuing Bank such additional
amount or amounts as will compensate such Lender or the Issuing Bank for such
additional costs incurred or reduction suffered.

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

     C. Certificates for Reimbursement. A certificate of a Lender or the
Issuing Bank setting forth the amount or amounts necessary to compensate such
Lender or the Issuing Bank or its holding company, as the case

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may be, as specified in subsection 2.7A or 2.7B and delivered to the
Company shall be conclusive absent manifest error. The Company shall pay such
Lender or the Issuing Bank, as the case may be, the amount shown as due on any
such certificate within 10 days after receipt thereof.

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

	 	E.	 	Taxes.

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

     (ii) Payment of Other Taxes by the Company. Without limiting the
provisions of paragraph (i) above, the Company shall timely pay any Other Taxes
to the relevant Governmental Authority in accordance with applicable law.

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

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

     (v) Status of Lenders. Any Foreign Lender that is entitled to an
exemption from or reduction of withholding tax under the law of the
jurisdiction in which the Company is a resident for tax purposes, or any treaty
to which such jurisdiction is a party, with respect to payments hereunder or
under any other Loan Document shall deliver to the Company (with a copy to the
Administrative Agent), at the time or times prescribed by applicable law or
reasonably requested by the Company or the Administrative Agent, such properly
completed and executed documentation prescribed by applicable law as will
permit such payments to be made without withholding or at a reduced rate of
withholding. In addition, any Lender, if requested by the Company or the
Administrative Agent, shall deliver such other documentation prescribed by
applicable law or reasonably requested by the Company or the Administrative
Agent as will enable the Company or the Administrative Agent to determine
whether or not such Lender is subject to backup withholding or information
reporting requirements. Without limiting the generality of the foregoing, in
the event that the Company is a resident for tax purposes in the United States
of America, any For-

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eign Lender shall deliver to the Company and the Administrative Agent (in
such number of copies as shall be requested by the recipient) on or prior to
the date on which such Foreign Lender becomes a Lender under this Agreement
(and from time to time thereafter upon the request of the Company or the
Administrative Agent, but only if such Foreign Lender is legally entitled to do
so), whichever of the following is applicable: (i) duly completed copies of
Internal Revenue Service Form W-8BEN, claiming eligibility for benefits of an
income tax treaty to which the United States of America is a party, (ii) duly
completed copies of Internal Revenue Service Form W-8ECI, (iii) in the case of
a Foreign Lender claiming the benefits of the exemption for portfolio interest
under section 881(c) of the Code, (x) a certificate 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 Company within the meaning
of section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation”
described in section 881(c)(3)(C) of the Code and (y) duly completed copies of
Internal Revenue Service Form W-8BEN or (iv) any other form prescribed by
applicable law as a basis for claiming exemption from or a reduction in United
States Federal withholding tax duly completed together with such supplementary
documentation as may be prescribed by applicable law to permit the Company to
determine the withholding or deduction required to be made.

     (vi) Treatment of Certain Refunds. If the Administrative Agent, a Lender
or the Issuing Bank determines, in its sole discretion, that it has received a
refund of any Taxes or Other Taxes as to which it has been indemnified by the
Company or with respect to which the Company has paid additional amounts
pursuant to such subsection 2.7, it shall pay to the Company an amount equal to
such refund (but only to the extent of indemnity payments made, or additional
amounts paid, by the Company under such subsection 2.7 with respect to the
Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket
expenses of the Agent or such Lender or the Issuing Bank, as the case may be,
and without interest (other than any interest paid by the relevant Governmental
Authority with respect to such refund); provided that the Company, upon the
request of such Agent, such Lender or the Issuing Bank, agrees to repay the
amount paid over to the Company (plus any penalties, interest or other charges
imposed by the relevant Governmental Authority) to such Agent, such Lender or
the Issuing Bank in the event such Agent, such Lender or the Issuing Bank is
required to repay such refund to such Governmental Authority. This paragraph
shall not be construed to require any Agent, any Lender or the Issuing Bank to
make available its tax returns (or any other information relating to its taxes
which it deems confidential) to the Company or any other Person.

	2.8	 	Mitigation Obligations; Replacement of Lenders.

     A. Designation of a Different Lender Office. If any Lender or the Issuing
Bank requests compensation under subsection 2.7A or 2.7B, or requires the
Company to pay any additional amount to any Lender, the Issuing Bank or any
Governmental Authority for the account of any Lender or the Issuing Bank
pursuant to subsection 2.7E, then such Lender or the Issuing Bank shall use
reasonable efforts to designate a different Lender Office for making, issuing,
funding or maintaining its Commitments, Loans or Letters of Credit hereunder or
to assign its rights and obligations hereunder to another of its offices,
branches or affiliates, if, in the judgment of such Lender or the Issuing Bank,
such designation or assignment (i) would eliminate or reduce amounts payable
pursuant to subsection 2.7 in the future and (ii) would not subject such Lender
or the Issuing Bank to any unreimbursed cost or expense and would not otherwise
be disadvantageous to such Lender or the Issuing Bank. The Company hereby
agrees to pay all reasonable costs and expenses incurred by any Lender or the
Issuing Bank in connection with any such designation or assignment.

     B. Replacement of Lenders. If any Lender or the Issuing Bank requests
compensation under subsection 2.7A or 2.7B, or if the Company is required to
pay any additional amount to any Lender, the Issuing Bank or any Governmental
Authority for the account of any Lender or the Issuing Bank pursuant to
subsection 2.7E, or if any Lender or the Issuing Bank defaults in its
obligation to fund Loans hereunder, then the Company may, at its sole expense
and effort, upon notice to such Lender or the Issuing Bank and the
Administrative Agent, require such Lender or the Issuing Bank to assign and
delegate, without recourse (in accordance with and subject to the restrictions
contained in, and consents required by, subsection 10.1), all of its interests,
rights and obligations under this Agreement and the related Loan Documents to
an Eligible Assignee that shall assume such obligations (which Eligible
Assignee may be another Lender, if a Lender accepts such assignment); provided
that (i) the Company shall have paid to the Administrative Agent the assignment
fee specified in subsection 10.1B(iv), (ii) such Lender or the Issuing Bank
shall have received payment of an amount equal to the outstanding principal of
its Loans, accrued interest thereon, accrued fees and all other amounts payable
to it hereunder and under the other Loan Documents (including any amounts under
subsection 2.6D) from such Eligible Assignee (to the extent of such outstanding
princi-

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pal and accrued interest and fees) or the Company (in the case of all
other amounts), (iii) in the case of any such assignment resulting from a claim
for compensation under subsection 2.7A or 2.7B or payments required to be made
pursuant to subsection 2.7E, such assignment will result in a reduction in such
compensation or payments thereafter, and (iv) such assignment does not conflict
with applicable law. A Lender or the Issuing Bank shall not be required to
make any such assignment or delegation if, prior thereto, as a result of a
waiver by such Lender, the Issuing Bank or otherwise, the circumstances
entitling the Company to require such assignment and delegation cease to apply.

SECTION 3.

LETTERS OF CREDIT

	3.1	 	Issuance of Letters of Credit and Lenders’ Purchase of Participations Therein.

     A. Letters of Credit. In addition to the Company requesting that Lenders
make Revolving Loans pursuant to subsection 2.1A(ii) and that the Swing Line
Lender make Swing Line Loans pursuant to subsection 2.1A(iii), the Company may
request, in accordance with the provisions of this subsection 3.1, from time to
time during the period after the Closing Date to but excluding the date which
is thirty (30) days before the Revolving Loan Commitment Termination Date, that
the Issuing Bank issue Letters of Credit for the account of the Company for the
purposes specified in the definition of Letters of Credit. Subject to and upon
the terms and conditions of this Agreement and in reliance upon the
representations and warranties of Loan Parties herein set forth, the Issuing
Bank agrees to issue such Letters of Credit in accordance with the provisions
of this subsection 3.1; provided that the Company shall not request that the
Issuing Bank issue (and the Issuing Bank shall not issue):

          (i) any Letter of Credit if, after giving effect to such issuance,
the Total Utilization of Revolving Loan Commitments would exceed the
Revolving Loan Commitments then in effect;

          (ii) any Letter of Credit if, after giving effect to such issuance,
the Letter of Credit Usage would exceed the Letter of Credit Subfacility
Commitment;

          (iii) any Letter of Credit having an expiration date later than the
earlier of (a) five (5) Business Days prior to the Revolving Loan
Commitment Termination Date and (b) the date which is 12 months from the
date of issuance of such Letter of Credit; provided that the immediately
preceding clause (b) shall not prevent the Issuing Bank from agreeing
that a Letter of Credit will automatically be extended for one or more
successive periods absent a Default or Event of Default, subject to the
immediately preceding clause (a), not to exceed 12 months each unless the
Issuing Bank elects not to extend for any such additional period;
provided, further, that, unless the Requisite Lenders otherwise consent,
the Issuing Bank shall give notice that it will not extend such Letter of
Credit if it has knowledge that a Default or Event of Default has
occurred and is continuing on the last day on which such Issuing Bank may
give notice to the beneficiary that it will not extend such Letter of
Credit;

          (iv) any Letter of Credit denominated in a currency other than
Dollars; or

          (v) any Letter of Credit during any period when a Lender Default
exists, unless the Issuing Bank has entered into arrangements
satisfactory to it and the Company to eliminate the Issuing Bank’s risk
with respect to the Defaulting Lender, including by cash collateralizing
such Defaulting Lender’s Pro Rata Share of the Letter of Credit Usage
(after giving effect to the issuance of the proposed Letter of Credit).

	 	B.	 	Mechanics of Issuance.

     (i) Notice of Issuance. Whenever the Company desires the issuance of a
Letter of Credit, it shall deliver to the Issuing Bank, at the Letter of Credit
Issuing Office, and the Administrative Agent, at the Funding and Payment
Office, a Notice of Issuance of Letter of Credit no later than 1:00 p.m. (New
York time) at least five (5) Business Days, or such shorter period as may be
agreed to by the Issuing Bank in any particular instance, in advance of the
proposed date of issuance. The Notice of Issuance of Letter of Credit shall
specify (a) the proposed date of issuance (which shall be a Business Day), (b)
the face amount of or maximum aggregate liability under, as applicable, the
Letter of Credit, (c) the expiration date of the Letter of Credit, (d) the name
and address of the beneficiary,

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and (e) the verbatim text of the proposed Letter of Credit or the proposed
terms and conditions thereof, including a precise description of any documents
and the verbatim text of any certificates to be presented by the beneficiary
which, if presented by the beneficiary prior to the expiration date of the
Letter of Credit, would require the Issuing Bank to make payment thereunder,
provided that the Issuing Bank, in its reasonable discretion, may require
changes in the text of the proposed Letter of Credit or any such documents or
certificates; provided further that no Letter of Credit shall require payment
against a conforming draft or other request for payment to be made thereunder
on the same business day (under the laws of the jurisdiction in which the
office of the Issuing Bank to which such draft or other request for payment is
required to be presented is located) that such draft or other request for
payment is presented if such presentation is made after 10:00 a.m. (in the time
zone of such office of the Issuing Bank) on such Business Day.

     The Company shall notify the Issuing Bank and the Administrative Agent
prior to the issuance of any Letter of Credit in the event that any of the
matters to which the Company is required to certify in the applicable Notice of
Issuance of Letter of Credit is no longer true and correct as of the proposed
date of issuance of such Letter of Credit, and upon the issuance of any Letter
of Credit, the Company shall be deemed to have re-certified, as of the date of
such issuance, as to the matters to which the Company is required to certify in
the applicable Notice of Issuance of Letter of Credit.

     (ii) Issuance of Letter of Credit. Upon satisfaction or waiver (in
accordance with subsection 10.5) of the conditions set forth in subsection 4.3,
the Issuing Bank shall issue the requested Letter of Credit in accordance with
the Issuing Lender’s standard procedures, and upon its issuance of such Letter
of Credit the Issuing Bank shall promptly notify the Administrative Agent and
each Lender of such issuance, which notice shall be accompanied by a copy of
such Letter of Credit.

     (iii) Reports to Lenders. (a) On the first Business Day of every calendar
week, so long as any Letter of Credit shall have been outstanding during such
week, the Issuing Bank shall deliver to the Administrative Agent a report
setting forth for such week the daily maximum amount available to be drawn
under the Letters of Credit that were outstanding during such calendar week,
and (b) on the last Business Day of every calendar month, the Administrative
Agent shall deliver to each Lender with a Revolving Loan Commitment a report
setting forth for such calendar month the daily maximum amount available to be
drawn under the Letters of Credit that were outstanding during such calendar
month.

     (iv) Existing Letters of Credit. On and after the Closing Date, the
Existing Letters of Credit shall be deemed to have been issued by the
applicable Issuing Bank pursuant to the terms of this Agreement and shall
constitute Letters of Credit for all purposes hereof and under the other Loan
Documents. The Company agrees that it shall reimburse the Issuing Bank upon
any draw under the Existing Letters of Credit in accordance with Section 3 and
other provisions of this agreement.

     C. Lenders’ Purchase of Participations in Letters of Credit. Immediately
upon the issuance of each Letter of Credit, each Lender with a Revolving Loan
Commitment shall be deemed to, and hereby agrees to, have irrevocably purchased
from the Issuing Bank a participation in such Letter of Credit and any drawings
honored or payments made thereunder in an amount equal to such Lender’s Pro
Rata Share (with respect to the Revolving Loan Commitments) of the maximum
amount which is or at any time may become available to be drawn or required to
be paid thereunder.

	3.2	 	Letter of Credit Fees.

     The Company agrees to pay the following amounts to the Administrative
Agent with respect to Letters of Credit issued by it for the account of the
Company:

          (i) with respect to each Letter of Credit, (a) a fronting fee equal
to 0.25% per annum of the daily maximum amount available to be drawn
under such Letter of Credit or such lesser amount as may be agreed
between the Company and the Issuing Bank and (b) a Letter of Credit fee
equal to the product of (x) the then Applicable Eurodollar Rate Margin
with respect to Revolving Loans (plus, if applicable, additional interest
that would be payable with respect to Revolving Loans pursuant to
subsection 2.2.E) and (y) the daily maximum amount available to be drawn
under such Letter of Credit, in each case payable in arrears

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on and to the last Business Day in each of March, June, September
and December of each year, commencing June 30, 2004, and on the Revolving
Loan Commitment Termination Date and computed on the basis of a 360-day
year for the actual number of days elapsed; and

          (ii) with respect to the issuance, amendment or transfer of each
Letter of Credit and each drawing made thereunder (without duplication of
the fees payable under clause (i) above), documentary and processing
charges in accordance with such Issuing Lender’s standard schedule for
such charges in effect at the time of such issuance, amendment, transfer
or drawing, as the case may be.

Promptly upon receipt by the Administrative Agent of any amount described in
clause (i)(b) of this subsection 3.2, the Administrative Agent shall distribute
to each Issuing Bank and each other Lender having Revolving Loan Exposure its
Pro Rata Share of such amount.

	3.3	 	Drawings and Payments and Reimbursement of Amounts Drawn or Paid Under Letters of Credit.

     A. Responsibility of Issuing Bank with Respect to Requests for Drawings
and Payments. In determining whether to honor any drawing or request for
payment under any Letter of Credit by the beneficiary thereof, the Issuing Bank
shall be responsible only to determine that the documents and certificates
required to be delivered under such Letter of Credit have been delivered and
that they comply on their face with the requirements of such Letter of Credit.

     B. Reimbursement by the Company of Amounts Drawn or Paid Under Letters of
Credit. In the event an Issuing Bank has determined to honor a drawing or
request for payment under a Letter of Credit issued by it, the Issuing Bank
shall immediately notify the Company and the Administrative Agent, and the
Company shall reimburse such Issuing Bank on or before the Business Day
immediately following the date on which such drawing is honored or such payment
is made (the applicable “Reimbursement Date”) in an amount in same day funds
equal to the amount of such honored drawing; provided that, anything contained
in this Agreement to the contrary notwithstanding, (i) unless the Company shall
have notified the Administrative Agent and the Issuing Bank prior to 1:00 p.m.
(New York time) on the date of such honored drawing or request for payment that
the Company intends to reimburse such Issuing Bank for the amount of such
honored drawing or payment with funds other than the proceeds of Revolving
Loans, the Company shall be deemed to have given a timely Notice of Borrowing
to the Administrative Agent requesting the Lenders to make Revolving Loans
which are Base Rate Loans on the applicable Reimbursement Date in an amount
equal to the amount of such honored drawing or payment and (ii) subject to
satisfaction or waiver of the conditions specified in subsection 4.2B, the
Lenders shall, on the applicable Reimbursement Date, make Revolving Loans in
the amount of such honored drawing or payment, the proceeds of which shall be
applied directly by the Administrative Agent to reimburse the Issuing Bank for
the amount of such honored drawing or payment; provided further that if for any
reason proceeds of Revolving Loans are not received by the Issuing Bank on the
applicable Reimbursement Date in an amount equal to the amount of such honored
drawing or payment, the Company shall reimburse the Issuing Bank, on demand, in
an amount in same day funds equal to the excess of the amount of such honored
drawing or payment over the aggregate amount of such Revolving Loans, if any,
which are so received. Nothing in this subsection 3.3B shall be deemed to
relieve any Lender from its obligation to make Revolving Loans on the terms and
conditions set forth in this Agreement, and the Company shall retain any and
all rights it may have against any Lender resulting from the failure of such
Lender to make such Revolving Loans under this subsection 3.3B.

     C. Payment by Lenders of Unreimbursed Drawings or Payments Under Letters
of Credit.

     (i) Payment by Lenders. In the event that the Company shall fail for any
reason to reimburse any Issuing Bank as provided in subsection 3.3B in an
amount equal to the amount of any honored drawing or payment made by such
Issuing Bank under a Letter of Credit issued by it, such Issuing Bank shall
promptly notify the Administrative Agent who shall then notify each other
Lender of the unreimbursed amount of such honored drawing or payment and of
such other Lender’s respective participation therein based on such Lender’s Pro
Rata Share of the Revolving Loan Commitments. Each Lender shall make available
to such Issuing Bank an amount equal to its respective participation, in same
day funds, at the office of the Administrative Agent, not later than 2:00 p.m.
(New York time) on the first business day (under the laws of the jurisdiction
in which such office of the Administrative Agent is located) after the date
notified by the Administrative Agent for such Issuing Bank. In the event that
any

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Lender fails to make available to such Issuing Bank on such business day
the amount of such Lender’s participation in such Letter of Credit as provided
in this subsection 3.3C, such Issuing Bank shall be entitled to recover such
amount on demand from such Lender together with interest thereon at the rate
customarily used by such Issuing Bank for the correction of errors among banks
for three Business Days and thereafter at the Base Rate. Nothing in this
subsection 3.3C shall be deemed to prejudice the right of any Lender to recover
from any Issuing Bank any amounts made available by such Lender to such Issuing
Bank pursuant to this subsection 3.3C in the event that it is determined by the
final judgment of a court of competent jurisdiction that the payment with
respect to a Letter of Credit by such Issuing Bank in respect of which payment
was made by such Lender constituted gross negligence or willful misconduct on
the part of such Issuing Bank

     (ii) Distribution to Lenders of Reimbursements Received from the Company.
In the event any Issuing Bank shall have been reimbursed by other Lenders
pursuant to subsection 3.3C(i) for all or any portion of any honored drawing or
payment made by such Issuing Bank under a Letter of Credit issued by it, such
Issuing Bank shall distribute to each other Lender which has paid all amounts
payable by it under subsection 3.3C(i) with respect to such honored drawing or
payment such other Lender’s Pro Rata Share of all payments subsequently
received by such Issuing Bank from the Company in reimbursement of such honored
drawing or payment when such payments are received. Any such distribution
shall be made to a Lender at its primary address set forth below its name on
the appropriate signature page hereof or at such other address as such Lender
may request.

	 	D.	 	Interest on Amounts Drawn or Paid Under Letters of Credit.

     (i) Payment of Interest by the Company. The Company agrees to pay to each
Issuing Bank, with respect to drawings or payments made under any Letters of
Credit issued by it, interest on the amount paid by such Issuing Bank in
respect of each such drawing or payment from the date such drawing is honored
or payment is made to but excluding the date such amount is reimbursed by the
Company (including any such reimbursement out of the proceeds of Revolving
Loans pursuant to subsection 3.3B) at a rate equal to (a) for the period from
the date such drawing is honored or payment is made to but excluding the
applicable Reimbursement Date, the Base Rate plus the Applicable Base Rate
Margin with respect to Revolving Loans, and (b) thereafter, a rate which is 2%
per annum in excess of the rate of interest described in the foregoing clause
(a). Interest payable pursuant to this subsection 3.3D(i) shall be computed on
the basis of a 360-day year for the actual number of days elapsed in the period
during which it accrues and shall be payable on demand or, if no demand is
made, on the date on which the related drawing or payment under a Letter of
Credit is reimbursed in full.

     (ii) Distribution of Interest Payments by Issuing Bank. Promptly upon
receipt by any Issuing Bank of any payment of interest pursuant to subsection
3.3D(i), (a) such Issuing Bank shall distribute to each other Lender, out of
the interest received by such Issuing Bank in respect of the period from the
date of the applicable honored drawing or payment under a Letter of Credit
issued by such Issuing Bank to but excluding the date on which such Issuing
Bank is reimbursed for the amount of such drawing or payment (including any
such reimbursement out of the proceeds of Revolving Loans pursuant to
subsection 3.3B), the amount that such other Lender would have been entitled to
receive in respect of the Letter of Credit fee that would have been payable in
respect of such Letter of Credit for such period pursuant to subsection 3.2 if
no drawing had been honored or payment had been made under such Letter of
Credit, and (b) in the event such Issuing Bank shall have been reimbursed by
other Lenders pursuant to subsection 3.3C(i) for all or any portion of such
drawing or payment, such Issuing Bank shall distribute to each other Lender
which has paid all amounts payable by it under subsection 3.3C(i) with respect
to such drawing or payment such other Lender’s Pro Rata Share of any interest
received by such Issuing Bank in respect of that portion of such drawing or
payment so reimbursed by other Lenders for the period from the date on which
such Issuing Bank was so reimbursed by other Lenders to and including the date
on which such portion of such drawing or payment is reimbursed by the Company.

	3.4	 	Obligations Absolute.

     The obligation of the Company to reimburse each Issuing Bank for drawings
honored or payments made under the Letters of Credit issued by it and to repay
any Revolving Loans made by the Lenders pursuant to subsection 3.3B and the
obligations of the Lenders under subsection 3.3C(i) shall be unconditional and
irrevocable and shall be paid strictly in accordance with the terms of this
Agreement under all circumstances including, without limitation, the following
circumstances:

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          (i) any lack of validity or enforceability of any Letter of Credit:

          (ii) the existence of any claim, set-off, defense or other right
which the Company or any Lender may have at any time against a
beneficiary or any transferee of any Letter of Credit (or any Persons for
whom any such transferee may be acting), any Issuing Bank or other Lender
or any other Person or, in the case of a Lender, against the Company
whether in connection with this Agreement, the transactions contemplated
herein or any unrelated transaction (including any underlying transaction
between the Company or one of its Subsidiaries and the beneficiary for
which any Letter of Credit was procured);

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

          (iv) payment by the applicable Issuing Bank under any Letter of
Credit against presentation of a demand, draft or certificate or other
document which appears to substantially comply with the terms of such
Letter of Credit;

          (v) any adverse change in the business, operations, properties,
assets, condition (financial or otherwise) or prospects of the Company or
any of its Subsidiaries;

          (vi) any breach of this Agreement or any other Loan Document by any
party thereto;

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

          (viii) the fact that Default or Event of Default shall have occurred
and be continuing;

provided, in each case, that payment by the applicable Issuing Bank under the
applicable Letter of Credit shall not have constituted gross negligence or
willful misconduct of such Issuing Bank under the circumstances in question (as
determined by a final judgment of a court of competent jurisdiction).

	3.5	 	Nature of Issuing Bank’s Duties.

     As between the Company and any Issuing Bank, the Company assumes all risks
of the acts and omissions of, or misuse of the Letters of Credit issued by such
Issuing Bank by, the respective beneficiaries of such Letters of Credit. In
furtherance and not in limitation of the foregoing, such Issuing Bank shall not
be responsible for: (i) the form, validity, sufficiency, accuracy, genuineness
or legal effect of any document submitted by any party in connection with the
application for and issuance of any such Letter of Credit, even if it should in
fact prove to be in any or all respects invalid, insufficient, inaccurate,
fraudulent or forged; (ii) the validity or sufficiency of any instrument
transferring or assigning or purporting to transfer or assign any such Letter
of Credit or the rights or benefits thereunder or proceeds thereof, in whole or
in part, which may prove to be invalid or ineffective for any reason; (iii)
failure of the beneficiary of any such Letter of Credit to comply fully with
any conditions required in order to draw upon such Letter of Credit; (iv)
errors, omissions, interruptions or delays in transmission or delivery of any
messages, by mail, cable, telegraph, telex or otherwise, whether or not they be
in cipher; (v) errors in interpretation of technical terms; (vi) any loss or
delay in the transmission or otherwise of any document required in order to
make a drawing under any such Letter of Credit or of the proceeds thereof;
(vii) the misapplication by the beneficiary of any such Letter of Credit of the
proceeds of any drawing or payment under such Letter of Credit; or (viii) any
consequences arising from causes beyond the control of such Issuing Bank,
including without limitation any governmental acts, and none of the above shall
affect or impair, or prevent the vesting of, any of such Issuing Bank’s rights
or powers hereunder.

     In furtherance and extension and not in limitation of the specific
provisions set forth in the first paragraph of this subsection 3.5, any action
taken or omitted by any Issuing Bank under or in connection with the Letters of
Credit issued by it or any documents and certificates delivered thereunder, if
taken or omitted in good faith, shall not put such Issuing Bank under any
resulting liability to the Company.

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     Notwithstanding anything to the contrary contained in this subsection 3.5,
the Company shall retain any and all rights it may have against any Issuing
Bank for any liability arising solely out of the gross negligence or willful
misconduct of such Issuing Bank, as determined by a final judgment of a court
of competent jurisdiction.

SECTION 4.

CONDITIONS TO EFFECTIVENESS

	4.1	 	Conditions to Effectiveness.

     The effectiveness of this Agreement, and the obligations of the Lenders on
and after the Closing Date to make Loans and of the Issuing Bank to issue
Letters of Credit are subject to the satisfaction of the following conditions.

     A. Company Documents. On or before the Closing Date, the Company shall
deliver or cause to be delivered to the Administrative Agent for the Lenders
the following, each, unless otherwise noted, dated the Closing Date:

          (i) Certified copies of its Certificate of Incorporation, together
with a good standing certificate from the Secretary of State of the State
of Delaware, and each state in which any of its Real Property Assets are
located, each dated a recent date prior to the Closing Date;

          (ii) Copies of its Bylaws, certified as of the Closing Date by its
corporate secretary or an assistant secretary;

          (iii) Resolutions of its Board of Directors approving and
authorizing the execution, delivery and performance of this Agreement and
the other Transaction Documents to which it is a party or by which it or
its assets may be bound as of the Closing Date, certified as of the
Closing Date by its corporate secretary or an assistant secretary as
being in full force and effect without modification or amendment;

          (iv) Incumbency certificates of its officers executing this
Agreement and the other Transaction Documents to which it is a party as
of the Closing Date;

          (v) Executed originals of this Agreement and the other Loan
Documents to which it is a party; and

          (vi) Certified copies of each of the other Transaction Documents to
which it is a party.

     B. Subsidiary Documents. On or before the Closing Date, the Company shall
deliver or cause to be delivered to the Administrative Agent for the Lenders
the following for each Subsidiary of the Company that is a Loan Party (which
may be waived by the Administrative Agent for any Subsidiary with respect to
the items described in clause (i) below), each, unless otherwise noted, dated
the Closing Date:

          (i) Certified copies of the Organizational Certificate, together
with a good standing certificate from the applicable Governmental
Authority of its jurisdiction of incorporation, organization or
formation, and each state in which a Real Property Asset of such
Subsidiary is located, each dated a recent date prior to the Closing
Date;

          (ii) Copies of the Organizational Documents of such Subsidiary,
certified as of the Closing Date by its corporate secretary or an
assistant secretary;

          (iii) Copies of the Organizational Authorizations of such Subsidiary
approving and authorizing the execution, delivery and performance of the
Transaction Documents to which such Subsidiary is party that are to be
delivered on the Closing Date, certified as of the Closing Date by its
corporate secretary or an assistant secretary as being in full force and
effect without modification or amendment;

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          (iv) Incumbency certificates of its officers executing the
Subsidiary Guaranty and the other Transaction Documents to which such
Subsidiary is party;

          (v) Executed originals of the other Loan Documents to which such
Subsidiary is party that are to be delivered on the Closing Date; and

          (vi) Certified copies of each of the other Transaction Documents to
which such Subsidiary is a party.

	 	C.	 	Consummation of Transactions.

     (i) (a) Each of the Transaction Documents shall be in form and substance
reasonably satisfactory to the Agents and each such Transaction Document shall
have been duly executed and delivered by each party thereto and shall be in
full force and effect; and (b) all other conditions set forth in the
Transaction Documents shall have been satisfied or the fulfillment of any such
conditions shall have been waived with the written consent of the
Administrative Agent;

     (ii) not less than $100,000,000 shall have been borrowed by the Company
pursuant to the Second Lien Credit Agreement;

     (iii) the Company shall have redeemed a portion of the outstanding
Subordinated Notes in an aggregate principal amount of up to $25,0000,000;

     (iv) the Obligations of the Existing Lenders under the Existing Credit
Facilities shall have been repaid in full and all Liens granted thereunder
shall have been terminated and released;

     (v) each of the other Transactions shall have been effected and
consummated to the reasonable satisfaction of the Agents; and

     (vi) after giving effect to the Transactions and the other transactions
contemplated hereby, the Company and its subsidiaries shall have no
Indebtedness or preferred stock other than (a) the Loans and other extensions
of credit under this Agreement, (b) existing Indebtedness (other than amounts
repaid as part of the Transactions) listed on Schedule 7.1, (c) other
Indebtedness permitted under subsection 7.1 and (d) the Preferred Stock.

     D. Lender Signatures. The following Persons shall have executed and
delivered this Agreement:

          (i) the Term Loan Lenders and Lenders providing the Revolving
Commitments:

          (ii) the Swing Line Lender and the Issuing Bank, and

          (iii) the Agents.

     E. Necessary Consents. The Company shall have obtained all consents of
Governmental Authorities and other Persons necessary or advisable in connection
with the Transactions and the continued operation of the business conducted by
the Company and its Subsidiaries, and each of the foregoing shall be in full
force and effect and in form and substance reasonably satisfactory to the
Agents.

     F. Perfection of Security Interests. The Company shall have taken or
caused to be taken such actions in such a manner so that the Collateral Agent
has a valid and perfected First Priority security interest in the Collateral of
each Loan Party in which a security interest can be granted and perfected under
the UCC’or other Applicable Law to the extent required by the Security
Agreement. Such actions shall include, without limitation: (i) the delivery
pursuant to the applicable Collateral Documents of (a) such certificates or
other instruments (each of which shall be registered in the name of the
Collateral Agent or properly endorsed in blank for transfer or accompanied by
irrevocable undated stock or equivalent powers duly endorsed in blank, all in
form and substance reasonably satisfactory to the Collateral Agent)
representing all of the shares or other interests of Capital Stock required to
be

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pledged pursuant to the Collateral Documents identified on Schedule 4.1F,
and (b) all promissory notes or other instruments (duly endorsed, where
appropriate, in a manner reasonably satisfactory to the Collateral Agent)
evidencing any Collateral; (ii) the delivery to the Collateral Agent of (a) the
results of a recent search, by a Person reasonably satisfactory to the
Collateral Agent, of all effective UCC financing statements and fixture filings
and all judgment and tax lien filings which may have been made with respect to
any personal or mixed property of any Loan Party, together with copies of all
such filings disclosed by such search and (b) UCC financing statements the
recordation of which has been authorized by the applicable Loan Parties as to
all such Collateral granted by such Loan Parties for all jurisdictions as may
be necessary or desirable to perfect Collateral Agent’s security interest in
such Collateral; and (iii) the delivery to the Collateral Agent of evidence
reasonably satisfactory to the Collateral Agent that all other filings
(including, without limitation, UCC termination statements and releases and
filings with the PTO and the United States Copyright Office with respect to
Intellectual Property of the Loan Parties), recordings and other actions the
Collateral Agent deems necessary or advisable to establish, preserve and
perfect the First Priority Liens granted to the Collateral Agent in Collateral
constituting personal (both tangible and intangible) and mixed property shall
have been made.

     G. Real Property. The Administrative Agent and the Collateral Agent shall
have received on or prior to the Closing Date from the Company and each
applicable Subsidiary Guarantor unless waived by the Administrative Agent:

          (i) Closing Date Mortgages. Fully executed and notarized Mortgages,
together with any amendments or modifications thereto deemed necessary by
the Collateral Agent in connection with the execution and delivery of
this Agreement, the other Loan Documents and the transactions
contemplated hereby and thereby (each, a “Closing Date Mortgage” and,
collectively, the “Closing Date Mortgages”), in proper form for recording
in all appropriate places in all applicable jurisdictions, encumbering
each fee-owned Real Property Asset listed in Schedule 4.1G (each, a
“Closing Date Mortgaged Property” and, collectively, the “Closing Date
Mortgaged Properties”) in each case in form and substance reasonably
satisfactory to the Collateral Agent;

          (ii) Opinions of Local Counsel. An opinion of counsel (which
counsel shall be reasonably satisfactory to the Collateral Agent) with
respect to the enforceability of the form(s) of Closing Date Mortgages to
be recorded in those states listed on Schedule 4.1 G and such other
related matters as Administrative Agent may reasonably request, in each
case in form and substance reasonably satisfactory to the Collateral
Agent;

          (iii) Title Insurance. ALTA standard form mortgagee title insurance
policies or unconditional commitments therefor (the “Closing Date
Mortgage Policies,”) issued by the Title Company with respect to the
Closing Date Mortgaged Properties listed in Schedule 4.1G, in amounts not
less than the respective amounts designated on such Schedule with respect
to any particular Closing Date Mortgaged Property, insuring fee simple
title to each such Closing Date Mortgaged Property vested in such Loan
Party and insuring the Collateral Agent that the applicable Closing Date
Mortgages create valid and enforceable First Priority mortgage Liens on
the respective Closing Date Mortgaged Properties encumbered thereby,
subject only to (A) a standard survey exception limited to matters
occurring after the date of the most recent survey and (B) Permitted
Liens, which Closing Date Mortgage Policies (1) shall include, to the
extent available in each jurisdiction in which the Mortgaged Property is
located, an endorsement for mechanics’ liens (or a deletion of the
standard pre-printed mechanics’ lien exception), for future advances
under this Agreement and for any other matters reasonably requested by
the Collateral Agent and (2) shall provide for affirmative insurance and
such reinsurance as the Collateral Agent may reasonably request, all of
the foregoing in form and substance reasonably satisfactory to the
Collateral Agent; and (b) evidence satisfactory to the Collateral Agent
that such Loan Party has (i) delivered to the Title Company all
certificates and affidavits reasonably required by the Title Company in
connection with the issuance of the Closing Date Mortgage Policies and
(ii) paid to the Title Company or to the appropriate governmental
authorities all expenses and premiums of the Title Company and all other
sums required in connection with the issuance of the Closing Date
Mortgage Policies and all recording and stamp taxes (including mortgage
recording and intangible taxes) payable in connection with recording the
Closing Date Mortgages in the appropriate real estate records;

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          (iv) Copies of Documents Relating to Title Exceptions. Copies of
all recorded documents listed as exceptions to title or otherwise
referred to in the Closing Date Mortgage Policies or in the title reports
delivered pursuant to clause (iii) above; and

          (v) Matters Relating to Flood Hazard Properties. (a) Evidence,
which may be in the form of a certification from a nationally recognized
flood search damage company, a letter from an insurance broker or a
municipal engineer or a notation on a survey of the Mortgaged Property
dated not more than three (3) years prior to the Closing Date issued by a
surveyor licensed in the jurisdiction in which the Mortgaged Property is
located, as to whether (1) any Closing Date Mortgaged Property is a Flood
Hazard Property and (2) the community in which any such Flood Hazard
Property is located is participating in the National Flood Insurance
Program, (b) if there are any such Flood Hazard Properties, such Loan
Party’s written acknowledgment of receipt of written notification from
Collateral Agent (1) as to the existence of each such Flood Hazard
Property and (2) as to whether the community in which each such Flood
Hazard Property is located is participating in the National Flood
Insurance Program, and (c) in the event any such Flood Hazard Property is
located in a community that participates in the National Flood Insurance
Program, evidence that the Company has obtained flood insurance in
respect of such Flood Hazard Property to the extent required under the
applicable regulations of the Board of Governors of the Federal Reserve
System.

     H. Financial Condition Certificate. The Company shall have delivered to
the Administrative Agent a certificate from the chief financial officer of the
Company, substantially in the form of Exhibit X.

     I. Transaction Costs, Fees and Expenses. On or prior to the Closing Date,
the Company shall have paid (i) to the Administrative Agent any and all fees
and reasonable expenses of the Agents that is then due and owing or accrued and
not yet paid under or in connection with this Agreement or any of the
documents, instrument or agreements executed in connection therewith and (ii)
to the appropriate Persons, any and all outstanding reasonable and documented
out-of-pocket fees and expenses (including legal advisors) and other costs
incurred by the Agents through the Closing Date in connection with the
negotiation, drafting and execution of the Transaction Documents. On or prior
to the Closing Date, the Company shall have delivered to the Administrative
Agent a schedule, in a form reasonably satisfactory to the Administrative
Agent, setting forth the Company’s reasonable estimate of the Transaction Costs
(other than fees payable to any of the Agents) and such estimate (together with
all fees payable to the Agents) shall not exceed $8,000,000.

     J. Opinions of Loan Parties’ Counsel. The Administrative Agent and its
counsel shall have received the written opinion of Cahill Gordon & Reindel LLP,
special counsel for the Loan Parties, in form and substance reasonably
satisfactory to the Administrative Agent and its counsel, dated as of the
Closing Date and setting forth substantially the matters set forth in Exhibit
IX.

     K. Financial Conditions.

     (i) The Company’s Pro Forma EBITDA for the four-Fiscal Quarter period
ended December 31, 2003 shall not be less than $45,000,000.

     (ii) The Company’s ratio of Senior Secured Debt on the Closing Date to Pro
Forma EBITDA shall be no more than 4.5:1.0 and (ii) that the Company’s ratio of
Funded Debt on the Closing Date to Pro Forma EBITDA shall be no more than
6.6:1.0.

     L. Credit Ratings. The Loans shall have been assigned a credit rating by
S&P and by Moody’s.

     M. Financial Information. On or before the Closing Date, the
Administrative Agent and the Lenders shall have received from the Company (i)
such budgets and other cash flow and financial information and projections
described in subsection 5.3 as the Administrative Agent may reasonably request,
all in form and substance reasonably satisfactory to the Agents, and (ii) a
detailed business plan of the Company and its subsidiaries for the years 2004
through 2008 and for the quarters beginning with the first Fiscal Quarter of
2004 and through the last Fiscal Quarter of 2004, in form and substance
reasonably satisfactory to the Administrative Agent.

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     N. Insurance Appraisal; Evidence of Insurance. The Administrative Agent
shall have received copies of certificates of insurance with respect to each of
the insurance policies required pursuant to subsection 6.4, and the
Administrative Agent shall be reasonably satisfied with the nature and scope of
these insurance policies.

     O. Environmental. The Administrative Agent shall be reasonably satisfied
of the amount and nature of any claims and liabilities under any Environmental
Laws and the plans of each Loan Party with respect thereto.

     P. No Material Adverse Effect. Since December 31, 2002, there shall not
have occurred any event, change, or condition that has had, or could reasonably
be expected to have, a material adverse effect on the business, assets,
operations, condition (financial or otherwise) or prospects of the Company and
its Subsidiaries, taken as a whole.

     Q. Corporate and Capital Structure, Ownership, Management, Etc.

          (i) Corporate Structure. The corporate organizational structure of the
Company and its Subsidiaries shall be as set forth on Schedule 4.1Q.

          (ii) Capital Structure and Ownership. The capital structure and ownership
of the Company shall be as set forth on Schedule 4.1Q.

     R. Representations and Warranties; Performance of Agreements. The Company
shall have delivered to the Administrative Agent an Officer’s Certificate, in
form and substance reasonably satisfactory to the Agents, to the effect that
the representations and warranties in subsection 5 are true and correct in all
material respects on and as of the Closing Date and both before and after
giving effect to the Transactions, to the same extent as though made on and as
of that date and that the Company has performed in all material respects all
agreements and satisfied all conditions which this Agreement provides shall be
performed or satisfied by it on or before the Closing Date.

     S. No Litigation. There shall be no litigation or administrative
proceedings, actual or threatened in writing, that, individually or in the
aggregate, would reasonably be expected to have a Material Adverse Effect or
that has a reasonable likelihood of restraining, preventing or imposing
materially burdensome conditions on the Transactions.

     T. Intercreditor Agreement. The Intercreditor Agreement shall have been
executed by the parties thereto.

     U. Completion of Proceedings. All partnership, corporate and other
proceedings taken or to be taken in connection with the transactions
contemplated hereby and all documents incidental thereto not previously found
acceptable by Administrative Agent shall be satisfactory in form and substance
to Administrative Agent, and Administrative Agent shall have received all such
counterpart originals or certified copies of such documents as Administrative
Agent may reasonably request. Each Lender, by delivering its signature page to
this Agreement, shall be deemed to have acknowledged receipt of, and consented
to and approved, each Loan Document and each other document required to be
approved by any Agent, Requisite Lenders or Lenders, as applicable, on or prior
to the Closing Date.

     V. Money Laundering. The Lenders shall have received all documentation
and other information required by bank regulatory authorities from the Company
under applicable “know your customer” and anti-money laundering rules and
regulations, including without limitation the U.S.A. PATRIOT Act.

	4.2	 	Conditions to All Loans.

     The obligations of the Lenders to make Loans on each Funding Date are
subject to the following further conditions precedent:

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     A. The Administrative Agent shall have received before that Funding Date,
in accordance with the provisions of subsection 2.1B, an originally executed
Notice of Borrowing, in each case signed by a Responsible Officer of the
Company.

     B. As of that Funding Date:

          (i) The representations and warranties contained herein and in the
other Loan Documents shall be true and correct in all material respects
on and as of that Funding Date to the same extent as though made on and
as of that date, except to the extent such representations and warranties
specifically relate to an earlier date, in which case such
representations and warranties shall have been true and correct in all
material respects on and as of such earlier date; and

          (ii) No event shall have occurred and be continuing or would result
from the consummation of the borrowing contemplated by such Notice of
Borrowing that would constitute a Default or Event of Default.

	4.3	 	Conditions to Letters of Credit.

     The issuance of any Letter of Credit hereunder (whether or not the
applicable Issuing Bank is obligated to issue such Letter of Credit) is subject
to the satisfaction of the conditions set forth in subsection 4.1 and the
satisfaction of the following additional conditions precedent:

     A. On or before the date of issuance of such Letter of Credit, the Issuing
Bank and the Administrative Agent shall have received, in accordance with the
provisions of subsection 3.1B(i), an originally executed Notice of Issuance of
Letter of Credit, signed by the chief executive officer or the chief financial
officer or by any executive officer of the Company designated by any of the
above-described officers on behalf of the Company and the Company in a writing
delivered to the Administrative Agent, together with all other information
specified in subsection 3.1B(i) and such other documents or information as the
applicable Issuing Bank may reasonably require in connection with the issuance
of such Letter of Credit.

     B. On the date of issuance of such Letter of Credit, all conditions
precedent described in subsection 4.2B shall be satisfied to the same extent as
if the issuance of such Letter of Credit were the making of a Loan and the date
of issuance of such Letter of Credit were a Funding Date.

SECTION 5.

REPRESENTATIONS AND WARRANTIES

     In order to induce the Lenders to enter into this Agreement and to make
the Loans, to induce the Issuing Banks to issue Letters of Credit and to induce
the other Lenders to purchase participations therein, the Company represents
and warrants to each Lender and Issuing Bank, on the date of this Agreement, on
the Closing Date, on each Funding Date, and on the date of issuance of each
Letter of Credit, that the following statements are true and correct (except to
the extent such statements relate to any earlier date, in which case they were
true and correct on such date).

	5.1	 	Organization, Powers, Qualification, Good Standing, Business and Subsidiaries.

     A. Organization and Powers. Each Loan Party that is a corporation is duly
organized, validly existing and in good standing under the laws of their
respective states of organization. Each Loan Party that is a partnership or
limited liability company is a duly organized and validly existing limited
partnership or limited liability company under the laws of its jurisdiction of
formation and is in good standing in such jurisdiction. Each Loan Party has
all requisite corporate, partnership or limited liability company (as
applicable) power and authority to own and operate their respective properties
and to carry on their respective business as now conducted and as proposed to
be conducted, and each Loan Party has all requisite corporate, partnership or
limited liability company (as applicable) power and authority to enter into the
Loan Documents, to carry out the transactions contemplated thereby and,

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in the case of the Company, to issue and pay the Notes and pay the
obligations incurred under the Second Lien Credit Agreement.

     B. Qualification and Good Standing. Each Loan Party is qualified or
authorized to do business and is in good standing in every jurisdiction where
its assets are located and wherever necessary to carry out its businesses and
operations, except in jurisdictions where the failure to be so qualified or in
good standing has not had and would not reasonably be expected to have a
Material Adverse Effect.

     C. Conduct of Business. The Company and the Company’s Subsidiaries are
engaged only in the businesses permitted to be engaged in pursuant to
subsection 7.4.

     D. Company and Subsidiaries. All of the Subsidiaries of the Company as of
the Closing Date are identified in Schedule 4.1Q, as it may be supplemented
from time to time in accordance with the provisions of subsection 6.9. As of
the Closing Date, the Capital Stock or other equity interests of the Company
and each of the Subsidiaries identified in Schedule 4.1Q is duly authorized,
validly issued, fully paid and nonassessable and none of such Capital Stock or
other equity interests constitutes Margin Stock. Schedule 4.1Q correctly sets
forth, as of the Closing Date, the ownership interest of the Company in each of
its Subsidiaries identified therein and all Capital Stock and other equity
interest in the Company owned by others and there are no other warrants,
options or other rights to acquire any such Capital Stock or equity interests
of the Company. As of the Closing Date, except as set forth on Schedule 5.1D,
there are no registration rights, shareholder, voting rights and similar
agreements requiring the Company to register securities under the Securities
Act or governing voting and other rights of shareholders of the Company, in
each case to which the Company is a party.

	5.2	 	Authorization, etc.

     A. Authorization of Borrowing. The execution, delivery and performance of
the Transaction Documents and the issuance, delivery and payment of the Notes
have been duly authorized by all necessary corporate and/or partnership (as
applicable) action on the part of each of the Loan Parties party thereto.

     B. No Conflict. After giving effect to the Transactions and the
execution, delivery and performance by each of the applicable Loan Parties of
the Transaction Documents, the issuance, delivery and payment of the Notes and
the consummation of the Transactions, do not and will not (i) violate any
provision of any law or any governmental rule or regulation applicable to any
Loan Party, except to the extent such violation would not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect, or
violate the Organizational Certificate or any other Organizational Documents of
any Loan Party or any order, judgment or decree of any court or other agency of
government binding on any Loan Party, (ii) conflict with, result in a breach of
or constitute (with due notice or lapse of time or both) a default under any
Contractual Obligation of any Loan Party except to the extent such conflict,
breach or default would not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect, (iii) result in or require the
creation or imposition of any Lien upon any of the properties or assets of any
Loan Party (other than any Liens created under any of the Loan Documents in
favor of the Collateral Agent and the Liens securing obligations under the
Second Lien Credit Agreement that constitute Permitted Liens), (iv) require any
approval of stockholders, partners or members or any approval or consent of any
Person under any Contractual Obligation of any Loan Party, except for such
approvals or consents obtained on or before the Closing Date and have been
disclosed in writing to the Lenders and except where the failure to obtain such
approvals or consents would not, individually or in the aggregate. reasonably
be expected to have a Material Adverse Effect or (v) give rise to any
preemptive rights, rights of first refusal or other similar rights on behalf of
any Person under any Applicable Law or any provision of the Organizational
Documents of any Loan Party or any Material Contract to which any Loan Party is
a party or by which any Loan Party is bound.

     C. Governmental Consents. The execution, delivery and performance by the
Loan Parties of the Transaction Documents, the issuance, delivery and payment
of the Notes and the consummation of the transactions contemplated by the
Transaction Documents do not and will not require any registration with,
consent or approval of, or notice, declaration, filing or other action to, with
or by, any federal, state or other governmental authority or regulatory body
except to the extent obtained on or before the Closing Date other than the
filing of UCC financing statements and Mortgages delivered to the Collateral
Agent for filing but not yet filed, and the periodic filing of UCC continuation
statements in respect of UCC financing statements filed by or on behalf of the
Collateral Agent.

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     D. Binding Obligation. Each of the Transaction Documents has been duly
executed and delivered by each of the Loan Parties party thereto and is the
legally valid and binding obligation of each such Loan Party, enforceable
against such Loan Party in accordance with its respective terms, except as may
be limited by bankruptcy, insolvency, reorganization, moratorium or similar
laws relating to or limiting creditors’ rights generally or by equitable
principles relating to enforceability.

     E. Collateral Documents. The security interests created in favor of the
Collateral Agent under the Collateral Documents will at all times from and
after the Closing Date (until such security interests are released) constitute,
as security for the obligations purported to be secured thereby, a legal, valid
and enforceable security interest in and perfected First Priority Lien on all
of the Collateral referred to therein in favor of the Collateral Agent for the
benefit of the Lenders to the extent such security interest can be perfected
under the UCC and other Applicable Law. Each Loan Party has good title to its
respective Collateral. No consents, filings or recordings are required in
order to perfect (or maintain the perfection or priority of) the security
interests purported to be created by any of the Collateral Documents, other
than such as have been obtained and which remain in full force and effect and
other than the filing of UCC financing statements and Mortgages delivered to
the Collateral Agent for filing but not yet filed, and the periodic filing of
UCC continuation statements in respect of UCC financing statements filed by or
on behalf of the Collateral Agent.

     F. Absence of Third-Party Filings. On the Closing Date, except such as
may have been filed in favor of the Second Lien Collateral Agent as
contemplated by subsection 5.2E and except as set forth on Schedule 7.2, (i) to
the knowledge of the Company, no effective UCC financing statement, fixture
filing or other instrument similar in effect covering all or any part of the
Collateral is on file in any filing or recording office and (ii) no effective
filing covering all or any part of the IP Collateral is on file with the PTO.

     G. Margin Regulations. Neither the making of the Loans nor the pledge of
the Collateral pursuant to the Collateral Documents violates Regulation T,
Regulation U or Regulation X of the Board of Governors of the Federal Reserve
System.

	5.3	 	Financial Condition; Projections.

     A. Financial Statements. The Company has heretofore delivered to the
Administrative Agent on behalf of the Lenders, at the Lenders’ request, (i) the
quarterly unaudited consolidated balance sheet of the Company and its
Subsidiaries as of December 31, 2003, together with related consolidated
statements of income and cash flows for the Fiscal Quarter then ended, (ii) the
pro forma consolidated balance sheet and related pro forma consolidated
statements of income and cash flows of the Company as of and for the
twelve-month period ending December 31, 2003, prepared after giving effect to
the Transactions as if the Transactions had occurred as of such date (in the
case of such balance sheet) or at the beginning of such period (in the case of
such other financial statements), and (iii) audited annual consolidated balance
sheets and statements of income and cash flows of the Company and its
Subsidiaries for Fiscal Years 2002, 2001 and 2000. All such statements were
prepared in conformity with GAAP and fairly present, in all material respects,
the financial position (on a consolidated basis) of the Company as at the
respective dates thereof and the results of operations and cash flows (on a
consolidated basis) of the Company for each of the periods then ended, subject,
in the case of any such unaudited financial statements, to changes resulting
from audit and normal year-end adjustments and the absence of footnote
disclosure required in accordance with GAAP. Neither the Company nor any of
its Subsidiaries has any Guaranty Obligation, contingent liability or liability
for taxes, long-term lease or unusual forward or long-term commitment that is
not reflected in the financial statements referred to in the preceding clauses
of this subsection, the most recent financial statements delivered pursuant to
subsection 6.1 or the notes thereto and which in any such case would be
required by GAAP to be so reflected and is material in relation to the
business, assets, operations, condition (financial or otherwise) or prospects
of the Company and its Subsidiaries, taken as a whole.

     B. Projections. On and as of the Closing Date, the projections of the
Company and its Subsidiaries for the period from the Closing Date through
December 31, 2008 previously delivered to the Administrative Agent and all
other projections and all financial information prepared on a Pro Forma Basis
(the “Projections”) were prepared in good faith based upon assumptions believed
to be reasonable at the time made and as of the Closing Date, it being
recognized, however, that projections as to future events are not to be viewed
as facts and that the actual re-

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sults during the period or periods covered by the Projections may differ
from the projected results and that the differences may be material.

	5.4	 	No Material Adverse Change; No Restricted Payments.

     Since December 31, 2002, no event or change has occurred that has had or
could reasonably be expected to have, either individually or in the aggregate,
a Material Adverse Effect. Except for the Transactions and as permitted under
subsection 7.5 and as set forth on Schedule 5.4, since December 31, 2002,
neither the Company nor any of its Subsidiaries has directly or indirectly
declared, ordered, paid or made, or set apart any sum or property for, any
Restricted Payment or agreed to do so.

	5.5	 	Title to Properties; Liens; Real Property; Intellectual Property.

     A. Title to Properties; Liens. The Loan Parties have good and insurable
fee simple title to or a valid leasehold interest in all of their Real Property
Assets reflected in the financial statements referred to in subsection 5.3 or
in the most recent financial statements delivered pursuant to subsection 6.1,
except for Real Property Assets disposed of since the date of such financial
statements in the ordinary course of business or as otherwise permitted under
subsection 7.7 and except for such defects that, individually or in the
aggregate, would not reasonably be expected to have a Material Adverse Effect.
Except as permitted by this the Loan Documents, all such properties and assets
are free and clear of Liens (other than Permitted Liens).

     B. Real Property. As of the Closing Date, Schedule 5.5B contains a true,
accurate and complete list of (i) all fee interests of any Loan Party in real
property and the Loan Party which owns such fee interest and (ii) all Leasehold
Properties of any Loan Party. Except as specifically identified on Schedule
5.5B, all real property in which any Loan Party has a fee interest on the
Closing Date is subject to a Closing Date Mortgage. Each lease or sublease, as
applicable, for each such Leasehold Property is in full force and effect and
the Company has not received written notice of any material default by any
party thereto that has occurred and is continuing thereunder, and each such
agreement constitutes the legally valid and binding obligation of each
applicable Loan Party, enforceable against such Loan Party in accordance with
its terms, except as enforcement may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar laws relating to or limiting creditors’
rights generally or by equitable principles.

     C. Intellectual Property. The Company and its Subsidiaries own or have
the valid right to use all material trademarks and material service marks,
trade names, patents, copyrights, trade secrets and technology used in or
necessary to conduct the Company’s and its Subsidiaries’ business
(collectively, the “Intellectual Property”), free and clear of any and all
Liens other than Permitted Liens. All registrations therefor that are material
to the business of the Company and its Subsidiaries, taken as a whole, are in
full force and effect and are valid and enforceable. The conduct of the
Company’s and its Subsidiaries’ business as currently conducted, including, but
not limited to, all products, processes or services, made, offered or sold by
the Company and its Subsidiaries, does not infringe upon, violate,
misappropriate or dilute any intellectual property of any third party, which
infringement, violation, misappropriation or dilution would reasonably be
expected to have a Material Adverse Effect. To the best of the Company’s and
its Subsidiaries’ knowledge, no third party is infringing upon the Intellectual
Property in any material respect. There is no pending or, to the Company’s and
its Subsidiaries’ knowledge, threatened claim or litigation contesting the
Company’s right to own or use any material Intellectual Property or the
validity or enforceability thereof, except as would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect.

	5.6	 	Litigation, Adverse Facts.

     There is no action, suit, proceeding, arbitration or governmental
investigation (whether or not purportedly on behalf of the Company or any of
its Subsidiaries) at law or in equity or before or by any Governmental
Authority pending or, to the knowledge of the Company, threatened in writing
against or affecting the Company or any of the Company’s Subsidiaries or any
property of the Company or any of the Company’s Subsidiaries that, either
individually or in the aggregate together with all other such actions,
proceedings and investigations, has had, or would reasonably be expected to
have, a Material Adverse Effect. Neither the Company nor any of the Company’s
Subsidiaries is (i) in violation of any Applicable Law that has had, or would
reasonably be expected to have, a Material Ad-

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verse Effect or (ii) subject to or in default with respect to any final
judgment, writ, injunction, decree, rule or regulation of any Governmental
Authority that has had, or would reasonably be expected to have, a Material
Adverse Effect.

	5.7	 	Payment of Taxes.

     Except to the extent permitted by subsection 6.3, all material tax returns
and reports of the Company and the Company’s Subsidiaries required to be filed
by any of them have been timely filed and are true, correct and complete in all
material respects, and all material taxes, assessments, fees and other
governmental charges upon the Company and the Company’s Subsidiaries and upon
their respective properties, assets, income, businesses and franchises which
are due and payable have been paid when due and payable. Neither the Company
nor any of the Company’s Subsidiaries knows of any proposed tax assessment
against the Company or any of the Company’s Subsidiaries other than those which
(i) are being actively contested by the Company or such Subsidiary in good
faith and by appropriate proceedings and for which reserves or other
appropriate provisions, if any, as may be required in conformity with GAAP
shall have been made or provided therefor or (ii) would not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect.

	5.8	 	Performance of Agreements; Materially Adverse Agreements.

     A. On and after the Closing Date and after giving effect to the
Transactions, neither the Company nor any of its Subsidiaries is in default in
the performance, observance or fulfillment of any of the obligations, covenants
or conditions contained in any of its Contractual Obligations, and no condition
exists that, with the giving of notice or the lapse of time or both, would
constitute such a default, except, in each case, individually or in the
aggregate, where the consequences, direct or indirect, of such default or
defaults, if any, would not reasonably be expected to have a Material Adverse
Effect.

     B. On and after the Closing Date and after giving effect to the
Transactions, neither the Company nor any of its Subsidiaries is a party to or
is otherwise subject to any agreement or instrument or any charter or other
internal restriction which has had, or would reasonably be expected have,
individually or in the aggregate, a Material Adverse Effect.

	5.9	 	Governmental Regulation.

     Neither the Company nor any of its Subsidiaries is subject to regulation
under the Public Utility Holding the Company Act of 1935, the Federal Power
Act, the Interstate Commerce Act or the Investment Company Act of 1940 or under
any other federal or state statute or regulation which may limit its ability to
incur Indebtedness or which may otherwise render all or any portion of the
Obligations unenforceable.

	5.10	 	Securities Activities.

     Neither the Company nor any of its Subsidiaries is engaged principally, or
as one of its important activities, in the business of extending credit for the
purpose of purchasing or carrying any Margin Stock.

	5.11	 	ERISA.

     (a) Neither a Reportable Event nor an “accumulated funding deficiency”
(within the meaning of Section 412 of the Code or Section 302 of ERISA) has
occurred during the five-year period prior to the date on which this
representation is made or deemed made with respect to any Plan, and each Plan
has complied in all material respects with the applicable provisions of ERISA
and the Code, except to the extent that any such occurrence or failure to
comply would not reasonably be expected to have a Material Adverse Effect, (b)
no termination of a Single Employer Plan has occurred resulting in any
liability that has remained underfunded, and no Lien in favor of the PBGC or a
Plan has arisen, during such five-year period which would reasonably be
expected to have a Material Adverse Effect and (c) the present value of all
accrued benefits under each Single Employer Plan (based on reasonable
assumptions used to fund such Plans in accordance with the Requirement of Law)
did not, as of the last annual valuation date prior to the date on which this
representation is made or deemed made, exceed the value of the assets of

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such Plan allocable to such accrued benefits, as determined in accordance
with GAAP and the Requirement of Law, by an amount which would reasonably be
expected to have a Material Adverse Effect. Neither the Company nor any
Commonly Controlled Entity is currently subject to any liability for a complete
or partial withdrawal from a Multiemployer Plan which would reasonably be
expected to have a Material Adverse Effect.

	5.12	 	Certain Fees.

     Except as otherwise disclosed in writing to the Administrative Agent, no
broker’s or finder’s fee or commission will be payable with respect to this
Agreement or any of the transactions contemplated hereby, and the Company
hereby indemnifies the Agents and the Lenders against, and agrees that it will
hold the Agents and the Lenders harmless from, any claim, demand or liability
for any such broker’s or finder’s fees alleged to have been incurred in
connection herewith or therewith and any expenses (including reasonable fees,
expenses and disbursements of counsel) arising in connection with any such
claim, demand or liability.

	5.13	 	Environmental Matters.

     Except as set forth in Schedule 5.13, and except to the extent that any
failure of clause (a) through (f) to be true and correct, in the aggregate,
would not be reasonably expected to have a Material Adverse Effect:

          (a) The facilities and properties owned, leased or operated by the
Company and the other Loan Parties or any of their Subsidiaries (the
“Properties”) do not contain any Materials of Environmental Concern in
amounts or concentrations which (i) constitute a violation of, or (ii)
could give rise to liability under, any Environmental Law.

          (b) The Properties and all operations of the Company and the other
Loan Parties and/or their Subsidiaries at the Properties are in
compliance, and have in the last 5 years been in compliance, in all
material respects with all applicable Environmental Laws, and there is no
contamination at, under or about the Properties or violation of any
Environmental Law with respect to the Properties or the business operated
by the Company and the other Loan Parties or any of their Subsidiaries
(the “Business”).

          (c) Neither the Company, the other Loan Parties nor their
Subsidiaries has received any written or actual notice of violation,
alleged violation, non-compliance, liability, potential liability, or
request for information under Section 104 of the Comprehensive
Environmental Response, Compensation, and Liability Act (42 U.S.C. §
9604) or any comparable state law, regarding environmental matters,
Materials of Environmental Concern, or compliance with Environmental Laws
with regard to any of the Properties, the Business, or sites at which the
Business disposed of or is alleged to have disposed of waste. To the
knowledge of the Company, the other Loan Parties and/or their
Subsidiaries, no written or actual notice of violation, alleged
violation, non-compliance, liability or potential liability or request
for information under Section 104 of the Comprehensive Environmental
Response, Compensation, and Liability Act (42 U.S.C. § 9604) or any
comparable state law, regarding environmental matters, Materials of
Environmental Concern, or compliance with Environmental Laws has been
received by predecessors of the Business or with regard to any
formerly-owned or operated properties of the Business, or sites at which
predecessors of the Business disposed of or are alleged to have disposed
of waste. Neither the Company, the other Loan Parties nor any of their
Subsidiaries have knowledge or reason to believe that any such notice
will be received or is being threatened.

          (d) Materials of Environmental Concern have not been transported or
disposed of from the Properties in violation of, or in a manner or to a
location which could give rise to liability under any Environmental Law,
nor have any Materials of Environmental Concern been generated, treated,
stored or disposed of at, on or under any of the Properties in violation
of, or in a manner that could give rise to liability under, any
applicable Environmental Law. To the knowledge of the Company, other
Loan Parties and/or their Subsidiaries, no predecessor of the Business
has filed any notice under any Environmental Law indicating past or
present treatment of Materials of Environmental Concern.

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          (e) Neither the Company, the other Loan Parties nor any of their
Subsidiaries have knowledge or reason to believe that any judicial
proceeding or governmental or administrative action is pending or
threatened, under any Environmental Law to which the Company, any other
Loan Party, and/or their Subsidiaries are or will be named as a party
with respect to the Properties, the Business, formerly owned or operated
sites, or sites at which the Business or its predecessors disposed of, or
are alleged to have disposed of waste, nor are there any consent decrees
or other decrees, consent orders, administrative orders or other orders,
or other administrative or judicial requirements outstanding under any
Environmental Law with respect to the Properties, the Business, formerly
owned or operated sites, or sites at which the Business or its
predecessors disposed of or are alleged to have disposed of waste.

          (f) There has been no release or threat of release of Materials of
Environmental Concern at or from the Properties, and to the knowledge of
the Company, other Loan Parties and/or their Subsidiaries, there has been
no release or threat of release of Materials of Environmental Concern at
or from formerly owned or operated sites, or at or from sites at which
the Business or its predecessors disposed of or are alleged to have
disposed of waste, in violation of or in amounts or in a manner that
could give rise to liability under Environmental Laws.

	5.14	 	Employee Matters.

     There is no strike or work stoppage in existence or, to the knowledge of
the Company, threatened involving the Company or any of its Subsidiaries that
would reasonably be expected to have a Material Adverse Effect.

	5.15	 	Solvency.

     The Company and its Subsidiaries, taken as a whole, are, and, upon the
incurrence of any Obligations by any Loan Party (including, without limitation,
the making of the Loans, the delivery of the Guaranties and the Liens created
by the Collateral Documents) on any date on which this representation is made,
will be, Solvent.

	5.16	 	Transaction Documents.

     A. Delivery of Transaction Documents. The Company has delivered to the
Administrative Agent complete and correct copies of each material Transaction
Document and of all exhibits and schedules thereto.

     B. Representations and Warranties. Except to the extent otherwise set
forth herein or in the schedules hereto, each of the representations and
warranties of any Loan Party made in any other Transaction Document, except to
the extent qualified in the schedules to such Transaction Documents, was true
and correct in all material respects as of the Closing Date (or as of any
earlier date to which such representation and warranty specifically relates).

     C. Governmental Authorizations. On the Closing Date, all Governmental
Authorizations and all other authorizations, approvals and consents of any
other Person required by the Transaction Documents or to consummate the
Transactions have been obtained and are in full force and effect, except where
the failure to obtain such authorizations, approvals or consents would not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.

     D. Conditions and Consummation. On the Closing Date, (i) all of the
conditions to the effectiveness of the Transactions set forth in the
Transaction Documents have been duly satisfied (other than those conditions
that are met by way of satisfaction of the Administrative Agent, the Agents,
the Lenders or Requisite Lenders, as the case may be, as to which the Loan
Parties make no representation) or, with the consent of the Requisite Lenders,
waived, and (ii) each of the Transactions have been consummated in all material
respects in accordance with the Transaction Documents and all Applicable Laws.

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	5.17	 	Disclosure.

     As of the Closing Date, the representations and warranties of the Company
and its Subsidiaries contained in the Transaction Documents and the information
contained in the other documents, certificates and written statements furnished
to any of the Agents or the Lenders by or on behalf of the Company or any of
its Subsidiaries for use in connection with the transactions contemplated by
this Agreement or any other Transaction Document (other than the Projections),
when taken together, do not contain any untrue statement of a material fact or
omit to state a material fact (known to the Company or the applicable
Subsidiary, in the case of any document not furnished by it) necessary in order
to make the statements contained herein or therein not materially misleading in
light of the circumstances in which the same were made. There is no fact known
to the Company (other than matters of a general economic nature) that has had,
or would reasonably be expected to have a Material Adverse Effect and that has
not been disclosed herein or in such other documents, certificates and
statements furnished to the Lenders for use in connection with the transactions
contemplated hereby.

	5.18	 	Indebtedness.

     (i) Immediately after giving effect to the Transactions and the other
transactions contemplated hereby, the Company and its Subsidiaries shall have
no outstanding Indebtedness or preferred stock other than (a) the Loans and
other extensions of credit under this Agreement, (b) existing Indebtedness
(other than amounts repaid as part of the Transactions) listed on Schedule 7.1,
(c) other Indebtedness permitted under subsection 7.1 and (d) the Preferred
Stock;

     (ii) the Obligations constitute “Senior Indebtedness” under and as defined
in the applicable Subordinated Debt Documents; and

     (iii) this Agreement together with the Second Lien Credit Agreement
constitute the “Credit Agreement” as such term is defined in the Senior
Subordinated Purchase Agreement.

SECTION 6.

AFFIRMATIVE COVENANTS

     The Company covenants and agrees that, so long as any of the Commitments
hereunder shall remain in effect and until payment in full of all of the Loans
and other Obligations and the cancellation or expiration of all Letters of
Credit, unless the Requisite Lenders shall otherwise give prior written
consent, the Company shall perform, and shall cause each of its Subsidiaries to
perform, all covenants in this Section 6.

	6.1	 	Financial Statements and Other Reports.

     The Company will maintain, and cause each of its Subsidiaries to maintain,
a system of accounting established and administered in accordance with sound
business practices to permit preparation of financial statements in conformity
with GAAP. The Company will deliver to the Administrative Agent (which will
promptly forward copies of the same to each Lender):

          (i) Monthly Financials: as soon as available and in any event
within thirty (30) days after each calendar month-end (other than the
third month of any Fiscal Quarter) commencing with the calendar month
ending March 31, 2004, the consolidated balance sheet as at the end of
each month of the Company and its Subsidiaries, together with the related
consolidated statements of income and cash flows of each for such month
and for the period from the beginning of the then current Fiscal Year to
the end of such month, setting forth, in the case of statements of income
only, in comparative form the corresponding figures for the corresponding
periods of the previous Fiscal Year and the corresponding figures from
the consolidated plan and financial forecast for the current Fiscal Year
delivered pursuant to subsection 6.1(xiii), all prepared in accordance
with the GAAP and in reasonable detail and certified by the chief
financial officer of the Company that they fairly present, in all
material respects, the financial condition of each as at the dates
indicated and the results of their operations and their cash flows for
the periods indicated, subject to changes resulting from audit and normal
year-end adjustments;

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          (ii) Quarterly Financials: as soon as available and in any event
within forty-five (45) days after the end of each Fiscal Quarter (other
than the last Fiscal Quarter of any Fiscal Year) commencing with the
Fiscal Quarter ending March 31, 2004, (a) the consolidated balance sheet
of the Company and its Subsidiaries as at the end of such Fiscal Quarter
and the related consolidated statements of income and cash flows for such
Fiscal Quarter and for the period from the beginning of the then current
Fiscal Year to the end of such Fiscal Quarter, setting forth, in the case
of statements of income only, in comparative form the corresponding
figures for the corresponding periods of the previous Fiscal Year and the
corresponding figures from the consolidated plan and financial forecast
for the current Fiscal Year delivered pursuant to subsection 6.1(xiii),
all prepared in accordance with GAAP and in reasonable detail and
certified by the chief financial officer of the Company that they fairly
present, in all material respects, the financial condition of each as at
the dates indicated and the results of their operations and their cash
flows for the periods indicated, subject to changes resulting from audit
and normal year-end adjustments; and (b) a narrative report describing
the operations of the Company and its Subsidiaries, in each case, taken
as a whole, in the form prepared for presentation to senior management
for such Fiscal Quarter and for the period from the beginning of the then
current Fiscal Year to the end of such Fiscal Quarter;

          (iii) Year-End Financials: as soon as available and in any event
within ninety (90) days after the end of each Fiscal Year, (a) the
consolidated balance sheet of the Company and its Subsidiaries as at the
end of such Fiscal Year and the related consolidated statements of income
and cash flows for such Fiscal Year, setting forth, in the case of
statements of income only, in comparative form the corresponding figures
for the previous Fiscal Year and the corresponding figures from the
consolidated plan and financial forecast delivered pursuant to subsection
6.1(xiii) for the Fiscal Year covered by such financial statements, all
prepared in accordance with the GAAP and in reasonable detail and
certified by the chief financial officer of the Company that they fairly
present, in all material respects, the financial condition of the
entities covered thereby as at the dates indicated and the results of
their operations and their cash flows for the periods indicated; (b) a
narrative report describing the operations of the Company and its
Subsidiaries, in each case, taken as a whole, in the form prepared for
presentation to senior management for such Fiscal Year; and (c) a report
thereon of independent certified public accountants of recognized
national standing selected by the Company and reasonably satisfactory to
the Administrative Agent, which report shall be unqualified as to going
concern and scope of audit, and shall state that such consolidated
financial statements fairly present, in all material respects, the
consolidated financial position of the Company and its Subsidiaries as at
the dates indicated and the results of their operations and their cash
flows for the periods indicated in conformity with GAAP applied on a
basis consistent with prior years (except as otherwise disclosed in such
financial statements) and that the audit by such accountants in
connection with such consolidated financial statements has been made in
accordance with generally accepted auditing standards;

          (iv) Officer’s and Compliance Certificates: together with each
delivery of financial statements of the Company and its Subsidiaries
pursuant to subdivisions (ii) and (iii) above, (a) an Officer’s
Certificate of the Company stating that the signer has reviewed the terms
of this Agreement and has made, or caused to be made under his or her
supervision, a review in reasonable detail of the transactions and
condition of the Company and its Subsidiaries during the accounting
period covered by such financial statements and that such review has not
disclosed the existence during or at the end of such accounting period,
and that the signer did not have knowledge of the existence as at the
date of such Officer’s Certificate, of any condition or event that
constitutes an Default or Event of Default, or, if any such condition or
event existed or exists, specifying the nature and period of existence
thereof and what action the Company has taken, is taking and proposes to
take with respect thereto; and (b) a Compliance Certificate demonstrating
in reasonable detail compliance during and at the end of the applicable
accounting periods with the restrictions contained in subsection 7.6;

          (v) Reconciliation Statements: if, as a result of any change in
accounting principles and policies from those used in the preparation of
the audited financial statements referred to in subsection 5.3A(iii), the
consolidated financial statements delivered pursuant to subdivisions (i),
(ii), (iii) or (xiii) of this subsection 6.1 will differ in any material
respect from the consolidated financial statements that would have been
delivered pursuant to such subdivisions had no such change in accounting
principles and policies been made, then (a) together with the first
delivery of financial statements pursuant to subdivision (i), (ii), (iii)
or (xiii) of this subsection 6.1 following such change, consolidated
financial statements for the current

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Fiscal Year to the effective date of such change and (b) if
reasonably requested by the Administrative Agent, together with each
delivery of financial statements pursuant to subdivision (i), (ii), (iii)
or (xiii) of this subsection 6.1 following such change, with respect to
the immediately preceding Fiscal Year prior to such change, a written
statement of the chief accounting officer or chief financial officer of
the Company setting forth the differences which would have resulted if
such financial statements had been prepared without giving effect to such
change;

          (vi) Accountants’ Certification: together with each delivery of
consolidated financial statements of the Company and its Subsidiaries
pursuant to subdivision (iii) above, a written statement by the
independent certified public accountants giving the report thereon (a)
stating that their audit has included a reading of the terms of this
Agreement and the other Loan Documents as they relate to the covenants
set forth in subsection 7.6 and accounting matters and (b) stating
whether, in connection with their audit examination, any condition or
event, insofar as such condition or event relates to the covenants set
forth in subsection 7.6 or accounting matters, that constitutes a Default
or Event of Default has come to their attention and, if such a condition
or event has come to their attention, specifying the nature and period of
existence thereof; provided that such accountants shall not be liable by
reason of any failure to obtain knowledge of any such Default or Event of
Default that would not be disclosed in the course of their audit
examination;

          (vii) Accountants’ Reports: promptly upon receipt thereof (unless
restricted by applicable professional standards), copies of all signed
reports submitted to the Company by a national independent certified
public accountants in connection with each annual, interim or special
audit of the financial statements of the Company and its Subsidiaries
made by such accountants, including, without limitation, any comment
letter submitted by such accountants to management in connection with
their annual audit;

          (viii) SEC Filings and Press Releases: within thirty (30) days
after the filing of same, copies of (a) all financial statements,
reports, notices and proxy statements sent or made available generally by
the Company to its security holders, (b) all regular and periodic reports
and all registration statements (other than on Form S-8 or a similar
form) and prospectuses. if any, filed by the Company or any of its
Subsidiaries with any securities exchange or with the Securities and
Exchange Commission or any governmental or private regulatory authority,
and (c) all press releases and other statements made available generally
by the Company or any of its Subsidiaries to the public concerning
material developments in the business of the Company or any of its
Subsidiaries;

          (ix) Events of Default, etc.: reasonably promptly upon any officer
of the Company obtaining knowledge (a) of any condition or event that
constitutes a Default or an Event of Default, (b) that any Person has
given any notice to the Company or any of its Subsidiaries or taken any
other action with respect to a claimed default or event or condition of
the type referred to in subsection 8.2, or (c) of the occurrence of any
event or change that has caused or evidences or would be reasonably
expected to have, individually or in the aggregate, a Material Adverse
Effect, an Officer’s Certificate specifying the nature and period of
existence of such condition, event or change, or specifying the notice
given or action taken by any such Person and the nature of such claimed
Default, Event of Default, default, event or condition, and what action
the Company (or applicable Subsidiary) has taken, is taking and proposes
to take with respect thereto;

          (x) Litigation or Other Proceedings: reasonably promptly upon any
officer of the Company obtaining knowledge of (X) the institution of, or
threat of, any action, suit, proceeding (whether administrative, judicial

or otherwise), claims under any Environmental Laws, governmental
investigation or arbitration against or affecting the Company or any of
its Subsidiaries or any property of the Company or any of its
Subsidiaries (collectively, “Proceedings”) not previously disclosed in
writing by the Company to the Administrative Agent or (Y) any material
development in any Proceeding that, in any case:

               (a) would reasonably be expected to have a Material Adverse
Effect; or

               (b) seeks to enjoin or otherwise prevent the consummation of,
or to recover any damages or obtain relief as a result of, the
transactions contemplated hereby;

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written notice thereof together with such other information as may be
reasonably available to the Company and reasonably requested by the
Administrative Agent to enable the Lenders and their counsel to evaluate
such matters;

          (xi) ERISA: as soon as reasonably practicable and in any event
within thirty (30) days after the Company knows or has reason to know
thereof: (i) the occurrence or expected occurrence of any Reportable
Event with respect to any Plan, a failure to make any required
contribution to a Plan, the creation of any Lien in favor of the PBGC or
any withdrawal from, or the termination, Reorganization or Insolvency of,
any Multiemployer Plan or (ii) the institution of proceedings or the
taking of any other action by the PBGC or the Company or any Commonly
Controlled Entity with respect to the withdrawal from, or the
terminating, Reorganization or Insolvency of, any Plan, which would
reasonably be expected to have a Material Adverse Effect; and

          (xii) [Intentionally Omitted];

          (xiii) Financial Plans: as soon as reasonably practicable and in
any event no later than forty-five (45) days after the end of each Fiscal
Year, a monthly consolidated plan and financial forecast for the next
succeeding Fiscal Year, including without limitation (a) forecasted
consolidated balance sheet and forecasted consolidated statements of
income and consolidated statement of cash flows of the Company and its
Subsidiaries for such Fiscal Year, together with a Compliance Certificate
prepared on a Pro Forma Basis for such Fiscal Year and an explanation of
the assumptions on which such forecasts are based and (b) such other
information and projections as the Administrative Agent may reasonably
request;

          (xiv) Insurance: as soon as reasonably practicable and in any event
by the last day of each Fiscal Year, a report in form and substance
satisfactory to the Administrative Agent outlining all material insurance
coverage maintained as of the date of such report by the Company and its
Subsidiaries and all material insurance coverage planned to be maintained
by the Company and its Subsidiaries in the immediately succeeding Fiscal
Year;

          (xv) Environmental Audits and Reports: as soon as reasonably
practicable following the reasonable request of the Administrative Agent,
copies of all environmental audits and reports, whether prepared by
personnel of the Company or any of its Subsidiaries or by independent
consultants, Governmental Authorities, any other Persons, with respect to
compliance or liability under applicable Environmental Law at any
Property presently owned or operated by the Company or its Subsidiaries,
or which relate to any claims or liabilities of the Company or its
Subsidiaries under any applicable Environmental Law, which, in any such
case, individually or in the aggregate, address issues which would
reasonably be expected to result in a Material Adverse Effect;

          (xvi) Regulatory Notices: as soon as reasonably practicable,
notification of any change in any law, rule or regulation relating to
vehicle emissions testing or regulations or any other business of the
Company and its Subsidiaries which would reasonably be expected to have a
Material Adverse Effect;

          (xvii) Contracts: promptly after any default or event of default
under any Contractual Obligation of the Company or any of its
Subsidiaries which would reasonably be expected to have a Material
Adverse Effect;

          (xviii) Certain Events: within ninety (90) days after the end of
each Fiscal Year of the Company, a certificate containing information
regarding the amount of all Asset Dispositions, issuances of
Indebtedness, and issuances of Capital Stock or other equity securities
that were made during the prior Fiscal Year and amounts received in
connection with any Recovery Event during the prior Fiscal Year, and

          (xix) Other Information: with reasonable promptness, such other
information and data with respect to the Company or any of the Company’s
Subsidiaries as from time to time may be reasonably requested by the
Administrative Agent or the Requisite Lenders.

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	6.2	 	Corporate Existence.

     Except as permitted under subsection 7.7, the Company will, and will cause
each of its Subsidiaries to, at all times preserve and keep in full force and
effect its corporate existence and all rights and franchises material to the
business of the Company and its Subsidiaries (on a consolidated basis) or the
Loan Parties, taken as a whole, except, in the case of Subsidiaries, where the
failure to do so would not reasonably be expected to have a Material Adverse
Effect.

	6.3	 	Payment of Taxes and Claims; Tax Consolidation.

     A. The Company will, and will cause each of its Subsidiaries to, pay all
material taxes, assessments and other governmental charges imposed upon it or
any of its properties or assets or in respect of any of its income, businesses
or franchises before any penalty accrues thereon, and all claims (including,
without limitation, claims for labor, services, materials and supplies) for
sums that have become due and payable which, if unpaid, would reasonably be
expected to become a Lien (other than a Permitted Lien) upon any of its
properties or assets; provided that no such tax, charge or claim need be paid
if being contested in good faith by appropriate proceedings promptly instituted
and diligently conducted and if such reserve or other appropriate provision, if
any, as shall be required in conformity with GAAP shall have been made
therefor.

     B. The Company will not, nor will it permit any of its Subsidiaries to,
file or consent to the filing of any consolidated, combined or other similar
income tax return with any Person (other than the Company and Subsidiaries of
the Company).

	6.4	 	Maintenance of Properties; Insurance.

     The Company will, and will cause each of its Subsidiaries to, maintain or
cause to be maintained in good repair, working order and condition, ordinary
wear and tear and obsolescence excepted, all material properties used or useful
in the business of the Company and its Subsidiaries and from time to time will
make or cause to be made all appropriate repairs, renewals and replacements
thereof, except in each case where the failure to do so would not reasonably be
expected to have a Material Adverse Effect. The Company will maintain or cause
to be maintained, with financially sound and reputable insurers, insurance with
respect to its properties and business and the properties and businesses of its
Subsidiaries against loss or damage of the kinds and with respect to liability
customarily carried or maintained under similar circumstances by corporations
of established reputation engaged in similar businesses. Each such policy of
casualty insurance covering damage to or loss of property constituting
Collateral shall name the Collateral Agent for the benefit of the Lenders as
mortgagee and as the loss payee thereunder for all losses, subject to
application of proceeds as required by subsection 2.4B(iii)(d), each such
policy of liability insurance coverage shall name the Administrative Agent as
additional insured and all such policies of insurance shall provide for at
least thirty (30) days’ prior written notice to the Collateral Agent of any
material modification or cancellation of such policy.

	6.5	 	Inspection; Lender Meeting.

     The Company shall, and shall cause each of its Subsidiaries to, permit the
Administrative Agent and any authorized representatives designated by any
Lender to visit and inspect any of the properties of the Company or any of the
Company’s Subsidiaries, including its and their financial and accounting
records, and to make copies and take extracts therefrom (other than materials
protected by the attorney-client privilege and materials which the Company or
the applicable Subsidiary may not disclose without a confidentiality obligation
binding upon it), and to discuss its and their affairs, finances and accounts
with its and their officers and independent public accountants, all upon
reasonable advance notice and at such reasonable times during normal business
hours and as often as may be reasonably requested and, so long as no Event of
Default shall have occurred or be continuing, upon reasonable prior written
notice to the Company with, if elected by the Company, representatives of the
Company present, with its independent certified public accountants. Without in
any way limiting the foregoing, the Company will, upon the request of the
Administrative Agent, participate in a meeting of (or in lieu thereof, a
telephonic conference call among) the Administrative Agent and the Lenders at
least once during each Fiscal Year (and will participate in such other meetings
at such other times as the Company and the Administrative Agent may agree) to
be held at the Com-

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pany’s corporate offices (or such other location as may be agreed to by
the Company and the Administrative Agent) at such time as may be agreed to by
the Company and the Administrative Agent.

	6.6	 	Compliance with Laws, etc.

     The Company shall, and shall cause each of its Subsidiaries to, comply
with the requirements of all applicable laws, rules, regulations and orders of
any Governmental Authority, noncompliance with which, individually or in the
aggregate with other noncompliances, would reasonably be expected to have a
Material Adverse Effect.

	6.7	 	Environmental Laws.

     A. The Company shall, and shall cause each of its Subsidiaries to, comply
in all material respects with, and make commercially reasonable efforts to
ensure compliance in all material respects by all tenants and subtenants, if
any, with, all applicable Environmental Laws and obtain and comply in all
material respects with and maintain, and make commercially reasonable efforts
to ensure that all tenants and subtenants obtain and comply in all material
respects with and maintain, any and all licenses, approvals, notifications,
registrations or permits required by applicable Environmental Laws.

     B. The Company shall, and shall cause each of its Subsidiaries to, conduct
and complete all investigations, studies, sampling and testing, and all
remedial, removal and other actions required under Environmental Laws and
timely comply in all material respects with all lawful orders and directives of
all Governmental Authorities regarding Environmental Laws except to the extent
that the same are being contested in good faith by appropriate proceedings and
the pendency of such proceedings could not reasonably be expected to have a
Material Adverse Effect.

     C. The Company shall, and shall cause each of its Subsidiaries to, defend,
indemnify and hold harmless the Agents and the Lenders, and their respective
employees, agents, officers and directors, from and against any and all claims,
demands, penalties, fines, liabilities, settlements, damages, costs and
expenses of whatever kind or nature known or unknown, contingent or otherwise,
arising out of, or in any way relating to the violation of, noncompliance with
or liability under, any Environmental Law applicable to the Business, the
Properties or the operations of the Company or any of its Subsidiaries, or any
orders, requirements or demands of Governmental Authorities related thereto,
including, without limitation, reasonable attorney’s and consultant’s fees,
investigation and laboratory fees, response costs, court costs and litigation
expenses, except to the extent that any of the foregoing arise out of the gross
negligence or willful misconduct of the party seeking indemnification therefor.
The agreements in this paragraph shall survive repayment of the Obligations
solely to the extent relating to periods prior to such repayment.

	6.8	 	[Intentionally Omitted].

	6.9	 	Execution of Guaranty and Collateral Documents by Future Domestic
Subsidiaries.

     In the event that any Person becomes a Subsidiary of the Company
(including, without limitation, any Subsidiary created in accordance with
subsection 7.7(ii)), the Company will reasonably promptly notify the
Administrative Agent of that fact and in the case of a Domestic Subsidiary,
cause such Domestic Subsidiary within thirty (30) days after it becomes a
Domestic Subsidiary to execute and deliver to the Administrative Agent and the
Collateral Agent a counterpart of the Subsidiary Guaranty, and the Pledge
Agreement and the Security Agreement, and to take all such further action and
execute all such further documents and instruments as may be required to grant
and perfect in favor of the Collateral Agent, for the benefit of the Lenders, a
First Priority security interest in all of the real, mixed and personal
property assets of such Subsidiary which would have constituted Collateral had
such Person been a Domestic Subsidiary on the Closing Date. In addition, the
Company shall pledge (if it is the direct owner of Capital Stock of such
Subsidiary) or shall cause each of its applicable Domestic Subsidiaries to
pledge (if any of such other Subsidiaries is the direct owner of Capital Stock
of such Subsidiary, each such owner, whether the Company or any of its other
Subsidiaries, the “Pledging Parent”) all of the Capital Stock of such
Subsidiary (or 65% of such Capital Stock if such Subsidiary is a “first-tier”
Foreign Subsidiary) to the Collateral Agent pursuant to the applicable
Collateral Documents and to take all such further action and execute all such
further documents and in-

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struments as may be required to grant and perfect in favor of the
Collateral Agent, for the benefit of the Lenders, a First Priority security
interest in such Capital Stock. The Company shall deliver to the
Administrative Agent, together with such Loan Documents, in the case of each
such Subsidiary that is required to be a party to any Loan Document: (i) (a)
certified copies of such Subsidiary’s Organizational Certificate together, if
applicable, with a good standing certificate from the Secretary of State of the
jurisdiction of its incorporation, formation or organization, as applicable,
each to be dated a recent date prior to their delivery to the Administrative
Agent, (b) a copy of such Subsidiary’s Organizational Documents, certified by
its secretary or an assistant secretary (or Person holding an equivalent title
or having equivalent duties and responsibilities) as of a recent date prior to
their delivery to the Administrative Agent, (c) a certificate executed by the
secretary or an assistant secretary of such Subsidiary as to (x) the incumbency
and signatures of the officers of such Subsidiary executing such Guaranty, the
Collateral Documents and the other Loan Documents to which such Subsidiary is a
party and (y) the fact that the attached Organizational Authorizations of such
Subsidiary authorizing the execution, delivery and performance of such
Guaranty, such Collateral Documents and such other Loan Documents are in full
force and effect and have not been modified or rescinded, and (ii) upon the
reasonable request of the Collateral Agent, a favorable opinion of counsel to
such Subsidiary, that is reasonably satisfactory to the Collateral Agent, as to
(a) the due organization and good standing of such Subsidiary, (b) the due
authorization, execution and delivery by such Subsidiary of such Guaranty, the
Collateral Documents and any other Loan Documents to which it is a party, (c)
the enforceability of such Guaranty and such Collateral Documents against such
Subsidiary, (d) the validity and perfection of the security interests granted
by such Subsidiary (and by the Pledging Parent of such Subsidiary in respect of
the Capital Stock of such Subsidiary (including each “first tier” Foreign
Subsidiary)) in favor of the Collateral Agent pursuant to the Collateral
Documents and (e) such other matters as any Agent may reasonably request, all
of the foregoing to be reasonably satisfactory in form and substance to the
Collateral Agent. In addition, the Company shall reasonably promptly deliver a
supplement to Schedule 4.1Q to the Administrative Agent if any Subsidiary is
created or acquired.

	6.10	 	Interest Rate Protection.

     For a period of two years after the Closing Date, the Company shall
maintain in effect one or more Interest Rate Agreements in form and substance
reasonably satisfactory to the Administrative Agent with respect to interest on
Indebtedness of the Company and its Subsidiaries such that an aggregate
principal amount equal to at least 50% of the aggregate outstanding principal
amount of Funded Debt of the Company and its Subsidiaries is either (x) fixed
rate Indebtedness or (y) subject to such Interest Rate Agreements.

	6.11	 	Further Assurances.

     At any time or from time to time upon the reasonable request of the
Administrative Agent or the Collateral Agent, the Company will, at its expense,
reasonably promptly execute, acknowledge and deliver such further documents and
do such other acts and things as the Administrative Agent or the Collateral
Agent may reasonably request in order to effect fully the purposes of the Loan
Documents and to provide for payment of the Obligations in accordance with the
terms of this Agreement, the Notes and the other Loan Documents. In
furtherance and not in limitation of the foregoing, the Company shall take, and
cause each of its Subsidiaries to take, such actions as the Administrative
Agent or the Collateral Agent may reasonably request from time to time
(including, without limitation, the execution and delivery of guaranties,
security agreements, pledge agreements, mortgages, deeds of trust, landlord’s
consents and estoppels, stock powers, financing statements and other documents,
the filing or recording of any of the foregoing, title insurance with respect
to any of the foregoing that relates to an interest in real property, and the
delivery of stock certificates and other collateral with respect to which
perfection is obtained by possession) to ensure that the Obligations are
guarantied by the Guarantors and are secured by the Collateral.

	6.12	 	Matters Relating to Additional and Closing Real Property
Collateral.

     A. Notice of Property Acquisition. As promptly as practicable and in any
event no later than thirty (30) days after the date of acquisition by any Loan
Party of any fee interest in real property with a value in excess of
$1,000,000, the Company shall deliver written notice to the Administrative
Agent and the Collateral Agent of such acquisition.

     B. Additional Mortgages, Etc. From and after the Closing Date, in the
event that (i) any Loan Party acquires any fee interest in any Real Property
Asset with a value in excess of $1,000,000 or (ii) at the time
any Per-

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son becomes a Subsidiary Guarantor, such Person owns or holds any fee
interest in any Real Property Asset with a value in excess of $1,000,000 (any
such Real Property Asset described in the foregoing clauses (i) or (ii), being
an “Additional Mortgaged Property”), the Company or such Subsidiary Guarantor
shall deliver to the Collateral Agent as soon as practicable after such Person
acquires any other Additional Mortgaged Property:

          (i) Additional Mortgage and Assignment of Rents and Leases. A fully
executed and notarized Mortgage (an “Additional Mortgage”) in proper form
for recording in all appropriate places in all applicable jurisdictions,
encumbering the interest of such Loan Party in such Additional Mortgaged
Property;

          (ii) Opinions of Counsel. (a) A favorable opinion of counsel to
such Loan Party, in form and substance, and from a counsel, reasonably
satisfactory to the Collateral Agent and its counsel, as to the due
authorization, execution and delivery by such Loan Party of such
Additional Mortgage and the authorization and delivery of fixture filings
and other financing statements and such other related matters as the
Administrative Agent may reasonably request, and (b) if required by the
Administrative Agent, an opinion of counsel (which counsel shall be
reasonably satisfactory to the Administrative Agent) in the state in
which such Additional Real Property is located with respect to the
enforceability of the Additional Mortgage to be recorded in such state
and such other related matters (including without limitation any matters
governed by the laws of such state regarding personal property security
interests in respect of any Collateral that constitutes fixtures) as the
Collateral Agent may reasonably request, in each case in form and
substance reasonably satisfactory to the Administrative Agent;

          (iii) Title Insurance. (a) An ALTA standard form mortgagee title
insurance policy or an unconditional commitment therefor (an “Additional
Mortgage Policy”) issued by the Title Company with respect to such
Additional Mortgaged Property, in an amount reasonably satisfactory to
the Collateral Agent, insuring fee simple title to such Additional
Mortgaged Property vested in such Loan Party and insuring the Collateral
Agent that such Additional Mortgage creates a valid and enforceable First
Priority mortgage Lien on such Additional Mortgaged Property, subject
(unless a survey is delivered pursuant to clause (v) below) only to a
standard survey exception limited to matters occurring after the date of
the most recent survey, which Additional Mortgage Policy (1) shall
include an endorsement for mechanics’ liens (or deletion of the
pre-printed mechanics’ lien exception), for future advances under this
Agreement and for any other matters reasonably requested by the
Collateral Agent and (2) shall provide for affirmative insurance and such
reinsurance as the Collateral Agent may reasonably request, all of the
foregoing in form and substance reasonably satisfactory to the Collateral
Agent; and (b) evidence satisfactory to the Administrative Agent that
such Loan Party has (i) delivered to the Title Company all reasonable
certificates and affidavits required by the Title Company in connection
with the issuance of the Additional Mortgage Policy and (ii) paid to the
Title Company or to the appropriate governmental authorities all expenses
and premiums of the Title Company in connection with the issuance of the
Additional Mortgage Policy and all recording and stamp taxes (including
mortgage recording and intangible taxes) payable in connection with
recording the Additional Mortgage in the appropriate real estate records;

          (iv) Title Report. If no Additional Mortgage Policy is required
with respect to such Additional Mortgaged Property, a title report issued
by the Title Company with respect thereto, dated not more than thirty
(30) days prior to the date such Additional Mortgage is to be recorded
and reasonably satisfactory in form and substance to the Collateral
Agent;

          (v) Surveys. With respect to such Additional Mortgaged Property a
survey and, for purposes of purchasing title insurance, evidence of the
fair market value of such Property reasonably satisfactory to the
Collateral Agent, which survey shall not be required to be certified to
the Title Company, the Collateral Agent or the Lenders, so long as the
Title Company removes the standard survey exception and inserts in lieu
thereof, a reference to an existing survey and matters subsequent to the
date thereof.

          (vi) Copies of Documents Relating to Title Exceptions. Copies of
all recorded documents listed as exceptions to title or otherwise
referred to in the Additional Mortgage Policy or title report delivered
pursuant to clause (iii) or (iv) above;

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          (vii) Matters Relating to Flood Hazard Properties. (a) Evidence,
which may be in the form of a certificate from a nationally recognized
flood search company, a letter from an insurance broker or a municipal
engineer, or a notation on a survey of the Additional Mortgaged Property
dated not more than three (3) years prior to the date of the Additional
Mortgage issued by a licensed surveyor in the jurisdiction in which the
Additional Mortgaged Property is located as to (1) whether such
Additional Mortgaged Property is a Flood Hazard Property and (2) if so,
whether the community in which such Flood Hazard Property is located is
participating in the National Flood Insurance Program, (b) if such
Additional Mortgaged Property is a Flood Hazard Property, such Loan
Party’s written acknowledgment of receipt of written notification from
the Collateral Agent (1) that such Additional Mortgaged Property is a
Flood Hazard Property and (2) as to whether the community in which such
Flood Hazard Property is located is participating in the National Flood
Insurance Program, and (c) in the event such Additional Mortgaged
Property is a Flood Hazard Property that is located in a community that
participates in the National Flood Insurance Program, evidence that the
Company has obtained flood insurance in respect of such Flood Hazard
Property to the extent required under the applicable regulations of the
Board of Governors of the Federal Reserve System; and

          (viii) Environmental Audit. Reports and other information, in form,
scope and substance reasonably satisfactory to the Administrative Agent
and the Collateral Agent and prepared by environmental consultants
reasonably satisfactory to the Administrative Agent and the Collateral
Agent, concerning any environmental hazards or liabilities to which the
Company or any of its Subsidiaries may be subject with respect to such
Additional Mortgaged Property;

provided that, notwithstanding anything to the contrary contained in this
subsection 6.12B, neither the Company nor any of its Subsidiaries shall be
required to deliver any of the items (other than an Additional Mortgage and
Additional Mortgage Policy) set forth in this subsection 6.12B with respect to
(x) any property to the extent that the Administrative Agent or the Collateral
Agent has waived delivery of such items (which waiver the Administrative Agent
or Collateral Agent may grant or withhold in its sole discretion), and (y) any
property owned or leased by any Foreign Subsidiary of the Company that is not
required to be a Subsidiary Guarantor.

	6.13	 	Cash Concentration and Lockbox System.

     The Company shall at all times maintain and cause its Subsidiaries to
maintain the lockbox and cash management system described on Schedule 6.13 and
reasonably satisfactory to the Administrative Agent; provided, however, that
upon the occurrence and during the continuation of a Default or Event of
Default, (i) the Administrative Agent shall have the right to direct the
Collateral Agent to establish sole dominion and control for the benefit of the
Secured Parties over the deposit, concentration and other accounts of the
Company and its Subsidiaries, (ii) the Company shall and shall cause its
Subsidiaries to afford the Collateral Agent with such sole dominion and
control, and (iii) the balances in such account may be applied toward payment
of the Obligations in accordance with the provisions hereof and the
Intercreditor Agreement.

	6.14	 	Credit Rating.

     The Company shall at all times use their commercially reasonable efforts
to cause a credit rating by S&P and by Moody’s to be maintained with respect to
the Loans.

	6.15	 	Post-Closing Covenant.

     The Company shall take all such actions required to deliver and/or execute
the certificates or documents set forth on Schedule 6.15 within the time frames
specified on Schedule 6.15.

SECTION 7.

NEGATIVE COVENANTS

     The Company covenants and agrees that, so long as any of the Commitments
hereunder shall remain in effect and until payment in full of all of the Loans
and other Obligations and the cancellation or expiration of all Let-

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ters of Credit, unless the Requisite Lenders shall otherwise give prior
written consent, the Company shall perform, and shall cause each of its
Subsidiaries to perform, all covenants in this Section 7.

	7.1	 	Indebtedness.

     The Company shall not, and shall not permit any of its Subsidiaries to,
directly or indirectly, create, incur, assume or guaranty, or otherwise become
or remain directly or indirectly liable with respect to, any Indebtedness,
except:

          (i) Each of the Loan Parties may become and remain liable with
respect to its respective Obligations;

          (ii) The Company and its Subsidiaries, as applicable, may remain
liable with respect to Indebtedness described in Schedule 7.1 and
renewals, refinancings or extensions thereof in a principal amount not in
excess of that outstanding as of the date of such renewal, refinancing or
extension (but including accrued but unpaid interest to be capitalized in
the principal thereof and fees and expenses incurred in connection
therewith);

          (iii) (A) The Company and its Subsidiaries may become and remain
liable with respect to Indebtedness in respect of Guaranty Obligations
(other than Guaranty Obligations permitted pursuant to subsection 7.1(i),
subsection 7.1(vii) and subsection 7.1(ix)) in an aggregate amount not to
exceed $5,000,000 at any time outstanding; and (B) the Company may become
and remain liable with respect to Indebtedness in respect of Guaranty
Obligations of obligations of Subsidiaries in an aggregate amount not to
exceed $7,500,000 at any time outstanding;

          (iv) The Company and its Subsidiaries may become and remain liable
with respect to Indebtedness of the Company and its Subsidiaries incurred
after the Closing Date consisting of Capital Leases or other purchase
money Indebtedness incurred to provide all or a portion of the purchase
price or cost of construction of an asset (or to finance such purchase
price within ninety (90) days of such acquisition) provided that (i) such
Indebtedness when incurred shall not exceed the purchase price or cost of
improvement or construction of such asset; (ii) no such Indebtedness
shall be refinanced for a principal amount in excess of the principal
balance outstanding thereon at the time of such refinancing (including
accrued but unpaid interest to be capitalized in the principal thereof
and fees and expenses incurred in connection therewith); and (iii) the
total amount of all such Indebtedness shall not exceed $5,000,000 at any
time outstanding;

          (v) The Company and its Subsidiaries may become and remain liable
with respect to any unsecured intercompany Indebtedness among the Loan
Parties, provided that any such Indebtedness owed by any Loan Party shall
be fully subordinated to the Obligations hereunder on terms reasonably
satisfactory to the Administrative Agent and notes evidencing any such
material Indebtedness owed to any Loan Party shall be pledged to the
Collateral Agent on behalf of the Lenders to secure the Obligations;

          (vi) The Company and its Subsidiaries may become and remain liable
with respect to Indebtedness under Hedge Agreements required under
subsection 6.10 and other Hedge Agreements entered into in order to
manage existing or anticipated interest rate, exchange rate or commodity
price risks and not for speculative purposes;

          (vii) The Company and its Subsidiaries may become and remain liable
with respect to any Subordinated Debt and any Guaranty Obligations in
connection with such Subordinated Debt, including without limitation any
Take-Out Financing that is used to redeem or otherwise repurchase
Preferred Stock; provided that if such Take-Out Financing is used to
redeem or otherwise repurchase Preferred Stock then the Leverage Ratio
shall be less than 4.0:1.0 on a Pro Forma Basis after giving effect to
the incurrence of such Take-Out Financing;

          (viii) The Company and its Subsidiaries may become and remain liable
with respect to Indebtedness and obligations of Loan Parties owing under
documentary letters of credit for the purchase of goods

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or other merchandise (but not under standby, direct pay or other
letters of credit except for the Letters of Credit hereunder) generally;

          (ix) The Company and its Subsidiaries may become and remain liable
with respect to Indebtedness owed under the Second Lien Credit Agreement
in an aggregate principal amount not to exceed $100,000,000 at any time
outstanding;

          (x) The Company and its Subsidiaries may become and remain liable
with respect to other Indebtedness in an aggregate principal amount not
to exceed $7,500,000 at any time outstanding; and

          (xi) The Company and its Subsidiaries may become and remain liable
with respect to Indebtedness of any Person or the property or assets of
any Person acquired by the Company or any of its Subsidiaries in
connection with any transaction permitted under subsection 7.7(ii) so
long as such Indebtedness was in existence at the time of such
transaction and was not incurred in contemplation of such transaction.

	7.2	 	Liens.

     The Company will not, nor will it permit any Subsidiary to, contract,
create, incur, assume or permit to exist any Lien with respect to any of its
property or assets of any kind (whether real or personal, tangible or
intangible), whether now owned or hereafter acquired, except for Permitted
Liens.

	7.3	 	Investments.

     The Company shall not, and shall not permit any of its Subsidiaries to,
directly or indirectly, make or own any Investment in any Person except for
Permitted Investments.

	7.4	 	Nature of Business.

     The Company will not, nor will it permit any Subsidiary to, alter the
character of its primary business and businesses related or ancillary thereto
in any material respect from that conducted as of the Closing Date.

	7.5	 	Restricted Payments.

     The Company will not, nor will it permit any Subsidiary to, directly or
indirectly, declare, order, make or set apart any sum for or pay any Restricted
Payment, except (a) to make dividends payable solely in the same class of
Capital Stock of such Person or the common stock of such Person; (b) to make
dividends or other distributions payable to any Loan Party (directly or
indirectly through Subsidiaries); (c) as permitted by subsection 7.10; and (d)
provided that no Default or Event of Default has occurred and is continuing at
such time or would be directly or indirectly caused as a result thereof, the
Company may:

          (i) (A) make regularly scheduled or mandatory cash payments in
respect of interest (including any additional interest under any exchange
and registration rights agreements and any interest on the Subordinated
Notes and/or Exchange Notes or portion thereof which has been (or may in
the future be) deferred and is (or may be) evidenced by additional
Subordinated Notes or Exchange Notes) owing on the Subordinated Debt, (B)
pay deferred interest (or redeem or otherwise repay any interest on the
Subordinated Notes and/or Exchange Notes or portion thereof that has been
deferred and is evidenced by additional Subordinated Notes and/or
Exchange Notes) on the Subordinated Notes and/or Exchange Notes with
Consolidated Excess Cash Flow not required to prepay the Loans hereunder,
(C) redeem, repay, prepay or otherwise retire any Subordinated Debt with
the proceeds of other Subordinated Debt permitted hereunder or with the
proceeds of any Equity Issuances, in each case, to the extent such
proceeds are not required to prepay Loans hereunder, (D) make interest
payments on the Subordinated Debt in-kind and (E) on or before January 1,
2005, make non-required cash interest payments on the Subordinated Notes;
provided, that the Total Utilization of Revolving Loan Commitments shall
not exceed the Revolving Loan Commitments then in effect less
$15,000,000;

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          (ii) redeem Preferred Stock with the proceeds of other Subordinated
Debt permitted hereunder and the proceeds of Equity Issuances, in each
case, to the extent such proceeds are not required to prepay Loans
hereunder;

          (iii) repurchase stock and options of management in an aggregate
amount not to exceed $2,000,000 during the term of this Agreement;

          (iv) (A) pay Trimaran Fund II, L.L.C. and Albion Alliance
Mezzanine Fund, L.P. (or their Affiliates or designees) a monitoring fee
in an annual aggregate amount not to exceed $300,000 payable in quarterly
installments in each Fiscal Year, provided that such quarterly
installments may be accrued, but not paid in cash, if a Default or an
Event of Default has occurred and is continuing; and (B) so long as the
Total Utilization of Revolving Loan Commitments shall not exceed the
Revolving Loan Commitments then in effect less $35,000,000 after giving
effect to any such payment, pay one or more Permitted Holders (or their
Affiliates or designees) the following amounts in cash:

               (x) if the Leverage Ratio as of the end of the most recently
ended Fiscal Quarter was greater than or equal to 3.0:1.0, an
amount which, when added to all other amounts paid pursuant to
subsection 7.5(iv)(B) during such Fiscal Year in which such payment
is made, shall not exceed $750,000 (provided, however that up to
$1,250,000 may be expensed for such purposes during any such Fiscal
Year); or

               (y) if the Leverage Ratio as of the end of the most recently
ended Fiscal Quarter was less than 3.0:1.0, an amount which, when
added to all other amounts paid pursuant to subsection 7.5(iv)(B)
during such Fiscal Year in which such payment is made (including
any amounts paid in accordance with the provisions of clause (x)
above), shall not exceed the sum of (A) $1,250,000 plus (B) the
amount of any accrued but unpaid fees earned during any prior
Fiscal Year (including for the period prior to the Closing Date)
but not paid as a result of the provisions of this subsection
7.5(iv)(B); provided, further that no such payment shall be made if
the Leverage Ratio of the Company on a Pro Forma Basis after giving
effect to any such payment would exceed 3.0:1.0 at such time. It
is agreed that any accrued but unpaid fees will be junior and
subordinate in all respects to the Obligations and will be
evidenced by a subordination agreement in form and substance
reasonably satisfactory to the Administrative Agent;

          (v) to redeem a portion of the Subordinated Notes on the Closing
Date in an aggregate principal amount up to $25,000,000 and to pay
related fees and expenses associated therewith; and

          (vi) pay dividends in respect of Preferred Stock in an aggregate
amount not to exceed the then current amounts owing pursuant to the
Stockholders Agreement, the applicable Certificate of Designation and, in
the case of the Series A Preferred Stock, the Exchange and Registration
Rights Agreement as in effect on the Closing Date with respect to the shares of such series of Preferred Stock, provided, however, that no such
payments shall be made unless after giving effect thereto, (A) the
Leverage Ratio of the Company would be less than 3.5:1.0 (determined on a
Pro Forma Basis as of the end of the most recent Fiscal Quarter for which
a Compliance Certificate is delivered) and (B) the Total Utilization of
Revolving Loan Commitments shall not exceed the Revolving Loan
Commitments then in effect less $15,000,000.

	7.6	 	Financial Covenants.

     A. Leverage Ratio. The Leverage Ratio, as of the last day of each Fiscal
Quarter of the Company and its Subsidiaries indicated below, shall be less than
or equal to the following:

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	Fiscal Quarter
	 	Ratio

	June 30, 2004
	 	 	6.95:1.0	 
	September 30, 2004
	 	 	6.95:1.0	 
	December 31, 2004
	 	 	6.75:1.0	 
	March 31, 2005
	 	 	6.50:1.0	 
	June 30, 2005
	 	 	6.00:1.0	 
	September 30, 2005
	 	 	6.00:1.0	 
	December 31, 2005
	 	 	5.75:1.0	 
	March 31, 2006
	 	 	5.75:1.0	 
	June 30, 2006
	 	 	5.75:1.0	 
	September 30, 2006 and the last day of each
Fiscal Quarter ending thereafter
	 	 	5.50:1.0	 

     B. Fixed Charge Coverage Ratio. The Fixed Charge Coverage Ratio, as of
the last day of each Fiscal Quarter of the Company and its Subsidiaries
indicated below, shall be greater than or equal to the following:

	 	 	 	 	 
	Fiscal Quarter
	 	Ratio

	June 30, 2004
	 	 	1.00:1.0	 
	September 30, 2004
	 	 	1.00:1.0	 
	December 31, 2004
	 	 	1.10:1.0	 
	March 31, 2005
	 	 	1.10:1.0	 
	June 30, 2005
	 	 	1.10:1.0	 
	September 30, 2005
	 	 	1.10:1.0	 
	December 31, 2005
	 	 	1.10:1.0	 
	March 31, 2006
	 	 	1.05:1.0	 
	June 30, 2006
	 	 	1.05:1.0	 
	September 30, 2006
	 	 	1.05:1.0	 
	December 31, 2006
	 	 	1.05:1.0	 
	March 31, 2007
	 	 	1.05:1.0	 
	June 30, 2007
	 	 	1.05:1.0	 
	September 30, 2007 and the last day of each
Fiscal Quarter ending thereafter
	 	 	1.00:1.0	 

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     C. Interest Coverage Ratio. The Interest Coverage Ratio, as of the last
day of each Fiscal Quarter of the Company and its Subsidiaries indicated below,
shall be greater than or equal to the following:

	 	 	 	 	 
	Fiscal Quarter
	 	Ratio

	June 30, 2004
	 	 	1.40:1.0	 
	September 30, 2004
	 	 	1.45:1.0	 
	December 31, 2004
	 	 	1.45:1.0	 
	March 31, 2005
	 	 	1.50:1.0	 
	June 30, 2005
	 	 	1.60:1.0	 
	September 30, 2005
	 	 	1.65:1.0	 
	December 31, 2005
	 	 	1.65:1.0	 
	March 31, 2006
	 	 	1.65:1.0	 
	June 30, 2006 and the last day of each
Fiscal Quarter ending thereafter
	 	 	1.70:1.0	 

     D. Consolidated Capital Expenditures. Consolidated Capital Expenditures
as of the end of any Fiscal Year of the Company and its Subsidiaries for the
Fiscal Years indicated below, shall be less than or equal to the following:

	 	 	 	 	 
	 	 	Consolidated Capital
	Fiscal Year
	 	Expenditures

	2004
	 	$	15,000,000	 
	2005
	 	$	16,500,000	 
	2006
	 	$	15,000,000	 
	2007
	 	$	15,000,000	 

; provided, however, that (i) up to fifty percent (50%) of the amount referred
to above that is not so expended in the Fiscal Year for which it is permitted
may be carried over for expenditure in the next succeeding Fiscal Year and (ii)
Consolidated Capital Expenditures made pursuant to this subsection 7.6D during
any Fiscal Year shall be deemed made, first, in respect of amounts permitted
for such Fiscal fear as provided above and, second, in respect of amounts
carried over from the prior Fiscal Year pursuant to clause (i) above.

	7.7	 	Restriction on Fundamental Changes; Asset Dispositions.
	 
	 	 	The Company will not, nor will it permit any Subsidiary to,

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          (i) enter into any transaction of merger or consolidation or
dissolve, liquidate (or suffer any liquidation or dissolution) or wind up
its affairs, sell, transfer, convey, lease, sublease or otherwise dispose
of its property or assets, whether now owned or hereafter acquired, or
agree to do so at a future time, except the following, without
duplication, shall be expressly permitted:

               (a) Specified Sales;

               (b) the sale, transfer, lease or other disposition of property
or assets (A) to an unrelated party not in the ordinary course of
business (other than Specified Sales), (B) where and to the extent
that they are the result of a Recovery Event or (C) so long as such
amounts do not exceed $3,500,000 in the aggregate annually, the
sale, lease, transfer or other disposition of machinery, parts and
equipment that are obsolete, worn out, uneconomic or surplus or
otherwise no longer used or useful in the conduct of the business
of the Company or any of its Subsidiaries, as appropriate, in its
reasonable discretion, in each case so long as the net proceeds
therefrom are used or committed in writing to be used within two
hundred-seventy (270) days of the receipt of such amounts to repair
or replace damaged property or to purchase or otherwise acquire new
assets or property or to repay the Loans as set forth in subsection
2.4B(iii)(a) and (d);

               (c) the sale, lease or transfer of property or assets to (A)
the Company or any Guarantor or (B) if by a Subsidiary which is not
a Guarantor, to any other Subsidiary which is not a Guarantor;

               (d) the sale, lease or transfer of property or assets not to
exceed $5,000,000 in the aggregate in any Fiscal Year and
$15,000,000 in the aggregate during the term of this Agreement so
long as the net proceeds therefrom are used or committed in writing
to be used within two hundred-seventy (270) days of the receipt of
such amounts to repair or replace damaged property or to purchase
or otherwise acquire new assets or property or to repay the Loans
as set forth in subsection 2.4B(iii)(a);

               (e) any Subsidiary that owns no property or assets (other than
to a de minimis extent) may dissolve, liquidate or wind up its
affairs;

provided, that, in the case of a sale, lease or transfer pursuant to
subsection 7.7(i)(b)(A) and subsection 7.7(i)(d), at least 80% of the
consideration received therefor by the Company or any such Subsidiary is
in the form of cash or Cash Equivalents; provided, further, that, with
respect to sales of assets permitted hereunder only, the Administrative
Agent shall be entitled, without the consent of the Requisite Lenders, to
release its Liens relating to the particular assets sold.

To the extent the Requisite Lenders or the Lenders, as applicable, waive
the provisions of this subsection 7.7(i) with respect to the sale or
other disposition of any Collateral, or any Collateral is sold or
disposed of as permitted by this subsection 7.7(i) or subsection 7.8,
such Collateral in each case shall be sold or otherwise disposed of free
and clear of the Liens created by the Collateral Documents and the
Administrative Agent and the Collateral Agent shall take such actions as
are appropriate in connection therewith.

          (ii) (a) purchase, lease or otherwise acquire (in a single
transaction or a series of related transactions) the property or assets
of any Person (other than purchases or other acquisitions of inventory,
leases, materials, property and equipment in the ordinary course of
business, except as otherwise limited or prohibited herein) provided that
so long as no Default or Event of Default shall have occurred and be
continuing or would result therefrom, the Company may acquire all or a
majority of the Capital Stock or other ownership interest in any Person
(in a similar or related line of business, the board of directors of
which shall not have rejected initially or thereafter such acquisition
and which shall have had earnings before interest, taxes, depreciation
and amortization for the prior four Fiscal Quarters in an amount greater
than $0) or all or a substantial portion of the assets, property and/or
operations of any Person (in a similar or related line of business, the
board of directors of which shall not have rejected initially or
thereafter such acquisition and which shall have had earnings before
interest, taxes, depreciation and amortization for the prior four Fiscal
Quarters in an amount greater than $0) in an aggregate amount not to
exceed $15,000,000 in

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any Fiscal Year or $50,000,000 in the aggregate during the term of
this Agreement; provided, however that (A) after giving effect to any
such acquisition on a pro forma basis, the Leverage Ratio must be at
least .25 lower than the maximum Leverage Ratio permitted under
subsection 7.6(a) as of the end of the next Fiscal Quarter and (B) there
shall be not less than $15,000,000 of availability under subsection
2.1A(ii); or

          (b) enter into any transaction of merger or consolidation, except
for (A) Investments or acquisitions permitted pursuant to subsection 7.7
and (B) the merger or consolidation of a Loan Party with and into another
Loan Party, provided that if the Company is a party thereto, the Company
will be the surviving corporation.

	7.8	 	Sales and Lease-Backs.

     The Company will not, nor will it permit any Subsidiary to, directly or
indirectly, become or remain liable as lessee or as guarantor or other surety
with respect to any lease, whether an operating lease or a Capital Lease, of
any property (whether real, personal or mixed), whether now owned or hereafter
acquired in excess of $2,000,000 in the aggregate on an annual basis, which the
Company or any Subsidiary has sold or transferred or is to sell or transfer to
a Person which is not the Company or any Subsidiary; provided that a sale
leaseback transaction occurring within ninety (90) days of the purchase thereof
by the Company or any of its Subsidiaries, as applicable, pursuant to (a) a
Capital Lease shall be permitted hereunder to the extent that such Capital
Lease would be permitted under subsection 7.1(iv) and (b) operating lease shall
be permitted hereunder; provided, further that the Net Cash Proceeds resulting
from each of the foregoing shall be applied in accordance with subsection
2.4B(iii)(a).

	7.9	 	Sale or Discount of Receivables.

     The Company shall not, and shall not permit any of its Subsidiaries to,
directly or indirectly, sell with recourse, or discount or otherwise sell for
less than the face value thereof, any of its notes or accounts receivable,
other than sales in an aggregate amount not to exceed $5,000,000 during the
term of this Agreement.

	7.10	 	Transactions with Shareholders and Affiliates.

     Except (a) those transactions contemplated by the agreements set forth on
Schedule 7.10 (as such agreements may be amended or replaced from time to time
in a manner that is not adverse to the Lenders in any material respect), (b) as
permitted in subsection (iv) of the definition of Permitted Investments or in
subsection 7.5, and (c) transactions otherwise permitted hereunder (including
without limitation under subsection 7.5 and subsection 7.13), or among the
Company and any Guarantors or among Guarantors, the Company will not, nor will
it permit any Subsidiary to, enter into any transaction or series of
transactions, whether or not in the ordinary course of business, with any
officer, director, shareholder or Affiliate other than on terns and conditions
substantially as favorable as would be obtainable in a comparable arm’s-length
transaction with a Person other than an officer, director, shareholder or
Affiliate.

	7.11	 	Ownership of Subsidiary Stock.

     The Company will not, nor will it permit any Subsidiary to, create, form
or acquire any Subsidiaries, except for Domestic Subsidiaries which are joined
as additional Loan Parties in accordance with the terms hereof. The Company
will not sell, transfer, pledge or otherwise dispose of any Capital Stock or
other equity interests in any of its Subsidiaries, nor will it permit any of
its Subsidiaries to issue, sell, transfer, pledge or otherwise dispose of any
of their Capital Stock or other equity interests, except in a transaction
permitted by subsection 7.7.

	7.12	 	Limitation on Restricted Actions.

     The Company will not, nor will it permit any Subsidiary to, directly or
indirectly, create or otherwise cause or suffer to exist or become effective
any encumbrance or restriction on the ability of any such Person to (a) pay
dividends or make any other distributions to any Loan Party on its Capital
Stock or with respect to any other interest or participation in, or measured
by, its profits, (b) pay any Indebtedness or other obligation owed to any Loan
Party, (c) make loans or advances to any Loan Party, (d) sell, lease or
transfer any of its properties or assets to any Loan

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Party, or (e) act as a Guarantor and pledge its assets pursuant to the
Loan Documents or any renewals, refinancings, exchanges, refundings or
extension thereof, except (in respect of any of the matters referred to in
clauses (a) through (d) above) for such encumbrances or restrictions existing
under or by reason of (i) this Agreement and the other Loan Documents, (ii)
Applicable Law, (iii) any document or instrument governing Indebtedness
incurred pursuant to subsection 7.1(iv), (vii) and (xi), provided that any such
restriction contained therein relates only to the asset or assets constructed
or acquired in connection therewith, (iv) any Permitted Lien or any document or
instrument governing any Permitted Lien, provided that any such restriction
contained therein relates only to the asset or property subject to such
Permitted Lien, (v) any instrument governing Indebtedness acquired in
connection with a Permitted Acquisition, so long as such Indebtedness was not
incurred in contemplation of such acquisition, (vi) customary non-assignment
provisions in leases or other agreements entered in the ordinary course of
business and consistent with past practices, (vii) customary restrictions
pursuant to an agreement that has been entered into for the sale, transfer,
lease or other disposition permitted under this Agreement so long as such
restrictions apply only to the property or assets subject to such agreement,
and (viii) the Subordinated Debt Documents and the Second Lien Credit
Agreement.

	7.13	 	Modifications of Indebtedness, etc.

     A. Indebtedness. The Company shall not, and shall not permit any of its
Subsidiaries to, amend or otherwise change the terms of the Subordinated Debt
Documents or the Second Lien Credit Agreement, or make any payment consistent
with an amendment thereof or change thereto, if the effect of such amendment or
change is to increase the interest rate on such Indebtedness, change (to
earlier dates) any dates upon which payments of principal or interest are due
thereon, change any event of default or condition to an event of default with
respect thereto (other than to eliminate any such event of default or increase
any grace period or threshold related thereto), change the redemption,
prepayment or defeasance provisions thereof (other than (i) to reduce any
premium payable or (ii) to provide for or increase any prepayment premium in
exchange for a decrease in the applicable interest rate thereon), change the
subordination provisions thereof (or of any guaranty thereof), or change any
collateral therefor (other than to release such collateral), or if the effect
of such amendment or change, together with all other amendments or changes
made, is to increase the obligations of the obligor thereunder or to confer any
additional rights on the holders of such Indebtedness (or trustee or other
representative on their behalf) which would be adverse to the Company, any of
its Subsidiaries or the Lenders.

     B. Preferred Stock. (i) Neither the Company nor any Subsidiary of the
Company shall amend, restate, supplement or otherwise modify its Organizational
Certificate if the effect of such amendment, restatement, supplement or
modification is to provide for the issuance of any preferred stock of the
Company other than the Preferred Stock.

     (ii) The Company shall not, and shall not permit any of its Subsidiaries to
amend or otherwise change the terms of the Preferred Stock or the certificate
of designations related thereto in a manner which would be adverse to the
Company, any of its Subsidiaries or the Lenders (it being understood that any
amendment or waiver to the change of control provisions under such documents
shall not be construed as adverse to the Company, any of its Subsidiaries or
the Lenders).

	7.14	 	No Further Negative Pledges.

     The Company will not, nor will it permit any Subsidiary to, enter into,
assume or become subject to any agreement prohibiting or otherwise restricting
the creation or assumption of any Lien upon its properties or assets, whether
now owned or hereafter acquired, or requiring the grant of any security for
such obligation if security is given for some other obligation, except (a)
pursuant to this Agreement and the other Loan Documents, (b) pursuant to any
document or instrument governing Indebtedness incurred pursuant to subsection
7.1(iv), (vii) and (xi); provided that any such restriction contained therein
relates only to the asset or assets constructed or acquired in connection
therewith, (c) in connection with any Permitted Lien or any document or
instrument governing any Permitted Lien, provided that any such restriction
contained therein relates only to the asset or assets subject to such Permitted
Lien, (d) any instrument governing Indebtedness acquired in an acquisition
permitted under subsection 7.7(ii) so long as such Indebtedness was not
incurred in contemplation of such acquisition, (e) customary nonassignment
provisions in leases or other agreements entered in the ordinary course of
business and consistent with past practices, (f) customary restrictions
pursuant to an agreement that has been entered into for the sale, transfer,
lease or other dispo-

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sition permitted under this Agreement so long as such restrictions apply
only to the property or assets subject to such agreement and (g) the
Subordinated Debt Documents and the Second Lien Credit Agreement.

	7.15	 	Fiscal Year; Organizational Documents; Material Contracts.

     Neither the Company nor any of its Subsidiaries shall change its Fiscal
Year-end from December 31. The Company will not, nor will it permit any
Subsidiary to, amend, modify or change its articles of incorporation (or
corporate charter or other similar organizational document) or bylaws (or other
similar document) in a manner adverse in any material respect to the rights and
interests of the Lenders under the Credit Documents without the prior written
consent of the Requisite Lenders or the Administrative Agent on behalf of the
Requisite Lenders. The Company will not, nor will it permit any of its
Subsidiaries to, without the prior written consent of the Administrative Agent,
amend, modify, cancel or terminate or fail to renew or extend or permit the
amendment, modification, cancellation or termination of any of the Material
Contracts, except in the event that such amendments, modifications,
cancellations or terminations would not reasonably be expected to have a
Material Adverse Effect at the time such amendments, modifications,
cancellations or terminations are made.

SECTION 8.

EVENTS OF DEFAULT

     If
any of the following conditions or events (“Events of Default”) shall occur:

	8.1	 	Failure To Make Payments When Due.

     Failure by the Company to pay any installment of principal of any Loan
when due, whether at stated maturity, by acceleration, by notice of prepayment
or otherwise, failure by the Company to pay when due any amount payable to an
Issuing Bank in reimbursement of any drawing honored or payment made under a
Letter of Credit; or failure by the Company to pay any interest on any Loan or
any fee or any other amount due under this Agreement or any other Loan Document
within three (3) Business Days after the date due.

	8.2	 	Default in Other Agreements.

     (i) Failure of the Company or any of its Subsidiaries to pay when due (a)
any principal of or interest on any Indebtedness (other than Indebtedness
referred to in subsection 8.1) in a principal amount outstanding of $5,000,000
or more or (b) any Guaranty Obligation in a principal amount of $5,000,000 or
more, in each case beyond the end of any grace period provided therefor; or
(ii) breach or default by the Company or any of its Subsidiaries with respect
to any other term of (a) any evidence of any Indebtedness in a principal amount
of $5,000,000 or more or any Guaranty Obligation in a principal amount of
$5,000,000 or more or (b) any loan agreement, mortgage, indenture or other
agreement relating to such Indebtedness or Guaranty Obligation(s), or the
occurrence of any other event, condition or circumstance in respect of any such
Indebtedness or Guaranty Obligations if in any case under this clause (ii) the
effect of such breach or default or event, condition or circumstance is to
cause, or to permit the holder or holders of that Indebtedness or Guaranty
Obligation(s) (or a trustee on behalf of such holder or holders) to cause, that
Indebtedness or Guaranty Obligation(s) to become or be declared due and payable
(or redeemable) prior to its stated maturity or the stated maturity of any
underlying obligation, as the case may be (upon the giving or receiving of
notice, lapse of time, both, or otherwise).

	8.3	 	Breach of Certain Covenants.

     (i) Failure of any Loan Party to perform or comply with any term or
condition contained in subsection 2.4, 6.1(ix), 6.2, 6.15, or Section 7 of this
Agreement; or (ii) failure of any Loan Party to perform or comply with any
other term or condition contained in this Agreement or any other Loan Document,
and, in the case of this clause (ii) only, such default shall not have been
remedied or waived within thirty (30) Business Days after the earlier to occur
of (A) any Responsible Officer becoming aware of such failure to perform or
comply and (B) notice by the Administrative Agent to the Company thereof.

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	8.4	 	Breach of Warranty.

     Any representation, warranty, certification or other statement made by the
Company or any other Loan Party in any Loan Document or in any statement or
certificate at any time given by the Company or any other Loan Party in writing
pursuant hereto or thereto or in connection herewith or therewith shall be
false in any material respect on the date as of which made.

	8.5	 	[Intentionally Omitted].
	 
	8.6	 	Involuntary Bankruptcy; Appointment of Receiver, etc.

     (i) A court having jurisdiction in the premises shall enter a decree or
order for relief in respect of the Company or any of its Subsidiaries in an
involuntary case under the Bankruptcy Code or under any other applicable
bankruptcy, insolvency or similar law now or hereafter in effect, which decree
or order is not stayed; or any other similar relief shall be granted under any
applicable federal or state law; or (ii) an involuntary case shall be commenced
against the Company or any of its Subsidiaries under the Bankruptcy Code or
under any other applicable bankruptcy, insolvency or similar law now or
hereafter in effect; or a decree or order of a court having jurisdiction in the
premises for the appointment of a receiver, liquidator, sequestrator, trustee,
custodian or other officer having similar powers over the Company or any of its
Subsidiaries, or over all or a substantial part of its property, shall have
been entered; or there shall have occurred the involuntary appointment of an
interim receiver, trustee or other custodian of the Company or any of its
Subsidiaries for all or a substantial part of its property; or a warrant of
attachment, execution or similar process shall have been issued against any
substantial part of the property of the Company or any of its Subsidiaries, and
any such event described in this clause (ii) shall continue for sixty (60) days
unless dismissed, bonded or discharged.

	8.7	 	Voluntary Bankruptcy; Appointment of Receiver, etc.

     (i) The Company or any of its Subsidiaries shall have an order for relief
entered with respect to it or commence a voluntary case under the Bankruptcy
Code or under any other applicable bankruptcy, insolvency or similar law now or
hereafter in effect, or shall consent to the entry of an order for relief in an
involuntary case, or to the conversion of an involuntary case to a voluntary
case, under any such law, or shall consent to the appointment of or taking
possession by a receiver, trustee or other custodian for all or a substantial
part of its property; or the Company or any of its Subsidiaries shall make any
assignment for the benefit of creditors; or (ii) the Company or any of its
Subsidiaries shall be unable, or shall fail generally, or shall admit in
writing its inability, to pay its debts as such debts become due; or the Board
of Directors of the Company or any of its Subsidiaries (or any committee
thereof) shall adopt any resolution or otherwise authorize any action to
approve any of the actions referred to in clause (i) above or this clause (ii).

	8.8	 	Judgments and Attachments.

     Any money judgment, writ or warrant of attachment or similar process
involving in the aggregate at any time an amount in excess of $5,000,000 (in
either case not adequately covered by insurance as to which a solvent and
unaffiliated insurance company has acknowledged coverage) shall be entered or
filed against the Company or any of its Subsidiaries or any of their respective
assets and shall remain undischarged, unvacated, unbonded or unstayed for a
period of thirty (30) Business Days (or in any event later than five days prior
to the date of any proposed sale thereunder).

	8.9	 	Dissolution.

     Any order, judgment or decree shall be entered against the Company or any
of its Subsidiaries decreeing the dissolution or split up of the Company or
that Subsidiary and such order shall remain undischarged or unstayed for a
period in excess of sixty (60) days.

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	8.10	 	Employee Benefit Plans.

     (i) Any Person shall engage in any “prohibited transaction” (as defined
in Section 406 of ERISA or Section 4975 of the Code) involving any Plan, (ii)
any “accumulated funding deficiency” (as defined in Section 302 of ERISA or
Section 412 of the Code), whether or not waived, shall exist with respect to
any Plan or any Lien in favor of the PBGC may reasonably be expected to arise
on the assets of the Company or any Commonly Controlled Entity, (iii) a
Reportable Event shall occur with respect to, or proceedings shall commence to
have a trustee appointed, or a trustee shall be appointed, to administer or to
terminate, any Single Employer Plan, which Reportable Event or commencement of
proceedings or appointment of a Trustee is likely to result in the termination
of such Plan for purposes of Title IV of ERISA, (iv) any Single Employer Plan
shall terminate for purposes of Title IV of ERISA, (v) the Company, any of its
Subsidiaries or any Commonly Controlled Entity shall, or is likely to, incur
any liability in connection with a withdrawal from, or the Insolvency or
Reorganization of, any Multiemployer Plan or (vi) any other similar event or
condition shall occur or exist with respect to a Plan; and in each case in
clauses (i) through (vi) above, such event or condition, individually or
together with all other such events or conditions, if any, could have a
Material Adverse Effect.

	8.11	 	Change in Control.
	 
	 	 	There shall occur a Change of Control.
	 
	8.12	 	Invalidity of Guaranties.

     At any time after the execution and delivery thereof, any Guaranty of the
Obligations of the Company for any reason, other than the satisfaction in full
of all Obligations (or any other termination thereof in accordance with the
terms hereof or thereof) shall cease to be in full force and effect or be
declared null and void, or any Loan Party shall deny in writing that it has any
further liability, including without limitation with respect to future advances
by the Lenders, under any Loan Document to which it is a party.

	8.13	 	Failure of Security.

     Any Collateral Document shall, at any time, cease to be in full force and
effect (other than by reason of a release of Collateral thereunder in
accordance with the terms hereof or thereof, the satisfaction in full of the
Obligations or any other termination of such Collateral Document in accordance
with the terms hereof or thereof) or shall be declared null and void, or the
validity or enforceability thereof shall be contested in writing by any Loan
Party, or the Collateral Agent shall not have or shall cease to have a valid
security interest in any Collateral purported to be covered thereby, perfected
and with at least the priority required by the relevant Collateral Document, in
each case in excess of a period of five (5) Business Days and for any reason
other than the failure of the Collateral Agent, the Administrative Agent or any
Lender to take any action within its control, subject only to Liens permitted
under the applicable Collateral Documents and the Permitted Liens.

THEN (i) upon the occurrence of any Event of Default described in subsection
8.6 or 8.7, each of (a) the unpaid principal amount of and accrued interest on
the Loans, (b) an amount equal to the maximum amount that may at any time be
drawn under all Letters of Credit then outstanding (whether or not any
beneficiary under any such Letter of Credit shall have presented, or shall be
entitled at such time to present, the drafts or other documents or certificates
required to draw under such Letter of Credit) and (c) all other Obligations
shall automatically become immediately due and payable, without presentment,
demand, protest or other requirements of any kind, all of which are hereby
expressly waived by the Company, and the obligation of each Lender to make any
Loan, and of the Issuing Bank to issue any Letter of Credit shall thereupon
terminate, and (ii) upon the occurrence and during the continuation of any
other Event of Default, the Administrative Agent shall, upon the written
request of the Requisite Lenders, by written notice to the Company, declare all
or any portion of the amounts described in clauses (a) through (c) above to be,
and the same shall forthwith become, immediately due and payable, and the
obligation of each Lender to make any Loan and of the Issuing Bank to issue any
Letter of Credit shall thereupon terminate; provided that the foregoing shall
not affect in any way the obligations of the Lenders under subsection 3.3C(i).

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     Any amounts described in clause (i)(b) above, when received by the
Administrative Agent or the Collateral Agent, shall be held by the Collateral
Agent pursuant to the terms of the Collateral Account Agreement and shall be
applied as therein provided.

     Notwithstanding anything contained in the second preceding paragraph, if
at any time within sixty (60) days after an acceleration of the Loans pursuant
to such paragraph the Company shall pay all arrears of interest and all
payments on account of principal which shall have become due otherwise than as
a result of such acceleration (with interest on principal and, to the extent
permitted by law, on overdue interest, at the rates specified in this
Agreement) and all Defaults and Events of Default (other than non-payment of
the principal of and accrued interest on the Loans, in each case which is due
and payable solely by virtue of acceleration) shall be remedied or waived
pursuant to subsection 10.5, then the Requisite Lenders, by written notice to
the Company, may at their option rescind and annul such acceleration and its
consequences; but such action shall not affect any subsequent Default or Event
of Default or impair any right consequent thereon. The provisions of this
paragraph are intended merely to bind the Lenders to a decision which may be
made at the election of the Requisite Lenders and are not intended to benefit
the Company and do not grant the Company the right to require the Lenders to
rescind or annul any acceleration hereunder or preclude the Agents or the
Lenders from exercising any of the rights or remedies available to them under
any of the Loan Documents, even if the conditions set forth in this paragraph
are met.

SECTION 9.

AGENTS

	9.1	 	Appointment.

     A. Appointment Authority. Each of the Lenders and the Issuing Bank hereby
irrevocably appoints CSFB as the Administrative Agent and Collateral Agent
hereunder and under the other Loan Documents and authorizes CSFB, in such
capacities, to take such actions on its behalf and to exercise such powers as
are delegated to CSFB in such capacities by the terms hereof or thereof,
together with such actions and powers as are reasonably incidental thereto. In
addition, each of the Lenders and the Issuing Bank hereby irrevocably appoints
WCM and LCPI as Co-Syndication Agents hereunder. The Co-Syndication Agents,
each in its capacity as such, shall have no duties, obligations or liabilities
of any kind hereunder. Each Agent agrees to act upon the express conditions
contained in this Agreement and the other Loan Documents, as applicable. In
performing its functions and duties under this Agreement, each Agent shall act
solely as an agent of the Lenders and does not assume and shall not be deemed
to have assumed any obligation towards or relationship of agency or trust with
or for the Company or any of its Subsidiaries. The provisions of this Section
are solely for the benefit of the Agents, the Lenders and the Issuing Bank and
the Company shall not have rights as a third party beneficiary of any of such
provisions.

     B. Appointment of Supplemental Collateral Agents. It is the purpose of
this Agreement and the other Loan Documents that there shall be no violation of
any law of any jurisdiction denying or restricting the right of banking
corporations or associations to transact business as agent or trustee in such
jurisdiction. It is recognized that in case of litigation under this Agreement
or any of the other Loan Documents, and in particular in case of the
enforcement of any of the Loan Documents, or in case the Administrative Agent
or the Collateral Agent deems that by reason of any present or future law of
any jurisdiction the Administrative Agent or the Collateral Agent may not
exercise any of the rights, powers or remedies granted herein or in any of the
other Loan Documents or take any other action which may be desirable or
necessary in connection therewith, it may be necessary that the Administrative
Agent or the Collateral Agent appoint an additional individual or institution
as a separate trustee, co-trustee, collateral agent or collateral co-agent (any
such additional individual or institution being referred to herein individually
as a “Supplemental Collateral Agent” and collectively as “Supplemental
Collateral Agents”).

     In the event that the Administrative Agent or the Collateral Agent
appoints a Supplemental Collateral Agent with respect to any Collateral, (i)
each and every right, power, privilege or duty expressed or intended by this
Agreement or any of the other Loan Documents to be exercised by or vested in or
conveyed to the Administrative Agent or the Collateral Agent with respect to
such Collateral shall be exercisable by and vest in such Supplemental
Collateral Agent to the extent, and only to the extent, necessary to enable
such Supplemental Collateral Agent to exercise such rights, powers and
privileges with respect to such Collateral and to perform such duties with
respect to such Collateral, and every covenant and obligation contained in the
Loan Documents and necessary to the exercise or performance thereof by such
Supplemental Collateral Agent shall run to and be enforceable by either the
Admin-

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istrative Agent or the Collateral Agent or such Supplemental Collateral
Agent, and (ii) the provisions of this Section 9 and of subsection 10.2 that
refer to the Administrative Agent or the Collateral Agent shall inure to the
benefit of such Supplemental Collateral Agent and all references therein to the
Administrative Agent or the Collateral Agent shall be deemed to be references
to the Administrative Agent or the Collateral Agent and/or such Supplemental
Collateral Agent, as the context may require.

     Should any instrument in writing from the Company or any other Loan Party
be reasonably required by any Supplemental Collateral Agent so appointed by the
Administrative Agent or the Collateral Agent for more fully and certainly
vesting in and confirming to him or it such rights, powers, privileges and
duties, the Company shall, or shall cause such Loan Party to, execute,
acknowledge and deliver any and all such instruments reasonably promptly upon
request by the Administrative Agent or the Collateral Agent. In case any
Supplemental Collateral Agent, or a successor thereto, shall die, become
incapable of acting, resign or be removed, all the rights, powers, privileges
and duties of such Supplemental Collateral Agent, to the extent permitted by
law, shall vest in and be exercised by the Administrative Agent or the
Collateral Agent until the appointment of a new Supplemental Collateral Agent.

	9.2	 	Rights as a Lender.

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

	9.3	 	Exculpatory Provisions.

     The Agents shall not have any duties or obligations except those expressly
set forth herein and in the other Loan Documents. Without limiting the
generality of the foregoing, the Agents (i) shall not be subject to any
fiduciary or other implied duties, regardless of whether a Default or an Event
of 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 Agents are required to exercise as directed in writing
by the Requisite Lenders (or such other number or percentage of the relevant
Lenders as shall be necessary under the circumstances as provided in subsection
10.5); provided that no Agent shall be required to take any action that, in its
opinion or the opinion of its counsel, may expose such Agent to liability or
that is contrary to any Loan Document or applicable 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 an Agent or any of its
Affiliates in any capacity. No Agent shall be liable for any action taken or
not taken by it with the consent or at the request of the Requisite Lenders (or
such other number or percentage of the Lenders as shall be necessary under the
circumstances as provided in subsection 10.5) or in the absence of its own
gross negligence or willful misconduct. No Agent shall be deemed to have
knowledge of any Default or Event of Default unless and until notice thereof is
given to such Agent by the Company, a Lender or the Issuing Bank. The Agents
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 or Event of Default, (iv) the validity,
enforceability, effectiveness or genuineness of this Agreement or any other
Loan Document or any other agreement, instrument or document or (v) the
satisfaction of any condition set forth in Section 4 or elsewhere herein, other
than to confirm receipt of items expressly required to be delivered to the
Agents.

	9.4	 	Reliance by the Agents.

     The Agents 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, post-

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ing or other distribution) believed by it to be genuine and to have been
signed, sent or otherwise authenticated by the proper Person. The Agents 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 such Loan or issuance of such Letter of Credit that by its terms
must be fulfilled to the satisfaction of a Lender or the Issuing Bank, the
Agents may presume that such condition is satisfactory to such Lender unless
the Agents shall have received notice to the contrary from such Lender or the
Issuing Bank prior to the making of such Loan or issuance of such Letter of
Credit. The Agents 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.

	9.5	 	Delegation of Duties.

     Each Agent may perform any and all of its duties and exercise its rights
and powers hereunder or under any other Loan Document by or through any one or
more sub-agents appointed by such Agent. The Agents 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
subsection 9.3 shall apply to any such sub-agent and to the Related Parties of
such Agent and any such sub-agent, and shall apply to their respective
activities in connection with the syndication of the credit facilities provided
for herein as well as activities as such Agent.

	9.6	 	Resignation of Administrative Agent and/or Collateral Agent;
Successor Swing Line Lender.

     A. Resignation of the Administrative Agent. The Administrative Agent
and/or Collateral Agent may at any time give notice of its resignation to the
Lenders, the Issuing Bank and the Company. Upon receipt of any such notice of
resignation, the Requisite Lenders shall have the right, in consultation with
the Company, to appoint a successor Administrative Agent and/or Collateral
Agent, as applicable, which shall be a bank with an office in New York, or an
Affiliate of any such bank with an office in New York. If no such successor
shall have been so appointed by the Requisite Lenders and shall have accepted
such appointment within thirty (30) days after the retiring Administrative
Agent and/or Collateral Agent as the case may be, gives notice of its
resignation, then the retiring Administrative Agent may on behalf of the
Lenders and the Issuing Bank, appoint a successor Administrative Agent and/or
Collateral Agent, as applicable, meeting the qualifications set forth above;
provided that if the Administrative Agent and/or Collateral Agent, as
applicable, shall notify the Company and the Lenders that no such successor is
willing to accept such appointment, then such resignation shall nonetheless
become effective in accordance with such notice and (1) the retiring
Administrative Agent and/or Collateral Agent, as applicable, 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 Administrative Agent and/or Collateral Agent, as
applicable, shall instead be made by or to each Lender and the Issuing Bank
directly, until such time as the Requisite Lenders appoint a successor
Administrative Agent and/or Collateral Agent, as applicable, as provided for
above in this paragraph. Upon the acceptance of a successor’s appointment as
Administrative Agent and/or Collateral Agent, as applicable 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 and/or
Collateral Agent, as applicable, and the retiring Administrative Agent and/or
Collateral Agent, as applicable shall be discharged from all of its duties and
obligations hereunder or under the Loan Documents. The fees payable by the
Company to a successor Administrative Agent and/or Collateral Agent, as
applicable, shall be the same as those payable to its predecessor unless
otherwise agreed between the Company and such successor. After the retiring
Administrative Agent’s and/or Collateral Agent’s resignation hereunder and
under the other Loan Documents, the provisions of this Section 9 and subsection
10.2 shall continue in effect for the benefit of such retiring Administrative
Agent and/or Collateral Agent, as applicable, 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 and/or Collateral
Agent, as applicable was acting in such capacity.

     B. Successor Swing Line Lender. Any resignation of the Administrative
Agent pursuant to subsection 9.6A shall also constitute the resignation of CSFB
or its successor as the Swing Line Lender, and any successor Administrative
Agent appointed pursuant to subsection 9.6A shall, upon its acceptance of such
appointment, become the successor Swing Line Lender for all purposes hereunder.
In such event (i) the Company shall prepay any outstanding Swing Line Loans
made by the retiring Administrative Agent in its capacity as Swing Line Lender,
(ii) upon such prepayment, the retiring Administrative Agent and Swing Line
Lender shall surrender the Swing Line

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Note held by it to the Company for cancellation, and (iii) the Company
shall issue a new Swing Line Note to the successor Administrative Agent and
Swing Line Lender in the principal amount of the Swing Line Loan Commitment
then in effect and with other appropriate insertions.

	9.7	 	Collateral Documents.

     Each Lender hereby further authorizes the Collateral Agent to enter into
each Collateral Document as secured party on behalf of and for the benefit of
the Lenders and the other beneficiaries named therein and agrees to be bound by
the terms of each Collateral Document; provided that the Collateral Agent shall
not enter into or consent to any amendment, modification, termination or waiver
of any provision contained in any Collateral Document without the prior consent
of the Requisite Lenders (or, if required pursuant to subsection 10.5, all the
Lenders); provided further, however, that, without further written consent or
authorization from any Lender, the Collateral Agent may execute any documents
or instruments necessary to effect the release of any asset constituting
Collateral from the Lien of the applicable Collateral Document in the event
that such asset is sold or otherwise disposed of in a transaction effected in
accordance with subsection 7.7 or to the extent otherwise required by any
Collateral Document. Anything contained in any of the Loan Documents to the
contrary notwithstanding, each Lender agrees that no Lender shall have any
right individually to realize upon any of the Collateral under any Collateral
Document (including without limitation through the exercise of a right of
set-off against call deposits of such Lender in which any funds on deposit in
the Collateral Account may from time to time be invested), it being understood
and agreed that all rights and remedies under the Collateral Documents may be
exercised solely by the Collateral Agent for the benefit of the Lenders and the
other beneficiaries named therein in accordance with the terms thereof.

	9.8	 	Non-Reliance on Agents and Other Lenders.

     Each Lender and each Issuing Bank acknowledges that it has, independently
and without reliance upon any 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 and each Issuing Bank also acknowledges that it will,
independently and without reliance upon any 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 10.

MISCELLANEOUS

	10.1	 	Assignments and Participations in Loans.

     A. Successors and Assigns Generally. The provisions of this Agreement
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby, except that the Company may
not assign or otherwise transfer any of its rights or obligations hereunder
without the prior written consent of each Lender and the Administrative Agent
and no Lender may assign or otherwise transfer any of its rights or obligations
hereunder except (i) to an Eligible Assignee in accordance with the provisions
of subsection 10.1B, (ii) by way of participation in accordance with the
provisions of subsection 10.1D or (iii) by way of pledge or assignment of a
security interest subject to the restrictions of subsection 10.1F (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
subsection 10.11) and, to the extent expressly contemplated hereby, the Related
Parties of each of the Administrative Agent and the Lenders) any legal or
equitable right, remedy or claim under or by reason of this Agreement.

     B. Assignments by Lenders. Any Lender may at any time assign to one or
more Eligible Assignees all or a portion of its rights and obligations under
this Agreement (including all or a portion of its Commitment and the Loans and
Letters of Credit at the time owing to it); provided that

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      (i) except in the case of an assignment of the entire remaining
amount of the assuming Lender’s Commitment, Loans and Letters of Credit
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, Loans or Letters of Credit subject to
each such assignment (determined as of the date of the Assignment
Agreement with respect to such assignment is delivered to the
Administrative Agent) shall not be less than $1,000,000 or an integral
multiple of $1,000,000 in excess thereof, unless each of the
Administrative Agent and, so long as no Event of Default has occurred and
is continuing, the Company otherwise consent (each such consent not to be
unreasonably withheld or delayed and such approval to be deemed to have
been given if a response is not received within five Business Days from
the date on which request for approval was received by the applicable
Person);

      (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 Commitments, Loans or Letters of
Credit assigned;

      (iii) any assignment of a Revolving Loan Commitment must be approved
by the Administrative Agent and the Issuing Bank (not to be unreasonably
withheld or delayed); and

      (iv) the parties to each assignment shall execute and deliver to the
Administrative Agent an Assignment Agreement, together with a processing
and recordation fee of $3,500 in the case of assignments not made using
an electronic settlement system (with only one such fee to be payable in
connection with concurrent assignments of Approved Funds and/or
Affiliates of Lenders that are Related Parties), and the Eligible
Assignee, if it shall not be a Lender, shall deliver to the
Administrative Agent an Administrative Questionnaire and if required,
applicable tax forms.

     Subject to acceptance and recording thereof by the Administrative Agent
pursuant to subsection 10.1 C, from and after the effective date specified in
each Assignment Agreement, the Eligible Assignee thereunder shall be a party to
this Agreement and, to the extent of the interest assigned by such Assignment
Agreement, 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 Agreement, be released from its obligations under
this Agreement (and, in the case of an Assignment Agreement 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 subsections 2.7 and 10.2 with respect to facts and circumstances
occurring prior to the effective date of such assignment. Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does
not comply with this paragraph shall be treated for purposes of this Agreement
as a sale by such Lender of a participation in such rights and obligations in
accordance with subsection 10.1 D.

     C. The Register. The Administrative Agent, acting solely for this purpose
as an agent of the Company, shall maintain at one of its offices in New York
City a copy of each Assignment Agreement delivered to it and a register for the
recordation of the names and addresses of the Lenders, and the Commitments of,
and principal amounts of the Loans owing to, each Lender pursuant to the terms
hereof from time to time (the “Register”). The entries in the Register shall
be conclusive absent manifest error, and the Company, the Administrative Agent
and the Lenders may treat each Person whose name is recorded in the Register
pursuant to the terms hereof as a Lender hereunder for all purposes of this
Agreement, notwithstanding notice to the contrary. The Register shall be
available for inspection by the Company at any reasonable time and from time to
time upon reasonable prior notice.

     D. Participations. Any Lender may at any time, without the consent of, or
notice to, the Company or the 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 Commitment and/or the Loans owing to it); provided that

      (i) such Lender’s obligations under this Agreement shall remain
unchanged,

      (ii) such Lender shall remain solely responsible to the other
parties hereto for the performance of such obligations, and

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      (iii) the Company, the Administrative 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.

     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 with respect to any action (i)
effecting the extension of the final maturity of the Loan allocated to such
participation, (ii) effecting a reduction of the principal amount of or the
rate of interest payable on any Loan or any fee allocated to such
participation, (iii) releasing all or substantially all of the Collateral, or
(iv) releasing all or substantially all of the Guarantors from their
obligations under the Guaranties, and all amounts payable by the Company
hereunder. Subject to subsection 10.1E, the Company agrees that each
Participant shall be entitled to the benefits of subsection 2.7 to the same
extent as if it were a Lender and had acquired its interest by assignment
pursuant to subsection 10.1 B. To the extent permitted by law, each
Participant also shall be entitled to the benefits of subsection 10.3 as though
it were a Lender, provided such Participant agrees to be subject to subsection
10.4 as though it were a Lender.

     E. Limitations Upon Participant Rights. A Participant shall not be
entitled to receive any greater payment under subsection 2.7 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 Company’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 subsection 2.7E unless the Company is notified of
the participation sold to such Participant and such Participant agrees, for the
benefit of the Company, to comply with the provisions of subsection 2.7E as
though it were a Lender.

     F. Certain Pledges. Any Lender may at any time pledge or assign a
security interest in all or any portion of its rights under this Agreement to
secure obligations of such Lender, including without limitation 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. Notwithstanding anything to the contrary contained herein, any Lender
that is a Fund may create a security interest in all or any portion of the
Loans owing to it and the Notes, if any, held by it to the trustee for holders
of obligations owed, or securities issued, by such Fund as security for such
obligations or securities; provided that unless and until such trustee actually
becomes a Lender in compliance with the other provisions of this subsection
10.1, (i) no such pledge shall release the pledging Lender from any of its
obligations under this Agreement and (ii) such trustee shall not be entitled to
exercise any of the rights of a Lender under this Agreement and the Notes even
though such trustee may have acquired ownership rights with respect to the
pledged interest through foreclosure or otherwise.

     G. SPV Lender. Notwithstanding anything to the contrary contained herein,
any Lender (a “Granting Lender”) may grant to a special purpose funding vehicle
(a “SPV”), identified as such in writing from time to time by the Granting
Lender to the Administrative Agent and the Company, the option to provide to
the Company all or any part of any Loan that such Granting Lender would
otherwise be obligated to make the Company pursuant to this Agreement; provided
that (i) nothing herein shall constitute a commitment by any SPV to make any
Loan, (ii) if an SPV elects not to exercise such option or otherwise fails to
provide all or any part of such Loan, the Granting Lender shall be obligated to
make such Loan pursuant to the terms hereof. The making of a Loan by an SPV
hereunder shall utilize the Commitment of the Granting Lender to the same
extent, and as if, such Loan were made by such Granting Lender. Each party
hereto hereby agrees that no SPV shall be liable for any indemnity or similar
payment obligation under this Agreement (all liability for which shall remain
with the Granting Lender). 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 under the laws of the United States or any State thereof. In
addition, notwithstanding anything to the contrary contained in this subsection
10.1, any SPV may (i) with notice to, but without the prior written consent of,
the Company and the Administrative Agent and without paying any processing fee
therefor, assign all or a portion of its interests in any Loans to the Granting
Lender or to any financial institutions (consented to by the Company and
Administrative

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Agent) providing liquidity and/or credit support to or for the account of
such SPV to support the funding or maintenance of Loans and (ii) disclose on a
confidential basis any non-public information relating to its Loans to any
rating agency, commercial paper dealer or provider of any surety, guarantee or
credit or liquidity enhancement to such SPV. This subsection 10.1 may not be
amended without the written consent of the SPV. Notwithstanding anything to
the contrary in this Agreement, no SPV shall be entitled to any greater rights
under subsection 2.7E than its Granting Lender would have been entitled to
absent the use of such SPV.

	10.2	 	Expenses; Indemnity; Damage Waiver.

     A. Costs and Expenses. The Company shall pay (i) all reasonable and
documented out-of-pocket expenses incurred by the Administrative Agent and its
Affiliates, including the reasonable fees, charges and disbursements of counsel
for the Administrative Agent and Collateral 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 Loan 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 and documented
out-of-pocket expenses incurred by the Issuing Bank in connection with the
issuance, amendment, renewal or extension of any Letter of Credit or any demand
for payment thereunder; and (iii) all reasonable and documented out-of-pocket
expenses incurred by the Administrative Agent, the Collateral Agent, any Lender
or the Issuing Bank, including the fees, charges and disbursements of any
counsel for the Administrative Agent, any Lender or the Issuing Bank, in
connection with the enforcement or protection of its rights in connection with
this Agreement and the other Loan Documents, including its rights under this
subsection 10.2.A, or in connection with the Loans made or Letters of Credit
issued hereunder, including all such reasonable and documented out-of-pocket
expenses incurred during any workout, restructuring or negotiations in respect
of such Loans or Letters of Credit.

     B. Indemnification by the Company. The Company shall indemnify each Agent
(and any sub-Agent thereof), each Lender and the Issuing Bank and each Related
Party of any of the foregoing Persons (each such Person being called an
"Indemnitee”) against, and hold each Indemnitee harmless from, any and all
losses, claims, damages, liabilities and related expenses, including the
reasonable and documented out-of-pocket fees, charges and disbursements of any
counsel for any Indemnitee, incurred by or asserted against any Indemnitee
arising out of, in connection with, or as a result of (i) the execution or
delivery of this Agreement, any other Loan Document or any agreement or
instrument contemplated hereby or thereby, the performance by the parties
hereto of their respective obligations hereunder or the consummation of the
transactions contemplated hereby or thereby, (ii) any Loan or Letter of Credit
or the use of the proceeds therefrom (including any refusal by the Issuing Bank
to honor a demand for payment under a Letter of Credit if the documents
presented in connection with such demand do not strictiv comply with the terms
of such Letter of Credit), or (iii) any actual or prospective claim,
litigation, investigation or proceeding relating to any of the foregoing,
whether based on contract, tort or any other theory and regardless of whether
any Indemnitee is a party thereto (including any claim under any Environmental
Laws); provided that such indemnity shall not, as to any Indemnitee, be
available to the extent that such losses, claims, damages, liabilities or
related expenses are determined by a court of competent jurisdiction by final
and nonappealable judgment to have resulted from the bad faith, gross
negligence or willful misconduct of such Indemnitee or its Related Parties.

     C. Reimbursement by the Lenders. To the extent that the Company fails to
pay any amount required under subsection 10.2A or 10.2B to be paid by it to any
Agent (or any sub-Agent thereof), the Issuing Bank or any Related Party of any
of the foregoing, each Lender severally agrees to pay to the Agent (or any such
sub-Agent), the Issuing Bank or such Related Party, as the case may be, such
Lender’s Pro Rata Share (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount;
provided that the unreimbursed expense or indemnified loss, claim, damage,
liability or related expense, as the case may be, was incurred by or asserted
against such Agent (or any such sub-Agent) or the Issuing Bank in its capacity
as such, or against any Related Party of any of the foregoing acting for such
Agent (or any such sub-Agent) or the Issuing Bank in connection with such
capacity. The obligations of the Lenders under this subsection 10.1C are
subject to the provisions of subsection 10.12.

     D. Waiver of Consequential Damages, Etc. To the fullest extent permitted
by applicable law, the Company shall not assert, and hereby waives, any claim
against any Indemnitee, on any. theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages)
arising out of, in connection with, or as a result of, this Agreement, any
other Loan Document or any agreement or instrument contemplated

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hereby, the transactions contemplated hereby or thereby, any Loan or
Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to
in subsection 10.2B above shall be liable for any damages arising from the use
by unintended recipients of any information or other materials distributed by
it through telecommunications, electronic or other information transmission
systems in connection with this Agreement or the other Loan Documents or the
transactions contemplated hereby or thereby.

     E. Payments. All amounts due under this subsection 10.2 shall be payable
promptly after demand therefor.

	10.3	 	Right of Set-Off; Security Interest in Deposit Accounts.

     Without limitation of any other rights of the Agents, Lenders or the
Issuing Bank, if an Event of Default shall have occurred and be continuing,
each Agent, Lender, the Issuing Bank and each of their respective Affiliates is
hereby authorized at any time and from time to time, to the fullest extent
permitted by applicable law, to set off and apply any and all deposits (general
or special, time or demand, provisional or final, in whatever currency) at any
time held and other obligations (in whatever currency) at any time owing by
such Agent, Lender, the Issuing Bank or any such Affiliate to or for the credit
or the account of the Company against any and all of the obligations of the
Company now or hereafter existing under this Agreement or any other Loan
Document to such Agent, Lender or the Issuing Bank, irrespective of whether or
not such Lender or the Issuing Bank shall have made any demand under this
Agreement or any other Loan Document and although such obligations of the
Company may be contingent or unmatured or are owed to a branch or office of
such Lender or the Issuing Bank different from the branch or office holding
such deposit or obligated on such indebtedness. The rights of each Agent,
Lender, the Issuing Bank and their respective Affiliates under this subsection
10.3 are in addition to other rights and remedies (including other rights of
setoff) which such Agent, Lender, the Issuing Bank or their respective
Affiliates may have. Each Agent, Lender and the Issuing Bank agrees promptly
to notify in writing the Company and the Administrative Agent promptly after
any such setoff and application; provided that the failure to give such notice
shall not affect the validity of such setoff and application.

	10.4	 	Sharing of Payments by Lenders.

     If any Lender shall, by exercising any right of setoff or counterclaim or
otherwise, obtain payment in respect of any principal of or interest on any of
its Loans or other obligations hereunder resulting in such Lender’s receiving
payment of a proportion of the aggregate amount of its Loans and accrued
interest thereon or other such obligations greater than its Pro Rata Share
thereof as provided herein, then the Lender receiving such greater proportion
shall (a) notify the Administrative Agent of such fact, and (b) purchase (for
cash at face value) participations in the Loans and such other obligations of
the other Lenders, or make such other adjustments as shall be equitable, to the
end that the benefit of all such payments shall be shared by the Lenders
ratably in accordance with the aggregate amount of principal of and accrued
interest on their respective Loans and other amounts owing them; provided that
(i) if any such participations are purchased and all or any portion of the
payment giving rise thereto is recovered, such participations shall be
rescinded and the purchase price restored to the extent of such recovery,
without interest, and (ii) the provisions of this paragraph shall not be
construed to apply to (x) any payment made by the Company pursuant to and in
accordance with the express terms of this Agreement or (y) any payment obtained
by a Lender as consideration for the assignment of or sale of a participation
in any of its Loans to any assignee or participant, other than to the Company
or any Subsidiary thereof (as to which the provisions of this paragraph shall
apply). The Company consents to the foregoing and agrees, to the extent it may
effectively do so under applicable law, that any Lender acquiring a
participation pursuant to the foregoing arrangements may exercise against the
Company rights of setoff and counterclaim with respect to such participation as
fully as if such Lender were a direct creditor of the Company in the amount of
such participation.

	10.5	 	Amendments and Waivers.

     A. Amendment and Waivers. No amendment, modification, termination or
waiver of any provision of this Agreement or of the Notes, or consent to any
departure by the Company or any other Loan Party therefrom, shall in any event
be effective without the written concurrence of the Requisite Lenders; provided
that any such amendment, modification, termination, waiver or consent which:

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      (a) reduces or forgives the principal amount of any of the Loans;

      (b) reduces the percentage specified in the definition of the
“Requisite Lenders” (it being understood that, with the consent of the
Requisite Lenders, additional extensions of credit pursuant to this
Agreement may be included in the definition of the “Requisite Lenders” on
substantially the same basis as the Term Loans and Revolving Loan
Commitments are included on the Closing Date);

      (c) changes in any manner any provision of this Agreement which, by
its terms, expressly requires the approval or concurrence of all the
Lenders;

      (d) postpones the scheduled final maturity date of any of the Loans;

      (e) postpones the date or reduces the amount of any scheduled
payment (but not prepayment) of principal of any of the Loans;

      (f) postpones the date on which any interest or any fees are
payable;

      (g) decreases the interest rate borne by any of the Loans (other
than any waiver of any increase in the interest rate applicable to any of
the Loans pursuant to subsection 2.2E) or the amount of any fees payable
hereunder;

      (h) increases the maximum duration of Interest Periods permitted
hereunder;

      (i) releases all or substantially all of the Collateral;

      (j) except as required or permitted by any Guaranty, releases all or
substantially all of the Guarantors from their obligations under the
Guaranties;

      (k) reduces the amount or postpones the due date of any amount
payable in respect of, or extends the required expiration date of, any
Letter of Credit;

      (l) changes the obligations of the Lenders relating to the purchase
of participations in Letters of Credit in any manner that is adverse to
the Issuing Bank; or

      (m) changes in any manner the provisions contained in subsection 8.1
or this subsection 10.5;

in each case, shall be effective only if evidenced by a writing signed by or on
behalf of all the Lenders to whom Obligations are owed or who have Commitments
outstanding being directly affected by such amendment, modification,
termination, waiver or consent (the consent of the Requisite Lenders not being
required for any such change).

     In addition, (i) any amendment, modification, termination or waiver of
subsection 4.2 or any of the provisions contained in subsection 4.2 at any time
after the Closing Date shall be effective only if evidenced by a writing signed
by or on behalf of the Administrative Agent and the Requisite Class Lenders of
the Class of Lenders who have Revolving Loan Exposure, (ii) no increase in the
Commitments of any Lender over the amount thereof then in effect shall be
effective without the written concurrence of that Lender, it being understood
and agreed that in no event shall waivers or modifications of conditions
precedent, covenants, Defaults, Events of Default or of a mandatory prepayment
or a reduction of any or all of the Commitments be deemed to constitute an
increase of the Commitment of any Lender and that an increase in the available
portion of any Commitment of any Lender shall not be deemed to constitute an
increase in the Commitment of such Lender, (iii) no amendment, modification,
termination or waiver of any provision of subsection 2.1A(iii) or any other
provision of this Agreement relating to the Swing Line Loan Commitment or the
Swing Line Loans shall be effective without the written concurrence of the
Swing Line Lender, (iv) no amendment, modification, termination or waiver of
any provision of Section 3 relating to the rights or obligations of an Issuing
Bank shall be effective without the written concurrence of such Issuing Bank
with respect to any Letter of Credit then outstanding, (v) no amendment,
modification, termination or waiver of any provision of Section 9 or of any
other provision of this Agreement which, by its terms, expressly requires the
approval

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or concurrence of the Administrative Agent and/or the Collateral Agent
shall be effective without the written concurrence of such Agent and (vi) no
amendment or modification of any priority of Liens in the Collateral that
secure the Obligations shall be effective without the consent of all Lenders.
Notwithstanding the foregoing, any waiver that extends the initial time frame
for any post-closing covenant set forth on Schedule 6.15 shall only require the
consent of the Administrative Agent; provided that all such extensions with
respect to any such post-closing covenants do not, in the aggregate, increase
the time frame for a period greater than the initial time frame set forth on
Schedule 6.15.

     No amendment, modification, termination or waiver of any provision of
subsection 2.4 which has the effect of changing any voluntary or mandatory
prepayments or Commitment reductions applicable to any Class (the “Affected
Class”) in a manner that disproportionately disadvantages such Class relative
to the other Class shall be effective without the written concurrence of the
Requisite Class Lenders of the Affected Class (it being understood and agreed
that any amendment, modification, termination or waiver of any such provision
which only postpones or reduces any voluntary or mandatory prepayment or
Commitment reduction from those set forth in subsection 2.4 with respect to one
Class but not the other Classes shall be deemed to disproportionately
disadvantage such one Class but not to disproportionately disadvantage such
other Classes for purposes of this clause).

     The Administrative Agent may, but shall have no obligation to, with the
concurrence of any Lender, execute amendments, modifications, waivers or
consents on behalf of that Lender. Any waiver or consent shall be effective
only in the specific instance and for the specific purpose for which it was
given. No notice to or demand on the Company in any case shall entitle the
Company to any other or further notice or demand in similar or other
circumstances. Any amendment, modification, termination, waiver or consent
effected in accordance with this subsection 10.5 shall be binding upon each
Lender at the time outstanding, each future Lender and, if signed by the
Company, on the Company.

     B. Non-Consenting Lenders. Each Lender grants (x) to the Administrative
Agent the right to purchase all (but not less than all) of such Lender’s
Commitments and Loans owing to it and the Notes held by it and all of its
rights and obligations hereunder and under the other Loan Documents, and (y) to
the Company the right to cause an assignment of all (but not less than all) of
such Lender’s Commitments and Loans owing to it, its participations in the
Notes held by it and all of its rights and obligations hereunder and under the
other Loan Documents to Eligible Assignees, which right may be exercised by the
Administrative Agent or the Company, as the case may be, if such Lender (a
"Non-Consenting Lender”) refuses to execute any amendment, waiver or consent
which requires the written consent of Lenders other than Requisite Lenders and
to which Requisite Lenders, the Administrative Agent and the Company have
otherwise agreed; provided that such Non-Consenting Lender shall receive, in
connection with such assignments, payment equal to the aggregate amount of
outstanding Loans owed to such Lender (together with all accrued and unpaid
interest, fees and other amounts (other than indemnities) owed to such Lender).
Each Lender agrees that if the Administrative Agent or the Company, as the
case may be, exercises their option hereunder, it shall promptly execute and
deliver all agreements and documentation necessary to effectuate such
assignment as set forth in subsection 10.1. The Company shall be entitled (but
not obligated) to execute and deliver such agreement and documentation on
behalf of such Non-Consenting Lender and any such agreement and/or
documentation so executed by the Company shall be effective for purposes of
documenting an assignment pursuant to subsection 10.1.

	10.6	 	Independence of Covenants.

     All covenants hereunder shall be given independent effect so that if a
particular action or condition is not permitted by any of such covenants, the
fact that it would be permitted by an exception to, or would otherwise be
within the limitations of, another such covenant shall not avoid the occurrence
of an Default or Event of Default if such action is taken or condition exists.

	10.7	 	Notices.

     A. Notices Generally. Except in the case of notices and other
communications expressly permitted to be given by telephone (and except as
provided in subsection 10.1E below), all notices and other communications
provided for herein shall be in writing and shall be delivered by hand or
overnight courier service, mailed by certified or registered mail or sent by
telecopier as follows: (i) if to the Company, to it at 980 North Michigan
Avenue,

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Suite 1000, Chicago, Illinois 60611, Attention: Chief Financial Officer
(Telecopier No. 312-280-4820; Telephone No. 312-280-8844) with a copy to:
General Counsel (Telecopier No. 312-280-4820; Telephone No. 312-280-8844); (ii)
if to the Administrative Agent, the Collateral Agent or Issuing Bank, to CSFB
at Eleven Madison Avenue, New York, New York 10010, Attention of Agency Group
(Telecopier No. 212-325-8304; Telephone No. 212-325-9936; and (iii) if to a
Lender or any other Issuing Bank, to it at its address (or telecopier 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 telecopier shall be
deemed to have been given when sent (except that, if not given during normal
business hours for the recipient, shall be deemed to have been given at the
opening of business on the next business day for the recipient). Notices
delivered through electronic communications to the extent provided in
subsection 10.7B below, shall be effective as provided in said subsection
10.7B.

     B. Electronic Communications. Notices and other communications to the
Lenders and the Issuing Bank hereunder may be delivered or furnished by
electronic communication (including e-mail and Internet or intranet websites)
pursuant to procedures approved by the Administrative Agent, provided that the
foregoing shall not apply to notices to any Lender or the Issuing Bank pursuant
to subsection 2.1 and Section 3, as the case may be, if such Lender or the
Issuing Bank, as applicable, has notified the Administrative Agent that it is
incapable of receiving notices under such subsection by electronic
communication. The Administrative Agent or the Company may, in its discretion,
agree to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it; provided that approval of
such procedures may be limited to particular notices or communications. Unless
the Administrative Agent otherwise prescribes, (i) notices and other
communications sent to an e-mail address shall be deemed received upon the
sender’s receipt of an acknowledgment from the intended recipient (such as by
the “return receipt requested” function, as available, return e-mail or other
written acknowledgment); provided that if such notice or other communication is
not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent at the opening of business on
the next business day for the recipient, and (ii) notices or communications
posted to an Internet or intranet website shall be deemed received upon the
deemed receipt by the intended recipient at its e-mail address as described in
the foregoing clause (i) of notification that such notice or communication is
available and identifying the website address therefor.

     C. Change of Address, Etc. Any party hereto may change its address or
telecopier number for notices and other communications hereunder by notice to
the other parties hereto.

	10.8	 	Survival of Representations, Warranties and Agreements.

     A. All representations, warranties and agreements made herein shall
survive the execution and delivery of this Agreement and the making of the
Loans and the issuance of the Letters of Credit hereunder.

     B. Notwithstanding anything in this Agreement or implied by law to the
contrary, the agreements of the Company set forth in subsections 2.6D, 2.7,
10.2 and 10.3 and the agreements of the Lenders set forth in subsections 9.4,
10.3, 10.4 and 10.19 shall survive the payment of the Loans, the cancellation
or expiration of the Letters of Credit and the reimbursement of any amounts
drawn or paid thereunder, and the termination of this Agreement.

	10.9	 	Failure or Indulgence Not Waiver; Remedies Cumulative.

     No failure or delay on the part of any Agent or any Lender in the exercise
of any power, right or privilege hereunder or under any other Loan Document
shall impair such power, right or privilege or be construed to be a waiver of
any default or acquiescence therein, nor shall any single or partial exercise
of any such power, right or privilege preclude other or further exercise
thereof or of any other power, right or privilege. All rights and remedies
existing under this Agreement and the other Loan Documents are cumulative to,
and not exclusive of, any rights or remedies otherwise available.

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	10.10	 	Marshalling; Payments Set Aside.

     Neither any Agent nor any Lender shall be under any obligation to marshal
any assets in favor of the Company or any other party or against or in payment
of any or all of the Obligations. To the extent that the Company makes a
payment or payments to the Administrative Agent or the Lenders (or to the
Administrative Agent or Collateral Agent for the benefit of the Lenders), or
any Agent or the Lenders enforce any security interests or exercise their
rights of setoff, and such payment or payments or the proceeds of such
enforcement or setoff or any part thereof are subsequently invalidated,
declared to be fraudulent or preferential, set aside and/or required to be
repaid to a trustee, receiver or any other party under any bankruptcy law, any
other state or federal law, common law or any equitable cause, then, to the
extent of such recovery, the obligation or part thereof originally intended to
be satisfied, and all Liens, rights and remedies therefor or related thereto,
shall be revived and continued in full force and effect as if such payment or
payments had not been made or such enforcement or setoff had not occurred.

	10.11	 	Severability.

     In case any provision in.or obligation under this Agreement or the Notes
shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations, or of
such provision or obligation in any other jurisdiction, shall not in any way be
affected or impaired thereby.

	10.12	 	Obligations Several; Independent Nature of the Lenders’ Rights.

     The obligations of the Lenders hereunder are several and no Lender shall
be responsible for the obligations or Commitments of any other Lender
hereunder. Nothing contained herein or in any other Loan Document, and no
action taken by the Lenders pursuant hereto or thereto, shall be deemed to
constitute the Lenders as a partnership, an association, a joint venture or any
other kind of entity. The amounts payable at any time hereunder to each Lender
shall be a separate and independent debt, and each Lender shall be entitled to
protect and enforce its rights arising out of this Agreement and it shall not
be necessary for any other Lender to be joined as an additional party in any
proceeding for such purpose.

	10.13	 	Maximum Amount.

     A. It is the intention of the Company and the Lenders to conform strictly
to the usury and similar laws relating to interest from time to time in force,
and all agreements between the Loan Parties and their respective Subsidiaries
and the Lenders, whether now existing or hereafter arising and whether oral or
written, are hereby expressly limited so that in no contingency or event
whatsoever, whether by acceleration of maturity hereof or otherwise, shall the
amount paid or agreed to be paid in the aggregate to the Lenders as interest
(whether or not designated as interest, and including any amount otherwise
designated but deemed to constitute interest by a court of competent
jurisdiction) hereunder or under the other Loan Documents or in any other
agreement given to secure the Indebtedness or obligations of the Company to the
Lenders, or in any other document evidencing, securing or pertaining to the
Indebtedness evidenced hereby, exceed the maximum amount permissible under
applicable usury or such other laws (the “Maximum Amount”). If under any
circumstances whatsoever fulfillment of any provision hereof, or any of the
other Loan Documents, at the time performance of such provision shall be due,
shall involve exceeding the Maximum Amount, then, ipso facto, the obligation to
be fulfilled shall be reduced to the Maximum Amount. For the purposes of
calculating the actual amount of interest paid and/or payable hereunder in
respect of laws pertaining to usury or such other laws, all sums paid or agreed
to be paid to the holder hereof for the use, forbearance or detention of the
Indebtedness of the Company evidenced hereby, outstanding from time to time
shall, to the extent permitted by Applicable Law, be amortized, pro-rated,
allocated and spread from the date of disbursement of the proceeds of the Notes
until payment in full of all of such Indebtedness, so that the actual rate of
interest on account of such Indebtedness is uniform through the term hereof.
The terns and provisions of this subsection 10.13 shall control and supersede
every other provision of all agreements between the Company or any endorser of
the Notes and the Lenders.

     B. If under any circumstances any Lender shall ever receive an amount
which would exceed the Maximum Amount, such amount shall be deemed a payment in
reduction of the principal amount of the Loans and shall be treated as a
voluntary prepayment under subsection 2.4B(i) and shall be so applied in
accordance with subsection 2.4 or if such excessive interest exceeds the unpaid
balance of the Loans and any other Indebtedness of the

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Company in favor of such Lender, the excess shall be deemed to have been a
payment made by mistake and shall be promptly refunded to the Company.

	10.14	 	Headings.

     Section and subsection headings in this Agreement are included herein for
convenience of reference only and shall not constitute a part of this Agreement
for any other purpose or be given any substantive effect.

	10.15	 	Applicable Law.

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

	10.16	 	[Intentionally Omitted].

	10.17	 	Consent to Jurisdiction and Service of Process.

     A. SUBMISSION TO JURISDICTION. THE COMPANY IRREVOCABLY AND
UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE
JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY
AND OF THE UNITED STATES DISTRICT COURT SITTING IN NEW YORK CITY, AND ANY
APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT 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 LAW, IN SUCH FEDERAL COURT. EACH OF THE
PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING
SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE
JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR
IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE
AGENT, ANY LENDER OR THE ISSUING BANK MAY OTHERWISE HAVE TO BRING ANY ACTION OR
PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE
COMPANY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

     B. WAIVER OF VENUE. THE COMPANY IRREVOCABLY AND UNCONDITIONALLY WAIVES,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION WHICH IT MAY
NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY
COURT REFERRED TO IN SUBSECTION 10.17A. 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. Service of Process. Each party hereto irrevocably consents to service
of process in the manner provided for notices in subsection 10.7. Nothing in
this Agreement will affect the right of any party hereto to serve process in
any other manner permitted by applicable law.

	10.18	 	Waiver of Jury Trial.

     EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY
LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS
AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED

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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 LOAN DOCUMENTS BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

	10.19	 	Confidentiality.

     Each of the Agents, the Lenders and the Issuing Banks 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, advisors and
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 (including any self-regulatory authority, such as
the National Association of Insurance Commissioners), (c) to the extent
required by applicable laws or regulations or by any subpoena or similar legal
process, (d) to any other party hereto, (e) in connection with the exercise of
any remedies hereunder or under any other Loan Document or any action or
proceeding relating to this Agreement or any other Loan Document or the
enforcement of rights hereunder or thereunder, (f) subject to an agreement
containing provisions substantially the same as those of this subsection 10.19,
to (i) any assignee or pledgee of or Participant in, or any prospective
assignee or pledgee of or Participant in, any of its rights or obligations
under this Agreement or (ii) any actual or prospective counterpart’ (or its
advisors) to any swap or derivative transaction relating to the Company and its
obligations, (g) with the written consent of the Company (such consent not to
be unreasonably withheld or delayed) or (h) to the extent such Information (x)
becomes publicly available other than as a result of a breach of this
subsection 10.19 or (y) becomes available to the Administrative Agent, any
Lender or the Issuing Bank on a nonconfidential basis from a source other than
the Company.

     For purposes of this subsection 10.19, “Information” means all information
received from the Company or any of its Subsidiaries relating to the Company or
any of its Subsidiaries or any of their respective businesses, other than any
such information that is available to the Administrative Agent, any Lender or
the Issuing Bank on a nonconfdential basis prior to disclosure by the Company;
provided that, in the case of information received from the Company after the
date hereof, such information is clearly identified at the time of delivery as
confidential. Any Person required to maintain the confidentiality of
Information as provided in this subsection 10.19 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 herein to the contrary, “Information” shall not
include, and the Company, the Administrative Agent and each Lender may disclose
to any and all persons, without limitation of any kind, any information with
respect to the U.S. federal income tax treatment and U.S. federal income tax
structure of the transactions contemplated hereby and all materials of any kind
(including opinions or other tax analyses) that are provided to the
Administrative Agent or such Lender relating to such tax treatment and tax
structure.

	10.20	 	Counterparts; Integration; Effectiveness; Electronic Execution.

     A. Counterparts; Integration; Effectiveness. This Agreement may be
executed in counterparts (and by different parties hereto in different
counterparts), each of which shall constitute an original, but all of which
when taken together shall constitute a single contract. This Agreement and any
separate letter agreements with respect to fees payable to the Administrative
Agent constitute the entire contract among the parties relating to the subject
matter hereof and supersede any and all previous agreements and understandings,
oral or written, relating to the subject matter hereof. This Agreement shall
become effective upon the satisfaction of the conditions precedent set forth in
Section 4 and when it shall have been executed by the Administrative Agent and
when the Administrative Agent shall have received counterparts hereof which,
when taken together, bear the signatures of each of the other parties hereto
required pursuant to Section 4, and thereafter shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and
assigns. Delivery of an executed counterpart of a signature page of this
Agreement or any document or instrument delivered in connection herewith by
telecopy shall be effective as delivery of a manually executed counterpart of
this Agreement or such other document or instrument, as applicable.

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     B. Electronic Execution of Assignments. The words “execution,” “signed,”
“signature,” and words of like import in any Assignment Agreement 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 law, including the Federal Electronic Signatures in Global and
National Commerce Act, the New York State Electronic Signatures and Records
Act, or any other similar state laws based on the Uniform Electronic
Transactions Act.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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

	 	 	 	 	 
	   THE COMPANY:	 	TRANSPORTATION TECHNOLOGIES
	 	 	INDUSTRIES, INC.
	 
	 	 	 	 
	

	 	By:
	 	/s/ Donald C. Mueller
	

	 	 	 	
 
	

	 	 	 	Name: Donald C. Mueller
	

	 	 	 	Title: Vice President

[Transportation Technologies Industries, Inc. - Credit Agreement]

S-1

 

	 	 	 	 	 
	    AGENTS AND LENDERS:	 	CREDIT SUISSE FIRST BOSTON,
	 	 	acting through its Cayman Islands Branch
	 
	 	 	 	 
	

	 	By:
	 	/s/ Robert Hetu
	

	 	 	 	
 
	

	 	 	 	Name: Robert Hetu
	

	 	 	 	Title: Director
	 
	 	 	 	 
	

	 	By:
	 	/s/ Doreen B. Welch
	

	 	 	 	
 
	

	 	 	 	Name: Doreen B. Welch
	

	 	 	 	Title: Associate

[Transportation Technologies Industries, Inc. - Credit Agreement]

S-2

 

	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL ASSOCIATION
	 	 	as a Lender and an Issuing Bank
	 
	 	 	 	 
	

	 	By:
	 	/s/ Glenn F. Edwards
	

	 	 	 	
 
	

	 	 	 	Name: Glenn F. Edwards
	

	 	 	 	Title: Managing Director
	 
	 	 	 	 
	 	 	WACHOVIA CAPITAL MARKETS, LLC,
	 	 	as Co-Syndication Agent
	 
	 	 	 	 
	

	 	By:
	 	/s/ Glenn F. Edwards
	

	 	 	 	
 
	

	 	 	 	Name: Glenn F. Edwards
	

	 	 	 	Title: Managing Director

[Transportation Technologies Industries, Inc. - Credit Agreement]

S-3

 

	 	 	 	 	 
	 	 	LEHMAN COMMERCIAL PAPER INC.,
	 	 	Individually and as a Co-Syndication Agent
	 
	 	 	 	 
	

	 	By:
	 	/s/ G. Andrew Keith
	

	 	 	 	
 
	

	 	 	 	Name: G. Andrew Keith

[Transportation Technologies Industries, Inc. - Credit Agreement]

S-4

 

	 	 	 	 	 
	 	 	LASALLE BANK NATIONAL ASSOCIATION,
	 	 	as a Lender
	 
	 	 	 	 
	

	 	By:
	 	Patrick J. O’Toole
	

	 	 	 	
 
	

	 	 	 	Name: Patrick J. O’Toole
	

	 	 	 	Title: Vice President

[Transportation Technologies Industries, Inc. - Credit Agreement]

S-5

 

EXHIBIT I

[FORM OF NOTICE OF BORROWING]

NOTICE OF BORROWING

     Reference is made to that certain First Lien Credit Agreement, dated as of
March 16, 2004 (as further amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), by and among
Transportation Technologies Industries, Inc., a Delaware corporation (the
"Company”), the Lenders party thereto from time to time, Credit Suisse First
Boston, as the Administrative Agent, Collateral Agent and, together with Lehman
Brothers, Inc. and Wachovia Capital Markets, LLC ("Wachovia”), Joint Bookrunner
and Joint Lead Arranger, and Lehman Commercial Paper Inc., as CoSyndication
Agent together with Wachovia. Capitalized terms used herein and not defined
herein shall have the meanings assigned to such terms in the Credit Agreement.

     Pursuant to Section 2.1A of the Credit Agreement, the Company desires that
Lenders make the following Loans to the Company in accordance with the
applicable terms and conditions of the Credit Agreement on [                   ] (the
“Funding Date”):

	 	 	 	 	 	 	 
	1.	 	Term Loans	 	 
	 
	 	 	 	 	 	 
	

	 	o
	 	Base Rate Loans:
	 	$[  ,  ,  ]
	 
	 	 	 	 	 	 
	

	 	o
	 	Eurodollar Rate Loans, with an Initial	 	 
	

	 	 	 	Interest period of       Month(s):
	 	$[  ,  ,  ]
	 
	 	 	 	 	 	 
	2.	 	Revolving Loans	 	 
	 
	 	 	 	 	 	 
	

	 	o
	 	Base Rate Loans:
	 	$[  ,  ,  ]
	 
	 	 	 	 	 	 
	

	 	o
	 	Eurodollar Rate Loans, with an Initial	 	 
	

	 	 	 	Interest Period of        Month(s):
	 	$[  ,  ,  ]
	 
	 	 	 	 	 	 
	3.	 	Swing Line Loans:	 	$[  ,  ,  ]

     The Company hereby certifies that as of the Funding Date:

      (i) After making the Loans requested, the Total Utilization of
Revolving Loan Commitments shall not exceed the Revolving Loan
Commitments then in effect;

      (ii) The representations and warranties contained in the Credit
Agreement and in the other Loan Documents shall be true and correct in
all material respects on and as of the Funding Date to the same extent as
though made on and as of that date, except to the extent such
representations and warranties specifically relate to an earlier date, in
which case such representations and warranties shall have been true and
correct in all material respects on and as of such earlier date; and

      (iii) No event shall have occurred and be continuing or would result
from the consummation of the borrowing contemplated hereby that would
constitute a Default or Event of Default.

EXHIBITS TO CREDIT AGREEMENT

Exh. I-1

 

     Date: [                   ]

	 	 	 	 	 
	 	TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC.
 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

EXHIBITS TO CREDIT AGREEMENT

Exh. I-2

 

	 	 	 	 	 

EXHIBIT II

[FORM OF NOTICE OF CONVERSION/CONTINUATION]

NOTICE OF CONVERSION/CONTINUATION

     Reference is made to that certain First Lien Credit Agreement, dated as of
March 16, 2004 (as further amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), by and among
Transportation Technologies Industries, Inc., a Delaware corporation (the
"Company”), the Lenders party thereto from time to time, Credit Suisse First
Boston, as the Administrative Agent, Collateral Agent and, together with Lehman
Brothers, Inc. and Wachovia Capital Markets, LLC ("Wachovia”), Joint Bookrunner
and Joint Lead Arranger, and Lehman Commercial Paper Inc., as CoSyndication
Agent together with Wachovia. Capitalized terms used herein and not defined
herein shall have the meanings assigned to such terms in the Credit Agreement.
The Company hereby requests to convert or continue Loans as follows:

	 	 	 
	1.

	 	Date of conversion/continuation:                    , 200  
	 
	 	 
	2.

	 	Amount of Loans being converted/continued: $ [1]
	 
	 	 
	3.

	 	Type of Loans being converted/continued:
	 
	 	 
	

	 	oa. Term Loans
	

	 
	

	 	ob. Revolving Loans
	 
	 	 
	4.

	 	Nature of conversion/continuation:
	 
	 	 
	

	 	oa. Conversion of Base Rate Loans to Eurodollar Rate Loans
	

	 
	

	 	ob. Conversion of Eurodollar Rate Loans to Base Rate Loans
	

	 
	

	 	oc. Continuation of Eurodollar Rate Loans as such
	 
	 	 
	5.

	 	If Loans are being continued as or converted to Eurodollar
Rate Loans, the duration of the new Interest Period that commences
on the conversion/continuation date:                     month(s)

	 	 	[1] Use a separate Notice of Conversion/Continuation for each type of loan
being converted/continued.

Exh. II-1

 

In the case of a conversion to or continuation of Eurodollar Rate Loans, the
undersigned officer, to the best of his or her knowledge, and Company certify
that no Default or Event of Default has occurred and is continuing under the
Credit Agreement.

     DATED:                                       

	 	 	 	 	 
	 	TRANSPORTATION TECHNOLOGIES INDUSTRIES,
INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

Exh. II-2

 

	 	 	 	 	 

EXHIBIT III

[FORM OF NOTICE OF ISSUANCE OF

LETTER OF CREDIT]

NOTICE OF ISSUANCE OF LETTER OF CREDIT

     Reference is made to that certain First Lien Credit Agreement, dated as of
March 16, 2004 (as further amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), by and among
Transportation Technologies Industries, Inc., a Delaware corporation (the
"Company”), the Lenders party thereto from time to time, Credit Suisse First
Boston, as the Administrative Agent, Collateral Agent and, together with Lehman
Brothers, Inc. and Wachovia Capital Markets, LLC ("Wachovia”), Joint Bookrunner
and Joint Lead Arranger, and Lehman Commercial Paper Inc., as CoSyndication
Agent together with Wachovia. Capitalized terms used herein and not defined
herein shall have the meanings assigned to such terms in the Credit Agreement.

     Pursuant to Section 3.1 of the Credit Agreement, the Company desires a
Letter of Credit to be issued in accordance with the terms and conditions of
the Credit Agreement on [                   ] (the “Funding Date”) in an aggregate face
amount or maximum aggregate liability, as applicable, of $[  ,  ,  ].

     Attached hereto for each such Letter of Credit are the following:

      (a) the name and address of the beneficiary;

      (b) the expiration date; and

      (c) either (i) the verbatim text of such proposed Letter of Credit,
or (ii) a description of the proposed terms and conditions of such Letter
of Credit, including a precise description of any documents to be
presented by the beneficiary which, if presented by the beneficiary prior
to the expiration date of such Letter of Credit, would require the
Issuing Bank to make payment under such Letter of Credit.

     The Company hereby certifies that:

      (i) The representations and warranties contained in the Credit
Agreement and in the other Loan Documents shall be true and correct in
all material respects on and as of the Funding Date to the same extent as
though made on and as of that date, except to the extent such
representations and warranties specifically relate to an earlier date, in
which case such representations and warranties shall have been true and
correct in all material respects on and as of such earlier date;

      (ii) No event shall have occurred and be continuing or would result
from the consummation of the borrowing contemplated hereby that would
constitute a Default or Event of Default;

      (iii) After issuing such Letter of Credit requested on the Funding
Date, the Total Utilization of Revolving Loan Commitments shall not
exceed the Revolving Loan Commitments then in effect; and

      (iv) After issuing such Letter of Credit requested on the Funding
Date, the Letter of Credit Usage shall not exceed the Letter of Credit
Subfacility Commitment.

EXHIBITS TO CREDIT AGREEMENT

Exh. III-1

 

     Date: [                                      ]

	 	 	 	 	 
	 	TRANSPORTATION TECHNOLOGIES INDUSTRIES,
INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

EXHIBITS TO CREDIT AGREEMENT

Exh. III-2

 

	 	 	 	 	 

EXHIBIT IV-A

[FORM OF TERM NOTE]

TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC.

TERM LOAN PROMISSORY NOTE DUE MARCH [ ], 2009

	 	 	 
	$[1]

	 	New York, New York
	

	 	as of [              ], 2004

     FOR VALUE RECEIVED, TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC., a
Delaware corporation (the “Company”), promises to pay to [2] (the “Payee”) or
its registered assigns, the lesser of (x) [3] ($[1]) and (y) the unpaid
principal amount of the Payee’s Term Loans under the Credit Agreement referred
to below, in the installments referred to below.

     The Company also promises to pay interest on the unpaid principal amount
hereof, from the date hereof until paid in full, at the rates and at the times
which shall be determined in accordance with the provisions of that certain
First Lien Credit Agreement dated as of March 16, 2004 (as further amended,
restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), by and among the Company, the Lenders party thereto from time to
time, Credit Suisse First Boston, as the Administrative Agent, Collateral Agent
and, together with Lehman Brothers, Inc. and Wachovia Capital Markets, LLC
("Wachovia”), Joint Bookrunner and Joint Lead Arranger, and Lehman Commercial
Paper Inc., as Co-Syndication Agent together with Wachovia. Capitalized terms
used herein but not defined herein shall have the meanings assigned to such
terms in the Credit Agreement.

     The Company shall make principal payments on this Note in consecutive
quarterly installments as set forth in the Credit Agreement, commencing on June
30, 2004 and ending on the Term Loan Maturity Date. Each such installment
shall be due on the date specified in the Credit Agreement and in an amount
determined in accordance with the provisions thereof; provided that the last
such installment shall be in an amount sufficient to repay the entire unpaid
principal balance of this Note, together with all accrued and unpaid interest
thereon.

     This Note is one of the Company’s “Term Notes” in the aggregate principal
amount of $115,000,000 and is issued pursuant to and entitled to the benefits
of the Credit Agreement, to which reference is hereby made for a more complete
statement of the terms and conditions under which the Term Loans evidenced
hereby were made and are to be repaid.

     All payments of principal and interest in respect of this Note shall be
made in lawful money of the United States of America in same day funds at such
place as shall be designated for such purpose in accordance with the terms of
the Credit Agreement. Unless and until an Assignment Agreement effecting the
assignment or transfer of this Note shall have been accepted by the
Administrative Agent and recorded in the Register as provided in subsection
10.1C of the Credit Agreement, the Company and the Administrative Agent shall
be entitled to deem and treat the Payee as the owner and holder of this Note
and the Loan evidenced hereby. The Payee hereby agrees, by its acceptance
hereof, that before disposing of this Note or any part hereof it will make a
notation hereon of all principal payments previously made hereunder and of the
date to which interest hereon has been paid; provided, however, that the
failure to make a notation of any payment made on this Note shall not limit or
otherwise affect the obligations of the Company hereunder with respect to
payments of principal of or interest on this Note.

	[1]	 	Insert amount of applicable Lender’s Term Loan Commitment in numbers.
	 
	[2]	 	Insert applicable Lender’s name in capital letters.
	 
	[3]	 	Insert amount of applicable Lender’s Term Loan Commitment in words.

EXHIBITS TO CREDIT AGREEMENT

Exh. IV-A-1

 

     Whenever any payment on this Note shall be stated to be due on a day which
is not a Business Day, such payment shall be made on the next succeeding
Business Day, and such extension of time shall be included in the computation
of the payment of interest on this Note.

     This Note is subject to mandatory prepayments and to prepayments at the
option of the Company, all as provided in the Credit Agreement.

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

     Upon the occurrence of an Event of Default, the unpaid balance of the
principal amount of this Note, together with all accrued and unpaid interest
thereon, may become, or may be declared to be, due and payable in the manner,
upon the conditions and with the effect provided in the Credit Agreement.

     This Note is entitled to the benefits of the Subsidiary Guaranty and is
secured pursuant to the Collateral Documents.

     The terms of this Note are subject to amendment only in the manner
provided in the Credit Agreement.

     This Note is subject to restrictions on transfer or assignment as provided
in subsection 10.1 of the Credit Agreement.

     No reference herein to the Credit Agreement and no provision of this Note
or the Credit Agreement shall alter or impair the obligations of the Company,
which are absolute and unconditional, to pay the principal of and interest on
this Note at the place, at the respective times, and in the currency herein
prescribed.

     The Company promises to pay all costs and expenses, including reasonable
attorneys’ fees, all as provided in subsection 10.2 of the Credit Agreement,
incurred in the collection and enforcement of this Note. The Company and any
endorsers of this Note hereby consent to renewals and extensions of time at or
after the maturity hereof, without notice, and hereby waive diligence,
presentment, protest, demand and notice of every kind and, to the full extent
permitted by law, the right to plead any statute of limitations as a defense to
any demand hereunder.

EXHIBITS TO CREDIT AGREEMENT

Exh. IV-A-2

 

     IN WITNESS WHEREOF, the Company has caused this Note to be duly executed
and delivered by its officer thereunto duly authorized as of the date and at
the place first written above.

	 	 	 	 	 
	 	TRANSPORTATION TECHNOLOGIES INDUSTRIES,
INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

EXHIBITS TO CREDIT AGREEMENT

Exh. IV-A-3

 

	 	 	 	 	 

TRANSACTIONS

ON

TERM NOTE

	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	Outstanding	 	 	Amount of	 	 	 
	 	 	Amount of	 	 	Principal	 	 	Interest	 	 	 
	 	 	Principal Paid	 	 	Balance This	 	 	Paid This	 	 	Notation
	Date
	 	This Date
	 	 	Date
	 	 	Date
	 	 	Made By

EXHIBITS TO CREDIT AGREEMENT

Exh. IV-A-4

 

EXHIBIT IV-B

[FORM OF REVOLVING NOTE]

TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC.

REVOLVING LOAN PROMISSORY NOTE

	 	 	 
	$[1]

	 	New York, New York
	

	 	as of [              ], 2004

     FOR VALUE RECEIVED, TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC., a
Delaware corporation (the “Company”), promises to pay to [2] (the “Payee”) or
its registered assigns, the lesser of (a) [3] ($[1]) and (b) the unpaid
principal amount of all advances made by Payee to the Company as Revolving
Loans under the Credit Agreement referred to below.

     The Company also promises to pay interest on the unpaid principal amount
hereof, from the date hereof until paid in full, at the rates and at the times
which shall be determined in accordance with the provisions of that certain
First Lien Credit Agreement dated as of March 16, 2004 (as further amended,
restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), by and among the Company, the Lenders party thereto from time to
time, Credit Suisse First Boston, as the Administrative Agent, Collateral Agent
and, together with Lehman Brothers, Inc. and Wachovia Capital Markets, LLC
("Wachovia”), Joint Bookrunner and Joint Lead Arranger, and Lehman Commercial
Paper Inc., as Co-Syndication Agent together with Wachovia. Capitalized terms
used herein but not defined herein shall have the meanings assigned to such
terms in the Credit Agreement.

     This Note is one of the Company’s “Revolving Notes” in the aggregate
principal amount of $50,000,000 and is issued pursuant to and entitled to the
benefits of the Credit Agreement, to which reference is hereby made for a more
complete statement of the terms and conditions under which the Revolving Loans
evidenced hereby were made and are to be repaid.

     All payments of principal and interest in respect of this Note shall be
made in lawful money of the United States of America in same day funds at such
place as shall be designated for such purpose in accordance with the terms of
the Credit Agreement.

     Unless and until an Assignment Agreement effecting the assignment or
transfer of this Note shall have been accepted by the Administrative Agent and
recorded in the Register as provided in subsection 10.1C of the Credit
Agreement, the Company and the Administrative Agent shall be entitled to deem
and treat the Payee as the owner and holder of this Note and the Loan evidenced
hereby. The Payee hereby agrees, by its acceptance hereof, that before
disposing of this Note or any part hereof it will make a notation hereon of all
principal payments previously made hereunder and of the date to which interest
hereon has been paid; provided, however, that the failure to make a notation of
any payment made on this Note shall not limit or otherwise affect the
obligations of the Company hereunder with respect to payments of principal of
or interest on this Note.

	[1]	 	Insert amount of applicable Lender’s Revolving Loan Commitment in numbers.
	 
	[2]	 	Insert applicable Lender’s name in capital letters.
	 
	[3]	 	Insert amount of applicable Lender’s Revolving Loan Commitment in words.

EXHIBITS TO CREDIT AGREEMENT

Exh. IV-B-1

 

     Whenever any payment on this Note shall be stated to be due on a day which
is not a Business Day, such payment shall be made on the next succeeding
Business Day, and such extension of time shall be included in the computation
of the payment of interest on this Note.

     This Note is subject to mandatory prepayments and to prepayments at the
option of the Company, all as provided in the Credit Agreement.

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

     Upon the occurrence of an Event of Default, the unpaid balance of the
principal amount of this Note, together with all accrued and unpaid interest
thereon, may become, or may be declared to be, due and payable in the manner,
upon the conditions and with the effect provided in the Credit Agreement.

     This Note is entitled to the benefits of the Subsidiary Guaranty and is
secured pursuant to the Collateral Documents.

     The terms of this Note are subject to amendment only in the manner
provided in the Credit Agreement.

     This Note is subject to restrictions on transfer or assignment as provided
in subsection 10.1 of the Credit Agreement.

     No reference herein to the Credit Agreement and no provision of this Note
or the Credit Agreement shall alter or impair the obligations of the Company,
which are absolute and unconditional, to pay the principal of and interest on
this Note at the place, at the respective times, and in the currency herein
prescribed.

     The Company promises to pay all costs and expenses, including reasonable
attorneys’ fees, all as provided in subsection 10.2 of the Credit Agreement,
incurred in the collection and enforcement of this Note. The Company and any
endorsers of this Note hereby consent to renewals and extensions of time at or
after the maturity hereof, without notice, and hereby waive diligence,
presentment, protest, demand and notice of every kind and, to the full extent
permitted by law, the right to plead any statute of limitations as a defense to
any demand hereunder.

EXHIBITS TO CREDIT AGREEMENT

Exh. IV-B-2

 

     IN WITNESS WHEREOF, the Company has caused this Note to be duly executed
and delivered by its officer thereunto duly authorized as of the date and at
the place first written above.

	 	 	 	 	 
	 	TRANSPORTATION TECHNOLOGIES INDUSTRIES,
INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

EXHIBITS TO CREDIT AGREEMENT

Exh. IV-B-3

 

	 	 	 	 	 

TRANSACTIONS

ON

REVOLVING LOAN NOTE

	 	 	 
	 	 	 	 	 	Amount of	 	 	Outstanding	 	 	Amount of	 	 	 
	 	 	Amount of	 	 	Principal	 	 	Principal	 	 	Interest	 	 	 
	 	 	Loan Made	 	 	Paid This	 	 	Balance This	 	 	Paid This	 	 	Notation
	Date
	 	This Date
	 	 	Date
	 	 	Date
	 	 	Date
	 	 	Made By

EXHIBITS TO CREDIT AGREEMENT

Exh. IV-B-4

 

EXHIBIT IV-C

[FORM OF SWING LINE NOTE]

TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC.

SWING LINE NOTE

	 	 	 
	$10,000,000

	 	New York, New York
	

	 	as of [            ], 2004

     FOR VALUE RECEIVED, TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC., a
Delaware corporation (the “Company”), promises to pay to [
] as Swing Line Lender (the “Payee”) or its registered assigns, the
lesser of (a) TEN MILLION DOLLARS ($10,000,000) and (b) the unpaid principal
amount of all advances made by Payee to the Company as Swing Line Loans under
the Credit Agreement referred to below.

     The Company also promises to pay interest on the unpaid principal amount
hereof, from the date hereof until paid in full, at the rates and at the times
which shall be determined in accordance with the provisions of that certain
First Lien Credit Agreement dated as of March 16, 2004 (as further amended,
restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), by and among the Company, the Lenders party thereto from time to
time, Credit Suisse First Boston, as the Administrative Agent, Collateral Agent
and, together with Lehman Brothers, Inc. and Wachovia Capital Markets, LLC
("Wachovia”), Joint Bookrunner and Joint Lead Arranger, and Lehman Commercial
Paper Inc., as Co-Syndication Agent together with Wachovia. Capitalized terms
used herein but not defined herein shall have the meanings assigned to such
terms in the Credit Agreement.

     This Note is one of the Company’s “Swing Line Notes” and is issued
pursuant to and entitled to the benefits of the Credit Agreement, to which
reference is hereby made for a more complete statement of the terms and
conditions under which the Swing Line Loans evidenced hereby were made and are
to be repaid.

     All payments of principal and interest in respect of this Note shall be
made in lawful money of the United States of America in same day funds at such
place as shall be designated for such purpose in accordance with the terms of
the Credit Agreement.

     Whenever any payment on this Note shall be stated to be due on a day which
is not a Business Day, such payment shall be made on the next succeeding
Business Day, and such extension of time shall be included in the computation
of the payment of interest on this Note.

     This Note is subject to mandatory prepayments and to prepayments at the
option of the Company, all as provided in the Credit Agreement.

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

     Upon the occurrence of an Event of Default, the unpaid balance of the
principal amount of this Note, together with all accrued and unpaid interest
thereon, may become, or may be declared to be, due and payable in the manner,
upon the conditions and with the effect provided in the Credit Agreement.

     This Note is entitled to the benefits of the Subsidiary Guaranty and is
secured pursuant to the Collateral Documents.

     The terms of this Note are subject to amendment only in the manner
provided in the Credit Agreement.

     This Note is subject to restrictions on transfer or assignment as provided
in subsection 10.1 of the Credit Agreement.

EXHIBITS TO CREDIT AGREEMENT

Exh. IV-C-1

 

     No reference herein to the Credit Agreement and no provision of this Note
or the Credit Agreement shall alter or impair the obligations of the Company,
which are absolute and unconditional, to pay the principal of and interest on
this Note at the place, at the respective times, and in the currency herein
prescribed.

     The Company promises to pay all costs and expenses, including reasonable
attorneys’ fees, all as provided in subsection 10.2 of the Credit Agreement,
incurred in the collection and enforcement of this Note. The Company and any
endorsers of this Note hereby consent to renewals and extensions of time at or
after the maturity hereof, without notice, and hereby waive diligence,
presentment, protest, demand and notice of every kind and, to the full extent
permitted by law, the right to plead any statute of limitations as a defense to
any demand hereunder.

EXHIBITS TO CREDIT AGREEMENT

Exh. IV-C-2

 

     IN WITNESS WHEREOF, the Company has caused this Note to be duly executed
and delivered by its officer thereunto duly authorized as of the date and at
the place first written above.

	 	 	 	 	 
	 	TRANSPORTATION TECHNOLOGIES INDUSTRIES,

     INC.

 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

EXHIBITS TO CREDIT AGREEMENT

Exh. IV-C-3

 

	 	 	 	 	 

TRANSACTIONS

ON

SWING LINE NOTE

	 	 	 
	 	 	 	 	 	 	 	 	Outstanding	 	 	 
	 	 	Amount of	 	 	Amount of	 	 	Principal	 	 	 
	 	 	Loan Made	 	 	Principal Paid	 	 	Balance This	 	 	Notation
	Date
	 	This Date
	 	 	This Date
	 	 	Date
	 	 	Made By

EXHIBITS TO CREDIT AGREEMENT

Exh. IV-C-4

 

EXHIBIT V

FORM OF SUBSIDIARY GUARANTY

see Tab 4

EXHIBITS TO CREDIT AGREEMENT

Exh. V-1

 

EXHIBIT VI

FORM OF PLEDGE AGREEMENT

see Tab 6

EXHIBITS TO CREDIT AGREEMENT

Exh. VI-1

 

EXHIBIT VII

FORM OF SECURITY AGREEMENT

see Tab 8

EXHIBITS TO CREDIT AGREEMENT

Exh. VII-1

 

EXHIBIT VIII

FORM OF COMPLIANCE CERTIFICATE

COMPLIANCE CERTIFICATE

see attached

EXHIBITS TO CREDIT AGREEMENT

Exh. VIII-1

 

EXHIBIT VIII TO

CREDIT AGREEMENT

COMPLIANCE CERTIFICATE

THE UNDERSIGNED HEREBY CERTIFIES AS FOLLOWS:

     1. I am the Chief Financial Officer of each of Transportation
Technologies Industries, Inc. (“Company”).

     2. I have reviewed the terms of that certain First Lien Credit Agreement,
dated as of March 16, 2004 (as further amended, restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”), by and among the
Company, the banks, financial institutions and other entities listed therein as
Lenders, and Credit Suisse First Boston, as the Administrative Agent
Capitalized terms used herein and not defined herein shall have the meanings
assigned to such terms in the Credit Agreement, and I have made, or have caused
to be made under my supervision, a review in reasonable detail of the
transactions and condition of Company and its Subsidiaries during the
accounting period covered by the attached financial statements.

     3. The examination described in paragraph 2 above did not disclose, and I
have no knowledge of, the existence of any condition or event which constitutes
an Event of Default or Default during or at the end of the accounting period
covered by the attached financial statements or as of the date of this
Certificate, except as set forth in a separate attachment, if any, to this
Certificate, describing in detail, the nature of the condition or event, the
period during which it has existed and the action which Company has taken, is
taking, or proposes to take with respect to each such condition or event.

     The foregoing certifications, together with the computations set forth in
the Annex A hereto and the financial statements delivered with this Certificate
in support hereof, are made and delivered [mm/dd/yy] pursuant to Section 6.1
(iii) of the Credit Agreement.

	 	 	 	 	 
	 	 	TRANSPORTATION TECHNOLOGIES INDUSTRIES,
    INC.
	 
	 	 	 	 
	

	 	By:
	 	
Title: Chief Financial Officer

 

 

ANNEX A TO

COMPLIANCE CERTIFICATE

FOR THE FISCAL QUARTER ENDING [mm/dd/yy].

	 	 	 	 	 	 	 	 	 	 	 
	1. Consolidated Adjusted EBITDA: (i)-(ii) =	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	(i)
	 	(a)
	 	Consolidated Net Income:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	plus, to the extent deducted in calculating (i)(a):	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(b)
	 	income tax expense:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(c)
	 	interest expense, amortization or write-off of debt discount and debt issuance
costs and commissions, discounts and other fees and charges associated with
Indebtedness (including the Loans):
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(d)
	 	total depreciation expense:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(e)
	 	total amortization expense:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(f)
	 	costs and expenses incurred in connection with the Transaction:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(g)
	 	deferred directors’ fees:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(h)
	 	management bonuses related to the Preferred Stock paid in connection with the
Transaction:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(i)
	 	fees paid to accountants and tax advisors in connection with any tax refund
received by the Company and the re-audit of the Company’s 2001 audited financial
statements:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	Maximum:

	 	 	$	1,000,000
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(j)
	 	any non-cash charges:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(k)
	 	non-cash losses:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	(ii)	 	to the extent added in computing such Consolidated Net Income:	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(a)
	 	any interest income:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(b)
	 	any non-cash gains:
	 	 	$	[___,___,___]

 

 

	 	 	 	 	 	 	 	 	 	 
	2. Consolidated Capital Expenditures: (i)-(ii) =	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 
	 	 	(i)	 	aggregate of all expenditures (whether paid in cash or other consideration or accrued
as a liability) by the Company and its Subsidiaries during such period that, in
accordance with GAAP, are required to be included in “additions to property, plant or
equipment”:	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 
	

	 	(ii)
	 	(a)
	 	expenditures made to consummate any Permitted Acquisition:
	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 
	

	 	 	 	(b)
	 	investments in Guarantors (so long as such investments are not used for capital
expenditures):
	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 
	

	 	 	 	(c)
	 	expenditures in respect of the reinvestment of proceeds derived from Recovery
Events, Asset Dispositions or any sale leaseback transactions permitted pursuant to
subsection 7.8 of the Credit Agreement, received by the Company and its Subsidiaries
to the extent that such reinvestment is permitted under the Loan Documents:
	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 
	

	 	 	 	(d)
	 	the purchase price of equipment purchased during such period to the extent the
consideration therefore consists of used or surplus equipment traded in at the time
of the purchase (or the proceeds of a substantially concurrent sale of such used or
surplus equipment):
	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	Maximum:
	 	$	1,000,000
	 
	 	 	 	 	 	 	 	 	 
	3. Consolidated Net Income: (i)-(ii) = $[___,___,___]	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 	 	(i)	 	the net income (or loss) of Holdings and its Subsidiaries on a consolidated basis for
such period taken as a single accounting period determined in conformity with GAAP:	 	$	 [___,___,___]
	 
	 	 	 	 	 	 	 	 	 
	

	 	(ii)
	 	(a)
	 	the income of any Person in which any other Person (other than the Company or any
of its Subsidiaries or any director holding qualifying shares in compliance with
applicable law) has a joint interest, to the extent of such interest held by Persons
other than the Company and its Subsidiaries in such Person:
	 	$	[___,___,___]

-2-

 

	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(b)
	 	the income (or loss) of any Person accrued prior to the date it becomes a
Subsidiary or is merged into or consolidated with the Company or any of its
Subsidiaries or the date that Person’s assets are acquired by the Company or any of
its Subsidiaries:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(c)
	 	the income of any Subsidiary of Holdings to the extent that the declaration or
payment of dividends or similar distributions by that Subsidiary of that income is
not at the time permitted by operation of the terms of its charter or any agreement,
instrument, judgment, decree, order, statute, rule or governmental regulation
applicable to that Subsidiary:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(d)
	 	any after tax gains or losses attributable to sales of assets out of the ordinary
course of business:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(e)
	 	to the extent not included in clauses (ii)(a) through (d) above, any net
extraordinary gains or net non-cash extraordinary losses:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	4. Funded Debt:	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	5. Fixed Charge Coverage Ratio: (i)/(ii) =	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	(i)	 	(a) — (b):	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(a)
	 	Consolidated Adjusted EBITDA for the four-Fiscal Quarter Period then ended:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(b)
	 	Consolidated Capital Expenditures:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	(ii)	 	(a) + (b) + (c):	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(a)
	 	Consolidated Interest Expense:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(b)
	 	Scheduled Funded Debt Payments for the applicable period:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(c)
	 	cash taxes based on the net income of the Company paid:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	Actual     	 	 	 	_.___:1.00
	

	 	 	 	 	 	Required:
	 	 	 	_.___:1.00
	 
	 	 	 	 	 	 	 	 	 	 
	6. Interest Coverage Ratio: (i)/(ii) =	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	(i)	 	Consolidated Adjusted EBITDA for the
twelve-month Period then ended:	 	 	$	[___,___,___]

-3-

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	(ii)	 	Consolidated Interest Expense for the
twelve-month Period:	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	Actual     	 	 	 	_.___:1.00
	 	 	 	 	 	 	Required:	 	 	 	_.___:1.00
	 
	 	 	 	 	 	 	 	 	 	 
	7. Leverage Ratio: (i)/(ii) =	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	(i)	 	Funded Debt for the twelve-month Period then ended:

Consolidated Adjusted EBITDA for the	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	(ii)	 	twelve-month period then ended:	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	Actual      
	 	 	 	_.___:1.00
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Required:	 	 	 	_.___:1.00
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	FOR THE FISCAL YEAR ENDING [mm/dd/yy].	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	8. Maximum Consolidated Capital Expenditures	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Actual      	 	 	$	[___,___,___]
	 	 	 	 	 	 	Maximum:	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	plus, 50% of the excess, if any, of the permitted amount over the actual amount of
Consolidated Capital Expenditures for previous Fiscal year:	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	9. Consolidated Working Capital: (i) — (ii) = $[___,___,___]	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	(i)	 	Consolidated Current Assets:	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	(ii)	 	Consolidated Current Liabilities:	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	10. Consolidated Working Capital Adjustment: (i) — (ii) =	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	(i)	 	Consolidated Working Capital as of the beginning of such period:	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	(ii)	 	Consolidated Working Capital as of the end of such period:	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	11. Consolidated Excess Cash Flow: (i) — (ii) =	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	(i)
	 	(a)
	 	Consolidated Adjusted EBITDA
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(b)
	 	Consolidated Working Capital Adjustment
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(c)
	 	extraordinary cash income, if any, not included in Consolidated EBITDA:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	(ii)
	 	(a)
	 	provisions for taxes based on income:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(b)
	 	cash Consolidated Capital Expenditures:
	 	 	$	[___,___,___]

-4-

 

	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(c)
	 	cash interest paid:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(d)
	 	Scheduled Funded Debt Payments and, in the case of purchase money Indebtedness
only, mandatory principal repayments of Indebtedness made during such Fiscal Year:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(e)
	 	prepayments of the principal of any Indebtedness during such Period1:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(f)
	 	extraordinary cash expenses paid, if any, not included in Consolidated EBITDA:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(g)
	 	cash consideration paid for Permitted Acquisitions during such Fiscal Year to the
extent not financed with the proceeds of Indebtedness or the issuance of securities:
	 	 	$	[___,___,___]
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	(h)
	 	Permitted Investments under paragraphs (vi) and (vii) of the definition thereof
made in cash during such Fiscal Year:
	 	 	$	[___,___,___]

	1	 	Other than Indebtedness (y) under the Second Lien Credit Agreement and (z)
that is repaid with the proceeds of any Equity Issuances or other Indebtedness
incurred by the Company or any of its Subsidiaries, and only to the extent that
such prepaid amounts cannot by their terms be reborrowed or redrawn or redrawn
and do not occur in connection with a refinancing of all or any portion of such
Indebtedness.

-5-

 

Notes

-6-

 

EXHIBIT IX

FORM OF OPINIONS OF COUNSEL TO LOAN PARTIES

see Tab 14

EXHIBITS TO CREDIT AGREEMENT

Exh. IX-1

 

EXHIBIT X

[FORM OF FINANCIAL CONDITION CERTIFICATE]

FINANCIAL CONDITION CERTIFICATE

     THE UNDERSIGNED HEREBY CERTIFIES AS FOLLOWS:

     1. I am the chief financial officer of TRANSPORTATION TECHNOLOGIES
INDUSTRIES, INC., as Borrower (the “Company”).

     2. Reference is made to that certain First Lien Credit Agreement dated as
of March 16, 2004 (as further amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), by and among the Company,
the Lenders party thereto from time to time, Credit Suisse First Boston, as the
Administrative Agent, Collateral Agent and, together with Lehman Brothers, Inc.
and Wachovia Capital Markets, LLC (“Wachovia”), Joint Bookrunner and Joint
Lead Arranger, and Lehman Commercial Paper Inc., as Co-Syndication Agent
together with Wachovia. Capitalized terms used herein and not defined herein
shall have the meanings assigned to such terms in the Credit Agreement.

     3. I have reviewed the terms of Sections 4 and 5 of the Credit Agreement
and the definitions and provisions contained in the Credit Agreement relating
thereto, together with each of the Transaction Documents, and, in my opinion,
have made, or have caused to be made under my supervision, such examination or
investigation as is necessary to enable me to express an informed opinion as to
the matters referred to herein.

     4. Based upon my review and examination described in paragraph 3 above, I
certify that as of the date hereof, (i) after giving effect to the consummation
of the Transactions, the related financings and the other transactions
contemplated by the Loan Documents and the Transaction Documents, each Loan
Party is Solvent; (ii) the Company’s Pro Forma EBITDA for the four-Fiscal
Quarter period ended December 31, 2003 is $[   ]; (iii) the Company’s ratio
of Senior Secured Debt on the Closing Date to Pro Forma EBITDA is [   ]1.0;
and (iv) the Company’s ratio of Funded Debt on the Closing Date to Pro Forma
EBITDA is [   ]:1.0.

     The foregoing certifications are made and delivered as of March [   ],
2004.

	 	 
	
	
Title: Chief Financial Officer

EXHIBITS TO CREDIT AGREEMENT

Exh. X-1

 

EXHIBIT XI

[FORM OF ASSIGNMENT AGREEMENT]

ASSIGNMENT AGREEMENT

     This Assignment and Assumption Agreement (the “Assignment”) 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 First Lien Credit Agreement identified below (as
it may be amended, supplemented or otherwise modified from time to time, 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 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 Administrative Agent as contemplated below, the interest in and to all of
the Assignor’s rights and obligations under the Credit Agreement and any other
documents or instruments delivered pursuant thereto that represents the amount
and percentage interest identified below of all of the Assignor’s outstanding
rights and obligations under the respective facilities identified below
(including, to the extent included in any such facilities, letters of credit
and swingline loans) (the “Assigned Interest”). Such sale and assignment is
without recourse to the Assignor and, except as expressly provided in this
Assignment and the Credit Agreement, without representation or warranty by the
Assignor.

	 	 	 
	1. Assignor:

	 	_____________________________
	 
	 	 
	2. Assignee:

	 	_____________________________[and is an Affiliate/Approved Fund of [the Assignor]1
	 
	 	 
	3. Company:

	 	Transportation Technologies Industries, Inc.
	 
	 	 
	4. Administrative Agent:

	 	Credit Suisse First Boston, as the administrative agent under the Credit Agreement
	 
	 	 
	5. Credit Agreement:

	 	The Credit Agreement dated as of March 16, 2004 among
Transportation Technologies Industries, Inc., as Borrower, the Lenders
parties thereto from time to time, Credit Suisse First Boston, as
Administrative Agent, and the other agents party thereto

	1	 	Select as applicable.

EXHIBITS TO CREDIT AGREEMENT

Exh. XI-1

 

 

	6.	 	Assigned Interest:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Aggregate Amount of	 	Amount of	 	 
	 	 	Commitment/Loans	 	Commitment/Loans	 	Percentage Assigned of
	Facility Assigned
	 	for all Lenders
	 	Assigned
	 	Commitment/Loans2

	_____________3
	 	$	—	 	 	$	—	 	 	 	—	%
	_____________
	 	$	—	 	 	$	—	 	 	 	—	%
	_____________
	 	$	—	 	 	$	—	 	 	 	—	%

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

     7. Notice and Wire Instructions:

	 	 	 
	[NAME OF ASSIGNOR]

	 	[NAME OF ASSIGNEE]
	 
	 	 
	Notices:

	 	Notices:
	 
	 	 
	

	 	

	

	 	

	

	 	

	Attention:

	 	Attention:

	Telecopier:

	 	Telecopier:

	 
	 	 
	

	 	

	

	 	

	

	 	

	Attention:

	 	Attention:

	Telecopier:

	 	Telecopier:

	 
	 	 
	Wire Instructions:

	 	Wire Instructions:

	2	 	Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of
all Lenders thereunder.
	 
	3	 	Fill in the appropriate terminology for the types of facilities under the
Credit Agreement that are being assigned under this Assignment (e.g.,
“Revolving Loan Commitment,” “Term Loan Commitment,” etc.).

EXHIBITS TO CREDIT AGREEMENT

Exh. XI-2

 

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

	 	 	 	 	 
	 	 	ASSIGNOR
[NAME OF ASSIGNOR]
	 
	 	 	 	 
	

	 	By:
	 	

Title:
	 	 	 
	 	 	ASSIGNEE

[NAME OF ASSIGNEE]
	 
	 	 	 	 
	

	 	By:
	 	

Title:

[Consented to
and]4 Accepted:

CREDIT SUISSE FIRST BOSTON,
   as Administrative Agent

	 	 	 
	By:

	 	

	

	 	Title:

[Consented
to:5

TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC.

	 	 	 
	By:

	 	

	

	 	Title:

	4	 	To be added only if the consent of the Administrative Agent is required by the
terms of the Credit Agreement.
	 
	5	 	To be added only if the consent of the Company is required by the terms of the
Credit Agreement.

EXHIBITS TO CREDIT AGREEMENT

Exh. XI-3

 

ANNEX 1

STANDARD TERMS AND CONDITIONS FOR ASSIGNMENT

AND ASSUMPTION AGREEMENT

	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 to consummate the transactions contemplated hereby;
and (b) assumes no responsibility with respect to (i) any
statements, warranties or representations made in or in connection
with any Loan Document, (ii) the execution, legality, validity,
enforceability, genuineness, sufficiency or value of the Credit
Agreement or any other instrument or document delivered pursuant
thereto, other than this Assignment (herein collectively 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 Credit 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 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, (iii) from and after the
Effective Date, it shall be bound by the provisions of the Credit
Agreement 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 and such other documents and information as
it has deemed appropriate to make its own credit analysis and
decision to enter into this Assignment and to purchase the Assigned
Interest on the basis of which it has made such analysis and
decision, and (v) if it is a Foreign Lender, attached to the
Assignment 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 Administrative Agent, the
Assignor or any other Lender, and based on such documents and
information as it shall deem appropriate at that time, continue to
make its own credit decisions in taking or not taking action under
the Credit Documents, and (ii) it will perform in accordance with
their terms all of the obligations which by the terms of the Credit
Documents are required to be performed by it as a Lender.

	2.	 	Payments. From and after the Effective Date, the Administrative Agent
shall make all payments in respect of the Assigned Interest (including
payments of principal, interest, fees and other amounts) to the Assignor
for amounts which have accrued to but excluding the Effective Date and to
the Assignee for amounts which have accrued from and after the Effective
Date.
	 
	3.	 	General Provisions. This Assignment shall be binding upon, and inure to
the benefit of, the parties hereto and their respective successors and
assigns. This Assignment may be executed in any number of counterparts,
which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page of this Assignment by telecopy shall be
effective as delivery of a manually executed counterpart of this
Assignment. This Assignment shall be governed by, and construed in
accordance with, the internal laws of the State of New York without regard
to conflict of laws principles thereof.

EXHIBITS TO CREDIT AGREEMENT

Exh. XI-4

 

EXHIBIT XII

FORM OF COLLATERAL ACCOUNT AGREEMENT

see Tab 7

EXHIBITS TO CREDIT AGREEMENT

Exh. XII-1

 

EXHIBIT XIII

FORM OF MORTGAGE

see Real Estate closing set

EXHIBITS TO CREDIT AGREEMENT

Exh. XIII-1

 

EXHIBIT XIV

FORM OF INTERCREDITOR AGREEMENT

see Tab 28

EXHIBITS TO CREDIT AGREEMENT

Exh. XIV-1

 

Schedule 1.1(a)

CERTAIN ADJUSTMENTS

Adjustments to Pro Forma EBITDA

	 	 	 	 	 
	Nonrecurring items
	 	 	 	 
	Management bonus (Preferred Stock transaction
	 	$	300,000	 
	2001 Re-audit fees
	 	$	110,000	 
	Non-cash losses
	 	 	 	 
	Gunite fixed asset disposals
	 	$	711,00	 
	Imperial fixed asset disposals
	 	$	368,000	 
	Exchange of Subordinated Debt for Preferred Stock
	 	$	1,803,000	 
	Non-cash gains
	 	 	 	 
	Railcar interest
	 	$	(10,000,000	)
	Reduction of environmental remediation liability
	 	$	(6,636,000	)
	Fabco facility sale
	 	$	(3,679,000	)
	 
	 	 	
 	 
	 
	 	$	(17,023,000	)

Adjustments to Consolidated Interest Expense

For the purposes of calculating Consolidated Interest Expense for any period
prior to the first anniversary of the Closing Date, Consolidated Interest
Expense shall be an amount equal to actual Consolidated Interest Expense from
the Closing Date through the date of determination multiplied by a fraction,
the numerator of which is 365 and the denominator of which is the number of
days from the Closing Date through the date of determination.

 

 

Schedule l.l(b)

MANAGEMENT SHAREHOLDERS

Thomas Begel

Camillo Santomero

Andrew Weller

Fred Culbreath

Joe Hicks

James Cirar

Robert Jackson

Donald Mueller

Kenneth Tallering

John Wilkinson

Timothy Masek

Adam Gottlieb

Brent Williams

Kelly Bodway

Allen Sunderland

Marty Drennan

William Faut

Peter Oldis

Michael Stevens

Anthony Donatelli

Michael Buhlert

John Schneider

Benjamin Ward

Jon Young

Omar Fakhoury

Anthony Miller

Thomas Splinter

Steven Witherspoon

Randy Brull

John Crume

James Peterson

Brad Rolfe

Donald Williams

Michael Irish

 

 

Schedule 1.1(c)

EXISTING LETTERS OF CREDIT

	 	 	 	 	 	 	 	 	 
	Beneficiary
	 	Company
	 	Amount
	 	Issuer

	Letters of Credit
	 	 	 	 	 	 	 	 
	Reliance Insurance Company
	 	Truck Components Inc.	 	$	337,394.00	 	 	Wachovia
	State of Wisconsin Department of
Natural Resources
	 	Brillion Iron Works, Inc.	 	 	319,431.78	 	 	Wachovia
	Sheffield Properties
	 	TTI	 	 	67,135.10	 	 	Wachovia
	National Union Fire Insurance Co.
of Pittsburgh, PA
	 	TTI	 	 	1,010,000.00	 	 	Wachovia
	EBIT Companies
	 	Truck Components Inc.	 	 	33,000.00	 	 	Wachovia
	Bank One Michigan (Bostrom IRB)
	 	TTI	 	 	3,157,074.00	 	 	Wachovia
	United States Fidelity & Guarantee
	 	TTI	 	 	7,800,000.00	 	 	Wachovia
	Unitrin Ins./Trinity Universal
	 	TTI	 	 	150,000.00	 	 	Wachovia
	Royal & Sun Alliance
	 	TTI	 	 	3,000,000.00	 	 	Wachovia
	Ace American Insurance
	 	TTI	 	 	3,000,000.00	 	 	Wachovia
	 
	 	 	 	 	
 	 	 	 
	Total
	 	 	 	$	18,874,034.88	 	 	 

 

 

Schedule 2.1A(i)

TERM LOAN COMMITMENTS

	 	 	 	 	 	 	 	 	 
	 	 	First Priority	 	 
	Lender
	 	Term Loan Commitment
	 	Pro Rata Share

	CREDIT SUISSE FIRST BOSTON,

acting through its Cayman Islands
Branch
	 	$	112,500,000.00	 	 	 	97.83	%
	LASALLE BANK NATIONAL ASSOCIATION
	 	$	2,500,000.00	 	 	 	2.17	%
	 
	 	 	
 	 	 	 	
 	 
	Total
	 	$	1,000,000.00	 	 	 	100.00	%
	 
	 	 	
 	 	 	 	
 	 

 

 

Schedule 2.1A(ii)

REVOLVING LOAN COMMITMENTS

	 	 	 	 	 	 	 	 	 
	 	 	First Priority	 	 
	Lender
	 	Revolving Loan Commitment
	 	Pro Rata Share

	CREDIT SUISSE FIRST BOSTON,

acting through its Cayman
Islands Branch
	 	$	12,500,000.00	 	 	 	25.00	%
	WACHOVIA BANK, NATIONAL
ASSOCIATION
	 	$	12,500,000.00	 	 	 	25.00	%
	LEHMAN COMMERCIAL PAPER INC.
	 	$	12,500,000.00	 	 	 	25.00	%
	LASALLE BANK NATIONAL
ASSOCIATION
	 	$	12,500,000.00	 	 	 	25.00	%
	 
	 	 	
 	 	 	 	
 	 
	Total
	 	$	50,000,000.00	 	 	 	100.00	%
	 
	 	 	
 	 	 	 	
 	 

 

 

Schedule 4.1F

PLEDGED SHARES

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Outstanding
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Options,
	 	 	Percentage	 	 	 	 	 	No. Shares	 	Warrants,
	 	 	Ownership	 	 	 	Jurisdiction of	 	of Capital	 	Conversion
	Subsidiary
	 	Interest
	 	Registered Owner
	 	Incorporation
	 	Stock
	 	Rights

	Truck Components, Inc.

	 	 	100	%	 	Transportation Technologies
Industries, Inc.
	 	Delaware
	 	 	100	 	 	N/A
	Gunite Corporation

	 	 	100	%	 	Truck Components Inc.
	 	Delaware
	 	 	10,000	 	 	N/A
	Gunite EMI Corporation

	 	 	100	%	 	Gunite Corporation
	 	Delaware
	 	 	100	 	 	N/A
	Brillion Iron Works, Inc.

	 	 	100	%	 	Truck Components Inc.
	 	Delaware
	 	 	10,000	 	 	N/A
	Fabco Automotive Corporation

	 	 	100	%	 	Truck Components Inc.
	 	Delaware
	 	 	10,000	 	 	N/A
	Bostrom Holdings, Inc.

	 	 	100	%	 	Transportation Technologies
Industries, Inc.
	 	Delaware
	 	 	100	 	 	N/A
	Bostrom Seating, Inc.

	 	 	100	%	 	Bostrom Holdings, Inc.
	 	Delaware
	 	 	1,111.78	 	 	N/A
	Bostrom Specialty Seating, Inc.

	 	 	100	%	 	Bostrom Holdings, Inc.
	 	Delaware
	 	 	100	 	 	N/A
	Bostrom
Mexico S.A. de C.V.1

	 	 	99.99	%	 	Bostrom Seating, Inc.
	 	Mexico
	 	 	32,499	 	 	N/A
	JAII Management Company

	 	 	100	%	 	Transportation Technologies
Industries, Inc.
	 	Delaware
	 	 	1,000	 	 	N/A
	Imperial
Group Holding Corp.-1

	 	 	100	%	 	Transportation Technologies
Industries, Inc.
	 	Delaware
	 	 	100	 	 	N/A
	Imperial
Group Holding Corp.-2

	 	 	100	%	 	Transportation Technologies
Industries, Inc.
	 	Delaware
	 	 	100	 	 	N/A
	Imperial Group, L.P.

	 	 	1	%	 	Imperial Group Holding
Corp.-1

(General Partner)
	 	Delaware
	 	 	N/A	 	 	N/A
	

	 	 	99	%	 	Imperial Group Holding Corp.-2

(Limited Partner)	 	 	 	 	 	 	 	 

	1	 	1 share of 50,000 total issued to Mexican director pursuant to statutory
requirement.

 

 

Schedule 4.1G

CLOSING DATE MORTGAGED PROPERTY

Transportation Technologies Industries, Inc.

None

Truck Components Inc.

None

Gunite Corporation

302 Peoples Avenue

Rockford, Winnebago County, Illinois 61104

Allocated Value: $1,790,428

Elkhart Plant No. 1

801 County Road 15

Elkhart, Elkhart County, Indiana 46516

Allocated Value: $5,095,200

Gunite EMI Corporation

None

Fabco Automotive Corporation

None

Brillion Iron Works, Inc.

200 Park Avenue

Brillion, Calumet County, Wisconsin 54110

Allocated Value: $4,420,575

Bostrom Seating, Inc.

None

Bostrom Holdings, Inc.

None

Bostrom Specialty Seating, Inc.

None

Bostrom Mexico S.A. de C.V.

None

 

 

JAII Management Company

None

Imperial Group Holding Corp. -1

None

Imperial Group Holding Corp. -2

None

Imperial Group, L.P.

Highway 380

East Decatur, Wise County, Texas

                    and

4000 Highway 380

East Decatur, Wise County, Texas

Total Allocated Value for Highway 380 and 4000 Highway 380: $2,102,544

206 Maurin Road

Chehalis, Lewis County, Washington

Allocated Value: $3,500,000

111 Industrial Drive

Portland, Sumner County, Tennessee

Allocated Value: $1,150,000

5155 Cougar Center Drive

Pulaski County, Virginia

Allocated Value: $4,400,000

-2-

 

Schedule 4.1Q

CORPORATE, CAPITAL AND MANAGEMENT STRUCTURE

	(i)	 	Corporate Structure

     — Each is a Delaware corporation or limited partnership, except as noted

     — Indentation indicates subsidiary status

     Transportation Technologies Industries, Inc.

Truck Components, Inc.

Gunite Corporation

Gunite EMI Corporation

Brillion Iron Works, Inc.

Fabco Automotive Corporation

Bostrom Holdings, Inc.

Bostrom Seating, Inc.

Bostrom Mexico S.A. de C.V. (Mexican corporation)

Bostrom Specialty Seating, Inc.

Imperial Group Holding Corp.-1 (General Partner of Imperial Group, L.P.)

Imperial Group Holding Corp.-2 (Limited Partner of Imperial Group, L.P.)

Imperial Group, L.P.

JAIL Management Company

	(ii)	 	Capital Structure (TTI Capital Structure as of 12/31/03 on a Pro Forma Basis,
Giving Effect to Transactions)

Senior Debt

	 	 	 	 	 
	Revolver

	 	$0 drawn
	 	$50 MM commitment
	Other Senior Debt

	 	$3.1 MM
	 	Bostrom IRB
	First Lien Term Loan

	 	$115 MM	 	 
	Second Lien Term Loan

	 	$100 MM	 	 

Subordinated Debt

	 	 	 	 	 
	Subordinated Debt

	 	$100.5 MM
	 	Assumes $20.4 MM paydown

 

 

Series E Senior Preferred Stock

41,475 shares outstanding ($41.5 MM liquidation preference), owned as
follows:

78.6% by Transportation Investment Partners and affiliates

15.2% by Albion Alliance

6.1 % by management collectively

Series A 14.5% Preferred Stock (junior to Series E, senior to Series D and pari
passu with Series C)

119,696 shares outstanding ($119.7 MM liquidation preference), owned as
follows:

71.4% by Transportation Investment Partners

14.3% by Caravelle

14.3% by Albion Alliance

Series C Preferred Stock (pari passu with Series A)

14,000 shares outstanding (generally $16.5 MM liquidation preference),
owned by management collectively

Series D Preferred Stock (junior to Series A and C)

42,000 shares outstanding (generally $49.5 MM liquidation preference),
owned as follows:

74.0% by Transportation Investment Partners

12.1 % by Caravelle

7.9% by Albion Alliance

6.0% by C1BC

Common Stock (fully diluted, including numerous warrants and 10,000 options
granted to Jim Cirar)

2,784,415 shares outstanding, owned as follows:

51.1 % by Transportation Investment Partners

8.5% by Caravelle

5.4% by Albion Alliance

4.1% by CIBC (warrants)

30.9% by management collectively

Additionally, the following warrants are outstanding:

100,000 warrants at $21.50/share held by Transportation Investment
Partners, Caravelle and management

465,116 warrants at $0.01/share held by Transportation Investment
Partners, Caravelle and management

200,656 warrants at $0.01/share held by CIBC and Wachovia (warrants
outstanding but cannot become exercisable by their terms)

-2-

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Outstanding
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Options,
	 	 	Percentage	 	 	 	 	 	No. Shares	 	Warrants,
	 	 	Ownership	 	 	 	Jurisdiction of	 	of Capital	 	Conversion
	Subsidiary
	 	Interest
	 	Registered Owner
	 	Incorporation
	 	Stock
	 	Rights

	Truck Components, Inc.

	 	 	100	%	 	Transportation Technologies
Industries, Inc.
	 	Delaware
	 	 	100	 	 	N/A
	Gunite Corporation

	 	 	100	%	 	Truck Components Inc.
	 	Delaware
	 	 	10,000	 	 	N/A
	Gunite EMI Corporation

	 	 	100	%	 	Gunite Corporation
	 	Delaware
	 	 	100	 	 	N/A
	Brillion Iron Works, Inc.

	 	 	100	%	 	Truck Components Inc.
	 	Delaware
	 	 	10,000	 	 	N/A
	Fabco Automotive Corporation

	 	 	100	%	 	Truck Components Inc.
	 	Delaware
	 	 	10,000	 	 	N/A
	Bostrom Holdings, Inc.

	 	 	100	%	 	Transportation Technologies
Industries, Inc.
	 	Delaware
	 	 	100	 	 	N/A
	Bostrom Seating, Inc.

	 	 	100	%	 	Bostrom Holdings, Inc.
	 	Delaware
	 	 	1,111.78	 	 	N/A
	Bostrom Specialty Seating, Inc.

	 	 	100	%	 	Bostrom Holdings, Inc.
	 	Delaware
	 	 	100	 	 	N/A
	Bostrom
Mexico S.A. de C.V.1

	 	 	99.99	%	 	Bostrom Seating, Inc.
	 	Mexico
	 	 	49,999	 	 	N/A
	JAII Management Company

	 	 	100	%	 	Transportation Technologies
Industries, Inc.
	 	Delaware
	 	 	1,000	 	 	N/A
	Imperial
Group Holding Corp.-1

	 	 	100	%	 	Transportation Technologies
Industries, Inc.
	 	Delaware
	 	 	100	 	 	N/A
	Imperial Group Holding Corp.-2

	 	 	100	%	 	Transportation Technologies
Industries, Inc.
	 	Delaware
	 	 	100	 	 	N/A
	Imperial Group, L.P.

	 	 	1	%	 	Imperial Group Holding Corp.-1
(General Partner)
	 	Delaware
	 	 	N/A	 	 	N/A
	

	 	 	99	%	 	Imperial Group Holding Corp.-2
(Limited Partner)	 	 	 	 	 	 	 	 

	1	 	1 share of 50,000 total issued to Mexican director pursuant to statutory
requirement.

 

 

Schedule 5.1D

REGISTRATION RIGHTS AND SHAREHOLDER AGREEMENTS

Stockholder Agreement, dated March 9, 2000, as amended by Amendments No. 1
dated February 28, 2001 and No. 2 dated December 19, 2003.

Amended and Restated Common Stock Registration Rights and Stockholders
Agreement, dated February 28, 2001.

 

 

Schedule 5.4

CERTAIN PRE-CLOSING RESTRICTED PAYMENTS

Transactions consummated on December 19, 2003, including:

	1.	 	Issuance of $41.5 million of Series E Preferred stock
	 
	2.	 	Retirement of $40.0 million of Subordinated Notes (plus deferred
interest thereon)
	 
	3.	 	Issuance of 14,000 shares of Series C Preferred stock
	 
	4.	 	Issuance of 42,000 shares of Series D Preferred stock
	 
	5.	 	Payment of transaction fees, expenses and bonus related to the
foregoing

 

 

Schedule 5.5B

LOCATION OF REAL PROPERTY

	(i)	 	OWNED REAL PROPERTY

Transportation Technologies Industries, Inc.

None

Truck Components Inc.

None

Gunite Corporation

302 Peoples Avenue

Rockford, Winnebago County, Illinois 61104

Elkhart Plant No. 1

801 County Road 15

Elkhart, Elkhart County, Indiana 46516

Gunite EMI Corporation

603 W. 12th Street1

Erie, Erie County, Pennsylvania 16501

640 West 15th Street2

Erie, Erie County, Pennsylvania 16501

Fabco Automotive Corporation

None

Brillion Iron Works, Inc.

200 Park Avenue

Brillion, Calumet County, Wisconsin 54110

Bostrom Seating, Inc.

None

Bostrom Holdings, Inc.

None

	1	 	Not subject to Closing Date Mortgage.
	 
	2	 	Not subject to Closing Date Mortgage.

 

 

Bostrom Specialty Seating, Inc.

None

Bostrom Mexico S.A. de C.V.

None

JAII Management Company

None

Imperial Group Holding Corp.-1

None

Imperial Group Holding Corp. -2

None

Imperial Group, L.P.

Highway 380

East Decatur, Wise County, Texas

4000 Highway 380

East Decatur, Wise County, Texas

206 Maurin Road

Chehalis, Lewis County, Washington

111 Industrial Drive

Portland, Sumner County, Tennessee

5155 Cougar Center Drive

Pulaski County, Virginia

-2-

 

(ii) LEASED REAL PROPERTY

Transportation Technologies Industries, Inc.

980 North Michigan Avenue

Suite 1000

Chicago, Cook County, Illinois 60611

Gunite Corporation

Elkhart Plant No. 2

2601 Northland Drive

Elkhart, Elkhart County, Indiana 46514

Elkhart Warehouse

Washington Township

Elkhart, Elkhart County, Indiana

Brillion Iron Works, Inc.

None

Bostrom Seating, Inc.

2020 DownyFlake Lane

Allentown, Lehigh County, Pennsylvania 18103

Hwy 278 West

Piedmont, Calhoun County, Alabama 36272

401 East Ladiga Street

Piedmont, Calhoun County, Alabama

1303 Deerfield Land

Jacksonville, Calhoun County, Alabama 36265

Truck Components Inc.

None

Fabco Automotive Corporation

151 Lawrence Drive

Livermore, California 94551

Bostrom Holdings, Inc.

None

Bostrom Specialty Seating, Inc.

None

-3-

 

Bostrom Mexico S.A. de C.V.

None

JAII Management Company

None

Imperial Group Holding Corp- -1

None

Imperial Group Holding Corp. -2

None

Imperial Group, L.P.

160 Kirby Road

Portland, Sumner County, Tennessee

1303 North Interstate 35

Gainesville, Cooke County, Texas

1501 West End Drive

Gainesville, Cooke County, Texas

4034 Pepperell Way

Dublin, Pulaski County, Virginia

-4-

 

Schedule 5.13

ENVIRONMENTAL MATTERS

     As of December 31, 2003, the Company has a $3.0 million environmental
reserve. This reserve is based on current costs estimates and does not reduce
estimated expenditures to net present value. As a result of a private party
settlement of certain pending litigation with a prior owner of the Company’s
wheel end subsidiary, the Company will not be responsible (through a
contractual undertaking by the former owner) for certain liabilities and costs
resulting from the wheel end subsidiary’s waste disposal prior to September
1987 at certain sites. The Company currently anticipates spending approximately
$0.2 million per year in 2004 through 2008 for monitoring the various
environmental sites associated with the environmental reserve, including
attorney and consultant costs for strategic planning and negotiations with
regulators and other PRPs, and payment of remedial investigation costs. Any
cash expenditures required by the Company or its subsidiaries to comply with
applicable environmental laws and/or to pay for any remediation efforts will
not be reduced or otherwise affected by the existence of the environmental
reserve. There are significant uncertainties as to waste quantities involved,
the extent and timing of the remediation which will be required, the range of
acceptable solutions, costs of remediation and the number of PRPs contributing
to such costs. Based on all of the information presently available to it, the
Company believes that the environmental reserve will be adequate to cover its
future costs related to the sites associated with the environmental reserve,
and that any additional costs will not have a material adverse effect on the
financial condition or results of operations of the Company. However, the
discovery of additional sites, the modification of existing laws or
regulations, the imposition of joint and several liability under CERCLA or the
uncertainties referred to above could result in such a material adverse effect.

     USEPA conducted an environmental multimedia inspection at the Gunite
Rockford, Illinois plant during the period September 9 through 11 and 16, 2003
and October 16, 2003. To date, Gunite has not received any written report or
notice from USEPA regarding the multimedia inspection.

     The Iron and Steel Foundry National Emission Standard for Hazardous Air
Pollutants (NESHAP) was signed by USEPA on August 29, 2003 and is awaiting
publication in the Federal Register. The Iron and Steel Foundry NESHAP was
developed pursuant to Section 112(d) of the Clear Air Act and requires all
major sources of hazardous air pollutants to install controls representative of
maximum achievable control technology. Presently there is uncertainty as to
whether determination of NESHAP applicability is to be made one year or three
years after publication of the NESHAP in the Federal Register. The Company is
evaluating the applicability of the Iron and Steel Foundry NESHAP to its Gunite
and Brillion operations. If determined to be applicable, compliance with the
Iron and Steel Foundry NESHAP may result in future significant capital costs.

Gunite On-site and Off site Issues

	 	1.	 	Southeast Rockford Groundwater Superfund Site including
Eckberg Park: Costs expected to be associated with ongoing air and
groundwater sampling and monitoring, and administrative oversight of
remedial activities.
	 
	 	2.	 	MIG/Dewane Landfill Superfund Site: Costs expected to be
associated with administrative oversight of remedial and monitoring
activities.
	 
	 	3.	 	Interstate Pollution Control Superfund Site: Costs expected
to be associated with administrative oversight of remedial and
monitoring activities.
	 
	 	4.	 	K-H Pond: Costs expected to be associated with
administrative oversight.
	 
	 	5.	 	K-H Landfill: Costs expected to be associated with
administrative oversight.
	 
	 	6.	 	Sludge Pit: Costs expected to be associated with oversight
and remediation.
	 
	 	7.	 	Chip Dock: Costs expected to be associated with oversight
and remediation.

 

 

	 	8.	 	Access Area: Costs expected to be associated with
administrative oversight of remedial and monitoring activities.
	 
	 	9.	 	IEPA Lawsuit Against Gunite with Complaint dated 5/23/03:
Potential costs expected to be associated with compliance and
penalties for alleged emissions violations.

Brillion On-site and Off-site Issues

	 	1.	 	Lemberger Landfill Superfund Site: Costs expected to be
associated with administrative oversight and potential remedial and
monitoring activities.
	 
	 	2.	 	Robert Diny Landfill: Costs expected to be associated with
remedial and monitoring activities.
	 
	 	3.	 	Raphael Geiger Landfill: Costs expected to be associated
with remedial and monitoring activities.
	 
	 	4.	 	City of Brillion Landfill: Costs expected to be associated
with remedial and monitoring activities.
	 
	 	5.	 	BIW Landfill: Costs expected to be associated with remedial
and monitoring activities.
	 
	 	6.	 	Underground Storage Tanks: Costs expected to be associated
with administrative oversight and potential costs of remedial and
monitoring activities.

Other Sites

	 	1.	 	Erie, PA Facility: Costs for investigating site
contamination and potential costs for remedial and monitoring
activities.
	 
	 	2.	 	Imperial New Deal, Tennessee Facility. Potential costs
expected for investigating site contamination, remedial and
monitoring activities.

-2-

 

Schedule 6.13

CASH CONCENTRATION AND LOCKBOX SYSTEM

TRANSPORTATION TECHNOLOGIES AND SUBSIDIARIES

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Unit	 	 	 	 	 	Bank Name & Address	 	Account Number	 	Account Type	 	Balance & Funding Description.
	Bostrom

	 	 	1	 	 	LaSalle Bank (LNB), Chicago, IL
	 	 	5590047972	 	 	Checking
	 	ZBA’s/Funded by TTI Main 5800260472
	

	 	 	2	 	 	LaSalle Bank (LNB), Chicago, IL
	 	 	5800155979	 	 	Lockbox
	 	ZBA’s Into TTI Main 5800260472
	

	 	 	3	 	 	Southtrust Bank, Anniston, AL
	 	 	64-849-427	 	 	Checking-Petty Cash
	 	Petty Cash — $3,000 avg bal
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Brillion

	 	 	I	 	 	Bank One, NA, Chicago, IL
	 	 	4308573	 	 	Lockbox
	 	ZBA’s Into TCI Funding 5330036968
	

	 	 	2	 	 	LaSalle Bank (LNB), Chicago, IL
	 	 	5590048004	 	 	Checking
	 	ZBA’s/Funded by TTI Main 5800260472
	

	 	 	3	 	 	Calumet County Bank, Brillion, WI
	 	 	100315	 	 	Checking-Payroll
	 	Funded from Disb 5590048004 — Avg. $350k/wk
	

	 	 	4	 	 	Calumet County Bank, Brillion, WI
	 	 	100307	 	 	Checking-Petty Cash
	 	Funded from Disb 5590048004 $2,000 bal
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Fabco

	 	 	I	 	 	Bank One, NA, Chicago, IL
	 	 	4308638	 	 	Lockbox
	 	ZBA’s into TCI Funding 5330036968
	

	 	 	2	 	 	LaSalle Bank (LNB), Chicago, IL
	 	 	5590047949	 	 	Checking
	 	ZBA’s/Funded by TTI Main 5800260472
	

	 	 	3	 	 	Wells Fargo, San Francisco, CA
	 	 	415-9298934	 	 	Checking-Payroll
	 	Funded by Disb 5590047949 — Avg. $25k/wk
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Gunite

	 	 	1	 	 	Bank One, NA, Chicago, IL
	 	 	4308530	 	 	Lockbox
	 	ZBA’s Into TCI Funding 5330036968
	

	 	 	2	 	 	Bank One, NA Canada, Toronto, CN
	 	 	1559612-1-01	 	 	Checking-Payroll
	 	Funded by Disb 5590047998 — Avg. $2k/mo.
	

	 	 	3	 	 	LaSalle Bank (LNB), Chicago, IL
	 	 	5590047931	 	 	Checking
	 	ZBA’s/Funded by TTI Main 5800260472
	

	 	 	4	 	 	LaSalle Bank (LNB), Chicago, IL
	 	 	5590047998	 	 	Checking
	 	ZBA’s/Funded by TTI Main 5800260472
	

	 	 	5	 	 	Amcore Bank, NA, Rockford, IL
	 	 	0000099499	 	 	Petty Cash/Manual Deposits
	 	Sweep Into LBX 4308530 — $25,000 bal
	

	 	 	6	 	 	Amcore Bank, NA, Rockford, IL
	 	 	0000099587	 	 	Checking-Payroll
	 	Funded by Disb 5590047998 — Avg. $125k/wk
	

	 	 	7	 	 	Amcore Bank, NA , Rockford, IL
	 	 	0000099532	 	 	Checking-Payroll
	 	Funded by DIsb 5590047998 — Avg. $300k/semi
	

	 	 	8	 	 	Key Bank, Elkhart, IN
	 	 	1206500893	 	 	Checking-Payroll
	 	Funded by Disb 5590047998 — Avg. $125k/wk

 

 

TRANSPORTATION TECHNOLOGIES AND SUBSIDIARIES

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Unit	 	 	 	 	 	Bank Name & Address	 	Account Number	 	Account Type	 	Balance & Funding Description.
	Imperial

	 	 	1	 	 	LaSalle Bank (LNB), Chicago, IL
	 	 	4490047923	 	 	Checking-Payroll
	 	ZBA’s/Funded by TTI Main 5800260472
	

	 	 	2	 	 	LaSalle Bank (LNB), Chicago, IL
	 	 	5590047980	 	 	Checking
	 	ZBA’s/Funded by TTI Main 5800260472
	

	 	 	3	 	 	AmSouth
	 	 	1002635524	 	 	Lockbox
	 	Transfer daily available to Disb 559004798
	

	 	 	4	 	 	Wells Fargo Bank, N.A., Decatur, TX
	 	 	925-0132761	 	 	TX Petty Cash-Decatur
	 	Funded by Disb 5590047980 — $1,500 bal
	

	 	 	5	 	 	First State Bank, Gainesville, TX
	 	 	1008617	 	 	TX Petty Cash-Gainesville
	 	Funded by Disb 5590047980 — $1,500 bal
	

	 	 	6	 	 	Security State Bank, Chehalis, WA
	 	 	4000823371	 	 	WA Petty cash-Chehalis
	 	Funded by Disb 5590047980 — $2,500 bal
	

	 	 	7	 	 	Volunteer State Bank, Portland, TN
	 	 	131-180-8	 	 	TN Checking Petty Cash
	 	Petty Cash — $3,000 avg bal
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	TTI

	 	 	I	 	 	LaSalle Bank (LNB), Chicago, IL
	 	 	5590047964	 	 	Checking
	 	ZBA’s/Funded by TTI Main 5800260472
	

	 	 	2	 	 	LaSalle Bank (LNB), Chicago, IL
	 	 	5800260472	 	 	Corp DDA (ZBA)
	 	Corporate Main Concentration Acct — For
	

	 	 	 	 	 	 	 	 	 	 	 	 	 	over-night Investment or debt paydown.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	TCI

	 	 	1	 	 	Bank One, NA, Chicago, IL
	 	 	4072405	 	 	Checking
	 	Funded by TTI Disb 5590047964 — $15,000 bal
	

	 	 	2	 	 	Bank One, NA, Chicago, IL
	 	 	5330036968	 	 	ZBA Transfer
	 	ZBA’s Into TTI Main 5800260472

-2-

 

TRANSPORTATION TECHNOLOGIES AND SUBSIDIARIES

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Unit	 	 	 	 	 	Bank Name & Address	 	Account Name	 	Account Number	 	Account Type
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Bostrom

	 	 	1	 	 	LaSalle Bank (LNB), Chicago, IL
	 	Bostrom Disbursements
	 	 	5590047972	 	 	Checking
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	2	 	 	LaSalle Bank (LNB), Chicago, IL
	 	Bostrom Seating Lockbox Acct
	 	 	5800155979	 	 	Lockbox
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	3	 	 	Southtrust Bank, PO Box 1000, Anniston, AL 36202
	 	Bostrom Corp Emp Fd
	 	 	64-849-427	 	 	Checking

-3-

 

TRANSPORTATION TECHNOLOGIES AND SUBSIDIARIES

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Unit	 	 	 	 	 	Bank Name & Address	 	Account Name	 	Account Number	 	Account Type
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Brillion

	 	 	I	 	 	Bank One, NA, Chicago, IL
	 	Brillion Cash Collateral
	 	 	4308573	 	 	Lockbox
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	2	 	 	LaSalle Bank (LNB), Chicago, IL
	 	Brillion Disbursements
	 	 	5590048004	 	 	Checking
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	3	 	 	Calumet County Bank, Brillion, WI
	 	Brillion Payroll
	 	 	100315	 	 	Checking-Payroll
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	4	 	 	Calumet County Bank, Brillion, WI
	 	Brillion Petty Cash
	 	 	100307	 	 	Checking

-4-

 

TRANSPORTATION TECHNOLOGIES AND SUBSIDIARIES

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Unit
	 	 	 	 	 	Bank Name & Address
	 	Account Name
	 	Account Number
	 	Account Type

	Fabco

	 	 	1	 	 	Bank One, NA, Chicago, IL
	 	Fabco Cash Collateral
	 	 	4308638	 	 	Lockbox
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	2	 	 	LaSalle Bank (LNB), Chicago, IL
	 	Fabco Disbursements
	 	 	5590047949	 	 	Checking
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	3	 	 	Wells Fargo, San Francisco, CA
	 	Fabco Payroll
	 	 	415-9298934	 	 	Checking

-5-

 

TRANSPORTATION TECHNOLOGIES AND SUBSIDIARIES

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Unit	 	 	 	 	 	Bank Name & Address	 	Account Name	 	Account Number	 	Account Type
	Gunite

	 	 	I	 	 	Bank One, NA, Chicago, IL
	 	Cash Collateral Account
	 	 	4308530	 	 	Lockbox
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	2	 	 	Bank One, NA Canada, Toronto, CN
	 	Gunite Corporation Canadian Payroll
	 	 	1559612-1-01	 	 	Checking
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	3	 	 	LaSalle Bank (LNB), Chicago, IL
	 	Elkhart Disbursement
	 	 	5590047931	 	 	Checking
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	4	 	 	LaSalle Bank (LNB), Chicago, IL
	 	Main CM Disbursement
	 	 	5590047998	 	 	Checking
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	5	 	 	Amcore Bank, NA, Rockford, IL
	 	Commercial Account
	 	 	0000099499	 	 	Depository
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	6	 	 	Amcore Bank, NA, Rockford, IL
	 	Plant Payroll
	 	 	0000099587	 	 	Checking
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	7	 	 	Amcore Bank, NA, Rockford, IL
	 	Confidential Payroll
	 	 	0000099532	 	 	Checking
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	8	 	 	Key Bank, Elkhart, IN
	 	Gunite Corporation — Payroll
	 	 	1206500893	 	 	Checking

-6-

 

TRANSPORTATION TECHNOLOGIES AND SUBSIDIARIES

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Unit
	 	 	 	 	 	Bank Name & Address
	 	Account Name
	 	Account Number
	 	Account Type

	Imperial

	 	 	1	 	 	LaSalle Bank (LNB), Chicago, IL
	 	Imperial Group Payroll
	 	 	5590047923	 	 	Checking
	

	 	 	2	 	 	LaSalle Bank (LNB), Chicago, IL
	 	Imperial Group Disbursements
	 	 	5590047980	 	 	Checking
	

	 	 	3	 	 	AmSouth
	 	Imperial Fabricating Co. Inc.
	 	 	1002635524	 	 	Lockbox
	

	 	 		 	 		 	Group Concentration Acct
	 	 		 	 	
	

	 	 	4	 	 	Wells Fargo Bank, N.A.
	 	Imperial Fabricating Co. of TN	 	 	925-0132761	 	 	TX Local Checking In Decatur
	

	 	 	5	 	 	First State Bank
	 	Fleet Design Inc.
	 	 	1008617	 	 	Tx Local Checking in Gainesville
	

	 	 		 	 		 	Tennessee Corporation
	 	 		 	 	
	

	 	 	6	 	 	Security State Bank
	 	Imperial Group LP	 	 	4000823371	 	 	WA Local Checking in Chehalis
	

	 	 	 	 	 	 	 	DBA Imperial Fabricating Co. Inc.
	 	 	 	 	 	 
	

	 	 	7	 	 	Volunteer State Bank
	 	Imperial Fabricating	 	 	131-180-8	 	 	TN Checking Emp Fund
	

	 	 	 	 	 	 	 	Employees Entertainment Acct	 	 	 	 	 	 

-7-

 

TRANSPORTATION TECHNOLOGIES AND SUBSIDIARIES

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Unit
	 	 	 	 	 	Bank Name & Address
	 	Account Name
	 	Account Number
	 	Account Type

	TTI

	 	 	1	 	 	LaSalle Bank (LNB), Chicago, IL
	 	TTI Disbursements
	 	 	5590047964	 	 	Checking
	

	 	 	2	 	 	LaSalle Bank (LNB), Chicago, IL
	 	Transportation Technologies Main Acct
	 	 	5800260472	 	 	Corp DDA (ZBA)
	

	 	 	 	 	 	LaSalle Bank (LNB), Chicago, IL
	 	Transportation Technologies Main Acct
	 	 	6000260472	 	 	Overnight Sweep Acct
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	TCI

	 	 	I	 	 	Bank One, NA, Chicago, IL
	 	Truck Components Pooled
	 	 	4072405	 	 	Checking
	

	 	 	2	 	 	Bank One, NA, Chicago, IL
	 	Truck Comp Funding
	 	 	5330036968	 	 	ZBA Transfer

-8-

 

Schedule 6.15

CERTAIN POST-CLOSING ITEMS

	1.	 	The Company shall use commercially reasonable efforts to provide all
necessary information to enable the title company to issue, and the
Company shall use commercially reasonable efforts to cause the title
company to issue, a zoning endorsement to each respective title policy
within (90) days after the Closing Date; provided, however, if such zoning
endorsement is not available in the applicable jurisdiction or would
require a legal opinion (regarding such zoning) to be issued in connection
with such endorsement or is otherwise prohibitively expensive, in the
reasonable judgment of the Company, the Company may substitute for such
endorsement a zoning report from PZR (or other reputable zoning service)
or a letter from the municipality in which the Mortgaged Property is
located providing for the relevant zoning information.
	 
	2.	 	The Company shall enter into one or more Interest Rate Agreements in form
and substance reasonably satisfactory to the Administrative Agent in order
to satisfy the requirements set forth in subsection 6.10 of the Credit
Agreement within ninety (90) days after the Closing Date.
	 
	3.	 	The Company shall cause Wachovia Bank, National Association, to deliver
to the Administrative Agent a release of security interest with respect to
the following US Trademarks which are owned by Brillion Iron Works, Inc.:
(i) LANDCOMMANDER, registration no. 1,824,090 and (ii) OPTIMIZER,
registration no. 2,413,168, within ten (10) days after the Closing Date.
	 
	4.	 	The Company shall cause to be delivered to the Administrative Agent a
UCC-3 termination statement with respect to Gunite EMI Corporation for
filing with the Erie County, Pennsylvania recorder, within thirty (30)
days after the Closing Date.
	 
	5.	 	The Company shall cause to be delivered to the Administrative Agent
certificates of limited partnership with respect to the interests of
Imperial Group Holding Corp.-1 and Imperial Group Holding Corp.-2 in
Imperial Group, L.P., within ten (10) days after the Closing Date.

 

 

Schedule 7.1

INDEBTEDNESS

$3.1 million Bostrom Industrial Revenue Bonds

 

 

Schedule 7.2

PERMITTED LIENS

Transportation Technologies Industries, Inc.1

Delaware — Secretary of State

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	12/13/01

	 	 	20137624	 	 	Fleet Business Credit Corporation
	 	Equipment
	 
	 	 	 	 	 	 	 	 
	3/28/03

	 	 	30809700	 	 	Phoenixcor, Inc.
	 	Equipment Leases
	 
	 	 	 	 	 	 	 	 
	4/21/03

	 	 	31020661	 	 	General Electric Capital Corp.
	 	Equipment lease — sale leaseback transaction
	 
	 	 	 	 	 	 	 	 
	6/23/03

	 	 	31583189	 	 	Phoenixcor, Inc.
	 	To continue the effectiveness of filling
#3915815 filed on 9/28/98 with IL SOS;
	 
	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	Equipment lease
	 
	 	 	 	 	 	 	 	 
	6/27/03

	 	 	31640948	 	 	General Electric Capital Corp.
	 	To continue the effectiveness of filling
#3966768 filed on 1/4/99 with IL SOS; this
financing statement is being filed solely
as a precaution, if contrary to the
intention to the parties derived in above
as Debtor/Lessee and Secured Party/ Lessor;
equipment collateral
	 
	 	 	 	 	 	 	 	 
	8/21/03

	 	 	32181207	 	 	CIT Communications Finance

Corporation
	 	Equipment lease
	 
	 	 	 	 	 	 	 	 
	9/16/03

	 	 	32396367	 	 	Phoenixcor, Inc.
	 	To continue the effectiveness of filling
#3995979 filed on 2/26/99 with IL SOS;

	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	Equipment lease
	 
	 	 	 	 	 	 	 	 
	11/14/03

	 	 	33003707	 	 	General Electric Capital Corp.
	 	To continue the effectiveness of filling
#9832360934 filed on 11/18/98 with CA SOS;
this financing statement is being filed
solely as a precaution, if contrary to the
intention to the parties derived in above
as Debtor/Lessee and Secured Party/ Lessor;
Equipment collateral
	 
	 	 	 	 	 	 	 	 
	1/2/04

	 	 	40006249	 	 	General Electric Capital Corp.
	 	To continue the effectiveness of filling
#39667868 filed on 1/14/99 with IL SOS;
this financing statement is being filed
solely as a precaution, if contrary to the
intention to the parties derived in above
as Debtor/Lessee and Secured Party/ Lessor;
Equipment collateral

	1	 	Transportation Technologies Industries, Inc. changed its name from Johnstown
American Industriees, Inc. Thus, some of the following liens are filed against
Johnstown.

 

 

Illinois — Secretary of State:

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	9/3/96

	 	 	3583564	 	 	General Electric Capital Corporation
	 	Equipment — (1)
	

	 	 	 	 	 	 	 	BCP16 Wheel Mesh Belt Shot Blast

Cleaning Machine
	 
	 	 	 	 	 	 	 	 
	9/4/96

	 	 	3584208	 	 	General Electric Capital Corporation
	 	Equipment — (1) Overhead Crane with
Power Lift and (1) Conveyer
	 
	 	 	 	 	 	 	 	 
	9/4/96

	 	 	3584209	 	 	General Electric Capital Corporation
	 	Equipment — (1) 2 stage parts
	 
	 	 	 	 	 	 	 	 
	2/3/97

	 	 	3647111	 	 	General Electric Capital Corporation
	 	Equipment — (1) stack adjuster machine
	 
	 	 	 	 	 	 	 	 
	3/5/97

	 	 	3658333	 	 	General Electric Capital Corporation
	 	Equipment — Tomco 14 Ton
CO2 Tank
	 
	 	 	 	 	 	 	 	 
	3/5/97

	 	 	3658334	 	 	General Electric Capital Corporation
	 	Equipment — (4)
	

	 	 	 	 	 	 	 	Baker Sit Down
	

	 	 	 	 	 	 	 	Rider Diesel
	

	 	 	 	 	 	 	 	Fork Lift Trucks
	 
	 	 	 	 	 	 	 	 
	3/5/97

	 	 	3668474	 	 	General Electric Capital Corporation
	 	Fork Lift Truck; Drilling Units
	 
	 	 	 	 	 	 	 	 
	3/25/97

	 	 	3668473	 	 	General Electric Capital Corporation
	 	Equipment — (1)
	

	 	 	 	 	 	 	 	Grove Articulating Aerial Work
	

	 	 	 	 	 	 	 	Platform Manlift
	 
	 	 	 	 	 	 	 	 
	5/22/97

	 	 	3693013	 	 	Bankers Leasing Association, Inc.
	 	Equipment — pursuant to Master Lease
Agreement dated April 17, 1997
	 
	 	 	 	 	 	 	 	 
	8/11/97

	 	 	3726521	 	 	Phoenixcor, Inc.
	 	Equipment — Master Lease Agreement
dated June 18, 1997; (6) Baker Model
Fork Lift Trucks
	 
	 	 	 	 	 	 	 	 
	2/17/98

	 	 	3802464	 	 	Bankers Leasing Association, Inc.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	3/11/98

	 	 	3815075	 	 	Phoenixcor, Inc.
	 	Amendment: to file number 3726521 amending equipment location to 801
County Rd. 15, Elkhart, IN
	 
	 	 	 	 	 	 	 	 
	8/20/97

	 	 	3730188	 	 	Panasonic Communications
	 	(1) Panasonic copier; Assigned to: Sanwa Leasing Corporation
	 
	 	 	 	 	 	 	 	 
	9/15/97

	 	 	3739392	 	 	Phoenixcor, Inc.
	 	(1) Sand Cooler Dust Collector
	 
	 	 	 	 	 	 	 	 
	10/1/97

	 	 	3745993	 	 	Panasonic Communications
	 	(1) Panasonic Fax; (4) Panasonic
Faxes; Assigned to: Sanwa Leasing
Corporation
	 
	 	 	 	 	 	 	 	 
	2/3/98

	 	 	3796934	 	 	Bankers Leasing Association, Inc.
	 	Equipment
	 
	 	 	 	 	 	 	 	 
	2/17/98

	 	 	3802436	 	 	Bankers Leasing Association, Inc.
	 	Phone System and Network Management Equipment

-2-

 

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	2/17/98

	 	 	3802472	 	 	Bankers Leasing Association, Inc.
	 	Cad System and Personal Computers
	 
	 	 	 	 	 	 	 	 
	6/25/98

	 	 	3871209	 	 	Bankers Leasing Association, Inc.
	 	Computer Equipment
	 
	 	 	 	 	 	 	 	 
	8/5/98

	 	 	3889404	 	 	Bankers Leasing Association, Inc.
	 	Computer Equipment
	 
	 	 	 	 	 	 	 	 
	9/28/98

	 	 	3915815	 	 	Phoenixcor, Inc.
	 	(2) Hyster Forklifts
	 
	 	 	 	 	 	 	 	 
	9/28/98

	 	 	3915816	 	 	Phoenixcor, Inc.
	 	Equipment
	 
	 	 	 	 	 	 	 	 
	11/9/98

	 	 	3938260	 	 	General Electric Capital Corp.
	 	(1) Hitachi Seiki Horizontal Machining Center
	 
	 	 	 	 	 	 	 	 
	1/25/99

	 	 	3977751	 	 	Pitney Bowes Credit
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	5/14/99

	 	 	4036102	 	 	Bankers/Softech a Division of
EAB Leasing Corp.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	7/7/99

	 	 	       Amendment

4061784
	 	 	 	 	Change Debtor name to Transportion Technologies Industries,
Inc.
	 
	 	 	 	 	 	 	 	 
	9/29/99

	 	 	4101216	 	 	Panasonic Communications
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	10/1/99

	 	 	4102523	 	 	Panasonic Communications
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	10/7/99

	 	 	4105756	 	 	Panasonic Communications
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	1/4/00

	 	 	4138786	 	 	Bankers/Softech/Mid-States
	 	Certain Equipment Leased
	

	 	 	 	 	 	A Division of EAB Leasing Corp.	 	 
	 
	 	 	 	 	 	 	 	 
	1/4/00

	 	 	4138787	 	 	Bankers/Softech/Mid-States
A Division of EAB Leasing Corp.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	1/4/00

	 	 	4138788	 	 	Bankers/Softech/Mid-States
	 	Certain Equipment Leased
	

	 	 	 	 	 	A Division of EAB Leasing Corp.	 	 

Pennsylvania Secretary of State

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	12/31/97

	 	 	28370579	 	 	Sharp Electronic Credit Co.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	2/11/98

	 	 	28550578	 	 	Bankers Leasing Association, Inc.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	3/26/98

	 	 	28720022	 	 	Sharp Electronic Credit Co.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	10/20/98

	 	 	29501019	 	 	Sharp Electronic Credit Co.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	11/30/98

	 	 	29630919	 	 	Dana Commercial Credit Corporation
	 	Certain Equipment Leased

-3-

 

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	11/12/99

	 	 	Release

30931045 to
30350361
	 	 	 	 	Release of Certain Equipment
	 
	 	 	 	 	 	 	 	 
	9/20/99

	 	 	30740440	 	 	Matrix Funding Corporation
	 	Certain Equipment Leased

Cambria County, PA

	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	3/26/97

	 	1997-1092
	 	General Electric Capital Corporation
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 
	3/26/97

	 	1997-1094
	 	General Electric Capital Corporation
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 
	1/14/98

	 	1998-164
	 	Sharp Electronic Credit Co.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 
	2/17/98

	 	1998-616
	 	Bankers Leasing Association Inc.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 
	4/3/98

	 	1998-1231
	 	Sharp Electronic Credit Co.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 
	10/21/98

	 	1998-3947
	 	Sharp Electronic Credit Co.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 
	10/27/98

	 	1998-4392
	 	Dana Commercial Credit Corporation
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 
	6/7/99

	 	1999-1898
	 	Fleet Capital Corporation
	 	Blanket Lien
	 
	 	 	 	 	 	 
	9/20/99

	 	1999-3299
	 	Matrix Funding Corporation Leased
	 	Certain Computer Equipment Leased
	 
	 	 	 	 	 	 
	7/27/99

	 	1999-2599
	 	Charter Financial, Inc.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 
	11/23/99

	 	Amendment
1999-2599 to
1999-2599
	 	 	 	Debtor name change to
Transportation Technologies
Industries, Inc.

Bostrom Seating, Inc.

Alabama — Secretary of State:

	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	8/11/95

	 	95-33101
	 	Deere Credit, Inc.
	 	JL Electric Scissor Lift
	 
	 	 	 	 	 	 
	9/25/95

	 	95-39118
	 	Toyota Motor Credit
	 	One new Toyota forklift

with 3000 lb capacity,

LP fuel tank

-4-

 

	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	10/17/95

	 	95-42456
	 	Toyota Motor Credit
	 	Two new Toyota

forklifts with 3000 lb

capacity, LP fuel tank
	 
	 	 	 	 	 	 
	11/13/95

	 	95-46115
	 	IBM Credit Corporation
	 	IBM equipment
	 
	 	 	 	 	 	 
	11/13/95

	 	95-46124
	 	IBM Credit Corporation
	 	IBM equipment
	 
	 	 	 	 	 	 
	11/21/95

	 	95-47822
	 	Toyota Motor Credit
	 	One new Toyota forklift

with 3000 lb capacity,

LP fuel tank
	 
	 	 	 	 	 	 
	12/8/95

	 	95-49898
	 	Toyota Motor Credit
	 	One new Toyota forklift

with 3000 lb capacity,

LP fuel tank
	 
	 	 	 	 	 	 
	4/11/96

	 	96-15536
	 	Toyota Motor Credit
	 	Two new Toyota

forklifts with 3000 lb

capacity, LP fuel tank
	 
	 	 	 	 	 	 
	1/15/97

	 	97-02146
	 	IBM Credit Corporation
	 	IBM equipment
	 
	 	 	 	 	 	 
	2/18/97

	 	97-06821
	 	Nissan Motor Acceptance Corporation
	 	Two Nissan PE50Y
	 
	 	 	 	 	 	 
	7/6/98

	 	98-28421
	 	Farboil Company
	 	All various Farboil

power coatings or other

products
	 
	 	 	 	 	 	 
	9/3/98

	 	98-38094
	 	AT&T Credit Corporation
	 	Equipment pursuant to
Lease No. S516315
	 
	 	 	 	 	 	 
	3/19/99

	 	99-12058
	 	IBM Credit Corporation
	 	Computer equipment and
goods and information
processing

Delaware — Secretary of State

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	12/31/02

	 	 	30146020	 	 	Hirsch International Corp

200 Wireless Boulevard

Hauppauge, NY 11788
	 	Equipment — Embroidery Machine

-5-

 

Illinois — Secretary of State

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	2/3/98

	 	 	3796934	 	 	Bankers Leasing Association, Inc.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	2/17/98

	 	 	3802472	 	 	Bankers Leasing Association, Inc.
	 	Certain Equipment Leased

North Carolina — Secretary of State

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	6/4/96

	 	 	1346358	 	 	Southeast Industrial Equipment
	 	Certain Equipment
	 
	 	 	 	 	 	 	 	 
	4/3/97

	 	 	001446212	 	 	M&S LLC d/b/a Toyota Materials Handling
	 	Certain Equipment

Mecklenburg County, North Carolina

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	6/4/96

	 	 	007722	 	 	Toyota Motor Credit Corporation (by
assignment
from Southeast Industrial Equipment)
	 	Certain Equipment
	 
	 	 	 	 	 	 	 	 
	4/1/97

	 	 	005405	 	 	Toyota Motor Credit
Corporation (by assignment from M&S LLC d/b/a/ Toyota Materials Handling)
	 	Certain Equipment

Oregon — Secretary of State

	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	5/21/96

	 	T01140
	 	TMCC
	 	Certain Equipment

-6-

 

Brillion Iron Works, Inc.

Delaware — Secretary of State

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	1/28/02

	 	 	20461784	 	 	Country Horizons Cooperative
	 	Three storage tanks
	

	 	 	 	 	 	305 North 6th Street
	 	located at Plants 2
	

	 	 	 	 	 	Reedsville, WI 54230
	 	& 4 of Brillion
Iron Works, Inc. in
Brillion, WI. The
liquid storage
tanks are or may
become fixtures on
the real estate
described in the
attached Exhibit A
	 
	 	 	 	 	 	 	 	 
	2/22/02

	 	 	20658561	 	 	Studebaker-Worthington Leasing Corp.
	 	Computer Equipment
	

	 	 	 	 	 	100 Jericho Quadrangle
	 	and Related
	

	 	 	 	 	 	Jericho, NY 11753
	 	Property (True

Lease Agreement)
	 
	 	 	 	 	 	 	 	 
	9/13/02

	 	 	22345480	 	 	Agricredit Acceptance LLC
	 	Equipment — Wood
	

	 	 	 	 	 	P.O. Box 7902
	 	loader, cutter and
	

	 	 	 	 	 	Des Moines, IA 50322
	 	tractor (lease
filing — this
filing is for
informational
purposes only)
	 
	 	 	 	 	 	 	 	 
	9/18/02

	 	 	22401069	 	 	Agricredit Acceptance LLC
	 	Equipment — Wood
	

	 	 	 	 	 	P.O. Box 7902
	 	loader, cutter and
	

	 	 	 	 	 	Urbandale, IA 50322
	 	tractor (lease
filing — this
filing is for
informational
purposes only)
	 
	 	 	 	 	 	 	 	 
	4/21/03

	 	 	31139487	 	 	Agricredit Acceptance LLC
	 	Change in Debtor -
	

	 	 	 	 	 	P.O. Box 7902
	 	delete debtor name
	

	 	 	 	 	 	Urbandale, IA 50322
	 	CT Corporation

System

Wisconsin — Secretary of State

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	10/15/86

(continuation

statements filed

	 	 	874597	 	 	Signode Corporation
	 	Debtor’s inventory of Signode
steel packaging strapping
	6/17/91 and

	 	 	1211855	 	 	 	 	 
	6/25/96)

	 	 	

1596403	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	10/25/96

	 	 	1623316	 	 	Miller and Company
	 	2,722.32 tons of F-1 Sorelmetal
	 
	 	 	 	 	 	 	 	 
	3/12/97

	 	 	1655002	 	 	General Electric Capital Corp. (lessee)
	 	2 down rider diesel fork lift
	 
	 	 	 	 	 	 	 	 
	8/23/99

	 	 	01875052	 	 	MBM Leasing
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	9/22/99

	 	 	01883620	 	 	MBM Leasing
	 	Certain Equipment Leases

-7-

 

Gunite Corporation

Delaware — Secretary of State

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	12/13/01

	 	 	20128169	 	 	General Electric Capital Corp.
	 	To continue the
effectiveness of
filling #3645721
filed on 01/30/97
with IL SOS
	 
	 	 	 	 	 	 	 	 
	7/31/02

	 	 	22011397	 	 	Phoenixcor, Inc.
	 	To continue the
effectiveness of
filling #3726520
filed on 8/11/97
with IL SOS;

Filing files solely
for notification
purposes to
indicate that the
property on the
annexed Exhibit A
is subject to
Secured Party’s
ownership or
security interest
	 
	 	 	 	 	 	 	 	 
	8/15/02

	 	 	22085672	 	 	Phoenixcor, Inc.
	 	To continue the
effectiveness of
filling #3739388
filed on 9/15/97
with IL SOS and
filing #2146611
filed on 9/15/97
with IN SOS;

Filing files solely
for notification
purposes to
indicate that the
property on the
annexed Exhibit A
is subject to
Secured Party’s
ownership or
security interest
	 
	10/15/02

	 	 	22668493	 	 	Phoenixcor, Inc.
	 	To continue the
effectiveness of
filling #3763428
filed on 11/14/97
with IL SOS;

Filing files solely
for notification
purposes to
indicate that the
property on the
annexed Exhibit A
is subject to
Secured Party’s
ownership or
security interest
	 
	 	 	 	 	 	 	 	 
	12/30/02

	 	 	23253477	 	 	Applied Industrial Technologies, Inc.
	 	Purchase Money
Security Interest
in and to all
Consignee’s now
held or thereafter
acquired equipment
consigned or
shipped to
Consignee by or on
behalf of Consign
or pursuant to that
Certain Consignment
agreement dated
Sept. 17, 2002
	 
	 	 	 	 	 	 	 	 
	1/23/03

	 	 	30202625	 	 	American Technologies Credit, Inc.
	 	All of the goods,
fixtures, furniture
and equipment and
other personal
property now or
hereafter leased by
lessor to lessee,
whenever located,
under lease
agreement order no.
LA-1518
	 
	 	 	 	 	 	 	 	 
	4/25/03

	 	 	31078214	 	 	American Technologies Credit, Inc.
	 	Collateral
Amendment — to
amend property more
fully described on
the addendum and/or
Exhibit A attached
hereto and made a
part hereof

-8-

 

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	5/19/03

	 	 	31277105	 	 	LaSalle Bank National Association
	 	All of the
inventory delivered
by Cosignor from
time to time to
Cosignee, on
consignment in
Consignee’s
position and
proceeds thereof
	 
	 	 	 	 	 	 	 	 
	6/18/03

	 	 	31538928	 	 	CIT Communications Finance Corporation
	 	Equipment lease
	 
	 	 	 	 	 	 	 	 
	10/14/03

	 	 	32757394	 	 	IOS Capital
	 	Equipment lease
	 
	 	 	 	 	 	 	 	 
	11/24/03

	 	 	33091835	 	 	CitiCapital Technology Finance, Inc.
	 	Equipment

Illinois — Secretary of State:

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	10/3/95

	 	 	3453090	 	 	Signode Packaging Systems
	 	Debtor’s inventory of
Signode Steel Packaging
Strapping
	 
	 	 	 	 	 	 	 	 
	10/29/95

	 	 	3474528	 	 	Digital Financial Services, a
division of GE Capital Corp.
	 	Equipment and related
items pursuant to
master lease agmt No.
9548211
	 
	 	 	 	 	 	 	 	 
	9/3/96

	 	 	3583565	 	 	Johnstown America Industries, Inc.
- Lessee
	 	One (1) BCP 16 Wheel
Mesh Belt Shot blast
machine; Assigned to:
	

	 	 	 	 	 	 	 	General Electric Capital Corporation
	 
	 	 	 	 	 	 	 	 
	9/4/96

	 	 	3584206	 	 	Johnstown America Industries, Inc.
- Lessee
	 	One (1) SCRT 60 X 85
conveyer; Assigned to: General Electric Capital Corporation
	 
	 	 	 	 	 	 	 	 
	9/4/96

	 	 	3584207	 	 	Johnstown America Industries, Inc.
- Lessee
	 	Equipment and Licenses
Assigned to: Sterling
Bank & Trust
	 
	 	 	 	 	 	 	 	 
	6/9/97

	 	 	3699976	 	 	Johnstown America Industries, Inc.
- Lessee
	 	Equipment and Licenses
Assigned to: Sterling
Bank & Trust
	 
	 	 	 	 	 	 	 	 
	1/3/97

	 	 	3634811	 	 	American Technologies Credit, Inc.
	 	Engineering Cad-Cam
Equipment and SDRC
Software; Assigned to:
	

	 	 	 	 	 	 	 	Sterling Bank & Trust
	 
	 	 	 	 	 	 	 	 
	1/30/97

	 	 	3645721	 	 	Johnstown America Industries, Inc.
- Lessee
	 	One (1) Slack Adjuster
machine, Assigned to: General Electric Capital Corporation
	 
	 	 	 	 	 	 	 	 
	2/6/97

	 	 	3648906	 	 	American Technologies Credit, Inc.
	 	Computer Hardware and
Software; Assigned to:  The CIT Group/Equipment
Financing, Inc.
	 
	 	 	 	 	 	 	 	 
	5/23/97

	 	 	3693197	 	 	The CIT Group/Equipment Financing
	 	Amendment: to file
number 348906 (no
description of
amendment)

-9-

 

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	8/11/97

	 	 	3726520	 	 	Phoenixcor, Inc.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	9/15/97

	 	 	3739388	 	 	Phoenixcor, Inc.
	 	Equipment pursuant to
Master Lease Agreement
No. 6516 dated 6/18/97
	 
	 	 	 	 	 	 	 	 
	11/14/97

	 	 	3763428	 	 	Phoenixcor, Inc.
	 	Equipment pursuant to
Master Lease Agreement
No. 6516 dated 6/18/97
	 
	 	 	 	 	 	 	 	 
	2/23/98

	 	 	3805677	 	 	AT&T Credit Corporation
	 	Equipment pursuant to
Lease No. M504815;
Definity G3VS upgrade
	 
	 	 	 	 	 	 	 	 
	6/30/98

	 	 	3873325	 	 	Sterling Bank & Trust
	 	Assignment: of file
number 3634811 to The
Citi Group/Equipment
Financing, Inc.
	 
	 	 	 	 	 	 	 	 
	7/23/98

	 	 	3883755	 	 	Stellram — A Business Unit of
Teledyne Metalworking
	 	Steel Toolholders, Boring Bars & Carbide Inserts
	 
	 	 	 	 	 	 	 	 
	8/27/98

	 	 	3900414	 	 	Johnstown American Industries, Inc.
	 	One (1) Wang Server;
Assigned to: General
Electric Capital
Corporation
	 
	 	 	 	 	 	 	 	 
	11/12/99

	 	 	4121434	 	 	American Technologies Credit, Inc.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 	 	 
	9/29/95

	 	 	F295367
       (Winnebago
County)
	 	 	Signode Packaging Systems
	 	Debtor’s Inventory of
Signode Steel Packaging
Strapping

Gunite Corporation

Indiana — Secretary of State:

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	9/4/96

	 	 	2075559	 	 	Johnstown American Industries,
Inc. — Lessee
	 	One (1) Overhead Crane with Power
Lift; Assigned to: General Electric
Capital Corp.
	 
	 	 	 	 	 	 	 	 
	5/5/97

	 	 	2122340	 	 	Ervin Leasing Company
	 	(1) Savin Color Imaging System
	

	 	 	 	 	 	 	 	(1) Interface
	

	 	 	 	 	 	 	 	(1) Line Filter
	

	 	 	 	 	 	 	 	(1) 10-Bin Sorter
	 
	 	 	 	 	 	 	 	 
	5/23/97

	 	 	2126632	 	 	American Technologies Credit
	 	Computer Hardware and Software;
Assigned to: The CIT
Group/Equipment Financing
	 
	 	 	 	 	 	 	 	 
	6/12/97

	 	 	2130771	 	 	Freeman-Spicer Leasing and Ins.
	 	GR1700 Riso Digital Duplicator and
Stand
	 
	 	 	 	 	 	 	 	 
	9/12/97

	 	 	2146325	 	 	Freeman-Spicer Leasing and Inc.
	 	3M 630 Reader Printer

-10-

 

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	9/15/97

	 	 	2146611	 	 	Phoenixcor, Inc.
	 	(6) Baker Model H25D Fork Lift Trucks
	 
	 	 	 	 	 	 	 	 
	5/12/98

	 	 	2190031	 	 	Freeman-Spicer Leasing and Inc.
	 	Lanier 5040 Copier, Document Feeder,

System Stand
	 
	 	 	 	 	 	 	 	 
	6/15/98

	 	 	2197386	 	 	Freeman-Spicer Leasing and Inc.
	 	Lanier 1240 Plain Paper Fax Machine

Gunite EMI Corporation

Erie County, Pennsylvania

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	12/21/98

	 	 	29711309	 	 	Erie Industrial Trucks, Inc.
	 	Certain Equipment

Fabco Automotive Corporation

California — Secretary of State:

	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	12/9/96

	 	96-34560560
	 	Trinity Capital Corporation
	 	Equipment listed on
Lease No.
0011199-001
	 
	 	 	 	 	 	 
	11/12/98

	 	98-31760720
	 	General Electric Capital Corporation
	 	Sale Leaseback - Hitachi Seiki
Horizontal Machining Center
	 
	 	 	 	 	 	 

Delaware — Secretary of State

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	4/21/03

	 	 	31020679	 	 	General Electric Capital Corp.
	 	Equipment — Hitachi
Seiki Horizontal
machining Center
(this filing is to
record leaseback
transaction)
	 
	 	 	 	 	 	 	 	 
	11/10/03

	 	 	32943994	 	 	General Electric Capital Corp.
	 	Equipment — Hitachi
Seiki Horizontal
machining Center
(this filing is to
record leaseback
transaction)

-11-

 

Imperial Group, L.P.

Delaware — Secretary of State

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	10/18/02

	 	 	22724965	 	 	Toyota Motor Credit Corporation
	 	Equipment lease
	 
	 	 	 	 	 	 	 	 
	1/15/03

	 	 	30281439	 	 	Toyota Motor Credit Corporation
	 	Equipment lease
	 
	 	 	 	 	 	 	 	 
	2/5/03

	 	 	30572787	 	 	Toyota Motor Credit Corporation
	 	Equipment lease
	 
	 	 	 	 	 	 	 	 
	7/16/03

	 	 	31795965	 	 	Barloworld Fleet Leasing LLC
	 	Equipment lease
	 
	 	 	 	 	 	 	 	 
	7/16/03

	 	 	31795973	 	 	Barloworld Fleet Leasing LLC
	 	Equipment lease
	 
	 	 	 	 	 	 	 	 
	7/29/03

	 	 	31951683	 	 	Barloworld Fleet Leasing LLC
	 	Equipment lease
	 
	 	 	 	 	 	 	 	 
	8/18/03

	 	 	32317215	 	 	Integris Metals, Inc.
	 	Cosigned Products: certain
items as
detailed in the
attached Attachment
“A” (equipment)

Illinois Secretary of State

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	9/7/99

	 	 	4090492	 	 	Citicorp Del Lease, Inc.
	 	Certain Equipment Leased

Tennessee Secretary of State

	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	9/13/99

	 	992-044767
	 	Citicorp Del Lease, Inc.
	 	Certain Equipment Leased
	 
	 	 	 	 	 	 
	10/20/99

	 	992-053421
	 	Citicorp Del Lease, Inc.
	 	Certain Equipment Leased

Gunite EMI Corporation, Inc.

Pennsylvania — Pronotery of Erie County

	 	 	 	 	 	 	 	 	 
	Date Filed
	 	File No.
	 	Secured Party
	 	Collateral

	12/21/98

	 	 	29711309	 	 	Erie Industrial Trucks, Inc.
	 	Truck Lease

-12-

 

Schedule 7.3

PERMITTED INVESTMENTS

$2,000,000 investment of Transportation Technologies Industries, Inc., as
limited partner in Triton Containers LLC

 

 

Schedule 7.10

CERTAIN AFFILIATE TRANSACTIONS

Management/director fees payable to Trimaran and/or Albion as permitted
pursuant to Subsection 7.5 of the Credit Agreement.

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