Document:

Exhibit 4.4 

	
  

 	
  

 	
  

 
	
  

 	
 FORM OF INDENTURE

 	
  

 
	
  

 	
  

 	
  

 
	
  

 	
 AmREIT, INC.

 	
  

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 
	
  

 	
 INDENTURE

 	
  

 
	
  

 
	
 Dated as of ___________, 20[__]

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 
	
  

 	
 [_________________] 

Trustee

 	
  

 
	
  

 	
  

 	
  

 

CROSS-REFERENCE TABLE*

	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Trust
 Indenture

 	
  

 
	
  

 	
 Act
 Section

 	
 Indenture Section

 
	
  

 	
 310

 	
 (a)(1)

 	
 7.10

 
	
  

 	
  

 	
 (a)(2)

 	
 7.10

 
	
  

 	
  

 	
 (a)(3)

 	
 N.A.

 
	
  

 	
  

 	
 (a)(4)

 	
 N.A.

 
	
  

 	
  

 	
 (a)(5)

 	
 7.10

 
	
  

 	
  

 	
 (b)

 	
 7.10

 
	
  

 	
  

 	
 (c)

 	
 N.A.

 
	
  

 	
 311

 	
 (a)

 	
 7.11

 
	
  

 	
  

 	
 (b)

 	
 7.11

 
	
  

 	
  

 	
 (c)

 	
 N.A.

 
	
  

 	
 312

 	
 (a)

 	
 2.06

 
	
  

 	
  

 	
 (b)

 	
 12.03

 
	
  

 	
  

 	
 (c)

 	
 12.03

 
	
  

 	
 313

 	
 (a)

 	
 7.06

 
	
  

 	
  

 	
 (b)(2)

 	
 7.06;
 7.07

 
	
  

 	
  

 	
 (c)

 	
 7.06;
 12.02

 
	
  

 	
  

 	
 (d)

 	
 7.06

 
	
  

 	
 314

 	
 (a)

 	
 4.03;12.02;
 12.05

 
	
  

 	
  

 	
 (c)(1)

 	
 12.04

 
	
  

 	
  

 	
 (c)(2)

 	
 12.04

 
	
  

 	
  

 	
 (c)(3)

 	
 N.A.

 
	
  

 	
  

 	
 (e)

 	
 12.05

 
	
  

 	
  

 	
 (f)

 	
 N.A.

 
	
  

 	
 315

 	
 (a)

 	
 7.01

 
	
  

 	
  

 	
 (b)

 	
 7.05,12.02

 
	
  

 	
  

 	
 (c)

 	
 7.01

 
	
  

 	
  

 	
 (d)

 	
 7.01

 
	
  

 	
  

 	
 (e)

 	
 6.11

 
	
  

 	
 316

 	
 (a) (last sentence)

 	
 2.09

 
	
  

 	
  

 	
 (a)(1)(A)

 	
 6.05

 
	
  

 	
  

 	
 (a)(1)(B)

 	
 6.04

 
	
  

 	
  

 	
 (a)(2)

 	
 N.A.

 
	
  

 	
  

 	
 (b)

 	
 6.07

 
	
  

 	
  

 	
 (c)

 	
 2.13

 
	
  

 	
 317

 	
 (a)(1)

 	
 6.08

 
	
  

 	
  

 	
 (a)(2)

 	
 6.09

 
	
  

 	
  

 	
 (b)

 	
 2.05

 
	
  

 	
 318

 	
 (a)

 	
 12.01

 
	
  

 	
  

 	
 (b)

 	
 N.A.

 
	
  

 	
  

 	
 (c)

 	
 12.01

 

N.A. means not applicable. 

* This Cross Reference Table is
not part of the Indenture. 

TABLE OF CONTENTS

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Page

 
	
  

 	
  

 	
  

 
	
 ARTICLE 1.

 
	
 DEFINITIONS
 AND INCORPORATION

 
	
 BY
 REFERENCE

 
	
  

 	
  

 	
  

 
	
 Section 1.01

 	
 Definitions

 	
 1

 
	
 Section 1.02

 	
 Other Definitions

 	
 6

 
	
 Section 1.03

 	
 Incorporation by Reference
 of Trust Indenture Act

 	
 6

 
	
 Section 1.04

 	
 Rules of Construction

 	
 7

 
	
  

 
	
 ARTICLE 2.

 
	
 THE
 SECURITIES

 
	
  

 	
  

 	
  

 
	
 Section 2.01

 	
 Issuable in Series

 	
 7

 
	
 Section 2.02

 	
 Establishment of Terms of
 Series of Securities

 	
 7

 
	
 Section 2.03

 	
 Execution and
 Authentication

 	
 10

 
	
 Section 2.04

 	
 Registrar and Paying Agent

 	
 11

 
	
 Section 2.05

 	
 Paying Agent to Hold Money
 in Trust

 	
 11

 
	
 Section 2.06

 	
 Holder Lists

 	
 11

 
	
 Section 2.07

 	
 Transfer and Exchange

 	
 12

 
	
 Section 2.08

 	
 Replacement Securities

 	
 12

 
	
 Section 2.09

 	
 Outstanding Securities

 	
 12

 
	
 Section 2.10

 	
 Treasury Securities

 	
 13

 
	
 Section 2.11

 	
 Temporary Securities

 	
 13

 
	
 Section 2.12

 	
 Cancellation

 	
 13

 
	
 Section 2.13

 	
 Defaulted Interest

 	
 13

 
	
 Section 2.14

 	
 Global Securities

 	
 14

 
	
 Section 2.15

 	
 CUSIP Numbers

 	
 15

 
	
  

 	
  

 	
  

 
	
 ARTICLE 3.

 
	
 REDEMPTION
 AND PREPAYMENT

 
	
  

 	
  

 	
  

 
	
 Section 3.01

 	
 Notices to Trustee

 	
 15

 
	
 Section 3.02

 	
 Selection of Securities to
 Be Redeemed or Purchased

 	
 15

 
	
 Section 3.03

 	
 Notice of Redemption

 	
 16

 
	
 Section 3.04

 	
 Effect of Notice of
 Redemption

 	
 17

 
	
 Section 3.05

 	
 Deposit of Redemption or
 Purchase Price

 	
 17

 
	
 Section 3.06

 	
 Securities Redeemed or
 Purchased in Part

 	
 17

 
	
  

 	
  

 	
  

 
	
 ARTICLE 4.

 
	
 COVENANTS

 
	
  

 	
  

 	
  

 
	
 Section 4.01

 	
 Payment of Securities

 	
 18

 
	
 Section 4.02

 	
 Maintenance of Office or
 Agency

 	
 18

 
	
 Section 4.03

 	
 Reports

 	
 18

 
	
 Section 4.04

 	
 Compliance Certificate

 	
 19

 
	
 Section 4.05

 	
 Taxes

 	
 19

 
	
 Section 4.06

 	
 Stay, Extension and Usury
 Laws

 	
 20

 
	
 Section 4.07

 	
 Corporate Existence

 	
 20

 

i

	
  

 	
  

 	
  

 
	
 ARTICLE 5.

 
	
 SUCCESSORS

 
	
  

 	
  

 	
  

 
	
 Section 5.01

 	
 Merger, Consolidation, or
 Sale of Assets

 	
 20

 
	
 Section 5.02

 	
 Successor Person
 Substituted

 	
 21

 
	
  

 	
  

 	
  

 
	
 ARTICLE 6.

 
	
 DEFAULTS
 AND REMEDIES

 
	
  

 	
  

 	
  

 
	
 Section 6.01

 	
 Events of Default

 	
 21

 
	
 Section 6.02

 	
 Acceleration

 	
 22

 
	
 Section 6.03

 	
 Other Remedies

 	
 23

 
	
 Section 6.04

 	
 Waiver of Past Defaults

 	
 23

 
	
 Section 6.05

 	
 Control by Majority

 	
 23

 
	
 Section 6.06

 	
 Limitation on Suits

 	
 24

 
	
 Section 6.07

 	
 Rights of Holders of
 Securities to Receive Payment

 	
 24

 
	
 Section 6.08

 	
 Collection Suit by Trustee

 	
 24

 
	
 Section 6.09

 	
 Trustee May File Proofs of
 Claim

 	
 24

 
	
 Section 6.10

 	
 Priorities

 	
 25

 
	
 Section 6.11

 	
 Undertaking for Costs

 	
 25

 
	
  

 	
  

 	
  

 
	
 ARTICLE 7.

 
	
 TRUSTEE

 
	
  

 	
  

 	
  

 
	
 Section 7.01

 	
 Duties of Trustee

 	
 26

 
	
 Section 7.02

 	
 Rights of Trustee

 	
 27

 
	
 Section 7.03

 	
 Individual Rights of
 Trustee

 	
 27

 
	
 Section 7.04

 	
 Trustee’s Disclaimer

 	
 28

 
	
 Section 7.05

 	
 Notice of Defaults

 	
 28

 
	
 Section 7.06

 	
 Reports by Trustee to
 Holders of the Securities

 	
 28

 
	
 Section 7.07

 	
 Compensation and Indemnity

 	
 28

 
	
 Section 7.08

 	
 Replacement of Trustee

 	
 29

 
	
 Section 7.09

 	
 Successor Trustee by
 Merger, etc.

 	
 30

 
	
 Section 7.10

 	
 Eligibility;
 Disqualification

 	
 30

 
	
 Section 7.11

 	
 Preferential Collection of
 Claims Against Company

 	
 30

 
	
  

 	
  

 	
  

 
	
 ARTICLE 8.

 
	
 LEGAL
 DEFEASANCE AND COVENANT DEFEASANCE

 
	
  

 	
  

 	
  

 
	
 Section 8.01

 	
 Option to Effect Legal
 Defeasance or Covenant Defeasance

 	
 31

 
	
 Section 8.02

 	
 Legal Defeasance and
 Discharge

 	
 31

 
	
 Section 8.03

 	
 Covenant Defeasance

 	
 31

 
	
 Section 8.04

 	
 Conditions to Legal or
 Covenant Defeasance

 	
 32

 
	
 Section 8.05

 	
 Deposited Money and
 Government Securities to be Held in Trust; Other

 	
  

 
	
  

 	
 Miscellaneous Provisions

 	
 33

 
	
 Section 8.06

 	
 Repayment to Company

 	
 33

 
	
 Section 8.07

 	
 Reinstatement

 	
 34

 
	
  

 	
  

 	
  

 
	
 ARTICLE 9.

 
	
 AMENDMENT,
 SUPPLEMENT AND WAIVER

 
	
  

 	
  

 	
  

 
	
 Section 9.01

 	
 Without Consent of Holders
 of Securities

 	
 34

 
	
 Section 9.02

 	
 With Consent of Holders of
 Securities

 	
 35

 
	
 Section 9.03

 	
 Compliance with Trust
 Indenture Act

 	
 37

 
	
 Section 9.04

 	
 Revocation and Effect of
 Consents

 	
 37

 

ii

	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 
	
 Section 9.05

 	
 Notation on or Exchange of
 Securities

 	
 37

 
	
 Section 9.06

 	
 Trustee to Sign
 Amendments, etc.

 	
 37

 
	
  

 	
  

 	
  

 
	
 ARTICLE 10.

 
	
 GUARANTEES

 
	
  

 	
  

 	
  

 
	
 Section 10.01

 	
 Guarantees

 	
 37

 
	
 Section 10.02

 	
 Limitation on Guarantor
 Liability

 	
 38

 
	
 Section 10.03

 	
 Execution and Delivery of
 Security Guarantee

 	
 39

 
	
 Section 10.04

 	
 Guarantors May
 Consolidate, etc., on Certain Terms

 	
 39

 
	
 Section 10.05

 	
 Releases Following Sale of
 Assets

 	
 40

 
	
  

 	
  

 	
  

 
	
 ARTICLE 11.

 
	
 SATISFACTION
 AND DISCHARGE

 
	
  

 	
  

 	
  

 
	
 Section 11.01

 	
 Satisfaction and Discharge

 	
 40

 
	
 Section 11.02

 	
 Application of Trust Money

 	
 41

 
	
  

 	
  

 	
  

 
	
 ARTICLE 12.

 
	
 MISCELLANEOUS

 
	
  

 	
  

 	
  

 
	
 Section 12.01

 	
 Trust Indenture Act
 Controls

 	
 42

 
	
 Section 12.02

 	
 Notices

 	
 42

 
	
 Section 12.03

 	
 Communication by Holders
 of Securities with Other Holders of Securities

 	
 43

 
	
 Section 12.04

 	
 Certificate and Opinion as
 to Conditions Precedent

 	
 43

 
	
 Section 12.05

 	
 Statements Required in
 Certificate or Opinion

 	
 43

 
	
 Section 12.06

 	
 Rules by Trustee and
 Agents

 	
 44

 
	
 Section 12.07

 	
 No Personal Liability of
 Directors, Officers, Employees and Stockholders

 	
 44

 
	
 Section 12.08

 	
 Governing Law

 	
 44

 
	
 Section 12.09

 	
 No Adverse Interpretation
 of Other Agreements

 	
 44

 
	
 Section 12.10

 	
 Successors

 	
 44

 
	
 Section 12.11

 	
 Severability

 	
 44

 
	
 Section 12.12

 	
 Counterpart Originals

 	
 44

 
	
 Section 12.13

 	
 Table of Contents, Headings,
 etc.

 	
 44

 

iii

          INDENTURE
dated as of
[___________], 20[__] among AmREIT, Inc., a Maryland corporation, the
Guarantors (as defined herein) and [___________], as trustee. 

          The
Company, the Guarantors and the Trustee agree as follows for the benefit of
each other and for the equal and ratable benefit of the Holders (as defined
herein) of the Securities issued under this Indenture: 

ARTICLE 1.

DEFINITIONS AND
INCORPORATION 

BY REFERENCE 

Section
1.01     Definitions
“Additional Amounts” means any
additional amounts which are required hereby or by any Security, under
circumstances specified herein or therein, to be paid by the Company in respect
of certain taxes imposed on Holders specified therein and which are owing to
such Holders. 

          “Affiliate” of any specified Person means
any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For purposes of
this definition, “control,” as used with respect to any Person, means the
possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of such Person, whether through the
ownership of voting securities, by agreement or otherwise; provided that beneficial ownership of 10%
or more of the Voting Stock of a Person will be deemed to be control. For
purposes of this definition, the terms “controlling,” “controlled by” and
“under common control with” have correlative meanings. 

          “Agent” means any Registrar, co-registrar, Paying
Agent or additional paying agent. 

          “Authentication Order” means a written
order signed in the name of the Company by an Officer. 

          “Bankruptcy
Law” means Title 11,
U.S. Code or any similar federal or state law for the relief of debtors. 

          “Board of Directors” means the Board of
Directors of the Company or any duly authorized committee thereof. 

          “Board Resolution” means a copy of a
resolution certified by the Secretary or an Assistant Secretary of the Company
to have been adopted by the Board of Directors or pursuant to authorization by
the Board of Directors and to be in full force and effect on the date of the
certificate and delivered to the Trustee. 

          “Business
Day” means any day other
than a Legal Holiday. 

          “Capital Lease Obligation” means, at the
time any determination is to be made, the amount of the liability in respect of
a capital lease that would at that time be required to be capitalized on a
balance sheet in accordance with GAAP. 

          “Capital Stock” means: 

	
  

 	
  

 	
  

 
	
  

 	
           (1)     in
 the case of a corporation, corporate stock; 

 
	
  

 	
  

 	
  

 
	
  

 	
           (2)     in
 the case of an association or business entity, any and all shares, interests,
 participations, rights or other equivalents (however designated) of corporate
 stock; 

 

1

	
  

 	
  

 	
  

 
	
  

 	
           (3)     in
 the case of a partnership or limited liability company, partnership or
 membership interests (whether general or limited); and 

 
	
  

 	
  

 	
  

 
	
  

 	
           (4)     any
 other interest or participation that confers on a Person the right to receive
 a share of the profits and losses of, or distributions of assets of, the
 issuing Person. 

 

          “Company” means AmREIT, Inc., a Maryland corporation,
and any and all successors thereto. 

          “Corporate
Trust Office of the Trustee” will be at the address of the Trustee specified in Section 12.02
hereof or such other address as to which the Trustee may give notice to the
Company. 

          “Default” means any event that is, or with the passage
of time or the giving of notice or both would be, an Event of Default. 

          “Depositary” means, with respect to the Securities
issuable or issued in whole or in part in global form, the Person specified in
Section 2.02 hereof as the Depositary with respect to the Securities, and any
and all successors thereto appointed as depositary hereunder and having become
such pursuant to the applicable provision of this Indenture. 

          “Discount Security” means any Security that
provides for an amount less than the stated principal amount thereof to be due
and payable upon declaration of acceleration of the maturity thereof pursuant
to Section 6.02. 

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

          “GAAP” means generally accepted accounting
principles set forth in the opinions and pronouncements of the Accounting
Principles Board of the American Institute of Certified Public Accountants and
statements and pronouncements of the Financial Accounting Standards Board or in
such other statements by such other entity as have been approved by a
significant segment of the accounting profession as amended and/or modified
from time to time. 

          “Global
Securities” means a
Security or Securities, as the case may be, in the form established pursuant to
Section 2.02 evidencing all or part of a Series of Securities, issued to the
Depositary for such Series or its nominee, and registered in the name of such
Depositary or nominee. 

          “Government
Securities” means
securities issued or directly and fully guaranteed or insured by the United
States government or any agency or instrumentality of the United States
government (provided that the
full faith and credit of the United States is pledged in support of those
securities), and additionally, in respect of any Series of Securities
denominated in other than United States dollars, securities issued or directly
and fully guaranteed or insured by the government in whose currencies such
Series of Securities are denominated (which in the case of the Euro shall be
deemed to include any government whose functional currency is the Euro). 

          “Guarantee” means a guarantee other than by
endorsement of negotiable instruments for collection or deposit in the ordinary
course of business, direct or indirect, in any manner including, without
limitation, by way of a pledge of assets or through letters of credit or
reimbursement agreements in respect thereof, of all or any part of any
Indebtedness. 

          “Guarantors” means each of: 

	
  

 	
  

 
	
  

 	
           (1)     the
 guarantors listed on the signature pages hereto; and 

 

2

	
  

 	
  

 
	
  

 	
 (2)               any
 other Subsidiary that executes a Security Guarantee in accordance with the
 provisions of this Indenture, and their respective successors and assigns. 

 

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

	
  

 	
  

 
	
  

 	
           (1)     interest
 rate swap agreements (whether from fixed to floating or from floating to
 fixed), interest rate cap agreements and interest rate collar agreements; 

 
	
  

 	
  

 
	
  

 	
           (2)     other
 agreements or arrangements designed to manage interest rates or interest rate
 risk; and 

 
	
  

 	
  

 
	
  

 	
           (3)     other
 agreements or arrangements designed to protect such Person against
 fluctuations in currency exchange rates or commodity prices. 

 

          “Holder” means a Person in whose name a Security is
registered. 

          “Indebtedness” means, with respect to any
specified Person, any indebtedness of such Person, whether or not contingent: 

	
  

 	
  

 
	
  

 	
           (1)     in
 respect of borrowed money; 

 
	
  

 	
  

 
	
  

 	
           (2)     evidenced
 by bonds, notes, debentures or similar instruments or letters of credit or
 reimbursement agreements in respect thereof (other than reimbursement
 obligations with respect to letters of credit securing obligations (other
 than obligations described in (1), (2) (other than letters of credit), (3),
 (4), (5) or (6)) entered into in the ordinary course of business of such
 Person to the extent such letters of credit are not drawn upon or, if and to
 the extent drawn upon, such drawing is reimbursed no later than the third
 Business Day following receipt by such Person of a demand for reimbursement
 following payment on the letter of credit); 

 
	
  

 	
  

 
	
  

 	
           (3)     in
 respect of banker’s acceptances; 

 
	
  

 	
  

 
	
  

 	
           (4)     representing
 Capital Lease Obligations; 

 
	
  

 	
  

 
	
  

 	
           (5)     representing
 the balance deferred and unpaid of the purchase price of any property, except
 any such balance that constitutes an accrued expense or trade payable; or 

 
	
  

 	
  

 
	
  

 	
           (6)     representing
 any Hedging Obligations, 

 

if
and to the extent any of the preceding items (other than letters of credit and
Hedging Obligations) would appear as a liability upon a balance sheet of the
specified Person prepared in accordance with GAAP. In addition, the term
“Indebtedness” includes all Indebtedness of others secured by a Lien on any
asset of the specified Person (whether or not such Indebtedness is assumed by
the specified Person) and, to the extent not otherwise included, the Guarantee
by the specified Person of any indebtedness of any other Person. 

          The
amount of any Indebtedness outstanding as of any date will be: 

	
  

 	
  

 
	
  

 	
           (1)     the
 accreted value of the Indebtedness, in the case of any Indebtedness issued
 with original issue discount; 

 

3

	
  

 	
  

 
	
  

 	
           (2)     the
 principal amount of the Indebtedness, together with any interest on the
 Indebtedness that is more than 30 days past due, in the case of any other
 Indebtedness; and 

 
	
  

 	
  

 
	
  

 	
           (3)     with
 respect to Hedging Obligations, the amount of Indebtedness required to be
 recorded as a liability in accordance with GAAP. 

 

          “Indenture” means this instrument as amended and
supplemented from time to time by one or more indentures supplemental hereto
entered into pursuant to the applicable provisions hereof, and shall include
the terms of particular Series of Securities established as contemplated by
Section 2.02; provided, however,
that, if at any time more than one Person is acting as Trustee under this
instrument, “Indenture” shall mean, with respect to any one or more Series of
Securities for which such Person is Trustee, this instrument as originally
executed or as it may from time to time be supplemented or amended by one or
more indentures supplemental hereto entered into pursuant to the applicable
provisions hereof and shall include the terms of the or those particular Series
of Securities for which such Person is Trustee established as contemplated by
Section 2.02, exclusive, however, of any provisions or terms which relate
solely to other Series of Securities for which such Person is not Trustee,
regardless of when such terms or provisions were adopted, and exclusive of any
provisions or terms adopted by means of one or more indentures supplemental
hereto executed and delivered after such Person had become Trustee but to which
such Person, as such Trustee, was not a party. 

          “interest” with respect to any Discount
Security which by its terms bears interest only after Maturity, means interest
payable after Maturity. 

          “Legal
Holiday” means a
Saturday, a Sunday or a day on which banking institutions in the City of New
York or in Houston, Texas or at a place of payment are authorized by law,
regulation or executive order to remain closed. If a payment date is a Legal
Holiday at a place of payment, payment may be made at that place on the next
succeeding day that is not a Legal Holiday, and no interest shall accrue on
such payment for the intervening period. 

          “Lien” means, with respect to any asset,
any mortgage, lien, pledge, charge, security interest or encumbrance of any
kind in respect of such asset, whether or not filed, recorded or otherwise
perfected under applicable law, including any conditional sale or other title
retention agreement, any lease in the nature thereof, any option or other
agreement to sell or give a security interest in and any filing of or agreement
to give any financing statement under the Uniform Commercial Code (or
equivalent statutes) of any jurisdiction. 

          “Maturity,” when used with respect to any
Security or installment of principal thereof, means the date on which the
principal of such Security or such installment of principal becomes due and
payable as therein or herein provided, whether at the Stated Maturity or by
declaration of acceleration, call for redemption, notice of option to elect
repayment or otherwise. 

          “Obligations” means any principal, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities payable under
the documentation governing any Indebtedness. 

          “Officer” means, with respect to any Person, the
Chairman of the Board, the Chief Executive Officer, the President, the Chief
Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant
Treasurer, the Controller, the Secretary, any Assistant Secretary or any
Vice-President of such Person. 

          “Officers’
Certificate” means a
certificate signed on behalf of the Company by two Officers of the Company, one
of whom must be the principal executive officer, the principal financial
officer, the 

4

treasurer
or the principal accounting officer of the Company, that meets the requirements
of Sections 12.04 and 12.05 hereof. 

          “Opinion
of Counsel” means an
opinion from legal counsel who is reasonably acceptable to the Trustee, that
meets the requirements of Sections 12.04 and 12.05 hereof. The counsel may be
an employee of or counsel to the Company, any Subsidiary of the Company or the
Trustee. 

          “Person” means any individual, corporation,
partnership, joint venture, association, joint-stock company, trust,
unincorporated organization, limited liability company or government or other
entity.

          “principal” of a Security means the
principal of the Security plus, when appropriate, the premium, if any, on, and
any Additional Amounts in respect of, the Security. 

          “Responsible
Officer,” when used
with respect to the Trustee, means any officer within the Corporate Trust
Office of the Trustee (or any successor group of the Trustee) with direct
responsibility for the administration of this Indenture and, with respect to a
particular corporate trust matter, any other officer to whom such matter is
referred because of his knowledge of and familiarity with the particular
subject. 

          “SEC” means the Securities and Exchange
Commission. 

          “Securities” means the debentures, notes or
other debt instruments of the Company of any Series authenticated and delivered
under this Indenture. 

          “Securities
Act” means the
Securities Act of 1933, as amended. 

          “Security
Guarantee” means the
guarantee of any Series of Securities by a Guarantor under Article 10. 

          “Series” or “Series of Securities” means each series of debentures, notes
or other debt instruments of the Company created pursuant to Sections 2.01 and
2.02 hereof. 

          “Significant
Subsidiary” means any
Subsidiary that would be a “significant subsidiary” as defined in Article 1,
Rule 1–02 of Regulation S–X, promulgated pursuant to the Securities Act, as
such Regulation is in effect on the date of this Indenture. 

          “Stated Maturity” means, with respect to
any installment of interest or principal on any series of Indebtedness, the
date on which such payment of interest or principal was scheduled to be paid in
the original documentation governing such Indebtedness, and shall not include
any contingent obligations to repay, redeem or repurchase any such interest or
principal prior to the date originally scheduled for the payment thereof. 

          “Subsidiary” means, with respect to any
specified Person: 

	
  

 	
  

 
	
  

 	
           (1)     any
 corporation, association or other business entity of which more than 50% of
 the total voting power of shares of Capital Stock entitled (without regard to
 the occurrence of any contingency) to vote in the election of directors,
 managers or trustees of the corporation, association or other business entity
 is at the time owned or controlled, directly or indirectly, by that Person or
 one or more of the other Subsidiaries of that Person (or a combination
 thereof); and 

 

5

	
  

 	
  

 
	
  

 	
           (2)     any
 partnership (a) the sole general partner or the managing general partner of
 which is such Person or a Subsidiary of such Person or (b) the only general
 partners of which are that Person or one or more Subsidiaries of that Person
 (or any combination thereof). 

 

          “TIA” means the Trust Indenture Act of 1939 (15
U.S.C. §§ 77aaa-77bbbb) as in effect on the date on which this Indenture is
qualified under the TIA; provided, however, that in the event the Trust
Indenture Act of 1939 is amended after such date, “TIA” means, to the extent
required by any such amendment, the Trust Indenture Act of 1939 as so amended. 

          “Trustee” means the Person named as the “trustee” in
the first paragraph of this Indenture until a successor Trustee shall have
become such pursuant to the applicable provisions of this Indenture, and
thereafter “Trustee” shall mean or include each Person who is then a Trustee
hereunder; provided, however, that if at any time there is more
than one such Person, “Trustee” as used with respect to the Securities of or
within any Series shall mean only the Trustee with respect to the Securities of
that Series. 

          “U.S.
Legal Tender” means
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. 

          “Voting
Stock” of any Person
as of any date means the Capital Stock of such Person that is at the time
entitled to vote in the election of the board of directors of such Person. 

Section 1.02     Other Definitions

	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Defined
 in

 	
  

 
	
 Term

 	
  

 	
 Section

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
  “Covenant
 Defeasance”

 	
  

 	
  

 	
 8.03

 	
  

 
	
  “Event
 of Default”

 	
  

 	
  

 	
 6.01

 	
  

 
	
  “Legal
 Defeasance”

 	
  

 	
  

 	
 8.02

 	
  

 
	
  “Paying
 Agent”

 	
  

 	
  

 	
 2.04

 	
  

 
	
  “Registrar”

 	
  

 	
  

 	
 2.04

 	
  

 

Section 1.03     Incorporation
by Reference of Trust Indenture Act 

          Whenever
this Indenture refers to a provision of the TIA, the provision is incorporated
by reference in and made a part of this Indenture. 

          The
following TIA terms used in this Indenture have the following meanings:

          “indenture
securities” means the Securities;

          “indenture
security Holder” means a Holder of a Security; 

          “indenture
to be qualified”
means this Indenture; 

          “indenture
trustee” or “institutional trustee” means the Trustee;
and 

          “obligor” on the Securities means the Company and any
successor obligor upon the Securities. 

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

6

Section
1.04     Rules of
Construction

          Unless
the context otherwise requires:

	
  

 	
  

 
	
  

 	
                (1)
           a term has the
 meaning assigned to it;

 
	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

 	
                (3)          
 “or” is not exclusive;

 
	
  

 	
  

 
	
  

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

 
	
  

 	
  

 
	
  

 	
                (5)          
 “will” shall be interpreted to express a command; 

 
	
  

 	
  

 
	
  

 	
                (6)          
 provisions apply to successive events and transactions; and

 
	
  

 	
  

 
	
  

 	
                (7)          
 references to sections of or rules under the Securities Act will be deemed to
 include substitute, replacement of successor sections or rules adopted by the
 SEC from time to time.

 

ARTICLE 2.

THE SECURITIES

Section 2.01     Issuable
in Series

          The
aggregate principal amount of Securities that may be authenticated and
delivered under this Indenture is unlimited. The Securities may be issued in
one or more Series. All Securities of a Series shall be identical except as may
be set forth in the Board Resolution, supplemental indenture or Officers’
Certificate detailing the adoption of the terms thereof pursuant to the
authority granted under a Board Resolution. In the case of Securities of a
Series to be issued from time to time, the Board Resolution, Officers’
Certificate or supplemental indenture may provide for the method by which
specified terms (such as interest rate, maturity date, record date or date from
which interest shall accrue) are to be determined. All Series of Securities
shall be entitled to the benefits of the Indenture, provided that Securities
may differ between Series in respect of any matters as provided by the Board
Resolution, supplemental indenture or Officers’ Certificate detailing the
adoption of the terms thereof pursuant to the authority granted under a Board
Resolution.

Section
2.02     Establishment
of Terms of Series of Securities

          At
or prior to the issuance of any Securities within a Series, the following shall
be established (as to the Series generally, in the case of Subsection 2.02(a)
and either as to such Securities within the Series or as to the Series
generally in the case of Subsections 2.02(b) through 2.02(v)) by a Board
Resolution, a supplemental indenture or an Officers’ Certificate pursuant to
authority granted under a Board Resolution:

          (a)
          the title of the
Series (which shall distinguish the Securities of that particular Series from
the Securities of any other Series);

          (b)
          the price or prices
(expressed as a percentage of the principal amount thereof) at which the
Securities of the Series will be issued;

7

          (c)
          any limit upon the
aggregate principal amount of the Securities of the Series which may be
authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon registration of transfer of, or in exchange
for, or in lieu of, other Securities of the Series pursuant to Section 2.07,
2.08, 2.11, 3.06 or 9.05);

          (d)
          the date or dates
or the method by which such date or dates will be determined on which the
principal of the Securities of the Series is payable;

          (e)
          the rate or rates
(which may be fixed or variable) per annum or, if applicable, the method used
to determine such rate or rates, at which the Securities of the Series shall
bear interest, if any, the date or dates from which such interest, if any,
shall accrue, the date or dates on which such interest, if any, shall commence
and be payable and any regular record date for the interest payable on any
interest payment date and the basis upon which interest shall be calculated if
other than that of a 360-day year consisting of twelve 30-day months;

          (f)
          the place or places
where the principal of and interest, if any, on the Securities of the Series
shall be payable, or the method of such payment, if by wire transfer, mail or
other means;

          (g)
          if applicable, the
period or periods within which, the price or prices at which and the terms and
conditions upon which the Securities of the Series may be redeemed, in whole or
in part, at the option of the Company;

          (h)
          the obligation, if
any, of the Company to redeem or purchase the Securities of the Series pursuant
to any sinking fund or analogous provisions or at the option of a Holder
thereof and the period or periods within which, the price or prices at which
and the terms and conditions upon which Securities of the Series shall be
redeemed or purchased, in whole or in part, pursuant to such obligation;

          (i)          
the dates, if any, on which and the price or prices at which the Securities of
the Series will be repurchased by the Company at the option of the Holders
thereof and other detailed terms and provisions of such repurchase obligations;

          (j)          
if other than denominations of $1,000 and any integral multiple thereof, the
denominations in which the Securities of the Series shall be issuable;

          (k)          the
forms of the Securities of the Series and whether the Securities will be
issuable as Global Securities;

          (l)
          if other than the
principal amount thereof, the portion of the principal amount of the Securities
of the Series that shall be payable upon declaration of acceleration of the
maturity thereof pursuant to Section 6.02;

          (m)
          if other than
United States dollars, the currency of denomination of the Securities of the
Series;

          (n)          
if other than United States dollars, the designation of the currency,
currencies or currency units in which payment of the principal of and interest,
if any, on the Securities of the Series will be made;

          (o)          
if payments of principal of or interest, if any, on the Securities of the
Series are to be made in one or more currencies or currency units other than
that or those in which such Securities are denominated, the manner in which the
exchange rate with respect to such payments will be determined;

8

          (p)          
the manner in which the amounts of payment of principal of or interest, if any,
on the Securities of the Series will be determined, if such amounts may be
determined by reference to an index based on a currency or currencies or by
reference to a commodity, commodity index, stock exchange index or financial
index;

          (q)          
the provisions, if any, relating to any security provided for the Securities of
the Series;

          (r)          
the provisions, if any, relating to any guarantees of the Securities of the
Series;

          (s)          
any addition to or change in the Events of Default which applies to any
Securities of the Series and any change in the right of the Trustee or the
requisite Holders of such Securities to declare the principal amount thereof
due and payable pursuant to Section 6.02;

          (t)          
any addition to or change in the covenants set forth in Articles IV or V which
applies to Securities of the Series;

          (u)          
any other terms of the Securities of the Series (which terms shall not be
inconsistent with the provisions of this Indenture, except as permitted by
Section 9.01, but which may modify or delete any provision of this Indenture
insofar as it applies to such Series); 

          (v)          
any trustees, depositories, interest rate calculation agents, exchange rate
calculation agents or other agents with respect to Securities of such Series if
other than those appointed herein; and

          (w)          
the date as of which any temporary Global Security representing Outstanding
Securities of or within the Series shall be dated if other than the date of
original issuance of the first Security of the Series to be issued;

          (x)          
the applicability, if any, of Sections 8.02 and/or 8.03 to the Securities of or
within the Series and any provisions in modification of, in addition to or in
lieu of any of the provisions of Article Eight;

          (y)          
if the Securities of such Series are to be issuable in definitive form (whether
upon original issue or upon exchange of a temporary Security of such Series)
only upon receipt of certain certificates or other documents or satisfaction of
other conditions, then the form and/or terms of such certificates, documents or
conditions; 

          (z)          
if the Securities of or within the Series are to be issued upon the exercise of
debt warrants, the time, manner and place for such Securities to be
authenticated and delivered; 

          (aa)          
whether and under what circumstances the Company will pay Additional Amounts on
the Securities of or within the Series to any Holder who is not a United States
person (including any modification to the definition of such term) in respect
of any tax, assessment or governmental charge and, if so, whether the Company
will have the option to redeem such Securities rather than pay such Additional
Amounts (and the terms of any such option);

          (bb)          
the obligation, if any, of the Company to permit the Securities of such Series
to be converted into or exchanged for common stock of the Company or other
Securities or property of the Company and the terms and conditions upon which
such conversion or exchange shall be effected (including, without limitation,
the initial conversion or exchange price or rate, the conversion or exchange
period, any adjustment of the applicable conversion or exchange price or rate
and any requirements relative to the reservation of such shares for purposes of
conversion or exchange);

9

          (cc)          
if convertible or exchangeable, any applicable limitations on the ownership or
transferability of the Securities or property into which such Securities are
convertible or exchangeable; and

          (dd)          
the applicability, if any, of Article 10 or the Security Guarantee to the
Securities of or within the Series and any provisions in modification, in
addition to or in lieu of any of the provisions of Article 10 or any Security
Guarantee.

          All Securities of any one
Series need not be issued at the same time and may be issued from time to time,
consistent with the terms of this Indenture, if so provided by or pursuant to
the Board Resolution, supplemental indenture or Officers’ Certificate referred
to above, and the authorized principal amount of any Series may not be
increased to provide for issuances of additional Securities of such Series,
unless otherwise provided in such Board Resolution, supplemental indenture or
Officers’ Certificate. 

Section
2.03     Execution
and Authentication

          An
Officer must sign the Securities for the Company by manual or facsimile
signature. 

          If
an Officer whose signature is on a Security no longer holds that office at the
time a Security is authenticated, the Security will nevertheless be valid.

          A
Security will not be valid until authenticated by the manual signature of the Trustee.
The signature will be conclusive evidence that the Security has been
authenticated under this Indenture.

          The
Trustee shall at any time, and from time to time, authenticate Securities of a
Series for original issue in the principal amount provided in the Board
Resolution, supplemental indenture hereto or Officers’ Certificate described in
Section 2.02 with respect to such Series upon receipt by the Trustee of an
Authentication Order. Such Authentication Order may authorize authentication and
delivery pursuant to oral or electronic instructions from the Company or its
duly authorized agent or agents, which oral instructions shall be promptly
confirmed in writing. Each Security shall be dated the date of its
authentication unless otherwise provided by the Board Resolution, supplemental
indenture hereto or Officers’ Certificate described in Section 2.02 with
respect to such Series.

          The
aggregate principal amount of Securities of any Series outstanding at any time
may not exceed any limit upon the maximum principal amount for such Series set
forth in the Board Resolution, supplemental indenture hereto or Officers’
Certificate delivered pursuant to Section 2.02, except as provided in Section
2.08.

          Prior
to the issuance of Securities of any Series, the Trustee shall have received
and (subject to Section 7.02) shall be fully protected in relying on: (a) the
Board Resolution, supplemental indenture hereto or Officers’ Certificate
establishing the form of the Securities of that Series or of Securities within
that Series and the terms of the Securities of that Series or of Securities
within that Series, (b) an Officers’ Certificate complying with Section 12.04
and stating that all conditions precedent provided for in this Indenture relating
to the authentication and delivery of Securities of such Series have been
complied with, and (c) an Opinion of Counsel complying with Section 12.04 and
stating that all conditions precedent provided for in this Indenture relating
to the authentication and delivery of Securities of such Series have been
complied with.

          The
Trustee shall have the right to decline to authenticate and deliver any
Securities of such Series: (a) if the Trustee, being advised by counsel,
determines that such action may not lawfully be taken; or (b) if the
Trustee in good faith by its board of directors or trustees, executive
committee or a 

10

trust committee of
directors and/or vice-presidents shall determine that such action would expose
the Trustee to personal liability to Holders of any then outstanding Series of
Securities.

          The
Trustee may appoint an authenticating agent acceptable to the Company to
authenticate Securities. An authenticating agent may authenticate Securities
whenever the Trustee may do so. Each reference in this Indenture to
authentication by the Trustee includes authentication by such agent. An
authenticating agent has the same rights as an Agent to deal with Holders or an
Affiliate of the Company.

Section
2.04      Registrar
and Paying Agent 

          The Company will maintain with respect to each
Series of Securities at the place or places specified with respect to such
Series pursuant to Section 2.02 an office or agency where Securities of such
Series may be presented for registration of transfer or for exchange (“Registrar”)
and an office or agency where Securities of such Series may be presented for
payment (“Paying
Agent”). The Registrar will keep a register of the Securities of
such Series and of their transfer and exchange. The Company may appoint one or
more co-registrars and one or more additional paying agents. The term
“Registrar” includes any co-registrar and the term “Paying Agent” includes any
additional paying agent. The Company may change any Paying Agent or Registrar
without notice to any Holder. The Company will notify the Trustee in writing of
the name and address of any Agent not a party to this Indenture. If the Company
fails to appoint or maintain another entity as Registrar or Paying Agent, the
Trustee shall act as such. The Company or any of its Subsidiaries may act as
Paying Agent or Registrar.

          If
at any time the Company shall fail to maintain any such required Registrar,
Paying Agent or Service Agent or shall fail to furnish the Trustee with the
name and address thereof, such presentations, surrenders, notices and demands
may be made or served at the Corporate Trust Office of the Trustee, and the
Company hereby appoints the Trustee as its agent to receive all such
presentations, surrenders, notices and demands.

          The
Company hereby appoints the Trustee as the initial Registrar, Paying Agent and
Service Agent for each Series unless another Registrar, Paying Agent or Service
Agent, as the case may be, is appointed prior to the time Securities of that
Series are first issued.

Section
2.05     Paying
Agent to Hold Money in Trust

          The
Company will require each Paying Agent (other than the Trustee) to agree in
writing that the Paying Agent will hold in trust for the benefit of Holders of
any Series of Securities for which it is acting as Paying Agent, or the
Trustee, all money held by the Paying Agent for the payment of principal,
premium, if any, or interest on such Series of Securities, and will notify the
Trustee of any default by the Company in making any such payment. While any
such default continues, the Trustee may require the Paying Agent to pay all
money held by it to the Trustee. The Company at any time may require a Paying
Agent to pay all money held by it to the Trustee. Upon payment over to the
Trustee, the Paying Agent (if other than the Company or a Subsidiary) will have
no further liability for the money. If the Company or a Subsidiary acts as
Paying Agent, it will segregate and hold in a separate trust fund for the
benefit of the Holders of any Series of Securities for which it acts as Paying
Agent all money held by it as Paying Agent for such Series. Upon any bankruptcy
or reorganization proceedings relating to the Company, the Trustee will serve
as Paying Agent for each Series of Securities.

Section
2.06     Holder
Lists

          The
Trustee will preserve in as current a form as is reasonably practicable the
most recent list available to it of the names and addresses of all Holders of
each Series of Securities and shall otherwise comply with TIA § 312(a). If
the Trustee is not the Registrar, the Company will furnish to the Trustee at 

11

least seven Business Days
before each interest payment date and at such other times as the Trustee may
request in writing, a list in such form and as of such date as the Trustee may
reasonably require of the names and addresses of the Holders of each Series of
Securities and the Company shall otherwise comply with TIA § 312(a).

Section
2.07     Transfer and Exchange

          Where Securities of a Series are presented to the Registrar or a co-registrar
with a request to register a transfer or to exchange them for an equal
principal amount of Securities of the same Series, the Registrar shall register
the transfer or make the exchange if its requirements for such transactions are
met. To permit registrations of transfers and exchanges, the Trustee shall
authenticate Securities at the Registrar’s request. No service charge shall be
made for any registration of transfer or exchange (except as otherwise
expressly permitted herein), but the Company may require payment of a sum
sufficient to cover any transfer tax or similar governmental charge payable in
connection therewith (other than any such transfer tax or similar governmental
charge payable upon exchanges pursuant to Sections 2.11, 3.06 or 9.05).

          Neither
the Company nor the Registrar shall be required (a) to issue, register the
transfer of, or exchange Securities of any Series for the period beginning at
the opening of business fifteen days immediately preceding the mailing of a
notice of redemption of Securities of that Series selected for redemption and
ending at the close of business on the day of such mailing, or (b) to register
the transfer of or exchange Securities of any Series selected, called or being
called for redemption as a whole or the portion being redeemed of any such
Securities selected, called or being called for redemption in part.

Section
2.08     Replacement
Securities

          If
any mutilated Security is surrendered to the Trustee or the Company and the
Trustee receives evidence to its satisfaction of the destruction, loss or theft
of any Security, the Company will issue and the Trustee, upon receipt of an
Authentication Order, will authenticate a replacement Security of the same
Series if the Trustee’s requirements are met. If required by the Trustee or the
Company, an affidavit of loss and indemnity bond must be supplied by the Holder
that is sufficient in the judgment of the Trustee and the Company to protect
the Company, the Trustee, any Agent and any authenticating agent from any loss
that any of them may suffer if a Security is replaced. The Company may charge
for its expenses in replacing a Security.

          Every
replacement Security is an additional obligation of the Company and will be
entitled to all of the benefits of this Indenture equally and proportionately
with all other Securities of the same Series duly issued hereunder.

Section
2.09     Outstanding
Securities

          The
Securities outstanding at any time are all the Securities authenticated by the
Trustee except for those canceled by it, those delivered to it for
cancellation, those reductions in the interest in a Global Security effected by
the Trustee in accordance with the provisions hereof, and those described in
this Section 2.09 as not outstanding. Except as set forth in Section 2.10
hereof, a Security does not cease to be outstanding because the Company or an
Affiliate of the Company holds the Security.

          If
a Security is replaced pursuant to Section 2.08 hereof, it ceases to be
outstanding unless the Trustee receives proof satisfactory to it that the
replaced Security is held by a protected purchaser.

          If
the principal amount of any Security is considered paid under Section 4.01
hereof, it ceases to be outstanding and interest on it ceases to accrue.

12

          If
the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any
thereof) holds, on a redemption date or maturity date, money sufficient to pay
Securities payable on that date, then on and after that date such Securities
will be deemed to be no longer outstanding and will cease to accrue interest.

          In
determining whether the Holders of the requisite principal amount of
outstanding Securities have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, the principal amount of a
Discount Security that shall be deemed to be outstanding for such purposes
shall be the amount of the principal thereof that would be due and payable as
of the date of such determination upon a declaration of acceleration of the
maturity thereof pursuant to Section 6.02. 

Section
2.10     Treasury
Securities

          In determining whether
the Holders of the required principal amount of Securities of a Series have
concurred in any direction, waiver or consent, Securities of such Series owned
by the Company, or by any Person directly or indirectly controlling or
controlled by or under direct or indirect common control with the Company, will
be considered as though not outstanding, except that for the purposes of
determining whether the Trustee will be protected in relying on any such
direction, waiver or consent, only Securities of such Series that the Trustee
knows are so owned will be so disregarded.

Section
2.11     Temporary Securities

          Until
certificates representing Securities are ready for delivery, the Company may
prepare and the Trustee, upon receipt of an Authentication Order, will
authenticate temporary Securities. Temporary Securities will be substantially
in the form of certificated Securities but may have variations that the Company
considers appropriate for temporary Securities and as may be reasonably
acceptable to the Trustee. Without unreasonable delay, the Company will prepare
and the Trustee will authenticate definitive Securities of the same Series and
date of maturity in exchange for temporary Securities. After preparation of
such definitive Securities, the temporary Securities will be exchangeable for
such definitive Securities upon surrender of the temporary Securities.

          Holders
of temporary Securities will be entitled to all of the benefits of this
Indenture.

Section
2.12     Cancellation

          The
Company at any time may deliver Securities to the Trustee for cancellation. The
Registrar and Paying Agent will forward to the Trustee any Securities
surrendered to them for registration of transfer, exchange or payment. The
Trustee and no one else will cancel all Securities surrendered for registration
of transfer, exchange, payment, replacement or cancellation and will destroy
canceled Securities (subject to the record retention requirements of the
Exchange Act). Certification of the destruction of all canceled Securities will
be delivered to the Company. The Company may not issue new Securities to
replace Securities that it has paid or that have been delivered to the Trustee
for cancellation.

Section
2.13     Defaulted
Interest

          If
the Company defaults in a payment of interest on the Securities of a Series, it
will pay the defaulted interest in any lawful manner plus, to the extent
lawful, interest payable on the defaulted interest, to the Persons who are
Holders of the Securities of such Series on a subsequent special record date,
in each case at the rate provided in such Series of Securities and in Section
4.01 hereof. The Company will notify the Trustee in writing of the amount of
defaulted interest proposed to be paid on each Security of such Series and the
date of the proposed payment. The Company will fix or cause to be

13

fixed each
such special record date and payment date, provided that no such special record date
may be less than 10 days prior to the related payment date for such defaulted
interest. At least 15 days before the special record date, the Company (or,
upon the written request of the Company, the Trustee in the name and at the
expense of the Company) will mail or cause to be mailed to Holders of
Securities of such Series a notice that states the special record date, the
related payment date and the amount of such interest to be paid.

Section
2.14          Global Securities

          (a)
          Terms of
Securities. The Board Resolution, supplemental indenture hereto or
Officers’ Certificate described in Section 2.02 with respect to a Series shall
establish whether the Securities of a Series shall be issued in whole or in
part in the form of one or more Global Securities and the Depositary for such
Global Security or Securities. 

          (b)
          Transfer and
Exchange. Notwithstanding any provisions to the contrary contained in
Section 2.07 of the Indenture and in addition thereto, any Global Security
shall be exchangeable pursuant to Section 2.07 of the Indenture for Securities
of the Series with respect to which such Global Security was issued registered in
the names of Holders other than the Depositary for such Security or its nominee
only if (i) such Depositary notifies the Company that it is unwilling or unable
to continue as Depositary for such Global Security or if at any time such
Depositary ceases to be a clearing agency registered under the Exchange Act,
and, in either case, the Company fails to appoint a successor Depositary within
90 days of such event, (ii) the Company executes and delivers to the Trustee an
Officers’ Certificate to the effect that such Global Security shall be so
exchangeable or (iii) an Event of Default with respect to the Securities
represented by such Global Security shall have happened and be continuing. Any
Global Security that is exchangeable pursuant to the preceding sentence shall
be exchangeable for Securities registered in such names as the Depositary shall
direct in writing in an aggregate principal amount equal to the principal
amount of the Global Security with like tenor and terms.

          Except
as provided in this Section 2.14(b), a Global Security may not be transferred
except as a whole by the Depositary with respect to such Global Security to a
nominee of such Depositary, by a nominee of such Depositary to such Depositary
or another nominee of such Depositary or by the Depositary or any such nominee
to a successor Depositary or a nominee of such a successor Depositary.

          (c)
          Legend. Any
Global Security issued hereunder shall bear a legend in substantially the
following form:

	
  

 	
  

 	
  

 
	
  

 	
 “This Security is a
 Global Security within the meaning of the Indenture hereinafter referred to
 and is registered in the name of the Depositary or a nominee of the
 Depositary. This Security is exchangeable for Securities registered in the
 name of a person other than the Depositary or its nominee only in the limited
 circumstances described in the Indenture, and may not be transferred except
 as a whole by the Depositary to a nominee of the Depositary, by a nominee of
 the Depositary to the Depositary or another nominee of the Depositary or by
 the Depositary or any such nominee to a successor Depositary or a nominee of
 such a successor Depositary.”

 	
  

 

          (d)
          Acts of Holders.
The Depositary, as a Holder, may appoint agents and otherwise authorize
participants to give or take any request, demand, authorization, direction,
notice, consent, waiver or other action which a Holder is entitled to give or
take under the Indenture.

14

          (e)
          Payments.
Notwithstanding the other provisions of this Indenture, unless otherwise
specified as contemplated by Section 2.02, payment of the principal of and
interest, if any, on any Global Security shall be made to the Holder thereof.

          (f)
          Consents,
Declaration and Directions. Except as provided in Section 2.14(e), the
Company, the Trustee and any Agent shall treat a person as the Holder of such
principal amount of outstanding Securities of such Series represented by a
Global Security as shall be specified in a written statement of the Depositary with
respect to such Global Security, for purposes of obtaining any consents,
declarations, waivers or directions required to be given by the Holders
pursuant to this Indenture.

Section
2.15     CUSIP
Numbers

          The
Company in issuing the Securities may use “CUSIP” numbers (if then generally in
use), and, if so, the Trustee shall use “CUSIP” numbers in notices of
redemption as a convenience to Holders; provided
that any such notice may state that no representation is made as to
the correctness of such numbers either as printed on the Securities or as
contained in any notice of a redemption and that reliance may be placed only on
the other elements of identification printed on the Securities, and any such
redemption shall not be affected by any defect in or omission of such numbers.

ARTICLE 3.

REDEMPTION AND PREPAYMENT

Section
3.01     Notices to
Trustee

          The
Company may, with respect to any Series of Securities, reserve the right to
redeem and pay the Series of Securities or may covenant to redeem and pay the
Series of Securities or any part thereof prior to the Stated Maturity thereof
at such time and on such terms as provided for in such Securities or in the
Board Resolution, supplemental indenture or Officer’s Certificate described in
Section 2.02 with respect to such Series. If a Series of Securities is
redeemable and the Company wants or is obligated to redeem prior to the Stated
Maturity thereof all or part of the Series of Securities pursuant to the terms
of such Securities, it must furnish to the Trustee, at least 45 days but not
more than 60 days before a redemption date, an Officers’ Certificate setting
forth:

	
  

 	
  

 
	
  

 	
                (1)
           the term of the
 applicable Series of Securities pursuant to which the redemption shall occur;

 
	
  

 	
  

 
	
  

 	
                (2)
           the redemption
 date;

 
	
  

 	
  

 
	
  

 	
                (3)
           the principal
 amount of Securities of such Series to be redeemed; and 

 
	
  

 	
  

 
	
  

 	
                (4)
           the redemption
 price.

 

Section
3.02     Selection
of Securities to Be Redeemed or Purchased

          Unless
otherwise indicated for a particular Series by a Board Resolution, a
supplemental indenture or an Officers’ Certificate, if less than all of the
Securities of a Series are to be redeemed or purchased in an offer to purchase
at any time, the Trustee will select Securities of such Series for redemption
or purchase as follows:

15

	
  

 	
  

 
	
  

 	
                (1)          
 if the Securities of such Series are listed on any national securities
 exchange, in compliance with the requirements of the principal national
 securities exchange on which the Securities of such Series are listed; or 

 
	
  

 	
  

 
	
  

 	
                (2)
           if the Securities
 of such Series are not listed on any national securities exchange, on a pro rata
 basis (based on amounts tendered), by lot or by such method as the Trustee
 shall deem fair and appropriate.

 

          In
the event of partial redemption or purchase by lot, the Securities of a Series
to be redeemed or purchased will be selected, unless otherwise provided herein,
not less than 30 nor more than 60 days prior to the redemption or purchase date
by the Trustee from the outstanding Securities of such Series not previously
called for redemption or purchase.

          The
Trustee will promptly notify the Company in writing of the Securities selected
for redemption or purchase and, in the case of any Security selected for
partial redemption or purchase, the principal amount thereof to be redeemed or
purchased. Securities and portions of Securities selected will be in amounts of
the minimum authorized denomination for Securities of that Series or integral
multiples thereof; except that if all of the Series of Securities of a Holder
are to be redeemed or purchased, the entire outstanding amount of such Securities
held by such Holder, even if not an integral multiple of the minimum authorized
denomination, shall be redeemed or purchased. Except as provided in the
preceding sentence, provisions of this Indenture that apply to Securities
called for redemption or purchase also apply to portions of Securities called
for redemption or purchase.

Section
3.03     Notice of
Redemption

          Unless
otherwise indicated for a particular Series of Securities by a Board
Resolution, a supplemental indenture or an Officers’ Certificate, at least 30
days but not more than 60 days before a redemption date, the Company will mail
or cause to be mailed, by first class mail, a notice of redemption to each
Holder whose Securities are to be redeemed at its registered address, except that
redemption notices may be mailed more than 60 days prior to a redemption date
if the notice is issued in connection with a defeasance of the Securities or a
satisfaction and discharge of such Securities and this Indenture pursuant to
Articles 8 or 11 of this Indenture.

          The
notice will identify the Securities of the Series to be redeemed and will
state:

	
  

 	
  

 
	
  

 	
                (1)          
 the redemption date;

 
	
  

 	
  

 
	
  

 	
                (2)
           the redemption
 price;

 
	
  

 	
  

 
	
  

 	
                (3)          
 if any Security of the Series is being redeemed in part, the portion of the
 principal amount of such Security to be redeemed and that, after the
 redemption date upon surrender of such Security, a new Security or Securities
 in principal amount equal to the unredeemed portion will be issued upon
 cancellation of the original Security;

 
	
  

 	
  

 
	
  

 	
                (4)
           the name and
 address of the Paying Agent;

 
	
  

 	
  

 
	
  

 	
                (5)          
 that Securities of the Series called for redemption must be surrendered to
 the Paying Agent to collect the redemption price;

 

16

	
  

 	
  

 
	
  

 	
                (6)          
 that, unless the Company defaults in making such redemption payment, interest
 on Securities of the Series called for redemption ceases to accrue on and
 after the redemption date;

 
	
  

 	
  

 
	
  

 	
                (7)          
 the Section of the Securities of the Series and/or Section of this Indenture
 applicable to such Series pursuant to which the Securities of the Series
 called for redemption are being redeemed; and

 
	
  

 	
  

 
	
  

 	
                (8)          
 that no representation is made as to the correctness or accuracy of the CUSIP
 number, if any, listed in such notice or printed on the Securities of the
 Series.

 

          At
the Company’s request, the Trustee will give the notice of redemption in the
Company’s name and at its expense; provided, however, that the Company has
delivered to the Trustee, at least 45 days prior to the redemption date, an
Officers’ Certificate requesting that the Trustee give such notice and setting
forth the information to be stated in such notice as provided in the preceding
paragraph.

Section
3.04     Effect of
Notice of Redemption

          Once
notice of redemption is mailed in accordance with Section 3.03 hereof,
Securities of a Series called for redemption become irrevocably due and payable
on the redemption date at the redemption price. A notice of redemption may not
be conditional.

Section
3.05     Deposit of
Redemption or Purchase Price

          Prior
to 10:00 a.m. New York City time on the relevant redemption or purchase date,
the Company will deposit with the Trustee or with the Paying Agent money
sufficient to pay the redemption or purchase price of and accrued interest, if
any, on all Securities to be redeemed or purchased on that date. The Trustee or
the Paying Agent will promptly return to the Company any money deposited with
the Trustee or the Paying Agent by the Company in excess of the amounts
necessary to pay the redemption or purchase price of, and accrued interest, if
any, on, all Securities to be redeemed or purchased.

          If
the Company complies with the provisions of the preceding paragraph, on and
after the redemption or purchase date, interest will cease to accrue on the
Securities or the portions of Securities called for redemption or purchase. If
a Security is redeemed or purchased on or after an interest record date but on
or prior to the related interest payment date, then any accrued and unpaid
interest shall be paid to the Person in whose name such Security was registered
at the close of business on such record date. If any Security called for
redemption or purchase is not so paid upon surrender for redemption or purchase
because of the failure of the Company to comply with the preceding paragraph,
interest shall be paid on the unpaid principal, from the redemption or purchase
date until such principal is paid, and to the extent lawful on any interest not
paid on such unpaid principal, in each case at the rate provided in the
Securities and in Section 4.01 hereof.

Section
3.06     Securities
Redeemed or Purchased in Part

          Upon
surrender of a Security that is redeemed or purchased in part, the Company will
issue and, upon receipt of an Authentication Order, the Trustee will
authenticate for the Holder at the expense of the Company a new Security of the
same Series equal in principal amount to the unredeemed or unpurchased portion
of the Security surrendered.

17

ARTICLE 4.

COVENANTS

Section
4.01     Payment of
Securities

          The
Company will pay or cause to be paid the principal of, premium, if any, and
interest, on each Series of Securities on the dates and in the manner provided
for the Securities of such Series by the Board Resolution, supplemental
indenture or Officer’s Certificate establishing the terms of such Series.
Principal, premium, if any, and interest will be considered paid on the date
due if the Paying Agent, if other than the Company or a Subsidiary thereof,
holds as of 10:00 a.m. Eastern Time on the due date money deposited by the
Company in immediately available funds in U.S. Legal Tender and designated for
and sufficient to pay all principal, premium, if any, and interest then due. If
the Company or Subsidiary is acting as Paying Agent, the Company shall, prior
to 10:00 a.m. New York City time on the due date, segregate and hold in trust
U.S. Legal Tender sufficient to make payments of principal, premium and
interest due on such date.

          Unless
otherwise indicated for a Series of Securities in the Board Resolution,
supplemental indenture or Officer’s Certificate described in Section 2.02, the
Company will pay interest (including post-petition interest in any proceeding
under any Bankruptcy Law) on overdue principal, and on overdue installments of
interest (without regard to any applicable grace period), at the rate equal to
1% per annum in excess of the then applicable interest rate on each Series of
Securities to the extent lawful. Notwithstanding anything to the contrary
contained in this Indenture, the Company may, to the extent it is required to
do so by law, deduct or withhold income or other similar taxes imposed by the
United States of America from principal or interest payments hereunder.

Section
4.02     Maintenance
of Office or Agency

          The
Company will maintain in the Borough of Manhattan, the City of New York, an
office or agency (which may be an office of the Trustee, being [_____________],
located at [_____________], or an affiliate of the Trustee, Registrar or
co-registrar) where Securities of each Series may be surrendered for
registration of transfer or for exchange and where notices and demands to or
upon the Company in respect of Securities of each Series and this Indenture may
be served. The Company will give prompt written notice to the Trustee of the
location, and any change in the location, of such office or agency. If at any
time the Company fails to maintain any such required office or agency or fails
to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust
Office of the Trustee.

          The
Company may also from time to time designate one or more other offices or
agencies where the Securities of each Series may be presented or surrendered
for any or all such purposes and may from time to time rescind such
designations; provided, however, that no such designation or rescission
will in any manner relieve the Company of its obligation to maintain an office
or agency in the Borough of Manhattan, the City of New York for such purposes.
The Company will give prompt written notice to the Trustee of any such
designation or rescission and of any change in the location of any such other
office or agency.

          The
Company hereby designates the Corporate Trust Office of the Trustee as one such
office or agency of the Company in accordance with Section 2.04 hereof.

Section
4.03     Reports(a)     Whether or not required by the rules and
regulations of the SEC, so long as Securities of any Series are outstanding,
the Company will file a copy of all of the information and 

18

reports referred to in
clauses (1) and (2) below with the SEC for public availability within the time
periods specified in the SEC’s rules and regulations:

	
  

 	
  

 
	
  

 	
                (1)
           all quarterly and
 annual financial information that would be required to be contained in a
 filing with the SEC on Forms 10-Q and 10-K if the Company were required to
 file such forms, and, with respect to the annual information only, a report
 thereon by the Company’s certified independent accountants; and

 
	
  

 	
  

 
	
  

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

 

If the SEC will not
accept a filing referred to above, then the Company will furnish such
information and reports to the Trustee and Holders within 15 days of the time
periods specified in the SEC’s rules and regulations, and make such information
available to prospective investors upon request. The Company will at all times
comply with TIA § 314(a).

          (b)
          The Trustee shall
not be under a duty to review or evaluate any report or information delivered
to the Trustee pursuant to the provisions of this Section 4.03 for the purposes
of making such reports available to it and to the Holders of Securities of any
Series who may request such information. Delivery of such reports, information
and documents to the Trustee as may be required under this Section 4.03 is for
informational purposes only and the Trustee’s receipt of such shall not
constitute constructive notice of any information contained therein or
determinable from information contained therein, including the Company’s
compliance with any of its covenants hereunder (as to which the Trustee is entitled
to rely exclusively on Officers’ Certificates).

Section
4.04     Compliance
Certificate

          (a)
          The Company shall
deliver to the Trustee, within 90 days after the end of each fiscal year, an
Officers’ Certificate stating that a review of the activities of the Company
and its Subsidiaries during the preceding fiscal year has been made under the
supervision of the signing Officers with a view to determining whether the
Company has kept, observed, performed and fulfilled its obligations under this
Indenture and further stating, as to each such Officer signing such
certificate, that to his or her knowledge after due inquiry the Company has
kept, observed, performed and fulfilled each and every covenant contained in
this Indenture and is not in default in the performance or observance of any of
the terms, provisions and conditions of this Indenture (or, if a Default or
Event of Default has occurred, describing all such Defaults or Events of
Default of which he or she may have knowledge and what action the Company is
taking or proposes to take with respect thereto) and that to his or her
knowledge after due inquiry no event has occurred and remains in existence by
reason of which payments on account of the principal of or interest, if any, on
the Securities of any Series is prohibited or if such event has occurred, a
description of the event and what action the Company is taking or proposes to
take with respect thereto.

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

Section
4.05     Taxes

          The
Company will pay, and will cause each of its Subsidiaries to pay, prior to
delinquency, all material taxes, assessments, and governmental levies except
such as are contested in good faith and by 

19

appropriate proceedings
or where the failure to effect such payment is not adverse in any material
respect to the Holders of the Securities of any Series. 

Section
4.06     Stay,
Extension and Usury Laws

          The
Company covenants (to the extent that it may lawfully do so) that it will not
at any time insist upon, plead, or in any manner whatsoever claim or take the
benefit or advantage of, any stay, extension or usury law wherever enacted, now
or at any time hereafter in force, that may affect the covenants or the
performance of this Indenture; and the Company (to the extent that it may
lawfully do so) hereby expressly waives all benefit or advantage of any such
law, and covenants that it will not, by resort to any such law, hinder, delay
or impede the execution of any power herein granted to the Trustee, but will
suffer and permit the execution of every such power as though no such law has
been enacted.

Section
4.07     Corporate
Existence

          Subject
to Article 5 hereof, the Company shall do or cause to be done all things
necessary to preserve and keep in full force and effect:

	
  

 	
  

 
	
  

 	
                (1)          
 its corporate existence, and the corporate, partnership or other existence of
 each of its Subsidiaries, in accordance with the respective organizational
 documents (as the same may be amended from time to time) of the Company or
 any such Subsidiary; and 

 
	
  

 	
  

 
	
  

 	
                (2)          
 the rights (charter and statutory), licenses and franchises of the Company
 and its Subsidiaries; provided, however, that the Company
 shall not be required to preserve any such right, license or franchise, or
 the corporate, partnership or other existence of any of its Subsidiaries, if
 the Board of Directors shall determine that the preservation thereof is no
 longer desirable in the conduct of the business of the Company and its
 Subsidiaries, taken as a whole, and that the loss thereof is not adverse in
 any material respect to the Holders of the Securities of any Series. 

 

ARTICLE 5.

SUCCESSORS

Section
5.01     Merger,
Consolidation, or Sale of Assets

          The
Company shall not consolidate with or merge into, or convey, transfer or lease
all or substantially all of its properties and assets to, any Person (a “Successor
Person”), and may not permit any Person to merge into, or convey,
transfer or lease its properties and assets substantially as an entirety to,
the Company, unless:

	
  

 	
  

 
	
  

 	
                (1)          
 the Successor Person (if any) is a corporation, partnership, trust or other
 entity organized and validly existing under the laws of any U.S. domestic
 jurisdiction and expressly assumes the Company’s obligations on the
 Securities and under this Indenture and

 
	
  

 	
  

 
	
  

 	
                (2)          
 immediately after giving effect to the transaction, no Default or Event of
 Default, shall have occurred and be continuing.

 

          The
Company shall deliver to the Trustee prior to the consummation of the proposed
transaction an Officers’ Certificate to the foregoing effect and an Opinion of
Counsel stating that the proposed transaction and such supplemental indenture
comply with this Indenture.

20

Section
5.02     Successor Person
Substituted

          Upon
any consolidation or merger, or any sale, assignment, transfer, lease,
conveyance or other disposition of all or substantially all of the assets of
the Company in a transaction that is subject to, and that complies with the
provisions of, Section 5.01 hereof, the Successor Person formed by such
consolidation or into or with which the Company is merged or to which such
sale, assignment, transfer, lease, conveyance or other disposition is made shall
succeed to, and be substituted for (so that from and after the date of such
consolidation, merger, sale, lease, conveyance or other disposition, the
provisions of this Indenture referring to the “Company” shall refer instead to
the Successor Person and not to the Company), and may exercise every right and
power of the Company under this Indenture with the same effect as if such
Successor Person had been named as the Company herein; provided, however, that the predecessor
Company shall not be relieved from the obligation to pay the principal of and
interest on the Securities except in the case of a sale of all of the Company’s
assets in a transaction that is subject to, and that complies with the
provisions of, Section 5.01 hereof. 

ARTICLE
6.

DEFAULTS AND REMEDIES

Section
6.01     Events of Default

          “Event of Default,” wherever used herein
with respect to Securities of any Series, means any one of the following
events, subject to any modifications, deletions or additions relating to any
Series of Securities, as provided in the establishing Board Resolution,
supplemental indenture or Officers’ Certificate for such Series:

	
  

 	
  

 	
  

 
	
  

 	
                (1)          the
 Company defaults for 30 days in the payment when due of interest on, any
 Security of that Series;

 
	
  

 	
  

 
	
  

 	
                (2)          the
 Company defaults in the payment when due (at Maturity) of the principal of,
 or premium, if any, on any Security of that Series;

 
	
  

 	
  

 
	
  

 	
                (3)          the
 Company fails to observe or perform any other covenant, representation,
 warranty or other agreement in this Indenture (other than a covenant or
 warranty that has been included in this Indenture solely for the benefit of
 Series of Securities other than that Series) or the Securities of that Series
 for 60 consecutive days after notice to the Company by the Trustee or the
 Holders of Securities of that Series of at least 25% in aggregate principal
 amount of such Securities then outstanding voting as a single class;

 
	
  

 	
  

 
	
  

 	
                (4)          a
 default occurs under any mortgage, indenture or instrument under which there
 may be issued or by which there may be secured or evidenced any Indebtedness
 for money borrowed by the Company or any of its Subsidiaries (or the payment
 of which is guaranteed by the Company or any of its Subsidiaries), whether
 such Indebtedness or guarantee now exists, or is created after the date of
 this Indenture, if that default:

 
	
  

 	
  

 
	
  

 	
  

 	
                (A)          is
 caused by a failure to pay principal of, or interest or premium, if any, on such
 Indebtedness prior to the expiration of the grace period provided in such
 Indebtedness on the date of such default (a “Payment
 Default”); or 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
                (B)          results
 in the acceleration of such Indebtedness prior to its express maturity,

 

21

	
  

 	
  

 	
  

 
	
  

 	
and, in each case, the
principal amount of any such Indebtedness, together with the principal amount
of any other such Indebtedness under which there has been a Payment Default or
the maturity of which has been so accelerated, aggregates $25.0 million or
more;

 
	
  

 	
  

 	
  

 
	
  

 	
               (5)          the
Company or any Subsidiary that is a Significant Subsidiary or any group of
Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary
pursuant to or within the meaning of Bankruptcy Law:

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
                (A)          commences
 a voluntary case,

 
	
  

 	
  

 	
  

 
	
  

 	
  

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

 
	
  

 	
  

 	
  

 
	
  

 	
  

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

 
	
  

 	
  

 	
  

 
	
  

 	
  

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

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
                (E)          generally
 is not paying its debts as they become due; or

 
	
  

 	
  

 	
  

 
	
  

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

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
                (A)          is
 for relief against the Company or any of its Significant Subsidiaries or any
 group of Subsidiaries that, taken as a whole, would constitute a Significant
 Subsidiary in an involuntary case;

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
                (B)          appoints
 a custodian of the Company or any of its Significant Subsidiaries or any
 group of Subsidiaries that, taken as a whole, would constitute a Significant
 Subsidiary or for all or substantially all of the property of the Company or
 any of its Significant Subsidiaries or any group of Subsidiaries that, taken
 as a whole, would constitute a Significant Subsidiary; or

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
                (C)          orders
 the liquidation of the Company or any of its Significant Subsidiaries or any
 group of Subsidiaries that, taken as a whole, would constitute a Significant
 Subsidiary;

 
	
  

 	
  

 	
  

 
	
  

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

 
	
  

 	
  

 	
  

 
	
  

 	
                (7)          any
 other Event of Default with respect to Securities of that Series, which is
 specified in a Board Resolution, a supplemental indenture hereto or an
 Officers’ Certificate, in accordance with Section 2.02(s).

 

Section
6.02     Acceleration

            In
the case of an Event of Default with respect to Securities of any Series at the
time outstanding specified in clause (5) or (6) of Section 6.01 hereof, with respect to
the Company, any Subsidiary that is a Significant Subsidiary or any group of
Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary,
all outstanding Securities of such Series shall become due and payable
immediately without further action or notice. If any other Event of Default
with respect to Securities of any Series at the time outstanding occurs and is
continuing, the Trustee or the Holders of at least 25% in principal amount of
the 

22

then outstanding
Securities of such Series may declare all the Securities of such Series to be
due and payable immediately.

          Upon
any such declaration, the Securities of such Series shall become due and
payable immediately. The Holders of a majority in aggregate principal amount of
the then outstanding Securities of such Series by written notice to the Trustee
may on behalf of all of the Holders of Securities of such Series rescind an
acceleration and its consequences if the rescission would not conflict with any
judgment or decree and if all existing Events of Default with respect to
Securities of such Series (except nonpayment of principal, interest or premium
that has become due solely because of the acceleration) have been cured or
waived.

Section
6.03     Other Remedies

          If
an Event of Default with respect to Securities of any Series occurs and is
continuing, the Trustee may pursue any available remedy to collect the payment
of principal, premium, if any, and interest on the Securities of such Series or
to enforce the performance of any provision of the Securities of such Series or
this Indenture.

          The
Trustee may maintain a proceeding even if it does not possess any of the
Securities of such Series or does not produce any of them in the proceeding. A
delay or omission by the Trustee or any Holder of a Security of any Series in
exercising any right or remedy accruing upon an Event of Default with respect
to Securities of such Series shall not impair the right or remedy or constitute
a waiver of or acquiescence in such Event of Default. All remedies are
cumulative to the extent permitted by law.

Section
6.04     Waiver of Past Defaults

          Holders
of not less than a majority in aggregate principal amount of the then
outstanding Securities of a Series by notice to the Trustee may on behalf of
the Holders of all of the Securities of such Series waive an existing Default
or Event of Default with respect to such Series and its consequences hereunder,
except a continuing Default or Event of Default in the payment of the principal
of, premium, if any, or interest on, the Securities of such Series (including in
connection with any offer to purchase); provided,
however, that the Holders of a majority in aggregate principal
amount of the then outstanding Securities of such Series may rescind an
acceleration and its consequences, including any related payment default that
resulted from such acceleration. Upon any such waiver, such Default shall cease
to exist, and any Event of Default arising therefrom shall be deemed to have
been cured for every purpose of this Indenture; but no such waiver shall extend
to any subsequent or other Default or impair any right consequent thereon.

Section
6.05     Control by Majority

          Holders
of a majority in principal amount of the then outstanding Securities of a
Series may direct the time, method and place of conducting any proceeding for
exercising any remedy available to the Trustee or exercising any trust or power
conferred on it with respect to the Securities of such Series. However, the
Trustee may refuse to follow any direction that conflicts with law or this
Indenture that the Trustee determines may be unduly prejudicial to the rights
of other Holders of Securities of such Series or that may involve the Trustee
in personal liability. The Trustee shall be entitled to take any other action
deemed proper by the Trustee which is not inconsistent with such direction or
this Indenture.

23

Section
6.06     Limitation on Suits

          A
Holder of a Security of any Series may pursue a remedy with respect to this
Indenture or the Securities of that Series only if:

	
  

 	
  

 
	
  

 	
                (1)          such
 Holder of a Security of that Series has previously given to the Trustee
 written notice of a continuing Event of Default with respect to Securities of
 that Series;

 
	
  

 	
  

 
	
  

 	
                (2)          the
 Holders of at least 25% in principal amount of the then outstanding
 Securities of that Series make a written request to the Trustee to pursue the
 remedy;

 
	
  

 	
  

 
	
  

 	
                (3)          such
 Holder of a Security of that Series or Holders of Securities of that Series
 offer and, if requested, provide to the Trustee indemnity satisfactory to the
 Trustee against any loss, liability or expense;

 
	
  

 	
  

 
	
  

 	
                (4)          the
 Trustee does not comply with the request within 60 days after receipt of the
 request and the offer and, if requested, the provision of indemnity; and

 
	
  

 	
  

 
	
  

 	
                (5)          during
 such 60-day period the Holders of a majority in principal amount of the then
 outstanding Securities of that Series do not give the Trustee a written
 direction inconsistent with the request.

 

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

Section
6.07     Rights of Holders of Securities
to Receive Payment

          Notwithstanding
any other provision of this Indenture, the right of any Holder of a Security of
any Series to receive payment of principal, premium, if any, and interest on a
Security of that Series, on or after the respective due dates expressed in the
Security of that Series (including in connection with an offer to purchase), or
to bring suit for the enforcement of any such payment on or after such
respective dates, shall not be impaired or affected without the consent of such
Holder.

Section
6.08     Collection Suit by Trustee

          If
an Event of Default with respect to Securities of any Series specified in
Section 6.01(1) or (2) occurs and is continuing, the Trustee is authorized to
recover judgment in its own name and as trustee of an express trust against the
Company for the whole amount of principal of, premium, if any, and interest
remaining unpaid on the Securities of that Series and interest on overdue
principal and, to the extent lawful, interest and such further amount as shall
be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel.

Section
6.09     Trustee May File Proofs of Claim

          The
Trustee is authorized to file such proofs of claim and other papers or
documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel) and the
Holders of the Securities of any Series allowed in any judicial proceedings
relative to the Company (or any other obligor upon the Securities of any
Series), its creditors or its property and shall be entitled and 

24

empowered to collect,
receive and distribute any money or other property payable or deliverable on
any such claims and any custodian in any such judicial proceeding is hereby
authorized by each Holder to make such payments to the Trustee, and in the
event that the Trustee shall consent to the making of such payments directly to
the Holders, to pay to the Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 7.07 hereof.
To the extent that the payment of any such compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any
other amounts due the Trustee under Section 7.07 hereof out of the estate in
any such proceeding, shall be denied for any reason, payment of the same shall
be secured by a Lien on, and shall be paid out of, any and all distributions,
dividends, money, securities and other properties that the Holders may be
entitled to receive in such proceeding whether in liquidation or under any plan
of reorganization or arrangement or otherwise. Nothing herein contained shall
be deemed to authorize the Trustee to authorize or consent to or accept or
adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities of any Series or the rights
of any Holder, or to authorize the Trustee to vote in respect of the claim of
any Holder in any such proceeding.

Section
6.10     Priorities

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

	
  

 	
  

 
	
  

 	
               First:           to
 the Trustee, its agents and attorneys for amounts due under Section 7.07
 hereof, including payment of all compensation, expense and liabilities
 incurred, and all advances made, by the Trustee and the costs and expenses of
 collection;

 
	
  

 	
  

 
	
  

 	
               Second:       to
 Holders of Securities in respect of which or for the benefit of which such
 money has been collected for amounts due and unpaid on such Securities for
 principal, premium, if any, and interest, ratably, without preference or
 priority of any kind, according to the amounts due and payable on such
 Securities for principal, premium, if any and interest, respectively; and

 
	
  

 	
  

 
	
  

 	
               Third:         to
 the Company or to such party as a court of competent jurisdiction shall
 direct.

 

          The
Trustee may fix a record date and payment date for any payment to Holders of
Securities pursuant to this Section 6.10.

Section
6.11     Undertaking for Costs

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

25

ARTICLE 7.
TRUSTEE

Section 7.01     Duties of Trustee

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

          (b)          Except
during the continuance of an Event of Default with respect to any Series of
Securities:

	
  

 	
  

 
	
  

 	
                (1)          the
 duties of the Trustee will be determined solely by the express provisions of
 this Indenture and the Trustee need perform only those duties that are
 specifically set forth in this Indenture and no others, and no implied
 covenants or obligations shall be read into this Indenture against the
 Trustee; and

 
	
  

 	
  

 
	
  

 	
                (2)          in
 the absence of bad faith on its part, the Trustee may conclusively rely, as
 to the truth of the statements and the correctness of the opinions expressed
 therein, upon certificates or opinions furnished to the Trustee and
 conforming to the requirements of this Indenture. However, in the case of any such certificates or opinions which
 by any provisions hereof are specifically required to be furnished to the
 Trustee, the Trustee will examine the certificates and opinions to determine
 whether or not they conform to the requirements of this Indenture.

 

          (c)          The
Trustee may not be relieved from liabilities for its own negligent action, its
own negligent failure to act, or its own willful misconduct, except that:

	
  

 	
  

 
	
  

 	
                (1)          this
 paragraph does not limit the effect of paragraph (b) of this Section 7.01;

 
	
  

 	
  

 
	
  

 	
                (2)          the
 Trustee will not be liable for any error of judgment made in good faith by a
 Responsible Officer, unless it is proved that the Trustee was negligent in
 ascertaining the pertinent facts; and

 
	
  

 	
  

 
	
  

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

 

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

          (e)          No
provision of this Indenture will require the Trustee to expend or risk its own
funds or incur any liability. The Trustee
will be under no obligation to exercise any of its rights and powers under this
Indenture at the request of any Holders of a Series of Securities, unless such
Holders have offered to the Trustee security and indemnity reasonably
satisfactory to it against any loss, liability or expense.

          (f)          The
Trustee will not be liable for interest on any money received by it except as
the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other
funds except to the extent required by law.

26

Section 7.02     Rights of Trustee

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

          (b)          Before
the Trustee acts or refrains from acting, it may require an Officers’
Certificate or an Opinion of Counsel or both.
The Trustee will not be liable for any action it takes or omits to take
in good faith in reliance on such Officers’ Certificate or Opinion of
Counsel. The Trustee may consult with
counsel and the written advice of such counsel or any Opinion of Counsel will
be full and complete authorization and protection from liability in respect of
any action taken, suffered or omitted by it hereunder in good faith and in
reliance thereon.

          (c)          The
Trustee may act through its attorneys and agents and will not be responsible
for the misconduct or negligence of any agent appointed with due care.

          (d)          The
Trustee will not be liable for any action it takes or omits to take in good
faith that it believes to be authorized or within the rights or powers
conferred upon it by this Indenture.

          (e)          Unless
otherwise specifically provided in this Indenture, any demand, request,
direction or notice from the Company will be sufficient if signed by an Officer
of the Company.

          (f)          The
Trustee will be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the
Holders of a Series of Securities unless such Holders have offered to the
Trustee reasonable security or indemnity against the costs, expenses and
liabilities that might be incurred by it in compliance with such request or
direction.

          (g)          The
Trustee shall not be deemed to have notice of any Default or Event of Default
with respect to any Series of Securities unless a Responsible Officer of the
Trustee has actual knowledge thereof or unless written notice of any event
which is in fact such a Default or Event of Default is received by the Trustee
at the Corporate Trust Office of the Trustee, and such notice references the
Series Securities governed by this Indenture with respect to which such Default
or Event of Default relates.

          (h)          The
rights, privileges, immunities and benefits given to the Trustee hereunder,
including without limitation, its right to be indemnified, are extended to, and
shall be enforceable by, the Trustee in each of its capacities hereunder, and
to each agent, custodian and other Person employed by the Trustee consistent
with the terms of this Indenture to act hereunder.

          (i)           Any
permissive right or authority granted to the Trustee shall not be construed as
a mandatory duty.

Section 7.03     Individual Rights of Trustee

          The Trustee
in its individual or any other capacity may become the owner or pledgee of
Securities of any Series and may otherwise deal with the Company or any
Affiliate of the Company with the same rights it would have if it were not
Trustee. However, in the event that the
Trustee acquires any conflicting interest, as described in the TIA, it must
eliminate such conflict within 90 days, apply to the SEC for permission to
continue as Trustee or resign. Any
Agent may do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof.

27

Section 7.04     Trustee’s Disclaimer

          The Trustee
will not be responsible for and makes no representation as to the validity or
adequacy of this Indenture or the Securities of any Series, it shall not be
accountable for the Company’s use of the proceeds from the Securities of any
Series or any money paid to the Company or upon the Company’s direction under
any provision of this Indenture, it will not be responsible for the use or
application of any money received by any Paying Agent other than the Trustee, and
it will not be responsible for any statement or recital herein or any statement
in the Securities of any Series or any other document in connection with the
sale of the Securities of any Series or pursuant to this Indenture other than
its certificate of authentication.

Section 7.05     Notice of Defaults

          If a
Default or Event of Default with respect to any Series of Securities of such
Series occurs and is continuing and if it is known to the Trustee, the Trustee
will mail to Holders of Securities of such Series a notice of the Default or
Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of
principal of, premium, if any, or interest on a Security of any Series, the
Trustee may withhold the notice if and so long as a committee of its
Responsible Officers in good faith determines that withholding the notice is in
the interests of the Holders of the Securities of such Series.

Section 7.06     Reports by Trustee to Holders of the Securities

          (a)          Within
60 days after each [_________] beginning with the [________] following the date
of this Indenture, and for so long as Securities of any Series remain
outstanding, the Trustee will mail to the Holders of the Securities of such
Series a brief report dated as of such reporting date that complies with TIA
§ 313(a) (but if no event described in TIA § 313(a) has occurred
within the twelve months preceding the reporting date, no report need be
transmitted). The Trustee also will comply
with TIA § 313(b)(2). The Trustee
will also transmit by mail all reports as required by TIA § 313(c).

          (b)          A
copy of each report at the time of its mailing to the Holders of Securities of
any Series will be mailed by the Trustee to the Company and filed by the
Trustee with the SEC and each stock exchange on which the Securities of such
Series are listed in accordance with TIA § 313(d). The Company will promptly notify the Trustee
when the Securities of any Series are listed on any stock exchange.

Section 7.07     Compensation and Indemnity

          (a)          The
Company will pay to the Trustee from time to time reasonable compensation for
its acceptance of this Indenture and services hereunder as the Company and
Trustee shall from time to time agree in writing. The Trustee’s compensation will not be limited by any law on
compensation of a trustee of an express trust.
The Company will reimburse the Trustee promptly upon request for all
reasonable disbursements, advances and expenses incurred or made by it in
addition to the compensation for its services.
Such expenses will include the reasonable compensation, disbursements
and expenses of the Trustee’s agents and counsel.

          (b)          The
Company shall indemnify the Trustee against any and all losses, liabilities or
expenses incurred by it arising out of or in connection with the acceptance or
administration of its duties under this Indenture, including the costs and
expenses of enforcing this Indenture against the Company (including this
Section 7.07) and defending itself against any claim (whether asserted by the
Company or any Holder or any other Person) or liability in connection with the
exercise or performance of any of its 

28

powers or duties hereunder, except to the extent any such loss,
liability or expense may be attributable to its negligence or bad faith or
willful misconduct. The Trustee will
notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the
Company will not relieve the Company of its obligations hereunder. The Company will defend the claim and the
Trustee will cooperate in the defense.
The Trustee may have separate counsel and the Company will pay the
reasonable fees and expenses of such counsel.
The Company need not pay for any settlement made without its consent,
which consent will not be unreasonably withheld.

          (c)          The
obligations of the Company under this Section 7.07 will survive the
satisfaction and discharge of this Indenture.

          (d)          To
secure the Company’s payment obligations in this Section 7.07, the Trustee will
have a Lien prior to the Securities of each Series on all money or property
held or collected by the Trustee, except that held in trust to pay principal
and interest on particular Securities of a Series. Such Lien will survive the satisfaction and discharge of this
Indenture.

          (e)          When
the Trustee incurs expenses or renders services after an Event of Default
specified in Section 6.01(5) or (6) hereof occurs, the expenses and the
compensation for the services (including the fees and expenses of its agents
and counsel) are intended to constitute expenses of administration under any
Bankruptcy Law.

          (f)          The
Trustee will comply with the provisions of TIA § 313(b)(2) to the extent
applicable.

Section 7.08     Replacement of Trustee

          (a)          A
resignation or removal of the Trustee and appointment of a successor Trustee
with respect to the Securities of one or more Series will become effective only
upon the successor Trustee’s acceptance of appointment as provided in this
Section 7.08.

          (b)          The
Trustee may resign in writing at any time and be discharged from the trust
hereby created by so notifying the Company.
The Holders of a majority in principal amount of the then outstanding
Securities of a Series may remove the Trustee with respect to such Series by so
notifying the Trustee and the Company in writing. The Company may remove the Trustee with respect to the Securities
of one or more Series if:

	
  

 	
  

 
	
  

 	
                (1)          the
 Trustee fails to comply with Section 7.10 hereof;

 
	
  

 	
  

 
	
  

 	
                (2)          the
 Trustee is adjudged a bankrupt or an insolvent or an order for relief is
 entered with respect to the Trustee under any Bankruptcy Law;

 
	
  

 	
  

 
	
  

 	
                (3)          a
 custodian or public officer takes charge of the Trustee or its property; or

 
	
  

 	
  

 
	
  

 	
                (4)          the
 Trustee becomes incapable of acting.

 

          (c)          If
the Trustee resigns or is removed or if a vacancy exists in the office of
Trustee for any reason with respect to the Securities of one or more Series,
the Company will promptly appoint a successor Trustee with respect to the Securities
of that or those Series (it being understood that any such successor Trustee
may be appointed with respect to the Securities of one or more or all of such
Series and that at any time there shall be only one Trustee with respect to the
Securities of any Series). Within one
year after a successor Trustee takes office, the Holders of a majority in
principal amount of the then 

29

outstanding Securities of a Series may appoint a successor Trustee with
respect to such Series to replace the successor Trustee for such Series
appointed by the Company.

          (d)          If
a successor Trustee for a Series does not take office within 60 days after the
retiring Trustee for such Series resigns or is removed, the retiring Trustee,
the Company, or the Holders of at least 10% in principal amount of the then
outstanding Securities of such Series may petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to such
Series.

          (e)          If
the Trustee for a Series, after written request by any Holder of Securities of
such Series who has been a Holder of Securities of such Series for at least six
months, fails with respect to such Series to comply with Section 7.10, such
Holder may petition any court of competent jurisdiction for the removal of the
Trustee for such Series and the appointment of a successor Trustee for such
Series.

          (f)          A
successor Trustee will deliver a written acceptance of its appointment to the
retiring Trustee and to the Company.
Thereupon, the resignation or removal of the retiring Trustee will
become effective, and the successor Trustee will have all the rights, powers
and duties of the Trustee under this Indenture. The successor Trustee will mail a notice of its succession to
Holders of each Series of Securities for which it acts as Trustee. The retiring Trustee will promptly transfer
all property held by it as Trustee to the successor Trustee, provided
all sums owing to the Trustee hereunder have been paid and subject to the Lien
provided for in Section 7.07 hereof.
Notwithstanding replacement of the Trustee pursuant to this Section
7.08, the Company’s obligations under Section 7.07 hereof will continue for the
benefit of the retiring Trustee.

Section 7.09     Successor Trustee by Merger, etc.

          If the
Trustee consolidates, merges or converts into, or transfers all or
substantially all of its corporate trust business to, another corporation, the
successor corporation without any further act will be the successor Trustee.

Section 7.10     Eligibility; Disqualification

          There will
at all times be a Trustee hereunder that is a corporation organized and doing
business under the laws of the United States of America or of any state thereof
that is authorized under such laws to exercise corporate trustee power, that is
subject to supervision or examination by federal or state authorities and that
has a combined capital and surplus of at least $100 million as set forth in its
most recent published annual report of condition.

          This
Indenture will always have a Trustee who satisfies the requirements of TIA
§ 310(a)(1), (2) and (5). The
Trustee is subject to TIA § 310(b).

Section 7.11     Preferential Collection of Claims Against Company

          The Trustee
is subject to TIA § 311(a), excluding any creditor relationship listed in
TIA § 311(b). A Trustee who has
resigned or been removed shall be subject to TIA § 311(a) to the extent
indicated therein.

30

ARTICLE 8.

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

Section
8.01     Option to Effect Legal Defeasance or
Covenant Defeasance

          If,
pursuant to Section 2.02, provision is made for either or both of (a)
defeasance of the Securities of or within a Series under Section 8.02 or (b)
covenant defeasance of the Securities of or within a Series under Section 8.03
to be applicable to the Securities of a Series, then the provisions of such
Section or Sections, as the case may be, together with the other provisions of
this Article (with such modifications thereto as may be specified pursuant to
Section 2.02 with respect to the Securities of such Series), shall be
applicable to the Securities of such Series, and the Company may, at the option
of the Board of Directors evidenced by a resolution set forth in an Officers’
Certificate, at any time, elect to have either Section 8.02 or 8.03 hereof be
applied to all outstanding Securities of such Series upon compliance with the
conditions set forth below in this Article 8.

Section
8.02     Legal Defeasance and Discharge

          Upon
the Company’s exercise under Section 8.01 hereof of the option applicable to
this Section 8.02, the Company shall, subject to the satisfaction of the
conditions set forth in Section 8.04 hereof, be deemed to have been discharged
from its obligations with respect to all outstanding Securities of a Series on
the date the conditions set forth below are satisfied with respect to the
Securities of such Series (hereinafter, “Legal Defeasance”). For this purpose,
Legal Defeasance means that the Company will be deemed to have paid and
discharged the entire Indebtedness represented by the outstanding Securities of
such Series, which will thereafter be deemed to be “outstanding” only for the
purposes of Section 8.05 hereof and the other Sections of this Indenture
referred to in clauses (1) and (2) below, and to have satisfied all their other
obligations under the Securities of such Series and this Indenture (and the
Trustee, on demand of and at the expense of the Company, shall execute proper
instruments acknowledging the same), except for the following provisions which
will survive until otherwise terminated or discharged hereunder:

	
  

 	
  

 
	
  

 	
                (1)          the
 rights of Holders of outstanding Securities of such Series to receive
 payments in respect of the principal of, or interest or premium, if any, on
 such Securities when such payments are due from the trust referred to in
 Section 8.04 hereof;

 
	
  

 	
  

 
	
  

 	
                (2)          the
 Company’s obligations with respect to the Securities of such Series under
 Article 2 and Section 4.02 hereof;

 
	
  

 	
  

 
	
  

 	
                (3)          the
 rights, powers, trusts, duties and immunities of the Trustee hereunder and
 the Company’s obligations in connection therewith; and

 
	
  

 	
  

 
	
  

 	
                (4)          this
 Article 8.

 

          Subject
to compliance with this Article 8, the Company may exercise its option under
this Section 8.02 with respect to Securities of a Series notwithstanding the
prior exercise of its option under Section 8.03 hereof with respect to
Securities of such Series.

Section
8.03     Covenant Defeasance

          Upon
the Company’s exercise under Section 8.01 hereof of the option applicable to
this Section 8.03, the Company shall, subject to the satisfaction of the conditions
set forth in Section 8.04 hereof, be released from each of their obligations
under the covenants contained in Sections 4.3 and 4.4, as well as 

31

any additional covenants
contained in a supplemental indenture hereto for a particular Series of Securities,
with respect to the outstanding Securities of a Series on and after the date
the conditions set forth in Section 8.04 hereof are satisfied (hereinafter, “Covenant
Defeasance”), and the Securities of such Series shall thereafter be
deemed not “outstanding” for the purposes of any direction, waiver, consent or
declaration or act of Holders of Securities of such Series (and the
consequences of any thereof) in connection with such covenants, but will
continue to be deemed “outstanding” for all other purposes hereunder (it being
understood that the Securities of such Series will not be deemed outstanding
for accounting purposes). For this purpose, Covenant Defeasance means that,
with respect to the outstanding Securities of such Series, the Company may omit
to comply with and will have no liability in respect of any term, condition or
limitation set forth in any such covenant, whether directly or indirectly, by
reason of any reference elsewhere herein to any such covenant or by reason of
any reference in any such covenant to any other provision herein or in any
other document and such omission to comply will not constitute a Default or an
Event of Default with respect to Securities of such Series under Section 6.01
hereof, but, except as specified above, the remainder of this Indenture and the
Securities of such Series will be unaffected thereby. In addition, upon the
Company’s exercise under Section 8.01 hereof of the option applicable to this
Section 8.03 hereof, subject to the satisfaction of the conditions set forth in
Section 8.04 hereof, Sections 6.01(3) through 6.01(5) hereof will not
constitute Events of Default.

Section
8.04     Conditions to Legal or Covenant Defeasance

          In
order to exercise either Legal Defeasance or Covenant Defeasance under either
Section 8.02 or 8.03 hereof:

	
  

 	
  

 	
  

 
	
  

 	
                (1)          the
 Company must irrevocably deposit with the Trustee, in trust, for the benefit
 of the Holders of Securities of a Series, cash in such currency, currencies
 or currency units in which such Securities are then specified as payable at
 Stated Maturity, non-callable Government Securities, or a combination
 thereof, in such amounts as will be sufficient, in the opinion of a
 nationally recognized firm of independent public accountants, to pay the
 principal of, premium, if any, and interest on the outstanding Securities of
 such Series on the stated date for payment thereof or on the applicable
 redemption date, as the case may be, and the Company must specify whether the
 Securities of such Series are being defeased to maturity or to a particular
 redemption date;

 
	
  

 	
  

 
	
  

 	
                (2)          in
 the case of an election under Section 8.02 hereof, the Company has delivered
 to the Trustee an Opinion of Counsel in the United States reasonably
 acceptable to the Trustee confirming that:

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
                (A)          the
 Company has received from, or there has been published by, the Internal
 Revenue Service a ruling; or

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
                (B)          since
 the date of this Indenture, there has been a change in the applicable federal
 income tax law,

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 in either case to the
 effect that, and based thereon such Opinion of Counsel shall confirm that,
 the Holders of the outstanding Securities of such Series will not recognize
 income, gain or loss for federal income tax purposes as a result of such
 Legal Defeasance and will be subject to federal income tax on the same
 amounts, in the same manner and at the same times as would have been the case
 if such Legal Defeasance had not occurred;

 
	
  

 	
  

 	
  

 
	
  

 	
                (3)          in
 the case of an election under Section 8.03 hereof, the Company must deliver
 to the Trustee an Opinion of Counsel in the United States reasonably
 acceptable to the Trustee

 

32

	
  

 	
  

 
	
  

 	
 confirming that the
 Holders of the outstanding Securities of such Series will not recognize
 income, gain or loss for federal income tax purposes as a result of such
 Covenant Defeasance and will be subject to federal income tax on the same
 amounts, in the same manner and at the same times as would have been the case
 if such Covenant Defeasance had not occurred;

 
	
  

 	
  

 
	
  

 	
                (4)          no
 Default or Event of Default with respect to Securities of such Series shall
 have occurred and be continuing on the date of such deposit (other than a
 Default or Event of Default with respect to Securities of such Series
 resulting from the borrowing of funds to be applied to such deposit);

 
	
  

 	
  

 
	
  

 	
                (5)          such
 Legal Defeasance or Covenant Defeasance will not result in a breach or
 violation of, or constitute a default under, any material agreement or
 instrument (other than this Indenture) with respect to such Securities to
 which the Company or any of its Subsidiaries is a party or by which the
 Company or any of its Subsidiaries is bound;

 
	
  

 	
  

 
	
  

 	
                (6)          the
 Company must deliver to the Trustee an Officers’ Certificate stating that the
 deposit was not made by the Company with the intent of preferring the Holders
 of Securities of such Series over the other creditors of the Company or with
 the intent of defeating, hindering, delaying or defrauding any other
 creditors of the Company or others; and

 
	
  

 	
  

 
	
  

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

 

Section
8.05     Deposited
Money and Government Securities to be Held in Trust; Other Miscellaneous
Provisions Subject to Section 8.06 hereof, all money and
non-callable Government Securities (including the proceeds thereof) deposited
with the Trustee (or other qualifying trustee, collectively for purposes of
this Section 8.05, the “Trustee”)
pursuant to Section 8.04 hereof in respect of the outstanding Securities of a
Series will be held in trust and applied by the Trustee, in accordance with the
provisions of the Securities of such Series and this Indenture, to the payment,
either directly or through any Paying Agent (including the Company acting as
Paying Agent) as the Trustee may determine, to the Holders of the Securities of
such Series of all sums due and to become due thereon in respect of principal,
premium, if any, and interest, but such money need not be segregated from other
funds except to the extent required by law.

          The
Company will pay and indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against the cash or non-callable Government Securities
deposited pursuant to Section 8.04 hereof or the principal and interest
received in respect thereof other than any such tax, fee or other charge which
by law is for the account of the Holders of an outstanding Series of
Securities.

          Notwithstanding
anything in this Article 8 to the contrary, the Trustee will deliver or pay to
the Company from time to time upon the request of the Company any money or
non-callable Government Securities held by it as provided in Section 8.04
hereof which, in the opinion of a nationally recognized firm of independent
public accountants expressed in a written certification thereof delivered to
the Trustee (which may be the opinion delivered under Section 8.04(1) hereof),
are in excess of the amount thereof that would then be required to be deposited
to effect an equivalent Legal Defeasance or Covenant Defeasance.

Section
8.06     Repayment
to Company Any money deposited with the Trustee or any Paying Agent,
or then held by the Company, in trust for the payment of the principal of,
premium, if any, or interest on any Series of Securities and remaining unclaimed
for two years after such principal, premium, if any, or 

33

interest has become due
and payable shall be paid to the Company on its request or (if then held by the
Company) will be discharged from such trust; and the Holder of Security of such
Series will thereafter be permitted to look only to the Company for payment
thereof, and all liability of the Trustee or such Paying Agent with respect to
such trust money, and all liability of the Company as trustee thereof, will
thereupon cease; provided, however, that the Trustee or such Paying Agent,
before being required to make any such repayment, may at the expense of the
Company cause to be published once, in The New York Times and The Wall Street
Journal (national edition), notice that such money remains unclaimed and that,
after a date specified therein, which will not be less than 30 days from the
date of such notification or publication, any unclaimed balance of such money
then remaining will be repaid to the Company.

Section
8.07     Reinstatement
If the Trustee or Paying Agent is unable to apply any United States dollars or
other currency or non-callable Government Securities in accordance with Section
8.02 or 8.03 hereof, as the case may be, by reason of any order or judgment of
any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the Company’s obligations under this
Indenture and each applicable Series of Securities will be revived and
reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03
hereof until such time as the Trustee or Paying Agent is permitted to apply all
such money in accordance with Section 8.02 or 8.03 hereof, as the case may be; provided,
however, that, if the Company makes any payment of principal of, premium,
if any, or interest on any Series of Securities following the reinstatement of
its obligations, the Company will be subrogated to the rights of the Holders of
such Series of Securities to receive such payment from the money held by the
Trustee or Paying Agent.

ARTICLE 9.

AMENDMENT, SUPPLEMENT AND WAIVER

Section
9.01     Without
Consent of Holders of Securities Notwithstanding Section 9.02
of this Indenture, the Company and the Trustee may amend or supplement this
Indenture or any Series of Securities without the consent of any Holder of
Securities:

	
  

 	
  

 
	
  

 	
                (1)          to
 evidence the succession of another Person to the Company or a Guarantor and
 the assumption by any such successor of the covenants of the Company or such
 Guarantor herein, in any Security Guarantee and in the Securities contained; provided that such succession is
 otherwise in compliance with this Indenture and applicable law; 

 
	
  

 	
  

 
	
  

 	
                (2)          to
 add to the covenants of the Company or any Guarantor for the benefit of the
 Holders of all or any Series of Securities (and, if such covenants are to be
 for the benefit of less than all Series of Securities, stating that such
 covenants are expressly being included solely for the benefit of such Series)
 or to surrender any right or power herein conferred upon the Company or any
 Guarantor; 

 
	
  

 	
  

 
	
  

 	
                (3)          to
 add any additional Events of Default for the benefit of the Holders of all or
 any Series of Securities (and if such Events of Default are to be for the
 benefit of less than all Series of Securities, stating that such Events of
 Default are expressly being included solely for the benefit of such Series); provided, however, that in respect of
 any such additional Events of Default such supplemental indenture may provide
 for a particular period of grace after default (which period may be shorter
 or longer than that allowed in the case of other defaults) or may provide for
 an immediate enforcement upon such default or may limit the remedies
 available to the Trustee upon such default or may limit the right of the
 Holders of a majority in aggregate principal amount of that or those Series
 of Securities to which such additional Events of Default apply to waive such
 default; 

 

34

	
  

 	
  

 
	
  

 	
                (4)          to
 permit or facilitate the issuance of Securities in uncertificated form,
 provided that any such action shall not adversely affect the interest of the
 Holders of Securities of any Series in any material respect; 

 
	
  

 	
  

 
	
  

 	
                (5)          to
 add to, change or eliminate any of the provisions of this Indenture or any
 Guarantee in respect of any Series of Securities, provided that any such
 addition, change or elimination shall (i) neither (A) apply to any Security
 of any Series created prior to the execution of such supplemental indenture
 and entitled to the benefit of such provision, nor (B) modify the rights of
 the Holder of any such Security with respect to such provision; or (ii)
 become effective only when there is no Security Outstanding; 

 
	
  

 	
  

 
	
  

 	
                (6)          to
 secure the Securities of any Series; 

 
	
  

 	
  

 
	
  

 	
                (7)          to
 establish the form or terms of Securities of any Series as permitted by
 Sections 2.01 and 2.02, including the provisions and procedures relating to
 Securities convertible into or exchangeable for other securities or property
 of the Company;

 
	
  

 	
  

 
	
  

 	
                (8)          to
 evidence and provide for the acceptance of appointment hereunder by a
 successor Trustee with respect to the Securities of one or more Series and to
 add or change any of the provisions of the Indenture or any Guarantee as
 shall be reasonable and necessary solely to provide for or facilitate the
 administration of the trusts hereunder by more than one Trustee; provided that such succession is
 otherwise in compliance with this Indenture and applicable law;

 
	
  

 	
  

 
	
  

 	
                (9)          to
 cure any ambiguity, defect or inconsistency;

 
	
  

 	
  

 
	
  

 	
                (10)        to
 provide for uncertificated Securities in addition to or in place of
 certificated Securities or to alter the provisions of Article 2 hereof
 (including the related definitions) in a manner that does not materially
 adversely affect any Holder of any Series of Securities;

 
	
  

 	
  

 
	
  

 	
                (11)        to
 provide for the assumption of the Company’s obligations to the Holders of each
 Series of Securities by a successor to the Company pursuant to Article 5
 hereof;

 
	
  

 	
  

 
	
  

 	
                (12)        to
 make any change that would provide any additional rights or benefits to the
 Holders of each Series of Securities or that does not adversely affect the
 legal rights hereunder of any Holder of any Series of Securities; or

 
	
  

 	
  

 
	
  

 	
                (13)        to
 comply with requirements of the SEC in order to effect or maintain the
 qualification of this Indenture under the TIA.

 

          Upon
the request of the Company accompanied by a resolution of the Board of
Directors authorizing the execution of any such amended or supplemental
Indenture, and upon receipt by the Trustee of the documents described in
Section 7.02 hereof, the Trustee will join with the Company in the execution of
any amended or supplemental Indenture authorized or permitted by the terms of
this Indenture and to make any further appropriate agreements and stipulations
that may be therein contained, but the Trustee will not be obligated to enter
into such amended or supplemental Indenture that affects its own rights, duties
or immunities under this Indenture or otherwise.

Section
9.02     With
Consent of Holders of Securities Except as provided below in
this Section 9.02, the Company and the Trustee may amend or supplement this
Indenture and the Securities of an affected Series with the consent of the
Holders of at least a majority in principal amount of the Securities of such
affected Series then outstanding, voting as a separate class, (including,
without limitation, consents 

35

obtained in connection
with a tender offer or exchange offer for, or purchase of, the Securities of
each affected Series). Subject to Sections 6.04 and 6.07 hereof, any existing
Default or Event of Default with respect to a Series of Securities (other than
a Default or Event of Default in the payment of the principal of, premium, if
any, or interest on the Securities of such Series, except a payment default
resulting from an acceleration that has been rescinded) or compliance with any
provision of this Indenture or the Securities of such Series may be waived with
the consent of the Holders of a majority in principal amount of the then
outstanding Securities of such Series voting as a single class (including
consents obtained in connection with a tender offer or exchange offer for, or
purchase of, the Securities of such Series). Section 2.09 hereof shall determine which
Securities are considered to be “outstanding” for purposes of this Section
9.02.

          Upon
the request of the Company accompanied by a Board Resolution authorizing the
execution of any such amended or supplemental Indenture, and upon the filing
with the Trustee of evidence satisfactory to the Trustee of the consent of the
Holders of Securities of each required Series as aforesaid, and upon receipt by
the Trustee of the documents described in Section 7.02 hereof, the Trustee will
join with the Company in the execution of such amended or supplemental
Indenture unless such amended or supplemental Indenture directly affects the
Trustee’s own rights, duties or immunities under this Indenture or otherwise,
in which case the Trustee may in its discretion, but will not be obligated to,
enter into such amended or supplemental Indenture.

          It
is not be necessary for the consent of the Holders of Securities of any Series
under this Section 9.02 to approve the particular form of any proposed
amendment or waiver, but it is sufficient if such consent approves the
substance thereof.

          After
an amendment, supplement or waiver under this Section 9.02 becomes effective,
the Company will mail to the Holders of Securities of each Series affected
thereby a notice briefly describing the amendment, supplement or waiver. Any
failure of the Company to mail such notice, or any defect therein, will not,
however, in any way impair or affect the validity of any such amended or
supplemental Indenture or waiver. Subject to Sections 6.04 and 6.07 hereof, the
Holders of a majority in aggregate principal amount of the Securities of any
Series then outstanding voting as a single class may waive compliance in a
particular instance by the Company with any provision of this Indenture with
respect to such Series or such Series of Securities. However, without the
consent of each Holder affected, an amendment or waiver under this Section 9.02
may not (with respect to any Securities held by a non-consenting Holder):

	
  

 	
  

 
	
  

 	
                (1)          reduce
 the principal amount of Securities whose Holders must consent to an
 amendment, supplement or waiver;

 
	
  

 	
  

 
	
  

 	
                (2)          reduce
 the principal of or change the fixed maturity of any Security or alter or
 waive any of the provisions with respect to the redemption of the Securities;

 
	
  

 	
  

 
	
  

 	
                (3)          reduce
 the rate of or change the time for payment of interest, including default
 interest, on any Security;

 
	
  

 	
  

 
	
  

 	
                (4)          waive
 a Default or Event of Default in the payment of principal of or premium, if
 any, or interest on any Securities (except a rescission of acceleration of
 the Securities of any Series by the Holders of at least a majority in
 aggregate principal amount of the then outstanding Securities of such Series
 and a waiver of the payment default that resulted from such acceleration);

 
	
  

 	
  

 
	
  

 	
                (5)          make
 any Security payable in currency other than that stated in the Securities;

 

36

	
  

 	
  

 
	
  

 	
                (6)          make
 any change in the provisions of this Indenture relating to waivers of past
 Defaults or the rights of Holders of Securities to receive payments of
 principal of, or interest or premium, if any, on the Securities;

 
	
  

 	
  

 
	
  

 	
                (7)          waive
 a redemption payment, if any, with respect to any Securities or change any of
 the provisions with respect to the redemption of any Securities; or

 
	
  

 	
  

 
	
  

 	
                (8)          make
 any change in the foregoing amendment and waiver provisions.

 

Section
9.03     Compliance with Trust Indenture Act Every
amendment or supplement to this Indenture or the Securities will be set forth
in an amended or supplemental Indenture that complies with the TIA as then in
effect.

Section
9.04     Revocation and Effect of Consents
Until an amendment, supplement or waiver becomes effective, a consent to it by
a Holder of a Security is a continuing consent by the Holder of a Security and
every subsequent Holder of a Security or portion of a Security that evidences
the same debt as the consenting Holder’s Security, even if notation of the
consent is not made on any Security. However, any such Holder of a Security or
subsequent Holder of a Security may revoke the consent as to its Security if
the Trustee receives written notice of revocation before the date the waiver,
supplement or amendment becomes effective. An amendment, supplement or waiver
becomes effective in accordance with its terms and thereafter binds every
Holder.

Section
9.05     Notation on or Exchange of Securities
The Trustee may place an appropriate notation about an amendment, supplement or
waiver on any Security thereafter authenticated. If the Company so determines,
the Company in exchange for all Securities of a Series may issue and the
Trustee shall, upon receipt of an Authentication Order, authenticate new
Securities of such Series that reflect the amendment, supplement or waiver.

          Failure
to make the appropriate notation or issue a new Security will not affect the
validity and effect of such amendment, supplement or waiver.

Section
9.06     Trustee to Sign Amendments, etc.

          The
Trustee will sign any amended or supplemental Indenture authorized pursuant to
this Article 9 if the amendment or supplement does not adversely affect the
rights, duties, liabilities or immunities of the Trustee. The Company may not
sign an amendment or supplemental Indenture until the Board of Directors approves
it. In executing any amended or supplemental indenture, the Trustee will be
entitled to receive and (subject to Section 7.01 hereof) will be fully
protected in relying upon, in addition to the documents required by Section
12.04 hereof, an Officers’ Certificate and an Opinion of Counsel stating that
the execution of such amended or supplemental Indenture is authorized or
permitted by this Indenture.

ARTICLE 10.

GUARANTEES

Section
10.01     Guarantees.

             (a)          If,
pursuant to Section 2.02, provision is made for the Guarantee of the Securities
of a Series, then subject to this Article 10, each of the Guarantors hereby,
jointly and severally, unconditionally guarantees to each Holder of a Security
of such Series authenticated and delivered by the Trustee and to the Trustee
and its successors and assigns, irrespective of the validity and enforceability
of 

37

this Indenture, the
Securities of such Series or the obligations of the Company hereunder or
thereunder, that:

	
  

 	
  

 
	
  

 	
                (1)          the
 principal of, premium, and interest on such Securities and any Additional
 Amounts will be promptly paid in full when due, whether at maturity, by
 acceleration, redemption or otherwise, and interest on the overdue principal
 of and interest on such Securities, if any, if lawful, and all other
 obligations of the Company to the Holders of Securities of such Series or the
 Trustee hereunder or thereunder will be promptly paid in full or performed,
 all in accordance with the terms hereof and thereof; and 

 
	
  

 	
  

 
	
  

 	
                (2)          in
 case of any extension of time of payment or renewal of any such Securities or
 any of such other obligations, that same will be promptly paid in full when
 due or performed in accordance with the terms of the extension or renewal, whether
 at stated maturity, by acceleration or otherwise.

 

          Failing
payment when due of any amount so guaranteed or any performance so guaranteed
for whatever reason, the Guarantors will be jointly and severally obligated to
pay the same immediately. Each Guarantor agrees that this is a guarantee of
payment and not a guarantee of collection.

          (b)          The
Guarantors hereby agree that their obligations hereunder are unconditional,
irrespective of the validity, regularity or enforceability of the Securities or
this Indenture, the absence of any action to enforce the same, any waiver or
consent by any Holder of the Securities with respect to any provisions hereof
or thereof, the recovery of any judgment against the Company, any action to enforce
the same or any other circumstance which might otherwise constitute a legal or
equitable discharge or defense of a guarantor. Each Guarantor hereby waives
diligence, presentment, demand of payment, filing of claims with a court in the
event of insolvency or bankruptcy of the Company, any right to require a
proceeding first against the Company, protest, notice and all demands
whatsoever and covenant that the Security Guarantee will not be discharged
except by complete performance of the obligations contained in such Securities
and this Indenture.

          (c)          If
any Holder or the Trustee is required by any court or otherwise to return to
the Company, the Guarantors or any custodian, trustee, liquidator or other
similar official acting in relation to either the Company or the Guarantors,
any amount paid by either to the Trustee or such Holder, the Security
Guarantee, to the extent theretofore discharged, will be reinstated in full
force and effect.

          (d)          Each
Guarantor agrees that it will not be entitled to any right of subrogation in
relation to the Holders in respect of any obligations guaranteed hereby until
payment in full of all obligations guaranteed hereby. Each Guarantor further
agrees that, as between the Guarantors, on the one hand, and the Holders and
the Trustee, on the other hand, (1) the maturity of the obligations guaranteed
hereby may be accelerated as provided in Article 6 hereof for the purposes of
the Security Guarantee, notwithstanding any stay, injunction or other
prohibition preventing such acceleration in respect of the obligations
guaranteed hereby, and (2) in the event of any declaration of acceleration of
such obligations as provided in Article 6 hereof, such obligations (whether or
not due and payable) will forthwith become due and payable by the Guarantors
for the purpose of the Security Guarantee. The Guarantors will have the right
to seek contribution from any non-paying Guarantor so long as the exercise of
such right does not impair the rights of the Holders under the Security
Guarantee.

Section
10.02     Limitation on Guarantor Liability.

          Each
Guarantor, and by its acceptance of Securities, each Holder, hereby confirms
that it is the intention of all such parties that the Security Guarantee of
such Guarantor not constitute a fraudulent 

38

transfer or conveyance
for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the
Uniform Fraudulent Transfer Act or any similar federal or state law to the
extent applicable to any Security Guarantee. To effectuate the foregoing
intention, the Trustee, the Holders and the Guarantors hereby irrevocably agree
that the obligations of such Guarantor under its Security Guarantee and this
Article 10 shall be limited to the maximum amount as will, after giving effect
to such maximum amount and all other contingent and fixed liabilities of such
Guarantor that are relevant under such laws, and after giving effect to any
collections from, rights to receive contribution from or payments made by or on
behalf of any other Guarantor in respect of the obligations of such other
Guarantor under this Article 10, result in the obligations of such Guarantor
under its Security Guarantee not constituting a fraudulent transfer or
conveyance.

Section
10.03     Execution and Delivery of Security
Guarantee.

          To
evidence its Security Guarantee set forth in Section 10.01, each Guarantor
hereby agrees that a notation of such Security Guarantee will be endorsed by an
Officer of such Guarantor on each Security of a guaranteed Series authenticated
and delivered by the Trustee and that this Indenture will be executed on behalf
of such Guarantor by one of its Officers.

          Each
Guarantor hereby agrees that its Security Guarantee set forth in Section 10.01
will remain in full force and effect notwithstanding any failure to endorse on
each Security of a guaranteed Series a notation of such Security Guarantee.

          If
an Officer whose signature is on this Indenture or on the Security Guarantee no
longer holds that office at the time the Trustee authenticates the Security on
which a Security Guarantee is endorsed, the Security Guarantee will be valid
nevertheless.

          The
delivery of any Security of a guaranteed Series by the Trustee, after the
authentication thereof hereunder, will constitute due delivery of the Security
Guarantee set forth in this Indenture on behalf of the Guarantors.

Section
10.04     Guarantors May Consolidate, etc., on Certain
Terms.

          Except
as otherwise provided in Section 10.05, no Guarantor may sell or otherwise
dispose of all or substantially all of its assets to, or consolidate with or
merge with or into (whether or not such Guarantor is the surviving Person)
another Person, other than the Company or another Guarantor, unless:

	
  

 	
  

 
	
  

 	
                (1)          immediately
 after giving effect to such transaction, no Default or Event of Default
 exists; and

 
	
  

 	
  

 
	
  

 	
                (2)          subject
 to Section 10.05 hereof, the Person acquiring the property in any such sale
 or disposition or the Person formed by or surviving any such consolidation or
 merger unconditionally assumes all the obligations of that Guarantor,
 pursuant to a supplemental indenture in form and substance reasonably
 satisfactory to the Trustee, under the Securities of a guaranteed Series,
 this Indenture and the Security Guarantee on the terms set forth herein or
 therein.

 

          In
case of any such consolidation, merger, sale or conveyance and upon the
assumption by the successor Person, by supplemental indenture, executed and
delivered to the Trustee and satisfactory in form to the Trustee, of the
Security Guarantee endorsed upon the Securities of a guaranteed Series and the
due and punctual performance of all of the covenants and conditions of this
Indenture to be performed by the Guarantor, such successor Person will succeed
to and be substituted for the Guarantor with the same 

39

effect as if it had been
named herein as a Guarantor. Such successor Person thereupon may cause to be
signed any or all of the Security Guarantees to be endorsed upon all of the
Securities of a guaranteed Series issuable hereunder which theretofore shall
not have been signed by the Company and delivered to the Trustee. All the
Security Guarantees so issued will in all respects have the same legal rank and
benefit under this Indenture as the Security Guarantees theretofore and
thereafter issued in accordance with the terms of this Indenture as though all
of such Security Guarantees had been issued at the date of the execution
hereof.

          Except
as set forth in Articles 4 and 5 hereof, nothing contained in this Indenture or
in any of the Securities will prevent any consolidation or merger of a
Guarantor with or into the Company or another Guarantor, or will prevent any
sale or conveyance of the property of a Guarantor as an entirety or
substantially as an entirety to the Company or another Guarantor.

Section
10.05     Releases Following Sale of Assets.

          In
the event of any sale or other disposition of all or substantially all of the
assets of any Guarantor, by way of merger, consolidation or otherwise, or a
sale or other disposition of all to the Capital Stock of any Guarantor, in each
case to a Person that is not (either before or after giving effect to such
transactions) a wholly-owned Subsidiary of the Company, then such Guarantor (in
the event of a sale or other disposition, by way of merger, consolidation or
otherwise, of all of the capital stock of such Guarantor) or the corporation
acquiring the property (in the event of a sale or other disposition of all or
substantially all of the assets of such Guarantor) will be released and
relieved of any obligations under its Security Guarantee; provided that the net
proceeds of such sale or other disposition are applied in accordance with
applicable provisions of this Indenture, if any, including, without limitation,
provisions included in any Board Resolution or Officers’ Certificate pursuant
to a Board Resolution described in Section 2.02. Upon delivery by the Company
to the Trustee of an Officers’ Certificate and an Opinion of Counsel to the
effect that such sale or other disposition was made by the Company in
accordance with the provisions of this Indenture, the Trustee will execute any
documents reasonably required in order to evidence the release of any Guarantor
from its obligations under its Security Guarantee.

          Any
Guarantor not released from its obligations under its Security Guarantee will
remain liable for the full amount of principal of and interest on the Securities
of a Series that it has guaranteed and for the other obligations of any
Guarantor of Securities of a Series that it has guaranteed under this Indenture
as provided in this Article 10.

ARTICLE 11.

SATISFACTION AND DISCHARGE

Section 11.01     Satisfaction
and Discharge This Indenture will be discharged and will
cease to be of further effect as to all Securities of a Series issued
hereunder, when:

	
  

 	
  

 
	
  

 	
                   (1)          either:

 
	
  

 	
  

 
	
  

 	
                                  (a)
 all Securities of such Series that have been authenticated (except lost,
 stolen or destroyed Securities that have been replaced or paid and Securities
 for whose payment money has theretofore been deposited in trust and
 thereafter repaid to the Company) have been delivered to the Trustee for
 cancellation; or

 
	
  

 	
  

 
	
  

 	
                                  (b)
 all Securities of such Series that have not been delivered to the Trustee for
 cancellation have become due and payable by reason of the making of a notice
 of redemption or otherwise or will become due and payable within one year and
 the Company has irrevocably 

 

40

	
  

 	
  

 
	
  

 	
 deposited or caused to
 be deposited with the Trustee as trust funds in trust solely for the benefit
 of the Holders of such Series, cash in U.S. dollars, non-callable Government
 Securities, or a combination thereof, in such amounts as will be sufficient
 without consideration of any reinvestment of interest to pay and discharge
 the entire indebtedness on the Securities of such Series not delivered to the
 Trustee for cancellation for principal, premium, if any, and accrued interest
 to the date of maturity or redemption;

 
	
  

 	
  

 
	
  

 	
                (2)          no
 Default or Event of Default has occurred and is continuing on the date of
 such deposit or will occur as a result of such deposit and such deposit will
 not result in a breach or violation of, or constitute a default under, any
 other instrument to which the Company is a party or by which the Company is
 bound;

 
	
  

 	
  

 
	
  

 	
                (3)          the
 Company has paid or caused to be paid all sums payable by it under this
 Indenture; and

 
	
  

 	
  

 
	
  

 	
                (4)          the
 Company has delivered irrevocable instructions to the Trustee under this
 Indenture to apply the deposited money toward the payment of the Securities
 of such Series at maturity or the redemption date, as the case may be.

 

          In
addition, the Company must deliver an Officers’ Certificate and an Opinion of
Counsel to the Trustee stating that all conditions precedent to satisfaction
and discharge have been satisfied.

          Notwithstanding
the satisfaction and discharge of this Indenture as to all Securities of any
Series under this Indenture, if money has been deposited with the Trustee
pursuant to subclause (b) of clause (1) of this Section with respect to a
Series of Securities, the provisions of Section 11.02 and Section 8.06 will
survive with respect to such Series of Securities. In addition, nothing in this
Section 11.01 will be deemed to discharge those provisions of Section 7.07
hereof, that, by their terms, survive the satisfaction and discharge of this Indenture.

Section
11.02     Application
of Trust Money Subject to the provisions of Section 8.06, all
money deposited with the Trustee pursuant to Section 11.01 shall be held in
trust and applied by it, in accordance with the provisions of the Securities of
such Series and this Indenture, to the payment, either directly or through any
Paying Agent (including the Company acting as its own Paying Agent) as the
Trustee may determine, to the Persons entitled thereto, of the principal (and
premium, if any) and interest for whose payment such money has been deposited
with the Trustee; but such money need not be segregated from other funds except
to the extent required by law.

          If
the Trustee or Paying Agent is unable to apply any money or Government Securities
in accordance with Section 11.01 by reason of any legal proceeding or by reason
of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, the Company’s
obligations under this Indenture and the Securities of such Series shall be
revived and reinstated as though no deposit had occurred pursuant to Section
11.01; provided
that if the Company has made any payment of principal of, premium, if any, or
interest on any Securities of such Series because of the reinstatement of its
obligations, the Company shall be subrogated to the rights of the Holders of
Securities of such Series to receive such payment from the money or Government
Securities held by the Trustee or Paying Agent.

          The
Company shall pay and indemnify the Trustee against any tax, fee or other
charge imposed or assessed against the Trustee with respect to the money
deposited with the Trustee pursuant to Section 11.01 hereof.

41

ARTICLE 12.

MISCELLANEOUS

Section 12.01     Trust
Indenture Act Controls If any provision of this Indenture
limits, qualifies or conflicts with the duties imposed by TIA §318(c), the
imposed duties will control.

Section
12.02     Notices
Any notice or communication by the Company or the Trustee to the others is duly
given if in writing and delivered in Person or mailed by first class mail
(registered or certified, return receipt requested), telex, telecopier or
overnight air courier guaranteeing next day delivery, to the others’ address:

	
  

 	
  

 
	
 If to the Company:

 
	
  

 	
  

 
	
  

 	
 AmREIT, Inc.

 
	
  

 	
 8 Greenway Plaza, Suite 1000

 
	
  

 	
 Houston, Texas 77046

 
	
  

 	
 Telephone No.: (713) 850-1400

 
	
  

 	
 Attention: Chad C. Braun

 
	
  

 	
  

 
	
 With a copy to:

 
	
  

 	
  

 
	
  

 	
 Bass, Berry &
 Sims PLC

 
	
  

 	
 The Tower at
 Peabody Place 

 
	
  

 	
 100 Peabody Place
 Suite 900

 
	
  

 	
 Memphis, Tennessee 38103

 
	
  

 	
 Fax No.: (888) 543-4644

 
	
  

 	
 Telephone No.: (901) 543-5901

 
	
  

 	
 Attention: John A. Good

 
	
  

 	
  

 
	
 If to the Trustee:

 
	
  

 
	
  

 	
 [_____________]

 
	
  

 	
 [_____________]

 
	
  

 	
 [_____________]

 
	
  

 	
 Fax No.: [_____________]

 
	
  

 	
 Telephone No.: [_____________]

 
	
  

 	
 Attention: [_____________]

 

          The
Company or the Trustee, by notice to the others may designate additional or
different addresses for subsequent notices or communications.

          All
notices and communications (other than those sent to Holders) will be deemed to
have been duly given: at the time delivered by hand, if personally delivered;
five Business Days after being deposited in the mail, postage prepaid, if
mailed; when answered back, if telexed; when receipt acknowledged, if
telecopied; and the next Business Day after timely delivery to the courier, if
sent by overnight air courier guaranteeing next day delivery.

          Any
notice or communication to a Holder will be mailed by first class mail,
certified or registered, return receipt requested, or by overnight air courier
guaranteeing next day delivery to its address shown on the register kept by the
Registrar. Any notice or communication will also be so mailed 

42

to any Person described
in TIA § 313(c), to the extent required by the TIA. Failure to mail a
notice or communication to a Holder or any defect in it will not affect its
sufficiency with respect to other Holders.

          If
a notice or communication is mailed in the manner provided above within the
time prescribed, it is duly given, whether or not the addressee receives it.

          If
the Company mails a notice or communication to Holders of a Series of
Securities, it will mail a copy to the Trustee and each Agent for such Series
of Securities at the same time.

Section
12.03     Communication by Holders of Securities with
Other Holders of Securities

          Holders
may communicate pursuant to TIA § 312(b) with other Holders with respect
to their rights under this Indenture or the Securities. The Company, the
Trustee, the Registrar and anyone else shall have the protection of TIA
§ 312(c).

Section
12.04     Certificate and Opinion as to Conditions
Precedent

          Upon
any request or application by the Company to the Trustee to take any action
under this Indenture, the Company shall furnish to the Trustee:

	
  

 	
  

 
	
  

 	
                  (1)          an
 Officers’ Certificate in form and substance reasonably satisfactory to the
 Trustee (which must include the statements set forth in Section 12.05 hereof)
 stating that, in the opinion of the signers, all conditions precedent and
 covenants, if any, provided for in this Indenture relating to the proposed
 action have been satisfied; and

 
	
  

 	
  

 
	
  

 	
                  (2)          an
 Opinion of Counsel in form and substance reasonably satisfactory to the
 Trustee (which must include the statements set forth in Section 12.05 hereof)
 stating that, in the opinion of such counsel, all such conditions precedent
 and covenants have been satisfied.

 

Section
12.05     Statements Required in Certificate or
Opinion

          Each
certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture (other than a certificate provided pursuant to
TIA § 314(a)(4)) must comply with the provisions of TIA § 314(e) and
must include:

	
  

 	
  

 
	
  

 	
                  (1)          a
 statement that the Person making such certificate or opinion has read such
 covenant or condition;

 
	
  

 	
  

 
	
  

 	
                  (2)          a
 brief statement as to the nature and scope of the examination or
 investigation upon which the statements or opinions contained in such
 certificate or opinion are based;

 
	
  

 	
  

 
	
  

 	
                  (3)          a
 statement that, in the opinion of such Person, he or she has made such
 examination or investigation as is necessary to enable him or her to express
 an informed opinion as to whether or not such covenant or condition has been
 satisfied; and

 
	
  

 	
  

 
	
  

 	
                  (4)          a
 statement as to whether or not, in the opinion of such Person, such condition
 or covenant has been satisfied.

 

          In
giving an Opinion of Counsel, counsel may rely as to factual matters on an
Officers’ Certificate or certificates of public officials.

43

Section
12.06     Rules by Trustee and Agents

          The
Trustee may make reasonable rules for action by or at a meeting of Holders. The
Registrar or Paying Agent may make reasonable rules and set reasonable
requirements for its functions.

Section
12.07     No Personal Liability of Directors,
Officers, Employees and Stockholders

          No
past, present or future trustee, officer, employee, incorporator or stockholder
of the Company, as such, will have any liability for any obligations of the
Company under the Securities, this Indenture, or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each Holder of
Securities by accepting a Security waives and releases all such liability. The
waiver and release are part of the consideration for issuance of the
Securities. The waiver may not be effective to waive liabilities under the
federal securities laws.

Section
12.08     Governing Law

          THE
INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS
INDENTURE AND THE SECURITIES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF
CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION WOULD BE REQUIRED THEREBY.

Section
12.09     No Adverse Interpretation of Other
Agreements

          This
Indenture may not be used to interpret any other indenture, loan or debt
agreement of the Company or its Subsidiaries or of any other Person. Any such
indenture, loan or debt agreement may not be used to interpret this Indenture.

Section
12.10     Successors

          All
agreements of the Company in this Indenture and the Securities will bind its
successors. All agreements of the Trustee in this Indenture will bind its
successors.

Section
12.11     Severability

          In
case any provision in this Indenture or in the Securities is invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining
provisions will not in any way be affected or impaired thereby.

Section
12.12     Counterpart Originals

          The
parties may sign any number of copies of this Indenture. Each signed copy will
be an original, but all of them together represent the same agreement.

Section
12.13     Table of Contents, Headings, etc.

          The
Table of Contents, Cross-Reference Table and Headings of the Articles and
Sections of this Indenture have been inserted for convenience of reference
only, are not to be considered a part of this Indenture and will in no way
modify or restrict any of the terms or provisions hereof.

44

SIGNATURES

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Dated as of [_____________], 20[__]

 	
  

 	
  

 
	
  

 	
  

 	
 COMPANY:

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 AmREIT, INC.

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 By: 

 	
  

 
	
  

 	
  

 	
 Name:

 
	
  

 	
  

 	
 Title:

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 GUARANTORS:

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 [_____________]

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 By

 	
  

 	
  

 
	
  

 	
  

 	
 Name:

 
	
  

 	
  

 	
 Title:

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 [_____________]

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 By

 	
  

 	
  

 
	
  

 	
  

 	
 Name:

 
	
  

 	
  

 	
 Title:

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
    each as a Guarantor

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 TRUSTEE:

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 [_____________]

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 By

 	
  

 
	
  

 	
  

 	
 Name:

 
	
  

 	
  

 	
 Title:X10.01-ACB APA

		

			 

		

		
			ACCOUNT PURCHASE AGREEMENT
		

		
			This Account Purchase Agreement dated as of June 13, 2013, is entered into between Wells Fargo Bank, National Association (together with its participants, successors and assigns, “WFBC”) and Accountabilities, Inc., a Delaware corporation (the “Customer”).
		

			
			
				 Article 1.
			

			
			
			
Purpose of Agreement

			
			
				 .
			

			
			
			Purpose of Agreement.  The Customer desires to sell, transfer and assign to WFBC all of the Customer’s right, title and interest in certain of its Accounts, all Related Rights with respect thereto and all proceeds of the foregoing and WFBC desires to purchase all of the Customer’s right, title and interest in such Accounts, all Related Rights with respect thereto and all proceeds of the foregoing on the terms and conditions set forth herein.  The purchase of Accounts and Related Rights hereunder shall be full recourse and shall be on a notification of assignment basis.  The purpose of this Agreement is commercial in nature and not for household, family or personal use.  Terms which are not defined herein shall have the meaning set forth in the Uniform Commercial Code as adopted in the State of Colorado.  The Customer acknowledges and agrees that WFBC has not made any representations or warranties concerning the tax, accounting or legal characteristics of the transaction set forth herein and in the Related Documents and that the Customer has obtained and relied upon such tax, accounting and legal advice from its own experts concerning such transaction as it deems appropriate.

			
			
				 .
			

			
			
			
Definitions

			
			
				 .
			

			
			
			“Acceptable Account” means an Account, in an amount equal to the aggregate face amount of such Account, net of any credits or allowances of any nature, which (a) conforms to the representations, warranties and terms set forth herein and (b) is not an Unacceptable Account as defined below.

			
			
				 .
			

			
			
			“Account” means any right of payment of the net amount for goods sold, or leased and delivered or services rendered in the ordinary course of the Customer’s business which is not evidenced by an instrument or chattel paper.

			
			
				 .
			

			
			
			“Account Debtor” means the Customer’s customer or any other Person owing money to the Customer with respect to an Account.

			
			
				 .
			

			
			
			“Affiliate” means (a) any Person that directly, or indirectly through one or more intermediaries, controls another Person (as used in this Section 2.04, a “Controlling Person”) or (b) any Person which is controlled by or is under common control with a Controlling Person.  As used herein, the term “control” means possession, directly or indirectly, of the power to vote ten percent (10%) or more of any class of voting securities of a Person or to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

			
			
				 .
			

			
			
			“Affiliate Account Purchase Agreements” means (a) the Account Purchase Agreement by and between Insurance Overload Services, Inc. and WFBC dated as of August 27, 2010, 
		

		 

		

			 

		

 

		

			 

		

		(b) the Account Purchase Agreement by and between Corporate Resource Development Inc. and WFBC dated as of November 2, 2010, (c) the Account Purchase Agreement by and between Diamond Staffing Services, Inc. and WFBC dated as of January 31, 2011, and (d) the Amended and Restated Account Purchase Agreement by and between TS Staffing Services, Inc. and WFBC dated as of November 21, 2011.

			
			
				 .
			

			
			
			“Aggregate Facility Maximum” means $67,500,000, which amount may be reduced, from to time and at the election of WFBC in its sole discretion if a Participant defaults under its participation arrangement with WFBC or if such participation arrangement is terminated, by an amount determined by WFBC in its sole discretion, which amount shall not exceed the amount of any participating interests in the interests of WFBC hereunder sold by WFBC to a Participant.

			
			
				 .
			

			
			
			“Agreement” means this Account Purchase Agreement.

			
			
				 .
			

			
			
			“Assignment and Schedule of Accounts” means an Assignment and Schedule of Accounts, in form and substance acceptable to WFBC in its sole discretion.

			
			
				 .
			

			
			
			“Business Day” means a day on which the Federal Reserve Bank of New York is open for business.

			
			
				 .
			

			
			
			“Change of Control” means the occurrence of any of the following events:    Any Person or “group” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934) who does not have an ownership interest in the Customer on the Closing Date is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that any such Person, entity or group will be deemed to have “beneficial ownership” of all securities that such Person, entity or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than ten percent (10%) of the voting power of all classes of ownership of the Customer.

			
			
				 .
			

			
			
			“Closing Date” means June 13, 2013.

			
			
				 .
			

			
			
			“Collateral” shall mean all of the following property of the Customer whether now owned or existing or hereafter created or acquired or arising, or in which the Customer now has or hereafter acquires any rights, and wheresoever located:  (a) all Purchased Accounts and all of the Related Rights; (b) all Accounts; (c) all chattel paper (including electronic chattel paper); (d) all inventory and goods; (e)  all equipment; (f) all commercial tort claims; (g) all documents (including warehouse receipts, bills of lading, and other documents of title); (h) all general intangibles (including (i) payment intangibles, (ii) intellectual property and (iii) all other choses in action, causes of action, actions, suits, and other legal proceedings of any kind); (i) all instruments; (j) all investment property; (k) all letters of credit and letter of credit rights; (l) all supporting obligations; (m) the Collected Reserve Account and all monies and other things of value contained in the Collected Reserve Account; (n) all of the Customer’s  deposit accounts and all of the Customer’s  blocked accounts, lockbox accounts or collateral accounts established with or for the benefit of WFBC, and all items in any lockbox established with or for the benefit of WFBC; (o) all Records and all other tangible and electronic books and records of the Customer (including all mail and electronic mail); (p) all amendments, modifications, products, 
		

		 

		

			2

		

		

			 

		

 

		

			 

		

		replacements, and substitutions to any of the foregoing; (q) in the case of all goods set forth above, all accessions; (r) all accessories, attachments, parts, equipment and repairs now or hereafter attached or affixed to or used in connection with any goods set forth above; (s) all warehouse receipts, bills of lading and other documents of title now or hereafter covering any goods set forth above; (t) all collateral subject to the Lien of any Related Document; (u) all money and other assets of the Customer that now or hereafter come into the possession, custody, or control of WFBC; and (v) all proceeds (including cash, insurance and condemnation proceeds) of, all substitutions and replacements for, and all products of, any of the foregoing.

			
			
				 .
			

			
			
			“Confidential Information” shall have the meaning set forth in Section 11.17.

			
			
				 .
			

			
			
			“Collected Reserve Account” means the internal general ledger account to and from which from time to time credits, debits and disbursements will be made in accordance with this Agreement.

			
			
				 .
			

			
			
			“D & D Account Purchase Agreement” means the Amended and Restated Account Purchase Agreement by and between D & D Staffing, Corp. and WFBC dated as of November 21, 2011.

			
			
				 .
			

			
			
			“Event of Termination” shall have the meaning set forth in Article 9.

			
			
				 .
			

			
			
			“Facility Maximum” means, subject to the availability of Acceptable Accounts and the exercise of WFBC’s discretion as provided herein,  the Aggregate Facility Maximum less (a) the aggregate Outstanding Balance (as defined in the applicable Affiliate Account Purchase Agreement) of all Purchased Accounts (as defined in the applicable Affiliate Account Purchase Agreement) under the Affiliate Account Purchase Agreements, less (b) the sum of (i) the Outstanding Balance (as defined in the D & D Account Purchase Agreement) of all Purchased Accounts (as defined in the D & D Account Purchase Agreement) under the D & D Account Purchase Agreement and (ii) any other amounts owing by D & D Staffing, Corp. to WFBC under the D & D Account Purchase Agreement.

			
			
				 .
			

			
			
			“Final Termination Date” shall have the meaning set forth in Section 11.26.

			
			
				 .
			

			
			
			“Former Plan” means any employee benefit plan in respect of which the Customer or a Subsidiary has engaged in a transaction described in Section 4069 or Section 4212(c) of ERISA.

			
			
				 .
			

			
			
			“Guarantor” means every Person now or in the future who agrees to guaranty the obligations of the Customer to WFBC.

			
			
				 .
			

			
			
			“Guaranty” means each guaranty of the obligations of the Customer to WFBC, executed by a Guarantor in favor of WFBC.

			
			
				 .
			

			
			
			“Indemnified Liabilities” shall have the meaning set forth in Section 11.07(a).  

			
			
				 .
			

			
			
			“Indemnitees” shall have the meaning set forth in Section 11.07(a).

			
			
				 .
			

			
			
			“Insolvency” means, with respect to any Multiemployer Plan, the condition that such Plan is insolvent within the meaning of Section 4245 of ERISA. 

		 

		

			3

		

		

			 

		

 

		

			 

		

			
			
				 .
			

			
			
			“Insolvency Proceeding” means any proceeding under Title 11 of the United States Code or under the Bankruptcy and Insolvency Act (Canada) or the Companies Creditors Arrangement Act (Canada), any general assignment for the benefit of creditors, any proceeding instituted by or against a Person seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency, reorganization or relief of debtors, or any proceeding seeking the entry of an order for relief by the appointment of a receiver, trustee, custodian or similar official for its or a substantial part of its property.

			
			
				 .
			

			
			
			“LIBOR” means, as of a selected date, the greater of (a) forty-five one hundredths of one percent (0.45%) and (b) the rate per annum (rounded upward, if necessary, to the nearest whole 1/16th of one percent (1.0%)) determined pursuant to the following formula:

			
					
						LIBOR =

					
					
						Base LIBOR

					
					
						 

				
	
					
						 

					
					
						100% - LIBOR Reserve Percentage

					
					
						 

				

			
			
				 (a)
			

			
			
			“Base LIBOR” means the rate per annum for United States Dollar deposits quoted by WFBC for the purpose of calculating the effective floating interest rate for loans that reference Daily Three Month LIBOR as the Inter-Bank Market Offered Rate in effect from time to time for 3 month delivery of funds in amounts approximately equal to the principal amount of such loans.

			
			
				 (b)
			

			
			
			“Daily Three Month LIBOR” means, for any day, the rate of interest equal to LIBOR then in effect for delivery for a 3 month period.  When interest is determined in relation to Daily Three Month LIBOR, each change in the interest rate shall become effective each Business Day that WFBC determines that Daily Three Month LIBOR has changed.

			
			
				 (c)
			

			
			
			“LIBOR Reserve Percentage” means the reserve percentage prescribed by the Board of Governors of the Federal Reserve System (or any successor) for “Eurocurrency Liabilities” (as defined in Regulation D of the Federal Reserve Board, as amended), adjusted by WFBC for expected changes in such reserve percentage during the then current Term.

		
			The Customer understands and agrees that WFBC may base its quotation of the Inter-Bank Market Offered Rate upon such offers or other market indicators of the Inter-Bank Market as WFBC in its discretion deems appropriate, including the rate offered for U.S. Dollar deposits on the London Inter-Bank Market.  WFBC’s determination of LIBOR shall be conclusive, absent manifest error.
		

			
			
				 .
			

			
			
			“Lien” means any security interest, assignment (whether absolute or by way of security), mortgage, deed of trust, pledge, lien (statutory or otherwise), charge, encumbrance, title retention agreement or analogous instrument or device, including without limitation the interest of each lessor under any capitalized lease and the interest of any bondsman under any payment or performance bond, in, of or on any assets or properties of a person or entity, whether now owned or subsequently acquired and whether arising by agreement or operation of law.

		 

		

			4

		

		

			 

		

 

		

			 

		

			
			
				 .
			

			
			
			“Material Adverse Effect” means any effect upon the business, operations, property or financial or other condition of the Customer which, in the sole determination of WFBC, materially adversely affects (a) the interest of WFBC in the Purchased Accounts, the Related Rights or the Collateral, (b) the collectibility and enforceability of the Purchased Accounts, the Related Rights or the Collateral or WFBC’s rights thereunder or (c) the ability of the Customer to perform its obligations under this Agreement or any of the Related Documents.

			
			
				 .
			

			
			
			“Multiemployer Plan” means a Plan which is a multiemployer plan as defined in Section 4001(a)(3) of ERISA.

			
			
				 .
			

			
			
			“Other Taxes” shall have the meaning set forth in Section 11.20(b).

			
			
				 .
			

			
			
			“Outstanding Balance” means, for any Purchased Account, the total amount due and payable by the Account Debtor for goods or services rendered by the Customer in respect of such Purchased Account, after reduction for any payments, discounts, credits, rebates, allowances, reserves, incentives, penalties or other reductions or similar adjustments, as determined by WFBC in it sole discretion.

			
			
				 .
			

			
			
			“Participant” shall have the meaning set forth in Section 11.02.

			
			
				 .
			

			
			
			“PBGC” means the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA (or any successor thereto).

			
			
				 .
			

			
			
			“Permitted Lien” and “Permitted Liens” shall have the meaning set forth in Section 6.13.

			
			
				 .
			

			
			
			“Person” means any individual, corporation, partnership, joint venture, limited liability company, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision of a governmental entity.

			
			
				 .
			

			
			
			“Plan” means, at a particular time, any employee benefit plan which is covered by ERISA and in respect of which the Customer or a Subsidiary is an “employer” as defined in Section 3(5) of ERISA.

			
			
				 .
			

			
			
			“Purchase Limit” means the limit WFBC sets from time to time in its sole discretion establishing the maximum gross face amount of Purchased Accounts which are approved as Acceptable Accounts at any given time owed by a particular Account Debtor.

			
			
				 .
			

			
			
			“Purchase Price” means, for any Purchased Account and the Related Rights with respect thereto, an amount equal to 90% of the gross face amount of such Purchased Account, less any charges with respect to such Purchased Account and less any amount of any trade discounts, credits or allowances, or any other reductions or adjustments to such Purchased Account taken by the Account Debtor. This percentage may be adjusted by WFBC at any time at WFBC’s sole discretion.

			
			
				 .
			

			
			
			“Purchased Account” and “Purchased Accounts” shall have the meanings set forth in Section 3.01(a).

		 

		

			5

		

		

			 

		

 

		

			 

		

			
			
				 .
			

			
			
			“Purchased Amount” means, at any time, an amount equal to (a) the aggregate Purchase Price,  minus (b) the aggregate amount paid to WFBC hereunder on account of Purchased Accounts and Related Rights, net of all fees, interest, expenses and costs hereunder.

			
			
				 .
			

			
			
			“Records” means all tangible and electronic books, records, reports and other documents and information (including hard copies of all data maintained in databases of the Customer on tapes, disks and punch cards) maintained in respect of the Purchased Accounts, the Related Rights, the Collateral and the Account Debtors.

			
			
				 .
			

			
			
			“Related Document” means any agreement, document, exhibit, notice or other written communication to which the Customer is a party or which has at any time been delivered by or on behalf of the Customer to WFBC in connection with this Agreement, including each Guaranty and each guaranty by the Customer in favor of WFBC.

			
			
				 .
			

			
			
			“Related Rights” shall have the meaning set forth in Section 3.01.

			
			
				 .
			

			
			
			“Related Security” means, with respect to the Purchased Accounts, (a) all Liens, and all property subject thereto, from time to time purporting to secure payment of any Purchased Account, including any security deposit, whether pursuant to any related agreement or otherwise; (b) all of the Customer’s right, title and interest in, to and under all guarantees, indemnities, letters of credit, insurance policies (and proceeds and premium refunds thereof) and other agreements or arrangements of whatsoever character from time to time supporting or securing payment of any Purchased Account, whether pursuant to the related agreement or otherwise; (c) all related Records; and (d) all proceeds of or relating to the foregoing and any Purchased Account.

			
			
				 .
			

			
			
			“Reorganization” means with respect to any Multiemployer Plan, the condition that such plan is in reorganization within the meaning of Section 4241 of ERISA.

			
			
				 .
			

			
			
			“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than those events as to which the thirty day notice period is waived under PBGC Reg. § 2615 or any successor regulation thereto.

			
			
				 .
			

			
			
			“Repurchase Price” means, for any Purchased Account and the Related Rights with respect thereto, (a) the lesser of (i) the Purchase Price related to such Purchased Account and the Related Rights with respect thereto and (ii) the Outstanding Balance of such Purchased Account, plus (b) all fees, costs or expenses associated with the repurchase or collection of such Purchased Account and the Related Rights with respect thereto.

			
			
				 .
			

			
			
			“Single Employer Plan” means any Plan which is covered by Title IV of ERISA, but which is not a Multiemployer Plan.

			
			
				 .
			

			
			
			“Subsidiary” means, as to any Person, any corporation or other entity of which securities or other ownership interests having ordinary voting power to elect a majority of the board of directors or other persons performing similar functions are at the time directly or indirectly owned by such Person; unless otherwise specified, “Subsidiary” means a Subsidiary of the Customer.

		 

		

			6

		

		

			 

		

 

		

			 

		

			
			
				 .
			

			
			
			“Taxes” shall have the meaning set forth in Section 11.20(a). 

			
			
				 .
			

			
			
			“Term” means, the period from the date hereof to and including August 27, 2013 and, thereafter, each subsequent twenty-four (24) month period unless WFBC or the Customer notifies the other in writing, at least sixty (60) days prior to the end of the current Term, that such party will deem this Agreement terminated on the last day of the current Term. 

			
			
				 .
			

			
			
			“Termination Date” means the earliest of (a) the last day of the current Term, (b) the date WFBC terminates this Agreement pursuant to Section 3.11, (c) the date the Customer terminates this Agreement pursuant to Section 3.11 or Section 11.02, (d) the date on which an Event of Termination described in Section 9.01(d) occurs, or (e) during the continuation of an Event of Termination, the date on which WFBC exercises its right to cease purchasing Accounts.

			
			
				 .
			

			
			
			“Unacceptable Account” means any Account which is not acceptable in WFBC’s sole discretion including the following:

			
			
				 (a)
			

			
			
			Accounts unpaid ninety (90) days or more after the invoice date;

			
			
				 (b)
			

			
			
			Accounts owed by any unit of government, whether foreign or domestic (provided, however, that Unacceptable Accounts shall not include that portion of Accounts owed by such units of government for which the Customer has provided evidence satisfactory to WFBC that (i) WFBC has a first priority perfected security interest in such Accounts and (ii) such Accounts may be enforced by WFBC directly against such unit of government under all applicable laws);

			
			
				 (c)
			

			
			
			Accounts not payable in United States Dollars;

			
			
				 (d)
			

			
			
			Any Account which is not an “account” or “payment intangible” within the meaning of Article 9 of the Uniform Commercial Code of all applicable jurisdictions;

			
			
				 (e)
			

			
			
			Any Account which (i) does not arise under a contract which is in full force and effect, (ii) does not constitute the legal, valid and binding obligation of the related Account Debtor enforceable against such Account Debtor in accordance with its terms, (iii) is subject to counterclaim, defense or other Lien (other than Permitted Liens), or (iv) is an executory contract or unexpired lease within the meaning of Section 365 of the Bankruptcy Code;

			
			
				 (f)
			

			
			
			Any Account which arises under a contract which (i) does not contain an obligation to pay a specified sum of money or is subject to contingencies, (ii) requires the Account Debtor under such contract to consent to the sale, transfer or assignment of the rights to payment under such contract, (iii) limits or restricts the sale, transfer or assignment (whether absolutely or by way of security) of such contract, or (iv) contains a confidentiality provision that purports to restrict WFBC’s exercise of rights under this Agreement, including the right to review such contract; 

			
			
				 (g)
			

			
			
			Any Account which, in whole or in part, contravenes any law, rule or regulation applicable thereto (including those relating to usury, truth in lending, fair credit billing, fair credit reporting, equal credit opportunity, fair debt collection practices and privacy), which contravention would reasonably be expected to have a Material Adverse Effect;

		 

		

			7

		

		

			 

		

 

		

			 

		

			
			
				 (h)
			

			
			
			Accounts owed by an Account Debtor which (i) is not acceptable to WFBC or (ii) is located outside the United States or Canada;

			
			
				 (i)
			

			
			
			Accounts owed by an Account Debtor that is insolvent, the subject of an Insolvency Proceeding or has ceased doing business;

			
			
				 (j)
			

			
			
			Accounts owed by an owner, shareholder, Subsidiary, Affiliate, officer or employee of the Customer;

			
			
				 (k)
			

			
			
			Accounts not beneficially or legally owned by the Customer immediately prior to purchase by WFBC;

			
			
				 (l)
			

			
			
			Accounts which represent indebtedness of an Account Debtor that constitutes an illegal, invalid or unenforceable obligation of such Account Debtor to pay the amount thereof on the maturity date stated therein;

			
			
				 (m)
			

			
			
			Accounts which, upon purchase by WFBC, are not subject to a duly perfected Lien in WFBC’s favor or which are subject to any Lien in favor of any Person other than WFBC, including any payment or performance bond;

			
			
				 (n)
			

			
			
			Accounts that have been restructured, extended, amended or modified;

			
			
				 (o)
			

			
			
			Any Account whose sale, transfer or assignment (whether absolutely or by way of security) is limited or restricted by the terms of the contract evidencing or relating to such Account (unless such limitation or restriction has been complied with and WFBC is satisfied in its sole discretion that the sale, transfer or assignment of such Account hereunder is valid and effective);

			
			
				 (p)
			

			
			
			That portion of Accounts that constitutes freight fees, allowances, finance charges, service charges or sales or excise taxes;

			
			
				 (q)
			

			
			
			Accounts that have been invoiced, paid or partially paid in advance of the full delivery and acceptance of goods or the performance and acceptance of services or in advance of the submission of such Accounts to WFBC;

			
			
				 (r)
			

			
			
			Any Account which was not generated in the ordinary course of the Customer’s business;

			
			
				 (s)
			

			
			
			Any Account as to which not all of the related invoices have been made available to WFBC in a form acceptable to WFBC, and which are not included in an Assignment and Schedule of Accounts acceptable to WFBC in its sole discretion prior to the proposed purchase of such Accounts;

			
			
				 (t)
			

			
			
			Any Account which is subject to any asserted reduction (including any reduction on account of any offsetting account payable of the related Account Debtor or the Customer to an Account Debtor), cancellation, rebate or refund or any dispute, offset, counterclaim, Lien or defense whatsoever; provided that an Account that is subject only in part to any of the foregoing but otherwise qualifies as an Acceptable Account (as determined by WFBC in its sole discretion) 
		

		 

		

			8

		

		

			 

		

 

		

			 

		

		shall be an Acceptable Account to the extent not subject to reduction, cancellation, refund, dispute, offset, counterclaim, Lien or other defense;

			
			
				 (u)
			

			
			
			Accounts which would cause the Purchase Limit for such Account Debtor to be exceeded; 

			
			
				 (v)
			

			
			
			Accounts which would cause the Purchased Amount to exceed the Facility Maximum; and

			
			
				 (w)
			

			
			
			Accounts, or portions thereof, that fail to conform to the representations and warranties contained herein or are otherwise deemed unacceptable by WFBC in its sole discretion.

			
			
				 .
			

			
			
			“Uniform Commercial Code” means the Uniform Commercial Code as in effect from time to time in the State of Colorado; provided, however, to the extent the law of any other state or other jurisdiction applies to the attachment, perfection, priority or enforcement of any Lien granted to WFBC in any of the Collateral, “Uniform Commercial Code” means the Uniform Commercial Code as in effect in such other state or jurisdiction for purposes of the provisions hereof relating to such attachment, perfection, priority or enforcement of a Lien in such Collateral.  To the extent this Agreement defines the term “Collateral” by reference to terms used in the Uniform Commercial Code, each of such terms shall have the broadest meaning given to such terms under the Uniform Commercial Code as in effect in any state or other jurisdiction.

			
			
				 .
			

			
			
			“Wells Receivers” shall have the meaning set forth in Section 11.17.

			
			
				 .
			

			
			
			“WFBC Discount” means, with respect to each Purchased Account and the Related Rights with respect thereto, an amount equal to the lesser of (i) the sum of LIBOR, which interest rate shall change whenever LIBOR changes, plus six and seventeen hundredths of one percent (6.17%) per annum, or (ii) the lawful maximum, if any, in effect from time to time for advances to customers of the type, in the amount, for the purposes and otherwise of the kind herein contemplated.  Upon the occurrence and during the continuation of an Event of Termination, with respect to each Purchased Account and the Related Rights with respect thereto, the WFBC Discount shall be equal to the sum of LIBOR, which interest rate shall change whenever LIBOR changes, plus nine and seventeen hundredths of one percent (9.17%) per annum, or such lesser amount as WFBC in its sole discretion may determine (but in no event shall such fee be more than the lawful maximum, if any, in effect from time to time for advances of the type, in the amount, for the purposes and otherwise of the kind herein contemplated).  The WFBC Discount shall be calculated on the basis of a 360-day year for the actual number of days elapsed.  WFBC may increase the WFBC Discount if WFBC’s cost of funds increases for any reason.  Such change shall be effective upon the actual change in WFBC’s cost of funds. 

			
			
				 .
			

			
			
			“WFBC Discount Fee” shall have the meaning set forth in Section 3.08(a).

			
			
				 .
			

			
			
			
Purchase and Assignment of Accounts

			
			
				 .
			

			
			
			Purchase and Assignment of Accounts.  Pursuant to the terms herein and in consideration for amounts paid to the Customer on the date hereof as well as amounts paid to the 
		

		 

		

			9

		

		

			 

		

 

		

			 

		

		Customer during the term hereof, the Customer hereby agrees to sell, transfer and assign to WFBC, with recourse, as absolute owner, and WFBC hereby agrees to purchase from the Customer, during the period from the Closing Date to but excluding the Termination Date, as of the date of each delivery of each Assignment and Schedule of Accounts acceptable to WFBC in its sole discretion, all of the Customer’s right, title and interest in and to the following:

			
			
				 (a)
			

			
			
			Each Acceptable Account generated by the Customer which is offered for sale, transfer and assignment by the Customer pursuant to an Assignment and Schedule of Accounts delivered to WFBC by the Customer and accepted by WFBC in its sole discretion (collectively, the “Purchased Accounts” and each, a “Purchased Account”);

			
			
				 (b)
			

			
			
			All rights of action (including all rights of stoppage in transit, replevin, repossession, reclamation, setoff, detinue, repurchase and all other rights of action of a consignor, consignee, unpaid vendor, mechanic, artisan or other lienor) accrued or to accrue on each Purchased Account, including full power to collect, sue for, compromise, assign, in whole or in part, or in any other manner enforce collection thereof in the Customer’s name or otherwise;

			
			
				 (c)
			

			
			
			All right, title and interest of the Customer in and to the Records, the Related Security, all agreements, documents or instruments relating to the Purchased Accounts and the proceeds thereof, and all deposits and other security for the obligation of any Person under or relating to the Purchased Accounts, in each case whether presently existing or hereafter arising, now owned or hereafter acquired;

			
			
				 (d)
			

			
			
			All inventory and goods relating to, or which by sale have resulted in, Purchased Accounts, including all returned inventory and goods; and

			
			
				 (e)
			

			
			
			All proceeds of the foregoing in any form (collectively, with the assets described in Section 3.01(b), Section 3.01(c), and Section 3.01(d), the “Related Rights”).

		
			The foregoing sales, transfers and assignments do not constitute, and are not intended to result in, an assumption by WFBC of any liability or obligation of the Customer or any other Person in connection with the Purchased Accounts, the Related Rights or under any agreement or instrument relating thereto.
		

			
			
				 .
			

			
			
			Approval.  WFBC shall not purchase an Account and the Related Rights with respect thereto unless such Account is first submitted to WFBC by the Customer for approval.  WFBC is not obligated to buy from the Customer any Account and the Related Rights with respect thereto that WFBC does not deem acceptable in its sole discretion. 

			
			
				 .
			

			
			
			Required Forms.  When the Customer offers an Account and the Related Rights with respect thereto to WFBC for sale, transfer and assignment, WFBC shall receive (a) an Assignment and Schedule of Accounts, in a form satisfactory to WFBC in its sole discretion and signed by an authorized representative of the Customer, (b) an original invoice or an electronic equivalent thereof, either of which must be in a form acceptable to WFBC in its sole discretion, (c) a copy of the bill of lading if applicable, (d) proof of delivery, (e) contract, purchase order, or purchase order number which corresponds with such invoice, as appropriate to the business of the Customer, (f) notification of assignment and waiver of offset signed by the applicable 
		

		 

		

			10

		

		

			 

		

 

		

			 

		

		Account Debtor in a form acceptable to WFBC in its sole discretion,  and (g) any other document which WFBC may require. 

			
			
				 .
			

			
			
			Purchase.  Upon approval and acceptance by WFBC of an Account and the Related Rights with respect thereto for the sale, transfer and assignment to WFBC of such Account and such Related Rights, WFBC shall purchase and the Customer shall sell, transfer and assign to WFBC such Account and such Related Rights.  

			
			
				 .
			

			
			
			Purchase Price.  As consideration for the sale, transfer and assignment to WFBC of an Account and the Related Rights with respect thereto, WFBC shall pay to the Customer the Purchase Price for such Account and such Related Rights on the terms and conditions as stated herein.

			
			
				 .
			

			
			
			Payment of Purchase Price.   Upon the sale, transfer and assignment of an Account and the Related Rights with respect thereto to WFBC, and receipt of all documents and forms described in Section 3.03 and upon fulfillment of all conditions precedent to such sale, transfer and assignment as more fully set forth herein, WFBC shall pay the Purchase Price for such Purchased Account and such Related Rights to the Customer as follows, as determined by WFBC in its sole discretion:   (i) WFBC shall pay such Purchase Price to the Customer or to any third party at the Customer’s written direction to WFBC, or (ii) WFBC shall advance such Purchase Price to the Collected Reserve Account.

			
			
				 .
			

			
			
			Repurchase of Accounts.  The Customer shall (a) repurchase any and all Purchased Accounts and the Related Rights with respect thereto, whether disputed or undisputed, as may be requested by WFBC, from time to time in its sole discretion, and (b) pay on demand the Repurchase Price for such Purchased Accounts and the Related Rights with respect thereto.    In any event where repurchase is required under this Agreement, WFBC, at its discretion, may charge the Repurchase Price to the Customer’s Collected Reserve Account which may create a deficit balance in the Collected Reserve Account.

			
			
				 .
			

			
			
			Fees.  

			
			
				 (a)
			

			
			
			WFBC Discount Fee.  The Customer shall pay WFBC a fully earned fee equal to the product of the WFBC Discount multiplied by the aggregate Outstanding Balance of the Purchased Accounts (the “WFBC Discount Fee”).  The WFBC Discount Fee shall accrue daily and shall be due and payable in arrears on the last day of each month and on the Final Termination Date.

			
			
				 (b)
			

			
			
			Audit Fees.  The Customer shall pay WFBC, on demand, audit fees in connection with any audits or inspections conducted by WFBC of the Purchased Accounts, the Related Rights, the Collateral or the Customer’s operations or business, at the rates established from time to time by WFBC as its audit fees, together with all actual out of pocket costs and expenses incurred in conducting any such audit or inspection; provided that the Customer shall not, with the exception of fees, costs, and expenses incurred during the continuation of an Event of Termination, be required to reimburse WFBC for more than two (2) such audits or inspections in any calendar year.

		 

		

			11

		

		

			 

		

 

		

			 

		

			
			
				 (c)
			

			
			
			Termination Fee.    If the Termination Date occurs before the last day of the then current Term, including any renewal Terms, in addition to any and all other amounts due hereunder, the Customer shall pay to WFBC an early termination fee equal to the product of (i) one percent (1.0%) times the Aggregate Facility Maximum times (ii) a fraction, the numerator of which is the average Purchased Amount for the six-month period ending on the date such termination fee is paid and the denominator of which is the sum of the average Purchased Amount for the six-month period ending on the date such termination fee is paid plus the average Purchased Amount (as defined in each Affiliate Account Purchase Agreement) for the six-month period ending on the date such termination fee is paid under each Affiliate Account Purchase Agreement.

			
			
				 .
			

			
			
			Mandatory Payments.  Unless WFBC shall otherwise consent in a written agreement that sets forth the terms and conditions which WFBC in its discretion may deem appropriate, if the Purchased Amount is at any time greater than the Facility Maximum, the Customer shall pay to WFBC, upon demand, the amount necessary to eliminate such excess.  Any such payment received by WFBC under this Agreement may be applied to the amounts owing to WFBC from the Customer, in such order and in such amounts as WFBC in its sole discretion may determine from time to time.

			
			
				 .
			

			
			
			Collected Reserve Account and Reporting and Statement of Account.   

			
			
				 (a)
			

			
			
			After collection by WFBC of a Purchased Account and the Related Rights with respect thereto, if any, WFBC shall credit the Collected Reserve Account with the amount collected on such Purchased Account and such Related Rights less:  (i) the Purchase Price, and (ii) any fees, expenses or charges owed to WFBC as more fully described herein.  Any fee, charge or other obligation of the Customer under this Agreement or any Related Document may be charged against the Collected Reserve Account in WFBC’s sole discretion.    Provided no Event of Termination has occurred and is continuing, or any event has occurred which with the passage of time or notice would be an Event of Termination, any available balance held in the Collected Reserve shall be released twice weekly to the Customer or to any third party, at the Customer’s written direction to WFBC.  Upon the occurrence and during the continuation of an Event of Termination, or the continuation of an event which with the passage of time or notice would become an Event of Termination, WFBC may hold any balance in the Collected Reserve Account as Collateral for any obligations of the Customer to WFBC and WFBC may charge any such obligations against the Collected Reserve Account in its sole discretion. 

			
			
				 (b)
			

			
			
			On a weekly basis, or as otherwise determined by WFBC at its sole discretion, WFBC shall prepare, and make available to the Customer through WFBC’s online reporting system referred to as “Commercial Electronic Office” or any replacement thereof, an accounting of the purchases, collections, and amounts credited to or charged against the Collected Reserve Account during that week or other period.  Should such a statement of account indicate a deficit balance, such balance shall be due and payable and the Customer shall immediately pay to WFBC the amount of such deficit plus accrued interest on such deficit balance.  Interest shall accrue on any deficit balance at the annual rate of eighteen percent (18%), calculated on a daily basis, not to exceed the applicable legal limit, until such deficit is paid in full.

		 

		

			12

		

		

			 

		

 

		

			 

		

			
			
				 .
			

			
			
			Termination of this Agreement.  The Customer may terminate this Agreement at any time if it (a) gives WFBC at least thirty (30) days advance written notice prior to the proposed Termination Date and (b) pays WFBC applicable termination fees in accordance with the terms of this Agreement.  If the Customer terminates this Agreement, on such Termination Date, (x) all amounts due hereunder shall be immediately due and payable and (y) the Customer shall repurchase all outstanding Purchased Accounts and the Related Rights with respect thereto and immediately pay the Repurchase Price for such Purchased Accounts and the Related Rights with respect thereto.  If any Affiliate Account Purchase Agreement is terminated, then, in WFBC’s sole discretion, WFBC may terminate this Agreement, and (x) all amounts due hereunder, including applicable termination fees, shall be immediately due and payable and (y) the Customer shall repurchase all outstanding Purchased Accounts and the Related Rights with respect thereto and immediately pay the Repurchase Price for such Purchased Accounts and the Related Rights with respect thereto. 

			
			
				 .
			

			
			
			Sole Property.  Once WFBC has purchased an Account, any and all payments from whatever source as to such Purchased Account are the sole property of WFBC.

			
			
				 .
			

			
			
			Credit Risk.  The purchase of Accounts hereunder shall be on a full recourse to Customer basis.

			
			
				 .
			

			
			
			Miscellaneous Payments.  Should WFBC receive a duplicate payment on a Purchased Account or other payment which is not identified, WFBC shall carry these sums as open items in its accounting, shall return any duplicate payment to the Account Debtor or apply such unidentified payment pursuant to the terms hereof upon proper identification and documentation and shall use commercially reasonable efforts to notify the Customer thereof (provided that WFBC’s failure to do so shall not be a breach of this Agreement).  In the event WFBC receives payment on an Account which has not been purchased hereunder and can be identified as being the property of the Customer, such payment will be credited to the Collected Reserve Account and released in accordance with this Agreement.

			
			
				 .
			

			
			
			Misdirected Payments.  With respect to misdirected payments, whenever any payment on any Purchased Account comes into the Customer’s possession, the Customer shall hold such payment in trust and safekeeping, as the property of WFBC, and immediately turn over to WFBC such payment in the same form as it was received by the Customer to WFBC. The Customer shall pay a misdirected payment fee in the amount of fifteen percent (15%) of the amount of any payment on account of a Purchased Account which has been received by the Customer and not delivered in kind to WFBC on the next Business Day following the date of receipt by the Customer.  Further, the Customer shall segregate and hold in trust and safekeeping, as the property of WFBC, and immediately turn over to WFBC, any goods or inventory returned to, reclaimed or repossessed by the Customer which constitute Related Rights related to a Purchased Account.

			
			
				 .
			

			
			
			Repayment of Account Debtor.  In the event WFBC is required to repay any Account Debtor for a payment received by WFBC on an Account or Related Right, the amount of the repayment by WFBC shall be an obligation of the Customer to WFBC whether or not this Agreement has been terminated.  In the event the Customer receives a payment from WFBC to which the Customer has no rights, repayment of the funds to WFBC is an obligation of the 
		

		 

		

			13

		

		

			 

		

 

		

			 

		

		Customer to WFBC whether or not this Agreement has been terminated.  In either event, if the obligation is not paid upon five (5) days notice of the obligation to pay from WFBC to the Customer, WFBC may file a financing statement in connection with the security interest granted herein (if necessary) or otherwise perfect its interest in the Collateral and exercise any and all rights it has under this Agreement, any Related Document or otherwise to collect the amounts due. 

			
			
				 .
			

			
			
			Hold Harmless.  The Customer shall hold WFBC harmless against any Account Debtor ill will arising from WFBC’s collecting or attempting to collect on any Purchased Account and the Related Rights with respect thereto, provided that WFBC acts in a commercially reasonable manner.

			
			
				 .
			

			
			
			Book Entry.  The Customer shall, immediately upon sale to WFBC of each Account and the Related Rights with respect thereto, make proper entries on its books and records disclosing the absolute sale of such Accounts to WFBC on said books and records and other documents as so directed by WFBC.

			
			
				 .
			

			
			
			Third Party Information.  In the event WFBC provides financial information to the Customer regarding a third party, whether by setting a Purchase Limit, at the request of the Customer or otherwise, the Customer understands that WFBC is not making any representations or warranties or expressing an opinion as to the creditworthiness of any such third party.

			
			
				 .
			

			
			
			Payment Terms.

			
			
				 (a)
			

			
			
			All accrued and unpaid fees, expenses, default interest, costs and any other amounts due from the Customer shall be due and payable (i) on the date set forth herein or, if no date is set forth herein, upon demand by WFBC, and (ii) on the Final Termination Date.  Whenever any payment to be made hereunder shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of the fees, expenses, interest, costs and any other amounts due hereunder, as the case may be.

			
			
				 (b)
			

			
			
			All amounts to be paid by or deposited hereunder will be paid or deposited not later than 1:00 p.m. (Denver, Colorado time) on the day when due in same day funds.  All computations of interest and fees shall be calculated for the actual days elapsed based on a 360 day year.

			
			
				 (c)
			

			
			
			Amounts due to WFBC hereunder shall be remitted to WFBC in United States Dollars.

			
			
				 (d)
			

			
			
			The Customer shall pay, as a full recourse obligation, all fees, interest, costs and expenses, including all amounts payable under Section 11.07.

			
			
				 (e)
			

			
			
			The Customer will pay on demand to WFBC interest (before and after default and before and after judgment, with interest on overdue interest at the same rate) on all amounts not paid to or deposited when due hereunder (other than amounts due under Section 3.10(b)) at a rate equal to LIBOR, which interest rate shall change whenever LIBOR changes, plus nine and seventeen hundredths of one percent (9.17%) per annum calculated daily.

		 

		

			14

		

		

			 

		

 

		

			 

		

			
			
				 (f)
			

			
			
			The Customer will make all payments required to be made by it hereunder without deduction or setoff regardless of any defense or counterclaim.

			
			
				 (g)
			

			
			
			The Customer acknowledges that (i) WFBC may maintain records of the Purchased Amount, all Purchased Accounts, all proceeds of Collateral and all amounts paid by the Customer to WFBC hereunder, including all fees, interest, costs and expenses; (ii) such records shall, absent manifest error, be conclusive evidence thereof and (iii) the failure of WFBC to maintain any such records shall not limit or otherwise affect the obligations of the Customer or the rights and remedies of WFBC hereunder or under any Related Document.

			
			
				 (h)
			

			
			
			
Conditions Precedent

			
			
				 .
			

			
			
			Conditions Precedent to Initial Purchase.  Prior to the initial purchase hereunder, the Customer shall deliver to WFBC, unless waived by it, the following items and documents, in form and substance satisfactory to WFBC:

			
			
				 (a)
			

			
			
			an executed copy of this Agreement;

			
			
				 (b)
			

			
			
			(i) a certificate of an officer of the Customer containing a copy of its articles of incorporation and bylaws, an appropriate resolution of its directors, and the names and true signatures of the officers authorized to sign this Agreement and the Related Documents on its behalf, and (ii) a certificate of an officer of the Customer containing the names and true signatures of the officers authorized to sign all reports and other submissions under this Agreement and the Related Documents on its behalf, on which certificates WFBC shall be entitled to conclusively rely until such time as WFBC receives from the Customer a replacement certificate meeting the requirements of this Section 4.01(b)(i) or (ii), as the case may be;

			
			
				 (c)
			

			
			
			a certificate of status, good standing or compliance in respect of the Customer issued by its jurisdiction of incorporation and a certificate of status, good standing or compliance in respect of the Customer issued by the appropriate authorities in each jurisdiction in which the Customer is required to be registered in order to conduct its business; 

			
			
				 (d)
			

			
			
			a guaranty by the Customer guaranteeing the obligations owing under each Affiliate Account Purchase Agreement;

			
			
				 (e)
			

			
			
			an amendment to each Affiliate Account Purchase Agreement;

			
			
				 (f)
			

			
			
			a  tri-party agreement by and among the Customer, TS Employment Inc. and WFBC;

			
			
				 (g)
			

			
			
			favorable legal opinions of counsel to the Customer, in form and substance satisfactory to WFBC;

			
			
				 (h)
			

			
			
			executed copies of all discharges and releases, if any, necessary to discharge or release all Liens (other than Permitted Liens) and other rights or interests of any Person in the Purchased Accounts, the Related Rights or the Collateral previously granted by the Customer, together with file stamped copies of the relevant UCC-3 financing statements;

		 

		

			15

		

		

			 

		

 

		

			 

		

			
			
				 (i)
			

			
			
			current searches of appropriate filing offices showing that (i) no Liens have been filed and remain in effect against the Customer except Permitted Liens or Liens held by Persons who have agreed in writing that upon receipt of proceeds of the initial purchase, they will satisfy, release or terminate such Liens in a manner satisfactory to WFBC, and (ii) WFBC has duly filed all financing statements necessary to perfect its Lien on the Purchased Accounts, the Related Rights and the Collateral to the extent it is capable of being perfected by filing, and such other similar instruments or documents as may be necessary and, in WFBC’s reasonable discretion, advisable under any applicable statute to perfect, record or protect WFBC’s interest in the Purchased Accounts, the Related Rights or the Collateral; 

			
			
				 (j)
			

			
			
			payment of all fees due under the terms of this Agreement through the date of the initial purchase and payment of all expenses incurred by WFBC and through such date and that are required to be paid by the Customer under this Agreement; 

			
			
				 (k)
			

			
			
			a payoff letter from Amerisource Funding, Inc.;

			
			
				 (l)
			

			
			
			an amendment to the participation agreement between WFBC and Sterling National Bank; and

			
			
				 (m)
			

			
			
			such other approvals, opinions or documents as WFBC in its sole discretion may require.

			
			
				 .
			

			
			
			Conditions Precedent to Subsequent Purchases.  Each subsequent purchase of an Account and the Related Rights with respect thereto shall be subject to the conditions precedent that, on the date of such purchase before and after giving effect to such purchase, (a) the Customer has delivered to WFBC an Assignment and Schedule of Accounts acceptable to WFBC in its sole discretion which includes the Accounts to be purchased, (b) the representations and warranties of the Customer hereunder are correct on and as of the date of such purchase as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date and (c) no event has occurred and is continuing, or would result from such purchase, which constitutes an Event of Termination or would constitute an Event of Termination but for the requirement that notice be given or time elapse or both.

			
			
				 .
			

			
			
			Initial Purchase.  The Customer authorizes WFBC to make the initial purchase hereunder in an amount equal to the Payoff Amount (as defined in that certain Buyout Agreement by and among WFBC, the Customer and Amerisource Funding, Inc. dated on or about the date hereof) and to pay the proceeds thereof to Amerisource Funding, Inc. for application to the indebtedness and obligations of the Customer to Amerisource Funding, Inc.

			
			
				 .
			

			
			
			
The Customer’s Representations and Warranties

		
			The Customer hereby represents and warrants to WFBC as follows and any request by the Customer to sell, transfer and assign Accounts to WFBC will be deemed a representation by the Customer that all representations and warranties in this Article 5 are true, correct and complete as of the time of the request, unless they relate exclusively to an earlier date:
		

		 

		

			16

		

		

			 

		

 

		

			 

		

			
			
				 .
			

			
			
			Existence and Trade Names.  The Customer is duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation and is duly qualified to carry on business in each jurisdiction in which the failure to be so qualified could reasonably be expected to have a Material Adverse Effect.  Attached as Exhibit A is a true, correct and complete list of (a) the legal name of the Customer, each Affiliate of the Customer that is a party to an Affiliate Account Purchase Agreement and STS Group, Inc. and (b) each trade name, DBA or other fictitious name used by the Customer, each Affiliate of the Customer that is a party to an Affiliate Account Purchase Agreement and STS Group, Inc., which Exhibit A may be updated from time to time as set forth in Section 6.18  Where necessary, such trade names have been properly filed and published as required by applicable law.

			
			
				 .
			

			
			
			Corporate Power and Authority.  The Customer has all requisite corporate power and authority to execute and deliver, and to perform all of its obligations under, this Agreement and all of the Related Documents to which it is a party.

			
			
				 .
			

			
			
			Corporate Action.  The Customer has taken all necessary corporate action to authorize the execution, delivery and performance of this Agreement and all of the Related Documents to which it is a party.

			
			
				 .
			

			
			
			Authorization.  The execution, delivery and performance by the Customer of this Agreement and all of the Related Documents to which it is a party have been duly authorized and do not require the consent or approval of the Customer’s shareholders.

			
			
				 .
			

			
			
			Binding Effect.  This Agreement and all of the Related Documents to which it is a party have been duly executed and delivered by the Customer and constitute the legally binding obligation of the Customer enforceable against it in accordance with their terms, subject to applicable bankruptcy, reorganization, insolvency, moratorium and other similar laws affecting creditors’ rights generally and equitable principles of general application (regardless of whether enforcement is sought in a proceeding at law or in equity).

			
			
				 .
			

			
			
			No Contravention; No Consent Required.  The Customer’s execution and delivery of this Agreement or any Related Document to which it is a party and compliance with their respective terms and conditions will not (a) result in a violation of the Customer’s articles of incorporation or bylaws or any resolutions passed by the Customer’s directors or shareholders; (b) result in a violation of any applicable law, rule, regulation, order, judgment, injunction, award or decree; (c) result in a breach of, or constitute a default under, any loan agreement, indenture, trust deed or any other agreement or instrument to which the Customer is a party or by which it is bound which could reasonably be expected to have a Material Adverse Effect; (d) require any approval or consent of, or any notice to or filing with, any governmental authority or agency having jurisdiction except such as has already been obtained, or (e) result in, or require, the creation or imposition of any Lien (other than Permitted Liens) upon or with respect to any of the properties now owned or subsequently acquired by the Customer.  

			
			
				 .
			

			
			
			Chief Executive Office.  The Customer’s chief executive office is at the location(s) set out under the Customer’s name on the signature pages to this Agreement.  All other places of business have been disclosed on the application provided to WFBC.

		 

		

			17

		

		

			 

		

 

		

			 

		

			
			
				 .
			

			
			
			Solvency of the Customer.  The Customer is solvent and is not subject to any Insolvency Proceeding. 

			
			
				 .
			

			
			
			Taxes.  The Customer has made and shall continue to make timely payment and remittance to applicable governmental authorities of all taxes and other amounts required to be paid and remitted by the Customer pursuant to applicable law, except (a) for such taxes as may be contested by the Customer in good faith and for which appropriate reserves have been established as determined by WFBC in its sole discretion and (b) for taxes the non-payment of which would not materially adversely affect the interest of WFBC in the Purchased Accounts, the Related Rights or the Collateral or the collectibility and enforceability of the Purchased Accounts, the Related Rights or the Collateral or WFBC’s rights thereunder.

			
			
				 .
			

			
			
			Good Title; No Liens.  The Customer is, at the time of purchase of each Account and the Related Rights with respect thereto by WFBC, the lawful owner of and has good and undisputed title to such Account and the Related Rights with respect thereto.  At the time of purchase, each Account and the Related Rights with respect thereto are free from any Liens other than Permitted Liens.  Each Account offered for sale, transfer and assignment to WFBC is an Acceptable Account.

			
			
				 .
			

			
			
			Solvency of Account Debtors.  To the best of the Customer’s information and knowledge, each Account Debtor’s business is solvent at the time of this Agreement and at the time each Account of such Account Debtor and the Related Rights with respect thereto are presented to WFBC for purchase.

			
			
				 .
			

			
			
			Accounts Undisputed; Transferable.  Each Account or portion thereof, as the case may be, offered for sale, transfer and assignment to WFBC (a) is an accurate and undisputed statement of indebtedness owed by the applicable Account Debtor to the Customer for a certain sum which is due and payable in thirty (30) days or less, or within such term as is agreed to by WFBC and the Customer, and (b) is for a bona fide sale, delivery and acceptance of merchandise or performance of services which have been received and finally accepted by such Account Debtor.  The Customer has all rights to sell, transfer or assign such Accounts and the Related Rights with respect thereto to WFBC and such Accounts and the Related Rights with respect thereto are payable by the applicable Account Debtor without offset, deduction or counterclaim.

			
			
				 .
			

			
			
			No Ownership; Control of Account Debtors.  The Customer does not own, control or exercise dominion over, in any way whatsoever, any Account Debtor or the business of any Account Debtor for whom Accounts are to be, or have been, sold by the Customer to WFBC.

			
			
				 .
			

			
			
			Accuracy of Information.  All of the Records and all other records, statements, books or other written information shown to WFBC by the Customer at anytime, either before or after the signing of this Agreement, are true and accurate in all material respects.

			
			
				 .
			

			
			
			No Actions; Suits.  There is no action, suit or proceeding at law or in equity or by or before any governmental instrumentality or other agency now pending, or to the knowledge of the Customer, threatened against or affecting the Customer, which if adversely determined, would have a Material Adverse Effect.

		 

		

			18

		

		

			 

		

 

		

			 

		

			
			
				 .
			

			
			
			Material Adverse Effect.  Since the date of the Customer’s most recent audited financial statements, there has been no Material Adverse Effect.

			
			
				 .
			

			
			
			TS Employment Inc.  The Customer outsources the management of human resources, employee benefits, payroll and other services to TS Employment Inc., a professional employer organization.  The Customer does not outsource such services to any other Person, other than TS Employment Inc.

			
			
				 .
			

			
			
			
The Customer’s Covenants

		
			The Customer agrees as follows:
		

			
			
				 .
			

			
			
			Compliance with Governing Documents; Laws.  The Customer will comply in all material respects with its articles of incorporation and bylaws and all applicable laws, rules, regulations and orders with respect to it, its properties, and all Purchased Accounts and the Related Rights with respect thereto, and will preserve and maintain its existence, rights, franchises, qualifications, and privileges in the jurisdiction of its organization, and qualify and remain qualified in good standing in each jurisdiction where the failure to be so qualified could result in a Material Adverse Effect.

			
			
				 .
			

			
			
			Accounts Free from Defenses, etc.  The Customer will ensure that none of the Accounts presented for purchase, the Purchased Accounts or the Related Rights is subject to any defense, withholding, setoff, counterclaim, deduction, discount or any dispute with respect to underlying goods or services, and that each such Account and the Related Rights with respect thereto are free of any claim by the applicable Account Debtor.

			
			
				 .
			

			
			
			Compliance with Account Debtor Agreements.  The Customer will, at its own expense, timely and fully perform and comply with all material provisions, covenants and other promises required to be observed by it under the agreements with its Account Debtors and under all other agreements related to any Purchased Accounts or Related Rights.  WFBC’s exercise of any rights hereunder shall not relieve the Customer from such obligations.  The Customer will not make any change in the character of its business that could (a) result in a Material Adverse Effect or (b) result in a Purchased Account becoming an Unacceptable Account.

			
			
				 .
			

			
			
			Ensure Payment of Purchased Accounts; Defend WFBC Title.  The Customer will (a) take all steps reasonably necessary or reasonably requested by WFBC to (i) ensure payment of all Purchased Accounts and the Related Rights with respect thereto by the Account Debtors and (ii) defend the title of WFBC to each Purchased Account and the Related Rights with respect thereto and the proceeds thereof against the claims of all other Persons and (b) consult with WFBC with respect to any actions taken pursuant to clause (a) hereof.

			
			
				 .
			

			
			
			Delivery of Instruments, etc.  Upon request by WFBC after the occurrence and during the continuation of an Event of Termination, the Customer will promptly deliver to WFBC in pledge all instruments, documents and chattel paper constituting Collateral or otherwise evidencing any Purchased Account or the Related Rights with respect thereto, duly endorsed or assigned by the Customer.

		 

		

			19

		

		

			 

		

 

		

			 

		

			
			
				 .
			

			
			
			Payment Instructions.  The Customer will not issue any payment instructions to any Account Debtor other than in accordance with the terms of this Agreement and the Related Documents.  The Customer will not alter any electronic or other instruction, code or password which could result in payment from an Account Debtor being made to any Person other than WFBC.

			
			
				 .
			

			
			
			Reporting Requirements.  The Customer will provide to WFBC the following:    

			
			
				 (a)
			

			
			
			as soon as available and in any event within 30 days after the end of each month, year-to-date unaudited financial statements of the Customer and its Subsidiaries including a statement of monthly income and a balance sheet of the Customer and its Subsidiaries, certified by an authorized officer of the Customer and its Subsidiaries, as applicable;

			
			
				 (b)
			

			
			
			as soon as available and in any event within 120 days after the Customer’s fiscal year end, the Customer’s and each Subsidiary’s audited financial statements prepared by an independent certified public accountant acceptable to WFBC, which shall include the Customer’s and each Subsidiary’s balance sheet, income statement, and statement of retained earnings, prepared, if requested by WFBC, on a consolidated and consolidating basis to include Corporate Resource Services, Inc. and each Subsidiary of Corporate Resource Services, Inc.;

			
			
				 (c)
			

			
			
			within 30 days after the end of each month, the Customer will deliver to WFBC a certificate in form acceptable to WFBC in its reasonable discretion which is signed by an officer of the Customer and shall include:  (i) a compliance certificate regarding the occurrence of an Event of Termination and (ii) a listing by Account Debtor of the outstanding Purchased Accounts of such Account Debtor, as of the last day of such month, determined in accordance with this Agreement and the instructions of WFBC;  

			
			
				 (d)
			

			
			
			within 30 days after the end of each month, the Customer will deliver to WFBC a detailed accounts receivable aging and a detailed accounts payable aging, each as of the last day of such month and each in form acceptable to WFBC in its reasonable discretion;

			
			
				 (e)
			

			
			
			promptly upon discovery, written notice of any commercial tort claims brought by the Customer against any Person with respect to a Purchased Account, any Related Rights or any Collateral, including the name and address of each defendant, a summary of the facts, an estimate of the Customer’s damages, copies of any complaint or demand letter submitted by the Customer, and such other information as WFBC may request; and

			
			
				 (f)
			

			
			
			such other information documents, records or reports in respect of the Purchased Accounts, the Related Rights, the Collateral or the condition or operations, financial or otherwise, of the Customer or any of its Subsidiaries as WFBC may from time to time reasonably request.

		 

		

			20

		

		

			 

		

 

		

			 

		

			
			
				 .
			

			
			
			Notification.  Prior to purchasing any Account, WFBC may notify the Account Debtor owing such Account of the assignment of all Accounts and instruct such Account Debtor to make payment on all Accounts directly to WFBC.

			
			
				 .
			

			
			
			Notation on Invoices.  The Customer shall make a notation on each original invoice (or the electronic equivalent of an invoice) or other such documentation accepted by WFBC for each Account which indicates that such Account has been sold, transferred and assigned to WFBC.  Such notation shall read as follows or as otherwise agreed to by WFBC in writing:

		
			This invoice has been sold, transferred and assigned to
		

		
			and is payable to:
		

		
			Wells Fargo BANK, N.A.
		

		
			PO Box 911494
		

		
			Denver, Colorado  80291-1494
		

		
			For information call 954-761-4027
		

		
			 
		

		
			Wire Instructions:
		

		
			Wells Fargo Bank, N.A.
		

		
			San Francisco, CA
		

		
			ABA# 121000248
		

		
			For credit to Wells Fargo/Wells Fargo Business Credit
		

		
			For further credit to Accountabilities, Inc.
		

		
			Acct# 6355033300
		

		
			In addition, the Customer shall make a notation, in form and substance acceptable to WFBC in its sole discretion, on any other form of documentation accepted by WFBC for each Account and all Related Rights which indicates that such Account and Related Rights have been sold, transferred and assigned to WFBC.  In the event any invoice (or the electronic equivalent of an invoice) or other form of documentation is sent or transmitted to any Account Debtor without the notation required hereunder, a fee equal to two and one half of one percent (2.50%) of the face amount of the related Account shall be immediately due and payable to WFBC.
		

			
			
				 .
			

			
			
			Directions to Account Debtors.  On or prior to the date hereof, the Customer shall have given written directions to each Account Debtor to remit all amounts due in respect of any Account to the address and the wiring instructions set forth in Section 6.08.  All items deposited in the deposit account set forth in Section 6.08 shall be subject to final payment.  If any such item is returned uncollected, the Customer agrees to pay WFBC on demand the amount of that item.  The Customer agrees to take any action reasonably requested by WFBC to facilitate the foregoing.

			
			
				 .
			

			
			
			No Interference.  The Customer will not under any circumstances or in any manner whatsoever, interfere with any of WFBC’s rights under this Agreement.

			
			
				 .
			

			
			
			No Sale or Assignment.  For the duration of this Agreement and for any period thereafter as long as any obligation to repurchase or indebtedness whatsoever remains owing by the Customer to WFBC, the Customer will not sell, transfer or assign Accounts or any Related Rights to any party other than WFBC.

		 

		

			21

		

		

			 

		

 

		

			 

		

			
			
				 .
			

			
			
			Permitted Liens.  The Customer shall not create, incur or suffer to exist any Lien upon any of its assets, now owned or later acquired, as security for any indebtedness, with the exception of the following (each a “Permitted Lien”; collectively, “Permitted Liens”):  (a) in the case of real property, covenants, restrictions, rights, easements and minor irregularities in title which do not materially interfere with the Customer’s business or operations as presently conducted; (b) Liens in existence on the date of this Agreement that are described in Exhibit B; (c) the Liens created by this Agreement or any Related Document; and (d) purchase money Liens relating to the acquisition of equipment not exceeding the lesser of cost or fair market value and so long as no Event of Termination has occurred and is then in existence and none would exist immediately after such acquisition.

			
			
				 .
			

			
			
			No Modification of Invoices.  Without the prior written consent of WFBC, the Customer will not change or modify the terms of the original invoice or agreement with any Account Debtor or the order of payment on Accounts sold to WFBC.

			
			
				 .
			

			
			
			Material Disputes.  The Customer will promptly (but in any event within three Business Days of obtaining knowledge thereof) notify WFBC of (a) any material dispute between the Customer and an Account Debtor in which $50,000 or more is in dispute, (b) the return or returns by an Account Debtor or its Affiliates to the Customer of any product with a fair market value of $50,000 or more in the aggregate at any one time or (c) any material claim, loss or offset of any kind against the Customer or WFBC in excess of $50,000 asserted by an Account Debtor owing a Purchased Account.

			
			
				 .
			

			
			
			Insurance.  The Customer will maintain such insurance covering the Customer’s business or the property of the Account Debtors as is customary and adequate for businesses similar to the business of the Customer in an amount as is sufficient to compensate for reasonably foreseeable loss, and promptly pay all premiums with respect to the policies covering such insurance.  Further, the Customer will have WFBC named as lender loss payee for such insurance.

			
			
				 .
			

			
			
			Chief Executive Office; Location of Books and Records.  The Customer will notify WFBC in writing prior to any change in the location of any of its places of business, including the location of the Customer’s inventory or, if the Customer has or intends to acquire any additional place of business.  The Customer will not change its chief executive office or the office or offices where the Customer’s books and records concerning Purchased Accounts and the Related Rights are kept without thirty (30) days’ prior written notice to WFBC.  The Customer will not remove any Collateral from the jurisdictions in which the Collateral is located on the date of this Agreement without the prior written consent of WFBC.

			
			
				 .
			

			
			
			Notification of Changes; Additional Trade Names; Dissolution.  The Customer will notify WFBC in writing at least thirty (30) days prior to any (a) proposed change of the Customer’s legal name, jurisdiction of incorporation, identity, legal entity, or corporate structure or (b) business dissolution.  At least thirty (30) days prior to any use of any trade name, DBA or other fictitious name not listed on Exhibit A on the date hereof by the Customer, any Affiliate of the Customer that is a party to an Affiliate Account Purchase Agreement and STS Group, Inc., the Customer will provide WFBC with an updated Exhibit A in substantially the form of Exhibit A, which updated Exhibit A (i) shall contain all information required by WFBC with respect to 
		

		 

		

			22

		

		

			 

		

 

		

			 

		

		each such additional trade name, DBA or other fictitious name, (ii) shall be executed by each of the Customer, each Affiliate of the Customer that is a party to an Affiliate Account Purchase Agreement, STS Group, Inc.,  Corporate Resource Services, Inc. and each other Guarantor, (iii) shall be acceptable to WFBC in its sole discretion, (iv) shall be effective on the date that WFBC acknowledges its acceptance of such updated Exhibit A by executing and dating such updated Exhibit A and (v) shall replace any previous Exhibit A and be deemed the Exhibit A to this Agreement and each Affiliate Account Purchase Agreement on the date that WFBC acknowledges its acceptance of such updated Exhibit A by executing and dating such updated Exhibit A.    Customer will notify WFBC in writing within five (5) Business Days after an officer of the Customer or any Subsidiary becomes the direct or indirect owner of twenty five percent (25%) or more of the equity interests in the Customer.

			
			
				 .
			

			
			
			Notification of Legal Proceedings.  No later than three days after discovery, the Customer will notify WFBC in writing of (a) any litigation or other proceeding before any court or governmental agency which seeks a monetary recovery against the Customer in excess of $100,000 or (b) any Insolvency Proceeding against the Customer.

			
			
				 .
			

			
			
			USA PATRIOT Act.    The Customer will (i) ensure, and cause each Subsidiary to ensure, that no equity owner shall be listed on the Specially Designated Nationals and Blocked Person List or other similar lists maintained by the Office of Foreign Assets Control, the Department of the Treasury or included in any Executive Orders, (ii) not use or permit the use of the proceeds of this Agreement or any other financial accommodation from WFBC to violate any of the foreign asset control regulations of the Office of Foreign Assets Control or other applicable law, (iii) comply, and cause each Subsidiary to comply, with all applicable Bank Secrecy Act laws and regulations, as amended from time to time, and (iv) otherwise comply with the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) as required by federal law and WFBC’s policies and practices.

			
			
				 .
			

			
			
			Transactions with Certain Affiliates.  The Customer has not entered, and shall not enter, into any transaction with Tri-State Employment Services, Inc., Tri-State Employment Service Inc., D & D Staffing, Corp., any Subsidiary of Corporate Resource Services, Inc. or any Affiliates of any of the foregoing (other than Corporate Resource Services, Inc.),  unless in each case it is entered into in the ordinary course of business undertaken by the Customer in good faith and upon fair and reasonable terms no less favorable to the Customer than the Customer would obtain in a comparable arms-length transaction.

			
			
				 .
			

			
			
			Professional Employer Organizations.  The Customer will (a) provide WFBC with at least thirty (30) days prior written notice before outsourcing any services to any professional employer organization other than TS Employment Inc. and (b) prior to outsourcing any services to any such professional employer organization, deliver to WFBC a Tri-Party Agreement, in form and substance acceptable to WFBC in its sole discretion, duly executed by the Customer and such professional employer organization.

			
			
				 .
			

			
			
			Financial Projections.  The Customer will provide to WFBC, as soon as available and in any event within 30 days after each fiscal year end commencing with the fiscal year ending September 30, 2012, the Customer’s projected balance sheet, income statement and statement of cash flows for each month of the next fiscal year, certified as accurate by the Customer’s chief 
		

		 

		

			23

		

		

			 

		

 

		

			 

		

		financial officer and accompanied by a statement of assumptions and supporting schedules and information, prepared on a consolidated and consolidating basis to include Corporate Resource Services, Inc. and each Subsidiary of Corporate Resource Services, Inc.  If the Customer fails to provide such financial projections to WFBC within 30 days after any fiscal year end commencing with the fiscal year ending September 30, 2012, the Customer shall pay to WFBC, as a full recourse obligation, a fee of $50,000 for each such failure to provide such financial projections; provided, that the payment of such fee shall not waive any Event of Termination caused by the Customer’s failure to provide such financial projections.

			
			
				 .
			

			
			
			
Security Interest

			
			
				 .
			

			
			
			Security Interest/Collateral.  As further inducement for WFBC to enter into this Agreement, the Customer hereby pledges, assigns and grants to WFBC a Lien and security interest in the Collateral as security for the payment and performance of any and all obligations and liabilities whatsoever of the Customer to WFBC under this Agreement or any Related Document.   Following request by WFBC, the Customer shall grant WFBC a Lien and security interest in all Collateral consisting of commercial tort claims that it may have against any Person.

			
			
				 .
			

			
			
			Security Documents.  The Customer authorizes WFBC, at the Customer’s expense, to file financing statements naming the Customer or any trade name, DBA or other fictitious name used by the Customer as debtor and describing the Purchased Accounts, the Related Rights and the Collateral to perfect WFBC’s Lien in the Purchased Accounts, the Related Rights and the Collateral, and WFBC may describe the Collateral as “all personal property” or “all assets” or describe specific items of Collateral including commercial tort claims, as WFBC may consider necessary or useful to perfect WFBC’s Lien in the Purchased Accounts, the Related Rights and the Collateral.  All financing statements filed before the date of this Agreement to perfect such Lien were authorized by the Customer.  Following the Final Termination Date, WFBC will, at the Customer’s expense and within the time periods required under applicable law, release or terminate any and all filings or other agreements that perfect its Liens in the Purchased Accounts, the Related Rights and the Collateral.

			
			
				 .
			

			
			
			
Operational Provisions

			
			
				 .
			

			
			
			Power of Attorney.    In order to carry out this Agreement, the Customer irrevocably appoints WFBC, its successors and each assignee, and any Person designated by WFBC, its successors or such assignees (which appointment is coupled with an interest) as its attorney in fact, with right of substitution, to:

			
			
				 (a)
			

			
			
			in order to evidence or protect WFBC’s interest in the Purchased Accounts, the Related Rights and the Collateral, execute and file, in the Customer’s name and on the Customer’s behalf, such recording, financing or similar statements (including any amendments, renewals and continuation statements) under applicable laws in such jurisdictions where it may be necessary to validate, perfect or protect WFBC’s interest in any of the Purchased Accounts, the Related Rights and the Collateral;

		 

		

			24

		

		

			 

		

 

		

			 

		

			
			
				 (b)
			

			
			
			strike through the Customer’s remittance information on all invoices delivered to Account Debtors and note WFBC’s remittance information on all invoices;

			
			
				 (c)
			

			
			
			receive, open, read and thereafter forward to the Customer as appropriate all mail addressed to the Customer (including any trade name of the Customer) sent to WFBC’s address; provided that any payments received shall be processed in accordance with this Agreement;

			
			
				 (d)
			

			
			
			in WFBC’s name or in the Customer’s name, as the Customer’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Customer’s mail to any address designated by WFBC, otherwise intercept the Customer’s mail, and receive, open and dispose of the Customer’s mail, applying all proceeds of Purchased Accounts, Related Rights and Collateral as permitted under this Agreement and holding all other mail for the Customer’s account or forwarding such mail to the Customer’s last known address;

			
			
				 (e)
			

			
			
			at the expense of the Customer, notify, or cause the Customer to notify, any Account Debtor or other Person obligated to pay a Purchased Account that such right to payment has been sold, transferred and assigned to WFBC and instruct, or cause the Customer to instruct, any Account Debtor or other Person to (i) make and remit payments due under the Accounts and any Related Rights directly to the address or wiring instructions set forth in Section 6.08 or (ii) deliver payments due under the Accounts and any Related Rights to WFBC by wire transfer, ACH, or other means as WFBC may direct, in each case for deposit to the Collected Reserve Account or for direct application to the amounts due and owing to WFBC;

			
			
				 (f)
			

			
			
			at any time after the Customer or WFBC gives notice as set forth in Section 8.01(e) to an Account Debtor or other obligor and with or without notice to the Customer, in WFBC’s name or in the Customer’s name, (a) demand, sue for, file any claims or take any action or institute any proceedings for, collect, give releases for or receive any money or property at any time payable or receivable on account of or securing, any such right to payment, or (b) grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such Account Debtor or other obligor;

			
			
				 (g)
			

			
			
			endorse the name of the Customer or the Customer’s trade names on any checks or other evidences of payment that may come into the possession of WFBC with respect to any Purchased Account, or on any other documents relating to any of the Purchased Accounts, the Related Rights or the Collateral;

			
			
				 (h)
			

			
			
			process any payments received directly by WFBC on a Purchased Account or any Related Rights either by delivery to the address or wiring instructions set forth in Section 6.08 if WFBC so directs or by direct collection and subsequent crediting of the Collected Reserve Account, and individually deliver any other payment for the benefit of the Customer directly to the Customer in the form received in accordance with this Agreement;

			
			
				 (i)
			

			
			
			compromise, prosecute, or defend any action, claim or proceeding as to any Purchased Account, any Related Right or any Collateral;

		 

		

			25

		

		

			 

		

 

		

			 

		

			
			
				 (j)
			

			
			
			upon the occurrence and during the continuation of an Event of Termination, offer a trade discount to any Account Debtor exclusive of the Customer’s normal business custom with such Account Debtor;

			
			
				 (k)
			

			
			
			initiate electronic debit or credit entries through the ACH system to or from any deposit account maintained by the Customer in which proceeds of the Collateral are deposited; 

			
			
				 (l)
			

			
			
			sign the Customer’s name on any notice of assignment or on any notices to Account Debtors; 

			
			
				 (m)
			

			
			
			take any other actions WFBC deems necessary or advisable to collect, endorse, negotiate or otherwise realize on the Purchased Accounts, the Related Rights, the Collateral or any part thereof, any negotiable instrument, or other right of any kind, held or owned by the Customer and sold, transferred, assigned or delivered to or received by WFBC as payment on account or otherwise in respect of any of the Purchased Accounts, the Related Rights or the Collateral; and

			
			
				 (n)
			

			
			
			take any and all actions required (as determined by WFBC in its sole discretion) to enforce WFBC’s rights and remedies hereunder or under any Related Document and to otherwise carry out the purposes of this Agreement or any Related Document, including exercising any of the remedies set forth in this Agreement or any Related Document.

		
			The authority granted to WFBC under this Section 8.01 shall remain in full force and effect until the payment in full of all amounts due and owing to WFBC, the satisfaction of all obligations of the Customer to WFBC hereunder and under each Related Document and termination of all obligations of WFBC hereunder and under each Related Document.  WFBC’s performance of such actions shall be taken or not taken in its sole discretion and shall not relieve the Customer from any obligation or cure any default under this Agreement or any Related Document.  The powers of attorney described in this Section 8.01 are coupled with an interest and are irrevocable, shall survive the Customer’s dissolution and shall not be affected by the Customer’s insolvency or bankruptcy in any manner.
		

			
			
				 .
			

			
			
			Certifications.  The Secretary or Assistant Secretary of the Customer shall certify to WFBC the names and signatures of the persons who, on the date hereof, are duly elected, qualified and acting as the officers or agents referred to in the resolutions adopted by the Customer with respect to this Agreement, and the Secretary or Assistant Secretary shall from time to time hereafter, upon a change in the facts so certified, certify to WFBC the names and signatures of the persons then authorized to sign or to act within three Business Days after any such change.  WFBC shall be fully protected in relying on such certificates and on the obligation of the Secretary or Assistant Secretary of the Customer to certify to WFBC any change in any facts so certified.  At all times, there shall be at least two officers or agents authorized to sign or to act under this Agreement and the Related Documents on behalf of the Customer, and the Customer shall have delivered to WFBC certificates containing the names and true signatures of each such agent and officer, on which certificates WFBC shall be entitled to conclusively rely.

			
			
				 .
			

			
			
			License.  The Customer hereby grants to WFBC a non exclusive, worldwide and royalty free license to use or otherwise exploit all intellectual property rights of the Customer (whether owned or licensed) for the purpose of collecting the Purchased Accounts and selling, leasing or 
		

		 

		

			26

		

		

			 

		

 

		

			 

		

		otherwise disposing of any or all Related Rights and Collateral during the existence of an Event of Termination.

			
			
				 .
			

			
			
			Reports.  In the event the Customer requests information from WFBC regarding the Customer’s account hereunder, such requests shall be subject to the schedule of fees provided by WFBC which schedule may be adjusted by WFBC from time to time in its discretion.  Any billing statement, aging or other accounting or report provided by WFBC to the Customer (a) shall be presumed correct unless proven otherwise by the Customer and (b) shall be conclusive and binding unless the Customer notifies Wells Fargo, within 30 days of receipt thereof in a detailed written notice, of its intention to dispute a billing statement, aging or other accounting or report.

			
			
				 .
			

			
			
			Account Verification.  WFBC or its agent may, at any time and from time to time, send or require the Customer to send requests for verification of Purchased Accounts (including amounts owed to the Customer) to Account Debtors and other obligors or, so long as an Event of Termination has occurred and is continuing, notices of assignment to Account Debtors and other obligors.

			
			
				 .
			

			
			
			Books and Records; Collateral Examination; Inspection; Premises.  The Customer shall hold the Records in trust for WFBC and keep complete and accurate books and records with respect to the Purchased Accounts, the Related Rights and the Collateral and the Customer’s business and financial condition and any other matters that WFBC may request, in accordance with generally accepted accounting principles.  The Customer shall permit any employee, attorney, accountant or other agent of WFBC to examine and inspect the Related Rights and the Collateral and any property of the Customer related to the Purchased Accounts, the Related Rights or the Collateral and to audit, review, make extracts from and copy any of its books and records (a) at any time during ordinary business hours as long as no Event of Termination has occurred and is continuing and (b) at any time during the continuation of an Event of Termination, and to discuss the Customer’s affairs with any of its directors, managers, officers, employees, owners or agents.  The Customer authorizes all accountants and other Persons acting as its agent to disclose and deliver to WFBC’s employees, accountants, attorneys and other Persons acting as its agent (each of whom, as a Wells Receiver, is subject to the terms of Section 11.17), at the Customer’s expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the Customer.  If WFBC occupies or uses the premises of the Customer hereunder, WFBC shall not be obligated to pay or account for any rent or other compensation for such occupancy or use; provided, however, that if WFBC does pay or account for any rent or other compensation for such occupancy or use, the Customer shall reimburse WFBC on demand for the full amount thereof. 

			
			
				 .
			

			
			
			Duty of Care and Related Matters.  WFBC’s duty of care with respect to any Purchased Accounts, Related Rights or Collateral in its possession (as imposed by law) will be deemed fulfilled if it exercises reasonable care in physically keeping such Purchased Accounts, Related Rights, or Collateral or in the case of Related Rights and Collateral in the custody or possession of a bailee or other third Person, exercises reasonable care in the selection of the bailee or third Person, and WFBC need not otherwise preserve, protect, insure or care for such Purchased Accounts, Related Rights or Collateral.  WFBC shall not be obligated to preserve 
		

		 

		

			27

		

		

			 

		

 

		

			 

		

		rights the Customer may have against prior parties, to liquidate the Purchased Accounts, the Related Rights and the Collateral at all or in any particular manner or order or apply the proceeds of the Purchased Accounts, the Related Rights and the Collateral in any particular order of application.  WFBC has no obligation to clean up or prepare Collateral for sale.  The Customer waives any right it may have to require WFBC to pursue any third Person for any amounts payable to WFBC by the Customer.

			
			
				 .
			

			
			
			Notice of Assignment to Account Debtor.  The Customer shall label its records in a manner reasonably acceptable to give proper notice of the sale, transfer and assignment of the Purchased Accounts and Related Rights to WFBC.

			
			
				 .
			

			
			
			
Events of Termination

			
			
				 .
			

			
			
			Events of Termination.    Any one or more of the following shall be an Event of Termination hereunder (each, an “Event of Termination”):

			
			
				 (a)
			

			
			
			The Customer shall fail to pay any indebtedness to WFBC when due or repurchase any Purchased Account when required hereunder.

			
			
				 (b)
			

			
			
			The Customer shall breach any term, provision, promise or covenant under this Agreement, any Related Document or under any other agreements or contracts, between the Customer and WFBC.

			
			
				 (c)
			

			
			
			Any representation, warranty, certification or statement made, or deemed made by the Customer in, or pursuant to, this Agreement, any Related Document or any other agreements or contracts, between the Customer and WFBC proves to have been incorrect or misleading in any material respect when made or deemed made.

			
			
				 (d)
			

			
			
			The Customer shall become insolvent or unable to pay debts as they mature; the Customer shall make a general assignment for the benefit of creditors or voluntarily commence any Insolvency Proceeding affecting the Customer; any involuntary Insolvency Proceeding shall be filed against the Customer and is not dismissed within sixty (60) days; or any proceeding shall be instituted seeking the entry of an order for relief by the appointment of a receiver, trustee, custodian or similar official for the Customer or a substantial part of its property.

			
			
				 (e)
			

			
			
			The Customer shall create, incur or suffer to exist any Lien upon any Purchased Account, Related Rights or Collateral (other than a Permitted Lien) or any levies, attachment, executions, or similar process shall be issued against any Purchased Account, Related Rights or Collateral.

			
			
				 (f)
			

			
			
			Any financial statements, profit and loss statements, or schedules, other statements, information or documents furnished by the Customer to WFBC are incorrect or misleading in any material respect.

			
			
				 (g)
			

			
			
			Any document or other information submitted by the Customer to WFBC for the purchase of an Account is fraudulent or erroneous, or the Customer fails to submit any document or other information required by WFBC under this Agreement for the purchase of an Account.

		 

		

			28

		

		

			 

		

 

		

			 

		

			
			
				 (h)
			

			
			
			Any Account Debtor shall assert a claim or offset of any kind against the Customer or WFBC which may have a material adverse impact on payment of any Purchased Account or on any Related Rights.

			
			
				 (i)
			

			
			
			A Change of Control shall occur. 

			
			
				 (j)
			

			
			
			(i) An Event of Termination (as defined in any Affiliate Account Purchase Agreement or in any other applicable Account Purchase Agreement between WFBC and any other Affiliate of the Customer) shall occur and be continuing under any Affiliate Account Purchase Agreement, (ii) an Event of Default (as defined in the Account Purchase Agreement by and between STS Group, Inc. and WFBC dated as of April 7, 2008) shall occur and be continuing under the Account Purchase Agreement by and between STS Group, Inc. and WFBC dated as of April 7, 2008, or  (iii) TS Employment Inc. is in default under, or otherwise breaches or violates any terms of, any agreement that it has entered into with, or in favor of, WFBC.

			
			
				 (k)
			

			
			
			(i) D & D Staffing, Corp. shall fail to pay any amounts owing to WFBC when due, or fail to repurchase any account when required, under the D & D Account Purchase Agreement, and the Final Termination Date (as defined in the D & D Account Purchase Agreement) shall not have occurred within three (3) Business Days of such failure or (ii) any other Event of Termination (as defined in the D & D Account Purchase Agreement) shall occur under the D & D Account Purchase Agreement, and the Final Termination Date (as defined in the D & D Account Purchase Agreement) shall not have occurred within ten (10) Business Days of such Event of Termination.

			
			
				 (l)
			

			
			
			Any Guarantor of the Customer’s obligations hereunder is in default under, or otherwise breaches or violates any terms of, its Guaranty or any Guarantor withdraws, disaffirms or revokes its Guaranty.

			
			
				 (m)
			

			
			
			(i) The Customer, directly or indirectly, disaffirms or contests in writing the validity or enforceability of this Agreement or any Related Document or (ii) this Agreement or any Related Document fails to be the enforceable obligation of the Customer.

			
			
				 (n)
			

			
			
			One or more judgments or decrees shall be entered against the Customer involving in the aggregate at any time a liability (net of any insurance or indemnity payments actually received in respect thereof prior to or within sixty (60) days from the entry thereof, or to be received in respect thereof in the event any appeal thereof shall be unsuccessful) equal to or in excess of $250,000 and all such judgments or decrees shall not have been vacated, discharged, stayed or bonded pending appeal within sixty (60) days from the entry thereof.    

			
			
				 (o)
			

			
			
			(i) Any Person shall engage in any “prohibited transaction” (as defined in Section 406 of ERISA or Section 4975 of the Code) involving any Plan, (ii) any “accumulated funding deficiency” (as defined in Section 302 of ERISA), whether or not waived, shall exist with respect to any Plan or any Lien in favor of the PBGC or a Plan shall arise on the assets of the Customer or any Subsidiary, (iii) a Reportable Event shall occur with respect to, or proceedings shall commence to have a trustee appointed, or a trustee shall be appointed, to administer or to terminate, any Single Employer Plan, which Reportable Event or commencement of proceedings or appointment of a trustee is reasonably likely to result in the 
		

		 

		

			29

		

		

			 

		

 

		

			 

		

		termination of such Plan for purposes of Title IV of ERISA (other than a standard termination pursuant to Section 4041(b) of ERISA), (iv) any Single Employer Plan shall terminate for purposes of Title IV of ERISA (other than a standard termination pursuant to Section 4041(b) of ERISA), (v) any of the Customer or any Subsidiary shall, or is reasonably likely to, incur any liability in connection with a withdrawal from, or the Insolvency or Reorganization of, a Multiemployer Plan, (vi) the occurrence or expected occurrence of any event or condition which results or is reasonably likely to result in any of the Customer’s or any Subsidiary’s becoming responsible for any liability in respect of a Former Plan (other than a standard termination pursuant to Section 4041(b) of ERISA), or (vii) any other event or condition shall occur or exist with respect to a Plan; and in each case in clauses (i) through (vii) above, such event or condition, together with all other such events or conditions, if any, would be reasonably expected to result in liability which would have a Material Adverse Effect.

			
			
				 (p)
			

			
			
			
Remedies

			
			
				 .
			

			
			
			Remedies.  Upon the occurrence of an Event of Termination, WFBC may do any one or more of the following:

			
			
				 (a)
			

			
			
			Accelerate and declare immediately due and payable, and charge back, all indebtedness of the Customer to WFBC, whether mature, contingent or otherwise, whereupon all such amounts shall become and be forthwith due and payable, without presentment, notice of dishonor, protest or further notice of any kind, all of which the Customer hereby expressly waives.

			
			
				 (b)
			

			
			
			Require the Customer to repurchase any and all Purchased Accounts, including the Related Rights with respect thereto, whether disputed or undisputed, and to pay on demand the Repurchase Price for those Purchased Accounts, including such Related Rights, as provided herein, and, in the event the Repurchase Price is not paid in full on demand, WFBC or its designee may collect such Purchased Accounts and charge a reasonable fee in connection with such collection activities in addition to any other fees or charges provided for herein.

			
			
				 (c)
			

			
			
			Cease purchasing any Account under this Agreement.

			
			
				 (d)
			

			
			
			Notify, or cause the Customer to notify, any Account Debtor or other Person obligated to pay a Purchased Account that such right to payment has been sold, transferred and assigned to WFBC and instruct, or cause the Customer to instruct, any Account Debtor or other Person to (i) make and remit payments due under the Purchased Accounts and any Related Rights directly to the address or wiring instructions set forth in Section 6.08 or (ii) deliver payments due under the Purchased Accounts and any Related Rights to WFBC by wire transfer, ACH, or other means as WFBC may direct, in each case for deposit to the Collected Reserve Account or for direct application to the amounts due and owing to WFBC.

			
			
				 (e)
			

			
			
			Take possession of any Related Rights or Collateral, with or without judicial process.

			
			
				 (f)
			

			
			
			Settle any disputed Purchased Account directly with the Account Debtor for any amount without relieving the Customer of its obligations with respect to such Purchased Account 
		

		 

		

			30

		

		

			 

		

 

		

			 

		

		under this Agreement, grant extensions and compromise claims, all without prior notice to, or consent of, the Customer.

			
			
				 (g)
			

			
			
			Require the Customer to assemble the Related Rights and the Collateral and make them available to WFBC at a place designated by WFBC.

			
			
				 (h)
			

			
			
			Enter and take non-exclusive possession of the Customer’s premises, take possession of the Related Rights and Collateral, and use such premises (at no cost to WFBC) only to hold, process, sell, use, store, liquidate, realize upon or otherwise dispose of items that are Purchased Accounts, Related Rights or Collateral and for other purposes that WFBC may in good faith deem to be related or incidental purposes.

			
			
				 (i)
			

			
			
			Use, solely in connection with any assembly, disposition or collection of the Purchased Accounts, the Related Rights or the Collateral, any trademark, trade name, trade style, copyright, patent right or technical process used or utilized by the Customer in generating such Purchased Accounts or with respect to such Related Rights or Collateral.

			
			
				 (j)
			

			
			
			Initiate electronic credit or debit entries through the ACH system to and from any deposit account maintained by the Customer wherever located.

			
			
				 (k)
			

			
			
			Collect from the Customer all amounts due and owing to WFBC in connection with this Agreement or any Related Document.

			
			
				 (l)
			

			
			
			Hold the Customer liable for any deficiency for any amounts due and owing to WFBC.

			
			
				 (m)
			

			
			
			Cease making reports or accountings to the Customer as otherwise required by this Agreement.

			
			
				 (n)
			

			
			
			Exercise and enforce any and all rights and remedies available upon default to a secured party under the Uniform Commercial Code, including the right to take possession of the Purchased Accounts, the Related Rights and the Collateral, or any evidence thereof, proceeding without judicial process or by judicial process (without a prior hearing or notice thereof, which the Customer hereby expressly waives) and the right to sell, lease or otherwise dispose of any or all of the Purchased Accounts, Related Rights and Collateral (with or without giving any warranties as to the Purchased Accounts, Related Rights or Collateral, title to the Purchased Accounts, Related Rights or Collateral or similar warranties).

			
			
				 (o)
			

			
			
			Require the Customer to hold all proceeds of Collateral separate and apart from its general funds in a segregated trust account for the benefit of WFBC, to invest all such proceeds so held as directed by WFBC and to remit such amounts so held together with any interest thereon as directed by WFBC.

			
			
				 (p)
			

			
			
			Without regard to any waste, adequacy of the security or solvency of the Customer, apply for the appointment of a receiver of the Collateral, to which appointment the Customer hereby consents, whether or not foreclosure proceedings have been commenced and whether or not a foreclosure sale has occurred.

		 

		

			31

		

		

			 

		

 

		

			 

		

			
			
				 (q)
			

			
			
			Exercise any other rights and remedies available to the Customer with respect to the Purchased Accounts, the Related Rights or the Collateral.

			
			
				 (r)
			

			
			
			Exercise any other rights and remedies available to it by law or agreement.

		
			Notwithstanding the foregoing, upon the occurrence of an Event of Termination described in Section 9.01(d), amounts payable by the Customer to WFBC shall be immediately due and payable automatically without presentment, demand, protest or notice of any kind.
		

			
			
				 .
			

			
			
			Sale of Collateral.  During the continuation of an Event of Termination, if WFBC sells any of the Collateral on credit, the amounts payable to WFBC hereunder will be reduced only to the extent of payments actually received.  If the purchaser fails to pay for any Collateral, WFBC may resell such Collateral and shall apply any proceeds actually received to the amounts payable by the Customer to WFBC.

			
			
				 .
			

			
			
			Certain Notices.  During the continuation of an Event of Termination, if notice to the Customer of any intended disposition of Purchased Accounts, Related Rights or Collateral or any other intended action is required by law in a particular instance, such notice shall be deemed commercially reasonable if given (in the manner specified in Section 11.18) at least ten calendar days before the date of intended disposition or other action.

			
			
				 .
			

			
			
			
Miscellaneous Provisions

			
			
				 .
			

			
			
			Binding on Future Parties.  This Agreement inures to the benefit of and is binding upon the successors and assigns of the parties hereto; provided, however, that the Customer shall not assign its rights hereunder or any interest herein without WFBC’s prior written consent which may be withheld in its sole discretion.

			
			
				 .
			

			
			
			Participations.    WFBC may sell to one or more Persons (each a “Participant”) participating interests in the interests of WFBC hereunder.  WFBC shall remain solely responsible for performing its obligations hereunder, and the Customer shall continue to deal solely and directly with WFBC in connection with WFBC’s rights and obligations hereunder.  Each Participant shall be entitled to the benefits of Section 11.07 and shall have the right of setoff through its participation in amounts owing hereunder to the same extent as if it were WFBC.    If any Participant has the right to deal directly with the Customer regarding the Customer’s rights and obligations hereunder, the Customer may terminate this Agreement with thirty (30) days prior written notice to WFBC.

			
			
				 .
			

			
			
			Cumulative Rights.  No failure or delay by WFBC in exercising any right, power or remedy under this Agreement, any Related Document or any Related Right shall operate as a waiver thereof; nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy under this Agreement, any Related Document or any Related Right.  The remedies provided herein are cumulative and not exclusive of any remedies provided by law.

			
			
				 .
			

			
			
			Setoff.  WFBC may, at any time and from time to time, in its sole discretion and without demand or notice to anyone, setoff any liability owed to the Customer by WFBC against any 
		

		 

		

			32

		

		

			 

		

 

		

			 

		

		amounts payable to WFBC by the Customer, whether or not due; provided that WFBC will make commercially reasonable efforts to notify the Customer after such setoff, unless such setoff is made (a) against the Collected Reserve Account or otherwise in WFBC’s normal course of business consistent with past practices or (b) during the continuation of an Event of Termination;  provided, further, that WFBC’s failure to so notify the Customer shall not be a breach of this Agreement.

			
			
				 .
			

			
			
			Waiver.  WFBC may not waive its rights and remedies unless the waiver is in writing and signed by WFBC.  A waiver by WFBC of a right or remedy under this Agreement on one occasion is not a waiver of the right or remedy on any subsequent occasion.

			
			
				 .
			

			
			
			Failure to Perform.  If the Customer fails to perform any of its agreements or obligations hereunder or under any Related Document or any Related Right, WFBC may (but will not be required to) itself perform, or cause to be performed, such agreement or obligation.

			
			
				 .
			

			
			
			Indemnity.

			
			
				 (a)
			

			
			
			In addition to the payment of expenses pursuant to Section 11.19, the Customer shall indemnify, defend and hold harmless WFBC, and any of its participants, parent entities, subsidiary entities, affiliated entities, successor entities, and all present and future officers, directors, employees, attorneys and agents of the foregoing (the “Indemnitees”) from and against any and all liabilities,  losses, damages, penalties, judgments, suits, claims, costs and expenses of any kind or nature whatsoever (including the reasonable fees and disbursements of counsel) arising out of or otherwise relating to this Agreement, any Related Document, the transactions contemplated hereby and thereby, any Purchased Account, any Related Rights, any Collateral, any action taken or omitted by any of the Indemnitees, any actions to be performed by the Customer hereunder or otherwise, or in connection with any of the foregoing, any investigative, administrative or judicial proceedings, whether or not such Indemnitee shall be designated a party thereto, which may be imposed on, incurred by or asserted against any such Indemnitee, the purchase of Accounts, the use or intended use of the proceeds of the payments made to the Customer, or any of the following (collectively, “Indemnified Liabilities”):

			
			
				 (i)
			

			
			
			any representation or warranty made or deemed to be made by the Customer (or any of the Customer’s officers) in or in connection with this Agreement or any Related Document, which was incorrect in any material respect when made or deemed made or delivered;

			
			
				 (ii)
			

			
			
			the failure of the Customer to perform or observe any of its covenants, duties or obligations hereunder or under any of the Related Documents;

			
			
				 (iii)
			

			
			
			the failure by the Customer to comply with any applicable law, rule, regulation, order, injunction, award or decree with respect to any Purchased Account or Related Rights, including any applicable bulk sales legislation, or the nonconformity thereof with any applicable law, rule, regulation, order, injunction, award or decree;

			
			
				 (iv)
			

			
			
			the return or transfer by WFBC to the Customer of any payments received by WFBC pursuant hereto to which WFBC is entitled pursuant to the terms of this Agreement;

		 

		

			33

		

		

			 

		

 

		

			 

		

			
			
				 (v)
			

			
			
			any loss of a perfected Lien or ownership interest (or in the priority of such Lien or ownership interest) as a result of any commingling by the Customer of funds to which WFBC is entitled hereunder with any other funds;

			
			
				 (vi)
			

			
			
			any dilution, claims, disputes, damages, offsets, penalties, losses or defenses arising from any Purchased Account or Related Rights or any claims, disputes, offsets or defenses in connection with any merchandise or services which are the subject of the Related Rights, including any product liability claim or personal injury or property damage suit (provided, however, that nothing contained in this subsection shall limit the liability of the Customer or limit the recourse of WFBC to the Customer for any amounts otherwise specifically provided to be paid by the Customer hereunder);

			
			
				 (vii)
			

			
			
			any failure of (a) any agreement with an Account Debtor to contain an enforceable right of assignment and an express right to make information of such Account Debtor available to the Customer’s assignees and their agents; and (b) the Customer to bring such rights to the attention of the related Account Debtor in compliance with applicable law; and

			
			
				 (viii)
			

			
			
			any claims, demands, expenses, loss or damage resulting from or growing out of honoring or relying on the signature or other authority (whether or not properly used) of any officer or person whose name and signature was certified pursuant to Section 8.02, or refusing to honor any signature or authority not so certified.

		
			Notwithstanding the foregoing, the Customer shall not be obligated to indemnify any Indemnitee for (A) any Indemnified Liability caused directly by the gross negligence or willful misconduct of such Indemnitee or (B) any overall net income taxes imposed on such Indemnitee by the jurisdiction under the law of which such Indemnitee is organized or otherwise considered doing business or any political subdivision thereof.
		

			
			
				 (b)
			

			
			
			If any investigative, judicial or administrative proceeding arising from any of the foregoing is brought against any Indemnitee, upon such Indemnitee’s request, the Customer and counsel, designated by the Customer and satisfactory to the Indemnitee, will resist and defend such action, suit or proceeding to the extent and in the manner directed by the Indemnitee, at the Customer’s cost and expense.  Each Indemnitee will use commercially reasonable efforts to cooperate in the defense of any such action, suit or proceeding.  If the foregoing undertaking to indemnify, defend and hold harmless may be held to be unenforceable because it violates any law or public policy, the Customer shall nevertheless make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law.

			
			
				 (c)
			

			
			
			The obligations of the Customer under this Section 11.07 shall survive the termination of this Agreement and the discharge of the other obligations of the Customer hereunder.

			
			
				 .
			

			
			
			Increased Cost and Reduced Return.  After the date of this Agreement, if the adoption of any applicable law, rule or regulation, or any change therein, or any change in the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by WFBC with any request or directive (whether or not having the force of law) of any such governmental authority (a) subjects WFBC 
		

		 

		

			34

		

		

			 

		

 

		

			 

		

		to any charge or withholding on or in connection with this Agreement or any Related Document or any Purchased Account, (b) changes the basis of taxation of payments to WFBC in respect of any amounts payable under this Agreement or any Related Document (except for changes in the rate of tax on the overall net income before tax of WFBC), (c) imposes, modifies or deems applicable any reserve, assessment, insurance charge, special deposit or similar requirement against assets of, deposits with or for the account of, or any credit extended by WFBC, (d) has the effect of reducing the rate of return on WFBC’s capital to a level below that which WFBC could have achieved but for such adoption, change or compliance (taking into consideration WFBC’s policies concerning capital adequacy) or (e) imposes any other condition, and the result of any of the foregoing is (x) to impose a cost on, or increase the cost to WFBC of its purchasing, maintaining or funding any interest acquired under this Agreement or any Related Document, (y) to reduce the amount of any sum received or receivable by, or to reduce the rate of return of WFBC under this Agreement or any related transaction document or (z) to require any payment calculated by reference to the amounts received by it hereunder, then, upon demand by WFBC, the Customer shall pay to WFBC (with respect to amounts owed to it) such additional amounts as will compensate WFBC for such increased cost or reduction.  

			
			
				 .
			

			
			
			Choice of Law.  This Agreement shall be governed by and construed in accordance with the substantive laws (other than conflict laws) of the State of Colorado.

			
			
				 .
			

			
			
			Invalid Provisions.  Any provision of this Agreement which is prohibited or unenforceable shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof.

			
			
				 .
			

			
			
			Entire Agreement.  This Agreement, including all Exhibits hereto, together with the Related Documents, or any other document or agreement described in or related to this Agreement, comprises the complete and integrated agreement of the parties on the subject matter of this Agreement and supersedes all prior agreements, whether oral or in writing.  All Exhibits hereto are incorporated into this Agreement and made a part hereof. 

			
			
				 .
			

			
			
			Amendment.  Except as otherwise provided herein, any amendment, addendum or modification hereto must be signed by both parties.

			
			
				 .
			

			
			
			Further Documents.  The Customer, at its expense, will from time to time execute, deliver, endorse and authorize the filing of any instruments, documents, conveyances, assignments, security agreements, financing statements, control agreements and other agreements that WFBC may reasonably request in order to secure, protect, perfect or enforce WFBC’s rights under this Agreement, the Related Documents, the Related Rights or any other document or agreement described in or related to this Agreement or its Lien in the Purchased Accounts, Related Rights and Collateral (but any failure to request or assure that the Customer executes, delivers, endorses or authorizes the filing of any such item shall not affect or impair the validity, sufficiency or enforceability of this Agreement, the Related Documents, the Related Rights or any other document or agreement described in or related to this Agreement or WFBC’s Lien in the Purchased Accounts, Related Rights and Collateral, regardless of whether any such item was or was not executed, delivered or endorsed in a similar context or on a prior occasion).

		 

		

			35

		

		

			 

		

 

		

			 

		

			
			
				 .
			

			
			
			Retention of Records.  WFBC shall have no obligation to maintain electronic records or retain any documents, schedules, invoices, agings, or other Records delivered to WFBC by the Customer in connection with this Agreement or the Related Documents or any other document or agreement described in or related to this Agreement beyond the time periods set forth for retention of records in WFBC’s internal policies.

			
			
				 .
			

			
			
			Effective.  This Agreement shall become effective when it is executed and delivered by an authorized officer of each party.  This Agreement may be executed in counterparts and each counterpart shall constitute one and the same original.  Manually executed counterparts of the signature pages of this Agreement and any of its Exhibits may be delivered by the parties electronically so long as transmitted pages are reproducible on paper medium upon receipt.  Each party is duly authorized to print any executed signature page so received and attach it to this Agreement or a relevant Exhibit, as applicable, whereupon this Agreement or such Exhibit shall be deemed to have been duly executed and delivered by the transmitting party and the paper copy of this Agreement or such Exhibit assembled by the recipient with such signature page attached shall be deemed an original for all purposes, absent manifest error or bad faith.

			
			
				 .
			

			
			
			Data Transmission.  WFBC assumes no responsibility for privacy or security risks as a result of the method of data transmission selected by the Customer.  WFBC only assumes responsibility for data transmitted from the Customer once the data is received within WFBC’s internal network.  WFBC assumes no responsibility for privacy or security data transmitted from WFBC to the Customer once the data is dispensed from WFBC’s internal network.

			
			
				 .
			

			
			
			Confidential Information.  WFBC covenants and agrees to hold this Agreement and other nonpublic information regarding the Customer, its Affiliates, and their respective businesses (collectively, “Confidential Information”) in confidence, and agrees not to use and not to disclose any of the contents of, provide any Person with copies of, or use for any purpose not related to the purchases made hereunder, any Confidential Information other than disclosure to,  granting permission to use to, and discussion with (a) Wells Fargo & Co., any direct or indirect Subsidiaries of Wells Fargo & Co. (including WFBC) or any officers, directors, members, managers, employees or outside accountants, auditors, attorneys or other agents of Wells Fargo & Co. or such Subsidiaries (the “Wells Receivers”), (b) any prospective or actual assignees, syndication parties or participants, (c) any rating agency of WFBC and (d) governmental authorities with appropriate jurisdiction over WFBC; provided that each such Person is informed of the confidential nature of the Confidential Information, and has agreed to treat the Confidential Information as confidential in accordance with terms and conditions no less protective than as set forth in this Section.  Notwithstanding the above stated obligations, no Person will be liable for disclosure or use of Confidential Information which (i) was required by law, including pursuant to a subpoena or other legal process, (ii) was in such Person’s possession or known to such Person prior to receipt in connection with purchases made hereunder, (iii) is or becomes known to the public (without breach of any obligations hereunder), (iv) is or becomes available to such Person from a source, other than a Wells Receiver, which is not known to such Person to be under an obligation of confidentiality to the Customer; or (v) is independently developed by such Person without the use of the Confidential Information.  Notwithstanding any provision hereof to the contrary, WFBC covenants and agrees that it shall not use the name of the Customer or any Affiliate of the Customer, or any trademarks, trade names or service marks of the Customer or any Affiliate of the Customer, or quote the opinion of any employee of the 
		

		 

		

			36

		

		

			 

		

 

		

			 

		

		Customer or any Affiliate of the Customer, in any advertising or marketing material (including press releases) without first obtaining the prior written consent of an officer of the Customer or such Affiliate, as applicable.

			
			
				 .
			

			
			
			Notices Hereunder.  Except as otherwise expressly provided herein, all notices, requests, demands and other communications provided for under this Agreement and the Related Documents shall be in writing and shall be (a) personally delivered, (b) sent by first class United States mail, (c) sent by overnight courier of national reputation for which a receipt is available, (d) transmitted by telecopy, or (e) sent as electronic mail, in each case delivered or sent to the party to whom notice is being given to the business address, telecopier number, or e-mail address set forth below next to its signature or, as to each party, at such other business address, telecopier number, or e-mail address as it may hereafter designate in writing to the other party pursuant to the terms of this Section 11.18.  All such notices, requests, demands and other communications shall be deemed to be an authenticated record communicated or given on (w) the date received if personally delivered, (x) five days after the date deposited in the mail if delivered by mail, (y) the date delivered to the courier if delivered by overnight courier, or (z) the date of transmission if sent by confirmed telecopy or e-mail.  All notices, financial information, or other business records sent by any party to this Agreement may be transmitted, sent, or otherwise communicated via such medium as the sending party may deem appropriate and commercially reasonable; provided, however, that the risk that the confidentiality or privacy of such notices, financial information, or other business records sent by any party may be compromised shall be borne exclusively by the Customer.

			
			
				 .
			

			
			
			Costs and Expenses.  Except as is prohibited by law, the Customer agrees to pay on demand all costs and expenses, including reasonable attorneys’ fees (including in-house counsel), incurred by WFBC in connection with this Agreement, any other Related Document, the Related Rights and the transactions contemplated hereby and thereby, including all such costs, expenses and fees set forth in the schedule of fees provided by WFBC, which schedule may be adjusted by WFBC from time to time in its discretion, and all such costs, expenses and fees incurred in connection with the negotiation, due diligence, preparation, execution, amendment, modification, administration, performance, collection and enforcement of this Agreement, the Related Documents, the Related Rights, all obligations of the Customer hereunder and thereunder and the creation, perfection, protection, satisfaction, foreclosure or enforcement of any security interest granted hereunder and the collection of any Purchased Account, any Related Right or any obligation owed by the Customer to WFBC.

			
			
				 .
			

			
			
			Taxes.

			
			
				 (a)
			

			
			
			Except as otherwise provided in this Section 11.20, any and all payments made by the Customer hereunder shall be made free and clear and without deductions for or on account of any present or future U.S., foreign, federal, provincial, state, municipal, local or other taxes of any kind or nature whatsoever, including any capital, income, sales, excise, business, property, stamp, documentary, customs, imposts, deductions, charges or withholdings, and all liabilities with respect thereto (excluding taxes that are imposed on WFBC’s overall net income by any taxing authority) (all such non-excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities of any kind or nature whatsoever and interest, penalties and additions to tax in respect thereof being hereinafter referred to as “Taxes”).  If any such withholdings or deductions 
		

		 

		

			37

		

		

			 

		

 

		

			 

		

		are so required, (i) the sum payable hereunder shall be increased as may be necessary so that after all required deductions are taken into account (including any required with respect to payments made pursuant to this Section 11.20(a)), WFBC shall receive an amount equal to the sum it would have received had no such deduction been made, (ii) the Customer shall make such deductions and (iii) the Customer shall pay the full amount deducted to the appropriate authority before penalties attach thereto or interest accrues thereon.  If the Customer pays any such Taxes, it shall deliver official tax receipts evidencing that payment or certified copies thereof to WFBC on or before the thirtieth day after payment.

			
			
				 (b)
			

			
			
			In addition, the Customer shall pay any present or future U.S., foreign, federal, provincial, state, municipal, local or other taxes of any kind or nature whatsoever, including any capital, income, sales, excise, business, property, stamp, documentary, customs, imposts, deductions, charges or withholdings, and all liabilities and interest, penalties and additions to tax in respect thereof  imposed by any taxing authority (other than taxes that are imposed on WFBC’s overall net income by any taxing authority) that arises from any payment made hereunder, under any Related Document or from any proceeds of any Purchased Account or Related Right or any withholding or deduction by an Account Debtor (hereinafter referred to as “Other Taxes”).

			
			
				 (c)
			

			
			
			Except as otherwise provided in this Section 11.20, the Customer shall indemnify WFBC for and hold it harmless against the full amount of the Taxes and Other Taxes paid by WFBC on account of any transaction contemplated by this Agreement or any Related Document or the purchase of the Purchased Accounts and the Related Rights.

			
			
				 .
			

			
			
			Limitation.  In no event shall WFBC be liable to the Customer for any consequential, incidental, special, punitive, or indirect loss or damage arising out of or related to any provision of this Agreement, including loss of profits or revenue, loss of opportunity or like items of loss or damage except as specifically provided herein regardless of the legal basis for any such claim and the Customer hereby releases WFBC therefrom.  In no event shall the Customer be liable to WFBC for any consequential or punitive loss or damage arising out of or related to any provision of this Agreement.

			
			
				 .
			

			
			
			Prohibited Rate.  In no event shall any interest or fee to be paid hereunder exceed the maximum rate permitted by applicable law.  In the event any such interest rate or fee exceeds such maximum rate, such rate shall be adjusted downward to the highest rate (expressed as a percentage per annum) or fee that the parties could validly have agreed to by contract on the date hereof under applicable law.  It is further agreed that any excess actually received by WFBC shall be credited against any amount owing hereunder.

			
			
				 .
			

			
			
			Jurisdiction.  The parties hereby (a) consent to the personal jurisdiction of the state and federal courts located in the State of Colorado, and any appellate court from which any appeals therefrom are available, in connection with any controversy related to this Agreement or any Related Document; (b) waive any argument that venue in any such forum is not convenient; (c) agree that any litigation initiated by WFBC or the Customer in connection with this Agreement or any Related Document may be venued in the state or federal courts located in the City and County of Denver, Colorado; and (d) agree that a final judgment in any such suit, action or 
		

		 

		

			38

		

		

			 

		

 

		

			 

		

		proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.

			
			
				 .
			

			
			
			Negotiations.  The parties agree that this Agreement has been mutually negotiated at arm’s length by both of them with benefit of legal counsel and such other advice as they deemed appropriate and no provision hereof is to be construed more severely against one of the parties than it is to be construed against the other based on the party responsible for the drafting thereof.

			
			
				 .
			

			
			
			USA PATRIOT Act Notice.  WFBC hereby notifies the Customer that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), it is required to obtain, verify and record information that identifies the Customer, which information includes the name and address of the Customer and other information that will allow WFBC to identify the Customer in accordance with the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)).

			
			
				 .
			

			
			
			Termination.  This Agreement shall terminate on the first date following the Termination Date when the Purchased Amount has reduced to zero, all other amounts due to WFBC under this Agreement and the Related Documents have been indefeasibly paid in full, WFBC has no further obligations hereunder or any Related Document and all obligations of the Customer to WFBC hereunder and under each Related Document have been satisfied, in each case as determined by WFBC in its sole discretion (the “Final Termination Date”).

			
			
				 .
			

			
			
			Terms Generally.  Defined terms include in the singular number the plural and in the plural number the singular.  The use of the singular or the plural number shall be deemed to include the use of the other when the context so requires.  Whenever the context require, any pronoun shall include the corresponding masculine, feminine and neuter forms.  The words “include”,  “includes” and “including” shall be deemed to be followed by the phrase “without limitation”.  The word “will” shall be construed to have the same meaning and effect as the word “shall”.  Unless the context in which used herein otherwise clearly requires, “or” has the inclusive meaning represented by the phrase “and/or”.  Unless the context requires otherwise, (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and permitted assigns, (c) the words “herein”,  “hereof” and “hereunder”, and words of similar import shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, subsections, Exhibits, Schedules and the like shall be construed to refer to Articles, Sections and subsections of, or Exhibits or Schedules attached to, this Agreement unless otherwise expressly provided and (e) all references herein to Articles, Sections, subsections and the like shall be construed to include therein references to all Sections and subsections thereof unless otherwise expressly provided.  Article and Section headings in this Agreement are for reference only and shall not affect the construction of this Agreement.  Reference to any law, rule, regulation, order, decree, requirement, policy, guideline, directive or interpretation means as amended, modified, codified, replaced or reenacted, in whole or in part, and in effect on the determination date, including rules and regulations promulgated thereunder.  All accounting 
		

		 

		

			39

		

		

			 

		

 

		

			 

		

		terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles.

		
			[This space intentionally left blank.]
		

		
			 
		

		

		

		 

		

			40

		

		

			 

		

 

		

			 

		

		 
		

			
					
			

				 .
			

		WAIVER OF JURY TRIAL.  EACH OF THE CUSTOMER AND WFBC HEREBY IRREVOCABLY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY ACTION AT LAW OR IN EQUITY OR IN ANY OTHER PROCEEDING BASED ON OR PERTAINING TO THIS AGREEMENT OR ANY RELATED DOCUMENT.
					
						ACCOUNTABILITIES, INC.WELLS FARGO BANK, NATIONAL

					
						ASSOCIATION

					
						 

					
						 

					
						By: /s/ Michael GoldeBy: /s/ Scott Doyle

					
						Name:  Michael GoldeName:  Scott Doyle

					
						Its:  Chief Financial OfficerIts:  Authorized Signatory

					
						 

				

		
			The Customer and WFBC have executed this Agreement through their authorized officers as of the date set forth above.
		

			
					
						Wells Fargo Bank, National Association

					
						14241 Dallas Parkway, Suite 900

					
						Dallas, Texas  75254

					
						Telecopier:  (866) 968-6697

					
						Attention:  Jason M. Cole

					
						Email:  

					
						 

					
						and

					
						 

					
						110 East Broward Blvd. #1100

					
						Ft. Lauderdale, Florida  33301

					
						MAC: Z6186-110

					
						Telecopier:  (954) 761-4202

					
						Attention:  Beverly R. Ferrara

					
						Email:  

					
						 

					
						 

					
					
						WELLS FARGO BANK, NATIONAL ASSOCIATION

					
						 

					
						 

					
						By:                /s/ Scott Doyle                                    

					
						Name:    Scott Doyle

					
						Its:    Authorized Signatory

				
	
					
						Accountabilities, Inc.

					
						160 Broadway, 13th Floor

					
						New York, New York  10038

					
						Telecopier:  (212) 346-9601

					
						Attention:  Michael Golde

					
						Email:  

					
						Federal Employer ID No.:  11-3255619

					
						Organization No.:    DE 3651620

					
					
						ACCOUNTABILITIES, INC.

					
						 

					
						 

					
						 

					
						 

					
						By:                /s/ Michael Golde                        

					
						Name:    Michael Golde

					
						Its:  Chief Financial Officer

				

		
			 
		

		

		

		 

		

			Signature Page to Account Purchase Agreement

		

		

			 

		

 

		

			 

		

		Exhibit A
		

		
			To
		

		
			Account Purchase Agreement
		

		
			 
		

		
			Legal Names, Trade Names, DBAs and other Fictitious Names
		

		
			 
		

			
					
						Legal Name and Jurisdiction

					
					
						Trade Name, DBA Or Fictitious Name Used

					
					
						Date Of First Use Of Trade Name, DBA Or Fictitious Name; How Acquired

					
					
						State(s) in which Trade Name, DBA or Fictitious Name

					
						is registered

				
	
					
						ACCOUNTABILITIES INC.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Feb-13

					
					
						CA COUNTIES: LOS ANGELES, NAPA, SACRAMENTO, SAN JOAQUIN, SOLANO

				
	
					
						ACCOUNTABILITIES INC.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Feb-13

					
					
						CO - SOS

				
	
					
						ACCOUNTABILITIES INC.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Feb-13

					
					
						CT- SOS

				
	
					
						ACCOUNTABILITIES INC.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Feb-13

					
					
						DE - KENT COUNTY

				
	
					
						ACCOUNTABILITIES INC.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Feb-13

					
					
						FL - MULTIPLE COUNTIES

				
	
					
						ACCOUNTABILITIES INC.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Feb-13

					
					
						NJ - SOS

				
	
					
						ACCOUNTABILITIES INC.,

					
						a Delaware Corporation

					
					
						CRS - Corporate Resource Services

					
					
						Pending 5.30.13

					
					
						PA - SOS

				
	
					
						ACCOUNTABILITIES INC.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Feb-13

					
					
						WA - SOS

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Accounteknology Group

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Aldan Troy Group

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						B. Barnes Associates

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Corporate Resource Dev Inc.

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						CRD Staffing

					
					
						Assumed Name Certificate Filed On Or About November 18, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Creative Network Systems

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Decorum Consulting Group

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Diversity Staffing

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Diversity Services Of Dc

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						F.S.I. Services

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						H R Staffing

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						J.D. & Tuttle Hospitality Staffing

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Lerner, Cumbo & Associates

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						On The Marks Personnel

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Park Avenue Design Placement

					
					
						Assumed Name

					
						Certificate Filed On

					
						4-Nov-11

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Paulson Search

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						People

					
						Finders Plus

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Personnel Specialist

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Prompt Personnel Associates

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Pyramid

					
						Staffing Service

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						RWP Solutions

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Searchpoint 1

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Segue Search

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Segue Search

					
						Of Connecticut

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Staff "One"

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Staff Design

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Staffing Remedies

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Staffing Unlimited.Com

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Strategic Resources Staffing

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Synergy Personnel

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						TDF Consulting Group

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Temporary Alternatives

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Temporary Services

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						The Drayer Search Group

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						The Employment Source Inc.

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						The Gold Standard

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						The Miller Cang Agency

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						The Professionals Personnel

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						The Source

					
					
						Assumed Name Certificate Filed On Or About November 18, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						The Source (Barneys)

					
					
						Assumed Name Certificate Filed On Or About November 18, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						The Tuttle

					
						Agency Inc.

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Triangle Personnel Associates

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Troy Associates

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Tuttle Agency Of Pennsylvania

					
					
						Assumed Name Certificate Filed On June 15, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Tuttle Hospitality

					
					
						Assumed Name Certificate Filed On Or About November 18, 2011

					
					
						New York County

				
	
					
						Corporate Resource Development Inc., a Delaware corporation

					
					
						Tuttle In-House Staff

					
					
						Assumed Name Certificate Filed On Or About November 18, 2011

					
					
						New York County

				
	
					
						 

				
	
					
						Corporate Resource Development Inc., a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/26/2013

					
					
						CT- SOS

				
	
					
						Corporate Resource Development Inc., a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/13/2013

					
					
						DE - KENT COUNTY

				
	
					
						Corporate Resource Development Inc., a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/18/13

					
					
						FL - MULTIPLE COUNTIES

				
	
					
						Corporate Resource Development Inc., a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/15/13

					
					
						GA - SOS

				
	
					
						Corporate Resource Development Inc., a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/25/13

					
					
						NC - Wake County

				
	
					
						Corporate Resource Development Inc., a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/19/13

					
					
						NJ - SOS

				
	
					
						Corporate Resource Development Inc., a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 4/8/13

					
					
						NV - SOS

				
	
					
						Corporate Resource Development Inc., a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/19/13

					
					
						NY - SOS

				
	
					
						Corporate Resource Development Inc., a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/5/13

					
					
						VA - SOS

				
	
					
						Corporate Resource Development Inc., a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/19/13

					
					
						WA - SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware corporation

					
					
						Cameo Personnel Systems

					
					
						Assumed Name Certificate Filed On April 18, 2011

					
					
						New Jersey

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware corporation

					
					
						Corporate Resource Services

					
					
						Still Pending As Of 5.30.13

					
					
						Texas

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware corporation

					
					
						CRS

					
					
						Pending

					
					
						Texas, City of Irving

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware corporation

					
					
						Top Line Staffing

					
					
						Assumed Name Certificate Filed On August 6, 2012

					
					
						California, County of Riverside

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware corporation

					
					
						Top Line Staffing

					
					
						Assumed Name Certificate Filed On August 2, 2012

					
					
						New York County

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware corporation

					
					
						Top Line Staffing

					
					
						Assumed Name Certificate Filed On August 6, 2012

					
					
						California, County of San Bernardino

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware corporation

					
					
						Top Line Staffing

					
					
						Assumed Name Certificate Filed On August 3, 2012

					
					
						Delaware, Kent County

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware corporation

					
					
						Top Line Staffing

					
					
						Assumed Name Certificate Filed On August 6, 2012

					
					
						California, Orange County

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware corporation

					
					
						Top Line

					
						Staffing

					
					
						Assumed Name Certificate Filed On

					
						19-Apr-11

					
					
						NJ State

				
	
					
						 

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Pending 5.29.13

					
					
						AZ SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/19/13

					
					
						CA COUNTIES: ALAMEDA, LOS ANGELES, ORANGE AND SAN BERNARDINO

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/19/2013

					
					
						CT SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						 a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/18/13

					
					
						DC SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/18/13

					
					
						DE - Kent County

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed Multiple Counties

					
					
						FL

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/18/13

					
					
						GA SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/18/13

					
					
						IA SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						CRS - Corporate Resource Services

					
					
						Filed 5/21/13 -

					
					
						IL SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/13/13

					
					
						IN SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 5/24/13 -

					
					
						MA COUNTIES OF Chelmsford, Clinton, Leominster, Milford, New Bedford, Somerville, Boston and Webster

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						CRS - Corporate Resource Services

					
					
						Filed 5/28/13 -

					
					
						MD SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Pending 5.30.13

					
					
						ME SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						CRS - Corporate Resource Services

					
					
						Filed 5/24/13 -

					
					
						MI SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/18/13

					
					
						NC - Wake County

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/13/13

					
					
						NJ SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/14/13

					
					
						NY SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/13/13

					
					
						OH SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						CRS - Corporate Resource Services

					
					
						Filed 5/24/13 -

					
					
						OR SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Pending 5.30.13

					
					
						PA SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Pending 5.30.13

					
					
						RI SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 4.12.13

					
					
						SC SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 4/12/13

					
					
						TX SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/18/13

					
					
						UT SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 4/8/13

					
					
						VA SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						CRS - Corporate Resource Services

					
					
						Pending 5.30.13

					
					
						VT SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/13/13

					
					
						WA SOS

				
	
					
						Diamond Staffing Services, Inc.,

					
						a Delaware Corporation

					
					
						CRS - Corporate Resource Services

					
					
						Filed 5.30.13

					
					
						WV SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						AZ

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed February 2013

					
					
						CA COUNTIES: ALAMEDA, LOS ANGELES, ORANGE AND SAN BERNARDINO

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						CO

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						CT SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						DC SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						DE SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						FL

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 3/15/13

					
					
						GA SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 3/18/13

					
					
						IA SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						IL SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						IN SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Pending 5.24.13

					
					
						KS SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						KY SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						LA SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 3/22/13

					
					
						MA - City of Boston

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						MD SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						ME SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						MI SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						MN - State & Pubs in Hennaing City complete

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						MO SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						NC - Filed Wake County

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						NJ SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Pending 5.24.13

					
					
						NM SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 4/10/13

					
					
						NV SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						NY SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						OH SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						OR SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						PA SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						RI SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 4/12/13

					
					
						SC SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						TN SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2/15/13

					
					
						TX SOS & Harris County

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 3/18/2013

					
					
						UT SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 3/5/13

					
					
						VA SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						VT SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						WA SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						WI SOS

				
	
					
						Insurance Overload Services, Inc.          (a Delaware Corporation)

					
					
						Corporate Resource Services, Insurance Overload Staffing

					
					
						Filed 2013

					
					
						WV SOS

				
	
					
						 

				
	
					
						STS Group, Inc., a Florida Corporation

					
					
						Ser Professional Services

					
					
						Assumed Name Certificate Filed On April 28, 2008;

					
						Registered Fictitious Name

					
					
						Florida – Multiple Counties

				
	
					
						STS Group, Inc., a Florida Corporation

					
					
						Sts Solutions, Inc.

					
					
						Assumed Name Certificate Filed On  September 9, 2008;

					
						Registered Fictitious Name

					
					
						Florida – Multiple Counties

				
	
					
						STS Group, Inc., a Florida Corporation

					
					
						Tri-State Employment

					
						Services, Inc.

					
					
						Assumed Name Certificate Filed On January 30, 2003;

					
						Registered Fictitious Name

					
					
						Florida – Multiple Counties

				
	
					
						 

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						[Intentionally Left Blank]

					
					
						Although Not A DBA, Effective November 10, 2011, TS Staffing Corp.

					
						Merged Into TS Staffing Services, Inc., A TX Corp., Which Was The Surviving Entity

					
					
						 

				
	
					
						 

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						[Intentionally Left Blank]

					
					
						Although Not A DBA, Effective November 10, 2011, TS Staffing Corp.

					
						Merged Into TS Staffing Services, Inc., A TX Corp., Which Was The Surviving Entity4

					
					
						N/A

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						American Workforce

					
					
						Assumed Name Certificate Filed On January 7, 2008;

					
						Registered Fictitious Name Of TS Staffing Corp.; Acquired By Merger

					
					
						 

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On January 7, 2008;

					
						Registered Fictitious Name Of TS Staffing Corp.; Acquired By Merger

					
					
						 

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Lumea

					
					
						Assumed Name Certificate Filed On Or About October 5, 2012

					
					
						Florida – Multiple Counties

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 5/16/13

					
					
						AR SOS

				
	
					
						TS Staffing Services, Inc.,
a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 4/5/13

					
					
						AZ SOS

				
	
					
						TS Staffing Services, Inc.

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed February 2013

					
					
						CA counties of Los Angeles, Orange, San Bernardino and Ventura

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 1/3/2012

					
					
						CO SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/26/13

					
					
						CT SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/19/13

					
					
						DC SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/13/13

					
					
						DE - Kent County

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/15/13

					
					
						Florida – Multiple Counties

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/15/13

					
					
						GA SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/2013

					
					
						HI SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/18/13

					
					
						IA SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/19/13

					
					
						ID SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Pending 5.30.13

					
					
						IL SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/19/13

					
					
						IN SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Pending 5.24.13

					
					
						KS SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2013

					
					
						KY SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/22/17

					
					
						MA - City of Boston Clerk

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/21/13

					
					
						MD SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services - CRS

					
					
						Pending 5.29.13

					
					
						ME SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services - CRS

					
					
						Filed 5/24/13 -

					
					
						MI SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/19/13

					
					
						MN SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/18/13

					
					
						MO SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 4/10/13

					
					
						MS SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/20/13

					
					
						MT SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 2/25/13

					
					
						NC SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Pending Name Conflict

					
					
						NH SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/19/13

					
					
						NJ SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 4/8/13

					
					
						NV SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/19/13

					
					
						NY SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/19/18

					
					
						OH SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						CRS - Corporate Resource Services

					
					
						Filed 5/24/13 -

					
					
						OK SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services - CRS

					
					
						Filed 5/24/13 -

					
					
						OR SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Pending 5.29.13

					
					
						PA SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Pending 5.24.13

					
					
						RI SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 4/12/13

					
					
						SC SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						CRS - Corporate Resource Services

					
					
						Filed 5/24/13 -

					
					
						TN SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/21/13

					
					
						TX SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/18/13

					
					
						UT SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/5/2013

					
					
						VA SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 3/18/13

					
					
						WA SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						Corporate Resource Services

					
					
						Filed 4/17/13

					
					
						WI SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas Corporation

					
					
						CRS - Corporate Resource Services

					
					
						Filed 5.30.13

					
					
						WV SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About April 25, 2012

					
					
						Alaska SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 25, 2012

					
					
						Alaska SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About April 25, 2012

					
					
						Arizona SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 26, 2012

					
					
						Arizona SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 9, 2012

					
					
						Arkansas SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 1, 2012

					
					
						Arkansas SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						California – Orange County

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						California – Orange County

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 17, 2012

					
					
						California – San Bernardino Co.

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 17, 2012

					
					
						California – San Bernardino Co.

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 17, 2012

					
					
						California – Ventura Co.

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 18, 2012

					
					
						California – Ventura Co.

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						California Los Angeles County

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						California Los Angeles County

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						Colorado SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						Colorado SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						Connecticut -  Old Say brook town Clerk

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						Connecticut -  Old Say brook town Clerk

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About December 30, 2011

					
					
						Delaware – Kent Co. Protonotary

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About December 30, 2011

					
					
						Delaware – Kent Co. Protonotary

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						American Workforce

					
					
						Assumed Name Certificate Filed On January 7, 2008;

					
						Registered Fictitious Name Of TS Staffing Corp.; Acquired By Merger

					
					
						Florida

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On January 7, 2008;

					
						Registered Fictitious Name Of TS Staffing Corp.; Acquired By Merger

					
					
						Florida

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Personally Yours Services

					
					
						Assumed Name Certificate Filed On Or About January 24, 2013

					
					
						Florida – County of Broward,  West Palm Beach and Miami-Dade

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						American Workforce

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						Florida SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						AWF

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						Florida SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						FER Restoration Services

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						Florida SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						Florida SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						Florida SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						Georgia – Gwinnett Co. Clerk

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						Georgia – Gwinnett Co. Clerk

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About April 12, 2012

					
					
						Hawaii

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 12, 2012

					
					
						Hawaii

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About April 12, 2012

					
					
						Idaho SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 12, 2012

					
					
						Idaho SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 6, 2012

					
					
						Illinois - SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Mercy Nursing

					
					
						Assumed Name Certificate Filed On Or About October 3, 2012

					
					
						Illinois – SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 6, 2012

					
					
						Illinois- SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 6, 2012

					
					
						Indiana - SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 6, 2012

					
					
						Indiana - SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						Iowa - SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 3, 2012

					
					
						Iowa - SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 9, 2012

					
					
						Maryland – Dept of Assessments and Taxation

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 6, 2012

					
					
						Maryland – Dept of Assessments and Taxation

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About December 30, 2011

					
					
						Massachusetts – Boston City Clerk

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About December 30, 2011

					
					
						Massachusetts – Boston City Clerk

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About April 12, 2012

					
					
						Minnesota SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 12, 2012

					
					
						Minnesota SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 6, 2012

					
					
						Mississippi -Dept Of Energy, Labor & Economic Growth, Bureau Of Commercial Services

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About March 29, 2012

					
					
						Mississippi -Dept Of Energy, Labor & Economic Growth, Bureau Of Commercial Services

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About April 16, 2012

					
					
						Mississippi SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 16, 2012

					
					
						Mississippi SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About April 12, 2012

					
					
						Missouri SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 12, 2012

					
					
						Missouri SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About February 16, 2012

					
					
						New Hampshire - SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 10, 2012

					
					
						New Hampshire – SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 6, 2012

					
					
						New Jersey – Dept of Revenue

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 6, 2012

					
					
						New Jersey – Dept of Revenue

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Odyssey

					
					
						Assumed Name Certificate Filed On Or About December 16, 2011

					
					
						New York - SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-Odyssey

					
					
						Assumed Name Certificate Filed On Or About December 16, 2011

					
					
						New York - SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About December 16, 2011

					
					
						New York - SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About December 16, 2011

					
					
						New York - SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About April 24, 2012

					
					
						North Carolina County

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 24, 2012

					
					
						North Carolina County

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About April 19, 2012

					
					
						Ohio SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 19, 2012

					
					
						Ohio SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About April 12, 2012

					
					
						Oklahoma SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 12, 2012

					
					
						Oklahoma SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About April 24, 2012

					
					
						Oregon SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 24, 2012

					
					
						Oregon SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 27, 2012

					
					
						Pennsylvania SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About May 25, 2012

					
					
						South Carolina SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About May 25, 2012

					
					
						South Carolina SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About April 12, 2012

					
					
						Tennessee SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 12, 2012

					
					
						Tennessee SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						On Demand Staffing

					
					
						Assumed Name Certificate To Be Filed On Or About November 23, 2011

					
					
						Texas

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 4, 2012

					
					
						Texas - HARRIS CO.

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 4, 2012

					
					
						Texas - HARRIS CO.

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						PBS

					
					
						Assumed Name Certificate Filed On Or About January 4, 2012

					
					
						Texas – Harris County

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						People Business Solutions

					
					
						Assumed Name Certificate Filed On Or About January 4, 2012

					
					
						Texas – Harris County

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						PBS

					
					
						Assumed Name Certificate Filed On Or About January 6, 2012

					
					
						Texas - SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						People Business Solutions

					
					
						Assumed Name Certificate Filed On Or About January 6, 2012

					
					
						Texas - SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About January 6, 2012

					
					
						Texas - SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About January 6, 2012

					
					
						Texas - SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About April 12, 2012

					
					
						Utah SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 12, 2012

					
					
						Utah SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About May 30, 2012

					
					
						Virginia SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About May 30, 2012

					
					
						Virginia SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About April 24, 2012

					
					
						West Virginia SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About April 24, 2012

					
					
						West Virginia SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Tri-State Staffing

					
					
						Assumed Name Certificate Filed On Or About May 30, 2012

					
					
						Wisconsin SOS

				
	
					
						TS Staffing Services, Inc.,

					
						a Texas corporation

					
					
						Ts Staffing

					
					
						Assumed Name Certificate Filed On Or About May 30, 2012

					
					
						Wisconsin SOS

				

		 

		

			A-1

		

		

			 

		

 

		

			 

		

		 

		

			A-2

		

		

			 

		

 

		

			 

		

		 

		

			A-3

		

		

			 

		

 

		

			 

		

		 

		

			A-4

		

		

			 

		

 

		

			 

		

		 

		

			A-5

		

		

			 

		

 

		

			 

		

		 

		

			A-6

		

		

			 

		

 

		

			 

		

		 

		

			A-7

		

		

			 

		

 

		

			 

		

		 

		

			A-8

		

		

			 

		

 

		

			 

		

		 

		

			A-9

		

		

			 

		

 

		

			 

		

		 

		

			A-10

		

		

			 

		

 

		

			 

		

		 

		

			A-11

		

		

			 

		

 

		

			 

		

		 

		

			A-12

		

		

			 

		

 

		

			 

		

		 

		

			A-13

		

		

			 

		

 

		

			 

		

		 

		

			A-14

		

		

			 

		

 

		

			 

		

		 

		

			A-15

		

		

			 

		

 

		

			 

		

		 

		

			A-16

		

		

			 

		

 

		

			 

		

		 

		

			A-17

		

		

			 

		

 

		

			 

		

		 

		

			A-18

		

		

			 

		

 

		

			 

		

		 

		

			A-19

		

		

			 

		

 

		

			 

		

		 

		

			A-20

		

		

			 

		

 

		

			 

		

		 

		

			A-21

		

		

			 

		

 

		

			 

		

		 

		

			A-22

		

		

			 

		

 

		

			 

		

		 

		

			A-23

		

		

			 

		

 

		

			 

		

		 

		

			A-24

		

		

			 

		

 

		

			 

		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			A-25

		

		

			 

		

 

		

			 

		

		Exhibit B
		

		
			To
		

		
			Account Purchase Agreement
		

		
			
		

		
			 
		

		
			Permitted Liens
		

		
			 
		

		
			NONE
		

		
			 
		

		
			 
		

		 

		

			A-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00218-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00218-of-00352.parquet"}]]