Document:

EX-10.1 CREDIT AGREEMENT

CREDIT AGREEMENT

dated as of May 16, 2008

by and among

AGCO CORPORATION

and

CERTAIN SUBSIDIARIES NAMED HEREIN,

as Borrowers,

THE LENDERS NAMED HEREIN,

as Lenders,

COÖPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.,

“RABOBANK NEDERLAND”, NEW YORK BRANCH,

as Sole Lead Arranger and Book Runner,

and

THE BANK OF TOKYO – MITSUBISHI UFJ, LTD., NEW YORK BRANCH,

as Syndication Agent,

and

SUNTRUST BANK,

as Documentation Agent

and

COÖPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.,

“RABOBANK NEDERLAND”, NEW YORK BRANCH,

as Administrative Agent

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE 1. DEFINITIONS AND ACCOUNTING TERMS
	 	 	1	 
	 
	 	 	 	 
	Section 1.1 Certain Defined Terms
	 	 	1	 
	Section 1.2 Computation of Time Periods
	 	 	30	 
	Section 1.3 Accounting Terms
	 	 	30	 
	Section 1.4 Currency Equivalents
	 	 	31	 
	Section 1.5 Construction
	 	 	31	 
	 
	 	 	 	 
	ARTICLE 2. AMOUNTS AND TERMS OF THE LOANS AND THE LETTERS OF CREDIT
	 	 	31	 
	 
	 	 	 	 
	Section 2.1 Revolving Credit Facility
	 	 	31	 
	Section 2.2 Making the Revolving Loans
	 	 	32	 
	Section 2.3 Reduction of the Commitments
	 	 	36	 
	Section 2.4 Prepayments and Deposits
	 	 	36	 
	Section 2.5 Interest
	 	 	37	 
	Section 2.6 Fees
	 	 	38	 
	Section 2.7 Conversion and Designation of Interest Periods
	 	 	39	 
	Section 2.8 Payments and Computations
	 	 	39	 
	Section 2.9 Sharing of Payments, Etc
	 	 	41	 
	Section 2.10 Letters of Credit
	 	 	41	 
	Section 2.11 Defaulting Lenders
	 	 	45	 
	Section 2.12 Borrower Liability
	 	 	45	 
	Section 2.13 Designated Borrowers
	 	 	46	 
	 
	 	 	 	 
	ARTICLE 3. CONDITIONS PRECEDENT
	 	 	47	 
	 
	 	 	 	 
	Section 3.1 Conditions Precedent to Agreement Date
	 	 	47	 
	Section 3.2 Conditions Precedent to Each Borrowing and Issuance
	 	 	49	 
	Section 3.3 Determinations Under Section 3.1
	 	 	50	 
	 
	 	 	 	 
	ARTICLE 4. REPRESENTATIONS AND WARRANTIES
	 	 	50	 
	 
	 	 	 	 
	Section 4.1 Representations and Warranties of the Borrowers
	 	 	50	 
	Section 4.2 Survival of Representations and Warranties, etc
	 	 	56	 
	 
	 	 	 	 
	ARTICLE 5. AFFIRMATIVE COVENANTS
	 	 	57	 
	 
	 	 	 	 
	Section 5.1 Compliance with Laws, Etc
	 	 	57	 
	Section 5.2 Preservation of Existence, Etc
	 	 	57	 
	Section 5.3 Payment of Taxes and Claims
	 	 	57	 
	Section 5.4 Compliance with Environmental Laws
	 	 	58	 
	Section 5.5 Maintenance of Insurance
	 	 	58	 
	Section 5.6 Visitation Rights
	 	 	58	 
	Section 5.7 Accounting Methods
	 	 	58	 
	Section 5.8 Maintenance of Properties, Etc
	 	 	59	 

-i-

 

	 	 	 	 	 
	 	 	Page
	Section 5.9 Intentionally Omitted
	 	 	59	 
	Section 5.10 ERISA
	 	 	59	 
	Section 5.11 Conduct of Business
	 	 	59	 
	Section 5.12 Further Assurances
	 	 	59	 
	Section 5.13 Broker’s Claims
	 	 	59	 
	Section 5.14 Additional Domestic Subsidiaries
	 	 	60	 
	Section 5.15 Use of Proceeds
	 	 	60	 
	Section 5.16 Covenants of the Borrowing Subsidiaries
	 	 	60	 
	 
	 	 	 	 
	ARTICLE 6. INFORMATION COVENANTS
	 	 	60	 
	 
	 	 	 	 
	Section 6.1 Reporting Requirements
	 	 	60	 
	Section 6.2 Access to Accountants
	 	 	63	 
	 
	 	 	 	 
	ARTICLE 7. NEGATIVE COVENANTS
	 	 	63	 
	 
	 	 	 	 
	Section 7.1 Indebtedness
	 	 	63	 
	Section 7.2 Intentionally Omitted
	 	 	64	 
	Section 7.3 Liens, Etc
	 	 	64	 
	Section 7.4 Restricted Payments
	 	 	64	 
	Section 7.5 Sale-Leasebacks
	 	 	65	 
	Section 7.6 Fundamental Changes, Etc
	 	 	65	 
	Section 7.7 Sales of Assets
	 	 	65	 
	Section 7.8 Investments
	 	 	66	 
	Section 7.9 Acquisitions
	 	 	67	 
	Section 7.10 Change in Nature of Business
	 	 	67	 
	Section 7.11 Affiliate Transactions
	 	 	67	 
	Section 7.12 Amendments
	 	 	68	 
	Section 7.13 Prepayments of Subordinated Indebtedness
	 	 	68	 
	Section 7.14 Restrictions; Negative Pledge
	 	 	68	 
	Section 7.15 Accounting Changes
	 	 	69	 
	Section 7.16 Issuance or Sales of Stock
	 	 	69	 
	Section 7.17 No Notice Under Indentures
	 	 	69	 
	Section 7.18 Financial Covenants
	 	 	69	 
	Section 7.19 Covenants of the Borrowing Subsidiaries
	 	 	70	 
	Section 7.20 Anti-Terrorism Laws
	 	 	70	 
	Section 7.21 Speculative Transactions
	 	 	70	 
	 
	 	 	 	 
	ARTICLE 8. EVENTS OF DEFAULT
	 	 	70	 
	 
	 	 	 	 
	Section 8.1 Events of Default
	 	 	70	 
	Section 8.2 Remedies
	 	 	73	 
	Section 8.3 Actions in Respect of the Letters of Credit
	 	 	74	 
	Section 8.4 Application of Payments
	 	 	74	 
	 
	 	 	 	 
	ARTICLE 9. THE ADMINISTRATIVE AGENT
	 	 	75	 
	 
	 	 	 	 
	Section 9.1 Authorization and Action
	 	 	75	 

 

 

	 	 	 	 	 
	 	 	Page
	Section 9.2 Administrative Agent’s Reliance, Etc
	 	 	75	 
	Section 9.3 Administrative Agent, in its Individual Capacity and Affiliates
	 	 	76	 
	Section 9.4 Lender Credit Decision
	 	 	77	 
	Section 9.5 Notice of Default or Event of Default
	 	 	77	 
	Section 9.6 Indemnification
	 	 	77	 
	Section 9.7 Successor Administrative Agent
	 	 	78	 
	Section 9.8 Administrative Agent May File Proofs of Claim
	 	 	78	 
	Section 9.9 Documentation Agent and Syndication Agent
	 	 	78	 
	 
	 	 	 	 
	ARTICLE 10. MISCELLANEOUS
	 	 	79	 
	 
	 	 	 	 
	Section 10.1 Amendments, Etc
	 	 	79	 
	Section 10.2 Notices, Etc
	 	 	80	 
	Section 10.3 No Waiver: Remedies
	 	 	80	 
	Section 10.4 Costs and Expenses
	 	 	80	 
	Section 10.5 Right of Set-off
	 	 	82	 
	Section 10.6 Binding Effect
	 	 	82	 
	Section 10.7 Assignments and Participations
	 	 	82	 
	Section 10.8 Marshalling; Payments Set Aside
	 	 	85	 
	Section 10.9 Delivery of Lender Addenda
	 	 	86	 
	Section 10.10 Contribution Among Guarantors
	 	 	86	 
	Section 10.11 Patriot Act
	 	 	86	 
	 
	 	 	 	 
	ARTICLE 11. INCREASED COSTS, TAXES, ETC
	 	 	86	 
	 
	 	 	 	 
	Section 11.1 Increased Costs, Etc
	 	 	86	 
	Section 11.2 LIBO Breakage Costs
	 	 	89	 
	Section 11.3 Judgment Currency
	 	 	89	 
	Section 11.4 Taxes
	 	 	90	 
	Section 11.5 Replacement of a Lender
	 	 	93	 
	 
	 	 	 	 
	ARTICLE 12. JURISDICTION
	 	 	94	 
	 
	 	 	 	 
	Section 12.1 Consent to Jurisdiction
	 	 	94	 
	Section 12.2 Governing Law
	 	 	95	 
	Section 12.3 Execution in Counterparts
	 	 	95	 
	Section 12.4 No Liability of the Issuing Bank
	 	 	95	 
	Section 12.5 Certain Cash Deposits
	 	 	96	 
	Section 12.6 Waiver of Jury Trial
	 	 	96	 
	 
	 	 	 	 
	ARTICLE 13. CONFIDENTIALITY
	 	 	96	 
	 
	 	 	 	 

 

 

EXHIBITS AND SCHEDULES:

	 	 	 
	Exhibit A

	 	Form of Assignment and Acceptance
	Exhibit B

	 	Form of Notice of Borrowing
	Exhibit C

	 	Form of Lender Addendum
	Exhibit D

	 	Form of Designated Borrower Request and Assumption Agreement
	Exhibit E

	 	From of Designated Borrower Notice
	 
	 	 
	Schedule G-1

	 	Guarantors
	Schedule 2.10

	 	Existing Letters of Credit
	Schedule 4.1(b)

	 	Subsidiaries; Material Subsidiaries and Joint Ventures
	Schedule 4.1(l)

	 	ERISA Matters
	Schedule 4.1(n)

	 	Environmental Matters
	Schedule 4.1(o)

	 	Tax Matters
	Schedule 4.1(t)

	 	Indebtedness

-iv-

 

CREDIT AGREEMENT

This CREDIT AGREEMENT (this “Agreement”) dated as of May 16, 2008 by and among AGCO
CORPORATION, a Delaware corporation (“AGCO”), AGCO INTERNATIONAL LIMITED, an English
corporation (“AGCO UK”), AGCO INTERNATIONAL HOLDINGS B.V., a Dutch company, having its
corporate seat in Grubbenvorst, the Netherlands (“AGCO BV”; and together with AGCO and AGCO
UK, each are referred to herein collectively as the “Initial Borrowers” and individually as
a “Initial Borrower”); the lenders (the “Lenders”) signatory hereto; COÖPERATIEVE
CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND”, NEW YORK BRANCH
(“Rabobank”), as sole lead arranger and book runner; and COÖPERATIEVE CENTRALE
RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND”, NEW YORK BRANCH, as administrative agent for
the Lenders (together with any successor, in such capacity, the “Administrative Agent”).

WITNESSETH:

     WHEREAS, AGCO, certain subsidiaries of AGCO, the Administrative Agent and certain other
financial institutions are parties to that certain Credit Agreement dated as of December 22, 2003
(as amended, restated, supplemented or otherwise modified from time to time, the “Existing
Credit Agreement”); and

     WHEREAS, AGCO and each other Initial Borrower operate related businesses, each being integral
to the other; and

     WHEREAS, AGCO and each other Initial Borrower acknowledge that the credit facility provided
hereby is and will be of direct interest, benefit and advantage to each of them, and will enable
them to achieve synergy and economies of scale; and

     WHEREAS, at the request of AGCO and each other Initial Borrower, the Administrative Agent, the
Issuing Bank and the Lenders have agreed to extend the credit provided for hereunder;

     NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration,
the parties hereto hereby agree as follows:

ARTICLE 1. DEFINITIONS AND ACCOUNTING TERMS

     Section 1.1 Certain Defined Terms. As used in this Agreement, the following terms
shall have the following meanings (such meanings to be equally applicable to both the singular and
plural forms of the terms defined):

     “Adjusted Unused Commitment” means, with respect to any Lender at any date of
determination, (a) such Lender’s Commitment at such time, minus (b) the Equivalent Amount
in U.S. Dollars as of such date of (i) the aggregate principal amount of all Revolving Loans made
by such Lender and outstanding on such date, plus (ii) such Lender’s Pro Rata Share of (x)
the aggregate Available Amount of all Letters of Credit issued for the account of any Borrower and

1

 

outstanding on such date, plus (y) the aggregate principal amount of all Letter of
Credit Advances outstanding on such date in respect of Letters of Credit issued for the account of
any Borrower.

     “Administrative Agent” has the meaning specified in the introductory paragraph of this
Agreement.

     “Administrative Agent’s Account” means:

          (a) for U.S. Dollars, the account of the Administrative Agent with JPMorgan Chase Bank N.A.,
ABA # 021000021, For the Account of: Rabobank, New York Branch, Account No. 400-212307, For
Further Credit to: AGCO Corporation, Reference: Loan Synd./ 80900, Attention: Loan
Syndications/Sui Price;

          (b) for British pounds, the account of the Administrative Agent maintained with HSBC London,
Swift # MIDLGB22, For the Account of: Rabobank, London (RABOGB2L), Account No. SORT Code: 405091,
For Further Credit to: Rabobank, New York Branch, Account No. 1429957021, Reference AGCO
Corporation;

          (c) for Euros, the account of the Administrative Agent maintained with Coöperatieve Centrale
Raiffeisen-Boerenleenbank B.A., “Rabobank Nederland”, Utrecht Branch, The Netherlands, Swift #
RABONL2U, For the Account of: Rabobank, New York Branch (RABOUS33), Account No. 390817333,
Reference: AGCO Corporation; or

          (d) for Canadian Dollars, the account of the Administrative Agent maintained with Canadian
Imperial Bank of Commerce, ABA # CIBCCATT, For the Account of: Rabobank, New York Branch
(RABOUS33), Account No. 1482610, Reference: AGCO Corporation.

     “Affected Lender” has the meaning specified in Section 11.5.

     “Affiliate” means, as to any Person, any other Person that, directly or indirectly,
controls, is controlled by or is under common control with such Person or is a director, officer or
partner of such Person. For purposes of this definition, the term “control” (including the terms
“controlling,” “controlled by” and “under common control with”) of a Person includes (a) the direct
or indirect beneficial ownership by such other Person of ten percent (10%) or more of the
outstanding voting securities or voting equity of such Person or (b) by such other Person of the
power, directly or indirectly, to direct or cause the direction of the management and policies of
such Person, whether through the ownership of Stock, by contract or otherwise; provided that no
mutual fund shall be deemed to be an Affiliate of such Person solely by reason of having the power
to vote ten percent (10%) or more of the voting Stock of such Person.

     “AGCO” has the meaning specified in the introductory paragraph of this Agreement.

     “AGCO BV” has the meaning specified in the introductory paragraph of this Agreement.

     “AGCO UK” has the meaning specified in the introductory paragraph of this Agreement.

2

 

     “Agreed Alternative Currency” has the meaning specified in Section
2.2(a)(viii).

     “Agreement” means this Agreement.

     “Agreement Date” means the date as of which this Agreement is dated.

     “Anti-Terrorism Laws” means, collectively, any law, regulation or order relating to
terrorism, national security, U.S. embargoes or other sanctions, or money laundering, including,
without limitation, the International Emergency Economic Powers Act (50 U.S.C. § 1701 et seq.), the
Trading with the Enemy Act (50 U.S.C. § 5 et seq.), the International Security Development and
Cooperation Act (22 U.S.C. § 2349aa-9 et seq.), Executive Order No. 13224, and the USA Patriot Act,
and any rules and regulations promulgated pursuant to or under the authority of any of the
foregoing (including, without limitation, the rules and regulations promulgated or administered by
OFAC).

     “Applicable Accounting Standards” means, as of the date of this Agreement, GAAP;
provided, however, that AGCO may, upon not less than sixty (60) days prior written
notice to the Administrative Agent, change to IFRS; provided, however, (a) such
notice of its change to IFRS shall be accompanied by a description in reasonable detail of any
material variation between the application of accounting principles under GAAP and the application
of accounting principles under IFRS in calculating the financial covenants under Section
7.18 hereof and the reasonable estimates of the difference between such calculations arising as
a consequence thereof, and (b) if such change is deemed by the Administrative Agent to be material
or detrimental to the Lenders, such change shall not be effective for purposes of calculating the
financial covenants hereunder until AGCO and the Required Lenders have agreed upon amendments to
the financial covenants contained herein to reflect any change in such basis.

     “Applicable Law” means, in respect of any Person, all provisions of constitutions,
statutes, rules, regulations, permits and orders of governmental bodies or regulatory agencies
applicable to such Person, and all orders and decrees of all courts and arbitrators in proceedings
or actions to which the Person in question is a party or by which it is bound.

     “Applicable Lending Office” means, with respect to each Lender, such Lender’s Domestic
Lending Office in the case of a Base Rate Loan denominated in U.S. Dollars and such Lender’s LIBOR
Lending Office for Loans denominated in any Offshore Currency.

     “Applicable Margin” means, as of any date of determination, the per annum interest
rate margin from time to time in effect and payable, set forth below:

3

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Applicable	 	 	 	 
	 	 	 	 	Margin for	 	 	 	 
	 	 	 	 	LIBO Rate	 	 	 	 
	 	 	 	 	Revolving	 	 	 	 
	 	 	 	 	Loans and for	 	 	 	 
	 	 	 	 	Base Rate	 	Applicable	 	 
	 	 	 	 	Revolving	 	Margin for Base	 	 
	 	 	 	 	Loans in	 	Rate Revolving	 	Applicable
	 	 	 	 	Offshore	 	Loans in U.S.	 	Margin for
	Level	 	Total Debt Ratio	 	Currencies	 	Dollars	 	Unused Fee
	Level I
	 	Greater than or equal to

2.50 to 1.00

	 	 	1.75	%	 	 	0.50	%	 	 	0.35	%
	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Level II
	 	Greater than or equal to

2.00 to 1.00 but less than

2.50 to 1.00

	 	 	1.50	%	 	 	0.25	%	 	 	0.30	%
	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Level III
	 	Greater than or equal to

1.50 to 1.00 but less than

2.00 to 1.00

	 	 	1.25	%	 	 	0.00	%	 	 	0.25	%
	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Level IV
	 	Less than 1.50 to 1.00

	 	 	1.00	%	 	 	0.00	%	 	 	0.20	%
	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 

; provided, however, if AGCO’s corporate family rating from S&P and Moody’s is
“BBB-” and “Baa3”, respectively, or better, the Applicable Margin for both the Base Rate Loans and
the LIBO Rate Loans shall be decreased by 0.25% (but shall not be less than 0.00%) from the
applicable amount shown in the table above and the Applicable Margin for the Unused Fee shall be
decreased by 0.05% from the applicable amount shown in the table above. The Applicable Margin for
each Revolving Loan and the Unused Fee shall be determined by reference to the Total Debt Ratio in
effect from time to time at the end of each fiscal quarter based on the financial statement for the
most recently ended fiscal quarter and the three immediately preceding completed fiscal quarters;
provided, however, that (x) no change in the Applicable Margin shall be effective
until three (3) Business Days after the date on which the Administrative Agent receives financial
statements pursuant to Section 6.1(b) and (c), as the case may be, and a
certificate of an Authorized Financial Officer of AGCO demonstrating such ratio, attaching thereto
a schedule in form reasonably satisfactory to the Administrative Agent of the computations used by
AGCO in determining such Total Debt Ratio, (y) the Applicable Margin shall be at Level IV as set
forth in the table above from the Agreement Date through and including the third Business Day after
the Administrative Agent receives the information required by clause (x) of this proviso for the
first fiscal quarter ending March 31, 2008, and (z) the Applicable Margin shall be at Level I as
set forth in the table above (i) if AGCO has not submitted to the Administrative Agent the
information described in clause (x) of this proviso as and when required under Section
6.1(b) or (c), as the case may be, for so long as such information has not been
received by the Administrative Agent, and (ii) at the election of the Administrative Agent or the
Required Lenders, upon the occurrence and during the continuation of any Event of Default (whether
or not the Default Rate of interest shall then be in effect).

4

 

Anything contained herein to the contrary notwithstanding, in the event that any financial
statement or any financial compliance schedule or certificate (a “Compliance Certificate”)
required to be delivered pursuant to Section 6.1 is shown to be inaccurate (regardless of
whether this Agreement or the Revolving Loan Facility is in effect when such inaccuracy is
discovered), and such inaccuracy, if corrected, would have led to the application of a higher
Applicable Margin with respect to any Loans or the Unused Fee for any period (an “Applicable
Period”) than the Applicable Margin applied for such Applicable Period, then the Borrowers
shall immediately (a) deliver to the Administrative Agent a corrected Compliance Certificate for
such Applicable Period, (b) determine the Applicable Margin with respect to such Loans and the
Unused Fee for such Applicable Period based upon the corrected Compliance Certificate, and (c) pay
to the Administrative Agent the accrued additional interest and the Unused Fee owing as a result of
such increased Applicable Margin for such Applicable Period, which payment shall be promptly
distributed to the Lenders. This provision shall not limit the rights of the Administrative Agent
and the Lenders with respect to Section 2.6(b) and Article VIII.

     “Applicant Borrower” has the meaning specified in Section 2.13.

     “Approved 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 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.

     “Asset Disposition” means the disposition of any or all of the assets (including,
without limitation, the Stock of a Subsidiary or any ownership interest in a joint venture) of any
Borrower or any Subsidiary whether by sale, lease, transfer or otherwise, excluding the
sale of Inventory in the ordinary course of business and the sale of Receivables pursuant to a
Securitization Facility.

     “Assignment and Acceptance” means an assignment and acceptance entered into by a
Lender and an Eligible Assignee, accepted by the Administrative Agent, and in accordance with
Section 10.7 and in substantially the form of Exhibit A hereto.

     “Authorized Financial Officer” of a Person means the Chief Financial Officer, the
Treasurer, the Assistant Treasurer, the Controller or such other senior officer of such Person
holding an equivalent position.

     “Authorized Signatory” means, with respect to any Person, such senior personnel of
such Person as may be duly authorized and designated in writing by such Person to execute
documents, agreements, and instruments on behalf of the Person.

     “Available Amount” of any Letter of Credit means, at any time, the maximum amount
available to be drawn under such Letter of Credit at such time (assuming compliance at such time
with all conditions to drawing).

5

 

     “Bankruptcy Code” means the United States Bankruptcy Code (11 U.S.C. Section 101 et
seq.), and any similar laws relating to the insolvency of debtors in any other country, as the same
may now or hereafter be amended, and including any successor statute.

     “Base Rate” means, at any date of determination, a fluctuating interest rate per annum
in effect from time to time, which rate per annum shall at all times be equal to: (a) with respect
to Revolving Loans in U.S. Dollars, the higher of (i) the rate of interest announced by the
Administrative Agent, in New York, New York, from time to time, as its base rate (the
“Reference Rate”) and (ii) one-half of one percent (0.50%) per annum above the Federal
Funds Rate, and (b) with respect to Revolving Loans in Offshore Currencies, the offered quotation
to first class banks in the Euro Zone interbank market for Euro overnight deposits of amounts in
immediately available funds comparable to the amount of the requested Loan as of 11:00 A.M.
(Brussels time) on such date, as determined by the Administrative Agent. Each change in the Base
Rate shall take effect automatically as of the opening of business on the effective date of the
change in the applicable rate described above.

     “Base Rate Loan” shall mean any Loan hereunder that bears interest based on the Base
Rate plus the Applicable Margin in effect from time to time with respect to the Loans accruing at
the Base Rate.

     “Blocked Person” has the meaning specified in Section 4.1(w).

     “Board of Directors” means (a) with respect to a corporation, the board of directors
of such corporation or a duly authorized committee of the board of directors, (b) with respect to a
partnership, the board of directors or similar body of the general partner (or, if more than one
general partner, the managing general partner) of such partnership, and (c) with respect to a
limited liability company, any managing or other authorized committee of such limited liability
company or any board of directors or similar body of any managing member.

     “Borrower” and “Borrowers” means each of the Initial Borrowers and, if the
conditions of Section 2.13 are satisfied, any other Designated Borrower.

     “Borrower’s Account” means the account of the Borrower requesting such a Borrowing, as
specified in such Borrower’s Notice of Borrowing.

     “Borrowing” means a Revolving Loan Borrowing or a Letter of Credit Advance, as the
context may require.

     “Borrowing Subsidiary” and “Borrowing Subsidiaries” means each of the
Borrowers other than AGCO.

     “Business Day” means a day of the year (a) on which banks are not required or
authorized to close in New York, New York or Atlanta, Georgia; (b) if the applicable Business Day
relates to any LIBO Rate Loan, on which any Lender carries on dealings in the London interbank and
foreign exchange markets; and (c) if the applicable Business Day relates to any Loan or Letter of
Credit in a currency other than U.S. Dollars, on which banks are not required or authorized to
close in the city of the jurisdiction of such currency where the Administrative Agent’s Account for
such currency is located.

6

 

     “Canadian Dealer Receivable Factoring Program” means a program of sales (without
recourse for loss resulting from an account debtor’s inability to pay) by AGCO Canada of interest
bearing Receivables subject to the Canadian Securitization to a Finance Company, as more fully set
forth in the Canadian Dealer Receivable Factoring Program Documents.

     “Canadian Dealer Receivable Factoring Program Documents” means (a) a Repurchased
Receivables Purchase Agreement among AGCO Canada, as the seller, and AGCO Finance Canada, Ltd., as
buyer, (b) a Servicing and Support Agreement, dated on or about April 1, 2005 among AGCO, as
initial servicer, AGCO Finance Canada, Ltd., as purchaser, and (c) all other agreements executed
in connection with the foregoing, as the same may be amended, supplemented, modified or replaced
from time to time with the consent of the Administrative Agent.

     “Canadian Dollars” and “Cdn. $” each means lawful money of Canada.

     “Canadian Securitization” means funding in connection with sales by the Canadian
Subsidiary of wholesale Receivables invoiced to third parties at addresses located in Canada under
a securitization trust vehicle, as more fully set forth in the Canadian Securitization Documents.

     “Canadian Securitization Documents” means (a) that certain Receivables Purchase
Agreement among Canadian Subsidiary, as the seller, AGCO, as the initial servicer, Nieuw Amsterdam
Receivables Corporation, as the purchaser, and Coöperatieve Centrale Raiffeisen-Boerenleenbank
B.A., “Rabobank International”, New York Branch, as the agent, dated April 11, 2001, as amended,
(b) that certain Liquidity Asset Purchase Agreement among Nieuw Amsterdam Receivables Corporation,
Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A., “Rabobank International”, New York Branch, as
the committed purchaser, and Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A., “Rabobank
International”, New York Branch, as liquidity agent, dated April 11, 2001, as amended, and (c) all
other agreements executed in connection with the foregoing, as the same may be amended,
supplemented, modified or replaced from time to time with the consent of the Administrative Agent.

     “Canadian Subsidiary” means AGCO Canada, Ltd., a Saskatchewan corporation.

     “Capitalized Leases” means all leases that have been or should be, in accordance with
Applicable Accounting Standards, recorded as capitalized leases on a balance sheet of the lessee,
excluding operating leases.

     “Cash Equivalents” means, for any Person, any of the following, to the extent owned by
such Person free and clear of all Liens, other than Permitted Liens and having a maturity of not
greater than one (1) year from the date of acquisition: (a) readily marketable direct obligations
of the government of the United States or any agency or instrumentality thereof or obligations
unconditionally guaranteed by the full faith and credit of the government of the United States, (b)
readily marketable direct obligations denominated in U.S. Dollars of any other sovereign government
or any agency or instrumentality thereof which are unconditionally guaranteed by the full faith and
credit of such government and which have a rating equivalent to at least “Prime-1” (or the then
equivalent grade) by Moody’s or “A-1” (or the then equivalent grade) by

7

 

S&P, (c) insured certificates of deposit of, time deposits, or bankers’ acceptances with any
commercial bank that issues (or the parent of which issues) commercial paper rated as described in
clause (d) below, is organized under the laws of the United States or any State thereof or is a
foreign bank or branch or agency thereof acceptable to the Administrative Agent and, in any case,
has combined capital and surplus of at least U.S. $1,000,000,000 (or the foreign currency
equivalent thereof) or (d) commercial paper issued by any corporation organized under the laws of
any State of the United States or any commercial bank organized under the laws of the United States
or any State thereof or any foreign bank, each of which shall have a consolidated net worth of at
least U.S. $250,000,000, rated at least “Prime-1” (or the then equivalent grade) by Moody’s or
“A-1” (or the then equivalent grade) by S&P.

     “CERCLA” means the Comprehensive Environmental Response, Compensation and Liability
Act of 1980.

     “CERCLIS” has the meaning specified in Section 4.1(n).

     “Change of Control” means at any time, the occurrence of any of the following: (a) any
Person or two or more Persons (including any “group” as that term is used in Section 13(d)(3) or
14(d)(2) of the Securities Exchange Act of 1934) acting in concert shall have acquired beneficial
ownership (within the meaning of Rule 13d-3 of the Securities and Exchange Commission under the
Securities Exchange Act of 1934), directly or indirectly, of voting Stock of AGCO (or other
securities convertible into such voting Stock) representing thirty-five percent (35%) or more of
the combined voting power of all voting Stock of AGCO; or (b) during any period of up to
twenty-four (24) consecutive months, commencing after the Agreement Date, individuals who at the
beginning of such twenty-four (24)-month period were directors of AGCO (together with any new
directors whose election to the board of directors or whose nomination for election by AGCO’s
stockholders was approved by a vote of at least two-thirds of the members of the board of directors
at the beginning of such period or whose election or nomination for election was previously so
approved) shall cease for any reason to constitute a majority of the board of directors of AGCO; or
(c) any “Change of Control”, as defined in any of the Subordinated Debt Documents shall occur; or
(d) AGCO shall fail to own, directly or indirectly, one hundred percent (100%) of the Stock of each
Subsidiary of AGCO that is a Material Subsidiary except as permitted by Section 7.7.

     “Commitment” means, (i) with respect to any Lender at any time, the amount set forth
on Schedule I to the Lender Addendum delivered by such Lender under the caption “Commitment” or, if
such Lender has entered into one or more Assignments and Acceptances, set forth for such Lender in
the Register maintained by the Administrative Agent pursuant to Section 10.7(d) as such
Lender’s “Commitment”, as such amount may be reduced at or prior to such time pursuant to
Section 2.4 and (ii) with respect to any Issuing Bank at any time, its Letter of Credit
Commitment.

     “Commodity Agreement” means any commodity exchange contract, commodity swap agreement,
futures contract, option contract, synthetic cap or other similar agreement or arrangement related
to commodities.

     “Common Stock” means the common stock, par value U.S. $.01 per share, of AGCO.

8

 

     “Computation Date” means the date on which the Equivalent Amount of any Offshore
Currency Loan is determined.

     “Consolidated” refers to the consolidation of accounts in accordance with Applicable
Accounting Standards, except that, in the case of AGCO, notwithstanding Applicable Accounting
Standards, “Consolidated” shall refer to the consolidation of accounts of AGCO and its
Subsidiaries, with any Finance Company being accounted for on an equity basis of accounting.

     “Consolidated EBITDA” means, for any period, (a) Consolidated Net Income (or net loss)
for such period, plus (b) Consolidated Net Interest Expense for such period and all of the
following amounts deducted in arriving at such Consolidated Net Income: (i) amounts in respect of
taxes imposed on or measured by income or excess profits (other than income taxes (either positive
or negative) attributable to extraordinary and non-recurring gains or losses on sales of assets, to
the extent such gains or losses are not included in the definition of Consolidated Net Income),
(ii) depreciation and amortization expense, (iii) extraordinary or non-recurring cash expenses (not
to exceed U.S. $25,000,000 in the aggregate in any four fiscal quarter period), (iv) losses under
any Securitization Facility incurred in connection with the initial transfer of Receivables
thereunder, and (v) all other non-cash items reducing Consolidated Net Income (other than items
that will require cash payments and for which an accrual or reserve is, or is required by
Applicable Accounting Standards to be, made), minus (c) all non-cash items or extraordinary
or non-recurring gains increasing Consolidated Net Income, all as determined in accordance with
Applicable Accounting Standards.

     “Consolidated Interest Expense” means, for any period, the sum of (a) all amounts that
would be deducted in arriving at Consolidated Net Income for such period in respect of interest
charges (including amortization of debt discount and expense and imputed interest on Capitalized
Leases) and (b) interest expense attributable to any Securitization Funding for such period.

     “Consolidated Interest Income” means, for any period, the sum of all amounts that
would be included, for purposes of determining Consolidated Net Income, as income of AGCO and its
Subsidiaries for such period in respect of interest payments by third parties to AGCO and its
Subsidiaries.

     “Consolidated Net Income” means, for any period, the net income (or deficit) of AGCO
and its Subsidiaries for such period (taken as a cumulative whole), after deducting all operating
expenses, provisions for all taxes and reserves (including reserves for deferred income taxes) and
all other proper deductions, after eliminating all intercompany transactions and after deducting
portions of income properly attributable to minority interests, if any, in the stock and surplus of
Subsidiaries, but including the income (or deficit) of any Person that becomes a Subsidiary
or is merged into AGCO or a Subsidiary during such period that accrued during such period prior to
the date on which it became a Subsidiary or was merged into AGCO or a Subsidiary, provided that
there shall be excluded for purposes of calculating Consolidated Net Income: (a) the income (or
deficit) of any Person (other than a Subsidiary) in which AGCO or any Subsidiary has an ownership
interest, except to the extent that any such income has been actually received by AGCO or such
Subsidiary in the form of cash dividends or similar distributions; (b) the undistributed earnings
of any Subsidiary to the extent that the declaration or payment of

9

 

dividends or similar distributions by such Subsidiary is not at the time permitted by the
terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or
governmental regulation applicable to such Subsidiary; (c) any aggregate net gain or aggregate net
loss during such period arising from the sale, exchange or other disposition of capital assets
(such term to include all fixed assets, whether tangible or intangible, all Inventory sold in
conjunction with the disposition of fixed assets, and all securities); (d) any write-up of any
asset, or any write-down of any asset other than Receivables or Inventory; (e) any net gain from
the collection of the proceeds of life insurance policies; (f) any gain or loss arising from the
acquisition of any securities, or the extinguishment, under Applicable Accounting Standards, of any
Indebtedness, of AGCO or any Subsidiary; and (g) any net income or gain or any net loss during such
period from any change in accounting, from any discontinued operations or the disposition thereof,
from any extraordinary events or from any prior period adjustments.

     “Consolidated Net Interest Expense” means, for any period, (a) Consolidated Interest
Expense for such period, minus (b) Consolidated Interest Income for such period.

     “Contribution Agreement” means that certain Contribution Agreement among the
Guarantors dated as of the date hereof, as amended or supplemented from time to time with the
consent of the Administrative Agent.

     “Conversion”, “Convert” and “Converted” each refer to a conversion of
Loans of one Type into Loans of the other Type pursuant to Section 2.7 or 2.8.

     “Currency Exchange Excess” has the meaning specified in Section 12.5.

     “Dealer Receivable Factoring Program” means, individually and collectively, the
Canadian Dealer Receivable Factoring Program and the US Dealer Receivable Factoring Program.

     “Dealer Receivable Factoring Program Documents” means, individually and collectively,
the US Dealer Receivable Factoring Program Documents and the Canadian Dealer Receivable Factoring
Program Documents.

     “Default” means any of the events specified in Section 8.1 regardless of
whether there shall have occurred any passage of time or giving of notice (or both) that would be
necessary in order to constitute such event an Event of Default.

     “Defaulting Lender” means, at any time, any Lender that, at such time, owes any amount
required to be paid by such Lender to the Administrative Agent, the Issuing Bank or any other
Lender hereunder or under any other Loan Document which has not been so paid as of such time
(including, without limitation, any amount required to be paid by such Lender to fund a Letter of
Credit Advance, to purchase its Pro Rata Share in a Swing Line Loan or otherwise fund its Pro Rata
Share of any Borrowing).

     “Default Rate” means a simple per annum interest rate equal to, (a) with respect to
outstanding principal, the sum of (i) the Base Rate or the LIBO Rate, as applicable, plus
(ii) the highest Applicable Margin, plus (iii) two percent (2%), and (b) with respect to
all other

10

 

Obligations, the sum of (i) the Base Rate, plus (ii) the highest Applicable Margin,
plus (iii) two percent (2%).

     “Designated Borrower” has the meaning specified in Section 2.13.

     “Designated Borrower Notice” has the meaning specified in Section 2.13.

     “Designated Borrower Request and Assumption Agreement” has the meaning specified in
Section 2.13.

     “Domestic Lending Office” means, with respect to any Lender, the office of such Lender
specified as its “Domestic Lending Office” on Schedule I to the Lender Addendum delivered by such
Lender or in the Assignment and Acceptance pursuant to which it became a Lender, as the case may
be, or such other office of such Lender as such Lender may from time to time specify to the
Borrowers and the Administrative Agent.

     “Domestic Subsidiary” means a Subsidiary of AGCO that is organized or formed under the
laws of the United States or any jurisdiction thereof.

     “Eligible Assignee” means (a) a commercial bank, savings bank or savings and loan
association having a combined capital and surplus of at least U.S. $250,000,000, (b) a finance
company, insurance company, or other financial institution or fund (whether a corporation,
partnership, trust or other entity) that is engaged in making, purchasing, or otherwise investing
in commercial loans in the ordinary course of its business and having (together with its
Affiliates) total assets in excess of U.S. $250,000,000, (c) a Lender, an Affiliate (other than
individuals) of a Lender or an Approved Fund, and (d) any other Person (other than a natural
person) that shall be approved by (x) the Administrative Agent, and (y) if no Default then exists,
AGCO; provided that notwithstanding the foregoing, “Eligible Assignee” shall not include any
Borrower or any Affiliate or Subsidiary of a Borrower.

     “Environmental Action” means any administrative, regulatory, or judicial action, suit,
demand, demand letter, claim, notice of non-compliance or violation, investigation, proceeding,
consent order or consent agreement relating in any way to any Environmental Law or any
Environmental Permit, including, without limitation (a) any claim by any governmental or regulatory
authority for enforcement, cleanup, removal, response, remedial or other actions or damages
pursuant to any Environmental Law, and (b) any claim by any third party seeking damages,
contribution, indemnification, cost recovery, compensation or injunctive relief resulting from
Hazardous Materials or arising from alleged injury or threat of injury to the environment or, to
public health and welfare in respect of Hazardous Materials.

     “Environmental Law” means, with respect to any property or Person, any federal, state,
provincial, local or foreign law, rule, regulation, order, writ, judgment, injunction, decree,
determination or award applicable to such property or Person relating to the environment, public
health and welfare in respect of Hazardous Materials, including, without limitation, to the extent
applicable to such property or Person, CERCLA, the Resource Conservation and Recovery Act, the
Hazardous Materials Transportation Act, the Clean Water Act, the Toxic Substances Control Act, the
Clean Air Act, the Safe Drinking Water Act, the Atomic Energy Act, the Federal

11

 

Insecticide, Fungicide and Rodenticide Act and the Occupational Safety and Health Act, as any
of the foregoing may be from time to time amended, supplemented or otherwise modified.

     “Environmental Permit” means, with respect to any property or Person, any permit,
approval, identification number, license or other authorization required under any Environmental
Law applicable to such property or Person.

     “Equivalent Amount” means (i) whenever this Agreement requires or permits a
determination on any date of the equivalent in U.S. Dollars of an amount expressed in an Offshore
Currency, the equivalent amount in U.S. Dollars of such amount expressed in an Offshore Currency as
determined by the Administrative Agent on such date on the basis of the Spot Rate for the purchase
of U.S. Dollars with such Offshore Currency on the relevant Computation Date provided for
hereunder; or (ii) whenever this Agreement requires or permits a determination on any date of the
equivalent amount in an Offshore Currency of such amount expressed in U.S. Dollars, the equivalent
amount in such Offshore Currency of such amount expressed in U.S. Dollars as determined by the
Administrative Agent on such date on the basis of the Spot Rate for the purchase of such Offshore
Currency with U.S. Dollars on the relevant Computation Date provided for hereunder.

     “ERISA” means the Employee Retirement Income Security Act of 1974, as amended,
supplemented or otherwise modified from time to time, and the regulations promulgated and rulings
issued thereunder.

     “ERISA Affiliate” of any Person means any other Person that for purposes of Title IV
of ERISA is a member of such Person’s controlled group, or under common control with such Person,
within the meaning of Section 414 of the Internal Revenue Code.

     “ERISA Event” with respect to any Person means:

          (a) either (i) the occurrence of a reportable event, within the meaning of Section 4043 of
ERISA, with respect to any Plan for which such Person or any of its ERISA Affiliates is the plan
administrator or the contributing sponsor, as defined in Section 4001(a)(13) of ERISA unless the
thirty (30)-day notice requirement with respect to such event has been waived by the PBGC, or
(ii) the requirements of subsection (a) of Section 4043(b) of ERISA (without regard to subsection
(2) of such Section) are met with respect to a contributing sponsor, as defined in Section
4001(a)(13) of ERISA, of a Plan, and an event described in paragraph (9), (10), (11), (12) or
(13) of Section 4043(c) of ERISA is reasonably expected to occur with respect to such Plan within
the following thirty (30) days;

          (b) the provision by the administrator of any Plan of such Person or any of its ERISA
Affiliates of a notice of intent to terminate such Plan, pursuant to Section 4041(a)(2) of ERISA
(including any such notice with respect to a plan amendment referred to in Section 4041(e) of
ERISA);

          (c) the cessation of operations at a facility of such Person or any of its ERISA Affiliates
in the circumstances described in Section 4062(e) of ERISA;

12

 

          (d) the withdrawal by such Person or any of its ERISA Affiliates from a Multiple Employer
Plan during a plan year for which it was a substantial employer, as defined in Section 4001(a)(2)
of ERISA;

          (e) the failure by such Person or any of its ERISA Affiliates to make a payment to a Plan
required under Section 302(f)(1) of ERISA;

          (f) the adoption of an amendment to a Plan of such Person or any of its ERISA Affiliates
requiring the provision of security to such Plan, pursuant to Section 307 of ERISA;

          (g) a Plan subject to Title IV or ERISA is in “at risk status” within the meaning of
Internal Revenue Code Section 430(i), or a Multiemployer Plan is in “endangered status” or
“critical status” within the meaning of Internal Revenue Code Section 432(b); or

          (h) the institution by the PBGC of proceedings to terminate a Plan of such Person or any of
its ERISA Affiliates, pursuant to Section 4042 of ERISA, or the occurrence of any event or
condition described in Section 4042 of ERISA that could constitute grounds for the termination
of, or the appointment of a trustee to administer, such Plan.

     “Eurocurrency Liabilities” has the meaning specified in Regulation D of the Board of
Governors of the Federal Reserve System, as in effect from time to time.

     “European Securitization” means a funding in connection with sales by certain Foreign
Subsidiaries of AGCO of wholesale Receivables invoiced to third parties at addresses located in
Europe to a special purpose entity, as more fully set forth in the European Securitization
Documents.

     “European Securitization Documents” means (a) that certain Receivables Transfer
Agreement among AGCO Receivables Limited, AGCO S.A., AGCO Limited and Rabobank London dated October
13, 2006, (b) that certain Receivables Transfer Agreement among AGCO Receivables Limited, AGCO
Iberia S.A., AGCO Limited and Rabobank London dated October 13, 2006, (c) that certain Receivables
Transfer Agreement among AGCO Receivables Limited, AGCO GMBH, AGCO Limited and Rabobank London
dated October 13, 2006, (d) that certain Receivables Funding Agreement among AGCO Receivables
Limited, Erasmus Capital Corporation and Rabobank London dated October 13, 2006, (e) that certain
Subordinated Loan Agreement among AGCO Receivables Limited, AGCO Services Limited, AGCO Limited and
Rabobank London dated October 13, 2006, (f) that certain Parent Undertaking Agreement among AGCO
Receivables Limited, AGCO and Rabobank London dated October 13, 2006, (g) the Repurchase and
Termination Agreement among Erasmus Capital Corporation, Rabobank London, AGCO, AGCO Services
Limited, AGCO Limited, AGCO Vertriebs GmbH, AGCO GmbH, AGCO S.A. and AGCO Iberia SA dated October
13, 2006 and (h) all other agreements executed in connection with the foregoing, as the same may be
amended, supplemented, modified, restated or replaced from time to time with the consent of the
Administrative Agent.

     “European Subordinated Notes” means those certain 67/8% Senior Subordinated Notes issued
by AGCO, due 2014, in an original principal amount of €200,000,000.

13

 

     “Euros” and the designation “#eu#” shall mean the currency introduced on January 1,
1999 at the start of the third stage of European economic and monetary union pursuant to the Treaty
(expressed in euros).

     “Event of Default” has the meaning specified in Section 8.1.

     “Executive Order No. 13224” means Executive Order No. 13224 on Terrorist Financing,
effective September 24, 2001, as the same has been, or shall hereafter be, renewed, extended,
amended or replaced.

     “Existing Credit Agreement” has the meaning specified in the recitals hereto.

     “Existing L/Cs” has the meaning specified in Section 2.10(a).

     “Facility” means the Revolving Loan Facility or the Letter of Credit Subfacility.

     “Federal Funds Rate” means, for any period, a fluctuating interest rate per annum
equal for each day during such period to the weighted average of the rates on overnight Federal
funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as
published for such day (or, if such day is not a Business Day, for the next preceding Business Day)
by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a
Business Day, the average of the quotations for such day for such transactions received by the
Administrative Agent from three Federal funds brokers of recognized standing selected by it.

     “Fee Letter” means that certain fee letter dated as of the date hereof executed by
AGCO and the other Borrowers and addressed to the Administrative Agent.

     “Finance Company” means any of AGCO Finance LLC, AGCO Finance Canada, Ltd., Agricredit
Ltd., Agricredit Ltd. Ireland, Agricredit S.N.C., Agricredit GmbH, Agricredit do Brasil, Ltda. and
any other Person (a) not a Subsidiary of AGCO, (b) in whom AGCO or its Subsidiaries holds an
Investment, and (c) which is engaged primarily in the business of providing retail financing to
purchasers of agricultural equipment.

     “Foreign Exchange Agreement” means a foreign currency exchange hedging product
providing foreign currency exchange protection.

     “Foreign Government Scheme or Arrangement” has the meaning specified in Section
4.1(l).

     “Foreign Plan” has the meaning specified in Section 4.1(l).

     “Foreign Subsidiary” means a Subsidiary of AGCO not organized under the laws of the
United States or any jurisdiction thereof.

     “Funded Debt” means without double-counting, with respect to AGCO on a Consolidated
basis, as of any date of determination, all obligations of the type described in clauses (a)
through (e) of the definition of “Indebtedness” set forth in Article 1 and any Guaranty of
any of the

14

 

foregoing for which a demand for payment has been received, and specifically including,
without limitation, the amount of Outstandings hereunder.

     “GAAP” means generally accepted accounting principles in the United States of America
as in effect from time to time as set forth in the opinions and pronouncements of the Accounting
Principles Board and the American Institute of Certified Public Accounts and the statements and
pronouncements of the Financial Accounting Standards Board which are applicable to the
circumstances as of the date of determination consistently applied.

     “Governmental Authority” means any government or political subdivision of the United
States or any other country or any agency, authority, board, bureau, central bank, commission,
department or instrumentality thereof or therein, including, without limitation, any court,
tribunal, grand jury or arbitrator, in each case whether foreign or domestic, or any entity
exercising executive, legislative, judicial, regulatory or administrative functions of or
pertaining to such government or political subdivision.

     “Guaranty” or “Guaranteed,” as applied to any Indebtedness, lease or other
obligations (each a “primary obligation”), means and includes (a) any guaranty, direct or
indirect, in any manner, of any part or all of such primary obligation, and (b) any agreement,
direct or indirect, contingent or otherwise, the practical effect of which is to assure in any way
the payment or performance (or payment of damages in the event of non-performance) of any part or
all of such primary obligation, including, without limiting the foregoing, any reimbursement
obligations as to amounts drawn down by beneficiaries of outstanding letters of credit, and any
obligation of such Person (the “primary obligor”), whether or not contingent, (i) to
purchase any such primary obligation or any property or asset constituting direct or indirect
security therefor, (ii) to advance or supply funds (1) for the purchase or payment of such primary
obligation or (2) to maintain working capital, equity capital or the net worth, cash flow, solvency
or other balance sheet or income statement condition of any other Person, (iii) to purchase
property, assets, securities or services primarily for the purpose of assuring the owner or holder
of any primary obligation of the ability of the primary obligor with respect to such primary
obligation to make payment thereof or (iv) otherwise to assure or hold harmless the owner or holder
of such primary obligation against loss in respect thereof; provided, however,
“Guaranty” shall not include non-binding comfort letters limited to corporate intent or policies.

     “Guarantors” means (a) each Domestic Subsidiary of AGCO on the Agreement Date (other
than AGCO Funding Corporation, a Delaware corporation, and, subject to Section 7.10 hereof,
AGCO Equipment Company, a Missouri corporation), (b) each of the other Persons listed under the
heading of “Guarantor” on Schedule G-1 hereof, and (c) each other Person that delivers a
Guaranty Agreement at any time hereafter in compliance with Section 5.14.

     “Guaranty Agreements” means the guaranty agreements, guaranty and indemnity deeds, and
other similar agreements delivered on the Agreement Date by each of the Persons listed under the
heading of “Guarantor” on Schedule G-1 hereto, guaranteeing or providing an indemnity for
the obligations described on Schedule G-1 hereto, and any other agreement delivered after
the Agreement Date (including by way of supplement or amendment to any guaranty or indemnity
agreement) by any Person providing an indemnity or guaranty of all or

15

 

any part of the Obligations, in each case as amended, supplemented or modified from time to
time in accordance with its terms.

     “Hazardous Materials” means any pollutants, contaminants, toxic or hazardous
substances, materials, wastes, constituents, compounds, chemicals, natural or manmade elements or
forces (including, without limitation, petroleum or any by-products or fractions thereof, any form
of natural gas, lead, asbestos and asbestos-containing materials building construction materials
and debris, polychlorinated biphenyls (“PCBs”) and PCB-containing equipment, radon and
other radioactive elements, ionizing radiation, electromagnetic field radiation and other
non-ionizing radiation, sonic forces and other natural forces, infectious, carcinogenic, mutagenic,
or etiologic agents, pesticides, defoliants, explosives, flammables, corrosives and urea
formaldehyde foam insulation) that are regulated by, or may now or in the future form the basis of
liability under, any Environmental Laws.

     “Hedge Agreement” means any Interest Hedge Agreement, Foreign Exchange Agreement or
Commodity Agreement.

     “IFRS” means the International Financial Reporting Standards, as promulgated by the
International Accounting Standards Board.

     “Indebtedness” means, with respect to any Person on any date of determination (without
duplication):

          (a) the principal of and premium (if any) in respect of (i) indebtedness of such Person for
money borrowed and (ii) indebtedness evidenced by notes, debentures, bonds or other similar
instruments for the payment of which such Person is responsible or liable;

          (b) all obligations under Capitalized Leases of such Person;

          (c) all obligations of such Person issued or assumed as the deferred purchase price of
property or services, all conditional sale obligations of such Person and all obligations of such
Person under any title retention agreement (excluding trade accounts payable and accrued
liabilities arising in the ordinary course of business but only if and so long as such accounts
are payable on trade terms customary in the industry), which purchase price or obligation is due
more than six (6) months after the date of placing such property in service or taking delivery
and title thereto of the completion of such services (provided that, in the case of obligations
of an acquired Person assumed in connection with an acquisition of such Person, such obligations
would constitute Indebtedness of such Person);

          (d) all obligations of such Person for the reimbursement of any obligor on any letter of
credit, banker’s acceptance or similar credit transaction (other than obligations with respect to
letters of credit securing obligations (other than obligations described in (a) through (c)
above) entered into in the ordinary course of business of such Person to the extent such letters
of credit are not drawn upon or, if and to the extent drawn upon, such drawing is reimbursed no
later than the tenth Business Day following receipt by such Person of a demand for reimbursement
following payment on the letter of credit);

          (e) the principal amount of any Securitization Funding;

16

 

          (f) the amount of all obligations of such Person with respect to the redemption, repayment
or other repurchase of the Stock of such Person;

          (g) all obligations of the type referred to in clauses (a) through (f) above of other
Persons and all dividends of other Persons for the payment of which, in either case, such Person
is responsible or liable, directly or indirectly, as obligor, guarantor or otherwise, including
by means of any Guaranty; and

          (h) all obligations of the type referred to in clauses (a) through (g) above of other
Persons secured by any Lien on any property or asset of such Person (whether or not such
obligation is assumed by such Person), the amount of such obligation being deemed to be the
lesser of the value of such property or assets or the amount of the obligation so secured.

The amount of Indebtedness of any Person at any date shall be the outstanding balance at such date
of all unconditional obligations as described above and the maximum liability, upon the occurrence
of the contingency giving rise to the obligation, of any contingent obligations as described above
at such date. For purposes of this Agreement, Indebtedness, with respect to any Person as of any
date, means the actual amount of Indebtedness then outstanding with respect to which such Person is
then liable without deduction for any discount therefrom as may be reflected on such Person’s
financial statements to reflect the value of any warrants or other equity securities that may be
issued together with such Indebtedness. Indebtedness shall not include, for purposes of this
Agreement, obligations in connection with the factoring of Receivables permitted hereunder,
provided that the Receivables subject to such factoring arrangement are not required under
Applicable Accounting Standards to be included on the Consolidated balance sheet of AGCO and its
Subsidiaries.

     “Indemnified Party” has the meaning specified in Section 10.4.

     “Initial Borrower” and “Initial Borrowers” have the respective meanings
specified in the introductory paragraph of this Agreement.

     “Insufficiency” means, with respect to any Plan, the amount, if any, of its unfunded
benefit liabilities, as defined in Section 4001(a)(18) of ERISA.

     “Interest Coverage Ratio” means, on any date of determination, the ratio of (a)
Consolidated EBITDA for the most recent fiscal quarter of AGCO for which financial statements have
been delivered to the Administrative Agent pursuant to Section 6.1(b) and for the three
complete fiscal quarters of AGCO immediately preceding such fiscal quarter to (b) Consolidated
Interest Expense for the most recent fiscal quarter of AGCO for which financial statements have
been delivered to the Administrative Agent pursuant to Section 6.1 and for the three
complete fiscal quarters of AGCO immediately preceding such fiscal quarter.

     “Interest Hedge Agreements” means the obligations of any 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

17

 

and shall include, without limitation, interest rate swaps, caps, floors, collars and similar
agreements.

     “Interest Period” means, for each LIBO Rate Loan comprising part of the same Borrowing
(or portion of the same Borrowing), the period commencing on the date of such LIBO Rate Loan or the
date of Conversion of any Base Rate Loan into such LIBO Rate Loan, and ending on the last day of
the period selected by any Borrower pursuant to the provisions below and, thereafter, each
subsequent period commencing on the last day of the immediately preceding Interest Period and
ending on the last day of the period selected by the Borrower requesting a Borrowing pursuant to
the provisions below. The duration of each such Interest Period shall be one (1), two (2), three
(3) or six (6) months, as such Borrower may, upon notice received by the Administrative Agent not
later than 11:00 A.M. (New York City time) on the third Business Day prior to the first day of such
Interest Period, select; provided that:

          (a) the duration of any Interest Period for any LIBO Rate Loan that commences before the
repayment date for such Loan and otherwise ends after such repayment date shall end on such
repayment date;

          (b) if any Borrower fails to select the duration of any Interest Period for a LIBO Rate
Loan, the duration of such Interest Period shall be one month;

          (c) whenever the last day of any Interest Period would otherwise occur on a day other than a
Business Day, the last day of such Interest Period shall be extended to occur on the next
succeeding Business Day; provided that, if such extension would cause the last day of such
Interest Period to occur in the next following calendar month, the last day of such Interest
Period shall occur on the next preceding Business Day;

          (d) whenever the first day of any Interest Period occurs on a day of an initial calendar
month for which there is no numerically corresponding day in the calendar month that succeeds
such initial calendar month by the number of months equal to the number of months in such
Interest Period, such Interest Period shall end on the last Business Day of such succeeding
calendar month;

          (e) such Borrower shall not select an Interest Period that ends after the Maturity Date.

     “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended from time
to time, and the regulations promulgated and rulings issued thereunder.

     “IntraLinks” means IntraLinks, Inc. or any other digital workspace provider selected
by the Administrative Agent from time to time after notice to AGCO.

     “Inventory” means, with respect to any Person, all “inventory” as that term is defined
in the Uniform Commercial Code, including, without limitation, all goods, merchandise and other
personal property owned and held for sale in the ordinary course of its business, and all raw
materials, work or goods in process, materials and supplies of every nature which contribute to the
finished products of such Person.

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     “Investment” by any Person in any other Person means any direct or indirect advance,
loan (other than advances to wholesale or retail customers in the ordinary course of business that
are recorded as Receivables on the balance sheet of such Person) or other extensions of credit
(including by way of Guaranty or similar arrangement) or capital contributions to (by means of any
transfer of cash or other property to others or any payment for property or services for the
account or use of others), or any purchase or acquisition of Stock, Indebtedness or other similar
instruments issued by such Person.

     “Issuing Bank” means, individually and collectively as the context may require, (a)
Rabobank, and (b) upon request of AGCO and consent of the Administrative Agent and the Swing Line
Bank, from time to time, the Swing Line Bank, together in each case with their respective
successors and assigns as issuer hereunder of Letters of Credit for the accounts of the Borrowers.

     “L/C Cash Collateral Account” has the meaning specified in Section 8.3.

     “L/C Related Documents” has the meaning specified in Section 2.10(d).

     “Lender Addendum” means, with respect to any Lender as of the Agreement Date, a Lender
Addendum, substantially in the form of Exhibit C hereto, executed and delivered by such
Lender on the Agreement Date as provided in Section 10.9.

     “Lenders” means each of the banks, financial institutions and other lenders executing
a Lender Addendum on the Agreement Date (the “Initial Lenders”) and any assignees of the Initial
Lenders who hereafter become parties hereto pursuant to and in accordance with Section 10.7
for so long as such Initial Lender or assignee shall be a party to this Agreement; and “Lender”
means any one of the foregoing Lenders.

     “Letter of Credit” has the meaning specified in Section 2.10(a).

     “Letter of Credit Advance” means an advance made by the Issuing Bank pursuant to
Section 2.10(c).

     “Letter of Credit Agreement” has the meaning specified in Section 2.10(b).

     “Letter of Credit Commitment” means the obligation of the Issuing Bank to issue
Letters of Credit hereunder; provided such obligations shall not exceed in the aggregate the amount
of the Letter of Credit Subfacility.

     “Letter of Credit Subfacility” means the aggregate Available Amounts of Letters of
Credit the Issuing Bank may issue pursuant to Section 2.10(a), which shall not exceed U.S.
$20,000,000.

     “LIBO Rate” means, for any Interest Period for all LIBO Rate Loans by any Lender
(whether or not a commercial bank) comprising part of the same Borrowing in any currency, an
interest rate per annum equal to the rate per annum:

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          (a) in the case of currencies other than Canadian Dollars and Euros, obtained by dividing

               (i) if such currency is U.S. Dollars or British pounds, either (x) the rate per annum for
deposits in such currency that appears on Bloomberg L.P. Page MMA M1 (Official USD Dollar Libor
Fixings) (or any other display screen that may replace any such page or is applicable to any other
Offshore Currency or any successor publication, in the judgment of the Administrative Agent), or
(y) if a rate cannot be determined pursuant to clause (x) above, a rate per annum equal to the
average (rounded upward to the nearest whole multiple of 1/16 of 1 % per annum, if such average is
not such a multiple) of the rate per annum as determined by the Administrative Agent at which
deposits in such currency are available to prime banks in the interbank market, at 11:00 A.M.
(London time) two (2) Business Days before the first day of such Interest Period and for a period
equal to such Interest Period, by

               (ii) a percentage equal to one hundred percent (100%), minus the LIBO Rate Reserve
Percentage for such Interest Period, and

          (b) in the case of Euros, either (i) the rate per annum for deposits in such currency that
appears on Reuters Page EURIBOR-01 (or any successor page), or (ii) if a rate cannot be
determined pursuant to clause (i) above, a rate per annum equal to the average (rounded upward to
the nearest whole multiple of 1/16 of 1 % per annum, if such average is not such a multiple) of
the rate per annum as determined by the Administrative Agent at which deposits in Euros are
available to prime banks in the Euro-zone interbank market, at 11:00 A.M. (Brussels time) two (2)
Business Days before the first day of such Interest Period and for a period equal to such
Interest Period, and

          (c) in the case of Canadian Dollars, the rate per annum determined by the Administrative
Agent as its rate for cost of funds for borrowings for a period equal to such Interest Period.

     “LIBO Rate Loan” means a Loan denominated in U.S. Dollars or in an Offshore Currency
that bears interest at the LIBO Rate plus the Applicable Margin in effect for Loans accruing
interest at the LIBO Rate from time to time.

     “LIBO Rate Reserve Percentage” means the percentage which is in effect from time to
time under regulations issued from time to time by the Board of Governors of the Federal Reserve
System (or any successor) for determining the maximum reserve requirement (including without
limitation any emergency, supplemental or other marginal reserve requirement) for a member bank of
the Federal Reserve System with respect to liabilities or assets consisting of or including
Eurocurrency Liabilities (or with respect to any other category of liabilities that includes
deposits by reference to which the interest rate on LIBO Rate Loans is determined), whether or not
any Lender has any Eurocurrency Liabilities subject to such reserve requirement at that time. The
LIBO Rate for any LIBO Rate Loan shall be adjusted as of the effective date of any change in the
LIBO Rate Reserve Percentage.

     “LIBOR Lending Office” means, with respect to any Lender and any currency, the office
of such Lender specified as its “LIBOR Lending Office” for such currency on Schedule I to the

20

 

Lender Addendum delivered by such Lender or in the Assignment and Acceptance pursuant to which
it became a Lender (or, if no such office is specified, its Domestic Lending Office), as the case
may be, or such other office of such Lender as such Lender may from time to time specify to AGCO
and the Administrative Agent.

     “Lien” means, with respect to any property, any mortgage, lien, pledge, assignment by
way of security, charge, hypothec, security interest, title retention agreement, levy, execution,
seizure, attachment, garnishment, or other encumbrance of any kind in respect of such property,
whether or not choate, vested, or perfected.

     “Loan” or “Loans” means, as applicable, a Revolving Loan, a Swing Line Loan or
a Letter of Credit Advance.

     “Loan Documents” means this Agreement, the Guaranty Agreements, all L/C Related
Documents, the Contribution Agreement, the Fee Letter, each Notice of Borrowing, each Notice of
Issuance, each Designated Borrower Request and Assumption Agreement, and all other documents,
instruments, certificates, and agreements executed or delivered by AGCO or its Subsidiaries in
connection with or pursuant to this Agreement.

     “Loan Parties” means the Borrowers and the Guarantors.

     “Margin Stock” has the meaning specified in Regulation U.

     “Material Adverse Effect” means, as of any date of determination, a material adverse
effect on (a) the business, condition (financial or otherwise), liabilities (actual or contingent),
operations, properties or prospects of AGCO and its Subsidiaries, taken as a whole, (b) the
material rights and remedies of the Administrative Agent or any Lender under any Loan Document, or
(c) the ability of any Loan Party to perform its Obligations under any Loan Document to which it is
or is to be a party.

     “Material Subsidiary” means, as of the Agreement Date, those direct and indirect
Subsidiaries of AGCO as indicated in Part I of Schedule 4.1(b) hereto, and thereafter, any
direct or indirect Subsidiary of AGCO that, as a result of any acquisition, Investment, merger,
reorganization, transfer of assets, or other change in circumstances after the Agreement Date,
meets any of the following conditions:

          (a) AGCO’s and its other Subsidiaries’ proportionate share of the total assets, in the
aggregate (after intercompany eliminations), of such Subsidiary (and its Subsidiaries) exceeds ten
percent (10%) of the total assets of AGCO and its Subsidiaries Consolidated as of the end of the
most recently completed fiscal quarter; or

          (b) AGCO’s and its other Subsidiaries’ equity in the income from continuing operations, in the
aggregate, before income taxes, extraordinary items and cumulative effect of a change in accounting
principles of such Subsidiary (and its Subsidiaries) exceeds ten percent (10%) of such income of
AGCO and its Subsidiaries Consolidated for the most recently completed fiscal year.

     “Maturity Date” means May 16, 2013.

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

     “Multiemployer Plan” of any Person means a multiemployer plan, as defined in Section
4001(a)(3) of ERISA, that is subject to ERISA and to which such Person or any of its ERISA
Affiliates is making or accruing an obligation to make contributions, or has within any of the
preceding five (5) plan years made or accrued an obligation to make contributions.

     “Multiple Employer Plan” of any Person means a single employer plan, as defined in
Section 4001(a)(15) of ERISA, that is subject to ERISA and (a) is maintained for employees of such
Person or any of its ERISA Affiliates and at least one Person other than such Person and its ERISA
Affiliates or (b) was so maintained and in respect of which such Person or any of its ERISA
Affiliates could have liability under Section 4064 or 4069 of ERISA in the event such plan has been
or were to be terminated.

     “Notice of Borrowing” has the meaning specified in Section 2.2(a).

     “Notice of Issuance” has the meaning specified in Section 2.10(b).

     “NPL” has the meaning specified in Section 4.1(n).

     “Obligations” means, (a) all payment and performance obligations of the Borrowers to
the Lenders, the Issuing Bank, and the Administrative Agent under this Agreement and the other Loan
Documents (including all Revolving Loans, Swing Line Loans and obligations under Letters of Credit
and including any interest, fees and expenses that, but for the provisions of the Bankruptcy Code,
would have accrued), as they may be amended from time to time, or as a result of making the Loans
or issuing the Letters of Credit, and (b) the obligation to pay an amount equal to the amount of
any and all damages which the Issuing Bank, the Lenders and the Administrative Agent, or any of
them, may suffer by reason of a breach by any Loan Party of any obligation, covenant, or
undertaking with respect to this Agreement or any other Loan Document.

     “OFAC” means the Office of Foreign Assets Control of the United States Department of
the Treasury.

     “Offshore Currency” means (a) British pounds, Canadian Dollars and Euros, and (b) any
Agreed Alternative Currency.

     “Offshore Currency Loan” means any Loan denominated in an Offshore Currency.

     “Original Currency” has the meaning specified in Section 11.3.

     “Other Currency” has the meaning specified in Section 11.3.

     “Other Taxes” has the meaning specified in Section 11.4(b).

     “Outstandings” means, on any date of determination:

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          (a) the aggregate principal amount of all Swing Line Loans made to AGCO, plus the aggregate
principal amount of all Revolving Loans in U.S. Dollars and of the Equivalent Amount in U.S.
Dollars of all Revolving Loans in Offshore Currencies, in either case outstanding on such date of
determination; plus

          (b) the aggregate principal amount of all Letter of Credit Advances in U.S. Dollars and of
the Equivalent Amount of all Letter of Credit Advances in Offshore Currencies, in either case in
respect of Letters of Credit outstanding on such date of determination and issued for the account
of any Borrower; plus

          (c) the aggregate of the Available Amount of all Letters of Credit denominated in U.S.
Dollars and the Equivalent Amount of the Available Amount of all Letters of Credit denominated in
Offshore Currencies, in either case issued for the account of any Borrower and outstanding on
such date of determination.

     “Participant” has the meaning specified in Section 10.7(f).

     “PBGC” means the Pension Benefit Guaranty Corporation.

     “PCBs” has the meaning specified in the definition of “Hazardous Materials”.

     “Permitted Liens” means:

          (a) (i) Liens on Real Property for real property taxes not yet delinquent and (ii) Liens for
taxes, assessments, governmental charges or levies not yet delinquent, or the non-payment of
which is being diligently contested in good faith by appropriate proceedings and for which
adequate reserves have been set aside on such Person’s books;

          (b) Liens of landlords and Liens of carriers, warehousemen, mechanics, laborers, suppliers,
workers and materialmen, in each case incurred in the ordinary course of business for sums not
yet due or being diligently contested in good faith, if such reserve or appropriate provision, if
any, as shall be required by Applicable Accounting Standards shall have been made therefor;

          (c) Liens incurred in the ordinary course of business in connection with workers’
compensation and unemployment insurance or other types of social security benefits;

          (d) Easements, rights-of-way, restrictions, and other similar encumbrances on the use of
Real Property which do not interfere with the ordinary conduct of the business of such Person, or
Liens incidental to the conduct of the business of such Person or to the ownership of its
properties which were not incurred in connection with Indebtedness or other extensions of credit
and which do not in the aggregate materially detract from the value of such properties or
materially impair their use in the operation of the business of such Person;

          (e) Liens existing on the property of a Person immediately prior to it being acquired by
AGCO or any of its Subsidiaries, or any Lien existing on any property acquired by AGCO or any of
its Subsidiaries at the time such property is so acquired; provided that no

23

 

such Lien shall have been created or assumed in contemplation of such Person becoming a
Subsidiary of AGCO or such acquisition of property; and provided, further, that
each such Lien shall at all times be confined solely to the item or items of property so acquired
and, if required by the terms of the instrument originally creating such Lien, other property
that is an improvement to or is acquired for specific use in connection with such acquired
property;

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

          (g) Liens and rights of setoff of banks existing solely with respect to cash, Cash
Equivalents or investment property on deposit with such bank in one or more accounts maintained
by any Loan Party or any Subsidiary, in each case granted in the ordinary course of business in
favor of the bank or banks with which such accounts are maintained;

          (h) Judgment liens that do not constitute an Event of Default hereunder;

          (i) Liens on wholesale Receivables (and the Related Assets) sold pursuant to a
Securitization Facility, and on Receivables sold under any factoring arrangement permitted
hereunder;

          (j) Precautionary financing statements filed by lessors, or retained interests in leased
equipment by lessors, with respect to equipment leases under which AGCO or a Subsidiary is
lessee;

          (k) Liens arising in connection with Tax Abatement Transactions permitted hereunder;

          (l) Liens encumbering customary initial deposits and margin deposits that are either within
the general parameters customary in the industry and incurred in the ordinary course of business,
in each case, securing Indebtedness under Hedge Agreements designed solely to protect AGCO or any
of its Subsidiaries from fluctuations in interest rates, currencies or the price of commodities;

          (m) Liens securing reimbursement obligations with respect to letters of credit that encumber
documents of title and property shipped under such letters of credit, to the extent the
incurrence of such reimbursement obligations are permitted hereunder;

          (n) 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;

          (o) Non-exclusive outbound licenses of patents, copyrights, trademarks and other
intellectual property rights granted by AGCO or any Subsidiary in the ordinary course of business
and not interfering in any respect with the ordinary conduct of or materially detracting from the
value of the business of AGCO or such Subsidiary;

          (p) Mandatory liens in favor of unsecured creditors attaching to proceeds from the sale of
property in a foreclosure or similar proceeding imposed by law of any

24

 

jurisdiction outside of the U.S. and which have not arisen to secure Indebtedness for
borrowed money and do not in the aggregate materially detract from the value of such property or
assets; and

          (q) Any other Liens that do not exceed U.S. $100,000,000 in the aggregate at any time
outstanding, including, without limitation, purchase money security interests and liens securing
other Indebtedness.

     “Person” means an individual, partnership, corporation (including a business trust),
limited liability company, joint stock company, trust, unincorporated association, joint venture or
other entity, or a government or any political subdivision or agency thereof.

     “Plan” means a Single Employer Plan or a Multiple Employer Plan that is subject to
ERISA.

     “Pro Rata Share” means, with respect to a Lender’s obligation to make Loans and
receive payments of principal, interest, fees, costs, and expenses with respect thereto, to
participate in Letters of Credit, to reimburse the Administrative Agent for Letter of Credit
Advances, and to receive payments of fees with respect thereto, and to participate in Swing Line
Loans, (i) prior to the Commitments being terminated or reduced to zero, the percentage obtained by
dividing (y) such Lender’s Commitment, by (z) the aggregate Commitments of all Lenders, and (ii)
from and after the time that the Commitments have been terminated or reduced to zero, the
percentage obtained by dividing (y) the aggregate outstanding principal amount of such Lender’s
Revolving Loans by (z) the aggregate outstanding principal amount of all Revolving Loans.

     “Rabobank” has the meaning specified in the introductory paragraph of this Agreement.

     “Rabobank London” means Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A., trading
as Rabobank International, London Branch.

     “Real Property” means, in respect of any Person, any estates or interests in real
property now owned or hereafter acquired by such Person.

     “Receivables” means any right to payment for goods sold or leased or for services
rendered whether or not it has been earned by performance.

     “Register” has the meaning specified in Section 10.7(d).

     “Regulation U” means Regulation U of the Board of Governors of the Federal Reserve
System, as in effect from time to time.

     “Related Assets” means, with respect to any Receivable conveyed pursuant to a
Securitization Facility, all records, writings, contracts, payment intangibles, encumbrances,
liens, security interests and similar adverse claims securing and supporting such Receivable.

     “Relevant Currency Time” means, for any Borrowing in any currency, the local time in the
city where the Administrative Agent’s Account for such currency is located.

25

 

     “Required Lenders” means, at any time, Lenders whose Pro Rata Share of the
Outstandings exceeds fifty percent (50%) of the total principal amount of the Outstandings (in the
Equivalent Amount in U.S. Dollars as of the most recent Computation Date); provided,
however, that if any Lender shall be a Defaulting Lender at such time, there shall be
excluded from the determination hereunder at such time, (x) the aggregate principal amount of Loans
made by such Lender and outstanding at such time, (y) such Lender’s Pro Rata Share of the Available
Amount of any Letter of Credit or Swing Line Loans, and (z) such Lender’s Commitment at such time.

     “Replaced Lender” has the meaning specified in Section 11.5.

     “Replacement Lender” has the meaning specified in Section 11.5.

     “Responsible Employee” means the Executive Chairman, President, any Authorized
Financial Officer, General Counsel or any Associate or Assistant General Counsel or Vice President
of AGCO or any equivalent position of any Borrowing Subsidiary; any other employee of any Borrower
responsible for monitoring compliance with this Agreement or any other Loan Document; and, with
respect to matters relating to ERISA, any individual who functions as the plan administrator under
the applicable pension plan.

     “Restricted Payment” means (a) any direct or indirect distribution, dividend, or other
payment to any Person on account of any shares of Stock of such Person or (b) any payment on
account of the purchase, redemption, or other acquisition or retirement of any shares of Stock or
other equity securities of, such Person.

     “Revolving Loan” or “Revolving Loans” have the meanings specified in
Section 2.1(a).

     “Revolving Loan Borrowing” means an advance made by the Lenders pursuant to
Section 2.1(a), a Swing Line Borrowing or a Letter of Credit Advance.

     “Revolving Loan Facility” means, at any time, the aggregate amount of the Commitments
of all Lenders at such time, which shall not exceed the Equivalent Amount of U.S. $300,000,000.

     “S&P” means Standard & Poor’s Ratings Group, a division of McGraw-Hill, Inc., and its
successors.

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

     “Securitization Documents” means the US Securitization Documents, the European
Securitization Documents, the Canadian Securitization Documents and the Dealer Receivable Factoring
Program Documents, each in form and substance satisfactory to the Administrative Agent.

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     “Securitization Facility” means, individually or collectively, the US Securitization,
the European Securitization, the Canadian Securitization and the Dealer Receivable Factoring
Program.

     “Securitization Funding” means any Indebtedness, trust participations or any other
interests that the Administrative Agent determines are equivalent thereto, incurred or issued by
any Person purchasing Receivables in a Securitization Facility (other than a Dealer Receivable
Factoring Program) and applicable to the purchase of such Receivables. Any reference to the
principal amount of Securitization Funding on any date refers to the “invested amount,” “capital,”
“investment,” or analogous term reflecting the amount paid for the purchase of Receivables in a
Securitization Facility or any trust participations or other equivalent interests issued in
connection therewith, in each case as of such date as determined by the Administrative Agent. Any
reference to the interest expense attributable to any Securitization Funding refers to any interest
expense in respect of any Indebtedness comprising the same or the equivalent of such interest
expense, as determined by the Administrative Agent, with respect to such purchase of Receivables or
any trust participations or other equivalent interests issued in connection therewith, in each case
for such period.

     “Single Employer Plan” of any Person means a single employer plan, as defined in
Section 4001(a)(15) of ERISA, that is subject to ERISA and (a) is maintained for employees of such
Person or any of its ERISA Affiliates and no Person other than such Person and its ERISA
Affiliates, or (b) was so maintained and in respect of which such Person or any of its ERISA
Affiliates could have liability under Section 4069 of ERISA in the event such plan has been or were
to be terminated.

     “Solvent” means, with respect to any Person on a particular date, that on such date
(a) the fair value of the tangible and intangible property of such Person is greater than the total
amount of liabilities, including, without limitation, 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 tangible and intangible 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; provided,
however, that with respect to any Person organized under the laws of the United Kingdom, “Solvent”
means that such Person is able to pay its debts as they fall due, is not deemed unable to pay its
debts as they fall due within the meaning of Section 123(1) of the Insolvency Act of 1986 and that
the value of its assets is greater than the value of its liabilities, taking into account
contingent and prospective liabilities; provided, further, that with respect to any
Person organized under the laws of Canada or its provinces “Solvent” means that (i) such Person is
able to meet its obligations as they generally become due; (ii) such Person is currently paying its
current obligations in the ordinary course of business as they generally come due; and (iii) the
aggregate value of that Person’s property is, at a fair valuation, sufficient, or if disposed of at
a fairly conducted sale under legal process, would be sufficient to enable payment of all its
obligations, due and accruing due.

27

 

     “Spot Rate” for a currency means the rate quoted by the Administrative Agent as the
spot rate for the purchase by the Administrative Agent of such currency with another currency
through its foreign exchange office at approximately 11:00 a.m. (New York, New York time) on the
date two (2) Business Days prior to the date as of which the foreign exchange computation is made.

     “Stock” means, as applied to any Person, any stock, share capital, partnership
interests or other equity of such Person, regardless of class or designation, and all warrants,
options, purchase rights, conversion or exchange rights, voting rights, calls or claims of any
character with respect thereto.

     “Subordinated Debt Documents” means, collectively, (a) that certain Indenture, dated
as of April 23, 2004, between AGCO and SunTrust Bank, as trustee, relating to AGCO’s European
Subordinated Notes; (b) that certain Indenture dated as of December 23, 2003 among AGCO and
SunTrust Bank, as trustee, relating to AGCO’s 13/4% Convertible Senior Subordinated Notes due 2033
and (c) that certain Indenture dated as of December 4, 2006 among AGCO and Union Bank of
California, N.A., as trustee, relating to AGCO’s 1.25% Convertible Senior Subordinated Notes due
2036.

     “Subsidiary” of any Person means a corporation, partnership, joint venture, limited
liability company or other entity of which a majority of the Stock having ordinary voting power for
the election of the Board of Directors or other governing body (other than Stock 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 AGCO.

     “Swing Line Loan” means an advance made by the Swing Line Bank pursuant to Section
2.1(b).

     “Swing Line Bank” means any Lender hereunder, as designated by AGCO in accordance with
this Agreement with the written consent of the Administrative Agent, acting hereunder as “Swing
Line Bank” to make Swing Line Loans to AGCO. The initial Swing Line Bank shall be SunTrust Bank.

     “Swing Line Borrowing” means a borrowing in U.S. Dollars consisting of a Swing Line
Loans made by the Swing Line Bank.

     “Swing Line Sublimit” has the meaning specified in Section 2.1(b).

     “Tax Abatement Transaction” means any revenue bond financing arrangement between any
Person and a development authority or other similar governmental authority or entity for the
purpose of providing property tax abatement to such Person whereby (i) the development authority
issues revenue bonds to finance the acquisition of property that at such time is owned by AGCO or a
Subsidiary, (ii) the property so transferred is leased back by AGCO or such Subsidiary, (iii) the
bonds issued to finance the acquisition are owned by AGCO or a Subsidiary, (iv) the rental payments
on the lease and the debt service payments on the bonds are substantially equal and (v) AGCO or
such Subsidiary has the option to prepay the bonds, terminate its lease

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and reacquire the property for nominal consideration at any time; provided that if at any time
any of the foregoing conditions shall cease to be satisfied, such transaction shall cease to be a
Tax Abatement Transaction.

     “Tax Credit” has the meaning specified in Section 11.4(h).

     “Taxes” has the meaning specified in Section 11.4(a).

     “Total Commitments” means the aggregate amount of Commitments of the Lenders.

     “Total Debt Ratio” means, at any date of determination, the ratio of (a) the average
of the principal amount of Funded Debt outstanding as of the last day of each fiscal quarter for
the four fiscal quarter period then ended minus (ii) the total amount of Cash Equivalents
on the Consolidated books of AGCO as of the last day of each fiscal quarter for the four fiscal
quarter period then ended, to (b) Consolidated EBITDA for the most recent fiscal quarter of AGCO
for which financial statements have been delivered to the Administrative Agent pursuant to
Section 6.1(b) and for the three complete fiscal quarters of AGCO immediately preceding
such fiscal quarter.

     “Treaty” means the Treaty establishing the European Community being the Treaty of Rome
of March 25, 1957, as amended by the Single European Act 1986, the Maastricht Treaty (which was
signed at Maastricht on February 7, 1992) and the Treaty of Amsterdam (which was signed in
Amsterdam on October 2, 1997).

     “Type” refers to the distinction among Loans bearing interest at the Base Rate and
Loans bearing interest at the LIBO Rate.

     “United States Dollars”, “U.S. Dollars” or “U.S. $” means lawful money
of the United States of America.

     “Unused Commitment” means, with respect to any Lender at any date of determination,
(a) such Lender’s Commitment at such time, minus (b) the Equivalent Amount in U.S. Dollars
as of such date of (i) the aggregate principal amount of all Base Rate Loans and LIBO Rate Loans
made by such Lender and outstanding on such date, plus (ii) such Lender’s Pro Rata Share of
(x) the aggregate Available Amount of all Letters of Credit issued for the account of any Borrower
and outstanding on such date, plus (y) the aggregate principal amount of all Letter of
Credit Advances outstanding on such date in respect of Letters of Credit issued for the account of
any Borrower, plus (z)  the aggregate principal amount of all Swing Line Loans outstanding
on such date.

     “Unused Fee” has the meaning specified in Section 2.6(b).

     “US Dealer Receivable Factoring Program” means a program of sales (without recourse
for loss resulting from an account debtor’s inability to pay) by AGCO Funding Corporation of
interest bearing Receivables subject to the US Securitization to a Finance Company, as more fully
set forth in the US Dealer Receivable Factoring Program Documents.

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     “US Dealer Receivable Factoring Program Documents” means (a) a Repurchased Receivables
Purchase Agreement among AGCO Funding Corporation, as originator, AGCO, as servicer, and AGCO
Finance LLC, as buyer, (b) a Servicing and Support Agreement, dated on or about April 1, 2005 among
AGCO, as servicer and originator, and AGCO Finance LLC, as purchaser, and (c) all other agreements
executed in connection with the foregoing, as the same may be amended, supplemented, modified or
replaced from time to time with the consent of the Administrative Agent.

     “US Securitization” means funding in connection with sales by AGCO of wholesale
Receivables invoiced to third parties located in, or who remit payment of invoices to a lockbox or
deposit account located in, the United States under a securitization program, as more fully set
forth in the US Securitization Documents.

     “US Securitization Documents” means (a) that certain Receivables Sale Agreement among
AGCO, as originator, and AGCO Funding Corporation, as buyer, dated January 27, 2000, as amended,
(b) that certain Receivables Purchase Agreement among AGCO, as initial servicer, AGCO Funding
Corporation, as seller, certain conduit purchasers and committed purchasers, and Coöperatieve
Centrale Raiffeisen-Boerenleenbank B.A., “Rabobank International”, New York Branch, as agent, dated
January 27, 2000, as amended, and (c) all other agreements executed in connection with the
foregoing, as the same may be amended, supplemented, modified or replaced from time to time with
the consent of the Administrative Agent.

     “USA Patriot Act” means the Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. No. 107-56, 115 Stat. 272
(2001), as the same has been, or shall hereafter be, renewed, extended, amended or replaced.

     “Wholly Owned” means, as applied to any Subsidiary, a Subsidiary all the outstanding
shares (other than directors’ qualifying shares, if required by law) of every class of stock of
which are at the time owned by AGCO and/or by one or more Wholly Owned Subsidiaries.

     “Withdrawal Liability” has the meaning specified in Part I of Subtitle E of Title IV
of ERISA.

     Section 1.2 Computation of Time Periods. In this Agreement in the computation of
periods of time from a specified date to a later specified date, the word “from” means “from and
including” and the words “to” and “until” each mean “to but excluding.”

     Section 1.3 Accounting Terms. (a) Except as otherwise expressly provided herein, all
accounting terms used herein shall be interpreted, and all financial statements and certificates
and reports as to financial matters required to be delivered to the Administrative Agent hereunder
shall (unless otherwise disclosed to the Lenders in writing at the time of delivery thereof in the
manner described in subsection (b) below) be prepared, in accordance with Applicable Accounting
Standards. All calculations made for the purposes of determining compliance with this Agreement
shall (except as otherwise expressly provided herein) be made by application of Applicable
Accounting Standards applied on a basis consistent with those used in the preparation of the annual
or quarterly financial statements furnished to the Lenders pursuant to Section 6.1

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most recently prior to or concurrently with such calculations unless (i) either (x) AGCO shall
have objected to determining such compliance on such basis at the time of delivery of such
financial statements or (y) the Required Lenders shall so object in writing within one hundred
eighty (180) days after delivery of such financial statements and (ii) AGCO and the Required
Lenders have not agreed upon amendments to the financial covenants contained herein to reflect any
change in such basis, in which event such calculations shall be made on a basis consistent with
those used in the preparation of the latest financial statements as to which such objection shall
not have been made.

          (b) AGCO shall deliver to the Administrative Agent, at the same time as the delivery of any
annual or quarterly financial statement under Section 6.1, (i) a description in
reasonable detail of any material variation between the application of accounting principles
employed in the preparation of such statement and the application of accounting principles
employed in the preparation of the next preceding annual or quarterly financial statements as to
which no objection has been made in accordance with the last sentence of subsection (a) above,
and (ii) reasonable estimates of the difference between such statements arising as a consequence
thereof.

     Section 1.4 Currency Equivalents. For purposes of determining in any currency any
amount outstanding in another currency, the Equivalent Amount of such currency on the date of any
such determination shall be used. If any reference to any Loans or other amount herein would
include amounts in U.S. Dollars and in one or more Offshore Currencies or to an amount in U.S.
Dollars that in fact is in one or more Offshore Currencies, such reference (whether or not it
expressly so provides) shall be deemed to refer, to the extent it includes an amount in any
Offshore Currency, the Equivalent Amount in U.S. Dollars of such amount at the time of
determination.

     Section 1.5 Construction. The words “hereof,” “herein,” “hereby,” “hereunder,” and
similar terms in this Agreement or any other Loan Document refer to this Agreement or such other
Loan Document, as the case may be, as a whole and not to any particular provision of this Agreement
or such other Loan Document, as the case may be. Section, subsection, clause, schedule, and
exhibit references herein are to this Agreement unless otherwise specified. Any reference in this
Agreement or in the other Loan Documents to any agreement, instrument, or document shall include
all alterations, amendments, changes, extensions, modifications, renewals, replacements,
substitutions, joinders, and supplements, thereto and thereof, as applicable (subject to any
restrictions on such alterations, amendments, changes, extensions, modifications, renewals,
replacements, substitutions, joinders, and supplements set forth herein). Any reference herein to
the repayment in full of the Obligations shall mean the repayment in full in cash of all
Obligations other than unaccrued contingent indemnification Obligations as to which no claim or
demand has been given to or made on any Loan Party. Any reference herein to any Person shall be
construed to include such Person’s successors and assigns. All of the schedules and exhibits
attached to this Agreement shall be deemed incorporated herein by reference.

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ARTICLE 2.

AMOUNTS AND TERMS OF THE LOANS

AND THE LETTERS OF CREDIT

     Section 2.1 Revolving Credit Facility. Subject to the terms and conditions of, and in
reliance upon the representations and warranties made in, this Agreement and the other Loan
Documents, the Lenders agree, severally in accordance with their respective Pro Rata Shares of the
Total Commitments and not jointly, to extend credit in an aggregate principal amount not to exceed
THREE HUNDRED MILLION DOLLARS (U.S. $300,000,000) to the Borrowers, as hereinafter provided.

     (a) Revolving Loans. Each Lender severally agrees, on the terms and conditions
hereinafter set forth, to make advances (each a “Revolving Loan”) to the Borrowers from
time to time on any Business Day during the period from the Agreement Date until the Maturity Date
in an amount for each such Revolving Loan not to exceed such Lender’s Unused Commitment on such
Business Day. In no event shall the Lenders be obligated to make any Revolving Loan if, on the
date of such Revolving Loan and after giving effect thereto, the Outstandings on such date would
exceed the Total Commitment then in effect. Each Borrowing shall be in U.S. Dollars in, or the
Equivalent Amount in the requested Offshore Currency of, an aggregate amount of U.S. $5,000,000 or
an integral multiple of U.S. $1,000,000 in excess thereof (except for the Borrowing made on the
Agreement Date) and shall consist of Revolving Loans made by such Lenders ratably according to
their Commitments. The Equivalent Amount in U.S. Dollars of each Revolving Loan shall be
recalculated hereunder on each date on which it shall be necessary to determine the Unused
Commitment, or any or all Loan or Loans outstanding on such date. Within the limits of each
Lender’s Unused Commitment in effect from time to time, the Borrowers may borrow under this
Section 2.1(a), prepay pursuant to Section 2.4 and reborrow under this Section
2.1(a).

     (b) Swing Line Loans. Subject to the terms and conditions hereinafter set forth
(including the conditions in Article 3), the Swing Line Bank, in its individual capacity,
may in its sole discretion make overnight loans in U.S. Dollars to AGCO from time to time on any
Business Day during the period from the Agreement Date until the Maturity Date in an aggregate
amount not to exceed at any time outstanding U.S. $15,000,000 (the “Swing Line Sublimit”);
provided that after giving effect to any such Borrowings, Outstandings shall not exceed the
aggregate amount of the Total Commitments then in effect. As it is understood that the purpose for
the Swing Line Loan is to fund AGCO’s operating account, the making of the Swing Line Loans and the
repayments to the Swing Line Bank may be made on a sweep basis requiring no formal notification
from AGCO. The Swing Line Bank may at its discretion, upon three (3) business days written notice
to AGCO, choose to require written notification of Swing Line Loans from AGCO, but is not required
to do so. No Swing Line Loan shall be used for the purpose of funding the payment of principal of
any other Swing Line Loan. Each Swing Line Loan shall accrue interest at such rate as may be
agreed to between the Swing Line Bank and AGCO, and such interest shall be due and payable in
arrears monthly or more frequently as may be required by the Swing Line Bank, and on the Maturity
Date. Within the limits of the Swing Line Sublimit, AGCO may borrow under this Section
2.1(b), prepay the Swing Line Loans and reborrow under this Section 2.1(b).

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     Section 2.2 Making the Revolving Loans.

          (a) Notices. Except as otherwise provided in Section 2.10, each Revolving
Loan Borrowing (other than a Swing Line Loan) shall be made on notice, given not later than:

                    (i) 11:00 A.M. (New York, New York time) on the third Business Day prior to the date of a
proposed Borrowing, in the case of a Borrowing consisting of LIBO Rate Loans;

                    (ii) 10:00 A.M. (New York, New York time) on the day of a proposed Borrowing, in the case of a
Borrowing consisting of Base Rate Loans in U.S. Dollars if the aggregate principal amount thereof
is less than U.S. $100,000,000;

                    (iii) 10:00 A.M. (New York, New York time) on the Business Day prior to the date of a proposed
Borrowing, in the case of a Borrowing consisting of Base Rate Loans in U.S. Dollars if the
aggregate principal amount thereof is U.S. $100,000,000 or more;

                    (iv) 10:00 A.M. (New York, New York time) on the third Business Day prior to the date of a
proposed Borrowing in the case of a Borrowing consisting of Base Rate Loans in an Offshore
Currency;

by AGCO, on behalf of the Borrowers, to the Administrative Agent and Administrative Agent shall
give to each Lender prompt notice thereof by telecopier; provided, however, in
connection with the Borrowing of the initial Revolving Loans hereunder, such Borrowing may be made
by giving such notice by (1) 11:00 A.M. (New York, New York time) on the Business Day of such
Borrowing if in U.S. Dollars, or (2) 10:00 A.M. (New York, New York time) on the third Business Day
prior to the date of such Borrowing if in an Offshore Currency. Each such notice of a Revolving
Loan Borrowing (a “Notice of Borrowing”) shall be by electronic mail, telecopier or
telephone, confirmed immediately in writing, in substantially the form of Exhibit B hereto,
specifying therein the:

                    (v) requested date of such Borrowing (which shall be a Business Day);

                    (vi) requested Type of Revolving Loans comprising such Borrowing which (1) may be a Base Rate
Loan or a LIBO Rate Loan if such Revolving Loan is denominated in U.S. Dollars or Canadian Dollars
and (2) shall be a LIBO Rate Loan if the requested currency for such Borrowing is other than
Canadian dollars or U.S. Dollars;

                    (vii) requested aggregate principal amount of such Borrowing;

                    (viii) requested currency in which such Borrowing is to be made; provided, that the Borrowers
shall be entitled to request that the Revolving Loans hereunder also be permitted to be made in any
other lawful currency constituting a eurocurrency (other than U.S. Dollars), in addition to the
currencies specified in clause (a) of the definition of “Offshore Currency” herein, that in the
opinion of all of the Lenders is at such time freely traded in the offshore interbank foreign
exchange markets and is freely transferable and freely convertible into

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U.S. Dollars (an “Agreed Alternative Currency”). AGCO shall deliver to the
Administrative Agent any request for designation of an Agreed Alternative Currency in accordance
with this section, to be received by the Administrative Agent not later than 12:00 noon (New York,
New York time) at least ten (10) Business Days prior to the date of any advance hereunder proposed
to be made in such Agreed Alternative Currency. Upon receipt of any such request the
Administrative Agent will promptly notify the Lenders thereof, and each Lender will use its best
efforts to respond to such request within two (2) Business Days of receipt thereof. The Lenders
may grant or accept such request in their sole discretion, and the Borrowers understand that there
is no commitment by or understanding with any Lender with respect to the approval of any Agreed
Alternative Currency. The Administrative Agent will promptly notify AGCO of the acceptance or
rejection of any such request;

                    (ix) in the case of a Borrowing consisting of LIBO Rate Loans, requested initial Interest
Period for each such Borrowing; and

                    (x) Borrower’s Account of such Borrower for such Borrowing (which shall be with an institution
located in the same country as the Administrative Agent’s Account for the requested currency of
such Borrowing).

          (b) Making of Loans by Lenders. In the case of a proposed Borrowing comprised of
LIBO Rate Loans, the Administrative Agent shall promptly (and in any case no later than 11:00
A.M. (New York, New York time) on the second Business Day before any LIBO Rate Loan or 1:00 P.M.
(New York, New York time) on the day of any Base Rate Loan) notify each Lender of the applicable
interest rate under Section 2.5(a). Each Lender shall, before 11:00 A.M. (Relevant
Currency Time) on the date of any Borrowing consisting of LIBO Rate Loans, or 3:00 P.M. (New
York, New York time) on the date of any Borrowing consisting of Base Rate Loans, make available
for the account of its Applicable Lending Office to the Administrative Agent at the
Administrative Agent’s Account for Borrowings in the applicable currency, in same-day funds, such
Lender’s Pro Rata Share of such Borrowing in accordance with the respective Commitment of such
Lender. After the Administrative Agent’s receipt of such funds and upon fulfillment of the
applicable conditions set forth in Article 3, the Administrative Agent will make such
funds available to the Borrowers by delivering such funds to the relevant Borrower’s Account in
the applicable currency; provided that, in the case of any Borrowing, the Administrative Agent
shall first make a portion of such funds, equal to the aggregate principal amount of any Letter
of Credit Advances to the Borrowers made by the Issuing Bank and outstanding on the date of such
Borrowing, available for repayment of such Letter of Credit Advances. Receipt of such funds in
the Borrower’s Account shall be deemed to have occurred when the Administrative Agent notifies
AGCO, by telephone or otherwise, of the Federal Reserve Bank reference number, CHIPS
identification number or similar number with respect to the delivery of such funds.

          (c) Appointment of AGCO as Agent, Etc. Each Notice of Borrowing shall be
irrevocable and binding on the Borrowers. Each Borrower (other than AGCO) (i) irrevocably and
unconditionally designates, as its agent for purposes of delivering any Notice of Borrowing on
behalf of the Borrowers, AGCO and any officer or employee of AGCO, and (ii) acknowledges that (A)
any such Notice at any time delivered by AGCO or any such officer or employee shall be binding on
each Borrower and (B) neither the Administrative

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Agent nor any Lender shall have any duty to determine whether the delivery of any such
Notice by AGCO or any such officer or director was duly authorized by each Borrower in any
specific instance. In the case of any Borrowing that the related Notice of Borrowing specifies
is to be comprised of LIBO Rate Loans, AGCO shall indemnify each Lender against any loss, cost or
expense incurred by such Lender as a result of any failure to fulfill on or before the date
specified in such Notice of Borrowing the applicable conditions set forth in Article 3,
including without limitation any loss (including loss of anticipated profits), cost or expense
incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such
Lender to fund the Revolving Loan to be made by such Lender as part of such Borrowing when such
Revolving Loan, as a result of such failure, is not made on such date.

          (d) Swing Line Loans.

                    (i) As it is understood that the purpose for the Swing Line Loan is to fund AGCO’s operating
account, the Swing Line Loans and repayments to the Swing Line Bank may be made on a sweep basis,
requiring no formal notification from AGCO. The Swing Line Bank may at its discretion, upon three
(3) business days’ written notice to AGCO, choose to require written notification of Swing Line
Loans from AGCO, but is not required to do so. At any time the Swing Line Bank makes a Swing Line
Loan, each Lender (other than the Swing Line Bank) shall be deemed, without further action by any
Person, to have purchased from the Swing Line Bank an unfunded participation in any such Swing Line
Loan in an amount equal to such Lender’s Pro Rata Share of such Swing Line Loan and shall be
obligated to fund such participation as a Revolving Loan at such time and in the manner provided
below. Each such Lender’s obligation to participate in, purchase and fund such participating
interests shall be absolute, irrevocable and unconditional and shall not be affected by any
circumstance, including, without limitation, (1) any set-off, counterclaim, recoupment, defense or
other right which such Lender or any other Person may have against the Swing Line Bank or any
other Person for any reason whatsoever; (2) the occurrence or continuance of a Default or an Event
of Default or the termination of the Commitments; (3) any adverse change in the condition
(financial or otherwise) of AGCO or any other Person; (4) any breach of this Agreement by any
Borrower or any other Lender; or (5) any other circumstance, happening or event whatsoever, whether
or not similar to any of the foregoing. Each Borrower hereby consents to each such sale and
assignment. Each Lender agrees to fund its Pro Rata Share of an outstanding Swing Line Loan on (x)
the Business Day on which demand therefor is made by the Swing Line Bank, provided that such demand
is made not later than 11:00 A.M. (New York City time) on such Business Day, or (y) the first
Business Day next succeeding such demand if such demand is made after such time. Upon any such
assignment by the Swing Line Bank to any other Lender of a participation in a Swing Line Loan, the
Swing Line Bank represents and warrants to such other Lender that it is the legal and beneficial
owner of such interest being assigned by it, but makes no other representation or warranty and
assumes no responsibility with respect to such Swing Line Loan, the Loan Documents or the
Borrowers. If and to the extent that any Lender shall not have so made the amount of such
participation in such Swing Line Loan available to the Administrative Agent, such Lender agrees to
pay to the Administrative Agent forthwith on demand such amount together with interest thereon, for
each day from the date of request by the Swing Line Bank until the date such amount is paid to the
Administrative Agent, at the Federal Funds Rate. If such Lender shall pay to the Administrative
Agent such amount for the account of the Swing Line Bank on any Business Day, such amount so paid
in respect of principal shall

35

 

constitute a U.S. Dollar Loans made by such Lender on such Business Day for purposes of this
Agreement, and the outstanding principal amount of the Swing Line Loan made by the Swing Line Bank
shall be reduced by such amount on such Business Day.

                    (ii) Unless the Swing Line Lender is the Administrative Agent, the Swing Line Lender shall
provide to the Administrative Agent, on Friday of each week and on each date the Administrative
Agent notifies the Swing Line Lender that any Borrower has made a borrowing request or the
Administrative Agent otherwise requests the same, an accounting for the outstanding Swing Line
Loans in form reasonably satisfactory to the Administrative Agent. At any time that the Unused
Commitment is less than U.S. $15,000,000, the Swing Line Sublimit shall be reduced temporarily to
such lesser amount; and

                    (iii) Unless a Default or an Event of Default then exists, the Swing Line Lender shall give
AGCO and the Administrative Agent at least seven (7) days’ prior written notice before exercising
its discretion herein not to make Swing Line Loans. AGCO must give ten (10) days’ prior written
notice to the Administrative Agent of any change in designation of the Swing Line Lender. The
replaced Swing Line Lender shall continue to be a “Swing Line Lender” for purposes of repayment of
any Swing Line Loans made prior to such replacement and outstanding after such replacement.

     Section 2.3 Reduction of the Commitments. AGCO may, upon at least three (3) Business
Days’ notice to the Administrative Agent, terminate in whole or reduce in part the unused portions
of the Unused Commitments; provided that each partial reduction: (i) shall be in an
aggregate amount of U.S. $10,000,000 or an integral multiple of U.S. $5,000,000 in excess thereof;
(ii) shall be made ratably among the Lenders in accordance with their Commitments; and (iii) shall
be permanent and irrevocable.

     Section 2.4 Prepayments and Deposits.

          (a) Optional Prepayments. The Borrowers may, upon at least three (3) (or two (2) in
the case of a Base Rate Loan) Business Days’ notice to the Administrative Agent, prepay pro rata
among the Lenders the outstanding amount of any Loan (other than any Swing Line Loan and Letter
of Credit Advances made by an Issuing Bank (resulting from a drawing under a Letter of Credit)
not participated to any other Lender, in which case, such prepayments shall not be made on a pro
rata basis or require prior notice) in whole or in part with accrued interest to the date of such
prepayment on the amount prepaid; provided, however, that in the event that any
Lender receives payment of the principal of any LIBO Rate Loan other than on the last day of the
Interest Period relating to such LIBO Rate Loan (whether due to prepayments made by any Borrower,
or due to acceleration of the Loans, or due to any other reason), the applicable Borrowers shall
pay to such Lender on demand any amounts owing pursuant to Section 11.2.

          (b) Mandatory Prepayments.

                    (i) On any date on which the Revolving Loan Facility shall be reduced pursuant to Section
2.3, if the Outstandings on such date shall exceed the amount of the Total Commitments after
giving effect to such reduction, the Borrowers shall prepay the

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Revolving Loans or the Letter of Credit Advances in the aggregate principal amount equal to
such excess, and shall pay on demand to the Lenders any amounts owing under Section 11.2 as
a result of such prepayment. Each such prepayment by a Borrower shall be applied ratably to such
Revolving Loans, or to such Letter of Credit Advances pursuant to draws on the same Letter of
Credit issued for the account of such Borrower, as AGCO shall designate at the time of such
prepayment.

                    (ii) If, on the last day of any Interest Period for any LIBO Rate Loan and on any date on
which a Base Rate Loan is outstanding, if the Outstandings on such date shall exceed one hundred
five percent (105%) of the amount of the Revolving Loan Facility on such date, such Borrowers shall
prepay the lesser of (x) the aggregate principal amount of such LIBO Rate Loan as to which such
last date shall have occurred or of such Base Rate Loan, and (y) such portion of such principal
amount as shall be the Equivalent Amount in the currency of such Loans of such excess.

                    (iii) AGCO shall, on each Business Day, pay to the Administrative Agent for deposit in the L/C
Cash Collateral Account an amount sufficient to cause the aggregate amount on deposit in such L/C
Cash Collateral Account to equal the amount by which (A) the Equivalent Amount in U.S. Dollars of
(1) the aggregate principal amount of all Letter of Credit Advances, plus (2) the aggregate
Available Amount of all Letters of Credit then outstanding, exceeds (B) the Letter of Credit
Subfacility on such Business Day.

                    (iv) Each Borrower shall, within one (1) Business Day of the making thereof by the Issuing
Bank, repay to the Administrative Agent for the account of the Issuing Bank the outstanding
principal amount of each Letter of Credit Advance made to such Borrower.

          (c) Interest on Principal Amounts Prepaid. All prepayments under this Section
2.4 shall be made together with accrued interest to the date of such prepayment on the
principal amount prepaid.

     Section 2.5 Interest.

          (a) Ordinary Interest. Each Borrower shall pay interest on the unpaid principal
amount of each Base Rate Loan and LIBO Rate Loan to it owing to each Lender from the date of such
Loan until such principal amount shall be paid in full, at the following rates per annum:

                    (i) Base Rate Loan. During such periods as such Loan is a Base Rate Loan, at a rate
per annum equal at all times to the Base Rate in effect from time to time plus the Applicable
Margin in effect for Base Rate Loans, payable (x) in arrears quarterly on the last day of each
calendar quarter during such periods, (y) on the date on which such Base Rate Loan shall be paid in
full, and (z) on the Maturity Date. Notwithstanding any provision in this Agreement to the
contrary, for the period of three (3) Business Days immediately following the Agreement Date, the
Loans shall be Base Rate Loans.

                    (ii) LIBO Rate Loans. During such periods as such Loan is a LIBO Rate Loan, a rate
per annum equal at all times during each Interest Period for such Loan to

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the sum of (x) the LIBO Rate for such Interest Period for such Loan, and (y) the Applicable
Margin in effect from time to time, payable in arrears on (A) the last day of such Interest Period,
(B) if such Interest Period has a duration of more than three (3) months, also on each day that
occurs during such Interest Period every three (3) months from the first day of such Interest
Period, (C) on the date on which such Loan shall be paid in full and (D) on the Maturity Date.

          (b) Default Interest. After the occurrence and during the continuation of an Event
of Default under Section 8.1(a), the Required Lenders shall have the option, in addition
to all of the rights and remedies described in this Agreement, to charge interest on the
outstanding principal balance of the Loans at the Default Rate from the date of such Event of
Default. Interest at the Default Rate shall be payable on the earlier of demand by Required
Lenders or the Maturity Date, and shall accrue until the earlier of (i) waiver in writing by
Required Lenders of the applicable Event of Default, (ii) agreement by Required Lenders to
rescind the charging of interest at the Default Rate, or (iii) payment in full of the
Obligations.

     Section 2.6 Fees.

          (a) Administrative Agent. The Borrowers agree to pay to the Administrative Agent
for its own account a fee separately agreed between the Borrowers and the Administrative Agent
and such other fees required by the Fee Letter on the dates set forth therein.

          (b) Unused Fee. The Borrowers shall pay to the Administrative Agent for the account
of the Lenders an unused commitment fee (the “Unused Fee”) in U.S. Dollars computed each
day, on each Lender’s Adjusted Unused Commitment (excluding any Swing Line Loans then
outstanding), from the Agreement Date until the Maturity Date at a rate per annum equal to the
Applicable Margin for the Unused Fee in effect from time to time, which fee shall be due and
payable quarterly in arrears on the last day of each calendar quarter (commencing with the
calendar quarter ending June 30, 2008) and, if then unpaid, on the Maturity Date;
provided, however, that any Unused Fee accrued with respect to any Commitment of
a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender
and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a
Defaulting Lender except to the extent that such Unused Fee shall otherwise have been due and
payable by the Borrowers prior to such time; and provided further that no Unused
Fee shall accrue on any Commitment of a Defaulting Lender so long as such Lender shall be a
Defaulting Lender.

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          (c) Letter of Credit Fee. From and after the Agreement Date, each Borrower shall
pay to the Administrative Agent, for the account of the Lenders, a fee computed each day at a
rate equal to the rate per annum equal to the Applicable Margin on such day for LIBO Rate Loans
on the aggregate Available Amount of all Letters of Credit outstanding and issued for such
Borrowers’ account, which fee shall be due and payable quarterly in arrears on the last day of
each calendar quarter (commencing with the calendar quarter ending June 30, 2008) and, if then
unpaid, on the Maturity Date. Each such Lender’s fee shall be calculated by allocating to such
Lender a portion of the total fee determined ratably according to Lender’s Pro Rate Share of the
Commitments.

          (d) Issuing Bank Fee. From and after the Agreement Date, the Borrowers agree to pay
to the Administrative Agent, for the account of the applicable Issuing Bank a fee equal to 0.125%
per annum (computed on the basis of a year of three hundred sixty (360) days), of the face amount
of each Letter of Credit which fee shall be due and payable quarterly in arrears on the last day
of each calendar quarter during which such Letter of Credit was outstanding (commencing with the
calendar quarter ending June 30, 2008) and, if then unpaid, on the Maturity Date. Additionally,
the Borrowers agree to pay to the Issuing Bank, for its own account, its customary fees for
issuing, amending, paying, negotiating or renewing any Letter of Credit, which fees shall be due
and payable on the date of each such issuance, amendment, payment, negotiation or renewal. The
foregoing fees shall be fully earned when due and nonrefundable when paid. In the event of any
inconsistency between the terms of this Agreement and the terms of any letter of credit
reimbursement agreements or indemnification agreements between any Borrower and the Issuing Bank
with respect to the Letters of Credit issued hereunder, the terms of this Agreement shall
control.

     Section 2.7 Conversion and Designation of Interest Periods.

          (a) On any Business Day, upon notice given to the Administrative Agent not later than 11:00
A.M. (New York, New York time) on the third Business Day prior to the date of the proposed
Conversion and subject to the provisions of Section 11.1 and so long as no Default or
Event of Default has occurred and is continuing, AGCO may Convert all or any portion of the
Revolving Loans (but not Letter of Credit Advances) in U.S. Dollars of one Type comprising the
same Borrowing into Revolving Loans of another Type; provided, if (i) less than all LIBO
Rate Loans are Converted, after such Conversion, not less than the relevant minimum amount
specified in Section 2.1 shall continue as LIBO Rate Loans; (ii) less than all Loans
comprising part of the same Revolving Loan Borrowing are Converted, the portion of the Loans
Converted must at least equal the minimum aggregate principal amount of a Borrowing permitted
under Section 2.1 and all Lenders’ Loans comprising the Borrowing to be Converted in part
shall be Converted ratably in accordance with their applicable Pro Rata Shares; and (iii) each
Conversion of less than all Loans comprising part of the same Revolving Loan Borrowing shall be
deemed to be an additional Borrowing for purposes of Section 2.2(d), and no such
Conversion of any Loans may result in there being outstanding more separate Revolving Loan
Borrowings than permitted under Section 2.2(d). Each such notice of Conversion shall,
within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Loans
to be Converted and (iii) if such Conversion is into LIBO Rate Loans, the duration of the initial
Interest Period for such Loans. Each notice of Conversion shall be irrevocable and binding on
AGCO.

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          (b) On the date on which the aggregate unpaid principal amount of LIBO Rate Loans
denominated in U.S. Dollars shall be reduced, by payment or prepayment or otherwise, to less than
U.S. $5,000,000, such Loans shall automatically Convert into Base Rate Loans.

          (c) If a Borrower shall fail to select the duration of any Interest Period for any LIBO Rate
Loans in accordance with the provisions contained in the definition of “Interest Period”, the
Administrative Agent will forthwith so notify such Borrower and the Lenders, whereupon each such
LIBO Rate Loan will automatically, on the last day of the then-existing Interest Period therefor,
convert into a LIBO Rate Loan with a one month Interest Period.

          (d) No Borrower shall request a LIBO Rate Loan if, after giving effect thereto, there would
be more than ten (10) LIBO Rate Loans outstanding under the Revolving Loan Facility.

     Section 2.8 Payments and Computations.

          (a) Each Borrower shall make each payment hereunder free and clear of any setoff or
counterclaim, with such payment (other than repayment of a Swing Line Loan) being paid not later
than 11:00 A.M. (Relevant Currency Time) on the day when due in the case of principal or interest
on and other amounts relating to any Borrowing in the currency in which such Borrowing was
denominated and in any other case in U.S. Dollars, to the Administrative Agent in same-day funds
by deposit of such funds to the Administrative Agent’s Account for payments in the applicable
currency. The Administrative Agent will promptly thereafter (and in any event, if received from
a Borrower by the time specified in the preceding two sentences, on the day of receipt) cause
like funds to be distributed (i) if such payment by a Borrower is in respect of principal,
interest, fees or any other Obligation then payable hereunder in a particular currency, to the
applicable Lenders for the account of their respective Applicable Lending Offices for payments in
such currency ratably in accordance with the amounts of such respective Obligations in such
currency then payable to such Lenders, and (ii) if such payment by a Borrower is in respect of
any Obligation then payable hereunder to one Lender, to such Lender for the account of its
Applicable Lending Office for payments in the applicable currency. Upon its acceptance of an
Assignment and Acceptance and recording of the information contained therein in the Register
pursuant to Section 10.7(d), from and after the effective date of such Assignment and
Acceptance, the Administrative Agent shall make all payments hereunder in respect of the interest
assigned hereby to the Lender assignee hereunder, and the parties to such Assignment and
Acceptance shall make all appropriate adjustments in such payments for periods prior to such
effective date directly between themselves.

          (b) If an Agent receives funds for application to the Obligations under the Loan Documents
under circumstances for which the Loan Documents do not specify the Loans to which, or the manner
in which, such funds are to be applied, the Administrative Agent may, but shall not be obligated
to, elect to distribute such funds to each Lender ratably in accordance with such Lender’s
proportionate share of the principal amount of all outstanding Loans and the Available Amount of
all Letters of Credit then outstanding, in

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repayment or prepayment of such of the outstanding Loans or other Obligations owed to such
Lender, and for application to such principal installments, as the Administrative Agent shall
direct.

          (c) All computations of interest, fees and Letter of Credit fees payable by any Borrower
shall be made by the Administrative Agent on the basis of a year of three hundred sixty (360)
days for the actual number of days (including the first day but excluding the last day) occurring
in the period for which such interest, fees or commissions are payable. Each determination by an
Agent of an interest rate, fee or commission hereunder shall be conclusive and binding for all
purposes, absent manifest error.

          (d) Whenever any payment hereunder shall be stated to be due on a day other than a Business
Day, such payment shall be made on the next succeeding Business Day, and such extension of time
shall in such case be included in the computation of payment of interest or commitment fee, as
the case may be; provided that, if such extension would cause payment of interest on or principal
of LIBO Rate Loans to be made in the next-following calendar month, such payment shall be made on
the next-preceding Business Day.

          (e) Unless the Administrative Agent shall have received notice from AGCO prior to the date
on which any payment is due to the Lenders hereunder that the Borrowers will not make such
payment in full, the Administrative Agent may assume that the Borrowers have made such payment in
full to the Administrative Agent on such date and the Administrative Agent may, in reliance upon
such assumption, cause to be distributed to each such Lender on such due date an amount equal to
the amount then due such Lender. If and to the extent such Borrower shall not have so made such
payment in full to the Administrative Agent and the Administrative Agent makes available to a
Lender on such date a corresponding amount, such Lender shall repay to the Administrative Agent
forthwith on demand such amount distributed to such Lender together with interest thereon, for
each day from the date such amount is distributed to such Lender until the date such Lender
repays such amount to the Administrative Agent, at the Federal Funds Rate.

     Section 2.9 Sharing of Payments, Etc. If any Lender shall obtain at any time any
payment (whether voluntary, involuntary, through the exercise of any right of set-off, or
otherwise) distributed other than in accordance with the provisions of this Agreement:

          (a) on account of Obligations due and payable to such Lender hereunder 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 due
and payable to all Lenders hereunder at such time) of payments on account of the Obligations due
and payable to all Lenders hereunder at such time obtained by all the Lenders at such time; or

          (b) on account of Obligations owing (but not due and payable) to such Lender hereunder at
such time in excess of its ratable share (according to the proportion of (i) the amount of such
Obligations owing to such Lender at such time to (ii) the aggregate amount of the Obligations
owing (but not due and payable) to all Lenders hereunder at such

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time) of payments on account of the Obligations owing (but not due and payable) to all
Lenders hereunder at such time obtained by all the Lenders at such time;

such Lender shall forthwith purchase from the other Lenders such participations in the Obligations
due and payable or owing to them, as the case may be, as shall be necessary to cause such
purchasing Lender to share the excess payment ratably with each of them; provided that if all or
any portion of such excess payment is thereafter recovered from such purchasing Lender, such
purchase from each other Lender shall be rescinded and such other Lender shall repay to the
purchasing Lender the purchase price to the extent of such other Lender’s ratable share (according
to the proportion of (x) the purchase price paid to such Lender to (y) the aggregate purchase price
paid to all Lenders) of such recovery together with an amount equal to such Lender’s ratable share
(according to the proportion of (A) the amount of such other Lender’s required repayment to (B) the
total amount so recovered from the purchasing Lender) of any interest or other amount paid or
payable by the purchasing Lender in respect of the total amount so recovered. The Borrowers agree
that any Lender so purchasing a participation from another Lender pursuant to this Section may, to
the fullest extent permitted by law, exercise all its rights of payment (including the right of
set-off) with respect to such participation as fully as if such Lender were the direct creditor of
such Borrower in the amount of such participation.

     Section 2.10 Letters of Credit.

          (a) The Letter of Credit Subfacility. The Issuing Bank agrees, on the terms and
conditions hereinafter set forth, to issue letters of credit (the “Letters of Credit”)
for the account of any Borrower from time to time on any Business Day during the period from the
Agreement Date until sixty (60) days before the Maturity Date (i) in an aggregate Available
Amount for all Letters of Credit issued for the account of all Borrowers not to exceed at any
time the amount of the Letter of Credit Subfacility, minus the aggregate principal amount
of all Letter of Credit Advances to any Borrower then outstanding and (ii) in an Available Amount
for each Letter of Credit issued for the account of a Borrower not to exceed the aggregate Unused
Commitments on such Business Day. No Letter of Credit shall have an expiration date (including
all rights of a Borrower or the beneficiary to require renewal) later than the earlier of five
(5) days before the Maturity Date and one (1) year after the date of issuance thereof;
provided, however, that any Letter of Credit that expires one (1) year after the
date of its issuance may provide for the automatic renewal of such Letter of Credit for
additional one (1)-year periods so long as such Letter of Credit, as renewed, shall have an
expiration date not later than five (5) days before the Maturity Date. Notwithstanding the
foregoing, a Letter of Credit may have an expiration date later than five (5) days prior to the
Maturity Date if the requesting Borrower provides, at the time of the issuance of such Letter of
Credit, cash collateral to the Administrative Agent for the benefit of those Lenders with a
Commitment in an amount equal to one hundred percent (100%) of the face amount of such Letter of
Credit. Each Letter of Credit shall require that all draws thereon must be presented to the
Issuing Bank by the expiration date therefor, regardless of whether presented prior to such date
to any correspondent bank or other institution. Within the limits of the Letter of Credit
Subfacility, and subject to the limits referred to above, the Borrowers may request the issuance
of Letters of Credit under this Section 2.10(a), repay any Letter of Credit Advances
resulting from drawings thereunder pursuant to Section 2.10(c) and request the issuance
of additional Letters of Credit under this Section 2.10(a). On the Agreement Date, each

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outstanding letter of credit issued under the Existing Credit Agreement and each letter of
credit described on Schedule 2.10 (collectively, the “Existing L/Cs”) shall be
deemed for all purposes, as of the Agreement Date, without further action by any Person, to have
been issued hereunder, and each such issuer of the Existing L/Cs shall be deemed to be an
“Issuing Bank” hereunder for all purposes but solely with respect to, and until the termination,
expiration or replacement of, such Existing L/Cs.

          (b) Request for Issuance.

                    (i) Each Letter of Credit shall be issued upon notice, given not later than 11:00 A.M. (New
York City time) on the first Business Day prior to the date of the proposed issuance of such Letter
of Credit, by a Borrower to the Issuing Bank, which shall give to the Administrative Agent and each
Lender prompt notice thereof by telex, telecopier or cable. Each such notice of issuance of a
Letter of Credit (a “Notice of Issuance”) shall be by electronic mail, telecopier or
telephone, confirmed immediately in writing, specifying therein (1) the requested date of such
issuance (which shall be a Business Day); (2) the requested Available Amount of such Letter of
Credit; (3) the requested expiration date of such Letter of Credit; (4) the requested currency in
which such Letter of Credit shall be denominated, which shall be U.S. Dollars or an Offshore
Currency; provided that no Borrower shall make a request for a Letter of Credit in an Offshore
Currency described in clause (b) of the definition thereof unless it shall have previously obtained
the consent of each Lender to the issuance of Letters of Credit in such currency; (5) the requested
name and address of the beneficiary of such Letter of Credit; and (6) the requested form of such
Letter of Credit, and shall be accompanied by such application and agreement for letter of credit
(a “Letter of Credit Agreement”) as the Issuing Bank may specify to such Borrower for use
in connection with such requested Letter of Credit. If (x) the requested form of such Letter of
Credit is acceptable to the Issuing Bank in its sole discretion, and (y) it has not received notice
of objection to such issuance from the Required Lenders, the Issuing Bank will, upon fulfillment of
the applicable conditions set forth in Article 3, make such Letter of Credit available to
the requesting Borrower at its office referred to in Section 10.2 or as otherwise agreed
with such Borrower in connection with such issuance. In the event and to the extent that the
provisions of any Letter of Credit Agreement shall conflict with this Agreement, the provisions of
this Agreement shall govern. A Letter of Credit shall be deemed to have been issued for the
account of each Borrower delivering the Notice of Issuance therefor.

                    (ii) The Issuing Bank shall furnish (1) to the Administrative Agent on the first Business Day
of each week a written report summarizing issuance and expiration dates of Letters of Credit issued
during the previous week, the respective Available Amounts with respect thereto, currencies in
which such Letters of Credit were denominated, for whose account such letters of credit were issued
and drawings during such week under all Letters of Credit; and (2) to the Administrative Agent on
the first Business Day of each calendar quarter a written report setting forth the average daily
aggregate Available Amount during the preceding calendar quarter of all Letters of Credit.

          (c) Drawing and Reimbursement.

                    (i) The payment by the Issuing Bank of a draft drawn under any Letter of Credit shall
constitute for all purposes of this Agreement the making by the Issuing

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Bank of a Letter of Credit Advance to the applicable Borrower, which shall (1) in the case of
payment on a draft drawn under any Letter of Credit denominated in U.S. Dollars or Canadian
Dollars, be a Base Rate Loan in the amount of such draft, and (2) in any other case, be a LIBO Rate
Loan that bears interest at the rate per annum equal to the rate per annum at which interest would
accrue on a LIBO Rate Loan with an Interest Period of one month beginning on the date of such draw,
and be immediately due and payable in full by the applicable Borrower within one (1) Business Day
of the payment thereof by the Issuing Bank.

                    (ii) Upon the issuance of each Letter of Credit, each Lender shall be deemed to have purchased
a participation therein equal to its Pro Rata Share of the Available Amount thereof and, upon
written demand by the Issuing Bank following a draw on such a Letter of Credit, with a copy of such
demand to the Administrative Agent, each Lender shall purchase from the Issuing Bank, directly and
not as a participation, and the Issuing Bank shall sell and assign to each such other Lender, such
other Lender’s Pro Rata Share of such Letter of Credit Advance resulting from such draw as of the
date of such purchase to the extent not previously repaid by the applicable Borrower, by making
available for the account of its Applicable Lending Office to the Administrative Agent for the
account of the Issuing Bank, by deposit to the Administrative Agent’s Account, in same-day funds in
the currency in which such Letter of Credit was denominated, an amount equal to the portion of the
outstanding principal amount of such Letter of Credit Advance to be purchased by such Lender.

                    (iii) Each Borrower agrees to each participation, sale and assignment pursuant to this
subsection (c).

                    (iv) Each Lender agrees to purchase its Pro Rata Share of an outstanding Letter of Credit
Advance on (1) the Business Day on which demand therefor is made by the Issuing Bank, provided
notice of such demand is given not later than 11:00 A.M. (New York, New York time) on such Business
Day, or (2) the first Business Day next succeeding such demand if notice of such demand is given
after such time.

Upon any such assignment by the Issuing Bank to any Lender of a portion of a Letter of Credit
Advance, the Issuing Bank shall be deemed to have represented and warranted to such Lender that
such Issuing Bank is the legal and beneficial owner of such interest being assigned by it, but
makes no other representation or warranty and assumes no responsibility with respect to such Letter
of Credit Advance, the Loan Documents or any Loan Party. If and to the extent that any Lender
shall not have so made the purchase price for its Pro Rata Share of a Letter of Credit Advance
available to the Administrative Agent, such Lender agrees to pay to the Administrative Agent
forthwith on demand such amount together with interest thereon, for each day from the date of
demand by the Issuing Bank until the date such amount is paid to the Administrative Agent, at the
Federal Funds Rate. If such Lender shall pay to the Administrative Agent such amount for the
account of the Issuing Bank on any Business Day, such amount so paid in respect of principal shall
constitute a Letter of Credit Advance made by such Lender on such Business Day for purposes of this
Agreement, and the outstanding principal amount of the Letter of Credit Advance made by the Issuing
Bank shall be reduced by such amount on such Business Day.

          (d) Obligations Absolute. The Obligations of the Borrowers under this Agreement,
any Letter of Credit Agreement and any other agreement or instrument relating to

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any Letter of Credit shall be unconditional and irrevocable, and shall be paid strictly in
accordance with the terms of this Agreement, such Letter of Credit Agreement and such other
agreement or instrument under all circumstances, including without limitation the following
circumstances:

                    (i) any lack of validity or enforceability of this Agreement, any Letter of Credit Agreement,
any Letter of Credit or any other agreement or instrument relating thereto (this Agreement and all
of the other foregoing being, collectively, the “L/C Related Documents”);

                    (ii) any change in the time, manner or place of payment of, or in any other term of, all or
any of the Obligations of any Borrower in respect of any L/C Related Document or any other
amendment or waiver of or any consent to departure from all or any of the L/C Related Documents;

                    (iii) the existence of any claim, set-off, defense or other right that any Borrower may have
at any time against any beneficiary or any transferee of a Letter of Credit (or any Persons for
whom any such beneficiary or any such transferee may be acting), the Issuing Bank or any other
Person, whether in connection with the transactions contemplated by the L/C Related Documents or
any unrelated transaction;

                    (iv) any statement or any other document presented under a 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;

                    (v) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or
certificate that does not strictly comply with the terms of such Letter of Credit; provided that
this clause (v) shall not be deemed to be a waiver of any claim that any Borrower might have
against such Issuing Bank as a result of any such payment that arises from the gross negligence or
willful misconduct of the Issuing Bank;

                    (vi) any release or amendment or waiver of or consent to departure from any Guaranty
Agreement; or

                    (vii) any other circumstance or happening whatsoever, whether or not similar to any of the
foregoing, including without limitation any other circumstance that might otherwise constitute a
defense available to, or a discharge of, any Borrower or a guarantor.

     Section 2.11 Defaulting Lenders.

          (a) Unless the Administrative Agent shall have received notice from a Lender prior to the date
of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s
ratable portion of such Borrowing, the Administrative Agent may assume that such Lender has made
such portion available to the Administrative Agent on the date of such Borrowing in accordance with
Section 2.2(b) and the Administrative Agent may, in reliance upon such assumption, make
available to the requesting Borrower on such date a corresponding amount. If and to the extent
that such Lender shall not have so made such ratable portion available to the Administrative Agent
and the Administrative Agent makes

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available to the requesting Borrower on such date a corresponding amount, such Lender and each
Borrower severally agree to repay or pay to the Administrative Agent forthwith on demand such
corresponding amount and to pay interest thereon, for each day from the date such amount is made
available to such Borrower until the date such amount is repaid or paid to the Administrative
Agent, at (i) in the case of the Borrowers, the interest rate applicable at such time under
Section 2.5 to Loans comprising such Borrowing and (ii) in the case of such Lender, the
Federal Funds Rate. If such Lender shall pay to the Administrative Agent such corresponding amount,
such amount so paid shall constitute such Lender’s Loan as part of such Borrowing for purposes of
this Agreement.

          (b) The failure of any Lender to make the Loan to be made by it as part of any Borrowing shall
not relieve any other Lender of its obligation, if any, hereunder to make its Revolving Loan on the
date of such Borrowing, but no Lender shall be responsible for the failure of any other Lender to
make the Revolving Loan to be made by such other Lender on the date of any Borrowing.

     Section 2.12 Borrower Liability. AGCO and each Domestic Subsidiary Borrower shall be
jointly and severally liable for all Loans and other liabilities hereunder or under any other Loan
Document by or of itself or any Borrowing Subsidiary. No Foreign Subsidiary Borrower shall have any
liability for any Borrowing or other liabilities hereunder or under any other Loan Documents by or
of AGCO or any other Borrowing Subsidiary (except as may otherwise be provided in such Foreign
Subsidiary Borrower’s Guaranty Agreement).

     Section 2.13 Designated Borrowers.

          (a) After the Agreement Date, AGCO may at any time, upon not less than sixty (60) days notice
from AGCO to the Administrative Agent (or such shorter period as may be agreed by the
Administrative Agent in its sole discretion), request that any one or more Material Subsidiaries of
AGCO (an “Applicant Borrower”) be designated as a Designated Borrower to receive Loans or
to have Letters of Credit issued hereunder by delivering to the Administrative Agent (which shall
deliver counterparts thereof to each Lender) a duly executed notice and agreement in substantially
the form of Exhibit D (a “Designated Borrower Request and Assumption Agreement”);
provided, however, AGCO shall not have any right to request that an Applicant
Borrower become a Designated Borrower hereunder if (i) such Applicant Borrower is not a
Wholly-Owned Subsidiary of AGCO, or is organized under the laws of a jurisdiction in which any
Lender is prohibited or restricted from making Loans, or (ii) any Default or Event of Default then
exists or would be caused hereby. The parties hereby acknowledge and agree that prior to any
Applicant Borrower becoming a Designated Borrower entitled to utilize the credit facilities
provided for herein the Administrative Agent and the Lenders shall have received a Guaranty
Agreement, supporting resolutions, incumbency certificates, certified (if available) governing
documents and good standing certificates, opinions of counsel and any other document or information
reasonably requested by the Administrative Agent, each in form and substance satisfactory to the
Administrative Agent and the Required Lenders (collectively, the “Supporting Documents”).
If the Administrative Agent agrees that an Applicant Borrower shall have satisfied all of the
requirements of this Section 2.13 and, therefore, be entitled to become a Designated
Borrower hereunder, then promptly following receipt of (x) all Supporting Documents, (y) a
certificate of an Authorized Financial Officer of AGCO certifying that no

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Default or Event of Default then exits or would result from the joinder of such Applicant
Borrower as a Borrower hereunder and (z) a reaffirmation by each Borrower and each Guarantor of its
Guaranty Agreement, in form and substance satisfactory to the Administrative Agent, the
Administrative Agent shall send a notice in substantially the form of Exhibit E (a
“Designated Borrower Notice”) to AGCO and the Lenders specifying the effective date upon
which the Applicant Borrower shall constitute a Designated Borrower for purposes thereof,
whereupon each of the Lenders agrees to permit such Designated Borrower to receive Loans or to have
Letters of Credit issued hereunder, on the terms and conditions set forth herein, and each of the
parties agrees that such Designated Borrower otherwise shall be a Borrower for all purposes of this
Agreement; provided, that no Notice of Borrowing or Notice of Issuance maybe submitted by
or on behalf of such Designated Borrower until three (3) Business Days after such effective date.

          (b) The Obligations of the Domestic Borrowers shall be joint and several in nature as more
specifically described in Section 2.12. The Obligations of each Foreign Subsidiary Borrower
shall be several in nature and not joint except as set forth in any Guaranty Agreement executed by
such Foreign Subsidiary Borrower.

          (c) Each Foreign Subsidiary Borrower and each Domestic Subsidiary Borrower of AGCO that is or
becomes a “Designated Borrower” pursuant to this Section 2.13 hereby irrevocably appoints
AGCO as its agent for all purposes relevant to this Agreement and each of the other Loan Documents,
including (i) the giving and receipt of notices, (ii) the execution and delivery of all documents,
instruments and certificates contemplated herein and all modifications hereto, and (iii)  in the
case of the Domestic Subsidiaries Borrowers only, the receipt of the proceeds of any Loans made by
the Lenders, to any such Borrower hereunder. Any acknowledgment, consent, direction, certification
or other action which might otherwise be valid or effective only if given or taken by all
Borrowers, or by each Borrower acting singly, shall be valid and effective if given or taken only
by AGCO, whether or not any such other Borrower joins therein. Any notice, demand, consent,
acknowledgement, direction, certification or other communication delivered to AGCO in accordance
with the terms of this Agreement shall be deemed to have been delivered to each Borrower.

          (d) Notwithstanding anything to the contrary herein, (i) as of the Closing Date, the only
Borrowers are AGCO, AGCO UK and AGCO BV, (ii) no other Persons may become a Borrower except in
accordance with this Section 2.13, (iii) each of the Initial Borrowers consents to the
addition of Designated Borrowers as “Borrowers” hereunder from time to time in accordance with this
Section 2.13, and (iv) only Wholly-Owned Material Subsidiaries of AGCO may become
Designated Borrowers.

ARTICLE 3.

CONDITIONS PRECEDENT

     Section 3.1 Conditions Precedent to Agreement Date. The effectiveness of this
Agreement and the obligation of each Lender to make the Loans comprising the initial Borrowing
hereunder and the obligation of any Issuing Bank to issue the initial Letters of Credit, is subject
to the satisfaction of the following conditions precedent:

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          (a) The Lenders shall be satisfied that, in connection with the initial Borrowing hereunder,
simultaneously with such initial Borrowing, all amounts owing under the Existing Credit Agreement
shall have been paid in full and all commitments to lend thereunder shall be terminated;

          (b) The Administrative Agent shall have received, on or before the Agreement Date, the
following, each dated such date (unless otherwise specified), in form and substance satisfactory
to the Administrative Agent (unless otherwise specified):

          (i) This Agreement, duly executed and delivered by the Borrowers, the Administrative Agent and
the delivery of a Lender Addendum by each Lender;

          (ii) The Fee Letter, duly executed and delivered by the Borrowers;

                    (iii) Certified copies of the resolutions of the Board of Directors of each Borrower and
Guarantor approving the execution and delivery of this Agreement, and of all documents evidencing
other necessary corporate action and governmental approvals, if any, with respect to this
Agreement;

                    (iv) A copy of the charter of each Borrower and each Guarantor that is a Foreign Subsidiary
and each amendment thereto, certified (as of a date reasonably near the Agreement Date), if
appropriate in the jurisdiction where such Borrower or Guarantor is organized, by an appropriate
governmental official as being a true and correct copy thereof;

                    (v) For AGCO and each Guarantor that is not a Foreign Subsidiary, a copy of a certificate of
the Secretary of State (or other applicable Governmental Authority) of the State of formation or
organization of such Loan Party, dated reasonably near the Agreement Date, listing the charter of
such Person and each amendment thereto on file in his/her office and certifying that (x) such
amendments are the only amendments to such Person’s charter on file in his/her office; (y) such
Person has paid all franchise taxes to the date of such certificate; and (z) such Person is duly
incorporated and in good standing or presently subsisting under the laws of such state;

                    (vi) A certificate of each Borrower and each Guarantor, signed on behalf of such Person by its
President or a Vice President and its Secretary or any Assistant Secretary, or by other appropriate
officers of it, dated the Agreement Date (the statements made in such certificate shall be true on
and as of the Agreement Date), certifying as to (x) the absence of any amendments to the charter of
such Person since the date of the certificate referred to in clause (iv) and (v) above, as
applicable; (y) a true and correct copy of the bylaws of such Borrower or Guarantor as in effect on
the Agreement Date; and (z) the due incorporation or formation and good standing of such Borrower
or Guarantor organized under the laws of the jurisdiction of its organization, and the absence of
any proceeding for the dissolution or liquidation of such Person;

                    (vii) A certificate of the Secretary or an Assistant Secretary or other appropriate officer of
each Borrower and each Guarantor certifying the names and true signatures of the officers of such
Borrower and Guarantor authorized to sign this Agreement or

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the other Loan Documents to which it is or is to be a party and the other documents to be
delivered hereunder and thereunder.

                    (viii) Each of the Guaranty Agreements duly executed by each Person specified on Schedule
G-1, each such Guaranty Agreement to be in form and substance satisfactory to the
Administrative Agent, and guaranteeing the obligations specified in such Schedule.

          (c) The Administrative Agent shall be satisfied that no default exists under any Subordinated
Debt Document;

          (d) There shall not have occurred any event, development or circumstance since December 31,
2007 (x) that has caused or could reasonably be expected to cause a material adverse condition or
material adverse change in or affecting (i) the condition (financial or otherwise), results of
operation, assets, liabilities (actual or contingent), management, business, value or prospects of
AGCO and its respective Subsidiaries, taken as a whole; (ii) the ability of the Borrowers to repay
or to refinance the credit to be extended under this Agreement, or (iii) the validity or
enforceability of any of the Loan Documents; or (y) that calls into question in any material
respect the projections delivered to the Administrative Agent prior to the Agreement Date or any
material assumption on which such projections were prepared;

          (e) There shall exist no action, suit, investigation, litigation or proceeding affecting AGCO
or any of its Subsidiaries pending or threatened before any court, governmental agency or
arbitrator that could have a Material Adverse Effect or impair the validity or enforceability of
any Loan Document.

          (f) The Administrative Agent shall have received audited Consolidated financial statements for
AGCO and its Subsidiaries as at December 31, 2007 and for the fiscal year then ended, and such
financial statements shall be in form and substance satisfactory to the Administrative Agent;

          (g) The Administrative Agent shall have received detailed projections for fiscal years 2008
through 2010, prepared by officers of AGCO, in form and substance satisfactory to the
Administrative Agent;

          (h) All governmental and third party approvals necessary or, in the discretion of the
Administrative Agent, advisable in connection with the transactions contemplated by this Agreement
and the continuing operations of AGCO and its Subsidiaries shall have been received and be in full
force and effect;

          (i) A favorable opinion of (A) Troutman Sanders LLP, counsel to the Loan Parties, (B) Dutch
counsel to the Loan Parties and (C) United Kingdom counsel to the Loan Parties;

          (j) A notice executed by AGCO addressed to each trustee under any Subordinated Debt Document
stating that this Agreement and the Loan Documents are the “Bank Credit Agreement” (or similar
defined term) under such Subordinated Debt Document;

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          (k) The Administrative Agent shall have received all required internal know-your-customer
documents, certificates and approvals as the Administrative Agent may reasonably request;

          (l) AGCO shall have paid all fees and expenses (including the fees and expenses of counsel) of
the Administrative Agent and Lenders that are due and payable on the Agreement Date and are in
compliance with all terms of the Fee Letter on or before the Agreement Date; and

          (m) The Administrative Agent shall have received such other approvals, opinions or documents
as the Administrative Agent may reasonably request.

     Section 3.2 Conditions Precedent to Each Borrowing and Issuance. The obligation of
each Lender to make a Loan (including the initial Loan but other than a Letter of Credit Advance),
and the right of any Borrower to request the issuance of Letters of Credit, shall be subject to the
further conditions precedent that on the date of such Borrowing or issuance, the following
statements shall be true and any Notice of Borrowing delivered to the Administrative Agent
hereunder shall certify that, as of the date of the Borrowing requested thereunder:

            (a) the representations and warranties contained in each Loan Document will be correct on and
as of the date of such Borrowing or issuance, before and after giving effect to such Borrowing or
issuance and to the application of the proceeds therefrom, as though made on and as of such date,
and request for the issuance of a Letter of Credit delivered to the Issuing Bank hereunder other
than as permitted by Section 4.2;

            (b) no event shall have occurred and be continuing, or would result from such Borrowing or
issuance or from the application of the proceeds therefrom, that constitutes or would constitute a
Default or Event of Default;

            (c) if the applicable Borrower is a Designated Borrower, then the conditions of Section
2.13 to designate such Borrower as a Designated Borrower shall have been met to the
satisfaction of the Administrative Agent; and

            (d) such Borrowing is permitted under Section 2.1(a).

     Section 3.3 Determinations Under Section 3.1. For purposes of determining compliance
with the conditions specified in Section 3.1, each Lender 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 the Lenders unless an officer of
the Administrative Agent responsible for the transactions contemplated by the Loan Documents shall
have received notice from such Lender prior to the initial Borrowing specifying its objection
thereto and such Lender shall not have made available to the Administrative Agent such Lender’s
ratable portion of such Borrowing.

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ARTICLE 4.

REPRESENTATIONS AND WARRANTIES

     Section 4.1 Representations and Warranties of the Borrowers. In order to induce the
Administrative Agent, the Lenders and the Issuing Bank to enter into this Agreement and to extend
credit to each Borrower, each Borrower hereby agrees, represents, and warrants as follows:

          (a) Organization; Power. (i) AGCO (x) is a corporation duly organized, validly
existing and in good standing (if applicable) under the laws of the jurisdiction of its
organization, (y) is duly qualified and in good standing (if applicable) as a foreign corporation
in each other jurisdiction in which it owns or leases property or in which the conduct of its
business requires it to so qualify or be licensed except where the failure to so qualify or be
licensed is not reasonably likely to have a Material Adverse Effect, and (z) has all requisite
power and authority and has all material licenses, authorizations, consents and approvals necessary
to own or lease and operate its properties, to conduct its business as now being conducted and as
proposed to be conducted and to enter into and carry out the terms of the Loan Documents to which
it is a party; (ii) each Material Subsidiary of AGCO, (x) is a corporation, partnership or other
legal entity duly organized or formed, validly existing and in good standing (if applicable) under
the laws of the jurisdiction of its organization, and (y) is duly qualified and in good standing
(if applicable) as a foreign corporation in each other jurisdiction in which it owns or leases
property or in which the conduct of its business requires it to so qualify or be licensed except
where the failure to so qualify or be licensed is not reasonably likely to have a Material Adverse
Effect, and (iii) each Subsidiary of AGCO has all requisite power and authority and has all
licenses, authorizations, consents and approvals necessary to own or lease and operate its
properties, to conduct its business as now being conducted and as proposed to be conducted and to
enter into and carry out the terms of the Loan Documents to which it is a party other than such
licenses, authorizations, consents and approvals, the failure of which would not reasonably be
expected to have a Material Adverse Effect.

          (b) Subsidiaries and Joint Ventures. Set forth on Part I of Schedule 4.1(b)
is a complete and accurate list of all Subsidiaries of AGCO, as of the Agreement Date showing (as
to each such Subsidiary) the jurisdiction of its incorporation or formation, the percentage of the
outstanding shares of each such class owned (directly or indirectly) by AGCO and whether it is a
Material Subsidiary. All of the outstanding Stock of all of the Subsidiaries of AGCO owned by AGCO
or any of its Subsidiaries has been validly issued, is fully paid and non-assessable and is, upon
release of all Liens under the Existing Credit Agreement, owned by AGCO or one or more of its
Subsidiaries free and clear of all Liens, except for Permitted Liens. Set forth on Part II of
Schedule 4.1(b) is a complete and accurate list of all joint ventures of AGCO and/or any of
its Subsidiaries and any third Person as of the Agreement Date showing (as to each such joint
venture) the other Person or Persons parties thereto and the percentage of the outstanding Stock or
other equity interests of such joint venture owned on the Agreement Date by AGCO or any of its
Subsidiaries.

          (c) Intentionally Omitted.

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          (d) Authorization; No Conflict. The execution, delivery and performance by each Loan
Party of this Agreement each other Loan Document and each L/C Related Document to which it is or is
to be a party and the other transactions contemplated hereby, are within such Loan Party’s
corporate or other similar powers, have been duly authorized by all necessary corporate or other
similar action, and do not (i) contravene such Loan Party’s charter or bylaws; (ii) violate any
Applicable Law (including, without limitation, to the extent applicable, the Securities Exchange
Act of 1934, the Racketeer Influenced and Corrupt Organizations Chapter of the Organized Crime
Control Act of 1970 and any similar statute); (iii) conflict with or result in the breach of, or
constitute a default under, any contract, loan agreement, indenture, mortgage, deed of trust, lease
or other instrument binding on or affecting any Loan Party, any of its Subsidiaries or any of their
properties; or (iv) result in or require the creation or imposition of any Lien upon or with
respect to any of the properties of any Loan Party or any of its Subsidiaries. No Loan Party or
any of its Subsidiaries is in violation of any such Applicable Law or in breach of any such
contract, loan agreement, indenture, mortgage, deed of trust, lease or other instrument, the
violation or breach of which could have a Material Adverse Effect.

          (e) No Authorizations Needed. Giving effect to the execution and delivery of the Loan
Documents and the making of the initial Loans hereunder, no authorization or approval or other
action by, and no notice to or filing with, any Governmental Authority or regulatory body or any
other third party is required for the due execution, delivery or performance by any Loan Party of
this Agreement, any other Loan Document or any L/C Related Document to which it is or is to be a
party, or for the consummation of the transactions hereunder.

          (f) Enforceability. This Agreement, each other Loan Document and each L/C Related
Document have been (or, when delivered hereunder will have been), duly executed and delivered by
each Loan Party thereto. This Agreement, each other Loan Document and each L/C Related Document
have been (or, when delivered hereunder will be), the legal, valid and binding obligation of each
Loan Party thereto, enforceable against such Loan Party in accordance with its terms, except as may
be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws
and principles of equity.

          (g) Financial Statements. The Consolidated balance sheets of AGCO and its
Subsidiaries and of AGCO and its Subsidiaries, respectively, as at December 31, 2007 and the
related Consolidated statements of income and cash flows of AGCO and its Subsidiaries and AGCO and
its Subsidiaries, respectively, for the fiscal year then ended, accompanied by an opinion of KPMG
LLC, independent public accountants, copies of which have been furnished to each Lender fairly
present the consolidated financial condition of AGCO and its Subsidiaries and AGCO and its
Subsidiaries, respectively, as at such date and the consolidated results of the operations of AGCO
and its Subsidiaries and AGCO and its Subsidiaries, respectively, for the period ended on such
date, all in accordance with Applicable Accounting Standards applied on a consistent basis, and
since December 31, 2007, nothing has occurred that has resulted in a Material Adverse Effect.

          (h) Projection; Other Information. The three (3) year projected Consolidated balance
sheets and income statements of AGCO and its Subsidiaries delivered to

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the Administrative Agent pursuant to Section 3.1(f) where prepared in good faith on
the basis of the assumptions stated therein, which assumptions were fair in the light of conditions
existing at the time of delivery of such projected financial statements, and represented, at the
time of delivery, AGCO’s reasonable estimate of its future financial performance. No information,
exhibit or report furnished by any Loan Party to the Administrative Agent or any Lender in
connection with the negotiation of the Loan Documents or any transaction contemplated herein or
therein or pursuant to the terms of the Loan Documents contained any untrue statement of a material
fact or omitted to state a material fact necessary to make the statements made therein not
misleading.

          (i) Litigation. There is no action, suit, investigation, litigation or proceeding
affecting AGCO or any of its Subsidiaries, including any Environmental Action, pending or
threatened before any court, governmental agency or arbitrator that purport to affect the legality,
validity or enforceability of this Agreement, any other Loan Document or any L/C Related Document
or the consummation of the transactions contemplated thereby or hereby, or that individually or in
the aggregate could reasonably be expected to have a Material Adverse Effect.

          (j) Use of Proceeds. None of the Borrowers will, directly or indirectly, use any of
the proceeds of any Borrowing for the purpose, whether immediate, incidental or ultimate, of buying
a “margin stock” or of maintaining, reducing or retiring any indebtedness originally incurred to
purchase a stock that is currently a “margin stock”, or for any other purpose that would constitute
this transaction a “purpose credit”, in each case within the meaning of the margin regulations of
the Board of Governors of the Federal Reserve System, if such use would violate such regulations or
cause any Lender to violate such regulations or impose any filing or reporting requirement on any
Lender under such regulations.

          (k) Senior Indebtedness. All Borrowings under this Agreement will be “Senior
Indebtedness,” (or such other similar term) under and as defined in the Subordinated Debt
Documents. This Agreement and all Loan Documents shall be the “Bank Credit Agreement,” or a
“Designated Credit Facility” (or such other similar term), and the Obligations hereunder shall
constitute “Senior Indebtedness” or such other similar term, under and as defined in, the
Subordinated Debt Documents.

          (l) ERISA Matters. No ERISA Event has occurred or is reasonably expected to occur
with respect to any Plan of any Loan Party or any of its ERISA Affiliates that has resulted in or
is reasonably likely to result in a Material Adverse Effect. Schedule B (Actuarial Information) to
the most recent annual report (Form 5500 Series) that any Loan Party or any of its ERISA Affiliates
is required to file for any Plan, copies of which have been filed with the Internal Revenue
Service, is complete and accurate and fairly presents the funding status of such Plan, and, except
as set forth on Schedule 4.1(l), since the date of such Schedule B there has been no
material adverse change in such funding status. Neither any Loan Party nor any of its ERISA
Affiliates has incurred or is reasonably expected to incur any Withdrawal Liability to any
Multiemployer Plan that would reasonably be expected to have a Material Adverse Effect. Neither
any Loan Party nor any of its ERISA Affiliates has been notified by the sponsor of a Multiemployer
Plan of any Loan Party or any of its ERISA Affiliates that such Multiemployer Plan is in
reorganization or has been terminated, within the meaning of Title IV of ERISA, and

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to the knowledge of AGCO no such Multiemployer Plan is reasonably expected to be in
reorganization or to be terminated, within the meaning of Title IV of ERISA, in either case which
reorganization or termination would reasonably be expected to have a Material Adverse Effect. With
respect to each scheme or arrangement mandated by a government other than the United States
providing for post-employment benefits (a “Foreign Government Scheme or Arrangement”) and
with respect to each employee benefit plan maintained or contributed to by any Loan Party or any
Subsidiary of any Loan Party that is not subject to United States law providing for post-employment
benefits (a “Foreign Plan”): (i) All material employer and employee contributions required
by law or by the terms of any Foreign Government Scheme or Arrangement or any Foreign Plan have
been made, or, if applicable, accrued, in accordance with normal accounting practices; (ii) The
fair market value of the assets of each funded Foreign Plan, the liability of each insurer for any
Foreign Plan funded through insurance or the book reserve established for any Foreign Plan,
together with any accrued contributions, is sufficient to procure or provide for the accrued
benefit obligations, as of the Agreement Date, with respect to all current and former participants
in such Foreign Plan according to the actuarial assumptions and valuations most recently used to
account for such obligations, in accordance with applicable generally accepted accounting
principles, and the liability of each Loan Party and each Subsidiary of a Loan Party with respect
to a Foreign Plan is reflected in accordance with normal accounting practices on the financial
statements of such Loan Party or such Subsidiary, as the case may be; and (iii) Each Foreign Plan
required to be registered has been registered and has been maintained in good standing with
applicable regulatory authorities unless, in each case, the failure to do so would not be
reasonably likely to have a Material Adverse Effect.

          (m) Casualties; Taking of Properties. Since December 31, 2007, neither the business
nor the properties of AGCO or its Subsidiaries, taken as a whole, has been materially and adversely
affected as a result of any fire, explosion, earthquake, windstorm, accident, strike or other labor
disturbance, embargo, requisition or taking of property or cancellation of contracts, permits or
concessions by any domestic or foreign government or any agency thereof, riot, activities of armed
forces, or acts of God or of any public enemy.

          (n) Environmental Matters. Except as set forth on Schedule 4.1(n) hereto (i)
each of AGCO and its Subsidiaries is in compliance with all applicable Environmental Laws, the
failure to comply with which could have a Material Adverse Effect; (ii) each of AGCO and its
Subsidiaries has obtained and currently maintains all Environmental Permits necessary for the
operation of its business, all such Environmental Permits are in good standing and AGCO and its
Subsidiaries are in compliance with all such Environmental Permits, except where the failure to so
obtain, maintain or comply could not have a Material Adverse Effect; (iii) neither AGCO nor its
Subsidiaries are subject to any Environmental Actions, and, to the knowledge of AGCO, no
Environmental Action has been threatened, in either case, which would be reasonably expected to
have a Material Adverse Effect; (iv) to the best knowledge of AGCO after diligent investigation,
there has been no release, spill, emission, leaking, pumping, injection, deposit, application,
disposal, discharge, dispersal, leaking or migration into the environment, including the movement
of any Hazardous Material in or through the environment, of any Hazardous Material at, in, on,
under, affecting or migrating to or from any Real Property, which could have a Material Adverse
Effect; (v) neither AGCO nor its Subsidiaries have caused or permitted any Hazardous Material to be
disposed of on or under any Real Property in violation of any Environmental Law, the violation of
which could have a Material Adverse Effect; (vi) neither

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AGCO nor its Subsidiaries have transported or arranged for the transportation of any Hazardous
Materials to any location that is listed or, to the knowledge of the Loan Parties, proposed for
listing on the National Priorities List under CERCLA (“NPL”) or listed on the Comprehensive
Environmental Response, Compensation and Liability Information System (“CERCLIS”)
maintained by the Environmental Protection Agency or any analogous state list, except to the extent
such transportation would not reasonably be expected to have a Material Adverse Effect; (vii) to
the best knowledge of AGCO and its Subsidiaries after diligent investigation, none of the Real
Properties presently require or previously required interim status or a hazardous waste permit for
the treatment, storage or disposal of hazardous waste pursuant to CERCLA, or any analogous
Environmental Law, except where the failure to obtain such status or permit could not have a
Material Adverse Effect, and no real properties have been placed or proposed to be placed on the
NPL or its state equivalents or placed on CERCLIS or its state equivalents; and (viii) no
asbestos-containing material, polychlorinated biphenyls, or underground storage tanks are present
on or under any Real Property in a manner or condition that could result in a Material Adverse
Effect.

          (o) Taxes. Each of AGCO and each of its Subsidiaries has filed, has caused to be
filed or has been included in all Federal and foreign income-tax returns, all federal, provincial
or state income-tax returns where a tax Lien could be imposed on any assets of AGCO or any of its
Subsidiaries and all other material income-tax and governmental remittance returns required to be
filed and has paid all taxes and other amounts shown thereon to be due, together with applicable
interest and penalties, except for any taxes being contested in good faith by appropriate
proceedings promptly initiated and diligently pursued and for which reserves or other appropriate
provisions required by Applicable Accounting Standards have been established and with respect to
which no Lien or right of demand has arisen or attached to its property and become enforceable
against its other creditors. There are no adjustments as of the Agreement Date to the federal
income tax liability of AGCO proposed by the Internal Revenue Service with respect to any such
year. Except as set forth on Schedule 4.1(o), the aggregate unpaid amount, as of the
Agreement Date, of adjustments to the state, provincial, local and foreign tax liability of AGCO
and its Subsidiaries proposed by all state, provincial, local and foreign taxing authorities (other
than amounts arising from adjustments to Federal income tax returns) does not exceed U.S.
$5,000,000. No issues have been raised by any taxing authority that, in the aggregate, would be
reasonably likely to have a Material Adverse Effect.

          (p) Solvency. Each Borrower is, and will be after giving effect to the transactions
contemplated hereby, individually and together with its Subsidiaries, Solvent.

          (q) Investment Company. Neither AGCO nor any of its Subsidiaries is an “investment
company,” or an “affiliated person” of, or “promoter” or “principal underwriter” for, an
“investment company,” as such terms are defined in the Investment Company Act of 1940, as amended.
Neither the making of any Loans, nor the issuance of any Letters of Credit, nor the application of
the proceeds or repayment thereof by any Borrower, nor the consummation of the other transactions
contemplated hereby, will violate any provision of such Act or any rule, regulation or order of the
Securities and Exchange Commission thereunder.

          (r) Intentionally Omitted.

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          (s) Intellectual Property. AGCO and its Subsidiaries own, or possess the right to use,
without conflict with the rights of any other Person which could reasonably be expected to have a
Material Adverse Effect, all trademarks, service marks, trade names, copyrights, patents, patent
rights, franchises, licenses and other intellectual property rights that are reasonably necessary
for the operation of their respective businesses.

          (t) Existing Indebtedness. Set forth on Schedule 4.1(t) hereto is a complete
and accurate list of all Indebtedness of AGCO and its Subsidiaries outstanding as of December 31,
2007, showing the approximate principal amount outstanding thereunder as of such date. Except as
otherwise disclosed in this Section 4.1, AGCO and its Subsidiaries have no other
liabilities that would result in a Material Adverse Effect.

          (u) Employee Relations. AGCO and its Subsidiaries have a stable work force in place
and the Borrowers know of no pending, threatened or contemplated strikes, work stoppage or other
labor disputes involving AGCO or any of its Subsidiaries’ employees except where such strike, work
stoppage or other labor dispute does not or would not reasonably be likely to have a Material
Adverse Effect.

          (v) Anti-Terrorism Laws. None of Borrowers nor any Affiliate of any Borrower knows,
or reasonably should know of, any violation of any Anti-Terrorism Law or knowingly engages in or
conspires to engage in any transaction that evades or avoids, or has the purpose of evading or
avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law.

          (w) Blocked Persons. To Borrowers’ knowledge, none of Borrowers nor any Affiliate of
any Borrower is any of the following (each a “Blocked Person”):

                    (i) a Person that is listed in the annex to, or is otherwise subject to the provisions of,
Executive Order No. 13224;

                    (ii) a Person owned or controlled by, or acting for or on behalf of, any Person that is listed
in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224;

                    (iii) a Person or entity with which any bank or other financial institution is prohibited from
dealing or otherwise engaging in any transaction by any Anti-Terrorism Law;

                    (iv) a Person or entity that commits, threatens or conspires to commit or supports “terrorism”
as defined in Executive Order No. 13224;

                    (v) a Person or entity that is named as a “specially designated national” or other blocked
person on the most current list maintained by OFAC and published or made available in the Federal
Register or published by OFAC at its official website or any replacement website or other
replacement official publication of such list; or

                    (vi) a Person or entity who is affiliated with a Person or entity listed above.

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          Neither any Borrower nor any Affiliate of any Borrower (i) knowingly conducts any business or
engages in making or receiving any contribution of funds, goods or services to or for the benefit
of any Blocked Person or (ii) knowingly deals in, or otherwise engages in any transaction relating
to, any property or interests in property blocked pursuant to Executive Order No. 13224 or other
applicable Anti-Terrorism Law.

          (x) Use of Loans. The Loans are intended solely for the purposes set forth in
Section 5.15 and the Loans are not intended specifically to enable any transaction that, if
conducted by a United States entity, would violate any rules or regulations promulgated by OFAC or
other United States economic or trade sanctions restrictions.

          Section 4.2 Survival of Representations and Warranties, etc. All representations and
warranties made under this Agreement shall be deemed to be made, and shall be true and correct, at
and as of the Agreement Date (unless otherwise specified) and the date of each Loan which will
increase the principal amount of the Obligations outstanding, or upon the issuance of a Letter of
Credit hereunder, except (a) to the extent previously fulfilled in accordance with the terms
hereof, (b) to the extent subsequently inapplicable, (c) to the extent such representation or
warranty is limited to a specified date, and (d) as a result of changes permitted by the terms of
this Agreement. All representations and warranties made under this Agreement shall survive, and
not be waived by, the execution hereof by the Lenders, the Administrative Agent and the Issuing
Bank, any investigation or inquiry by any Lender, Issuing Bank or the Administrative Agent, or the
making of any Loan or the issuance of any Letter of Credit under this Agreement.

ARTICLE 5.

AFFIRMATIVE COVENANTS

     AGCO covenants and agrees that, so long as any Loan shall remain unpaid, any Letter of Credit
shall be outstanding or any Lender shall have any Commitment hereunder:

          Section 5.1 Compliance with Laws, Etc. Except as provided in Section 5.4,
AGCO shall comply, and shall cause each of its Subsidiaries to comply with all Applicable Laws,
such compliance to include, without limitation, to the extent applicable, the Racketeer Influenced
and Corrupt Organizations Chapter of the Organized Crime Control Act of 1970, the Trading with the
Enemy Act and any similar statute except where the failure to so comply would not reasonably be
expected to have a Material Adverse Effect.

          Section 5.2 Preservation of Existence, Etc. Except as otherwise permitted by this
Agreement, AGCO shall preserve and maintain, and cause each of its Subsidiaries to (a) qualify and
remain qualified and authorized to do business in each jurisdiction in which the character of their
respective properties or the nature of their respective business requires such qualification or
authorization except where such failure to so qualify and/or remain qualified does not or would not
reasonably be likely to have a Material Adverse Effect, and (b) preserve and maintain, its
existence, rights (charter and statutory), privileges and franchises, except with respect to
Subsidiaries that are not Loan Parties to the extent that the failure to maintain such existence,
rights, privileges and franchises does not or would not reasonably be likely to have a Material
Adverse Effect; provided that neither AGCO nor any of its Subsidiaries shall be

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required to preserve any right or franchise if the Board of Directors of AGCO or such
Subsidiary shall determine that the preservation and maintenance thereof is no longer desirable in
the conduct of the business of AGCO or such Subsidiary, as the case may be, and that the loss
thereof is not disadvantageous in any material respect to AGCO, such Subsidiary or the Lenders.
AGCO shall at all times remain qualified as a foreign corporation entitled to do business in the
State of New York.

          Section 5.3 Payment of Taxes and Claims. AGCO shall, and shall cause each Subsidiary
to, pay and discharge all material federal, foreign, state and local taxes, assessments, and
governmental charges or levies imposed upon any of them or their respective incomes or profits or
upon any properties belonging to any of them prior to the date on which penalties attach thereto,
and all lawful claims for labor, materials and supplies which have become due and payable and which
by law have or may become a Lien upon any of their respective property; except that, no such tax,
assessment, charge, levy, or claim need be paid which is being contested in good faith by
appropriate proceedings and for which adequate reserves shall have been set aside on the
appropriate books, but only so long as such tax, assessment, charge, levy, or claim does not become
a Lien or charge other than a Permitted Lien and no foreclosure, distraint, sale, or similar
proceedings shall have been commenced and remain unstayed for a period thirty (30) days after such
commencement. Each Borrower shall timely file all information returns required by federal, state,
provincial or local tax authorities.

          Section 5.4 Compliance with Environmental Laws. AGCO shall comply, and cause each of
its Subsidiaries and all lessees and other Persons occupying its properties to comply, with all
Environmental Laws and Environmental Permits applicable to its operations and properties; obtain
and renew all material Environmental Permits necessary for its operations and properties; and
conduct, and cause each of its Subsidiaries to conduct, any investigation, study, sampling and
testing, and undertake any cleanup, removal, remedial or other action necessary to remove and clean
up all Hazardous Materials from any of its properties, in accordance with the requirements of all
Environmental Laws, except in each case where the failure to take such action would not result in a
Material Adverse Effect.

          Section 5.5 Maintenance of Insurance. AGCO shall maintain, and cause each of its
Subsidiaries to maintain, insurance with responsible and reputable insurance companies or
associations in such amounts and covering such risks as is usually carried by companies engaged in
similar businesses and owning similar properties in the same general areas in which AGCO or such
Subsidiary operates, including, without limitation, physical damage insurance on all real and
personal property, comprehensive general liability insurance, and business interruption insurance;
provided, however, that such insurance may be subject to (A) self-insurance by AGCO
and its Subsidiaries that so long as such self insurance is in accord with the approved practices
of corporations similarly situated and adequate insurance reserves are maintained in connection
with such self-insurance, and (B) deductibles and co-payment obligations no greater than those of
other corporations similarly situated. AGCO shall deliver to the Administrative Agent a
certificate of insurance that evidences the existence of each policy of insurance, payment of all
premiums therefor and compliance with all provisions of this Agreement and, upon request of the
Administrative Agent, AGCO shall deliver to the Administrative Agent a copy of each such policy.
Each liability insurance policy shall contain an endorsement listing the Administrative Agent as an
additional insured thereunder.

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          Section 5.6 Visitation Rights. AGCO shall permit, and shall cause its Subsidiaries to
permit, representatives of the Administrative Agent, each Issuing Bank and each Lender to (a) visit
and inspect the properties of AGCO and its Subsidiaries during normal business hours, (b) inspect
and make extracts from and copies of AGCO’s and its Subsidiaries’ books and records and (c) discuss
with its respective principal officers, directors and accountants its businesses, assets,
liabilities, financial positions, results of operations, and business prospects; provided,
however, the Lenders will use reasonable efforts to coordinate with AGCO and the
Administrative Agent such visit and inspections to limit any inconvenience to AGCO and its
Subsidiaries and, prior to the occurrence of any Default hereunder, the Lenders shall give AGCO
reasonable prior notice of any such visit or inspection.

          Section 5.7 Accounting Methods. AGCO shall maintain, and cause each of its
Subsidiaries to maintain, a system of accounting established and administered in accordance with
Applicable Accounting Standards, and will keep adequate records and books of account in which
complete entries will be made in accordance with such accounting principles consistently applied
and reflecting all transactions required to be reflected by such accounting principles.

          Section 5.8 Maintenance of Properties, Etc. AGCO shall preserve, and shall cause each
of its Subsidiaries to maintain and preserve in the ordinary course of business in good repair,
working order, and condition, normal wear and tear, removal from service for routine maintenance
and repair and disposal of obsolete equipment excepted, all material properties used or useful in
their respective businesses (whether owned or held under lease), and from time to time make or
cause to be made all needed and appropriate repairs, renewals, replacements, additions, and
improvements thereto.

          Section 5.9 Intentionally Omitted.

          Section 5.10 ERISA. AGCO shall at all times make, or cause to be made, timely payment
of contributions required to meet the minimum funding standards set forth in ERISA with respect to
its and its ERISA Affiliates’ Plans; timely file any annual report required to be filed pursuant to
ERISA in connection with each such Plan of AGCO and its ERISA Affiliates; notify the Administrative
Agent as soon as practicable of the occurrence of any ERISA Event and of any additional act or
condition arising in connection with any such Plan which AGCO believes might constitute grounds for
the termination thereof by the PBGC or for the appointment by the appropriate United States
District Court of a trustee to administer such Plan; and furnish to the Administrative Agent,
promptly upon the Administrative Agent’s request therefor, a copy of such annual report and such
additional information concerning any such Plan as may be reasonably requested by the
Administrative Agent.

          Section 5.11 Conduct of Business. AGCO and each Subsidiary of AGCO shall continue to
engage in business of the same general type as now conducted by it, respectively, on the Agreement
Date.

          Section 5.12 Further Assurances. Upon the reasonable request of the Administrative
Agent, AGCO will promptly cure, or cause to be cured, defects in the execution and delivery of the
Loan Documents (including this Agreement), resulting from any act or failure to act by any Loan
Party or any employee or officer thereof. AGCO at its expense will promptly

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execute and deliver to the Administrative Agent and the Lenders, or cause to be executed and
delivered to the Administrative Agent and the Lenders, all such other and further documents,
agreements, and instruments in compliance with or accomplishment of the covenants and agreements of
AGCO and its Subsidiaries in the Loan Documents, including this Agreement, or to correct any
omissions in the Loan Documents, or more fully to state the obligations set out herein or in any of
the Loan Documents, or to obtain any consents, all as may be necessary or appropriate in connection
therewith as may be reasonably requested by the Administrative Agent.

          Section 5.13 Broker’s Claims. Each Borrower hereby indemnifies and agrees to hold the
Administrative Agent, the Issuing Bank and each of the Lenders harmless from and against any and
all losses, liabilities, damages, costs and expenses which may be suffered or incurred by the
Administrative Agent, the Issuing Bank and each of the Lenders in respect of any claim, suit,
action or cause of action now or hereafter asserted by a broker or any Person acting in a similar
capacity arising from or in connection with the execution and delivery of this Agreement or any
other Loan Document or the consummation of the transactions contemplated herein or therein

          Section 5.14 Additional Domestic Subsidiaries. At the time of the formation of any
direct or indirect Domestic Subsidiary of AGCO after the Agreement Date or the acquisition of any
direct or indirect Domestic Subsidiary of AGCO after the Agreement Date, AGCO shall (a) cause such
new Domestic Subsidiary to provide to the Administrative Agent, for the benefit of the Lenders, a
Guaranty Agreement, in form and substance satisfactory to the Administrative Agent, pursuant to
which such new Domestic Subsidiary shall guaranty the Obligations under this Agreement and (b)
provide to the Administrative Agent, for the benefit of the Lenders, all other documentation,
including one or more opinions of counsel satisfactory to the Administrative Agent, which in its
reasonable opinion is appropriate with respect to the execution and delivery of the Guaranty
Agreement referred to above.

          Section 5.15 Use of Proceeds. The Borrowers will use the proceeds of the Loans solely
for (a) the repayment of all Indebtedness under the Existing Loan Agreement, (b) to pay transaction
costs relating to this Agreement and (c) working capital needs and general corporate purposes, in
each case for the Borrowers and each Borrower’s Subsidiaries.

          Section 5.16 Covenants of the Borrowing Subsidiaries. Each Borrowing Subsidiary will
perform and observe each covenant in Article 5 that AGCO is required to cause it to perform
or observe under such Article.

ARTICLE 6.

INFORMATION COVENANTS

          AGCO covenants and agrees that, so long as any Loan shall remain unpaid, any Letter of Credit
shall be outstanding or any Lender shall have any Commitment hereunder:

          Section 6.1 Reporting Requirements. AGCO will deliver to the Administrative Agent
(and, with respect to clauses (b), (c), (i) and (n) of this Section 6.1, such delivery may
be made by AGCO posting such information directly via IntraLinks):

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          (a) Default Notice. As soon as possible and in any event within two (2) Business Days
after a Responsible Employee shall know of the occurrence of each Default, a statement of an
Authorized Financial Officer of AGCO setting forth details of such Default and the action that AGCO
has taken and proposes to take with respect thereto.

          (b) Quarterly Financials. As soon as available and in any event within forty-five
(45) days (plus any extension period obtained by AGCO from the Securities and Exchange Commission
for the filing of an equivalent periodic report under Rule 12b-25 of the General Rules and
Regulations under the Securities Exchange Act of 1934; provided, in any case, such extension period
shall not exceed fifteen (15) days) after the end of each of the first three (3) quarters of each
fiscal year of AGCO, and within ninety (90) days after the end of the fourth quarter of each fiscal
year of AGCO, consolidated balance sheets of AGCO and its Subsidiaries and (in the case of the
first three (3) fiscal quarters) AGCO and its Subsidiaries, respectively, as of the end of such
quarter and consolidated statements of income and cash flows of AGCO and its Subsidiaries and (if
applicable) AGCO and its Subsidiaries, respectively, for the period commencing at the end of the
previous fiscal year and ending with the end of such quarter, setting forth in each case in
comparative form the corresponding figures for the corresponding period of the preceding fiscal
year, all in reasonable detail and duly certified (subject to year-end audit adjustments) by an
Authorized Financial Officer of AGCO as having been prepared in accordance with Applicable
Accounting Standards, together with, in the case of the financial statements relating to the first
three fiscal quarters:

                    (i) a certificate of said officer stating that no Default has occurred and is continuing or,
if a Default has occurred and is continuing, a statement as to the nature thereof and the action
that AGCO has taken and proposes to take with respect thereto; and

                    (ii) a schedule in form satisfactory to the Administrative Agent of the computations used by
AGCO in determining compliance with the financial covenants contained in Article 7.

          (c) Annual Financials. As soon as available and in any event within ninety (90) days
(plus any extension period obtained by AGCO from the Securities and Exchange Commission for the
filing of an equivalent periodic report under Rule 12b-25 of the General Rules and Regulations
under the Securities Exchange Act of 1934; provided, in any case, such extension period shall not
exceed fifteen (15) days) after the end of each fiscal year of AGCO, a copy of the annual audit
report for such year for AGCO and its Subsidiaries, including therein consolidated balance sheets
and consolidated statements of income and cash flows of AGCO and its Subsidiaries for such fiscal
year, in each case accompanied by an opinion reasonably satisfactory to the Administrative Agent of
KPMG LLC or other independent public accountants of recognized national standing, together with:

                    (i) a certificate of such accounting firm to the Lenders stating that in the course of the
regular audit of the business of AGCO and its Subsidiaries, which audit was conducted by such
accounting firm in accordance with generally accepted auditing standards, such accounting firm has
obtained no knowledge that a Default has occurred and is continuing with respect to any of the
“Financial Covenants” set forth in Article 7, or if, in the opinion of

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such accounting firm, a Default has occurred and is continuing, a statement as to the nature
thereof;

                    (ii) a schedule in form satisfactory to the Administrative Agent of the computations used by
such accountants in determining, as of the end of such fiscal year, compliance with the financial
covenants contained in Article 7; and

                    (iii) a certificate of an Authorized Financial Officer of AGCO stating that no Default has
occurred and is continuing or, if a Default has occurred and is continuing, a statement as to the
nature thereof and the action that AGCO has taken and proposes to take with respect thereto.

          (d) ERISA Events and ERISA Reports. (i) Promptly and in any event within ten (10)
Business Days after any Responsible Employee of any Loan Party or any of its ERISA Affiliates knows
or has reason to know that any ERISA Event with respect to any Loan Party or any of its ERISA
Affiliates has occurred, a statement of an Authorized Financial Officer of AGCO describing such
ERISA Event and the action, if any, that such Loan Party or such ERISA Affiliate has taken and
proposes to take with respect thereto, and (ii) on the date on which any records, documents or
other information must be furnished to the PBGC with respect to any Plan pursuant to Section 4010
of ERISA, a copy of such records, documents and information.

          (e) Plan Terminations. Promptly and in any event within two (2) Business Days after
receipt thereof by any Loan Party or any of its ERISA Affiliates, copies of each notice from the
PBGC stating its intention to involuntarily terminate any Plan of any Loan Party or any of its
ERISA Affiliates or to have a trustee appointed to administer any such Plan.

          (f) Plan Annual Reports. Upon the Administrative Agent’s request, copies of the most
recent Schedule B (Actuarial Information) to the annual report (Form 5500 Series) with respect to
each Plan for which any Loan Party or any of its ERISA Affiliates is required to file such report.

          (g) Multiemployer Plan Notices. Promptly and in any event within five (5) Business
Days after receipt thereof by any Loan Party or any of its ERISA Affiliates from the sponsor of a
Multiemployer Plan of any Loan Party or any of its ERISA Affiliates, copies of each notice
concerning:

                    (i) the imposition of Withdrawal Liability by any such Multiemployer Plan that might have a
Material Adverse Effect;

                    (ii) the reorganization or termination, within the meaning of Title IV of ERISA, of any such
Multiemployer Plan that might be expected to have a Material Adverse Effect; or

                    (iii) the amount of liability incurred by such Loan Party or any of its ERISA Affiliates in
connection with any event described in clause (i) or (ii), if paying such liability might have a
Material Adverse Effect.

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          (h) Litigation. Promptly after the commencement thereof, notice of all actions,
suits, investigations, litigation and proceedings before any court or governmental department,
commission, board, bureau, agency or instrumentality, domestic or foreign, affecting AGCO or any of
its Subsidiaries of the type described in Section 4.1(i).

          (i) Securities Reports. Promptly after the sending or filing thereof, copies of all
proxy statements, financial statements and reports that AGCO or any of its Subsidiaries sends to
the stockholders of AGCO, and copies of all regular, periodic and special reports, and all
registration statements that any Loan Party or any of its Subsidiaries files with the Securities
and Exchange Commission or any governmental authority that may be substituted therefor, or with any
national securities exchange.

          (j) Intentionally Omitted.

          (k) Intentionally Omitted.

          (l) Environmental Conditions. Promptly after the occurrence thereof, notice of any
condition or occurrence on any property of any Loan Party or any of its Subsidiaries that results
in a material noncompliance by any Loan Party or any of its Subsidiaries with any Environmental Law
or Environmental Permit or would be reasonably likely to form the basis of an Environmental Action
against any Loan Party or any of its Subsidiaries or such property that would reasonably be
expected to have a Material Adverse Effect.

          (m) Adverse Developments. Promptly after any Responsible Employee becomes aware of
the occurrence thereof, notice of any other event or condition relating to the business, condition
(financial or otherwise), operations, performance, properties or prospects of AGCO and its
Subsidiaries that is reasonably likely to have a Material Adverse Effect.

          (n) Annual Budget. As soon as possible and in any event by February 28 of each year,
the annual quarterly budget for AGCO and its Subsidiaries, including forecasts of the income
statement, the balance sheet and a cash flow statement, for such year, on a quarter-by-quarter
basis.

          (o) Securitization Funding; Indentures. Promptly following (i) the occurrence of any
Servicer Default, Early Amortization Event, Amortization Event or Termination Event (as such terms
may be defined in any Securitization Documents) under the Securitization Documents, or default by
AGCO under any Subordinated Debt Document, giving in each case the details thereof and specifying
the action proposed to be taken with respect thereto, and (ii) request by the Administrative Agent,
such information as the Administrative Agent may request to determine the aggregate principal
amount of Securitization Funding outstanding on any date.

          (p) Other Information. Such other information respecting the business, condition
(financial or otherwise), operations, performance, taxes, properties or prospects of any Loan Party
or any of its Subsidiaries as the Administrative Agent may reasonably request or any Lender may
from time to time reasonably request through an Agent.

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          Section 6.2 Access to Accountants. Each Borrower hereby authorizes the Administrative
Agent to discuss the financial condition of such Borrower and its Subsidiaries with such Borrower’s
independent public accountants upon reasonable notification to such Borrower of the Administrative
Agent’s intention to do so. Each Borrower shall be given the reasonable opportunity to participate
in any such discussion.

ARTICLE 7.

NEGATIVE COVENANTS

          AGCO covenants and agrees that, so long as any Loan shall remain unpaid, any Letter of Credit
shall be outstanding or any Lender shall have any Commitment hereunder:

          Section 7.1 Indebtedness. AGCO shall not create, assume, incur or otherwise become or
remain obligated in respect of, or permit to be outstanding, and shall not permit any of its
Subsidiaries to create, assume, incur or otherwise become or remain obligated in respect of, or
permit to be outstanding, any Indebtedness except:

          (a) Indebtedness under this Agreement and the other Loan Documents;

          (b) Indebtedness of AGCO under the Subordinated Debt Documents as of the Agreement Date;

          (c) Securitization Funding under the Securitization Documents;

          (d) Intercompany Indebtedness among any of AGCO and the Subsidiaries; provided such
Indebtedness shall be unsecured and, upon the occurrence of an Event of Default, subordinated to
the Obligations;

          (e) Unsecured Indebtedness so long as (i) no Default exists or would result therefrom and (ii)
AGCO determines after giving effect to the incurrence of such Indebtedness that it is in pro forma
compliance with the financial covenants set forth in Section 7.18;

          (f) Indebtedness secured by the Liens on acquired assets permitted by clause (e) of the
definition of Permitted Liens provided such Indebtedness was in existence prior to the acquisition
of such assets and was not created in contemplation thereof; and

          (g) Other secured Indebtedness for borrowed money (including any Capitalized Leases and
Indebtedness secured by purchase money security interests) not exceeding an aggregate amount
outstanding at any time of U.S. $100,000,000 for AGCO and its Subsidiaries.

          Section 7.2 Intentionally Omitted.

          Section 7.3 Liens, Etc. AGCO shall not create, incur, assume or suffer to exist, or
permit any of its Subsidiaries to create, incur, assume or suffer to exist, any Lien on or with
respect to any of its properties of any character (including, without limitation, Receivables)
whether now owned or hereafter acquired or, except Permitted Liens.

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          Section 7.4 Restricted Payments. AGCO shall not, and shall not permit any of its
Subsidiaries to, directly or indirectly declare or make any Restricted Payment, except (a) AGCO’s
Subsidiaries may make Restricted Payments to AGCO or any other Subsidiary, (b) any Subsidiary that
is not a Wholly-Owned Subsidiary may make Restricted Payments to the holders of its Stock on a pro
rata basis or, if made to AGCO or any other Subsidiary, on a preferred basis, and (c) so long as no
Default then exists or would be caused thereby, AGCO may (i) declare and deliver dividends and
distributions payable only in, or convert any preferred stock into, Common Stock of AGCO, (ii) (A)
declare and pay cash dividends on its Common Stock listed on a national securities exchange or
Nasdaq or its Series A Convertible Preferred Stock or (B) purchase, redeem, retire or otherwise
acquire shares of its own outstanding Stock for cash, in each case for (A) and (B) of this clause
(ii), in an aggregate amount after the Agreement Date not to exceed (x) $300,000,000, plus (y) 50%
of Consolidated Net Income on a cumulative basis for the fiscal year ending 2008 and each fiscal
year thereafter, (iii) purchase, redeem, retire or otherwise acquire shares of its own outstanding
Stock for cash in connection with employee stock option plans, (iv) acquire shares of its Stock to
eliminate fractional shares and (v) redeem any preferred Stock purchase rights issued under AGCO’s
stockholders rights plan at a redemption price of $0.01 per right.

          Section 7.5 Sale-Leasebacks. AGCO shall not directly or indirectly become or remain
liable, or permit any Subsidiary to become or remain liable, as lessee or guarantor or other surety
with respect to any lease, whether a Capitalized Lease or otherwise, of any assets (whether real or
personal or mixed), whether now owned or hereafter acquired, that: (a) AGCO or any Subsidiary has
sold or transferred or is to sell or transfer to any other Person, other than to another
Subsidiary, or (b) AGCO or any Subsidiary intends to use for substantially the same purpose as any
other property that has been sold or is to be sold or transferred by AGCO or any Subsidiary to any
Person in connection with such lease, except for (i) any lease in effect on the Agreement Date,
(ii) the lease of the facility located in Hesston, Kansas, and other facilities located in the
United States owned by AGCO or is Subsidiaries as of the Agreement Date in connection with a Tax
Abatement Transaction; provided, the documentation evidencing or governing such Tax
Abatement Transaction is in form and substance satisfactory to the Administrative Agent and the
Administrative Agent receives such other documentation as it may reasonably request, (iii) the
lease of certain office space located at the Coventry, England facility after the sale thereof by
the Borrowers and (iv) any other sale-leaseback transactions not to exceed (calculated based upon
the fair market value of the property subject to, and at the time of, such transaction) an
aggregate principal amount equal to $75,000,000 during the term of this Agreement.

          Section 7.6 Fundamental Changes, Etc. AGCO shall not merge into or consolidate with
any Person or permit any Person to merge into it, or permit any of its Subsidiaries to do so,
except that any Subsidiary of AGCO may merge into or consolidate with any other Subsidiary of AGCO
or any other Person to consummate a transaction permitted by Section 7.8 or 7.9, so
long as (a) no Default then exists hereunder or would be caused thereby, (b) the Administrative
Agent receives written notice of any such merger or consolidation at least thirty (30) days (or
such shorter period as may be acceptable to the Administrative Agent) prior to the effectiveness
thereof if such merger or consolidation involves a Loan Party (provided no notice shall be required
in connection with a merger between a Loan Party and a non-Loan Party organized under the laws of
the same jurisdiction if the Loan Party is the survivor of such

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merger), (c) except as set forth in clause (f) below, the Person surviving such merger, or the
Person formed by such consolidation, shall be a Subsidiary of AGCO, (d) if a Loan Party is a party
to such merger and the surviving Person of any such merger is not a Loan Party, the surviving
Person shall assume, in a manner reasonably satisfactory to the Administrative Agent, the
obligations of such Loan Party under the Loan Documents to which such Loan Party was a party, (e)
if a Loan Party is a party to such consolidation, the Person formed by such consolidation shall
assume, in a manner reasonably satisfactory to the Administrative Agent, the obligations of such
Loan Party under the Loan Documents to which such Loan Party was a party, (f) if the Person
surviving such merger, or the Person formed by such consolidation, is not a Subsidiary of AGCO,
such merger or consolidation is permitted by Section 7.7 and (g) if the surviving Person of
such merger is a Domestic Subsidiary, the Administrative Agent receives the documents required to
be delivered pursuant to Section 5.14. AGCO shall not, and shall not permit any Subsidiary
to, liquidate or dissolve itself or otherwise wind up its business, except any Subsidiary may
liquidate or dissolve if all of its assets are transferred to AGCO or another Subsidiary;
provided, the Administrative Agent receives thirty (30) days’ prior written notice if such
Subsidiary being liquidated or dissolved is a Loan Party, and the assets of a Domestic Subsidiary
must be transferred to another Domestic Subsidiary.

          Section 7.7 Sales of Assets. AGCO shall not sell, lease, transfer or otherwise
dispose of, or permit any of its Subsidiaries to sell, lease, transfer or otherwise dispose of, any
assets, except:

          (a) sales of Inventory in the ordinary course of its business;

          (b) sales of wholesale Receivables (together with the Related Assets) invoiced to third
parties at addresses located in the United States, Canada, and/or Europe under the US
Securitization, the Canadian Securitization and/or the European Securitization, but only so long as
the aggregate face amount of Receivables purchased by the purchasers under such facility and
outstanding on any date of determination may not exceed U.S. $600,000,000;

          (c) so long as no Default has occurred and is then continuing, the sale of Real Property
(together with the building and improvements thereon) in connection with a transaction permitted by
Section 7.5.

          (d) transfers of assets (i) between the Subsidiaries that are Loan Parties, (ii) between
Subsidiaries that are not Loan Parties and (iii) from a Subsidiary that is a Loan Party to a
Subsidiary that is not a Loan Party; provided such transfer is in the ordinary course of business
in compliance with Section 7.11;

          (e) sales of Receivables by a Foreign Subsidiary in connection with factoring arrangements in
the ordinary course of business;

          (f) sale or disposition of Investments in Deutz AGCO Motores SA, Tractors and Farm Equipment
Limited; provided at the time of such sale no Default shall exist;

          (g) so long as no Default has occurred and is then continuing, the sale of any other asset by
AGCO or any Subsidiary (other than a bulk sale of Inventory) if (i) the purchase price paid to
AGCO or such Subsidiary for such asset or assets, in a single transaction

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or related transactions, shall be at least equal to the Fair Market Value (as defined below)
of such asset(s) as determined by (x) with respect to any asset or assets, in a single transaction
or related transactions, with a Fair Market Value of at least U.S. $25,000,000 (or the foreign
equivalent thereof), the Board of Directors of AGCO or such Subsidiary, as the case may be, and
evidenced in a resolution of such Board of Directors, and (y) with respect to any asset or assets,
in a single transaction or related transactions, with a Fair Market Value of less than U.S.
$25,000,000 (or the foreign equivalent thereof), two of any of the chief financial officer, the
chief executive officer, the president, the chief operating officer or any equivalent thereof, and
(ii) the purchase price (including any portion thereof in respect of an assumption of liabilities
of AGCO or such Subsidiary) paid to AGCO or such Subsidiary for such asset or assets, shall not
exceed U.S. $50,000,000 in the aggregate for such transactions in any fiscal year. For the
purposes of this subsection, “Fair Market Value” means, with respect to any asset or property, the
value that would be obtained 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 by the Board of Directors or such officer of such seller; and

          (h) sales (without recourse for loss resulting from an account debtor’s inability to pay) of
wholesale Receivables previously subject to the Canadian Securitization or the US Securitization
(together with the Related Assets) under the Dealer Receivable Factoring Program.

          Section 7.8 Investments. AGCO shall not make or hold, or permit any of its
Subsidiaries to make or hold, any Investment unless the following conditions have been satisfied:
(i) no Default then exists or would be caused thereby, (ii) AGCO determines after giving effect to
such Investment it will be in pro forma compliance with Section 7.18 and (iii) to the
extent the Person acquired is a Domestic Subsidiary, the Administrative Agent shall have received
all documents required by Section 5.14.

          Section 7.9 Acquisitions. AGCO shall not, and shall not permit any Subsidiary to,
engage in or consummate any acquisition of all or substantially all of the assets of a business or
a business unit, or all or substantially all of the operating assets of any Person, or assets which
constitute all or substantially all of the assets of a division or a separate or separable line of
business of any Person, or all or substantially all of the Stock of any other Person, except
Investments and acquisitions in assets or Persons after the Agreement Date by AGCO and its Wholly
Owned Subsidiaries; provided (a) any Person acquired will be a Subsidiary immediately after such
Investment or acquisition, (b) such assets are usable in, or Person is primarily engaged in,
businesses that are related, ancillary or complementary to the business of AGCO and its
Subsidiaries as of the Agreement Date, (c) no Default then exists or would be caused thereby, (d)
AGCO will be in pro forma compliance with Section 7.18 hereof after giving effect to such
acquisition or Investment, as of the last day of the immediately preceding fiscal quarter for which
financial statements have been delivered to the Administrative Agent, (e) prior to making any such
acquisition or Investment in excess of $100,000,000 (individually or for a series of related
transactions), AGCO shall provide to the Administrative Agent a certificate of an Authorized
Officer of AGCO certifying (A) that AGCO is in compliance with the financial covenants hereof
before and after giving effect to such acquisition or Investment, (B) that no Default then exists
or would be caused thereby and (C) the total amount of such acquisition or Investment and the full
name and jurisdiction of organization of any new Subsidiary created for the purpose of effecting

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such acquisition or Investment and (f) to the extent the Person acquired is a Domestic
Subsidiary, the Administrative Agent shall have received all documents required by Section
5.14.

          Section 7.10 Change in Nature of Business. AGCO shall not, or permit any of its
Subsidiaries (including without limitation any Persons becoming Subsidiaries after the Agreement
Date) to, make any material change in the nature of its business as carried on at the Agreement
Date or on the date such Person becomes a Subsidiary thereafter. AGCO shall not permit AGCO
Equipment Company at any time to own assets with a fair market value in excess of $250,000 unless
AGCO Equipment Company has become a Guarantor and delivered all agreements and documents required
pursuant to Section 5.14 in connection therewith.

          Section 7.11 Affiliate Transactions. AGCO shall not enter into or be a party to, or
permit any of its Subsidiaries to enter into or be a party to, any agreement or transaction with
any Affiliate (other than a Subsidiary or in a transaction constituting an Investment permitted
hereunder) except pursuant to the reasonable requirements of AGCO’s or such Subsidiary’s business
and upon fair and reasonable terms that, except in connection with the purchase and sale of
Inventory and transactions with the Finance Companies, are approved by AGCO’s or such Subsidiary’s
Board of Directors, no less favorable to AGCO or such Subsidiary than it would obtain in a
comparable arm’s-length transaction with a Person not an Affiliate, and on terms consistent with
the business relationship of AGCO or such Subsidiary and such Affiliate prior to the Agreement
Date, if any. Nothing contained in this Agreement shall prohibit (i) increases in compensation and
benefits for officers and employees of AGCO which are customary in the industry or consistent with
the past business practice of AGCO, or payment of customary directors’ fees and indemnities or (ii)
transactions entered into in the ordinary course of business with an Affiliate that is a Finance
Company provided that such transactions are on fair and reasonable terms no less favorable to AGCO
or such Subsidiary than could be obtained, at the time of such transaction or, if such transaction
is pursuant to a written agreement, at the time of the execution of the agreement providing
therefor, in a comparable arm’s-length transaction with a Person that is not such a holder or an
Affiliate.

          Section 7.12 Amendments. AGCO shall not, and shall not permit any Subsidiary to, (a)
 without the prior written consent of the Administrative Agent enter into any amendment or waiver
of any of the Subordinated Debt Documents, which in any case would adversely affect the rights of
the Lenders under this Agreement or any other Loan Document or make the provisions of any such
document after such amendment materially more burdensome on AGCO or its Subsidiaries, (b) amend,
its charter, bylaws or similar constituent documents that would have a Material Adverse Effect, or
(c) amend, modify or supplement any subordination terms of any Indebtedness that has been
contractually subordinated to the Obligations.

          Section 7.13 Prepayments of Subordinated Indebtedness. From and after the Agreement
Date, AGCO shall not, and shall not permit its Subsidiaries to, prepay, redeem, defease or purchase
in any manner, or deposit or set aside funds for the purpose of any of the foregoing, make any
payment in respect of principal of, or make any payment in respect of interest on, any Indebtedness
evidenced by the Subordinated Debt Documents, except AGCO and its Subsidiaries may (a) make
regularly scheduled payments of principal or interest required in accordance with the terms of the
Subordinated Debt Documents, (b) redeem any convertible notes included in the Subordinated Debt
Documents provided that (i) any such redemption is

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mandatory and results from the exercise of a right of conversion by the holders of such notes
pursuant to the Subordinated Debt Documents, and (ii) at the time of such redemption, no Default or
Event of Default shall have occurred and be continuing or would result therefrom and (c) prepay in
full in cash or with the proceeds of new Indebtedness the European Subordinated Notes;
provided, (i) at the time of such prepayment, no Default or Event of Default shall have
occurred and be continuing or result therefrom, and (ii) any such refinancing with the proceeds of
new Indebtedness (A) shall be on terms and conditions at least as favorable to AGCO as the European
Subordinated Notes and (B) will not result in an increase in the aggregate principal amount of the
Indebtedness unless such increase is permitted by Section 7.1.

          Section 7.14 Restrictions; Negative Pledge. AGCO shall not permit any of its
Subsidiaries to enter into agreements that prohibit or limit the amount of dividends that may be
paid to AGCO or another Subsidiary of AGCO or the amount of loans that may be made to AGCO or
another Subsidiary of AGCO by any of its Subsidiaries or any demands for payment on Indebtedness
owing by any Subsidiary of AGCO to AGCO or another Subsidiary of AGCO, other than (a) restrictions
imposed under an agreement for the sale of all of the Stock or other equity interest of a
Subsidiary or for the sale of a substantial part of the assets of such Subsidiary, in either case
to the extent permitted hereunder and pending the consummation of such sale, (b) restrictions in
any Securitization Documents, and restrictions set forth in the Subordinated Debt Documents as of
the effective date of such documents, and (c) restrictions in any agreement with another Person
relating to a joint venture conducted through a Subsidiary of AGCO in which such Person is a
minority stockholder requiring the consent of such Person to the payment of dividends. Neither AGCO
nor any Subsidiary of AGCO shall, directly or indirectly, enter into any agreement (other than the
Loan Documents) with any Person that prohibits or restricts or limits the ability of AGCO or such
Subsidiary to create, incur, pledge, or suffer to exist any Lien upon any of its respective assets,
except for (i) restrictions in the Securitization Documents and set forth in the Subordinated Debt
Documents as of the effective date of such documents, (ii) customary restrictions relating to the
subletting, assignment, or transfer of any asset that is subject to a lease or license, (iii)
restrictions arising in connection with a Permitted Lien on any asset provided that such
restriction is limited to the assets subject to such Permitted Lien, (iv) restrictions in
connection with Indebtedness permitted by Section 7.1, (v) agreements governing
Indebtedness as in effect on the Agreement Date and any amendments, restatements, modifications,
renewals, increases, supplements, refundings, replacements or refinancings of those agreement;
provided that the amendment, restatements, modifications, renewals, increases, supplements,
refundings, replacements or refinancings are not more restrictive with respect to such negative
pledge restrictions than those contained in those agreements on the Agreement Date, (vi) any
instrument governing Indebtedness of a Person acquired by AGCO or any of its Subsidiaries as in
effect at the time of such acquisition (except to the extent such Indebtedness was 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 (vii) customary non-assignment provisions in
contracts and licenses entered into in the ordinary course of business.

          Section 7.15 Accounting Changes. AGCO will not change its fiscal year for accounting
purposes from the fiscal year ending December 31.

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          Section 7.16 Issuance or Sales of Stock. AGCO shall not (a) sell, assign or otherwise
transfer, or permit any of its Subsidiaries to sell, assign or otherwise transfer, any Stock of any
Subsidiary, or (b) permit any Subsidiary to issue or sell any shares of its Stock, except (i) to
qualify directors of Subsidiaries where required by applicable law or to satisfy other requirements
of applicable law with respect to the ownership of Stock of Subsidiaries incorporated in
jurisdictions outside of the United States of America, (ii) issuances and sales of Stock by
Subsidiaries to AGCO or other Wholly Owned Subsidiaries of AGCO, and (iii) the sale of Stock of a
Subsidiary held by AGCO or its Subsidiaries, to the extent permitted by Section 7.7.

          Section 7.17 No Notice Under Indentures. AGCO shall not deliver, or permit there to
be delivered, to any trustee under any Subordinated Debt Documents, any notice that any agreement,
instrument or document, other than this Agreement and the Loan Documents, is the “Bank Credit
Agreement” (or similar defined term) thereunder.

          Section 7.18 Financial Covenants.

          (a) Total Debt Ratio. AGCO shall not allow, as of the end of each fiscal quarter of
AGCO, the Total Debt Ratio to exceed 3.00 to 1.00.

          (b) Interest Coverage Ratio. AGCO shall maintain, as of the end of each fiscal
quarter of AGCO, an Interest Coverage Ratio of not less than 3.00 to 1.00.

          Section 7.19 Covenants of the Borrowing Subsidiaries. Each Borrowing Subsidiary will
perform and observe each covenant in Article 7 that AGCO is required to cause it to perform
or observe under such Article.

          Section 7.20 Anti-Terrorism Laws. None of Borrowers nor any Affiliate of any Borrower
or agent of any Borrower shall knowingly: (i) conduct any business or engage in any transaction or
dealing with any Blocked Person, including the making or receiving of any contribution of funds,
goods or services to or for the benefit of any Blocked Person; (ii) deal in, or otherwise engage
in any transaction relating to, any property or interests in property blocked pursuant to Executive
Order No. 13224 or other applicable Anti-Terrorism Law; (iii) engage in or conspire to engage in
any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to
violate any of the prohibitions set forth in any Anti-Terrorism Law. Borrowers shall deliver to
Administrative Agent and Lenders any certification or other evidence requested from time to time by
the Administrative Agent or any Lender, in their sole discretion, confirming Borrowers’ compliance
with this Section 7.20.

          Section 7.21 Speculative Transactions. AGCO will not, nor will it permit any of its
Subsidiaries to, engage in any transaction involving commodity options or futures contracts or any
similar speculative transactions except for Hedge Agreements that are used solely as part of normal
business operations as a risk management strategy and/or hedge against charges resulting from
market operations in accordance with AGCO’s policies and not as a means to speculate for investment
purposes or trends and shifts in financial or commodities markets.

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ARTICLE 8.

EVENTS OF DEFAULT

          Section 8.1 Events of Default. Each of the following shall constitute an Event of
Default (an “Event of Default”), whatever the reason for such event and whether it shall be
voluntary or involuntary or be effected by operation of law or pursuant to any judgment or order of
any court or any order, rule, or regulation of any governmental or non-governmental body:

          (a) (i) any Borrower shall fail to pay (x) any principal or face amount of any Loan on the
date when the same becomes due and payable, or (y) any interest or fees due hereunder within three
(3) Business Days after the date when the same becomes due and payable, or (ii) any Loan Party
shall fail to make any other payment under any Loan Document, in any case within five (5) Business
Days after the date when the same becomes due and payable; or

          (b) any representation or warranty made by any Loan Party (or any of its officers) under or in
connection with any Loan Document shall prove to have been incorrect in any material respect when
made; or

          (c) (i) any Borrower shall fail to perform any term, covenant or agreement contained in
Article 5 if such failure shall remain unremedied for thirty (30) days after the earlier of
(x) such Borrower having knowledge thereof, and (y) written notice thereof having been given to
AGCO; (ii) any Borrower shall fail to perform any term, covenant or agreement contained in
Article 6 if such failure shall remain unremedied for ten (10) days after the earlier of
(x) such Borrower having knowledge thereof, and (y) written notice thereof having been given to
AGCO; (iii) any Borrower shall fail to perform, observe or comply with any other term, covenant or
agreement contained in Article 7; or (iv) any Borrower or any other Loan Party shall fail
to perform any other term, covenant or agreement contained in this Agreement or any other Loan
Document not referenced elsewhere in this Section 8.1 if such failure shall remain
unremedied for thirty (30) days after the earlier of (x) such Loan Party having knowledge thereof,
and (y) written notice thereof having been given to AGCO; or

          (d) AGCO or any Subsidiary shall fail to pay any principal of, premium or interest on or any
other amount payable in respect of any Indebtedness, if such Indebtedness is outstanding in a
principal or notional amount of at least U.S. $10,000,000 in the aggregate (but excluding
Indebtedness outstanding hereunder), when the same becomes due and payable (whether by scheduled
maturity, required prepayment, acceleration, demand or otherwise), and such failure shall continue
after the applicable grace period, if any, specified in the agreement or instrument relating to
such Indebtedness; or any other event shall occur or condition shall exist under any agreement or
instrument relating to any such Indebtedness and shall continue after the applicable grace period,
if any, specified in such agreement or instrument, if the effect of such event or condition is to
accelerate, or to permit the acceleration of, the maturity of such Indebtedness or otherwise to
cause, or to permit the holder thereof to cause, such Indebtedness to mature; or any such
Indebtedness shall be declared to be due and payable or required to be prepaid or redeemed (other
than by a regularly scheduled required prepayment or redemption), purchased or defeased, or an
offer to prepay, redeem, purchase or defease such Indebtedness shall be required to be made, in
each case prior to the stated maturity thereof; or

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          (e) AGCO, any Material Subsidiary or any Loan Party shall generally not pay its debts as such
debts become due, shall suspend or threaten to suspend making payment whether of principal or
interest with respect to any class of its debts or shall admit in writing its insolvency or its
inability to pay its debts generally, or shall make a general assignment for the benefit of
creditors; or any proceeding shall be instituted by or against AGCO, any Material Subsidiary or any
Loan Party seeking, or seeking the administration, to adjudicate it a bankrupt or insolvent, or
seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or
composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization
or relief of debtors, or seeking the entry of an order for relief or the appointment of a receiver,
administrator, receiver and manager, trustee, or other similar official for it or for any
substantial part of its property (including, without limitation, any proceeding under the
Bankruptcy Code, the UK Insolvency Act of 1986, or any similar law in any other jurisdiction) and,
in the case of any such proceeding instituted against it (but not instituted by it) that is being
diligently contested by it in good faith, either such proceeding shall remain undismissed or
unstayed for a period of thirty (30) days or any of the actions sought in such proceeding
(including without limitation the entry of an order for relief against, or the appointment of a
receiver, administrator, receiver and manager, trustee, custodian or other similar official for, it
or any substantial part of its property) shall occur; or AGCO, any Material Subsidiary or any Loan
Party shall take any action to authorize any of the actions set forth above in this subsection, or
an encumbrancer takes possession of, or a trustee or administrator or other receiver or similar
officer is appointed in respect of, all or any part of the business or assets of AGCO, any Material
Subsidiary, or any Loan Party or distress or any form of execution is levied or enforced upon or
sued out against any such assets and is not discharged within seven days of being levied, enforced
or sued out, or any Lien that may for the time being affect any of its assets becomes enforceable,
or anything analogous to any of the events specified in this subsection occurs under the laws of
any applicable jurisdictions; or

          (f) any judgment or order for the payment of money in excess of U.S. $10,000,000 (other than
any such judgment for a monetary amount insured against by a reputable insurer that shall have
admitted liability therefor), individually or in the aggregate, shall be rendered against AGCO or
any Subsidiary, or a warrant of attachment or execution or similar process shall be issued or
levied against property of AGCO or any Subsidiary pursuant to a judgment which, together with all
other such property of AGCO or any Subsidiary subject to other such process, exceeds in value U.S.
$10,000,000 in the aggregate, and either (i) enforcement proceedings shall have been commenced by
any creditor upon such judgment, decree or order, or (ii) there is a period of thirty (30)
consecutive days following entry of such judgment or order during which a stay of enforcement of
such judgment or order, by reason of a pending appeal or otherwise, is not in effect; or

          (g) any non-monetary judgment or order shall be rendered against AGCO or any Subsidiary that
is reasonably likely to have a Material Adverse Effect, and within thirty (30) days after the entry
or issue thereof, such judgment or order shall not have been vacated, rescinded or stayed pending
appeal or otherwise; or

          (h) any material portion of any Loan Document shall at any time and for any reason be declared
to be null and void, or a proceeding shall be commenced by any Loan Party or any of its respective
Affiliates, or by any governmental authority having jurisdiction

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over any Loan Party or any of its Affiliates, seeking to establish the invalidity or
unenforceability thereof (exclusive of questions of interpretation of any provision thereof), or
any material provision of any Loan Document shall for any reason cease to be valid and binding on
or enforceable against any Loan Party to it, or any such Loan Party shall so state in writing; or

          (i) a Change of Control shall occur; or

          (j) (i) any ERISA Event shall have occurred with respect to a Plan of any Loan Party or any
ERISA Affiliate as a result of an Insufficiency thereunder, and any Loan Party shall fail to make
any payment in excess of U.S. $25,000,000 as and when required to be made under ERISA as a result
of such Insufficiency, or any such Insufficiency shall have occurred and then exist that would
result in a Material Adverse Effect; or (ii) any Loan Party or any ERISA Affiliate shall have been
notified by the sponsor of a Multiemployer Plan of such Loan Party or any ERISA Affiliate that it
has incurred Withdrawal Liability to such Multiemployer Plan in an amount that, when aggregated
with all other amounts required to be paid to Multiemployer Plans by the Loan Parties and their
ERISA Affiliates as Withdrawal Liability (determined as of the date of such notification), exceeds
U.S. $25,000,000 or requires payments exceeding U.S. $5,000,000 per annum or would otherwise result
in a Material Adverse Effect; or (iii) any Loan Party or any ERISA Affiliate shall have been
notified by the sponsor of a Multiemployer Plan that such Multiemployer Plan is in reorganization
or is being terminated, within the meaning of Title IV of ERISA, and as a result of such
reorganization or termination the aggregate annual contributions of such Loan Party and their ERISA
Affiliates to all Multiemployer Plans that are then in reorganization or being terminated have been
or will be increased over the amounts contributed to such Multiemployer Plans for the plan years of
such Multiemployer Plans immediately preceding the plan years in which such reorganization or
termination occurs by an amount exceeding U.S. $25,000,000 or which would otherwise result in a
Material Adverse Effect; or

          (k) a Termination Event, an Amortization Event, or an Early Amortization Event, or, if any
Subsidiary of AGCO is the servicer at such time, a Servicer Default (as such terms are defined in
any Securitization Document) under any of the Securitization Documents, or any other event which
causes an early permanent termination of a commitment to purchase or loan under a Securitization
Facility, shall occur and be continuing and shall not have been rescinded in accordance with the
terms of such Securitization Documents; provided, however, that if such Termination
Event, Amortization Event or Early Amortization Event is solely the result of the election of AGCO
or any Subsidiary to voluntarily terminate the securitization program pursuant to such
Securitization Documents in respect of which such Termination Event, Amortization Event or Early
Amortization Event has occurred, then such event shall not be an Event of Default provided that
either (i) such securitization program is simultaneously replaced by another securitization program
or factoring arrangement which will provide a comparable level of liquidity for AGCO or the
Subsidiary party thereto, as determined by, and subject to documentation in form and substance
satisfactory to, the Administrative Agent, or (ii) the Administrative Agent determines that the
liquidity requirements of AGCO or the Subsidiary party to such terminating securitization do not
require the maintenance of such securitization program.

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          Section 8.2 Remedies. If an Event of Default shall have occurred and until such Event
of Default is waived in writing by the Required Lenders, or all of the Lenders as may be required
by Section 10.1, the Administrative Agent:

          (a) may, and shall at the request of the Required Lenders, by notice to AGCO, declare the
obligation of each Lender to make Loans and of the Issuing Bank to issue Letters of Credit and the
Swing Line Bank to make Swing Line Advances to be terminated, whereupon the same shall forthwith
terminate;

          (b) may, and shall at the request of the Required Lenders (i) by notice to AGCO, declare the
Loans, all interest thereon and all other amounts payable under this Agreement and the other Loan
Documents to be forthwith due and payable, whereupon the Loans, all such interest and all such
amounts shall become and be forthwith due and payable, without presentment, demand, protest or
further notice of any kind, all of which are hereby expressly waived by the Borrowers, and (ii) by
notice to each party required under the terms of any agreement in support of which a Letter of
Credit is issued, request that all Obligations under such agreement be declared to be due and
payable; provided that in the event of an actual or deemed entry of an order for relief or any
assignment, proposal or the giving of notice of intention to make a proposal with respect to any
Borrower under the Bankruptcy Code, (x) the obligation of each Lender to make Revolving Loans and
of the Issuing Bank to issue Letters of Credit and of the Swing Line Bank to make Swing Line Loans
shall automatically be terminated and (y) the Loans, all such interest and all such amounts shall
automatically become and be due and payable, without presentment, demand, protest or any notice of
any kind, all of which are hereby expressly waived by the Borrowers; and

          (c) may, and shall at the request of the Required Lenders, exercise all of the post-default
rights granted to it and to them under the Loan Documents or under Applicable Law. The
Administrative Agent, for the benefit of itself, the Issuing Bank and the Lenders, shall have the
right to the appointment of a receiver for the property of each Borrower, and each Borrower hereby
consents to such rights and such appointment and hereby waives any objection each Borrower may have
thereto or the right to have a bond or other security posted by the Administrative Agent, the
Issuing Bank or the Lenders in connection therewith.

          Section 8.3 Actions in Respect of the Letters of Credit. If (a) an event of an actual
or deemed entry of an order for relief or any assignment, proposal or the giving of notice of
intention to make a proposal with respect to any Borrower under the Bankruptcy Code shall have
occurred, AGCO will forthwith, and (b) any other Event of Default shall have occurred and be
continuing, the Administrative Agent may, irrespective of whether it is taking any of the actions
described in Section 8.2 or otherwise, make demand upon AGCO to, and forthwith upon such
demand AGCO will, pay to the Administrative Agent on behalf of the Lenders in same-day funds at the
Administrative Agent’s office designated in such demand, for deposit in such interest-bearing
account as the Administrative Agent shall specify (the “L/C Cash Collateral Account”), an
amount equal to the aggregate Available Amount of all Letters of Credit then outstanding. If at
any time the Administrative Agent determines that any funds held in the L/C Cash Collateral Account
are subject to any right or claim of any Person other than the Administrative Agent and the Lenders
or that the total amount of such funds is less than the amount required to be on deposit hereunder,
AGCO will, forthwith upon demand by the

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Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and
held in the L/C Cash Collateral Account, an amount equal to the excess of (i) such amount required
to be deposited hereunder over (ii) the total amount of funds, if any, then held in the L/C Cash
Collateral Account that the Administrative Agent determines to be free and clear of any such right
and claim. The L/C Cash Collateral Account shall be in the name and under the sole dominion and
control of the Administrative Agent. The Administrative Agent shall have no obligation to invest
any amounts on deposit in the L/C Cash Collateral Account. AGCO grants to the Administrative
Agent, for its benefit and the benefit of the Lenders, the Administrative Agent and the Issuing
Bank, a lien on and security interest in the L/C Cash Collateral Account and all amounts on deposit
therein as collateral security for the performance of the Borrowers’ obligations under this
Agreement and the other Loan Documents. The Administrative Agent shall have all rights and
remedies available to it under Applicable Law with respect to the L/C Cash Collateral Account and
all amounts on deposit therein.

          Section 8.4 Application of Payments. Subsequent to the occurrence and during the
continuation of an Event of Default, payments and prepayments with respect to the Obligations made
to the Administrative Agent, the Lenders, the Issuing Bank, the Swing Line Bank or otherwise
received by the Administrative Agent, any Lender, any Issuing Bank or the Swing Line Bank
(excluding any funds held in the L/C Cash Collateral Account which shall be applied to, or held to
pay, the Available Amount of all Letters of Credit then outstanding as set forth in Section
8.3) shall be distributed in the following order of priority: first, to the reasonable
costs and expenses (including reasonable attorneys’ fees and expenses), if any, incurred by the
Administrative Agent, any Lender, the Issuing Bank or the Swing Line Bank in the collection of such
amounts under this Agreement or of the Loan Documents until paid in full; second, to any
fees then due and payable to the Administrative Agent under this Agreement or any other Loan
Document until paid in full; third, to any fees then due and payable to the Lenders and the
Issuing Bank under this Agreement until paid in full; fourth, to the ratable payment of
interest then due in respect of the Revolving Loans and the Swing Line Loans until paid in full;
fifth, to the ratable payment of principal of the Revolving Loans and the Swing Line Loans
and, to the L/C Cash Collateral Account, for any Letters of Credit then outstanding, in each case
until paid (or cash collateralized) in full; sixth, to any other Obligations not otherwise
referred to in this Section until paid in full; and seventh, to Borrowers or such other
Person entitled thereto under applicable law.

ARTICLE 9.

THE ADMINISTRATIVE AGENT

          Section 9.1 Authorization and Action. Each Lender hereby appoints and authorizes
Rabobank to take action on its behalf as the Administrative Agent to exercise such powers and
discretion under this Agreement and the other Loan Documents as are delegated to them respectively
by the terms hereof and thereof, together with such powers and discretion as are reasonably
incidental thereto. As to any matters not expressly provided for by the Loan Documents, the
Administrative Agent shall not be required to exercise any discretion or take any action, but shall
be required to act or to refrain from acting (and shall be fully protected in so acting or
refraining from acting) upon the instructions of the Required Lenders, and such instructions shall
be binding upon all Lenders; provided that the Administrative Agent shall not be required to take
any action that exposes it or its officers or directors to personal liability or

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that is contrary to this Agreement or Applicable Law. Except for action requiring the
approval of the Required Lenders, the Administrative Agent shall be entitled to use their
discretion with respect to exercising or refraining from exercising any rights which may be vested
in it by, and with respect to taking or refraining from taking any action or actions which it may
be able to take under or in respect of, any Loan Document, unless the Administrative Agent shall
have been instructed by the Required Lenders to exercise or refrain from exercising such rights or
to take or refrain from taking such action. No Agent shall incur any liability under or in respect
of any Loan Document with respect to anything which it may do or refrain from doing in the
reasonable exercise of its judgment or which may seem to it to be necessary or desirable in the
circumstances, except for its gross negligence or willful misconduct as determined by a final,
non-appealable judicial order.

          Section 9.2 Administrative Agent’s Reliance, Etc. Neither Administrative Agent nor
any of its directors, officers, agents or employees shall be liable for any action taken or omitted
to be taken by it or them under or in connection with the Loan Documents, except for its or their
own gross negligence or willful misconduct. Without limitation of the generality of the foregoing,
each Agent:

          (a) respectively, may consult with legal counsel (including counsel for any Loan Party),
independent public accountants and other experts selected by it, and may rely on any opinion of
counsel delivered under this Agreement, and shall not be liable for any action taken or omitted to
be taken in good faith by it in accordance with the advice of such counsel, accountants or experts
or any such opinion;

          (b) make no warranty or representation to any Lender and shall not be responsible to any
Lender for any statements, warranties or representations made in or in connection with the Loan
Documents by any other Person;

          (c) shall not have any duty to ascertain or to inquire as to the performance or observance of
any of the terms, covenants or conditions of any Loan Document on the part of any Loan Party or to
inspect the property (including the books and records) of any Loan Party;

          (d) shall not be responsible to any Lender for the due execution, legality, validity,
enforceability, genuineness, sufficiency or value of any Loan Document or any other instrument or
document furnished pursuant hereto (other than its own execution and delivery thereof) or the
creation, attachment perfection or priority of any Lien purported to be created under or
contemplated by any Loan Document;

          (e) respectively, shall incur no liability under or in respect of any Loan Document by acting
upon any notice, consent, certificate or other instrument or writing (which may be by telegram,
telecopy, cable or telex) believed by it to be genuine and signed or sent by the proper party or
parties;

          (f) shall have no liability or responsibility to any Loan Party for any failure on the part of
any Lender to comply with any obligation to be performed by such Lender under this Agreement;

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          (g) shall not be deemed to have knowledge or notice of the occurrence of any Default or Event
of Default under this Agreement unless they have received notice from a Lender or Loan Party
referring to this Agreement, describing such Default or Event of Default and stating that such
notice is a “Notice of Default”;

          (h) shall incur no liability as a result of any determination whether the transactions
contemplated by the Loan Documents constitute a “highly leveraged transaction” within the meaning
of the interpretations issued by the Comptroller of the Currency, the Federal Deposit Insurance
Corporation and the Board of Governors of the Federal Reserve System; and

          (i) may act directly or through agents or attorneys on its behalf but shall not be responsible
to any Lender for the negligence or misconduct of any agents or attorneys selected by it with
reasonable care.

          Section 9.3 Administrative Agent, in its Individual Capacity and Affiliates. With
respect to its respective Commitment and the Loans made by Rabobank, Rabobank shall have the same
rights and powers under the Loan Documents as any other Lender and may exercise the same as though
it were not an Agent; and the term “Lender” or “Lenders” shall, unless otherwise expressly
indicated, include Rabobank in its individual capacity. Rabobank and its respective Affiliates may
accept deposits from, lend money to, act as trustee under indentures of, accept investment banking
engagements from and generally engage in any kind of business with, any Loan Party, any of its
Subsidiaries and any Person who may do business with or own securities of any Loan Party or any
such Subsidiary, all as if Rabobank was not the Administrative Agent and without any duty to
account therefor to the Lenders.

          Section 9.4 Lender Credit Decision. Each Lender acknowledges that it has,
independently and without reliance upon the Administrative Agent or any other Lender and based on
the financial statements referred to in Section 3.1 and such other documents and
information as it has deemed appropriate, made its own independent credit analysis and decision to
enter into this Agreement. Each Lender also acknowledges that it will, independently and without
reliance upon the Administrative Agent or any other Lender and based on such documents and
information as it shall deem appropriate at the time, continue to make its own credit decisions in
taking or not taking action under this Agreement.

          Section 9.5 Notice of Default or Event of Default. In the event that the
Administrative Agent or any Lender shall acquire actual knowledge, or shall have been notified in
writing, of any Default or Event of Default, the Administrative Agent or such Lender shall promptly
notify the other Lenders, and the Administrative Agent shall take such action and assert such
rights under this Agreement as the Required Lenders shall request in writing, and the
Administrative Agent shall not be subject to any liability by reason of its acting pursuant to any
such request. If the Required Lenders shall fail to request the Administrative Agent to take
action or to assert rights under this Agreement in respect of any Event of Default within ten days
after their receipt of the notice of any Event of Default, or shall request inconsistent action
with respect to such Event of Default, the Administrative Agent may, but shall not be required to,
take such action and assert such rights (other than rights under Article 8) as it deems in
its discretion to be advisable for the protection of the Lenders, except that, if the Required
Lenders have

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instructed the Administrative Agent not to take such action or assert such right, in no event
shall the Administrative Agent act contrary to such instructions.

          Section 9.6 Indemnification. Each Lender severally agrees to indemnify each Agent (to
the extent not promptly reimbursed by the Borrowers) from and against such Lender’s ratable share
of any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits,
costs, expenses or disbursements (including without limitation fees and expenses of legal counsel,
experts, agents and consultants) of any kind or nature whatsoever that may be imposed on, incurred
by, or asserted against the Administrative Agent in any way relating to or arising out of the Loan
Documents or any action taken or omitted by the Administrative Agent under the Loan Documents;
provided that no Lender shall be liable for any portion of such liabilities, obligations, losses,
damages, penalties, actions, judgments, suits, costs, expenses or disbursements found in a final,
non-appealable judgment by a court of competent jurisdiction to have resulted from the
Administrative Agent’s gross negligence or willful misconduct. Without limitation of the
foregoing, each Lender agrees to reimburse each Agent promptly upon demand for its ratable share of
any costs and expenses payable by any Borrower under Section 10.4, to the extent that the
Administrative Agent is not promptly reimbursed for such costs and expenses by the Borrowers. For
purposes of this Section, the Lenders’ respective ratable shares of any amount shall be determined,
at any time, according to the sum of:

          (a) the aggregate principal amount of the Loans outstanding at such time and owing to the
respective Lenders;

          (b) their respective Pro Rata Shares of the aggregate Available Amount of all Letters of
Credit outstanding at such time; and

          (c) their respective Unused Commitments at such time.

          Section 9.7 Successor Administrative Agent. The Administrative Agent may resign at
any time by giving written notice thereof to the Lenders and the Borrowers. Upon any such
resignation, the Required Lenders shall have the right to appoint a successor Administrative Agent.
If no successor Administrative Agent shall have been so appointed by the Required Lenders, and
shall have accepted such appointment, within thirty (30) days after the retiring Administrative
Agent’s giving of notice of resignation, then the retiring Administrative Agent may, on behalf of
the Lenders, appoint a successor Administrative Agent, which shall be any Lender or a commercial
bank or other financial institution and having a combined capital and reserves in excess of U.S.
$500,000,000. The resignation of such retiring Administrative Agent shall be effective only upon
(i) the acceptance of any appointment as an Administrative Agent hereunder by a successor
Administrative Agent, and (ii) the execution of all documents and the taking of all other actions
reasonably necessary in the opinion of the successor Administrative Agent, in connection with such
substitution. Upon such effectiveness pursuant to the foregoing clauses (i) and (ii), such
successor Administrative Agent shall succeed to and become vested with all the rights, powers,
discretion, privileges and duties of the retiring Administrative Agent, and the retiring
Administrative Agent shall be discharged from its duties and obligations under the Loan Documents.
After any retiring Administrative Agent’s resignation or removal hereunder as an Administrative
Agent, the provisions of this Article 9 and Section 10.4 shall

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inure to its benefit as to any actions taken or omitted to be taken by it while it was an
Administrative Agent under this Agreement.

          Section 9.8 Administrative Agent May File Proofs of Claim. The Administrative Agent
may file such proofs of claim and other papers or documents as may be necessary or advisable in
order to have the claims of the Administrative Agent (including any claim for the reasonable
compensation, expenses, disbursements and advances of each Agent, its agents, financial advisors
and counsel), the Issuing Bank and the Lenders allowed in any judicial proceedings relative to any
Loan Party, or any of their respective creditors or property, and shall be entitled and empowered
to collect, receive and distribute any monies, securities or other property payable or deliverable
on any such claims and any custodian in any such judicial proceedings is hereby authorized by each
Lender to make such payments to the Administrative Agent and, in the event that the Administrative
Agent shall consent to the making of such payments directly to the Lenders, to pay to the
Administrative Agent any amount due to the Administrative Agent for the reasonable compensation,
expenses, disbursements and advances of the Administrative Agent, its agents, financial advisors
and counsel, and any other amounts due the Administrative Agent. Nothing contained in this
Agreement or the other Loan Documents shall be deemed to authorize the Administrative Agent to
authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization,
arrangement, adjustment or composition affecting the Obligations or the rights of any Lender with
respect thereto, or to authorize the Administrative Agent to vote in respect of the claim of any
Lender in any such Proceeding.

          Section 9.9 Documentation Agent and Syndication Agent. It is expressly acknowledged
and agreed by the Administrative Agent, the Documentation Agent, Syndication Agent, each Lender and
the Borrowers for the benefit of the Documentation Agent and Syndication Agent that the
Documentation Agent and the Syndication Agent, in such capacity, have no duties or obligations
whatsoever with respect to this Agreement or any other documents or any matter related thereto.

ARTICLE 10.

MISCELLANEOUS

          Section 10.1 Amendments, Etc. No amendment or waiver of any provision of this
Agreement or any other Loan Document, nor consent to any departure by any Borrower therefrom, shall
in any event be effective unless the same shall be in writing and signed by the Required Lenders,
and then such waiver or consent shall be effective only in the specific instance and for the
specific purpose for which given; provided that:

          (a) no amendment, waiver or consent shall, unless in writing and signed by all the Lenders
affected thereby, reduce the principal of, or the rate of interest specified herein on any Loan or
the rate of fees payable for the account of any Lender hereunder, or postpone any scheduled date
for any payment of principal, interest or fees due to any Lender;

          (b) no amendment, waiver or consent shall, unless in writing and signed by all of the Lenders
affected thereby and acknowledged by the Administrative Agent, increase (i) the amount of the
Commitment of any Lender, or (ii) any Lender’s Pro Rata Share;

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          (c) no amendment, waiver or consent shall, unless in writing and signed by all of the Lenders
and acknowledged by Administrative Agent, do any of the following at any time:

                    (i) waive any of the conditions specified in Section 3.2;

                    (ii) change the definition of “Required Lenders” hereunder;

                    (iii) amend this Section 10.1;

                    (iv) extend the Maturity Date; or

          (d) no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Bank
in addition to the Lenders required above to take such action, affect the rights or obligations of
the Swing Line Bank in such capacity under this Agreement;

          (e) no amendment, waiver or consent shall, unless in writing and signed by the Issuing Bank in
addition to the Lenders required above to take such action, affect the rights or obligations of
such Issuing Bank under this Agreement; and

          (f) no amendment, waiver or consent shall, unless in writing and signed by the Administrative
Agent, in addition to the Lenders required above to take such action, affect the rights or duties
of the Administrative Agent under this Agreement.

          In addition, anything in this Agreement to the contrary notwithstanding, if any Lender shall
fail to fulfill its obligations to make a Loan hereunder then, for so long as such failure shall
continue, such Lender shall (unless AGCO and the Required Lenders, determined as if such Lender
were not a “Lender” hereunder, shall otherwise consent in writing) be deemed for all purposes
relating to amendments, modifications, waivers or consents under this Agreement (including without
limitation under this Section 10.1) to have no Loans or Commitment, shall not be treated as
a “Lender” hereunder when performing the computation of Required Lenders, and shall have no rights
under this Section 10.1; provided that any action taken by the other Lenders with respect
to the matters referred to in clauses (a) or (e) of this Section 10.1 shall not be
effective as against such Lender.

          Section 10.2 Notices, Etc. All notices and other communications provided for
hereunder shall be in writing (including telecopy communication) and mailed, telecopied or
delivered,

          (a) if to AGCO or any Borrowing Subsidiary to AGCO at its address at 4205 River Green Parkway,
Duluth, Georgia 30096-2568, Attention:  General Counsel, Facsimile No. (770) 813-6158, with a copy
to the Chief Financial Officer at the same address and telecopier number;

          (b) if to any Lender, at its Domestic Lending Office specified on Schedule I to the Lender
Addendum with respect thereto or in the Assignment and Acceptance pursuant to which it became a
Lender;

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          (c) if to the Administrative Agent, at its address at 10 Exchange Place, Jersey City, New
Jersey 07302-3913, Attention: Loan Syndications/Sui Price, Facsimile No. (201) 499-5327; and

          or, as to each party, at such other address as shall be designated by such party in a written
notice to the other parties. All such notices and communications shall be effective five days
after deposit in the mail and when transmitted by telecopier, except that notices and
communications to an Agent pursuant to Articles 2, 3 or 9 shall not be
effective until received by the Administrative Agent.

          Section 10.3 No Waiver: Remedies. No failure on the part of any Lender or either
Agent to exercise, and no delay in exercising, any right hereunder or under any Loan Document shall
operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude
any other or further exercise thereof or the exercise of any other right. The remedies herein
provided are cumulative and not exclusive of any remedies provided by law.

          Section 10.4 Costs and Expenses.

          (a) AGCO agrees to pay on demand all costs and expenses of the Administrative Agent in
connection with the preparation, execution, delivery, administration, modification and amendment of
the Loan Documents at any time (including without limitation (A) all reasonable due diligence,
syndication, transportation, computer, duplication, IntraLinks, appraisal, audit, insurance and
consultant out-of-pocket fees and expenses and (B) the reasonable fees and expenses of counsel
(including without limitation New York, local and foreign counsel) for the Administrative Agent
with respect thereto, with respect to advising the Administrative Agent as to its respective rights
and responsibilities, or the protection or preservation of rights or interests, under the Loan
Documents, with respect to negotiations with any Loan Party or with other creditors of any Loan
Party or any of its Subsidiaries arising out of any Default or any events or circumstances that may
give rise to a Default and with respect to presenting claims in or otherwise participating in or
monitoring any bankruptcy, insolvency or other similar proceeding involving creditors’ rights
generally and any proceeding ancillary thereto).

          (b) AGCO further agrees to pay on demand all costs and expenses of each Agent, each Issuing
Bank and each Lender in connection with the enforcement of the Loan Documents against any Loan
Party, whether in any action, suit or litigation, any workout, bankruptcy, insolvency or other
similar proceeding affecting creditors’ rights generally or otherwise (including without limitation
the reasonable fees and expenses of counsel for each Agent and each Lender with respect thereto),
and each Borrowing Subsidiary severally agrees to pay on demand all such costs and expenses in
respect of any such enforcement relating to itself.

          (c) AGCO agrees to indemnify and hold harmless each Agent, each Issuing Bank and each Lender
and each of their Affiliates and their officers, directors, trustees, employees, agents and
advisors (each, an “Indemnified Party”) from and against any and all claims, damages,
losses, liabilities and expenses (including without limitation reasonable fees and expenses of
counsel) that may be incurred by or asserted or awarded against any Indemnified Party, in each case
arising out of or in connection with or by reason of, or in connection with the

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preparation for a defense of, any investigation, litigation or proceeding arising out of,
related to or in connection with:

                    (i) any acquisition or proposed acquisition;

                    (ii) the actual or alleged presence of Hazardous Materials on any property of any Loan Party
or any of its Subsidiaries or any Environmental Action relating in any way to any Loan Party or any
of its Subsidiaries; or

                    (iii) any financing hereunder;

          in each case whether or not such investigation, litigation or proceeding is brought by any
Loan Party, its directors, shareholders or creditors or an Indemnified Party or any Indemnified
Party is otherwise a party thereto and whether or not the transactions contemplated hereby are
consummated, except to the extent such claim, damage, loss, liability or expense is found in a
final, non-appealable judgment by a court of competent jurisdiction to have resulted from such
Indemnified Party’s gross negligence or willful misconduct. The Borrowers agree not to assert any
claim against the either Agent, any Issuing Bank, any Lender, any of their Affiliates, or any of
their respective directors, officers, employees, attorneys and agents, on any theory of liability,
for special, indirect, consequential or punitive damages arising out of or otherwise relating to
any of the transactions contemplated herein or in any other Loan Document or the actual or proposed
use of the proceeds of the Loans.

          (d) If any Loan Party fails to pay when due any costs, expenses or other amounts payable by it
under any Loan Document, including without limitation fees and expenses of counsel and indemnities,
such amount may be paid on behalf of such Loan Party by either Agent or any Lender, in its sole
discretion.

          Section 10.5 Right of Set-off. Upon (a) the occurrence and during the continuance of
any Event of Default and (b) the making of the request or the granting of the consent specified by
Section 8.2 to authorize the Administrative Agent to declare the Loans, all interest
thereon and all other amounts payable under this Agreement and the other Loan Documents due and
payable pursuant to the provisions of Section 8.2, each Lender and each of its Affiliates
is hereby authorized at any time and from time to time, to the fullest extent permitted by law and
subject to Section 2.10, to offset and otherwise apply any and all deposits (general or
special, time or demand, provisional or final) at any time held and other indebtedness at any time
owing by such Lender or such Affiliate to or for the credit or the account of a Borrower against
any and all of the Obligations of such Borrower now or hereafter existing under this Agreement,
irrespective of whether such Lender shall have made any demand under this Agreement and although
such obligations may be unmatured. Each Lender agrees promptly to notify such Borrower after any
such set-off and application; provided that the failure to give such notice shall not affect the
validity of such set-off and application. The rights of each Lender and its Affiliates under this
Section are in addition to other rights and remedies (including without limitation other rights of
set-off) that such Lender and its Affiliates may have.

          Section 10.6 Binding Effect. This Agreement shall become effective when it shall have
been executed by the Borrowers and the Administrative Agent and when the

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Administrative Agent shall have been notified by each Lender that such Lender has executed it
and thereafter shall be binding upon and inure to the benefit of the Borrowers, the Administrative
Agent, the Issuing Bank and each Lender and their respective successors and assigns, except that no
Borrower shall have the right to assign its rights hereunder or any interest herein without the
prior written consent of each Lender. Section 12.5 shall also inure to the benefit of each
Subsidiary of AGCO referred to therein.

          Section 10.7 Assignments and Participations.

          (a) Each Lender and the Issuing Bank may, with the prior consent of the Administrative Agent,
assign to one or more banks or other entities all or a portion of its rights and obligations under
this Agreement (including without limitation all or a portion of its Commitment, and the Loans
owing to it), and the Issuing Bank may assign its Letter of Credit Commitment; provided that:

                    (i) any such assignment by an Issuing Bank of its Letter of Credit Commitment shall be of its
entire Letter of Credit Commitment;

                    (ii) in the case of each such assignment of a Commitment (except in the case of an assignment
to a Person that, immediately prior to such assignment, was a Lender or an assignment of all of a
Lender’s rights and obligations under this Agreement), (A) the amount of the Commitment of the
assigning Lender being assigned pursuant to such assignment (determined as of the date of the
Assignment and Acceptance with respect to such assignment) shall in no event be less than U.S.
$5,000,000 and shall be an integral multiple of U.S. $500,000 in excess thereof, and (B) the
assignor shall simultaneously assign to the assignee a ratable share of (1) all participations in
Letters of Credit issued for the account of Borrowers and then outstanding, and (2) all Letter of
Credit Advances then owing to such Lender as a result of draws on Letters of Credit issued for the
account of Borrowers;

                    (iii) such assignment shall be to an Eligible Assignee; and

                    (iv) the proposed assignment (if other than an assignment by a Lender to an Affiliate or
Approved Fund of such Lender) shall be approved by (x) the Administrative Agent, and (y) if no
Default then exists, AGCO; the foregoing approvals in each case not to be unreasonably withheld or
delayed; and

                    (v) the parties to each such assignment shall execute and deliver to the Administrative Agent
for its own account, for its acceptance and recording in the Register, an Assignment and
Acceptance, together with a processing and recordation fee of U.S. $3,500, payable by the assignee
to the Administrative Agent (with only one such fee payable in connection with contemporaneous
assignments pursuant to the same Assignment and Acceptance to or by two or more Approved Funds of a
single Lender).

          (b) Upon such execution, delivery, acceptance and recording, from and after the effective date
specified in such Assignment and Acceptance:

                    (i) the assignee thereunder shall be a party hereto and, to the extent that rights and
obligations hereunder or under any other Loan Document have been

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assigned to it pursuant to such Assignment and Acceptance, shall have the rights and
obligations of a Lender hereunder; and

                    (ii) the Lender assignor thereunder shall, to the extent that rights and obligations hereunder
have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be
released from its obligations under this Agreement and under each other Loan Document (and, in the
case of an Assignment and Acceptance covering all or the remaining portion of an assigning Lender’s
rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

          (c) By executing and delivering an Assignment and Acceptance, the Lender assignor thereunder
and the assignee thereunder confirm to and agree with each other and the other parties hereto as
follows:

                    (i) other than as provided in such Assignment and Acceptance, such assigning Lender makes no
representation or warranty and assumes no responsibility with respect to any statements, warranties
or representations made in or in connection with this Agreement or the execution, legality,
validity, enforceability, genuineness, sufficiency or value of this Agreement or any other
instrument or document furnished pursuant hereto;

                    (ii) such assigning Lender makes no representation or warranty and assumes no responsibility
with respect to the financial condition of any Borrower or the performance or observance by any
Borrower of any of its obligations under this Agreement or any other instrument or document
furnished pursuant hereto;

                    (iii) such assignee confirms that it has received a copy of this Agreement, together with
copies of the financial statements referred to in Sections 3.1 and 3.2 and such
other documents and information as it has deemed appropriate to make its own credit analysis and
decision to enter into such Assignment and Acceptance;

                    (iv) such assignee will, independently and without reliance upon either Agent, such assigning
Lender or any other Lender and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit decisions in taking or not taking action under this
Agreement;

                    (v) such assignee confirms that it is an Eligible Assignee or an Affiliate of the assignor;

                    (vi) such assignee appoints and authorizes the Administrative Agent to take such action as
agent on its behalf and to exercise such powers and discretion under this Agreement as are
delegated to the Administrative Agent by the terms hereof, together with such powers and discretion
as are reasonably incidental thereto;

                    (vii) such assignee agrees that it will perform in accordance with their terms all of the
obligations that by the terms of this Agreement are required to be performed by it as a Lender; and

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                    (viii) that the benefit of the security interests and guarantees attached to the rights being
assigned shall be transferred to the benefit of the assignee upon the completion of such
assignment.

          (d) The Administrative Agent shall maintain at its address referred to in Section 10.2
a copy of each Assignment and Acceptance delivered to and accepted by it and a register for the
recordation of the names and addresses of the Issuing Bank and the Lenders and their respective
Commitment under each Facility of, the principal amount of the Loans owing under each Facility to
each Lender from time to time (the “Register”). The entries in the Register shall be
conclusive and binding for all purposes, absent manifest error, and the Borrowers, the
Administrative Agent, the Issuing Bank and the Lenders may treat each Person whose name is recorded
in the Register as a Lender hereunder for all purposes of this Agreement. The Register shall be
available for inspection by any Borrower, Issuing Bank or any Lender at any reasonable time and
from time to time upon reasonable prior notice.

          (e) Upon its receipt of an Assignment and Acceptance executed by an assigning Lender and an
assignee, the Administrative Agent shall, if such Assignment and Acceptance has been completed and
is in substantially the form of Exhibit A hereto:

                    (i) record the information contained therein in the Register; and

                    (ii) give prompt notice thereof to the Borrowers.

          (f) Each Lender may sell participations in or to all or a portion of its rights and
obligations under this Agreement (including without limitation all or a portion of its Commitment
and the Loans owing to it) to a financial institution (a “Participant”); provided that;

                    (i) such Lender’s obligations under this Agreement (including without limitation its
Commitment) shall remain unchanged;

                    (ii) such Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations;

                    (iii) the Borrowers, the Administrative Agent and the other Lenders shall continue to deal
solely and directly with such Lender in connection with such Lender’s rights and obligations under
this Agreement; and

                    (iv) no Participant under any such participation shall have any right to approve any amendment
or waiver of any provision of any Loan Document, or any consent to any departure by any Loan Party
therefrom, except to the extent that such amendment, waiver or consent would reduce or forgive any
principal due hereunder, or reduce the rate of interest or any fees payable hereunder, in each case
to the extent subject to such participation, postpone any scheduled date for any payment of
interest or fees hereunder or extend the Maturity Date, in each case to the extent subject to such
participation, except in accordance with the terms hereof or of any other Loan Document; and

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                    (v) no Participant under any such participation shall have any greater benefits or rights than
such Lender with respect to fees or yield maintenance provisions of this Agreement.

          (g) Any Lender may, in connection with any assignment or participation or proposed assignment
or participation pursuant to this Section 10.7, disclose to the assignee or Participant or
proposed assignee or Participant, any public information relating to any Borrower furnished to such
Lender by or on behalf of such Borrower and any information conspicuously labeled by a Borrower as
being confidential at the time such information is furnished to such Lender if such assignee or
Participant or proposed assignee or Participant has agreed to use reasonable efforts to keep such
information confidential.

          (h) Notwithstanding any other provision set forth in this Agreement, any Lender may at any
time create a security interest in all or any portion of its rights under this Agreement (including
without limitation the Loans owing to it) in favor of any Federal Reserve Bank in accordance with
Regulation A of the Board of Governors of the Federal Reserve System and any Lender that is a fund
may pledge all or any portion of its rights under this Agreement (including without limitation the
Loans owing to it) to its trustee in support of its obligations to its trustee.

          Section 10.8 Marshalling; Payments Set Aside. Neither the Administrative Agent, any
Lender nor any Issuing Bank shall be under any obligation to marshal any assets in favor of the
Borrowers or any other party or against or in payment of any or all of the Obligations. To the
extent that a Borrower makes a payment or payments to the Administrative Agent, the Lenders or the
Issuing Bank or any of such Persons exercise their rights of setoff, and such payment or payments
or the proceeds of such enforcement or setoff or any part thereof are subsequently invalidated,
declared to be fraudulent or preferential, set aside or required to be repaid to a trustee,
receiver or any other party, then to the extent of such recovery, the obligation or part thereof
originally intended to be satisfied, and all Liens, right and remedies therefor, shall be revived
and continued in full force and effect as if such payment had not been made or such enforcement or
setoff had not occurred.

          Section 10.9 Delivery of Lender Addenda. Each initial Lender shall become a party to
this Agreement on the Agreement Date by delivering to the Administrative Agent a Lender Addendum
duly executed by such Lender, AGCO, on behalf of itself and the other Borrowers, and the
Administrative Agent.

          Section 10.10 Contribution Among Guarantors.

          (a) Each Guarantor shall be entitled to subrogation, contribution and reimbursement rights
from and against the other Guarantors to the extent any Guarantor is required to pay to the
Administrative Agent, the Lenders or the Issuing Bank any amount in excess of the Allocable Amount
(as defined in the Contribution Agreement) of such Guarantor, as more fully set forth in the
Contribution Agreement; provided, however, that such subrogation and contribution
rights are and shall be subject to the terms and conditions of paragraph (b) below.

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          (b) No Guarantor will exercise any such rights that it may acquire by way of subrogation under
any other Loan Document or at law by any payment made under its Guaranty Agreement or otherwise,
nor shall any Guarantor seek or be entitled to seek any contribution or reimbursement from any
other Guarantor in respect of payments made by such Guarantor under its Guaranty Agreement or under
any other Loan Document, until all Obligations are paid in full in cash and the Commitments are
terminated. If any amounts shall be paid to any Guarantor on account of such subrogation or
contribution rights at any time when all of the Obligations shall not have been paid in full, such
amount shall be held by such Guarantor in trust for the Administrative Agent, the Issuing Bank and
the Lenders, segregated from other funds of such Guarantor, and shall, forthwith upon receipt by
such Guarantor, be turned over to the Administrative Agent in the exact form received by such
Guarantor (duly endorsed by such Guarantor to the Administrative Agent, if required), to be applied
against the Obligations, whether matured or unmatured, as provided for herein.

          Section 10.11 Patriot Act. Each Lender hereby notifies each Borrower that pursuant to
the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)), it is required to obtain, verify and record information that identifies each Borrower and
the other Loan Parties, which information includes the name and address of each Borrower and the
other Loan Parties and other information that will allow such Lender to identify each Borrower and
the other Loan Parties in accordance with the USA Patriot Act.

ARTICLE 11.

INCREASED COSTS, TAXES, ETC.

          Section 11.1 Increased Costs, Etc.

          (a) If, due to either (i) the introduction of or any change in or in the interpretation of any
law or regulation or (ii) the compliance with any guideline or request from any central bank or
other Governmental Authority (whether or not having the force of law) made, or effective, after the
Agreement Date, there shall be any increase in the cost to any Lender or either Issuing Bank of
agreeing to make or of making, funding or maintaining LIBO Rate Loans or of agreeing to issue or of
issuing, maintaining or participating in Letters of Credit or of agreeing to make or of making or
maintaining Letter of Credit Advances, in any case to or for the account of any Borrower, then such
Borrower shall from time to time, upon demand by such Lender or Issuing Bank pay to the
Administrative Agent, for the account of such Lender or such Issuing Bank additional amounts
sufficient to compensate such Lender or such Issuing Bank for such increased cost. A certificate
as to the amount of such increased cost and stating that such Lender’s or Issuing Bank’s request
for payment is consistent with such Lender’s or Issuing Bank’s internal policies, submitted to such
Borrower by such Lender or such Issuing Bank, shall be conclusive and binding for all purposes,
absent manifest error.

          (b) If any Lender or either Issuing Bank determines that compliance with any law or regulation
or any guideline or request from any central bank or other governmental authority (whether or not
having the force of law), which in any such case is adopted, issued, made or effective after the
Agreement Date, affects or would affect the amount of capital required or expected to be maintained
by such Lender or such Issuing Bank or any corporation controlling such Lender or such Issuing Bank
and that the amount of such capital is increased by

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or based upon the existence of such Lender’s commitment to lend or participate in Letters of
Credit or, in the case of an Issuing Bank, to issue Letters of Credit, hereunder and other
commitments of such type or the issuance or maintenance of the Letters of Credit (or similar
contingent obligations), in any case to or for the account of any Borrower, then, upon demand by
such Lender or such Issuing Bank such Borrower shall pay to the Administrative Agent, for the
account of such Lender or such Issuing Bank, from time to time as specified by such Lender or such
Issuing Bank, additional amounts sufficient to compensate such Lender or such Issuing Bank in the
light of such circumstances, to the extent that such Lender or such Issuing Bank reasonably
determines such increase in capital to be allocable to the existence of such Lender’s commitment to
lend or such Issuing Bank’s commitment to issue or maintain of any Letters of Credit. A
certificate as to such amounts and stating that such Lender’s or such Issuing Bank’s request for
payment is consistent with such Lender’s or such Issuing Bank’s internal policies, submitted to
such Borrower by such Lender or such Issuing Bank, shall be conclusive and binding for all
purposes, absent manifest error.

          (c) If, with respect to any LIBO Rate Loans in U.S. Dollars or any Offshore Currency, Lenders
owed more than fifty percent (50%) of the then outstanding aggregate unpaid principal amount
thereof notify the Administrative Agent that the LIBO Rate for any Interest Period for such Loans
in U.S. Dollars or any Offshore Currency will not adequately reflect the cost to such Lenders of
making, funding or maintaining their LIBO Rate Loans for such Interest Period, the Administrative
Agent shall forthwith so notify the affected Borrower and the Lenders, whereupon:

                    (i) if U.S. Dollars are the affected currency, each such LIBO Rate Loan denominated in U.S.
Dollars will automatically, on the last day of the then existing Interest Period therefor, Convert
into a Base Rate Loan;

                    (ii) if an Offshore Currency is the affected currency, the affected Borrower shall, on the
last day of the then existing Interest Period, prepay in full such LIBO Rate Loans in the affected
currency; and

                    (iii) the obligation of the Lenders to make such LIBO Rate Loans in the affected currency
shall be suspended,

          until the Administrative Agent shall notify the affected Borrowers that such Lenders have
determined that the circumstances causing such suspension no longer exist.

          (d) Notwithstanding any other provision of this Agreement, if the introduction of or any
change in or in the interpretation of any law or regulation shall make it unlawful, or any central
bank or other governmental authority shall assert that it is unlawful, for any Lender or its LIBOR
Lending Office to perform its obligations hereunder to make LIBO Rate Loans in U.S. Dollars or any
Offshore Currency or to continue to fund or maintain such LIBO Rate Loans hereunder, then, on
notice thereof and demand therefor by such Lender to the Borrowers through the Administrative
Agent:

                    (i) the obligation of the Lenders to make LIBO Rate Loans in the affected currency shall be
suspended;

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                    (ii) the affected Borrower shall, on the earlier of the last day of the then existing Interest
Period and such date as may be required by law, prepay in full all Revolving Loans in any such
Offshore Currency other than Canadian Dollars; and

                    (iii) each LIBO Rate Loan denominated in U.S. Dollars or Canadian Dollars will automatically,
upon such demand, Convert into a Base Rate Loan, until the Administrative Agent shall notify the
affected Borrowers that such Lender has determined that the circumstances causing such suspension
no longer exist.

          (e) During the continuance of any Event of Default, and upon the election of the Required
Lenders and during the continuance of any Default:

                    (i) each LIBO Rate Loan denominated in U.S. Dollars or Canadian Dollars will automatically, on
the last day of the then-existing Interest Period therefor, Convert into a Base Rate Loan;

                    (ii) the Borrowers will, on the last day of the then-existing Interest Period therefor, prepay
each LIBO Rate Loan in an Offshore Currency other than Canadian Dollars; and

                    (iii) the obligation of the Lenders to make LIBO Rate Loans shall be suspended.

          (f) Each Lender shall notify AGCO of any event occurring after the date of this Agreement
entitling such Lender to compensation under subsection (a) or (b) of this Section within one
hundred eighty (180) days, after such Lender obtains actual knowledge thereof; provided that:

                    (i) if any Lender fails to give such notice within one hundred eighty (180) days after it
obtains actual knowledge of such an event, such Lender shall, with respect to compensation payable
pursuant to such subsection (a) or (b) in respect of any costs resulting from such event, only be
entitled to payment under such subsection (a) or (b) for costs incurred from and after the date one
hundred eighty (180) days prior to the date that such Lender gives such notice; and

                    (ii) each Lender will designate a different Applicable Lending Office for the Loans of such
Lender affected by such event if such designation will avoid the need for, or reduce the amount of,
such compensation and will not, in the sole opinion of such Lender, be disadvantageous to such
Lender or contrary to its policies.

          Section 11.2 LIBO Breakage Costs. If any prepayment or payment (or failure to prepay
after the delivery of a notice of prepayment) of principal of, or Conversion of, any LIBO Rate Loan
is made by any Borrower to or for the account of a Lender other than on the last day of the
Interest Period for such Loan, as a result of a payment or Conversion, acceleration of the maturity
of any of the Obligations pursuant to Section 8.2 or for any other reason, or by an
Eligible Assignee to a Lender other than on the last day of the Interest Period for such Loan upon
an assignment of rights and obligations under this Agreement pursuant to Section 10.7, such
Borrower shall, upon demand by such Lender (with a copy of such demand to the Administrative

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Agent), pay to the Administrative Agent for the account of such Lender any amounts required to
compensate such Lender for all losses, costs or expenses that such Lender may reasonably incur as a
result of such failure, including without limitation foreign exchange losses, based on customary
funding and foreign exchange hedging arrangements, whether or not such arrangements actually occur,
and any and all other losses, costs or expenses incurred by reason of the liquidation or
reemployment of deposits or other funds acquired by such Lender to fund or maintain any Borrowing
and the unavailability of funds as a result of such Borrower failing to prepay any amount when
specified in a notice of prepayment or otherwise when due, but excluding loss of anticipated
profits.

          Section 11.3 Judgment Currency.

          (a) If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum
due hereunder in any currency (the “Original Currency”) into another currency (the
“Other Currency”) the parties hereto agree, to the fullest extent that they may effectively
do so, that the rate of exchange used shall be that at which in accordance with normal banking
procedures the Administrative Agent could purchase the Original Currency with the Other Currency at
11:00 A.M. (New York, New York time) on the second Business Day preceding that on which final
judgment is given.

          (b) The obligation of a Borrower in respect of any sum due in the Original Currency from it to
any Lender or the Administrative Agent hereunder shall, notwithstanding any judgment in any Other
Currency, be discharged only to the extent that on the Business Day following receipt by such
Lender or the Administrative Agent (as the case may be) of any sum adjudged to be so due in such
Other Currency such Lender or the Administrative Agent (as the case may be) may in accordance with
normal banking procedures purchase the Original Currency with such Other Currency; if the amount of
the Original Currency so purchased is less than the sum originally due to such Lender or the
Administrative Agent (as the case may be) in the Original Currency, such Borrower agrees, as a
separate obligation and notwithstanding any such judgment, to indemnify such Lender or the
Administrative Agent (as the case may be) against such loss, and if the amount of the Original
Currency so purchased exceeds the sum originally due to any Lender or the Administrative Agent (as
the case may be) in the Original Currency, such Lender or the Administrative Agent (as the case may
be) agrees to remit to such Borrower such excess.

          Section 11.4 Taxes.

          (a) Any and all payments by the Borrowers hereunder shall be made, in accordance with
Section 2.9, free and clear of and without deduction for any and all present or future
taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect
thereto of or by any governmental authorities, excluding, in the case of each Lender and the
Administrative Agent, franchise taxes and taxes imposed or calculated by reference to net income
that are imposed on such Lender, or the Administrative Agent by the state or foreign jurisdiction
under the laws of which such Lender or the Administrative Agent (as the case may be) is organized
or any political subdivision thereof (including the country within which such state or jurisdiction
is located) and, in the case of each Lender, franchise taxes and taxes imposed or calculated by
reference to net income that are imposed on such Lender by the state or province

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of such Lender’s Applicable Lending Office or any political subdivision thereof (all such
non-excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities being
hereinafter referred to as “Taxes”). If the Borrowers shall be required by law to deduct
any Taxes from or in respect of any sum payable hereunder to the Administrative Agent, (i) the sum
payable shall be increased as may be necessary so that after making all required deductions
(including deductions applicable to additional sums payable under this Section) such Lender or the
Administrative Agent (as the case may be) receives an amount equal to the sum it would have
received had no such deductions been made, (ii) the Borrowers shall make such deductions and (iii)
the Borrowers shall pay the full amount deducted to the relevant taxation authority or other
authority in accordance with applicable law.

          (b) In addition, the Borrowers shall pay any present or future stamp, documentary, excise,
property or similar taxes, charges or levies that arise from any payment made hereunder or from the
execution, delivery or registration of, or otherwise with respect to, this Agreement (hereinafter
referred to as “Other Taxes”).

          (c) The Borrowers shall indemnify each Lender and the Administrative Agent for the full amount
of Taxes and Other Taxes, and for the full amount of taxes imposed by any jurisdiction on amounts
payable under this Section, paid by or imposed on such Lender or the Administrative Agent (as the
case may be), including without limitation any liability (including penalties, additions to tax,
interest and expenses) arising therefrom or with respect thereto. This indemnification shall be
made within thirty (30) days from the date such Lender or the Administrative Agent (as the case may
be) makes written demand therefor, and delivers to AGCO with a certificate describing in reasonable
detail the manner in which the indemnified amount was calculated; provided that a Lender or the
Administrative Agent shall not be required to describe in such certificate information that such
Lender or the Administrative Agent deems to be confidential or the disclosure of which is
inconsistent with such Lender’s or the Administrative Agent’s internal policies. Any such
calculation shall be conclusive, absent manifest error.

          (d) Within thirty (30) days after the date of any payment of Taxes, the Borrowers shall
furnish to the Administrative Agent at its address referred to in Section 10.2, the
original receipt of payment thereof or a certified copy of such receipt. In the case of any
payment hereunder by the Borrowers through an account or branch outside the United States or on
behalf of the Borrowers by a payor that is not a United States person, if the Borrowers determine
that no Taxes are payable in respect thereof, the Borrowers shall furnish, or shall cause such
payor to furnish, to the Administrative Agent, at such address, an opinion of counsel reasonably
satisfactory to the Administrative Agent stating that such payment is exempt from Taxes. For
purposes of this subsection (d) and subsection (e), the terms “United States” and “United States
person” shall have the meanings specified in Section 7701 of the Internal Revenue Code.

          (e) Each Lender organized under the laws of a jurisdiction outside the United States and each
Lender organized under the laws of a jurisdiction outside the country of the applicable Borrower,
in each other case, shall, on or prior to the date of its execution and delivery of this Agreement
in the case of each initial Lender hereunder, and on the date of the Assignment and Acceptance
pursuant to which it became a Lender in the case of each other

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Lender, and from time to time thereafter if requested in writing by a Borrower or the
Administrative Agent (but only so long thereafter as such Lender remains lawfully able to do so),
provide the Administrative Agent and such Borrower with (i) in the case of a Lender, (w) if such
Lender claims an exemption from withholding tax pursuant to its portfolio interest exception, (A) a
statement of the Lender, signed under penalty of perjury, that it is not (I) a “bank” as described
in Section 881(c)(3)(A) of the Internal Revenue Code, (II) a ten percent (10%) shareholder of any
Borrower (within the meaning of Section 871(h)(3)(B) of the Internal Revenue Code), or (III) a
controlled foreign corporation related to any Borrower within the meaning of Section 864(d)(4) of
the Internal Revenue Code, and (B) a properly completed and executed IRS Form W-8BEN, (x) if such
Lender claims an exemption from, or a reduction of, withholding tax under a United States tax
treaty, properly completed and executed IRS Form W-8BEN; (y) if such Lender claims that interest
paid under this Agreement is exempt from United States withholding tax because it is effectively
connected with a United States trade or business of such Lender, a properly completed and executed
copy of IRS Form W-8ECI; and (z) such other form or forms as may be required under the Internal
Revenue Code or other laws of the United States as a condition to exemption from, or reduction of,
United States withholding tax, and (ii) in the case of any Lender organized under the laws of a
jurisdiction outside the country within which an applicable Borrower is organized, such valid and
fully completed forms, as are required by the applicable tax authority of such jurisdiction,
indicating that such Lender is entitled to benefits under an income tax treaty to which the country
within which such Borrower is resident is a party that reduces the rate of interest-withholding tax
on payments under this Agreement. If the appropriate forms provided by a Lender at the time such
Lender first becomes a party to this Agreement indicates an interest-withholding tax rate in excess
of zero, withholding tax at such rate shall be considered excluded from Taxes unless and until such
Lender provides the appropriate form certifying that a lesser rate applies, whereupon withholding
tax at such lesser rate only shall be considered excluded from Taxes for periods governed by such
form; provided that, if at the date of the Assignment and Acceptance pursuant to which a Lender
assignee becomes a party to this Agreement, the Lender assignor was entitled to payments under
subsection (a) in respect of United States (or the jurisdiction wherein the applicable Borrower is
organized) withholding tax with respect to interest paid at such date by a Borrower, then, to such
extent, the term Taxes shall include (in addition to withholding taxes that may be imposed in the
future or other amounts otherwise includible in Taxes) withholding tax, if any, applicable with
respect to the Lender assignee on such date. If any form or document referred to in this
subsection (e) requires the disclosure of information, other than information necessary to compute
the tax payable and information required on the Agreement Date by Internal Revenue Service form
W-8ECI or W-8BEN or other form that the applicable Borrower has indicated in writing to the Lenders
on the Agreement Date as being a required form to avoid or reduce withholding tax on payments under
this Agreement, that a Lender reasonably considers to be confidential, such Lender shall give
notice thereof to the Borrowers and shall not be obligated to include in such form or document such
confidential information.

          (f) If any Lender claims exemption from, or reduction of, withholding tax pursuant to
subsection (e), and such Lender sells, assigns, grants a participation in, or otherwise transfers
all or part of the Obligations of Borrowers to such Lender, such Lender agrees to notify the
Administrative Agent of the percentage amount in which it is no longer the beneficial owner of
Obligations of Borrowers to such Lender. To the extent of such percentage amount, the
Administrative Agent will treat such Lender’s documentation as no longer valid. If any Lender is

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entitled to a reduction in the applicable withholding tax, the Administrative Agent may
withhold from any interest payment to such Lender in an amount equivalent to the applicable
withholding tax after taking into account such reduction. If the forms or other documentation
required by subsection (e) of this Section are not delivered to the Administrative Agent, then the
Administrative Agent may withhold from any interest payment to such Lender not providing such forms
or other documentation an amount equivalent to the applicable withholding tax. If the Internal
Revenue Service or any other Governmental Authority of the United States or other jurisdiction
asserts a claim that the Administrative Agent did not properly withhold tax from amounts paid to or
for the account of any Lender (because the appropriate form was not delivered, was not properly
executed, or because such Lender failed to notify the Administrative Agent of a change in
circumstances which rendered the exemption from, or reduction of, withholding tax ineffective, or
for any other reason) such Lender shall indemnify and hold the Administrative Agent harmless for
all amounts paid, directly or indirectly, by the Administrative Agent as tax or otherwise,
including penalties and interest, and including any taxes imposed by any jurisdiction on the
amounts payable to the Administrative Agent under this Section, together with all costs and
expenses (including attorneys fees and expenses). The obligation of the Lenders under this
subsection shall survive the payment of all Obligations and the resignation or replacement of the
Administrative Agent.

          (g) For any period with respect to which a Lender has failed to provide the Borrowers with the
appropriate form described in subsection (e) (other than if such failure is due to
a change in law occurring after the date on which a form originally was required to be provided or
if such form otherwise is not required under subsection (e)), such Lender shall not be entitled to
an additional payment or indemnification under subsection (a) or (c) with respect to Taxes imposed
by the United States; provided that should a Lender become subject to Taxes because of its failure
to deliver a form required hereunder, the Borrowers shall take such steps as such Lender shall
reasonably request to assist such Lender to recover such Taxes.

          (h) If a Borrower makes a payment under subsection (a) or (c) of this Section 11.4 and
the Administrative Agent or Lender determines that a credit against, relief or remission for, or
repayment of any tax, is attributable to that payment or to the Taxes which gave rise to that
payment (a “Tax Credit”), and the Administrative Agent or Lender has obtained, utilized and
retained that Tax Credit, the Administrative Agent or Lender shall pay the amount of the Tax Credit
to the Borrowers up to such amount as the Administrative Agent or Lender determines will leave it
(after that payment) in no better and no worse after-tax position as it would have been in had the
payment under subsection (a) or (c) not been made by the Borrowers.

          (i) Without prejudice to the survival of any other agreement of the Borrowers hereunder, the
agreements and obligations of the Borrowers contained in this Section 11.4 shall survive
the payment in full of principal and interest hereunder.

     Section 11.5 Replacement of a Lender. Subject to the second and third paragraphs of
this Section 11.5, if:

          (a) a Lender requests compensation under Section 11.1 or 11.4 and other
Lenders holding Commitments equal to at least one-third of the Revolving Loan Facility shall not
have made a similar request;

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          (b) the obligation of a Lender to make LIBO Rate Loans or to Convert Base Rate Loans into LIBO
Rate Loans shall be suspended pursuant to Section 11.1(c) or (d) in circumstances
in which such obligations of other Lenders holding Commitments equal to at least one third of all
Commitments shall not have been suspended;

          (c) a Lender becomes insolvent, goes into receivership or fails to make any Loans required to
be made by it hereunder; or

     (d) any Lender that is not the Administrative Agent or an Affiliate of the Administrative
Agent does not consent to any amendment, waiver or consent to any Loan Document for which the
consent of the Required Lenders is obtained but that requires the consent of all the Lenders,

     then the Administrative Agent (i) may replace such Lender (the “Affected Lender”), or
cause such Affected Lender to be replaced, or (ii) upon the written request of AGCO, the
Administrative Agent shall replace such Affected Lender with an Eligible Assignee identified by the
Borrower (the “Replacement Lender”), by having such Affected Lender sell and assign all of
its rights and obligations under this Agreement and the other Loan Documents (including for
purposes of this Section, participations in Letters of Credit, Letter of Credit Advances and in
Swing Line Loans) to the Replacement Lender pursuant to Section 10.7; provided,
however, that neither the Administrative Agent nor any Lender shall have any obligation to
identify or locate a Replacement Lender for the Borrowers (it being expressly agreed that in such
circumstances it AGCO’s obligation to identify or locate a Replacement Lender). Upon receipt by
any Affected Lender of a written notice from the Administrative Agent stating that the
Administrative Agent or AGCO is exercising the replacement right set forth in this Section, such
Affected Lender shall sell and assign all of its rights and obligations under this Agreement and
the other Loan Documents (including for purposes of this Section, participations in Letters of
Credit, Letter of Credit Advances and in Swing Line Loans) to the Replacement Lender pursuant to an
Assignment and Acceptance and Section 10.7 for a purchase price equal to the sum of the
principal amount of such Affected Lender’s Loans so sold and assigned, all accrued and unpaid
interest thereon and its ratable share of all fees to which it is entitled through the assignment
date. then, so long as such condition occurs and is continuing with respect to any Lender (a
“Replaced Lender”), AGCO may designate a Person (a “Replacement Lender”) that is an
Eligible Assignee (and acceptable to the Administrative Agent) to assume such Replaced Lender’s
Commitment hereunder and to purchase any Loans by such Replaced Lender and such Replaced Lender’s
rights hereunder, without recourse to or representation or warranty by, or expense to, such
Replaced Lender, for a purchase price equal to the outstanding principal amount of the Loans by
such Replaced Lender, plus any accrued but unpaid interest on such Loans and accrued but unpaid
fees and other amounts owing to such Replaced Lender.

     Subject to the execution and delivery to the Administrative Agent and the Affected Lender by
the Replacement Lender of an Assignment and Acceptance (and the approval thereof by the applicable
Persons specified in Section 10.7(a)(iv)) and the payment to the Administrative Agent by
AGCO on behalf of such Affected Lender of the assignment fee specified in Section
10.7(a)(v), the Replacement Lender shall succeed to the rights and obligations of such Affected
Replaced Lender hereunder and such Affected Replaced Lender shall no longer be a party hereto or
have any rights hereunder; provided that the obligations of the Borrowers to such Affected

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Lender under Sections 11.1, 11.2, 11.3 and 11.4 with respect
to events occurring or obligations arising before or as a result of such replacement shall survive
such replacement.

     AGCO may not exercise its rights under this Section with respect to any Lender if a Default
has occurred and is continuing.

ARTICLE 12.

JURISDICTION

          Section 12.1 Consent to Jurisdiction. Each Borrower irrevocably:

          (a) submits to the jurisdiction of any New York State or Federal court sitting in New York
City and any appellate court from any thereof in any action or proceeding arising out of or
relating to any Loan Document;

          (b) agrees that all claims in respect of such action or proceeding may be heard and determined
in such New York State or in such Federal court;

          (c) waives, to the fullest extent that it may effectively do so, the defense of an
inconvenient forum to the maintenance of such action or proceeding;

          (d) consents to the service of any and all process in any such action or proceeding by the
mailing of copies of such process to such Borrower at its address specified in Section
10.2; and

          (e) 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 Section shall affect the right of either Agent or any Lender to serve legal
process in any other manner permitted by law or affect the right of either Agent or any Lender to
bring any action or proceeding against any Borrower or its property in the courts of other
jurisdictions.

          Each Borrower irrevocably appoints and designates AGCO as its agent for service of process
and, without limitation of any other method of service, consents to service of process by mail at
the address of AGCO for delivery of notices specified in Section 10.2.

          Section 12.2 Governing Law. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of New York, without regard to the conflicts of law
principles thereof insofar as such principles would defer to the substantive laws of some other
jurisdiction.

          Section 12.3 Execution in Counterparts. This Agreement may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall constitute one and
the same agreement. Delivery of an executed counterpart of a signature page

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to this Agreement by telecopier or other electronic transmission shall be effective as
delivery of a manually executed counterpart of this Agreement.

          Section 12.4 No Liability of the Issuing Bank. Each Borrower assumes all risks of the
acts or omissions of any beneficiary or transferee of any Letter of Credit with respect to its use
of such Letter of Credit. Neither Issuing Bank nor any of its officers or directors shall be
liable or responsible for:

          (a) the use that may be made of any Letter of Credit or any acts or omissions of any
beneficiary or transferee in connection therewith;

          (b) the validity, sufficiency or genuineness of documents, or of any endorsement thereon, even
if such documents should prove to be in any or all respects invalid, insufficient, fraudulent or
forged;

          (c) payment by such Issuing Bank against presentation of documents that do not comply with the
terms of a Letter of Credit, including failure of any documents to bear any reference or adequate
reference to the Letter of Credit; or

          (d) any other circumstances whatsoever in making or failing to make payment under any Letter
of Credit;

          (e) except that no Borrower shall have a claim against such Issuing Bank, and such
Issuing Bank shall be liable to a Borrower, to the extent of any direct, but not consequential,
damages suffered by such Borrower that such Borrower proves were caused by:

                    (i) such Issuing Bank’s willful misconduct or gross negligence in determining whether
documents presented under any Letter of Credit comply with the terms of the Letter of Credit; or

                    (ii) such Issuing Bank’s willful failure to make lawful payment under a Letter of Credit after
the presentation to it of a draft and certificates strictly complying with the terms and conditions
of the Letter of Credit.

          In furtherance and not in limitation of the foregoing, either Issuing Bank 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.

          Section 12.5 Certain Cash Deposits. If, as of the 15th day of the first complete
calendar month after the end of the each fiscal quarter of AGCO (or, if such 15th day is not a
Business Day, the next-following Business Day), the Outstandings shall exceed one hundred five
percent (105%) of the Total Commitments (the “Currency Exchange Excess”) and to the extent
that a Borrower is not required on such date to prepay Revolving Loans in an aggregate principal
amount equal to the Currency Exchange Excess pursuant to Section 2.4(b)(ii), AGCO will,
promptly after a request therefor by the Administrative Agent, deposit in same-day funds at the
Administrative Agent’s office designated in such request, for deposit in such interest-bearing
account as the Administrative Agent shall specify (the “Borrower Cash Collateral Account”),
an amount equal to the Currency Exchange Excess (net of any prepayment pursuant to Section 

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2.4(b)(ii)). The Borrower Cash Collateral Account shall be in the name and under the
sole dominion and control of the Administrative Agent. The Administrative Agent shall have no
obligation to invest any amounts on deposit in the Borrower Cash Collateral Account. AGCO grants
to the Administrative Agent, for its benefit and the benefit of the Lenders, a lien on and security
interest in the Borrower Cash Collateral Account and all amounts from time to time on deposit
therein as collateral security for the performance of AGCO’ s obligations under this Agreement and
the other Loan Documents. The Administrative Agent shall have all rights and remedies available to
it under applicable law with respect to the Borrower Cash Collateral Account and all amounts on
deposit therein. Promptly after any date on which there shall occur a reduction in the amount of
the Currency Exchange Excess, the Administrative Agent will return to AGCO, free and clear of any
Lien under this section, an amount equal to the excess of amounts then on deposit in the Borrower
Cash Collateral Account (including accrued interest) over the amount of the Currency Exchange
Excess as of the date of and after giving effect to such reduction.

          Section 12.6 Waiver of Jury Trial. EACH BORROWER, EACH AGENT, EACH ISSUING BANK AND
EACH LENDER HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR
COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO ANY OF
THE LOAN DOCUMENTS, THE LOANS OR THE ACTIONS OF EITHER AGENT, ANY ISSUING BANK OR ANY LENDER IN THE
NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF.

ARTICLE 13.

CONFIDENTIALITY

     The Administrative Agent and the Lenders each individually (and not jointly or jointly and
severally) agree that material, non-public information regarding Borrowers and their Subsidiaries,
their operations, assets, and existing and contemplated business plans shall be treated by the
Administrative Agent and the Lenders in a confidential manner, and shall not be disclosed by the
Administrative Agent and the Lenders to Persons who are not parties to this Agreement, except: (a)
to attorneys for and other advisors, accountants, auditors, and consultants to any Lender of any
Issuing Bank, (b) to Subsidiaries and Affiliates of any Lender or any Issuing Bank, provided that
any such Subsidiary or Affiliate shall have agreed to receive such information hereunder subject to
the terms of this Article 13, (c) as may be required by statute, decision or other judicial
or administrative order, rule, or regulation, (d) as may be agreed to in advance by Borrowers or
their Subsidiaries or as requested or required by any Governmental Authority pursuant to any
subpoena or other legal process, (e) as to any such information that is or becomes generally
available to the public (other than as a result of prohibited disclosure by the Administrative
Agent or the Lenders), (f) in connection with any assignment, prospective assignment, sale,
prospective sale, participation or prospective participations, or pledge or prospective pledge of
any Lender’s interest under this Agreement, provided that any such assignee, prospective assignee,
purchaser, prospective purchaser, participant, prospective participant, pledgee, or prospective
pledgee shall have agreed in writing to in writing to receive such information hereunder subject to
the terms of this Article, and (g) in connection with any litigation or other adversary proceeding
involving parties hereto which such litigation or

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adversary proceeding involves claims related to the rights or duties of such parties under
this Agreement or the other Loan Documents. The provisions of this Article 13 shall
survive for two (2) years after the payment in full of the Obligations. Anything contained herein
or in any other Loan Document to the contrary notwithstanding, the obligations of confidentiality
contained herein and therein, as they relate to the transactions contemplated hereby, shall not
apply to the federal tax structure or federal tax treatment of such transactions, and each party
hereto (and any employee, representative, or agent of any party hereto) may disclose to any and all
Persons, without limitation of any kind, the federal tax structure and federal tax treatment of
such transactions (including all written materials related to such tax structure and tax
treatment). The preceding sentence is intended to cause the transactions contemplated hereby to
not be treated as having been offered under conditions of confidentiality for purposes of Section
1.6011-4(b)(3) (or any successor provision) of the Treasury Regulations promulgated under Section
6011 of the Internal Revenue Code and shall be construed in a manner consistent with such purpose.
In addition, each party hereto acknowledges that it has no proprietary or exclusive rights to the
tax structure of the transactions contemplated hereby or any tax matter or tax idea related
thereto.

[SIGNATURE PAGES TO FOLLOW]

98

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first-above written.

	 	 	 	 	 	 	 
	BORROWERS:	 	AGCO CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	      /s/ David Williams	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: David Williams	 	 
	 

	 	 	 	Title: VP — Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	AGCO INTERNATIONAL LIMITED	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	      /s/ Roger N. Batkin	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Roger N. Batkin	 	 
	 

	 	 	 	Title: Director	 	 
	 
	 	 	 	 	 	 
	 	 	AGCO INTERNATIONAL HOLDINGS B.V.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	      /s/ Roger N. Batkin	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Roger N. Batkin	 	 
	 

	 	 	 	Title: Director	 	 

Credit Agreement

 

 

	 	 	 	 	 	 	 
	ADMINISTRATIVE AGENT:	 	COÖPERATIEVE CENTRALE

RAIFFEISEN-BOERENLEENBANK B.A., 

“RABOBANK NEDERLAND”, NEW YORK 

BRANCH, as the Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ Stephanie DeBeer	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Stephanie DeBeer	 	 
	 

	 	 	 	Title: Managing Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	      /s/ Rebecca O. Morrow	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Rebecca O. Morrow	 	 
	 

	 	 	 	Title: Executive Director	 	 

Credit AgreementEX-4.1 FORM OF TERM NOTE

Exhibit 4.1

FORM OF TERM NOTE

THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES
MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN
OPINION OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SUCH
ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SUCH ACT. NOTWITHSTANDING THE
FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER
LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

SENIOR SECURED TERM NOTE

			
	Issuance Date [                    ], 2008
	 	Principal: U.S. $15,000,000

     FOR VALUE RECEIVED, each of Merge Healthcare Incorporated, a Wisconsin corporation (“Parent”),
Cedara Software (USA) Limited, a Delaware corporation, Merge eMed, Inc., a Delaware corporation,
Cedara Software Corp., an Ontario corporation, Cedara Software Limited, an Ontario corporation,
Merge Technologies Holdings Co., a Nova Scotia unlimited company, eFilm Medical, Inc., an Ontario
corporation, Merge Cedara ExchangeCo. Limited, an Ontario corporation, each as subsidiaries of
Parent (each, including Parent, an “Issuer” and together, including Parent, the “Issuers”), and
each Person (as defined below) other than the Issuers which are parties hereto or which becomes a
party hereto pursuant to the joinder provisions of Section 24 hereof (hereinafter each of the
Issuers and such other Persons are collectively referred to as the “Companies” or individually
referred to as a “Company”) hereby, jointly and severely, promises to pay to the order of Merrick
RIS, LLC, a Delaware limited liability company, or its registered assigns (the “Holder”) the amount
set out above as the Principal (as reduced pursuant to the terms hereof pursuant to redemption or
otherwise), the “Principal”) upon the Maturity Date (as defined below), acceleration, redemption,
or when otherwise due (in each case in accordance with the terms hereof) and to pay interest
(“Interest”) on any outstanding Principal at a rate equal to 13.00% per annum (the “Interest
Rate”), from the date set out above as the Issuance Date (the “Issuance Date”) until the same
becomes due and payable, whether upon an Interest Date (as defined below) or the Maturity Date,
acceleration, redemption, or otherwise (in each case in accordance with the terms hereof). This
Senior Secured Term Note (including all Senior Secured Term Notes issued in exchange, transfer, or
replacement hereof, collectively, the “Term Note”) is issued pursuant to the Securities Purchase
Agreement (as defined below) on the Closing Date (as defined below).

 

 

Certain capitalized terms used herein are defined in Section 22 or in the Securities Purchase
Agreement, as applicable.

     1. PAYMENTS OF PRINCIPAL. On the Maturity Date, the Companies shall pay to the Holder
an amount equal to the Principal, as well as all accrued but unpaid Interest. The “Maturity Date”
shall [                    ], 2010.

     2. INTEREST; INTEREST RATE. Interest on this Term Note shall commence accruing on the
Issuance Date and shall be computed on the basis of a 365-day year and actual days elapsed and
shall be payable in arrears for each Payment Quarter on the first day of the succeeding Payment
Quarter during the period beginning on the Issuance Date and ending on, and including, the Maturity
Date (each, an “Interest Date”). Interest shall be payable on each Interest Date, to the record
holder of this Term Note on the applicable Interest Date, in cash (“Cash Interest”). Prior to the
payment of Interest on an Interest Date, Interest on this Term Note shall accrue at the Interest
Rate. Upon the occurrence and during the continuance of an Event of Default, the Interest Rate
shall be increased to eighteen and a half percent (18.5%). In the event that such Event of Default
is subsequently cured, the adjustment referred to in the preceding sentence shall cease to be
effective as of the date of such cure; provided that the Interest as calculated and unpaid at such
increased rate during the continuance of such Event of Default shall continue to apply to the
extent relating to the days after the occurrence of such Event of Default through and including the
date of cure of such Event of Default. The Holder acknowledges that, on the Issuance Date, the
Companies paid the Holder the first two Interest payments due hereunder. For the purposes of the
Interest Act (Canada) and disclosure thereunder, (i) whenever any interest or fee to be paid
hereunder or in connection herewith is to be calculated on the basis of any period of time that is
less than a calendar year, the yearly rate of interest to which the rate used in such calculation
is equivalent is the rate so used multiplied by the actual number of days in the calendar year in
which the same is to be ascertained and divided by 365, (ii) the rates of interest under this Note
are nominal rates, and not effective rates or yields, and (iii) the principle of deemed
reinvestment of interest does not apply to any interest calculation under this Agreement.

     3. RIGHTS UPON EVENT OF DEFAULT.

          (a) Event of Default. Each of the following events shall constitute an “Event of
Default”:

               (i) any of the Companies’ failure to pay to the Holder any amount of Principal, Interest, Late
Charges (as defined below) or other amounts when and as due under this Term Note (including,
without limitation, any of the Companies’ failure to pay any redemption payments or amounts
hereunder) or any other Transaction Document (as defined in the Securities Purchase Agreement), or
any other agreement, document, certificate or other instrument delivered in connection with the
transactions contemplated hereby and thereby, except in the case of a failure to pay Interest and
Late Charges when and as due, in which case only if such failure continues for a period of at least
five (5) Business Days;

               (ii) any default occurs and is continuing under, or any redemption of or acceleration prior to
maturity of, any Indebtedness of the Companies or any of

 

 

their Subsidiaries in excess of $50,000; provided, that in the event that any such
acceleration of Indebtedness is rescinded by the holders thereof prior to acceleration of this Term
Note, no Event of Default shall exist as a result of such rescinded acceleration;

               (iii) any of the Companies, pursuant to or within the meaning of Title 11, U.S. Code, the
Bankruptcy and Insolvency Act (Canada), the Companies Creditors Arrangement Act (Canada), the
Winding-Up and Restructuring Act (Canada) or any similar federal, foreign, provincial or state law
for the relief of debtors (collectively, “Bankruptcy Law”), (A) commences a voluntary case,
(B) consents to the entry of an order for relief against it in an involuntary case, (C) consents to
the appointment of a receiver, receiver–manager, manager, trustee, assignee, liquidator or similar
official (a “Custodian”), (D) makes a general assignment for the benefit of its creditors, or
(E) admits in writing that it is generally unable to pay its debts as they become due;

               (iv) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law,
which is not rescinded, vacated, overturned, or otherwise withdrawn within thirty (30) days after
the entry thereof, and that (A) is for relief against any of the Companies or any of their
Subsidiaries in an involuntary case, (B) appoints a Custodian of any of the Companies or any of
their Subsidiaries, or (C) orders the liquidation of any of the Companies or any of their
Subsidiaries;

               (v) a final judgment or judgments for the payment of money are rendered against any of the
Companies or any of their Subsidiaries and which judgments are not, within thirty (30) days after
the entry thereof, paid, bonded, discharged or stayed pending appeal, or are not discharged within
thirty (30) days after the expiration of such stay, unless such judgment is covered by insurance or
an indemnity from a credit worthy party, so long as the applicable Company or Subsidiary provides
the Holder a written statement from such insurer or indemnity provider (which written statement
shall be reasonably satisfactory to the Holder) to the effect that such judgment is covered by
insurance or an indemnity and such Company or Subsidiary will receive the proceeds of such
insurance or indemnity within thirty (30) days of the issuance of such judgment;

               (vi) any of the Companies breaches any representation, warranty, covenant, or other term or
condition of any Transaction Document, except, in the case of a breach of a covenant or other term
or condition of any Transaction Document which is curable, only if such breach continues for a
period of at least five (5) consecutive Business Days, other than a breach of Sections 8 of this
Term Note, for which there shall be no cure period;

               (vii) any breach or failure in any respect to comply with the provisions of Section 5 this
Note;

               (viii) any Company or Subsidiary consummates a Fundamental Transaction contrary to the
provisions of Section 4 of this Term Note;

               (ix) the repudiation by any of the Companies of any of its obligations under any Security
Document, or any Security Document or any term thereof shall

 

 

cease to be, or is asserted by any Company not to be, a legal, valid and binding obligation of
any Company enforceable in accordance with its terms;

               (x) any Lien against the Collateral intended to be created by any Security Document shall at
any time be invalidated, subordinated or otherwise cease to be in full force and effect, for
whatever reason, or any security interest purported to be created by any Security Document shall
cease to be, or shall be asserted by any Company not to be, a valid, first priority perfected Lien
(to the extent that any Transaction Document obligates the parties to provide such a perfected
first priority Lien, and except to the extent Permitted Liens have priority) in the Collateral
(except as expressly otherwise provided under and in accordance with the terms of such Transaction
Document);

               (xi) any provision of any Security Document shall at any time for any reason be declared to be
null and void, or the validity or enforceability thereof shall be contested by any Company, or a
proceeding shall be commenced by any Company, or by any governmental authority having jurisdiction
over such Company, seeking to establish the invalidity or unenforceability thereof, or any Company
shall deny that any Company has any liability or obligation purported to be created under any
Security Document;

               (xii) any Event of Loss in excess of $250,000 that is not fully covered by insurance, the
proceeds of which are paid to the Company within 60 days of such Event of Loss and which proceeds
are used to replace such asset within 30 days of receipt thereof or otherwise used to make a
Permitted Redemption;

               (xiii) the failure of the Parent’s Common Stock to be traded or quoted on the New York Stock
Exchange, the NASDAQ Global Market, the NASDAQ Capital Market or the American Stock Exchange;

               (xiv) the occurrence of any Material Adverse Effect;

               (xv) the failure of the applicable Registration Statement required to be filed pursuant to the
Registration Rights Agreement to be declared effective by the SEC on or prior to the date that is
sixty (60) days after the applicable Effectiveness Deadline (as defined in the Registration Rights
Agreement), or, while the applicable Registration Statement is required to be maintained effective
pursuant to the terms of the Registration Rights Agreement, the effectiveness of the applicable
Registration Statement lapses for any reason (including, without limitation, the issuance of a stop
order) or is unavailable to any holder of the Term Notes for sale of such holder’s Registrable
Securities (as defined in the Registration Rights Agreement) which are required to be included in
such Registration Statement in accordance with the terms of the Registration Rights Agreement, and
such lapse or unavailability continues for a period of twenty (20) consecutive days or for more
than an aggregate of thirty (30) days in any 365-day period (other than days during an Allowable
Grace Period (as defined in the Registration Rights Agreement)).

          (b) Redemption Right. Promptly after the occurrence of an Event of Default with
respect to this Term Note, the Companies shall deliver written notice thereof via facsimile and
overnight courier (an “Event of Default Notice”) to the Holder. At any time after

 

 

the earlier of the Holder’s receipt of an Event of Default Notice and the Holder becoming
aware of a Event of Default, the Holder may require the Companies to redeem all or any portion of
this Term Note (as “Event of Default Redemption”) by delivering written notice thereof (the “Event
of Default Redemption Notice”) to the Companies, which Event of Default Redemption Notice shall
indicate the portion of this Term Note the Holder is electing to redeem; provided, that upon the
occurrence of any default described in Section 3(a)(iii) or 3(a)(iv), this Term Note shall
automatically, and without any action on behalf of the Holder, be redeemed by the Companies. Each
portion of this Term Note subject to redemption by the Companies pursuant to this Section 3(b)
shall be redeemed by the Companies at a price equal to the Redemption Premium plus accrued and
unpaid Interest and accrued and unpaid Late Charges and Interest with respect to such portion of
this Term Note subject to redemption (the “Event of Default Redemption Price”). Redemptions
required by this Section 3(b) shall be made in accordance with the provisions of Section 7.

     4. RIGHTS UPON FUNDAMENTAL TRANSACTION AND CHANGE OF CONTROL.

          (a) Assumption. None of the Companies or any of their Subsidiaries shall enter into
or be party to a Fundamental Transaction unless (i) the Fundamental Transaction would result in a
Change of Control and the Companies comply with the provisions of Section 4(b), or (ii) if the
Fundamental Transaction does not result in a Change of Control, the Successor Entity assumes in
writing all of the obligations of the applicable Company under this Term Note and the other
Transaction Documents in accordance with the provisions of this Section 4(a) pursuant to written
customary assumption agreements in form and substance reasonably satisfactory to the Holder prior
to, or simultaneously with, such Fundamental Transaction, including agreements to deliver to each
holder of Term Notes in exchange for such Term Notes a security of the Successor Entity evidenced
by a written instrument substantially similar in form and substance to the Term Notes, including,
without limitation, having a principal amount and interest rate equal to the principal amounts and
the interest rates of the Term Notes held by such holder and having similar ranking to the Term
Notes, and satisfactory to the Holder. Upon the occurrence of any Fundamental Transaction, the
Successor Entity shall succeed to, and be substituted for (so that from and after the date of such
Fundamental Transaction, the provisions of this Term Note referring to the “Companies” shall refer
instead to the Successor Entity and each of the Companies then an affiliate thereof), and may
exercise every right and power of the Companies and shall assume all of the obligations of the
Companies under this Term Note with the same effect as if such Successor Entity had been named as
the Companies herein. The provisions of this Section shall apply similarly and equally to
successive Fundamental Transactions and shall be applied without regard to any limitations on the
redemption of this Term Note.

          (b) Redemption Right. No later than 5 days prior to the consummation of a Change of
Control, but in any event not prior to the public announcement of such Change of Control, the
Companies shall deliver written notice thereof via facsimile and overnight courier to the Holder (a
“Change of Control Notice”). At any time during the period beginning after the Holder’s receipt of
a Change of Control Notice and ending on the date which is thirty (30) days after the consummation
of such Change of Control), the Holder may require the Companies to redeem all or any portion of
this Term Note by delivering written notice thereof (“Change of

 

 

Control Redemption Notice”) to the Companies, which Change of Control Redemption Notice shall
indicate the portion of this Term Note the Holder is electing to redeem. The portion of this Term
Note subject to redemption pursuant to this Section 4 shall be redeemed by the Companies at a price
equal to 120% (or, if the Change of Control results in the payment of consideration to the holders
of Common Stock of the Company equal to or exceeding $1.75 per share (as adjusted for any
combinations, splits, recapitalizations and the like with respect to such shares), 100%) of the sum
of the amount being redeemed together with accrued and unpaid Interest with respect to such amount
and accrued and unpaid Late Charges with respect to such amount and Interest (the “Change of
Control Redemption Price”). Redemptions required by this Section 4 shall be made in accordance
with the provisions of Section 7 and shall have priority to payments to stockholders in connection
with a Change of Control.

     5. COMPANY REDEMPTIONS.

          (a) Permitted Redemption. The Companies may elect to pay to the Holder of this Term
Note the Permitted Redemption Amount (as defined below), subject to and in accordance with the
terms of this Section 5(a), by redeeming the Principal, in whole or in part (but, other than as
such relates to an Event of Loss or as set forth in Section 8(h), in minimum increments of Five
Hundred Thousand Dollars ($500,000)), in accordance with this Section 5(a), (a “Permitted
Redemption”). On or prior to the date which is the second (2nd) Business Day prior to the date of
redemption pursuant to this Section 5(a) (the “Redemption Date”), the Companies shall deliver
written notice (each, a “Permitted Redemption Notice”) to the Holder stating the amount which the
Companies elect to redeem pursuant to a Permitted Redemption (the “Permitted Redemption Amount”),
which Permitted Redemption Amount shall be equal to (i) (A) if the Redemption Date is prior to the
1 year anniversary date of the Issuance Date or (B) (1) if the Redemption Date is on or after the 1
year anniversary of the Issuance Date and (2) one of the Companies has entered into a
confidentiality agreement, letter of intent or definitive agreement relating to a potential Change
of Control or otherwise has knowledge that a Change of Control may exist or is reasonably likely to
exist within 60 days after the Redemption Date, 120% of the outstanding Principal being redeemed,
or (ii) other than as set forth in Section 5(a)(i) if the Redemption Date is on or after the 1 year
anniversary date of the Issuance Date, 118% of the outstanding Principal being redeemed, and in
each case, together with accrued and unpaid Interest with respect to such Permitted Redemption
Amount and accrued and unpaid Late Charges with respect to such Permitted Redemption Amount and
Interest; provided, however, that if a Permitted Redemption is made simultaneously with, or within
5 Business Days of, a Change of Control that results in the payment of consideration to the holders
of Common Stock of the Company equal to or exceeding $1.75 per share (as adjusted for any
combinations, splits, recapitalizations and the like with respect to such shares), the redemption
price shall equal 100% of the Principal, plus accrued Interest of Late Charges. A Permitted
Redemption Notice may be revoked prior to consummation of the Permitted Redemption. The Companies
shall redeem the applicable Permitted Redemption Amount of this Debenture pursuant to this Section
5(a) together with the corresponding Permitted Redemption Amounts of the Other Debentures pursuant
to the corresponding provisions of the Other Debentures. If the Companies elect to redeem pursuant
to a Permitted Redemption, then the Permitted Redemption Amount which is to be paid to the Holder
on the applicable Permitted Redemption Date shall be redeemed by the Companies on such Permitted
Redemption Date, and the Companies shall pay to the Holder on such Permitted

 

 

Redemption Date, by wire transfer of immediately available funds, an amount in cash equal to
the Permitted Redemption Amount.

     6. NON-CIRCUMVENTION. Each Company hereby covenants and agrees that no Company will,
by amendment of its articles or certificate of Incorporation or amalgamation, bylaws, or other
governing documents, or through any reorganization, transfer of assets, consolidation, merger,
scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary action,
avoid or seek to avoid the observance or performance of any of the terms of this Term Note, and
will at all times in good faith carry out all of the provisions of this Term Note and take all
action as may be required to protect the rights of the Holder of this Term Note.

     7. HOLDER REDEMPTIONS.

          (a) Mechanics. Upon an Event of Default Redemption, the Companies shall deliver the
applicable Event of Default Redemption Price to the Holder within five (5) Business Days after the
Companies’ receipt of the Holder’s Event of Default Redemption Notice. If the Holder has submitted
a Change of Control Redemption Notice in accordance with Section 4(b), the Companies shall deliver
the applicable Change of Control Redemption Price to the Holder concurrently with the consummation
of such Change of Control if such notice is received prior to the consummation of such Change of
Control and within five (5) Business Days after the Companies’ receipt of such notice otherwise.
In the event of a redemption of less than all of the Principal of this Term Note, the Companies
shall promptly cause to be issued and delivered to the Holder a new Term Note (in accordance with
Section 11(d)) representing the outstanding Principal which has not been redeemed.

          (b) Redemption by Holders. Any Event of Default Redemption Notice or Change of
Control Redemption Notice for redemption or repayment as a result of an event or occurrence
substantially similar to the events or occurrences described in Section 3(b) or Section 4(b), is to
be delivered to the Companies by the Required Holders. If the Companies receive any Event of
Default Redemption Notice or Change of Control Redemption Notice and the Companies are unable to
redeem all Principal, Interest, Late Charges and other amounts designated in such Redemption
Notice, then the Companies shall redeem a pro rata amount from each holder of the Term Notes
(including the Holder) based on the principal amount of the Term Notes submitted for redemption
pursuant to such Event of Default Redemption Notice or Change of Control Redemption Notice received
by the Companies and shall redeem the remaining Principal, Interest, Late Charges and other amounts
designated in such Redemption Notice as legal funds are available therefor; provided that the
unredeemed portion of such Principal shall accrue interest at rate per annum equal to eighteen and
a half percent (18.5%) in the manner set forth in Section 2 hereof until such amounts are paid to
the Holder.

     8. COVENANTS.

          (a) Rank. All payments due under this Term Note shall be senior in right of payment,
whether with respect to payment of redemptions, interest, damages or upon liquidation or
dissolution or otherwise, to all other current and future Indebtedness of the Companies; provided
that this Term Note shall only rank pari passu in right of payment with

 

 

respect to Indebtedness relating to Permitted Liens set forth in subparts (d), (g) and (h) of
the definition of Permitted Liens.

          (b) Incurrence of Indebtedness. So long as this Term Note is outstanding, no Company
shall, and no Company shall permit any of its Subsidiaries to, directly or indirectly, create,
incur or guarantee, assume, or suffer to exist any Indebtedness, other than (i) the Indebtedness
evidenced by this Term Note and (ii) Permitted Indebtedness.

          (c) Existence of Liens. So long as this Term Note is outstanding, no Company shall,
and no Company shall permit any of its Subsidiaries to, directly or indirectly, allow or suffer to
exist any mortgage, lien, pledge, charge, security interest or other encumbrance upon or in any
Property or assets (including accounts and contract rights) owned by any Company or any of their
Subsidiaries (collectively, “Liens”), other than Permitted Liens.

          (d) Creation, Perfection, and Priority of Liens. Each Company represents and warrants
that the Security Documents are effective to create in favor of the Holder, for the benefit of the
Holder, a legal, valid, binding, and enforceable security interest and Lien, and a first priority
security interest and Lien in the Collateral as security for the obligations under the Term Notes
(other than with respect to Indebtedness relating to Permitted Liens set forth in subparts (d), (g)
and (h) of the definition of Permitted Liens), to the extent that a legal, valid, binding, and
enforceable security interest and Lien in such Collateral may be created under applicable law.

          (e) Restricted Payments. The Parent shall not, directly or indirectly,

               (i) declare or pay any dividend or make any other payment or distribution on account of any
Company’s or Subsidiary’s Equity Interests (including, without limitation, any payment in
connection with any merger or consolidation involving any Company) or to the direct or indirect
holders of any Company’s or Subsidiary’s Equity Interests in their capacity as such (in each case,
other than to the Company or wholly owned U.S. Subsidiaries of the Company);

               (ii) purchase, redeem or otherwise acquire or retire for value (including, without limitation,
in connection with any merger or consolidation involving any Company) any Equity Interests of any
Company or any Subsidiary or any direct or indirect parent of any Company or any Subsidiary in
excess of $50,000 per calendar year (in each case, other than from wholly owned U.S. Subsidiaries
of the Company); or

               (iii) make any prepayment on or with respect to, accelerate the maturity of, or purchase,
redeem, defease or otherwise acquire or retire for value prior to its scheduled maturity any
Indebtedness of any Company or any Subsidiary, except for payments of principal, interest and other
amounts under this Term Note.

          (f) Insurance. The Companies shall furnish Holder with proof reasonably satisfactory
to the Holder that all insurance required under the Security Documents is in full force and effect
at each renewal of any such contract or policy of insurance or upon the Holder’s request.

 

 

          (g) Event of Loss; Claims. The Companies shall inform the Holder with reasonable
promptness upon the occurrence of (i) any event which, with or without the passage of time, could
reasonably be expected to constitute an Event of Loss, or (ii) any claim with respect to any
liability filed against the Companies or any of their Subsidiaries.

          (h) Asset Sales. No Company shall, and no Company shall permit any of its Subsidiaries
to, directly or indirectly, consummate any Asset Sale other than Permitted Asset Sales. The
Companies shall apply the proceeds from such Permitted Asset Sale as follows:

               (i) the first $10,000,000 of Net Proceeds received by the Companies from such Permitted Asset
Sale shall be used by the Companies to make Permitted Redemptions in accordance with Section 5
hereof. Such Permitted Redemptions shall be made within 2 Business Days of the date any of the
Companies receive any such proceeds relating to each such Asset Sale; and

               (ii) after the Companies have made Permitted Redemptions pursuant to clause (i) above in an
amount not less than $10,000,000, the remaining proceeds from such Asset Sale shall be used as
determined by the Board of Directors of the Company.

               Notwithstanding the foregoing, to the extent that the Required Holders in the aggregate with
respect to such Permitted Asset Sale have not received Net Proceeds in the amount set forth in
subpart (i) above and the proceeds of a Permitted Asset Sale are comprised of consideration other
than cash as set forth in the definition of Permitted Asset Sale, the Required Holders shall have
the right to demand that the Company make a Permitted Redemption in accordance with Section 5
hereof with such non-cash proceeds. The amount of such Permitted Redemption attributable to such
proceeds (and the concomitant reduction in the principal amount of the Note pursuant to such
Permitted Redemption) shall be the fair market value thereof determined by the Board of Directors
of the Company in its reasonable discretion, which determination shall be made within 5 Business
Days of the request therefore by the Required Holders prior to the exercise of the rights set forth
in this paragraph. Such Permitted Redemption shall be made within 5 Business Days of the demand
therefore by the Required Holders.

          (i) Use of Proceeds. The Companies shall use the proceeds of sale of the Term Notes
as set forth on Schedule 4(d) to the Securities Purchase Agreement.

          (j) Audit Rights. The Companies shall, upon reasonable notice, subject to reasonable
safety and security procedures, and at the Companies’ sole cost and expense permit the Holder or
its designated representatives, to visit and inspect any of the properties of the Companies and
their Subsidiaries, to examine the books of account of the Companies and their Subsidiaries (and to
make copies thereof and extracts therefrom), and to discuss the affairs, finances and accounts of
the Companies and their Subsidiaries, and to be advised as to the same by, its and their officers,
and to conduct examinations and verifications (whether by internal commercial finance examiners or,
if the Holder has a reasonable basis that Company-prepared financial information is not accurate,
by independent auditors), all at such reasonable times and intervals as the Holder may reasonably
request.

 

 

          (k) Capital Expenditures. The Companies shall not, and shall not permit any of their
Subsidiaries to, make any Capital Expenditures in an amount greater than the amount specifically
set forth in the then effective budget approved by the Board of Directors and delivered by the
Parent to the Holder during any fiscal year of the Companies without the Holder’s prior written
consent, which consent shall not be unreasonably withheld.

          (l) Litigation and Judgments. The Companies shall give Holder in writing within ten
(10) days of becoming aware thereof, of any litigation or proceedings threatened in writing or any
pending litigation and proceedings affecting any of the Companies or their Subsidiaries or to which
the Companies or any of their Subsidiaries are or become a party, in each case, to the extent
disclosed on the Schedules to the Purchase Agreement, arising after the date hereof, involving a
claim against any Company stating the nature and status of such litigation or proceedings. The
Companies shall give notice thereof to the Holder, in writing, in form and substance reasonably
satisfactory to the Holder, within ten (10) days of the occurrence of any judgment not covered by
insurance, final or otherwise, against the Companies or their Subsidiaries.

          (m) Additional Collateral. With respect to any Property acquired after the Issuance
Date by any Company or Subsidiary as to which the Holder does not have a perfected Lien, such
Company shall, or shall cause such Subsidiary to, promptly (i) to the extent such property has a
purchase price or fair market value of greater than $50,000, send written notice to the Holder with
respect thereto at least thirty (30) days after the acquisition thereof, (ii) execute and deliver
to the Holder or its agent such amendments to the Security Documents or such other documents as the
Holder deems necessary or advisable to grant to the Holder a security interest in such Property and
(ii) take all actions necessary or advisable to grant to the Holder a perfected first priority
security interest in such Property, including, without limitation, the filing of Mortgages and UCC
or PPSA financing statements in such jurisdictions as may be required by the Security Documents or
by law or as may be reasonably requested by the Holder.

          (n) Affiliate Transactions. No Company shall, nor shall it permit any of its
Subsidiaries to, directly or indirectly, enter into or permit to exist any transaction (including
the purchase, sale, lease or exchange of any property or the rendering of any service) with any
Affiliate of any Company or Subsidiary, unless such transaction is on terms that are no less
favorable to such Company or Subsidiary, as the case may be, than those that might be obtained at
the time from a Person who is not an Affiliate. Notwithstanding the foregoing, nothing herein
shall prevent the Companies from making Permitted Investments. Notwithstanding the foregoing,
nothing herein shall prevent the Companies from loaning money to or making investments in
Subsidiaries pursuant to intercompany notes which have been pledged to the Holder pursuant to the
Security Agreement, provided, that the aggregate amounts thereof shall not exceed the amount
specifically set forth in the then effective budget approved by the Board of Directors and
delivered by the Parent to the Holder (such loans and investments referred to herein as
“Intercompany Investments”).

          (o) Compliance with Securities Laws. The Companies shall, and shall cause their
Subsidiaries to, comply, in all material respects, with federal, state and other applicable
securities laws.

 

 

          (p) Loans and Investments. The Companies shall not, and shall not permit any
Subsidiary to, purchase or acquire, or make any commitment therefor, any capital stock, equity
interest, or any obligations or other securities of, or any interest in, any Person, or make or
commit to make any advance, loan, extension of credit or capital contribution to or any other
investment in, any Person including any Affiliate of the Companies (unless otherwise permitted
pursuant to the terms hereof (together, “Investments”), except for Permitted Investments.

          (q) Financial Covenant. The Parent shall cause: (i) for the fiscal quarter ending
December 31, 2008, Adjusted EBITDA for such fiscal quarter to be greater than $0.00; and (ii) for
each fiscal quarter thereafter, cumulative Adjusted EBITDA for the period from October 1, 2008
through the end of each such fiscal quarter, to be greater than $0.00.

     9. VOTE TO ISSUE, OR CHANGE THE TERMS OF, TERM NOTES. The affirmative vote at a
meeting duly called for such purpose or the written consent without a meeting of the Required
Holders shall be required for any change or amendment to this Term Note.

     10. TRANSFER. This Term Note may be offered, sold, assigned or transferred by the
Holder with the consent of the Companies, such consent not to be unreasonably withheld or delayed,
provided, however, that such consent shall not be required if an Event of Default has occurred and
is continuing.

     11. REISSUANCE OF THIS TERM NOTE.

          (a) Transfer. If this Term Note is to be transferred, the Holder shall surrender this
Term Note to the Companies, whereupon the Companies will forthwith issue and deliver upon the order
of the Holder a new Term Note (in accordance with Section 11(d)), registered as the Holder may
request, representing the outstanding Principal being transferred by the Holder and, if less than
the entire outstanding Principal is being transferred, a new Term Note (in accordance with Section
11(d)) to the Holder representing the outstanding Principal not being transferred.

          (b) Lost, Stolen or Mutilated Term Note. Upon receipt by the Companies of evidence
reasonably satisfactory to the Companies of the loss, theft, destruction or mutilation of this Term
Note, and, in the case of mutilation, upon surrender and cancellation of this Term Note, the
Companies shall execute and deliver to the Holder a new Term Note (in accordance with Section
11(d)) representing the outstanding Principal.

          (c) Term Note Exchangeable for Different Denominations. This Term Note is
exchangeable, upon the surrender hereof by the Holder at the principal office of the Companies, for
a new Term Note or Term Notes (in accordance with Section 11(d) and in principal amounts of at
least $250,000) representing in the aggregate the outstanding Principal of this Term Note, and each
such new Term Note will represent such portion of such outstanding Principal as is designated by
the Holder at the time of such surrender.

 

 

          (d) Issuance of New Term Notes. Whenever the Companies are required to issue a new
Term Note pursuant to the terms of this Term Note, such new Term Note (i) shall be of like tenor
with this Term Note, (ii) shall represent, as indicated on the face of such new Term Note, the
Principal remaining outstanding (or in the case of a new Term Note being issued pursuant to Section
11(a) or Section 11(c), the Principal designated by the Holder which, when added to the principal
represented by the other new Term Notes issued in connection with such issuance, does not exceed
the Principal remaining outstanding under this Term Note immediately prior to such issuance of new
Term Notes), (iii) shall have an issuance date, as indicated on the face of such new Term Note,
which is the same as the Issuance Date of this Term Note, (iv) shall have the same rights and
conditions as this Term Note, and (v) shall represent accrued Interest and Late Charges on the
Principal and Interest of this Term Note, from the Issuance Date.

     12. REMEDIES, CHARACTERIZATIONS, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF.
The remedies provided in this Term Note shall be cumulative and in addition to all other remedies
available under this Term Note and any of the other Transaction Documents at law or in equity
(including a decree of specific performance and/or other injunctive relief), and nothing herein
shall limit the Holder’s right to pursue actual and consequential damages for any failure by the
Companies to comply with the terms of this Term Note. Amounts set forth or provided for herein
with respect to payments and the like (and the computation thereof) shall be the amounts to be
received by the Holder and shall not, except as expressly provided herein, be subject to any other
obligation of the Companies (or the performance thereof). Each of the Companies acknowledges that
a breach by it of its obligations hereunder will cause irreparable harm to the Holder and that the
remedy at law for any such breach may be inadequate. The Companies therefore agree that, in the
event of any such breach or threatened breach, the Holder shall be entitled, in addition to all
other available remedies, to an injunction restraining any breach, without the necessity of showing
economic loss and without any bond or other security being required.

     13. PAYMENT OF COLLECTION, ENFORCEMENT AND OTHER COSTS. If (a) this Term Note is
placed in the hands of an attorney for collection or enforcement or is collected or enforced
through any legal proceeding or the Holder otherwise takes action to collect amounts due under this
Term Note or to enforce the provisions of this Term Note or (b) there occurs any bankruptcy,
reorganization, receivership of any of the Companies or other proceedings affecting creditors’
rights and involving a claim under this Term Note, then the Companies shall pay the reasonable
costs incurred by the Holder for such collection, enforcement or action or in connection with such
bankruptcy, reorganization, receivership or other proceeding, including, but not limited to,
attorneys’ fees and disbursements (and including and such fees and disbursements related to seeking
relief from any stay, automatic or otherwise in effect under any Bankruptcy Law).

     14. CONSTRUCTION; HEADINGS. This Term Note shall be deemed to be jointly drafted by
the Companies and the Holder and shall not be construed against any Person as the drafter hereof.
The headings of this Term Note are for convenience of reference and shall not form part of, or
affect the interpretation of, this Term Note.

 

 

     15. FAILURE OR INDULGENCE NOT WAIVER. No failure or delay on the part of the Holder
in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise of any such power, right or privilege preclude other or
further exercise thereof or of any other right, power or privilege.

     16. DISPUTE RESOLUTION. In the case of a dispute as to the determination of the Event
of Default Redemption Price, the Change of Control Redemption Price, the Permitted Redemption
Amount or any other similar or related amount, the Companies shall submit the disputed
determinations or arithmetic calculations via facsimile within one (1) Business Day of receipt, or
deemed receipt, of the applicable notice or dispute in respect of the Event of Default Redemption
Notice, Change of Control Redemption Notice, the Permitted Redemption Notice or any other similar
or related notice or other event giving rise to such dispute, as the case may be, to the Holder.
If the Holder and the Companies are unable to agree upon such determination or calculation within
one (1) Business Day of such disputed determination or arithmetic calculation being submitted to
the Holder, then the Companies shall, within one (1) Business Day submit via facsimile the disputed
arithmetic calculations to the Companies’ independent, outside accountant. The Companies, at the
Companies’ expense, shall cause the accountant to perform the determinations or calculations and
notify the Companies and the Holder of the results no later than five (5) Business Days from the
time it receives the disputed determinations or calculations. Such accountant’s determination or
calculation, as the case may be, shall be binding upon all parties absent demonstrable error.

     17. NOTICES; PAYMENTS.

          (a) Notices. Whenever notice is required to be given under this Term Note, unless
otherwise provided herein, such notice shall be given in accordance with Section 9(f) of the
Securities Purchase Agreement. The Companies shall provide the Holder with prompt written notice
of all actions taken pursuant to this Term Note, including in reasonable detail a description of
such action and the reason therefor.

          (b) Payments. Whenever any payment of cash is to be made by any of the Companies to
any Person pursuant to this Term Note, such payment shall be made in lawful money of the United
States of America by a check drawn on the account or accounts of the Companies and sent via
overnight courier service to such Person at such address as previously provided to the Companies in
writing (which address, in the case of each of the Buyers, shall initially be as set forth in the
Securities Purchase Agreement); provided that the Holder may elect to receive a payment of cash via
wire transfer of immediately available funds by providing the Companies with prior written notice
setting out such request and the Holder’s wire transfer instructions. Whenever any amount
expressed to be due by the terms of this Term Note is due on any day which is not a Business Day,
the same shall instead be due on the next succeeding day which is a Business Day and, in the case
of any Interest Date which is not the date on which this Term Note is paid in full, the extension
of the due date thereof shall not be taken into account for purposes of determining the amount of
Interest due on such date. Any amount of Principal or other amounts due hereunder or under the
other Transaction Documents, other than Interest, which is not paid when due shall result in a late
charge being incurred and payable by the Companies in an amount equal to interest on such amount at
the rate of eighteen and a half

 

 

percent (18.5%) per annum from the date such amount was due until the same is paid in full
(“Late Charge”).

     18. CANCELLATION. After all Principal, accrued Interest, Late Charges and other
amounts at any time owed on this Term Note have been paid in full in cash, this Term Note shall
automatically be deemed canceled, shall be surrendered to the Companies for cancellation and shall
not be reissued.

     19. WAIVER OF NOTICE. To the extent permitted by law, the Companies hereby waive
demand, notice, protest and all other demands and notices in connection with the delivery,
acceptance, performance, default or enforcement of this Term Note and the Securities Purchase
Agreement.

     20. GOVERNING LAW; SUBMISSION TO JURISDICTION. This Term Note shall be construed and
enforced in accordance with, and all questions concerning the construction, validity,
interpretation and performance of this Term Note and all disputes arising hereunder shall be
governed by, the laws of the State of New York, without giving effect to any choice of law or
conflict of law provision or rule (whether of the State of New York or any other jurisdictions)
that would cause the application of the laws of any jurisdictions other than the State of New York.
The parties hereto (a) agree that any legal action or proceeding with respect to this Term Note or
any other agreement, document, or other instrument executed in connection herewith, shall be
brought in any state or federal court located within the City of New York, , Borough of Manhattan,
in the State of New York, (b) irrevocably waive any objections which either may now or hereafter
have to the venue of any suit, action or proceeding arising out of or relating to this Term Note,
or any other agreement, document, or other instrument executed in connection herewith, brought in
the aforementioned courts, and (c) further irrevocably waive any claim that any such suit, action,
or proceeding brought in any such court has been brought in an inconvenient forum.

     21. Waiver of Jury Trial. THE HOLDER AND THE COMPANIES IRREVOCABLY WAIVE THE RIGHT TO
A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BROUGHT TO ENFORCE ANY PROVISION OF THIS TERM NOTE OR
ANY OTHER TRANSACTION DOCUMENT.

     22. CERTAIN DEFINITIONS. For purposes of this Term Note, the following terms shall
have the following meanings:

          (a) “Adjusted EBITDA” means (a) earnings before interest, taxes, depreciation and amortization
of the Parent and its consolidated Subsidiaries prepared in accordance with GAAP plus (b) the sum
of, in each case to the extent included in the calculation of such earnings but without
duplication, (i) losses and charges with respect to extraordinary and non-recurring items; (ii)
losses or charges resulting from hurricanes, floods, tornadoes, earthquakes or other natural
disasters, (iii) all non-cash charges and non-cash losses for such period, including the amount of
any compensation deduction as the result of any grant of Equity Interests to employees, officers,
directors or consultants approved by the Board of Directors; (iv) all cash, costs and expenses,
including expenses relating to legal fees, incurred in connection with (A) the transactions
contemplated by this Note, (B) any acquisition permitted hereby or

 

 

consented to by the Holder whether or not such acquisition is completed, (C) any transaction
for the issuance of any debt, equity or convertible security permitted hereby or consented to by
the Holder, whether or not such transaction is completed and (D) any Permitted Asset Sale whether
or not such Asset Sale is completed; (v) fees and costs associated with the early extinguishment of
Indebtedness owing to the Holder, (vi) losses from Permitted Asset Sales, (vii) losses, costs and
expenses incurred in connection with the litigation or any governmental proceedings, investigations
or claims set forth in Schedules to the Purchase Agreement including any monies paid in settlement
thereof or to satisfy any judgments thereon, (viii) restructuring charges including, but not
limited to, severance payments, lease termination payments and other early-termination payments
under contracts, relocation expenses, site and office closure costs and other costs and expenses in
connection with downsizing minus (c) the sum of, in each case to the extent included in the
calculation of such earnings but without duplication, (i) any credit for income taxes, (ii)
interest income, (iii) gains from extraordinary and non-recurring items for such period, (iv) any
aggregate net gain from Asset Sales and (v) any other non-cash gains or other items which have been
added in determining earnings, including any reversal of a change referred to in clause (b)(iii)
above, by reason of a decrease in the value of any Equity Interests.

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

          (c) “Asset Sale” means (i) the sale, lease, conveyance or other disposition of any assets or
rights other than in the ordinary course of business, and (ii) the sale of debt or Equity Interests
in any of the Parent’s Subsidiaries.

          (d) “Capital Asset” means, with respect to any Person, any tangible, fixed, or capital asset
owned or leased (in the case of a Capital Lease Obligation) by such Person.

          (e) “Capital Expenditures” means, with respect to any Person and any period, all amounts
expended by such Person during such period to acquire or to construct Capital Assets computed in
accordance with GAAP.

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

          (g) “Capital Stock” means (1) in the case of a corporation, corporate stock; (2) in the case
of an association or business entity, any and all shares, interests, participations, rights or
other equivalents (however designated) of corporate stock; (3) in the case of a partnership or
limited liability company, partnership interests (whether general or limited) or membership
interests; and (4) any other interest or participation that confers on a Person the right to
receive a share of the profits and losses of, or distributions of assets of, the issuing Person,
but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether
or not such debt securities include any right of participation with Capital Stock.

          (h) “Change of Control” means, (i) any Fundamental Transaction with respect to the Parent or
(ii) any sale of the assets or Equity Interests of one or more of the

 

 

Subsidiaries of the Parent which, when taken together, shall constitute the sale of all or
substantially all of the assets of the Parent (as defined under the laws of the State of New York)
other than, in each of (i) and (ii) (x) any reorganization, recapitalization or reclassification of
the shares of Common Stock in which the voting power of the holders of such Common Stock
immediately prior to such reorganization, recapitalization or reclassification continue after such
reorganization, recapitalization or reclassification to hold publicly traded securities and,
directly or indirectly, the voting power of the surviving entity or entities necessary to elect a
majority of the members of the board of directors (or their equivalent if other than a corporation)
of such entity or entities, or (y) pursuant to a migratory merger effected solely for the purpose
of changing the jurisdiction of incorporation of such Company or Subsidiary thereof or (z) any
Permitted Asset Sale.

          (i) “Collateral” means the “Collateral” as defined in the Security Agreement.

          (j) “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.

          (k) “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).

          (l) “Event of Loss” means with respect to any property, any of the following: (a) any loss,
destruction or damage of such property or (b) any condemnation, seizure, or taking, by exercise of
the power of eminent domain or otherwise, of such property, or confiscation of such property or the
requisition of the use of such property.

          (m) “Fiscal Quarter” means a fiscal quarter of any fiscal year of the Companies.

          (n) “Fundamental Transaction” means, with respect to any Company or Subsidiary, that such
Company or Subsidiary shall, directly or indirectly, in one or more related transactions, other
than those transactions set forth in items (iv) and (v) of the definition of Permitted Asset Sale,
(i) consolidate or merge with or into (whether or not such Company or Subsidiary is the surviving
corporation) another Person, (ii) sell, assign, transfer, convey or otherwise dispose of all or
substantially all of the properties or assets of such Company or Subsidiary to another Person,
(iii) allow another Person (other than the Holder or any Affiliate thereof) to make a purchase,
tender or exchange offer that is accepted by the holders of more than 50% of the outstanding shares
of Common Stock (not including any shares of Common Stock held by the Person or Persons making or
party to, or associated or affiliated with the Persons making or party to, such purchase, tender or
exchange offer), (iv) consummate a stock purchase agreement or other business combination
(including, without limitation, a reorganization, recapitalization, spin-off or scheme of
arrangement) with another Person whereby such other Person acquires more than 50% of the
outstanding shares of Common Stock, (v) reorganize, recapitalize or reclassify its Common Stock, or
(vi) any “person” or “group” (as

 

 

these terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act) (other than
the Holder or any Affiliate thereof) is or shall become the “beneficial owner” (as defined in Rule
13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate ordinary voting
power represented by issued and outstanding Common Stock.

          (o) “GAAP” means United States generally accepted accounting principles, consistently applied.

          (p) “Mortgage” means a mortgage in form and substance reasonably satisfactory to the Holder,
as it may be amended, supplemented or otherwise modified from time to time.

          (q) “Net Proceeds” means all proceeds paid or payable to a Company in respect of an Asset Sale
less reasonable out-of-pocket transaction expenses and taxes incurred in respect thereto not to
exceed in the aggregate $500,000.

          (r) “Payment Quarter” means each of: the period beginning on and including the Issuance Date
and ending on and including every successive three-month anniversary thereof until the Maturity
Date.

          (s) “Permitted Asset Sale” means an Asset Sale, in the case of clauses (i), (ii) and (v)
below, in which no less than 75% of the consideration therefor is paid in cash at the closing
thereof and in which;

     (i) whether in any single transaction or series of related transactions, the assets being
transferred therein have a Fair Market Value of less than $1,000,000 in the aggregate and together
with all other Asset Sales (other than the Permitted Asset Sales set forth in clauses (iv) and (v)
below) from the date hereof having not more than a Fair Market Value of $2,000,000;

     (ii) the sale or lease of products, services or accounts receivable by the Companies or any
Subsidiary in the ordinary course of business and any sale or other disposition of damaged,
worn-out, replaced or obsolete assets by the Companies or any Subsidiary in the ordinary course of
business, in each case, as approved by the Board of Directors;

     (iii) a transfer of assets by the Companies or any Subsidiary to a Company or any U.S.
Subsidiary.

     (iv) the sale or transfer of all or a portion of the assets, including the sale of the Equity
Interests of Subsidiaries of the Parent, comprising the “Europe/Middle East/Asia (EMEA) Division”
of the Parent and its Subsidiaries;

     (v) the sale or transfer of all or a portion of the assets, including the sale of the Equity
Interests of Subsidiaries of the Parent, comprising the Cedara Software Division;

     (vi) Asset Sales consented to in writing by the Required Holders; and

          (t) “Permitted Indebtedness” means (i) Indebtedness, the aggregate principal amount of which
incurred and outstanding (other than pursuant to this Note) shall not

 

 

exceed $2 million at any time and that is made expressly subordinate in right of payment to
the Indebtedness evidenced by this Note pursuant to subordination provisions satisfactory to the
Holder (such Indebtedness, the “Subordinated Indebtedness”); (ii) Indebtedness secured by Liens
permitted under clause (d) of the definition of Permitted Liens, (iii) Indebtedness under this
Note; (iv) Indebtedness payable to any Company or any U.S. Subsidiary thereof; provided, however,
that such Indebtedness is expressly subordinated to the prior payment in full in cash of this Note;
and (v) Indebtedness existing as of the date hereof and set forth on Schedule 3(s) to the
hereto (“Existing Indebtedness”);

          (u) “Permitted Investments” means (a) Investments held by the Companies or any Subsidiary in
cash equivalents subject to a Deposit Account Control Agreement pursuant to the terms of the
Security Agreement; (b) extensions of credit in the nature of accounts receivable or notes
receivable arising from the sale or lease of goods or services in the ordinary course of business;
(c) pledges or deposits as required in the ordinary course of business in connection with workmen’s
compensation, unemployment insurance and other social security legislation; (d) advances, loans or
extensions of credit in the ordinary course of business to employees; provided that the aggregate
amount thereof shall not exceed $10,000; (e) any Investment in the Companies or in a U.S.
Subsidiary thereof; and (f) other Investments, so long as the aggregate amount of all such
Investments made since the Closing Date does not at any time exceed $500,000; and (g) Intercompany
Investments.

          (v) “Permitted Liens” means (a) (a) any Lien for taxes not yet due or delinquent or being
contested in good faith by appropriate proceedings promptly initiated and diligently conducted and
for which adequate reserves have been established in accordance with GAAP; (b) any Lien created by
operation of law, such as materialmen’s liens, mechanics’ liens, arising in the ordinary course of
business with respect to a liability that is not yet due or delinquent or that are being contested
in good faith by appropriate proceedings promptly initiated and diligently conducted, and a reserve
or other appropriate provision, if any, as shall be required by GAAP shall have been made therefor;
(d) Liens upon or in any asset acquired or held by the Company or any of its Subsidiaries to secure
the purchase price of such asset or indebtedness incurred solely for the purpose of financing the
acquisition or lease of such asset in an amount of Indebtedness, when aggregated with the principal
amount (or accreted value, as applicable) of all Indebtedness incurred under clause (ii) of the
definition of Permitted Indebtedness does not exceed the amount set forth in the budget as approved
by the Board of Directors and delivered by the Parent to the Holder at any time outstanding; (e)
Liens securing the Company’s obligations under this Note; (f) leases or subleases and licenses and
sublicenses granted to others in the ordinary course of the Company’s business, not interfering in
any material respect with the business of the Company and its Subsidiaries; (g) Liens arising from
or securing judgments, decrees or attachments (or bonds securing same) in circumstances not
constituting an Event of Default, so long as such Lien is adequately bonded and any appropriate
legal proceedings which may have been duly initiated for the review of such judgment shall not have
been finally terminated or the period within such proceedings may be initiated shall not have
expired; and (h) Liens existing on the date hereof and set forth on Schedule 3(w) hereto.

          (w) “Person” means an individual, a limited liability company, a partnership, a joint venture,
a corporation, a trust, an unincorporated organization, any other entity and a government or any
department or agency thereof.

 

 

          (x) “Property” means any right or interest in or to property of any kind whatsoever, whether
real, personal or mixed and whether tangible or intangible, including, without limitation, Capital
Stock.

          (y) “Redemption Premium” means 120% of the Principal amount; provided, however, that the
Redemption Premium shall not be applicable if the redemption is in connection with the Change of
Control that results in the payment of consideration to the holders of Common Stock of the
Companies equal to or exceeding $1.75 per share (as adjusted for any combinations, splits,
recapitalizations and the like with respect to such shares).

          (z) “Registrable Securities” shall have the meaning set forth in the Registration Rights
Agreement.

          (aa) “Registration Rights Agreement” means that certain registration rights agreement dated as
of the First Closing Date by and among the Companies and the initial holders of the Term Notes.

          (bb) “Registration Statement” shall have the meaning set forth in the Registration Rights
Agreement.

          (cc) “Required Holders” means the Holders of Term Notes representing at least a majority of
the aggregate principal amount of the Term Notes then outstanding.

          (dd) “Securities Purchase Agreement” means that certain securities purchase agreement dated as
of the Closing Date by and among the Companies and the initial holder of the Term Notes.

          (ee) “Security Agreement” means that certain Pledge and Security Agreement dated as of First
Closing Date by and among the Companies and the initial holders of the Term Notes.

          (ff) “Security Documents” means the Security Agreement, the Mortgages, if any, and all other
instruments, documents and agreements delivered by any of the Companies or any of their
Subsidiaries in order to grant to any holder of a Term Note, a Lien on any real, personal or mixed
Property of the Companies or one of their Subsidiaries as security for the obligations under the
Term Notes.

          (gg) “Shareholders’ Equity” means, as of any date of determination, consolidated shareholders’
equity of the Companies and their Subsidiaries as of that date determined in accordance with GAAP.

          (hh) “State of Registration” means the United States or such other jurisdiction agreed to in
writing, from time to time, by the Holder and the Companies in which the assets of any of the
Companies is from time to time registered in accordance with the terms of this Term Note.

 

 

          (ii) “Subsidiary” means any other corporation, limited partnership or other business entity in
which any of the Companies or any Subsidiary thereof owns or controls any equity security or other
interest.

          (jj) “Successor Entity” means the Person, which may be any of the Companies, formed by,
resulting from or surviving any Fundamental Transaction or the Person with which such Fundamental
Transaction shall have been made.

     23. DISCLOSURE. Upon receipt or delivery by any of the Companies of any notice in
accordance with the terms of this Term Note, unless Parent has in good faith determined that the
matters relating to such notice do not constitute material, nonpublic information relating to
itself, the other Companies or their Subsidiaries, Parent shall within one (1) Business Day after
any such receipt or delivery publicly disclose such material, nonpublic information on a Current
Report on Form 8-K or otherwise. In the event that Parent believes that a notice contains
material, nonpublic information relating to itself, the other Companies or their Subsidiaries,
Parent shall so indicate to the Holder contemporaneously with delivery of such notice, and in the
absence of any such indication, the Holder shall be allowed to presume that all matters relating to
such notice do not constitute material, nonpublic information relating to Parent or its
Subsidiaries.

     24. JOINDER. The Companies shall notify the Holder within fifteen (15) days after the
formation or acquisition of any Subsidiaries. For any Subsidiaries of the Companies formed or
acquired after the Issuance Date, the Companies shall at their own expense and, if not previously
completed, within fifteen (15) days after notice of such event is required to be provided, cause
each such Subsidiary to execute an instrument of joinder (a “Joinder Agreement”) in form and
substance reasonably acceptable to the Holder obligating such Subsidiary to any or all of the
Transaction Documents deemed necessary or appropriate by the Holder and cause the applicable
Company that owns the equity interests of such Subsidiary to pledge to the Holder 100% of the
equity securities owned by it of each such Subsidiary formed in the United States (and 65% of the
equity securities of any Subsidiary formed outside the United States formed) or acquired after the
Issuance Date and execute and deliver all documents or instruments required thereunder or
appropriate to perfect the security interest created thereby. In the event a party becomes a
Company (the “New Company”) pursuant to the Joinder Agreement, upon such execution the New Company
shall be bound by all the terms and conditions hereof and the other Transaction Documents to the
same extent as though such New Company had originally executed this Term Note and the other
Transaction Documents. The addition of the New Company shall not in any manner affect the
obligations of the other Companies hereunder or thereunder. Each Company hereto acknowledges that
the schedules and exhibits hereto may be amended or modified in connection with the addition of any
New Company to reflect information relating to such New Company.

[Signature Pages Follow]

 

 

     IN WITNESS WHEREOF, each of the Companies has caused this Term Note to be duly executed as of
the Issuance Date set out above.

	 	 	 	 	 
	 	 	COMPANIES:
	 
	 	 	 	 
	 	 	MERGE HEALTHCARE INCORPORATED
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	 	 	CEDARA SOFTWARE (USA) LIMITED
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	 	 	MERGE eMED, INC.
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	 	 	CEDARA SOFTWARE CORP.
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	 	 	CEDARA SOFTWARE LIMITED
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 

 

 

	 	 	 	 	 
	 
	 	 	 	 
	 	 	eFILM MEDICAL INC.
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	 	 	MERGE CEDARA EXCHANGECO. LIMITED
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	 	 	MERGE TECHNOLOGIES HOLDINGS CO.
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]