Document:

Form of Registration Rights Agreement for 2007 Note

 EXHIBIT 4.8 
  
 REGISTRATION RIGHTS AGREEMENT 
  
 This Registration Rights Agreement (this “Agreement”) is made and entered into as of June 30, 2004, by and between PainCare Holdings, Inc., a
Florida corporation (the “Company”), and Laurus Master Fund, Ltd. (the “Purchaser”). 
  
 This Agreement is made pursuant to the Securities Purchase Agreement, dated as of the date hereof, by and between the Purchaser and the Company (the
“Securities Purchase Agreement”), and pursuant to the Note and the Warrants referred to therein. 
  
 The Company and the Purchaser hereby agree as follows: 
  
 1. Definitions. Capitalized terms used and not otherwise defined herein that are defined in the Securities Purchase Agreement shall have the
meanings given such terms in the Securities Purchase Agreement. As used in this Agreement, the following terms shall have the following meanings: 
  
 “Commission” means the Securities and Exchange Commission. 
  
 “Common Stock” means shares of the Company’s common stock, par value $0.01 per share.

  
 “Effectiveness Date” means
the 160th day following the date hereof. 
  
 “Effectiveness Period” shall have the meaning set forth in Section 2(a). 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor statute. 
  
 “Filing Date” means, with respect to the
Registration Statement required to be filed hereunder, a date no later than sixty (60) days following the date upon which the principal amount of the Term Loan to the Company in original principal amount of $1,500,000 has been funded to the Company.

  
 “Holder” or
“Holders” means the Purchaser or any of its affiliates or transferees to the extent any of them hold Registrable Securities. 
  
 “Indemnified Party” shall have the meaning set forth in Section 5(c). 
  

 “Indemnifying Party” shall have the meaning set forth in Section 5(c).

  
 “Note” has the meaning set
forth in the Securities Purchase Agreement. 
  
 “Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding, such as a deposition), whether commenced or threatened. 
  
 “Prospectus” means the prospectus included
in the Registration Statement (including, without limitation, a prospectus that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the
Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by the Registration Statement, and all other amendments and supplements to the
Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus. 
  
 “Registrable Securities” means the shares of Common Stock issued upon the conversion of the Note and issuable upon
exercise of the Warrants. 
  
 “Registration Statement” means each registration statement required to be filed hereunder, including the Prospectus, amendments and supplements to such registration statement or Prospectus, including pre- and post-effective
amendments, all exhibits thereto, and all material incorporated by reference or deemed to be incorporated by reference in such registration statement. 
  
 “Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from
time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
  
 “Rule 415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from
time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
  
 “Rule 424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from
time to time, or any similar 

  

 
rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
  
 “Securities Act” means the Securities Act
of 1933, as amended, and any successor statute. 
  
 “Securities Purchase Agreement” means the agreement dated as of the date hereof between the parties hereto calling for the issuance by the Company of $1,500,000 convertible Note plus Warrants. 
  
 “Trading Market” means any of the NASD OTC
Bulletin Board, NASDAQ SmallCap Market, the Nasdaq National Market, the American Stock Exchange or the New York Stock Exchange. 
  
 “Warrants” means the Common Stock purchase warrants issued pursuant to the Securities Purchase Agreement. 
  
 2. Registration. 
  
 (a) On or prior to the Filing Date the Company shall prepare
and file with the Commission a Registration Statement covering the Registrable Securities for an offering to be made on a continuous basis pursuant to Rule 415. The Registration Statement shall be on Form S-B2 or Form S-3 (except if the Company is
not then eligible to register for resale the Registrable Securities on Form S-B2 or Form S-3, in which case such registration shall be on another appropriate form in accordance herewith). The Company shall cause the Registration Statement to become
effective and remain effective as provided herein. The Company shall use its reasonable commercial efforts to cause the Registration Statement to be declared effective under the Securities Act as promptly as possible after the filing thereof, but in
any event no later than the Effectiveness Date. The Company shall use its reasonable commercial efforts to keep the Registration Statement continuously effective under the Securities Act until the date which is the earlier date of when (i) all
Registrable Securities have been sold or (ii) all Registrable Securities may be sold immediately without registration under the Securities Act and without volume restrictions pursuant to Rule 144(k), as determined by the counsel to the Company
pursuant to a written opinion letter to such effect, addressed and acceptable to the Company’s transfer agent and the affected Holders (the “Effectiveness Period”). 
  

 (b) If: (i) the Registration Statement is not filed on or prior to the Filing Date; (ii)
the Registration Statement is not declared effective by the Commission by the Effectiveness Date; (iii) after the Registration Statement is filed with and declared effective by the Commission, the Registration Statement ceases to be effective (by
suspension or otherwise) as to all Registrable Securities to which it is required to relate at any time prior to the expiration of the Effectiveness Period (without being succeeded immediately by an additional registration statement filed and
declared effective) for a period of time which shall exceed 30 days (or sixty (60) days if such suspension is directly and solely related to pending disclosure of a completed acquisition) in the aggregate per year or more than 20 consecutive
calendar days (defined as a period of 365 days commencing on the date the Registration Statement is declared effective); or (iv) the Common Stock is not listed or quoted, or is suspended from trading on any Trading Market for a period of three (3)
consecutive Trading Days (provided the Company shall not have been able to cure such trading suspension within 30 days of the notice thereof or list the Common Stock on another Trading Market); (any such failure or breach being referred to as an
“Event,” and for purposes of clause (i) or (ii) the date on which such Event occurs, or for purposes of clause (iii) the date which such 30 day, 60 day or 20 consecutive day period (as the case may be) is exceeded, or for purposes of
clause (iv) the date on which such three (3) Trading Day period is exceeded, being referred to as “Event Date”), then until the applicable Event is cured, the Company shall pay to each Holder an amount in cash, as liquidated damages and
not as a penalty, equal to 1.0% for each thirty (30) day period (prorated for partial periods) on a daily basis of the original principal amount of the Note (less any principal amount of the note that has been paid or converted into shares of Common
Stock). While such Event continues, such liquidated damages shall be paid not less often than each thirty (30) days. Any unpaid liquidated damages as of the date when an Event has been cured by the Company shall be paid within three (3) days
following the date on which such Event has been cured by the Company. 
  
 (c) Within three business days of the Effectiveness Date, the Company shall cause its counsel to issue a blanket opinion in the form attached hereto as Exhibit A, to the transfer agent stating that the shares are
subject to an effective registration statement and can be reissued free of restrictive legend upon notice of a sale by Laurus and confirmation by Laurus that it has complied with the prospectus delivery requirements, provided that the Company has
not advised the transfer agent orally or in writing that the opinion 

  

 
has been withdrawn. Copies of the blanket opinion required by this Section 2(c) shall be delivered to Laurus within the time frame set forth above.

  
 3. Registration Procedures. If and whenever the Company
is required by the provisions hereof to effect the registration of any Registrable Securities under the Securities Act, the Company will, as expeditiously as possible: 
  
 (a) prepare and file with the Commission the Registration Statement with respect to such Registrable
Securities, respond as promptly as possible to any comments received from the Commission, and use its best efforts to cause the Registration Statement to become and remain effective for the Effectiveness Period with respect thereto, and promptly
provide to the Purchaser copies of all filings and Commission letters of comment relating thereto; 
  
 (b) prepare and file with the Commission such amendments and supplements to the Registration Statement and the Prospectus used in
connection therewith as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by the Registration Statement and to keep such Registration Statement effective until
the expiration of the Effectiveness Period; 
  
 (c) furnish to the Purchaser such number of copies of the Registration Statement and the Prospectus included therein (including each preliminary Prospectus) as the Purchaser reasonably may request to facilitate the public sale or
disposition of the Registrable Securities covered by the Registration Statement; 
  
 (d) use its commercially reasonable efforts to register or qualify the Purchaser’s Registrable Securities covered by the Registration
Statement under the securities or “blue sky” laws of such jurisdictions within the United States as the Purchaser may reasonably request, provided, however, that the Company shall not for any such purpose be required to qualify generally
to transact business as a foreign corporation in any jurisdiction where it is not so qualified or to consent to general service of process in any such jurisdiction; 
  
 (e) list the Registrable Securities covered by the Registration Statement with any securities exchange on
which the Common Stock of the Company is then listed; 
  

 (f) immediately notify the Purchaser at any time when a Prospectus relating thereto is
required to be delivered under the Securities Act, of the happening of any event of which the Company has knowledge as a result of which the Prospectus contained in such Registration Statement, as then in effect, includes an untrue statement of a
material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; and 
  
 (g) make available for inspection by the Purchaser and any attorney, accountant or other agent retained by
the Purchaser, all publicly available, non-confidential financial and other records, pertinent corporate documents and properties of the Company, and cause the Company’s officers, directors and employees to supply all publicly available,
non-confidential information reasonably requested by the attorney, accountant or agent of the Purchaser. 
  
 4. Registration Expenses. All expenses relating to the Company’s compliance with Sections 2 and 3 hereof, including, without limitation, all
registration and filing fees, printing expenses, fees and disbursements of counsel and independent public accountants for the Company, fees and expenses (including reasonable counsel fees) incurred in connection with complying with state securities
or “blue sky” laws, fees of the NASD, transfer taxes, fees of transfer agents and registrars, fees of, and disbursements incurred by, one counsel for the Holders (to the extent such counsel is required due to Company’s failure to meet
any of its obligations hereunder), are called “Registration Expenses”. All selling commissions applicable to the sale of Registrable Securities, including any fees and disbursements of any special counsel to the Holders beyond those
included in Registration Expenses, are called “Selling Expenses.” The Company shall only be responsible for all Registration Expenses. 
  
 5. Indemnification. 
  
 (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant to this Agreement, the Company will
indemnify and hold harmless the Purchaser, and its officers, directors and each other person, if any, who controls the Purchaser within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which
the Purchaser, or such persons may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue
statement of any material fact contained in any Registration Statement 

  

 
under which such Registrable Securities were registered under the Securities Act pursuant to this Agreement, any preliminary Prospectus or final Prospectus
contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading,
and will reimburse the Purchaser, and each such person for any reasonable legal or other expenses incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company
will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with
information furnished by or on behalf of the Purchaser or any such person in writing specifically for use in any such document. 
  
 (b) In the event of a registration of the Registrable Securities under the Securities Act pursuant to this Agreement, the Purchaser will
indemnify and hold harmless the Company, and its officers, directors and each other person, if any, who controls the Company within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the
Company or such persons may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement
of any material fact which was furnished in writing by the Purchaser to the Company expressly for use in (and such information is contained in) the Registration Statement under which such Registrable Securities were registered under the Securities
Act pursuant to this Agreement, any preliminary Prospectus or final Prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to
be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such person for any reasonable legal or other expenses incurred by them in connection with investigating or defending any such
loss, claim, damage, liability or action, provided, however, that the Purchaser will be liable in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged
untrue statement or omission or alleged omission so made in conformity with information furnished in writing to the Company by or on behalf of the Purchaser specifically for use in any such document. 

  

 
Notwithstanding the provisions of this paragraph, the Purchaser shall not be required to indemnify any person or entity in excess of the amount of the
aggregate net proceeds received by the Purchaser in respect of Registrable Securities in connection with any such registration under the Securities Act. 
  
 (c) Promptly after receipt by a party entitled to claim indemnification hereunder (an “Indemnified Party”) of notice of the
commencement of any action, such Indemnified Party shall, if a claim for indemnification in respect thereof is to be made against a party hereto obligated to indemnify such Indemnified Party (an “Indemnifying Party”), notify the
Indemnifying Party in writing thereof, but the omission so to notify the Indemnifying Party shall not relieve it from any liability which it may have to such Indemnified Party other than under this Section 5(c) and shall only relieve it from any
liability which it may have to such Indemnified Party under this Section 5(c) if and to the extent the Indemnifying Party is prejudiced by such omission. In case any such action shall be brought against any Indemnified Party and it shall notify the
Indemnifying Party of the commencement thereof, the Indemnifying Party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such Indemnified Party, and, after
notice from the Indemnifying Party to such Indemnified Party of its election so to assume and undertake the defense thereof, the Indemnifying Party shall not be liable to such Indemnified Party under this Section 5(c) for any legal expenses
subsequently incurred by such Indemnified Party in connection with the defense thereof; if the Indemnified Party retains its own counsel, then the Indemnified Party shall pay all fees, costs and expenses of such counsel, provided, however, that, if
the defendants in any such action include both the indemnified party and the Indemnifying Party and the Indemnified Party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to
those available to the Indemnifying Party or if the interests of the Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying Party, the Indemnified Party shall have the right to select one separate counsel and
to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as
incurred. 
  
 (d) In order to provide for just
and equitable contribution in the event of joint liability under the Securities Act in any case in which either (i) 

  

 
the Purchaser, or any officer, director or controlling person of the Purchaser, makes a claim for indemnification pursuant to this Section 5 but it is
judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case
notwithstanding the fact that this Section 5 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Purchaser or such officer, director or controlling person of the Purchaser in
circumstances for which indemnification is provided under this Section 5; then, and in each such case, the Company and the Purchaser will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after
contribution from others) in such proportion so that the Purchaser is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the Registration Statement bears to the public offering
price of all securities offered by such Registration Statement, provided, however, that, in any such case, (A) the Purchaser will not be required to contribute any amount in excess of the public offering price of all such securities offered by it
pursuant to such Registration Statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such
fraudulent misrepresentation. 
  
 6. Representations and
Warranties. 
  
 (a) The Common Stock of the
Company is registered pursuant to Section 12(b) or 12(g) of the Exchange Act and, except with respect to certain matters which the Company has disclosed to the Purchaser on Schedule 4.21 to the Securities Purchase Agreement, the Company has timely
filed all proxy statements, reports, schedules, forms, statements and other documents required to be filed by it under the Exchange Act. The Company has filed (i) its Annual Report on Form 10-K for the fiscal year ended December 31, 2003 and (ii)
its Quarterly Report on Form 10-Q for the fiscal quarters ended March 31, 2004 (collectively, the “SEC Reports”). Each SEC Report was, at the time of its filing, in substantial compliance with the requirements of its respective form and
none of the SEC Reports, nor the financial statements (and the notes thereto) included in the SEC Reports, as of their respective filing dates, contained any untrue statement of a material fact or omitted to state a material fact required to be
stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. The 

  

 
financial statements of the Company included in the SEC Reports comply as to form in all material respects with applicable accounting requirements and the
published rules and regulations of the Commission or other applicable rules and regulations with respect thereto. Such financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) applied on
a consistent basis during the periods involved (except (i) as may be otherwise indicated in such financial statements or the notes thereto or (ii) in the case of unaudited interim statements, to the extent they may not include footnotes or may be
condensed) and fairly present in all material respects the financial condition, the results of operations and the cash flows of the Company and its subsidiaries, on a consolidated basis, as of, and for, the periods presented in each such SEC Report.

  
 (b) The Common Stock is listed for trading on
the American Stock Exchange and satisfies all requirements for the continuation of such listing. The Company has not received any notice that its Common Stock will be delisted from the American Stock Exchange (except for prior notices which have
been fully remedied) or that the Common Stock does not meet all requirements for the continuation of such listing. 
  
 (c) Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly or indirectly made any
offers or sales of any security or solicited any offers to buy any security under circumstances that would cause the offering of the Securities pursuant to the Securities Purchase Agreement to be integrated with prior offerings by the Company for
purposes of the Securities Act which would prevent the Company from selling the Common Stock pursuant to Rule 506 under the Securities Act, or any applicable exchange-related stockholder approval provisions, nor will the Company or any of its
affiliates or subsidiaries take any action or steps that would cause the offering of the Securities to be integrated with other offerings. 
  
 (d) The Warrants, the Note and the shares of Common Stock which the Purchaser may acquire pursuant to the Warrants and the Note are all
restricted securities under the Securities Act as of the date of this Agreement. The Company will not issue any stop transfer order or other order impeding the sale and delivery of any of the Registrable Securities at such time as such Registrable
Securities are registered for public sale or an exemption from registration is available, except as required by federal or state securities laws. 
  

 (e) The Company understands the nature of the Registrable Securities issuable upon the
conversion of the Note and the exercise of the Warrant and recognizes that the issuance of such Registrable Securities may have a potential dilutive effect. The Company specifically acknowledges that its obligation to issue the Registrable
Securities is binding upon the Company and enforceable regardless of the dilution such issuance may have on the ownership interests of other shareholders of the Company. 
  
 (f) Except for agreements made in the ordinary course of business, there is no agreement that has not been
filed with the Commission as an exhibit to a registration statement or to a form required to be filed by the Company under the Exchange Act, the breach of which could reasonably be expected to have a material and adverse effect on the Company and
its subsidiaries, or would prohibit or otherwise interfere with the ability of the Company to enter into and perform any of its obligations under this Agreement in any material respect. 
  
 (g) The Company will at all times have authorized and reserved a sufficient number of shares of Common Stock
for the full conversion of the Note and exercise of the Warrants. 
  
 7. Miscellaneous. 
  
 (a)
Remedies. In the event of a breach by the Company or by a Holder, of any of their respective obligations under this Agreement, each Holder or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law
and under this Agreement, including recovery of damages, will be entitled to specific performance of its rights under this Agreement. 
  
 (b) No Piggyback on Registrations. Except as and to the extent specified in Schedule 7(b) hereto, neither the Company nor any of
its security holders (other than the Holders in such capacity pursuant hereto) may include securities of the Company in any Registration Statement other than the Registrable Securities, and except as and to the extent specified in Schedule 7(b)
hereto, the Company shall not after the date hereof enter into any agreement providing any such right for inclusion of shares in the Registration Statement to any of its security holders. Except as and to the extent specified in Schedule 7(b)
hereto, the Company has not previously entered into any 

  

 
agreement granting any registration rights with respect to any of its securities to any Person that have not been fully satisfied. 
  
 (c) Compliance. Each Holder covenants and agrees that
it will comply with the prospectus delivery requirements of the Securities Act as applicable to it in connection with sales of Registrable Securities pursuant to the Registration Statement. 
  
 (d) Discontinued Disposition. Each Holder agrees by
its acquisition of such Registrable Securities that, upon receipt of a notice from the Company of the occurrence of a Discontinuation Event (as defined below), such Holder will forthwith discontinue disposition of such Registrable Securities under
the applicable Registration Statement until such Holder’s receipt of the copies of the supplemented Prospectus and/or amended Registration Statement or until it is advised in writing (the “Advice”) by the Company that the use of the
applicable Prospectus may be resumed, and, in either case, has received copies of any additional or supplemental filings that are incorporated or deemed to be incorporated by reference in such Prospectus or Registration Statement. The Company may
provide appropriate stop orders to enforce the provisions of this paragraph. For purposes of this Section 7(d), a “Discontinuation Event” shall mean (i) when the Commission notifies the Company whether there will be a “review” of
such Registration Statement and whenever the Commission comments in writing on such Registration Statement (the Company shall provide true and complete copies thereof and all written responses thereto to each of the Holders); (ii) any request by the
Commission or any other Federal or state governmental authority for amendments or supplements to such Registration Statement or Prospectus or for additional information; (iii) the issuance by the Commission of any stop order suspending the
effectiveness of such Registration Statement covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose; (iv) the receipt by the Company of any notification with respect to the suspension of the
qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose; and/or (v) the occurrence of any event or passage of time that
makes the financial statements included in such Registration Statement ineligible for inclusion therein or any statement made in such Registration Statement or Prospectus or any document incorporated or deemed to be incorporated therein by reference
untrue in any material respect or that requires any revisions to such Registration Statement, Prospectus or other documents so that, in the case 

  

 
of such Registration Statement or Prospectus, as the case may be, it will not contain any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. 
  
 (e) Piggy-Back Registrations. If at any time during the Effectiveness Period there is not an effective Registration Statement
covering all of the Registrable Securities and the Company shall determine to prepare and file with the Commission a registration statement relating to an offering for its own account or the account of others under the Securities Act of any of its
equity securities, other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity securities to be issued solely in connection with any acquisition of any entity or business or equity
securities issuable in connection with stock option or other employee benefit plans, then the Company shall send to each Holder written notice of such determination and, if within fifteen days after receipt of such notice, any such Holder shall so
request in writing, the Company shall include in such registration statement all or any part of such Registrable Securities such holder requests to be registered to the extent the Company may do so without violating registration rights of others
which exist as of the date of this Agreement, subject to customary underwriter cutbacks applicable to all holders of registration rights and subject to obtaining any required the consent of any selling stockholder(s) to such inclusion under such
registration statement. 
  
 (f) Amendments and
Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the same shall be in
writing and signed by the Company and the Holders of the then outstanding Registrable Securities. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights
of certain Holders and that does not directly or indirectly affect the rights of other Holders may be given by Holders of at least a majority of the Registrable Securities to which such waiver or consent relates; provided, however, that the
provisions of this sentence may not be amended, modified, or supplemented except in accordance with the provisions of the immediately preceding sentence. 
  

 (g) Notices. Any notice or request hereunder may be given to the Company or the
Purchaser at the respective addresses set forth below or as may hereafter be specified in a notice designated as a change of address under this Section 7(g). Any notice or request hereunder shall be given by registered or certified mail, return
receipt requested, hand delivery, overnight mail, Federal Express or other national overnight next day carrier (collectively, “Courier”) or telecopy (confirmed by mail). Notices and requests shall be, in the case of those by hand delivery,
deemed to have been given when delivered to any party to whom it is addressed, in the case of those by mail or overnight mail, deemed to have been given three (3) business days after the date when deposited in the mail or with the overnight mail
carrier, in the case of a Courier, the next business day following timely delivery of the package with the Courier, and, in the case of a telecopy, when confirmed. The address for such notices and communications shall be as follows: 
  

					
	If to the Company:	  	 PainCare Holdings, Inc.
 37 North Orange
Avenue
 Suite 500
 Orlando, FL 32801

	 	  	 Attention:
 Facsimile:
	  	 Chief Financial Officer
 407-926-6616

		
	 	  	with a copy to:
		
	 	  	 Cloverleaf Capital Advisors, LLC
 12200 W.
Colonial
 Suite 303
 Winter Garden, FL 34787

	 	  	 Attention:
 Facsimile:
	  	 E. Nicholas Davis III
 (407)
905-9695

		
	If to a Purchaser:	  	To the address set forth under such Purchaser name on the signature pages hereto.
		
	If to any other Person who is then the registered Holder:	  	To the address of such Holder as it appears in the stock transfer books of the Company

  

 or such other address as may be designated in writing hereafter in accordance with this Section 7(g) by
such Person. 
  
 (h) Successors and
Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of the parties and shall inure to the benefit of each Holder. The Company may not assign its rights or obligations hereunder
without the prior written consent of each Holder. Each Holder may assign their respective rights hereunder in the manner and to the Persons as permitted under the Notes and the Security Agreement with the prior written consent of the Company, which
consent shall not be unreasonably withheld. 
  
 (i) Execution and Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and, all of which taken together shall constitute one and the same
Agreement. In the event that any signature is delivered by facsimile transmission, such signature shall create a valid binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect
as if such facsimile signature were the original thereof. 
  
 (j) Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of
the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all Proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement shall be commenced
exclusively in the state and federal courts sitting in the City of New York, Borough of Manhattan. Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of
Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any Proceeding, any claim that it is not
personally subject to the jurisdiction of any such court, that such Proceeding is improper. Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any such Proceeding by mailing a copy thereof
via registered or certified mail or overnight delivery (with evidence of delivery) to 

  

 
such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of
process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any
and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. If either party shall commence a Proceeding to enforce any provisions of a Transaction Document, then the
prevailing party in such Proceeding shall be reimbursed by the other party for its reasonable attorneys fees and other costs and expenses incurred with the investigation, preparation and prosecution of such Proceeding. 
  
 (k) Cumulative Remedies. The remedies provided herein
are cumulative and not exclusive of any remedies provided by law. 
  
 (l) Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms,
provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their reasonable efforts to find and employ an alternative means
to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms,
provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 
  
 (m) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the
meaning hereof. 
  
 [BALANCE OF PAGE INTENTIONALLY LEFT BLANK;

 SIGNATURE PAGE FOLLOWS] 
  

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first
written above. 
  

											
	 PAINCARE HOLDINGS, INC.
	 	 	 	 LAURUS MASTER FUND, LTD.

					
	By:	 	 	 	 	 	By:	 	 
	 Name:
	 	 	 	 	 	 Name:
	 	 
	 Title:
	 	 	 	 	 	 Title:
	 	 
				
	 	 	 	 	Address for Notices:	 	 
				
	 	 	 	 	 825 Third Avenue – 14th Floor
 New York, NY 10022
	 	 
	 	 	 	 	 Attention:
 Facsimile:
	 	 David Grin
 212-541-4434

  

 EXHIBIT A 
  

[Month     , 2004] 
  
 [Continental Stock Transfer 
     & Trust Company

 Two Broadway 
 New York, NY 10004 
 Attn: William Seegraber] 
  

	 	Re:	[Company Name]. Registration Statement on Form [S-3] 

  
 Ladies and Gentlemen: 
  
 As counsel to [company name], a Florida corporation (the “Company”), we have been requested to render our opinion to you in connection with the
resale by the individuals or entitles listed on Schedule A attached hereto (the “Selling Stockholders”), of an aggregate of [amount]shares (the “Shares”) of the Company’s Common Stock. 
  
 A Registration Statement on Form [S-3] under the Securities Act of 1933, as
amended (the “Act”), with respect to the resale of the Shares was declared effective by the Securities and Exchange Commission on [date]. Enclosed is the Prospectus dated [date]. We understand that the Shares are to be offered and sold in
the manner described in the Prospectus. 
  
 Based upon the
foregoing, upon request by the Selling Stockholders at any time while the registration statement remains effective, it is our opinion that the Shares have been registered for resale under the Act and new certificates evidencing the Shares upon their
transfer or re-registration by the Selling Stockholders may be issued without restrictive legend. The Company will advise you if the registration statement is not available or effective at any point in the future. 
  
 Very truly yours, 
  
 [Company counsel]Revolving Credit Agreement

 Exhibit 10.1 
  
 REVOLVING CREDIT AGREEMENT 
  
 dated as of June 14, 2004 
  
 among 
  
 HUGHES SUPPLY, INC. 
 as Borrower 
  
 THE LENDERS FROM TIME TO TIME PARTY HERETO 
  
 SUNTRUST BANK 
 as Administrative Agent 
  
 WELLS FARGO BANK, NATIONAL ASSOCIATION 
 and WACHOVIA BANK, N.A., 
 as Co-Syndication Agents 
  
 LEHMAN COMMERCIAL PAPER, INC. and 
 BANK OF AMERICA, N.A., 
 as Co-Documentation Agents 
  
 and 
  
 CITICORP USA, INC. 
 as Managing Agent

  

  
 SUNTRUST CAPITAL MARKETS, INC., 
 as Lead
Arranger and Sole Book Manager 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	 	  	Page

	 ARTICLE I DEFINITIONS; CONSTRUCTION
	  	1
				
	 	 	SECTION 1.1.	  	DEFINITIONS	  	1
	 	 	SECTION 1.2.	  	CLASSIFICATIONS OF LOANS AND BORROWINGS	  	21
	 	 	SECTION 1.3.	  	ACCOUNTING TERMS AND DETERMINATION	  	21
	 	 	SECTION 1.4.	  	TERMS GENERALLY	  	22
		
	 ARTICLE II AMOUNT AND TERMS OF THE COMMITMENTS
	  	22
				
	 	 	SECTION 2.1.	  	GENERAL DESCRIPTION OF FACILITIES	  	22
	 	 	SECTION 2.2.	  	REVOLVING LOANS	  	22
	 	 	SECTION 2.3.	  	PROCEDURE FOR REVOLVING BORROWINGS	  	23
	 	 	SECTION 2.4.	  	INCREASE OF COMMITMENTS; ADDITIONAL LENDERS	  	23
	 	 	SECTION 2.5.	  	SWINGLINE COMMITMENT	  	25
	 	 	SECTION 2.6.	  	PROCEDURE FOR SWINGLINE LOAN; ETC	  	25
	 	 	SECTION 2.7.	  	COMPETITIVE BID BORROWINGS	  	26
	 	 	SECTION 2.8.	  	FUNDING OF BORROWINGS	  	28
	 	 	SECTION 2.9.	  	INTEREST ELECTIONS	  	29
	 	 	SECTION 2.10.	  	OPTIONAL REDUCTION AND TERMINATION OF COMMITMENTS	  	30
	 	 	SECTION 2.11.	  	REPAYMENT OF LOANS	  	30
	 	 	SECTION 2.12.	  	EVIDENCE OF INDEBTEDNESS	  	31
	 	 	SECTION 2.13.	  	OPTIONAL PREPAYMENTS	  	31
	 	 	SECTION 2.14.	  	INTEREST ON LOANS	  	32
	 	 	SECTION 2.15.	  	FEES	  	33
	 	 	SECTION 2.16.	  	COMPUTATION OF INTEREST AND FEES	  	33
	 	 	SECTION 2.17.	  	INABILITY TO DETERMINE INTEREST RATES	  	34
	 	 	SECTION 2.18.	  	ILLEGALITY	  	34
	 	 	SECTION 2.19.	  	INCREASED COSTS	  	35
	 	 	SECTION 2.20.	  	FUNDING INDEMNITY	  	36
	 	 	SECTION 2.21.	  	TAXES	  	36
	 	 	SECTION 2.22.	  	PAYMENTS GENERALLY; PRO RATA TREATMENT; SHARING OF
SET-OFFS	  	38
	 	 	SECTION 2.23.	  	LETTERS OF CREDIT	  	39
	 	 	SECTION 2.24.	  	LIMITATION ON CERTAIN PAYMENT OBLIGATIONS.	  	43
		
	 ARTICLE III CONDITIONS PRECEDENT TO LOANS AND LETTERS OF CREDIT
	  	44
				
	 	 	SECTION 3.1.	  	CONDITIONS TO EFFECTIVENESS	  	44
	 	 	SECTION 3.2.	  	EACH CREDIT EVENT	  	46
	 	 	SECTION 3.3.	  	DELIVERY OF DOCUMENTS	  	46
		
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES
	  	46
				
	 	 	SECTION 4.1.	  	EXISTENCE; POWER	  	47
	 	 	SECTION 4.2.	  	ORGANIZATIONAL POWER; AUTHORIZATION	  	47
	 	 	SECTION 4.3.	  	GOVERNMENTAL APPROVALS; NO CONFLICTS	  	47
	 	 	SECTION 4.4.	  	FINANCIAL STATEMENTS	  	47
	 	 	SECTION 4.5.	  	LITIGATION AND ENVIRONMENTAL MATTERS	  	48
	 	 	SECTION 4.6.	  	COMPLIANCE WITH LAWS AND AGREEMENTS	  	48
	 	 	SECTION 4.7.	  	INVESTMENT COMPANY ACT, ETC.	  	48
	 	 	SECTION 4.8.	  	TAXES	  	48
	 	 	SECTION 4.9.	  	MARGIN REGULATIONS	  	48
	 	 	SECTION 4.10.	  	ERISA	  	49
	 	 	SECTION 4.11.	  	OWNERSHIP OF PROPERTY	  	49

							
	 	 	SECTION 4.12.	 	DISCLOSURE	  	49
	 	 	SECTION 4.13.	 	LABOR RELATIONS	  	50
	 	 	SECTION 4.14.	 	SUBSIDIARIES	  	50
	 	 	SECTION 4.15.	 	INSOLVENCY	  	50
	 	 	SECTION 4.16.	 	OFAC	  	50
	 	 	SECTION 4.17.	 	PATRIOT ACT	  	50
		
	 ARTICLE V AFFIRMATIVE COVENANTS
	  	51
				
	 	 	SECTION 5.1.	 	FINANCIAL STATEMENTS AND OTHER INFORMATION	  	51
	 	 	SECTION 5.2.	 	NOTICES OF MATERIAL EVENTS	  	52
	 	 	SECTION 5.3.	 	EXISTENCE; CONDUCT OF BUSINESS	  	53
	 	 	SECTION 5.4.	 	COMPLIANCE WITH LAWS, ETC.	  	53
	 	 	SECTION 5.5.	 	PAYMENT OF OBLIGATIONS	  	53
	 	 	SECTION 5.6.	 	BOOKS AND RECORDS	  	53
	 	 	SECTION 5.7.	 	VISITATION, INSPECTION, ETC.	  	54
	 	 	SECTION 5.8.	 	MAINTENANCE OF PROPERTIES; INSURANCE	  	54
	 	 	SECTION 5.9.	 	USE OF PROCEEDS AND LETTERS OF CREDIT	  	54
	 	 	SECTION 5.10.	 	ADDITIONAL SUBSIDIARIES	  	54
	 	 	SECTION 5.11.	 	OWNERSHIP OF ALL SUBSIDIARY LOAN PARTIES.	  	55
	 	 	SECTION 5.12	 	POST CLOSING REQUIREMENTS	  	56
		
	 ARTICLE VI FINANCIAL COVENANTS
	  	56
				
	 	 	SECTION 6.1.	 	LEVERAGE RATIO	  	56
	 	 	SECTION 6.2.	 	FIXED CHARGE COVERAGE RATIO	  	56
	 	 	SECTION 6.3.	 	CONSOLIDATED NET WORTH	  	56
		
	 ARTICLE VII NEGATIVE COVENANTS
	  	56
				
	 	 	SECTION 7.1.	 	INDEBTEDNESS AND PREFERRED EQUITY.	  	56
	 	 	SECTION 7.2.	 	NEGATIVE PLEDGE	  	58
	 	 	SECTION 7.3.	 	FUNDAMENTAL CHANGES	  	58
	 	 	SECTION 7.4.	 	INVESTMENTS, LOANS, ETC.	  	59
	 	 	SECTION 7.5.	 	RESTRICTED PAYMENTS	  	60
	 	 	SECTION 7.6.	 	SALE OF ASSETS	  	61
	 	 	SECTION 7.7.	 	TRANSACTIONS WITH AFFILIATES	  	61
	 	 	SECTION 7.8.	 	RESTRICTIVE AGREEMENTS	  	61
	 	 	SECTION 7.9.	 	SALE AND LEASEBACK TRANSACTIONS	  	62
	 	 	SECTION 7.10.	 	HEDGING TRANSACTIONS	  	62
	 	 	SECTION 7.11.	 	FISCAL YEAR	  	62
	 	 	SECTION 7.12.	 	OPTIONAL PREPAYMENTS.	  	62
	 	 	SECTION 7.13.	 	ACTIONS UNDER CERTAIN DOCUMENTS.	  	63
	 	 	SECTION 7.14.	 	FINANCIAL LETTERS OF CREDIT.	  	63
		
	 ARTICLE VIII EVENTS OF DEFAULT
	  	63
				
	 	 	SECTION 8.1.	 	EVENTS OF DEFAULT	  	63
		
	 ARTICLE IX THE ADMINISTRATIVE AGENT
	  	66
				
	 	 	SECTION 9.1.	 	APPOINTMENT OF ADMINISTRATIVE AGENT	  	66
	 	 	SECTION 9.2.	 	NATURE OF DUTIES OF ADMINISTRATIVE AGENT	  	66
	 	 	SECTION 9.3.	 	LACK OF RELIANCE ON THE ADMINISTRATIVE AGENT	  	67
	 	 	SECTION 9.4.	 	CERTAIN RIGHTS OF THE ADMINISTRATIVE AGENT	  	67
	 	 	SECTION 9.5.	 	RELIANCE BY ADMINISTRATIVE AGENT	  	67
	 	 	SECTION 9.6.	 	THE ADMINISTRATIVE AGENT IN ITS INDIVIDUAL CAPACITY	  	68
	 	 	SECTION 9.7.	 	SUCCESSOR ADMINISTRATIVE AGENT	  	68
	 	 	SECTION 9.9.	 	DOCUMENTATION AGENT; SYNDICATION AGENT; MANAGING AGENT.	  	69

  

 ii 

							
	 ARTICLE X MISCELLANEOUS
	  	69
				
	 	 	SECTION 10.1.	 	NOTICES	  	69
	 	 	SECTION 10.2.	 	WAIVER; AMENDMENTS	  	71
	 	 	SECTION 10.3.	 	EXPENSES; INDEMNIFICATION	  	72
	 	 	SECTION 10.4.	 	SUCCESSORS AND ASSIGNS	  	73
	 	 	SECTION 10.5.	 	GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS	  	76
	 	 	SECTION 10.6.	 	WAIVER OF JURY TRIAL	  	76
	 	 	SECTION 10.7.	 	RIGHT OF SETOFF	  	77
	 	 	SECTION 10.8.	 	COUNTERPARTS; INTEGRATION	  	77
	 	 	SECTION 10.9.	 	SURVIVAL	  	77
	 	 	SECTION 10.10.	 	SEVERABILITY	  	78
	 	 	SECTION 10.11.	 	CONFIDENTIALITY	  	78
	 	 	SECTION 10.12.	 	INTEREST RATE LIMITATION	  	78
	 	 	SECTION 10.13	 	WAIVER OF CORPORATE SEAL	  	78
	 	 	SECTION 10.14	 	WAIVER OF NOTICE OF TERMINATION	  	78

  
 Schedules 
  

					
	 Schedule I
	 	-	  	Applicable Margin and Applicable Percentage
	 Schedule 1.1
	 	-	  	Existing Letters of Credit
	 Schedule 4.5
	 	-	  	Environmental Matters
	 Schedule 4.14
	 	-	  	Subsidiaries
	 Schedule 7.1
	 	-	  	Outstanding Indebtedness
	 Schedule 7.2
	 	-	  	Existing Liens
	 Schedule 7.4
	 	-	  	Existing Investments
	 Schedule 7.9
	 	-	  	Existing Sales and Leaseback

  
 Exhibits 
  

					
	 Exhibit A
	 	-	  	Form of Revolving Credit Note
	 Exhibit B
	 	-	  	Form of Competitive Bid Note
	 Exhibit C
	 	-	  	Form of Swingline Note
	 Exhibit D
	 	-	  	Form of Assignment and Acceptance
	 Exhibit E
	 	-	  	Form of Subsidiary Guarantee Agreement
	 Exhibit F
	 	-	  	Form of Indemnity, Subrogation and Contribution Agreement

  

					
	 Exhibit 2.3
	 	-	  	Form of Notice of Revolving Borrowing
	 Exhibit 2.6
	 	-	  	Form of Notice of Swingline Loan
	 Exhibit 2.7-A
	 	-	  	Form of Competitive Bid Request
	 Exhibit 2.7-B
	 	-	  	Form of Notice to Lenders of Competitive Bid Request
	 Exhibit 2.7-C
	 	-	  	Form of Competitive Bid
	 Exhibit 2.9
	 	-	  	Form of Continuation/Conversion
	 Exhibit 3.1(b)(iv)
	 	-	  	Form of Secretary’s Certificate
	 Exhibit 3.1(b)(vii)
	 	-	  	Form of Officer’s Certificate
	 Exhibit 5.1(c)
	 	-	  	Form of Compliance Certificate

  

 iii 

 REVOLVING CREDIT AGREEMENT 
  
 THIS REVOLVING CREDIT AGREEMENT (this “Agreement”) is made and entered into as of June 14, 2004, by
and among HUGHES SUPPLY, INC. a Florida corporation (the “Borrower”), the several banks and other financial institutions from time to time party hereto (the “Lenders”), and SUNTRUST BANK, in its
capacity as administrative agent for the Lenders (the “Administrative Agent”), as issuing bank (the “Issuing Bank”) and as swingline lender (the “Swingline Lender”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Borrower has requested that the Lenders establish a
$500,000,000 revolving credit facility in favor of the Borrower; 
  
 WHEREAS, subject to the terms and conditions of this Agreement, the Lenders, the Issuing Bank and the Swingline Lender to the extent of their respective Commitments as defined herein, are willing severally to establish the requested
revolving credit facility, letter of credit subfacility and the swingline subfacility in favor of the Borrower. 
  
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the Borrower, the Lenders, the Administrative Agent,
the Issuing Bank and the Swingline Lender agree as follows: 
  
 ARTICLE I 
  
 DEFINITIONS; CONSTRUCTION

  
 Section 1.1. Definitions. In addition
to the other terms defined herein, the following terms used herein shall have the meanings herein specified (to be equally applicable to both the singular and plural forms of the terms defined): 
  
 “2011 Notes” shall mean Borrower’s
$98,000,000 7.96% Senior Notes due May 30, 2011. 
  
 “2012 Notes” shall mean, collectively, Borrower’s (i) $40,000,000 7.14% Series A Senior Notes due May 30, 2012 and (ii) $40,000,000 7.19% Series B Senior Notes due May 30, 2012. 
  
 “2013 Notes” shall mean the Borrower’s
$50,000,000 6.74% Senior Notes due May 1, 2013. 
  
 “8.27% Notes” shall mean, collectively, Borrower’s (i) $28,000,000 8.27% Series B Senior Notes due November 30, 2005 and (ii) $103,000,000 8.42% Series C Senior Notes due 2007. 
  
 “Adjusted LIBO Rate” shall mean, with respect to each
Interest Period for a Eurodollar Borrowing, the rate per annum obtained by dividing (i) LIBOR for such Interest Period by (ii) a percentage equal to 1.00 minus the Eurodollar Reserve Percentage. 

 “Additional Commitment Amount” shall have the meaning set forth in Section
2.4. 
  
 “Additional Lender” shall
have the meaning set forth in Section 2.4. 
  
 “Administrative Agent” shall have the meaning set forth in the introductory paragraph hereof. 
  
 “Administrative Questionnaire” shall mean, with respect to each Lender, an administrative questionnaire in the form prepared by
the Administrative Agent and submitted to the Administrative Agent duly completed by such Lender. 
  
 “Affiliate” shall mean, as to any Person, any other Person that directly, or indirectly through one or more intermediaries,
Controls, is Controlled by, or is under common Control with, such Person. For the purposes of this definition, “Control” shall mean the power, directly or indirectly, either to (i) vote 5% or more of the securities having ordinary voting
power for the election of directors (or persons performing similar functions) of a Person or (ii) direct or cause the direction of the management and policies of a Person, whether through the ability to exercise voting power, by control or
otherwise. The terms “Controlling”, “Controlled by”, and “under common Control with” have the meanings correlative thereto. 
  
 “Aggregate Revolving Commitment Amount” shall mean the aggregate principal amount of the Aggregate Revolving Commitments from time
to time. On the Closing Date, the Aggregate Revolving Commitment Amount equals $500,000,000. 
  
 “Aggregate Revolving Commitments” shall mean, collectively, all Revolving Commitments of all Lenders at any time outstanding.

  
 “Aggregate Subsidiary Threshold” shall
mean an amount equal to ninety percent (90%) of the total consolidated revenue or assets of the Borrower and its Subsidiaries (excluding any Securitization Subsidiaries) for the most recent Fiscal Quarter as shown on the financial statements most
recently delivered or required to be delivered pursuant to Section 5.1(a) or (b), as the case may be. 
  
 “Applicable Lending Office” shall mean, for each Lender and for each Type of Loan, the “Lending Office” of such Lender
(or an Affiliate of such Lender) designated for such Type of Loan in the Administrative Questionnaire submitted by such Lender or such other office of such Lender (or an Affiliate of such Lender) as such Lender may from time to time specify to the
Administrative Agent and the Borrower as the office by which its Loans of such Type are to be made and maintained. 
  
 “Applicable Margin” shall mean, as of any date of determination, (a) prior to the Borrower receiving a senior unsecured debt
rating from both S&P and Moody’s, with respect to all Borrowings and the letter of credit fee, as the case may be, a percentage per annum determined by reference to the applicable Leverage Ratio in effect on such date as set forth in Part A
of Schedule I; provided, that a change in the Applicable Margin resulting from a change in the Leverage Ratio shall be effective on the first day of the first Fiscal Quarter after which the Borrower delivers the financial statements
required by Section 5.1(a) or (b) and the Compliance 
  

 2 

 Certificate required by Section 5.1 (c); provided further, that if at any time the Borrower shall
have failed to deliver such financial statements and such Compliance Certificate when so required, the Applicable Margin shall be at Level V as set forth in Part A of Schedule I until such time as such financial statements and certificate are
delivered, at which time the Applicable Margin shall be determined as provided above; or (b) at any time after the Borrower receives a senior unsecured debt rating from both S&P and Moody’s, with respect to all Borrowings and the letter of
credit fee, as the case may be, the percentage per annum determined by reference to the applicable Rating Category from time to time in effect as set forth in Part B of Schedule I; provided, that a change in the Applicable Margin
resulting from a change in the Rating Category shall be effective on the day on which either rating agency changes its rating and shall continue until the day prior to the day that a further change becomes effective. Notwithstanding the foregoing,
from the date of this Agreement until December 10, 2004 the Applicable Margin shall be at Level II as set forth in Part A of Schedule I or Level III as set forth in Part B of Schedule I, as applicable. Commencing December 11, 2004, the
Applicable Margin shall be determined on the basis of the financial statements and Compliance Certificate for the Fiscal Quarter ending October 29, 2004, and thereafter shall be determined on the basis of financial statements and Compliance
Certificates submitted for subsequent Fiscal Quarters. 
  
 “Applicable Percentage” shall mean, as of any date of determination, (a) prior to the Borrower receiving a senior unsecured debt rating from both S&P and Moody’s, with respect to the commitment fee as of any
date, the percentage per annum determined by reference to the applicable Leverage Ratio in effect on such date as set forth in Part A of Schedule I; provided, that a change in the Applicable Percentage resulting from a change in the
Leverage Ratio shall be effective on the first day of the first Fiscal Quarter after which the Borrower delivers the financial statements required by Section 5.1(a) or (b) and the Compliance Certificate required by Section
5.1 (c); provided, further, that if at any time the Borrower shall have failed to deliver such financial statements and such Compliance Certificate, the Applicable Percentage shall be at Level V as set forth on Schedule I
until such time as such financial statements and certificate are delivered, at which time the Applicable Percentage shall be determined as provided above; or (b) at any time after the Borrower receives a senior unsecured debt rating from both
S&P and Moody’s, with respect to the commitment fee as of any date, the percentage per annum determined by reference to the applicable Rating Category as set forth in Part B of Schedule I; provided, that a change in the
Applicable Percentage resulting from a change in the Rating Category shall be effective on the day on which either rating agency changes its rating and shall continue until the day prior to the day that a further change becomes effective.
Notwithstanding the foregoing, from the date of this Agreement until December 10, 2004 the Applicable Percentage shall be at Level II as set forth in Part A of Schedule I or Level III as set forth in Part B of Schedule I, as applicable.
Commencing December 11, 2004, the Applicable Percentage shall be determined on the basis of the financial statements and Compliance Certificate for the Fiscal Quarter ending October 29, 2004, and thereafter shall be determined on the basis of
financial statements and Compliance Certificates submitted for subsequent Fiscal Quarters. 
  
 “Approved Fund” shall mean 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 and that is administered or managed by (i) a Lender, (ii) an Affiliate of a Lender or (iii) an entity or an Affiliate of an entity that administers or manages a Lender. 
  

 3 

 “Asset Value” shall mean, with respect to any property or asset of the Borrower
or any Subsidiary as of any particular date, an amount equal to the greater of (i) the net book value of such property or asset as of such date as established in accordance with GAAP, and (ii) the fair market value of such property or asset as of
such date as determined in good faith by the board of directors of the Borrower or such Subsidiary. 
  
 “Assignment and Acceptance” shall mean an assignment and acceptance entered into by a Lender and an assignee (with the consent of
any party whose consent is required by Section 10.4(b)) and accepted by the Administrative Agent, in the form of Exhibit D attached hereto or any other form approved by the Administrative Agent. 
  
 “Availability Period” shall mean the period
from the Closing Date to the Revolving Commitment Termination Date. 
  
 “Base Rate” shall mean the higher of (i) the per annum rate which the Administrative Agent publicly announces from time to time to be its prime lending rate, as in effect from time to time, and (ii) the Federal Funds
Rate, as in effect from time to time, plus one-half of one percent (0.50%). The Administrative Agent’s prime lending rate is a reference rate and does not necessarily represent the lowest or best rate charged to customers. The
Administrative Agent may make commercial loans or other loans at rates of interest at, above or below the Administrative Agent’s prime lending rate. Each change in the Administrative Agent’s prime lending rate shall be effective from and
including the date such change is publicly announced as being effective. 
  
 “Borrower” shall have the meaning set forth in the introductory paragraph hereof. 
  
 “Borrowing” shall mean a borrowing consisting of (i) Loans of the same Class and Type, made, converted or continued on the same
date and in the case of Eurodollar Loans, as to which a single Interest Period is in effect, or (ii) a Swingline Loan. 
  
 “Business Day” shall mean (i) any day other than a Saturday, Sunday or other day on which commercial banks in Atlanta, Georgia are
authorized or required by law to close and (ii) if such day relates to a Borrowing of, a payment or prepayment of principal or interest on, a conversion of or into, or an Interest Period for, a Eurodollar Loan or a notice with respect to any of the
foregoing, any day on which dealings in Dollars are carried on in the London interbank market. 
  
 “Capital Lease Obligations” of any Person shall mean all obligations of such Person to pay rent or other amounts under any lease (or other arrangement conveying the right to use) of real or
personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof
determined in accordance with GAAP. 
  
 “Capital
Stock” shall mean any non-redeemable capital stock (or in the case of a partnership or limited liability company, the partners’ or members’ equivalent equity interest) of the Borrower or any of its Subsidiaries (to the extent
issued to a Person other than the Borrower), whether common or preferred. 
  

 4 

 “Captive Insurance Company” shall mean Hughes Insurance Company Ltd., a
wholly-owned Subsidiary of the Borrower that is an authorized insurer under the laws of Bermuda. 
  
 “Change in Control” shall mean the occurrence of one or more of the following events: (i) any “person” or
“group” (within the meaning of Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) shall become the “beneficial owner(s)” (as defined in said Rule 13(d)(3)) of more than 25% or more of the shares of the
outstanding common stock of the Borrower entitled to vote for members of the Borrower’s board of directors, (ii) occupation of a majority of the seats (other than vacant seats) on the board of directors of the Borrower by Persons who were
neither (a) nominated by the current board of directors nor (b) appointed by directors so nominated or (iii) any event or condition shall occur or exist which, pursuant to the terms of any Change in Control Provision, requires or permits the
holder(s) of Indebtedness of the Borrower or any of its Subsidiaries to require that such Indebtedness be redeemed, repurchased, defeased, prepaid or repaid, in whole or in part, or the maturity of such Indebtedness to be accelerated in any respect.

  
 “Change in Control Provision” shall
mean any term or provision contained in any indenture, debenture, note, or other agreement or document evidencing or governing Indebtedness of Borrower evidencing debt or a commitment to extend loans in excess of $5,000,000 which requires, or
permits the holder(s) of such Indebtedness of Borrower to require that such Indebtedness of Borrower be redeemed, repurchased, defeased, prepaid or repaid, either in whole or in part, or the maturity of such Indebtedness of Borrower to be
accelerated in any respect, as a result of a change in ownership of the capital stock of Borrower or voting rights with respect thereto. 
  
 “Change in Law” shall mean (i) the adoption of any applicable law, rule or regulation after the date of this Agreement, (ii) any
change in any applicable law, rule or regulation, or any change in the interpretation or application thereof, by any Governmental Authority after the date of this Agreement, or (iii) compliance by any Lender (or its Applicable Lending Office) or the
Issuing Bank (or for purposes of Section 2.19(b), by such Lender’s or the Issuing Bank’s holding company, if applicable) with any request, guideline or directive (whether or not having the force of law) of any Governmental
Authority made or issued after the date of this Agreement. 
  
 “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Revolving Loans, Competitive Bid Loans or Swingline Loans and when used in reference
to any Commitment, refers to whether such Commitment is a Revolving Commitment or a Swingline Commitment. 
  
 “Closing Date” shall mean the date on which the conditions precedent set forth in Section 3.1 and Section 3.2 have
been satisfied or waived in accordance with Section 10.2. 
  
 “Code” shall mean the Internal Revenue Code of 1986, as amended and in effect from time to time. 
  

 5 

 “Commitment” shall mean a Revolving Commitment or a Swingline Commitment or any
combination thereof (as the context shall permit or require). 
  
 “Competitive Bid” shall mean an offer by a Lender to make a Competitive Bid Loan substantially in the form of Exhibit 2.7-C, to be delivered by a Lender to the Administrative Agent and the Borrower (or another
Person designated by the Borrower in the Competitive Bid Request) in response to a Competitive Bid Request. 
  
 “Competitive Bid Loan” shall mean a Loan made pursuant to Section 2.7. 
  
 “Competitive Bid Loan Limit” shall mean $75,000,000.

  
 “Competitive Bid Note” shall mean a
promissory note of the Borrower payable to the order of any requesting Lender in the principal amount of the Competitive Bid Loan Limit, in substantially the form of Exhibit B. 
  
 “Competitive Bid Rate” shall mean, with respect to any Competitive Bid, the rate of interest
applicable to such Competitive Bid Loan, as specified by the Lender making such Competitive Bid. 
  
 “Competitive Bid Request” shall mean a request for a proposed Competitive Bid Rate at which a Competitive Bid Loan may be made,
substantially in the form of Exhibit 2.7-A submitted by the Borrower to the Administrative Agent in accordance with Section 2.7. 
  
 “Compliance Certificate” shall mean a certificate from the principal executive officer and the principal financial officer of the
Borrower in the form of, and containing the certifications set forth in, the certificate attached hereto as Exhibit 5.1(c). 
  
 “Consolidated EBITDAR” shall mean, for the Borrower and its Subsidiaries for any period, an amount equal to the sum of (i)
Consolidated EBITR for such period plus (ii) to the extent deducted in determining Consolidated EBITR, depreciation and amortization determined on a consolidated basis in accordance with GAAP for such period. 
  
 “Consolidated EBITR” shall mean, for the Borrower and
its Subsidiaries for any period, an amount equal to (i) Consolidated Net Income for such period plus (ii) to the extent deducted in determining Consolidated Net Income for such period, (A) Consolidated Interest Expense, (B) income tax expense
determined on a consolidated basis in accordance with GAAP and (C) Consolidated Rental Expense. 
  
 “Consolidated Fixed Charges” shall mean, for the Borrower and its Subsidiaries for any period, the sum (without duplication) of
(i) Consolidated Interest Expense for such period, plus (ii) Consolidated Rental Expense for such period. 
  
 “Consolidated Interest Expense” shall mean, for any period of the Borrower, total interest expense of the Borrower and its
Subsidiaries determined on a consolidated basis in accordance with GAAP, and including without limitation or duplication, interest expense attributable to Capital Lease Obligations, any program costs incurred by the Borrower in connection with
Securitization Transactions and any interest expense attributable to Hedging Transactions. 
  

 6 

 “Consolidated Net Income” shall mean, for the Borrower and its Subsidiaries for
any period, the net income (or loss) of the Borrower and its Subsidiaries for such period (taken as a single accounting period) determined on a consolidated basis in accordance with GAAP, but excluding therefrom (to the extent otherwise included
therein) (i) any items of gain or loss which were included in determining such Consolidated Net Income and were not realized in the ordinary course of business or the result of a sale of assets other than in the ordinary course of business and (ii)
any income (or loss) of any Person accrued prior to the date such Person becomes a Subsidiary, or is merged into or consolidated with Borrower or any Subsidiary, on the date that such Person’s assets are acquired by the Borrower or any
Subsidiary. 
  
 “Consolidated Net Worth”
shall mean, as of any date, the Borrower’s total shareholder’s equity of such date as determined in accordance with GAAP. 
  
 “Consolidated Rental Expense” shall mean, for the Borrower and its Subsidiaries for any period, the total operating lease expense
for such period, determined on a consolidated basis in accordance with GAAP and without duplication. 
  
 “Consolidated Total Capital” shall mean, as of any date, the sum of (i) Consolidated Total Funded Debt as of such date and (ii)
Consolidated Net Worth as of such date. 
  
 “Consolidated Total Funded Debt” shall mean, as of any date, all Indebtedness of the Borrower and its Subsidiaries other than Indebtedness of the type described in subsections (vi) and (vii) of the definition
thereto, but including, without limitation, all Loans and Letters of Credit. 
  
 “Contractual Obligation” of any Person shall mean any provision of any security issued by such Person or of any agreement, instrument or undertaking under which such Person is obligated or by
which it or any of the property in which it has an interest is bound. 
  
 “Default” shall mean any condition or event that, with the giving of notice or the lapse of time or both, would constitute an Event of Default. 
  
 “Default Interest” shall have the meaning set forth in Section 2.14(d). 
  
 “Dollar(s)” and the sign “$”
shall mean lawful money of the United States of America. 
  
 “Eligible Assignee” shall mean (i) a Lender; (ii) an Affiliate of a Lender; (iii) an Approved Fund; and (iv) any other Person (other than a natural Person) approved by the Administrative Agent, the Issuing Bank, and
unless (x) such Person is taking delivery of an assignment in connection with physical settlement of a credit derivatives transaction or (y) an Event of Default has occurred and is continuing, the Borrower (each such approval not to be unreasonably
withheld or delayed). If the consent of the Borrower to an assignment or to an Eligible Assignee is required hereunder (including a consent to an assignment which does not meet the minimum assignment thresholds specified in paragraph (b)(i) of
Section 10.4), the 
  

 7 

 Borrower shall be deemed to have given its consent five (5) Business Days after the date notice thereof has actually been
delivered by the assigning Lender (through the Administrative Agent) to the Borrower, unless such consent is expressly refused by the Borrower prior to such fifth Business Day. 
  
 “Environmental Laws” shall mean all laws, rules, regulations, codes, ordinances, orders, decrees,
judgments, injunctions, notices or binding agreements issued, promulgated or entered into by or with any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the management, Release or
threatened Release of any Hazardous Material or to health and safety matters. 
  
 “Environmental Liability” shall mean any liability, contingent or otherwise (including any liability for damages, costs of environmental investigation and remediation, costs of administrative
oversight, fines, natural resource damages, penalties or indemnities), of the Borrower or any Subsidiary directly or indirectly resulting from or based upon (i) any actual or alleged violation of any Environmental Law, (ii) the generation, use,
handling, transportation, storage, treatment or disposal of any Hazardous Materials, (iii) any actual or alleged exposure to any Hazardous Materials, (iv) the Release or threatened Release of any Hazardous Materials or (v) any contract, agreement or
other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 
  
 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time, and any successor statute.

  
 “ERISA Affiliate” shall mean any trade
or business (whether or not incorporated), which, together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code or, solely for the purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a
single employer under Section 414 of the Code. 
  
 “ERISA Event” shall mean (i) any “reportable event”, as defined in Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day notice
period is waived); (ii) the existence with respect to any Plan of an “accumulated funding deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived; (iii) the filing pursuant to Section 412(d) of
the Code or Section 303(d) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan; (iv) the incurrence by the Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to
the termination of any Plan; (v) the receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan administrator appointed by the PBGC of any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to
administer any Plan; (vi) the incurrence by the Borrower or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (vii) the receipt by the Borrower or any ERISA
Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be,
insolvent or in reorganization, within the meaning of Title IV of ERISA. 
  

 8 

 “Eurodollar” when used in reference to any Loan or Borrowing (including any
Competitive Bid Loan or Borrowing), refers to whether such Loan, or the Loans comprising such Borrowing, bears interest at a rate determined by reference to the Adjusted LIBO Rate.  
  
 “Eurodollar Reserve Percentage” shall mean the
aggregate of the maximum reserve percentages (including, without limitation, any emergency, supplemental, special or other marginal reserves) expressed as a decimal (rounded upwards to the next 1/100th of 1%) in effect on any day to which the Administrative Agent is subject with respect to the Adjusted LIBO Rate pursuant to regulations issued by the Board of
Governors of the Federal Reserve System (or any Governmental Authority succeeding to any of its principal functions) with respect to eurocurrency funding (currently referred to as “eurocurrency liabilities” under Regulation D). Eurodollar
Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under Regulation D. The
Eurodollar Reserve Percentage shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 
  
 “Event of Default” shall have the meaning set forth in Section 8.1. 
  
 “Excluded Taxes” shall mean with respect to
the Administrative Agent, any Lender, the Issuing Bank or any other recipient of any payment to be made by or on account of any obligation of the Borrower hereunder, (i) income or franchise taxes imposed on (or measured by) its net income by the
United States of America, or by the jurisdiction under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located, (ii) any branch
profits taxes imposed by the United States of America or any similar tax imposed by any other jurisdiction in which any Lender is located and (iii) in the case of a Foreign Lender, any withholding tax that (x) is imposed on amounts payable to such
Foreign Lender at the time such Foreign Lender becomes a party to this Agreement, (y) is imposed on amounts payable to such Foreign Lender at any time that such Foreign Lender designates a new lending office, other than taxes that have accrued prior
to the designation of such lending office that are otherwise not Excluded Taxes, and (z) is attributable to such Foreign Lender’s failure to comply with Section 2.21(e). 
  
 “Existing Credit Agreement” shall mean that certain
Revolving Credit Agreement, dated as of March 26, 2003, by and among the Borrower, the banks from time to time party thereto and SunTrust Bank as administrative agent, as amended or modified prior to the date hereof. 
  
 “Existing Letters of Credit” shall mean those letters
of credit set forth on Schedule 1.1 attached hereto. 
  
 “Federal Funds Rate” shall mean, for any day, the rate per annum (rounded upwards, if necessary, to the next 1/100th of 1%) equal to the weighted average of the rates on overnight Federal funds transactions with member banks of the Federal Reserve System arranged by Federal funds brokers, as published by the Federal
Reserve Bank of New York on the next succeeding Business Day or if such rate is not so published for any Business Day, the Federal Funds Rate for such day shall be the average rounded upwards, if necessary, to the next 1/100th of 1% 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. 
  

 9 

 “Fee Letter” shall mean that certain fee letter, dated as of May 10, 2004,
executed by SunTrust Bank and accepted by Borrower. 
  
 “Financial Letters of Credit” shall mean, collectively, (i) all standby letters of credit issued for the account of the Borrower or any of its Subsidiaries, other than standby letters of credit supporting obligations
incurred in the ordinary course of business of the types referred to in clauses (iii) and (iv) of the definition of Permitted Encumbrances, as well as liability insurance, and (ii) all direct pay letters of credit issued for the account of the
Borrower or any of its Subsidiaries supporting financing arrangements, including industrial development revenue bonds; provided, however, that the term Financial Letters of Credit shall exclude all trade letters of credit issued for the account of
the Borrower or any of its Subsidiaries. 
  
 “Fiscal
Quarter” shall mean any fiscal quarter of the Borrower. 
  
 “Fiscal Year” shall mean any fiscal year of the Borrower. 
  
 “Fixed Charge Coverage Ratio” shall mean, as of any date, the ratio of (a) Consolidated EBITDAR to (b) Consolidated Fixed Charges, in each case measured for the four consecutive Fiscal Quarters
ending on or immediately prior to such date. 
  
 “Foreign Lender” shall mean any Lender that is not a United States person under Section 7701(a)(3) of the Code. 
  
 “Foreign Subsidiary” shall mean any Subsidiary that is organized under the laws of a jurisdiction other than one of the fifty
states of the United States or the District of Columbia. 
  
 “GAAP” shall mean generally accepted accounting principles in the United States applied on a consistent basis and subject to the terms of Section 1.3. 
  
 “Governmental Authority” shall mean the government of
the United States of America, any other nation or 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. 
  
 “Guarantee” of or by any Person (the “guarantor”) shall mean any obligation, contingent or otherwise, of the
guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”) in any manner, whether directly or indirectly and including any obligation, direct
or indirect, of the guarantor (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for the purchase of) any security for the payment
thereof, (ii) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (iii) to maintain working capital, equity capital or any other financial
statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such 
  

 10 

 Indebtedness or other obligation or (iv) as an account party in respect of any letter of credit or letter of guaranty
issued in support of such Indebtedness or obligation; provided, that the term “Guarantee” shall not include endorsements for collection or deposits in the ordinary course of business. The amount of any Guarantee shall be deemed to
be an amount equal to the stated or determinable amount of the primary obligation in respect of which Guarantee is made or, if not so stated or determinable, the maximum reasonably anticipated liability in respect thereof (assuming such Person is
required to perform thereunder) as determined by such Person in good faith. The term “Guarantee” used as a verb has a corresponding meaning. 
  
 “Hazardous Materials” shall mean all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes
or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to
any Environmental Law. 
  
 “Hedging
Obligations” of any Person shall mean any and all obligations of such Person, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired under (i) any and all Hedging Transactions, (ii) any and
all cancellations, buy backs, reversals, terminations or assignments of any Hedging Transactions and (iii) any and all renewals, extensions and modifications of any Hedging Transactions and any and all substitutions for any Hedging Transactions,
including without limitation any promissory notes issued to pay the Net Mark-to-Market Exposure of any Hedging Transaction that is terminated. 
  
 “Hedging Transaction” of any Person shall mean any transaction (including an agreement with respect thereto) now existing or
hereafter entered into by such Person that is a derivative instrument as defined under FAS 133 as applied under GAAP. 
  
 “Indebtedness” of any Person shall mean, without duplication (i) all obligations of such Person for borrowed money, (ii) all
obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (iii) all obligations of such Person in respect of the deferred purchase price of property or services (other than trade payables incurred in the ordinary
course of business; provided, that for purposes of Section 8.1(f), trade payables overdue by more than 120 days shall be included in this definition except to the extent that any of such trade payables are being disputed in good
faith and by appropriate measures), (iv) all obligations of such Person under any conditional sale or other title retention agreement(s) relating to property acquired by such Person, (v) all Capital Lease Obligations of such Person, (vi) all
obligations, contingent or otherwise, of such Person in respect of Financial Letters of Credit, acceptances or similar extensions of credit, (vii) Hedging Obligations (viii) all Guarantees of such Person of the type of Indebtedness described in
clauses (i) through (vii) above, (ix) all Indebtedness of a third party secured by any Lien on property owned by such Person, whether or not such Indebtedness has been assumed by such Person, (x) all obligations of such Person, contingent or
otherwise, to purchase, redeem, retire or otherwise acquire for value any common stock of such Person and (xi) Off-Balance Sheet Debt. The Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture in which such
Person is a general partner or a joint venturer, except to the extent that the terms of such Indebtedness provide that such Person is not liable therefor. For purposes of determining the amount of attributed Indebtedness from Hedging Obligations,
the “principal amount” of any Hedging Obligations at any time shall be the Net Mark-to-Market Exposure of such Hedging Obligations. 
  

 11 

 “Indemnified Taxes” shall mean Taxes other than Excluded Taxes. 
  
 “Indemnity and Contribution Agreement” shall mean the
Indemnity, Subrogation and Contribution Agreement, dated as of the date hereof and substantially in the form of Exhibit F, among the Borrower, the Subsidiary Loan Parties and the Administrative Agent; provided, however, that at any
time the Captive Insurance Company shall be required to become a party to the Indemnity and Contribution Agreement pursuant to Section 5.10, the Indemnity and Contribution Agreement shall provide that as to the Captive Insurance Company in no
event or circumstance shall the Administrative Agent, any Lender or any other Guarantor be entitled to recover from the Captive Insurance Company any amount that would cause the statutory assets of the Captive Insurance Company to fail to exceed its
statutory liabilities by the greatest of (a) $120,000, (b) 20% of net premiums written up to $6,000,000 plus 10% of net premiums written over $6,000,000 and (c) 10% of loss and other insurance reserves; provided, further, such
limitations may be amended from time to time with the consent of the Administrative Agent, such consent not to be unreasonably withheld, as required to comply with the insurance laws and regulations of Bermuda. 
  
 “Indemnity and Contribution Agreement Supplement”
shall mean each supplement substantially in the form of Annex I to the Indemnity and Contribution Agreement executed and delivered by a Subsidiary of the Borrower pursuant to Section 5.10. 
  
 “Information Memorandum” shall mean the Confidential
Information Memorandum dated May 2004 relating to the Borrower and the transactions contemplated by this Agreement and the other Loan Documents. 
  
 “Interest Period” shall mean (a) with respect to any Eurodollar Borrowing, a period of one, two, three or six months;
provided, that: 
  
 (i) the initial
Interest Period for such Borrowing shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of another Type), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the
day on which the next preceding Interest Period expires; 
  
 (ii) if any Interest Period would otherwise end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day, unless such Business Day falls in another calendar month,
in which case such Interest Period would end on the next preceding Business Day; 
  
 (iii) any Interest Period which begins on the last Business Day of a calendar month or on a day for which there is no numerically
corresponding day in the calendar month at the end of such Interest Period shall end on the last Business Day of such calendar month; and 
  
 (iv) no Interest Period may extend beyond the Revolving Commitment Termination Date; 
  

 12 

 (b) with respect to any Competitive Bid Loan, such period as the Borrower shall request and the applicable Lender shall
accept; provided, however, that (i) no Interest Period for Competitive Bid Loans shall exceed 180 days, (ii) no such Interest Period shall extend beyond the Revolving Commitment Termination Date and (iii) if any 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 and (c) with respect to any Swingline Loan, such period as the Borrower and the Swingline Lender shall agree. 
  
 “Issuing Bank” shall mean SunTrust Bank or any other
Lender, each in its capacity as an issuer of Letters of Credit pursuant to Section 2.23. 
  
 “LC Commitment” shall mean that portion of the Aggregate Revolving Commitment Amount that may be used by the Borrower for the
issuance of Letters of Credit in an aggregate face amount not to exceed $15,000,000. 
  
 “LC Disbursement” shall mean a payment made by the Issuing Bank pursuant to a Letter of Credit. 
  

“LC Documents” shall mean the Letters of Credit and all applications, agreements and instruments relating to the Letters of
Credit. 
  
 “LC Exposure” shall mean, at
any time, the sum of (i) the aggregate undrawn amount of all outstanding Letters of Credit at such time, plus (ii) the aggregate amount of all LC Disbursements that have not been reimbursed by or on behalf of the Borrower at such time. The LC
Exposure of any Lender shall be its Pro Rata Share of the total LC Exposure at such time. 
  
 “Lenders” shall have the meaning set forth in the introductory paragraph hereof and shall include, where appropriate, the Swingline Lender and each Additional Lender that joins this Agreement
pursuant to Section 2.4 and Section 10.4. 
  
 “Letter of Credit” shall mean any stand-by letter of credit issued pursuant to Section 2.23 by the Issuing Bank for the account of the Borrower pursuant to the LC Commitment and any Existing Letters of Credit.

  
 “Leverage Ratio” shall mean, as of any
date, the ratio of (i) Consolidated Total Funded Debt as of such date to (ii) Consolidated Total Capital as of such date. 
  
 “LIBOR” shall mean, for any applicable Interest Period with respect to any Eurodollar Loan, the British Bankers’ Association
Interest Settlement Rate per annum for deposits in Dollars for a period equal to such Interest Period appearing on the display designated as Page 3750 on the Dow Jones Markets Service (or such other page on that service or such other service
designated by the British Bankers’ Association for the display of such Association’s Interest Settlement Rates for Dollar deposits) as of 11:00 a.m. (London, England time) on the day that is two Business Days prior to the first day of the
Interest Period or if such Page 3750 is unavailable for any reason at such time, the rate which appears on the Reuters Screen ISDA Page as of such date and such time; provided, that if the Administrative Agent determines that the relevant
foregoing sources are unavailable for the relevant Interest Period, LIBOR shall mean the rate of interest determined by the Administrative Agent to be the average (rounded upward, if 
  

 13 

 necessary, to the nearest 1/100th of 1%) of the rates per annum at which deposits in Dollars are offered to the Administrative Agent two (2) Business Days preceding the first day of such Interest Period by leading banks in the London
interbank market as of 10:00 a.m. for delivery on the first day of such Interest Period, for the number of days comprised therein and in an amount comparable to the amount of the Eurodollar Loan of the Administrative Agent. 
  
 “Lien” shall mean any mortgage, pledge, security
interest, lien (statutory or otherwise), charge, encumbrance, hypothecation, assignment, deposit arrangement, or other arrangement having the practical effect of the foregoing or any preference, priority or other security agreement or preferential
arrangement of any kind or nature whatsoever (including any conditional sale or other title retention agreement and any capital lease having the same economic effect as any of the foregoing). 
  
 “Loan Documents” shall mean, collectively, this
Agreement, the Notes (if any), the LC Documents, the Subsidiary Guaranty Agreement, the Indemnity and Contribution Agreement, all Notices of Borrowing, all Notices of Conversion/Continuation and any and all other instruments, agreements, documents
and writings executed in connection with any of the foregoing. 
  
 “Loan Parties” shall mean the Borrower and the Subsidiary Loan Parties. 
  
 “Loans” shall mean all Revolving Loans, Swingline Loans and Competitive Bid Loans in the aggregate or any of them, as the context
shall require. 
  
 “Material Adverse
Effect” shall mean, with respect to any event, act, condition or occurrence of whatever nature (including any adverse determination in any litigation, arbitration, or governmental investigation or proceeding), whether singularly or in
conjunction with any other event or events, act or acts, condition or conditions, occurrence or occurrences whether or not related, a material adverse change in, or a material adverse effect on, (i) the business, results of operations, financial
condition, assets, liabilities or prospects of the Borrower or of the Borrower and its Subsidiaries taken as a whole, (ii) the ability of the Loan Parties to perform any of their respective obligations under the Loan Documents, (iii) the rights and
remedies of the Administrative Agent, the Issuing Bank, Swingline Lender and the Lenders under any of the Loan Documents or (iv) the legality, validity or enforceability of any of the Loan Documents. 
  
 “Material Indebtedness” shall mean the Private
Placement Notes and any other Indebtedness (other than the Loans and Letters of Credit) and Hedging Obligations, of any one or all of the Loan Parties and their Subsidiaries, individually or in an aggregate principal amount exceeding $5,000,000. For
purposes of determining the amount of attributed Indebtedness from Hedging Obligations, the “principal amount” of any Hedging Obligations at any time shall be the Net Mark-to-Market Exposure of such Hedging Obligations. 
  
 “Material Subsidiary” shall mean at any time any
direct or indirect Subsidiary of the Borrower (i) having or acquiring total assets in excess of $10,000,000 or (ii) that accounted for or produced more than 5% of the Consolidated EBITR of the Borrower and its Subsidiaries determined on a
consolidated basis during any of the three most recently completed Fiscal Years; provided, however, that the term “Material Subsidiary” shall be deemed to exclude any Securitization Subsidiary.  
  

 14 

 “Moody’s” shall mean Moody’s Investors Service, Inc. 
  
 “Multiemployer Plan” shall have the meaning set forth
in Section 4001(a)(3) of ERISA. 
  
 “Net Mark-to-Market
Exposure” of any Person shall mean, as of any date of determination with respect to any Hedging Obligation, the excess (if any) of all unrealized losses over all unrealized profits of such Person arising from such Hedging Obligation.
“Unrealized losses” shall mean the fair market value of the cost to such Person of replacing the Hedging Transaction giving rise to such Hedging Obligation as of the date of determination (assuming the Hedging Transaction were to be
terminated as of that date), and “unrealized profits” means the fair market value of the gain to such Person of replacing such Hedging Transaction as of the date of determination (assuming such Hedging Transaction were to be terminated as
of that date). 
  
 “Notes” shall mean,
collectively, the Revolving Credit Notes, the Competitive Bid Notes and the Swingline Note. 
  
 “Notice of Conversion/Continuation” shall have the meaning set forth in Section 2.9(b). 
  
 “Notice of Revolving Borrowing” shall have the meaning set forth in Section 2.3. 
  
 “Notice of Swingline Loan”shall have the
meaning set forth in Section 2.6. 
  
 “Notices
of Borrowing” shall mean, collectively, the Notices of Revolving Borrowing, the Competitive Bid Requests, and the Notices of Swingline Loan. 
  
 “Obligations” shall mean all amounts owing by the Borrower to the Administrative Agent, the Issuing Bank or any Lender (including
the Swingline Lender) pursuant to or in connection with this Agreement or any other Loan Document, including without limitation, all principal, interest (including any interest accruing after the filing of any petition in bankruptcy or the
commencement of any insolvency, reorganization or like proceeding relating to the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding), all reimbursement obligations, fees, expenses,
indemnification and reimbursement payments, costs and expenses (including all fees and expenses of counsel to the Administrative Agent, the Issuing Bank and any Lender (including the Swingline Lender) incurred pursuant to this Agreement or any other
Loan Document), whether direct or indirect, absolute or contingent, liquidated or unliquidated, now existing or hereafter arising hereunder or thereunder, and all Hedging Obligations owed to any Person who, at the time it entered into such agreement
in respect of such Hedging Obligations was, the Administrative Agent, any Lender or any of their Affiliates relating to Revolving Loans made hereunder, and all obligations and liabilities incurred in connection with collecting and enforcing the
foregoing, together with all renewals, extensions, modifications or refinancings thereof. 
  

 15 

 “Off-Balance Sheet Debt” of any Person shall mean (i) any repurchase obligation
or liability of such Person with respect to accounts or notes receivable sold by such Person, including without limitation with respect to a Securitization Transaction, (ii) any Synthetic Lease Obligation or (iii) any obligation arising with respect
to any other transaction which is the functional equivalent of or takes the place of borrowing but which does not constitute a liability on the balance sheet of such Person under GAAP, provided, however, that any liability of such
Person with respect to sale and leaseback transactions shall be excluded from this definition. 
  
 “OSHA” shall mean the Occupational Safety and Health Act of 1970, as amended from time to time, and any successor statute. 
  
 “Other Taxes” shall mean any and 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 from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document. 
  
 “Participant” shall have the meaning set forth in
Section 10.4(c). 
  
 “Payment
Office” shall mean the office of the Administrative Agent located at 303 Peachtree Street, N.E., Atlanta, Georgia 30308, or such other location as to which the Administrative Agent shall have given written notice to the Borrower and the
other Lenders. 
  
 “PBGC” shall mean the
Pension Benefit Guaranty Corporation referred to and defined in ERISA, and any successor entity performing similar functions. 
  
 “Permitted Encumbrances” shall mean: 
  
 (i) Liens imposed by law for taxes not yet due or which are being contested in good faith by appropriate proceedings and with respect to
which adequate reserves are being maintained in accordance with GAAP; 
  
 (ii) statutory Liens of landlords, carriers, warehousemen, mechanics, materialmen and similar Liens arising by operation of law in the ordinary course of business for amounts not yet due or which are being contested
in good faith by appropriate proceedings and with respect to which adequate reserves are being maintained in accordance with GAAP; 
  
 (iii) pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment insurance
and other social security laws or regulations; 
  
 (iv) deposits to secure the performance of bids, trade contracts, insurance contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of
business; 
  
 (v) judgment and attachment liens
not giving rise to an Event of Default or Liens created by or existing from any litigation or legal proceeding that are currently being contested in good faith by appropriate proceedings and with respect to which adequate reserves are being
maintained in accordance with GAAP; and 
  

 16 

 (vi) easements, zoning restrictions, rights-of-way and similar encumbrances on real
property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or materially interfere with the ordinary conduct of business of
the Borrower and its Subsidiaries taken as a whole; 
  
 provided, that the
term “Permitted Encumbrances” shall not include any Lien securing Indebtedness. 
  
 “Permitted Investments” shall mean: 
  
 (i) direct obligations of, or obligations the principal of and interest on which are unconditionally
guaranteed by, the United States (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States), in each case maturing within one year from the date of acquisition thereof; 
  
 (ii) commercial paper having a rating of at least A-1/P-2,
at the time of acquisition thereof, of S&P or Moody’s and in either case maturing within six months from the date of acquisition thereof; 
  
 (iii) certificates of deposit, bankers’ acceptances and time deposits maturing within 180 days of the date of acquisition thereof
issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial bank organized under the laws of the United States or any state thereof which has a combined capital and surplus
and undivided profits of not less than $500,000,000; 
  
 (iv) fully collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (i) above and entered into with a financial institution satisfying the criteria described in clause (iii) above; and

  
 (v) mutual funds investing primarily in any
one or more of the Permitted Investments described in clauses (i) through (iv) above. 
  
 “Permitted Subordinated Debt” shall mean any Indebtedness of the Borrower or any Subsidiary that is expressly subordinated to the Obligations and all guarantees thereof on terms and conditions
satisfactory to the Administrative Agent and the Required Lenders in all respects including, without limitation, with respect to interest rates, payment terms, maturities, amortization schedules, covenants, defaults, remedies and subordination
provisions, as evidenced by the written approval by the Administrative Agent and the Required Lenders. 
  
 “Person” shall mean any individual, partnership, firm, corporation, association, joint venture, limited liability company, trust
or other entity, or any Governmental Authority. 
  
 “Plan” shall mean any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code 
  

 17 

 or Section 302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were
terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 
  
 “Private Placement Notes” shall mean, collectively, the 8.27% Notes, the 2011 Notes, the 2012 Notes and the 2013 Notes.

  
 “Pro Rata Share” shall mean with
respect to any Revolving Commitment, Loans, other Revolving Credit Exposure, or any payments or prepayments related to the foregoing, of any Lender at any time, a percentage, the numerator of which shall be such Lender’s Commitment (or if such
Commitments have been terminated or expired or the Loans have been declared to be due and payable, such Lender’s Revolving Credit Exposure), and the denominator of which shall be the sum of such Commitments of all Lenders (or if such
Commitments have been terminated or expired or the Loans have been declared to be due and payable, the Revolving Credit Exposure of all Lenders). 
  
 “Regulation D” shall mean Regulation D of the Board of Governors of the Federal Reserve System, as the same may be in effect from
time to time, and any successor regulations. 
  
 “Regulation U” shall mean Regulation U of the Board of Governors of the Federal Reserve System, as the same may be in effect from time to time, and any successor regulations. 
  
 “Related Parties” shall mean, with respect to any
specified Person, such Person’s Affiliates and the respective directors, officers, employees, agents and advisors of such Person and such Person’s Affiliates. 
  
 “Release” shall mean any release, spill, emission, leaking, dumping, injection, pouring, deposit,
disposal, discharge, dispersal, leaching or migration into the environment (including ambient air, surface water, groundwater, land surface or subsurface strata) or within any building, structure, facility or fixture. 
  
 “Required Lenders” shall mean, at any time, Lenders
holding more than 50% of the aggregate outstanding Revolving Commitments at such time or if the Lenders have no Revolving Commitments outstanding, then Lenders holding more than 50% of the aggregate Revolving Credit Exposure and Competitive Bid
Loans of all Lenders. 
  
 “Requirement of
Law” for any Person shall mean the articles or certificate of incorporation, bylaws, partnership certificate and agreement, or limited liability company certificate of organization and agreement, as the case may be, and other
organizational and governing documents of such Person, and any law, treaty, rule or regulation, or determination of a 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. 
  
 “Responsible
Officer” shall mean any of the president, the chief executive officer, the chief operating officer, the chief financial officer, the treasurer or a vice president of the Borrower or such other representative of the Borrower as may be
designated in writing by any one of the foregoing with the consent of the Administrative Agent; and, with respect to the compliance certificate, the chief executive officer and the chief financial officer of the Borrower. 
  

 18 

 “Restricted Payment” shall have the meaning set forth in Section 7.5.

  
 “Revolving Commitment” shall mean,
with respect to each Lender, the obligation of such Lender to make Revolving Loans to the Borrower and to participate in Letters of Credit and Swingline Loans in an aggregate principal amount not exceeding the amount set forth with respect to such
Lender on Annex I, as such annex may be amended pursuant to Section 2.4 or through an assignment of an existing Revolving Commitment, the amount of the assigned “Revolving Commitment” as provided in the Assignment and
Acceptance executed by such Person as an assignee, as the same may be increased or deceased pursuant to terms hereof. 
  
 “Revolving Commitment Termination Date” shall mean the earliest of (i) June 14, 2009, (ii) the date on which the Revolving
Commitments are terminated pursuant to Section 2.10 or (iii) the date on which all amounts outstanding under this Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise). 
  
 “Revolving Credit Availability Period” shall mean the
period from the Closing Date to the Revolving Commitment Termination Date. 
  
 “Revolving Credit Exposure” shall mean, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Revolving Loans, LC Exposure and Swingline
Exposure. 
  
 “Revolving Credit Note”
shall mean a promissory note of the Borrower payable to the order of a requesting Lender in the principal amount of such Lender’s Revolving Commitment, in substantially the form of Exhibit A. 
  
 “Revolving Loan” shall mean a loan made by a Lender
(other than the Swingline Lender) to the Borrower under its Revolving Commitment, which may either be a Base Rate Loan or a Eurodollar Loan. 
  
 “S&P” shall mean Standard & Poor’s, a division of the McGraw-Hill Companies. 
  
 “Securitization Subsidiary” shall mean any Subsidiary
of the Borrower that is a special purpose entity formed for the purpose of acquiring accounts receivable and related rights from the Borrower or one or more of its other Subsidiaries. 
  
 “Securitization Transaction” shall mean any limited recourse or non-recourse sale, assignment or
contribution of accounts receivable and related rights of the Borrower or one or more of its Subsidiaries to any Securitization Subsidiary in connection with the issuance of Indebtedness by such Securitization Subsidiary secured by such assets, the
proceeds of which are to be made available, directly or indirectly, to the Borrower or such Subsidiaries. The “amount” or “principal amount” of any Securitization Transaction shall be deemed at any time to be the aggregate
principal or stated amount of the Indebtedness owing by such Securitization Subsidiary to any Person other than the Borrower or another Subsidiary. 
  

 19 

 “Subordinated Debt Documents” shall mean any indenture, agreement or similar
instrument governing any Permitted Subordinated Debt. 
  
 “Subsidiary” shall mean, with respect to any Person (the “parent”), any corporation, partnership, joint venture, limited liability company, association or other entity the accounts of which would be
consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, partnership, joint venture, limited
liability company, association or other entity (i) of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power, or in the case of a partnership, more than 50% of the general
partnership interests are, as of such date, owned, controlled or held, or (ii) that is, as of such date, otherwise controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent.
Unless otherwise indicated, all references to “Subsidiary” hereunder shall mean a Subsidiary of the Borrower. 
  
 “Subsidiary Guaranty Agreement” shall mean the Subsidiary Guaranty Agreement, dated as of the date hereof and substantially in the
form of Exhibit E, made by the Subsidiary Loan Parties in favor of the Administrative Agent for the benefit of the Lenders; provided, however, that at any time the Captive Insurance Company shall be required to become a party to the
Subsidiary Guaranty Agreement pursuant to Section 5.10, the Subsidiary Guaranty Agreement shall provide as to the Captive Insurance Company in no event or circumstance shall the Administrative Agent, any Lender or any other Guarantor be
entitled to recover from the Captive Insurance Company any amount that would cause the statutory assets of the Captive Insurance Company to fail to exceed its statutory liabilities by the greatest of (a) $120,000, (b) 20% of net premiums written up
to $6,000,000 plus 10% of net premiums written over $6,000,000 and (c) 10% of loss and other insurance reserves; provided, further, such limitations may be amended from time to time with the consent of the Administrative Agent, such
consent not to be unreasonably withheld, as required to comply with the insurance laws and regulations of Bermuda. 
  
 “Subsidiary Guaranty Supplement” shall mean each supplement substantially in the form of Annex I to the Subsidiary Guaranty
Agreement executed and delivered by a Subsidiary of the Borrower pursuant to Section 5.10. 
  
 “Subsidiary Loan Party” shall mean any Material Subsidiary and any other Subsidiary that guarantees the Obligations. 

 
 “Swingline Commitment” shall mean the commitment
of the Swingline Lender to make Swingline Loans in an aggregate principal amount at any time outstanding not to exceed $15,000,000. 
  
 “Swingline Exposure” shall mean, with respect to each Lender, the principal amount of the Swingline Loans in which such Lender is
legally obligated either to make a Base Rate Loan or to purchase a participation in accordance with Section 2.6, which shall equal such Lender’s Pro Rata Share of all outstanding Swingline Loans. 
  

 20 

 “Swingline Lender” shall mean SunTrust Bank. 
  
 “Swingline Loan” shall mean a loan made to the
Borrower by the Swingline Lender under the Swingline Commitment. 
  
 “Swingline Note” shall mean the promissory note of the Borrower payable to the order of the Swingline Lender in the principal amount of the Swingline Commitment, substantially the form of Exhibit C.

  
 “Swingline Rate” shall mean, for any
Interest Period agreed to by the Swingline Lender and the Borrower, the rate as offered by the Swingline Lender and accepted by the Borrower. The Borrower is under no obligation to accept this rate. 
  
 “Synthetic Lease” shall mean a lease transaction
under which the parties intend that (i) the lease will be treated as an “operating lease” by the lessee pursuant to Statement of Financial Accounting Standards No. 13, as amended and (ii) the lessee will be entitled to various tax and
other benefits ordinarily available to owners (as opposed to lessees) of like property. 
  
 “Synthetic Lease Obligations” shall mean, with respect to any Person, the sum of (i) all remaining rental obligations of such Person as lessee under Synthetic Leases which are attributable to
principal and, without duplication, and (ii) all rental and purchase price payment obligations of such Person under such Synthetic Leases assuming such Person exercises the option to purchase the lease property at the end of the lease term.

  
 “Taxes” shall mean any and all present
or future taxes, levies, imposts, duties, deductions, charges or withholdings imposed by any Governmental Authority. 
  
 “Type”, when used in reference to a Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans
comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Base Rate. 
  
 “Withdrawal Liability” shall mean liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such
Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
  
 Section 1.2. Classifications of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Class (e.g. a “Revolving Loan” or “Competitive Bid
Loan”) or by Type (e.g. a “Eurodollar Loan” or “Base Rate Loan”) or by Class and Type (e.g. “Revolving Eurodollar Loan”). Borrowings also may be classified and referred to by Class (e.g. “Revolving
Borrowing”) or by Type (e.g. “Eurodollar Borrowing”) or by Class and Type (e.g. “ Revolving Eurodollar Borrowing”). 
  
 Section 1.3. Accounting Terms and Determination. Unless otherwise defined or specified herein, all accounting terms used herein shall be
interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared, in accordance with GAAP as in effect from time to time, applied on a basis consistent with the
most recent audited consolidated financial statement of the Borrower delivered pursuant to Section 5.1(a); provided, that if the Borrower notifies the Administrative 
  

 21 

 Agent that the Borrower wishes to amend any covenant in Article VI to eliminate the effect of any change in GAAP on the
operation of such covenant (or if the Administrative Agent notifies the Borrower that the Required Lenders wish to amend Article VI for such purpose), then the Borrower’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 Borrower and the Required Lenders. 
  
 Section 1.4. Terms Generally. The definitions of terms
herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes”
and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. In the computation of periods of
time from a specified date to a later specified date, the word “from” means “from and including” and the word “to” means “to but excluding”. Unless the context requires otherwise (i) 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 it was originally executed or as it may from time to time be amended, restated, supplemented or
otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (ii) any reference herein to any Person shall be construed to include such Person’s successors and permitted assigns, (iii) the
words “hereof”, “herein” and “hereunder” and words of similar import shall be construed to refer to this Agreement as a whole and not to any particular provision hereof, (iv) all references to Articles, Sections,
Exhibits and Schedules shall be construed to refer to Articles, Sections, Exhibits and Schedules to this Agreement and (v) all references to a specific time shall be construed to refer to the time in the city and state of the Administrative
Agent’s principal office, unless otherwise indicated. 
  
 ARTICLE II 
  
 AMOUNT AND TERMS OF THE
COMMITMENTS 
  
 Section 2.1. General Description of
Facilities. Subject to and upon the terms and conditions herein set forth, (i) the Lenders hereby establish in favor of the Borrower a revolving credit facility pursuant to which each Lender severally agrees (to the extent of such
Lender’s Revolving Commitment) to make Revolving Loans to the Borrower in accordance with Section 2.2 and to offer in its sole discretion to make Competitive Bid Loans in accordance with Section 2.7, (ii) the Issuing Bank agrees
to issue Letters of Credit in accordance with Section 2.23, (iii) the Swingline Lender agrees to make Swingline Loans in accordance with Section 2.5 and (iv) each Lender agrees to purchase a participation interest in the Letters
of Credit and the Swingline Loans pursuant to the terms and conditions hereof; provided, that in no event shall the aggregate principal amount of all outstanding Revolving Loans, Competitive Bid Loans, Swingline Loans and outstanding LC
Exposure exceed at any time the Aggregate Revolving Commitment Amount from time to time in effect. 
  
 Section 2.2. Revolving Loans. Subject to the terms and conditions set forth herein, each Lender severally agrees to make Revolving Loans,
ratably in proportion to its Pro 
  

 22 

 Rata Share, to the Borrower, from time to time during the Availability Period, in an aggregate principal amount
outstanding at any time that will not result in (a) such Lender’s Revolving Credit Exposure exceeding such Lender’s Revolving Commitment or (b) the sum of the aggregate Revolving Credit Exposures of all Lenders plus the aggregate principal
amount of all Competitive Bid Loans exceeding the Aggregate Revolving Commitment Amount. During the Availability Period, the Borrower shall be entitled to borrow, prepay and reborrow Revolving Loans in accordance with the terms and conditions of
this Agreement; provided, that the Borrower may not borrow or reborrow should there exist a Default or Event of Default. 
  
 Section 2.3. Procedure for Revolving Borrowings. 
  

The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing
substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Atlanta, Georgia time) one (1) Business Day prior to the requested date of each Base Rate Borrowing and (y)
prior to 11:00 a.m. (Atlanta, Georgia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such
Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such Revolving Loan comprising such Borrowing and (iv) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable
thereto (subject to the provisions of the definition of Interest Period). Each Revolving Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower may request. The aggregate principal amount of each Eurodollar
Borrowing shall be not less than $5,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $1,000,000 or a larger multiple of $100,000; provided, that Base Rate Loans
made pursuant to Section 2.5 or Section 2.23(c) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings and Competitive Bid Loans outstanding at any time exceed ten. Promptly
following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender’s Revolving Loan to be made as part of the requested
Revolving Borrowing. 
  
 Section 2.4. Increase of
Commitments; Additional Lenders. 
  
 (a) So long as no
Event of Default has occurred and is continuing, from time to time after the Closing Date, Borrower may, upon at least 30 days’ written notice to the Administrative Agent, who shall promptly notify the Lenders, propose to increase the Aggregate
Revolving Commitment Amount up to an amount not to exceed $650,000,000 (the amount of any such increase, the “Additional Commitment Amount”). Each Lender shall have the right for a period of 15 days following receipt of such notice,
to elect by written notice to the Borrower and the Administrative Agent to increase its Revolving Commitment by a principal amount equal to its Pro Rata Share of the Additional Commitment Amount. In the event that the aggregate amount to which the
Lenders are willing to increase the Revolving Commitments is less than the Additional Commitment Amount based on the written notices delivered by the Lenders to the Administrative Agent, the Administrative Agent shall offer to the Lenders who have
agreed to increase their Revolving Commitments the opportunity to further increase their Revolving Commitments up to an amount equal to the Additional Commitment Amount. Each such Lender 
  

 23 

 shall promptly respond in writing to the Administrative Agent of whether it will agree to further increase its Revolving
Commitment and by what amount it will agree to further increase its Revolving Commitment. Within five (5) Business Days after receipt of all responses from such Lenders, the Administrative Agent shall inform the Borrower and all Lenders in writing
of the amount by which each Lender will increase its Revolving Commitment. No Lender (or any successor thereto) shall have any obligation to increase its Revolving Commitment or its other obligations under this Agreement and the other Loan
Documents, and any decision by a Lender to increase its Revolving Commitment shall be made in its sole discretion independently from any other Lender. Decisions to increase a Revolving Loan Commitment must be affirmatively communicated in writing
and shall not be presumed based upon a failure to respond to Borrower’s request. 
  
 (b) If the existing Lenders do not elect to increase the Aggregate Revolving Commitment Amount by the Additional Commitment Amount pursuant to subsection (a) of this Section, the Borrower shall have the right, within
sixty days (60) after receipt of such notice from the Administrative Agent, to obtain additional Revolving Commitments from one or more other banks or financial institutions (each, an “Additional Lender”) to the extent necessary to
increase the Aggregate Revolving Commitment Amount by the Additional Commitment Amount; provided, however, that each Additional Lender must (i) be acceptable to the Administrative Agent and (ii) become a party to this Agreement
pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent. The sum of the increases in the Revolving Commitments of the existing Lenders pursuant to subsection (a) plus the Revolving Commitments of the Additional
Lenders shall not in the aggregate exceed the Additional Commitment Amount. 
  
 (c) An increase in the aggregate amount of the Revolving Commitments pursuant to this Section 2.4 shall become effective upon the receipt by the Administrative Agent of an agreement in form and substance
satisfactory to the Administrative Agent signed by the Borrower, by each Additional Lender and by each other Lender whose Revolving Commitment is to be increased, setting forth the new Revolving Commitments of such Lenders and setting forth the
agreement of each Additional Lender to become a party to this Agreement and to be bound by all the terms and provisions hereof, together with such evidence of appropriate corporate authorization on the part of the Borrower with respect to the
increase in the Revolving Commitments and such opinions of counsel for the Borrower with respect to the increase in the Revolving Commitments as the Administrative Agent may reasonably request. Upon the acceptance of any such agreement by the
Administrative Agent, the Aggregate Revolving Commitment Amount shall automatically be increased by the amount of the Revolving Commitments added through such agreement and Annex I shall automatically be deemed amended to reflect the
Revolving Commitments of all Lenders after giving effect to the addition of such Revolving Commitments. 
  
 (d) Upon any increase in the aggregate amount of the Revolving Commitments pursuant to this Section 2.4 that is not pro rata among all Lenders, (x)
within five Business Days, in the case of any Base Rate Loans then outstanding, and at the end of the then current Interest Period with respect thereto, in the case of any Eurodollar Loans then outstanding, the Borrower shall prepay such Loans in
their entirety and, to the extent the Borrower elects to do so and subject to the conditions specified in Article III, the Borrower shall reborrow Loans from the 
  

 24 

 Lenders in proportion to their respective Revolving Commitments after giving effect to such increase, until such time as
all outstanding Loans are held by the Lenders in such proportion and (y) effective upon such increase, the amount of the participations held by each Lender in each Letter of Credit then outstanding shall be deemed adjusted such that, after giving
effect to such adjustments, the Lenders shall hold participations in each such Letter of Credit in the proportion its respective Revolving Commitment bears to the aggregate Revolving Commitments after giving effect to such increase. 
  
 Section 2.5. Swingline Commitment. Subject to the terms and
conditions set forth herein, the Swingline Lender agrees to make Swingline Loans to the Borrower, from time to time during the Availability Period, in an aggregate principal amount outstanding at any time not to exceed the lesser of (i) the
Swingline Commitment then in effect and (ii) the difference between the Aggregate Revolving Commitment Amount and the sum of (x) the aggregate Revolving Credit Exposures of all Lenders and (y) the outstanding Competitive Bid Loans; provided,
that the Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan. The Borrower shall be entitled to borrow, repay and reborrow Swingline Loans in accordance with the terms and conditions of this
Agreement. 
  
 Section 2.6. Procedure for Swingline Loan;
Etc. (a) The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Swingline Loan substantially in the form of Exhibit 2.6 attached hereto (“Notice of
Swingline Loan”) prior to 2:00 p.m. (Atlanta, Georgia time) on the requested date of each Swingline Loan. Each Notice of Swingline Loan shall be irrevocable and shall specify: (i) the principal amount of such Swingline Loan, (ii) the date
of such Swingline Loan (which shall be a Business Day) and (iii) the account of the Borrower to which the proceeds of such Swingline Loan should be credited. The Administrative Agent will promptly advise the Swingline Lender of each Notice of
Swingline Loan. Each Swingline Loan shall accrue interest at the Base Rate or any other interest rate as agreed between the Borrower and the Swingline Lender and shall have an interest period as agreed between the Borrower and the Swingline Lender.
The aggregate principal amount of each Swingline Loan shall be not less than $100,000 or a larger multiple of $50,000, or such other minimum amounts agreed to by the Swingline Lender and the Borrower. The Swingline Lender will make the proceeds of
each Swingline Loan available to the Borrower in Dollars in immediately available funds at the account specified by the Borrower in the applicable Notice of Swingline Loan not later than 4:00 p.m. (Atlanta, Georgia time) on the requested date of
such Swingline Loan. 
  
 (b) The Swingline Lender, at any time and
from time to time in its sole discretion, may, on behalf of the Borrower (which hereby irrevocably authorizes and directs the Swingline Lender to act on its behalf), give a Notice of Revolving Borrowing to the Administrative Agent (with a copy to
the Borrower) requesting the Lenders (including the Swingline Lender) to make Base Rate Loans in an amount equal to the unpaid principal amount of any Swingline Loan. Each Lender will make the proceeds of its Base Rate Loan included in such
Borrowing available to the Administrative Agent for the account of the Swingline Lender in accordance with Section 2.8, which will be used solely for the repayment of such Swingline Loan. 
  

 25 

 (c) If for any reason a Base Rate Borrowing may not be (as determined in the sole discretion of the
Administrative Agent), or is not, made in accordance with the foregoing provisions, then each Lender (other than the Swingline Lender) shall purchase an undivided participating interest in such Swingline Loan in an amount equal to its Pro Rata Share
thereof on the date that such Base Rate Borrowing should have occurred. On the date of such required purchase, each Lender shall promptly transfer, in immediately available funds, the amount of its participating interest to the Administrative Agent
for the account of the Swingline Lender. If such Swingline Loan bears interest at a rate other than the Base Rate, such Swingline Loan shall automatically become a Base Rate Loan on the effective date of any such participation and interest shall
become payable on demand. 
  
 (d) Each Lender’s obligation to
make a Base Rate Loan pursuant to Section 2.6(b) or to purchase the participating interests pursuant to Section 2.6(c) shall be absolute and unconditional and shall not be affected by any circumstance, including without
limitation (i) any setoff, counterclaim, recoupment, defense or other right that such Lender or any other Person may have or claim against the Swingline Lender, the Borrower or any other Person for any reason whatsoever, (ii) the existence of a
Default or an Event of Default or the termination of any Lender’s Revolving Commitment, (iii) the existence (or alleged existence) of any event or condition which has had or could reasonably be expected to have a Material Adverse Effect, (iv)
any breach of this Agreement or any other Loan Document by the Borrower, the Administrative Agent or any Lender or (v) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If such amount is not in
fact made available to the Swingline Lender by any Lender, the Swingline Lender shall be entitled to recover such amount on demand from such Lender, together with accrued interest thereon for each day from the date of demand thereof (i) at the
Federal Funds Rate until the second Business Day after such demand and (ii) at the Base Rate at all times thereafter. Until such time as such Lender makes its required payment, the Swingline Lender shall be deemed to continue to have outstanding
Swingline Loans in the amount of the unpaid participation for all purposes of the Loan Documents. In addition, such Lender shall be deemed to have assigned any and all payments made of principal and interest on its Loans and any other amounts due to
it hereunder, to the Swingline Lender to fund the amount of such Lender’s participation interest in such Swingline Loans that such Lender failed to fund pursuant to this Section, until such amount has been purchased in full. 
  
 Section 2.7. Competitive Bid Borrowings. 
  
 (a) Competitive Bid Option. Subject to the terms and conditions set
forth herein, from time to time during the Availability Period, the Borrower may request the Lenders to submit Competitive Bids. Each Lender may, but shall have no obligation to, make such Competitive Bids, and the Borrower may, but shall have no
obligation to, accept any such Competitive Bids. At no time shall the number of Competitive Bid Borrowings outstanding under this Section 2.7, together with all Eurodollar Borrowings exceed ten in any case. At no time shall (i) the sum of the
aggregate principal amount of outstanding Competitive Bid Loans plus the aggregate Revolving Credit Exposures of all Lenders exceed the Aggregate Revolving Commitment Amount and (ii) the aggregate principal amount of outstanding Competitive
Bid Loans exceed the Competitive Bid Loan Limit. A Lender’s Competitive Bid Loans shall not be deemed to constitute usage of such Lender’s Revolving Commitment, and such Lender shall remain obligated to fund its Pro Rata Share of
Revolving Loans and to purchase participations in the LC Exposure and Swingline Exposure. 
  

 26 

 (b) Competitive Bid Requests. The Borrower may request Competitive Bids by delivering a duly
completed Competitive Bid Request to the Administrative Agent in writing (or by telephone, immediately confirmed in writing). Each Competitive Bid Request shall specify (i) the proposed date of such Borrowing (which shall be a Business Day), (ii)
the aggregate amount of such Borrowing, and (iii) the duration of the Interest Period or Interest Periods applicable thereto, and shall otherwise comply with notice requirements of each respective Lender, which shall be communicated by Lenders to
the Administrative Agent and the Borrower from time to time. A Competitive Bid Request which does not conform substantially to the form of Exhibit 2.7-A may be rejected by the Administrative Agent in its sole discretion, and the
Administrative Agent shall promptly notify the Borrower of such rejection by telecopy. Promptly after its receipt of a Competitive Bid Request which is not rejected, the Administrative Agent shall promptly notify each Lender the details
thereof by telecopy, inviting the Lenders to submit Competitive Bids, in a notice substantially similar to the form of Exhibit 2.7-B. 
  
 (c) Competitive Bids. 
  
 (i) Each Lender may, but shall have no obligation to, submit one or more Competitive Bids, each containing an irrevocable offer to make a Competitive Bid
Loan in response to a Competitive Bid Request; provided, that if the Borrower’s Competitive Bid Request specified more than one Interest Period, such Lender may make a single submission containing a separate offer for each Interest
Period and each such separate offer shall be deemed to be a separate Competitive Bid. Each Competitive Bid by a Lender must be received by the Borrower directly by telecopy not later than 11:30 a.m. (Atlanta, Georgia time) on the proposed date of
Borrowing. 
  
 (ii) Each Competitive Bid shall specify (A) the
principal amount of each Competitive Bid Loan, the Interest Period applicable thereto and the aggregate principal amount of all Competitive Bid Loans for all Interest Periods (which principal amount may be greater than the Revolving Commitment of
such Lender but which may not exceed the aggregate principal amount of Competitive Bid Loans for each Interest Period for which Competitive Bid Requests were requested) and (B) the Competitive Bid Rate or Rates at which such Lender is prepared to
make such Loan or Loans (expressed as a percentage rate per annum in the form of a decimal to no more than four decimal places). Competitive Bids that do not conform substantially to Exhibit 2.7-C may be rejected by the Borrower, and the
Borrower shall notify the applicable Lender as promptly as possible. 
  
 (iii) No Competitive Bid shall contain qualifying, conditional or similar language or propose terms other than or in addition to those set forth in the applicable Competitive Bid Request, and in particular, no
Competitive Bid may be conditioned upon the acceptance by the Borrower of all (or some specified minimum) of the principal amount of the Competitive Bid Loan for which the Competitive Bid was made. 
  
 (d) Acceptance by Borrower. The Borrower may accept or reject any
Competitive Bid; provided, that (i) the aggregate amount of the Competitive Bids accepted by 
  

 27 

 the Borrower shall not exceed the aggregate amount of the requested Competitive Bid Borrowing specified in the related
Competitive Bid Request, and (ii) the aggregate amount of all Competitive Bid Loans, after giving effect to the loans to be made after such Competitive Bids are accepted, (A) would not exceed the Competitive Bid Loan Limit, and (B) together with all
Revolving Credit Exposure outstanding at such time would not exceed the Aggregate Revolving Commitment Amount. 
  
 (e) The Borrower shall promptly notify by telecopy each Lender that made a Competitive Bid (with a copy to the Agent) whether its Competitive Bid was
accepted (and if so, the amount and the duration of the Interest Period or Periods so accepted), and shall promptly notify the Administrative Agent of the amounts of the Competitive Bids accepted, not later than 1:30 p.m. (Atlanta, Georgia time) on
the date of the proposed Competitive Bid Borrowing. 
  
 (f) Upon
receipt of notice from the Borrower described in clause (e) above, each successful bidding Lender will thereupon become bound, subject to the terms and conditions hereof, to make the Competitive Bid Loan in respect of which its Competitive Bid was
accepted. Each such Lender shall, not later than 2:30 p.m. (Atlanta, Georgia time) on the date specified for the making of such Competitive Bid Loan, make the amount of such Loan available to the Borrower in immediately available funds in U.S.
Dollars at the account specified by the Borrower. 
  
 Section
2.8. Funding of Borrowings. 
  
 (a) Each Lender will
make available each Loan to be made by it hereunder on the proposed date thereof by wire transfer in immediately available funds in U.S. Dollars by 11:00 a.m. (Atlanta, Georgia time) to the Administrative Agent at the Payment Office;
provided, that the Swingline Loans will be made as set forth in Section 2.6. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts that it receives, in like funds by the close of
business on such proposed date, to an account maintained by the Borrower with the Administrative Agent or at the Borrower’s option, by effecting a wire transfer of such amounts to an account designated by the Borrower to the Administrative
Agent. 
  
 (b) Unless the Administrative Agent shall have been
notified by any Lender prior to 5:00 p.m. (Atlanta, Georgia time) one (1) Business Day prior to the date of a Borrowing in which such Lender is to participate that such Lender will not make available to the Administrative Agent such Lender’s
share of such Borrowing, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such date, and the Administrative Agent, in reliance on such assumption, may make available to the Borrower
on such date a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender on the date of such Borrowing, the Administrative Agent shall be entitled to recover such corresponding amount
on demand from such Lender together with interest at the Federal Funds Rate until the second Business Day after such demand and thereafter at the Base Rate. If such Lender does not pay such corresponding amount forthwith upon the Administrative
Agent’s demand therefor, the Administrative Agent shall promptly notify the Borrower, and the Borrower shall immediately pay such corresponding amount to the Administrative Agent together with interest at the rate specified for such Borrowing.
Nothing in this subsection shall be deemed to relieve any Lender from its obligation to fund its Pro Rata Share of any Borrowing hereunder or to prejudice any rights which the Borrower may have against any Lender as a result of any default by such
Lender hereunder. 
  

 28 

 (c) All Revolving Borrowings shall be made by the Lenders on the basis of their respective Pro Rata
Shares. All Competitive Bid Borrowings shall be made severally by the Lenders whose Competitive Bids were accepted by the Borrower. No Lender shall be responsible for any default by any other Lender in its obligations hereunder, and each Lender
shall be obligated to make its Revolving Loans provided to be made by it hereunder, regardless of the failure of any other Lender to make its Loans hereunder. 
  

Section 2.9. Interest Elections. 
  
 (a) Each Borrowing initially shall be of the Type specified in the applicable Notice of Borrowing, and in the case of a Eurodollar Borrowing, shall have
an initial Interest Period as specified in such Notice of Borrowing. Thereafter, the Borrower may elect to convert such Borrowing into a different Type or to continue such Borrowing, and in the case of a Eurodollar Borrowing, may elect Interest
Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding Loans
comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall NOT apply to Competitive Bid Borrowings or Swingline Loans, which may not be converted or continued. 
  
 (b) To make an election pursuant to this Section, the Borrower shall give the
Administrative Agent prior written notice (or telephonic notice promptly confirmed in writing) of each Borrowing substantially in the form of Exhibit 2.9 attached hereto (a “Notice of Conversion/Continuation”) that is to be
converted or continued, as the case may be, (x) prior to 11:00 a.m. (Atlanta, Georgia time) one (1) Business Day prior to the requested date of a conversion into a Base Rate Borrowing and (y) prior to 11:00 a.m. (Atlanta, Georgia time) three (3)
Business Days prior to a continuation of or conversion into a Eurodollar Borrowing. Each such Notice of Conversion/Continuation shall be irrevocable and shall specify (i) the Borrowing to which such Notice of Conversion/Continuation applies and if
different options are being elected with respect to different portions thereof, the portions thereof that are to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) shall be
specified for each resulting Borrowing); (ii) the effective date of the election made pursuant to such Notice of Conversion/Continuation, which shall be a Business Day, (iii) whether the resulting Borrowing is to be a Base Rate Borrowing or a
Eurodollar Borrowing; and (iv) if the resulting Borrowing is to be a Eurodollar Borrowing, the Interest Period applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of “Interest
Period”. If any such Notice of Conversion/Continuation requests a Eurodollar Borrowing but does not specify an Interest Period, the Borrower shall be deemed to have selected an Interest Period of one month. The principal amount of any resulting
Borrowing shall satisfy the minimum borrowing amount for Eurodollar Borrowings and Base Rate Borrowings set forth in Section 2.3. At no time shall the total number of Eurodollar Borrowings outstanding together with the total number of
Competitive Bid Borrowings outstanding, at any time exceed ten. 
  

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 (c) If, on the expiration of any Interest Period in respect of any Eurodollar Borrowing, the Borrower
shall have failed to deliver a Notice of Conversion/ Continuation, then, unless such Borrowing is repaid as provided herein, the Borrower shall be deemed to have elected to convert such Borrowing to a Base Rate Borrowing. No Borrowing may be
converted into, or continued as, a Eurodollar Borrowing if a Default or an Event of Default exists, unless the Administrative Agent and each of the Lenders shall have otherwise consented in writing. No conversion of any Eurodollar Loans shall be
permitted except on the last day of the Interest Period in respect thereof.  
  
 (d) Upon receipt of any Notice of Conversion/Continuation, the Administrative Agent shall promptly notify each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 

 
 Section 2.10. Optional Reduction and Termination of Commitments.

  
 (a) Unless previously terminated, all Revolving
Commitments (including the LC Commitment and the Swingline Commitment) shall terminate on the Revolving Commitment Termination Date. 
  
 (b) Upon at least three (3) Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent
(which notice shall be irrevocable), the Borrower may reduce the Aggregate Revolving Commitments in part or terminate the Aggregate Revolving Commitments in whole; provided, that (i) any partial reduction shall apply to reduce proportionately
and permanently the Revolving Commitment of each Lender, (ii) any partial reduction pursuant to this Section 2.10 shall be in an amount of at least $5,000,000 and any larger multiple of $1,000,000, and (iii) no such reduction shall be
permitted which would reduce the Aggregate Revolving Commitment Amount to an amount less than the outstanding Revolving Credit Exposures of all Lenders plus the outstanding principal amount of all Competitive Bid Loans. Any such reduction in
the Aggregate Revolving Commitment Amount below the aggregate principal amount of the Swingline Commitment and the LC Commitment shall result in a reduction (rounded to the next lowest integral multiple of $100,000) in the Swingline Commitment and
the LC Commitment, proportionate to the unused portion of each such Commitment. 
  
 Section 2.11. Repayment of Loans. 
  
 (a) The outstanding principal amount of all Revolving Loans shall be due and payable (together with accrued and unpaid interest thereon) on the Revolving Commitment Termination Date. 
  
 (b) The principal amount of each Competitive Bid Borrowing shall be due and
payable (together with accrued and unpaid interest thereon) on the earlier of (i) the last day of the Interest Period applicable to such Borrowing and (ii) the Revolving Commitment Termination Date. 
  
 (c) The principal amount of each Swingline Loan shall be due and payable
(together with accrued interest thereon) on the earlier of (i) the last day of the interest period applicable to such Borrowing and (ii) the Revolving Commitment Termination Date.  
  

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 Section 2.12. Evidence of Indebtedness. (a) Each Lender shall maintain in accordance with
its usual practice appropriate records evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender from time to time, including the amounts of principal and interest payable thereon and paid to such Lender
from time to time under this Agreement. The Administrative Agent shall maintain appropriate records in which shall be recorded (i) the Revolving Commitment of each Lender, (ii) the amount of each Loan made hereunder by each Lender, the Class and
Type thereof and the Interest Period applicable thereto, (iii) the date of each continuation thereof pursuant to Section 2.9, (iv) the date of each conversion of all or a portion thereof to another Type pursuant to Section 2.9, (v) the
date and amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder in respect of such Loans and (vi) both the date and amount of any sum received by the Administrative Agent hereunder
from the Borrower in respect of the Loans and each Lender’s Pro Rata Share thereof. The entries made in such records shall be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded;
provided, that the failure or delay of any Lender or the Administrative Agent in maintaining or making entries into any such record or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans (both
principal and unpaid accrued interest) of such Lender in accordance with the terms of this Agreement. 
  
 (a) At the request of any Lender (including the Swingline Lender) at any time, the Borrower agrees that it will execute and deliver to such Lender a
Revolving Credit Note, and/or a Competitive Bid Note and, in the case of the Swingline Lender only, a Swingline Note, payable to the order of such Lender. 
  
 Section 2.13. Optional Prepayments. 
  
 (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing, in whole or in part, without premium or penalty, by
giving irrevocable written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent no later than (i) in the case of prepayment of any Eurodollar Borrowing, 11:00 a.m. (Atlanta, Georgia time) not less than three (3)
Business Days prior to any such prepayment, (ii) in the case of any prepayment of any Base Rate Borrowing, not less than one Business Day prior to the date of such prepayment, and (iii) in the case of Swingline Loans, prior to 11:00 a. m. on the
date of such prepayment. Each such notice shall be irrevocable and shall specify the proposed date of such prepayment and the principal amount of each Borrowing or portion thereof to be prepaid. Upon receipt of any such notice, the Administrative
Agent shall promptly notify each affected Lender of the contents thereof and of such Lender’s Pro Rata Share of any such prepayment. If such notice is given, the aggregate amount specified in such notice shall be due and payable on the date
designated in such notice, together with accrued interest to such date on the amount so prepaid in accordance with Section 2.14(e); provided, that if a Eurodollar Borrowing is prepaid on a date other than the last day of an
Interest Period applicable thereto, the Borrower shall also pay all amounts required pursuant to Section 2.20. Each partial prepayment of any Loan (other than a Swingline Loan) shall be in an amount that would be permitted in the case of an
advance of a Revolving Borrowing of the same Type pursuant to Section 2.3 or in the case of a Swingline Loan pursuant to Section 2.6. Each prepayment of a Borrowing shall be applied ratably to the Loans comprising such
Borrowing. 
  

 31 

 (b) The Borrower may not prepay any Competitive Bid Loan except with the prior written consent of the
affected Lender. 
  
 Section 2.14. Interest on Loans.

  
 (a) The Borrower shall pay interest on each Base Rate
Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.

  
 (b) The Borrower shall pay interest on each Competitive Bid
Eurodollar Loan at the Competitive Bid Rate quoted by the Lender making such Loan pursuant to Section 2.7(c) and accepted by the Borrower pursuant to Section 2.7(d). 
  
 (c) The Borrower shall pay interest on each Swingline Loan at the Swingline
Rate in effect from time to time. 
  
 (d) Notwithstanding clause
(a) and (b) above, while an Event of Default exists or after acceleration, at the option of the Required Lenders, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans and Competitive Bid Loans at
the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all
other Obligations hereunder (other than Loans and LC Exposure), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum. 
  
 (e) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment
thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each Fiscal Quarter and on the Revolving Commitment Termination Date, as the case may be. Interest on all outstanding Eurodollar Loans
shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months or 90 days, respectively, on each day which occurs every three months or 90
days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the
Interest Period applicable thereto, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of
any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand. 
  
 (f) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders
of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error. 
  

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 Section 2.15. Fees. 
  
 (a) The Borrower shall pay to the Administrative Agent for its own account fees in the amounts and at the times previously
agreed upon in writing by the Borrower and the Administrative Agent. 
  
 (b) The Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment fee, which shall accrue at the Applicable Percentage per annum (determined daily in accordance with Schedule I) on the daily amount of
the unused Revolving Commitment of such Lender during the Availability Period. For purposes of computing commitment fees with respect to the Revolving Commitments, the Revolving Commitment of each Lender shall be deemed used to the extent of the
outstanding Revolving Loans and LC Exposure, but not Swingline Exposure or Competitive Bid Loans, of such Lender. 
  
 (c) The Borrower agrees to pay (i) to the Administrative Agent, for the account of each Lender, a letter of credit fee with respect to its participation
in each Letter of Credit, which shall accrue at a rate per annum equal to the Applicable Margin for Eurodollar Loans then in effect on the average daily amount of such Lender’s LC Exposure attributable to each Letter of Credit during the period
from and including the date of issuance of such Letter of Credit to but excluding the date on which such Letter of Credit expires or is drawn in full (including without limitation any LC Exposure that remains outstanding after the Revolving
Commitment Termination Date) and (ii) to the Issuing Bank for its own account a fronting fee, which shall accrue at the rate of 0.125% per annum on the average daily amount of the LC Exposure during the Availability Period (or until the date that
such Letter of Credit is irrevocably cancelled, whichever is later), as well as the Issuing Bank’s standard fees with respect to issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder.
Notwithstanding the foregoing, if the Required Lenders elect to increase interest on the Loans to the Default Interest pursuant to Section 2.14(d), the letter of credit fees payable pursuant to clause (i) above shall automatically be
increased by an additional 2% per annum. 
  
 (d) The Borrower
shall pay to the Administrative Agent, for the ratable benefit of each Lender, the upfront fee previously agreed upon by the Borrower and the Administrative Agent, which shall be due and payable on the Closing Date. 
  
 (e) Accrued fees (other than the upfront fee referenced in paragraph (d))
shall be payable quarterly in arrears on the last day of each Fiscal Quarter and on the Revolving Commitment Termination Date (and if later, the date the Loans and LC Exposure shall be repaid in their entirety); provided further, that any
such fees accruing after the Revolving Commitment Termination Date shall be payable on demand. Fees for the Fiscal Quarter ending July 30, 2004 shall apply only for the period from the date hereof through the end of such Fiscal Quarter. 

 
 Section 2.16. Computation of Interest and Fees. 

 
 All computations of interest and fees hereunder shall be made on the
basis of a year of 360 days for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest or fees are payable (to the extent computed on the basis of days elapsed). Each
determination by the Administrative Agent of an interest amount or fee hereunder shall be made in good faith and, except for manifest error, shall be final, conclusive and binding for all purposes. 
  

 33 

 Section 2.17. Inability to Determine Interest Rates. If prior to the commencement of any
Interest Period for any Eurodollar Borrowing, 
  
 (i) the Administrative Agent shall have determined (which determination shall be conclusive and binding upon the Borrower) that, by reason of circumstances affecting the relevant interbank market, adequate means do not exist for
ascertaining LIBOR for such Interest Period, or 
  
 (ii) the Administrative Agent shall have received notice from the Required Lenders that the Adjusted LIBO Rate does not adequately and fairly reflect the cost to such Lenders (or Lender, as the case may be) of making, funding or maintaining
their (or its, as the case may be) Eurodollar Loans for such Interest Period, 
  
 the Administrative Agent shall give written notice (or telephonic notice, promptly confirmed in writing) to the Borrower and to the Lenders as soon as practicable thereafter. Until the Administrative Agent shall notify the Borrower and the
Lenders that the circumstances giving rise to such notice no longer exist, (i) the obligations of the Lenders to make Eurodollar Revolving Loans or to continue or convert outstanding Loans as or into Eurodollar Loans shall be suspended and (ii) all
such affected Loans shall be converted into Base Rate Loans on the last day of the then current Interest Period applicable thereto unless the Borrower prepays such Loans in accordance with this Agreement. Unless the Borrower notifies the
Administrative Agent at least one Business Day before the date of any Eurodollar Revolving Borrowing for which a Notice of Revolving Borrowing has previously been given that it elects not to borrow on such date, then such Revolving Borrowing shall
be made as a Base Rate Borrowing.  
  
 Section 2.18.
Illegality. If any Change in Law shall make it unlawful or impossible for any Lender to make, maintain or fund any Eurodollar Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall promptly give
notice thereof to the Borrower and the other Lenders, whereupon until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make
Eurodollar Revolving Loans, or to continue or convert outstanding Loans as or into Eurodollar Loans, shall be suspended. In the case of the making of a Eurodollar Revolving Borrowing, such Lender’s Revolving Loan shall be made as a Base Rate
Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Loan shall be converted to a Base Rate Loan either (i) on the last day of the then current Interest Period
applicable to such Eurodollar Loan if such Lender may lawfully continue to maintain such Loan to such date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain such Eurodollar Loan to such date.
Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such
designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion. 
  

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 Section 2.19. Increased Costs. 
  
 (a) If any Change in Law shall: 
  
 (i) impose, modify or deem applicable any reserve, special
deposit or similar requirement that is not otherwise included in the determination of the Adjusted LIBO Rate hereunder against assets of, deposits with or for the account of, or credit extended by, any Lender (except any such reserve requirement
reflected in the Adjusted LIBO Rate) or the Issuing Bank; or 
  
 (ii) impose on any Lender or on the Issuing Bank or the eurodollar interbank market any other condition affecting this Agreement or any Eurodollar Loans made by such Lender or any Letter of Credit or any participation
therein; and the result of either of the foregoing is to increase the cost to such Lender of making, converting into, continuing or maintaining a Eurodollar Loan or to increase the cost to such Lender or the Issuing Bank of participating in or
issuing any Letter of Credit or to reduce the amount received or receivable by such Lender or the Issuing Bank hereunder (whether of principal, interest or any other amount), then the Borrower shall promptly pay, upon written notice from and demand
by such Lender on the Borrower (with a copy of such notice and demand to the Administrative Agent), to the Administrative Agent for the account of such Lender, within five Business Days after the date of such notice and demand, additional amount or
amounts sufficient to compensate such Lender or the Issuing Bank, as the case may be, for such additional costs incurred or reduction suffered. 
  
 (b) If any Lender or the Issuing Bank shall have determined that on or after the date of this Agreement any Change in Law 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 parent corporation) as a consequence of its obligations
hereunder or under or in respect of any Letter of Credit to a level below that which such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s parent corporation could have achieved but for such Change in Law (taking into
consideration such Lender’s or the Issuing Bank’s policies or the policies of such Lender’s or the Issuing Bank’s parent corporation with respect to capital adequacy) then, from time to time, within five (5) Business Days after
receipt by the Borrower of written demand by such Lender (with a copy thereof to the Administrative Agent), the Borrower shall pay to such Lender such additional amounts as will compensate such Lender or the Issuing Bank or such Lender’s or the
Issuing Bank’s parent corporation for any such reduction suffered. 
  
 (c) 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 such Lender’s or the Issuing Bank’s parent corporation, as the case may be, specified
in paragraph (a) or (b) of this Section shall be delivered to the Borrower (with a copy to the Administrative Agent) and shall be conclusive, absent manifest error. The Borrower shall pay any such Lender or the Issuing Bank, as the case may be, such
amount or amounts within 10 days after receipt thereof. 
  

 35 

 (d) 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. 
  
 Section 2.20. Funding Indemnity. In the event of (a) the payment of any principal of a Eurodollar Loan or a Competitive Bid Loan other than
on the last day of the Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion or continuation of a Eurodollar Loan other than on the last day of the Interest Period applicable thereto, or (c) the
failure by the Borrower to borrow, prepay, convert or continue any Eurodollar Loan on the date specified in any applicable notice (regardless of whether such notice is withdrawn or revoked), unless such failure is a result of a Lender failing to
make a Eurodollar Borrowing to Borrower, then, in any such event, the Borrower shall compensate each Lender, within five (5) Business Days after written demand from such Lender, for any loss, cost or expense attributable to such event. In the case
of a Eurodollar Loan, such loss, cost or expense shall be deemed to include an amount determined by such Lender to be the excess, if any, of (A) the amount of interest that would have accrued on the principal amount of such Eurodollar Loan if such
event had not occurred at the Adjusted LIBO Rate applicable to such Eurodollar Loan for the period from the date of such event to the last day of the then current Interest Period therefor (or in the case of a failure to borrow, convert or continue,
for the period that would have been the Interest Period for such Eurodollar Loan) over (B) the amount of interest that would accrue on the principal amount of such Eurodollar Loan for the same period if the Adjusted LIBO Rate were set on the date
such Eurodollar Loan was prepaid or converted or the date on which the Borrower failed to borrow, convert or continue such Eurodollar Loan. In the case of a Competitive Bid Loan, such compensation shall include the amount of such losses, costs or
expenses as the Lender that made such Competitive Bid Loan may reasonably incur by reason of such prepayment or failure to borrow, including any such losses, costs or expenses incurred in obtaining, liquidating or employing deposits from third
parties. A certificate as to any additional amount payable under this Section 2.20 submitted to the Borrower by any Lender (with a copy to the Administrative Agent) shall be conclusive, absent manifest error. 
  
 Section 2.21. Taxes. 
  
 (a) Any and all payments by or on account of any obligation of the Borrower
hereunder shall be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes; provided, that if the Borrower shall be required to deduct any Indemnified Taxes or Other Taxes from such payments, then (i) the sum
payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent, any Lender or the Issuing Bank (as the case may be) shall
receive an amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower shall make such deductions and (iii) the Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance
with applicable law. 
  
 (b) In addition, the Borrower shall pay
any Other Taxes to the relevant Governmental Authority in accordance with applicable law. 
  
 (c) The Borrower shall indemnify the Administrative Agent, each Lender and the Issuing Bank, within five (5) Business Days after written demand therefor, for the full 
  

 36 

 amount of any Indemnified Taxes or Other Taxes paid by the Administrative Agent, such Lender or the Issuing Bank, as the
case may be, on or with respect to any payment by or on account of any obligation of the Borrower hereunder (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) 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 Borrower by a Lender or the Issuing Bank, or by the Administrative Agent on its own behalf or on behalf of a Lender or the Issuing Bank, shall be conclusive absent manifest error. 
  
 (d) As soon as practicable after any payment of Indemnified Taxes or Other
Taxes by the Borrower to a Governmental Authority, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting
such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 
  
 (e) Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax under the Code or any treaty to which the United States is a
party, with respect to payments under this Agreement shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or times prescribed by applicable law, such properly completed and executed documentation prescribed by
applicable law or reasonably requested by the Borrower as will permit such payments to be made without withholding or at a reduced rate. Without limiting the generality of the foregoing, each Foreign Lender agrees that it will deliver to the
Administrative Agent and the Borrower (or in the case of a Participant, to the Lender from which the related participation shall have been purchased), as appropriate, two (2) duly completed copies of (i) Internal Revenue Service Form W-8 ECI, or any
successor form thereto, certifying that the payments received from the Borrower hereunder are effectively connected with such Foreign Lender’s conduct of a trade or business in the United States; or (ii) Internal Revenue Service Form W-8 BEN,
or any successor form thereto, certifying that such Foreign Lender is entitled to benefits under an income tax treaty to which the United States is a party which reduces the rate of withholding tax on payments of interest; or (iii) Internal Revenue
Service Form W-8 BEN, or any successor form prescribed by the Internal Revenue Service, together with a certificate (A) establishing that the payment to the Foreign Lender qualifies as “portfolio interest” exempt from U.S. withholding tax
under Code section 871(h) or 881(c), and (B) stating that (1) the Foreign Lender is not a bank for purposes of Code section 881(c)(3)(A), or the obligation of the Borrower hereunder is not, with respect to such Foreign Lender, a loan
agreement entered into in the ordinary course of its trade or business, within the meaning of that section; (2) the Foreign Lender is not a 10% shareholder of the Borrower within the meaning of Code section 871(h)(3) or 881(c)(3)(B); and (3) the
Foreign Lender is not a controlled foreign corporation that is related to the Borrower within the meaning of Code section 881(c)(3)(C); or (iv) such other Internal Revenue Service forms as may be applicable to the Foreign Lender, including Forms W-8
IMY or W-8 EXP. Each such Foreign Lender shall deliver to the Borrower and the Administrative Agent such forms on or before the date that it becomes a party to this Agreement (or in the case of a Participant, on or before the date such Participant
purchases the related participation). In addition, each such Foreign Lender shall deliver such forms promptly upon the obsolescence or invalidity of any form previously delivered by such Foreign Lender. Each such Foreign Lender shall promptly notify
the Borrower and the 
  

 37 

 Administrative Agent at any time that it determines that it is no longer in a position to provide any previously
delivered certificate to the Borrower (or any other form of certification adopted by the Internal Revenue Service for such purpose). 
  
 Section 2.22. Payments Generally; Pro Rata Treatment; Sharing of Set-offs. 
  
 (a) The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, fees or
reimbursement of LC Disbursements, or of amounts payable under Sections 2.19, 2.20 or 2.21, or otherwise) prior to 2:00 p.m. (Atlanta, Georgia time), on the date when due, in immediately available funds, free and clear of any
defenses, rights of set-off, counterclaim, or withholding or deduction of taxes. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day
for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at the Payment Office, except payments to be made directly to the Issuing Bank or Swingline Lender as expressly provided herein and except that
payments pursuant to Sections 2.19, 2.20 and 2.21 and 10.3 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other
Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any
payment accruing interest, interest thereon shall be made payable for the period of such extension. All payments hereunder shall be made in Dollars. 
  
 (b) If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, unreimbursed LC
Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then
due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and unreimbursed LC Disbursements then
due to such parties. 
  
 (c) If any Lender shall, by exercising
any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Revolving Loans or participations in LC Disbursements or Swingline Loans that would result in such Lender receiving payment of
a greater proportion of the aggregate amount of its Revolving Loans and participations in LC Disbursements and Swingline Loans and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater
proportion (each a “Purchasing Lender”) shall purchase (for cash at face value) participations in the Revolving Loans and participations in LC Disbursements and Swingline Loans of other Lenders to the extent necessary so that the
benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Revolving Loans and participations in LC Disbursements and Swingline Loans;
provided, that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered or the Purchasing Lender is otherwise required to return or restore any such payment, such participations shall
be rescinded and each other Lender shall, promptly after request from the Administrative Agent or the Purchasing Lender, return to the Purchasing Lender 
  

 38 

 the purchase price for such participation to the extent of such recovery or the amount otherwise returned or restored by
the Purchasing Lender, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by
a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations in LC Disbursements or Swingline Loans to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate thereof
(as to which the provisions of this paragraph shall apply). The Borrower 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 Borrower rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation. 
  
 (d) Unless the Administrative Agent shall have received notice from the
Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing Bank hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has
made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the Issuing Bank, as the case may be, the amount or amounts due. In such event, if the Borrower 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 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 Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking
industry rules on interbank compensation. 
  
 (e) If any Lender
shall fail to make any payment required to be made by it pursuant to Section 2.6(b), 2.23(c) or (d), 2.8(b) or 10.3(d), then the Administrative Agent may, in its discretion
(notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations
are fully paid. 
  
 Section 2.23. Letters of Credit.

  
 (a) During the Availability Period, the Issuing Bank, in
reliance upon the agreements of the other Lenders pursuant to Section 2.23(d), agrees to issue, at the request of the Borrower, Letters of Credit for the account of the Borrower on the terms and conditions hereinafter set forth;
provided, that (i) each Letter of Credit shall expire on the earlier of (A) the date one year after the date of issuance of such Letter of Credit (or in the case of any renewal or extension thereof, one year after such renewal or extension)
and (B) the date that is five (5) Business Days prior to the Revolving Commitment Termination Date, (ii) each Letter of Credit shall be in a stated amount of at least $100,000; and (iii) the Borrower may not request any Letter of Credit, if,
after giving effect to such issuance (A) the aggregate LC Exposure would exceed the LC Commitment or (B) the aggregate Revolving Credit Exposure of all Lenders would exceed the Aggregate Revolving Commitment Amount. Upon the issuance of each Letter
of Credit each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, 
  

 39 

 purchase from the Issuing Bank without recourse a participation in such Letter of Credit equal to such Lender’s Pro
Rata Share of the aggregate amount available to be drawn under such Letter of Credit. Each issuance of a Letter of Credit shall be deemed to utilize the Revolving Commitment of each Lender by an amount equal to the amount of such participation.

  
 (b) To request the issuance of a Letter of Credit (or any
amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall give the Issuing Bank and the Administrative Agent irrevocable written notice at least three (3) Business Days prior to the requested date of such issuance
specifying the date (which shall be a Business Day) such Letter of Credit is to be issued (or amended, extended or renewed, as the case may be), the expiration date of such Letter of Credit, the amount of such Letter of Credit, the name and address
of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. In addition to the satisfaction of the conditions in Article III, the issuance of such Letter of Credit (or any
amendment which increases the amount of such Letter of Credit) will be subject to the further conditions that such Letter of Credit shall be in such form and contain such terms as the Issuing Bank shall approve and that the Borrower shall have
executed and delivered any additional applications, agreements and instruments relating to such Letter of Credit as the Issuing Bank shall reasonably require; provided, that in the event of any conflict between such applications, agreements
or instruments and this Agreement, the terms of this Agreement shall control. 
  
 (c) At least two Business Days prior to the issuance of any Letter of Credit, the Issuing Bank will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received such
notice and if not, the Issuing Bank will provide the Administrative Agent with a copy thereof. Unless the Issuing Bank has received notice from the Administrative Agent on or before the Business Day immediately preceding the date the Issuing Bank is
to issue the requested Letter of Credit (1) directing the Issuing Bank not to issue the Letter of Credit because such issuance is not then permitted hereunder because of the limitations set forth in Section 2.23(a) or (2) that one or
more conditions specified in Article III are not then satisfied, then, subject to the terms and conditions hereof, the Issuing Bank shall, on the requested date, issue such Letter of Credit in accordance with the Issuing Bank’s usual and
customary business practices. 
  
 (d) The Issuing Bank shall
examine all documents purporting to represent a demand for payment under a Letter of Credit promptly following its receipt thereof. The Issuing Bank shall notify the Borrower and the Administrative Agent of such demand for payment and whether the
Issuing Bank has made or will make a LC Disbursement thereunder; provided, that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse the Issuing Bank and the Lenders with respect to
such LC Disbursement. The Borrower shall be irrevocably and unconditionally obligated to reimburse the Issuing Bank for any LC Disbursements paid by the Issuing Bank in respect of such drawing, without presentment, demand or other formalities of any
kind. Unless the Borrower shall have notified the Issuing Bank and the Administrative Agent prior to 11:00 a.m. (Atlanta, Georgia time) on the Business Day immediately prior to the date on which such drawing is honored that the Borrower intends to
reimburse the Issuing Bank for the amount of such drawing in funds other than from the proceeds of Revolving Loans, the Borrower shall be deemed to have timely given a Notice of Revolving Borrowing to the Administrative Agent requesting the Lenders
to make a Base Rate 
  

 40 

 Borrowing on the date on which such drawing is honored in an exact amount due to the Issuing Bank; provided, that
for purposes solely of such Borrowing, the conditions precedents set forth in Section 3.2 hereof shall not be applicable. The Administrative Agent shall notify the Lenders of such Borrowing in accordance with Section 2.3, and each
Lender shall make the proceeds of its Base Rate Loan included in such Borrowing available to the Administrative Agent for the account of the Issuing Bank in accordance with Section 2.8. The proceeds of such Borrowing shall be applied directly
by the Administrative Agent to reimburse the Issuing Bank for such LC Disbursement.  
  
 (e) If for any reason a Base Rate Borrowing may not be (as determined in the sole discretion of the Administrative Agent), or is not, made in accordance with the foregoing provisions, then each Lender (other than the
Issuing Bank) shall be obligated to fund the participation that such Lender purchased pursuant to subsection (a) in an amount equal to its Pro Rata Share of such LC Disbursement on and as of the date which such Base Rate Borrowing should have
occurred. Each Lender’s obligation to fund its participation shall be absolute and unconditional and shall not be affected by any circumstance, including without limitation (i) any setoff, counterclaim, recoupment, defense or other right that
such Lender or any other Person may have against the Issuing Bank or any other Person for any reason whatsoever, (ii) the existence of a Default or an Event of Default or the termination of the Aggregate Revolving Commitments, (iii) any adverse
change in the condition (financial or otherwise) of the Borrower or any of its Subsidiaries, (iv) any breach of this Agreement by the Borrower or any other Lender, (v) any amendment, renewal or extension of any Letter of Credit or (vi) any other
circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. On the date that such participation is required to be funded, each Lender shall promptly transfer, in immediately available funds, the amount of its
participation to the Administrative Agent for the account of the Issuing Bank. Whenever, at any time after the Issuing Bank has received from any such Lender the funds for its participation in a LC Disbursement, the Issuing Bank (or the
Administrative Agent on its behalf) receives any payment on account thereof, the Administrative Agent or the Issuing Bank, as the case may be, will distribute to such Lender its Pro Rata Share of such payment; provided, that if such payment
is required to be returned for any reason to the Borrower or to a trustee, receiver, liquidator, custodian or similar official in any bankruptcy proceeding, such Lender will return to the Administrative Agent or the Issuing Bank any portion thereof
previously distributed by the Administrative Agent or the Issuing Bank to it. 
  
 (f) To the extent that any Lender shall fail to pay any amount required to be paid pursuant to paragraph (d) of this Section 2.24 on the due date therefor, such Lender shall pay interest to the Issuing Bank
(through the Administrative Agent) on such amount from such due date to the date such payment is made at a rate per annum equal to the Federal Funds Rate; provided, that if such Lender shall fail to make such payment to the Issuing Bank
within three (3) Business Days of such due date, then, retroactively to the due date, such Lender shall be obligated to pay interest on such amount at the Default Rate. 
  
 (g) If any Event of Default shall occur and be continuing, on the Business Day that the Borrower receives notice from the
Administrative Agent or the Required Lenders demanding the deposit of cash collateral pursuant to this paragraph, the Borrower shall deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of
the Issuing Bank and the Lenders, an amount in cash equal to the LC Exposure as of 
  

 41 

 such date plus any accrued and unpaid fees thereon; provided, that the obligation to deposit such cash collateral
shall become effective immediately, and such deposit shall become immediately due and payable, without demand or notice of any kind, upon the occurrence of any Event of Default with respect to the Borrower described in clause (g) or (h) of
Section 8.1. Such deposit shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of the Borrower under this Agreement. The Administrative Agent shall have exclusive dominion and control,
including the exclusive right of withdrawal, over such account. Borrower agrees to execute any documents and/or certificates to effectuate the intent of this paragraph. Such deposits shall not bear interest. Interest and profits, if any, on such
investments shall accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it had not been reimbursed and to the extent so applied, shall be held for
the satisfaction of the reimbursement obligations of the Borrower for the LC Exposure at such time or, if the maturity of the Loans has been accelerated, with the consent of the Required Lenders, be applied to satisfy other obligations of the
Borrower under this Agreement and the other Loan Documents. If the Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not so applied as aforesaid)
shall be returned to the Borrower within three Business Days after all Events of Default have been cured or waived. 
  
 (h) Promptly following the end of each Fiscal Quarter, the Issuing Bank shall deliver (through the Administrative Agent) to each Lender and the Borrower a
report describing the aggregate Letters of Credit outstanding at the end of such Fiscal Quarter. Upon the request of any Lender from time to time, the Issuing Bank shall deliver to such Lender any other information reasonably requested by such
Lender with respect to each Letter of Credit then outstanding. 
  
 (i) The Borrower’s obligation to reimburse LC Disbursements hereunder shall be absolute, unconditional and irrevocable and shall be performed strictly in accordance with the terms of this Agreement under all circumstances whatsoever
and irrespective of any of the following circumstances: 
  
 (i) Any lack of validity or enforceability of any Letter of Credit or this Agreement; 
  
 (ii) The existence of any claim, set-off, defense or other right which the Borrower or any Subsidiary or Affiliate of the Borrower may
have at any time against a beneficiary or any transferee of any Letter of Credit (or any Persons or entities for whom any such beneficiary or transferee may be acting), any Lender (including the Issuing Bank) or any other Person, whether in
connection with this Agreement or the Letter of Credit or any document related hereto or thereto or any unrelated transaction; 
  
 (iii) Any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any
statement therein being untrue or inaccurate in any respect; 
  

 42 

 (iv) Payment by the Issuing Bank under a Letter of Credit against presentation of a draft
or other document to the Issuing Bank that does not comply with the terms of such Letter of Credit; 
  
 (v) Any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this
Section, constitute a legal or equitable discharge of, or provide a right of setoff against, the Borrower’s obligations hereunder; or 
  
 (vi) The existence of a Default or an Event of Default. 
  
 Neither the Administrative Agent, the Issuing Bank, the Lenders nor any Related Party of any of the foregoing shall have any liability or
responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to above), or any error, omission,
interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical
terms or any consequence arising from causes beyond the control of the Issuing Bank; provided, that the foregoing shall not be construed to excuse the Issuing Bank from liability to the Borrower to the extent of any actual direct damages (as
opposed to special, indirect (including claims for lost profits or other consequential damages), or punitive damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower
that are caused by the Issuing Bank’s failure to exercise care when determining whether drafts or other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree, that in the absence of gross
negligence or willful misconduct on the part of the Issuing Bank (as finally determined by a court of competent jurisdiction), the Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and
without limiting the generality thereof, the parties agree that, with respect to documents presented that appear on their face to be in substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either
accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict
compliance with the terms of such Letter of Credit. 
  
 (j) Each
Letter of Credit shall be subject to the Uniform Customs and Practices for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500, as the same may be amended from time to time, and, to the extent not inconsistent
therewith, the governing law of this Agreement set forth in Section 10.5. 
  
 Section 2.24. Limitation on Certain Payment Obligations. 
  
 (a) Each Lender or Administrative Agent shall make written demand on Borrower for indemnification or compensation pursuant to Section 2.21 no later
than 90 days after the earlier of (i) the date on which such Lender or the Administrative Agent makes payment of such Taxes, and (ii) the date on which the relevant taxing authority or other governmental authority makes written demand upon such
Lender or the Administrative Agent for payment of such Taxes. 
  

 43 

 (b) Each Lender or the Administrative Agent shall make written demand on Borrower for indemnification or
compensation pursuant to Section 2.20 no later than 90 days after the event giving rise to the claim for indemnification or compensation occurs. 
  
 (c) Each Lender or the Administrative Agent shall make written demand on Borrower for indemnification or compensation pursuant to Section 2.19 no
later than 90 days after such Lender or the Administrative Agent receives actual notice or obtains actual knowledge of the promulgation of a law, role, order or interpretation or occurrence of another event giving rise to a claim pursuant to such
Sections. 
  
 (d) In the event that the Lenders or the
Administrative Agent fail to give Borrower notice within the time limitations prescribed in (a) or (b) above, Borrower shall not have any obligation to pay such claim for compensation or indemnification. In the event that the Lender or the
Administrative Agent fail to give Borrower notice within the time limitation prescribed in (c) above, Borrower shall not have any obligation to pay any amount with respect to claims accruing prior to the ninetieth day preceding such written demand.

  
 ARTICLE III 
  
 CONDITIONS PRECEDENT TO LOANS AND LETTERS OF CREDIT 

 
 Section 3.1. Conditions To Effectiveness. The obligations of
the Lenders (including the Swingline Lender) to make Loans and the obligation of the Issuing Bank to issue any Letter of Credit hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in
accordance with Section 10.2). 
  
 (a) The Administrative
Agent shall have received all fees and other amounts due and payable on or prior to the Closing Date, including reimbursement or payment of all out-of-pocket expenses (including reasonable fees, charges and disbursements of counsel to the
Administrative Agent) required to be reimbursed or paid by the Borrower hereunder, under any other Loan Document and under any agreement with the Administrative Agent or SunTrust Capital Markets, Inc., as Arranger. 
  
 (b) The Administrative Agent (or its counsel) shall have received the
following: 
  
 (i) a counterpart of this
Agreement signed by or on behalf of each party hereto or written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page of this Agreement) that such party has signed a counterpart of
this Agreement; 
  

 44 

 (ii) if requested by any Lender, duly executed Revolving Credit and/or Competitive Bid
Notes payable to such Lender and the Swingline Note payable to the Swingline Lender; 
  
 (iii) the duly executed Subsidiary Guaranty Agreement and Indemnity and Contribution Agreement, executed by each Material Subsidiary and
acknowledged by the Borrower; provided, however, that for any Subsidiary that becomes a Material Subsidiary after the Closing Date, this obligation shall be only as provided in Section 5.10; 
  
 (iv) a certificate of the Secretary or Assistant Secretary
of each Loan Party, attaching and certifying copies of its bylaws and of the resolutions of its boards of directors, or partnership agreement or limited liability company operating agreement, or comparable organizational documents and
authorizations, authorizing the execution, delivery and performance of the Loan Documents to which it is a party and certifying the name, title and true signature of each officer of such Loan Party executing the Loan Documents to which it is a
party; 
  
 (v) certified copies of the articles
or certificate of incorporation, certificate of organization or limited partnership, or other registered organizational documents of each Loan Party, together with certificates of good standing or existence, as may be available from the Secretary of
State of the jurisdiction of organization of such Loan Party and each other jurisdiction where such Loan Party is required to be qualified to do business as a foreign corporation and a failure to be so qualified would have a Material Adverse Effect;

  
 (vi) a favorable written opinion of counsel
to the Loan Parties, addressed to the Administrative Agent and each of the Lenders, and covering such matters relating to the Loan Parties, the Loan Documents and the transactions contemplated therein as the Administrative Agent or the Required
Lenders shall reasonably request; 
  
 (vii) a
certificate, dated the Closing Date and signed by a Responsible Officer, confirming compliance with the conditions set forth in paragraphs (a), (b) and (c) of Section 3.2; 
  
 (viii) a duly executed Notice of Revolving Borrowing; 
  
 (ix) a duly executed funds disbursement agreement;

  
 (x) certified copies of all consents,
approvals, authorizations, registrations and filings and orders required or advisable to be made or obtained under any Requirement of Law, or by any Contractual Obligation of each Loan Party, in connection with the execution, delivery, performance,
validity and enforceability of the Loan Documents or any of the transactions contemplated thereby, and such consents, approvals, authorizations, registrations, filings and orders shall be in full force and effect and all applicable waiting periods
shall have expired; 
  
 (xi) copies of (A) the
internally prepared quarterly financial statements of Borrower and its Subsidiaries on a consolidated basis for the Fiscal Quarter ended on April 30, 2004, and (B) the audited consolidated financial statements for Borrower and its Subsidiaries for
the Fiscal Years ended 2002, 2003 and 2004; and 
  

 45 

 (xii) certificates of insurance issued on behalf of insurers of the Borrower and all
guarantors, describing in reasonable detail the types and amounts of insurance (property and liability) maintained by the Borrower and all guarantors. 
  
 Section 3.2. Each Credit Event. The obligation of each Lender to make a Loan on the occasion of any Borrowing and of the Issuing Bank
to issue, amend, renew or extend any Letter of Credit is subject to the satisfaction of the following conditions: 
  
 (a) at the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of such Letter of Credit, as
applicable, no Default or Event of Default shall exist; 
  
 (b)
all representations and warranties of each Loan Party set forth in the Loan Documents shall be true and correct in all material respects on and as of the date of such Borrowing or the date of issuance, amendment, extension or renewal of such Letter
of Credit, in each case before and after giving effect thereto; 
  
 (c) since the date of the financial statements of the Borrower described in Section 4.4(i), there shall have been no change which has had or could reasonably be expected to have a Material Adverse Effect; 
  
 (d) the Borrower shall have delivered the required Notice of Revolving
Borrowing; and 
  
 (e) the Administrative Agent shall have
received such other documents, certificates, information or legal opinions as the Administrative Agent or the Required Lenders may reasonably request, all in form and substance reasonably satisfactory to the Administrative Agent or the Required
Lenders. 
  
 Each Borrowing and each issuance, amendment,
extension or renewal of any Letter of Credit shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in paragraphs (a), (b) and (c) of this Section 3.2. 
  
 Section 3.3. Delivery of Documents. All of the Loan Documents,
certificates, legal opinions and other documents and papers referred to in this Article III, unless otherwise specified, shall be delivered to the Administrative Agent for the account of each of the Lenders and, except for the Notes, in sufficient
counterparts or copies for each of the Lenders and shall be in form and substance satisfactory in all respects to the Administrative Agent. 
  

 46 

 ARTICLE IV 
  
 REPRESENTATIONS AND WARRANTIES 
  
 The Borrower represents and warrants to the Administrative Agent and each Lender as follows: 
  
 Section 4.1. Existence; Power. The Borrower and each of its
Subsidiaries (i) is duly organized, validly existing and in good standing as a corporation, partnership or limited liability company under the laws of the jurisdiction of its organization, (ii) has all requisite power and authority to carry on its
business as now conducted, and (iii) is duly qualified to do business, and is in good standing, in each jurisdiction where such qualification is required, except where a failure to be so qualified could not reasonably be expected to result in a
Material Adverse Effect. 
  
 Section 4.2. Organizational
Power; Authorization. The execution, delivery and performance by each Loan Party of the Loan Documents to which it is a party are within such Loan Party’s organizational powers and have been duly authorized by all necessary
organizational, and if required, stockholder, partner or member, action. This Agreement has been duly executed and delivered by the Borrower, and constitutes, and each other Loan Document to which any Loan Party is a party, when executed and
delivered by such Loan Party, will constitute, valid and binding obligations of the Borrower or such Loan Party (as the case may be), enforceable against it in accordance with their respective terms, except as may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity. 
  
 Section 4.3. Governmental Approvals; No Conflicts. The execution, delivery and performance by the Borrower of
this Agreement, and by each Loan Party of the other Loan Documents to which it is a party (a) do not require any consent or approval of, registration or filing with, or any action by, any Governmental Authority, except those as have been obtained or
made and are in full force and effect, (b) will not violate any Requirements of Law applicable to the Borrower or any of its Subsidiaries or any judgment, order or ruling of any Governmental Authority, (c) will not violate or result in a default
under any indenture, material agreement or other material instrument binding on the Borrower or any of its Subsidiaries or any of its assets or give rise to a right thereunder to require any payment to be made by the Borrower or any of its
Subsidiaries and (d) will not result in the creation or imposition of any Lien on any asset of the Borrower or any of its Subsidiaries, except Liens (if any) created under the Loan Documents. 
  
 Section 4.4. Financial Statements. The Borrower has furnished
to each Lender (i) the audited consolidated balance sheet of the Borrower and its Subsidiaries as of January 30, 2004, and the related consolidated statements of income, shareholders’ equity and cash flows for the Fiscal Year then ended
prepared by PriceWaterhouseCoopers LLP and (ii) the unaudited consolidated balance sheet of the Borrower and its Subsidiaries as of April 30, 2004, and the related unaudited consolidated statements of income and cash flows for the Fiscal Quarter and
year-to-date period then ending, certified by a Responsible Officer. Such financial statements fairly present the consolidated financial condition of the Borrower and its Subsidiaries as of such dates and the consolidated results of operations for
such periods in conformity with GAAP consistently applied, subject to year end audit adjustments and the absence of footnotes in the case of the statements referred to in clause (ii). Since January 30, 2004, there have been no changes with respect
to the Borrower and its Subsidiaries which have had or could reasonably be expected to have, singly or in the aggregate, a Material Adverse Effect. 
  

 47 

 Section 4.5. Litigation and Environmental Matters. 
  
 (a) No litigation, investigation or proceeding of or before any arbitrators
or Governmental Authorities is pending against or, to the knowledge of the Borrower, threatened against or affecting the Borrower or any of its Subsidiaries (i) as to which there is a reasonable possibility of an adverse determination that could
reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect or (ii) which in any manner draws into question the validity or enforceability of this Agreement or any other Loan Document. 
  
 (b) Except for the matters set forth on Schedule 4.5, neither the
Borrower nor any of its Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to any Environmental
Liability, (iii) has received notice of any claim with respect to any Environmental Liability or (iv) knows of any basis for any Environmental Liability, in each case where the effect of the foregoing could reasonably be expected to result in a
Material Adverse Effect. 
  
 Section 4.6. Compliance with
Laws and Agreements. The Borrower and each Subsidiary is in compliance with (a) all Requirements of Law and all judgments, decrees and orders of any Governmental Authority and (b) all indentures, agreements or other instruments binding upon
it or its properties, except where non-compliance, either singly or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 
  

Section 4.7. Investment Company Act, Etc. Neither the Borrower nor any of its Subsidiaries is (a) an “investment company” or is
“controlled” by an “investment company”, as such terms are defined in, or subject to regulation under, the Investment Company Act of 1940, as amended, (b) a “holding company” as defined in, or subject to regulation
under, the Public Utility Holding Company Act of 1935, as amended or (c) otherwise subject to any other regulatory scheme limiting its ability to incur debt or requiring any approval or consent from or registration or filing with, any Governmental
Authority in connection therewith. 
  
 Section 4.8.
Taxes. The Borrower and its Subsidiaries have timely filed or caused to be filed all Federal income tax returns and all other material tax returns that, to the best knowledge of the executive officers of Borrower and its Subsidiaries, are
required to be filed by them, and have paid all taxes shown to be due and payable on such returns or on any assessments made against it or its property and all other taxes, fees or other charges imposed on it or any of its property by any
Governmental Authority, except (i) to the extent the failure to do so would not have a Material Adverse Effect or (ii) where the same are currently being contested in good faith by appropriate proceedings and for which the Borrower or such
Subsidiary, as the case may be, has set aside on its books adequate reserves in accordance with GAAP. The charges, accruals and reserves on the books of the Borrower and its Subsidiaries in respect of such taxes are adequate, and no tax liabilities
that could be materially in excess of the amount so provided are anticipated. 
  
 Section 4.9. Margin Regulations. None of the proceeds of any of the Loans or Letters of Credit will be used, directly or indirectly, for “purchasing” or “carrying” any “margin
stock” with the respective meanings of each of such terms under Regulation U or for any purpose 
  

 48 

 that violates the provisions of Regulation U. Neither the Borrower nor 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 “margin stock.” 
  
 Section 4.10. ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA
Events for which liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect. The present value of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of
Statement of Financial Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the assets of such Plan, and the present value of all accumulated benefit obligations
of all underfunded Plans (based on the assumptions used for purposes of Statement of Financial Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the assets of
all such underfunded Plans. 
  
 Section 4.11. Ownership of
Property. 
  
 (a) Each of the Borrower and its
Subsidiaries has good title to, or valid leasehold interests in, all of its real and personal property material to the operation of its business, including all such properties reflected in the most recent audited consolidated balance sheet of the
Borrower referred to in Section 4.4 or purported to have been acquired by the Borrower or any Subsidiary after said date (except as sold or otherwise disposed of in the ordinary course of business), in each case free and clear of Liens, other
than Liens permitted under Section 7.2. All leases that individually or in the aggregate are material to the business or operations of the Borrower and its Subsidiaries are valid and subsisting and are in full force. 
  
 (b) Each of the Borrower and its Subsidiaries owns, or is licensed, or
otherwise has the right, to use, all patents, trademarks, service marks, trade names, copyrights, franchises, licenses and other intellectual property material to its business, and the use thereof by the Borrower and its Subsidiaries does not
infringe in any material respect on the rights of any other Person. 
  
 (c) The properties of the Borrower and its Subsidiaries are insured within terms reasonably acceptable to the Lenders, with financially sound and reputable insurance companies which are not Affiliates of the Borrower (other than the Captive
Insurance Company) (unless otherwise reasonably acceptable to the Lenders), in such amounts with such deductibles and covering such risks deemed adequate as are customarily carried by companies engaged in similar businesses and owning similar
properties in localities where the Borrower or any applicable Subsidiary operates. 
  
 Section 4.12. Disclosure. The Borrower has disclosed to the Lenders all agreements, instruments, and corporate or other restrictions to which the Borrower or any of its Subsidiaries is subject, and all
other matters known to any of them, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. Neither the Information Memorandum nor any of the reports (including without limitation all reports that
the Borrower is required to file with the Securities and Exchange Commission), financial statements, certificates or other information furnished by or on behalf of the Borrower to the Administrative 
  

 49 

 Agent or any Lender in connection with the negotiation or syndication of this Agreement or any other Loan Document or
delivered hereunder or thereunder (as modified or supplemented by any other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, taken as a whole, in light
of the circumstances under which they were made, not misleading. 
  
 Section 4.13. Labor Relations. There are no strikes, lockouts or other material labor disputes or grievances against the Borrower or any of its Subsidiaries, or, to the Borrower’s knowledge, threatened against or
affecting the Borrower or any of its Subsidiaries, and no significant unfair labor practice, charges or grievances are pending against the Borrower or any of its Subsidiaries, or to the Borrower’s knowledge, threatened against any of them
before any Governmental Authority. All payments due from the Borrower or any of its Subsidiaries pursuant to the provisions of any collective bargaining agreement have been paid or accrued as a liability on the books of the Borrower or any such
Subsidiary, except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. 
  
 Section 4.14. Subsidiaries. Schedule 4.14 sets forth the name of, the ownership interest of the Borrower in, the jurisdiction of
incorporation or organization of, and the type of, each Subsidiary and identifies each Subsidiary that is a Subsidiary Loan Party and that is a Material Subsidiary, in each case as of the Closing Date. 
  
 Section 4.15. Insolvency. After giving effect to the execution
and delivery of the Loan Documents, the making of the Loans under this Agreement, neither the Borrower nor its Subsidiaries will be “insolvent,” within the meaning of such term as defined in § 101 of Title 11 of the United States
Code, as amended from time to time, or be unable to pay its debts generally as such debts become due, or have an unreasonably small capital to engage in any business or transaction, whether current or contemplated. 
  
 Section 4.16. OFAC. Neither the Borrower nor any of its
Subsidiaries (i) is a person whose property or interest in property is blocked or subject to blocking pursuant to Section 1 of Executive Order 13224 of September 23, 2001 Blocking Property and Prohibiting Transactions With Persons Who Commit,
Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)), (ii) engages in any dealings or transactions prohibited by Section 2 of such executive order, or is otherwise associated with any such person in any manner violative of Section 2
of such executive order, or (iii) is a person on the list of Specially Designated Nationals and Blocked Persons or subject to the limitations or prohibitions under any other U.S. Department of Treasury’s Office of Foreign Assets Control
regulation or executive order, except where non-compliance, either singly or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 
  
 Section 4.17. Patriot Act. The Borrower and each of its Subsidiaries is in compliance, in all material
respects, with the (i) the Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or
executive order relating thereto, and (ii) the Uniting And Strengthening America By Providing Appropriate Tools Required To Intercept And Obstruct Terrorism (USA Patriot Act of 2001). No part of the proceeds of the Loans will be used, directly or
indirectly, for any payments to any governmental 
  

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 official or employee, political party, official of a political party, candidate for political office, or anyone else
acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended. 
  
 ARTICLE V 
  
 AFFIRMATIVE COVENANTS 
  
 The Borrower covenants and agrees that so long as any Lender has a Commitment
hereunder, any Letter of Credit remains outstanding or any Obligation remains unpaid or outstanding: 
  
 Section 5.1. Financial Statements and Other Information. The Borrower will deliver to the Administrative Agent and each Lender: 

 
 (a) as soon as available and in any event within 90 days after the end of
each Fiscal Year of Borrower, a copy of the annual audited report for such Fiscal Year for the Borrower and its Subsidiaries, containing a consolidated balance sheet of the Borrower and its Subsidiaries as of the end of such Fiscal Year and the
related consolidated statements of income, stockholders’ equity and cash flows (together with all footnotes thereto) of the Borrower and its Subsidiaries for such Fiscal Year, setting forth in each case in comparative form the figures for the
previous Fiscal Year, all in reasonable detail and reported on by PriceWaterhouseCoopers LLP or other independent public accountants of nationally recognized standing (without a “going concern” or like qualification, exception or
explanation and without any qualification or exception as to scope of such audit) to the effect that such financial statements present fairly in all material respects the financial condition and the results of operations of the Borrower and its
Subsidiaries for such Fiscal Year on a consolidated basis in accordance with GAAP and that the examination by such accountants in connection with such consolidated financial statements has been made in accordance with generally accepted auditing
standards; 
  
 (b) as soon as available and in any event within 60
days after the end of each Fiscal Quarter of the Borrower, an unaudited consolidated balance sheet of the Borrower and its Subsidiaries as of the end of such Fiscal Quarter and the related unaudited consolidated statements of income and cash flows
of the Borrower and its Subsidiaries for such Fiscal Quarter and the then elapsed portion of such Fiscal Year, setting forth in each case in comparative form the figures for the corresponding quarter and the corresponding portion of Borrower’s
previous Fiscal Year, all certified by the chief financial officer, the treasurer or the controller of the Borrower as presenting fairly in all material respects the financial condition and results of operations of the Borrower and its Subsidiaries
on a consolidated basis in accordance with GAAP, subject to normal year end audit adjustments and the absence of footnotes; 
  
 (c) concurrently with the delivery of the financial statements referred to in clauses (a) and (b) above, (i) a Compliance Certificate signed by the chief
executive officer or the chief financial officer of the Borrower and (ii) a written list of all Material Subsidiaries 
  

 51 

 formed, acquired or created from a transfer of assets or through any other event since the Closing Date with respect to
the first delivery of financial statements after the Closing Date and thereafter since the date of the most recently delivered Compliance Certificate, such list to include the name of each new Material Subsidiary, its state of incorporation, list of
its officers and directors and any other information that the Administrative Agent shall reasonably request; 
  
 (d) promptly upon receipt thereof, copies of all reports on the financial statements of the Borrower and its Subsidiaries, submitted by independent public
accountants to Borrower in connection with each annual, interim or special audit of Borrower’s consolidated financial statements; 
  
 (e) promptly after the same become publicly available, copies of all periodic and other reports, proxy statements and other materials filed with the
Securities and Exchange Commission, or any Governmental Authority succeeding to any or all functions of said Commission, or with any national securities exchange, or distributed by the Borrower to its shareholders generally, as the case may be; and

  
 (f) promptly following any request therefor, such other
information regarding the results of operations, business affairs and financial condition of the Borrower or any Subsidiary as the Administrative Agent or any Lender may reasonably request. 
  
 Originals of such financial statements and other reports and materials
referred to in this Section 5.1 need be delivered only to the Administrative Agent; all other Lenders may receive copies. 
  
 So long as the Borrower maintains a site on Intralinks®, Borrower may satisfy its obligation to deliver the financial statements and other reports and materials referred to in this Section
5.1 by delivering such financial statements and other reports and materials to the Administrative Agent and to Intralinks® for posting and requesting that each Lender be notified thereof. 
  
 Section 5.2. Notices of Material Events. The Borrower will furnish to the Administrative Agent and each Lender
prompt written notice of the following: 
  
 (a) the
occurrence of any Default or Event of Default; 
  
 (b) the
filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority against or, to the knowledge of the Borrower, affecting the Borrower or any Subsidiary which, if adversely determined, could reasonably be
expected to result in a Material Adverse Effect; 
  
 (c) the
occurrence of any event or any other development by which the Borrower or any of its Subsidiaries (i) fails to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any
Environmental Law, (ii) becomes subject to any Environmental Liability, (iii) receives notice of any claim with respect to any Environmental Liability, or (iv) becomes aware of any basis for any Environmental Liability and in each of the preceding
clauses, which individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect; 
  

 52 

 (d) the occurrence of any ERISA Event that alone, or together with any other ERISA Events that have
occurred, could reasonably be expected to result in liability of the Borrower and its Subsidiaries in an aggregate amount exceeding $1,000,000; 
  
 (e) the occurrence of any default or event of default, or the receipt by Borrower or any of its Subsidiaries of any written notice of an alleged default
or event of default, in respect of any Material Indebtedness of the Borrower or any of its Subsidiaries; 
  
 (f) simultaneously with the delivery of each Compliance Certificate, a written list of all Material Subsidiaries formed, acquired, or created from a
transfer of assets or through any other event, during the period commencing on the Closing Date and ending on the date on which the first Compliance Certificate is delivered, and thereafter since the date of the most recently delivered Compliance
Certificate; such written list shall include the name of each new Material Subsidiary, its state of incorporation, list of its officers and any other information that the Administrative Agent shall reasonably request; and 
  
 (g) any other development that results in, or could reasonably be expected to
result in, a Material Adverse Effect.  
  
 Each notice delivered under this
Section shall be accompanied by a written statement of a Responsible Officer setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 
  
 Section 5.3. Existence; Conduct of Business. The Borrower will,
and will cause each of its Subsidiaries to, do or cause to be done all things necessary to preserve, renew and maintain in full force and effect its legal existence and its respective rights, licenses, permits, privileges, franchises, patents,
copyrights, trademarks and trade names material to the conduct of its business; provided, that nothing in this Section shall prohibit any merger, consolidation, liquidation or dissolution permitted under Section 7.3. 
  
 Section 5.4. Compliance with Laws, Etc. The Borrower will, and
will cause each of its Subsidiaries to, comply with all laws, rules, regulations and requirements of any Governmental Authority applicable to its business and properties, including without limitation, all Environmental Laws, ERISA and OSHA, except
where the failure to do so, either individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 
  
 Section 5.5. Payment of Obligations. The Borrower will, and will cause each of its Subsidiaries to, pay and discharge at or before maturity,
(i) all taxes, assessments and governmental charges imposed upon it or upon its property, and (ii) all claims (including, without limitation, claims for labor, materials, supplies or services) which might, if unpaid, become a Lien upon its property,
unless, in each case, the validity or amount thereof is being contested in good faith by appropriate proceedings and adequate reserves are maintained with respect thereto. 
  
 Section 5.6. Books and Records. The Borrower will, and will cause each of its Subsidiaries to, keep proper
books of record and account in which full, true and correct entries shall be made of all dealings and transactions in relation to its business and activities to the extent necessary to prepare the consolidated financial statements of Borrower in
conformity with GAAP. 
  

 53 

 Section 5.7. Visitation, Inspection, Etc. The Borrower will, and will cause each of its
Subsidiaries to, permit any representative of the Administrative Agent or any Lender, to visit and inspect its properties, to examine its books and records and to make copies and take extracts therefrom, and to discuss its affairs, finances and
accounts with any of its officers and with its independent certified public accountants, all at such reasonable times and as often as the Administrative Agent or any Lender may reasonably request after reasonable prior notice to the Borrower;
provided, however, if an Event of Default has occurred and is continuing, no prior notice shall be required. 
  
 Section 5.8. Maintenance of Properties; Insurance. The Borrower will, and will cause each of its Subsidiaries to, (a) keep and maintain all
property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, except where the failure to do so, either individually or in the aggregate, could not reasonably be expected to result in a
Material Adverse Effect, (b) maintain with financially sound and reputable insurance companies or the Captive Insurance Company, insurance with respect to its properties and business, and the properties and business of its Subsidiaries, against loss
or damage of the kinds customarily insured against by companies in the same or similar businesses operating in the same or similar locations, and (c) at all times shall name Administrative Agent as additional insured on all liability policies of the
Borrower and its Subsidiaries. 
  
 Section 5.9. Use of
Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance Indebtedness outstanding under the Existing Credit Agreement, to finance working capital needs and acquisitions permitted under Section 7.4,
to support the issuance of commercial paper and for other general corporate purposes of the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule
or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general corporate purposes. 
  
 Section 5.10. Additional Subsidiaries. 
  
 (a) If any Subsidiary becomes a Material Subsidiary after the Closing Date, or any Material Subsidiary is acquired or formed
after the Closing Date, the Borrower will, simultaneously with delivery of the written list of new Material Subsidiaries required pursuant to Section 5.1(c) above, cause such Material Subsidiary to become a Subsidiary Loan Party by satisfying
the requirements of clause (e) below. 
  
 (b) If, at any time, the
aggregate revenue or assets (on a non-consolidated basis) of the Borrower and those Subsidiaries that are then Subsidiary Loan Parties are less than the Aggregate Subsidiary Threshold, then the Borrower shall cause one or more other Subsidiaries to
become additional Subsidiary Loan Parties, as provided in this Section 5.10, within ten (10) Business Days after such revenues or assets become less than the Aggregate Subsidiary Threshold so that after including the revenue or assets of any
such additional Subsidiary Loan Parties, the aggregate revenue or assets (on a non-consolidated basis) of the Borrower and all such Subsidiary Loan Parties would equal or exceed the Aggregate Subsidiary Threshold. 
  

 54 

 (c) The Borrower may elect at any time to have any Subsidiary become an additional Subsidiary Loan Party
as provided in this Section 5.10. 
  
 (d) Upon the
occurrence and during the continuation of any Event of Default, if the Required Lenders so direct, the Borrower shall (i) cause all of its Subsidiaries (other than Securitization Subsidiaries) to become additional Subsidiary Loan Parties, as
provided in this Section 5.10, within ten (10) Business Days after the Borrower’s receipt of written confirmation of such direction from the Administrative Agent. 
  
 (e) A Subsidiary shall become an additional Subsidiary Loan Party after the Closing Date by executing and delivering to the
Administrative Agent a Subsidiary Guaranty Supplement and an Indemnity and Contribution Agreement Supplement, accompanied by (i) all other Loan Documents related thereto, (ii) certified copies of certificates or articles of incorporation or
organization, by-laws, membership operating agreements, and other organizational documents, appropriate authorizing resolutions of the board of directors of such Subsidiaries, and opinions of counsel comparable to those delivered pursuant to
Section 3.1(vii), and (iii) such other documents as the Administrative Agent may reasonably request. Notwithstanding the foregoing, if the Subsidiary becoming an additional Subsidiary Loan Party shall be a captive insurance company
(other than the Captive Insurance Company) organized under the laws of Bermuda or another jurisdiction in which captive insurance companies frequently are formed by major U.S. corporations, the Subsidiary Guaranty Supplement and the Indemnity and
Contribution Agreement Supplement for such additional Subsidiary Loan Party shall provide that in no event or circumstance shall the Administrative Agent, any Lender or any other Guarantor be entitled to recover from such new Subsidiary Loan Party
any amount that would cause such captive insurance company’s statutory assets to fail to exceed its statutory liabilities by the margin required by the applicable insurance laws of the jurisdiction in which it is organized; provided that
such limitations shall be no greater than the limitations contained in the Subsidiary Guaranty Agreement and the Indemnity and Contribution Agreement with respect to the Captive Insurance Company without the prior written consent of the
Administrative Agent, such consent not to be unreasonably withheld. 
  
 Section 5.11. Ownership of all Subsidiary Loan Parties. Borrower shall maintain its percentage of ownership existing as of the date hereof of all Subsidiary Loan Parties, and shall not decrease its ownership percentage in each
Person which becomes a Subsidiary Loan Party after the date hereof, as such ownership exists at the time such Person becomes a Subsidiary Loan Party. 
  
 Section 5.12. Post Closing Requirements. The Borrower will, and will cause each of its Subsidiaries to: 
  
 (a) No later than ten (10) days after the Closing Date, deliver to the
Administrative Agent certified copies of the articles of incorporation or other charter documents of Kamen Supply Company, Inc. together with certificates of good standing or existence from the Secretary of the State of Kansas. 
  

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 (b) No later than ten (10) days after the Closing Date, deliver to the Administrative Agent certified
copies of the articles of incorporation or other charter documents of Century Maintenance Supply, Inc. together with certificates of good standing or existence from the Delaware Secretary of State. 
  
 ARTICLE VI 
  
 FINANCIAL COVENANTS 
  
 The Borrower covenants and agrees that so long as any Lender has a Commitment
hereunder, any Letter of Credit remains outstanding or any Obligation remains unpaid or outstanding: 
  
 Section 6.1. Leverage Ratio. The Borrower shall maintain at the end of each Fiscal Quarter a Leverage Ratio of not greater than
0.55:1.00. 
  
 Section 6.2. Fixed Charge Coverage
Ratio. The Borrower will maintain, as of the end of each Fiscal Quarter, a Fixed Charge Coverage Ratio of not less than 1.50:1.00. 
  
 Section 6.3. Consolidated Net Worth. The Borrower will maintain at the end of each Fiscal Quarter a Consolidated Net Worth of not less than
the sum of (a) $900,000,000 plus (b) 50% of Consolidated Net Income on a cumulative basis for all preceding Fiscal Quarters, commencing with the Fiscal Quarter ending April 30, 2004; provided, that if Consolidated Net Income is
negative in any Fiscal Quarter the amount added for such Fiscal Quarter shall be zero and such negative Consolidated Net Income shall not reduce the amount of Consolidated Net Income added from any previous Fiscal Quarter, plus (c) 100% of
the amount by which the Borrower’s “total stockholders’ equity” is increased as a result of any public or private offering of Capital Stock of the Borrower after the Closing Date. Promptly upon the consummation of any such
offering of Capital Stock, the Borrower shall notify the Administrative Agent in writing of the amount of such increase in “total stockholders’ equity”. 
  
 ARTICLE VII 
  
 NEGATIVE COVENANTS 
  
 The Borrower covenants and agrees that so long as any Lender has a Commitment hereunder, any Letter of Credit remains outstanding or any Obligation
remains outstanding: 
  
 Section 7.1. Indebtedness and
Preferred Equity. The Borrower will not, and will not permit any of its Subsidiaries to, create, incur, assume or suffer to exist any Indebtedness, except: 
  
 (a) Indebtedness created pursuant to the Loan Documents; 
  

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 (b) Indebtedness outstanding on the date hereof or incurred under financing agreements outstanding on the
date hereof, in each case as set forth on Schedule 7.1 and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (immediately prior to giving effect to such extension,
renewal or replacement) or shorten the maturity or the weighted average life thereof; 
  
 (c) Indebtedness incurred to finance the acquisition, construction or improvement of any fixed or capital assets, including Capital Lease Obligations, and any Indebtedness assumed in connection with the acquisition of
any such assets or secured by a Lien on any such assets prior to the acquisition thereof; provided, that such Indebtedness is incurred prior to or within 90 days after such acquisition or the completion of such construction or improvements or
extensions, renewals, and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (immediately prior to giving effect to such extension, renewal or replacement) or shorten the maturity or the weighted
average life thereof; provided further, that the aggregate principal amount of such Indebtedness does not exceed $50,000,000 at any time outstanding; 
  
 (d) Indebtedness of the Borrower owing to any Subsidiary and of any Subsidiary owing to the Borrower or any other Subsidiary; provided, that any
such Indebtedness that is owed by a Subsidiary that is not a Subsidiary Loan Party shall be subject to Section 7.4; 
  
 (e) Guarantees by the Borrower of Indebtedness of any Subsidiary and by any Subsidiary of Indebtedness of the Borrower or any other Subsidiary;
provided, that Guarantees by any Loan Party of Indebtedness of any Subsidiary that is not a Subsidiary Loan Party shall be subject to Section 7.4; provided, further, that neither the Borrower nor any of its Subsidiaries
shall be permitted to Guarantee any Indebtedness owed by any Securitization Subsidiary; 
  
 (f) Indebtedness of any Person which becomes a Subsidiary after the date of this Agreement; provided, that such Indebtedness exists at the time that such Person becomes a Subsidiary and is not created in
contemplation of or in connection with such Person becoming a Subsidiary; 
  
 (g) Permitted Subordinated Debt; 
  
 (h) Indebtedness owed to a Person other than the Borrower or any Subsidiaries in respect of any Securitization Transaction permitted by Section 7.6(c) in an aggregate amount not to exceed $100,000,000; 
  
 (i) Indebtedness in respect of Hedging Obligations permitted by Section
7.10; and 
  
 (j) other unsecured Indebtedness so long as at
the time such Indebtedness is incurred, and after giving pro forma effect to the incurrence and application of the proceeds thereof, the Borrower’s Leverage Ratio is not greater than 0.55:1.00. 
  
 Borrower will not, and will not permit any Subsidiary to, issue any preferred stock or other
preferred equity interests that (i) matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise, (ii) is or may become redeemable or repurchaseable at the option of the 
  

 57 

 holder thereof, in whole or in part or (iii) is convertible or exchangeable at the option of the holder thereof for
Indebtedness or preferred stock or any other preferred equity interests described in this paragraph, on or prior to, in the case of clause (i), (ii) or (iii), the first anniversary of the Revolving Commitment Termination Date. 
  
 Section 7.2. Negative Pledge. The Borrower will not, and will
not permit any of its Subsidiaries to, create, incur, assume or suffer to exist any Lien on any of its assets or property now owned or hereafter acquired, except: 
  
 (a) Permitted Encumbrances; 
  
 (b) any Liens on any property or asset of the Borrower or any Subsidiary existing on the Closing Date set forth on Schedule 7.2; provided,
that such Lien shall not apply to any other property or asset of the Borrower or any Subsidiary; 
  
 (c) purchase money Liens upon or in any fixed or capital assets to secure the purchase price or the cost of construction or improvement of such fixed or
capital assets or to secure Indebtedness incurred solely for the purpose of financing the acquisition, construction or improvement of such fixed or capital assets (including Liens securing any Capital Lease Obligations); provided, that (i)
such Lien secures Indebtedness permitted by Section 7.1(c) or Section 7.9, (ii) such Lien attaches to such asset concurrently or within 90 days after the acquisition, improvement or completion of the construction thereof; (iii)
such Lien does not extend to any other asset; and (iv) the Indebtedness secured thereby does not exceed the cost of acquiring, constructing or improving such fixed or capital assets; 
  
 (d) any Lien (i) existing on any asset of any Person at the time such Person becomes a Subsidiary of the Borrower, (ii)
existing on any asset of any Person at the time such Person is merged with or into the Borrower or any Subsidiary of the Borrower or (iii) existing on any asset prior to the acquisition thereof by the Borrower or any Subsidiary of the Borrower;
provided, that any such Lien was not created in the contemplation of any of the foregoing and any such Lien secures only those obligations which it secures on the date that such Person becomes a Subsidiary or the date of such merger or the
date of such acquisition; 
  
 (e) any Lien arising out of any
Securitization Transaction permitted by Section 7.6(c); 
  
 (f) Liens (other than those permitted by paragraphs (a) through (e) above) encumbering assets having an Asset Value not greater than $50,000,000 in the aggregate at any one time; and 
  
 (g) extensions, renewals, or replacements of any Lien referred to in
paragraphs (a) through (f) of this Section; provided, that the principal amount of the Indebtedness secured thereby is not increased and that any such extension, renewal or replacement is limited to the assets originally encumbered thereby.

  

 58 

 Section 7.3. Fundamental Changes. 
  
 (a) The Borrower will not, and will not permit any Subsidiary to, merge into
or consolidate into any other Person, or permit any other Person to merge into or consolidate with it, or sell, or lease, transfer or otherwise dispose of (in a single transaction or a series of transactions) all or substantially all of its assets
(in each case, whether now owned or hereafter acquired) or all or substantially all of the stock of any of its Subsidiaries (in each case, whether now owned or hereafter acquired) or liquidate or dissolve; provided, that if at the time
thereof and immediately after giving effect thereto, no Default or Event of Default shall have occurred and be continuing (i) the Borrower or any Subsidiary may merge with a Person if the Borrower (or such Subsidiary if the Borrower is not a party
to such merger) is the surviving Person, (ii) any Subsidiary may merge into another Subsidiary; provided, that if any party to such merger is a Subsidiary Loan Party, the Subsidiary Loan Party shall be the surviving Person, (iii) any
Subsidiary may sell, transfer, lease or otherwise dispose of all or substantially all of its assets to the Borrower or to a Subsidiary Loan Party, (iv) the Borrower and any Subsidiary may sell, transfer, lease or otherwise dispose of all or
substantially all of its assets to the extent permitted in Section 7.6, and (v) any Subsidiary (other than a Subsidiary Loan Party) may liquidate or dissolve if the Borrower determines in good faith that such liquidation or dissolution is in
the best interests of the Borrower and is not materially disadvantageous to the Lenders; provided, that any such merger involving a Person that is not a wholly-owned Subsidiary immediately prior to such merger shall not be permitted unless
also permitted by Section 7.4. 
  
 (b) The Borrower will
not, and will not permit any of its Subsidiaries to, engage in any business other than businesses of the type conducted by the Borrower and its Subsidiaries taken as whole on the date hereof and businesses reasonably related thereto, except where
the Investment made, and other funds expended or committed with respect to such business, do not exceed $5,000,000 in each new business. 
  
 Section 7.4. Investments, Loans, Etc. The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire
(including pursuant to any merger with any Person that was not a wholly-owned Subsidiary prior to such merger), any Capital Stock, evidence of indebtedness or other securities (including any option, warrant, or other right to acquire any of the
foregoing) of, make or permit to exist any loans or advances to, Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person (all of the foregoing being collectively called
“Investments”), or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person that constitute a business unit, or create or form any Subsidiary, except: 
  
 (a) Investments (other than Permitted Investments) existing on the date
hereof and set forth on Schedule 7.4 (including Investments in Subsidiaries); 
  
 (b) Permitted Investments; 
  
 (c)
Guarantees constituting Indebtedness permitted by Section 7.1; provided, that the aggregate principal amount of Indebtedness of Subsidiaries that are not Subsidiary Loan Parties that is Guaranteed by any Loan Party shall be subject to
the limitation set forth in clause (d) hereof; 
  

 59 

 (d) Investments made by the Borrower in or to any Subsidiary and by any Subsidiary to the Borrower or in
or to another Subsidiary; provided, that the aggregate amount of Investments by Loan Parties in or to, and Guarantees by Loan Parties of Indebtedness of, any Subsidiary that is not a Subsidiary Loan Party (including all such Investments and
Guarantees existing on the Closing Date) shall not exceed $30,000,000 at any time outstanding; provided, further, that neither the Borrower nor any of its Subsidiaries shall be permitted to Guarantee any Indebtedness owed by any
Securitization Subsidiary; 
  
 (e) Investments made by the
Borrower in or to any Subsidiary and by any Subsidiary to any Person that is not a Subsidiary; provided, that the aggregate amount of all such Investments in or to, and Guarantees of Indebtedness of, any such Persons (including all such
Investments and Guarantees existing on the Closing Date) shall not exceed $25,000,000 at any time outstanding; 
  
 (f) loans or advances to employees, officers or directors of the Borrower or any Subsidiary in the ordinary course of business for travel, relocation and
related expenses; provided, however, that the aggregate amount of all such loans and advances does not exceed $1,000,000 at any time; 
  
 (g) Hedging Obligations permitted by Section 7.10; 
  
 (h) any Capital Stock, evidence of indebtedness, other securities (including any option, warrant, or other right to acquire any of the foregoing) or any
assets of any other Person if the aggregate purchase price in any such transaction or series of related transactions does not exceed $250,000,000; and 
  
 (i) other Investments that in the aggregate do not exceed $5,000,000 in any Fiscal Year. 
  
 Section 7.5. Restricted Payments. The Borrower will not, and will not permit its Subsidiaries to,
declare or make, or agree to pay or make, directly or indirectly, any dividend on any class of its stock, or make any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, retirement,
defeasance or other acquisition of, any shares of Capital Stock or Indebtedness subordinated to the Obligations of the Borrower or any Guarantee thereof or any options, warrants, or other rights to purchase such Capital Stock or such Indebtedness,
whether now or hereafter outstanding (each, a “Restricted Payment”), except for (i) dividends payable by the Borrower solely in shares of any class of its common stock, (ii) Restricted Payments made by any Subsidiary to the Borrower
or to another Subsidiary Loan Party, (iii) so long as no Default or Event of Default has occurred and is continuing or would result therefrom, any payments made for the repurchase of outstanding capital stock of the Borrower made since January 31,
2003 in an aggregate amount at any time not to exceed $60,000,000; and (iv) so long as no Default or Event of Default has occurred and is continuing or would result therefrom, cash dividends and distributions paid on, and cash redemptions of, the
common stock of the Borrower; provided, that the aggregate amount of all such Restricted Payments made by the Borrower under clauses (iii) and (iv) in this Section 7.5 does not exceed 
  

 60 

 50% of Consolidated Net Income (or, in an event of a loss, minus 100% of Net Income) earned during the
Borrower’s Fiscal Year commencing on January 30, 1999 and each Fiscal Year thereafter (such period to be treated as one accounting period).  
  
 Section 7.6. Sale of Assets. The Borrower will not, and will not permit any of its Subsidiaries to, convey, sell, lease, assign, transfer or
otherwise dispose of, any of its assets, business or property, whether now owned or hereafter acquired, or, in the case of any Subsidiary, issue or sell any shares of such Subsidiary’s Capital Stock to any Person other than the Borrower or a
Subsidiary Loan Party (or to qualify directors if required by applicable law), except: 
  
 (a) the sale of equipment or other personal property being replaced by other equipment or other personal property purchased as a capital expenditure item; 
  
 (b) the sale of inventory and Permitted Investments in the ordinary course of business; 
  
 (c) the sale of accounts receivable and all related rights pursuant to a
Securitization Transaction that results in Indebtedness that is permitted under Section 7.1; 
  
 (d) the sale of assets in connection with a sale-leaseback transaction permitted under Section 7.9; and 
  
 (e) other asset sales (including the stock of Subsidiaries) where, on the
date of execution of a binding obligation to make such asset sale (provided that if the asset sale is not consummated within six (6) months of such execution, then on the date of consummation of such asset sale rather than on the date of execution
of such binding obligation), the aggregate Asset Value of all asset sales occurring after the Closing Date, taking into account the Asset Value of the proposed asset sale, would not exceed ten percent (10%) of the greater of (i) Borrower’s
Consolidated Net Worth as of April 30, 2004 and (ii) Borrower’s Consolidated Net Worth as of the date of the most recent financial statements delivered pursuant to this Agreement. 
  
 Section 7.7. Transactions with Affiliates. The Borrower will not, and will not permit any of its Subsidiaries
to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates, except (a) in the ordinary course of
business at prices and on terms and conditions not less favorable to the Borrower or such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties, (b) transactions between or among the Borrower and any Subsidiary
Loan Party not involving any other Affiliates and (c) any Restricted Payment permitted by Section 7.5. 
  
 Section 7.8. Restrictive Agreements. The Borrower will not, and will not permit any Subsidiary to, directly or indirectly, enter into, incur
or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter
acquired, or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to its common stock, to make or repay loans or advances to the Borrower or any other Subsidiary, to Guarantee Indebtedness of the Borrower or any
other Subsidiary or to transfer any of its property or assets to the Borrower or any Subsidiary of the 
  

 61 

 Borrower; provided, that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this
Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to
the Subsidiary that is sold and such sale is permitted hereunder, (iii) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions and
conditions apply only to the property or assets securing such Indebtedness, (iv) clause (a) shall not apply to customary provisions in leases and other contracts restricting the assignment thereof and (v) the foregoing restrictions shall not apply
to restrictions on any Securitization Subsidiaries contained in the documents governing any Securitization Transaction. 
  
 Section 7.9. Sale and Leaseback Transactions. The Borrower will not, and will not permit any of the Subsidiaries to, enter into any
arrangement, directly or indirectly, whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereinafter acquired, and thereafter rent or lease such property or other property that it
intends to use for substantially the same purpose or purposes as the property sold or transferred, except (i) the sale and leaseback transactions listed on Schedule 7.9 and (ii) other property to the extent that the aggregate fair market
value of all such other property sold and leased back pursuant to this clause (ii) does not exceed $100,000,000 at any one time. 
  
 Section 7.10. Hedging Transactions. The Borrower will not, and will not permit any of the Subsidiaries to, enter into any Hedging
Transaction, other than Hedging Transactions entered into in the ordinary course of business to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its assets and
liabilities. Solely for the avoidance of doubt, the Borrower acknowledges that a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall be deemed to mean the creation of risk exposure where one does not
exist) in relation to any of its business operations and shall include without limitation any Hedging Transaction under which the Borrower or any of the Subsidiaries is or may become obliged to make any payment (i) in connection with the purchase by
any third party of any common stock or any Indebtedness or (ii) as a result of changes in the market value of any common stock or any Indebtedness, is not a Hedging Transaction entered into in the ordinary course of business to hedge or mitigate
risks. 
  
 Section 7.11. Fiscal Year. Without the
prior written consent of the Administrative Agent, the Borrower will not, and will not permit any Subsidiary to, change the fiscal year of the Borrower or of any Subsidiary, except to change the fiscal year of a Subsidiary to conform its fiscal year
to that of the Borrower. 
  
 Section 7.12. Optional
Prepayments. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, prepay, purchase, redeem, retire, defease or otherwise acquire, or make any optional payment on account of any principal of, interest
on, or premium payable in connection with the optional prepayment, redemption or retirement of, any of its Indebtedness, or give a notice of redemption with respect to any such Indebtedness, or make any payment in violation of the subordination
provisions of any Permitted Subordinated Debt, except with respect to (i) the Obligations under this Agreement and the Notes, (ii) prepayments of Indebtedness outstanding pursuant to revolving credit, overdraft and line of 
  

 62 

 credit facilities permitted pursuant to Section 7.1 and (iii) so long as no Default or Event of Default has
occurred and is continuing, intercompany loans made or outstanding pursuant to Section 7.1. 
  
 Section 7.13. Actions Under Certain Documents. The Borrower will not, and will not permit any of its Subsidiaries to, without the prior
written consent of the Administrative Agent, (a) modify, amend, cancel or rescind (i) the certificate or articles of incorporation, bylaws or other organizational documents or (ii) any agreements or documents evidencing or governing Permitted
Subordinated Debt, or (b) make demand of payment or accept payment on any intercompany Indebtedness permitted by Section 7.1, except that with respect to such intercompany Indebtedness, (i) current interest accrued thereon as of the date of
this Agreement and all interest subsequently accruing thereon (whether or not paid currently) may be paid unless a Default or Event of Default has occurred and is continuing and (ii) the Borrower and its Subsidiaries may demand and accept payment on
any intercompany Indebtedness owed by a Securitization Subsidiary to the Borrower or such Subsidiary. 
  
 Section 7.14. Financial Letters of Credit. The Borrower will not, and will not permit any of its Subsidiaries to, create, incur, assume or
suffer to exist Indebtedness under Financial Letters of Credit (other than Letters of Credit) in an aggregate amount in excess of $50,000,000 at any one time outstanding. 
  
 ARTICLE VIII 
  
 EVENTS OF DEFAULT 
  
 Section 8.1. Events of Default. If any of the following events (each an “Event of Default”) shall occur: 
  
 (a) the Borrower shall fail to pay any principal of any Loan or of any
reimbursement obligation in respect of any LC Disbursement when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment or otherwise; or 
  
 (b) the Borrower shall fail to pay any interest on any Loan or any fee or any
other amount (other than an amount payable under clause (a) of this Section 8.1) payable under this Agreement or any other Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a
period of five (5) Business Days; or 
  
 (c) any representation or
warranty made or deemed made by or on behalf of the Borrower or any Subsidiary in or in connection with this Agreement or any other Loan Document (including the Schedules attached thereto) and any amendments or modifications hereof or waivers
hereunder, or in any certificate, report, financial statement or other document submitted to the Administrative Agent or the Lenders by any Loan Party or any representative of any Loan Party pursuant to or in connection with this Agreement or any
other Loan Document shall prove to be incorrect in any material respect when made or deemed made or submitted; or 
  

 63 

 (d) the Borrower shall fail to observe or perform any covenant or agreement contained in Sections
5.2, 5.3 (with respect to the Borrower’s existence) or Articles VI or VII; or 
  
 (e) any Loan Party shall fail to observe or perform any covenant or agreement contained in this Agreement (other than those referred to in clauses (a), (b) and (d) above) or any other Loan Document, and such failure
shall remain unremedied for 30 days after the earlier of (i) any Responsible Officer of the Borrower becomes aware of such failure, or (ii) notice thereof shall have been given to the Borrower by the Administrative Agent or any Lender; or

  
 (f) the Borrower or any Subsidiary (whether as primary obligor
or as guarantor or other surety) shall fail to pay any principal of, or premium or interest on, any Material Indebtedness that is outstanding, when and as the same shall become due and payable (whether at scheduled maturity, required prepayment,
acceleration, demand or otherwise), and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument evidencing or governing such Indebtedness; or any other event shall occur or condition shall
exist under any agreement or instrument relating to such Indebtedness and shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such event or condition is to accelerate, or permit the
acceleration of, the maturity of such Indebtedness; or any such Indebtedness shall be declared to be due and payable, or required to be prepaid or redeemed (other than by a regularly scheduled required prepayment or redemption), purchased or
defeased, or any offer to prepay, redeem, purchase or defease such Indebtedness shall be required to be made, in each case prior to the stated maturity thereof; 
  

(g) the Borrower or any Subsidiary shall (i) commence a voluntary case or other proceeding or file any petition seeking liquidation, reorganization or
other relief under any federal, state or foreign bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a custodian, trustee, receiver, liquidator or other similar official of it or any substantial part
of its property, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (i) of this Section, (iii) apply for or consent to the appointment of a custodian, trustee,
receiver, liquidator or other similar official for the Borrower or any such Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a
general assignment for the benefit of creditors, or (vi) take any action for the purpose of effecting any of the foregoing; or 
  
 (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization or other relief in
respect of the Borrower or any Subsidiary or its debts, or any substantial part of its assets, under any federal, state or foreign bankruptcy, insolvency or other similar law now or hereafter in effect or (ii) the appointment of a custodian,
trustee, receiver, liquidator or other similar official for the Borrower or any Subsidiary or for a substantial part of its assets, and in any such case, such proceeding or petition shall remain undismissed for a period of 60 days or an order or
decree approving or ordering any of the foregoing shall be entered; or 
  
 (i) the Borrower or any Subsidiary shall become unable to pay, shall admit in writing its inability to pay, or shall fail to pay, its debts as they become due; or 
  

 64 

 (j) an ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken together
with other ERISA Events that have occurred, could reasonably be expected to result in liability to the Borrower and the Subsidiaries in an aggregate amount exceeding $5,000,000; or 
  
 (k) any judgment or order for the payment of money in excess of $5,000,000 in the aggregate shall be rendered against the
Borrower or any Subsidiary, and either (i) enforcement proceedings shall have been commenced by any creditor upon such judgment or order or (ii) there shall be a period of 30 consecutive days during which a stay of enforcement of such judgment or
order, by reason of a pending appeal or otherwise, shall not be in effect; or 
  
 (l) any non-monetary judgment or order shall be rendered against the Borrower or any Subsidiary that could reasonably be expected to have a Material Adverse Effect, and there shall be a period of 30 consecutive days
during which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise, shall not be in effect; or 
  
 (m) a Change in Control shall occur or exist; or 
  
 (n) any provision of any Subsidiary Guaranty Agreement shall for any reason cease to be valid and binding on, or enforceable against, any Subsidiary Loan
Party, or any Subsidiary Loan Party shall so state in writing, or any Subsidiary Loan Party shall seek to terminate its Subsidiary Guaranty Agreement; or 
  
 (o) there shall exist or occur any “Event of Default” as provided under the terms of any other Loan Document, or any Loan Document ceases to be
in full force and effect or the validity or enforceability thereof is disaffirmed by or on behalf of Borrower or any other Loan Party, or at any time it is or becomes unlawful for Borrower or any other Loan Party to perform or comply with its
obligations under any Loan Document, or the obligations of Borrower or any other Loan Party under any Loan Document are not or cease to be legal, valid and binding on Borrower or any such Loan Party; or 
  
 (p) an attachment or similar action shall be made on or taken against any of
the assets of the Borrower or any Subsidiary with an Asset Value exceeding $5,000,000 in aggregate and is not removed, suspended or enjoined within 60 days of the same being made or any suspension or injunction being lifted; 
  
 then, and in every such event (other than an event with respect to the Borrower described in
clause (g) or (h) of this Section) and at any time thereafter during the continuance of such event, the Administrative Agent may, and upon the written request of the Required Lenders shall, by notice to the Borrower, take any or all of the following
actions, at the same or different times: (i) terminate the Commitments, whereupon the Commitment of each Lender shall terminate immediately, (ii) declare the principal of and any accrued interest on the Loans, and all other Obligations owing
hereunder, to be, whereupon the same shall become, due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower, (iii) exercise all remedies contained in any other Loan
Document, and (iv) exercise any other remedies available at law or in equity; and that, if an Event of Default specified in either clause (g) or (h) with respect to the Borrower shall occur, the 
  

 65 

 Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest
thereon, and all fees, and all other Obligations shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower. 
  
 ARTICLE IX 
  
 THE ADMINISTRATIVE AGENT 
  
 Section 9.1. Appointment of Administrative Agent. 

 
 (a) Each Lender irrevocably appoints SunTrust Bank as the Administrative
Agent and authorizes it to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent under this Agreement and the other Loan Documents, together with all such actions and powers that are reasonably
incidental thereto. The Administrative Agent may perform any of its duties hereunder or under the other Loan Documents by or through any one or more sub-agents or attorneys-in-fact appointed by the Administrative Agent. The Administrative Agent and
any such sub-agent or attorney-in-fact may perform any and all of its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions set forth in this Article shall apply to any such sub-agent or
attorney-in-fact and the Related Parties of the Administrative Agent, any such sub-agent and any such attorney-in-fact and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as
well as activities as Administrative Agent. 
  
 (b) The Issuing
Bank shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith until such time and except for so long as the Administrative Agent may agree at the request of the Required Lenders to
act for the Issuing Bank with respect thereto; provided, that the Issuing Bank shall have all the benefits and immunities (i) provided to the Administrative Agent in this Article IX with respect to any acts taken or omissions suffered by the Issuing
Bank in connection with Letters of Credit issued by it or proposed to be issued by it and the application and agreements for letters of credit pertaining to the Letters of Credit as fully as if the term “Administrative Agent” as used in
this Article IX included the Issuing Bank with respect to such acts or omissions and (ii) as additionally provided in this Agreement with respect to the Issuing Bank. 
  
 Section 9.2. Nature of Duties of Administrative Agent. The Administrative Agent shall not have any duties or
obligations except those expressly set forth in this Agreement and the other Loan Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent 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, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except those discretionary rights and powers
expressly contemplated by the Loan Documents that the Administrative Agent is required to exercise in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in
Section 10.2), and (c) except as expressly set forth in the Loan Documents, the Administrative Agent shall not have any duty to disclose, and shall not be liable 
  

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 for the failure to disclose, any information relating to the Borrower or any of its Subsidiaries that is communicated to
or obtained by the Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it, its sub-agents or attorneys-in-fact with the consent or at the request of the
Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.2) or in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall
not be responsible for the negligence or misconduct of any sub-agents or attorneys-in-fact selected by it with reasonable care. The Administrative Agent shall not be deemed to have knowledge of any Default or Event of Default unless and until
written notice thereof (which notice shall include an express reference to such event being a “Default” or “Event of Default” hereunder) is given to the Administrative Agent by the Borrower or any Lender, and the Administrative
Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any 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 and conditions set forth in any Loan Document, (iv) the validity, enforceability, effectiveness
or genuineness of any Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article III or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be
delivered to the Administrative Agent. The Administrative Agent may consult with legal counsel (including counsel for the Borrower) concerning all matters pertaining to such duties. 
  
 Section 9.3. Lack of Reliance on the Administrative Agent. Each of the Lenders, the Swingline Lender and the
Issuing Bank acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter
into this Agreement. Each of the Lenders, the Swingline Lender and the Issuing Bank also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as
it has deemed appropriate, continue to make its own decisions in taking or not taking of any action under or based on this Agreement, any related agreement or any document furnished hereunder or thereunder. 
  
 Section 9.4. Certain Rights of the Administrative Agent. If the
Administrative Agent shall request instructions from the Required Lenders with respect to any action or actions (including the failure to act) in connection with this Agreement, the Administrative Agent shall be entitled to refrain from such act or
taking such act, unless and until it shall have received instructions from such Lenders; and the Administrative Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no Lender shall have any right
of action whatsoever against the Administrative Agent as a result of the Administrative Agent acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders where required by the terms of this Agreement.

  
 Section 9.5. Reliance by Administrative Agent.
The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing believed by it to be genuine and to have been
signed, sent or made by the proper Person. The Administrative Agent 
  

 67 

 may also rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person and
shall not incur any liability for relying thereon. The Administrative Agent may consult with legal counsel (including counsel for the Borrower), independent public 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 such counsel, accountants or experts. 
  
 Section 9.6. The Administrative Agent in its Individual Capacity. The bank serving as the Administrative Agent shall have the same rights
and powers under this Agreement and any other Loan Document in its capacity as a Lender as any other Lender and may exercise or refrain from exercising the same as though it were not the Administrative Agent; and the terms “Lenders”,
“Required Lenders”, “holders of Notes”, or any similar terms shall, unless the context clearly otherwise indicates, include the Administrative Agent in its individual capacity. The bank acting as the Administrative Agent and its
Affiliates may accept deposits from, lend money to, and generally engage in any kind of business with the Borrower or any Subsidiary or Affiliate of the Borrower as if it were not the Administrative Agent hereunder. 
  
 Section 9.7. Successor Administrative Agent. 
  
 (a) The Administrative Agent may resign at any time by giving notice thereof
to the Lenders and the Borrower. Upon any such resignation, the Required Lenders shall have the right to appoint a successor Administrative Agent, subject to the approval by the Borrower provided that no Default or Event of Default shall exist at
such time. If no successor Administrative Agent shall have been so appointed, and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of resignation, then the retiring Administrative Agent may, on
behalf of the Lenders and the Issuing Bank, appoint a successor Administrative Agent, which shall be a commercial bank organized under the laws of the United States of America or any state thereof or a bank which maintains an office in the United
States, having a combined capital and surplus of at least $500,000,000. 
  
 (b) Upon the acceptance of its appointment as the Administrative Agent hereunder by a successor, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the
retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations under this Agreement and the other Loan Documents. If within 45 days after written notice is given of the retiring
Administrative Agent’s resignation under this Section 9.7 no successor Administrative Agent shall have been appointed and shall have accepted such appointment, then on such 45th day (i) the retiring Administrative Agent’s resignation shall become effective, (ii) the retiring Administrative Agent shall thereupon be discharged from
its duties and obligations under the Loan Documents and (iii) the Required Lenders shall thereafter perform all duties of the retiring Administrative Agent under the Loan Documents until such time as the Required Lenders appoint a successor
Administrative Agent as provided above. After any retiring Administrative Agent’s resignation hereunder, the provisions of this Article IX shall continue in effect for the benefit of such retiring Administrative Agent and its representatives
and agents in respect of any actions taken or not taken by any of them while it was serving as the Administrative Agent. 
  

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 Section 9.8. Authorization to Execute other Loan Documents. Each Lender hereby authorizes
the Administrative Agent to execute on behalf of all Lenders all Loan Documents other than this Agreement. 
  
 Section 9.9. Documentation Agent; Syndication Agent; Managing Agent. Each Lender and each of the Borrower and its Subsidiaries hereby
designates Lehman Brothers Bank, FSB and Bank of America, N.A. as Co-Documentation Agents and agrees that the Co-Documentation Agents shall have no duties or obligations in such capacity under any Loan Documents to any Lender or the Borrower and its
Subsidiaries. Each Lender and each of the Borrower and its Subsidiaries hereby designates Wells Fargo Bank, National Association and Wachovia Bank, N.A. as Co-Syndication Agents and agrees that the Co-Syndication Agents shall have no duties or
obligations in such capacity under any Loan Documents to any Lender or the Borrower and its Subsidiaries. Each Lender and each of the Borrower and its Subsidiaries hereby designates Citibank, N.A. as Managing Agent and agrees that the Managing Agent
shall have no duties or obligations in such capacity under any Loan Documents to any Lender or the Borrower and its Subsidiaries. 
  
 ARTICLE X 
  
 MISCELLANEOUS 
  
 Section 10.1. Notices. 
  
 (a) Except in the case of notices and other communications expressly permitted to be given by telephone, all notices and other communications to any party herein to be effective shall be in writing and shall be delivered by hand or
overnight courier service, mailed by certified or registered mail or sent by email or telecopy, as follows: 
  

			
	To the Borrower:	 	Hughes Supply, Inc.
	 	 	One Hughes Way
	 	 	Orlando, Florida 32805
	 	 	Attention: Jay Clark, Treasurer
	 	 	Telecopy Number: (407) 648-9898
	 	 	Email: jay.clark@hughessupply.com
		
	with a copy to:	 	Hughes Supply, Inc.
	 	 	One Hughes Way
	 	 	Orlando, Florida 32805
	 	 	Attention: John Z. Pare, General Counsel
	 	 	Telecopy Number: (407) 649-3018
	 	 	Email: john.pare@hughessupply.com
	To the Administrative Agent	 	 
	or Swingline Lender:	 	SunTrust Bank
	 	 	200 S. Orange Avenue, MC 2064

  

 69 

			
	 	 	Orlando, Florida 32801
	 	 	Attn: Mr. William C. Barr
	 	 	Telecopy No. (407) 237-4076
	 	 	Email: william.barr@suntrust.com
		
	With a copy to:	 	SunTrust Bank
	 	 	Agency Services
	 	 	303 Peachtree Street, N. E./ 25th Floor
	 	 	Atlanta, Georgia 30308
	 	 	Attention: Ms. Doris Folsum
	 	 	Telecopy Number: (404) 658-4906
	 	 	and
	 	 	King & Spalding
	 	 	191 Peachtree Street, N.E.
	 	 	Atlanta, Georgia 30303
	 	 	Attention: Carolyn Z. Alford
	 	 	Telecopy Number: (404) 572-5100
	 	 	Email: czalford@kslaw.com
		
	To the Issuing Bank:	 	SunTrust Bank
	 	 	25 Park Place, N. E./Mail Code 3706
	 	 	Atlanta, Georgia 30303
	 	 	Attention: John Conley
	 	 	Telecopy Number: (404) 588-8129
		
	To any other Lender:	 	the address set forth in the Administrative Questionnaire or the Assignment and Acceptance Agreement executed by such Lender

  
 Any party hereto may change its
address or telecopy number for notices and other communications hereunder by notice to the other parties hereto. All such notices and other communications shall, when transmitted by overnight delivery, or faxed, be effective when delivered for
overnight (next-day) delivery, or transmitted in legible form by facsimile machine, respectively, or if mailed, upon the third Business Day after the date deposited into the mail or if delivered, upon delivery, or if emailed, upon receipt of
confirmation that such email has been read or deleted; provided, that notices delivered to the Administrative Agent, the Issuing Bank or the Swingline Lender shall not be effective until actually received by such Person at its address specified in
this Section 10.1. 
  
 (b) Any agreement of the
Administrative Agent and the Lenders herein to receive certain notices by telephone or facsimile is solely for the convenience and at the request of the Borrower. The Administrative Agent and the Lenders shall be entitled to rely on the authority of
any Person purporting to be a Person authorized by the Borrower to give such notice and the Administrative Agent and Lenders shall not have any liability to the Borrower or other Person on account of any action taken or not taken by the
Administrative Agent or the Lenders in 
  

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 reliance upon such telephonic or facsimile notice. The obligation of the Borrower to repay the Loans and all other
Obligations hereunder shall not be affected in any way or to any extent by any failure of the Administrative Agent and the Lenders to receive written confirmation of any telephonic or facsimile notice or the receipt by the Administrative Agent and
the Lenders of a confirmation which is at variance with the terms understood by the Administrative Agent and the Lenders to be contained in any such telephonic or facsimile notice. 
  
 Section 10.2. Waiver; Amendments. 
  
 (a) No failure or delay by the Administrative Agent, the Issuing Bank or any Lender in exercising any right or power
hereunder or any other Loan Document, and no course of dealing between the Borrower and the Administrative Agent or any Lender, shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power or any
abandonment or discontinuance of steps to enforce such right or power, preclude any other or further exercise thereof or the exercise of any other right or power hereunder or thereunder. The rights and remedies of the Administrative Agent, the
Issuing Bank and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies provided by law. No waiver of any provision of this Agreement or any other Loan Document or consent to any
departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which
given. Without limiting the generality of the foregoing, the making of a Loan or the issuance of a Letter of Credit shall not be construed as a waiver of any Default or Event of Default, regardless of whether the Administrative Agent, any Lender or
the Issuing Bank may have had notice or knowledge of such Default or Event of Default at the time. 
  
 (b) No amendment or waiver of any provision of this Agreement or the other Loan Documents, nor consent to any departure by the Borrower therefrom, shall
in any event be effective unless the same shall be in writing and signed by the Borrower and the Required Lenders or the Borrower and the Administrative Agent with the consent of the Required Lenders and then such waiver or consent shall be
effective only in the specific instance and for the specific purpose for which given; provided, that no amendment or waiver shall: (i) increase the Commitment of any Lender without the written consent of such Lender, (ii) reduce the principal
amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written consent of each Lender affected thereby, (iii) postpone the date fixed for any payment of any principal of, or
interest on, any Loan or LC Disbursement or interest thereon or any fees hereunder or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date for the termination or reduction of any Commitment, without the written
consent of each Lender affected thereby, (iv) change Section 2.22 (b) or (c) in a manner that would alter the pro rata sharing of payments required thereby, without the written consent of each Lender, (v) change any of the provisions of this
Section or the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders which are required to waive, amend or modify any rights hereunder or make any determination or grant any consent
hereunder, without the consent of each Lender; (vi) release any guarantor or limit the liability of any such guarantor under any guaranty agreement, without the written consent of each Lender; (vii) release all or substantially all collateral (if
any) securing any of the Obligations or agree to subordinate any Lien in such 
  

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 collateral to any other creditor of the Borrower or any Subsidiary, without the written consent of each Lender;
provided further, that no such agreement shall amend, modify or otherwise affect the rights, duties or obligations of the Administrative Agent, the Swingline Lender or the Issuing Bank without the prior written consent of such Person.
Notwithstanding the foregoing, any provision of this Agreement may be amended by an agreement in writing entered into by the Borrower, the Required Lenders and the Administrative Agent (and, if their rights, duties or obligations are affected
thereby, the Issuing Bank and the Swingline Lender) if (i) by the terms of such agreement the Commitment of each Lender not consenting to the amendment provided for therein shall terminate (but such Lender shall continue to be entitled to the
benefits of Sections 2.19, 2.20, and 2.21 and 10.3) upon the effectiveness of such amendment, (ii) at the time such amendment becomes effective, each Lender not consenting thereto receives payment in full of principal of
and interest accrued on each Loan made by it and all other amounts owing to it or accrued for its account under this Agreement and is released from its obligations hereunder and (iii) the aggregate amount of the Commitments in effect immediately
prior to such amendment shall not be decreased. 
  
 Section
10.3. Expenses; Indemnification. 
  
 (a) The Borrower
shall pay (i) all reasonable, out-of-pocket costs and expenses of the Administrative Agent and its Affiliates, including the reasonable fees, charges and disbursements of counsel for the Administrative Agent and its Affiliates, in connection
with the syndication of the credit facilities provided for herein, the preparation and administration of the Loan Documents and any amendments, modifications or waivers thereof (whether or not the transactions contemplated in this Agreement or any
other Loan Document shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and
(iii) all reasonable out-of-pocket costs and expenses (including, without limitation, the reasonable fees, charges and disbursements of outside counsel) incurred by the Administrative Agent, the Issuing Bank or any Lender in connection with the
enforcement or protection of its rights in connection with this Agreement, including its rights under this Section, or in connection with the Loans made or any Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred
during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 
  
 (b) The Borrower shall indemnify the Administrative Agent, the Issuing Bank and each Lender, and each Related Party of any of the foregoing (each, an
“Indemnitee”) against, and hold each of them harmless from, any and all costs, losses, liabilities, claims, damages and related expenses, including the fees, charges and disbursements of any counsel for any Indemnitee, which
may be 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 or any other agreement or instrument contemplated hereby, the performance by the parties
hereto of their respective obligations hereunder or the consummation of any of the transactions contemplated hereby, (ii) any Loan or Letter of Credit or any actual or proposed use of the proceeds therefrom (including any refusal by the Issuing Bank
to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials
on or from any property owned by the Borrower or any Subsidiary or any 
  

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 Environmental Liability related in any way to the Borrower or any Subsidiary or (iv) any actual or prospective claim,
litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower or any other Loan Party, and regardless of whether any Indemnitee is a
party thereto; provided, that the Borrower shall not be obligated to indemnify any Indemnitee for any of the foregoing arising out of such Indemnitee’s (i) breach of the Loan Documents or (ii) gross negligence or willful misconduct as
determined by a court of competent jurisdiction in a final and nonappealable judgment. No Indemnitee shall be liable for any damages arising from the use by others of information or others obtained through internet, Intralinks®, or other similar transmission services in connection
with this Agreement. 
  
 (c) Reserved. 
  
 (d) To the extent that the Borrower fails to pay any amount required to be
paid to the Administrative Agent, the Issuing Bank or the Swingline Lender under clauses (a), (b) or (c) hereof, each Lender severally agrees to pay to the Administrative Agent, the Issuing Bank or the Swingline Lender, as the case may be, such
Lender’s Pro Rata Share (determined as of the time that the unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided, that the unreimbursed expense or indemnified payment, claim, damage, liability or related
expense, as the case may be, was incurred by or asserted against the Administrative Agent, the Issuing Bank or the Swingline Lender in its capacity as such. 
  
 (e) To the extent permitted by applicable law, the Borrower 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 actual or direct damages) arising out of, in connection with or as a result of, this Agreement or any agreement or instrument contemplated hereby, the transactions
contemplated therein, any Loan or any Letter of Credit or the use of proceeds thereof. 
  
 (f) All amounts due under this Section shall be payable promptly after written demand therefor. 
  
 Section 10.4. Successors and Assigns. 
  
 (a) 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 Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and any attempted assignment or transfer by the Borrower without such
consent 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 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) Any Lender may assign to one or more Eligible Assignees all or a portion of its rights and obligations under this
Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that (i) except in the case of an assignment of the 
  

 73 

 entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it or in the case of
an assignment to a Lender, an Affiliate of a Lender or an Approved Fund with respect to a Lender, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) of the assigning Lender subject to each such
assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to the Administrative Agent) shall not be less than $1,000,000, unless each of the Administrative Agent and, so long as no Event of
Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed), (ii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning
Lender’s rights and obligations under this Agreement with respect to the Loan or the Commitment assigned and (iii) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Acceptance, together with
a processing and recordation fee of $1,000, and the Eligible Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. Upon (i) the execution and delivery of the Assignment and Acceptance by
the assigning Lender and assignee Lender, (ii) acceptance and recording thereof by the Administrative Agent pursuant to paragraph (c) of this Section, (iii) acceptance thereof from the Borrower to the extent required pursuant to this clause (b) and
(iv) if such assignee Lender is a Foreign Lender, compliance by such Person with Section 2.21(e), from and after the effective date specified in each Assignment and Acceptance, the Eligible Assignee thereunder shall be a party hereto and, to
the extent of the interest assigned by such Assignment and Acceptance, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and
Acceptance, be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto
but shall continue to be entitled to the benefits of Sections 2.19, 2.20, 2.21 and 10.3. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall
be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (d) of this Section. 
  
 (c) The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at one of its
offices in Atlanta, Georgia a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amount 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 Borrower, 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.  
  

(d) Any Lender may, without the consent of, or notice to, the Borrower, the Administrative Agent, the Swingline Lender or the Issuing Bank sell
participations to one or more banks or other entities (a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans owing to
it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower,
the Administrative Agent, the Swingline Lender, the Issuing Bank and the other Lenders shall continue to deal solely and directly with 
  

 74 

 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 the following to the extent affecting such Participant:
(i) increase the Commitment of any Lender without the written consent of such Lender, (ii) reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written
consent of each Lender affected thereby, (iii) postpone the date fixed for any payment of any principal of, or interest on, any Loan or LC Disbursement or interest thereon or any fees hereunder or reduce the amount of, waive or excuse any such
payment, or postpone the scheduled date for the termination or reduction of any Commitment, without the written consent of each Lender affected thereby, (iv) change Section 2.22(b) or (c) in a manner that would alter the pro rata
sharing of payments required thereby, without the written consent of each Lender, (v) change any of the provisions of this Section or the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of
Lenders which are required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the consent of each Lender; (vi) release any guarantor or limit the liability of any such guarantor under any
guaranty agreement without the written consent of each Lender except to the extent such release is expressly provided under the terms of the Guaranty Agreement; or (vii) release all or substantially all collateral (if any) securing any of the
Obligations. Subject to paragraph (e) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.19, 2.20, and 2.21 to the same extent as if it were a Lender and had acquired its
interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.7 as though it were a Lender, provided such Participant agrees to be
subject to Section 10.7 as though it were a Lender. 
  
 (e)
A Participant shall not be entitled to receive any greater payment under Section 2.19 and Section 2.21 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 Borrower’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.21 unless the
Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 2.21(e) as though it were a Lender. 
  
 (f) 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 of a
security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
  

 75 

 Section 10.5. Governing Law; Jurisdiction; Consent to Service of Process. 
  
 (a) This Agreement and the other Loan Documents shall be construed in
accordance with and be governed by the law (without giving effect to the conflict of law principles thereof) of the State of Georgia. 
  
 (b) The Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the non-exclusive jurisdiction of the United States
District Court of the Northern District of Georgia, and of any state court of the State of Georgia located in Fulton County 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 the transactions contemplated hereby or thereby, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in such Georgia state court or, to the extent permitted by applicable law, such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and
may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or any other Loan Document shall affect any right that the Administrative Agent, the Issuing Bank or any Lender may
otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against the Borrower or its properties in the courts of any jurisdiction. 
  
 (c) The Borrower irrevocably and unconditionally waives any objection which it may now or hereafter have to the laying of
venue of any such suit, action or proceeding described in paragraph (b) of this Section and brought in any court referred to in paragraph (b) of this Section. Each of the parties hereto 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. 
  
 (d) Each party to this Agreement irrevocably consents to the service of process in the manner provided for notices in Section 10.1. Nothing in this
Agreement or in any other Loan Document will affect the right of any party hereto to serve process in any other manner permitted by law. 
  
 Section 10.6. WAIVER OF JURY TRIAL. EACH PARTY HERETO 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 THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY
HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, AND (B) ACKNOWLEDGES THAT
IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
  

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 Section 10.7. Right of Setoff. In addition to any rights now or hereafter granted under
applicable law and not by way of limitation of any such rights, each Lender and the Issuing Bank shall have the right, at any time or from time to time upon the occurrence and during the continuance of an Event of Default, without prior notice to
the Borrower, any such notice being expressly waived by the Borrower to the extent permitted by applicable law, to set off and apply against all deposits (general or special, time or demand, provisional or final) of the Borrower at any time held or
other obligations at any time owing by such Lender, the Issuing Bank, or any Affiliate of such Lender or the Issuing Bank, to or for the credit or the account of the Borrower against any and all Obligations held by such Lender or the Issuing Bank,
as the case may be, irrespective of whether such Lender or the Issuing Bank shall have made demand hereunder and although such Obligations may be unmatured. Each Lender and the Issuing Bank agree promptly to notify the Administrative Agent and the
Borrower after any such set-off and any application made by such Lender and the Issuing Bank, as the case may be; provided, that the failure to give such notice shall not affect the validity of such set-off and application. Each Lender and
the Issuing Bank agrees to apply all amounts collected from any such set-off to the Obligations before applying such amounts to any other Indebtedness or other obligations owed by the Borrower and any of its Subsidiary to such Lender or Issuing
Bank. 
  
 Section 10.8. Counterparts; Integration.
This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts (including by telecopy), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.
This Agreement, the Fee Letter, the other Loan Documents, and any separate letter agreement(s) relating to any fees payable to the Administrative Agent constitute the entire agreement among the parties hereto and thereto regarding the subject
matters hereof and thereof and supersede all prior agreements and understandings, oral or written, regarding such subject matters. 
  
 Section 10.9. Survival. All covenants, agreements, representations and warranties made by the Borrower herein and in the certificates or
other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement and the making of any Loans and
issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent, the Issuing Bank or any Lender may have had notice or knowledge of any Default or
incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this
Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. The provisions of Sections 2.19, 2.20, 2.21, and 10.3 and Article IX shall survive
and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments or the termination of this Agreement
or any provision hereof. All representations and warranties made herein, in the certificates, reports, notices, and other documents delivered pursuant to this Agreement shall survive the execution and delivery of this Agreement and the other Loan
Documents, and the making of the Loans and the issuance of the Letters of Credit. 
  

 77 

 Section 10.10. Severability. Any provision of this Agreement or any other Loan Document
held to be illegal, invalid or unenforceable in any jurisdiction, shall, as to such jurisdiction, be ineffective to the extent of such illegality, invalidity or unenforceability without affecting the legality, validity or enforceability of the
remaining provisions hereof or thereof; and the illegality, invalidity or unenforceability of a particular provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
  
 Section 10.11. Confidentiality. Each of the Administrative
Agent, the Issuing Bank and each Lender agrees to take normal and reasonable precautions to maintain the confidentiality of any information designated in writing as confidential and provided to it by the Borrower or any Subsidiary, except that such
information may be disclosed (i) to any Related Party of the Administrative Agent, the Issuing Bank or any such Lender, including without limitation accountants, legal counsel and other advisors, (ii) to the extent required by applicable laws or
regulations or by any subpoena or similar legal process, (iii) to the extent requested by any regulatory agency or authority, (iv) to the extent that such information becomes publicly available other than as a result of a breach of this Section, or
which becomes available to the Administrative Agent, the Issuing Bank, any Lender or any Related Party of any of the foregoing on a non-confidential basis from a source other than the Borrower, (v) in connection with the exercise of any remedy
hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder, (vi) subject to provisions substantially similar to this Section 10.11, to any actual or prospective assignee or Participant, or
(vii) with the consent of the Borrower. Any Person required to maintain the confidentiality of any information as provided for in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same
degree of care to maintain the confidentiality of such information as such Person would accord its own confidential information. 
  
 Section 10.12. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any
Loan, together with all fees, charges and other amounts which may be treated as interest on such Loan under applicable law (collectively, the “Charges”), shall exceed the maximum lawful rate of interest (the “Maximum
Rate”) which may be contracted for, charged, taken, received or reserved by a Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in
respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and
the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Rate to the date of
repayment, shall have been received by such Lender. 
  
 Section
10.13. Waiver of Effect of Corporate Seal The Borrower represents and warrants that neither it nor any other Loan Party is required to affix its corporate seal to this Agreement or any other Loan Document pursuant to any requirement of
law or regulation, agrees that this Agreement shall be deemed delivered by Borrower under seal and waives any shortening of the statute of limitations that may result from not affixing the corporate seal to this Agreement or such other Loan
Documents. 
  

 78 

 Section 10.14. Waiver of Notice of Termination Each of the Lenders party to the Existing
Credit Agreement hereby waives (i) the requirement under Section 2.10(b) of the Existing Credit Agreement that the Borrower deliver notice of termination of the Existing Credit Agreement and the Revolving Commitments under the Existing Credit
Agreement to the Administrative Agent three (3) Business Days prior to such termination and (ii) the requirement that the Borrower pay any LIBOR breakage costs that may be due pursuant to Section 2.20 of the Existing Credit Agreement in connection
with such early termination. 
  
 (remainder of page left
intentionally blank) 
  

 79 

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

					
	HUGHES SUPPLY, INC.	 	 
			
	 By:
	 	 /s/ Jay Clark

	 	 L.S.

	 Name:
	 	 Jay Clark
	 	 
	 Title:
	 	 Treasurer
	 	 

  

 80 

			
	 SUNTRUST BANK, as Administrative Agent, as

	 Issuing Bank, as Swingline Lender and as a Lender

		
	 By:
	 	 /s/ William C. Barr, III

	 Name:
	 	 William C. Barr, III

	 Title:
	 	 Director

  

 81 

			
	WACHOVIA BANK, N.A.,
	 as Co-Syndication Agent and as a Lender

		
	 By
	 	 /s/ David L. Driggers

	 Name:
	 	David L. Driggers
	 Title:
	 	Managing Director

  

 82 

			
	 WELLS FARGO BANK, NATIONAL
 ASSOCIATION, as Co-Syndication Agent and as
 a Lender

		
	 By
	 	 /s/ Alex Idichandy

	 Name:
	 	 Alex Idichandy

	 Title:
	 	 Vice President

		
	 By
	 	 /s/ Jennifer D. Barrett

	 Name:
	 	 Jennifer D. Barrett

	 Title:
	 	 Vice President

  

 83 

					
	 LEHMAN COMMERCIAL PAPER,
 INC., as Co-Documentation Agent and as a
 Lender

		
	 By
	 	 /s/ Janine M. Shugan

	 Name:
	 	 Janine M. Shugan

	 Title:
	 	 Authorized Signatory

  

 84 

			
	 BANK OF AMERICA, N.A.
 as Co-Documentation Agent and as a Lender

		
	 By
	 	 /s/ Timothy H. Spanos

	 Name:
	 	 Timothy H. Spanos

	 Title:
	 	 Managing Director

  

 85 

			
	 CITICORP USA, INC., as Managing Agent and

	 as a Lender

		
	 By
	 	 /s/ Kirk P. Lakeman

	 Name:
	 	Kirk P. Lakeman
	 Title:
	 	 Managing Director

  

 86 

			
	 PNC BANK, NATIONAL ASSOCIATION,
 as a Lender

		
	 By
	 	 /s/ Enrico A. Della Corna

	 Name:
	 	Enrico A. Della Corna
	 Title:
	 	Managing Director

  

 87 

			
	 THE FIFTH THIRD BANK,
 as a Lender

		
	 By
	 	 /s/ Andrew Buschue

	 Name:
	 	 Andrew Buschue

	 Title:
	 	 Vice President

  

 88 

			
	 COMMERCEBANK, NATIONAL
 ASSOCIATION, as a Lender

		
	 By
	 	 /s/ Alan L. Hills

	 Name:
	 	 Alan L. Hills

	 Title:
	 	 Vice President

  

 89 

			
	 SOUTHTRUST BANK, as a Lender

		
	 By
	 	 /s/ Todd H. Banes

	 Name:
	 	 Todd H. Banes

	 Title:
	 	 Group Vice President

  

 90 

			
	US BANK, NATIONAL ASSOCIATION,
	 as a Lender

		
	 By
	 	 /s/ Richard J. Popp

	 Name:
	 	 Richard J. Popp

	 Title:
	 	 Vice President

  

 91 

			
	ISRAEL DISCOUNT BANK OF NEW YORK,
	 as a Lender

		
	 By
	 	 /s/ David Keinan

	 Name:
	 	 David Keinan

	 Title:
	 	 Senior Vice President
 Regional Manager for Florida

		
	 By
	 	 /s/ Roberto R. Munoz

	 Name:
	 	 Roberto R. Munoz

	 Title:
	 	 Senior Vice President

	 	 	 Chief Lending Officer for Florida

  

 92 

			
	 BNP PARIBAS, as a Lender

		
	 By
	 	 /s/ Craig Pierce

	 Name:
	 	 Craig Pierce

	 Title:
	 	 Vice President

		
	 By
	 	 /s/ Aurora Abella

	 Name:
	 	 Aurora Abella

	 Title:
	 	 Vice President

  

 93 

 ANNEX I 
  
 Revolving Commitments 
  

						
	 Institution

	  	 Title

	  	Commitment

	 SunTrust Bank
	  	Administrative Agent,	  	$	60,000,000
	 Lehman Commercial Paper, Inc.
	  	Co-Documentation Agent	  	$	50,000,000
	 Wachovia Bank, N.A.
	  	Co-Syndication Agent	  	$	50,000,000
	 Wells Fargo Bank, National Association
	  	Co-Syndication Agent	  	$	50,000,000
	 Bank of America, N.A.
	  	Co-Documentation Agent	  	$	45,000,000
	 Citicorp USA
	  	Managing Agent	  	$	45,000,000
	 BNP Paribas
	  	 	  	$	40,000,000
	 PNC National Association
	  	 	  	$	40,000,000
	 SouthTrust Bank
	  	 	  	$	40,000,000
	 US Bank, National Assoication
	  	 	  	$	30,000,000
	 The Fifth Third Bank
	  	 	  	$	25,000,000
	 CommerceBank, National Association
	  	 	  	$	15,000,000
	 Israel Discount Bank of New York
	  	 	  	$	10,000,000
	 	  	 	  	
	

	 Total
	  	 	  	$	500,000,000
	 	  	 	  	
	

  

 94 

 Schedule I 
  

APPLICABLE MARGIN AND APPLICABLE PERCENTAGE 
  
 PART A – LEVERAGE RATIO 
  

									
	 Pricing
 Level

	  	 Leverage
 Ratio

	  	 Applicable
 Margin for
 LIBOR

	  	 Applicable
 Margin for
 Base Rate

	  	 Applicable Percentage
 for Commitment Fee

	 I
	  	Less than 0.35:1.00	  	0.75% per annum	  	0.00% per annum	  	0.15% per annum
	 II
	  	Greater than or equal to 0.35:1.00 but less than 0.40:1.00	  	0.875% per annum	  	0.00% per annum	  	0.20% per annum
	 III
	  	Greater than or equal to 0.40:1.00 but less than 0.45:1.00	  	1.00% per annum	  	0.00% per annum	  	0.25% per annum
	 IV
	  	Greater than or equal to 0.45:1.00 but less than 0.50:1.00	  	1.125% per annum	  	0.00% per annum	  	0.25% per annum
	 V
	  	Greater than or equal to 0.50:1.00	  	1.375% per annum	  	0.00% per annum	  	0.30% per annum

  
 PART B – SENIOR UNSECURED DEBT
RATING 
  

									
	 Pricing
 Level

	  	 Rating Category

	  	 Applicable
 Margin for
 LIBOR

	  	 Applicable
 Margin for
 Base Rate

	  	 Applicable Percentage
 for Commitment Fee

	 I
	  	3BBB+/Baa1	  	0.625% per annum	  	0.00% per annum	  	0.150% per annum
	 II
	  	BBB/Baa2	  	0.750% per annum	  	0.00% per annum	  	0.150% per annum
	 III
	  	BBB-/Baa3	  	0.875% per annum	  	0.00% per annum	  	0.175% per annum
	 IV
	  	BB+/Ba1	  	1.250% per annum	  	0.00% per annum	  	0.250% per annum
	 V
	  	£BB/Ba2	  	1.750% per annum	  	0.25% per annum	  	0.375% per annum

  
 The credit ratings to be utilized for
purposes of Part B of this Schedule I are those assigned to the senior, unsecured long-term debt securities of the Borrower without third-party credit enhancement, whether or not any such debt securities are actually outstanding, and any rating
assigned to any other debt security of the Borrower shall be disregarded. The rating in effect on any date is that in effect at the close of business on such date. If the Borrower is split-rated and (1) the ratings differential is one category, the
higher of the two ratings will apply (e.g., 

 BBB/Baa2 results in Level I status) or (2) the ratings differential is more than one category, the rate shall be
determined by reference to the category next above that of the lower of the two ratings (e.g., BBB/Baa3, then the rate would be based on Level II status). If the Borrower is not rated by either Moody’s or S&P, then the rate shall be
established by reference to the Leverage Ratio of the Borrower as set forth in Part A of this Schedule 1. 
  
 If the rating system of Moody’s or S&P shall change, or if either rating agency shall cease to be in the business of rating corporate debt obligations, the Borrower, the Lenders and the Administrative Agent
shall negotiate in good faith to amend this Schedule to reflect such changed rating system or the unavailability of ratings from such rating agency and, pending the effectiveness of any such amendment, the Applicable Margin and the Applicable
Percentage shall be determined by reference to the rating most recently in effect prior to any such change or cessation. If after a reasonable time the parties cannot agree to a mutually acceptable amendment, the Applicable Margin and the Applicable
Percentage shall be determined by reference to the Leverage Ratio of the Borrower as set forth in Part A of this Schedule 1. 
  

 2

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