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Exhibit 10.1(a)    
    

        PARTICIPATION AGREEMENT

Dated as of June 15, 2003 

among 

SABRE INC.,
as Lessee, 

SABRE HOLDINGS CORPORATION,
 as Lessee Guarantor, 

CSL LEASING INC.,
as Lessor, 

THE INSTITUTIONAL INVESTORS NAMED

ON SCHEDULE II,
as Purchasers, 

and 

WILMINGTON TRUST COMPANY,
as Indenture Trustee 

  

 
 

Table of Contents    
    

	Section Heading
 
	 	Page

	Parties	 	1
	Recitals	 	1
	ARTICLE I	 	DEFINITIONS; INTERPRETATION	 	1
	ARTICLE II	 	DOCUMENTATION DATE	 	1
	 	Section 2.1	 	 	Documentation Date	 	1
	ARTICLE III	 	FUNDING OF ADVANCES	 	4
	 	Section 3.1	 	 	Advances	 	4
	 	Section 3.2.	 	 	Lessor Commitment	 	4
	 	Section 3.3	 	 	Purchasers' Commitments	 	4
	 	Section 3.4.	 	 	Procedures for Advances	 	4
	ARTICLE IV	 	YIELD; INTEREST; FEES	 	5
	 	Section 4.1.	 	 	Yield; Lessor Amount	 	5
	 	Section 4.2.	 	 	Interest and Principal on Notes	 	5
	 	Section 4.3	 	 	Payments of Rent; Payments and Prepayments of Notes and Lessor Amounts	 	6
	 	Section 4.4.	 	 	Fees	 	6
	 	Section 4.5.	 	 	Place and Manner of Payments	 	6
	ARTICLE V	 	CERTAIN INTENTIONS OF THE PARTIES	 	7
	 	Section 5.1.	 	 	Nature of Transaction	 	7
	 	Section 5.2.	 	 	Amounts Due under the Lease	 	7
	ARTICLE VI	 	CONDITIONS PRECEDENT: ACQUISITION DATE	 	8
	 	Section 6.1.	 	 	Acquisition Date	 	8
	 	Section 6.2.	 	 	Delivery of Documents	 	11
	ARTICLE VII	 	DISTRIBUTIONS	 	11
	 	Section 7.1.	 	 	Basic Rent	 	11
	 	Section 7.2.	 	 	Purchase Payments by the Lessee	 	11
	 	Section 7.3.	 	 	Payment of Maximum Recourse Amount	 	11
	 	Section 7.4.	 	 	Sales Proceeds of Remarketing of the Property; RVI Policy Proceeds	 	12
	 	Section 7.5.	 	 	Supplemental Rent	 	12
	 	Section 7.6.	 	 	Distribution of Payments after Lease Event of Default	 	12
	 	Section 7.7.	 	 	Casualty and Condemnation Amounts	 	13
	 	Section 7.8.	 	 	Other Payments	 	13
	 	Section 7.9.	 	 	Order of Application	 	14
	 	Section 7.10.	 	 	Payments to Account	 	14
	 	 	 	 	 	 

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	ARTICLE VIII	 	REPRESENTATIONS	 	14
	 	Section 8.1.	 	 	Representations of the Purchasers	 	14
	 	Section 8.2.	 	 	Representations of the Lessee	 	15
	 	Section 8.3.	 	 	Representations of the Lessor	 	20
	 	Section 8.4.	 	 	Representations of the Indenture Trustee	 	21
	ARTICLE IX	 	PAYMENT OF CERTAIN EXPENSES	 	22
	 	Section 9.1.	 	 	Transaction Expenses	 	22
	 	Section 9.2.	 	 	Brokers' Fees and Stamp Taxes	 	22
	 	Section 9.3.	 	 	Indenture and Related Obligations	 	22
	ARTICLE X	 	OTHER COVENANTS AND AGREEMENTS	 	23
	 	Section 10.1.	 	 	Covenants of the Lessee and the Lessee Guarantor	 	23
	 	Section 10.2.	 	 	Prepayment upon Change in Control	 	29
	 	Section 10.3.	 	 	Covenants of Lessor	 	32
	 	Section 10.4.	 	 	Release of Property	 	32
	ARTICLE XI	 	[INTENTIONALLY OMITTED]	 	33
	ARTICLE XII	 	TRANSFERS OF PARTICIPANTS' INTERESTS	 	33
	 	Section 12.1.	 	 	Transfers of Notes	 	33
	 	Section 12.2.	 	 	Transfers by Lessor	 	33
	 	Section 12.3.	 	 	Withholding Taxes; Disclosure of Information	 	34
	ARTICLE XIII	 	INDEMNIFICATION	 	34
	 	Section 13.1.	 	 	General Indemnification	 	34
	 	Section 13.2.	 	 	End of Term Indemnity	 	36
	 	Section 13.3.	 	 	Environmental Indemnity	 	36
	 	Section 13.4.	 	 	Proceedings in Respect of Claims	 	38
	 	Section 13.5.	 	 	General Tax Indemnity	 	38
	 	Section 13.6.	 	 	Indemnity Payments in Addition to Lease Obligations	 	43
	 	 	 	 	 	 

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	ARTICLE XIV	 	[INTENTIONALLY RESERVED]	 	43
	ARTICLE XV	 	MISCELLANEOUS	 	43
	 	Section 15.1.	 	 	Survival of Agreements	 	43
	 	Section 15.2.	 	 	No Broker, Etc.	 	43
	 	Section 15.3.	 	 	Notices	 	43
	 	Section 15.4.	 	 	Counterparts	 	44
	 	Section 15.5.	 	 	Amendments, Etc.	 	44
	 	Section 15.6.	 	 	Headings, Etc.	 	45
	 	Section 15.7.	 	 	Parties in Interest	 	45
	 	Section 15.8.	 	 	Governing Law	 	45
	 	Section 15.9.	 	 	Severability	 	45
	 	Section 15.10.	 	 	Submission to Jurisdiction	 	45
	 	Section 15.11.	 	 	No Participant Responsible for Other Participants	 	45

	Appendix A	 	Definitions
	Schedule I	 	Commitments
	Schedule II	 	Notice and Payment Information
	Exhibit A-1	 	Form of Legal Opinion of In-House Counsel to Lessee and Lessee Guarantor
	Exhibit A-2	 	Form of Legal Opinion of Special Counsel to Lessee and Lessee Guarantor
	Exhibit A-3	 	Form of Legal Opinion of In-House Counsel to Lessor and Lessor Parent
	Exhibit A-4	 	Form of Legal Opinion of Special Counsel to Lessor and Lessor Parent
	Exhibit A-5	 	Form of Legal Opinion of Special Counsel to Indenture Trustee
	Exhibit B	 	Form of Funding Request
	Exhibit C	 	Form of Master Lease
	Exhibit D	 	Form of Indenture
	Exhibit E	 	Form of Local Counsel Opinion
	Exhibit F	 	Form of Assignment of Lease and Rent
	Exhibit G	 	Form of Deed of Trust
	Exhibit H	 	Form of Guaranty
	Exhibit I	 	Form of Indemnity Agreement
	Schedule 8.2(c)	 	Disclosure
	Schedule 8.2(g)	 	Litigation

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PARTICIPATION AGREEMENT    
    

        THIS PARTICIPATION AGREEMENT (this "Participation Agreement"),
dated as of June 15, 2003, is entered into by and among SABRE INC., a Delaware corporation, as Lessee, (the  "Lessee"); SABRE HOLDINGS
CORPORATION, a Delaware corporation, as Lessee Guarantor, (the  "Lessee Guarantor"); CSL LEASING INC., a Delaware corporation, as Lessor (the
 "Lessor"); the Institutional Investors named on Schedule II hereto, as Purchasers (each, a "Purchaser",
and together with any other holder of a Note the "Purchasers"); and WILMINGTON TRUST COMPANY, a Delaware
banking corporation, as Indenture Trustee (the "Indenture Trustee"). 

 
 

WITNESSETH:    
    

        WHEREAS, on the Acquisition Date, the Lessor will acquire legal title to the Property from one or more third
parties designated by the Lessee; 

        WHEREAS, the Lessor desires to lease the Property to the Lessee, and the Lessee desires to lease the Property from the Lessor; 

        WHEREAS, the Lessor is willing to provide a portion of the funding of the costs of the acquisition of legal title to the Property; 

        WHEREAS, the Purchasers are willing to provide the remaining portion of the funding of the costs of the acquisition of legal title to the
Property; and 

        WHEREAS, to secure such financing (a) the Lessor will have the benefit of a first priority Lien on the Property and (b) the Indenture
Trustee, on behalf of the Purchasers will have the benefit of (i) a first priority Lien on all of the Lessor's right, title and interest in the Property and (ii) an assignment of the Lessor's rights
against the Lessee under the Lease and the Lessee Guarantor under the Guaranty; 

        NOW THEREFORE, in consideration of the mutual agreements contained in this Participation Agreement and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

 
 

ARTICLE I
  DEFINITIONS; INTERPRETATION    
    

        Unless the context shall otherwise require, capitalized terms used and not defined herein shall have the meanings assigned thereto in Appendix A hereto for all
purposes hereof (as such Appendix A may be amended, supplemented, amended and restated or otherwise modified from time to time, "Appendix A to this Participation
Agreement"); and the rules of interpretation set forth in Appendix A to this Participation Agreement shall apply to this Participation Agreement. 

 
 

ARTICLE II
  DOCUMENTATION DATE    
    

        Section 2.1. Documentation Date.    The Documentation Date (the "Documentation
Date") shall be deemed to have occurred and all rights and obligations of the parties to the Operative Documents (each subject to any conditions specified therein) shall be in
effect, upon satisfaction or waiver of each of the following conditions precedent: 

        (a)   Participation Agreement. This Participation Agreement shall have been duly authorized, executed and delivered by the
parties hereto; 

        (b)   Master Lease. The Master Lease shall have been duly authorized, executed and delivered by the parties thereto; 

        (c)   Guaranty. The Guaranty shall have been duly authorized, executed and delivered by the Lessee Guarantor; 

 

        (d)   Indenture. The Indenture shall have been duly authorized, executed and delivered by the parties thereto; 

        (e)   Assignment of Lease and Rent. The Assignment of Lease and Rent shall have been duly authorized, executed and delivered by
the Lessor, as assignor, to the Indenture Trustee, as assignee, and the Assignment of Lease and Rent shall have been consented to and acknowledged by the Lessee; 

        (f)    Deed of Trust. The Deed of Trust shall have been duly authorized, executed and delivered by the Lessor, as grantor, to
the trustee named therein for the benefit of the Indenture Trustee, as beneficiary; 

        (g)   Indemnity Agreement. The Indemnity Agreement shall have been duly authorized, executed and delivered by the Lessor
Parent; 

        (h)   Transaction Expenses and Fees. The applicable Person shall have received all Fees payable to such Person on the
Documentation Date and all Transaction Expenses, to the extent then invoiced, shall have been paid; 

        (i)    Corporate Documents; Certificates. The Lessee and the Lessee Guarantor shall each have delivered, or shall each have
caused to be delivered, to the Indenture Trustee and each Participant the following: 

        (i)    Certificate of Incorporation. Copies of its certificate of incorporation, certified as of a recent date by the
appropriate Governmental Authority of the jurisdiction of its incorporation; 

        (ii)   Resolutions. Copies of resolutions or other authority documentation of its Board of Directors approving and adopting the
Operative Documents, the transactions contemplated therein and authorizing execution and delivery thereof, certified by a secretary or assistant secretary as of the Documentation Date to be true and
correct and in full force and effect as of such date; 

        (iii)  Bylaws. A copy of its bylaws certified by its secretary or assistant secretary as of the Documentation Date to be true
and correct and in full force and effect as of such date; 

        (iv)  Good Standing. Copies of a certificate of good standing, existence or its equivalent for it, certified as of a recent
date by the appropriate Governmental Authority of the jurisdiction of its incorporation; and 

        (v)   Opinions of Counsel. Opinions of counsel for the Lessee and the Lessee Guarantor addressed to the Indenture Trustee and
each of the Participants, covering the matters set forth respectively in Exhibits A-1 and A-2 and such
other matters as any Participant may reasonably request; 

        (j)    Lessor Corporate Documents; Certificates. The Lessor and the Lessor Parent shall have delivered, or shall have caused to
be delivered to each of the other parties hereto the following: 

        (i)    Certificate of Incorporation. Copies of its certificate of incorporation, certified as of a recent date by the
appropriate Governmental Authority of its jurisdiction of incorporation; 

        (ii)   Resolutions. Copies of resolutions of its Board of Directors approving and adopting the Operative Documents to which it
is or is to be a party, the transactions contemplated therein and authorizing execution and delivery thereof, certified by its secretary or assistant secretary as of the Documentation Date to be true
and correct and in full force and effect as of such date; 

        (iii)  Bylaws. A copy of its bylaws certified by its secretary or assistant secretary as of the Documentation Date to be true
and correct and in full force and effect as of such date; 

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        (iv)  Good Standing. A copy of a certificate of good standing, existence or its equivalent, certified as of a recent date by
the appropriate Governmental Authority of its jurisdiction of incorporation; and 

        (v)   Opinions of Counsel. Opinions of counsel for the Lessor and the Lessor Parent addressed to the Indenture Trustee and each
of the Purchasers, covering the matters set forth respectively in Exhibits A-3 and A-4; 

        (k)   Representations and Warranties. On the Documentation Date, the representations and warranties of each of the parties
hereto contained in Sections 8.1, 8.2 and 8.3 shall be true and correct as though made on and as of such date, except to the extent such representations or warranties relate solely to an
earlier date, in which case such representations and warranties shall have been true and correct on and as of such earlier date and each of the Lessee, the Lessee Guarantor and the Lessor shall have
delivered a certificate to such effect with respect to its representations and warranties; 

        (l)    No Default. No Default or Event of Default shall have occurred and be continuing on the Documentation Date unless such
Default or Event of Default shall have been waived in accordance with the Operative Documents; 

        (m)  Governmental Approvals. All Governmental Actions required by any Requirement of Law for the purpose of authorizing the
Lessee, the Lessee Guarantor, the Indenture Trustee, each Participant and the Lessor Parent to enter into the Operative Documents shall have been obtained or made and be in full force and effect; 

        (n)   Litigation. No action or proceeding shall have been instituted or threatened, nor shall any Governmental Action be
instituted or threatened before any Governmental Authority, nor shall any order, judgment or decree have been issued or proposed to be issued by any Governmental Authority, to set aside, restrain,
enjoin or prevent the performance of this Participation Agreement or any transaction contemplated hereby or by any other Operative Document or which is reasonably likely, in the sole opinion of each
Participant, to have a Material Adverse Effect; 

        (o)   Indenture Trustee Corporate Documents; Certificates. The Indenture Trustee shall have delivered, or shall have caused to
be delivered to each of the other parties hereto the following: 

        (i)    Certificate of Incorporation. Copies of its certificate of incorporation, certified as of a recent date by the
appropriate Governmental Authority of its jurisdiction of incorporation; 

        (ii)   Resolutions. Copies of resolutions of its Board of Directors approving and adopting the Operative Documents to which it
is or is to be a party, the transactions contemplated therein and authorizing execution and delivery thereof, certified by its secretary or assistant secretary as of the Documentation Date to be true
and correct and in full force and effect as of such date; 

        (iii)  Bylaws. A copy of its bylaws certified by its secretary or assistant secretary as of the Documentation Date to be true
and correct and in full force and effect as of such date; 

        (iv)  Good Standing. A copy of a certificate of good standing, existence or its equivalent, certified as of a recent date by
the appropriate Governmental Authority of its jurisdiction of incorporation; and 

        (v)   Opinion of Counsel. Opinions of counsel for the Indenture Trustee addressed to each of the Participants, covering the
matters set forth in Exhibit A-5; 

        (p)   Requirements of Law. In the opinion of each Participant, no change shall have occurred or been proposed in Applicable Law
that would make it uneconomic or illegal for any party to any Operative Document to participate in any of the transactions contemplated by the Operative 

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Documents
or otherwise would prohibit the consummation of any transaction contemplated by the Operative Documents or expand the duties, obligations and risks of any Participant. 

        All
documents and instruments required to be delivered pursuant to this Section 2.1 shall be delivered at the offices of Schiff Hardin & Waite, 623 Fifth Avenue, 28th Floor, New York,
New York 10022 or at such other location as may be determined by the Lessee, the Lessor and the Purchasers and in such numbers as shall be reasonably requested. Unless otherwise agreed among the
Lessee, the Lessor and the Purchasers, the Documentation Date shall coincide with the Acquisition Date. 

 
 

ARTICLE III
  FUNDING OF ADVANCES    
    

        Section 3.1. Advances.    Subject to the conditions and terms hereof, the Lessor shall take the following actions at the written
request of the Lessee: 

        (a)   the
Lessor shall make Advances (out of funds provided by itself and the Purchasers) for the purpose of financing the acquisition by the Lessor of legal title to the
Property and the payment of Transaction Expenses and Fees relating thereto; and 

        (b)   the
Lessor shall lease the Property to the Lessee under the Master Lease and the Lease Supplement. 

Notwithstanding
any other provision hereof, (i) no Advance shall be made after the Acquisition Date and (ii) the Participants shall not be obligated to make any Advance if, after giving effect
thereto, (x)
the aggregate outstanding amounts of the Notes and the Lessor Amounts would exceed the Aggregate Commitment Amount or (y) the Property Cost would exceed the Fair Market Sales Value of the Property as
set forth in the Appraisal thereof delivered pursuant to Section 6.1(d) hereof. 

        Section 3.2. Lessor Commitment.    Subject to the conditions and terms hereof, on the Acquisition Date, the Lessor shall make
available at the written request of the Lessee an amount (a "Lessor Amount") in immediately available funds equal to the Lessor's Commitment Percentage
of the amount of the Advance being funded on the Acquisition Date. Notwithstanding any other provision hereof, the Lessor shall not be obligated to make available any Lessor Amount if, after giving
effect to the proposed Lessor Amount, the outstanding aggregate amount of the Lessor Amounts would exceed the Lessor Commitment. 

        Section 3.3. Purchasers' Commitments.    Subject to the conditions and terms hereof, on the Acquisition Date, the Lessor will
deliver to each Purchaser the Notes of the series to be purchased by such Purchaser in the form of a single Note of such series (or such greater number of Notes of such series in denominations of at
least $10,000 as such Purchaser may request) dated the Acquisition Date and registered in such Purchaser's name (or in the name of such Purchaser's nominee), against delivery by such Purchaser to the
Lessor or its order of immediately available funds in the amount of the purchase price therefor by wire transfer of immediately available funds for the account of the Lessor. If on the Acquisition
Date the Lessor shall fail to tender such Notes to any Purchaser as provided above in this Section 3.3, or any of the conditions specified in Section 6.1 shall not have been fulfilled to any
Purchaser's satisfaction, such Purchaser shall, at its election, be relieved of all further obligations under this Participation Agreement and the other Operative Documents, without thereby waiving
any rights such Purchaser may have by reason of such failure or such nonfulfillment. Notwithstanding any other provision hereof, no Purchaser shall be obligated to purchase any Note if, after giving
effect to such proposed purchase, the aggregate principal amount of Notes purchased by such Purchaser would exceed such Purchaser's Commitment. 

        Section 3.4. Procedures for Advances.    (a) With respect to the Acquisition Date, the Lessee shall give the Lessor, the
Indenture Trustee and each Purchaser prior written notice pursuant to a Funding 

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Request
substantially in the form of Exhibit B (a "Funding Request"), which Funding Request shall be
delivered not later than 11:00 a.m. (New York time), one (1) Business Day prior to the proposed Acquisition Date. Such Funding Request shall set forth (i) the proposed Acquisition Date, (ii) the
amount of the Advance requested, (iii) a description of the Property to which the Funding Request relates, (iv) the seller of the Property, (v) the principal amount of the Notes of each series to be
purchased by each Purchaser and (vi) wire transfer instructions for the disbursement of the proceeds of such Advance. Subject to timely delivery of a Funding Request and the other terms and conditions
of the Operative Documents, (x) each Purchaser shall purchase Notes representing its Commitment Percentage and transmit the proceeds therefore to the Indenture Trustee at the Account by 2:00 p.m.,
(New York time) on the requested Acquisition Date and (y) the Lessor shall make its Commitment Percentage of the requested Advance available to the Indenture Trustee at the Account by 2:00 p.m. (New
York time) on the requested Acquisition Date. Promptly upon the Indenture Trustee's receipt of such funds from the Participants, and upon satisfaction
of all conditions precedent, the Indenture Trustee shall wire such funds on the Acquisition Date to the Persons entitled thereto and to such accounts as the Lessee shall have indicated in the Funding
Request. The Advance shall consist of (i) a Lessor Amount equal to 5.75% of such Advance and (ii) proceeds from the sale of the Notes in an aggregate amount equal to 94.25% of such Advance, such Notes
to be allocated between Series A Notes and Series B Notes in accordance with Schedule I hereto. 

        (b)   Except
as the Participants may otherwise agree in writing, Advances shall be made solely to pay the Property Cost of the Property and related Fees and Transaction
Expenses. 

 
 

ARTICLE IV
  YIELD; INTEREST; FEES    
    

        Section 4.1. Yield; Lessor Amount.    (a) The amount of the Lessor Amounts outstanding from time to time shall accrue yield
("Yield") at the Yield Rate (computed on the basis of a 360-day year of twelve 30-day months), payable semiannually in arrears on each Scheduled Payment
Date. If all or any portion of the Lessor Amounts, Make-Whole Amount, if any, any Yield payable thereon or any other amount payable hereunder with respect thereto shall not be paid when due (whether
at stated maturity, acceleration thereof or otherwise), such overdue amount shall bear interest at a rate per annum which is equal to the Overdue Rate. 

        (b)   The
Indenture Trustee shall distribute, in accordance with Article VII, the Lessor Basic Rent and all other amounts due with respect to the Lessor Amounts paid to the
Indenture Trustee by the Lessee under the Lease from time to time. 

        (c)   If
not repaid sooner, the aggregate outstanding Lessor Amounts shall be repaid in full on the Maturity Date, subject to the provisions of Article XX of the Master Lease. 

        Section 4.2. Interest and Principal on Notes.    (a) Each Note shall accrue interest at the rate of 5.37% (computed on the basis
of a 360-day year of twelve 30-day months), payable semiannually in arrears on each Scheduled Payment Date. If all or any portion of the principal, Make-Whole Amount, if any, or interest on the Notes
or any other amount payable hereunder to the Purchasers shall not be paid when due (whether at stated maturity, acceleration thereof or otherwise), such overdue amount shall bear interest at a rate
per annum which is equal to the Overdue Rate. Each Note shall become due and payable at the dates and times provided under the Indenture. 

        (b)   The
Indenture Trustee shall distribute, in accordance with Article VII, the Purchaser Basic Rent and all other amounts due with respect to the Notes paid to the
Indenture Trustee by the Lessee under the Lease from time to time. 

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        (c)   If
not repaid sooner, the aggregate outstanding principal amount of the Notes, together with accrued and unpaid interest thereon and all other amounts then due and owing
to the Purchasers under the Operative Documents, shall be repaid in full on the Maturity Date. 

        Section 4.3. Payments of Rent; Payments and Prepayments of Notes and Lessor Amounts.    (a)  Direction. The Lessor hereby directs the Lessee to pay to the Indenture Trustee the Rent from time to time (other than Excepted Payments, which the
Lessor hereby directs the Lessee to make directly to the applicable Person entitled thereto). 

        (b)   Application. All amounts payable by the Lessee pursuant to Article XIV, XV, XVI, XVIII or XX of the Master Lease shall be
applied to the Notes and the Lessor Amounts in the manner set forth in Article VII hereof. 

        (c)   Notice. The Lessor shall give written notice of any prepayment of the Notes to each Purchaser (with a copy to the
Indenture Trustee) specifying (a) the date of such prepayment and the section of this Participation Agreement or other Operative Document under which the prepayment is to be made, (b) the principal
amount of the Notes to be prepaid on such date and (c) the estimated Make-Whole Amount, if any, and accrued interest applicable to the prepayment and, whether or not any Make-Whole Amount is payable,
a reasonably detailed computation of such estimated Make-Whole Amount, if any. Any notice of prepayment of the Notes pursuant to Section 6.3 or 6.4 of the Indenture shall be given not less than 30
days nor more than 180 days before the date for such prepayment. Any notice of prepayment of the Notes pursuant to Sections 6.3 or 6.4 of the Indenture shall be irrevocable. Notice of prepayment
having been so given, the aggregate principal amount of the Notes specified in such notice, together with Make-Whole Amount, if any, and accrued interest thereon shall become due and payable on the
prepayment date. If the prepayment of the Notes is to be made pursuant to Section 6.3 or 6.4 of the Indenture, then and in such event the Lessor shall cause the Lessee not later than two (2) Business
Days prior to the prepayment date to give the Lessor, each Purchaser and the Indenture Trustee written notice of the Make-Whole Amount, if any, payable in connection with such prepayment and, whether
or not any Make-Whole Amount is payable, a reasonably detailed computation of the Make-Whole Amount, if any. All prepayments shall be payable on a Business Day. 

        Section 4.4. Fees.    The Lessee agrees to pay the fees set forth in this Section 4.4 (collectively, the  "Fees"), which as to the Structuring Fee may be paid out of Advances. 

        (a)   Structuring Fee. The Lessee agrees to pay to the Arranger on the Documentation Date the fee (the  "Structuring Fee") in the amount of specified in that certain letter
agreement dated May 14, 2003 between the Lessee and the Arranger. 

        (b)   Indenture Trustee Fees. The Lessee agrees to pay to the Indenture Trustee fees and expenses for acting as such as agreed
between the Indenture Trustee and the Lessee in the Trustee Fee Letter. 

        Section 4.5. Place and Manner of Payments.    Except as otherwise specifically provided herein, all payments by the Lessee
hereunder, under the Master Lease or under any other Operative Document shall be made to the Indenture Trustee in Dollars in immediately available funds, without offset, deduction, counterclaim or
withholding of any kind, to the Account in Wilmington, Delaware not later than 11:00 a.m. (New York time) on the date when due. Payments received after such time shall be deemed to have been received
on the next succeeding Business Day. The Lessee shall, at the time it makes any payment under any Operative Document, specify to the Indenture Trustee the Basic Rent, Property Cost, Fees, Supplemental
Rent or other amounts payable by the Lessee hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms
hereof, the Indenture Trustee shall distribute such payment to the Participants in such manner as the Indenture Trustee may determine to be appropriate in respect of obligations owing by the Lessee
subject to the terms of Article VII). The Indenture Trustee will 

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distribute
such payments to such Participants in accordance with Article VII, if any such payment is received prior to 11:00 a.m. (New York time) on a Business Day in like funds as received not later
than 1:00 p.m. (New York time) on such Business Day, and otherwise the Indenture Trustee shall distribute such payment to such Participants on the next succeeding Business Day. Whenever any payment
hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next Business Day and if paid on such next Business Day, no additional interest,
yield or late charges on such payment shall accrue. 

 
 

ARTICLE V
  CERTAIN INTENTIONS OF THE PARTIES    
    

        Section 5.1. Nature of Transaction.    (a) The parties hereto intend that unless assigned by the Lessor in accordance with the
terms of the Operative Documents, or Applicable Law otherwise provides, legal title to the Property shall remain in the Lessor as security for the obligations of the Lessee hereunder and under the
other Operative Documents until the Lessee has fulfilled all of its obligations hereunder and under the other Operative Documents. The Lessee hereby grants to the Lessor a continuing Lien and security
interest in the Property to secure the payment of all sums due hereunder and under the other Operative Documents. The parties hereto intend that for state, real estate and commercial law and
bankruptcy purposes, (i) the Lease will be treated as a financing arrangement and (ii) the Lessor and the Purchasers will be deemed lenders making loans to the Lessee in an amount equal to the sum of
the Lessor Amounts and the outstanding principal amount of the Notes, which amounts are secured by the Properties. The parties hereto covenant to treat the Notes (and interests therein) and the Lessor
Amount as indebtedness of the Lessee for U.S. federal, state and local tax purposes and further covenant that they will not take any action inconsistent with such treatment (unless either (i) required
to do so by the United States Internal Revenue Service or the equivalent taxing authority of any foreign government or any U.S. state or political subdivision thereof (a  "Taxation Authority") or (ii) an
alternative position of a Taxation Authority is asserted, and such party reasonably believes, on advice of counsel,
that there is a reasonable basis for such asserted position). Nevertheless, the Lessee acknowledges and agrees that neither the Lessor, the Indenture Trustee, the Arranger nor any of the
Purchasers has provided, or will provide, any tax, accounting, or legal advice to the Lessee regarding the Operative Documents or the transaction contemplated thereby, and that the Lessee has obtained
and relied upon such tax, accounting and legal advice concerning the Operative Documents as it deems appropriate. 

        (b)   Specifically,
without limiting the generality of clause (a) of this Section 5.1, the parties hereto intend and agree that in the event of any insolvency or receivership
proceedings or a petition under the United States bankruptcy laws or any other applicable insolvency laws or statute of the United States of America or any state or commonwealth thereof affecting the
Lessee, the Lessee Guarantor, the Lessor or the Purchasers or any collection actions, the transactions evidenced by the Operative Documents shall be regarded as loans made by the Lessor and the
Purchasers as unrelated third party lenders of the Lessee. The parties hereto covenant and agree that (except to the extent provided for in section 5.1(a) above) they will not take any action or
advocate any position contrary to the intentions set forth in this Article V. 

        Section 5.2. Amounts Due Under the Lease.    Anything herein or elsewhere to the contrary notwithstanding, it is the intention
of the Lessee, the Lessor and the Purchasers that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessee under the Lease shall be equal to the
aggregate payments due and payable as interest on the Notes and Yield on the Lessor Amounts on each Scheduled Payment Date; (ii) if the Lessee elects the Purchase Option with respect to all or (as
permitted hereunder) any part of the Property or the Lessee becomes obligated to purchase all of the Property under the Lease, the Notes, the Lessor Amounts, and all interest, Yield, Make-Whole
Amount, if any, and all other obligations of the Lessee owing to the 

7

 

Indenture
Trustee, the Lessor and the Purchasers shall be due and payable in full by the Lessee on the date set forth in the Lease; (iii) if the Lessee properly elects the Remarketing Option, the
Lessee shall only be required to pay to the Indenture Trustee the proceeds of the sale of the Property, the Maximum Recourse Amount and any amounts due pursuant to Article XIII hereof and Section 20.2
of the Master Lease (which aggregate amounts may be less than the Property Cost of the Property), together with all other due and payable Supplemental Rent; (iv) upon an Event of Default resulting in
an acceleration of the Lessee's obligation to purchase the Property, the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Property
Costs, plus all accrued interest on the Notes and Yield on the Lessor Amounts, Make-Whole Amount, if any, and other amounts then due from the Lessee
under the Operative Documents; and (v) if the Lessee elects to purchase or is required to purchase the Property pursuant to Section 14.1, Article XV or XVIII of the Master Lease, the amounts then due
and payable by the Lessee shall include all amounts necessary to pay the Property Cost of the Property, plus all accrued interest on the Notes and Yield
on the Lessor Amounts, Make-Whole Amount, if any, and other amounts then due from the Lessee under the Operative Documents. 

 
 

ARTICLE VI
  CONDITIONS PRECEDENT: ACQUISITION DATE    
    

        Section 6.1. Acquisition Date.    The closing date with respect to the acquisition of the Property (the  "Acquisition Date") shall occur on a Business Day on or after the Documentation Date (but not later than June 30, 2003) on which all the conditions
precedent thereto set forth in this Section 6.1 shall have been satisfied or waived by the applicable Persons as set forth herein. The obligation of the Lessor to acquire the Property on the
Acquisition Date, the obligation of the Lessor to make available its Lessor Amount on the Acquisition Date and the obligation of each Purchaser to purchase its Note(s) on the Acquisition Date, are
subject to satisfaction or waiver of the following conditions precedent (provided that a failure on the part of any Participant to perform or otherwise
satisfy any such condition applicable to it shall not be a condition precedent to the performance of its obligations under the Operative Documents): 

        (a)   Funding Request. Each of the Indenture Trustee and each Participant shall have received a fully executed counterpart of
the applicable Funding Request in accordance with Section 3.4. 

        (b)   Transaction Expenses. All Fees and Transaction Expenses due and payable by the Lessee to the Participants and the
Arranger shall have been paid or will be paid through Advances on the Acquisition Date. 

        (c)   Representations and Warranties. On the Acquisition Date, the representations and warranties of the Lessee and the Lessee
Guarantor set forth in Section 8.2 and the Lessor set forth in Section 8.3 shall be true and correct. 

        (d)   Appraisal. At least five (5) Business Days prior to the Acquisition Date, the Indenture Trustee and each Participant
shall have received an Appraisal of the Property, in form and substance reasonably satisfactory to such Persons, which Appraisal shall show, as of the Acquisition Date, the Fair Market Sales Value of
the Property and such other conclusions as any Participant may reasonably request. 

        (e)   Governmental Approvals. All necessary Governmental Actions (including pursuant to any Environmental Laws) required by any
Requirement of Law as of the Acquisition Date for the purpose of authorizing the Lessor to acquire the Property shall have been obtained or made and be in full force and effect. 

        (f)    Responsible Officer's Certificates. Each Participant and the Indenture Trustee shall have received a Responsible
Officer's Certificate of the Lessee and the Lessee Guarantor, addressed to 

8

 

the
Indenture Trustee and each Participant and dated the Acquisition Date, stating that (w) the representations and warranties of the Lessee or the Lessee Guarantor, as applicable, contained in
Section 8.2 hereof, are true and correct on and as of the Acquisition Date; (x) no Default or Event of Default has occurred and is continuing under any Operative Document; (y) each Operative Document
to which the Lessee or the Lessee Guarantor, as applicable, is a party is in full force and effect with respect to it; and (z) each of the Lessee and the Lessee Guarantor has duly performed and
complied with all conditions contained herein or in any other Operative Document required to be performed and complied with by it on or prior to the Acquisition Date. 

        (g)   Evidence of Insurance. Each Participant and the Indenture Trustee shall have received evidence that the insurance
maintained by the Lessee with respect to the Property satisfies the requirements set forth in Article XIII of the Master Lease setting forth the respective coverage, limits of liability, carrier,
policy number and period of coverage, and shall have received a letter and/or certificate signed by the Lessee's insurance broker confirming that the coverage with respect to the Property complies
with the requirements of Article XIII of the Master Lease. 

        (h)   Environmental Audit. At least five (5) Business Days prior to the Acquisition Date, each Participant and the Indenture
Trustee shall have received an Environmental Audit performed by an environmental consultant reasonably acceptable to such Participant and the Indenture Trustee and either addressed to such Persons or
accompanied by a letter allowing such Persons to rely thereon with respect to the Property and in form and substance reasonably satisfactory to each Participant and the Indenture Trustee and stating
that the applicable assessment has revealed no evidence of recognized environmental conditions in connection with the site except for specified matters, which matters each Participant, the Indenture
Trustee and the Lessee reasonably agree are not material. If such Environmental Audit reveals the need for additional review or testing, the Lessee shall have provided such additional assessments as
are recommended by such consultant. 

        (i)    Deed. The Lessor shall have received at least five (5) Business Days prior to the Acquisition Date a copy of the proposed
Deed with respect to the Property, and on or prior to such Acquisition Date, such Deed duly executed conveying fee simple title to the Property to the Lessor and containing customary seller's
warranties in the applicable jurisdiction and subject only to Permitted Property Liens. The legal description, tax lot designation and zoning of the Property shall be reasonably acceptable to the
Indenture Trustee and each Participant. 

        (j)    Bill of Sale. If the Property includes any Equipment, then on or prior to the Acquisition Date, the Lessor shall have
received a bill of sale (a "Bill of Sale"), conveying title to the Lessor in any Equipment comprising part of the Property. 

        (k)   Assignment of Lease and Rent. On or prior to the Acquisition Date, the Lessor shall have delivered to the Indenture
Trustee the Assignment of Lease and Rent with respect to the Property substantially in the form of Exhibit F hereto, together with a consent to and
acknowledgment of duly executed by the Lessee in proper form and substance for recording under Applicable Law and otherwise effecting the assignments anticipated by the Assignment of Lease and Rent. 

        (l)    Lease Supplement; Deed of Trust. On or prior to the Acquisition Date, the Lessee and the Lessor shall have executed and
delivered a Lease Supplement with respect to the Property and shall have delivered the original counterpart of such Lease Supplement to the Indenture Trustee, and the Lessor shall have delivered a
Deed of Trust to the Indenture Trustee with respect to the Property. 

        (m)  Financing Statements. On or prior to the Acquisition Date, the Lessee and the Lessor shall have delivered all UCC
financing statements relating to the Property as the Lessor or the Indenture Trustee may reasonably request in order to protect the interests of the Lessor under the 

9

 

Lease
relating to the Property to the extent the Master Lease constitutes a security agreement and to protect and perfect the interests of the Indenture Trustee in the Property. 

        (n)   Recordation; Search Results. The Lessor and the Indenture Trustee shall have received (x) evidence reasonably
satisfactory to it that each of (i) the Lease Supplement, (ii) the financing statements relating to the Property and (iii) the Deed of Trust relating to the Property has been, or is being, recorded or
filed in a manner sufficient to properly perfect each of their interests therein and (y) copies of file search reports from the Uniform Commercial Code filing officer in the jurisdictions (i) in which
the Property is located and (ii) in which is located the jurisdiction of incorporation of the Lessee and the Lessor, setting forth the results of such Uniform Commercial Code file searches. 

        (o)   Property Survey. On or prior to the Acquisition Date, the Lessee shall have delivered to each Participant and the
Indenture Trustee a 1999 ALTA/ACSM Survey of the Property certified to each Participant and the Indenture Trustee and the title company and otherwise in form and substance acceptable to such Persons. 

        (p)   Title Insurance. On or prior to the Acquisition Date, the Lessee shall have delivered to the Indenture Trustee and each
Participant a TLTA owners and TLTA mortgagee title insurance policy covering the Property in favor of the Lessor and the Indenture Trustee, respectively, such policies to be in the amount not less
than the Property Cost of the Property, and to be reasonably satisfactory to the Participants and the Indenture Trustee with such customary endorsements issued by the title company as a routine matter
to the extent reasonably available in the state where the Property is located and with such reinsurance or other such arrangements as the Required Participants shall require. 

        (q)   No Default. There shall not have occurred and be continuing any Default or Event of Default under any of the Operative
Documents, and no Default or Event of Default under any of the Operative Documents will have occurred after giving effect to the acquisition of the Property. 

        (r)   Opinion of Counsel and of Local Counsel to the Lessee. Each Participant and the Indenture Trustee shall have received (i)
an opinion of counsel qualified with respect to the laws of the jurisdiction in which the Property is situated, addressed to such Persons, substantially in the form of Exhibit
E and (ii) if requested by any Participant or the Indenture Trustee, opinions from such other counsel and covering such issues as they may reasonably request. 

        (s)   Plans and Specifications. The Lessor and the Indenture Trustee shall have received copies of the Plans and Specifications
for the Property, certified by the Lessee to be a true, correct and complete copy thereof as in effect on the Acquisition Date. 

        (t)    Good Standing Certificates. The Lessee and the Lessor shall have delivered to each Participant and the Indenture Trustee
a certificate of good standing (or its equivalent) to the effect that Lessee and the Lessor are duly qualified to do business in the State of Texas. 

        (u)   RVI Policy. On or prior to the Acquisition Date, there shall have been delivered to the Indenture Trustee the RVI Policy
in form and substance satisfactory to the Indenture Trustee and the Participants, together with an opinion of counsel to the RVI Provider in form and substance satisfactory to such Persons and
addressing such matters as may be reasonably requested and any other documents which the Indenture Trustee may reasonably require in connection with the RVI Policy. 

        (v)   Notes. Each Purchaser shall have received the Notes to be purchased by it, duly executed and delivered by the Lessor and
authenticated by the Indenture Trustee. 

        (w)  Private Placement Number. On or prior to the Acquisition Date, a Private Placement Number issued by Standard & Poor's
CUSIP Service Bureau (in cooperation with the Securities 

10

 

Valuation
Office of the National Association of Insurance Commissioners) shall have been obtained for the Series A Notes and the Series B Notes. 

        (x)   Additional Matters. On the Acquisition Date each Participant and the Indenture Trustee shall have received such
additional documents and instruments related to the acquisition and financing of the
Property as any of them shall reasonably request in order to establish the rights and interests of the Indenture Trustee and each Participant intended to be created under the Operative Documents in
respect of the Property. 

        Section 6.2. Delivery of Documents.    All documents and instruments required to be delivered pursuant to this Article VI shall
be delivered at the offices of Schiff Hardin & Waite, 623 Fifth Avenue, 28th Floor, New York, New York 10022, or at such other location as may be determined by the Lessor, the Purchasers and the
Lessee. 

 
 

ARTICLE VII
  DISTRIBUTIONS    
    

        Section 7.1. Basic Rent.    Each payment of Basic Rent (and any payment of interest on overdue installments of Basic Rent)
received by the Indenture Trustee shall be distributed by the Indenture Trustee, first, to the Lessor and the Purchasers pro
rata without priority of one over the other for application to, the interest due on the Notes and Yield due on the Lessor Amounts respectively, then due, and,  second, to the
Purchasers and the Lessor pro rata without priority of one over the other for application
to any overdue interest or Yield (to the extent permitted by Applicable Law). 

        Section 7.2. Purchase Payments by the Lessee.    Any payment received by the Indenture Trustee as a result of: 

        (a)   the
purchase of all of the Property in connection with the exercise of the Purchase Option under Section 18.1(a) of the Master Lease, or compliance with the obligation
to purchase (or cause its designee to purchase) all of the Property in accordance with Section 18.2 or 18.3 of the Master Lease, or 

        (b)   the
purchase of the Solana Parcel or all or a portion of the Undeveloped Parcel in connection with the exercise of the Partial Purchase Option under Section 18.1(b) of
the Master Lease, or 

        (c)   compliance
with the obligation to purchase all of the Property in accordance with Section 16.2(f) of the Master Lease, or 

        (d)   failure
to fulfill one or more of the conditions to the exercise of the Remarketing Option with respect to the Property pursuant to Section 20.1 of the Master Lease and
the receipt by the Lessor of the Lease Balance pursuant to the last paragraph of Section 20.2 of the Master Lease, or 

        (e)   the
payment of the Property Balance with respect to the Property in accordance with Article XV or XVIII of the Master Lease, 

shall
be distributed by the Indenture Trustee to the Participants pro rata without priority of one over the other, in the proportion that the
Participant Balance of each bears to the aggregate of all of the Participant Balances. 

        Section 7.3. Payment of Maximum Recourse Amount.    The payment of the Maximum Recourse Amount to the Indenture Trustee pursuant
to Section 20.2(f) of the Master Lease upon the exercise of the Remarketing Option shall be distributed pro rata without priority of one over the other
to (a) the Purchasers holding Series A Notes for application to the outstanding principal amount of the Series A 

11

 

Notes
and (b) the Lessor for application to a portion (equal to 89%) of the outstanding Lessor Balance (such portion referred to herein as the "Lessor A
Portion"). 

        Section 7.4. Sales Proceeds of Remarketing of the Property; RVI Policy Proceeds.    Any payments received by the Indenture
Trustee as (a) proceeds from the sale of the Property sold pursuant to the exercise of the Remarketing Option pursuant to Article XX of the Master Lease, together with any payment made as a result of
an End of Term Report pursuant to Section 13.2 and any amounts in excess of the Maximum Recourse Amount (other than amounts in respect of accrued and unpaid Rent) received by the Indenture Trustee
pursuant to Section 20.2(f) of the Master Lease or (b) RVI Policy Proceeds, shall (subject to the prior satisfaction of the requirements of Section 7.3 hereof) be distributed by the Indenture Trustee
in the funds so received in the following order of priority: 

        first, distributed pro rata without priority of one over the other to (a) the Purchasers
holding Series B Notes, an amount equal to the aggregate principal amount of the Series B Notes then outstanding for application to the outstanding principal amount of Series B Notes of each such
Purchaser, pro rata among such Purchasers without priority of one over the other in the proportion that the outstanding principal amount of Series B
Notes of each such Purchaser bears to the aggregate outstanding principal amount of Series B Notes and (b) the Lessor for application to a portion (equal to 11%) of the outstanding Lessor Balance
(such portion referred to herein as the "Lessor B Portion") and, in the case where the amounts so distributed shall be insufficient to pay in full as
aforesaid, then pro rata among the Purchasers and the Lessor without priority of one over the other in the proportion that the outstanding principal
amount of Series B Notes of each such Purchaser (or, as the case may be the outstanding Lessor B Portion) bears to the aggregate outstanding principal amount of Series B Notes  plus the Lessor B Portion;
provided, that in the event the amount payable to the Insured (as defined in
the RVI Policy) under the RVI Policy has been reduced due to Lessor Liens attributable to the Lessor, all amounts distributed pursuant to this clause first shall be distributed first to the Purchasers
holding Series B Notes as set forth in clause (a) above and second to the Lessor as set forth in clause (b) above; 

        second, to the extent not previously paid as required by Section 7.3 hereof, an amount equal to the Maximum Recourse Amount shall be
distributed to (a) the Purchasers holding Series A Notes and (b) to the Lessor as set forth in Section 7.3; and 

        third, if there has been a claim under the RVI Policy, an amount equal to such claim shall be distributed to the RVI Provider; and 

        fourth, the balance, if any, shall be promptly paid to the Lessee. 

        Section 7.5. Supplemental Rent.    All payments of Supplemental Rent received by the Indenture Trustee (excluding any amounts
payable pursuant to the preceding provisions of this Article VII) shall be distributed promptly by the Indenture Trustee upon receipt thereof to the Persons entitled thereto pursuant to the Operative
Documents. 

        Section 7.6. Distribution of Payments after Lease Event of Default.    (a) During the continuance of a Lease Event of Default
and subject to clause (b) below, all proceeds from the sale of the Property shall be distributed by the Indenture Trustee in the following order of priority: 

        first, so much of such payment or amount as shall be required to pay or reimburse the Indenture Trustee for any tax, fees, expense,
indemnification or other loss incurred by the Indenture Trustee (to the extent incurred in connection with any duties as the Indenture Trustee), shall be distributed to the Indenture Trustee; 

        second, so much of such payments or amounts as shall be required to pay the Participants the amounts payable to them pursuant to any
expense reimbursement or indemnification provisions of the Operative Documents shall be distributed to each such Participant without priority of one over 

12

 

the
other in accordance with the amount of such payment or payments payable to each such Person; 

        third, to the Participants for application to pay in full the Note Balance and Lessor Balance, pro
rata among the Participants without priority of one over the other in the proportion that the Participant Balance of each such Participant bears to the aggregate Participant
Balances of all Participants and, in the case where the amounts so distributed shall be insufficient to pay in full as aforesaid, then pro rata among
the Purchasers without priority of one over the other in the proportion that the Participant Balance of each such Purchaser bears to the aggregate Participant Balances of all Purchasers; 

        fourth, to the Participants and the Indenture Trustee for any other amounts payable to them under the Operative Documents,  pro rata based on the amounts payable; and

        fifth, the balance, if any, of such payment or amounts remaining thereafter shall be promptly distributed to, or as directed by, the
Lessee. 

        (b)   All
payments received and amounts realized by the Indenture Trustee in connection with any Casualty or Condemnation during the continuance of a Lease Event of Default
shall be distributed by the Indenture Trustee as follows: 

        (i)    in
the event that the Indenture Trustee (acting at the direction of the Required Participants) elects to pay all or a portion of such amounts to the Lessee for the
repair of damage caused by such Casualty or Condemnation in accordance with Section 14.2 of the Master Lease, then such amounts shall be distributed to the Lessee, and 

        (ii)   in
the event that the Indenture Trustee (acting at the direction of the Required Participants) elects to apply all or a portion of such amounts to the purchase price of
the Property in accordance with Section 14.2 and Article XV of the Master Lease, then such amounts shall be distributed in accordance with Section 7.6(a). 

        (c)   All
amounts (other than amounts described in clause (a) or (b) above) received by the Indenture Trustee during the continuance of a Lease Event of Default, shall be
distributed by the Indenture Trustee in accordance with Section 7.6(a). 

        Section 7.7. Casualty and Condemnation Amounts.    Subject to Section 7.6(b), any amounts payable to the Indenture Trustee as a
result of a Casualty or Condemnation pursuant to Section 14.2 of the Master Lease and the Assignment of Lease and Rent shall be distributed as follows: 

        (a)   all
amounts payable to the Lessee in accordance with Section 14.2(b) of the Master Lease shall be distributed to the Lessee, and 

        (b)   all
amounts that are to be applied to the purchase price of the Property in accordance with Section 14.2(a) and Article XV of the Master Lease shall be distributed by
the Indenture Trustee to the Purchasers and the Lessor pro rata without priority of one over the other, in the proportion that the Participant Balance
of each bears to the aggregate of all of the Participant Balances. 

        Section 7.8. Other Payments.    (a) Except as otherwise provided in Sections 7.1, 7.2, 7.6 and clause (b) below, any payment
received by the Indenture Trustee for which no provision as to the application thereof is made in the Operative Documents or elsewhere in this Article VII (including any balance remaining after the
application in full of amounts to satisfy any expressed provision) shall be distributed pro rata among the Participants without priority of one over the
other, in the proportion that the Participant Balance of each bears to the aggregate of all the Participant Balances. 

        (b)   Except
as otherwise provided in Sections 7.1, 7.2 and 7.6, all payments received and amounts realized by the Indenture Trustee or the Lessor under the Master Lease or
otherwise with respect to 

13

 

the
Property to the extent received or realized at any time after the indefeasible payment in full of the Participant Balances of all of the Participants and any other amounts due and owing to the
Participants, shall be distributed forthwith by the Indenture Trustee or the Lessor, as the case may be, in the order of priority set forth in Section 7.6(a). 

        (c)   Except
as otherwise provided in Sections 7.1 and 7.2, any payment received by the Indenture Trustee or the Lessor for which provisions as to the application thereof is
made in an Operative Document but not elsewhere in this Article VII shall be distributed forthwith by the Lessor or the Indenture Trustee to the Person and for the purpose for which such payment was
made in accordance with the terms of such Operative Document. 

        Section 7.9. Order of Application.    To the extent any payment made to any Participant pursuant to Sections 7.2, 7.3, 7.4, 7.6,
7.7 or 7.8 is insufficient to pay in full the Participant Balance of such Participant, then each such payment shall first be applied to accrued and unpaid interest or Yield, second to the Make-Whole
Amount, if any, on the Notes and the Lessor Amounts and then to principal of the Notes or the Lessor Amounts, as applicable. 

        Section 7.10. Payments to Account.    All payments made to the Indenture Trustee pursuant to the Operative Documents shall be
made to the Account. 

 
 

ARTICLE VIII
  REPRESENTATIONS    
    

        Section 8.1. Representations of the Purchasers.    Each Purchaser represents and warrants to the other parties hereto that: 

        (a)   Source of Funds. At least one of the following statements is an accurate representation as to each source of funds (a  "Source") to be used by such Purchaser to pay the
purchase price of the Notes to be purchased by such Purchaser hereunder: 

        (i)    the
Source is an "insurance company general account" within the meaning of Department of Labor Prohibited Transaction Exemption
("PTE") 95-60 (issued July 12, 1995) and there is no employee benefit plan, treating as a single plan, all plans maintained by the same employer or
employee organization, with respect to which the amount of the general account reserves and liabilities for all contracts held by or on behalf of such plan, exceeds 10% of the total reserves and
liabilities of such general account (exclusive of separate account liabilities) plus surplus, as set forth in the NAIC Annual Statement for such Purchaser filed with such Purchaser's state of
domicile; or 

        (ii)   the
Source is either (1) an insurance company pooled separate account, within the meaning of PTE 90-1 (issued January 29, 1990) or (2) a bank collective investment
fund, within the meaning of the PTE 91-38 (issued July 12, 1991) and, except as such Purchaser has disclosed to the Company in writing pursuant to this paragraph (ii), no employee benefit plan or
group of plans maintained by the same employer or employee organization beneficially owns more than 10% of all assets allocated to such pooled separate account or collective investment fund; or 

        (iii)  the
Source constitutes assets of an "investment fund" (within the meaning of Part V of the QPAM Exemption) managed by a "qualified professional asset manager" or
"QPAM" (within the meaning of Part V of the QPAM Exemption), no employee benefit plan's assets that are included in such investment fund, when combined with the assets of all other employee benefit
plans established or maintained by the same employer or by an affiliate (within the meaning of Section V(c)(1) of the QPAM Exemption) of such employer or by the same employee organization and managed
by such QPAM, exceed 20% of the total client assets managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption are satisfied, neither the QPAM nor a Person controlling or
controlled by the QPAM (applying the definition of "control" in Section V(e) of the QPAM Exemption) owns a 5% or more interest in the Lessee and (1) the identity of such 

14

 

QPAM
and (2) the names of all employee benefit plans whose assets are included in such investment fund have been disclosed to the Lessee in writing pursuant to this paragraph (iii); or 

        (iv)  the
Source is a governmental plan; or 

        (v)   the
Source is one or more employee benefit plans, or a separate account or trust fund comprised of one or more employee benefit plans, each of which has been identified
to the Lessee in writing pursuant to this paragraph (v); or 

        (vi)  the
Source does not include assets of any employee benefit plan, other than a plan exempt from the coverage of ERISA. 

As
used in this Section 8.1, the terms "employee benefit plan," "governmental plan," "party in interest" and "separate
account" shall have the respective meanings assigned to such terms in Section 3 of ERISA. 

        (b)   Securities Act. Each Purchaser is purchasing the Notes to be acquired by it for its own account or for one or more
separate accounts maintained by it or for the account of one or more pension or trust funds and not with a view to the distribution thereof, provided
that the disposition of its or their property shall at all times be within its or their control. Each Purchaser understands that the Notes have not been registered under the Securities Act and may be
resold only if registered pursuant to the provisions of the Securities Act or if an exemption from registration is available, except under circumstances where neither such registration nor such an
exemption is required by law, and that the Lessee is not required to register the Notes. 

        (c)   Tax Matters. Each Purchaser listed on Schedule II of this Participation Agreement (and any other Purchaser that is not an
assignee or a participant) represents and warrants to the other parties that (i)
it is a domestic corporation (within the meaning of Code Section 7701(a)(30)(C)) or (ii) it will provide, before it receives any payment pursuant to this Participation Agreement or any of the
Operative Documents, either: (x) a properly completed and signed IRS Form W-8ECI (or successor form) or (y) a properly completed and signed IRS Form W-8BEN (or successor form) reflecting that the
applicable withholding tax rate is equal to zero percent (0%), to the Lessee and the Indenture Trustee. 

        Section 8.2. Representations of the Lessee.    The Lessee and the Lessee Guarantor hereby represent and warrant to the other
parties hereto that: 

        (a)   Corporate Existence and Power. Each of the Lessee and the Lessee Guarantor is a corporation duly organized, validly
existing and in good standing under the laws of its jurisdiction of incorporation, and is duly qualified as a foreign corporation and is in good standing in the state of Texas and in each jurisdiction
in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. Each of the Lessee and the Lessee Guarantor has the corporate power and authority to own or hold under lease the properties it purports to own or hold under
lease, to transact the business it transacts and proposes to transact, to execute and deliver this Participation Agreement and the other Operative Documents to which it is a party and to perform the
provisions hereof and thereof. 

        (b)   Authorization, Etc. This Participation Agreement and each other Operative Document to which the Lessee or the Lessee
Guarantor is a party have been duly authorized by all necessary corporate action on the part of the Lessee or the Lessee Guarantor, as applicable, and this Participation Agreement and each other
Operative Document to which the Lessee or the Lessee Guarantor is a party constitutes a legal, valid and binding obligation of the Lessee or the Lessee Guarantor, as applicable, enforceable against
the Lessee or the Lessee Guarantor, as applicable, in accordance with its terms, except as such enforceability may be limited by (i) applicable 

15

 

bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors' rights generally and (ii) general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law). 

        (c)   Disclosure. The Lessee, through its agent, J.P. Morgan Securities Inc., has delivered to each Purchaser a copy of a
Private Placement Memorandum, dated May 14, 2003 (the "Memorandum"), relating to the Transactions. The Memorandum fairly describes, in all material
respects, the general nature of the business and principal properties of the Lessee, the Lessee Guarantor and their respective Subsidiaries. This Participation Agreement, the Memorandum, the
documents, certificates or other writings delivered to the Purchasers by or on behalf of the Lessee or the Lessee Guarantor in connection with the transactions contemplated hereby and the financial
statements referred to in Section 8.2(d) taken as a whole, do not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein not
misleading in light of the circumstances under which they were made. Except as disclosed in the Memorandum, in the Lessee Guarantor's
Quarterly Report on Form 10-Q for the quarter ended March 31, 2003 or as expressly described in Schedule 8.2(c), or in one of the documents, certificates or other writings identified therein, or in
the financial statements listed in Section 8.2(d), since December 31, 2002, there has been no change in the financial condition, operations, business, properties or prospects of the Lessee, the Lessee
Guarantor or their respective Subsidiaries except changes that, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. There is no fact known to the
Lessee or the Lessee Guarantor that could reasonably be expected to have a Material Adverse Effect that has not been set forth herein or in the Memorandum or in the other documents, certificates and
other writings delivered to the Purchasers by or on behalf of the Lessee or the Lessee Guarantor specifically for use in connection with the Transactions. All information relating to the Lessee, the
Lessee Guarantor and the Property heretofore furnished by the Lessee or the Lessee Guarantor to the Participants and any Appraiser for purposes of or in connection with this Participation Agreement
and the other Operative Documents or any transaction contemplated hereby or thereby is, and all such information hereafter furnished by the Lessee or the Lessee Guarantor to the Participants and any
such Appraiser will be, true and accurate in all material respects and does not and will not omit to state any material fact or any fact necessary to make the statements contained therein not
misleading. 

        (d)   Financial Statements. The Lessee Guarantor has delivered to each Participant copies of the financial statements of the
Lessee Guarantor and its consolidated Subsidiaries for the fiscal year ended December 31, 2002 and for the fiscal quarter ended March 31, 2003. All of said financial statements (including in each case
the related schedules and notes) fairly present in all material respects the consolidated financial position of the Lessee Guarantor and its consolidated Subsidiaries as of their respective dates and
the consolidated results of their operations and cash flows for the respective periods so specified and have been prepared in accordance with GAAP consistently applied throughout the periods involved
except as set forth in the notes thereto (subject, in the case of any interim financial statements, to normal year-end adjustments). 

        (e)   Compliance with Laws, Other Instruments, Etc. The execution, delivery and performance by the Lessee and the Lessee
Guarantor of this Participation Agreement and each other Operative Document to which the Lessee or the Lessee Guarantor is a party will not (i) contravene, result in any breach of, or constitute a
default under, or result in the creation of any Lien in respect of any property of the Lessee, the Lessee Guarantor or any Subsidiary under, any indenture, mortgage, deed of trust, loan, purchase or
credit agreement, lease, corporate charter or by-laws, or any other agreement or instrument to which the Lessee, the Lessee Guarantor or any Subsidiary is bound or by which the Lessee, the Lessee
Guarantor or any Subsidiary or any of their respective properties may be bound or affected, (ii) conflict with or result in a breach of any of the terms, conditions or 

16

 

provisions
of any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority applicable to the Lessee, the Lessee Guarantor or any Subsidiary or (iii) violate any provision
of any statute or other rule or regulation of any Governmental Authority applicable to the Lessee, the Lessee Guarantor or any Subsidiary. 

        (f)    Governmental Authorizations, Etc. No consent, approval or authorization of, or registration, filing or declaration with,
any Governmental Authority is required in connection with the execution, delivery or
performance by the Lessee and the Lessee Guarantor of this Participation Agreement or any of the other Operative Documents to which it is a party. 

        (g)   Litigation. Except as set forth on Schedule 8.2(g) hereto, there are no actions, suits or proceedings pending or, to the
knowledge of the Lessee or the Lessee Guarantor, threatened against or affecting the Lessee, the Lessee Guarantor or any Subsidiary or any property of the Lessee, the Lessee Guarantor or any
Subsidiary in any court or before any arbitrator of any kind or before or by any Governmental Authority that, individually or in the aggregate, could reasonably be expected to have a Material Adverse
Effect. 

        (h)   Observance of Agreements, Statutes and Orders. Neither the Lessee, the Lessee Guarantor nor any Subsidiary is in default
under any term of any agreement or instrument to which it is a party or by which it is bound, or any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority or is in
violation of any applicable law, ordinance, rule or regulation (including, without limitation, Environmental Laws) of any Governmental Authority, which default or violation, individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect. 

        (i)    Taxes. The Lessee, the Lessee Guarantor and each of their respective Subsidiaries have filed all tax returns that are
required to have been filed in any jurisdiction, and have paid all taxes shown to be due and payable on such returns and all other taxes and assessments levied upon them or their properties, assets,
income or franchises, to the extent such taxes and assessments have become due and payable and before they have become delinquent, except for any taxes and assessments (i) the impact of the failure to
have filed such returns is not reasonably expected to be, or the failure to pay the amounts is not, individually or in the aggregate, Material or (ii) the amount, applicability or validity of which is
currently being contested in good faith by appropriate proceedings and with respect to which the Lessee, the Lessee Guarantor or a Subsidiary, as the case may be, has established adequate reserves in
accordance with GAAP. Neither the Lessee nor the Lessee Guarantor knows of any basis for any other tax or assessment that could reasonably be expected to have a Material Adverse Effect. The charges,
accruals and reserves on the books of the Lessee, the Lessee Guarantor and their respective Subsidiaries in respect of federal, state or other taxes for all fiscal periods are adequate. The federal
income tax liabilities of the Lessee, the Lessee Guarantor and their respective Subsidiaries have been determined by the Internal Revenue Service and paid for all fiscal years up to and including the
fiscal year ended December 31, 1989. 

        (j)    Compliance with ERISA. (i) The Lessee, the Lessee Guarantor and each ERISA Affiliate have operated and administered each
Plan in compliance with all applicable laws except for such instances of noncompliance as have not resulted in and could not reasonably be expected to result in a Material Adverse Effect. Neither the
Lessee, the Lessee Guarantor nor any ERISA Affiliate has incurred any liability pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit
plans (as defined in Section 3 of ERISA), and no event, transaction or condition has occurred or exists that could reasonably be expected to result in the incurrence of any such liability by the
Lessee, the Lessee Guarantor or any ERISA Affiliate, or in the imposition of any Lien on any of the rights, properties or assets of the Lessee, the Lessee Guarantor or any ERISA Affiliate, in either
case pursuant to Title I or IV of ERISA or to such 

17

 

penalty
or excise tax provisions or to Section 401(a)(29) or 412 of the Code, other than such liabilities or Liens as would not be, individually or in the aggregate, Material. 

        (ii)   Except
as disclosed in the Lessee Guarantor's Form 10-K/A previously provided to the Purchasers, the projected benefit obligation under each of the Plans (other than
Multiemployer Plans), determined as of the end of such Plan's most recently ended plan year on the basis of the actuarial assumptions specified for determining benefit obligations in such Plan's most
recent actuarial valuation report, did not exceed the current value of the assets of such Plan, all as determined in accordance with Financial Accounting Standards Board Statement No. 87. 

        (iii)  The
Lessee, the Lessee Guarantor and their respective ERISA Affiliates have not incurred withdrawal liabilities (and are not subject to contingent withdrawal
liabilities) under Section 4201 or 4204 of ERISA in respect of Multiemployer Plans that, individually or in the aggregate, are Material. 

        (iv)  Except
as disclosed in the Lessee Guarantor's Form 10-K/A previously provided to the Purchasers, the expected post-retirement benefit obligation (determined as of the
last day of the Lessee Guarantor's most recently ended fiscal year in accordance with Financial Accounting Standards Board Statement No. 106, without regard to liabilities attributable to continuation
coverage mandated by Section 4980B of the Code) of the Lessee Guarantor and its Subsidiaries is not Material. 

        (v)   The
execution and delivery of this Participation Agreement and the other Operative Documents will not involve any transaction that is subject to the prohibitions of
Section 406 of ERISA or in connection with which a tax could be imposed pursuant to Section 4975(c)(1)(A)-(D) of the Code. The representation by the Lessee and the Lessee Guarantor in the immediately
preceding sentence is made in reliance upon and subject to the accuracy of each Purchaser's representation in Section 8.1(a) as to the sources of the funds used to pay the purchase price of the Notes
to be purchased by such Purchaser. 

        (k)   Private Offering by the Lessee. Neither the Lessee, the Lessee Guarantor nor anyone acting on their behalf has offered
any interest in the Property or the Notes or any similar securities for sale to, or solicited any offer to buy any of the same from, or otherwise approached or negotiated in respect thereof with, any
Person other than the Lessor, not more than sixty-five (65) institutional investors, each of which has been offered an interest in the Property or the Notes at a private sale for investment. Neither
the Lessee, the Lessee Guarantor nor anyone acting on their behalf has taken, or will take, any action that would subject the Transaction to the registration requirements of Section 5 of the
Securities Act. 

        (l)    Use of Proceeds; Margin Regulations. The proceeds of each Advance will be used only for the purpose of financing the
acquisition of the Property and the payment of Fees and Transaction Expenses incurred in connection therewith. No part of the proceeds from an Advance will be used, directly or indirectly, for the
purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or
trading in any securities under such circumstances as to involve the Company in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T
of said Board (12 CFR 220). Margin stock does not constitute more than 10% of the value of the consolidated assets of the Lessee Guarantor and its Subsidiaries and the Lessee Guarantor does not have
any present intention that margin stock will constitute more than 10% of the value of such assets. As used in this Section, the terms "margin stock" and "purpose of buying or carrying" shall have the
meanings assigned to them in said Regulation U. 

18

 

        (m)  Foreign Assets Control Regulations, Etc. The Transaction will not violate the Anti-Terrorism Order, the Patriot Act, the
Trading with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling
legislation or executive order relating thereto. 

        (n)   Status under Certain Statutes. Neither the Lessee Guarantor, the Lessee nor any Subsidiary is subject to regulation under
the Investment Company Act of 1940, as amended, the Public Utility Holding Company Act of 1935, as amended, the ICC Termination Act of 1995, as amended, or the Federal Power Act, as amended. 

        (o)   Environmental Matters. Neither the Lessee Guarantor, the Lessee nor any of their respective Subsidiaries has knowledge of
any claim or has received any notice of any claim, and no proceeding has been instituted raising any claim against the Lessee Guarantor, the Lessee or any of their respective Subsidiaries or any of
their respective real properties now or formerly owned, leased or operated by any of them (including, without limitation, the Property) or other assets, alleging any damage to the environment or
violation of any Environmental Laws, except, in each case, such as could not reasonably be expected to result in a Material Adverse Effect. Except as otherwise disclosed to each Purchaser in
writing (including, without limitation, pursuant to the reports delivered pursuant to Section 6.1(h) hereof): 

        (i)    neither
the Lessee Guarantor, the Lessee nor any of their respective Subsidiaries has knowledge of any facts which would give rise to any claim, public or private, of
violation of Environmental Laws or damage to the environment emanating from, occurring on or in any way related to real properties now or formerly owned, leased or operated by any of them (including,
without limitation, the Property) or to other assets or their use, except, in each case, such as could not reasonably be expected to result in a Material Adverse Effect; 

        (ii)   neither
the Lessee Guarantor, the Lessee nor any of their respective Subsidiaries has stored any Hazardous Materials on real properties now or formerly owned, leased or
operated by any of them (including, without limitation, the Property) or has disposed of any Hazardous Materials in a manner contrary to any Environmental Laws in each case in any manner that could
reasonably be expected to result in a Material Adverse Effect; and 

        (iii)  all
buildings on all real properties now owned, leased or operated by the Lessee Guarantor, the Lessee or any of their respective Subsidiaries (including, without
limitation, the Property) are in compliance with applicable Environmental Laws, except where failure to comply could not reasonably be expected to result in a Material Adverse Effect. 

        (p)   Liens. The Lease Supplement and the Deed of Trust creates, or upon its execution will create, a valid security interest
in and deed of trust Lien on the Property purported to be covered thereby, and upon recordation of the Lease Supplement and the filing of the UCC financing statements relating to the Property, such
security interest and deed of trust lien will constitute perfected security interests and deed of trust liens, prior to all Liens other than Permitted Property Liens. 

        (q)   Property. The Property and the contemplated use thereof by the Lessee and its agents, employees, lessees, sublessees,
licensees, tenants and subtenants are in material compliance with all Requirements of Law (including, without limitation, all zoning and land use laws and Environmental Laws) and Insurance
Requirements. There is no action, suit or proceeding (including any proceeding in condemnation or eminent domain or under any Environmental Law) pending or, to the Lessee's or the Lessee Guarantor's
knowledge, threatened with respect to it, or the Property that materially adversely affects the title to, or the use, operation or value of, the Property. 

19

 

        (r)   Deed. With respect to the acquisition of the Property on the Acquisition Date, the Deed for the Property will be
sufficient to convey good and marketable title to the Property (subject only to Permitted Property Liens) to the Lessor. 

        (s)   Insurance. The Lessee has, on or before the Acquisition Date, obtained insurance coverage covering the Property that
meets the requirements set forth in Article XIII of the Master Lease and such coverage is in full force and effect. 

        (t)    Flood Hazard Areas. Except as otherwise identified on the applicable survey, plat or map delivered pursuant to Section
6.1(o), no portion of the Property will be located within an area identified as a special flood hazardous area by the Federal Emergency Management Agency. 

        (u)   Solvency. The Lessee is Solvent. 

        Section 8.3. Representations of the Lessor.    The Lessor represents and warrants to the other parties hereto that: 

        (a)   The
Lessor is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and
authority to execute, deliver, and perform its obligations under the Operative Documents to which it is a party. 

        (b)   The
Operative Documents to which it is, or will be, a party have been duly authorized by all requisite corporate action, have been duly executed and delivered by the
Lessor, and constitute, and each other Operative Document to which the Lessor is a party when executed and delivered by the Lessor will constitute, the legal, valid and binding obligations of the
Lessor enforceable against the Lessor in accordance with the respective terms thereof, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium
or other similar laws affecting the enforcement of creditors' rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity
or at law). 

        (c)   Neither
the execution and delivery of the Operative Documents, the consummation of the transactions contemplated thereby nor the fulfillment of or compliance with the
provisions thereof will require consent, approval, authorization, filing, registration or qualification under or conflict with or violate any Applicable Law applicable to the Lessor or any of its
property, except as contemplated by the Operative Documents. 

        (d)   There
are no Lessor Liens attributable to the Lessor on the Collateral, the Property or any part thereof. 

        (e)   The
Lessor is not and will not be funding its Lessor Amounts hereunder with the assets of an "employee benefit plan" (as
defined in Section 3(3) of ERISA) which is subject to Title I of ERISA, or "plan" (as defined in Section 4975(e)(1) of the Code). 

        (f)    The
Lessor is participating in the Transactions for its own account and not with a view toward redistribution; provided
that disposition of its rights hereunder shall remain in its control and the foregoing shall not affect the ability of the Lessor to assign, transfer or sell participations in its rights in accordance
with the Operative Documents. 

        (g)   There
are no actions or proceedings pending, or to the knowledge of the Lessor, threatened, against or affecting the Lessor in or before any Governmental Authority which
would materially and adversely affect the ability of the Lessor to enter into or perform the Operative Documents to which it is a party. 

        (h)   Neither
the Lessor nor anyone acting on its behalf has offered any the Notes or any similar securities for sale to, or solicited any offer to buy any of the same from,
or otherwise approached or negotiated in respect thereof with, any Person other than not more than 65 institutional investors, each of which has been offered an interest in the Notes at a private sale
for 

20

 

investment.
Neither the Lessor nor anyone acting on its behalf has taken, or will take, any action that would subject the issuance of the Notes to the registration requirements of Section 5 of the
Securities Act. 

        (i)    The
Lessor has a tangible net worth (determined in accordance with GAAP) of at least $52,000,000. 

        (j)    No
Indenture Default (attributable to the Lessor) or Indenture Event of Default (attributable to the Lessor) has occurred and is continuing. 

        (k)   The
Lessor is Solvent. 

        Section 8.4. Representations of the Indenture Trustee.    Wilmington Trust represents and warrants both in its individual
capacity and as Indenture Trustee (except with respect to paragraph (b) below, which are given solely in its capacity as Indenture Trustee) to each other party hereto that: 

        (a)   Wilmington
Trust is a banking corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. The Indenture Trustee has all
requisite corporate power and authority and all necessary licenses and permits under the laws of the State of Delaware and the United States governing the banking and trust powers of Wilmington Trust
to enter into and carry out the terms and provisions of this Participation Agreement and the Indenture. 

        (b)   The
Operative Documents to which it is, or will be, a party have been duly authorized by all requisite corporate action, have been duly executed and delivered by the
Indenture Trustee, and constitute, and each other Operative Document to which the Indenture Trustee is a party when executed and delivered by the Indenture Trustee will constitute, the legal, valid
and binding obligations of the Indenture Trustee enforceable against the Indenture Trustee in accordance with the respective terms thereof, except as such enforceability may be limited by (i)
applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors' rights generally and (ii) general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law). The authentication of the Notes to be delivered on the Documentation Date has been duly authorized by all necessary
corporate action on the part of the Indenture Trustee. 

        (c)   Neither
the execution and delivery of the Operative Documents, the consummation of the transactions contemplated thereby nor the fulfillment of or compliance with the
provisions thereof, including, without limitation, the authentication of each Note pursuant to Section 2.3 of the Indenture, do not and will not contravene any law, or any order of any Governmental
Authority of the State of Delaware or of the federal government of the United States governing the banking and trust powers of Wilmington Trust applicable to or binding on the Indenture Trustee or its
charter or its by-laws or any indenture, mortgage, contract or other agreement or instrument to which the Indenture Trustee is a party or by which it or any of its property may be bound or affected. 

        (d)   There
are no proceedings pending or, to the knowledge of the Indenture Trustee, threatened, against or affecting the Indenture Trustee in or before any Governmental
Authority or arbitration board or tribunal which, if adversely determined, might impair the ability of the Indenture Trustee to perform its obligations under this Participation Agreement and the
Indenture. 

        (e)   No
authorization or approval or other action by, and no notice to or filing with, any State of Delaware or United States federal Governmental Authority regulating the
banking or trust powers of Wilmington Trust is required for the due execution, delivery and performance by the Indenture Trustee of this Participation Agreement and the Indenture. 

21

 

        (f)    There
are no taxes, fees, levies, deductions, withholdings or other charges payable to the State of Delaware or to any political subdivision thereof in connection with
the execution and delivery of this
Participation Agreement, the Indenture or the authentication or issuance of the Notes, and none of the transactions contemplated by the Indenture or the Notes will be subject to any fee, levy,
deduction, withholding or other charge under the laws of the State of Delaware or any political subdivision thereof (other than taxes imposed on the fees received by the Indenture Trustee for acting
as trustee under the Indenture) which would not have been imposed if the trust created by the Indenture had not been created pursuant to the laws of the State of Delaware and Wilmington Trust had not
(i) been incorporated under the laws of, (ii) had its principal place of business in, (iii) performed (in its individual capacity or as the Indenture Trustee) its duties under the Operative Documents
in, and (iv) engaged in activities unrelated to the transactions contemplated by the Operative Documents in, the State of Delaware. 

        (g)   The
Property and the other Collateral are free of Liens and rights of others resulting from claims against the Indenture Trustee not related to the transactions
contemplated by the Operative Documents and Wilmington Trust has not conveyed any interest in any of the Property to any Person except as explicitly contemplated by the terms of the Operative
Documents. 

 
 

ARTICLE IX
  PAYMENT OF CERTAIN EXPENSES    
    

        The Lessee agrees, for the benefit of the Arranger, the Lessor, the Indenture Trustee and the Purchasers, that: 

        Section 9.1. Transaction Expenses.    (a) The Lessee shall pay, or cause to be paid, from time to time all Transaction
Expenses in respect of the transactions on the Documentation Date and the Acquisition Date; provided, however, that, if the Lessee has not received
written invoices therefor at least one (1) Business Day prior to such date, such Transaction Expenses shall be paid within thirty (30) days after the Lessee has received written invoices
therefor. 

        (b)   The
Lessee shall pay or cause to be paid (i) all Transaction Expenses incurred by the Lessor, the Indenture Trustee, the Purchasers and the RVI Provider in
entering into any future amendments, modifications, waivers or supplements with respect to any of the Operative Documents, whether or not such amendments or supplements are ultimately entered into, or
giving or withholding of waivers or consents hereto or thereto, (ii) all Transaction Expenses incurred by the Lessor, the Indenture Trustee, the Purchasers and the RVI Provider in connection
with the purchase of the Property by the Lessee or other Person pursuant to Articles XV, XVIII and XXI of the Master Lease, (iii) all Transaction Expenses incurred by any of the Purchasers, the
Lessor or the Indenture Trustee in respect of enforcement of any of their rights or remedies in respect of the Operative Documents and (iv) all Transaction Expenses incurred by the Lessor, the
Indenture Trustee, the Purchasers and the RVI Provider in connection with the negotiation and documentation of any restructuring or "workout," whether or not consummated, of any Operative Document. 

        Section 9.2. Brokers' Fees and Stamp Taxes.    The Lessee shall pay or cause to be paid any brokers' fees and any and all
stamp, transfer and other similar taxes, fees and excise, if any, including any interest and penalties, which are payable in connection with the transactions contemplated by this Participation
Agreement and the other Operative Documents. 

        Section 9.3. Indenture and Related Obligations.    If a Lease Event of Default has occurred and is continuing, the Lessee
shall pay, without duplication of any other obligation of the Lessee to pay any such amount under the Operative Documents, before the due date thereof, all costs, expenses and other amounts (other
than principal and interest on the Notes which are payable to the extent otherwise required by the Operative Documents) required to be paid by the Lessor, the Indenture 

22

 

Trustee,
any of the Purchasers or the RVI Provider under the Indenture and the Assignment of Lease and Rent. 

 
 

ARTICLE X
  OTHER COVENANTS AND AGREEMENTS    
    

        Section 10.1. Covenants of the Lessee and the Lessee Guarantor.    The Lessee Guarantor and the Lessee each hereby
covenants and agrees with the Lessor, the Purchasers and the Indenture Trustee that it shall comply with the following provisions of this Section 10.1, it being understood that the following
covenants are in addition to, and not by way of limitation of, any covenant set forth in the Lease or any other Operative Document: 

        (a)   Financial Reporting and Notices. The Lessee Guarantor will maintain, for the Lessee Guarantor and each of its
Subsidiaries, a system of accounting established and administered in accordance with GAAP. The Lessee Guarantor and the Lessee shall deliver, or cause to be delivered, to the Lessor, the Indenture
Trustee and each Purchaser: 

        (i)    Quarterly Statements—within 45 days after the end of each quarterly fiscal period in each fiscal year
of the Lessee Guarantor (other than the last quarterly fiscal period of each such fiscal year), duplicate copies of: 

        (A)  a
consolidated balance sheet of the Lessee Guarantor and its consolidated Subsidiaries as at the end of such quarter, and 

        (B)  consolidated
statements of income, changes in shareholders' equity and cash flows of the Lessee Guarantor and its consolidated Subsidiaries for such quarter and (in the
case of the second and third quarters) for the portion of the fiscal year ending with such quarter, 

setting
forth in each case in comparative form the figures for the corresponding periods in the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP applicable to quarterly
financial statements generally, and certified by a Senior Financial Officer as fairly presenting, in all material respects, the financial position of the companies being reported on and their results
of operations and cash flows, subject to changes resulting from year-end adjustments, provided that delivery within the time period
specified above of copies of the Lessee Guarantor's Quarterly Report on Form 10-Q prepared in compliance with the requirements therefor and filed with the Securities and Exchange
Commission shall be deemed to satisfy the requirements of this Section 10.1(a)(i); 

        (ii)   Annual Statements—within 90 days after the end of each fiscal year of the Lessee Guarantor, duplicate
copies of, 

        (A)  a
consolidated balance sheet of the Lessee Guarantor and its consolidated Subsidiaries, as at the end of such year, and 

        (B)  consolidated
statements of income, changes in shareholders' equity and cash flows of the Lessee Guarantor and its consolidated Subsidiaries, for such year, 

setting
forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP, and accompanied by 

        (A)  an
opinion thereon of independent certified public accountants of recognized national standing, which opinion shall state that such financial statements present fairly,
in all material respects, the financial position of the companies being reported upon and their results of operations and cash flows and have been prepared in conformity with GAAP, and that the
examination of such accountants in connection with such financial 

23

 

statements
has been made in accordance with generally accepted auditing standards, and that such audit provides a reasonable basis for such opinion in the circumstances, and 

        (B)  a
report of such accountants, in accordance with professional standards, as to whether, in making their audit, they became aware of any condition or event that caused
them to believe that the Lessee or the Lessee Guarantor failed to comply with the terms, covenants, provisions or conditions of the Lease, in so far as they relate to accounting matters, that then
constituted a Lease Default or a Lease Event of Default, and, if they are aware that any such conditions or event then exist, specifying the nature thereof, 

provided that the delivery (i) within the time period specified above of the Lessee Guarantor's Annual Report on Form 10-K for
such fiscal year prepared in accordance with the requirements therefor and filed with the Securities and Exchange Commission, together with the accountant's report described in clause (B) above
and (ii) within 120 days after the end of such fiscal year of the Company's annual report to shareholders, if any, prepared pursuant to Rule 14a-3 under the Exchange
Act shall be deemed to satisfy the requirements of this Section 10.1(a)(ii); 

        (iii)  SEC and Other Reports—promptly upon their becoming available, one copy of (1) each financial
statement, report, notice or proxy statement sent by the Lessee Guarantor, the Lessee or any Subsidiary to public securities holders generally and (2) each regular or periodic report, each
registration statement (without exhibits except as expressly requested by such holder), and each prospectus and all amendments thereto filed by the Lessee Guarantor, the Lessee or any Subsidiary with
the Securities and Exchange Commission and of all press releases and other statements made available generally by the Lessee Guarantor, the Lessee or any Subsidiary to the public concerning
developments that are Material; 

        (iv)  Notice of Default or Event of Default—promptly, and in any event within five days after a Responsible
Officer becoming aware of the existence of any Lease Default or Lease Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that
any Person has given any notice or taken any action with respect to a claimed default of the type referred to in Section 16.1(g) of the Lease, a written notice specifying the nature and period
of existence thereof and what action the Lessee Guarantor or the Lessee is taking or proposes to take with respect thereto; 

        (v)   ERISA Matters—promptly, and in any event within five days after a Responsible Officer becoming aware of any
of the following, a written notice setting forth the nature thereof and the action, if any, that the Lessee Guarantor, the Lessee or an ERISA Affiliate proposes to take with respect thereto: 

        (A)  with
respect to any Plan, any reportable event, as defined in Section 4043(b) of ERISA and the regulations thereunder, for which notice thereof has not been
waived pursuant to such regulations as in effect on the date hereof; or 

        (B)  the
taking by the PBGC of steps to institute, or the threatening by the PBGC of the institution of, proceedings under Section 4042 of ERISA for the termination
of, or the appointment of a trustee to administer, any Plan, or the receipt by the Lessee Guarantor, the Lessee or any ERISA Affiliate of a notice from a Multiemployer Plan that such action has been
taken by the PBGC with respect to such Multiemployer Plan; or 

        (C)  any
event, transaction or condition that could result in the incurrence of any liability by the Lessee Guarantor, the Lessee or any ERISA Affiliate pursuant to Title I
or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, or in the imposition of any Lien on any of the rights, properties or assets of 

24

 

the
Lessee Guarantor, the Lessee or any ERISA Affiliate pursuant to Title I or IV of ERISA or such penalty or excise tax provisions, if such liability or Lien, taken together with any other such
liabilities or Liens then existing, could reasonably be expected to have a Material Adverse Effect; 

        (vi)  Notices from Governmental Authority—promptly, and in any event within 30 days of receipt thereof,
copies of any notice to the Lessee Guarantor, the Lessee or any Subsidiary from any federal or state Governmental Authority relating to any order, ruling, statute or other law or regulation that could
reasonably be expected to have a Material Adverse Effect; and 

        (vii) Requested Information—with reasonable promptness, such other data and information relating to the business,
operations, affairs, financial condition, assets or properties of the Lessee Guarantor, the Lessee or any of their respective Subsidiaries or relating to the ability of the Lessee Guarantor or the
Lessee to perform their respective obligations hereunder and under the other Operative Documents as from time to time may be reasonably requested by the Lessor, the Indenture Trustee or any Purchaser. 

        (b)   Officer's Certificate. Each set of financial statements delivered pursuant to Section 10.1(a)(i) or
Section 10.1(a)(ii) hereof shall be accompanied by a certificate of a Senior Financial Officer setting forth: 

        (i)    Covenant Compliance—the information (including detailed calculations) required in order to establish whether
the Lessee Guarantor and the Lessee was in compliance with the requirements of Section 10.1(k) hereof, during the quarterly or annual period covered by the statements then being furnished
(including with respect to each such Section, where applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms of such Section
and the calculation of the amount, ratio or percentage then in existence); and 

        (ii)   Lease Event of Default—a statement that such officer has reviewed the relevant terms hereof and has made, or
caused to be made, under his or her supervision, a review of the transactions and conditions of the Lessee Guarantor, the Lessee and their respective Subsidiaries from the beginning of the quarterly
or annual period covered by the statements then being furnished to the date of the certificate and that such review shall not have disclosed the existence during such period of any condition or event
that constitutes a Lease Default or a Lease Event of Default or, if any such condition or event existed or exists (including, without limitation, any such event or condition resulting from the failure
of the Lessee Guarantor, the Lessee or any Subsidiary to comply with any Environmental Law), specifying the nature and period of existence thereof and what action the Lessee Guarantor or the Lessee
shall have taken or proposes to take with respect thereto. 

        (c)   Use of Proceeds. The proceeds of the Advances made under the Operative Documents will be used to acquire the Property and
to pay Fees and Transaction Expenses. None of such proceeds will be used, directly or indirectly, for the purpose, whether immediate, incidental or ultimate, of buying or carrying any "margin stock"
within the meaning of Regulation U. 

        (d)   Existence. (i) The Lessee Guarantor and the Lessee will, and will cause each of its respective Subsidiaries to, maintain
and keep, or cause to be maintained and kept, their respective properties in good repair, working order and condition (other than ordinary wear and tear), so that the business carried on in connection
therewith may be properly conducted at all times, provided that this Section shall not prevent the Lessee Guarantor, the Lessee or any Subsidiary from
discontinuing the operation and the maintenance of any of its properties (other than the Property) if such discontinuance is desirable in the conduct of its business and the Lessee 

25

 

Guarantor
or the Lessee, as the case may be, has concluded that such discontinuance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

        (ii)   Subject
to Section 10.1(i), the Lessee Guarantor and the Lessee will at all times preserve and keep in full force and effect its corporate existence and all
rights and franchises of the Lessee Guarantor, the Lessee and their respective Subsidiaries unless, in the good faith judgment of the Lessee Guarantor or the Lessee, as the case may be, the
termination of or failure to preserve and keep in full force and effect such right or franchise could not, individually or in the aggregate, have a Material Adverse Effect. 

        (e)   Taxes. The Lessee Guarantor and the Lessee will, and will cause each of its respective Subsidiaries to, file all tax
returns required to be filed in any jurisdiction and to pay and discharge all taxes shown to be due and payable on such returns and all other taxes, assessments, governmental charges, or levies
imposed on them or any of their properties, assets, income or franchises, to the extent such taxes and assessments have become due and payable and before they have become delinquent and all claims for
which sums have become due and payable that have or might become a Lien on properties or assets of the Lessee Guarantor, the Lessee or any Subsidiary of either of them,  provided that neither the Lessee
Guarantor, the Lessee nor any Subsidiary need pay any such tax or assessment or claims if (1) the
amount, applicability or validity thereof is contested by the Lessee Guarantor, the Lessee or such Subsidiary on a timely basis in good faith and in appropriate proceedings, and the Lessee Guarantor,
the Lessee or such Subsidiary has established adequate reserves therefor in accordance with GAAP on the books of the Lessee Guarantor, the Lessee or such Subsidiary or (2) the nonpayment of all
such taxes and assessments in the aggregate could not reasonably be expected to have a Material Adverse Effect. 

        (f)    Insurance. Without limiting the provisions of Article XIII of the Master Lease, the Lessee Guarantor and the
Lessee will, and will cause each of its respective Subsidiaries to, maintain, with financially sound and reputable insurers, insurance with respect to their respective properties and businesses
against such casualties and contingencies, of such types, on such terms and in such amounts (including deductibles, co-insurance and self-insurance, if adequate reserves are
maintained with respect thereto) as is customary in the case of entities of established reputations engaged in the same or a similar business and similarly situated. 

        (g)   Compliance with Laws. The Lessee Guarantor and the Lessee will, and will cause each of its respective Subsidiaries to,
comply with all laws, ordinances or governmental rules or regulations to which each of them is subject, including, without limitation, Environmental Laws, and will obtain and maintain in effect all
licenses, certificates, permits, franchises and other governmental authorizations necessary to the ownership of their respective properties or to the conduct of their respective businesses, in each
case to the extent necessary to ensure that non-compliance with such laws, ordinances or governmental rules or regulations or failures to obtain or maintain in effect such licenses,
certificates, permits, franchises and other governmental authorizations could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

        (h)   Inspection. The Lessee Guarantor and the Lessee shall permit the representatives of the Lessor and each Purchaser: 

        (i)    No Lease Default—if no Lease Default or Lease Event of Default then exists, at the expense of such Person and
upon reasonable prior notice to the Lessee Guarantor and the Lessee, to visit the Property and the principal executive office of the Lessee Guarantor and the Lessee, to discuss the affairs, finances
and accounts of the Lessee Guarantor, the Lessee and their respective Subsidiaries with the Lessee Guarantor's and the Lessee's respective officers and (with the consent of the Lessee Guarantor or the
Lessee, as the case may be, which consent will not be unreasonably withheld) its independent public accountants, and (with the consent of the Lessee Guarantor or the Lessee, as the case may be, which
consent 

26

 

will
not be unreasonably withheld) to visit the other offices and properties of the Lessee Guarantor, the Lessee and each of their respective Subsidiaries, all at such reasonable times and as often as
may be reasonably requested in writing; and 

        (ii)   Lease Default—if a Lease Default or Lease Event of Default then exists, at the expense of the Lessee to
visit and inspect any of the offices or properties of the Lessee Guarantor, the Lessee or any of their respective Subsidiaries, to examine all their respective books of account, records, reports and
other papers, to make copies and extracts therefrom, and to discuss their respective affairs, finances and accounts with their respective officers and independent public accountants (and by this
provision the Lessee Guarantor and the Lessee each authorizes said accountants to discuss the affairs, finances and accounts of the Lessee Guarantor, the Lessee and its Subsidiaries), all at such
times and as often as may be requested. 

        (i)    Consolidations, Mergers, Dissolution and Sale of Assets. The Lessee and the Lessee Guarantor will not consolidate with or
merge with any other corporation or convey, transfer or lease all or a substantial part of its assets in a single transaction or series of transactions to any Person or reorganize,  provided that the
foregoing restriction does not apply to (i) the consolidation or merger of the Lessee Guarantor with, or the conveyance,
transfer or lease of substantially all of the assets of the Lessee Guarantor in a single transaction or series of transactions to, any Person, or a reorganization of the Lessee Guarantor so long as: 

        (A)  the
successor formed by such consolidation or reorganization or the survivor of such merger or the Person that acquires by conveyance, transfer or lease substantially
all of the assets of the Lessee Guarantor as an entirety or such reorganization, as the case may be (the "Successor Lessee Guarantor"), shall be
(1) the Lessee Guarantor or (2) a Solvent corporation organized and existing under the laws of the United States or any State thereof (including the District of Columbia); 

        (B)  if
the Lessee Guarantor is not the Successor Lessee Guarantor, (1) the Successor Lessee Guarantor shall have executed and delivered to each Participant and to the
Indenture Trustee its assumption of the due and punctual performance and observance of each covenant and condition of the Lessee Guarantor in this Participation Agreement and each other Operative
Document to which the Lessee Guarantor is a party (pursuant to such agreements and instruments as shall be reasonably satisfactory to the Required Participants) and (2) the Successor Lessee
Guarantor shall have caused to be delivered to each Participant and the Indenture Trustee an opinion of nationally recognized independent counsel, or other independent counsel reasonably satisfactory
to the Required Participants, to the effect that all agreements or instruments effecting such assumption are enforceable in accordance with their terms and comply with the terms hereof; and 

        (C)  both
before and immediately after giving effect to such transaction, no Lease Default or Lease Event of Default exists or would exist; 

        (ii)   the
consolidation or merger of the Lessee with, or the conveyance, transfer or lease of substantially all of the assets of the Lessee in a single transaction or series
of transactions to, any Person, or a reorganization of the Lessee so long as: 

        (A)  the
successor formed by such consolidation or the survivor of such merger or the Person that acquires by conveyance, transfer or lease substantially all of the assets of
the Lessee as an entirety, or such reorganization, as the case may be (the "Successor Lessee"), shall be (1) the Lessee or (2) a Solvent
corporation organized and existing under the laws of the United States or any State thereof (including the District of Columbia); 

27

 

        (B)  if
the Lessee is not the Successor Lessee, (1) the Successor Lessee shall have executed and delivered to each Participant and to the Indenture Trustee its
assumption of the due and punctual performance and observance of each covenant and condition of the Lessee in this Participation Agreement and each other Operative Document to which the Lessee is a
party (pursuant to such agreements and instruments as shall be reasonably satisfactory to the Required Participants), (2) the Successor Lessee shall have caused to be delivered to each
Participant and the Indenture Trustee an opinion of nationally recognized independent counsel, or other independent counsel reasonably satisfactory to the Required Participants, to the effect that all
agreements or instruments effecting such assumption are enforceable in accordance with their terms and comply with the terms hereof and (3) the Lessee Guarantor shall have reaffirmed in writing
its obligations under this Participation Agreement and each other Operative Document to which it is a party; and 

        (C)  both
before and immediately after giving effect to such transaction, no Lease Default or Lease Event of Default would exist; and 

        (iii)  the
consolidation or merger of (A) the Lessee with, or the conveyance, transfer or lease of substantially all of the assets of the Lessee in a single
transaction or series of transactions to, the Lessee Guarantor or (B) the Lessee Guarantor with, or the conveyance, transfer or lease of substantially all of the assets of the Lessee Guarantor
in a single transaction or series of transactions to, the Lessee so long as, in either case: 

        (1)   the
successor formed by such consolidation or the survivor of such merger or the Person that acquires by conveyance, transfer or lease substantially all of the assets of
the Lessee or the Lessee Guarantor, as applicable, as an entirety, as the case may be (the "Surviving Entity"), shall (I) have executed and
delivered to each Participant and to the Indenture Trustee its assumption of the due and punctual performance and observance of each covenant and condition of the Lessee or the Lessee Guarantor, as
applicable, in this Participation Agreement and each other Operative Document to which the Lessee or the Lessee Guarantor, as applicable, is a party (pursuant to such agreements and instruments as
shall be reasonably satisfactory to the Required Participants) and (II) have caused to be delivered to each Participant and the Indenture Trustee an opinion of nationally recognized independent
counsel, or other independent counsel reasonably satisfactory to the Required Participants, to the effect that all agreements or instruments effecting such assumption are enforceable in accordance
with their terms and comply with the terms hereof; and 

        (2)   immediately
after giving effect to such transaction, no Lease Default or Lease Event of Default would exist. 

No
such conveyance, transfer or lease of substantially all of the assets of the Lessee or the Lessee Guarantor shall have the effect of releasing the Lessee or the Lessee Guarantor or any successor
entity from its liability under this Participation Agreement or the other Operative Documents to which it is a party. 

        (j)    Liens. The Lessee will not, will not permit any of its Subsidiaries to, create, incur, assume or suffer to exist any Lien
in or on the Property, except Permitted Property Liens. 

        (k)   Minimum Consolidated Net Worth. The Lessee Guarantor will not, at any time, permit Consolidated Net Worth to be less than
the sum of (a) $899,996,000, (b) an aggregate amount equal to 50% of its Consolidated Net Income (but, each case, only if a positive number) for each completed fiscal year ending after
March 31, 2003 and (c) an amount equal to 50% of the Net Proceeds of Equity Issuances after the Documentation Date. 

28

 

        (l)    RVI Policy. Neither the Lessee nor the Lessee Guarantor will take any action (or fail to take any action required of it)
that would cause, directly or indirectly, the RVI Policy to cease to be in full force and effect. 

        (m)  Change in Name or Jurisdiction of Incorporation. Neither the Lessee nor the Lessee Guarantor shall make any change to its
name or jurisdiction of incorporation unless, not less than 30 days prior to the effective date of such change, the Lessee or the Lessee Guarantor, as applicable, shall have provided the
Indenture Trustee and each Participant with written notice of such change and shall have delivered to the Indenture Trustee and each Participant such financing statements which the Indenture Trustee
and or a Participant may request to reflect such change in name or location. The Lessee and the Lessee Guarantor shall deliver such other documents and instruments as the Indenture Trustee and each
Participant may reasonably request in connection with such change in name or location within 10 days of the effectiveness of such change or such Person's request therefor. 

        (n)   Further Assurances. (i) The Lessee and the Lessee Guarantor, at their cost and expense, will cause to be promptly
and duly taken, executed, acknowledged and delivered all such further acts, documents and assurances as the Lessor, the Indenture Trustee or any Purchaser reasonably may request from time to time in
order to carry out more effectively the intent and purposes of this Participation Agreement and the other Operative Documents and the Transactions. The Lessee, at its cost and expense, will cause all
financing statements, fixture filings, deeds of trust and other documents, to be recorded or filed at such places and times in such manner, and will take all such other actions or cause such actions
to be taken, as may be necessary or as may be reasonably requested by the Indenture Trustee, any Purchaser or the Lessor in order to establish, preserve, protect and perfect the title and Lien of the
Lessor and/or the Indenture Trustee in the Property and the Collateral and the Lessor's, the Indenture Trustee's and/or any Purchaser's rights under this Participation Agreement and the other
Operative Documents. 

        (ii)   In
the event that the Lessor Amount is prepaid pursuant to Section 10.2 hereof, the Lessee and the Lessee Guarantor, at their cost and expense, will,
concurrently with such prepayment, assume all obligations of the Lessor hereunder and under the other Operative Documents on a full-recourse basis and take all such further acts as are
necessary to evidence the Transactions as a full recourse secured mortgage loan to the Lessee. The Lessee, at its cost and expense, will cause all financing statements, fixture filings, deeds of trust
and other documents (including, without limitation, any amendments to the existing Operative Documents), to be recorded or filed at such places and times in such manner, and will take all such other
actions or cause such actions to be taken, as may be necessary or as may be requested by the Indenture Trustee or any Purchaser in order to give effect to the foregoing sentence. 

        Section 10.2. Prepayment upon Change in Control.    

        (a)   Notice of Change in Control. The Lessee Guarantor will, within five (5) Business Days after any Responsible
Officer has knowledge of the occurrence of any Change in Control or Control Event, give written notice of such Change in Control or Control Event to the Indenture Trustee (which notice shall be sent
by the Indenture Trustee to each holder of a Note) and the Lessor (with a copy to the RVI Provider) unless notice in respect of such Change in Control (or Change in Control contemplated by such
Control Event) shall have been given pursuant to paragraph (b) of this Section 10.2. If a Change in Control has occurred, such notice shall contain and constitute an offer to purchase
Notes and prepay the Lessor Amount as described in paragraph (c) of this Section 10.2 and shall be accompanied by the certificate described in paragraph (g) of this
Section 10.2. 

29

 

        (b)   Condition to Lessee Guarantor Action. The Lessee Guarantor will not take any action that consummates or finalizes a
Change in Control unless (1) at least thirty (30) days prior to such action it shall have given to the Indenture Trustee and the Lessor (with a copy to the RVI Provider) written notice
containing and constituting an offer to purchase Notes and prepay the Lessor Amount as described in paragraph (c) of this Section 10.2, accompanied by the certificate described in
paragraph (g) of this Section 10.2, and (2) contemporaneously with such action, it purchases all Notes required to be purchased and prepays the Lessor Amount required to be
prepaid in accordance with this Section 10.2. 

        (c)   Offer to Purchase Notes and Prepay the Lessor Amount. The offer to purchase Notes and prepay Lessor Amount contemplated
by paragraphs (a) and (b) of this Section 10.2 shall be an offer to
(i) purchase, in accordance with and subject to this Section 10.2, all, but not less than all, the Notes held by each holder (in this case only, "holder" in respect of any Note
registered in the name of a nominee for a disclosed beneficial owner shall mean such beneficial owner) or (ii) prepay the entire outstanding Lessor Amount on a date specified in such offer (the
"Proposed Purchase Date"). If such Proposed Purchase Date is in connection with an offer contemplated by paragraph (a) of this
Section 10.2, such date shall be not less than thirty (30) days and not more than sixty (60) days after the date of such offer (if the Proposed Purchase Date shall not be
specified in such offer, the Proposed Purchase Date shall be the 30th day after the date of such offer). If such Proposed Purchase Date is in connection with an offer contemplated by
paragraph (b) of this Section 10.2, such date shall be the proposed date of the Change in Control. 

        (d)   Acceptance/Rejection. (i) The Lessor may accept or reject the offer to prepay the Lessor Amount made pursuant to
this Section 10.2 by causing a notice (the "Lessor Election Notice") of such acceptance or rejection to be delivered to the Indenture Trustee
(with a copy to each holder of a Note) within five (5) Business Days after receipt of the notice specified in paragraph (a) or paragraph (b) above;  provided that if such Proposed Purchase
Date shall be deferred pursuant to paragraph (f) of this Section 10.2 for more than twenty
(20) Business Days, then any acceptance of an offer may be rescinded by the Lessor by written notice delivered to the Indenture Trustee (with a copy to each holder of a Note) not less than
three (3) days prior to any deferred prepayment date. A failure by the Lessor to respond to an offer to prepay made pursuant to this Section 10.2 shall be deemed to constitute a
rejection of such offer by the Lessor. Notwithstanding anything contained in this paragraph to the contrary, no Lessor Amount may be prepaid in connection with any Change in Control unless at least
one (1) holder of Notes has elected to have its Notes prepaid in connection with such Change in Control. 

        (ii)   A
holder of Notes may accept or reject the offer to purchase Notes made pursuant to this Section 10.2 by causing a notice of such acceptance or rejection to be
delivered to the Indenture Trustee within fifteen (15) Business Days after receipt of the Lessor Election Notice (or, if the Lessor fails to deliver a Lessor Election Notice, twenty
(20) Business Days after receipt of the notice specified in paragraph (a) or paragraph (b) above); provided that if such Proposed
Purchase Date shall be deferred pursuant to paragraph (f) of this Section 10.2 for more than twenty (20) Business Days, then any acceptance of an offer may be rescinded by a
holder by written notice delivered to the Indenture Trustee not less than three (3) days prior to any deferred prepayment date. A failure by a holder of Notes to respond to an offer to purchase
made pursuant to this Section 10.2 shall be deemed to constitute an acceptance of such offer by such holder. 

        (e)   Purchase. Purchase of the Notes and prepayment of the Lessor Amount to be purchased or prepaid pursuant to this
Section 10.2 shall be at 100% of the principal amount of such Notes or Lessor Amount, plus the Make-Whole Amount, if any, determined
for the date of purchase with respect to such principal amount, together with interest on such Notes, or Yield on such Lessor Amount, accrued to the date of purchase or prepayment. Two
(2) Business Days prior to such date 

30

 

of
purchase or prepayment, the Lessee Guarantor shall deliver to each holder of Notes being purchased and, if the Lessor Amount is being prepaid, the Lessor a statement showing the
Make-Whole Amount, if any, due in connection with such purchase or prepayment and setting forth the details of the computation of such amount. The purchase or prepayment shall be made on
the Proposed Purchase Date except as provided in paragraph (f) of this Section 10.2. 

        (f)    Deferral Pending Change in Control. The obligation of the Lessee Guarantor to purchase Notes or prepay Lessor Amounts
pursuant to the offers required by paragraph (b) and accepted or deemed accepted in accordance with paragraph (d) of this Section 10.2 is subject to the occurrence of the Change
in Control in respect of which such offers and acceptances shall have been made. In the event that such Change in Control does not occur on the Proposed Purchase Date in respect thereof, the purchase
or prepayment, as applicable, shall be deferred until, and shall be made on the date on which, such Change in Controls occurs. The Lessee Guarantor shall keep each holder of Notes and the Lessor
reasonably and timely informed of (1) any such deferral of the date of purchase or prepayment, (2) the date on which such Change in Control and the purchase or prepayment are expected to
occur and (3) any determination by the Lessee Guarantor that efforts to effect such Change in Control have ceased or been abandoned (in which case the offers and acceptances made pursuant to
this Section 10.2 in respect of such Change in Control shall be deemed rescinded). 

        (g)   Officer's Certificate. Each offer to purchase the Notes or prepay the Lessor Amount pursuant to this Section 10.2
shall be accompanied by a certificate, executed by a Senior Financial Officer of the Lessee Guarantor and dated the date of such offer, specifying: (1) the Proposed Purchase Date;
(2) that such offer is made pursuant to this Section 10.2; (3) the principal amount of each Note offered to be purchased and the outstanding amount of the Lessor Amount offered to
be prepaid; (4) the estimated Make-Whole Amount, if any, due in connection with such purchase or prepayment (calculated as if the date of such notice were the date of the purchase
or prepayment), setting forth the details of such computation; (5) the interest that would be due on each Note offered to be purchased, accrued to the Proposed Purchase Date and the Yield that
would be due on the Lessor Amount offered to be prepaid, accrued to the Proposed Purchase Date; (6) that the conditions of this Section 10.2 have been fulfilled; (7) in reasonable
detail, the nature and date or proposed date of the Change in Control; and (8) that the failure for a holder of Notes to respond to such offer within 15 Business Days will be deemed to an
acceptance of such offer. 

        (h)   Change in Control Defined. "Change in Control" means (a) the
failure of the Lessee Guarantor to directly or indirectly own at least 95% of the voting equity interests or 95% of the voting stock of the Lessee;  provided that any merger or reorganization between the
Lessee and the Lessee Guarantor shall not constitute a Change in Control, or (b) the
acquisition after the Documentation Date by any person (as such term is used in Section 13(d) and Section 14(d)(2) of the Exchange Act as in effect on the Documentation Date) or related
persons constituting a group (as such term is used in Rule 13d-5 under the Exchange Act as in effect on the Documentation Date) of (i) the power to elect, appoint or cause
the election or appointment of at least a majority of the members of the board of directors of the Lessee Guarantor, through beneficial ownership of the capital stock of the Lessee Guarantor or
otherwise, or (ii) all or substantially all of the properties and assets of the Lessee Guarantor (a Change in Control referred to in this clause (b), a "Specified
Change in Control"); provided, however, a Specified Change in Control shall not constitute a Change in Control if (v) (A)
the Lessee Guarantor is the resulting entity and is solvent or (B) the resulting entity is a solvent Person organized and existing under the laws of the United States, any State thereof or the
District of Columbia, (w) if the Lessee Guarantor is not the resulting entity, the resulting entity expressly assumes the Lessee Guarantor's obligations under the Guaranty Agreement and the
other Operative Documents to which the Lessee Guarantor is a 

31

 

party
pursuant to an agreement reasonably satisfactory to the Required Purchasers, (x) if an assumption agreement is required pursuant to clause (w) above, each Purchaser and the
Indenture Trustee receives the opinion of nationally recognized independent counsel to the effect that such agreement is enforceable, (y) at the time of the occurrence of such Specified Change
in Control no Default or Event of Default shall exist both before and immediately after giving effect to such Specified Change in Control and (z) the senior unsecured debt of the Lessee
Guarantor or the resulting entity is rated at least Investment Grade. For purposes hereof, "Investment Grade" means a rating equal to or higher than
"BBB-" by S&P and a rating equal to or higher than "Baa3" by Moody's. 

        (i)    Control Event Defined. "Control Event" shall mean: 

        (i)    the
execution by the Lessee, the Lessee Guarantor or any of their respective Subsidiaries or Affiliates of any agreement or letter of intent with respect to any proposed
transaction or event or series of transactions or events that, individually or in the aggregate, may reasonably be expected to result in a Change in Control,  provided that the existence of such
agreement or letter of intent has been disclosed to the public generally, or 

        (ii)   the
execution of any written agreement which, when fully performed by the parties thereto, would result in a Change in Control. 

        Section 10.3. Covenants of Lessor.    The Lessor hereby agrees that, until payment in full of the Lease Balance or such
other time as the Master Lease shall have terminated with respect to all of the Property: 

        (a)   it
will not create, incur, assume or suffer to exist any Lessor Lien attributable to it upon the Property; 

        (b)   it
will, at its own cost and expense, promptly take such action as may be necessary duly to discharge, or to cause to be discharged, all Lessor Liens on the Property
attributable to it; provided that the Lessor may contest any such Lessor Lien if such Lien is contested by the Lessor on a timely basis in good faith
and in appropriate proceedings and the Lessor has established adequate reserves therefor in accordance with GAAP on the books of the Lessor; and 

        (c)   it
will not take any action (or fail to take any action required of it) that would cause, directly or indirectly, the RVI Policy to cease to be in full force and effect. 

        Section 10.4. Release of Property.    If the Lessee shall at any time (i) purchase any Affected Property pursuant
to Section 15.1 of the Lease or (ii) exercise its Purchase Option with respect to all or a portion of the Property, or if any or all of the Property shall be purchased by the Lessee (or
its designees) in accordance with the Master Lease, and in each case, the Lessee satisfies each of the obligations and conditions set forth in the Master Lease for the release of a Property therefrom,
then, upon application of the proceeds of any such sale pursuant to Article VII and all accrued interest, Yield and any other payments (including Make-Whole Amount, if any) due and
owing from the Lessee to the Indenture Trustee, the Purchasers and the Lessor on such date pursuant to the Operative Documents, including without limitation all amounts due and owing pursuant to
Article XIII of this Participation Agreement with respect to the Property or Property purchased by the Lessee or its designee, each the Property shall be released from the Liens created by the
Operative Documents (including any Liens created by the Lease Supplement covering the Property, the Deed of Trust with respect to the Property and the Assignment of Lease and Rent) and the Indenture
Trustee and the Lessor shall, at the expense of the Lessee, execute and deliver such instruments as the Lessee may reasonably request to effectuate and evidence such releases. 

32

 
 
 

ARTICLE XI
  [INTENTIONALLY OMITTED]    
    

 
 

ARTICLE XII
  TRANSFERS OF PARTICIPANTS' INTERESTS    
    

        Section 12.1. Transfers of Notes.    Upon any transfer of Notes as provided in the Indenture, the transferee shall become
a "Purchaser" for all purposes of the Operative Documents and, to the extent of such transfer, the assigning Purchaser shall be relieved of its
obligations hereunder to the extent of the Notes being assigned. The Indenture Trustee and the Lessor agree that upon notice of any such assignment and surrender of the appropriate Note or Notes, it
will promptly provide to the transferring Purchaser and to the transferee Purchaser separate promissory notes of the series and in the amount of their respective interests substantially in the form of
the original Note of such series (but with notation thereon that it is given in substitution for and replacement of the original Note or any replacement notes thereof). The Lessor hereby directs
Simpson Thatcher & Bartlett to deliver a reliance letter with respect to its opinion delivered pursuant to Section 2.1(j)(v) hereof to each transferee of a Note hereunder. 

        Section 12.2. Transfers by Lessor.    The Lessor shall not assign, convey or otherwise transfer any of its rights, title
or interest in the Property or the Operative Documents to which it is a party, except that the Lessor may upon compliance with the following conditions transfer its interest in the Property and the
Operative Documents to which it is a party: 

        (i)    the
transfer shall be of the Lessor's entire interest in the Property and the Operative Documents and such transferee (the  "Transferee") shall have the requisite power and authority to enter into and carry
out the transactions contemplated hereby; 

        (ii)   the
Transferee will enter into an agreement or agreements, in form and substance satisfactory to the Indenture Trustee and, so long as no Lease Event of Default has
occurred and is continuing, the Lessee, and to be accompanied by a favorable opinion of counsel, in form and substance satisfactory to the Indenture Trustee (acting at the direction of the Required
Purchasers) and, so long as no Lease Event of Default has occurred and is continuing, the Lessee, with respect to the due authorization, execution, delivery and enforceability of such agreement and
the absence of any conflicts with or violations of any Applicable Law (including, without limitation, that such transfer may be accomplished without any registration under the Securities Act) or
agreements or instruments to which such Transferee is a party or with respect to which it may be bound, whereby the Transferee confirms that it shall be deemed a party to this Participation Agreement
and any other Operative Document to which the Lessor is a party and is bound by all the terms of, and undertakes all the obligations of the Lessor contained in such Operative Documents to which it is
a party, and including, without limitation, an agreement that such Transferee shall be bound by the restrictions contained in this Section 12.2 with respect to any subsequent transfer by it.
Upon satisfaction of the conditions set forth in this Section 12.2, the Lessor shall be released from any and all liabilities arising under or in connection with such Operative Documents (to
the extent such liabilities arise after the relevant transfer); 

        (iii)  such
transfer shall not violate any provision of any Applicable Law and the registration of any interest hereunder shall not be required under the Securities Act in
connection with the proposed transfer; 

        (iv)  the
Transferee shall be (A) a bank, trust company, insurance company, credit or finance corporation or other corporation or partnership organized under the laws
of the United States or any State thereof not subject to bankruptcy, insolvency or similar proceedings 

33

 

with
a senior unsecured (unenhanced) debt rating equal to or higher than "A" by S&P or a rating equal to or higher than "A2" by Moody's at the time of transfer, (B) a corporation, partnership
or trust company which has its obligations guaranteed, pursuant to a guaranty agreement or such other agreement reasonably satisfactory to the Lessee and the Indenture Trustee, by its direct or
indirect parent entity which entity shall meet the requirements of clause (A) of this sentence or (C) an Affiliate of the Lessor or the Lessor Parent;  provided, that in connection with any
transfer pursuant to this clause (C), the Lessor Parent shall have executed and delivered a reaffirmation
of its obligations under the Indemnity Agreement to each Purchaser. Upon any transfer permitted by this Section 12.2, except as otherwise expressly provided herein, each reference herein to the
transferring Lessor shall thereafter be deemed to be a reference to the Transferee; and 

        (v)   all
costs, expenses and Taxes associated with such transfer incurred by the Lessee, the Indenture Trustee or any Purchaser in connection with any such transfer,
including, without limitation, the cost of amending any Uniform Commercial Code or other filings, shall be paid by the Lessor or the Transferee. 

        Section 12.3. Withholding Taxes; Disclosure of Information.    (a) If the transferee of any Purchaser pursuant to
Section 12.1 or of the Lessor pursuant to Section 12.2 is (i) not a citizen or resident of the United States, (ii) not a corporation, partnership or other entity created or
organized in or under the laws of the United States (or any jurisdiction thereof) or (iii) not an estate or trust that is subject to federal income taxation regardless of the source of its
income (each, a "Non-U.S. Transferee"), then such Non-U.S. Transferee shall deliver (or cause to be delivered) to each of the
Indenture Trustee and the Lessee one of the following properly completed and signed U.S. tax forms: (i) a form W-8ECI (or successor form)or (ii) a
form W-8BEN (or successor form) claiming a valid exemption under an applicable U.S. tax treaty for all amounts payable to such Non-U.S. Transferee under the Operative
Documents such that the rate of withholding tax applicable to such amounts equals zero percent (0%). 

        (b)   If
the transferee of any Purchaser pursuant to Section 12.1 or of the Lessor pursuant to Section 12.2 is not a Non-U.S. Transferee (each, a  "U.S. Transferee"), then such U.S. Transferee shall
provide to each of the Indenture Trustee and the Lessee a properly completed, accurate and signed
IRS Form W-9 (or successor form), or such information that would otherwise be contained thereon. 

        (c)   Any
Participant may, in connection with any assignment or proposed assignment pursuant to this Article XII, disclose to such assignee or participant or proposed
assignee or participant, any information relating to the Lessee, the Lessee Guarantor or the Transactions, subject to applicable confidentiality requirements relating to such information. 

 
 

ARTICLE XIII
  INDEMNIFICATION    
    

        Section 13.1. General Indemnification.    (a) Except as to matters addressed in Section 13.5, the Lessee agrees,
whether or not any of the transactions contemplated hereby shall be consummated, to assume liability for, and to indemnify, protect, defend, save and keep harmless each Indemnitee, on an After Tax
Basis, from and against any and all Claims that may be imposed on, incurred by or asserted against such Indemnitee (whether because of action or omission by such Indemnitee or otherwise) whether or
not such Indemnitee shall also be indemnified as to any such Claim by any other Person and whether or not such Claim arises or accrues prior to the Documentation Date or after the Maturity Date, in
any way relating to or arising out of the transactions contemplated by this Participation Agreement and the other Operative Documents, including, without limitation: 

        (i)    any
of the Operative Documents and any amendment, modification or waiver in respect thereof; 

34

 

        (ii)   the
Property or any part thereof or interest therein; 

        (iii)  the
purchase, design, construction, preparation, installation, inspection, delivery, nondelivery, acceptance, rejection, ownership, management, possession, operation,
rental, lease, sublease, assignment, repossession, maintenance, repair, alteration, modification, addition or substitution, storage, transfer of title, redelivery, use, financing, refinancing,
disposition, operation, condition, sale (including without limitation, any sale pursuant to Section 16.2(d) or 16.2(f) of the Master Lease or any sale pursuant to Article XV, XVIII or XX
of the Master Lease), return or other disposition of all or any part or any interest in the Property or the imposition of any Lien thereon, including, without limitation: (1) Claims or
penalties arising from any violation of law or in tort (on the basis of strict liability or otherwise), (2) latent or other defects, whether or not discoverable, (3) any Claim based upon
a violation or alleged violation of the terms of any restriction, easement, condition or covenant or other matter affecting title to the Property, (4) the making of any Modifications in
violation of any standards imposed
by any insurance policies required to be maintained by the Lessee pursuant to the Master Lease which are in effect at any time with respect to the Property or any part thereof, (5) any Claim
for patent, trademark or copyright infringement with respect to the Property and (6) Claims arising from any public improvements with respect to the Property resulting in any change or special
assessments being levied against the Property or any plans to widen, modify or realign any street or highway adjacent to the Property, or any Claim for utility "tap-in" fees; 

        (iv)  the
breach or alleged breach by the Lessee or the Lessee Guarantor of any covenant, representation or warranty made or deemed made by it in any Operative Document or
any certificate required to be delivered by it by any Operative Document; 

        (v)   the
retaining or employment of any broker, finder or financial advisor by the Lessee or the Lessee Guarantor to act on its behalf in connection with this Participation
Agreement or any other Operative Document; and 

        (vi)  the
existence of any Lien on or with respect to the Property, any Basic Rent or Supplemental Rent, title thereto, or any interest therein including any Liens which
arise out of the possession, use, occupancy, construction, repair or rebuilding of the Property or by reason of labor or materials furnished or claimed to have been furnished to the Lessee, or any of
its contractors or agents or by reason of the financing of any personalty or equipment purchased or leased by the Lessee or Modifications constructed by the Lessee. 

        (b)   Notwithstanding
the terms of clause (a) of this Section 13.1, the Lessee shall not be required to indemnify any Indemnitee under this Section 13.1
for any Claim to the extent arising or resulting from (1) the willful misconduct or gross negligence of such Indemnitee, (2) Lessor Liens attributable to such Indemnitee, (3) a
breach by such Indemnitee of any Operative Document, (4) a breach by such Indemnitee of any agreement entered into in connection with the assignment or participation of any Note or Lessor
Amount, any interest therein or any other interest of such Indemnitee under the Operative Documents and (5) acts or events occurring in respect of the Property in the period after the Lessee
ceases to lease the Property from the Lessor under the Lease to the extent not resulting from any act or event otherwise covered by this indemnity that occurred during the period the Lessee leased the
Property. It is expressly understood and agreed that the indemnity provided for herein shall survive the expiration or termination of and shall be separate and independent from any remedy under the
Lease or any other Operative Document. Without limiting the express rights of any Indemnitee under this Section 13.1, this Section 13.1 shall be construed as an indemnity only and not a
guaranty of residual value of the Property or as a guaranty of the Notes or the repayment of the Lease Balance. 

35

 

        Section 13.2. End of Term Indemnity.    (a) If the Lessee elects the Remarketing Option and there would, after giving
effect to the proposed remarketing transaction, be a Shortfall Amount, then as a condition
to the Lessee's right to complete the remarketing of the Property pursuant to Article XX of the Master Lease, the Lessee shall cause to be delivered to the Indenture Trustee, the Lessor and the
RVI Provider at least one hundred twenty (120) days prior to the Expiration Date, at the Lessee's sole cost and expense, a report from the Appraiser in form and substance satisfactory to the
Lessor, the Indenture Trustee, the Purchasers and the RVI Provider (the "End of the Term Report") which shall state the Appraiser's conclusions as to
the reason for any decline in the Fair Market Sales Value of the Property from the Property Cost thereof. 

        (b)   On
or prior to the Expiration Date the Lessee shall pay to the Indenture Trustee for the account of each holder of Series B Notes and the Lessor in respect of the
Lessor B Portion an amount (not to exceed the Shortfall Amount) equal to the portion of any Shortfall Amount that the End of the Term Report demonstrates was the result of a decline in the Fair Market
Sales Value of the Property due to: 

        (i)    extraordinary
use; failure to maintain, repair, restore, rebuild or replace; failure to comply with all applicable laws; failure to use; workmanship; method of
installation or removal or maintenance, repair, rebuilding or replacement (excepting in each case ordinary wear and tear and except as otherwise provided in the Lease); or 

        (ii)   any
Modification made to, or any rebuilding of, the Property or any part thereof by the Lessee, or any sublessee, whether or not permitted pursuant to the Operative
Documents; or 

        (iii)  contamination
at the Property resulting from any Hazardous Activity, Hazardous Materials or Environmental Violations whether or not such condition existed on the
Acquisition Date therefor; or 

        (iv)  any
restoration or rebuilding carried out by the Lessee; or 

        (v)   any
condemnation of any portion of the Property pursuant to Article XIV of the Master Lease; or 

        (vi)  any
use of the Property or any part thereof by the Lessee other than for its intended purposes as contemplated by the applicable Appraisal; or 

        (vii) any
grant, release, dedication, transfer, annexation or amendment made pursuant to Section 11.2 of the Master Lease; or 

        (viii) the
failure of the Lessor to have good and marketable title to the Property free and clear of all Liens (other than Permitted Property Liens described in clauses (i),
(viii) and (x) of the definition thereof); or 

        (ix)  the
existence of any sublease relating to the Property that shall survive the Expiration Date. 

        Section 13.3. Environmental Indemnity.    To the fullest extent permitted by Applicable Law, and without limitation of
the other provisions of this Article XIII, the Lessee hereby agrees to indemnify, hold harmless and defend each Indemnitee from and against any and all claims (including, without limitation,
third party claims for personal injury or real or personal property damage), losses, damages, liabilities, fines, penalties, charges, administrative and judicial proceedings, judgments, remedial
actions, requirements, enforcement actions of any kind, and all reasonable and documented costs and expenses incurred in connection therewith (including but not limited to reasonable attorneys' and/or
paralegals' fees and expenses and costs incurred in connection with any investigation or monitoring of site conditions or any clean-up, remedial, removal or restoration work with respect
to the Property 

36

 

undertaken
or required by any federal, state or local Governmental Authority), arising or asserted under any Environmental Laws, and arising in whole or in part, out of: 

        (a)   the
presence on or under the Property of any Hazardous Materials, or any Releases of any Hazardous Materials on, under, from or at the Property; 

        (b)   any
activity, including, without limitation, construction, carried on or undertaken on or off the Property, whether by the Lessee (or any predecessor in title) or any
employees, agents, contractors or subcontractors of the Lessee (or any predecessor in title), or in connection with the handling, treatment, removal, storage, decontamination, clean-up,
transport or disposal of any Hazardous Materials that at any time are located or present on or under or that at any time migrate, flow, percolate, diffuse or in any way move onto or off the Property; 

        (c)   with
respect to any Hazardous Materials at the Property, loss of or damage to any property or the environment (including, without limitation, clean-up costs,
response costs, remediation and removal costs, costs of corrective action, costs of financial assurance, fines and penalties and natural resource damages), or death or injury to any Person, and all
expenses associated with the protection of wildlife, aquatic species, vegetation, flora and fauna, and any mitigative action required by or under Environmental Laws; or 

        (d)   any
noncompliance with Environmental Laws, or any act or omission causing an environmental condition at the Property that requires remediation or causing any
Governmental Authority to record a Lien pursuant to Environmental Laws on the land record of the Property; or 

        (e)   any
residual contamination on or under the Property, including any contamination affecting any natural resources, and any contamination of any property or natural
resources arising in connection with the generation, use, handling, storage, transport or disposal of any Hazardous Material associated with the Property, and irrespective of whether any of such
activities were or will be undertaken in accordance with applicable laws, regulations, codes and ordinances; 

provided, however, that the Lessee shall not be required to indemnify any Indemnitee under this Section 13.3 for (1) any claim to the
extent resulting from such Indemnitee's gross negligence or willful misconduct or (2) any claim arising in respect to the Property to the extent attributable to acts or events occurring in the
period after the Lessee ceases to lease the Property from the Lessor; provided that the facts supporting such claim occur after such period. It is
expressly understood and agreed that the indemnity provided for herein shall survive the expiration or termination of the Lease Term with respect to any claim based on facts or circumstances arising
prior to or during the Lease Term, and shall be separate and independent from any remedy under the Lease or any other Operative Document. 

        Without
limiting the generality of the foregoing, the Lessee waives all rights and defenses that the Lessee may have because the Lessee's obligations are secured by real property. This
means, among other things: 

        (1)   The
Indemnitees may collect from the Lessee without first foreclosing on any real or, if applicable, personal property collateral pledged by the Lessee; 

        (2)   If
the Indemnitees foreclose on any real property collateral pledged by the Lessee: 

        (A)  the
amount of the Lessee's obligations may be reduced only by the price for which that collateral is sold at the foreclosure sale (even if the collateral is worth more
than the sale price thereof); and 

        (B)  the
Indemnitees may collect from the Lessee even if the Indemnitees, by foreclosing on the real property collateral, have destroyed any right the Lessee may have to
collect from third parties. 

37

 

This
is an unconditional and irrevocable waiver of any rights and defenses the Lessee may have because the Lessee's obligations are secured by real property. 

        Section 13.4. Proceedings in Respect of Claims.    In case any action, suit or proceeding shall be brought against any
Indemnitee in respect of Claims indemnifiable under Sections 13.1 or 13.3, such Indemnitee shall promptly notify the Lessee of the commencement thereof, and the Lessee shall be entitled, at the
Lessee's expense, to participate in, and, to the extent that the Lessee desires to, assume and control the defense thereof; provided, however,that if
the Lessee shall have exercised its rights to control the defense of such Claim to the exclusion of the applicable Indemnitee, the Lessee shall have acknowledged in writing its obligation to fully
indemnify such Indemnitee in respect of such action, suit or proceeding, and the Lessee shall keep such Indemnitee fully apprised of the status of such action, suit or proceeding and shall provide
such Indemnitee with all information with respect to such action, suit or proceeding as such Indemnitee shall reasonably request, and provided, further,
that the Lessee shall not be entitled to assume and control the defense of any such action, suit or proceeding if and to the extent that, (A) in the reasonable opinion of such Indemnitee's
counsel, (x) such action, suit or proceeding involves any risk of imposition of criminal liability on any Indemnitee or will involve a material risk of imposition of civil liability on any
Indemnitee or the sale, forfeiture or loss of, or the creation of any Lien (other than a Permitted Property Lien) on the Property or any part thereof or any interference with the payment of Rent
unless, in the case of civil liability only, the Lessee shall have posted a bond or other security reasonably satisfactory to the relevant Indemnitees in respect of such risk or (y) the control
of such action, suit or proceeding would involve an actual or potential conflict of interest, (B) such proceeding involves Claims not fully indemnified by the Lessee that the Lessee and the
Indemnitee have been unable to sever from the indemnified claim(s) or (C) a Lease Default or Lease Event of Default has occurred and is continuing. The Indemnitee will join in the Lessee's
efforts to sever such action. In the event that an Indemnitee has assumed control of any such proceeding, it shall keep the Lessee fully apprised of the status of such action, suit or proceeding and
shall provide the Lessee with all information with respect to such action, suit or proceeding as the Lessee may reasonably request. The Indemnitee may participate at its own expense and with its own
counsel in any proceeding conducted by the Lessee in accordance with the foregoing. The Lessee shall not enter into any settlement or other compromise with respect to any Claim which is entitled to be
indemnified under Section 13.1 or 13.3 without prior written consent of the Indemnitee, which consent shall not be unreasonably withheld in the case of a money settlement not involving an
admission of liability of such Indemnitee. 

        Upon
payment in full of any Claim by the Lessee pursuant to Section 13.1 or 13.3 to or on behalf of an Indemnitee, the Lessee, without any further action, shall be subrogated to
any and all claims that such Indemnitee may have relating thereto (other than claims in respect of insurance policies maintained by such Indemnitee at its own expense), and such Indemnitee shall
execute such instruments of assignment and conveyance, evidence of claims and payment and such other documents, instruments and agreements as may be necessary to preserve any such claims and otherwise
cooperate with the Lessee and give such further assurances as are necessary or advisable to enable the Lessee to pursue such claims. 

        Any
amount payable to an Indemnitee pursuant to Section 13.1 or 13.3 shall be paid to such Indemnitee promptly upon receipt of a written demand therefor from such Indemnitee,
accompanied by a written statement describing in reasonable detail the basis for such indemnity and the computation of the amount so payable. 

 Section 13.5. General Tax Indemnity. 

        (a)   Indemnification. (i) Without limitation of the rights of any Tax Indemnitee under any other indemnification
provision of this Article XIII or any other provisions of the Operative Documents, the Lessee shall pay and assume liability for, and does hereby agree to indemnify, 

38

 

protect
and defend the applicable Property and all Tax Indemnitees, and hold them harmless, on an After Tax Basis, against all Impositions, provided, however, that a person holding an interest in a
Note by means of an assignment or a participation therein shall be entitled to the benefits of indemnification pursuant to the provisions of this Section 13.5 only to the extent that the person
through whom it holds such assignment or participation is entitled to indemnification pursuant to this Section 13.5. 

        (ii)   It
is intended that all payments to or for the benefit of any Indemnitee under the Lease and/or the other Operative Documents (including without limitation, payments of
Supplemental Rent and Basic Rent under the Lease, and payments of Yield and Lessor Amount to the Investors), shall be made free and clear of and without deduction for any and all present or future
Impositions. If the Lessee, the Lessor, or any party making payments on behalf of either ("Applicable Payor") shall be required by law to deduct any
Impositions from or in respect of any amounts payable under the Lease or any other Operative Agreement to or for the benefit of any Indemnitee ("Applicable
Payee"), if such deductions are the result of a change in any U.S. treaty, law or regulation (A) the amounts payable by such Applicable Payor (as rent, interest or
otherwise) shall be increased by the amount necessary so that after making all required deductions the Applicable Payee shall receive an amount equal to the sum it would have received had no such
deductions been required, (B) the Applicable Payor shall make such deductions and (C) the Applicable Payor shall pay the full amount deducted to the relevant taxing authority or other
Governmental Authority in accordance with all applicable laws and legal requirements. The Lessee will indemnify each Indemnitee on demand for the full amount of any sums required to be increased by
such Applicable Payor pursuant to the second sentence of this Section 13.5(a)(ii) on an After Tax Basis and any liability the Indemnitee may incur or be required to pay. 

        (iii)  Subject
to the terms of Section 13.5(b), the Lessee shall pay or cause to be paid all Impositions directly to the taxing authorities where feasible and
otherwise to the Indemnitee, as appropriate, and the Lessee shall at its own expense, upon such Indemnitee's reasonable request, furnish to such Indemnitee copies of official receipts or other
satisfactory proof evidencing such payment. 

        (iv)  In
the case of Impositions for which no contest is conducted pursuant to Section 13.5(b) and which the Lessee pays directly to the taxing authorities, the Lessee
shall pay such Impositions (together with
any interest thereon) prior to the latest time permitted by the relevant taxing authority for timely payment (other than in the case of withholding taxes, which shall be paid simultaneously with the
payment under the Operative Agreement requiring such withholding). In the case of Impositions for which the Lessee reimburses an Indemnitee, the Lessee shall do so (together with any interest thereon)
within five (5) days after receipt by the Lessee of written demand by such Indemnitee describing in reasonable detail the nature of the Impositions and the basis for the demand (including the
computation of the amount payable and interest thereon). In the case of Impositions for which a contest is conducted pursuant to Section 13.5(b), the Lessee shall pay such Impositions or
reimburse such Indemnitee for such Impositions, to the extent not previously paid or reimbursed pursuant to subsection (i), prior to the latest time permitted by the relevant taxing authority for
timely payment after conclusion of all contests under Section 13.5(b) unless payment shall be required before commencement of such contest, in which case the Lessee shall pay such Impositions
or reimburse the Indemnitee for such Impositions prior to the latest time permitted by the relevant taxing authority for timely payment prior to commencement of such contest. 

        (v)   Impositions
imposed for a billing period during which the Lease expires or terminates (unless the Lessee has exercised the Purchase Option) shall be adjusted and 

39

 

prorated
on a daily basis between the Lessee and the Lessor, whether or not such Imposition is imposed before or after such expiration or termination and each party shall pay or reimburse the other
for each party's pro rata share thereof. 

        (vi)  The
determination of all Impositions to be paid or indemnified against by the Lessee under this Section 13.5(a) on an After Tax Basis shall first be made (in
good faith) by the Indemnitee. Such determination shall state with reasonable clarity and detail the basis for such determination. At the Lessee's request, the amount of any indemnity payment by the
Lessee pursuant to Section 13.5 shall be verified and certified by an independent public accounting firm selected by the Lessee and reasonably acceptable to the Indemnitee. Unless such
verification shall disclose an error in the Indemnitee's favor of 10% or more of the related indemnity payment, the costs of such verification shall be borne by the Lessee. In no event shall the
Lessee have the right to review the Indemnitee's tax returns or receive any other confidential information from the Indemnitee in connection with such verification. The Indemnitee agrees to cooperate
with the independent public accounting firm performing the verification and to supply such firm with all information reasonably necessary to permit such firm to accomplish such verification, provided
that the information provided to such firm by such Indemnitee shall be for its confidential use. The parties agree that the sole responsibility of the independent public accounting firm shall be to
verify the amount of the payment at issue pursuant to this Agreement and that matters of interpretation of this Agreement are not within the scope of the independent accounting firm's
responsibilities. 

        (b)   Contests. If any claim shall be made against any Tax Indemnitee or if any proceeding shall be commenced against any Tax
Indemnitee (including a written notice of such proceeding) for any Imposition as to which the Lessee may have an indemnity obligation pursuant to this Section 13.5, or if any Tax Indemnitee
shall reasonably and in good faith determine that any Imposition to which the Lessee may have an indemnity obligation pursuant to this Section 13.5 may be payable, such Tax Indemnitee shall
promptly (and in any event, within thirty (30) days) notify the Lessee in writing (provided that failure to so notify the Lessee within thirty
(30) days shall not alter such Tax Indemnitee's rights under this Section 13.5 except to the extent such failure precludes or materially adversely affects the ability to conduct a
contest of any Impositions) and shall not take any action with respect to such claim, proceeding or Imposition without the written consent of the Lessee (such consent not to be unreasonably withheld
or unreasonably delayed) for thirty (30) days after the receipt of such notice by the Lessee; provided, however, that in the case of any such
claim or proceeding, if such Tax Indemnitee shall be required by law or regulation to take action prior to the end of such thirty (30) day period, such Tax Indemnitee shall, in such notice to
the Lessee, so inform the Lessee and such Tax Indemnitee shall not take any action with respect to such claim, proceeding or Imposition without the consent of the Lessee (such consent not to be
unreasonably withheld or unreasonably delayed) for ten (10) days after the receipt of such notice by the Lessee unless such Tax Indemnitee shall be required by law or regulation to take action
prior to the end of such ten (10) day period. 

        The
Lessee shall be entitled for a period of thirty (30) days from receipt of such notice from such Tax Indemnitee (or such shorter period as such Tax Indemnitee has notified the
Lessee is required by law or regulation for such Tax Indemnitee to commence such contest), to request in writing that such Tax Indemnitee contest the Imposition, at the Lessee's sole expense. If
(x) such contest can be pursued in the name of the Lessee and independently from any other proceeding involving an Imposition of such Tax Indemnitee for which the Lessee has not agreed to
indemnify such Tax Indemnitee or (y) such Tax Indemnitee so requests, then the Lessee shall be permitted to control the contest of such claim,  provided that in the case of any such contest, if such
Tax Indemnitee determines reasonably and in good faith that such contest by the Lessee could have
a material adverse impact on the business or operations of such Tax Indemnitee (and in the case of clause (x), will not have a material adverse impact on Lessee) and provides a written
explanation to the Lessee of such determination, such Tax 

40

 

Indemnitee
may elect to control or reassert control of the contest and reasonably pursue resolution of such contest, and provided that by taking control
of the contest, the Lessee acknowledges that it is solely responsible for the Imposition ultimately determined to be due by reason of such contest, and provided,
further, that in determining the application of clause (x) above, each Tax Indemnitee shall take any and all reasonable steps to segregate claims for any Taxes for which
the Lessee indemnifies hereunder from Taxes for which the Lessee is not obligated to indemnify hereunder, so that the Lessee can control the contest of the former. In all other claims relating to
Impositions requested to be contested by the Lessee, such Tax Indemnitee shall control the contest of such claim, acting through counsel reasonably acceptable to the Lessee. Notwithstanding anything
to the contrary contained herein, in no event shall the Lessee be permitted to pursue or continue any contest (or such Tax Indemnitee be required to pursue or continue any contest) of any Imposition
or claim thereof through any action, suit or proceeding (A) if such Tax Indemnitee provides the Lessee with a legal opinion of independent counsel reasonably acceptable to the Lessee that such
action, suit or proceeding involves a risk of imposition of criminal liability on any Tax Indemnitee or will involve a material risk of imposition of civil liability on any Tax Indemnitee or the sale,
forfeiture or loss of, or the creation of any Lien (other than a Permitted Property Lien) on the Property or any part thereof or any interference with the payment of Rent unless, with respect to civil
liability only, the Lessee shall have posted a bond or other security reasonably satisfactory to the relevant Tax Indemnitees in respect of such risk, (B) if a Lease Default or Lease Event of
Default has occurred and is continuing, (C) unless the Lessee shall have agreed to pay and shall pay to such Tax Indemnitee on demand and on an After Tax Basis all reasonable
out-of-pocket costs, losses and expenses that such Tax Indemnitee may incur in connection with contesting such Imposition or claim thereof, including all reasonable legal,
accounting and investigatory fees and disbursements as well as the Impositions which are the subject of such contest to the extent the contest is unsuccessful, or (D) if such contest shall
involve the payment of the Imposition prior to the contest, unless the Lessee shall provide to such Tax Indemnitee an interest-free advance in an amount equal to the Imposition that the
Tax Indemnitee is so required to pay on an After Tax Basis and (E) prior to commencing any contest, the Lessee shall have acknowledged in writing its liability for the Imposition (if and to the
extent that the Tax Indemnitee or Lessee, as the case may be, shall not prevail in the contest in respect of the Imposition). In addition, no contest of any Imposition shall be required:
(A) unless the amount of the potential indemnities (taking into account all similar or logically related claims that have been or are likely to be raised in any audit involving such Tax
Indemnitees for which the Lessee may be liable to pay an indemnity under this Section 13.5(b)) exceeds $50,000 and (B) unless, if requested by such Tax Indemnitee, the Lessee shall have
provided to such Tax Indemnitee at the Lessee's sole expense, an opinion of independent counsel selected by the Lessee and reasonably acceptable to the Tax Indemnitee that a reasonable basis exists to
contest such Imposition (or, in the case of an appeal from an adverse judicial determination, that there is substantial authority for a reversal or favorable modification of such decision of such
appeal). In no event shall a Tax Indemnitee be required to appeal
an adverse judicial determination to the United States Supreme Court. 

        The
party conducting and controlling the contest of an Imposition shall consult in good faith with the other party and its counsel with respect to such contest (or claim for refund) but
the decisions regarding what actions are to be taken with respect to such contest shall be made by the controlling party in its sole judgment. In addition, the party controlling the contest shall keep
the non-controlling party reasonably informed as to the progress of the contest, and shall provide the noncontrolling party with a copy of (or appropriate excerpts from) any reports or
claims issued by the relevant Governmental Authority to the controlling party thereof, relating to such contest. 

        Each
Tax Indemnitee shall, at the Lessee's sole expense, supply the Lessee with such information and documents reasonably requested by the Lessee as are necessary or advisable for the
Lessee to participate in any action, suit or proceeding to the extent permitted by this Section 13.5(b) so long as such information or documents are not, in the reasonable judgment of the Tax
Indemnitee, confidential 

41

 

information
or documents. Notwithstanding anything in this Section 13.5(b) to the contrary, so long as no Lease Event of Default shall have occurred and be continuing, no Tax Indemnitee shall
enter into any settlement or other compromise or fail to appeal an adverse determination with respect to any claim for an Imposition for which it is entitled to be indemnified under this
Section 13.5 (and with respect to which contest is required under this Section 13.5(b)) without the prior written consent of the Lessee (which shall not be unreasonably withheld or
delayed), unless such Tax Indemnitee waives its right to be indemnified under this Section 13.5 with respect to such claim pursuant to the next paragraph. 

        Notwithstanding
anything contained herein to the contrary, a Tax Indemnitee will not be required to contest or continue to contest (and the Lessee shall not be permitted to contest or
continue to contest) a claim with respect to any Imposition and shall be permitted to settle or commence any such claim without the consent of Lessee if (i) such Tax Indemnitee shall waive its
right to indemnification under this Section 13.5 with respect to such claim (and any claim with respect to such year or any other taxable year the contest of which is materially adversely
affected as a result of such waiver) and the Tax Indemnitee returns to the Lessee all amounts previously advanced to the Indemnitee with respect to the contest of such claim or (ii) such
Imposition is the sole result of a claim of a continuing and consistent nature, which claim has previously been resolved against the relevant Tax Indemnitee (unless a change in law or facts has
occurred since such prior adverse resolution and the Lessee provides an opinion of independent tax counsel reasonably satisfactory to the Tax Indemnitee to the effect that it is more likely than not
that such change in law or facts will result in a favorable resolution of the claim at issue). 

        (c)   [Intentionally
omitted] 

        (d)   Payments. Any Imposition indemnifiable under this Section 13.5 shall be paid when due directly to the applicable
taxing authority if such direct payment is practicable and permitted. If direct payment to the applicable taxing authority is not permitted or is otherwise not made, any amount payable to a Tax
Indemnitee pursuant to this Section 13.5 shall be paid to the Tax Indemnitee within thirty (30) days after receipt of a written demand therefor from such Tax Indemnitee, which demand
shall be, accompanied by a written statement describing in reasonable detail the amount so payable, but not before ten (10) Business Days prior to the date that the relevant Imposition is due.
Any payments made pursuant to this Section 13.5 shall be made directly to such Tax Indemnitee entitled thereto or the Lessee, as the case may be, in immediately available funds at such bank or
to such account as specified by the payee in written directions to the payor, or, if no such direction shall have been given, by check of the payor payable to the order of the payee by certified mail,
postage prepaid at its address as set forth in Schedule II hereto. Upon the request of any Tax Indemnitee with respect to Impositions that the Lessee is required to pay, the Lessee shall
furnish to such Tax Indemnitee the original or a certified copy of a receipt for the Lessee's payment of such Imposition or such other evidence of payment as is reasonably acceptable to such Tax
Indemnitee. 

        (e)   Reports. In the case of any report, return or statement required to be filed with respect to any Impositions that are
subject to indemnification under this Section 13.5, the Lessee shall promptly notify such Tax Indemnitee of such requirement and, at the Lessee's sole expense (i) if the Lessee is
permitted by Applicable Law, timely file such report, return or statement in its own name and send a copy of such report, return or statement to the Tax Indemnitee, or (ii) if such report,
return or statement is required to be in the name of or filed by such Tax Indemnitee, or the Tax Indemnitee otherwise requests that such report, return or statement be filed in the name of or by such
Tax Indemnitee, the Lessee shall prepare and furnish such report, return or statement in such manner as shall be satisfactory to such Tax Indemnitee and shall send the same to such Tax Indemnitee for
filing no later than fifteen (15) days prior to the due date therefor. In any case in which such Tax Indemnitee will file any such report, return or statement, the Lessee shall, upon written
request of such Tax 

42

 

Indemnitee,
provide such Tax Indemnitee with such information as is reasonably necessary to allow such Tax Indemnitee to file such report, return or statement. 

        (f)    [Intentionally
Omitted.] 

        (g)   Disclosure. Any obligations of confidentiality contained in or applicable to this Participation Agreement or the other
Operative Documents, as they relate to the terms and provisions of this Participation Agreement and the Transactions, shall not apply to the federal tax structure or federal tax treatment of the
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 the Transactions. It is the intention of the Parties that the Transaction shall 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 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 federal tax structure of the Transactions or any federal tax matter or federal tax idea
related to the Transactions. 

        Section 13.6. Indemnity Payments in Addition to Lease Obligations.    The Lessee acknowledges and agrees that the
Lessee's obligations to make indemnity payments under this Article XIII are separate from, in addition to, and do not reduce, the Lessee's obligations to pay any amounts owing from time to time
under the Lease. 

 
 

ARTICLE XIV
  [INTENTIONALLY RESERVED]    
    

 
 

ARTICLE XV
  MISCELLANEOUS    
    

        Section 15.1. Survival of Agreements.    The representations, warranties, covenants, indemnities and agreements of the
parties provided for in the Operative Documents, and the parties' obligations under any and all thereof, shall survive the execution and delivery of this Participation Agreement, the transfer of the
Property to the Lessor, any disposition of any interest of the Lessor, the Lessee or any Purchaser in the Property and the payment of the Notes and the Lessor Amounts, and shall be and continue in
effect to the extent set forth in such Operative Documents notwithstanding any investigation made by any party and the fact that any party may waive compliance with any of the other terms, provisions
or conditions of any of the Operative Documents. Except as otherwise expressly set forth herein or in the other Operative Documents, the indemnities of the parties provided for in the Operative
Documents shall survive the expiration or termination of any thereof. 

        Section 15.2. No Broker, Etc.    Each of the parties hereto represents to the others that it has not retained or employed
any broker, finder or financial adviser to act on its behalf in connection with this Participation Agreement or the transactions contemplated herein or in the other Operative Documents nor has it
authorized any broker, finder or financial adviser retained or employed by any other Person so to act, except that the Lessee has engaged the Arranger to act as placement agent. In the event that any
party retains any other broker, finder or financial advisor, such party will promptly notify the other parties in writing of such broker, finder or financial advisor. Any party which is in breach of
this representation shall indemnify and hold the other parties harmless from and against any liability arising out of such breach of this representation. 

        Section 15.3. Notices.    Unless otherwise specifically provided herein, all notices, consents, directions, approvals,
instructions, requests and other communications required or permitted by the terms hereof to be given to any Person (a) shall be directed to the address or facsimile number of such Person as
indicated on Schedule II hereof and (b) shall be given in writing by United States mail, by 

43

 

nationally
recognized courier service, by hand or by facsimile, and any such notice shall become effective (i) if delivered by United States mail, three (3) Business Days after being
deposited in the mail, certified or registered with appropriate postage prepaid, (ii) if delivered by a nationally recognized courier service, upon delivery to the intended recipient,
(iii) if delivered by hand, when received or (iv) if delivered by facsimile, when transmitted (upon electronic confirmation thereof)  provided that any facsimile transmitted after
5:00 p.m. (recipient time) shall be deemed to have been received on the next Business Day. From
time to time any party may designate a new address or facsimile number for purposes of notice hereunder by written notice to each of the other parties hereto in accordance with this Section. 

        Section 15.4. Counterparts.    This Participation Agreement may be executed by the parties hereto in separate
counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same instrument. 

        Section 15.5. Amendments, Etc.    Neither any Operative Document nor any of the terms thereof may be terminated (except
as expressly required under the terms of any Operative Document or upon payment in full of the Lease Balance or effective exercise and consummation of the Remarketing Option in accordance with
Article XX of the Master Lease and payment in full of all amounts due in accordance therewith), amended, supplemented, waived or modified without the written agreement or consent of the
Required Participants; provided, however, that: 

        (a)   no
such termination, amendment, supplement, waiver or modification shall without written agreement or consent of each Participant: 

        (i)    modify
any of the provisions of this Section 15.5, change the definition of "Required Purchasers", "Required Series B Participants", "Required
Participants" or modify or waive any provision of any Operative Document requiring action by the foregoing; 

        (ii)   amend,
modify, waive or supplement any of the provisions of Section 9.1 of the Indenture; 

        (iii)  reduce,
modify, amend or waive any fees or indemnities in favor of any Participant, including without limitation amounts payable pursuant to Article XIII hereof
(except that any Person may consent to any reduction, modification, amendment or waiver of any indemnity payable to it); 

        (iv)  modify,
postpone, reduce or forgive, in whole or in part, any payment of Rent (other than pursuant to the terms of any Operative Document), any payment of any Note or
Lessor Amount, the Lease Balance, the Note Balance, the Lessor Balance and any other fee payable hereunder, amounts due pursuant to Section 20.2 of the Master Lease, interest or Yield or
Make-Whole Amount (except that any Person may consent to any modification, postponement, reduction or forgiveness of any payment of any fee payable to it) or, subject to subclause
(iii) above, any other amount payable under the Lease or this Participation Agreement, or modify the definition or method of calculation of Rent (other than pursuant to the terms of any
Operative Document), Maximum Recourse Amount, Notes or Lessor Amounts, Lease Balance, Note Balance, Shortfall Amount, Participant Balance, Make-Whole Amount, Yield or any other definition
which would affect the amounts to be advanced or which are payable under the Operative Documents; or 

        (v)   consent
to any assignment of the Master Lease or the Lease Supplement by the Lessee except as expressly permitted by the Operative Documents, release Lessee from its
obligations in respect of the payments of Rent or Lease Balance or change the absolute and unconditional character of such obligations or release any Collateral from the Liens created by the Operative
Documents; or 

44

 

        (vi)  release
of any Lien granted by the Lessee or the Lessor under the Operative Documents, except as provided in the Operative Documents, or release the Lessee Guarantor
from any of its obligations under the Guaranty; 

        (b)   no
such termination, amendment, supplement, waiver or modification of any provision of the Operative Documents that has the effect of invalidating, limiting, voiding,
restricting or otherwise altering the coverage available under the RVI Policy shall be effective without the written consent of the Lessor and each Purchaser holding Series B Notes and the
Lessor and each Purchaser holding Series B Notes shall be entitled to request written confirmation satisfactory to it regarding the effect of
such termination, amendment, supplement, waiver or modification as the same relates to the RVI Policy; and 

        (c)   (i) without
the prior written consent of a Participant, no termination, amendment, supplement, waiver or modification of any provision of any Operative document
shall impose or create any additional obligations or liabilities on the part of such Participant and (ii) without the prior written consent of the Lessor, Section 13.8 of the Indenture
(and the corresponding provisions contained in each of the Notes) shall not be amended, waived, modified or otherwise supplemented. 

        Section 15.6. Headings, Etc.    The Table of Contents and headings of the various Articles and Sections of this
Participation Agreement are for convenience of reference only and shall not modify, define, expand or limit any of the terms or provisions hereof. 

        Section 15.7. Parties in Interest.    Except as expressly provided herein, none of the provisions of this Participation
Agreement is intended for the benefit of any Person except the parties hereto; provided, that the RVI Provider is a third-party beneficiary of this
Participation Agreement. No party hereto shall assign or transfer any of its rights or obligations under the Operative Documents except in accordance with the terms and conditions thereof. 

        Section 15.8. GOVERNING LAW.    THIS PARTICIPATION AGREEMENT AND THE OTHER OPERATIVE DOCUMENTS
(EXCEPT AS OTHERWISE PROVIDED IN ANY OPERATIVE DOCUMENT) AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAWS OF THE
STATE OF NEW YORK (EXCLUDING ANY CONFLICTS OF LAW RULES WHICH WOULD OTHERWISE CAUSE THIS PARTICIPATION AGREEMENT TO BE CONSTRUED OR ENFORCED IN ACCORDANCE WITH, OR THE RIGHTS OF THE PARTIES TO BE
GOVERNED BY, THE LAWS OF ANY OTHER JURISDICTION).

        Section 15.9. Severability.    Any provision of this Participation Agreement that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

        Section 15.10. SUBMISSION TO JURISDICTION.    EACH PARTY HERETO HEREBY SUBMITS TO THE
NONEXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK FOR PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS PARTICIPATION AGREEMENT OR
ANY OF THE OTHER OPERATIVE DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER
HAVE TO THE LAYING OF THE VENUE OF ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT
FORUM.

        Section 15.11. No Participant Responsible for Other Participants.    The obligations of each Participant under this
Participation Agreement and the other Operative Documents are several and not joint; and 

45

 

in
the event of a failure by a Participant to perform any of its obligations hereunder or under any other Operative Document, neither the Indenture Trustee, the Lessor nor any other Purchaser (other
than the defaulting Participant) shall have any liability as a consequence thereof. 

        [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

46

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

	 	 	SABRE HOLDINGS CORPORATION, as Lessee Guarantor
	

 	
 	

By	

 	

 
	 	 	 	 	

	 	 	 	 	Name	

	 	 	 	 	Its	

	

 	
 	
SABRE INC., as Lessee
	

 	
 	

By	

 	

 
	 	 	 	 	

	 	 	 	 	Name	

	 	 	 	 	Its	

	

 	
 	
CSL LEASING INC., as Lessor
	

 	
 	

By	

 	

 
	 	 	 	 	

	 	 	 	 	Name	

	 	 	 	 	Its	

	

 	
 	
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA, as Purchaser
	

 	
 	

By	

 	

 
	 	 	 	 	

	 	 	 	 	Name	

	 	 	 	 	Its	

S-1

 

	 	 	BAYSTATE INVESTMENTS, LLC, as Purchaser
	 	 	 	By:	Prudential Private Placement Investors, L.P., as Investment Advisor
	 	 	 	By:	Prudential Private Placement Investors, Inc., General Partner
	

 	
 	

By	

 
	 	 	 	 	
 Name:

Title:
	

 	
 	
RGA REINSURANCE COMPANY, as Purchaser
	 	 	 	By:	Prudential Private Placement Investors, L.P., as Investment Advisor
	 	 	 	By:	Prudential Private Placement Investors, Inc., General Partner
	

 	
 	

By	

 
	 	 	 	 	
 Name:

Title:
	

 	
 	
JOHN HANCOCK LIFE INSURANCE COMPANY, as Purchaser
	

 	
 	

By	

 
	 	 	 	 	
 Name:

Title:
	

 	
 	
JOHN HANCOCK VARIABLE LIFE INSURANCE COMPANY, as Purchaser
	

 	
 	

By	

 
	 	 	 	 	
 Name:

Title:
	 	 	 	 

S-2

 

	

 	
 	
INVESTORS PARTNER LIFE INSURANCE COMPANY, as Purchaser
	

 	
 	

By	

 
	 	 	 	 	
 Name:

Title:
	

 	
 	
SIGNATURE 6 LIMITED, as Purchaser
	 	 	 	By:	John Hancock Life Insurance Company, as Portfolio Advisor
	

 	
 	

By	

 
	 	 	 	 	
 Name:

Title:
	

 	
 	
GOLDMAN SACHS INTERNATIONAL, as Purchaser
	

 	
 	

By	

 
	 	 	 	 	
 Name:

Title:
	

 	
 	

*Notwithstanding any provision to the contrary contained in this indenture, the issuer acknowledges and agrees that (i) Goldman Sachs International is executing this indenture in connection with a collateral debt obligation transaction (the
"CDO Transaction") pursuant to which John Hancock Life Insurance Company will serve as the portfolio advisor to Signature 7 L.P., (ii) if the closing of the CDO Transaction occurs, Goldman Sachs International will sell the securities to
Signature 7 L.P. and (iii) the representations, warranties and covenants made by Goldman Sachs International in this indenture shall be construed in light of the circumstances described in (i) and (ii) above
	 	 	 	 

S-3

 

	 	 	THE TRAVELERS INSURANCE COMPANY, as Purchaser
	

 	
 	

By	

 
	 	 	 	 	
 Name:

Title:
	

 	
 	
THE TRAVELERS LIFE AND ANNUITY COMPANY, as Purchaser
	

 	
 	

By	

 
	 	 	 	 	
 Name:

Title:
	

 	
 	
PRIMERICA LIFE INSURANCE COMPANY, as Purchaser
	

 	
 	

By	

 
	 	 	 	 	
 Name:

Title:
	

 	
 	
THE CANADA LIFE ASSURANCE COMPANY, as Purchaser
	

 	
 	

By	

 
	 	 	 	 	
 Name:

Title:
	 	 	 	 

S-4

 

	

 	
 	
CANADA LIFE INSURANCE COMPANY

of New York, as Purchaser
	

 	
 	

By	

 
	 	 	 	 	
 Name:

Title:
	

 	
 	
SWISS RE LIFE AND HEALTH, INC., as Purchaser

By:    Swiss Re Asset Management (Americas), Inc.
	

 	
 	

By	

 
	 	 	 	 	
 Name:    Kevin Higgins

Title:    Vice President
	

 	
 	
BENEFICIAL LIFE INSURANCE COMPANY, as Purchaser
	

 	
 	

By	

 
	 	 	 	 	
 Name:

Title:

	

 	
 	
WILMINGTON TRUST COMPANY, as Indenture Trustee
	

 	
 	

By	

 	

 
	 	 	 	 	

	 	 	 	 	Name	

	 	 	 	 	Its	

S-5

  

 
 

APPENDIX A
  TO PARTICIPATION AGREEMENT    
    

        A.    Interpretation.    In each Operative Document, unless a clear contrary intention appears: 

        (i)    the
singular number includes the plural number and vice versa; 

        (ii)   reference
to any Person includes such Person's successors and assigns but, if applicable, only if such successors and assigns are permitted by the Operative Documents,
and reference to a Person in a particular capacity excludes such Person in any other capacity or individually; 

        (iii)  reference
to any gender includes each other gender; 

        (iv)  reference
to any agreement, document or instrument or schedule or exhibit thereto (including any Operative Document) means such agreement, document or instrument as
amended or modified and in effect from time to time in accordance with the terms thereof and, if applicable, the terms of the other Operative Documents, and reference to any promissory note includes
any promissory note which is an extension or renewal thereof or a substitute or replacement therefor; 

        (v)   reference
to any Requirement of Law means such Requirement of Law as amended, modified, codified, replaced or reenacted, in whole or in part, and in effect from time to
time, including rules and regulations promulgated thereunder, and reference to any section or other provision of any Requirement of Law means that provision of such Requirement of Law from time to
time in effect and constituting the substantive amendment, modification, codification, replacement or reenactment of such section or other provision; 

        (vi)  reference
in any Operative Document to any Article, Section, Appendix, Schedule or Exhibit means such Article or Section thereof or Appendix, Schedule or Exhibit
thereto, and reference in any Section of any Operative Document to any clause means such clause of such Section; 

        (vii) "hereunder,"
"hereof," "hereto" and words of similar import shall be deemed references to an Operative Document as a whole and not to any particular Article, Section
or other provision thereof; 

        (viii) "including"
(and with correlative meaning "include") means including without limiting the generality of any description preceding such term; and 

        (ix)  with
respect to any rights and obligations of the parties under the Operative Documents, all such rights and obligations shall be construed to the extent permitted by
Applicable Law. 

        B.    Computation of Time Periods.    Unless otherwise specified in any Operative Document, for purposes of
computation of periods of time under the Operative Documents, the word "from" means "from and including" and the words "to" and "until" each mean "to but excluding." 

        C.    Accounting Terms and Determinations.    Unless otherwise specified herein, all accounting terms used therein
shall be interpreted, all accounting determinations thereunder shall be made, and all financial statements required to be delivered thereunder shall be prepared in accordance with GAAP, applied on a
basis consistent (except for changes concurred in by the Lessee's independent public accountants) with the most recent audited consolidated financial statements of the Lessee Guarantor and its
Subsidiaries delivered to the Participants. 

        D.    Conflict in Operative Documents.    If there is any conflict between any Operative Documents, such Operative
Documents shall be interpreted and construed, if possible, so as to avoid or minimize such conflict but, to the extent (and only to the extent) of such conflict, the Participation Agreement shall
prevail and control. 

1

 

        E.    Legal Representation of the Parties.    The Operative Documents were negotiated by the parties with the benefit
of legal representation and any rule of construction or interpretation otherwise requiring the Operative Documents to be construed or interpreted against any party shall not apply to any construction
or interpretation hereof or thereof. 

        F.    Defined Terms.    Unless a clear contrary intention appears or unless otherwise defined therein, the following
defined terms shall have the respective indicated meanings when used in each Operative Document. 

        "Account" means the account identified by the Indenture Trustee in a writing delivered to Lessee into which all payments by the Lessee
under the Operative Documents shall be made. The Account shall be specified on Schedule II to the Participation Agreement, as such Schedule may from time to time be amended, supplemented,
amended and restated or otherwise modified. 

        "Acquisition Date" is defined in Section 6.1 of the Participation Agreement. 

        "Actual Knowledge" means (a) as it applies to the Indenture Trustee, actual knowledge of, including any written notices received
by, an officer in the Corporate Trust Department of the Indenture Trustee and (b) as it applies to the Lessor, actual knowledge of, including any written notices received by the President, any
Vice President, the Treasurer or the Secretary or any other officer whose responsibilities include administration of the Transactions; provided,  however,
that the Lessor and the Indenture Trustee shall be deemed to have "actual knowledge" of any matter as to which such Person has been given
notice by any party to any Operative Document pursuant to Section 26.4 of the Lease or by any Purchaser or the Indenture Trustee pursuant to Section 15.3 of the Indenture. 

        "Advance" means an advance of funds by the applicable Purchasers to the Lessor and the Lessor making funds available to acquire legal
title to the Property pursuant to Article III of the Participation Agreement. 

        "Affiliate" means, as to any Person, (i) any other Person (a "Controlling Person")
that directly, or indirectly through one or more intermediaries, controls such Person or (ii) any Person (other than such Person and its Subsidiaries) which is controlled by or is under common
control with a Controlling Person provided, however, that the Indenture Trustee shall not be deemed to be an Affiliate of the Purchasers and  vice versa. As
used herein, the term "control" means possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of a Person, whether through the ownership of voting securities, by contract or otherwise. 

        "After Tax Basis" means, with respect to any payment to be received, the amount of such payment increased so that, after deduction of the
amount of all taxes required to be paid by the recipient (less any tax savings actually realized by the recipient as a result of the payment of the indemnified amount) with respect to the receipt by
the recipient of all such amounts, such increased payment (as so reduced) is equal to the payment otherwise required to be made. 

        "Aggregate Commitment Amount" means, on any date, $178,900,000 as such amount may be reduced from time to time pursuant to
Section 4.3(b) of the Participation Agreement. 

        "Anti-Terrorism Order" means Executive Order No. 13,224 66 Fed Reg. 49,079 (2001) issued by the President of the United
States of America (Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism). 

        "Applicable Law" means all federal, state, county, municipal and other governmental statutes, laws, rules, orders, regulations,
ordinances, judgments, decrees and injunctions affecting the Property, the Improvements thereon or the demolition, construction, use or alteration thereof, whether now or hereafter enacted and in
force, including any that require repairs, modifications or alterations in or to the Property or in any way limited the use and enjoyment thereof (including all building, zoning and fire codes and the
Americans with Disabilities Act of 1990, 42 U.S.C. § 1201 et seq. and any other 

2

 

similar
federal, state or local laws or ordinances and the regulations promulgated thereunder) and any that may relate to environmental requirements (including all Environmental Laws), and all
permits, certificates of occupancy, licenses, authorizations and regulations relating thereto, and all covenants, agreements, restrictions and encumbrances contained in any instruments that are of
record affecting the Property, the Appurtenant Rights and any easements, licenses or other agreements entered into pursuant to Section 11.2 of the Master Lease. 

        "Appraisal" means, with respect to the Property, an appraisal of the Fair Market Sales Value of the Property, which appraisal complies in
all material respects with all of the provisions of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended, the rules and regulations adopted pursuant thereto, and all
other applicable Requirements of Law, and is addressed to the Indenture Trustee, each Purchaser and the Lessor. Each Appraisal shall be prepared by an Appraiser selected by the Required Participants
and reasonably acceptable to the Lessee. 

        "Appraiser" means the appraiser that prepared an Appraisal of the Property or such other Person selected by the Required Participants. 

        "Appurtenant Rights" means, with respect to any Land, (i) all agreements, easements, rights of way or use, rights of ingress or
egress, privileges, appurtenances, tenements, and other rights and benefits at any time belonging or pertaining to such Land or the Improvements thereon, including, without limitation, the use of any
streets, ways, alleys, vaults or strips of land adjoining, abutting, adjacent or contiguous to such Land and (ii) all permits, licenses and rights, whether or not of record, appurtenant to such
Land. 

        "Arranger" means J.P. Morgan Securities Inc., in its capacity as arranger. 

        "Assigned Leases" is defined in Section 2(a) of the Assignment of Lease and Rent. 

        "Assignment of Lease and Rent" means the Assignment of Lease and Rent and Security Agreement dated as of June 15, 2003, from the
Lessor, as assignor, to the Indenture Trustee for the benefit of the Purchasers, as assignee, substantially in the form of Exhibit F to the
Participation Agreement, as the same may be amended, supplemented, amended and restated or otherwise modified from time to time. 

        "Authorized Officer" means (i) as to the Lessee, the Chairman of the Board, the President, the Executive Vice President and Chief
Financial Officer, the Vice President and Treasurer and any other officer of the Lessee authorized by the board of directors of the Lessee to execute and deliver any Operative Document on behalf of
the Lessee and (ii) as to the Lessor, any officer of the Lessor authorized by the board of directors of the Lessor to execute and deliver any Operative Document on behalf of the Lessor. 

        "Bankruptcy Code" means Title 11 of the United States Code entitled "Bankruptcy" as now or hereafter in effect or any successor thereto. 

        "Basic Rent" means the sum of (i) the Purchaser Basic Rent and (ii) the Lessor Basic Rent, calculated as of the applicable
date on which Basic Rent is due. 

        "Bill of Sale" is defined in Section 6.1(j) of the Participation Agreement. 

        "Business Day" means a day other than a Saturday, Sunday or other day on which commercial banks in Dallas, Texas, Wilmington, Delaware or
New York, New York are authorized or required by law to close. 

        "Called Principal" means, with respect to any Note or Lessor Amount, the principal of such Note or Lessor Amount that is to be prepaid
pursuant to any Operative Document or has become or is declared to be immediately due and payable pursuant to any Operative Document, as the context requires. 

3

 

        "Casualty" means any damage or destruction of all or any portion of the Property as a result of a fire, flood, earthquake or other
casualty. 

        "CERCLA" means the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, 42 U.S.C.
§§ 9601 et seq., as amended by the Superfund Amendments and Reauthorization Act of 1986. 

        "Certifying Party" is defined in Section 22.1 of the Master Lease. 

        "Change in Control" is defined in Section 10.2 of the Participation Agreement. 

        "Claims" means any and all obligations, liabilities, losses, actions, suits, judgments, penalties, fines, claims, demands, settlements,
costs and expenses (including, without limitation, reasonable legal fees and expenses) of any nature whatsoever, but shall not include Taxes or Impositions. 

        "Code" means the Internal Revenue Code of 1986, as amended, and regulations promulgated thereunder. 

        "Collateral" means any collateral pledged by the Lessor to the Indenture Trustee pursuant to the Operative Documents to secure the
Lessor's obligations under the Indenture and the Notes, but excluding any Excepted Payments and Excepted Rights. 

        "Commitment" means (i) as to any Purchaser, its Note Commitment, and (ii) as to the Lessor, the Lessor Commitment. 

        "Commitment Percentage" means, with respect to any Participant, the percentage set forth opposite such Participant's name under the
heading "Commitment Percentage" on Schedule I to the Participation Agreement. 

        "Condemnation" means any condemnation, requisition, confiscation, seizure or other taking or sale of the use, access, occupancy, easement
rights or title to the Property or any part thereof, wholly or partially (temporarily or permanently), by or on account of any actual or threatened eminent domain proceeding or other taking of action
by any Person having the power of eminent domain, including an action by a Governmental Authority to change the grade of, or widen the streets adjacent to, the
Property or alter the pedestrian or vehicular traffic flow to the Property so as to result in change in access to the Property, or by or on account of an eviction by paramount title or any transfer
made in lieu of any such proceeding or action. A "Condemnation" shall be deemed to have occurred on the earliest of the dates that use, occupancy or title vests in the condemning authority. 

        "Consolidated Net Income" means, as of any date for the four fiscal quarter period ending on such date or most recently ended with respect
to the Lessee Guarantor and its consolidated Subsidiaries on a consolidated basis, net income (excluding extraordinary items) for such period determined in accordance with GAAP. 

        "Consolidated Net Worth" means, as of any date with respect to the Lessee Guarantor and its consolidated Subsidiaries on a consolidated
basis, shareholders' equity or net worth, as determined in accordance with GAAP. 

        "Contract Rents" is defined in Section 2(b) of the Assignment of Lease and Rent. 

        "Contracts" is defined in Section 2(b) of the Assignment of Lease and Rent. 

        "Control Event" is defined in Section 10.2 of the Participation Agreement. 

        "Controlled Group" means all members of a controlled group of corporations and all trades or businesses (whether or not incorporated)
under common control which, together with the Lessee, the Lessee Guarantor or any of their respective Subsidiaries, are treated as a single employer under Section 414 of the Code. 

4

 

        "Deed" means a special warranty deed with respect to the real property comprising the Property, in conformity with Applicable Law and
appropriate for recording with the applicable Governmental Authorities, conveying fee simple title to such real property to the Lessor, subject only to Permitted Property Liens. 

        "Deed of Trust" means the Deed of Trust and Security Agreement with Assignment of Rents between the Lessor and the Indenture Trustee and
joined by the Lessee, substantially in the form of Exhibit G to the Participation Agreement. 

        "Default" means any condition, occurrence or event that, after notice or lapse of time or both, would constitute an Event of Default. 

        "Discounted Value" means, with respect to the Called Principal of any Note or Lessor Amount, the amount obtained by discounting all
Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted
financial practice and at a discount factor (applied on the same periodic basis as that on which interest on the Notes or Yield on the Lessor Amounts, as applicable, is payable) equal to the
Reinvestment Yield with respect to such Called Principal. 

        "Documentation Date" is defined in Section 2.1 of the Participation Agreement. 

        "Dollars" and "$" mean dollars in lawful currency of the United States. 

        "End of the Term Report" is defined in Section 13.2(a) of the Participation Agreement. 

        "Environmental Audit" means, with respect to the Property, a Phase One environmental site assessment (the scope and performance of which
meets or exceeds the then most current ASTM Standard Practice E1527 for Environmental Site Assessments: Phase One Environmental Site Assessment Process) of the Property. 

        "Environmental Laws" means any and all applicable federal, state, local or municipal laws, rules, orders, regulations, statutes,
ordinances, codes, permits, licenses, authorizations, decrees or other legal requirement regulating, relating to or imposing liability or standards of conduct concerning protection of human health or
the environment or the use, storage, recycling, handling, disposal, discharge, transport, treatment or generation of Hazardous Materials, as now or may at any time be in effect during the Lease Term,
including CERCLA, RCRA, the Clean Air Act, 42 U.S.C. §7401 et seq., the Toxic Substances
Control Act, 15 U.S.C. §2601 et seq. and any rules and regulations promulgated thereunder. 

        "Environmental Violation" means, with respect to the Property, any activity, occurrence or condition that violates, or results in
non-compliance with any Environmental Law. 

        "Equipment" means the office furniture and fixtures and audiovisual equipment subject to the Master Lease and described in
Appendix A of the appraisal dated May    , 2003, performed by American Appraisal Associates and addresses to JP Morgan Leasing Inc. and all other equipment, apparatus,
fittings and personal property of every kind and nature whatsoever purchased, leased or otherwise acquired by the Lessor using the proceeds of the sale of the Notes and/or the Lessor Amounts and now
or subsequently attached to, contained in or used or usable in any way in connection with any operation or letting of the Property, including but without limiting the generality of the foregoing, all
furniture and furnishings, heating, electrical, switch gear, power supply, lightening, plumbing, ventilation, air conditioning and air cooling systems, refrigerating equipment, generators, locking and
unlocking equipment, communication systems, sprinkler system and fire prevention systems, security systems and fixtures of all kinds; provided however,
that the term "Equipment" shall expressly exclude all inventory. 

5

 

        "ERISA" means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations promulgated and
rulings issued thereunder. 

        "ERISA Affiliate" means any trade or business (whether or not incorporated) that is treated as a single employer together with the Company
under Section 414 of the Code. 

        "Event of Default" means a Lease Event of Default or an Indenture Event of Default. 

        "Event of Loss" means any of the following events: (i) destruction, damage beyond repair or rendition of the Property as a whole or
in material part permanently unfit for the Lessee's normal use for any reason whatsoever; or (ii) the condemnation, confiscation or seizure in whole or in a material part of the Property, or
requisition of title to, or use of, a material part of the Property rendering such portion of the Property permanently unfit for the Lessee's normal use; or (iii) the occurrence or discovery of
an environmental condition or violation the costs of remediation of which would reasonably be expected to equal or exceed $2,000,000. 

        "Excepted Payments" means: 

        (a)   all
indemnity payments (including indemnity payments made pursuant to Article XIII of the Participation Agreement) to which the Lessor, or any of its Affiliates,
agents, officers, directors or employees is entitled; 

        (b)   any
amounts (other than Basic Rent or amounts payable by Lessee pursuant to Section 15.1 of the Master Lease or Articles XVI, XVIII or XX of the Master Lease)
payable under any Operative Document to reimburse the Lessor or any of its Affiliates (including the reasonable expenses of the Lessor or such Affiliates incurred in connection with any such payment)
for performing or complying with any of the obligations of Lessee under and as permitted by any Operative Document; 

        (c)   any
insurance proceeds (or payments with respect to risks self-insured or policy deductibles) under liability policies; 

        (d)   any
insurance proceeds under policies maintained by the Lessor, other than the RVI Policy; 

        (e)   Transaction
Expenses or other amounts or expenses paid or payable to or for the benefit of the Lessor; 

        (f)    any
payments in respect of interest to the extent attributable to payments referred to in clauses (a) through (e) above; and 

        (g)   any
amount payable to the Lessor by any transferee of the interest of the Lessor in the Property as the purchase price therefor. 

        "Excepted Rights" means the following rights of the Lessor, which shall at all times be exercised by the Lessor to the exclusion of the
Indenture Trustee: (a) all rights to Excepted Payments, including the right to demand, collect or commence an action at law to obtain such payments and to enforce any judgment with respect
thereto and (b) all right, title and interest of the Lessor in the Shared Rights. 

        "Excess Casualty/Condemnation Proceeds" is defined in Section 14.2(g) of the Master Lease. 

        "Excess Sales Proceeds" means with respect to the Property the excess, if any, of (x) the aggregate of all proceeds received by the
Lessor in connection with any sale or reletting of the Property pursuant to the Lessor's exercise of remedies under Section 16.2 of the Master Lease or the Lessee's exercise of the Remarketing
Option with respect to the Property under Article XX of the Master Lease (in either case, less, to the extent not reimbursed by the Lessee, all fees, costs and expenses of the Lessor in
connection with the exercise of its rights and remedies thereunder or any such sale or reletting), minus (y) the Property Balance of the
Property. 

6

 

        "Exchange Act" means the Securities Exchange Act of 1934, as amended, and regulations promulgated thereunder. 

        "Expiration Date" means, with respect to the Master Lease, the earlier of (a) the date the Master Lease shall have been terminated
in accordance with the provisions thereof and (b) the tenth anniversary of the Documentation Date. 

        "Expiration Date Purchase Obligation" means the Lessee's obligation, pursuant to Section 18.2 of the Master Lease, to purchase the
Property on the Expiration Date. 

        "Fair Market Sales Value" means, with respect to the Property, the amount, which in any event shall not be less than zero, that would be
paid in cash in an arm's-length transaction between an informed and willing purchaser and an informed and willing seller, neither of whom is under any compulsion to purchase or sell, respectively, for
the ownership of the Property. The Fair Market Sales Value of the Property shall be determined based on the assumption that, except for purposes of Article XVI of the Master Lease and
Section 13.2 of the Participation Agreement, the Property is in the condition and state of repair required under Section 9.1 of the Master Lease and the Lessee is in compliance with the
other requirements of the Operative Documents relating to the condition of the Property. 

        "Fees" is defined in Section 4.4 of the Participation Agreement. 

        "F.R.S. Board" means the Board of Governors of the Federal Reserve System or any successor thereto. 

        "Funding Request" is defined in Section 3.4 of the Participation Agreement. 

        "GAAP" means accounting principles generally accepted in the United States from time to time set forth from time to time in the opinions
and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board (or
agencies with similar functions of comparable stature and authority within the U.S. accounting profession), which are applicable to the circumstances as of the date of determination. 

        "Governmental Action" means all permits, authorizations, registrations, consents, approvals, waivers, exceptions, variances, orders,
judgments, written interpretations, decrees, licenses, exemptions, publications, filings, notices to and declarations of or with, or required by, any Governmental Authority, or required by any
Applicable Law, and shall include, without limitation, all environmental and operating permits and licenses that are required for the full use, occupancy, zoning and operation of the Property. 

        "Governmental Authority" means the United States federal government, any state or other political subdivision thereof, any central bank
(or similar monetary or regulatory authority) thereof, any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, and any
corporation or other entity owned or controlled, through stock or capital ownership or otherwise, by any of the foregoing. 

        "Gross Remarketing Proceeds" is defined in Section 20.2(h) of the Master Lease. 

        "Guaranty" means the Lease Guaranty dated as of June 15, 2003, from the Lessee Guarantor in favor of the Lessor, the Purchasers and
the Indenture Trustee, substantially in the form of Exhibit H to the Participation Agreement. 

        "Hazardous Activity" means any activity, process, procedure or undertaking that directly or indirectly (i) produces, generates or
creates any Hazardous Material; (ii) causes or results in (or threatens to cause or result in) the Release of any Hazardous Material into the environment (including air, water vapor, surface
water, groundwater, drinking water, land (including surface or subsurface), plant, aquatic and animal life); (iii) involves the containment or storage of any Hazardous Material; or 

7

 

(iv) would
be regulated as hazardous waste treatment, storage or disposal within the meaning of any Environmental Law. 

        "Hazardous Materials" means any hazardous, toxic or dangerous materials, substances, chemicals, wastes or pollutants that from time to
time are defined by or pursuant to or are regulated under any Environmental Laws, including asbestos, polychlorinated biphenyls, petroleum, petroleum derivatives or
by-products, other hydrocarbons, urea formaldehyde and any material, substance, pollutant or waste that is defined as a hazardous waste under RCRA or defined as a hazardous substance under
CERCLA. 

        "Impositions" means any and all liabilities, losses, expenses and costs of any kind whatsoever for fees, taxes, levies, imposts, duties,
charges, assessments or withholdings of any nature whatsoever (all of the foregoing being defined as "Taxes") (including, without limitation,
(i) real and personal property taxes, including personal property taxes on any property covered by the Master Lease, and real estate or ad valorem taxes in the nature of property taxes;
(ii) sales taxes, use taxes and other similar taxes (including rent taxes and intangibles taxes); (iii) any excise taxes; (iv) real estate transfer taxes, conveyance taxes,
mortgage taxes, intangible taxes, stamp taxes and documentary recording taxes and fees; (v) taxes that are or are in the nature of franchise, income, value added, gross or net receipts,
privilege and doing business taxes, license and registration fees; (vi) assessments on the Property, including all assessments for public improvements or benefits (whether or not such
improvements are commenced or completed within the Lease Term; and (vii) all filing and reporting fees and expenses relating thereto, for the Property), and all interest, additions to tax and
penalties, which at any time may be levied, assessed or imposed by any foreign or U.S. federal, state or local authority upon or with respect to (a) any Tax Indemnitee, the Property or any part
thereof or interest therein, or the Lessee or any sublessee or user of the Property; (b) the financing, refinancing, demolition, construction, substitution, subleasing, assignment, control,
condition, occupancy, servicing, maintenance, repair, ownership, possession, purchase, rental, lease, activity conducted on, delivery, insuring, use, operation, improvement, transfer, return or other
disposition of the Property or any part thereof or interest therein; (c) the Notes, the Lessor Amounts or other indebtedness with respect to the Property or any part thereof or interest therein
or transfer thereof; (d) the rentals, receipts or earnings arising from the Property or any part thereof or interest therein; (e) the Operative Documents or any payment made or accrued
pursuant thereto; (f) the income or other proceeds received with respect to the Property or any part thereof or interest therein upon the sale or disposition thereof; (g) any contract
relating to the acquisition or delivery of the Improvements or any part thereof or interest therein; (h) the issuance of the Notes and payments thereon; or (i) otherwise in connection
with the transactions contemplated by the Operative Documents. 

        Notwithstanding
anything in the first paragraph of this definition (except as provided in the final paragraph of this definition) the term  "Imposition" shall not mean or include: 

        (i)    United
States federal income taxes; 

        (ii)   other
than Texas franchise taxes (which are addressed in clause (iii) below), foreign, U.S. state and local net income taxes (and other taxes calculated on the
basis of net income) that are imposed on such Tax Indemnitee by any taxing jurisdiction solely to the extent such Tax Indemnitee has a presence in such jurisdiction that allows such jurisdiction to
impose taxes of that type without regard to the transactions contemplated by the Operative Documents; 

        (iii)  Texas
franchise taxes, except for Texas franchise taxes imposed by reason of the transactions contemplated by the Operative Documents being characterized as something
other than a loan to the Lessee; 

        (iv)  any
Tax for so long as, but only for so long as, it is being contested in accordance with the provisions of Section 13.5(b) of the Participation Agreement,  provided that the foregoing shall 

8

 

not
limit any obligation under such Section to advance to the relevant Tax Indemnitee amounts with respect to Taxes that are being contested in accordance with such Section or any expenses reasonably
incurred by such Tax Indemnitee in connection with such contest; 

        (v)   Intentionally
omitted. 

        (vi)  Taxes
to the extent resulting from, or to the extent that such Taxes would not have been imposed but for, the gross negligence or willful misconduct of such Tax
Indemnitee or Affiliate thereof; 

        (vii) Taxes
to the extent imposed solely as a result of a material breach by the Tax Indemnitee or any Affiliate thereof of any representations, warranties or covenants set
forth in the Operative Documents (unless such breach is caused by the Lessee's breach of its representations, warranties or covenants set forth in the Operative Documents),  provided, however, as to
Section 12.3(a) and (b) of the Participation Agreement, the failure to provide such IRS form or information (as
applicable) in the manner described in such Section shall constitute such a material breach; 

        (viii) with
respect to any Property, Taxes which are included in the Property Balance, if and to the extent actually paid; 

        (ix)  Taxes
arising directly out of or resulting solely from, or to the extent that such Taxes would not have been imposed but for the existence of, any Lessor Lien
attributable to such Tax Indemnitee; or 

        (x)   with
respect to the Property, any Tax to the extent such Tax is attributable to any act, event or omission that occurs, or is attributable to a period beginning after
the return of the Property to the Lessor in accordance with the terms of the Lease (if the Lessee has paid all amounts owed under the Operative Documents), unless a Lease Event of Default has occurred
and is continuing, provided, that there shall not be excluded from the definition of the term "Impositions" any Taxes to the extent such Taxes are attributable to events or circumstances occurring, or
matters arising, prior to or ending with the Expiration Date. 

        Notwithstanding
the foregoing, the exclusions from the definition of Impositions set forth in clauses (vii) (except to the extent relating to the reference to
Section 12.3(a) and (b)) and (ix) above, shall not apply to any aggregate increase in Taxes imposed on or paid by, directly or indirectly, a Tax Indemnitee or an entity directly or
indirectly owned by a Tax Indemnitee (net of any decrease in Taxes actually realized by such Tax Indemnitee or entity as a direct result of its payment of such Taxes), to the extent that such Tax
increase would not have occurred if on each Acquisition Date the Lessor and the Purchasers had advanced funds to the Lessee in the form of a loan or a loan secured by the Property in an amount equal
to the Advance funded on such Acquisition Date, with interest for such loans equal to the Basic Rent payable on each Scheduled Payment Date on a principal balance at the maturity of such loans in an
amount equal to the then outstanding amount of the Advances at the end of the term of the Master Lease. 

        "Improvements" means all buildings, structures, fixtures, Equipment and other improvements of every kind existing at any time and from
time to time (including those purchased with amounts advanced by the Participants pursuant to the Participation Agreement) on or under any parcel of Land to be acquired pursuant to the terms of the
Operative Documents, together with any and all appurtenances to such buildings, structures or improvements, including sidewalks, utility pipes, conduits and lines, parking areas and roadways, and
including all Modifications and other additions to or changes in the Improvements at any time. 

        "Indebtedness" means, without duplication, with respect to the Lessee and each Subsidiary of the Lessee, such Person's
(i) obligations for borrowed money, (ii) obligations representing the deferred purchase price of any of its property or services (other than accounts payable arising in the ordinary 

9

 

course
of such Person's business payable on terms customary in the trade), (iii) obligations, whether or not assumed, secured by Liens or payable out of the proceeds or production from any
property now or hereafter owned or acquired by such Person, (iv) obligations which are evidenced by notes, acceptances, or other instruments, (v) obligations under capitalized leases
which would be shown as a liability on a balance sheet of such Person, (vi) net liabilities under any agreement, device or arrangement designed to protect at least one of the parties thereto
from the fluctuation of interest rates, exchange rates or forward rates applicable to such party's assets, liabilities or exchange transactions (including any cancellation, buy back, reversal,
termination or assignment thereof), (vii) derivative interests as defined in FAS 133 of the Financial Accounting Standards Board and (viii) Indebtedness of another Person for
which such Person is obligated pursuant to a guaranty. 

        "Indemnitee" means each Participant, the Indenture Trustee, the Arranger and the RVI Provider. 

        "Indemnity Agreement" means the Indemnity Agreement dated as of June 15, 2003 from the Lessor Parent in favor of the Indenture
Trustee, for the benefit of the Purchasers, substantially in the form of Exhibit I to the Participation Agreement. 

        "Indenture" means the Indenture, dated as of June 15, 2003, between the Lessor and the Indenture Trustee, substantially in the form
of Exhibit D to the Participation Agreement. 

        "Indenture Default" means any event, act or condition that with notice or lapse of time, or both, would constitute an Indenture Event of
Default. 

        "Indenture Event of Default" is defined in Section 7.1 of the Indenture. 

        "Indenture Estate" shall have the meaning set forth in the Granting Clause of the Indenture. 

        "Indenture Trustee" means Wilmington Trust Company, a Delaware banking corporation, in its capacity as Indenture Trustee pursuant to the
Indenture. 

        "Institutional Investor" means (a) any original purchaser of a Note, (b) any holder of a Note holding more than $2,000,000
of the aggregate principal amount of the Notes then outstanding and (c) any bank, trust company, savings and loan association or other financial institution, any pension plan, any investment
company, any insurance company, any broker or dealer, or any other similar financial institution or entity, regardless of legal form. 

        "Insurance Requirements" means the terms and conditions of any insurance policy, and the requirements of the issuer of any such policy,
which insurance policy is required to be maintained by the Lessee under the Master Lease in each case where the failure to comply with such terms, conditions and/or requirements would under applicable
law or the terms of such insurance policy constitute a valid defense to the insurer against payment of insurance proceeds thereunder. 

        "Land" means the individual fee interest or leasehold interest, as the case may be, in real property described on Schedule I to the
Lease Supplement, and includes all Appurtenant Rights attached thereto. 

        "Lease" means, collectively, the Master Lease and the Lease Supplement. 

        "Lease Balance" means, as of any date of determination, an amount equal to the sum of the Note Balance and the Lessor Balance and all
other amounts owing by the Lessee under the Operative
Documents (including without limitation, accrued and unpaid Basic Rent and Supplemental Rent, if any). 

        "Lease Default" means any event or condition that, with the lapse of time or the giving of notice, or both, would constitute a Lease Event
of Default. 

        "Lease Event of Default" is defined in Section 16.1 of the Master Lease. 

10

 

        "Lease Rents" is defined in Section 2(a)(i) of the Assignment of Lease and Rent. 

        "Lease Supplement" means Lease Supplement No. 1, substantially in the form set forth in Exhibit A to the Master Lease,
executed by the Lessee, the Lessor, dated the Acquisition Date and covering the Property described therein as the same may be amended, supplemented, amended and restated or otherwise modified from
time to time. 

        "Lease Term" is defined in Section 2.3 of the Master Lease. 

        "Lessee" means Sabre Inc., a Delaware corporation. 

        "Lessee Guarantor" means Sabre Holdings Corporation, a Delaware corporation. 

        "Lessor" means CSL Leasing Inc., a Delaware corporation. 

        "Lessor A Portion" is defined in Section 7.4 of the Participation Agreement. 

        "Lessor Amount" is defined in Section 3.2 of the Participation Agreement. 

        "Lessor B Portion" is defined in Section 7.4 of the Participation Agreement. 

        "Lessor Balance" means, as of any date of determination, an amount equal to the sum of the outstanding Lessor Amounts together with all
accrued and unpaid Yield thereon, the Make-Whole Amount, if any, and all other amounts owing to the Lessor under the Operative Documents. 

        "Lessor Basic Rent" means the amount of accrued and unpaid Yield due on the Lessor Amounts, determined in accordance with
Section 4.1 of the Participation Agreement as of any Scheduled Payment Date and excluding (i) any interest at the applicable Overdue Rate on any installment of Lessor Basic Rent not paid
when due and (ii) any fine, penalty, interest or cost assessed or added under any agreement with a third party for nonpayment or late payment of Lessor Basic Rent. 

        "Lessor Commitment" means the Commitment of the Lessor in the amount set forth on Schedule I of the Participation Agreement, as
such Schedule may be amended, supplemented, amended and restated, reduced or otherwise modified from time to time. 

        "Lessor Financing Statements" means UCC financing statements appropriately completed and executed for filing in the applicable
jurisdiction in order to protect the Lessor's and the Indenture Trustee's respective interests under the Master Lease and each Lease Supplement to the extent the Master Lease and the Lease Supplements
are security agreements. 

        "Lessor Lien" means any Lien arising as a result of (a) any claim against any Participant not resulting from the transactions
contemplated by the Operative Documents, (b) any act or omission of any Participant that is not required or permitted by the Operative Documents or is in violation of any of the terms of the
Operative Documents or (c) any claim against any Participant with respect to Taxes or Transaction Expenses against which the Lessee is not required to indemnify such Participant pursuant to
Article XIII of the Participation Agreement. 

        "Lessor Mortgage" means the Lease Supplement for the Property and any and all other security instruments in appropriate recordable form in
the relevant jurisdiction sufficient to grant to the Lessor a first priority Lien on the Property. 

        "Lessor Parent" means JPMorgan Chase Bank, a New York banking corporation, and any successor thereto. 

        "Lien" means any interest in property securing an obligation owed to, or a claim by, a Person other than the owner of such property,
whether such interest is based on common law, statute or contract, and including but not limited to the security interest lien arising from a mortgage, encumbrance, pledge, conditional sale or trust
receipt or a lease, consignment or bailment for security purposes. The term "Lien" shall include reservations, exceptions, encroachments, easements, 

11

 

rights-of-way,
covenants, conditions, restrictions, leases and other title exceptions and encumbrances (including, with respect to stock, stockholder agreements, voting trust
agreements, buy-back agreements and all similar arrangements) affecting property. 

        "Make-Whole Amount" means, with respect to any Note or Lessor Amount, an amount equal to the excess, if any, of the Discounted
Value of the Remaining Scheduled Payments with respect to the Called Principal of such Note or Lessor Amount over the amount of such Called Principal,  provided that the Make-Whole Amount may in no event
be less than zero. 

        "Marketing Period" means the period commencing on the date 365 days prior to the Expiration Date and ending on the Expiration Date. 

        "Master Lease" means the Master Lease and Deed of Trust, dated as of June 15, 2003, between the Lessor and the Lessee,
substantially in the form of Exhibit C to the Participation Agreement. 

        "Material" and "Materially" mean material to (i) the ability of the Lessee or the
Lessee Guarantor to perform its obligations under the Operative Documents, (ii) the value, condition, utility or useful life of the Property or (iii) the business, financial condition or
results of operations of the Lessee Guarantor. 

        "Material Adverse Effect" means a material adverse effect on (a) the business, property, condition (financial or otherwise) or
results of operations of the Lessee Guarantor, (b) the rights and remedies of the Lessor, the Indenture Trustee or any Purchaser under the Operative Documents, (c) the ability of the
Lessee or the Lessee Guarantor to perform its obligations under the Operative Documents or (d) the value, utility, condition or useful life of the Property. 

        "Maturity Date" means, with respect to the Notes and the Lessor Amounts, the tenth (10th) anniversary of the Documentation Date. 

        "Maximum Recourse Amount" means, with respect to the Property, the Property Cost of the Property multiplied by the percentage set forth in
the Lease Supplement. 

        "Modifications" is defined in Section 10.1 of the Master Lease. 

        "Moody's" means Moody's Investors Services, Inc. 

        "Mortgage Foreclosure Act" is defined in Section 16.4 of the Master Lease. 

        "Multiemployer Plan" means a Plan maintained pursuant to a collective bargaining agreement or any other arrangement to which the Lessee,
the Lessee Guarantor or other member of the Controlled Group is a party and to which more than one employer is obligated to make contributions. 

        "Net Proceeds" means the aggregate of all awards, compensation, insurance proceeds or other amounts received by the Indenture Trustee, the
Lessor or any Purchaser in connection with any Casualty or Condemnation of the Property and all interest earned thereon, less, to the extent not previously reimbursed by the Lessee, the expense of
claiming and collecting such amounts, including all costs and expenses in connection therewith for which the Lessor, the Indenture Trustee or any Purchaser is entitled to be reimbursed pursuant to the
Lease. 

        "Net Proceeds of Equity Issuances" means, with respect to any period, cash proceeds (net of all costs and
out-of-pocket expenses in connection therewith, including, without limitation, placement, underwriting and brokerage fees and expenses), received by the Lessee Guarantor and
its Subsidiaries during such period, from the sale of all common stock of the Lessee Guarantor, including in such net proceeds the net amount paid upon issuance and exercise during such period of any
right to acquire any common stock, or paid during such period to convert a convertible debt security to common stock (but excluding any amount paid to the Lessee upon issuance of such convertible debt
security). 

        "Non-U.S. Transferee" is defined in Section 12.3(a) of the Participation Agreement. 

12

 

        "Note Balance" means, as of any date of determination, an amount equal to the outstanding principal amount of the Notes, the
Make-Whole Amount, if any, all accrued and unpaid interest thereon and all other amounts due and payable to the Purchasers under the Operative Documents. 

        "Note Commitment" means, with respect to each Purchaser, the aggregate Commitment of such Purchaser in the amount set forth on
Schedule I to the Participation Agreement, as such Schedule may be amended, supplemented, amended and restated or otherwise modified from time to time. 

        "Notes" means Series A Notes and Series B Notes, collectively, and "Note"
means any of them. 

        "Obligations" means all obligations (monetary or otherwise) of the Lessee arising under or in connection with any of the Operative
Documents. 

        "Operative Documents" means the following: 

	(a)
	the
Participation Agreement;

	(b)
	the
Master Lease;

	(c)
	each
Lease Supplement;

	(d)
	the
Guaranty;

	(e)
	the
Indenture;

	(f)
	each
Note;

	(g)
	the
Assignment of Lease and Rent;

	(h)
	each
Deed and each Bill of Sale;

	(i)
	the
Lessor Mortgages;

	(j)
	the
Lessor Financing Statements;

	(k)
	the
RVI Policy;

	(l)
	the
Indemnity Agreement; and

	(m)
	the
Deed of Trust. 

        "Original Executed Counterpart" is defined in Section 26.9 of the Master Lease. 

        "Outstanding," when used with respect to the Notes, means, as of the date of determination, all such Notes theretofore issued,
authenticated and delivered under the Indenture, except (a) the Notes theretofore canceled by the Indenture Trustee or delivered to the Indenture Trustee for cancellation and paid in full and
(b) the Notes in exchange for, or in lieu of, which other Notes have been issued, authenticated and delivered pursuant to the Indenture; provided, however, that any Note owned by the Lessee,
the Lessor or any Affiliate thereof shall be disregarded and deemed not to be Outstanding for the purpose of any instruction, consent, waiver or action by holders of the Notes (unless such Person owns
all of the Notes), but not for any other purpose. 

        "Overdue Rate" means, with respect to any Note or Lessor Amount, the rate per annum from time to time equal to the greater of
(i) 7.37% and (ii) 2.00% over the rate of interest publicly announced by JPMorgan Chase Bank from time to time in New York, New York as its "base" or "prime" rate. 

        "Partial Purchase Option" is defined in Section 18.2 of the Master Lease. 

        "Partial Purchase Option Price" is defined in Section 18.2 of the Master Lease. 

13

 

        "Participant Balance" means as of any date of determination: (i) with respect to any Purchaser, an amount equal to the Note Balance
of such Purchaser or (ii) with respect to the Lessor, an amount equal to the Lessor Balance. 

        "Participants" means, collectively, each Purchaser and the Lessor, and their successors and permitted assigns. 

        "Participation Agreement" means the Participation Agreement, dated as of June 15, 2003, among the Lessee, the Lessor, the
Purchasers and the Indenture Trustee. 

        "Patriot Act" means Public Law 107-56 of the United States of America, United and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT Act) Act of 2001. 

        "PBGC" means the Pension Benefit Guaranty Corporation or any entity succeeding to any or all of its functions under ERISA. 

        "Permitted Investments" means (i) direct obligations of the United States and agencies thereof for which the full faith and credit
of the United States is pledged, including any money market fund registered under the Investment Company Act of 1940, as amended, the portfolio of which is limited to United States government
obligations and United States agency obligations, (ii) obligations fully guaranteed by the United States, (iii) certificates of deposit issued by, or bankers' acceptances of, or time
deposits with, any bank, trust company or national banking association (in each case excluding, the Lessor and its Affiliates) incorporated or doing business under the laws of the United States or one
of the states thereof having combined capital and surplus and retained earnings of at least $1,000,000,000 and having a rating assigned to the long-term unsecured debt of such institutions
by S&P and Moody's at least equal to AA and AA2, respectively, and (iv) commercial paper of companies, banks, trust companies or national banking associations (in each case excluding the Lessor
and its Affiliates) incorporated or doing business under the laws of the United States or one of the States thereof and in each case having a rating assigned to such commercial paper by S&P or Moody's
(or, if neither such organization shall rate such commercial paper at any time, by any nationally recognized rating organization in the United States) equal to the highest rating assigned by such
organization; provided that if all of the above investments are unavailable, the entire amount to be invested may be used to purchase federal funds from
an entity described in clause (iii) above; provided, further, that no
investment shall be eligible as a "Permitted Investment" unless the final maturity or date of return of such investment is thirty (30) days or
less in the case of certificates of deposit and ninety (90) days or less in the case of all other such Permitted Investments from the date of purchase thereof. 

        "Permitted Property Liens" means, with respect to the Property, any of the following: 

        (i)    the
respective rights and interests of the parties to the Operative Documents as provided in the Operative Documents (including any Lien created pursuant to the
Operative Documents); 

        (ii)   the
rights of any sublessee under a sublease permitted by the terms of the Master Lease; 

        (iii)  Liens
for Taxes that either are not yet due or are being contested in accordance with the provisions of Section 12.1 of the Master Lease; 

        (iv)  Liens
arising by operation of law, materialmen's, mechanics', workers', repairmen's, employees', carriers', warehousemen's and other like Liens or in connection with
any Modifications or arising in the ordinary course of business for amounts that either are not more than sixty (60) days past due or are being diligently contested in good faith by appropriate
proceedings, so long as such proceedings satisfy the conditions for the contest proceedings set forth in Section 12.1 of the Master Lease; 

14

 

        (v)   Liens
of any of the types referred to in clause (iii) or (iv) above that have been bonded for not less than the full amount in dispute (or as to which
other security arrangements satisfactory to the Required Participants have been made), which bonding (or arrangements) shall comply with applicable Requirements of Law, and has effectively stayed any
execution or enforcement of such Liens; 

        (vi)  Liens
arising out of judgments or awards with respect to which appeals or other proceedings for review are being prosecuted in good faith and for the payment of which
adequate reserves have been provided as required by GAAP or other appropriate provisions have been made, so long as such proceedings have the effect of staying the execution of such judgments or
awards and satisfy the conditions for contest proceedings set forth in Section 12.1 of the Master Lease; 

        (vii) easements,
licenses, rights-of-way and other encumbrances on title to real property permitted pursuant to Section 11.2 of the Master
Lease; 

        (viii) Lessor
Liens; 

        (ix)  Liens
created by the Lessee with the consent of the Required Participants and the RVI Provider or otherwise permitted by the Operative Documents; and 

        (x)   Liens
described on the title insurance policy delivered with respect to the Property pursuant to Section 6.1(p) of the Participation Agreement, other than Liens
described in clause (iv) or (vi) above. 

        "Permitted Sales Costs" means, with respect to the Property, all reasonable costs of sale of the Property incurred by the Lessee pursuant
to Section 20.2 of the Master Lease which costs are of a type customarily paid by sellers of properties comparable to the Property in the market where the Property is being sold;  provided, however,
that any such costs that, in the aggregate with all other Permitted Sales Costs then incurred with respect to the Property, exceed
1.0% of the Gross Remarketing Proceeds for the Property, shall not constitute "Permitted Sales Costs" for purposes of the Operative Documents unless
such costs shall have been approved in writing by the Required Participants and the RVI Provider prior to the incurrence thereof; and, provided,
further, that "Permitted Sales Costs" shall not include any costs of repairs, alterations or modifications (including Required
Modifications) desired by the purchaser of the Property or required to cause the Property to comply with the requirements of the Master Lease. 

        "Person" means an individual, partnership, limited liability company, corporation, trust or unincorporated organization, and a government
or agency or political subdivision thereof. 

        "Plan" means an employee pension benefit plan which is covered by Title IV of ERISA or subject to the minimum funding standards under
Section 412 of the Code as to which the Lessee or any other member of the Controlled Group may have any liability. 

        "Plans and Specifications" means, with respect to the Property, the final plans and specifications or detailed construction drawings for
the Property. 

        "Property" means (i) the Lessor's fee simple interest in the Land (ii) all of the Improvements at any time located on or
under the Land and (iii) the Equipment at any time located on or under the Land, provided, that if the Lessee purchases any portion of the
Property pursuant to its exercise of the Partial Purchase Option, the term "Property" shall exclude such portion of the Property so purchased. 

        "Property Balance" means an amount equal to the outstanding principal or analogous amount of the Notes and Lessor Amounts,  plus all accrued and unpaid interest and
Yield thereon and the Make-Whole Amount, if any,  plus any Supplemental Rent, plus any other amounts due and owing to the Participants and the Indenture
Trustee with respect to the Property. 

15

 

        "Property Cost" means the amount of the Advance made under the Participation Agreement with respect to the acquisition of the Property. 

        "Purchase Notice" means an irrevocable written notice by the Lessee delivered to the Lessor pursuant to Section 18.1 of the Master
Lease, notifying the Lessor of the Lessee's intention to exercise the Purchase Option or Partial Purchase Option, as the case may be, pursuant to such Section, and identifying the proposed purchase
date therefor. 

        "Purchase Option" means the Lessee's option to purchase the Property in accordance with the provisions of Section 18.1(a) of the
Master Lease. 

        "Purchase Option Price" is defined in Section 18.1(a) of the Master Lease. 

        "Purchaser Basic Rent" means, as determined as of any Scheduled Payment Date, interest due on the Notes, determined in accordance with
Section 2.1(b) and 2.2(b) of the Indenture and excluding (i) any interest at the applicable Overdue Rate on any installment of Purchaser Basic Rent not paid when due, and (ii) any
fine, penalty, interest or cost assessed or added under any agreement with a third party for nonpayment or late payment of Purchaser Basic Rent. 

        "Purchaser Commitment" means the Commitment of each Purchaser in the amount set forth on Schedule I of the Participation Agreement. 

        "Purchasers" means, collectively, the institutional investors listed as Purchasers on Schedule II to the Participation Agreement
and each other holder from time to time of a Note. 

        "QPAM Exemption" means Prohibited Transaction Class Exemption 84-14 issued by the United States Department of Labor. 

        "RCRA" means the Resource Conservation and Recovery Act of 1976, as amended by the Solid and Hazardous Waste Amendments of 1984, 42 U.S.C.
§6901 et seq. 

        "Recourse Obligations" is defined in Section 2 of the Indemnity Agreement. 

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

        "Reinvestment Yield" means, with respect to the Called Principal of any Note or Lessor Amount, 0.50% over the yield to maturity implied by
(i) the yields reported, as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated
as "Page PX1" on the Bloomberg Financial Services Screen (or such other display as may replace Page PX1 on the Bloomberg Financial Services Screen) for "on the run" U.S. Treasury securities having a
maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date or (b) if such yields are not reported as of such time or the yields reported as of such time
are not ascertainable, the Treasury Constant Maturity Series Yields reported, for the latest day for which such yields have been so reported as of the second Business Day preceding the Settlement Date
with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (519) (or any comparable successor publication) for "on the run" U.S. Treasury securities having a constant
maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date. Such implied yield will be determined, if necessary, by (a) converting U.S. Treasury bill
quotations to bond-equivalent yields in accordance with accepted financial practice and (b) interpolating linearly between (i) the "on the run" U.S. Treasury security with
the maturity closest to and greater than the Remaining Average Life and (ii) the "on the run" U.S. Treasury security with the maturity closest to and less than the Remaining Average Life. The
Reinvestment Yield shall be rounded to that number of decimal places as appears in the coupon of the Notes. 

        "Release" means any release, pumping, pouring, emptying, injecting, escaping, leaching, dumping, seepage, spill, leak, flow, discharge,
disposal or emission of a Hazardous Material. 

16

 

        "Remaining Average Life" means, with respect to any Called Principal, the number of years (calculated to the nearest
one-twelfth year) obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each
Remaining Scheduled Payment with respect to such Called Principal by (b) the number of years (calculated to the nearest one-twelfth year) that will elapse between the Settlement
Date with respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment. 

        "Remaining Scheduled Payments" means, with respect to the Called Principal of any Note or Lessor Amount, all payments of such Called
Principal and interest or Yield thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due
date, provided that if such Settlement Date is not a date on which interest or Yield payments are due to be made on the Notes or Lessor Amounts, as
applicable, then the amount of the next succeeding scheduled interest or Yield payment will be reduced by the amount of interest or Yield accrued to such Settlement Date and required to be paid on
such Settlement Date pursuant to any Operative Document. 

        "Remarketing Option" is defined in Section 20.1 of the Master Lease. 

        "Rent" means, collectively, the Basic Rent and the Supplemental Rent. 

        "Rents" is defined in Section 2(b) of the Assignment of Lease and Rent. 

        "Reportable Event" means a reportable event as defined in Section 4043 of ERISA and the regulations issued under such section with
respect to a Plan, excluding, however, such events as to which the PBGC by regulation waived the requirement of Section 4043(a) of ERISA that it be notified within thirty (30) days of
the occurrence of such event. 

        "Requesting Party" is defined in Section 22.1 of the Master Lease. 

        "Required Modification" is defined in Section 10.1(a) of the Master Lease. 

        "Required Participants" means, at any time, Purchasers and the Lessor, taken as a group, holding more than 50% of the aggregate principal
amount of the Notes Outstanding and Lessor Amounts then outstanding. 

        "Required Purchasers" means, at any time, Purchasers holding more than 50% of the aggregate outstanding principal amount of the Notes
(exclusive of Notes then owned by the Lessee or any of its Affiliates). 

        "Required Series B Participants" means, at any time, Purchasers and the Lessor, taken as a group, holding more than 50% of the
aggregate principal amount of the Series B Notes Outstanding and the Lessor B Portion then outstanding. 

        "Requirement of Law" means, as to any Person, (a) the partnership agreement, certificate of incorporation, bylaws, operating
agreement or other organizational or governing documents of such Person and (b) all Applicable Laws. 

        "Responsible Officer" means (a) as to the Lessee, any Authorized Officer, and (b) as to any other Person, the chief
executive officer, the president, any vice president, the secretary, any assistant secretary or the treasurer of such Person. 

        "Responsible Officer's Certificate" means a certificate signed by any Responsible Officer, which certificate shall certify as true and
correct the subject matter being certified to in such certificate. 

        "Return Conditions" is defined in Section 20.1 of the Master Lease. 

        "RVI Policy" means the Residual Value Insurance Policy, effective as of June 15, 2003, among the RVI Provider, the Indenture
Trustee, the Lessee and the Lessor. 

17

 

        "RVI Provider" means Ace Capital Re International Ltd. 

        "S&P" means Standard & Poor's. 

        "Scheduled Payment Date" means the 26th day of each June and December in each year, or if such day is not a Business Day,
the next succeeding Business Day. 

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

        "Securities Act" means the Securities Act of 1933, as amended from time to time. 

        "Security Documents" means the Indenture, the Deed of Trust, the Assignment of Lease and Rent, the Guaranty and the Notes. 

        "Senior Financial Officer" means the chief financial officer, principal accounting officer, treasurer or comptroller of the Lessee
Guarantor. 

        "Series A Notes" means promissory notes of the Lessor substantially in the form of Exhibit A to the Indenture with respect
to the amounts of each Purchaser's Commitment allocated to Series A Notes. 

        "Series B Notes" means promissory notes of the Lessor substantially in the form of Exhibit B to the Indenture with respect
to the amounts of each Purchaser's Commitment allocated to Series B Notes. 

        "Settlement Date" means, with respect to the Called Principal of any Note or Lessor Amount, the date on which such Called Principal is to
be prepaid pursuant to any Operative Document or has become or is declared to be immediately due and payable pursuant to any Operative Document, as the context requires. 

        "Shared Rights" means the following rights retained by the Lessor, but not to the exclusion of the Indenture Trustee: 

        (a)   the
rights of the Lessor described in subclause (iii) of Section 2(a) of the Assignment of Lease and Rent; 

        (b)   the
right to inspect the Property and otherwise exercise rights of the Lessor under Section 10.1(h) of the Participation Agreement; 

        (c)   the
right to provide such insurance as the Lessee shall have failed to maintain; and 

        (d)   the
right to perform for the Lessee under Section 17.1 of the Lease. 

        "Shortfall Amount" means, as of the Expiration Date, an amount equal to (i) the Lease Balance,  minus (ii) the Maximum Recourse Amount minus (iii) the aggregate amount of the highest,
binding, written, unconditional, irrevocable cash offer to purchase the Property obtained by the Lessee pursuant to
Section 20.2(c) of the Master Lease; provided, however, that if the sale of the Property to the Person or Persons submitting such offer or offers
is not consummated on or prior to the Expiration Date, then the term "Shortfall Amount" means an amount equal to (i) the Lease Balance,  minus
(ii) the Maximum Recourse Amount. 

        "Single Employer Plan" means a Plan maintained by the Lessee, the Lessee Guarantor or any member of the Controlled Group for employees of
the Lessee, the Lessee Guarantor or any member of the Controlled Group. 

        "Solana Parcel" means the parcel of the Property legally described as such in Schedule I to the Lease Supplement. 

        "Solvent" means with respect to any Person on a particular date, that on such date (i) the fair value of the property of such
Person is greater than the total amount of liabilities, including, without 

18

 

limitation,
contingent liabilities of such Person, (ii) the present fair saleable 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, (iii) such Person is able to realize upon its assets and pay its debts and other liabilities, contingent obligations
and other commitments as they mature in the normal course of business, (iv) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person's
ability to pay as such debts and liabilities mature, and (v) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such
Person's property would constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which such Person is engaged. In computing the amount of
contingent liabilities at any time, it is intended that such liabilities will be computed at the amount which, in light of all the facts and circumstances existing at such time, represents the amount
that can reasonably be expected to become an actual or matured liability taking into account any subrogation and contribution rights. 

        "Structuring Fee" is defined in Section 4.4(a) of the Participation Agreement. 

        "Subject Improvements" is defined in each Lease Supplement. 

        "Subject Land" is defined in each Lease Supplement. 

        "Subject Obligations" is defined in Section 2(c) of the Lease Supplement. 

        "Subject Property" is defined in the Lease Supplement and, as used in the Participation Agreement, means the Property being acquired by
the Lessor on the Acquisition Date. 

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

        "Supplemental Rent" means all amounts, liabilities and obligations (other than Basic Rent) that the Lessee assumes or agrees to pay to the
Indenture Trustee, any Participant or any other Person under the Master Lease, or under any of the other Operative Documents, including, without limitation, Fees, Make-Whole Amount,
Maximum Recourse Amounts, Shortfall Amounts, Transaction Expenses, amounts due pursuant to Article XIII of the Participation Agreement and payments pursuant to Sections 15.2 of the Master Lease
and Articles XVIII and XX of the Master Lease. 

        "Tax Indemnitee" means each Participant, the Indenture Trustee and the Arranger. 

        "Taxes" is defined in the definition of Impositions. 

        "Transaction Expenses" means all costs and expenses incurred in connection with the preparation, execution and delivery of the Operative
Documents and the transactions contemplated by the Operative Documents including without limitation: 

        (a)   (i) the
reasonable fees, out-of-pocket expenses and disbursements of Schiff Hardin & Waite, special counsel for the Purchasers, and
Baker Botts L.L.P., special Texas counsel to the Purchasers, in preparing and negotiating the terms of the Operative Documents and the other transaction documents, preparing for the closing under, and
rendering opinions in connection with, the transactions contemplated thereby and in rendering other services customary for counsel representing parties to transactions of the types involved in the
transactions contemplated by the Operative Documents and (ii) the reasonable fees, out-of-pocket expenses and disbursements of local counsel for the Purchasers in each
applicable jurisdiction in negotiating the terms of the Operative Documents and the other transaction documents, preparing for the closings under, and rendering opinions in connection with, the
transactions contemplated to occur on the Acquisition Date and the Documentation Date and in rendering other services in connection with the 

19

 

transactions
contemplated by the Operative Documents which are customary for counsel representing parties to transactions of the types involved in the transactions contemplated by the Operative
Documents; 

        (b)   the
reasonable fees, out-of-pocket expenses and disbursements of Simpson Thacher & Bartlett LLP, special counsel for the Lessor, in
preparing and negotiating the terms of the Operative Documents and the other transaction documents, preparing for the closing under, and rendering opinions in connection with, the transactions
contemplated to occur on the Acquisition Date and the Documentation Date and in rendering other services customary for counsel representing parties to transactions of the types involved in the
transactions contemplated by the Operative Documents; 

        (c)   (i) the
reasonable fees, out-of-pocket expenses and disbursements of Gibson, Dunn & Crutcher LLP and Gardere Wynne Sewell LLP,
special counsel for the Lessee and the Lessee Guarantor, in negotiating the terms of the Operative Documents and the other transaction documents, preparing for the closings under, and rendering
opinions in connection with, the transactions contemplated thereby and in rendering other services in connection with the transactions contemplated thereby customary for counsel representing parties
to transactions of the types involved in the transactions contemplated by the Operative Documents, and the reasonable fees, out-of-pocket expenses and disbursements of special
counsel for the Lessee and the Lessee Guarantor in connection with the transactions contemplated to occur on the Acquisition Date; and (ii) the reasonable fees,
out-of-pocket expenses and disbursements of special Texas counsel for the Lessee in negotiating the terms of the Operative Documents and the other transaction documents,
preparing for the closings under, and rendering opinions in connection with, the transactions contemplated to occur on the Acquisition Date and the Documentation Date and in rendering other services
in connection with the transactions contemplated by the Operative Documents which are customary for counsel representing parties to transactions of the types involved in the transactions contemplated
by the Operative Documents; 

        (d)   any
and all Taxes and fees incurred in recording, registering or filing any Operative Document or any other transaction document, any deed, declaration, mortgage,
security agreement, notice or
financing statement with any public office, registry or governmental agency required by the Operative Documents in connection with the transactions contemplated by the Operative Documents; 

        (e)   all
reasonable out-of-pocket expenses, disbursements and costs of the Indenture Trustee, the Arranger, the Purchasers and the Lessor in
connection with the transactions contemplated by the Operative Documents (including without limitation the transactions contemplated to occur on the Acquisition Date); 

        (f)    all
title fees, premiums and escrow costs and other expenses relating to title insurance and the closing contemplated by the Operative Documents; 

        (g)   all
expenses relating to Environmental Audits required to be delivered pursuant to Section 6.1(h) of the Participation Agreement; 

        (h)   all
fees and other expenses relating to Appraisals required to be delivered pursuant to Section 6.1(d) of the Participation Agreement; 

        (i)    all
fees and other expenses relating to the RVI Policy, including, without limitation, the premium therefore and the costs and expenses of the RVI Provider in issuing
the RVI Policy; 

        (j)    the
Fees payable by the Lessee pursuant to Section 4.4 of the Participation Agreement; 

20

 

        (k)   the
reasonable fees, out-of-pocket expenses and disbursements of the respective special counsel for the Lessor, the Indenture Trustee and the
Purchasers in connection with the matters described in Section 9.1(b) of the Participation Agreement; and 

        (l)    the
reasonable fees, out-of-pocket expenses and disbursements of special counsel for the Lessor in connection with issuing a reliance letter
pursuant to Section 12.1 of the Participation Agreement. 

        "Transactions" means the transactions contemplated under the Participation Agreement and each of the other Operative Documents. 

        "Trustee Fee Letter" means the fee letter between Wilmington Trust and the Lessee setting forth the amount of fees and expenses payable to
Wilmington Trust in connection with services rendered as Indenture Trustee. 

        "Undeveloped Parcel" means the parcel of the Property legally described as such in Schedule I to the Lease Supplement. 

        "Unfunded Vested Liabilities" means the amount (if any) by which the present value of all currently accrued, vested and nonforfeitable
benefits under all Single Employer Plans exceeds the fair market value of all assets of such Plan allocable to such benefits, all determined on an ongoing Plan basis as set forth in the then most
recent actuarial valuation for each such Plan. 

        "Uniform Commercial Code" and "UCC" means the Uniform Commercial Code as in effect in any
applicable jurisdiction. 

        "United States" means the United States of America. 

        "U.S. Transferee" is defined in Section 12.3(b) of the Participation Agreement. 

        "Wilmington Trust" means Wilmington Trust Company, a Delaware banking corporation, in its individual capacity. 

        "Yield" is defined in Section 4.1(a) of the Participation Agreement. 

        "Yield Rate" means 5.37% per annum. 

21

 
 

SCHEDULE I
  TO PARTICIPATION AGREEMENT    
    

COMMITMENTS  

	PARTICIPANT
	 	COMMITMENT
	 	COMMITMENT

PERCENTAGE
	 
	PURCHASERS	 	 	 	 	 
	

The Prudential Insurance

Company of America	
 	

Series A $33,375,000	
 	

18.656	
%
	

The Prudential Insurance

Company of America	
 	

Series A $14,088,700	
 	

7.875	
%
	

Baystate Investments LLC	
 	

Series A $11,868,150	
 	

6.634	
%
	

RGA Reinsurance Company	
 	

Series A $7,418,150	
 	

4.147	
%
	

John Hancock Life Insurance Company	
 	

Series A $21,226,500	
 	

11.865	
%
	

John Hancock Variable Life

Insurance Company	
 	

Series A $16,687,500	
 	

9.328	
%
	

Investors Partner Life

Insurance Company	
 	

Series A $445,000	
 	

0.249	
%
	

Signature 6 Limited	
 	

Series A $1,780,000	
 	

0.995	
%
	

Goldman Sachs International	
 	

Series A $3,560,000	
 	

1.990	
%
	

The Travelers Insurance Company	
 	

Series A $9,523,000	
 	

5.323	
%
	

The Travelers Insurance Company	
 	

Series A $4,005,000	
 	

2.239	
%
	

The Travelers Insurance Company	
 	

Series A $1,335,000	
 	

0.746	
%
	

The Travelers Life and

Annuity Company	
 	

Series A $1,335,000	
 	

0.746	
%
	

Primerica Life Insurance Company	
 	

Series A $1,602,000	
 	

0.895	
%
	

The Canada Life Assurance Company	
 	

Series A $10,769,000	
 	

6.020	
%
	

The Canada Life Insurance

Company of New York	
 	

Series A $356,000	
 	

0.199	
%
	

Swiss Re Life and Health, Inc.	
 	

Series A $8,900,000	
 	

4.975	
%
	

Beneficial Life Insurance Company	
 	

Series A $1,780,000	
 	

0.995	
%
	

Total Series A Notes	
 	

$150,054,000	
 	

83.876	
%
	

The Prudential Insurance

Company of America	
 	

Series B $4,125,000	
 	

2.306	
%
	

The Prudential Insurance

Company of America	
 	

Series B $1,741,300	
 	

0.973	
%
	

Baystate Investments LLC	
 	

Series B $1,466,850	
 	

0.820	
%
	

RGA Reinsurance Company	
 	

Series B $916,850	
 	

0.512	
%
	

John Hancock Life Insurance Company	
 	

Series B $2,623,500	
 	

1.466	
%
	

John Hancock Variable Life

Insurance Company	
 	

Series B $2,062,500	
 	

1.153	
%
	 	 	 	 	 	 

 

	

Investors Partner Life

Insurance Company	
 	

Series B $55,000	
 	

0.031	
%
	

Signature 6 Limited	
 	

Series B $220,000	
 	

0.123	
%
	

Goldman Sachs International	
 	

Series B $440,000	
 	

0.246	
%
	

The Travelers Insurance Company	
 	

Series B $1,177,000	
 	

0.658	
%
	

The Travelers Insurance Company	
 	

Series B $495,000	
 	

0.277	
%
	

The Travelers Insurance Company	
 	

Series B $165,000	
 	

0.092	
%
	

The Travelers Life and

Annuity Company	
 	

Series B $165,000	
 	

0.092	
%
	

Primerica Life Insurance Company	
 	

Series B $198,000	
 	

0.111	
%
	

The Canada Life Assurance Company	
 	

Series B $1,331,000	
 	

0.744	
%
	

The Canada Life Insurance

Company of New York	
 	

Series B $44,000	
 	

0.025	
%
	

Swiss Re Life and Health, Inc.	
 	

Series B $1,100,000	
 	

0.615	
%
	

Beneficial Life Insurance Company	
 	

Series B $220,000	
 	

0.123	
%
	

Total Series B Notes	
 	

$18,546,000	
 	

10.367	
%
	

Total Note Commitment	
 	

$168,600,000	
 	

94.243	
%
	

LESSOR	
 	

 	
 	

 	
 
	

CSL Leasing Inc.	
 	

$10,300,000	
 	

5.757	
%
	

TOTAL	
 	

$178,900,000	
 	

100	
%

2

QuickLinks

Exhibit 10.1(a)

Table of Contents

PARTICIPATION AGREEMENT

WITNESSETH

ARTICLE I DEFINITIONS; INTERPRETATION

ARTICLE II DOCUMENTATION DATE

ARTICLE III FUNDING OF ADVANCES

ARTICLE IV YIELD; INTEREST; FEES

ARTICLE V CERTAIN INTENTIONS OF THE PARTIES

ARTICLE VI CONDITIONS PRECEDENT: ACQUISITION DATE

ARTICLE VII DISTRIBUTIONS

ARTICLE VIII REPRESENTATIONS

ARTICLE IX PAYMENT OF CERTAIN EXPENSES

ARTICLE X OTHER COVENANTS AND AGREEMENTS

ARTICLE XI [INTENTIONALLY OMITTED]

ARTICLE XII TRANSFERS OF PARTICIPANTS' INTERESTS

ARTICLE XIII INDEMNIFICATION

ARTICLE XIV [INTENTIONALLY RESERVED]

ARTICLE XV MISCELLANEOUS

APPENDIX A TO PARTICIPATION AGREEMENT

SCHEDULE I TO PARTICIPATION AGREEMENTQuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 10.1(b)    
    

 
 

MASTER LEASE AND DEED OF TRUST    
    

Dated
as of June 15, 2003 

Between 

CSL
LEASING INC.,

as Lessor 

and

SABRE
INC.,

as Lessee 

        To
the extent, if any, that this Master Lease and Deed of Trust constitutes chattel paper (as such term is defined in the Uniform Commercial Code as in effect in any applicable
jurisdiction), no lien on this Master Lease and Deed of Trust may be created through the transfer or possession of any counterpart other than the original counterpart containing the receipt therefor
executed by WILMINGTON TRUST COMPANY as the Indenture Trustee, on or following the signature page hereof. This counterpart is  not the original counterpart.

  

 
 

Table Of Contents    
    

	SECTION

	 	HEADING

	 	Page

	ARTICLE I	 	DEFINITIONS	 	1
	 	Section 1.1.	 	 	Definitions; Interpretation	 	1
	ARTICLE II	 	MASTER LEASE	 	1
	 	Section 2.1.	 	 	Acceptance and Lease of Property	 	1
	 	Section 2.2.	 	 	Acceptance Procedure	 	1
	 	Section 2.3.	 	 	Lease Term	 	1
	 	Section 2.4.	 	 	Title	 	2
	ARTICLE III	 	PAYMENT OF RENT	 	2
	 	Section 3.1.	 	 	Rent	 	2
	 	Section 3.2.	 	 	Payment of Rent	 	2
	 	Section 3.3.	 	 	Supplemental Rent	 	2
	 	Section 3.4.	 	 	Method of Payment	 	2
	ARTICLE IV	 	QUIET ENJOYMENT; RIGHT TO INSPECT	 	3
	 	Section 4.1.	 	 	Quiet Enjoyment	 	3
	 	Section 4.2.	 	 	Right to Inspect	 	3
	ARTICLE V	 	NET LEASE, ETC	 	3
	 	Section 5.1.	 	 	Net Lease	 	3
	 	Section 5.2.	 	 	No Termination or Abatement	 	4
	ARTICLE VI	 	SUBLEASES AND ASSIGNMENTS	 	4
	 	Section 6.1.	 	 	Subletting	 	4
	 	Section 6.2.	 	 	Assignment	 	4
	ARTICLE VII	 	LESSEE ACKNOWLEDGMENTS	 	4
	 	Section 7.1.	 	 	Condition of the Property	 	4
	 	Section 7.2.	 	 	Risk of Loss	 	5
	ARTICLE VIII	 	POSSESSION AND USE OF THE PROPERTY, ETC	 	5
	 	Section 8.1.	 	 	Utility Charges	 	5
	 	Section 8.2.	 	 	Possession and Use of the Property	 	5
	 	Section 8.3.	 	 	Compliance with Requirements of Law and Insurance Requirements	 	5
	 	 	 	 	 	 

i

 

	ARTICLE IX	 	MAINTENANCE AND REPAIR; RETURN	 	5
	 	Section 9.1.	 	 	Maintenance and Repair; Return	 	5
	ARTICLE X	 	MODIFICATIONS, ETC	 	6
	 	Section 10.1.	 	 	Modifications, Substitutions and Replacement	 	6
	 	Section 10.2.	 	 	Notice to the Lessor, RVI Provider and Indenture Trustee	 	7
	ARTICLE XI	 	DISCHARGE OF LIENS; EASEMENTS	 	7
	 	Section 11.1.	 	 	Discharge of Liens	 	7
	 	Section 11.2.	 	 	Grants and Releases of Easements; Lessor Waivers	 	7
	ARTICLE XII	 	PERMITTED CONTESTS	 	8
	 	Section 12.1.	 	 	Permitted Contest	 	8
	ARTICLE XIII	 	INSURANCE	 	8
	 	Section 13.1.	 	 	Required Insurance	 	8
	 	Section 13.2.	 	 	Insurance Coverage	 	9
	ARTICLE XIV	 	EVENT OF LOSS; CASUALTY AND CONDEMNATION; ENVIRONMENTAL MATTERS	 	10
	 	Section 14.1.	 	 	Risk of Loss, Damage or Destruction	 	10
	 	Section 14.2.	 	 	Event of Loss; Casualty and Condemnation	 	10
	 	Section 14.3.	 	 	Environmental Matters	 	12
	 	Section 14.4.	 	 	Notice of Environmental Matters	 	12
	ARTICLE XV	 	TERMINATION OF LEASE	 	12
	 	Section 15.1.	 	 	Event of Loss Termination	 	12
	 	Section 15.2.	 	 	Termination Procedures	 	13
	ARTICLE XVI	 	EVENTS OF DEFAULT	 	13
	 	Section 16.1.	 	 	Lease Events of Default	 	13
	 	Section 16.2.	 	 	Remedies	 	15
	 	Section 16.3.	 	 	Waiver of Certain Rights	 	18
	 	Section 16.4.	 	 	Deed of Trust Remedies	 	18
	 	Section 16.5.	 	 	Excess Proceeds; Return of Property	 	19
	ARTICLE XVII	 	LESSOR'S RIGHT TO CURE	 	19
	 	Section 17.1.	 	 	The Lessor's Right to Cure the Lessee's Lease Defaults	 	19
	 	 	 	 	 	 

ii

 

	ARTICLE XVIII	 	PURCHASE PROVISIONS	 	19
	 	Section 18.1.	 	 	Purchase of Property	 	19
	 	Section 18.2.	 	 	Expiration Date Purchase Obligation	 	20
	 	Section 18.3.	 	 	Acceleration of Purchase Obligation	 	21
	 	Section 18.4.	 	 	Failure to Elect Options	 	21
	ARTICLE XIX	 	ACKNOWLEDGEMENT OF ASSIGNMENT	 	21
	ARTICLE XX	 	REMARKETING OPTION	 	21
	 	Section 20.1.	 	 	Option to Remarket	 	21
	 	Section 20.2.	 	 	Procedures During Remarketing	 	22
	 	Section 20.3.	 	 	Failed Remarketing	 	24
	ARTICLE XXI	 	PROCEDURES RELATING TO PURCHASE OR REMARKETING OPTIONS	 	24
	 	Section 21.1.	 	 	Provisions Relating to the Exercise of Purchase Option or Obligation and Conveyance upon Remarketing; Conveyance upon Certain Other Events	 	24
	 	Section 21.2.	 	 	Reconveyance	 	25
	ARTICLE XXII	 	ESTOPPEL CERTIFICATES	 	25
	 	Section 22.1.	 	 	Estoppel Certificates	 	25
	ARTICLE XXIII	 	ACCEPTANCE OF SURRENDER	 	26
	 	Section 23.1.	 	 	Acceptance of Surrender	 	26
	ARTICLE XXIV	 	NO MERGER OF TITLE	 	26
	 	Section 24.1.	 	 	No Merger of Title	 	26
	ARTICLE XXV	 	INTENT OF THE PARTIES	 	26
	 	Section 25.1.	 	 	Ownership of the Property	 	26
	ARTICLE XXVI	 	MISCELLANEOUS	 	27
	 	Section 26.1.	 	 	Severability; Perpetuities; Etc	 	27
	 	Section 26.2.	 	 	Amendments and Modifications	 	27
	 	Section 26.3.	 	 	No Waiver	 	27
	 	Section 26.4.	 	 	Notices	 	27
	 	Section 26.5.	 	 	Successors and Assigns	 	27
	 	Section 26.6.	 	 	Headings and Table of Contents	 	27
	 	Section 26.7.	 	 	Counterparts	 	27
	 	Section 26.8.	 	 	Governing Law	 	28
	 	Section 26.9.	 	 	Original Lease	 	28
	 	Section 26.10.	 	 	Time of Essence	 	28
	Exhibit A—Form of Lease Supplement	 	 

iii

 
 

MASTER LEASE AND DEED OF TRUST
  THIS DOCUMENT SECURES FUTURE ADVANCES    
    

        THIS MASTER LEASE AND DEED OF TRUST (this "Master Lease"), dated
as of June 15, 2003 between SABRE INC., a Delaware corporation, as Lessee and whose principal offices are located at 3150 Sabre Drive, Southlake, Texas
76092 (the "Lessee") and CSL LEASING INC., a Delaware corporation, whose principal offices are located
at c/o J.P. Morgan Services Inc., 500 Stanton Christiana Road, Newark, Delaware 19713-2107 (the "Lessor"). 

 
 

W I T N E S S E T H:    
    

        WHEREAS, pursuant to a Participation Agreement dated as of the date hereof (as amended, modified, restated or
supplemented from time to time, the "Participation Agreement"), among the Lessee, the Lessee Guarantor, the Lessor, the Purchasers and the Indenture
Trustee, the Purchasers and the Lessor have agreed to finance the acquisition of the Property; 

        WHEREAS, on the Acquisition Date, the Lessor will acquire from one or more third parties designated by the Lessee, certain Property; 

        WHEREAS, the Lessor desires to lease to the Lessee, and the Lessee desires to lease from the Lessor, the Property specified in the Lease
Supplement; and 

        WHEREAS, the Property will be subject to the terms of this Master Lease and the Lease Supplement; 

        NOW, THEREFORE, in consideration of the foregoing, and of other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows: 

 
 

ARTICLE I
  DEFINITIONS    
    

        Section 1.1. Definitions; Interpretation.    Capitalized terms used but not otherwise defined in this Master Lease have the
respective meanings specified in Appendix A to the Participation Agreement; and the rules of interpretation set forth in Appendix A to the Participation Agreement shall apply to this Master Lease. 

 
 

ARTICLE II
  MASTER LEASE    
    

        Section 2.1. Acceptance and Lease of Property.    Subject to the terms and conditions set forth herein and in the Participation
Agreement, including without limitation the satisfaction or waiver of the conditions set forth in Article VI thereof, the Lessor hereby agrees to accept, pursuant to the terms of the Participation
Agreement, delivery on the Acquisition Date of the Property from one or more third parties designated by the Lessee and simultaneously to demise and lease to the Lessee hereunder and under the Lease
Supplement for the Lease Term, the Lessor's interest in the Property and the Lessee hereby agrees, expressly for the direct benefit of the Lessor, to lease from the Lessor for the Lease Term the
interest of the Lessor in the Property identified in the Lease Supplement. 

        Section 2.2. Acceptance Procedure.    The Lessee hereby agrees that the execution and delivery by it of the Lease Supplement on
or as of the Acquisition Date shall, without further act, constitute the irrevocable acceptance by the Lessee of the Property for all purposes of this Master Lease and the other Operative Documents on
the terms set forth therein and herein, and that the Property shall be deemed to be included in the leasehold estate of this Master Lease and shall be subject to the terms and conditions of this
Master Lease as of the Acquisition Date. 

        Section 2.3. Lease Term.    The Lease Term of this Master Lease shall commence on (and include) the Acquisition Date of the
Property and end on (but exclude) the Expiration Date. 

 

        Section 2.4. Title.    The Property is leased to the Lessee without any representation or warranty, express or implied, by
Lessor and subject to the rights of parties in possession, the existing state of title (including, without limitation, all Liens) and all applicable Requirements of Law. The Lessee shall not in any
event have any recourse against the Lessor for any defect in or exception to title to the Property or leasehold interest therein other than resulting from Lessor Liens attributable to the Lessor. 

 
 

ARTICLE III
  PAYMENT OF RENT    
    

        Section 3.1. Rent.    (a) During the Lease Term, the Lessee shall pay Basic Rent to the Lessor on each Scheduled Payment Date,
on the date required under Section 20.2(h) in connection with the Lessee's exercise of the Remarketing Option and, with respect to the Property, on any date on which this Master Lease shall terminate
with respect to the Property. 

        (b)   Neither
the Lessee's inability or failure to take possession of all or any portion of the Property when delivered by the Lessor, nor the inability or failure of the
Lessor to deliver title or possession to all or any portion of the Property to the Lessee on the Acquisition Date, whether or not attributable to any act or omission of the Lessee or any act or
omission of the Lessor, or for any other reason whatsoever, shall delay or otherwise affect such Lessee's obligation to pay Rent for the Property in accordance with the terms of this Master Lease. 

        Section 3.2. Payment of Rent.    Rent shall be paid absolutely net to each Person entitled thereto, so that this Master Lease
shall yield to such Person the full amount thereof, without setoff, deduction or reduction. 

        Section 3.3. Supplemental Rent.    The Lessee shall pay to the Lessor or any other Person entitled thereto any and all
Supplemental Rent promptly as the same shall become due and payable, and if the Lessee fails to pay any Supplemental Rent, the Lessor and such other Persons shall have all rights, powers and remedies
provided for herein or by law or equity or otherwise in the case of nonpayment of Basic Rent. The Lessee shall pay to the Lessor, as Supplemental Rent, among other things, on demand, to the extent
permitted by applicable Requirements of Law, interest at the applicable Overdue Rate on any installment of Basic Rent not paid when due for the period for which the same shall be overdue
and on any payment of Supplemental Rent not paid when due for the period from the due date until the same shall be paid. The expiration or other termination of the Lessee's obligations to pay Basic
Rent hereunder shall not limit or modify the obligations of the Lessee with respect to Supplemental Rent. Unless expressly provided otherwise in this Master Lease or in the Participation Agreement, in
the event of any failure on the part of the Lessee to pay and discharge any Supplemental Rent as and when due, the Lessee shall also promptly pay and discharge, to the extent incurred as a result of
such failure on the part of the Lessee, any fine, penalty, interest or cost which may be assessed or added against any Participant by a third party for nonpayment or late payment of such Supplemental
Rent, all of which shall also constitute Supplemental Rent. 

        Section 3.4. Method of Payment.    Each payment of Rent payable by the Lessee to the Lessor under this Master Lease or any other
Operative Document shall be made by the Lessee to the Indenture Trustee as assignee of the Lessor under the Assignment of Lease and Rent (or, if the Indenture Trustee notifies the Lessee in writing
that all principal, Make-Whole Amount, if any, and interest on the Notes and all other amounts owing to the Purchasers and the Indenture Trustee under the Indenture and the other Operative Documents
have been paid in full, to the Lessor) prior to 11:00 a.m., New York City time to the Account in immediately available funds consisting of lawful currency of the United States of America on the date
when such payment shall be due. 

2

 

 
 

ARTICLE IV
  QUIET ENJOYMENT; RIGHT TO INSPECT    
    

        Section 4.1. Quiet Enjoyment.    Subject to the terms of each of the Operative Documents, the Lessee shall peaceably and quietly
have, hold and enjoy the Property for the Lease Term, free of any claim or other action by the Lessor or anyone claiming by, through or under the Lessor with respect to any matters arising from and
after the Acquisition Date. Such right of quiet enjoyment is independent of, and shall not affect the rights of the Lessor or any assignee thereof otherwise to initiate legal action to enforce, the
obligations of the Lessee under this Master Lease. 

        Section 4.2. Right to Inspect.    During the Lease Term, the Lessee shall upon reasonable notice (except that no notice shall be
required if a Lease Event of Default has occurred and is continuing), and from time to time, permit the Indenture Trustee, any Participant, and their respective authorized representatives to inspect
the Property subject to this Master Lease during normal business hours, and the Lessee will, upon the request of the Indenture Trustee or any Participant, make available to such Person the books and
records of the Lessee relating to the Property; provided that all such inspections shall be at the sole expense of the Indenture Trustee or such
Participant, as the case may be, unless a
Lease Event of Default shall have occurred and is continuing, in which case such inspection shall be at the sole expense of the Lessee. 

 
 

ARTICLE V
  NET LEASE, ETC.    
    

        Section 5.1. Net Lease.    This Master Lease shall constitute a net lease. Any present or future law to the contrary
notwithstanding, this Master Lease shall not terminate, nor shall the Lessee be entitled to any abatement, suspension, deferment, reduction, setoff, counterclaim, or defense with respect to the Rent,
nor shall the obligations of the Lessee hereunder be affected (except as expressly herein permitted and by performance of the obligations in connection therewith) by reason of: (i) any defect in the
condition, merchantability, design, construction, quality or fitness for use of the Property or any part thereof, or the failure of the Property to comply with all Requirements of Law, including any
inability to occupy or use the Property by reason of such non-compliance; (ii) any damage to, removal, abandonment, salvage, loss, contamination of or Release from, scrapping or destruction of or any
requisition or taking of the Property or any part thereof; (iii) any restriction, prevention or curtailment of or interference with the construction on or any use of the Property or any part thereof
including eviction; (iv) any defect in title of or rights to the Property or any Lien on such title or rights or on the Property; (v) any change, waiver, extension, indulgence or other action or
omission or breach in respect of any obligation or liability of or by the Indenture Trustee or any Participant; (vi) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution,
liquidation or other like proceedings relating to the Lessee, the Lessee Guarantor, the Indenture Trustee, any Participant or any other Person, or any action taken with respect to this Master Lease by
any trustee or receiver of the Lessee, the Lessee Guarantor, the Indenture Trustee, any Participant or any other Person, or by any court in any such proceeding; (vii) any claim that the Lessee has or
might have against any Person, including without limitation the Indenture Trustee, any Participant, or any vendor, manufacturer, contractor of or for the Property; (viii) any failure on the part of
the Lessor or any other Person to perform or comply with any of the terms of this Master Lease, of any other Operative Document or of any other agreement; (ix) any invalidity or unenforceability or
illegality or disaffirmance of this Master Lease against or by the Lessee or any provision hereof or any of the other Operative Documents or any provision of any thereof; (x) the impossibility or
illegality of performance by the Lessee, the Indenture Trustee, any Participant or all of them; (xi) any action by any court, administrative agency or other Governmental Authority; or (xii) any other
cause or circumstances whether similar or dissimilar to the foregoing and whether or not the Lessee shall have notice or knowledge of any of the foregoing. The Lessee's agreement in this Section 5.1
shall not affect any claim, action or right the Lessee may have 

3

 

against
the Lessor or any other Participants. The parties intend that the obligations of the Lessee hereunder shall be covenants and agreements that are separate and independent from any obligations
of the Lessor hereunder or under any other Operative Documents, and the obligations of the Lessee shall continue unaffected unless such obligations shall have been modified or terminated in accordance
with an express provision of this Master Lease. 

        Section 5.2. No Termination or Abatement.    The Lessee shall remain obligated under this Master Lease in accordance with its
terms and shall not take any action to terminate, rescind or avoid this Master Lease (except as provided herein), notwithstanding any action for bankruptcy, insolvency, reorganization, liquidation,
dissolution, or other proceeding affecting any Participant, or any action with respect to this Master Lease which may be taken by any trustee, receiver or liquidator of any Participant or by any court
with respect to any Participant. The Lessee hereby waives, to the extent permitted by law, all right (i) to terminate or surrender this Master Lease (except as provided herein) or (ii) to avail itself
of any abatement, suspension, deferment, reduction, setoff, counterclaim or defense with respect to any Rent. The Lessee shall remain obligated under this Master Lease in accordance with its terms and
the Lessee hereby waives, to the extent permitted by law, any and all rights now or hereafter conferred by statute or otherwise to modify or to avoid strict compliance with its obligations under this
Master Lease. Notwithstanding any such statute or otherwise, the Lessee shall be bound by all of the terms and conditions contained in this Master Lease and the Lease Supplement. 

 
 

ARTICLE VI
  SUBLEASES AND ASSIGNMENTS    
    

        Section 6.1. Subletting.    The Lessee may sublease the Property or any portion thereof to any Person;  provided,
however, that: (a) no sublease or other relinquishment of possession of all or any portion of the Property shall in any way discharge or
diminish any of the Lessee's obligations to the Lessor hereunder and the Lessee shall remain directly and primarily liable under this Master Lease and the Lease Supplement; (b) each sublease of the
Property shall expressly be made subject to and subordinate to this Master Lease and the related Lease Supplement and to the rights of the Lessor and the Indenture Trustee, as assignee of the Lessor,
hereunder and thereunder; (c) each sublease shall expressly provide for the surrender of the Property or portion thereof by the applicable sublessee at the election of the Indenture Trustee or the
Lessor (as applicable) after the occurrence of a Lease Event of Default; (d) each sublease shall expressly provide for termination prior to the Expiration Date unless the Lessee elects to purchase all
of the Property pursuant to Section 18.1; and (e) the use or uses under any sublease shall be such that they shall not impair the value or utility of the Property, as certified by a Responsible
Officer of the Lessee; provided that such certification shall not be binding on the Lessor in the event the Lessee elects the Remarketing Option. 

        Section 6.2. Assignment.    The Lessee may not assign to any Person, at any time, in whole or in part, any of its right, title
or interest in, to or under the Lease or any portion of the Property. 

 
 

ARTICLE VII
  LESSEE ACKNOWLEDGMENTS    
    

        Section 7.1. Condition of the Property.    THE LESSEE ACKNOWLEDGES AND AGREES THAT ALTHOUGH THE LESSOR
WILL OWN AND HOLD TITLE TO THE PROPERTY, THE LESSEE IS SOLELY RESPONSIBLE FOR THE PROPERTY AND ANY ALTERATIONS OR MODIFICATIONS THERETO. THE LESSEE FURTHER ACKNOWLEDGES AND AGREES THAT IT IS LEASING
THE PROPERTY "AS-IS, WHERE IS, AND WITH ALL FAULTS" WITHOUT REPRESENTATION, WARRANTY OR COVENANT (EXPRESS OR IMPLIED) BY THE
INDENTURE TRUSTEE, THE LESSOR OR ANY PURCHASER AND IN EACH CASE SUBJECT TO (A) THE EXISTING STATE OF TITLE, (B) THE RIGHTS OF ANY PARTIES IN POSSESSION THEREOF, (C) ANY STATE OF FACTS WHICH AN
ACCURATE SURVEY OR PHYSICAL INSPECTION MIGHT SHOW AND (D) VIOLATIONS OF REQUIREMENTS OF LAW WHICH MAY EXIST ON THE DATE HEREOF OR ON THE ACQUISITION DATE. 

4

 

NEITHER
THE INDENTURE TRUSTEE, NOR THE LESSOR NOR ANY PURCHASER HAS MADE OR SHALL BE DEEMED TO HAVE MADE ANY REPRESENTATION, WARRANTY OR COVENANT (EXPRESS OR IMPLIED) OR SHALL BE DEEMED TO HAVE ANY
LIABILITY WHATSOEVER AS TO THE TITLE (OTHER THAN FOR LESSOR LIENS ATTRIBUTABLE TO SUCH PERSON), VALUE, SUITABILITY, USE, CONDITION, DESIGN, OPERATION, OR FITNESS FOR USE OF THE PROPERTY (OR ANY PART
THEREOF), OR ANY OTHER REPRESENTATION, WARRANTY OR COVENANT WHATSOEVER, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY (OR ANY PART THEREOF) AND NEITHER THE INDENTURE TRUSTEE, NOR THE LESSOR NOR ANY
PURCHASER SHALL BE LIABLE FOR ANY LATENT, HIDDEN, OR PATENT DEFECT THEREIN (OTHER THAN FOR LESSOR LIENS ATTRIBUTABLE TO SUCH PERSON) OR THE FAILURE OF THE PROPERTY, OR ANY PART THEREOF, TO COMPLY WITH
ANY REQUIREMENT OF LAW.

        Section 7.2. Risk of Loss.    During the Lease Term the risk of loss of or decrease in the enjoyment and beneficial use of the
Property as a result of the damage or destruction thereof by fire, the elements, casualties, thefts, riots, wars or otherwise is assumed by the Lessee and the Lessor shall not in any event be
answerable or accountable therefor. 

 
 

ARTICLE VIII
  POSSESSION AND USE OF THE PROPERTY, ETC.    
    

        Section 8.1. Utility Charges.    The Lessee shall pay or cause to be paid all charges for electricity, power, gas, oil, water,
telephone, sanitary sewer service and all other rents and utilities used in or on the Property during the Lease Term. The Lessee shall be entitled to receive any credit or refund with respect to any
utility charge paid by the Lessee and, so long as no Lease Default or Lease Event of Default has occurred and is continuing, the amount of any credit or refund received by the Lessor on account of any
utility charges paid by Lessee, net of the costs and expenses reasonably incurred by the Lessor in obtaining such credit or refund, shall be promptly paid over to the Lessee. 

        Section 8.2. Possession and Use of the Property.    The Lessee covenants that the Property shall be used as office facilities
and applying standards of use no lower than the standards applied by the Lessee or its Affiliates for other comparable Property owned or leased by the Lessee or its Affiliates. The Lessee shall pay,
or cause to be paid, all charges and costs required in connection with the use of the Property as contemplated by this Master Lease and the Lease Supplement. The Lessee shall not commit or permit any
waste of the Property or any part thereof. 

        Section 8.3. Compliance with Requirements of Law and Insurance Requirements.    Subject to the terms of Article XII relating to
permitted contests, the Lessee, at its sole cost and expense, shall (a) comply in all respects with all Requirements of Law (including all Environmental Laws) and Insurance Requirements relating to
the Property, including the use, modification, operation, maintenance, repair and restoration thereof and the remarketing thereof pursuant to Article XX, whether or not compliance therewith shall
require structural or extraordinary changes in the Improvements or interfere with the use and enjoyment of the Property, and (b) procure, maintain and comply with all licenses, permits, orders,
approvals, consents and other authorizations required for the modification, use, maintenance and operation of the Property and for the use, operation, maintenance, repair and restoration of the
Improvements. 

 
 

ARTICLE IX
  MAINTENANCE AND REPAIR; RETURN    
    

        Section 9.1. Maintenance and Repair; Return.    (a) The Lessee, at its sole cost and expense, shall maintain the Property in as
good condition as when delivered to the Lessee hereunder (ordinary wear and tear excepted) and make all necessary repairs and Modifications thereto, of every kind and nature whatsoever, whether
ordinary or extraordinary or foreseen or unforeseen, in each case as required by all Requirements of Law and Insurance Requirements and in no event applying standards of 

5

 

maintenance
lower than the standards applied by the Lessee in the operation and maintenance of other comparable properties owned or leased by the Lessee or its Affiliates. 

        (b)   The
Lessor shall not under any circumstances be required to build any improvements on the Property, make any repairs, replacements, alterations or renewals of any nature
or description to the Property, make any expenditure whatsoever in connection with this Master Lease or the Lease Supplement or maintain the Property in any way. The Lessee waives any right to (i)
require the Lessor to maintain, repair, or rebuild all or any part of the Property or (ii) make repairs at the expense of the Lessor pursuant to any Requirement of Law, Insurance Requirement,
contract, agreement, or covenant, condition or restriction in effect at any time during the Lease Term. 

        (c)   The
Lessee shall, upon the expiration or earlier termination of this Master Lease with respect to the Property (other than as a result of the Lessee's purchase of the
Property from the Lessor as provided herein), vacate and surrender the Property to the Lessor in the condition required by this Master Lease. 

 
 

ARTICLE X
  MODIFICATIONS, ETC    
    

        Section 10.1. Modifications, Substitutions and Replacement.    During the Lease Term, the Lessee, at its sole cost and expense,
may at any time and from time to time make alterations, renovations, improvements and additions to the Property or any part thereof and substitutions and replacements therefor (collectively,  "Modifications"); provided, however, that: 

        (a)   except
for any Modification required to be made pursuant to a Requirement of Law (a "Required Modification"), no
Modification shall be made if it would adversely affect the marketability, value, utility or useful life of the Property or any part thereof from that which existed immediately prior to such
Modification; 

        (b)   the
Modification shall be done in a good and workmanlike manner; 

        (c)   the
Modification shall comply with all Insurance Requirements and all Requirements of Law (including all Environmental Laws) applicable to such Modification, including
the obtaining of any necessary permits; 

        (d)   subject
to the terms of Article XII relating to permitted contests, Lessee shall pay all costs and expenses and shall discharge (or cause to be insured or bonded over)
within thirty (30) days after the same shall be filed (or otherwise become effective) any Liens arising with respect to such Modification; 

        (e)   such
Modification shall comply with Sections 8.3 and 9.1(a); and 

        (f)    The
Lessee shall be required to obtain the prior written approval (which approval shall not be unreasonably withheld) of the Lessor and the Indenture Trustee (and, if
required by the RVI Policy, the RVI Provider) with respect to any alterations (other than Required Modifications) that shall cost in excess of 10% of the Property Cost of the Property. 

        All
Modifications shall remain part of the realty and shall be subject to this Master Lease and the applicable Lease Supplement and title thereto shall immediately vest in the Lessor. So
long as no Lease Event of Default has occurred and is continuing, the Lessee may place upon the Property any trade fixtures, machinery, equipment, inventory or other property belonging to the Lessee
or third parties and may remove the same at any time during the Lease Term, subject, however, to the terms of Section 9.1(a); provided, however, that
any trade fixtures placed on the Property do not impair the marketability, value, utility or useful life of the Property; provided, further, however,
that the Lessee shall keep and maintain at the Property and shall not remove from the Property any Equipment (except for removal in connection with the replacement or the maintenance or repair of such
Equipment provided 

6

 

that
any replacement Equipment shall promptly be titled in Lessor's name and otherwise be satisfactorily subjected to the terms of this Lease and the Lien of the Operative Documents. 

        Section 10.2. Notice to the Lessor, RVI Provider and Indenture Trustee.    If the Lessee reasonably expects the cost of any
Modification to exceed 10% of the Property Cost, the Lessee shall deliver to the Lessor, RVI Provider and the Indenture Trustee a brief written narrative of the work to be performed in connection with
such Modification prior to making such Modification. 

 
 

ARTICLE XI
  DISCHARGE OF LIENS; EASEMENTS    
    

        Section 11.1. Discharge of Liens.    (a) The Lessee agrees that except as otherwise provided herein and subject to the terms of
Article XII relating to permitted contests, the Lessee shall not directly or indirectly create or allow to remain, and shall promptly (and in any event within thirty (30) days after notice thereof is
received by the Lessee from any Person) discharge (or cause the same to be insured or otherwise bonded over) at its sole cost and expense, any Lien, defect, attachment, levy, title
retention agreement or claim upon the Property or any Lien, attachment, levy or claim with respect to any amounts held by the Lessor or the Indenture Trustee pursuant to this Master Lease as
collateral security for the Lessee's obligations or pending performance by the Lessee, other than Permitted Property Liens. 

        (b)   Nothing
contained in this Master Lease shall be construed as constituting the consent or request of the Lessor, the Indenture Trustee or any Purchaser, expressed or
implied, to or for the performance by any contractor, mechanic, laborer, materialman, supplier or vendor of any labor or services or for the furnishing of any materials for any construction,
alteration, addition, repair or demolition of or to the Property or any part thereof. NOTICE IS HEREBY GIVEN THAT NEITHER THE LESSOR NOR THE INDENTURE TRUSTEE NOR ANY PURCHASER
IS OR SHALL BE LIABLE FOR ANY LABOR, SERVICES OR MATERIALS FURNISHED OR TO BE FURNISHED TO THE LESSEE, OR TO ANYONE HOLDING THE PROPERTY OR ANY PART THEREOF THROUGH OR UNDER THE LESSEE, AND THAT NO
MECHANIC'S OR OTHER LIENS FOR ANY SUCH LABOR, SERVICES OR MATERIALS SHALL ATTACH TO OR AFFECT THE INTEREST OF THE LESSOR, THE INDENTURE TRUSTEE OR ANY PURCHASER IN AND TO THE
PROPERTY.

        Section 11.2. Grants and Releases of Easements; Lessor Waivers.    So long as no Lease Event of Default shall have occurred and
be continuing and subject to the provisions of Articles VII, IX and X and Section 8.3 hereof, the Lessor hereby consents in each instance to the following actions by the Lessee, in the name and stead
of the Lessor, but at the Lessee's sole cost and expense: (a) the granting of easements, licenses, rights-of-way and other rights and privileges in the nature of easements reasonably necessary or
desirable for the use, repair, or maintenance of the Property or burdening the Property as herein provided; (b) the release of existing easements or other rights in the nature of easements which are
for the benefit of the Property; (c) if required by applicable Governmental Authority, the dedication or transfer of unimproved portions of the Property for road, highway or other public purposes; (d)
the execution of amendments to any covenants and restrictions affecting the Property; and (e) the execution or release of any similar agreement; provided,
however, that in each case (i) such grant, release, dedication, transfer or amendment does not impair the value, utility or remaining useful life of the Property, (ii) such
grant, release, dedication, transfer or amendment is, in the Lessee's judgment, reasonably necessary in connection with the use, maintenance, alteration or improvement of the Property, (iii) such
grant, release, dedication, transfer or amendment will not cause the Property or any portion thereof to fail to comply with the provisions of this Master Lease or any other Operative Document or fail
to comply in any respect with all Requirements of Law (including, without limitation, all applicable zoning, planning, building and subdivision ordinances, all applicable restrictive covenants and all
applicable architectural approval requirements), (iv) all governmental consents or approvals required prior to such grant, release, dedication, transfer, annexation or amendment have been obtained,
and all filings required prior to such action have been made, (v) the 

7

 

Lessee
shall remain obligated under this Master Lease and the Lease Supplement in accordance with their respective terms, as though such grant, release, dedication, transfer or amendment had not been
effected, and (vi) the Lessee shall pay and perform any obligations of the Lessor under such grant, release, dedication, transfer or amendment. Without limiting the effectiveness of the foregoing,
provided that no Lease Event of Default shall have occurred and be continuing, the Lessor shall, upon the request of Lessee, and at the Lessee's sole cost and expense, execute and deliver any
instruments necessary or appropriate to confirm any such grant, release, dedication, transfer, annexation or amendment to any Person permitted under this Section 11.2, including landlord waivers with
respect to any of the foregoing. 

 
 

ARTICLE XII
  PERMITTED CONTESTS    
    

        Section 12.1. Permitted Contest.    If, to the extent and for so long as (a) a test, challenge, appeal or proceeding for review
of any Applicable Law or any Lien, encumbrance, levy, attachment or encroachment relating to the Property shall be prosecuted diligently and in good faith in appropriate proceedings by the Lessee, or
(b) compliance with such Applicable Law shall have been excused or exempted by a valid nonconforming use, variance permit, waiver, extension or forbearance, the Lessee shall not be required to comply
with such Applicable Law or remove or discharge any Lien, encumbrance, levy, attachment or encroachment but only if and so long as any such test, challenge,
appeal, proceeding, waiver, extension, forbearance or noncompliance shall not (in the reasonable opinion of the Lessor, the Indenture Trustee and the Purchasers) involve (A) any risk of criminal
liability being imposed on the Lessor, the Indenture Trustee or any Purchaser for failure to comply therewith or (B) any risk of (1) foreclosure, forfeiture or loss of the Property, or any part
thereof, or (2) the nonpayment of Rent or (C) any substantial risk of (1) the creation of any Lien (other than a Permitted Property Lien) on any part of the Property, (2) civil liability being imposed
on the Lessor, the Indenture Trustee, any Purchaser or the Property unless the Lessee shall have otherwise bonded or secured such amounts in a manner satisfactory to the Lessor, the Indenture Trustee
and the Purchasers, as the case may be, or (3) enjoinment of, or interference with, the use, possession or disposition of the Property in any respect. 

        Neither
the Lessor, the Indenture Trustee nor any Purchaser shall be required to join in any proceedings pursuant to this Section 12.1 unless a provision of any Applicable Law requires
that such proceedings be brought by or in the name of such party; and in that event such party will join in the proceedings or permit them or any part thereof to be brought in its name if and so long
as (i) the Lessee has not elected the Remarketing Option, and (ii) the Lessee pays all related expenses and indemnifies such party (in a manner satisfactory to such party) with respect to such
proceedings. 

 
 

ARTICLE XIII
  INSURANCE    
    

        Section 13.1. Required Insurance.    (a) Liability Insurance. During the Lease
Term for the Property, the Lessee shall procure and carry commercial general liability insurance for claims for injuries or death sustained by persons or damage to property while on the Property and
such other public liability coverages as are ordinarily procured by the Lessee or its Affiliates who own or operate similar properties, but in any case shall provide liability coverage of at least
$5,000,000 (which amount can be constituted, in part, with coverage from an umbrella policy) per occurrence. Such insurance shall be on terms and in amounts that are no less favorable than insurance
maintained by the Lessee or such Affiliates with respect to similar properties that they own or lease. The policy shall also specifically provide that the policy shall be considered primary insurance
which shall apply to any loss or claim before any contribution by any insurance which the Lessor, the Indenture Trustee and any Purchaser may have in force. 

8

 

        (b)   Worker's Compensation Laws. The Lessee shall, in connection with any Modifications and the operation of the Property,
comply with the applicable workers' compensation laws. 

        (c)   Hazard and Other Insurance. During the Lease Term for the Property, Lessee shall keep, or cause to be kept, the Property
insured against loss or damage by fire, windstorm, environmental risks and other risks (and during any Modification, builders' all-risk insurance) on terms and in amounts (which in all cases shall be
not less than the Property Cost) that are no less favorable than insurance covering other similar properties owned or leased by the Lessee or its Affiliates;  provided that the Lessee shall also obtain
(if the Property is located within an area identified as a special flood hazard area by the Federal Emergency
Management Agency) coverage for flood; provided further, that such insurance shall at all times be in an amount not less than the full replacement value
of the Property and otherwise be sufficient to satisfy the Schedule D reporting requirements for the Purchasers. Subject to the terms of Section 14.2, all insurance proceeds in respect of any loss or
occurrence for which the proceeds related thereto are (i) less than or equal to $5,000,000, in the absence of the occurrence and continuance of a Lease Event of Default, shall be adjusted by and paid
to the Lessee for application toward the reconstruction, repair or refurbishment of the Property, and (ii) greater than $5,000,000, the Lessee and the Lessor shall work together to jointly resolve
such insurance claim (unless a Lease Event of Default has occurred and is continuing, in which case such proceeds shall be adjusted solely by the Lessor) and held by the Lessor for application in
accordance with Article XIV. 

        (d)   Deductibles. Notwithstanding the foregoing, during the Lease Term, so long as the long-term senior unsecured debt of the
Lessee is rated Investment Grade by both S&P and Moody's, the Lessee may self-insure (through deductibles, self-insured retentions or otherwise) against the risks for which Sections 13.1(a) and
13.1(c) require insurance coverage. At any time that the long-term senior unsecured debt of the Lessee is not rated Investment Grade by both S&P and Moody's, the Lessee shall procure the insurance
required by Section 13.1(c) and such insurance shall not be subject to self-insurance (through deductibles, self-insured retentions or otherwise) in excess of $20,000,000. If during the Lease Term
third-party insurance shall be in effect and the Lessee then elects to self-insure, the Lessee will give ten (10) days prior written notice thereof to the Indenture Trustee, which notice shall confirm
that the requirements of this Section 13.1(d) have been met. For purposes of this Section 13.1(d), "Investment Grade" has the meaning specified in
Section 10.2(h) of the Participation Agreement. 

        Section 13.2. Insurance Coverage.    During the Lease Term for the Property the Lessee shall cause the insurance required to be
maintained by the Lessee under Section 13.1(a) or 13.1(c), to comply with the provisions of this Section 13.2. All insurance required under Section 13.1 shall be at the sole cost and expense of the
Lessee. 

        (a)   On
the Acquisition Date the Lessee shall furnish the Lessor and the Indenture Trustee with certificates showing the insurance required under Section 13.1 to be in
effect. Such certificates shall include a provision for no less than thirty (30) days' advance written notice by the insurer to the Lessor and the Indenture Trustee in the event of cancellation or
reduction of such insurance. 

        (b)   The
Lessee agrees that the insurance policy or policies required by Section 13.1(a) (including any maintained in connection with the construction of any Modifications)
shall (i) name the Indenture Trustee, the Lessor and each Purchaser as "additional insureds", and (ii) include an appropriate clause pursuant to which such policy shall provide that it will not be
invalidated should the Lessee waive, in writing, prior to a loss, any or all rights of recovery against any party for losses covered by such policy, and that the insurance in favor of the Lessor, the
Indenture Trustee and the Purchasers and their respective rights under and interests in such policies shall not be invalidated or reduced by any act or omission (including breach of warranty) or
negligence of the Lessee or any other Person having any interest in the Property. The Lessee hereby waives any and all such rights against the Lessor, the Indenture Trustee and the Purchasers to the
extent of payments made under such policies. All 

9

 

insurance
policies required by Section 13.1(c) shall name the Indenture Trustee as loss payee pursuant to a standard mortgagee loss payee endorsement. 

        (c)   All
such insurance shall be written by reputable insurance companies that are financially sound and solvent and otherwise reasonably appropriate considering the amount
and type of insurance being provided by such companies and which shall have a rating of not less than "A-: X" by A.M. Best or shall be otherwise reasonably acceptable to the Indenture Trustee (acting
at the direction of the Required Participants). 

        (d)   The
Lessee shall pay at its sole cost and expense as they become due all premiums for the insurance required by this Article XIII, and shall renew or replace each policy
prior to the expiration date thereof. During the Lease Term the Lessee shall, at the time each of the Lessee's insurance policies is renewed (but in no event less frequently than once each year),
deliver to the Lessor and the Indenture Trustee certificates of insurance evidencing that all insurance required by this Article XIII is being maintained by the Lessee and is in effect. Such
certificates shall include a provision for no less than thirty (30) days' advance written notice by the insurer to the Indenture Trustee and the Lessor in the event of cancellation or any material
reduction of such insurance. 

 
 

ARTICLE XIV
  EVENT OF LOSS; CASUALTY AND CONDEMNATION; ENVIRONMENTAL MATTERS    
    

        Section 14.1. Risk of Loss, Damage or Destruction.    At all times during the Lease Term for the Property, the Lessee bears all
risk of loss, damage, theft, taking, destruction, confiscation, requisition or commandeering, partial or complete, of or to the Property or any part thereof, however caused or occasioned, such risk to
be borne by the Lessee from the Acquisition Date and continuing until the Property has been returned to the Lessor in accordance with the provisions of this Master Lease or has been purchased by the
Lessee or another Person in accordance with the provisions of this Master
Lease. The Lessee agrees that no occurrence specified in the preceding sentence shall impair, in whole or in part, any obligation of the Lessee under this Master Lease, including the obligation to pay
Rent. 

        Section 14.2. Event of Loss; Casualty and Condemnation.    (a) Notice and
Election. Upon the occurrence of an Event of Loss, the Lessee shall promptly (and in any event within five (5) Business Days) give the Lessor and the Indenture Trustee written
notice of such Event of Loss and within thirty (30) days after such occurrence, shall give the Lessor and the Indenture Trustee of its election, subject to the terms hereof, to perform one of the
following two options (it being agreed that if the Lessee shall not given the Lessor and the Indenture Trustee notice of such election with such time, the Lessee shall be deemed to have elected to
perform the option set forth in clause (i) below); provided that the Lessee shall not have the right to select the option set forth in clause (ii) below
if (x) a Lease Default or Lease Event of Default shall have occurred and be continuing, (y) in the reasonable judgment of the Lessee the Property cannot be rebuilt or restored to the condition
required by this Lease prior to the Expiration Date, or (z) such Event of Loss relates to an Event of Loss described in clause (iii) of the definition thereof: 

        (i)    purchase
the interest of the Lessor in the Property in accordance with Article XV of this Master Lease; or 

        (ii)   rebuild
and restore the Property in accordance with Section 14.2(e). 

        (b)   Insurance Proceeds and Condemnation Awards. Subject to the provisions of Section 13.1 hereof and this Article XIV, (x) if
all or a portion of the Property is damaged or destroyed in whole or in part by a Casualty during the Lease Term, any insurance proceeds payable with respect to such Casualty shall be adjusted by and
paid directly to the Lessee, or if received by the Indenture Trustee or any Participant, shall be paid over to the Lessee for the reconstruction, refurbishment and repair of the Property, and (y) if
the use, access, occupancy, easement rights or title to the Property or any part 

10

 

thereof
is the subject of a Condemnation during the Lease Term for the Property, then any award or compensation relating thereto shall be adjusted by and paid to the Lessee;  provided, however, that, in each
case, if (A) any Lease Default shall have occurred and be continuing, or (B) such Casualty or Condemnation is an Event
of Loss or (c) the amount of such proceeds, award or compensation equals or exceeds $5,000,000, then such award, compensation or insurance proceeds shall be adjusted jointly by the Lessee and the
Lessor and paid directly to the Indenture Trustee (as assignee of the Lessor) or, if received by the Lessee, shall be held in trust for the Participants and shall be paid over by the Lessee to the
Indenture Trustee, to be distributed by the Indenture Trustee as follows: (x) in the case of a Lease Default, such amounts shall be distributed in accordance with Section 7.6(b) of the Participation
Agreement or held as additional security for the Lessee's obligations, and (y) in the case of an Event of Loss, such amounts shall either (1) if the Lessee has elected the option set forth in Section
14.2(a)(ii), be paid to the Lessee for the repair and restoration of the Property in accordance with Section 14.2(e) or (2) if the Lessee has elected or is deemed to have elected the option set forth
in Section 14.2(a)(i), be applied toward the payment of the Lease Balance in accordance with Section 15.1, and (z) in the case of proceeds, awards or compensation equal to or in excess of $5,000,000,
such amounts shall be paid to and held by the Indenture Trustee and, so long as no Lease Default shall have occurred and be continuing, paid to the Lessee upon completion of the repair and restoration
of the Property. 

        (c)   Participation in Proceedings. The Lessee may appear at its own cost and expense in any proceeding or action to negotiate,
prosecute, adjust or appeal any claim for any award, compensation or insurance payment on account of any Casualty or Condemnation with respect to the Property and shall pay all expenses thereof. At
the Lessee's reasonable request, and at the Lessee's sole cost and expense, the Lessor and the Indenture Trustee shall participate in any such proceeding, action, negotiation, prosecution or
adjustment. The Lessor and the Lessee agree that this Master Lease shall control the rights of the Lessor and the Lessee in and to any such award, compensation or insurance payment. 

        (d)   Notices of Casualty or Condemnation. In the event of any Casualty with respect to the Property for which the reasonable
anticipated cost of restoration equals or exceeds 5% of the Property Cost of the Property or of an actual, pending or threatened Condemnation of the Property or any material interest therein, (i) the
Lessee shall give notice thereof to the Lessor, the RVI Provider and to the Purchasers and the Indenture Trustee promptly after the receipt of such notice and (ii) the Lessor shall give copies of any
notice thereof to the Lessee, the RVI Provider and to the Purchasers and the Indenture Trustee promptly after receipt of such notice. 

        (e)   Repair. If this Master Lease shall continue in full force and effect with respect to the Property following an Event of
Loss or a Casualty or Condemnation, then the Lessee shall, so long as such repair may reasonably be expected to be completed with due diligence prior to Expiration Date, at its sole cost and expense
(utilizing insurance proceeds and condemnation awards as contemplated hereby; provided, however, that, if any award, compensation or insurance payment
is not sufficient to restore the Property in accordance with this clause (d), the Lessee shall pay the shortfall), promptly and diligently repair any damage to the Property caused by such Event of
Loss or Casualty or Condemnation in conformity with the requirements of Article XIII and Sections 8.3, 9.1 and 10.1 using the Plans and Specifications for the Property (as modified to give effect to
any subsequent Modifications, any Condemnation affecting the Property and all Applicable Law) so as to restore the Property to at least the same or similar condition, operation, function and value as
existed immediately prior to such Event of Loss or Casualty or Condemnation with such Modifications as the Lessee may elect in accordance with Section 10.1. In such event, title to the Property shall
remain with the Lessor subject to the terms of this Master Lease. Upon completion of such restoration, the Lessee shall furnish to the Lessor and the Indenture Trustee a Responsible Officer's
Certificate confirming that such restoration has been completed pursuant to this Master Lease. 

11

 

        (f)    Obligations Continue. In no event shall a Casualty or Condemnation affect the Lessee's obligations to pay Rent pursuant
to Section 3.1 hereof or to perform its obligations and pay any amounts due on the Expiration Date or pursuant to Articles XVIII and XX hereof. 

        (g)   Excess Casualty/Condemnation Proceeds. Upon the earlier of (x) the date on which all damage to the Property caused by a
Casualty or Condemnation shall have been repaired in accordance with Section 14.2(d) and (y) the date on which all amounts due and payable under Section 15.1 shall have been paid to the Indenture
Trustee, any Net Proceeds received by the Lessor, the Indenture Trustee or any Purchaser in respect of such Casualty or Condemnation, to the extent remaining after any application of such Net Proceeds
to the repair or restoration of the Property or to the payment of the Lease Balance, as the case may be (any such Net Proceeds remaining after such application, "Excess
Casualty/Condemnation Proceeds"), shall be promptly turned over to the Lessee. 

        Section 14.3. Environmental Matters.    Promptly upon the Lessee's obtaining knowledge of the existence of an Environmental
Violation with respect to the Property the cost of remediation of which the Lessee determines in its reasonable good faith judgment would reasonably be expected to exceed $1,000,000, the Lessee shall
notify the Lessor and the Indenture Trustee in writing of such Environmental Violation. Subject to Section 14.2, at the Lessee's sole cost and expense, the Lessee shall promptly and diligently
commence any response, clean up, remedial or other action necessary to remove, clean up or remediate any such Environmental Violation in accordance with the terms of Section 8.3. The Lessee shall,
upon completion of remedial action by the Lessee, cause to be prepared by an environmental consultant reasonably acceptable to the Lessor a report describing the Environmental Violation and the
actions taken by the Lessee (or its agents) in response to such Environmental Violation, and a statement by the consultant that the Environmental Violation has been remedied in compliance in all
respects with applicable Environmental Laws. Each such Environmental Violation shall be remedied prior to the Expiration Date unless the Property has been purchased by the Lessee in accordance with
Section 15.1, 18.1 or 18.2. Nothing in this Article XIV shall reduce or limit the Lessee's obligations under Section 13.1, 13.2 or 13.3 of the Participation Agreement. 

        Section 14.4. Notice of Environmental Matters.    Promptly, but in any event within thirty (30) days from the date the Lessee
has actual knowledge thereof, the Lessee shall provide to the Lessor and the Indenture Trustee written notice of any notice of any pending or threatened claim, action or proceeding involving any
Environmental Laws or any Release on or in connection with the Property. All such notices shall describe in reasonable detail the nature of the claim, action or proceeding and the Lessee's proposed
response thereto. In addition, the Lessee shall provide to the Lessor and the Indenture Trustee, within thirty (30) days of receipt, copies of all written communications with any Governmental
Authority relating to any Environmental Violation in connection with the Property. The Lessee shall also promptly provide such detailed reports of any such environmental claims as may reasonably be
requested by any Participant. In the event that the Lessor receives written notice of any pending or threatened claim, action or proceeding involving any Environmental Laws or any Release on or in
connection with the Property, the Lessor shall promptly give notice thereof to the Lessee. 

 
 

ARTICLE XV
  TERMINATION OF LEASE    
    

        Section 15.1. Event of Loss Termination.    If an Event of Loss occurs and Lessee has elected or is deemed to have elected to
purchase the interest of the Lessor in the Property pursuant to Section 14.2(a) and terminate this Master Lease, the Lessee shall on the next occurring Scheduled Payment Date not less than sixty (60)
days following the Event of Loss (but in any event not later than the Expiration Date), purchase the interest of the Lessor in all of the Property by paying to the Indenture Trustee (as assignee of
the Lessor) the Lease Balance as of such date (including, without limitation, the Make-Whole Amount, if any), and the Lessor shall transfer to the Lessee on such date of payment all 

12

 

of
the interest of the Lessor in the Property pursuant to the procedures set forth in Section 15.2 hereof. 

        Section 15.2. Termination Procedures.    On the date of the payment by the Lessee of all amounts required to be paid under
Section 15.1, in accordance with the procedures set forth in Section 15.1 (such date, the "Termination Date"), this Master Lease shall terminate. The
Lessor shall take the following actions in respect of the Property upon the Indenture Trustee's receipt of all amounts due with respect to the Property and all other amounts then due in accordance
with Section 15.1: 

        (a)   the
Lessor shall execute and deliver to the Lessee (or to the Lessee's designee) at the Lessee's cost and expense (which expenses include, without limitation, the
payment of any transfer, deed, and any other taxes): (i) a special warranty deed with respect to the Property containing representations and warranties regarding the absence of Lessor Liens
attributable to the Lessor (but no other representations or warranties other than the warranty of title), (ii) a bill of sale with respect to the interest of the Lessor in any items of personalty or
Equipment on the Property, containing representations and warranties regarding the absence of Lessor Liens attributable to the Lessor (but no other representations or warranties), and (iii) an
assignment of any and all other interests of the Lessor in the Property not otherwise conveyed in such deed or bill of sale (which shall include an assignment of all of the right, title and interest
of the Lessor in and to any Excess Casualty/Condemnation Proceeds), in each case in recordable form and otherwise in conformity with local custom to the extent consistent with the foregoing scope of
the Lessor's representations and warranties; 

        (b)   the
Property shall be conveyed to the Lessee (or to the Lessee's designee) "AS IS" and in their then present physical condition; and 

        (c)   at
the request of the Lessee, Net Proceeds with respect to the Property shall be applied against amounts due hereunder, and the Lessor shall convey to the Lessee any
Excess Casualty/Condemnation Proceeds. 

 
 

ARTICLE XVI
  EVENTS OF DEFAULT    
    

        Section 16.1. Lease Events of Default.    The occurrence of any one or more of the following events (whether such event shall be
voluntary or involuntary or come about or be effected by operation of law or pursuant to or in compliance with any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body) shall constitute a "Lease Event of Default": 

        (a)   (i)
the Lessee shall fail to make payment of any Basic Rent upon the same becoming due and payable and such failure shall continue unremedied for a period of three (3)
Business Days, (ii) the Lessee shall fail to make payment upon the same becoming due and payable of the Lease Balance, Purchase Option Price, Property Balance, Property Cost or Maximum Recourse Amount
or any amounts payable in conjunction with the payment of any of the foregoing including, without limitation, amounts due pursuant to Sections 15.1, 15.2, 18.1, 18.2, 18.3 or 20.2 hereof or (iii) the
Lessee Guarantor shall fail to make payment pursuant to Section 10.2 of the Participation Agreement upon the same becoming due and payable; or 

        (b)   the
Lessee shall fail to make payment of any Supplemental Rent (other than as specified in clause (a) above) when due and payable within five (5) days after receipt of
notice thereof from the party to whom Lessee is obligated to pay such Supplemental Rent; or 

        (c)   any
insurance required to be maintained by the Lessee pursuant to Article XIII of this Master Lease shall fail to be in effect or the Lessee defaults in the compliance
with Sections 10.1(i), (j), (k) or (l) of the Participation Agreement; or 

13

 

        (d)   the
Lessee or the Lessee Guarantor shall fail to observe or perform any term, covenant or condition applicable to it under any Operative Document to which it is a party
(other than those described in Section 16.1(a), (b), or (c) hereof) and such failure shall not be remedied within thirty (30) days after notice thereof has been given to the Lessee or the Lessee
Guarantor; or 

        (e)   the
Lessee shall fail to observe or perform any term, covenant or condition applicable it under Article XX of this Master Lease after giving written notice to the Lessor
and the Indenture Trustee of the Lessee's exercise of the Remarketing Option; or 

        (f)    any
representation or warranty made or deemed made by the Lessee or the Lessee Guarantor in any Operative Document to which it is a party or which is contained in any
certificate, document or financial or other statement furnished at any time under or in connection with any Operative Document shall prove to have been incorrect, false or misleading in any material
respect on or as of the date made or expressly deemed made; or 

        (g)   (i)
the Lessee, the Lessee Guarantor or any Subsidiary of either of them is in default (as principal or as guarantor or other surety) in the payment of any principal of
or premium or make-whole amount or interest on any Indebtedness that is outstanding in an aggregate principal amount of at least $25,000,000 beyond any period of grace provided with respect thereto,
or (ii) the Lessee, the Lessee Guarantor or any Subsidiary of either of them is in default in the performance of or compliance with any term of any evidence of any Indebtedness in an aggregate
outstanding principal amount of at least $25,000,000 or of any mortgage, indenture or other agreement relating thereto or any other condition exists, and as a consequence of such default or condition
such Indebtedness has become, or has been declared (or one or more Persons are entitled to declare such Indebtedness to be), due and payable before its stated maturity or before its regularly
scheduled dates of payment, or (iii) as a consequence of the occurrence or continuation of any event or condition (other than the passage of time or the right of the holder of Indebtedness to convert
such Indebtedness into equity interests), (x) the Lessee, the Lessee Guarantor or any Subsidiary of either of them has become obligated to purchase or repay Indebtedness before its regular maturity or
before its regularly scheduled dates of payment in an aggregate outstanding principal amount of at least $25,000,000, or (y) one or more Persons have the
right to require Lessee, the Lessee Guarantor or any Subsidiary of either of them so to purchase or repay such Indebtedness; or 

        (h)   the
Lessee, the Lessee Guarantor or any Subsidiary of either of them shall (i) have an order for relief entered with respect to it under the Bankruptcy Code or any other
bankruptcy, insolvency or other similar law as now or hereafter in effect, (ii) make an assignment for the benefit of creditors, (iii) fail to pay, or admit in writing its inability to pay, its debts
generally as they become due, (iv) apply for, seek, consent to, or acquiesce in the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any substantial
portion of its properties, (v) institute any proceeding seeking an order for relief under the Bankruptcy Code or any other bankruptcy, insolvency or other similar law as now or hereafter in effect or
seeking to adjudicate it as bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts under the Bankruptcy Code
or any other law relating to bankruptcy, insolvency or reorganization or relief of debtors or fail to file an answer or other pleading denying the material allegations of any such proceeding filed
against it, (vi) take any corporate action to authorize or effect any of the foregoing actions or (vii) fail to contest in good faith any appointment or proceeding described in Section 16.1(i) below;
or 

        (i)    without
the application, approval or consent of the Lessee, the Lessee Guarantor or any Subsidiary of either of them, a receiver, trustee, examiner, liquidator or
similar official shall be appointed for the Lessee, the Lessee Guarantor or any Subsidiary of either of them or any 

14

 

substantial
portion of the properties of any such Person, or a proceeding described in Section 16.1(h)(v) shall be instituted against the Lessee, the Lessee Guarantor or any Subsidiary of either of
them and such appointment continues undischarged or such proceeding continues undismissed or unstayed for a period of sixty (60) consecutive days; or 

        (j)    a
final judgment or judgments for the payment of money aggregating in excess of $15,000,000 are rendered against one or more of Lessee, the Lessee Guarantor or their
Subsidiaries and which judgments are not, within 60 days after entry thereof, bonded, discharged or stayed pending appeal, or are not discharged within 60 days after the expiration of such stay; or 

        (k)   if
(i) any Plan shall fail to satisfy the minimum funding standards of ERISA or the Code for any plan year or part thereof or a waiver of such standards or extension of
any amortization period is sought or granted under section 412 of the Code, (ii) a notice of intent to terminate any Plan shall have been or is reasonably expected to be filed with the PBGC or the
PBGC shall have instituted proceedings under ERISA section 4042 to terminate or appoint a trustee to administer any Plan or the PBGC shall have notified the Lessee Guarantor or any ERISA Affiliate
that a Plan may become a subject of any such proceedings, (iii) the aggregate amount of "unfunded accumulated benefit obligations" under all Plans, determined in accordance with Financial Accounting
Standards Board Statement No. 87 shall exceed $50,000,000, (iv) the Lessee Guarantor or any ERISA Affiliate shall have incurred or is reasonably expected to incur any liability pursuant to Title I or
IV of ERISA or the
penalty or excise tax provisions of the Code relating to employee benefit plans, (v) the Lessee Guarantor or any ERISA Affiliate withdraws from any Multiemployer Plan or (vi) the Lessee, the Lessee
Guarantor or any Subsidiary of either of them establishes or amends any welfare plan that provides post-retirement welfare benefits in a manner that would increase the Accumulated Postretirement
Benefit Obligation (APBO), as defined in Financial Accounting Standards Board Statement No. 106 and based on the actuarial methods and assumptions the subject employer uses to calculate the APBO for
its financial reporting; and any such event or events described in clauses (i) through (vi) above, either individually or together with any other such event or events, could reasonably be expected to
have a Material Adverse Effect; or 

        (l)    any
Operative Document to which the Lessee is a party or any Lien granted by the Lessee under any Operative Document shall, in whole or in part, terminate, cease to be
effective against, or (other than as expressly provided therein) cease to be the legal, valid, binding and enforceable obligation of the Lessee other than as permitted under, or pursuant to the terms
of, or in connection with a transaction permitted by, any Operative Document; or 

        (m)  the
Lessee or the Lessee Guarantor shall directly or indirectly contest the effectiveness, validity, binding nature or enforceability of any Operative Document to which
it is a party or any Lien granted under any Operative Document; or any Operative Document shall cease to be a legal, valid and binding obligation of the Lessee or the Lessee Guarantor, as the case may
be, or cease to be in full force and effect. 

        Section 16.2. Remedies.    Upon the occurrence of any Lease Event of Default and at any time thereafter, the Lessor may, so long
as such Lease Event of Default is continuing, do one or more of the following (and in such order) as the Lessor in its sole discretion shall determine, without limiting any other right or remedy the
Lessor may have on account of such Lease Event of Default (including, without limitation, the obligation of the Lessee to purchase all of the Property as set forth in Section 18.3): 

        (a)   The
Lessor may (i) declare the entire outstanding Lease Balance to be due and payable together with accrued unpaid Rent and any other amounts payable under the Operative
Documents, but exclusive of the indemnities not then payable under Article XIII of the Participation Agreement; provided, however, that in the event of
an actual or deemed entry of an order for relief with respect to the Lessee or any of its Subsidiaries under the Bankruptcy Code, 

15

 

all
Basic Rent and all other amounts payable under the Operative Documents by the Lessee 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 Lessee or (ii) make demand upon the Lessee therefor; 

        (b)   The
Lessor may, by notice to the Lessee, rescind or terminate this Master Lease as of the date specified in such notice; provided,
however, (i) no reletting, reentry or taking of possession of the Property (or any portion thereof) by the Lessor (or its agents) will be construed as an election on the
Lessor's part to terminate this Master Lease unless a written notice of such intention is given to the Lessee, (ii) notwithstanding any reletting, reentry or taking of possession, the Lessor may at
any time thereafter elect to terminate this Master Lease for a continuing Lease Event of Default, and (iii) no act or thing done by the Lessor or any of its agents, representatives or employees and no
agreement accepting a surrender of the Property shall be valid unless the same be made in writing and executed by the Lessor; 

        (c)   The
Lessor may (i) demand that the Lessee, and the Lessee shall upon the written demand of the Lessor, return all of the Property promptly to the Lessor in the manner
and condition required by, and otherwise in accordance with all of the provisions of, Articles VII and IX and Section 8.3 hereof as if the Property was being returned at the end of the Lease Term, and
the Lessor shall not be liable for the reimbursement of the Lessee for any costs and expenses incurred by the Lessee in connection therewith, and (ii) without prejudice to any other remedy which the
Lessor may have for possession of the Property, and to the extent and in the manner permitted by Applicable Law, enter upon the Property and take immediate possession of (to the exclusion of the
Lessee) the Property or any part thereof and expel or remove the Lessee and any other Person who may be occupying the Property, by summary proceedings or otherwise, all without liability to the Lessor
for or by reason of such entry or taking of possession, whether for the restoration of damage to property caused by such taking or otherwise and, in addition to the other damages of the Lessor, the
Lessee shall be responsible for all costs and expenses incurred by the Lessor, the Indenture Trustee and/or the Purchasers in connection with any reletting, including, without limitation, reasonable
brokers' fees and all costs of any alterations or repairs required to be made by the Lessor so that the Property achieves the standard of condition required by this Master Lease; 

        (d)   As
more fully set forth in Section 16.4 hereof and in the Lease Supplement (and consistent with the intent of the parties as detailed in Article XXV hereof), the Lessor
may exercise all remedies available to a mortgagee, secured party, beneficiary or trustee under law or equity, including, to the extent permitted by law, the right to sell all or any part of the
Property at public or private sale, as the Lessor may determine; 

        (e)   The
Lessor may, at its option, elect not to terminate this Master Lease and continue to collect all Basic Rent, Supplemental Rent, and all other amounts due to the
Lessor (together with all costs of collection) and enforce the Lessee's obligations under this Master Lease as and when the same become due, or are to be performed, and at the option of the Lessor,
upon any abandonment of the Property by the Lessee or re-entry of same by the Lessor, the Lessor may, in its sole and absolute discretion, elect not to terminate this Master Lease and may make the
necessary repairs in order to relet the Property, and relet the Property or any part thereof for such term or terms (which may be for a term extending beyond the Lease Term of this Master Lease) and
at such rental or rentals and upon such other terms and conditions as the Lessor in its reasonable discretion may deem advisable; and upon each such reletting, all rentals actually received by the
Lessor from such reletting shall be applied to the Lessee's obligations hereunder and under the other Operative Documents in the manner provided in Section 7.6(a) of the Participation Agreement. If
such rentals received from such reletting during any period are less than the Rent to be paid during that period by the Lessee hereunder, the Lessee shall pay any 

16

 

deficiency,
as calculated by the Lessor, to the Indenture Trustee on the next Scheduled Payment Date; 

        (f)    Unless
all of the Property has been sold in its entirety, the Lessor may, whether or not the Lessor shall have exercised or shall thereafter at any time exercise any of
its rights under clause (c), (d) or (e) of this Section 16.2 with respect to any or all of the Property or any portions thereof, demand, by written notice to the Lessee specifying a date not earlier
than twenty (20) days after the date of such notice, that the Lessee purchase, on the date specified in such notice, all of the unsold Property in accordance with the provisions of Article XXI and
Section 18.2; 

        (g)   Pursuant
to the Lease Supplement, the Lessor may sell the Property at public or private sale as the Lessor may determine, free and clear of any rights of the Lessee, and
without any duty to account to the Lessee with respect to such sale or for the proceeds thereof except as may be required by law and Lessee shall pay to Lessor, as liquidated damages for loss of a
bargain and not as a penalty (in lieu of the Basic Rent due for the Property for any period commencing after the date on which such sale occurs), the sum of (i) an amount equal to the excess, if any,
of (x) the outstanding Lease Balance (including, without limitation, the Make-Whole Amount, if any), over (y) the net proceeds of such sale, plus (ii) interest at the Overdue Rate on the amount
required to be paid by the Lessee pursuant to clause (i) above from the date of such sale until the date of actual payment; 

        (h)   The
Lessor may exercise any other right or remedy that may be available to it under Applicable Law, or proceed by appropriate court action (legal or equitable) to
enforce the terms hereof or to recover damages for the breach hereof. Separate suits may be brought to collect any such damages for any period(s), and such suits shall not in any manner prejudice the
Lessor's rights to collect any such damages for any subsequent period(s), or the Lessor may defer any such suit until after the expiration of the Lease Term, in which event such suit shall be deemed
not to have accrued until the expiration of the Lease Term; 

        (i)    The
Lessor may retain and apply against the Lease Balance all sums which the Lessor would, absent such Lease Event of Default, be required to pay to, or turn over to,
the Lessee pursuant to the terms of this Master Lease; or 

        (j)    The
Lessor, to the extent permitted by Applicable Law, as a matter of right and with notice to the Lessee, shall have the right to apply to any court having jurisdiction
to appoint a receiver or receivers of any part of the Property, and the Lessee hereby irrevocably consents to any such appointment. Any such receivers shall have all of the usual powers and duties of
receivers in like or similar cases and all of the powers and duties of the Lessor in case of entry, and shall continue as such and exercise such powers until the date of confirmation of the sale of
the Property unless such receivership is sooner terminated. 

        The
Lessor shall be entitled to enforce payment of the indebtedness and performance of the obligations secured hereby and to exercise all rights and powers under this instrument or under
any of the other Operative Documents or other agreement or any laws now or hereafter in force, notwithstanding some or all of the obligations secured hereby may now or hereafter be otherwise secured,
whether by mortgage, deed of trust, security agreement, pledge, lien, assignment or otherwise. Neither the acceptance of this instrument nor its enforcement shall prejudice or in any manner affect the
Lessor's right to realize upon or enforce any other security now or hereafter held by the Lessor, it being agreed that the Lessor shall be entitled to enforce this instrument and any other security
now or hereafter held by the Lessor in such order and manner as the Lessor may determine in its absolute discretion. No remedy herein conferred upon or reserved to the Lessor is intended to be
exclusive of any other remedy herein or by law provided or permitted, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or
in equity or by statute. Every power or remedy given by any of the Operative Documents to the Lessor or to which it 

17

 

may
otherwise be entitled, may be exercised, concurrently or independently, from time to time and as often as may be deemed expedient by the Lessor. In no event shall the Lessor, in the exercise of
the remedies provided in this instrument (including, without limitation, in connection with the assignment of rents to the Lessor, or the appointment of a receiver and the entry of such receiver onto
all or any part of the Property), be deemed a "mortgagee in possession," and the Lessor shall not in any way be made liable for any act, either of commission or omission, in connection with the
exercise of such remedies. 

        If
requested by the Lessor in connection with the exercise of its remedies pursuant to this Section 16.2, the Lessee hereby agrees to enter into an operating agreement with respect to
the Property in connection therewith to serve as the operator of the Property on market terms acceptable to the Lessor and Lessee. 

        Section 16.3. Waiver of Certain Rights.    (a) To the maximum extent permitted by law, the Lessee hereby waives the benefit of
any appraisement, valuation, stay, extension, reinstatement and redemption laws
now or hereafter in force and all rights of marshalling in the event of any sale of the Property or any interest therein, (b) if this Master Lease shall be terminated pursuant to Section 16.2, the
Lessee waives, to the fullest extent permitted by law, (i) any notice of re-entry or the institution of legal proceedings to obtain re-entry or possession; (ii) any right of redemption, re-entry or
repossession; (iii) the benefit of any laws now or hereafter in force exempting property from liability for rent or for debt or limiting the Lessor with respect to the election of remedies; and (iv)
any other rights which might otherwise limit or modify any of the Lessor's rights or remedies under this Article XVI. 

        Section 16.4. Deed of Trust Remedies.    Without limiting any other remedies set forth in this Master Lease, and also, without
limiting the generality of Article XXV hereof, the Lessor may proceed by a suit or suits in equity or at law, whether for a foreclosure hereunder or under the Lease Supplement, or (to the extent
permitted by law) for the sale of the Property, pursuant to a power of sale, or against the Lessee on a recourse basis for the Lease Balance, or for the specific performance of any covenant or
agreement contained herein or in aid of the execution of any power granted herein, or for the appointment of a receiver pending any foreclosure hereunder (or under the Lease Supplement) or the sale of
the Property, or for the enforcement of any other appropriate legal or equitable remedy. The Lessor shall have all rights available to a beneficiary under a deed of trust or a secured party under the
laws of the state where the Property is located, including, without limitation, all rights granted under the specific statutes referenced in the Lease Supplement, if any (each such statute, as
amended, is hereinafter referred to as a "Mortgage Foreclosure Act"). In the event that any provisions of this Master Lease shall be inconsistent with
any Mortgage Foreclosure Act, the provisions of such Mortgage Foreclosure Act shall take precedence over such provision of this Master Lease, but shall not invalidate or render unenforceable any other
provision of this Master Lease that can be construed in a manner consistent with such Mortgage Foreclosure Act. If any provision of this Master Lease shall grant the Lessor any rights or remedies upon
default of the Lessee which are more limited than the rights that would otherwise be vested in the Lessor under such Mortgage Foreclosure Act in the absence of such provision, the Lessor shall be
vested with the rights granted in such Mortgage Foreclosure Act to the full extent permitted by law. The Lessee agrees that the agreements of the Lessee herein contained shall be specifically
enforceable by injunction or any other appropriate equitable remedy and that for the purpose of any suit brought under this subparagraph, the Lessee hereby waives, to the fullest extent permitted by
law, the defense of laches and any applicable statute of limitations. In the event of foreclosure, the Lessee authorizes and empowers the Lessor to effect insurance upon the Property in amounts
aforesaid for a period covering the time of redemption from foreclosure sale provided by law, and if necessary therefor, to cancel any or all existing insurance policies required to be maintained
under this Master Lease. 

18

 

        Section 16.5. Excess Proceeds; Return of Property.    If, pursuant to the exercise by the Lessor of its remedies pursuant to
Section 16.2 or 16.4, the Lessor shall have received an amount equal to the Lease Balance, then the Lessor shall promptly remit to the Lessee any excess amounts received by the Lessor and, at the sole
cost and expense of the Lessee, transfer to the Lessee (or its designee) all of the Lessor's remaining right, title and interest (if any) in the Property in accordance with Section 21.1. 

 
 

ARTICLE XVII
  LESSOR'S RIGHT TO CURE    
    

        Section 17.1. The Lessor's Right to Cure the Lessee's Lease Defaults.    The Lessor, without waiving or releasing any obligation
or Lease Event of Default, may (but shall be under no obligation to) remedy any Lease Event of Default for the account and at the sole cost and expense of the Lessee, including the failure by the
Lessee to maintain the insurance required by Article XIII, and may, to the fullest extent permitted by law, and notwithstanding any right of quiet enjoyment in favor of the Lessee, enter upon the
Property for such purpose and take all such action thereon as may be necessary or appropriate therefor. No such entry shall be deemed an eviction of the Lessee. All reasonable out-of-pocket costs and
expenses so incurred (including fees and expenses of counsel), together with interest thereon at the Overdue Rate from the date on which such sums or expenses are paid by the Lessor, shall be paid by
the Lessee to the Lessor as Supplemental Rent. 

 
 

ARTICLE XVIII
  PURCHASE PROVISIONS    
    

        Section 18.1. Purchase of Property.    (a) Subject to the conditions contained herein, and without limitation of the Lessee's
purchase obligation pursuant to Section 18.2 or 18.3, the Lessee shall have the irrevocable option on any Scheduled Payment Date during the Lease Term to purchase all, but not less than all, of the
Property subject to this Master Lease (the "Purchase Option") at a price equal to the aggregate Lease Balance (other than the Make-Whole Amount if such
purchase is made on the Expiration Date) on the date of such purchase (the "Purchase Option Price"). The Lessee's exercise of its option pursuant to
this Section 18.1(a) shall be subject to the following conditions: 

        (i)    the
Lessee shall have delivered a Purchase Notice to the Lessor and the Indenture Trustee not less than forty five (45) days prior to such purchase, specifying the date
of such purchase; and 

        (ii)   the
Lessee shall not have delivered (or, if delivered, shall not have failed to rescind) a written notice of the Lessee's exercise of the Remarketing Option pursuant to
Section 20.1(a). 

        (b)   Subject
to the conditions contained herein, and without limitation of the Lessee's purchase obligation pursuant to Section 18.2 or 18.3, so long as no Lease Default or
Lease Event of Default has occurred and is continuing, the Lessee shall have the irrevocable option on any Scheduled Payment Date occurring after the first anniversary of the Acquisition Date and
prior to the final eighteen (18) months of the Lease Term to purchase (i) all, but not less than all, of the Solana Parcel, or (ii) all or any portion of the Undeveloped Parcel (each a  "Partial Purchase Option") at a price equal to (x) in the case of the Solana Parcel, the amount established for such parcel in the Appraisal delivered
on the Acquisition Date pursuant to Section 6.1(d) of the Participation Agreement, plus all Basic Rent due and payable on such Scheduled Payment Date, the Make-Whole Amount, if any, and all other
amounts due and payable to the Lessor, the Purchasers and the Indenture Trustee as of such Scheduled Payment Date, and (y) in the case of the Undeveloped Parcel, the per acre or per square foot amount
established by the Appraisal delivered on the Acquisition Date pursuant to Section 6.1(d) of the Participation Agreement multiplied by the number of acres or square feet of the Undeveloped Parcel to
be acquired by the Lessee, plus all Basic Rent due and payable on such Scheduled Payment Date, the Make-Whole Amount, if any, and all other amounts due and payable to the Lessor, the Purchasers and 

19

 

the
Indenture Trustee as of such Scheduled Payment Date (either of the foregoing amounts described in clause (x) or (y) being referred to herein as a "Partial Purchase Option
Price"). The Lessee's exercise of any option pursuant to this Section 18.1(b) shall be subject to the following conditions: 

        (i)    the
Lessee shall have delivered a Purchase Notice to the Lessor and the Indenture Trustee not less than forty five (45) days prior to such purchase, specifying the date
of such purchase; 

        (ii)   the
Lessee shall not have delivered (or, if delivered, shall not have failed to rescind) a written notice of the Lessee's exercise of the Remarketing Option pursuant to
Section 20.1(a); 

        (iii)  a
Partial Purchase Option with respect to the Undeveloped Parcel may only be exercised one (1) time; 

        (iv)  after
giving effect to any purchase pursuant to this Section 18.1(b), the remainder of the Land and Improvements thereon subject to this Master Lease shall (A) be a
separate lot for tax purposes and properly subdivided pursuant to all Requirements of Law, (B) have adequate and legal access for vehicular and pedestrian ingress and egress and for all necessary
utilities, including water, sewer, electricity and gas, and to the extent necessary for the use and enjoyment of such remainder, reciprocal easement agreements (such agreements to be in form and
substance satisfactory to the Lessor and the Indenture Trustee), and (C) be otherwise be in compliance with all Requirements of Law; 

        (v)   the
Fair Market Sales Value of the portion of the Property not subject to a Partial Purchase Option, as determined by an appraisal thereof delivered in connection with
the exercise of such option and in
form and substance satisfactory to the Lessor and the Indenture Trustee, after giving effect to such purchase, shall not be less than the Lease Balance as reduced by the purchase price of the parcel
or parcels being sold; 

        (vi)  the
RVI Policy shall either by its express terms permit such Partial Purchase Option, or the consent of the RVI Provider to such Partial Purchase Option (and issuance
of an endorsement to the RVI Policy satisfactory to the Lessor and the Indenture Trustee in connection therewith) shall have been obtained; and 

        (vii) the
Lessee shall have delivered such evidence of compliance with the provisions of clause (iv) above as the Lessor or the Indenture Trustee may reasonably request, in
form and substance satisfactory to them, and shall have paid all fees, costs and expenses, including those of the Participants and the Lessor, incurred in connection with any exercise of a Partial
Purchase Option. 

        (c)   If
the Lessee exercises any option pursuant to this Section 18.1 then, upon the Indenture Trustee's receipt of all amounts due in connection therewith, the Lessor shall
transfer to the Lessee or its designees all of the Lessor's right, title and interest in and to the Property in accordance with the procedures set forth in Section 21.1(a), such transfer to be
effective as of the date specified in the Purchase Notice. The Lessee may designate, in a notice given to the Lessor and the Indenture Trustee not less than ten (10) Business Days prior to the closing
of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the
terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall not cause
the Lessee to be released, fully or partially, from any of its obligations under this Master Lease or any other Operative Document, including, without limitation, the obligation to pay to the Lessor
the Lease Balance or Partial Purchase Option Price, as the case may be, on the date specified in the Purchase Notice. 

        Section 18.2. Expiration Date Purchase Obligation.    Unless (a) the Lessee shall have previously exercised its option pursuant
to Section 18.1 and purchased all of the Property pursuant thereto, or (b) 

20

 

the
Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements of Article XX, then, subject to the terms, conditions and provisions set forth in this
Article, and in accordance with the terms of Section 21.1(a), the Lessee (or its designee) shall purchase from the Lessor, and the Lessor shall convey to the Lessee (or its designee), on the
Expiration Date all of the interest of the Lessor in all of the Property for an amount equal to the Lease Balance (excluding any Make-Whole Amount). The Lessee may designate, in a notice given to the
Lessor and the Indenture Trustee not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be
made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided,
however, that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Master
Lease, including, without limitation, the obligation to pay the Lessor the Lease Balance (excluding any Make-Whole Amount) on such Expiration Date. 

        Section 18.3. Acceleration of Purchase Obligation.    The Lessee shall be obligated to purchase for an amount equal to the Lease
Balance all of the interest of the Lessor in all of the Property (notwithstanding any prior election to exercise its Purchase Option pursuant to Section 18.1) automatically and without notice upon the
occurrence of any Lease Event of Default described in clause (h) of Section 16.1. Any purchase under this Section 18.3 shall be in accordance with the procedures set forth in Section 21.1(a). 

        Section 18.4. Failure to Elect Options.    IN THE EVENT THE LESSEE FAILS TO ELECT AN OPTION WITH RESPECT
TO THE PROPERTY UNDER SECTION 18.1(A) OR 20.1 AT LEAST TWELVE (12) MONTHS PRIOR TO THE END OF THE LEASE TERM THEN IN EFFECT, THE LESSEE WILL BE DEEMED TO HAVE ELECTED TO PURCHASE THE PROPERTY PURSUANT
TO SECTION 18.2.

 
 

ARTICLE XIX
  ACKNOWLEDGEMENT OF ASSIGNMENT    
    

        The Lessee hereby acknowledges receipt of due notice that the Lessor's interest in the Lease has been assigned to the Indenture Trustee pursuant to the Indenture
and the Assignment of Lease and Rents for the benefit and security of the holders of the Notes. Unless and until Lessee shall have received written notice from the Indenture Trustee that the Indenture
has been discharged in accordance with its terms, the Indenture Trustee shall have the right to exercise the rights of the Lessor under the Lease to give consents, approvals, waivers, notices or the
like, to make elections, demands or the like and to take any other discretionary action under this Lease as though named as Lessor herein and no amendment or modification of, or waiver by or consent
of Lessor in respect of, any of the provisions of the Lease shall be effective unless the Indenture Trustee shall have joined in such amendment,
modification, waiver or consent or shall have given its prior written consent thereto. The Lessee shall deliver copies of all notices given under the Lease to the Lessor to the Indenture Trustee. 

 
 

ARTICLE XX
  REMARKETING OPTION    
    

        Section 20.1. Option to Remarket.    Subject to the fulfillment of each of the conditions set forth in this Section 20.1 and
Section 20.2 (collectively, the "Return Conditions"), the Lessee shall have the option (the "Remarketing
Option") to remarket and complete the sale of all, but not less than all, of the Property for the Lessor. 

21

 

        The
Lessee's effective exercise and consummation of the Remarketing Option shall be subject to the due and timely fulfillment of each of the following provisions and the provisions of
Section 20.2 as of the dates set forth below: 

        (a)   On
the date not later than twelve (12) months prior to the Expiration Date, the Lessee shall give to the Lessor, the RVI Provider and the Indenture Trustee written
notice of the Lessee's exercise of the Remarketing Option. Such notice may be rescinded at any time prior to the Expiration Date, upon which rescission the Lessee shall be obligated to purchase all
but not less than all of the Property pursuant to Section 18.2. 

        (b)   Not
later than one hundred and twenty (120) days prior to the Expiration Date, the Lessee shall deliver to the Lessor and the RVI Provider an Environmental Audit for the
Property. Each Environmental Audit shall be prepared by an environmental consultant selected by the Lessor in the Lessor's discretion and shall contain conclusions satisfactory to the Lessor as to the
environmental status of the Property. If any such Environmental Audit indicates any exceptions calling for a Phase Two environmental assessment, the Lessee shall have also delivered prior to the
Expiration Date a Phase Two environmental assessment by such environmental consultant and a written statement by such environmental consultant indicating that all such exceptions have been remedied in
compliance with Applicable Law. 

        (c)   On
the date of the Lessee's notice to the Lessor of the Lessee's exercise of the Remarketing Option, no Lease Event of Default or Lease Default or violation of any term
or condition of the RVI Policy by action or inaction on the part of the Lessee or the Lessee Guarantor shall exist, and, thereafter, through and including the Expiration Date, no Lease Event of
Default or Lease Default or violation of any term or condition of the RVI Policy by action or inaction on the part of the Lessee or the Lessee Guarantor shall occur. 

        (d)   The
Lessee shall have completed all Modifications, restoration and rebuilding of the Property pursuant to Sections 10.1 and 14.2 (as the case may be) and shall have
fulfilled all of the conditions and requirements in connection therewith pursuant to such Sections, in each case prior to the date on which the Lessor receives the Lessee's notice of the Lessee's
exercise of the Remarketing Option (time being of the essence), regardless of whether the same shall be within the Lessee's control. Lessee shall have also paid the cost of all Modifications commenced
prior to the Expiration Date. Lessee shall not have been excused pursuant to Section 12.1 from complying with any Applicable Law that involved the extension of the ultimate imposition of such
Applicable Law beyond the Expiration Date. Any Permitted Property Liens (other than Lessor Liens) on the Property that were contested by Lessee shall have been removed and the Lessor and the RVI
Provider shall have received evidence satisfactory to it that all Liens (other than Lessor Liens and uncontested Permitted Property Liens of the type described in clauses (i), (vii), (ix) and (x) of
the definition thereof) have been removed. 

        (e)   The
RVI Policy shall have neither terminated nor ceased to be in full force and effect at any time during the Term. 

        Section 20.2. Procedures During Remarketing.    (a) During the Marketing Period, the Lessee shall, as nonexclusive agent for the
Lessor, use its best efforts to sell the interest of the Lessor in the Property and will attempt to obtain the highest purchase price therefor. The Lessee will be responsible for hiring brokers (if
the Lessee so elects) and making the Property available for inspection by prospective purchasers. The Lessee shall promptly upon request permit inspection of the Property and any maintenance records
relating to the Property by the Lessor, any Participant and any potential purchasers, and the Lessee shall otherwise do all things necessary to sell and deliver possession of the Property to any
purchaser. All such marketing of the Property shall be at the Lessee's sole expense. 

        (b)   The
Lessee shall use best efforts to procure written bids from one or more bona fide prospective purchasers. No such
purchaser shall be the Lessee or any Affiliate thereof. Each written 

22

 

offer
must specify the Expiration Date as the closing date. The Lessor shall have the right, but shall be under no duty, to solicit bids, to inquire into the efforts of the Lessee to obtain bids or
otherwise to take action in connection with any such sale. 

        (c)   The
Lessee shall submit all bids to the Lessor promptly upon receipt, and the Lessor will have the right to submit any one or more bids. Any sale by the Lessee shall be
for the highest cash bid submitted to the Lessor. The Lessor shall determine the highest bid at least ten (10) days prior to the end of the Marketing Period, but in any event, the Lessor (unless
otherwise approved by the RVI Provider) shall have no obligation to approve any bid for the Property unless the highest bid equals or exceeds the sum of the outstanding balance of the Series B Notes  plus the Lessor B Portion plus all Permitted Sales Costs t. All bids shall be on an all-cash basis. 

        (d)   In
connection with any such sale of the Property, the Lessee will provide to the purchaser all customary "seller's"
indemnities (including, without limitation, an environmental indemnity) to the extent the same are required by the purchaser and representations and warranties regarding title, absence of Liens (other
than Permitted Property Liens of the type described in clause (i), (vii), (viii) or (x) of the definition thereof) and the condition of the Property. The Lessee shall have obtained, at its cost and
expense, all required governmental and regulatory consents and approvals and shall have made all filings as required by Applicable Law in order to carry out and complete the transfer of the Property.
As to the Lessor, any such sale shall be made on an "as is, with all faults" basis without representation or warranty by the Lessor other than the
absence of Lessor Liens attributable to the Lessor. The Lessee will deliver to the purchaser all documentation required by any title company to deliver clear title to the Property, an ALTA/ACSM survey
of each Property made no more than six (6) months prior to the Expiration Date, the Plans and Specifications for the Property and all other books and records relating to the Property. In addition, the
Lessee shall satisfy any requirement of the RVI Policy in connection with the sale of the Property. 

        (e)   The
Lessee shall pay directly, and not from the sale proceeds, all prorations, credits, costs and expenses of the sale of the Property, whether incurred by the Lessor or
the Lessee, including, without limitation, the cost of all title insurance, surveys, environmental reports, appraisals, transfer taxes, the attorneys' fees of the Lessor, the Lessee's attorneys' fees,
commissions, escrow fees, recording fees, and all applicable documentary and other transfer taxes. 

        (f)    The
Lessee shall pay to the Indenture Trustee on or prior to the Expiration Date (or in the case of Supplemental Rent, to the Person entitled thereto) an amount equal to
the Maximum Recourse Amount for the Property plus all accrued and unpaid Rent (including Supplemental Rent, if any) for the Property and all other
amounts hereunder which have accrued or will accrue prior to or as of the Expiration Date with respect to the Property, in the type of funds specified in Section 3.4 hereof. 

        (g)   The
Lessee shall pay to the Indenture Trustee on or prior to the Expiration Date the amounts, if any, required to be paid pursuant to Section 13.2 of the Participation
Agreement. 

        (h)   The
sale of the Property shall be consummated on the Expiration Date and the gross proceeds (the "Gross Remarketing
Proceeds") of the sale of the Property shall be paid directly to the Indenture Trustee. If the sale of the Property is consummated during the Marketing Period, then, upon the
Indenture Trustee's timely receipt of the Gross Remarketing Proceeds thereof, any proceeds of the RVI Policy and all other amounts due to the Indenture Trustee, the Lessor and the Participants under
this Master Lease and the other Operative Documents (including all amounts due pursuant to clause (f) above and Article XIII of the Participation Agreement), the Indenture Trustee shall apply such
Gross Remarketing Proceeds and other amounts, first, to the payment of Permitted Sales Costs, and  second, as set forth in Section 7.4 of the Participation
Agreement. If the Gross Remarketing Proceeds from such sale (if any) of the Property exceeds
the sum of (i) the Lease Balance as of such date minus the Maximum Recourse Amount, and other amounts paid to Indenture Trustee pursuant to clause (f) 

23

 

above  plus (ii) all Permitted Sales Costs, then the excess shall be paid to the Lessee on the Expiration Date. 

        (i)    Except
as expressly set forth herein, the Lessee shall have no right, power or authority to bind the Lessor, the Indenture Trustee or any Participant in connection with
any proposed sale of the Property. 

        (j)    During
the Marketing Period, the obligation of the Lessee to pay Rent (including the installment of Basic Rent due on the Expiration Date) shall continue undiminished
until payment in full of the Lease Balance and all other amounts due to the Participants under the Operative Documents to which the Lessee is a party. 

        Section 20.3. Failed Remarketing.    If the Lessee effectively elects the Remarketing Option with respect to the Property and
each of the conditions and requirements in Sections 20.1 and 20.2 shall have been satisfied, but nevertheless the Lessee is unable to obtain bids satisfactory to the Lessor, and the sale of the
Property is not consummated prior to the end of the Marketing Period, then the Lessee, at its election, shall either (i) purchase all but not less than all of the Property pursuant to Section 18.2
hereof, or (ii) pay to the Indenture Trustee all amounts due pursuant to Section 20.2(f) and provide to the RVI Provider or its designee all documents, representations, warranties and indemnities
required to be provided by the Lessee to a purchaser of the Property under Sections 20.1 and 20.2. In connection therewith, the Lessor shall convey its interest in the Property to the RVI Provider or
its designee to the extent required by, and as required by, the RVI Policy. 

 
 

ARTICLE XXI
  PROCEDURES RELATING TO PURCHASE OR REMARKETING OPTIONS    
    

        Section 21.1. Provisions Relating to the Exercise of Purchase Option or Obligation and Conveyance upon Remarketing; Conveyance upon Certain Other
Events.    (a) In connection with any termination of this Master Lease with respect to the Property pursuant to the terms of Article XV, in connection with the
Lessee's purchase of the Property in accordance with Section 18.1 or 18.2 hereof, in connection with the Lessee's Expiration Date Purchase Obligation or obligations under Section 16.2(f) or 18.3 or in
connection with the Lessor's receipt of an aggregate amount equal to all amounts set forth in Section 16.5 as set forth in such Section or in connection with any sale pursuant to the Remarketing
Option in accordance with Article XX, then, upon the date on which this Master Lease is to terminate and upon tender by the Lessee of the amounts set forth in Article XV, Sections 16.2(f), 16.5, 18.1,
18.2 or 18.3 hereof, as applicable: 

        (i)    the
Lessor shall execute and deliver to the Lessee (or to the Lessee's designee) at the Lessee's cost and expense: (x) a special warranty deed with respect to the
Property containing representations and warranties of grantor regarding the absence of Lessor Liens attributable to the Lessor (but no other representations or warranties except the warranty of
title), (y) a bill of sale with respect to the interest of the Lessor in any items of personalty or Equipment on the Property, containing representations and warranties of grantor regarding the
absence of Lessor Liens attributable to the Lessor (but no other representations or warranties), and (z) an assignment of the entire interest of the Lessor in the Property (which shall include an
assignment of all of the right, title and interest of the Lessor in and to any Excess Casualty/Condemnation Proceeds), in each case in recordable form and otherwise in conformity with local custom to
the extent consistent with the foregoing scope of the Lessor's representations and warranties and free and clear of the Lien of the Lease Supplement, the Deed of Trust and any Lessor Liens
attributable to the Lessor; 

        (ii)   the
Property shall be conveyed to the applicable purchaser (or to its designee) "AS IS" and in its then present physical condition; 

24

 

        (iii)  at
the Lessee's request, Lessor shall convey to the Lessee any Excess Casualty/Condemnation Proceeds with respect to the Property; and 

        (iv)  the
Lessor shall execute and deliver to the Lessee (or its designee) and the Lessee's title insurance company an affidavit as to the Lessor's title and Lessor Liens
attributable to the Lessor and shall execute and deliver to the Lessee, in recordable form, a statement of termination of this Master Lease with respect to the Property and termination of the Lease
Supplement (if applicable) covering the Property. 

        (b)   If
the Lessee properly exercises the Remarketing Option with respect to the Property pursuant to Article XX and a satisfactory purchaser is located or the Property is to
be transferred to the RVI Provider, then the Lessee shall, on the Expiration Date, and at its own cost, transfer possession of the Property to the independent purchaser thereof or the RVI Provider, by
surrendering the same into the possession of such purchaser or the RVI Provider, free and clear of all Liens other than Permitted Property Liens of the type described in clause (i), (iii), (vii),
(viii) or (x) of the definition thereof, in the condition required under Section 9.1 (as modified by Modifications permitted by this Master Lease), ordinary wear and tear excepted, and in compliance
with Applicable Law. The Lessee shall cooperate with the Lessor and the independent purchaser of the Property or the RVI Provider in order to facilitate the transfer of the Property, which cooperation
shall include, among other things, the following, all of which the Lessee shall do (or cause to be done) on or before the Expiration Date or as soon thereafter as is reasonably practicable: providing
copies of all books and records regarding the maintenance and ownership of the Property and all non-proprietary data and technical information relating thereto; providing a current copy of the Plans
and Specifications for the Property; granting or assigning all assignable licenses necessary for the operation and maintenance of the Property; and seeking and obtaining all necessary Governmental
Action. The obligations of the Lessee under this paragraph shall survive the expiration or termination of this Master Lease. The Lessor agrees to cooperate and execute such documents as are necessary
to facilitate the foregoing. 

        Section 21.2. Reconveyance.    Subject to the prior repayment of all principal, Make-Whole Amount, if any, and interest on the
Notes, all Lessor Amounts and Yield thereon and all other amounts due and owing to the Lessor, the Purchasers and the Indenture Trustee under the Operative Documents, if title to the Property remains
in the Lessor after the Expiration Date, the Lessor may require the Lessee to accept (and Lessee shall accept) a conveyance of the Property for $1.00 of consideration and otherwise in accordance with
Section 21.1. 

 
 

ARTICLE XXII
  ESTOPPEL CERTIFICATES    
    

        Section 22.1. Estoppel Certificates.    At any time and from time to time upon not less than twenty (20) Business Days' prior
request by the Lessor or the Lessee (the "Requesting Party"), the other party (whichever party shall have received such request, the  "Certifying Party")
shall furnish to the Requesting Party a certificate signed by an individual having the office of vice president, director or higher
certifying that this Master Lease is in full force and effect (or that this Master Lease is in full force and effect as modified and setting forth the modifications); the dates to which the Basic Rent
and Supplemental Rent have been paid; to the best knowledge of the signer of such certificate, whether or not the Requesting Party is in default under any of its obligations hereunder and, if so, the
nature of such alleged default; and such other matters under this Master Lease as the Requesting Party may reasonably request. 

        Any
such certificate furnished pursuant to this Article XXII may be relied upon by the Requesting Party, and any existing or prospective mortgagee, purchaser or lender, and any
accountant or auditor, of, from or to the Requesting Party (or any affiliate thereof). 

25

 

 
 

ARTICLE XXIII
  ACCEPTANCE OF SURRENDER    
    

        Section 23.1. Acceptance of Surrender.    No surrender to the Lessor of this Master Lease or of all or any of the Property or of
any part of any thereof or of any interest therein shall be valid or effective unless agreed to and accepted in writing by the Lessor and, prior to the payment or performance of all obligations under
the Notes, the Indenture and all other amounts due and payable to the Purchasers under the Operative Documents, the Indenture Trustee, and no act by the Lessor or any representative or agent of the
Lessor or any Purchaser other than a written acceptance, shall constitute an acceptance of any such surrender. 

 
 

ARTICLE XXIV
  NO MERGER OF TITLE    
    

        Section 24.1. No Merger of Title.    There shall be no merger of this Master Lease or of the leasehold estate created hereby by
reason of the fact that the same Person may acquire, own or hold, directly or indirectly, in whole or in part, (a) this Master Lease or the leasehold estate created hereby or any interest in this
Master Lease or such leasehold estate or (b) the fee estate in the Property, except as may expressly be stated in a written instrument duly executed and delivered by the appropriate Person. 

 
 

ARTICLE XXV
  INTENT OF THE PARTIES    
    

        Section 25.1. Ownership of the Property.    (a) The parties hereto intend that unless assigned by the Lessor in accordance with
the terms of the Operative Documents, or Applicable Law otherwise provides, legal title to the Property shall remain in the Lessor as security for the obligations of the Lessee hereunder and under the
other Operative Documents until the Lessee has fulfilled all of its obligations hereunder and under the other Operative Documents. The Lessee hereby grants to the Lessor a continuing Lien and security
interest in the Property to secure the payment of all sums due hereunder and under the other Operative Documents. The parties hereto intend that for state, real estate and commercial law and
bankruptcy purposes, (i) the Lease will be treated as a financing arrangement and (ii) the Lessor and the Purchasers will be deemed lenders making loans to the Lessee in an amount equal to the sum of
the Lessor Amounts and the outstanding principal amount of the Notes, which amounts are secured by the Properties. The parties hereto covenant to treat the Notes (and interests therein) and the Lessor
Amount as indebtedness of the Lessee for U.S. federal, state and local tax purposes and further covenant that they will not take any action inconsistent with such treatment (unless either (i) required
to do so by the United States Internal Revenue Service or the equivalent taxing authority of any foreign government or any U.S. state or political subdivision thereof (a  "Taxation Authority") or (ii) an
alternative position of a Taxation Authority is asserted, and such party reasonably believes, on advice of counsel,
that there is a reasonable basis for such asserted position). Nevertheless, the Lessee acknowledges and agrees that neither the Lessor, the Indenture Trustee, the Arranger nor any of the Purchasers
has provided, or will provide, any tax, accounting, or legal advice to the Lessee regarding the Operative Documents or the transaction contemplated thereby, and that the Lessee has obtained and relied
upon such tax, accounting and legal advice concerning the Operative Documents as it deems appropriate. 

        (b)   Specifically,
without limiting the generality of clause (a) of this Section 25.1, the parties hereto intend and agree that in the event of any insolvency or receivership
proceedings or a petition under the United States bankruptcy laws or any other applicable insolvency laws or statute of the United States of America or any state or commonwealth thereof affecting the
Lessee, the Lessee Guarantor, the Lessor or the Purchasers or any collection actions, the transactions evidenced by the Operative Documents shall be regarded as loans made by the Lessor and the
Purchasers as unrelated third party lenders of 

26

 

the
Lessee. The parties hereto covenant and agree that (except to the extent provided for in section 25.1(a) above) they will not take any action or advocate any position contrary to the intentions
set forth in this Article XXV. 

        (b)   It
is the intent of the parties hereto that this Master Lease grants a security interest and mortgage or deed of trust, as the case may be, on the Property to the Lessor
or for the benefit of the Lessor and the other Participants to secure the performance of the Lessee under and payment of all amounts under the Lease and the other Operative Documents all as more
specifically set forth in Section 5 of the Lease Supplement. 

 
 

ARTICLE XXVI
  MISCELLANEOUS    
    

        Section 26.1. Severability; Perpetuities; Etc.    If any term or provision of this Master Lease or any application thereof shall
be declared invalid or unenforceable, the remainder of this Master Lease (or the Lease Supplement) and any other application of such term or provision shall not be affected thereby. If any right or
option of the Lessee provided in this Master Lease, including any right or option described in Article XIV, XV, XVIII or XX, would, in the absence of the limitation imposed by this sentence, be
invalid or unenforceable as being in violation of the rule against perpetuities or any other rule of law relating to the vesting of an interest in or the suspension of the power of alienation of
property, then such right or option shall be exercisable only during the period which shall end twenty-one (21) years after the date of death of the last survivor of the descendants of Franklin D.
Roosevelt, the former President of the United States, Henry Ford, the deceased automobile manufacturer, and John D. Rockefeller, the founder of the Standard Oil Company, known to be alive on the date
of the execution, acknowledgment and delivery of this Master Lease. 

        Section 26.2. Amendments and Modifications.    Subject to the requirements, restrictions and conditions set forth in the
Participation Agreement, neither this Master Lease nor any provision hereof may be amended, waived, discharged or terminated except by an instrument in writing in recordable form signed by the parties
hereto. 

        Section 26.3. No Waiver.    No failure by the Lessor, the Indenture Trustee, any Participant, or the Lessee to insist upon the
strict performance of any term hereof or to exercise any right, power or remedy upon a default hereunder, and no acceptance of full or partial payment of Rent during the continuance of any such
default, shall constitute a waiver of any such default or of any such term. To the fullest extent permitted by law, no waiver of any default shall affect or alter this Master Lease, and this Master
Lease shall continue in full force and effect with respect to any other then existing or subsequent default. 

        Section 26.4. Notices.    All notices, demands, requests, consents, approvals and other communications hereunder shall be in
writing and directed to the address described in, and deemed received in accordance with the provisions of, Section 15.3 of the Participation Agreement. 

        Section 26.5. Successors and Assigns.    All the terms and provisions of this Master Lease shall inure to the benefit of the
parties hereto and their respective successors and permitted assigns. 

        Section 26.6. Headings and Table of Contents.    The headings and table of contents in this Master Lease are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof. 

        Section 26.7. Counterparts.    This Master Lease may be executed in any number of counterparts, each of which shall be an
original, but all of which shall together constitute one and the same instrument. 

27

 

        Section 26.8. Governing Law.    THIS MASTER LEASE AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (EXCLUDING ANY CONFLICTS OF LAW RULES WHICH WOULD OTHERWISE CAUSE THIS MASTER LEASE TO BE CONSTRUED
OR ENFORCED IN ACCORDANCE WITH, OR THE RIGHTS OF THE PARTIES TO BE GOVERNED BY, THE LAWS OF ANY OTHER JURISDICTION) EXCEPT AS OTHERWISE SET FORTH IN THE LEASE SUPPLEMENT WITH RESPECT TO THE CREATION
AND PERFECTION OF THE LIENS AND SECURITY INTERESTS IN THE PROPERTY AND EXCEPT FOR THE RIGHTS AND REMEDIES OF THE LESSOR AND THE PARTICIPANTS WITH RESPECT TO THE PROPERTY (INCLUDING WITHOUT LIMITATION
THOSE UNDER SECTIONS 16.2, 16.3, 16.4 AND 25.1 HEREOF AND ALSO THE PURCHASE OPTION UNDER ARTICLE XVIII HEREOF).

        Section 26.9. Original Lease.    The single executed original of this Master Lease marked "THIS
COUNTERPART IS THE ORIGINAL EXECUTED COUNTERPART" on the signature page thereof and containing the receipt thereof of WILMINGTON TRUST
COMPANY as Indenture Trustee for the Purchasers therefor on or following the signature page thereof shall be the Original Executed Counterpart of this Master Lease (the  "Original Executed
Counterpart"). To the extent that this Master Lease constitutes chattel paper, as such term is defined in the Uniform Commercial Code
as in effect in any applicable jurisdiction, no security interest in this Master Lease may be created through the transfer or possession of any counterpart other than the Original Executed
Counterpart. 

        Section 26.10. Time of Essence.    With respect to each of the Lessee's obligations and the Lessor's obligations hereunder, time
is of the essence, and each such party hereby acknowledges and confirms the foregoing. 

        [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

28

   
        IN WITNESS WHEREOF, the parties have caused this Master Lease to be duly executed and delivered as of the date first above written. 

	 	 	SABRE INC., as Lessee
	

 	
 	

By	

 	

 
	 	 	 	 	

	 	 	 	 	Name	

	 	 	 	 	Its	

	

 	
 	

CLS LEASING INC., as Lessor
	

 	
 	

By	

 	

 
	 	 	 	 	

	 	 	 	 	Name	

	 	 	 	 	Its	

1

QuickLinks

Exhibit 10.1(b)

MASTER LEASE AND DEED OF TRUST

Table Of Contents

MASTER LEASE AND DEED OF TRUST THIS DOCUMENT SECURES FUTURE ADVANCES

W I T N E S S E T H

ARTICLE I DEFINITIONS

ARTICLE II MASTER LEASE

ARTICLE III PAYMENT OF RENT

ARTICLE IV QUIET ENJOYMENT; RIGHT TO INSPECT

ARTICLE V NET LEASE, ETC.

ARTICLE VI SUBLEASES AND ASSIGNMENTS

ARTICLE VII LESSEE ACKNOWLEDGMENTS

ARTICLE VIII POSSESSION AND USE OF THE PROPERTY, ETC.

ARTICLE IX MAINTENANCE AND REPAIR; RETURN

ARTICLE X MODIFICATIONS, ETC

ARTICLE XI DISCHARGE OF LIENS; EASEMENTS

ARTICLE XII PERMITTED CONTESTS

ARTICLE XIII INSURANCE

ARTICLE XIV EVENT OF LOSS; CASUALTY AND CONDEMNATION; ENVIRONMENTAL MATTERS

ARTICLE XV TERMINATION OF LEASE

ARTICLE XVI EVENTS OF DEFAULT

ARTICLE XVII LESSOR'S RIGHT TO CURE

ARTICLE XVIII PURCHASE PROVISIONS

ARTICLE XIX ACKNOWLEDGEMENT OF ASSIGNMENT

ARTICLE XX REMARKETING OPTION

ARTICLE XXI PROCEDURES RELATING TO PURCHASE OR REMARKETING OPTIONS

ARTICLE XXII ESTOPPEL CERTIFICATES

ARTICLE XXIII ACCEPTANCE OF SURRENDER

ARTICLE XXIV NO MERGER OF TITLE

ARTICLE XXV INTENT OF THE PARTIES

ARTICLE XXVI MISCELLANEOUS

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