Document:

ex10-12.htm

    Exhibit
10.12

    

    

    SALARY
CONTINUATION PLAN

    Amended
and Restated November 14, 2008

    

    

    This
Salary Continuation Plan (“Plan”) has been established by SUPERIOR INDUSTRIES
INTERNATIONAL, INC., a California Corporation (the “Company”), effective March
28, 2008, and amended effective November 14, 2008, based upon the following
facts and circumstances:

    

    A. The
Company wishes to promote in its executive employees and directors increased
efficiency in their work and the strongest possible interest in the successful
operation of the Company and to provide certain executive employees and
directors (each, a “Participant”) and their families with benefits upon the
retirement or death of such directors or employees.

    

    B. The
Company recognizes the valuable services heretofore performed for it by the
Participant and wishes to encourage the Participant’s continued relationship
with the Company.

    

    C. In order
to achieve these goals, the Company is establishing this Plan.

    

    NOW, THEREFORE, IT IS AGREED AS
FOLLOWS:

    

    1.             
Definitions.

    1.1           
Administrative
Committee.  "Administrative Committee" shall mean the committee
appointed pursuant to Section 5 hereof.

    

    1.2            Affiliate.  “Affiliate”
shall mean all persons with whom the Company would be considered a single
employer under Section 414(b) or Section 414(c) of the Code, except that, for
purposes of determining whether there is a controlled group or common control,
the language “at least 50 percent” is used instead of “at least 80
percent.”

    

    1.3           Agreement.  “Agreement”
shall mean the agreement entered into between the Company and the Participant
evidencing a grant of benefits under the Plan.

    

    1.4            Beneficiary.  "Beneficiary"
shall mean the Beneficiary, or each Beneficiary, designated by the Participant
pursuant to Section 4 hereof.

    

    1.5            Code.  “Code”
shall mean the Internal Revenue Code of 1986, as amended from time to time, and
any successor, along with related rules, regulations, and
interpretations.

    

    1.6            Company.  “Company”
shall mean Superior Industries International, Inc.  Where the context
requires, reference to the Company shall include an Affiliate.

    

    1.7            Compensation.  "Compensation"
shall mean the base salary and any
annual directors' retainer paid or accrued to or for the Participant with
respect to each calendar month for personal services rendered by the Participant
to the Company during such month, but shall not include any commission, bonus,
meeting fee or other payment.

    

    1.8           Disability.  “Disability”
shall mean that a Participant meets one of the following
requirements:

    

    
      	
              (i)  

            	
              the
      Participant is unable to engage in any substantial gainful activity by
      reason of any medically determinable physical or mental impairment that
      can be expected to result in death or can be expected to last for a
      continuous period of not less than twelve months;
  or

            

    

    

    
      	
              (ii)  

            	
              if
      the Participant is covered by an accident and health plan covering
      employees of the Company, the Participant is, by reason of any medically
      determinable physical or mental impairment that can be expected to result
      in death or can be expected to last for a continuous period of not less
      than twelve months, receiving income replacement benefits for a period of
      not less than three months under an accident and health plan covering
      employees of the Company.

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    1.9           Final Average
Compensation. "Final Average Compensation" shall mean the average monthly
Compensation paid to, or accrued for the benefit of, the Participant with
respect to the 36 months of the Participant's employment or service (or the
entire period of the Participant's employment or service if shorter than 36
months) immediately preceding the month in which occurs the Participant's
Separation from Service.

    

    1.10           Retirement Date.
"Retirement Date" shall mean the later of (i) the Participant's sixty-fifth
(65th)
birthday or (ii) the day upon which occurs the Participant's Separation from
Service on or after the Vesting Date.

    

    1.11           Separation from
Service. "Separation from Service" shall mean a separation from services
from the Company and the Company’s Affiliates as defined for purposes of Section
409A(a)(2)(A)(i) of the Code, except that a reduction in level of services
performed by a Participant to a level equal to twenty one (21) percent or less
of the average level of services performed during the immediately preceding
thirty-six (36) months (or such shorter period as the Participant shall have
performed services for the Company) shall be presumed to be a “Separation from
Service.”

    

    1.12           Vesting Date.
"Vesting Date" with respect to the Participant shall mean the earliest to occur
of (a) the date set forth in the Participant’s Agreement; or (b) the date upon
which the Participant becomes Disabled.

    

    2.            Retirement
Benefits.

    

    2.1           Amount of Benefit. If
the Participant's Separation from Service occurs on or after the Vesting Date
for reasons other than his death, the Company shall pay to the Participant a
monthly benefit equal to thirty percent (30%) of the Participant's Final Average
Compensation.

    

    2.2           Period of Payment.
Payment of the retirement benefit specified in Section 2.1 shall commence on the
first day of the month coinciding with or next following the Participant's
Retirement Date and shall continue on the first day of each month thereafter
through and including the first day of the month coinciding with or next
preceding the Participant’s death.  Notwithstanding the foregoing, if
the Participant is a “specified employee” for purposes of Section 409A of the
Code as of the Participant’s Separation from Service and payment of an amount
that is subject to Section 409A of the Code is otherwise required to be made on
the first day of the month coinciding with or next following the Retirement Date
described in Section 1.10(ii) of the Plan, payments to which the Participant
would otherwise be entitled during the first six months following the date of
Separation from Service shall be accumulated and paid on the first day of the
seventh month following the date of the Separation from Service.

    

    3.            Survivorship
Benefits.

    
 

    3.1           Death Prior to Separation
from Service. If the Participant's Separation from Service occurs due to
the Participant's death, the Company shall pay to the Participant's Beneficiary
120 monthly payments,
each in an amount equal to thirty percent (30%) of the Participant's Final
Average Compensation. Such payments shall commence within 90 days following the
Participant’s death and shall continue on the first day of each of the 119
months after the first payment.

    

    3.2            Death After Separation from
Service but Prior to Retirement Date. If the Participant's Separation
from Service occurs on or after the Vesting Date for reasons other than his
death and the Participant subsequently dies prior to the commencement of
retirement benefit payments under Section 2.2, the Company shall pay to the
Participant's Beneficiary 120 monthly payments, each in an amount equal to
thirty percent (30%) of the Participant's final Average Compensation. Such
payments shall commence within 90 days following the Participant’s death and
shall continue on the first day of each of the 119 months after the first
payment.

    

    3.3           Death After Commencement of
Retirement Benefits. If the Participant dies after retirement benefit
payments have commenced under Section 2 hereof, but prior to his having received
120 such monthly payments, the Company shall continue such monthly payments to
the Participant's Beneficiary in the same amount and at the same time said
payments would have been paid to the Participant until the total of the monthly
payments made to the Participant, plus the payments made to the Participant’s
Beneficiary, equals 120.

    

    3.4           Death of Beneficiary.
In the event a Beneficiary receiving payments under this Section 3 dies before
receiving all the payments due to such Beneficiary, the Company shall continue
such monthly payments to the Beneficiary's estate in the same amount and at the
same time said payments would have been paid to the Beneficiary until the total
of the monthly payments made to the Participant, plus the payments made to the
Participant’s Beneficiary and the Beneficiary’s estate, equals 120.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    4. Beneficiaries.

    

      
4.1           Designation of
Beneficiary. Subject to the limitations specified in Section 4.2, hereof,
the Participant may designate a Beneficiary or Beneficiaries by filing a written
notice of such designation with the Administrative Committee in such form as the
Administrative Committee may prescribe. The Participant may revoke or modify
such designation at any time by a further written designation. The Participant’s
designation of a Beneficiary shall be deemed automatically revoked in the event
that the Beneficiary predeceases the Participant. If no designation shall be in
effect at the time the benefits are payable under this Plan, the Beneficiary or
Beneficiaries shall be the Participant's spouse, or if no spouse is then living,
the Participant's children or the issue of any deceased child by right of
representation or, if none of the foregoing is living, then the Participant's
estate. If more than one Beneficiary becomes entitled to a survivorship benefit
either by designation of the Participant or otherwise, the benefit specified
herein shall be divided equally among such Beneficiaries.

    

     
4.2           Limitations on Designation
of Beneficiary. If the Participant's Compensation constitutes community
property, no person other than the Participant's spouse shall be designated as a
Beneficiary unless (i) such spouse shall approve such designation in writing and
(ii) such designation is approved by the Administrative Committee.

    

     4.3           Minors; Persons Declared
Incompetent. In the event a benefit is payable to a minor or to a person
who is declared incompetent the Company may pay such benefit to the guardian,
legal representative or person or persons having the care or custody of such
minor or incompetent. The Administrative Committee may require such proof of
incompetency, minority or guardianship as it may deem appropriate prior to the
distribution of the benefit.  Such distribution shall completely
discharge the Administrative Committee and the Company from all liability with
respect to such benefit.

    

    5. Administrative
Committee

    

     5.1           Appointment of
Committee. The Board of Directors of the Company shall appoint an
Administrative Committee consisting of three (3) or more persons to administer
and interpret this Plan. The interpretation and construction of this Plan by the
Administrative Committee, and any action taken there under, shall be binding and
conclusive upon all parties in interest. No member of the Administrative
Committee shall, in any event, be liable to any person for any action taken or
omitted to be taken in connection with the interpretation, construction or
administration of this Plan, so long as such action or omission to act is made
in good faith. The Administrative Committee may adopt rules and regulations
relating to this Plan as it may deem necessary or advisable.

    

    5.2           Named Fiduciary. The
Administrative Committee is hereby designated as the named fiduciary under this
Plan. The named fiduciary shall have authority to control and manage the
operation and administration of this Plan, and it shall be responsible for
establishing and carrying out a funding policy and method consistent with the
objectives of this Plan.

    

    5.3           Claims Procedure. If
the Participant or a Beneficiary is denied all or a portion of an expected
benefit under this Plan for any reason, he or she may file a claim with the
Administrative Committee within thirty (30) days of such denial. The
Administrative Committee shall notify the claimant within sixty (60) days of
allowance or denial of the claim, unless the claimant receives written notice
from the Administrative Committee prior to the end of the sixty (60) day period
stating that special circumstances require extension of time for decision, which
extension of time shall not exceed an additional sixty (60) days. The notice of
the Administrative Committee's decision shall be in writing, sent by mail to the
claimant's last known address, and, if a denial of the claim, must contain the
following information:

    

    (a) the
specific reasons for denial,

    

    
      	
              (b)  

            	
              specific
      reference to pertinent provisions of this Plan on which the denial is
      based,

            

    

    

    
      	
              (c)  

            	
              if
      applicable, a description of any additional information or material
      necessary to perfect the claim and an explanation of why such information
      or additional material is necessary,
and

            

    

                                                                                                 

                                                                                                 
(d) an
explanation of the claims review procedure.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    5.4           Review Procedure. A
claimant is entitled to request a review of any denial of his claim by the
Administrative Committee, which request for review must be submitted in writing
within sixty (60) days of the mailing of the notice of denial. Absent a request
for review within the sixty (60) day period, the claim will be deemed to be
conclusively denied. The claimant or his representative shall be entitled to
review all pertinent documents. The review shall be conducted by the
Administrative Committee, which shall afford the claimant a hearing and the
opportunity to submit issues, records, documents, and comments orally and in
writing. The Administrative Committee shall render a review decision in writing,
all within sixty (60) days after a receipt of a request for review, unless the
claimant receives written notice from the Administrative Committee prior to the
end of the sixty (60) day period stating that special circumstances require
extension of time for decision, which extension of time shall not exceed an
additional sixty (60) days. The claimant shall be given written notice of the
Administrative Committee's review decision, together with specific reasons for
the decision and reference to the pertinent provisions of this
Plan.

    

    5.5           Disability Benefits Claims
and Review Procedures.  If a Participant’s claim is a claim for
disability benefits subject to Department of Labor (“DOL”) regulation §
2560.503-1, the procedures in Sections 5.3 and 5.4 above shall be modified to
comply with the DOL regulations governing disability claims.

    

    6.            Funding.

    

    6.1           No Trust. Nothing
contained in this Plan, and no action taken pursuant to its provisions by either
party hereto, shall create, or be construed to create, a trust of any kind for
the benefit of the Participant, his Beneficiary, or his estate. Payments to the
Participant or his designated Beneficiary hereunder shall be made from assets
which shall continue, for all purposes, to be a part of the general assets of
the Company, and no person, other than the Company, shall have, by virtue of the
provisions of this Plan, any interest in such assets. To the extent that any
person acquires a right to receive payments from the Company under the
provisions hereof, such rights shall be no greater than the rights of any
unsecured general creditor of the Company.

    

    6.2           Life Insurance. The
Company may, in its discretion, apply for and procure as owner and for its own
benefit, insurance or annuity contracts on the life of the Participant in such
amounts and in such forms as the Company may choose. In such event, neither the
Participant nor any Beneficiary shall have any rights whatsoever in such
contract or contracts and the Company shall possess and may exercise all
incidents of ownership therein. At the request of the Company, the Participant
shall submit to medical examinations and shall supply such information and
execute such documents as may be required by the insurance company or companies
to whom the Company has applied for such insurance, including but not limited to
any consents which may be required under the Pension Protection Act or other
applicable laws.

    

    7.            Miscellaneous.

    

    7.1           Assignment. Neither
the Participant nor any Beneficiary shall have any right to assign the right to
receive any benefits hereunder and any attempted assignment or transfer shall
excuse the Company from making any further payments to the purported
assignor.

    

    7.2           No Guarantee of
Employment. Neither this Plan nor any action taken hereunder shall be
construed as giving the Participant the right to be retained as an employee of
the Company for any period.

    

    7.3           Lack of Vesting. No
benefit hereunder shall be paid to, or with respect to the employment or service
of, a Participant whose Separation from Service is for reasons other than death
and occurs before the Vesting Date.

    

    7.4           Taxes. The Company
shall deduct from all payments made hereunder all applicable federal and state
taxes required by law to be withheld from any such payment.  Taxes
required by law to be withheld at vesting of benefits hereunder shall be
collected from the Participant in the year of vesting.  The Company is
authorized to satisfy any tax withholding obligation at vesting by deducting
such taxes from any other compensation due the Participant, collecting from the
Participant cash or a certified check, or reducing the benefit payable under the
Plan.

    

    7.5           Amendment and
Termination. This Plan may be amended or terminated by the Company;
provided, however, that no such amendment or termination may adversely affect
the rights of individuals who are Participants or Beneficiaries as of the date
of such amendment or termination.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    7.6           Form of
Communication. Any notice, claim, application or other communication
required or permitted to be given under the provisions of this Plan shall be in
writing and in such form as the Administrative Committee may prescribe. If such
communication is made to Participant, it shall be made by personal delivery or
sent by United States certified mail, postage pre-paid, addressed to the
Participant's last known address as shown on the records of the Company. Any
communication to the Company or to the Administrative Committee shall be made by
personal delivery or sent by United States certified mail, postage pre-paid,
addressed to the Company's executive offices at 7800 Woodley Avenue, Van Nuys,
California 91406, or such other address as may be designated in writing by the
Company. The date of mailing shall be deemed the date of any such notice,
consent, application or demand.

     

                                   
7.7          Captions. The
captions at the head of a section or paragraph of this Plan are designed for
convenience of reference only and are not to be used for the purpose of
interpreting any provision of this Plan.

     

                                   
7.8          Construction. This
Plan shall be construed according to the laws of the State of
California.

     

                                   
7.9          Gender and Form. In
this Plan, where appropriate, the masculine gender includes the feminine and
neuter gender and words in the singular form include the plural form, and vice
versa.

     

                                    
7.10          Severability. The
invalidity of any portion of this Plan shall not invalidate the remainder
thereof and said remainder shall continue in force and effect to the fullest
extent permitted by law.

     

                                    
7.11          Binding Agreement.
This Plan shall be binding upon and inure to the benefit of the Company and its
successors and assigns and the Participant and, to the extent its context
permits, to his successors, heirs, executors, administrators and
Beneficiaries.

     

                                    
7.12          Funding.  Notwithstanding
any other provision of this Plan, (a) this Plan constitutes a mere promise by
the Company to make benefit payments in the future; (b) the Participant shall
have no rights to amounts under this Plan or to any specified assets of the
Company; (c) the Participant shall have the status of a general unsecured
creditor of the Company; (d) the Company in no way guarantees any payments under
the Plan; and (e) any and all investments remain the property of the
Company.

     

                                    
7.13          Top Hat
Plan.  This Plan is intended (a) to be unfunded for tax
purposes and (b) to qualify as an unfunded plan maintained primarily for the
purpose of providing deferred compensation for directors and for a select group
of management and highly compensated employees (a “top hat” plan) for purposes
of Title I of the Employee Retirement Income Security Act of 1974, as
amended.

     

                                    
7.14          Existing Agreements,
Effective Date and Section 409A Compliance. For any Participant who is
party to an existing Salary Continuation Agreement as of the date of adoption of
the Plan, such Agreement shall continue to govern unless amended with the
consent of the Company and the Participant (or the Beneficiary, if the
Participant has died).

     

                                   
With the consent of the Company and the Participant, this Plan shall apply both
to amounts deferred before 2005 (“Grandfathered Amounts”) and to amounts
deferred after 2004 (“Section 409A Amounts”), except that the six-month delay in
Section 2.2 of the Plan shall not apply to Grandfathered Amounts.  The
Plan does not represent a material modification of the Salary Continuation
Agreements that were in effect October 3, 2004.  No future amendment
of the Plan shall apply to Grandfathered Amounts to the extent such provision or
amendment would constitute a material modification of such Grandfathered Amounts
(unless the amendment expressly indicates otherwise).  With respect to
Section 409A Amounts, the Plan, as amended in November 2008, is intended to
conform to the requirements of Section 409A of the Code and the regulations
there under and, in all respects, shall be administered and construed in
accordance with such requirements.  Prior to amendment in November
2008, the Salary Continuation Agreements and the Plan were administered in good
faith compliance with Section 409A of the Code.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    IN
WITNESS WHEREOF, the Company has adopted this amended and restated Plan on
November 14, 2008, effective as of the day and year first above
written.

     

    "Company":                                      SUPERIOR
INDUSTRIES INTERNATIONAL, INC.

     

    

    By: /s/ Steven J.
Borick

                                                                
 Steven J. Borick

         
Chairman, CEO & Presidentexhibit101creditagr.htm

    
Exhibit
10.1

     

    
      

      

    

     

    [Published
CUSIP Number: ________________]

     

    

     

    

    CREDIT
AGREEMENT

    

    Dated as
of March 31, 2009

    

    among

    

    INSITUFORM
TECHNOLOGIES, INC.

    as the
Borrower,

    

    CERTAIN
DOMESTIC SUBSIDIARIES OF THE BORROWER,

    as the
Guarantors,

    

    BANK OF
AMERICA, N.A.,

    as
Administrative Agent, Swing Line Lender and L/C Issuer,

    

    FIFTH
THIRD BANK,

    U.S.
BANK, NATIONAL ASSOCIATION

    and

    BBVA
COMPASS,

    as
Co-Syndication Agents,

    

    and

    

    THE OTHER
LENDERS PARTY HERETO

    

    

    

    BANC OF
AMERICA SECURITIES LLC,

    as Sole
Lead Arranger and Sole Book Manager

    

    

    

     

    
      
         

      

      
         

        
        

        
          

          

        

      

      
         

      

    

    

    TABLE OF
CONTENTS

     

    
      

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              
                                                                
                                                                  
                                                                    
                                                                      
                                                                        
                                                                          
                                                                            
                                                                              
                                                                                
                                                                                  
                                                                                    
                                                                                      
                                                                                        
                                                                                          
                                                                                            
                                                                                              	
                                                                                                      ARTICLE
      I    DEFINITIONS AND ACCOUNTING TERMS

                                                                                                    	
                                                                                                      1

                                                                                                    
	
                                                                                                      1.01

                                                                                                    	
                                                                                                      Defined
      Terms.

                                                                                                    	
                                                                                                       
      1  

                                                                                                    
	
                                                                                                      1.02

                                                                                                    	
                                                                                                      Other
      Interpretive Provisions.

                                                                                                    	
                                                                                                      26 
      

                                                                                                    
	
                                                                                                      1.03

                                                                                                    	
                                                                                                      Accounting
      Terms.

                                                                                                    	
                                                                                                      27 
      

                                                                                                    
	
                                                                                                      1.04

                                                                                                    	
                                                                                                      Rounding.

                                                                                                    	
                                                                                                      27 
      

                                                                                                    
	
                                                                                                      1.05

                                                                                                    	
                                                                                                      Exchange
      Rates; Currency Equivalents.

                                                                                                    	
                                                                                                      27 
      

                                                                                                    
	
                                                                                                      1.06

                                                                                                    	
                                                                                                      Change
      of Currency.

                                                                                                    	
                                                                                                      28 
      

                                                                                                    
	
                                                                                                      1.07

                                                                                                    	
                                                                                                      Times
      of Day.

                                                                                                    	
                                                                                                      28 
      

                                                                                                    
	
                                                                                                      1.08

                                                                                                    	
                                                                                                      Letter
      of Credit Amounts.

                                                                                                    	
                                                                                                      28 
      

                                                                                                    
	
                                                                                                      ARTICLE
      II    THE COMMITMENTS AND CREDIT EXTENSIONS

                                                                                                    	
                                                                                                      29 
      

                                                                                                    
	
                                                                                                      2.01

                                                                                                    	
                                                                                                      Commitments.

                                                                                                    	
                                                                                                      29 
      

                                                                                                    
	
                                                                                                      2.02

                                                                                                    	
                                                                                                      Borrowings,
      Conversions and Continuations of Loans.

                                                                                                    	
                                                                                                      29 
      

                                                                                                    
	
                                                                                                      2.03

                                                                                                    	
                                                                                                      Letters
      of Credit.

                                                                                                    	
                                                                                                      32 
      

                                                                                                    
	
                                                                                                      2.04

                                                                                                    	
                                                                                                      Swing
      Line Loans.

                                                                                                    	
                                                                                                      40 
      

                                                                                                    
	
                                                                                                      2.05

                                                                                                    	
                                                                                                      Prepayments.

                                                                                                    	
                                                                                                      42 
      

                                                                                                    
	
                                                                                                      2.06

                                                                                                    	
                                                                                                      Termination
      or Reduction of Aggregate Revolving Commitments.

                                                                                                    	
                                                                                                      45 
      

                                                                                                    
	
                                                                                                      2.07

                                                                                                    	
                                                                                                      Repayment
      of Loans.

                                                                                                    	
                                                                                                      45 
      

                                                                                                    
	
                                                                                                      2.08

                                                                                                    	
                                                                                                      Interest.

                                                                                                    	
                                                                                                      46 
      

                                                                                                    
	
                                                                                                      2.09

                                                                                                    	
                                                                                                      Fees.

                                                                                                    	
                                                                                                      47

                                                                                                    
	
                                                                                                      2.10

                                                                                                    	
                                                                                                      Computation
      of Interest and Fees; Retroactive Adjustments of Applicable
      Rate.

                                                                                                    	
                                                                                                      47

                                                                                                    
	
                                                                                                      2.11

                                                                                                    	
                                                                                                      Evidence
      of Debt.

                                                                                                    	
                                                                                                      48

                                                                                                    
	
                                                                                                      2.12

                                                                                                    	
                                                                                                      Payments
      Generally; Administrative Agent’s Clawback.

                                                                                                    	
                                                                                                      48

                                                                                                    
	
                                                                                                      2.13

                                                                                                    	
                                                                                                      Sharing
      of Payments by Lenders.

                                                                                                    	
                                                                                                      50

                                                                                                    
	
                                                                                                      ARTICLE
      III    TAXES, YIELD PROTECTION AND
    ILLEGALITY

                                                                                                    	
                                                                                                      51

                                                                                                    
	
                                                                                                      3.01

                                                                                                    	
                                                                                                      Taxes.

                                                                                                    	
                                                                                                      51

                                                                                                    
	
                                                                                                      3.02

                                                                                                    	
                                                                                                      Illegality.

                                                                                                    	
                                                                                                      54

                                                                                                    
	
                                                                                                      3.03

                                                                                                    	
                                                                                                      Inability
      to Determine Rates.

                                                                                                    	
                                                                                                      54

                                                                                                    
	
                                                                                                      3.04

                                                                                                    	
                                                                                                      Increased
      Costs.

                                                                                                    	
                                                                                                      54

                                                                                                    
	
                                                                                                      3.05

                                                                                                    	
                                                                                                      Compensation
      for Losses.

                                                                                                    	
                                                                                                      56

                                                                                                    
	
                                                                                                      3.06

                                                                                                    	
                                                                                                      Mitigation
      Obligations; Replacement of Lenders.

                                                                                                    	
                                                                                                      56

                                                                                                    
	
                                                                                                      3.07

                                                                                                    	
                                                                                                      Survival.

                                                                                                    	
                                                                                                      57

                                                                                                    
	
                                                                                                      ARTICLE
      IV    GUARANTY

                                                                                                    	
                                                                                                      57

                                                                                                    
	
                                                                                                      4.01

                                                                                                    	
                                                                                                      The
      Guaranty.

                                                                                                    	
                                                                                                      57

                                                                                                    
	
                                                                                                      4.02

                                                                                                    	
                                                                                                      Obligations
      Unconditional.

                                                                                                    	
                                                                                                      57

                                                                                                    
	
                                                                                                      4.03

                                                                                                    	
                                                                                                      Reinstatement.

                                                                                                    	
                                                                                                      58

                                                                                                    
	
                                                                                                      4.04

                                                                                                    	
                                                                                                      Certain
      Additional Waivers.

                                                                                                    	
                                                                                                      59

                                                                                                    
	
                                                                                                      4.05

                                                                                                    	
                                                                                                      Remedies.

                                                                                                    	
                                                                                                      59

                                                                                                    
	
                                                                                                      4.06

                                                                                                    	
                                                                                                      Rights
      of Contribution.

                                                                                                    	
                                                                                                      59

                                                                                                    
	
                                                                                                      4.07

                                                                                                    	
                                                                                                      Guarantee
      of Payment; Continuing Guarantee.

                                                                                                    	
                                                                                                      59

                                                                                                    
	
                                                                                                      ARTICLE
      V    CONDITIONS PRECEDENT TO CREDIT
    EXTENSIONS

                                                                                                    	
                                                                                                      59

                                                                                                    
	
                                                                                                      5.01

                                                                                                    	
                                                                                                      Conditions
      of Initial Credit Extension.

                                                                                                    	
                                                                                                      59

                                                                                                    
	
                                                                                                      5.02

                                                                                                    	
                                                                                                      Conditions
      to all Credit Extensions

                                                                                                    	
                                                                                                      62

                                                                                                    
	
                                                                                                      ARTICLE
      VI    REPRESENTATIONS AND WARRANTIES

                                                                                                    	
                                                                                                      62

                                                                                                    
	
                                                                                                      6.01

                                                                                                    	
                                                                                                      Existence,
      Qualification and Power.

                                                                                                    	
                                                                                                      62

                                                                                                    
	
                                                                                                      6.02

                                                                                                    	
                                                                                                      Authorization;
      No Contravention.

                                                                                                    	
                                                                                                      63

                                                                                                    
	
                                                                                                      6.03

                                                                                                    	
                                                                                                      Governmental
      Authorization; Other Consents.

                                                                                                    	
                                                                                                      63

                                                                                                    
	
                                                                                                      6.04

                                                                                                    	
                                                                                                      Binding
      Effect.

                                                                                                    	
                                                                                                      63

                                                                                                    

                                                                                            

                                                                                          

                                                                                        

                                                                                      

                                                                                    

                                                                                  

                                                                                

                                                                              

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                  

                                                                

                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

      
        
           

        

        
          i 

          
            

          

        

        
           

        

      

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              
                                                                
                                                                  
                                                                    
                                                                      
                                                                        
                                                                          
                                                                            
                                                                              
                                                                                
                                                                                  
                                                                                    
                                                                                      
                                                                                        
                                                                                          
                                                                                            
                                                                                              
                                                                                                
                                                                                                  
                                                                                                    
                                                                                                      
                                                                                                        
                                                                                                          
                                                                                                            
                                                                                                              
                                                                                                                
                                                                                                                  	
                                                                                                                          6.05

                                                                                                                        	
                                                                                                                          Financial
      Statements; No Material Adverse Effect.

                                                                                                                        	
                                                                                                                          63

                                                                                                                        
	
                                                                                                                          6.06

                                                                                                                        	
                                                                                                                          Litigation.

                                                                                                                        	
                                                                                                                          64

                                                                                                                        
	
                                                                                                                          6.07

                                                                                                                        	
                                                                                                                          No
      Default.

                                                                                                                        	
                                                                                                                          64

                                                                                                                        
	
                                                                                                                          6.08

                                                                                                                        	
                                                                                                                          Ownership
      of Property; Liens.

                                                                                                                        	
                                                                                                                          64

                                                                                                                        
	
                                                                                                                          6.09

                                                                                                                        	
                                                                                                                          Environmental
      Compliance.

                                                                                                                        	
                                                                                                                          64

                                                                                                                        
	
                                                                                                                          6.10

                                                                                                                        	
                                                                                                                          Insurance.

                                                                                                                        	
                                                                                                                          65

                                                                                                                        
	
                                                                                                                          6.11

                                                                                                                        	
                                                                                                                          Taxes.

                                                                                                                        	
                                                                                                                          65

                                                                                                                        
	
                                                                                                                          6.12

                                                                                                                        	
                                                                                                                          ERISA
      Compliance.

                                                                                                                        	
                                                                                                                          65

                                                                                                                        
	
                                                                                                                          6.13

                                                                                                                        	
                                                                                                                          Subsidiaries.

                                                                                                                        	
                                                                                                                          66

                                                                                                                        
	
                                                                                                                          6.14

                                                                                                                        	
                                                                                                                          Margin
      Regulations; Investment Company Act.

                                                                                                                        	
                                                                                                                          66

                                                                                                                        
	
                                                                                                                          6.15

                                                                                                                        	
                                                                                                                          Disclosure.

                                                                                                                        	
                                                                                                                          67

                                                                                                                        
	
                                                                                                                          6.16

                                                                                                                        	
                                                                                                                          Compliance
      with Laws.

                                                                                                                        	
                                                                                                                          67

                                                                                                                        
	
                                                                                                                          6.17

                                                                                                                        	
                                                                                                                          Intellectual
      Property; Licenses, Etc.

                                                                                                                        	
                                                                                                                          67

                                                                                                                        
	
                                                                                                                          6.18

                                                                                                                        	
                                                                                                                          Solvency.

                                                                                                                        	
                                                                                                                          67

                                                                                                                        
	
                                                                                                                          6.19

                                                                                                                        	
                                                                                                                          Labor
      Matters.

                                                                                                                        	
                                                                                                                          67

                                                                                                                        
	
                                                                                                                          6.20

                                                                                                                        	
                                                                                                                          Bonding
      Capacity.

                                                                                                                        	
                                                                                                                          67

                                                                                                                        
	
                                                                                                                          ARTICLE
      VII    AFFIRMATIVE COVENANTS

                                                                                                                        	
                                                                                                                          68

                                                                                                                        
	
                                                                                                                          7.01

                                                                                                                        	
                                                                                                                          Financial
      Statements.

                                                                                                                        	
                                                                                                                          68

                                                                                                                        
	
                                                                                                                          7.02

                                                                                                                        	
                                                                                                                          Certificates;
      Other Information.

                                                                                                                        	
                                                                                                                          68

                                                                                                                        
	
                                                                                                                          7.03

                                                                                                                        	
                                                                                                                          Notices.

                                                                                                                        	
                                                                                                                          70

                                                                                                                        
	
                                                                                                                          7.04

                                                                                                                        	
                                                                                                                          Payment
      of Obligations.

                                                                                                                        	
                                                                                                                          71

                                                                                                                        
	
                                                                                                                          7.05

                                                                                                                        	
                                                                                                                          Preservation
      of Existence, Etc.

                                                                                                                        	
                                                                                                                          71

                                                                                                                        
	
                                                                                                                          7.06

                                                                                                                        	
                                                                                                                          Maintenance
      of Properties.

                                                                                                                        	
                                                                                                                          72

                                                                                                                        
	
                                                                                                                          7.07

                                                                                                                        	
                                                                                                                          Maintenance
      of Insurance.

                                                                                                                        	
                                                                                                                          72

                                                                                                                        
	
                                                                                                                          7.08

                                                                                                                        	
                                                                                                                          Compliance
      with Laws.

                                                                                                                        	
                                                                                                                          72

                                                                                                                        
	
                                                                                                                          7.09

                                                                                                                        	
                                                                                                                          Books
      and Records.

                                                                                                                        	
                                                                                                                          72

                                                                                                                        
	
                                                                                                                          7.10

                                                                                                                        	
                                                                                                                          Inspection
      Rights.

                                                                                                                        	
                                                                                                                          72

                                                                                                                        
	
                                                                                                                          7.11

                                                                                                                        	
                                                                                                                          Use
      of Proceeds.

                                                                                                                        	
                                                                                                                          73

                                                                                                                        
	
                                                                                                                          7.12

                                                                                                                        	
                                                                                                                          Additional
      Subsidiaries.

                                                                                                                        	
                                                                                                                          73

                                                                                                                        
	
                                                                                                                          7.13

                                                                                                                        	
                                                                                                                          ERISA
      Compliance.

                                                                                                                        	
                                                                                                                          73

                                                                                                                        
	
                                                                                                                          7.14

                                                                                                                        	
                                                                                                                          Interest
      Rate Protection Agreements.

                                                                                                                        	
                                                                                                                          73

                                                                                                                        
	
                                                                                                                          7.15

                                                                                                                        	
                                                                                                                          Pari
      Passu Ranking.

                                                                                                                        	
                                                                                                                          74

                                                                                                                        
	
                                                                                                                          ARTICLE
      VIII    NEGATIVE COVENANTS

                                                                                                                        	
                                                                                                                          74

                                                                                                                        
	
                                                                                                                          8.01

                                                                                                                        	
                                                                                                                          Liens.

                                                                                                                        	
                                                                                                                          74

                                                                                                                        
	
                                                                                                                          8.02

                                                                                                                        	
                                                                                                                          Investments.

                                                                                                                        	
                                                                                                                          76

                                                                                                                        
	
                                                                                                                          8.03

                                                                                                                        	
                                                                                                                          Indebtedness.

                                                                                                                        	
                                                                                                                          76

                                                                                                                        
	
                                                                                                                          8.04

                                                                                                                        	
                                                                                                                          Fundamental
      Changes.

                                                                                                                        	
                                                                                                                          77

                                                                                                                        
	
                                                                                                                          8.05

                                                                                                                        	
                                                                                                                          Dispositions.

                                                                                                                        	
                                                                                                                          77

                                                                                                                        
	
                                                                                                                          8.06

                                                                                                                        	
                                                                                                                          Restricted
      Payments.

                                                                                                                        	
                                                                                                                          77

                                                                                                                        
	
                                                                                                                          8.07

                                                                                                                        	
                                                                                                                          Change
      in Nature of Business.

                                                                                                                        	
                                                                                                                          78

                                                                                                                        
	
                                                                                                                          8.08

                                                                                                                        	
                                                                                                                          Transactions
      with Affiliates and Insiders.

                                                                                                                        	
                                                                                                                          78

                                                                                                                        
	
                                                                                                                          8.09

                                                                                                                        	
                                                                                                                          Burdensome
      Agreements.

                                                                                                                        	
                                                                                                                          78

                                                                                                                        
	
                                                                                                                          8.10

                                                                                                                        	
                                                                                                                          Use
      of Proceeds.

                                                                                                                        	
                                                                                                                          79

                                                                                                                        
	
                                                                                                                          8.11

                                                                                                                        	
                                                                                                                          Financial
      Covenants.

                                                                                                                        	
                                                                                                                          79

                                                                                                                        
	
                                                                                                                          8.12

                                                                                                                        	
                                                                                                                          Capital
      Expenditures.

                                                                                                                        	
                                                                                                                          79

                                                                                                                        
	
                                                                                                                          8.13

                                                                                                                        	
                                                                                                                          Organization
      Documents; Fiscal Year; Legal Name, State of Formation and Form of
      Entity.

                                                                                                                        	
                                                                                                                          79

                                                                                                                        
	
                                                                                                                          8.14

                                                                                                                        	
                                                                                                                          Preferred
      Equity.

                                                                                                                        	
                                                                                                                          79

                                                                                                                        
	
                                                                                                                          8.15

                                                                                                                        	
                                                                                                                          Sale
      Leasebacks.

                                                                                                                        	
                                                                                                                          80

                                                                                                                        
	
                                                                                                                          ARTICLE
      IX    EVENTS OF DEFAULT AND REMEDIES

                                                                                                                        	
                                                                                                                          80

                                                                                                                        
	
                                                                                                                          9.01

                                                                                                                        	
                                                                                                                          Events
      of Default.

                                                                                                                        	
                                                                                                                          80

                                                                                                                        
	
                                                                                                                          9.02

                                                                                                                        	
                                                                                                                          Remedies
      Upon Event of Default.

                                                                                                                        	
                                                                                                                          82

                                                                                                                        

                                                                                                                

                                                                                                              

                                                                                                            

                                                                                                          

                                                                                                        

                                                                                                      

                                                                                                    

                                                                                                  

                                                                                                

                                                                                              

                                                                                            

                                                                                          

                                                                                        

                                                                                      

                                                                                    

                                                                                  

                                                                                

                                                                              

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                  

                                                                

                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

      
        
           

        

        
          ii 

          
            

          

        

        
           

        

      

      
        
          
            	
                    9.03

                  	
                    Application
      of Funds.

                  	
                     
      82

                  
	
                    ARTICLE
      X    ADMINISTRATIVE AGENT

                  	
                     
      83

                  
	
                    10.01

                  	
                    Appointment
      and Authority.

                  	
                     
      83

                  
	
                    10.02

                  	
                    Rights
      as a Lender.

                  	
                     
      84

                  
	
                    10.03

                  	
                    Exculpatory
      Provisions.

                  	
                     
      84

                  
	
                    10.04

                  	
                    Reliance
      by Administrative Agent.

                  	
                     
      85

                  
	
                    10.05

                  	
                    Delegation
      of Duties.

                  	
                     
      85

                  
	
                    10.06

                  	
                    Resignation
      of Administrative Agent.

                  	
                     
      85

                  
	
                    10.07

                  	
                    Non-Reliance
      on Administrative Agent and Other Lenders.

                  	
                     
      86

                  
	
                    10.08

                  	
                    No
      Other Duties; Etc.

                  	
                     
      86

                  
	
                    10.09

                  	
                    Administrative
      Agent May File Proofs of Claim.

                  	
                     
      86

                  
	
                    10.10

                  	
                    Guaranty
      Matters.

                  	
                     
      87

                  
	
                    ARTICLE
      XI    MISCELLANEOUS

                  	
                     
      87

                  
	
                    11.01

                  	
                    Amendments,
      Etc.

                  	
                     
      87

                  
	
                    11.02

                  	
                    Notices
      and Other Communications; Facsimile Copies.

                  	
                     
      89

                  
	
                    11.03

                  	
                    No
      Waiver; Cumulative Remedies; Enforcement.

                  	
                     
      91

                  
	
                    11.04

                  	
                    Expenses;
      Indemnity; and Damage Waiver.

                  	
                     
      91

                  
	
                    11.05

                  	
                    Payments
      Set Aside.

                  	
                     
      93

                  
	
                    11.06

                  	
                    Successors
      and Assigns.

                  	
                     
      93

                  
	
                    11.07

                  	
                    Treatment
      of Certain Information; Confidentiality.

                  	
                     
      97

                  
	
                    11.08

                  	
                    Set-off.

                  	
                     
      97

                  
	
                    11.09

                  	
                    Interest
      Rate Limitation.

                  	
                     
      98

                  
	
                    11.10

                  	
                    Counterparts;
      Integration; Effectiveness.

                  	
                     
      98

                  
	
                    11.11

                  	
                    Survival
      of Representations and Warranties.

                  	
                     
      98

                  
	
                    11.12

                  	
                    Severability.

                  	
                     
      98

                  
	
                    11.13

                  	
                    Replacement
      of Lenders.

                  	
                     
      99

                  
	
                    11.14

                  	
                    Governing
      Law; Jurisdiction; Etc.

                  	
                    100

                  
	
                    11.15

                  	
                    Waiver
      of Right to Trial by Jury.

                  	
                    100

                  
	
                    11.16

                  	
                    Electronic
      Execution of Assignments and Certain Other Documents.

                  	
                    101

                  
	
                    11.17

                  	
                    USA
      Patriot Act.

                  	
                    101

                  
	
                    11.18

                  	
                    No
      Advisory or Fiduciary Relationship.

                  	
                    101

                  
	
                    11.19

                  	
                    Statutory
      Notice – Oral Commitments.

                  	
                    102

                  
	
                    11.20

                  	
                    Time
      of the Essence.

                  	
                    102

                  

          

        

      

      
        
           

        

        
          iii 

          
            

          

        

        
           

        

      

      
        
          	
                      SCHEDULES

                
	 
      	 
      	 
      
	 
      	
                  1.01(a)

                	
                  Existing
      Letters of Credit

                
	 
      	
                  1.01(b)

                	
                  Mandatory
      Cost Formulae

                
	 
      	
                  2.01

                	
                  Commitments
      and Applicable Percentages

                
	 
      	
                  6.13

                	
                  Subsidiaries

                
	 
      	
                  6.19

                	
                  Labor
      Matters

                
	 
      	
                  8.01

                	
                  Liens
      Existing on the Closing Date

                
	 
      	
                  8.02

                	
                  Investments
      Existing on the Closing Date

                
	 
      	
                  8.03

                	
                  Indebtedness
      Existing on the Closing Date

                
	 
      	
                  8.08

                	
                  Transactions
      with Affiliates

                
	 
      	
                  11.02

                	
                  Certain
      Addresses for Notices

                
	 
      	 
      	 
      
	
                      EXHIBITS

                
	 
      	 
      	 
      
	 
      	
                  A

                	
                  Form
      of Loan Notice

                
	 
      	
                  B

                	
                  Form
      of Swing Line Loan Notice

                
	 
      	
                  C

                	
                  Form
      of Revolving Note

                
	 
      	
                  D

                	
                  Form
      of Swing Line Note

                
	 
      	
                  E

                	
                  Form
      of Term Note

                
	 
      	
                  F

                	
                  Form
      of Compliance Certificate

                
	 
      	
                  G

                	
                  Form
      of Joinder Agreement

                
	 
      	
                  H

                	
                  Form
      of Assignment and Assumption

                
	 
      	
                  I

                	
                  Form
      of Incremental Term Loan Funding
Agreement

                

        

      

      
        
           

        

        
          iv 

          
            

          

        

        
           

        

      

    

    CREDIT
AGREEMENT

     

    

    This
CREDIT AGREEMENT is entered into as of March 31, 2009 among INSITUFORM
TECHNOLOGIES, INC., a Delaware corporation (the “Borrower”), the
Guarantors (defined herein), the Lenders (defined herein) and BANK OF AMERICA,
N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.

    

    The
Borrower has requested that the Lenders provide $115,000,000 in credit facilities for
the purposes set forth herein, and the Lenders are willing to do so on the terms
and conditions set forth herein.

    

    In
consideration of the mutual covenants and agreements herein contained, the
parties hereto covenant and agree as follows:

    

    ARTICLE
I

    

    DEFINITIONS
AND ACCOUNTING TERMS

    

    1.01         Defined
Terms.

    

    As used
in this Agreement, the following terms shall have the meanings set forth
below:

    

    “Acquisition”, by any
Person, means the acquisition by such Person from another Person, in a single
transaction or in a series of related transactions, of all or any substantial
portion of the property of another Person or at least a majority of the Voting
Stock of another Person, in each case whether or not involving a merger or
consolidation with such other Person and whether for cash, property, services,
assumption of Indebtedness, securities or otherwise.

    

    “Administrative Agent”
means Bank of America in its capacity as administrative agent under any of the
Loan Documents, or any successor administrative agent.

    

    “Administrative Agent’s
Office” means the Administrative Agent’s address and, as appropriate,
account as set forth on Schedule 11.02 or
such other address or account as the Administrative Agent may from time to time
notify the Borrower and the Lenders.

    

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

    

    “Affholder” means
Affholder, Inc., a Missouri corporation.

    

    “Affiliate” means,
with respect to any Person, another Person that directly, or indirectly through
one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified.

    

    “Aggregate Revolving
Commitments” means the Revolving Commitments of all the
Lenders.  The aggregate principal amount of the Aggregate Revolving
Commitments in effect on the Closing Date is SIXTY-FIVE MILLION DOLLARS
($65,000,000).

    

    “Agreement” means this
Credit Agreement.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    “AIG Settlement” means
all amounts payable to Borrower and its Subsidiaries by American Home Assurance
Company (“AIG”) in satisfaction of claims asserted by Borrower with respect to
work performed by Borrower in Boston, MA, which claims are the subject of the
lawsuit styled Insituform Technologies,
Inc. v. American Home Assurance Company, Civil Action No. 04-10487GAO,
filed in the United States District Court in Boston, including any amounts
payable for damages, pre and post-judgment interest and costs.

    

    “Alternative Currency”
means each of Euro, Canadian Dollars, Sterling and, solely with respect to
Letters of Credit, Rupees.

    

    “Alternative Currency
Equivalent” means, at any time, with respect to any amount denominated in
Dollars, the equivalent amount thereof in the applicable Alternative Currency as
determined by the Administrative Agent at such time on the basis of the Spot
Rate (determined in respect of the most recent Revaluation Date) for the
purchase of such Alternative Currency with Dollars.

    

    “Alternative Currency
Sublimit” means an amount equal to the lesser of the Aggregate Revolving
Commitments and $15,000,000.  The Alternative Currency Sublimit is
part of, and not in addition to, the Aggregate Revolving
Commitments.

    

    “Applicable
Percentage” means with respect to any Lender at any time, (a) with
respect to such Lender’s Revolving Commitment at any time, the percentage of the
Aggregate Revolving Commitments represented by such Lender’s Revolving
Commitment at such time; provided that if the
commitment of each Lender to make Revolving Loans and the obligation of the L/C
Issuer to make L/C Credit Extensions have been terminated pursuant to Section 9.02 or if
the Aggregate Revolving Commitments have expired, then the Applicable Percentage
of each Lender shall be determined based on the Applicable Percentage of such
Lender most recently in effect, giving effect to any subsequent assignments and
(b) with respect to such Lender’s portion of the outstanding Term Loan at any
time, the percentage of the outstanding principal amount of the Term Loan held
by such Lender at such time.  The initial Applicable Percentage of
each Lender is set forth opposite the name of such Lender on Schedule 2.01 or in
the Assignment and Assumption pursuant to which such Lender becomes a party
hereto, as applicable.

    

    “Applicable Rate”
means with respect to Revolving Loans, the Term Loan, Swing Line Loans, Letters
of Credit and the Commitment Fee, the following percentages per annum, based
upon the Consolidated Leverage Ratio as set forth in the most recent Compliance
Certificate received by the Administrative Agent pursuant to Section
7.02(a):

    

    
      
        
          
            
              
                
                  
                    	
                            Pricing
      Tier

                          	
                            Consolidated

                            Leverage
      Ratio

                          	
                            Commitment
      

                            Fee

                          	
                            Letter
      of Credit 

                            Fee

                          	
                            Eurocurrency
      

                            Loans

                          	
                            Base
      Rate 

                            Loans

                          
	
                            1

                          	
                            ≤
      1.0 to 1.0

                          	
                            0.375%

                          	
                            2.75%

                          	
                            2.75%

                          	
                            1.75%

                          
	
                            2

                          	
                            >
      1.0 to 1.0 but 

                            ≤
      1.5 to 1.0

                          	
                            0.500%

                          	
                            3.00%

                          	
                            3.00%

                          	
                            2.00%

                          
	
                            3

                          	
                            >
      1.5 to 1.0 but 

                            ≤
      2.0 to 1.0

                          	
                            0.500%

                          	
                            3.50%

                          	
                            3.50%

                          	
                            2.50%

                          
	
                            4

                          	
                            >
      2.0 to 1.0

                          	
                            0.625%

                          	
                            4.00%

                          	
                            4.00%

                          	
                            3.00%

                          

                  

                

              

            

          

        

      

    

    

    Any
increase or decrease in the Applicable Rate resulting from a change in the
Consolidated Leverage Ratio shall become effective as of the first Business Day
immediately following the date a Compliance Certificate is required to be
delivered pursuant to Section 7.02(a);
provided, however, that if a
Compliance Certificate is not delivered when due in accordance with such
Section, then, upon the request

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    of the
Required Lenders, Pricing Tier 4 shall apply as of the first Business Day after
the date on which such Compliance Certificate was required to have been
delivered and shall continue to apply until the first Business Day immediately
following the date a Compliance Certificate is delivered in accordance with
Section
7.02(a), whereupon the Applicable Rate shall be adjusted based upon the
calculation of the Consolidated Leverage Ratio contained in such Compliance
Certificate.  The Applicable Rate in effect from the Closing Date
through the first Business Day immediately following the date a Compliance
Certificate is required to be delivered pursuant to Section 7.02(a) for
the fiscal quarter ending June 30, 2009 shall be determined based upon Pricing
Tier 3.  Notwithstanding anything to the contrary contained in this
definition, the determination of the Applicable Rate for any period shall be
subject to the provisions of Section
2.10(b).

    

    “Applicable Time”
means, with respect to any borrowings and payments in any Alternative Currency,
the local time in the place of settlement for such Alternative Currency as may
be determined by the Administrative Agent to be necessary for timely settlement
on the relevant date in accordance with normal banking procedures in the place
of payment.

    

    “Approved Fund” means
any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a
Lender or (c) an entity or an Affiliate of an entity that administers or manages
a Lender.

    

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

    

    “Assignment and
Assumption” means an assignment and assumption entered into by a Lender
and an Eligible Assignee (with the consent of any party whose consent is
required by Section
11.06(b)), and accepted by the Administrative Agent, in substantially the
form of Exhibit
H or any other form approved by the Administrative Agent.

    

    “Attributable
Indebtedness” means, on any date, (a) in respect of any Capital Lease of
any Person, the capitalized amount thereof that would appear on a balance sheet
of such Person prepared as of such date in accordance with GAAP, (b) in respect
of any Synthetic Lease, the capitalized amount of the remaining lease payments
under the relevant lease that would appear on a balance sheet of such Person
prepared as of such date in accordance with GAAP if such lease were accounted
for as a Capital Lease and (c) in respect of any Securitization Transaction of
any Person, the outstanding principal amount of such financing, after taking
into account reserve accounts and making appropriate adjustments, determined by
the Administrative Agent in its reasonable judgment.

    

    “Audited Financial
Statements” means the audited consolidated balance sheet of the Borrower
and its Subsidiaries for the fiscal year ended December 31, 2008, and the
related consolidated statements of income or operations, shareholders’ equity
and cash flows for such fiscal year of the Borrower and its Subsidiaries,
including the notes thereto, audited by independent public accountants of
recognized national standing and prepared in conformity with GAAP.

    

    “Availability Period”
means, with respect to the Revolving Commitments, the period from and including
the Closing Date to the earliest of (a) the Maturity Date, (b) the date of
termination of the Aggregate Revolving Commitments pursuant to Section 2.06, and (c)
the date of termination of the commitment of each Lender to make Loans and of
the obligation of the L/C Issuer to make L/C Credit Extensions pursuant to Section
9.02.

    

    “Bank of America”
means Bank of America, N.A. and its successors.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

          
 “BAS” means Banc of
America Securities LLC, in its capacity as sole lead arranger and book
manager.

    

    “Base Rate” means, for
any day, a rate per annum equal to the highest of (a) the Prime Rate for such
day, (b) the sum of 0.50% plus the Federal
Funds Rate for such day and (c) the Eurocurrency Base Rate plus
1.0%. 

    

    “Base Rate Loan” means
a Loan that bears interest based on the Base Rate.  All Base Rate
Loans shall be denominated in Dollars.

    

    “Bayou” means The
Bayou Companies, LLC, a Louisiana limited liability company.

    

    “Bayou Acquisition”
means the Acquisition of Bayou by the Borrower pursuant to that certain asset
purchase agreement dated as of January 31, 2009 among the Borrower, TBC
Acquisition Corp., a Delaware corporation and Bayou, together with all exhibits
and schedules thereto.

    

    “Borrower” has the
meaning specified in the introductory paragraph hereto.

    

    “Borrower Materials”
has the meaning specified in Section
7.02.

    

    “Borrowing” means a
borrowing consisting of simultaneous Loans of the same Type and, in the case of
Eurocurrency Rate Loans, having the same Interest Period made by each of the
Lenders pursuant to Section
2.01.

    

    “Borza Sale” means a
sale pursuant to Section 3 of that certain Employment Agreement dated as of June
18, 2004, or any extensions, renewals or replacements thereof, between Borza
Inspections Ltd., an Alberta corporation (“Borza Inspections”) and a subsidiary
of Corrpro Canada, Inc., and Barry Borza (“Borza”), pursuant to which Borza has
an option to purchase Borza Inspections.

    

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

    

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

    

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

    

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

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      

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

       

      “Businesses” means, at
any time, a collective reference to the businesses operated by the Borrower and
its Subsidiaries at such time.

    

    

    “Canadian Dollars”
means the lawful currency of Canada.

    

    “Capital Lease” means,
as applied to any Person, any lease of any property by that Person as lessee
which, in accordance with GAAP, is required to be accounted for as a capital
lease on the balance sheet of that Person.

    

    “Cash Collateralize”
has the meaning specified in Section
2.03(g).

    

    “Cash Equivalents”
means, as at any date, (a) securities issued or directly and fully guaranteed or
insured by the United States or any agency or instrumentality thereof (provided
that the full faith and credit of the United States is pledged in support
thereof) having maturities of not more than twelve months from the date of
acquisition, (b) Dollar denominated time deposits and certificates of deposit of
(i) any Lender, (ii) any domestic commercial bank of recognized standing having
capital and surplus in excess of $500,000,000 or (iii) any bank whose short-term
commercial paper rating from S&P is at least A-1 or the equivalent thereof
or from Moody’s is at least P-1 or the equivalent thereof (any such bank being
an “Approved Bank”), in each case with maturities of not more than 270 days from
the date of acquisition, (c) commercial paper and variable or fixed rate notes
issued by any Approved Bank (or by the parent company thereof) or any variable
rate notes issued by, or guaranteed by, any domestic corporation rated A-1 (or
the equivalent thereof) or better by S&P or P-1 (or the equivalent thereof)
or better by Moody’s and maturing within six months of the date of acquisition,
(d) repurchase agreements entered into by any Person with any Lender or with a
bank or trust company or recognized securities dealer having capital and surplus
in excess of $500,000,000 for direct obligations issued by or fully guaranteed
by the United States in which such Person shall have a perfected first priority
security interest (subject to no other Liens) and having, on the date of
purchase thereof, a fair market value of at least 100% of the amount of the
repurchase obligations and (e) Investments, classified in accordance with GAAP
as current assets, in money market investment programs registered under the
Investment Company Act of 1940 which are administered by any Lender or by
reputable financial institutions having capital of at least $500,000,000 and the
portfolios of which are limited to Investments of the character described in the
foregoing subdivisions (a) through (d).

    

    “Change in Law” means
the occurrence, after the date of this Agreement, of any of the following: (a)
the adoption or taking effect of any law, rule, regulation or treaty, (b) any
change in any law, rule, regulation or treaty or in the administration,
interpretation or application thereof by any Governmental Authority or (c) the
making or issuance of any request, guideline or directive (whether or not having
the force of law) by any Governmental Authority.

    

    “Change of Control”
means the occurrence of any of the following events:

    

     (a)           any
“person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, but excluding any employee benefit plan of such
person or its subsidiaries, and any person or entity acting in its capacity as
trustee, agent or other fiduciary or administrator of any such plan) becomes the
“beneficial owner” (as defined in Rules 13d-3 and 

    
 

    
      
        
           

        

        
          5

          
            

          

        

        
           

        

      

    

    

    13d-5
under the Securities Exchange Act of 1934, except that a person or group shall
be deemed to have “beneficial ownership” of all securities that such person or
group has the right to acquire (such right, an “option right”),
whether such right is exercisable immediately or only after the passage of
time), directly or indirectly, of 30% of the Equity Interests of the Borrower
entitled to vote for members of the board of directors or equivalent governing
body of the Borrower on a fully diluted basis (and taking into account all such
securities that such person or group has the right to acquire pursuant to any
option right); or

    

    (b)           during
any period of 12 consecutive months, a majority of the members of the board of
directors or other equivalent governing body of the Borrower cease to be
composed of individuals (i) who were members of that board or equivalent
governing body on the first day of such period, (ii) whose election or
nomination to that board or equivalent governing body was approved by
individuals referred to in clause (i) above constituting at the time of such
election or nomination at least a majority of that board or equivalent governing
body or (iii) whose election or nomination to that board or other equivalent
governing body was approved by individuals referred to in clauses (i) and (ii)
above constituting at the time of such election or nomination at least a
majority of that board or equivalent governing body (excluding, in the case of
both clause (ii) and clause (iii), any individual whose initial nomination for,
or assumption of office as, a member of that board or equivalent governing body
occurs as a result of an actual or threatened solicitation of proxies or
consents for the election or removal of one or more directors by any person or
group other than a solicitation for the election of one or more directors by or
on behalf of the board of directors).

    

    “Chicago Letter of
Credit” means that certain Letter of Credit issued by Bank of America in
favor of the City of Chicago, as the beneficiary, in an aggregate principal
amount not to exceed $25,000.

    

    “Closing Date” means
the date hereof.

    

    “Commitment” means, as
to each Lender, the Revolving Commitment of such Lender and/or the Term Loan
Commitment of such Lender.

    

    “Commitment Fee” has
the meaning specified in Section
2.09(a).

    

    “Compliance
Certificate” means a certificate substantially in the form of Exhibit
F.

    

    “Consolidated Adjusted
EBITDAR” means, for any period, for the Borrower and its Subsidiaries on
a consolidated basis, an amount equal to the sum of (a) Consolidated EBITDA
for such period plus (b) rent and
lease expense for such period minus
(c) Consolidated Capital Expenditures for such period minus
(d) Consolidated Taxes for such period, minus (e) Earn Out
Obligation payments made in connection with the Bayou Acquisition during such
period, all as determined in accordance with GAAP.

    

    “Consolidated Capital
Expenditures” means, for any period, for the Borrower and its
Subsidiaries on a consolidated basis, all capital expenditures, as determined in
accordance with GAAP; provided, however, that
Consolidated Capital Expenditures shall not include (a) expenditures made with
proceeds of any disposition of capital assets or (b) Permitted
Acquisitions.

    

    “Consolidated EBITDA”
means, for any period, for the Borrower and its Subsidiaries on a consolidated
basis, an amount equal to Consolidated Net Income for such period plus the following to
the extent deducted in calculating such Consolidated Net Income: (a)
Consolidated Interest Charges for such period, (b) the provision for federal,
state, local and foreign income taxes payable by the Borrower and its
Subsidiaries for such period, (c) depreciation and amortization expense for such
period and (d) for the 

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    four
fiscal quarter periods ending March 31, 2009, June 30, 2009, September 30, 2009
and December 31, 2009 only, transaction costs (not including any costs that will
be capitalized) of (i) the Borrower in respect of the Corrpro Acquisition
and the Bayou Acquisition in an aggregate amount not to exceed $6,500,000, (ii)
Corrpro in an aggregate amount not to exceed $9,300,000 and (iii) Bayou in an
aggregate amount not to exceed $3,000,000, all as determined in
accordance with GAAP.

    

    “Consolidated Fixed Charge
Coverage Ratio” means, as of any date of determination, the ratio of (a)
Consolidated Adjusted EBITDAR for the period of the four fiscal quarters most
recently ended for which the Borrower has delivered financial statements
pursuant to Section
7.01(a) or (b) to (b)
Consolidated Fixed Charges for the period of the four fiscal quarters most
recently ended for which the Borrower has delivered financial statements
pursuant to Section
7.01(a) or (b).

    

    “Consolidated Fixed
Charges” means, for any period, for the Borrower and its Subsidiaries on
a consolidated basis, an amount equal to the sum of (i) Consolidated Interest
Charges for such period plus (ii)
Consolidated Scheduled Funded Debt Payments for such period plus (iii) the amount
of cash dividends and other distributions made by the Borrower during such
period plus
(iv) rent and lease expense for such period, all as determined in
accordance with GAAP.

    

    “Consolidated Funded
Indebtedness” means Funded Indebtedness of the Borrower and its
Subsidiaries on a consolidated basis determined in accordance with
GAAP.

    

    “Consolidated Interest
Charges” means, for any period, for the Borrower and its Subsidiaries on
a consolidated basis, an amount equal to the sum of (i) all interest, premium
payments, debt discount, fees, charges and related expenses in connection with
borrowed money (including capitalized interest) or in connection with the
deferred purchase price of assets, in each case to the extent treated as
interest in accordance with GAAP, plus (ii) the portion
of rent expense with respect to such period under Capital Leases that is treated
as interest in accordance with GAAP plus (iii) the
implied interest component of Synthetic Leases with respect to such
period.

    

    “Consolidated Leverage
Ratio” means, as of any date of determination, the ratio of (a)
Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for
the period of the four fiscal quarters most recently ended for which the
Borrower has delivered financial statements pursuant to Section 7.01(a) or
(b).

    

    “Consolidated Net
Income” means, for any period, for the Borrower and its Subsidiaries on a
consolidated basis, the net income of the Borrower and its Subsidiaries
(excluding extraordinary gains) for that period, as determined in accordance
with GAAP.

    

    “Consolidated Net
Worth” means, as of any date of determination, consolidated shareholders'
equity of the Borrower and its Subsidiaries as of that date, as determined in
accordance with GAAP.

    

    “Consolidated Scheduled
Funded Debt Payments” means for any period for the Borrower and its
Subsidiaries on a consolidated basis, the sum of all scheduled payments of
principal on Consolidated Funded Indebtedness, as determined in accordance with
GAAP.  For purposes of this definition, “scheduled payments of
principal” (a) shall be determined without giving effect to any reduction of
such scheduled payments resulting from the application of any voluntary or
mandatory prepayments made during the applicable period, (b) shall be deemed to
include the Attributable Indebtedness in respect of Capital Leases,
Securitization Transactions and Synthetic Leases and (c) shall not include any
voluntary prepayments or mandatory prepayments required pursuant to Section
2.05.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

    “Consolidated Taxes” means, for any
period, for the Borrower and its Subsidiaries on a consolidated basis, the
aggregate of all taxes paid during such period, as determined in accordance with
GAAP.

    

    “Contractual
Obligation” means, as to any Person, any provision of any security issued
by such Person or of any agreement, instrument or other undertaking to which
such Person is a party or by which it or any of its property is
bound.

    

    “Control” means the
possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of a Person, whether through the ability
to exercise voting power, by contract or otherwise.  “Controlling” and
“Controlled”
have meanings correlative thereto.  Without limiting the generality of
the foregoing, a Person shall be deemed to be Controlled by another Person if
such other Person possesses, directly or indirectly, power to vote 10% or more
of the securities having ordinary voting power for the election of directors,
managing general partners or the equivalent.

    

    “Corrpro” means
Corrpro Companies, Inc., an Ohio corporation.

    

    “Corrpro Acquisition”
means the Acquisition of Corrpro by the Borrower pursuant to the Corrpro
Acquisition Documents.

    

    “Corrpro Acquisition
Agreement” means that certain agreement and plan of merger dated as of
February 1, 2009 among the Borrower, First Down Acquisition Corporation, an Ohio
corporation, and Corrpro, together with all exhibits and schedules
thereto.

    

    “Corrpro Acquisition
Documents” means the Corrpro Acquisition Agreement and all other
agreements, instruments and documents executed and delivered in connection with
the Corrpro Acquisition.

    

    “Credit Extension”
means each of the following: (a) a Borrowing and (b) an L/C Credit
Extension.

    

    “CCSI Management”
means CCSI Management LLC, a Texas limited liability company.

    

    “Debt Issuance” means
the issuance by any Loan Party or any Subsidiary of any Indebtedness other than
Indebtedness permitted under Section
8.03.

    

    “Debtor Relief Laws”
means the Bankruptcy Code of the United States, and all other liquidation,
conservatorship, bankruptcy, assignment for the benefit of creditors,
moratorium, rearrangement, receivership, insolvency, reorganization, or similar
debtor relief Laws of the United States or other applicable jurisdictions from
time to time in effect and affecting the rights of creditors
generally.

    

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

    

    “Default Rate” means
(a) when used with respect to Obligations other than Letter of Credit Fees, an
interest rate equal to (i) the Base Rate plus (ii) the
Applicable Rate, if any, applicable to Base Rate Loans plus (iii) 2% per
annum; provided, however, that with
respect to a Eurocurrency Rate Loan, the Default Rate shall be an interest rate
equal to the interest rate (including any Applicable Rate and any Mandatory
Cost) otherwise applicable to such Loan plus 2% per annum, in
each case to the fullest extent permitted by applicable Laws and (b) when used
with respect to Letter of Credit Fees, a rate equal to the Applicable Rate plus 2% per
annum.

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    
      “Defaulting Lender”
means any Lender that (a) has failed to fund any portion of the Loans,
participations in L/C Obligations or participations in Swing Line Loans required
to be funded by it hereunder within one Business Day of the date required to be
funded by it hereunder, (b) has otherwise failed to
pay over to the Administrative Agent or any other Lender any other amount
required to be paid by it hereunder within one Business Day of the date when
due, unless the subject of a good faith dispute, or (c) has been deemed
insolvent or become the subject of a bankruptcy or insolvency
proceeding.

    

    

    “Disposition” or
“Dispose” means
the sale, transfer, license, lease or other disposition (including any Sale and
Leaseback Transaction) of any property by any Loan Party or any Subsidiary
(including the Equity Interests of any Subsidiary), including any sale,
assignment, transfer or other disposal, with or without recourse, of any notes
or accounts receivable or any rights and claims associated therewith, but
excluding (a) the sale, lease, license, transfer or other disposition of
inventory or equipment in the ordinary course of business; (b)  the
sale, lease, license, transfer or other disposition in the ordinary course of
business of surplus, obsolete or worn out property no longer used or useful in
the conduct of business of any Loan Party and its Subsidiaries; (c) any sale,
lease, license, transfer or other disposition of property to any Loan Party or
any Subsidiary; provided, that if the
transferor of such property is a Loan Party (i) the transferee thereof must be a
Loan Party or (ii) to the extent such transaction constitutes an Investment,
such transaction is permitted under Section 8.02, and (d)
any Involuntary Disposition.

    

    “Disposition Prepayment
Amount” has the meaning set forth in Section
2.05(b)(viii).

    

    “Dollar” and “$” mean lawful money
of the United States.

    

    “Dollar Equivalent”
means, at any time, (a) with respect to any amount denominated in Dollars,
such amount, and (b) with respect to any amount denominated in any
Alternative Currency, the equivalent amount thereof in Dollars as determined by
the Administrative Agent at such time on the basis of the Spot Rate (determined
in respect of the most recent Revaluation Date) for the purchase of Dollars with
such Alternative Currency.

    

    “Domestic Subsidiary”
means any Subsidiary that is organized under the laws of any state of the United
States or the District of Columbia.

    

    “Earn Out Obligations”
means, with respect to an Acquisition, all obligations of the Borrower or any
Subsidiary to make earn out or other contingency payments (including purchase
price adjustments, non-competition and consulting agreements, or other indemnity
obligations) pursuant to the documentation relating to such
Acquisition.  The amount of any Earn Out Obligations at the time of
determination shall be the aggregate amount, if any, of such Earn Out
Obligations that are required at such time under GAAP to be recognized as
liabilities on the consolidated balance sheet of the Borrower.

    

    “Eligible Assignee”
means any Person that meets the requirements to be an assignee under Section 11.06(b)(iv)
and (v)
(subject to such consents, if any, as may be required under Section
11.06(b)(ii)).

    

    “EMU” means the
economic and monetary union in accordance with the Treaty of Rome 1957, as
amended by the Single European Act 1986, the Maastricht Treaty of 1992 and the
Amsterdam Treaty of 1998.

    

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

    

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

       
“Environmental
Laws” means any and all federal, state, local, foreign and other
applicable statutes, laws, regulations, ordinances, rules, judgments, orders,
decrees, permits, concessions, grants, franchises, licenses, agreements or
governmental restrictions relating to pollution and the protection of the environment
or the release of any materials into the environment, including those related to
hazardous substances or wastes, air emissions and discharges to waste or public
systems.

    

    “Environmental
Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or
indemnities), of the Borrower, any other Loan Party or any of their respective
Subsidiaries directly or indirectly resulting from or based upon (a) violation
of any Environmental Law, (b) the generation, use, handling, transportation,
storage, treatment or disposal of any Hazardous Materials, (c) exposure to any
Hazardous Materials, (d) the release or threatened release of any Hazardous
Materials into the environment or (e) any contract, agreement or other
consensual arrangement pursuant to which liability is assumed or imposed with
respect to any of the foregoing.

    

    “Equity
Interests”  means, with respect to any Person, all of the
shares of capital stock of (or other ownership or profit interests in) such
Person, all of the warrants, options or other rights for the purchase or
acquisition from such Person of shares of capital stock of (or other ownership
or profit interests in) such Person, all of the securities convertible into or
exchangeable for shares of capital stock of (or other ownership or profit
interests in) such Person or warrants, rights or options for the purchase or
acquisition from such Person of such shares (or such other interests), and all
of the other ownership or profit interests in such Person (including
partnership, member or trust interests therein), whether voting or nonvoting,
and whether or not such shares, warrants, options, rights or other interests are
outstanding on any date of determination.

    

    “Equity Issuance”
means any issuance by any Loan Party or any Subsidiary to any Person of its
Equity Interests, other than (a) any issuance of its Equity Interests pursuant
to the exercise of options or warrants, (b) any issuance of its Equity Interests
pursuant to the conversion of any debt securities to equity or the conversion of
any class equity securities to any other class of equity securities, (c) any
issuance of options or warrants relating to its Equity Interests, (d) any
issuance by the Borrower of its Equity Interests as consideration for a
Permitted Acquisition, (e) any issuance by the
Borrower of its Equity Interests pursuant to any employee stock purchase plan,
stock option plan or stock incentive plan and (f) any issuance by a Loan Party
or any Subsidiary of its Equity Interests to another Loan Party or another
Subsidiary.  The term “Equity Issuance” shall not be deemed to include
any Disposition.

    

    “ERISA” means the
Employee Retirement Income Security Act of 1974.

    

    “ERISA Affiliate”
means any trade or business (whether or not incorporated) under common control
with the Borrower within the meaning of Section 414(b) or (c) of the Internal
Revenue Code (and Sections 414(m) and (o) of the Internal Revenue Code for
purposes of provisions relating to Section 412 of the Internal Revenue
Code).

    

    “ERISA Event” means
(a) a Reportable Event with respect to a Pension Plan; (b) a withdrawal by the
Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of
ERISA during a plan year in which it was a substantial employer (as defined in
Section 4001(a)(2) of ERISA) or a cessation of operations that is treated as
such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial
withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan or
notification that a Multiemployer Plan is in reorganization; (d) the filing of a
notice of intent to terminate, the treatment of a Plan amendment as a
termination under Sections 4041 or 4041A of ERISA, or the commencement of
proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (e)
an event or condition which constitutes grounds under Section 4042 of ERISA for
the termination of, or 

    
 

    
      
        
           

        

        
          10

          
            

          

        

        
           

        

      

    

    

    the appointment of a
trustee to administer, any Pension Plan or Multiemployer Plan; or (f) the
imposition of any liability under Title IV of ERISA, other than for PBGC
premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower
or any ERISA Affiliate.
 

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

    

    “Eurocurrency Base
Rate” means,

    

    (a)           for
any Interest Period with respect to a Eurocurrency Rate Loan, the rate per annum
equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published
by Reuters (or other commercially available source providing quotations of BBA
LIBOR as designated by the Administrative Agent from time to time) at
approximately 11:00 a.m., London time, two Business Days prior to the
commencement of such Interest Period, for deposits in the relevant currency (for
delivery on the first day of such Interest Period) with a term equivalent to
such Interest Period.  If such rate is not available at such time for
any reason, then the “Eurocurrency Rate” for such Interest Period shall be the
rate per annum determined by the Administrative Agent to be the rate at which
deposits in the relevant currency for delivery on the first day of such Interest
Period in Same Day Funds in the approximate amount of the Eurocurrency Rate Loan
being made, continued or converted by Bank of America and with a term equivalent
to such Interest Period would be offered by Bank of America’s London Branch (or
other Bank of America branch or Affiliate) to major banks in the London or other
offshore interbank market for such currency at their request at approximately
11:00 a.m. (London time) two Business Days prior to the commencement of
such Interest Period; and

    

    (b)           for
any interest rate calculation with respect to a Base Rate Loan, the rate per
annum equal to (i) BBA LIBOR, at approximately 11:00 a.m., London time two
business days prior to the date of determination (provided that if such day is
not a London Business Day, the next preceding London Business Day) for Dollar
deposits being delivered in the London interbank market for a term of one month
commencing that day or (ii) if such published rate is not available at such time
for any reason, the rate determined by the Administrative Agent to be the rate
at which deposits in Dollars for delivery on the date of determination in same
day funds in the approximate amount of the Base Rate Loan being made, continued
or converted by Bank of America and with a term equal to one month would be
offered by Bank of America’s London Branch to major banks in the London
interbank Eurocurrency market at their request at the date and time of
determination. 

    

    “Eurocurrency Rate”
means, for any Interest Period with respect to any Eurocurrency Rate Loan, a
rate per annum determined by the Administrative Agent to be equal to the
quotient obtained by dividing (a) the Eurocurrency Base Rate for such
Eurocurrency Rate Loan for such Interest Period by (b) one minus the
Eurocurrency Reserve Percentage for such Eurocurrency Rate Loan for such
Interest Period.

    

    “Eurocurrency Rate
Loan” means a Loan that bears interest at a rate based on the
Eurocurrency Rate.  Eurocurrency Rate Loans may be denominated in
Dollars or in an Alternative Currency.  All Loans denominated in an
Alternative Currency must be Eurocurrency Rate Loans.

    

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

    
      
         

      

      
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    “Event of Default” has
the meaning specified in Section
9.01.

    

    “Excess Cash Flow”
means, for any period for the Borrower and its Subsidiaries, an amount equal to
the sum of (a) Consolidated EBITDA minus (b)
Consolidated Capital Expenditures paid in cash minus (c) any cash
consideration and related fees and expenses paid in connection with a Permitted
Acquisition, minus (d) the cash
portion of Consolidated Interest Charges minus (e)
Consolidated Taxes to the extent paid in cash minus (f)
Consolidated Scheduled Funded Debt Payments, in each case on a consolidated
basis determined in accordance with GAAP.

    

    “Excluded Taxes”
means, with respect to the Administrative Agent, any Lender, the L/C Issuer or
any other recipient of any payment to be made by or on account of any obligation
of the Borrower hereunder, (a) taxes imposed on or measured by its overall net
income (however denominated), and franchise taxes imposed on it (in lieu of net
income taxes), by the jurisdiction (or any political subdivision thereof) under
the Laws of which such recipient is organized or in which its principal office
is located or, in the case of any Lender, in which its applicable Lending Office
is located, (b) any branch profits taxes imposed by the United States or any
similar tax imposed by any other jurisdiction in which the Borrower is located,
(c) any backup withholding tax that is required by the Internal Revenue Code to
be withheld from amounts payable to a Lender that has failed to comply with
clause (A) of Section
3.01(e)(ii), and (d) in the case of a Foreign Lender (other than an
assignee pursuant to a request by the Borrower under Section 11.13), any
United States withholding tax that (i) is required to be imposed on amounts
payable to such Foreign Lender pursuant to the Laws in force at the time such
Foreign Lender becomes a party hereto (or designates a new Lending Office) or
(ii) is attributable to such Foreign Lender’s failure or inability (other than
as a result of a Change in Law) to comply with Section 3.01(e)(ii),
except to the extent that such Foreign Lender (or its assignor, if any) was
entitled, at the time of designation of a new Lending Office (or assignment), to
receive additional amounts from the Borrower with respect to such withholding
tax pursuant to Section 3.01(a)(i) or
(ii).

    

    “Existing Credit
Agreement” means that certain second amended and restated credit
agreement dated as of February 17, 2006 among the Borrower and Bank of
America.

    

    "Existing Letters of
Credit" means the letters of credit described on Schedule
1.01(a).

    

    “Extraordinary
Receipts” means, with respect to any Person, any cash received by or paid
to or for the account of such Person not in the ordinary course of business,
including pension plan reversions, proceeds of insurance (other than proceeds of
business interruption insurance to the extent such proceeds constitute
compensation for lost earnings and proceeds of Involuntary Dispositions),
indemnity payments and any purchase price adjustments; provided, however, that an
Extraordinary Receipt shall not include cash receipts from (i) proceeds of
insurance or indemnity payments to the extent that such proceeds, awards or
payments are received by any Person in respect of any third party claim against
such Person and applied to pay (or to reimburse such Person for its prior
payment of) such claim and the costs and expenses of such Person with respect
thereto, (ii) tax refunds and (iii) the AIG Settlement.

    

    “Facilities” means, at
any time, a collective reference to the facilities and real properties owned,
leased or operated by any Loan Party or any Subsidiary.

    

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

    
 

    
      
        
           

        

        
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    Funds
Rate for such day shall be the average rate (rounded upward,if necessary, to a
whole multiple of 1/100 of 1%) charged to Bank of America on such day on such
transactions as determined by the Administrative Agent.

    

    “Fee Letter” means the
letter agreement, dated as of January 29, 2009 among the Borrower, Bank of
America and BAS.

    

    “Foreign Lender” means
any Lender that is organized under the Laws of a jurisdiction other than that in
which the Borrower is resident for tax purposes (including such a Lender when
acting in the capacity of the L/C Issuer).  For purposes of this
definition, the United States, each State thereof and the District of Columbia
shall be deemed to constitute a single jurisdiction.

    

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

    

    “FRB” means the Board
of Governors of the Federal Reserve System of the United States.

    

    “Fund” means any
Person (other than a natural person) that is (or will be) engaged in making,
purchasing, holding or otherwise investing in commercial loans and similar
extensions of credit in the ordinary course of its activities.

    

    “Funded Indebtedness”
means, as to any Person at a particular time, without duplication, all of the
following, whether or not included as indebtedness or liabilities in accordance
with GAAP:

    

    (a)           all
obligations for borrowed money, whether current or long-term (including the
Obligations) and all obligations of such Person evidenced by bonds, debentures,
notes, loan agreements or other similar instruments;

    

    (b)           all
purchase money Indebtedness;

    

    (c)           the
principal portion of all obligations under conditional sale or other title
retention agreements relating to property purchased by the Borrower or any
Subsidiary (other than customary reservations or retentions of title under
agreements with suppliers entered into in the ordinary course of
business);

    

    (d)           all
obligations arising under letters of credit (including standby and commercial),
bankers’ acceptances, bank guaranties and similar instruments; provided, however, that Funded
Indebtedness shall not include bank guaranties of performance or payment
obligations of Foreign Subsidiaries;

    

    (e)           all
obligations in respect of the deferred purchase price of property or services
(other than trade accounts payable in the ordinary course of business and, in
each case, not past due for more than 60 days after the date on which such trade
account payable was created), including, without limitation, any Earn Out
Obligations recognized as a liability on the balance sheet of the Borrower and
its Subsidiaries in accordance with GAAP;

    

    (f)           the
Attributable Indebtedness of Capital Leases, Securitization Transactions and
Synthetic Leases;

    

    
      
         

      

      
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      (g)           all
obligations of such Person to purchase, redeem, retire, defease or otherwise
make any payment in respect of any Equity Interests in such Person or any other
Person, valued, in the case of a redeemable preferred interest, at the greater
of its voluntary or involuntary liquidation preference plus accrued and
unpaid dividends;

    

    

    (h)           all
Funded Indebtedness of others secured by (or for which the holder of such Funded
Indebtedness has an existing right, contingent or otherwise, to be secured by)
any Lien on, or payable out of the proceeds of production from, property owned
or acquired by such Person, whether or not the obligations secured thereby have
been assumed;

    

    (i)           all
Guarantees with respect to Funded Indebtedness of the types specified in clauses
(a) through (h) above of another Person; and

    

    (j)           all
Funded Indebtedness of the types referred to in clauses (a) through (i) above of
any partnership or joint venture (other than a joint venture that is itself a
corporation or limited liability company) in which such Person is a general
partner or joint venturer, except to the extent that Funded Indebtedness is
expressly made non-recourse to such Person.

    

    For
purposes hereof, the amount of any direct obligation arising under letters of
credit (including standby and commercial), bankers’ acceptances, bank guaranties
and similar instruments shall be the maximum amount available to be drawn
thereunder.

    

    “GAAP” means generally
accepted accounting principles in the United States set forth in the opinions
and pronouncements of the Accounting Principles Board and the American Institute
of Certified Public Accountants and statements and pronouncements of the
Financial Accounting Standards Board, consistently applied and as in effect from
time to time.

    

    “Governmental
Authority” means the government of the United States or any other nation,
or of any political subdivision thereof, whether state or local, and any agency,
authority, instrumentality, regulatory body, court, central bank or other entity
exercising executive, legislative, judicial, taxing, regulatory or
administrative powers or functions of or pertaining to government (including any
supra-national bodies such as the European Union or the European Central
Bank).

    

    “Guarantee” means, as
to any Person, (a) any obligation, contingent or otherwise, of such Person
guaranteeing or having the economic effect of guaranteeing any Indebtedness or
other obligation payable or performable by another Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any
obligation of such Person, direct or indirect, (i) to purchase or pay (or
advance or supply funds for the purchase or payment of) such Indebtedness or
other obligation, (ii) to purchase or lease property, securities or services for
the purpose of assuring the obligee in respect of such Indebtedness or other
obligation of the payment or performance of such Indebtedness or other
obligation, (iii) to maintain working capital, equity capital or any other
financial statement condition or liquidity or level of income or cash flow of
the primary obligor so as to enable the primary obligor to pay such Indebtedness
or other obligation, or (iv) entered into for the purpose of assuring in any
other manner the obligee in respect of such Indebtedness or other obligation of
the payment or performance thereof or to protect such obligee against loss in
respect thereof (in whole or in part), or (b) any Lien on any assets of such
Person securing any Indebtedness or other obligation of any other Person,
whether or not such Indebtedness or other obligation is assumed by such Person
(or any right, contingent or otherwise, of any holder of such Indebtedness to
obtain any such Lien).  The amount of any Guarantee shall be deemed to
be an amount equal to the stated or determinable amount of the related primary
obligation, or portion thereof, in respect of which such Guarantee is made or,
if not stated or determinable, the maximum 

    
      
        
           

           

          
            
              
              

            

            
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            reasonably
anticipated liability in respect thereof as determined by the guaranteeing
Person in good faith.  The term “Guarantee” as a verb has a
corresponding meaning.

          

        

      

    

    

    “Guarantors” means
each Domestic Subsidiary of the Borrower identified as a “Guarantor” on the
signature pages hereto and each other Person that joins as a Guarantor pursuant
to Section
7.12, together with their successors and permitted assigns.

    

    “Guaranty” means the
Guaranty made by the Guarantors in favor of the Administrative Agent and the
Lenders pursuant to Article
IV.

    

    “Hazardous Materials”
means all explosive or radioactive substances or wastes and all hazardous or
toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos-containing materials, polychlorinated
biphenyls, radon gas, infectious or medical wastes and all other substances or
wastes of any nature regulated pursuant to any Environmental Law.

    

    “Honor Date” has the
meaning set forth in Section
2.03(c).

    

    “Impacted Lender”
means any Lender as to which (a) the L/C Issuer has a good faith belief that
such Lender has defaulted in fulfilling its obligations under one or more other
syndicated credit facilities or (b) an entity that controls such Lender has been
deemed insolvent or has become subject to a bankruptcy or other similar
proceeding.

    

    “Incremental Term
Loan” means the Term Loans made by one or more Lenders to the Borrower
pursuant to Section
2.01(c).

    

    “Incremental Term Loan
Amount” means the amount of any increase in the Term Loan pursuant to the
terms of Section
2.02(f)(ii).

    

    “Incremental Term Loan
Commitment” means, as to any Lender, the commitment of such Lender to
make Incremental Term Loans to the Borrower hereunder pursuant to any
Incremental Term Loan Funding Agreement.

    

    “Incremental Term Loan
Funding Agreement” means a funding agreement, substantially in the form
of Exhibit I,
executed and delivered by a Lender in accordance with the provisions of Section
2.02(f).

    

    “Indebtedness” means,
as to any Person at a particular time, without duplication, all of the
following, whether or not included as indebtedness or liabilities in accordance
with GAAP:

    

    (a)           all
Funded Indebtedness;

    

    (b)           the
Swap Termination Value of any Swap Contract;

    

    (c)           all
Guarantees with respect to outstanding Indebtedness of the types specified in
clauses (a) and (b) above of any other Person; and

    

    (d)           all
Indebtedness of the types referred to in clauses (a) through (c) above of any
partnership or joint venture (other than a joint venture that is itself a
corporation or limited liability company) in which the Borrower or a Subsidiary
is a general partner or joint venturer, unless such Indebtedness is expressly
made non-recourse to the Borrower or such Subsidiary.

    
      
         

      

      
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      “Indemnified Taxes”
means Taxes other than Excluded Taxes.

      

      “Indemnitees” has the
meaning specified in Section
11.04(b).

       

      “Information” has the
meaning specified in Section
11.07.

    

    

    “Information
Memorandum” shall mean the Confidential Information Memorandum dated
February, 2009 relating to the Borrower and the transactions contemplated by
this Agreement and the other Loan Documents.

    

    “Intercreditor
Agreement” means that certain Amended and Restated Intercreditor
Agreement dated as of April 24, 2003, by and among the banks party thereto, the
holders of the Senior Notes and the Loan Parties party thereto.

    

    “Interest Payment
Date” means (a) as to any Eurocurrency Rate Loan, the last day of each
Interest Period applicable to such Loan and the Maturity Date; provided, however, that if any
Interest Period for a Eurocurrency Rate Loan exceeds three months, the
respective dates that fall every three months after the beginning of such
Interest Period shall also be Interest Payment Dates; and (b) as to any Base
Rate Loan (including a Swing Line Loan), the last Business Day of each March,
June, September and December and the Maturity Date.

    

    “Interest Period”
means, as to each Eurocurrency Rate Loan, the period commencing on the date such
Eurocurrency Rate Loan is disbursed or converted to or continued as a
Eurocurrency Rate Loan and ending on the date one, two, three or six months
thereafter, as selected by the Borrower in its Loan Notice,  provided
that:

    

    (a)           any
Interest Period that would otherwise end on a day that is not a Business Day
shall be extended to the next succeeding Business Day unless such Business Day
falls in another calendar month, in which case such Interest Period shall end on
the next preceding Business Day;

    

    (b)           any
Interest Period that begins on the last Business Day of a calendar month (or on
a day for which there is no numerically corresponding day in the calendar month
at the end of such Interest Period) shall end on the last Business Day of the
calendar month at the end of such Interest Period; and

    

    (c)           no
Interest Period with respect to any Loan shall extend beyond the Maturity
Date.

    

    “Interim Financial
Statements” means the unaudited financial statements of the Borrower and
its Subsidiaries delivered to the Administrative Agent and the Lenders pursuant
to Section
7.01(b).

    

    “Internal Revenue
Code” means the Internal Revenue Code of 1986, as amended.

    

    “Investment” means, as
to any Person, any direct or indirect acquisition or investment by such Person,
whether by means of (a) the purchase or other acquisition of Equity Interests of
another Person, (b) a loan, advance or capital contribution to, Guarantee or
assumption of debt of, or purchase or other acquisition of any other debt or
equity participation or interest in, another Person, including any partnership
or joint venture interest in such other Person and any arrangement pursuant
to which the investor Guarantees Indebtedness of such other Person, or (c) an
Acquisition.  For purposes of covenant compliance, the amount of any
Investment shall be the amount actually invested, without adjustment for
subsequent increases or decreases in the value of such Investment.

    

    
      
         

      

      
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      “Involuntary
Disposition” means any loss of, damage to or destruction of, or any
condemnation or other taking for public use of, any property of any Loan Party
or any of its Subsidiaries.

       

    

    “IP Rights” has the
meaning specified in Section
6.17.

    

    “IRS” means the United
States Internal Revenue Service.

    

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

    

    “Issuer Documents”
means with respect to any Letter of Credit, the Letter of Credit Application,
and any other document, agreement and instrument entered into by the L/C Issuer
and the Borrower (or any Subsidiary) or in favor of the L/C Issuer and relating
to any such Letter of Credit.

    

    “Joinder Agreement”
means a joinder agreement substantially in the form of Exhibit G executed
and delivered by a Domestic Subsidiary in accordance with the provisions of
Section
7.12.

    

    “Kinsel” means Kinsel
Industries, Inc., a Texas corporation.

    

    “Laws” means,
collectively, all international, foreign, federal, state and local statutes,
treaties, rules, guidelines, regulations, ordinances, codes and administrative
or judicial precedents or authorities, including the interpretation or
administration thereof by any Governmental Authority charged with the
enforcement, interpretation or administration thereof, and all applicable
administrative orders, directed duties, requests, licenses, authorizations and
permits of, and agreements with, any Governmental Authority, in each case
whether or not having the force of law.

    

    “L/C Advance” means,
with respect to each Lender, such Lender’s funding of its participation in any
L/C Borrowing in accordance with its Applicable Percentage.

    

    “L/C Borrowing” means
an extension of credit resulting from a drawing under any Letter of Credit which
has not been reimbursed on the date when made or refinanced as a Borrowing of
Revolving Loans.

    

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

    

    “L/C Issuer” means (a)
Bank of America and/or (b) any other Lender from time to time designated by the
Borrower as an L/C Issuer with the consent of such Lender and the Administrative
Agent, in each case in its capacity as issuer of Letters of Credit hereunder, or
any successor issuer of Letters of Credit hereunder.  In the event
that there is more than one L/C Issuer at any time, references herein and in the
other Loan Documents to the L/C Issuer shall be deemed to refer to the L/C
Issuer in respect of the applicable Letter of Credit or to all L/C Issuers, as
the context requires.

    

    “L/C Obligations”
means, as at any date of determination, the aggregate amount available to be
drawn under all outstanding Letters of Credit plus the aggregate of
all Unreimbursed Amounts, including all L/C Borrowings.  For purposes
of computing the amount available to be drawn under any Letter of Credit, the
amount of such Letter of Credit shall be determined in accordance with Section
1.08.  For all purposes of this Agreement, if on any date of
determination a Letter of Credit has expired by its terms but 

    
 

    
      
        
           

        

        
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    any amount may still be
drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter
of Credit shall be deemed to be “outstanding” in the amount so remaining
available to be drawn.

     

           
“Lenders” means
each of the Persons identified as a “Lender” on the signature pages hereto, each
Lender identified in the Incremental Loan Funding Agreement, if any, the Swing
Line Lender, as the context requires, and in each case, their successors and
assigns.

    

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

    

    “Letter of Credit”
means any letter of credit issued hereunder and shall including the Existing
Letters of Credit.  A Letter of Credit may be a commercial letter of
credit or a standby letter of credit.

    

    “Letter of Credit
Application” means an application and agreement for the issuance or
amendment of a letter of credit in the form from time to time in use by the L/C
Issuer.

    

    “Letter of Credit Expiration
Date” means the day that is thirty days prior to the Maturity Date then
in effect (or, if such day is not a Business Day, the next preceding Business
Day).

    

    “Letter of Credit Fee”
has the meaning specified in Section
2.03(i).

    

    “Letter of Credit
Sublimit” means an amount equal to the lesser of (a) the Aggregate
Revolving Commitments and (b) $35,000,000.  The Letter of Credit
Sublimit is part of, and not in addition to, the Aggregate Revolving
Commitments.

    

    “Lien” means any
mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance,
lien (statutory or other), charge, or preference, priority or other security
interest or preferential arrangement in the nature of a security interest of any
kind or nature whatsoever (including any conditional sale or other title
retention agreement, any easement, right of way or other encumbrance on title to
real property, and any financing lease having substantially the same economic
effect as any of the foregoing).

    

    “Loan” means an
extension of credit by a Lender to the Borrower under Article II in the
form of a Revolving Loan, Swing Line Loan or Term Loan.

    

    “Loan Documents” means
this Agreement, each Note, each Issuer Document, each Joinder Agreement, each
Incremental Term Loan Funding Agreement and the Fee Letter.

    

    “Loan Notice” means a
notice of (a) a Borrowing of Loans, (b) a conversion of Loans from one Type to
the other, or (c) a continuation of Eurocurrency Rate Loans, in each case
pursuant to Section
2.02(a), which, if in writing, shall be substantially in the form of
Exhibit
A.

    

    “Loan Parties” means,
collectively, the Borrower and each Guarantor.

    

    “Mandatory Cost”
means, with respect to any period, the percentage rate per annum determined in
accordance with Schedule
1.01(b).

    

    “Material Adverse
Effect” means (a) a material adverse change in, or a material adverse
effect upon, the business, assets, properties, liabilities, condition (financial
or otherwise) or prospects of the Borrower and its Subsidiaries taken as a
whole; (b) an impairment of the ability of any Loan Party to 

    
 

    
      
        
           

        

        
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    perform its material
obligations under any Loan Document to which it is a party; or (c) a material
adverse effect upon the legality, validity, binding effect or enforceability
against any Loan Party of any Loan Document to which it is a party.

     

    “Maturity Date” means
March 31, 2012.

    

    “Moody’s” means
Moody’s Investors Service, Inc. and any successor thereto.

    

    “Multiemployer Plan”
means any employee benefit plan of the type described in Section 4001(a)(3) of
ERISA, to which the Borrower or any ERISA Affiliate makes or is obligated to
make contributions, or during the preceding five plan years, has made or been
obligated to make contributions.

    

    “Net Cash Proceeds”
means the aggregate cash or Cash Equivalents proceeds received by any Loan Party
or any Subsidiary in respect of any Disposition, Equity Issuance, Debt Issuance
or Involuntary Disposition, net of (a) direct costs incurred in connection
therewith (including, without limitation, legal, accounting and investment
banking fees, and sales commissions), (b) taxes paid or payable as a result
thereof and (c) in the case of any Disposition, the amount necessary to retire
any Indebtedness secured by a Permitted Lien (ranking senior to any Lien of the
Administrative Agent) on the related property; it being understood that “Net
Cash Proceeds” shall include, without limitation, any cash or Cash Equivalents
received upon the sale or other disposition of any non-cash consideration
received by any Loan Party or any Subsidiary in any Disposition, Equity
Issuance, Debt Issuance or Involuntary Disposition.

    

    “Note” or “Notes” means the
Revolving Notes, the Swing Line Note and/or the Term Notes, individually or
collectively, as appropriate.

    

    “Note Purchase
Agreement” means that certain Note Purchase Agreement dated as of April
24, 2003 among the Borrower and the financial institutions party
thereto.

    

    “Obligations” means
all advances to, and debts, liabilities, obligations, covenants and duties of,
any Loan Party arising under any Loan Document or otherwise with respect to any
Loan or Letter of Credit, whether direct or indirect (including those acquired
by assumption), absolute or contingent, due or to become due, now existing or
hereafter arising and including interest and fees that accrue after the
commencement by or against any Loan Party or any Affiliate thereof of any
proceeding under any Debtor Relief Laws naming such Person as the debtor in such
proceeding, regardless of whether such interest and fees are allowed claims in
such proceeding. The foregoing shall also include (a) all obligations under any
Swap Contract between any Loan Party and any Lender or Affiliate of a Lender
that is permitted to be incurred pursuant to Section 8.03(d) and
(b) all obligations under any Treasury Management Agreement between any Loan
Party and any Lender or Affiliate of a Lender.

    

    “Organization
Documents” means, (a) with respect to any corporation, the certificate or
articles of incorporation and the bylaws (or equivalent or comparable
constitutive documents with respect to any non-U.S. jurisdiction); (b) with
respect to any limited liability company, the certificate or articles of
formation or organization and operating agreement; and (c) with respect to any
partnership, joint venture, trust or other form of business entity, the
partnership, joint venture or other applicable agreement of formation or
organization and any agreement, instrument, filing or notice with respect
thereto filed in connection with its formation or organization with the
applicable Governmental Authority in the jurisdiction of its formation or
organization and, if applicable, any certificate or articles of formation or
organization of such entity.

    

    “Other Taxes” means
all present or future stamp or documentary taxes or any other excise or property
taxes, charges or similar levies arising from any payment made hereunder or
under any other 

    
 

    
      
        
           

        

        
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    Loan Document
or from the execution, delivery or enforcement of, or otherwise with respect to,
this Agreement or any other Loan Document.

     

          
“Outstanding
Amount” means (a) with respect to any Loans on any date, the aggregate
outstanding principal amount thereof after giving effect to any borrowings and
prepayments or repayments of any Loans occurring on such date; and (b) with
respect to any L/C Obligations on any date, the amount of such L/C Obligations
on such date after giving effect to any L/C Credit Extension occurring on such
date and any other changes in the aggregate amount of the L/C Obligations as of
such date, including as a result of any reimbursements by the Borrower of
Unreimbursed Amounts.

    

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

    

    “Participant” has the
meaning specified in Section
11.06(d).

    

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

    

    “PBGC” means the
Pension Benefit Guaranty Corporation or any successor thereto.

    

    “Pension Plan” means
any “employee pension benefit plan” (as such term is defined in Section 3(2) of
ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA
and is sponsored or maintained by the Borrower or any ERISA Affiliate or to
which the Borrower or any ERISA Affiliate contributes or has an obligation to
contribute, or in the case of a multiple employer or other plan described in
Section 4064(a) of ERISA, has made contributions at any time during the
immediately preceding five plan years.

    

    “Permitted
Acquisitions” means Investments consisting of (a) an Acquisition by any
Loan Party with the consent of the Required Lenders and (b) any other
Acquisition by any Loan Party, provided that (i) no
Default shall have occurred and be continuing or would result from such
Acquisition, (ii) the property acquired (or the property of the Person acquired)
in such Acquisition is used or useful in the same or a related line of business
as the Borrower and its Subsidiaries were engaged in on the Closing Date (or any
reasonable extensions or expansions thereof), (iii) the Administrative Agent
shall have received all items in respect of the Equity Interests or property
acquired in such Acquisition required to be delivered by the terms of Section 7.12, (iv) in
the case of an Acquisition of the Equity Interests of another Person, the board
of directors (or other comparable governing body) of such other Person shall
have duly approved such Acquisition, (v) the Person being acquired shall have
attained a positive Permitted Acquisition EBITDA for the most recent twelve
month period ending prior to the closing of such Acquisition, (vi) the
representations and warranties made by the Loan Parties in each Loan Document
shall be true and correct in all material respects at and as if made as of the
date of such Acquisition (after giving effect thereto) except to the extent such
representations and warranties expressly relate to an earlier date, (vii) if
such transaction involves the purchase of an interest in a partnership between
the Borrower (or a Subsidiary) as a general partner and entities unaffiliated
with the Borrower or such Subsidiary as the other partners, such transaction
shall be effected by having such equity interest acquired by a corporate holding
company directly or indirectly wholly-owned by the Borrower newly formed for the
sole purpose of effecting such transaction, and (viii) the Borrower shall have
delivered to the Administrative Agent a Pro Forma Compliance Certificate

    
 

    
      
        
           

        

        
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    demonstrating
that, upon giving effect to such Acquisition on a Pro Forma Basis, (a) the Loan Parties would
be in compliance with the financial covenants set forth in Section 8.11 as of
the most recent fiscal quarter for which the Borrower was required to deliver
financial statements pursuant to Section 7.01(a) or
(b) and (b) the
Consolidated Leverage Ratio is less than 1.75 to 1.0.

    

    “Permitted Acquisition
EBITDA” means, for any period, the sum of (i) net income after taxes of
any Person, as determined in accordance with GAAP plus (ii) an amount which, in
determination of net income for such period, has been deducted for (a) interest
expense, taxes, depreciation and amortization expense, all as determined in
accordance with GAAP and (b) to the extent not capitalized, costs and expenses
incurred in connection with the applicable Acquisition or accelerated with the
applicable Acquisition.

    

    “Permitted
Investments” means, at any time, Investments by any Loan Party or any of
its Subsidiaries permitted to exist at such time pursuant to the terms of Section
8.02.

    

    “Permitted Liens”
means, at any time, Liens in respect of property of any Loan Party or any of its
Subsidiaries permitted to exist at such time pursuant to the terms of Section
8.01.

    

    “Permitted Sale Leaseback
Transaction” means any Sale and Leaseback Transaction entered into by a
Loan Party or any Subsidiary after the Closing Date; provided, that (a)
the aggregate value of all properties of the Loan Parties and their Subsidiaries
that are Disposed of pursuant to Permitted Sale Leaseback Transactions shall not
exceed $10,000,000 and (b) the consideration paid in connection any Permitted
Sale Leaseback Transaction shall be cash or Cash Equivalents paid
contemporaneous with consummation of such Permitted Sale Leaseback Transaction
and shall be in an amount not less than the fair market value of the property
Disposed of.

    

    “Person” means any
natural person, corporation, limited liability company, trust, joint venture,
association, company, partnership, Governmental Authority or other
entity.

    

    “Plan” means any
“employee benefit plan” (as such term is defined in Section 3(3) of ERISA)
established by the Borrower or, with respect to any such plan that is subject to
Section 412, Section 430 or Section 431 of the Internal Revenue Code or Title IV
of ERISA, any ERISA Affiliate.

    

    “Platform” has the
meaning specified in Section
7.02.

    

    “Prime Rate” means the
rate of interest in effect for such day as publicly announced from time to time
by Bank of America as its “prime rate.”  The “prime rate” is a rate set by
Bank of America based upon various factors including Bank of America’s costs and
desired return, general economic conditions and other factors, and is used as a
reference point for pricing some loans, which may be priced at, above, or below
such announced rate.  Any change in such rate announced by Bank of America
shall take effect at the opening of business on the day specified in the public
announcement of such change.

    

    “Priority Debt” means,
as of any date of determination thereof, the sum (without duplication) of (a)
Indebtedness of Subsidiaries on such date, other than (i) Indebtedness owing to
the Borrower or any Wholly Owned Subsidiary and (ii) any Guarantee by any
Subsidiary of unsecured Indebtedness of the Borrower or any other Subsidiary so
long as such Subsidiary is a Guarantor and has complied with the terms of Section 7.12, and (b)
Indebtedness of the Borrower and its Subsidiaries secured by Liens permitted by
Section
8.01.

    

    “Pro Forma Basis”
means, for purposes of calculating the financial covenants set forth in Section 8.11
(including for purposes of determining the Applicable Rate), that any
Disposition, Involuntary Disposition, Acquisition or Restricted Payment shall be
deemed to have occurred as of the first day of the 

    
 

    
      
        
           

        

        
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    most
recent four fiscal quarter period preceding the date of such transaction for
which the Borrower was required to deliver financial statements pursuant to
Section 7.01(a)
or (b).  In
connection with the foregoing, (a) with respect to any Disposition or
Involuntary Disposition, income statement and cash flow statement items (whether
positive or negative) attributable to the property disposed of shall be excluded
to the extent relating to any period occurring prior to the date of such
transaction and (b) with respect to any Acquisition, income statement items
attributable to the Person or property acquired shall be included to the extent
relating to any period applicable in such calculations to the extent (A) such
items are not otherwise included in such income statement items for the Borrower
and its Subsidiaries in accordance with GAAP or in accordance with any defined
terms set forth in Section 1.01 and (B)
such items are supported by financial statements or other information reasonably
satisfactory to the Administrative Agent and (ii) any Indebtedness incurred or
assumed by the Borrower or any Subsidiary (including the Person or property
acquired) in connection with such transaction (A) shall be deemed to have been
incurred as of the first day of the applicable period and (B) if such
Indebtedness has a floating or formula rate, shall have an implied rate of
interest for the applicable period for purposes of this definition determined by
utilizing the rate which is or would be in effect with respect to such
Indebtedness as at the relevant date of determination.

    

    “Pro Forma Compliance
Certificate” means a certificate of a Responsible Officer of the Borrower
containing reasonably detailed calculations of the financial covenants set forth
in Section 8.11
as of the most recent fiscal quarter end for which the Borrower was required to
deliver financial statements pursuant to Section 7.01(a) or
(b) after
giving effect to the applicable transaction on a Pro Forma Basis.

    

    “Public Lender” has
the meaning specified in Section
7.02.

    

    “Register” has the
meaning specified in Section
11.06(c).

    

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

    

    “Reportable Event”
means any of the events set forth in Section 4043(c) of ERISA, other than events
for which the thirty-day notice period has been waived.

    

    “Request for Credit
Extension” means (a) with respect to a Borrowing, conversion or
continuation of Loans, a Loan Notice, (b) with respect to an L/C Credit
Extension, a Letter of Credit Application and (c) with respect to a Swing Line
Loan, a Swing Line Loan Notice.

    

    “Required Lenders”
means, at any time, two or more Lenders holding in the aggregate more than 50%
of (a) the unfunded Commitments, the outstanding Loans, L/C Obligations and
participations therein or (b) if the Commitments have been terminated, the
outstanding Loans, L/C Obligations and participations therein.  The
unfunded Commitments of, and the outstanding Loans held or deemed held by, any
Defaulting Lender shall be excluded for purposes of making a determination of
Required Lenders.

    

    “Responsible Officer”
means the chief executive officer, president, chief financial officer,
treasurer, chief administrative officer or general counsel of a Loan
Party.  Any document delivered hereunder that is signed by a
Responsible Officer of a Loan Party shall be conclusively presumed to have been
authorized by all necessary corporate, partnership and/or other action on the
part of such Loan Party and such Responsible Officer shall be conclusively
presumed to have acted on behalf of such Loan Party.

    

    “Restricted Payment”
means any dividend or other distribution (whether in cash, securities or other
property) with respect to any Equity Interests of any Loan Party or any
Subsidiary, or any payment 

    
      
         

      

      
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    (whether
in cash, securities or other property), including any sinking fund or similar
deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination of any such Equity Interests or on account of
any return of capital to the Borrower’s stockholders, partners or members (or
the equivalent Person thereof), or any setting apart of funds or property for
any of the foregoing.

    

    “Revaluation Date”
means with respect to any Loan, each of the following:  (a) each
date of a Borrowing of a Eurocurrency Rate Loan denominated in an Alternative
Currency, (b) each date of a continuation of a Eurocurrency Rate Loan
denominated in an Alternative Currency pursuant to Section 2.02,
and (c) such additional dates as the Administrative Agent shall determine
or the Required Lenders shall require.

    

    “Revolving Commitment”
means, as to each Lender, its obligation to (a) make Revolving Loans to the
Borrower pursuant to Section 2.01, (b)
purchase participations in L/C Obligations and (c) purchase participations in
Swing Line Loans, in an aggregate principal amount at any one time outstanding
not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in
the Assignment and Assumption pursuant to which such Lender becomes a party
hereto, as applicable, as such amount may be adjusted from time to time in
accordance with this Agreement.

    

    “Revolving Loan” has
the meaning specified in Section
2.01(a).

    

    “Revolving Note” has
the meaning specified in Section
2.11(a).

    

    “Rupee” means the
lawful currency of India.

    

    “S&P” means
Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies,
Inc. and any successor thereto.

    

    “Sale and Leaseback
Transaction” means, with respect to any Loan Party or any Subsidiary, any
arrangement, directly or indirectly, with any Person whereby the Loan Party or
such Subsidiary shall sell or transfer any property used or useful in its
business, whether now owned or hereafter acquired, and thereafter rent or lease
such property or other property that it intends to use for substantially the
same purpose or purposes as the property being sold or transferred.

    

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

    

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

    

    “Securitization
Transaction” means, with respect to any Person, any financing transaction
or series of financing transactions (including factoring arrangements) pursuant
to which such Person or any Subsidiary of such Person may sell, convey or
otherwise transfer, or grant a security interest in, accounts, payments,
receivables, rights to future lease payments or residuals or similar rights to
payment to a special purpose subsidiary or affiliate of such
Person.

    

    “Senior Notes” means
the 6.54% senior notes, series 2003-A, due April 24, 2013 in the aggregate
principal amount of $65,000,000 issued pursuant to the Note Purchase
Agreement.

    
      
         

      

      
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    “Significant
Subsidiary” means, at any time, any Subsidiary that would at such time
constitute a “significant subsidiary,” as defined in Regulation S-X of the
SEC.

    

    “Solvent” or “Solvency” means, with
respect to any Person as of a particular date, that on such date (a) such Person
is able to pay its debts and other liabilities, contingent obligations and other
commitments as they mature in the ordinary course of business, (b) such Person
does not intend to, and does not believe that it will, incur debts or
liabilities beyond such Person’s ability to pay as such debts and liabilities
mature in their ordinary course, (c) such Person is not engaged in a business or
a transaction, and is not about to engage in a business or a transaction, for
which such Person’s property would constitute unreasonably small capital after
giving due consideration to the prevailing practice in the industry in which
such Person is engaged or is to engage, (d) the fair value of the property of
such Person is greater than the total amount of liabilities, including, without
limitation, contingent liabilities, of such Person and (e) the present fair
salable value of the assets of such Person is not less than the amount that will
be required to pay the probable liability of such Person on its debts as they
become absolute and matured.  In computing the amount of contingent
liabilities at any time, it is intended that such liabilities will be computed
at the amount which, in light of all the facts and circumstances existing at
such time, represents the amount that can reasonably be expected to become an
actual or matured liability.

    

    “Special Notice
Currency” means at any time an Alternative Currency, other than the
currency of a country that is a member of the Organization for Economic
Cooperation and Development at such time located in North America or
Europe.

    

    “Spot Rate” for a
currency means the rate determined by the Administrative Agent to be the rate
quoted by the Person acting in such capacity as the spot rate for the purchase
by such Person of such currency with another currency through its principal
foreign exchange trading office at approximately 11:00 a.m. on the date two
Business Days prior to the date as of which the foreign exchange computation is
made; provided
that the Administrative Agent may obtain such spot rate from another financial
institution designated by the Administrative Agent if the Person acting in such
capacity does not have as of the date of determination a spot buying rate for
any such currency.

    

    “Sterling” means the
lawful currency of the United Kingdom.

    

    “Subsidiary” of a
Person means a corporation, partnership, joint venture, limited liability
company or other business entity of which a majority of the shares of Voting
Stock is at the time beneficially owned, or the management of which is otherwise
controlled, directly, or indirectly through one or more intermediaries, or both,
by such Person.  Unless otherwise specified, all references herein to
a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries
of the Borrower and “controlled” is used in its general sense and not as a
defined term.

    

    “Swap Contract” means
(a) any and all rate swap transactions, basis swaps, credit derivative
transactions, forward rate transactions, commodity swaps, commodity options,
forward commodity contracts, equity or equity index swaps or options, bond or
bond price or bond index swaps or options or forward bond or forward bond price
or forward bond index transactions, interest rate options, forward foreign
exchange transactions, cap transactions, floor transactions, collar
transactions, currency swap transactions, cross-currency rate swap transactions,
currency options, spot contracts, or any other similar transactions or any
combination of any of the foregoing (including any options to enter into any of
the foregoing), whether or not any such transaction is governed by or subject to
any master agreement, and (b) any and all transactions of any kind, and the
related confirmations, which are subject to the terms and conditions of, or
governed by, any form of master agreement published by the International Swaps
and Derivatives Association, Inc., any International Foreign Exchange Master
Agreement, or any other master

    
      
         

      

      
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    agreement
(any such master agreement, together with any related schedules, a “Master Agreement”),
including any such obligations or liabilities under any Master
Agreement.

    

    “Swap Termination
Value” means, in respect of any one or more Swap Contracts, after taking
into account the effect of any legally enforceable netting agreement relating to
such Swap Contracts, (a) for any date on or after the date such Swap Contracts
have been closed out and termination value(s) determined in accordance
therewith, such termination value(s) and (b) for any date prior to the date
referenced in clause (a), the amount(s) determined as the mark-to-market
value(s) for such Swap Contracts, as determined based upon one or more
mid-market or other readily available quotations provided by any recognized
dealer in such Swap Contracts (which may include a Lender or any Affiliate of a
Lender).

    

    “Swing Line Lender”
means Bank of America in its capacity as provider of Swing Line Loans, or any
successor swing line lender hereunder.

    

    “Swing Line Loan” has
the meaning specified in Section
2.04(a).

    

    “Swing Line Loan
Notice” means a notice of a Borrowing of Swing Line Loans pursuant to
Section
2.04(b), which, if in writing, shall be substantially in the form of
Exhibit
B.

    

    “Swing Line Note” has
the meaning specified in Section
2.11(a).

    

    “Swing Line Sublimit”
means an amount equal to the lesser of (a) $5,000,000 and (b) the Aggregate
Revolving Commitments.  The Swing Line Sublimit is part of, and not in
addition to, the Aggregate Revolving Commitments.

    

    “Synthetic Lease”
means any synthetic lease, tax retention operating lease, off-balance sheet loan
or similar off-balance sheet financing arrangement whereby the arrangement is
considered borrowed money indebtedness for tax purposes but is classified as an
operating lease or does not otherwise appear on a balance sheet under
GAAP.

    

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

    

    “Taxes” means all
present or future taxes, levies, imposts, duties, deductions, withholdings
(including backup withholding), assessments, fees or other charges imposed by
any Governmental Authority, including any interest, additions to tax or
penalties applicable thereto.

    

    “Term Loan” has the
meaning specified in Section 2.01(b) and,
unless the context shall otherwise require, the term “Term Loan” shall include
the Incremental Term Loans issued pursuant to Section
2.02(f)(ii).

    

    “Term Loan Commitment”
means, as to each Lender, its obligation to make its portion of the Term Loan to
the Borrower pursuant to Section 2.01(b), in
the principal amount set forth opposite such Lender’s name on Schedule 2.01. The
aggregate principal amount of the Term Loan Commitments of all of the Lenders as
in effect on the Closing Date is FIFTY MILLION DOLLARS
($50,000,000).

    

    “Term Note” has the
meaning specified in Section
2.11(a).

    
      
         

      

      
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    “Threshold Amount”
means $7,500,000.

    

    “Total Revolving
Outstandings” means the aggregate Outstanding Amount of all Revolving
Loans, all Swing Line Loans and all L/C Obligations.

    

    “Treasury Management
Agreement” means any agreement governing the provision of treasury or
cash management services, including deposit accounts, overdraft, credit or debit
card, funds transfer, automated clearinghouse, zero balance accounts, returned
check concentration, controlled disbursement, lockbox, account reconciliation
and reporting and trade finance services and other cash management
services.

    

    “Type” means, with
respect to any Loan, its character as a Base Rate Loan or a Eurocurrency Rate
Loan.

    

    “United States” and
“U.S.” mean the
United States of America.

    

    “Unreimbursed Amount”
has the meaning specified in Section
2.03(c)(i).

    

    “Voting Stock” means,
with respect to any Person, Equity Interests issued by such Person the holders
of which are ordinarily, in the absence of contingencies, entitled to vote for
the election of directors (or persons performing similar functions) of such
Person, even though the right to vote has been suspended by the happening of
such a contingency.

    

    “Wholly Owned
Subsidiary” means any Person 100% of whose Equity Interests are at the
time owned by the Borrower directly or indirectly through other Persons 100% of
whose Equity Interests are at the time owned, directly or indirectly, by the
Borrower.

    

    1.02         Other Interpretive
Provisions.

    

    With
reference to this Agreement and each other Loan Document, unless otherwise
specified herein or in such other Loan Document:

    

    (a)           The
definitions of terms herein shall apply equally to the singular and plural forms
of the terms defined.  Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter
forms.  The words “include,” “includes” and “including” shall be
deemed to be followed by the phrase “without limitation.”  The word
“will” shall be
construed to have the same meaning and effect as the word “shall.”  Unless
the context requires otherwise, (i) any definition of or reference to any
agreement, instrument or other document (including any Organization Document)
shall be construed as referring to such agreement, instrument or other document
as from time to time amended, supplemented or otherwise modified (subject to any
restrictions on such amendments, supplements or modifications set forth herein
or in any other Loan Document), (ii) any reference herein to any Person shall be
construed to include such Person’s successors and assigns, (iii) the words
“herein,”
“hereof” and
“hereunder,”
and words of similar import when used in any Loan Document, shall be construed
to refer to such Loan Document in its entirety and not to any particular
provision thereof, (iv) all references in a Loan Document to Articles, Sections,
Exhibits and Schedules shall be construed to refer to Articles and Sections of,
and Exhibits and Schedules to, the Loan Document in which such references
appear, (v) any reference to any law shall include all statutory and regulatory
provisions consolidating, amending, replacing or interpreting such law and any
reference to any law or regulation shall, unless otherwise specified, refer to
such law or regulation as amended, modified or supplemented from time to time,
and (vi) the

    
      
         

      

      
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    words
“asset” and
“property”
shall be construed to have the same meaning and effect and to refer to any and
all real and personal property and tangible and intangible assets and
properties, including cash, securities, accounts and contract
rights.

    

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

    

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

    

    1.03         Accounting
Terms.

    

    (a)           Generally.  Except
as otherwise specifically prescribed herein, all accounting terms not
specifically or completely defined herein shall be construed in conformity with,
and all financial data (including financial ratios and other financial
calculations) required to be submitted pursuant to this Agreement shall be
prepared in conformity with, GAAP applied on a consistent basis, as in effect
from time to time, applied in a manner consistent with that used in preparing
the Audited Financial Statements; provided, however, that calculations of
Attributable Indebtedness under any Synthetic Lease or the implied interest
component of any Synthetic Lease shall be made by the Borrower in accordance
with accepted financial practice and consistent with the terms of such Synthetic
Lease.

    

    (b)           Changes in
GAAP.  To the extent such changes materially impact the
Borrower’s financial statements and are not disclosed therein, the Borrower will
provide a written summary of material changes in GAAP and in the consistent
application thereof with each annual and quarterly Compliance Certificate
delivered in accordance with Section
7.02(a).  If at any time any change in GAAP would affect the
computation of any financial ratio or requirement set forth in any Loan
Document, and either the Borrower or the Required Lenders shall so request, the
Administrative Agent, the Lenders and the Borrower shall negotiate in good faith
to amend such ratio or requirement to preserve the original intent thereof in
light of such change in GAAP (subject to the approval of the Required Lenders);
provided that, until so
amended, (i) such ratio or requirement shall continue to be computed in
accordance with GAAP prior to such change therein and (ii) the Borrower shall
provide to the Administrative Agent and the Lenders financial statements and
other documents required under this Agreement or as reasonably requested
hereunder setting forth a reconciliation between calculations of such ratio or
requirement made before and after giving effect to such change in
GAAP.

    

    (c)           Calculations.  Notwithstanding
the above, the parties hereto acknowledge and agree that all calculations of the
financial covenants in Section 8.11
(including for purposes of determining the Applicable Rate) shall be made on a
Pro Forma Basis.

    

    1.04         Rounding.

    

    Any
financial ratios required to be maintained by the Borrower pursuant to this
Agreement shall be calculated by dividing the appropriate component by the other
component, carrying the result to one place more than the number of places by
which such ratio is expressed herein and rounding the result up or down to the
nearest number (with a rounding-up if there is no nearest number).

    

    1.05         Exchange Rates; Currency
Equivalents.

    
      
         

      

      
        27

        
          

        

      

      
         

      

    

          
 (a)           The
Administrative Agent shall determine the Spot Rates as of each Revaluation Date
to be used for calculating Dollar Equivalent amounts of Credit Extensions and
Outstanding Amounts denominated in Alternative Currencies.  Such Spot
Rates shall become effective as of such Revaluation Date and shall be the Spot
Rates employed in converting any amounts between the applicable currencies until
the next Revaluation Date to occur.  Except for purposes of financial
statements delivered by Loan Parties hereunder or calculating financial
covenants hereunder or except as otherwise provided herein, the applicable
amount of any currency (other than Dollars) for purposes of the Loan Documents
shall be such Dollar Equivalent amount as so determined by the Administrative
Agent.

    

    (b)           Wherever
in this Agreement in connection with a Borrowing, conversion, continuation or
prepayment of a Eurocurrency Rate Loan, an amount, such as a required minimum or
multiple amount, is expressed in Dollars, but such Borrowing, Eurocurrency Rate
Loan is denominated in an Alternative Currency, such amount shall be the
relevant Alternative Currency Equivalent of such Dollar amount (rounded to the
nearest unit of such Alternative Currency, with 0.5 of a unit being rounded
upward), as determined by the Administrative Agent.

    

    1.06         Change of
Currency.

    

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

    

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

    

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

    

    1.07         Times of
Day.

    

    Unless
otherwise specified, all references herein to times of day shall be references
to Eastern time (daylight or standard, as applicable).

    

    1.08         Letter of Credit
Amounts.

    

    Unless
otherwise specified herein, the amount of a Letter of Credit at any time shall
be deemed to be the Dollar Equivalent of the stated amount of such Letter of
Credit in effect at such time; provided, however, that with
respect to any Letter of Credit that, by its terms or the terms of any Issuer
Document related thereto, provides for one or more automatic increases in the
stated amount thereof, the amount of such Letter of Credit shall be deemed to be
the Dollar Equivalent of the maximum stated amount of such

    
      
         

      

      
        28

        
          

        

      

      
         

      

    

    Letter of
Credit after giving effect to all such increases, whether or not such maximum
stated amount is in effect at such time.

     

    

    ARTICLE
II

    

    THE
COMMITMENTS AND CREDIT EXTENSIONS

    

    2.01         Commitments.

    

    (a)           Revolving
Loans.  Subject to the terms and conditions set forth herein,
each Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to
the Borrower in Dollars or in one or more Alternative Currencies from time to
time on any Business Day during the Availability Period in an aggregate amount
not to exceed at any time outstanding the amount of such Lender’s Revolving
Commitment; provided, however, that after
giving effect to any Borrowing of Revolving Loans, (i) the Total Revolving
Outstandings shall not exceed the Aggregate Revolving Commitments, (ii) the
aggregate Outstanding Amount of the Revolving Loans of any Lender, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all L/C Obligations plus such Lender’s
Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall
not exceed such Lender’s Revolving Commitment and (iii) the aggregate
Outstanding Amount of all Revolving Loans denominated in Alternative Currencies
shall not exceed the Alternative Currency Sublimit.  Within the limits
of each Lender’s Revolving Commitment, and subject to the other terms and
conditions hereof, the Borrower may borrow under this Section 2.01, prepay
under Section
2.05, and reborrow under this Section
2.01.  Revolving Loans may be Base Rate Loans or Eurocurrency
Rate Loans, or a combination thereof, as further provided herein, provided,
however, all Borrowings made on the Closing Date shall be made as Base Rate
Loans.

    

    (b)           Term
Loan.  Subject to the terms and conditions set forth herein,
each Lender severally agrees to make its portion of a term loan (the “Term Loan”) to the
Borrower in Dollars on the Closing Date in an amount not to exceed such Lender’s
Term Loan Commitment.  Amounts repaid on the Term Loan may not be
reborrowed.  The Term Loan may consist of Base Rate Loans or
Eurocurrency Rate Loans or a combination thereof, as further provided herein,
provided, however, all
Borrowings made on the Closing Date shall be made as Base Rate
Loans.

    

    (c)           Incremental Term
Loan.  Subject to Section 2.02(f), each
Lender having an Incremental Term Loan Commitment agrees, subject to the terms
and conditions set forth herein and in the applicable Incremental Term Loan
Funding Agreement, to make Incremental Term Loans to the Borrower in an
aggregate principal amount not to exceed its respective Incremental Term Loan
Commitment.  Amounts repaid or prepaid in respect of Incremental Term
Loans may not be reborrowed.

    

    2.02         Borrowings, Conversions and
Continuations of Loans.

    

    (a)           Each
Borrowing, each conversion of Loans from one Type to the other, and each
continuation of Eurocurrency Rate Loans shall be made upon the Borrower’s
irrevocable notice to the Administrative Agent, which may be given by
telephone.  Each such notice must be received by the Administrative
Agent not later than 11:00 a.m. (i) three Business Days prior to the requested
date of any Borrowing of, conversion to or continuation of, Eurocurrency Rate
Loans or of any conversion of Eurocurrency Rate Loans to Base Rate Loans,
(ii) four Business Days (or five Business Days in the case of a Special
Notice Currency) prior to the requested date of any Borrowing or continuation of
Eurocurrency Rate Loans denominated in Alternative Currencies, and (iii) on the
requested date of any Borrowing of Base Rate Loans.  Each telephonic
notice by the Borrower pursuant to this Section 2.02(a) must
be confirmed promptly by delivery to the Administrative Agent of a written Loan
Notice,

    
      
         

      

      
        29

        
          

        

      

      
         

      

    

    appropriately
completed and signed by a Responsible Officer of the Borrower.  Each
Borrowing of, conversion to or continuation of Eurocurrency Rate Loans shall be
in a principal amount of $1,000,000 or a whole multiple of
$500,000 in excess
thereof.  Except as provided in Sections 2.03(c) and
2.04(c), each
Borrowing of or conversion to Base Rate Loans shall be in a principal amount of
$1,000,000 or a whole multiple of $500,000 in excess thereof.  Each
Loan Notice (whether telephonic or written) shall specify (i) whether the
Borrower is requesting a Borrowing, a conversion of Loans from one Type to the
other, or a continuation of Eurocurrency Rate Loans, (ii) the requested date of
the Borrowing, conversion or continuation, as the case may be (which shall be a
Business Day), (iii) the principal amount of Loans to be borrowed, converted or
continued, (iv) the Type of Loans to be borrowed or to which existing Loans are
to be converted, (v) the currency of the Loans to be borrowed and (vi) if
applicable, the duration of the Interest Period with respect
thereto.  If the Borrower fails to specify a currency in a Loan Notice
requesting a Borrowing, then the Loans so requested shall be made in
Dollars.  If the Borrower fails to specify a Type of a Loan in a Loan
Notice or if the Borrower fails to give a timely notice requesting a conversion
or continuation, then the applicable Loans shall be made as, or converted to,
Base Rate Loans; provided, however, that in the
case of a failure to timely request a continuation of Loans denominated in an
Alternative Currency, such Loans shall be continued as Eurocurrency Rate Loans
in their original currency with an Interest Period of one month.  Any
such automatic conversion to Base Rate Loans shall be effective as of the last
day of the Interest Period then in effect with respect to the applicable
Eurocurrency Rate Loans.  If the Borrower requests a Borrowing of,
conversion to, or continuation of Eurocurrency Rate Loans in any Loan Notice,
but fails to specify an Interest Period, it will be deemed to have specified an
Interest Period of one month.

    

    (b)           Following
receipt of a Loan Notice, the Administrative Agent shall promptly notify each
Lender of the amount of its Applicable Percentage of the applicable Loans, and
if no timely notice of a conversion or continuation is provided by the Borrower,
the Administrative Agent shall notify each Lender of the details of any
automatic conversion to Base Rate Loans as described in the preceding
subsection.  In the case of a Borrowing, each Lender shall make the
amount of its Loan available to the Administrative Agent in Same Day Funds at
the Administrative Agent’s Office for the applicable currency not later than
1:00 p.m., in the case of any Loan denominated in Dollars, and not later
than the Applicable Time specified by the Administrative Agent in the case of
any Loan in an Alternative Currency, in each case on the Business Day specified
in the applicable Loan Notice.  Upon satisfaction of the applicable
conditions set forth in Section 5.02 (and, if
such Borrowing is the initial Credit Extension, Section 5.01), the
Administrative Agent shall make all funds so received available to the Borrower
in like funds as received by the Administrative Agent either by (i) crediting
the account of the Borrower on the books of Bank of America with the amount of
such funds or (ii) wire transfer of such funds, in each case in accordance with
instructions provided to (and reasonably acceptable to) the Administrative Agent
by the Borrower; provided, however, that if, on
the date of a Borrowing of Revolving Loans, there are L/C Borrowings
outstanding, then the proceeds of such Borrowing, first, shall be applied to the
payment in full of any such L/C Borrowings and second, shall be made
available to the Borrower as provided above.

    

    (c)           Except
as otherwise provided herein, a Eurocurrency Rate Loan may be continued or
converted only on the last day of the Interest Period for such Eurocurrency Rate
Loan.  During the existence of a Default, no Loans may be requested
as, converted to or continued as Eurocurrency Rate Loans (whether in Dollars or
any Alternative Currency) without the consent of the Required Lenders, and the
Required Lenders may demand that any or all of the then outstanding Eurocurrency
Rate Loans denominated in an Alternative Currency be prepaid, or redenominated
into Dollars in the amount of the Dollar Equivalent thereof, on the last day of
the then currency Interest Period with respect thereto.

    

    (d)           The
Administrative Agent shall promptly notify the Borrower and the Lenders of the
interest rate applicable to any Interest Period for Eurocurrency Rate Loans upon
determination of such interest rate.  At any time that Base Rate Loans
are outstanding, the Administrative Agent shall notify the

    
      
         

      

      
        30

        
          

        

      

      
         

      

    

    Borrower
and the Lenders of any change in the Prime Rate used in determining the Base
Rate promptly following the public announcement of such change.

    

    (e)           After
giving effect to all Borrowings, all conversions of Loans from one Type to the
other, and all continuations of Loans as the same Type, there shall not be more
than 6 Interest Periods in effect with respect to all Loans.

    

    (f)           The
Borrower may at any time and from time to time, upon prior written notice by the
Borrower to the Administrative Agent, increase the Commitments (but not the
Letter of Credit Sublimit, the Swing Line Sublimit and the Alternative Currency
Sublimit) by a maximum aggregate amount of up to TWENTY-FIVE MILLION DOLLARS
($25,000,000) as follows:

    

    (i)           Increase in Aggregate
Revolving Commitments.  The Borrower may, at any time and from
time to time, upon prior written notice by the Borrower to the Administrative
Agent increase the Aggregate Revolving Commitments (but not the Letter of Credit
Sublimit, the Swing Line Sublimit and the Alternative Currency Sublimit) with
additional Revolving Commitments from any existing Lender with a Revolving
Commitment or new Revolving Commitments from any other Person selected by the
Borrower and reasonably acceptable to the Administrative Agent and the L/C
Issuer; provided
that:

    
 

    (A)           any
such increase shall be in a minimum principal amount of $10,000,000 and in
integral multiples of $1,000,000 in excess thereof;

    

    (B)           no
Default or Event of Default shall exist and be continuing at the time of any
such increase;

    

    (C)           no
existing Lender shall be under any obligation to increase its Commitment and any
such decision whether to increase its Commitment shall be in such Lender’s sole
and absolute discretion;

    

    (D)           (1)
any new Lender shall join this Agreement by executing such joinder documents
required by the Administrative Agent and/or (2) any existing Lender electing to
increase its Commitment shall have executed a commitment agreement satisfactory
to the Administrative Agent; and

    

    (E)           as
a condition precedent to such increase, the Borrower shall deliver to the
Administrative Agent a certificate of each Loan Party dated as of the date of
such increase (in sufficient copies for each Lender) signed by a Responsible
Officer of such Loan Party (1) certifying and attaching the resolutions adopted
by such Loan Party approving or consenting to such increase, and (2) in the case
of the Borrower, certifying that, before and after giving effect to such
increase, (x) the representations and warranties contained in Article VI and the
other Loan Documents are true and correct in all material respects on and as of
the date of such increase, except to the extent that such representations and
warranties specifically refer to an earlier date, in which case they are true
and correct in all material respects as of such earlier date, and except that
for purposes of this Section 2.02(f), the
representations and warranties contained in subsections (a) and (b) of Section 6.05 shall be
deemed to refer to the most recent statements furnished pursuant to clauses (a)
and (b), respectively, of Section 7.01, and (y)
no Default or Event of Default exists.

    
      
         

      

      
        31

        
          

        

      

      
         

      

    

          
The Borrower shall prepay any Loans owing by it and outstanding on the date of
any such increase (and pay any additional amounts required pursuant to Section 3.05) to the
extent necessary to keep the outstanding Loans ratable with any revised
Commitments arising from any nonratable increase in the Commitments under this
Section.

    

    (ii)           Institution of Incremental
Term Loan.  The Borrower may, at any time, upon prior written
notice to the Administrative Agent, institute the Incremental Term Loan; provided
that

    

    (A)           the
Borrower (in consultation and coordination with the Administrative Agent) shall
obtain commitments for the amount of the increase from existing Lenders or other
Persons reasonably acceptable to the Administrative Agent, which Lenders shall
execute an Incremental Term Loan Funding Agreement or other agreement reasonably
acceptable to the Administrative Agent;

    

    (B)           any
such institution of the Incremental Term Loan Amount shall be in a minimum
aggregate principal amount of $10,000,000 and integral multiples of $1,000,000
in excess thereof;

    

    (C)           no
Default or Event of Default shall exist and be continuing at the time of such
institution;

    

    (D)           Schedule 2.01 shall
be deemed revised to add the commitments of the Incremental Term Loan Lenders as
set forth in the Incremental Term Loan Funding Agreement;

    

    (E)           as
a condition precedent to such institution of the Incremental Term Loan and the
effectiveness of the Incremental Term Loan Funding Agreement, the Borrower shall
deliver to the Administrative Agent a certificate of each Loan Party dated as of
the date of such institution and effectiveness (in sufficient copies for each
Lender) signed by a Responsible Officer of such Loan Party (I) certifying and
attaching the resolutions adopted by such Loan Party approving or consenting to
the Incremental Term Loan, and (II) in the case of the Borrower, certifying
that, before and after giving effect to the Incremental Term Loan, (x) the
representations and warranties contained in Article VI and the
other Loan Documents are true and correct in all material respects on and as of
the date of such increase, except to the extent that such representations and
warranties specifically refer to an earlier date, in which case they are true
and correct in all material respects as of such earlier date, and except that
for purposes of this Section 2.02(f), the
representations and warranties contained in subsections (a) and (b) of Section 6.05 shall be
deemed to refer to the most recent statements furnished pursuant to clauses (a)
and (b), respectively, of Section 7.01, and (y)
no Default or Event of Default exists.

    

    Once
made, all Incremental Term Loans shall be treated as, and have the same terms
as, the Term Loans under this Agreement.  The Borrower shall pay any
amounts required pursuant to Section 3.05 after the inclusion of all Incremental
Term Loans, when originally made, in each borrowing of outstanding Term Loans on
a pro rata basis.

    

    2.03         Letters of
Credit.

    
      
         

      

      
        32

        
          

        

      

      
         

      

    

           
(a)           The Letter of Credit
Commitment.

    

    (i)           Subject
to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in
reliance upon the agreements of the Lenders set forth in this Section 2.03, (1)
from time to time on any Business Day during the period from the Closing Date
until the Letter of Credit Expiration Date, to issue Letters of Credit
denominated in Dollars or in one or more Alternative Currencies for the account
of the Borrower or any of its Subsidiaries, and to amend or extend Letters of
Credit previously issued by it, in accordance with subsection (b) below, and (2)
to honor drawings under the Letters of Credit; and (B) the Lenders severally
agree to participate in Letters of Credit issued for the account of the Borrower
or its Subsidiaries and any drawings thereunder; provided that after
giving effect to any L/C Credit Extension with respect to any Letter of Credit,
(x) the Total Revolving Outstandings shall not exceed the Aggregate Revolving
Commitments, (y) the aggregate Outstanding Amount of the Revolving Loans of any
Lender, plus
such Lender’s Applicable Percentage of the Outstanding Amount of all L/C
Obligations plus such Lender’s
Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall
not exceed such Lender’s Revolving Commitment and (z) the Outstanding Amount of
the L/C Obligations shall not exceed the Letter of Credit
Sublimit.  Each request by the Borrower for the issuance or amendment
of a Letter of Credit shall be deemed to be a representation by the Borrower
that the L/C Credit Extension so requested complies with the conditions set
forth in the proviso to the preceding sentence.  Within the foregoing
limits, and subject to the terms and conditions hereof, the Borrower’s ability
to obtain Letters of Credit shall be fully revolving, and accordingly the
Borrower may, during the foregoing period, obtain Letters of Credit to replace
Letters of Credit that have expired or that have been drawn upon and reimbursed.
 All Existing
Letters of Credit shall be deemed to have been issued pursuant hereto, and from
and after the Closing Date shall be subject to and governed by the terms and
conditions hereof.

    

    
      	
               
      

            	
               

            	
              (ii)    The L/C
      Issuer shall not issue any Letter of Credit
if:

            

    

    

     (A)           
subject to Section
2.03(b)(iii), the expiry date of such requested Letter of Credit would
occur more than twelve months after the date of issuance or last extension
(other than the Chicago Letter of Credit), unless the Required Lenders have
approved such expiry date; or

    

     (B)           the
expiry date of such requested Letter of Credit would occur after the Letter of
Credit Expiration Date (other than the Chicago Letter of Credit), unless all the
Lenders have approved such expiry date.

    

    
      	
               

            	
              (iii)   The L/C Issuer
      shall not be under any obligation to issue any Letter of Credit
      if:

            

    

     

     (A)           any
order, judgment or decree of any Governmental Authority or arbitrator shall by
its terms purport to enjoin or restrain the L/C Issuer from issuing such Letter
of Credit, or any Law applicable to the L/C Issuer or any request or directive
(whether or not having the force of law) from any Governmental Authority with
jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer
refrain from, the issuance of letters of credit generally or such Letter of
Credit in particular or shall impose upon the L/C Issuer with respect to such
Letter of Credit any restriction, reserve or capital requirement (for which the
L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing
Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost or expense
which was not applicable on the Closing Date and which the L/C Issuer in good
faith deems material to it;

    
      
         

      

      
        33

        
          

        

      

      
         

      

    

     (B)           the
issuance of such Letter of Credit would violate one or more policies of the L/C
Issuer applicable to letters of credit generally;

    

     (C)           except
as otherwise agreed by the Administrative Agent and the L/C Issuer, such Letter
of Credit is in an initial stated amount less than $500,000 (other than the
Chicago Letter of Credit and the Existing Letters of Credit identified in Part A
of Schedule
1.01(a));

    

     (D)           such
Letter of Credit is to be denominated in a currency other than Dollars or an
Alternative Currency; or

    

     (E)           a
default of any Lender’s obligations to fund under Section 2.03(c)
exists or any Lender is at such time a Defaulting Lender or an Impacted Lender
hereunder, unless the L/C Issuer has entered into arrangements satisfactory to
the L/C Issuer with the Borrower or such Lender to eliminate the L/C Issuer’s
risk with respect to such Lender.

    

    (iv)          The
L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) the
L/C Issuer would have no obligation at such time to issue such Letter of Credit
in its amended form under the terms hereof, or (B) the beneficiary of such
Letter of Credit does not accept the proposed amendment to such Letter of
Credit.

    

    (v)           The
L/C Issuer shall act on behalf of the Lenders with respect to any Letters of
Credit issued by it and the documents associated therewith, and the L/C Issuer
shall have all of the benefits and immunities (A) provided to the Administrative
Agent in Article
X with respect to any acts taken or omissions suffered by the L/C Issuer
in connection with Letters of Credit issued by it or proposed to be issued by it
and Issuer Documents pertaining to such Letters of Credit as fully as if the
term “Administrative Agent” as used in Article X included
the L/C Issuer with respect to such acts or omissions, and (B) as additionally
provided herein with respect to the L/C Issuer.

    

    
      	
               
      

            	
              (b)

            	
              Procedures for
      Issuance and Amendment of Letters of Credit; Auto-Extension Letters of
      Credit.

            

    

    

    (i)       
    Each Letter of Credit shall be issued or amended, as the
case may be, upon the request of the Borrower delivered to the L/C Issuer (with
a copy to the Administrative Agent) in the form of a Letter of Credit
Application, appropriately completed and signed by a Responsible Officer of the
Borrower.  Such Letter of Credit Application must be received by the
L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least five
(5) Business Days (or such later date and time as the Administrative Agent and
the L/C Issuer may agree in a particular instance in their sole discretion)
prior to the proposed issuance date or date of amendment, as the case may
be.  In the case of a request for an initial issuance of a Letter of
Credit, such Letter of Credit Application shall specify in form and detail
satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested
Letter of Credit (which shall be a Business Day); (B) the currency and amount
thereof; (C) the expiry date thereof; (D) the name and address of the
beneficiary thereof; (E) the documents to be presented by such beneficiary in
case of any drawing thereunder; (F) the full text of any certificate to be
presented by such beneficiary in case of any drawing thereunder; (G) the purpose
and nature of the requested Letter of Credit; and (H) such other matters as the
L/C Issuer may require.  In the case of a request for an amendment of
any outstanding Letter of Credit, such Letter of Credit Application shall
specify in form and detail satisfactory to the L/C Issuer (A) the Letter of
Credit to be amended; (B) the proposed date of amendment thereof (which shall be
a Business Day); (C) the nature of the proposed amendment;

    
      
         

      

      
        34

        
          

        

      

      
         

      

    

    and (D)
such other matters as the L/C Issuer may require.  Additionally, the
Borrower shall furnish to the L/C Issuer and the Administrative Agent such other
documents and information pertaining to such requested Letter of Credit issuance
or amendment, including any Issuer Documents, as the L/C Issuer or the
Administrative Agent may reasonably require.

    

    (ii)     
      Promptly after receipt of any Letter of
Credit Application, the L/C Issuer will confirm with the Administrative Agent
(by telephone or in writing) that the Administrative Agent has received a copy
of such Letter of Credit Application from the Borrower and, if not, the L/C
Issuer will provide the Administrative Agent with a copy
thereof.  Unless the L/C Issuer has received written notice from any
Lender, the Administrative Agent or any Loan Party, at least one Business Day
prior to the requested date of issuance or amendment of the applicable Letter of
Credit, that one or more applicable conditions contained in Article V shall not
be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer
shall, on the requested date, issue a Letter of Credit for the account of the
Borrower or the applicable Subsidiary or enter into the applicable amendment, as
the case may be, in each case in accordance with the L/C Issuer’s usual and
customary business practices.  Immediately upon the issuance of each
Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and
unconditionally agrees to, purchase from the L/C Issuer a risk participation in
such Letter of Credit in an amount equal to the product of such Lender’s
Applicable Percentage times the amount of
such Letter of Credit.

    

    (iii)           If
the Borrower so requests in any applicable Letter of Credit Application, the L/C
Issuer may, in its sole and absolute discretion, agree to issue a Letter of
Credit that has automatic extension provisions (each, an “Auto-Extension Letter of
Credit”); provided that any
such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any
such extension at least once in each twelve-month period (commencing with the
date of issuance of such Letter of Credit) by giving prior notice to the
beneficiary thereof not later than a day (the “Non-Extension Notice
Date”) in each such twelve-month period to be agreed upon at the time
such Letter of Credit is issued.  Unless otherwise directed by the L/C
Issuer, the Borrower shall not be required to make a specific request to the L/C
Issuer for any such extension.  Once an Auto-Extension Letter of
Credit has been issued, the Lenders shall be deemed to have authorized (but may
not require) the L/C Issuer to permit the extension of such Letter of Credit at
any time to an expiry date not later than the Letter of Credit Expiration Date;
provided, however, that the L/C
Issuer shall not permit any such extension if (A) the L/C Issuer has determined
that it would not be permitted, or would have no obligation, at such time to
issue such Letter of Credit in its revised form (as extended) under the terms
hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.03(a) or
otherwise), or (B) it has received notice (which may be by telephone or in
writing) on or before the day that is seven Business Days before the
Non-Extension Notice Date (1) from the Administrative Agent that the Required
Lenders have elected not to permit such extension or (2) from the Administrative
Agent, any Lender or the Borrower that one or more of the applicable conditions
specified in Section
5.02 is not then satisfied, and in each case directing the L/C Issuer not
to permit such extension.

    

    (iv)           Promptly
after its delivery of any Letter of Credit or any amendment to a Letter of
Credit to an advising bank with respect thereto or to the beneficiary thereof,
the L/C Issuer will also deliver to the Borrower and the Administrative Agent a
true and complete copy of such Letter of Credit or amendment.

    

    (c)           Drawings and Reimbursements;
Funding of Participations.

    

    (i)        
    Upon receipt from the beneficiary of any Letter of
Credit of any notice of a drawing under such Letter of Credit, the L/C Issuer
shall notify the Borrower and the

    
      
         

      

      
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    Administrative
Agent thereof.  Not later than 11:00 a.m. on the date of any
payment by the L/C Issuer under a Letter of Credit (each such date, an “Honor Date”), the
Borrower shall reimburse the L/C Issuer through the Administrative Agent in
Dollars in an amount equal to the Dollar Equivalent of such
drawing.  If the Borrower fails to so reimburse the L/C Issuer by such
time, the Administrative Agent shall promptly notify each Lender of the Honor
Date, the amount of the unreimbursed drawing (the “Unreimbursed
Amount”), and the amount of such Lender’s Applicable Percentage
thereof.  In such event, the Borrower shall be deemed to have
requested a Borrowing of Base Rate Loans to be disbursed on the Honor Date in an
amount equal to the Dollar Equivalent of the Unreimbursed Amount, without regard
to the minimum and multiples specified in Section 2.02 for
the principal amount of Base Rate Loans, but subject to the amount of the
unutilized portion of the Aggregate Revolving Commitments and the conditions set
forth in Section 5.02
(other than the delivery of a Loan Notice).  Any notice given by the
L/C Issuer or the Administrative Agent pursuant to this Section 2.03(c)(i) may
be given by telephone if immediately confirmed in writing; provided that the
lack of such an immediate confirmation shall not affect the conclusiveness or
binding effect of such notice.

    

    (ii)   
        Each Lender shall upon any
notice pursuant to Section 2.03(c)(i)
make funds available in Dollars to the Administrative Agent for the account of
the L/C Issuer at the Administrative Agent’s Office in an amount equal to the
Dollar Equivalent of its Applicable Percentage of the Unreimbursed Amount not
later than 1:00 p.m. on the Business Day specified in such notice by the
Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii),
each Lender that so makes funds available shall be deemed to have made a Base
Rate Loan to the Borrower in such amount.  The Administrative Agent
shall remit the funds so received to the L/C Issuer.

    

    (iii)           With
respect to any Unreimbursed Amount that is not fully refinanced by a Borrowing
of Base Rate Loans because the conditions set forth in Section 5.02 cannot
be satisfied or for any other reason, the Borrower shall be deemed to have
incurred from the L/C Issuer an L/C Borrowing in Dollars in the amount of the
Dollar Equivalent of the Unreimbursed Amount that is not so refinanced, which
L/C Borrowing shall be due and payable on demand (together with interest) and
shall bear interest at the Default Rate.  In such event, each Lender’s
payment to the Administrative Agent for the account of the L/C Issuer pursuant
to Section
2.03(c)(ii) shall be deemed payment in respect of its participation in
such L/C Borrowing and shall constitute an L/C Advance from such Lender in
satisfaction of its participation obligation under this Section
2.03.

    

    (iv)          Until
each Lender funds its Revolving Loan or L/C Advance pursuant to this Section 2.03(c) to
reimburse the L/C Issuer for any amount drawn under any Letter of Credit,
interest in respect of such Lender’s Applicable Percentage of such amount shall
be solely for the account of the L/C Issuer.

    

    (v)           Each
Lender’s obligation to make Revolving Loans or L/C Advances to reimburse the L/C
Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c),
shall be absolute and unconditional and shall not be affected by any
circumstance, including (A) any setoff, counterclaim, recoupment, defense or
other right which such Lender may have against the L/C Issuer, the Borrower or
any other Person for any reason whatsoever; (B) the occurrence or continuance of
a Default, or (C) any other occurrence, event or condition, whether or not
similar to any of the foregoing; provided, however, that each
Lender’s obligation to make Revolving Loans pursuant to this Section 2.03(c) is
subject to the conditions set forth in Section 5.02 (other
than delivery by the Borrower of a Loan Notice).  No such making of an
L/C Advance shall relieve or otherwise impair the obligation of the Borrower to
reimburse

    
      
         

      

      
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    the L/C
Issuer for the amount of any payment made by the L/C Issuer under any Letter of
Credit, together with interest as provided herein.

    

    (vi)       
   If any Lender fails to make available to the Administrative
Agent for the account of the L/C Issuer any amount required to be paid by such
Lender pursuant to the foregoing provisions of this Section 2.03(c) by
the time specified in Section 2.03(c)(ii),
the L/C Issuer shall be entitled to recover from such Lender (acting through the
Administrative Agent), on demand, such amount with interest thereon for the
period from the date such payment is required to the date on which such payment
is immediately available to the L/C Issuer at a rate per annum equal to the
applicable Overnight Rate from time to time in effect, plus any administrative,
processing or similar fees customarily charged by the L/C Issuer in connection
with the foregoing.  A certificate of the L/C Issuer submitted to any
Lender (through the Administrative Agent) with respect to any amounts owing
under this clause (vi) shall be conclusive absent manifest error.

    

    (d)           Repayment of
Participations.

    

    (i)           
 At any time after the L/C Issuer has made a payment under any Letter of
Credit and has received from any Lender such Lender’s L/C Advance in respect of
such payment in accordance with Section 2.03(c), if
the Administrative Agent receives for the account of the L/C Issuer any payment
in respect of the related Unreimbursed Amount or interest thereon (whether
directly from the Borrower or otherwise, including proceeds of cash collateral
applied thereto by the Administrative Agent), the Administrative Agent will
distribute to such Lender its Applicable Percentage thereof (appropriately
adjusted, in the case of interest payments, to reflect the period of time during
which such Lender’s L/C Advance was outstanding) in the same funds as those
received by the Administrative Agent.

    

    (ii)       
    If any payment received by the Administrative Agent for
the account of the L/C Issuer pursuant to Section 2.03(c)(i) is
required to be returned under any of the circumstances described in Section 11.05
(including pursuant to any settlement entered into by the L/C Issuer in its
discretion), each Lender shall pay to the Administrative Agent for the account
of the L/C Issuer its Applicable Percentage thereof on demand of the
Administrative Agent, plus interest thereon
from the date of such demand to the date such amount is returned by such Lender,
at a rate per annum equal to the applicable Overnight Rate from time to time in
effect.  The obligations of the Lenders under this clause shall
survive the payment in full of the Obligations and the termination of this
Agreement.

    

    (e)           Obligations
Absolute.  The obligation of the Borrower to reimburse the L/C
Issuer for each drawing under each Letter of Credit and to repay each L/C
Borrowing shall be absolute, unconditional and irrevocable, and shall be paid
strictly in accordance with the terms of this Agreement under all circumstances,
including the following:

    

    
      	
               

            	
                     
      (i)    any lack of
      validity or enforceability of such Letter of Credit, this Agreement or any
      other Loan Document;

            

    

    

    
      	
               

            	
                  (ii)    the
      existence of any claim, counterclaim, setoff, defense or other right that
      the Borrower or any Subsidiary may have at any time against any
      beneficiary or any transferee of such Letter of Credit (or any Person for
      whom any such beneficiary or any such transferee may be acting), the L/C
      Issuer or any other Person, whether in connection with this Agreement, the
      transactions contemplated hereby or by such Letter of Credit or any
      agreement or instrument relating thereto, or any unrelated
      transaction;

            

    

    
      
         

      

      
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      (iii)   any
      draft, demand, certificate or other document presented under such Letter
      of Credit proving to be forged, fraudulent, invalid or insufficient in any
      respect or any statement therein being untrue or inaccurate in any
      respect; or any loss or delay in the transmission or otherwise of any
      document required in order to make a drawing under such Letter of
      Credit;

            

    

    

    
      	
               

            	
                     
      (iv)   any
      payment by the L/C Issuer under such Letter of Credit against presentation
      of a draft or certificate that does not strictly comply with the terms of
      such Letter of Credit; or any payment made by the L/C Issuer under such
      Letter of Credit to any Person purporting to be a trustee in bankruptcy,
      debtor-in-possession, assignee for the benefit of creditors, liquidator,
      receiver or other representative of or successor to any beneficiary or any
      transferee of such Letter of Credit, including any arising in connection
      with any proceeding under any Debtor Relief Law;
  or

            

    

    

    (v)           any
other circumstance or happening whatsoever, whether or not similar to any of the
foregoing, including any other circumstance that might otherwise constitute a
defense available to, or a discharge of, the Borrower or any
Subsidiary.

    

    The
Borrower shall promptly examine a copy of each Letter of Credit and each
amendment thereto that is delivered to it and, in the event of any claim of
noncompliance with the Borrower’s instructions or other irregularity, the
Borrower will immediately notify the L/C Issuer.  The Borrower shall
be conclusively deemed to have waived any such claim against the L/C Issuer and
its correspondents unless such notice is given as aforesaid.

     

            (f)           Role
of L/C Issuer.  Each Lender and the Borrower agree that, in
paying any drawing under a Letter of Credit, the L/C Issuer shall not have any
responsibility to obtain any document (other than any sight draft, certificates
and documents expressly required by such Letter of Credit) or to ascertain or
inquire as to the validity or accuracy of any such document or the authority of
the Person executing or delivering any such document.  None of the L/C
Issuer, the Administrative Agent, any of their respective Related Parties nor
any correspondent, participant or assignee of the L/C Issuer shall be liable to
any Lender for (i) any action taken or omitted in connection herewith at the
request or with the approval of the Lenders or the Required Lenders, as
applicable; (ii) any action taken or omitted in the absence of gross negligence
or willful misconduct; or (iii) the due execution, effectiveness, validity or
enforceability of any document or instrument related to any Letter of Credit or
Issuer Document.  The Borrower hereby assumes all risks of the acts or
omissions of any beneficiary or transferee with respect to its use of any Letter
of Credit; provided,
however,
that this assumption is not intended to, and shall not, preclude the Borrower’s
pursuing such rights and remedies as it may have against the beneficiary or
transferee at law or under any other agreement.  None of the L/C
Issuer, the Administrative Agent, any of their respective Related Parties nor
any correspondent, participant or assignee of the L/C Issuer shall be liable or
responsible for any of the matters described in clauses (i) through (v) of Section
2.03(e); provided,
however,
that anything in such clauses to the contrary notwithstanding, the Borrower may
have a claim against the L/C Issuer, and the L/C Issuer may be liable to the
Borrower, to the extent, but only to the extent, of any direct, as opposed to
consequential or exemplary, damages suffered by the Borrower which the Borrower
proves were caused by the L/C Issuer’s willful misconduct or gross negligence or
the L/C Issuer’s willful failure to pay under any Letter of Credit after the
presentation to it by the beneficiary of a sight draft and certificate(s)
strictly complying with the terms and conditions of a Letter of Credit unless
the L/C Issuer is prevented or prohibited from so paying as a result of any
order or directive of any court or other Governmental Authority.  In
furtherance and not in limitation of the foregoing, the L/C Issuer may accept
documents that appear on their face to be in order, without responsibility for
further investigation, regardless of any notice or information to the contrary,
and the L/C Issuer shall not be responsible for the validity or sufficiency of
any instrument transferring or assigning or purporting
to

    
      
         

      

      
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    transfer
or assign a Letter of Credit or the rights or benefits thereunder or proceeds
thereof, in whole or in part, which may prove to be invalid or ineffective for
any reason.

    

    (g)           Cash
Collateral.  Upon the request of the Administrative Agent, (i)
if the L/C Issuer has honored any full or partial drawing request under any
Letter of Credit and such drawing has resulted in an L/C Borrowing, or (ii) if,
as of the Letter of Credit Expiration Date, any L/C Obligation for any reason
remains outstanding, the Borrower shall, in each case, immediately Cash
Collateralize the then Outstanding Amount of all L/C
Obligations.  Sections 2.05 and
9.02(c) set
forth certain additional requirements to deliver Cash Collateral
hereunder.  For purposes of this Section 2.03, Section 2.05 and
Section
9.02(c), “Cash
Collateralize” means to pledge and deposit with or deliver to the
Administrative Agent, for the benefit of the L/C Issuer and the Lenders, as
collateral for the L/C Obligations, cash or deposit account balances pursuant to
documentation in form and substance satisfactory to the Administrative Agent and
the L/C Issuer (which documents are hereby consented to by the
Lenders).  Derivatives of such term have corresponding
meanings.  The Borrower hereby grants to the Administrative Agent, for
the benefit of the L/C Issuer and the Lenders, a security interest in all such
cash, deposit accounts and all balances therein and all proceeds of the
foregoing.  Cash Collateral shall be maintained in blocked, interest
bearing deposit accounts with the Administrative Agent.

    

    (h)           Applicability of ISP and
UCP.  Unless otherwise expressly agreed by the L/C Issuer and
the Borrower when a Letter of Credit is issued (including any such agreement
applicable to an Existing Letter of Credit), (i) the rules of the ISP shall
apply to each standby Letter of Credit and (ii) the rules of the Uniform Customs
and Practice for Documentary Credits, as most recently published by the
International Chamber of Commerce at the time of issuance shall apply to each
commercial Letter of Credit.

    

    (i)           Letter of Credit
Fees.  The Borrower shall pay to the Administrative Agent for
the account of each Lender in accordance with its Applicable Percentage a Letter
of Credit fee (the “Letter of Credit
Fee”) for each Letter of Credit equal to the Applicable Rate times the daily
maximum amount available to be drawn under such Letter of Credit.  For
purposes of computing the daily amount available to be drawn under any Letter of
Credit, the amount of such Letter of Credit shall be determined in accordance
with Section
1.08.  Letter of Credit Fees shall be (i) computed on a
quarterly basis in arrears and (ii) due and payable on the first Business Day
after the end of each March, June, September and December, commencing with the
first such date to occur after the issuance of such Letter of Credit, on the
Letter of Credit Expiration Date and thereafter on demand.  If there
is any change in the Applicable Rate during any quarter, the daily amount
available to be drawn under each Letter of Credit shall be computed and
multiplied by the Applicable Rate separately for each period during such quarter
that such Applicable Rate was in effect.  Notwithstanding anything to
the contrary contained herein, while any Event of Default exists, all Letter of
Credit Fees shall accrue at the Default Rate.

    

    (j)           Fronting Fee and Documentary
and Processing Charges Payable to L/C Issuer. The Borrower shall pay
directly to the L/C Issuer for its own account a fronting fee with respect to
each Letter of Credit, at the rate per annum specified in the Fee Letter,
computed on the actual daily maximum amount available to be drawn under such
Letter of Credit (whether or not such maximum amount is then in effect under
such Letter of Credit) and on a quarterly basis in arrears.  Such
fronting fee shall be due and payable on the tenth Business Day after the end of
each March, June, September and December in respect of the most recently-ended
quarterly period (or portion thereof, in the case of the first payment),
commencing with the first such date to occur after the issuance of such Letter
of Credit, on the Letter of Credit Expiration Date and thereafter on
demand.  For purposes of computing the daily amount available to be
drawn under any Letter of Credit, the amount of such Letter of Credit shall be
determined in accordance with Section
1.08.  In addition, the Borrower shall pay directly to the L/C
Issuer for its own account the customary issuance, presentation, amendment and
other processing fees, and other standard

    
      
         

      

      
        39

        
          

        

      

      
         

      

    

    costs and
charges, of the L/C Issuer relating to letters of credit as from time to time in
effect.  Such customary fees and standard costs and charges are due
and payable on demand and are nonrefundable.

    

    (k)           Conflict with Issuer
Documents.  In the event of any conflict between the terms
hereof and the terms of any Issuer Document, the terms hereof shall
control.

    

    (l)           Letters of Credit Issued for
Subsidiaries.  Notwithstanding that a Letter of Credit issued
or outstanding hereunder is in support of any obligations of, or is for the
account of, a Subsidiary, the Borrower shall be obligated to reimburse the L/C
Issuer hereunder for any and all drawings under such Letter of
Credit.  The Borrower hereby acknowledges that the issuance of Letters
of Credit for the account of Subsidiaries inures to the benefit of the Borrower,
and that the Borrower’s business derives substantial benefits from the
businesses of such Subsidiaries.

    

    2.04         Swing Line
Loans.

    

    (a)           Swing Line
Facility.  Subject to the terms and conditions set forth
herein, the Swing Line Lender may, in its discretion and in reliance upon the
agreements of the other Lenders set forth in this Section 2.04, make
loans (each such loan, a “Swing Line Loan”) to
the Borrower in Dollars from time to time on any Business Day during the
Availability Period in an aggregate amount not to exceed at any time outstanding
the amount of the Swing Line Sublimit; provided, however, that after
giving effect to any Swing Line Loan, (i) the Total Revolving Outstandings shall
not exceed the Aggregate Revolving Commitments, and (ii) the aggregate
Outstanding Amount of the Revolving Loans of any Lender, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall
not exceed such Lender’s Revolving Commitment, and provided, further, that the
Borrower shall not use the proceeds of any Swing Line Loan to refinance any
outstanding Swing Line Loan.  Within the foregoing limits, and subject
to the other terms and conditions hereof, the Borrower may borrow under this
Section 2.04,
prepay under Section
2.05, and reborrow under this Section
2.04.  Each Swing Line Loan shall be a Base Rate
Loan.  Immediately upon the making of a Swing Line Loan, each Lender
shall be deemed to, and hereby irrevocably and unconditionally agrees to,
purchase from the Swing Line Lender a risk participation in such Swing Line Loan
in an amount equal to the product of such Lender’s Applicable Percentage times the amount of
such Swing Line Loan.

    

    (b)           Borrowing
Procedures.  Each Borrowing of Swing Line Loans shall be made
upon the Borrower’s irrevocable notice to the Swing Line Lender and the
Administrative Agent, which may be given by telephone.  Each such
notice must be received by the Swing Line Lender and the Administrative Agent
not later than 1:00 p.m. on the requested borrowing date, and shall specify (i)
the amount to be borrowed, which shall be a minimum principal amount of $500,000
and integral multiples of $100,000 in excess thereof, and (ii) the requested
borrowing date, which shall be a Business Day.  Each such telephonic
notice must be confirmed promptly by delivery to the Swing Line Lender and the
Administrative Agent of a written Swing Line Loan Notice, appropriately
completed and signed by a Responsible Officer of the
Borrower.  Promptly after receipt by the Swing Line Lender of any
telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the
Administrative Agent (by telephone or in writing) that the Administrative Agent
has also received such Swing Line Loan Notice and, if not, the Swing Line Lender
will notify the Administrative Agent (by telephone or in writing) of the
contents thereof.  Unless the Swing Line Lender has received notice
(by telephone or in writing) from the Administrative Agent (including at the
request of any Lender) prior to 2:00 p.m. on the date of the proposed Borrowing
of Swing Line Loans (A) directing the Swing Line Lender not to make such Swing
Line Loan as a result of the limitations set forth in the first proviso to the
first sentence of Section 2.04(a), or
(B) that one or more of the applicable conditions specified in Article V is not then
satisfied, then, subject to the terms and conditions hereof, the Swing Line
Lender will, not later than 3:00 p.m. on the 

    
      
         

      

      
        40

        
          

        

      

      
         

      

    

    borrowing
date specified in such Swing Line Loan Notice, make the amount of its Swing Line
Loan available to the Borrower.

    

    (c)           Refinancing of Swing Line
Loans.

    

    (i)          
 The Swing Line Lender at any time in its sole and absolute discretion may
request, on behalf of the Borrower (which hereby irrevocably requests and
authorizes the Swing Line Lender to so request on its behalf), that each Lender
make a Base Rate Loan in an amount equal to such Lender’s Applicable Percentage
of the amount of Swing Line Loans then outstanding.  Such request
shall be made in writing (which written request shall be deemed to be a Loan
Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without
regard to the minimum and multiples specified therein for the principal amount
of Base Rate Loans, but subject to the conditions set forth in Section 5.02 (other
than the delivery of a Loan Notice) and provided that, after giving effect to
such Borrowing, the Total Revolving Outstandings shall not exceed the Aggregate
Revolving Commitments.  The Swing Line Lender shall furnish the
Borrower with a copy of the applicable Loan Notice promptly after delivering
such notice to the Administrative Agent.  Each Lender shall make an
amount equal to its Applicable Percentage of the amount specified in such Loan
Notice available to the Administrative Agent in Same Day Funds for the account
of the Swing Line Lender at the Administrative Agent’s Office not later than
1:00 p.m. on the day specified in such Loan Notice, whereupon, subject to Section 2.04(c)(ii),
each Lender that so makes funds available shall be deemed to have made a Base
Rate Loan to the Borrower in such amount.  The Administrative Agent
shall remit the funds so received to the Swing Line Lender.

    

    (ii)         
  If for any reason any Swing Line Loan cannot be refinanced by such a
Borrowing of Revolving Loans in accordance with Section 2.04(c)(i),
the request for Base Rate Loans submitted by the Swing Line Lender as set forth
herein shall be deemed to be a request by the Swing Line Lender that each of the
Lenders fund its risk participation in the relevant Swing Line Loan and each
Lender’s payment to the Administrative Agent for the account of the Swing Line
Lender pursuant to Section 2.04(c)(i)
shall be deemed payment in respect of such participation.

    

    (iii)           If
any Lender fails to make available to the Administrative Agent for the account
of the Swing Line Lender any amount required to be paid by such Lender pursuant
to the foregoing provisions of this Section 2.04(c) by
the time specified in Section 2.04(c)(i),
the Swing Line Lender shall be entitled to recover from such Lender (acting
through the Administrative Agent), on demand, such amount with interest thereon
for the period from the date such payment is required to the date on which such
payment is immediately available to the Swing Line Lender at a rate per annum
equal to the applicable Overnight Rate from time to time in effect, plus any
administrative, processing or similar fees customarily charged by the Swing Line
Lender in connection with the foregoing.  A certificate of the Swing
Line Lender submitted to any Lender (through the Administrative Agent) with
respect to any amounts owing under this clause (iii) shall be conclusive absent
manifest error.

    

    (iv)          Each
Lender’s obligation to make Revolving Loans or to purchase and fund risk
participations in Swing Line Loans pursuant to this Section 2.04(c) shall
be absolute and unconditional and shall not be affected by any circumstance,
including (A) any setoff, counterclaim, recoupment, defense or other right that
such Lender may have against the Swing Line Lender, the Borrower or any other
Person for any reason whatsoever, (B) the occurrence or continuance of a
Default, or (C) any other occurrence, event or condition, whether or not similar
to any of the foregoing; provided, however, that each
Lender’s obligation to make Revolving Loans pursuant to this Section 2.04(c) is
subject to the conditions set forth in Section
5.02.  No 

    
      
         

      

      
        41

        
          

        

      

      
         

      

    

    such
purchase or funding of risk participations shall relieve or otherwise impair the
obligation of the Borrower to repay Swing Line Loans, together with interest as
provided herein.

    

    (d)           Repayment of
Participations.

    

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

    

    (ii)           
If any payment received by the Swing Line Lender in respect of principal or
interest on any Swing Line Loan is required to be returned by the Swing Line
Lender under any of the circumstances described in Section 11.05
(including pursuant to any settlement entered into by the Swing Line Lender in
its discretion), each Lender shall pay to the Swing Line Lender its Applicable
Percentage thereof on demand of the Administrative Agent, plus interest thereon
from the date of such demand to the date such amount is returned, at a rate per
annum equal to the Overnight Rate.  The Administrative Agent will make
such demand upon the request of the Swing Line Lender.  The
obligations of the Lenders under this clause shall survive the payment in full
of the Obligations and the termination of this Agreement.

    

    (e)           Interest for Account of
Swing Line Lender.  The Swing Line Lender shall be responsible
for invoicing the Borrower for interest on the Swing Line
Loans.  Until each Lender funds its Revolving Loans that are Base Rate
Loans or risk participation pursuant to this Section 2.04 to
refinance such Lender’s Applicable Percentage of any Swing Line Loan, interest
in respect of such Applicable Percentage shall be solely for the account of the
Swing Line Lender.

    

    (f)           Payments Directly to Swing
Line Lender.  The Borrower shall make all payments of principal
and interest in respect of the Swing Line Loans directly to the Swing Line
Lender.

    

    2.05         Prepayments.

    

    (a)           Voluntary
Prepayments.

    

    (i)        
   Revolving Loans and Term
Loan.  Subject to the last sentence of this Section 2.05(a)(i),
the Borrower may, upon notice from the Borrower to the Administrative Agent, at
any time or from time to time voluntarily prepay Revolving Loans, the Term Loan
and/or the Incremental Term Loan in whole or in part without premium or penalty;
provided that
(A) such notice must be received by the Administrative Agent not later than
11:00 a.m. (1) three Business Days prior to any date of prepayment of
Eurocurrency Rate Loans and (2) on the date of prepayment of Base Rate Loans;
(B) any such prepayment of Eurocurrency Rate Loans shall be in a principal
amount of $1,000,000 or a whole multiple of $500,000 in excess thereof (or, if
less, the entire principal amount thereof then outstanding); and (C) any
prepayment of Base Rate Loans shall be in a principal amount of $1,000,000 or a
whole multiple of $500,000 in excess thereof (or, if less, the entire principal
amount thereof then outstanding).  Each such notice shall specify the
date and amount of such prepayment and the Type(s) of Loans to be prepaid and
whether the Loans to be prepaid are the Revolving Loans, the Term Loan and/or
the Incremental Term Loan.  The Administrative Agent will promptly
notify each Lender of its receipt of each such notice, and of the amount of such
Lender’s Applicable Percentage of such prepayment.  If such notice is
given by the Borrower, the Borrower shall make such prepayment and the payment

    
      
         

      

      
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    amount
specified in such notice shall be due and payable on the date specified
therein.  Any prepayment of a Eurocurrency Rate Loan shall be
accompanied by all accrued interest on the amount prepaid, together with any
additional amounts required pursuant to Section
3.05.  Each such prepayment shall be applied to the Loans of
the Lenders in accordance with their respective Applicable
Percentages.  Each such prepayment of the Term Loan shall be applied
to the remaining principal amortization payments of the Term Loan in inverse
order of maturity until the Term Loan has
been paid in full.

    

    (ii)           
Swing Line
Loans.  The Borrower may, upon notice to the Swing Line Lender
(with a copy to the Administrative Agent), at any time or from time to time,
voluntarily prepay Swing Line Loans in whole or in part without premium or
penalty; provided that (i)
such notice must be received by the Swing Line Lender and the Administrative
Agent not later than 1:00 p.m. on the date of the prepayment, and (ii) any such
prepayment shall be in a minimum principal amount of $500,000 or a whole
multiple of $100,000 in excess thereof (or, if less, the entire principal
thereof then outstanding).  Each such notice shall specify the date
and amount of such prepayment.  If such notice is given by the
Borrower, the Borrower shall make such prepayment and the payment amount
specified in such notice shall be due and payable on the date specified
therein.

    

    (b)           Mandatory Prepayments of
Loans.

    

    (i)          
 Revolving
Commitments.  If for any reason the Total Revolving
Outstandings at any time exceed the Aggregate Revolving Commitments then in
effect, the Borrower shall immediately prepay Revolving Loans and/or the Swing
Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount
equal to such excess; provided, however, that the
Borrower shall not be required to Cash Collateralize the L/C Obligations
pursuant to this Section 2.05(b)(i)
unless after the prepayment in full of the Revolving Loans and the Swing Line
Loans the Total Revolving Outstandings exceed the Aggregate Revolving
Commitments then in effect.

    

    (ii)          
Dispositions.  The
Borrower shall prepay the Loans and/or Cash Collateralize the L/C Obligations as
hereafter provided in an aggregate amount equal to 100% of the Net Cash Proceeds
of all Dispositions to the extent such Net Cash Proceeds are not reinvested in
property that is used or useful in the same or similar line of business as the
Borrower and its Subsidiaries (including Corrpro and its Subsidiaries) were
engaged in on the Closing Date within 365 days of such
Disposition.  Any prepayment pursuant to this clause (ii) shall be
applied as set forth in clause (vii) below.

    

    (iii)          Debt
Issuances.  Immediately upon receipt by any Loan Party or any
Subsidiary of the Net Cash Proceeds of any Debt Issuance, the Borrower shall
prepay the Loans and/or Cash Collateralize the L/C Obligations as hereafter
provided in an aggregate amount equal to 100% of such Net Cash
Proceeds.  Any prepayment pursuant to this clause (iii) shall be
applied as set forth in clause (vii) below.

    

    (iv)          Equity
Issuances.  Immediately upon the receipt by any Loan Party or
any Subsidiary of the Net Cash Proceeds of any Equity Issuance, the Borrower
shall prepay the Loans and/or Cash Collateralize the L/C Obligations in an
aggregate amount equal to (A) 100% of such Net Cash Proceeds (if the
Consolidated Leverage Ratio as of the end of the fiscal quarter most recently
ended is greater than 2.0 to 1.0) or  (B) 50% of the Net Cash Proceeds
(if the Consolidated Leverage Ratio as of the end of  the fiscal
quarter most recently ended is less than or equal to 2.0 to 1.0 but greater than
or equal to 1.5 to 1.0); provided, however, if the
Consolidated Leverage Ratio as of the end of the fiscal quarter most recently
ended is less than 1.5 to 1.0, then the Borrower shall not be 

    
      
         

      

      
        43

        
          

        

      

      
         

      

    

    required
to make the foregoing prepayment.  Any prepayment pursuant to this
clause (iv) shall be applied as set forth in clause (vii) below.

    

    (v)           Excess Cash
Flow.  If the Consolidated Leverage Ratio is greater than 1.75
to 1.0 as of the end of any fiscal year of the Borrower, commencing with the
fiscal year ending December 31, 2009, then, within ninety days after the end of
each such fiscal year, the Borrower shall prepay the Loans and Cash
Collateralize the L/C Obligations with the percentage of Excess Cash Flow for
such fiscal year necessary to cause the Consolidated Leverage Ratio for such
fiscal year end to be equal to 1.75 to 1.0 after giving effect to such
prepayment.  Any prepayment pursuant to this clause (v) shall be
applied as set forth in clause (vii) below.

    

    (vi)          Extraordinary
Receipts.  Immediately upon the receipt by any Loan Party or
any Subsidiary of any Extraordinary Receipts, the Borrower shall prepay the
Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal
to 100% of such Extraordinary Receipts; provided, however, the Borrower
shall be permitted within 365 days of any Involuntary Disposition to reinvest
the proceeds from such Involuntary Disposition before having to make any
prepayment of the Loans with such Net Cash Proceeds pursuant to this Section
2.05(b)(vi).  Any prepayment pursuant to this clause (vi) shall
be applied as set forth in clause (vii) below.

    

    (vii)         Application of Mandatory
Prepayments.  All amounts required to be paid pursuant to this
Section 2.05(b)
shall be applied as follows:

    

    (A)           with
respect to all amounts prepaid pursuant to Section 2.05(b)(i),
to Revolving Loans and Swing Line Loans and (after all Revolving Loans and Swing
Line Loans have been repaid) to Cash Collateralize L/C Obligations;

    

    (B)           with
respect to all amounts prepaid pursuant to Sections 2.05(b)(ii),
(iii), (iv), (v) and (vi) first to the
Term Loan (to the remaining principal amortization payments of the Term Loan in
inverse order of maturity), then (after the Term Loan has been paid in full) to
the Revolving Loans and then (after all Revolving Loans have been repaid), if a
Default then exists, to Cash Collateralize L/C Obligations (without a
corresponding permanent reduction in the Aggregate Revolving
Commitments).

    

    
      	
               
      

            	
              Within
      the parameters of the applications set forth above, prepayments shall be
      applied first to Base Rate Loans and then to Eurocurrency Rate Loans in
      direct order of Interest Period maturities.  All prepayments
      under this Section 2.05(b)
      shall be subject to Section 3.05,
      but otherwise without premium or penalty, and shall be accompanied by
      interest on the principal amount prepaid through the date of
      prepayment.

            

    

    

    (viii)        Notwithstanding
clause (ii) above, in connection with any Disposition requiring a prepayment
pursuant to clause (ii) above (the amount of any such prepayment being referred
to herein as a “Disposition Prepayment
Amount”), the Borrower may offer the holders of the Senior Notes such
holder’s pro rata share of the Disposition Prepayment Amount.  To the
extent such offer to prepay is accepted by any such holders, the Disposition
Prepayment Amount shall be applied to the Loans (and, if applicable, if a
Default then exists, to Cash Collateralize the L/C Obligations) (in accordance
with Section
2.05(b)(vii)(B)) and the applicable Senior Notes on a pro rata
basis.

    

    (c)           If
the Administrative Agent notifies the Borrower at any time that the Outstanding
Amount of all Loans denominated in Alternative Currencies at such time exceeds
an amount equal to 105% of the Alternative Currency Sublimit then in effect,
then, within two Business Days after receipt of such notice,
the

    
      
         

      

      
        44

        
          

        

      

      
         

      

    

    Borrower
shall prepay Loans in an aggregate amount sufficient to reduce such Outstanding
Amount as of such date of payment to an amount not to exceed 100% of the
Alternative Currency Sublimit then in effect.

    

    2.06         Termination or Reduction of
Aggregate Revolving Commitments.

    

    (a)           Optional
Reductions.  The Borrower may, upon notice to the
Administrative Agent, terminate the Aggregate Revolving Commitments, or from
time to time permanently reduce the Aggregate Revolving Commitments to an amount
not less than the Outstanding Amount of Revolving Loans, Swing Line Loans and
L/C Obligations; provided that
(i) any such notice shall be received by the Administrative Agent not later
than 12:00 noon five (5) Business Days prior to the date of termination or
reduction, (ii) any such partial reduction shall be in an aggregate amount
of $2,000,000 or any whole multiple of $1,000,000 in excess thereof, and
(iii) the Borrower shall not terminate or reduce (A) the Aggregate
Revolving Commitments if, after giving effect thereto and to any concurrent
prepayments hereunder, the Total Revolving Outstandings would exceed the
Aggregate Revolving Commitments, (B) the Letter of Credit Sublimit if, after
giving effect thereto, the Outstanding Amount of L/C Obligations not fully Cash
Collateralized hereunder would exceed the Letter of Credit Sublimit, (C) the
Swing Line Sublimit if, after giving effect thereto and to and to any concurrent
prepayments hereunder, the Outstanding Amount of Swing Line
Loans  would exceed the Swing Line Sublimit and (D) the Alternative
Currency Sublimit if, after giving effect thereto and to any concurrent
prepayments hereunder, the Outstanding Amount of Loans denominated in an
Alternative Currency would exceed the Alternative Currency
Sublimit.

    

    (b)           Mandatory
Reductions.  If after giving effect to any reduction or
termination of Revolving Commitments under this Section 2.06, the
Letter of Credit Sublimit, the Swing Line Sublimit or the Alternative Currency
Sublimit exceeds the Aggregate Revolving Commitments at such time, the Letter of
Credit Sublimit, the Swing Line Sublimit or the Alternative Currency Sublimit,
as the case may be, shall be automatically reduced by the amount of such
excess.

    

    (c)           Notice.  The
Administrative Agent will promptly notify the Lenders of any termination or
reduction of the Letter of Credit Sublimit, the Swing Line Sublimit, the
Alternative Currency Sublimit or the Aggregate Revolving Commitments under this
Section
2.06.  Upon any reduction of the Aggregate Revolving
Commitments, the Revolving Commitment of each Lender shall be reduced by such
Lender’s Applicable Percentage of such reduction amount.  All fees in
respect of the Aggregate Revolving Commitments accrued until the effective date
of any termination of the Aggregate Revolving Commitments shall be paid on the
effective date of such termination.

    

    2.07         Repayment of
Loans.

    

    (a)           Revolving
Loans.  The Borrower shall repay to the Lenders on the Maturity
Date the aggregate principal amount of all Revolving Loans outstanding on such
date.

    

    (b)           Swing Line
Loans.  The Borrower shall repay each Swing Line Loan on the
earlier to occur of (i) the date within one (1) Business Day of demand therefor
by the Swing Line Lender and (ii) the Maturity Date.

    

    (c)           Term
Loan.  The Borrower shall repay the outstanding principal
amount of the Term Loan in installments on the dates and in the amounts set
forth in the table below (as such installments may hereafter be adjusted as a
result of prepayments made pursuant to Section 2.05), unless
accelerated sooner pursuant to Section
9.02:

     

     

    
      
        
        

      

      
        45

        
          

        

      

      
        
        

      

    

     

    
      
        	
                 

                 

                Payment
      Dates

              	
                Principal
      Amortization 

                Payment
      (% of the Term 

                Loan
      outstanding on the 

                Closing
      Date plus the 

                amount
      of Incremental 

                Term
      Loans)

              
	 
      	 
      
	
                June
      30, 2009

              	
                5.00%

              
	
                September
      30, 2009

              	
                5.00%

              
	
                December
      31, 2009

              	
                5.00%

              
	
                March
      31, 2010

              	
                5.00%

              
	
                June
      30, 2010

              	
                5.00%

              
	
                September
      30, 2010

              	
                5.00%

              
	
                December
      31, 2010

              	
                5.00%

              
	
                March
      31, 2011

              	
                5.00%

              
	
                June
      30, 2011

              	
                5.00%

              
	
                September
      30, 2011

              	
                5.00%

              
	
                December
      31, 2011

              	
                5.00%

              
	
                Maturity
      Date

              	
                Outstanding
      Principal 

                Balance
      of Term Loan

              

      

    

    

     

    2.08         Interest.

    

    (a)           Subject
to the provisions of subsection (b) below, (i) each Eurocurrency
Rate Loan shall bear interest on the outstanding principal amount thereof for
each Interest Period at a rate per annum equal to the sum of the Eurocurrency
Rate for such Interest Period plus the Applicable
Rate plus (in
the case of a Eurocurrency Rate Loan of any Lender which is lent from a Lending
Office in the United Kingdom or a Participating Member State) the Mandatory
Cost; (ii) each Base Rate Loan shall bear interest on the outstanding
principal amount thereof from the applicable borrowing date at a rate per annum
equal to the Base Rate plus the Applicable
Rate; and (iii) each Swing Line Loan shall bear interest on the outstanding
principal amount thereof from the applicable borrowing date at a rate per annum
equal to the Base Rate plus the Applicable Rate.

    

    (b)           (i)       
    If any amount of principal of any Loan is not paid when
due (without regard to any applicable grace periods), whether at stated
maturity, by acceleration or otherwise, such amount shall thereafter bear
interest at a fluctuating interest rate per annum at all times equal to the
Default Rate to the fullest extent permitted by applicable Laws.

    

    (ii)        
   If any amount (other than principal of any Loan) payable by
the Borrower under any Loan Document is not paid when due (without regard to any
applicable grace periods), whether at stated maturity, by acceleration or
otherwise, then such amount shall thereafter bear interest at a fluctuating
interest rate per annum at all times equal to the Default Rate to the fullest
extent permitted by applicable Laws.

    

    (iii)           Upon
the request of the Required Lenders, while any Event of Default exists, the
Borrower shall pay interest on the principal amount of all outstanding
Obligations hereunder at a fluctuating interest rate per annum at all times
equal to the Default Rate to the fullest extent permitted by applicable
Laws.

    
      
         

      

      
        46

        
          

        

      

      
         

      

    

    (iv)           Accrued
and unpaid interest on past due amounts (including interest on past due
interest) shall be due and payable upon demand.

    

    (c)           Interest
on each Loan shall be due and payable in arrears on each Interest Payment Date
applicable thereto and at such other times as may be specified
herein.  Interest hereunder shall be due and payable in accordance
with the terms hereof before and after judgment, and before and after the
commencement of any proceeding under any Debtor Relief Law.

    

    2.09         Fees.

    

    In
addition to certain fees described in subsections (i) and (j) of Section
2.03:

    

    (a)           Commitment
Fee.  The Borrower shall pay to the Administrative Agent, for
the account of each Lender in accordance with its Applicable Percentage, a
commitment fee (the “Commitment Fee”) at a rate per
annum equal to the product of (i) the Applicable Rate times (ii) the actual
daily amount by which the Aggregate Revolving Commitments exceed the sum of (y)
the Outstanding Amount of Revolving Loans and (z) the Outstanding Amount of L/C
Obligations. The Commitment Fee shall accrue at all times during the
Availability Period, including at any time during which one or more of the
conditions in Article
V is not met, and shall be due and payable quarterly in arrears on the
last Business Day of each March, June, September and December, commencing with
the first such date to occur after the Closing Date, and on the Maturity Date.
The Commitment Fee shall be calculated quarterly in arrears, and if there is any
change in the Applicable Rate during any quarter, the actual daily amount shall
be computed and multiplied by the Applicable Rate separately for each period
during such quarter that such Applicable Rate was in effect.  For
purposes of clarification, Swing Line Loans shall not be considered outstanding
for purposes of determining the unused portion of the Aggregate Revolving
Commitments.

    

    (b)           Fee
Letter.  The Borrower shall pay to BAS and the Administrative
Agent for their own respective accounts fees in the amounts and at the times
specified in the Fee Letter.  Such fees shall be fully earned when
paid and shall be non-refundable for any reason whatsoever.

    

    2.10         Computation of Interest and
Fees; Retroactive Adjustments of Applicable Rate.

    

    (a)           All
computations of interest for Base Rate Loans shall be made on the basis of a
year of 365 or 366 days, as the case may be, and actual days
elapsed.  All other computations of fees and interest shall be made on
the basis of a 360-day year and actual days elapsed (which results in more fees
or interest, as applicable, being paid than if computed on the basis of a
365-day year).  Interest shall accrue on each Loan for the day on
which the Loan is made, and shall not accrue on a Loan, or any portion thereof,
for the day on which the Loan or such portion is paid, provided that any
Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear
interest for one day.  Each determination by the Administrative Agent
of an interest rate or fee hereunder shall be conclusive and binding for all
purposes, absent manifest error.

    

    (b)           If,
as a result of any restatement of or other adjustment to the financial
statements of the Borrower or for any other reason, the Borrower or the Lenders
determine that (i) the Consolidated Leverage Ratio as calculated by the Borrower
as of any applicable date was inaccurate and (ii) a proper calculation of the
Consolidated Leverage Ratio would have resulted in higher pricing for such
period, the Borrower shall immediately and retroactively be obligated to pay to
the Administrative Agent for the account of the applicable Lenders or the L/C
Issuer, as the case may be, promptly on demand by the Administrative Agent (or,
after the occurrence of an actual or deemed entry of an order for relief
with

    
      
         

      

      
        47

        
          

        

      

      
         

      

    

    respect
to the Borrower under the Bankruptcy Code of the United States, automatically
and without further action by the Administrative Agent, any Lender or the L/C
Issuer), an amount equal to the excess of the amount of interest and fees that
should have been paid for such period over the amount of interest and fees
actually paid for such period.  This paragraph shall not limit the
rights of the Administrative Agent, any Lender or the L/C Issuer, as the case
may be, under Section
2.03(c)(iii), 2.03(i) or 2.08(b) or under
Article
IX.  The Borrower’s obligations under this paragraph shall
survive the termination of the Commitments of all of the Lenders and the
repayment of all other Obligations hereunder.

    

    2.11         Evidence of
Debt.

    

    (a)           The
Credit Extensions made by each Lender shall be evidenced by one or more accounts
or records maintained by such Lender and by the Administrative Agent in the
ordinary course of business.  The accounts or records maintained by
the Administrative Agent and each Lender shall be conclusive absent manifest
error of the amount of the Credit Extensions made by the Lenders to the Borrower
and the interest and payments thereon.  Any failure to so record or
any error in doing so shall not, however, limit or otherwise affect the
obligation of the Borrower hereunder to pay any amount owing with respect to the
Obligations.  In the event of any conflict between the accounts and
records maintained by any Lender and the accounts and records of the
Administrative Agent in respect of such matters, the accounts and records of the
Administrative Agent shall control in the absence of manifest
error.  Upon the request of any Lender made through the Administrative
Agent, the Borrower shall execute and deliver to such Lender (through the
Administrative Agent) a promissory note, which shall evidence such Lender’s
Loans in addition to such accounts or records.  Each such promissory
note shall (i) in the case of Revolving Loans, be in the form of Exhibit C (a “Revolving Note”),
(ii) in the case of Swing Line Loans, be in the form of Exhibit D (a “Swing Line Note”) and
(iii) in the case of the Term Loan, be in the form of Exhibit E (a “Term
Note”).  Each Lender may attach schedules to its Note and
endorse thereon the date, Type (if applicable), amount and maturity of its Loans
and payments with respect thereto.

    

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

    

    2.12         Payments Generally;
Administrative Agent’s Clawback.

    

    (a)           General.  
All payments to be made by the Borrower shall be made without condition or
deduction for any counterclaim, defense, recoupment or setoff.  Except
as otherwise expressly provided herein and except with respect to principal of
and interest on Loans denominated in an Alternative Currency, all payments by
the Borrower hereunder shall be made to the Administrative Agent, for the
account of the respective Lenders to which such payment is owed, at the
Administrative Agent’s Office in Dollars and in Same Day Funds not later than
2:00 p.m. on the date specified herein.  Except as otherwise
expressly provided herein, all payments by the Borrower hereunder with respect
to principal and interest on Loans denominated in an Alternative Currency shall
be made to the Administrative Agent, for the account of the respective Lenders
to which such payment is owed, at the Administrative Agent’s Office in such
Alternative Currency and in Same Day Funds not later than the Applicable Time
specified by the Administrative Agent on the dates specified
herein.  Without limiting the generality of the foregoing, the
Administrative Agent may require that any payments due under this Agreement be
made in the United States.  If, for any reason, the Borrower is
prohibited by any Law from making any required payment hereunder in an
Alternative Currency, the Borrower shall make such payment in Dollars in the
Dollar Equivalent of the Alternative Currency payment amount.  The
Administrative Agent will promptly 

    
      
         

      

      
        48

        
          

        

      

      
         

      

    

    distribute
to each Lender its Applicable Percentage (or other applicable share as provided
herein) of such payment in like funds as received by wire transfer to such
Lender’s Lending Office.  All payments received by the Administrative
Agent (i) after 2:00 p.m., in the case of payments in Dollars, or
(ii) after the Applicable Time specified by the Administrative Agent in the
case of payments in an Alternative Currency, shall in each case be deemed
received on the next succeeding Business Day and any applicable interest or fee
shall continue to accrue.  Subject to the definition of “Interest
Period”, if any payment to be made by the Borrower shall come due on a day other
than a Business Day, payment shall be made on the next following Business Day,
and such extension of time shall be reflected in computing interest or fees, as
the case may be.

    

    (b)          (i)     Funding by Lenders;
Presumption by Administrative Agent.  Unless the Administrative
Agent shall have received notice from a Lender prior to the proposed date of any
Borrowing of Eurocurrency Rate Loans (or, in the case of any Borrowing of Base
Rate Loans, prior to 12:00 noon on the date of such Borrowing) that such Lender
will not make available to the Administrative Agent such Lender’s share of such
Borrowing, the Administrative Agent may assume that such Lender has made such
share available on such date in accordance with Section 2.02 (or, in
the case of any Borrowing of Base Rate Loans, that such Lender has made such
share available in accordance with and at the time required by Section 2.02) and
may, in reliance upon such assumption, make available to the Borrower a
corresponding amount.  In such event, if a Lender has not in fact made
its share of the applicable Borrowing available to the Administrative Agent,
then the applicable Lender and the Borrower severally agree to pay to the
Administrative Agent forthwith on demand such corresponding amount in Same Day
Funds with interest thereon, for each day from and including the date such
amount is made available to the Borrower to but excluding the date of payment to
the Administrative Agent, at (A) in the case of a payment to be made by such
Lender, the Overnight Rate, plus any administrative, processing or similar fees
customarily charged by the Administrative Agent in connection with the foregoing
and (B) in the case of a payment to be made by the Borrower, the interest rate
applicable to Base Rate Loans.  If the Borrower and such Lender shall
pay such interest to the Administrative Agent for the same or an overlapping
period, the Administrative Agent shall promptly remit to the Borrower the amount
of such interest paid by the Borrower for such period.  If such Lender
pays its share of the applicable Borrowing to the Administrative Agent, then the
amount so paid shall constitute such Lender’s Loan included in such
Borrowing.  Any payment by the Borrower shall be without prejudice to
any claim the Borrower may have against a Lender that shall have failed to make
such payment to the Administrative Agent.

    

    (ii)           Payments by Borrower;
Presumptions by Administrative Agent.  Unless the
Administrative Agent shall have received notice from the Borrower prior to the
date on which any payment is due to the Administrative Agent for the account of
the Lenders or the L/C Issuer hereunder that the Borrower will not make such
payment, the Administrative Agent may assume that the Borrower has made such
payment on such date in accordance herewith and may, in reliance upon such
assumption, distribute to the Lenders or the L/C Issuer, as the case may be, the
amount due.  In such event, if the Borrower has not in fact made such
payment, then each of the Lenders or the L/C Issuer, as the case may be,
severally agrees to repay to the Administrative Agent forthwith on demand the
amount so distributed to such Lender or the L/C Issuer, in Same Day Funds with
interest thereon, for each day from and including the date such amount is
distributed to it to but excluding the date of payment to the Administrative
Agent, at the Overnight Rate.

    

    A notice
of the Administrative Agent to any Lender or the Borrower with respect to any
amount owing under this subsection (b) shall be conclusive, absent manifest
error.

     

           
(c)           Failure to
Satisfy Conditions Precedent.  If any Lender makes available to the
Administrative Agent funds for any Loan to be made by such Lender as provided in
the foregoing 

    
 

    
      
        
           

        

        
          49

          
            

          

        

        
           

        

      

    

    

    provisions
of this Article II, and such funds are not made available to the Borrower by the
Administrative Agent because the conditions to the applicable Credit Extension
set  forth in Article V are not satisfied or waived in accordance with
the terms hereof, the Administrative Agent shall return such funds (in like
funds as received from such Lender) to such Lender, without
interest.

    

    (d)           Obligations of Lenders
Several.  The obligations of the Lenders hereunder to make
Loans, to fund participations in Letters of Credit and Swing Line Loans and to
make payments pursuant to Section 11.04(c) are
several and not joint.  The failure of any Lender to make any Loan, to
fund any such participation or to make any payment under Section 11.04(c) on
any date required hereunder shall not relieve any other Lender of its
corresponding obligation to do so on such date, and no Lender shall be
responsible for the failure of any other Lender to so make its Loan, to purchase
its participation or to make its payment under Section
11.04(c).

    

    (e)           Funding
Source.  Nothing herein shall be deemed to obligate any Lender
to obtain the funds for any Loan in any particular place or manner or to
constitute a representation by any Lender that it has obtained or will obtain
the funds for any Loan in any particular place or manner.

    

    (f)           Insufficient
Funds.  If at any time insufficient funds are received by and
available to the Administrative Agent to pay fully all amounts of principal,
interest and fees then due hereunder, such funds shall be applied (i) first,
toward payment of interest and fees then due hereunder, ratably among the
parties entitled thereto in accordance with the amounts of interest and fees
then due to such parties, and (ii) second, toward payment of principal then due
hereunder, ratably among the parties entitled thereto in accordance with the
amounts of principal then due to such parties.

    

    2.13         Sharing of Payments by
Lenders.

    

    If any
Lender shall, by exercising any right of setoff or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of the Loans
made by it, or the participations in L/C Obligations or in Swing Line Loans held
by it (excluding any amounts applied by the Swing Line Lender to outstanding
Swing Line Loans and excluding any amounts received by the L/C Issuer and/or the
Swing Line Lender to secure the obligations of a Defaulting Lender or an
Impacted Lender to fund risk participations hereunder) resulting in such
Lender’s receiving payment of a proportion of the aggregate amount of such Loans
or participations and accrued interest thereon greater than its pro rata share thereof as
provided herein, then the Lender receiving such greater proportion shall (a)
notify the Administrative Agent of such fact, and (b) purchase (for cash at face
value) participations in the Loans and subparticipations in L/C Obligations and
Swing Line Loans of the other Lenders, or make such other adjustments as shall
be equitable, so that the benefit of all such payments shall be shared by the
Lenders ratably in accordance with the aggregate amount of principal of and
accrued interest on their respective Loans and other amounts owing them, provided
that:

    

    (i)        
   if any such participations or subparticipations are purchased
and all or any portion of the payment giving rise thereto is recovered, such
participations or subparticipations shall be rescinded and the purchase price
restored to the extent of such recovery, without interest; and

    

    (ii)           the
provisions of this Section shall not be construed to apply to (x) any payment
made by the Borrower pursuant to and in accordance with the express terms of
this Agreement or (y) any payment obtained by a Lender as consideration for the
assignment of or sale of a participation in any of its Loans or
subparticipations in L/C Obligations or Swing Line Loans to any
assignee or participant, other than to the Borrower or any Subsidiary thereof
(as to which the provisions of this Section shall
apply).

    
      
         

      

      
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    Each Loan
Party consents to the foregoing and agrees, to the extent it may effectively do
so under applicable law, that any Lender acquiring a participation pursuant to
the foregoing arrangements may exercise against such Loan Party rights of setoff
and counterclaim with respect to such participation as fully as if such Lender
were a direct creditor of such Loan Party in the amount of such
participation.

    

    ARTICLE
III

    

    TAXES,
YIELD PROTECTION AND ILLEGALITY

    

    3.01         Taxes.

    

    (a)           Payments Free of Taxes;
Obligation to Withhold; Payments on Account of Taxes.  (i) Any
and all payments by or on account of any obligation of the Loan Parties
hereunder or under any other Loan Document shall to the extent permitted by
applicable Laws be made free and clear of and without reduction or withholding
for any Taxes.  If, however, applicable Laws require the Borrower or
the Administrative Agent to withhold or deduct any Tax, such Tax shall be
withheld or deducted in accordance with such Laws as determined by the Borrower
or the Administrative Agent, as the case may be, upon the basis of the
information and documentation to be delivered pursuant to subsection (e)
below.

    
 

          
(ii)             If
the Borrower or the Administrative Agent shall be required by the Internal
Revenue Code to withhold or deduct any Taxes, including both United States
Federal backup withholding and withholding taxes, from any payment, then (A) the
Administrative Agent shall withhold or make such deductions as are determined by
the Administrative Agent to be required based upon the information and
documentation it has received pursuant to subsection (e) below, (B) the
Administrative Agent shall timely pay the full amount withheld or deducted to
the relevant Governmental Authority in accordance with the Internal Revenue
Code, and (C) to the extent that the withholding or deduction is made on account
of Indemnified Taxes or Other Taxes, the sum payable by the Borrower shall be
increased as necessary so that after any required withholding or the making of
all required deductions (including deductions applicable to additional sums
payable under this Section) the Administrative Agent, Lender or L/C Issuer, as
the case may be, receives an amount equal to the sum it would have received had
no such withholding or deduction been made.

    

    (b)           Payment of Other Taxes by
the Loan Parties.  Without limiting the provisions of
subsection (a) above, the Loan Parties shall timely pay any Other Taxes to the
relevant Governmental Authority in accordance with applicable Law.

    

    (c)           Tax
Indemnifications.  (i) Without limiting the provisions of
subsection (a) or (b) above, the Loan Parties shall, and do hereby, jointly and
severally, indemnify the Administrative Agent, each Lender and the L/C Issuer,
and shall make payment in respect thereof within 10 days after demand therefor,
for the full amount of any Indemnified Taxes or Other Taxes (including
Indemnified Taxes or Other Taxes imposed or asserted on or attributable to
amounts payable under this Section)  withheld or deducted by the
Borrower or the Administrative Agent or paid by the Administrative Agent, such
Lender or the L/C Issuer, as the case may be, and any penalties, interest and
reasonable expenses arising therefrom or with respect thereto, whether or not
such Indemnified Taxes or Other Taxes were correctly or legally imposed or
asserted by the relevant Governmental Authority.  The Loan Parties
shall also, and do hereby, jointly and severally, indemnify the Administrative
Agent, and shall make payment in respect thereof within 10 days after demand
therefore, for any amount which a Lender or the L/C Issuer for any reason fails
to pay indefeasibly to the Administrative Agent as required by clause (ii) of
this subsection.  A certificate as to the amount of any such payment or
liability delivered to the Borrower by a Lender or 

    
      
         

      

      
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    the L/C
Issuer (with a copy to the Administrative Agent), or by the Administrative Agent
on its own behalf or on behalf of a Lender or the L/C Issuer, shall be
conclusive absent manifest error.

    

           
(ii)           Without
limiting the provisions of subsection (a) or (b) above, each Lender and the L/C
Issuer shall, and does hereby, indemnify the Borrower and the Administrative
Agent, and shall make payment in respect thereof within 10 days after demand
therefor, against any and all Taxes and any and all related losses, claims,
liabilities, penalties, interest and expenses (including the fees, charges and
disbursements of any counsel for the Borrower or the Administrative Agent)
incurred by or asserted against the Borrower or the Administrative Agent by any
Governmental Authority as a result of the failure by such Lender or the L/C
Issuer, as the case may be, to deliver, or as a result of the inaccuracy,
inadequacy or deficiency of, any documentation required to be delivered by such
Lender or the L/C Issuer, as the case may be, to the Borrower or the
Administrative Agent pursuant to subsection (e).  Each Lender and the
L/C Issuer hereby authorizes the Administrative Agent to set off and apply any
and all amounts at any time owing to such Lender or the L/C Issuer, as the case
may be, under this Agreement or any other Loan Document against any amount due
to the Administrative Agent under this clause (ii).  The agreements in
this clause (ii) shall survive the resignation and/or replacement of the
Administrative Agent, any assignment of rights by, or the replacement of, a
Lender or the L/C Issuer, the termination of the Aggregate Commitments and the
repayment, satisfaction or discharge of all other Obligations.

    

    (d)           Evidence of
Payments.  Upon request by any Loan Party or the Administrative
Agent, as the case may be, after any payment of Taxes by any Loan Party or the
Administrative Agent to a Governmental Authority as provided in this Section 3.01, each
Loan Party shall deliver to the Administrative Agent or the Administrative Agent
shall deliver to the Borrower, as the case may be, the original or a certified
copy of a receipt issued by such Governmental Authority evidencing such payment,
a copy of any return required by Laws to report such payment or other evidence
of such payment reasonably satisfactory to the Borrower or the Administrative
Agent, as the case may be.

    

    (e)           Status of Lenders; Tax
Documentation.  (i) Each Lender shall deliver to the Borrower
and to the Administrative Agent, at the time or times prescribed by applicable
Laws or when reasonably requested by the Borrower or the Administrative Agent,
such properly completed and executed documentation prescribed by applicable Laws
or by the taxing authorities of any jurisdiction and such other reasonably
requested information as will permit the Borrower or the Administrative Agent,
as the case may be, to determine (A) whether or not payments made hereunder or
under any other Loan Documents are subject to Taxes, (B) if applicable, the
required rate of withholding or deduction, and (C) such Lender’s entitlement to
any available exemption from, or reduction of, applicable Taxes in respect of
all payments to be made to such Lender by the Borrower pursuant to this
Agreement or otherwise to establish such Lender’s status for withholding tax
purposes in the applicable jurisdiction.

    

    (ii)           Without
limiting the generality of the foregoing, if the Borrower is resident for tax
purposes in the United States,

    

    (A)           any
Lender that is a “United States person” within the meaning of Section
7701(a)(30) of the Internal Revenue Code shall deliver to the Borrower and the
Administrative Agent executed originals of Internal Revenue Service Form W-9 or
such other documentation or information prescribed by applicable Laws or
reasonably requested by the Borrower or the Administrative Agent as will enable
the Borrower or the Administrative Agent, as the case may be, to determine
whether or not such Lender is subject to backup withholding or information
reporting requirements; and

     

    

      (B)           each
Foreign Lender that is entitled under the Internal Revenue Code or any
applicable treaty to an exemption from or reduction of withholding tax with
respect to payments 

    

    
      
         

      

      
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    hereunder
or under any other Loan Document shall deliver to the Borrower and the
Administrative Agent (in such number of copies as shall  be requested
by the recipient) on or prior to the date on which such Foreign Lender becomes a
Lender under this Agreement (and from time to time thereafter upon the request
of the Borrower or the Administrative Agent, but only if such Foreign Lender is
legally entitled to do so), whichever of the following is
applicable:

    

    (I)           executed
originals of Internal Revenue Service Form W-8BEN claiming eligibility for
benefits of an income tax treaty to which the United States is a
party,

    

    (II)           executed
originals of Internal Revenue Service Form W-8ECI,

    

    (III)           executed
originals of Internal Revenue Service Form W-8IMY and all required supporting
documentation,

    

    (IV)           in
the case of a Foreign Lender claiming the benefits of the exemption for
portfolio interest under section 881(c) of the Internal Revenue Code, (x) a
certificate to the effect that such Foreign Lender is not (A) a “bank” within
the meaning of section 881(c)(3)(A) of the Internal Revenue Code, (B) a “10
percent shareholder” of the Borrower within the meaning of section 881(c)(3)(B)
of the Internal Revenue Code, or (C) a “controlled foreign corporation”
described in section 881(c)(3)(C) of the Internal Revenue Code and (y) executed
originals of  Internal Revenue Service Form W-8BEN, or

    

    (V)           executed
originals of any other form prescribed by applicable Laws as a basis for
claiming exemption from or a reduction in United States Federal withholding tax
duly completed together with such supplementary documentation as may be
prescribed by applicable law to permit the Borrower or the Administrative Agent
to determine the withholding or deduction required to be made.

    

    (iii)           Each
Lender shall promptly (A) notify the Borrower and the Administrative Agent of
any change in circumstances which would modify or render invalid any claimed
exemption or reduction, and (B) take such steps as shall not be materially
disadvantageous to it, in the reasonable judgment of such Lender, and as may be
reasonably necessary (including the re-designation of its Lending Office) to
avoid any requirement of applicable Laws of any jurisdiction that the Borrower
or the Administrative Agent make any withholding or deduction for taxes from
amounts payable to such Lender.

    

    (f)           Treatment of Certain
Refunds.  Unless required by applicable Laws, at no time shall
the Administrative Agent have any obligation to file for or otherwise pursue on
behalf of a Lender or the L/C Issuer, or have any obligation to pay to any
Lender or the L/C Issuer, any refund of Taxes withheld or deducted from funds
paid for the account of such Lender or the L/C Issuer, as the case may be. If
the Administrative Agent, any Lender or the L/C Issuer determines, in its sole
discretion, that it has received a refund of any Taxes or Other Taxes as to
which it has been indemnified by any Loan Party or with respect to which any
Loan Party has paid additional amounts pursuant to this Section, it shall pay to
such Loan Party an amount equal to such refund (but only to the extent of
indemnity payments made, or additional amounts paid, by such Loan Party under
this Section with respect to the Taxes or Other Taxes giving rise to such
refund), net of all out-of-pocket expenses incurred by the Administrative Agent,
such Lender or the L/C Issuer, as the case may be, and without interest (other
than any interest paid by the relevant Governmental Authority with respect to
such refund), provided that each
Loan Party, upon the request of the Administrative Agent, such Lender or the L/C
Issuer, agrees to repay the amount paid over to such Loan Party (plus any penalties,
interest or other charges imposed by the relevant Governmental Authority) to the
Administrative Agent, such Lender or the L/C Issuer in the event the
Administrative Agent, such Lender or the L/C Issuer is required to repay such
refund to such Governmental Authority.  

    
      
         

      

      
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    This
subsection shall not be construed to require the Administrative Agent, any
Lender or the L/C Issuer to make available its tax returns (or any other
information relating to its taxes that it deems confidential) to the Borrower or
any other Person.

    

    3.02         Illegality.

    

    If any
Lender determines that any Law has made it unlawful, or that any Governmental
Authority has asserted that it is unlawful, for any Lender or its applicable
Lending Office to make, maintain or fund Eurocurrency Rate Loans, or to
determine or charge interest rates based upon the Eurocurrency Rate, or any
Governmental Authority has imposed material restrictions on the authority of
such Lender to purchase or sell, or to take deposits of, Dollars in the London
interbank market, then, on notice thereof by such Lender to the Borrower through
the Administrative Agent, any obligation of such Lender to make or continue
Eurocurrency Rate Loans or to convert Base Rate Loans to Eurocurrency Rate Loans
or, if such notice relates to the unlawfulness or asserted unlawfulness of
charging interest based on the Eurocurrency Rate, to make Base Rate Loans as to
which the interest rate is determined with reference to the Eurocurrency Rate
shall be suspended until such Lender notifies the Administrative Agent and the
Borrower that the circumstances giving rise to such determination no longer
exist.  Upon receipt of such notice, the Borrower shall, upon demand from
such Lender (with a copy to the Administrative Agent), prepay or, if applicable,
convert all Eurocurrency Rate Loans of such Lender and Base Rate Loans as to
which the interest rate is determined with reference to the Eurocurrency Rate to
Base Rate Loans as to which the rate of interest is not determined with
reference to the Eurocurrency Rate, either on the last day of the Interest
Period therefor, if such Lender may lawfully continue to maintain such
Eurocurrency Rate Loans to such day, or immediately, if such Lender may not
lawfully continue to maintain such Eurocurrency Rate Loans or Base Rate
Loan.  Notwithstanding the foregoing and despite the illegality for such a
Lender to make, maintain or fund Eurocurrency Rate Loans or Base Rate Loans as
to which the interest rate is determined with reference to the Eurocurrency
Rate, that Lender shall remain committed to make Base Rate Loans and shall be
entitled to recover interest at the Base Rate.  Upon any such prepayment or
conversion, the Borrower shall also pay accrued interest on the amount so
prepaid or converted, but without liability under Section
3.05(a).

    

    3.03         Inability to Determine
Rates.

    

    If the
Required Lenders determine that for any reason in connection with any request
for a Loan or a conversion to or continuation thereof that (a) Dollar deposits
are not being offered to banks in the London interbank eurodollar market for the
applicable amount and Interest Period of such Loan, (b) adequate and reasonable
means do not exist for determining the Eurocurrency Rate for any requested
Interest Period with respect to a proposed Eurocurrency Rate Loan or in
connection with a Base Rate Loan, or (c) the Eurocurrency Rate for any requested
Interest Period with respect to a proposed Eurocurrency Rate Loan or in
connection with a Eurocurrency Rate Loan does not adequately and fairly reflect
the cost to the Lenders of funding such Loan, the Administrative Agent will
promptly notify the Borrower and all Lenders.  Thereafter, the obligation
of the Lenders to make or maintain Eurocurrency Rate Loans and Base Rate Loans
as to which the interest rate is determined with reference to the Eurocurrency
Rate shall be suspended until the Administrative Agent (upon the instruction of
the Required Lenders) revokes such notice.  Upon receipt of such notice,
the Borrower may revoke any pending request for a Borrowing of, conversion to or
continuation of Eurocurrency Rate Loans or, failing that, will be deemed to have
converted such request into a request for a Borrowing of Base Rate Loans in the
amount specified therein.

     

    3.04         Increased
Costs.

    
      

      (a)           Increased Costs
Generally.  If any Change in Law shall:

    

    
      
         

      

      
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    (i)         
  impose, modify or deem applicable any reserve, special deposit,
compulsory loan, insurance charge or similar requirement against assets of,
deposits with or for the account of, or credit extended or participated in by,
any Lender (except (A) any reserve requirement reflected in the
Eurocurrency Rate and (B) the requirements of the Bank of England and the
Financial Services Authority or the European Central Bank reflected in the
Mandatory Cost, other than as set forth below) or the L/C Issuer;

    

    (ii)           subject
any Lender or the L/C Issuer to any tax of any kind whatsoever with respect to
this Agreement, any Letter of Credit, any participation in a Letter of Credit or
any Eurocurrency Rate Loan made by it, or change the basis of taxation of
payments to such Lender or the L/C Issuer in respect thereof (except for
Indemnified Taxes or Other Taxes covered by Section 3.01 and the
imposition of, or any change in the rate of, any Excluded Tax payable by such
Lender or the L/C Issuer);

    

    (iii)           result
in the failure of the Mandatory Cost, as calculated hereunder, to represent the
cost to any Lender of complying with the requirements of the Bank of England
and/or the Financial Services Authority or the European Central Bank in relation
to its making, funding or maintaining Eurocurrency Rate Loans; or

    

    (iv)           impose
on any Lender or the L/C Issuer or the London interbank market any other
condition, cost or expense affecting this Agreement or Eurocurrency Rate Loans
made by such Lender or any Letter of Credit or participation
therein;

    

    and the
result of any of the foregoing shall be to increase the cost to such Lender of
making or maintaining any Eurocurrency Rate Loan (or of maintaining its
obligation to make any such Loan), or to increase the cost to such Lender or the
L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or
of maintaining its obligation to participate in or to issue any Letter of
Credit), or to reduce the amount of any sum received or receivable by such
Lender or the L/C Issuer hereunder (whether of principal, interest or any other
amount) then, upon request of such Lender or the L/C Issuer, the Borrower will
pay to such Lender or the L/C Issuer, as the case may be, such additional amount
or amounts as will compensate such Lender or the L/C Issuer, as the case may be,
for such additional costs incurred or reduction suffered.

    

    (b)           Capital
Requirements.  If any Lender or the L/C Issuer determines that
any Change in Law affecting such Lender or the L/C Issuer or any Lending Office
of such Lender or such Lender’s or the L/C Issuer’s holding company, if any,
regarding capital requirements has or would have the effect of reducing the rate
of return on such Lender’s or the L/C Issuer’s capital or on the capital of such
Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this
Agreement, the Commitments of such Lender or the Loans made by, or
participations in Letters of Credit held by, such Lender, or the Letters of
Credit issued by the L/C Issuer, to a level below that which such Lender or the
L/C Issuer or such Lender’s or the L/C Issuer’s holding company could have
achieved but for such Change in Law (taking into consideration such Lender’s or
the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s
holding company with respect to capital adequacy), then from time to time the
Borrower will pay to such Lender or the L/C Issuer, as the case may be, such
additional amount or amounts as will compensate such Lender or the L/C Issuer or
such Lender’s or the L/C Issuer’s holding company for any such reduction
suffered.  

     

    (c)           Certificates for
Reimbursement.  A certificate of a Lender or the L/C Issuer
setting forth the amount or amounts necessary to compensate such Lender or the
L/C Issuer or its holding company, as the case may be, as specified in
subsection (a) or (b) of this Section and delivered to the Borrower shall be

     

    
      
         

      

      
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     conclusive
absent manifest error.   The Borrower shall pay such Lender or the L/C
Issuer, as the case may be, the amount shown as due on any such certificate
within 10 days after receipt thereof.

    

    (d)           Delay in
Requests.  Failure or delay on the part of any Lender or the
L/C Issuer to demand compensation pursuant to the foregoing provisions of this
Section shall not constitute a waiver of such Lender’s or the L/C Issuer’s right
to demand such compensation, provided that the
Borrower shall not be required to compensate a Lender or the L/C Issuer pursuant
to the foregoing provisions of this Section for any increased costs incurred or
reductions suffered more than nine months prior to the date that such Lender or
the L/C Issuer, as the case may be, notifies the Borrower of the Change in Law
giving rise to such increased costs or reductions and of such Lender’s or the
L/C Issuer’s intention to claim compensation therefor (except that, if the
Change in Law giving rise to such increased costs or reductions is retroactive,
then the nine-month period referred to above shall be extended to include the
period of retroactive effect thereof).

    

    3.05         Compensation for
Losses.

    

    Upon
demand of any Lender (with a copy to the Administrative Agent) from time to
time, the Borrower shall promptly compensate such Lender for and hold such
Lender harmless from any loss, cost or expense incurred by it as a result
of:

    

    (a)           any
continuation, conversion, payment or prepayment of any Loan other than a Base
Rate Loan on a day other than the last day of the Interest Period for such Loan
(whether voluntary, mandatory, automatic, by reason of acceleration, or
otherwise);

    

    (b)           any
failure by the Borrower (for a reason other than the failure of such Lender to
make a Loan) to prepay, borrow, continue or convert any Loan other than a Base
Rate Loan on the date or in the amount notified by the Borrower;

    

    (c)           any
failure by the Borrower to make payment of any Loan (or interest due thereon)
denominated in an Alternative Currency on its scheduled due date or any payment
thereof in a different currency; or

    

    (d)           any
assignment of a Eurocurrency Rate Loan on a day other than the last day of the
Interest Period therefor as a result of a request by the Borrower pursuant to
Section
11.13;

    

    including
any loss of anticipated profits and any loss or expense arising from the
liquidation or reemployment of funds obtained by it to maintain such Loan or
from fees payable to terminate the deposits from which such funds were
obtained.  The Borrower shall also pay any customary administrative
fees charged by such Lender in connection with the foregoing.

    

    For
purposes of calculating amounts payable by the Borrower to the Lenders under
this Section
3.05, each Lender shall be deemed to have funded each Eurocurrency Rate
Loan made by it at the Eurocurrency Base Rate used in determining the
Eurocurrency Rate for such Loan by a matching deposit or other borrowing in the
London interbank eurodollar market for a comparable amount and for a comparable
period, whether or not such Eurocurrency Rate Loan was in fact so
funded.

     

    
      3.06         Mitigation Obligations;
Replacement of Lenders.

      

      (a)           Designation of a Different
Lending Office.  If any Lender requests compensation under
Section 3.04,
or the Borrower is required to pay any additional amount to any Lender, the L/C
Issuer or any Governmental Authority for the account of any Lender or the L/C
Issuer pursuant to Section 3.01, or

    

    
      
         

      

      
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    if any
Lender gives a notice pursuant to Section 3.02, then
such Lender or the L/C Issuer shall, as applicable, use reasonable efforts to
designate a different Lending Office for funding or booking its Loans hereunder
or to assign its rights and obligations hereunder to another of its offices,
branches or affiliates, if, in the judgment of such Lender or the L/C Issuer,
such designation or assignment (i) would eliminate or reduce amounts payable
pursuant to Section
3.01 or 3.04, as the case may
be, in the future, or eliminate the need for the notice pursuant to Section 3.02, as
applicable, and (ii) in each case, would not subject such Lender or the L/C
Issuer, as the case may be, to any unreimbursed cost or expense and would not
otherwise be disadvantageous to such Lender or the L/C Issuer, as the case may
be.  The Borrower hereby agrees to pay all reasonable costs and
expenses incurred by any Lender or the L/C Issuer in connection with any such
designation or assignment.

    

    (b)           Replacement of
Lenders.  If any Lender requests compensation under Section 3.04, or if
the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 3.01 or if
any Lender gives notice of its inability to make or continue Eurocurrency Rate
Loans pursuant to Section 3.02, the
Borrower may replace such Lender in accordance with Section
11.13.

    

    3.07         Survival.

    

    All of
the Borrower’s obligations under this Article III shall
survive termination of the Aggregate Revolving Commitments, repayment of all
other Obligations hereunder and resignation of the Administrative
Agent.

    

    ARTICLE
IV

    

    GUARANTY

    

    4.01         The
Guaranty.

    

    Each of
the Guarantors hereby jointly and severally guarantees to each Lender, each
Affiliate of a Lender that enters into a Swap Contract or a Treasury Management
Agreement with a Loan Party, and the Administrative Agent as hereinafter
provided, as primary obligor and not as surety, the prompt payment of the
Obligations in full when due (whether at stated maturity, as a mandatory
prepayment, by acceleration, as a mandatory cash collateralization or otherwise)
strictly in accordance with the terms thereof.  The Guarantors hereby
further agree that if any of the Obligations are not paid in full when due
(whether at stated maturity, as a mandatory prepayment, by acceleration, as a
mandatory cash collateralization or otherwise), the Guarantors will, jointly and
severally, promptly pay the same, without any demand or notice whatsoever, and
that in the case of any extension of time of payment or renewal of any of the
Obligations, the same will be promptly paid in full when due (whether at
extended maturity, as a mandatory prepayment, by acceleration, as a mandatory
cash collateralization or otherwise) in accordance with the terms of such
extension or renewal.

    

    Notwithstanding
any provision to the contrary contained herein or in any other of the Loan
Documents, Swap Contracts or Treasury Management Agreements, the obligations of
each Guarantor under this Agreement and the other Loan Documents shall be
limited to an aggregate amount equal to the largest amount that would not render
such obligations subject to avoidance under the Debtor Relief Laws or any
comparable provisions of any applicable state law.

     

    
      4.02         Obligations
Unconditional.

      

      The
obligations of the Guarantors under Section 4.01 are
joint and several, absolute and unconditional, irrespective of the value,
genuineness, validity, regularity or enforceability of any of the Loan

    

    
      
         

      

      
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    Documents,
Swap Contracts or Treasury Management Agreements, or any other agreement or
instrument referred to therein, or any substitution, release, impairment or
exchange of any other guarantee of or security for any of the Obligations, and,
to the fullest extent permitted by applicable law, irrespective of any law or
regulation or other circumstance whatsoever which might otherwise constitute a
legal or equitable discharge or defense of a surety or guarantor, it being the
intent of this Section
4.02 that the obligations of the Guarantors hereunder shall be absolute
and unconditional under any and all circumstances.  Each Guarantor
agrees that such Guarantor shall have no right of subrogation, indemnity,
reimbursement or contribution against the Borrower or any other Guarantor for
amounts paid under this Article IV until such
time as the Obligations (other than contingent indemnification obligations that
survive the termination of this Agreement) have been paid in full and the
Commitments have expired or terminated.  Without limiting the
generality of the foregoing, it is agreed that, to the fullest extent permitted
by law, the occurrence of any one or more of the following shall not alter or
impair the liability of any Guarantor hereunder, which shall remain absolute and
unconditional as described above:

    

    (a)           at
any time or from time to time, without notice to any Guarantor, the time for any
performance of or compliance with any of the Obligations shall be extended, or
such performance or compliance shall be waived;

    

    (b)           any
of the acts mentioned in any of the provisions of any of the Loan Documents, any
Swap Contract or Treasury Management Agreement between any Loan Party and any
Lender, or any Affiliate of a Lender, or any other agreement or instrument
referred to in the Loan Documents, such Swap Contracts or such Treasury
Management Agreements shall be done or omitted;

    

    (c)           the
maturity of any of the Obligations shall be accelerated, or any of the
Obligations shall be modified, supplemented or amended in any respect, or any
right under any of the Loan Documents, any Swap Contract or Treasury Management
Agreement between any Loan Party and any Lender, or any Affiliate of a Lender,
or any other agreement or instrument referred to in the Loan Documents, such
Swap Contracts or such Treasury Management Agreements shall be waived or any
other guarantee of any of the Obligations or any security therefor shall be
released, impaired or exchanged in whole or in part or otherwise dealt
with;

    

    (d)           any
Lien, if any, granted to, or in favor of, the Administrative Agent or any Lender
or Lenders as security for any of the Obligations shall fail to attach or be
perfected; or

    

    (e)           any
of the Obligations shall be determined to be void or voidable (including,
without limitation, for the benefit of any creditor of any Guarantor) or shall
be subordinated to the claims of any Person (including, without limitation, any
creditor of any Guarantor).

    

    With
respect to its obligations hereunder, each Guarantor hereby expressly waives
diligence, presentment, demand of payment, protest and all notices whatsoever,
and any requirement that the Administrative Agent or any Lender exhaust any
right, power or remedy or proceed against any Person under any of the Loan
Documents, any Swap Contract or any Treasury Management Agreement between any
Loan Party and any Lender, or any Affiliate of a Lender, or any other agreement
or instrument referred to in the Loan Documents, such Swap Contracts or such
Treasury Management Agreements, or against any other Person under any other
guarantee of, or security for, any of the Obligations.

     

    
      4.03         Reinstatement.

      

      The
obligations of the Guarantors under this Article IV shall be
automatically reinstated if and to the extent that for any reason any payment by
or on behalf of any Person in respect of the Obligations is rescinded or must be
otherwise restored by any holder of any of the Obligations, whether as a result
of any 

    

    
      
         

      

      
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    proceedings
in bankruptcy or reorganization or otherwise, and each Guarantor agrees
that it will indemnify the Administrative Agent and each Lender on demand for
all reasonable costs and expenses (including, without limitation, the fees,
charges and disbursements of counsel) incurred by the Administrative Agent or
such Lender in connection with such rescission or restoration, including any
such costs and expenses incurred in defending against any claim alleging that
such payment constituted a preference, fraudulent transfer or similar payment
under any bankruptcy, insolvency or similar law.

    

    4.04         Certain Additional
Waivers.

    

    Each
Guarantor agrees that such Guarantor shall have no right of recourse to security
for the Obligations, except through the exercise of rights of subrogation
pursuant to Section
4.02 and through the exercise of rights of contribution pursuant to Section
4.06.

    

    4.05         Remedies.

    

    The Guarantors agree that, to the
fullest extent permitted by law, as between the Guarantors, on the one hand, and
the Administrative Agent and the Lenders, on the other hand, the Obligations may
be declared to be forthwith due and payable as provided in Section 9.02 (and
shall be deemed to have become automatically due and payable in the
circumstances provided in said Section 9.02) for
purposes of Section
4.01 notwithstanding any stay, injunction or other prohibition preventing
such declaration (or preventing the Obligations from becoming automatically due
and payable) as against any other Person and that, in the event of such
declaration (or the Obligations being deemed to have become automatically due
and payable), the Obligations (whether or not due and payable by any other
Person) shall forthwith become due and payable by the Guarantors for purposes of
Section
4.01.

    

    4.06         Rights of
Contribution.

    

    The
Guarantors agree among themselves that, in connection with payments made
hereunder, each Guarantor shall have contribution rights against the other
Guarantors as permitted under applicable law.  Such contribution
rights shall be subordinate and subject in right of payment to the obligations
of such Guarantors under the Loan Documents and no Guarantor shall exercise such
rights of contribution until all Obligations (other than contingent
indemnification obligations that survive the termination of this Agreement) have
been paid in full and the Commitments have terminated.

    

    4.07         Guarantee of Payment;
Continuing Guarantee.

    

    The
guarantee in this Article IV is a
guaranty of payment and not of collection, is a continuing guarantee, and shall
apply to all Obligations whenever arising.

     

    ARTICLE
V

    

    CONDITIONS
PRECEDENT TO CREDIT EXTENSIONS

    

    5.01         Conditions of Initial Credit
Extension.

    

    This
Agreement shall become effective upon and the obligation of the L/C Issuer and
each Lender to make its initial Credit Extension hereunder is subject to
satisfaction of the following conditions precedent:

    

    (a)           Loan
Documents.  Receipt by the Administrative Agent of (i) executed
counterparts of this Agreement and the other Loan Documents, each properly
executed by a 

    
 

    
      
        
           

        

        
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    Responsible
Officer of the signing Loan Party and, in the case of this Agreement, by each
Lender and (ii) executed counterparts of the joinder agreement to the
Intercreditor Agreement properly executed by each Lender.

    

    (b)           Opinions of Counsel.
Receipt by the Administrative Agent of favorable opinions of legal counsel to
the Loan Parties, addressed to the Administrative Agent and each Lender, dated
as of the Closing Date, and in form and substance satisfactory to the
Administrative Agent.

    

    (c)           Financial
Statements.  The Administrative Agent shall have received the
Audited Financial Statements.

    

    (d)           No Material Adverse
Change.  There shall not have occurred a material adverse
change since December 31, 2008 in the business, assets, income, properties,
liabilities, operations, condition (financial or otherwise) or prospects of (i)
the Borrower and its Subsidiaries, taken as a whole or (ii) Corrpro and its
Subsidiaries, taken as a whole.

    

    (e)           Litigation.  There
shall not exist any action, suit, investigation or proceeding pending or
threatened in any court or before an arbitrator or Governmental Authority that
could reasonably be expected to have a Material Adverse Effect.

    

    (f)           Organization Documents,
Resolutions, Etc.  Receipt by the Administrative Agent of the
following, each of which shall be originals or facsimiles (followed promptly by
originals), in form and substance satisfactory to the Administrative Agent and
its legal counsel:

    

    (i)           copies
of the Organization Documents of each Loan Party certified to be true and
complete as of a recent date by the appropriate Governmental Authority of the
state or other jurisdiction of its incorporation or organization, where
applicable, and certified by a secretary or assistant secretary of such Loan
Party to be true and correct as of the Closing Date;

    

    (ii)           such
certificates of resolutions or other action, incumbency certificates and/or
other certificates of Responsible Officers of each Loan Party as the
Administrative Agent may require evidencing the identity, authority and capacity
of each Responsible Officer thereof authorized to act as a Responsible Officer
in connection with this Agreement and the other Loan Documents to which such
Loan Party is a party; and

    

    (iii)          such
documents and certifications as the Administrative Agent may reasonably require
to evidence that each Loan Party is duly organized or formed, and is validly
existing, in good standing and qualified to engage in business in its state of
organization or formation.

     

        (g)           Closing
Certificate.  Receipt by the Administrative Agent of a
certificate signed by a Responsible Officer of the Borrower certifying that (i)
the conditions specified in Sections 5.01(d) and
(e) and Sections 5.02(a) and
(b) have been
satisfied and (ii) the Borrower and its Subsidiaries are Solvent on a
consolidated basis (after giving effect to the transactions contemplated
hereby).

    

           
(h)           Consummation of the Corrpro
Acquisition.  Receipt by the Administrative Agent of
satisfactory evidence that the Corrpro Acquisition shall have been
simultaneously consummated on the Closing Date in compliance with applicable Law
and regulatory approvals and substantially in accordance with the Corrpro
Acquisition Documents.

    
      
         

      

      
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    (i)           Copy of Acquisition
Documents.  Receipt by the Administrative Agent of a copy,
certified by a Responsible Officer of the Borrower as true and complete, of the
Corrpro Acquisition Documents, together with all exhibits and schedules
thereto.

    

    (k)           Consents.  All
governmental, shareholder and third party consents (including Hart-Scott-Rodino
clearance, if required) and approvals necessary in connection with the Corrpro
Acquisition to avoid any material adverse impact on the Borrower, its
Subsidiaries or the Corrpro Acquisition, shall have been obtained; all such
consents and approvals shall be in force and effect; and all applicable waiting
periods shall have expired without any action being taken by any authority that
could restrain, prevent or impose any material adverse condition on the Corrpro
Acquisition or that could seek or threaten any of the foregoing, and no Law
shall be applicable which has, or could reasonably be expected to have, such
effect.

    

    (l)           Termination of Existing
Credit Agreement.  Receipt by the Administrative Agent of
evidence that the Existing Credit Agreement concurrently with the Closing Date
is being terminated and all Liens securing obligations under the Existing Credit
Agreement concurrently with the Closing Date are being released.

    

    (m)           Consolidated Leverage Ratio
and Consolidated EBITDA.  Receipt by the Administrative Agent
of satisfactory evidence that (i) the Consolidated Leverage Ratio (calculated on
a Pro Forma Basis after giving effect to the transactions contemplated hereby)
for the most recent twelve months ended prior to the Closing Date does not
exceed 1.75 to 1.0, (ii) the Consolidated EBITDA of Corrpro and its Subsidiaries
for the twelve month period ended December 31, 2008 was at least $14,000,000 and
(iii) the Consolidated EBITDA of Bayou and its Subsidiaries for the twelve month
period ended December 31, 2008 was at least $23,000,000.

    

    (j)           Fees.  Receipt
by the Administrative Agent, BAS and the Lenders of any fees required to be paid
on or before the Closing Date.

    

    (k)           Attorney
Costs.  Unless waived by the Administrative Agent, the Borrower
shall have paid all fees, charges and disbursements of counsel to the
Administrative Agent to the extent invoiced prior to or on the Closing Date,
plus such
additional amounts of such fees, charges and disbursements as shall constitute
its reasonable estimate of such fees, charges and disbursements incurred or to
be incurred by it through the closing proceedings (provided that such estimate
shall not thereafter preclude a final settling of accounts between the Borrower
and the Administrative Agent).

    

      (l)           Other.  Receipt
by the Administrative Agent and the Lenders of such other documents,
instruments, agreements and information as reasonably requested by the
Administrative Agent or any Lender, including, but not limited to, information
regarding litigation, tax, accounting, labor, insurance, pension liabilities
(actual or contingent), real estate leases, material contracts, debt agreements,
property ownership, environmental matters, contingent liabilities and management
of the Borrower and its Subsidiaries; such information may include, if requested
by the Administrative Agent, asset appraisal reports and written audits of
accounts receivable, inventory, payables, controls and systems.

       

      Without
limiting the generality of the provisions of the last paragraph of Section 11.04, for
purposes of determining compliance with the conditions specified in this Section 5.01, each
Lender that has signed this Agreement shall be deemed to have consented to,
approved or accepted or to be satisfied with, each document or other matter
required thereunder to be consented to or approved by or acceptable

    

    
      
         

      

      
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    or
satisfactory to a Lender unless the Administrative Agent shall have received
notice from such Lender prior to the proposed Closing Date specifying its
objection thereto.

    

    5.02         Conditions to all Credit
Extensions.

    

    The
obligation of each Lender to honor any Request for Credit Extension is subject
to the following conditions precedent:

    

    (a)           The
representations and warranties of the Borrower and each other Loan Party
contained in Article
VI or any other Loan Document, or which are contained in any document
furnished at any time under or in connection herewith or therewith, shall be
true and correct on and as of the date of such Credit Extension, except to the
extent that such representations and warranties specifically refer to an earlier
date, in which case they shall be true and correct as of such earlier date, and
except that for purposes of this Section 5.02, the
representations and warranties contained in subsections (a) and (b) of Section 6.05 shall be
deemed to refer to the most recent statements furnished pursuant to clauses (a)
and (b), respectively, of Section
7.01.

    

    (b)           No
Default shall exist, or would result from such proposed Credit Extension or from
the application of the proceeds thereof.

    

    (c)           The
Administrative Agent and, if applicable, the L/C Issuer and/or the Swing Line
Lender shall have received a Request for Credit Extension in accordance with the
requirements hereof.

    

    (d)           In
the case of a Credit Extension to be denominated in an Alternative Currency,
there shall not have occurred any change in national or international financial,
political or economic conditions or currency exchange rates or exchange controls
which in the reasonable opinion of the Administrative Agent or the Required
Lenders (in the case of any Loans to be denominated in an Alternative Currency)
would make it impracticable for such Credit Extension to be denominated in the
relevant Alternative Currency.

    

    Each Request for Credit Extension
submitted by the Borrower shall be deemed to be a representation and warranty
that the conditions specified in Sections 5.02(a) and
(b) have been
satisfied on and as of the date of the applicable Credit Extension.

     

    

      ARTICLE
VI

      

      REPRESENTATIONS
AND WARRANTIES

      

      The Loan
Parties represent and warrant to the Administrative Agent and the Lenders
that:

      

      6.01         Existence, Qualification and
Power.

      

      Each Loan
Party (a) is duly organized or formed, validly existing and in good standing
under the Laws of the jurisdiction of its incorporation or organization, (b) has
all requisite power and authority and all requisite governmental licenses,
authorizations, consents and approvals to (i) own or lease its assets and carry
on its business and (ii) execute, deliver and perform its obligations under the
Loan Documents to which it is a party, and (c) is duly qualified and is licensed
and in good standing under the Laws of each jurisdiction where its ownership,
lease or operation of properties or the conduct of its business requires such
qualification or license; except in each case referred to in clause (b)(i) or
(c), to the extent that failure to do so could not reasonably be expected to
have a Material Adverse Effect.

    

    
      
         

      

      
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    6.02         Authorization; No
Contravention.

    

    The
execution, delivery and performance by each Loan Party of each Loan Document to
which such Person is party have been duly authorized by all necessary corporate
or other organizational action, and do not (a) contravene the terms of any of
such Person’s Organization Documents; (b) conflict with or result in any breach
or contravention of, or the creation of any Lien under, or require any payment
to be made under (i) any Contractual Obligation to which such Person is a party
or affecting such Person or the properties of such Person or any of its
Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental
Authority or any arbitral award to which such Person or its property is subject;
or (c) violate any Law (including, without limitation, Regulation U or
Regulation X issued by the FRB).

    

    6.03         Governmental Authorization;
Other Consents.

    

    No
approval, consent, exemption, authorization, or other action by, or notice to,
or filing with, any Governmental Authority or any other Person is necessary or
required in connection with the execution, delivery or performance by, or
enforcement against, any Loan Party of this Agreement or any other Loan Document
other than (a) those that have already been obtained and are in full force and
effect and (b) those notices or filings required after the execution of this
Agreement with the SEC or the holders of the Senior Notes; provided, that such
notices and filings do not affect in any way the execution, delivery or
performance by, or enforcement against, the Loan Parties of this Agreement or
any other Loan Document.

    

    6.04         Binding
Effect.

    

    Each Loan
Document has been duly executed and delivered by each Loan Party that is party
thereto.  Each Loan Document constitutes a legal, valid and binding
obligation of each Loan Party that is party thereto, enforceable against each
such Loan Party in accordance with its terms.

    

    6.05         Financial Statements; No
Material Adverse Effect.

    

    (a)           The
Audited Financial Statements (i) were prepared in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise
expressly noted therein; (ii) fairly present the financial condition of the
Borrower and its Subsidiaries as of the date thereof and their
results of operations for the period covered thereby in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise
expressly noted therein; and (iii) show all material indebtedness and other
liabilities, direct or contingent, of the Borrower and its Subsidiaries as of
the date thereof, including liabilities for taxes, commitments and
Indebtedness.

      

      (b)           The
Interim Financial Statements (i) were prepared in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise
expressly noted therein; (ii) fairly present the financial condition of the
Borrower and its Subsidiaries as of the date thereof and their results of
operations for the period covered thereby, subject, in the case of clauses (i)
and (ii), to the absence of footnotes and to normal year-end audit adjustments;
and (iii) show all material indebtedness and other liabilities, direct or
contingent, of the Borrower and its Subsidiaries as of the date thereof,
including liabilities for taxes, material commitments and
Indebtedness.

      

      (c)           From
the date of the Audited Financial Statements to and including the Closing Date,
there has been no Disposition, other than the Bayou Acquisition and the Corrpro
Acquisition, by any Loan Party or any Subsidiary, or any Involuntary
Disposition, of any material part of the business or property of any Loan Party
or any Subsidiary, and no purchase or other acquisition by any of them of any
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    property
(including any Equity Interests of any other Person) material to any Loan Party
or any Subsidiary, in each case, which is not reflected in the foregoing
financial statements or in the notes thereto and has not otherwise been
disclosed in writing to the Lenders on or prior to the Closing
Date.

    

    (d)           The
financial statements delivered pursuant to Section 7.01(a) and
(b) have been
prepared in accordance with GAAP (except as may otherwise be permitted under
Section 7.01(a)
and (b)) and
present fairly (on the basis disclosed in the footnotes to such financial
statements) the consolidated financial condition, results of operations and cash
flows of the Borrower and its Subsidiaries as of the dates thereof and for the
periods covered thereby.

    

    (e)           Since
the date of the Audited Financial Statements, there has been no event or
circumstance, either individually or in the aggregate, that has had or could
reasonably be expected to have a Material Adverse Effect.

    

    6.06         Litigation.

    

    There are no actions, suits,
proceedings, claims or disputes pending or, to the knowledge of the Loan
Parties, threatened or contemplated, at law, in equity, in arbitration or before
any Governmental Authority, by or against any Loan Party or any of its
Subsidiaries or against any of their properties or revenues that (a) purport to
affect or pertain to this Agreement or any other Loan Document, or any of the
transactions contemplated hereby or (b) if determined adversely, could
reasonably be expected to have a Material Adverse Effect.

    

    6.07         No
Default.

    

    (a)           Neither
any Loan Party nor any Subsidiary is in default under or with respect to any
Contractual Obligation that could reasonably be expected to have a Material
Adverse Effect.

     

        (b)   No
Default has occurred and is continuing.  

    
      
      

    

    

    6.08         Ownership of Property;
Liens.

    

    Each of
Loan Party and its Subsidiaries has good record and marketable title in fee
simple to, or valid leasehold interests in, all real property necessary or used
in the ordinary conduct of its business, except
for such defects in title as could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.  The
property of each Loan Party and its Subsidiaries is subject to no Liens, other
than Permitted Liens.

      

      6.09         Environmental
Compliance.

      

      Except as could not reasonably be
expected to have a Material Adverse Effect:

      

      (a)           Each
of the Facilities and all operations at the Facilities are in compliance with
all applicable Environmental Laws, and there is no violation of any
Environmental Law with respect to the Facilities or the Businesses, and
neither any Loan Party nor any of its Subsidiaries, nor, to any Loan Party's
knowledge, any other Person, has caused any conditions relating to the
Facilities or the Businesses that could give rise to liability under any
applicable Environmental Laws.

      

      (b)           None
of the Facilities contains, and neither any Loan Party nor any of its
Subsidiaries, nor, to any Loan Party's knowledge, any other Person, caused
any of the Facilities to have previously contained, any Hazardous Materials at,
on or under the Facilities in amounts or 

    

    
      
         

      

      
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    concentrations that
constitute or constituted a violation of, or could give rise to liability under,
Environmental Laws.

    

    (c)           Neither
any Loan Party nor any Subsidiary has received any written or verbal notice of,
or inquiry from any Governmental Authority regarding, any violation, alleged
violation, non-compliance, liability or potential liability regarding
environmental matters or compliance with Environmental Laws with regard to any
of the Facilities or the Businesses, nor does any Responsible Officer of any
Loan Party have knowledge or reason to believe that any such notice will be
received or is being threatened.

    

    (d)           Hazardous
Materials have not been transported or disposed of from the Facilities, or
generated, treated, stored or disposed of at, on or under any of the Facilities
or any other location, in each case by or on behalf of any Loan Party or any
Subsidiary in violation of, or in a manner that would be reasonably likely to
give rise to liability under, any applicable Environmental Law.

    

    (e)           No
judicial proceeding or governmental or administrative action is pending or, to
the knowledge of the Loan Parties, threatened, under any Environmental Law to
which any Loan Party or any Subsidiary is or will be named as a party, nor are
there any consent decrees or other decrees, consent orders, administrative
orders or other orders, or other administrative or judicial requirements
outstanding under any Environmental Law with respect to any Loan Party, any
Subsidiary, the Facilities or the Businesses.

    

    (f)           There
has been no release or threat of release of Hazardous Materials at or from the
Facilities, or arising from or related to the operations (including, without
limitation, disposal) of any Loan Party or any Subsidiary in connection with the
Facilities or otherwise in connection with the Businesses, in violation of or in
amounts or in a manner that could give rise to liability under Environmental
Laws.

    

    6.10         Insurance.

    

    The
properties of the Loan Parties and their Subsidiaries are insured with
financially sound and reputable insurance companies not Affiliates of such
Persons, in such amounts, with such deductibles and covering such risks as are
customarily carried by companies engaged in similar businesses and owning
similar properties in localities where the applicable Loan Party or the
applicable Subsidiary operates.

     

    
      

      6.11         Taxes.

      

      The Loan
Parties and their Subsidiaries have filed all federal, state and other material
tax returns and reports required to be filed, and have paid all federal, state
and other material taxes, assessments, fees and other governmental charges
levied or imposed upon them or their properties, income or assets otherwise due
and payable, except those which are being contested in good faith by appropriate
proceedings diligently conducted and for which adequate reserves have been
provided in accordance with GAAP.  There is no proposed tax assessment
against any Loan Party or any Subsidiary that would, if made, have a Material
Adverse Effect.  Neither any Loan Party nor any Subsidiary thereof is
party to any tax sharing agreement.

      

      6.12         ERISA
Compliance.

      

      (a)           Except
as could not reasonably be excepted to have a Material Adverse Effect, (i) each
Plan is in compliance in all material respects with the applicable provisions of
ERISA, the Internal Revenue Code and other federal or state Laws, (ii) each Plan
that is intended to qualify under Section 

    

    
      
         

      

      
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    401(a) of
the Internal Revenue Code has received a favorable determination letter
from the IRS or an application for such a letter is currently being processed by
the IRS with respect thereto and, to the best knowledge of the Loan Parties,
nothing has occurred which would prevent, or cause the loss of, such
qualification and (iii) each Loan Party and each ERISA Affiliate have made all
required contributions to each Plan subject to Section 412, Section 430 or
Section 431 of the Internal Revenue Code, and no application for a funding
waiver or an extension of any amortization period pursuant to Section 412,
Section 430 or Section 431 of the Internal Revenue Code has been made with
respect to any Plan.

    

    (b)           There
are no pending or, to the best knowledge of the Loan Parties, threatened claims,
actions or lawsuits, or action by any Governmental Authority, with respect to
any Plan that could be reasonably be expected to have a Material Adverse
Effect.  There has been no prohibited transaction or violation of the
fiduciary responsibility rules with respect to any Plan that has resulted or
could reasonably be expected to result in a Material Adverse
Effect.

    

    (c)           Except
as could not reasonably be expected to have a Material Adverse Effect,
(i)  No ERISA Event has occurred or is reasonably expected to occur;
(ii) the minimum required contribution (as defined in Section 430(a) of the
Internal Revenue Code) has been made for each Pension Plan; (iii) no Loan Party
or any ERISA Affiliate has incurred, or reasonably expects to incur, any
liability under Title IV of ERISA with respect to any Pension Plan (other than
premiums due and not delinquent under Section 4007 of ERISA); (iv) no Loan Party
or any ERISA Affiliate has incurred, or reasonably expects to incur, any
liability (and no event has occurred which, with the giving of notice under
Section 4219 of ERISA, would result in such liability) under Sections 4201 or
4243 of ERISA with respect to a Multiemployer Plan; and (v) no Loan Party or any
ERISA Affiliate has engaged in a transaction that could be subject to Section
4069 or 4212(c) of ERISA.

    

    6.13         Subsidiaries.

    

    Set forth
on Schedule
6.13 is a complete and accurate list as of the Closing Date of each
Subsidiary of any Loan Party, together with (i) jurisdiction of formation, (ii)
number of shares or percentage of each class of Equity Interests outstanding,
(iii) number or percentage of outstanding shares of each class owned (directly
or indirectly) by any Loan Party or any Subsidiary and (iv) number and effect,
if exercised, of all outstanding options, warrants, rights of conversion or
purchase and all other similar rights with respect thereto.  The
outstanding Equity Interests of each Subsidiary of any Loan Party is validly
issued, fully paid and non-assessable.

     

    
      

      6.14         Margin Regulations;
Investment Company Act.

      

      (a)           The
Borrower is not engaged and will not engage, principally or as one of its
important activities, in the business of purchasing or carrying margin stock
(within the meaning of Regulation U issued by the FRB), or extending credit for
the purpose of purchasing or carrying margin stock.  Following the
application of the proceeds of each Borrowing or drawing under each Letter of
Credit, not more than 25% of the value of the assets (either of the Borrower
only or of the Borrower and its Subsidiaries on a consolidated basis) subject to
the provisions of Section 8.01 or Section 8.05 or
subject to any restriction contained in any agreement or instrument between the
Borrower and any Lender or any Affiliate of any Lender relating to Indebtedness
and within the scope of Section 9.01(e) will
be margin stock.

      

      (b)           None
of any Loan Party, any Person Controlling any Loan Party, or any Subsidiary is
or is required to be registered as an “investment company” under the Investment
Company Act of 1940.

    

    
      
         

      

      
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    6.15         Disclosure.

    

    Each Loan
Party has disclosed to the Administrative Agent and the Lenders all agreements,
instruments and corporate or other restrictions to which it or any of its
Subsidiaries is subject, and all other matters known to it, that, individually
or in the aggregate, could reasonably be expected to result in a Material
Adverse Effect.  No report, financial statement, certificate or other
information (including the Information Memorandum) furnished (whether in
writing or orally) by or on behalf of any Loan Party to the Administrative Agent
or any Lender in connection with the transactions contemplated hereby and the
negotiation of this Agreement or delivered hereunder or under any other Loan
Document (in each case, as modified or supplemented by other information so
furnished) contains any material misstatement of fact or omits to state any
material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided that, with
respect to projected financial information, the Loan Parties represent only that
such information was prepared in good faith based upon assumptions believed to
be reasonable at the time.

    

    6.16         Compliance with
Laws.

    

    Each Loan
Party and each Subsidiary is in compliance with the requirements of all Laws and
all orders, writs, injunctions and decrees applicable to it or to its
properties, except in such instances in which (a) such requirement of Law or
order, writ, injunction or decree is being contested in good faith by
appropriate proceedings diligently conducted or (b) the failure to comply
therewith could not reasonably be expected to have a Material Adverse
Effect.

    

    6.17         Intellectual Property;
Licenses, Etc.

    

    Each Loan
Party and its Subsidiaries own, or possess the legal right to use, all of the
trademarks, service marks, trade names, copyrights, patents, patent rights,
franchises, licenses and other intellectual property rights (collectively,
“IP Rights”)
that are reasonably necessary for the operation of their respective
businesses.  Except for such claims and infringements that could not
reasonably be expected to have a Material Adverse Effect, no claim has been
asserted and is pending by any Person challenging or questioning the use of any
IP Rights or the validity or effectiveness of any IP Rights, nor does any Loan
Party know of any such claim, and, to the knowledge of the Loan Parties, the use
of any IP Rights by any Loan Party or any of its Subsidiaries or the granting of
a right or a license in respect of any IP Rights from any Loan Party or any of
its Subsidiaries does not infringe on the rights of any
Person.
 

    
      6.18         Solvency.

      

      The Loan
Parties are Solvent on a consolidated basis.

      

      6.19         Labor
Matters.

      

      Except as
set forth on Schedule
6.19, there are no collective bargaining agreements or Multiemployer
Plans covering the employees of any Loan Party or any Subsidiary as of the
Closing Date and neither any Loan Party nor any Subsidiary has suffered any
strikes, walkouts, work stoppages or other material labor difficulty within the
last five years.

      

      6.20         Bonding
Capacity.

      

      The
Borrower and its Subsidiaries have in place and available to them surety and
performance bonds adequate in amount and credit quality to continue in the
ordinary course of their business as presently projected over the course of the
next eighteen (18) months.

    

    
      
         

      

      
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    ARTICLE
VII

    

    AFFIRMATIVE
COVENANTS

    

    So long as any Lender shall have any
Commitment hereunder, any Loan or other Obligation (other than contingent
indemnification obligations that survive the termination of this Agreement)
hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall
remain outstanding, the Loan Parties shall and shall cause each Subsidiary
to:

    

    7.01         Financial
Statements.

    

    Deliver
to the Administrative Agent and each Lender, in form and detail satisfactory to
the Administrative Agent and the Required Lenders:

    

    (a)           upon
the earlier of the date that is ninety days after the end of each fiscal year of
the Borrower or the date such information is filed with the SEC, a consolidated
balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal
year, and the related consolidated statements of income or operations, changes
in shareholders’ equity and cash flows for such fiscal year, setting forth in
each case in comparative form the figures for the previous fiscal year, all in
reasonable detail and prepared in accordance with GAAP, audited and accompanied
by a report and opinion of an independent certified public accountant of
nationally recognized standing reasonably acceptable to the Required Lenders,
which report and opinion shall be prepared in accordance with generally accepted
auditing standards and shall not be subject to any “going concern” or like
qualification or exception or any qualification or exception as to the scope of
such audit; and

    

    (b)           upon
the earlier of the date that is forty-five days after the end of each of the
first three fiscal quarters of each fiscal year of the Borrower or the date such
information is filed with the SEC, a consolidated balance sheet of the Borrower
and its Subsidiaries as at the end of such fiscal quarter, and the related
consolidated statements of income or operations, changes in shareholders’ equity
and cash flows for such fiscal quarter and for the portion of the Borrower’s
fiscal year then ended, setting forth in each case in comparative form the
figures for the corresponding fiscal quarter of the previous fiscal year and the
corresponding portion of the previous fiscal year, all in reasonable detail and
certified by a Responsible Officer of the Borrower
as fairly presenting the financial condition, results of operations,
shareholders’ equity and cash flows of the Borrower and its Subsidiaries in
accordance with GAAP, subject only to normal year-end audit adjustments and the
absence of footnotes. 

     

    7.02         Certificates; Other
Information.

    

    Deliver
to the Administrative Agent and each Lender, in form and detail satisfactory to
the Administrative Agent and the Required Lenders:

    

    (a)           a
duly completed Compliance Certificate signed by a Responsible Officer of the
Borrower (i) within ninety days after the end of each fiscal year of the
Borrower with respect to the Compliance Certificate for the financial statements
required to be delivered pursuant to Section 7.01(a), and
(ii) within forty-five days after the end of each fiscal quarter of the Borrower
with respect to the Compliance Certificate for the financial statements required
to be delivered pursuant to Section 7.01(b), in
each case, together with a job status report for each domestic project of the
Borrower and its Subsidiaries;

    
      
         

      

      
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    (b)           prior
to the date that is 30 days after the beginning of each fiscal year of the
Borrower, beginning with the fiscal year ending December 31, 2010, an annual
business plan and budget of the Borrower and its Subsidiaries containing, among
other things, pro forma financial statements for each quarter of such fiscal
year;

    

    (c)           promptly
after the same are available, copies of each annual report, proxy or financial
statement or other report or communication sent to the equityholders of any Loan
Party, and copies of all annual, regular, periodic and special reports and
registration statements which a Loan Party may file or be required to file with
the SEC under Section 13 or 15(d) of the Securities Exchange Act of 1934, and
not otherwise required to be delivered to the Administrative Agent pursuant
hereto;

    

    (d)           concurrently
with the delivery of the financial statements referred to in Sections 7.01(a) and
(b), a
certificate of a Responsible Officer of the Borrower containing information
regarding the amount of all Dispositions, Involuntary Dispositions, Debt
Issuances, Equity Issuances and Acquisitions that occurred during the period
covered by such financial statements;

    

    (e)           promptly
after any request by the Administrative Agent or any Lender, copies of any
detailed audit reports, management letters or recommendations submitted to the
board of directors (or the audit committee of the board of directors) of the
Borrower by independent accountants in connection with the accounts or books of
the Borrower or any Subsidiary, or any audit of any of them; provided, however, that if any
such report, letter or recommendation is prepared by the Borrower’s independent
accountants, the Person requesting such information shall first execute any
release or similar authorization reasonably requested by the Borrower’s
independent accountants;

    

    (f)           promptly
after the furnishing thereof, copies of any statement or report furnished to any
holder of debt securities of any Loan Party thereof or any holder of the Senior
Notes pursuant to the terms of any indenture, loan or credit or similar
agreement and not otherwise required to be furnished to the Lenders pursuant to
Section 7.01 or
any other clause of this Section
7.02;

    

    (g)           promptly,
and in any event within five Business Days after receipt thereof by any Loan
Party or any Subsidiary thereof, copies of each notice or other correspondence
received  from the
SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning
any investigation or possible investigation or other inquiry by such agency
regarding financial or other operational results of any Loan Party or any
Subsidiary thereof; and

      

      (h)           promptly,
such additional information regarding the business, financial or corporate
affairs of any Loan Party or any Subsidiary, or compliance with the terms of the
Loan Documents, as the Administrative Agent or any Lender may from time to time
reasonably request.

      

      Documents
required to be delivered pursuant to Section 7.01(a) or
(b) or Section 7.02 (to the
extent any such documents are included in materials otherwise filed with the
SEC) may be delivered electronically and if so delivered, shall be deemed to
have been delivered on the date (i) on which the Borrower posts such documents,
or provides a link thereto on the Borrower’s website on the Internet at the
website address listed on Schedule 11.02; or
(ii) on which such documents are posted on the Borrower’s behalf on an Internet
or intranet website,
if any, to which each Lender and the Administrative Agent have access (whether a
commercial, third-party website or whether sponsored by the 

       

    

    
      
         

      

      
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      Administrative
Agent); provided that: (i)
the Borrower shall deliver paper copies of such documents to the Administrative
Agent or any Lender that requests the Borrower to deliver such paper copies
until a written request to cease delivering paper copies is given by the
Administrative Agent or such Lender and (ii) the Borrower shall notify the
Administrative Agent and each Lender (by telecopier or electronic mail) of the
posting of any such documents and provide to the Administrative Agent by
electronic mail electronic versions (i.e., soft copies) of
such documents.  Notwithstanding anything contained herein, in every
instance the Borrower shall be required to provide paper copies of the
Compliance Certificates required by Section 7.02(a) to
the Administrative Agent.  Except for such Compliance Certificates,
the Administrative Agent shall have no obligation to request the delivery or to
maintain copies of the documents referred to above, and in any event shall have
no responsibility to monitor compliance by the Borrower with any such request
for delivery, and each Lender shall be solely responsible for requesting
delivery to it or maintaining its copies of such documents.

      

      The
Borrower hereby acknowledges that (a) the Administrative Agent and/or BAS will
make available to the Lenders and the L/C Issuer materials and/or information
provided by or on behalf of the Borrower hereunder (collectively, the “Borrower Materials”)
by posting the Borrower Materials on IntraLinks or another similar electronic
system (the “Platform”) and (b)
certain of the Lenders (each, a  “Public Lender”) may
have personnel who do not wish to receive material non-public information with
respect to the Borrower or its Affiliates, or the respective securities of any
of the foregoing, and who may be engaged in investment and other market-related
activities with respect to such Person’s securities.  The Borrower
hereby agrees that (w) all Borrower Materials that are to be made available to
Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a
minimum, shall mean that the word “PUBLIC” shall appear prominently on the first
page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower shall be
deemed to have authorized the Administrative Agent, BAS and the Lenders to treat
such Borrower Materials as not containing any material non-public information
with respect to the Borrower or its securities for purposes of United States
federal and state securities laws (provided, however, that to the
extent such Borrower Materials constitute Information, they shall be treated as
set forth in Section
11.07); (y) all Borrower Materials marked “PUBLIC” are permitted to be
made available through a portion of the Platform designated as “Public Side
Information;” and (z) the Administrative Agent and BAS shall be entitled to
treat any Borrower Materials that are not marked “PUBLIC” as being suitable only
for posting on a portion of the Platform that is not designated as “Public Side
Information.”  Notwithstanding the foregoing, the Borrower shall be
under no Obligation to mark any borrower Materials
“PUBLIC”.
 

    

    7.03         Notices.

    

    (a)           Promptly
(and in any event, within two Business Days of any Responsible Officer of a Loan
Party becoming aware of the occurrence thereof) notify the Administrative Agent
and each Lender of the occurrence of any Default.

    

    (b)           Promptly
(and in any event, within five Business Days of any Responsible
Officer  of any Loan Party becoming aware of the occurrence thereof)
notify the Administrative Agent and each Lender of any matter that has resulted
or could reasonably be expected to result in a Material Adverse Effect,
including (i) breach or non-performance of, or any default under, a Contractual
Obligation of any Loan Party or any Subsidiary; (ii) any dispute, litigation,
investigation, proceeding or suspension between any Loan Party or any Subsidiary
and any Governmental Authority; or (iii) the commencement of, or any material
development in, any litigation or proceeding affecting any Loan Party or any
Subsidiary, including pursuant to any applicable Environmental
Laws.

     

    
 

    
      
        
        

      

      
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    (c)           Promptly
(and in any event, within five Business Days of any Responsible
Officer  of any Loan Party becoming aware of the occurrence thereof)
notify the Administrative Agent and each Lender of the occurrence of any ERISA
Event.

    

    (d)           Promptly
(and in any event, within five Business Days of any Responsible
Officer  of any Loan Party becoming aware of the occurrence thereof)
notify the Administrative Agent and each Lender of any material change in
accounting policies or financial reporting practices by the Borrower or any
Subsidiary, other than changes specified by GAAP, including any determination by
the Borrower referred to in Section
2.10(b).

    

    (e)           Upon
the reasonable written request of the Administrative Agent following the
occurrence of any event or the discovery of any condition which the
Administrative Agent or the Required Lenders reasonably believe has caused (or
could be reasonably expected to cause) the representations and warranties set
forth in Section
6.09 to be untrue in any material respect, furnish or cause to be
furnished to the Administrative Agent, at the Loan Parties’ expense, a report of
an environmental assessment of reasonable scope, form and depth, (including,
where appropriate, invasive soil or groundwater sampling) by a consultant
reasonably acceptable to the Administrative Agent as to the nature and extent of
the presence of any Materials of Environmental Concern on any Real Properties
(as defined in Section
6.09) and as to the compliance by any Loan Party or any of its
Subsidiaries with Environmental Laws at such Real Properties.  If the
Loan Parties fail to deliver such an environmental report within seventy-five
(75) days after receipt of such written request then the Administrative Agent
may arrange for the same, and the Loan Parties hereby grant to the
Administrative Agent and its representatives access to the Real Properties to
reasonably undertake such an assessment (including, where appropriate, invasive
soil or groundwater sampling).

    

    Each
notice pursuant to this Section 7.03 shall be
accompanied by a statement of a Responsible Officer of the Borrower setting
forth details of the occurrence referred to therein and stating what action the
applicable Loan Party has taken and proposes to take with respect
thereto.  Each notice pursuant to Section 7.03(a) shall
describe with particularity any and all provisions of this Agreement and any
other Loan Document that have been breached.

    

    7.04         Payment of
Obligations.

    

    Pay and
discharge, as the same shall become due and payable, all its obligations and
liabilities, including (a) all tax liabilities, assessments and governmental
charges or levies upon it or its properties or assets, unless the same are being
contested in good faith by appropriate proceedings diligently conducted and
adequate reserves in accordance with GAAP are being maintained by the Loan Party
or such Subsidiary;
(b) all lawful claims which, if unpaid, would by law become a Lien upon its
property; and (c) all Indebtedness, as and when due and payable, but subject to
any subordination provisions contained in any instrument or agreement evidencing
or relating to such Indebtedness.

      

      7.05         Preservation of Existence,
Etc.

      

      (a)           Preserve,
renew and maintain in full force and effect its legal existence under the Laws
of the jurisdiction of its organization except in a transaction permitted by
Section 8.04 or
8.05.

      

      (b)           Preserve,
renew and maintain in full force and effect its good standing under the Laws of
the jurisdiction of its organization, except to the extent the failure to do so
could not reasonably be expected to have a Material Adverse Effect.

      

    

    
      
         

      

      
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(c)           Take all
reasonable action to maintain all rights, privileges, permits, licenses and
franchises necessary or desirable in the normal conduct of its business, except
to the extent that the failure to do so could not reasonably be expected to have
a Material Adverse Effect.

    

    (d)           Preserve
or renew all of its material registered patents, copyrights, trademarks, trade
names and service marks, the non-preservation of which could reasonably be
expected to have a Material Adverse Effect.

    

    7.06         Maintenance of
Properties.

    

    (a)           Maintain,
preserve and protect all of its material properties and equipment necessary in
the operation of its business in good working order and condition, ordinary wear
and tear excepted.

    

    (b)           Make
all necessary repairs thereto and renewals and replacements thereof, except
where the failure to do so could not reasonably be expected to have a Material
Adverse Effect.

    

    (c)           Use
the standard of care typical in the industry in the operation and maintenance of
its facilities.

    

    7.07         Maintenance of
Insurance.

    

    Maintain in full force and effect
insurance (including worker’s compensation insurance, liability insurance,
casualty insurance and business interruption insurance) with financially sound
and reputable insurance companies not Affiliates of any Loan Party, in such
amounts, with such deductibles and covering such risks as are customarily
carried by companies engaged in similar businesses and owning similar properties
in localities where the applicable Loan Party or the applicable Subsidiary
operates.

    

    7.08         Compliance with
Laws.

    

    Comply
with the requirements of all Laws and all orders, writs, injunctions and decrees
applicable to it or to its business or property, except in such instances in
which (a) such requirement of Law or order, writ, injunction or decree is being
contested in good faith by appropriate proceedings diligently conducted; or (b)
the failure to comply therewith could not reasonably be expected to have a
Material Adverse Effect.

     

    
      7.09         Books and
Records.

      

      (a)           Maintain
proper books of record and account, in which full, true and correct entries in
conformity with GAAP consistently applied shall be made of all financial
transactions and matters involving the assets and business of such Loan Party or
such Subsidiary, as the case may be.

      

      (b)           Maintain
such books of record and account in material conformity with all applicable
requirements of any Governmental Authority having regulatory jurisdiction over
such Loan Party or such Subsidiary, as the case may be.

      

      7.10         Inspection
Rights.

    

     

    Permit representatives and
independent contractors of the Administrative Agent and each Lender to visit and
inspect any of its properties, to examine its corporate, financial and operating
records, and make copies thereof or abstracts therefrom, and to discuss its
affairs, finances and accounts with its directors, officers, and independent
public accountants, all at the expense of the Borrower and at such 

    
 

    
      
         

      

      
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              reasonable
      times during normal business hours and as often as may be reasonably
      desired, upon reasonable advance notice to the Borrower; provided, however, that
      when an Event of Default exists the Administrative Agent or any Lender (or
      any of their respective representatives or independent contractors) may do
      any of the foregoing at the expense of the Borrower at any time during
      normal business hours and without advance notice; provided, further, that
      absent an Event of Default which is continuing, any such inspection shall
      be limited to one per year at the Borrower’s
  expense.

            

    

    

    7.11         Use of
Proceeds.

    

    Use the
proceeds of the Credit Extensions (a) to finance the Corrpro Acquisition, (b) to
finance working capital, capital expenditures and Permitted Investments and (c)
for other general corporate purposes, provided that in no
event shall the proceeds of the Credit Extensions be used in contravention of
any Law or of any Loan Document.

    

    7.12         Additional
Subsidiaries.

    

    Within
thirty (30) days after the acquisition or formation of any
Subsidiary:

    

    (a)           notify
the Administrative Agent thereof in writing, together with the (i) jurisdiction
of formation, (ii) number of shares of each class of Equity Interests
outstanding, (iii) number and percentage of outstanding shares of each class
owned (directly or indirectly) by the Borrower or any Subsidiary and (iv) number
and effect, if exercised, of all outstanding options, warrants, rights of
conversion or purchase and all other similar rights with respect thereto;
and

    

    (b)           if
such Subsidiary is a Domestic Subsidiary and (i) is a Wholly-Owned Subsidiary or
(ii) is a non-wholly owned Subsidiary to the extent (A) such non-wholly-owned
Subsidiary’s Organization Documents expressly permit it to become a Guarantor
and (B) any consent required of the minority owners has been obtained, cause
such Person to (x) become a Guarantor by executing and delivering to the
Administrative Agent a Joinder Agreement or such other documents as the
Administrative Agent shall deem appropriate for such purpose, (y) deliver to the
Administrative Agent documents of the types referred to in Section 5.01(f) and
favorable opinions of counsel to such Person (which shall cover, among other
things, the legality, validity, binding effect and enforceability of the
documentation referred to in clause (a)), all in form, content and scope
reasonably satisfactory to the Administrative Agent and (z) become a party to
the
Intercreditor Agreement by executing a joinder agreement or such other
documentation as reasonably requested by the Administrative
Agent.

     

    7.13         ERISA
Compliance.

    

    Do, and
cause each of its ERISA Affiliates to do, each of the following: (a) maintain
each Plan in compliance in all material respects with the applicable provisions
of ERISA, the Internal Revenue Code and other federal or state law; (b) cause
each Plan that is qualified under Section 401(a) of the Internal Revenue Code to
maintain such qualification; and (c) make all required contributions to any Plan
subject to Section 412, Section 430 or Section 431 of the Internal Revenue
Code.

     

    7.14         Interest Rate Protection
Agreements.

    

    Within
sixty (60) days of the Closing Date, the Borrower shall enter into interest rate
protection agreements (protecting against fluctuations in interest rates)
reasonably acceptable to the Administrative Agent, which agreements shall
provide coverage in an amount equal to 50% of the outstanding Term Loan and for
the duration of the Term Loan.

    
      
         

      

      
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    7.15         Pari Passu
Ranking.

    

    Maintain the ranking of the Obligations
hereunder as pari passu, without preference or priority, with the Senior Notes
and all other outstanding, unsecured, unsubordinated obligations of the Borrower
and its Subsidiaries, present and future.  In furtherance of the
foregoing:

    

    (a)           if
any Subsidiary, or any other Person, shall create or assume a Guarantee with
respect to the Borrower’s obligations under Indebtedness of the Borrower, the
Borrower will concurrently make or cause to be made effective provisions whereby
the Obligations of the Borrower hereunder will be guaranteed by a Guarantee from
such Subsidiary or other Person equally and ratably with all other obligations
guaranteed by such first-mentioned Guarantee; and

    

    (b)           except
as permitted by the Note Purchase Agreement, if any Subsidiary of the Borrower,
or any other Person, shall grant a Lien with respect to any of its property or
assets to or for the benefit of any holder of Indebtedness of the Borrower, to
secure any of the Borrower’s obligations under such Indebtedness, whether now in
existence or hereafter arising, the Borrower will concurrently make or cause to
be made effective provisions whereby the obligations of the Borrower hereunder
will be secured by such Lien equally and ratably with all obligations under such
Indebtedness secured thereby.

     

    

    ARTICLE
VIII

    

    NEGATIVE
COVENANTS

    

    So long as any Lender shall have any
Commitment hereunder, any Loan or other Obligation (other than contingent
indemnification obligations that survive the termination of this Agreement)
hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall
remain outstanding, no Loan Party shall, nor shall it permit any Subsidiary to,
directly or indirectly:

    

    8.01         Liens.

    

    Create,
incur, assume or suffer to exist any Lien upon any of its property, assets or
revenues, whether now owned or hereafter acquired, other than the
following:

     

        (a)           Liens
pursuant to any Loan Document;

    
      

      (b)           Liens
existing on the date hereof and listed on Schedule 8.01 and any
renewals or extensions thereof, provided that (i) the
property covered thereby is not changed, (ii) the amount secured or benefited
thereby is not increased, (iii) the direct or any contingent obligor with
respect thereto is not changed, and (iv) any renewal or extension of the
obligations secured or benefited thereby is permitted by Section
8.03(b);

      

      (c)           Liens
(other than Liens imposed under ERISA) for taxes, assessments or governmental
charges or levies not yet due or which are being contested in good faith and by
appropriate proceedings diligently conducted, if adequate reserves with respect
thereto are maintained on the books of the applicable Person in accordance with
GAAP;

      

      (d)           statutory
Liens of landlords and Liens of carriers, warehousemen, mechanics, materialmen
and suppliers and other Liens imposed by law or pursuant to customary
reservations or retentions of title arising in the ordinary course of business,
provided that
such Liens secure only 

    

    
      
         

      

      
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    amounts
not yet due and payable or, if due and payable, are unfiled and no other
action has been taken to enforce the same or are being contested in good faith
by appropriate proceedings for which adequate reserves determined in accordance
with GAAP have been established;

    

    (e)           pledges
or deposits in the ordinary course of business in connection with workers’
compensation, unemployment insurance and other social security legislation,
other than any Lien imposed by ERISA;

    

    (f)           deposits
to secure the performance of bids, trade contracts and leases (other than
Indebtedness), statutory obligations, surety and appeal bonds, performance bonds
and other obligations of a like nature incurred in the ordinary course of
business;

    

    (g)           easements,
rights-of-way, restrictions and other similar encumbrances affecting real
property which, in the aggregate, are not substantial in amount, and which do
not in any case materially detract from the value of the property subject
thereto or materially interfere with the ordinary conduct of the business of the
applicable Person;

    

    (h)           Liens
securing judgments for the payment of money (or appeal or other surety bonds
relating to such judgments) not constituting an Event of Default under Section
9.01(h);

    

    (i)           Liens
securing Indebtedness of the Borrower or any Subsidiary permitted by Section 8.03(e);
provided, that
at the time of creation, assumption or incurrence of the Indebtedness secured by
any such Lien and after giving effect thereto and the application of the
proceeds thereof, no Default or Event of Default would exist;

    

    (j)           Liens
securing Indebtedness permitted by Section 8.03(f);
provided that
(i) such Liens do not at any time encumber any property other than the property
financed by such Indebtedness, (ii) the Indebtedness secured thereby does not
exceed the cost (negotiated on an arm’s length basis) of the property being
acquired on the date of acquisition and (iii) such Liens attach to such property
concurrently with or within ninety days after the acquisition
thereof;

    

    (k)           leases
or subleases granted to others not interfering in any material respect with the
business of any Loan Party or any of its Subsidiaries;

     

    (l)           any
interest of title of a lessor under, and Liens arising from UCC financing
statements (or equivalent filings, registrations or agreements in foreign
jurisdictions) relating to, leases permitted by this Agreement;

     

    (m)          Liens
deemed to exist in connection with Investments in repurchase agreements
permitted under Section
8.02;

     

    (n)           normal
and customary rights of setoff upon deposits of cash in favor of banks or other
depository institutions;

     

    (o)           Liens
of a collection bank arising under Section 4-210 of the Uniform Commercial Code
on items in the course of collection; 

     

    (p)           Liens
of sellers of goods to the Borrower and any of its Subsidiaries arising under
Article 2 of the Uniform Commercial Code or similar provisions of applicable law
in the ordinary course of business, covering only the goods sold and securing
only the unpaid purchase price for such goods and related expenses;
or

    
      
         

      

      
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    (q)           Liens,
if any, in favor of the L/C Issuer or the Swing Line Lender to cash
collateralize or otherwise secure the obligations of a Defaulting Lender or an
Impacted Lender to fund risk participations hereunder.

    

    8.02          Investments.

    

    Make any
Investments, except:

    

    (a)           Investments
held by the Borrower or such Subsidiary in the form of cash or Cash
Equivalents;

    

    (b)           Investments
existing as of the Closing Date and set forth in Schedule
8.02;

    

    (c)           (i)
de minimis Investments made to form wholly-owned Domestic Subsidiaries and (ii)
Investments in any Person that is a Loan Party prior to giving effect to such
Investment;

    

    (d)           Investments
by any Subsidiary of the Borrower that is not a Loan Party in any other
Subsidiary of the Borrower that is not a Loan Party;

    

    (e)           Investments
consisting of extensions of credit in the nature of accounts receivable or notes
receivable arising from the grant of trade credit in the ordinary course of
business, and Investments received in satisfaction or partial satisfaction
thereof from financially troubled account debtors to the extent reasonably
necessary in order to prevent or limit loss;

    

    (f)           Guarantees
permitted by Section
8.03;

    

    (g)           after
such time as the Consolidated Leverage Ratio has been less than 1.5 to 1.0 as of
the end of two consecutive fiscal quarters subsequent to the Closing Date,
Permitted Acquisitions;

    

    (h)           Investments
made after the Closing Date in joint ventures (regardless of the form of the
entity involved) and Foreign Subsidiaries in an aggregate amount not to exceed
$15,000,000; and

     

    (i)           if
the Borza Sale is consummated, loans in an aggregate amount not to exceed
$3,500,000 from Corrpro Canada, Inc. to Barry Borza as part of the consideration
for the Borza Sale.

     

    8.03         Indebtedness.

     

            Create,
incur, assume or suffer to exist any Indebtedness, except:

    
      

      (a)           Indebtedness
under the Loan Documents;

      

      (b)           Indebtedness
of the Borrower and its Subsidiaries set forth in Schedule
8.03;

      

      (c)           intercompany
Indebtedness permitted under Section
8.02;

      

      (d)           obligations
(contingent or otherwise) of the Borrower or any Subsidiary existing or arising
under any Swap Contract, provided that (i)
such obligations are (or were) entered into by such Person in the ordinary
course of business for the purpose of directly mitigating risks associated with
liabilities, commitments, investments, assets, or property held or reasonably
anticipated by such Person, or changes in the value of securities issued by such
Person, and not 

      
 

      
        
          
             

          

          
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    for purposes of
speculation or taking a “market view;” and (ii) such Swap Contract does not
contain any provision exonerating the non-defaulting party from its obligation
to make payments on outstanding transactions to the defaulting
party;

     

    (e)           Priority
Debt in an aggregate principal amount not to exceed $7,500,000 at any time
outstanding;

    

    (f)           purchase
money Indebtedness (including obligations in respect of Capital Leases or
Synthetic Leases) hereafter incurred by the Borrower or any of its Subsidiaries
to finance the purchase of fixed assets, and renewals, refinancings and
extensions thereof, provided that (i) the
total of all such Indebtedness for all such Persons taken together shall not
exceed an aggregate principal amount of $1,000,000 at any one time outstanding;
(ii) such Indebtedness when incurred shall not exceed the purchase price of the
asset(s) financed; and (iii) no such Indebtedness shall be refinanced for a
principal amount in excess of the principal balance outstanding thereon at the
time of such refinancing;

    

    (g)           the
Senior Notes in an aggregate principal amount not to exceed $65,000,000;
and

    

    (h)           other
unsecured Indebtedness of the Borrower in an aggregate principal amount not to
exceed $5,000,000.

    

    8.04         Fundamental
Changes.

    

    Merge,
dissolve, liquidate, consolidate with or into another Person, or Dispose of
(whether in one transaction or in a series of transactions) all or substantially
all of its assets (whether now owned or hereafter acquired) to or in favor of
any Person; provided that, notwithstanding the foregoing provisions of this
Section 8.04
but subject to the terms of Section 7.12, (a) the
Borrower may merge or consolidate with any of its Subsidiaries provided that the
Borrower shall be the continuing or surviving corporation, (b) any Loan Party
other than the Borrower may merge or consolidate with any other Loan Party other
than the Borrower, (c) any Foreign Subsidiary may be merged or consolidated with
or into any Loan Party provided that such Loan Party shall be the continuing or
surviving corporation, (d) any Foreign Subsidiary may be merged or consolidated
with or into any other Foreign Subsidiary and (e) each of Affholder, CCSI 
Management
and Kinsel may be dissolved or liquidated by the Borrower provided that any
assets of such Person are transferred to a Loan Party prior to or in connection
with such dissolution.

      

      8.05         Dispositions.

      

      Make any
Disposition except for (a) Permitted Sale Leasebacks, (b) the Borza Sale and (c)
other Dispositions so long as (i) the consideration paid in connection therewith
shall be cash or Cash Equivalents paid contemporaneous with consummation of the
transaction and shall be in an amount not less than the fair market value of the
property disposed of, (ii) such transaction does not involve a sale or other
disposition of receivables other than receivables owned by or attributable to
other property concurrently being disposed of in a transaction otherwise
permitted under this Section 8.05, and
(iii) the aggregate net book value of all of the assets Disposed of by the
Borrower and its Subsidiaries in all such transactions (A) occurring during any
fiscal year shall not exceed $10,000,000 and (B) occurring during the
term of this Agreement shall not exceed $20,000,000.

      

      8.06         Restricted
Payments.

    

    
      
         

      

      
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    Declare
or make, directly or indirectly, any Restricted Payment, or incur any obligation
(contingent or otherwise) to do so, except that:

    

    (a)           each
Subsidiary may make Restricted Payments to Persons that own Equity Interests in
such Subsidiary, ratably according to their respective holdings of the type of
Equity Interest in respect of which such Restricted Payment is being made;
and

    

    (b)           the
Borrower and each Subsidiary may declare and make dividend payments or other
distributions payable solely in the Equity Interests of such
Person.

    

    8.07         Change in Nature of
Business.

    

    Engage in
any material line of business substantially different from those lines of
business conducted by the Borrower and its Subsidiaries (including Corrpro and
its Subsidiaries) on the Closing Date or any business substantially related or
incidental thereto.

    

    8.08         Transactions with Affiliates
and Insiders.

    

    Except as
set forth on Schedule
8.08, enter into or permit to exist any transaction or series of
transactions with any officer, director or Affiliate of such Person other than
(a) advances of working capital to any Loan Party, (b) transfers of cash and
assets to any Loan Party, (c) intercompany transactions expressly permitted by
Section 8.02,
Section 8.03,
Section 8.04,
Section 8.05 or
Section 8.06,
(d) normal and reasonable compensation and reimbursement of expenses of officers
and directors in the ordinary course of business and (e) except as otherwise
specifically limited in this Agreement, other transactions which are entered
into in the ordinary course of such Person’s business on terms and conditions
substantially as favorable to such Person as would be obtainable by it in a
comparable arms-length transaction with a Person other than an officer, director
or Affiliate.

    

    8.09         Burdensome
Agreements.

    

    (a)           Enter
into, or permit to exist, any Contractual Obligation that encumbers or restricts
on the ability of any such Person to (i) pay dividends or make any other
distributions to any Loan Party on its Equity Interests or with respect to any
other interest or participation in, or measured by, its profits, (ii) pay any
Indebtedness or other obligation owed to any Loan Party, (iii) make loans or
advances to any Loan Party,
(iv) sell, lease or transfer any of its property to any Loan Party, (v) pledge
its property pursuant to the Loan Documents or any renewals, refinancings,
exchanges, refundings or extension thereof or (vi) act as a Loan Party pursuant
to the Loan Documents or any renewals, refinancings, exchanges, refundings or
extension thereof, except (in respect of any of the matters referred to in
clauses (i)-(v) above) for (1) this Agreement, the other Loan Documents and the
Note Purchase Agreement, (2) any document or instrument governing Indebtedness
incurred pursuant to Section 8.03(f),
provided that
any such restriction contained therein relates only to the asset or assets
constructed or acquired in connection therewith, (3) any Permitted Lien or any
document or instrument governing any Permitted Lien, provided that any
such restriction contained therein relates only to the asset or assets subject
to such Permitted Lien or (4) customary restrictions and conditions contained in
any agreement relating to the sale of any property permitted under Section 8.05 pending
the consummation of such sale.

      

      (b)           Enter
into, or permit to exist, any Contractual Obligation that prohibits or otherwise
restricts the existence of any Lien upon any of its property in favor of the
Administrative Agent (for the benefit of the Lenders) for the purpose of
securing the Obligations, whether now owned or hereafter acquired, or requiring
the grant of any security for any obligation if such property is given as
security for the Obligations, except (i) any document or instrument governing
Indebtedness incurred pursuant to Section

    

    
      
         

      

      
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    8.03(f), provided that any
such restriction contained therein relates only to the asset or assets
constructed or acquired in connection therewith, (ii) in connection with any
Permitted Lien or any document or instrument governing any Permitted Lien, provided that any
such restriction contained therein relates only to the asset or assets subject
to such Permitted Lien, (iii) pursuant to customary restrictions and conditions
contained in any agreement relating to the sale of any property permitted under
Section 8.05,
pending the consummation of such sale and (iv) the Note Purchase
Agreement.

    

    8.10         Use of
Proceeds.

    

    Use the
proceeds of any Credit Extension, whether directly or indirectly, and whether
immediately, incidentally or ultimately, to purchase or carry margin stock
(within the meaning of Regulation U of the FRB) or to extend credit to others
for the purpose of purchasing or carrying margin stock or to refund indebtedness
originally incurred for such purpose.

    

    8.11         Financial
Covenants.

    

    (a)           Consolidated Leverage
Ratio.  Permit the Consolidated Leverage Ratio as of the end of
any fiscal quarter of the Borrower to be greater than (i) 2.50 to 1.0 as of any
fiscal quarter ending during the period from the Closing Date to and including
September 30, 2009, (ii) 2.25 to 1.0 as of any fiscal
quarter ending during the period from October 1, 2009 to and including March 31,
2010 and (ii) 2.0 to 1.0 as of any fiscal quarter ending
thereafter.

    

    (b)           Consolidated Fixed Charge
Coverage Ratio.  Permit the Consolidated Fixed Charge Coverage
Ratio as of the end of any fiscal quarter of the Borrower to be less than
1.25 to
1.0.

    

    (c)           Consolidated Net
Worth.  Permit the Consolidated Net Worth at any time to be
less than the sum of 80% of Consolidated Net Worth as of December 31, 2008
increased on a cumulative basis as of the end of each fiscal quarter of the
Borrower by an amount equal to 50% of Consolidated Net Income (to the extent
positive) for such fiscal quarter and 100% of all Equity Issuances.

    

    8.12         Capital
Expenditures.

    

      Permit
Consolidated Capital Expenditures to exceed (a) $35,000,000 during the fiscal
year ending December 31, 2009, (b) $40,000,000 during the fiscal year ending
December 31, 2010 and (c) $45,000,000 in any fiscal year
thereafter.

      

      8.13         Organization Documents;
Fiscal Year; Legal Name, State of Formation and Form of
Entity.

      

      (a)           Amend,
modify or change its Organization Documents in a manner adverse to the
Lenders.

      

      (b)           Change
its fiscal year.

      

      (c)           Without
providing ten (10) days prior written notice to the Administrative Agent, change
its name, state of formation or form of organization.

      

      8.14         Preferred
Equity.

      

      Notwithstanding
any other provisions of this Agreement to the contrary, (i) permit any Loan
Party or any Subsidiary of any Loan Party to issue or have outstanding any
shares of preferred Equity Interests (other than any preferred Equity Interests
issued by a Foreign Subsidiary in favor of another Foreign 

        
          
             

          

          
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    Subsidiary
or a Loan Party) or (ii) create, incur, assume or suffer to exist any Lien on
any Equity Interests of any Subsidiary of any Loan Party, except for Permitted
Liens.

    

    8.15         Sale
Leasebacks.

    

    Enter
into any Sale and Leaseback Transaction other than a Permitted Sale Leaseback
Transaction.

     

    

    ARTICLE
IX

    

    EVENTS OF
DEFAULT AND REMEDIES

    

    9.01         Events of
Default.

    

    Any of
the following shall constitute an Event of Default:

    

    (a)           Non-Payment.  The
Borrower or any other Loan Party fails to pay (i) when and as required to be
paid herein, any amount of principal of any Loan or any L/C Obligation, or (ii)
within three Business Days after the same becomes due, any interest on any Loan
or on any L/C Obligation, or any fee due hereunder, or (iii) within five
Business Days after the same becomes due, any other amount payable hereunder or
under any other Loan Document; or

    

    (b)           Specific
Covenants.  Any Loan Party fails to perform or observe any
term, covenant or agreement contained in any of Section 7.01, 7.02, 7.03, 7.05(a) (with respect
to any Loan Party), 7.10, 7.11 or 7.14 or Article VIII;
or

    

    (c)           Other
Defaults.  Any Loan Party fails to perform or observe any other
covenant or agreement (not specified in subsection (a) or (b) above) contained
in any Loan Document on its part to be performed or observed and such failure
continues for thirty days after the earlier of the date on which (i) a
Responsible Officer of a Loan Party becomes aware of such failure or (ii) notice
thereof shall have been given to the Borrower by the Administrative Agent or any
Lender; or 

     

    (d)           Representations and
Warranties.  Any representation, warranty, certification or
statement of fact made or deemed made by or on behalf of the Borrower or any
other Loan Party herein, in any other Loan Document, or in any document
delivered in connection herewith or therewith shall be incorrect or misleading
in any material respect when made or deemed made; or

    

    (e)           Cross-Default.  (i)
Any Loan Party or any Subsidiary (A) fails to make any payment when due (whether
by scheduled maturity, required prepayment, acceleration, demand, or otherwise)
in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder
and Indebtedness under Swap Contracts) having an aggregate principal amount
(including undrawn committed or available amounts and including amounts owing to
all creditors under any combined or syndicated credit arrangement) of more than
the Threshold Amount, or (B) fails to observe or perform any other agreement or
condition relating to any such Indebtedness or Guarantee or contained in any
instrument or agreement evidencing, securing or relating thereto, or any other
event occurs, the effect of which default or other event is to cause, or to
permit the holder or holders of such Indebtedness or the beneficiary or
beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder
or holders or beneficiary or beneficiaries) to cause, with the giving of notice
if required, such Indebtedness to be demanded or to become due or to be
repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an
offer to repurchase, prepay, defease or redeem such Indebtedness to be made,
prior to its stated maturity, 

    
      
         

      

      
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    or such
Guarantee to become payable or cash collateral in respect thereof to be
demanded; or (ii) there occurs under any Swap Contract an Early Termination Date
(as defined in such Swap Contract) resulting from (A) any event of default
under such Swap Contract as to which the Borrower or any Subsidiary is the
Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event
(as so defined) under such Swap Contract as to which the Borrower or any
Subsidiary is an Affected Party (as so defined) and, in either event, the Swap
Termination Value owed by the Borrower or such Subsidiary as a result thereof is
greater than the Threshold Amount; or

    

    (f)           Insolvency Proceedings,
Etc.  Any Loan Party or any of its Significant Subsidiaries
institutes or consents to the institution of any proceeding under any Debtor
Relief Law, or makes an assignment for the benefit of creditors; or applies for
or consents to the appointment of any receiver, trustee, custodian, conservator,
liquidator, rehabilitator or similar officer for it or for all or any material
part of its property; or any receiver, trustee, custodian, conservator,
liquidator, rehabilitator or similar officer is appointed without the
application or consent of such Person and the appointment continues undischarged
or unstayed for sixty calendar days; or any proceeding under any Debtor Relief
Law relating to any such Person or to all or any material part of its property
is instituted without the consent of such Person and continues undismissed or
unstayed for sixty calendar days, or an order for relief is entered in any such
proceeding; or

    

    (g)           Inability to Pay Debts;
Attachment.  (i) Any Loan Party or any of its Significant
Subsidiaries becomes unable or admits in writing its inability or fails
generally to pay its debts as they become due, or (ii) any writ or warrant of
attachment or execution or similar process is issued or levied against all or
any material part of the property of any such Person and is not released,
vacated or fully bonded within thirty days after its issue or levy;
or

    

    (h)           Judgments.  There
is entered against any Loan Party or any Subsidiary (i) one or more final
judgments or orders for the payment of money in an aggregate amount exceeding
the Threshold Amount (to the extent not covered by independent third-party
insurance as to which the insurer does not dispute coverage), or (ii) any one or
more non-monetary final judgments that have, or could reasonably be expected to
have, individually or in the aggregate, a Material Adverse
Effect and, in either case, (A) enforcement proceedings are commenced by any
creditor upon such judgment or order, or (B) there is a period of ten
consecutive days during which a stay of enforcement of such judgment, by reason
of a pending appeal or otherwise, is not in effect; or

    

    (i)           ERISA.  (i)
An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which
has resulted or could reasonably be expected to result in liability of any Loan
Party under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the
PBGC in an aggregate amount in excess of the Threshold Amount, or (ii) the
Borrower or any ERISA Affiliate fails to pay when due, after the expiration of
any applicable grace period, any installment payment with respect to its
withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in
an aggregate amount in excess of the Threshold Amount; or

    

    (j)           Invalidity of Loan
Documents.  Any Loan Document, at any time after its execution
and delivery and for any reason other than as expressly permitted hereunder or
thereunder or satisfaction in full of all the Obligations (other than contingent
indemnification obligations that survive the termination of this Agreement),
ceases to be in full force and effect; or any Loan Party contests in any manner
the validity or enforceability of any Loan Document; or any Loan Party denies
that it has any or further liability or obligation under any Loan Document, or
purports to revoke, terminate or rescind any Loan Document; or

     

     

    
      
        
        

      

      
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      (k)           Cross-Default to Note
Purchase Agreement.  There shall occur an “Event of Default”
(or any comparable term) under, and as defined in, the Note Purchase Agreement;
or

      

      (l)           Change of
Control.  There occurs any Change of
Control.

    

     

    9.02         Remedies Upon Event of
Default.

    

    If any
Event of Default occurs and is continuing, the Administrative Agent shall, at
the request of, or may, with the consent of, the Required Lenders, take any or
all of the following actions:

    

    (a)           declare
the commitment of each Lender to make Loans and any obligation of the L/C Issuer
to make L/C Credit Extensions to be terminated, whereupon such commitments and
obligation shall be terminated;

    

    (b)           declare
the unpaid principal amount of all outstanding Loans, all interest accrued and
unpaid thereon, and all other amounts owing or payable hereunder or under any
other Loan Document to be immediately due and payable, without presentment,
demand, protest or other notice of any kind, all of which are hereby expressly
waived by the Borrower;

    

    (c)           require
that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to
the then Outstanding Amount thereof); and

    

    (d)           exercise
on behalf of itself and the Lenders all rights and remedies available to it and
the Lenders under the Loan Documents;

    

    provided, however, that upon
the occurrence of an actual or deemed entry of an order for relief with respect
to the Borrower under the Bankruptcy Code of the United States, the obligation
of each Lender to make Loans and any obligation of the L/C Issuer to make L/C
Credit Extensions shall automatically terminate, the unpaid principal amount of
all outstanding Loans and all interest and other amounts as aforesaid shall
automatically become due and payable, and the obligation of the Borrower to
Cash Collateralize
the L/C Obligations as aforesaid shall automatically become effective, in each
case without further act of the Administrative Agent or any
Lender.

      

      9.03         Application of
Funds.

      

      After the
exercise of remedies provided for in Section 9.02 (or
after the Loans have automatically become immediately due and payable and the
L/C Obligations have automatically been required to be Cash Collateralized as
set forth in the proviso to Section 9.02), any
amounts received on account of the Obligations shall be applied by the
Administrative Agent in the following order:

      

      First, to payment of
that portion of the Obligations constituting fees, indemnities, expenses and
other amounts (including fees, charges and disbursements of counsel to the
Administrative Agent and amounts payable under Article III) payable
to the Administrative Agent in its capacity as such;

      

      Second, to payment of
that portion of the Obligations constituting fees, indemnities and other amounts
(other than principal, interest and Letter of Credit Fees) payable to the
Lenders and the L/C Issuer (including fees, charges and disbursements of counsel
to the respective Lenders and the L/C Issuer) arising under the Loan Documents
and amounts payable under Article III,

    

    
      
         

      

      
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    ratably
among them in proportion to the respective amounts described in this clause
Second payable
to them;

    

    Third, to payment of
that portion of the Obligations constituting accrued and unpaid Letter of Credit
Fees and interest on the Loans and L/C Borrowings and fees, premiums and
scheduled periodic payments, and any interest accrued thereon, due under any
Swap Contract between any Loan Party and any Lender, or any Affiliate of a
Lender, to the extent such Swap Contract is permitted by Section 8.03(d),
ratably among the Lenders (and, in the case of such Swap Contracts, Affiliates
of Lenders) and the L/C Issuer in proportion to the respective amounts described
in this clause Third held by
them;

    

    Fourth, to (a)
payment of that portion of the Obligations constituting accrued and unpaid
principal of the Loans and L/C Borrowings, (b) payment of breakage, termination
or other payments, and any interest accrued thereon, due under any Swap Contract
between any Loan Party and any Lender, or any Affiliate of a Lender, to the
extent such Swap Contract is permitted by Section 8.03(d), (c)
payments of amounts due under any Treasury Management Agreement between any Loan
Party and any Lender, or any Affiliate of a Lender and (d) Cash Collateralize
that portion of L/C Obligations comprised of the aggregate undrawn amount of
Letters of Credit, ratably among the Lenders (and, in the case of such Swap
Contracts, Affiliates of Lenders) and the L/C Issuer in proportion to the
respective amounts described in this clause Fourth held by them;
and

    

    Last, the balance, if
any, after all of the Obligations have been indefeasibly paid in full, to the
Borrower or as otherwise required by Law.

    

    Subject
to Section
2.03(c), amounts used to Cash Collateralize the aggregate undrawn amount
of Letters of Credit pursuant to clause Fourth above shall be
applied to satisfy drawings under such Letters of Credit as they
occur.  If any amount remains on deposit as Cash Collateral after all
Letters of Credit have either been fully drawn or expired, such remaining amount
shall be applied to the other Obligations, if any, in the order set forth
above.

     

    

      ARTICLE
X

      

      ADMINISTRATIVE
AGENT

      

      10.01       Appointment and
Authority.

      

      (a)           Each
of the Lenders and the L/C Issuer hereby irrevocably appoints Bank of America to
act on its behalf as the Administrative Agent hereunder and under the other Loan
Documents and authorizes the Administrative Agent to take such actions on its
behalf and to exercise such powers as are delegated to the Administrative Agent
by the terms hereof or thereof, together with such actions and powers as are
reasonably incidental thereto.  The provisions of this Article are
solely for the benefit of the Administrative Agent, the Lenders and the L/C
Issuer, and neither the Borrower nor any other Loan Party shall have rights as a
third party beneficiary of any of such provisions.

      

      (b)           Each
Lender hereby consents to and approves the terms of the Intercreditor
Agreement.  By execution hereof, the Lenders acknowledge the terms of
the Intercreditor Agreement and agree to be bound by the terms thereof and
further authorize and direct the Administrative Agent to enter into the
Intercreditor Agreement on behalf of all the Lenders.

    

    
      
         

      

      
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    10.02       Rights as a
Lender.

    

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

    

    10.03       Exculpatory
Provisions.

    

    The
Administrative Agent shall not have any duties or obligations except those
expressly set forth herein and in the other Loan Documents.  Without
limiting the generality of the foregoing, the Administrative Agent:

    

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

    

    (b)           shall
not have any duty to take any discretionary action or exercise any discretionary
powers, except discretionary rights and powers expressly contemplated hereby or
by the other Loan Documents that the Administrative Agent is required to
exercise as directed in writing by the Required Lenders (or such other number or
percentage of the Lenders as shall be expressly provided for herein or in the
other Loan Documents), provided that the
Administrative Agent shall not be required to take any action that, in its
opinion or the opinion of its counsel, may expose the Administrative Agent to
liability or that is contrary to any Loan Document or applicable law;
and

    

    (c)           shall
not, except as expressly set forth herein and in the other Loan Documents, have
any duty to disclose, and shall not be liable for the failure to disclose, any
information relating
to any Loan Party or any of its Affiliates that is communicated to or obtained
by the Person serving as the Administrative Agent or any of its Affiliates in
any capacity.

     

    The
Administrative Agent shall not be liable for any action taken or not taken by it
(i) with the consent or at the request of the Required Lenders (or such other
number or percentage of the Lenders as shall be necessary, or as the
Administrative Agent shall believe in good faith shall be necessary, under the
circumstances as provided in Sections 11.01 and
9.02) or (ii)
in the absence of its own gross negligence or willful misconduct.  The
Administrative Agent shall be deemed not to have knowledge of any Default unless
and until notice describing such Default is given to the Administrative Agent by
the Borrower, a Lender or the L/C Issuer.

    

     The
Administrative Agent shall not be responsible for or have any duty to ascertain
or inquire into (i) any statement, warranty or representation made in or in
connection with this Agreement or any other Loan Document, (ii) the contents of
any certificate, report or other document delivered hereunder or thereunder or
in connection herewith or therewith, (iii) the performance or observance of any
of the covenants, agreements or other terms or conditions set forth herein or
therein or the occurrence of any Default, (iv) the validity, enforceability,
effectiveness or genuineness of this Agreement, any other Loan Document or any
other agreement, instrument or document or (v) the satisfaction of any condition
set forth in Article
V or elsewhere herein, other than to confirm receipt of items expressly
required to be delivered to the Administrative Agent.

     

    
 

    
      
         

      

      
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    10.04       Reliance by Administrative
Agent.

    

    The
Administrative Agent shall be entitled to rely upon, and shall not incur any
liability for relying upon, any notice, request, certificate, consent,
statement, instrument, document or other writing (including any electronic
message, Internet or intranet website posting or other distribution) believed by
it to be genuine and to have been signed, sent or otherwise authenticated by the
proper Person.  The Administrative Agent also may rely upon any
statement made to it orally or by telephone and believed by it to have been made
by the proper Person, and shall not incur any liability for relying
thereon.  In determining compliance with any condition hereunder to
the making of a Loan, or the issuance of a Letter of Credit, that by its terms
must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the
Administrative Agent may presume that such condition is satisfactory to such
Lender or the L/C Issuer unless the Administrative Agent shall have received
notice to the contrary from such Lender or the L/C Issuer prior to the making of
such Loan or the issuance of such Letter of Credit.  The
Administrative Agent may consult with legal counsel (who may be counsel for the
Loan Parties), independent accountants and other experts selected by it, and
shall not be liable for any action taken or not taken by it in accordance with
the advice of any such counsel, accountants or experts.

    

    10.05       Delegation of
Duties.

    

    The
Administrative Agent may perform any and all of its duties and exercise its
rights and powers hereunder or under any other Loan Document by or through any
one or more sub-agents appointed by the Administrative Agent.  The
Administrative Agent and any such sub-agent may perform any and all of its
duties and exercise its rights and powers by or through their respective Related
Parties.  The exculpatory provisions of this Article shall apply to
any such sub-agent and to the Related Parties of the Administrative Agent and
any such sub-agent, and shall apply to their respective activities in connection
with the syndication of the credit facilities provided for herein as well as
activities as Administrative Agent.

    10.06       Resignation of
Administrative Agent.

    

    The
Administrative Agent may at any time give notice of its resignation to the
Lenders, the L/C Issuer and the Borrower.  Upon receipt of any such
notice of resignation, the Required Lenders shall have the right, in
consultation with the Borrower, to appoint a successor, which shall be a bank
with an office in the United States, or an Affiliate of any such bank with an
office in the United States.  If no such successor shall have been so
appointed by the Required Lenders and shall have accepted such appointment
within 30 days after the retiring Administrative Agent gives notice of its
resignation, then the retiring Administrative Agent may on behalf of the Lenders
and the L/C Issuer, appoint a successor Administrative Agent meeting the
qualifications set forth above; provided that if the
Administrative Agent shall notify the Borrower and the Lenders that no
qualifying Person has accepted such appointment, then such resignation shall
nonetheless become effective in accordance with such notice and (1) the retiring
Administrative Agent shall be discharged from its duties and obligations
hereunder and under the other Loan Documents and (2) all payments,
communications and determinations provided to be made by, to or through the
Administrative Agent shall instead be made by or to each Lender and the L/C
Issuer directly, until such time as the Required Lenders appoint a successor
Administrative Agent as provided for above in this Section.  Upon the
acceptance of a successor’s appointment as Administrative Agent hereunder, such
successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring (or retired) Administrative Agent, and the
retiring Administrative Agent shall be discharged from all of its duties and
obligations hereunder or under the other Loan Documents (if not already
discharged therefrom as provided above in this Section).  The fees
payable by the Borrower to a successor Administrative Agent shall be the same as
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    unless
otherwise agreed between the Borrower and such successor.  After the
retiring Administrative Agent’s resignation hereunder and under the other Loan
Documents, the provisions of this Article and Section 11.04 shall
continue in effect for the benefit of such retiring Administrative Agent, its
sub-agents and their respective Related Parties in respect of any actions taken
or omitted to be taken by any of them while the retiring Administrative Agent
was acting as Administrative Agent.

    

    Any
resignation by Bank of America as Administrative Agent pursuant to this Section
shall also constitute its resignation as L/C Issuer and Swing Line
Lender.  Upon the acceptance of a successor’s appointment as
Administrative Agent hereunder, (a) such successor shall succeed to and become
vested with all of the rights, powers, privileges and duties of the retiring L/C
Issuer and Swing Line Lender, (b) the retiring L/C Issuer and Swing Line Lender
shall be discharged from all of their respective duties and obligations
hereunder or under the other Loan Documents, and (c) the successor L/C Issuer
shall issue letters of credit in substitution for the Letters of Credit, if any,
outstanding at the time of such succession or make other arrangements
satisfactory to the retiring L/C Issuer to effectively assume the obligations of
the retiring L/C Issuer with respect to such Letters of Credit.

    

    10.07       Non-Reliance on
Administrative Agent and Other Lenders.

    

    Each
Lender and the L/C Issuer acknowledges that it has, independently and without
reliance upon the Administrative Agent or any other Lender or any of their
Related Parties and based on such documents and information as it has deemed
appropriate, made its own credit analysis and decision to enter into this
Agreement.  Each Lender and the L/C Issuer also acknowledges that it
will, independently and without reliance upon the Administrative Agent or any
other Lender or any of their Related Parties and based on such documents and
information as it shall from time to time deem appropriate, continue to make its
own decisions in taking or not taking action under or based upon this Agreement,
any other Loan Document or any related agreement or any document furnished
hereunder or thereunder.

     

    
      10.08       No Other Duties;
Etc.

      

      Anything
herein to the contrary notwithstanding, none of the bookrunners, arrangers,
syndication agents, documentation agents or co-agents shall have any powers,
duties or responsibilities under this Agreement or any of the other Loan
Documents, except in its capacity, as applicable, as the Administrative Agent, a
Lender or the L/C Issuer hereunder.

      

      10.09       Administrative Agent May
File Proofs of Claim.

      

      In case
of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial
proceeding relative to any Loan Party, the Administrative Agent (irrespective of
whether the principal of any Loan or L/C Obligation shall then be due and
payable as herein expressed or by declaration or otherwise and irrespective of
whether the Administrative Agent shall have made any demand on the Borrower)
shall be entitled and empowered, by intervention in such proceeding or
otherwise:

      

      (a)           to
file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the Loans, L/C Obligations and all other Obligations
(other than obligations under Swap Contracts or Treasury Management Agreements
to which the Administrative Agent is not a party) that are owing and unpaid and
to file such other documents as may be necessary or advisable in order to have
the claims of the Lenders, the L/C Issuer and the Administrative Agent
(including any claim for the reasonable compensation, expenses, disbursements
and advances of the Lenders, the L/C Issuer and the Administrative Agent and
their respective agents and counsel and all other amounts due the Lenders, the
L/C Issuer and the  

    

    
      
         

      

      
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    Administrative
Agent under Sections
2.03(i) and (j), 2.09 and 11.04) allowed in
such judicial proceeding; and

    

    (b)           to
collect and receive any monies or other property payable or deliverable on any
such claims and to distribute the same;

    

    and any
custodian, receiver, assignee, trustee, liquidator, sequestrator or other
similar official in any such judicial proceeding is hereby authorized by each
Lender and the L/C Issuer to make such payments to the Administrative Agent and,
in the event that the Administrative Agent shall consent to the making of such
payments directly to the Lenders and the L/C Issuer, to pay to the
Administrative Agent any amount due for the reasonable compensation, expenses,
disbursements and advances of the Administrative Agent and its agents and
counsel, and any other amounts due the Administrative Agent under Sections 2.09 and
11.04.

    

    Nothing
contained herein shall be deemed to authorize the Administrative Agent to
authorize or consent to or accept or adopt on behalf of any Lender or the L/C
Issuer any plan of reorganization, arrangement, adjustment or composition
affecting the Obligations or the rights of any Lender or to authorize the
Administrative Agent to vote in respect of the claim of any Lender in any such
proceeding.

    

    10.10       Guaranty
Matters.

    

    Each of
the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent,
at its option and in its discretion, to release any Guarantor from its
obligations under the Guaranty if such Person ceases to be a Subsidiary as a
result of a transaction permitted hereunder.  Upon request by the
Administrative Agent at any time, the Required Lenders will confirm in writing
the Administrative Agent’s authority to release any Guarantor from its
obligations under the Guaranty, pursuant to this Section
10.10.

     

    

      

      ARTICLE
XI

       

      MISCELLANEOUS

      

      11.01       Amendments,
Etc.

      

      No
amendment or waiver of any provision of this Agreement or any other Loan
Document, and no consent to any departure by the Borrower or any other Loan
Party therefrom, shall be effective unless in writing signed by the Required
Lenders and the Borrower or the applicable Loan Party, as the case may be, and
acknowledged by the Administrative Agent, and each such waiver or consent shall
be effective only in the specific instance and for the specific purpose for
which given; provided, further,
that

      

      (a)           no
such amendment, waiver or consent shall:

      

      (i)           extend
or increase the Commitment of a Lender (or reinstate any Commitment terminated
pursuant to Section
9.02) without the written consent of such Lender whose Commitment is
being extended or increased (it being understood and agreed that a waiver of any
condition precedent set forth in Section 5.02 or of
any Default or a mandatory reduction in Commitments is not considered an
extension or increase in Commitments of any Lender);

      

      (ii)          postpone
any date fixed by this Agreement or any other Loan Document for any payment of
principal (excluding mandatory prepayments), interest, fees or other

    

    
      
         

      

      
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    amounts
due to the Lenders (or any of them) or any scheduled or mandatory reduction of
the Commitments hereunder or under any other Loan Document without the written
consent of each Lender entitled to receive such payment or whose Commitments are
to be reduced;

    

    (iii)         reduce
the principal of, or the rate of interest specified herein on, any Loan or L/C
Borrowing, or (subject to clause (i) of the final proviso to this Section 11.01) any
fees or other amounts payable hereunder or under any other Loan Document without
the written consent of each Lender entitled to receive such payment of
principal, interest, fees or other amounts; provided, however, that only
the consent of the Required Lenders shall be necessary to amend the definition
of “Default Rate” or to waive any obligation of the Borrower to pay interest or
Letter of Credit Fees at the Default Rate;

    

    (iv)        change
Section 2.13 or
Section 9.03 in
a manner that would alter the pro rata sharing of payments required thereby
without the written consent of each Lender directly affected
thereby;

    

    (v)         change
any provision of this Section 11.01(a) or
the definition of “Required Lenders” without the written consent of each Lender
directly affected thereby;

    

    (vi)        
release the Borrower or, except in connection with a merger or consolidation
permitted under Section 8.04 or a
Disposition permitted under Section 8.05, all or
substantially all of the Guarantors without the written consent of each Lender
directly affected thereby, except to the extent the release of any Guarantor is
permitted pursuant to Section 10.10 (in
which case such release may be made by the Administrative Agent acting alone);
or

    
      
(vii)        without the consent of
Lenders (other than Defaulting Lenders) holding in the aggregate at least a
majority of the Revolving Commitments (or if the Revolving Commitments have been
terminated, the outstanding Revolving Loans (and participations in any Swing
Line Loans and L/C Obligations)), (i) waive any Default or Event of Default for
purposes of Section
5.02 for purposes of any Revolving Loan Borrowing or L/C Credit
Extension, (ii) amend, change, waive, discharge or terminate Section 2.01(a),
2.02, 2.03, 2.05(b)(i) or 2.06 or any term,
covenant or agreement contained in Article VIII or Article IX or (iii)
amend or change any provision of this Section
11.01(a)(viii);

    

    (viii)       without
the consent of Lenders (other than Defaulting Lenders) holding in the aggregate
at least a majority of the outstanding Term Loan (and participations therein),
(A) amend, change, waive, discharge or terminate Section 2.05(b)(vii)
so as to alter the manner of application of proceeds of any mandatory prepayment
required by Section
2.05(b)(ii), (iii), (iv), (v) or (vi) hereof or (B)
amend or change any provision of this Section 11.01(a)(ix);
or

    

    (ix)         amend
the definition of “Alternative Currency” without the written consent of each
Lender;

    

    (b)           unless
also signed by the L/C Issuer, no amendment, waiver or consent shall affect the
rights or duties of the L/C Issuer under this Agreement or any Issuer Document
relating to any Letter of Credit issued or to be issued by it;

    
      
         

      

      
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      (c)           unless
also signed by the Swing Line Lender, no amendment, waiver or consent shall
affect the rights or duties of the Swing Line Lender under this Agreement;
and

      

      (d)           unless
also signed by the Administrative Agent, no amendment, waiver or consent shall
affect the rights or duties of the Administrative Agent under this Agreement or
any other Loan Document;

      

      provided, however, that
notwithstanding anything to the contrary herein, (i) the Fee Letter may be
amended, or rights or privileges thereunder waived, in a writing executed only
by the parties thereto, (ii) no Defaulting Lender shall have any right to
approve or disapprove any amendment, waiver or consent hereunder, except that
the Commitment of such Lender may not be increased or extended without the
consent of such Lender, (iii) each Lender is entitled to vote as such Lender
sees fit on any bankruptcy reorganization plan that affects the Loans, and each
Lender acknowledges that the provisions of Section 1126(c) of the Bankruptcy
Code of the United States supersedes the unanimous consent provisions set forth
herein and (iv) the Required Lenders shall determine whether or not to allow a
Loan Party to use cash collateral in the context of a bankruptcy or insolvency
proceeding and such determination shall be binding on all of the
Lenders.

      

      11.02       Notices and Other
Communications; Facsimile Copies.

      

      (a)           Notices
Generally.  Except in the case of notices and other
communications expressly permitted to be given by telephone (and except as
provided in subsection (b) below), all notices and other communications provided
for herein shall be in writing and shall be delivered by hand or overnight
courier service, mailed by certified or registered mail or sent by telecopier as
follows, and all notices and other communications expressly permitted hereunder
to be given by telephone shall be made to the applicable telephone number, as
follows:
 

    

    (i)           if
to the Borrower or any other Loan Party, the Administrative Agent, the L/C
Issuer or the Swing Line Lender, to the address, telecopier number, electronic
mail address or telephone number specified for such Person on Schedule 11.02;
and

    

    (ii)           if
to any other Lender, to the address, telecopier number, electronic mail address
or telephone number specified in its Administrative Questionnaire.

    

    Notices
and other communications sent by hand or overnight courier service, or mailed by
certified or registered mail, shall be deemed to have been given when received;
notices and other communications sent by telecopier shall be deemed to have been
given when sent (except that, if not given during normal business hours for the
recipient, shall be deemed to have been given at the opening of business on the
next business day for the recipient).  Notices and other
communications delivered through electronic communications to the extent
provided in subsection (b) below, shall be effective as provided in such
subsection (b).

    

    (b)           Electronic
Communications.  Notices and other communications to the
Lenders and the L/C Issuer hereunder may be delivered or furnished by electronic
communication (including e-mail and Internet or intranet websites) pursuant to
procedures approved by the Administrative Agent, provided that the
foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to
Article II if
such Lender or the L/C Issuer, as applicable, has notified the Administrative
Agent that it is incapable of receiving notices under such Article by electronic
communication.  The Administrative Agent or the Borrower may, in its
discretion, agree to accept notices and other communications to it hereunder by
electronic communications pursuant to procedures approved by it, provided that
approval of such procedures may be limited to particular notices or
communications.

    
      
         

      

      
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      Unless
the Administrative Agent otherwise prescribes, (i) notices and other
communications sent to an e-mail address shall be deemed received upon the
sender’s receipt of an acknowledgement from the intended recipient (such as by
the “return receipt requested” function, as available, return e-mail or other
written acknowledgement), provided that if such
notice or other communication is not sent during the normal business hours of
the recipient, such notice or communication shall be deemed to have been sent at
the opening of business on the next business day for the recipient, and (ii)
notices or communications posted to an Internet or intranet website shall be
deemed received upon the deemed receipt by the intended recipient at its e-mail
address as described in the foregoing clause (i) of notification that such
notice or communication is available and identifying the website address
therefor.

      

      (c)           The
Platform.  THE PLATFORM IS PROVIDED “AS IS” AND “AS
AVAILABLE.”  THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE
ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE
PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE
BORROWER MATERIALS.  NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR
STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR
PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER
CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER
MATERIALS OR THE PLATFORM.  In no event shall the Administrative Agent
or any of its Related Parties (collectively, the “Agent Parties”) have
any liability to any Loan Party, any Lender, the L/C Issuer or any other Person
for losses, claims, damages, liabilities or expenses of any kind (whether in
tort, contract or otherwise) arising out of the Borrower’s or the Administrative
Agent’s transmission of Borrower Materials through the Internet, except to the
extent that such losses, claims, damages, liabilities or expenses are determined
by a court of competent jurisdiction by a final and nonappealable judgment to
have resulted from the gross negligence or willful misconduct of such Agent
Party; provided, however, that in no
event shall any Agent Party have any liability to any Loan
Party, any Lender, the L/C Issuer or any other Person for indirect, special,
incidental, consequential or punitive damages (as opposed to direct or actual
damages).

    

    

    (d)           Change of Address,
Etc.  Each of the Borrower, the Administrative Agent, the L/C
Issuer and the Swing Line Lender may change its address, telecopier or telephone
number for notices and other communications hereunder by notice to the other
parties hereto.  Each other Lender may change its address, telecopier
or telephone number for notices and other communications hereunder by notice to
the Borrower, the Administrative Agent, the L/C Issuer and the Swing Line
Lender.  In addition, each Lender agrees to notify the Administrative
Agent from time to time to ensure that the Administrative Agent has on record
(i) an effective address, contact name, telephone number, telecopier number and
electronic mail address to which notices and other communications may be sent
and (ii) accurate wire instructions for such Lender.  Furthermore,
each Public Lender agrees to cause at least one individual at or on behalf of
such Public Lender to at all times have selected the “Private Side Information”
or similar designation on the content declaration screen of the Platform in
order to enable such Public Lender or its delegate, in accordance with such
Public Lender’s compliance procedures and applicable Law, including United
States Federal and state securities Laws, to make reference to Borrower
Materials that are not made available through the “Public Side Information”
portion of the Platform and that may contain material non-public information
with respect to the Borrower or its securities for purposes of United States
Federal or state securities laws.

    

    (e)           Reliance by Administrative
Agent, L/C Issuer and Lenders. The Administrative
Agent, the L/C Issuer and the Lenders shall be entitled to rely and act upon any
notices (including telephonic Loan Notices and Swing Line Loan Notices)
purportedly given by or on behalf of any Loan Party even if (i) such notices
were not made in a manner specified herein, were incomplete or were not preceded
or 

    
      
          

      

      
         

        
          
            
            

          

          
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    followed by any other form
of notice specified herein, or (ii) the terms thereof, as understood by the
recipient, varied from any confirmation thereof.  The Loan Parties
shall indemnify the Administrative Agent, the L/C Issuer, each Lender and the
Related Parties of each of them from all losses, costs, expenses and liabilities
resulting from the reliance by such Person on each notice purportedly given by
or on behalf of a Loan Party.  All telephonic notices to and other
telephonic communications with the Administrative Agent may be recorded by the
Administrative Agent, and each of the parties hereto hereby consents to such
recording.

      

      11.03       No Waiver; Cumulative
Remedies;
Enforcement.

      

      No
failure by any Lender, the L/C Issuer or the Administrative Agent to exercise,
and no delay by any such Person in exercising, any right, remedy, power or
privilege hereunder shall operate as a waiver thereof; nor shall any single or
partial exercise of any right, remedy, power or privilege hereunder preclude any
other or further exercise thereof or the exercise of any other right, remedy,
power or privilege.  The rights, remedies, powers and privileges
herein provided are cumulative and not exclusive of any rights, remedies, powers
and privileges provided by law.

      

      Notwithstanding anything to the
contrary contained herein or in any other Loan Document, the authority to
enforce rights and remedies hereunder and under the other Loan Documents against
the Loan Parties or any of them shall be vested exclusively in, and all actions
and proceedings at law in connection with such enforcement shall be instituted
and maintained exclusively by, the Administrative Agent in accordance with Section 9.02 for the
benefit of all the Lenders and the L/C Issuer; provided, however, that the
foregoing shall not prohibit (a) the Administrative Agent from exercising on its
own behalf the rights and remedies that inure to its benefit (solely in its
capacity as Administrative Agent) hereunder and under the other Loan Documents,
(b) the L/C Issuer or the Swing Line Lender from exercising the rights and
remedies that inure to its benefit (solely in its capacity as L/C Issuer or
Swing Line Lender, as the case may be) hereunder and under the other Loan
Documents, (c) any Lender from exercising setoff rights in
accordance with Section 11.08
(subject to the terms of Section 2.13), or (d)
any Lender from filing proofs of claim or appearing and filing pleadings on its
own behalf during the pendency of a proceeding relative to any Loan Party under
any Debtor Relief Law; and provided, further, that if at
any time there is no Person acting as Administrative Agent hereunder and under
the other Loan Documents, then (i) the Required Lenders shall have the rights
otherwise ascribed to the Administrative Agent pursuant to Section 9.02 and (ii)
in addition to the matters set forth in clauses (b), (c) and (d) of the
preceding proviso and subject to Section 2.13, any
Lender may, with the consent of the Required Lenders, enforce any rights and
remedies available to it and as authorized by the Required
Lenders.

    

    

    11.04       Expenses; Indemnity; and
Damage Waiver.

    

    (a)           Costs
and Expenses.  The Loan Parties shall pay (i) all reasonable
out-of-pocket expenses incurred by the Administrative Agent and its Affiliates
(including the reasonable fees, charges and disbursements of counsel for the
Administrative Agent), in connection with the syndication of the credit
facilities provided for herein, the preparation, negotiation, execution,
delivery and administration of this Agreement and the other Loan Documents or
any amendments, modifications or waivers of the provisions hereof or thereof
(whether or not the transactions contemplated hereby or thereby shall be
consummated), (ii) all reasonable out-of-pocket expenses incurred by the L/C
Issuer in connection with the issuance, amendment, renewal or extension of any
Letter of Credit or any demand for payment thereunder and (iii) all
out-of-pocket expenses incurred by the Administrative Agent, any Lender or the
L/C Issuer (including the fees, charges and disbursements of any counsel for the
Administrative Agent, any Lender or the L/C Issuer), and shall pay all fees and
time charges for attorneys who may be employees of the Administrative Agent, any
Lender or the L/C Issuer, in connection with the enforcement or protection of
its rights (A) in connection with this Agreement and the other Loan Documents,
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    (B) in connection with the
Loans made or Letters of Credit issued hereunder, including all such
out-of-pocket expenses incurred during any workout, restructuring or
negotiations in respect of such Loans or Letters of Credit.

    
      

      (b)           Indemnification by the Loan
Parties.  The Loan Parties shall indemnify the Administrative
Agent (and any sub-agent thereof), each Lender and the L/C Issuer, and each
Related Party of any of the foregoing Persons (each such Person being called an
“Indemnitee”)
against, and hold each Indemnitee harmless from, any and all losses, claims,
damages, liabilities and related expenses (including the fees, charges and
disbursements of any counsel for any Indemnitee), and shall indemnify and hold
harmless each Indemnitee from all fees and time charges and disbursements for
attorneys who may be employees of any Indemnitee, incurred by any Indemnitee or
asserted against any Indemnitee by any third party or by the Borrower or any
other Loan Party arising out of, in connection with, or as a result of (i) the
execution or delivery of this Agreement, any other Loan Document or any
agreement or instrument contemplated hereby or thereby, the performance by the
parties hereto of their respective obligations hereunder or thereunder or the
consummation of the transactions contemplated hereby or thereby, or, in the case
of the Administrative Agent (and any sub-agent thereof) and its Related Parties
only, the administration of this Agreement and the other Loan Documents, (ii)
any Loan or Letter of Credit or the use or proposed use of the proceeds
therefrom (including any refusal by the L/C Issuer to honor a demand for payment
under a Letter of Credit if the documents presented in connection with such
demand do not strictly comply with the terms of such Letter of Credit), (iii)
any actual or alleged presence or release of Hazardous Materials on or from any
property owned or operated by a Loan Party or any of its Subsidiaries, or any
Environmental Liability related in any way to a Loan Party or any of its
Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation
or proceeding relating to any of the foregoing, whether based on contract, tort
or any other theory, whether brought by a third party or by the Borrower or any
other Loan Party, and regardless of whether any Indemnitee is a party thereto,
in all cases, whether or not caused by or arising, in whole or in part, out of
the comparative, contributory or sole negligence of the Indemnitee; provided that such
indemnity shall not, as to any Indemnitee, be

    available
to the extent that such losses, claims, damages, liabilities or related expenses
(x) are determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from the gross negligence or willful
misconduct of such Indemnitee or (y) result from a claim brought by the Borrower
or any other Loan Party against an Indemnitee for breach in bad faith of such
Indemnitee’s obligations hereunder or under any other Loan Document, if the
Borrower or such Loan Party has obtained a final and nonappealable judgment in
its favor on such claim as determined by a court of competent
jurisdiction.

    

    (c)           Reimbursement by
Lenders.  To the extent that the Loan Parties for any reason
fail to indefeasibly pay any amount required under subsection (a) or (b) of this
Section to be paid by them to the Administrative Agent (or any sub-agent
thereof), the L/C Issuer or any Related Party of any of the foregoing, each
Lender severally agrees to pay to the Administrative Agent (or any such
sub-agent), the L/C Issuer or such Related Party, as the case may be, such
Lender’s Applicable Percentage (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount,
provided that
the unreimbursed expense or indemnified loss, claim, damage, liability or
related expense, as the case may be, was incurred by or asserted against the
Administrative Agent (or any such sub-agent) or the L/C Issuer in its capacity
as such, or against any Related Party of any of the foregoing acting for the
Administrative Agent (or any such sub-agent) or L/C Issuer in connection with
such capacity.  The obligations of the Lenders under this subsection
(c) are subject to the provisions of Section
2.12(d).

    

    (d)           Waiver of Consequential
Damages, Etc.  To the fullest extent permitted by applicable
law, no Loan Party shall assert, and each Loan Party hereby waives, any claim
against any Indemnitee, on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages)
arising out of, in connection with, or as a result of, this Agreement, any
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    Document or any agreement
or instrument contemplated hereby, the transactions contemplated hereby or
thereby, any Loan or Letter of Credit or the use of the proceeds
thereof.  No Indemnitee referred to in subsection (b) above shall be
liable for any damages arising from the use by unintended recipients of any
information or other materials distributed by it through telecommunications,
electronic or other information transmission systems in connection with this
Agreement or the other Loan Documents or the transactions contemplated hereby or
thereby. 

      

      (e)           Payments.  All
amounts due under this Section shall be payable not later than ten Business Days
after demand therefor.

      

      (f)           Survival.  The
agreements in this Section shall survive the resignation of the Administrative
Agent and the L/C Issuer, the replacement of any Lender, the termination of the
Commitments and the repayment, satisfaction or discharge of all the other
Obligations.

      

      11.05       Payments Set
Aside.

      

      To the
extent that any payment by or on behalf of any Loan Party is made to the
Administrative Agent, the L/C Issuer or any Lender, or the Administrative Agent,
the L/C Issuer or any Lender exercises its right of setoff, and such payment or
the proceeds of such setoff or any part thereof is subsequently invalidated,
declared to be fraudulent or preferential, set aside or required (including
pursuant to any settlement entered into by the Administrative Agent, the L/C
Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or
any other party, in connection with any proceeding under any Debtor Relief Law
or otherwise, then (a) to the extent of such recovery, the obligation or part
thereof originally intended to be satisfied shall be revived and continued in
full force and effect as if such payment had not been made or such setoff had
not occurred, and (b) each Lender and the L/C Issuer severally agrees to pay to
the Administrative Agent upon demand its applicable share (without duplication)
of any amount so

    

     

    recovered
from or repaid by the Administrative Agent, plus interest thereon
from the date of such demand to the date such payment is made at a rate per
annum equal to the applicable Overnight Rate from time to time in effect, in the
applicable currency of such recovery or payment.  The obligations of
the Lenders and the L/C Issuer under clause (b) of the preceding sentence shall
survive the payment in full of the Obligations and the termination of this
Agreement.

    

    11.06       Successors and
Assigns.

    

    (a)           Successors and Assigns
Generally.  The provisions of this Agreement and the other Loan
Documents shall be binding upon and inure to the benefit of the parties hereto
and thereto and their respective successors and assigns permitted hereby, except
that the Borrower may not assign or otherwise transfer any of its rights or
obligations hereunder or thereunder without the prior written consent of the
Administrative Agent and each Lender and no Lender may assign or otherwise
transfer any of its rights or obligations hereunder except (i) to an assignee in
accordance with the provisions of subsection (b) of this Section, (ii) by way of
participation in accordance with the provisions of subsection (d) of this
Section or (iii) by way of pledge or assignment of a security interest subject
to the restrictions of subsection (f) of this Section (and any other attempted
assignment or transfer by any party hereto shall be null and
void).  Nothing in this Agreement, expressed or implied, shall be
construed to confer upon any Person (other than the parties hereto, their
respective successors and assigns permitted hereby, Participants to the extent
provided in subsection (d) of this Section and, to the extent expressly
contemplated hereby, the Related Parties of each of the Administrative Agent,
the L/C Issuer and the Lenders) any legal or equitable right, remedy or claim
under or by reason of this Agreement.

    

    (b)           Assignments by
Lenders.  Any Lender may at any time assign to one or more
assignees all or a portion of its rights and obligations under this Agreement
and the other Loan Documents 

      
        
           

        

        
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    (including all
or a portion of its Commitment and the Loans (including for purposes of this
subsection (b), participations in L/C Obligations and Swing Line Loans) at the
time owing to it); provided
that any such assignment shall be subject to the following conditions:

      

      (i)           Minimum
Amounts.

      

      
        	
                 
      

              	
                 

              	
                    (A)    in the
      case of an assignment of the entire remaining amount of the assigning
      Lender’s Commitment and the Loans at the time owing to it or in the case
      of an assignment to a Lender, an Affiliate of a Lender or an Approved
      Fund, no minimum amount need be assigned;
and

              

      

      

      
        	
                 
      

              	
                 

              	
                    (B)    in any
      case not described in subsection (b)(i)(A) of this Section, the aggregate
      amount of the Commitment (which for this purpose includes Loans
      outstanding thereunder) or, if the Commitment is not then in effect, the
      principal outstanding balance of the Loans of the assigning Lender subject
      to each such assignment, determined as of the date the Assignment and
      Assumption with respect to such assignment is delivered to the
      Administrative Agent or, if “Trade Date” is specified in the Assignment
      and Assumption, as of the Trade Date, shall not be less than
      $5,000,000 in
      the case of an assignment of Revolving Loans and $1,000,000 in the case of
      an assignment of Term Loans unless each of the Administrative Agent and,
      so long as no Event of Default has occurred and is continuing, the
      Borrower otherwise consents (each such consent not to be unreasonably
      withheld or delayed); provided, however, that
      concurrent assignments to members of an Assignee Group and concurrent
      assignments from members of an Assignee Group to a single assignee (or to
      an assignee and members of its Assignee Group) will be treated as a single
      assignment for purposes of determining whether such minimum amount has
      been met;

              

    

    (ii)           Required
Consents.  No consent shall be required for any assignment
except to the extent required by subsection (b)(i)(B) of this Section and, in
addition:

    

    (A)           the
consent of the Borrower (such consent not to be unreasonably withheld or
delayed) shall be required unless (1) an Event of Default has occurred and is
continuing at the time of such assignment or (2) such assignment is to a Lender,
an Affiliate of a Lender or an Approved Fund;

    

    (B)           the
consent of the Administrative Agent (such consent not to be unreasonably
withheld or delayed) shall be required for assignments in respect of (i) any
Term Loan Commitment, Incremental Term Loan Commitment or Revolving Commitment
if such assignment is to a Person that is not a Lender with a Commitment in
respect of the Commitment subject to such assignment, an Affiliate of such
Lender or an Approved Fund with respect to such Lender or (ii) any Term Loan to
a Person that is not a Lender, an Affiliate of a Lender or an Approved
Fund;

    

    (C)           the
consent of the L/C Issuer (such consent not to be unreasonably withheld or
delayed) shall be required for any assignment that increases the obligation of
the assignee to participate in exposure under one or more Letters of Credit
(whether or not then outstanding); and

    

    (D)           the
consent of the Swing Line Lender (such consent not to unreasonably withheld or
delayed) shall be required for any assignment in respect of the Revolving
Commitment if such assignment is to a Person that is not a Lender with a
Revolving 

      
        
           

        

        
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      Commitment, an Affiliate
of such Lender or an Approved Fund with respect to such Lender.

       

      (iii)           Assignment and
Assumption.  The parties to each assignment shall execute and
deliver to the Administrative Agent an Assignment and Assumption, together with
a processing and recordation fee in the amount of $3,500; provided, however, that the
Loan Parties shall have no liability for such fee (except as provided in Section 11.13(a)) and
the Administrative Agent may, in its sole discretion, elect to waive such
processing and recordation fee in the case of any assignment.  The
assignee, if it is not a Lender, shall deliver to the Administrative Agent (A)
an Administrative Questionnaire and (B) a joinder and such other documents
reasonably required by the Administrative Agent to cause such assignee to be a
party to the Intercreditor Agreement.

      

      (iv)           No Assignment to
Borrower.  No such assignment shall be made to the Borrower or
any of the Borrower’s Affiliates or Subsidiaries.

      

      (v)           No Assignment to Natural
Persons.  No such assignment shall be made to a natural
person.

      

      Subject
to acceptance and recording thereof by the Administrative Agent pursuant to
subsection (c) of this Section, from and after the effective date specified in
each Assignment and Assumption, the assignee thereunder shall be a party to this
Agreement and the Intercreditor Agreement and, to the extent of the interest
assigned by such Assignment and Assumption, have the rights and obligations of a
Lender under this Agreement and be subject to the Intercreditor Agreement, and
the assigning Lender thereunder shall, to the extent of the interest assigned by
such Assignment and Assumption, be released from its obligations under this
Agreement and the Intercreditor Agreement  (and, in the case of an
Assignment and Assumption covering all of the assigning Lender’s rights and
obligations under this Agreement, such Lender
shall cease to be a party hereto) but shall continue to be entitled to the
benefits of Sections
3.01, 3.04, 3.05 and 11.04 with respect to
facts and circumstances occurring prior to the effective date of such
assignment.  Upon request, the Borrower (at its expense) shall execute
and deliver a Note to the assignee Lender.  Any assignment or transfer
by a Lender of rights or obligations under this Agreement that does not comply
with this subsection shall be treated for purposes of this Agreement as a sale
by such Lender of a participation in such rights and obligations in accordance
with subsection (d) of this Section.

    

    

    (c)           Register.  The
Administrative Agent, acting solely for this purpose as an agent of the
Borrower, shall maintain at the Administrative Agent’s Office a copy of each
Assignment and Assumption delivered to it and a register for the recordation of
the names and addresses of the Lenders, and the Commitments of, and principal
amounts of the Loans and L/C Obligations owing to, each Lender pursuant to the
terms hereof from time to time (the “Register”).  The
entries in the Register shall be conclusive, and the Borrower, the
Administrative Agent and the Lenders may treat each Person whose name is
recorded in the Register pursuant to the terms hereof as a Lender hereunder for
all purposes of this Agreement, notwithstanding notice to the
contrary.  The Register shall be available for inspection by the
Borrower and any Lender, at any reasonable time and from time to time upon
reasonable prior notice. 

     

       
(d)           Participations.  Any
Lender may at any time, without the consent of, or notice to, the Borrower or
the Administrative Agent, sell participations to any Person (other than a
natural person or the Borrower or any of the Borrower’s Affiliates or
Subsidiaries) (each, a “Participant”)
in all or a portion of such Lender’s rights and/or obligations under this
Agreement (including all or a portion of its Commitment and/or the Loans
(including such Lender’s participations in L/C Obligations and/or Swing Line
Loans) owing to it); provided
that (i) such Lender’s obligations under this Agreement shall remain unchanged,
(ii) such Lender shall remain solely responsible to the other parties hereto for
the performance of such obligations and (iii) the Borrower, the Administrative
Agent, the other Lenders and the L/C Issuer

    
 

    
      
        
           

        

        
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    shall
continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement.  Any agreement
or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement
and to approve any amendment, modification or waiver of any provision of this
Agreement; provided
that such agreement or instrument may provide that such Lender will not, without
the consent of the Participant, agree to any amendment, waiver or other
modification described in clauses (i) through (vii) of the Section
11.01(a) that affects such Participant.  Subject to subsection
(e) of this Section, the Borrower agrees that each Participant shall be entitled
to the benefits of Sections
3.01, 3.04
and 3.05 to
the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to subsection (b) of this Section.  To the extent
permitted by law, each Participant also shall be entitled to the benefits of
Section
11.08 as
though it were a Lender, provided
such Participant agrees to be subject to Section
2.13 as though it were a Lender.

      

      (e)           Limitation on Participant
Rights.  A Participant shall not be entitled to receive any
greater payment under Section 3.01 or 3.04 than the applicable
Lender would have been entitled to receive with respect to the participation
sold to such Participant, unless the sale of the participation to such
Participant is made with the Borrower’s prior written consent.  A
Participant that would be a Foreign Lender if it were a Lender shall not be
entitled to the benefits of Section 3.01 unless
the Borrower is notified of the participation sold to such Participant and such
Participant agrees, for the benefit of the Borrower, to comply with Section 3.01(e) as
though it were a Lender.

      

      (f)           Certain
Pledges.  Any Lender may at any time pledge or assign a
security interest in all or any portion of its rights under this Agreement
(including under its Note, if any) to secure obligations of such Lender,
including any pledge or assignment to secure obligations to a Federal Reserve
Bank; provided
that no such pledge or assignment shall release such Lender from any of its
obligations hereunder or substitute any such pledgee or assignee for such Lender
as a party hereto.

      
        

        (g)           Resignation as L/C Issuer or
Swing Line Lender after Assignment.  Notwithstanding anything
to the contrary contained herein, if at any time Bank of America assigns all of
its Commitment and Loans pursuant to subsection (b) above, Bank of America may,
(i) upon thirty days’ notice to the Borrower and the Lenders, resign as L/C
Issuer and/or (ii) upon thirty days’ notice to the Borrower, resign as Swing
Line Lender.  In the event of any such resignation as L/C Issuer or
Swing Line Lender, the Borrower shall be entitled to appoint from among the
Lenders a successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no
failure by the Borrower to appoint any such successor shall affect the
resignation of Bank of America as L/C Issuer or Swing Line Lender, as the case
may be.  If Bank of America resigns as L/C Issuer, it shall retain all
the rights, powers, privileges and duties of the L/C Issuer hereunder with
respect to all Letters of Credit outstanding as of the effective date of its
resignation as L/C Issuer and all L/C Obligations with respect thereto
(including the right to require the Lenders to make Base Rate Loans or fund risk
participations in Unreimbursed Amounts pursuant to Section
2.03(c)).  If Bank of America resigns as Swing Line Lender, it
shall retain all the rights of the Swing Line Lender provided for hereunder with
respect to Swing Line Loans made by it and outstanding as of the effective date
of such resignation, including the right to require the Lenders to make Base
Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant
to Section
2.04(c).  Upon the appointment of a successor L/C Issuer and/or
Swing Line Lender, (1) such successor shall succeed to and become vested with
all of the rights, powers, privileges and duties of the retiring L/C Issuer or
Swing Line Lender, as the case may be, and (2) the successor L/C Issuer shall
issue letters of credit in substitution for the Letters of Credit, if any,
outstanding at the time of such succession or make other arrangements
satisfactory to Bank of America to effectively assume the obligations of Bank of
America with respect to such Letters of Credit.

      

    

    

    
      
         

      

      
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      11.07       Treatment of Certain
Information; Confidentiality.

      

      Each of
the Administrative Agent, the Lenders and the L/C Issuer agrees to maintain the
confidentiality of the Information (as defined below), except that Information
may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective
partners, directors, officers, employees, agents, advisors and representatives
and to any direct or indirect contractual counterparty (or such contractual
counterparty’s professional advisor) under any Swap Contract relating to Loans
outstanding under this Agreement (it being understood that the Persons to whom
such disclosure is made will be informed of the confidential nature of such
Information and instructed to keep such Information confidential), (b) to the
extent requested by any regulatory authority purporting to have jurisdiction
over it (including any self-regulatory authority, such as the National
Association of Insurance Commissioners), (c) to the extent required by
applicable laws or regulations or by any subpoena or similar legal process, (d)
to any other party hereto, (e) in connection with the exercise of any remedies
hereunder or under any other Loan Document or any action or proceeding relating
to this Agreement or any other Loan Document or the enforcement of rights
hereunder or thereunder, (f) subject to an agreement containing provisions
substantially the same as those of this Section, to (i) any assignee of or
Participant in, or any prospective assignee of or Participant in, any of its
rights or obligations under this Agreement or (ii) any actual or prospective
counterparty (or its advisors) to any swap or derivative transaction relating to
a Loan Party and its obligations, (g) with the consent of the Borrower or (h) to
the extent such Information (x) becomes publicly available other than as a
result of a breach of this Section or (y) becomes available to the
Administrative Agent, any Lender, the L/C Issuer or any of their respective
Affiliates on a nonconfidential basis from a source other than the
Borrower.

      

      For
purposes of this Section, “Information” means
all information received from a Loan Party or any Subsidiary relating to the
Loan Parties or any Subsidiary or any of their respective businesses, other than
any such information that is available to the Administrative Agent, any Lender
or the L/C Issuer on a nonconfidential basis prior to disclosure by such Loan
Party or any Subsidiary.  Any Person required to maintain
the confidentiality of Information as provided in this Section shall be
considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such
Information as such Person would accord to its own confidential
information.

    

    

    Each of
the Administrative Agent, the Lenders and the L/C Issuer acknowledges that (a)
the Information may include material non-public information concerning the
Borrower or a Subsidiary, as the case may be, (b) it has developed compliance
procedures regarding the use of material non-public information and (c) it will
handle such material non-public information in accordance with applicable Law,
including United States Federal and state securities Laws.

    

    11.08       Set-off.

    

    If an
Event of Default shall have occurred and be continuing, each Lender, the L/C
Issuer and each of their respective Affiliates is hereby authorized at any time
and from time to time, after obtaining the prior written consent of the
Administrative Agent, to the fullest extent permitted by applicable law, to set
off and apply any and all deposits (general or special, time or demand,
provisional or final, in whatever currency) at any time held and other
obligations (in whatever currency) at any time owing by such Lender, the L/C
Issuer or any such Affiliate to or for the credit or the account of the Borrower
or any other Loan Party against any and all of the obligations of the Borrower
or such Loan Party now or hereafter existing under this Agreement or any other
Loan Document to such Lender or the L/C Issuer, irrespective of whether or not
such Lender or the L/C Issuer shall have made any demand under this Agreement or
any other Loan Document and although such obligations of the Borrower or such
Loan Party may be contingent or unmatured or are owed to a branch or office of
such Lender or the L/C Issuer different from the branch or office holding such
deposit or obligated on such indebtedness.  The rights of

    
 

    
      
        
           

        

        
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    each Lender, the L/C
Issuer and their respective Affiliates under this Section are in addition to
other rights and remedies (including other rights of setoff) that such Lender,
the L/C Issuer or their respective Affiliates may have.  Each Lender
and the L/C Issuer agrees to notify the Borrower and the Administrative Agent
promptly after any such setoff and application, provided
that the failure to give such notice shall not affect the validity of such
setoff and application.

    
      

      11.09       Interest Rate
Limitation.

      

      Notwithstanding
anything to the contrary contained in any Loan Document, the interest paid or
agreed to be paid under the Loan Documents shall not exceed the maximum rate of
non-usurious interest permitted by applicable Law (the “Maximum
Rate”).  If the Administrative Agent or any Lender shall
receive interest in an amount that exceeds the Maximum Rate, the excess interest
shall be applied to the principal of the Loans or, if it exceeds such unpaid
principal, refunded to the Borrower.  In determining whether the
interest contracted for, charged, or received by the Administrative Agent or a
Lender exceeds the Maximum Rate, such Person may, to the extent permitted by
applicable Law, (a) characterize any payment that is not principal as an
expense, fee, or premium rather than interest, (b) exclude voluntary prepayments
and the effects thereof, and (c) amortize, prorate, allocate, and spread in
equal or unequal parts the total amount of interest throughout the contemplated
term of the Obligations hereunder.

      

      11.10       Counterparts; Integration;
Effectiveness.

      

      This
Agreement may be executed in counterparts (and by different parties hereto in
different counterparts), each of which shall constitute an original, but all of
which when taken together shall constitute a single contract.  This
Agreement and the other Loan Documents constitute the entire contract among the
parties relating to the subject matter hereof and supersede any and all previous
agreements and understandings, oral or written, relating to the subject matter
hereof.  Except as provided in Section 5.01, this
Agreement shall become effective when it shall have been executed by the
Administrative Agent and when the
Administrative Agent shall have received counterparts hereof that, when taken
together, bear the signatures of each of the other parties
hereto.  Delivery of an executed counterpart of a signature page of
this Agreement by telecopy or other electronic imaging means shall be effective
as delivery of a manually executed counterpart of this
Agreement.

    

    

    11.11       Survival of Representations
and Warranties.

    

    All
representations and warranties made hereunder and in any other Loan Document or
other document delivered pursuant hereto or thereto or in connection herewith or
therewith shall survive the execution and delivery hereof and
thereof.  Such representations and warranties have been or will be
relied upon by the Administrative Agent and each Lender, regardless of any
investigation made by the Administrative Agent or any Lender or on their behalf
and notwithstanding that the Administrative Agent or any Lender may have had
notice or knowledge of any Default at the time of any Credit Extension, and
shall continue in full force and effect as long as any Loan or any other
Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit
shall remain outstanding.

    

    11.12       Severability.

    

    If any
provision of this Agreement or the other Loan Documents is held to be illegal,
invalid or unenforceable, (a) the legality, validity and enforceability of the
remaining provisions of this Agreement and the other Loan Documents shall not be
affected or impaired thereby and (b) the parties shall endeavor in good faith
negotiations to replace the illegal, invalid or unenforceable provisions with
valid provisions the economic effect of which comes as close as possible to that
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    provisions.  The
invalidity of a provision in a particular jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction.

      

      11.13       Replacement of
Lenders.

      

      If (i)
any Lender makes a determination that the maintaining or making of Eurocurrency
Rate Loans are unlawful under Section 3.02 or
requests compensation under Section 3.04, (ii)
the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 3.01, or
(iii) a Lender (a “Non-Consenting
Lender”) does not consent to a proposed change, waiver, discharge or
termination with respect to any Loan Document that has been approved by the
Required Lenders as provided in Section 11.01 but
requires unanimous consent of all Lenders or all Lenders directly affected
thereby (as applicable) and, or (iv) any Lender is a Defaulting Lender, then the
Borrower may, at its sole expense and effort, upon notice to such Lender and the
Administrative Agent, require such Lender to assign and delegate, without
recourse (in accordance with and subject to the restrictions contained in, and
consents required by, Section 11.06), all
of its interests, rights and obligations under this Agreement and the related
Loan Documents to an assignee that shall assume such obligations (which assignee
may be another Lender, if a Lender accepts such assignment), provided
that:

      

      (a)           the
Borrower shall have paid to the Administrative Agent the assignment fee
specified in Section
11.06(b);

      

      (b)           such
Lender shall have received payment of an amount equal to the outstanding
principal of its Loans and L/C Advances, accrued interest thereon, accrued fees
and all other amounts payable to it hereunder and under the other Loan Documents
(including any amounts under Section 3.05) from
the assignee (to the extent of such outstanding principal and accrued interest
and fees) or the Borrower (in the case of all other
amounts);

    (c)           in
the case of any such assignment resulting from a claim for compensation under
Section 3.04 or
a determination that the maintaining or making of Eurocurrency Rate Loans are
unlawful under Section
3.02 or payments required to be made pursuant to Section 3.01, such
assignment will result in a reduction in such compensation or payments
thereafter;

    

    (d)           such
assignment does not conflict with applicable Laws; and

    

    (e)           in
the case of any such assignment resulting from a Non-Consenting Lender’s failure
to consent to a proposed change, waiver, discharge or termination with respect
to any Loan Document, the applicable replacement bank, financial institution or
Fund consents to the proposed change, waiver, discharge or termination; provided that the
failure by such Non-Consenting Lender to execute and deliver an Assignment and
Assumption shall not impair the validity of the removal of such Non-Consenting
Lender and the mandatory assignment of such Non-Consenting Lender’s Commitments
and outstanding Loans and participations in L/C Obligations and Swing Line Loans
pursuant to this Section 11.13 shall
nevertheless be effective without the execution by such Non-Consenting Lender of
an Assignment and Assumption.

    

    A Lender
shall not be required to make any such assignment or delegation if, prior
thereto, as a result of a waiver by such Lender or otherwise, the circumstances
entitling the Borrower to require such assignment and delegation cease to
apply.

     

    
 

    
      
        
        

      

      
        99

        
          

        

      

      
        
        

      

    

     

    11.14       Governing Law; Jurisdiction;
Etc.

    

    (a)           GOVERNING
LAW.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF MISSOURI WITHOUT REGARD TO CONFLICTS OF
LAW PRINCIPLES THAT WOULD REQUIRE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION.

    

    (b)           SUBMISSION TO
JURISDICTION.  THE BORROWER AND EACH OTHER LOAN PARTY
IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE
NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF MISSOURI SITTING IN ST.
LOUIS, MISSOURI AND OF THE UNITED STATES DISTRICT COURT OF THE EASTERN DISTRICT
OF MISSOURI, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN
DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE
PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT
OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH MISSOURI
STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH
FEDERAL COURT.  EACH OF THE PARTIES HERETO AGREES THAT A FINAL
JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE
ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER
PROVIDED BY LAW.  NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN
DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR THE
L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS
AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ANY OTHER LOAN
PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

    

    (c)           WAIVER OF
VENUE.  THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND
UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF
VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT
OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS
SECTION.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM
TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

    

    (d)           SERVICE OF
PROCESS.  EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF
PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION
11.02.  NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY
PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE
LAW.

    

    11.15       Waiver of Right to Trial by
Jury.

    

    EACH
PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED
ON CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY HERETO (A)
CERTIFIES THAT NO REPRESENTATIVE, 

     

     

    
      
        
        

      

      
        100

        
          

        

      

      
        
        

      

    

     

    AGENT OR
ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH
OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE
BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG
OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION.

    

    11.16       Electronic Execution of
Assignments and Certain Other Documents.

    

    The words
“execution,” “signed,” “signature” and words of like import in any Assignment
and Assumption or in any amendment or other modification hereof (including
waivers and consents) shall be deemed to include electronic signatures or the
keeping of records in electronic form, each of which shall be of the same legal
effect, validity or enforceability as a manually executed signature or the use
of a paper-based recordkeeping system, as the case may be, to the extent and as
provided for in any applicable law, including the Federal Electronic Signatures
in Global and National Commerce Act, the New York State Electronic Signatures
and Records Act, or any other similar state laws based on the Uniform Electronic
Transactions Act.

    

    11.17       USA Patriot
Act.

    

    Each
Lender that is subject to the Act (as hereinafter defined) and the
Administrative Agent (for itself and not on behalf of any Lender) hereby
notifies the Borrower that pursuant to the requirements of the USA Patriot Act
(Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required
to obtain, verify and record information that identifies the Borrower, which
information includes the name and address of the Borrower and other information
that will allow such Lender or the Administrative Agent, as applicable, to
identify the Borrower in accordance with the Act. The Borrower shall, promptly
following a request by the Administrative Agent or any Lender, provide all
documentation and other information that the Administrative Agent or such Lender
requests in order to comply with its ongoing obligations under applicable “know
your customer” and anti-money laundering rules and regulations, including the
Act.

     

    
      11.18       No Advisory or Fiduciary
Relationship.

      

      In
connection with all aspects of each transaction contemplated hereby (including
in connection with any amendment, waiver or other modification hereof or of any
other Loan Document), the Borrower acknowledges and agrees, and acknowledges its
Affiliates’ understanding, that: (a)(i) the arranging and other services
regarding this Agreement provided by the Administrative Agent and BAS, are
arm’s-length commercial transactions between the Borrower and its Affiliates, on
the one hand, and the Administrative Agent and BAS, on the other hand, (ii) the
Borrower has consulted its own legal, accounting, regulatory and tax advisors to
the extent it has deemed appropriate, and (iii) the Borrower is capable of
evaluating, and understands and accepts, the terms, risks and conditions of the
transactions contemplated hereby and by the other Loan Documents; (b)(i) the
Administrative Agent and BAS each is and has been acting solely as a principal
and, except as expressly agreed in writing by the relevant parties, has not
been, is not and will not be acting as an advisor, agent or fiduciary, for the
Borrower or any of Affiliates or any other Person and (ii) neither the
Administrative Agent nor BAS has any obligation to the Borrower or any of its
Affiliates with respect to the transactions contemplated hereby except those
obligations expressly set forth herein and in the other Loan Documents; and (c)
the Administrative Agent and BAS and their respective Affiliates may be engaged
in a broad range of transactions that involve interests that differ from those
of the Borrower and its Affiliates, and neither the Administrative Agent nor BAS
has any obligation to disclose any of such interests to the Borrower or its
Affiliates.  To the fullest extent permitted by law, the Borrower
hereby waives and releases, any claims that it may have against the
Administrative Agent or 

    

    
      
         

      

      
        101

        
          

        

      

      
         

      

    

    

    BAS with
respect to any breach or alleged breach of agency or fiduciary duty in
connection with any aspect of any transaction contemplated hereby.

    

    11.19       STATUTORY NOTICE – ORAL
COMMITMENTS.

    

    THE
FOLLOWING NOTICE IS GIVEN PURSUANT TO SECTION 432.047 OF THE MISSOURI REVISED
STATUTES; NOTHING CONTAINED IN SUCH NOTICE SHALL BE DEEMED TO LIMIT OR MODIFY
THE TERMS OF THE LOAN DOCUMENTS. AS USED HEREIN, "BORROWER(S)" MEANS EACH LOAN
PARTY, "CREDITOR" MEANS THE ADMINISTRATIVE AGENT, THE L/C ISSUER, THE SWING LINE
LENDER AND EACH LENDER AND EACH OF "THE CREDIT AGREEMENT" AND "THIS WRITING"
MEANS THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS:

    

    ORAL
AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR FROM
ENFORCING REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT
ARE NOT ENFORCEABLE, REGARDLESS OF THE LEGAL THEORY UPON WHICH IT IS BASED THAT
IS IN ANY WAY RELATED TO THE CREDIT AGREEMENT.  TO PROTECT YOU
(BORROWER(S)) AND US (CREDITOR) FROM MISUNDERSTANDING OR DISAPPOINTMENT, ANY
AGREEMENTS WE REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS WRITING, WHICH
IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN US, EXCEPT AS
WE MAY LATER AGREE IN WRITING TO MODIFY IT.

    

    THE LOAN
PARTIES ACKNOWLEDGE THAT THERE ARE NO SUCH ORAL AGREEMENTS.

    

    11.20       Time of the
Essence.

    

    Time is of the essence of the Loan
Documents.

    

    

    [SIGNATURE
PAGES FOLLOW]

    

    
      
         

      

      
        102

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the
parties hereto have caused this Agreement to be duly executed as of the date
first above written.

     

     

    
      
        	 BORROWER:	
                INSITUFORM
      TECHNOLOGIES, INC., 

                a
      Delaware corporation

                 

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/
      David F. Morris	 
	 	 	Name: 
      David F.
      Morris	 
	 	 	
                Title:   
      Senior Vice President, General Counsel 

                &
      Chief Administrative Officer

              	 
	 	 	 	 
	 	 	 	 

      

      
        	
                 GUARANTORS:

                 

                 

              	
                INSITUFORM TECHNOLOGIES USA, INC., 

                a
      Delaware corporation

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/
      David F. Morris	 
	 	 	Name: 
      David F. Morris	 
	 	 	Title:  
      Senior Vice President &
      Chief Administrative Officer	 
	 	 	 	 
	 	 	 	 

      

      
        	 	
                INA
      ACQUISITION CORP., 

                a
      Delaware corporation

                 

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/
      David F. Morris	 
	 	 	Name: 
      David F. Morris	 
	 	 	Title:   
      Senior Vice President &
      Chief Administrative Officer	 
	 	 	 	 
	 	 	 	 

      

      
        	 	
                
                  ITI
      INTERNATIONAL SERVICES, INC., 

                  a
      Delaware corporation

                

                 

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/
      David F. Morris	 
	 	 	Name: 
      David F. Morris	 
	 	 	Title:   
      Senior Vice President &
      Chief Administrative Officer	 
	 	 	 	 
	 	 	 	 

      

      
        	 	
                
                  MISSISSIPPI
      TEXTILES CORPORATION, 

                  a
      Mississippi corporation

                

                 

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/
      David F. Morris	 
	 	 	Name: 
      David F. Morris	 
	 	 	Title:   
      Senior Vice President &
      Chief Administrative Officer	 
	 	 	 	 
	 	 	 	 

      

      
        	 	
                
                  AFFHOLDER,
      INC., 

                  a
      Missouri corporation, 

                

                 

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/
      David F. Morris	 
	 	 	Name: 
      David F. Morris	 
	 	 	Title:   
      Senior Vice President &
      Chief Administrative Officer	 
	 	 	 	 

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    
      	 	 	 	 

      
        	
                 

                 

                 

              	
                
                  THE
      BAYOU COMPANIES, INC., 

                  a
      Delaware corporation

                

                 

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/
      David F. Morris	 
	 	 	Name: 
      David F. Morris	 
	 	 	Title:  
      Senior Vice President &
      Chief Administrative Officer	 
	 	 	 	 
	 	 	 	 

      

      
        	 	
                
                  KINSEL
      INDUSTRIES, INC., 

                  a
      Texas corporation

                

                 

                 

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/
      David F. Morris	 
	 	 	Name: 
      David F. Morris	 
	 	 	Title:   
      Senior Vice President &
      Chief Administrative Officer	 
	 	 	 	 
	 	 	 	 

      

      
        	 	
                
                  
                    CCSI
      MANAGEMENT, LLC, 

                    a
      Texas limited liability company

                  

                   

                

                 

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/
      David F. Morris	 
	 	 	Name: 
      David F. Morris	 
	 	 	Title:   
      Senior Vice President &
      Chief Administrative Officer	 
	 	 	 	 
	 	 	 	 

      

      
        	 	
                
                  
                    COMMERCIAL
      COATING SERVICES INTERNATIONAL, LTD., 

                    a
      Texas limited partnership

                  

                   

                

                 

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/
      David F. Morris	 
	 	 	Name: 
      David F. Morris	 
	 	 	Title:   
      Senior Vice President &
      Chief Administrative Officer	 
	 	 	 	 
	 	 	 	 

      

      
        	 	
                
                  
                    BAYOU
      WELDING WORKS, LLC, 

                    a
      Louisiana limited liability company

                  

                   

                

                 

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/
      David F. Morris	 
	 	 	Name: 
      David F. Morris	 
	 	 	Title:   
      Senior Vice President &
      Chief Administrative Officer	 
	 	 	 	 

      

    

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    
      
        
          
            
              	ADMINISTRATIVE
      

                      AGENT: 

                    	
                      BANK
      OF AMERICA, N.A., 

                      as
      Administrative Agent

                       

                    	 
	 	 	 	 
	
                       

                    	
                      By:
      

                    	/s/ 
      Michael Brashler	 
	 	 	Name: 
      Michael Brashler	 
	 	 	Title:   
      Vice President 	 

            

             

            	 	 	 	 

          

        

      

      
        	 LENDERS:	
                BANK
      OF AMERICA, N.A., 

                as
      a Lender, Swing Line Lender and L/C Issuer

                 

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ 
      Stephen Bode	 
	 	 	Name: 
      Stephen Bode	 
	 	 	Title:   
      Senior Vice President	 

         

        	 	 	 	 

      

      
        	 	
                FIFTH
      THIRD BANK, A MICHIGAN BANKING CORPORATION,  

                as
      a Lender

                 

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ Traci
      L. Dodson	 
	 	 	Name: 
      Traci L. Dodson	 
	 	 	Title:   
      Vice President	 

      

      
      

    

    
      
        
        

      

      	 	 	 	 

      
        	 	
                U.S.
      BANK, NATIONAL ASSOCIATION

                as
      a Lender

                 

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ Heather
      N. Hinkelman	 
	 	 	Name: 
      Heather N. Hinkelman	 
	 	 	Title:   
      Vice President	 

      

      
         

        	 	 	 	 

        
          	 	
                  COMPASS
      BANK, 

                  as
      a Lender

                   

                	 
	 	 	 	 
	
                   

                	
                  By:
      

                	/s/ Key
      Coker	 
	 	 	Name: 
      Key Coker	 
	 	 	Title:   
      Managing Director	 

        

        
        

                     

        
          	 	 	 	 

        

        
          	 	
                  JPMORGAN
      CHASE BANK, N.A., 

                  as
      a Lender

                   

                	 
	 	 	 	 
	
                   

                	
                  By:
      

                	/s/ Donna
      B. Kirtian	 
	 	 	Name: 
      Donna B. Kirtian	 
	 	 	Title:   
      Vice President	 

        

         

          	 	 	 	 

          
            	 	
                    ASSOCIATED
      BANK, N.A.

                    as
      a Lender

                     

                  	 
	 	 	 	 
	
                     

                  	
                    By:
      

                  	/s/ Mark
      Weitekamp	 
	 	 	Name: 
      Mark Weitekamp	 
	 	 	Title:   
      Vice President	 

          

          
             

            	 	 	 	 

            
              	 	
                      CAPITAL
      ONE, N.A.

                      as
      a Lender

                       

                    	 
	 	 	 	 
	
                       

                    	
                      By:
      

                    	/s/ Anne
      Marie Zima	 
	 	 	Name: 
      Anne Marie Zima	 
	 	 	Title:   
      Vice President	 
	 	 	 	 

            

            
               

            

          

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

    

    Exhibit
A

    

    [FORM
OF]

    LOAN
NOTICE

    

    Date:  __________,
20___

    

    To:          Bank
of America, N.A., as Administrative Agent

    

    
      	
              Re:

            	
              Credit
      Agreement dated as of March 31, 2009 (as amended, modified, supplemented
      or extended from time to time, the “Credit
      Agreement”) among Insituform Technologies, Inc., a Delaware
      corporation (the “Borrower”), the
      Guarantors from time to time party thereto, the Lenders from time to time
      party thereto and Bank of America, N.A., as Administrative Agent, Swing
      Line Lender and L/C Issuer.  Capitalized terms used but not
      otherwise defined herein have the meanings provided in the Credit
      Agreement.

            

    

    

    Ladies
and Gentlemen:

    

    1.            
The undersigned hereby requests (select one):

    

     o A Borrowing of
Revolving
Loans                                          o A conversion or
continuation of Revolving Loans

     o A Borrowing of the Term
Loan                                               o A conversion or
continuation of the Term Loan

    

    2.            
On _______________, 20___ (which is a Business Day).

    

    3.          
  In the amount of $__________.

    

    4.         
   Type of Loan requested (select one):

    

     o Eurodollar Rate
Loan                                                       
        o    Base Rate Loan

    

    5.            
Applicable Currency:    ______________________

     

    6.           
 For Eurodollar Rate Loans: with an Interest Period of __________
month[s]1.

    

    The
Borrower hereby represents and warrants that (a) after giving effect to any
Borrowing of Revolving Loans, (i) the Total Revolving Outstandings shall not
exceed the Aggregate Revolving Commitments, (ii) the aggregate Outstanding
Amount of the Revolving Loans of any Lender, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all L/C Obligations plus such Lender’s
Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall
not exceed such Lender’s Revolving Commitment and (iii) the aggregate
Outstanding Amount of all Revolving Loans denominated in Alternative Currencies
shall not exceed the Alternative Currency Sublimit and (b) each of the
conditions set forth in Section 5.02 of the
Credit Agreement has been satisfied on and as of the date of such Borrowing,
conversion or continuation.

    

                    INSITUFORM
TECHNOLOGIES, INC.,

                    a Delaware
corporation

    

                    By:   ______________________________                                                  

                    Name:

                    Title:

    

      

    

      
      1 One,
two, three or six months.

       

    

    
      
        
           

           

        

         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
B

    

    [FORM
OF]

    SWING
LINE LOAN NOTICE

    

    Date:
__________, 20__

    

    To:         
Bank of America, N.A., as Swing Line Lender

    

    Cc:          Bank
of America, N.A., as Administrative Agent

    

    
      	
              Re:

            	
              Credit
      Agreement dated as of March 31, 2009 (as amended, modified, supplemented
      or extended from time to time, the “Credit
      Agreement”) among Insituform Technologies, Inc., a Delaware
      corporation (the “Borrower”), the
      Guarantors from time to time party thereto, the Lenders from time to time
      party thereto and Bank of America, N.A., as Administrative Agent, Swing
      Line Lender and L/C Issuer.  Capitalized terms used but not
      otherwise defined herein have the meanings provided in the Credit
      Agreement.

            

    

    

    Ladies
and Gentlemen:

    

    1.       
    The undersigned hereby requests a Swing Line
Loan.

    

    2.          
 On __________, 20__ (a Business Day).

    

    3.          
  In the amount of  $__________.

    

    With
respect to such Borrowing of Swing Line Loans, the Borrower hereby represents
and warrants that (a) after giving effect to such Borrowing of Swing Line Loans,
(i) the Total Revolving Outstandings shall not exceed the Aggregate Revolving
Commitments, and (ii) the aggregate Outstanding Amount of the Revolving Loans of
any Lender, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all L/C Obligations plus such Lender’s
Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall
not exceed such Lender’s Revolving Commitment and (b) each of the conditions set
forth in Section
5.02 of the Credit Agreement has been satisfied on and as of the date of
such Borrowing of Swing Line Loans.

    

    

                        INSITUFORM
TECHNOLOGIES, INC.,

                        a Delaware
corporation

    

                        By:  __________________________                                                  

                        Name:

                        Title:

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
C

    

    [FORM
OF]

    REVOLVING
NOTE

    

    _________________

    

    FOR VALUE
RECEIVED, the undersigned (the “Borrower”), hereby
promises to pay to _____________________ or registered assigns (the “Lender”), in
accordance with the provisions of the Credit Agreement (as hereinafter defined),
the principal amount of each Revolving Loan from time to time made by the Lender
to the Borrower under that certain Credit Agreement dated as of March 31, 2009
(as amended, modified, supplemented or extended from time to time, the “Credit Agreement”)
among the Borrower, the Guarantors from time to time party thereto, the Lenders
from time to time party thereto and Bank of America, N.A., as Administrative
Agent, Swing Line Lender and L/C Issuer.  Capitalized terms used but
not otherwise defined herein have the meanings provided in the Credit
Agreement.

    

    The
Borrower promises to pay interest on the unpaid principal amount of each
Revolving Loan from the date of such Revolving Loan until such principal amount
is paid in full, at such interest rates and at such times as provided in the
Credit Agreement.  Except with respect to principal and interest on
Revolving Loans denominated in an Alternative Currency, all payments of
principal and interest shall be made to the Administrative Agent for the account
of the Lender in Dollars in Same Day Funds at the Administrative Agent’s
Office.  If any amount is not paid in full when due hereunder, such
unpaid amount shall bear interest, to be paid upon demand, from the due date
thereof until the date of actual payment (and before as well as after judgment)
computed at the per annum rate set forth in the Credit Agreement.

    

    This
Revolving Note is one of the Revolving Notes referred to in the Credit
Agreement, is entitled to the benefits thereof and may be prepaid in whole or in
part subject to the terms and conditions provided therein.  Upon the
occurrence and continuation of one or more of the Events of Default specified in
the Credit Agreement, all amounts then remaining unpaid on this Revolving Note
shall become, or may be declared to be, immediately due and payable all as
provided in the Credit Agreement.  Revolving Loans made by the Lender
shall be evidenced by one or more loan accounts or records maintained by the
Lender in the ordinary course of business. The Lender may also attach schedules
to this Revolving Note and endorse thereon the date, amount and maturity of its
Revolving Loans and payments with respect thereto.

    

    The
Borrower, for itself, its successors and assigns, hereby waives diligence,
presentment, protest and demand and notice of protest, demand, dishonor and
nonpayment of this Revolving Note.

    

    THIS
REVOLVING NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF MISSOURI.

    

                        INSITUFORM
TECHNOLOGIES, INC.,

                        a Delaware
corporation

    

                        By:    _________________________                                                  

                        Name:

                        Title:

    

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
2.11(a)(ii)

    

    [FORM
OF]

    SWING
LINE NOTE

    

    _________________

    

    FOR VALUE
RECEIVED, the undersigned (the “Borrower”), hereby
promises to pay to BANK OF AMERICA, N.A. or registered assigns (the “Swing Line Lender”),
in accordance with the provisions of the Credit Agreement (as hereinafter
defined), the principal amount of each Swing Line Loan from time to time made by
the Swing Line Lender to the Borrower under that certain Credit Agreement dated
as of March 31, 2009 (as amended, modified, supplemented or extended from time
to time, the “Credit
Agreement”) among the Borrower, the Guarantors from time to time party
thereto, the Lenders from time to time party thereto and Bank of America, N.A.,
as Administrative Agent, Swing Line Lender and L/C
Issuer.  Capitalized terms used but not otherwise defined herein have
the meanings provided in the Credit Agreement.

    

    The
Borrower promises to pay interest on the unpaid principal amount of each Swing
Line Loan from the date of such Swing Line Loan until such principal amount is
paid in full, at such interest rates and at such times as provided in the Credit
Agreement.  Except as otherwise provided in Section 2.05(f) of
the Credit Agreement, all payments of principal and interest shall be made to
the Administrative Agent for the account of the Swing Line Lender in Dollars in
Same Day Funds at the Administrative Agent’s Office.  If any amount is
not paid in full when due hereunder, such unpaid amount shall bear interest, to
be paid upon demand, from the due date thereof until the date of actual payment
(and before as well as after judgment) computed at the per annum rate set forth
in the Credit Agreement.

    

    This
Swing Line Note is the Swing Line Note referred to in the Credit Agreement, is
entitled to the benefits thereof and may be prepaid in whole or in part subject
to the terms and conditions provided therein.  Upon the occurrence and
continuation of one or more of the Events of Default specified in the Credit
Agreement, all amounts then remaining unpaid on this Swing Line Note shall
become, or may be declared to be, immediately due and payable all as provided in
the Credit Agreement.  Swing Line Loans made by the Swing Line Lender
shall be evidenced by one or more loan accounts or records maintained by the
Lender in the ordinary course of business. The Swing Line Lender may also attach
schedules to this Swing Line Note and endorse thereon the date, amount and
maturity of its Swing Line Loans and payments with respect thereto.

    

    The
Borrower, for itself, its successors and assigns, hereby waives diligence,
presentment, protest and demand and notice of protest, demand, dishonor and
nonpayment of this Swing Line Note.

    

    THIS
SWING LINE NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF MISSOURI.

    

    

                        INSITUFORM
TECHNOLOGIES, INC.,

                        a Delaware
corporation

    

                        By:  __________________________                                                    

                        Name:

                        Title:

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
2.11(a)(iii)

    

    [FORM
OF]

    TERM
NOTE

    

    _________________

    

    FOR VALUE
RECEIVED, the undersigned (the “Borrower”), hereby
promises to pay to _____________________ or registered assigns (the “Lender”), in
accordance with the provisions of the Credit Agreement (as hereinafter defined),
the principal amount of the Term Loan made by the Lender to the Borrower under
that certain Credit Agreement dated as of March 31, 2009 (as amended, modified,
supplemented or extended from time to time, the “Credit Agreement”)
among the Borrower, the Guarantors from time to time party thereto, the Lenders
from time to time party thereto and Bank of America, N.A., as Administrative
Agent, Swing Line Lender and L/C Issuer.  Capitalized terms used but
not otherwise defined herein have the meanings provided in the Credit
Agreement.

    

    The
Borrower promises to pay interest on the unpaid principal amount of the Term
Loan from the date of the Term Loan until such principal amount is paid in full,
at such interest rates and at such times as provided in the Credit
Agreement.  All payments of principal and interest shall be made to
the Administrative Agent for the account of the Lender in Dollars in Same Day
Funds at the Administrative Agent’s Office.  If any amount is not paid
in full when due hereunder, such unpaid amount shall bear interest, to be paid
upon demand, from the due date thereof until the date of actual payment (and
before as well as after judgment) computed at the per annum rate set forth in
the Credit Agreement.

    

    This Term
Note is one of the Term Notes referred to in the Credit Agreement, is entitled
to the benefits thereof and may be prepaid in whole or in part subject to the
terms and conditions provided therein.  Upon the occurrence and
continuation of one or more of the Events of Default specified in the Credit
Agreement, all amounts then remaining unpaid on this Term Note shall become, or
may be declared to be, immediately due and payable all as provided in the Credit
Agreement.  The Term Loan made by the Lender shall be evidenced by one
or more loan accounts or records maintained by the Lender in the ordinary course
of business. The Lender may also attach schedules to this Term Note and endorse
thereon the date, amount and maturity of the Term Loan and payments with respect
thereto.

    

    The
Borrower, for itself, its successors and assigns, hereby waives diligence,
presentment, protest and demand and notice of protest, demand, dishonor and
nonpayment of this Term Note.

    

    THIS TERM
NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF MISSOURI.

    

                        INSITUFORM
TECHNOLOGIES, INC.,

                        a Delaware
corporation

    

                        By:  __________________________                                                    

                        Name:

                        Title:

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
E

    

    [FORM
OF]

    COMPLIANCE
CERTIFICATE

    

    Financial
Statement Date: __________, 20___

    

    To:          Bank
of America, N.A., as Administrative Agent

    

    
      	
              Re:

            	
              Credit
      Agreement dated as of March 31, 2009 (as amended, modified, supplemented
      or extended from time to time, the “Credit
      Agreement”) among Insituform Technologies, Inc., a Delaware
      corporation (the “Borrower”), the
      Guarantors from time to time party thereto, the Lenders from time to time
      party thereto and Bank of America, N.A., as Administrative Agent, Swing
      Line Lender and L/C Issuer.  Capitalized terms used but not
      otherwise defined herein have the meanings provided in the Credit
      Agreement.

            

    

    

    Ladies
and Gentlemen:

    

    The
undersigned Responsible Officer hereby certifies as of the date hereof that
he/she is the _______________ of the Borrower, and that, in his/her capacity as
such, he/she is authorized to execute and deliver this Compliance Certificate to
the Administrative Agent on the behalf of the Borrower, and that:

    

    [Use following paragraph 1 for
fiscal
year-end financial
statements:]

    

    
      	
              1.

            	
              [Attached hereto as
      Schedule 1 are the][The] year-end
      audited financial statements required by Section 7.01(a) of
      the Credit Agreement for the fiscal year of the Borrower ended as of the
      above date, together with the report and opinion of an independent
      certified public accountant required by such section [have been electronically
      delivered to the Administrative Agent pursuant to the conditions set forth
      in Section
      7.02 of the Credit
      Agreement].

            

    

    

    [Use following paragraph 1 for
fiscal
quarter-end financial
statements:]

    

    
      	
              1.

            	
              [Attached hereto as
      Schedule 1 are the][The] unaudited
      financial statements required by Section 7.01(b) of
      the Credit Agreement for the fiscal quarter of the Borrower ended as of
      the above date [have been
      electronically delivered to the Administrative Agent pursuant to the
      conditions set forth in Section
      6.02 of the Credit
      Agreement].  Such financial statements fairly present in
      all material respects the financial condition, results of operations and
      cash flows of the Borrower and its Subsidiaries in accordance with GAAP as
      at such date and for such period, subject only to normal year-end audit
      adjustments and the absence of
footnotes.

            

    

    

    
      	
              2.

            	
              The
      undersigned has reviewed and is familiar with the terms of the Credit
      Agreement and has made, or has caused to be made, a detailed review of the
      transactions and condition (financial or otherwise) of the Borrower during
      the accounting period covered by the attached financial
      statements.

            

    

    

    
      	
              3.

            	
              A
      review of the activities of the Borrower during such fiscal period has
      been made under the supervision of the undersigned with a view to
      determining whether during such fiscal period the Borrower performed and
      observed all its Obligations under the Loan Documents,
  and

            

    

     

    
      [select
one:]

    

    

    [during
such fiscal period, the Borrower performed and observed each covenant and
condition of the Loan Documents applicable to it, and no Default has occurred
and is continuing.]

    

    [or:]

    

    [the
following covenants or conditions have not been performed or observed and the
following is a list of each such Default and its nature and
status:]

    

    
      	
              4.

            	
              The
      representations and warranties of the Loan Parties contained in the Credit
      Agreement or any other Loan Document, are true and correct on and as of
      the date hereof, except to the extent that such representations and
      warranties specifically refer to an earlier date, in which case they are
      true and correct as of such earlier date, and except that for purposes of
      this Compliance Certificate, the representations and warranties contained
      in subsections (a) and (b) of Section 6.05
      of the Credit Agreement shall be deemed to refer to the most recent
      statements furnished pursuant to clauses (a) and (b),
      respectively, of Section 7.01
      of the Credit Agreement, including the statements in connection with which
      this Compliance Certificate is
delivered.

            

    

    

    
      	
              5.

            	
              Set
      forth on Schedule [1][2]
      hereto are true and accurate calculations demonstrating compliance with
      Section
      8.11 of the Credit Agreement on and as of the date of this
      Compliance Certificate.

            

    

    

    IN
WITNESS WHEREOF, the undersigned has executed this Compliance Certificate as of
__________, 20___.

    

                        INSITUFORM
TECHNOLOGIES, INC.,

                        a Delaware
corporation

    

                        By:   __________________________                                                  

                        Name:

                        Title:

    

    

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    Schedule
2

    to Compliance
Certificate

    

    

    

    1.           Consolidated
Leverage Ratio

    

    (a)           Consolidated
Funded
Indebtedness                                                                      $ ___________                     

    

    (b)           Consolidated
EBITDA

    

    (i)      
      Consolidated Net
Income                                                                       
$____________

    

    (ii)        
   Consolidated Interest
Charges                                                               $____________

    

    (iii)      
    federal, state, local and foreign

     income
taxes                                                                                              $____________

    

    (iv)        
 depreciation and amortization
expense                                                  $
___________

    

    (v)        
   for the fiscal quarters ending March 31,

     2009,
June 30, 2009, September 30, 2009

    and
December 31, 2009 only, transaction

    costs of
the Borrower, Corrpro and Bayou

     incurred
in connection with the Corrpro

    Acquisition
and the Bayou Acquisition

     in
an aggregate amount not to exceed

     $18,800,000                                                                                            
    $ ___________                     

    

    (vi)       
   Consolidated EBITDA

     [sum of (i) though (v)
above]                                                              
   $ ___________                     

    

    (c)           Consolidated
Leverage Ratio

    [(a)/(b)(vi)]                                                                                                             
       __________:1.0

    

    2.           Consolidated
Fixed Charge Coverage Ratio

    

    (a)           Consolidated
Adjusted
EBITDAR                                                                     
    $ ___________                     

    

    (i)       
     Consolidated
EBITDA                                                                         
   $____________

     [1(b)(vi) above]

    

    (ii)        
   rent and lease
expense                                                                             $____________

    

    (iii)          
Consolidated Capital
Expenditures                                                        $____________

    

    (iv)         
 Consolidated Taxes

    

    (v)          
 Consolidated Adjusted EBITDAR

     [(i)+(ii)-(iii)-(iv)]                                                                                        
$ ___________                     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (b)           Consolidated
Fixed Charges

    

    (i)           Consolidated
Interest
Charges                                                                 $____________

    

    (ii)          
Consolidated Scheduled Funded

    Debt
Payments                                                                                          
$____________

    

    (iii)          the
amount of cash dividends and other

    Distributions made by the
Borrower                                                    
  $____________

    

    (iv)           rent
and lease
expense                                                                       
 
   $ ____________                     

    

    (v)           Consolidated
Fixed Charges

    [sum of (i) though (iv)
above]                                                            
     $ ___________                     

    

    (c)           Consolidated
Fixed Charge Coverage Ratio

    [(a)(v)/(b)(v)]                                                                                                           
     __________:1.0

    

    3.           Consolidated
Net
Worth                                                                                                        
   $ ___________                     

    

    

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
G

    

    FORM
OF JOINDER AGREEMENT

     

    

    THIS
JOINDER AGREEMENT (the “Agreement”) dated as
of __________, 20___ is by and between __________, a __________ (the “New Subsidiary”), and
Bank of America, N.A., in its capacity as Administrative Agent under that
certain Credit Agreement dated as of March 31, 2009 (as amended, modified,
supplemented or extended from time to time, the “Credit Agreement”)
among Insituform Technologies, Inc., a Delaware corporation (the “Borrower”), the
Guarantors from time to time party thereto, the Lenders from time to time party
thereto and Bank of America, N.A., as Administrative Agent, Swing Line Lender
and L/C Issuer.  Capitalized terms used herein and not otherwise
defined herein shall have the meanings assigned to such terms in the Credit
Agreement.

    

    The Loan
Parties are required by Section 7.12 of the
Credit Agreement to cause the New Subsidiary to become a “Guarantor”
thereunder.  Accordingly, the New Subsidiary hereby agrees as follows
with the Administrative Agent, for the benefit of the Lenders:

    

    1.           The
New Subsidiary hereby acknowledges, agrees and confirms that, by its execution
of this Agreement, the New Subsidiary will be deemed to be a party to the Credit
Agreement and a “Guarantor” for all purposes of the Credit Agreement, and shall
have all of the obligations of a Guarantor thereunder as if it had executed the
Credit Agreement.  The New Subsidiary hereby ratifies, as of the date
hereof, and agrees to be bound by, all of the terms, provisions and conditions
applicable to the Guarantors contained in the Credit
Agreement.  Without limiting the generality of the foregoing terms of
this paragraph 1, the New Subsidiary hereby jointly and severally together with
the other Guarantors, guarantees to each Lender and the Administrative Agent, as
provided in Article
IV of the Credit Agreement, the prompt payment and performance of the
Obligations in full when due (whether at stated maturity, as a mandatory
prepayment, by acceleration or otherwise) strictly in accordance with the terms
thereof.

    

    2.           The
New Subsidiary hereby represents and warrants to the Administrative Agent and
the Lenders that:

    

    (a)           The
New Subsidiary’s exact legal name and state of formation are as set forth on the
signature pages hereto.

    

    (b)           Schedule 1 hereto
includes each Subsidiary of the New Subsidiary, including (i) jurisdiction of
formation, (ii) number of shares of each class of Equity Interests outstanding,
(iii) the certificate number(s) of the certificates evidencing such Equity
Interests and number and percentage of outstanding shares of each class owned by
the New Subsidiary (directly or indirectly) of such Equity Interests and (iv)
number and effect, if exercised, of all outstanding options, warrants, rights of
conversion or purchase and all other similar rights with respect
thereto.

    

    3.           The
address of the New Subsidiary for purposes of all notices and other
communications is the address designated for all Loan Parties on Schedule 11.02 to the
Credit Agreement or such other address as the New Subsidiary may from time to
time notify the Administrative Agent in writing.

     

    4.           The
New Subsidiary hereby waives acceptance by the Administrative Agent and the
Lenders of the guaranty by the New Subsidiary under Article IV of the
Credit Agreement upon the execution of this Agreement by the New
Subsidiary.

    

    5.           This
Agreement may be executed in multiple counterparts, each of which shall
constitute an original but all of which when taken together shall constitute one
contract.

    

    6.           THIS
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF MISSOURI.

    

    IN
WITNESS WHEREOF, the New Subsidiary has caused this Joinder Agreement to be duly
executed by its authorized officer, and the Administrative Agent, for the
benefit of the Lenders, has caused the same to be accepted by its authorized
officer, as of the day and year first above written.

    

                        [NEW
SUBSIDIARY]

    

                        By: __________________                                                     

                        Name:

                        Title:

    

    Acknowledged
and accepted:

    

    BANK OF
AMERICA, N.A.,

    as
Administrative Agent

     

    

    By:  ____________________                                                    

    Name:

    Title:

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    Schedule 1

    

    Equity
Interests

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
H

    

    FORM
OF ASSIGNMENT AND ASSUMPTION

    

    This
Assignment and Assumption (this “Assignment and
Assumption”) is dated as of the Effective Date set forth below and is
entered into by and between the Assignor identified in item 1 below (the “Assignor”) and the
Assignee identified in item 2 below (the “Assignee”).  Capitalized
terms used but not defined herein shall have the meanings given to them in the
Credit Agreement identified below (the “Credit Agreement”),
receipt of a copy of which is hereby acknowledged by the
Assignee.  The Standard Terms and Conditions set forth in Annex 1 attached
hereto are hereby agreed to and incorporated herein by reference and made a part
of this Assignment and Assumption as if set forth herein in full.

    

    For an
agreed consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the
Assignor, subject to and in accordance with the Standard Terms and Conditions
and the Credit Agreement, as of the Effective Date inserted by the
Administrative Agent as contemplated below (i) all of the Assignor’s rights and
obligations in its capacity as a Lender under the Credit Agreement and any other
documents or instruments delivered pursuant thereto to the extent related to the
amount and percentage interest identified below of all of such outstanding
rights and obligations of the Assignor under the respective facilities
identified below (including, without limitation, the Letters of Credit and the
Swing Line Loans included in such facilities2) and (ii)
to the extent permitted to be assigned under applicable law, all claims, suits,
causes of action and any other right of the Assignor (in its capacity as a
Lender) against any Person, whether known or unknown, arising under or in
connection with the Credit Agreement, any other documents or instruments
delivered pursuant thereto or the loan transactions governed thereby or in any
way based on or related to any of the foregoing, including, but not limited to,
contract claims, tort claims, malpractice claims, statutory claims and all other
claims at law or in equity related to the rights and obligations sold and
assigned pursuant to clause (i) above (the rights and obligations sold and
assigned by the Assignor to the Assignee pursuant to clauses (i) and (ii) above
being referred to herein collectively as the “Assigned
Interest”).  Each such sale and assignment is without recourse
to the Assignor and, except as expressly provided in this Assignment and
Assumption, without representation or warranty by the Assignor.

    

    1.           Assignor:                      ______________________________

    

    

    2.           Assignee:                      ______________________________

          
[indicate [Affiliate][Approved Fund] of [identify
Lender]]

    

    
      	
              3. 
      

            	
               

            	
              Borrower:

            	
              Insituform
      Technologies, Inc., a Delaware
corporation

            

    

    

    
      	
              4. 
      

            	
               

            	
              Administrative
      Agent:

            	
              Bank
      of America, N.A., as the administrative agent under the Credit
      Agreement

            

    

    

    
      	
              5. 
      

            	
               

            	
              Credit
      Agreement:

            	
              Credit
      Agreement, dated as of March 31, 2009, among Insituform Technologies,
      Inc., a Delaware corporation, the Guarantors from time to time party
      thereto, the Lenders from time to time party thereto, and Bank of America,
      N.A., as Administrative Agent, L/C Issuer, and Swing Line
      Lender

            

    

     

    6.           Assigned
Interest:

    

    
      
        
          
            	
                     

                     

                     

                    Assignor[s]1

                  	
                     

                     

                     

                    Assignee[s]2

                  	
                     

                     

                    Facility

                    Assigned3

                  	
                     

                    Aggregate

                    Amount
      of

                    Commitment/Loans

                    for all Lenders4

                  	
                     

                    Amount
      of

                    Commitment/

                    Loans

                    Assigned

                  	
                     

                    Percentage

                    Assigned
      of

                    Commitment/

                    Loans5

                  	
                     

                     

                     

                    CUSIP

                     Number

                  
	 
      	 
      	
                    __________

                     

                  	
                    $________________

                  	
                    $_________

                  	
                    ____________%

                  	 
      
	 
      	 
      	
                    __________

                     

                  	
                    $________________

                  	
                    $_________

                  	
                    ____________%

                  	 
      
	 
      	 
      	
                    __________

                     

                  	
                    $________________

                  	
                    $_________

                  	
                    ____________%

                  	 
      

          

        

      

    

    

    [7.           Trade
Date:                                __________________]6

    

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

    

    

      

    

    1  Include
all applicable subfacilities.

    
      2
 List each Assignor, as appropriate.  

    

    
      3 
Fill in the appropriate terminology for the types of facilities under the
Credit Agreement that are being assigned under this Assignment (e.g. “Revolving
Credit Commitment”, 

        
“Term A Commitment”, etc.).  

    

    
      4 
Amounts in this column and in the column immediately to the right to be
adjusted by the counterparties to take into account any payments or prepayments
made 

        
between the Trade Date and the Effective Date. 

    

    
      5 
 Set forth, to at least 9 decimals, as a percentage of the
Commitment/Loans of all Lenders thereunder. 

    

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

    

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

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

     

    ASSIGNOR

    [NAME OF
ASSIGNOR]

    

    By:  _____________________________

    Title:

    

    

    

    ASSIGNEE

    [NAME OF
ASSIGNEE]

    

    By:  _____________________________

    Title:

    

    

    

    [Consented
to and]1 Accepted:

    

    BANK OF
AMERICA, N.A.,

    as
Administrative Agent

    

    By:         _________________________________

    Title:

    

    

    

    [Consented
to:]2

    

    By:         _________________________________

    Title:

    

      

    

      
      1 To be
added only if the consent of the Administrative Agent is required by the terms
of the Credit Agreement.

    

      
      2  To
be added only if the consent of the Borrower and/or other parties (e.g. Swing Line
Lender, L/C Issuer) is required by the terms of the Credit
Agreement.

    

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    ANNEX
1 TO ASSIGNMENT AND ASSUMPTION

    

    STANDARD
TERMS AND CONDITIONS FOR

    

    ASSIGNMENT
AND ASSUMPTION

    

    1.              
Representations and
Warranties.

    

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

    

    1.2.           Assignee.  The
Assignee (a) represents and warrants that (i) it has full power and authority,
and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become
a Lender under the Credit Agreement, (ii) it meets all the requirements to be an
assignee under Section
11.06(b)(iv) and (v) of the Credit
Agreement (subject to such consents, if any, as may be required under Section 11.06(b)(ii)
of the Credit Agreement), (iii) from and after the Effective Date, it shall be
bound by the provisions of the Credit Agreement as a Lender thereunder and, to
the extent of the Assigned Interest, shall have the obligations of a Lender
thereunder, (iv) it is sophisticated with respect to decisions to acquire assets
of the type represented by the Assigned Interest and either it, or the Person
exercising discretion in making its decision to acquire the Assigned Interest,
is experienced in acquiring assets of such type, (v) it has received a copy of
the Credit Agreement, and has received or has been accorded the opportunity to
receive copies of the most recent financial statements delivered pursuant to
Section 7.01
thereof, as applicable, and such other documents and information as it deems
appropriate to make its own credit analysis and decision to enter into this
Assignment and Assumption and to purchase the Assigned Interest, (vi) it has,
independently and without reliance upon the Administrative Agent or any other
Lender and based on such documents and information as it has deemed appropriate,
made its own credit analysis and decision to enter into this Assignment and
Assumption and to purchase the Assigned Interest, and (vii) if it is a Foreign
Lender, attached hereto is any documentation required to be delivered by it
pursuant to the terms of the Credit Agreement, duly completed and executed by
the Assignee; and (b) agrees that (i) it will, independently and without
reliance upon the Administrative Agent, the Assignor or any other Lender, and
based on such documents and information as it shall deem appropriate at the
time, continue to make its own credit decisions in taking or not taking action
under the Loan Documents, and (ii) it will perform in accordance with their
terms all of the obligations which by the terms of the Loan Documents are
required to be performed by it as a Lender.

    

    2.           Payments.  From
and after the Effective Date, the Administrative Agent shall make all payments
in respect of the Assigned Interest (including payments of principal, interest,
fees and other amounts) to the Assignor for amounts which have accrued to but
excluding the Effective Date and to the Assignee for amounts which have accrued
from and after the Effective Date.

    

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

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
I

    

    [FORM
OF]

    INCREMENTAL
TERM LOAN LENDER FUNDING AGREEMENT

    

    THIS INCREMENTAL TERM LOAN LENDER FUNDING AGREEMENT dated
as of __________, 20__ (this “Agreement”) is by and
among each of the Persons identified as “Lenders” on the signature pages hereto
(each, a “Lender”), Insituform
Technologies, Inc., a Delaware corporation (the “Borrower”), the
Guarantors, and Bank of America, N.A., as Administrative
Agent.  Capitalized terms used but not otherwise defined herein have
the meanings provided in the Credit Agreement.

    

    W I T N E
S S E T H

    

    WHEREAS, pursuant to that
certain Credit Agreement dated as of March 31, 2009 (as amended, modified,
supplemented, increased or extended from time to time, the “Credit Agreement”)
among the Borrower, the Guarantors, the Lenders and the Administrative Agent,
the Lenders have agreed to provide the Borrower with a revolving credit and term
loan facility;

    

    WHEREAS, pursuant to Section 2.02(f) of
the Credit Agreement, the Borrower has requested that each Lender party hereto
provide a portion of the Incremental Term Loan under the Credit Agreement;
and

    

    WHEREAS, each Lender party
hereto has agreed to provide a portion of the Incremental Term Loan on the terms
and conditions set forth herein and to become a “Lender” under the Credit
Agreement in connection therewith;

    

    NOW, THEREFORE, in
consideration of the premises and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

    

    1.           Each
Lender party hereto severally agrees to make its portion of the Incremental Term
Loan in a single advance to the Borrower on the date hereof in an aggregate
principal amount not to exceed its Incremental Term Loan
Commitment.  The Incremental Term Loan Commitment and percentage of
the Incremental Term Loan for each of the Lenders party hereto shall be as set
forth on Schedule
2.01 attached hereto.  The existing Schedule 2.01 to the
Credit Agreement shall be deemed to be amended to include the information set
forth on Schedule
2.01 attached hereto.

    

    2.           The
Borrower shall repay to the Lenders party hereto the principal amount of the
Incremental Term Loan as set forth in Section 2.07(c) of
the Credit Agreement.  Each of the parties hereto agrees that the
Incremental Term Loan advanced pursuant to this Agreement shall be considered
part of the Term Loan and treated as such under the Loan Documents.

    

    3.           Each
Lender party hereto (a) represents and warrants that (i) it has full
power and authority, and has taken all action necessary, to execute and deliver
this Agreement and to consummate the transactions contemplated hereby and to
become a Lender under the Credit Agreement, (ii) it meets all requirements
of an Eligible Assignee under the Credit Agreement (subject to receipt of such
consents as may be required under the Credit Agreement), (iii) from and
after the date hereof, it shall be bound by the provisions of the Credit
Agreement as a Lender thereunder and shall have the obligations of a Lender
thereunder, (iv) it has received a copy of the Credit Agreement, together
with copies of the most recent financial
statements delivered pursuant to Section 7.01
thereof, as applicable, and such other documents and information as it has
deemed appropriate to make its own credit analysis and decision to enter into
this Agreement on the basis of which it has made such analysis and decision
independently and without reliance on the Administrative Agent or any other
Lender, and (v) if it is a Foreign Lender, attached hereto is any
documentation required to be delivered by it pursuant to the terms of the Credit
Agreement; and (b) agrees that (i) it will, independently and without
reliance on the Administrative Agent or any other Lender, and based on such
documents and information as it shall deem appropriate at the time, continue to
make its own credit decisions in taking or not taking action under the Loan
Documents, and (ii) it will perform in accordance with their terms all of
the obligations which by the terms of the Loan Documents are required to be
performed by it as a Lender.

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4.           Each
of the Administrative Agent, the Borrower, and the Guarantors agrees that, as of
the date hereof, each Lender party hereto shall (a) be a party to the Credit
Agreement and the other Loan Documents, (b) be an “Lender” for all purposes of
the Credit Agreement and the other Loan Documents and (c) have the rights and
obligations of an Lender under the Credit Agreement and the other Loan
Documents.

    

    5.           The
address of each Lender party hereto for purposes of all notices and other
communications is as set forth on the Administrative Questionnaire delivered by
such Lender to the Administrative Agent.

    

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

    

    7.           THIS
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF MISSOURI.

    

    IN
WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be
executed by a duly authorized officer as of the date first above
written.

    

    LENDERS:                             

                                            ________________________     

     

     

                                                        By:_____________________                                      

                                Name:

                                Title:

    

    

    BORROWER:                                                                            INSITUFORM TECHNOLOGIES,
INC.,

                                a Delaware
corporation

    

                                By: _____________________                                                     

                                Name:

                                Title:

    

    

    GUARANTORS:                                                                      [INSERT GUARANTORS]

    

    

                                By:
_____________________                                                      

                                Name:

                                Title:

    

    

    

    Accepted and
Agreed:

    

    BANK OF
AMERICA, N.A.,

    as
Administrative Agent

    

    By:   ____________________                                                   

    Name:

    Title:

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