Document:

Credit Agreement

 Exhibit 4.1 
  

CREDIT AGREEMENT 
  
 dated as of June 24, 2003 
  
 among 
  
 TECO ENERGY, INC., 
 a Florida corporation 
 (Borrower) 
  
 and 
  
 BAYERISCHE HYPO- UND VEREINSBANK AG, 
 NEW YORK BRANCH 
 (Administrative Agent and Co-Lead Arranger) 
  
 and 
  
 DEXIA CREDIT LOCAL, NEW
YORK AGENCY 
 (Co-Lead Arranger and Syndication Agent) 
  
 and 
  
 BMO NESBITT BURNS FINANCING, INC. 
 (Arranger)

  
 and 
  
 ROYAL BANK OF CANADA 
 (Arranger) 

 TABLE OF CONTENTS 
  

	 ARTICLE I. DEFINITIONS
	  	1
			
	     1.1
	  	 Definitions.
	  	1
	     1.2
	  	 Rules of Interpretation.
	  	1
		
	 ARTICLE II. THE TERM LOAN
	  	1
			
	     2.1
	  	 Term Loan
	  	1
	     2.2
	  	 Interest Provisions
	  	2
	     2.3
	  	 Conversion of Loan Type
	  	4
	     2.4
	  	 Loan Principal Payment
	  	5
	     2.5
	  	 Promissory Notes
	  	5
	     2.6
	  	 Prepayments
	  	6
	     2.7
	  	 Fees
	  	6
	     2.8
	  	 Other Payment Terms
	  	6
	     2.9
	  	 Pro Rata Treatment
	  	10
	     2.10
	  	 Change of Circumstances
	  	10
	     2.11
	  	 Funding Losses
	  	12
	     2.12
	  	 Alternate Office, Minimization of Costs
	  	13
		
	 ARTICLE III. CONDITIONS PRECEDENT
	  	14
			
	     3.1
	  	 Conditions to the Closing Date
	  	14
	     3.2
	  	 Conditions to the Loan Commitment and Loan
	  	15
		
	 ARTICLE IV. REPRESENTATIONS AND WARRANTIES
	  	16
			
	     4.1
	  	 Corporate Existence and Business
	  	16
	     4.2
	  	 Power and Authorization; Enforceable Obligations
	  	17
	     4.3
	  	 No Legal Bar
	  	17
	     4.4
	  	 No Proceeding, Litigation or Investigation
	  	17
	     4.5
	  	 Governmental Approvals
	  	17
	     4.6
	  	 Financial Statements
	  	18
	     4.7
	  	 True and Complete Disclosure
	  	18
	     4.8
	  	 Investment Company Act; PUHCA
	  	18
	     4.9
	  	 Compliance with Law
	  	18
	     4.10
	  	 ERISA
	  	18
	     4.11
	  	 Solvency
	  	19
	     4.12
	  	 Filings; Collateral
	  	19
	     4.13
	  	 Margin Stock
	  	19
		
	 ARTICLE V. COVENANTS OF BORROWER
	  	19
			
	     5.1
	  	 Existence
	  	19
	     5.2
	  	 Consents, Legal Compliance
	  	19
	     5.3
	  	 Prohibition of Certain Transfers
	  	20
	     5.4
	  	 Payment and Performance of Material Obligations
	  	21
	     5.5
	  	 Taxes
	  	21
	     5.6
	  	 Maintenance of Property, Insurance
	  	21
	     5.7
	  	 Compliance with Laws, Etc.
	  	22
	     5.8
	  	 No Change in Business
	  	22
	     5.9
	  	 Financial Statements
	  	22
	     5.10
	  	 Notices
	  	23
	     5.11
	  	 Other Reports
	  	23
	     5.12
	  	 Performance of Obligations
	  	24

  

 i 

	     5.13
	  	 Financial Covenants
	  	24
	     5.14
	  	 Indemnification
	  	24
	     5.15
	  	 Further Assurances
	  	26
	     5.16
	  	 Federal Regulations
	  	27
		
	 ARTICLE VI. EVENTS OF DEFAULT; REMEDIES
	  	27
			
	     6.1
	  	 Events of Default
	  	27
	     6.2
	  	 Remedies
	  	29
		
	 ARTICLE VII. ADMINISTRATIVE AGENT, SUBSTITUTION, AMENDMENTS, ETC.
	  	30
			
	     7.1
	  	 Appointment, Powers and Immunities
	  	30
	     7.2
	  	 Reliance
	  	31
	     7.3
	  	 Non-Reliance
	  	31
	     7.4
	  	 Defaults
	  	31
	     7.5
	  	 Indemnification
	  	32
	     7.6
	  	 Successor Administrative Agent
	  	32
	     7.7
	  	 Authorization
	  	33
	     7.8
	  	 Administrative Agent’s Other Roles
	  	33
	     7.9
	  	 Amendments; Waivers
	  	33
	     7.10
	  	 Withholding Tax
	  	34
	     7.11
	  	 General Provisions as to Payments
	  	34
	     7.12
	  	 Substitution of Lender
	  	34
	     7.13
	  	 Participations
	  	35
	     7.14
	  	 Transfer of Loans and Notes
	  	35
	     7.15
	  	 Laws
	  	36
	     7.16
	  	 Assignability as Collateral
	  	36
		
	 ARTICLE VIII. MISCELLANEOUS
	  	36
			
	     8.1
	  	 Addresses
	  	36
	     8.2
	  	 Additional Security; Right to Set-Off
	  	37
	     8.3
	  	 Delay and Waiver
	  	38
	     8.4
	  	 Costs, Expenses and Attorneys’ Fees
	  	38
	     8.5
	  	 Entire Agreement
	  	38
	     8.6
	  	 Governing Law
	  	39
	     8.7
	  	 Severability
	  	39
	     8.8
	  	 Headings
	  	39
	     8.9
	  	 Accounting Terms
	  	39
	     8.10
	  	 No Partnership, Etc.
	  	39
	     8.11
	  	 Limitation on Liability
	  	39
	     8.12
	  	 Waiver of Jury Trial
	  	39
	     8.13
	  	 Consent to Jurisdiction
	  	40
	     8.14
	  	 Knowledge and Attribution
	  	40
	     8.15
	  	 Successors and Assigns
	  	40
	     8.16
	  	 Counterparts
	  	40

  

 ii 

 INDEX OF SCHEDULES AND EXHIBITS 
  

		
	 Schedule 1
	  	 Lenders, Lending Offices and Proportionate Shares

		
	 Schedule 5.3
	  	 Exceptions to Prohibition on Liens

		
	 Exhibit A
	  	 Definitions and Rules of Interpretation

		
	 Exhibit B
	  	 Form of Note

		
	 Exhibit C-1
	  	 Form of Notice of Borrowing

	 Exhibit C-2
	  	 Form of Notice of Conversion of Loan Type

	 Exhibit C-3
	  	 Form of Confirmation of Interest Period Selection

		
	 Exhibit D
	  	 Form of Borrower’s Closing Certificate

		
	 Exhibit E
	  	 Form of Pledge Agreement

		
	 Exhibit F
	  	 Form of TPS Guaranty

  

 iii 

 This CREDIT AGREEMENT (this “Agreement”), dated as of June 24, 2003, is entered into
among TECO ENERGY, INC., a Florida corporation (“Borrower”), BAYERISCHE HYPO-UND VEREINSBANK AG, NEW YORK BRANCH, as administrative agent for the Lenders (in such capacity, “Administrative Agent”), and the financial
institutions listed on Schedule 1 or who later become a party hereto (the “Lenders”). 
  
 RECITALS 
  
 A. Borrower desires to obtain financing for a portion of the purchase price for the aggregate 50% interest of Panda GS V, LLC and Panda GS VI, LLC in TECO-Panda Generating Company, L.P. (“TPGC”). In connection therewith,
the Borrower has requested that the Lenders provide such financing to Borrower. 
  
 B. The Lenders are willing to provide to Borrower up to a $37,500,000 secured term loan upon the terms and subject to the conditions set forth herein. 
  
 AGREEMENT 
  
 NOW, THEREFORE, in consideration of the agreements herein and in the other Credit Documents and in reliance upon the representations and warranties set
forth herein and therein, the parties agree as follows: 
  
 ARTICLE I. 
 DEFINITIONS 
  
 1.1 Definitions. 
  
 Except as otherwise expressly provided, capitalized terms used in this Agreement and its exhibits shall have the meanings given in Exhibit A. 

 
 1.2 Rules of Interpretation. 
  
 Except as otherwise expressly provided, the Rules of Interpretation set
forth in Exhibit A shall apply to this Agreement and the other Credit Documents. 
  
 ARTICLE II. 
 THE TERM LOAN 
  
 2.1 Term Loan. 
  
 2.1.1 Loan Commitment. Subject to the terms and conditions set forth in this Agreement, on the date specified in the Notice of Borrowing and
notified to each Lender pursuant to Section 2.1.3(a), each Lender severally agrees to lend to Borrower such Lender’s Proportionate Share of an aggregate term loan of up to $37,500,000 (the “Loan”). Until the conditions set
forth in Section 3.2 are satisfied, the foregoing commitment shall have no force or effect. If the Loan is not made prior to July 31, 2003, the commitment set forth in this Section 2.1.1(a) shall expire and the Lenders shall not be obligated to make
the Loan. 

 2.1.2 Notice of Borrowing. Borrower shall request the Loan by delivering to Administrative Agent
an irrevocable written notice in the form of Exhibit C-l, appropriately completed (a “Notice of Borrowing”), not less than three days prior to Borrower’s desired funding date (or, if the Loan will be solely Base Rate
Loans, not later than the day prior to such funding date) which specifies: 
  
 (a) The principal portion of the Loan which will bear interest as provided in (i) Section 2.1.2(a) (individually, a “Base Rate Loan”) and (ii) Section 2.1.2(b) (individually, a “LIBOR
Loan”); 
  
 (b) The amount of the Loan; 
  
 (c) The date of the Loan, which shall be a Banking Day no later than July
31, 2003; and 
  
 (d) The account(s) to which the proceeds of the
Loan are to be deposited. 
  
 2.1.3 Loan Funding.

  
 (a) Notice. Administrative Agent shall promptly notify
each Lender of the contents of the Notice of Borrowing. 
  
 (b)
Pro Rata Loans. The Loan shall be made on a pro rata basis by the Lenders in accordance with their respective Proportionate Shares. 
  
 (c) Lender Funding. Each Lender shall, on the date of the Loan, before 12:00 noon in the case of LIBOR Loans and 2:00 p.m. in the case of Base Rate
Loans, in each case, make available to Administrative Agent at its office specified in Section 8.1, in same day funds, such Lender’s Proportionate Share of the Loan. The failure of any Lender to make its Proportionate Share of the Loan shall
not relieve any other Lender of its obligation hereunder to make its Proportionate Share of the Loan. No Lender shall be responsible for the failure of any other Lender to make the Loan to be made by such other Lender. 
  
 (d) Loan Funding. No later than 2:00 p.m. in the case of LIBOR Loans
and 3:00 p.m. in the case of Base Rate Loans, on the date specified in the Notice of Borrowing, if the applicable conditions precedent listed in Article III have been satisfied or waived and to the extent Administrative Agent shall have received the
appropriate funds from the Lenders, Administrative Agent shall make available the Loan requested in such Notice of Borrowing in Dollars and in immediately available funds, at Administrative Agent’s New York Branch, and shall transfer such funds
to the bank account(s) specified by Borrower in the Notice of Borrowing. 
  
 2.1.4 Use of Proceeds. Borrower shall use the proceeds of the Loan solely toward acquisition of the Purchased Interests, including transaction costs in connection therewith. 
  
 2.2 Interest Provisions. 
  

 2 

 2.2.1 Interest Rates. Borrower shall pay interest on the unpaid principal amount of the Loan from
the date of the Loan until the Maturity Date (or until the prepayment by Borrower to the Administrative Agent of the full principal amount and all applicable interest, fees and other payments under this Agreement) at one of the following rates:

  
 (a) During such periods as the Loan is a Base Rate Loan, at a
rate per annum equal to the Base Rate plus the Applicable Margin, such rate to change from time to time as the Base Rate shall change; and 
  
 (b) During such periods as the Loan is a LIBOR Loan, at a rate per annum during each Interest Period equal to the LIBOR Rate for such Interest Period plus
the Applicable Margin. 
  
 2.2.2 Type of Loan. Unless
otherwise specified by Borrower in a Notice of Conversion of Loan Type and except as otherwise provided for herein, the Loan shall be a Base Rate Loan. Borrower shall not request, and the Lenders shall not be obligated to make, LIBOR Loans at any
time an Inchoate Default or Event of Default exists. If an Event of Default exists at the end of an Interest Period, any LIBOR Loan shall automatically convert to a Base Rate Loan at such time. 
  
 2.2.3 Interest Payment Dates. Borrower shall pay accrued interest on
the unpaid principal amount of the Loan (a) when it is a Base Rate Loan, on the last Banking Day of each calendar quarter, (b) when it is a LIBOR Loan, on the last day of each Interest Period related to the LIBOR Loan and, with respect to Interest
Periods longer than three months, the last Banking Day of each calendar quarter, and (c) in all cases, upon prepayment (to the extent thereof and including any optional prepayments), upon conversion from one Type of Loan to another Type and at
maturity (whether by acceleration or otherwise). 
  
 2.2.4
Interest Periods. 
  
 (a) The Interest Period selected by
Borrower during a period in which the Loan is a LIBOR Loan shall be one, two, three or six months or such other period as close to six months as is practicable to enable Borrower to comply with clause (i) of the next sentence. Notwithstanding
anything to the contrary in the previous sentence, (i) any Interest Period which would otherwise end on a day which is not a Banking Day shall be extended to the next succeeding Banking Day unless such next Banking Day falls in another calendar
month, in which case such Interest Period shall end on the immediately preceding Banking Day, (ii) any Interest Period which begins on the last Banking 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 Banking Day of the next calendar month, and (iii) any Interest Period which would otherwise end after the Maturity Date shall end on the Maturity Date. 
  
 (b) Borrower may contact Administrative Agent at any time prior to the end
of an Interest Period for a quotation of interest rates in effect at such time for given Interest Periods and Administrative Agent shall promptly provide such quotation. Borrower may select an Interest Period telephonically, which selection shall be
irrevocable on and after commencement of the applicable Minimum Notice Period. Borrower shall confirm such 
  

 3 

 telephonic notice to Administrative Agent by telecopy on the day such notice is given (in substantially the form of
Exhibit C-3, a “Confirmation of Interest Period Selection”) and Administrative Agent shall promptly forward the same to the Lenders. Borrower shall promptly deliver to Administrative Agent the original of the Confirmation of
Interest Period Selection initially delivered by telecopy. If Borrower fails to notify Administrative Agent of the next Interest Period while the Loan is a LIBOR Loan in accordance with this Section 2.2.4(b), the Loan shall automatically convert to
a Base Rate Loan on the last day of the current Interest Period. Administrative Agent shall as soon as practicable (and, in any case, within two Banking Days after delivery of the Confirmation of Interest Period Selection by telecopy as provided
above) notify Borrower of the determination of the interest rate applicable to the Loan. 
  
 2.2.5 Interest Account and Interest Computations. Borrower authorizes Administrative Agent to record in an account or accounts maintained by Administrative Agent on its books (a) the interest rate applicable to
the Loan and the effective dates of all changes thereto, (b) the Interest Period for the Loan while it is a LIBOR Loan, (c) the date and amount of each principal and interest payment on the Loan, and (d) such other information as Administrative
Agent may determine is necessary for the computation of interest payable by Borrower hereunder. Borrower agrees that all computations by Administrative Agent of interest shall be conclusive in the absence of demonstrable error. All computations of
interest on the Loan while it is a Base Rate Loan shall be based upon a year of 365 or 366 days and the actual days elapsed since the last interest payment date, and shall be adjusted in accordance with any changes in the Base Rate to take effect on
the beginning of the day of such change in the Base Rate. All computations of interest on the Loan while it is a LIBOR Loan shall be based upon a year of 360 days and the actual days elapsed. 
  
 2.3 Conversion of Loan Type. Borrower may convert the Loan from one
Type of Loan to another Type; provided, however, that conversion of the Loan from a LIBOR Loan into a Base Rate Loan shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loan. Borrower
shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit C-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: 
  
 (a) The Type into which the Loan is to be converted; 
  
 (b) If the Loan is to be converted into a LIBOR Loan, the initial Interest
Period selected by Borrower for the Loan in accordance with Section 2.2.4(b); and 
  
 (c) The date of the requested conversion, which shall be a Banking Day. 
  
 Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by
Borrower before the commencement of the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy
number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type 
  

 4 

 initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of
Conversion of Loan Type. 
  
 2.4 Loan Principal Payment.

  
 2.4.1 Normal Amortization. Borrower shall repay to
Administrative Agent, for the account of the Lenders, the principal of the Loan on or prior to the following dates in the following aggregate principal amounts, in each case together with all interest accrued on the repaid amount, and all fees and
costs due and payable on such date. 
  

	 Date

	  	 Repayment Amount

	 January 5, 2004
	  	$12,000,000
	 Maturity Date
	  	$25,500,000 or, if different, remaining principal balance of Loan

  
 2.4.2 Accelerated
Amortization. Notwithstanding the provisions of Section 2.4.1, in the event that at any time Borrower’s long term senior unsecured non credit enhanced debt is rated less than BBB- by S&P or Baa3 by Moody’s, then Borrower
shall repay to Administrative Agent, for the account of the Lenders, the principal of the Loan on or prior to the following dates in the following aggregate principal amounts, in each case together with all interest accrued on the repaid amount, and
all fees and costs due and payable on such date. For the avoidance of doubt, in the event that such rating is thereafter increased to at least BBB- by S&P and Baa3 by Moody’s, then the amortization schedule shall revert to that shown in
Section 2.4.1 (without effect on any principal amounts already paid). 
  

	 Date

	  	 Repayment Amount

	 January 5, 2004
	  	$20,000,000
	 March 31, 2004
	  	$10,000,000
	 Maturity Date
	  	$  7,500,000 or, if different, remaining principal balance of Loan

  
 2.4.3 Return of
Notes. From and after the Maturity Date, upon payment in full of the principal amount of the Loan, and of all accrued and unpaid interest thereon and all other amounts owed by Borrower to Administrative Agent or the Lenders hereunder and under
the other Credit Documents, the Lenders shall promptly mark any Notes cancelled and return such cancelled Notes to Borrower. 
  
 2.5 Promissory Notes. The obligation of Borrower to repay the Loan made by each Lender and to pay interest thereon at the rates provided herein
shall be evidenced by Notes in the form of Exhibit B (each, a “Note”), each payable to the order of such Lender and in the principal amount of such Lender’s Loan. Borrower authorizes each Lender to record on the schedule
annexed to such Lender’s Note or Notes, and/or in the Lender’s internal records, the date and amount of the Loan made by such Lender, and each payment or prepayment of principal thereunder and agrees that all such notations shall
constitute prima facie evidence of the matters noted. Borrower further authorizes each Lender to attach to and make a part of such Lender’s Note or Notes continuations of the schedule attached thereto as necessary. No failure to make

  

 5 

 any such notations, nor any errors in making any such notations shall affect the validity of Borrower’s obligation
to repay the full unpaid principal amount of the Loan or the duties of Borrower hereunder or thereunder. 
  
 2.6 Prepayments. 
  
 2.6.1 Terms of all Prepayments. Upon the prepayment of the Loan, Borrower shall pay to Administrative Agent for the account of the Lender which
made the Loan (a) all accrued interest to the date of such prepayment on the amount prepaid and (b) if such prepayment is the prepayment of a LIBOR Loan on a day other than the last day of an Interest Period for such LIBOR Loan, all Liquidation
Costs incurred by such Lender as a result of such prepayment (pursuant to the terms of Section 2.11). All repayments and prepayments permanently reduce the principal amount of the Loan and may not be re-drawn hereunder. 
  
 2.6.2 Optional Prepayments. Subject to Section 2.6.1, Borrower may,
at its option and without penalty, upon three Banking Days’ notice to Administrative Agent, prepay the Loan in whole or in part in an amount of $1,000,000 or an integral multiple of $1,000,000 in excess thereof (except in the case of a
prepayment of the entire Loan). 
  
 2.7 Fees. 

 
 2.7.1 Up-Front Fee. On the Closing Date, Borrower shall pay to
Administrative Agent, for the benefit of the Lenders pro rata in accordance with their respective Proportionate Shares, an up-front fee of $281,250. 
  
 2.7.2 Annual Agency Fee. On the Closing Date and each anniversary thereof, Borrower shall pay to Administrative Agent solely for the account of
Administrative Agent, a nonrefundable agency fee in an amount set forth in the letter agreement between Borrower and Administrative Agent, dated the date hereof. 
  
 2.8 Other Payment Terms. 
  
 2.8.1 Place and Manner. Borrower shall make all payments due to each Lender hereunder to Administrative Agent, for the account of such Lender, to
Bayerische Hypo- Und Vereinsbank AG, New York Branch, ABA No. 026 008 808, Account No. 594 004685 4055 08, in lawful money of the United States and in immediately available funds not later than 12:00 noon, on the date on which such payment is due.
Any payment received after such time on any day shall be deemed received on the Banking Day after such payment is received. Administrative Agent shall disburse to each Lender each such payment received by Administrative Agent for such Lender, such
disbursement to occur on the day such payment is received if received by 12:00 noon, otherwise on the next Banking Day. 
  
 2.8.2 Date. Whenever any payment due hereunder shall fall due on a day other than a Banking Day, such payment shall be made on the next succeeding
Banking Day, and such extension of time shall be included in the computation of interest or fees, as the case may be, without duplication of any interest or fees so paid in the next subsequent calculation of interest or fees payable. 
  

 6 

 2.8.3 Late Payments; Default Rate. If any amounts required to be paid by Borrower under this
Agreement or the other Credit Documents (including principal or interest payable on the Loan, and any fees or other amounts otherwise payable to Administrative Agent or any Lender) remain unpaid after such overdue amounts are due, Borrower shall pay
interest (including following any Bankruptcy Event with respect to Borrower) on the aggregate, outstanding balance of such amounts from the date due until those amounts are paid in full at a per annum rate equal to the Default Rate. During the
existence of any Default or Event of Default, Borrower shall pay interest on all Loans at the Default Rate. To the extent any Loans remain unpaid after the Maturity Date, the applicable Default Rate on such Loans shall increase by 1% per month for
each month that such Loans remain unpaid. 
  
 2.8.4 Net of
Taxes, Etc. 
  
 (a) Taxes. Subject to each
Lender’s compliance with Section 2.8.7, any and all payments to or for the benefit of Administrative Agent or any Lender by Borrower hereunder or under any other Credit Document shall be made free and clear of and without deduction, setoff or
counterclaim of any kind whatsoever and in such amounts as may be necessary in order that all such payments, after deduction for or on account of any present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities
with respect thereto (excluding income and franchise taxes, which include taxes imposed on or measured by the net income, net profits or capital of Administrative Agent or such Lender by any jurisdiction or any political subdivision or taxing
authority thereof or therein as a result of a connection between such Lender and such jurisdiction or political subdivision, unless such connection results solely from such Lender’s executing, delivering or performing its obligations or
receiving a payment under, or enforcing, this Agreement or any Note) (all such non-excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities being hereinafter referred to as “Taxes”), shall be equal to the
amounts otherwise specified to be paid under this Agreement and the other Credit Documents. If Borrower shall be required by law to withhold or deduct any Taxes from or in respect of any sum payable hereunder or under any other Credit Document to
Administrative Agent or any Lender, (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.8.4), Administrative Agent
or such Lender receives an amount equal to the sum it would have received had no such deductions been made, (ii) Borrower shall make such deductions, and (iii) Borrower shall pay the full amount deducted to the relevant taxation authority or other
authority in accordance with applicable law. In addition, Borrower agrees to pay any present or future stamp, recording or documentary taxes and any other excise or property taxes, charges or similar levies (not including income or franchise taxes)
that arise under the laws of the United States of America, the State of New York or the State of Florida from any payment made hereunder or under any other Credit Document or from the execution or delivery or otherwise with respect to this Agreement
or any other Credit Document (hereinafter referred to as “Other Taxes”). 
  
 (b) Indemnity. Borrower shall indemnify each Lender for and hold it harmless against the full amount of Taxes and Other Taxes (including any Taxes or Other Taxes imposed by any jurisdiction on amounts payable
under this Section 2.8.4) paid by any Lender, or any liability (including penalties, interest and expenses) arising therefrom or with respect thereto, 
  

 7 

 whether or not such Taxes or Other Taxes were correctly or legally asserted; provided that Borrower shall not be
obligated to indemnify any Lender for any penalties, interest or expenses relating to Taxes or Other Taxes arising from such Lender’s gross negligence or willful misconduct. Each Lender agrees to give notice to Borrower of the assertion of any
claim against such Lender relating to such Taxes or Other Taxes as promptly as is practicable after being notified of such assertion, and in no event later than 90 days after the principal officer of such Lender responsible for administering this
Agreement obtains knowledge thereof; provided that any Lender’s failure to notify Borrower of such assertion within such 90-day period shall not relieve Borrower of its obligation under this Section 2.8.4 with respect to Taxes or Other Taxes,
penalties, interest or expenses arising prior to the end of such period, but shall relieve Borrower of its obligations under this Section 2.8.4 with respect to Taxes and Other Taxes, penalties, interest or expenses accruing between the end of such
period and such time as Borrower receives notice from such Lender as provided herein. Payments by Borrower pursuant to this indemnification shall be made within 30 days from the date such Lender makes written demand therefor (submitted through
Administrative Agent), which demand shall be accompanied by a certificate describing in reasonable detail the basis thereof. 
  
 (c) Notice. Within 30 days after the date of any payment of Taxes by Borrower, Borrower shall furnish to Administrative Agent, at its address
referred to in Section 8.1, the original or a certified copy of a receipt evidencing payment thereof or if such receipt is not obtainable, other evidence of such payment by Borrower reasonably satisfactory to Administrative Agent. Borrower shall
compensate each Lender for all reasonable losses and expenses sustained by such Lender as a result of any failure by Borrower to so furnish such copy of such receipt. 
  
 (d) Conduits. Notwithstanding anything to the contrary contained in this Section 2.8.4, if a Lender is a conduit
entity participating in a conduit financing arrangement (as defined in Section 7701(1) of the Code and the Treasury Regulations issued thereunder) then with respect to any payments made by Borrower under this Agreement or under any Note, Borrower
shall not be obligated to pay additional amounts to such Lender pursuant to this Section 2.8.4 to the extent that the amount of United States Taxes exceeds the amount that would have otherwise been payable if such Lender were not a conduit entity
participating in a conduit financing arrangement. 
  
 (e)
Survival of Credit Agreement Obligations. The obligations of Borrower under this Section 2.8.4 shall survive the termination of this Agreement and the repayment of the Obligations. 
  
 2.8.5 Application of Payments. Payments made under this Agreement or
the other Credit Documents shall (a) first be applied to any fees, costs, charges or expenses due and payable to Administrative Agent and the Lenders hereunder or under the other Credit Documents, (b) next to any accrued but unpaid interest then due
and owing, and (c) then to outstanding principal then due and payable or otherwise to be prepaid. 
  
 2.8.6 Failure to Pay Administrative Agent. Unless Administrative Agent shall have received notice from Borrower at least two Banking Days prior to
the date on which any 
  

 8 

 payment is due to the Lenders hereunder that Borrower will not make such payment in full, Administrative Agent may assume
that Borrower has made such payment in full to Administrative Agent on such date and Administrative Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due such
Lender. If and to the extent Borrower shall not have so made such payment in full to Administrative Agent, such Lender shall repay to Administrative Agent forthwith upon demand such amount distributed to such Lender, together with interest thereon,
for each day from the date such amount is distributed to such Lender until the date such Lender repays such amount to Administrative Agent, at the Federal Funds Rate for the first five days after such date, and subsequent thereto at the Base Rate. A
certificate of Administrative Agent submitted to any Lender with respect to any amounts owing by such Lender under this Section 2.8.6 shall be conclusive in the absence of demonstrable error. 
  
 2.8.7 Withholding Exemption Certificates. Administrative Agent on the
Closing Date and each Lender upon becoming a Lender hereunder including any entity to which any Lender grants a participation or otherwise transfers its interest in this Agreement agrees that it will deliver to Administrative Agent and Borrower
either (a) a statement that it is formed under the laws of the United States of America or a state thereof, or (b) if it is not so incorporated, two duly completed copies of United States Internal Revenue Service Form W-8ECI or W-8BEN or successor
applicable form, as the case may be, certifying in each case that such Lender is entitled to receive payments under this Agreement without deduction or withholding of any United States federal income taxes. Each Lender which delivers to Borrower and
Administrative Agent a Form W-8ECI or W-8BEN pursuant to the preceding sentence further undertakes to deliver to Borrower and Administrative Agent further copies of the said letter and Form W-8ECI or W-8BEN, or successor applicable forms, or other
manner of certification or procedure, as the case may be, on or before the date that any such letter or form expires or becomes obsolete or within a reasonable time after gaining knowledge of the occurrence of any event requiring a change in the
most recent letter and forms previously delivered by it to Borrower, and such extensions or renewals thereof as may reasonably be requested by Borrower, certifying in the case of a Form W-8ECI or W-8BEN that such Lender is entitled to receive
payments under this Agreement without deduction or withholding of any United States federal income taxes, unless in any such cases an event (including any change in any treaty, law or regulation) has occurred prior to the date on which any such
delivery would otherwise be required which renders all such forms inapplicable or which would reasonably prevent a Lender from duly completing and delivering any such letter or form with respect to it and such Lender advises Borrower that it is not
capable of receiving payments without any deduction or withholding of United States federal income tax, and in the case of Form W-8ECI or W-8BEN, establishing an exemption from United States backup withholding tax. Borrower shall not be obligated,
however, to pay any additional amounts in respect of United States Federal income tax pursuant to Section 2.8.4(a) (or make an indemnification payment pursuant to Section 2.8.4(b)) to any Lender (including any entity to which any Lender sells,
assigns, grants a participation in, or otherwise transfers its rights under this Agreement) if the obligation to pay such additional amounts (or such indemnification) would not have arisen but for a failure of such Lender to comply with its
obligations under this Section 2.8.7. 
  

 9 

 2.9 Pro Rata Treatment. 
  
 2.9.1 Funding, Payments and Prepayments, Etc. Except as otherwise provided herein, (a) the funding of the Loan shall
be made or allocated among the Lenders pro rata according to their respective Proportionate Shares, and (b) each payment of principal and interest on the Loan shall be made or shared among the Lenders holding the Loan, pro rata according to their
respective Proportionate Shares. 
  
 2.9.2 Sharing of
Payments, Etc. If any Lender shall obtain any payment (whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) hereunder in excess of its ratable share of payments in accordance with Section 2.9.1, such Lender
shall forthwith purchase from the other Lenders such participations in the Loan as shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of them; provided, however, that if all or any portion
of such excess payment is thereafter recovered from such purchasing Lender, such purchase from such Lender shall be rescinded and each other Lender shall repay to the purchasing Lender the purchase price to the extent of such recovery together with
an amount equal to such other Lender’s ratable share (according to the proportion of (a) the amount of such other Lender’s required repayment to (b) the total amount so recovered from the purchasing Lender) of any interest or other amount
paid or payable by the purchasing Lender in respect of the total amount so recovered. Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this Section 2.9.2 may, to the fullest extent permitted by law,
exercise all its rights of payment (including the right of set-off) with respect to such participation as fully as if such Lender were the direct creditor of Borrower in the amount of such participation. 
  
 2.10 Change of Circumstances. 
  
 2.10.1 Inability to Determine Rates. If, on or before the first day
of any Interest Period for any LIBOR Loans, (a) Administrative Agent determines that the LIBOR Rate for such Interest Period cannot be adequately and reasonably determined due to the unavailability of funds in or other circumstances affecting the
London interbank market, or (b) Lenders holding aggregate Proportionate Shares of 33- 1/3% or more shall advise
Administrative Agent that (i) the rates of interest for such LIBOR Loan do not adequately and fairly reflect the cost to such Lenders of making or maintaining such Loan, or (ii) deposits in Dollars in the London interbank market are not available to
such Lenders (as conclusively certified by each such Lender in good faith in writing to Administrative Agent and to Borrower) in the ordinary course of business in sufficient amounts to make and/or maintain its LIBOR Loan, Administrative Agent shall
immediately give notice of such condition to Borrower. After the giving of any such notice and until Administrative Agent shall otherwise notify Borrower that the circumstances giving rise to such condition no longer exist, Borrower’s right to
request the conversion to, and the Lenders’ obligations to convert the Loan to, a LIBOR Loan shall be suspended. If the Loan is a LIBOR Loan at the commencement of any suspension, it shall be converted at the end of the then current Interest
Period for the Loan into a Base Rate Loan, unless such suspension has then ended. 
  
 2.10.2 Illegality. If, after the date of this Agreement, the adoption of any Governmental Rule, any change in any Governmental Rule or the application or requirements 
  

 10 

 thereof (whether such change occurs in accordance with the terms of such Governmental Rule as enacted, as a result of
amendment, or otherwise), any change in the interpretation or administration of any Governmental Rule by any Governmental Authority, or compliance by any Lender or Borrower with any request or directive (whether or not having the force of law, but
if not having the force of law, being of the type with which a Lender customarily complies) of any Governmental Authority (a “Change of Law”) shall make it unlawful or impossible for any Lender to make or maintain a LIBOR Loan, such
Lender shall immediately notify Administrative Agent and Borrower of such Change of Law. Upon receipt of such notice, (a) Borrower’s right to request the conversion to, and the Lenders’ obligations to make or convert the Loan to, a LIBOR
Loan shall be suspended for so long as such condition shall exist, and (b) Borrower shall, at the request of such Lender, either (i) pursuant to Section 2.3, convert any then outstanding LIBOR Loan into a Base Rate Loan at the end of the current
Interest Period for the Loan, or (ii) immediately repay or convert (at Borrower’s option) the LIBOR Loan into a Base Rate Loan if such Lender shall notify Borrower that such Lender may not lawfully continue to fund and maintain the Loan as a
LIBOR Loan. Any conversion or prepayment of a LIBOR Loan made pursuant to the preceding sentence prior to the last day of an Interest Period for the Loan shall be deemed a prepayment thereof for purposes of Section 2.11. 
  
 2.10.3 Increased Costs. If, after the date of this Agreement, any
Change of Law: 
  
 (a) Shall subject any Lender to any tax, duty
or other charge with respect to any LIBOR Loan, or shall change the basis of taxation of payments by Borrower to any Lender on such a Loan (except for Taxes, Other Taxes or changes in the rate of taxation on the overall net income of any Lender); or

  
 (b) Shall impose, modify or hold applicable any reserve,
special deposit or similar requirement (without duplication of any reserve requirement included within the applicable interest rate through the definition of “Reserve Requirement”) against assets held by, deposits or other liabilities in
or for the account of, advances or loans by, or any other acquisition of funds by, any Lender for any LIBOR Loan; or 
  
 (c) Shall impose on any Lender any other condition directly related to any LIBOR Loan; 
  
 and the effect of any of the foregoing is to increase the cost to such Lender of making, issuing, creating, renewing, participating in or
maintaining any such LIBOR Loan or to reduce any amount receivable by such Lender hereunder; then Borrower shall from time to time, within 30 days after demand by such Lender, pay to such Lender additional amounts sufficient to reimburse such Lender
for such increased costs or to compensate such Lender for such reduced amounts. A certificate setting forth in reasonable detail the amount of such increased costs or reduced amounts and the basis for determination of such amount, submitted by such
Lender to Borrower, shall, in the absence of demonstrable error, be conclusive and binding on Borrower for purposes of this Agreement. 
  
 2.10.4 Capital Requirements. If any Lender determines that (a) any Change of Law after the date of this Agreement increases the amount of capital
required or expected to be 
  

 11 

 maintained by such Lender, or the Lending Office of such Lender or any Person controlling such Lender (a “Capital
Adequacy Requirement”), and (b) the amount of capital maintained by such Lender or such Person which is attributable to or based upon the Loan or this Agreement must be increased as a result of such Capital Adequacy Requirement (taking into
account such Lender’s or such Person’s policies with respect to capital adequacy), Borrower shall pay to Administrative Agent on behalf of such Lender or such Person, within 30 days after demand of Administrative Agent on behalf of such
Lender or such Person, such amounts as such Lender or such Person shall reasonably determine are necessary to compensate such Lender or such Person for the increased costs to such Lender or such Person of such increased capital. A certificate of
such Lender or such Person, setting forth in reasonable detail the computation of any such increased costs, delivered to Borrower by Administrative Agent on behalf of such Lender or such Person shall, in the absence of demonstrable error, be
conclusive and binding on Borrower for purposes of this Agreement. 
  
 2.10.5 Notice; Participating Lenders’ Rights. Each Lender shall notify Borrower of any event occurring after the date of this Agreement that will entitle such Lender to compensation pursuant to this Section 2.10, as promptly as
practicable, and in no event later than 180 days after the principal officer of such Lender responsible for administering this Agreement obtained knowledge thereof; provided, however, that the failure to give Borrower notice within
such 180-day period and to make such determination during such periods shall not relieve Borrower of the obligation under this Section 2.10 with respect to any claim arising prior to the end of such period, but shall relieve Borrower of its
obligations under this Section 2.10 with respect to the time between the end of such period and such time as Borrower receives notice from such Lender as provided herein. No Person purchasing from a Lender a participation in the Loan (as opposed to
an assignment) shall be entitled to any payment from or on behalf of Borrower pursuant to Section 2.10.3 or Section 2.10.4 which would be in excess of the applicable proportionate amount (based on the portion of the Loan in which such Person is
participating) which would then be payable to such Lender if such Lender had not sold a participation in that portion of the Loan. 
  
 2.11 Funding Losses. If Borrower shall (a) repay or prepay any LIBOR Loan on any day other than the last day of an Interest Period for the Loan,
(b) fail to convert the Loan from a Base Rate Loan into a LIBOR Loan, as applicable, in accordance with a Notice of Conversion of Loan Type delivered to Administrative Agent (whether as a result of the failure to satisfy any applicable conditions or
otherwise) after such notice has become irrevocable, (c) fail to continue a LIBOR Loan in accordance with a Confirmation of Interest Period Selection after such notice of confirmation has become irrevocable, or (d) fail to make any prepayment in
accordance with any notice of prepayment delivered to Administrative Agent, Borrower shall, within 30 days after demand by any Lender, reimburse such Lender for all reasonable costs and losses incurred by such Lender (“Liquidation
Costs”) due to such payment, prepayment or failure. Borrower understands that such costs and losses may include losses incurred by a Lender as a result of funding and other contracts entered into by such Lender to fund the LIBOR Loan (other
than non receipt of the Applicable Margin). Each Lender demanding payment under this Section 2.11 shall deliver to Borrower a certificate setting forth in reasonable detail the amount of costs and losses for which demand is made. Such a certificate
so delivered to Borrower shall, in the 
  

 12 

 absence of demonstrable error, be conclusive and binding as to the amount of such loss for purposes of this Agreement.

  
 2.12 Alternate Office, Minimization of Costs.

  
 2.12.1 Minimization of Costs. To the extent reasonably
possible, each Lender shall designate an alternative Lending Office with respect to its LIBOR Loans and otherwise take any reasonable actions to reduce any liability of Borrower to any Lender under Sections 2.8.4, 2.10.3, 2.10.4 or 2.11, or to avoid
the unavailability of any Type of Loan under Section 2.10.2 so long as (in the case of the designation of an alternative Lending Office) such Lender, in its sole discretion, does not determine that such designation is disadvantageous to such Lender.

  
 2.12.2 Replacement Rights. If and with respect to each
occasion that a Lender either makes a demand for compensation pursuant to Section 2.8.4, 2.10.3 or 2.10.4 or is unable for a period of three consecutive months to fund LIBOR Loans pursuant to Section 2.10.2, or wrongfully fails to fund the Loan,
Borrower may, upon at least five Banking Days’ prior irrevocable written notice to each of such Lenders and Administrative Agent, in whole permanently replace the Loan of such Lender; provided that Borrower shall replace such Loan with
the Loan of a lender reasonably satisfactory to Administrative Agent. Such replacement Lender shall upon the effective date of replacement purchase the Obligations owed to such replaced Lender for the aggregate amount thereof and shall thereupon and
for all purposes become a “Lender” hereunder. Such notice from Borrower shall specify an effective date for the replacement of such Lender’s Loan, which date shall not be later than the 14th day after the day such notice is given. On the effective date of any replacement of a Lender’s Loan and Obligations pursuant to this Section 2.12.2,
Borrower shall pay to Administrative Agent for the account of such Lender (a) any fees due to such Lender to the date of such replacement, (b) the principal of and accrued interest on the principal amount of the outstanding Loan held by such Lender
to the date of such replacement (such amount to be represented by the purchase of the Obligations of such replaced Lender by the replacing Lender and not as a prepayment of such Loan), and (c) the amount or amounts due to such Lender pursuant to
each of Sections 2.8.4, 2.10.3 or 2.10.4, as applicable, and any other amount then payable hereunder to such Lender. In addition, if the replacement Lender was not previously a “Lender” hereunder, Borrower shall pay to Administrative Agent
an administrative fee of $3,500. Borrower will remain liable to such replaced Lender for any Liquidation Costs that such Lender may sustain or incur as a consequence of the purchase of such Lender’s Loan (unless such Lender has defaulted on its
obligation to fund the Loan hereunder). Upon the effective date of the purchase of any Lender’s Loan pursuant to this Section 2.12.2, such Lender shall cease to be a Lender hereunder. No such purchase of such Lender’s Loan pursuant to this
Section 2.12.2 shall affect (i) any liability or obligation of Borrower or any other Lender to such terminated Lender, or any liability or obligation of such terminated Lender to Borrower or any other Lender, which accrued on or prior to the date of
such purchase, or (ii) such terminated Lender’s rights hereunder in respect of any such liability or obligation. 
  
 2.12.3 Alternate Office. Any Lender may designate a Lending Office other than that set forth on Schedule 1 and may assign all of its interests
under the Credit Documents, and its Notes, to such Lending Office, provided that such designation and assignment do not at the 
  

 13 

 time of such designation and assignment increase the reasonably foreseeable liability of Borrower under Sections 2.8.4,
2.10.3 or 2.10.4, or make an interest rate option unavailable pursuant to Section 2.10.2. 
  
 ARTICLE III. 
 CONDITIONS PRECEDENT 
  
 3.1 Conditions to the Closing Date. The obligation of the Lenders to
execute this Agreement is subject to the prior satisfaction of each of the following conditions (unless waived in writing by Administrative Agent with the consent of the Lenders): 
  
 3.1.1 Credit Documents. Delivery to Administrative Agent of executed originals of each Credit Document other than the
Notes and the Collateral Documents, all of which shall be in form and substance satisfactory to the Lenders, and shall have been duly authorized, executed and delivered by the parties thereto. 
  
 3.1.2 Resolutions. Delivery to Administrative Agent of a copy of one
or more resolutions or other authorizations of Borrower and each Subsidiary Guarantor in form and substance reasonably satisfactory to the Lenders and certified by the appropriate officers of Borrower and each Subsidiary Guarantor as being in full
force and effect on the Closing Date, authorizing the execution, delivery and performance of this Agreement and the other Credit Documents and any instruments or agreements required hereunder or thereunder to which such entity is a party.

  
 3.1.3 Incumbency. Delivery to Administrative Agent of
a certificate in form and substance reasonably satisfactory to the Lenders, from Borrower and each Subsidiary Guarantor signed by the appropriate authorized officer and dated the Closing Date, as to the incumbency of the natural persons authorized
to execute and deliver this Agreement and the other Credit Documents and any instruments or agreements required hereunder or thereunder to which Borrower and each Subsidiary Guarantor is a party. 
  
 3.1.4 Organizational Documents. Delivery to Administrative Agent of
(a) a copy of Borrower’s certificate of incorporation, certified by the Florida Secretary of State and the secretary or an assistant secretary of Borrower as being true, current and complete on the Closing Date, and any related agreements or
certificates filed in accordance with applicable state law and (b) certified copies of the organizational documents of each Subsidiary Guarantor and of TPGC. 
  

3.1.5 Good Standing. Delivery to Administrative Agent of certificates issued by the secretary of state of the state of formation of Borrower and
each Subsidiary Guarantor, certifying good standing and payment of all taxes due to such state. 
  
 3.1.6 Legal Opinions. Delivery to Administrative Agent of legal opinions of counsel to Borrower and the Subsidiary Guarantors, each in form and
substance reasonably satisfactory to the Lenders, relating to this Agreement. 
  

 14 

 3.1.7 Accuracy of Representations and Warranties. Each representation and warranty set forth in
Article IV and each other Credit Document shall be true and correct in all material respects. 
  
 3.1.8 Financial Statements. Administrative Agent shall have received the most recent annual audited financial statements or Form 10-K from Borrower and, to the extent obtainable, the most recent quarterly
financial statements or Form 10-Q of Borrower, with certificates from the appropriate Responsible Officer thereof, stating that no material adverse change in the consolidated assets, liabilities, operations or financial condition of Borrower has
occurred from those set forth in the most recent financial statements or the balance sheet, as the case may be, so provided to Administrative Agent. 
  
 3.1.9 No Defaults. No Event of Default or Inchoate Default shall have occurred and is continuing or will result from the execution of this
Agreement or any other Credit Document. 
  
 3.1.10 Certificate
of Borrower. Administrative Agent shall have received a certificate, dated as of the Closing Date, signed by a Responsible Officer of Borrower, in substantially the form of Exhibit D. 
  
 3.1.11 Payment of Fees. All amounts required to be paid to
Administrative Agent under the Credit Documents, and all taxes, fees and other costs payable in connection with the execution and delivery of the documents and instruments referred to in this Article 3 (or incorporated herein by reference) shall
have been paid in full or, as approved by Administrative Agent, provided for. 
  
 3.2 Conditions to the Loan Commitment and Loan. The respective commitments of the Lenders to make the Loan and their respective obligation to make the Loan is subject to the prior satisfaction of each of the
following conditions (unless waived in writing by Administrative Agent with the consent of the Lenders): 
  
 3.2.1 Accuracy of Representations and Warranties. Each representation and warranty set forth in Article IV and each other Credit Document shall be
true and correct in all material respects. 
  
 3.2.2 No
Defaults. No Event of Default or Inchoate Default shall have occurred and is continuing or will result from the execution of this Agreement or any other Credit Document. 
  
 3.2.3 Notice of Borrowing. Administrative Agent shall have received a Notice of Borrowing meeting the requirements of
Section 2.1.2. 
  
 3.2.4 Notes. The Lenders shall have
received executed originals of the respective Notes to be held by them, in each case in the principal amount of the Loan multiplied by the Proportionate Share of such Lender. 
  

 15 

 3.2.5 Collateral Documents. Delivery to Administrative Agent of executed originals of each
Collateral Document, all of which shall be in form and substance satisfactory to the Lenders, and shall have been duly authorized, executed and delivered by the parties thereto. 
  
 3.2.6 UCC Searches and Financing Statements. 
  
 (a) UCC Searches. Administrative Agent shall have received UCC searches for each of the jurisdictions in which UCC-1
financing statements are intended to be filed in respect of the Collateral, showing that upon due filing or recordation (assuming such filing or recordation occurred on the date of such respective reports), the security interests created under the
Collateral Documents will be prior to all other financing statements or other security documents in respect of the Collateral. 
  
 (b) UCC-1 Filings. There shall have been filed in appropriate jurisdictions UCC-1 financing statements relating to the Collateral and
Administrative Agent shall hold first priority security interests and Liens in all of the Collateral. 
  
 3.2.7 Legal Opinions. Delivery to Administrative Agent of legal opinions of counsel to Borrower and the Subsidiary Guarantors, each in form and
substance reasonably satisfactory to the Lenders, relating to the Notes and the Collateral Documents. 
  
 3.2.8 Repayment of Panda Loan. Prior to or concurrently with the funding of the Loan, the credit facilities extended by the Lenders to Panda GS V,
LLC, a Delaware limited liability company, and Panda GS VI, LLC, a Delaware limited liability company, shall have been paid in full, including all principal, interest, fees and other amounts due thereunder. 
  
 3.2.9 Purchased Interests. The Purchased Interests shall have been or
shall concurrently be acquired as contemplated by Recital A. 
  
 3.2.10 No Material Adverse Effect. No event or circumstance shall have occurred and is continuing which is reasonably likely to have a Material Adverse Effect on Borrower or will result from the Loan. 
  
 ARTICLE IV. 
 REPRESENTATIONS AND WARRANTIES 
  
 Borrower makes the following representations and warranties to and in favor of Administrative Agent and the Lenders as of the Closing Date and as of the date of the Loan. All of these representations and warranties
shall survive the Closing Date, the issuance of any Notes and the making of the Loan: 
  
 4.1 Corporate Existence and Business. Borrower and each Subsidiary Guarantor is a corporation duly organized and validly existing in good standing under the laws of its jurisdiction of incorporation and is duly
qualified to do business and is in good standing in each jurisdiction in which such qualification is necessary to execute, deliver and perform each Credit Document to which it is or is to become a party. 
  

 16 

 4.2 Power and Authorization; Enforceable Obligations. Borrower and each Subsidiary Guarantor has
full power and authority and the legal right to execute, deliver and perform each Credit Document to which it is or is to become a party and to take all action as may be necessary to complete the transactions contemplated hereunder and thereunder.
Borrower and each Subsidiary Guarantor has taken all necessary corporate action to authorize the execution, delivery and performance of each Credit Document to which it is or is to become a party to complete the transactions contemplated hereby. No
consent or authorization of, filing with, or other act by or in respect of any other Person or Governmental Authority is required in connection with the execution, delivery or performance by Borrower or any Subsidiary Guarantor, or the validity or
enforceability as to Borrower or any Subsidiary Guarantor, of each Credit Document to which it is or is to become a party, except such consents or authorizations or filings or other acts as have already been obtained or where the failure to obtain
such consent or authorization could not reasonably be expected to have a Material Adverse Effect on Borrower. Each Credit Document to which Borrower or any Subsidiary Guarantor is a party have been duly executed and delivered by Borrower or such
Subsidiary Guarantor and constitute, and each other Credit Document to which it is to become a party will upon execution and delivery thereof by Borrower and the other parties thereto (if any) constitutes, a legal, valid and binding obligation of
Borrower or such Subsidiary Guarantor, enforceable against it in accordance with its terms except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the right of creditors
generally and by general principles of equity. 
  
 4.3 No Legal
Bar. The execution, delivery and performance by Borrower and the Subsidiary Guarantors of each Credit Document to which it is or is to become a party to complete the transactions contemplated hereby and the making by Borrower and each Subsidiary
Guarantor of any payments under any Credit Document to which it is a party will not violate any applicable law or any material contractual obligation of Borrower or any Subsidiary Guarantor, or relating to the Collateral and will not result in, or
require, the creation or imposition of any Lien on any of the properties or revenues of Borrower or any Subsidiary Guarantor (other than as provided in the Collateral Documents) pursuant to any applicable law or any such contractual obligation
except, in each case, where such violation, creation or imposition could not reasonably be expected to have a Material Adverse Effect on Borrower. 
  
 4.4 No Proceeding, Litigation or Investigation. No litigation, proceeding or investigation of or before any Governmental Authority is pending or,
to the knowledge of Borrower, threatened in writing against Borrower or any Significant Subsidiary or Subsidiary Guarantor, except where such litigation, proceeding or investigation could not reasonably be expected to have a Material Adverse Effect
on Borrower. 
  
 4.5 Governmental Approvals. All
governmental authorizations and actions necessary in connection with the execution and delivery by Borrower and the Subsidiary Guarantors of the Credit Documents to which they are respectively a party and the performance of their respective
obligations thereunder have been obtained or performed and remain valid and in full force and effect. 
  

 17 

 4.6 Financial Statements. All quarterly and annual financial statements of Borrower and its
consolidated subsidiaries heretofore delivered by Borrower to Administrative Agent were true, correct and complete in all material respects, did not fail to disclose any material liabilities, whether direct or contingent, and fairly presented in all
material respects the financial condition of Borrower and its consolidated subsidiaries, as the case may be, in each case as of the date delivered and were prepared in accordance with GAAP. Since December 31, 2002, there has been no material adverse
change in the business, operations, property, assets or financial condition of Borrower and its consolidated subsidiaries taken as a whole. 
  
 4.7 True and Complete Disclosure. All factual information heretofore or contemporaneously furnished by Borrower or its representatives in writing
to Administrative Agent or any Lender for purposes of or in connection with this Agreement or any transaction contemplated herein was true and accurate in all material respects on the date as of which such information was dated or certified and at
such date did not omit to state any fact necessary to make such information not misleading at such time in light of the circumstances under which such information was provided. The information referred to in the immediately preceding sentence
furnished to Administrative Agent or any Lender on or prior to the Closing Date, taken as a whole, as updated or supplemented from time to time, is true and correct in all material respects as of the Closing Date and the date of the Loan, and as of
the Closing Date and date of the Loan all such information does not omit to state any fact which could reasonably be expected to have a Material Adverse Effect on Borrower. 
  
 4.8 Investment Company Act; PUHCA. Neither Borrower nor any Subsidiary Guarantor is an “investment company”
within the meaning of the Investment Company Act of 1940, as amended. Borrower and the Subsidiary Guarantors are exempt from regulation under PUHCA and are exempt from regulation under the Federal Power Act other than with respect to their status as
“exempt wholesale generators” as defined in Section 32(a)(l) of PUHCA. 
  
 4.9 Compliance with Law. There is no violation by Borrower or any Significant Subsidiary or Subsidiary Guarantor of any Governmental Rule which could reasonably be expected to have a Material Adverse Effect on
Borrower. Except as have been delivered to Administrative Agent, no notices of violation of any Governmental Rule have been issued, entered or received by Borrower. 
  
 4.10 ERISA. Borrower and any other Person which is under common control (within the meaning of Section 414(b) or (c)
of the Code) with Borrower have fulfilled their obligations (if any) under the minimum funding standards of ERISA and the Code for each ERISA Plan in compliance in all material respects with the currently applicable provisions of ERISA and the Code
and have not incurred any liability to the PBGC or an ERISA Plan under Title IV of ERISA (other than liability for premiums due in the ordinary course). Assuming that the credit extended hereunder does not involve the assets of any employee benefit
plan subject to ERISA, neither the execution of this Agreement nor the consummation of the transactions contemplated hereby will involve a Prohibited Transaction. 
  

 18 

 4.11 Solvency. Borrower and each Subsidiary Guarantor is, and after giving effect to the
incurrence of all Indebtedness and obligations being incurred in connection with this Agreement and the other Credit Documents, will be and will continue to be, Solvent. 
  
 4.12 Filings; Collateral. 
  

4.12.1 Filings. No filing, recording, refiling or rerecording other than those which have been performed on or prior to the Closing Date is
necessary to perfect and maintain the perfection and priority of the Liens referred to in Section 3.2.6(b). No effective financing statement or other instrument similar in effect covering all or any part of the Collateral is on file in any recording
office, except such as may have been filed pursuant to the Collateral Documents. 
  
 4.12.2 Priority of Liens. The Subsidiary Guarantors have good title to all of the Collateral. The Lien of the Collateral Documents constitutes a valid and subsisting first priority perfected security interest
in all the personal property described in the Collateral Documents, subject to no Liens. 
  
 4.12.3 Rights of First Refusal, Etc. There are no outstanding rights of first offer, rights of first refusal, or the like, relating to the Purchased Interests. 
  
 4.13 Margin Stock. No indebtedness of Borrower or any of its
subsidiaries being reduced or retired out of the proceeds of the Loan was or will be incurred for the purpose of purchasing or carrying any “margin stock” (within the meaning of Regulation U). 
  
 ARTICLE V. 
 COVENANTS OF BORROWER 
  
 Borrower covenants and agrees that until the repayment in full of the Obligations (other than those contingent obligations that are intended to survive the termination of this Agreement or the other Credit Documents),
unless Administrative Agent on behalf of the Lenders waives compliance in writing: 
  
 5.1 Existence. Borrower shall, and shall cause each Significant Subsidiary and Subsidiary Guarantor to, maintain and preserve its existence in good standing in the state of its formation and its qualification
to do business in each other jurisdiction where such qualification is necessary and all material rights, privileges and franchises necessary in the normal conduct of its business. 
  
 5.2 Consents, Legal Compliance. Borrower shall, and shall cause the Subsidiary Guarantors to, maintain in full force
and effect all consents of any Governmental Authority that are required to be obtained by it in order for them to perform their respective obligations under the Credit Documents to which they are a party, and will obtain any that may become
necessary in the future. 
  

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 5.3 Prohibition of Certain Transfers. 
  
 5.3.1 Mergers, Etc. Borrower shall not, and shall not permit any
Significant Subsidiary to, liquidate or dissolve, or combine, consolidate or merge with or into another Person (other than any consolidation or mergers between or among Borrower and its Significant Subsidiaries); except that Borrower or any
Significant Subsidiary may combine, consolidate or merge with another Person if (a) Borrower or a Significant Subsidiary, as the case may be, is the surviving corporation of such merger, consolidation or combination, (b) after giving effect thereto,
Borrower’s long term unsecured indebtedness ratings from Moody’s and S&P are at least Baa2 and BBB-, respectively, or Baa3 and BBB, respectively, (c) prior to such merger, consolidation or combination, and after giving effect thereto,
no Inchoate Default or Event of Default shall have occurred and be continuing, (d) Borrower shall have provided pro forma calculations to Administrative Agent demonstrating that, to the reasonable satisfaction of Administrative Agent, after giving
effect to such merger, consolidation or combination, the projected ratio of Total Debt to Capitalization for the next succeeding fiscal quarter will be less than or equal to 0.65 to 1.00 and the projected EBITDA to Interest Ratio for the next
succeeding twelve months will be greater than or equal to 2.50 to 1.00, and (e) Borrower’s rights and obligations under this Agreement and Administrative Agent’s rights and obligations under this Agreement shall not be diminished in any
manner as a result of such merger, consolidation or combination. 
  
 5.3.2 Sale of Property. Except as set forth in this Section 5.3 or sales that are in the nature of financing leases, Borrower shall not, and shall not permit any Significant Subsidiary to, sell, lease, assign or otherwise transfer or
dispose of, directly or indirectly, all or any substantial part of such Significant Subsidiary’s property, business or assets; provided that (a) Borrower or any Significant Subsidiary may sell, lease or otherwise transfer or dispose of,
directly or indirectly, assets to any Significant Subsidiary; (b) Tampa Electric may sell, contribute or otherwise transfer its transmission and transmission-related assets for fair value to a regional transmission organization; and (c) TPS may
sell, transfer or otherwise assign up to 30% of its assets in exchange for similar assets or for cash; provided that if such sale is for cash, then such cash is (i) retained by TPS or Borrower in cash or equivalent short term investments (provided
that TPS and Borrower shall not be obligated to so maintain any such proceeds in cash or equivalent investments at any time that Borrower is rated at least Baa2 by Moody’s and BBB+ by S&P or Baal by Moody’s and BBB by S&P) and
reinvested within nine months of the date of such sale in assets similar to those sold, or (ii) used to prepay any other Indebtedness of Borrower and/or its subsidiaries to the extent required in accordance with its terms. 
  
 5.3.3 Liens. Except as set forth in this Section 5.3 or on
Schedule 5.3, Borrower shall not, and shall not permit any Significant Subsidiary to, mortgage, pledge or encumber all or substantially all of its assets; provided that Borrower and any subsidiary of Borrower may enter into limited recourse
project financing transactions (including in the form of synthetic leases) in the ordinary course of Borrower’s or such subsidiary’s business. 
  
 5.3.4 Sale of Subsidiaries. Except as set forth in this Section 5.3, Borrower shall not sell, assign or otherwise transfer, by way of collateral
assignment or otherwise, or dispose of, directly or indirectly (by way of collateral assignment or otherwise) any Equity 
  

 20 

 Interest in any Significant Subsidiary; provided that (a) Borrower may sell, transfer or otherwise assign 20% of
Borrower’s Equity Interests in TPS and (b) Borrower or any subsidiary of Borrower may engage in limited recourse project financing transactions as provided in Section 5.3.3. 
  
 5.3.5 Sale of Gila River and El Dorado Projects. Borrower may not sell or allow to be sold, transferred or otherwise
conveyed, directly or indirectly, any of its ownership interest in the Gila River Project or the El Dorado Project. 
  
 5.4 Payment and Performance of Material Obligations. Borrower shall, and shall cause each Significant Subsidiary and Subsidiary Guarantor to, pay
and perform all its material obligations, howsoever arising, as and when due and payable or required to be performed, except (a) such as may be contested in good faith or as to which a bona fide dispute may exist; provided that adequate
reserves have been established in accordance with GAAP, and (b) trade payables which shall be paid in the ordinary course of business. 
  
 5.5 Taxes. Borrower shall, and shall cause each Significant Subsidiary and Subsidiary Guarantor to, file all tax returns and pay, or cause to be
paid, as and when due and prior to delinquency, all material taxes, assessments and governmental charges of any kind that may at any time be lawfully assessed or levied against or with respect to it; provided that Borrower or any Significant
Subsidiary or Subsidiary Guarantor may contest in good faith any such taxes, assessments and other charges and, in such event, may permit the taxes, assessments or other charges so contested to remain unpaid during any period, including appeals,
when such Person is in good faith contesting the same, so long as (a) adequate reserves have been established in accordance with GAAP, (b) enforcement of the contested tax, assessment or other charge is effectively stayed for the entire duration of
such contest if such enforcement could reasonably be expected to have a Material Adverse Effect on Borrower, and (c) any tax, assessment or other charge determined to be due, together with any interest or penalties thereon, is promptly paid as
required after final resolution of such contest. 
  
 5.6
Maintenance of Property, Insurance. Borrower shall, and shall cause each Significant Subsidiary and Subsidiary Guarantor to, (a) keep all property useful and necessary in its business in good working order and condition except where the
failure to so maintain could not reasonably be expected to have a Material Adverse Effect on Borrower, (b) maintain proper books and records in accordance with GAAP, (c) permit Administrative Agent to visit and inspect its properties at reasonable
times and upon reasonable notice, (d) maintain with financially sound and reputable insurance companies insurance on all its property in at least such amounts and against at least such risks as are in accordance with normal industry practice, or
make provisions reasonably satisfactory to Administrative Agent for self-insurance in accordance with normal industry practice, (e) defend Borrower’s and the Subsidiary Guarantors’ right, title and interest in and to all of their
respective properties and assets, except where failure to do so could not reasonably be expected to have a Material Adverse Effect on Borrower, and (f) furnish to Administrative Agent, upon written request, full information as to the insurance
carried. 
  

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 5.7 Compliance with Laws, Etc. Borrower shall, and shall cause each Significant Subsidiary and
Subsidiary Guarantor to, promptly comply, or cause compliance, with all Governmental Rules (except where the failure to comply could not reasonably be expected to have a Material Adverse Effect on Borrower) including Governmental Rules relating to
pollution control, environmental protection, equal employment opportunity or employee benefit plans, ERISA Plans and employee safety. 
  
 5.8 No Change in Business. Borrower shall maintain a substantial part of its business in the power industry and businesses reasonably related
thereto and Borrower shall cause each Significant Subsidiary to maintain as a substantial part of its business the general type of business now conducted by such Significant Subsidiary. 
  
 5.9 Financial Statements. Unless Administrative Agent otherwise consents, deliver or cause to be delivered to
Administrative Agent, in form and detail reasonably satisfactory to Administrative Agent: 
  
 (a) As soon as practicable and in any event within 60 days after the end of the first, second and third quarterly accounting periods of its fiscal year, an unaudited consolidated balance sheet of Borrower and its
consolidated subsidiaries as of the last day of such quarterly period and the related statements of income, cash flow, and partners’ capital (where applicable) for such quarterly period and (in the case of the second and third quarterly
periods) for the portion of the fiscal year ending with the last day of such quarterly period, setting forth in each case in comparative form corresponding unaudited figures from the preceding fiscal year; and 
  
 (b) As soon as practicable and in any event within 120 days after the close
of each applicable fiscal year, audited consolidated financial statements of Borrower and its consolidated subsidiaries. Such financial statements shall include a statement of equity, a balance sheet as of the close of such year, an income and
expense statement, reconciliation of capital accounts (where applicable) and a statement of cash flow, all prepared in accordance with GAAP, certified by an independent certified public accountant selected by Borrower. Such certificate shall not be
qualified or limited because of restricted or limited examination by such accountant of any material portion of the records of Borrower. 
  
 (c) Each time the financial statements are delivered under Sections 5.9(a) or 5.9(b), deliver, along with such financial statements, a certificate signed
by a Responsible Officer of Borrower (i) setting forth reasonably detailed calculations demonstrating compliance with Section 5.13 and including a schedule describing all Contingent Obligations of Borrower, and (ii) certifying that (A) such
Responsible Officer has made or caused to be made a review of the transactions and financial condition of Borrower during the relevant fiscal period and that, to such Responsible Officer’s knowledge, Borrower is in compliance with all
applicable material provisions of each Credit Document to which Borrower is a party or, if such is not the case, stating the nature of such non-compliance and the corrective actions which Borrower has taken or proposes to take with respect thereto,
(B) such financial statements are true and correct in all material respects and that no material adverse change in the consolidated assets, liabilities, operations, or financial condition of Borrower has occurred since the date of the immediately
preceding financial statements provided to Administrative Agent or, if a material adverse change 
  

 22 

 has occurred, the nature of such change and (C) such financial statements have been prepared in accordance with GAAP.

  
 (d) As long as Borrower is required or permitted to file
reports under the Exchange Act, a copy of its report on Form 10-Q shall satisfy the requirements of Section 5.9(a) and a copy of Borrower’s report on Form 10-K shall satisfy the requirements of Section 5.9(b). 
  
 5.10 Notices. Borrower shall promptly, upon acquiring notice or giving
notice, as the case may be, or obtaining knowledge thereof, deliver written notice to Administrative Agent of: 
  
 (a) Any litigation or investigation pending or threatened in writing against Borrower, or any Significant Subsidiary or Subsidiary Guarantor involving
claims against Borrower or such Significant Subsidiary or Subsidiary Guarantor that could reasonably be expected to have a Material Adverse Effect on Borrower, such notice to include copies of all papers filed in such litigation or investigation and
to be given monthly if any such papers have been filed since the last notice given; 
  
 (b) Any dispute or disputes which may exist between Borrower or any Significant Subsidiary or Subsidiary Guarantor and any Governmental Authority and which involve (i) claims against Borrower or such Significant
Subsidiary or Subsidiary Guarantor that could reasonably be expected to have a Material Adverse Effect on Borrower, (ii) injunctive or declaratory relief that could reasonably be expected to have a Material Adverse Effect on Borrower, (iii)
revocation or material modification or the like of any applicable material permit or imposition of additional material conditions with respect thereto, or (iv) any liens for any material amount of taxes due but not paid; 
  
 (c) Any default under this Agreement or under any other agreement with
respect to any Indebtedness of Borrower outstanding in an amount equal to or in excess of $50,000,000 or the acceleration of Indebtedness of Borrower for borrowed money in an amount equal to or in excess of $10,000,000; 
  
 (d) Borrower being placed on watch or review for possible rating down-grade
by S&P or Moody’s; 
  
 (e) Any negative change, from the
date hereof, from the rating given to Borrower’s long-term senior unsecured debt by either S&P or Moody’s; 
  
 (f) Borrower agreeing after the Closing Date with any other lender, whether secured or unsecured and at any level of seniority, to any covenants or
financial-related events of default which are in addition to or more onerous than those included in this Agreement, together with the wording of any such agreement; and 
  
 (g) Any event or circumstance which could reasonably be expected to have a Material Adverse Effect on Borrower. 

 
 5.11 Other Reports. Provide to Administrative Agent promptly upon
request such reports, statements, lists of property, accounts, budgets, forecasts, new or updated projections, 
  

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 and other information concerning Borrower and its subsidiaries, as Administrative Agent shall reasonably require.

  
 5.12 Performance of Obligations. Borrower shall, and
shall cause its Significant Subsidiaries to, perform all of its obligations under the terms of each mortgage, indenture, security agreement, debt instrument, lease, undertaking and contract by which it or any of its properties is bound or to which
it is a party, if the failure to so perform, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 
  
 5.13 Financial Covenants. 
  
 (a) Borrower shall maintain, as of the last day of each fiscal quarter, a ratio of Total Debt to Capitalization, for the fiscal quarter then ended, of
less than or equal to 0.65 to 1.00. 
  
 (b) Borrower shall
maintain, as of the last day of each fiscal quarter, an EBITDA to Interest Ratio of greater than or equal to 2.50 to 1.00. 
  
 (c) Borrower shall not grant a Lien on more than 60% of the fair value of its assets and the assets of its subsidiaries, taken as a whole, without
providing Administrative Agent a similar pari passu Lien on those assets, or additional security satisfactory to the Majority Lenders. 
  
 (d) In the event Borrower agrees after the Closing Date with any other lender, whether secured or unsecured and at any level of seniority, to any
covenants or financial-related events of default which are in addition to or more onerous than those included in this Agreement, this Agreement shall be immediately amended to incorporate such covenant(s) and/or event(s) of default, and pending such
amendment such covenant(s) and/or event(s) of default shall be deemed included and incorporated by reference herein, without further act. 
  
 5.14 Indemnification. 
  
 (a) Borrower shall indemnify, defend and hold harmless Administrative Agent and each Lender, each of their Affiliates and their respective officers,
directors, shareholders, controlling persons, employees, agents and servants (collectively, the “Indemnitees”) from and against and reimburse the Indemnitees for any and all penalties, claims, damages, losses, liabilities and
obligations, of any kind or nature whatsoever, that may be imposed upon, incurred by or asserted or awarded against any Indemnitee in any way relating to or arising out of or in connection with this Agreement, the other Credit Documents, the use by
Borrower of the proceeds hereof, or any related claim or investigation, litigation or proceeding, or the preparation of any defense with respect thereto, and will reimburse each Indemnitee for all reasonable expenses (including all reasonable costs
and expenses of a single legal counsel, together with a single legal counsel in each applicable jurisdiction, and all reasonable costs and expenses of multiple legal counsels to the extent necessary in the event that (i) the circumstances giving
rise to such indemnification create an ethical conflict for such single counsel, or (ii) the Indemnitees have inconsistent or conflicting defenses) incurred in connection with the investigation of, preparation for or defense of any pending or
threatened claim, investigation, 
  

 24 

 litigation or proceeding, whether or not such investigation, litigation or proceeding is brought by Borrower, or an
Indemnitee is otherwise a party thereto (but not in respect of any claim or action brought by Borrower against any Indemnitee to enforce its rights hereunder or under any other Credit Document), and whether or not the transactions contemplated by
the Credit Documents are consummated (collectively, “Subject Claims”). 
  
 (b) The foregoing indemnities shall not apply with respect to an Indemnitee, to the extent any such claim, penalty, damage, loss, liability, obligation, cost, disbursement or expense incurred by or asserted or awarded
against such Indemnitee is found in a final, non- appealable judgment by a court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of such Indemnitee, but shall continue to apply to other Indemnitees. Without
limiting the generality of the foregoing, Borrower shall not be liable for any special, indirect, consequential or punitive damages suffered by an Indemnitee, including any loss of profits, business or anticipated savings of such Indemnitee, other
than any such damages or losses imposed upon or asserted or awarded against any Indemnitee by a third party. 
  
 (c) If for any reason the foregoing indemnification is unavailable to any Indemnitee or is insufficient to hold it harmless, then Borrower shall
contribute to the amount paid or payable by such Indemnitee as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative economic interests of Borrower and its equity holders on the one hand and
such Indemnitee on the other hand in the matters contemplated by this Agreement and the other Credit Documents as well as the relative fault of Borrower and such Indemnitee with respect to such loss, claim, damage or liability and any other relevant
equitable considerations. 
  
 (d) The provisions of this Section
5.14 shall survive the satisfaction or discharge of Borrower’s obligations hereunder, and shall be in addition to any other rights and remedies of the Lenders. 
  
 (e) In case any action, suit or proceeding shall be brought against any Indemnitee, such Indemnitee shall promptly notify
Borrower of the commencement thereof, and Borrower shall be entitled, at its expense, acting through counsel reasonably acceptable to such Indemnitee, to participate in, and, to the extent that Borrower desires, to assume and control the defense
thereof. Such Indemnitee shall be entitled, at its expense, to participate in any action, suit or proceeding the defense of which has been assumed by Borrower. Notwithstanding the foregoing, Borrower shall not be entitled to assume and control the
defense of any such action, suit or proceedings if and to the extent that, in the reasonable opinion of such Indemnitee and its counsel, such action, suit or proceeding involves the potential imposition of criminal liability upon such Indemnitee or
a conflict of interest between such Indemnitee and Borrower (unless such conflict of interest is waived in writing by the affected Indemnitees), and in such event (other than with respect to disputes between such Indemnitee and another Indemnitee)
Borrower shall pay the reasonable expenses of such Indemnitee in such defense to the extent provided in Sections 5.14(a) and 5.14(b). 
  
 (f) Borrower shall promptly report to the relevant Indemnitee(s) on the status of such action, investigation, suit or proceeding the defense of which is
assumed by Borrower in 
  

 25 

 accordance with Section 5.14(e), as material developments shall occur and from time to time as requested by such
Indemnitee (but not more frequently than every 60 days). Borrower shall deliver to such Indemnitee a copy of each document filed or served on any party in such action, investigation, suit or proceeding, and each material document which Borrower
possesses relating to such action, investigation, suit or proceeding. 
  
 (g) Notwithstanding Borrower’s rights hereunder to control certain actions, investigations, suits or proceedings, if any Indemnitee reasonably determines that failure to compromise or settle any Subject Claim made against such
Indemnitee is reasonably likely to have an imminent and material adverse effect on such Indemnitee or such Indemnitee’s interest in Borrower, such Indemnitee shall be entitled to compromise or settle such Subject Claim; provided that such
Indemnitee consults with and coordinates such compromise or settlement with Borrower (although no prior consent by Borrower to any such compromise or settlement shall be required); and provided further that with respect to any Indemnitee other than
a Lender, such right may be exercised only with the consent of the Lender or Lenders which such Indemnitee is affiliated with or engaged by. Any such compromise or settlement shall be binding upon Borrower for the purposes of this Section 5.14.
Notwithstanding Borrower’s rights hereunder, Borrower shall not be entitled to settle any Subject Claim of an Indemnitee without the prior written consent of such Indemnitee or a full release of such Indemnitee, in form and substance
satisfactory to such Indemnitee. Upon payment of any Subject Claim by Borrower pursuant to this Section 5.14 or other similar indemnity provisions contained herein to or on behalf of an Indemnitee, Borrower, without any further action, shall be
subrogated to any and all claims that such Indemnitee may have relating thereto, and such Indemnitee shall cooperate with Borrower and Borrower’s insurance carrier, and give such further assurances as are necessary or advisable to enable
Borrower vigorously to pursue such claims. 
  
 (h) Any amounts
payable by Borrower pursuant to this Section 5.14 shall be regularly payable within 30 days after Borrower receives an invoice for such amounts from any applicable Indemnitee, and if not paid within such 30-day period, shall bear interest at the
Default Rate. 
  
 (i) Notwithstanding anything to the contrary
set forth herein, except as provided in Section 5.14(a) or 5.14(e), Borrower shall not, in connection with any one legal proceeding or claim, or separate but related proceedings or claims arising out of the same general allegations or circumstances,
in which the interests of the Indemnitees do not materially differ, be liable to the Indemnitees (or any of them) under any of the provisions set forth in this Section 5.12 for the fees and expenses of more than one separate firm of attorneys (which
firm shall be selected by the affected Indemnitees, or upon failure to so select, by Administrative Agent). 
  
 5.15 Further Assurances. From time to time, Borrower shall execute, acknowledge, record, register, deliver and/or file, and cause the Subsidiary
Guarantors to do so, all such notices, statements, instruments and other documents, and take such other steps as may be necessary or advisable to render fully valid and enforceable under all applicable laws the rights, liens and priorities of the
Lenders with respect to all Collateral and other security from time to time furnished under the Credit Documents or intended to be so furnished, in each case in such 
  

 26 

 form and at such times as shall be satisfactory to Administrative Agent, and pay all fees and expenses (including
attorneys’ fees) incident to compliance with this Section 5.15. 
  
 5.16 Federal Regulations. Borrower shall not use or allow any Subsidiary to use any part of the proceeds of the Loan to purchase or carry any “margin stock” (within the meaning of Regulation U) or to purchase, carry or
trade in any securities under such circumstances as to involve Borrower in a violation of Regulation X or to involve any broker or dealer in Regulation T. 
  
 ARTICLE VI.  
 EVENTS OF DEFAULT;
REMEDIES 
  
 6.1 Events of Default. The occurrence of
any of the following events shall constitute an event of default (“Event of Default”) hereunder: 
  
 6.1.1 Payments. Borrower shall fail to pay, in accordance with the terms of this Agreement, (a) any principal on the Loan on the date such sum is
due, (b) any interest on the Loan or any scheduled fee, cost, charge or sum due hereunder or under any other Credit Document, within three Banking Days after the date that such sum is due, or (c) any other fee, cost, charge or other sum due under
this Agreement or any other Credit Document, within 30 days after written notice that such sum is due and has not been paid. 
  
 6.1.2 Debt Cross Default. (a) Borrower or any Significant Subsidiary shall default for a period beyond any applicable grace period in the payment
of any principal, interest or other amount due under any agreement involving the borrowing of money or the advance of credit (other than trade payables or non-recourse indebtedness) and the outstanding amount or amounts payable under all such
agreements equals or exceeds $50,000,000 or (b) an event of default shall have occurred and be continuing under an agreement, or related agreements, under which Borrower or any Significant Subsidiary has outstanding indebtedness for borrowed money
(other than non-recourse indebtedness) of $10,000,000 or more and, in the case of this clause (b), such debt has been accelerated by the holder of such debt, or the holder of such debt has attempted to accelerate but such acceleration was prevented
by applicable Governmental Rule. 
  
 6.1.3 Bankruptcy;
Insolvency. Borrower or any Significant Subsidiary or Subsidiary Guarantor shall become subject to a Bankruptcy Event. 
  
 6.1.4 Misstatements; Omissions. Any representation or warranty of Borrower set forth in this Agreement or any other Credit Document shall be untrue
or misleading in any material respect as of the time made and such untrue or misleading representation or warranty (a) is having or could reasonably be expected to result in a Material Adverse Effect on Borrower, and (b) shall remain unremedied by
Borrower for a period of 30 days after the earlier of the date that Borrower becomes aware thereof or receives written notice thereof from Administrative Agent. 
  
 6.1.5 Breach of Terms of Agreement. Borrower shall fail to perform or observe any of the covenants set forth in this
Agreement and (except with respect to any covenants set forth in Section 5.1 (with respect to its obligation to maintain its existence), 5.3, 5.8 or 5.13) such 
  

 27 

 failure shall continue unremedied for 30 days after Borrower becomes aware thereof or receives written notice with
respect thereto from Administrative Agent. 
  
 6.1.6
Judgments. A final judgment or judgments shall be entered against Borrower or any Significant Subsidiary or Subsidiary Guarantor in the amount of $50,000,000 or more (net of amounts covered by insurance) individually or in the aggregate
(other than (a) a judgment which is fully discharged within 30 days after its entry, or (b) a judgment, the execution of which is effectively stayed within 30 days after its entry but only for 30 days after the date on which such stay is terminated
or expires) or, in the case of injunctive relief, which if left unstayed could reasonably be expected to have a Material Adverse Effect on Borrower. 
  
 6.1.7 Change in Control. Without the consent of the Majority Lenders, (a) any entity, person (within the meaning of Section 14(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)) or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) that theretofore was beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of less
than 30% of Borrower’s voting stock shall have acquired beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act), directly or indirectly, of voting stock of Borrower (or other securities convertible into such voting stock)
representing 30% or more of the combined voting power of all voting stock of Borrower; or (b) during any period of up to 24 consecutive months, commencing after the date hereof, individuals who at the beginning of such 24-month period were directors
of Borrower shall cease for any reason to constitute a majority of the board of directors of Borrower, provided that any person becoming a director subsequent to the date hereof, whose election, or nomination for election by Borrower’s
shareholders, was approved by a vote of at least a majority of the directors who were either directors at the beginning of such period or whose election or nomination for election was previously so approved (other than the election or nomination of
an individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the directors of Borrower) shall be, for purposes of this provision, considered as though such person were a
member of the board as of the beginning of such period. 
  
 6.1.8
ERISA Violations. If Borrower or any ERISA Affiliate should establish, maintain, contribute to or become obligated to contribute to any ERISA Plan and (a) a Reportable Event shall have occurred with respect to any ERISA Plan, or (b) a trustee
shall be appointed by a United States District Court to administer any ERISA Plan, or (c) the PBGC shall institute proceedings to terminate any ERISA Plan, or (d) a complete or partial withdrawal by Borrower or any ERISA Affiliate from any
Multiemployer Plan shall have occurred, or any Multiemployer Plan shall enter reorganization status, become insolvent, or terminate (or notify Borrower or any ERISA Affiliate of its intent to terminate) under Section 4041A of ERISA, or (e) any ERISA
Plan experiences an accumulated funding deficiency under Code Section 412(b); or (f) Borrower or any ERISA Affiliate incurs any liability for a Prohibited Transaction under ERISA Section 502; provided that any of the events described in this
Section 6.1.8 shall result in joint liability to Borrower and all ERISA Affiliates in excess of $5,000,000. 
  
 6.1.9 Material Adverse Change. Any event or occurrence shall have occurred after the Closing Date of whatever nature which materially and adversely
(a) changes the 
  

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 Borrower’s ability to perform its obligations under the Credit Documents or (b) impairs the legality, validity,
binding effect or enforceability of any of the Credit Documents. 
  
 6.1.10 Security. Any of the Credit Documents, once executed and delivered, shall, except as the result of acts or omissions of Administrative Agent or the Lenders, fail to provide Administrative Agent and the Lenders the liens,
security interest, rights, titles, interest, remedies permitted by law, powers or privileges intended to be created thereby or cease to be in full force and effect (except as expressly contemplated by the terms thereof), or the validity thereof or
the applicability thereof to the Loan or other obligations purported to be secured or guaranteed thereby or any part thereof shall be disaffirmed by or on behalf of Borrower or any other party thereto (other than Administrative Agent or the
Lenders). 
  
 6.2 Remedies. Upon the occurrence and during
the continuation of an Event of Default, Administrative Agent and the Lenders may, at the election of the Required Lenders, without further notice of default, presentment or demand for payment, protest or notice of nonpayment or dishonor, or other
notices or demands of any kind, all such notices and demands other than notices required by this Agreement or any of the other Credit Documents being waived (to the extent permitted by Governmental Rule), exercise any or all of the following rights
and remedies, in any combination or order that the Required Lenders may elect, in addition to such other rights or remedies as the Lenders may have hereunder, under the other Credit Documents or at law or in equity. 
  
 6.2.1 Cure by Administrative Agent. Without any obligation to do so
but only during any time when the Loan is outstanding or any other amounts are due and owing hereunder to Administrative Agent or the Lenders, Administrative Agent may make disbursements to or on behalf of Borrower to cure any Event of Default or
Inchoate Default hereunder as the Required Lenders in their sole discretion may consider necessary or appropriate, whether to preserve and protect the Lenders’ interests under this Agreement or any Credit Documents or for any other reason, and
all sums so expended, together with interest on such total amount at the Default Rate (but in no event shall the rate exceed the maximum lawful rate, if applicable), shall be repaid by Borrower to Administrative Agent on demand and shall be secured
by this Agreement and the other Credit Documents and shall constitute an Obligation. 
  
 6.2.2 Acceleration. Administrative Agent and the Lenders may declare and make all sums of accrued and outstanding principal and accrued but unpaid interest remaining under this Agreement together with all
unpaid fees, costs (including Liquidation Costs) and charges due hereunder or under any other Credit Document, immediately due and payable and require Borrower immediately, without presentment, demand, protest or other notice of any kind, all of
which Borrower hereby expressly waives, to pay Administrative Agent or the Lenders an amount in immediately available funds equal to the amount of the outstanding Loan; provided that in the event of an Event of Default occurring under Section
6.1.3 of this Agreement with respect to Borrower, such amount shall become immediately due and payable without further act of Administrative Agent or the Lenders. 
  

 29 

 ARTICLE VII. 
 ADMINISTRATIVE AGENT, SUBSTITUTION, AMENDMENTS, ETC. 
  
 7.1 Appointment, Powers and Immunities. 
  
 7.1.1 Each Lender hereby appoints and authorizes Administrative Agent to act as its agent hereunder and under the other Credit Documents with such powers as are expressly delegated to Administrative Agent by the terms
of this Agreement and the other Credit Documents, together with such other powers as are reasonably incidental thereto. Administrative Agent shall not have any duties or responsibilities except those expressly set forth in this Agreement or in any
other Credit Document, or be a trustee for any Lender. Notwithstanding anything to the contrary contained herein, Administrative Agent shall not be required to take any action which is contrary to this Agreement or any other Credit Document or any
Governmental Rule or exposes Administrative Agent to any liability. Each of Administrative Agent, the Lenders and any of their respective Affiliates shall not be responsible to any other Lender for any recitals, statements, representations or
warranties made by Borrower or its Affiliates contained in this Agreement or in any certificate or other document referred to or provided for in, or received by Administrative Agent, or any Lender under this Agreement, for the value, validity,
effectiveness, genuineness, enforceability or sufficiency of this Agreement, the Notes or any other document referred to or provided for herein or for any failure by Borrower, its respective Affiliates to perform their respective obligations
hereunder or thereunder. Administrative Agent may employ agents and attorneys in fact and shall not be responsible for the negligence or misconduct of any such agents or attorneys in fact selected by it with reasonable care. 
  
 7.1.2 Administrative Agent and its directors, officers, employees or agents
shall not be responsible for any action taken or omitted to be taken by it or them hereunder or under any other Credit Document or in connection herewith or therewith, except for its or their own gross negligence or willful misconduct. Without
limiting the generality of the foregoing, Administrative Agent (a) may treat the payee of any Note as the holder thereof until Administrative Agent receives written notice of the assignment or transfer thereof signed by such payee and in form
satisfactory to Administrative Agent, (b) may consult with legal counsel (including counsel for Borrower), independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good
faith by them in accordance with the advice of such counsel, accountants or experts, (c) makes no warranty or representation to any Lender for any statements, warranties or representations made in or in connection with any Credit Document, (d) shall
not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of any Credit Document on the part of any party thereto or to inspect the property (including the books and records) of
Borrower or any other Person, and (e) shall not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of any Credit Document or any other instrument or document furnished pursuant
hereto. Except as otherwise provided under this Agreement and the other Credit Documents, Administrative Agent shall take such action with respect to the Credit Documents as shall be directed by the Majority Lenders or Required Lenders, as the case
may be. 
  

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 7.2 Reliance. Administrative Agent shall be entitled to rely upon any certificate, notice or other
document (including any cable, telegram, telecopy or telex) believed by it to be genuine and correct and to have been signed or sent by or on behalf of the proper Person or Persons, and upon advice and statements of legal counsel, independent
accountants and other experts selected by Administrative Agent. As to any other matters not expressly provided for by this Agreement, Administrative Agent shall not be required to take any action or exercise any discretion, but shall be required to
act or to refrain from acting upon instructions of the Majority Lenders or Required Lenders, as the case may be (except that Administrative Agent shall not be required to take any action which exposes Administrative Agent to personal liability or
which is contrary to this Agreement, any other Credit Document or any Governmental Rule). Administrative Agent shall in all cases (including when any action by Administrative Agent alone is authorized hereunder, if Administrative Agent elects in its
sole discretion to obtain instructions from the Majority Lenders or Required Lenders, as the case may be) be fully protected in acting, or in refraining from acting, hereunder or under any other Credit Document in accordance with the instructions of
the Majority Lenders or the Required Lenders, as the case may be, and such instructions of the Majority Lenders or the Required Lenders, as the case may be, and any action taken or failure to act pursuant thereto shall be binding on all of the
Lenders. 
  
 7.3 Non-Reliance. Each Lender represents that
it has, independently and without reliance on Administrative Agent or any other Lender, and based on such documents and information as it has deemed appropriate, made its own appraisal of the financial condition and affairs of Borrower and decision
to enter into this Agreement and agrees that it will, independently and without reliance upon Administrative Agent, or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own
appraisals and decisions in taking or not taking action under this Agreement. Each of Administrative Agent and any Lender shall not be required to keep informed as to the performance or observance by Borrower or its Affiliates under this Agreement
or any other document referred to or provided for herein or to make inquiry of, or to inspect the properties or books of Borrower or its Affiliates. 
  
 7.4 Defaults. Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Inchoate Default or Event of Default,
unless such default relates to the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, or Administrative Agent has received a notice from a Lender or Borrower, referring to this
Agreement, describing such Inchoate Default or Event of Default and indicating that such notice is a notice of default. If Administrative Agent receives such a notice of the occurrence of an Inchoate Default or Event of Default, Administrative Agent
shall give notice thereof to the Lenders. Administrative Agent shall take such action with respect to such Inchoate Default or Event of Default as is provided in Article VI or if not provided for in Article VI, as Administrative Agent shall be
reasonably directed by the Required Lenders; provided, however, unless and until Administrative Agent shall have received such directions, Administrative Agent may (but shall not be obligated to) take such action, or refrain from
taking such action, with respect to such Inchoate Default or Event of Default as it shall deem advisable in the best interest of the Lenders. 
  

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 7.5 Indemnification. Without limiting the Obligations of Borrower hereunder, each Lender agrees to
indemnify Administrative Agent, ratably in accordance with its Proportionate Share for any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever
which may at any time be imposed on, incurred by or asserted against Administrative Agent in any way relating to or arising out of this Agreement or any documents contemplated by or referred to herein or therein or the transactions contemplated
hereby or thereby or the enforcement of any of the terms hereof or thereof or of any such other documents; provided, however, that no Lender shall be liable for any of the foregoing to the extent they arise from Administrative
Agent’s gross negligence or willful misconduct. Administrative Agent shall be fully justified in refusing to take or to continue to take any action hereunder or under any other Credit Document unless it shall first be indemnified to its
satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action. Without limitation of the foregoing, each Lender agrees to reimburse Administrative Agent
promptly upon demand for its Proportionate Share of any out-of-pocket expenses (including counsel fees) incurred by Administrative Agent in connection with the preparation, execution, administration or enforcement of, or legal advice in respect of
rights or responsibilities under, the Credit Documents, to the extent that Administrative Agent is not reimbursed for such expenses by Borrower. Notwithstanding the foregoing, Administrative Agent shall not be entitled to indemnification or
reimbursement of its expenses under this Section 7.5 if it would not be entitled to indemnification or reimbursement under Sections 5.14 and 8.4, respectively. 
  

7.6 Successor Administrative Agent. Administrative Agent may resign hereunder at any time by giving written notice thereof to the Lenders and
the Borrower. Administrative Agent may be removed involuntarily only for a material breach of its duties and obligations hereunder, under the other Credit Documents, or for gross negligence or willful misconduct in connection with the performance of
its duties hereunder, or under the other Credit Documents, and then only upon the affirmative vote of the Majority Lenders (excluding Administrative Agent from such vote and Administrative Agent’s Proportionate Share of the Loan from the
amounts used to determine the portion of the Loan necessary to constitute the required Proportionate Shares of the remaining Lenders). Upon any such resignation or removal, the Majority Lenders shall have the right to appoint the successor
Administrative Agent hereunder with the consent of Borrower, which consent shall not be unreasonably withheld or delayed; provided that Borrower’s consent shall not be required if an Event of Default shall have occurred and be continuing
at such time hereunder. If no successor Administrative Agent shall have been so appointed by the Majority Lenders and shall have accepted such appointment, within 30 days after the retiring Administrative Agent’s giving of notice of resignation
or the Lenders’ removal of the retiring Administrative Agent, the retiring Administrative Agent may, on behalf of the Lenders with the consent of Borrower (such consent not to be unreasonably withheld or delayed) appoint the successor
Administrative Agent hereunder which shall be a Lender, if any Lender shall be willing to serve, and otherwise shall be a commercial bank having a combined capital and surplus of at least $500,000,000. Upon the acceptance of any appointment as
Administrative Agent hereunder by a successor Administrative Agent, 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 as Administrative Agent only under the Credit Documents. After 
  

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 any retiring Administrative Agent’s resignation or removal hereunder as Administrative Agent, the provisions of this
Article VII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under the Credit Documents. 
  
 7.7 Authorization. Administrative Agent is hereby authorized by the Lenders to execute, deliver and perform each of the Credit Documents to which
Administrative Agent is or is intended to be a party and each Lender agrees to be bound by all of the agreements of Administrative Agent contained in the Credit Documents. Administrative Agent is further authorized by the Lenders to enter into
agreements supplemental hereto for the purpose of curing any formal defect, inconsistency, omission or ambiguity in this Agreement or any Credit Document to which it is a party. 
  
 7.8 Administrative Agent’s Other Roles. With respect to the Loan made by it and any Notes issued to it,
Administrative Agent shall have the same rights and powers hereunder as any other Lender and may exercise the same as though it were not Administrative Agent. The term “Lender” or “Lenders” shall, unless otherwise expressly
indicated, include Administrative Agent in its individual capacity. Administrative Agent and its Affiliates may accept deposits from, lend money to, act as trustee under indentures of, and generally engage in any kind of business with Borrower or
any other Person, without any duty to account therefor to the Lenders. 
  
 7.9 Amendments; Waivers. Subject to the provisions of this Section 7.9, unless otherwise specified in this Agreement or another Credit Document, the Majority Lenders (or Administrative Agent with the consent in writing of the
Majority Lenders) and Borrower may enter into agreements supplemental hereto for the purpose of adding, modifying or waiving any provisions to the Credit Documents or changing in any manner the rights of the Lenders or Borrower hereunder or waiving
any Inchoate Default or Event of Default; provided, however, that no such supplemental agreement shall, without the consent of all of the Lenders: 
  

(a) Modify Section 2.4, 2.7.1, 2.8.1, 2.8.2, 2.8.3, 2.9, 2.10, 2.11, 7.1, 7.13, or 7.14; or 
  
 (b) Reduce the percentage specified in the definition of Majority Lenders or
Required Lenders; or 
  
 (c) Permit Borrower to assign its rights
under this Agreement; or 
  
 (d) Amend this Section 7.9 or amend
any defined term set forth herein, in any Credit Document or in Exhibit A, to the extent such amendment would have the effect of violating the effect of the provisions of this Section 7.9; or 
  
 (e) Release any collateral from a lien securing the Obligations of Borrower
hereunder or release any funds from any account otherwise than in accordance with the terms hereof; or 
  
 (f) Extend the maturity of the Loan (including any extension of the Maturity Date) or any Notes or reduce the principal amount thereof; or 
  

 33 

 (g) Reduce the rate or change the time of payment of interest due on the Loan or any Note; or 

 
 (h) Reduce the amount or change the time of payment of any fee or other
amount due or payable. 
  
 7.10 Withholding Tax.

  
 7.10.1 If the forms or other documentation required by
Section 2.8.7 are not delivered to Administrative Agent, then Administrative Agent may withhold from any interest payment to any Lender not providing such forms or other documentation, an amount equivalent to the applicable withholding tax.

  
 7.10.2 If the Internal Revenue Service or any authority of
the United States or other jurisdiction asserts a claim that Administrative Agent did not properly withhold tax from amounts paid to or for the account of any Lender (because the appropriate form was not delivered, was not properly executed, or
because such Lender failed to notify Administrative Agent of a change in circumstances which rendered the exemption from, or reduction of, withholding tax ineffective, or for any other reason) such Lender shall indemnify Administrative Agent fully
for all amounts paid, directly or indirectly, by Administrative Agent as tax or otherwise, including penalties and interest, together with all expenses incurred, including legal expenses, allocated staff costs, and any out of pocket expenses.
Borrower shall not be responsible for any amounts paid or required to be paid by a Lender under this Section 7.10.2. 
  
 7.10.3 If any Lender sells, assigns, grants participations in, or otherwise transfers its rights under this Agreement, the purchaser, assignee, transferee
or participant shall comply with and be bound by the terms of Sections 2.8.7, 7.10.1 and 7.10.2 as though it were such Lender. 
  
 7.11 General Provisions as to Payments. Administrative Agent shall promptly distribute to each Lender its pro rata share of each payment of
principal and interest payable to the Lenders on the Loan and of fees hereunder received by Administrative Agent for the account of the Lenders and of any other amounts owing under the Loan. The payments made for the account of each Lender shall be
made, and distributed to it, for the account of (a) its domestic lending office in the case of payments of principal of, and interest on, its Base Rate Loan, (b) its domestic or foreign lending office, as each Lender may designate in writing to
Administrative Agent, in the case of payments of principal of, and interest on, its LIBOR Loan, and (c) its domestic lending office, or such other lending office as it may designate for the purpose from time to time, in the case of payments of fees
and other amounts payable hereunder. Each Lender shall have the right to alter its designated domestic lending office upon notice to Administrative Agent and Borrower. 
  
 7.12 Substitution of Lender. Should any Lender fail to fund the Loan in violation of its obligations under this
Agreement (a “Non-Advancing Lender”), Administrative Agent (a) may, in its sole discretion, fund the Loan on behalf of the Non-Advancing Lender, and (b) shall cooperate with Borrower or any other Lender to find another Person that
shall be acceptable to Administrative Agent and Borrower (unless an Event of Default shall have 
  

 34 

 occurred and is continuing) and that shall be willing to assume the Non-Advancing Lender’s obligations under this
Agreement (including the obligation to make the Loan which the Non-Advancing Lender failed to make but without assuming any liability for damages for failing to have made such Loan). Subject to the provisions of the next following sentence, such
Person shall be substituted for the Non-Advancing Lender hereunder upon the payment by such Person of all interest and fees owed to the Non-Advancing Lender and execution and delivery to Administrative Agent of an agreement acceptable to
Administrative Agent and Borrower by such Person assuming the Non-Advancing Lender’s obligations under this Agreement, and all interest and fees which would otherwise have been payable to the Non-Advancing Lender shall thereafter be payable to
such Person. Nothing in (and no action taken pursuant to) this Section 7.12 shall relieve the Non-Advancing Lender from any liability it might have to Borrower or to the other Lenders as a result of its failure to make any Loan. 
  
 7.13 Participations. Nothing herein provided shall prevent any Lender
from selling a participation in its Proportionate Share of the Loan; provided that (a) no such sale of a participation shall alter such Lender’s or Borrower’s obligations hereunder, and (b) any agreement pursuant to which any Lender may
grant a participation in its rights with respect to its Proportionate Share shall provide that, with respect to such Proportionate Share, subject to the following proviso, such Lender shall retain the sole right and responsibility to exercise the
rights of such Lender, and enforce the obligations of Borrower relating to such Proportionate Share, including the right to approve any amendment, modification or waiver of any provision of this Agreement or any other Credit Document and the right
to take action to have the Notes declared due and payable pursuant to Article VI; provided, however, that such agreement may provide that the participant may have rights to approve or disapprove decreases in principal, interest rates or fees,
lengthening of maturity of the Loan, postponements of any due dates for payments hereunder. No recipient of a participation in any Proportionate Share of the Loan of any Lender shall have any rights under this Agreement or shall be entitled to any
reimbursement for taxes, other taxes, increased costs or reserve requirements under Section 2.10.3 or any other indemnity or payment rights against Borrower in excess of a proportionate amount which would have been payable to the Lender from whom
such Person acquired its participation. 
  
 7.14 Transfer of
Loans and Notes. Notwithstanding anything else herein to the contrary, any Lender, after receiving Administrative Agent’s prior written consent (which consent shall not be unreasonably withheld or delayed) and, unless an Event of Default
shall have occurred and is continuing, the prior written consent of Borrower (which consent shall not be unreasonably withheld or delayed) may, from time to time, at its option, sell, assign, transfer, negotiate or otherwise dispose of a portion of
its Loan and Note, in the minimum amount of $3,000,000 or an integral multiple of $1,000,000 in excess thereof, to any Person which in such assigning Lender’s good faith judgment is reasonably capable of performing the obligations of a Lender
hereunder and reasonably experienced in corporate financing, or to any commercial bank or financial institution; provided, however, that in the case of an assignment by a Lender to another Lender or Affiliate of a Lender, the prior
consent of Administrative Agent and Borrower shall not be required and the minimum assignment amount specified above shall not apply as long as the assigning Lender continues to hold a Loan of no less than $3,000,000 (all such figures based on the
original principal amount of the Loan). In the event of any assignment made pursuant to this Section 7.14, (a) the assigning Lender’s Loan shall be reduced by the 
  

 35 

 amount assigned to the new Lender, (b) the parties to such assignment shall execute and deliver an appropriate agreement
evidencing such sale, assignment, transfer or other disposition, in form and substance reasonably satisfactory to Administrative Agent and Borrower, (c) the parties to the sale, assignment, transfer or other disposition, excluding Borrower, shall
collectively pay to Administrative Agent an administrative fee of $3,500, and (d) at the assigning Lender’s option, Borrower shall execute and deliver to such new Lender Notes in the forms attached hereto as Exhibit B, in a principal
amount equal to its Loan but only if it shall also be executing or exchanging with the assigning Lender a replacement Note for any Note in an amount equal to the Proportionate Share retained by the Lender, if any (provided that Borrower shall have
received for cancellation the existing Note held by the assigning Lender). Thereafter, such new Lender shall be deemed to be a Lender and shall have all of the rights and duties of a Lender (except as otherwise provided in this Article VII), in
accordance with its Proportionate Share, under each of the Credit Documents. 
  
 7.15 Laws. Notwithstanding the foregoing provisions of this Article VII, no sale, assignment, transfer, negotiation or other disposition of the interests of any Lender hereunder or under the other Credit
Documents shall be allowed if it would require registration under the federal Securities Act of 1933, as then amended, any other federal securities laws or regulations or the securities laws or regulations of any applicable jurisdiction. Borrower
shall, from time to time at the request and expense of Administrative Agent, execute and deliver to Administrative Agent, or to such party or parties as Administrative Agent may designate, any and all further instruments as may in the reasonable
opinion of Administrative Agent be necessary or advisable on the part of Borrower to give full force and effect to such disposition. 
  
 7.16 Assignability as Collateral. Notwithstanding any other provision contained in this Agreement or any other Credit Document to the contrary, any
Lender may assign all or any portion of the Loan or Notes held by it as collateral security provided that any payment in respect of such assigned Loan or Notes made by Borrower to or for the account of the assigning and/or pledging Lender in
accordance with the terms of this Agreement shall satisfy Borrower’s obligations hereunder in respect to such assigned Loan or Notes to the extent of such payment. No such assignment shall release the assigning Lender from its obligations
hereunder. 
  
 ARTICLE VIII. 
 MISCELLANEOUS 
  
 8.1 Addresses. Any communications between the parties hereto or notices provided herein to be given shall be given to the following addresses:

  

 36 

	 If to Administrative Agent:
	  	 Bayerische Hypo-  und Vereinsbank AG,

	 	  	 New York Branch

	 	  	 150 East 42nd Street

	 	  	 New York, NY 10017-5612

	 	  	 Attn: Sebastian Beuerle
 Telephone No.: (212) 672-5394
 Telecopy No.: (212) 672-5530

		
	 	  	 and to

		
	 	  	 Attn: Julia Posada

	 	  	 Telephone No.: (212) 672-6076

	 	  	 Telecopy No.: (212) 672-6102

		
	 If to Borrower:
	  	 TECO Energy, Inc.

	 	  	 702 North Franklin Street

	 	  	 Tampa, FL 33602

	 	  	 Attention: Corporate Secretary

	 	  	 Telephone No.: (813) 228-1808

	 	  	 Telecopy No.:. (813) 228-1328

		
	 If to Lenders:
	  	 To the address specified on Schedule 1 attached hereto.

  
 All notices or other
communications required or permitted to be given hereunder shall be in writing and shall be considered as properly given (a) if delivered in person, (b) if sent by overnight delivery service (including Federal Express, ETA, Emery, DHL, AirBorne and
other similar overnight delivery services), (c) if mailed by first class United States Mail, postage prepaid, registered or certified with return receipt requested, or (d) if sent by facsimile. Notice so given shall be effective upon receipt by the
addressee, except that communication or notice so transmitted by telecopy or other direct written electronic means shall be deemed to have been validly and effectively given on the day (if a Banking Day and, if not, on the next following Banking
Day) on which it is transmitted if transmitted before 4:00 p.m., recipient’s time, and if transmitted after that time, on the next following Banking Day; provided, however, that if any notice is tendered to an addressee and the
delivery thereof is refused by such addressee, such notice shall be effective upon such tender. Any party shall have the right to change its address for notice hereunder to any other location within the continental United States by giving of 30
days’ notice to the other parties in the manner set forth above; provided, however, that a Lender shall have the right to change its address for notice hereunder by giving notice to Administrative Agent and Borrower only.

  
 8.2 Additional Security; Right to Set-Off. Any deposits
or other sums at any time credited or due from the Lenders and any securities or other property of Borrower in the possession of Administrative Agent may at all times be treated as collateral security for the payment of the Loan and any Notes and
all other obligations of Borrower to the Lenders under this Agreement and the other Credit Documents, and Borrower hereby pledges to Administrative Agent for the benefit of the Lenders and grants Administrative Agent a security interest in and to

  

 37 

 all such deposits, sums, securities or other property. Regardless of the adequacy of any other collateral, Administrative
Agent may execute or realize on the Lenders security interest in any such deposits or other sums credited by or due from the Lenders to Borrower, and may apply any such deposits or other sums to or set them off against Borrower’s obligations to
the Lenders under any Notes and this Agreement at any time after the occurrence and during the continuance of any Event of Default. 
  
 8.3 Delay and Waiver. No delay or omission to exercise any right, power or remedy accruing to the Lenders upon the occurrence of any Event of
Default, Inchoate Default or any breach or default of Borrower under this Agreement or any other Credit Document shall impair any such right, power or remedy of the Lenders, nor shall it be construed to be a waiver of any such breach or default, or
an acquiescence therein, or of or in any similar breach or default thereafter occurring, nor shall any waiver of any single Event of Default, Inchoate Default or other breach or default be deemed a waiver of any other Event of Default, Inchoate
Default or other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of Administrative Agent and/or the Lenders of any Event of Default, Inchoate Default or other breach
or default under this Agreement or any other Credit Document, or any waiver on the part of Administrative Agent and/or the Lenders of any provision or condition of this Agreement or any other Credit Document, must be in writing and shall be
effective only to the extent in such writing specifically set forth. All remedies, either under this Agreement or any other Credit Document or by law or otherwise afforded to Administrative Agent and the Lenders, shall be cumulative and not
alternative. 
  
 8.4 Costs, Expenses and Attorneys’ Fees.
Borrower will pay to Administrative Agent all of its reasonable costs and expenses in connection with the preparation, negotiation, closing and administering of this Agreement and the documents contemplated hereby and any participation or
syndication of the Loan or this Agreement, including the reasonable fees, expenses and disbursements of a single legal counsel, together with a single legal counsel in each applicable local jurisdiction, retained by Administrative Agent in
connection with the preparation of such documents and any amendments hereof. Borrower will reimburse (a) Administrative Agent for all costs and expenses, including reasonable attorneys’ fees, expended or incurred by Administrative Agent, and
the Lenders for their reasonable internal out-of-pocket expenses (but not, in the case of the Lenders for attorney’s fees) in enforcing this Agreement or the other Credit Documents in connection with an Event of Default or Inchoate Default, in
actions for declaratory relief in any way related to this Agreement or in collecting any sum which becomes due Administrative Agent or the Lenders on the Notes or under the Credit Documents and (b) Administrative Agent and the Lenders for their
reasonable out-of-pocket expenses, including reasonable attorney fees, in the case of a restructuring or other workout of the Loan in connection with the bankruptcy or insolvency of Borrower or any payment default requiring, among other things,
amendments to the interest rates and/or repayment dates for the Loan. Borrower shall not be responsible for any counsel fees of Administrative Agent or the Lenders other than as set forth above. 
  
 8.5 Entire Agreement. This Agreement and any agreement, document or
instrument attached hereto or referred to herein integrate all the terms and conditions mentioned herein or incidental hereto and supersede all oral negotiations and prior writings in respect to the subject 
  

 38 

 matter hereof. In the event of any conflict between the terms, conditions and provisions of this Agreement and any such
agreement, document or instrument, the terms, conditions and provisions of this Agreement shall prevail. 
  
 8.6 Governing Law. THIS AGREEMENT, AND ANY INSTRUMENT OR AGREEMENT REQUIRED HEREUNDER (TO THE EXTENT NOT OTHERWISE EXPRESSLY PROVIDED FOR THEREIN),
SHALL BE GOVERNED BY, AND CONSTRUED UNDER, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO CONFLICTS OF LAWS (OTHER THAN SECTION 5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
  
 8.7 Severability. In case any one or more of the provisions contained
in this Agreement should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
  
 8.8 Headings. Paragraph headings have been inserted in this Agreement
as a matter of convenience for reference only; such paragraph headings are not a part of this Agreement and shall not be used in the interpretation of any provision of this Agreement. 
  
 8.9 Accounting Terms. All accounting terms not specifically defined
herein shall be construed in accordance with GAAP and practices consistent with those applied in the preparation of the financial statements submitted by Borrower to Administrative Agent, and all financial data submitted pursuant to this Agreement
shall be prepared in accordance with such principles and practices. 
  
 8.10 No Partnership, Etc. The Lenders and Borrower intend that the relationship between them shall be solely that of creditor and debtor. Nothing contained in this Agreement, the Notes or in any of the other Credit Documents shall be
deemed or construed to create a partnership, tenancy-in-common, joint tenancy, joint venture or co-ownership by or between the Lenders and Borrower or any other Person. 
  
 8.11 Limitation on Liability. No claim shall be made by Borrower or any of its Affiliates against the Lenders or any
of their Affiliates, directors, employees, attorneys or agents for any loss of profits, business or anticipated savings, special or punitive damages or any indirect or consequential loss whatsoever in respect of any breach or wrongful conduct
(whether or not the claim therefor is based on contract, tort or duty imposed by law), in connection with, arising out of or in any way related to the transactions contemplated by this Agreement or the other Credit Documents or any act or omission
or event occurring in connection therewith; and Borrower hereby waives, releases and agrees not to sue upon any such claim for any such damages, whether or not accrued and whether or not known or suspected to exist in its favor. 

 
 8.12 Waiver of Jury Trial. THE LENDERS, ADMINISTRATIVE AGENT AND
BORROWER HEREBY KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVE ANY RIGHTS THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT, OR
ANY COURSE OR CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR 
  

 39 

 WRITTEN), OR ACTIONS OF ADMINISTRATIVE AGENT, THE LENDERS OR BORROWER. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE
LENDERS AND ADMINISTRATIVE AGENT TO ENTER INTO THIS AGREEMENT. 
  
 8.13 Consent to Jurisdiction. The Lenders, Administrative Agent and Borrower agree that any legal action or proceeding by or against Borrower or with respect to or arising out of this Agreement, the Notes, or any other Credit
Document may be brought in or removed to the courts of the State of New York, in and for the County of New York, or of the United States of America for the Southern District of New York, as Administrative Agent may elect. By execution and delivery
of this Agreement, the Lenders, Administrative Agent and Borrower accept, for themselves and in respect of their property, generally and unconditionally, the jurisdiction of the aforesaid courts. The Lenders, Administrative Agent and Borrower
irrevocably consent to the service of process out of any of the aforementioned courts in any manner permitted by law. Nothing herein shall affect the right of Administrative Agent to bring legal action or proceedings in any other competent
jurisdiction. Notwithstanding the foregoing, service of process shall not be deemed served or mailed to Administrative Agent or the Lenders until a copy of all matters to be served have been mailed to Latham & Watkins, 505 Montgomery Street,
Suite 1900, San Francisco, California 94111, Attn: John Kenney or such other Person as Administrative Agent or the Lenders may hereafter designate by notice specifically referring to this Section 8.13 given pursuant to Section 8.1. The Lenders,
Administrative Agent and Borrower further agree that the aforesaid courts of the State of New York and of the United States of America shall have exclusive jurisdiction with respect to any claim or counterclaim of Borrower based upon the assertion
that the rate of interest charged by the Lenders on or under this Agreement, the Loan and/or the other Credit Documents is usurious. The Lenders, Administrative Agent and Borrower hereby waive any right to stay or dismiss any action or proceeding
under or in connection with this Agreement or any other Credit Document brought before the foregoing courts on the basis of forum non-conveniens. 
  
 8.14 Knowledge and Attribution. References in this Agreement and the other Credit Documents to the “knowledge,” “best
knowledge” or facts and circumstances “known to” Borrower, and all like references, mean facts or circumstances of which a Responsible Officer of Borrower has actual knowledge. 
  
 8.15 Successors and Assigns. The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Borrower may not assign or otherwise transfer any of their rights under this Agreement, and the Lenders may not assign or otherwise transfer any
of their rights under this Agreement except as provided in Article VII. 
  
 8.16 Counterparts. This Agreement may be executed in one or more duplicate counterparts and when signed by all of the parties listed below shall constitute a single binding agreement. 
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 40 

 IN WITNESS WHEREOF, the parties have caused this Credit Agreement to be duly executed by their officers
thereunto duly authorized as of the day and year first above written. 
  
  

	 TECO ENERGY, INC.

		
	 By:
	 	 /s/ Gordon L. Gillette

	 	 	 Name: Gordon L. Gillette

	 	 	 Title: Senior Vice President - Finance and
Chief Financial Officer

  

	BAYERISCHE HYPO- UND VEREINSBANK
AG, NEW YORK BRANCH,
	 as Administrative Agent and Lender

		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

	
	DEXIA CREDIT LOCAL, NEW YORK AGENCY
		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

	
	 BANK OF MONTREAL

		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

	 BAYERISCHE HYPO- UND VEREINSBANK

	 AG, NEW YORK BRANCH,

	 as Administrative Agent and Lender

		
	 By:
	 	 /s/ Yoram Dankner

	 	 	 Name:    Yoram Dankner

	 	 	 Title:      Managing Director

  

	 By:
	 	 /s/ Sebastian Beuerie

	 	 	 Name:    Sebastian Beuerie

	 	 	 Title:      Associate Director

  

 Signature Page to Credit Agreement 
 S-2 

	DEXIA CREDIT LOCAL, NEW YORK AGENCY
		
	 By:
	 	 /s/ Marc Brugiere

	 	 	 Name:    Marc Brugiere

	 	 	 Title:      General Manager

		
	 By:
	 	 /s/ Timothy Ononiwu

	 	 	 Name:    Timothy Ononiwu

	 	 	 Title:      Vice President

  

 Signature Page to Credit Agreement 
 S-3 

	 BMO NESBITT BURNS FINANCING, INC.

		
	 By:
	 	 /s/ James Whitmore

	 	 	 Name:    James Whitmore

	 	 	 Title:      Managing Director

  

 Signature Page to Credit Agreement 
 S-4 

	 ROYAL BANK OF CANADA

		
	 By:
	 	 /s/ David A. McCluskey

	 	 	 Name:    David A. McCluskey

	 	 	 Title:      Manager

  

 Signature Page to Credit Agreement 
 S-5 

 SCHEDULE 1 
  
 LENDERS, LENDING OFFICES AND PROPORTIONATE 
 SHARES UNDER THE FACILITY 
  

	 Lender

	 	Percentage of Loan

		
	 BAYERISCHE HYPO- UND VEREINSBANK AG,
 NEW YORK BRANCH
 150 East 42nd Street
 New York, NY 10017
	 	25%
		
	 DEXIA CRÉDIT LOCAL, NEW YORK AGENCY
 445 Park Avenue
 New York, NY 10022
	 	25%
		
	 BMO NESBITT BURNS FINANCING, INC.
 700 Louisiana, Suite 4400
 Houston, TX 77002
	 	25%
		
	 ROYAL BANK OF CANADA
 One Liberty Plaza, 3rd Floor
 New York, NY 10006-1404
	 	25%

 SCHEDULE 5.3 
  
 EXCEPTIONS TO PROHIBITION 
 ON TRANSFERS 
  
 Indenture of
Mortgage dated as of August 1, 1946, between Tampa Electric Company and State Street Bank and Trust Company, as Trustee, as supplemented and amended. 
  
 Schedule 5.3—1 

 EXHIBIT A 
  

DEFINITIONS 
  
 “Administrative Agent” has the meaning given in the first paragraph of the Credit Agreement. 
  
 “Affiliates” of a specified Person means any other Person
that directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with the Person specified, or who holds or beneficially owns 25% or more of the equity interest in the Person specified or 25% or
more of any class of voting securities of the Person specified. 
  
 “Applicable Margin” means, for any day while the Loan is outstanding, 4.50% for LIBOR Loans and 3.50% for Base Rate Loans, provided, however, that at any such time as Borrower’s long term senior unsecured
non credit enhanced debt is rated less than BBB- by S&P or Baa3 by Moody’s, the Applicable Margin for such day shall be increased by 1.00% per annum, and provided, further, that beginning on the day after the Maturity
Date, the Applicable Margin shall increase by 1.00% per month for each month that the Loan is not repaid, until the Applicable Margin is equal to 12%, in addition to the Default Rate. 
  
 “Banking Day” means any day other than a Saturday, Sunday or other day on which banks are or are authorized
to be closed in New York, New York and, where such term is used in any respect relating to a LIBOR Loan, which is also a day on which dealings in Dollar deposits are carried out in the London interbank market. 
  
 “Bankruptcy Event” shall be deemed to occur, with respect to
any Person, if that Person shall institute a voluntary case seeking liquidation or reorganization under the Bankruptcy Law, or shall consent to the institution of an involuntary case thereunder against it; or such Person shall file a petition or
consent or shall otherwise institute any similar proceeding under any other applicable Federal or state law, or shall consent thereto; or such Person shall apply for, or by consent or acquiescence there shall be an appointment of, a receiver,
liquidator, sequestrator, trustee or other officer with similar powers for itself or any substantial part of its assets; or such Person shall make a general assignment for the benefit of its creditors; or such Person shall admit in writing its
inability to pay its debts generally as they become due; or if an involuntary case shall be commenced seeking liquidation or reorganization of such Person under the Bankruptcy Law or any similar proceedings shall be commenced against such Person
under any other applicable Federal or state law and (a) the petition commencing the involuntary case is not timely controverted, (b) the petition commencing the involuntary case is not dismissed within 60 days of its filing, (c) an interim trustee
is appointed to take possession of all or a substantial portion of the property, and/or to operate all or any material part of the business of such Person and such appointment is not vacated within 60 days, or (d) an order for relief shall have been
issued or entered therein; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, trustee or other officer having similar powers, over such Person or all or a substantial part
of its property shall have been entered; or 
  

 A-1 

 any other similar relief shall be granted against such Person under any applicable Federal or state law. 
  
 “Bankruptcy Law” means Title 11, United States Code, and any
other state or federal insolvency, reorganization, moratorium or similar law for the relief of debtors, or any successor statute. 
  
 “Base Rate” means, for any day, a rate per annum (rounded upwards, if necessary, to the next  1/100 of 1%) equal to the greater of (a) the Prime Rate in effect on such day, and (b) the Federal Funds Rate in
effect on such day plus  1/2%. If for any reason Administrative Agent shall have determined that it is
unable to ascertain the Federal Funds Rate, the Base Rate shall be determined without regard to clause (b) hereof, until the circumstances giving rise to such inability no longer exist. Any change in the Base Rate due to a change in the Prime Rate
or the Federal Funds Rate shall be effective on the effective date of such change in the Prime Rate or the Federal Funds Rate, respectively. 
  
 “Base Rate Loan” has the meaning given in Section 2.1.2(a) of the Credit Agreement. 
  
 “Board” means the Board of Governors of the Federal Reserve
System of the United States (or any successor). 
  
 “Borrower” has the meaning given in the first paragraph of the Credit Agreement. 
  
 “Capital Adequacy Requirement” has the meaning given in Section 2.10.4 of the Credit Agreement. 
  
 “Capitalization” means, as to Borrower, the sum of Total
Debt and Consolidated Shareholders Equity, in each case, as of the date of any determination thereof. 
  
 “Capitalized Lease Obligations” means, as to any Person, all rental obligations as lessee which, under GAAP, are or will be required to
be capitalized on the books of such Person, in each case taken at the amount thereof accounted for as indebtedness in accordance with GAAP. 
  
 “Change of Law” has the meaning given in Section 2.10.2 of the Credit Agreement. 
  
 “Closing Date” means the date when each of the conditions
precedent listed in Section 3.1 of the Credit Agreement has been satisfied (or waived in accordance with the terms of the Credit Agreement). 
  
 “Code” means the Internal Revenue Code of 1986, as amended. 
  
 “Collateral” means the collateral securing the Loan, in which Borrower and the Subsidiary Guarantors grant
a Lien pursuant to the Collateral Documents. 
  

 A-2 

 “Collateral Documents” means the Pledge Agreements and the TPS Guaranty. 
  
 “Confirmation of Interest Period Selection” has the meaning
given in Section 2.2.4(b) of the Credit Agreement. 
  
 “Consolidated Shareholders Equity” means, as of the date of any determination, the consolidated tangible net worth of Borrower and its subsidiaries, and including amounts attributable to (a) junior subordinated debentures,
provided that such junior subordinated debentures have subordination and deferral features substantially similar to those in the TECO Subordinated Debentures, and (b) preferred stock to the extent excluded from Total Debt, minus the value of
minority interests in any of Borrower’s subsidiaries, and disregarding unearned compensation associated with Borrower’s employee stock ownership plan or other benefit plans, foreign currency translation adjustments and other comprehensive
income adjustments, all determined in accordance with GAAP. 
  
 “Contingent Obligation” means, as to any Person, any obligation of such Person guaranteeing any Indebtedness or lease obligation (each a “primary obligation”) of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, including any obligation of such Person, whether or not contingent, (a) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (b)
to advance or supply funds (i) for the purchase or payment of any such primary obligation, or (ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, or (c)
otherwise to assure or hold harmless the holder of such primary obligation against loss in respect thereof; provided, however, that the term Contingent Obligation shall not include endorsements of instruments for deposit or collection
in the ordinary course of business. The amount of any Contingent Obligation shall be deemed to be the maximum probable liability in respect thereof (assuming such Person is required to perform thereunder) as determined in good faith by Borrower in
accordance with GAAP. 
  
 “Credit Agreement” or
“Agreement” means the Credit Agreement, dated as of June 24, 2003 among Borrower, Administrative Agent, and the financial institutions parties thereto, to which this Exhibit A is attached. 
  
 “Credit Documents” means, collectively, the Credit
Agreement, any Notes, the Collateral Documents and any other letter agreements or similar documents entered into by Administrative Agent (in its capacity as administrative agent under the Credit Agreement) and Borrower in connection with the
transactions contemplated by the Credit Documents mentioned above. 
  
 “Default Rate” means the interest rate per annum equal to the Base Rate or the LIBOR Rate (as applicable) plus the Applicable Margin, plus 2%. Interest computed with reference to the Default Rate shall be adjusted and
calculated in the same manner as interest computed with reference to the Base Rate or the LIBOR Rate (as applicable). 
  

 A-3 

 “Dollar” and “$” means United States dollars or such coin or currency
of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts in the United States of America. 
  
 “EBITDA” means, for any period, the consolidated Net Income of Borrower and its subsidiaries for such period plus (a) without duplication
and to the extent deducted in determining such consolidated Net Income, the sum of (i) Interest Expense for such period, (ii) consolidated income tax expense for such period, and (iii) all amounts attributable to depreciation and amortization for
such period, and (iv) any extraordinary non-cash charges for such period, minus (b) without duplication and to the extent included in determining such consolidated Net Income, any extraordinary gains for such period, all determined on a consolidated
basis in accordance with GAAP. 
  
 “EBITDA to Interest
Ratio” shall mean, as of the last day of each calendar quarter, the ratio of (a) Borrower’s EBITDA for the 12-month period ending on such day to (b) Borrower’s Interest Expense for the 12-month period ending on such day.

  
 “Equity Interest” means (a) shares of capital
stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person or (b) any warrants, options or other rights to acquire such shares or interests.

  
 “ERISA” means the Employee Retirement Income
Security Act of 1974, as amended. 
  
 “ERISA
Affiliate” means (a) a corporation which is a member of a controlled group of corporations with Borrower within the meaning of Section 414(b) of the Code, (b) a trade or business (including a sole proprietorship, partnership, trust, estate
or corporation) which is under common control with Borrower within the meaning of Section 414(c) of the Code or Section 4001(b)(l) of ERISA, (c) a member of an affiliated service group with Borrower within the meaning of Section 414(m) of the Code,
or (d) an entity treated as under common control with Borrower by reason of Section 414(o) of the Code. 
  
 “ERISA Plan” means any employee benefit plan (a) maintained by Borrower or any ERISA Affiliate, or to which any of them contributes or is
obligated to contribute, for its employees, and (b) covered by Title IV of ERISA or to which Section 412 of the Code applies. 
  
 “Event of Default” has the meaning given in Section 6.1 of the Credit Agreement. 
  
 “Exchange Act” has the meaning given in Section 6.1.7.

  
 “Federal Funds Rate” means, for any day, the
weighted average (rounded upward, if necessary, to the next  1/100 of 1%) of the per annum 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 for such day (or, if such rate is 
  

 A-4 

 not so published for any day, the average rate charged by Administrative Agent on such day on such transactions as
determined by Administrative Agent). 
  
 “Federal Reserve
Board” means the Board of Governors of the Federal Reserve System. 
  
 “FERC” means the Federal Energy Regulatory Commission and its successors. 
  
 “GAAP” means generally accepted accounting principles in the United States, consistently applied. 
  
 “Governmental Authority” means any national, state or local
government (whether domestic or foreign), any political subdivision thereof or any other governmental, quasi-governmental, judicial, regulatory, public or statutory instrumentality, authority, body, agency, bureau or entity (including any zoning
authority, FERC, PUHCA, the Comptroller of the Currency or the Federal Reserve Board, any central bank or any comparable authority) or any arbitrator with authority to bind a party to the Credit Agreement at law. 
  
 “Governmental Rule” means any law, rule, regulation,
ordinance, order, code interpretation, treaty, judgment, decree, directive, guidelines, policy or similar form of decision of any Governmental Authority. 
  
 “Hedge Transactions” means transactions under any interest swap agreements, caps, collars or other interest rate hedging mechanisms.

  
 “Inchoate Default” means any occurrence,
circumstance or event, or any combination thereof, which, with the lapse of time and/or the giving of notice, would constitute an Event of Default. 
  
 “Indebtedness” of any Person means, without duplication, (a) all indebtedness of such Person for borrowed money, (b) the deferred
purchase price of assets or services which in accordance with GAAP would be shown on the liability side of the balance sheet of such Person, (c) the face amount of all letters of credit issued for the account of such Person (other than letters of
credit issued to secure a financial obligation of such Person to the extent such obligation is not outstanding at the time) and all unreimbursed drafts drawn thereunder, (d) all Indebtedness of another Person secured by any Lien on any property
owned by such Person, whether or not such Indebtedness has been assumed by such Person, (e) all Capitalized Lease Obligations of such Person, (f) all obligations of such Person under any subscription or similar agreement, (g) the discounted present
value of all obligations of such Person (other than Tampa Electric) payable under agreements for the payment of a specified purchase price for the purchase and resale of power whether or not delivered or accepted, i.e., take-or-pay and
similar obligations, (h) any unfunded or underfunded obligation subject to the minimum funding standards of Section 412 of the Code of such Person to any “employee pension benefit plan” (as defined in Section 3(2) of ERISA) maintained at
any time, or contributed to, by such Person or any other Person which is under common control (within the meaning of Section 414(b) or (c) of the Code) with such Person, (i) all Contingent Obligations of such Person, and (j) all obligations of such
Person in 
  

 A-5 

 respect of Hedge Transactions; provided, however, that Indebtedness shall specifically exclude accounts
payable arising in the ordinary course of business. 
  
 “Indemnitees” has the meaning given in Section 5.14 of the Credit Agreement. 
  
 “Interest Expense” means, for any period, the sum of Base Interest Expense (a) of Borrower and its subsidiaries and (b) accruing on any
Indebtedness of any other Person to the extent such Indebtedness is guaranteed by Borrower or any of its subsidiaries, but excluding any Interest Expense (i) on Non-Recourse Indebtedness, and (ii) on Indebtedness of a Person before the date (A) it
becomes a subsidiary of Borrower, (B) it is merged or consolidated with Borrower, or (C) a subsidiary of Borrower or its assets are acquired by Borrower to the extent that income or loss of such Person is excluded under the definition of Net Income,
each determined for such period on a consolidated basis in accordance with GAAP. For purposes of this definition, “Base Interest Expense” means, with respect to any Person, for any period, total cash interest expense of such Person
payable for such period with respect to all outstanding Indebtedness of such Person, including all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financing and net costs under
hedging agreements to the extent such net costs are allocable to such period in accordance with GAAP. 
  
 “Interest Period” means, with respect to any LIBOR Loan, the time period selected by Borrower which commences on the first day of such
Loan, or on the first day after the last day of the immediately preceding Interest Period, or the effective date of any conversion (as the case may be) and ends on the last day of such time period; provided that no single day shall be deemed to be a
part of two Interest Periods. 
  
 “Legal
Requirements” means, as to any Person, the articles of incorporation, bylaws or other organizational or governing documents of such Person, and any requirement under a Permit, and any Governmental Rule in each case applicable to or binding
upon such Person or any of its properties or to which such Person or any of its property is subject. 
  
 “Lender” or “Lenders” has the meaning given in the first paragraph of the Credit Agreement. 
  
 “Lending Office” means, with respect to any Lender, the
office designated as such beneath the name of such Lender on Schedule 1 or such other office of such Lender as such Lender may specify from time to time to Administrative Agent and Borrower. 
  
 “LIBOR Loan” has the meaning given in Section 2.1.2(a) of
the Credit Agreement. 
  
 “LIBOR Rate” means, for
any LIBOR Loan, a rate per annum (rounded upwards if necessary, to the nearest  1/16th of 1%) equal to (a)(i) the offered rate for deposits in Dollars (in the approximate amount and having approximately the same
Interest Period as the LIBOR Loan to be made) in the London Interbank Market at approximately 11:00 a.m. (London time) two Banking Days prior to the commencement of the applicable Interest Period, which appears on the 
  

 A-6 

 Telerate Screen, or (ii) if such rate does not appear on the Telerate Screen, the rate per annum determined by
Administrative Agent in good faith to be the average (rounded upwards, if necessary, to the nearest  1/16th of 1%) of the rates per annum at which Administrative Agent, at approximately 11:00 a.m. London
time, two Banking Days prior to the commencement of such Interest Period, is offered, by prime banks in the London interbank market selected by Administrative Agent, for deposits in Dollars for a period approximately equal to such Interest Period
and in an amount approximately equal to the principal amount of the Loan scheduled to be outstanding during such Interest Period, divided by (b) 100% minus the Reserve Requirement (expressed as a percentage) for such LIBOR Loan for such Interest
Period. 
  
 “Lien” on any asset means any
mortgage, deed of trust, lien, pledge, charge, security interest, or easement or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected or effective under applicable law, as well as the interest of a
vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement relating to such asset. 
  
 “Liquidation Costs” has the meaning given in Section 2.11 of the Credit Agreement. 
  
 “Loan” has the meaning given in Section 2.1.1(a) of the
Credit Agreement. 
  
 “Majority Lenders” means,
at any time, Lenders holding in excess of 50% of the Proportionate Shares. 
  
 “Material Adverse Effect” means with respect to any Person: 
  
 (a) a material adverse change in the business, property, results of operations, or financial condition of such Person and any Significant Subsidiary
thereof, taken as a whole; or 
  
 (b) any event or occurrence of
whatever nature which materially and adversely (i) changes such Person’s ability to perform its obligations under the Credit Documents to which it is a party or (ii) impairs the legality, validity, binding effect or enforceability of the Credit
Agreement or Notes. 
  
 “Maturity Date” means
June 30, 2004. 
  
 “Minimum Notice Period” means
(a) at least three Banking Days before the date of any continuation or conversion of the Loan resulting in a LIBOR Loan and (b) before 11:00 p.m. on the Banking Day of any conversion of the Loan is requested resulting in whole or in part in one or
more Base Rate Loans. 
  
 “Moody’s” means
Moody’s Investors Service, Inc. 
  
 “Multiemployer
Plan” means any ERISA Plan that is a multiemployer plan (as defined in Section 3(37) of ERISA). 
  

 A-7 

 “Net Income” means, for any period, the net income or loss of Borrower and its
subsidiaries for such period determined on a consolidated basis in accordance with GAAP (and before giving effect to any elimination of minority interests in non-wholly owned subsidiaries); provided that there shall be excluded the income or
loss of any Person accrued before (a) the date it becomes a subsidiary of Borrower, (b) the date it is merged into or consolidated with Borrower or any subsidiary of Borrower, or (c) the date its assets are acquired by Borrower or any subsidiary of
Borrower, other than amounts of income accrued before such date which are actually paid as dividends after such date. 
  
 “Non-Advancing Lender” has the meaning given in Section 7.12 of the Credit Agreement. 
  
 “Non-Recourse Indebtedness” means Indebtedness which is not
an obligation of, and is otherwise without recourse to, the assets or revenues of Borrower or any subsidiary of Borrower (other than the assets or revenues of TPS or any subsidiary of TPS). 
  
 “Note” has the meaning given in Section 2.5 of the Credit
Agreement. 
  
 “Notice of Borrowing” has the
meaning given in Section 2.1.2 of the Credit Agreement. 
  
 “Notice of Conversion of Loan Type” has the meaning given in Section 2.3 of the Credit Agreement. 
  
 “Obligations” means all obligations of Borrower under the Credit Agreement and the other Credit Documents. 
  
 “Other Taxes” has the meaning given in Section 2.8.4 of the
Credit Agreement. 
  
 “PBGC” means the Pension
Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA. 
  
 “Permit” means any action, approval, consent, waiver, exemption, variance, franchise, order, permit, authorization, right or license of or from a Governmental Authority. 
  
 “Person” means any natural person, corporation, partnership,
limited liability company, firm, association, Governmental Authority, trust, trustee or any other entity whether acting in an individual, fiduciary or other capacity. 
  
 “Pledge Agreements” means the Pledge Agreement of each of TPS LP, Inc. and TPS GP, Inc., in substantially
the form of Exhibit E to the Credit Agreement. 
  
 “Prime Rate” means the rate of interest per annum publicly announced from time to time by Administrative Agent as its prime rate in effect at its principal office in New York City (the Prime Rate not being intended to be
the lowest rate of interest charged by Administrative Agent in connection with extensions of credit to debtors). 
  

 A-8 

 “Prohibited Transaction” means any transaction set forth in Section 406 of ERISA or
Section 4975 of the Code which is not exempt under Section 408 of ERISA or Section 4975(d) of the Code. 
  
 “Proportionate Share” means, with respect to each Lender at any time, the percentage participation of such Lender in the Loan as set
forth on Schedule 1 to the Credit Agreement. Upon any transfer by a Lender of all or part of its Loan Participation, the Administrative Agent may revise Schedule 1 to reflect the Lenders’ Proportionate Shares after giving effect to such
transfer. 
  
 “PUHCA” means the Public Utility
Holding Company Act of 1935, as amended. 
  
 “Purchased
Interests” means the ownership interests purchased with the proceeds of the Loan, as described in Recital A of the Credit Agreement. 
  
 “Regulation D” means Regulation D of the Board of Governors of the Federal Reserve System (or any successor). 
  
 “Regulation T” means Regulation T of the Board as in effect
from time to time (and any successor to all or a portion thereof). 
  
 “Regulation U” means Regulation U of the Board as in effect from time to time (and any successor to all or a portion thereof). 
  
 “Regulation X” means Regulation X of the Board as in effect from time to time (and any successor to all or a portion thereof).

  
 “Regulatory Change” means any change after
the date of the Credit Agreement in federal, state, local or foreign laws, regulations, Legal Requirements or requirements under applicable permits, or the adoption or making after such date of any interpretations, directives or requests of or under
any federal, state, local or foreign laws, regulations, Legal Requirements or requirements under applicable permits (whether or not having the force of law) by any Governmental Authority charged with the interpretation or administration thereof.

  
 “Reportable Event” means, as to any Plan, (a)
any of the events set forth in Section 4043(c) of ERISA or the regulations thereunder, other than any such event for which the 30-day notice requirement under ERISA has been waived in regulations issued by the PBGC, (b) a withdrawal from a Plan
described in Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 400l(a)(2) of ERISA), or (c) a cessation of operations described in Section 4062(e) of ERISA. 
  
 “Required Lenders” means, at any time, Lenders holding in
excess of 66- 2/3% of the Proportionate Shares. 
  
 “Reserve Requirement” means, for LIBOR Loans, the maximum
rate (expressed as a percentage) at which reserves (including any marginal, supplemental or emergency reserves) 
  

 A-9 

 are required to be maintained during the Interest Period therefor under Regulation D by member banks of the Federal
Reserve System in New York City with deposits exceeding $1,000,000,000 against “Eurocurrency liabilities” (as such term is used in Regulation D). Without limiting the effect of the foregoing, the Reserve Requirement shall reflect any other
reserves required to be maintained by such member banks by reason of any Regulatory Change against (a) any category of liabilities which includes deposits by reference to which the LIBOR Rate or LIBOR Loans is to be determined, (b) any category of
liabilities or extensions of credit or other assets which include LIBOR Loans, or (c) any category of liabilities or extensions of credit which are considered irrevocable commitments to lend. 
  
 “Responsible Officer” means, as to any Person, its
president, chief executive officer, any vice president, treasurer, or secretary or any managing general partner or manager or managing member of a limited liability company (or any of the preceding with regard to such managing general partner,
manager or managing member). 
  
 “S&P” means
Standard & Poor’s Corporation. 
  
 “Significant
Subsidiary” means, collectively, Tampa Electric, TPS, and any other subsidiary of Borrower formed or acquired after the Closing Date, the total assets (after intercompany eliminations) of which exceed 10% of the total assets of Borrower and
its subsidiaries (taken as a whole). 
  
 “Solvent” means, when used with respect to any Person, as of any date of determination, (a) the amount of the “present fair saleable value” of the assets of such Person will, as of such date, exceed the amount of
all “liabilities of such Person, contingent or otherwise”, as of such date, as such quoted terms are determined in accordance with applicable federal and state laws governing determinations of the insolvency of debtors, (b) the present
fair saleable value of the assets of such Person will, as of such date, be greater than the amount that will be required to pay the liability of such person on its debts as such debts become absolute and matured, (c) such Person will not have, as of
such date, an unreasonably small amount of capital with which to conduct its business, (d) such Person will be able to pay its debts as they mature, and (e) such Person is not insolvent within the meaning of any applicable Legal Requirements. For
purposes of this definition, (i) “debt” means liability on a “claim”, and (ii) “claim” means any (x) right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent,
matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured, or (y) right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is
reduced to judgment, fixed, contingent, matured or unmatured, disputed, undisputed, secured or unsecured. 
  
 “Subject Claims” has the meaning given in Section 5.14(a) of the Credit Agreement. 
  
 “Subsidiary Guarantor” means TPS, TPS LP, Inc. and TPS GP,
Inc. 
  
 “Tampa Electric” means Tampa Electric
Company, a Florida corporation. 
  

 A-10 

 “Taxes” has the meaning given in Section 2.8.4 of the Credit Agreement. 
  
 “TECO Subordinated Debentures” means the 8.50% Junior
Subordinate Notes due 2041, issued by Borrower on December 20, 2000, in the original principal amount of $206,200,000. 
  
 “Telerate Screen” means the display designated as Page 3750 on the Reuters Monitor Money Rates Service (or such page as may replace such
page for the purpose of displaying London Interbank offered rates of major banks, or, if discontinued, any replacement service designated by Administrative Agent). 
  
 “Total Debt” means, without duplication, Indebtedness of Borrower and its Significant Subsidiaries
determined on a consolidated basis outstanding at the date of any determination thereof, but expressly excluding (a) Non-Recourse Indebtedness of Borrower and its subsidiaries, (b) junior subordinated debentures issued by Borrower and its
subsidiaries; provided that such junior subordinated debentures have subordination and deferral features substantially similar to those in the TECO Subordinated Debentures, and (c) preferred stock of Borrower and its subsidiaries in an amount
not to exceed 10% of Borrower’s Capitalization on such date. 
  
 “TPGC” has the meaning given in Recital A to the Credit Agreement. 
  
 “TPS” means TECO Power Services Corporation, a Florida corporation. 
  
 “TPS Guaranty” means the Guaranty of TPS, in substantially the form of Exhibit F to the Credit Agreement. 
  
 “Type” means the type of Loan, whether a Base Rate Loan or
LIBOR Loan. 
  

 A-11 

 RULES OF INTERPRETATION 
  
 1. The singular includes the plural and the plural includes the singular. 
  
 2. “or” is not exclusive. 
  
 3. A reference to a Governmental Rule or Legal Requirement includes any
amendment or modification to such Governmental Rule or Legal Requirement, and all regulations, rulings and other Governmental Rules or Legal Requirement promulgated under such Governmental Rule. 
  
 4. A reference to a Person includes its permitted successors and permitted
assigns. 
  
 5. Accounting terms have the meanings assigned to
them by GAAP, as applied by the accounting entity to which they refer. 
  
 6. The words “include,” “includes” and “including” are not limiting. 
  
 7. A reference in a document to an Article, Section, Exhibit, Schedule, Annex, Appendix or Attachment is to the Article, Section, Exhibit, Schedule,
Annex, Appendix or Attachment of such document unless otherwise indicated. Exhibits, Schedules, Annexes, Appendices or Attachments to any document shall be deemed incorporated by reference in such document. 
  
 8. References to any document, instrument or agreement (a) shall include all
exhibits, schedules and other attachments thereto, (b) shall include all documents, instruments or agreements issued or executed in replacement thereof, and (c) shall mean such document, instrument or agreement, or replacement or predecessor
thereto, as amended, modified and supplemented from time to time and in effect at any given time. 
  
 9. The words “hereof,” “herein” and “hereunder” and words of similar import when used in any document shall refer to such
document as a whole and not to any particular provision of such document. 
  
 10. References to “days” shall mean calendar days, unless the term “Banking Days” shall be used. References to a time of day shall mean such time in New York, New York, unless otherwise specified.

  
 11. The Credit Documents are the result of negotiations
between, and have been reviewed by Borrower, Administrative Agent, each Lender and their respective counsel. Accordingly, the Credit Documents shall be deemed to be the product of all parties thereto, and no ambiguity shall be construed in favor of
or against Borrower, Administrative Agent or any Lender solely as a result of any such party having drafted or proposed the ambiguous provision. 
  

 A-12 

 EXHIBIT B 
 to Credit Agreement 
  
 FORM OF
NOTE 
  

	 $                        
	 	New York, New York

                     , 200     
  
 For value received, the undersigned TECO ENERGY, INC., a Florida corporation (“Borrower”), promises to pay
to                                  (“Lender”), or order, at the
office of Bayerische Hypo- Und Vereinsbank, New York Branch, located at                              ,
Attn:                          , in lawful money of the United States of America and in immediately available funds, the
principal amount of
                                        
AND 00/100 DOLLARS ($                 ), and all other amounts owed by Borrower to Lender hereunder and under the Credit Agreement referred to below. 

 
 This is one of the Notes referred to in the Credit Agreement, dated as of
June 24, 2003 (as amended from time to time, the “Credit Agreement”), by and among Borrower, the financial institutions named therein (the “Lenders”) and Bayerische Hypo- Und Vereinsbank AG, New York Branch, as
Administrative Agent for the Lenders (“Administrative Agent”), and is entitled to the benefits thereof and is subject to all terms, provisions and conditions thereof. Capitalized terms used and not defined herein shall have the
meanings set forth in the Credit Agreement. 
  
 The principal
amount hereof is payable in accordance with the Credit Agreement, and such principal amount may be prepaid solely in accordance with the Credit Agreement. 
  
 Borrower further agrees to pay, in lawful money of the United States of America and in immediately available funds, interest from the date hereof on the
unpaid and outstanding principal amount hereof until such unpaid and outstanding principal amount shall become due and payable (whether at stated maturity, by acceleration or otherwise) at the rates of interest and at the times set forth in the
Credit Agreement and Borrower agrees to pay other fees and costs as stated in the Credit Agreement. 
  
 If any payment on this Note becomes due and payable on a date which is not a Banking Day, such payment shall be made on the first succeeding, or next
preceding, Banking Day, in accordance with the terms of the Credit Agreement. 
  
 Upon the occurrence and during the continuation of any one or more Events of Default, all amounts then remaining unpaid on this Note may become or be declared to be immediately due and payable as provided in the
Credit Agreement and other Credit Documents, without notice of default, presentment or demand for payment, protest or notice of nonpayment or dishonor, or notices or demands of any kind, all of which are expressly waived by Borrower. 
  
 Borrower agrees to pay costs and expenses, including without limitation
attorneys’ fees, as set forth in Section 8.4 of the Credit Agreement. 

 This Note has been executed and delivered in and shall be construed and interpreted in accordance with
and governed by the laws of the State of New York, without reference to conflicts of laws (other than Section 5-1401 and Section 5-1402 of the New York General Obligations Law). 
  

	 TECO ENERGY, INC.

		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

 EXHIBIT C-l 
 to Credit Agreement 
  
 FORM OF
NOTICE OF BORROWING 
 (Delivered pursuant to Section 2.1.2 
 of the TECO Energy, Inc. Credit Agreement) 
  
 [Date] 
  
 Bayerische Hypo- Und
Vereinsbank AG, 
 New York Branch, 
 as Administrative Agent for the Lenders 
 150 East 42nd Street 
 New York, NY 10017 
 Attention: Julia Posada 
 Fax: (212) 672-6102 
  

	Re:	 	TECO Energy, Inc.: Notice of Borrowing 

  
 Reference is hereby made to the Credit Agreement dated as of June 24, 2003 (as amended from time to time, the “Credit Agreement”), among
TECO Energy, Inc., a Florida corporation (“Borrower”), the financial institutions named therein (the “Lenders”), and Bayerische Hypo- Und Vereinsbank AG, New York Branch, as Administrative Agent for the Lenders. All
capitalized terms used herein shall have the respective meanings specified in Exhibit A to the Credit Agreement unless otherwise defined herein. 
  
 Pursuant to Section 2.1.2 of the Credit Agreement, Borrower hereby requests the following Loans as set forth below (select one): 
  
  ̈ Borrowing of Base Rate Term Loan  ̈ Borrowing of LIBOR Term Loan 
  

	 	1.	 	The proposed date of the Borrowing is                     , 2003, which
date is a Banking Day no later than                     , 2003. 

  

	 	2.	 	The principal amount of the requested Loan is $                    .

  

	 	3.	 	If the Loan is a LIBOR Loan, Borrower hereby requests an initial Interest Period of          month(s). 

  
 Borrower hereby certifies as follows: 
  
 (a) Each representation and warranty made in Article IV of the Credit
Agreement is true and correct as of the date hereof and will be true and correct as of the proposed date of the Loan. 
  
 (b) There exists no Event of Default or Inchoate Default as of the date hereof and will exist no Event of Default or Inchoate Default as of the date of
the Loan. 

 (c) The conditions precedent set forth in Section 3.2 of the Credit Agreement have been satisfied or will
be satisfied on the date of the Loan, or have been waived in writing by Administrative Agent with, as applicable, the consent of the Lenders. 
  
 (d) The Loan requested herein complies with the terms of the Credit Agreement. 
  
 IN WITNESS WHEREOF, Borrower has executed this Notice of Borrowing on the date set forth above. 
  

	 TECO ENERGY, INC.

		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

  
 The undersigned acknowledges
receipt of a copy of 
 this Notice of Borrowing: 
  
 BAYERISCHE HYPO- UND VEREINSBANK AG, 
 NEW YORK BRANCH, 
 as Administrative Agent for the Lenders 
  

	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

		
	 Date:
	 	 

 EXHIBIT C-2 
 to Credit Agreement 
  
 FORM OF
NOTICE OF CONVERSION OF LOAN TYPE 
 (Delivered pursuant to Section 2.3 
 of the TECO Energy, Inc. Credit Agreement) 
  
 [Date] 
  
 Bayerische Hypo- Und Vereinsbank AG, 
 New York Branch, 
 as Administrative Agent for the Lenders 
 150 East 42nd Street 
 New York, NY 10017 
 Attention: Julia Posada 
 Fax: (212) 672-6102 
  

	Re:	 	TECO Energy, Inc.: Notice of Conversion of Loan Type 

  
 Reference is hereby made to the Credit Agreement dated as of June 24, 2003 (as amended from time to time, the “Credit Agreement”), among
TECO Energy, Inc., a Florida corporation (“Borrower”), the financial institutions named therein (the “Lenders”), and Bayerische Hypo- Und Vereinsbank AG, New York Branch, as Administrative Agent for the Lenders
(“Administrative Agent”). All capitalized terms used herein shall have the respective meanings specified in Exhibit A to the Credit Agreement unless otherwise defined herein. 
  
 Pursuant to Section 2.3 of the Credit Agreement, Borrower hereby requests
conversion of the Loan as set forth below [include only those which are applicable]: 
  

	 	1.	 	The Base Rate Loans are to be converted to LIBOR Loans. 

  

	 	2.	 	The LIBOR Loans are to be converted to Base Rate Loans. 

  
 The effective date of the conversion shall be             ,
            , which is a Banking Day and which shall be the first day after the last day of an Interest Period if converting from LIBOR Loans. 

 IN WITNESS WHEREOF, Borrower has executed this Notice of Conversion of Loan Type on the date set forth
above. 
  

	 TECO ENERGY, INC.

		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

  
 The undersigned acknowledges
receipt of a copy of 
 this Notice of Conversion of Loan Type: 
  
 BAYERISCHE HYPO- UND VEREINSBANK AG, 
 NEW YORK BRANCH, 
 as Administrative Agent for the Lenders 
  

	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

		
	 Date:
	 	 

 EXHIBIT C-3 
 to Credit Agreement 
  
 FORM OF
CONFIRMATION OF INTEREST PERIOD SELECTION 
 (Delivered pursuant to Section 2.2.4(b) of the 
 TECO Energy, Inc. Credit Agreement) 
  
 [Date] 
  
 Bayerische Hypo- Und Vereinsbank AG, 
 New York Branch, 
 as Administrative Agent for the Lenders 
 150 East 42nd Street 
 New York, NY 10017 
 Attention: Julia Posada 
 Fax: (212) 672-6102 
  

	 	Re:	 	TECO Energy, Inc. Credit Agreement: Confirmation of Interest Period Selection 

  
 This Confirmation of Interest Period Selection is delivered to you pursuant to Section 2.2.4(b) of the Credit Agreement
dated as of June 24, 2003 (“Credit Agreement”), among TECO Energy, Inc., a Florida corporation (“Borrower”), the financial institutions named therein (the “Lenders”) and Bayerische Hypo- Und
Vereinsbank AG, New York Branch, as Administrative Agent for the Lenders (“Administrative Agent”). All capitalized terms used herein shall have the respective meanings specified in Exhibit A to the Credit Agreement unless otherwise
defined herein or unless the context requires otherwise. 
  
 This
Confirmation of Interest Period Selection relates to $                    of the LIBOR Loans with an Interest Period ending on
                . This Confirmation of Interest Period Selection constitutes a confirmation that effective
                     (which shall be the last day of an Interest Period), the requested Interest Period for
                     of such LIBOR Loans shall be      month(s). 
  
 This notice shall be effective only if delivered to Administrative Agent as a
Confirmation of Interest Period Selection made pursuant to Section 2.2.4(b) of the Credit Agreement. 
  
 The undersigned confirms and certifies to each Lender that as of the date of this Confirmation of Interest Period Selection, no Event of Default or
Inchoate Default exists under the Credit Agreement. 

 IN WITNESS WHEREOF, Borrower has executed this Confirmation of Interest Period Selection on the date set
forth above. 
  

	 TECO ENERGY, INC.

		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

  
 The undersigned acknowledges receipt of a copy of 
 this Notice of Conversion of Loan Type: 
  
 BAYERISCHE HYPO- UND VEREINSBANK AG, 
 NEW YORK BRANCH, 
 as Administrative Agent for the Lenders 
  

	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

		
	 Date:
	 	 

 EXHIBIT D 
 to Credit Agreement 
  
 BORROWER’S CLOSING CERTIFICATE 
  
 Pursuant to Section 3.1.11 of the Credit Agreement (as defined below), the undersigned hereby certifies on this 24th day of June, 2003 to BAYERISCHE HYPO- UND VEREINSBANK AG, NEW YORK BRANCH, as administrative agent (“Administrative
Agent”) for the Lenders under the Credit Agreement, dated as of June 24, 2003 (as amended from time to time, the “Credit Agreement”) among TECO Energy, Inc., a Florida corporation (“Borrower”), the
financial institutions named therein (the “Lenders”) and Administrative Agent, that: 
  
 1. Each representation and warranty made in Article IV of the Credit Agreement is true and correct as of the Closing Date. 
  
 2. There exists no Event of Default or Inchoate Default as of the Closing
Date. 
  
 3. The conditions precedent set forth in Section 3.1 of
the Credit Agreement have been satisfied or have been waived in writing by Administrative Agent with, as applicable, the consent of the Lenders. 
  
 All capitalized terms used herein which are defined in the Credit Agreement shall have the meaning given to them in Exhibit A to the Credit Agreement.

  
 IN WITNESS WHEREOF, Borrower has executed this Certificate on
the date set forth above. 
  

	 TECO ENERGY, INC.

		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:<PAGE>

                                                                    EXHIBIT 10.1

                         FIFTH AMENDMENT AND RESTATEMENT

          FIFTH AMENDMENT AND RESTATEMENT (this "Fifth Amendment and
Restatement"), dated as of May 29, 2003, among WYNDHAM INTERNATIONAL, INC., a
Delaware corporation (the "Borrower"), the Lenders from time to time party to
the Credit Agreement referred to below (the "Lenders"), J.P. MORGAN SECURITIES
INC. ("JP Morgan"), as Lead Arranger and Book Manager, BANK OF AMERICA, N.A. and
DEUTSCHE BANK TRUST COMPANY AMERICAS as Syndication Agents (each a "Syndication
Agent", together the "Syndication Agents"), CREDIT LYONNAIS NEW YORK BRANCH, as
Documentation Agent, BEAR STEARNS CORPORATE LENDING INC., as Co-Documentation
Agent (each a "Documentation Agent", and together the "Documentation Agents")
and JPMORGAN CHASE BANK, as Administrative Agent (the "Administrative Agent").
All capitalized terms used herein and not otherwise defined shall have the
respective meanings provided such terms in the Credit Agreement referred to
below immediately prior to the Fifth Amendment and Restatement Effective Date
referred to below.

                              W I T N E S S E T H:
                              - - - - - - - - - -

          WHEREAS, the Borrower, the Lenders, JP Morgan, the Syndication Agents,
the Documentation Agents and the Administrative Agent are parties to a Credit
Agreement, dated as of June 30, 1999 (as amended, modified or supplemented to,
but not including, the date hereof, the "Credit Agreement");

          WHEREAS, the parties hereto wish to effect the agreements and
amendments herein provided; and

          WHEREAS, subject to the terms and conditions of this Fifth Amendment,
the parties hereto agree as follows:

I.   Purpose

          This Fifth Amendment and Restatement and the Fourth Amendment and
Restatement of the Increasing Rate Note Purchase and Loan Agreement dated as of
the date hereof (the "Fourth IRL Amendment") (i) provide for certain amendments
to and waivers under the Credit Agreement and the Increasing Rate Term Loan
Facility to become effective on the Fifth Amendment and Restatement Effective
Date, (ii) provide for the extension of the maturity of the Revolving
Commitments held by Lenders consenting thereto and of the Increasing Rate Term
Loans held by the Lenders consenting thereto, in each case as of the Extension
Date (as defined in Section III.1(A) of this Fifth Amendment and Restatement),
and (iii) provide for additional amendments to the Credit Agreement and
Increasing Rate Term Loan Facility to become effective as of the Extension Date.

II.  Agreements

          1. The Lenders hereby authorize the Collateral Agent to enter into
(and to the extent related to Mortgages record if appropriate) amendments,
waivers, consents or other

<PAGE>

modifications to the Guaranty and Collateral Agreement and the Mortgages in form
and substance satisfactory to the Collateral Agent that would (i) create Liens
on the escrow accounts created to hold proceeds of Designated Indebtedness and
Designated Excluded Properties Sales and (ii) effective on the Extension Date,
remove clause (y) of the first sentence of Section 4.2 thereof (i.e., the
requirement for the consent of the Required IRL Lenders (as defined therein) for
amendments, waivers, modifications and/or variations to the Guaranty and
Collateral Agreement) and remove the reference to "and the Required IRL Lenders"
in clause (A) of the proviso following such clause (y).

          2.  The Lenders hereby consent to (x) the amendments and agreements
contained in the Fourth IRL Amendment and (y) to the conversion, as of the
Extension Date, of certain Increasing Rate Term Loans to Term Loans II as
provided therein and herein.

          3.  Notwithstanding any other provision of the Credit Agreement or
this Fifth Amendment and Restatement, no amendment, change or waiver after the
Fifth Amendment and Restatement Effective Date of (I) (x) the definition of
"Extension Date" (other than as set forth in clause (II) of this Section II.3),
(y) Section 2.09(d) and/or (z) if prior to the Modified Extension Date, Section
2.11(f) may be made without the consent of Consenting Revolving Lenders holding
at least 66-2/3% of the Designated Revolving Commitments at the time of such
amendment, change or waiver (with Modified Extension Date, Consenting Revolving
Lenders and Designated Revolving Commitments having the definitions in effect on
the Fifth Amendment and Restatement Effective Date) and (II) (w) clauses (i) and
(ii) of the proviso of the definition of "Extension Date", (x) the definitions
of "Designated Property", "EP Escrow", "Excluded Property", "Specified Escrow
Amount", "Specified Purposes" or "Utilized", (y) the definitions of "Designated
Excluded Properties Sales" and "Wrap Refinancing", Section 2.08, Section 2.09,
Section 2.11 or Section 6.03(q) of the Credit Agreement and Section III.2.A and
IV.1.A of this Fifth Amendment and Restatement, in each case to change or modify
the references therein to "Excluded Property" or "Excluded Properties" or the
use of the proceeds of Excluded Properties and/or (z) Section III.3 of this
Fifth Amendment and Restatement may be made without the consent of each Lender
at the time constituting a Consenting Revolving Lender, provided that the
foregoing clauses (II)(x), (II)(y) and (II)(z) shall cease to be effective on
the Modified Extension Date if the Extension Date has not occurred.

          4.  It is agreed that no Designated Excluded Property Sale will be
effected, and no Designated Indebtedness will be incurred, at any time when an
Event of Default under Section 7.01 and/or 7.05 exists, provided that this
Section II.4 shall cease to be effective on the Modified Extension Date if the
Extension Date has not occurred.

III. Amendments as at Fifth Amendment and Restatement Effective Date

          1.  As of the Fifth Amendment and Restatement Effective Date, the
following amendments to the Credit Agreement shall become effective:

          (A) Section 1.01 is amended by (i) inserting the following new
definitions in appropriate alphabetical order:

                                      -2-

<PAGE>

          "Advisor" means a Person selected by the Administrative Agent prior to
the Fifth Amendment and Restatement Effective Date to make appraisals with
respect to Specified Asset Dispositions.

          "Apollo/THL Affiliate" means (i) Apollo Management, L.P., (ii) Thomas
H. Lee Partners, L.P. and (iii) any Person that, directly or indirectly, is in
control of, is controlled by, or is under common control with either of the
Persons identified in clauses (i) and/or (ii).

          "Approved Value" means with respect to each Specified Asset
Disposition an amount equal to at least 90% of the value of the property that is
the subject of such Specified Asset Disposition as established by an appraisal
(based on a scope of work provided by the Administrative Agent) of such property
completed by the Advisor no earlier than 120 days prior to the consummation of
such Specified Asset Disposition.

          "Consenting IRL Lenders" means (i) each IRL Lender that has consented
to the Fourth IRL Amendment prior to the Cut-Off Time as provided for in Section
III.5(i) of the Fourth IRL Amendment and (ii) any Person that has acquired after
the Fifth Amendment and Restatement Effective Date the Increasing Rate Term
Loans of any IRL Lender not so consenting, to the extent each Person has
executed and delivered to the Administrative Agent a counterpart of the Fourth
IRL Amendment.

          "Consenting Revolving Lenders" means (i) each Lender with a Revolving
Commitment that has consented to the Fifth Amendment and Restatement prior to
the Cut-Off Time and (ii) any Person that has acquired after the Fifth Amendment
and Restatement Effective Date and prior to the Extension Date the Revolving
Commitment and Revolving Loans of any Lender not so consenting, to the extent
such Person has executed and delivered to the Administrative Agent a counterpart
of this Fifth Amendment and Restatement, it being agreed that within 10 Business
Days after the Fifth Amendment and Restatement Effective Date the Administrative
Agent will deliver to all Lenders and all IRL Lenders a Schedule setting forth
the names of all Persons included under clause (i) above and under clause (i) of
the definition of Consenting IRL Lenders.

          "Cut-Off Time" has the meaning provided in the Fifth Amendment and
Restatement.

          "Designated Disposition" means a Disposition where (i) an MAI
appraisal of the assets being disposed of has been effected by a firm selected
by the Administrative Agent and (ii) the sales price is at least equal to 100%
of the value of such assets as determined by such MAI appraisal.

          "Designated IRL Loans" means and includes at any time the Increasing
Rate Term Loans held by each Consenting IRL Lender at such time.

          "Designated Non-Recourse Indebtedness" means Non-Recourse Indebtedness
of a Special Purpose Subsidiary where, upon the occurrence of any event that
would create an Event of Default under Section 7.05 and/or 7.07, none of such
Indebtedness of such Special Purpose Subsidiary becomes the Indebtedness of the
Borrower or any other Subsidiary Guarantor.

                                      -3-

<PAGE>

          "Designated Revolving Commitments" means and includes at any time the
Revolving Commitment of each Consenting Revolving Lender at such time.

          "Extension Date" means the first date by which the aggregate repayment
of Designated IRL Loans made after the Fifth Amendment and Restatement Effective
Date equals $85 million, provided that there shall be no Extension Date if (i)
any Excluded Property, any proceeds of any Designated Indebtedness and/or any
Designated Excluded Properties Sale or any other cash of the Borrower or any
Subsidiary are added to the properties in Lehman Pool I, (ii) all the
Indebtedness issued pursuant to the Lehman Pool I has not been repaid in full or
the maturity of all such Indebtedness has not been extended (on a stand alone
basis or combined with other Indebtedness) to a date later than June 30, 2006
and/or (iii) the Extension Date has not occurred on or prior to the date which
is nine months after the Fifth Amendment and Restatement Effective Date.

          "Fifth Amendment and Restatement" means the Fifth Amendment and
Restatement to this Agreement dated as of May 29, 2003.

          "Fifth Amendment and Restatement Effective Date" has the meaning
provided in the Fifth Amendment and Restatement.

          "Fourth IRL Amendment" has the meaning provided in the Fifth Amendment
and Restatement.

          "IRL Lender" means each Lender under and as defined in the Increasing
Rate Note Purchase and Loan Agreement dated as of June 30, 1999 as amended
(including by the Fourth IRL Amendment).

          "IRL Percentage" means at any time a percentage equal to 100% minus
the TL Percentage at such time.

          "Lehman Pool I" means the Mortgage Loan dated June 28, 1999, from
Lehman Brothers Holdings, Inc., as assigned to LaSalle Bank National
Association, as trustee of the SASCO Floating Rate Commercial Mortgage Trust
1999-C3, Multiclass Pass-Through Certificates, Series 1999-C3, as assigned to
Lehman Brothers Holdings, Inc., to various subsidiaries of Wyndham
International, Inc., in the original principal amount of $235,000,000.

          "Leverage Ratio" means on any date the ratio of (i) Total Indebtedness
on such date to (ii) Total Adjusted EBITDA for the 12 months ended on such date.

          "Modified Extension Date" means the Extension Date or if the extension
date has not occurred on or prior to the date which is the nine month
anniversary of the Fifth Amendment and Restatement Effective Date, then such
nine month anniversary date shall constitute the Modified Extension Date.

          "Pro Forma Leverage Ratio" means with respect to any Asset Disposition
the Leverage Ratio as at the last day of the last month ended prior to such
Asset Disposition modified to subtract (x) from the Total Indebtedness included
in determining such Ratio the gross proceeds received by the Borrower and its
Subsidiaries from such Asset Disposition and

                                      -4-

<PAGE>

(y) from the Total Adjusted EBITDA included in determining such Ratio the
Property EBITDA for the 12 months then ended of the property the subject of such
Asset Disposition.

          "Properties Sale List" shall mean a list of properties which the
Borrower is actively considering selling, specifying an aggregate proposed sale
price for all the properties within designated categories and detail for each
property as to what amounts would have to be deducted when determining the Net
Cash Proceeds resulting from a sale thereof under clauses (a)(ii) and (a)(iv) of
the definition of Net Cash Proceeds.

          "Property EBITDA" means for any period for any property the subject of
an Asset Disposition the amount that would have been EBITDA for such period for
such property if (i) such property were to constitute a "Person", (ii) clause
(b) of the definition of EBITDA were limited to business interruption insurance
proceeds and condemnation proceeds paid only in respect of such property and
(iii) clause (d) of the definition of EBITDA were deleted, provided that such
amount shall not exceed the amount included for such property in Total Adjusted
EBITDA.

          "Specified Asset Disposition" means any Asset Disposition other than
an Asset Disposition (i) if the Pro Forma Leverage Ratio determined after giving
effect to such Asset Disposition is less than the Leverage Ratio determined as
of the last day of the last month then ended, (ii) if the Property EBITDA of the
property the subject thereof for the 12 months ended as of the last day of the
last month then ended is less than $1.5 million, provided that the aggregate
gross sale proceeds of Asset Dispositions effected prior to the Extension Date
and excluded from constituting Specified Asset Dispositions pursuant to this
clause (ii) shall not exceed $150 million or (iii) consummated on or after the
Fifth Amendment and Restatement Effective Date and prior to the Extension Date
if the repayment of IRL Loans from the proceeds of such Asset Disposition are
excluded in determining whether the Extension Date has occurred (i.e., whether
$85 million of IRL Loans have been repaid during such period).

          "TL Percentage" means at any time the percentage obtained by dividing
(i) the outstanding principal amount of Term Loans at such time by (ii) the sum
of (x) the outstanding principal amount of Term Loans at such time, (y) the
outstanding principal amount of Designated IRL Loans at such time and (z) the
aggregate Designated Revolving Commitments at such time.

; and (ii) changing the definition of "Maximum Permitted Expenditure Amount" to
read (provided that if the Extension Date has not occurred by the Modified
Extension Date the amendment provided for in this clause (ii) shall terminate on
the Modified Extension Date):

          "Maximum Permitted Expenditures Amount" means, for (I) the fiscal year
of the Borrower ending on December 31, 2003, $125,000,000, (II) the fiscal year
of the Borrower ending on December 31, 2004, (i) $125,000,000 plus (ii) 50% of
the portion of the Maximum Permitted Expenditures Amount for the immediately
preceding fiscal year not utilized to make Permitted Expenditures and (III) each
of the fiscal years of the Borrower ending on or after December 31, 2005, (i)
$125,000,000 plus (ii) 25% of the portion of the Maximum Permitted Expenditures
Amount for the immediately preceding fiscal year not utilized to make Permitted
Expenditures.

                                      -5-

<PAGE>

          (B)  Section 2.02(a) is amended for the period commencing on the Fifth
Amendment and Restatement Effective Date and ending on the Modified Extension
Date by (x) adding after the reference therein to "Revolving Commitments" the
phrase "as in effect on the Fifth Amendment and Restatement Effective Date" and
(y) adding a new sentence at the end thereof to read: "On the Modified Extension
Date if the Extension Date has not occurred, the Borrower shall incur and repay
Revolving Loans so that after giving effect thereto the outstanding Revolving
Loans shall be made by all Revolving Lenders ratably in accordance with their
respective Revolving Commitments in effect on such date."

          (C)  Section 2.09 is amended by adding at the end thereof the
following new paragraph (d):

          "(d) On each date on and after the Fifth Amendment and Restatement
     Effective Date and on or prior to the Modified Extension Date on which
     Designated IRL Loans are repaid (mandatorily or voluntarily) the Designated
     Revolving Commitments shall be automatically and permanently reduced in an
     aggregate amount equal to the amount of such repayment of Designated IRL
     Loans, such reduction to apply pro rata among the Designated Revolving
     Commitments."

          (D) Section 2.11 is amended for the period commencing on the Fifth
Amendment and Restatement Effective Date and ending on the Modified Extension
Date by (i) changing all of paragraph (f) thereof beginning with the reference
to "(C)" to read:

     "(C) third, to repay outstanding Term Loans in an aggregate amount equal to
     the TL Percentage of such Net Cash Proceeds and to repay outstanding
     Designated IRL Loans in an aggregate amount equal to the IRL Percentage of
     such Net Cash Proceeds."

and (ii) adding a new paragraph (i) to read:

          "(i) If the application of only a portion of the Net Cash Proceeds
     required to be applied pursuant to Section 2.11(c), (d) or (e) would result
     in the Extension Date occurring, then only such portion will be applied on
     the date specified therefor in any such Section, with the remainder of such
     Net Cash Proceeds to be applied pursuant to Section 2.11(f) on the next
     succeeding Business Day."

          (E)  Section 3.16(a) is amended by adding a new sentence at the end
thereof to read:

     "Prior to the Modified Extension Date, up to $10 million of proceeds of
     Revolving Loans may be utilized to prepay principal on outstanding
     Designated IRL Loans."

          2.   As of the Fifth Amendment and Restatement Effective Date, the
following additional amendments to the Credit Agreement shall become effective:

          (A)  Section 1.01 of the Credit Agreement is amended by (i) adding at
the end of the definition of "Consent Property" the phrase ", it being
understood that upon the financing of any such Real Property as permitted by
Section 6.02(m) such Real Property shall cease to constitute a Consent
Property"; (ii) in each of the definitions of "Designated Indebtedness" and

                                       -6-

<PAGE>

"Designated Excluded Properties Sale" (x) adding after the reference therein to
", provided that" the phrase "(i) at the written election of the Borrower any or
all of the amounts so deposited shall be released to be applied to repay Loans
pursuant to, and as repayments under, Section 2.11(f) and (ii)" and (y) changing
the phrase "at a time when the Obligations have become due and payable shall" to
read "on December 31, 2005" and (z) adding at the end thereof the phrase ", it
being understood that the Collateral Agent shall have a perfected first priority
security interest in such escrow account and in all amounts deposited therein";
(iii) in the definition of "Designated Percentage" (x) inserting after the
reference to "less the lower of" the phrase "(A) the lower of" and (y) adding at
the end of such definition the phrase "and (B) a percentage (which may be zero)
selected at the time by the Borrower (by written notice to the Administrative
Agent)"; and (iv) changing the definitions of "Non-Excluded Subsidiaries",
"Specified Purposes" and "Wrap Refinancing" to read:

          "Non-Excluded Subsidiaries" means each Subsidiary of the Borrower
provided that a Special Purpose Subsidiary (I) with Indebtedness of less than
$25.0 million and (II) not included in clause (I) but with no Indebtedness other
than Designated Non-Recourse Indebtedness shall each not constitute a
Non-Excluded Subsidiary, provided that any Special Purpose Subsidiary otherwise
excluded from constituting a Non-Excluded Subsidiary pursuant to the foregoing
will constitute a Non-Excluded Subsidiary (x) for purposes of Section 7.05 if
the commencement (or authorization) of proceedings of the type referred to in
such Section by or against such Special Purpose Subsidiary is individually, or
in the aggregate with the commencement of such proceedings by or against other
Special Purpose Subsidiaries, reasonably likely to have a Material Adverse
Effect or (y) for purposes of Section 7.07 if the entering of judgments of the
type referred to in such Section is individually, or in the aggregate with the
entering of such judgments against other Special Purpose Subsidiaries,
reasonably likely to have a Material Adverse Effect.

          "Specified Purposes" means (i) to avoid or to cure defaults, events of
defaults and/or covenant violations under Existing Mortgage Debt, (ii) make
payments on Existing Mortgage Debt, (iii) refinance all or any part of any
Existing Mortgage Debt, and/or (iv) extend maturities of and/or other payments
on, or other obligations under, Existing Mortgage Debt, provided that curing a
shortfall in any loan to value ratio in a collateralized mortgage obligations or
other similar collateralized debt structure (each a "Structural Issue")
resulting from the sale of any property or properties securing or supporting
such Structural Issue shall not constitute a Specified Purpose.

          "Wrap Refinancing" means a financing that refinances two or more
issues of Existing Mortgage Debt, which financing is secured by, and only by,
(x) the properties that secured the issues of Existing Mortgage Debt being
refinanced (other than any property listed on Schedule II to the Third Amendment
and Restatement provided that the Condado Plaza property and/or Bourbon Orleans
property may be included if the inclusion thereof will result in the respective
Wrap Refinancing generating Net Cash Proceeds to be used to repay Loans (and
prior to the Extension Date, Designated IRL Loans) pursuant to Section 2.11 that
are at least (x) $40 million in the case of the Condado Plaza property and/or
(y) $4 million in the case of the Bourbon Orleans property greater than the Net
Cash Proceeds that would be generated for such purposes if the Wrap Refinancing
did not include such property) and (y) Excluded Properties to the extent
permitted by Section 6.03(q).

                                       -7-

<PAGE>

          (B)  Section 2.08(e) is amended by changing the phrase "Loans made by
it" in the first sentence thereof to read "all Loans made by it under a Facility
(for up to all Facilities under which it has Loans outstanding)".

          (C)  Section 3.19 is amended by (I) changing the "No" at the beginning
of said Section to read "To the knowledge of the Borrower, no", (II) adding the
text "which statement or omission, if corrected, would contain any fact that
would reasonably be expected to have a Material Adverse Effect" immediately
preceding the period at the end of the first sentence of said Section and (III)
changing the word "The" at the beginning of the second sentence of said Section
to read "To the knowledge of the Borrower, the".

          (D)  Section 4.02 is amended by (x) adding after the reference to
"3.06" the phrase ", 3.09, 3.10, 3.13, 3.14," and (y) changing the reference to
"and 3.16" to read ", 3.16 and 3.19".

          (E)  Section 5.02 is amended by (i) changing the reference in the
lead-in clause to "(j) and (k)" to read "(j) and (n)", (ii) deleting the "and"
at the end of clause (j), (iii) renumbering clause (k) as clause (n) and (iv)
inserting new clauses (k), (l) and (m) to read:

          "(k) within 30 days following (x) the Fifth Amendment and Restatement
Effective Date, a copy of the initial Properties Sale List and (y) each
anniversary of the Fifth Amendment and Restatement Effective Date, a copy of the
Properties Sale List updated as of such anniversary;

          (l)  copies of the information required by Exhibit A to the Fifth
Amendment and Restatement on the basis, at the times and in the detail set forth
on Exhibit A;

          (m)  promptly after the Borrower's Board of Directors has approved
same, a copy of each annual budget, which shall include property by property
information; and"

          (F)  Section 5.10(a) is amended by changing the reference to "May 1,
2003" occurring in clause (iii)(z) thereof and in clause (II) thereof to read
"30 days after the Fifth Amendment and Restatement Effective Date (or if earlier
the Extension Date)".

          (G)  Section 6.03 is amended by (i) inserting in clause (r) thereof
prior to the phrase "to secure" the phrase "and/or (z) any other Real Property
(including Consent Properties)" and (ii) changing the second reference in said
clause (r) to "Excluded Properties" to read "any Real Property".

          (H)  Section 6.04 is amended by adding after the reference to "except"
in the lead-in phrase "for transactions permitted by Section 6.05 and except".

          (I)  Section 6.05(d) is amended in its entirety to read:

          "(d) Asset Dispositions (including pursuant to Buy/Sell Arrangements)
which in each case shall be for an amount equal to at least the fair market
value thereof (as determined by the senior management of the Borrower and
certified in writing to the Administrative Agent, which certification shall also
confirm that, after giving effect to such Asset Disposition, the

                                       -8-

<PAGE>

Borrower shall remain in pro forma compliance with all of its covenants herein)
for at least 75% Cash Consideration (other than in connection with a Timeshare
Development Transaction, the Disposition of which shall not be subject to such
limitation); provided that (i) within five Business Days following the date of
consummation of any such Asset Disposition, the Borrower shall deliver a Net
Cash Proceeds Notice and any Net Cash Proceeds thereof shall be applied as
required under Section 2.11(f), (ii) such Asset Disposition may be for less than
75% Cash Consideration if it constitutes a Permitted Structured Disposition,
(iii) if such Asset Disposition is a Non-Core Assets Sale, such Asset
Disposition may be for less than 75% Cash Consideration but shall be for at
least 70% Modified Cash Consideration and (iv) if a Specified Asset Disposition,
the total consideration received by the Borrower or such Subsidiary constitutes
Approved Value";

          (J)  Section 6.09 is amended by adding after the end of such Section
the following sentence:

     "In addition to the foregoing, without the consent of the Required Lenders,
     neither the Borrower nor any Subsidiary shall enter into any transaction in
     respect of the Disposition of any asset with any Apollo/THL Affiliate
     involving an amount in cash and/or the fair value of assets in excess of
     $500,000 other than a Designated Disposition."

          (K)  Exhibit B is amended by (x) deleting the reference to "(III)," in
paragraphs 2 and 8 thereof, (y) inserting after the reference to "VI" in such
paragraphs the phrase ", and Sections 3.02, 3.03, 3.04, 3.05, 3.06 and 3.16,"
and (z) deleting in paragraph 8 thereof the phrase "and in each of the other
Loan Documents".

          3.   On the Fifth Amendment and Restatement Effective Date, each of
the Riverfront New Orleans property ("RNO") and the Wyndham Newark property
("WN") shall cease to constitute an Excluded Property and the Borrower shall (x)
prior to the Fifth Amendment and Restatement Effective Date subject RNO, WN and
the LaGuardia Wyndham property (the "Properties") to a recorded mortgage in form
and substance satisfactory to the Administrative Agent and (y) take within 60
days following the Fifth Amendment and Restatement Effective Date all other
actions with respect to each of the Properties that it would be required under
Section 5.10(a) to take if each such property were an Excluded Property,
provided that if the Extension Date has not occurred by the Modified Extension
Date then, on the Modified Extension Date, RNO and WN will each constitute an
Excluded Property to the extent it would have been an Excluded Property on such
date in the absence of this Section III.3 (it being understood that at no time
shall the LaGuardia Wyndham constitute an Excluded Property).

IV.  Amendments as at Post-Extension Date

          1.   As of 00:01A.M. (New York time) on the date immediately following
the Extension Date, the following amendments to the Credit Agreement shall
become effective:

          (A)  Section 1.01 of the Credit Agreement is amended by (i) in each of
the definitions of "Designated Excluded Properties Sale" and "Designated
Indebtedness" (x) adding "(a)" after the reference therein to "(i)" and (y)
changing the reference to "shall be released" to

                                       -9-

<PAGE>

read "and (b) at the time (if any) they become Specified Escrow Amounts all
amounts (if any) in such escrow account shall, in each case, be released"; (ii)
changing clause (a)(v) of the definition of "Net Cash Proceeds" in its entirety
to read "(v) the Liquidity Holdback for such Asset Disposition or Exchange";
(iii) changing the reference to "Section 2.11(e)" in the definition of
"Scheduled Repayment" to "Section 2.11(h)"; (iv) deleting the definition of
"Term Loan Maturity Date"; (v) changing the definitions of "Applicable Margin",
"Class", "Designated Percentage", "Excluded Properties", "Facilities", "Maturity
Date", "Revolving Commitment", "Revolving Percentage", "Swingline Expiry Date"
and "Total Cash Interest Expense" in their entirety to read:

          "Applicable Margin" means (i) (A) with respect to ABR Term Loans II
and ABR Revolving Loans IV, 4.75%, (B) with respect to ABR Term Loans I and ABR
Revolving Loans III, 3.75% and (C) with respect to all other ABR Revolving
Loans, 2.75%, (ii) (A) with respect to Eurodollar Term Loans II and Eurodollar
Revolving Loans IV, 5.75%, (B) with respect to Eurodollar Term Loans I and
Eurodollar Revolving Loans III, 4.75% and (C) with respect to all other
Eurodollar Revolving Loans, 3.75%, and (iii) with respect to Commitment Fees,
..50%.

          "Class", when used in reference to any Loan or Borrowing, refers to
whether such Loan, or the Loans comprising such Borrowing, are Term Loans I,
Term Loans II, Revolving Loans I, Revolving Loans II, Revolving Loans III,
Revolving Loans IV or Swingline Loans.

          "Designated Percentage" means 100% less the lower of (A) the lowest of
(i) 25%, (ii) the maximum percentage that will result in the amount of Net Cash
Proceeds from an issuance of Indebtedness, an Asset Disposition and/or Exchange
that the Borrower may retain under Sections 2.11(c) and/or (e) (i.e. that is not
required to be applied to repay Indebtedness pursuant to Section 2.11(f)) not
exceeding in the aggregate for all issuances of Indebtedness, Asset Dispositions
and Exchanges effected (x) in the twelve months following the Second Amendment
and Restatement Effective Date, $50 million or (y) in any subsequent consecutive
12-month period, $35 million (but limited to $15 million during the period from
the fourth anniversary of the Second Amendment and Restatement Effective Date to
the Term Loan Maturity Date) and (iii) the maximum percentage that will result
in the amount of Net Cash Proceeds from such issuance of Indebtedness, Asset
Disposition or Exchange that the Borrower may so retain not exceeding an amount
equal to $100,000,000 less the Borrower Liquidity Amount in effect immediately
prior to receipt of the Net Cash Proceeds of such incurrence of Indebtedness,
Asset Disposition or Exchange, provided that for any issuance of Indebtedness,
Asset Disposition and/or Exchange effected after the Extension Date and on or
prior to Revolving Loan Maturity Date I/II, the Designated Percentage shall be
reduced to the extent necessary to result in the Borrower retaining additional
aggregate Net Cash Proceeds in an amount up to the AR Amount (the "Additional
Retention") provided that at the time of any reduction of the Designated
Percentage pursuant to this proviso the Borrower has provided to the
Administrative Agent a written certificate of a senior officer certifying that
the additional Net Cash Proceeds being retained are required to insure that the
Borrower maintains adequate liquidity to satisfy its expected cash needs and
that after giving effect to the Additional Retention, the aggregate unutilized
Revolving Commitments III (pro forma as at the Revolving Loan Maturity Date I/II
and after any repayment of Revolving Loans III with the Additional Retention)
will be at least $50,000,000, with the Borrower covenanting in such certificate
to retain such additional Net Cash Proceeds not utilized to repay Revolving
Loans III until such

                                      -10-

<PAGE>

Revolving Loan Maturity Date I/II (with a default of the Borrower in complying
with such covenant to constitute a default under Section 7.03(b)) and (B) a
percentage (which may be zero) selected at the time by the Borrower (by written
notice to the Administrative Agent).

          "Excluded Properties" means the Real Properties set forth on Schedule
XV to this Agreement other than the Riverfront New Orleans and Wyndham Newark
properties plus any additional Real Property received by the Borrower or a
Subsidiary as a result of an Exchange of an Excluded Property; provided that one
Designated Property (if any exist) shall cease to constitute an Excluded
Property on December 31, 2004 and the remaining Designated Properties (if any)
shall cease to constitute Excluded Property on December 31, 2005, it being
understood that (x) upon being Disposed of a property shall cease to constitute
an Excluded Property and (y) upon the financing of any property at the time
constituting an Excluded Property as permitted by Section 6.02(m) such property
shall cease to constitute an Excluded Property.

          "Facility" means one of the credit facilities established under this
Agreement, i.e., Term Loan Facility I, Term Loan Facility II, Revolving Loan
Facility I, Revolving Loan Facility II, Revolving Loan Facility III and
Revolving Loan Facility IV.

          "Maturity Date" means (i) with respect to Revolving Loans I and
Revolving Loans II, the Revolving Loan Maturity Date I/II, (ii) with respect to
Revolving Loans III and Revolving Loans IV, the Revolving Loan Maturity Date
III/IV, (iii) with respect to Term Loans I, June 30, 2006 and (iv) with respect
to Term Loans II, April 1, 2006.

          "Revolving Commitment" means, with respect to any Lender, the
obligation (if any) of such Lender to make Revolving Loans and/or to participate
in Swingline Loans and Letters of Credit in an aggregate principal and/or face
amount not to exceed (w) in the case of a Revolving Lender I, its Revolving
Commitment I, (x) in the case of a Revolving Lender II, its Revolving Commitment
II, (y) in the case of a Revolving Lender III, its Revolving Commitment III and
(z) in the case of a Revolving Lender IV, its Revolving Commitment IV, it being
understood that neither a Revolving Lender I nor a Revolving Lender IV shall
have any obligation to participate in Swingline Loans and/or Letters of Credit.

          "Revolving Percentage" means, as to any Lender with a Revolving
Commitment II or Revolving Commitment III at any time, the percentage which such
Lender's Revolving Commitment II or Revolving Commitment III, as the case may
be, then constitutes of the Adjusted Total Revolving Commitment (or at any time
when such Lender's Revolving Commitment shall have expired or terminated, the
percentage which the aggregate principal amount of such Lender's Revolving Loans
then outstanding constitutes of (i) the aggregate principal amount of Revolving
Loans made pursuant to all expired or terminated Revolving Commitments plus (ii)
all Revolving Commitments then in effect, it being understood that the Revolving
Percentage of a Revolving Lender I and of a Revolving Lender IV shall be zero).

          "Swingline Expiry Date" means the date which is two Business Days
prior to the Revolving Loan Maturity Date III/IV.

          "Total Cash Interest Expense" means the sum of the total cash interest
expense in respect of Total Indebtedness for such period determined in
conformity with GAAP (excluding

                                      -11-

<PAGE>

interest capitalized in accordance with GAAP, amortization of deferred financing
costs, Incremental Cash Interest and other non-cash charges and expenses) minus
cash interest income.

; and (vi) inserting the following new definitions in appropriate alphabetical
order:

          "Adjusted Total Revolving Commitment" means, at any time, the
aggregate amount of the Revolving Commitments II and the Revolving Commitments
III then in effect.

          "Adjusted Total Revolving Extensions of Credit" means, at any time,
the aggregate amount of the Revolving Extensions of Credit of the Revolving
Lenders II and the Revolving Lenders III outstanding at such time.

          "AR Amount" shall mean the lesser of (i) $22.5 million and (ii) the
sum of (x) the aggregate outstanding principal amount of the Increasing Rate
Loans and (y) the aggregate Revolving Commitments I and Revolving Commitments
II, in each case as of the Post-Extension Date.

          "Benchmark Amount" means the higher of (i) $180 million and (ii) an
amount equal to the aggregate outstanding principal amount of Designated
Revolving Loans on the Post-Extension Date.

          "Borrower Liquidity Amount" means at any time the sum of (i) the
Liquidity Amount at such time plus (ii) unrestricted cash on hand in excess of
the average unrestricted cash balance as at the end of each of the last four
quarters as shown on a consolidated balance sheet of the Borrower.

          "Conversion Percentage" means the percentage obtained by dividing the
Benchmark Amount by all Designated Revolving Commitments on the Post-Extension
Date.

          "Designated Property" means at any time, to the extent such property
is then an Excluded Property and has not been Utilized, (i) the Ft. Lauderdale
Hilton property, (ii) if the property specified in clause (i) is not then a
Designated Property, the Parsippany Summerfield property and (iii) if all the
properties specified in clauses (i) and (ii) are not then Designated Properties,
the Westshore Tampa Bay property.

          "Designated Revolving Loans" means Loans made pursuant to the
Designated Revolving Commitments.

          "EP Escrow" means each escrow account which holds any proceeds of a
Designated Excluded Properties Sale and/or an incurrence of Designated
Indebtedness.

          "Excess Proceeds" means with respect to any Net Cash Proceeds required
to be applied to repay Loans pursuant to Section 2.11(f) an amount equal to the
portion of such Net Cash Proceeds required to be applied to repay Revolving
Loans III (after giving effect to Section 2.11(f)(C)(I)(x) and determined as if
the aggregate principal amount of Revolving Loans III equaled the aggregate
Revolving Commitments III) in excess of the aggregate principal amount of
Revolving Loans III then outstanding.

                                      -12-

<PAGE>

          "Incremental Cash Interest" means at any time for any period the
aggregate of the cash interest paid on each Revolving Loan III, Revolving Loan
IV and Term Loan II during such period in excess of the interest that would have
been payable during such period on such Loan at a rate 1.00% less than the rate
applicable to such Loan hereunder.

          "Liquidity Amount" means, at any time, the aggregate Unutilized
Revolving Commitment of all Revolving Lenders III.

          "Liquidity Holdback" means, with respect to any Asset Disposition or
Exchange in any year, an amount equal to the lesser of (x) $20,000,000 (or, if
less, the Net Cash Proceeds of such Asset Disposition or Exchange determined
without giving effect to clause (a)(v) of the definition of Net Cash Proceeds)
less the aggregate Liquidity Holdbacks for all Asset Dispositions and Exchanges
previously effected during such year and (y) once the aggregate Liquidity
Holdbacks for such year equal $10,000,000, an amount equal to $100,000,000 less
the Borrower Liquidity Amount in effect immediately prior to receipt of the Net
Cash Proceeds of such Asset Disposition or Exchange, with the amount of the
Liquidity Holdback applicable to any Asset Disposition or Exchange to be
certified in writing by a senior officer of the Borrower to the Administrative
Agent at the time a portion of the Net Cash Proceeds of such Asset Disposition
or Exchange is required to be applied to the prepayment of Loans under Section
2.11 hereof.

          "Post-Extension Date" means the date immediately following the
Extension Date.

          "Revolving Commitment I" means, with respect to any Lender that is a
Revolving Lender I, a Revolving Commitment in the amount equal to the greater of
(i) the aggregate outstanding principal amount of the Revolving Loans of such
Lender at the opening of business on the Post-Extension Date and (ii) if the
outstanding principal amount of all Designated Revolving Loans at the opening of
business on the Post-Extension Date is less than the Benchmark Amount, an amount
equal to the Conversion Percentage of the Revolving Commitment of such Lender at
the opening of business on the Post-Extension Date or, if applicable, the
Revolving Commitment I assigned to such Lender pursuant to Section 9.04, and in
each case as the same may be reduced pursuant to Sections 2.09, 2.11(f) and/or
7.

          "Revolving Commitment II" means, with respect to any Lender that is a
Revolving Lender II, a Revolving Commitment in the amount equal to the Revolving
Commitment of such Lender at the opening of business on the Post-Extension Date
(after giving effect to any voluntary reduction thereto to be effected on such
date) less the amount of the Revolving Commitment I of such Lender or, if
applicable, the Revolving Commitment II assigned to such Lender pursuant to
Section 9.04, and in each case as the same may be reduced pursuant to Sections
2.09, 2.11(f) and/or 7.

          "Revolving Commitment III" means, with respect to any Lender that is a
Revolving Lender III, a Revolving Commitment in the amount equal to the
Revolving Commitment of such Lender at the opening of business on the
Post-Extension Date (after giving effect to any voluntary reduction thereto to
be effected on such date) less such Lender's RL Percentage of the Benchmark
Amount, or, if applicable, the Revolving Commitment III assigned

                                      -13-

<PAGE>

to such Lender pursuant to Section 9.04, in each case as the same may be reduced
pursuant to Sections 2.09, 2.11(f) and/or 7.

          "Revolving Commitment IV" means, with respect to any Lender that is a
Revolving Lender IV, a Revolving Commitment in the amount equal to such Lender's
RL Percentage of the Benchmark Amount, or, if applicable, the Revolving
Commitment IV assigned to such Lender pursuant to Section 9.04, in each case as
the same may be reduced pursuant to Sections 2.09, 2.11(f) and/or 7.

          "Revolving Lenders I" means (i) those Revolving Lenders in existence
on the Extension Date that are not Consenting Revolving Lenders, with each such
Lender to remain a Revolving Lender I unless it has assigned to another Person
or Persons pursuant to Section 9.04 all of its Revolving Commitment I and
Revolving Loans I and (ii) any Lender which has acquired by assignment pursuant
to Section 9.04 a Revolving Commitment I or any Revolving Loans I.

          "Revolving Lenders II" means (i) those Revolving Lenders in existence
on the Extension Date that are not Consenting Revolving Lenders, with any such
Lender to remain a Revolving Lender II unless it has assigned to another Person
or Persons pursuant to Section 9.04 all of its Revolving Commitment II and
Revolving Loans II and (ii) any Lender which has acquired by assignment pursuant
to Section 9.04 a Revolving Commitment II or any Revolving Loans II.

          "Revolving Lenders III" means (i) those Revolving Lenders in existence
on the Extension Date that are Consenting Revolving Lenders, with each such
Lender to remain a Revolving Lender III unless it has assigned to another Person
or Persons pursuant to Section 9.04 all of its Revolving Commitment III and
Revolving Loans III and (ii) any Lender which has acquired by assignment
pursuant to Section 9.04 a Revolving Commitment III or any Revolving Loans III.

          "Revolving Lenders IV" means (i) those Revolving Lenders in existence
on the Extension Date that are Consenting Revolving Lenders, with each such
Lender to remain a Revolving Lender IV unless it has assigned to another Person
or Persons pursuant to Section 9.04 all of its Revolving Commitment IV and
Revolving Loans IV and (ii) any Lender which has acquired by assignment pursuant
to Section 9.04 a Revolving Commitment IV or any Revolving Loans IV.

          "Revolving Loan I" means (x) each Revolving Loan of a Revolving Lender
I that is outstanding at the opening of business on the Post-Extension Date and
(y) each Revolving Loan, if any, thereafter made through the utilization of
Revolving Commitments I.

          "Revolving Loan II" means each Revolving Loan, if any, made after the
Post-Extension Date through the utilization of Revolving Commitments II.

          "Revolving Loan III" means each Revolving Loan, if any, made after the
Post-Extension Date through the utilization of Revolving Commitments III.

                                      -14-

<PAGE>

          "Revolving Loan IV" means (x) each Revolving Loan of a Revolving
Lender IV outstanding at the opening of business on the Post-Extension Date and
(y) each Revolving Loan, if any, thereafter made through the utilization of
Revolving Commitments IV.

          "Revolving Loan Facility I" means the Facility evidenced by the
Revolving Commitments I.

          "Revolving Loan Facility II" means the Facility evidenced by the
Revolving Commitments II.

          "Revolving Loan Facility III" means the Facility evidenced by the
Revolving Commitments III.

          "Revolving Loan Facility IV" means the Facility evidenced by the
Revolving Commitments IV.

          "Revolving Loan Maturity Date I/II" means June 30, 2004.

          "Revolving Loan Maturity Date III/IV" means April 1, 2006.

          "RL Percentage" means as to any Lender that is a Revolving Lender III
or Revolving Lender IV, the percentage which such Lender's Revolving Commitment
as in effect on the Post-Extension Date constitutes of all Designated Revolving
Commitments on the Post- Extension Date.

          "Specified Escrow Amount" means on December 31, 2004, any and all
amounts then in the EP Escrow to the extent attributable to a Designated
Excluded Properties Sale in respect of, or Designated Indebtedness secured by,
any Excluded Property that would have constituted a Designated Property on such
date if such property had not been Disposed of or Utilized.

          "Specified NCP" has the meaning provided in Section 2.11(f).

          "Term Lender I" means (x) each Lender that holds Term Loans on the
Post-Extension Date that is not a Term Lender II and (y) any Lender which has
acquired by assignment pursuant to Section 9.04 a Term Loan I.

          "Term Lender II" means each Consenting IRL Lender so long as such
Lender holds Term Loans II and any Lender which has acquired by assignment
pursuant to Section 9.04 a Term Loan II.

          "Term Loan I" means each of the Term Loans (other than Term Loans II)
outstanding at the opening of business on the Post-Extension Date.

          "Term Loan II" has the meaning provided in Section 2.01(b).

          "Term Loan Facility I" means the Facility evidenced by the Term Loans
I.

                                      -15-

<PAGE>

          "Term Loan Facility II" means the Facility evidenced by the Term Loans
     II.

          "Utilized" means at any time an Excluded Property that has been
     encumbered by a Lien incurred pursuant to Section 6.03(q).

          (B) Section 2.01(a) of the Credit Agreement is amended by (i) changing
the reference therein to "Revolving Loan Maturity Date" to read "Revolving Loan
Maturity Date III/IV (or Revolving Loan Maturity Date I/II in the case of
Revolving Lenders I and Revolving Lenders II)" and (ii) adding three new
sentences before the last sentence of such Section to read:

     "Revolving Loans III will not be made at any time if, after giving effect
     thereto, the sum of (x) the aggregate outstanding principal amount of
     Revolving Loans III plus (y) the LC Obligations at such time would exceed
     the aggregate Revolving Commitments III at such time, it being understood
     that, as provided in Section 2.02(a) below, Revolving Loans II cannot be
     made at a time when Revolving Loans III cannot be made. Revolving Loans may
     not be borrowed (x) under Revolving Commitments I at a time when (and after
     giving effect to any concurrent Borrowing of Revolving Loans) the aggregate
     outstanding principal of Revolving Loans IV is less than the aggregate of
     the Revolving Commitments IV or (y) under Revolving Commitments II and/or
     Revolving Commitments III at a time when (and after giving effect to any
     concurrent Borrowing of Revolving Loans) (x) the aggregate outstanding
     principal amount of Revolving Loans I is less than the aggregate of the
     Revolving Commitments I at the time or (y) the aggregate outstanding
     principal amount of Revolving Loans IV is less than the aggregate Revolving
     Commitments IV. Revolving Loans may not be incurred on the Post-Extension
     Date."

          (C) Section 2.01(b) of the Credit Agreement is amended by (i) deleting
in its entirety the parenthetical in the first sentence and (ii) inserting a new
sentence before the last sentence of such Section to read:

     "On the Post-Extension Date, the aggregate principal amount of all
     Increasing Rate Term Loans held by each Consenting IRL Lender shall be
     converted into term loans hereunder (collectively, the "Term Loans II" and
     together with the Term Loans I, the "Term Loans" and, individually, each a
     "Term Loan")."

          (D) Section 2.02 of the Credit Agreement is amended by changing the
first sentence in paragraph (a) thereof to read:

          "(a) (i) Each Revolving Loan I shall be made as part of a Borrowing
     consisting of Revolving Loans I made by the Revolving Lenders I ratably in
     accordance with their respective Revolving Commitments I, (ii) each
     Revolving Loan II and Revolving Loan III shall be made as part of a
     Borrowing consisting of Revolving Loans II and Revolving Loans III made by
     the Revolving Lenders ratably in accordance with their respective Revolving
     Commitments II and Revolving Commitments III, (iii) each Revolving Loan IV
     shall be made as part of a Borrowing consisting of Revolving Loans IV made
     by the Revolving Lenders IV ratably in accordance with their respective
     Revolving Commitments IV, (iv) each Term Loan I shall be made as part of a
     Borrowing consisting

                                      -16-

<PAGE>

     of Term Loans I held ratably by Term Lenders I and (v) each Term Loan II
     shall be made as part of a Borrowing consisting of Term Loans II held
     ratably by Term Lenders II."

          (E) Section 2.04 of the Credit Agreement is amended by (w) deleting in
paragraph (a) thereof the phrase "(I) the aggregate principal amount at any time
outstanding that will not result in"; (x) changing the phrase, "the sum of the
total Revolving Extensions of Credit exceeding the total Revolving Commitments;
provided that" in paragraph (a) thereof to read "the sum of the Adjusted Total
Revolving Extensions of Credit exceeding the Adjusted Total Revolving
Commitment; provided that (i)"; (y) adding at the end of the penultimate
sentence in said paragraph (a) the following:

     "and (ii) all Swingline Loans outstanding on the date four Business Days
     prior to the Revolving Loan Maturity Date I/II shall become due and payable
     on such date and no further Swingline Loans may be incurred until after the
     Revolving Loan Maturity Date I/II";

and (z) in paragraph (c) thereof, (i) changing the first reference to "Revolving
Lenders" to read "Revolving Lenders III and, if on or prior to the Revolving
Loan Maturity Date I/II, the Revolving Lenders II"; (ii) inserting the word
"such" prior to the next reference therein to "Revolving Lenders" and the first
reference therein to "Revolving Lender"; and (iii) changing the reference to
"Revolving Lender" in the third, fourth and fifth sentence thereof to read
"Revolving Lender II and Revolving Lender III".

          (F) Section 2.05 of the Credit Agreement is amended by (i) changing
the reference to "Revolving Loan Maturity Date" in paragraph (a) thereof to read
"Revolving Loan Maturity Date III/IV"; (ii) adding the word "Adjusted"
immediately prior to the references in paragraph (b) thereof to "Total Revolving
Extensions of Credit" and to "Total Revolving Commitment"; (iii) changing the
reference to "Revolving Loan Maturity Date" in paragraph (c) thereof to read
"Revolving Loan Maturity Date III/IV"; (iv) in paragraph (d) thereof, (x)
changing the first reference therein to "each Revolving Lender" to read "each
Revolving Lender III and, if such issuance is prior to the Revolving Loan
Maturity Date I/II, each Revolving Lender II"; (y) changing the second reference
to "each Revolving Lender" in said paragraph (d) to read "each such Revolving
Lender"; and (z) changing the reference to "Revolving Lender" in the second and
third sentence of said paragraph (d) to read "each Revolving Lender II and
Revolving Lender III"; (v) adding the phrase "(if any)" after each reference to
"Revolving Percentage" in paragraph (e) thereof; and (vi) inserting after the
second reference to "Revolving Lenders" in paragraph (j) thereof the phrase
"with exposure for LC Obligations".

          (G) Section 2.08(a) of the Credit Agreement is hereby amended in its
entirety to read:

          "(a) The Borrower hereby unconditionally promises to pay (i) to the
     Administrative Agent (x) for the account of each Term Lender I the
     Scheduled Repayments as provided in Section 2.11(h)(i) and (y) for the
     account of each Term Lender II the Scheduled Repayments as provided in
     Section 2.11(h)(ii); (ii) to the Administrative Agent (x) for the account
     of each Revolving Lender I and Revolving Lender II the then unpaid
     principal amount of each Revolving Loan I and/or Revolving

                                      -17-

<PAGE>

     Loan II held by such Lender on the Revolving Loan Maturity Date I/II and
     (y) for the account of each Revolving Lender III and Revolving Lender IV,
     the then unpaid principal amount of each Revolving Loan III and/or
     Revolving Loan IV held by such Lender on the Revolving Loan Maturity Date
     III/IV; and (iii) to the Swingline Lender the then unpaid principal amount
     of each Swingline Loan on the earlier of (A) if made prior thereto, the
     date four Business Days prior to the Revolving Loan Maturity Date I/II, (B)
     the Swingline Expiry Date and (C) the first date after such Swingline Loan
     is made that is the 15th or last day of a calendar month and is at least
     two Business Days after such Swingline Loan is made; provided that on each
     date that a Revolving Loan Borrowing is made the Borrower shall repay all
     Swingline Loans then outstanding.

          (H) Section 2.09 of the Credit Agreement is amended by (I) changing
all of paragraph (a) thereof beginning with the reference therein to "(i)" and
ending with the reference therein to "(ii)" to read:

     "(i) all Revolving Commitments I and Revolving Commitments II shall
     terminate on the Revolving Loan Maturity Date I/II, (ii) all Revolving
     Commitments III and Revolving Commitments IV shall terminate on the
     Revolving Loan Maturity Date III/IV and (iii)";

(II) in paragraph (b) thereof, (x) changing the reference to "and (ii)" to read
", (ii) the Borrower shall not voluntarily reduce or terminate the Revolving
Commitments I or Revolving Commitments IV at any time when the Adjusted Total
Revolving Commitment exceeds zero, (iii) the Borrower shall not voluntarily
reduce or terminate the Revolving Commitments I or Revolving Commitments IV if
after giving effect to any concurrent prepayment of Revolving Loans I or
Revolving Loans IV, as the case may be, in accordance with Section 2.10 the
aggregate principal amount of the Revolving Loans I or Revolving Loans IV, as
the case may be, would exceed the aggregate Revolving Commitments I or aggregate
Revolving Commitments IV, as the case may be, (iv) the Borrower shall not reduce
the Revolving Commitments IV at any time prior to the Revolving Loan Maturity
Date I/II and (v)"; and (y) adding the word "Adjusted" immediately prior to the
references therein to "Total Revolving Commitment" and "Revolving Extensions of
Credit"; (III) changing the last sentence of paragraph (c) in its entirety to
read:

     "Each reduction of Revolving Commitments II and Revolving Commitments III
     pursuant to the foregoing provisions of this Section 2.09 shall be applied
     ratably among the Revolving Lenders II and Revolving Lenders III in
     accordance with their respective Revolving Commitment II or Revolving
     Commitment III, as the case may be, and each reduction of Revolving
     Commitment IV shall be applied ratably among the Revolving Lenders IV in
     accordance with their respective Revolving Commitments IV, with reductions
     to Revolving Commitments I, which may only be made when the Adjusted Total
     Revolving Commitment and the Revolving Commitments IV have been reduced to
     zero, to be applied ratably among the Revolving Lenders I in accordance
     with their respective Revolving Commitments I.";

and (IV) adding new paragraphs (e) and (f) to read:

                                      -18-

<PAGE>

          "(e) The Borrower may cause the Revolving Commitments III and/or
     Revolving Commitments IV to be increased, effective on the Revolving Loan
     Maturity Date I/II, by an aggregate amount up to, but not in excess of, the
     aggregate of Revolving Commitments I and Revolving Commitments II
     terminating on such date, with such additional Revolving Commitments III
     and Revolving Commitments IV to be provided by the Person or Persons
     specified by the Borrower to the Administrative Agent in writing, provided
     that (i) the Person or Persons providing the additional Revolving
     Commitments shall have executed an agreement reasonably satisfactory in
     form and substance to the Administrative Agent and the Borrower whereby
     such Person becomes a party to this Agreement with a Revolving Commitment
     III and/or Revolving Commitment IV as specified therein and (ii) if any
     Person so providing an additional Revolving Commitment was not theretofore
     a Revolving Lender, the Administrative Agent, the Issuing Bank and the
     Swingline Bank shall have consented to it becoming a Revolving Lender (such
     consent not to be unreasonably withheld). If any Revolving Commitments III
     and/or Revolving Commitments IV are created pursuant to this Section
     2.09(e) the Borrower shall incur and repay Revolving Loans, to the extent
     necessary (in the opinion of the Administrative Agent), and in such
     amounts, that, after giving effect thereto, the outstanding Revolving Loans
     III or Revolving Loans IV, as the case may be, (including in each case any
     made on the Revolving Loan Maturity Date I/II to repay Revolving Loans I,
     Revolving Loans II and/or Increasing Rate Term Loans to the extent
     permitted by Section 3.16(a)) will have been made by all Revolving Lenders
     III or Revolving Lenders IV, as the case may be, pro rata on the basis of
     their respective Revolving Commitments III or Revolving Commitments IV, as
     the case may be.

          (f) In addition, the Revolving Commitments shall be reduced as
     provided in Section 2.11(f). All reductions of Revolving Commitments
     provided for in this Section 2.09(f) shall be made ratably among the
     Revolving Lenders in accordance with their respective Revolving Commitments
     so being reduced."

          (I) Section 2.10 of the Credit Agreement is amended by (a) changing
the first reference therein to "Revolving Loans and Term Loans" to read "(i)
Revolving Loans I, (ii) Revolving Loans II and Revolving Loans III together and
(iii) Revolving Loans IV, (iv) Term Loans I and Term Loans II together"; (b)
inserting after the reference therein to "(iii)" the following:

     "prepayments pursuant to this Section 2.10 of Term Loans I and Term Loans
     II must be made ratably between Term Loans I and Term Loans II, provided
     that the actual payment date for each Class of Term Loans may vary so as to
     avoid costs under Section 2.16; (iv) no prepayment of Revolving Loans I or
     Revolving Loans IV (other than with Excess Proceeds) may be made pursuant
     to this Section 2.10 at any time when Revolving Loans II and/or Revolving
     Loans III are outstanding (after giving effect to any concurrent prepayment
     of such Loans); (v) no prepayment of Revolving Loans IV (other than with
     Excess Proceeds) may be made pursuant to this Section 2.10 at any time when
     Revolving Loans I are outstanding"

                                      -19-

<PAGE>

; and (c) inserting the phrase "due on such Term Loans" after the third
reference to "installments" in the current clause (iv) thereof; and (d) changing
the references to "(iv)" and "(v)" therein to read "(vii)" and "(viii)",
respectively.

          (J)  Section 2.11 of the Credit Agreement is amended by (i) in
paragraph (a) thereof, (w) changing the first reference to "Revolving Loans" in
each of the first and second sentences thereof to read "Revolving Loans II,
Revolving Loans III", (x) changing the second reference to "Revolving Loans" in
the first sentence thereof to read "Revolving Loans II and Revolving Loans III
(ratably among them)", (y) inserting the word "Adjusted" immediately prior to
each reference in said paragraph to "Total Revolving Commitment" and (z) adding
a new sentence at the end thereof to read "If on any date the aggregate
outstanding principal amount of all Revolving Loans IV (after giving effect to
all other repayments thereof on such date) exceeds the aggregate Revolving
Commitments IV on such date, the Borrower on such date shall repay Revolving
Loans IV in an aggregate equal to such excess"; (ii) changing the phrase "(other
than Permitted Debt Refinancing)" in paragraph (c) thereof to read "(other than
Designated Indebtedness and/or Permitted Debt Refinancing)"; (iii) replacing all
of paragraph (f) thereof beginning with the reference to "(C)" with the
following:

     "(C) third, to repay Term Loans, Revolving Loans III and Revolving Loans IV
     pro rata (based on the principal amount of the Term Loans then outstanding,
     the aggregate Revolving Commitments III and the aggregate Revolving
     Commitments IV), provided that (I) (x) so long as any Revolving Commitments
     IV are in effect, the maximum amount otherwise payable in respect of
     Revolving Loans III pursuant to the foregoing provisions of this clause (C)
     will be applied to repay Revolving Loans IV to the extent of the Revolving
     Commitments IV then in effect (after giving effect to the reduction to
     Revolving Commitments IV pursuant to this clause (C) as a result of the
     application of such Net Cash Proceeds determined without giving effect to
     clause (I)(x)) and (y) the Revolving Commitments IV shall be reduced in the
     maximum amount by which Revolving Loans IV are required to be repaid
     pursuant to this Section 2.11(f) (assuming there were no unutilized
     Revolving Commitments IV) and (II) the Revolving Commitments III shall only
     be reduced in the amount by which Revolving Loans III are repaid pursuant
     to this Section 2.11(f) (after giving effect to clause (I) (x) above).

and ; (iv) in paragraph (h) thereof, (w) inserting after the reference therein
to "Section 2.11" the phrase "(i)"; (x) changing the reference therein to "Term
Loans" to read "Term Loans I"; (y) inserting after the reference therein to
"each such repayment" the phrase ", together with each repayment required by
clause (ii) below,"; and (z) adding at the end of such paragraph the following:

     "and (ii) on each date set forth below, the Borrower shall be required to
     repay that principal amount of Term Loans II, to the extent then
     outstanding, as is set forth opposite such date:

     Scheduled Repayment Date                              Amount
     ------------------------                           -------------

     June 30, 2003                                      .5% of Term Loans II

                                      -20-

<PAGE>

     Scheduled Repayment Date                              Amount
     ------------------------                           -------------

     December 30, 2003                                  .5% of Term Loans II

     June 30, 2004                                      .5% of Term Loans II

     December 30, 2004                                  .5% of Term Loans II

     June 30, 2005                                      .5% of Term Loans II

     December 30, 2005                                  .5% of Term Loans II

     April 1, 2006                                      Balance"

          (K)  Section 2.12 of the Credit Agreement is amended by (i) changing
the first reference in clause (b) thereof to "Revolving Commitment" to read
"Revolving Commitment II or a Revolving Commitment III"; (ii) inserting the word
"Adjusted" immediately prior to each reference in clause (b) thereof to "Total
Revolving Commitment"; (iii) renumbering clause (d) as clause (e); and (iv)
inserting a new clause (d) to read:

          "(d) The Borrower agrees to pay to the Administrative Agent on the
     Revolving Loan Maturity Date III/IV (or if earlier on the earlier of (i)
     the date on which the Loans have become due and payable or (ii) the date on
     which the Total Revolving Commitments have been terminated and all
     Obligations have been repaid) for the account of each Lender a fee equal to
     2.00% of the sum of (x) its Revolving Commitments and (y) the aggregate
     outstanding principal amount of its Term Loans, in each case as of June 30,
     2005."

          (L)  Section 2.13 of the Credit Agreement is amended by (i) deleting
the reference in clause (d) to "or Swingline Loans"; (ii) changing the reference
in clause (d) to "Total Revolving Commitment" to read "the Revolving Commitment
pursuant to which made and in the case of Swingline Loans, upon termination of
the Total Revolving Commitment"; (iii) renumbering clause (e) as clause (f); and
(iv) adding a new clause (e) to read:

          "(e) In addition to the interest otherwise payable on the Loans
     pursuant to the foregoing provisions of this Section 2.13, interest ("PIK
     Interest") shall accrue on each Term Loan I outstanding on and/or after the
     Post-Extension Date until the date such Loan is repaid at the rate of 1.00%
     per annum, such interest to be compounded quarterly and to be due and
     payable on June 30, 2006 (or if earlier, the date on which the Term Loans I
     have become due and payable pursuant to Section 7 hereof)."

          (M)  Section 3.16(a) of the Credit Agreement is amended by adding at
the end of the second sentence thereof the following:

     "provided that Revolving Loans III and/or Revolving Loans IV may be
     incurred on the Revolving Loan Maturity Date I/II to repay outstanding
     Revolving Loans I, Revolving

                                      -21-

<PAGE>

     Loans II and/or Increasing Rate Term Loans only if (x) the requirements of
     Section 2.01(a) are satisfied and (y) after giving effect to such
     incurrence (and any concurrent incurrence of Revolving Loans III to repay
     Swingline Loans) the Borrower Liquidity Amount will be at least $50
     million."

          (N)  Section 6.02(f) of the Credit Agreement is amended by deleting
the portion of such clause beginning with "(A)" and ending with "(B)" and
inserting in lieu thereof the following:

     "(A) in respect of the Increasing Rate Term Loans outstanding in an
     aggregate principal amount not in excess of the aggregate principal amount
     thereof on the Post-Extension Date after giving effect to the conversion of
     Designated IRL Loans to Term Loans II and/or (B)".

          (O)  Section 6.08(a) of the Credit Agreement is amended by adding
after the reference therein to "Senior Notes" the phrase ", any Increasing Rate
Term Loans (other than, prior to the Post-Extension Date, Designated IRL Loans
and other than the repayment of Increasing Rate Term Loans at maturity on the
Revolving Loan Maturity Date I/II)".

          2.   On and as of the Post-Extension Date, all changes and consents
under the Third Amendment and Restatement that were to become effective on, or
required the occurrence of, the Specified Repayment Date (as defined in the
Third Amendment and Restatement) shall be terminated and be of no further force
or effect.

V.   Miscellaneous

          1.   In order to induce the undersigned Lenders to enter into this
Fifth Amendment and Restatement, the Borrower hereby represents and warrants
that (x) no Default or Event of Default exists on the Fifth Amendment and
Restatement Effective Date after giving effect to this Fifth Amendment and
Restatement, (y) all of the representations and warranties contained in the
Credit Agreement shall be true and correct in all material respects as of the
Fifth Amendment and Restatement Effective Date after giving effect to this Fifth
Amendment and Restatement, with the same effect as though such representations
and warranties had been made on and as of the Fifth Amendment and Restatement
Effective Date (unless such representations expressly relate to an earlier date,
in which case they shall be true and correct in all material respects on and as
of such earlier date) and (z) Schedule A attached hereto sets forth a true and
complete list of all existing Indebtedness constituting borrowed money of the
Borrower and its Subsidiaries in excess of $1,000,000 as of April 30, 2003 and
intended to remain outstanding after such date.

          2.   This Fifth Amendment and Restatement is limited as specified and
shall not constitute a modification, acceptance or waiver of any other provision
of the Credit Agreement or any other Loan Document.

          3.   This Fifth Amendment and Restatement may be executed in any
number of counterparts and by the different parties hereto on separate
counterparts, each of which counterparts when executed and delivered shall be an
original, but all of which shall together

                                      -22-

<PAGE>

constitute one and the same instrument. A complete set of counterparts shall be
lodged with the Borrower and the Administrative Agent.

           4.   THIS FIFTH AMENDMENT AND RESTATEMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND
BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

           5.   This Fifth Amendment and Restatement shall become effective on
the date (the "Fifth Amendment and Restatement Effective Date") on which the
Cut-Off Time occurs if each of the following conditions shall have been
satisfied:

     (i)   the Borrower, Lenders constituting the Required Lenders and (without
     duplication) Lenders holding at least 95% of the Revolving Commitments in
     effect immediately prior to the Fifth Amendment and Restatement Effective
     Date shall have signed a counterpart hereof (whether the same or different
     counterparts) and shall have delivered (including by way of facsimile
     transmission) the same to the Administrative Agent at White & Case LLP,
     1155 Avenue of the Americas, New York, NY 10036, Attention: Daniel M. Ford
     (facsimile number 212-354-8113);

     (ii)  the Administrative Agent shall have received a letter (which shall be
     reasonably satisfactory to the Administrative Agent) from counsel to the
     Borrower describing each Consent Property and the reasons why such Consent
     Property cannot be mortgaged to the Collateral Agent for the benefit of the
     Lenders;

     (iii) the Borrower shall have paid to the Administrative Agent and the
     Lenders all reasonable fees, costs and expenses (including, without
     limitation, reasonable legal fees and expenses thereof) payable to the
     Administrative Agent and the Lenders to the extent then due, as evidenced
     by an invoice delivered to the Borrower no less than three Business Days
     prior to the Fifth Amendment and Restatement Effective Date; and

     (iv)  the Fourth IRL Amendment shall have become effective in accordance
     with its terms.

Unless the Administrative Agent has received actual notice from any Lender that
the conditions contained in clauses (iii) and/or (iv) above have not been
satisfied, upon the satisfaction of the conditions described in clause (i) and
(ii) of the immediately preceding sentence and upon the Administrative Agent's
good faith determination that the other conditions described above have been
met, the Fifth Amendment and Restatement Effective Date shall be deemed to have
occurred, regardless of any subsequent determination that one or more of the
other conditions had not been met (although the occurrence of the Fifth
Amendment and Restatement Effective Date shall not release the Borrower from any
liability for failure to satisfy one or more of the other conditions specified
above).

           6.   The Borrower shall (x) pay each Lender which executed and
delivered a counterpart to this Fifth Amendment and Restatement on or prior to
8:00 P.M. (New York time) on May 29, 2003 (the "Cut-Off Time"), a non-refundable
cash fee (the "Amendment Fee") in an amount equal to .125% of the sum of the
outstanding principal amount of the Term Loans and of

                                      -23-

<PAGE>

the Revolving Commitment of such Lender determined as of the Fifth Amendment and
Restatement Effective Date, and (y) if the Extension Date occurs, each Revolving
Lender which has executed and delivered a counterpart of this Fifth Amendment
and Restatement prior to the Cut-Off Time, a non-refundable cash fee (the
"Extension Fee") in an amount equal to .50% of its Revolving Commitment
(determined on the Post-Extension Date), which fees shall be paid by the
Borrower to the Administrative Agent for distribution to the Lenders not later
than the second Business Day following the Fifth Amendment and Restatement
Effective Date (in the case of the Amendment Fee) or the Post-Extension Date (in
the case of the Extension Fee).

          7.   From and after the Fifth Amendment and Restatement Effective Date
all references in the Credit Agreement and the other Loan Documents to the
Credit Agreement shall be deemed to be references to the Credit Agreement as
modified hereby. Except as modified hereunder, the terms, provisions and
conditions of the Credit Agreement and the other Loan Documents shall continue
in full force and effect.

                                    * * * * *

                                      -24-

<PAGE>

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

                                          WYNDHAM INTERNATIONAL, INC.,

                                          By____________________________________
                                            Title:

                                          JPMORGAN CHASE BANK
                                            Individually and as Administrative
                                            Agent,

                                          By____________________________________
                                            Title:

                                          J.P.MORGAN SECURITIES INC.
                                            as Lead Arranger and Book Manager

                                          By____________________________________
                                            Title:

                                       25

<PAGE>

                                        NAME OF LENDER

                                        By_____________________________

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                       26

<PAGE>

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

                                   WYNDHAM INTERNATIONAL, INC.,

                                   By  /s/ ILLEGIBLE
                                       -----------------------------------------
                                       Title: executive Vice Present & CFO

                                   JPMORGAN CHASE BANK
                                      Individually and as Administrative
                                      Agent,

                                   By  _________________________________________
                                       Title:

                                   J.P.MORGAN SECURITIES INC.
                                      as Lead Arranger and Book Manager

                                   By  _________________________________________
                                       Title:

                                   NAME OF LENDER

                                   By  _________________________________________

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

                                   WYNDHAM INTERNATIONAL, INC.,

                                   By  _________________________________________
                                       Title:

                                   JPMORGAN CHASE BANK
                                       Individually and as Administrative Agent,

                                   By  /s/ Illegible
                                       -----------------------------------------
                                       Title: Managing Director

                                   J.P. MORGAN SECURITIES INC. as Lead Arranger
                                       and Book Manager

                                   By  /s/ J. Matthew Lyness
                                       -----------------------------------------
                                       Name: J. MATTHEW LYNESS
                                       Title: Managing Director

                                   NAME OF LENDER
                                     LANDMARK CDO LIMITED
                                     By: Aladdin Asset Managment, LLC

                                   By  /s/ Neil Nay
                                       -----------------------------------------
                                       Name:  Neil Nay
                                       Title: Authorized Signatory 5/28/03

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT)

                                      -27-

<PAGE>

                                   Alliance Capital Management L.P., as
                                   Manager on behalf of ALLIANCE CAPITAL
                                   FUNDING, L.L.C., as Assignee

                                   By: ALLIANCE CAPITAL MANAGEMENT
                                       CORPORATION, General Partner of Alliance
                                       Capital Management L.P.

                                   By  /s/ Nantha K. Suppiah
                                       -----------------------------------------
                                       Name:  Nantha K. Suppiah
                                       Title: Assistant Vice President

                                   New Alliance Global CDO, Limited
                                   By: Alliance Capital Management L.P.,
                                   as Sub-advisor
                                   By: Alliance Capital Management
                                   Corporation, as General Partner

                                   By: /s/ Nantha K. Suppiah
                                       -----------------------------------------
                                       Name:  Nantha K. Suppiah
                                       Title: Assistant Vice President

                                   Monument Capital Ltd., as Assignee

                                   By: Alliance Capital Management L.P.,
                                   as Investment Manager

                                   By: Alliance Capital Management
                                   Corporation, as General Partner

                                       By: /s/ Nantha K. Suppiah
                                           -------------------------------------
                                       Name:  Nantha K. Suppiah
                                       Title: Assistant Vice President

                                   NAME OF LENDER

                                   AIMCO CDO Series 2000-A

                                   By  /s/ Illegible
                                       -----------------------------------------

                                   By: /s/ Illegible
                                       -----------------------------------------

                                   NAME OF LENDER

                                   AIMCO CLO SERIES 2001-A

                                   By  /s/ Illegible
                                       -----------------------------------------

                                   By: /s/ Illegible
                                       -----------------------------------------

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -28-

<PAGE>

                                   NAME OF LENDER

                                   ALLSTATE LIFE INSURANCE COMPANY

                                   By  /s/ Illegible
                                       -----------------------------------------

                                   By: /s/ Illegible
                                       -----------------------------------------

                                   NAME OF LENDER

                                   AMMG CDO I, LIMITED
                                   By: American Money Management Corp.,
                                       as Collateral Manager

                                   By: /s/ David P. Meyer
                                       -----------------------------------------
                                       Name:  David P. Meyer
                                       Title: Vice President

                                   NAME OF LENDER:

                                   AG CAPITAL FUNDING PARTNERS, L.P.

                                   By: Angelo, Gordon & Co., L.P., as Investment
                                       Advisor

                                   By: /s/ John W. Fraser
                                       -----------------------------------------
                                       JOHN W. FRASER
                                       MANAGING DIRECTOR

                                   NAME OF LENDER:

                                   NORTHWOODS CAPITAL, LIMITED

                                   By: Angelo, Gordon & Co., L.P., as Collateral
                                       Manager

                                   By: /s/ John W. Fraser
                                       -----------------------------------------
                                       JOHN W. FRASER
                                       MANAGING DIRECTOR

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -29-

<PAGE>

                                   NAME OF LENDER:

                                   NORTHWOODS CAPITAL II, LIMITED

                                   By: Angelo, Gordon & Co., L.P., as Collateral
                                       Manager

                                   By: /s/ John W. Fraser
                                       -----------------------------------------
                                       JOHN W. FRASER
                                       MANAGING DIRECTOR

                                   NAME OF LENDER:

                                   NORTHWOODS CAPITAL III, LIMITED

                                   By: Angelo, Gordon & Co., L.P., as Collateral
                                       Manager

                                   By: /s/ John W. Fraser
                                       -----------------------------------------
                                       JOHN W. FRASER
                                       MANAGING DIRECTOR

                                   NAME OF LENDER

                                   By  _________________________________________

ARES Leveraged Investment Fund, L.P.   Ares IV CLO Ltd.

By: Ares Management, L.P.              By: Ares CLO Management IV, L.P.,
Its: General Partner                       Investment Manager

                                       By: ARES CLO GP IV, LLC,
                                           Its Managing Member

By: /s/ Jeff Moore                     By: /s/ Jeff Moore
    -------------------------------        -------------------------------------
Name:  JEFF MOORE                      Name:  JEFF MOORE
Title: VICE PRESIDENT                  Title: VICE PRESIDENT

ARES Leveraged Investment Fund II,     ARES V CLO Ltd.
L.P.

By:  ARES Management II, L.P.          By: ARES CLO Management V, L.P.,
Its: General Partner                       Investment Manager

By: /s/ Jeff Moore                     By: ARES CLO GP V, LLC,
    -------------------------------        Its Managing Member
Name:  JEFF MOORE
Title: VICE PRESIDENT

                                       By: /s/ Jeff Moore
                                           -------------------------------------
                                       Name:  JEFF MOORE
                                       Title: VICE PRESIDENT

                                       Bank Leumi USA

                                       By  /s/ Joung Hee Hong
                                           -------------------------------------
                                           Joung Hee Hong
                                           Vice President

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -30-

<PAGE>

                                   Bank Of America, N.A.

                                   By  /s/ Margaret J. Jackson
                                       -----------------------------------------
                                       Margaret J. Jackson
                                       Vice President

                                   NAME OF LENDER

                                   THE BANK OF NOVA SCOTIA

                                   By  /s/ M. Van Otterloo
                                       -----------------------------------------
                                       Maarty Van Otterloo
                                       MANAGING DIRECTOR

                                   VENTURE CDO 2002, LIMITED

                                   By its investment advisor, Barclays Capital
                                   Asset Management Limited,

                                   By its sub-advisor, Barclays Bank PLC,
                                   New York Branch

                                   By  /s/ Micheal G. Regal
                                       -----------------------------------------
                                       Micheal G. Regal
                                       Director

                                   BEAR STEARNS CORPORATE LENDING INC.

                                   By  /s/ Illegible
                                       -----------------------------------------

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -31-

<PAGE>

                                   BEAR STEARNS INVESTMENT PRODUCTS INC.

                                   By: /s/ Victor Bulzacchelli
                                       -----------------------------------------
                                       Name:  VICTOR BULZACCHELLI
                                       Title: AUTHORIZED AGENT

                                   BEAR STEARNS & CO. INC.

                                   By: /s/ Victor Bulzacchelli
                                       -----------------------------------------
                                       Name:  VICTOR BULZACCHELLI
                                       Title: AUTHORIZED AGENT

                                   Gallatin Funding I Ltd.
                                   By: Bear Stearns Asset Management Inc.
                                   as its Collateral Manager

                                   By: /s/ Justin Driscoll
                                       -----------------------------------------
                                       Name:  Justin Driscoll
                                       Title: Managing Director

                                   Grayston CLO 2001-01 Ltd.
                                   By: Bear Stearns Asset Management Inc.
                                   as its Collateral Manager

                                   By  /s/ Justin Driscoll
                                       -----------------------------------------
                                       Name:  Justin Driscoll
                                       Title: Managing Director

                                   MAGNETITE ASSET INVESTORS, LLC

                                   MAGNETITE CBO II, LIMITED

                                   MAGNETITE ASSET INVESTORS III, LIMITED

                                   MAGNETITE IV CLO, LIMITED

                                   TITANIUM CBO I, LIMITED

                                   BLACKROCK SENIOR LOAN TRUST

                                   By  /s/ M. J. Williams
                                       -----------------------------------------
                                       Name:  M. J. Williams
                                       Title: Managing Director

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -32-

<PAGE>

                                   LONG LANE MASTER TRUST II
                                   By Fleet National Bank as Trust
                                   Administrator, with respect to series
                                   Eclipse

                                   By  /s/ Renee Nadler
                                       -----------------------------------------
                                       Name:  RENEE NADLER
                                       Title: MANAGING DIRECTOR

                                   LONG LANE MASTER TRUST IV
                                   By: Fleet National Bank as Trust
                                   Administrator

                                   By  /s/ Roger Ackerman
                                       -----------------------------------------
                                       ROGER ACKERMAN
                                       DIRECTOR

                                   Carlyle High Yield Partners, L.P.

                                   NAME OF LENDER

                                   By  /s/ Linda Pace
                                       -----------------------------------------
                                       LINDA PACE
                                       PRINCIPAL

                                   Carlyle High Yield Partners II, Ltd.

                                   NAME OF LENDER

                                   By  /s/ Linda Pace
                                       -----------------------------------------
                                       LINDA PACE
                                       PRINCIPAL

                                   Carlyle High Yield Partners III, Ltd.

                                   NAME OF LENDER

                                   By  /s/ Linda Pace
                                       -----------------------------------------
                                       LINDA PACE
                                       PRINCIPAL

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -33-

<PAGE>

                                   Carlyle High Yield Partners IV, Ltd.

                                   NAME OF LENDER

                                   By  /s/ Linda Pace
                                       -----------------------------------------
                                       LINDA PACE
                                       PRINCIPAL

                                   TORONTO DOMINION (NEW YORK), INC.

                                   By  /s/ Stacey Malek
                                       -----------------------------------------
                                       STACEY MALEK
                                       VICE PRESIDENT

                                   CAPTIVA FINANCE LTD.

                                   By: /s/ David Dyer
                                       -----------------------------------------
                                       Name:  David Dyer
                                       Title: Director

                                   ELT LTD.

                                   By  /s/ Diana M. Himes
                                       -----------------------------------------
                                       DIANA M. HIMES
                                       AUTHORIZED AGENT

                                   AURUM CLO 2002-1 LTD.

                                   NAME OF LENDER

                                   By: Columbia Management Advisors, Inc.
                                       (f/k/a Stein Roe & Farnham Incorporated),
                                       As Investment Manager

                                   By  /s/ Kathleen A. Zam
                                       -----------------------------------------
                                       Kathleen A. Zam
                                       Senior Vice President

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -34-

<PAGE>

                                   STEIN ROE & FARNHAM CLO I LTD.

                                   NAME OF LENDER

                                   By: Columbia Management Advisors, Inc.
                                       (f/k/a Stein Roe & Farnham Incorporated),
                                       As Portfolio Manager

                                   By  /s/ Kathleen A. Zam
                                       -----------------------------------------
                                       Kathleen A. Zam
                                       Senior Vice President

                                   STEIN ROE FLOATING RATE
                                   LIMITED LIABILITY COMPANY

                                   NAME OF LENDER

                                   By: Columbia Management Advisors, Inc.
                                       (f/k/a Stein Roe & Farnham Incorporated),
                                       As Advisor

                                   By  /s/ Kathleen A. Zam
                                       -----------------------------------------
                                       Kathleen A. Zam
                                       Senior Vice President

                                   LIBERTY FLOATING RATE
                                   ADVANTAGE FUND

                                   NAME OF LENDER

                                   By: Columbia Management Advisors, Inc.
                                       (f/k/a Stein Roe & Farnham Incorporated),
                                       As Advisor

                                   By  /s/ Kathleen A. Zam
                                       -----------------------------------------
                                       Kathleen A. Zam
                                       Senior Vice President

                                   SRF TRADING, INC.

                                   By  /s/ Diana M. Himes
                                       -----------------------------------------
                                       DIANA M. HIMES
                                       ASSISTANT VICE PRESIDENT

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                       -35-

<PAGE>

                                   SRF 2000 LLC

                                   By  /s/ Diana M. Himes
                                       -----------------------------------------
                                       DIANA M. HIMES
                                       ASSISTANT VICE PRESIDENT

                                   JUPITER FUNDING TRUST

                                   By  /s/ Diana M. Himes
                                       -----------------------------------------
                                       DIANA M. HIMES
                                       AUTHORIZED AGENT

                                   NAME OF LENDER

                                   Illegible

                                   By: /s/ Illegible
                                       -----------------------------------------
                                   By: /s/ Illegible

                                   By  /s/ Illegible
                                       -----------------------------------------
                                       Illegible

                                   NAME OF LENDER

                                   By  /s/ Illegible
                                       -----------------------------------------
                                       Illegible
                                       Senior Vice President

                                   CREDIT SUISSE FIRST BOSTON

                                   By  /s/ Robert Healey
                                       -----------------------------------------
                                       Robert Healey
                                       Director

                                       /s/ Leigh Dworkin
                                       -----------------------------------------
                                       LEIGH DWORKIN
                                       ASSISTANT VICE PRESIDENT

                                   First Dominion Funding I

                                   By  /s/ David H. Lerner
                                       -----------------------------------------
                                       DAVID H. LERNER
                                       AUTHORIZED SIGNATORY

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -36-

<PAGE>

                                   First Dominion Funding II

                                   By  /s/ David H. Lerner
                                       -----------------------------------------
                                       DAVID H. LERNER
                                       AUTHORIZED SIGNATORY

                                   First Dominion Funding III

                                   By  /s/ David H. Lerner
                                       -----------------------------------------
                                       DAVID H. LERNER
                                       AUTHORIZED SIGNATORY

                                   CSAM Funding I

                                   By  /s/ David H. Lerner
                                       -----------------------------------------
                                       DAVID H. LERNER
                                       AUTHORIZED SIGNATORY

                                   CSAM Funding II

                                   By  /s/ David H. Lerner
                                       -----------------------------------------
                                       DAVID H. LERNER
                                       AUTHORIZED SIGNATORY

                                   Atrium CDO

                                   By  /s/ David H. Lerner
                                       -----------------------------------------
                                       DAVID H. LERNER
                                       AUTHORIZED SIGNATORY

                                   DEUTSCHE BANK TRUST COMPANY AMERICAS

                                   By  /s/ George R. Reynolds
                                       -----------------------------------------
                                       George R. Reynolds
                                       Vice President

                                   C.M. LIFE INSURANCE COMPANY
                                   By: David L. Babson & Company Inc. as
                                       Investment Sub-Adviser

                                   By  /s/ John B. Wheeler
                                       -----------------------------------------
                                       John B. Wheeler
                                       Managing Director

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -37-

<PAGE>

                                   ELC (CAYMAN) LTD. CDO SERIES 1999-I
                                   By: David L. Babson & Company Inc. as
                                       Collateral Manager

                                   By  /s/ John B. Wheeler
                                       -----------------------------------------
                                       John B. Wheeler
                                       Managing Director

                                   ELC (CAYMAN) LTD. 1999-III
                                   By: David L. Babson & Company Inc. as
                                       Collateral Manager

                                   By  /s/ John B. Wheeler
                                       -----------------------------------------
                                       John B. Wheeler
                                       Managing Director

                                   ELC (CAYMAN) LTD. 1999-II
                                   By: David L. Babson & Company Inc. as
                                       Collateral Manager

                                   By  /s/ John B. Wheeler
                                       -----------------------------------------
                                       John B. Wheeler
                                       Managing Director

                                   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
                                   By: David L. Babson & Company Inc. as
                                       Investment Adviser

                                   By  /s/ John B. Wheeler
                                       -----------------------------------------
                                       John B. Wheeler
                                       Managing Director

                                   PERSEUS CDO I, LIMITED
                                   By: David L. Babson & Company Inc. under
                                       delegated authority from Massachusetts
                                       Mutual Life Insurance Company as
                                       Portfolio Manager

                                   By  /s/ John B. Wheeler
                                       -----------------------------------------
                                       John B. Wheeler
                                       Managing Director

                                   SIMSBURY CLO, LIMITED

                                   By: David L. Babson & Company Inc. under
                                       delegated authority from Massachusetts
                                       Mutual Life Insurance Company as
                                       Collateral Manager

                                   By  /s/ John B. Wheeler
                                       -----------------------------------------
                                       John B. Wheeler
                                       Managing Director

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -38-

<PAGE>

                                   TRYON CLO LTD. 2000-I

                                   By: David L. Babson & Company Inc. as
                                       Collateral Manager

                                   By  /s/ John B. Wheeler
                                       -----------------------------------------
                                       John B. Wheeler
                                       Managing Director

                                   MASSMUTUAL HIGH YIELD PARTNERS II LLC

                                   By: HYP Management, Inc. as Managing Member

                                   By  /s/ John B. Wheeler
                                       -----------------------------------------
                                       John B. Wheeler
                                       Managing Director

                                   SENIOR DEBT PORTFOLIO

                                   By: Boston Management and Research
                                       as Investment Advisor

                                   By  /s/ Payson F. Swaffield
                                       -----------------------------------------
                                       PAYSON F. SWAFFIELD
                                       VICE PRESIDENT

                                   EATON VANCE SENIOR INCOME TRUST

                                   By: EATON VANCE MANAGEMENT AS
                                       INVESTMENT ADVISOR

                                   By  /s/ Payson F. Swaffield
                                       -----------------------------------------
                                       PAYSON F. SWAFFIELD
                                       VICE PRESIDENT

                                   EATON VANCE INSTITUTIONAL SENIOR LOAN FUND

                                   By: EATON VANCE MANAGEMENT AS INVESTMENT
                                       ADVISOR

                                   By  /s/ Payson F. Swaffield
                                       -----------------------------------------
                                       PAYSON F. SWAFFIELD
                                       VICE PRESIDENT

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -39-

<PAGE>

                                   EATON VANCE CDO III, LTD.

                                   BY: EATON VANCE MANAGEMENT AS INVESTMENT
                                       ADVISOR

                                   By  /s/ Payson F. Swaffield
                                       -----------------------------------------
                                       PAYSON F. SWAFFIELD
                                       VICE PRESIDENT

                                   EATON VANCE CDO IV, LTD.

                                   BY: EATON VANCE MANAGEMENT AS INVESTMENT
                                       ADVISOR

                                   By  /s/ Payson F. Swaffield
                                       -----------------------------------------
                                       PAYSON F. SWAFFIELD
                                       VICE PRESIDENT

                                   COSTANTINUS EATON VANCE CDO V, LTD.

                                   BY: EATON VANCE MANAGEMENT AS INVESTMENT
                                       ADVISOR

                                   By  /s/ Payson F. Swaffield
                                       -----------------------------------------
                                       PAYSON F. SWAFFIELD
                                       VICE PRESIDENT

                                   GRAYSON & CO

                                   BY: BOSTON MANAGEMENT AND RESEARCH
                                       AS INVESTMENT ADVISOR

                                   By  /s/ Payson F. Swaffield
                                       -----------------------------------------
                                       PAYSON F. SWAFFIELD
                                       VICE PRESIDENT

                                   Fidelity Fixed-Income Trust: Fidelity
                                   High Income Fund

                                   By  /s/ John H. Costello
                                       -----------------------------------------
                                       John H. Costello
                                       Assistant Treasurer

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -40-

<PAGE>

                                   Fidelity Advisor Series II: Fidelity Advisor
                                   High Income Fund

                                   By  /s/ John H. Costello
                                       -----------------------------------------
                                       John H. Costello
                                       Assistant Treasurer

                                   BALLYROCK CDO I Limited

                                   By: BALLYROCK Investment Advisors LLC,
                                       as Collateral Manager

                                   By  /s/ Lisa Rymut
                                       -------------------------------------
                                       Lisa Rymut
                                       Assistant Treasurer

                                   Fidelity Advisor Series II:
                                   Fidelity Advisor High Income Advantage

                                   By  /s/ John H. Costello
                                       -------------------------------------
                                       John H. Costello
                                       Assistant Treasurer

                                   Commonwealth of Massachusetts Pension
                                   Reserves Investment Management Board

                                   By: Fidelity Management Trust Company, as
                                       Investment Manager, under Power of
                                       Attorney

                                   By  /s/ John P. O' Reilly, Jr.
                                       -----------------------------------------
                                       John P. O' Reilly, Jr.
                                       Executive Vice President

                                   Pension Investment Committee of General
                                   Motors for General Motors Employees Domestic
                                   Group Pension Trust

                                   By: Fidelity Management Trust Company, as
                                       Investment Manager, under Power of
                                       Attorney

                                   By  /s/ John P. O' Reilly, Jr.
                                       -----------------------------------------
                                       John P. O' Reilly, Jr.
                                       Executive Vice President

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -41-

<PAGE>

                                   NAME OF LENDER

                                   FLEET NATIONAL BANK

                                   By  /s/ Amy S. Cioci
                                       -----------------------------------------
                                       Amy S. Cioci
                                       Authorized Officer

                                   Franklin Floating Rate Trust

                                   NAME OF LENDER

                                   By  /s/ Richard D'Addario
                                       -----------------------------------------
                                       Richard D'Addario
                                       Vice President

                                   Franklin CLO II, Limited

                                   NAME OF LENDER

                                   By  /s/ Richard D'Addario
                                       -----------------------------------------
                                       Richard D'Addario
                                       Senior Vice President

                                   Franklin CLO III, Limited

                                   NAME OF LENDER

                                   By  /s/ Richard D'Addario
                                       -----------------------------------------
                                       Richard D'Addario
                                       Senior Vice President

                                   KZH PONDVIEW LLC

                                   By  /s/ Dorian Herrera
                                       -----------------------------------------
                                       DORIAN HERRERA
                                       AUTHORIZED AGENT

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -42-

<PAGE>

                                   KZH WATERSIDE LLC

                                   By  /s/ Dorian Herrera
                                       -----------------------------------------
                                       DORIAN HERRERA
                                       AUTHORIZED AGENT

                                   GOLDMAN SACHS CREDIT PARTNERS L.P.

                                   By  /s/ Albert Dombrowski
                                       -----------------------------------------
                                       Albert Dombrowski
                                       Authorized Signatory

                                   SRV-HIGHLAND, INC

                                   By  /s/ Diana M. Himes
                                       -----------------------------------------
                                       DIANA M. HIMES
                                       ASSISTANT VICE PRESIDENT

                                   Restoration Funding CLO, Ltd.

                                   By: Highland Capital Management, L.P.
                                       As Collateral Manager

                                   By  /s/ Illegible
                                       -----------------------------------------

                                   Highland Legacy Limited

                                   By: Highland Capital Management, L.P.
                                       As Collateral Manager

                                   By  /s/ Illegible
                                       -----------------------------------------

                                   Highland Loan Funding V, Ltd.

                                   By: Highland Capital Management, L.P.
                                       As Collateral Manager

                                   By  /s/ Illegible
                                       -----------------------------------------

                                   Pamco Cayman, Ltd.

                                   By: Highland Capital Management, L.P.
                                       As Collateral Manager

                                   By  /s/ Illegible
                                       -----------------------------------------

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -43-

<PAGE>

                                   Pam Capital Funding, Ltd.

                                   By: Highland Capital Management, L.P.
                                       As Collateral Manager

                                   By  /s/ Illegible
                                       -----------------------------------------

                                   ELF FUNDING TRUST I

                                   By: Highland Capital Management, L.P.
                                       As Collateral Manager

                                   By  /s/ Illegible
                                       -----------------------------------------

                                   ML CBO IV (Cayman), Ltd.

                                   By: Highland Capital Management, L.P.

                                       As Collateral Manager

                                   By  /s/ Illegible
                                       -----------------------------------------

                                   Highland Offshore Partners, L.P.

                                   By: Highland Capital Management, L.P.

                                       As General Partner

                                   By  /s/ Illegible
                                       -----------------------------------------

                                   California Public Employees' Retirement
                                   System

                      By: Highland Capital Management, L.P.

                      As Authorized Representatives of the
                                      Board

                                   By  /s/ Illegible
                                       -----------------------------------------

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -44-

<PAGE>

                                   KZH HIGHLAND-2 LLC

                                   By  /s/ Dorian Herrera
                                       -----------------------------------------
                                       DORIAN HERRERA
                                       AUTHORIZED AGENT

                                   KZH PAMCO LLC

                                   By  /s/ Dorian Herrera
                                       -----------------------------------------
                                       DORIAN HERRERA
                                       AUTHORIZED AGENT

                                   EMERALD ORCHARD LIMITED

                                   By  /s/ Stacey Malek
                                       -----------------------------------------
                                       STACEY MALEK
                                       ATTORNEY IN FACT

                                   NAME OF LENDER

                                   Pacifica Partners LLP

                                   By: Imperial Credit Asset Management as its
                                       Investment Manager

                                   By  /s/ Dean K. Kawai
                                       -----------------------------------------
                                       DEAN K. KAWAI
                                       Vice President

                                   _____________________________________________
                                   INDOSUEZ CAPITAL FUNDING IIA, LIMITED
                                   By: Indosuez Capital as Portfolio Advisor

                                   By: /s/ Charles Kobayashi
                                       -----------------------------------------
                                       Name:  Charles Kobayashi
                                       Title: Principal and Portfolio Manager

_______________________
INDOSUEZ CAPITAL FUNDING           INDOSUEZ CAPITAL FUNDING III, LIMITED
VI, LIMITED

By: Indosuez Capital as            By: Indosuez Capital as Portfolio Advisor
    Collateral Manager

By: /s/ Charles Kobayashi          By: /s/ Charles Kobayashi
    ----------------------------       -----------------------------------------
    Name:  Charles Kobayashi           Name: Charles Kobayashi
    Title: Principal and               Title: Principal and Portfolio Manager
           Portfolio Manager

                                   RIVIERA FUNDING LLC

                                   By  /s/ Diana M. Himes
                                       -----------------------------------------
                                       DIANA M. HIMES
                                       ASSISTANT VICE PRESIDENT

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -45-

<PAGE>

                                   ARCHIMEDES FUNDING LLC.

                                   BY: ING Capital Advisors LLC,
                                       as Collateral Manager

                                   BY: /s/ Jane Musser Nelson
                                       -----------------------------------------
                                       Name:  Jane Musser Nelson
                                       Title: Managing Director

                                   ARCHIMEDES FUNDING II, LTD.

                                   BY: ING Capital Advisors LLC,
                                       as Collateral Manager

                                   BY: /s/ Jane Musser Nelson
                                       -----------------------------------------
                                       Name:  Jane Musser Nelson
                                       Title: Managing Director

                                   ARCHIMEDES FUNDING III, LTD.

                                   BY: ING Capital Advisors LLC,
                                       as Collateral Manager

                                   BY: /s/ Jane Musser Nelson
                                       -----------------------------------------
                                       Name:  Jane Musser Nelson
                                       Title: Managing Director

                                   ARCHIMEDES FUNDING IV (CAYMAN), LTD.

                                   BY: ING Capital Advisors LLC,
                                       as Collateral Manager

                                   BY: /s/ Jane Musser Nelson
                                       -----------------------------------------
                                       Name:  Jane Musser Nelson
                                       Title: Managing Director

                                   ENDURANCE CLO I, LTD.

                                   c/o: ING Capital Advisors LLC,
                                        as Collateral Manager

                                   BY: /s/ Jane Musser Nelson
                                       -----------------------------------------
                                       Name:  Jane Musser Nelson
                                       Title: Managing Director

                                   SEQUILS-ING I (HBDGM), LTD.

                                   BY: ING Capital Advisors LLC,
                                       as Collateral Manager

                                   BY: /s/ Jane Musser Nelson
                                       -----------------------------------------
                                       Name:  Jane Musser Nelson
                                       Title: Managing Director

                                   BALANCED HIGH-YEILD FUND II, LTD.

                                   BY: ING Capital Advisors LLC,
                                       as Asset Manager

                                   BY: /s/ Jane Musser Nelson
                                       -----------------------------------------
                                       Name:  Jane Musser Nelson
                                       Title: Managing Director

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -46-

<PAGE>

                                   ORYX CLO, LTD.

                                   BY: ING Capital Advisors LLC,
                                       as Collateral Manager

                                   BY: /s/ Jane Musser Nelson
                                       -----------------------------------------
                                       Name:  Jane Musser Nelson
                                       Title: Managing Director

                                   THE ING CAPITAL SENIOR SECURED HIGH
                                   INCOME HOLDINGS FUND, LTD.

                                   BY: ING Capital Advisors LLC,
                                       as Investment Manager

                                   BY: /s/ Jane Musser Nelson
                                       -----------------------------------------
                                       Name:  Jane Musser Nelson
                                       Title: Managing Director

                                   ING PRIME RATE TRUST

                                   By: ING Investments, LLC
                                       as its investment manager

                                   By: /s/ Jason Groom
                                       -----------------------------------------
                                       Name:  JASON GROOM
                                       Title: VICE PRESIDENT

                                   ING SENIOR INCOME FUND

                                   By: ING Investments, LLC
                                       as its investment manager

                                   By: /s/ Jason Groom
                                       -----------------------------------------
                                       Name:  JASON GROOM
                                       Title: VICE PRESIDENT

                                   ML CLO XX PILGRIM AMERICA
                                   (CAYMAN) LTD,

                                   By: ING Investments, LLC
                                       as Its investment Manager

                                   By: /s/ Jason Groom
                                       -----------------------------------------
                                       Name:  JASON GROOM
                                       Title: VICE PRESIDENT

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -47-

<PAGE>

                                   ML CLO XV PILGRIM AMERICA
                                   (CAYMAN) LTD,

                                   By: ING Investments, LLC
                                       as Its investment Manager

                                   By: /s/ Jason Groom
                                       -----------------------------------------
                                       Name:  JASON GROOM
                                       Title: VICE PRESIDENT

                                   ML CLO XII PILGRIM AMERICA
                                   (CAYMAN) LTD,

                                   By: ING Investments, LLC
                                       as Its investment Manager

                                   By: /s/ Jason Groom
                                       -----------------------------------------
                                       Name:  JASON GROOM
                                       Title: VICE PRESIDENT

                                   SEQUILS - PILGRIM I. LTD

                                   By: ING Investments, LLC
                                       as its investment manager

                                   By: /s/ Jason Groom
                                       -----------------------------------------
                                       Name:  JASON GROOM
                                       Title: VICE PRESIDENT

                                   PILGRIM CLO 1999-1 LTD.

                                   By: ING Investments, LLC
                                       as its investment manager

                                   By: /s/ Jason Groom
                                       -----------------------------------------
                                       Name:  JASON GROOM
                                       Title: VICE PRESIDENT

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -48-

<PAGE>

                                   PILGRIM AMERICA HIGH INCOME INVESTMENTS LTD,

                                   By: ING Investments, LLC
                                       as its investment manager

                                   By: /s/ Jason Groom
                                       -----------------------------------------
                                       Name:  JASON GROOM
                                       Title: VICE PRESIDENT

                                   KZH ING-3 LLC

                                   By  /s/ Dorian Herrera
                                       -----------------------------------------
                                       DORIAN HERRERA
                                       AUTHORIZED AGENT

                                   AERIES FINANCE-II LTD.

                                   By: INVESCO Senior Secured Management, Inc.
                                       An Sub-Managing Agent

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                                   AMARA-I FINANCE, LTD.

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Financial Manager

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                                   AMARA 2 FINANCE, LTD.

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Financial Manager

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -49-

<PAGE>

                                   AVALON CAPITAL LTD.

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Portfolio Advisor

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                                   AVALON CAPITAL LTD. 2

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Portfolio Advisor

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                                   CERES II FINANCE LTD.

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Sub-Managing Agent (Financial)

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                                   DIVERSIFIED CREDIT PORTFOLIO LTD.

                                   By: INVESCO Senior Secured Management, Inc.
                                       as Investment Adviser

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                                   AIM FLOATING RATE FUND

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Attorney in fact

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -50-

<PAGE>

                                   SEQUILS-LIBERTY, LTD.

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Collateral Manager

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                                   SARATOGA CLO I, LIMITED

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Asset Manager

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                                   TRITON CBO III, LIMITED

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Investment Advisor

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                                   CERES FINANCE LTD.

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Sub-Managing Agent

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                                   OASIS COLLATERALIZED HIGH INCOME
                                   PORTFOLIOS-1, LTD.

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Subadvisor

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -51-

<PAGE>

                                   CHARTER VIEW PORTFOLIO

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Investment Advisor

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                                   INVESCO CBO 2000-1 LTD.

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Portfolio Advisor

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                                   INVESCO EUROPEAN CDO I S.A.

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Collateral Manager

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                                   STRATA FUNDING LTD.

                                   By: INVESCO Senior Secured Management, Inc.
                                       As Sub-Managing Agent

                                   By  /s/ Anne M. McCarthy
                                       -----------------------------------------
                                       Anne M. McCarthy
                                       Authorized Signatory

                                   NAME OF LENDER: KATONAH II, LTD.

                                   By  /s/ Ralph Della Rocca
                                       -----------------------------------------
                                       RALPH DELLA ROCCA
                                       Authorized Officer
                                       Katonah Capital, L.L.C.
                                       As Manager

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -52-

<PAGE>

                                   NAME OF LENDER: KATONAH III, LTD.

                                   By  /s/ Ralph Della Rocca
                                       -----------------------------------------
                                       RALPH DELLA ROCCA
                                       Authorized Officer
                                       Katonah Capital, L.L.C.
                                       As Manager

                                   NAME OF LENDER

                                   MASTER SENIOR FLOATING RATE TRUST

                                   By: /s/ Daniel Luchansky
                                       -----------------------------------------
                                       Daniel Luchansky
                                       Authorized Signatory

                                   NAME OF LENDER

                                   MERRILL LYNCH GLOBAL INVESTMENT SERIES:
                                   INCOME STRATEGIES PORTFOLIO

                                   By: Merrill Lynch Investment Managers, L.P.
                                       as Investment Advisor

                                   By: /s/ Daniel Luchansky
                                       -----------------------------------------
                                       Daniel Luchansky
                                       Authorized Signatory

                                   NAME OF LENDER

                                   DEBT STRATEGIES FUND, INC.

                                   By: /s/ Daniel Luchansky
                                       -----------------------------------------
                                       Daniel Luchansky
                                       Authorized Signatory

                                   NAME OF LENDER

                                   SENIOR HIGH INCOME PORTFOLIO, INC.

                                   By: /s/ Daniel Luchansky
                                       -----------------------------------------
                                       Daniel Luchansky
                                       Authorized Signatory

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -53-

<PAGE>

                                   NAME OF LENDER

                                   MERRILL LYNCH PRIME RATE PORTFOLIO

                                   By: Merrill Lynch Investment Managers, L.P.
                                       as Investment Advisor

                                   By: /s/ Daniel Luchansky
                                       -----------------------------------------
                                       Daniel Luchansky
                                       Authorized Signatory

                                   MERRIL LYNCH, PIERCE, FENNER
                                   & SMITH INCORPORATED

                                   By  /s/ Kevin Lydon
                                       -----------------------------------------
                                       KEVIN LYDON
                                       MANAGING DIRECTOR

                                   NAME OF LENDER

                                   Morgan Stanley Prime Income Trust

                                   By  /s/ Sheila A. Finnerty
                                       -----------------------------------------
                                       Sheila A. Finnerty
                                       Executive Director

                                   NAME OF LENDER

                                   By  _________________________________________

                                   OAK HILL CREDIT PARTNERS I, LIMITED

                                   By: Oak Hill CLO Management I, LLC
                                       as Investment Manager

                                   By: /s/ Scott D. Krase
                                       -----------------------------------------
                                       Name:  SCOTT D. KRASE
                                       Title: Authorized Signatory

                                   NAME OF LENDER

                                   By  _________________________________________

                                   OAK HILL SECURITIES FUND II, L.P.

                                   By: Oak Hill Securities GenPar II, L.P.
                                       its General Partners

                                   By: Oak Hill Securities, MGB, II, Inc.,
                                       its General Partner

                                   By: /s/ Scott D. Krase
                                       -----------------------------------------
                                       Name:  SCOTT D. KRASE
                                       Title: Authorized Signatory

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -54-

<PAGE>

                                   NAME OF LENDER

                                   By  _________________________________________

                                   OAK HILL SECURITIES FUND, L.P.

                                   By: Oak Hill Securities GenPar, L.P.
                                       Its General Partner

                                   By: Oak Hill Securities MGR Inc.,
                                       Its General Partner

                                   By: /s/ Scott D. Krase
                                       -----------------------------------------
                                       Name:  SCOTT D. KRASE
                                       Title: Authorized Signatory

                                   NAME OF LENDER

                                   OCTAGON INVESTMENT PARTNERS III, LTD.

                                   By: Octagon Credit Investors, LLC
                                       as Portfolio Manager

                                   By  /s/ Andrew D. Gordon
                                       -----------------------------------------
                                       Andrew D. Gordon
                                       Portfolio Manager

                                   NAME OF LENDER

                                   OCTAGON INVESTMENT PARTNERS IV, LTD.

                                   By: Octagon Credit Investors, LLC
                                       as collateral manager

                                   By  /s/ Andrew D. Gordon
                                       -----------------------------------------
                                       Andrew D. Gordon
                                       Portfolio Manager

                                   HARBOUR TOWN FUNDING LLC

                                   By  /s/ Diana M. Himes
                                       -----------------------------------------
                                       DIANA M. HIMES
                                       ASSISTANT VICE PRESIDENT

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -55-

<PAGE>

                                   Dryden Leveraged Loan CDO 2002 II

                                   By: Prudential Investment Management, Inc.,
                                       as Collateral Manager

                                   By  /s/ B. Ross Smead
                                       -----------------------------------------
                                       B. Ross Smead
                                       Vice President

                                   Dryden III - Leveraged Loan CDO 2002

                                   By: Prudential Investment Management, Inc.,
                                       as Collateral Manager

                                   By  /s/ B. Ross Smead
                                       -----------------------------------------
                                       B. Ross Smead
                                       Vice President

                                   NAME OF LENDER
                                   ---------------------------------------------

                                   Smoky River CDO, L.P.,

                                   By  RBC Leveraged Capital
                                       as Portfolio Advisor

                                   By: /s/ Melissa Marano
                                       -----------------------------------------
                                       Name:  Melissa Marano
                                       Title: Partner

                                   Galaxy CLO 1999-1, Ltd.

                                   By  /s/ John G. Lapham, III
                                       -----------------------------------------
                                       John G. Lapham, III
                                       Authorized Agent

                                   SunAmerica Life Insurance Company

                                   By  /s/ John G. Lapham, III
                                       -----------------------------------------
                                       John G. Lapham, III
                                       Authorized Agent

                                   Sankaty Advisors, Inc., as Collateral Manager
                                   for Brant Point CBO 1999-1 LTD.,
                                   as Term Lender

                                   By  /s/ Diane J. Exter
                                       -----------------------------------------
                                       DIANE J. EXTER
                                       MANAGING DIRECTOR
                                       PORTFOLIO MANAGER

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -56-

<PAGE>

                                   Sankaty Advisors, LLC, as Collateral
                                   Manager for Brant Point II CBO
                                   2000-1 LTD., as Term Lender

                                   By  /s/ Diane J. Exter
                                       -----------------------------------------
                                       DIANE J. EXTER
                                       MANAGING DIRECTOR
                                       PORTFOLIO MANAGER

                                   Sankaty Advisors, LLC as Collateral
                                   Manager for Castle Hill I - INGOTS, Ltd.,
                                   as Term Lender

                                   By  /s/ Diane J. Exter
                                       -----------------------------------------
                                       DIANE J. EXTER
                                       MANAGING DIRECTOR
                                       PORTFOLIO MANAGER

                                   Sankaty Advisors, LLC as Collateral
                                   Manager for Castle Hill II - INGOTS, Ltd.,
                                   as Term Lender

                                   By  /s/ Diane J. Exter
                                       -----------------------------------------
                                       DIANE J. EXTER
                                       MANAGING DIRECTOR
                                       PORTFOLIO MANAGER

                                   Sankaty Advisors, Inc. as Collateral
                                   Manager for Great Point CBO 1998-I LTD.,
                                   as Term Lender

                                   By  /s/ Diane J. Exter
                                       -----------------------------------------
                                       DIANE J. EXTER
                                       MANAGING DIRECTOR
                                       PORTFOLIO MANAGER

                                   Sankaty Advisors, LLC as Collateral
                                   Manager for Great Point CLO 1999-I LTD.,
                                   as Term Lender

                                   By  /s/ Diane J. Exter
                                       -----------------------------------------
                                       DIANE J. EXTER
                                       MANAGING DIRECTOR
                                       PORTFOLIO MANAGER

                          [SIGNATURE PAGE TO THE FTFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -57-

<PAGE>

                                   Sankaty Advisors, LLC as Collateral
                                   Manager for Race Point CLO, Limited,
                                   as Term Lender

                                   By  /s/ Diane J. Exter
                                       -----------------------------------------
                                       DIANE J. EXTER
                                       MANAGING DIRECTOR
                                       PORTFOLIO MANAGER

                                   Sankaty High Yield Partners III, L.P.

                                   By  /s/ Diane J. Exter
                                       -----------------------------------------
                                       DIANE J. EXTER
                                       MANAGING DIRECTOR
                                       PORTFOLIO MANAGER

                                   Sankaty Credit Opportunities, L.P.

                                   By  /s/ Diane J. Exter
                                       -----------------------------------------
                                       DIANE J. EXTER
                                       MANAGING DIRECTOR
                                       PORTFOLIO MANAGER

                                   HARBOUR TOWN FUNDING TRUST

                                   By  /s/ Diana M. Himes
                                       -----------------------------------------
                                       DIANA M. HIMES
                                       AUTHORIZED AGENT

                                   NAME OF LENDER

                                   By  /s/ Thomas K. Day
                                       -----------------------------------------
                                       Thomas K. Day
                                       Managing Director

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -58-

<PAGE>

                                   Name of Lender:

                                   The Siam Commercial Bank PCL, Singapore
                                   Branch

                                   By: /s/ Nattapong Samit-Ampaipisarn
                                       -----------------------------------------
                                       Name:  Nattapong Samit-Ampaipisarn
                                       Title: SVP & General Manager

                                   By: /s/ Ronald Tay
                                       -----------------------------------------
                                       Name:  Ronald Tay

                                       Title: Head of Corporate & Institutional
                                              Banking

                                   Stanfield/RMF Transatlantic CDO Ltd.

                                   By: Stanfield Capital Partners LLC
                                       as its Collateral Manager

                                   By  /s/ Christopher E. Jansen
                                       -----------------------------------------
                                       Christopher E. Jansen
                                       Managing Partner

                           Stanfield Quattro CLO, Ltd.

                                   By: Stanfield Capital Partners LLC
                                       As its Collateral Manager

                                   By  /s/ Christopher E. Jansen
                                       -----------------------------------------
                                       Christopher E. Jansen
                                       Managing Partner

                                   Windsor Loan Funding, Limited

                                   By: Stanfield Capital Partners LLC
                                       as its Investment Manager

                                   By  /s/ Christopher E. Jansen
                                       -----------------------------------------
                                       Christopher E. Jansen
                                       Managing Partner

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -59-

<PAGE>

                                   Stanfield CLO Ltd.

                                   By: Stanfield Capital Partners LLC
                                       as its Collateral Manager

                                   By  /s/ Christopher E. Jansen
                                       -----------------------------------------
                                       Christopher E. Jansen
                                       Managing Partner

                                   SunAmerica Senior Floating Rate
                                   Fund Inc.

                                   By: Stanfleld Capital Partners LLC
                                       as subadvisor

                                   By  /s/ Christopher E. Jansen
                                       -----------------------------------------
                                       Christopher E. Jansen
                                       Managing Partner

                          Stanfield Arbitrage CDO, Ltd.

                                   By: Stanfield Capital Partners LLC
                                       as its Collateral Manager

                                   By  /s/ Christopher E. Jansen
                                       -----------------------------------------
                                       Christopher E. Jansen
                                       Managing Partner

                                   Hamilton CDO, Ltd.

                                   By: Stanfield Capital Partners LLC
                                       As its Collateral Manager

                                   By  /s/ Christopher E. Jansen
                                       -----------------------------------------
                                       Christopher E. Jansen
                                       Managing Partner

                                   Axis/SRS Limited

                                   By: Stanfield Capital Partners LLC
                                       As its Sub-Manager

                                   By  /s/ Christopher E. Jansen
                                       -----------------------------------------
                                       Christopher E. Jansen
                                       Managing Partner

                                   SRS Strategies (Cayman) LP

                                   By: Stanfield Capital Partners LLC
                                       as It's Investment Manager

                                   By  /s/ Christopher E. Jansen
                                       -----------------------------------------
                                       Christopher E. Jansen
                                       Managing Partner

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -60-

<PAGE>

                                   NAME OF LENDER

                                   Nuveen Senior Income Fund

                                   By  /s/ Illegible
                                       -----------------------------------------

                                   KZH CNC LLC

                                   By  /s/ Dorian Herrera
                                       -----------------------------------------
                                       DORIAN HERRERA
                                       AUTHORIZED AGENT

                                   KZH CRESCENT LLC

                                   By  /s/ Dorian Herrera
                                       -----------------------------------------
                                       DORIAN HERRERA
                                       AUTHORIZED AGENT

                                   KZH CRESCENT-2 LLC

                                   By  /s/ Dorian Herrera
                                       -----------------------------------------
                                       DORIAN HERRERA
                                       AUTHORIZED AGENT

                                   KZH CRESCENT-3 LLC

                                   By  /s/ Dorian Herrera
                                       -----------------------------------------
                                       DORIAN HERRERA
                                       AUTHORIZED AGENT

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -61-

<PAGE>

                                   SIGNATURE PAGE TO THE FIFTH
                                   AMENDMENT AND RESTATEMENT TO
                                   THE CREDIT AGREEMENT

                                   SEQUILS I, LTD.

                                   By: TCW Advisors, Inc.
                                       as its Collateral Manager

                                   By: /s/ Richard F. Kurth
                                       -----------------------------------------
                                       Name:  RICHARD F. KURTH
                                       Title: SENIOR VICE PRESIDENT

                                   By: /s/ Jonathan R. Insull
                                       -----------------------------------------
                                       Name:  JONATHAN R. INSULL
                                       Title: MANAGING DIRECTOR

                                   SEQUILS IV, LTD.

                                   By: TCW Advisors, Inc.
                                       as its Collateral Manager

                                   By: /s/ Richard F. Kurth
                                       -----------------------------------------
                                       Name:  RICHARD F. KURTH
                                       Title: SENIOR VICE PRESIDENT

                                   By: /s/ Jonathan R. Insull
                                       -----------------------------------------
                                       Name:  JONATHAN R. INSULL
                                       Title: MANAGING DIRECTOR

                                   TCW SELECT LOAN FUND, LIMITED

                                   By: TCW Advisors, Inc.
                                       as its Collateral Manager

                                   By: /s/ Richard F. Kurth
                                       -----------------------------------------
                                       Name:  RICHARD F. KURTH
                                       Title: SENIOR VICE PRESIDENT

                                   By: /s/ Jonathan R. Insull
                                       -----------------------------------------
                                       Name:  JONATHAN R. INSULL
                                       Title: MANAGING DIRECTOR

                                   CRESCENT/MACH I PARTNERS, L.P.

                                   By: TCW Asset Management Company
                                       Its Investment Manager

                                   By: /s/ Richard F. Kurth
                                       -----------------------------------------
                                       Name:  RICHARD F. KURTH
                                       Title: SENIOR VICE PRESIDENT

                                   By: /s/ Jonathan R. Insull
                                       -----------------------------------------
                                       Name:  JONATHAN R. INSULL
                                       Title: MANAGING DIRECTOR

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -62-

<PAGE>

                                   EASTMAN HILL FUNDING I, LIMITED

                                   By: TCW Asset Management Company,
                                       as its Collateral Manager

                                   By: /s/ Illegible
                                       -----------------------------------------
                                       Name:  Illegible
                                       Title: Illegible

                                   SIGNATURE PAGE TO THE FIFTH
                                   AMENDMENT AND RESTATEMENT TO
                                   THE CREDIT AGREEMENT

                                   TCW Leveraged Income Trust II, L.P.

                                   By: TCW Advisers (Bermuda), Ltd.,
                                       as General Partner

                                   By: /s/ Richard F. Kurth
                                       -----------------------------------------
                                       Name:  RICHARD F. KURTH
                                       Title: SENIOR VICE PRESIDENT

                                   By: TCW Investment Management Company,
                                       as Investment Adviser

                                   By: /s/ Jonathan R. Insull
                                       -----------------------------------------
                                       Name:  JONATHAN R. INSULL
                                       Title: MANAGING DIRECTOR

                                   TCW LEVERAGED INCOME TRUST IV, L.P.

                                   By: TCW (LINC IV), L.L.C.,
                                       as General Partner

                                   By: TCW ASSET MANAGEMENT COMPANY,
                                       as managing member of the General Partner

                                   By: /s/ Richard F. Kurth
                                       -----------------------------------------
                                       Name:  RICHARD F. KURTH
                                       Title: SENIOR VICE PRESIDENT

                                   By: /s/ Jonathan R. Insull
                                       -----------------------------------------
                                       Name:  JONATHAN R. INSULL
                                       Title: MANAGING DIRECTOR

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -63-

<PAGE>

                                   APEX (Trimaran) CDO I, LTD.

                                   By  Trimaran Advisors, L.L.C.

                                   By  /s/ David M. Millison
                                       -----------------------------------------
                                       David M. Millison
                                       Managing Director

                                   CARAVELLE INVESTMENT FUND, L.L.C.

                                   By  Trimaran Advisors, L.L.C.

                                   By  /s/ David M. Millison
                                       -----------------------------------------
                                       David M. Millison
                                       Managing Director

                                   VAN KAMPEN CLO I, LIMITED

                                   By: Van Kampen Investment Advisory Corp
                                       As Collateral Manager

                                   By  /s/ William Lenga
                                       -----------------------------------------
                                       WILLIAM LENGA
                                       VICE PRESIDENT

                                   VAN KAMPEN CLO II, LIMITED

                                   By: Van Kampen Investment Advisory Corp
                                       As Collateral Manager

                                   By  /s/ William Lenga
                                       -----------------------------------------
                                       WILLIAM LENGA
                                       VICE PRESIDENT

                                   VAN KAMPEN SENIOR INCOME TRUST

                                   By: Van Kampen Investment Advisory Corp.

                                   By  /s/ Brad Langs
                                       -----------------------------------------
                                       BRAD LANGS
                                       EXECUTIVE DIRECTOR

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -64-

<PAGE>

                                   VAN KAMPEN SENIOR FLOATING RATE FUND

                                   By: Van Kampen Investment Advisory Corp.

                                   By  /s/ Darvin D. Pierce
                                       -----------------------------------------
                                       DARVIN D. PIERCE
                                       EXECUTIVE DIRECTOR

                                   VAN KAMPEN PRIME RATE INCOME TRUST

                                   By: Van Kampen Investment Advisory Corp.

                                   By  /s/ Christina Jamieson
                                       -----------------------------------------
                                       CHRISTINA JAMIESON
                                       VICE PRESIDENT

                                   CAPTIVA II FINANCE LTD.

                                   By  /s/ David Dyer
                                       -----------------------------------------
                                       Name:  David Dyer
                                       Title: Director

                          [SIGNATURE PAGE TO THE FIFTH
               AMENDMENT AND RESTATEMENT TO THE CREDIT AGREEMENT]

                                      -65-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}]]