Document:

exv4w1

Exhibit
4.1

 

BBHI ACQUISITION LLC,

Issuer,

and

U.S. BANK NATIONAL ASSOCIATION,

Trustee

Indenture

Dated as of December 14, 2010

$250,000,000

8.00% Senior Notes due 2018

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	 	Page
	RECITALS OF THE COMPANY
	 	 	1	 
	ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	 	 	1	 
	Section 101. Definitions
	 	 	1	 
	“Acquired Indebtedness”
	 	 	1	 
	“Acquisition”
	 	 	1	 
	“Additional Securities”
	 	 	2	 
	“Adjusted Treasury Rate”
	 	 	2	 
	“Affiliate”
	 	 	2	 
	“Agent Members”
	 	 	2	 
	“Annual Operating Cash Flow”
	 	 	2	 
	“Asset Sale”
	 	 	2	 
	“Asset Sale Offer”
	 	 	3	 
	“Bankruptcy Law”
	 	 	3	 
	“Beneficial Owner”
	 	 	3	 
	“Book-Entry Security”
	 	 	3	 
	“Business Day”
	 	 	4	 
	“Cablevision”
	 	 	4	 
	“Capital Stock”
	 	 	4	 
	“Capitalized Lease Obligation”
	 	 	4	 
	“Cash Equivalents”
	 	 	4	 
	“Cash Flow Ratio”
	 	 	5	 
	“Change of Control”
	 	 	5	 
	“Commission”
	 	 	6	 
	“Common Stock”
	 	 	6	 
	“Company”
	 	 	6	 
	“Company Request” or “Company Order”
	 	 	6	 
	“Comparable Treasury Issue”
	 	 	7	 
	“Comparable Treasury Price”
	 	 	7	 
	“Consolidated Secured Leverage Ratio”
	 	 	7	 
	“Continuing Directors”
	 	 	7	 
	“Corporate Trust Office”
	 	 	7	 
	“Credit Agreement”
	 	 	7	 
	“Credit Facilities”
	 	 	8	 
	“Cumulative Cash Flow Credit”
	 	 	8	 
	“Cumulative Interest Expense”
	 	 	8	 
	“Debt”
	 	 	9	 
	“Default”
	 	 	9	 
	“Depository”
	 	 	9	 
	“Disqualified Stock”
	 	 	9	 
	“Dolan Family Interests”
	 	 	10	 
	“Dolan Family Members”
	 	 	10	 
	“Domestic Subsidiary”
	 	 	10	 

i 

 

	 	 	 	 	 
	 	 	 	Page
	“Equity Interests”
	 	 	10	 
	“Event of Default”
	 	 	10	 
	“Excess Proceeds”
	 	 	10	 
	“Exchange Act”
	 	 	10	 
	“Existing Indebtedness”
	 	 	10	 
	“Fair Market Value”
	 	 	10	 
	“Generally Accepted Accounting Principles” or “GAAP”
	 	 	10	 
	“Global Security”
	 	 	11	 
	“Guarantee”
	 	 	11	 
	“Guarantors”
	 	 	11	 
	“Hedging Obligations”
	 	 	11	 
	“Holder”
	 	 	11	 
	“Holdings”
	 	 	11	 
	“Indebtedness”
	 	 	11	 
	“Indenture”
	 	 	12	 
	“Initial Interest Payment Date”
	 	 	12	 
	“Initial Securities”
	 	 	12	 
	“Insignificant Subsidiary”
	 	 	12	 
	“Interest Payment Date”
	 	 	12	 
	“Interest Swap Obligations”
	 	 	12	 
	“Investment”
	 	 	12	 
	“Investment Grade Rating”
	 	 	12	 
	“Lease”
	 	 	13	 
	“Lien”
	 	 	13	 
	“Material Subsidiary”
	 	 	13	 
	“Maturity”
	 	 	13	 
	“Members”
	 	 	13	 
	“Member Resolution”
	 	 	13	 
	“Monetization Indebtedness”
	 	 	13	 
	“Monetization Transaction”
	 	 	14	 
	“Moody’s”
	 	 	14	 
	“Net Proceeds”
	 	 	14	 
	“Note Guarantee”
	 	 	14	 
	“Offer Amount”
	 	 	14	 
	“Offer Period”
	 	 	14	 
	“Offering Memorandum”
	 	 	14	 
	“Officers’ Certificate”
	 	 	14	 
	“Operating Cash Flow”
	 	 	14	 
	“Opinion of Counsel”
	 	 	15	 
	“Outstanding”
	 	 	15	 
	“Paying Agent”
	 	 	16	 
	“Permitted Additional Secured Obligations”
	 	 	16	 
	“Permitted Business”
	 	 	16	 
	“Permitted Debt”
	 	 	16	 
	“Permitted Investments”
	 	 	16	 
	“Permitted Liens”
	 	 	18	 

ii 

 

	 	 	 	 	 
	 	 	 	Page
	“Permitted Refinancing Indebtedness”
	 	 	21	 
	“Person”
	 	 	23	 
	“Physical Security”
	 	 	23	 
	“Predecessor Security”
	 	 	23	 
	“Preferred Stock”
	 	 	23	 
	“Purchase Date”
	 	 	23	 
	“Qualified Equity Offering”
	 	 	23	 
	“Qualified Institutional Buyer” or “QIB”
	 	 	23	 
	“Quotation Agent”
	 	 	23	 
	“Rating Agency”
	 	 	23	 
	“Rating Category”
	 	 	23	 
	“Receivables and Related Assets”
	 	 	24	 
	“Redemption Date”
	 	 	24	 
	“Redemption Price”
	 	 	24	 
	“Reference Treasury Dealer”
	 	 	24	 
	“Reference Treasury Dealer Quotations”
	 	 	24	 
	“Regular Record Date”
	 	 	24	 
	“Regulation S Global Security”
	 	 	24	 
	“Replacement Assets”
	 	 	24	 
	“Repurchase Offer”
	 	 	24	 
	“Responsible Officer”
	 	 	24	 
	“Restricted Investment”
	 	 	25	 
	“Restricted Payment”
	 	 	25	 
	“Restricted Security”
	 	 	25	 
	“Restricted Subsidiary”
	 	 	26	 
	“Rule 144A Global Security”
	 	 	26	 
	“S&P”
	 	 	26	 
	“Securities Act”
	 	 	26	 
	“Securities Issue Date”
	 	 	26	 
	“Securitization Subsidiary”
	 	 	26	 
	“Security” and “Securities”
	 	 	27	 
	“Security Register” and “Security Registrar”
	 	 	27	 
	“Senior Indebtedness”
	 	 	27	 
	“Significant Subsidiary”
	 	 	27	 
	“Special Record Date”
	 	 	27	 
	“Stated Maturity”
	 	 	27	 
	“Stock Payment”
	 	 	27	 
	“subsidiary”
	 	 	28	 
	“Subsidiary”
	 	 	28	 
	“Suspended Covenants”
	 	 	28	 
	“Suspension Condition”
	 	 	28	 
	“Transactions”
	 	 	28	 
	“Trust Indenture Act”
	 	 	28	 
	“Trustee”
	 	 	28	 
	“Unrestricted Subsidiary”
	 	 	28	 
	“Voting Stock”
	 	 	28	 

iii 

 

	 	 	 	 	 
	 	 	 	Page
	“Weighted Average Life to Maturity”
	 	 	28	 
	Section 102. Other Definitions
	 	 	29	 
	Section 103. Compliance Certificates and Opinions
	 	 	29	 
	Section 104. Form of Documents Delivered to Trustee
	 	 	30	 
	Section 105. Acts of Holders
	 	 	30	 
	Section 106. Notices, Etc. to Trustee and Company
	 	 	31	 
	Section 107. Notice to Holders; Waiver
	 	 	31	 
	Section 108. [RESERVED]
	 	 	32	 
	Section 109. Effect of Headings and Table of Contents
	 	 	32	 
	Section 110. Successors and Assigns
	 	 	32	 
	Section 111. Separability Clause
	 	 	32	 
	Section 112. Benefits of Indenture
	 	 	32	 
	Section 113. Governing Law; Waiver of Jury Trial
	 	 	32	 
	Section 114. Legal Holidays
	 	 	33	 
	Section 115. No Recourse Against Others
	 	 	33	 
	Section 116. U.S.A. Patriot Act
	 	 	33	 
	Section 117. Force Majeure
	 	 	33	 
	ARTICLE TWO SECURITY FORMS
	 	 	34	 
	Section 201. Forms Generally; Incorporation of Form in Indenture
	 	 	34	 
	Section 202. Form of Face of Security
	 	 	34	 
	Section 203. Form of Reverse of Security
	 	 	36	 
	Section 204. Form of Trustee’s Certificate of Authentication
	 	 	40	 
	Section 205. Form of Legend on Restricted Securities
	 	 	40	 
	Section 206. Form of Legend for Book-Entry Securities
	 	 	41	 
	ARTICLE THREE THE SECURITIES
	 	 	42	 
	Section 301. Title and Terms
	 	 	42	 
	Section 302. Denominations
	 	 	43	 
	Section 303. Execution, Authentication, Delivery and Dating
	 	 	43	 
	Section 304. Temporary Securities
	 	 	44	 
	Section 305. Registration, Registration of Transfer and Exchange
	 	 	45	 
	Section 306. Mutilated, Destroyed, Lost and Stolen Securities
	 	 	46	 
	Section 307. Payment of Interest; Interest Rights Preserved
	 	 	47	 
	Section 308. Persons Deemed Owners
	 	 	48	 
	Section 309. Cancellation
	 	 	48	 
	Section 310. Computation of Interest
	 	 	48	 
	Section 311. [RESERVED]
	 	 	48	 
	Section 312. ISIN and CUSIP Numbers
	 	 	48	 
	Section 313. Book-Entry Provisions for Global Securities
	 	 	49	 
	Section 314. Special Transfer Provisions
	 	 	50	 
	ARTICLE FOUR SATISFACTION AND DISCHARGE
	 	 	53	 
	Section 401. Satisfaction and Discharge of Indenture
	 	 	53	 
	Section 402. Application of Trust Money
	 	 	54	 
	ARTICLE FIVE REMEDIES
	 	 	54	 
	Section 501. Events of Default
	 	 	54	 
	Section 502. Acceleration of Maturity; Rescission
	 	 	56	 
	Section 503. Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	57	 

iv 

 

	 	 	 	 	 
	 	 	 	Page
	Section 504. Trustee May File Proofs of Claim
	 	 	58	 
	Section 505. Trustee May Enforce Claims Without Possession of Securities
	 	 	58	 
	Section 506. Application of Money Collected
	 	 	59	 
	Section 507. Limitation on Suits
	 	 	59	 
	Section 508. Unconditional Right of Holders to Receive Principal and Interest
	 	 	60	 
	Section 509. Restoration of Rights and Remedies
	 	 	60	 
	Section 510. Rights and Remedies Cumulative
	 	 	60	 
	Section 511. Delay or Omission Not Waiver
	 	 	60	 
	Section 512. Control by Holders
	 	 	60	 
	Section 513. Waiver of Past Defaults
	 	 	61	 
	Section 514. Undertaking for Costs
	 	 	61	 
	Section 515. Waiver of Stay, Extension or Usury Laws
	 	 	62	 
	ARTICLE SIX THE TRUSTEE
	 	 	62	 
	Section 601. Certain Duties and Responsibilities
	 	 	62	 
	Section 602. Certain Rights of Trustee
	 	 	63	 
	Section 603. Not Responsible for Recitals or Issuance of Securities
	 	 	65	 
	Section 604. May Hold Securities
	 	 	65	 
	Section 605. Money Held in Trust
	 	 	65	 
	Section 606. Compensation and Reimbursement
	 	 	65	 
	Section 607. Conflicting Interests
	 	 	66	 
	Section 608. Corporate Trustee Required; Eligibility
	 	 	66	 
	Section 609. Resignation and Removal; Appointment of Successor
	 	 	67	 
	Section 610. Acceptance of Appointment by Successor
	 	 	68	 
	Section 611. Merger, Conversion, Consolidation or Succession to Business
	 	 	68	 
	Section 612. Preferential Collection of Claims Against Company
	 	 	69	 
	Section 613. Trustee’s Application for Instructions from the Company
	 	 	69	 
	Section 614. Notice of Defaults
	 	 	69	 
	ARTICLE SEVEN HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	 	 	69	 
	Section 701. Disclosure of Names and Addresses of Holders
	 	 	69	 
	Section 702. Reports by Trustee
	 	 	70	 
	Section 703. Reports by Company
	 	 	70	 
	ARTICLE EIGHT CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
	 	 	72	 
	Section 801. Company May Consolidate, Etc., Only on Certain Terms
	 	 	72	 
	Section 802. Successor Substituted
	 	 	73	 
	ARTICLE NINE SUPPLEMENTAL INDENTURES
	 	 	74	 
	Section 901. Supplemental Indentures Without Consent of Holders
	 	 	74	 
	Section 902. Supplemental Indentures with Consent of Holders
	 	 	74	 
	Section 903. Execution of Supplemental Indentures
	 	 	75	 
	Section 904. Effect of Supplemental Indentures
	 	 	75	 
	Section 905. Conformity with Trust Indenture Act
	 	 	76	 
	Section 906. Reference in Securities to Supplemental Indentures
	 	 	76	 
	ARTICLE TEN COVENANTS
	 	 	76	 
	Section 1001. Payment of Principal and Interest
	 	 	76	 
	Section 1002. Maintenance of Office or Agency
	 	 	76	 
	Section 1003. Money for Security Payments to Be Held in Trust
	 	 	77	 

v 

 

	 	 	 	 	 
	 	 	 	Page
	Section 1004. Corporate Existence
	 	 	78	 
	Section 1005. Payment of Taxes and Other Claims
	 	 	78	 
	Section 1006. Maintenance of Properties
	 	 	78	 
	Section 1007. Limitation on Indebtedness
	 	 	79	 
	Section 1008. Limitation on Liens
	 	 	83	 
	Section 1009. Limitation on Restricted Payments
	 	 	83	 
	Section 1010. Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries
	 	 	85	 
	Section 1011. Transactions with Affiliates
	 	 	87	 
	Section 1012. Designation of Restricted and Unrestricted Subsidiaries
	 	 	88	 
	Section 1013. Guarantees
	 	 	90	 
	Section 1014. Asset Sales
	 	 	91	 
	Section 1015. Offer to Repurchase upon a Change of Control
	 	 	93	 
	Section 1016. Suspension of Covenants Upon Investment Grade Ratings
	 	 	94	 
	Section 1017. Limitation on Issuances and Sales of Equity Interests in Restricted Subsidiaries
	 	 	94	 
	Section 1018. [RESERVED]
	 	 	95	 
	Section 1019. Statement as to Compliance
	 	 	95	 
	Section 1020. Waiver of Certain Covenants
	 	 	95	 
	Section 1021. Statement by Officers as to Default
	 	 	95	 
	ARTICLE ELEVEN REDEMPTION OF SECURITIES
	 	 	96	 
	Section 1101. Notices to Trustee
	 	 	96	 
	Section 1102. Selection of Securities to Be Redeemed
	 	 	96	 
	Section 1103. Notice of Redemption
	 	 	96	 
	Section 1104. Effect of Notice of Redemption
	 	 	97	 
	Section 1105. Deposit of Redemption Price
	 	 	97	 
	Section 1106. Securities Redeemed in Part
	 	 	98	 
	Section 1107. Optional Redemption
	 	 	98	 
	Section 1108. Repurchase at the Option of Holders
	 	 	99	 
	ARTICLE TWELVE NOTE GUARANTEES
	 	 	101	 
	Section 1201. Note Guarantee
	 	 	101	 
	Section 1202. Limitation on Guarantor Liability
	 	 	102	 
	Section 1203. Execution and Delivery of Note Guarantee
	 	 	102	 
	ARTICLE THIRTEEN DEFEASANCE AND COVENANT DEFEASANCE
	 	 	103	 
	Section 1301. Option to Effect Defeasance or Covenant Defeasance
	 	 	103	 
	Section 1302. Defeasance and Discharge
	 	 	103	 
	Section 1303. Covenant Defeasance
	 	 	103	 
	Section 1304. Conditions to Defeasance or Covenant Defeasance
	 	 	104	 
	Section 1305. Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions
	 	 	105	 
	Section 1306. Reinstatement
	 	 	106	 
	 
	 	 	 	 
	TESTIMONIUM
	 	 	S-1	 
	 
	 	 	 	 
	SIGNATURES AND SEALS
	 	 	S-1	 
	 
	 	 	 	 
	ACKNOWLEDGMENTS
	 	 	S-2	 

vi 

 

	 	 	 	 	 
	 	 	 	Page
	EXHIBIT A List of Restricted Subsidiaries
	 	 	A-1	 
	 
	 	 	 	 
	EXHIBIT B Form of Notation of Guarantee
	 	 	B-1	 

vii 

 

          INDENTURE dated as of December 14, 2010 between BBHI Acquisition LLC, a Delaware limited
liability company (hereinafter called the “Company”), and U.S. Bank National Association, a
national banking association, as trustee (hereinafter called the “Trustee”).

RECITALS OF THE COMPANY

          The Company has duly authorized the creation of an issue of its 8.00% Senior Notes due 2018
(hereinafter called the “Initial Securities,” and together with any Additional Securities, the
“Securities”), of substantially the tenor and amount hereinafter set forth, and to provide therefor
the Company has duly authorized the execution and delivery of this Indenture.

          NOW, THEREFORE, THIS INDENTURE WITNESSETH:

          For and in consideration of the premises and the purchase of the Securities by the Holders
thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all
Holders of the Securities, as follows:

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

          Section 101. Definitions.

          For all purposes of this Indenture, except as otherwise expressly provided or unless the
context otherwise requires:

     (a) the terms defined in this Article have the meanings assigned to them in this
Article and include the plural as well as the singular;

     (b) all other terms used herein which are defined in the Trust Indenture Act, either
directly or by reference therein, have the meanings assigned to them therein;

     (c) all accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with GAAP (as defined herein); and

     (d) the words “herein”, “hereof” and “hereunder” and other words of similar import
refer to this Indenture as a whole and not to any particular Article, Section or other
subdivision.

          “Acquired Indebtedness” means Indebtedness of a Person (a) existing at the time such Person is merged with or into the
Company or a Subsidiary or becomes a Subsidiary or (b) assumed in connection with the acquisition
of assets from such Person.

          “Acquisition” means the acquisition of Bresnan Broadband Holdings, LLC by Holdings, as described in the
Offering Memorandum.

 

 

          “Additional Securities” means an unlimited maximum aggregate principal amount of Securities (other than the Initial
Securities) issued under this Indenture in accordance with Section 201 and subject to Section 1007
hereof.

          “Adjusted Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual
equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable
Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury
Price for such Redemption Date.

          “Affiliate” means, with respect to any specified Person, any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with such specified Person.
For the purposes of this definition, “control,” when used with respect to any specified Person,
means the power to direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise, and the terms
“controlling” and “controlled” have meanings correlative to the foregoing.

          “Agent Members” has the meaning specified in Section 313.

          “Annual Operating Cash Flow” means, as of any date, Operating Cash Flow for the period of four consecutive fiscal quarters
covered by the then most recent report provided to the Trustee and the Holders of Securities under
Section 703.

          “Asset Sale” means:

	 	(1)	 	the sale, lease, conveyance or other disposition of any
property or assets; other than a sale, lease, conveyance or other disposition
governed by Section 1015 or Article 8; and
	 
	 	(2)	 	the issuance of Equity Interests by any of the Company’s
Restricted Subsidiaries or the sale by the Company or any Restricted Subsidiary
thereof of Equity Interests in any of its Restricted Subsidiaries (other than
directors’ qualifying shares and shares issued to foreign nationals to the
extent required by applicable law).

Notwithstanding the preceding, the following items shall be deemed not to be Asset Sales:

	 	(1)	 	any single transaction or series of related transactions that
involves properties or assets having a Fair Market Value of less than $10.0
million;
	 
	 	(2)	 	the sale, lease, conveyance or other disposition of properties
or assets between or among the Company and its Restricted Subsidiaries
(including any transfer to any Person that concurrently becomes a Restricted
Subsidiary);
	 
	 	(3)	 	an issuance of Equity Interests by a Restricted Subsidiary to
the Company or to another Restricted Subsidiary;

2

 

	 	(4)	 	the sale, lease, conveyance or other disposition of equipment,
inventory, materials, accounts receivable or other assets in the ordinary
course of business;
	 
	 	(5)	 	the sale, lease, conveyance or other disposition of
intellectual property and other intangibles in the ordinary course of business;
	 
	 	(6)	 	the licensing or sublicensing of intellectual property,
intellectual property rights or other general intangibles, and licenses,
leases, sublicenses or subleases of other assets or property which do not
materially interfere with the business of the Company or any of its Restricted
Subsidiaries;
	 
	 	(7)	 	the sale, conveyance or other disposition of cash and Cash
Equivalents;
	 
	 	(8)	 	the sale, conveyance or other disposition of accounts
receivables, including overdue or disputed accounts receivable, in connection
with the compromise, settlement or collection thereof or in bankruptcy or
similar proceedings;
	 
	 	(9)	 	a Restricted Payment that is not prohibited by Section 1009 and
any Investment that is not prohibited Section 1012, including any Permitted
Investment;
	 
	 	(10)	 	the granting of a Lien not prohibited under this Indenture;
	 
	 	(11)	 	any surrender or waiver of contract rights or the settlement,
release or surrender of contract rights, tort claims or other litigation
claims;
	 
	 	(12)	 	the termination of hedging or similar arrangements; and
	 
	 	(13)	 	the sale, lease, conveyance or other disposition of any
property or assets that has become damaged, worn out, obsolete or otherwise
unsuitable for use in connection with the business of the Company or its
Restricted Subsidiaries.

          “Asset Sale Offer” has the meaning specified in Section 1014(c).

          “Bankruptcy Law” has the meaning specified in Section 501.

          “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act.
The terms “Beneficially Owns” and “Beneficially Owned” shall each have a corresponding meaning.

          “Book-Entry Security” means a Security represented by a Global Security and registered in the name of the nominee of
the Depository.

3

 

          “Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking
institutions in The City of New York are authorized or obligated by law, regulation or executive
order to close.

          “Cablevision” means Cablevision Systems Corporation, a Delaware corporation, and its successors and assigns.

          “Capital Stock” means, with respect to any Person, any and all shares, interests, participations or other
equivalents (however designated) of such Person’s capital stock whether now outstanding or issued
after the date of this Indenture, including, without limitation, all Common Stock, Preferred Stock
and Disqualified Stock.

          “Capitalized Lease Obligation” means any obligation of a Person to pay rent or other amounts under a lease with respect to
any property, whether real, personal or mixed, acquired or leased by such Person and used in its
business that is required to be accounted for as a liability on the balance sheet of such Person in
accordance with GAAP, and the amount of such Capitalized Lease Obligation shall be the amount so
required to be accounted for as a liability.

          “Cash Equivalents” means:

	 	(1)	 	United States dollars;
	 
	 	(2)	 	marketable direct obligations of the United States of America
maturing, unless such securities are deposited to defease any Indebtedness,
within 397 days of the date of purchase;
	 
	 	(3)	 	commercial paper issued by a Person having consolidated net
worth of at least $250.0 million, which conducts a substantial part of its
business in the United States of America, maturing within 180 days from the
date of the original issue thereof, and rated “P-1” or better by Moody’s or
“A-1” or better by S&P;
	 
	 	(4)	 	fully collateralized repurchase agreements with financial
institutions having a rating of “Baa” or better from Moody’s or a rating of
“A-” or better from S&P;
	 
	 	(5)	 	certificates of deposit, bankers’ acceptances and time deposits
maturing within 397 days after the date of purchase, which are issued by a
United States national or state bank or foreign bank having capital, surplus
and undivided profits totaling more than $100.0 million, and having a rating of
“Baa” or better from Moody’s, or a rating of “A-” or better from S&P;
	 
	 	(6)	 	money market funds that (i) comply with the criteria set forth
in the Commission’s Rule 2a-7 under the Investment Company Act of 1940, (ii)
are rated “AAA” by S&P and “Aaa” by Moody’s and (iii) have portfolio assets of
at least $3 billion;

4

 

	 	(7)	 	repurchase obligations of any lender under the Credit Agreement
or of any commercial bank satisfying the requirements of clause (3) of this
definition, having a term of not more than thirty days, with respect to
securities issued or fully guaranteed or insured by the United States
government;
	 
	 	(8)	 	obligations of any State, commonwealth or territory of the
United States or any political subdivision thereof for the payment of the
principal and redemption price of and interest on which there shall have been
irrevocably deposited the government obligations described in clause (2) of
this definition maturing as to principal and interest at times and in amounts
sufficient to provide such payment;
	 
	 	(9)	 	auction preferred stock rated in the highest short-term credit
rating category by S&P or Moody’s;
	 
	 	(10)	 	securities with maturities of six months or less from the date
of acquisition backed by standby letters of credit issued by any lender under
the Credit Agreement or any commercial bank satisfying the requirements of
clause (3) of this definition); and
	 
	 	(11)	 	money market mutual or similar funds that invest exclusively in
assets satisfying the requirements of clauses (1) through (10) of this
definition.

          “Cash Flow Ratio” means, as of any date, the ratio of (a) the sum of the aggregate outstanding principal amount
of all Indebtedness of the Company and its Restricted Subsidiaries outstanding on such date
determined on a consolidated basis, but excluding all Interest Swap Obligations and all
Monetization Indebtedness, plus (but without duplication of Indebtedness supported by letters of
credit) the aggregate undrawn face amount of all letters of credit outstanding on such date to (b)
Annual Operating Cash Flow.

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

	 	(1)	 	the direct or indirect sale, transfer, conveyance or other
disposition (other than by way of pledge, merger or consolidation), in one or a
series of related transactions, of all or substantially all of the properties
or assets of the Company and its Restricted Subsidiaries, taken as a whole, to
any “person” (as that term is used in Section 13(d)(3) of the Exchange Act),
other than to one or more of the Dolan Family Interests;
	 
	 	(2)	 	the adoption of a plan relating to the liquidation or
dissolution of the Company;
	 
	 	(3)	 	any “person” or “group” (as such terms are used in Sections
13(d) and 14(d) of the Exchange Act), other than one or more of the Dolan
Family Interests, becomes the ultimate Beneficial Owner, directly or
indirectly, of 50% or more of the voting power of the Voting Stock of the
Company;

5

 

	 	(4)	 	the first day after the date the Company’s Common Stock is
registered under the Exchange Act on which a majority of the members of the
board of directors of the Company are not Continuing Directors; or
	 
	 	(5)	 	the Company consolidates with, or merges with or into, any
Person, or any Person consolidates with, or merges with or into the Company, in
any such event pursuant to a transaction in which any of the outstanding Voting
Stock of the Company or such other Person is converted into or exchanged for
cash, securities or other property, other than any such transaction where (A)
the Voting Stock of the Company outstanding immediately prior to such
transaction is converted into or exchanged for Voting Stock (other than
Disqualified Stock) of the surviving or transferee Person constituting, or
remains outstanding and constitutes, a majority of the outstanding shares of
such Voting Stock of such surviving or transferee Person (immediately after
giving effect to such issuance) and (B) immediately after such transaction, no
“person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Exchange Act), other than one or more of the Dolan Family Interests, becomes,
directly or indirectly, the ultimate Beneficial Owner of 50% or more of the
voting power of the Voting Stock of the surviving or transferee Person;
provided that, following completion of the offer to purchase Securities
pursuant Section 1015, any subsequent change in the voting power of the Voting
Stock of the surviving or transferee Person Beneficially Owned by the “person”
or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange
Act) that resulted in such earlier Change of Control shall not result in an
additional Change of Control.

          “Commission” means the United States Securities and Exchange Commission and any successor thereto.

          “Common Stock” means, with respect to any Person, any and all shares, interests and participations (however
designated and whether voting or non-voting) in such Person’s common equity, whether now
outstanding or issued after the date of this Indenture, and includes, without limitation, all
series and classes of such common stock.

          “Company” means the Person named as the “Company” in the first paragraph of this instrument, until a
successor Person shall have become such pursuant to the applicable provisions of this Indenture,
and thereafter “Company” shall mean such successor Person. To the extent necessary to comply with
the requirements of the provisions of Trust Indenture Act Sections 310 through 317 as they are
applicable to the Company, the term “Company” shall include any other obligor with respect to the
Securities for the purposes of complying with such provisions.

          “Company Request” or “Company Order” means a written request or order signed in the name of the Company (a) by its Chairman, Chief
Executive Officer, a Vice Chairman, its President or a Vice President and (b) by its Treasurer, an
Assistant Treasurer, its Secretary or an Assistant Secretary and delivered to the Trustee;
provided, however, that such written request or

6

 

order may be signed by any two of the officers or directors listed in clause (a) above in lieu of
being signed by one of such officers or directors listed in such clause (a) and one of the officers
listed in clause (b) above.

          “Comparable Treasury Issue” means the United States Treasury security selected by a Quotation Agent as having a maturity
comparable to the remaining term of the Securities to be redeemed that would be utilized, at the
time of selection and in accordance with customary financial practice, in pricing new issues of
corporate debt securities of comparable maturity to the remaining term of such Securities.

          “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the average of the Reference Treasury Dealer
Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury
Dealer Quotations, or (2) if the Trustee obtains fewer than three such Reference Treasury Dealer
Quotations, the average of all such quotations.

          “Consolidated Secured Leverage Ratio” means, as of any date, the ratio of:

	 	(1)	 	the sum of (i) the aggregate outstanding principal amount of
all Indebtedness of the Company and its Restricted Subsidiaries outstanding on
such date determined on a consolidated basis, but excluding all Interest Swap
Obligations and all Monetization Indebtedness, plus (ii) (but without
duplication of Indebtedness supported by letters of credit) the aggregate
undrawn face amount of all letters of credit outstanding on such date, in the
case of each of clauses (i) and (ii), to the extent secured by a Lien on any
assets of the Company or any Subsidiary thereof, to
	 
	 	(2)	 	Annual Operating Cash Flow.

          “Continuing Directors” means, as of any date of determination, any member of the board of directors of the Company
who:

	 	(1)	 	was a member of such board of directors on the date the
Company’s Common Stock was registered under the Exchange Act; or
	 
	 	(2)	 	was nominated for election or elected to such board of
directors with the approval of a majority of the Continuing Directors who were
members of such board of directors at the time of such nomination or election.

          “Corporate Trust Office” means the office of the Trustee at which at any particular time its corporate trust business
shall be administered, which office on the date hereof is located at 100 Wall Street,
16th Floor, New York, New York 10005.

          “corporation” includes corporations, associations, partnerships, limited liability companies,
companies and business trusts.

          “Credit Agreement” means that certain credit agreement, dated as of the date of this Indenture, by and among the
Company, Holdings, Citibank, N.A., as Administrative Agent,

7

 

the other agents party thereto and the lenders party thereto from time to time, as amended,
modified, renewed, refunded, replaced, restated, restructured, increased, substituted or refinanced
in whole or in part from time to time, regardless of whether such amendment, modification, renewal,
refunding, replacement, restatement, restructuring, increase, substitution or refinancing is with
the same financial institutions or otherwise.

          “Credit Facilities” means one or more debt or borrowing facilities (including, without limitation, the Credit
Agreement), commercial paper facilities or indentures, in each case with banks or other
institutional lenders or a trustee, providing for revolving credit loans, term loans, receivables
financing (including through the sale of receivables to such lenders or to special purpose entities
formed to borrow from such lenders against such receivables), letters of credit or issuances of
notes, in each case, as amended, modified, renewed, refunded, replaced, restated, restructured,
increased, substituted or refinanced in whole or in part from time to time, regardless of whether
such amendment, modification, renewal, refunding, replacement, restatement, restructuring,
increase, substitution or refinancing is with the same financial institutions or otherwise.

          “Cumulative Cash Flow Credit” means the sum of:

	 	(a)	 	cumulative Operating Cash Flow during the period commencing on
January 1, 2011 and ending on the last day of the most recent month preceding
the date of the proposed Restricted Payment for which financial information is
available or, if cumulative Operating Cash Flow for such period is negative,
minus the amount by which cumulative Operating Cash Flow is less than zero,
plus
	 
	 	(b)	 	the aggregate net proceeds received by the Company from the
issuance or sale (other than to the Company or a Restricted Subsidiary) of its
Capital Stock (other than Disqualified Stock) on or after January 1, 2011, plus
	 
	 	(c)	 	the aggregate net proceeds received by the Company from the
issuance or sale (other than to the Company or a Restricted Subsidiary) of its
Capital Stock (other than Disqualified Stock) on or after January 1, 2011, upon
the conversion of, or exchange for, Indebtedness of the Company or any
Restricted Subsidiary or from the exercise of any options, warrants or other
rights to acquire Capital Stock of the Company.

          For purposes of this definition, the net proceeds in property other than cash received by the
Company as contemplated by clauses (b) and (c) above shall be valued at the Fair Market Value
thereof as of the date of receipt by the Company.

          “Cumulative Interest Expense” means, for the period commencing on January 1, 2011 and ending on the last day of the most
recent month preceding the proposed Restricted Payment for which financial information is
available, the aggregate of the interest expense of the Company and its Restricted Subsidiaries for
such period, determined on a consolidated basis in accordance with GAAP, including interest expense
attributable to Capitalized Lease Obligations.

8

 

          “Debt” with respect to any Person means, without duplication, any liability, whether or not
contingent:

	 	(a)	 	in respect of borrowed money or evidenced by bonds, notes,
debentures or similar instruments or letters of credit (or reimbursement
agreements with respect thereto), but excluding reimbursement obligations under
any surety bond,
	 
	 	(b)	 	representing the balance deferred and unpaid of the purchase
price of any property (including pursuant to Capitalized Lease Obligations),
except any such balance that constitutes a trade payable,
	 
	 	(c)	 	under Swap Contracts (as defined in the Credit Agreement)
relating to interest rates entered into pursuant to the Credit Agreement,
	 
	 	(d)	 	under any other agreement related to the fixing of interest
rates on any Indebtedness, such as an interest swap, cap or collar agreement
(if and to the extent any of the foregoing would appear as a liability upon a
balance sheet of such Person prepared on a consolidated basis in accordance
with GAAP),
	 
	 	(e)	 	Guarantees of items of other Persons which would be included
within this definition for such other Persons, whether or not the Guarantee
would appear on such balance sheet; or
	 
	 	(f)	 	representing Disqualified Stock or Preferred Stock of a
Restricted Subsidiary that is not a Guarantor, valued at the greater of its
voluntary or involuntary maximum fixed repurchase price plus accrued dividends.

          “Debt” does not include:

	 	(a)	 	any liability for federal, state, local or other taxes owed or
owing by such Person, or
	 
	 	(b)	 	any accounts payable or other liability for trade credit,
including Guarantees thereof or instruments evidencing such liabilities.

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

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

          “Disqualified Stock” means any Capital Stock of the Company or any Restricted Subsidiary which, by its terms (or by
the terms of any security into which it is convertible or for which it is exchangeable), or upon
the happening of any event, matures or is mandatorily

9

 

redeemable, pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of
the holder thereof, in whole or in part, on or prior to the maturity date of the Securities.

          “Dolan Family Interests” means (i) any Dolan Family Member, (ii) any trusts for the benefit of any Dolan Family
Members, (iii) any estate or testamentary trust of any Dolan Family Member for the benefit of any
Dolan Family Members, (iv) any executor, administrator, conservator or legal or personal
representative of any Person or Persons specified in clauses (i), (ii) and (iii) above to the
extent acting in such capacity on behalf of any Dolan Family Member or Members and not
individually, (v) any corporation, partnership, limited liability company or other similar entity,
in each case 80% of which is owned and controlled by any of the foregoing or combination of the
foregoing, and (vi) The Dolan Family Foundation, a New York not-for-profit corporation.

          “Dolan Family Members” means Charles F. Dolan, his spouse, his descendants and any spouse of any of such descendants.

          “Domestic Subsidiary” means any Restricted Subsidiary other than a Restricted Subsidiary that is (i) a “controlled
foreign corporation” under Section 957 of the Internal Revenue Code of 1986, as amended (other than
any such entity that Guarantees Indebtedness of the Company or of any of its other Domestic
Subsidiaries), or (ii) a Subsidiary of an entity described in the preceding clause (i).

          “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but
excluding any debt security that is convertible into, or exchangeable for, Capital Stock).

          “Event of Default” has the meaning specified in Article Five.

          “Excess Proceeds” has the meaning specified in Section 1014(c).

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

          “Existing Indebtedness” means the aggregate principal amount of Indebtedness of the Company and its Subsidiaries
(other than Indebtedness under the Credit Agreement) in existence on the date of this Indenture
after giving effect to the application of the proceeds of (i) the Securities and (ii) any
borrowings made under the Credit Agreement on the date of this Indenture.

          “Fair Market Value” means the price that would be paid in an arm’s length transaction between an informed and
willing seller under no compulsion to sell and an informed and willing buyer under no compulsion to
buy, as determined, unless otherwise specified, in good faith by the board of directors or senior
management, whose determination in all cases shall be conclusive.

          “Generally Accepted Accounting Principles” or “GAAP” means U.S. generally accepted accounting principles, as in effect on the date of
determination, consistently applied.

10

 

          “Global Security” means one or more Securities evidencing all or a part of the Securities to be issued as
Book-Entry Securities, issued to the Depository in accordance with Section 303 and bearing the
legend prescribed in Section 206 and, in the case of a Restricted Security, the legend prescribed
in Section 205.

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

          “Guarantors” means:

	 	(1)	 	each direct or indirect Domestic Subsidiary on the date of this
Indenture, other than any Insignificant Subsidiary; and
	 
	 	(2)	 	any other Subsidiary that executes a Note Guarantee in
accordance with the provisions of this Indenture;

and their respective successors and assigns until released from their obligations under their Note
Guarantees and this Indenture in accordance with the terms of this Indenture.

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

	 	(1)	 	interest rate swap agreements, interest rate cap agreements,
interest rate collar agreements and other agreements or arrangements with
respect to interest rates;
	 
	 	(2)	 	commodity swap agreements, commodity option agreements, forward
contracts and other agreements or arrangements with respect to commodity
prices; and
	 
	 	(3)	 	foreign exchange contracts, currency swap agreements and other
agreements or arrangements with respect to foreign currency exchange rates.

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

          “Holdings” means BBHI Holdings LLC, a Delaware limited liability company, and its successors and assigns.

          “Indebtedness” with respect to any Person means the Debt of such Person; provided that, for purposes of the
definition of “Indebtedness” (including the term “Debt” to the extent incorporated in such
definition) and for purposes of the definition of “Event of Default,” the term “Guarantee” shall
not be interpreted to extend to a Guarantee under which recourse is limited to the Capital Stock of
an entity that is not a Restricted Subsidiary.

11

 

          “Indenture” means this instrument as originally executed (including all exhibits and schedules hereto) and
as it may from time to time be supplemented or amended by one or more indentures supplemental
hereto entered into pursuant to the applicable provisions hereof.

          “Initial Interest Payment Date” has the meaning specified in Section 301.

          “Initial Securities” has the meaning specified in the recitals to this Indenture.

          “Insignificant Subsidiary” means any Subsidiary designated by the Company as an “Insignificant Subsidiary;” provided that
the total assets of all Subsidiaries that are so designated, as reflected on the Company’s most
recent consolidating balance sheet prepared in accordance with GAAP, do not in the aggregate at any
time exceed $15.0 million.

          “Interest Payment Date” means the Stated Maturity of an installment of interest on the Securities.

          “Interest Swap Obligations” means, with respect to any Person, the obligations of such Person pursuant to any arrangement
with any other Person whereby, directly or indirectly, such Person is entitled to receive from time
to time periodic payments calculated by applying either a floating or a fixed rate of interest on a
stated notional amount in exchange for periodic payments made by such Person calculated by applying
a fixed or a floating rate of interest on the same notional amount.

          “Investment” means any advance, loan, account receivable (other than an account receivable arising in the
ordinary course of business or owing to the Company or any Restricted Subsidiary from any
Unrestricted Subsidiary for management or other services or other overhead or shared expenses
allocated in the ordinary course of business provided by the Company or any Restricted Subsidiary
to such Unrestricted Subsidiary), or other extension of credit (excluding, however, accrued and
unpaid interest in respect of any advance, loan or other extension of credit) or any capital
contribution to (by means of transfers of property to others, payments for property or services for
the account or use of others, or otherwise), any purchase or ownership of any stock, bonds, notes,
debentures or other securities (including, without limitation, any interests in any partnership or
joint venture) of, or any bank accounts with or Guarantee of any Indebtedness or other obligations
of, any Unrestricted Subsidiary or Affiliate that is not a Subsidiary; provided that (a) the term
“Investment” shall not include any transaction that would otherwise constitute an Investment of the
Company or a Subsidiary to the extent that the consideration provided by the Company or such
Subsidiary in connection therewith consists of Capital Stock of the Company (other than
Disqualified Stock) and (b) the term “Guarantee” shall not be interpreted to extend to a guarantee
under which recourse is limited to the Capital Stock of an entity that is not a Restricted
Subsidiary.

          “Investment Grade Rating” means (1) a rating of BBB- or better, in the case of S&P (or its equivalent under any
successor Rating Categories of S&P) and a rating of Baa3 or better, in the case of Moody’s (or its
equivalent under any successor Rating Categories of Moody’s), or (2) in each case, if a Rating
Agency in the foregoing clause (1) ceases to rate the Securities for reasons outside the control of
the Company, an equivalent Rating Category of any other Rating Agency.

12

 

          “Lease” means any capital lease, operating lease, equipment lease, real property lease or other lease.

          “Lien” means any lien, security interest, charge or encumbrance of any kind (including any
conditional sale or other title retention agreement, any lease in the nature of a security interest
and any agreement to give any security interest). A Person shall be deemed to own subject to a
Lien any property which such Person has acquired or holds subject to the interest of a vendor or
lessor under a conditional sale agreement, capital lease or other title retention agreement.

          “Material Subsidiary” means a Subsidiary (or Subsidiaries which together constitute a Material Subsidiary) that
meets any of the following conditions:

	 	(a)	 	the consolidated total assets of the Subsidiary exceeds 10% of
the total assets of the Company and its Subsidiaries on a consolidated basis as
of the end of the most recently completed fiscal year, or
	 
	 	(b)	 	the consolidated revenues of the Subsidiary exceed 10% of the
revenues of the Company and its Subsidiaries on a consolidated basis for the
most recently completed fiscal year.

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

          “Members” means the Person or Persons owning all of the Common Stock of the Company.

          “Member Resolution” means a copy of a resolution duly adopted by the Members and delivered to the Trustee.

          “Monetization Indebtedness” means any Indebtedness of the Company or any Restricted Subsidiary thereof issued in
connection with a Monetization Transaction; provided that, (i) on the date of its incurrence, the
purchase price or principal amount of such Monetization Indebtedness does not exceed the Fair
Market Value of the securities that are the subject of such Monetization Transaction on such date
and (ii) the obligations of the Company and its Restricted Subsidiaries with respect to the
purchase price or principal amount of such Monetization Indebtedness (x) may be satisfied in full
by delivery of the securities that are the subject of such Monetization Transaction and any related
options on such securities or any proceeds received by the Company or any Restricted Subsidiary
thereof on account of such options; provided that if the Company or such Restricted Subsidiary no
longer owns sufficient securities that were the subject of such Monetization Transaction and/or
related options on such securities to satisfy in full the obligations of the Company and its
Restricted Subsidiaries under such Monetization Indebtedness, such Indebtedness shall no longer be
deemed to be Monetization Indebtedness, and (y) are not secured by any Liens on any of the
Company’s or its Restricted Subsidiaries’ assets other than the securities that are the subject of
such Monetization Transaction and the related options on such securities.

13

 

          “Monetization Transaction” means a transaction pursuant to which (i) securities received pursuant to an Asset Sale are
sold, transferred or otherwise conveyed (including by way of a forward purchase agreement, prepaid
forward sale agreement, secured borrowing or similar agreement) within 180 days of such Asset Sale
and (ii) the Company receives (including by way of borrowing under Monetization Indebtedness) not
less than 75% of the Fair Market Value of such securities in the form of cash.

          “Moody’s” means Moody’s Investors Service, Inc. and its successors.

          “Net Proceeds” means the aggregate cash proceeds, including payments in respect of deferred payment
obligations (to the extent corresponding to the principal, but not the interest component, thereof)
received by the Company or any of its Restricted Subsidiaries in respect of any Asset Sale
(including, without limitation, any cash received upon the sale or other disposition of any
non-cash consideration received in any Asset Sale), net of (1) the direct costs relating to such
Asset Sale, including, without limitation, legal, accounting, investment banking and brokerage
fees, and sales commissions, and any relocation expenses incurred as a result thereof, (2) taxes
paid or payable as a result thereof, in each case, after taking into account any available tax
credits or deductions and any tax sharing arrangements, (3) amounts required to be applied to the
repayment of Indebtedness or other liabilities, secured by a Lien on the asset or assets that were
the subject of such Asset Sale, or is required to be paid as a result of such sale, (4) any reserve
for adjustment in respect of the sale price of such asset or assets established in accordance with
GAAP and (5) appropriate amounts to be provided by the Company or its Restricted Subsidiaries as a
reserve against liabilities associated with such Asset Sale, including, without limitation, pension
and other post employment benefit liabilities, liabilities related to environmental matters and
liabilities under any indemnification obligations associated with such Asset Sale, all as
determined in accordance with GAAP.

          “Note Guarantee” means a Guarantee of the Securities pursuant to this Indenture.

          “Offer Amount” has the meaning specified in Section 1108.

          “Offer Period” has the meaning specified in Section 1108.

          “Offering Memorandum” means the final offering memorandum, dated December 1, 2010, relating to the sale of the
Initial Securities.

          “Officers’ Certificate” means a certificate signed by (a) the Chairman, Chief Executive Officer, a Vice Chairman, the
President, a Vice President or the Treasurer of the Company and (b) the Secretary or an Assistant
Secretary of the Company and delivered to the Trustee; provided, however, that such certificate may
be signed by two of the officers or directors listed in clause (a) above in lieu of being signed by
one of such officers or directors listed in such clause (a) and one of the officers listed in
clause (b) above.

          “Operating Cash Flow” means, for any period, the following for the Company and its Restricted Subsidiaries for such
period, determined on a consolidated basis in accordance with GAAP: (a) aggregate operating
revenues minus (b) aggregate operating expenses (including technical, programming, sales, selling,
general and administrative expenses and salaries and other compensation, in each case net of
amounts allocated to Affiliates, but excluding

14

 

depreciation and amortization and charges and credits relating to employee stock plans and
restructuring charges and credits and, to the extent otherwise included in operating expenses, any
losses resulting from a write-off or write-down of Investments by the Company or any Restricted
Subsidiary in Affiliates); provided, however, that for purposes of determining Operating Cash Flow
for any period (A) there shall be excluded all management fees paid to the Company or any
Restricted Subsidiary during such period by any Unrestricted Subsidiary other than any such amounts
settled in cash to the extent not in excess of 5% of Operating Cash Flow for the Company and its
Restricted Subsidiaries as determined without including any such fees, and (B) Operating Cash Flow
for such period shall be increased or reduced, as the case may be, by the Operating Cash Flow of
assets or businesses acquired or disposed of (provided that in each case it has an impact on Annual
Operating Cash Flow of at least $500,000) (including by means of any redesignation of any
Subsidiary pursuant to Section 1012) by the Company or any Restricted Subsidiary on or after the
first day of such period, determined on a pro forma basis (it being agreed that such pro forma
calculations may be based upon GAAP as applied in the preparation of the financial statements for
the Company, delivered in accordance with Section 703 rather than as applied in the financial
statements of the entity whose assets were acquired and may include, in the Company’s discretion, a
reasonable estimate of savings resulting from any such acquisition or disposition (1) that have
been realized, (2) for which the steps necessary for realization have been taken, or (3) for which
the steps necessary for realization are reasonably expected to be taken within 12 months of the
date of such acquisition), as though the Company or such Restricted Subsidiary acquired or disposed
of such assets on the first day of such period. For purposes of this definition, operating
revenues and operating expenses shall exclude any non-recurring, non-cash items in excess of
$5,000,000.

          “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Company.

          “Outstanding” when used with respect to Securities means, as of the date of determination, all Securities
theretofore authenticated and delivered under this Indenture, except:

	 	(a)	 	Securities theretofore canceled by the Trustee or delivered to
the Trustee for cancellation;
	 
	 	(b)	 	Securities, or portions thereof, for whose payment or purchase
money in the necessary amount has been theretofore deposited with the Trustee
or any Paying Agent (other than the Company) in trust or set aside and
segregated in trust by the Company (if the Company shall act as its own Paying
Agent) for the Holders of such Securities;
	 
	 	(c)	 	Securities, except to the extent provided in Sections 1302 and
1303, with respect to which the Company has effected defeasance and/or covenant
defeasance as provided in Article Thirteen; and
	 
	 	(d)	 	Securities paid pursuant to Section 306, Securities in exchange
for which, or in lieu of which, other Securities have been authenticated and
delivered pursuant to this Indenture, other than any such Securities in respect
of which there shall have been presented to the Trustee proof satisfactory to

15

 

	 	 	 	it that such Securities are held by a bona fide purchaser in whose hands the
Securities are valid obligations of the Company;

provided, however, that, in determining whether the Holders of the requisite principal amount of
Outstanding Securities have given any request, demand, direction, consent or waiver hereunder,
Securities owned by the Company or any other obligor upon the Securities, or any Affiliate of the
Company, or such other obligor, shall be disregarded and deemed not to be Outstanding, except that,
in determining whether the Trustee shall be protected in relying upon any such request, demand,
direction, consent or waiver, only Securities which a Responsible Officer of the Trustee actually
knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good
faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee
the pledgee’s right so to act with respect to such Securities and that the pledgee is not the
Company or any other obligor upon the Securities or any Affiliate of the Company or such other
obligor.

          “Paying Agent” means any Person authorized by the Company to pay the principal of or interest on any
Securities on behalf of the Company.

          “Permitted Additional Secured Obligations” means obligations under any other Indebtedness (other than subordinated Indebtedness),
including, without limitation, under any Credit Facility, secured by Liens; provided that
immediately after giving effect to the incurrence of such obligations, the Consolidated Secured
Leverage Ratio of the Company and its Restricted Subsidiaries would be less than or equal to 4.5 to
1.0.

          “Permitted Business” means any business conducted or proposed to be conducted (as described in the Offering
Memorandum) by the Company and its Restricted Subsidiaries on the date of this Indenture and other
businesses reasonably related or ancillary thereto.

          “Permitted Debt” has the meaning specified in Section 1007.

          “Permitted Investments” means:

	 	(1)	 	any Investment in the Company or in a Restricted Subsidiary;
	 
	 	(2)	 	any Investment in cash, Cash Equivalents or marketable
securities;
	 
	 	(3)	 	any Investment by the Company or any Restricted Subsidiary in a
Person, if as a result of such Investment:

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

	 	(4)	 	any Investment made as a result of the receipt of non-cash
consideration from an Asset Sale that was made pursuant to and in compliance
with Section 1014;

16

 

	 	(5)	 	Investments to the extent acquired in exchange for the issuance
of Equity Interests (other than Disqualified Stock) of the Company;
	 
	 	(6)	 	Hedging Obligations that are incurred for the purpose of
fixing, hedging or swapping interest rate, commodity price or foreign currency
exchange rate risk (or to reverse or amend any such agreements previously made
for such purposes), and not for speculative purposes, and that do not increase
the Indebtedness of the obligor outstanding at any time other than as a result
of fluctuations in interest rates, commodity prices or foreign currency
exchange rates or by reason of fees, indemnities and compensation payable
thereunder;
	 
	 	(7)	 	any Investments received in satisfaction of judgments or in
settlement of debt or compromises of obligations incurred in the ordinary
course of business, including pursuant to any plan of reorganization or similar
arrangement upon bankruptcy or insolvency;
	 
	 	(8)	 	any Investments received as a result of a foreclosure by the
Company or any of its Restricted Subsidiaries with respect to any secured
Investment or other transfer of title with respect to any secured Investment in
default;
	 
	 	(9)	 	advances to customers or suppliers in the ordinary course of
business that are recorded in accordance with GAAP as accounts receivable or
prepaid expenses or lease, utility or other similar deposits in the ordinary
course of business;
	 
	 	(10)	 	Investments consisting of the licensing or contribution of
intellectual property in the ordinary course of business;
	 
	 	(11)	 	Investments existing on the date of this Indenture and any
modification, replacement, renewal or extension thereof; provided, that the
amount of the Investment outstanding on the date of this Indenture is not
increased except pursuant to the terms of such Investment (in existence on the
date of this Indenture) or is otherwise a Permitted Investment pursuant to a
separate clause of this definition;
	 
	 	(12)	 	receivables owing to the Company or any of its Restricted
Subsidiaries, including receivables from and advances to suppliers, if created,
acquired or made in the ordinary course of business and payable or
dischargeable in accordance with customary trade terms;
	 
	 	(13)	 	loans and advances to officers, directors, employees,
consultants and members of management (including for travel, entertainment,
relocation and analogous business expenses) in an aggregate amount not to
exceed $5,000,000 at any time outstanding; provided that such loans and
advances shall comply with all applicable laws;

17

 

	 	(14)	 	Investments (including debt obligations) (i) received in
connection with the bankruptcy and reorganization of suppliers and customers in
settlement of delinquent obligations of, and (ii) received in connection with
the settlement of other disputes with customers and suppliers;
	 
	 	(15)	 	Investments consisting of extensions of credit or endorsements
for collection or deposit in the ordinary course of business;
	 
	 	(16)	 	Guarantees provided to franchise authorities to guarantee
obligations under franchises;
	 
	 	(17)	 	Guarantees of leases of the Company or any of its Restricted
Subsidiaries entered into in the ordinary course of business;
	 
	 	(18)	 	Investments in one or more Unrestricted Subsidiaries or joint
ventures having an aggregate Fair Market Value that do not exceed $50.0 million
at any one time outstanding (with the Fair Market Value of each Investment
being measured at the time made and without giving effect to subsequent changes
in value); and
	 
	 	(19)	 	other Investments having an aggregate Fair Market Value, taken
together with all other Investments made pursuant to this clause (19), that do
not exceed $50.0 million at any one time outstanding (with the Fair Market
Value of each Investment being measured at the time made and without giving
effect to subsequent changes in value).

          “Permitted Liens” means the following types of Liens:

	 	(a)	 	Liens existing on the issuance date of the Securities,
	 
	 	(b)	 	Liens on shares of the Capital Stock of an entity that is not a
Restricted Subsidiary, which Liens solely secure a Guarantee by the Company or
a Restricted Subsidiary, or both, of Indebtedness of such entity,
	 
	 	(c)	 	Liens securing Monetization Indebtedness,
	 
	 	(d)	 	Liens on Receivables and Related Assets (and proceeds thereof)
securing only Indebtedness otherwise permitted to be incurred by a
Securitization Subsidiary,
	 
	 	(e)	 	Liens securing obligations under any Credit Facilities in an
amount not to exceed $1,040.0 million,
	 
	 	(f)	 	Liens granted in favor of the Company or any Restricted
Subsidiary,
	 
	 	(g)	 	Liens securing Permitted Additional Secured Obligations,
	 
	 	(h)	 	Liens securing the Securities,

18

 

	 	(i)	 	Liens on property or assets of a Person existing at the time
such Person is merged with or into or consolidated with the Company or any
Restricted Subsidiary; provided that such Liens were in existence prior to the
contemplation of such merger or consolidation and do not extend to any
properties or assets other than those of the Person merged into or consolidated
with the Company or the Restricted Subsidiary,
	 
	 	(j)	 	Liens on property or assets existing at the time of acquisition
thereof by the Company or any Restricted Subsidiary, provided that such Liens
were in existence prior to the contemplation of such transaction and do not
extend to any properties or assets other than those so acquired by the Company
or the Restricted Subsidiary,
	 
	 	(k)	 	Liens on property or assets used to defease Indebtedness that
was not incurred in violation of this Indenture,
	 
	 	(l)	 	Liens securing Hedging Obligations or “margin stock,” as
defined in Regulations G and U of the Board of Governors of the Federal Reserve
System,
	 
	 	(m)	 	Liens on cash or Cash Equivalents securing Hedging Obligations
of the Company or any of its Restricted Subsidiaries that do not constitute
Indebtedness or securing letters of credit that support such Hedging
Obligations,
	 
	 	(n)	 	statutory Liens of landlords and carriers, warehousemen,
mechanics, suppliers, materialmen, repairmen or other like liens arising in the
ordinary course of business of the Company or any Restricted Subsidiary and
with respect to amounts not yet delinquent or being contested in good faith by
appropriate proceedings,
	 
	 	(o)	 	Liens for taxes, assessments, government charges or claims not
yet delinquent or that are being contested in good faith by appropriate
proceedings,
	 
	 	(p)	 	zoning restrictions, easements, rights-of-way, restrictions and
other similar charges or encumbrances or minor defects in title not interfering
in any material respect with the business of the Company or any of its
Restricted Subsidiaries,
	 
	 	(q)	 	Liens arising by reason of any judgment, decree or order of any
court, arbitral tribunal or similar entity so long as any appropriate legal
proceedings that may have been initiated for the review of such judgment,
decree or order have not been finally terminated or the period within which
such proceedings may be initiated has not expired,

19

 

	 	(r)	 	Liens incurred or deposits made in the ordinary course of
business in connection with workers’ compensation, unemployment insurance and
other types of social security or similar legislation,
	 
	 	(s)	 	Liens securing the performance of bids, tenders, leases,
contracts, franchises, public or statutory obligations, surety, stay or appeal
bonds, or other similar obligations arising in the ordinary course of business,
	 
	 	(t)	 	Liens arising from precautionary Uniform Commercial Code
financing statements regarding operating leases or consignments,
	 
	 	(u)	 	Liens of franchisors in the ordinary course of business not
securing Indebtedness,
	 
	 	(v)	 	Liens in favor of collecting or payor banks having a right of
setoff, revocation, refund or chargeback with respect to money or instruments
of the Company or any Subsidiary thereof on deposit with or in possession of
such bank,
	 
	 	(w)	 	any interest or title of a lessor, licensor or sublicensor in
the property subject to any lease, license or sublicense,
	 
	 	(x)	 	purchase money mortgages or other purchase money liens
(including, without limitation, any Capitalized Lease Obligations) upon any
fixed or capital assets acquired after the issuance date of the Securities, or
purchase money mortgages (including, without limitation, Capitalized Lease
Obligations) on any such assets hereafter acquired or existing at the time of
acquisition of such assets, whether or not assumed, so long as (i) such
mortgage or lien does not extend to or cover any other asset of the Company or
any Restricted Subsidiary and (ii) such mortgage or lien secures the obligation
to pay the purchase price of such asset, interest thereon and other charges
incurred in connection therewith (or the obligation under such Capitalized
Lease Obligation) only,
	 
	 	(y)	 	Liens to secure Indebtedness (including Capitalized Lease
Obligations) permitted by clause (4) of Section 1007(b) covering only the
assets acquired with such Indebtedness,
	 
	 	(z)	 	Liens securing reimbursement obligations with respect to
commercial letters of credit which encumber documents and other property
relating to such letters of credit and products and proceeds thereof,
	 
	 	(aa)	 	Liens encumbering deposits made to secure obligations arising
from statutory, regulatory, contractual or warranty requirements of the Company
or any of its Restricted Subsidiaries, including rights of offset and set-off,

20

 

	 	(bb)	 	any extension, renewal or replacement, in whole or in part, of
any Lien described in the immediately preceding clauses; provided that any such
extension, renewal or replacement is no more restrictive in any material
respect than the Lien so extended, renewed or replaced and does not extend to
any additional property or assets, and
	 
	 	(cc)	 	Liens incurred in the ordinary course of business of the
Company or any Restricted Subsidiary with respect to obligations that do not
exceed $10.0 million at any one time outstanding.

          “Permitted Refinancing Indebtedness” means:

	 	(A)	 	any Indebtedness of the Company or any of its Restricted
Subsidiaries (other than Disqualified Stock) issued in exchange for, or the net
proceeds of which are used to extend, refinance, renew, replace, defease or
refund other Indebtedness of the Company or any of its Restricted Subsidiaries
(other than Disqualified Stock and intercompany Indebtedness); provided that:

	 	(1)	 	the principal amount (or accreted value, if
applicable) of such Permitted Refinancing Indebtedness does not exceed
the principal amount (or accreted value, if applicable) of the
Indebtedness so extended, refinanced, renewed, replaced, defeased or
refunded (plus all accrued and unpaid interest thereon and the amount
of any reasonable premium necessary to accomplish such refinancing and
such reasonable expenses incurred in connection therewith);
	 
	 	(2)	 	such Permitted Refinancing Indebtedness has a
final maturity date later than the final maturity date of, and has a
Weighted Average Life to Maturity equal to or greater than the Weighted
Average Life to Maturity of, the Indebtedness being extended,
refinanced, renewed, replaced, defeased or refunded;
	 
	 	(3)	 	if the Indebtedness being extended, refinanced,
renewed, replaced, defeased or refunded is subordinated in right of
payment to the Securities or the Note Guarantees, such Permitted
Refinancing Indebtedness has a final maturity date later than the final
maturity date of, and is subordinated in right of payment to, the
Securities on terms at least as favorable, taken as a whole in all
material respects, to the Holders of Securities as those contained in
the documentation governing the Indebtedness being extended,
refinanced, renewed, replaced, defeased or refunded;
	 
	 	(4)	 	if the Indebtedness being extended, refinanced,
renewed, replaced, defeased or refunded is pari passu in right of
payment with the Securities or any Note Guarantees, such Permitted
Refinancing

21

 

	 	 	 	Indebtedness is pari passu with, or subordinated in right of payment
to, the Securities or the Note Guarantees; and
	 
	 	(5)	 	such Indebtedness is incurred either by the
Company or by the Restricted Subsidiary who is the obligor on the
Indebtedness being extended, refinanced, renewed, replaced, defeased or
refunded; and

	 	(B)	 	any Disqualified Stock of the Company or any of its Restricted
Subsidiaries issued in exchange for, or the net proceeds of which are used to
extend, refinance, renew, replace or refund Indebtedness or other Disqualified
Stock of the Company or any of its Restricted Subsidiaries (other than
Indebtedness or Disqualified Stock held by the Company or any of its Restricted
Subsidiaries); provided that:

	 	(1)	 	the liquidation or face value of such Permitted
Refinancing Indebtedness does not exceed the principal amount (or
accreted value, if applicable) of the Indebtedness, or the liquidation
or face value of the Disqualified Stock, as applicable, so extended,
refinanced, renewed, replaced or refunded (plus all accrued and unpaid
interest or dividends thereon and the amount of any reasonable premium
necessary to accomplish such refinancing and such reasonable expenses
incurred in connection therewith);
	 
	 	(2)	 	such Permitted Refinancing Indebtedness has a
final redemption date later than the final maturity or redemption date
of, and has a Weighted Average Life to Maturity equal to or greater
than the Weighted Average Life to Maturity of, the Indebtedness or
Disqualified Stock being extended, refinanced, renewed, replaced or
refunded;
	 
	 	(3)	 	such Permitted Refinancing Indebtedness has a
final redemption date later than the final maturity date of, and is
subordinated in right of payment to, the Securities on terms at least
as favorable, taken as a whole in all material respects, to the Holders
of Securities as those contained in the documentation governing the
Indebtedness or Disqualified Stock being extended, refinanced, renewed,
replaced or refunded;
	 
	 	(4)	 	such Permitted Refinancing Indebtedness is not
redeemable at the option of the holder thereof or mandatorily
redeemable prior to the final maturity or redemption date of the
Indebtedness or Disqualified Stock being extended, refinanced, renewed,
replaced or refunded; and
	 
	 	(5)	 	such Disqualified Stock is issued either by the
Company or by the Restricted Subsidiary who is the issuer of the
Indebtedness or

22

 

	 	 	 	Disqualified Stock being extended, refinanced, renewed, replaced or
refunded.

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

          “Physical Security” has the meaning specified in Section 303.

          “Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the
same debt as that evidenced by such particular Security; and, for the purposes of this definition,
any Security authenticated and delivered under Section 306 in exchange for a mutilated security or
in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same debt as the
mutilated, lost, destroyed or stolen Security.

          “Preferred Stock” means, with respect to any Person, any and all shares, interests, participations or other
equivalents (however designated) of such Person’s preferred or preference stock, whether now
outstanding or issued after the date of this Indenture, and includes, without limitation, all
classes and series of preferred or preference stock.

          “Purchase Date” has the meaning specified in Section 1108.

          “Qualified Equity Offering” means (i) an offer and sale of Equity Interests (other than Disqualified Stock) of the Company
pursuant to a registration statement that has been declared effective by the Commission pursuant to
the Securities Act (other than a registration statement on Form S-8 or otherwise relating to equity
securities issuable under any employee benefit plan of the Company) or (ii) any private placement
of Equity Interests (other than Disqualified Stock) of the Company to any Person other than a
Subsidiary.

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

          “Quotation Agent” means the Reference Treasury Dealer appointed by the Trustee after consultation with the
Company.

          “Rating Agency” means (1) each of S&P and Moody’s and (2) if S&P or Moody’s ceases to rate the Securities for
reasons outside the control of the Company, a “nationally recognized statistical rating
organization” within the meaning of Rule 15c-3-1(c)(vi)(F) under the Exchange Act selected by the
Company, which shall be substituted for S&P or Moody’s, as the case may be.

          “Rating Category” means (1) with respect to S&P, any of the following categories (any of which may include a “+”
or “—”at the end thereof): AAA, AA, A, BBB, BB, B, CCC, CC, C and D (or equivalent successor
categories), (2) with respect to Moody’s, any of the following categories any of which may include
a “1,” “2” or “3” at the end thereof: Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C and D (or equivalent
successor categories), and (3) the equivalent of any such categories of S&P or Moody’s used by
another Rating Agency, if applicable.

23

 

          “Receivables and Related Assets” means:

	 	(a)	 	accounts receivable, instruments, chattel paper, obligations,
general intangibles, equipment and other similar assets, including interests in
merchandise or goods, the sale or lease of which gives rise to the foregoing,
related contractual rights, Guarantees, insurance proceeds, collections and
other related assets,
	 
	 	(b)	 	equipment,
	 
	 	(c)	 	inventory, and
	 
	 	(d)	 	proceeds of all of the above.

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

          “Redemption Price” has the meaning specified in Section 1107.

          “Reference Treasury Dealer” means (1) Merrill Lynch, Pierce, Fenner & Smith Incorporated and its successors; provided,
however, that if the foregoing shall cease to be a primary U.S. Government securities dealer in New
York City (a “Primary Treasury Dealer”), the Company shall substitute therefor another Primary
Treasury Dealer; and (2) any other Primary Treasury Dealers selected by the Trustee after
consultation with the Company.

          “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as
determined by the Trustee, of the bid and ask prices for the Comparable Treasury Issue (expressed
in each case as a percentage of its principal amount) quoted in writing to the Trustee by such
Reference Treasury Dealer at 5:00 p.m. on the third business day preceding such Redemption Date.

          “Regular Record Date” for the interest payable on any Interest Payment Date means the June 1 or December 1 (whether
or not a Business Day), as the case may be, next preceding such Interest Payment Date.

          “Regulation S Global Security” has the meaning specified in Section 303.

          “Replacement Assets” means any combination of (i) non-current assets that shall be used or useful in a Permitted
Business or (ii) all or substantially all the assets of a Permitted Business or a majority of the
Voting Stock of any Person engaged in a Permitted Business (including by means of a merger,
consolidation or other business combination permitted under this Indenture) that shall become on
the date of acquisition thereof a Restricted Subsidiary.

          “Repurchase Offer” has the meaning specified in Section 1108.

          “Responsible Officer”, when used with respect to the Trustee, means any vice president, any assistant vice president,
any trust officer or assistant trust officer or any other officer of the Trustee customarily
performing functions similar to those performed by any of the

24

 

above designated officers or assigned by the Trustee to administer corporate trust matters and also
means, with respect to a particular corporate trust matter, any other officer to whom such matter
is referred because of his knowledge of and familiarity with the particular subject.

          “Restricted Investment” means any Investment other than a Permitted Investment.

          “Restricted Payment” means:

	 	(a)	 	any Stock Payment by the Company or a Restricted Subsidiary,
	 
	 	(b)	 	any direct or indirect payment by the Company or a Restricted
Subsidiary to redeem, purchase, defease or otherwise acquire or retire for
value, prior to any scheduled maturity, scheduled repayment or scheduled
sinking fund payment, any Indebtedness of the Company that is subordinate in
right of payment to the Securities; provided, however, that any direct or
indirect payment by the Company or a Restricted Subsidiary to redeem, purchase,
defease or otherwise acquire or retire for value, prior to any scheduled
maturity, scheduled repayment or scheduled sinking fund payment, any
Indebtedness of the Company that is subordinate in right of payment to the
Securities shall not be a Restricted Payment if either (i) after giving effect
thereto, the ratio of the Senior Indebtedness of the Company and its Restricted
Subsidiaries to Annual Operating Cash Flow is less than or equal to 5 to 1 or
(ii) such subordinate Indebtedness is redeemed, purchased, defeased or
otherwise acquired or retired in exchange for, or out of, (x) the proceeds of a
sale (within one year before or 180 days after such redemption, purchase,
defeasance, acquisition or retirement) of Permitted Refinancing Indebtedness or
Capital Stock of the Company or warrants, rights or options to acquire Capital
Stock of the Company or (y) any source of funds other than the incurrence of
Indebtedness (it being understood that the use of such funds to repay
Indebtedness that is later reborrowed to redeem, purchase, defease or otherwise
acquire or retire the subordinate Indebtedness shall be considered a source of
funds other than the incurrence of Indebtedness),
	 
	 	(c)	 	any direct or indirect payment by the Company or a Restricted
Subsidiary to redeem, purchase, defease or otherwise acquire or retire for
value any Disqualified Stock at its mandatory redemption date or other maturity
date if and to the extent that Indebtedness is incurred to finance such
redemption, purchase, defeasance or other acquisition or retirement, or
	 
	 	(d)	 	any Restricted Investment.

          Notwithstanding the foregoing, Restricted Payments shall not include (a) payments by any
Restricted Subsidiary to the Company or any other Restricted Subsidiary or (b) any Permitted
Investment or designation of a Restricted Subsidiary as an Unrestricted Subsidiary permitted under
Section 1012.

          “Restricted Security” has the meaning specified in Section 205.

25

 

          “Restricted Subsidiary” means any Subsidiary, whether existing on the date of this Indenture or created subsequent
thereto, designated from time to time by the Company as a “Restricted Subsidiary”; provided,
however, that no Subsidiary that is not a Securitization Subsidiary can be or remain so designated
unless (a) at least 67% of each of the total equity interest and the voting control of such
Subsidiary is owned, directly or indirectly, by the Company or another Restricted Subsidiary and
(b) such Subsidiary is not restricted, pursuant to the terms of any loan agreement, note, indenture
or other evidence of indebtedness, from

	 	(i)	 	paying dividends or making any distribution on such
Subsidiary’s Capital Stock or other equity securities or paying any
Indebtedness owed to the Company or to any Restricted Subsidiary,
	 
	 	(ii)	 	making any loans or advances to the Company or any Restricted
Subsidiary, or
	 
	 	(iii)	 	transferring any of its properties or assets to the Company or
any Restricted Subsidiary

(it being understood that a financial covenant any of the components of which are directly impacted
by the taking of the action (e.g., the payment of a dividend) itself (such as a minimum net worth
test) would be deemed to be a restriction on the foregoing actions, while a financial covenant none
of the components of which is directly impacted by the taking of the action (e.g., the payment of a
dividend) itself (such as a debt to cash flow test) would not be deemed to be a restriction on the
foregoing actions); and provided further that the Company may, from time to time, redesignate any
Restricted Subsidiary as an Unrestricted Subsidiary in accordance with Section 1012.

          “Rule 144A Global Security” has the meaning specified in Section 303.

          “S&P” means Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies,
Inc., and its successors.

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

          “Securities Issue Date” means December 14, 2010 with respect to the Initial Securities and the date of original
issuance of the Additional Securities with respect to any Additional Securities.

          “Securitization Subsidiary” means a Restricted Subsidiary that is established for the limited purpose of acquiring and
financing Receivables and Related Assets and engaging in activities ancillary thereto; provided
that (a) no portion of the Indebtedness of a Securitization Subsidiary is Guaranteed by or is
recourse to the Company or any other Restricted Subsidiary (other than recourse for customary
representations, warranties, covenants and indemnities, none of which relates to the collectability
of the Receivables and Related Assets) and (b) none of the Company or any other Restricted
Subsidiary has any obligation to maintain or preserve such Securitization Subsidiary’s financial
condition.

26

 

          “Security” and “Securities” have the meaning specified in the second paragraph of this Indenture, such terms to include
the Initial Securities and any Additional Securities. The Initial Securities and any Additional
Securities shall be treated as a single class for all purposes of this Indenture.

          “Security Register” and “Security Registrar” have the respective meanings specified in Section 305.

          “Senior Indebtedness” means, with respect to any Person, all principal of (premium, if any) and interest (including
interest accruing on or after the filing of any petition in bankruptcy or for reorganization
relating to such Person whether or not a claim for post filing interest is allowed in such
proceedings) with respect to all Indebtedness of such Person; provided that Senior Indebtedness
shall not include

          (a) any Indebtedness of such Person that, by its terms or the terms of the instrument creating
or evidencing such Indebtedness, is expressly subordinate in right of payment to the Securities,

          (b) any Guarantee of Indebtedness of any subsidiary of such Person if recourse against such
Guarantee is limited to the Capital Stock or other equity interests of such subsidiary,

          (c) any obligation of such Person to any subsidiary of such Person or, in the case of a
Restricted Subsidiary, to the Company or any other Subsidiary, or

          (d) any Indebtedness of such Person (and any accrued and unpaid interest in respect thereof)
that is subordinate or junior in any respect to any other Indebtedness or other obligation of such
Person.

          “Significant Subsidiary” means any Subsidiary that would constitute a “significant subsidiary” within the meaning of
Article 1 of Regulation S-X promulgated pursuant to the Exchange Act, as such Regulation is in
effect on the date of this Indenture.

          “Special Record Date” means a date fixed by the Trustee for the payment of any Defaulted Interest pursuant to
Section 307.

          “Stated Maturity”, when used with respect to any Security or any installment of interest thereon, means the date
specified in such Security as the fixed date on which the principal of such Security or such
installment of interest is due and payable.

          “Stock Payment” means, with respect to any Person, the payment or declaration of any dividend, either in cash
or in property (except dividends payable in Common Stock or common shares of Capital Stock of such
Person), or the making by such Person of any other distribution, on account of any shares of any
class of its Capital Stock, now or hereafter outstanding, or the redemption, purchase, retirement
or other acquisition or retirement for value by such Person, directly or indirectly, of any shares
of any class of its Capital Stock, now or hereafter outstanding, other than the redemption,
purchase, defeasance or other acquisition or

27

 

retirement for value of any Disqualified Stock at its mandatory redemption date or other maturity
date.

          “subsidiary” means, as to a particular parent entity at any time, any entity of which more than 50% of the
outstanding Voting Stock or other equity interest entitled ordinarily to vote in the election of
the directors or other governing body (however designated) of such entity is at the time
beneficially owned or controlled directly or indirectly by such parent corporation, by one or more
such entities or by such parent corporation and one or more such entities.

          “Subsidiary” means any subsidiary of the Company.

          “Suspended Covenants” has the meaning specified in Section 1016.

          “Suspension Condition” has the meaning specified in Section 1016.

          “Transactions” means the transactions contemplated by (i) the Acquisition, (ii) the Credit Agreement and
(iii) the offering of the Securities.

          “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, and as in force at the date as of which
this instrument was executed, except as provided in Section 905; provided, however, that, in the
event that the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” means,
to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended.

          “Trustee” means the Person named as the “Trustee” in the first paragraph of this Indenture, until a
successor Trustee shall have become such pursuant to the applicable provisions of this Indenture,
and thereafter “Trustee” shall mean such successor Trustee.

          “Unrestricted Subsidiary” means any Subsidiary that is not a Restricted Subsidiary.

          “Voting Stock” means any Capital Stock having voting power under ordinary circumstances to vote in the
election of the directors of a corporation (irrespective of whether or not at the time stock of any
other class or classes shall have or might have voting power by reason of the happening of any
contingency).

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

	 	(1)	 	the sum of the products obtained by multiplying (a) the amount
of each then remaining installment, sinking fund, serial maturity or other
required payments of principal, including payment at final maturity, in respect
thereof, by (b) the number of years (calculated to the nearest one-twelfth)
that shall elapse between such date and the making of such payment; by
	 
	 	(2)	 	the then outstanding principal amount of such Indebtedness.

28

 

          Section 102. Other Definitions.

	 	 	 	 	 
	 	 	Defined
	Term	 	in Section
	“Act”
	 	 	105	 
	“Bankruptcy Law”
	 	 	501	 
	“covenant defeasance”
	 	 	1303	 
	“Custodian”
	 	 	501	 
	“defeasance”
	 	 	1302	 
	“Defaulted Interest”
	 	 	307	 
	“incorporated provision”
	 	 	108	 
	“Restricted Security”
	 	 	205	 
	“Security Register”
	 	 	305	 
	“Security Registrar”
	 	 	305	 
	“successor”
	 	 	801	 
	“U.S. Government Obligations”
	 	 	1304	 

          Section 103. Compliance Certificates and Opinions.

          Upon any application or request by the Company to the Trustee to take any action under any
provision of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate
stating that all conditions precedent, if any, provided for in this Indenture (including any
covenant compliance with which constitutes a condition precedent) relating to the proposed action
have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all
such conditions precedent, if any, have been complied with, except that, in the case of any such
application or request as to which the furnishing of such documents is specifically required by any
provision of this Indenture relating to such particular application or request, no additional
certificate or opinion need be furnished.

          Every certificate or opinion (other than the certificates required by Section 1019) with
respect to compliance with a condition or covenant provided for in this Indenture shall include:

     (a) a statement that each individual signing such certificate or opinion has read such
covenant or condition and the definitions herein relating thereto;

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

     (c) a statement that, in the opinion of each such individual, he has made such
examination or investigation as is necessary to enable him to express an informed opinion as
to whether or not such covenant or condition has been complied with; and

     (d) a statement as to whether, in the opinion of each such individual, such condition
or covenant has been complied with.

29

 

          Section 104. Form of Documents Delivered to Trustee.

          In any case where several matters are required to be certified by, or covered by an opinion
of, any specified Person, it is not necessary that all such matters be certified by, or covered by
the opinion of, only one such Person, or that they be so certified or covered by only one document,
but one such Person may certify or give an opinion with respect to some matters and one or more
other such Persons as to other matters, and any such Person may certify or give an opinion as to
such matters in one or several documents.

          Any certificate or opinion of an officer of the Company may be based, insofar as it relates to
legal matters, upon a certificate or opinion of, or representations by, counsel, unless such
officer knows, or in the exercise of reasonable care should know, that the certificate or opinion
or representations with respect to the matters upon which his certificate or opinion is based are
erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to
factual matters, upon a certificate or opinion of, or representations by, an officer or officers of
the Company stating that the information with respect to such factual matters is in the possession
of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that
the certificate or opinion or representations with respect to such matters are erroneous.

          Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Indenture, they may,
but need not, be consolidated and form one instrument.

          Section 105. Acts of Holders.

          (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such Holders in person or by agent
duly appointed in writing; and, except as herein otherwise expressly provided, such action shall
become effective when such instrument or instruments are delivered to the Trustee and, where it is
hereby expressly required, to the Company. Such instrument or instruments (and the action embodied
therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing
such instrument or instruments. Proof of execution of any such instrument or of a writing
appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to
Trust Indenture Act Section 315) conclusive in favor of the Trustee and the Company, if made in the
manner provided in this Section 105.

          (b) The fact and date of the execution by any Person of any such instrument or writing may be
proved in any reasonable manner that the Trustee deems sufficient.

          (c) The ownership of Securities shall be proved by the Security Register.

          (d) If the Company shall solicit from the Holders any request, demand, authorization,
direction, notice, consent, waiver or other Act, the Company may, at its option, by or pursuant to
a Member Resolution, fix in advance a record date for the determination of such Holders entitled to
give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the
Company shall have no obligation to do so. Notwithstanding Trust Indenture

30

 

Act Section 316(c), any such record date shall be the record date specified in or pursuant to
such Member Resolution, which shall be a date not more than 30 days prior to the first solicitation
of Holders generally in connection therewith and no later than the date such solicitation is
completed.

          If such a record date is fixed, such request, demand, authorization, direction, notice,
consent, waiver or other Act may be given before or after such record date, but only the Holders of
record at the close of business on such record date shall be deemed to be Holders for the purposes
of determining whether Holders of the requisite proportion of Securities then Outstanding have
authorized or agreed or consented to such request, demand, authorization, direction, notice,
consent, waiver or other Act, and for this purpose the Securities then Outstanding shall be
computed as of such record date; provided that no such request, demand, authorization, direction,
notice, consent, waiver or other Act by the Holders on such record date shall be deemed effective
unless it shall become effective pursuant to the provisions of this Indenture not later than six
months after the record date.

          (e) Any request, demand, authorization, direction, notice, consent, waiver or other Act by the
Holder of any Security shall bind every future Holder of the same Security or the Holder of every
Security issued upon the registration of transfer thereof or in exchange therefor or in lieu
thereof, in respect of anything done, suffered or omitted to be done by the Trustee, any Paying
Agent or the Company in reliance thereon, whether or not notation of such action is made upon such
Security.

          Section 106. Notices, Etc. to Trustee and Company.

          Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or
other document provided or permitted by this Indenture to be made upon, given or furnished to, or
filed with,

          (a) the Trustee by any Holder, the agents under the Credit Agreement or the Company shall be
sufficient for every purpose hereunder if made, given, furnished or delivered, in writing (which
may be delivered via electronic mail or facsimile), to or with the Trustee at its Corporate Trust
Office, Attention: Corporate Trust Services; or

          (b) the Company by the Trustee or by any Holder shall be sufficient for every purpose
hereunder (unless otherwise herein expressly provided) if made, given, furnished or delivered in
writing to the Company addressed to BBHI Acquisition LLC, c/o Cablevision Systems Corporation, 1111
Stewart Avenue, Bethpage, New York 11714, Attention: Secretary or at any other address previously
furnished in writing to the Trustee by the Company.

          Section 107. Notice to Holders; Waiver.

          Where this Indenture provides for notice to Holders of any event, such notice shall be
sufficiently given (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to each Holder affected by such event, at his address as it appears in
the Security Register, not later than the latest date, and not earlier than the earliest date,
prescribed for the giving of such notice. In any case where notice to Holders is given by mail,
neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular

31

 

Holder shall affect the sufficiency of such notice with respect to other Holders. Any notice
when mailed to a Holder in the aforesaid manner shall be conclusively deemed to have been received
by such Holder whether or not actually received by such Holder.

          Where this Indenture provides for notice in any manner, such notice may be waived in writing
by the Person entitled to receive such notice, either before or after the event, and such waiver
shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the
Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver.

          In case by reason of the suspension of regular mail service or by reason of any other cause,
it shall be impracticable to mail notice of any event as required by any provision of this
Indenture, then any method of giving such notice as shall be satisfactory to the Trustee shall be
deemed to be a sufficient giving of such notice.

          Section 108. [RESERVED].

          Section 109. Effect of Headings and Table of Contents.

          The Article and Section headings herein and the Table of Contents are for convenience only and
shall not affect the construction hereof.

          Section 110. Successors and Assigns.

          All covenants and agreements in this Indenture by the Company shall bind its respective
successors and assigns, whether so expressed or not.

          Section 111. Separability Clause.

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

          Section 112. Benefits of Indenture.

          Nothing in this Indenture or in the Securities, express or implied, shall give to any Person
(other than the parties hereto and their successors hereunder, any Paying Agent and the Holders)
any benefit or any legal or equitable right, remedy or claim under this Indenture.

          Section 113. Governing Law; Waiver of Jury Trial.

          This Indenture and the Securities shall be governed by and construed in accordance with the
laws of the State of New York, without regard to conflicts of laws principles.

32

 

          EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY.

          Section 114. Legal Holidays.

          In any case where any Interest Payment Date, any date established for payment of Defaulted
Interest pursuant to Section 307, or any Maturity with respect to any Security shall not be a
Business Day, then (notwithstanding any other provision of this Indenture or of the Securities)
payment of interest or principal need not be made on such date, but may be made on the next
succeeding Business Day with the same force and effect as if made on the Interest Payment Date, or
date established for payment of Defaulted Interest pursuant to Section 307, or Maturity, and no
interest shall accrue with respect to such payment for the period from and after such Interest
Payment Date, or date established for payment of Defaulted Interest pursuant to Section 307, or
Maturity, as the case may be, to the next succeeding Business Day.

          Section 115. No Recourse Against Others.

          A director, officer, employee or stockholder, as such, of the Company shall not have any
liability for any obligations of the Company under the Securities or this Indenture or for any
claim based on, in respect of or by reason of such obligations or their creation. Each Holder by
accepting any of the Securities waives and releases all such liability.

          Section 116. U.S.A. Patriot Act.

          The parties hereto acknowledge that in accordance with Section 326 of the Uniting and
Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism
Act of 2001, as amended from time to time (the “USA Patriot Act”), the Trustee, like all financial
institutions and in order to help fight the funding of terrorism and money laundering, is required
to obtain, verify, and record information that identifies each person or legal entity that
establishes a relationship or opens an account with the Trustee. The parties to this Indenture
agree that they shall provide the Trustee with such information as it may request in order for the
Trustee to satisfy the requirements of the USA Patriot Act.

          Section 117. Force Majeure

          In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly,
forces beyond its control, including, without limitation, to the extent beyond its control,
strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances,
nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of
utilities, communications or computer (software and hardware) services; it being understood that
the Trustee shall use reasonable efforts which are consistent with accepted practices in the
banking industry to prevent such actions from occurring and to resume performance as soon as
practicable under the circumstances.

33

 

ARTICLE TWO

SECURITY FORMS

          Section 201. Forms Generally; Incorporation of Form in Indenture.

          The Securities and the Trustee’s certificate of authentication with respect thereto shall be
in substantially the forms set forth in this Article, with such appropriate legends, insertions,
omissions, substitutions and other variations as are required or permitted by this Indenture and
may have such letters, numbers or other marks of identification and such legends or endorsements
placed thereon as may be required to comply with the rules of any securities exchange or as may,
consistently herewith, be determined by the officers executing such Securities, as evidenced by
their execution of the Securities. Any portion of the text of any Security may be set forth on the
reverse thereof, with an appropriate reference thereto on the face of the Security. Each Security
shall be dated the date of its authentication.

          The definitive Securities shall be typewritten, printed, lithographed, engraved or otherwise
produced or produced by any combination of these methods or may be produced in any other manner
permitted by the rules of any securities exchange on which the Securities may be listed, all as
determined by the officers executing such Securities, as evidenced by their execution of such
Securities.

          Section 202. Form of Face of Security.

          [THIS NOTE IS ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR PURPOSES OF SECTION 1271 ET SEQ. OF THE
INTERNAL REVENUE CODE. A HOLDER MAY OBTAIN THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT,
ACCRUAL PERIODS, ORIGINAL ISSUE DATE AND YIELD TO MATURITY FOR SUCH NOTE BY SUBMITTING A REQUEST
FOR SUCH INFORMATION TO THE FOLLOWING ADDRESS: BBHI ACQUISITION LLC, c/o CABLEVISION SYSTEMS
CORPORATION, 1111 STEWART AVENUE, BETHPAGE, NEW YORK 11714, ATTENTION: SECRETARY]*

BBHI ACQUISITION LLC

8.00% Senior Notes due 2018

			
	 	 	 
	No.____
	 	$_________________
	 
	 	CUSIP No. [Reg. S — U62237 AA7]
	 
	 	[144A — 107342 AA5]
	 
	 	ISIN No. [Reg. S — USU62237AA71]
	 
	 	[144A — US107342AA57]

          BBHI Acquisition LLC, a Delaware limited liability company (herein called the “Company”,
which term includes any successor entity under the Indenture hereinafter referred to), for value
received, hereby promises to pay to _________________ or registered assigns the

 

			
	*	 	Include only for Securities issued with
original issue discount.

34

 

principal sum of ______ Dollars on December 15, 2018, at the office or agency of the Company
referred to below, and to pay interest thereon on [     ]**, and semiannually thereafter,
on June 15 and December 15 in each year from the Securities Issue Date or from the most recent
Interest Payment Date to which interest has been paid or duly provided for at the rate of 8.00% per
annum until the principal hereof is paid or duly provided for, and (to the extent lawful) to pay on
demand interest on any overdue interest at the rate borne by the Securities from the date of the
Interest Payment Date on which such overdue interest becomes payable to the date payment of such
interest has been made or duly provided for.

          If any interest has accrued on this Security in respect of any period prior to the issuance of
this Security, such interest shall be payable in respect of such period at the rate or rates borne
by the Predecessor Security surrendered in exchange for this Security from time to time during such
period. The interest so payable, and punctually paid or duly provided for, on any Interest Payment
Date shall, as provided in such Indenture, be paid to the Person in whose name this Security (or
one or more Predecessor Securities) is registered at the close of business on the Regular Record
Date for such interest, which shall be the June 1 or December 1 (whether or not a Business Day), as
the case may be, next preceding such Interest Payment Date. Any such interest not so punctually
paid or duly provided for, and interest on such defaulted interest at the interest rate borne by
this Security, to the extent lawful, shall forthwith cease to be payable to the Holder on such
Regular Record Date, and may be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on a Special Record Date for the
payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to
Holders of Securities not less than 10 days prior to such Special Record Date, or may be paid at
any time in any other lawful manner not inconsistent with the requirements of any securities
exchange on which the Securities may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in the Indenture. Payment of the principal of and interest on
this Security shall be made at the office or agency of the Company maintained for that purpose in
The City of New York, or at such other office or agency of the Company as may be maintained for
such purpose, in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts; provided, however, that payment of interest
may be made at the option of the Company by check mailed to the address of the Person entitled
thereto as such address shall appear on the Security Register.

          Interest on the Securities shall be computed on the basis of a 360-day year of twelve 30-day
months.

          Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at
this place.

          Unless the certificate of authentication hereon has been duly executed by the Trustee referred
to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit
under the Indenture, or be valid or obligatory for any purpose.

 

			
	**	 	In the case of an Initial Security, insert
June 15, 2011. In the case of any Security other than an Initial Security,
insert the relevant Initial Interest Payment Date.

35

 

          IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal.

	 	 	 	 	 	 	 

	 	 	BBHI ACQUISITION LLC,	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 

          Section 203. Form of Reverse of Security.

          This Security is one of a duly authorized issue of securities of the Company designated as its
8.00% Senior Notes due 2018 (herein called the “Securities”), which may be issued under an
indenture (herein called the “Indenture”) dated as of December 14, 2010, between the Company and
U.S. Bank National Association, trustee (herein called the “Trustee”, which term includes any
successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto
reference is hereby made for a statement of the respective rights, limitations of rights, duties,
obligations and immunities thereunder of the Company, the Trustee, the holders of the Senior
Indebtedness and the Holders of the Securities, and of the terms upon which the Securities are, and
are to be, authenticated and delivered. This Security is one of the series designated on the face
hereof, initially limited in aggregate principal amount to $250,000,000; provided, however, that
the Company may from time to time, without notice to or the consent of the Holders of Securities,
create and issue further Securities of this series (the “Additional Securities”) having the same
terms and ranking equally and ratably with the Securities of this series in all respects and with
the same CUSIP number as the Securities of this series, or in all respects except for payment of
interest accruing prior to the issue date of such Additional Securities or except for the first
payment of interest following the issue date of such Additional Securities. Any Additional
Securities shall be consolidated and form a single series with the Securities and shall have the
same terms as to status, redemption and otherwise as the Securities. Any Additional Securities may
be issued pursuant to authorization provided by a Member Resolution, a supplement to the Indenture,
or under an Officers’ Certificate pursuant to the Indenture. No Additional Securities may be
issued if an Event of Default has occurred and is continuing with respect to the Securities of this
series.

          At its option, any time prior to December 15, 2013, the Company may redeem this Security, in
whole or in part, at any time and from time to time at a redemption price equal to the greater of:
(a) 100% of the principal amount of this Security to be redeemed, or (b) as determined by a
Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and
interest thereon (not including any portion of such payments of interest accrued to the Redemption
Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting
of twelve 30-day months) at the Adjusted Treasury Rate plus 50 basis points, plus, in each case,
accrued and unpaid interest to the Redemption Date.

          At any time prior to December 15, 2013, the Company may redeem up to 35% of the aggregate
principal amount of Securities issued under the Indenture (including any Additional Securities), at
its option at any time and from time to time, at a redemption price of 108% of the principal amount
thereof, plus accrued and unpaid interest thereon to the applicable Redemption Date, with the net
cash proceeds of one or more Qualified Equity Offerings;

36

 

provided that: (i) at least 65% of the aggregate principal amount of Securities issued under
this Indenture (including any Additional Securities) remains outstanding immediately after the
occurrence of such redemption (excluding, for purposes of such calculation, Securities held by the
Company or its Subsidiaries) and (ii) the redemption must occur within 90 days of the date of the
closing of such Qualified Equity Offering.

          Except pursuant to the two preceding paragraphs, the Securities will not be redeemable at the
Company’s option prior to December 15, 2013.

          On or after December 15, 2013, the Company may redeem Securities, at its option in whole or in
part at any time and from time to time, at the redemption prices (expressed as percentages of
principal amount) set forth below, plus accrued and unpaid interest thereon, to the applicable
Redemption Date, if redeemed during the twelve month period beginning on December 15 of the years
indicated below:

	 	 	 	 	 
	Year	 	Percentage
	2013
	 	 	106.000	%
	2014
	 	 	104.000	%
	2015
	 	 	102.000	%
	2016 and thereafter
	 	 	100.000	%

          Any redemption of this Security shall be made pursuant to the provisions of Sections 1101
through 1106 of the Indenture.

          If an Event of Default shall occur and be continuing, the principal of all the Securities may
be declared due and payable in the manner and with the effect provided in the Indenture.

          The Indenture contains provisions for defeasance at any time of (a) the entire indebtedness of
the Company on this Security and (b) certain restrictive covenants and the related Defaults and
Events of Default, in each case, upon compliance by the Company with certain conditions set forth
therein, which provisions apply to this Security.

          This Security does not have the benefit of any sinking fund obligations.

          The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders under
the Indenture at any time by the Company and the Trustee with the consent of the Holders of a
majority in aggregate principal amount of the Securities at the time Outstanding. The Indenture
also contains provisions permitting the Holders of specified percentages in aggregate principal
amount of the Securities at the time Outstanding, on behalf of the Holders of all the Securities,
to waive compliance by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences. Any such consent or waiver by or on behalf of
the Holder of this Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration of transfer hereof or in
exchange herefor or in lieu hereof whether or not notation of such consent or waiver is made upon
this Security.

37

 

          No reference herein to the Indenture and no provision of this Security or of the Indenture
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay
the principal of and interest on this Security at the times, place, and rate, and in the coin or
currency, herein prescribed.

          As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Security is registrable on the Security Register of the Company, upon surrender of
this Security for registration of transfer at the office or agency of the Company maintained for
such purpose in The City of New York, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Company and the Security Registrar duly executed by, the
Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities,
of authorized denominations and for the same aggregate principal amount, shall be issued to the
designated transferee or transferees.

          The Securities are issuable only in registered form without coupons in minimum denominations
of $2,000 and any integral multiple of $1,000 in excess thereof. As provided in the Indenture and
subject to certain limitations therein set forth, the Securities are exchangeable for a like
aggregate principal amount of Securities of a different authorized denomination, as requested by
the Holder surrendering the same.

          No service charge shall be made for any registration of transfer or exchange of Securities,
but the Company may require payment of a sum sufficient to pay all documentary, stamp or similar
issue or transfer taxes or other governmental charges payable in connection with any registration
of transfer or exchange.

          Prior to the time of due presentment of this Security for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name
this Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee nor any agent shall be affected by notice to the
contrary.

          This Security shall be governed by and construed in accordance with the laws of the State of
New York, without regard to conflicts of laws principles thereof.

          All terms used in this Security that are defined in the Indenture shall have the meanings
assigned to them in the Indenture.

Certificate of Transfer

          FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers this Security to

 

(Please typewrite or print name and taxpayer identification number)

 

(Please typewrite or print address)

38

 

and hereby irrevocably constitutes and appoints _______________________ his attorney to transfer
the same on the books of the Company, with full power of substitution in the premises.

          In connection with any transfer of all or any portion of the Security evidenced by this
certificate for as long as such Security is a Restricted Security, the undersigned confirms that
such Security is being transferred:

	 	o	 	(a) Pursuant to and in compliance with Rule 144A under the Securities Act of 1933,
as amended (the “Securities Act”);
	 
	 	 	 	or
	 
	 	o	 	(b) Pursuant to offers and sales to non-U.S. Persons that occur outside the United
States in compliance with Rule 903 or 904 of Regulation S under the Securities Act;

          Unless one of the boxes above is checked, the Trustee shall refuse to register all or any
portion of the Security evidenced by this certificate in the name of any person other than the
registered holder thereof (or hereof); provided, however, that the Trustee may, in its sole
discretion, register the transfer of such Security if it has received such certifications, legal
opinions and/or other information as it has reasonably requested to confirm that such transfer is
being made pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act.

Dated:

Signature                                        

NOTE: The signature to this assignment must correspond with the name as written upon the face of
this Security in every particular, without alteration or enlargement, or any change whatever.

TO BE COMPLETED BY PURCHASER IF (a) ABOVE IS CHECKED:

          The undersigned represents and warrants that it is purchasing this Security for its own
account or an account with respect to which it exercises sole investment discretion and that it and
any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the
Securities Act and is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A (including the information specified in Rule 144(d)(4)) or has
determined not to request such information and that it is aware that the transferor is relying upon
the undersigned’s foregoing representations in order to claim the exemption from registration
provided by Rule 144A.

	 	 	 	 	 

	Dated:                                        

	 	 	 	 
	 

	 	 	 	 
	 

	 	To be signed by an executive officer	 	 

39

 

SCHEDULE OF EXCHANGES FOR DEFINITIVE SECURITIES

     The following exchanges of a part of this Security in global form for definitive Securities or
of definitive Securities for a part of this Security in global form have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Principal	 	 	 	 
	 	 	Amount of	 	 	Amount of	 	 	Amount of	 	 	Signature of	 
	 	 	decrease in	 	 	increase in	 	 	this Security	 	 	authorized	 
	 	 	Principal	 	 	Principal	 	 	in global form	 	 	signatory of	 
	 	 	Amount of	 	 	Amount of	 	 	following such	 	 	Trustee or	 
	Date of	 	this Security	 	 	this Security	 	 	decrease (or	 	 	Securities	 
	Exchange	 	in global form	 	 	in global form	 	 	increase)	 	 	Custodian	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

          Section 204. Form of Trustee’s Certificate of Authentication.

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

     This is one of the Securities referred to in the within-mentioned Indenture.

	 	 	 	 	 	 	 

	 	 	U.S. BANK NATIONAL ASSOCIATION,	 	 
	 
	 	     as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	

 

Authorized Signatory
	 	 

Dated:

          Section 205. Form of Legend on Restricted Securities.

          During the period beginning on the Securities Issue Date and ending on the later of the date
occurring one year after such date and the date on which such Security is (a) freely transferable
in accordance with Rule 144 by a person that is not an “affiliate” (as defined in Rule 144) of the
Company where no conditions under Rule 144 are then applicable (other than the holding period
requirement of paragraph (d) of Rule 144 so long as such holding period requirement is satisfied at
such time of determination), (b) does not bear any restrictive legends relating to the Securities
Act and (c) does not bear a restrictive CUSIP number, any such Security issued or owned during the
period set forth above, as the case may be, and any Security issued upon registration of transfer
of, or in exchange for, or in lieu of, such Security shall be deemed a “Restricted Security” and
shall be subject to the restrictions on transfer provided in the legend set forth below; provided,
however, that the term “Restricted Security” shall not include (a) any Security which is issued
upon transfer of, or in exchange for, any Security which is not a Restricted Security or (b) any
Security as to which such restrictions on transfer have been terminated in accordance with Section
314. Any Restricted Security shall bear a legend in substantially the following form:

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          THE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY
INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED,
ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH
TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION AS SET FORTH BELOW. BY ITS
ACQUISITION HEREOF, THE HOLDER (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL
BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”)), OR (B) IT IS NOT A
U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION, (2) AGREES TO OFFER,
SELL, PLEDGE OR OTHERWISE TRANSFER SUCH SECURITY PRIOR TO THE DATE WHICH IS ONE YEAR AFTER
THE DATE OF ORIGINAL ISSUE HEREOF ONLY (A) TO THE COMPANY, (B) PURSUANT TO A REGISTRATION
STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE
SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN
RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL
BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D)
OUTSIDE THE UNITED STATES PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS IN AN OFFSHORE
TRANSACTION PURSUANT TO REGULATION S UNDER THE SECURITIES ACT IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S
AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (E) TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION
SATISFACTORY TO EACH OF THEM.

               Section 206. Form of Legend for Book-Entry Securities.

               Any Global Security authenticated and delivered hereunder shall bear a legend (which would be
in addition to any other legends required in the case of a Restricted Security) in substantially
the following form:

          THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE THEREOF. THIS
SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER
OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN
SUCH DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE.

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     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK 10041) TO THE ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT AND SUCH CERTIFICATE ISSUED IN EXCHANGE FOR
THIS CERTIFICATE IS REGISTERED IN THE NAME OF CEDE & CO., OR SUCH OTHER NAME AS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, SINCE THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

ARTICLE THREE

THE SECURITIES

          Section 301. Title and Terms.

          The aggregate principal amount of Initial Securities that may be authenticated and delivered
under this Indenture is limited to $250,000,000 and Additional Securities is unlimited, except, in
each case, for Securities authenticated and delivered upon registration of transfer of, or in
exchange for, or in lieu of, other Securities pursuant to Section 303, 304, 305, 306 or 906.

          The Initial Securities and the Additional Securities, if any, shall be known and designated as
the “8.00% Senior Notes due 2018” of the Company. Their Stated Maturity shall be December 15,
2018, and they shall bear interest at the rate of 8.00% per annum (except as otherwise provided for
in the form of Security) from the relevant Securities Issue Date, or the most recent Interest
Payment Date to which interest has been paid or duly provided for on a given Security or a Security
surrendered in exchange for such Security, as the case may be, payable on the relevant Initial
Interest Payment Date (as defined below) and semiannually thereafter on June 15 and December 15 of
each year and at said Stated Maturity, until the principal thereof is paid or duly provided for.
The term “Initial Interest Payment Date” means (a) with respect to any Security other than the
Initial Securities, the first June 15 or December 15 occurring after the Securities Issue Date for
such Security and (b) with respect to each Initial Security, June 15, 2011. The Initial Securities
and any Additional Securities issued hereunder shall rank pari passu.

          The principal of and interest on the Securities shall be payable at the office or agency of
the Company maintained for such purpose in The City of New York, or at such other office or agency
of the Company as may be maintained for such purpose; provided, however, that, at the option of the
Company, cash interest may be paid by check mailed to addresses of the Persons entitled thereto as
such addresses shall appear on the Security Register.

          The Securities are subject to redemption at the option of the Company on terms and in the
manner set forth in Sections 1101 through 1107 hereof and the Securities are subject to repurchase
at the option of Holders on terms and in the manner set forth in Section 1108 hereof.

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          At the election of the Company, the entire indebtedness represented by the Securities or
certain of the Company’s obligations and covenants and certain Events of Default thereunder may be
defeased as provided in Article Thirteen.

          The Securities shall be senior unsecured obligations of the Company and shall rank pari passu
in right of payment with all existing and future unsubordinated indebtedness of the Company.

          Section 302. Denominations.

          The Securities shall be issuable only in registered form without coupons and only in minimum
denominations of $2,000 and any integral multiple of $1,000 in excess thereof.

          Section 303. Execution, Authentication, Delivery and Dating.

          The Securities shall be executed on behalf of the Company by any one of the following: its
Chairman, Chief Executive Officer, one of its Vice Chairmen, its President, one of its Vice
Presidents. The signature of any of these officers on the Securities may be manual or facsimile.

          Securities bearing the manual or facsimile signatures of individuals who were at any time the
proper officers of the Company shall bind the Company, notwithstanding that such individuals or any
of them have ceased to hold such offices prior to the authentication and delivery of such
Securities or did not hold such offices at the date of such Securities.

          The Trustee shall (upon Company Order) authenticate and deliver (a) the Initial Securities for
original issue in an aggregate principal amount of up to $250,000,000 and (b) Additional Securities
as set forth below.

          Each Security shall be dated the date of its authentication.

          No Security endorsed thereon shall be entitled to any benefit under this Indenture or be valid
or obligatory for any purpose unless there appears on such Security a certificate of authentication
substantially in the form provided for herein duly executed by the Trustee by manual signature of
one of its duly authorized signatories, and such certificate upon any Security shall be conclusive
evidence, and the only evidence, that such Security has been duly authenticated and delivered
hereunder and is entitled to the benefits of this Indenture.

          In case the Company, pursuant to Article Eight, shall be consolidated or merged with or into
any other Person or shall convey, transfer, lease or otherwise dispose of substantially all of its
properties and assets to any Person, and the successor Person resulting from such consolidation, or
surviving such merger, or into which the Company shall have been merged, or the successor Person
which shall have received a conveyance, transfer, Lease or other disposition as aforesaid, shall
have executed an indenture supplemental hereto with the Trustee pursuant to Article Eight, any of
the Securities authenticated or delivered prior to such consolidation, merger, conveyance,
transfer, Lease or other disposition may, from time to time, at the request of the successor
Person, be exchanged for other Securities executed in the name of the successor Person with such
changes in phraseology and form as may be appropriate, but otherwise in

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substance of like tenor as the Securities surrendered for such exchange and of like principal
amount; and the Trustee, upon written order of the successor Person, shall authenticate and deliver
Securities as specified in such request for the purpose of such exchange. If Securities shall at
any time be authenticated and delivered in any new name of a successor Person pursuant to this
Section 303 in exchange or substitution for or upon registration of transfer of any Securities,
such successor Person, at the option of any Holder but without expense to such Holder, shall
provide for the exchange of all Securities at the time Outstanding held by such Holder for
Securities authenticated and delivered in such new name.

          Except as described below, the Securities shall be deposited with, or on behalf of, the
Depository, and registered in the name of the Depository or the nominee of the Depository in the
form of one or more global note certificates (each a “Rule 144A Global Security”), for credit to
the respective accounts of the beneficial owners of the Securities represented thereby. The Rule
144A Global Securities shall bear the legend set forth in Section 206 and, in the case of
Restricted Securities, the legend set forth in Section 205.

          Securities purchased by persons outside the United States pursuant to sales in accordance with
Regulation S under the Securities Act shall be deposited with, or on behalf of, the Depository, and
registered in the name of the Depository or the nominee of the Depository in the form of one or
more global note certificates (each a “Regulation S Global Security”), for credit to the respective
accounts of the beneficial owners of the Securities represented thereby (or such other accounts as
they may direct). Securities represented by a Regulation S Global Security shall not be
exchangeable for Securities in registered definitive form (each a “Physical Security”) until the
expiration of the “40-day restricted period” within the meaning of Rule 903(c)(3) of Regulation S
under the Securities Act. During this 40-day restricted period, Regulation S Global Securities may
only be held through Euroclear System and Clearstream Banking, S.A., unless transferred to a person
that takes delivery through a Rule 144A Global Security. The Regulation S Global Securities shall
bear the legend set forth in Section 206 and, in the case of Restricted Securities, the legend set
forth in Section 205.

          The Company may, subject to Article Ten of this Indenture and applicable law, issue under this
Indenture Additional Securities therefor; provided, however, that the Company may not issue any
Additional Securities if an Event of Default with respect to any Outstanding Securities shall have
occurred and be continuing at the time of such issuance. All Securities issued under this
Indenture shall be treated as a single class for all purposes under this Indenture.

          Section 304. Temporary Securities.

          Pending the preparation of definitive Securities, the Company may execute, and upon Company
Order the Trustee shall authenticate and deliver, temporary Securities which are typewritten,
printed, lithographed, engraved or otherwise produced or produced by any combination of these
methods, in any authorized denomination, substantially of the tenor of the definitive Securities in
lieu of which they are issued and with such appropriate insertions, omissions, substitutions and
other variations as the officers executing such Securities may determine, as conclusively evidenced
by their execution of such Securities.

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          If temporary Securities are issued, the Company shall cause definitive Securities to be
prepared without unreasonable delay. After the preparation of definitive Securities, the temporary
Securities shall be exchangeable for definitive Securities upon surrender of the temporary
Securities at the office or agency of the Company designated for such purpose pursuant to Section
1002, without charge to the Holder. Upon surrender for cancellation of any one or more temporary
Securities, the Company shall execute and the Trustee shall authenticate and deliver in exchange
therefor a like principal amount of definitive Securities of authorized denominations. Until so
exchanged, the temporary Securities shall in all respects be entitled to the same benefits under
this Indenture as definitive Securities.

          Section 305. Registration, Registration of Transfer and Exchange.

          The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register
(the register maintained in such office and in any other office or agency designated pursuant to
Section 1002 being herein sometimes referred to as the “Security Register”) in which, subject to
such reasonable regulations as it may prescribe, the Company shall provide for the registration of
Securities and of transfers of Securities. The Trustee is hereby initially appointed “Security
Registrar” for the purpose of registering Securities and transfers of Securities as herein
provided. Such Security Register shall distinguish between Initial Securities and Additional
Securities.

          Except as otherwise described in this Article Three, upon surrender for registration of
transfer of any Security at the office or agency of the Company designated pursuant to Section 1002
for such purpose, the Company shall execute, and the Trustee shall authenticate and deliver, in the
name of the designated transferee or transferees, one or more new Securities of any authorized
denomination or denominations and of a like aggregate principal amount.

          At the option of the Holder, Securities may be exchanged for other Securities of any
authorized denomination or denominations and of a like aggregate principal amount upon surrender of
the Securities to be exchanged at such office or agency. Whenever any Securities are so
surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and
deliver, the Securities which the Holder making the exchange is entitled to receive.

          All Securities issued upon any registration of transfer or exchange of Securities shall be the
valid obligations of the Company, evidencing the same debt, and (subject to the provisions in the
Initial Securities regarding the payment of additional interest) entitled to the same benefits
under this Indenture, as the Securities surrendered upon such registration of transfer or exchange.

          Every Security presented or surrendered for registration of transfer, or for exchange, shall
(if so required by the Company or the Security Registrar) be duly endorsed, or be accompanied by a
written instrument of transfer in form satisfactory to the Company and the Security Registrar, duly
executed by the Holder thereof or his attorney duly authorized in writing.

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          Every Restricted Security shall be subject to, and no transfer shall be made other than in
accordance with, the restrictions on transfer provided in the legend set forth on the form of the
face of each Restricted Security and the restrictions set forth in this Article Three, and the
Holder of each Restricted Security, by such Holder’s acceptance thereof, agrees to be bound by such
restrictions on transfer.

          The Security Registrar shall notify the Company of any proposed transfer of a Restricted
Security to any Person.

          No service charge shall be made for any registration of transfer or exchange of Securities,
but the Company may require payment of a sum sufficient to pay all documentary, stamp or similar
issue or transfer taxes or other governmental charges that may be imposed in connection with any
registration of transfer or exchange of Securities, other than exchanges pursuant to Section 303,
304 or 906 not involving any transfer.

          The Company shall not be required to issue, register the transfer of or exchange any Security
during a period beginning at the opening of business 15 days before an Interest Payment Date and
ending on the close of business on such Interest Payment Date.

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

          Section 306. Mutilated, Destroyed, Lost and Stolen Securities.

          If (a) any mutilated Security is surrendered to the Trustee, or (b) the Company and the
Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Security,
and there is delivered to the Company and the Trustee such security or indemnity satisfactory to
them to save each of them and any agent of them harmless, then, in the absence of notice to the
Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company
shall execute and upon Company Order the Trustee shall authenticate and deliver, in exchange for
any such mutilated Security or in lieu of any such destroyed, lost or stolen Security, a
replacement Security of like tenor and principal amount, and bearing a number not contemporaneously
outstanding.

          In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a replacement
Security, pay such Security.

          Upon the issuance of any replacement Securities under this Section 306, the Company may
require the payment of a sum sufficient to pay all documentary, stamp or similar issue or transfer
taxes or other governmental charges that may be imposed in relation thereto and any other expenses
(including the fees and expenses of the Trustee) connected therewith.

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          Every replacement Security issued pursuant to this Section 306 in lieu of any destroyed, lost
or stolen Security shall constitute a contractual obligation of the Company, whether or not the
destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be
entitled to all benefits of this Indenture equally and proportionately with any and all other
Securities duly issued hereunder.

          The provisions of this Section 306 are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost
or stolen Securities.

          Section 307. Payment of Interest; Interest Rights Preserved.

          Interest on any Security which is payable, and is punctually paid or duly provided for, on any
Interest Payment Date shall be paid to the Person in whose name that Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such
interest.

          Any interest on any Security which is payable, but is not punctually paid or duly provided
for, on any Interest Payment Date and interest on such defaulted interest at the interest rate
borne by the Securities, to the extent lawful (such defaulted interest and interest thereon herein
collectively called “Defaulted Interest”), shall forthwith cease to be payable to the Holder on the
relevant Regular Record Date by virtue of having been such Holder; and such Defaulted Interest may
be paid by the Company, at its election in each case, as provided in Subsection (a) or (b) below:

     (a) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities (or their respective Predecessor Securities) are registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest,
which shall be fixed in the following manner. The Company shall notify the Trustee in
writing of the amount of Defaulted Interest proposed to be paid on each Security and the
date of the proposed payment, and at the same time the Company shall deposit with the
Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of
such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such
deposit prior to the date of the proposed payment, such money when deposited to be held in
trust for the benefit of the Persons entitled to such Defaulted Interest as in this
Subsection provided. Thereupon the Trustee shall fix a Special Record Date for the payment
of such Defaulted Interest that shall be not more than 15 days and not less than 10 days
prior to the date of the proposed payment and not less than 10 days after the receipt by the
Trustee of the notice of the proposed payment. The Trustee shall promptly notify the
Company of such Special Record Date. In the name and at the expense of the Company, the
Trustee shall cause notice of the proposed payment of such Defaulted Interest and the
Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at
his address as it appears in the Security Register, not less than 10 days prior to such
Special Record Date. Notice of the proposed payment of such Defaulted Interest and the
Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to
the Persons in whose names the Securities (or their respective Predecessor Securities) are
registered at the close of business on such

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Special Record Date and shall no longer be payable pursuant to the following Subsection
(b).

     (b) The Company may make payment of any Defaulted Interest in any other lawful manner
not inconsistent with the requirements of any securities exchange on which the Securities
may be listed, and upon such notice as may be required by such exchange, if, after notice
given by the Company to the Trustee of the proposed payment pursuant to this Subsection,
such payment shall be deemed practicable by the Trustee.

          Subject to the foregoing provisions of this Section 307, each Security delivered under this
Indenture upon registration of transfer of or in exchange for or in lieu of any other Security
shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such
other Security.

          Section 308. Persons Deemed Owners.

          Prior to the time of due presentment for registration of transfer, the Company, the Trustee
and any agent of the Company or the Trustee may treat the Person in whose name any Security is
registered as the owner of such Security for the purpose of receiving payment of principal of and
(subject to Section 307) interest on such Security and for all other purposes whatsoever, whether
or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company
or the Trustee shall be affected by notice to the contrary.

          Section 309. Cancellation.

          All Securities surrendered for payment, registration of transfer or exchange shall, if
surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly
canceled by it. The Company may at any time deliver to the Trustee for cancellation any Securities
previously authenticated and delivered hereunder which the Company may have acquired in any manner
whatsoever, and all Securities so delivered shall be promptly canceled by the Trustee. No
Securities shall be authenticated in lieu of or in exchange for any Securities canceled as provided
in this Section 309, except as expressly permitted by this Indenture. All canceled Securities held
by the Trustee shall be disposed of by the Trustee in accordance with its customary procedures.

          Section 310. Computation of Interest.

          Interest on the Securities shall be computed on the basis of a 360-day year of twelve 30-day
months.

          Section 311. [RESERVED].

          Section 312. ISIN and CUSIP Numbers.

          The Company in issuing the Securities may use “ISIN” and “CUSIP” numbers (if then generally in
use) in addition to serial numbers, and, if so, the Trustee shall use such “ISIN” and “CUSIP”
numbers in addition to serial numbers in notices of repurchase as a convenience to Holders;
provided that any such notice may state that no representation is made as to the

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correctness of such numbers either as printed on the Securities or as contained in any notice
of a repurchase and that reliance may be placed only on the serial or other identification numbers
printed on the Securities, and any such repurchase shall not be affected by any defect in or
omission of such “ISIN” or “CUSIP” numbers. The Company shall promptly notify the Trustee in
writing of any change in the “ISIN” or “CUSIP” numbers.

          Section 313. Book-Entry Provisions for Global Securities.

          (a) The Global Securities initially shall (i) be registered in the name of the Depository or
the nominee of such Depository, (ii) be delivered to the Trustee as custodian for such Depository
and (iii) bear legends as set forth in Section 206 and, in the case of Restricted Securities in the
form of Global Securities, Section 205.

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

          (b) Transfers of Global Securities shall be limited to transfers in whole, but not in part, to
the Depository, its successors or their respective nominees. Interests of beneficial owners in a
Rule 144A Global Security may be transferred or exchanged for interests in a Regulation S Global
Security, and interests of beneficial owners in a Regulation S Global Security may be transferred
or exchanged for interests in a Rule 144A Global Security, in each case in accordance with the
rules and procedures of the Depository and the provisions of Section 314. Interests of beneficial
owners in the Global Securities may be transferred or exchanged for Physical Securities in
accordance with the rules and procedures of the Depository and the provisions of Section 314.

          In addition, Physical Securities shall be transferred to all beneficial owners in exchange for
their beneficial interests in a Global Security if (i) the Depository (x) notifies the Company that
it is unwilling or unable to continue as a depository for such Global Security or (y) if at any
time the Depository ceases to be a clearing agency registered under the Exchange Act and, in either
case, a successor depository is not appointed by the Company within 90 days, (ii) there shall have
occurred and be continuing an Event of Default with respect to the Securities represented by such
Global Security and the Trustee has received a written request from the Depository or (iii) the
Company at any time notifies the Trustee, in writing, that it elects not to have Securities
represented by a Global Security.

          Except as provided above, any Security authenticated and delivered upon registration of
transfer of, or in exchange for, or in lieu of, any Global Security, whether pursuant to this
Section 313, Section 304, 305, 306 or 906 or otherwise, shall also be a Global Security and bear
the legend specified in Section 206.

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          (c) In connection with any transfer or exchange of a portion of the beneficial interest in any
Global Security to beneficial owners pursuant to paragraph (b), the Security Registrar shall (if
one or more Physical Securities are to be issued) reflect on its books and records the date and a
decrease in the principal amount of the Global Security in an amount equal to the principal amount
of the beneficial interest in the Global Security to be transferred, and the Company shall execute,
and the Trustee shall authenticate and deliver, one or more Physical Securities of like tenor and
principal amount of authorized denominations.

          (d) In connection with the transfer of Global Securities as an entirety to beneficial owners
pursuant to paragraph (b), the Global Securities shall be deemed to be surrendered to the Trustee
for cancellation, and the Company shall execute, and the Trustee shall authenticate and deliver, to
each beneficial owner identified by the Depository in exchange for its beneficial interest in the
Global Securities, an equal aggregate principal amount of Physical Securities of like tenor of
authorized denominations.

          (e) Any Physical Security delivered in exchange for an interest in a Global Security pursuant
to paragraph (b) or (c) of this Section 313 shall, except as otherwise provided by clause (i)(x) of
paragraph (a) and by paragraph (e) of Section 314, bear the legend set forth in Section 205.

          (f) The Holder of any Global Security may grant proxies and otherwise authorize any person,
including Agent Members and persons that may hold interests through Agent Members, to take any
action that a Holder is entitled to take under this Indenture or the Securities.

          Section 314. Special Transfer Provisions.

          (a) Transfers to Non-U.S. Persons. The following provisions shall apply with respect
to the registration of any proposed transfer of a Restricted Security to any non-U.S. person:

     (i) the Security Registrar shall register the transfer of any Restricted Security if
(x) the requested transfer is not prior to the later of the date which is one year (or such
other period as may be prescribed by Rule 144 under the Securities Act or any successor
provision thereunder) after the later of the original issue date of such Security (or of any
Predecessor Security) or the date on which such Security is (a) freely transferable in
accordance with Rule 144 by a person that is not an “affiliate” (as defined in Rule 144) of
the Company where no conditions under Rule 144 are then applicable (other than the holding
period requirement of paragraph (d) of Rule 144 so long as such holding period requirement
is satisfied at such time of determination), (b) does not bear any restrictive legends
relating to the Securities Act and (c) does not bear a restrictive CUSIP number or (y) the
proposed transferee has checked the box provided for on the form of Security stating, and
has provided to the Security Registrar such certifications, opinions and other information
as the Security Registrar may (and, if so directed by the Company, shall) require, stating
that such Security is being transferred pursuant to offers and sales to non-U.S. persons
that occur outside the United States within the meaning of Regulation S under the Securities
Act; and

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     (ii) the Security Registrar shall register the transfer of any Restricted Security if
the proposed transferor is an Agent Member holding a beneficial interest in a Rule 144A
Global Security, upon receipt by the Security Registrar of (x) the certificate stating that
such Security is being transferred pursuant to offers and sales to non-U.S. Persons that
occur outside the United States in compliance with Rule 903 or 904 of Regulation S under the
Securities Act and (y) instructions given in accordance with the Depository’s and the
Security Registrar’s procedures;

whereupon the Security Registrar shall reflect on its books and records the date of such transfer
and (A) (if the transfer involves a transfer of a beneficial interest in a Rule 144A Global
Security) a decrease in the principal amount of such Rule 144A Global Security in an amount equal
to the principal amount to be transferred and (B) an increase in the principal amount of a
Regulation S Global Security in an amount equal to the principal amount to be transferred.

          (b) Transfers to QIBs. The following provisions shall apply with respect to the
registration of any proposed transfer of a Restricted Security to a person purporting to be a QIB
(excluding transfers to non-U.S. persons):

     (i) the Security Registrar shall register the transfer of any Restricted Security if
such transfer is being made by a proposed transferor who has checked the box provided for on
the form of Security stating, or who has otherwise advised the Company and the Security
Registrar in writing, that the transfer has been made in compliance with the exemption from
registration under the Securities Act provided under Rule 144A to a transferee who has
signed the certification provided for on the form of Security stating, or has otherwise
advised the Company and the Security Registrar in writing, that such transferee represents
and warrants that it is purchasing the Security for its own account or an account with
respect to which it exercises sole investment discretion and that each of it and any such
account is a QIB within the meaning of Rule 144A and is aware that the sale to it is being
made in reliance on Rule 144A and acknowledges that it has received such information
regarding the Company as it has requested pursuant to Rule 144A or has determined not to
request such information and that it is aware that the transferor is relying upon the
foregoing representations in order to claim the exemption from registration provided by Rule
144A; and

     (ii) the Security Registrar shall register the transfer of any Restricted Security if
the proposed transferee is an Agent Member, and the Securities to be transferred consist of
Physical Securities which after transfer are to be evidenced by an interest in the Rule 144A
Global Security, upon receipt by the Security Registrar of instructions given in accordance
with the Depository’s and the Security Registrar’s procedures, the Security Registrar shall
reflect on the Security Register the date and an increase in the principal amount of the
Rule 144A Global Security in an amount equal to the principal amount of the Physical
Securities to be transferred, and the Trustee shall cancel the Physical Securities so
transferred.

          (c) Transfers during the 40-day Restricted Period. The following provisions shall
apply with respect to the exchange of beneficial interests in the Regulations S Global

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Securities for beneficial interests in the Rule 144A Global Securities prior to the expiration
of the 40-day restricted period:

     (i) the requested transfer is not prior to the later of (a) the date which is one year
(or such other period as may be prescribed by Rule 144 under the Securities Act or any
successor provision thereunder) after the later of the original issue date of such Security
(or of any Predecessor Security) and (b) the date on which such Security is (I) freely
transferable in accordance with Rule 144 by a person that is not an “affiliate” (as defined
in Rule 144) of the Company where no conditions under Rule 144 are then applicable (other
than the holding period requirement of paragraph (d) of Rule 144 so long as such holding
period requirement is satisfied at such time of determination), (II) does not bear any
restrictive legends relating to the Securities Act and (III) does not bear a restrictive
CUSIP number; and

     (ii) the transferor delivers to the Security Registrar a written certificate that the
Securities are being transferred to a Person (a) who the transferor reasonable believes to
be a QIB, (b) who represents and warrants that it is purchasing the Security for its own
account or an account with respect to which it exercises sole investment discretion and that
it and any such account is a QIB within the meaning of Rule 144A under the Securities Act
and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges
that it has received such information regarding the Company as the undersigned has requested
pursuant to Rule 144A (including the information specified in Rule 144(d)(4)) or has
determined not to request such information and that it is aware that the transferor is
relying upon the undersigned’s foregoing representations in order to claim the exemption
from registration provided by Rule 144A and (c) in accordance with all applicable securities
laws of the states of the United States and other jurisdictions.

          (d) Other Transfers. If a Holder proposes to transfer a Security pursuant to any
exemption from the registration requirements of the Securities Act other than as provided for by
Sections 314(a) and 314(b), the Security Registrar shall only register such transfer or exchange if
such transferor delivers to the Security Registrar and the Trustee an Opinion of Counsel
satisfactory to the Company and the Security Registrar that such transfer is in compliance with the
Securities Act and the terms of this Indenture; provided that the Company may, based upon the
opinion of its counsel, instruct the Security Registrar by a Company Order not to register such
transfer in any case where the proposed transferee is not a QIB or a non-U.S. person.

          (e) Private Placement Legend. Upon the registration of transfer, exchange or
replacement of Restricted Securities, the Security Registrar shall deliver only Securities that
bear the legend set forth in Section 205 unless the circumstances contemplated by clause (a)(1)(x)
of this Section 314 exist. By its acceptance of any Security bearing the legend set forth in
Section 205, each Holder of such a Security acknowledges the restrictions on transfer of such
Security set forth in this Indenture and in such legend and agrees that it shall transfer such
Security only as provided in this Indenture.

          The Security Registrar shall retain copies of all letters, notices and other written
communications received pursuant to Section 313 or this Section 314 for a period of two years,

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after which time such letters, notices and other written communications shall at the written
request of the Company be delivered to the Company. The Company shall have the right to inspect
and make copies of all such letters, notices or other written communications at any reasonable time
upon the giving of reasonable prior written notice to the Security Registrar.

          (f) Termination of Restrictions. The restrictions imposed by this Section 314 upon
the transferability of any particular Restricted Security shall cease and terminate (i) on the
later of the date occurring one year after the Securities Issue Date with respect to such
Restricted Security (or any Predecessor Security of such Restricted Security) and the date on which
such Security is (a) freely transferable in accordance with Rule 144 by a person that is not an
“affiliate” (as defined in Rule 144) of the Company where no conditions under Rule 144 are then
applicable (other than the holding period requirement of paragraph (d) of Rule 144 so long as such
holding period requirement is satisfied at such time of determination), (b) does not bear any
restrictive legends relating to the Securities Act and (c) does not bear a restrictive CUSIP number
or (ii) (if earlier) if and when such Restricted Security has been sold pursuant to an effective
registration statement under the Securities Act. Any Restricted Security as to which such
restrictions on transfer shall have expired in accordance with their terms or shall have terminated
may, upon surrender of such Restricted Security for exchange to the Trustee or any transfer agent
in accordance with the provisions of Section 305, be exchanged for a new Initial Security or any
Additional Security, as the case may be, of like tenor and aggregate principal amount, which shall
not bear the restrictive legend required by Section 205.

ARTICLE FOUR

SATISFACTION AND DISCHARGE

          Section 401. Satisfaction and Discharge of Indenture.

          This Indenture shall, upon Company Request, cease to be of further effect (except as to
surviving rights of registration of transfer or exchange of Securities herein expressly provided
for) and the Trustee, on demand of and at the expense of the Company, shall execute proper
instruments acknowledging satisfaction and discharge of this Indenture, when

          (a) either

     (i) all Securities theretofore authenticated and delivered (other than (A)
Securities which have been destroyed, lost or stolen and which have been replaced or
paid as provided in Section 306 and (B) Securities for whose payment money has
theretofore been deposited in trust or segregated and held in trust by the Company
and thereafter repaid to the Company or discharged from such trust, as provided in
Section 1003) have been delivered to the Trustee for cancellation; or

     (ii) all such Securities not theretofore delivered to the Trustee for
cancellation

     (A) have become due and payable, or

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     (B) shall become due and payable within one year,

and the Company, in the case of subclauses (A) or (B) above, has irrevocably
deposited or caused to be deposited with the Trustee as trust funds in trust for the
purpose an amount sufficient to pay and discharge the entire indebtedness on such
Securities not theretofore delivered to the Trustee for cancellation, for principal
and interest to the date of such deposit (in the case of Securities which have
become due and payable) or to the Stated Maturity;

          (b) the Company has paid or caused to be paid all other sums payable hereunder by the
Company; and

          (c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel each stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of this Indenture have been complied with.

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to
the Trustee under Section 606 and, if money shall have been deposited with the Trustee pursuant to
subclause (ii) of Subsection (a) of this Section 401, the obligations of the Trustee under Section
402 and the last paragraph of Section 1003 shall survive such satisfaction and discharge.

          Section 402. Application of Trust Money.

          Subject to the provisions of the last paragraph of Section 1003, all money deposited with the
Trustee pursuant to Section 401 shall be held in trust and applied by it, in accordance with the
provisions of the Securities and this Indenture, to the payment, either directly or through any
Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the
Persons entitled thereto, of the principal and interest for whose payment such money has been
deposited with the Trustee.

ARTICLE FIVE

REMEDIES

          Section 501. Events of Default.

          An “Event of Default” occurs if:

     (a) the Company defaults in the payment of interest on any Security when the same
becomes due and payable and such default continues for a period of 30 days;

     (b) the Company defaults in the payment of the principal of any Security when the same
becomes due and payable at maturity, upon acceleration or otherwise;

     (c) the Company or any Restricted Subsidiary fails to comply with any of its other
agreements or covenants in, or provisions of, the Securities or this Indenture, and the
Default continues for the period and after the notice, if any, specified below;

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     (d) a default occurs under any mortgage, indenture or instrument under which there may
be issued or by which there may be secured or evidenced any Indebtedness for money borrowed
by the Company or one of its Restricted Subsidiaries (or the payment of which is Guaranteed
by the Company or one of its Restricted Subsidiaries), whether such Indebtedness or
guarantee now exists or shall be created hereafter (but excluding any Indebtedness for the
deferred purchase price of property or services owed to the Person providing such property
or services as to which the Company or such Restricted Subsidiary is contesting its
obligation to pay the same in good faith and by proper proceedings and for which the Company
or such Restricted Subsidiary has established appropriate reserves), and (i) either (A) such
event of default results from the failure to pay any such Indebtedness at final maturity or
(B) as a result of such event of default the maturity of such Indebtedness has been
accelerated prior to its expressed maturity and (ii) the principal amount of such
Indebtedness equals $25.0 million or more or, together with the principal amount of any such
Indebtedness in default for failure to pay principal at maturity or the maturity of which
has been so accelerated, aggregates $25.0 million or more;

     (e) a final judgment or final judgments for the payment of money are entered by a court
or courts of competent jurisdiction against the Company or any Restricted Subsidiary and
either (i) an enforcement proceeding shall have been commenced by any creditor upon such
judgment or (ii) such judgment remains undischarged and unbonded for a period (during which
execution shall not be effectively stayed) of 60 days, provided that the aggregate of all
such judgments exceeds $25.0 million;

     (f) except as permitted by this Indenture, the Note Guarantee of any Subsidiary that is
not an Insignificant Subsidiary shall be held in any judicial proceeding to be unenforceable
or invalid or shall cease for any reason to be in full force and effect or any such
Guarantor, or any Person acting on behalf of any such Guarantor, shall deny or disaffirm in
writing its obligations under its Note Guarantee;

     (g) the Company, any Guarantor that is not an Insignificant Subsidiary or any
Significant Subsidiary (or any Restricted Subsidiaries that together would constitute a
Significant Subsidiary) pursuant to or within the meaning of any Bankruptcy Law:

     (i) commences a voluntary case or proceeding,

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

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

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

     (v) admits in writing that it generally is unable to pay its debts as the same
become due; or

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

     (i) is for relief against the Company, any Guarantor that is not an
Insignificant Subsidiary or any Significant Subsidiary (or any Restricted
Subsidiaries that together would constitute a Significant Subsidiary), in an
involuntary case or proceeding,

     (ii) appoints a Custodian of the Company, any Guarantor that is not an
Insignificant Subsidiary or any Significant Subsidiary (or any Restricted
Subsidiaries that together would constitute a Significant Subsidiary) or for all or
substantially all of the property of the Company, any Guarantor that is not an
Insignificant Subsidiary or any Significant Subsidiary (or any Restricted
Subsidiaries that together would constitute a Significant Subsidiary), or

     (iii) orders the liquidation of the Company, any Guarantor that is not an
Insignificant Subsidiary or any Significant Subsidiary (or any Restricted
Subsidiaries that together would constitute a Significant Subsidiary);

     and in each case the order or decree remains unstayed and in effect for 60 days.

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

          A Default under Section 501(c) is not an Event of Default until the Trustee notifies the
Company in writing, or the Holders of at least 25% in principal amount of the Securities then
Outstanding notify the Company and the Trustee in writing, of the Default, and the Company does not
cure the Default within 60 days (30 days in the case of a Default under Section 801, 1003, 1014 or
1015) after receipt of the notice. The notice must specify the Default, demand that it be remedied
and state that the notice is a “Notice of Default.” Such notice to the Company shall be given by
the Trustee if so requested in writing by the Holders of 25% of the principal amount of the
Securities then Outstanding.

          Section 502. Acceleration of Maturity; Rescission.

          If an Event of Default (other than an Event of Default specified in Section 501(g)) occurs and
is continuing, the Trustee or the Holders of at least 25% of the principal amount of the Initial
Securities and any Additional Securities then Outstanding, voting together as a single class, by
written notice to the Company and the agents, if any, under the Credit Agreement (and to the
Trustee if such notice is given by the Holders), may, and the Trustee at the request of such
Holders shall, declare all unpaid principal of and accrued interest on all the Securities to be due
and payable, as specified below. Upon a declaration of acceleration, such principal and accrued
interest shall be due and payable 10 days after receipt by the Company of such written notice given
hereunder. If an Event of Default specified in Section 501(g) with respect to the Company occurs,
the amounts described above shall ipso facto become and be immediately due and payable without any
declaration or other act on the part of the Trustee or any Holder. Upon

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payment of such principal and interest, all of the Company’s obligations under the Securities
and this Indenture, other than obligations under Section 606, shall terminate.

          The Holders of at least a majority in principal amount of the Securities then Outstanding,
voting together as a single class, by written notice to the Trustee, may rescind an acceleration
and its consequences if (i) all existing Events of Default, other than the non-payment of principal
of or interest on the Securities which have become due solely because of the acceleration, have
been cured or waived and (ii) the rescission would not conflict with any judgment or decree of a
court of competent jurisdiction.

          Notwithstanding the preceding paragraph, in the event of a declaration of acceleration in
respect of the Securities because an Event of Default specified in Section 501(d) shall have
occurred and be continuing, such declaration of acceleration shall be automatically annulled if the
Indebtedness that is the subject of such Event of Default has been discharged or the holders
thereof have rescinded their declaration of acceleration in respect of such Indebtedness, and
written notice of such discharge or rescission, as the case may be, shall have been given to the
Trustee by the Company and countersigned by the holders of such Indebtedness or a trustee,
fiduciary or agent for such holders, within 30 days after such declaration of acceleration in
respect of the Securities, and no other Event of Default has occurred during such 30-day period
which has not been cured or waived during such period.

          Notices by the Trustee to the agents under the Credit Agreement provided for herein shall be
delivered or mailed to Citibank, N.A., 1615 Brett Road, OPS III, New Castle, DE 19720, Attention
of: Citibank Loans Agency; and to any other person who hereafter becomes an agent under the Credit
Agreement, provided the Trustee has been notified by the Company or the agents under the Credit
Agreement of the names and mailing addresses of such persons.

          Section 503. Collection of Indebtedness and Suits for Enforcement by Trustee.

          The Company covenants that if

     (a) default is made in the payment of any interest on any Security when such interest
becomes due and payable and such default continues for a period of 30 days, or

     (b) default is made in the payment of the principal of any Security at the Maturity
thereof,

the Company shall, upon demand of the Trustee, pay to it, for the benefit of the Holders of such
Securities, the whole amount then due and payable on such Securities for principal and interest,
with interest upon the overdue principal and, to the extent that payment of such interest shall be
legally enforceable, upon overdue installments of interest, at the rate borne by the Securities;
and, in addition thereto, such further amount as shall be sufficient to cover the costs and
expenses of collection, including the compensation, reasonable expenses, disbursements and advances
of the Trustee, its agents and counsel.

          If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own
name and as trustee of an express trust, may institute a judicial proceeding for

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the collection of the sums so due and unpaid and may prosecute such proceeding to judgment or
final decree, and may enforce the same against the Company or any other obligor upon the Securities
and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the
property of the Company or any other obligor upon the Securities, wherever situated.

          If an Event of Default occurs and is continuing, the Trustee may proceed to protect and
enforce its rights and the rights of the Holders under this Indenture by such appropriate private
or judicial proceedings necessary to protect and enforce such rights.

          Section 504. Trustee 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 the
Company or any other obligor upon the Securities or the property of the Company or of such other
obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities
shall then be due and payable as therein expressed or by declaration or otherwise and irrespective
of whether the Trustee shall have made any demand on the Company for the payment of overdue
principal or interest) shall be entitled and empowered, by intervention in such proceeding or
otherwise,

     (a) to file and prove a claim for the whole amount of principal and interest owing and
unpaid in respect of the Securities and to file such other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for
the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel) and of the Holders allowed in such judicial proceeding, and

     (b) to collect and receive any moneys or other property payable or deliverable on any
such claims and to distribute the same; and any custodian, receiver, assignee, trustee,
liquidator, sequestrator or similar official in any such judicial proceeding is hereby
authorized by each Holder to make such payments to the Trustee and, in the event that the
Trustee shall consent to the making of such payments directly to the Holders, to pay the
Trustee any amount due it for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
this Indenture.

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

          Section 505. Trustee May Enforce Claims Without Possession of Securities.

          All rights of action and claims under this Indenture or the Securities may be prosecuted and
enforced by the Trustee without the possession of any of the Securities or the production thereof
in any proceeding relating thereto, and any such proceeding instituted by the

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Trustee shall be brought in its own name and as trustee of an express trust, and any recovery
of judgment shall, after provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of
the Holders of the Securities in respect of which such judgment has been recovered.

          Section 506. Application of Money Collected.

          Any money collected by the Trustee pursuant to this Article shall be applied in the following
order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on
account of principal or interest, upon presentation of the Securities and the notation thereon of
the payment if only partially paid and upon surrender thereof if fully paid:

     FIRST: To the payment of all amounts due the Trustee under this Indenture;

     SECOND: To the payment of the amounts then due and unpaid upon the Securities for
principal and interest, in respect of which or for the benefit of which such money has been
collected, ratably, without preference or priority of any kind, according to the amounts due
and payable on such Securities for principal and interest; and

     THIRD: The balance, if any, to the Company.

          Section 507. Limitation on Suits.

          No Holder of any Securities shall have any right to institute any proceeding, judicial or
otherwise, with respect to this Indenture or the Securities, or for the appointment of a receiver
or trustee, or for any other remedy hereunder, unless

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

     (b) the Holders of not less than 25% in principal amount of the Securities then
Outstanding, voting together as a single class, shall have made written request to the
Trustee to institute proceedings in respect of such Event of Default in its own name as
Trustee hereunder;

     (c) such Holder or Holders have offered to the Trustee indemnity reasonably
satisfactory to it against the costs, expenses and liabilities to be incurred in compliance
with such request;

     (d) the Trustee for 60 days after its receipt of such notice, request and offer of
indemnity has failed to institute any such proceeding; and

     (e) no direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of a majority in principal amount of the
Outstanding Securities;

it being understood and intended that no one or more Holders shall have any right in any manner
whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or

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prejudice the rights of any other Holders, or to obtain or to seek to obtain priority or preference
over any other Holders or to enforce any right under this Indenture except in the manner provided
in this Indenture and for the equal and ratable benefit of all the Holders (it being understood
that the Trustee does not have an affirmative duty to ascertain whether or not such actions or
forbearances are unduly prejudicial to such Holders).

          Section 508. Unconditional Right of Holders to Receive Principal and Interest.

          Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment of the principal of and (subject
to Section 307) interest on such Security on the respective due dates expressed in such Security
and to institute suit for the enforcement of any such payment, and such rights shall not be
impaired without the consent of such Holder.

          Section 509. Restoration of Rights and Remedies.

          If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy
under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has
been determined adversely to the Trustee or to such Holder, then and in every such case the
Company, the Trustee and the Holders shall, subject to any determination in such proceeding, be
restored severally and respectively to their former positions hereunder, and thereafter all rights
and remedies of the Trustee and the Holders shall continue as though no such proceeding had been
instituted.

          Section 510. Rights and Remedies Cumulative.

          Except as provided in Section 306, no right or remedy herein conferred upon or reserved to the
Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right
and remedy shall, to the extent permitted by law, be cumulative and in addition to every other
right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.
The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the
concurrent assertion or employment of any other appropriate right or remedy.

          Section 511. Delay or Omission Not Waiver.

          No delay or omission of the Trustee or of any Holder of any Security to exercise any right or
remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a
waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by
this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.

          Section 512. Control by Holders.

          The Holders of a majority in principal amount of the Securities then Outstanding, voting
together as a single class, shall have the right to direct the time, method and place of

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conducting any proceeding for any remedy available to the Trustee, or exercising any trust or
power conferred on the Trustee, provided that

     (a) such direction shall not be in conflict with any rule of law or with this Indenture
or expose the Trustee to personal liability, and

     (b) subject to the provisions of Trust Indenture Act Section 315, the Trustee may take
any other action deemed proper by the Trustee that is not inconsistent with such direction.

          Section 513. Waiver of Past Defaults.

          The Holders of a majority in principal amount of the Securities then Outstanding, voting
together as a single class, may on behalf of the Holders of all the Securities waive any past
Default or Event of Default hereunder and its consequences, except a Default or Event of Default

     (a) in the payment of the principal of or interest on any Security, or

     (b) in respect of a covenant or provision hereof which under Article Nine cannot be
modified or amended without the consent of the Holder of each Outstanding Security affected.

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

          Section 514. Undertaking for Costs.

          All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof
shall be deemed to have agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit
of an undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in
such suit, having due regard to the merits and good faith of the claims or defenses made by such
party litigant; but the provisions of this Section 514 shall not apply to any suit instituted by
the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate
more than 10% in principal amount of the Securities then Outstanding, voting together as a single
class, or to any suit instituted by any Holder for the enforcement of the payment of the principal
of or interest on any Security on or after the respective Stated Maturities expressed in such
Security; provided that neither this Section 514 nor the Trust Indenture Act shall be deemed to
authorize any court to require such an undertaking or to make such an assessment in any suit
instituted by the Company.

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          Section 515. Waiver of Stay, Extension or Usury Laws.

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

ARTICLE SIX

THE TRUSTEE

          Section 601. Certain Duties and Responsibilities.

          (a) Except during the continuance of an Event of Default,

     (i) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture, and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and

     (ii) in the absence of willful misconduct or gross negligence on its part, the Trustee
may conclusively rely, as to the truth of the statements and the correctness of the opinions
expressed therein, upon certificates or opinions furnished to the Trustee and conforming to
the requirements of this Indenture; but in the case of any such certificates or opinions
which by any provision hereof are specifically required to be furnished to the Trustee, the
Trustee shall be under a duty to examine the same to determine whether or not they conform
to the requirements of this Indenture (but need not confirm or investigate the accuracy of
mathematical calculations or other facts stated therein).

          (b) In case an Event of Default has occurred and is continuing, the Trustee shall exercise
such of the rights and powers vested in it by this Indenture, and use the same degree of care and
skill in their exercise, as a prudent person would exercise or use under the circumstances in the
conduct of his or her own affairs.

          (c) No provision of this Indenture shall be construed to relieve the Trustee from liability
for its own negligent action, its own negligent failure to act, or its own willful misconduct,
except that

     (i) this Subsection shall not be construed to limit the effect of clause (a) of this
Section 601;

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

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     (iii) the Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders of a majority in
principal amount of the Outstanding Securities relating to the time, method and place of
conducting any proceeding for any remedy available to the Trustee, or exercising any trust
or power conferred upon the Trustee, under this Indenture with respect to the Securities;
and

     (iv) no provision of this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur any financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against such risk
or liability is not reasonably assured to it.

          (d) Whether or not therein expressly so provided, every provision of this Indenture relating
to the conduct or affecting the liability of or affording protection to the Trustee shall be
subject to the provisions of this Section.

          Section 602. Certain Rights of Trustee.

          Subject to the provisions of Trust Indenture Act Sections 315(a) through 315(d):

     (a) the Trustee may conclusively rely and shall be fully protected in acting or
refraining from acting upon any resolution, certificate, statement, instrument, opinion,
report, notice, request, direction, consent, order, bond, debenture, note, other evidence of
indebtedness or other paper or document (whether in its original or facsimile form) believed
by it to be genuine and to have been signed or presented by the proper party or parties;

     (b) any request or direction of the Company mentioned herein shall be sufficiently
evidenced by a Company Request or Company Order and any resolution of the Members may be
sufficiently evidenced by a Member Resolution;

     (c) whenever in the administration of this Indenture the Trustee shall deem it
desirable that a matter be proved or established prior to taking, suffering or omitting any
action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may,
in the absence of bad faith on its part, rely upon an Officers’ Certificate;

     (d) the Trustee may consult with counsel of its selection and the advice of such
counsel or any Opinion of Counsel shall be full and complete authorization and protection in
respect of any action taken, suffered or omitted by it hereunder in good faith and in
reliance thereon;

     (e) the Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the Holders pursuant to
this Indenture, unless such Holders shall have offered to the Trustee security or indemnity
reasonably satisfactory to it against the costs, expenses and liabilities which might be
incurred by it in compliance with such request or direction;

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     (f) the Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or
other paper or document, but the Trustee, in its discretion, may make such further inquiry
or investigation into such facts or matters as it may see fit, and, if the Trustee shall
determine to make such further inquiry or investigation, it shall be entitled to examine the
books, records and premises of the Company, personally or by agent or attorney at the
expense of the Company and shall incur no liability or additional liability of any kind by
reason of such inquiry or investigation;

     (g) the Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys and the Trustee shall not be
responsible for any misconduct or negligence on the part of any agent or attorney appointed
with due care by it hereunder;

     (h) the Trustee shall not be liable for any action taken, suffered, or omitted to be
taken by it in good faith and reasonably believed by it to be authorized or within the
discretion or rights or powers conferred upon it by this Indenture;

     (i) in no event shall the Trustee be responsible or liable for special, indirect,
punitive or consequential loss or damage of any kind whatsoever (including, but not limited
to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood
of such loss or damage and regardless of the form of action;

     (j) the Trustee shall not be deemed to have notice of any Default or Event of Default
unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written
notice of any event which is in fact such a default is received by the Trustee at the
Corporate Trust Office of the Trustee, and such notice references the Securities and this
Indenture;

     (k) the rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be
enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian
and other Person employed to act hereunder;

     (l) the Trustee shall not be required to give any bond or surety in respect of the
performance of its powers and duties hereunder; and

     (m) the Trustee may request that the Company deliver a certificate setting forth the
names of individuals and/or titles of officers authorized at such time to take specified
actions pursuant to this Indenture.

FORM OF INCUMBENCY CERTIFICATE

     The undersigned, ____________, being the ____________ of ____________ (the “Company”) does
hereby certify that the individuals listed below are qualified and acting officers of the Company
as set forth in the right column opposite their respective names and the signatures appearing in
the extreme right column opposite the name of each such officer is a true

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specimen of the genuine signature of such officer and such individuals have the authority to
execute documents to be delivered to, or upon the request of, _______________________, as Trustee
(the “Trustee”) under the Indenture dated as of
_________ __, 20 __, by and between the Company and
the Trustee.

	 	 	 	 	 
	Name	 	Title	 	Signature
	 
	 	 	 	 
	 

	 	 
	 	 
	 
	 	 	 	 
	 

	 	 
	 	 
	 
	 	 	 	 
	 

	 	 
	 	 

          IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate as of the
____ day of ________, 20_.

	 	 	 	 	 

	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

          Section 603. Not Responsible for Recitals or Issuance of Securities.

          The recitals contained herein and in the Securities, except the Trustee’s certificates of
authentication, shall be taken as the statements of the Company, and the Trustee assumes no
responsibility for their correctness. The Trustee makes no representations as to the validity or
sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the
use or application by the Company of Securities or the proceeds thereof, except that the Trustee
represents that it is duly authorized to execute and deliver this Indenture, authenticate the
Securities and perform its obligations hereunder.

          Section 604. May Hold Securities.

          The Trustee, any Paying Agent, Security Registrar or any other agent of the Company, in its
individual or any other capacity, may become the owner or pledgee of Securities and, subject to
Trust Indenture Act Sections 310(b) and 311, may otherwise deal with the Company with the same
rights it would have if it were not Trustee, Paying Agent, Security Registrar or such other agent.

          Section 605. Money Held in Trust.

          Money held by the Trustee in trust hereunder need not be segregated from other funds except to
the extent required by law. The Trustee shall be under no liability for interest on any money
received by it hereunder except as otherwise agreed in writing with the Company.

          Section 606. Compensation and Reimbursement.

          The Company agrees:

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     (a) to pay to the Trustee from time to time such compensation as shall be agreed to in
writing between the Company and the Trustee for all services rendered by it hereunder (which
compensation shall not be limited by any provision of law in regard to the compensation of a
trustee of an express trust);

     (b) except as otherwise expressly provided herein, to reimburse the Trustee upon its
request for all reasonable expenses, disbursements and advances incurred or made by the
Trustee in accordance with any provision of this Indenture (including the reasonable
compensation and the expenses and disbursements of its agents and counsel), except any such
expense, disbursement or advance as shall have been caused by its negligence or willful
misconduct; and

     (c) to indemnify each of the Trustee or any predecessor Trustee for, and to hold it
harmless against, any and all loss, damage, claim, liability or expense including taxes
(other than taxes based on the income of the Trustee) incurred without gross negligence or
willful misconduct on its part, arising out of or in connection with the acceptance or
administration of this trust, including the costs and expenses of defending itself against
any claim or liability in connection with the exercise or performance of any of its powers
or duties hereunder.

          As security for the performance of the obligations of the Company under this Section 606, the
Trustee shall have a Lien prior to the Securities upon all property and funds held or collected by
the Trustee as such, except funds held in trust for the benefit of Holders of particular
Securities.

          When the Trustee incurs expenses or renders services in connection with an Event of Default
specified in Section 501(f) or 501(g), the expenses (including the reasonable charges and expenses
of its counsel) and the compensation for the services shall be intended to constitute expenses of
administration under any Bankruptcy Law.

          The provisions of this Section 606 shall survive the termination of this Indenture.

          Section 607. Conflicting Interests.

          The Trustee shall comply with the provisions of Section 310(b) of the Trust Indenture Act.

          Section 608. Corporate Trustee Required; Eligibility.

          There shall at all times be a Trustee hereunder qualified or to be qualified under Trust
Indenture Act Section 310(a)(1) and which shall have a combined capital and surplus of at least
$50,000,000 to the extent there is such an institution eligible and willing to serve. If the
Trustee publishes reports of condition at least annually, pursuant to law or to the requirements of
Federal, State, Territorial or District of Columbia supervising or examining authority, then for
the purposes of this Section 608, the combined capital and surplus of the Trustee shall be deemed
to be its combined capital and surplus as set forth in its most recent report of condition so
published. If at any time the Trustee shall cease to be eligible in accordance with the provisions

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of this Section 608, it shall resign immediately in the manner and with the effect hereinafter
specified in this Article.

          Section 609. Resignation and Removal; Appointment of Successor.

          (a) No resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this Article shall become effective until the acceptance of appointment by the
successor Trustee under Section 610.

          (b) The Trustee may resign at any time by giving written notice thereof to the Company. If an
instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within
30 days after the giving of such notice of resignation, the resigning Trustee may petition at the
expense of the Company any court of competent jurisdiction for the appointment of a successor
Trustee.

          (c) The Trustee may be removed at any time by an Act of the Holders of a majority in principal
amount of the Outstanding Securities, delivered to the Trustee and the Company. If an instrument
of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days
after the giving of such notice of removal, the removed Trustee may petition at the expense of the
Company any court of competent jurisdiction for the appointment of a successor Trustee.

          (d) If at any time:

     (i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section
310(b) after written request therefor by the Company or by any Holder who has been a bona
fide Holder of a Security for at least six months, or

     (ii) the Trustee shall cease to be eligible under Section 608 and shall fail to resign
after written request therefor by the Company or by any Holder who has been a bona fide
Holder of a Security for at least six months, or

     (iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or
insolvent, or a receiver of the Trustee or of its property shall be appointed or any public
officer shall take charge or control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation,

then, in any case, (A) the Company by a Member Resolution may remove the Trustee, or (B) subject to
Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least
six months may, on behalf of himself and all others similarly situated, petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

          (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, the Company, by a Member Resolution, shall
promptly appoint a successor Trustee. If, within one year after such resignation, removal or
incapability, or the occurrence of such vacancy, a successor Trustee shall be appointed by Act of
the Holders of a majority in principal amount of the Outstanding

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Securities delivered to the Company and the retiring Trustee, the successor Trustee so
appointed shall, forthwith upon its acceptance of such appointment in accordance with Section 610,
become the successor Trustee and supersede the successor Trustee appointed by the Company. If no
successor Trustee shall have been so appointed by the Company or the Holders of the Securities and
so accepted appointment, the Holder of any Security who has been a bona fide Holder for at least
six months may, on behalf of himself and all others similarly situated, petition any court of
competent jurisdiction for the appointment of a successor Trustee.

          (f) The Company shall give notice of each resignation and each removal of the Trustee and each
appointment of a successor Trustee by mailing written notice of such event by first-class mail,
postage prepaid, to the Holders of Securities as their names and addresses appear in the Security
Register. Each notice shall include the name of the successor Trustee and the address of its
Corporate Trust Office.

          Section 610. Acceptance of Appointment by Successor.

          Every successor Trustee appointed hereunder shall execute, acknowledge and deliver to the
Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the
resignation or removal of the retiring Trustee shall become effective and such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers,
trusts and duties of the retiring Trustee, provided, however, that the retiring Trustee shall
continue to be entitled to the benefit of Section 606(c); but, on request of the Company or the
successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an
instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring
Trustee, and shall duly assign, transfer and deliver to such successor Trustee all property and
money held by such retiring Trustee hereunder. Upon request of any such successor Trustee, the
Company shall execute any and all instruments for more fully and certainly vesting in and
confirming to such successor Trustee all such rights, powers and trusts.

          No successor Trustee shall accept its appointment unless at the time of such acceptance such
successor Trustee shall be qualified and eligible under this Article.

          Section 611. Merger, Conversion, Consolidation or Succession to Business.

          Any corporation into which the Trustee may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion or consolidation to which
the Trustee shall be a party, or any corporation succeeding to all or substantially all of the
corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided
such corporation shall be otherwise qualified and eligible under this Article, without the
execution or filing of any paper or any further act on the part of any of the parties hereto. In
case any Securities shall have been authenticated, but not delivered, by the Trustee then in
office, any successor by merger, conversion or consolidation to such authenticating Trustee may
adopt such authentication and deliver the Securities so authenticated with the same effect as if
such successor Trustee had itself authenticated such Securities.

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          Section 612. Preferential Collection of Claims Against Company.

          If and when the Trustee shall be or become a creditor of the Company (or any other obligor
under the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act
regarding the collection of claims against the Company (or any such other obligor).

          Section 613. Trustee’s Application for Instructions from the Company.

          Any application by the Trustee for written instructions from the Company may, at the option of
the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under
this Indenture and the date on and/or after which such action shall be taken or such omission shall
be effective. The Trustee shall not be liable for any action taken by, or omission of, the Trustee
in accordance with a proposal included in such application on or after the date specified in such
application (which date shall not be less than three Business Days after the date any officer of
the Company actually received such application) unless, with respect to any such action (or the
effective date in the case of an omission), the Trustee shall have received written instructions in
response to such application specifying the action to be taken or omitted.

          Section 614. Notice of Defaults.

          Within 90 days after the occurrence of any Default, the Trustee shall transmit by mail to all
Holders, as their names and addresses appear in the Security Register, notice of such Default
hereunder actually known to a Responsible Officer of the Trustee, unless such default shall have
been cured or waived; provided, however, that, except in the case of a default in the payment of
the principal of or interest on any Security, the Trustee shall be protected in withholding such
notice if and so long as a trust committee of directors and/or Responsible Officers of the Trustee
in good faith determines that the withholding of such notice is in the interest of the Holders; and
provided further that, in the case of any default or breach of the character specified in Section
501(d), no such notice to Holders shall be given until at least 30 days after the occurrence
thereof.

ARTICLE SEVEN

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

          Section 701. Disclosure of Names and Addresses of Holders.

          Every Holder, by receiving and holding the same, agrees with the Company and the Trustee that
neither the Company nor the Trustee or any agent of either of them shall be held accountable by
reason of the disclosure of any information as to the names and addresses of the Holders in
accordance with Trust Indenture Act Section 312, regardless of the source from which such
information was derived, and that the Trustee shall not be held accountable by reason of mailing
any material pursuant to a request made under Trust Indenture Act Section 312.

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          Section 702. Reports by Trustee.

          Within 60 days after May 15 of each year commencing with May 15, 2011, the Trustee shall
transmit by mail to all Holders, as their names and addresses appear in the Security Register, as
provided in Trust Indenture Act Section 313(c), a brief report dated as of such May 15 if required
by Trust Indenture Act Section 313(a).

          Section 703. Reports by Company.

          (a) So long as any Securities are outstanding, the Company shall provide the Trustee and the
Holders of the Securities (i) all quarterly and annual financial statements that would be required
to be contained in a filing with the Commission on Forms 10-Q and 10-K if the Company were required
to file such forms, including with respect to the annual financial statements only, a report by the
Company’s certified independent accountant firm on such annual financial statements (provided that
no comparative information with respect to prior quarterly or annual periods shall be required to
be contained therein prior to any period ending on or prior to March 31, 2011), (ii) a
“Management’s Discussion and Analysis of Financial Condition and Results of Operations” that
describes the financial condition and results of operations of the Company and its consolidated
Subsidiaries, and (iii) a presentation of Operating Cash Flow for each period presented, provided,
however, that such reports shall not be required to (x) contain (1) separate financial statements
for any Guarantors other than condensed consolidating footnote disclosure containing information
with respect to Guarantors and Subsidiaries that are not Guaranteeing the Securities, in each case
on an aggregate basis, (2) a management report on internal control over financial reporting or
auditor’s attestation with respect thereto, or (3) any disclosure regarding executive compensation
of the Company and its Subsidiaries and (y) comply with the rules, regulations and policies of the
Commission with respect to any non-GAAP financial measures contained therein.

          (b) In addition, (1) such quarterly reports shall be provided within 60 days after the end of
each fiscal quarter of the Company (other than the fourth fiscal quarter in any fiscal year) and
(2) such annual reports shall be provided within 120 days after the end of each fiscal year of the
Company, except that the annual report for the fiscal year ended December 31, 2010 shall be
required to be provided on or prior to May 30, 2011.

          (c) The Company shall:

     (1) provide the Trustee and the Holders, within 10 Business Days, current reports with
respect to the following Form 8-K Items (or its successor items):

	 	A.	 	Item 1.01 (Entry into a Material Definitive
Agreement); provided that the information required by this Item shall
only be required with respect to any agreement (i) governing
Indebtedness in an aggregate principal amount of at least $5.0 million
and (ii) relating to the acquisition of any Person or business with a
Fair Market Value of at least $10.0 million;

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	 	B.	 	Item 1.02 (Termination of a Material Definitive
Agreement), but only with respect to an agreement that would have been
included in the proviso to clause (a);
	 
	 	C.	 	Item 1.03 (Bankruptcy or Receivership);
	 
	 	D.	 	Item 2.01 (Completion of Acquisition or
Disposition of Assets);
	 
	 	E.	 	Item 2.03 (Creation of a Direct Financial
Obligation or an Obligation under an Off-Balance Sheet Arrangement of a
Registrant);
	 
	 	F.	 	Item 2.04 (Triggering Events that Accelerate or
Increase a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement);
	 
	 	G.	 	Item 2.05 (Costs Associated with Exit or
Disposal Activities);
	 
	 	H.	 	Item 2.06 (Material Impairments);
	 
	 	I.	 	Item 4.01 (Changes in Registrant’s Certifying
Accountant);
	 
	 	J.	 	Item 4.02 (Non-Reliance on Previously Issued
Financial Statements or a Related Audit Report or Completed Interim
Review);
	 
	 	K.	 	Item 5.01 (Changes in Control of Registrant);
and
	 
	 	L.	 	Item 9.01 (Financial Statements and Exhibits),
but only with respect to exhibits disclosed in the Items set forth
above);

provided, however, that confidential information that is competitively sensitive may be redacted
from disclosures.

     (2) hold a quarterly conference call for the Holders to discuss the information
contained in the annual and quarterly reports required under this covenant not later than 5
Business Days after the time the Company distributes such information to the Holders;

     (3) no fewer than 3 Business Days prior to the date of the conference call required to
be held in accordance with clause (2) above, issue a press release to the appropriate wire
services announcing the time and date of such conference call and directing the Holders and
prospective investors to contact the investor relations office of the Company to obtain such
information or access such conference call; and

     (4) either (x) provide website access to the information required under this covenant
to Holders and prospective investors or (y) distribute information via electronic mail to
Holders and prospective investors who request to receive such information.

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          For the avoidance of doubt, during any period in which the Company is a direct or indirect
wholly owned subsidiary of Cablevision, it shall be sufficient for the purposes of satisfying (x)
Section 703(c)(2), for the conference call held by Cablevision with respect to its own securities
to include a discussion of the Company and (y) Section 703(c)(3), for the press release issued by
Cablevision to include a discussion of the financial information of the Company.

          If the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries under this
Indenture and such Subsidiaries together would constitute a Material Subsidiary, then the quarterly
and annual financial information required by this covenant shall include a reasonably detailed
presentation, either on the face of the financial statements or in the footnotes thereto, and in
“Management’s Discussion and Analysis of Financial Condition and Results of Operations,” of the
financial condition and results of operations of the Company and its Restricted Subsidiaries
separate from the financial condition and results of operations of the Unrestricted Subsidiaries.

          (d) In addition, so long as the Securities constitute restricted securities within the meaning
of Rule 144(a)(3) under the Securities Act and the Company is not subject to the informational
requirements of the Exchange Act, the Company and the Guarantors shall furnish to the Holders of
the Securities and to prospective investors, upon their request, the information required to be
delivered pursuant to Rule 144A(d)(4) under the Securities Act.

          Delivery of such reports, information and documents under this Section 703, as well as any
such reports, information and documents pursuant to this Indenture, to the Trustee is for
informational purposes only and the Trustee’s receipt of such shall not constitute constructive
notice of any information contained therein or determinable from information contained therein,
including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is
entitled to rely exclusively on Officers’ Certificates). The Trustee shall have no responsibility
or liability for the filing, timeliness or content of any report required under this Section 703 or
any other reports, information and documents required under this Indenture (aside from any report
that is expressly the responsibility of the Trustee subject to the terms hereof).

          The Company shall be entitled to require certification as to a person’s bona fide status as a
beneficial owner or prospective investor, as applicable, prior to distributing to such person the
information to be provided by the Company.

ARTICLE EIGHT

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

          Section 801. Company May Consolidate, Etc., Only on Certain Terms.

          The Company shall not consolidate or merge with or into, or sell, assign, transfer, lease,
convey, or otherwise dispose of all or substantially all of its assets to, any Person, unless:

     (a) the Person formed by or surviving any such consolidation or merger (if other than
the Company), or to which such sale, assignment, transfer, lease, conveyance or disposition
shall have been made, is a corporation organized and existing under the

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laws of the United States, any state thereof or the District of Columbia and shall
assume by supplemental indenture hereto all the obligations of the Company under the
Securities and this Indenture;

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

     (c) each Guarantor, unless such Guarantor is the Person with which the Company has
entered into a transaction under this Section 801, shall have by amendment to its applicable
Note Guarantee confirmed that such Note Guarantee shall apply to the obligations of the
Company or the surviving Person in accordance with the Securities and this Indenture;

     (d) immediately after such transaction, and after giving effect thereto, the Person
formed by or surviving any such consolidation or merger, or to which such sale, assignment,
transfer, lease or conveyance or disposition shall have been made (the “successor”) would be
able to incur at least $1.00 of additional Indebtedness pursuant to the Cash Flow Ratio test
set forth in Section 1007(a); and

     (e) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that such consolidation, merger or transfer and such supplemental
indenture, if one is required by this Section 801, comply with this Section 801 and that all
conditions precedent herein provided for relating to such transaction have been complied
with.

          Cash Flow Ratio for purposes of this Section 801 shall be computed as if any such successor
were the Company.

          Section 802. Successor Substituted.

          Upon any consolidation or merger, or any sale, assignment, transfer, Lease or conveyance or
other disposition of all or substantially all of the assets, of the Company in accordance with
Section 801, the successor Person formed by such consolidation or into which the Company is merged
or to which such sale, assignment, transfer, Lease, conveyance or other disposition is made shall
succeed to, and be substituted for, and may exercise every right and power of, the Company under
this Indenture with the same effect as if such successor Person had been named as the Company
herein. When a successor assumes all the obligations of its predecessor under this Indenture and
the Securities, the predecessor shall be released from those obligations, provided that in the case
of a transfer by Lease, the predecessor corporation shall not be released from the payment of
principal and interest on the Securities.

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ARTICLE NINE

SUPPLEMENTAL INDENTURES

          Section 901. Supplemental Indentures Without Consent of Holders.

          Without the consent of any Holders, the Company, when authorized by a Member Resolution, and
the Trustee, at any time and from time to time, may enter into one or more indentures supplemental
hereto in form satisfactory to the Trustee, for any of the following purposes:

     (a) to evidence the succession of another Person to the Company and the assumption by
any such successor of the covenants of the Company herein and in the Securities;

     (b) to add to the covenants of the Company for the benefit of the Holders, or to
surrender any right or power herein or in the Securities conferred upon the Company;

     (c) to cure any ambiguity, to correct or supplement any provision herein which may be
defective or inconsistent with any other provision herein, or to make any other provisions
with respect to matters or questions arising under this Indenture; provided that, in each
case, such provisions shall not adversely affect the interests of the Holders in any
material respect;

     (d) to secure the Securities, if the Company so elects;

     (e) to supplement any provisions of this Indenture to such extent as shall be necessary
to permit or facilitate the defeasance and discharge of the Securities pursuant to Sections
1301, 1302 and 1303;

     (f) to make any changes necessary to qualify this Indenture under the Trust Indenture
Act, if required to do so; or

     (g) to make any other change that does not adversely affect the rights of any Holder.

          Section 902. Supplemental Indentures with Consent of Holders.

          With the consent of the Holders of not less than a majority in aggregate principal amount of
the Securities then Outstanding, voting together as a single class, by Act of such Holders
delivered to the Company and the Trustee, the Company, when authorized by a Member Resolution, and
the Trustee may enter into one or more indentures supplemental hereto for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Indenture or
of waiving or modifying in any manner the rights of the Holders under this Indenture; provided,
however, that no such supplemental indenture, amendment or waiver shall, without the consent of the
Holder of each Outstanding Security affected thereby:

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     (a) change the Stated Maturity of, the principal of, or any installment of interest on,
any Security, or reduce the principal amount thereof or the rate of interest thereon, or
change the coin or currency in which the principal of any Security or the interest thereon
is payable, or impair the right to institute suit for the enforcement of any such payment
after the Stated Maturity thereof; or

     (b) release any Guarantor from any of its obligations under its Note Guarantee or this
Indenture, except in accordance with the terms of this Indenture; or

     (c) amend, change or modify the obligation of the Company to make and consummate an
Asset Sale Offer with respect to any Asset Sale in accordance with Section 1014 after the
obligation to make such Asset Sale Offer has arisen, or the obligation of the Company to
make and consummate a Change of Control Offer in the event of a Change of Control in
accordance with Section 1015 after such Change of Control has occurred, including, in each
case, amending, changing or modifying any definition relating thereto; or

     (d) reduce the percentage in principal amount of the Outstanding Securities the consent
of whose Holders is required for any such supplemental indenture, or the consent of whose
Holders is required for any waiver (of compliance with certain provisions of this Indenture
or certain defaults hereunder and their consequences) provided for in this Indenture; or

     (e) modify any of the provisions of this Section 902 or Section 513, except to increase
the percentage in principal amount of the Outstanding Securities the consent of whose
Holders is required for the relevant action or to provide that certain other provisions of
this Indenture cannot be modified or waived without the consent of the Holder of each
Outstanding Security affected thereby.

          It shall not be necessary for any Act of Holders under this Section 902 to approve the
particular form of any proposed supplemental indenture, but it shall be sufficient if such Act
shall approve the substance thereof.

          Section 903. Execution of Supplemental Indentures.

          In executing, or accepting the additional trusts created by, any supplemental indenture
permitted by this Article or the modifications thereby of the trusts created by this Indenture, the
Trustee shall be provided with, and (subject to Trust Indenture Act Section 315(a) through 315(d)
and Section 602 hereof) shall be fully protected in relying upon, an Opinion of Counsel and
Officers’ Certificate, each stating that the execution of such supplemental indenture is authorized
or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any
such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise.

          Section 904. Effect of Supplemental Indentures.

          Upon the execution of any supplemental indenture under this Article, this Indenture shall be
modified in accordance therewith, and such supplemental indenture shall form

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a part of this Indenture for all purposes; and every Holder theretofore or thereafter
authenticated and delivered hereunder shall be bound thereby.

          Section 905. Conformity with Trust Indenture Act.

          Every supplemental indenture executed pursuant to this Article shall conform to the
requirements of the Trust Indenture Act as then in effect.

          Section 906. Reference in Securities to Supplemental Indentures.

          Securities authenticated and delivered after the execution of any supplemental indenture
pursuant to this Article may, and shall if required by the Trustee, bear a notation in form
approved by the Trustee as to any matter provided for in such supplemental indenture. If the
Company shall so determine, new Securities so modified as to conform, in the opinion of the Trustee
and the Company, to any such supplemental indenture may be prepared and executed by the Company and
authenticated and delivered by the Trustee in exchange for Outstanding Securities.

ARTICLE TEN

COVENANTS

          Section 1001. Payment of Principal and Interest.

          The Company shall duly and punctually pay the principal of and interest on the Securities in
accordance with the terms of the Securities and this Indenture.

          Section 1002. Maintenance of Office or Agency.

          The Company shall maintain, in The City of New York, an office or agency where Securities may
be presented or surrendered for payment, where Securities may be surrendered for registration of
transfer or exchange and where notices and demands to or upon the Company in respect of the
Securities and this Indenture may be served. If the Corporate Trust Office is located in New York
City, then it shall be such office or agency of the Company, unless the Company shall designate and
maintain some other office or agency for one or more of such purposes. The Company shall give
prompt written notice to the Trustee of any change in the location of any such office or agency.
If at any time the Company shall fail to maintain any such required office or agency or shall fail
to furnish the Trustee with the address thereof, such presentations, surrenders, notices and
demands may be made or served at the Corporate Trust Office, and the Company hereby appoints the
Trustee as its agent to receive all such presentations, surrenders, notices and demands.

          The Company may from time to time designate one or more other offices or agencies (in or
outside of The City of New York) where the Securities may be presented or surrendered for any or
all such purposes, and may from time to time rescind such designation; provided, however, that no
such designation or rescission shall in any manner relieve the Company of its obligation to
maintain an office or agency in The City of New York for such

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purposes. The Company shall give prompt written notice to the Trustee of any such designation
or rescission and any change in the location of any such office or agency.

          Section 1003. Money for Security Payments to Be Held in Trust.

          If the Company shall at any time act as its own Paying Agent, it shall, on or before each due
date of the principal of or interest on any of the Securities, segregate and hold in trust for the
benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest so
becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein
provided, and shall promptly notify the Trustee of its action or failure so to act.

          Whenever the Company shall have one or more Paying Agents for the Securities, it shall, on or
before each due date of the principal of or interest on any Securities, deposit with a Paying Agent
a sum in same day funds (or New York Clearing House funds if such deposit is made prior to the date
on which such deposit is required to be made) sufficient to pay the principal or interest so
becoming due, such sum to be held in trust for the benefit of the Persons entitled to such
principal or interest and (unless such Paying Agent is the Trustee) the Company shall promptly
notify the Trustee of such action or any failure so to act.

          The Company shall cause each Paying Agent other than the Trustee to execute and deliver to the
Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the
provisions of this Section 1003, that such Paying Agent shall:

     (a) hold all sums held by it for the payment of the principal of or interest on
Securities in trust for the benefit of the Persons entitled thereto until such sums shall be
paid to such Persons or otherwise disposed of as herein provided;

     (b) give the Trustee notice of any default by the Company (or any other obligor upon
the Securities) in the making of any payment of principal or interest; and

     (c) at any time during the continuance of any such default, upon the written request of
the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent.

          The Company may at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay,
to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by
the Trustee upon the same trusts as those upon which such sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be
released from all further liability with respect to such money.

          Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of or interest on any Security and remaining unclaimed for
two years after such principal or interest has become due and payable shall be paid to the Company
on Company Request or (if then held by the Company) shall be discharged from such trust; and the
Holder of such Security shall thereafter, as an unsecured general creditor, look only to the
Company for payment thereof, and all liability of the Trustee or such Paying Agent

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with respect to such trust money, and all liability of the Company as trustee thereof, shall
thereupon cease.

          Section 1004. Corporate Existence.

          Subject to Article Eight, the Company shall do or cause to be done all things necessary to
preserve and keep in full force and effect its corporate existence and that of each Restricted
Subsidiary and the corporate rights (charter and statutory), corporate licenses and corporate
franchises of the Company and its Restricted Subsidiaries, except where a failure to do so, singly
or in the aggregate, is not likely to have a materially adverse effect upon the business, assets,
financial condition or results of operations of the Company and the Restricted Subsidiaries taken
as a whole determined on a consolidated basis in accordance with GAAP; provided that the Company
shall not be required to preserve any such existence (except of the Company), right, license or
franchise if the Company or the Restricted Subsidiary concerned shall determine that the
preservation thereof is no longer desirable in the conduct of the business of the Company or such
Restricted Subsidiary and that the loss thereof is not disadvantageous in any material respect to
the Holders.

          Section 1005. Payment of Taxes and Other Claims.

          The Company shall pay or discharge or cause to be paid or discharged, before the same shall
become delinquent, (a) all material taxes, assessments and governmental charges levied or imposed
upon it or any Subsidiary or upon the income, profits or property of the Company or any of its
Subsidiaries and (b) all material lawful claims for labor, materials and supplies, which, if
unpaid, might by law become a Lien upon the property of the Company or any Restricted Subsidiary;
provided, however, that the Company shall not be required to pay or discharge or cause to be paid
or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is
being contested in good faith by appropriate proceedings.

          Section 1006. Maintenance of Properties.

          The Company shall cause all material properties owned by or leased to it or any Restricted
Subsidiary and necessary in the conduct of its business or the business of such Restricted
Subsidiary to be maintained and kept in normal condition, repair and working order, ordinary wear
and tear excepted; provided that nothing in this Section 1006 shall prevent the Company or any
Restricted Subsidiary from discontinuing the use, operation or maintenance of any of such
properties, or disposing of any of them, if such discontinuance or disposal is, in the judgment of
the Company or the Restricted Subsidiary concerned, or of any officer (or other agent employed by
the Company or any Restricted Subsidiary) of the Company or such Restricted Subsidiary having
managerial responsibility for any such property, desirable in the conduct of the business of the
Company or any Restricted Subsidiary and if such discontinuance or disposal is not adverse in any
material respect to the Holders.

          The Company shall provide or cause to be provided, for itself and any Restricted Subsidiaries,
insurance (including appropriate self-insurance) against loss or damage of the kinds customarily
insured against by corporations similarly situated and owning like properties in the same general
areas in which the Company or such Restricted Subsidiaries operate.

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          Section 1007. Limitation on Indebtedness.

          (a) The Company shall not, and shall not permit any Restricted Subsidiary to, directly or
indirectly, incur any Indebtedness (other than Indebtedness between or among any of the Company and
its Restricted Subsidiaries) unless, after giving effect thereto, the Cash Flow Ratio shall be less
than or equal to 7.5 to 1.

          (b) So long as no Default would be caused thereby, this Section 1007 shall not prohibit any of
the following (collectively, “Permitted Debt”):

	 	(1)	 	the incurrence at any time by the Company of Indebtedness under
Credit Facilities (and the incurrence by Restricted Subsidiaries of Guarantees
thereof) in an aggregate principal amount at any one time outstanding pursuant
to this clause (1) (with letters of credit being deemed to have a principal
amount equal to the maximum potential liability of the Company and its
Restricted Subsidiaries thereunder) not to exceed $1,040.0 million, less the
aggregate amount of all Net Proceeds of Asset Sales applied by the Company or
any Restricted Subsidiary to permanently repay any such Indebtedness pursuant
to Section 1014;
	 
	 	(2)	 	the incurrence of Existing Indebtedness;
	 
	 	(3)	 	the incurrence by the Company and the Guarantors of
Indebtedness represented by the Securities and the related Note Guarantees to
be issued on the date of this Indenture;
	 
	 	(4)	 	the incurrence by the Company or any of its Restricted
Subsidiaries of Indebtedness represented by Capitalized Lease Obligations,
mortgage financings or purchase money obligations, in each case, incurred for
the purpose of financing all or any part of the purchase price or cost of
construction or improvement of property, plant or equipment used in the
business of the Company or such Restricted Subsidiary, in an aggregate
principal amount, including all Permitted Refinancing Indebtedness incurred to
refund, refinance or replace any Indebtedness incurred pursuant to this clause
(4), not to exceed $50.0 million at any time outstanding;
	 
	 	(5)	 	the incurrence by the Company or any Restricted Subsidiary of
Permitted Refinancing Indebtedness in exchange for, or the net proceeds of
which are used to refund, refinance or replace Indebtedness (other than
intercompany Indebtedness) that was permitted to be incurred under Section
1007(a) or clauses (2), (3), (4), (5), (10) or (17) of this Section 1007(b);
	 
	 	(6)	 	the incurrence by the Company or any of its Restricted
Subsidiaries of intercompany Indebtedness owing to and held by the Company or
any of its Restricted Subsidiaries; provided, however, that:

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	 	 	 	(a) if the Company or any Guarantor is the obligor on such Indebtedness and
such Indebtedness is held by a Person that is not the Company or a
Guarantor, such Indebtedness must be unsecured and expressly subordinated to
the prior payment in full in cash of all obligations with respect to the
Securities, in the case of the Company, or the Note Guarantee, in the case
of a Guarantor;
	 
	 	 	 	(b) Indebtedness owed to the Company or any Guarantor must be evidenced by
an unsubordinated promissory note, unless the obligor under such
Indebtedness is the Company or a Guarantor; and
	 
	 	 	 	(c) (i) any subsequent issuance or transfer of Equity Interests that results
in any such Indebtedness being owed to a Person other than the Company or a
Restricted Subsidiary and (ii) any sale or other transfer of any such
Indebtedness to a Person that is not either the Company or a Restricted
Subsidiary, shall be deemed, in each case, to constitute an incurrence of
such Indebtedness by the Company or such Restricted Subsidiary, as the case
may be, that was not permitted by this clause (6);
	 
	 	(7)	 	the issuance of shares of Preferred Stock by any of the
Company’s Restricted Subsidiaries to the Company or to a Guarantor; provided
that (i) any subsequent issuance or transfer of any Equity Interests that
results in such Preferred Stock being held by a Person other than the Company
or a Guarantor and (ii) any sale or other transfer of any such Preferred Stock
to a Person that is not either the Company or a Guarantor shall be deemed, in
each case, to constitute an issuance of such shares of Preferred Stock that was
not permitted by this clause (7);
	 
	 	(8)	 	the Guarantee by the Company or any of the Restricted
Subsidiaries of Indebtedness of the Company or a Restricted Subsidiary that was
permitted to be incurred by another provision of this Section 1007;
	 
	 	(9)	 	the incurrence of Monetization Indebtedness;
	 
	 	(10)	 	the incurrence of Acquired Indebtedness (other than
Indebtedness incurred in contemplation of, or in connection with, the
transaction or series of related transactions pursuant to which such Person is
acquired by or otherwise merged into or consolidated with the Company or any
Restricted Subsidiary); provided that after giving effect to such transaction,
either
	 
	 	 	 	(a) the Company would be permitted to incur at least $1.00 of additional
Indebtedness pursuant to the Cash Flow Ratio test set forth in Section
1007(a), or
	 
	 	 	 	(b) the Cash Flow Ratio of the Company and its Restricted Subsidiaries would
be no higher as a result of such transaction;

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	 	(11)	 	the incurrence by the Company or any of its Restricted
Subsidiaries of Indebtedness to the extent the net proceeds thereof are
promptly deposited to (i) defease all outstanding Securities in accordance with
Section 1302 or (ii) satisfy and discharge this Indenture as described in
Section 401;
	 
	 	(12)	 	Indebtedness of the Company or any Restricted Subsidiary (i) in
connection with surety, performance, appeal or similar bonds, completion
guarantees, or similar instruments entered into in the ordinary course of
business or from letters of credit or other obligations in respect of property,
casualty or liability insurance, self-insurance, workers’ compensation
obligations or similar arrangements and (ii) consisting of the financing of
insurance premiums or take-or-pay obligations contained in supply arrangements,
in each case incurred in the ordinary course of business;
	 
	 	(13)	 	Indebtedness of the Company or any of its Restricted
Subsidiaries arising from the honoring by a bank or other financial institution
of a check, draft or similar instrument inadvertently (except in the case of
daylight overdrafts such amount need not be inadvertent) drawn against
insufficient funds in the ordinary course of business;
	 
	 	(14)	 	Indebtedness of the Company or any Restricted Subsidiary
arising from agreements for indemnification, earnouts or purchase price
adjustment obligations or similar obligations, or from guarantees or letters of
credit, surety bonds or performance bonds securing any obligation of the
Company or a Restricted Subsidiary pursuant to such an agreement, in each case,
incurred or assumed in connection with the acquisition or disposition of any
business, assets or properties;
	 
	 	(15)	 	cash management obligations and Indebtedness incurred in
respect of netting services, overdraft protection and similar arrangements;
	 
	 	(16)	 	Indebtedness consisting of obligations under deferred
compensation, earn-out or other similar arrangements incurred by the Company or
any Restricted Subsidiary in connection with the Transactions or any
acquisition not prohibited by this Indenture; or
	 
	 	(17)	 	the incurrence by the Company or any of its Restricted
Subsidiaries of additional Indebtedness in an aggregate principal amount (or
accreted value, as applicable) at any time outstanding, including all Permitted
Refinancing Indebtedness incurred to refund, refinance or replace any
Indebtedness incurred pursuant to this clause (17), not to exceed $40.0
million.

          For purposes of determining compliance with this Section 1007, in the event that any proposed
Indebtedness meets the criteria of more than one of the categories of Permitted Debt described in
clauses (1) through (17) above, or is entitled to be incurred pursuant to

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Section 1007(a), the Company shall be permitted to classify at the time of its incurrence such item of
Indebtedness in any manner that complies with this Section 1007. Indebtedness under the Credit
Agreement outstanding on the date on which Securities are first issued under this Indenture shall
be deemed to have been incurred on such date in reliance on the exception provided by clause (1) of
Section 1007(b). In addition, (A) any Indebtedness originally classified as incurred pursuant to
clauses (1) through (17) above may later be reclassified by the Company such that it shall be
deemed as having been incurred pursuant to another of such clauses to the extent that such
reclassified Indebtedness could be incurred pursuant to such new clause at the time of such
reclassification and (B) any Indebtedness originally classified as incurred pursuant to clause (1)
in Section 1007(b), or pursuant to Section 1007(b) (2) through (17) of that definition may later be
reclassified by the Company such that it shall be deemed as having been incurred pursuant to
Section 1007(a) or pursuant to another of such clauses to the extent that such reclassified
Indebtedness could be incurred pursuant to Section 1007(a) or such new clause at the time of such
reclassification.

          Notwithstanding any other provision of this Section 1007:

	 	(A)	 	the maximum amount of Indebtedness that may be
incurred pursuant to this Section 1007 shall not be deemed to be
exceeded with respect to any outstanding Indebtedness due solely to the
result of fluctuations in the exchange rates of currencies or changes
in GAAP;
	 
	 	(B)	 	any Indebtedness of a Person existing at the
time such Person becomes a Restricted Subsidiary shall be deemed to be
incurred by such Restricted Subsidiary at the time it becomes a
Restricted Subsidiary;
	 
	 	(C)	 	neither the accrual of interest nor the
accretion of original issue discount (to the extent provided for when
the Indebtedness on which such interest is paid was originally issued)
shall be considered an incurrence of Indebtedness; as applicable; and
	 
	 	(D)	 	the payment of interest in the form of
additional Indebtedness with the same terms and the payment of
dividends on Disqualified Stock or Preferred Stock in the form of
additional shares of the same class of Disqualified Stock (to the
extent provided for when the Indebtedness, Disqualified Stock or
Preferred Stock on which such interest or dividend is paid was
originally issued) shall not be considered an incurrence of
Indebtedness.

          The Company shall not incur any Indebtedness that is subordinate or junior in right of payment
to any other Indebtedness of the Company unless it is subordinate in right of payment to the
Securities to the same extent. No Guarantor shall incur any Indebtedness that is subordinate or
junior in right of payment to any other Indebtedness of such Guarantor unless it is subordinate in
right of payment to such Guarantor’s Note Guarantee to the same extent. For purposes of the
foregoing, no Indebtedness shall be deemed to be subordinated in right of

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payment to any other Indebtedness of the Company or any Guarantor, as applicable, solely by
virtue of being unsecured or by virtue of the fact that the holders of any secured Indebtedness
have entered into intercreditor agreements giving one or more of such holders priority over the
other holders in the collateral held by them.

          Section 1008. Limitation on Liens.

          The Company shall not, and shall not permit any Restricted Subsidiary to, directly or
indirectly, create, incur, assume or suffer to exist any Lien of any kind, except for Permitted
Liens, on or with respect to any of its property or assets, whether owned at the date of this
Indenture or thereafter acquired, or any income, profits or proceeds therefrom, or assign or
otherwise convey any right to receive income thereon, unless (x) in the case of any Lien securing
Indebtedness that is subordinated in right of payment to the Securities, the Securities are secured
by a Lien on such property, assets or proceeds that is senior in priority to such Lien and (y) in
the case of any other Lien, the Securities are equally and ratably secured.

          Section 1009. Limitation on Restricted Payments.

          (a) Except as otherwise provided in this Section 1009, the Company shall not, and shall not
permit any Restricted Subsidiary to, make any Restricted Payment if (1) at the time of such
proposed Restricted Payment, a Default or Event of Default shall have occurred and be continuing or
shall occur as a consequence of such Restricted Payment, (2) the Company would, at the time of such
Restricted Payment and after giving pro forma effect thereto, have been prohibited from incurring
at least $1.00 of additional Indebtedness pursuant to the Cash Flow Ratio test in Section 1007(a)
or (3) immediately after giving effect to such Restricted Payment, the aggregate of all Restricted
Payments that shall have been made since the date of this Indenture would exceed the sum of $25.0
million plus an amount equal to the difference between (i) the Cumulative Cash Flow Credit and (ii)
1.4 multiplied by Cumulative Interest Expense.

          For purposes of this Section 1009, the amount of any Restricted Payment, if other than cash,
shall be based upon Fair Market Value.

	 	(b)	 	The foregoing provisions of this Section 1009 shall not prevent:
	 
	 	(1)	 	the payment of any dividend within 60 days after the date of
declaration thereof, if at such date of declaration such payment complied with
the foregoing provisions of this Section 1009;
	 
	 	(2)	 	the retirement, redemption, purchase, defeasance or other
acquisition of any shares of the Company’s Capital Stock or warrants, rights or
options to acquire Capital Stock of the Company, in exchange for, or out of the
proceeds of a sale (within one year before or 180 days after such retirement,
redemption, purchase, defeasance or other acquisition) of, other shares of the
Company’s Capital Stock or warrants, rights or options to acquire Capital Stock
of the Company;
	 
	 	(3)	 	the payment of any dividend by a Restricted Subsidiary to the
holders of its common Equity Interests on a pro rata basis;

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	 	(4)	 	repurchases of Equity Interests in a cashless transaction
deemed to occur upon exercise or vesting of restricted stock, stock options or
warrants;
	 
	 	(5)	 	the declaration and payment of dividends or the payment of
other distributions by the Company or a Restricted Subsidiary, or the making of
loans or advances to pay, in each case without duplication:

	 	(a)	 	franchise or similar taxes and other similar
fees, taxes and expenses required to maintain its legal existence;
	 
	 	(b)	 	amounts required by the direct or indirect
parent entities of the Company to pay federal, state, local and foreign
income taxes with respect to their allocable shares of the taxable
income of the Company and Holdings and their respective subsidiaries as
a result of their direct or indirect ownership of the Company and
Holdings; and
	 
	 	(c)	 	operating expenses, other corporate overhead
costs and expenses and capital expenditures to the Company’s direct or
indirect parent entities, including, without limitation, in respect of
directors’ fees and expenses, administrative, legal and accounting
services, and costs and expenses with respect to filings with the
Commission, plus any reasonable and customary indemnification claims
made by directors, officers, members of management, employees or
consultants of Holdings, the Company and their respective subsidiaries
attributable, in each case, to the ownership or operations of the
Company and its Restricted Subsidiaries;

	 	(6)	 	the distribution of the proceeds of the issuance of the
Securities and borrowings under the Credit Agreement to the extent described in
the Offering Memorandum under “Use of Proceeds”; or
	 
	 	(7)	 	the payment of cash in lieu of the issuance of fractional
 shares or scrip in connection with the exercise of warrants, options or other
securities convertible into or exercisable for Capital Stock of the Company.

          For purposes of determining the aggregate permissible amount of Restricted Payments in
accordance with clause (3) of Section 1009(a), all amounts expended pursuant to Section 1009(b)(1)
shall be included and all amounts expended or received pursuant to Sections 1009(b)(2) through (7)
shall be excluded; provided, however, that amounts paid pursuant to Section 1009(b)(1) shall be
included only to the extent that such amounts were not previously included in calculating
Restricted Payments.

          If the Company or a Restricted Subsidiary makes a Restricted Payment that at the time of the
making of such Restricted Payment, would be in the Company’s good faith determination permitted
under the requirements of this Section 1009, such Restricted Payment shall be deemed to have been
made in compliance with this Section 1009 notwithstanding any

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subsequent adjustments made in good faith to the Company’s financial statements affecting the
calculations set forth above for any period.

          For the purposes of this Section 1009, the net proceeds from the issuance of shares of the
Company’s Capital Stock upon conversion of Indebtedness shall be deemed to be an amount equal to
the accreted value of such Indebtedness on the date of such conversion and the additional
consideration, if any, the Company receives upon such conversion, minus any cash payment on account
of fractional shares (such consideration, if in property other than cash, to be determined by the
Company, whose good faith determination shall be conclusive).

          Section 1010. Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries.

          (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, create or permit to exist or become effective any consensual encumbrance or
restriction on the ability of any Restricted Subsidiary to:

	 	(1)	 	pay dividends or make any other distributions on its Capital
Stock (or with respect to any other interest or participation in, or measured
by, its profits) to the Company or any of its Restricted Subsidiaries or pay
any Indebtedness owed to the Company or any of its Restricted Subsidiaries;
	 
	 	(2)	 	make loans or advances to the Company or any of its Restricted
Subsidiaries; or
	 
	 	(3)	 	transfer any of its properties or assets to the Company or any
of its Restricted Subsidiaries.

          (b) The restrictions set forth in Section 1010(a) shall not apply to encumbrances or
restrictions:

	 	(1)	 	existing under, by reason of or with respect to the Credit
Agreement, Existing Indebtedness or any other agreements in effect on the date
of this Indenture and any amendments, modifications, restatements, renewals,
extensions, supplements, refundings, replacements or refinancings thereof,
provided, that the encumbrances and restrictions in any such amendments,
modifications, restatements, renewals, extensions, supplements, refundings,
replacements or refinancings are not materially more restrictive, taken as a
whole, than those contained in the Credit Agreement, Existing Indebtedness or
such other agreements, as the case may be, as in effect on the date of this
Indenture;
	 
	 	(2)	 	set forth in this Indenture, the Securities and the Note
Guarantees;
	 
	 	(3)	 	existing under, by reason of or with respect to applicable law,
rule, regulation or order;

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	 	(4)	 	with respect to any Person or the property or assets of a
Person acquired by the Company or any of its Restricted Subsidiaries existing
at the time of such acquisition and not incurred in connection with or in
contemplation of such acquisition, which encumbrance or restriction is not
applicable to any Person or the properties or assets of any Person, other than
the Person, or the property or assets of the Person, so acquired and any
amendments, modifications, restatements, renewals, extensions, supplements,
refundings, replacements or refinancings thereof, provided, that the
encumbrances and restrictions in any such amendments, modifications,
restatements, renewals, extensions, supplements, refundings, replacements, or
refinancings are not materially more restrictive, taken as a whole, than those
in effect on the date of the acquisition;
	 
	 	(5)	 	in the case of Section 1010(a)(3):

	 	(A)	 	that restrict in a customary manner the
subletting, assignment or transfer of any property or asset that is a
lease, license, conveyance or contract or similar property or asset,
	 
	 	(B)	 	existing by virtue of any transfer of,
agreement to transfer, option or right with respect to, or Lien on, any
property or assets of the Company or any Restricted Subsidiary thereof
not otherwise prohibited by this Indenture, or
	 
	 	(C)	 	arising or agreed to in the ordinary course of
business, not relating to any Indebtedness, and that do not,
individually or in the aggregate, materially detract from the value of
property or assets of the Company or any Restricted Subsidiary thereof;

	 	(6)	 	existing under, by reason of or with respect to any agreement
for the sale or other disposition of all or substantially all of the Capital
Stock of, or property and assets of, a Restricted Subsidiary that restrict
distributions by that Restricted Subsidiary pending such sale or other
disposition;
	 
	 	(7)	 	restrictions on cash or other deposits or net worth imposed by
customers or lessors or required by insurance, surety or bonding companies, in
each case, under contracts, leases or other agreements entered into in the
ordinary course of business; and
	 
	 	(8)	 	existing under, by reason of or with respect to customary
supermajority voting provisions and customary provisions with respect to the
disposition or distribution of assets or property, in each case contained in
joint venture, partnership, or limited liability company agreements.

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          Section 1011. Transactions with Affiliates.

          The Company shall not, and shall not permit any of its Subsidiaries to, effect any transaction
with any affiliate of the Company that is not a Restricted Subsidiary, having a value, or for
consideration having a value, in excess of $20.0 million unless the Company’s or such Restricted
Subsidiary’s board of directors (or the person duly authorized to perform similar functions) shall
make a good faith determination that the terms of such transaction are, taken as a whole, no less
favorable to the Company or such Restricted Subsidiary, as the case may be than would at the time
be obtainable for a comparable transaction in arms-length dealing with an unrelated third party;
provided, however, that this provision shall not apply to:

	 	(1)	 	overhead and other ordinary course allocations of costs and
services on a reasonable basis;
	 
	 	(2)	 	allocations of tax liabilities and other tax-related items
among the Company and its Affiliates based principally upon the financial
income, taxable income, credits and other amounts directly related to the
respective parties, to the extent that the share of such liabilities and other
items allocable to the Company and its Restricted Subsidiaries shall not exceed
the amount that such Persons would have been responsible for as a direct
taxpayer;
	 
	 	(3)	 	Permitted Investments and Restricted Payments permitted under
Section 1009;
	 
	 	(4)	 	agreements or arrangements with Cablevision and its
subsidiaries for the provision of various management, operational and facility
services including, without limitation, administrative, legal, human resources,
accounting, financial planning, technical, facility, call center and data
processing support;
	 
	 	(5)	 	programming agreements or arrangements for existing or new
programming services or content provided by Cablevision Affiliates including,
without limitation, Rainbow National Services LLC and its subsidiaries and
Madison Square Garden, Inc. and its subsidiaries;
	 
	 	(6)	 	programming agreements or arrangements with Cablevision and its
subsidiaries for existing or new programming services or content provided by
unaffiliated third parties;
	 
	 	(7)	 	arrangements or agreements to sell or buy advertising between
the Company and its Subsidiaries and Cablevision and its subsidiaries;
	 
	 	(8)	 	arrangements or agreements regarding the use of intellectual
property between the Company and its Subsidiaries and Cablevision and its
subsidiaries;

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	 	(9)	 	arrangements or agreements for capital expenditure requirements
including, without limitation, consumer premise equipment, between the Company
and its Subsidiaries and Cablevision and its subsidiaries;
	 
	 	(10)	 	arrangements or agreements entered into in the ordinary course
of business providing for the acquisition or provision of goods or services
(including guarantees otherwise permissible under the Credit Agreement, leases
or licenses of property) (i) between the Company and its Subsidiaries and
Cablevision and its subsidiaries or (ii) under which the Company or any of its
Subsidiaries may be jointly and severally liable with Cablevision or any of its
subsidiaries as to which costs are allocated based on cost, usage or other
reasonable method of allocation (or are otherwise immaterial);
	 
	 	(11)	 	leases of equipment and other real or personal property or
provision of telecommunications or related services or facilities for use in
the ordinary course of business (including any subleasing or allocations to or
from Cablevision and its subsidiaries) by the Company and its Subsidiaries,
including, without limitation, pole rental leases, leases for microwave
transmission and servers, reception rights, radio programming spectrum,
intellectual property and similar items;
	 
	 	(12)	 	affiliate matters described in or contemplated by reports filed
by the Company, Cablevision or CSC Holdings, LLC with the Commission;
	 
	 	(13)	 	contracts or arrangements with any Dolan Family Interests
approved in accordance with Cablevision policies not otherwise included in or
contemplated by any of the foregoing items; and
	 
	 	(14)	 	amendments, modifications, renewals or replacements from time
to time of any of the contracts, arrangements, leases, services or other
matters referred to or contemplated by any of the foregoing items.

          Section 1012. Designation of Restricted and Unrestricted Subsidiaries.

          (a) Unless designated as an Unrestricted Subsidiary, each newly acquired or created Subsidiary
or a Restricted Subsidiary shall be a Restricted Subsidiary. Any Restricted Subsidiary may be
designated by the Company as an Unrestricted Subsidiary; provided that:

	 	(1)	 	any Guarantee by the Company or any Restricted Subsidiary
thereof of any Indebtedness of the Subsidiary being so designated shall be
deemed to be an incurrence of Indebtedness by the Company or such Restricted
Subsidiary (or both, if applicable) at the time of such designation, and such
incurrence of Indebtedness would be permitted under Section 1007;
	 
	 	(2)	 	the aggregate Fair Market Value of all outstanding Investments
owned by the Company and its Restricted Subsidiaries in the Subsidiary being so
designated (including any Guarantee by the Company or any Restricted Subsidiary
of any Indebtedness of such Subsidiary) shall be deemed to be

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	 	 	 	a Restricted Investment made as of the time of such designation and that
such Investment would be permitted under Section 1009;
	 
	 	(3)	 	such Subsidiary does not hold any Liens (other than Permitted
Liens) on any property of the Company or any Restricted Subsidiary thereof;
	 
	 	(4)	 	the Subsidiary being so designated:

	 	(a)	 	is not party to any agreement, contract,
arrangement or understanding with the Company or any Restricted
Subsidiary unless the terms of any such agreement, contract,
arrangement or understanding are no less favorable to the Company or
such Restricted Subsidiary than those that might be obtained at the
time from Persons who are not Affiliates of the Company unless the
Company and the Restricted Subsidiaries would have been permitted to be
a party to such agreement, contract, arrangement or understanding with
Cablevision or its subsidiaries or another party under Section 1011;
	 
	 	(b)	 	is a Person with respect to which neither the
Company nor any of its Restricted Subsidiaries has any direct or
indirect obligation (i) to subscribe for additional Equity Interests or
(ii) to maintain or preserve such Person’s financial condition or to
cause such Person to achieve any specified levels of operating results;
and
	 
	 	(c)	 	has not Guaranteed or otherwise directly or
indirectly provided credit support for any Indebtedness of the Company
or any of its Restricted Subsidiaries, except to the extent such
Guarantee or credit support would be released upon such designation;
and

	 	(5)	 	no Default or Event of Default would be in existence following
such designation.

          (b) Any designation of a Restricted Subsidiary as an Unrestricted Subsidiary shall be
evidenced to the Trustee by filing with the Trustee an Officers’ Certificate certifying that such
designation complied with the preceding conditions and was permitted by this Indenture. If, at any
time, any Unrestricted Subsidiary would fail to meet any of the preceding requirements described in
Section 1012(a)(4) above and such failure continues for a period of 90 days, it shall thereafter
cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness,
Investments, or Liens on the property, of such Subsidiary shall be deemed to be incurred or made by
a Restricted Subsidiary as of such date and, if such Indebtedness, Investments or Liens are not
permitted to be incurred or made as of such date under this Indenture, the Company shall be in
violation of this Section 1012.

          (c) The Company may at any time designate any Unrestricted Subsidiary to be a Restricted
Subsidiary; provided that:

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	 	(1)	 	such designation shall be deemed to be an incurrence of
Indebtedness by a Restricted Subsidiary of any outstanding Indebtedness of such
Unrestricted Subsidiary and such designation shall only be permitted if such
Indebtedness is permitted under Section 1007, calculated on a pro forma basis
as if such designation had occurred at the beginning of the applicable
four-quarter reference period;
	 
	 	(2)	 	all outstanding Investments owned by such Unrestricted
Subsidiary shall be deemed to be made as of the time of such designation and
such Investments shall only be permitted if such Investments would be permitted
under Section 1009;
	 
	 	(3)	 	all Liens upon property or assets of such Unrestricted
Subsidiary existing at the time of such designation would be permitted under
Section 1008; and
	 
	 	(4)	 	no Default or Event of Default would be in existence following
such designation.

          Section 1013. Guarantees.

          (a) The Company shall not permit any of its Restricted Subsidiaries (other than any
Insignificant Subsidiary), directly or indirectly, to Guarantee or pledge any assets to secure the
payment of any other Indebtedness of the Company or any of the Company’s other Restricted
Subsidiaries unless such Restricted Subsidiary (x) is a Guarantor under this Indenture or (y)
becomes a Guarantor under this Indenture and simultaneously executes and delivers a supplemental
indenture providing for the Guarantee of the payment of the Securities by such Restricted
Subsidiary, provided that such Guarantee shall be senior to or pari passu with such Subsidiary’s
Guarantee of such other Indebtedness. In addition, in the event that any Restricted Subsidiary
that is an Insignificant Subsidiary ceases to be an Insignificant Subsidiary, then such Restricted
Subsidiary must become a Guarantor and execute a supplemental indenture and, if requested, deliver
an opinion of counsel to the Trustee.

          (b) A Guarantor may not sell or otherwise dispose of all or substantially all of its assets
to, or consolidate with or merge with or into (whether or not such Guarantor is the surviving
Person), another Person, other than the Company or another Guarantor, unless:

	 	(1)	 	immediately after giving effect to that transaction, no Default
or Event of Default exists; and
	 
	 	(2)	 	either:

	 	A.	 	the Person acquiring the property in any such
sale or disposition or the Person formed by or surviving any such
consolidation or merger (if other than the Guarantor) is organized or
existing under the laws of the United States, any state thereof or the
District of Columbia and assumes all the obligations of that Guarantor
under this Indenture and

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	 	 	 	its Note Guarantee pursuant to a supplemental indenture satisfactory to
the Trustee; or
	 
	 	B.	 	such sale or other disposition or consolidation
or merger complies with Section 1014.

	 	(c)	 	The Note Guarantee of a Guarantor shall be released:
	 
	 	(1)	 	in connection with any sale or other disposition of all of the
Capital Stock of that Guarantor to a Person that is not (either before or after
giving effect to such transaction) a Restricted Subsidiary, if the sale of all
such Capital Stock of that Guarantor complies with Section 1014;
	 
	 	(2)	 	if the Company properly designates any Restricted Subsidiary
that is a Guarantor as an Unrestricted Subsidiary under this Indenture; or

upon the release or discharge of the Guarantee (including the Guarantee under the Credit Agreement)
which resulted in the creation of such Note Guarantee pursuant to this Section 1013 (except a
discharge or release by or as a result of payment under such Guarantee); provided that such
Guarantor does not have any preferred stock outstanding at such time that is not held by the
Company or any Guarantor.

          Section 1014. Asset Sales.

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

	 	(1)	 	the Company (or the Restricted Subsidiary, as the case may be)
receives consideration at the time of such Asset Sale at least equal to the
Fair Market Value of the assets or Equity Interests issued or sold or otherwise
disposed of; provided that this clause (1) shall not apply to an Asset Sale
resulting solely from a foreclosure or sale by a third party upon assets or
property subject to a Lien not prohibited by this Indenture;
	 
	 	(2)	 	where such Fair Market Value exceeds $50.0 million, the
Company’s determination of such Fair Market Value is set forth in an Officers’
Certificate delivered to the Trustee; and
	 
	 	(3)	 	at least 75% of the consideration therefor received by the
Company or such Restricted Subsidiary is in the form of cash, Cash Equivalents
or Replacement Assets or a combination thereof. For purposes of this
provision, each of the following shall be deemed to be Cash Equivalents:

	 	A.	 	any liabilities (as shown on the Company’s or
such Restricted Subsidiary’s most recent balance sheet, or would be
shown on the Company’s or such Restricted Subsidiary’s balance sheet on
the date of such Asset Sale) of the Company or any Restricted
Subsidiary (other than contingent liabilities, Indebtedness that is by

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	 	 	 	its terms subordinated to the Securities or any Note Guarantee and
liabilities to the extent owed to the Company or any Affiliate of the
Company) that are assumed by the transferee of any such assets
pursuant to a written agreement that releases the Company or such
Restricted Subsidiary from further liability therefor; and
	 
	 	B.	 	any securities, notes or other obligations
received by the Company or any such Restricted Subsidiary from such
transferee that are converted (including by way of any Monetization
Transaction) by the Company or such Restricted Subsidiary into cash (to
the extent of the cash received in that conversion) within 180 days of
such Asset Sale.

          (b) Within 360 days after the receipt (or within 540 days of receipt if a binding commitment
to make an acquisition pursuant to clause (2) below or a purchase pursuant to clause (3) below is
entered into within 360 days after the receipt) of any Net Proceeds from an Asset Sale, the Company
may apply such Net Proceeds at its option:

	 	(1)	 	to repay unsubordinated secured Indebtedness and, if the
Indebtedness repaid is revolving credit Indebtedness, to correspondingly reduce
commitments with respect thereto;
	 
	 	(2)	 	to acquire all or substantially all of the assets of, or a
majority of the Voting Stock of, another Permitted Business (including by means
of a merger, consolidation or other business combination not prohibited under
this Indenture) to be held, commencing on the date of such acquisition, as or
in a Restricted Subsidiary;
	 
	 	(3)	 	to pay for or purchase Replacement Assets; or
	 
	 	(4)	 	in any combination of applications specified in clauses (1)
through (3) above.

          Pending the final application of any such Net Proceeds, the Company may temporarily reduce
revolving credit borrowings or otherwise invest such Net Proceeds in any manner that is not
prohibited by this Indenture.

          (c) Any Net Proceeds from Asset Sales that are not applied or invested as provided in the
second preceding paragraph shall constitute “Excess Proceeds.” Within 30 days after the aggregate
amount of Excess Proceeds exceeds $50.0 million, the Company shall make an Asset Sale offer (an
“Asset Sale Offer”) to all Holders of Securities and all Holders of other Indebtedness that is pari
passu with the Securities or any Note Guarantee containing provisions similar to those set forth in
this Indenture with respect to offers to purchase with the proceeds of sales of assets, to purchase
the maximum principal amount of Securities and such other pari passu Indebtedness that may be
purchased out of the Excess Proceeds. The offer price in any Asset Sale Offer shall be equal to
100% of the principal amount of the Securities and such other pari passu Indebtedness plus accrued
and unpaid interest to the date of purchase, and shall be payable in cash. If any Excess Proceeds
remain after consummation of an Asset Sale Offer, the

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Company may use such Excess Proceeds for any purpose not prohibited by this Indenture. If the
aggregate principal amount of Securities and such other pari passu Indebtedness tendered into such
Asset Sale Offer exceeds the amount of Excess Proceeds, the Securities and such other pari passu
Indebtedness shall be purchased on a pro rata basis based on the principal amount of Securities and
such other pari passu Indebtedness tendered. Upon completion of each Asset Sale Offer, the amount
of Excess Proceeds shall be reset at zero.

          (d) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act, and
any other securities laws and regulations thereunder to the extent such laws and regulations are
applicable in connection with each repurchase of Securities pursuant to an Asset Sale Offer. To
the extent that the provisions of any securities laws or regulations conflict with this Section
1014, the Company shall comply with the applicable securities laws and regulations and shall not be
deemed to have breached its obligations under this Section 1014 by virtue of such compliance.

          Section 1015. Offer to Repurchase upon a Change of Control.

          (a) Upon the occurrence of a Change of Control, each Holder shall have the right to require
the Company to repurchase all or any part (equal to $1,000 or an integral multiple thereof) of that
Holder’s Securities pursuant to the offer described below (the “Change of Control Offer”) at a
repurchase price in cash equal to 101% of the aggregate principal amount of Securities repurchased
plus accrued and unpaid interest thereon, to the Change of Control Payment Date.

          (b) Within 60 days following any Change of Control, the Company shall mail a notice to each
Holder describing the transaction or transactions that constitute the Change of Control and
offering to repurchase Securities outstanding on the Change of Control Payment Date specified in
such notice, which date shall be no earlier than 30 days and no later than 60 days from the date
such notice is mailed.

          (c) On the Change of Control Payment Date, the Company shall, to the extent lawful:

	 	(1)	 	accept for payment all Securities or portions thereof properly
tendered pursuant to the Change of Control Offer;
	 
	 	(2)	 	deposit with the Paying Agent an amount equal to the Change of
Control Payment in respect of all Securities or portions thereof so tendered;
and
	 
	 	(3)	 	deliver or cause to be delivered to the Trustee the Securities
so accepted together with an Officers’ Certificate stating the aggregate
principal amount of Securities or portions thereof being purchased by the
Company.

          (d) The Paying Agent shall promptly mail or wire transfer to each Holder so tendered the
Change of Control Payment for such Securities, and the Trustee shall promptly authenticate and mail
(or cause to be transferred by book entry) to each Holder a new Security equal in principal amount
to any unpurchased portion of the Securities surrendered, if any;

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provided that each such new Security shall be in a principal amount of $2,000 or an integral
multiple of $1,000 in excess thereof.

          (e) This Section 1015 shall be applicable regardless of whether any other provisions of this
Indenture are applicable, so long as any Securities are outstanding. Except as described above
with respect to a Change of Control, this Indenture does not contain provisions that permit the
Holders of the Securities to require that the Company repurchase or redeem the Securities in the
event of a takeover, recapitalization or similar transaction.

          (f) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and
any other securities laws and regulations thereunder to the extent such laws and regulations are
applicable in connection with the repurchase of the Securities as a result of a Change of Control.
To the extent that the provisions of any securities laws or regulations conflict with this Section
1015, the Company shall comply with the applicable securities laws and regulations and shall not be
deemed to have breached their obligations under the Change of Control provisions of this Indenture
by virtue of such compliance.

          (g) The Company shall not be required to make a Change of Control Offer upon a Change of
Control if a third party makes the Change of Control Offer in the manner, at the times and
otherwise in compliance with the requirements set forth in this Section 1015 applicable to a Change
of Control Offer made by the Company and purchases all Securities validly tendered and not
withdrawn under such Change of Control Offer.

          Section 1016. Suspension of Covenants Upon Investment Grade Ratings.

          (a) During any period of time that the Securities maintain an Investment Grade Rating from
both Rating Agencies and no Default or Event of Default shall have occurred and be continuing (the
foregoing conditions being referred to collectively as the “Suspension Condition”), the Company and
its Restricted Subsidiaries shall not be subject to Sections 801(b), 801(d), 1007, 1009, 1010,
1011, 1017 and 1108 (collectively, the “Suspended Covenants”).

          (b) If the Company and its Restricted Subsidiaries are not subject to the Suspended Covenants
with respect to the Securities for any period of time as a result of the foregoing and,
subsequently, one or both Rating Agencies withdraw their Investment Grade Rating or downgrade the
Investment Grade Rating assigned to the Securities such that the Securities no longer have an
Investment Grade Rating from both Rating Agencies, then the Company and each of its Restricted
Subsidiaries shall thereafter again be subject to the Suspended Covenants. Compliance with the
Suspended Covenants with respect to Restricted Payments made after the time of such withdrawal or
downgrade shall be calculated in accordance with Section 1009 as if such covenant had been in
effect during the entire period of time from the date of this Indenture.

          Section 1017. Limitation on Issuances and Sales of Equity Interests in Restricted Subsidiaries.

          The Company shall not transfer, convey, sell, lease or otherwise dispose of, and shall not
permit any of its Restricted Subsidiaries to issue, transfer, convey, sell, lease or otherwise
dispose of, any Equity Interests in any Restricted Subsidiary to any Person (other than

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the Company or a Restricted Subsidiary or shares of its Capital Stock constituting directors’
qualifying shares or issuances of shares of Capital Stock of foreign Restricted Subsidiaries to
foreign nationals, to the extent required by applicable law), except:

          (a) if, immediately after giving effect to such issuance, transfer, conveyance, sale, lease or
other disposition, such Restricted Subsidiary would no longer constitute a Restricted Subsidiary
and any Investment in such Person remaining after giving effect to such issuance or sale would have
been permitted to be made under Section 1009 if made on the date of such issuance or sale and the
cash Net Proceeds from such transfer, conveyance, sale, lease or other disposition are applied in
accordance with Section 1014; or

          (b) sales of Equity Interests of a Restricted Subsidiary by the Company or a Restricted
Subsidiary; provided that the Company or such Restricted Subsidiary complies with Section 1014.

          Section 1018. [RESERVED].

          Section 1019. Statement as to Compliance.

          The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year
ending after December 31, 2011, a brief certificate of its principal executive officer, principal
financial officer or principal accounting officer stating whether, to such officer’s knowledge, the
Company is in compliance with all covenants and conditions under this Indenture. For purposes of
this Section 1019, such compliance shall be determined without regard to any period of grace or
requirement of notice under this Indenture.

          Section 1020. Waiver of Certain Covenants.

          The Company may omit in any particular instance to comply with any covenant or condition set
forth in Sections 1007 through 1017 if, before or after the time for such compliance, the Holders
of a majority in aggregate principal amount of the Outstanding Securities, by Act of such Holders,
waive such compliance in such instance or generally waive compliance with such covenant or
condition, but no such waiver shall extend to or affect such covenant or condition except to the
extent so expressly waived, and, until such waiver shall become effective, the obligations of the
Company and the duties of the Trustee in respect of any such covenant or condition shall remain in
full force and effect.

          Section 1021. Statement by Officers as to Default.

          The Company shall deliver to the Trustee, as soon as possible and in any event within five
days after the Company becomes aware of the occurrence of any Event of Default or an event which,
with notice or the lapse of time or both, would constitute an Event of Default, an Officers’
Certificate setting forth the details of such Event of Default or default and the action which the
Company proposes to take with respect thereto.

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ARTICLE ELEVEN

REDEMPTION OF SECURITIES

          Section 1101. Notices to Trustee.

          If the Company elects to redeem Securities pursuant to the optional redemption provisions of
Section 1107 hereof, it shall furnish to the Trustee, at least 30 days but not more than 60 days
before a Redemption Date, an Officers’ Certificate setting forth (i) the Section of this Indenture
pursuant to which the redemption shall occur, (ii) the Redemption Date, (iii) the principal amount
of Securities to be redeemed and (iv) the Redemption Price.

          Section 1102. Selection of Securities to Be Redeemed.

          (a) If less than all of the Securities are to be redeemed at any time, the Trustee shall
select the Securities to be redeemed among the Holders of the Securities in compliance with the
requirements of the principal national securities exchange, if any, on which the Securities are
listed or, if the Securities are not so listed, on a pro rata basis, by lot or in accordance with
any other method the Trustee considers fair and appropriate. In the event of partial redemption by
lot, the particular Securities to be redeemed shall be selected, unless otherwise provided herein,
not less than 30 nor more than 60 days prior to the Redemption Date by the Trustee from the
outstanding Securities not previously called for redemption.

          (b) The Trustee shall promptly notify the Company in writing of the Securities selected for
redemption and, in the case of any Security selected for partial redemption, the principal amount
at maturity thereof to be redeemed. No Securities in amounts of $2,000 or less shall be redeemed
in part. Securities and portions of Securities selected for redemption shall be in amounts of
$1,000 or integral multiples thereof; provided that the unredeemed portion of Securities held by a
Holder after giving effect to the redemption shall not be in an amount of less than $2,000; and
provided further that if all of the Securities of a Holder are to be redeemed, the entire
outstanding amount of Securities held by such Holder, even if not $2,000 or a multiple of $1,000 in
excess thereof, shall be redeemed. Except as provided in the preceding sentence, provisions of
this Indenture that apply to Securities called for redemption also apply to portions of Securities
called for redemption.

          Section 1103. Notice of Redemption.

          (a) At least 30 days but not more than 60 days before a Redemption Date, the Company shall
mail or cause to be mailed, by first class mail, a notice of redemption to each Holder whose
Securities are to be redeemed at its registered address.

          The notice shall identify the Securities (including the CUSIP or ISIN numbers) to be redeemed
and shall state:

     (i) the Redemption Date;

     (ii) if any Security is being redeemed in part, the portion of the principal amount at
maturity of such Security to be redeemed and that, after the Redemption Date

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upon surrender of such Security, a new Security or Securities in principal amount equal
to the unredeemed portion of the original Security shall be issued in the name of the Holder
thereof upon cancellation of the original Security;

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

     (iv) that Securities called for redemption must be surrendered to the Paying Agent to
collect the Redemption Price and become due on the date fixed for redemption;

     (v) that, unless the Company defaults in making such redemption payment, interest, if
any, on Securities called for redemption ceases to accrue on and after the Redemption Date;
and

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

          (b) At the Company’s request, the Trustee shall give the notice of redemption in the Company’s
name and at its expense; provided, however, that the Company shall have delivered to the Trustee,
at least 35 days prior to the Redemption Date, an Officers’ Certificate requesting that the Trustee
give such notice and setting forth the information to be stated in such notice as provided in the
preceding paragraph. The notice, if mailed in the manner provided herein shall be presumed to have
been given, whether or not the Holder receives such notice.

          Section 1104. Effect of Notice of Redemption.

          A notice of redemption may be conditional. Once notice of redemption is mailed in accordance
with Section 1103 hereof, provided that any conditions to such redemption are satisfied, Securities
called for redemption shall become irrevocably due and payable on the Redemption Date at the
Redemption Price.

          Section 1105. Deposit of Redemption Price.

          (a) Not later than 11:00 am on the Redemption Date, the Company shall deposit with the Trustee
or with the Paying Agent money sufficient to pay the Redemption Price of and accrued interest, if
any, on all Securities to be redeemed on that date. The Trustee or the Paying Agent shall promptly
return to the Company any money deposited with the Trustee or the Paying Agent by the Company in
excess of the amounts necessary to pay the Redemption Price of, and accrued interest, if any, on,
all Securities to be redeemed.

          (b) If the Company complies with the provisions of the preceding paragraph, on and after the
Redemption Date, interest shall cease to accrue on the Securities or the portions of Securities
called for redemption. If a Security is redeemed on or after a Regular Record Date but on or prior
to the related interest payment date, then any accrued and unpaid interest shall be paid to the
Person in whose name such Security was registered at the close of business on such Regular Record
Date. If any Security called for redemption shall not be so paid upon surrender for redemption
because of the failure of the Company to comply with the preceding paragraph, interest shall be
paid on the unpaid principal, from the Redemption Date until such principal is

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paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case
at the rate provided in the Securities and in Section 1001 hereof.

          Section 1106. Securities Redeemed in Part.

          Upon surrender of a Security that is redeemed in part, the Company shall issue and the Trustee
shall authenticate for the Holder at the expense of the Company a new Security equal in principal
amount to the unredeemed portion of the Security surrendered. No Securities in denominations of
$2,000 or less shall be redeemed in part.

          Section 1107. Optional Redemption.

          (a) At any time prior to December 15, 2013, the Company may redeem the Securities, in whole or
in part, at any time and from time to time at a redemption price equal to the greater of (i) 100%
of the principal amount of the Securities to be redeemed, or (ii) as determined by a Quotation
Agent, the sum of the present values of the remaining scheduled payments of principal and interest
thereon (not including any portion of such payments of interest accrued to the Redemption Date)
discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Adjusted Treasury Rate plus 50 basis points, plus, in each case,
accrued and unpaid interest to the Redemption Date.

          (b) At any time prior to December 15, 2013, the Company may redeem up to 35% of the aggregate
principal amount of Securities issued under this Indenture (including any Additional Securities),
at its option at any time and from time to time, at a redemption price of 108% of the principal
amount thereof, plus accrued and unpaid interest thereon to the applicable Redemption Date, with
the net cash proceeds of one or more Qualified Equity Offerings; provided that: (i) at least 65%
of the aggregate principal amount of Securities issued under this Indenture (including any
Additional Securities) remains outstanding immediately after the occurrence of such redemption
(excluding, for purposes of such calculation, Securities held by the Company or its Subsidiaries);
and (ii) the redemption must occur within 90 days of the date of the closing of such Qualified
Equity Offering.

          (c) Except pursuant to paragraphs (a) and (b) of this Section 1107, the Securities will not be
redeemable at the Company’s option prior to December 15, 2013.

          (d) On or after December 15, 2013, the Company may redeem Securities, at its option in whole
or in part at any time and from time to time, at the redemption prices (expressed as percentages of
principal amount) set forth below, plus accrued and unpaid interest thereon, to the applicable
Redemption Date, if redeemed during the twelve month period beginning on December 15 of the years
indicated below:

	 	 	 	 	 
	Year	 	Percentage
	2013
	 	 	106.000	%
	2014
	 	 	104.000	%
	2015
	 	 	102.000	%
	2016 and thereafter
	 	 	100.000	%

98

 

          (e) Each redemption price provided for in this Section 1107 shall be referred to herein as the
“Redemption Price”. Any redemption pursuant to this Section 1107 shall be made pursuant to the
provisions of Sections 1101 through 1106 hereof.

          Section 1108. Repurchase at the Option of Holders.

          In the event that, pursuant to Section 1014 or Section 1015, the Company shall be required to
commence an offer to all Holders to purchase all or a portion of their respective Securities (a
“Repurchase Offer”), they shall follow the procedures specified in such Sections and, to the extent
not inconsistent therewith, the procedures specified below.

          The Repurchase Offer shall remain open for a period of no less than 30 days and no more than
60 days following its commencement, except to the extent that a longer period is required by
applicable law (the “Offer Period”). No later than three Business Days after the termination of
the Offer Period (the “Purchase Date”), the Company shall purchase the principal amount of
Securities required to be purchased pursuant to Section 1014 or 1015 hereof (the “Offer Amount”)
or, if less than the Offer Amount has been tendered, all Securities tendered in response to the
Repurchase Offer. Payment for any Securities so purchased shall be made in the same manner as
interest payments are made.

          If the Purchase Date is on or after an interest record date and on or before the related
interest payment date, any accrued and unpaid interest shall be paid to the Person in whose name a
Security is registered at the close of business on such record date, and no additional interest
shall be payable to Holders who tender Securities pursuant to the Repurchase Offer.

          Upon the commencement of a Repurchase Offer, the Company shall send, by first class mail, a
notice to each of the Holders, with a copy to the Trustee. The notice shall contain all
instructions and materials necessary to enable such Holders to tender Securities pursuant to the
Repurchase Offer. The Repurchase Offer shall be made to all Holders. The notice, which shall
govern the terms of the Repurchase Offer, shall state:

     (i) that the Repurchase Offer is being made pursuant to this Section 1108 and Section
1014 or Section 1015 hereof, and the length of time the Repurchase Offer shall remain open;

     (ii) the Offer Amount, the purchase price and the Purchase Date;

     (iii) that any Security not tendered or accepted for payment shall continue to accrue
interest;

     (iv) that, unless the Company defaults in making such payment, any Security (or portion
thereof) accepted for payment pursuant to the Repurchase Offer shall cease to accrue
interest after the Purchase Date;

     (v) that Holders electing to have a Security purchased pursuant to a Repurchase Offer
may elect to have Securities purchased in integral multiples of $2,000 only and integral
multiples of $1,000 in excess thereof;

99

 

     (vi) that Holders electing to have a Security purchased pursuant to any Repurchase
Offer shall be required to surrender the Security, with the form entitled “Option of Holder
to Elect Purchase” on the reverse of the Security completed, or transfer by book-entry
transfer, to the Company, a depositary, if appointed by the Company, or a Paying Agent at
the address specified in the notice at least three days before the Purchase Date;

     (vii) that Holders shall be entitled to withdraw their election if the Company, a
depositary, if appointed by the Company, or the Paying Agent, as the case may be, receives,
not later than the expiration of the Offer Period, a facsimile transmission or letter
setting forth the name of the Holder, the principal amount of the Security the Holder
delivered for purchase and a statement that such Holder is withdrawing his election to have
such Security purchased;

     (viii) that, if the aggregate amount of Securities surrendered by Holders exceeds the
Offer Amount, the Trustee shall, subject in the case of a Repurchase Offer made pursuant to
Section 1014, select the Securities to be purchased on a pro rata basis (with such
adjustments as may be deemed appropriate by the Trustee so that only Securities in
denominations of $2,000, or integral multiples of $1,000 in excess thereof, shall be
purchased); and

     (ix) that Holders whose Securities were purchased only in part shall be issued new
Securities equal in principal amount to the unpurchased portion of the Securities
surrendered (or transferred by book-entry transfer).

          On the Purchase Date, the Company shall, to the extent lawful, subject in the case of a
Repurchase Offer made pursuant to Section 1014 to the provisions of Section 1014, accept for
payment on a pro rata basis to the extent necessary, the Offer Amount of Securities (or portions
thereof) tendered pursuant to the Repurchase Offer, or if less than the Offer Amount has been
tendered, all Securities tendered, and shall deliver to the Trustee an Officers’ Certificate
stating that such Securities (or portions thereof) were accepted for payment by the Company in
accordance with the terms of this Section 1108. The Company, a depositary, if appointed by the
Company, or the Paying Agent, as the case may be, shall promptly (but in any case not later than
three days after the Purchase Date) mail or deliver to each tendering Holder an amount equal to the
purchase price of Securities tendered by such Holder, as the case may be, and accepted by the
Company for purchase, and the Company shall promptly issue a new Security. The Trustee, upon
written request from the Company shall authenticate and mail or deliver such new Security to such
Holder, in a principal amount at maturity equal to any unpurchased portion of the Security
surrendered. Any Security not so accepted shall be promptly mailed or delivered by the Company to
the respective Holder thereof. The Company shall publicly announce the results of the Repurchase
Offer on the Purchase Date.

          The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent such laws or regulations are
applicable in connection with the repurchase of the Securities pursuant to a Repurchase Offer. To
the extent that the provisions of any securities laws or regulations conflict with Section 1014,
1015 or 1108, the Company shall comply with the applicable securities laws

100

 

and regulations and shall not be deemed to have breached its obligations under Section 1014,
1015 or 1108 by virtue of such compliance.

ARTICLE TWELVE

NOTE GUARANTEES

          Section 1201. Note Guarantee.

          (a) Subject to this Article Twelve, each of the Guarantors hereby, jointly and severally, and
fully and unconditionally, guarantees to each Holder and to the Trustee and its successors and
assigns, irrespective of the validity and enforceability of, this Indenture, the Securities or the
obligations of the Company hereunder or thereunder, that: (i) the principal of, premium, if any,
and interest on the Securities shall be promptly paid in full when due, whether at maturity, by
acceleration, redemption or otherwise, and interest on the overdue principal of, premium, if any,
and interest on the Securities, if lawful (subject in all cases to any applicable grace period
provided herein), and all other obligations of the Company to the Holders or the Trustee hereunder
or thereunder shall be promptly paid in full, all in accordance with the terms hereof and thereof;
and (ii) in case of any extension of time of payment or renewal of any Securities or any of such
other obligations, the same shall be promptly paid in full when due in accordance with the terms of
the extension or renewal, whether at stated maturity, by acceleration or otherwise. Failing
payment when due of any amount so guaranteed for whatever reason, the Guarantors shall be jointly
and severally obligated to pay the same immediately. Each Guarantor agrees that this is a
guarantee of payment and not a guarantee of collection.

          (b) The Guarantors hereby agree that, to the maximum extent permitted under applicable law,
their obligations hereunder shall be unconditional, irrespective of the validity, regularity or
enforceability of the Securities or this Indenture, the absence of any action to enforce the same,
any waiver or consent by any Holder with respect to any provisions hereof or thereof, the recovery
of any judgment against the Company, any action to enforce the same or any other circumstance which
might otherwise constitute a legal or equitable discharge or defense of a Guarantor. Subject to
Section 507, each Guarantor hereby waives diligence, presentment, demand of payment, filing of
claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a
proceeding first against the Company, protest, notice and all demands whatsoever and covenants that
this Note Guarantee shall not be discharged except by complete performance of the obligations
contained in the Securities and this Indenture.

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

          (d) Each Guarantor agrees that it shall not be entitled to any right of subrogation in
relation to the Holders in respect of any obligations guaranteed hereby until payment in full of
all obligations guaranteed hereby. Each Guarantor further agrees that, as between the

101

 

Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (i) the
maturity of the obligations guaranteed hereby may be accelerated as provided in Article Five for
the purposes of this Note Guarantee, notwithstanding any stay, injunction or other prohibition
preventing such acceleration in respect of the obligations guaranteed hereby, and (ii) in the event
of any declaration of acceleration of such obligations as provided in Article Five hereof, such
obligations (whether or not due and payable) shall forthwith become due and payable by the
Guarantors for the purpose of this Note Guarantee. The Guarantors shall have the right to seek
contribution from any non-paying Guarantor so long as the exercise of such right does not impair
the rights of the Holders under the Note Guarantee.

          Section 1202. Limitation on Guarantor Liability.

          Each Guarantor, and by its acceptance of Securities, each Holder, hereby confirms that it is
the intention of all such parties that the Note Guarantee of such Guarantor not constitute (i) a
fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance
Act, the Uniform Fraudulent Transfer Act or any similar federal, state or foreign law to the extent
applicable to its Note Guarantee or (ii) an unlawful distribution under any applicable state law
prohibiting shareholder distributions by an insolvent subsidiary to the extent applicable to its
Note Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors
hereby irrevocably agree that the obligations of such Guarantor shall be limited to the maximum
amount as shall, after giving effect to all other contingent and fixed liabilities of such
Guarantor that are relevant under such laws, and after giving effect to any collections from,
rights to receive contribution from or payments made by or on behalf of any other Guarantor in
respect of the obligations of such other Guarantor under its Note Guarantee or this Article Twelve,
result in the obligations of such Guarantor under its Note Guarantee not constituting a fraudulent
transfer or conveyance or such an unlawful shareholder distribution.

          Section 1203. Execution and Delivery of Note Guarantee.

          (a) To evidence its Note Guarantee set forth in Section 1201, each Guarantor hereby agrees
that a notation of such Note Guarantee substantially in the form included in Exhibit B
shall be endorsed by an Officer or member of such Guarantor by manual or facsimile signature on
each Security authenticated and delivered by the Trustee.

          (b) Each Guarantor hereby agrees that its Note Guarantee set forth in Section 1201 shall
remain in full force and effect notwithstanding any failure to endorse on each Security a notation
of such Note Guarantee.

          (c) If an Officer or member of a Guarantor whose signature is on a Note Guarantee no longer
holds that office at the time the Trustee authenticates the Security on which a Note Guarantee is
endorsed, such Note Guarantee shall be valid nevertheless.

          (d) The delivery of any Security by the Trustee, after the authentication thereof hereunder,
shall constitute due delivery of the Note Guarantee set forth in this Indenture on behalf of the
Guarantors.

102

 

          (e) If required by Section 1013, the Company shall cause such Subsidiaries to execute
supplemental indentures to this Indenture and notations of Note Guarantee in accordance with
Section 1013 and this Article Twelve, to the extent applicable.

ARTICLE THIRTEEN

DEFEASANCE AND COVENANT DEFEASANCE

          Section 1301. Option to Effect Defeasance or Covenant Defeasance.

          The Company may, at its option by Member Resolution, at any time, with respect to the
Securities, elect to have either Section 1302 or Section 1303 be applied to all Outstanding
Securities upon compliance with the conditions set forth below in this Article Thirteen.

          Section 1302. Defeasance and Discharge.

          Upon the Company’s exercise under Section 1301 of the option applicable to this Section 1302,
the Company shall be deemed to have been discharged from its obligations with respect to all
Outstanding Securities on the date the conditions set forth below are satisfied (hereinafter,
“defeasance”). For this purpose, such defeasance means that the Company shall be deemed to have
paid and discharged the entire indebtedness represented by the Outstanding Securities, which shall
thereafter be deemed to be “Outstanding” only for the purposes of Section 1305 and the other
Sections of this Indenture referred to in (A) and (B) below, and to have satisfied all its other
obligations under such Securities and this Indenture (and the Trustee, on demand of and at the
expense of the Company, shall execute proper instruments acknowledging the same), except for the
following which shall survive until otherwise terminated or discharged hereunder: (A) the rights
of Holders of Outstanding Securities to receive solely from the trust fund described in Section
1304 and as more fully set forth in such Section, payments in respect of the principal of and
interest on such Securities when such payments are due, (B) the Company’s obligations with respect
to such Securities under Sections 304, 305, 306, 1002 and 1003, (C) the rights, powers, trusts,
duties and immunities of the Trustee hereunder and the Company’s obligations in connection
therewith and (D) this Article Thirteen. Subject to compliance with this Article Thirteen, the
Company may exercise its option under this Section 1302 notwithstanding the prior exercise of its
option under Section 1303 with respect to the Securities.

          Section 1303. Covenant Defeasance.

          Upon the Company’s exercise under Section 1301 of the option applicable to this Section 1303,
the Company shall be released from all obligations under any covenant contained in Article Eight
and in Sections 1004 through 1017 with respect to the Outstanding Securities on and after the date
the conditions set forth below are satisfied (hereinafter, “covenant defeasance”), and the
Securities shall thereafter be deemed to be not “Outstanding” for the purposes of any direction,
waiver, consent or declaration or Act of Holders (and the consequences of any thereof) in
connection with such covenants, but shall continue to be deemed “Outstanding” for all other
purposes hereunder (it being understood that such Securities shall not be deemed Outstanding for
financial accounting purposes). For this purpose, such covenant

103

 

defeasance means that, with respect to the Outstanding Securities, the Company may omit to
comply with and shall have no liability in respect of any term, condition or limitation set forth
in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein
to any such covenant or by reason of any reference in any such covenant to any other provision
herein or in any other document and such omission to comply shall not constitute a default or an
Event of Default under Section 501(c), but, except as specified above, the remainder of this
Indenture and such Securities shall be unaffected thereby. In addition, upon the Company’s
exercise under Section 1301 of the option applicable to Section 1303, Sections 501(c) through
501(e) shall not constitute Events of Default.

          Section 1304. Conditions to Defeasance or Covenant Defeasance.

          The following shall be the conditions to application of either Section 1302 or Section 1303 to
the Outstanding Securities:

     (1) The Company shall irrevocably have deposited or caused to be deposited with the
Trustee (or another trustee satisfying the requirements of Section 608 who shall agree to
comply with the provisions of this Article Thirteen applicable to it) as trust funds in
trust for the purpose of making the following payments, specifically pledged as security
for, and dedicated solely to, the benefit of the Holders of such Securities, (A) cash in
U.S. Dollars in an amount, or (B) U.S. Government Obligations (as defined below) which
through the scheduled payment of principal and interest in respect thereof in accordance
with their terms shall provide, not later than one day before the due date of any payment,
cash in U.S. Dollars in an amount, or (C) a combination thereof, sufficient, in the opinion
of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, to pay and discharge and which shall be
applied by the Trustee (or other qualifying trustee) to pay and discharge, (i) the principal
of and interest on the Outstanding Securities due on the Stated Maturity of such principal
or installment of principal or interest and (ii) any mandatory sinking fund payments or
analogous payments applicable to the Outstanding Securities on the day on which such
payments are due and payable in accordance with the terms of this Indenture and of such
Securities; provided that the Trustee shall have been irrevocably instructed to apply such
money or the proceeds of such U.S. Government Obligations to said payments with respect to
the Securities. For this purpose, “U.S. Government Obligations” means securities that are
(x) direct obligations of the United States of America for the timely payment of which its
full faith and credit is pledged or (y) obligations of a Person controlled or supervised by
and acting as an agency or instrumentality of the United States of America the timely
payment of which is unconditionally guaranteed as a full faith and credit obligation by the
United States of America, which, in either case, are not callable or redeemable at the
option of the issuer thereof, and shall also include a depository receipt issued by a bank
(as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such
U.S. Government Obligation or a specific payment of principal of or interest on any such
U.S. Government Obligation held by such custodian for the account of the holder of such
depository receipt; provided that (except as required by law) such custodian is not
authorized to make any deduction from the amount payable to the holder of such depository
receipt from any amount received by the custodian in respect of the U.S.

104

 

Government
Obligation
or the specific payment of principal of or interest on the U.S. Government Obligation
evidenced by such depository receipt;

     (2) No Default or Event of Default with respect to the Securities shall have occurred
and be continuing on the date of such deposit or, insofar as Subsection 501(f) or 501(g) is
concerned, at any time during the period ending on the 91st day after the date of such
deposit (it being understood that this condition shall not be deemed satisfied until the
expiration of such period);

     (3) Such defeasance or covenant defeasance shall not result in a breach or violation
of, or constitute a default under, this Indenture or any other material agreement or
instrument to which the Company is a party or by which it is bound;

     (4) In the case of an election under Section 1302, the Company shall have delivered to
the Trustee an Opinion of Counsel in the United States stating that (x) the Company has
received from, or there has been published by, the Internal Revenue Service a ruling or (y)
since December 14, 2010, there has been a change in the applicable federal income tax law,
in either case, to the effect that, and based thereon such opinion shall confirm that, the
Holders of the Outstanding Securities shall not recognize income, gain or loss for federal
income tax purposes as a result of such defeasance and shall be subject to federal income
tax on the same amounts, in the same manner and at the same times as would have been the
case if such defeasance had not occurred;

     (5) In the case of an election under Section 1303, the Company shall have delivered to
the Trustee an Opinion of Counsel in the United States to the effect that the Holders of the
Outstanding Securities shall not recognize income, gain or loss for federal income tax
purposes as a result of such covenant defeasance and shall be subject to federal income tax
on the same amounts, in the same manner and at the same times as would have been the case if
such covenant defeasance had not occurred;

     (6) In the case of an election under either Section 1302 or 1303, the Company shall
represent to the Trustee that the deposit made by the Company pursuant to its election under
Section 1302 or 1303 was not made by the Company with the intent of preferring the Holders
over other creditors of the Company or with the intent of defeating, hindering, delaying or
defrauding creditors of the Company or others; and

     (7) The Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel in the United States, each stating that all conditions precedent provided
for relating to either the defeasance under Section 1302 or the covenant defeasance under
Section 1303 (as the case may be) have been complied with.

          Section 1305. Deposited Money and U.S. Government Obligations to Be Held in Trust; Other
Miscellaneous Provisions.

          Subject to the provisions of the last paragraph of Section 1003, all money and U.S. Government
Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying
trustee, collectively for purposes of this Section 1305, the “Trustee”) pursuant to

105

 

Section 1304 in respect of the Outstanding Securities shall be held in trust and applied by
the Trustee, in accordance with the provisions of such Securities and this Indenture, to the
payment, either directly or through any Paying Agent (including the Company acting as its own
Paying Agent) as the Trustee may determine, to the Holders of such Securities of all sums due and
to become due thereon in respect of principal and interest, but such money need not be segregated
from other funds except to the extent required by law. Money and U.S. Government Obligations so
held in trust are not subject to Article Thirteen.

          The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the cash or U.S. Government Obligations deposited pursuant to Section 1304
or the principal and interest received in respect thereof other than any such tax, fee or other
charge which by law is for the account of the Holders of the Outstanding Securities.

          Anything in this Article Thirteen to the contrary notwithstanding, the Trustee shall deliver
or pay to the Company from time to time upon Company Request any money or U.S. Government
Obligations held by it as provided in Section 1304 which, in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification thereof delivered to
the Trustee (which may be the opinion delivered under Section 1304(1)), are in excess of the amount
thereof which would then be required to be deposited to effect an equivalent defeasance or covenant
defeasance.

          Section 1306. Reinstatement.

          If the Trustee or Paying Agent is unable to apply any money in accordance with Section 1302 or
1303, as the case may be, by reason of any order or judgment of any court or governmental
authority enjoining, restraining or otherwise prohibiting such application, then the Company’s
obligations under this Indenture and the Securities shall be revived and reinstated as though no
deposit had occurred pursuant to Section 1302 or 1303, as the case may be, until such time as the
Trustee or Paying Agent is permitted to apply all such money in accordance with Section 1302 or
1303, as the case may be; provided, however, that, if the Company makes any payment of principal of
or interest on any Security following the reinstatement of its obligations, the Company shall be
subrogated to the rights of the Holders of such Securities to receive such payment from the money
held by the Trustee or Paying Agent.

* * * * *

106

 

          This Indenture may be signed in any number of counterparts with the same effect as if the
signatures to each counterpart were upon a single instrument, and all such counterparts together
shall be deemed an original of this Indenture.

107

 

          IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as of
the day and year first above written.

	 	 	 	 	 	 	 

	 	 	BBHI
ACQUISITION LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Kevin Watson	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Kevin Watson	 	 
	 

	 	 	 	Title: Senior Vice President
&
Treasurer
	 	 

BBHI Acquisition LLC – Indenture

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as Trustee

 	 
	 	By:  	/s/ Thomas
E. Tabor	 
	 	 	Name:  	Thomas E. Tabor	 
	 	 	Title:  	Vice President	 
	 

BBHI Acquisition LLC – Indenture

 

 

EXHIBIT A

RESTRICTED SUBSIDIARIES

Bresnan Communications, LLC

Bresnan Digital Services, LLC

Bresnan Broadband of Colorado, LLC

Bresnan Broadband of Montana, LLC

Bresnan Broadband of Utah, LLC

Bresnan Broadband of Wyoming, LLC

Bresnan Microwave of Montana, LLC

A-1 

 

EXHIBIT B

FORM OF NOTATION OF GUARANTEE

          For value received, each Guarantor (which term includes any successor Person under the
Indenture) has, jointly and severally, unconditionally guaranteed, to the extent set forth in and
subject to the provisions in the Indenture dated as of December 14, 2010 (the “Indenture”) among
BBHI Acquisition LLC, a Delaware limited liability company (the “Company”) and U.S. Bank National
Association, as trustee (the “Trustee”), (a) the due and punctual payment of the principal of,
premium, if any, and interest on the Securities (as defined in the Indenture), whether at maturity,
by acceleration, redemption or otherwise, and the due and punctual payment of interest on overdue
principal, premium, if any, and interest on the Securities, if lawful (subject in all cases to any
applicable grace periods provided in the Indenture and the Securities), and the due and punctual
performance of all other obligations of the Company to the Holders or the Trustee all in accordance
with the terms of the Indenture and the Securities and (b) in case of any extension of time of
payment or renewal of any Securities or any of such other obligations, the same will be promptly
paid in full when due or performed in accordance with the terms of the extension or renewal,
whether at stated maturity, by acceleration or otherwise. Each Holder, by accepting the same, (a)
agrees to and shall be bound by such provisions and (b) appoints the Trustee attorney-in-fact of
such Holder for such purpose.

          Each Guarantor, and by its acceptance of Securities, each Holder, hereby confirms that it is
the intention of all such parties that the Note Guarantee of such Guarantor not constitute (i) a
fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance
Act, the Uniform Fraudulent Transfer Act or any similar federal, state or foreign law to the extent
applicable to its Note Guarantee or (ii) an unlawful distribution under any applicable state law
prohibiting shareholder distributions by an insolvent subsidiary to the extent applicable to its
Note Guarantee.

[SIGNATURE PAGE FOLLOWS]

B-1 

 

          IN WITNESS HEREOF, each Guarantor has caused this Notation of Guarantee to be signed manually
or by facsimile by its duly authorized officers.

	 	 	 	 	 
	 	[GUARANTORS]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

B-2exv10w1

Exhibit
10.1

Execution Copy

 

 

CREDIT AGREEMENT

dated as of December 14, 2010

among

BBHI ACQUISITION LLC

as the Borrower,

BBHI HOLDINGS LLC,

THE LENDERS PARTY HERETO,

CITIBANK, N.A.,

as Administrative Agent, Collateral Agent and L/C Issuer,

CITIGROUP GLOBAL MARKETS INC.,

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

BARCLAYS CAPITAL,

CREDIT SUISSE SECURITIES (USA) LLC,

and

UBS SECURITIES LLC,

as Joint Lead Arrangers and Joint Bookrunning Managers,

BANK OF AMERICA, N.A.,

as Syndication Agent,

and

BARCLAYS BANK PLC,

CREDIT SUISSE AG,

and

UBS SECURITIES LLC,

as Documentation Agents

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	ARTICLE I
	 	 	 	 
	 
	 	 	 	 	 	 
	DEFINITIONS AND ACCOUNTING MATTERS
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 1.01
	 	Certain Defined Terms	 	 	2	 
	Section 1.02
	 	Other Interpretive Provisions	 	 	38	 
	Section 1.03
	 	Accounting Terms	 	 	39	 
	Section 1.04
	 	Rounding	 	 	39	 
	Section 1.05
	 	Times of Day	 	 	40	 
	Section 1.06
	 	Letter of Credit Amounts	 	 	40	 
	Section 1.07
	 	Currency Equivalents Generally	 	 	40	 
	 
	 	 	 	 	 	 
	ARTICLE II
	 	 	 	 
	 
	 	 	 	 	 	 
	THE COMMITMENTS AND CREDIT EXTENSIONS
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 2.01
	 	The Loans	 	 	40	 
	Section 2.02
	 	Borrowings, Conversions and Continuations of Loans	 	 	41	 
	Section 2.03
	 	Letters of Credit	 	 	43	 
	Section 2.04
	 	Prepayments	 	 	51	 
	Section 2.05
	 	Termination or Reduction of Commitments	 	 	53	 
	Section 2.06
	 	Repayment of Loans	 	 	54	 
	Section 2.07
	 	Interest	 	 	55	 
	Section 2.08
	 	Fees	 	 	56	 
	Section 2.09
	 	Computation of Interest and Fees	 	 	57	 
	Section 2.10
	 	Evidence of Debt	 	 	57	 
	Section 2.11
	 	Payments Generally; Administrative Agent’s Clawback	 	 	57	 
	Section 2.12
	 	Sharing of Payments by Lenders	 	 	59	 
	Section 2.13
	 	Increase in Commitments	 	 	60	 
	Section 2.14
	 	Incremental Term Facility	 	 	62	 
	Section 2.15
	 	Swingline Loans	 	 	63	 
	Section 2.16
	 	Cash Collateral; Defaulting Lenders	 	 	66	 
	 
	 	 	 	 	 	 
	ARTICLE III
	 	 	 	 
	 
	 	 	 	 	 	 
	TAXES, YIELD PROTECTION AND ILLEGALITY
	 	 	 	 
	Section 3.01
	 	Taxes	 	 	69	 
	Section 3.02
	 	Illegality	 	 	71	 
	Section 3.03
	 	Inability to Determine Rates	 	 	72	 
	Section 3.04
	 	Increased Costs; Reserves on Eurodollar Rate Loans	 	 	72	 
	Section 3.05
	 	Compensation for Losses	 	 	74	 
	Section 3.06
	 	Mitigation Obligations; Replacement of Lenders	 	 	74	 

 

 

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	Section 3.07
	 	Survival	 	 	75	 
	 
	 	 	 	 	 	 
	ARTICLE IV
	 	 	 	 
	 
	 	 	 	 	 	 
	GUARANTY
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 4.01
	 	Guaranty	 	 	75	 
	Section 4.02
	 	Rights of Lenders	 	 	75	 
	Section 4.03
	 	Certain Waivers	 	 	76	 
	Section 4.04
	 	Obligations Independent	 	 	76	 
	Section 4.05
	 	Subrogation	 	 	76	 
	Section 4.06
	 	Termination; Reinstatement	 	 	76	 
	Section 4.07
	 	Subordination	 	 	77	 
	Section 4.08
	 	Stay of Acceleration	 	 	77	 
	Section 4.09
	 	Condition of Borrower	 	 	77	 
	Section 4.10
	 	Limitation on Guaranty	 	 	77	 
	Section 4.11
	 	Guaranty Supplements	 	 	78	 
	 
	 	 	 	 	 	 
	ARTICLE V
	 	 	 	 
	 
	 	 	 	 	 	 
	CONDITIONS PRECEDENT
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 5.01
	 	Conditions of Initial Credit Extension	 	 	78	 
	Section 5.02
	 	Conditions to all Credit Extensions	 	 	81	 
	 
	 	 	 	 	 	 
	ARTICLE VI
	 	 	 	 
	 
	 	 	 	 	 	 
	REPRESENTATIONS AND WARRANTIES
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 6.01
	 	Existence, Qualification and Power	 	 	82	 
	Section 6.02
	 	Subsidiaries; Affiliates; Loan Parties	 	 	83	 
	Section 6.03
	 	Authority; No Conflict	 	 	83	 
	Section 6.04
	 	Financial Condition	 	 	83	 
	Section 6.05
	 	Litigation, Compliance with Laws	 	 	84	 
	Section 6.06
	 	Titles and Liens	 	 	84	 
	Section 6.07
	 	Regulation U; Investment Company Act	 	 	85	 
	Section 6.08
	 	Taxes	 	 	85	 
	Section 6.09
	 	Senior Debt	 	 	85	 
	Section 6.10
	 	Full Disclosure	 	 	85	 
	Section 6.11
	 	No Default	 	 	85	 
	Section 6.12
	 	Governmental and Third Party Approvals	 	 	85	 
	Section 6.13
	 	Binding Agreements	 	 	86	 
	Section 6.14
	 	Franchises	 	 	86	 
	Section 6.15
	 	Collective Bargaining Agreements	 	 	86	 
	Section 6.16
	 	ERISA Compliance	 	 	86	 
	Section 6.17
	 	Copyrights	 	 	86	 
	Section 6.18
	 	Solvency	 	 	87	 

ii

 

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	Section 6.19
	 	Casualty, Etc.	 	 	87	 
	Section 6.20
	 	Collateral Documents	 	 	87	 
	Section 6.21
	 	Environmental Compliance	 	 	87	 
	Section 6.22
	 	Other Debt	 	 	88	 
	 
	 	 	 	 	 	 
	ARTICLE VII
	 	 	 	 
	 
	 	 	 	 	 	 
	COVENANTS OF THE LOAN PARTIES
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 7.01
	 	Financial Statements and Other Information	 	 	89	 
	Section 7.02
	 	Taxes and Claims	 	 	91	 
	Section 7.03
	 	Insurance	 	 	91	 
	Section 7.04
	 	Maintenance of Existence; Conduct of Business	 	 	91	 
	Section 7.05
	 	Maintenance of and Access to Properties	 	 	92	 
	Section 7.06
	 	Compliance with Applicable Laws	 	 	92	 
	Section 7.07
	 	Litigation	 	 	92	 
	Section 7.08
	 	Subsidiaries	 	 	92	 
	Section 7.09
	 	Books and Records	 	 	93	 
	Section 7.10
	 	Franchises	 	 	93	 
	Section 7.11
	 	Use of Proceeds	 	 	93	 
	Section 7.12
	 	Covenant to Guarantee Obligations and Give Security	 	 	94	 
	Section 7.13
	 	Further Assurances	 	 	95	 
	Section 7.14
	 	Interest Rate Hedging	 	 	95	 
	Section 7.15
	 	Designation as Senior Debt	 	 	95	 
	Section 7.16
	 	Maintenance of Ratings	 	 	95	 
	Section 7.17
	 	Indebtedness	 	 	96	 
	Section 7.18
	 	Contingent Liabilities	 	 	97	 
	Section 7.19
	 	Liens	 	 	99	 
	Section 7.20
	 	Investments	 	 	100	 
	Section 7.21
	 	Fundamental Changes	 	 	102	 
	Section 7.22
	 	Dispositions	 	 	103	 
	Section 7.23
	 	Restricted Payments	 	 	105	 
	Section 7.24
	 	Change in Nature of Business	 	 	106	 
	Section 7.25
	 	Transactions with Affiliates	 	 	106	 
	Section 7.26
	 	Burdensome Agreements	 	 	107	 
	Section 7.27
	 	Prepayments, Etc. of Indebtedness	 	 	108	 
	Section 7.28
	 	Amendments of Certain Documents	 	 	108	 
	Section 7.29
	 	Accounting Changes	 	 	108	 
	Section 7.30
	 	Activities of Holdings	 	 	109	 
	Section 7.31
	 	Operating Cash Flow to Total Interest Expense	 	 	109	 
	Section 7.32
	 	Cash Flow Ratio	 	 	109	 
	Section 7.33
	 	Minimum Liquidity	 	 	110	 
	Section 7.34
	 	Equity Cure	 	 	110	 

iii

 

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	ARTICLE VIII
	 	 	 	 
	 
	 	 	 	 	 	 
	EVENTS OF DEFAULT AND REMEDIES
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 8.01
	 	Events of Default	 	 	110	 
	Section 8.02
	 	Remedies upon Event of Default	 	 	113	 
	Section 8.03
	 	Application of Funds	 	 	114	 
	 
	 	 	 	 	 	 
	ARTICLE IX
	 	 	 	 
	 
	 	 	 	 	 	 
	THE ADMINISTRATIVE AGENT
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 9.01
	 	Appointment and Authority	 	 	115	 
	Section 9.02
	 	Administrative Agent Individually	 	 	116	 
	Section 9.03
	 	Duties of Administrative Agent; Exculpatory Provisions	 	 	117	 
	Section 9.04
	 	Reliance by Administrative Agent	 	 	118	 
	Section 9.05
	 	Delegation of Duties	 	 	118	 
	Section 9.06
	 	Resignation of Administrative Agent	 	 	118	 
	Section 9.07
	 	Non-Reliance on Administrative Agent and Other Lender Parties	 	 	120	 
	Section 9.08
	 	No Other Duties, etc	 	 	121	 
	Section 9.09
	 	Administrative Agent May File Proofs of Claim	 	 	121	 
	Section 9.10
	 	Collateral and Guaranty Matters	 	 	122	 
	Section 9.11
	 	Removal of Administrative Agent	 	 	122	 
	 
	 	 	 	 	 	 
	ARTICLE X
	 	 	 	 
	 
	 	 	 	 	 	 
	MISCELLANEOUS
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 10.01
	 	Amendments, Etc	 	 	123	 
	Section 10.02
	 	Notices; Effectiveness; Electronic Communications; Confidentiality	 	 	124	 
	Section 10.03
	 	No Waiver; Cumulative Remedies	 	 	130	 
	Section 10.04
	 	Expenses; Indemnity; Damage Waiver	 	 	130	 
	Section 10.05
	 	Payments Set Aside	 	 	132	 
	Section 10.06
	 	Successors and Assigns	 	 	133	 
	Section 10.07
	 	Right of Setoff	 	 	137	 
	Section 10.08
	 	Interest Rate Limitation	 	 	138	 
	Section 10.09
	 	Counterparts; Integration; Effectiveness	 	 	138	 
	Section 10.10
	 	Survival of Representations and Warranties	 	 	138	 
	Section 10.11
	 	Severability	 	 	138	 
	Section 10.12
	 	Replacement of Lenders	 	 	138	 
	Section 10.13
	 	Governing Law; Jurisdiction; Etc	 	 	139	 
	Section 10.14
	 	Waiver of Jury Trial	 	 	140	 
	Section 10.15
	 	No Advisory or Fiduciary Responsibility	 	 	140	 
	Section 10.16
	 	USA PATRIOT Act Notice	 	 	141	 
	Section 10.17
	 	No Liability of Members, Partners and Other Persons	 	 	141	 

iv

 

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	Section 10.18
	 	Authorization of Third Parties to Deliver Information and Discuss Affairs	 	 	142	 

v

 

	 	 	 
	Schedules:	 	 
	 
	 	 
	Schedule 1.01(i)
	 	Restricted Subsidiaries
	Schedule 1.01(ii)
	 	Unrestricted Subsidiaries
	Schedule 1.01(iii)
	 	Guarantors
	Schedule 2.01
	 	Lender Commitments
	Schedule 6.02
	 	Affiliates
	Schedule 6.03
	 	Regulatory Approvals and Consents
	Schedule 6.05
	 	Litigation
	Schedule 6.06
	 	Owned Material Real Property
	Schedule 6.14
	 	Franchises
	Schedule 6.17
	 	Owned Copyrights
	Schedule 6.21
	 	Environmental Compliance
	Schedule 7.13
	 	Mortgage Matters
	Schedule 7.17
	 	Existing Indebtedness
	Schedule 7.18
	 	Existing Guarantees
	Schedule 7.19
	 	Existing Liens
	Schedule 7.20
	 	Investments
	Schedule 7.25
	 	Transactions with Affiliates
	Schedule 10.02
	 	Notices

	 	 	 
	Exhibits:	 	 
	 
	 	 
	Exhibit A
	 	Form of Committed Loan Notice
	Exhibit B-1
	 	Form of Term B Note
	Exhibit B-2
	 	Form of Revolving Credit Note
	Exhibit B-3
	 	Form of Swingline Note
	Exhibit C
	 	Form of Compliance Certificate
	Exhibit D-1
	 	Form of Certificate as to Quarterly Financial Statements
	Exhibit D-2
	 	Form of Certificate as to Annual Financial Statements
	Exhibit E
	 	Form of Loan Certificate
	Exhibit F-1
	 	Form of Opinion of Special New York Counsel to the Borrower and the Restricted Subsidiaries
	Exhibit F-2
	 	Form of Opinion of Special Counsel to the Borrower and the Restricted Subsidiaries
	Exhibit G
	 	Form of Incremental Term Supplement
	Exhibit H
	 	Form of Assignment and Assumption Agreement
	Exhibit I
	 	Form of Assumption Agreement
	Exhibit J
	 	Form of Subsidiary Guaranty Supplement
	Exhibit K
	 	Form of Mortgage

vi

 

CREDIT AGREEMENT

CREDIT AGREEMENT dated as of December 14, 2010 (this “Agreement”) among BBHI Acquisition
LLC, a Delaware limited liability company (“Acquisition Sub” and immediately prior to the
consummation of the Merger (as hereinafter defined), the “Borrower”), BBHI Holdings LLC, a
Delaware limited liability company (“Holdings”), the lenders that are parties hereto,
together with their respective successors and assigns, Citibank, N.A. (“Citibank”), as
Administrative Agent, Collateral Agent and L/C Issuer, Citigroup Global Markets Inc.
(“CGMI”), Merrill Lynch, Pierce, Fenner & Smith Incorporated, (“Merrill
Lynch”), Barclays Capital, the investment banking division of Barclays Bank PLC, Credit Suisse
Securities (USA) LLC and UBS Securities LLC, as joint lead arrangers (in such capacity, “Joint
Lead Arrangers”) and joint bookrunning managers (in such capacity, “Joint Bookrunning
Managers”).

PRELIMINARY STATEMENTS:

          WHEREAS, Holdings intends to acquire (the “Acquisition”) all of the equity interests
of Bresnan Broadband Holdings, LLC, a Delaware limited liability company (the “Company” and, upon
and after consummation of the Merger, the “Borrower”) from the existing equityholders of the
Company through the merger of Acquisition Sub with and into the Company, with the Company being the
surviving entity (the “Merger”). To effect the Acquisition, Holdings will contribute at
least $300,000,000 in cash to the common equity of Acquisition Sub (the “Equity
Contribution”). In connection with the Acquisition and pursuant to the Agreement and Plan of
Merger, dated as of June 13, 2010, among the Company, Providence Equity Bresnan Cable LLC,
Holdings, Acquisition Sub and solely for purposes of Sections 5.4(c) and 8.2(d) thereof, CSC
Holdings, LLC (the “Merger Agreement”), the Merger will be consummated.

          WHEREAS, immediately after the Merger, the Company will assume by operation of law and
pursuant to the Assumption Agreement all of the Obligations (as hereinafter defined) of Acquisition
Sub under the Loan Documents (as hereinafter defined) (and all references herein and in the other
Loan Documents to the “Borrower” shall thereupon be deemed to be references to the Company) and the
Subsidiary Guarantors (as hereinafter defined) shall become parties to this Agreement pursuant to a
Subsidiary Guaranty Supplement.

          WHEREAS, the Borrower has requested that simultaneously with the consummation of the
Acquisition, the Lenders (a) extend credit to the Borrower in the amount of $765,000,000 under the
Term Facility (as hereinafter defined) and (b) make available to the Borrower from time to time a
Revolving Credit Facility in the amount of $75,000,000.

          WHEREAS, in connection with the Acquisition, the Borrower intends to (i) issue and sell Senior
Notes (as hereinafter defined) on or before the Closing Date (as hereinafter defined) with an
aggregate principal amount of at least $250,000,000 or (ii) if and to the extent the Borrower does
not, or is unable to, issue the Senior Notes with an aggregate principal amount of at least
$250,000,000 on or before the Closing Date, obtain at least $250,000,000, less the aggregate
principal amount of the Senior Notes, if any, issued on or before the Closing Date, in loans under
a bridge facility made available to the Borrower.

 

 

          NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto covenant and agree as
follows:

ARTICLE I

DEFINITIONS AND ACCOUNTING MATTERS

          Section 1.01 Certain Defined Terms. As used herein, the following terms shall have
the following meanings:

          “Acquisition” has the meaning given to such term in the Preliminary Statements hereto.

          “Acquisition Sub” has the meaning given to such term in the preamble hereto.

          “Activities” has the meaning given to such term in Section 9.02(b).

          “Administrative Agent” means Citibank, N.A. in its capacity as administrative agent
for the Lenders hereunder and its successors in such capacity.

          “Administrative Agent’s Office” means the Administrative Agent’s address and, as
appropriate, account as set forth on Schedule 10.02, or such other address or account as
the Administrative Agent may from time to time notify to the Borrower and the Lenders.

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

          “Affiliate” means, as to any Person, any other Person which directly or indirectly
controls, or is under common control with, or is controlled by, such Person. As used in this
definition, “control” (including, with its correlative meanings, “controlled by”
and “under common control with”) means possession, directly or indirectly, of the power to
direct or cause the direction of management or policies (whether through ownership of securities or
partnership or other ownership interests, by contract or otherwise), provided that, in any
event, any Person which owns directly or indirectly 10% or more of the securities having ordinary
voting power for the election of directors or other governing body of a corporation or 10% or more
of the partnership or other ownership interests of any other Person (other than as a limited
partner of such other Person) will be deemed to control such corporation or other Person; and
provided further that no individual shall be an Affiliate of a Person solely by
reason of his or her being an officer, director, manager, member or partner of such Person, except
in the case of a partner or member if his or her interests in such partnership or limited liability
company, as applicable, shall qualify him or her as an Affiliate.

          “Agent’s Group” has the meaning given to such term in Section 9.02(b).

          “Aggregate Commitments” means the Commitments of all the Lenders.

          “Agreement” has the meaning given to such term in the preamble hereto.

2

 

          “Annual Operating Cash Flow” means, as of any date, Operating Cash Flow for the period
of four consecutive Quarters covered by the then most recent Compliance Certificate delivered to
the Lenders pursuant to Section 7.01(d).

          “Applicable Percentage” means (a) in respect of the Term B Facility, with respect to
any Term B Lender at any time, the percentage (carried out to the tenth decimal place) of the Term
B Facility represented by (i) on or prior to the Closing Date, such Term B Lender’s Term B
Commitment at such time and (ii) thereafter, the principal amount of such Term B Lender’s Term B
Loans at such time, (b) in respect of an Incremental Term Facility, with respect to any Incremental
Term Lender at any time, the percentage (carried out to the ninth decimal place) of the Incremental
Term Facility represented by the principal amount of such Incremental Term Lender’s Incremental
Term Loans at such time and (c) in respect of the Revolving Credit Facility, with respect to any
Revolving Credit Lender at any time, the percentage (carried out to the ninth decimal place) of the
Revolving Credit Facility represented by such Revolving Credit Lender’s Revolving Credit Commitment
at such time. If the commitment of each Revolving Credit Lender to make Revolving Credit Loans and
the obligation of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to
Section 8.02, or if the Revolving Credit Commitments have expired, then the Applicable
Percentage of each Revolving Credit Lender in respect of the Revolving Credit Facility shall be
determined based on the Applicable Percentage of such Revolving Credit Lender in respect of the
Revolving Credit Facility most recently in effect, giving effect to any subsequent assignments.
The initial Applicable Percentage of each Lender in respect of each Facility is set forth opposite
the name of such Lender on Schedule 2.01 (or, in the case of any Incremental Term Lender,
on Schedule I to an Incremental Term Supplement, if any) or in the Assignment and Assumption
pursuant to which such Lender becomes a party hereto, as applicable.

          “Applicable Rate” means, with respect to the Term B Facility and the Revolving Credit
Facility, from time to time, (a) 3.00% per annum for Eurodollar Rate Loans and (b) 2.00% per annum
for Base Rate Loans.

          “Applicable Revolving Credit Percentage” means with respect to any Revolving Credit
Lender at any time, such Revolving Credit Lender’s Applicable Percentage in respect of the
Revolving Credit Facility at such time.

          “Appropriate Lender” means, at any time, (a) with respect to any of the Term B
Facility, the Revolving Credit Facility or the Incremental Term Facility, if any, a Lender that has
a Commitment with respect to such Facility or holds a Term B Loan, a Revolving Credit Loan or an
Incremental Term Loan, if any, respectively, at such time, (b) with respect to the Swingline
Sublimit, the Swingline Lender, and (c) with respect to the Letter of Credit Sublimit, (i) the L/C
Issuer and (ii) if any Letters of Credit have been issued pursuant to Section 2.03(a), the
Revolving Credit Lenders.

          “Approved Electronic Communications” means, for purposes of identifying all
Communications which may be made on the Approved Electronic Platform, each Communication that any
Loan Party is obligated to, or otherwise chooses to, provide to the Administrative Agent pursuant
to any Loan Document or the transactions contemplated therein, including any financial statement,
financial or other report, notice, request, certificate or other

3

 

information material; provided, however, that, solely with respect to delivery
of any such Communication by any Loan Party to the Administrative Agent and without limiting or
otherwise affecting either the Administrative Agent’s right to effect delivery of such
Communication by posting such Communication to the Approved Electronic Platform or the protections
afforded hereby to the Administrative Agent in connection with any such posting, “Approved
Electronic Communication” shall exclude (i) any notice of borrowing, letter of credit request,
swingline loan request, notice of conversion or continuation, and any other notice, demand,
communication, information, document or other material relating to a request for a new, or a
conversion of an existing, Borrowing, (ii) any notice pursuant to Section 2.04(a) and
Section 2.04(b) and any other notice relating to the payment of any principal or other
amount due under any Loan Document prior to the scheduled date therefor, (iii) all notices of any
Default or Event of Default and (iv) any notice, demand, communication, information, document or
other material required to be delivered to satisfy any of the conditions set forth in Article
V or any other condition to any Borrowing or other extension of credit hereunder or any
condition precedent to the effectiveness of this Agreement (provided that, for avoidance of
doubt any such excluded Communication listed in clause (i) through clause (iv) may be made by
electronic mail as provided in Section 10.02(b)(iv)).

          “Approved Electronic Platform” has the meaning given to such term in Section
10.02(d).

          “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 10.06(b)), and accepted by the Administrative Agent, in substantially the form of
Exhibit H or any other form approved by the Administrative Agent.

          “Assumption Agreement” means the Assumption Agreement dated as of the date hereof,
among the Company and Acquisition Sub, substantially in the form of Exhibit I, or otherwise
in form and substance reasonably acceptable to the Administrative Agent.

          “Availability Period” means in respect of the Revolving Credit Facility, the period
from and including the Closing Date to the earliest of (i) the Maturity Date for the Revolving
Credit Facility, (ii) the date of termination of the Revolving Credit Commitments pursuant to
Section 2.05, and (iii) the date of termination of the commitment of each Revolving Credit
Lender to make Revolving Credit Loans and of the obligation of the L/C Issuer to make L/C Credit
Extensions pursuant to Section 8.02.

          “Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a)
the Federal Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as
publicly announced from time to time by Citibank as its “prime rate” and (c) the Eurodollar Rate

4

 

that would be payable on such day for a Eurodollar Rate Loan with a one-month interest period
plus 1%. The “prime rate” is a rate set by Citibank based upon various factors including
Citibank’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 Citibank shall take effect at the opening of business
on the day specified in the public announcement of such change.

          “Base Rate Loan” means a Revolving Credit Loan, a Term B Loan, a Swingline Loan or an
Incremental Term Loan, if any, that bears interest based on the Base Rate.

          “Borrower” has the meaning given to such term in the preamble hereto.

          “Borrowing” means a Revolving Credit Borrowing, a Term B Borrowing, a Swingline
Borrowing or an Incremental Term Borrowing, if any, as the context may require.

          “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 of
New York and, if such day relates to any Eurodollar Rate Loan, means any such day on which dealings
in Dollar deposits are conducted by and between banks in the London interbank eurodollar market.

          “Cablevision” means Cablevision Systems Corporation, a Delaware corporation.

          “Capital Expenditures” means, with respect to any Person for any period, any
expenditure in respect of the purchase or other acquisition of any fixed or capital asset
(excluding normal expenditures for replacements and maintenance which are properly charged to
current operations). For purposes of this definition, the purchase price of equipment that is
purchased simultaneously with the trade-in of existing equipment or with insurance proceeds shall
be included in Capital Expenditures only to the extent of the gross amount by which such purchase
price exceeds the credit granted by the seller of such equipment for the equipment being traded in
at such time or the amount of such insurance proceeds, as the case may be. The term “Capital
Expenditures” shall not include (a) any Permitted Acquisition, (b) capital expenditures in respect
of the reinvestment of proceeds from a Disposition or an Event of Loss in accordance with the terms
of Section 2.04(b)(ii), (c) expenditures made and financed solely with the proceeds from
issuances of Equity Interests or (d) expenditures made with the proceeds of landlord allowances and
advances.

          “Capital Lease Obligations” means, as to any Person, the obligations of such Person to
pay rent or other amounts under a Lease of (or other agreement conveying the right to use) real
and/or personal property, which obligations are required to be classified and accounted for as a
capital lease on a balance sheet of such Person under GAAP and, for purposes of this Agreement, the
amount of such obligations shall be the capitalized amount thereof, determined in accordance with
GAAP.

          “Cash Collateral” has the meaning given to such term in Section 2.03(g).

          “Cash Collateralize” has the meaning given to such term in Section 2.03(g).

5

 

          “Cash Equivalents” means any of the following types of Investments, to the extent
owned by the Borrower or any of its Restricted Subsidiaries free and clear of all Liens (other than
Liens created under the Collateral Documents and other Liens permitted hereunder):

     (a) marketable, direct obligations of the United States of America maturing within 397
days of the date of purchase;

     (b) commercial paper outstanding at any time issued by any Person organized under the
laws of any state of the United States of America, which Person shall have a consolidated
net worth of at least $250,000,000 and shall conduct a substantial part of its business in
the United States of America, maturing within 180 days from the date of the original issue
thereof, and rated “P-1” or better by Moody’s or “A-1” or better by S&P;

     (c) fully collateralized repurchase agreements in such amounts and with such financial
institutions having a rating of “Baa” or better from Moody’s, or a rating of “A-” or better
from S&P, as the Borrower may select from time to time;

     (d) certificates of deposit, banker’s acceptances and time deposits maturing within 397
days after the date of purchase, which are issued by any Lender or by a United States
national or state bank or foreign bank having capital, surplus and undivided profits
totaling more than $100,000,000, and having a rating of “Baa” or better from Moody’s or a
rating of “A-” or better from S&P;

     (e) money market funds that (i) comply with the criteria set forth in SEC Rule 2a-7
under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s and
(iii) have portfolio assets of at least $3,000,000,000;

     (f) repurchase obligations of any Lender or of any commercial bank satisfying
the requirements of clause (d) of this definition, having a term of not more than thirty
days, with respect to securities issued or fully guaranteed or insured by the United States
government;

     (g) obligations of any State, commonwealth or territory of the United States or any
political subdivision thereof for the payment of the principal and redemption price of and
interest on which there shall have been irrevocably deposited the government obligations
described in clause (a) of this definition maturing as to principal and interest at times
and in amounts sufficient to provide such payment;

     (h) auction preferred stock rated in the highest short-term credit rating category by
S&P or Moody’s;

     (i) securities with maturities of six months or less from the date of acquisition
backed by standby letters of credit issued by any Lender or any commercial bank satisfying
the requirements of clause (b) of this definition);

     (j) money market mutual or similar funds that invest exclusively in assets satisfying
the requirements of clauses (a) through (i) of this definition.

6

 

          “Cash Flow Ratio” means as of any date, the ratio of (i) the sum of the aggregate
outstanding principal amount of all Indebtedness of the Borrower and the Restricted Subsidiaries
outstanding on such date (determined on a consolidated basis) plus (but without duplication
of Indebtedness supported by Letters of Credit) the aggregate undrawn face amount of all L/C
Obligations outstanding on such date to (ii) Annual Operating Cash Flow (and any change in such
ratio as a result of a change in the amount of Indebtedness or Letters of Credit shall be effective
as of the date such change shall occur and any change in such ratio as a result of a change in the
amount of Annual Operating Cash Flow shall be effective as of the date of receipt by the
Administrative Agent of the Compliance Certificate delivered pursuant to Section 7.01(d),
reflecting such change). Notwithstanding the foregoing, for purposes of calculating the Cash Flow
Ratio, there shall be excluded from Indebtedness, to the extent otherwise included as Indebtedness,
(A) any deferred or contingent obligation to pay the consideration for an Investment not prohibited
by Section 7.20 to the extent such obligation can be satisfied with the delivery of Parent
Company Stock and the Borrower covenants and agrees in a notice to the Administrative Agent that
such obligation shall be satisfied solely by the delivery of such Parent Company Stock; (B) any
deferred purchase price in connection with any acquisition not prohibited by Section 7.20
to the extent that the obligations in respect of such deferred purchase price consist solely of an
agreement to deliver Parent Company Stock; (C) all obligations under any interest rate Swap
Contract or any Monetization Indebtedness; and (D)(x) all obligations under any Guarantee permitted
under Section 7.18(j) and (y) all obligations under any Guarantee not prohibited by
Section 7.18 so long as the obligations under such Guarantees referred to in this clause
(y) are payable, solely at the option of the Borrower, in Parent Company Stock and the Borrower
covenants and agrees in a notice to the Administrative Agent that such obligation shall be
satisfied solely by the delivery of such Parent Company Stock.

          “Cash Management Agreement” means any agreement to provide cash management services,
including treasury, depository, overdraft, credit or debit card, electronic funds transfer and
other cash management arrangements.

          “Cash Management Bank” means any Person that, at the time it enters into a Cash
Management Agreement, is a Lender or an Affiliate of a Lender, in its capacity as a party to such
Cash Management Agreement.

          “CFC” means a Person that is a controlled foreign corporation under Section 957 of the
Code.

          “CGMI” has the meaning given to such term in the preamble hereto.

          “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.

          “Citibank” has the meaning given to such term in the preamble hereto.

7

 

          “Closing Date” means the first date all the conditions precedent in Section
5.01 are satisfied or waived in accordance with Section 10.01.

          “Closing Date Material Adverse Effect” means any effect that (a) is materially adverse
to the business, results of operations, financial condition, cash flows, assets or liabilities of
the Borrower and the Subsidiaries, taken as a whole, excluding any such effect to the extent
resulting from or arising out of: (i) any actual or proposed Change in Law after the date of the
Merger Agreement or GAAP or any other accounting standards or interpretations thereof applicable
to the Borrower and the Subsidiaries or the Business (as defined in the Merger Agreement); (ii) any
change in international, national, regional, local or industry-wide economic or business conditions
(including financial and capital market conditions); (iii) changes or conditions generally
affecting the multichannel video programming, high-speed data or telephony industries; (iv) any
attack on, or by, outbreak or escalation of hostilities or acts of war, sabotage or terrorism or
natural disasters or any other national or international calamity; (v) conditions generally
affecting or related to attributes of Holdings, Acquisition Sub or their Affiliates (other than any
such conditions covered by any other clauses in this definition) or otherwise attributable to
actions taken by Holdings, Acquisition Sub or their Affiliates, including any violation of the
terms of the Merger Agreement by Holdings or Acquisition Sub, provided that any such
violation that is material to the interests of the Lenders has been consented to by CGMI and
Merrill Lynch, (vi) the execution of the Merger Agreement or the announcement of the Sale Process
(as defined in the Merger Agreement) or the Merger, or the pendency of the Merger (including any
loss of, or adverse change in, the relationship of the Borrower and/or the Subsidiaries with their
employees, customers, distributors, partners or suppliers or any other Persons with whom they
transact business that is proximately caused thereby); or (vii) any failure by the Borrower or any
of the Subsidiaries, in and of itself, to meet any internal or published projections, forecasts or
predictions of revenues, earnings or cash flows for any period (although this clause (vii) shall
not apply to the facts and circumstances that may have given rise or contributed to any such
failure); provided, however, that notwithstanding the foregoing, clauses (i), (ii),
(iii) and (iv) shall not apply to the extent that the adverse effect on the Borrower and/or the
Subsidiaries resulting from or arising out of the matters described therein is materially
disproportionate to the adverse effects on other participants in the multichannel video
programming, high-speed data or telephony industries in the United States or (b) would prevent the
Borrower from consummating the transactions contemplated hereby.

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

          “Collateral” means all of the “Collateral” referred to in the Collateral
Documents and all of the other property that is or is intended under the terms of the Collateral
Documents to be subject to Liens in favor of the Administrative Agent for the benefit of the
Secured Parties.

          “Collateral Agent” means Citibank in its capacity as collateral agent for the Lenders
under the Collateral Documents and its successors in such capacity.

          “Collateral Documents” means, collectively, the Security Agreement, the Pledge
Agreement, the Mortgages and each of the other agreements, instruments or documents that creates or
purports to create a Lien in favor of the Administrative Agent for the benefit of the Secured
Parties.

8

 

          “Committed Loan Notice” means a notice of (a) a Term Borrowing, (b) a Revolving Credit
Borrowing, (c) a Swingline Borrowing, (d) a conversion of Loans from one Type to the other, or (e)
a continuation of Eurodollar Rate Loans, pursuant to Section 2.02(a), which, if in writing,
shall be substantially in the form of Exhibit A.

          “Commitment” means a Term B Commitment, a Revolving Credit Commitment or an
Incremental Term Commitment, if any, as the context may require.

          “Commitment Fee” has the meaning given to such term in Section 2.08(a) hereof.

          “Communications” means each notice, demand, communication, information, document and
other material provided for hereunder or under any other Loan Document or otherwise transmitted
between the parties hereto relating to this Agreement, the other Loan Documents, any Loan Party or
its Affiliates, or the transactions contemplated by this Agreement or the other Loan Documents
including, without limitation, all Approved Electronic Communications.

          “Company” has the meaning given to such term in the Preliminary Statements hereto.

          “Compliance Certificate” means a certificate of a senior financial executive of the
Borrower in substantially the form of Exhibit C hereto.

          “Consolidated Total Secured Debt” means, as of any date of determination, the sum of,
without duplication, (i) the aggregate outstanding principal amount of all Indebtedness of the
Borrower and the Restricted Subsidiaries outstanding on such date (determined on a consolidated
basis) plus (ii) (but without duplication of Indebtedness supported by Letters of Credit)
the aggregate undrawn face amount of all L/C Obligations outstanding on such date, in the case of
each of clauses (i) and (ii), to the extent secured by a Lien on any assets of the Borrower or any
Subsidiary thereof.

          “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 legally 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.

          “Copyright Licenses” means any agreement, whether written or oral, providing for the
grant by or to a Person of any right under any Copyright.

          “Copyrights” means all copyrights in all works, now existing or hereafter created or
acquired, all registrations and recordings thereof, and all applications in connection therewith,
whether in the United States Copyright Office or in any similar office or agency of the United
States, any state thereof or any other country or any political subdivision thereof, or otherwise.

9

 

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

          “Cumulative Operating Cash Flow” means an amount, determined on the date of any
proposed Restricted Payment, as applicable, equal to Operating Cash Flow for the period from
January 1, 2011 through the end of the most recently ended Quarter as to which financial statements
have been delivered pursuant to Section 7.01.

          “Cumulative Total Interest Expense” means for the period from January 1, 2011 through
the end of the most recently ended Quarter as to which financial statements have been delivered
pursuant to Section 7.01, the aggregate of the interest expense of the Borrower and its
Restricted Subsidiaries for such period, determined on a consolidated basis in accordance with
GAAP.

          “Current Assets” means, with respect to any Person, all assets of such Person that, in
accordance with GAAP, would be classified as current assets on the balance sheet of such Person,
other than current assets under derivative contracts and similar instruments.

          “Current Liabilities” means, with respect to any Person, all liabilities of such
Person that, in accordance with GAAP, would be classified as current liabilities on the balance
sheet of such Person, other than the current portion of Indebtedness and current liabilities under
derivative contracts and similar instruments.

          “CSC Holdings” means CSC Holdings, LLC, a Delaware limited liability company.

          “Debt Instruments” means, collectively, the respective notes and debentures
evidencing, and indentures and other agreements governing, any Indebtedness.

          “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 Eurodollar Rate Loan, the Default Rate shall be an interest
rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan
plus 2% per annum and (b) when used with respect to Letter of Credit Fees, a rate equal to
the Applicable Rate plus 2% per annum.

          “Defaulting Lender” means, at any time, a Lender as to which the Administrative Agent
has notified the Borrower that (i) such Lender has failed for three Business Days or more

10

 

to comply with its obligations under this Agreement to make a Loan or make a payment to the L/C
Issuer in respect of an L/C Obligation or make a payment to the Swingline Lender in respect of a
Swingline Loan (each a “funding obligation”), or (ii) such Lender has notified the
Administrative Agent, or has stated publicly, that it will not comply with any such funding
obligation, or (iii) a Lender Insolvency Event has occurred and is continuing with respect to such
Lender (provided that neither the reallocation of funding obligations provided for in
Section 2.16(b) as a result of a Lender being a Defaulting Lender nor the performance by
Non-Defaulting Lenders of such reallocated funding obligations shall by themselves cause the
relevant Defaulting Lender to become a Non-Defaulting Lender). Any determination that a Lender is
a Defaulting Lender under clauses (i) through (iii) above shall be made by the Administrative Agent
in its reasonable discretion acting in good faith. The Administrative Agent will promptly send to
all parties hereto a copy of any notice to the Borrower referred to above.

          “Disposition” or “Dispose” means the sale, transfer, license, lease or other
disposition (including any sale and leaseback transaction) of any property by any Person (or the
granting of any option or other right to do any of the foregoing), 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; provided that the term Disposition specifically
excludes (i) the sale, transfer, license, lease or other disposition of obsolete or worn out
property, whether now owned or hereafter acquired, in the ordinary course of business, (ii) the
sale, transfer, license, lease or other disposition of receivables, inventory and other current
assets in the ordinary course of business; (iii) the sale, transfer, license, lease or other
disposition of property by any Restricted Subsidiary to the Borrower or to another Restricted
Subsidiary; provided that if the transferor of such property is a Guarantor, the transferee
thereof must either be the Borrower or a Guarantor; and (iv) the sale, transfer, license, lease or
other disposition of property permitted by Section 7.22(a) through (g) and
(k) through (p).

          “Dolan” means Charles F. Dolan.

          “Dolan Family Interests” means (i) any Dolan Family Member, (ii) any trusts for the
benefit of any Dolan Family Members, (iii) any estate or testamentary trust of any Dolan Family
Member for the benefit of any Dolan Family Members, (iv) any executor, administrator, conservator
or legal or personal representative of any Person or Persons specified in clauses (i), (ii) and
(iii) above to the extent acting in such capacity on behalf of any Dolan Family Member or Members
and not individually and (v) any corporation, partnership, limited liability company or other
similar entity, in each case 80% of which is owned and controlled by any of the foregoing or
combination of the foregoing.

          “Dolan Family Members” means Dolan, his spouse, his descendants and any spouse of any
of such descendants.

          “Dollars” and “$” means lawful money of the United States of America.

          “Domestic Subsidiary” shall mean any Subsidiary that is organized and existing under
the laws of the United States or any state or commonwealth thereof or under the laws of the
District of Columbia.

11

 

          “Eligible Assignee” means (a) with respect to any assignment of any Revolving Credit
Commitment or Revolving Credit Loan, (i) a Revolving Credit Lender, (ii) an Affiliate of a
Revolving Credit Lender, and (iii) any other Person (other than a natural person) approved by (A)
the Administrative Agent, (B) in the case of any assignment of a
Revolving Credit Commitment, the
Swingline Lender and the L/C Issuer, and (C) unless an Event of Default has occurred and is
continuing, the Borrower (each such approval not to be unreasonably withheld or delayed) and (b)
with respect to any assignment of any Term Commitment or Term Loan, (i) a Lender, (ii) an Affiliate
of a Lender, (iii) an Approved Fund, (iv) any other Person (other than a natural person) approved
by (A) the Administrative Agent, and (B) unless an Event of Default has occurred and is continuing,
the Borrower (each such approval not to be unreasonably withheld or delayed) and (v) with respect
to any Term Loan, the Borrower or any of the Borrower’s Affiliates or Subsidiaries;
provided that, none of the Borrower or any of the Borrower’s Affiliates or Subsidiaries
holding Term Loans shall have any right to (i) attend (including by telephone) any meeting or
discussions (or portion thereof) among the Administrative Agent or any Lender to which
representatives of the Borrower are not then present or (ii) receive any information or material
prepared by the Administrative Agent or any Lender or any communication by or among Administrative
Agent and one or more Lenders, except to the extent such information or materials have been made
available to the Borrower or its representatives.

          “Environmental Laws” means any and all Federal, state, local, and foreign 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.

          “Equity Contribution” has the meaning given to such term in the Preliminary Statements
hereto.

          “Equity Interests” means, with respect to any Person, any of the shares of capital
stock of (or other ownership or profit interests in) such Person, any 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, any 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 any 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.

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

          “ERISA Affiliate” means, when used with respect to a Plan, ERISA, the PBGC or a
provision of the Code pertaining to employee benefit plans, any Person that is a member of any
group of organizations within the meaning of Sections 414(b), (c), (m) or (o) of the Code of which
the Borrower is a member.

12

 

          “Eurodollar Base Rate” has the meaning given to such term in the definition of
Eurodollar Rate.

          “Eurodollar Rate” means for any Interest Period with respect to a Eurodollar Rate
Loan, a rate per annum equal to the higher of (a) 1.50% and (b) the rate determined by the
Administrative Agent pursuant to the following formula:

	 	 	 	 	 

	Eurodollar Rate =

	 	Eurodollar Base Rate
 

1.00 – Eurodollar Reserve Percentage
	 	   

Where,

          “Eurodollar Base Rate” means, for such Interest Period, the rate per annum equal to
the British Bankers Association LIBOR Rate (“BBA LIBOR”), appearing on Reuters LIBOR01 page
(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 Dollar deposits (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 “Eurodollar Base Rate” for such Interest Period
shall be the rate per annum determined by the Administrative Agent to be the rate at which deposits
in Dollars for delivery on the first day of such Interest Period in same day funds in the
approximate amount of the Eurodollar Rate Loan being made, continued or converted by Citibank and
with a term equivalent to such Interest Period would be offered by Citibank’s London Branch to
major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m.
(London time) two Business Days prior to the commencement of such Interest Period.

          “Eurodollar Rate Loan” means a Revolving Credit Loan, a Term B Loan or an Incremental
Term Loan, if any, that bears interest at a rate based on the Eurodollar Rate.

          “Eurodollar 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
Board of Governors of the Federal Reserve System 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 Eurodollar
Rate for each outstanding Eurodollar Rate Loan shall be adjusted automatically as of the effective
date of any change in the Eurodollar Reserve Percentage.

          “Event of Default” means any of the events described in Article VIII hereof.

          “Event of Loss” means, with respect to any property, (i) the actual or constructive
total loss of such property or the use thereof, resulting from destruction, damage beyond repair,
or the rendition of such property permanently unfit for normal use from any casualty or similar
occurrence whatsoever, (ii) the destruction or damage of a material portion of such property from
any casualty or similar occurrence whatsoever under circumstances in which such damage cannot
reasonably be expected to be repaired, or such property cannot reasonably be expected to

13

 

be restored to its condition immediately prior to such destruction or damage, within 180 days
after the occurrence of such destruction or damage, (iii) the condemnation, confiscation or seizure
of, or requisition of title to or use of, any property, or (iv) in the case of any property located
upon a leasehold, the termination or expiration of such leasehold.

          “Excess Cash Flow” means, for any fiscal year of the Borrower, the excess (if any) of
(A) the sum of (i) Operating Cash Flow for such fiscal year plus (ii) an amount equal to
any net increase in consolidated Current Liabilities of the Borrower and its Restricted
Subsidiaries during such fiscal year (other than any changes arising from acquisitions or
dispositions completed by the Borrower and its Restricted Subsidiaries during such fiscal year)
plus (iii) an amount equal to any net decrease in consolidated Current Assets (excluding
cash and Cash Equivalents) during such fiscal year (other than any changes arising from
acquisitions or dispositions completed by the Borrower and its Restricted Subsidiaries during such
fiscal year) over (B) the sum of (i) Total Interest Expense of the Borrower and its
Restricted Subsidiaries for such fiscal year plus (ii) an amount equal to any net decrease
in consolidated Current Liabilities of the Borrower and its Restricted Subsidiaries during such
fiscal year (other than any changes arising from acquisitions or dispositions completed by the
Borrower and its Restricted Subsidiaries during such fiscal year) plus (iii) an amount
equal to any net increase in consolidated Current Assets (excluding cash and Cash Equivalents) of
the Borrower and its Restricted Subsidiaries during such fiscal year (other than any changes
arising from acquisitions or dispositions completed by the Borrower and its Restricted Subsidiaries
during such fiscal year) plus (iv) all income taxes actually paid in cash by the Borrower
and its Restricted Subsidiaries during such fiscal year (including payments or distributions in
respect of amounts required to pay income taxes pursuant to Section 7.23(c)), plus
(v) Capital Expenditures actually made by the Borrower and its Restricted Subsidiaries in such
fiscal year plus (vi) the principal component of payments in respect of Capital Lease
Obligations plus (vii) the amount of any repayment or prepayment of Loans other than
pursuant to Section 2.04(a) or Section 2.06(a) (in the case of (x) payment in
respect of Revolving Credit Loans, to the extent that the Revolving Credit Commitments are
permanently reduced by the amount of such payment and (y) prepayment pursuant to Section
2.04(b), only to the extent that such prepayment resulted from a transaction that resulted in
an increase in Operating Cash Flow, and excluding any prepayment pursuant to Section
2.04(b)(i)) plus (viii) net cash received or paid in respect of hedging contracts or
similar agreements for such fiscal year, plus (ix) any expenses during such fiscal year
added back in determining Operating Cash Flow to the extent such expenses have been paid in cash.

          “Exchange” shall mean any exchange of assets or properties for consideration
consisting solely of other assets or properties, subject to the last sentence of this definition,
and of comparable value and use to those assets or properties being exchanged, and having a value
equal to the fair market value of those assets or properties being exchanged, including exchanges
involving the transfer or acquisition (or both transfer and acquisition) of Equity Interests of a
Person so long as substantially all of the Equity Interests of such Person are transferred or
acquired, as the case may be (and such Person becomes a Restricted Subsidiary and a Subsidiary
Guarantor hereunder). It is understood that exchanges of the kind described above as to which a
portion of the consideration paid or received is in the form of cash or Cash Equivalents shall
nevertheless constitute “Exchanges” for the purposes of this Agreement so long as the aggregate
consideration received by the Borrower and its Restricted Subsidiaries in connection with such

14

 

exchange represents fair market value for the assets or properties and cash or Cash
Equivalents being transferred by the Borrower and its Restricted Subsidiaries.

          “Excluded Indebtedness” has the meaning given to such term in Section 8.01(e)
hereto.

          “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), as a result of a
present or former connection between such Administrative Agent, Lender or L/C Issuer, as the case
may be, and the jurisdiction of the Governmental Authority imposing such tax or any taxing
authority thereof or therein (other than any such connection arising solely from the Administrative
Agent, such Lender or such L/C Issuer having executed, delivered or performed its obligations or
received a payment under, or enforced, any Loan Document), (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 and (c) in the case of a Foreign Lender (other than an assignee pursuant to a request by
the Borrower under Section 10.12), any withholding tax that is imposed on amounts payable
to such Foreign Lender at the time such Foreign Lender becomes a party hereto (or designates a new
Lending Office) or is attributable to such Foreign Lender’s failure or inability (other than as a
result of a Change in Law) to comply with Section 3.01(e), 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).

          “Facility” means the Term B Facility, the Revolving Credit Facility or an Incremental
Term Facility, if any, as the context may require.

          “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 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 Citibank on such day on such transactions as determined by the Administrative Agent.

          “Fee Letter” means the letter agreement, dated June 24, 2010, among Holdings,
Acquisition Sub, the Joint Lead Arrangers, the Initial Lenders and the other parties thereto.

          “Flow Through Entity” shall mean an entity that (a) for federal income tax purposes,
constitutes a business entity that is disregarded as an entity separate from its owners under the
Code, the Treasury regulations, or any published administrative guidance of the Internal Revenue
Service (a “Federal Flow Through Entity”), and (b) for state and local

15

 

jurisdiction tax purposes, is subject to treatment on a basis under applicable state or local
income tax law substantially similar to a Federal Flow Through Entity.

          “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. 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” shall mean any Subsidiary that is not a Domestic Subsidiary.

          “Franchise” means a franchise, license or other authorization or right to construct,
own, operate, promote and/or otherwise exploit any cable television system granted by the Federal
Communications Commission (or any successor agency of the Federal government) or any state, county,
city, town, village or other local governmental authority.

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

          “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 or such other principles as may be approved by a significant segment of the
accounting profession in the United States, that are applicable to the circumstances as of the date
of determination, consistently applied; provided, that, at any time after the Closing Date,
the Borrower may elect to apply IFRS accounting principles in lieu of GAAP and, upon any such
election, except as otherwise provided in Section 1.03(b), references herein to GAAP shall
thereafter be construed to mean IFRS (and equivalent pronouncements) as in effect at the date of
such election, except as otherwise provided in this Agreement; provided further,
that any calculation or determination in this Agreement that requires the application of GAAP for
periods that include Quarters ended prior to the adoption of IFRS shall remain as previously
calculated or determined.

          “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).

          “Granting Lender” has the meaning set forth in Section 10.06(h).

          “Grantor” has the meaning given to such term in the Security Agreement.

          “Guarantees” has the meaning given to such term in Section 7.18 hereof.

          “Guarantors” means Holdings and the Subsidiary Guarantors.

16

 

          “Guaranty” means the Guaranty made by the Guarantors under Article IV in favor
of the Secured Parties.

          “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.

          “Hedge Bank” means any Person that, at the time it enters into a Secured Hedge
Agreement, is a Lender or an Affiliate of a Lender, in its capacity as a party to such Secured
Hedge Agreement.

          “Holdings” has the meaning given to such term in the preamble hereto.

          “Honor Date” has the meaning given to such term in Section 2.03(c)(i).

          “IFRS” means the International Financial Reporting Standards as adopted by the
International Accounting Standards Board.

          “Increase Effective Date” has the meaning given to such term in Section
2.13(d).

          “Incremental Term Borrowing” means a borrowing consisting of simultaneous Incremental
Term Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest
Period made by each of the Incremental Term Lenders pursuant to Section 2.14.

          “Incremental Term Commitments” has the meaning given to such term in Section
2.14(a).

          “Incremental Term Facility” means, any additional tranche of Incremental Term
Commitments and Incremental Term Loans established pursuant to an Incremental Term Supplement.

          “Incremental Term Lender” means a Lender with an Incremental Term Commitment or
an outstanding Incremental Term Loan.

          “Incremental Term Loans” has the meaning given to such term in Section
2.14(a).

          “Incremental Term Note” means a promissory note made by the Borrower in favor of an
Incremental Term Lender, evidencing Incremental Term Loans made by such Incremental Term Lender,
substantially in the form attached to the Incremental Term Supplement.

          “Incremental Term Supplement” has the meaning given to such term in Section
2.14(c).

          “Indebtedness” means, as to any Person, Capital Lease Obligations of such Person and
other indebtedness of such Person for borrowed money (whether by loan or the issuance and

17

 

sale of debt securities) or for the deferred purchase or acquisition price of property or
services other than accounts payable, subscriber deposits, accrued expenses and customer advance
payments (other than for borrowed money) incurred in the ordinary course of business of such
Person. Without limiting the generality of the foregoing, such term shall include (a) when applied
to the Borrower and/or any Restricted Subsidiary, all obligations of the Borrower and/or any
Restricted Subsidiary under Swap Contracts and (b) when applied to the Borrower or any other
Person, all Indebtedness of others Guaranteed by such Person.

          “Indemnified Taxes” means Taxes other than (i) Excluded Taxes and (ii) Other Taxes.

          “Information Memorandum” means the document in the form approved by the Borrower
concerning the Loan Parties, dated November 2010, which was prepared in relation to Term B Facility
and distributed by the Joint Lead Arrangers to selected financial institutions prior to the date of
this Agreement.

          “Initial Lenders” means Citibank, Bank of America, N.A., Barclays Bank PLC, Credit
Suisse AG and UBS Loan Finance LLC.

          “Intellectual Property” means the Copyrights, Copyright Licenses, Patents, Patent
Licenses, Software, Trade Secrets, Trade Secret Licenses, Trademarks and Trademark Licenses of the
Loan Parties.

          “Interest Payment Date” means, (a) as to any Eurodollar Rate Loan, the last day of
each Interest Period applicable to such Loan and the Maturity Date of the Facility under which such
Loan was made; provided, however, that if any Interest Period for a Eurodollar 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, the
last Business Day of each March, June, September and December and the Maturity Date of the Facility
under which such Loan was made.

          “Interest Period” means, as to each Eurodollar Rate Loan, the period commencing on the
date such Eurodollar Rate Loan is disbursed or converted to or continued as a Eurodollar Rate Loan
and ending on the date one, two, three or six months thereafter, as selected by the Borrower in its
Committed Loan Notice (or such other period that is twelve months or less requested by the Borrower
and consented to by all the Appropriate Lenders); 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

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     (c) no Interest Period shall extend beyond the Maturity Date of the Facility under
which such Loan was made.

          “Investments” has the meaning given to such term in Section 7.20 hereof.

          “ISP” means the International Standby Practices (ISP98) International Chamber of
Commerce Publication No. 590, as the same may be amended and as in effect from time to time.

          “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 the L/C Issuer and relating to any such Letter of
Credit.

          “Joint Bookrunning Managers” has the meaning given to such term in the preamble
hereto.

          “Joint Lead Arrangers” has the meaning given to such term in the preamble hereto.

          “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, directives, 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 Revolving Credit Lender, such Lender’s
funding of its participation in any L/C Borrowing in accordance with its Applicable Revolving
Credit 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 Revolving Credit
Borrowing.

          “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 Citibank, in its capacity as issuer of Letters of Credit hereunder,
or any successor issuer of Letters of Credit hereunder.

          “L/C Obligations” means, as of 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 1.06. For all purposes of this Agreement, if on any date of
determination a Letter of Credit has expired by its terms but any amount may still be drawn

19

 

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.

          “Leases” means leases and subleases (excluding Capital Lease Obligations), licenses to
use property, easements and pole attachments and conduit or trench agreements and other rights to
use telephone or utility poles, conduits or trenches.

          “Lender” means the banks or other financial institutions which are parties hereto,
including the Swingline Lender and any Incremental Term Lender, together with their respective
successors and assigns.

          “Lender Insolvency Event” means that (i) a Lender or its Lender Parent is insolvent or
(ii) an event of the kind referred to in clause (g)(ii), (g)(v) or (h) of
Section 8.01 occurs with respect to such Lender or its Lender Parent (as if the references
in such provisions to the Borrower or Significant Restricted Subsidiaries referred to such Lender
or Lender Parent).

          “Lender Parent” means, with respect to a Lender, the bank holding company (as defined
in Federal Reserve Board Regulation Y), if any, of such Lender, or any Person owning, beneficially
or of record, directly or indirectly, a majority of the shares of such Lender.

          “Lender Party” means any Lender, the L/C Issuer or the Swingline Lender.

          “Lender Party Appointment Period” has the meaning given to such term in Section
9.06(a).

          “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. 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 seven days prior to the
Maturity Date then in effect for the Revolving Credit Facility (or, if such day is not a Business
Day, the next preceding Business Day).

          “Letter of Credit Fee” has the meaning given to such term in Section 2.03(i).

          “Letter of Credit Sublimit” means an amount equal to $25,000,000. The Letter of
Credit Sublimit is part of, and not in addition to, the Revolving Credit Facility.

          “Liens” has the meaning given to such term in Section 7.19 hereof.

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          “Liquidity” means, at any time, the sum of (i) the aggregate unused portion of the
Revolving Credit Commitments available to be drawn by the Borrower in accordance with Section
5.02 at such time and (ii) the aggregate amount of unrestricted cash (including certificates of
deposit and time deposits) and Cash Equivalents (inclusive of amounts on deposit in accounts
pledged in favor of the Collateral Agent) at the Borrower and its Subsidiaries at such time.

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

          “Loan Documents” means, collectively, (a) this Agreement, (b) the Notes, (c) the
Collateral Documents, (d) the Assumption Agreement, (e) the Fee Letter, (f) each Issuer Document,
(g) each Secured Hedge Agreement, (h) each Non-Interest Rate Secured Hedge Agreement and (i) each
Incremental Term Supplement, if any; provided that for purposes of the definition of
“Materially Adverse Effect” and Articles V through IX and Section 10.01,
“Loan Documents” shall not include Secured Hedge Agreements or Non-Interest Rate Secured Hedge
Agreements.

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

          “Mandatory Borrowing” has the meaning given to such term in Section 2.15(b).

          “Margin Stock” means “margin stock” as defined in Regulation U.

          “Material Real Property” has the meaning given to such term in the Security Agreement.

          “Materially Adverse Effect” means a materially adverse effect upon (i) the business,
assets, financial condition or results of operations of the Borrower and the Restricted
Subsidiaries taken as a whole on a combined basis in accordance with GAAP, (ii) the ability of the
Borrower and the Restricted Subsidiaries taken as a whole to perform the Obligations hereunder or
(iii) the legality, validity, binding nature or enforceability of this Agreement or any other Loan
Document or the validity, perfection, priority or enforceability of the security interest created,
or purported to be created, by each of the Collateral Documents.

          “Maturity Date” means (a) with respect to the Revolving Credit Facility, December 14,
2015, (b) with respect to Term Facility, December 14, 2017 and (c) with respect to each Incremental
Term Facility, if any, the date specified as such in the respective Incremental Term Supplement.

          “Maximum Rate” has the meaning given to such term in Section 10.08.

          “Measurement Period” means, at any date of determination, the most recently completed
four Quarters of the Borrower or, if fewer than four consecutive Quarters of the Borrower have been
completed since the Closing Date, the Quarters of the Borrower that have been completed since the
Closing Date; provided that: (a) for purposes of determining an amount of any item
included in the calculation of a financial ratio or financial covenant for the Quarter ended March
31, 2011, such amount for the Measurement Period then ended shall equal

21

 

such item for such Quarter multiplied by four; (b) for purposes of determining an
amount of any item included in the calculation of a financial ratio or financial covenant for the
Quarter ended June 30, 2011, such amount for the Measurement Period then ended shall equal such
item for the two Quarters then ended multiplied by two; and (c) for purposes of determining
an amount of any item included in the calculation of a financial ratio or financial covenant for
the Quarter ended September 30, 2011, such amount for the Measurement Period then ended shall equal
such item for the three Quarters then ended multiplied by 4/3.

          “Merger” has the meaning given to such term in the Preliminary Statements hereto.

          “Merger Agreement” has the meaning given to such term in the Preliminary Statements
hereto.

          “Merrill Lynch” has the meaning given to such term in the preamble hereto.

          “Monetization Indebtedness” means any Indebtedness of the Borrower or any Restricted
Subsidiary thereof issued in connection with a Monetization Transaction; provided that, (i)
on the date of its incurrence, the purchase price or principal amount of such Monetization
Indebtedness does not exceed the fair market value of the securities that are the subject of such
Monetization Transaction on such date and (ii) the obligations of the Borrower and its Restricted
Subsidiaries with respect to the purchase price or principal amount of such Monetization
Indebtedness (x) may be satisfied in full by delivery of the securities that are the subject of
such Monetization Transaction and any related options on such securities or any proceeds received
by the Borrower or any Restricted Subsidiary thereof on account of such options; provided
that if the Borrower or such Restricted Subsidiary no longer owns sufficient securities that were
the subject of such Monetization Transaction and/or related options on such securities to satisfy
in full the obligations of the Borrower and its Restricted Subsidiaries under such Monetization
Indebtedness, such Indebtedness shall no longer be deemed to be Monetization Indebtedness, and (y)
are not secured by any Liens on any of the Borrower’s or its Restricted Subsidiaries’ assets other
than the securities that are the subject of such Monetization Transaction and the related options
on such securities.

          “Monetization Transaction” means a transaction pursuant to which (i) securities
received pursuant to a Disposition or Exchange are sold, transferred or otherwise conveyed
(including by way of a forward purchase agreement, prepaid forward sale agreement, secured
borrowing or similar agreement) within 180 days of such Disposition or Exchange and (ii) the
Borrower or its Restricted Subsidiaries receive (including by way of borrowing under Monetization
Indebtedness) not less than 75% of the fair market value of such securities in the form of cash.

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

          “Mortgages” means the deeds of trust, trust deeds, deeds to secure debt and mortgages,
substantially in the form of Exhibit K (with such changes as may be satisfactory to the
Administrative Agent and its counsel to account for local law matters) and otherwise in form and
substance reasonably satisfactory to the Administrative Agent (and each other Mortgage

22

 

delivered pursuant to Section 7.12 from time to time), in each case as amended,
restated, supplemented or otherwise modified from time to time.

          “Mortgage Effective Date” has the meaning given to such term in Section 7.13.

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

          “Net Cash Proceeds” means proceeds received by the Borrower or any of the Restricted
Subsidiaries in cash from (x) any Disposition or the incurrence, issuance or sale of Indebtedness
or capital stock of the Borrower or any of the Restricted Subsidiaries, in each case after
deduction of the underwriting discounts and commissions in, the costs of, and any income,
franchise, transfer or other tax liability arising from, such sale, Disposition, incurrence or
issuance, (y) a capital contribution in respect of the common stock of any class of the Borrower to
the Borrower by the holder thereof, or (z) any insurance, condemnation awards or other payment with
respect to an Event of Loss, after deduction of the costs of, and any income, franchise, transfer
or other tax liability arising therefrom. If any amount payable to the Borrower or any such
Restricted Subsidiary in respect of any such incurrence or issuance shall be or become evidenced by
any promissory note or other negotiable or non-negotiable instrument, the cash proceeds received on
any such note or instrument shall constitute Net Cash Proceeds.

          “New Restricted Subsidiary” means any New Subsidiary designated as a Restricted
Subsidiary pursuant to Section 7.08(b) and any Unrestricted Subsidiary redesignated as a
Restricted Subsidiary pursuant to Section 7.08(c).

          “New Subsidiary” means any Person that becomes a Subsidiary of the Borrower after the
Closing Date.

          “New Unrestricted Subsidiary” means any New Subsidiary deemed an Unrestricted
Subsidiary pursuant to Section 7.08(a).

          “Non-Defaulting Lender” means, at any time, a Lender that is not a Defaulting Lender.

          “Non-Interest Rate Hedge Bank” means any Person that, at the time it enters into a
Non-Interest Rate Secured Hedge Agreement, is a Lender or an Affiliate of a Lender, in its capacity
as a party to such Non-Interest Rate Secured Hedge Agreement, or is the Administrative Agent or
Affiliate thereof.

          “Non-Interest Rate Secured Hedge Agreement” means any Swap Contract, other than an
interest rate Swap Contract, permitted under Article VII that is entered into by and
between the Borrower and any Non-Interest Rate Hedge Bank; and any Cash Management Agreement.

          “Note” means a Term B Note, a Revolving Credit Note, the Swingline Note or an
Incremental Term Note, if any, as the context may require.

23

 

          “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.

          “Operating Cash Flow” means, for any period, the following for the Borrower and the
Restricted Subsidiaries for such period, determined on a consolidated basis in accordance with
GAAP: (i) aggregate operating revenues, minus (ii) aggregate operating expenses (including
technical, programming, sales, selling, general administrative expenses and salaries and other
compensation, in each case net of amounts allocated to Affiliates, but excluding depreciation and
amortization and charges and credits relating to employee stock plans and restructuring charges and
credits and, to the extent otherwise included in operating expenses, any losses resulting from a
write-off or write-down of Investments by the Borrower or any Restricted Subsidiary in Affiliates);
provided, however, that for purposes of determining Operating Cash Flow for any
period, (A) there shall be excluded all management fees paid to the Borrower or any Restricted
Subsidiary during such period by any Unrestricted Subsidiary other than any such amounts settled in
cash to the extent not in excess of 5% of Operating Cash Flow for the Borrower and the Restricted
Subsidiaries as determined without including any such fees, (B) Operating Cash Flow for such period
shall be increased or reduced, as the case may be, by the Operating Cash Flow of assets or
businesses acquired or disposed of (provided that in each case it has an impact on Annual
Operating Cash Flow of at least $500,000) (including by means of any redesignation of any
Subsidiary pursuant to Section 7.08(c)) by the Borrower or any Restricted Subsidiary on or
after the first day of such period, determined on a pro forma basis reasonably satisfactory to the
Administrative Agent (it being agreed that it shall be satisfactory to the Administrative Agent
that such pro forma calculations may be based upon GAAP as applied in the preparation of the
financial statements for the Borrower, delivered in accordance with Section 7.01 rather
than as applied in the financial statements of the Person whose assets were acquired and may
include, in the Borrower’s discretion, a reasonable estimate of savings resulting from any such
acquisition or disposition (a) that have been realized, (b) for which the steps necessary for
realization have been taken, or (c) for which the steps necessary for realization are reasonably
expected to be taken with 12 months of the date of such acquisition), as though the Borrower or
such Restricted Subsidiary acquired or disposed of such assets on the first day of such period.
For purposes of this definition, operating revenues and operating expenses shall exclude any
non-recurring, non-cash items in excess of $5,000,000.

          “Other Taxes” means all present or future stamp or documentary taxes or any other
excise, property, intangible, mortgage recording or other similar taxes, charges or similar levies
arising from any payment made hereunder or under any other 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 Loans on any date, the aggregate
outstanding principal amount thereof after giving effect to any borrowings and

24

 

prepayments or repayments thereof 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.

          “Owned Copyrights” has the meaning given to such term in Section 6.17.

          “Parent Company Stock” means common stock or other common Equity Interests of or in
Cablevision or any of its Subsidiaries (other than Holdings, the Borrower or any of its
Subsidiaries).

          “Participant” has the meaning given to such term in Section 10.06(d).

          “Patent Licenses” means all agreements, whether written or oral, providing for the
grant by or to a Person of any right to manufacture, use or sell any invention covered by a Patent.

          “Patents” means (a) all letters patent of the United States or any other country, now
existing or hereafter arising, and all improvement patents, reissues, reexaminations, patents of
additions, renewals and extensions thereof, and (b) all applications for letters patent of the
United States or any other country, now existing or hereafter arising, and all provisions,
division, continuations and continuations-in-part and substitutes thereof.

          “PBGC” means the Pension Benefit Guaranty Corporation or any entity succeeding to any
or all of its functions under ERISA.

          “Permitted Acquisition” means any acquisition (including by merger, amalgamation,
consolidation or other form of combination) of all or substantially all of the assets of, or all or
substantially all of the Equity Interests (other than directors’ qualifying shares) in, a Person or
division, line of business or other business unit of a Person who will become, or which assets will
become property of, a Restricted Subsidiary so long as (a) there is no Default or Event of Default
both before and after giving pro forma effect to such acquisition and any incurrence of
Indebtedness in connection therewith, (b) the Borrower would be in compliance, on a pro forma basis
after giving effect to the consummation of such acquisition and any incurrence of Indebtedness in
connection therewith (such pro forma basis to include, in the Borrower’s discretion, a reasonable
estimate of savings resulting from any such acquisition (i) that have been realized, (ii) for which
the steps necessary for realization have been taken, or (iii) for which the steps necessary for
realization are reasonably expected to be taken with 12 months of the date of such acquisition, in
each case, certified by the Borrower), with the financial maintenance covenants set forth in
Sections 7.31 and 7.32, recomputed as of the last day of the most recently ended
Quarter for which financial statements have been delivered pursuant to Section 7.01;
provided that the Cash Flow Ratio for purposes of determining such pro forma compliance,
shall be determined in a manner to be more restrictive than the level otherwise applicable for the
relevant test period by 0.25:1.00, (c) the acquired company or assets are in the same business as
the Borrower and its Subsidiaries or are in a line of business that is generally related to the
lines of business conducted by the Borrower and its Subsidiaries, (d) any acquired company and its
subsidiaries (other than any subsidiary that shall be a Foreign Subsidiary) shall become

25

 

Guarantors and pledge their assets to the Collateral Agent and (e) the Borrower shall have
notified the Administrative Agent at least ten Business Days prior to the consummation of such
proposed acquisition, and shall have delivered to the Administrative Agent documents related to the
proposed acquisition reasonably requested by the Administrative Agent.

          “Permitted Debt” means any Indebtedness incurred, issued or sold by the Borrower or
any Subsidiary Guarantor after the Closing Date, provided that:

          (i) such Indebtedness (A) shall be unsecured, (B) shall have a commercially reasonable
interest rate (which rate shall be deemed commercially reasonable if such Indebtedness is
sold by a member of Financial Industry Regulatory Authority, Inc. in an underwritten
offering, in a private placement pursuant to Rule 144A under the Securities Act of 1933, or
on a “best efforts” basis), (C) shall be neither (1) redeemable, payable or required to be
purchased or otherwise retired or extinguished in whole or in part at a fixed or
determinable date (whether by operation of a sinking fund or otherwise), at the option of
any Person other than the Borrower or upon the occurrence of a condition other than a change
of control (as defined in the Debt Instruments governing such Indebtedness) not solely
within the control of the Borrower (such as a redemption required to be made out of future
earnings) nor (2) convertible into any other Indebtedness or capital stock of the Borrower
that may be so retired, extinguished or converted, in the case of clause (1) or (2) above,
at any time before the date that is one year after the last Maturity Date applicable to the
Term Facility, and (D) shall have terms and conditions no more restrictive or burdensome
taken as a whole than the terms and conditions of the Senior Notes (whether or not the
Senior Notes are outstanding at the date of such determination);

          (ii) at the time of and immediately after giving effect to the incurrence, issuance or
sale of such Indebtedness, no Default shall have occurred and be continuing, and the
Borrower shall have so certified to the Administrative Agent; and

          (iii) at the time of and immediately after giving effect to the incurrence, issuance or
sale of such Indebtedness, the Borrower would be in compliance, on a pro forma basis after
giving effect to any such incurrence, issuance or sale of such Indebtedness with the
financial maintenance covenants set forth in Sections 7.31 and 7.32,
recomputed as of the last day of the most recently ended Quarter for which financial
statements have been delivered pursuant to Section 7.01; provided that the
Cash Flow Ratio for purposes of determining such pro forma compliance, shall be the lesser
of (x) 7.50:1.00 and (y) the level otherwise applicable to the relevant test period;

and provided further, that the Borrower shall (I) prior to the issuance of any such
Indebtedness, provide notice to the Administrative Agent of the proposed issuance thereof and of
the use of the proceeds thereof and (II) as soon as available, provide to the Administrative Agent
copies of the Debt Instruments governing such Indebtedness.

          “Permitted Liens” means, with respect to any Person:

26

 

     (a) (i) pledges or deposits by such Person under workers’ compensation laws,
unemployment insurance laws or other social security legislation, and deposits securing
liability to insurance carriers under related insurance or self-insurance arrangements, (ii)
Liens incurred in the ordinary course of business securing insurance premiums or
reimbursement obligations under insurance policies related to the items specified in the
foregoing clause (i), or (iii) obligations in respect of letters of credit or bank
guarantees that have been posted by such Person to support the payment of the items set
forth in clauses (i) and (ii) of this clause (a);

     (b) (i) deposits to secure the performance of bids, tenders, contracts (other than for
borrowed money) or Leases to which such Person is a party, (ii) deposits to secure public or
statutory obligations of such Person, surety and appeal bonds, performance bonds and other
obligations of a like nature, (iii) deposits as security for contested taxes or import
duties or for the payment of rent, and (iv) obligations in respect of letters of credit or
bank guarantees that have been posted by such Person to support the payment of items set
forth in clauses (i) and (ii) of this clause (b);

     (c) Liens consisting of pledges or deposits of cash or securities made by such Person
as a condition to obtaining or maintaining any licenses issued to it by, or to satisfy other
similar requirements of, any applicable Governmental Authority;

     (d) Liens imposed by law, such as (i) carriers’, warehousemen’s and mechanics’
materialmen’s, landlords’, or repairmen’s Liens, or (ii) other like Liens arising in the
ordinary course of business securing obligations which are not overdue by more than 30 days
or which if more than 30 days overdue, (A) the period of grace, if any, related thereto has
not expired or which are being contested in good faith by appropriate proceedings;
provided that a reserve or other appropriate provision shall have been made therefor
as appropriate in accordance with GAAP, or (B) the aggregate principal outstanding amount of
the obligations secured thereby does not exceed $1,000,000;

     (e) Liens arising out of judgments or awards not constituting an Event of Default;

     (f) Liens for property taxes not yet due and payable or which are being contested in
good faith and by appropriate proceedings (and as to which all foreclosures and other
enforcement proceedings shall have been fully bonded or otherwise effectively stayed);

     (g) survey exceptions, encumbrances, easements or reservations of, or rights of others
for rights of way, sewers, electric lines, telegraph and telephone lines and other similar
purposes, or other restrictions or encumbrances as to the use of real properties or Liens
incidental to the conduct of the business of such Person or to the ownership of its
properties which do not in the aggregate materially impair their use in the ordinary
operation of the business of such Person;

     (h) any zoning, building or similar laws or rights reserved to or vested in any
Governmental Authority;

27

 

     (i) Liens created in the ordinary course of business and customary in the relevant
industry with respect to the creation of content, and the components thereof, securing the
obligations not to exceed $5,000,000 in the aggregate of any of the Borrower and its
Restricted Subsidiaries owing in respect of compensation or other payments owed for services
rendered by creative or other personnel that do not constitute Indebtedness;
provided that any such Lien shall attach solely to the content, or applicable
component thereof, that are the subject to the arrangements giving rise to the underlying
obligation;

     (j) Liens for taxes, assessments, charges or other governmental levies not overdue by
more than 30 days or which if more than 30 days overdue, (i) the period of grace, if any,
related thereto has not expired or which are being contested in good faith by appropriate
proceedings; provided that a reserve or other appropriate provision shall have been
made therefor as appropriate in accordance with GAAP and (ii) the aggregate principal
outstanding amount of the obligations secured thereby does not exceed $1,000,000;

     (k) Liens arising in the ordinary course of business by virtue of any contractual,
statutory or common law provision relating to banker’s Liens, rights of set-off or similar
rights and remedies covering deposit or securities accounts (including funds or other assets
credited thereto and pooling and netting arrangements) or other funds maintained with a
depository institution or securities intermediary;

     (l) restrictions on transfers of securities imposed by applicable securities laws;

     (m) (i) any interest or title of a lessor, licensor or sublessor under any Lease,
license or sublease entered into by such Person in the ordinary course of its business and
covering only the assets so leased, licensed or subleased and (ii) the rights reserved or
vested in any other Person by the terms of any Lease, license, franchise, grant or permit
held by such Person or by a statutory provision to terminate any such Lease, license,
franchise, grant or permit or to require periodic payments as a condition to the continuance
thereof;

     (n) any Liens created under pole agreements on cables and other property affixed to
transmission poles or contained in underground conduits;

     (o) Liens or restrictions on transfer of assets imposed by franchisers or Governmental
Authorities in connection with franchise agreements or pole agreements;

     (p) assignments of insurance or condemnation proceeds provided to landlords (or their
mortgagees) pursuant to the terms of any Lease and Liens or rights reserved in any Lease for
rent or for compliance with the terms of such Lease;

     (q) Liens arising from precautionary UCC financing statement filings (or similar
filings under applicable law) regarding Leases entered into by such Person in the ordinary
course of business;

28

 

     (r) Liens arising out of conditional sale, title retention, consignment or similar
arrangements for sale of goods entered into by such Person in the ordinary course of
business not prohibited by this Agreement;

     (s) Liens in favor of customs and revenue authorities arising as a matter of law to
secure payment of customs duties in connection with the importation of goods in the ordinary
course of business; and

     (t) additional Liens so long as the aggregate principal outstanding amount of the
obligations secured thereby does not exceed $5,000,000 at any time.

          “Permitted Refinancing Indebtedness” means any Indebtedness issued in exchange for, or
the net proceeds of which are used to extend, refinance, renew, replace, defease or refund
(collectively, to “Refinance”), the Indebtedness being Refinanced (or previous refinancings thereof
constituting Permitted Refinancing Indebtedness); provided, that (a) the principal amount
(or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the
principal amount (or accreted value, if applicable) of the Indebtedness so Refinanced (plus unpaid
accrued interest and premium thereon and underwriting discounts, fees, commissions and expenses),
(b) the average life to maturity of such Permitted Refinancing Indebtedness is greater than or
equal to the weighted average life to maturity of the Indebtedness being Refinanced, (c) the final
maturity of such Permitted Refinancing shall be no earlier than 180 days after the Maturity Date
of the Term Facility, (d) if the Indebtedness being Refinanced is subordinated in right of payment
to the Obligations under this Agreement, such Permitted Refinancing Indebtedness shall be
subordinated in right of payment to such Obligations on terms at least as favorable to the Lenders
as those contained in the documentation governing the Indebtedness being Refinanced, (e) no
Permitted Refinancing Indebtedness shall have different obligors than the Indebtedness being
Refinanced and (f) if the Indebtedness being Refinanced is secured by any collateral (whether
equally and ratably with, or junior to, the Secured Parties or otherwise), such Permitted
Refinancing Indebtedness may be secured by such collateral (including in respect of working capital
facilities of Foreign Subsidiaries otherwise permitted under this Agreement only, any collateral
pursuant to after acquired property clauses to the extent any such collateral secured the
Indebtedness being Refinanced) on terms no less favorable to the Secured Parties than those
contained in the documentation governing the Indebtedness being Refinanced.

          “Permitted Restricted Subsidiary Transaction” means any transaction by which any
Restricted Subsidiary shall (i) pay dividends or make any distribution on its capital stock or
other equity securities or pay any of its Indebtedness owed to the Borrower or any other Restricted
Subsidiaries, (ii) make any loans or advances to the Borrower or any other Restricted Subsidiaries
or (iii) transfer any of its properties or assets to, or merge or consolidate with or into, the
Borrower or any other Restricted Subsidiaries.

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

          “Plan” means, at any time, an employee pension benefit plan which is covered by Title
IV of ERISA or subject to the minimum funding standards under Section 412 of the Code

29

 

and is either (i) maintained by the Borrower or an ERISA Affiliate or (ii) a Multiemployer
Plan to which the Borrower or an ERISA Affiliate is then making or accruing an obligation to make
contributions or has within the preceding six plan years made contributions.

          “Pledge Agreement” means that certain Pledge Agreement, dated as of December 14, 2010,
among certain Loan Parties and the Collateral Agent.

          “Pledge Agreement Supplement” means a pledge agreement supplement in the form of
Exhibit A to the Pledge Agreement, dated as of the Closing Date.

          “Pledged Equity Interests” has the meaning given to such term in the Pledge Agreement.

          “Pledgor” has the meaning given to such term in the Pledge Agreement.

          “Potential Defaulting Lender” means, at any time, a Lender (i) as to which the
Administrative Agent has notified the Borrower that an event of the kind referred to in the
definition of “Lender Insolvency Event” has occurred and is continuing in respect of any financial
institution affiliate of such Lender, or (ii) as to which the Administrative Agent has in good
faith determined and notified the Borrower that such Lender or its Lender Parent or a Subsidiary
thereof has defaulted on its funding obligations under any other loan agreement or credit
agreement. Any determination that a Lender is a Potential Defaulting Lender under any of clauses
(i) through (ii) above shall be made by the Administrative Agent in its reasonable discretion
acting in good faith. The Administrative Agent will promptly send to all parties hereto a copy of
any notice to the Borrower referred to above.

          “Prohibited Transaction” means a transaction that is prohibited under Section 4975 of
the Code or Section 406 of ERISA and not exempt under Section 4975 of the Code or Section 408 of
ERISA.

          “Quarter” means a fiscal quarterly period of the Borrower.

          “Reduction Amount” has the meaning set forth in Section 2.04(b)(vi).

          “Register” has the meaning given to such term in Section 10.06(c).

          “Registered Public Accounting Firm” has the meaning specified by the Securities Laws
and shall be independent of the Borrower as prescribed by the Securities Laws.

          “Regulation U” means Regulation U of the Board of Governors of the Federal Reserve
System as the same may be amended or supplemented from time to time.

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

          “Reportable Event” means (i) any of the events set forth in Section 4043(b) (other
than a Reportable Event as to which the provision of 30 days’ notice to the PBGC is waived

30

 

under applicable regulations), or 4063(a) of ERISA or the regulations thereunder, (ii) a
determination that any Plan is an “at risk” status within the meaning of Section 303 of ERISA and
the failure of such Plan to make the required funding to the Plan as provided by Section 303(i) of
ERISA, and (iii) any failure to make payments required by Section 430(j) of the Code if such
failure continues for 30 days following the due date for any required installment.

          “Repricing Transaction” means the prepayment or refinancing of all or a portion of the
Term Loans with the incurrence by any Loan Party of any long-term financing incurred for the
primary purpose of repaying, refinancing, substituting or replacing the Term Loans and having an
effective interest cost or weighted average yield (as determined by the Administrative Agent
consistent with generally accepted financial practice and, in any event, excluding any arrangement
or commitment fees in connection therewith) that is less than the interest rate for or weighted
average yield (as determined by the Administrative Agent on the same basis) of the Term Loans,
including without limitation, as may be effected through any amendment to this Agreement relating
to the interest rate for, or weighted average yield of, the Term Loans.

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

          “Required Incremental Term Lenders” means, as of any date of determination,
Incremental Term Lenders holding more than 50% of the Incremental Term Facility, if any, on such
date; provided that the portion of the Incremental Term Facility held by any Defaulting
Lender shall be excluded for purposes of making a determination of Required Incremental Term
Lenders.

          “Required Lenders” means, as of any date of determination, Lenders holding more than
50% of the sum of the (a) Total Outstandings (with the aggregate amount of each Revolving Credit
Lender’s risk participation and funded participation in L/C Obligations being deemed “held” by such
Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit
Commitments; provided that (i) the unused Revolving Credit Commitment of, and the portion
of the Total Outstandings held or deemed held by, any Defaulting Lender, and (ii) the Loans held by
the Borrower or any of its Affiliates or Subsidiaries, shall in each case be excluded for purposes
of making a determination of Required Lenders.

          “Required Revolving Lenders” means, as of any date of determination, Revolving Credit
Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the
aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in
L/C Obligations being deemed “held” by such Revolving Credit Lender for purposes of this
definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused
Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or
deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of
Required Revolving Lenders.

          “Responsible Officer” means the chief executive officer, president, chief financial
officer, executive vice president, controller, treasurer or assistant treasurer of a Loan Party.
Any

31

 

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 Group Reporting Period” means any Quarter or fiscal year of the Borrower
if, as of the end of such period, either (i) the combined revenues of the Unrestricted Subsidiaries
exceed $4,000,000 for the four Quarter period then ended, or (ii) the aggregate amount of the
assets of the Unrestricted Subsidiaries as recorded on the balance sheet of the Borrower and its
consolidated Subsidiaries exceeds $10,000,000.

          “Restricting Information” has the meaning given to such term in Section
10.02(g).

          “Restricted Payments” means direct or indirect distributions, dividends or other
payments by the Borrower or any Restricted Subsidiary on account of (including, without limitation,
sinking fund or other payments on account of the redemption, retirement, purchase or acquisition
of) any general or limited partnership or joint venture interest in, or any capital stock of, the
Borrower or such Restricted Subsidiary, as the case may be (whether made in cash, property or other
obligations), other than any such distributions, dividends and other payments made by a Restricted
Subsidiary to the Borrower or another Restricted Subsidiary on account of any such interest in or
stock of the former held by the latter.

          “Restricted Subsidiaries” means the Persons set forth on Schedule 1.01(i)
hereto and any New Restricted Subsidiary, provided that any Restricted Subsidiary
redesignated as an Unrestricted Subsidiary pursuant to and in compliance with Section
7.08(c) shall cease to be a Restricted Subsidiary.

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

          “Revolving Credit Commitment” means, as to each Revolving Credit Lender, its
obligation to (a) make Revolving Credit Loans to the Borrower pursuant to Section 2.01(b),
and (b) purchase participations in L/C Obligations, 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 under the caption “Revolving Credit Commitment” or opposite such caption 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 Credit Facility” means, at any time, the aggregate amount of the Revolving
Credit Lenders’ Revolving Credit Commitments at such time.

          “Revolving Credit Lender” means, at any time, any Lender that has a Revolving Credit
Commitment at such time.

          “Revolving Credit Loan” has the meaning given to such term in Section 2.01(b);
provided that a Swingline Loan shall not constitute a Revolving Credit Loan.

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          “Revolving Credit Note” means a promissory note made by the Borrower in favor of a
Revolving Credit Lender evidencing Revolving Credit Loans made by such Revolving Credit Lender,
substantially in the form of Exhibit B-2.

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

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

          “Secured Cash Management Agreement” means any Cash Management Agreement that is
entered into by and between the Borrower and any Cash Management Bank.

          “Secured Hedge Agreement” means any interest rate Swap Contract permitted under
Article VII that is entered into by and between the Borrower and any Hedge Bank.

          “Secured Parties” means, collectively, the Administrative Agent, the Lenders, the L/C
Issuer, the Hedge Banks, the Non-Interest Rate Hedge Banks, the Cash Management Banks, each
co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to
Section 9.05, and the other Persons the Obligations owing to which are or are stated to be
secured by the Collateral under the terms of the Collateral Documents.

          “Securities Laws” means the Securities Act of 1933, the Securities Exchange Act of
1934, the Sarbanes-Oxley Act of 2002, and the applicable accounting and auditing principles, rules,
standards and practices promulgated, approved or incorporated by the SEC or the Public Company
Accounting Oversight Board.

          “Security Agreement” means that certain Security Agreement, dated as of December 14,
2010, among certain Loan Parties and the Collateral Agent.

          “Security Agreement Supplement” means a security agreement supplement in the form of
Exhibit A to the Security Agreement, dated as of the Closing Date.

          “Senior Notes” means the $250,000,000 Senior Notes due 2018 issued by the Borrower
pursuant to the Senior Notes Indenture, as amended to the extent permitted under the Loan
Documents.

          “Senior Notes Indenture” means the Indenture dated December 14, 2010 between the
Borrower and U.S. Bank, National Association, as Trustee, as amended to the extent permitted under
the Loan Documents.

          “Significant Restricted Subsidiary” means a Restricted Subsidiary having (x) revenues
in excess of $5,000,000 for the four Quarter period then ended or (y) assets in excess of
$10,000,000 recorded on its most recent audited balance sheet.

          “Software” means the intellectual property rights embodied in computer programs,
computer applications, source code, object code and related documentation.

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          “Solvent” and “Solvency” mean, with respect to any Person on any date of
determination, that on such date (a) the fair value of the property of such Person is greater than
the total amount of liabilities, including contingent liabilities, of such Person, (b) 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, (c)
such Person does not intend to, and does not believe that it will, incur debts or liabilities
beyond such Person’s ability to pay such debts and liabilities as they mature and (d) such Person
is not engaged in business or a transaction, and is not about to engage in business or a
transaction, for which such Person’s property would constitute an unreasonably small capital. The
amount of contingent liabilities at any time shall be computed as the amount that, in the 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.

          “Solvency Certificate” means a certificate of a senior financial executive of the
Borrower in form and substance reasonably satisfactory to the Administrative Agent.

          “SPC” has the meaning given to such term in Section 10.06(h).

          “Specified Representations” means the representations and warranties made in
Sections 6.01, 6.03(a)(ii), 6.03(b)(i) (solely to the extent it relates to
the Senior Notes Indenture), 6.07, 6.09, 6.13, 6.18 and
6.20.

          “Subordinated Debt” means any Indebtedness of any Loan Party that is subordinated to
the Obligations of such Loan Party under the Loan Documents.

          “Subordinated Debt Documents” means all agreements, indentures and instruments
pursuant to which any Subordinated Debt is issued, in each case as amended to the extent permitted
under the Loan Documents.

          “Subsidiary” of a Person means a corporation, partnership, joint venture, limited
liability company or other business entity of which a majority of the shares or securities or other
interests having ordinary voting power for the election of directors or other governing body (other
than securities or interests having such power only by reason of the happening of a contingency)
are 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.

          “Subsidiary Guarantors” means the Persons set forth on Schedule 1.01(iii)
hereto and each New Restricted Subsidiary required to become a Guarantor pursuant to Section
7.08 hereof.

          “Subsidiary Guaranty Supplement” has the meaning given to such term in Section
4.11.

          “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

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

          “Swingline Borrowing” means a borrowing of Swingline Loans made by the Swingline
Lender pursuant to Section 2.15(a)

          “Swingline Lender” means any Lender or the Administrative Agent as agreed to at any
time by the Borrower and such Lender or the Administrative Agent, in either case as designated in
accordance with this Agreement. The initial Swingline Lender shall be Citibank.

          “Swingline Loans” has the meaning given to such term in Section 2.01(c).

          “Swingline Note” means a promissory note made by the Borrower in favor of the
Swingline Lender evidencing Swingline Loans made by the Swingline Lender, substantially in the form
of Exhibit B-3.

          “Swingline Sublimit” means $5,000,000. The Swingline Sublimit is part of, and not in
addition to, the Revolving Credit Facility.

          “Taxes” means all present or future taxes, assessments or other charges (including
withholdings) imposed by any Governmental Authority with authority to impose the same, including
any interest, additions to tax or penalties applicable thereto.

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

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

          “Term B Facility” means, at any time, (a) on or prior to the Closing Date, the
aggregate amount of the Term B Commitments at such time and (b) thereafter, the aggregate principal
amount of the Term B Loans of all Term B Lenders outstanding at such time.

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          “Term B Lender” means (a) at any time on or prior to the Closing Date, any Lender that
has a Term B Commitment at such time and (b) at any time after the Closing Date, any Lender that
holds Term B Loans at such time.

          “Term B Loan” means an advance made by any Term B Lender under the Term B Facility.

          “Term B Note” means a promissory note made by the Borrower in favor of a Term B Lender
evidencing Term B Loans made by such Term B Lender, substantially in the form of Exhibit
B-1.

          “Term Borrowing” means a Term B Borrowing or an Incremental Term Borrowing, if any, as
the context may require.

          “Term Commitment” means a Term B Commitment or an Incremental Term Commitment, if any,
as the context may require.

          “Term Facilities” means the Term B Facility and each Incremental Term Facility, if
any, as the context may require.

          “Term Lender” means a Term B Lender or an Incremental Term Lender, if any, as the
context may require.

          “Term Loan” means a Term B Loan or an Incremental Term Loan, if any, as the context
may require.

          “Termination Event” means (i) a Reportable Event, (ii) the termination of a Plan, or
the filing of a notice of intent to terminate a Plan, or the treatment of a Plan amendment as a
termination under Section 4041(e) of ERISA, (iii) the institution of proceedings to terminate a
Plan under Section 4042 of ERISA or (iv) the appointment of a trustee to administer any Plan under
Section 4042 of ERISA.

          “Total Interest Expense” means, for any period, the sum of (i) the aggregate amount of
interest accrued during such period in respect of Indebtedness (including the interest component of
rentals in respect of Capital Lease Obligations) of the Borrower and the Restricted Subsidiaries
(determined on a consolidated basis), other than obligations under any Guarantee permitted under
Section 7.18(j) or Section 7.18(n), (ii) the aggregate amount of fees accrued in
respect of the Letters of Credit hereunder during such period and (iii) the aggregate amount of
Commitment Fees accrued hereunder during such period. For purposes hereof, the amount of interest
accrued in respect of Indebtedness for any period (A) shall be increased (to the extent not already
treated as interest expense or income, as the case may be) by the excess, if any, of amounts
payable by the Borrower and/or any Restricted Subsidiary arising under any interest rate Swap
Contract during such period over amounts receivable by the Borrower and/or any Restricted
Subsidiary thereunder (or reduced by the excess, if any, of such amounts receivable over such
amounts payable) and interest on a Capital Lease Obligation shall be deemed to accrue at an
interest rate reasonably determined by the Borrower to be the rate of interest implicit in such
Capital Lease Obligation in accordance with GAAP and (B) shall be increased or reduced, as the case
may be, by the amount of interest accrued during such period in respect of

36

 

Indebtedness of the Borrower or any Restricted Subsidiary in respect of assets acquired or
disposed of (including by means of any redesignation of any Subsidiary pursuant to Section
7.08(c)) by the Borrower or such Restricted Subsidiary on or after the first day of such
period, determined on a pro forma basis reasonably satisfactory to the Administrative Agent (it
being agreed that it shall be satisfactory to the Administrative Agent that such pro forma
calculations may be based upon GAAP as applied in the preparation of the financial statements for
the Person, delivered in accordance with Section 7.01 rather than as applied in the
financial statements of the Borrower whose assets were acquired and may include, in the Borrower’s
discretion, a reasonable estimate of savings resulting from any such acquisition (i) that have been
realized, (ii) for which the steps necessary for realization have been taken, or (iii) for which
the steps necessary for realization are reasonably expected to be taken with 12 months of the date
of such acquisition), as though the Borrower or such Restricted Subsidiary acquired or disposed of
such assets on the first day of such period.

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

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

          “Trade Secrets” means all confidential and proprietary information, including, without
limitation, know-how, trade secrets, inventions, research and development information, databases
and data, pricing and cost information, business and marketing plans and customer and supplier
lists and information.

          “Trade Secret Licenses” means any agreement, whether written or oral, providing for
the grant by or to a Person of any right under a Trade Secret.

          “Trademark Licenses” means any agreement, whether written or oral, providing for the
grant by or to a Person of any right to use any Trademark.

          “Trademarks” means all trademarks, trade names, corporate names, company names,
business names, fictitious business names, service marks, elements of package or trade dress of
goods or services, logos and other source or business identifiers, together with the goodwill
associated therewith, now existing or hereafter adopted or acquired, all registrations and
recordings thereof, and all application in connection therewith, whether in the United States
Patent and Trademark Office or in any similar office or agency of the United States, any State
thereof or any other country or any political subdivision thereof and all renewals thereof.

          “Transaction” means (i) the Acquisition, (ii) the Equity Contribution, and (iii) the
transactions contemplated by the Loan Documents.

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

          “UCC” has the meaning given to such term in the Security Agreement.

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          “UCP” means the Uniform Customs and Practice for Documentary Credits, 1993 revision,
International Chamber of Commerce Publication No. 500, as the same may be amended and in effect
from time to time.

          “Unreimbursed Amount” has the meaning given to such term in Section
2.03(c)(i).

          “Unrestricted Subsidiaries” means the Persons set forth on Schedule 1.01(ii)
hereto and any New Unrestricted Subsidiaries, provided that any Unrestricted Subsidiary
redesignated by the Borrower as a Restricted Subsidiary pursuant to and in compliance with
Section 7.08(c) shall cease to be an Unrestricted Subsidiary.

          Section 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 words “asset” and “property” (except when used as
accounting terms, in which case GAAP shall apply) shall be construed to have the same
meaning and effect and to refer to any and all tangible and intangible assets and
properties, including cash, securities, accounts and contract rights.

     (b) 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.”

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     (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.

          Section 1.03 Accounting Terms. (a) Generally. 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 after the consummation of the Merger and as in effect from time to time, applied in a
manner consistent with that used in preparing the audited financial statements, except as
otherwise specifically prescribed herein.

          (b) Changes in GAAP. (i) 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 applicable 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.

               (ii) The Borrower may at any time elect to apply IFRS accounting principles in lieu of GAAP,
but prior to any such change shall notify the Administrative Agent of any intended change to the
manner in which any financial statements shall be prepared. Following such notification, if
requested by the Borrower or the Administrative Agent, the Borrower and the Administrative Agent
shall negotiate in good faith to amend any computation of any financial ratio or requirement set
forth in any Loan Document to preserve the original intent thereof in light of such change from
GAAP to IFRS. Unless the Required Lenders shall have objected to such required amendments within
10 Business Days after the Lenders shall have been notified thereof by the Administrative Agent (it
being agreed that the Administrative Agent shall give such notice promptly via the Approved
Electronic Platform after reaching agreement with the Borrower with respect to such required
amendments), such amendments shall become effective and shall be binding on all parties hereto;
provided that, until so amended, (i) each such ratio or requirement shall continue to be
computed in accordance with GAAP 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 to IFRS.

          Section 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).

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          Section 1.05 Times of Day. Unless otherwise specified, all references herein to times
of day shall be references to Eastern time (daylight or standard, as applicable).

          Section 1.06 Letter of Credit Amounts. Unless otherwise specified herein, the amount
of a Letter of Credit at any time shall be deemed to be 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 maximum stated amount of such Letter of Credit after giving effect to all such
increases, whether or not such maximum stated amount is in effect at such time.

          Section 1.07 Currency Equivalents Generally. Any amount specified in this Agreement
(other than in Articles II, IV and IX) or any of the other Loan Documents
to be in Dollars shall also include the equivalent of such amount in any currency other than
Dollars, such equivalent amount thereof in the applicable currency to be determined by the
Administrative Agent at such time on the basis of the Spot Rate (as defined below) for the purchase
of such currency with Dollars. For purposes of this Section 1.07, the “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 of such determination; 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.

ARTICLE II

THE COMMITMENTS AND CREDIT EXTENSIONS

          Section 2.01 The Loans. (a) The Term B Borrowing. Subject to the terms and
conditions set forth herein, each Term B Lender severally agrees to make a single loan to the
Borrower on the Closing Date in an amount not to exceed such Term B Lender’s Term B Commitment.
The Term B Borrowing shall consist of Term B Loans made simultaneously by the Term B Lenders in
accordance with their respective Applicable Percentage of the Term B Facility. Amounts borrowed
under this Section 2.01(a) and repaid or prepaid may not be reborrowed. Term B Loans may
be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.

          (b) The Revolving Credit Borrowings. Subject to the terms and conditions set forth
herein, each Revolving Credit Lender severally agrees to make loans (each such loan, a
“Revolving Credit Loan”) to the Borrower 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 Credit Commitment; provided, however, that after giving
effect to any Revolving Credit Borrowing, (i) the Total Revolving Credit Outstandings shall not
exceed the Revolving Credit Facility, and (ii) the aggregate Outstanding Amount of the Revolving
Credit Loans of any Lender, plus such Revolving Credit Lender’s Applicable Revolving Credit
Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such Revolving

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Credit Lender’s Revolving Credit Commitment. Within the limits of each Revolving Credit
Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the
Borrower may borrow under this Section 2.01(b), prepay under Section 2.04, and
reborrow under this Section 2.01(b). Revolving Credit Loans may be Base Rate Loans or
Eurodollar Rate Loans, as further provided herein.

          (c) The Swingline Borrowings. Subject to the terms and conditions set forth herein,
including Section 2.15, the Swingline Lender, in its individual capacity, may in its sole
discretion make revolving loans (each a “Swingline Loan” and, collectively, the
“Swingline Loans”) to the Borrower from time to time, on any Business Day during the
Availability Period, in an aggregate amount not to exceed at any time outstanding the Swingline
Sublimit; provided, however, that after giving effect to any Swingline Borrowing,
the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility. Amounts
borrowed under this Section 2.01(c) and repaid or prepaid may be reborrowed in accordance
with the provisions of this Agreement.

          Section 2.02 Borrowings, Conversions and Continuations of Loans. (a) Each Term
Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans
from one Type to the other, and each continuation of Eurodollar 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 1:00 p.m. (i) three
Business Days prior to the requested date of any Borrowing of, conversion to or continuation of
Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on
the requested date of any Borrowing of Base Rate Loans; provided, however, that
notice of (x) the initial Borrowing of Base Rate Loans may be received by the Administrative Agent
at such time as agreed by the Administrative Agent on the requested date of Borrowing and (y) any
conversion of such initial Borrowing to Eurodollar Rate Loans may be received by the Administrative
Agent no later than 3:00 p.m. on the third Business Day prior to the requested date of conversion.
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 Committed Loan Notice, appropriately
completed and signed by a Responsible Officer of the Borrower. In the case of any discrepancies
between telephonic and written notices received by the Administrative Agent, the telephonic notice
shall be effective as understood in good faith by the Administrative Agent. Each Borrowing of,
conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $1,000,000
or a whole multiple of $100,000 in excess thereof. Except as provided in Section 2.03(c),
each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a
whole multiple of $100,000 in excess thereof. Each Committed Loan Notice (whether telephonic or
written) shall specify (i) whether the Borrower is requesting a Term B Borrowing, a Revolving
Credit Borrowing, an Incremental Term Borrowing, if available, a conversion of Term Loans or
Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar 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 Term Loans or Revolving Credit Loans are to
be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If
the Borrower fails to specify a Type of Loan in a Committed Loan Notice or if the Borrower fails to
give a timely notice requesting a conversion or continuation, then the applicable Term Loans or

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Revolving Credit Loans shall be made as, or converted to, Base Rate Loans. 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 Eurodollar Rate Loans. If the Borrower requests a Borrowing
of, conversion to, or continuation of Eurodollar Rate Loans in any such Committed 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 Committed Loan Notice, the Administrative Agent shall promptly
notify each Lender of the amount of its Applicable Percentage under the applicable Facility of the
applicable Term Loans, Revolving Credit Loans or Incremental Term Loans, if any, 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 described in
Section 2.02(a). In the case of a Term Borrowing or a Revolving Credit Borrowing, each
Appropriate Lender shall make the amount of its Loan available to the Administrative Agent in
immediately available funds at the Administrative Agent’s Office not later than (i) two hours after
receipt of notice from the Administrative Agent on the Closing Date in the case of the initial
Borrowing of Base Rate Loans (as long as such notice is received prior to 1:30 p.m. on such day) or
(ii) 1:00 p.m. on the Business Day specified in the applicable Committed Loan Notice. Upon
satisfaction of the applicable conditions set forth in Section 5.02 (and, (x) if such
Borrowing is the initial Credit Extension, Section 5.01 and (y) if such Borrowing is the
Incremental Term Borrowing, the applicable conditions set forth in the Incremental Term
Supplement), 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 Citibank 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 a
Committed Loan Notice with respect to a Revolving Credit Borrowing is given by the Borrower, there
are L/C Borrowings outstanding, then the proceeds of such Revolving Credit 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 Eurodollar Rate Loan may be continued or converted
only on the last day of an Interest Period for such Eurodollar Rate Loan. During the existence of
a Default, the Administrative Agent may notify the Borrower that Loans may only be converted into
or continued as Loans of certain specified Types and, thereafter, until no Default shall continue
to exist, Loans may not be converted into or continued as Loans of any Type other than one or more
of such specified Types.

          (d) The Administrative Agent shall promptly notify the Borrower and the Lenders of the
interest rate applicable to any Interest Period for Eurodollar Rate Loans upon determination of
such interest rate. At any time that Base Rate Loans are outstanding, the Administrative Agent
shall notify the Borrower and the Lenders of any change in Citibank’s prime rate used in
determining the Base Rate promptly following the public announcement of such change.

          (e) After giving effect to all Term B Borrowings, all conversions of Term B Loans from one
Type to the other, and all continuations of Term B Loans as the same Type,

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there shall not be more than ten Interest Periods in effect in respect of the Term B Facility.
After giving effect to all Revolving Credit Borrowings, all conversions of Revolving Credit Loans
from one Type to the other, and all continuations of Revolving Credit Loans as the same Type, there
shall not be more than twelve Interest Periods in effect in respect of the Revolving Credit
Facility.

          Section 2.03 Letters of Credit. (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 Revolving Credit 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 for the account of the Borrower or its Subsidiaries,
and to amend Letters of Credit previously issued by it, in accordance with Section 2.03(b),
and (2) to honor drawings under the Letters of Credit; and (B) the Revolving Credit 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 Credit Outstandings
shall not exceed the Revolving Credit Facility, (y) the aggregate Outstanding Amount of the
Revolving Credit Loans of any Revolving Credit Lender, plus such Lender’s Applicable Revolving
Credit Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such Lender’s
Revolving Credit 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.

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

     (A) the expiry date of such requested Letter of Credit would occur more
than twelve months after the date of issuance, unless the Required Revolving
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, unless all the Revolving Credit
Lenders have approved such expiry date.

     (C) such Letter of Credit is to be denominated in a currency other than
Dollars;

          (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

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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;

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

     (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
$100,000;

     (D) such Letter of Credit contains any provisions for automatic
reinstatement of the stated amount after any drawing thereunder; 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
hereunder, unless the L/C Issuer has entered into satisfactory arrangements
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 not amend any Letter of Credit if the L/C Issuer would not be
permitted at such time to issue such Letter of Credit in its amended form under the terms
hereof.

          (v) 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.

          (vi) The L/C Issuer shall act on behalf of the Revolving Credit 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 IX 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 IX 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.

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          (b) Procedures for Issuance and Amendment of 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 two 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 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; and (G) 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 (1)
the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a
Business Day); (3) the nature of the proposed amendment; and (4) 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 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 Revolving Credit 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
then 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 Revolving Credit 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 Revolving Credit Lender’s Applicable Revolving
Credit Percentage times the amount of such Letter of Credit.

               (iii) 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

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of Credit, the L/C Issuer shall notify the Borrower and the 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 an amount equal to the amount of such drawing. If the Borrower fails to so
reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each
Revolving Credit Lender of the Honor Date, the amount of the unreimbursed drawing (the
“Unreimbursed Amount”), and the amount of such Revolving Credit Lender’s Applicable
Revolving Credit Percentage thereof. In such event, the Borrower shall be deemed to have requested
a Revolving Credit Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount
equal to 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 Revolving Credit Commitments and the conditions set forth in Section
5.02 (other than the delivery of a Committed 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 Revolving Credit Lender shall upon any notice pursuant to Section 2.03(c)(i)
make funds available to the Administrative Agent for the account of the L/C Issuer at the
Administrative Agent’s Office in an amount equal to its Applicable Revolving Credit 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 Revolving Credit 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 Revolving
Credit 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 the amount 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 Revolving Credit 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 Revolving Credit Lender funds its Revolving Credit 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 Revolving Credit Percentage of
such amount shall be solely for the account of the L/C Issuer.

               (v) Each Revolving Credit Lender’s obligation to make Revolving Credit Loans to the Borrower
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

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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 Revolving Credit Lender’s
obligation to make Revolving Credit 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
Committed Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the
obligation of the Borrower to reimburse 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 Revolving Credit 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 greater of the Federal Funds Rate and a rate determined by
the L/C Issuer in accordance with banking industry rules on interbank compensation. A certificate
of the L/C Issuer submitted to any Revolving Credit Lender (through the Administrative Agent) with
respect to any amounts owing under this Section 2.03(c)(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 Revolving Credit 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 Revolving Credit 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) is required to be returned under any of the circumstances
described in Section 10.05 (including pursuant to any settlement entered into by the L/C
Issuer in its discretion), each Revolving Credit Lender shall pay to the Administrative Agent for
the account of the L/C Issuer its Applicable Revolving Credit 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 Federal Funds 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:

47

 

     (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;

     (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 of its
Subsidiaries.

          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 the 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 Revolving Credit Lenders or the
Required Revolving Lenders, as applicable; (ii) any action taken or omitted in the absence of gross
negligence or willful misconduct; or (iii) the due execution, effectiveness,

48

 

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. 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 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. Section 2.04 and
Section 8.02 set forth certain additional requirements to deliver Cash Collateral
hereunder. For purposes of this Section 2.03, Section 2.04, Section 2.16,
Section 8.02 and Section 8.03, “Cash Collateralize” means, in respect of an
obligation, to provide and pledge (as a first priority perfected security interest) cash collateral
(“Cash Collateral”) in Dollars, at a location and pursuant to documentation in form and
substance reasonably satisfactory to the Administrative Agent and, in the case of any L/C
Obligations to be Cash Collateralized, the L/C Issuer. 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,
non-interest bearing deposit accounts at Citibank. If at any time the Administrative Agent
determines that any funds held as Cash Collateral are subject to any right or claim of any Person
other than the Administrative Agent or that the total amount of such funds is less than the
aggregate Outstanding Amount of all L/C Obligations, the Borrower will, forthwith upon demand by
the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited as
Cash Collateral, an amount equal to the excess of (x) such aggregate Outstanding Amount over (y)
the total amount of funds, if any, then held as Cash Collateral that the Administrative Agent
determines to be free and clear of any such right and claim. Upon the drawing of any Letter of
Credit for which funds are on deposit as Cash Collateral, such funds shall be applied, to the
extent permitted under applicable Laws, to reimburse the L/C Issuer.

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          (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, (i) the rules of the ISP shall apply to each
standby Letter of Credit, and (ii) the rules of the UCP, 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 Revolving Credit Lender in accordance with its Applicable Revolving Credit
Percentage a Letter of Credit Fee (the “Letter of Credit Fee”) for each Letter of Credit
equal to the Applicable Rate times the daily 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
1.06. Letter of Credit Fees shall be (A) computed on a quarterly basis in arrears and (B) due
and payable on the last Business Day 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, upon the
request of the Required Revolving Lenders, 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 of 0.125%, computed on the daily amount available to
be drawn under such Letter of Credit 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 1.06. 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 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,

50

 

and that the Borrower’s business derives substantial benefits from the businesses of such
Subsidiaries.

          Section 2.04 Prepayments. (a) Optional. The Borrower may, upon notice to
the Administrative Agent, at any time or from time to time voluntarily prepay Term Loans and
Revolving Credit Loans in whole or in part without premium or penalty; provided, that in
the event that, on or prior to the first anniversary of the Closing Date, the Borrower (x) makes
any prepayment of Term Loans in connection with any Repricing Transaction or (y) effects any
amendment to this Agreement resulting in a Repricing Transaction, the Borrower shall pay to the
Administrative Agent, for the ratable account of each of the applicable Term Lenders, (I) in the
case of clause (x), a prepayment premium of 1% of the amount of the Term Loans being prepaid and
(II) in the case of clause (y), a payment equal to 1% of the aggregate amount of the applicable
Term Loans outstanding immediately prior to such amendment that were prepaid pursuant to such
amendment; provided, further, that (i) such notice must be received by the Administrative
Agent not later than 11:00 a.m. (A) three Business Days prior to any date of prepayment of
Eurodollar Rate Loans and (B) on the date of prepayment of Base Rate Loans; (ii) any prepayment of
Eurodollar Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $100,000
in excess thereof; and (iii) any prepayment of Base Rate Loans shall be in a principal amount of
$500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire
principal amount thereof then outstanding. Each such notice shall specify the date and amount of
such prepayment, the Type(s) of Loans to be prepaid and, in the case of a prepayment of Term Loans,
the amount of such prepayment to be applied to each Term Facility. The Administrative Agent will
promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s
ratable portion of such prepayment (based on such Lender’s Applicable Percentage in respect of the
relevant Facility). 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. Any prepayment of a Eurodollar 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 prepayment of the outstanding Loans pursuant to this Section
2.04(a) shall be applied (x) to the Facility or Facilities specified by the Borrower in the
related notice of prepayment and (y) within each Facility or Facilities to be prepaid, to the
principal repayment installments thereof as directed by the Borrower (and if not so directed, on a
pro rata basis), and each such prepayment shall be paid to the Lenders in accordance with their
respective Applicable Percentages in respect of each of the relevant Facilities.

          (b) Mandatory. (i) Within five Business Days after financial statements for any
fiscal year of the Borrower beginning with the fiscal year ended December 31, 2011 and the related
Compliance Certificate have been delivered pursuant to Section 7.01(d), the Borrower shall
prepay an aggregate principal amount of Loans equal to the excess (if any) of (A)(1) at any time
when the Cash Flow Ratio as of the end of the fiscal year of the Borrower in question is greater
than or equal to 4.50:1.00, 50% of Excess Cash Flow for such fiscal year, (2) at any time when the
Cash Flow Ratio as of the end of the fiscal year of the Borrower in question is greater than or
equal to 3.50:1.00 and less than 4.50:1.00, 25% and (3) at any time when the Cash Flow Ratio as of
the end of the fiscal year of the Borrower in question is less than 3.50:1.00, 0% of Excess Cash
Flow for such fiscal year, over (B) the aggregate principal amount of Term Loans prepaid
during such fiscal year pursuant to Sections 2.04(a) and 2.06(a).

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               (ii) If the Borrower or any of its Restricted Subsidiaries (A) Disposes of any property
or (B) suffers an Event of Loss, in each case, which results in the realization by such Person of
Net Cash Proceeds, the Borrower shall prepay, immediately upon receipt thereof by such Person, an
aggregate principal amount of Loans equal to 100% of such Net Cash Proceeds which, in the aggregate
with any other Net Cash Proceeds described in this Section 2.04(b)(ii) that have not been
used to prepay the Loans pursuant to this Section 2.04(b)(ii) or reinvested pursuant to the
proviso set forth below, exceeds $50,000,000; provided, however, that, with respect
to any Net Cash Proceeds described in this Section 2.04(b)(ii), at the election of the
Borrower (as notified by the Borrower to the Administrative Agent on or prior to the receipt of
such Net Cash Proceeds), and so long as no Default shall have occurred and be continuing, the
Borrower or such Restricted Subsidiary may reinvest all or any portion of such Net Cash Proceeds in
operating assets so long as within 365 days after the receipt of such Net Cash Proceeds, such
reinvestment shall have been consummated (as certified by the Borrower in writing to the
Administrative Agent); and provided further, however, that any Net Cash
Proceeds not so reinvested shall be immediately applied to the prepayment of the Loans as set forth
in this Section 2.04(b)(ii).

               (iii) Upon the incurrence or issuance by the Borrower or any of its Restricted Subsidiaries
of any Indebtedness (other than any Indebtedness expressly permitted to be incurred or issued
pursuant to Section 7.17), the Borrower shall prepay an aggregate principal amount of Loans
equal to 100% of all Net Cash Proceeds received therefrom immediately upon receipt thereof by the
Borrower or such Restricted Subsidiary.

               (iv) Each prepayment of Loans pursuant to the foregoing provisions of this Section
2.04(b) shall be applied, first, ratably to each of the Term Facilities and to the
remaining principal repayment installments thereof on a pro-rata basis and, second, to the
Revolving Credit Facility in the manner set forth in clause (vi) of this Section 2.04(b).

               (v) If for any reason the Total Revolving Credit Outstandings at any time exceed the Revolving
Credit Facility at such time, the Borrower shall immediately prepay Revolving Credit Loans,
Swingline Loans or L/C Borrowings or Cash Collateralize the L/C Obligations (other than the L/C
Borrowings) in an aggregate amount equal to such excess.

               (vi) Prepayments of the Revolving Credit Facility made pursuant to this Section
2.04(b), first, shall be applied ratably to the L/C Borrowings and the Swingline Loans,
second, shall be applied ratably to the outstanding Revolving Credit Loans, and,
third, shall be used to Cash Collateralize the remaining L/C Obligations; and, in the case
of prepayments of the Revolving Credit Facility required pursuant to clause (i) or (ii) of this
Section 2.04(b), the amount remaining, if any, after the prepayment in full of all L/C
Borrowings, Swingline Loans and Revolving Credit Loans outstanding at such time and the Cash
Collateralization of the remaining L/C Obligations in full (the sum of such prepayment amounts,
cash collateralization amounts and remaining amount being, collectively, the “Reduction
Amount”) may be retained by the Borrower for use in the ordinary course of its business.
Upon the drawing of any Letter of Credit that has been Cash Collateralized, the funds held as Cash
Collateral shall be applied (without any further action by or notice to or from the Borrower or any
other Loan Party) to reimburse the L/C Issuer or the Revolving Credit Lenders, as applicable.

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          Section 2.05 Termination or Reduction of Commitments. (a) Optional. The
Borrower may, upon notice to the Administrative Agent at any time, terminate the Revolving Credit
Facility, the Swingline Sublimit or the Letter of Credit Sublimit, or from time to time permanently
reduce the Revolving Credit Facility, the Swingline Sublimit or the Letter of Credit Sublimit, in
each case without premium or penalty; provided that (i) any such notice shall be received
by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of
termination or reduction, any such partial reduction shall be in an aggregate amount of $5,000,000
or any whole multiple of $1,000,000 in excess thereof and (iii) the Borrower shall not terminate or
reduce (A) the Revolving Credit Facility if, after giving effect thereto and to any concurrent
prepayments hereunder, the Total Revolving Credit Outstandings would exceed the Revolving Credit
Facility, (B) the Swingline Sublimit if, after giving effect thereto, the Outstanding Amount of the
Swingline Loans would exceed the Swingline Sublimit or (C) 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.

          (b) Mandatory. (i) The aggregate Term B Commitments shall be automatically and
permanently reduced to zero on the date of the Term B Borrowing.

               (ii) If after giving effect to any reduction or termination of Revolving Credit Commitments
under this Section 2.05 or the Letter of Credit Sublimit or the Swingline Sublimit exceeds
the Revolving Credit Facility at such time or the Letter of Credit Sublimit or Swingline Sublimit,
as the case may be, the Revolving Credit Facility shall be automatically reduced by the amount of
such excess.

               (iii) The Revolving Credit Facility shall be automatically and permanently reduced on each
date on which the prepayment of Revolving Credit Loans outstanding thereunder is required to be
made pursuant to Section 2.04(b)(i), (ii) or (iii) by an amount equal to
the applicable Reduction Amount.

          (c) Application of Commitment Reductions; Payment of Fees. The Administrative Agent
will promptly notify the Lenders of any termination or reduction of the Letter of Credit Sublimit,
Swingline Sublimit or the Revolving Credit Commitment under this Section 2.05. Upon any
reduction of the Revolving Credit Commitment, the Revolving Credit Commitment of each Revolving
Credit Lender shall be reduced by such Lender’s Applicable Revolving Credit Percentage of such
reduction amount. All fees in respect of the Revolving Credit Facility accrued until the effective
date of any termination of the Revolving Credit Facility shall be paid on the effective date of
such termination.

          (d) Termination of Defaulting Lender. The Borrower may terminate the unused amount of
the Commitment of any Lender that is a Defaulting Lender upon not less than five Business Days’
prior notice to the Administrative Agent (which shall promptly notify the Lenders thereof), and in
such event the provisions of Section 2.16(c) will apply to all amounts thereafter paid by
the Borrower for the account of such Defaulting Lender under this Agreement (whether on account of
principal, interest, fees, indemnity or other amounts), provided that (i) no Event of
Default shall have occurred and be continuing and (ii) such termination shall not be deemed to be a
waiver or release of any claim the Borrower, the Administrative Agent, the L/C Issuer, the
Swingline Lender or any Lender may have against such Defaulting Lender.

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          Section 2.06 Repayment of Loans. (a) Term B Loans. The Borrower shall repay
to the Term B Lenders the aggregate principal amount of all Term B Loans outstanding on the
following dates in the respective amounts set forth opposite such dates (which amounts shall be
reduced as a result of the application of prepayments in accordance with the order of priority set
forth in Section 2.04):

	 	 	 
	 	 	Principal
	 	 	Amortization Payment
	 	 	(shown as a % of Original
	Date	 	Principal Amount)
	March 31, 2011
	 	0.25%
	June 30, 2011
	 	0.25%
	September 30, 2011
	 	0.25%
	December 31, 2011
	 	0.25%
	March 31, 2012
	 	0.25%
	June 30, 2012
	 	0.25%
	September 30, 2012
	 	0.25%
	December 31, 2012
	 	0.25%
	March 31, 2013
	 	0.25%
	June 30, 2013
	 	0.25%
	September 30, 2013
	 	0.25%
	December 31, 2013
	 	0.25%
	March 31, 2014
	 	0.25%
	June 30, 2014
	 	0.25%
	September 30, 2014
	 	0.25%
	December 31, 2014
	 	0.25%
	March 31, 2015
	 	0.25%
	June 30, 2015
	 	0.25%
	September 30, 2015
	 	0.25%
	December 31, 2015
	 	0.25%
	March 31, 2016
	 	0.25%
	June 30, 2016
	 	0.25%
	September 30, 2016
	 	0.25%
	December 31, 2016
	 	0.25%
	March 31, 2017
	 	0.25%
	June 30, 2017
	 	0.25%
	September 30, 2017
	 	0.25%
	December 14, 2017
	 	Outstanding Principal Amount
	Total:
	 	100.00%

provided, however, that the final principal repayment installment of the Term B
Loans shall be repaid on the Maturity Date for the Term B Facility and in any event shall be in an
amount equal to the aggregate principal amount of all Term B Loans outstanding on such date; and
provided further, that with the prior written consent of the Term B Lenders holding
at least 10% of the outstanding Term B Loans, such consenting Term B Lenders can extend the
amortization schedule and the maturity of their Term B Loans as agreed upon among such consenting
Term B

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Lenders and the Borrower (with the new amortization schedule and Maturity Date thereafter applying
to such Term B Loans), and the Borrower may pay additional interest or an extension fee to, and as
agreed with, such consenting Term B Lenders with respect to such extension, without having any
obligation to make any additional payments with respect to such extension to non-consenting Term B
Lenders (and the pro rata payment provisions of Section 2.12 shall automatically be deemed
adjusted to reflect the provisions of this Section).

          (b) Revolving Credit Loans. The Borrower shall repay to the Revolving Credit Lenders
on the Maturity Date for the Revolving Credit Facility the aggregate principal amount of all
Revolving Credit Loans and Swingline Loans outstanding on such date; provided, that with
the prior written consent of the Revolving Credit Lenders holding at least 10% of the sum of (i)
the Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit
Lender’s risk participation and funded participation in L/C Obligations being deemed “held” by such
Revolving Credit Lender for purposes of this definition) and (ii) the aggregate unused Revolving
Credit Commitments, such consenting Revolving Credit Lenders may extend the maturity of their
Revolving Credit Commitments and Revolving Credit Loans as agreed upon among such consenting
Revolving Credit Lenders and the Borrower (with such new Maturity Date thereafter applying to such
Revolving Credit Commitments and Revolving Credit Loans), and the Borrower may pay an extension fee
to, and as agreed with, such Revolving Credit Lenders with respect to such extension without having
any obligation to make any additional payments with respect to such extension to non-consenting
Revolving Credit Lenders, (and the pro rata payment provisions of Section 2.12 shall
automatically be deemed adjusted to reflect the provisions of this Section).

          Section 2.07 Interest. (a) Subject to the provisions of Section 2.07(b), (i)
each Eurodollar Rate Loan under a Facility shall bear interest on the outstanding principal amount
thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest
Period plus the Applicable Rate for such Facility; and (ii) each Base Rate Loan under a Facility
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 for such Facility.

          (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 upon the request of the Required Lenders, 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) 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

55

 

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.

          Section 2.08 Fees. In addition to certain fees described in Section 2.03(i)
and (j):

     (a) Commitment Fee. The Borrower shall pay to the Administrative Agent for the
account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit
Percentage, a commitment fee (the “Commitment Fee”) on the actual daily amount by
which the Revolving Credit Facility exceeds the Total Revolving Credit Outstandings
(excluding the Outstanding Amount of Swingline Loans), at the rate of 0.75% per annum. 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 last day of the Availability Period for the Revolving Credit Facility. The
commitment fee shall be calculated quarterly in arrears.

     (b) Other Fees. (i) The Borrower shall pay to the Initial Lenders for their
own respective accounts fees in the amounts and at the times specified in the Facility Fee
Letter. Such fees shall not be refundable for any reason whatsoever.

          (ii) The Borrower shall pay to the Administrative Agent and the applicable L/C Issuer
for their own respective accounts fees in the amounts and at the times specified in the Fee
Letter and/or as mutually agreed in writing. Such fees shall not be refundable for any
reason whatsoever.

          (iii) The Borrower shall pay to the Lenders (or the Administrative Agent on behalf of
the Lenders) such fees as shall have been separately agreed upon in writing, to the Lenders
and in the amounts and at the times so specified. Such fees shall not be refundable for any
reason whatsoever.

     (c) Anything herein to the contrary notwithstanding, during such period as a Lender is
a Defaulting Lender, such Defaulting Lender shall not be entitled to any fees accruing
during such period pursuant to Section 2.03(i) and this Section 2.08
(without prejudice to the rights of the Non-Defaulting Lenders in respect of such fees),
provided that (a) to the extent that a portion of the L/C Obligations or the
Outstanding Amount of Swingline Loans of such Defaulting Lender is reallocated to the
Non-Defaulting Lenders pursuant to Section 2.16(b), such fees that would have
accrued for the benefit of such Defaulting Lender shall instead accrue for the benefit of
and be payable to such Non-Defaulting Lenders, pro rata in accordance with
their respective Commitments, and (b) to the extent of any portion of such L/C Obligations
or Outstanding Amount of Swingline Loans that cannot be so reallocated such fees shall
instead accrue for the benefit of and be payable to the L/C Issuer and the Swingline Lender
as their interests appear (and the pro rata payment provisions of
Section 2.12 shall automatically be deemed adjusted to reflect the provisions of
this Section); provided that if the Borrower Cash Collateralizes any

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portion of such Defaulting Lender’s L/C Obligations pursuant to Section 2.16(b), the
Borrower shall not be required to pay any Commitment Fee or Letter of Credit Fees with
respect to such Defaulting Lender’s L/C Obligations during the period such Defaulting
Lender’s L/C Obligations are Cash Collateralized.

          Section 2.09 Computation of Interest and Fees. All computations of interest for Base
Rate Loans when the Base Rate is determined by Citibank’s “prime rate” 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 2.11(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.

          Section 2.10 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 Note, which shall evidence such Lender’s Loans in addition to
such accounts or records. In the event such Note is issued with more than a de minimis amount of
original issue discount (“OID”) as defined in the Code, the Borrower shall legend the Note
by stating on its face that it was issued with OID in accordance with Treasury Regulations Section
1.1275-3(b). 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 Section 2.10(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. 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.

          Section 2.11 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

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provided herein, 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 immediately available funds not later than 2:00
p.m. on the date specified herein. The Administrative Agent will promptly distribute to each
Lender its Applicable Percentage in respect of the relevant Facility (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 after 2:00 p.m. shall be deemed
received on the next succeeding Business Day and any applicable interest or fee shall continue to
accrue. 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 on 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 Eurodollar 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 a 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 immediately available 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 greater of the Federal Funds Rate and a rate determined by the Administrative Agent in
accordance with banking industry rules on interbank compensation 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 time at 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 Appropriate 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
Appropriate 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 immediately available funds with interest thereon, for each day

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from and including the date such amount is distributed to it to but excluding the date of
payment to the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined
by the Administrative Agent in accordance with banking industry rules on interbank compensation.

          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
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
Term Loans and Revolving Credit Loans, to fund participations in Letters of Credit and to make
payments pursuant to Section 10.04(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
10.04(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
10.04(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, L/C Borrowings,
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 and L/C Borrowings then due hereunder, ratably among the parties entitled thereto in
accordance with the amounts of principal and L/C Borrowings then due to such parties.

          Section 2.12 Sharing of Payments by Lenders. If any Lender shall, by exercising any
right of setoff or counterclaim or otherwise, obtain payment in respect of (a) Obligations in
respect of any of the Facilities due and payable to such Lender hereunder and under the other Loan
Documents at such time in excess of its ratable share (according to the proportion of (i) the
amount of such Obligations due and payable to such Lender at such time to (ii) the aggregate amount
of the Obligations in respect of such Facilities due and payable to all Lenders hereunder and under
the other Loan Documents at such time) of payments on account of the Obligations in respect of such
Facilities due and payable to all Lenders hereunder and under the other Loan Documents at such time
obtained by all the Lenders at such time or (b) Obligations in respect of any of such Facilities
owing (but not due and payable) to such

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Lender hereunder and under the other Loan Documents at such time in excess of its ratable share
(according to the proportion of (i) the amount of such Obligations owing (but not due and payable)
to such Lender at such time to (ii) the aggregate amount of the Obligations in respect of such
Facilities owing (but not due and payable) to all Lenders hereunder and under the other Loan
Parties at such time) of payments on account of the Obligations in respect of the Facilities owing
(but not due and payable) to all Lenders hereunder and under the other Loan Documents at such time
obtained by all of the Lenders at such time 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 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 Obligations in respect of
the Facilities then due and payable to the Lenders or owing (but not due and payable) to the
Lenders, as the case may be, 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 (A) any
payment made by the Borrower pursuant to and in accordance with the express terms of
this Agreement or (B) 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 to any assignee or participant.

          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.

          Section 2.13 Increase in Commitments. (a) Request for Increase. Provided
that no Default shall have occurred and be continuing at such time or would result therefrom, upon
notice to the Administrative Agent (which shall promptly notify the Term Lenders), the Borrower may
on a one-time basis, request an increase in Term Loans by an aggregate amount not exceeding, when
taken together with all Incremental Term Loans incurred pursuant to Section 2.14,
$200,000,000; provided that any such request for an increase shall be in a minimum amount
of $50,000,000. At the time of sending such notice, the Borrower (in consultation with the
Administrative Agent) shall specify the time period within which each Term Lender is requested to
respond (which shall in no event be less than ten (10) Business Days from the date of delivery of
such notice to such Lenders by the Administrative Agent).

          (b) Lender Elections to Increase. Each Term Lender shall notify the Administrative
Agent within such time period whether or not it agrees to increase its Term Commitment, and, if so,
whether by an amount equal to, greater than, or less than its ratable portion (based on such Term
Lender’s Applicable Percentage in respect of the

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Term Facility) of such requested increase. Any Term Lender not responding within such time period shall be
deemed to have declined to increase its Term Loans.

          (c) Notification by Administrative Agent; Additional Lenders. The Administrative
Agent shall notify the Borrower and each Term Lender of the Term Lenders’ responses to each request
made hereunder. If the aggregate increase participated in by the existing Term Lenders is less
than the requested increase, then to achieve the full amount of the requested increase, and subject
to the approval of the Administrative Agent, the Borrower may also invite additional Eligible
Assignees to become Term Lenders, as applicable, pursuant to a joinder agreement in form and
substance reasonably satisfactory to the Administrative Agent and its counsel.

          (d) Effective Date and Allocations. If the Term Loans are increased in accordance
with this Section, the Administrative Agent and the Borrower shall determine the effective date
(the “Increase Effective Date”) and the final allocation of such increase. The
Administrative Agent shall promptly notify the Borrower and the Term Lenders, including the
proposed new lenders, as applicable, of the final allocation of such increase and the Increase
Effective Date. Such amendment may be signed by the Administrative Agent on behalf of the Lenders.

          (e) Conditions to Effectiveness of Increase. As a condition precedent to such
increase, (1) the Borrower shall deliver to the Administrative Agent a certificate of each Loan
Party dated as of the Increase Effective Date (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 such increase, and (ii) in the case of the Borrower,
certifying that, before and after giving effect to such increase, (A) the representations and
warranties contained in Article VI and the other Loan Documents are true and correct on and
as of the Increase Effective Date, 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 Section 2.13, the representations and warranties
contained in subsections (a) and (b) of Section 6.04 shall be deemed to refer to the most
recent statements furnished pursuant to clauses (b) and (a), respectively, of Section 7.01,
and (B) no Default exists. (2) all fees and expenses of the Administrative Agent and the Lenders in
connection with such increase shall have been paid on or prior to the Increase Effective Date, and
(3) on such Increase Effective Date, on a pro forma basis after giving effect to any such increase
in Term Loans, including any acquisitions consummated or payments of Indebtedness made with the
proceeds thereof, and any acquisitions or dispositions after the first day of the most recently
ended Quarter for which financial statements were delivered pursuant to Section 7.01 (such
pro forma basis to include, in the Borrower’s discretion, a reasonable estimate of savings
resulting from any such acquisition (A) that have been realized, (B) for which the steps necessary
for realization have been taken, or (C) for which the steps necessary for realization are
reasonably expected to be taken with 12 months of the date of such acquisition, in each case,
certified by the Borrower) but prior to or simultaneous with the borrowing of any such increased
Term Loans, the Borrower would be in compliance with (i) the financial maintenance covenants set
forth in Sections 7.31 and 7.32, recomputed as of the last day of the most recently
ended Quarter for which financial statements have been delivered pursuant to Section 7.01;
provided that the Cash Flow Ratio for purposes of determining such pro forma compliance
shall be determined in a manner to be more

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restrictive than the level otherwise applicable for the relevant test period by 0.25:1.00 and
(ii) a ratio of Consolidated Total Secured Debt to Annual Operating Cash Flow not exceeding
4.25:1.00. The additional Term Loans shall be made by the Term Lenders participating therein
pursuant to the procedures set forth in Section 2.02.

          (f) Conflicting Provisions. This Section shall supersede any provisions in
Section 2.12 to the contrary.

          Section 2.14 Incremental Term Facility. (a) Request for Incremental Term
Facility. Provided that no Default shall have occurred and be continuing at such time or would
result therefrom, at the option of the Borrower, the Incremental Term Lenders party thereto and the
Administrative Agent, on one or more occasions, and without the consent of any other Lender, a
separate tranche of commitments (“Incremental Term Commitments”) and loans
(“Incremental Term Loans”) may be established under this Agreement in an amount not
exceeding $200,000,000 minus the aggregate amount of any increase in the Term Loans in
accordance with Section 2.13; provided that any such request for an Incremental
Term Facility shall be in a minimum amount of $50,000,000.

          (b) The Borrower is entitled to elect, in its discretion, the Incremental Term Lender from
among the existing Lenders and any additional banks, financial institutions and other institutional
lenders or investors, subject to the consent of (i) such proposed Incremental Term Lender and (ii)
the Administrative Agent (which consent shall not be unreasonably withheld), if such consent would
be required under Section 10.06(b)(iii), for an assignment of loans or commitments, as
applicable, to such Incremental Term Lender.

          (c) Conditions to Effectiveness of Incremental Term Facility. As a condition
precedent to the effectiveness of each Incremental Term Facility, (1) the Borrower, the
Administrative Agent and the Incremental Term Lenders party thereto shall enter into a supplement
to this Agreement in substantially the form of Exhibit G hereto (an “Incremental Term
Supplement”) duly completed such that such Incremental Term Supplement shall set forth the
terms and conditions relating to such Incremental Term Facility, which, to the extent that they
differ from those applicable to the Term B Facility shall be reasonably acceptable to the
Administrative Agent (except to the extent that they are consistent with the provisos to this
clause (c)); provided that, in any event, such Incremental Term Facility shall (i)
not have a final maturity date earlier than the Maturity Date applicable to the Term B Facility or
a weighted average life to maturity shorter than the weighted average life to maturity of the Term
B Facility, (ii) be guaranteed only by the Guarantors hereunder, (iii) rank pari passu or junior in
right of payment and of security with the Term B Facility and (iv) except as to pricing and
amortization, shall have terms and documentation no more restrictive than the terms of the Term B
Loans unless such terms are reasonably satisfactory to the Administrative Agent; provided,
further, that in the event that the initial all-in yield for the Incremental Term Loans
under such Incremental Term Facility exceeds the all-in yield for the Term B Loans, then the
Applicable Rate for the Term B Loans shall be adjusted so that the all-in yield for the Incremental
Term Loans under such Incremental Term Facility does not exceed the all-in yield applicable to the
Term B Loans; provided that the determination of the all-in yield for the Term B Loans and
Incremental Term Loans under the Incremental Term Facility shall include the following items: (x)
interest rate margins, (y) Eurodollar Rate and Base Rate floors and (z) OID or upfront fees (which
shall be

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deemed to constitute like amounts of OID) payable to the Lenders in the primary syndication
thereof (with OID being equated to interest based on an assumed four-year life to maturity) and
shall exclude customary arrangement or commitment fees payable to the arrangers (or their
affiliates) of such loans, (2) the Borrower shall deliver to the Administrative Agent a certificate
of each Loan Party dated as of the effective date of the Incremental Term Facility (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 such Incremental
Term Facility, and (ii) in the case of the Borrower, certifying that, before and after giving
effect to such Incremental Term Facility, (A) the representations and warranties contained in
Article VI and the other Loan Documents are true and correct on and as of such effective
date, 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 Section 2.14, the representations and warranties contained in subsections
(a) and (b) of Section 6.04 shall be deemed to refer to the most recent statements
furnished pursuant to clauses (b) and (a), respectively, of Section 7.01, and (B) no
Default exists, and (3) all fees and expenses of the Administrative Agent and the Incremental Term
Lenders in connection with such Incremental Term Facility shall have been paid on or prior to the
effectiveness of such Incremental Term Facility. Upon the effective date of an Incremental Term
Supplement, each lender thereunder shall become an Incremental Term Lender hereunder and such
Incremental Term Supplement shall be deemed part of this Agreement for all purposes thereafter.

          (d) Any Incremental Term Loans shall be made available to the Borrower as set forth in the
applicable Incremental Term Supplement; provided that, on such date, on a pro forma basis
after giving effect to such increase in Term Loans, including any acquisitions consummated or
payments of Indebtedness made with the proceeds thereof, and any acquisitions or dispositions after
the first day of the most recently ended Quarter for which financial statements were delivered
pursuant to Section 7.01 (such pro forma basis to include , in the Borrower’s discretion, a
reasonable estimate of savings resulting from any such acquisition (A) that have been realized, (B)
for which the steps necessary for realization have been taken, or (C) for which the steps necessary
for realization are reasonably expected to be taken with 12 months of the date of such acquisition,
in each case, certified by the Borrower) but prior to or simultaneous with the borrowing of any
Incremental Term Loans, the Borrower would be in compliance with (i) the financial maintenance
covenants set forth in Sections 7.31 and 7.32, recomputed as of the last day of
the most recently ended Quarter for which financial statements have been delivered pursuant to
Section 7.01; provided that the Cash Flow Ratio for purposes of determining such
pro forma compliance shall be determined in a manner to be more restrictive than the level
otherwise applicable for the relevant test period by 0.25:1.00 and (ii) a ratio of Consolidated
Total Secured Debt to Annual Operating Cash Flow not exceeding 4.25:1.00.

          Section 2.15 Swingline Loans.

          (a) Swingline Borrowings.

          (i) Notices; Disbursement. Whenever the Borrower desires a Swingline Borrowing
hereunder it shall give irrevocable notice to the Swingline Lender not later than 1:00 p.m.
on the date of the requested Swingline Borrowing in the form of a Committed Loan Notice.
Subject to satisfaction of the conditions set forth herein, the

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Swingline Lender shall initiate the transfer of funds representing such Borrowing to
the Borrower by 3:00 p.m. on the Business Day specified by the Borrower in the applicable
Committed Loan Notice.

          (ii) Minimum Amounts. Each Swingline Borrowing shall be in a minimum principal
amount of $500,000 and integral multiples of $250,000, in excess thereof.

          (b) Repayment of Swingline Loans. Each Swingline Borrowing shall be due and payable
on the earliest of (i) ten days from the date of such Borrowing, (ii) the date of the next
succeeding Revolving Credit Borrowing, or (iii) the Maturity Date for the Revolving Credit
Facility; provided, however, the Borrower may prepay any Swingline Borrowing prior
to the date it is due upon notice to the Swingline Lender not later than 1:00 p.m. on the date of
prepayment of such Borrowing. 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, together with accrued interest to such date on the amount prepaid. If, and
to the extent, any Swingline Loans shall be outstanding on the date of any Revolving Credit
Borrowing, such Swingline Loans shall be repaid from the proceeds of such Revolving Credit
Borrowing prior to any distribution of such proceeds to the Borrower. If, and to the extent, a
Revolving Credit Borrowing is not requested prior to earlier of (A) the Maturity Date for the
Revolving Credit Facility or (B) the last day of any such ten day period from the date of any
Swingline Borrowing, the Borrower shall be deemed to have requested a Base Rate Loan on the
Business Day immediately preceding the Maturity Date for the Revolving Credit Facility or the last
day of such ten day period, as applicable, in the amount of the Swingline Loans then outstanding,
the proceeds of which shall be used to repay the Swingline Lender for such Swingline Loans. In
addition, the Swingline Lender may, at any time, in its sole discretion by written notice to the
Borrower and the Administrative Agent, require repayment of its Swingline Loans by way of a
Revolving Credit Loan, in which case the Borrower shall be deemed to have requested a Base Rate
Advance of the Revolving Credit Loans in the amount of such Swingline Loans; provided,
however, that any such demand shall be deemed to have been given one Business Day prior to
the Maturity Date for the Revolving Credit Facility and upon the occurrence of any Event of Default
described in Section 8.01(g) or 8.01(h) and also upon acceleration of the
Obligations, whether on account of an Event of Default described in Section 8.01(g) or
8.01(h) or any other Event of Default, in accordance with the provisions of Section
8.02 following an Event of Default (each such Revolving Credit Loan made on account of any such
deemed request therefor as provided herein being hereinafter referred to as a “Mandatory
Borrowing”). Each Lender hereby irrevocably agrees to make its Applicable Percentage of such
Revolving Credit Loans promptly upon any such request or deemed request on account of each
Mandatory Borrowing in the amount and in the manner specified in the preceding sentence and on the
same such date, notwithstanding (I) the amount of Mandatory Borrowing may not comply with the
minimum amount for advances of Revolving Credit Loans otherwise required hereunder, (II) whether
any conditions specified in Article V are then satisfied, (III) whether a Default then
exists, (IV) failure for any such request or deemed request for Revolving Credit Loans to be made
by the time otherwise required in Section 2.02, (V) the date of such Mandatory Borrowing,
or (VI) any reduction in the Revolving Credit Commitment or termination of the Revolving Credit
Commitment relating thereto immediately prior to such Mandatory Borrowing or contemporaneously
therewith; provided, however, that no Lender shall

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be required to make
such Revolving Credit Loans if, at the time that the Swingline Lender agreed to fund any
requested Swingline Borrowing, the Swingline Lender had knowledge of the existence of a Default or
such Mandatory Borrowing would cause a Lender to exceed its Revolving Credit Commitment. In the
event that any Mandatory Borrowing cannot for any reason be made on the date otherwise required
above (including, without limitation, as a result of the commencement of any proceeding under any
Debtor Relief Laws with respect to the Borrower or any other obligor hereunder), then each
Revolving Credit Lender hereby agrees that it shall forthwith purchase (as of the date the
Mandatory Borrowing would otherwise have occurred, but adjusted for any payments received from the
Borrower on or after such date and prior to such purchase) from the Swingline Lender such
participations in the outstanding Swingline Loans as shall be necessary to cause each such
Revolving Credit Lender to share in such Swingline Loans ratably based upon its respective
Applicable Percentage in respect of the Revolving Credit Facility (determined before giving effect
to any termination of the Revolving Credit Commitment pursuant to Section 8.02), provided
that (A) all interest payable on the Swingline Loans shall be for the account of the Swingline
Lender until the date as of which the respective participation is purchased, and (B) at the time
any purchase of participations pursuant to this sentence is actually made, the purchasing Lender
shall be required to pay (to the extent not paid by the Borrower) to the Swingline Lender interest
on the principal amount of participation purchased for each day from and including the day upon
which the Mandatory Borrowing would otherwise have occurred but excluding the date of payment for
such participation, at the rate equal to, if paid within two Business Days of the date of the
Mandatory Borrowing, the Federal Funds Rate, and thereafter at a rate equal to the Base Rate.

          (c) Interest on Swingline Loans. Swingline Loans shall bear interest at the simple
per annum interest rate equal to the sum of (x) the Base Rate and (y) the Applicable Rate then in
effect with respect to Base Rate Loans under the Revolving Credit Facility, computed on the basis
of a year of 365/366 days for the actual number of days elapsed; provided, however,
that (i) from and after any failure to make any payment of principal or interest in respect of any
of the Loans hereunder when due (after giving effect to any applicable grace period), whether at
scheduled or accelerated maturity or on account of any mandatory prepayment or (ii) while any
Swingline Loans in which the Lenders have acquired participations pursuant to Section
2.15(b) remain outstanding, the principal of and, to the extent permitted by law, interest on,
Swingline Loans shall bear interest, payable on demand, at the Default Rate. Interest on each
Swingline Loan shall be payable in arrears on the date payment of such Swingline Loan is due
pursuant to Section 2.15(b).

          (d) Reporting. Unless the Swingline Lender is the Administrative Agent, the Swingline
Lender shall provide to the Administrative Agent, on Friday of each week and on each date the
Administrative Agent notifies the Swingline Lender that the Borrower has delivered a Committed Loan
Notice or the Administrative Agent otherwise requests the same, an accounting for the outstanding
Swingline Loans in form reasonably satisfactory to the Administrative Agent.

          (e) Termination of Swingline Loans; Designation of Swingline Lender. Unless a Default
then exists, the Swingline Lender shall give the Borrower and the Administrative Agent at least
seven days’ prior written notice before exercising its discretion herein not to make Swingline
Loans. The Borrower must give ten days’ prior written notice to the Administrative Agent of any
change in designation of the Swingline Lender. The replaced

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Swingline Lender shall continue to be a “Swingline Lender” for purposes of repayment
of any Swingline Loans made prior to such replacement and outstanding after such replacement.

          Section 2.16 Cash Collateral; Defaulting Lenders. (a) If any Lender becomes, and during
the period it remains, a Defaulting Lender or a Potential Defaulting Lender, if any Letter of
Credit or Swingline Loan is at the time outstanding, the L/C Issuer and the Swingline Lender, as
the case may be, may (except, in the case of a Defaulting Lender, to the extent the Commitments
have been reallocated pursuant to Section 2.16(b)), by notice to the Borrower and such
Defaulting Lender or Potential Defaulting Lender through the Administrative Agent, require the
Borrower to Cash Collateralize the obligations of the Borrower to the L/C Issuer and the Swingline
Lender in respect of such Letter of Credit or Swingline Loan, as the case may be, in amount at
least equal to the aggregate amount of the unallocated obligations (contingent or otherwise) of
such Defaulting Lender or such Potential Defaulting Lender in respect thereof, or to make other
arrangements satisfactory to the Administrative Agent, and to the L/C Issuer and the Swingline
Lender, as the case may be, in their reasonable discretion to protect them against the risk of
non-payment by such Defaulting Lender or Potential Defaulting Lender.

          (b) In addition to the other conditions precedent herein set forth, if any Lender becomes, and
during the period it remains, a Defaulting Lender or a Potential Defaulting Lender, the L/C Issuer
will not be required to issue any Letter of Credit or to amend any outstanding Letter of Credit,
and the Swingline Lender will not be required to make any Swingline Loan, unless:

          (i) in the case of a Defaulting Lender, the L/C Obligations and the Outstanding Amount
of Swingline Loans of such Defaulting Lender is reallocated, as to outstanding and future
Letters of Credit and Swingline Loans, to the Non-Defaulting Lenders as provided in clause
(i) of Section 2.16(c), and

          (ii) to the extent full reallocation does not occur as provided in clause (i) above,
the Borrower Cash Collateralizes the obligations of the Borrower in respect of such Letter
of Credit or Swingline Loan in an amount at least equal to the aggregate amount of the
unallocated obligations (contingent or otherwise) of such Defaulting Lender or such
Potential Defaulting Lender in respect of such Letter of Credit or Swingline Loan, or makes
other arrangements satisfactory to the Administrative Agent, the L/C Issuer and the
Swingline Lender in their reasonable discretion to protect them against the risk of
non-payment by such Defaulting Lender or Potential Defaulting Lender, or

          (iii) to the extent that neither reallocation nor Cash Collateralization occurs
pursuant to clauses (i) or (ii), then in the case of a proposed issuance of a Letter of
Credit or making of a Swingline Loan, by an instrument or instruments in form and substance
satisfactory to the Administrative Agent, and to the L/C Issuer and the Swingline Lender,
as the case may be, (i) the Borrower agrees that the face amount of such requested Letter of
Credit or the principal amount of such requested Swingline Loan will be reduced by an amount
equal to the unallocated, non Cash-Collateralized portion thereof as to which such
Defaulting Lender or Potential Defaulting Lender would

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otherwise be liable, and (ii) the Non-Defaulting Lenders confirm, in their discretion,
that their obligations in respect of such Letter of Credit or Swingline Loan shall be on a
pro rata basis in accordance with the Commitments of the Non-Defaulting
Lenders, and that the pro rata payment provisions of Section 2.12
will be deemed adjusted to reflect this provision (provided that nothing in this
clause (iii) will be deemed to increase the Commitment of any Lender, nor to constitute a
waiver or release of any claim the Borrower, the Administrative Agent, the L/C Issuer, the
Swingline Lender or any other Lender may have against such Defaulting Lender, nor to cause
such Defaulting Lender to be a Non-Defaulting Lender).

          (c) If a Lender becomes, and during the period it remains, a Defaulting Lender, the following
provisions shall apply with respect to any outstanding L/C Obligations and any outstanding
Outstanding Amount of Swingline Loans of such Defaulting Lender:

          (i) the L/C Obligations and the Outstanding Amount of Swingline Loans of such
Defaulting Lender will, upon notice by the Administrative Agent, and subject in any event to
the limitation in the first proviso below, automatically be reallocated (effective on the
day such Lender becomes a Defaulting Lender) among the Non-Defaulting Lenders pro
rata in accordance with their respective Commitments; provided that (a) the
sum of the total outstanding Revolving Credit Loans and Swingline Loans owed to each
Non-Defaulting Lender and its total L/C Obligations may not in any event exceed the
Commitment of such Non-Defaulting Lender as in effect at the time of such reallocation, (b)
such reallocation will not constitute a waiver or release of any claim the Borrower, the
Administrative Agent, the L/C Issuer, the Swingline Lender or any other Lender may have
against such Defaulting Lender, and (c) neither such reallocation nor any payment by a
Non-Defaulting Bank as a result thereof will cause such Defaulting Lender to be a
Non-Defaulting Lender;

          (ii) to the extent that any portion (the “unreallocated portion”) of the
Defaulting Lender’s L/C Obligations and Outstanding Amounts of Swingline Loans cannot be so
reallocated, whether by reason of the first proviso in clause (i) above or otherwise, the
Borrower will, not later than three Business Days after demand by the Administrative Agent,
(a) Cash Collateralize the obligations of the Borrower to the L/C Issuer and the Swingline
Lender in respect of such L/C Obligations or Outstanding Amounts of Swingline Loans, as the
case may be, in an amount at least equal to the aggregate amount of the unreallocated
portion of such L/C Obligations or Outstanding Amounts of Swingline Loans, (b) in the case
of such Outstanding Amount of Swingline Loans prepay in full the unreallocated portion
thereof, or (c) make other arrangements satisfactory to the Administrative Agent, and to
the L/C Issuer and the Swingline Lender, as the case may be, in their reasonable discretion
to protect them against the risk of non-payment by such Defaulting Lender; and

          (iii) any amount paid by the Borrower for the account of a Defaulting Lender under this
Agreement (whether on account of principal, interest, fees, indemnity payments or other
amounts) will not be paid or distributed to such Defaulting Lender, but shall instead be
retained by the Administrative Agent in a segregated escrow account

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until (subject to Section 2.16(e)) the termination of the Commitments and
payment in full of all obligations of the Borrower hereunder and will be applied by the
Administrative Agent, to the fullest extent permitted by law, to the making of payments from
time to time in the following order of priority:

     First to the payment of any amounts owing by such Defaulting Lender to the
Administrative Agent under this Agreement,

     second to the payment of any amounts owing by such Defaulting Lender to the L/C
Issuer or the Swingline Lender (pro rata as to the respective amounts owing
to each of them) under this Agreement,

     third to the payment of post-default interest and then current interest due and
payable to the Non-Defaulting Lenders hereunder, ratably among them in accordance with the
amounts of such interest then due and payable to them,

     fourth to the payment of fees then due and payable to the Non-Defaulting
Lenders hereunder, ratably among them in accordance with the amounts of such fees then due
and payable to them,

     fifth to pay principal and unreimbursed L/C Borrowings then due and payable to
the Non-Defaulting Lenders hereunder ratably in accordance with the amounts thereof then due
and payable to them,

     sixth to the ratable payment of other amounts then due and payable to the
Non-Defaulting Lenders, and

     seventh after the termination of the Commitments and payment in full of all
obligations of the Borrower hereunder, to pay amounts owing under this Agreement to such
Defaulting Lender or as a court of competent jurisdiction may otherwise direct.

          (d) In furtherance of the foregoing, if any Lender becomes, and during the period it remains,
a Defaulting Lender or a Potential Defaulting Lender, each of the L/C Issuer and the Swingline
Lender is hereby authorized by the Borrower (which authorization is irrevocable and coupled with an
interest) to give, through the Administrative Agent, Committed Loan Notices pursuant to Section
2.03(c)(v) in such amounts and in such times as may be required to (i) reimburse an outstanding
L/C Borrowing, (ii) repay an outstanding Swingline Loans, or (iii) Cash Collateralize the
obligations of the Borrower in respect of outstanding Letters of Credit or Swingline Loans in an
amount at least equal to the aggregate amount of the unallocated obligations (contingent or
otherwise) of such Defaulting Lender or Potential Defaulting Lender in respect of such Letter of
Credit or Swingline Loan.

          (e) If the Borrower, the Administrative Agent, the L/C Issuer and the Swingline Lender agree
in writing that a Lender that is a Defaulting Lender should no longer be deemed to be a Defaulting
Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective
date specified in such notice and subject to any conditions set forth therein (which may include
arrangements with respect to any amounts then held in the
segregated escrow account referred to in Section 2.16(c)), such Lender shall purchase
such

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portions of the outstanding Loans of the other Lenders, and/or make such other adjustments, as
the Administrative Agent may determine to be necessary to cause the Lenders to hold Loans on a
pro rata basis in accordance with their respective Commitments, whereupon such
Lender shall cease to be a Defaulting Lender and will be a Non-Defaulting Lender (and the L/C
Obligations and Outstanding Amount of Swingline Loans of each Lender shall automatically be
adjusted on a prospective basis to reflect the foregoing); provided that no adjustments
shall be made retroactively with respect to fees accrued or payments made by or on behalf of the
Borrower and applied as set forth in Section 2.16(c)(iii) while such Lender was a
Defaulting Lender; and provided, further, that except to the extent otherwise
expressly agreed by the affected parties, no change hereunder from Defaulting Lender to
Non-Defaulting Lender shall constitute a waiver or release of any claim of any party hereunder
arising from such Lender’s having been a Defaulting Lender.

          (f) If any Lender is a Defaulting Lender, the Borrower may, upon at least five Business Days’
written notice to the Administrative Agent (which shall then give prompt notice thereof to the
relevant Lender), replace such Lender with an Eligible Assignee selected by the Borrower in
accordance with Section 10.12; provided, however, that no Event of Default
shall have occurred and be continuing at the time of such request and at the time of such
assignment; provided, further, that the assigning Lender’s rights under
Sections 3.01, 3.04 and 10.04, and its obligations under Section
10.04, shall survive such assignment as to matters occurring prior to the date of assignment.

ARTICLE III

TAXES, YIELD PROTECTION AND ILLEGALITY

          Section 3.01 Taxes. (a) Payments Free of Taxes. Any and all payments by or
on account of any obligation of the Borrower hereunder or under any other Loan Document shall be
made free and clear of and without reduction or withholding for any Indemnified Taxes or Other
Taxes, provided that if the Borrower shall be required by applicable law to deduct any
Indemnified Taxes (including any Other Taxes) from such payments, then (i) the sum payable shall be
increased as necessary so that after making all required deductions (including deductions
applicable to additional sums payable under this Section) the Administrative Agent, any Lender or
the L/C Issuer, as the case may be, receives an amount equal to the sum it would have received had
no such deductions been made, (ii) the Borrower shall make such deductions and (iii) the Borrower
shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with
applicable law.

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

          (c) Indemnification by the Borrower. The Borrower shall indemnify the Administrative
Agent, each Lender and the L/C Issuer, within 10 days after demand therefor, for the full amount of
any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or
asserted on or attributable to amounts payable under this Section) paid by the
Administrative Agent, such Lender or the L/C Issuer, as the case may be, and any penalties,

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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; provided that the Borrower shall not indemnify the Administrative
Agent, any Lender or the L/C Issuer for any penalties or interest that are imposed solely as a
result of gross negligence or willful misconduct of the Administrative Agent, any Lender or the L/C
Issuer. A certificate as to the amount of such payment or liability delivered to the Borrower by a
Lender or 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. If, in the reasonable discretion of the Borrower, any Indemnified Taxes or Other Taxes are
incorrectly or not legally imposed or asserted by the relevant Governmental Authority, the
Administrative Agent, each Lender or the L/C Issuer, as the case may be, shall, at the expense of
the Borrower, use commercially reasonable efforts to cooperate with the Borrower to recover and
promptly remit such Indemnified Taxes or Other Taxes to Borrower in accordance with subsection (f)
of this Section. Nothing contained herein shall derogate from the right of any Lender, the
Administrative Agent or the L/C Issuer to arrange its tax affairs in whatever manner it sees fit
nor shall require any Lender, the Administrative Agent or the L/C Issuer to disclose any
information relating to its tax affairs that it deems confidential other than as required under
Section 3.01(e).

          (d) Evidence of Payments. As soon as practicable after any payment of Indemnified
Taxes or Other Taxes by the Borrower to a Governmental Authority, the Borrower shall deliver to the
Administrative Agent the original or a certified copy of a receipt issued by such Governmental
Authority evidencing such payment, a copy of the return reporting such payment or other evidence of
such payment reasonably satisfactory to the Administrative Agent.

          (e) Status of Lenders. Any Foreign Lender that is entitled to an exemption from or
reduction of withholding tax under the law of the jurisdiction in which the Borrower is resident
for tax purposes, or any treaty to which such jurisdiction is a party, with respect to payments
hereunder or under any other Loan Document shall deliver to the Borrower (with a copy to the
Administrative Agent), at the time or times prescribed by applicable law or reasonably requested by
the Borrower or the Administrative Agent, such properly completed and executed documentation
prescribed by applicable law as will permit such payments to be made without withholding or at a
reduced rate of withholding. In addition, any Lender, if requested by the Borrower or the
Administrative Agent, shall deliver such other documentation prescribed by applicable law or
reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the
Administrative Agent to determine whether or not such Lender is subject to backup withholding or
information reporting requirements.

          Without limiting the generality of the foregoing, if the Borrower is resident for tax purposes
in the United States, any Foreign Lender 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:

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

     (ii) duly completed copies of Internal Revenue Service Form W-8ECI,

     (iii) in the case of a Foreign Lender claiming the benefits of the exemption
for portfolio interest under section 881(c) of the Code, (A) a certificate to the
effect that such Foreign Lender is not (1) a “bank” within the meaning of section
881(c)(3)(A) of the Code, (2) a “10 percent shareholder” of the Borrower within the
meaning of section 881(c)(3)(B) of the Code, or (3) a “controlled foreign
corporation” described in section 881(c)(3)(C) of the Code and (B) duly completed
copies of Internal Revenue Service Form W-8BEN, or

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

          (f) Treatment of Certain Refunds. If the Administrative Agent, any Lender or the L/C
Issuer receives a refund of any Taxes or Other Taxes as to which it has been indemnified by the
Borrower or with respect to which the Borrower has paid additional amounts pursuant to this
Section, it shall pay to the Borrower an amount equal to such refund (but only to the extent of
indemnity payments made, or additional amounts paid, by the Borrower under this Section with
respect to the Taxes or Other Taxes giving rise to such refund), net of all reasonable
out-of-pocket expenses of 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 the Borrower, upon the request of the Administrative
Agent, such Lender or the L/C Issuer, agrees to repay the amount paid over to the Borrower (plus
any penalties, interest or other charges imposed by the relevant Governmental Authority) to the
Administrative Agent, such Lender or the L/C Issuer if the Administrative Agent, such Lender or the
L/C Issuer is required to repay such refund to such Governmental Authority. 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.

          Section 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 Eurodollar Rate Loans, or to determine or
charge interest rates based upon the Eurodollar 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 Eurodollar Rate
Loans or to convert Base Rate Loans to Eurodollar Rate Loans 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

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Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay
or, if applicable, convert all Eurodollar Rate Loans of such Lender to Base Rate Loans, either on
the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such
Eurodollar Rate Loans to such day, or immediately, if such Lender may not lawfully continue to
maintain such Eurodollar Rate Loans. Upon any such prepayment or conversion, the Borrower shall
also pay accrued interest on the amount so prepaid or converted.

          Section 3.03 Inability to Determine Rates. If the Required Lenders determine that for
any reason in connection with any request for a Eurodollar Rate 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 Eurodollar Rate
Loan, (b) adequate and reasonable means do not exist for determining the Eurodollar Base Rate for
any requested Interest Period with respect to a proposed Eurodollar Rate Loan, or (c) the
Eurodollar Base Rate for any requested Interest Period with respect to a proposed Eurodollar Rate
Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the
Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, the
obligation of the Lenders to make or maintain Eurodollar Rate Loans 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 Eurodollar Rate Loans or, failing that, will be deemed to have converted such
request into a request for a Committed Borrowing of Base Rate Loans in the amount specified
therein.

          Section 3.04 Increased Costs; Reserves on Eurodollar Rate Loans. (a) Increased
Costs Generally. If any Change in Law shall:

     (i) impose, modify or deem applicable any reserve, special deposit, compulsory
loan, insurance charge or similar requirement against assets of, deposits with or
for the account of, or credit extended or participated in by, any Lender (except any
reserve requirement reflected in the Eurodollar Rate contemplated by Section
3.04(e)) 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 Eurodollar 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);
or

     (iii) impose on any Lender or the L/C Issuer or the London interbank market any
other condition, cost or expense affecting this Agreement or Eurodollar 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 Eurodollar Rate Loan (or of maintaining its obligation to make any such Loan),

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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 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).

          (e) Reserves on Eurodollar Rate Loans. The Borrower shall pay to each Lender, as long
as such Lender shall be required to maintain reserves with respect to liabilities or assets
consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency
liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan
equal to the actual costs of such reserves allocated to such Loan by such Lender (as

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determined by such Lender in good faith, which determination shall be conclusive), which shall
be due and payable on each date on which interest is payable on such Loan, provided that
the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative
Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days
prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10
days from receipt of such notice.

          Section 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; or

     (c) any assignment of a Eurodollar 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
10.12;

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 reasonable 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 Eurodollar Rate Loan made by
it at the Eurodollar Base Rate used in determining the Eurodollar 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 Eurodollar Rate Loan was in fact so funded.

          Section 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 or any Governmental Authority
for the account of any Lender pursuant to Section 3.01, or if any Lender gives a notice
pursuant to Section 3.02, then such Lender shall 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, such designation or assignment (i) would eliminate or reduce amounts payable pursuant
to Section 3.01 or Section 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 to any unreimbursed cost or expense and would not otherwise be
disadvantageous to such

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Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by
any Lender 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 a notice pursuant to Section 3.02, the Borrower may replace such Lender in
accordance with Section 10.12.

          Section 3.07 Survival. All of the Borrower’s obligations under this Article
III shall survive termination of the Aggregate Commitments and repayment of all other
Obligations hereunder.

ARTICLE IV

GUARANTY

          Section 4.01 Guaranty. Each of the Guarantors hereby, jointly and severally,
absolutely and unconditionally guarantees, as a guaranty of payment and performance and not merely
as a guaranty of collection, prompt payment when due, whether at stated maturity, by required
prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all of
the Obligations, whether for principal, interest, premiums, fees, indemnities, damages, costs,
expenses or otherwise, of the Borrower to the Secured Parties, arising hereunder and under the
other Loan Documents (including all renewals, extensions, amendments, refinancings and other
modifications thereof and all costs, attorneys’ fees and expenses incurred by the Secured Parties
in connection with the collection or enforcement thereof). The Administrative Agent’s books and
records showing the amount of the Obligations shall be admissible in evidence in any action or
proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose of
establishing the amount of the Obligations, absent manifest error. This Guaranty shall not be
affected by the genuineness, validity, regularity or enforceability of the Obligations or any
instrument or agreement evidencing any Obligations, or by the existence, validity, enforceability,
perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance
relating to the Obligations which might otherwise constitute a defense to the obligations of any
Guarantor under this Guaranty, and each Guarantor hereby irrevocably waives any defenses it may now
have or hereafter acquire in any way relating to any or all of the foregoing.

          Section 4.02 Rights of Lenders. Each Guarantor consents and agrees that the Secured
Parties may, at any time and from time to time, without notice or demand, and without affecting the
enforceability or continuing effectiveness hereof: (a) amend, extend, renew, compromise,
discharge, accelerate or otherwise change the time for payment or the terms of the Obligations or
any part thereof; (b) take, hold, exchange, enforce, waive, release, fail to perfect, sell, or
otherwise dispose of any security for the payment of this Guaranty or any Obligations; (c) apply
such security and direct the order or manner of sale thereof as the Administrative Agent, the L/C
Issuer and the Lenders in their sole discretion may determine; and (d) release or substitute one or
more of any endorsers or other guarantors of any of the Obligations. Without limiting the
generality of the foregoing, each Guarantor consents to the taking of, or failure to take, any
action which might in any manner or to any extent vary the risks of such Guarantor

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under this Guaranty or which, but for this provision, might operate as a discharge of such
Guarantor.

          Section 4.03 Certain Waivers. Each Guarantor waives (a) any defense arising by reason
of any disability, change in corporate existence or structure or other defense of the Borrower or
any other Guarantor, or the cessation from any cause whatsoever (including any act or omission of
any Secured Party) of the liability of the Borrower or any other Guarantor; (b) any defense based
on any claim that such Guarantor’s obligations exceed or are more burdensome than those of the
Borrower or any other Guarantor; (c) the benefit of any statute of limitations affecting such
Guarantor’s liability hereunder; (d) any right to proceed against the Borrower, proceed against or
exhaust any security for the Obligations, or pursue any other remedy in the power of any Secured
Party whatsoever; (e) any benefit of and any right to participate in any security now or hereafter
held by any Secured Party; and (f) to the fullest extent permitted by law, any and all other
defenses or benefits that may be derived from or afforded by applicable law limiting the liability
of or exonerating guarantors or sureties. Each Guarantor expressly waives all setoffs and
counterclaims and all presentments, demands for payment or performance, notices of nonpayment or
nonperformance, protests, notices of protest, notices of dishonor and all other notices or demands
of any kind or nature whatsoever with respect to the Obligations, and all notices of acceptance of
this Guaranty or of the existence, creation or incurrence of new or additional Obligations.

          Section 4.04 Obligations Independent. The obligations of each Guarantor hereunder are
those of primary obligor, and not merely as surety, and are independent of the Obligations and the
obligations of any other Guarantor, and a separate action may be brought against such Guarantor to
enforce this Guaranty whether or not the Borrower or any other Person is joined as a party.

          Section 4.05 Subrogation. Each Guarantor shall not exercise any right of subrogation,
contribution, indemnity, reimbursement or similar rights with respect to any payments it makes
under this Guaranty until all of the Obligations and any amounts payable under this Guaranty have
been indefeasibly paid and performed in full and the Commitments and the Facilities are terminated.
If any amounts are paid to any Guarantor in violation of the foregoing limitation, then such
amounts shall be held in trust for the benefit of the Secured Parties and shall forthwith be paid
to the Secured Parties to reduce the amount of the Obligations, whether matured or unmatured.

          Section 4.06 Termination; Reinstatement. This Guaranty is a continuing and
irrevocable guaranty of all Obligations now or hereafter existing and shall remain in full force
and effect until all Obligations and any other amounts payable under this Guaranty are indefeasibly
paid in full in cash and the Commitments and the Facilities with respect to the Obligations are
terminated. Notwithstanding the foregoing, this Guaranty shall continue in full force and effect
or be revived, as the case may be, if any payment by or on behalf of the Borrower or any Guarantor
is made, or any of the Secured Parties exercises its right of setoff, in respect of the Obligations
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 any of the Secured Parties in their discretion) to be repaid to a
trustee, receiver or any other party, in connection with any

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proceeding under any Debtor Relief Laws or otherwise, all as if such payment had not been made
or such setoff had not occurred and whether or not the Secured Parties are in possession of or have
released this Guaranty and regardless of any prior revocation, rescission, termination or
reduction. The obligations of each Guarantor under this paragraph shall survive termination of
this Guaranty.

          Section 4.07 Subordination. Each Guarantor hereby subordinates the payment of all
obligations and indebtedness of the Borrower owing to such Guarantor, whether now existing or
hereafter arising, including but not limited to any obligation of the Borrower to such Guarantor as
subrogee of the Secured Parties or resulting from such Guarantor’s performance under this Guaranty,
to the indefeasible payment in full in cash of all Obligations. If the Secured Parties so request,
any such obligation or indebtedness of the Borrower to any Guarantor shall be enforced and
performance received by such Guarantor as trustee for the Secured Parties and the proceeds thereof
shall be paid over to the Secured Parties on account of the Obligations, but without reducing or
affecting in any manner the liability of such Guarantor under this Guaranty.

          Section 4.08 Stay of Acceleration. If acceleration of the time for payment of any of
the Obligations is stayed, in connection with any case commenced by or against any Guarantor or the
Borrower under any Debtor Relief Laws, or otherwise, all such amounts shall nonetheless be payable
by such Guarantor immediately upon demand by the Secured Parties.

          Section 4.09 Condition of Borrower. Each Guarantor acknowledges and agrees that it
has the sole responsibility for, and has adequate means of, obtaining from the Borrower and any
other Guarantor such information concerning the financial condition, business and operations of the
Borrower and any such other Guarantor as such Guarantor requires, and that none of the Secured
Parties has any duty, and such Guarantor is not relying on the Secured Parties at any time, to
disclose to such Guarantor any information relating to the business, operations or financial
condition of the Borrower or any other Guarantor (such Guarantor waiving any duty on the part of
the Secured Parties to disclose such information and any defense relating to the failure to provide
the same).

          Section 4.10 Limitation on Guaranty. It is the intention of the Guarantors, the
Lenders and the Borrower that the obligations of each Guarantor hereunder shall be in, but not in
excess of, the maximum amount permitted by applicable law. To that end, but only to the extent
such obligations would otherwise be avoidable, the obligations of each Guarantor hereunder shall be
limited to the maximum amount that, after giving effect to the incurrence thereof, would not render
such Guarantor insolvent or unable to make payments in respect of any of its indebtedness as such
indebtedness matures or leave such Guarantor with an unreasonably small capital. The need for any
such limitation shall be determined, and any such needed limitation shall be effective, at the time
or times that such Guarantor is deemed, under applicable law, to incur the Obligations hereunder.
Any such limitation shall be apportioned amongst the Obligations pro rata in accordance with the
respective amounts thereof. This paragraph is intended solely to preserve the rights of the
Lenders under this Agreement to the maximum extent permitted by applicable law, and neither the
Guarantors, the Borrower nor any other Person shall have any right under this paragraph that it
would not otherwise have under applicable law. The Borrower and each Guarantor agree not to
commence any proceeding or action seeking to limit the amount of the obligation of such Guarantor
under this Article IV by

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reason of this paragraph. For the purposes of this paragraph, “insolvency”, “unreasonably
small capital” and “unable to make payments in respect of any of its indebtedness as such
indebtedness matures” shall be determined in accordance with applicable law.

          Section 4.11 Guaranty Supplements. Upon the execution and delivery by any Person of a
guaranty supplement in substantially the form of Exhibit J hereto (each, a “Subsidiary
Guaranty Supplement”), (i) such Person shall become and be a Guarantor hereunder, and each
reference in the Loan Documents to a “Guarantor” shall also mean and be a reference to such Person,
and each reference in any other Loan Document to a “Subsidiary Guarantor” shall also mean and be a
reference to such Person, and (ii) each reference in the Loan Documents to “the Guaranty”,
“thereunder”, “thereof” or words of like import referring to this Guaranty, shall mean and be a
reference to this Guaranty as supplemented by such Guaranty Supplement.

ARTICLE V

CONDITIONS PRECEDENT

          Section 5.01 Conditions of Initial Credit Extension. The obligation of the L/C Issuer
and each Lender to make the initial Credit Extension hereunder is subject to the satisfaction of
the following conditions precedent on or prior to the date of such initial Credit Extension:

     (a) Execution of Loan Documents and Notes. The Administrative Agent’s receipt
of the following, each of which shall be originals or facsimiles (followed promptly by
originals) unless otherwise specified, each properly executed by a Responsible Officer of
the signing Loan Party, each dated the Closing Date (or, in the case of certificates of
governmental officials, a recent date before the Closing Date) and each in form and
substance reasonably satisfactory to the Administrative Agent and each of the Lenders:

     (i) this Agreement duly executed and delivered by each of Holdings, Acquisition
Sub, the Lenders named on the signature pages hereof, the Swingline Lender, the L/C
Issuer and the Administrative Agent;

     (ii) a Note executed by the Borrower in favor of each Lender requesting a Note;
and

     (iii) (A) the Pledge Agreement and the Security Agreement, each duly executed
and delivered by Holdings and Acquisition Sub and (B) the Pledge Agreement
Supplement and Security Agreement Supplement, each duly executed and delivered by
the Subsidiary Guarantors, together with:

     (A) with respect to the Pledge Agreement and Pledge Agreement
Supplement, certificates representing the Pledged Equity Interests referred
to therein accompanied by undated stock powers executed in blank,

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     (B) proper UCC-1 Financing Statements in form appropriate for filing
under the Uniform Commercial Code of all jurisdictions that the Collateral
Agent may deem necessary in order to perfect the Liens created under each of
the Collateral Documents, covering the Collateral described in the
Collateral Documents, and

     (C) evidence that all other action that the Collateral Agent may deem
necessary in order to perfect the Liens created under the Collateral
Documents has been taken (including receipt of duly executed payoff letters
and UCC-3 termination statements);

     (iv) the Assumption Agreement, duly executed by the Company, and a Subsidiary
Guaranty Supplement duly executed by each of the Subsidiary Guarantors.

     (b) Signatures. Each of the Borrower and the Restricted Subsidiaries shall
have certified to the Administrative Agent (with copies to be provided for each Lender) the
name and signature of each of the persons authorized (i) to sign on its respective behalf
this Agreement and each of the other Loan Documents to which it is a party and (ii) in the
case of the Borrower, to borrow under this Agreement. The Lenders may conclusively rely on
such certifications until they receive notice in writing from the Borrower or such
Restricted Subsidiary, as the case may be, to the contrary.

     (c) Loan Certificates. The Administrative Agent shall have received a loan
certificate of each Loan Party, in substantially the form of Exhibit E attached
hereto, together with appropriate attachments which shall include, without limitation, the
following items: (i) a true, complete and correct copy of the articles of incorporation,
certificate of limited partnership or certificate of formation or organization of such Loan
Party, certified by the Secretary of State of such Loan Party’s organization, (ii) a true,
complete and correct copy of the by-laws, partnership agreement or limited liability company
or operating agreement of such Loan Party, (iii) a copy of the resolutions of the board of
directors or other appropriate entity of such Loan Party authorizing the execution, delivery
and performance by such Loan Party of this Agreement and the other Loan Documents to which
it is a party and, with respect to the Borrower, authorizing the borrowings hereunder, and
(iv) certificates of existence of such Loan Party issued by the Secretary of State or
similar state official for the state of such Loan Party’s organization.

     (d) Opinions of Counsel to the Borrower and the Restricted Subsidiaries. The
Lenders shall have received favorable opinions of:

     (i) Sullivan & Cromwell LLP, special New York counsel to the Borrower and the
Restricted Subsidiaries, substantially in the form of Exhibit F-1 hereto;
and

     (ii) Holland & Hart LLP, special counsel to the Borrower and the Restricted
Subsidiaries, substantially in the form of Exhibit F-2 hereto;

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and covering such other matters as any Lender or Lenders, may reasonably request (and for purposes
of such opinions such counsel may rely upon opinions of counsel in other jurisdictions,
provided that such other counsel are satisfactory to special counsel to the Administrative
Agent and such other opinions state that the Lenders are entitled to rely thereon).

     (e) Opinion of Counsel to the Administrative Agent. Each Lender shall have
received a favorable opinion of Shearman & Sterling LLP, special New York counsel to the
Administrative Agent, in form and substance reasonably acceptable to the Administrative
Agent.

     (f) Other Documents. Such other documents, filings, instruments and papers
relating to the documents referred to herein and the transactions contemplated hereby as any
Lender or special counsel to the Administrative Agent shall reasonably require shall have
been received by the Administrative Agent.

     (g) Certain Fees. All fees required to be paid to the Administrative Agent,
the Joint Lead Arrangers, the Initial Lenders and the other Lenders on or before the Closing
Date shall have been paid. 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 properly 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).

     (h) Financial Statements. CGMI and Merrill Lynch shall have received (a)
audited consolidated financial statements of the Company and its subsidiaries for the three
fiscal years ended at least 90 days prior to the consummation of the Acquisition, unaudited
consolidated financial statements of the Company and its subsidiaries (subject to year-end
and audit adjustments) for any interim quarterly periods that have ended since the most
recent of such audited financial statements and at least 45 days prior to the consummation
of the Acquisition, and pro forma financial statements as to Holdings and its subsidiaries
giving effect to the Transaction for the most recently completed fiscal year ended at least
90 days prior to the consummation of the Acquisition and the period commencing with the end
of the most recently completed fiscal year and ending with the most recently completed
Quarter ended at least 45 days prior to the consummation of the Acquisition, which in each
case, with respect to any annual or quarterly periods, shall meet the requirements of
Regulation S-X under the Securities Act of 1933, as amended, and all other accounting rules
and regulations of the SEC promulgated thereunder applicable to a registration statement
under such Securities Act of 1933 on Form S-1; and (b) forecasts prepared by management of
Holdings and its subsidiaries, each in form reasonably satisfactory to the CGMI and Merrill
Lynch.

     (i) a Solvency Certificate attesting to the Solvency of Holdings and its Subsidiaries,
taken as a whole, after giving effect to the Transaction and the incurrence of indebtedness
related thereto, from the chief financial officer of the Borrower;

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     (j) (i) The Administrative Agent shall have received a true and correct copy of the
Merger Agreement and related agreements (as certified by a Responsible Officer of the
Borrower) and (ii) the Acquisition shall be consummated concurrently with the initial
funding of the Facilities in accordance with the Merger Agreement, without waiver or
amendment thereof or consent thereunder (other than any such waiver, amendment or consent
that is not materially adverse to the Lenders) unless consented to by the Joint Lead
Arrangers (it being understood that that any alteration, amendment, or other change to (A)
the aggregate purchase price, (B) the definition of “Material Adverse Effect” contained
therein or (C) provisions contained in Section 8.2(d), 9.3 or 9.9 of the Merger Agreement
relating to the treatment of any of the “Debt Financing Sources” as defined therein, or the
definition of “Debt Financing Sources”, “Debt Financing” or “Debt Commitment Letter”), shall
require the prior written consent of the Lenders).

     (k) (i) The Specified Representations shall be true and correct in all material
respects and the representations made by the Company in the Merger Agreement that are
material to the interests of the Lenders shall be true and correct, but only to the extent
that Acquisition Sub has the right to terminate its obligations under the Merger Agreement
or to decline to consummate the transactions contemplated by the Merger Agreement as a
result of a breach of such representations in the Merger Agreement; (ii) no Default or Event
of Default shall have occurred and be continuing or would result from such proposed initial
Credit Extension or from the application of proceeds thereof, (iii) the Borrower shall have
received the Equity Contribution; (iv) the Borrower shall have received $250,000,000 in
gross cash proceeds from the issuance and sale of the Senior Notes; (v) no event of the type
described in Sections 8.01(e), 8.01(f), 8.01(g) or 8.01(h)
shall have occurred with respect to Cablevision or CSC Holdings and (vi) the Administrative
Agent shall have received a certificate from the chief executive officer, president,
executive vice president, chief financial officer or treasurer of the Borrower, in form and
substance reasonably satisfactory to the Administrative Agent, certifying as to the matters
set forth in this Section 5.01(k) and Section 5.01(l).

     (l) There shall not have occurred since December 31, 2009 any Closing Date Material
Adverse Effect.

     (m) The Administrative Agent shall have received a Request for Credit Extension in
accordance with the requirements hereof.

Without limiting the generality of the provisions of Section 9.04, 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 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.

          Section 5.02 Conditions to all Credit Extensions. The obligation of the L/C Issuer
and each Lender to make each Credit Extension hereunder (which shall not include any conversion or
continuation of any outstanding Loan or any Credit Extension the proceeds of which are to reimburse
(i) the Swingline Lender for Swingline Loans or (ii) the L/C Issuer for

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amounts drawn under a Letter of Credit) following the date of the initial Credit Extension is
subject to the additional conditions precedent that:

     (a) no Default or Event of Default shall have occurred and be continuing or would
result from such proposed Credit Extension or from the application of proceeds thereof;

     (b) the representations and warranties of the Borrower and each other Loan Party in
Article VI hereof 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, in all material respects, on and as of the date of the making of, and after giving
effect to, such Credit Extension with the same force and effect as if made on and as of such
date, except to the extent that such representations and warranties expressly relate to an
earlier date, in which case they shall be true and correct, in all material respects, as of
such earlier date, and except that for purposes of this Section 5.02, the
representations and warranties contained in Section 6.04(a) and (b) shall be
deemed to refer to the most recent statements furnished pursuant to Section 7.01(b)
and (a), respectively;

     (c) to the extent requested by the Administrative Agent or any Lender, a senior
executive of the Borrower shall have certified compliance with clauses (a) and (b) above to
the Administrative Agent; and

     (d) the Administrative Agent and, if applicable, the L/C Issuer shall have received a
Request for Credit Extension in accordance with the requirements hereof.

          The Borrower shall be deemed to have made a representation and warranty hereunder as of the
time of each Credit Extension hereunder that the conditions specified in such clauses have been
fulfilled as of such time.

ARTICLE VI

REPRESENTATIONS AND WARRANTIES

          Each Loan Party represents and warrants to the Administrative Agent and the Lenders as
follows:

          Section 6.01 Existence, Qualification and Power. Each Loan Party and each of its
Restricted Subsidiaries is a limited or general partnership, limited liability company or
corporation duly organized, validly existing and in good standing under the Laws of its
jurisdiction of organization and is duly qualified to transact business and is in good standing in
all jurisdictions in which such qualification is necessary in view of the properties and assets
owned and presently intended to be owned and the business transacted and presently intended to be
transacted by it except for qualifications the lack of which, singly or in the aggregate, have not
had and are not likely to have a Materially Adverse Effect, and each of the Loan Parties and its
Restricted Subsidiaries has full power, authority and legal right to perform its obligations under
this Agreement, the Notes and the other Loan Documents to which it is a party.

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          Section 6.02 Subsidiaries; Affiliates; Loan Parties. Schedules 1.01(i) and
1.01(ii) contain a complete and correct list, as of the Closing Date, of all Restricted
Subsidiaries and Unrestricted Subsidiaries of the Borrower, respectively, and a description of the
legal nature of such Subsidiaries (including, with respect to each Restricted Subsidiary, the
address of its principal place of business and its U.S. taxpayer identification number), the nature
of the ownership interests (shares of stock or general or limited partnership or other interests)
in such Subsidiaries and the holders of such interests and, except as disclosed to the Lenders in
writing prior to the Closing Date, the Borrower and each of its Subsidiaries owns all of the
ownership interests of its Subsidiaries indicated in such Schedules as being owned by the Borrower
or such Subsidiary, as the case may be, free and clear of all Liens except those created under the
Collateral Documents, and all such ownership interests are validly issued and, in the case of
shares of stock, fully paid and non-assessable. Schedule 6.02 hereto contains a complete
and correct list, as of the Closing Date, of all Controlled Affiliates of the Borrower that are not
Subsidiaries of the Borrower, the nature of the respective ownership interests in each such
Affiliate, and the holder of each such interest.

          Section 6.03 Authority; No Conflict. The execution, delivery and performance by each
of the Loan Parties of each Loan Document to which it is a party, and each Credit Extension
hereunder, have been duly authorized by all necessary corporate or other organizational action and
do not and will not: (a) subject to the consummation of the action described in Section
6.12 hereof, violate (i) any Law currently in effect (other than violations that, singly or in
the aggregate, have not had and are not likely to have a Materially Adverse Effect), or (ii) any
provision of any of the Borrower’s or the Restricted Subsidiaries’ respective organizational
documents presently in effect; (b) conflict with or result in the breach of, or constitute a
default or require any consent (except for the consents described on Schedule 6.03 hereto,
each of which has been duly obtained) under, or require any payment to be made under (i) any
Contractual Obligation to which any of the Loan Parties is a party or their respective properties
may be bound or affected or (ii) any order, injunction, writ or decree of any Governmental
Authority or any arbitral award to which any of the Loan Parties or their respective properties are
subject (in each case, other than any conflict, breach, default or required consent that, singly or
in the aggregate, have not had and are not likely to have a Materially Adverse Effect); or (c)
except as provided under any Loan Document, result in, or require, the creation or imposition of
any Lien upon or with respect to any of the properties or assets now owned or hereafter acquired by
any of the Loan Parties.

          Section 6.04 Financial Condition. The Borrower has furnished to each Lender:

     (a) The consolidated balance sheet of the Company and its consolidated Subsidiaries as
of December 31, 2009, and the related consolidated statements of operations and members’
deficiency for the fiscal year ended on said date, said financial statements having been
certified by a Registered Public Accounting Firm of nationally recognized standing
reasonably acceptable to the Required Lenders; and

     (b) The unaudited consolidated balance sheet of the Company and its consolidated
Subsidiaries as of September 30, 2010, and the related consolidated statements of operations
for the quarter and nine months then ended.

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     To the knowledge of Holdings and Acquisition Sub, all financial statements referred to
above (i) are complete and correct in all material respects (subject, in the case of the
unaudited financial statements referred to above, to year-end and audit adjustments), (ii)
were prepared in accordance with GAAP consistently applied throughout the period covered
thereby, except as otherwise expressly noted therein, and (iii) fairly present the financial
condition of the respective entity or groups of entities which is or are the subject of such
financial statements (as stated above), on a consolidated basis, as of the respective dates
of the balance sheets included in such financial statements and the results of operations of
such entity or groups of entities for the respective periods ended on said dates.

     None of the Company and its Restricted Subsidiaries had on any of said dates any
material contingent liabilities, liabilities for Taxes, unusual forward or long-term
commitments or unrealized or anticipated losses from any unfavorable commitments or
operations which are substantial in amount, except as referred to or reflected or provided
for in said financial statements of the Company and its consolidated Subsidiaries as of said
respective dates or as disclosed to the Lenders in writing prior to the Closing Date.
Except as disclosed to the Lenders in writing prior to the Closing Date, since December 31,
2009, there has been no material adverse change in the financial condition (from that shown
by the respective balance sheet as of December 31, 2009 included in said financial
statements) or the businesses or operations of the Company and the Restricted Subsidiaries
taken as a whole on a pro forma combined basis (after giving effect to the Indebtedness
contemplated to be incurred on the Closing Date and the use of proceeds thereof).

          Section 6.05 Litigation, Compliance with Laws. Except as disclosed to the Lenders on
Schedule 6.05, there are no actions, suits, proceedings, claims or disputes pending, or to
the knowledge of any Loan Party threatened, against any Loan Party or any Restricted Subsidiary or
any of their respective properties or assets, before any court or arbitrator or by or before any
Governmental Authority that, singly or in the aggregate, could reasonably be expected to have a
Materially Adverse Effect. None of the Loan Parties or the Restricted Subsidiaries is in default
under or in violation of or with respect to any Laws or any writ, injunction or decree of any
court, arbitrator or Governmental Authority, or any Franchise, except for (a) defaults or
violations that have been cured or remedied on or prior to the date of this Agreement and (b)
defaults or violations which, if continued unremedied, would not be reasonably expected to have a
Materially Adverse Effect.

          Section 6.06 Titles and Liens. Except as set forth on Schedule 7.19, each of
the Loan Parties and the Restricted Subsidiaries has good and marketable fee simple title to its
tangible properties and assets owned by such party, free and clear of all Liens except those
permitted by Section 7.19 hereof. To the knowledge of the Loan Parties, each of the Loan
Parties and their Restricted Subsidiaries owns, or has the right to use, all Intellectual Property
necessary for each of them to conduct its business substantially in the same manner as currently
conducted, except to the extent that the failure to own or have such right would not be reasonably
expected to have a Materially Adverse Effect. Schedule 6.06 sets forth a complete and
accurate list in all material respects as of the Closing Date of the locations of all Material Real
Property

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owned by the Borrower or any of its Restricted Subsidiaries showing the street address or
other relevant information and state.

          Section 6.07 Regulation U; Investment Company Act. (a) None of the proceeds of any
of the Credit Extensions shall be used to purchase or carry, or to reduce or refinance any credit
incurred to purchase or carry, any Margin Stock or to extend credit to others for the purpose of
purchasing or carrying any Margin Stock. If requested by the Administrative Agent or any Lender,
the Borrower will furnish to the Administrative Agent or such Lender statements in conformity with
the requirements of Regulation U.

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

          Section 6.08 Taxes. Each of the Loan Parties and the Restricted Subsidiaries has
filed all Federal, state and other material tax returns that are required to be filed under any law
applicable thereto except such returns as to which the failure to file, singly or in the aggregate,
has not had and will not have a Materially Adverse Effect, and has paid, or made provision for the
payment of, all Taxes shown to be due pursuant to said returns or pursuant to any assessment
received by the Loan Parties or any Restricted Subsidiary, except such Taxes, if any, as are being
contested in good faith and as to which adequate reserves have been provided or as to which the
failure to pay, singly or in the aggregate, has not had and is not likely to have a Materially
Adverse Effect.

          Section 6.09 Senior Debt. The Obligations constitute “Senior Debt” (or the equivalent
term) as such term is defined in each Subordinated Debt Document to which the Borrower or any of
its Restricted Subsidiaries is a party and that contains such a definition or any similar
definition.

          Section 6.10 Full Disclosure. None of the financial statements referred to in
Section 6.04 hereof, certificates or any other written statements delivered by or on behalf
of the any Loan Party to the Administrative Agent or any Lender contains, as of the Closing Date,
any untrue statement of a material fact nor do such financial statements, certificates and such
other written statements, taken as a whole, omit to state a material fact necessary to make the
statements contained therein, in light of the circumstances under which they were made, not
misleading.

          Section 6.11 No Default. None of the Loan Parties or their Restricted Subsidiaries is
in default in the payment or performance or observance of any material Contractual Obligation,
which default, either alone or in conjunction with all other such defaults, has had or is likely to
have a Materially Adverse Effect.

          Section 6.12 Governmental and Third Party Approvals. Except as set forth on
Schedule 6.03 hereto, no approval or consent of, or filing or registration with, any
Governmental Authority is required in connection with (a) the execution, delivery and performance
by, or enforcement against, any of the Loan Parties of any Loan Document to which it is a party,
(b) the grant by any of the Loan Parties of the Liens granted by it pursuant to the Collateral
Documents,

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(c) the perfection or maintenance of the Liens created under the Collateral Documents
(including the first priority nature thereof) or (d) the exercise by the Administrative Agent or
any Lender of its rights under the Loan Documents or the remedies in respect of the Collateral
pursuant to the Collateral Documents. All approvals, consents, filings, registrations or other
actions described in Schedule 6.03 have been duly obtained, taken, given or made and are in
full force and effect (other than as set forth in Schedule 6.03).

          Section 6.13 Binding Agreements. This Agreement constitutes, and each other Loan
Document when executed and delivered will constitute, the legal, valid and binding obligations of
each of the Loan Parties that is a party thereto, enforceable in accordance with their respective
terms (except for limitations on enforceability under bankruptcy, reorganization, insolvency and
other similar laws affecting creditors’ rights generally and limitations on the availability of the
remedy of specific performance imposed by the application of general equitable principles).

          Section 6.14 Franchises. Schedule 6.14 hereto contains a complete and correct
list, as of the Closing Date, of all of the Franchises granted to the Borrower and the Restricted
Subsidiaries, in each case together with the expiration date thereof, or for which applications
have been made, or are planned to be made, by the Borrower or any Restricted Subsidiary.

          Section 6.15 Collective Bargaining Agreements. Except as disclosed to the Lenders in
writing prior to the Closing Date, there are no collective bargaining agreements between the
Borrower or its Restricted Subsidiaries and any trade or labor union or other employee collective
bargaining agent.

          Section 6.16 ERISA Compliance. Except that would not reasonably be expected to have a
Materially Adverse Effect, (i) neither the Borrower nor any ERISA Affiliate has, as a result of
maintaining or terminating a Plan or withdrawing from a Multiemployer Plan, (A) incurred, or
reasonably expects to incur, any liability under Title IV of ERISA with respect to any Plan, (B)
incurred, or reasonably expects to incur, any liability under Section 4201 or 4203 of ERISA with
respect to a Multiemployer Plan, or (C) engaged in a transaction during the past five years that
could be subject to Section 4069 or 4212(c) of ERISA; (ii) no Termination Event has occurred or is
reasonably expected to occur with respect to any Plan; (iii) neither the Borrower nor any ERISA
Affiliate has been notified by the sponsor of a Multiemployer Plan that such Multiemployer Plan is
in reorganization (within the meaning of Section 4241 of ERISA), insolvent (within the meaning of
Section 4245 of ERISA) or has been determined to be in “endangered” or “critical” status within the
meaning of Section 432 of the Code or Section 305 of ERISA, and no such Multiemployer Plan is
reasonably expected to be in reorganization, insolvent or in “endangered” or “critical” status.

          Section 6.17 Copyrights. To the knowledge of the Loan Parties, the Loan
Parties and the Restricted Subsidiaries own, or possess the right to use, all of the Copyrights
embodied in the Collateral that are material for the operation of their respective businesses, and
Schedule 6.17 sets forth a complete and accurate list of all such Copyrights that are
registered or the subject of a pending application for registration, in each case in the name of
any of the Loan Parties or Restricted Subsidiaries as of the Closing Date (“Owned
Copyrights”). Except as set forth on Schedule 6.17 and with such exceptions as,
individually or in the aggregate, would not

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reasonably be expected to have a Materially Adverse Effect, as of the Closing Date, no claim
has been asserted in writing and is pending by any Person challenging or questioning the use of any
such Owned Copyrights or the validity, enforceability or ownership of any such Owned Copyrights,
nor do the Loan Parties know of any such claim. None of the Loan Parties or the Restricted
Subsidiaries is in default (or with the giving of notice or lapse of time or both, would be in
default) under any Copyright License which would reasonably be expected to have a Materially
Adverse Effect; and, to the knowledge of the Loan Parties, the use of such Owned Copyrights by any
of the Loan Parties or the Restricted Subsidiaries does not infringe, misappropriate or otherwise
violate the intellectual property rights of any Person, in each case in a manner which would
reasonably be expected to have a Materially Adverse Effect.

          Section 6.18 Solvency. As of the Closing Date, the Loan Parties and their Restricted
Subsidiaries, taken as a whole, after giving effect to the transactions contemplated hereby and by
the other Loan Documents, are Solvent.

          Section 6.19 Casualty, Etc. Except as would not individually or in the aggregate,
reasonably be expected to have a Materially Adverse Effect, since September 30, 2010, neither the
businesses nor the properties of any Loan Party or any Restricted Subsidiary is or has been
affected by any fire, explosion, accident or other casualty (whether or not covered by insurance).

          Section 6.20 Collateral Documents. The provisions of the Collateral Documents are
effective to create in favor of the Collateral Agent for the benefit of the Secured Parties a
legal, valid and enforceable first priority Lien (subject to Liens permitted by Section
7.19) on all right, title and interest of the Borrower and the Guarantors in the Collateral
described therein. Except for filings completed prior to the Closing Date or as otherwise
contemplated hereby or by the Collateral Documents, no filing or other action will be necessary to
perfect such Liens.

          Section 6.21 Environmental Compliance. Except as set forth on Schedule 6.21
and with such exceptions as, individually or in the aggregate, would not reasonably be expected to
have a Materially Adverse Effect:

          (i) (A) the business of the Loan Parties and their Restricted Subsidiaries is in compliance
with all applicable Environmental Laws; and (B) all real property owned by the Loan Parties and
their Restricted Subsidiaries is in compliance with all applicable Environmental Laws;

          (ii) (A) to the knowledge of the Loan Parties, there are no underground storage tanks on any
of the real property owned by the Loan Parties or any of their Restricted Subsidiaries, and (B) to
the knowledge of the Loan Parties, no Hazardous Materials have been spilled or released in, on or
under any of the real property owned by the Loan Parties or any of their Restricted Subsidiaries in
an amount that would trigger a reporting or remediation obligation under current Environmental
Laws;

          (iii) none of the Loan Parties or their Restricted Subsidiaries have received any written
notice, order, directive, claim or demand from any Governmental Authority with respect

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to any actual or potential liability under Environmental Laws on the part of any Loan Party or
Restricted Subsidiary in connection with the business of the Loan Parties and their Restricted
Subsidiaries that remains outstanding;

          (iv) to the knowledge of the Loan Parties, none of the Loan Parties, their Restricted
Subsidiaries nor any of their respective predecessors is currently in any negotiations with any
person that would require, and agreements or undertakings with any Person that require, the cleanup
of Hazardous Materials on the real property or any third party site by the Loan Parties and their
Restricted Subsidiaries;

          (v) no Hazardous Materials generated by the Loan Parties or their Restricted Subsidiaries in
connection with the business of the Loan Parties or their Restricted Subsidiaries are the subject
of a written claim or demand from any third party;

          (vi) no actions or proceedings are pending or, to the knowledge of the Borrower, threatened,
to revoke, modify or terminate any permit issued to the Loan Parties or their Restricted
Subsidiaries under Environmental Laws; and

          (vii) with respect to the business of the Loan Parties and their Restricted Subsidiaries,
neither the Borrower nor the Loan Parties nor their Restricted Subsidiaries are the subject of any
outstanding written notice, order or claim with any Governmental Authority or other Person relating
to the business of the Loan Parties and their Restricted Subsidiaries regarding Environmental Laws.

          Section 6.22 Other Debt. Schedule 7.17 (Existing Indebtedness), Schedule
7.18 (Existing Guarantees) and Schedule 7.19 (Existing Liens) contain complete and
correct lists, as of September 30, 2010, of all credit agreements, indentures, purchase agreements,
obligations in respect of letters of credit, guarantees and other instruments (including Capital
Lease Obligations) in effect on the Closing Date providing for, evidencing, securing or otherwise
relating to any Indebtedness of the Loan Parties or their Restricted Subsidiaries in a principal or
face amount equal to $2,500,000 or more and such lists correctly set forth the names of the debtor
or lessee and creditor or lessor with respect to the Indebtedness outstanding or to be outstanding
thereunder, the rate of interest or rentals, a description of any security given or to be given
therefor, and the maturity or maturities or expiration date or dates thereof.

ARTICLE VII

COVENANTS OF THE

LOAN PARTIES

          From the Closing Date and so long as the Commitments of the Lenders shall be in effect and
until the payment in full of all Obligations hereunder, the expiration or termination of all
Letters of Credit and the performance of all other Obligations of the Borrower under the Loan
Documents, each of the Loan Parties agrees that, unless the Required Lenders, shall otherwise
consent in writing:

          A. Informational Covenants:

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          Section 7.01 Financial Statements and Other Information. The Borrower will deliver to
the Administrative Agent and each Lender:

     (a) As soon as available and in any event within 60 days after the end of each of the
first three Quarters of each fiscal year of the Borrower: (A) consolidated statements of
operations of the Borrower and its consolidated Subsidiaries, taken together, and, for any
Restricted Group Reporting Period, of the Borrower and the Restricted Subsidiaries, taken
together, for such Quarter and for the period from the beginning of such fiscal year to the
end of such Quarter and (B) the related consolidated balance sheets and consolidated cash
flow statements of the Borrower and its consolidated Subsidiaries, taken together, and, for
any Restricted Group Reporting Period, of the Borrower and the Restricted Subsidiaries,
taken together, as of the end of such Quarter (which financial statements (other than
statements of cash flows), beginning with the financial statements for the Quarter ended
March 31, 2012, shall set forth in comparative form the corresponding figures as of the end
of and for the corresponding Quarter in the preceding fiscal year) all in reasonable detail
and accompanied by a certificate in the form of Exhibit D-1 hereto of a senior
financial executive of the Borrower certifying such financial statements as fairly
presenting the financial condition and results of operations of the respective entities
covered thereby in accordance with GAAP, excluding accompanying footnotes to the
consolidated financial statements and subject, however, to year-end and audit adjustments,
which certificate shall include a statement that the senior financial executive signing the
same has no knowledge, except as specifically stated, that any Default has occurred and is
continuing.

     (b) As soon as available and in any event within 120 days after the end of each fiscal
year of the Borrower: (A) consolidated statements of operations of the Borrower and its
consolidated Subsidiaries, taken together, and, for any Restricted Group Reporting Period,
of the Borrower and the Restricted Subsidiaries, taken together, for such fiscal year;
provided that for the fiscal year ending December 31, 2010, the Borrower shall
deliver such consolidated statements of operations within 150 days after the end of such
fiscal year, and (B) the related consolidated balance sheets and cash flow statements of the
Borrower and its consolidated Subsidiaries, taken together, and, for any Restricted Group
Reporting Period, of the Borrower and the Restricted Subsidiaries, taken together, as of the
end of such fiscal year (which financial statements (other than cash flow statements),
beginning with the financial statements for the year ended December 31, 2012, shall set
forth in comparative form the corresponding figures as of the end of and for the preceding
fiscal year), all in reasonable detail and prepared in accordance with GAAP and accompanied
by (x) an opinion of a Registered Public Accounting Firm of nationally recognized standing
selected by the Borrower and reasonably acceptable to the Required Lenders as to said
consolidated financial statements of the Borrower and its consolidated Subsidiaries and a
certificate of such accountants stating that, in making the examination necessary for said
opinion, they obtained no knowledge, except as specifically stated, of any failure by the
Borrower or any Restricted Subsidiaries to perform or observe any of its covenants relating
to financial matters in this Agreement, and (y) a certificate in the form of Exhibit
D-2 hereto of a senior financial executive of the Borrower stating that such financial
statements are correct and complete and fairly present the financial condition and results
of operations

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of the respective entities covered thereby as of the end of and for such fiscal year
and that the executive signing the same has no knowledge, except as specifically stated,
that any Default has occurred and is continuing.

     (c) Promptly after their becoming available, to the extent not provided pursuant to
Section 7.01(a) or 7.01(b), copies of all financial statements and reports
which the Borrower or any Restricted Subsidiary shall have sent to the holders of the Senior
Notes, any Permitted Debt and any Indebtedness specified in Schedule 7.17, to the
extent such statements and reports contain information relating to the designation of the
Borrower’s Subsidiaries as “restricted subsidiaries” under the Debt Instruments governing
any such Indebtedness, and to the calculation of financial ratios thereunder and copies of
all regular and periodic reports, if any, which the Borrower or any Restricted Subsidiary
shall have filed with the SEC or with any national securities exchange.

     (d) Beginning with the financial statements for the Quarter ended March 31, 2011,
concurrently with the delivery of the financial statements referred to in Section
7.01(a) and (b), a Compliance Certificate, duly completed signed by the chief
executive officer, chief financial officer, treasurer or controller of the Borrower.

     (e) Promptly, notice of the termination, cancellation, nonrenewal or other loss of any
Franchise for a cable television system or systems that has had or is likely to have, either
alone or in conjunction with all other such losses, a Materially Adverse Effect.

     (f) As soon as possible and in any event within ten days after any senior executive of
the Borrower or any Restricted Subsidiary or of any general partner of any Restricted
Subsidiary shall have obtained knowledge of the occurrence of a Default, a statement
describing such Default and the action which is proposed to be taken with respect thereto.

     (g) From time to time, with reasonable promptness, such further information regarding
the business, affairs and financial condition of the Loan Parties and their Restricted
Subsidiaries as the Administrative Agent or any Lender, through the Administrative Agent,
may reasonably request;

     (h) Concurrently with the delivery of the financial statements referred to in
Section 7.01(a) and (b), a list of any new, or redesignation with respect
to, Restricted Subsidiaries and Unrestricted Subsidiaries; and

     (i) as soon as available, but in any event within the time period in which the Borrower
must deliver its annual audited financials under Section 7.01(a), a report
supplementing Schedule 6.06, identifying all Material Real Property acquired or
disposed of by any Loan Party during such fiscal year.

          Documents required to be delivered pursuant to Section 7.01(a), (b) or
(c) (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 or
Cablevision’s website on the Internet at the website address listed on Schedule 10.02;
or (ii) on

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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 Administrative Agent); provided
that (A) 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 (B) the Borrower
shall notify the Administrative Agent (by facsimile 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 7.01(d) 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.

          B. Affirmative Covenants:

          Section 7.02 Taxes and Claims. Each of the Borrower and the Restricted Subsidiaries
will pay and discharge all material Taxes imposed upon it or upon its income or profits, or upon
any properties or assets belonging to it, and all material fees or other charges for Franchises and
all other lawful claims which, if unpaid, could be reasonably expected to become a Lien (other than
Permitted Liens) upon the property of the Borrower or any of the Restricted Subsidiaries or result
in the loss of a Franchise, provided that none of the Borrower and the Restricted
Subsidiaries shall be required to pay any such Tax, fee or other claim as to which the Borrower and
the Restricted Subsidiaries have a good faith basis to believe is not due and owing and, to the
extent then appropriate, the payment thereof is being contested in good faith and by proper
proceedings, provided that it maintains adequate reserves in accordance with GAAP with
respect thereto.

          Section 7.03 Insurance. Each of the Borrower and the Restricted Subsidiaries will
maintain insurance issued by financially sound and reputable insurance companies with respect to
its properties and business in such amounts and against such risks as is usually carried by owners
of similar businesses and properties in the same general areas in which the Borrower or such
Restricted Subsidiary operates. The Borrower will furnish to any Lender, upon the request of such
Lender from time to time, full information as to the insurance maintained in accordance with this
Section 7.03.

          Section 7.04 Maintenance of Existence; Conduct of Business. Each of the Loan Parties
will, and will cause its Restricted Subsidiaries to, preserve, renew and maintain in full force and
effect its legal existence and good standing under the Laws of the jurisdiction of its
organization, and all of its rights, privileges, licenses and franchises (including Franchises),
except (i) where a failure to do so, singly or in the aggregate, is not likely to have a Materially
Adverse Effect or (ii) pursuant to a Permitted Restricted Subsidiary Transaction.

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          Section 7.05 Maintenance of and Access to Properties. Each of the Borrower and the
Restricted Subsidiaries will maintain, preserve and protect its properties and assets necessary in
its business in good working order and condition, ordinary wear and tear excepted and except where
a failure to do so, singly or in the aggregate, is not likely to have a Materially Adverse Effect,
and will permit representatives of the Administrative Agent (and solely during the occurrence and
continuance of an Event of Default, the respective Revolving Credit Lenders and Term B Lenders) to
visit and inspect such properties, and to examine and make extracts from its books and records,
during normal business hours.

          Section 7.06 Compliance with Applicable Laws. Each of the Loan Parties will, and will
cause its Restricted Subsidiaries to, comply with the requirements of all applicable Laws
(including but not limited to Environmental Laws) and all orders, writs, injunctions and decrees of
any Governmental Authority a breach of which is likely to have, singly or in the aggregate, a
Materially Adverse Effect, except where contested in good faith and by proper proceedings if it
maintains adequate reserves in accordance with GAAP with respect thereto.

          Section 7.07 Litigation. Each of the Loan Parties will promptly give to the
Administrative Agent notice in writing (and the Administrative Agent will notify each Lender) of
all actions, suits, proceedings, claims or disputes before any courts, arbitrators or Governmental
Authority against it or, to its knowledge, otherwise affecting it or any of its respective
properties or assets, except actions, suits, proceedings, claims or disputes which are not
reasonably likely to, singly or in the aggregate, have a Materially Adverse Effect. Following the
initial notice of each such action, suit, proceeding, claim or dispute, supplementary notices of
all material developments in respect thereof shall be given from time to time in like manner. The
parties hereby acknowledge that the prompt notice to the Administrative Agent and each Lender
required by this Section 7.07 shall be satisfied by public reporting of such actions,
suits, proceedings, claims or disputes by the Borrower, Cablevision or CSC Holdings, LLC with the
SEC in a filing made pursuant to Securities Laws.

          Section 7.08 Subsidiaries. (a) Any New Subsidiary acquired or formed by the Borrower
shall be deemed an Unrestricted Subsidiary unless the provisions of Section 7.20 would not
permit the Investment in such Unrestricted Subsidiary at the time of its acquisition or formation.

          (b) The Borrower may designate, so long as no Default shall have occurred and be continuing
both before and after giving effect to such designation, any New Subsidiary, including a New
Subsidiary deemed to be an Unrestricted Subsidiary pursuant to clause (a), above as a
Restricted Subsidiary by giving a notice captioned “Designation of Restricted Subsidiary” to the
Administrative Agent promptly upon the acquisition or formation of such New Subsidiary, such notice
to specify whether such New Subsidiary has been designated as a “restricted subsidiary” for
purposes of any Debt Instruments governing Permitted Debt or any Indebtedness specified in
Schedule 7.17. Promptly upon such designation, the Borrower will cause such New Restricted
Subsidiary to undertake all of the obligations of (i) a “Restricted Subsidiary” under this
Agreement, and (ii) in the event that the New Restricted Subsidiary is a wholly-owned Domestic
Subsidiary, (x) a “Guarantor” under this Agreement, (y) a “Grantor” under the Security Agreement,
and (z) if applicable, a “Pledgor” under the Pledge Agreement. Each such New Restricted Subsidiary
shall thereafter be a “Restricted Subsidiary” and, in the

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event that the New Restricted Subsidiary is a wholly-owned Domestic Subsidiary, a “Guarantor”
for all purposes of this Agreement, a “Grantor” for all purposes of the Security Agreement and (if
applicable) a “Pledgor” for all purposes of the Pledge Agreement. Notwithstanding the foregoing,
the Borrower may cause, at its election, in order to meet the conditions applicable to an Exchange
or a Permitted Acquisition hereunder, a New Restricted Subsidiary that is not a wholly-owned
Domestic Subsidiary to undertake all of the obligations of (I) a “Guarantor” under this Agreement,
(II) a “Grantor” under the Security Agreement, and (III) if applicable, a “Pledgor” under the
Pledge Agreement. Each such New Restricted Subsidiary so designated shall thereafter be a
“Guarantor” for all purposes of this Agreement, a “Grantor” for all purposes of the Security
Agreement and (if applicable) a “Pledgor” for all purposes of the Pledge Agreement.

          (c) (i) The Borrower may redesignate, so long as no Default shall have occurred and be
continuing both before and after giving effect to such redesignation, any Restricted Subsidiary as
an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary by giving a
notice to the Administrative Agent captioned “Redesignation of Restricted Subsidiary” or
“Redesignation of Unrestricted Subsidiary”, as the case may be. In the case of any redesignation
of any Unrestricted Subsidiary as a Restricted Subsidiary, promptly upon such redesignation, the
Borrower will cause such New Restricted Subsidiary to undertake all of the obligations of (A) a
“Restricted Subsidiary” under this Agreement and (B) in the event that the New Restricted
Subsidiary is a Domestic Subsidiary, (x) a “Guarantor” under this Agreement, (y) a “Grantor” under
the Security Agreement and (z) if applicable, a “Pledgor” under the Pledge Agreement. Each such
New Restricted Subsidiary shall thereafter be a “Restricted Subsidiary” and, in the event that the
New Restricted Subsidiary is a Domestic Subsidiary, a “Guarantor” for all purposes of this
Agreement, a “Grantor” for all purposes of the Security Agreement and (if applicable) a “Pledgor”
for all purposes of the Pledge Agreement.

          Section 7.09 Books and Records. (a) Maintain proper books of record and account, in
which entries that are full, true and correct in all material respects and are in conformity with
GAAP consistently applied shall be made of all material financial transactions and material matters
involving the assets and business of the Borrower or the Guarantors, as the case may be; and (b)
except to the extent failure to do so would not reasonably be expected to have a Materially Adverse
Effect, maintain such books of record and account in conformity with all applicable requirements of
any Governmental Authority having regulatory jurisdiction over the Borrower or the Guarantors, as
the case may be.

          Section 7.10 Franchises. The Borrower and the Restricted Subsidiaries will comply
with all of their obligations under their respective Franchises, except for failures to comply
which, singly or in the aggregate, are not likely to have a Materially Adverse Effect.

          Section 7.11 Use of Proceeds. Use the proceeds of the Credit Extensions to (i)
finance in part the Acquisition, (ii) refinance certain indebtedness of the Company and its
subsidiaries, (iii) pay fees and expenses incurred in connection with the Transaction and (iv)
provide ongoing working capital and for other general corporate purposes of the Borrower and its
Subsidiaries not in contravention of any Law or of any Loan Document and not directly or
indirectly, whether immediately, incidentally or ultimately, to purchase or carry Margin Stock
or

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to extend credit to others for the purpose of purchasing or carrying Margin Stock or to refund
Indebtedness originally incurred for such purpose.

          Section 7.12 Covenant to Guarantee Obligations and Give Security. Upon (x) the
formation or acquisition of (1) any new direct or indirect wholly-owned Subsidiary (other than an
Unrestricted Subsidiary, a CFC or a Subsidiary that is held directly or indirectly by a CFC) by any
Loan Party or (2) any new direct or indirect non wholly-owned Subsidiary acquired in connection
with a Permitted Acquisition or Exchange (other than a CFC or a Subsidiary that is held directly or
indirectly by a CFC), or (y) the acquisition of any property by any Loan Party if such property, in
the reasonable judgment of the Administrative Agent, shall not already be subject to a perfected
first priority security interest in favor of the Administrative Agent for the benefit of the
Secured Parties, then the Borrower shall, at the Borrower’s expense:

     (a) within 30 days (or such longer period as the Administrative Agent may agree in its
reasonable discretion) after such formation or acquisition, cause such Subsidiary (if it has
not already done so), to duly execute and deliver to the Administrative Agent a Subsidiary
Guaranty Supplement,

     (b) within 30 days (or such longer period as the Administrative Agent may agree in its
reasonable discretion) after such formation or acquisition, furnish to the Administrative
Agent a description of the real and personal property of such Subsidiary or such
newly-acquired property, in detail reasonably satisfactory to the Administrative Agent,

     (c) within 45 days (or such longer period as the Administrative Agent may agree in its
reasonable discretion) after such formation or acquisition, cause such Subsidiary (if it has
not already done so) to duly execute and deliver to the Administrative Agent supplemental
Collateral Documents, as specified by and in form and substance reasonably satisfactory to
the Administrative Agent (or in substantially the form attached to the Security Agreement,
if applicable) (including delivery of all certificates representing Pledged Equity Interests
in and of such Subsidiary, and other instruments of the type specified in Section
5.01(a)(iii)),

     (d) within 60 days (or such longer period as the Administrative Agent may agree in its
reasonable discretion) after such formation or acquisition, cause such Subsidiary (if it has
not already done so) to take any actions required under the Security Agreement (including
the recording of mortgages with respect to any Material Real Property so acquired, the
filing of UCC financing statements, the giving of notices and the endorsement of notices on
title documents) may be reasonably requested by the Administrative Agent to vest in the
Administrative Agent (or in any representative of the Administrative Agent designated by it)
valid and subsisting Liens on the properties subject to the supplemental Collateral
Documents delivered pursuant to this Section 7.12; provided that, for the
avoidance of doubt, in the case of an entity that is a first-tier CFC, such pledge shall be
limited to 66% of the capital stock of such CFC, and

     (e) within 60 days after such formation or acquisition in the case of any Material Real
Property, deliver, (i) upon the request of the Administrative Agent in its

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reasonable
discretion, to the Administrative Agent with respect to each parcel of Material Real
Property owned by each Loan Party or newly acquired or newly formed Subsidiary, the
Mortgages, title reports and surveys, each in scope, form and substance reasonably
satisfactory to the Administrative Agent, (ii) to the extent received by the Borrower, to
the Administrative Agent with respect to each parcel of Material Real Property owned by each
Loan Party or newly acquired or newly formed Subsidiary, engineering, soils and other
reports, and environmental assessment reports and (iii) to the Administrative Agent, all
other items set forth on Schedule 7.13, each in scope, form and substance reasonably
satisfactory to the Administrative Agent.

          Section 7.13 Further Assurances. (a) Promptly upon request by the Administrative
Agent, or any Lender through the Administrative Agent, each Loan Party shall (i) correct any
material defect or error that may be discovered in any Loan Document or in the execution,
acknowledgment, filing or recordation thereof, and (ii) do, execute, acknowledge, deliver, record,
re-record, file, re-file, register and re-register any and all such further acts, deeds,
certificates, assurances and other instruments as the Administrative Agent, or any Lender through
the Administrative Agent, may reasonably require from time to time in order to (A) carry out more
effectively the purposes of the Loan Documents, (B) to the fullest extent permitted by applicable
Law, subject any Loan Party’s or any of its Subsidiaries’ properties, assets, rights or interests
to the Liens now or hereafter intended to be covered by any of the Collateral Documents, (C)
perfect and maintain the validity, effectiveness and priority of any of the Collateral Documents
and any of the Liens intended to be created thereunder and (D) assure, convey, grant, assign,
transfer, preserve, protect and confirm more effectively unto the Secured Parties the rights
granted or now or hereafter intended to be granted to the Secured Parties under any Loan Document
or under any other instrument executed in connection with any Loan Document to which any Loan Party
or any of its Subsidiaries is or is to be a party, and cause each of its Subsidiaries to do so, and
(b)(i) cause the items set forth in clauses (a) through (f) on Schedule 7.13, to be
delivered to the Administrative Agent, within 75 days after the Closing Date, as such time period
may be extended in the Administrative Agent’s reasonable discretion (“Mortgage Effective
Date”) and (ii) cause the items set forth in clauses (g) on Schedule 7.13, to be
delivered to the Administrative Agent, within 90 days after the Closing Date, as such time period
may be extended in the Administrative Agent’s reasonable discretion.

          Section 7.14 Interest Rate Hedging. The Borrower shall maintain interest rate Swap
Contracts in such amounts and on such terms as it from time to time determines are necessary and
appropriate to enable it to continue to comply with its covenants and obligations hereunder.

          Section 7.15 Designation as Senior Debt. The Loan Parties shall designate all
Obligations as the sole “Designated Senior Indebtedness” (or an equivalent term) under, and defined
in, any Subordinated Debt Documents.

          Section 7.16 Maintenance of Ratings. In the case of the Borrower, at all times use
commercially reasonable efforts to maintain public ratings issued by Moody’s and S&P with respect
to itself as an entity, and with respect to the Loans made hereunder.

          C. Negative Covenants:

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          Section 7.17 Indebtedness. None of the Loan Parties will, or will permit any of its
Restricted Subsidiaries to, create, incur or suffer to exist any Indebtedness except:

          (a) Indebtedness hereunder;

          (b) Indebtedness in respect of the Senior Notes, any Permitted Debt and any Permitted
Refinancing Indebtedness in respect thereof;

          (c) (i) obligations under or in respect of interest rate Swap Contracts up to an aggregate
notional principal amount not to exceed at any time an amount equal to the Commitments of all the
Lenders in the aggregate at such time and (ii) obligations owing under other Swap Contracts entered
into in order to manage existing or anticipated exchange rate or commodity price risks and not for
speculative purposes;

          (d) Guarantees and letters of credit not prohibited by Section 7.18 hereof;

          (e) Indebtedness of any Loan Party owed to any other Loan Party;

          (f) Indebtedness issued and outstanding on the Closing Date to the extent set forth on
Schedule 7.17 hereto and any Permitted Refinancing Indebtedness related thereto;

          (g) Indebtedness incurred by the Borrower or any Subsidiary Guarantor as consideration for
Permitted Acquisitions, so long as (i) such indebtedness is unsecured; (ii) the Borrower would be
in compliance, on a pro forma basis after giving effect to the consummation of such acquisition and
the incurrence or assumption of such indebtedness in connection therewith, with the financial
maintenance covenants set forth in Sections 7.31 and 7.32 recomputed as of the last
day of the most recently ended Quarter for which financial statements were delivered pursuant to
Section 7.01 (such pro forma basis to include, in the Borrower’s discretion, a reasonable
estimate of savings from such acquisition (A) that have been realized, (B) for which the steps
necessary for realization have been taken, or (C) for which the steps necessary for realization are
reasonably expected to be taken within 12 months of the date of such acquisition, in each case,
certified by the Borrower); provided that the Cash Flow Ratio for purposes of determining
such pro forma compliance, shall be the lesser of (x) 7.50:1.00 and (y) the level that is 0.25:1.00
more restrictive than the level otherwise applicable for the relevant test period, (iii) the
Borrower would be in compliance, on a pro forma basis after giving effect to the consummation of
such acquisition and the incurrence or assumption of such indebtedness in connection therewith,
with a ratio of Consolidated Total Secured Debt to Annual Operating Cash Flow not exceeding
4.25:1.00, (iv) before and after giving effect thereto, no default or Event of Default shall have
occurred and be continuing, and (v) such Indebtedness has a maturity date no earlier than the date
that is six months after the Maturity Date with respect to the Term Facility and has no mandatory
redemptions prior to the Maturity Date with respect to the Term Facility (other than customary
asset sale and change of control offers that are subject to prior payment and termination of the
Facilities);

          (h) Capital Lease Obligations and purchase money obligations for fixed or capital assets in an
aggregate amount outstanding at any one time not to exceed $35,000,000;

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          (i) Indebtedness in connection with issuance of one or more standby letters of credit or
performance bonds securing obligations of the type set forth in clauses (a) and (b) of the
definition of “Permitted Liens”;

          (j) Indebtedness consisting of (i) the financing of insurance premiums or (ii) take-or-pay
obligations of the Borrower or any of its Restricted Subsidiaries contained in supply arrangements,
in each case, in the ordinary course of business;

          (k) cash management obligations and Indebtedness incurred in respect of netting services,
overdraft protection and similar arrangements;

          (l) Indebtedness of a Person existing at the time such Person became a Restricted Subsidiary
or property was acquired from such Person, in each case pursuant to a Permitted Acquisition, to the
extent such Indebtedness was not incurred in connection with or in contemplation of, such Person
becoming a Restricted Subsidiary or the acquisition of such property, not to exceed in an aggregate
principal amount at any time outstanding $10,000,000 and any Permitted Refinancing Indebtedness
related thereto (it being understood that any accrued but unpaid interest and the amount of all
expenses and premiums incurred in connection therewith added to any principal amount shall not
constitute an increment in principal for purposes of this paragraph);

          (m) any earnout obligation that comprises a portion of the consideration for a Permitted
Acquisition;

          (n) Indebtedness consisting of obligations under deferred compensation or other similar
arrangements incurred by the Borrower or any Restricted Subsidiary in connection with the
Transactions and any Permitted Acquisition;

          (o) Monetization Indebtedness; and

          (p) other Indebtedness of the Borrower or any Restricted Subsidiary to the extent not
otherwise permitted by clauses (a) through (o) of this Section 7.17, so
long as the aggregate principal amount of all such Indebtedness outstanding at any one time
pursuant to this clause (p) shall not exceed $25,000,000.

          Section 7.18 Contingent Liabilities. Neither the Borrower nor any Restricted
Subsidiary will, directly or indirectly (including, without limitation, by means of causing a bank
to open a letter of credit), guarantee, endorse, contingently agree to purchase or to furnish funds
for the payment or maintenance of, or otherwise be or become contingently liable upon or with
respect to, the Indebtedness, other obligations, net worth, working capital or earnings of any
Person, or guarantee the payment of dividends or other distributions upon the stock or other
ownership interests of any Person, or agree to purchase, sell or lease (as lessee or lessor)
property, products, materials, supplies or services primarily for the purpose of enabling a debtor
to make payment of its obligations or to assure a creditor against loss (all such transactions
being herein called “Guarantees”), except:

          (a) the Guarantees in Article IV hereof;

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          (b) endorsements of negotiable instruments for deposit or collection in the ordinary course of
business;

          (c) the Guarantees described in Schedule 7.18;

          (d) Guarantees by the Borrower or one or more of the Restricted Subsidiaries of Indebtedness
of, and other obligations (incurred in the ordinary course of business) of, another Restricted
Subsidiary, but only if such Indebtedness or obligations are permitted by this Agreement;
provided that Guaranties by Loan Parties of obligations of Restricted Subsidiaries that are
not Loan Parties shall be permitted only to the extent that such Guarantee would be permitted as an
Investment under Section 7.20;

          (e) other Guarantees, including, but not limited to, without duplication, surety bonds, by the
Borrower and its Restricted Subsidiaries; provided that the outstanding aggregate amount of
the obligations guaranteed does not exceed $35,000,000 at any time;

          (f) Capital Lease Obligations to the extent they constitute Guarantees by reason of having
been assigned by the lessor to a lender to such lessor (provided that the obligors in
respect of such Capital Lease Obligations do not increase their liability by reason of such
assignment);

          (g) unsecured Guarantees by Loan Parties of the Borrower’s obligations in respect of
Indebtedness issued and outstanding under the Senior Notes Documents on the Closing Date, and any
Permitted Refinancing Indebtedness in respect thereof;

          (h) Letters of Credit;

          (i) Guarantees which would constitute Investments that are not prohibited by Section
7.20;

          (j) any Guarantee by the Borrower or a Subsidiary Guarantor of the obligations of any
Unrestricted Subsidiary so long as (A) recourse to the Borrower or such Subsidiary Guarantor
thereunder is limited solely to shares of capital stock of such Unrestricted Subsidiary or its
Subsidiaries and to no other assets of the Borrower or the Restricted Subsidiaries and (B) neither
the Borrower nor any Restricted Subsidiary agrees, in connection therewith, to any limitation on
the amount of Indebtedness which may be incurred by them, to the granting of any Liens on assets of
the Borrower or any of the Restricted Subsidiaries (other than shares of stock of such Unrestricted
Subsidiary or its Subsidiaries), to any acquisition or disposition of any assets of the Borrower or
the Restricted Subsidiaries (other than shares of capital stock of such Unrestricted Subsidiary or
its Subsidiaries) or to any modification or supplement of this Agreement or any agreement entered
into by the Borrower or any of the Restricted Subsidiaries refinancing any substantial portion of
the Indebtedness outstanding under this Agreement;

          (k) any Guarantee by the Borrower or a Subsidiary Guarantor of the obligations or Indebtedness
of any Unrestricted Subsidiary or joint venture; provided that the aggregate amount of all
such Guarantees, when combined with the aggregate amount of

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Investments in Unrestricted Subsidiaries and joint ventures made pursuant to Section
7.20(l), does not exceed $50,000,000 at any time outstanding;

          (l) Obligations under contracts providing for the acquisition of or provision of goods or
services (including Leases or licenses of property) incurred in the ordinary course of business for
which the Borrower or any of its Restricted Subsidiaries may be jointly and severally liable with
other Subsidiaries of Cablevision as to which costs are allocated (as among the Borrower and its
Subsidiaries and the other Subsidiaries of Cablevision) based on cost, usage or other reasonable
method of allocation; provided that the undertaking of such liabilities are not intended as
a guaranty or other credit support of such obligations;

          (m) any Guarantee by the Borrower or any Restricted Subsidiary of Indebtedness of the Borrower
or any Restricted Subsidiary which Indebtedness is permitted to be incurred under Section
7.17;

          (n) any Guarantee by the Borrower or a Restricted Subsidiary of any obligation to the extent
such obligation can be entirely satisfied (at the option of the Borrower or such Restricted
Subsidiary) by the delivery of Parent Company Stock, if the Borrower agrees in a notice to the
Administrative Agent that such obligation shall be satisfied solely by the delivery of such Parent
Company Stock; and

          (o) Guarantees incurred in connection with a Monetization Transaction.

          Section 7.19 Liens. Neither the Borrower nor any Restricted Subsidiary will create or
suffer to exist, any mortgage, pledge, security interest, conditional sale or other title retention
agreement, lien, charge or encumbrance upon any of its assets, now owned or hereafter acquired,
securing any Indebtedness or other obligation (all such security being herein called
“Liens”), except:

          (a) Liens on property securing Indebtedness owed to the Borrower or any Restricted Subsidiary;

          (b) Liens securing Indebtedness permitted under Section 7.17(h) or (l) to the
extent such Liens attach solely to the property acquired with or subject to such Indebtedness;

          (c) Liens securing all of the obligations of the Borrower and the Restricted Subsidiaries
hereunder and under the other Loan Documents, including Liens in favor of a Hedge Bank or a
Non-Interest Rate Hedge Bank, as the case may be, in connection with a Secured Hedge Agreement or a
Non-Interest Rate Secured Hedge Agreement, as the case may be;

          (d) Permitted Liens and Permitted Encumbrances (as defined in the Mortgage);

          (e) other Liens on property or assets in effect on the Closing Date to the extent set forth on
Schedule 7.19;

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          (f) Liens on Equity Interests in any Unrestricted Subsidiary or joint venture of the
Borrower or any Restricted Subsidiary;

          (g) Liens (i)(A) on advances of cash or Cash Equivalents in favor of the seller of any
property to be acquired in an Investment permitted pursuant to Section 7.20 to be applied
against the purchase price for such Investment or (B) consisting of an agreement to dispose of any
property in a Disposition permitted under Section 7.22, in each case, solely to the extent
such Investment or Disposition, as the case may be, would have been permitted on the date of the
creation of such Lien and (ii) on cash earnest money deposits made by the Borrower or any
Restricted Subsidiary in connection with any transaction that constitutes or will constitute a
Permitted Acquisition; and

          (h) Liens securing Monetization Indebtedness;

          In addition, neither the Borrower nor any Restricted Subsidiary will enter into or permit to
exist any undertaking by it or affecting any of its properties whereby the Borrower or such
Restricted Subsidiary shall agree with any Person (other than the Lenders or the Administrative
Agent) not to create or suffer to exist any Liens in favor of any other Person, provided
that the foregoing restriction shall not apply to any such undertaking contained in any indenture
or other agreement (i) governing any Indebtedness outstanding at the date hereof and identified on
Schedule 7.17 hereto, (ii) governing any Indebtedness in respect of the Senior Notes, the
Permitted Debt (to the extent that such undertaking in any Permitted Debt is no more restrictive
than the corresponding terms of the Senior Notes) and any renewals, extensions or refundings
thereof, (iii) governing specific property to be sold pursuant to an executed agreement with
respect to an asset sale permitted hereunder, or (iv) constituting a customary restriction on
assignment, subletting, or other transfer contained in Leases, licenses, franchises and other
similar agreements entered into in the ordinary course of business or otherwise creating a
Permitted Lien (provided that any restriction referred to in clauses (iii) or (iv) is
limited to the property or asset subject to such sale, Lease, license, franchise or other similar
agreement or Permitted Lien, as the case may be).

          Section 7.20 Investments. Neither the Borrower nor any Restricted Subsidiary will,
directly or indirectly, (A) make or permit to remain outstanding any advances, loans, accounts
receivable (other than (x) accounts receivable arising in the ordinary course of business of the
Borrower or such Restricted Subsidiary and (y) accounts receivable owing to the Borrower or any
Restricted Subsidiary from any Unrestricted Subsidiary for management or other services or other
overhead or shared expenses allocated in the ordinary course of business provided by the Borrower
or any Restricted Subsidiary to such Unrestricted Subsidiary) or other extensions of credit
(excluding, however, accrued and unpaid interest in respect of any advance, loan or other extension
of credit) or capital contributions to (by means of transfers of property to others, or payments
for property or services for the account or use of others, or otherwise) any Person (other than any
Loan Party), (B) purchase or own any stocks, bonds, notes, debentures or other securities
(including, without limitation, any interests in any partnership, joint venture or any similar
enterprise) of, any Person (other than a Loan Party), (C) purchase or acquire (in one transaction
or a series of transactions) assets of another Person (other than any Loan Party) that constitute a
business unit or all or a substantial part of the business of, such Person (all such

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transactions referred to in clauses (A), (B) and (C) being herein called
“Investments”) or (D) consummate a transaction described under Section 7.21(f),
except for:

          (a) Investments in cash, Cash Equivalents and marketable securities;

          (b) Investments set forth on Schedule 7.20 and any modification, replacement, renewal
or extension thereof; provided, that the amount of the Investment outstanding on the
Closing Date is not increased except pursuant to the terms of such Investment or as otherwise
permitted by this Section 7.20;

          (c) receivables owing to the Borrower or any of its Restricted Subsidiaries, including
receivables from and advances to suppliers, if created, acquired or made in the ordinary course of
business and payable or dischargeable in accordance with customary trade terms;

          (d) loans and advances to officers, directors, employees, consultants and members of
management (including for travel, entertainment, relocation and analogous business expenses) in an
aggregate amount not to exceed $5,000,000 at any time outstanding; provided that such loans
and advances shall comply with all applicable Laws;

          (e) Investments (including debt obligations) (i) received in connection with the bankruptcy
and reorganization of suppliers and customers in settlement of delinquent obligations of, and (ii)
received in connection with the settlement of other disputes with customers and suppliers;

          (f) to the extent that they constitute Investments, (i) Indebtedness not prohibited by
Section 7.17; (ii) Guarantees not prohibited by Section 7.18 other than clause (i)
thereof, (iii) Liens not prohibited by Section 7.19, or (iv) Restricted Payments not
prohibited by Section 7.23;

          (g) Permitted Acquisitions;

          (h) Investments consisting of extensions of credit or endorsements for collection or deposit
in the ordinary course of business;

          (i) Investments consisting of notes, other similar instruments or non-cash consideration
received in connection with any disposition not prohibited by Section 7.22;

          (j) Investments to the extent financed with Parent Company Stock;

          (k) Investments in Swap Contracts entered into in order to manage existing or anticipated
interest rate, exchange rate or commodity price risks and not for speculative purposes;

          (l) Investments in one or more Unrestricted Subsidiaries or joint ventures; provided
that the aggregate amount of all such Investments, when combined with the aggregate amount of
Guarantees permitted pursuant to Section 7.18(k), does not exceed $50,000,000 at any one
time outstanding;

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          (m) advances of payroll payments to employees in the ordinary course of business;

          (n) guarantees provided to franchise authorities to guarantee obligations under Franchises;

          (o) Investments of the Borrower and its Restricted Subsidiaries consisting of settlements of
overdue debts or accounts with customers and suppliers in bankruptcy in the ordinary course of
business;

          (p) Guarantees of Leases of the Borrower and its Restricted Subsidiaries entered into in the
ordinary course of business; and

          (q) other investments of the Borrower or any Restricted Subsidiary, to the extent not
otherwise permitted by clauses (a) through (p) of this Section 7.20; provided that
such investments made pursuant to this clause shall not exceed an aggregate amount of $50,000,000
at any one time outstanding.

          Section 7.21 Fundamental Changes. None of any Loan Party or any of its Restricted
Subsidiaries will 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, except that, so long
as no Event of Default exists or would result therefrom:

          (a) any Restricted Subsidiary may merge, dissolve, liquidate or consolidate with or into (i)
the Borrower, provided that the Borrower shall be the continuing or surviving Person, or
(ii) any one or more other Restricted Subsidiaries, provided that when any wholly-owned
Subsidiary is merging with another Subsidiary, such wholly-owned Subsidiary shall be the continuing
or surviving Person;

          (b) any Loan Party (other than the Borrower) may 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, upon voluntary liquidation or otherwise) to the Borrower or to another Loan Party;

          (c) any Restricted Subsidiary that is not a Loan Party may Dispose of (whether in one
transaction or in a series of transactions) all or substantially all its assets (whether now owned
or hereafter acquired, upon voluntary liquidation or otherwise) to (i) another Restricted
Subsidiary that is not a Loan Party or (ii) to a Loan Party;

          (d) the Borrower and its Subsidiaries may consummate the Transaction;

          (e) any Restricted Subsidiary may merge, dissolve, liquidate or consolidate with or into
another Person (subject to clause (a)) or be subject to a transaction resulting in the
Disposition of (whether in one transaction or in a series of transactions) all or substantially all
of its assets (so long such Disposition is not a Disposition of all or substantially all of the
assets of
the Borrower and its Restricted Subsidiaries, taken as a whole) (whether now owned or
hereafter

102

 

acquired, upon voluntary liquidation or otherwise) to or in favor of any Person in a
transaction permitted under Section 7.22;

          (f) any Loan Party or any of its Restricted Subsidiaries may merge, dissolve, liquidate or
consolidate with or into any other Person or permit any other Person to merge, dissolve, liquidate
or consolidate with or into it; provided that (i) in the case of a merger, dissolution,
liquidation or consolidation to which a wholly owned Subsidiary of the Borrower is a party, the
Person surviving such merger, dissolution, liquidation or consolidation shall be a wholly owned
Subsidiary of the Borrower and (ii) in the case of any merger, dissolution, liquidation or
consolidation to which any Loan Party is a party, a Loan Party is the surviving Person.

          Section 7.22 Dispositions. None of any Loan Party nor any of its Restricted
Subsidiaries will make any Disposition or enter into any agreement to make any Disposition, except:

          (a) Dispositions of obsolete, worn out, damaged, surplus or otherwise no longer used or useful
machinery, parts, equipment or other assets no longer used or useful in the conduct of the business
of the Borrower or any of its Restricted Subsidiaries in the ordinary course of business;

          (b) Dispositions of cash, Cash Equivalents, inventory, materials and other current assets in
the ordinary course of business (including the sale, transfer or other disposition of overdue or
disputed accounts receivable, in connection with the compromise or collection thereof) and the
conversion of cash into Cash Equivalents and Cash Equivalents into cash;

          (c) Dispositions of property subject to Events of Loss;

          (d) the sale or issuance of any Subsidiary’s Equity Interests to the Borrower or any
Restricted Subsidiary; provided that any Subsidiary Guarantor shall only issue or sell its
Equity Interests to the Borrower or another Subsidiary Guarantor;

          (e) Dispositions by the Borrower to any Subsidiary or any Subsidiary to the Borrower
or to the Borrower or another Subsidiary of the Borrower; provided that if the transferor
is a Restricted Subsidiary, the transferee thereof must either be the Borrower or a Restricted
Subsidiary; provided, further that if the transferor is the Borrower or a
Guarantor, the transferee must be either the Borrower or a Guarantor;

          (f) Dispositions that are Investments not prohibited by Section 7.20 or
Dispositions that are permitted by Section 7.21 (other than clause (e) thereof);

          (g) Dispositions of property or assets from a Loan Party to a Subsidiary that is not
a Loan Party or to a joint venture of a Loan Party; provided, that as of the date of such
Disposition the aggregate fair market value of property and assets subject to such Dispositions
(determined at the time of such Dispositions) pursuant to this clause (g) during the term
of this Agreement does not exceed $35,000,000;

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          (h) Dispositions or Exchanges by the Borrower and its Restricted Subsidiaries to the extent
that the Net Cash Proceeds of any such Disposition or Exchange are applied to prepay the Term Loans
pursuant to (and to the extent required by) Section 2.04;

          (i) Dispositions of Investments in joint ventures to the extent required by, or made pursuant
to buy/sell arrangements between the joint venture parties set forth in joint venture arrangements
or similar binding arrangements (i) in substantially the form as such arrangements are in effect on
the Closing Date and (ii) to the extent that the Net Cash Proceeds of any such Disposition are
applied to prepay the Term Loans pursuant to (and to the extent required by) Section
2.04(b)(ii);

          (j) Dispositions of Unrestricted Subsidiaries;

          (k) Leases, subleases, licenses or sublicenses of assets or properties in the ordinary course
of business and which do not materially interfere with the business of the Borrower and its
Restricted Subsidiaries;

          (l) Dispositions of Intellectual Property which, in the reasonable good faith determination of
the Borrower, are not material to the conduct of the business of the Borrower and its Restricted
Subsidiaries, and the licensing or sublicensing of Intellectual Property rights and other transfers
of Intellectual Property and copyrighted material in the ordinary course of business or that are
otherwise not material to the conduct of the business of the Borrower and its Restricted
Subsidiaries;

          (m) Dispositions of assets or properties to the extent that such assets or properties are
exchanged for credit against the purchase price of similar replacement assets or properties or the
proceeds of such Disposition are reasonably promptly applied to the purchase price of such
replacement assets or properties, in each case, in the ordinary course of business;

          (n) termination of Swap Contracts;

          (o) the settlement of tort or other litigation claims, provided that if any such
settled claim shall have a value in excess of $5,000,000, the board of directors or similar
governing body of the Borrower determines it to be fair and reasonable in light of the
circumstances; and

          (p) any Disposition that involves property or assets having a fair market value of less than
$10.0 million;

provided that (A) with respect to clause (h) above, any such Disposition or
Exchange shall be for fair market value and, with respect to any Disposition (but not any
Exchange), at least 75% of the consideration received therefor by the Loan Parties or any such
Restricted Subsidiary shall be in the form of cash or Cash Equivalents (including by way of any
Monetization Transaction) and (B) after giving effect to any such Disposition or Exchange pursuant
to clause (h), (1) the Loan Parties shall be in compliance on a pro forma basis with the
financial maintenance covenants set forth in Sections 7.31 and 7.32 hereof,
recalculated for the most recently ended fiscal quarter for which information has been delivered
pursuant to Section 7.01 and (2) no Event of Default shall exist or shall result therefrom.

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          Section 7.23 Restricted Payments. Neither Holdings, the Borrower nor any Restricted
Subsidiary will, directly or indirectly, declare or make any Restricted Payment (other than any
Restricted Payment payable (and paid) in Parent Company Stock), or incur any obligation (contingent
or otherwise) to do so, except:

          (a) Holdings, the Borrower and its Restricted Subsidiaries may make dividends and other
distributions payable solely in the same class of Equity Interests of such Person;

          (b) any Subsidiary of the Borrower may make distributions to the Borrower or any Subsidiary
Guarantor;

          (c) so long as no Default or Event of Default then exists or would be caused thereby and (A)
the Borrower and Holdings are Flow Through Entities, the Borrower and Holdings may make
distributions in an amount required by the direct or indirect holders of Equity Interests in the
Borrower and Holdings to pay federal, state, local and foreign income taxes with respect to their
allocable shares of the taxable income of the Borrower and Holdings as a result of their direct or
indirect ownership of the Borrower and Holdings; or (B) the Borrower and Holdings are members of an
affiliated group filing a consolidated federal or combined state, local or foreign income tax
return, the Borrower and Holdings, as applicable, may pay or distribute amounts required to pay the
federal, state, local or foreign income taxes of the common parent of such affiliated group that
are attributable to the income of the Borrower and Holdings;

          (d) repurchases of Equity Interests in a cashless transaction deemed to occur upon exercise or
vesting of restricted stock, stock options or warrants;

          (e) so long as no Event of Default shall have occurred and be continuing or would result
therefrom, Holdings may make Restricted Payments with the proceeds received from the issuance of
its Equity Interests (other than the issuance of Equity Interests to a Loan Party or any Subsidiary
thereof and other than a Specified Equity Contribution);

          (f) to the extent constituting Restricted Payments, Holdings, the Borrower and its Restricted
Subsidiaries may enter into transactions permitted by Sections 7.21 and 7.22;

          (g) Holdings, the Borrower and any Restricted Subsidiary may make payments in respect of the
following, including through a distribution by Borrower to Holdings, through a distribution by
Holdings, or by a payment by Holdings, the Borrower or any Restricted Subsidiary: (A) operating
expenses, other corporate overhead costs, capital expenditures and expenses incurred in
maintaining Holdings’ existence, including, without limitation, in respect of directors’ fees and
expenses, administrative, legal and accounting services, management fees of Holdings permitted
hereunder and costs and expenses with respect to filings with the SEC, plus any reasonable and
customary indemnification claims made by directors, officers, members of management, employees or
consultant of Holdings attributable to the ownership or operations of the Borrower and its
Restricted Subsidiaries or (B) pay its franchise or similar taxes and other similar fees, taxes and
expenses required to maintain its legal existence, (ii) to finance any Investment permitted to be
made pursuant to Section 7.20; provided, that with respect to this

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clause (ii), (A) such Restricted Payment shall be made substantially concurrently with the
consummation of such Investment and (B) Holdings shall, immediately following the consummation
thereof, cause (1) all property acquired (whether assets or Equity Interests) to be contributed to
the Borrower or one of its Restricted Subsidiaries which is a Guarantor or (2) the merger (to the
extent permitted by Section 7.21) of the Person formed or acquired into the Borrower or one
of its Restricted Subsidiaries, (iii) so long as no Default or Event of Default has occurred and is
continuing or would result therefrom, the proceeds of which shall be used by Holdings to pay
reasonable and customary fees and expenses (other than to its Affiliates) related to any
unsuccessful equity or debt offering permitted by this Agreement to the extent the full amount of
proceeds of such equity or debt offering shall have been intended to be contributed to the Borrower
or one of its Restricted Subsidiaries or (iv) the proceeds of which shall be used to make cash
payments in lieu of issuing fractional shares or units in connection with the exercise of warrants,
options or other securities convertible into or exchangeable for Equity Interests of Holdings, the
Borrower or its Restricted Subsidiaries; and

          (h) Holdings and the Borrower may make Restricted Payments (i) in an aggregate amount during
the term of this Agreement not to exceed the sum of (1) $25,000,000 plus (2) without
duplication to clause (f) of this Section 7.23, the net proceeds from any sale or issuance
of Equity Interests by Holdings (the proceeds of which are contributed in cash to the Borrower) to
any Person (other than Holdings, the Borrower or any of its Restricted Subsidiaries) after the
Closing Date (other than the Equity Contribution or any Specified Equity Contribution) (with
non-cash proceeds to be valued by the Borrower in good faith) plus (3) the difference
between (i) Cumulative Operating Cash Flow minus (ii) 1.4 multiplied by Cumulative Total Interest
Expense when the Cash Flow Ratio is greater than or equal to 3.00 to 1.00 (such compliance to be
determined on the basis of the financial information most recently delivered to the Administrative
Agent and the Lenders pursuant to Section 7.01(a) or (b) as though such Restricted
Payment had been consummated as of the first day of the fiscal period following the fiscal period
covered thereby) and (ii) in an unlimited amount at all times when the Cash Flow Ratio is less than
3.00 to 1.00 (such compliance to be determined on the basis of the financial information most
recently delivered to the Administrative Agent and the Lenders pursuant to Section 7.01(a)
or (b) as though such Restricted Payment had been consummated as of the first day of the
fiscal period following the fiscal period covered thereby); provided that, in each case, on
a pro forma basis after giving effect to any such Restricted Payment, the Borrower is in compliance
with the financial maintenance covenants set forth in Sections 7.31 and 7.32 and no
Default or Event of Default has occurred and is continuing.

          Section 7.24 Change in Nature of Business. None of any Loan Party nor any of its
Restricted Subsidiaries will engage in any material line of business substantially different from
those lines of business conducted by the Borrower and its Restricted Subsidiaries on the Closing
Date or any business substantially related or incidental thereto, other than reasonable extensions
thereof.

          Section 7.25 Transactions with Affiliates. Other than as set forth on Schedule
7.25, neither any Loan Party nor any Restricted Subsidiary will effect any transaction with any
Affiliate of the Borrower that is not a Restricted Subsidiary, having a value, or for consideration
having a value, in excess of $20,000,000 unless the board of directors (or the person duly
authorized to perform similar functions) of the Borrower or such Restricted

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Subsidiary shall
make a good faith determination that the terms of such transaction are, taken as a whole, no
less favorable to the Borrower or such Restricted Subsidiary, as the case may be, than would at the
time be obtainable for a comparable transaction in arms-length dealing with an unrelated third
party; provided, however, that this provision shall not apply to (i) overhead and other
ordinary course allocations of costs and services on a reasonable basis, (ii) allocations of tax
liabilities and other tax-related items among the Borrower and its Affiliates based principally
upon the financial income, taxable income, credits and other amounts directly related to the
respective parties, to the extent that the share of such liabilities and other items allocable to
the Borrower and its Restricted Subsidiaries shall not exceed the amount that such Persons would
have been responsible for as a direct taxpayer and (iii) any Investment permitted by Section
7.20 or any Restricted Payment permitted by Section 7.23.

          Section 7.26 Burdensome Agreements. No Loan Party nor any Restricted Subsidiary will
enter into any Contractual Obligation (other than this Agreement or any other Loan Document) that
limits the ability (i) of any Subsidiary to make Restricted Payments to the Borrower or any
Restricted Subsidiary or to otherwise transfer property to the Borrower or any Restricted
Subsidiary or (ii) of any Restricted Subsidiary to Guarantee the Indebtedness of the Borrower;
provided that the preceding restrictions will not apply to limitations (1) existing under, by
reason of or with respect to Indebtedness existing on the date of this Agreement or any other
agreements in effect on the date of this Agreement and any amendments, modifications, restatements,
renewals, extensions, supplements, refundings, replacements or refinancings thereof, provided that
the encumbrances and restrictions in any such amendments, modifications, restatements, renewals,
extensions, supplements, refundings, replacements or refinancings are not materially more
restrictive, taken as a whole, than those contained in Indebtedness or such other agreements, as
the case may be, as in effect on the date of this Agreement; (2) set forth in the indenture for the
Senior Notes, the Senior Notes, the Guarantees related thereto and other Permitted Debt; (3)
existing under, by reason of or with respect to applicable law, rule, regulation or order; (4) with
respect to any Person or the property or assets of a Person acquired by a Loan Party or any
Restricted Subsidiary existing at the time of such acquisition and not incurred in connection with
or in contemplation of such acquisition, which encumbrance or restriction is not applicable to any
Person or the properties or assets of any Person, other than the Person, or the property or assets
of the Person, so acquired and any amendments, modifications, restatements, renewals, extensions,
supplements, refundings, replacements or refinancings thereof, provided that the encumbrances and
restrictions in any such amendments, modifications, restatements, renewals, extensions,
supplements, refundings, replacements, or refinancings are not materially more restrictive, taken
as a whole, than those in effect on the date of the acquisition; (5) in the case of clause (i) of
the first sentence of this covenant (A) that restrict in a customary manner the subletting,
assignment or transfer of any property or asset that is a lease, license, conveyance or contract or
similar property or asset, (B) existing by virtue of any transfer of, agreement to transfer, option
or right with respect to, or Lien on, any property or assets of a Loan Party or any Restricted
Subsidiary not otherwise prohibited by this Agreement, or (C) arising or agreed to in the ordinary
course of business, not relating to any Indebtedness, and that do not, individually or in the
aggregate, materially detract from the value of property or assets of a Loan Party or any
Restricted Subsidiary; (6) existing under, by reason of or with respect to any agreement for the
sale or other disposition of all or substantially all of the capital stock of, or property and
assets of, a Loan Party (other than the Borrower) or a Restricted Subsidiary that restrict
distributions by that Loan Party or Restricted Subsidiary pending such sale or other

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disposition; (7) restrictions on cash or other deposits or net worth imposed by customers or
lessors or required by insurance, surety or bonding companies, in each case, under contracts,
leases or other agreements entered into in the ordinary course of business; and (8) existing under,
by reason of or with respect to customary supermajority voting provisions and customary provisions
with respect to the disposition or distribution of assets or property, in each case contained in
joint venture, partnership, or limited liability company agreements.

          Section 7.27 Prepayments, Etc. of Indebtedness. None of any Loan Party nor any of its
Restricted Subsidiaries will prepay, redeem, purchase, defease or otherwise satisfy prior to the
scheduled maturity thereof in any manner, or make any payment in violation of any subordination
terms of, any Indebtedness (other than Indebtedness incurred pursuant to any clause of Section
7.17 other than clause (b)), except (a) the prepayment of the Loans in accordance with
the terms of this Agreement, (b) regularly scheduled or required repayments or redemptions of
Indebtedness set forth in Schedule 7.17 and Permitted Refinancing Indebtedness with respect
thereto, (c) repayments or redemptions of Indebtedness incurred pursuant to Section 7.17(b)
out of the proceeds of Permitted Refinancing Indebtedness, and (d) if the Cash Flow Ratio for the
Quarter most recently ended (on a pro forma basis but before giving effect to such prepayment,
redemption, purchase, defeasance or other payment) is less than or equal to 4.00:1.00, (i)
prepayments, redemptions, purchases, defeasances and other payments in respect of any subordinated
Indebtedness incurred under Section 7.17(g) or any other Indebtedness that is or is
required to be subordinated to the Obligations pursuant to the terms of the Loan Documents and
Permitted Refinancing Indebtedness with respect thereto prior to their scheduled maturity, and (ii)
prepayments, redemptions, purchases, defeasances and other payments in respect of the Senior Notes
or Permitted Debt.

          Section 7.28 Amendments of Certain Documents. None of the Loan Parties nor any
Restricted Subsidiaries will modify or supplement, or consent to any waiver of any of the
provisions of, any Debt Instrument governing any Indebtedness specified in Schedule 7.17
except to the extent, after giving effect thereto, that such other Indebtedness could be incurred
on such modified or supplemented terms by the Loan Party on the effective date of the modification,
supplement or consent. In addition, none of the Loan Parties will enter into any amendment, or
agree to or accept any waiver, of any of the provisions of (a)(i) the certificate of incorporation
or organization, by-laws, limited liability company agreement, partnership agreement or any other
governing document of any of the Loan Parties or (ii) the Merger Agreement or the Senior Notes
Documents, in each case if doing so would materially adversely affect the rights of the Loan
Parties, the Administrative Agent and the Lenders, or any of them, or (b) any other agreement
between any of the Loan Parties, on the one hand, and any of its Affiliates, on the other hand,
which would have a Materially Adverse Effect.

          Section 7.29 Accounting Changes. None of any Loan Party nor any of its Restricted
Subsidiaries will make any change in (a) its accounting policies or reporting practices as in
effect after consummation of the Merger unless after giving effect thereto such accounting policies
or reporting practices are in accordance with GAAP, provided, however, that the
Borrower may, subject to Section 1.03(b), elect to apply IFRS accounting principles in lieu
of GAAP at any time as it may deem appropriate, or (b) fiscal year.

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          Section 7.30 Activities of Holdings. Holdings shall not engage in any business or
activity other than (a) the ownership of all outstanding Equity Interests in the Borrower, (b)
maintaining its existence, (c) participating in tax, accounting and other administrative activities
as the parent of the consolidated group of companies, including the Loan Parties, (d) the execution
and delivery of the Loan Documents to which it is a party and the performance of its obligations
thereunder, (e) providing guarantees to franchise authorities to guarantee obligations under
Franchises and (f) activities incidental to the businesses or activities described in clauses (a)
through (e) of this Section.

          D. Financial Covenants:

          Section 7.31 Operating Cash Flow to Total Interest Expense. The Borrower and the
Restricted Subsidiaries will cause, for each Measurement Period, the ratio of Annual Operating Cash
Flow to Total Interest Expense for such period of four Quarters ending with such Quarter to be at
least the following respective amounts at all times during the following respective periods:

	 	 	 
	Period	 	Ratio
	March 31, 2011
	 	2.00:1.00
	June 30, 2011
	 	2.00:1.00
	September 30, 2011
	 	2.00:1.00
	December 31, 2011
	 	2.00:1.00
	March 31, 2012
	 	2.25:1.00
	June 30, 2012
	 	2.25:1.00
	September 30, 2012
	 	2.25:1.00
	December 31, 2012
	 	2.25:1.00
	March 31, 2013
	 	2.50:1.00
	June 30, 2013
	 	2.50:1.00
	September 30, 2013
	 	2.50:1.00
	December 31, 2013
	 	2.50:1.00
	March 31, 2014 and thereafter
	 	2.75:1.00

          Section 7.32 Cash Flow Ratio. The Borrower and the Guarantors will not permit the
Cash Flow Ratio to exceed the following respective amounts at any time during the following
Measurement Periods:

	 	 	 
	Period	 	Ratio
	March 31, 2011
	 	8.00:1.00
	June 30, 2011
	 	8.00:1.00
	September 30, 2011
	 	7.75:1.00
	December 31, 2011
	 	7.75:1.00
	March 31, 2012
	 	7.75:1.00
	June 30, 2012
	 	7.75:1.00
	September 30, 2012
	 	6.75:1.00
	December 31, 2012
	 	6.75:1.00
	March 31, 2013
	 	5.75:1.00

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	Period	 	Ratio
	June 30, 2013
	 	5.75:1.00
	September 30, 2013
	 	5.75:1.00
	December 31, 2013
	 	5.75:1.00
	March 31, 2014 and thereafter
	 	5.00:1.00

          Section 7.33 Minimum Liquidity. The Borrower shall maintain at all times Liquidity
equal to at least $25,000,000.

          Section 7.34 Equity Cure. For purposes of determining compliance with the financial
maintenance covenants set forth in Sections 7.31 and 7.32 above, any equity
contribution (in the form of common equity or other equity having terms reasonably acceptable to
the Administrative Agent) made to the Borrower after the last day of any Quarter and on or prior to
the day that is 10 days after the day on which financial statements are required to be delivered
pursuant to Section 7.01 for that Quarter will, at the request of the Borrower, be included
in the calculation of Operating Cash Flow solely for the purposes of determining compliance with
the financial maintenance covenants set forth in Sections 7.31 and 7.32 above for
any periods including such Quarter (any such equity contribution, a “Specified Equity
Contribution”); provided that (a) the Borrower shall not be permitted to so request
that a Specified Equity Contribution be included in the calculation of Annual Operating Cash Flow
with respect to any Quarter unless, after giving effect to such requested Specified Equity
Contribution, there will be a period of at least two consecutive Quarters in the Relevant Four
Fiscal Quarter Period (as defined below) in which no Specified Equity Contribution has been made,
(b) there shall be no more than four Specified Equity Contributions made while any amounts are
outstanding under the Facilities, (c) the amount of any Specified Equity Contribution and the use
of proceeds therefrom will be equal to (but no greater than) the amount of Annual Operating Cash
Flow required to cause the Borrower to be in compliance with the financial maintenance covenants
set forth in Sections 7.31 and 7.32 above minus the Annual Operating Cash Flow for
such fiscal period (as calculated prior to any Specified Equity Contribution), and (d) all
Specified Equity Contributions and the use of proceeds therefrom will be disregarded for all other
purposes under the Loan Documents (including calculating Operating Cash Flow for purposes of
determining basket levels, pricing and other items governed by reference to Operating Cash Flow,
and for purposes of the restricted payments covenant). For purposes of this paragraph, the term
“Relevant Four Fiscal Quarter Period” means, with respect to any requested Specified Equity
Contribution, the four Quarter period ending on (and including) the Quarter in which Operating Cash
Flow will be increased as a result of such Specified Equity Contribution.

ARTICLE VIII

EVENTS OF DEFAULT AND REMEDIES

          Section 8.01 Events of Default. Each of the following shall constitute an “Event of
Default”:

     (a) Any representation or warranty in this Agreement or any other Loan Document or in
any certificate, statement or other document furnished to the Lenders or the Administrative
Agent pursuant hereto (including, without limitation, any amendment

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thereto), or any certification made or deemed to have been made by any Loan Party to
any Lender or the Administrative Agent hereunder, shall prove to have been incorrect, or
shall be breached, in any material respect when made or deemed made; provided that
any representation made pursuant to Section 5.02 in respect of the absence of any
Default shall not constitute an Event of Default if (i) at the time of such representation,
such Default was not known to a Responsible Officer and (ii) prior to such Default, the
absence of which is the subject of such representation, becoming an Event of Default, such
Default has been cured or waived in accordance with this Agreement; or

     (b) (i) Default in the payment when due of any principal of any Revolving Credit Loan,
Term Loan, Swingline Loan or any L/C Obligation, default in the deposit when due of funds as
Cash Collateral in respect of Swingline Loans or L/C Obligations or (ii) default in the
payment when due of interest on any Revolving Credit Loan, Term Loan or on any L/C
Obligation, or any fee due hereunder or any other amount payable to any Revolving Credit
Lender, Term Lender or the Administrative Agent hereunder, and the failure to pay such
interest, fee or such other amount within two Business Days after the same becomes due; or

     (c) Default by any of the Loan Parties in the performance or observance of any of its
agreements in Article VII hereof (other than Section 7.01, Section
7.02, Section 7.03, Section 7.05, Section 7.06, Section
7.07, Section 7.08, Section 7.09, Section 7.10, Section
7.11 Section 7.12, Section 7.13, Section 7.14, Section
7.16, Section 7.20, and Section 7.25 hereof but including Section
7.01(f) hereof); or

     (d) Default by any of the Loan Parties in the performance or observance of any of its
other agreements herein (other than those specified in Section 8.01(c)) or in any
other Loan Document, which shall remain unremedied for 30 days after notice thereof shall
have been given to the Borrower by any Lender or the Administrative Agent (provided
that such period shall be fifteen days and no such notice shall be required in the case of a
default under Section 7.01(d) hereof); or

     (e) Any Indebtedness of any of the Loan Parties (including any Indebtedness hereunder)
or any of the Restricted Subsidiaries in an aggregate principal amount of $25,000,000 or
more, excluding (i) any Indebtedness owing solely to the Borrower or a Restricted Subsidiary
and (ii) any Indebtedness for the deferred purchase price of property or services owed to
the Person providing such property or services as to which the Borrower or such Restricted
Subsidiary has a good faith basis to believe is not due and owing and, to the extent then
appropriate, is contesting its obligation to pay the same in good faith and by proper
proceedings and for which the Borrower or such Restricted Subsidiary has established
appropriate reserves (such Indebtedness under clauses (i) and (ii) above herein called
“Excluded Indebtedness”), shall (i) become due before stated maturity by the
acceleration of the maturity thereof by reason of default or (ii) become due by its terms
and shall not be promptly paid or extended; or

     (f) Any default under any indenture, credit agreement or loan agreement or other
agreement or instrument under which Indebtedness any of the Loan Parties or any of the
Restricted Subsidiaries constituting indebtedness for borrowed money in an

111

 

aggregate principal amount of $25,000,000 or more is outstanding (other than Excluded
Indebtedness), or by which any such Indebtedness is evidenced, shall have occurred and shall
continue for a period of time sufficient to permit the holder or holders of any such
Indebtedness (or a trustee or agent on its or their behalf) to accelerate the maturity
thereof or to enforce any Lien provided for by any such indenture, agreement or instrument,
as the case may be, unless such default shall have been permanently waived by the respective
holder of such Indebtedness; or

     (g) Any Loan Party or any Significant Restricted Subsidiary shall (i) apply for or
consent to the appointment of, or the taking of possession by, a receiver, custodian,
trustee or liquidator of itself or of all or a substantial part of its property, (ii) admit
in writing its inability, or be generally unable, to pay its debts as they become due, (iii)
make a general assignment for the benefit of creditors, (iv) be adjudicated as bankrupt or
insolvent, (v) commence a voluntary case under any Debtor Relief Law (as now or hereafter in
effect), (vi) file a petition seeking to take advantage of any Debtor Relief Law, (vii)
acquiesce in writing to, or fail to controvert in a timely and appropriate manner, any
petition filed against the Borrower or any Significant Restricted Subsidiary in any
involuntary case under any such Debtor Relief Law, or (viii) take any action for the purpose
of effecting any of the foregoing; or

     (h) A case or other proceeding shall be commenced, without the application, approval or
consent of any Loan Party or any Significant Restricted Subsidiary, in any court of
competent jurisdiction, seeking the liquidation, reorganization, dissolution, winding up, or
composition or readjustment or debts of such Loan Party or Significant Restricted
Subsidiary, the appointment of a trustee, receiver, custodian, liquidator or the like for
such Loan Party or Significant Restricted Subsidiary, or of all or any substantial part of
its assets, or any other similar action with respect to such Loan Party or Significant
Restricted Subsidiary under any Debtor Relief Law, and such case or proceeding shall
continue undismissed, or unstayed and in effect, for any period of 60 consecutive days, or
an order for relief against any Loan Party or any Significant Restricted Subsidiary shall be
entered in an involuntary case under any Debtor Relief Law (as now or hereafter in effect);
or

     (i) (i) A judgment for the payment of money in excess of $25,000,000 (to the extent not
covered by insurance) shall be rendered against any Loan Party or any Restricted Subsidiary
and such judgment shall remain unsatisfied and in effect for any period of 60 consecutive
days without a stay of execution or (if a stay is not provided for by applicable law)
without having been fully bonded or (ii) a final judgment or final judgments for the payment
of money are entered by a court or courts of competent jurisdiction against any Loan Party
or any Restricted Subsidiary and either (x) an enforcement proceeding shall have been
commenced by any creditor upon such judgment or (y) such judgment remains undischarged and
unbonded for a period (during which execution shall not be effectively stayed) of 60 days;
provided, that, the aggregate of all such judgments exceeds $25,000,000 (to the
extent not covered by insurance); or

     (j) (i) Any Termination Event shall occur; (ii) an application for a minimum funding
waiver with respect to any Plan is made; (iii) any Person shall engage in any

112

 

Prohibited Transaction involving any Plan; (iv) the Borrower or any ERISA Affiliate is
in “default” (as defined in Section 4219(c)(5) of ERISA) with respect to payments to a
Multiemployer Plan resulting from the Borrower’s or any ERISA Affiliate’s complete or
partial withdrawal (as described in Section 4203 or 4205 of ERISA) from such Multiemployer
Plan; (v) the conditions for imposition of a lien under Section 302(k) of ERISA shall have
been met with respect to a Plan; (vi) the Borrower or any ERISA Affiliate shall fail to pay
when due an amount which is payable by it to the PBGC or to a Plan under Title IV of ERISA;
(vii) the assumption of, or any material increase in, the contingent liability of the
Borrower or any Restricted Subsidiary with respect to any post-retirement welfare liability;
and any or all of such events described in clauses (i) through (vii) as applicable result in
a liability of the Borrower or ERISA Affiliate in excess of $25,000,000; or

     (k) (i) Dolan Family Interests shall cease at any time to have beneficial ownership
(within the meaning of Rule 13d-3 (as in effect on the date hereof) promulgated under the
Securities Exchange Act of 1934, as amended) of shares of the capital stock of Cablevision
having sufficient votes to elect (or otherwise designate) at such time a majority of the
members of the Board of Directors of Cablevision, (ii) Cablevision shall cease to own (free
and clear of all Liens) directly or indirectly a majority of the common Equity Interests in
Holdings, or any Person (other than Cablevision or a direct or indirect wholly-owned
Subsidiary of Cablevision) shall obtain the legal or contractual right to own, or to cause
the transfer of the ownership of, any of the common Equity Interests in Holdings, without
regard to any require approval of any other Person, or (iii) Holdings shall cease to own,
directly or indirectly, 100% of the Equity Interests in Borrower, or any Person (other than
Holdings or a direct or indirect wholly-owned Subsidiary of Holdings) shall obtain the legal
or contractual right to own, or to cause the transfer of the ownership of, any of the Equity
Interests in Borrower, without regard to any required approval of any other Person; or

     (l) Any of the Loan Parties or any of their respective Affiliates (including any
Restricted Subsidiary) institutes any proceedings seeking to establish or any Person obtains
a judgment establishing that (i) any provision of the Loan Documents is invalid, not binding
or unenforceable or (ii) the Lien created, or purported to be created, by the Loan Documents
is not a valid and perfected first priority security interest in the property in which such
Lien is created, or purported to be created, pursuant to the Loan Documents.

          Section 8.02 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:

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

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     (ii) 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;

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

     (iv) exercise on behalf of itself, the Lenders and the L/C Issuer all rights
and remedies available to it and such 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, any obligation of
the Swingline Lender to advance Swingline 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.

          Section 8.03 Application of Funds. After the exercise of remedies provided for in
Section 8.02 (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 8.02), 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 and amounts payable under Article
III), 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, L/C Borrowings and other
Obligations, to the extent due and payable, ratably among the Lenders and the L/C Issuer in
proportion to the respective amounts described in this clause Third payable to them;

          Fourth, to payment of that portion of the Obligations constituting unpaid
principal of the Loans, L/C Borrowings and amounts owing under Secured Hedge

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Agreements and Secured Cash Management Agreements, and which have become due and owing,
ratably among the Lenders, the L/C Issuer, the Hedge Banks and the Cash Management Banks in
proportion to the respective amounts described in this clause Fourth held by them;

          Fifth, to the Administrative Agent for the account of the L/C Issuer, to Cash
Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of
Letters of Credit; 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 Fifth 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 IX

THE ADMINISTRATIVE AGENT

          Section 9.01 Appointment and Authority. (a) Each of the Lender Parties hereby
irrevocably appoints Citibank, N.A. 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 and the Lender
Parties, and neither the Borrower nor any other Loan Party shall have rights as a third party
beneficiary of any of such provisions..

          (b) The Administrative Agent shall also act as the “collateral agent” under the Loan
Documents, and each of the Lenders (in its capacities as a Lender, potential Hedge Bank and
potential Cash Management Bank) and the L/C Issuer hereby irrevocably appoints and authorizes the
Administrative Agent to act as the agent of such Lender and the L/C Issuer for purposes of
acquiring, holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties
to secure any of the Obligations, together with such powers and discretion as are reasonably
incidental thereto. In this connection, the Administrative Agent, as “collateral agent” and any
co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to
Section 9.05 for purposes of holding or enforcing any Lien on the Collateral (or any
portion thereof) granted under the Collateral Documents, or for exercising any rights and remedies
thereunder at the direction of the Administrative Agent), shall be entitled to the benefits of all
provisions of this Article IX and Article X (including Section 10.04(c), as
though such co-agents, sub-agents and attorneys-in-fact were the “collateral agent” under the Loan
Documents) as if set forth in full herein with respect thereto.

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          Section 9.02 Administrative Agent Individually. (a) The Person serving as the
Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender
Party as any other Lender Party and may exercise the same as though it were not the Administrative
Agent and the term “Lender Party” or “Lender Parties” 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 the Borrower 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 Lender Parties.

          (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in
its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged
in a wide range of financial services and businesses (including investment management, financing,
securities trading, corporate and investment banking and research) (such services and businesses
are collectively referred to in this Section 9.02 as “Activities”) and may engage
in the Activities with or on behalf of one or more of the Loan Parties or their respective
Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading
in financial products or undertake other investment businesses for its own account or on behalf of
others (including the Loan Parties and their Affiliates and including holding, for its own account
or on behalf of others, equity, debt and similar positions in the Borrower, another Loan Party or
their respective Affiliates), including trading in or holding long, short or derivative positions
in securities, loans or other financial products of one or more of the Loan Parties or their
Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the
Agent’s Group may receive or otherwise obtain information concerning the Loan Parties or their
Affiliates (including information concerning the ability of the Loan Parties to perform their
respective Obligations hereunder and under the other Loan Documents) which information may not be
available to any of the Lender Parties that are not members of the Agent’s Group. None of the
Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any
Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so
disclose or use, any information whatsoever about or derived from the Activities or otherwise
(including any information concerning the business, prospects, operations, property, financial and
other condition or creditworthiness of any Loan Party or any Affiliate of any Loan Party) or to
account for any revenue or profits obtained in connection with the Activities, except that the
Administrative Agent shall deliver or otherwise make available to each Lender Party such documents
as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the
Lender Parties.

          (c) Each Lender Party further understands that there may be situations where members of the
Agent’s Group or their respective customers (including the Loan Parties and their Affiliates)
either now have or may in the future have interests or take actions that may conflict with the
interests of any one or more of the Lender Parties (including the interests of the Lender Parties
hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the
Agent’s Group is or shall be required to restrict its activities as a result of the Person serving
as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s
Group may undertake any Activities without further consultation with or

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notification to any Lender Party. None of (i) this Agreement nor any other Loan Document,
(ii) the receipt by the Agent’s Group of information (including Information) concerning the Loan
Parties or their Affiliates (including information concerning the ability of the Loan Parties to
perform their respective Obligations hereunder and under the other Loan Documents) nor (iii) any
other matter shall give rise to any fiduciary, equitable or contractual duties (including without
limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the
Agent’s Group to any Lender Party including any such duty that would prevent or restrict the
Agent’s Group from acting on behalf of customers (including the Loan Parties or their Affiliates)
or for its own account.

          Section 9.03 Duties of Administrative Agent; Exculpatory Provisions. (a) The
Administrative Agent’s duties hereunder and under the other Loan Documents are solely ministerial
and administrative in nature and 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 shall not have any duty to take any
discretionary action or exercise any discretionary powers, but shall be required to act or refrain
from acting (and shall be fully protected in so acting or refraining from acting) upon the written
direction of 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 or any of its Affiliates to liability or that
is contrary to any Loan Document or applicable law.

          (b) 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 Section 10.06 or Section 8.02)
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 or the event or events that give or may give
rise to any Default unless and until the Borrower or any Lender Party shall have given notice to
the Administrative Agent describing such Default and such event or events.

          (c) Neither the Administrative Agent nor any member of the Agent’s Group shall be responsible
for or have any duty to ascertain or inquire into (i) any statement, warranty, representation or
other information made or supplied in or in connection with this Agreement, any other Loan Document
or the Information Memorandum, (ii) the contents of any certificate, report or other document
delivered hereunder or thereunder or in connection herewith or therewith or the adequacy, accuracy
and/or completeness of the information contained therein, (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 the perfection
or priority of any Lien or security interest created or purported to be created by the Collateral
Documents or (v) the satisfaction of any condition set forth in Article V or elsewhere
herein, other than (but subject to the foregoing

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clause (ii)) to confirm receipt of items expressly required to be delivered to the
Administrative Agent.

          (d) Nothing in this Agreement or any other Loan Document shall require the Administrative
Agent or any of its Related Parties to carry out any “know your customer” or other checks in
relation to any Person on behalf of any Lender Party and each Lender Party confirms to the
Administrative Agent that it is solely responsible for any such checks it is required to carry out
and that it may not rely on any statement in relation to such checks made by the Administrative
Agent or any of its Related Parties.

          Section 9.04 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 Party, the
Administrative Agent may presume that such condition is satisfactory to such Lender Party unless an
officer of the Administrative Agent responsible for the transactions contemplated hereby shall have
received notice to the contrary from such Lender Party prior to the making of such Loan or the
issuance of such Letter of Credit, and in the case of a Borrowing, such Lender Party shall not have
made available to the Administrative Agent such Lender Party’s ratable portion of such Borrowing.
The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower or any
other Loan Party), 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.

          Section 9.05 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. Each such sub-agent and the Related Parties of the
Administrative Agent and each such sub-agent shall be entitled to the benefits of all provisions of
this Article IX and Section 10.04 (as though such sub-agents were the
“Administrative Agent” under the Loan Documents) as if set forth in full herein with respect
thereto.

          Section 9.06 Resignation of Administrative Agent. (a) The Administrative Agent may at
any time give notice of its resignation to the Lender Parties 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 (such 30-day period, the
“Lender Party Appointment Period”), then the retiring Administrative

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Agent may on behalf of the Lender Parties, appoint a successor Administrative Agent meeting
the qualifications set forth above. In addition and without any obligation on the part of the
retiring Administrative Agent to appoint, on behalf of the Lender Parties, a successor
Administrative Agent, the retiring Administrative Agent may at any time upon or after the end of
the Lender Party Appointment Period notify the Borrower and the Lender Parties that no qualifying
Person has accepted appointment as successor Administrative Agent and the effective date of such
retiring Administrative Agent’s resignation. Upon the resignation effective date established in
such notice and regardless of whether a successor Administrative Agent has been appointed and
accepted such appointment, the retiring Administrative Agent’s resignation shall nonetheless become
effective and (i) the retiring Administrative Agent shall be discharged from its duties and
obligations as Administrative Agent hereunder and under the other Loan Documents and (ii) 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 Party directly, until such time as
the Required Lenders appoint a successor Administrative Agent as provided for above in this
paragraph. 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 as Administrative Agent of the retiring (or retired) Administrative Agent, and the retiring
Administrative Agent shall be discharged from all of its duties and obligations as Administrative
Agent hereunder or under the other Loan Documents (if not already discharged therefrom as provided
above in this paragraph). The fees payable by the Borrower to a successor Administrative Agent
shall be the same as those payable to its predecessor 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 IX and Section 10.04 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.

          (b) Any resignation pursuant to this Section by a Person acting as Administrative Agent shall,
unless such Person shall notify the Borrower and the Lender Parties otherwise, also act to relieve
such Person and its Affiliates of any obligation to advance or issue new, or extend existing,
Swingline Loans or Letters of Credit where such advance, issuance or extension is to occur on or
after the effective date of such resignation. Upon the acceptance of a successor’s appointment as
Administrative Agent hereunder, (i) such successor shall succeed to and become vested with all of
the rights, powers, privileges and duties of the retiring L/C Issuer and Swingline Lender, (ii) the
retiring L/C Issuer and Swingline Lender shall be discharged from all of their respective duties
and obligations hereunder or under the other Loan Documents, (iii) the successor Swingline Lender
shall enter into an Assignment and Assumption and acquire from the retiring Swingline Lender each
outstanding Swingline Loan of such retiring Swingline Lender for a purchase price equal to par plus
accrued interest and (iv) 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
arrangement 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.

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           (c) In addition to the foregoing, if a Lender becomes, and during the period it
remains, a Defaulting Lender or a Potential Defaulting Lender, the L/C Issuer and/or the Swingline
Lender may, at any time, upon giving 20 Business Days’ prior written notice to the Borrower and the
Administrative Agent, resign as L/C Issuer or Swingline Lender, respectively, effective at the
close of business New York time on a date specified in such notice; provided that such
resignation by the L/C Issuer shall have no effect on the validity or enforceability of any Letter
of Credit then outstanding or on the obligations of the Borrower or any Lender under this Agreement
with respect to any such outstanding Letter of Credit or otherwise to the L/C Issuer; and
provided, further, that such resignation by the Swingline Lender shall have no
effect on its rights in respect of any outstanding Swingline Loans or on the obligations of the
Borrower or any Lender under this Agreement with respect to any such outstanding Swingline Loan.

          Section 9.07 Non-Reliance on Administrative Agent and Other Lender Parties. (a) Each
Lender Party confirms to the Administrative Agent, each other Lender Party and each of their
respective Related Parties that it (i) possesses (individually or through its Related Parties) such
knowledge and experience in financial and business matters that it is capable, without reliance on
the Administrative Agent, any other Lender Party or any of their respective Related Parties, of
evaluating the merits and risks (including tax, legal, regulatory, credit, accounting and other
financial matters) of (x) entering into this Agreement, (y) making Loans and other extensions of
credit hereunder and under the other Loan Documents and (z) in taking or not taking actions
hereunder and thereunder, (ii) is financially able to bear such risks and (iii) has determined that
entering into this Agreement and making Loans and other extensions of credit hereunder and under
the other Loan Documents is suitable and appropriate for it.

          (b) Each Lender Party acknowledges that (i) it is solely responsible for making its own
independent appraisal and investigation of all risks arising under or in connection with this
Agreement and the other Loan Documents, (ii) that it has, independently and without reliance upon
the Administrative Agent, any other Lender Party or any of their respective Related Parties, made
its own appraisal and investigation of all risks associated with, and its own credit analysis and
decision to enter into, this Agreement based on such documents and information, as it has deemed
appropriate and (iii) it will, independently and without reliance upon the Administrative Agent,
any other Lender Party or any of their respective Related Parties, continue to be solely
responsible for making its own appraisal and investigation of all risks arising under or in
connection with, and its own credit analysis and decision to take or not take action under, this
Agreement and the other Loan Documents based on such documents and information as it shall from
time to time deem appropriate, which may include, in each case:

     (A) the financial condition, status and capitalization of the Borrower and each other
Loan Party;

     (B) the legality, validity, effectiveness, adequacy or enforceability of this Agreement
and each other Loan Document and any other agreement, arrangement or document entered into,
made or executed in anticipation of, under or in connection with any Loan Document;

     (C) determining compliance or non-compliance with any condition hereunder to the making
of a Loan, or the issuance of a Letter of Credit and the form and substance

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of all evidence delivered in connection with establishing the satisfaction of each such
condition;

     (D) the adequacy, accuracy and/or completeness of the Information Memorandum and any
other information delivered by the Administrative Agent, any other Lender Party or by any of
their respective Related Parties under or in connection with this Agreement or any other
Loan Document, the transactions contemplated hereby and thereby or any other agreement,
arrangement or document entered into, made or executed in anticipation of, under or in
connection with any Loan Document.

          Section 9.08 No Other Duties, etc. Anything herein to the contrary notwithstanding,
none of the Persons acting as Joint Lead Arranger, Joint Bookrunning Managers, Syndication Agents
or Documentation Agents listed on the cover page hereof 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 or as a Lender Party hereunder.

          Section 9.09 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 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 Administrative Agent under Section 2.03(i) and (j),
Section 2.08 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, if 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 Section 2.08.

          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

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of reorganization, arrangement, adjustment or composition affecting the Obligations or the
rights of any Lender or the L/C Issuer or to authorize the Administrative Agent to vote in respect
of the claim of any Lender the L/C Issuer or in any such proceeding.

          Section 9.10 Collateral and Guaranty Matters. The Lenders and the L/C Issuer
irrevocably authorize the Administrative Agent, at its option and in its discretion,

          (a) to release any Lien on any property granted to or held by the Administrative Agent under
any Loan Document (i) upon termination of the Aggregate Commitments and payment in full of all
Obligations (other than contingent indemnification obligations) and the expiration or termination
of all Letters of Credit, (ii) that is sold or to be sold as part of or in connection with any sale
permitted hereunder or under any other Loan Document, or (iii) if approved, authorized or ratified
in writing in accordance with Section 10.01;

          (b) 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; and

          (c) to subordinate any Lien on any property granted to or held by the Administrative Agent
under any Loan Document to the holder of any Lien on such property that is permitted by Section
7.19(b).

          Upon request by the Administrative Agent at any time, the Required Lenders will confirm in
writing the Administrative Agent’s authority to release or subordinate its interest in particular
types or items of property, or to release any Guarantor from its obligations under the Guaranty
pursuant to this Section 9.10. In each case as specified in this Section 9.10, the
Administrative Agent will, at the Borrower’s expense, execute and deliver to the applicable Loan
Party such documents as such Loan Party may reasonably request to evidence the release of such item
of Collateral from the assignment and security interest granted under the Collateral Documents or
to subordinate its interest in such item, or to release such Guarantor from its obligations under
the Guaranty, in each case in accordance with the terms of the Loan Documents and this Section
9.10.

          Section 9.11 Removal of Administrative Agent. Anything herein to the contrary
notwithstanding, if at any time the Required Lenders determine that the Person serving as
Administrative Agent is (without taking into account any provision in the definition of “Defaulting
Lender” or “Potential Defaulting Lender” requiring notice from the Administrative Agent or any
other party) a Defaulting Lender or a Potential Defaulting Lender, the Required Lenders (determined
after giving effect to Section 10.01) may by notice to the Borrower and such Person remove
such Person as Administrative Agent and appoint a replacement Administrative Agent hereunder with
the consent of the Borrower (such consent not to be unreasonably withheld), provided that
(i) such removal shall, to the fullest extent permitted by applicable law, in any event become
effective if no such replacement Administrative Agent is appointed hereunder within 30 days after
the giving of such notice and (ii) no such consent of the Borrower shall be required if an Event of
Default has occurred and is continuing at the time of such appointment.

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ARTICLE X

MISCELLANEOUS

          Section 10.01 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 Borrower or the applicable
Loan Party, as the case may be, and the Required Lenders, 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, however, that no such amendment, waiver
or consent shall:

     (a) waive any conditions set forth in Sections 5.01 as to the initial Credit
Extension hereunder without the written consent of each Lender;

     (b) extend or increase the Commitment of a Lender (or reinstate any Commitment of a
Lender terminated pursuant to Section 8.02) without the written consent of such
Lender;

     (c) postpone any date fixed by this Agreement or any other Loan Document for any
payment (excluding mandatory prepayments) of principal, interest, fees or other amounts due
to the Lenders (or any of them) hereunder or under such other Loan Document without the
written consent of each Lender entitled to such payment;

     (d) reduce the principal of, or the rate of interest specified herein on, any Loan or
L/C Borrowing, or (subject to clause (v) of the second proviso to this Section
10.01) any fees or other amounts payable hereunder or under any other Loan Document
without the written consent of each Lender entitled to such amount;

     (e) change (i) any provision of this Section 10.01 or the definition of
“Required Lenders” or any other provision hereof specifying the number or percentage of
Lenders required to amend, waive or otherwise modify any rights hereunder or make any
determination or grant any consent hereunder (other than the definitions specified in clause
(ii) of this Section 10.01(e)), without the written consent of each Lender or (ii)
the definition of “Required Revolving Lenders” or “Required Incremental Term Lenders”
without the written consent of each Lender under the applicable Facility or Facilities;

     (f) release all or substantially all of the Collateral in any transaction or series of
related transactions, without the written consent of each Lender;

     (g) release or remove all or substantially all of the value of the Guarantees, taken as
a whole, without the written consent of each Lender; or

     (h) effect any waiver, amendment or modification that affects the rights of Lenders
participating in the Revolving Credit Facility, without the consent of the Required
Revolving Lenders.

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and provided, further, that (i) no amendment, waiver or consent shall, unless in
writing and signed by the L/C Issuer in addition to the Lenders required above, 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; (ii) no amendment, waiver or consent shall, unless in writing
and signed by the Swingline Lender in addition to the Lenders required above, affect the rights or
duties of the Swingline Lender under this Agreement or any other Loan Document; (iii) no amendment,
waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to
the Lenders required above, affect the rights or duties of the Administrative Agent under this
Agreement or any other Loan Document; (iv) Section 10.06(h) may not be amended, waived or
otherwise modified without the consent of each Granting Lender all or any part of whose Loans are
being funded by an SPC at the time of such amendment, waiver or other modification; and (v) the Fee
Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the
parties thereto.

     Anything herein to the contrary notwithstanding, during such period as a Lender is a
Defaulting Lender, to the fullest extent permitted by applicable Law such Lender shall not be
entitled to vote in respect of amendments and waivers hereunder and the Commitment and the
outstanding Loans or other Credit Extension of such Lender hereunder shall not be taken into
account in determining whether the Required Lenders or all of the Lenders, as the case may be, have
approved any such amendment or waiver (and the definition of “Required Lenders” shall automatically
be deemed modified accordingly for the duration of such period); provided, that any such
amendment or waiver that would increase or extend the term of the Commitment of such Defaulting
Lender, or extend the date fixed for the payment of principal or interest owing to such Defaulting
Lender hereunder, or reduce the principal amount of any obligation owing to such Defaulting Lender,
or reduce the amount of or the rate or amount of interest on any amount owing to such Defaulting
Lender, or of any fee payable to such Defaulting Lender hereunder, or alter the terms of this
proviso, shall require the consent of such Defaulting Lender.

          Notwithstanding anything to the contrary herein, no Affiliate of the Borrower that is a Lender
shall have any right to approve or disapprove any amendment, waiver or consent hereunder and any
amendment, waiver or consent which by its terms requires the consent of all Lenders or each
affected Lender may be effected with the consent of the applicable Lenders other than such
affiliated Lenders, except that any waiver, amendment or modification requiring the consent of all
Lenders or each affected Lender that by its terms affects any such affiliated Lender in its
capacity as a Lender more adversely than other affected Lenders shall require the consent of such
affiliated Lender.

          Section 10.02 Notices; Effectiveness; Electronic Communications; Confidentiality(a).
(a) All notices, demands, requests, consents and other communications provided for in this
Agreement shall be given in writing, or by any telecommunication device capable of creating a
written record (including electronic mail), and addressed to the party to be notified as follows:

          (i) if to the Borrower or any other Loan Party,

BBHI Acquisition LLC

c/o Cablevision Systems Corporation

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1111 Stewart Avenue

Bethpage, New York 11714

Attention of: Treasurer

Facsimile No.: (516)803 2213

E-Mail Address: KWATSON@cablevision.com

Each with a copy to:

Sullivan & Cromwell LLP

Attention: John Mead

125 Broad Street

New York, New York 10004-2498

Telephone: (212)558 3764

Facsimile No.: (212)558-3588

          (ii) if to the Administrative Agent

Citibank, N.A.

1615 Brett Road

OPS III

New Castle, DE 19720

Attention of: Citibank Loans Agency

Facsimile No.: (212) 994-0961

E-Mail Address: glutilityagencyloansops@citi.com

          (iii) if to the Collateral Agent

Citibank, N.A.

388 Greenwich St, 37th Floor

New York, NY 10013

Attention of: Laura Neenan re: CABLEVISION/BRESNAN

          (iv) if to the L/C Issuer,

1615 Brett Road

OPS III

New Castle, DE 19720

Attention of: Citibank Loans Agency

Facsimile No.: (212) 994-0961

E-Mail Address: glutilityagencyloansops@citi.com

          (v) if to the Swingline Lender

1615 Brett Road

OPS III

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New Castle, DE 19720

Attention of: Citibank Loans Agency

Facsimile No.: (212) 994-0961

E-Mail Address: glutilityagencyloansops@citi.com

     (v) if to any other Lender Party, to it at its address (or facsimile number) set forth
in its Administrative Questionnaire.

or at such other address as shall be notified in writing (x) in the case of the Borrower, the
Administrative Agent and the Swingline Lender, to the other parties and (y) in the case of all
other parties, to the Borrower and the Administrative Agent.

          (b) All notices, demands, requests, consents and other communications described in clause (a)
shall be effective (i) if delivered by hand, including any overnight courier service, upon personal
delivery, (ii) if delivered by mail, when deposited in the mails, (iii) if delivered by posting to
an Approved Electronic Platform, an Internet website or a similar telecommunication device
requiring that a user have prior access to such Approved Electronic Platform, website or other
device (to the extent permitted by clause (d) below to be delivered thereunder), when such
notice, demand, request, consent and other communication shall have been made generally available
on such Approved Electronic Platform, Internet website or similar device to the class of Person
being notified (regardless of whether any such Person must accomplish, and whether or not any such
Person shall have accomplished, any action prior to obtaining access to such items, including
registration, disclosure of contact information, compliance with a standard user agreement or
undertaking a duty of confidentiality) and such Person has been notified in respect of such posting
that a communication has been posted to the Approved Electronic Platform and (iv) if delivered by
electronic mail or any other telecommunications device, when transmitted to an electronic mail
address (or by another means of electronic delivery) as provided in clause (a); provided,
however, that notices and communications to the Administrative Agent pursuant to
Article II or Article IX shall not be effective until received by the
Administrative Agent.

          (c) Notwithstanding clauses (a) and (b) (unless the Administrative Agent requests that the
provisions of clause (a) and (b) be followed) and any other provision in this Agreement or any
other Loan Document providing for the delivery of any Approved Electronic Communication by any
other means, the Loan Parties shall deliver all Approved Electronic Communications to the
Administrative Agent by properly transmitting such Approved Electronic Communications in an
electronic/soft medium in a format acceptable to the Administrative Agent to
oploanswebadmin@citigroup.com or such other electronic mail address (or similar means of electronic
delivery) as the Administrative Agent may notify to the Borrower. Nothing in this clause (c) shall
prejudice the right of the Administrative Agent or any Lender Party to deliver any Approved
Electronic Communication to any Loan Party in any manner authorized in this Agreement or to request
that the Borrower effect delivery in such manner.

          (d) Electronic Communications. (i) Each of the Lender Parties and each Loan Party
agree that the Administrative Agent may, but shall not be obligated to, make the Approved
Electronic Communications available to the Lender Parties by posting such Approved Electronic

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Communications on IntraLinksTM or a substantially similar electronic platform chosen by the
Administrative Agent to be its electronic transmission system (the “Approved Electronic
Platform”).

          (ii) Although the Approved Electronic Platform and its primary web portal are secured
with generally-applicable security procedures and policies implemented or modified by the
Administrative Agent from time to time (including, as of the Closing Date, a dual firewall
and a User ID/Password Authorization System) and the Approved Electronic Platform is secured
through a single-user-per-deal authorization method whereby each user may access the
Approved Electronic Platform only on a deal-by-deal basis, each of the Lender Parties and
each Loan Party acknowledges and agrees that the distribution of material through an
electronic medium is not necessarily secure and that there are confidentiality and other
risks associated with such distribution. In consideration for the convenience and other
benefits afforded by such distribution and for the other consideration provided hereunder,
the receipt and sufficiency of which is hereby acknowledged, each of the Lender Parties and
each Loan Party hereby approves distribution of the Approved Electronic Communications
through the Approved Electronic Platform and understands and assumes the risks of such
distribution.

          (iii) THE APPROVED ELECTRONIC PLATFORM AND THE APPROVED ELECTRONIC COMMUNICATIONS ARE
PROVIDED “AS IS” AND “AS AVAILABLE”. NONE OF THE ADMINISTRATIVE AGENT NOR ANY OTHER MEMBER
OF THE AGENT’S GROUP WARRANT THE ACCURACY, ADEQUACY OR COMPLETENESS OF THE APPROVED
ELECTRONIC COMMUNICATIONS OR THE APPROVED ELECTRONIC PLATFORM AND EACH EXPRESSLY DISCLAIMS
ANY LIABILITY FOR ERRORS OR OMISSIONS IN THE APPROVED ELECTRONIC COMMUNICATIONS OR THE
APPROVED ELECTRONIC PLATFORM. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY,
INCLUDING, WITHOUT LIMITATION, 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 THE AGENT PARTIES IN CONNECTION WITH THE APPROVED ELECTRONIC
COMMUNICATIONS OR THE APPROVED ELECTRONIC PLATFORM.

          (iv) Each of the Lender Parties and each Loan Party agree that the Administrative Agent
may, but (except as may be required by applicable law) shall not be obligated to, store the
Approved Electronic Communications on the Approved Electronic Platform in accordance with
the Administrative Agent’s generally-applicable document retention procedures and policies.

          (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 Committed Loan Notices) purportedly given by or on behalf of the Borrower even if (i)
such notices were not made in a manner specified herein, were incomplete or were not preceded or
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 Borrower

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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 the Borrower. 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.

          (f) Confidentiality. Each of the Administrative Agent and the Lender Parties 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 on a need
to know basis (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, any action or proceeding relating to this Agreement or any other Loan
Document, the enforcement of rights hereunder or thereunder, (f) subject to an agreement (a copy of
which is provided to the Borrower) containing provisions substantially the same as those of this
Section (other than in the case of a pledge to any Federal Reserve Bank), 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, (ii) any pledge referred to in Section 10.06(f), (iii) any actual or
prospective swap counterparty (or its managers, administrators, trustees, partners, directors,
officers, employees, agents, advisors and other representatives) surety, reinsurer, guarantor or
credit liquidity enhancer (or their advisors) to or in connection with any swap, derivative or
other similar transaction under which payments are to be made by reference to the Obligations or to
the Borrower and its obligations or to this Agreement or payments hereunder, (iv) to any rating
agency when required by it or (v) the CUSIP Service Bureau or any similar organization, (g) with
the written consent of the Borrower or (h) to the extent such Information (i) becomes publicly
available other than as a result of a breach of this Section or (ii) becomes available to the
Administrative Agent, any Lender Party or any of their respective Affiliates on a non-confidential
basis from a source other than the Borrower or any other Loan Party. For purposes of this Section,
“Information” means all information received from any Loan Party or any Subsidiary thereof
relating to any Loan Party or any Subsidiary thereof or any of their respective businesses, other
than any such information that is available to the Administrative Agent or any Lender Party on a
non-confidential basis prior to disclosure by any Loan Party or any Subsidiary thereof,
provided that, in the case of information received from a Loan Party or any such
Subsidiaries after the Closing Date, such information is not marked “PUBLIC” or otherwise
identified at the time of delivery as confidential.

          (g) Treatment of Information. (i) Certain of the Lenders may enter into this
Agreement and take or not take action hereunder or under the other Loan Documents on the basis of
information that does not contain material non-public information with respect to any of the Loan
Parties or their securities (“Restricting Information”). Other Lenders may enter into this
Agreement and take or not take action hereunder or under the other Loan Documents on the basis of
information that may contain Restricting Information. Each Lender Party acknowledges that

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United States federal and state securities laws prohibit any Person from purchasing or selling
securities on the basis of material, non-public information concerning the such issuer of such
securities or, subject to certain limited exceptions, from communicating such information to any
other Person. Neither the Administrative Agent nor any of its Related Parties shall, by making any
Communications (including Restricting Information) available to a Lender Party, by participating in
any conversations or other interactions with a Lender Party or otherwise, make or be deemed to make
any statement with regard to or otherwise warrant that any such information or Communication does
or does not contain Restricting Information nor shall the Administrative Agent or any of its
Related Parties be responsible or liable in any way for any decision a Lender Party may make to
limit or to not limit its access to Restricting Information. In particular, none of the
Administrative Agent nor any of its Related Parties (i) shall have, and the Administrative Agent,
on behalf of itself and each of its Related Parties, hereby disclaims, any duty to ascertain or
inquire as to whether or not a Lender Party has or has not limited its access to Restricting
Information, such Lender Party’s policies or procedures regarding the safeguarding of material,
nonpublic information or such Lender Party’s compliance with applicable laws related thereto or
(ii) shall have, or incur, any liability to any Loan Party or Lender Party or any of their
respective Related Parties arising out of or relating to the Administrative Agent or any of its
Related Parties providing or not providing Restricting Information to any Lender Party.

          (ii) Each Loan Party agrees that (i) all Communications it provides to the Administrative
Agent intended for delivery to the Lender Parties whether by posting to the Approved Electronic
Platform or otherwise shall be clearly and conspicuously marked “PUBLIC” if such Communications do
not contain Restricting Information which, at a minimum, means that the word “PUBLIC” shall appear
prominently on the first page thereof, (ii) by marking Communications “PUBLIC,” each Loan Party
shall be deemed to have authorized the Administrative Agent and the Lender Parties to treat such
Communications as either publicly available information or not material information (although, in
this latter case, such Communications may contain sensitive business information and, therefore,
remain subject to the confidentiality undertakings of Section 10.02(f) with respect to such
Loan Party or its securities for purposes of United States Federal and state securities laws, (iii)
all Communications marked “PUBLIC” may be delivered to all Lender Parties and may be made available
through a portion of the Approved Electronic Platform designated “Public Side Information,” and
(iv) the Administrative Agent shall be entitled to treat any Communications that are not marked
“PUBLIC” as Restricting Information and may post such Communications to a portion of the Approved
Electronic Platform not designated “Public Side Information.” Neither the Administrative Agent nor
any of its Affiliates shall be responsible for any statement or other designation by a Loan Party
regarding whether a Communication contains or does not contain material non-public information with
respect to any of the Loan Parties or their securities nor shall the Administrative Agent or any of
its Affiliates incur any liability to any Loan Party, any Lender Party or any other Person for any
action taken by the Administrative Agent or any of its Affiliates based upon such statement or
designation, including any action as a result of which Restricting Information is provided to a
Lender Party that may decide not to take access to Restricting Information. Nothing in this
Section 10.02(f) shall modify or limit a Lender Party’s obligations under Section
10.02(f) with regard to Communications and the maintenance of the confidentiality of or other
treatment of Information.

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          (iii) Each Lender Party acknowledges that circumstances may arise that require it to refer to
Communications that might contain Restricting Information. Accordingly, each Lender Party agrees
that it will nominate at least one designee to receive Communications (including Restricting
Information) on its behalf and identify such designee (including such designee’s contact
information) on such Lender Party’s Administrative Questionnaire. Each Lender Party agrees to
notify the Administrative Agent from time to time of such Lender Party’s designee’s e-mail address
to which notice of the availability of Restricting Information may be sent by electronic
transmission.

          (iv) Each Lender Party acknowledges that Communications delivered hereunder and under the
other Loan Documents may contain Restricting Information and that such Communications are available
to all Lender Parties generally. Each Lender Party that elects not to take access to Restricting
Information does so voluntarily and, by such election, acknowledges and agrees that the
Administrative Agent and other Lender Parties may have access to Restricting Information that is
not available to such electing Lender Party. None of the Administrative Agent nor any Lender Party
with access to Restricting Information shall have any duty to disclose such Restricting Information
to such electing Lender Party or to use such Restricting Information on behalf of such electing
Lender Party, and shall not be liable for the failure to so disclose or use, such Restricting
Information.

          (v) The provisions of the foregoing clauses of this Section 10.02(g) are designed to
assist the Administrative Agent, the Lender Parties and the Loan Parties, in complying with their
respective contractual obligations and applicable law in circumstances where certain Lender Parties
express a desire not to receive Restricting Information notwithstanding that certain Communications
hereunder or under the other Loan Documents or other information provided to the Lender Parties
hereunder or thereunder may contain Restricting Information. Neither the Administrative Agent nor
any of its Related Parties warrants or makes any other statement with respect to the adequacy of
such provisions to achieve such purpose nor does the Administrative Agent or any of its Related
Parties warrant or make any other statement to the effect that a Loan Party’s or Lender Party’s
adherence to such provisions will be sufficient to ensure compliance by such Loan Party or Lender
Party with its contractual obligations or its duties under applicable law in respect of Restricting
Information and each of the Lender Parties and each Loan Party assumes the risks associated
therewith.

          Section 10.03 No Waiver; Cumulative Remedies. No failure on the part of the
Administrative Agent, the L/C Issuer or any Lender to exercise, and no delay by any such Person in
exercising, and no course of dealing with respect to, any right, remedy, power or privilege under
this Agreement or any other Loan Document shall operate as a waiver thereof, nor shall any single
or partial exercise of any right, remedy, power or privilege under this Agreement or any other Loan
Document preclude any other or further exercise thereof or the exercise of any other right, power
or privilege. The right, remedy, power or privilege provided herein, and provided under any other
Loan Document, are cumulative and not exclusive of any right, remedy, power or privilege provided
by law.

          Section 10.04 Expenses; Indemnity; Damage Waiver. (a) Costs and Expenses.
The Borrower 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 Shearman &
Sterling LLP, counsel for the Administrative Agent and of special and local counsel to the

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Lenders retained by the Administrative Agent following consultation with the Borrower), for
which an invoice has been presented to the Borrower, in connection with the preparation, due
diligence, administration, syndication and closing 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, for which an invoice has been presented to the
Borrower, in connection with the issuance, amendment, renewal or extension of any Letter of Credit
or any demand for payment thereunder and (iii) all expenses incurred by the Administrative Agent,
any Lender or the L/C Issuer (including the fees, charges and disbursements of one primary counsel
for the Administrative Agent and one additional counsel for the Lenders), for which an invoice has
been presented to the Borrower, in connection with the enforcement or protection of its rights (A)
in connection with this Agreement and the other Loan Documents, including its rights under this
Section, or (B) in connection with 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 Borrower. The Borrower shall indemnify the Administrative
Agent (and any sub-agent thereof), the Joint Lead Arrangers, the Lenders and each of their
respective Affiliates, officers, directors, employees and agents (each such Person being called an
“Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims,
damages, liabilities and related reasonable out of pocket documented expenses (including, without
limitation, the reasonable out of pocket and invoiced fees, disbursements and other charges of (i)
one counsel, (ii) in the case of a material conflict between two or more Indemnitees, as so
determined in the reasonable opinion of existing counsel, one additional counsel, and (iii) one
local counsel in each applicable jurisdiction) (collectively, the “Losses”), incurred by
any Indemnitee or asserted against any Indemnitee by any third party or by the Borrower (but
excluding any proceeding brought by a third party or a Lender against any other Lender (in such
Lender’s capacity as a Lender and not in any capacity as a Joint Lead Arranger or the
Administrative Agent)), 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 Affiliates, officers,
directors, employees and agents only, the administration of this Agreement and the other Loan
Documents, (ii) any Loan or the use or proposed use of the proceeds therefrom, or (iii) any claim,
litigation, investigation or proceeding (or preparation of a defense in connection therewith)
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 or any of the Borrower’s or
such Loan Party’s directors, shareholders or creditors, and regardless of whether any Indemnitee is
a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available
to the extent that such losses, claims, damages, liabilities or related expenses have resulted from
the gross negligence, bad faith, or willful misconduct or material breach of the obligations under
this Agreement or any other Loan Document of such Indemnitee.

          (c) Reimbursement by Lenders. To the extent that the Borrower for any reason fails to
indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it
to the Administrative Agent (or any sub-agent thereof), the L/C Issuer or any

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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 2.11(d).

          (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee,
on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to
direct or actual damages) arising out of, in connection with, or as a result of, this Agreement,
any other Loan Document or any agreement or instrument contemplated 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
Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations.

          Section 10.05 Payments Set Aside. To the extent that any payment by or on behalf of
the Borrower 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 Federal Funds Rate from time to time in effect. 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.

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          Section 10.06 Successors and Assigns. (a) Successors and Assigns Generally. The
provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns permitted hereby, except that neither the Borrower nor
any other Loan Party may assign or otherwise transfer any of its rights or obligations hereunder
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 Eligible
Assignee in accordance with the provisions of Section 10.06(b), (ii) by way of
participation in accordance with the provisions of Section 10.06(d), (iii) by way of pledge
or assignment of a security interest subject to the restrictions of Section 10.06(f), or
(iv) to an SPC in accordance with the provisions of Section 10.06(h) (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 (other than the Swingline Lender with respect
to the Swingline Loans) may at any time assign to one or more Eligible Assignees all or a portion
of its rights and obligations under this Agreement (including all or a portion of its Commitment
and the Loans (including for purposes of this Section 10.06(b), participations in L/C
Obligations) 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 under any Facility and the Loans at the time owing to
it under such Facility 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 $1,000,000, in the case of any assignment in respect of the Revolving Credit
Facility, or $1,000,000, in the case of any assignment in respect of a Term
Facility, 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 Eligible
Assignee (or to an Eligible Assignee and members of its

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Assignee Group) will be treated as a single assignment for purposes of
determining whether such minimum amount has been met;

          (ii) Proportionate Amounts. Each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s rights and obligations
under this Agreement with respect to the Loans or the Commitment assigned, except that this
clause (ii) shall not prohibit any Lender from assigning all or a portion of its rights and
obligations among separate Facilities on a non-pro rata basis;

          (iii) 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 Commitment or Revolving Credit Commitment if such
assignment is to a Person that is not a Lender with a Commitment in respect
of the applicable Facility, 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 or the Borrower or any
of its Affiliates or Subsidiaries; and

     (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).

          (iv) 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 equal to $3,500; provided,
however, that 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
shall not be a Lender, shall deliver to the Administrative Agent an Administrative
Questionnaire.

          (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 Eligible Assignee thereunder shall be a party to this 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 the assigning Lender thereunder shall, to the

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extent of the interest assigned by such Assignment and Assumption, be released from its
obligations under this 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 Section 3.01, Section
3.04, Section 3.05 and Section 10.04 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 Section 10.06(d).

          (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) 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 Lenders and the L/C Issuer 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 (b),
(c), (d), (f) or (g) of the first proviso to Section 10.01
that affects such Participant. Subject to subsection (e) of this Section, the Borrower agrees that
each Participant shall be entitled to the benefits of Section 3.01, Section 3.04
and Section 3.05 to the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to Section 10.06(b). To the extent permitted by law, each Participant
also shall be entitled to the benefits of Section 10.07 as though it were a Lender;
provided such Participant agrees to be subject to Section 2.12 as though it were a
Lender.

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          (e) Limitations upon Participant Rights. A Participant shall not be entitled to
receive any greater payment under Section 3.01 or Section 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) Electronic Execution of Assignments. The words “execution,” “signed,”
“signature,” and words of like import in any Assignment and Assumption 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.

          (h) Special Purpose Funding Vehicles. Notwithstanding anything to the contrary
contained herein, any Lender (a “Granting Lender”) may grant to a special purpose funding
vehicle identified as such in writing from time to time by the Granting Lender to the
Administrative Agent and the Borrower (an “SPC”) the option to provide all or any part of
any Loan that such Granting Lender would otherwise be obligated to make pursuant to this Agreement;
provided that (i) nothing herein shall constitute a commitment by any SPC to fund any Loan,
and (ii) if an SPC elects not to exercise such option or otherwise fails to make all or any part of
such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof
or, if it fails to do so, to make such payment to the Administrative Agent as is required under
Section 2.11(b)(ii). Each party hereto hereby agrees that (i) neither the grant to any SPC
nor the exercise by any SPC of such option shall increase the costs or expenses or otherwise
increase or change the obligations of the Borrower under this Agreement (including its obligations
under Section 3.04), (ii) no SPC shall be liable for any indemnity or similar payment
obligation under this Agreement for which a Lender would be liable, and (iii) the Granting Lender
shall for all purposes, including the approval of any amendment, waiver or other modification of
any provision of any Loan Document, remain the lender of record hereunder. The making of a Loan by
an SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if,
such Loan were made by such Granting Lender. In furtherance of the foregoing, each party hereto
hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the
date that is one year and one day after the payment in full of all outstanding commercial paper or
other senior debt of any SPC, it will not institute against, or join any other Person in
instituting against, such SPC any bankruptcy, reorganization,

136

 

arrangement, insolvency, or liquidation proceeding under the laws of the United States or any
State thereof. Notwithstanding anything to the contrary contained herein, any SPC may (i) with
notice to, but without prior consent of the Borrower and the Administrative Agent and with the
payment of a processing fee in the amount of $2,500, assign all or any portion of its right to
receive payment with respect to any Loan to the Granting Lender and (ii) disclose on a confidential
basis any non-public information relating to its funding of Loans to any rating agency, commercial
paper dealer or provider of any surety or Guarantee or credit or liquidity enhancement to such SPC.

          (i) Resignation as L/C Issuer after Assignment. Notwithstanding anything to the
contrary contained herein, if at any time Citibank assigns all of its Revolving Credit Commitments
and Revolving Credit Loans pursuant to Section 10.06(b), Citibank may upon 30 days’ notice
to the Borrower and the Lenders, resign as L/C Issuer. In the event of any such resignation as L/C
Issuer, the Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer
hereunder; provided, however, that no failure by the Borrower to appoint any such
successor shall affect the resignation of Citibank as L/C Issuer. If Citibank 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)). Upon the appointment and acceptance of a successor L/C Issuer, (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 (b) 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 Citibank to effectively assume the obligations of Citibank with
respect to such Letters of Credit.

          Section 10.07 Right of Setoff. 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, 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 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.

137

 

          Section 10.08 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.

          Section 10.09 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 shall be effective as
delivery of a manually executed counterpart of this Agreement.

          Section 10.10 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.

          Section 10.11 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 of the illegal, invalid or unenforceable provisions.
The invalidity of a provision in a particular jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

          Section 10.12 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

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any Governmental Authority for the account of any Lender pursuant to Section 3.01, or
if any Lender gives a notice pursuant to Section 3.02, or if any Lender is a Defaulting
Lender and the Borrower gives a notice pursuant to Section 2.16(f), 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 10.06), 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 10.06(b)(iv);

     (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 payments required to be made pursuant to Section 3.01, such
assignment will result in a reduction in such compensation or payments thereafter; and

     (d) such assignment does not conflict with applicable Laws.

          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.

          Section 10.13 Governing Law; Jurisdiction; Etc. (a) GOVERNING LAW. THIS
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

          (b) SUBMISSION TO JURISDICTION. THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY
AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THE
COURTS OF THE STATE OF NEW YORK AND OF THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA SITTING
IN THE BOROUGH OF MANHATTAN, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR
ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES
THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW
YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT.

139

 

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 10.02. NOTHING IN THIS AGREEMENT WILL AFFECT
THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

          Section 10.14 Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY
LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT
OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF
ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

          Section 10.15 No Advisory or Fiduciary Responsibility. In connection with all aspects
of each transaction contemplated hereby, the Borrower acknowledges and agrees that: (i) the credit
facilities provided for hereunder and any related arranging or other services in connection
therewith (including in connection with any amendment, waiver or other modification hereof or of
any other Loan Document) are an arm’s-length commercial transaction

140

 

between the Borrower and its Affiliates, on the one hand, and the Administrative Agent and
Joint Lead Arrangers, on the other hand, and the Borrower is capable of evaluating and
understanding and understands and accepts the terms, risks and conditions of the transactions
contemplated hereby and by the other Loan Documents (including any amendment, waiver or other
modification hereof or thereof); (ii) in connection with the process leading to such transaction,
the Administrative Agent and the Joint Lead Arrangers each is and has been acting solely as a
principal and is not the financial advisor, agent or fiduciary, for the Borrower or any of its
Affiliates, stockholders, creditors or employees or any other Person; (iii) neither the
Administrative Agent, the Lenders nor any Joint Lead Arranger has assumed or will assume an
advisory, agency or fiduciary responsibility in favor of the Borrower with respect to any of the
transactions contemplated hereby or the process leading thereto, including with respect to any
amendment, waiver or other modification hereof or of any other Loan Document (irrespective of
whether the Administrative Agent, any Lender or any Joint Lead Arranger has advised or is currently
advising the Borrower or any of its Affiliates on other matters) and neither the Administrative
Agent, any Lender nor any Joint Lead Arranger 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; (iv) the Administrative Agent and the Joint Lead
Arrangers 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 any Joint Lead Arranger has any obligation to disclose any of such
interests by virtue of any advisory, agency or fiduciary relationship; and (v) the Administrative
Agent and the Joint Lead Arrangers have not provided and will not provide any legal, accounting,
regulatory or tax advice with respect to any of the transactions contemplated hereby (including any
amendment, waiver or other modification hereof or of any other Loan Document) and the Borrower has
consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed
appropriate. The Borrower hereby waives and releases, to the fullest extent permitted by law, any
claims that it may have against the Administrative Agent and the Joint Lead Arrangers with respect
to any breach or alleged breach of agency or fiduciary duty.

          Section 10.16 USA PATRIOT Act Notice. 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 each Loan Party, which information includes the name
and address of each Loan Party and other information that will allow such Lender or the
Administrative Agent, as applicable, to identify each Loan Party in accordance with the Act.

          Section 10.17 No Liability of Members, Partners and Other Persons. No limited
partner, member, officer, manager, employee, director, stockholder or other holder of an ownership
interest of or in any Loan Party or any partnership, limited liability company, corporation or
other entity which is a stockholder or other holder of an ownership interest of or in any Loan
Party shall have any personal liability in respect of such obligations by reason of his, her or its
status as such limited partner, officer, manager, employee, director, stockholder or holder. In
addition, no general partner of any Loan Party that is a partnership, joint venture or joint
adventure shall have any personal liability in respect of such Loan Party’s obligation under this
Agreement or the Notes by reason of his, her or its status as such general partner.

141

 

          Section 10.18 Authorization of Third Parties to Deliver Information and Discuss
Affairs. The Borrower hereby confirms that it has authorized and directed each Person whose
preparation or delivery to the Administrative Agent or the Lenders of any opinion, report or other
information is a condition or covenant under this Agreement (including under Article V and
Article VII) to so prepare or deliver such opinions, reports or other information for the
benefit of the Administrative Agent and the Lenders. The Borrower agrees to confirm such
authorizations and directions provided for in this Section 10.18 from time to time as may
be requested by the Administrative Agent.

[SIGNATURE PAGES FOLLOW]

142

 

           IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the day and year first above written.

	 	 	 	 	 	 	 

	 	 	BBHI ACQUISITION
LLC, as Borrower	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Kevin Watson	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Kevin Watson	 	
	 

	 	 	 	Title: Senior Vice President
& Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	BBHI HOLDINGS LLC
	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Kevin Watson	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Kevin Watson	 	
	 

	 	 	 	Title: Senior Vice President
& Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	CITIBANK, N.A.,
as Administrative Agent,
Collateral Agent, L/C Issuer, Swingline
Lender  and a Lender
	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Timothy P. Dilworth	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Timothy P. Dilworth	 	
	 

	 	 	 	Title: Vice President
	 	 
	 
	 	 	 	 	 	 
	 	 	BANK OF AMERICA,
N.A.,
as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Todd Shipley	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Todd Shipley	 	
	 

	 	 	 	Title: Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	BARCLAYS BANK PLC,
as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Kevin Cullen	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Kevin Cullen	 	 
	 

	 	 	 	Title: Director	 	 
	 
	 	 	 	 	 	 
	 	 	CREDIT SUISSE AG CAYMAN
ISLANDS BRANCH,
as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Doreen Barr	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Doreen Barr	 	 
	 

	 	 	 	Title: Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Rahal Parmar	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Rahal Parmar	 	 
	 

	 	 	 	Title: Associate	 	 
	 
	 	 	 	 	 	 
	 	 	UBS LOAN FINANCE LLC,
as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Irja R. Otsa	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Irja R. Otsa	 	 
	 

	 	 	 	Title: Associate
Director

          Banking Products

          Services US	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ April Varner-Nanton	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: April Varner-Nanton	 	 
	 

	 	 	 	Title: Director

          Banking Products

          Services US

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