Document:

exv10w1

Exhibit 10.1

FIFTH AMENDMENT TO AMENDED AND RESTATED

CREDIT AGREEMENT AND LIMITED WAIVER

     THIS FIFTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT AND LIMITED WAIVER (this
“Amendment”) dated as of December 7, 2010, is by and among Concho Resources Inc., a
Delaware corporation (the “Borrower”), the Lenders party hereto (the “Lenders”) and
JPMorgan Chase Bank, N.A., as Administrative Agent (in such capacity, the “Administrative
Agent”). Unless the context otherwise requires or unless otherwise expressly defined herein,
capitalized terms used but not defined in this Amendment have the meanings assigned to such terms
in the Credit Agreement (as defined below).

WITNESSETH:

     WHEREAS, the Borrower, the Administrative Agent and the Lenders entered into that certain
Amended and Restated Credit Agreement dated as of July 31, 2008 (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”); and

     WHEREAS, the Borrower has requested that the Administrative Agent and the Required Lenders (a)
amend the Credit Agreement in certain respects and (b) waive the reductions of the Borrowing Base
and the Conforming Borrowing Base relating to the issuance of any Senior Notes from the date hereof
until the next Scheduled Redetermination of the Borrowing Base, and the Administrative Agent and
the Required Lenders have agreed to do so on the terms and conditions hereinafter set forth.

     NOW, THEREFORE, for and in consideration of the mutual covenants and agreements herein
contained and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged and confessed, the Borrower, the Administrative Agent and the Required Lenders,
hereby agree as follows:

SECTION 1. Amendments to Credit Agreement. Subject to the satisfaction or waiver in writing of
each condition precedent set forth in Section 3, and in reliance on the representations,
warranties, covenants and agreements contained in this Amendment, the Credit Agreement shall be
amended in the manner provided in this Section 1.

     1.1 Additional Definitions. Section 1.01 of the Credit Agreement shall be and it
hereby is amended by inserting the following definitions in the appropriate alphabetical order:

     “Fifth Amendment Effective Date” means December 7, 2010.

     “Permian Basin Sale” means the sale by the Borrower or any Restricted
Subsidiary of the oil and gas properties described in that certain Purchase and Sale
Agreement, dated November 5, 2010, by and between COG Operating LLC and Legacy
Reserves Operating LP; provided, that (a) such sale is consummated on or prior to
the next Scheduled Redetermination of the Borrowing Base after the Fifth Amendment
Effective Date, (b) the consideration received in respect of such sale shall be
equal to or greater than the fair market value of the properties

Page 1

 

sold and (c) such Purchase and Sale Agreement is not amended or otherwise modified
to include a material amount of additional oil and gas properties to be sold
thereunder unless otherwise consented to by the Administrative Agent.

     1.2 Indebtedness Under Senior Notes. Section 7.03(f) of the Credit Agreement shall be
and it hereby is amended in its entirety to read as follows:

     (f) subject to any adjustment to the Borrowing Base and Conforming Borrowing
Base required under Section 3.05, unsecured Indebtedness of the Borrower evidenced
by unsecured senior notes or unsecured senior subordinated notes and Guarantees
thereof in an aggregate principal amount not to exceed $900,000,000 at any time
outstanding (“Senior Notes”) and any Permitted Refinancing of any
Indebtedness incurred under this clause (f); provided that (i) at the time of and
immediately after giving effect to each issuance of such Senior Notes or any
Permitted Refinancing thereof, no Default shall have occurred and be continuing,
(ii) the final stated maturity date of such Senior Notes is not earlier than the
first anniversary after the Maturity Date (as in effect on the date of issuance of
such Senior Notes), (iii) the non-default stated interest rate of such Senior Notes
shall be consistent with market terms for issuers of similar size and credit quality
at the time of issuance, (iv) no scheduled principal amortization is required under
such Senior Notes prior to the stated maturity of such Senior Notes and (v) such
Senior Notes are evidenced by an indenture and related documents containing terms
and conditions, covenants and events of default that are customary for similar notes
and that are, in each case, reasonably satisfactory to the Administrative Agent; and

     1.3 Certain Dispositions. Section 7.05 of the Credit Agreement shall be and it hereby
is amended by inserting the following at the end of such Section:

Notwithstanding anything to the contrary in clause (b) of this Section 7.05, the
Permian Basin Sale shall be excluded for purposes of determining compliance with
clause (b) of this Section 7.05.

SECTION 2. Limited Waiver of Senior Notes Adjustment. Subject to the satisfaction or waiver in
writing of each condition precedent set forth in Section 3 of this Amendment, the Required
Lenders hereby waive the adjustments to the Borrowing Base and Conforming Borrowing Base required
under Section 3.05 of the Credit Agreement with respect to any Senior Notes issued by the
Borrower pursuant to Section 7.03(f) of the Credit Agreement (as amended by this Amendment)
during the period from the effective date of this Amendment to but excluding the Redetermination
Date of the next Scheduled Redetermination of the Borrowing Base and the Conforming Borrowing Base.
The Borrower agrees that nothing herein shall be construed as a continuing waiver of the
provisions of Section 3.05 of the Credit Agreement or of a waiver of Section
7.03(f) or any other provision of the Credit Agreement or any other Loan Document. The waiver
provided in this Section 2 is a limited one-time waiver, and nothing contained herein shall
obligate any Lender to grant any additional or future waiver or consent with respect to Section
3.05 of the Credit Agreement or any other provision of the Credit Agreement or any other Loan
Document.

Page 2

 

SECTION 3. Conditions. The amendments to the Credit Agreement set forth in Section 1 of
this Amendment and the limited waiver set forth in Section 2 of this Amendment shall be
effective upon the satisfaction of each of the conditions set forth in this Section 3.

     3.1 Execution and Delivery. Each Loan Party and the Required Lenders shall have executed and
delivered this Amendment and any other documents requested by the Administrative Agent prior to the
date hereof, all in form and substance satisfactory to the Administrative Agent.

     3.2 No Default. No Default shall have occurred and be continuing.

     3.3 Other Documents. The Administrative Agent shall have received such other instruments and
documents incidental and appropriate to the transaction provided for herein as the Administrative
Agent or its special counsel may reasonably request prior to the date hereof, and all such
documents shall be in form and substance satisfactory to the Administrative Agent.

SECTION 4. Representations and Warranties of the Borrower. To induce the Required Lenders
to enter into this Amendment, the Borrower hereby represents and warrants to the Required Lenders
as follows:

     4.1 Reaffirmation of Representations and Warranties/Further Assurances. After giving effect
to the amendments contained herein, each representation and warranty of the Borrower or any
Guarantor contained in the Credit Agreement or in any other Loan Document is true and correct in
all material respects on the date of this Amendment (except to the extent such representations and
warranties relate solely to an earlier date).

     4.2 Corporate Authority; No Conflicts. The execution, delivery and performance by the
Borrower and each Guarantor (to the extent a party hereto or thereto) of this Amendment and all
documents, instruments and agreements contemplated herein are within the Borrower’s or such
Guarantor’s corporate or other organizational powers, have been duly authorized by necessary
action, require no approval, consent or action by or in respect of, or filing with, any court or
agency of government.

     4.3 Enforceability. This Amendment constitutes the valid and binding obligation of the
Borrower enforceable in accordance with its terms, except as (i) the enforceability thereof may be
limited by bankruptcy, insolvency or similar laws affecting creditor’s rights generally, and (ii)
the availability of equitable remedies may be limited by equitable principles of general
application.

SECTION 5. Miscellaneous.

     5.1 Reaffirmation of Loan Documents and Liens. Any and all of the terms and provisions of the
Credit Agreement and the Loan Documents shall, except as amended and modified hereby, remain in
full force and effect. The Borrower hereby agrees that the amendments and modifications herein
contained shall not impair its liabilities, duties and obligations under the Credit Agreement and
the other Loan Documents to which it is a party or, except as expressly provided herein, the Liens
granted by it securing the payment and performance thereof. The execution, delivery and
effectiveness of this Amendment shall not

Page 3

 

operate as a waiver of any right, power or remedy of any Lender, the L/C Issuer or the
Administrative Agent under any of the Loan Documents, nor, except as expressly provided herein,
constitute a waiver or amendment of any provision of any of the Loan Documents. Upon and after the
execution of this Amendment by each of the parties hereto, each reference in the Credit Agreement
to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit
Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”,
“thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference
to the Credit Agreement as modified hereby. This Amendment is a Loan Document, and all provisions
in the Credit Agreement pertaining to Loan Documents apply hereto.

     5.2 Parties in Interest. All of the terms and provisions of this Amendment shall bind and
inure to the benefit of the parties hereto and their respective successors and assigns.

     5.3 Legal Expenses. The Borrower hereby agrees to pay all reasonable fees and expenses of
special counsel to the Administrative Agent incurred by the Administrative Agent in connection with
the preparation, negotiation and execution of this Amendment and all related documents.

     5.4 Counterparts. This Amendment may be executed in one or more counterparts and by different
parties hereto in separate counterparts each of which when so executed and delivered shall be
deemed an original, but all such counterparts together shall constitute but one and the same
instrument; signature pages may be detached from multiple separate counterparts and attached to a
single counterpart so that all signature pages are physically attached to the same document.
However, this Amendment shall bind no party until the Borrower, the Required Lenders, and the
Administrative Agent have executed a counterpart. Delivery of photocopies of the signature pages
to this Amendment by facsimile or electronic mail shall be effective as delivery of manually
executed counterparts of this Amendment.

     5.5 Complete Agreement. THIS AMENDMENT, THE CREDIT AGREEMENT, AND THE OTHER LOAN DOCUMENTS
REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN
THE PARTIES.

     5.6 Headings. The headings, captions and arrangements used in this Amendment are, unless
specified otherwise, for convenience only and shall not be deemed to limit, amplify or modify the
terms of this Amendment, nor affect the meaning thereof.

     5.7 Governing Law. This Amendment shall be governed by, and construed in accordance with, the
law of the State of Texas.

[Remainder of Page Intentionally Blank. Signature Pages Follow.]

Page 4

 

     IN WITNESS WHEREOF, the parties hereto have caused this Fifth Amendment to Amended and
Restated Credit Agreement and Limited Waiver to be duly executed as of the date first above
written.

	 	 	 	 	 
	 	BORROWER:	 
	 	 	 
	 	CONCHO RESOURCES INC.,

a Delaware corporation

 	 
	 	By:  	/s/   Darin G. Holderness
 	 
	 	 	Name:  	Darin G. Holderness 	 
	 	 	Title:  	Senior Vice President, 
Chief Financial
Officer and Treasurer 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.,

as Administrative Agent

 	 
	 	By:  	/s/  Mark E. Olson
 	 
	 	 	Mark E. Olson 	 
	 	 	Authorized Officer 	 
	 
	 	JPMORGAN CHASE BANK, N.A.,

as a Lender, L/C Issuer and Swing Line Lender

 	 
	 	By:  	/s/  Mark E. Olson
 	 
	 	 	Mark E. Olson 	 
	 	 	Authorized Officer 	 

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,

as Syndication Agent and a Lender

 	 
	 	By:  	/s/  Jeffrey H. Rathkamp
 	 
	 	 	Name:  	Jeffrey H. Rathkamp 	 
	 	 	Title:  	Managing Director 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	BNP PARIBAS,

as a Co-Documentation Agent and a Lender

 	 
	 	By:  	/s/  Andrew Ostrov
 	 
	 	 	Name:  	Andrew Ostrov 	 
	 	 	Title:  	Director 	 
	 
	 	By:  	                         /s/  Mei Wan Tong
 	 
	 	 	Name:  	Mei Wan Tong 	 
	 	 	Title:  	Director 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, f/k/a CALYON (NEW YORK BRANCH), 

as a Co-Documentation Agent and a Lender

 	 
	 	By:  	/s/  Tom Byargeon
 	 
	 	 	Name:  	Tom Byargeon 	 
	 	 	Title:  	Managing Director 	 
	 
	 	By:  	                         /s/  Michael Willis
 	 
	 	 	Name:  	Michael Willis 	 
	 	 	Title:  	Managing Director 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	ING CAPITAL LLC,

as a Co-Documentation Agent and a Lender

 	 
	 	By:  	/s/  Charles Hall
 	 
	 	 	Name:  	Charles Hall 	 
	 	 	Title:  	Managing Director 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	SCOTIABANC INC.,

as a Lender

 	 
	 	By:  	/s/  R. Blackwood
 	 
	 	 	Name:  	R. Blackwood 	 
	 	 	Title:  	Director 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	UNION BANK, N.A.,

as a Lender

 	 
	 	By:  	/s/  Alison Fuqua
 	 
	 	 	Name:  	Alison Fuqua 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	BANK OF SCOTLAND plc,

as a Lender

 	 
	 	By:  	/s/  Julia R. Franklin
 	 
	 	 	Name:  	Julia R. Franklin 	 
	 	 	Title:  	Assistant Vice President 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	COMPASS BANK,

as a Lender

 	 
	 	By:  	/s/  Kathleen J. Bowen
 	 
	 	 	Name:  	Kathleen J. Bowen 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	KEY BANK NATIONAL ASSOCIATION,

as a Lender

 	 
	 	By:  	/s/  David Morris
 	 
	 	 	Name:  	David Morris 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as a Lender

 	 
	 	By:  	/s/  Bruce E. Hernandez
 	 
	 	 	Name:  	Bruce E. Hernandez 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK, N.A.,

as a Lender

 	 
	 	By:  	/s/  Thomas E. Stelmar, Jr.
 	 
	 	 	Name:  	Thomas E. Stelmar, Jr. 	 
	 	 	Title:  	Vice-President and Portfolio Manager 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	SUMITOMO MITSUI BANKING CORPORATION,

as a Lender

 	 
	 	By:  	/s/  William M. Ginn
 	 
	 	 	Name:  	William M. Ginn 	 
	 	 	Title:  	General Manager 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	NATIXIS (formerly Natexis Banques Populaires),

as a Lender

 	 
	 	By:  	/s/  Donovan C. Broussard
 	 
	 	 	Donovan C. Broussard 	 
	 	 	Managing Director 	 
	 	 	 
	 	By:  	                                              /s/  Louis P. Laville, III
 	 
	 	 	Louis P. Laville, III 	 
	 	 	Managing Director 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	SUNTRUST BANK,

as a Lender

 	 
	 	By:  	/s/ Gregory C. Magnuson
 	 
	 	 	Name:  	Gregory C. Magnuson 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	STERLING BANK,

as a Lender

 	 
	 	By:  	/s/  Jeff Forbis
 	 
	 	 	Name:  	Jeff Forbis 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	BANK OF TEXAS, N.A.,

as a Lender

 	 
	 	By:  	/s/  Matthew Chase
 	 
	 	 	Name:  	Matthew Chase 	 
	 	 	Title:  	Vice President 	 

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	CITIBANK, N.A. (formerly Citibank Texas, N.A.), 
as a Lender

 	 
	 	By:  	/s/  Gary T. Brednich
 	 
	 	 	Name:  	Gary T. Brednich 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,

as a Lender

 	 
	 	By:  	/s/  Dusan Lazarov
 	 
	 	 	Name:  	Dusan Lazarov 	 
	 	 	Title:  	Director 	 
	 	 	 
	 	By:  	                       /s/  Evelyn Thierry
 	 
	 	 	Name:  	Evelyn Thierry 	 
	 	 	Title:  	Director 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	THE FROST NATIONAL BANK,

as a Lender

 	 
	 	By:  	/s/  Alex Zemkoski
 	 
	 	 	Name:  	Alex Zemkoski 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	BANK OF MONTREAL,

as a Lender

 	 
	 	By:  	/s/  Gumaro Tijerina
 	 
	 	 	Name:  	Gumaro Tijerina 	 
	 	 	Title:  	Director 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	BARCLAYS BANK PLC,

as a Lender

 	 
	 	By:  	/s/  Ann Sutton
 	 
	 	 	Name:  	Ann Sutton 	 
	 	 	Title:  	Director 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	THE ROYAL BANK OF SCOTLAND plc,

as a Lender

 	 
	 	By:  	/s/  Mark Lumpkin, Jr.
 	 
	 	 	Name:  	Mark Lumpkin, Jr. 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	UBS LOAN FINANCE LLC,

as a Lender

 	 
	 	By:  	/s/  Mary E. Evans
 	 
	 	 	Name:  	Mary E. Evans 	 
	 	 	Title:  	Associate Director 	 
	 	 	 
	 	By:  	                         /s/  Irja R. Otsa
 	 
	 	 	Name:  	Irja R. Otsa 	 
	 	 	Title:  	Associate Director 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	CAPITAL ONE, N.A.,

as a Lender

 	 
	 	By:  	/s/  Scott L. Joyce
 	 
	 	 	Name:  	Scott L. Joyce 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	CIBC, INC.,

as a Lender

 	 
	 	By:  	/s/  Trudy W. Nelson
 	 
	 	 	Name:  	Trudy W. Nelson 	 
	 	 	Title:  	Authorized Signatory 	 
	 	 	 
	 	By:  	                        /s/  Doug Cornett
 	 
	 	 	Name:  	Doug Cornett 	 
	 	 	Title:  	Authorized Signatory 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	COMERICA BANK,

as a Lender

 	 
	 	By:  	/s/  James A. Morgan
 	 
	 	 	Name:  	James A. Morgan 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	GOLDMAN SACHS BANK USA,

as a Lender

 	 
	 	By:  	/s/  Lauren Day
 	 
	 	 	Name:  	Lauren Day 	 
	 	 	Title:  	Authorized Signatory 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	REGIONS BANK,

as a Lender

 	 
	 	By:  	/s/  Kelly L. Elmore III
 	 
	 	 	Name:  	Kelly L. Elmore III 	 
	 	 	 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	ROYAL BANK OF CANADA,

as a Lender

 	 
	 	By:  	/s/  Don J. McKinnerney
 	 
	 	 	Name:  	Don J. McKinnerney 	 
	 	 	Title:  	Authorized Signatory 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	SOCIETE GENERALE,

as a Lender

 	 
	 	By:  	/s/  Scott A. Mackey
 	 
	 	 	Name:  	Scott A. Mackey 	 
	 	 	Title:  	Director 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	ALLIED IRISH BANKS PLC,

as a Lender

 	 
	 	By:  	/s/  Mark Connelly
 	 
	 	 	Name:  	Mark Connelly 	 
	 	 	Title:  	SVP 	 
	 	 	 
	 	By:  	                         /s/  Vaughn Buck
 	 
	 	 	Name:  	Vaughn Buck 	 
	 	 	Title:  	EVP 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	AMEGY BANK, N.A.,

as a Lender

 	 
	 	By:  	/s/  David T. Helffrich, III
 	 
	 	 	Name:  	David T. Helffrich, III 	 
	 	 	Title:  	AVP 	 
	 

Signature Page

 

 

	 	 	 	 	 
	 	CREDIT SUISSE AG, CAYMAN ISLANDS

as a Lender

 	 
	 	By:  	/s/  Ari Bruger
 	 
	 	 	Name:  	Ari Bruger 	 
	 	 	Title:  	Vice President 	 
	 	 	 
	 	By:  	                          /s/  Rahul Parmar
 	 
	 	 	Name:  	Rahul Parmar 	 
	 	 	Title:  	Associate 	 
	 

Signature Page

 

 

CONSENT AND REAFFIRMATION

     The undersigned (each a “Guarantor”) hereby (i) acknowledges receipt of a copy of the
foregoing Fifth Amendment to Amended and Restated Credit Agreement and Limited Waiver (the
“Fifth Amendment”); (ii) consents to the Borrower’s execution and delivery thereof; (iii)
agrees to be bound thereby; (iv) affirms that nothing contained therein shall modify in any respect
whatsoever its guaranty of the obligations of the Borrower to Lenders pursuant to the terms of its
Guaranty in favor of Agent and the Lenders (the “Guaranty”) or the Liens granted by it
securing payment and performance thereunder and (v) reaffirms that the Guaranty and such Liens are
and shall continue to remain in full force and effect. Although each Guarantor has been informed
of the matters set forth herein and has acknowledged and agreed to same, each Guarantor understands
that the Lenders have no obligation to inform any Guarantor of such matters in the future or to
seek any Guarantor’s acknowledgment or agreement to future amendments or waivers for its Guaranty
to remain in full force and effect, and nothing herein shall create such duty or obligation.

     IN WITNESS WHEREOF, the undersigned has executed this Consent and Reaffirmation on and as of
the date of this Fifth Amendment.

     

	 	 	 	 	 
	 	GUARANTORS:	 
	 	 	 
	 	COG OPERATING LLC,

a Delaware limited liability company

 	 
	 	By:  	/s/ Darin G. Holderness
 	 
	 	 	Name:  	Darin G. Holderness 	 
	 	 	Title:  	Senior Vice President, Chief Financial

Officer and Treasurer 	 
	 
	 	COG REALTY LLC,

a Texas limited liability company

 	 
	 	By:  	/s/ Darin G. Holderness
 	 
	 	 	Name:  	Darin G. Holderness 	 
	 	 	Title:  	Senior Vice President, Chief Financial

Officer and Treasurer 	 

Consent and Reaffirmation

Page 1

 

	 	 	 	 	 
	 	CONCHO ENERGY SERVICES LLC,

a Texas limited liability company

 	 
	 	By:  	/s/ Darin G. Holderness
 	 
	 	 	Name:  	Darin G. Holderness 	 
	 	 	Title:  	Senior Vice President, Chief Financial

Officer and Treasurer 	 
	 
	 	QUAIL RANCH LLC,

a Texas limited liability company

 	 
	 	By:  	/s/ Darin G. Holderness
 	 
	 	 	Name:  	Darin G. Holderness 	 
	 	 	Title:  	Senior Vice President, Chief Financial

Officer and Treasurer 	 
	 
	 	COG HOLDINGS LLC

 	 
	 	By:  	/s/ Darin G. Holderness
 	 
	 	 	Name:  	Darin G. Holderness 	 
	 	 	Title:  	Senior Vice President - Chief Financial

Officer and Treasurer 	 
	 
	 	CONCHO OIL & GAS LLC

 	 
	 	By:  	/s/ Darin G. Holderness
 	 
	 	 	Name:  	Darin G. Holderness 	 
	 	 	Title:  	Senior Vice President - Chief Financial

Officer and Treasurer 	 
	 
	 	COG EXCHANGE PROPERTIES LLC 

By: PSI 1031, LLC, its sole member

 	 
	 	By:  	/s/ David Needham
 	 
	 	 	Name:  	David Needham 	 
	 	 	Title:  	Vice President 	 

Consent and Reaffirmation

Page 2exv10w1

Exhibit 10.1

 

 

[Published CUSIP Number: ____]

FORM OF CREDIT AGREEMENT

Dated as of December [ ], 2010

among

SWIFT TRANSPORTATION CO., LLC,

as the Borrower,

SWIFT TRANSPORTATION COMPANY,

as Holdings,

The Other Guarantors Party Hereto,

BANK OF AMERICA, N.A.,

as Administrative Agent, Swing Line Lender and

L/C Issuer,

MORGAN STANLEY SENIOR FUNDING, INC.,

as Collateral Agent and Syndication Agent,

WELLS FARGO BANK, NATIONAL ASSOCIATION,

CITIGROUP CAPITAL MARKETS, INC. and

PNC CAPITAL MARKETS LLC,

as Co-Documentation Agents,

and

The Other Lenders Party Hereto

 

 

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

MORGAN STANLEY SENIOR FUNDING, INC.

WELLS FARGO SECURITIES, LLC,

CITIGROUP CAPITAL MARKETS, INC. and

PNC CAPITAL MARKETS LLC,

as Joint Lead Arrangers and Joint Bookrunners

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	Section	 	 	 	Page
	ARTICLE I

	DEFINITIONS AND ACCOUNTING TERMS

	 	 	 	 	 
	 	 	 	 
	 		 	 	Defined Terms
	 	 	1	 
	 		 	 	Other Interpretive Provisions
	 	 	31	 
	 		 	 	Accounting Terms
	 	 	31	 
	 		 	 	Rounding
	 	 	32	 
	 		 	 	Times of Day
	 	 	32	 
	 		 	 	Letter of Credit Amounts
	 	 	32	 
	 		 	 	Currency Equivalents Generally
	 	 	32	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE II

	THE COMMITMENTS AND CREDIT EXTENSIONS

	 	 	 	 	 
	 	 	 	 
	 		 	 	The Loans
	 	 	32	 
	 		 	 	Borrowings, Conversions and Continuations of Loans
	 	 	33	 
	 		 	 	Letters of Credit
	 	 	34	 
	 		 	 	Swing Line Loans
	 	 	42	 
	 		 	 	Prepayments
	 	 	45	 
	 		 	 	Termination or Reduction of Commitments
	 	 	47	 
	 		 	 	Repayment of Loans
	 	 	48	 
	 		 	 	Interest
	 	 	48	 
	 		 	 	Fees
	 	 	48	 
	 		 	 	Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate]
	 	 	49	 
	 		 	 	Evidence of Debt
	 	 	49	 
	 		 	 	Payments Generally; Administrative Agent’s Clawback
	 	 	50	 
	 		 	 	Sharing of Payments by Lenders
	 	 	51	 
	 		 	 	Defaulting Lenders
	 	 	52	 
	 		 	 	Borrower Repurchases
	 	 	54	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE III

	TAXES, YIELD PROTECTION AND ILLEGALITY

	 	 	 	 	 
	 	 	 	 
	 		 	 	Taxes
	 	 	54	 
	 		 	 	Illegality
	 	 	57	 
	 		 	 	Inability to Determine Rates
	 	 	58	 
	 		 	 	Increased Costs; Reserves on Eurodollar Rate Loans
	 	 	58	 
	 		 	 	Compensation for Losses
	 	 	59	 
	 		 	 	Mitigation Obligations; Replacement of Lenders
	 	 	60	 
	 		 	 	Survival
	 	 	60	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE IV

	CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

	 	 	 	 	 
	 	 	 	 
	 		 	 	Conditions of Initial Credit Extension
	 	 	60	 
	 		 	 	Conditions to all Credit Extensions
	 	 	64	 

i

 

	 	 	 	 	 	 	 	 	 
	Section	 	 	 	Page
	ARTICLE V

	REPRESENTATIONS AND WARRANTIES

	 	 	 	 	 
	 	 	 	 
	 		 	 	Organization
	 	 	64	 
	 		 	 	Due Authorization; Non-Contravention
	 	 	65	 
	 		 	 	Governmental Approval; Regulation
	 	 	65	 
	 		 	 	Validity
	 	 	65	 
	 		 	 	Financial Information
	 	 	65	 
	 		 	 	No Material Adverse Change
	 	 	66	 
	 		 	 	Litigation; Labor Controversies
	 	 	66	 
	 		 	 	Subsidiaries
	 	 	66	 
	 		 	 	Ownership of Properties
	 	 	66	 
	 		 	 	Taxes
	 	 	66	 
	 		 	 	Pension and Welfare Plans
	 	 	66	 
	 		 	 	Environmental Warranties
	 	 	66	 
	 		 	 	Accuracy of Information
	 	 	67	 
	 		 	 	Regulations U and X
	 	 	68	 
	 		 	 	Solvency
	 	 	68	 
	 		 	 	No Default
	 	 	68	 
	 		 	 	Compliance with Laws
	 	 	68	 
	 		 	 	Insurance
	 	 	68	 
	 		 	 	Collateral Documents
	 	 	68	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE VI

	AFFIRMATIVE COVENANTS

	 	 	 	 	 
	 	 	 	 
	 		 	 	Financial Information, Reports, Notices, etc
	 	 	69	 
	 		 	 	Maintenance of Existence; Compliance with Contracts, Laws, etc
	 	 	71	 
	 		 	 	Properties
	 	 	71	 
	 		 	 	Insurance
	 	 	72	 
	 		 	 	Books and Records
	 	 	72	 
	 		 	 	Environmental Law Covenant
	 	 	72	 
	 		 	 	Use of Proceeds
	 	 	73	 
	 		 	 	Future Guarantors, Security, etc
	 	 	73	 
	 		 	 	Secured Hedge Agreements
	 	 	74	 
	 		 	 	Maintenance of Ratings
	 	 	74	 
	 		 	 	Post-Closing Obligations
	 	 	74	 
	 		 	 	Ratings Information
	 	 	75	 
	 		 	 	Motor Vehicle Monitor
	 	 	75	 
	 		 	 	 
	 	 	 	 
	ARTICLE VII

	NEGATIVE COVENANTS

	 	 	 	 	 
	 	 	 	 
	 		 	 	Business Activities
	 	 	76	 
	 		 	 	Indebtedness
	 	 	76	 
	 		 	 	Liens
	 	 	79	 
	 		 	 	Financial Condition and Operations
	 	 	81	 
	 		 	 	Investments
	 	 	81	 
	 		 	 	Restricted Payments
	 	 	83	 
	 		 	 	Capital Expenditures
	 	 	84	 
	 		 	 	No Prepayment of Certain Indebtedness
	 	 	84	 

ii

 

	 	 	 	 	 	 	 	 	 
	Section	 	 	 	Page
	 		 	 	Issuance of Capital Securities
	 	 	85	 
	 		 	 	Consolidation, Merger; Permitted Acquisitions, etc
	 	 	85	 
	 		 	 	Permitted Dispositions
	 	 	86	 
	 		 	 	Modification of Certain Agreements
	 	 	87	 
	 		 	 	Transactions with Affiliates
	 	 	87	 
	 		 	 	Restrictive Agreements
	 	 	88	 
	 		 	 	Sale and Leaseback
	 	 	88	 
	 		 	 	Accounting Changes
	 	 	89	 
	 		 	 	 
	 	 	 	 
	ARTICLE VIII

	EVENTS OF DEFAULT AND REMEDIES

	 	 	 	 	 
	 	 	 	 
	 		 	 	Events of Default
	 	 	89	 
	 		 	 	Remedies upon Event of Default
	 	 	91	 
	 		 	 	Application of Funds
	 	 	91	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE IX

	AGENTS

	 	 	 	 	 
	 	 	 	 
	 		 	 	Appointment and Authority
	 	 	92	 
	 		 	 	Rights as a Lender
	 	 	93	 
	 		 	 	Exculpatory Provisions
	 	 	93	 
	 		 	 	Reliance by Agent
	 	 	94	 
	 		 	 	Delegation of Duties
	 	 	94	 
	 		 	 	Resignation of Administrative Agent
	 	 	95	 
	 		 	 	Non-Reliance on Agents and Other Lenders
	 	 	96	 
	 		 	 	No Other Duties, Etc
	 	 	96	 
	 		 	 	Administrative Agent May File Proofs of Claim
	 	 	96	 
	 		 	 	Collateral and Guaranty Matters
	 	 	97	 
	 		 	 	Secured Cash Management Agreements and Secured Hedge Agreements
	 	 	97	 
	 		 	 	Waiver of Claims
	 	 	98	 
	 		 	 	 
	 	 	 	 
	ARTICLE X

	MISCELLANENOUS

	 	 	 	 	 
	 	 	 	 
	 		 	 	Amendments, Etc
	 	 	98	 
	 		 	 	Notices; Effectiveness; Electronic Communications
	 	 	100	 
	 		 	 	No Waiver; Cumulative Remedies; Enforcement
	 	 	101	 
	 		 	 	Expenses; Indemnity; Damage Waiver
	 	 	102	 
	 		 	 	Payments Set Aside
	 	 	104	 
	 		 	 	Successors and Assigns
	 	 	104	 
	 		 	 	Treatment of Certain Information; Confidentiality
	 	 	108	 
	 		 	 	Right of Setoff
	 	 	108	 
	 		 	 	Interest Rate Limitation
	 	 	109	 
	 		 	 	Counterparts; Integration; Effectiveness
	 	 	109	 
	 		 	 	Survival of Representations and Warranties
	 	 	109	 
	 		 	 	Severability
	 	 	109	 
	 		 	 	Replacement of Lenders
	 	 	109	 
	 		 	 	Governing Law; Jurisdiction; Etc
	 	 	110	 
	 		 	 	Waiver of Jury Trial
	 	 	111	 
	 		 	 	No Advisory or Fiduciary Responsibility
	 	 	111	 

iii

 

	 	 	 	 	 	 	 	 	 
	Section	 	 	 	Page
	 	 	 	 	Electronic Execution of Assignments and Certain Other Documents
	 	 	111	 
	 	 	 	 	USA PATRIOT Act
	 	 	111	 
	 	 	 	 	 
	 	 	 	 
	SIGNATURES	 	 	S-1	 

iv

 

SCHEDULES

	 	 	 

	2.01

	 	Commitments and Applicable Percentages
	5.07

	 	Litigation
	5.08

	 	Subsidiaries
	5.09

	 	Owned Real Property
	5.11

	 	Contingent Liabilities under Welfare Plans
	5.12

	 	Environmental Matters
	5.19

	 	Mortgage Filing Offices
	7.02

	 	Existing Indebtedness
	7.03(c)

	 	Existing Liens
	7.05(a)

	 	Existing Investments
	7.13

	 	Permitted Transactions with Affiliates
	10.02

	 	Administrative Agent’s Office, Certain Addresses for Notices

EXHIBITS

	 	 	 
	Form of
	 
	 	 
	A

	 	Committed Loan Notice
	B

	 	Swing Line Loan Notice
	C-1

	 	Term Note
	C-2

	 	Revolving Credit Note
	D

	 	Compliance Certificate
	E-1

	 	Assignment and Assumption
	E-2

	 	Administrative Questionnaire
	F

	 	Security Agreement
	G

	 	Intercreditor Agreement

v

 

FORM OF CREDIT AGREEMENT

This CREDIT AGREEMENT (“Agreement”) is entered into as of December [__], 2010, among SWIFT
TRANSPORTATION CO., LLC, a Delaware limited liability company (the “Borrower”), SWIFT
TRANSPORTATION COMPANY (“Holdings”), the Guarantors (such term and each other capitalized
term used but not defined herein having the meaning given to it in Article I), each lender
from time to time party hereto (collectively, the “Lenders” and individually, a
“Lender”), MORGAN STANLEY SENIOR FUNDING, INC., as Syndication Agent and Collateral Agent,
WELLS FARGO BANK, NATIONAL ASSOCIATION, CITIGROUP CAPITAL MARKETS, INC. and PNC CAPITAL MARKETS
LLC, as Co-Documentation Agents, and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line
Lender and L/C Issuer.

PRELIMINARY STATEMENTS:

     The Borrower has requested that the Lenders provide a term loan facility and a revolving
credit facility, and the Lenders have indicated their willingness to lend and the L/C Issuer has
indicated its willingness to issue letters of credit, in each case, on the terms and subject to the
conditions set forth herein.

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

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

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

     “Additional Moyes Investors” means, collectively, Vickie Moyes, an individual, Jerry
and Vickie Moyes Family Trust Dated 12/11/87, an Illinois trust, Todd Moyes Trust Dated 4/27/07, an
Illinois trust, Hollie Moyes Trust Dated 4/27/07, an Illinois trust, Chris Moyes Trust Dated
4/27/07, an Illinois trust, Lyndee Moyes Nester Trust Dated 4/27/07, an Illinois trust, Marti Lyn
Moyes Trust Dated 4/27/07, an Illinois trust, and Michael J. Moyes Trust Dated 4/27/07, an Illinois
trust.

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

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

     “Administrative Questionnaire” means an Administrative Questionnaire in substantially
the form of Exhibit E-2 or any other form approved by the Administrative Agent.

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

     “Agents” means, collectively, the Administrative Agent and the Collateral Agent.

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

 

 

     “Agreement” means this Credit Agreement.

     “Applicable Fee Rate” means, at any time, in respect of the Revolving Credit Facility,
(a) from the Closing Date to the date on which the Administrative Agent receives a Compliance
Certificate pursuant to Section 6.01(c) for the Fiscal Quarter ending June 30, 2011, 0.75%
per annum and (b) thereafter, the applicable percentage per annum set forth below determined by
reference to the Consolidated Leverage Ratio as set forth in the most recent Compliance Certificate
received by the Administrative Agent pursuant to Section 6.01(c):

Applicable Fee Rate

	 	 	 	 	 	 	 
	Pricing	 	Consolidated	 	Commitment
	Level	 	Leverage Ratio	 	Fee
	1

	 	≤ ___:1
	 	 	0.50	%
	2

	 	>___:1 but < __:1
	 	 	0.625	%
	3

	 	≥ ___:1
	 	 	0.75	%

Any increase or decrease in the Applicable Fee Rate resulting from a change in the Consolidated
Leverage Ratio shall become effective as of the first Business Day immediately following the date a
Compliance Certificate is delivered pursuant to Section 6.01(c); provided,
however, that if a Compliance Certificate is not delivered when due in accordance with such
Section, then, upon the request of the Required Revolving Lenders, Pricing Level 3 shall apply as
of the first Business Day after the date on which such Compliance Certificate was required to have
been delivered and shall remain in effect until the date on which such Compliance Certificate is
delivered.

     Notwithstanding anything to the contrary contained in this definition, the determination of
the Applicable Fee Rate for any period shall be subject to the provisions of Section
2.10(b).

     “Applicable Percentage” means (a) in respect of the Term Loan Facility, with respect
to any Term Lender at any time, the percentage (carried out to the ninth decimal place) of the
Term Loan Facility represented by (i) on or prior to the Closing Date, such Term Lender’s Term
Loan Commitment at such time and (ii) thereafter, the principal amount of such Term Lender’s Term
Loans at such time, and (b) in respect of the Revolving Credit Facility, with respect to any
Revolving Credit Lender at any time, the percentage (carried out to the ninth decimal place) of the
Revolving Credit Facility represented by such Revolving Credit Lender’s Revolving Credit Commitment
at such time, subject to adjustment as provided in Section 2.14. If the commitment of each
Revolving Credit Lender to make Revolving Credit Loans and the obligation of the L/C Issuer to make
L/C Credit Extensions have been terminated pursuant to Section 8.02, or if the Revolving
Credit Commitments have expired, then the Applicable Percentage of each Revolving Credit Lender in
respect of the Revolving Credit Facility shall be determined based on the Applicable Percentage of
such Revolving Credit Lender in respect of Revolving Credit Facility most recently in effect,
giving effect to any subsequent assignments. The initial Applicable Percentage of each Lender in
respect of each Facility is set forth opposite the name of such Lender on Schedule 2.01 or
in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as
applicable.

     “Applicable Rate” means (a) in respect of the Term Loan Facility, 3.50% per annum for
Base Rate Loans and 4.50% per annum for Eurodollar Rate Loans and (b) in respect of the Revolving
Credit Facility, (i) from the Closing Date to the date on which the Administrative Agent receives a
Compliance Certificate pursuant to Section 6.01(c) for the Fiscal Quarter ending June 30,
2011, 3.50% per annum for Base Rate Loans and 4.50% per annum for Eurodollar Rate Loans and Letter
of Credit Fees and (ii) thereafter, the applicable percentage per annum set forth below determined by reference to the
Consolidated Leverage Ratio as set forth in the most recent Compliance Certificate received by the

2

 

Administrative Agent pursuant to Section 6.01(c):

Applicable Rate

	 	 	 	 	 	 	 
	 	 	 	 	Eurodollar	 	 
	 	 	 	 	Rate	 	 
	Pricing	 	Consolidated	 	(Letters of	 	 
	Level	 	Leverage Ratio	 	Credit)	 	Base Rate
	1

	 	≤ ___:1
	 	[ ]%
	 	[ ]%
	2

	 	>___:1 but <___:1
	 	[ ]%
	 	[ ]%
	3

	 	≥ ___:1
	 	[ ]%
	 	[ ]%

Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated
Leverage Ratio shall become effective as of the first Business Day immediately following the date a
Compliance Certificate is delivered pursuant to Section 6.01(c); provided,
however, that if a Compliance Certificate is not delivered when due in accordance with such
Section, then, upon the request of the Required Revolving Lenders, Pricing Level 3 shall apply in
respect of the Revolving Credit Facility as of the first Business Day after the date on which such
Compliance Certificate was required to have been delivered and in each case shall remain in effect
until the date on which such Compliance Certificate is delivered.

     Notwithstanding anything to the contrary contained in this definition, the determination of
the Applicable Rate for any period shall be subject to the provisions of Section 2.10(b).

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

     “Appropriate Lender” means, at any time, (a) with respect to either the Term Loan
Facility or the Revolving Credit Facility, a Lender that has a Commitment with respect to such
Facility or holds a Term Loan or a Revolving Credit Loan, respectively, at such time, (b) with
respect to the Letter of Credit Sublimit, (i) the L/C Issuer and (ii) if any Letters of Credit have
been issued pursuant to Section 2.03(a), the Revolving Credit Lenders and (c) with respect
to the Swing Line Sublimit, (i) the Swing Line Lender and (ii) if any Swing Line Loans are
outstanding pursuant to Section 2.04(a), the Revolving Credit Lenders.

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

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

     “Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an Eligible Assignee (with the consent of any party whose consent is required by
Section 10.06(b)), and accepted by the Administrative Agent, in substantially the form of
Exhibit E-1 or any other form approved by the Administrative Agent.

     “Attributable Indebtedness” means, on any date, (a) in respect of any Motor Vehicle
Financing, any Newly Acquired Motor Vehicle Financing or any operating lease incurred by any
Person, the present value (calculated using a discount rate equal to the rate of interest implicit
in such transaction, determined, to the extent applicable, in accordance with GAAP) of the obligation of the lessee
for net rental payments during the remaining term of the lease associated with such transaction,
including any

3

 

period for which such lease has been extended or may, at the option of the lessor, be
extended; provided, that if such transaction is a Capitalized Lease, the amount of
Indebtedness represented thereby will be determined in accordance with clause (b) of this
definition, (b) in respect of any Capitalized Lease of any Person, the capitalized amount thereof
that would appear on a balance sheet of such Person prepared as of such date in accordance with
GAAP, (c) in respect of any Synthetic Lease Obligation, the capitalized amount of the remaining
lease or similar payments under the relevant lease or other applicable agreement or instrument that
would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if
such lease or other agreement or instrument were accounted for as a Capitalized Lease and (d) all
Synthetic Debt of such Person.

     “Audited Financial Statements” means the audited (without any Impermissible
Qualification) consolidated balance sheet of Swift Corporation and its Subsidiaries for Fiscal Year
2009, and the related consolidated statements of income or operations, shareholders’ equity and
cash flows for such Fiscal Year of Swift Corporation and its Subsidiaries, including the notes
thereto.

     “Auto-Extension Letter of Credit” has the meaning specified in Section
2.03(b)(iii).

     “Availability” means, at any time, an amount equal to the Revolving Credit Commitments
at such time less the Revolving Credit Exposure at such time.

     “Availability Period” means in respect of the Revolving Credit Facility, the period
from and including the Closing Date to the earliest of (a) the Maturity Date for the Revolving
Credit Facility, (b) the date of termination of the Revolving Credit Commitments pursuant to
Section 2.06, and (c) the date of termination of the commitment of each Revolving Credit
Lender to make Revolving Credit Loans and of the obligation of the L/C Issuer to make L/C Credit
Extensions pursuant to Section 8.02.

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

     “Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a)
the Federal Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as
publicly announced from time to time by Bank of America as its “prime rate” and (c) the Eurodollar
Rate that would be calculated as of such day (or, if such day is not a Business Day, as of the next
preceding Business Day) in respect of a proposed Eurodollar Rate Loan with a one-month Interest
Period plus 1.0%; provided that in no event shall the Base Rate with respect to the
Term Loan Facility be less than 2.50%. The “prime rate” is a rate set by Bank of America based upon
various factors including Bank of America’s costs and desired return, general economic conditions
and other factors, and is used as a reference point for pricing some loans, which may be priced at,
above, or below such announced rate. Any change in such rate announced by Bank of America shall
take effect at the opening of business on the day specified in the public announcement of such
change.

     “Base Rate Loan” means a Loan that bears interest based on the Base Rate.

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

     “Borrower Materials” means any information provided by or on behalf of the Borrower
hereunder that the Administrative Agent makes available to the Lenders and the L/C Issuer by
posting such materials on the Platform.

     “Borrowing” means a Revolving Credit Borrowing, a Swing Line Borrowing or a Term Loan
Borrowing, as the context may require.

4

 

     “Business Day” means any day other than a Saturday, Sunday or other day on which
commercial banks are authorized to close under the Laws of, or are in fact closed in, the state
where the Administrative Agent’s Office is located and, if such day relates to any Eurodollar Rate
Loan, means any such day on which dealings in Dollar deposits are conducted by and between banks in
the London interbank eurodollar market.

     “Capital Expenditures” means, for any period, the aggregate amount, without
duplication, of (i) all expenditures of Holdings and its Subsidiaries for fixed or capital assets
made during such period which, in accordance with GAAP, would be classified as capital
expenditures, (ii) Capitalized Lease obligations incurred by Holdings and its Subsidiaries during
such period and (iii) the Attributable Indebtedness with respect to operating leases incurred by
Holdings and its Subsidiaries during such period; provided that the term “Capital
Expenditures” (a) shall not include expenditures made to fund the purchase price for assets
acquired as Investments (including Permitted Acquisitions) or incurred by the Person acquired in
the Permitted Acquisition prior to (but not in anticipation of) the closing of such Permitted
Acquisition and (b) for purposes of Section 7.07 shall not include expenditures (x) made in
connection with the replacement, substitution or restoration of assets to the extent financed (1)
from insurance proceeds paid on account of the loss of or damage to the assets being replaced or
restored or (2) with awards of compensation arising from the taking by eminent domain or
condemnation of the assets being replaced and (y) Capital Expenditures to replace Motor Vehicles
acquired in any Permitted Acquisition.

     “Capital Securities” means, with respect to any Person, all shares, interests,
participations or other equivalents (however designated, whether voting or non-voting) of such
Person’s capital, whether now outstanding or hereafter issued.

     “Capitalized Leases” means all leases that have been or should be, in accordance with
GAAP, recorded as capitalized leases.

     “Captive Insurance Company” means each of Mohave Transportation Insurance Company, an
Arizona corporation, Red Rock Risk Retention Group, Inc., an Arizona Corporation, each of its
subsidiaries, if any, and each other Subsidiary of Holdings formed from time to time that engages
primarily in the business of being a captive insurance subsidiary for Holdings and its
Subsidiaries.

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

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

     “Cash Equivalents” means, at any time:

     (a) any direct obligation of (or unconditionally guaranteed by) the United States or a
State thereof (or any agency or political subdivision thereof, to the extent such
obligations are supported by the full faith and credit of the United States or a State
thereof) maturing not more than one year after such time;

     (b) commercial paper maturing not more than 270 days from the date of issue, which is
issued by (i) a corporation (other than an Affiliate of any Loan Party) organized under the
laws of any State of the United States or of the District of Columbia and rated A-1 or
higher by S&P or P-1 or higher by Moody’s, or (ii) any Lender of the type described in
clause (c)(i) below (or its holding company);

     (c) any certificate of deposit, time deposit or bankers acceptance, maturing not more

5

 

than one year after its date of issuance, which is issued or accepted by any bank organized
under the laws of the United States (or any State thereof or the District of Columbia) and
which has (x) a credit rating of A2 or higher from Moody’s or A or higher from S&P and (y) a
combined capital and surplus greater than $500,000,000;

     (d) any repurchase agreement having a term of 30 days or less entered into with any
Lender or any commercial banking institution satisfying the criteria set forth in clause
(c)(i) which (i) is secured by a fully perfected security interest in any obligation of the
type described in clause (a), and (ii) has a market value at the time such repurchase
agreement is entered into of not less than 100% of the repurchase obligation of such
commercial banking institution thereunder;

     (e) shares of any money market mutual fund that (i) has substantially all of its assets
invested continuously in the types of investments referred to in clause (a) through (d)
above, (ii) has net assets of not less than $500,000,000, and (iii) has the highest rating
obtainable from either S&P or Moody’s; or

     (f) so long as the representations and warranties set forth in Section 5.14
remain true and correct, debt securities (other than of Holdings or any of its Subsidiaries
or Affiliates) that are listed on a national securities exchange or Nasdaq or freely traded
in the over-the counter market so long as (i) the amount invested in such securities does
not exceed in the aggregate $10,000,000 and (ii) such debt securities have received a rating
of A2 or higher from Moody’s and A or higher from S&P.

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

     “Cash Management Bank” means (a) on the Closing Date, any Lender or Affiliate of a
Lender that is party to a Cash Management Agreement and (b) on or after the Closing Date, any
Person that, at the time it enters into a Cash Management Agreement, is a Lender or an Affiliate of
a Lender, in each case in its capacity as a party to such Cash Management Agreement.

     “Casualty Event” means the damage, destruction or condemnation of or any taking under
power of eminent domain or by condemnation or similar proceeding of, any property of any Person or
any of its Subsidiaries.

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

     “CERCLIS” means the Comprehensive Environmental Response, Compensation and Liability
Information System maintained by the U.S. Environmental Protection Agency.

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

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

     “Change in Control” means:

6

 

     (a) the failure of Holdings to directly or indirectly own beneficially and of record on
a fully diluted basis 100% of the outstanding Capital Securities of the Borrower, such
Capital Securities to be held free and clear of all Liens (other than Liens (i) permitted
pursuant to Sections 7.03(f), (g), (h), (j) and (k)
or (ii) granted under a Loan Document or the Senior Note Documents);

     (b) the failure of the Borrower to directly or indirectly own beneficially and of
record on a fully diluted basis 100% of the outstanding Capital Securities of Swift Arizona,
such Capital Securities to be held free and clear of all Liens (other than Liens (i)
permitted pursuant to Sections 7.03(f), (g), (h), (j) and
(k) or (ii) granted under a Loan Document or the Senior Note Documents);

     (c) any Person or group (within the meaning of Sections 13(d) and 14(d) under the
Exchange Act), other than the Permitted Holders or their Affiliates, shall become the
ultimate “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act),
directly or indirectly, of Capital Securities representing more than 35% of the voting power
of the Voting Securities of Holdings on a fully diluted basis unless the Permitted Holders
and their Affiliates are in the aggregate beneficial owners of more of the total voting
power of Holdings than such other Person or group; or

     (d) the occurrence of any “Change in Control” (or similar term) under (and as defined
in) any Senior Note Document.

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

     “Closing Date Revolving Credit Lender” means any Lender that is a Revolving Credit
Lender as of the Closing Date.

     “Code” means the Internal Revenue Code of 1986.

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

     “Collateral Agent” means Morgan Stanley Senior Funding, Inc., in its capacity as
collateral agent, or any successor collateral agent.

     “Collateral Documents” means, collectively, the Security Agreement, the Intellectual
Property Security Agreements, the Mortgages, the Intercreditor Agreement, each of the mortgages,
collateral assignments, security agreements, supplements to the Security Agreement, supplements to
the Intellectual Property Security Agreements, pledge agreements or other similar agreements
delivered to the Administrative Agent pursuant to Section 6.08, and each of the other
agreements, instruments or documents that creates or purports to create a Lien in favor of the
Collateral Agent for the benefit of the Secured Parties.

     “Commitment” means a Term Loan Commitment or a Revolving Credit Commitment, as the
context may require.

     “Committed Loan Notice” means a notice of (a) a Term Loan Borrowing, (b) a Revolving
Credit Borrowing, (c) a conversion of Loans from one Type to the other, or (d) a continuation of
Eurodollar Rate

7

 

Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in
the form of Exhibit A.

     “Compliance Certificate” means a certificate duly completed and executed by a
Responsible Officer of Holdings, substantially in the form of Exhibit D hereto, together
with such changes thereto as the Administrative Agent may from time to time reasonably request for
the purpose of monitoring Holdings’ compliance with the financial covenants contained herein.

     “Consolidated EBITDA” means, at any date of determination, an amount equal to
Consolidated Net Income of Holdings and its Subsidiaries on a consolidated basis for the most
recently completed Measurement Period plus (a) the following to the extent deducted in
calculating such Consolidated Net Income (without duplication): (i) Consolidated Interest Charges,
(ii) the provision for Federal, state, local and foreign income taxes payable, (iii) depreciation
and amortization expense (including amortization of goodwill, other intangibles, Transaction
Expenses, financing fees, and related expenses), (iv) non-cash impairment charges, (v) non-cash
expenses resulting from the grant of stock and stock options and other compensation to management
personnel of Holdings and its Subsidiaries pursuant to a written incentive plan or agreement, (vi)
any expenses or charges related to any equity offering, including Transaction Expenses, or any
incurrence or refinancing, in each case after the Closing Date, of any Indebtedness permitted under
this Agreement, (vii) the amount of any one-time restructuring costs incurred in connection with
Permitted Acquisitions after the Closing Date, (viii) any losses or expenses resulting from any
Swap Termination Value, (ix) any losses attributable to non-cash mark-to-market adjustments on Swap
Contracts and (x) other non-recurring expenses reducing such Consolidated Net Income which do not
represent a cash item in such period or any future period (including without duplication any losses
with respect to the cancellation or early extinguishment of Indebtedness), in each case of or by
Holdings and its Subsidiaries for such Measurement Period and minus (b) the following to
the extent included in calculating such Consolidated Net Income (without duplication): (i)
Federal, state, local and foreign income tax credits, (ii) any income or gain resulting from Swap
Termination Value, (iii) any income or gain attributable to non-cash mark-to-market adjustments on
Swap Contracts and (iv) all non-cash items increasing Consolidated Net Income (including any income
or gain with respect to the cancellation or early extinguishment of Indebtedness), in each case of
or by Holdings and its Subsidiaries for such Measurement Period; provided that, with
respect to any calculations of Consolidated EBITDA for any Measurement Period ending on or prior to
June 30, 2011, (i) Consolidated EBITDA for the Fiscal Quarter ended March 31, 2010 shall be deemed
to be $[ ], (ii) Consolidated EBITDA for the Fiscal Quarter ended June 30, 2010 shall be deemed to
be $[ ] and (iii) Consolidated EBITDA for the Fiscal Quarter ended September 30, 2010 shall be $[
]. For the purposes of calculating Consolidated EBITDA for any Measurement Period pursuant to any
determination of the Consolidated Leverage Ratio, if during such Measurement Period Holdings or any
Subsidiary shall have (A) made a Material Acquisition, upon satisfactory review of the financial
statements of the Person, business line, unit or division acquired pursuant to such acquisition by
the independent public accountant of Holdings (it being understood that Holdings shall primarily
perform such review and the independent public accountant shall only review such matters that it
would normally review in connection with Holdings’ normal auditing and reporting procedures),
Consolidated EBITDA for such Measurement Period shall be calculated after giving pro forma effect
thereto as if such Material Acquisition occurred on the first day of such Measurement Period or (B)
made a Material Disposition, Consolidated EBITDA for such Measurement Period shall be calculated
after giving pro forma effect thereto as if such Material Disposition occurred on the first day of
such Measurement Period. For purposes of this definition, “Material Acquisition” means any
Permitted Acquisition that involves consideration (valued at fair market value) by Holdings and its
Subsidiaries in excess of $25,000,000 and “Material Disposition” means any Disposition of Capital
Securities of a Subsidiary or property constituting a business line or division, or series of
related such Dispositions, that yields gross proceeds to Holdings or any of its Subsidiaries in
excess of $25,000,000.

     “Consolidated Funded Indebtedness” means, as of any date of determination, for
Holdings and its

8

 

Subsidiaries on a consolidated basis, the sum of (a) the outstanding principal amount of all
obligations, whether current or long-term, for borrowed money (including Obligations hereunder) and
all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments
(but excluding any obligations arising under Swap Contracts), (b) all purchase money Indebtedness,
(c) all drawn amounts arising under letters of credit (including standby and commercial), bankers’
acceptances, bank guaranties, surety bonds and similar instruments, (d) all Attributable
Indebtedness (excluding amounts under clause (a) of the definition of Attributable Indebtedness),
(e) without duplication, all Guarantees with respect to outstanding Indebtedness of the types
specified in clauses (a) through (d) above of Persons other than the Borrower or any Subsidiary,
and (f) all Indebtedness of the types referred to in clauses (a) through (e) above of any
partnership or joint venture (other than a joint venture that is itself a corporation or limited
liability company) in which the Borrower or a Subsidiary is a general partner or joint venturer,
unless such Indebtedness is expressly made non-recourse to the Borrower or such Subsidiary.

     “Consolidated Interest Charges” means, for any Measurement Period, the sum, with
respect to Holdings and its Subsidiaries on a consolidated basis, of (a) all interest, premium
payments, fees, charges and related expenses in connection with borrowed money or in connection
with the deferred purchase price of assets, in each case to the extent treated as interest in
accordance with GAAP, (b) all interest paid or payable with respect to discontinued operations and
(c) the portion of rent expense under Capitalized Leases that is treated as interest in accordance
with GAAP, in each case that is either paid or required to be paid in cash during such Measurement
Period and net of interest income received or receivable during such Measurement Period, provided
there shall be excluded (i) any non-cash interest expense attributable to the movement in the mark
to market valuation of Swap Contracts or other derivative instruments pursuant to Financial
Accounting Standards Board Statement No. 133—Accounting for Derivative Instruments and Hedging
Activities” and any other applicable accounting standard and non-cash interest expense attributable
to the amortization of gains or losses resulting from the termination prior to or reasonably
contemporaneously with the Closing Date of Swap Contracts, (ii) any amortization or write-off of
financing or other debt issuance costs otherwise included therein, and (iii) any change in Swap
Termination Value (provided that there shall be included in the calculation of Consolidated
Interest Charges payments made or received under any interest rate Swap Contracts (excluding
payments from the termination of any interest rate Swap Contract)).

     “Consolidated Interest Coverage Ratio” means, as of the last day of any Fiscal
Quarter, the ratio computed for the Measurement Period ended on such day of:

     (a) Consolidated EBITDA (for all such Fiscal Quarters)

     to

     (b) the sum (for all such Fiscal Quarters) of Consolidated Interest Charges;

     provided that, with respect to (i) the Fiscal Quarter ended March 31, 2011, the
Measurement Period shall be the one Fiscal Quarter period ended on such date, (ii) the Fiscal
Quarter ended June 30, 2011, the Measurement Period shall be the two Fiscal Quarter period ended on
such date and (iii) the Fiscal Quarter ended September 30, 2011, the Measurement Period shall be
the three Fiscal Quarter period ended on such date.

     “Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a)
Consolidated Funded Indebtedness (minus the excess of (i) unrestricted cash and Cash
Equivalents of Holdings and its Subsidiaries over (ii) the aggregate amount of any outstanding
Swing Line Loans) as of such date to (b) Consolidated EBITDA of Holdings and its Subsidiaries on a
consolidated basis for the most recently completed Measurement Period.

9

 

     “Consolidated Net Income” means, at any date of determination, the net income (or
loss) of Holdings and its Subsidiaries on a consolidated basis for the most recently completed
Measurement Period; provided that Consolidated Net Income shall exclude (a) extraordinary
gains and extraordinary losses for such Measurement Period, (b) the net income of any Subsidiary
during such Measurement Period to the extent that the declaration or payment of dividends or
similar distributions by such Subsidiary of such income is not permitted by operation of the terms
of its Organization Documents or any agreement, instrument or Law applicable (it is understood that
the review and approval process of the applicable state department of insurance for dividends by
Captive Insurance Companies shall not constitute such a restriction) to such Subsidiary during such
Measurement Period, except that Holdings’ equity in any net loss of any such Subsidiary for such
Measurement Period shall be included in determining Consolidated Net Income, and (c) any income (or
loss) for such Measurement Period of any Person if such Person is not a Subsidiary, except that
Holdings’ equity in the net income of any such Person for such Measurement Period shall be included
in Consolidated Net Income up to the aggregate amount of cash actually distributed by such Person
during such Measurement Period to Holdings or a Subsidiary as a dividend or other distribution (and
in the case of a dividend or other distribution to a Subsidiary, such Subsidiary is not precluded
from further distributing such amount to Holdings as described in clause (b) of this proviso).

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

     “Control” means the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of a Person, whether through the ability to
exercise voting power, by contract or otherwise. “Controlling” and “Controlled”
have meanings correlative thereto.

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

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

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

     “Default Rate” means, with respect to any Obligations, an interest rate equal to (a)
the Base Rate plus (b) the Applicable Rate, if any, applicable to Base Rate Loans under the
Term Loan Facility plus (c) 2.00% per annum; provided, however, that (i)
with respect to a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the
interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2.00%
per annum and (ii) with respect to Letter of Credit Fees, the Default Rate shall be an interest
rate equal to the Applicable Rate plus 2.00% per annum

     “Defaulting Lender” means subject to Section 2.14(b), any Lender that, as
determined by the Administrative Agent, (a) has failed to perform any of its funding obligations
hereunder, including in respect of its Loans or participations in respect of Letters of Credit or
Swing Line Loans, within three Business Days of the date required to be funded by it hereunder, (b)
has notified the Borrower, or the Administrative Agent that it does not intend to comply with its
funding obligations or has made a public statement to that effect with respect to its funding
obligations hereunder or under other agreements in which it commits to extend credit, (c) has
failed, within three Business Days after request by the

10

 

Administrative Agent, to confirm in a manner satisfactory to the Administrative Agent that it
will comply with its funding obligations, or (d) has, or has a direct or indirect parent company
that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had a receiver,
conservator, trustee, administrator, assignee for the benefit of creditors or similar Person
charged with reorganization or liquidation of its business or a custodian appointed for it, or
(iii) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence
in any such proceeding or appointment; provided that a Lender shall not be a Defaulting Lender
solely by virtue of the ownership or acquisition of any equity interest in that Lender or any
direct or indirect parent company thereof by a Governmental Authority.

     “Disposition” or “Dispose” means any sale, transfer, lease, contribution or
other conveyance (including by way of merger) of, or the granting of options, warrants or other
rights to, any of Holdings’ or any of its Subsidiaries’ assets (including the sale, transfer or
other conveyance of accounts receivable and the sale or issuance of Capital Securities of
Subsidiaries of Holdings) to any other Person (other than to a Borrower or a Guarantor) in a single
transaction or series of transactions.

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

     “Eligible Assignee” means any Person that meets the requirements to be an assignee
under Section 10.06(b)(iii), (v) and (vi) (subject to such consents, if
any, as may be required under Section 10.06(b)(iii)).

     “Environmental Laws” means all applicable federal, state or local statutes, laws,
ordinances, codes, rules, regulations and guidelines (including consent decrees and administrative
orders) relating to public health and safety and protection of the environment.

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

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

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

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

     “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a
withdrawal by the Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of
ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2)
of ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e)
of ERISA; (c) a complete or partial withdrawal by any Loan Party or any ERISA Affiliate from a
Multiemployer Plan or notification that a Multiemployer Plan is in reorganization (as defined in
Section 4241 of ERISA); (d) the filing of a notice of intent to terminate, the treatment of a Plan
amendment as a termination under Section

11

 

4041 or 4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension
Plan or Multiemployer Plan; (e) an event or condition which constitutes grounds under Section 4042
of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan or
Multiemployer Plan; (f) the imposition of any liability under Title IV of ERISA, other than for
PBGC premiums due but not delinquent under Section 4007 of ERISA, upon any Loan Party or any ERISA
Affiliate; (g) the failure to make by its due date any required installment under Section 430(j) of
the Code with respect to any Pension Plan, the determination that any Pension Plan is, or is
expected to be, in “at risk” status (within the meaning of Section 430 of the Code or Section 303
of ERISA, or the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an
application for a waiver of the minimum funding standard with respect to any Pension Plan; or (h)
the failure to make by its due date any required contribution to a Multiemployer Plan pursuant to
Sections 431 or 432 of the Code or receipt by any Loan Party or any ERISA Affiliate of any
determination that a Multiemployer Plan is, or is expected to be, in “endangered” or “critical”
status (within the meaning of Section 432 of the Code or Section 305 of ERISA.

     “Eurodollar Rate” means, for any Interest Period with respect to a Eurodollar Rate
Loan, the rate per annum equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”),
as published by Reuters (or other commercially available source providing quotations of BBA LIBOR
as designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London
time, two Business Days prior to the commencement of such Interest Period, for Dollar deposits (for
delivery on the first day of such Interest Period) with a term equivalent to such Interest Period.
If such rate is not available at such time for any reason, then the “Eurodollar Rate” for such
Interest Period shall be the rate per annum determined by the Administrative Agent to be the rate
at which deposits in Dollars for delivery on the first day of such Interest Period in same day
funds in the approximate amount of the Eurodollar Rate Loan being made, continued or converted by
Bank of America and with a term equivalent to such Interest Period would be offered by Bank of
America’s London Branch to major banks in the London interbank eurodollar market at their request
at approximately 11:00 a.m. (London time) two Business Days prior to the commencement of such
Interest Period. In no event shall the Eurodollar Rate with respect to the Term Loan Facility be
less than 1.50% (this sentence, the “Eurodollar Rate Floor”).

     “Eurodollar Rate Floor” has the meaning specified in the defined term “Eurodollar
Rate”.

     “Eurodollar Rate Loan” means a Revolving Credit Loan or a Term Loan that bears
interest at a rate based on the Eurodollar Rate.

     “Event of Default” has the meaning specified in Section 8.01.

     “Excess Cash Flow” means, for any Fiscal Year, the excess (if any) of (a) Consolidated
EBITDA for such Fiscal Year over (b) the sum (determined without duplication for such
Fiscal Year) of (i) Consolidated Interest Charges actually paid in cash by Holdings and its
Subsidiaries, (ii) scheduled principal repayments, to the extent actually made, of Term Loans
pursuant to Section 2.07(a), scheduled repayments, to the extent actually made, of any
other Indebtedness permitted under Section 7.02 and permitted to be repaid pursuant to
Section 7.08 (including scheduled lease or other repayments in connection with any Motor
Vehicle Financing or Newly Acquired Motor Vehicle Financing) and voluntary repayments of
Indebtedness (other than the Loans) permitted under Section 7.02 and, if applicable,
permitted to be repaid pursuant to Section 7.08 (excluding, for all purposes of this clause
(ii), repayments of Revolving Credit Loans or Swing Line Loans or similar types of Indebtedness
except to the extent the Revolving Credit Commitments or similar commitments are permanently
reduced in connection with such repayments), (iii) all income Taxes actually paid in cash by
Holdings and its Subsidiaries, (iv) Capital Expenditures made in cash (exclusive of Capital
Expenditures financed with the proceeds of Indebtedness, equity issuances, casualty proceeds or
other proceeds which are not included in

12

 

Consolidated EBITDA), (v) cash consideration actually paid in respect of Permitted
Acquisitions or other capital Investments permitted under Section 7.05 (including in real
estate assets), (vi) Restricted Payments (x) permitted under Section 7.06 which are paid in
cash during such period to the extent not deducted in any determination of Excess Cash Flow for any
prior Fiscal Year or (y) estimated in good faith by Holdings to be payable in respect of such
period and (vii) Investments in any Captive Insurance Company permitted under Section
7.05(p).

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

     “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the L/C
Issuer or any other recipient of any payment to be made by or on account of any obligation of the
Borrower hereunder, (a) taxes imposed on or measured by its overall net income (however
denominated), and franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction
(or any political subdivision thereof) under the Laws of which such recipient is organized or in
which its principal office is located or, in the case of any Lender, in which its applicable
Lending Office is located or which it is otherwise doing business that is not solely in connection
with the Loan Documents, (b) any branch profits taxes imposed by the United States or any similar
tax imposed by any other jurisdiction in which the Borrower is located, (c) any backup withholding
tax that is required by the Code to be withheld from amounts payable to a Lender that has failed to
comply with clause (A) of Section 3.01(e)(ii), and (d) in the case of a Foreign Lender
(other than an assignee pursuant to a request by the Borrower under Section 10.13), any
United States withholding tax that (i) is required to be imposed on amounts payable to such Foreign
Lender pursuant to the Laws in force at the time such Foreign Lender becomes a party hereto (or
designates a new Lending Office) or (ii) is attributable to such Foreign Lender’s failure or
inability (other than as a result of a Change in Law) to comply with clause (B) of Section
3.01(e)(ii), except to the extent that such Foreign Lender (or its assignor, if any) was
entitled, at the time of designation of a new Lending Office (or assignment), to receive additional
amounts from the Borrower with respect to such withholding tax pursuant to Section
3.01(a)(ii).

     “Existing Credit Agreement” means that certain Credit Agreement, dated as of May 10,
2007, among the Borrower (f/k/a Swift Transportation Co., Inc., a Nevada corporation), Swift
Arizona (f/k/a Swift Transportation Co., Inc., an Arizona corporation) party thereto, Swift
Corporation (f/k/a Saint Corporation), as guarantor, Morgan Stanley Senior Funding, Inc., as the
administrative agent, and the other agents and lenders from time to time parties thereto.

     “Existing Letter[s] of Credit” means [ ].

     “Existing Notes Indentures” means, collectively, (i) the Indenture, dated as of May
10, 2007, between the Borrower, U.S. Bank National Association, as trustee, and the guarantors
named therein, pursuant to which the Floating Rate Notes have been issued and (ii) the Indenture,
dated as May 10, 2007, between the Borrower, U.S. Bank National Association, as trustee, and the
guarantors named therein, pursuant to which the Fixed Rate Notes have been issued.

     “Facility” means the Term Loan Facility or the Revolving Credit Facility, as the
context may require.

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

13

 

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

     “Fee Letters” means (a) the letter agreement, dated November 30, 2010, among Holdings,
the Borrower, Bank of America, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan
Stanley Senior Funding, Inc., Wells Fargo Securities, LLC and Wells Fargo Bank, National
Association and (b) the letter agreement, dated November [ ], 2010, among Holdings, the Borrower
and the Administrative Agent.

     “Filing Statement” means all UCC financing statements or other similar financing
statements and UCC (Form UCC-3) termination statements required pursuant to the Loan Documents.

     “Fiscal Quarter” means a quarter ending on the last day of March, June, September or
December.

     “Fiscal Year” means any period of twelve consecutive calendar months ending on
December 31; references to a Fiscal Year with a number corresponding to any calendar year (e.g.,
the “2010 Fiscal Year”) refer to the Fiscal Year ending on December 31 of such calendar year.

     “Fixed Rate Notes” means those certain second-priority senior secured fixed rate notes
issued pursuant to that certain Indenture described in clause (ii) of the definition of “Existing
Notes Indentures”.

     “Floating Rate Notes” means those certain second-priority senior secured floating rate
notes issued pursuant to that certain Indenture described in clause (i) of the definition of
“Existing Notes Indentures”.

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

     “Foreign Subsidiary” means any Subsidiary that is not a U.S. Subsidiary (including,
but not limited to, any Subsidiary organized under the laws of Puerto Rico).

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

     “Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect
to the L/C Issuer, such Defaulting Lender’s Applicable Percentage of the outstanding L/C
Obligations other than L/C Obligations as to which such Defaulting Lender’s participation
obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the
terms hereof, and (b) with respect to the Swing Line Lender, such Defaulting Lender’s Applicable
Percentage of Swing Line Loans other than Swing Line Loans as to which such Defaulting Lender’s
participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance
with the terms hereof.

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

     “GAAP” means generally accepted accounting principles in the United States set forth
in the opinions and pronouncements of the Accounting Principles Board and the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial Accounting
Standards Board or

14

 

such other principles as may be approved by a significant segment of the accounting profession
in the United States, that are applicable to the circumstances as of the date of determination,
consistently applied.

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

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

     “Guarantors” means, collectively, Holdings, the Subsidiaries of Holdings listed on
Schedule 5.08 and each other Subsidiary of Holdings that shall be required to execute and
deliver a supplement to the Security Agreement as a “guarantor” thereunder pursuant to Section
6.08.

     “Guaranty” means, collectively, the Guarantee made by the Guarantors in favor of the
Secured Parties pursuant to Article II of the Security Agreement.

     “Hazardous Materials” means (a) any “hazardous substance”, as defined by CERCLA, (b)
any “hazardous waste”, as defined by the Resource Conservation and Recovery Act, as amended, or (c)
any pollutant or contaminant or hazardous, dangerous or toxic chemical, material or substance
(including any petroleum product) within the meaning of any other applicable federal, state or
local law, regulation, ordinance or requirement (including consent decrees and administrative
orders) relating to or imposing liability or standards of conduct concerning any hazardous, toxic
or dangerous waste, substance or material, all as amended.

     “Hedge Bank” means any Person that, at the time it enters into a Swap Contract
required or permitted under Article VI or VII, is a Lender or an Affiliate of a
Lender, in its capacity as a party to such Swap Contract.

     “Hedging Obligations” means, with respect to any Person, all liabilities of such
Person under any Secured Hedge Agreement.

15

 

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

     “IEL” means Interstate Equipment Leasing, LLC.

     “Immaterial Subsidiary” means, at any date of determination, any Subsidiary of
Holdings (other than the Borrower) that (i) does not, as of the most recently ended Measurement
Period, have total assets with a value in excess of 5% of the consolidated total assets of Holdings
and its Subsidiaries for such date and (ii) did not, during the most recently ended Measurement
Period, have gross revenues exceeding 5% of the consolidated gross revenues of Holdings and its
Subsidiaries, in each case determined in accordance with GAAP; provided that, the
aggregate total assets or gross revenues of all Immaterial Subsidiaries, determined in accordance
with GAAP, may not exceed 10% of consolidated total assets or consolidated gross revenues,
respectively, of Holdings and its Subsidiaries, collectively, at any time (and the Borrowers will
designate in writing to the Administrative Agent from time to time the Subsidiaries which will
cease to be treated as “Immaterial Subsidiaries” in order to comply with the foregoing limitation).

     “Impermissible Qualification” means any qualification, explanatory note or exception
to the opinion or certification of any independent public accountant as to any financial statement
delivered hereunder (i) which is of a “going concern” or similar nature, (ii) which relates to the
limited scope of examination of matters relevant to such financial statement, or (iii) which
relates to the treatment or classification of any item in such financial statement and which, as a
condition to its removal, would require an adjustment to such item the effect of which would be to
cause the Person delivering such financial statement to be in Default.

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

     (a) all obligations of such Person for borrowed money and all obligations of such
Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments;

     (b) the maximum amount of all direct or contingent obligations of such Person arising
under letters of credit (including standby and commercial), bankers’ acceptances, bank
guaranties, surety bonds and similar instruments;

     (c) net obligations of such Person under any Swap Contract;

     (d) all obligations of such Person to pay the deferred purchase price of property or
services (other than trade accounts payable in the ordinary course of business and not past
due for more than 90 days after the date on which such trade account was created or, if past
due for more than 90 days, as to which a dispute exists and adequate reserves in conformity
with GAAP have been established on the books of such Person);

     (e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property
owned or being purchased by such Person (including indebtedness arising under conditional
sales or other title retention agreements), whether or not such indebtedness shall have been
assumed by such Person or is limited in recourse;

     (f) all Attributable Indebtedness in respect of Motor Vehicle Financings, Newly
Acquired Motor Vehicle Financings, Capitalized Leases and Synthetic Lease Obligations of
such Person and all Synthetic Debt of such Person;

16

 

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

     (h) all Guarantees of such Person in respect of any of the foregoing.

     For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any
partnership or joint venture (other than a joint venture that is itself a corporation or limited
liability company) in which such Person is a general partner or a joint venturer, unless such
Indebtedness is expressly made non-recourse to such Person. The amount of any net obligation under
any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such
date.

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

     “Indemnitee” has the meaning specified in Section 10.04(b).

     “Information” has the meaning specified in Section 10.07.

     “Intellectual Property” has the meaning specified in the Security Agreement.

     “Intellectual Property Security Agreements” has the meaning specified in the Security
Agreement.

     “Interco Subordination Agreement” means a subordination agreement, in form and
substance reasonably satisfactory to the Administrative Agent, executed and delivered by two or
more Loan Parties pursuant to the terms of this Agreement.

     “Intercreditor Agreement” has the meaning specified in Section 4.01(a)(iv).

     “Interest Payment Date” means, (a) as to any Eurodollar Rate Loan, the last day of
each Interest Period applicable to such Loan and the Maturity Date of the Facility under which such
Loan was made; provided, however, that if any Interest Period for a Eurodollar Rate
Loan exceeds three months, the respective dates that fall every three months after the beginning of
such Interest Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan or
Swing Line Loan, the last Business Day of each March, June, September and December and the Maturity
Date of the Facility under which such Loan was made (with Swing Line Loans being deemed made under
the Revolving Credit Facility for purposes of this definition).

     “Interest Period” means, as to each Eurodollar Rate Loan, the period commencing on the
date such Eurodollar Rate Loan is disbursed or converted to or continued as a Eurodollar Rate Loan
and ending on the date one, two, three or six months thereafter, as selected by the Borrower in its
Committed Loan Notice or such other period that is twelve months or less requested by the Borrower
and consented to by all the Appropriate Lenders; provided that:

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

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

17

 

     such Interest Period) shall end on the last Business Day of the calendar month at the
end of such Interest Period; and

     (c) no Interest Period shall extend beyond the Maturity Date of the Facility under
which such Loan was made.

     “Investment” means, relative to any Person, (i) any loan, advance or extension of
credit made by such Person to any other Person, including the purchase by such Person of any bonds,
notes, debentures or other debt securities of any other Person, (ii) Guarantees in favor of any
other Person, and (iii) any Capital Securities held by such Person in any other Person. The amount
of any Investment shall be the original principal or capital amount thereof less all returns of
principal or equity thereon and shall, if made by the transfer or exchange of property other than
cash, be deemed to have been made in an original principal or capital amount equal to the fair
market value of such property at the time of such Investment.

     “IPO Proceeds” has the meaning specified in Section 4.01(g).

     “IRS” means the United States Internal Revenue Service.

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

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

     “Joint Lead Arrangers” means Merrill Lynch, Pierce, Fenner & Smith Incorporated,
Morgan Stanley Senior Funding, Inc., Wells Fargo Securities, LLC, Citigroup Capital Markets, Inc.
and PNC Capital Markets LLC, in their capacities as joint lead arrangers and joint bookrunners.

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

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

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

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

     “L/C Exposure”: means, at any time, the Outstanding Amount with respect to L/C
Obligations. The L/C Exposure of any Lender at any time shall be its Applicable Revolving Credit
Percentage of the total L/C Exposure at such time.

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     “L/C Issuer” means Bank of America in its capacity as issuer of Letters of Credit
hereunder, or any successor issuer of Letters of Credit hereunder.

     “L/C Obligations” means, as at any date of determination, the aggregate amount
available to be drawn under all outstanding Letters of Credit plus the aggregate of all
Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available
to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in
accordance with Section 1.06. For all purposes of this Agreement, if on any date of
determination a Letter of Credit has expired by its terms but any amount may still be drawn
thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be
deemed to be “outstanding” in the amount so remaining available to be drawn.

     “Lender” has the meaning specified in the introductory paragraph hereto and, as the
context requires, includes the Swing Line Lender.

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

     “Letter of Credit” means any standby letter of credit issued hereunder and shall
include the Existing Letters of Credit.

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

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

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

     “Letter of Credit Sublimit” means an amount equal to $300,000,000. The Letter of
Credit Sublimit is part of, and not in addition to, the Revolving Credit Facility.

     “Lien” means any security interest, mortgage, pledge, hypothecation, assignment,
deposit arrangement, encumbrance, lien (statutory or otherwise), charge against or interest in
property, or other priority or preferential arrangement of any kind or nature whatsoever, to secure
payment of a debt or performance of an obligation.

     “LKE Program” means that certain program established by Holdings, the Borrower and its
Subsidiaries (or any replacement program) for the disposition and exchange of trucks, trailers and
other transportation assets, including terminals, in exchanges intended to qualify as “like-kind
exchanges” under Section 1031 of the Code with Chicago Deferred Exchange Corporation or any other
qualified institution acting as the “qualified intermediary” (as defined under Section 1031 of the
Code or the Treasury Regulations promulgated thereunder) for such exchanges.

     “Loan” means a Term Loan, a Revolving Credit Loan or a Swing Line Loan.

     “Loan Documents” means, collectively, (a) this Agreement, (b) the Notes, (c) the
Letters of Credit, (d) the Collateral Documents, (e) the Fee Letters and (f) each other agreement,
certificate, document or instrument delivered in connection with any of the foregoing, whether or
not specifically mentioned herein or therein.

19

 

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

     “Material Adverse Effect” means (a) a material adverse change in, or a material
adverse effect upon, the operations, business, financial condition, performance or properties of
Holdings and its Subsidiaries taken as a whole; (b) a material impairment of the rights and
remedies of the Administrative Agent or any Lender under any Loan Document to which it is a party,
or of the ability of any Loan Party (other than an Immaterial Subsidiary) to perform its
obligations under any Loan Document to which it is a party; or (c) a material adverse effect upon
the legality, validity, binding effect or enforceability against any Loan Party (other than an
Immaterial Subsidiary) of any Loan Document to which it is a party.

     “Material Subsidiary” means a Subsidiary that is not an Immaterial Subsidiary.

     “Maturity Date” means (a) with respect to the Revolving Credit Facility, [ ], 2015
and (b) with respect to the Term Loan Facility, [ ], 2016; provided that if more than
$50,000,000 of the Floating Rate Notes remain outstanding on February 12, 2015, the Maturity Date
for each of the Revolving Credit Facility and the Term Loan Facility shall be February 12, 2015;
provided, further, that, in each case, if such date is not a Business Day, the
Maturity Date shall be the next preceding Business Day.

     “Maximum Capital Expenditures Amount” has the meaning specified in Section
7.07.

     “Measurement Period” means, at any date of determination, the most recently completed
four Fiscal Quarters of Holdings or, if fewer than four consecutive Fiscal Quarters of Holdings
have been completed since the Closing Date, the Fiscal Quarters of Holdings that have been
completed since the Closing Date.

     “Minimum Notes Proceeds” has the meaning specified in Section 4.01(h).

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

     “Mortgage” means each mortgage, deed of trust or agreement executed and delivered by
any Loan Party in favor of the Administrative Agent for the benefit of the Secured Parties pursuant
to the requirements of this Agreement in form and substance reasonably satisfactory to the
Administrative Agent, under which a Lien is granted on the real property and fixtures described
therein, in each case as amended, supplemented, amended and restated or otherwise modified from
time to time.

     “Mortgaged Property” means each parcel of real property identified as “Mortgaged
Property” on Schedule 5.09 and any other parcel of real property hereafter acquired by any Loan
Party in the United States substantially similar to such “Mortgaged Properties” listed on
Schedule 5.09 that the Administrative Agent reasonably determines is material to the
business of Holdings and its Subsidiaries.

     “Motor Vehicle Monitor” means [VinTek], in its capacity as monitor of the certificates
of motor vehicle title held by Holdings and its Subsidiaries, or any successor thereto appointed by
the Collateral Agent and reasonably acceptable to the Borrower and the Administrative Agent.

     “Motor Vehicles” means motor vehicles, trailers, containers and related equipment
owned or leased by any Subsidiary of Holdings.

     “Motor Vehicle Financing” means a secured debt financing (whether in the form of a
secured financing, a sale and leaseback transaction, a Capitalized Lease or otherwise) to be
entered into by one or more North American Subsidiaries of the Borrower collateralized by specified
owned Motor Vehicles and related assets, which financing may include (i) one or more tranches of
secured debt financings and/or

20

 

sale and leasebacks of Motor Vehicles, and (ii) one or more put options exercisable by such
North American Subsidiary that would require the lender thereunder to purchase specified Motor
Vehicles at certain times and agreed upon prices and to lease back such Motor Vehicles to such
North American Subsidiary at certain agreed upon rental prices and lease terms; provided
that a Newly Acquired Motor Vehicle Financing shall not be a Motor Vehicle Financing.

     “Motor Vehicle Title Office” has the meaning specified in the Security Agreement.

     “Mr. Moyes” means Jerry Moyes, an individual.

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

     “Net Cash Proceeds” means:

     (a) with respect to any Disposition by any Loan Party or any of its Subsidiaries of
Motor Vehicles or pursuant to Section 7.11(c), the sale and leaseback of any real
property pursuant to Section 7.15(c) or the proceeds of any Casualty Event received
or paid to the account of any Loan Party or any of its Subsidiaries, the excess, if any, of
(i) the sum of cash and Cash Equivalents received in connection with such transaction
(including any cash or Cash Equivalents received by way of deferred payment pursuant to, or
by monetization of, a note receivable or otherwise, but only as and when so received) over
(ii) the sum of (A) the amount of any Indebtedness (including any fees, premium or penalty)
that is secured by the applicable asset and that is required to be repaid in connection with
such transaction (other than Indebtedness under the Loan Documents), (B) the reasonable and
customary out-of-pocket expenses incurred by such Loan Party or such Subsidiary in
connection with such transaction, (C) income and sales taxes reasonably estimated to be
actually payable by such Loan Party or such Subsidiary within two years of the date of the
relevant transaction as a result of any gain recognized in connection therewith;
provided that, if the amount of any estimated taxes pursuant to subclause (C)
exceeds the amount of taxes actually required to be paid in cash in respect of such
Disposition, the aggregate amount of such excess shall constitute Net Cash Proceeds, (D)
with respect to a Casualty Event, any actual and reasonable costs incurred by such Loan
Party or such Subsidiary in connection with the adjustment or settlement of any claims of
such Loan Party or such Subsidiary in respect thereof and (E) with respect to any
Disposition, the amount of any reserve established by such Loan Party or such Subsidiary to
fund contingent liabilities reasonably estimated to be payable and that are directly
attributable to such event, provided that upon any termination of any such reserve,
all amounts not paid out in connection therewith shall be deemed to be “Net Cash Proceeds”
of such Disposition;

     (b) with respect to the sale or issuance of any Capital Securities by any Loan Party or
any of its Subsidiaries, the excess of (i) the sum of the cash and Cash Equivalents received
in connection with such transaction over (ii) the underwriting discounts and commissions,
and other reasonable and customary out-of-pocket expenses, incurred by such Loan Party or
such Subsidiary in connection therewith; and

     (c) with respect to any Qualified Receivables Transaction or Motor Vehicle Financing,
the excess of (i) the sum of the cash and Cash Equivalents received in connection with such
transaction over (ii) the investment banking brokerage, sales commission expenses, and other
reasonable and customary out-of pocket expenses incurred by such Loan Party or such
Subsidiary in connection therewith.

     “Newly Acquired Motor Vehicle Financing” means (a) any incurrence of Indebtedness
permitted

21

 

under Section 7.02(e) secured by, or in the form of a purchase money obligation or a
Capitalized Lease in respect of, a Motor Vehicle purchased within 180 days of such incurrence of
Indebtedness (other than any such Motor Vehicle purchased during the continuance of an Event of
Default), (b) any sale and leaseback of a Motor Vehicle purchased within 180 days of such sale and
leaseback (other than any such Motor Vehicle purchased during the continuance of an Event of
Default) and (c) any entering by Holdings or any Subsidiary into any operating lease, as a lessee
thereunder, with respect to the leasing of a Motor Vehicle.

     “Non-Extension Notice Date” has the meaning specified in Section 2.03(b)(iii).

     “North American Subsidiary” means any U.S. Subsidiary and any other Subsidiary that is
incorporated or organized under the laws of Canada or Mexico or any province thereof.

     “Note” means a Term Note or a Revolving Credit Note, as the context may require.

     “Obligations” means all advances to, and debts, liabilities, obligations, covenants
and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any
Loan, Letter of Credit, Secured Cash Management Agreement or Secured Hedge Agreement, in each case
whether direct or indirect (including those acquired by assumption), absolute or contingent, due or
to become due, now existing or hereafter arising and including interest and fees that accrue after
the commencement by or against any Loan Party thereof of any proceeding under any Debtor Relief
Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and
fees are allowed claims in such proceeding.

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

     “Other Taxes” means all present or future stamp or documentary taxes or any other
excise or property taxes, charges or similar levies arising from any payment made hereunder or
under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with
respect to, this Agreement or any other Loan Document.

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

     “Participant” has the meaning specified in Section 10.06(d).

     “PBGC” means the Pension Benefit Guaranty Corporation.

22

 

     “Pension Plan” means a “pension plan,” as such term is defined in Section 3(2) of
ERISA, which is subject to Section 412 of the Code or Section 302 of ERISA or Title IV of ERISA
(other than a Multiemployer Plan), to which a Loan Party or any ERISA Affiliate may have liability,
including any liability by reason of having been a substantial employer within the meaning of
Section 4063 of ERISA at any time during the preceding five years, or by reason of being deemed to
be a contributing sponsor under Section 4069 of ERISA.

     “Permitted Acquisition” means an acquisition (whether pursuant to an acquisition of
Capital Securities, assets or otherwise) by any Subsidiary of Holdings from any Person of all or
substantially all of the assets of, all of the Capital Securities (or the offer or tender to
purchase all of such Capital Securities) of a Person, or a business line or unit or division of any
Person in which the following conditions are satisfied:

     (a) immediately before and after giving effect to such acquisition no Default shall
have occurred and be continuing or would result therefrom (including under Section
6.08 and Section 7.01); and

     (b) after giving pro forma effect to the consummation of such acquisition, Holdings and
its Subsidiaries are in compliance with the covenants set forth in Section 7.04 for
the period of four full Fiscal Quarters of Holdings ended immediately preceding such
acquisition and, with respect to any Permitted Acquisition for which the consideration
(valued at fair market value) is in excess of $25,000,000, Holdings shall have delivered to
the Administrative Agent a Compliance Certificate for such period (prepared in good faith
and in a manner and using such methodology which is consistent with the most recent
financial statements delivered pursuant to Section 6.01) evidencing such compliance.

     “Permitted Holders” means, collectively, Mr. Moyes and the Additional Moyes Investors.

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

     “Platform” means IntraLinks or another similar electronic system.

     “Public Lender” means a Lender with personnel who do not wish to receive material
non-public information with respect to Holdings or its Affiliates, or the respective securities of
any of the foregoing, and who may be engaged in investment and other market-related activities with
respect to such Persons’ securities.

     “Public Offering” means a public offering and sale of the Capital Securities of
Holdings or any of its Subsidiaries pursuant to a prospectus, registration statement or similar
document under the Securities Act of 1933, as amended.

     “Qualified Receivables Transaction” means (i) any Securitization Transaction of a
Receivables Subsidiary that meets the following conditions:

     (a) the Board of Directors of Holdings (or the board of directors or members of any
Subsidiary which is the direct parent of such Receivables Subsidiary) shall have determined
in good faith that such Qualified Receivables Transaction (including financing terms,
covenants, termination events and other provisions) is in the aggregate economically fair
and reasonable to Holdings and the Receivables Subsidiary;

23

 

     (b) all sales of Receivables Assets to the Receivables Subsidiary are made at fair
market value (as determined in good faith by Holdings or such direct parent);

     (c) the financing terms, covenants, termination events and other provisions thereof
shall be market terms (as determined in good faith by Holdings or such direct parent) and
may include Standard Securitization Undertakings;

     (d) no Default shall have occurred and be continuing or would result therefrom; and

     (e) the proceeds pursuant to such Qualified Receivables Transaction are applied, if
required, in accordance with Section 2.05(b); or

     (ii) to the extent a Securitization Transaction as described above is economically or
practically unfeasible (determined in the reasonable discretion of the Borrower) any other
transaction, including a secured loan, in which (A) Receivables Assets are the sole recourse
for such loan (it being understood that, for the avoidance of doubt, there shall be no
recourse to Holdings or any other Loan Party, although the provisions of such transaction
may include Standard Securitization Undertakings), (B) any excess Receivables Assets are
pledged to secure the Obligations, and (C) the proceeds of such transaction are applied, if
required, under Section 2.05(b) as if such transaction were a Qualified Receivables
Transaction.

     “Quarterly Payment Date” means the last day of March, June, September and December,
or, if any such day is not a Business Day, the next succeeding Business Day.

     “Receivables Assets” means a right of a Person to receive payment arising from a sale
or lease of goods or the performance of services by such Person pursuant to an arrangement with
another Person pursuant to which such other Person is obligated to pay for such goods or services
under terms that permit the purchase of such goods and services on credit and shall include, in any
event, any items of property that would be classified as an “account,” “chattel paper,” “payment
intangible” or “instrument” under the UCC and any supporting obligations and any assets related
thereto which are customarily transferred, or in respect of which security interests are
customarily granted, in connection with an asset securitization transactions involving receivables,
in each case so as long as the documentation in connection therewith is reasonably satisfactory to
the Administrative Agent.

     “Receivables Subsidiary” means Swift Receivables and any other direct or indirect
wholly owned Subsidiary of Holdings that (i) is a special purpose entity engaged in Qualified
Receivables Transactions, (ii) engages in no activities other than in connection with the
purchase, sale or financing of Receivables Assets and any business or activities reasonably
incidental or related thereto, (iii) is designated by the board of directors of Holdings as a
Receivables Subsidiary and (iv) meets the following conditions:

     (a) no portion of the Indebtedness or any other obligations (contingent or otherwise)
of such Receivables Subsidiary (i) is Guaranteed by Holdings or any of its Subsidiaries,
(ii) is recourse to or obligates Holdings or any of its Subsidiaries or (iii) subjects any
property or assets of Holdings or any of its Subsidiaries, directly or indirectly,
contingently or otherwise, to the satisfaction thereof;

     (b) with which neither Holdings nor any of its Subsidiaries has any material contract,
agreement, arrangement or understanding (other than Standard Securitization Undertakings);
and

     (c) to which neither Holdings nor any of its Subsidiaries has any obligation to

24

 

maintain or preserve such entity’s financial condition or cause such entity to
achieve certain levels of operating results.

     Any such designation by the board of directors of Holdings shall be evidenced by a certified
copy of the resolution of the board of directors of Holdings giving effect to such designation and
an officers certificate certifying that such designation complies with the foregoing conditions.

     “Reduction Amount” has the meaning set forth in Section 2.05(b)(vii).

     “Register” has the meaning specified in Section 10.06(c).

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

     “Release” means a “release”, as such term is defined in CERCLA.

     “Repayment Percentage” means 50%; provided that the Repayment Percentage shall
be (i) 25% if the Consolidated Leverage Ratio at the end of the applicable Fiscal Year is less
than 2.50:1 but greater than or equal to 2.00:1 and (ii) 0% if such Consolidated Leverage Ratio is
less than 2.00:1.

     “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA,
other than events for which the 30 day notice period has been waived pursuant to DOL Reg. Section
4043 as in effect on the date hereof (no matter how such notice requirement may be changed in the
future).

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

     “Required Lenders” means, as of any date of determination, Lenders holding more than
50% of the sum of the (a) Total Outstandings (with the aggregate amount of each Revolving Credit
Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being
deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate
unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment
of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall
be excluded for purposes of making a determination of Required Lenders.

     “Required Revolving Lenders” means, as of any date of determination, Revolving Credit
Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the
aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in
L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for
purposes of this definition) and (b) aggregate unused Revolving Credit Commitments;
provided that the unused Revolving Credit Commitment of, and the portion of the Total
Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for
purposes of making a determination of Required Revolving Lenders.

     “Required Term Lenders” means, as of any date of determination, Term Lenders holding
more than 50% of the Term Loan Facility on such date.

     “Responsible Officer” means, as to any Loan Party, those of its officers, general
partners or

25

 

managing members (as applicable) whose signatures and incumbency shall have been certified to
the Administrative Agent, the Lenders and the L/C Issuer pursuant to Section 4.01(a)(vi).
Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be
conclusively presumed to have been authorized by all necessary corporate, partnership and/or other
action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed
to have acted on behalf of such Loan Party.

     “Restricted Payment” means (i) the declaration or payment of any dividend on, or the
making of any payment or distribution on account of, or setting apart assets for a sinking or other
analogous fund for the purchase, redemption, defeasance, retirement or other acquisition of, any
class of Capital Securities of the Borrower or any other Subsidiary or any warrants, options or
other right or obligation to purchase or acquire any such Capital Securities, whether now or
hereafter outstanding, or (ii) the making of any other distribution in respect of such Capital
Securities, in each case either directly or indirectly, whether in cash, property or obligations of
the Borrower or any other Subsidiary or otherwise (in the case of clause (i) and (ii) above, other
than dividends or distributions payable solely in common stock of Holdings or any Subsidiary).

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

     “Revolving Credit Commitment” means, as to each Revolving Credit Lender, its
obligation to (a) make Revolving Credit Loans to the Borrower pursuant to Section 2.01(b),
(b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line
Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set
forth opposite such Lender’s name on Schedule 2.01 under the caption “Revolving Credit
Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender
becomes a party hereto, as applicable, as such amount may be adjusted from time to time in
accordance with this Agreement. On the Closing Date, the aggregate amount of Revolving Credit
Commitments is $400,000,000.

     “Revolving Credit Exposure” means, with respect to any Lender at any time, the
aggregate principal amount at such time of all outstanding Revolving Credit Loans of such Lender,
plus the aggregate amount at such time of such Lender’s L/C Exposure, plus the
aggregate amount at such time of such Lender’s Swing Line Exposure.

     “Revolving Credit Facility” means, at any time, the aggregate amount of the Revolving
Credit Lenders’ Revolving Credit Commitments at such time.

     “Revolving Credit Lender” means, at any time, any Lender that has a Revolving Credit
Commitment at such time.

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

     “Revolving Credit Note” means a promissory note made by the Borrower in favor of a
Revolving Credit Lender evidencing Revolving Credit Loans or Swing Line Loans, as the case may be,
made by such Revolving Credit Lender, substantially in the form of Exhibit C-2.

     “S&P” means Standard & Poor’s Financial Services LLC, and any successor thereto.

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

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     “Secured Cash Management Agreement” means any Cash Management Agreement that is
entered into by and between any Loan Party and any Cash Management Bank.

     “Secured Hedge Agreement” means any Swap Contract required or permitted under
Article VI or VII that is entered into by and between any Loan Party and any Hedge
Bank.

     “Secured Parties” means, collectively, the Administrative Agent, the Collateral Agent,
the Lenders, the L/C Issuer, the Hedge Banks, the Cash Management Banks, each co-agent or sub-agent
appointed by the Administrative Agent from time to time pursuant to Section 9.05, and the
other Persons the Obligations owing to which are or are purported to be secured by the Collateral
under the terms of the Collateral Documents, and each of their respective successors, transferees
and assigns.

     “Securitization Transactions” means any transaction or series of transactions entered
into by Holdings or any of its Subsidiaries pursuant to which any Person issues interests, the
proceeds of which are used to finance a discrete pool of Receivables Assets (in each case whether
now existing or arising in the future), and which may include a grant of a security interest in any
such Receivables Assets (whether now existing or arising in the future) of Holdings or any of its
Subsidiaries.

     “Security Agreement” has the meaning specified in Section 4.01(a)(iii).

     “Senior Notes” means the second-priority senior secured notes issued under the Senior
Notes Indenture.

     “Senior Note Documents” means the Senior Notes, the Senior Note Indenture and all
other agreements, documents and instruments executed and delivered with respect to the Senior Notes
or the Senior Note Indenture, as the same may be amended, supplemented, amended and restated or
otherwise modified from time to time in accordance with this Agreement and the Senior Note
Indenture.

     “Senior Note Indenture” means [ ].

     “Shareholder Loans” means that certain loan, made as of May 10, 2007, by the Borrower
to the Permitted Holders and that certain indebtedness owed to IEL from Swift Motor Sports, Inc.,
made as of March 1, 2002, as amended and restated effective October 10, 2006.

     “Solvent” and “Solvency” mean, with respect to any Person and its Subsidiaries
on any date of determination, that on such date (a) the fair value of the property of such Person
and its Subsidiaries on a consolidated basis is greater than the total amount of liabilities,
including contingent liabilities, of such Person and its Subsidiaries on a consolidated basis, (b)
the present fair salable value of the assets of such Person and its Subsidiaries on a consolidated
basis is not less than the amount that will be required to pay the probable liability of such
Person and its Subsidiaries on a consolidated basis on its debts as they become absolute and
matured, (c) such Person does not intend to, and does not believe that it or its Subsidiaries will,
incur debts or liabilities beyond the ability of such Person and its Subsidiaries to pay such
debts and liabilities as they mature and (d) such Person and its Subsidiaries on a consolidated
basis is not engaged in business or a transaction, and such Person and its Subsidiaries on a
consolidated basis is not about to engage in business or a transaction, for which the property of
such Person and its Subsidiaries on a consolidated basis would constitute an unreasonably small
capital. The amount of contingent liabilities at any time shall be computed as the amount that, in
the light of all the facts and circumstances existing at such time, represents the amount that can
reasonably be expected to become an actual or matured liability.

     “Standard Securitization Undertakings” means representations, warranties, covenants
and

27

 

indemnities entered into by Holdings or any of its Subsidiaries which are reasonably customary
(as determined in good faith by Holdings) in a securitization of Receivables Assets.

     “Subsidiary” of a Person means a corporation, partnership, joint venture, limited
liability company or other business entity of which a majority of the shares of securities or other
interests having ordinary voting power for the election of directors or other governing body (other
than securities or interests having such power only by reason of the happening of a contingency)
are at the time beneficially owned, or the management of which is otherwise controlled, directly,
or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise
specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer
to a Subsidiary or Subsidiaries of Holdings and shall, for the avoidance of doubt, include IEL.

     “Subsidiary Guarantor” means each Subsidiary (other than the Borrower) that is a Loan
Party.

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

     “Swap Termination Value” means, in respect of any one or more Swap Contracts, after
taking into account the effect of any legally enforceable netting agreement relating to such Swap
Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and
termination value(s) determined in accordance therewith, such termination value(s), and (b) for any
date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market
value(s) for such Swap Contracts, as determined [in accordance with GAAP].

     “Swift Academy” means Swift Academy LLC and each of its Subsidiaries, if any.

     “Swift Arizona” means Swift Transportation Co. of Arizona, LLC, a Delaware limited
liability company.

     “Swift Receivables” means Swift Receivables Company II, LLC, a Delaware limited
liability company.

     “Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to Section
2.04.

     “Swing Line Exposure” means, at any time, the Outstanding Amount of Swing Line Loans.
The Swing Line Exposure of any Lender at any time shall be its Applicable Revolving Credit
Percentage of the total Swing Line Exposure at such time.

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

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

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

     “Swing Line Sublimit” means an amount equal to the lesser of (a) $25,000,000 and (b)
the Revolving Credit Facility. The Swing Line Sublimit is part of, and not in addition to, the
Revolving Credit Facility.

     “Syndication Agent” means Morgan Stanley Senior Funding, Inc., in its capacity as
syndication agent, or any successor syndication agent.

     “Synthetic Debt” means, with respect to any Person as of any date of determination
thereof, all obligations of such Person in respect of transactions entered into by such Person that
are intended to function primarily as a borrowing of funds [(including any minority interest
transactions that function primarily as a borrowing)] but are not otherwise included in the
definition of “Indebtedness” or as a liability on the consolidated balance sheet of such
Person and its Subsidiaries in accordance with GAAP.

     “Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a
so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or
possession of property (including sale and leaseback transactions), in each case, creating
obligations that do not appear on the balance sheet of such Person but which, upon the application
of any Debtor Relief Laws to such Person, would be characterized as the indebtedness of such Person
(without regard to accounting treatment).

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

     “Term Lender” means (a) at any time on or prior to the Closing Date, any Lender that
has a Term Loan Commitment at such time and (b) at any time after the Closing Date, any Lender that
holds Term Loans at such time.

     “Term Loan” means an advance made by any Term Lender under the Term Loan Facility.

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

     “Term Loan Commitment” means, as to each Term Lender, its obligation to make Term
Loans to the Borrower pursuant to Section 2.01(a) in an aggregate principal amount at any
one time outstanding not to exceed the amount set forth opposite such Term Lender’s name on
Schedule 2.01 under the caption “Term Loan Commitment” or opposite such caption in the
Assignment and Assumption pursuant to which such Term Lender becomes a party hereto, as
applicable, as such amount may be adjusted from time to time in accordance with this Agreement. On
the Closing Date, the aggregate amount of Term Loan Commitments is $1,050,000,000.

     “Term Loan Facility” means, at any time, (a) on or prior to the Closing Date, the
aggregate amount of the Term Loan Commitments at such time and (b) thereafter, the aggregate
principal amount of the Term Loans of all Term Lenders outstanding at such time.

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     “Term Loan Maturity Date” means the Maturity Date with respect to the Term Loan
Facility.

     “Term Note” means a promissory note made by the Borrower in favor of a Term Lender
evidencing Term Loans made by such Term Lender, substantially in the form of Exhibit C-1.

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

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

     “Transaction” means (a) the issuance and sale of the Senior Notes, (b) the entering
into by the Loan Parties and their applicable Subsidiaries of the Loan Documents and the Senior
Notes Documents to which they are or are intended to be a party, (c) the refinancing of certain
outstanding Indebtedness of the Borrower and Swift Arizona and the termination of all commitments
with respect thereto, (d) the tender offer for the Floating Rate Notes and Fixed Rate Notes
(including purchases pursuant to the letter agreement with Apollo Fund VI BC, L.P. and Lily, L.P.),
and the consummation of such tender offer, (e) the cancellation of the Shareholder Loans, (f) the
consummation of the Public Offering of Holdings and (g) the payment of the fees and expenses
incurred in connection with the consummation of the foregoing.

     “Transaction Documents” means, collectively, the Loan Documents and the Senior Note
Documents.

     “Transaction Expenses” means the fees, premiums and expenses incurred in connection
with the consummation of the Transactions.

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

     “UCC” means the Uniform Commercial Code as in effect in the State of New York;
provided that, if perfection or the effect of perfection or non-perfection or the priority
of any security interest in any Collateral is governed by the Uniform Commercial Code as in effect
in a jurisdiction other than the State of New York, “UCC” means the Uniform Commercial Code
as in effect from time to time in such other jurisdiction for purposes of the provisions hereof
relating to such perfection, effect of perfection or non-perfection or priority.

     “Unfunded Pension Liability” means the excess of a Pension Plan’s benefit liabilities
under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets,
determined in accordance with the assumptions used for funding the Pension Plan pursuant to
Sections 412 or 430 of the Code or Section 302 of ERISA for the applicable plan year.

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

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

     “U.S. Subsidiary” means any Subsidiary that is incorporated or organized under the
laws of the United States, a state thereof or the District of Columbia.

     “Voting Securities” means, with respect to any Person, Capital Securities of any class
or kind ordinarily having the power to vote for the election of directors, managers or other voting
members of the governing body of such Person.

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     “Welfare Plan” means a “welfare plan”, as such term is defined in Section 3(1) of
ERISA.

     1.02 Other Interpretive Provisions. With reference to this Agreement and each other
Loan Document, unless otherwise specified herein or in such other Loan Document:

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

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

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

     1.03 Accounting Terms.

     (a) Generally. All accounting terms not specifically or completely defined herein
shall be construed in conformity with, and all financial data (including financial ratios and other
financial calculations) required to be submitted pursuant to this Agreement shall be prepared in
conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a
manner consistent with that used in preparing the Audited Financial Statements, except as
otherwise specifically prescribed herein.

     (b) Changes in GAAP. If at any time any change in GAAP would affect the computation
of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or
the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall
negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof
in light of such change in GAAP (subject to the approval of the Required Lenders); provided
that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance
with GAAP prior to such change therein and (ii) the Borrower shall provide to the Administrative
Agent and the Lenders financial statements and other documents required under this Agreement or as
reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or
requirement made before and

31

 

after giving effect to such change in GAAP. Notwithstanding any other provision contained
herein, all terms of an accounting or financial nature used herein shall be construed, and all
computations of amounts and ratios referred to herein shall be made, without giving effect to any
election under Statement of Financial Accounting Standards 159 (or any other Financial Accounting
Standard having a similar result or effect) to value any Indebtedness or other liabilities of
Holdings, the Borrower or any Subsidiary at “fair value”, as defined therein.

     (c) Consolidation of Variable Interest Entities. All references herein to
consolidated financial statements of Holdings and its Subsidiaries or to the determination of any
amount for Holdings and its Subsidiaries on a consolidated basis or any similar reference shall, in
each case, be deemed to include each variable interest entity that Holdings is required to
consolidate pursuant to FASB Interpretation No. 46 — Consolidation of Variable Interest Entities:
an interpretation of ARB No. 51 (January 2003) as if such variable interest entity were a
Subsidiary as defined herein.

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

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

     1.06 Letter of Credit Amounts. Unless otherwise specified herein, the amount of a
Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in
effect at such time; provided, however, that with respect to any Letter of Credit
that, by its terms or the terms of any Issuer Document related thereto, provides for one or more
automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be
deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such
increases, whether or not such maximum stated amount is in effect at such time.

     1.07 Currency Equivalents Generally. Any amount specified in this Agreement (other
than in Articles II and IX) or any of the other Loan Documents to be in Dollars
shall also include the equivalent of such amount in any currency other than Dollars, such
equivalent amount thereof in the applicable currency to be determined by the Administrative Agent
at such time on the basis of the Spot Rate (as defined below) for the purchase of such currency
with Dollars. For purposes of this Section 1.07, the “Spot Rate” for a currency
means the rate determined by the Administrative Agent to be the rate quoted by the Person acting in
such capacity as the spot rate for the purchase by such Person of such currency with another
currency through its principal foreign exchange trading office at approximately 11:00 a.m. on the
date two Business Days prior to the date of such determination; provided that the
Administrative Agent may obtain such spot rate from another financial institution designated by the
Administrative Agent if the Person acting in such capacity does not have as of the date of
determination a spot buying rate for any such currency.

ARTICLE II

THE COMMITMENTS AND CREDIT EXTENSIONS

     2.01 The Loans. (a) The Term Loan Borrowing. Subject to the terms and
conditions set forth herein, each Term Lender severally agrees to make a single loan to the
Borrower on the Closing Date in an amount not to exceed such Term Lender’s Term Loan Commitment.
The Term Loan Borrowing shall

32

 

consist of Term Loans made simultaneously by the Term Lenders in accordance with their
respective Term Loan Commitments. Amounts borrowed under this Section 2.01(a) and repaid
or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Eurodollar Rate Loans, as
further provided herein.

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

     2.02 Borrowings, Conversions and Continuations of Loans. (a) Each Term Loan
Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans
from one Type to the other, and each continuation of Eurodollar Rate Loans shall be made upon the
Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each
such notice must be received by the Administrative Agent not later than 12:00 p.m. (i) three
Business Days prior to the requested date of any Borrowing of, conversion to or continuation of
Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on
the requested date of any Borrowing of Base Rate Loans; provided, however, that if
the Borrower wishes to request Eurodollar Rate Loans having an Interest Period other than one, two,
three or six months in duration as provided in the definition of “Interest Period,” the applicable
notice must be received by the Administrative Agent not later than 12:00 p.m. four Business Days
prior to the requested date of such Borrowing, conversion or continuation, whereupon the
Administrative Agent shall give prompt notice to the Appropriate Lenders of such request and
determine whether the requested Interest Period is acceptable to all of them. Not later than 12:00
p.m., three Business Days before the requested date of such Borrowing, conversion or continuation,
the Administrative Agent shall notify the Borrower (which notice may be by telephone) whether or
not the requested Interest Period has been consented to by all the Lenders. Each telephonic notice
by the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to
the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by
a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of
Eurodollar Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of
$1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c),
each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a
whole multiple of $100,000 in excess thereof. Each Committed Loan Notice (whether telephonic or
written) shall specify (i) whether the Borrower is requesting a Term Loan Borrowing, a Revolving
Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other,
or a continuation of Eurodollar Rate Loans, (ii) the requested date of the Borrowing, conversion or
continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of
Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which
existing Term Loans or Revolving Credit Loans are to be converted, and (v) if applicable, the
duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of
Loan in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a
conversion or continuation, then the applicable Term Loans or Revolving Credit Loans shall be made
as, or converted

33

 

to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as
of the last day of the Interest Period then in effect with respect to the applicable Eurodollar
Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar
Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be
deemed to have specified an Interest Period of one month. Notwithstanding anything to the contrary
herein, a Swing Line Loan may not be converted to a Eurodollar Rate Loan.

     (b) Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly
notify each Lender of the amount of its Applicable Percentage under the applicable Facility, and if
no timely notice of a conversion or continuation is provided by the Borrower, the Administrative
Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans
described in Section 2.02(a). In the case of a Term Loan Borrowing or a Revolving Credit
Borrowing, each Appropriate Lender shall make the amount of its Loan available to the
Administrative Agent in immediately available funds at the Administrative Agent’s Office not later
than 1:00 p.m. on the Business Day specified in the applicable Committed Loan Notice. Upon
satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing
is the initial Credit Extension, Section 4.01), the Administrative Agent shall make all
funds so received available to the Borrower in like funds as received by the Administrative Agent
either by (i) crediting the account of the Borrower on the books of Bank of America with the amount
of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions
provided to (and reasonably acceptable to) the Administrative Agent by the Borrower;
provided, however, that if, on the date a Committed Loan Notice with respect to a
Revolving Credit Borrowing is given by the Borrower, there are L/C Borrowings outstanding, then the
proceeds of such Revolving Credit Borrowing, first, shall be applied to the payment in full
of any such L/C Borrowings, and second, shall be made available to the Borrower as provided
above.

     (c) Except as otherwise provided herein, a Eurodollar Rate Loan may be continued or converted
only on the last day of an Interest Period for such Eurodollar Rate Loan. During the existence of
an Event of Default, no Loans may be requested as, converted to or continued as Eurodollar Rate
Loans if the Administrative Agent has or the Required Term Lenders or Required Revolving Lenders,
as applicable, have determined in its or their sole discretion not to permit such conversions.

     (d) The Administrative Agent shall promptly notify the Borrower and the Lenders of the
interest rate applicable to any Interest Period for Eurodollar Rate Loans upon determination of
such interest rate. At any time that Base Rate Loans are outstanding, the Administrative Agent
shall notify the Borrower and the Lenders of any change in Bank of America’s prime rate used in
determining the Base Rate promptly following the public announcement of such change.

     (e) After giving effect to all Term Loan Borrowings, all conversions of Term Loans from one
Type to the other, and all continuations of Term Loans as the same Type, there shall not be more
than [ ] Interest Periods in effect in respect of the Term Loan Facility. After giving effect to
all Revolving Credit Borrowings, all conversions of Revolving Credit Loans from one Type to the
other, and all continuations of Revolving Credit Loans as the same Type, there shall not be more
than [ ] Interest Periods in effect in respect of the Revolving Credit Facility.

     (f) [Anything in this Section 2.02 to the contrary notwithstanding, the Borrower may
not select (i) the Eurodollar Rate for the initial Credit Extension or (ii) Interest Periods for
Eurodollar Rate Loans that have a duration of more than one month during the period from the date
hereof to [ ] (or such earlier date as shall be specified by the Administrative Agent in a notice
to the Borrower and the Lenders).]

     2.03 Letters of Credit. (a) The Letter of Credit Commitment. (i) Subject
to the terms and

34

 

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

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

     (A) the expiry date of such requested Letter of Credit would occur more than
twelve months after the date of issuance or last extension, unless the Required
Revolving Lenders have approved such expiry date; or

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

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

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

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

     (C) except as otherwise agreed by the Administrative Agent and the L/C Issuer,
such Letter of Credit is in an initial stated amount less than $50,000;

35

 

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

     (E) such Letter of Credit contains any provisions for automatic reinstatement
of the stated amount after any drawing thereunder;

     (F) any Lender is at that time a Defaulting Lender, unless the L/C Issuer has
entered into arrangements, including the delivery of Cash Collateral, satisfactory
to the L/C Issuer (in its sole discretion) with the Borrower or such Lender to
eliminate the L/C Issuer’s actual or potential Fronting Exposure (after giving
effect to Section 2.14(a)(iv)) with respect to the Defaulting Lender arising
from either the Letter of Credit then proposed to be issued or that Letter of Credit
and all other L/C Obligations as to which the L/C Issuer has actual or potential
Fronting Exposure, as it may elect in its sole discretion; or

     (G) the Letter of Credit contains any provisions for automatic reinstatement of
the stated amount after any drawing thereunder.

     (iv) The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be
permitted at such time to issue such Letter of Credit in its amended form under the terms
hereof.

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

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

     (b) Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of
Credit. (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the
request of the Borrower delivered to the L/C Issuer (with a copy to the Administrative Agent) in
the form of a Letter of Credit Application, appropriately completed and signed by a Responsible
Officer of the Borrower. Such Letter of Credit Application must be received by the L/C Issuer and
the Administrative Agent not later than 12:00 p.m. at least two Business Days (or such later date
and time as the Administrative Agent and the L/C Issuer may agree in a particular instance in their
sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In
the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit
Application shall specify in form and detail satisfactory to the L/C Issuer: (A) the proposed
issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount
thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the
documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text
of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the
purpose and nature of the requested Letter of Credit; and (H) such other matters as the L/C Issuer
may require. In the case of a request for an amendment of any outstanding Letter of Credit, such
Letter of Credit Application

36

 

shall specify in form and detail satisfactory to the L/C Issuer (1) the Letter of Credit to be
amended; (2) the proposed date of amendment thereof (which shall be a Business Day); (3) the nature
of the proposed amendment; and (4) such other matters as the L/C Issuer may require. Additionally,
the Borrower shall furnish to the L/C Issuer and the Administrative Agent such other documents and
information pertaining to such requested Letter of Credit issuance or amendment, including any
Issuer Documents, as the L/C Issuer or the Administrative Agent may require.

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

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

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

     (c) Drawings and Reimbursements; Funding of Participations. (i) Upon receipt from
the

37

 

beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit,
the L/C Issuer shall notify the Borrower and the Administrative Agent thereof. Not later than
12:00 p.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date,
an “Honor Date”), the Borrower shall reimburse the L/C Issuer through the Administrative
Agent in an amount equal to the amount of such drawing. If the Borrower fails to so reimburse the
L/C Issuer by such time, the Administrative Agent shall promptly notify each Revolving Credit
Lender of the Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed
Amount”), and the amount of such Revolving Credit Lender’s Applicable Revolving Credit
Percentage thereof. In such event, the Borrower shall be deemed to have requested a Revolving
Credit Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the
Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02
for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of
the Revolving Credit Commitments and the conditions set forth in Section 4.02 (other than
the delivery of a Committed Loan Notice). Any notice given by the L/C Issuer or the Administrative
Agent pursuant to this Section 2.03(c)(i) may be given by telephone if immediately
confirmed in writing; provided that the lack of such an immediate confirmation shall not
affect the conclusiveness or binding effect of such notice.

     (ii) Each Revolving Credit Lender shall upon any notice pursuant to Section
2.03(c)(i) make funds available to the Administrative Agent for the account of the L/C
Issuer at the Administrative Agent’s Office in an amount equal to its Applicable Revolving
Credit Percentage of the Unreimbursed Amount not later than 2:00 p.m. on the Business Day
specified in such notice by the Administrative Agent, whereupon, subject to the provisions
of Section 2.03(c)(iii), each Revolving Credit Lender that so makes funds available
shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The
Administrative Agent shall remit the funds so received to the L/C Issuer.

     (iii) With respect to any Unreimbursed Amount that is not fully refinanced by a
Revolving Credit Borrowing of Base Rate Loans because the conditions set forth in
Section 4.02 cannot be satisfied or for any other reason, the Borrower shall be
deemed to have incurred from the L/C Issuer an L/C Borrowing in the amount of the
Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable
on demand (together with interest) and shall bear interest at the Default Rate. In such
event, each Revolving Credit Lender’s payment to the Administrative Agent for the account of
the L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of
its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender
in satisfaction of its participation obligation under this Section 2.03.

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

     (v) Each Revolving Credit Lender’s obligation to make Revolving Credit Loans or L/C
Advances to reimburse the L/C Issuer for amounts drawn under Letters of Credit, as
contemplated by this Section 2.03(c), shall be absolute and unconditional and shall
not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment,
defense or other right which such Lender may have against the L/C Issuer, the Borrower or
any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default,
or (C) any other occurrence, event or condition, whether or not similar to any of the
foregoing; provided, however, that each Revolving Credit Lender’s obligation
to make Revolving Credit Loans pursuant to this Section 2.03(c) is subject to the
conditions set forth in Section 4.02 (other than delivery by the

38

 

Borrower of a Committed Loan Notice ). No such making of an L/C Advance shall relieve
or otherwise impair the obligation of the Borrower to reimburse the L/C Issuer for the
amount of any payment made by the L/C Issuer under any Letter of Credit, together with
interest as provided herein.

     (vi) If any Revolving Credit Lender fails to make available to the Administrative Agent
for the account of the L/C Issuer any amount required to be paid by such Lender pursuant to
the foregoing provisions of this Section 2.03(c) by the time specified in
Section 2.03(c)(ii), the L/C Issuer shall be entitled to recover from such Lender
(acting through the Administrative Agent), on demand, such amount with interest thereon for
the period from the date such payment is required to the date on which such payment is
immediately available to the L/C Issuer at a rate per annum equal to the greater of the
Federal Funds Rate and a rate determined by the L/C Issuer in accordance with banking
industry rules on interbank compensation, plus any administrative, processing or similar
fees customarily charged by the L/C Issuer in connection with the foregoing. If such Lender
pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute
such Lender’s Revolving Credit Loan included in the relevant Borrowing or L/C Advance in
respect of the relevant L/C Borrowing, as the case may be. A certificate of the L/C Issuer
submitted to any Revolving Credit Lender (through the Administrative Agent) with respect to
any amounts owing under this Section 2.03(c)(vi) shall be conclusive absent manifest
error.

     (d) Repayment of Participations. (i) At any time after the L/C Issuer has made a
payment under any Letter of Credit and has received from any Revolving Credit Lender such Lender’s
L/C Advance in respect of such payment in accordance with Section 2.03(c), if the
Administrative Agent receives for the account of the L/C Issuer any payment in respect of the
related Unreimbursed Amount or interest thereon (whether directly from the Borrower or otherwise,
including proceeds of Cash Collateral applied thereto by the Administrative Agent), the
Administrative Agent will distribute to such Lender its Applicable Revolving Credit Percentage
thereof in the same funds as those received by the Administrative Agent.

     (ii) If any payment received by the Administrative Agent for the account of the L/C
Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the
circumstances described in Section 10.05 (including pursuant to any settlement
entered into by the L/C Issuer in its discretion), each Revolving Credit Lender shall pay to
the Administrative Agent for the account of the L/C Issuer its Applicable Revolving Credit
Percentage thereof on demand of the Administrative Agent, plus interest thereon from
the date of such demand to the date such amount is returned by such Lender, at a rate per
annum equal to the Federal Funds Rate from time to time in effect. The obligations of the
Lenders under this clause shall survive the payment in full of the Obligations and the
termination of this Agreement.

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

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

     (ii) the existence of any claim, counterclaim, setoff, defense or other right that the
Borrower or any Subsidiary may have at any time against any beneficiary or any transferee of
such Letter of Credit (or any Person for whom any such beneficiary or any such transferee
may

39

 

be acting), the L/C Issuer or any other Person, whether in connection with this
Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement
or instrument relating thereto, or any unrelated transaction;

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

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

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

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

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

40

 

further investigation, regardless of any notice or information to the contrary, and the L/C
Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or
assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits
thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective
for any reason.

     (ii) The L/C Issuer shall, no later than the third Business Day following the last day
of each month, provide to the Administrative Agent a schedule of the Letters of Credit
issued by it, in form and substance reasonably satisfactory to the Administrative Agent,
showing, with respect to any Letter of Credit outstanding an any time during such month: (A)
the date of issuance, (B) the account party, (C) the original face amount (if any), (D) the
expiration date, (E) the reference number and (F) the aggregate amount (if any) payable by
the Borrower to such L/C Issuer during such month. Promptly after the receipt of such
schedule from the L/C Issuer, the Administrative Agent shall provide to Lenders a summary of
such schedule.

     (g) Cash Collateral. Upon the request of the Administrative Agent, (i) if the L/C
Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing
has resulted in an L/C Borrowing, or (ii) if, as of the Letter of Credit Expiration Date, any L/C
Obligation for any reason remains outstanding, the Borrower shall, in each case, immediately Cash
Collateralize the then Outstanding Amount of all L/C Obligations. Sections 2.05 and
8.02(c) set forth certain additional requirements to deliver Cash Collateral hereunder.
For purposes of this Section 2.03, Section 2.05 and Section 8.02(c),
“Cash Collateralize” means to pledge and deposit with or deliver to the Administrative
Agent, for the benefit of the L/C Issuer and the Lenders, as collateral for the L/C Obligations,
cash or deposit account balances in an aggregate amount equal to 105% of the L/C Obligations
(“Cash Collateral”) pursuant to documentation in form and substance satisfactory to the
Administrative Agent and the L/C Issuer (which documents are hereby consented to by the Lenders).
Derivatives of such term have corresponding meanings. The Borrower hereby grants to the
Administrative Agent, for the benefit of the L/C Issuer and the Lenders, a security interest in all
such cash, deposit accounts and all balances therein and all proceeds of the foregoing. Cash
Collateral shall be maintained in blocked deposit accounts at Bank of America. If at any time the
Administrative Agent determines that any funds held as Cash Collateral are subject to any right or
claim of any Person other than the Administrative Agent or that the total amount of such funds is
less than the aggregate Outstanding Amount of all L/C Obligations, the Borrower will, forthwith
upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be
deposited as Cash Collateral, an amount equal to the excess of (x) such aggregate Outstanding
Amount over (y) the total amount of funds, if any, then held as Cash Collateral that the
Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing
of any Letter of Credit for which funds are on deposit as Cash Collateral, such funds shall be
applied, to the extent permitted under applicable Laws, to reimburse the L/C Issuer.

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

     (i) Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the
account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit
Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit
equal to the Applicable Rate times the daily amount available to be drawn under such Letter
of Credit; provided, however, any Letter of Credit Fees otherwise payable for the account
of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has
not provided Cash Collateral satisfactory to the L/C Issuer

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pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by
applicable Law, to the other Lenders in accordance with the upward adjustments in their respective
Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.14(a)(iv),
with the balance of such fee, if any, payable to the L/C Issuer for its own account. For purposes
of computing the daily amount available to be drawn under any Letter of Credit, the amount of such
Letter of Credit shall be determined in accordance with Section 1.06. Letter of Credit
Fees shall be (i) due and payable on the first Business Day after the end of each March, June,
September and December, commencing with the first such date to occur after the issuance of such
Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii)
computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any
quarter, the daily amount available to be drawn under each Letter of Credit shall be computed and
multiplied by the Applicable Rate separately for each period during such quarter that such
Applicable Rate was in effect.

     (j) Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The
Borrower shall pay directly to the L/C Issuer for its own account a fronting fee with respect to
each Letter of Credit, at the rate per annum separately agreed by the Borrower and the L/C Issuer,
computed on the daily amount available to be drawn under such Letter of Credit on a quarterly basis
in arrears. Such fronting fee shall be due and payable on the tenth Business Day after the end of
each March, June, September and December in respect of the most recently-ended quarterly period (or
portion thereof, in the case of the first payment), commencing with the first such date to occur
after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter
on demand. For purposes of computing the daily amount available to be drawn under any Letter of
Credit, the amount of such Letter of Credit shall be determined in accordance with Section
1.06. In addition, the Borrower shall pay directly to the L/C Issuer for its own account the
customary issuance, presentation, amendment and other processing fees, and other standard costs and
charges, of the L/C Issuer relating to letters of credit as from time to time in effect. Such
customary fees and standard costs and charges are due and payable on demand and are nonrefundable.

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

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

     2.04 Swing Line Loans. (a) The Swing Line. Subject to the terms and
conditions set forth herein, the Swing Line Lender agrees, in reliance upon the agreements of the
other Lenders set forth in this Section 2.04, to make loans (each such loan, a “Swing
Line Loan”) to the Borrower from time to time on any Business Day during the Availability
Period in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line
Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable
Revolving Credit Percentage of the Outstanding Amount of Revolving Credit Loans and L/C Obligations
of the Lender acting as Swing Line Lender, may exceed the amount of such Lender’s Revolving Credit
Commitment; provided, however, that after giving effect to any Swing Line Loan, (i)
the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility at such
time, and (ii) the aggregate Outstanding Amount of the Revolving Credit Loans of any Revolving
Credit Lender at such time, plus such Revolving Credit Lender’s Applicable Revolving Credit
Percentage of the Outstanding Amount of all L/C Obligations at such time, plus such
Revolving Credit Lender’s Applicable Revolving Credit Percentage of the Outstanding Amount of all
Swing Line Loans at

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such time shall not exceed such Lender’s Revolving Credit Commitment, and provided
further that the Borrower shall not use the proceeds of any Swing Line Loan to refinance
any outstanding Swing Line Loan. Within the foregoing limits, and subject to the other terms and
conditions hereof, the Borrower may borrow under this Section 2.04, prepay under
Section 2.05, and reborrow under this Section 2.04. Each Swing Line Loan shall
bear interest only at a rate based on the Base Rate. Immediately upon the making of a Swing Line
Loan, each Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally
agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an
amount equal to the product of such Revolving Credit Lender’s Applicable Revolving Credit
Percentage times the amount of such Swing Line Loan.

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

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

     (ii) If for any reason any Swing Line Loan cannot be refinanced by such a Revolving
Credit Borrowing in accordance with Section 2.04(c)(i), the request for Base Rate
Loans submitted

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by the Swing Line Lender as set forth herein shall be deemed to be a request
by the Swing Line Lender that each of the Revolving Credit Lenders fund its risk
participation in the relevant Swing Line Loan and each Revolving Credit Lender’s payment to
the Administrative Agent for the account of the Swing Line Lender pursuant to Section
2.04(c)(i) shall be deemed payment in respect of such participation.

     (iii) If any Revolving Credit Lender fails to make available to the Administrative
Agent for the account of the Swing Line Lender any amount required to be paid by such Lender
pursuant to the foregoing provisions of this Section 2.04(c) by the time specified
in Section 2.04(c)(i), the Swing Line Lender shall be entitled to recover from such
Lender (acting through the Administrative Agent), on demand, such amount with interest
thereon for the period from the date such payment is required to the date on which such
payment is immediately available to the Swing Line Lender at a rate per annum equal to the
greater of the Federal Funds Rate and a rate determined by the Swing Line Lender in
accordance with banking industry rules on interbank compensation, plus any administrative,
processing or similar fees customarily charged by the Swing Line Lender in connection with
the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the
amount so paid shall constitute such Lender’s Committed Loan included in the relevant
Committed Borrowing or funded participation in the relevant Swing Line Loan, as the case may
be. A certificate of the Swing Line Lender submitted to any Lender (through the
Administrative Agent) with respect to any amounts owing under this clause (iii) shall be
conclusive absent manifest error.

     (iv) Each Revolving Credit Lender’s obligation to make Revolving Credit Loans or to
purchase and fund risk participations in Swing Line Loans pursuant to this Section
2.04(c) shall be absolute and unconditional and shall not be affected by any
circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right
which such Lender may have against the Swing Line Lender, the Borrower or any other Person
for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any other
occurrence, event or condition, whether or not similar to any of the foregoing;
provided, however, that each Revolving Credit Lender’s obligation to make
Revolving Credit Loans pursuant to this Section 2.04(c) is subject to the conditions
set forth in Section 4.02. No such funding of risk participations shall relieve or
otherwise impair the obligation of the Borrower to repay Swing Line Loans, together with
interest as provided herein.

     (d) Repayment of Participations. (i) At any time after any Revolving Credit Lender
has purchased and funded a risk participation in a Swing Line Loan, if the Swing Line Lender
receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to
such Revolving Credit Lender its Applicable Revolving Credit Percentage thereof in the same funds
as those received by the Swing Line Lender.

     (ii) If any payment received by the Swing Line Lender in respect of principal or
interest on any Swing Line Loan is required to be returned by the Swing Line Lender under
any of the circumstances described in Section 10.05 (including pursuant to any
settlement entered into by the Swing Line Lender in its discretion), each Revolving Credit
Lender shall pay to the Swing Line Lender its Applicable Revolving Credit Percentage thereof
on demand of the Administrative Agent, plus interest thereon from the date of such
demand to the date such amount is returned, at a rate per annum equal to the Federal Funds
Rate. The Administrative Agent will make such demand upon the request of the Swing Line
Lender. The obligations of the Lenders under this clause shall survive the payment in full
of the Obligations and the termination of this Agreement.

     (e) Interest for Account of Swing Line Lender. The Swing Line Lender shall be
responsible

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

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

     2.05 Prepayments. (a) Optional. (i) The Borrower may, upon notice to the
Administrative Agent, at any time or from time to time voluntarily prepay Term Loans and Revolving
Credit Loans in whole or in part without premium or penalty; provided that (A) such notice
must be received by the Administrative Agent not later than 12:00 p.m. (1) three Business Days
prior to any date of prepayment of Eurodollar Rate Loans and (2) on the date of prepayment of Base
Rate Loans; (B) any prepayment of Eurodollar Rate Loans shall be in a principal amount of
$5,000,000 or a whole multiple of $1,000,000 in excess thereof; and (C) any prepayment of Base Rate
Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof
or, in each case, if less, the entire principal amount thereof then outstanding. Each such notice
shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if
Eurodollar Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative
Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of
such Lender’s ratable portion of such prepayment (based on such Lender’s Applicable Percentage in
respect of the relevant Facility). If such notice is given by the Borrower, the Borrower shall
make such prepayment and the payment amount specified in such notice shall be due and payable on
the date specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied by all
accrued interest on the amount prepaid, together with any additional amounts required pursuant to
Section 3.05. Each prepayment of the outstanding Term Loans pursuant to this Section
2.05(a) shall be applied as directed by the Borrower to the principal repayment installments
thereof, and each such prepayment shall be paid to the Lenders in accordance with their respective
Applicable Percentages in respect of each of the relevant Facilities.

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

     (b) Mandatory. (i) Commencing with Fiscal Year 2011, within five Business Days after
financial statements have been delivered pursuant to Section 6.01(b) and the related
Compliance Certificate has been delivered pursuant to Section 6.01(c), the Borrower shall
prepay an aggregate principal amount of Loans equal to the excess (if any) of (A) the Repayment
Percentage of Excess Cash Flow for the Fiscal Year covered by such financial statements
over (B) the sum of (i) the aggregate principal amount of Term Loans prepaid during such
Fiscal Year pursuant to Section 2.05(a)(i) and (ii) the excess of (x) all prepayments made
under Section 2.05(b)(iii) over (y) the aggregate amount of prepayments made under
Section 2.05(b)(iii) that, pursuant to the operation of clause (x), have previously reduced
the prepayment amount pursuant to this Section 2.05(b)(i) (such prepayments to be applied
as set forth in clauses (v) and (vii) below).

     (ii) If any Loan Party or any of its Subsidiaries Disposes of any Motor Vehicle (other
than in connection with a Motor Vehicle Financing (including in connection with the
repayment

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or other discharge of any Motor Vehicle Financing with or in anticipation of the
receipt of proceeds from any sale or other disposition of any Motor Vehicles securing or the
subject of such Motor Vehicle Financing) or a Newly Acquired Motor Vehicle Financing),
Disposes of any property pursuant to Section 7.11(c), Disposes of any property in
connection with a sale and leaseback pursuant to Section 7.15(c) or suffers a
Casualty Event which results in the realization by such Person of Net Cash Proceeds, the
Borrower shall prepay an aggregate principal amount of Loans equal to 100% of such Net Cash
Proceeds within five (5) Business Days of receipt thereof by such Person (such prepayments
to be applied as set forth in clauses (v) and (vii) below);
provided, however, that, with respect to any Net Cash Proceeds realized
under a Disposition or Casualty Event described in this Section 2.05(b)(ii), at the
election of the Borrower, and so long as no Default or Event of Default shall have occurred
and be continuing, such Loan Party or such Subsidiary may reinvest all or any portion of
such Net Cash Proceeds in operating assets (including Permitted Acquisitions) so long as
within 365 days after the receipt of such Net Cash Proceeds, such purchase shall have been
consummated (as certified by the Borrower in writing to the Administrative Agent);
provided further, that acquisitions of assets (including pursuant to
Permitted Acquisitions) that occurred within 90 days prior to receipt of such Net Cash
Proceeds shall be treated as a permitted application pursuant to this clause; and
provided further, however, that any Net Cash Proceeds not subject to
such definitive agreement or so reinvested shall be immediately applied to the prepayment of
the Loans as set forth in this Section 2.05(b)(ii).

     (iii) Upon the sale or issuance by Holdings of any of its Capital Securities (other
than any sales or issuances of Capital Securities to another Loan Party, any such sale or
issuance on the Closing Date, any sale or issuance that yields Net Cash Proceeds of up to
$28,000,000 as a result of the exercise of any over-allotment option in connection with any
such sale or issuance on the Closing Date (provided that in the case of any such
sale and issuance that yields Net Cash Proceeds in excess of $28,000,000, such excess shall
be applied in accordance with this clause (iii)) and any issuance or sale for the
purpose of funding a Permitted Acquisition), the Borrower shall prepay an aggregate
principal amount of Loans equal to the Repayment Percentage of all Net Cash Proceeds
received therefrom within three (3) Business Days of receipt thereof by such Loan Party or
such Subsidiary (such prepayments to be applied as set forth in clauses (v) and
(vii) below).

     (iv) If any Loan Party receives any Net Cash Proceeds from (x) any Qualified
Receivables Transaction representing an increase in the net outstanding realizations by the
Loan Parties under all Qualified Receivables Transactions to in excess of $275,000,000 (or,
if greater, the largest prior amount since the Closing Date of such net outstanding
realizations) or (y) any Motor Vehicle Financing, the Borrower shall prepay an aggregate
principal amount of Loans equal to 100% of such Net Cash Proceeds, to be applied as set
forth in clauses (v) and (vii) below.

     (v) Each prepayment of Loans pursuant to the foregoing provisions of this Section
2.05(b) shall be applied, first, to the Term Loan Facility to the principal
repayment installments thereof occurring within the next 24 months in direct order of
maturity, second, to the Term Loan Facility to the remaining principal repayment
installments thereof on a pro-rata basis, and third, to the Revolving Credit
Facility in the manner set forth in clause (vii) of this Section 2.05(b).

     (vi) If for any reason the Total Revolving Credit Outstandings at any time exceed the
Revolving Credit Facility at such time, the Borrower shall immediately prepay Revolving
Credit Loans, Swing Line Loans and L/C Borrowings and/or Cash Collateralize the L/C
Obligations (other than the L/C Borrowings) in an aggregate amount equal to such excess.

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     (vii) Prepayments of the Revolving Credit Facility made pursuant to this Section
2.05(b), first, shall be applied ratably to the L/C Borrowings and the Swing
Line Loans, second, shall be applied ratably to the outstanding Revolving Credit
Loans, and, third, shall be used to Cash Collateralize the remaining L/C
Obligations; and, in the case of prepayments of the Revolving Credit Facility required
pursuant to clause (i), (ii), (iii), (iv) or (v) of
this Section 2.05(b), the amount remaining, if any, after the prepayment in full of
all L/C Borrowings, Swing Line Loans and Revolving Credit Loans outstanding at such time and
the Cash Collateralization of the remaining L/C Obligations in full (the sum of such
prepayment amounts, cash collateralization amounts and remaining amount being, collectively,
the “Reduction Amount”) may be retained by the Borrower for use in the ordinary
course of its business, and the Revolving Credit Facility shall be automatically and
permanently reduced by the Reduction Amount as set forth in Section 2.06(b)(ii).
Upon the drawing of any Letter of Credit that has been Cash Collateralized, the funds held
as Cash Collateral shall be applied (without any further action by or notice to or from the
Borrower or any other Loan Party) to reimburse the L/C Issuer or the Revolving Credit
Lenders, as applicable.

     2.06 Termination or Reduction of Commitments. (a) Optional. The Borrower
may, upon notice to the Administrative Agent, terminate the Revolving Credit Facility, the Letter
of Credit Sublimit or the Swing Line Sublimit, or from time to time permanently reduce the
Revolving Credit Facility, the Letter of Credit Sublimit or the Swing Line Sublimit;
provided that (i) any such notice shall be received by the Administrative Agent not later
than 12:00 p.m. five Business Days prior to the date of termination or reduction, (ii) any such
partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of
$1,000,000 in excess thereof and (iii) the Borrower shall not terminate or reduce (A) the Revolving
Credit Facility if, after giving effect thereto and to any concurrent prepayments hereunder, the
Total Revolving Credit Outstandings would exceed the Revolving Credit Facility, (B) the Letter of
Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C Obligations not
fully Cash Collateralized hereunder would exceed the Letter of Credit Sublimit, or (C) the Swing
Line Sublimit if, after giving effect thereto and to any concurrent prepayments hereunder, the
Outstanding Amount of Swing Line Loans would exceed the Swing Line Sublimit.

     (b) Mandatory. (i) The aggregate Term Loan Commitments shall be automatically and
permanently reduced to zero on the date of the Term Loan Borrowing.

     (ii) The Revolving Credit Facility shall be automatically and permanently reduced on
each date on which the prepayment of Revolving Credit Loans outstanding thereunder is
required to be made pursuant to Section 2.05(b)(ii), (iii) or (iv)
by an amount equal to the applicable Reduction Amount.

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

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

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     2.07 Repayment of Loans. (a) Term Loans. On each Quarterly Payment Date
commencing March 31, 2011, the Borrower shall repay to the Term Lenders an aggregate principal
amount of Term Loans equal to 0.25% of the original aggregate outstanding principal amount of the
Term Loans (which amounts shall be reduced as a result of the application of prepayments in
accordance with the order of priority set forth in Section 2.05); provided,
however, that the final principal repayment installment of the Term Loans shall be repaid
on the Term Loan Maturity Date and in any event shall be in an amount equal to the aggregate
principal amount of all Term Loans outstanding on such date.

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

     (c) Swing Line Loans. The Borrower shall repay each Swing Line Loan on the earlier to
occur of (i) the date ten Business Days after such Loan is made and (ii) the Maturity Date for the
Revolving Credit Facility.

     2.08 Interest. (a) Subject to the provisions of Section 2.08(b), (i) each
Eurodollar Rate Loan under a Facility shall bear interest on the outstanding principal amount
thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest
Period plus the Applicable Rate for such Facility; (ii) each Base Rate Loan under a
Facility shall bear interest on the outstanding principal amount thereof from the applicable
borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate for such
Facility; and (iii) each Swing Line Loan shall bear interest on the outstanding principal amount
thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus
the Applicable Rate for the Revolving Credit Facility.

     (b) (i) After the occurrence and during the continuance of any Event of Default described in
Section 8.01(a) or (i), upon the request of the Required Lenders (except in the case of an
Event of Default as a result of the failure to pay any principal amounts due, such request shall
not be required), the Borrower shall pay interest on all Obligations not paid when due at a
fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent
permitted by applicable Laws.

     (ii) After the occurrence and during the continuance of any Event of Default with
respect to Section 7.04 for a period of 15 consecutive days, upon the request of the
Required Lenders, the Borrower shall pay interest on all outstanding Obligations hereunder
at a fluctuating interest rate per annum at all times equal to the Default Rate to the
fullest extent permitted by applicable Laws.

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

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

     2.09 Fees. In addition to certain fees described in Sections 2.03(i) and (j):

     (a) Commitment Fee. The Borrower shall pay to the Administrative Agent for the
account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit
Percentage, a commitment fee equal to the Applicable Fee Rate times the actual daily amount
by which the Revolving Credit Facility exceeds the sum of (i) the Outstanding Amount of Revolving
Credit Loans and (ii) the

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Outstanding Amount of L/C Obligations. The commitment fee shall accrue at all times during
the Availability Period, including at any time during which one or more of the conditions in
Article IV is not met, and shall be due and payable quarterly in arrears on each Quarterly
Payment Date, commencing with the first such date to occur after the Closing Date, and on the last
day of the Availability Period for the Revolving Credit Facility. The commitment fee shall be
calculated quarterly in arrears, and if there is any change in the Applicable Fee Rate during any
quarter, the actual daily amount shall be computed and multiplied by the Applicable Fee Rate
separately for each period during such quarter that such Applicable Fee Rate was in effect.

     (b) Other Fees. (i) The Borrower shall pay to the Joint Lead Arrangers and the
Administrative Agent for their own respective accounts fees in the amounts and at the times
specified in the Fee Letters. Such fees shall be fully earned when paid and shall not be
refundable for any reason whatsoever.

     (ii) The Borrower shall pay to the Lenders such fees as shall have been separately
agreed upon in writing in the amounts and at the times so specified. Such fees shall be
fully earned when paid and shall not be refundable for any reason whatsoever.

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

     (b) If, as a result of any restatement of or other adjustment to the financial statements of
Holdings or for any other reason, the Borrower, Holdings or the Lenders determine that (i) the
Consolidated Leverage Ratio as calculated by Holdings as of any applicable date was inaccurate and
(ii) a proper calculation of the Consolidated Leverage Ratio would have resulted in higher pricing
for such period, the Borrower shall immediately and retroactively be obligated to pay to the
Administrative Agent for the account of the applicable Lenders or the L/C Issuer, as the case may
be, promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed
entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United
States, automatically and without further action by the Administrative Agent, any Lender or the L/C
Issuer), an amount equal to the excess of the amount of interest and fees that should have been
paid for such period over the amount of interest and fees actually paid for such period. This
paragraph shall not limit the rights of the Administrative Agent, any Lender or the L/C Issuer, as
the case may be, under Section 2.03(c)(iii), 2.03(i) or 2.08(b) or under
Article VIII. The Borrower’s obligations under this paragraph shall survive the
termination of the Aggregate Commitments and the repayment of all other Obligations hereunder.

     2.11 Evidence of Debt. (a) The Credit Extensions made by each Lender shall be
evidenced by one or more accounts or records maintained by such Lender and by the Administrative
Agent in the ordinary course of business. The accounts or records maintained by the Administrative
Agent and each Lender shall be conclusive absent manifest error of the amount of the Credit
Extensions made by the Lenders to the Borrower and the interest and payments thereon. Any failure
to so record or any error in doing so shall not, however, limit or otherwise affect the obligation
of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of
any conflict between the accounts and

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records maintained by any Lender and the accounts and records of the Administrative Agent in
respect of such matters, the accounts and records of the Administrative Agent shall control in the
absence of manifest error. Upon the request of any Lender made through the Administrative Agent,
the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note,
which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may
attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and
maturity of its Loans and payments with respect thereto.

     (b) In addition to the accounts and records referred to in Section 2.11(a), each
Lender and the Administrative Agent shall maintain in accordance with its usual practice accounts
or records evidencing the purchases and sales by such Lender of participations in Letters of Credit
and Swing Line Loans. In the event of any conflict between the accounts and records maintained by
the Administrative Agent and the accounts and records of any Lender in respect of such matters, the
accounts and records of the Administrative Agent shall control in the absence of manifest error.

     2.12 Payments Generally; Administrative Agent’s Clawback. (a) General. All
payments to be made by the Borrower shall be made without condition or deduction for any
counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all
payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of
the respective Lenders to which such payment is owed, at the Administrative Agent’s Office in
Dollars and in immediately available funds not later than 2:00 p.m. on the date specified herein.
The Administrative Agent will promptly distribute to each Lender its Applicable Percentage in
respect of the relevant Facility (or other applicable share as provided herein) of such payment in
like funds as received by wire transfer to such Lender’s Lending Office. All payments received by
the Administrative Agent after 2:00 p.m. shall be deemed received on the next succeeding Business
Day and any applicable interest or fee shall continue to accrue. If any payment to be made by the
Borrower shall come due on a day other than a Business Day, payment shall be made on the next
following Business Day, and such extension of time shall be reflected on computing interest or
fees, as the case may be.

     (b) (i) Funding by Lenders; Presumption by Administrative Agent. Unless the
Administrative Agent shall have received notice from a Lender prior to the proposed date of any
Borrowing of Eurodollar Rate Loans (or, in the case of any Borrowing of Base Rate Loans, prior to
12:00 noon on the date of such Borrowing) that such Lender will not make available to the
Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume
that such Lender has made such share available on such date in accordance with Section 2.02
(or, in the case of a Borrowing of Base Rate Loans, that such Lender has made such share available
in accordance with and at the time required by Section 2.02) and may, in reliance upon such
assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has
not in fact made its share of the applicable Borrowing available to the Administrative Agent, then
the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith
on demand such corresponding amount in immediately available funds with interest thereon, for each
day from and including the date such amount is made available to the Borrower to but excluding the
date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such
Lender, the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in
accordance with banking industry rules on interbank compensation, plus any administrative,
processing or similar fees customarily charged by the Administrative Agent in connection with the
foregoing, and (B) in the case of a payment to be made by the Borrower, the interest rate
applicable to Base Rate Loans. If the Borrower and such Lender shall pay such interest to the
Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly
remit to the Borrower the amount of such interest paid by the Borrower for such period. If such
Lender pays its share of the applicable Borrowing to the Administrative Agent, then the amount so
paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by the Borrower

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shall be without prejudice to any claim the Borrower may have against a Lender that shall have
failed to make such payment to the Administrative Agent.

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

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

     (c) Failure to Satisfy Conditions Precedent. If any Lender makes available to the
Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing
provisions of this Article II, and such funds are not made available to the Borrower by the
Administrative Agent because the conditions to the applicable Credit Extension set forth in
Article IV are not satisfied or waived in accordance with the terms hereof, the
Administrative Agent shall return such funds (in like funds as received from such Lender) to such
Lender, without interest.

     (d) Obligations of Lenders Several. The obligations of the Lenders hereunder to make
Term Loans and Revolving Credit Loans, to fund participations in Letters of Credit and Swing Line
Loans and to make payments pursuant to Section 10.04(c) are several and not joint. The
failure of any Lender to make any Loan, to fund any such participation or to make any payment under
Section 10.04(c) on any date required hereunder shall not relieve any other Lender of its
corresponding obligation to do so on such date, and no Lender shall be responsible for the failure
of any other Lender to so make its Loan, to purchase its participation or to make its payment under
Section 10.04(c).

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

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

     2.13 Sharing of Payments by Lenders. If any Lender shall, by exercising any right of
setoff or counterclaim or otherwise, obtain payment in respect of (a) Obligations in respect of any
the Facilities due and payable to such Lender hereunder and under the other Loan Documents at such
time in excess of its ratable share (according to the proportion of (i) the amount of such
Obligations due and payable to

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such Lender at such time to (ii) the aggregate amount of the Obligations in respect of the
Facilities due and payable to all Lenders hereunder and under the other Loan Documents at such
time) of payments on account of the Obligations in respect of the Facilities due and payable to all
Lenders hereunder and under the other Loan Documents at such time obtained by all the Lenders at
such time or (b) Obligations in respect of any of the Facilities owing (but not due and payable) to
such Lender hereunder and under the other Loan Documents at such time in excess of its ratable
share (according to the proportion of (i) the amount of such Obligations owing (but not due and
payable) to such Lender at such time to (ii) the aggregate amount of the Obligations in respect of
the Facilities owing (but not due and payable) to all Lenders hereunder and under the other Loan
Parties at such time) of payment on account of the Obligations in respect of the Facilities owing
(but not due and payable) to all Lenders hereunder and under the other Loan Documents at such time
obtained by all of the Lenders at such time then the Lender receiving such greater proportion shall
(a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value)
participations in the Loans and subparticipations in L/C Obligations and Swing Line Loans of the
other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all
such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of
Obligations in respect of the Facilities then due and payable to the Lenders or owing (but not due
and payable) to the Lenders, as the case may be, provided that:

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

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

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

     2.14 Defaulting Lenders.

     (a) Notwithstanding anything to the contrary contained in this Agreement, if any Lender
becomes a Defaulting Lender, then, until such time as that Lender is no longer a Defaulting Lender,
to the extent permitted by applicable Law:

     (i) Waivers and Amendments. That Defaulting Lender’s right to approve or
disapprove any amendment, waiver or consent with respect to this Agreement shall be
restricted as set forth in Section 10.01.

     (ii) Reallocation of Payments. Any payment of principal, interest, fees or
other amounts received by the Administrative Agent for the account of that Defaulting Lender
(whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise,
and including any amounts made available to the Administrative Agent by that Defaulting
Lender pursuant to Section 10.08), shall be applied at such time or times as may be
determined by the Administrative

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Agent as follows: first, to the payment of any amounts owing by that Defaulting Lender
to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any
amounts owing by that Defaulting Lender to the L/C Issuer or Swing Line Lender hereunder;
third, if so determined by the Administrative Agent or requested by the L/C Issuer or Swing
Line Lender, to be held as Cash Collateral for future funding obligations of that Defaulting
Lender of any participation in any Swing Line Loan or Letter of Credit; fourth, as the
Borrower may request (so long as no Default or Event of Default exists), to the funding of
any Loan in respect of which that Defaulting Lender has failed to fund its portion thereof
as required by this Agreement, as determined by the Administrative Agent; fifth, if so
determined by the Administrative Agent and the Borrower, to be held in a non-interest
bearing deposit account and released in order to satisfy obligations of that Defaulting
Lender to fund Loans under this Agreement; sixth, to the payment of any amounts owing to the
Lenders, the L/C Issuer or Swing Line Lender as a result of any judgment of a court of
competent jurisdiction obtained by any Lender, the L/C Issuer or Swing Line Lender against
that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations
under this Agreement; seventh, so long as no Default or Event of Default exists, to the
payment of any amounts owing to the Borrower as a result of any judgment of a court of
competent jurisdiction obtained by the Borrower against that Defaulting Lender as a result
of that Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to
that Defaulting Lender or as otherwise directed by a court of competent jurisdiction;
provided that if (x) such payment is a payment of the principal amount of any Loans
or L/C Borrowings in respect of which that Defaulting Lender has not fully funded its
appropriate share and (y) such Loans or L/C Borrowings were made at a time when the
conditions set forth in Section 4.02 were satisfied or waived, such payment shall be
applied solely to pay the Loans of, and L/C Borrowings owed to, all non-Defaulting Lenders
on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Borrowings
owed to, that Defaulting Lender. Any payments, prepayments or other amounts paid or payable
to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender
or to post Cash Collateral pursuant to this Section 2.14(a)(ii) shall be deemed paid
to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto.

     (iii) Certain Fees. That Defaulting Lender (x) shall not be entitled to
receive any commitment fee pursuant to Section 2.09(a) for any period during which
that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such
fee that otherwise would have been required to have been paid to that Defaulting Lender) and
(y) shall be limited in its right to receive Letter of Credit Fees as provided in
Section 2.03(i).

     (iv) Reallocation of Applicable Percentages to Reduce Fronting Exposure.
During any period in which there is a Defaulting Lender, for purposes of computing the
amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund
participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03
and 2.04, the “Applicable Percentage” of each non-Defaulting Lender shall be computed
without giving effect to the Commitment of that Defaulting Lender; provided, that,
(i) each such reallocation shall be given effect only if, at the date the applicable Lender
becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate
obligation of each non-Defaulting Lender to acquire, refinance or fund participations in
Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of
(1) the Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding
Amount of the Committed Loans of that Lender.

     (v) Borrower May Terminate Commitments. The Borrower may terminate the unused
amount of the Revolving Credit Commitment of a Defaulting Lender upon not less than three
(3) Business Days’ prior notice to the Administrative Agent (which will promptly notify the

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Lenders thereof), and in such event the provisions of Section 2.14(a)(ii) above
will apply to all amounts thereafter paid by the Borrower for the account of such Defaulting
Lender under this Agreement (whether on account of principal, interest, fees, indemnity or
other amounts); provided that such termination will not be deemed to be a waiver or release
of any claim the Borrower, the Administrative Agent, the L/C Issuer, the Swing Line Lender
or any Lender may have against such Defaulting Lender.

     (b) Defaulting Lender Cure. If the Borrower, the Administrative Agent, Swing Line
Lender and the L/C Issuer agree in writing in their sole discretion that a Defaulting Lender should
no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties
hereto, whereupon as of the effective date specified in such notice and subject to any conditions
set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender
will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or
take such other actions as the Administrative Agent may determine to be necessary to cause the
Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to be held
on a pro rata basis by the Lenders in accordance with their Applicable Percentages (without giving
effect to Section 2.14(a)(iv)), whereupon that Lender will cease to be a Defaulting Lender;
provided that no adjustments will be made retroactively with respect to fees accrued or
payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and
provided, further, that except to the extent otherwise expressly agreed by the
affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or
release of any claim of any party hereunder arising from that Lender’s having been a Defaulting
Lender.

     2.15 Borrower Repurchases. So long as no Default or Event of Default has occurred and
is continuing, the Borrower may from time to time purchase, in accordance with this Section
2.15, Term Loans from one or more Lenders on a non-pro rata basis pursuant to a Dutch auction
(open to all Lenders), on terms to be agreed between the Borrower and the Lenders participating in
such Dutch auction; provided that (i) the procedures with respect to any such Dutch auction
shall be approved by the Administrative Agent, (ii) any principal and accrued interest and unpaid
interest on the Term Loans purchased by the Borrower shall be cancelled and such Term Loans shall
no longer be outstanding for all purposes of this Agreement and the other Loan Documents, (iii) no
proceeds of the Revolving Credit Facility shall be used to consummate such purchase and (iv) both
immediately before and after giving effect to such purchase, the Borrower shall have unrestricted
cash and Cash Equivalents (excluding any outstanding Revolving Credit Loans and Swing Line Loans)
of not less than $75,000,000. By initiating a Dutch auction and repurchasing Loans pursuant to
this Section 2.15, the Borrower shall be deemed to represent as of the date of such notice
and purchase that the Borrower is not in possession of any information regarding any Loan Party,
its assets, its ability to perform its Obligations or any other matter that may be material to a
decision by any Term Lender to participate in such Dutch auction or participate in any of the
transactions contemplated thereby, that has not previously been disclosed to the Administrative
Agent and the Lenders.

ARTICLE III

TAXES, YIELD PROTECTION AND ILLEGALITY

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

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subsection (e) below.

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

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

     (c) Tax Indemnifications. (i) Without limiting the provisions of subsection (a) or
(b) above, the Borrower shall, and does hereby, indemnify the Administrative Agent, each Lender and
the L/C Issuer, and shall make payment in respect thereof within 10 days after demand therefor, for
the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes
imposed or asserted on or attributable to amounts payable under this Section) withheld or deducted
by the Borrower or the Administrative Agent or paid by the Administrative Agent, such Lender or the
L/C Issuer, as the case may be, and any penalties, interest and reasonable expenses arising
therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority; provided,
however, that payment of penalties, interest and other expenses shall not be required to
the extent attributable to the gross negligence or willful misconduct of the Person seeking
indemnification. The Borrower shall also, and does hereby, indemnify the Administrative Agent, and
shall make payment in respect thereof within 10 days after demand therefor, for any amount which a
Lender or the L/C Issuer for any reason fails to pay indefeasibly to the Administrative Agent as
required by clause (ii) of this subsection. A certificate as to the amount of any such payment or
liability delivered to the Borrower by a Lender or the L/C Issuer (with a copy to the
Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or
the L/C Issuer, shall be conclusive absent manifest error.

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

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agreements in this clause (ii) shall survive the resignation and/or replacement of the
Administrative Agent, any assignment of rights by, or the replacement of, a Lender or the
L/C Issuer, the termination of the Aggregate Commitments and the repayment, satisfaction or
discharge of all other Obligations.

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

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

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

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

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

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

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

     (III) executed originals of Internal Revenue Service Form W-8IMY

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and all required supporting documentation,

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

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

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

     (f) Treatment of Certain Refunds. Unless required by applicable Laws, at no time
shall the Administrative Agent have any obligation to file for or otherwise pursue on behalf of a
Lender or the L/C Issuer, or have any obligation to pay to any Lender or the L/C Issuer, any refund
of Taxes withheld or deducted from funds paid for the account of such Lender or the L/C Issuer, as
the case may be. If the Administrative Agent, any Lender or the L/C Issuer determines, in its sole
discretion, that it has received a refund of any Taxes or Other Taxes as to which it has been
indemnified by the Borrower or with respect to which the Borrower has paid additional amounts
pursuant to this Section, it shall pay to the Borrower an amount equal to such refund (but only to
the extent of indemnity payments made, or additional amounts paid, by the Borrower under this
Section with respect to the Taxes or Other Taxes giving rise to such refund), net of all
out-of-pocket expenses incurred by the Administrative Agent, such Lender or the L/C Issuer, as the
case may be, and without interest (other than any interest paid by the relevant Governmental
Authority with respect to such refund), provided that the Borrower, upon the request of the
Administrative Agent, such Lender or the L/C Issuer, agrees to repay the amount paid over to the
Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental
Authority) to the Administrative Agent, such Lender or the L/C Issuer in the event the
Administrative Agent, such Lender or the L/C Issuer is required to repay such refund to such
Governmental Authority. This subsection shall not be construed to require the Administrative
Agent, any Lender or the L/C Issuer to make available its tax returns (or any other information
relating to its taxes that it deems confidential) to the Borrower or any other Person.

     3.02 Illegality. If any Lender determines that any Law has made it unlawful, or that
any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable
Lending Office to make, maintain or fund Eurodollar Rate Loans, or to determine or charge interest
rates based upon the Eurodollar Rate, or any Governmental Authority has imposed material
restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars
in the London interbank market, then, on
notice thereof by such Lender to the Borrower through the Administrative Agent, any obligation
of such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Loans to
Eurodollar Rate

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Loans shall be suspended until such Lender notifies the Administrative Agent and
the Borrower that the circumstances giving rise to such determination no longer exist. Upon
receipt of such notice, the Borrower shall, upon demand from such Lender (with a copy to the
Administrative Agent), prepay or, if applicable, convert all Eurodollar Rate Loans of such Lender
to Base Rate Loans, either on the last day of the Interest Period therefor, if such Lender may
lawfully continue to maintain such Eurodollar Rate Loans to such day, or immediately, if such
Lender may not lawfully continue to maintain such Eurodollar Rate Loans. Upon any such prepayment
or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted.

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

     3.04 Increased Costs; Reserves on Eurodollar Rate Loans. (a) Increased Costs
Generally. If any Change in Law shall:

     (i) impose, modify or deem applicable any reserve, special deposit, compulsory loan,
insurance charge or similar requirement against assets of, deposits with or for the account
of, or credit extended or participated in by, any Lender (except any reserve requirement
contemplated by Section 3.04(e)) or the L/C Issuer;

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

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

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

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

     (c) Certificates for Reimbursement. A certificate of a Lender or the L/C Issuer
setting forth the amount or amounts necessary to compensate such Lender or the L/C Issuer or its
holding company, as the case may be, as specified in subsection (a) or (b) of this Section and
delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such
Lender or the L/C Issuer, as the case may be, the amount shown as due on any such certificate
within 10 days after receipt thereof.

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

     (e) Reserves on Eurodollar Rate Loans. The Borrower shall pay to each Lender, as long
as such Lender shall be required to maintain reserves with respect to liabilities or assets
consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency
liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan
equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by
such Lender in good faith, which determination shall be conclusive), which shall be due and payable
on each date on which interest is payable on such Loan, provided the Borrower shall have
received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such
additional interest from such Lender. If a Lender fails to give notice 10 days prior to the
relevant Interest Payment Date, such additional interest shall be due and payable 10 days from
receipt of such notice.

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

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

     (b) any failure by the Borrower (for a reason other than the failure of such Lender to make a

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Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in
the amount notified by the Borrower; or

     (c) any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest
Period therefor as a result of a request by the Borrower pursuant to Section 10.13;

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

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

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

     (b) Replacement of Lenders. If any Lender requests compensation under Section
3.04, or if the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 3.01, the Borrower
may replace such Lender in accordance with Section 10.13.

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

ARTICLE IV

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

     4.01 Conditions of Initial Credit Extension. The obligation of the L/C Issuer and
each Lender to make its initial Credit Extension hereunder is subject to satisfaction or waiver of
the following conditions precedent:

     (a) The Administrative Agent’s receipt of the following, each of which shall be originals or
telecopies (followed promptly by originals) unless otherwise specified, each properly executed by a
Responsible Officer of the signing Loan Party, each dated the Closing Date (or, in the case of
certificates

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of governmental officials, a recent date before the Closing Date) and each in form and
substance satisfactory to the Administrative Agent:

     (i) executed counterparts of this Agreement, in number reasonably requested by the
Administrative Agent;

     (ii) a Note executed by the Borrower in favor of each Lender requesting a Note;

     (iii) a Guarantee and Collateral agreement, in substantially the form of
Exhibit F (together with each other guarantee and collateral agreement and guarantee
and collateral agreement supplement delivered pursuant to Section 6.08, the
“Security Agreement”), duly executed by each Loan Party and the Collateral Agent,
together with:

     (A) the results of a lien search listing all effective financing statements
that name any Loan Party as debtor, together with copies of such financing
statements,

     (B) financing statements suitable in form for filing naming each Loan Party as
a debtor and the Collateral Agent as the secured party, or other similar instruments
or documents to be filed under the UCC of all jurisdictions necessary to perfect the
security interests of the Collateral Agent pursuant to such Security Agreement, and

     (C) evidence that all other action that the Administrative Agent or the
Collateral Agent may deem necessary or desirable in order to perfect the Liens
created under the Security Agreement has been taken (including receipt of duly
executed payoff letters and UCC-3 termination statements);

     (iv) an intercreditor agreement, in substantially the form of Exhibit G, duly
executed by each Loan Party, the Collateral Agent and the trustees with respect to the
Senior Notes (the “Intercreditor Agreement”).

     (v) to the extent required by the Security Agreement, the Intellectual Property
Security Agreements, duly executed by each Loan Party, with respect to Intellectual Property
included in the Collateral, together with evidence that all action that the Administrative
Agent or the Collateral Agent may deem necessary or desirable in order to perfect the Liens
created under the Intellectual Property Security Agreement has been taken or shall be taken
within the time specified by the Security Agreement (or, if not specified therein, as
specified by the Administrative Agent or the Collateral Agent);

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

     (vii) such documents and certifications as the Administrative Agent may reasonably
require to evidence that each Loan Party is duly organized or formed, and that each Loan
Party is validly existing, in good standing and qualified to engage in business in is
jurisdiction of organization and each jurisdiction where its ownership, lease or operation
of properties or the conduct of its business requires such qualification, except to the
extent that failure to do so could not reasonably be expected to have a Material Adverse
Effect;

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     (viii) a favorable opinion of Skadden, Arps, Slate, Meagher & Flom LLP, counsel to the
Loan Parties, addressed to the Administrative Agent and each Lender, in form and substance
reasonably satisfactory to the Administrative Agent;

     (ix) a certificate of a Responsible Officer of each Loan Party either (A) attaching
copies of all consents, licenses and approvals required in connection with the consummation
by such Loan Party of the Transaction and the execution, delivery and performance by such
Loan Party and the validity against such Loan Party of the Loan Documents to which it is a
party, and such consents, licenses and approvals shall be in full force and effect, or (B)
stating that no such consents, licenses or approvals are so required;

     (x) a certificate signed by a Responsible Officer of the Borrower certifying that the
conditions specified in Sections 4.02(a) and (b) have been satisfied;

     (xi) a certificate signed by a Responsible Officer of Holdings certifying (A) that
there has been no event or circumstance since December 31, 2009 that has had, or could be
reasonably expected to have, either individually or in the aggregate, a Material Adverse
Effect, (B) a calculation of the Consolidated Leverage Ratio as of the last day of the
Fiscal Quarter of Holdings most recently ended at least 45 days prior to the Closing Date,
after giving pro forma effect to the Transaction, which Consolidated Leverage Ratio shall
not be in excess of 4.20:1.00 and (C) that there is no pending or, to the knowledge of
Holdings or any of its Subsidiaries, threatened litigation, action, proceeding or labor
controversy (i) except as disclosed in Schedule 5.07, against Holdings or any of its
Subsidiaries, or any of their respective properties, businesses, assets or revenues, which
could reasonably be expected to have a Material Adverse Effect, or (ii) which purports to
affect the legality, validity or enforceability of any Loan Document, the Transaction
Documents or the Transaction;

     (xii) (A) the Audited Financial Statements and the audited (without any Impermissible
Qualification) consolidated balance sheet of Swift Corporation and its Subsidiaries for
Fiscal Year 2007 and Fiscal Year 2008, and the related consolidated statements of income or
operations, shareholders’ equity and cash flows for each such Fiscal Year of Swift
Corporation and its Subsidiaries, including the notes thereto and (B) the unaudited
consolidated balance sheet of Swift Corporation and its Subsidiaries for the Fiscal Quarters
ended March 31, 2010, June 30, 2010 and September 30, 2010 and the related consolidated
statements of income or operations, shareholders’ equity and cash flows for each such Fiscal
Quarter of Swift Corporation and its Subsidiaries;

     (xiii) forecasts prepared by management of Holdings of consolidated balance sheets and
statements of income or operations and cash flows of Holdings and its Subsidiaries through
December 31, 2015;

     (xiv) a certificate attesting to the Solvency of the Loan Parties, taken as a whole,
before and after giving effect to the Transaction, from Holdings’ chief financial officer;

     (xv) evidence that all insurance required to be maintained pursuant to the Loan
Documents has been obtained and is in effect, together with the certificates of insurance,
naming the Collateral Agent, on behalf of the Lenders, as an additional insured or loss
payee, as the case may be, under all insurance policies maintained with respect to the
assets and properties of the Loan Parties that constitutes Collateral;

     (xvi) evidence that the Existing Credit Agreement has been, or concurrently with the

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Closing Date is being, terminated (other than letters of credit under the Existing Credit
Agreement that will be deemed Letters of Credit hereunder) and all Liens securing
obligations under the Existing Credit Agreement have been, or concurrently with the Closing
Date are being, released;

     (xvii) evidence that the Shareholder Loans have been, or concurrently with the Closing
Date are being, cancelled; and

     (xviii) evidence that any outstanding interest rate Swap Contracts to which Holdings or
any of its Subsidiaries is a party has been, or concurrently with the Closing Date is being,
terminated, and all amounts payable by Holdings or any such Subsidiary in connection with
such termination has been, or concurrently with the Closing Date is being, paid.

     (b) (i) All fees required to be paid to the Administrative Agent and the Joint Lead Arrangers
on or before the Closing Date shall have been, or concurrently with the Closing Date are being,
paid and (ii) all fees required to be paid to the Lenders on or before the Closing Date shall have
been, or concurrently with the Closing Date are being, paid.

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

     (d) The Collateral Agent’s receipt of the following, each of which shall be originals and each
in form and substance satisfactory to the Collateral Agent:

     (i) certificates (in the case of Capital Securities that are certificated securities
(as defined in the UCC)) evidencing all of the issued and outstanding Capital Securities
owned by each Loan Party in its U.S. Subsidiaries and 65% of the issued and outstanding
Voting Securities of each Foreign Subsidiary (together with all the issued and outstanding
non-voting Capital Securities of such Foreign Subsidiary) directly owned by each Loan Party,
which certificates in each case shall be accompanied by undated instruments of transfer duly
executed in blank, or for any Capital Securities that are uncertificated securities (as
defined in the UCC), confirmation and evidence that the security interest therein has been
transferred to and perfected by the Administrative Agent for the benefit of the Secured
Parties in accordance with Articles 8 and 9 of the UCC and all laws otherwise applicable to
the perfection of the pledge of such Capital
Securities; and

     (ii) each promissory note (if any) pledged to the Collateral Agent pursuant to the
Security Agreement endorsed (without recourse) in blank (or accompanied by an executed
transfer form in blank) by the pledgor thereof to the extent delivery thereof to the
Collateral Agent is required under the Security Agreement;

     (e) There shall not have occurred and be continuing any default or event of default under the
Existing Notes Indentures or any documents governing any Qualified Receivables Transaction.

     (f) The Borrower shall have received a corporate rating from S&P, a corporate family rating
from Moody’s and a rating with respect to the Loans from each of Moody’s and S&P.

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     (g) Holdings shall have executed an underwriting agreement with respect to a Public Offering
of its common stock and, concurrently with the Closing Date, such Public Offering shall have been
consummated.

     (h) Concurrently with the Closing Date, the sale of the Senior Notes shall have been
consummated.

     (i) The Borrower shall have tendered for, tenders shall have been received for, and all
conditions precedent to the consummation of such tender shall have been satisfied with respect to,
at least 66 2/3% of the Floating Rate Notes and at least 66 2/3% of the Fixed Rate Notes (it being
agreed that all Floating Rate Notes and Fixed Rate Notes covered under that certain letter
agreement with Apollo Fund VI BC, L.P. and Lily, L.P. shall be deemed included in such tendered
notes).

Without limiting the generality of the provisions of the last paragraph of Section 9.03,
for purposes of determining compliance with the conditions specified in this Section 4.01,
each Lender that has signed this Agreement shall be deemed to have consented to, approved or
accepted or to be satisfied with, each document or other matter required thereunder to be consented
to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall
have received notice from such Lender prior to the proposed Closing Date specifying its objection
thereto.

     4.02 Conditions to all Credit Extensions. The obligation of each Lender to honor any
Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of
Loans to the other Type, or a continuation of Eurodollar Rate Loans) is subject to the satisfaction
or waiver of the following conditions precedent:

     (a) The representations and warranties set forth in each Loan Document shall be true and
correct in all material respects with the same effect as if then made (unless stated to relate
solely to an earlier date, in which case such representations and warranties shall have been true
and correct in all material respects as of such earlier date), in each case other than
representations and warranties which are subject to a materiality qualifier, in which case such
representations and warranties shall be (or shall have been) true and correct.

     (b) No Default or Event of Default shall have occurred and be continuing, or would result from
such proposed Credit Extension or from the application of the proceeds thereof.

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

     (d) Each Request for Credit Extension (other than a Committed Loan Notice requesting only a
conversion of Loans to the other Type or a continuation of Eurodollar Rate Loans) submitted by the
Borrower shall be deemed to be a representation and warranty that the conditions specified in
Sections 4.02(a) and (b) have been satisfied on and as of the date of the
applicable Credit Extension.

ARTICLE V

REPRESENTATIONS AND WARRANTIES

     Each of Holdings and the Borrower represents and warrants to the Administrative Agent and the
Lenders that:

     5.01 Organization. Each Loan Party is validly organized and existing and in good
standing

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under the laws of the state or jurisdiction of its incorporation or organization, is duly
qualified to do business and is in good standing as a foreign entity in each jurisdiction where the
nature of its business requires such qualification (except in jurisdictions where the failure to be
so qualified or in good standing has not had and could not reasonably be expected to result in a
Material Adverse Effect), and each Loan Party has full power and authority and holds all requisite
governmental licenses, permits and other approvals to enter into and perform its Obligations under
each Loan Document to which it is a party, to own and hold under lease its property and to conduct
its business substantially as currently conducted by it (except, other than with respect to
Holdings and the Borrower, where the failure to do so could not reasonably be expected to result in
a Material Adverse Effect).

     5.02 Due Authorization; Non-Contravention. The execution, delivery and performance by
each Loan Party of each Loan Document executed or to be executed by it, each Loan Party’s
participation in the consummation of all aspects of the Transaction, and the execution, delivery
and performance by Holdings, the Borrower or (if applicable) any other Loan Party of the agreements
executed and delivered by it in connection with the Transaction are in each case within such
Person’s powers, have been duly authorized by all necessary action, and do not

     (a) contravene any (i) Loan Party’s Organization Documents, if applicable, (ii) court decree
or order binding on or affecting any Loan Party or (iii) law or governmental regulation binding on
or affecting any Loan Party; or

     (b) result in (i) or require the creation or imposition of, any Lien on, except (in the case
of both clause (a) above and this clause (b)) as permitted by this Agreement, or (ii) a default
under any material Contractual Obligation binding on or affecting any Loan Party.

     5.03 Governmental Approval; Regulation. No authorization or approval or other action
by, and no notice to or filing with, any Governmental Authority or other Person (other than those
that have been, or on the Closing Date will be, duly obtained or made and which are, or on the
Closing Date will be, in full force and effect) is required for the due execution, delivery or
performance by any Loan Party of any Loan Document to which it is a party, or for the due
execution, delivery and/or performance of the Loan Documents, in each case by the parties thereto
or the consummation of the Transaction except, to the extent such failure to obtain such approval
or to provide such notice (other than in respect of a Governmental Authority) could not
reasonably be expected to result in a Material Adverse Effect. Neither Holdings nor any of its
Subsidiaries is an “investment company” within the meaning of the Investment Company Act of 1940,
as amended.

     5.04 Validity. Each Loan Document to which any Loan Party is a party constitutes the
legal, valid and binding obligation of such Loan Party, enforceable against such Loan Party in
accordance with their respective terms (except, in any case, as such enforceability may be limited
by applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights
generally and by principles of equity).

     5.05 Financial Information. The consolidated financial statements of Holdings and its
Subsidiaries furnished to the Administrative Agent and each Lender pursuant to Section
4.01(a)(xii) have been prepared in accordance with GAAP consistently applied, and present
fairly in all material respects the consolidated financial condition of the Persons covered thereby
as at the dates thereof and the results of their operations for the periods then ended, subject
with respect to unaudited periods to normal year-end adjustments. All balance sheets, all
statements of income and of cash flow and all other financial information of Holdings and its
Subsidiaries furnished pursuant to Section 6.01 have been and will for periods following
the Closing Date be prepared in accordance with GAAP consistently applied with the financial
statements delivered pursuant to Section 4.01(a)(xii), and do or will present fairly in all
material

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respects the consolidated financial condition of the Persons covered thereby as at the
dates thereof and the results of their operations for the periods then ended, subject with respect
to unaudited periods to normal year-end adjustments.

     5.06 No Material Adverse Change. Since December 31, 2009, there has been no event or
circumstance that has had, or could be reasonably expected to have, either individually or in the
aggregate, a Material Adverse Effect.

     5.07 Litigation; Labor Controversies. There is no pending or, to the knowledge of
Holdings or any of its Subsidiaries, threatened litigation, action, proceeding or labor controversy
(i) except, as of the Closing Date, as disclosed in Schedule 5.07, against Holdings any of
its Subsidiaries, or any of their respective properties, businesses, assets or revenues, which
could reasonably be expected to have a Material Adverse Effect, and no development has occurred in
any labor controversy, litigation, arbitration or governmental investigation or proceeding
disclosed in Schedule 5.07 that could reasonably be expected to have a Material Adverse
Effect, or (ii) which purports to affect the legality, validity or enforceability of any Loan
Document, the Transaction Documents or the Transaction.

     5.08 Subsidiaries. Holdings has no Subsidiaries, except those Subsidiaries which are
identified in Schedule 5.08, or which are permitted to have been organized or acquired in
accordance with Section 7.05 or 7.10. As of the Closing Date, Schedule
5.08 identifies each Loan Party, and sets forth the ownership interests of each Loan Party in
each Subsidiary.

     5.09 Ownership of Properties. Holdings and each of its Subsidiaries owns (i) in the case of owned real property, good and
marketable fee title to, and (ii) in the case of owned personal property, good and valid title to,
or, in the case of leased real or personal property, valid and enforceable leasehold interests (as
the case may be) in, all of its tangible properties and assets of any nature whatsoever, free and
clear in each case of all Liens or claims, except for minor defects in title that do not materially
interfere with its ability to conduct business or to utilize such assets for their intended
purposes and Liens permitted pursuant to Section 7.03. As of the Closing Date, set forth in
Schedule 5.09 is a true and complete list of all real property owned or leased by the Loan
Parties, and each Mortgaged Property is identified therein.

     5.10 Taxes. Holdings and each of its Subsidiaries has filed all tax returns and
reports required by law to have been filed by it and has paid all Taxes thereby shown to be due and
owing, except any such Taxes which are being diligently contested in good faith by appropriate
proceedings and for which adequate reserves in accordance with GAAP shall have been set aside on
its books, except to the extent the failure to file such tax returns or pay such Taxes (in each
case other than with respect to federal Taxes) has not had and could not reasonably be expected to
result in a Material Adverse Effect.

     5.11 Pension and Welfare Plans. Except as could not reasonably be expected to result
in a Material Adverse Effect, (i) no ERISA Event has occurred and no condition exists with respect
to any Pension Plan and (ii) no Pension Plan has any Unfunded Pension Liabilities. As of the
Closing Date, except as disclosed in Schedule 5.11, no Loan Party or ERISA Affiliate has
any contingent liability with respect to any post-retirement benefit under a Welfare Plan, other
than liability for continuation coverage described in Part 6 of Title I of ERISA.

     5.12 Environmental Warranties.

     Except as set forth in Schedule 5.12:

     (a) all facilities and property (including underlying groundwater) owned or leased by

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Holdings or any of its Subsidiaries have been, and continue to be, owned or leased by
Holdings and its Subsidiaries in compliance with all Environmental Laws, except to the
extent the failure to be in compliance could not reasonably be expected to result in a
Material Adverse Effect;

     (b) there have been no past, and there are no pending or threatened (i) claims,
complaints, notices or requests for information received by Holdings or any of its
Subsidiaries with respect to any alleged violation of any Environmental Law, or (ii)
complaints, notices or inquiries to Holdings or any of its Subsidiaries regarding potential
liability under any Environmental Law, in each case, that singly or in the aggregate have
had, or could reasonably be expected to have, a Material Adverse Effect;

     (c) there have been no Releases of Hazardous Materials at, on or under any property now
or previously owned or leased by Holdings or any of its Subsidiaries that have, or could
reasonably be expected to have, a Material Adverse Effect;

     (d) Holdings and its Subsidiaries have been issued and are in compliance with all
permits, certificates, approvals, licenses and other authorizations relating to
environmental
matters, except to the extent the non-issuance or the failure to be in compliance could
not reasonably be expected to result in a Material Adverse Effect;

     (e) no property now or, to the knowledge of Holdings or any of its Subsidiaries,
previously owned or leased by Holdings or any of its Subsidiaries is listed or proposed for
listing (with respect to owned property only) on the National Priorities List pursuant to
CERCLA, on the CERCLIS or on any similar state list of sites requiring investigation or
clean-up;

     (f) there are no underground storage tanks, active or abandoned, including petroleum
storage tanks, on or under any property now or previously owned or leased by Holdings or any
of its Subsidiaries that, singly or in the aggregate, have, or could reasonably be expected
to have, a Material Adverse Effect;

     (g) neither Holdings nor any Subsidiary has directly transported or directly arranged
for the transportation of any Hazardous Material to any location which is listed or proposed
for listing on the National Priorities List pursuant to CERCLA, on the CERCLIS or on any
similar state list or which is the subject of federal, state or local enforcement actions or
other investigations which may lead to material claims against Holdings or such Subsidiary
for any remedial work, damage to natural resources or personal injury, including claims
under CERCLA, except that could not reasonably be expected to have a Material Adverse
Effect;

     (h) there are no polychlorinated biphenyls or friable asbestos present at any property
now or previously owned or leased by Holdings or any Subsidiary that, singly or in the
aggregate, have, or could reasonably be expected to have, a Material Adverse Effect; and

     (i) no conditions exist at, on or under any property now or previously owned or leased
by Holdings which, with the passage of time, or the giving of notice or both, would give
rise to liability under any Environmental Law that singly or in the aggregate have had, or
could reasonably be expected to have, a Material Adverse Effect.

     5.13 Accuracy of Information. None of the factual information (other than projected
financial information and general economic or industry data), when taken as a whole, heretofore or
contemporaneously, and furnished in writing, to any Secured Party by or (with the knowledge of
Holdings or Borrower) on behalf of any Loan Party in connection with any Loan Document or any

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transaction contemplated hereby (including the Transaction) contains, as of the date such
information was furnished (and as modified or supplemented by other information so furnished) any
untrue statement of a material fact, or omits to state any material fact necessary to make any
information, in light of the circumstances under which they were made, not materially misleading.
With respect to projected financial information, Holdings and the Borrower represent only that such
information was prepared in good faith based upon assumptions believed to be reasonable at the time
prepared, it being understood and acknowledged that projections are as to future events and are not
to be viewed as facts and are subject to significant uncertainties and contingencies, many of which
are beyond the control of Holdings and the Borrower, and no assurances can be given that any
particular projections will be realized and that actual results during the period or periods
covered by the projections may differ significantly from the projected results and such differences
may be material.

     5.14 Regulations U and X. Neither Holdings nor any of its Subsidiaries is engaged in
the business of extending credit for the purpose of buying or carrying margin stock, and no
proceeds of any Credit Extensions will
be used to purchase or carry margin stock in a way which violates, or would be inconsistent
with, FRB Board Regulation U or Regulation X. Terms for which meanings are provided in FRB
Regulation U or Regulation X or any regulations substituted therefor, as from time to time in
effect, are used in this Section with such meanings.

     5.15 Solvency. The Borrower and the Guarantors, taken as a whole, on a consolidated
basis, both before and after giving effect to any Credit Extension, are Solvent.

     5.16 No Default. Neither any Loan Party nor any Subsidiary thereof is in default
under or with respect to, or a party to, any Contractual Obligation that could, either individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default has
occurred and is continuing or would result from the consummation of the transactions contemplated
by this Agreement or any other Loan Document.

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

     5.18 Insurance. The Borrower and its Subsidiaries maintain insurance with financially
sound and reputable insurance companies (including Captive Insurance Companies), in such amounts,
with such deductibles and covering such risks as are consistent with past practices of Holdings and
its Subsidiaries.

     5.19 Collateral Documents. (a) The Security Agreement and each other Security
Document is, or upon execution, will be, effective to create in favor of the Collateral Agent, for
the benefit of the Secured Parties, a valid security interest in the Collateral described therein
and proceeds thereof (to the extent a security interest can be created therein under the UCC). In
the case of the pledged equity interests described in the Security Agreement, when stock or
interest certificates representing such pledged equity interests (along with properly completed
stock or interest powers endorsing the pledged equity interest and executed by the owner of such
shares or interests are delivered to the Collateral Agent), and in the case of the other Collateral
described in the Security Agreement or any other Security Document (other than deposit accounts and
Motor Vehicles), when financing statements in appropriate form are filed in the appropriate
offices, all other filings and recordations contemplated hereby and by the Collateral Documents are
properly filed and recorded, the Collateral Agent, for the benefit of the Secured Parties, shall
have a fully perfected Lien on, and security interest in, all right, title and interest of the Loan
Parties

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in such Collateral and the proceeds thereof, as security for the Obligations, in each case
prior and superior in right to any other Person (except Liens permitted by Section 7.03).
In the case of Collateral that consists of deposit accounts, when a control agreement is executed
and delivered by all parties thereto with respect to such accounts, the Collateral Agent, for the
benefit of the Secured Parties, shall have a fully perfected Lien on, and security interest in, all
right, title and interest of the Loan Parties in such Collateral and the proceeds
thereof, as security for the Obligations, prior and superior to any other Person except as
provided under the applicable control agreement with respect to the financial institution party
thereto. In the case of Collateral that consists of Motor Vehicles, when the recordation or
notation of the Collateral Agent’s security interest on the certificates of title or ownership in
respect of such Motor Vehicle is made, the Collateral Agent, for the benefit of the Secured
Parties, shall have a fully perfected Lien on, and security interest in, all right, title and
interest of the Loan Parties in such Collateral and the proceeds thereof, as security for the
Obligations, in each case prior and superior in right to any other Person (except Liens permitted
by Section 7.03).

     (b) Each of the Mortgages is effective to create in favor of the Collateral Agent, for
the benefit of the Secured Parties, a valid security interest in the Mortgaged Properties
described therein and proceeds thereof, and when the Mortgages are filed in the offices
specified on Schedule 5.19(b), each such Mortgage shall constitute a fully perfected Lien
on, and security interest in, all right, title and interest of the Loan Parties in the
Mortgaged Properties and the proceeds thereof, as security for the Obligations (as defined
in the relevant Mortgage), in each case prior and superior in right to any Person (except
Liens permitted by Section 7.03)

ARTICLE VI

AFFIRMATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding, each
of Holdings and Borrower will, and will cause each of its Subsidiaries to, perform or cause to be
performed the obligations set forth below.

     6.01 Financial Information, Reports, Notices, etc. Holdings will furnish to the
Administrative Agent (and the Administrative Agent will make available to each Lender) copies of
the following financial statements, reports, notices and information:

     (a) within 45 days after the end of each of the first three Fiscal Quarters of each
Fiscal Year (or if Holdings is required to file such information on a Form 10-Q with the
SEC, promptly following such filing, but in no event later than 45 days after the end of the
applicable Fiscal Quarter, unless Holdings obtains an extension of its Form 10-Q filing date
as permitted under the Exchange Act, in which case, such information will be provided
contemporaneously with such filing and in any event no later than the expiration date of
such extension), an unaudited consolidated balance sheet of Holdings and its Subsidiaries as
of the end of such Fiscal Quarter and consolidated statements of income of Holdings and its
Subsidiaries for such Fiscal Quarter and consolidated statements of income and cash flows of
Holdings and its Subsidiaries for the period commencing at the end of the previous Fiscal
Year and ending with the end of such Fiscal Quarter, and including (in each case), in
comparative form the figures for the corresponding Fiscal Quarter in, and year to date
portion of, the immediately preceding Fiscal Year, certified as complete and correct by the
chief financial or accounting Responsible Officer of Holdings (subject to normal year-end
audit adjustments);

     (b) within 90 days after the end of each Fiscal Year (or if Holdings is required to
file

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such information on a Form 10-K with the SEC, promptly following such filing, but in no
event later than 90 days after the end of the applicable Fiscal Year, unless Holdings
obtains an extension of its Form 10-K filing date as permitted under the Exchange Act, in
which case, such
information will be provided contemporaneously with such filing and in any event no
later than the expiration date of such extension), a copy of the consolidated balance sheet
of Holdings and its Subsidiaries, and the related consolidated statements of income and cash
flow of Holdings and its Subsidiaries for such Fiscal Year, setting forth in comparative
form the figures for the immediately preceding Fiscal Year, which (i) shall be audited
(without any Impermissible Qualification) by independent public accountants reasonably
acceptable to the Administrative Agent, and (ii) shall be accompanied by a report from such
accountants including a calculation of the financial covenants set forth in Section
7.04 and stating that, in performing the examination necessary to deliver the audited
financial statements of Holdings, as of the date of delivery, no knowledge was obtained of
any Event of Default, except as specified therein;

     (c) concurrently with the delivery of the financial information pursuant to clauses (a)
and (b) (commencing with the delivery of the financial information pursuant to clause (b)
for the Fiscal Year ending December 31, 2010), a Compliance Certificate, executed by the
chief financial or accounting Responsible Officer of Holdings, (i) showing compliance with
the financial covenants set forth in Section 7.04 and stating that (x) no Default
has occurred and is continuing (or, if a Default has occurred, specifying the details of
such Default and the action that Holdings or a Loan Party has taken or proposes to take with
respect thereto and (y) no change in the generally accepted accounting principles used in
the preparation of the financial statements provided pursuant to Sections 6.01(a) or
(b) has occurred (or if such a change has occurred, Holdings shall provide a
statement of reconciliation conforming such financial statements to GAAP), (ii) stating that
no Subsidiary has been formed or acquired since the delivery of the last Compliance
Certificate (or, if a Subsidiary has been formed or acquired since the delivery of the last
Compliance Certificate, a statement that such Subsidiary has complied with Section
6.08), (iii) indicating (x) the amounts of any Net Cash Proceeds to be applied pursuant
to Section 2.05(b) and (y) in the case of any Net Cash Proceeds in respect of a
Disposition or Casualty Event, the amounts of any such proceeds being retained by the
applicable Loan Party’s pursuant to Section 2.05(b)(ii) and the time period within
which such proceeds are to be, or were, applied, (iv) indicating any changes to the
Schedules to any Security Agreement provided pursuant to the terms of such Security
Agreement, (v) providing the information required with respect to Motor Vehicles required
under [Section 5.6(a)] of the Security Agreement and (vi) in the case of a Compliance
Certificate delivered concurrently with the financial information pursuant to clause
(b), including a calculation of Excess Cash Flow;

     (d) as soon as available and in any event no later than the date the annual financial
statements are delivered pursuant to clause (b), an annual budget, prepared on a
quarterly basis for such Fiscal Year and containing consolidated projected financial
statements (including balance sheets and statements of operations and cash flows) of
Holdings and its Subsidiaries, in substantially the form of the projections previously
delivered to the Administrative Agent;

     (e) as soon as possible and in any event within three days after Holdings or any other
Loan Party obtains knowledge of the occurrence of a Default, a statement of a Responsible
Officer of Holdings or the Borrower setting forth details of such Default and the action
which Holdings or such Loan Party has taken and proposes to take with respect thereto;

     (f) as soon as possible and in any event within three days after Holdings or any other
Loan Party obtains knowledge of (i) the occurrence of any material adverse development with
respect to any litigation, action, proceeding or labor controversy described in Schedule
5.07 or (ii)

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the commencement of any litigation, action, proceeding or labor controversy
of the type and materiality described in Section 5.07, notice thereof and, to the
extent the Administrative Agent requests, copies of all documentation relating thereto;

     (g) promptly after the sending or filing thereof, copies of all reports, notices,
prospectuses and registration statements which any Loan Party files with the SEC or any
national securities exchange;

     (h) promptly upon becoming aware of (i) the occurrence of any ERISA Event; or (ii) the
occurrence of any event with respect to any Pension Plan or Multiemployer Plan which could
result in the incurrence by any Loan Party or any ERISA Affiliate of any liability, fine or
penalty that could reasonably be expected to have a Material Adverse Effect, notice thereof
and, to the extent the Administrative Agent requests, copies of all documentation relating
thereto;

     (i) promptly upon receipt thereof, copies of all “management letters” submitted to
Holdings or any other Loan Party by the independent public accountants referred to in clause
(b) in connection with each audit made by such accountants;

     (j) promptly following the mailing or receipt of any notice or report delivered under
the terms of the Existing Notes Indentures or the Senior Note Documents, copies of such
notice or report;

     (k) all PATRIOT Act Disclosures, to the extent reasonably requested by the
Administrative Agent or any Lender; and

     (l) such other financial and other information as any Lender or the L/C Issuer through
the Administrative Agent may from time to time reasonably request (including information and
reports in such detail as the Administrative Agent may reasonably request with respect to
the terms of and information provided pursuant to the Compliance Certificate).

          Financial statements and other information required to be delivered pursuant to Sections
6.01(a), 6.01(b), 6.01(g) and 6.01(j) shall be deemed to have been
delivered if such statements and information shall have been posted by Holdings on its website or
shall have been posted on the SEC EDGAR system, Intralinks or similar site to which all of the
Lenders have been granted access.

     6.02 Maintenance of Existence; Compliance with Contracts, Laws, etc. Holdings will,
and will cause each of its Subsidiaries to, preserve and maintain its legal existence (except as
otherwise permitted by Section 7.10), and comply in all respects with all applicable laws,
rules, regulations and orders, including the payment (before the same become delinquent), of all
Taxes, imposed upon Holdings or its Subsidiaries or upon their property except to the extent being
diligently contested in good faith by appropriate proceedings and for which adequate reserves in
accordance with GAAP have been set aside on the books of Holdings or its Subsidiaries, as
applicable, except, in each case, to the extent the failure to do so could not reasonably be
expected to result in a Material Adverse Effect.

     6.03 Properties. Holdings will, and will cause each of its Subsidiaries to:

     (a) maintain, preserve, protect and keep its and their respective tangible material
properties in good repair, working order and condition (ordinary wear and tear and casualty
and other insurance events excepted), and make necessary repairs, renewals and replacements
so that the business carried on by Holdings and its Subsidiaries may be properly conducted
at all times, unless Holdings or such Subsidiary determines in good faith that the continued
maintenance of

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such property is no longer economically desirable, necessary or useful to the business
of Holdings or any of its Subsidiaries or the Disposition of such property is otherwise
permitted by Section 7.10 or 7.11; and

     (b) upon the request of the Administrative Agent or the Collateral Agent with respect
to any Mortgaged Property, as promptly as practicable, engage an appraiser and cause to be
delivered an appraisal with respect to such Mortgaged Property; provided that (i)
any initial appraisal with respect to any Mortgaged Property and (ii) a second appraisal
with respect to any Mortgaged Property so requested after the occurrence and during the
continuance of an Event of Default shall, in each case, be at the sole cost and expense of
Holdings and its Subsidiaries.

     6.04 Insurance. Holdings will, and will cause each of its Subsidiaries to maintain:

     (a) insurance with financially sound and reputable insurance companies (including
Captive Insurance Companies) against loss, damage and liability in at least the amounts (and
with only those deductibles), and against such risks as are consistent with past practices
of Holdings and its Subsidiaries; and

     (b) all worker’s compensation, employer’s liability insurance or similar insurance as
may be required under the laws of any state or jurisdiction in which it may be engaged in
business.

     Without limiting the foregoing, all insurance policies required pursuant to this Section shall
(i) name the Administrative Agent on behalf of the Secured Parties as mortgagee (in the case of
property insurance), as applicable, and provide that no cancellation or modification of the
policies will be made without thirty days’ prior written notice to the Administrative Agent and
(ii) be in addition to any requirements to maintain specific types of insurance contained in the
other Loan Documents.

     6.05 Books and Records. Holdings will, and will cause each of its Subsidiaries to,
keep books and records in accordance with GAAP which accurately reflect all of its business affairs
and transactions in all material respects and permit the Administrative Agent, at reasonable times
during normal business hours and intervals upon reasonable notice to Holdings, to visit Holdings’,
the Borrower’s and each of their respective Subsidiaries’ offices, to discuss such Person’s
financial matters with its officers and employees, and its independent public accountants (and
Holdings hereby authorizes such independent public accountant to discuss each such Person’s
financial matters with each Secured Party or their representatives whether or not any
representative of such Person is present, provided that Holdings shall be given the opportunity to
be present at any such meeting) and to examine (and photocopy extracts from) any of its books and
records. Holdings shall pay any fees of such independent public accountant incurred in connection
with any Secured Party’s exercise of its rights pursuant to this Section.

     6.06 Environmental Law Covenant. Holdings will, and will cause each of its
Subsidiaries to:

     (a) use and operate all of its and their facilities and properties in compliance with
all Environmental Laws, keep all necessary permits, approvals, certificates, licenses and
other authorizations relating to environmental matters in effect and remain in compliance
therewith,
and handle all Hazardous Materials in compliance with all applicable Environmental
Laws, except in each case, to the extent the failure to do so could not reasonably be
expected to result in a Material Adverse Effect; and

     (b) promptly notify the Administrative Agent and provide copies upon receipt of all
written claims, complaints, notices or inquiries relating to the condition of its facilities
and

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properties in respect of, or as to compliance with, Environmental Laws, and shall
promptly resolve any non-compliance with Environmental Laws and keep its property free of
any Lien imposed by any Environmental Law, except in each case, to the extent the failure to
do so could not reasonably be expected to result in a Material Adverse Effect.

     6.07 Use of Proceeds. The Borrower will apply the proceeds of (a) the Term Loans to
(i) repay the Existing Credit Agreement and certain other outstanding Indebtedness of the Borrower
and (ii) pay fees and expenses incurred in connection with the Transactions and (b) the Revolving
Credit Loans to provide ongoing working capital and for other general corporate purposes of the
Borrower and its Subsidiaries.

     6.08 Future Guarantors, Security, etc. Holdings will, and will cause each Material
Subsidiary that is a U.S. Subsidiary (other than any Captive Insurance Company, any Receivables
Subsidiary and Swift Academy) to, execute any documents, Filing Statements, agreements and
instruments, and take all further action (including filing Mortgages, providing title insurance
policies, and delivering other documents in support thereof, but only to the extent such documents
were required in connection with the Mortgages provided in accordance with Section 6.11)
that may be required under applicable law, or that the Administrative Agent or the Collateral Agent
may reasonably request, in order to effectuate the transactions contemplated by the Loan Documents
and in order to grant, preserve, protect and perfect the validity and first priority (subject to
Liens permitted by Section 7.03) of the Liens created or intended to be created by the Loan
Documents. With respect to any subsequently acquired or organized U.S. Subsidiary, Holdings will,
within 10 days of such acquisition or organization, (a) cause any amendment to the Security
Agreement to be executed that the Administrative Agent or the Collateral Agent deems necessary or
advisable to grant to the Collateral Agent, for the benefit of the Lenders, a perfected first
priority interest in the Capital Securities of such new Subsidiary that is owned by a Loan Party
(other than any Captive Insurance Company, Swift Academy and, to the extent the pledge of the
Capital Securities of a Receivables Subsidiary is not permitted pursuant to the terms of the
applicable Qualified Receivables Transaction, the Capital Securities of such Receivables
Subsidiary), (b) cause the applicable Loan Party (other than any Captive Insurance Company, Swift
Academy and, to the extent a pledge of the Capital Securities of a Receivables Subsidiary is not
permitted pursuant to the terms of the applicable receivables financing, the owner of the Capital
Securities of such Receivables Subsidiary with respect to such Capital Securities) to deliver to
the Collateral Agent certificates representing such Capital Securities, together with undated stock
powers, in blank, executed and delivered by a duly authorized officer of the relevant Loan Party,
(c) cause each such new Subsidiary that is a Material Subsidiary (other than any Captive Insurance
Company, any Receivables Subsidiary and Swift Academy) to (i) execute a supplement (in form and
substance satisfactory to the Administrative Agent and the Collateral Agent) to the Security
Agreement and each other applicable Loan Document in favor of the Secured Parties and (ii) to take
such actions necessary or advisable to grant to the Collateral Agent for the benefit of the Secured
Parties a perfected first priority security interest in the Collateral described in the Security
Agreement with respect to such new Subsidiary, including the filing of UCC financing statements in
such jurisdictions as may be required by the Security Agreement or by law or as may be requested by
the Administrative Agent or the Collateral Agent. In addition, from time to time, Holdings will,
and will cause each of the Guarantors to, at its cost
and expense, promptly secure the Obligations by pledging or creating, or causing to be pledged
or created (including, with respect to material real property comparable to properties required to
be mortgaged in accordance with Section 6.11, by filing Mortgages, and in connection
therewith providing title insurance policies, and delivering other documents in support thereof,
but only to the extent such documents were required in connection with the Mortgages required to be
provided in accordance with Section 6.11), perfected Liens with respect to such of its
assets and properties as the Administrative Agent or the Collateral Agent shall designate, it being
agreed that it is the intent of the parties that the Obligations shall be secured by, among other
things, substantially all of the assets of Holdings and its Material Subsidiaries that are U.S.
Subsidiaries (other than any Captive Insurance Company, any

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Receivables Subsidiary and Swift
Academy) (including real and personal property (including Mortgaged Property) acquired subsequent
to the Closing Date), subject to the limitations set forth herein and in the other Loan Documents;
provided that neither Holdings nor its Subsidiaries shall be required to pledge more than
65% of the Voting Securities of any Foreign Subsidiary unless such pledge would not result in
materially adverse tax consequences to Holdings and its Subsidiaries, taken as a whole. Such Liens
will be created under the Loan Documents in form and substance reasonably satisfactory to the
Collateral Agent, and Holdings shall deliver or cause to be delivered to the Collateral Agent all
such instruments and documents (including legal opinions, title insurance policies and lien
searches) as the Administrative Agent or the Collateral Agent shall reasonably request to evidence
compliance with this Section.

     6.09 Secured Hedge Agreements. If at any time prior to the fourth anniversary of the
Closing Date, the Eurodollar Rate (as calculated without giving effect to the Eurodollar Rate
Floor) exceeds 1.50% for 30 consecutive days, then, at the request of the Administrative Agent,
within 60 days of the last day of such 30-day period, the Borrower will enter into interest rate
Swap Contracts designed to protect the Borrower against fluctuations in interest rates, such that,
through the Term Loan Maturity Date, at least 50% of the outstanding Indebtedness for borrowed
money of Holdings and its Subsidiaries is either (a) subject to such interest rate Swap Contracts
or (b) fixed-rate Indebtedness.

     6.10 Maintenance of Ratings. Holdings will use its commercially reasonable efforts to
cause a (i) corporate rating by S&P or corporate family Rating by Moody’s and (ii) senior secured
credit rating with respect to the Loans from each of S&P and Moody’s to be available at all times
until the Term Loan Maturity Date.

     6.11 Post-Closing Obligations. Within 90 days of the Closing Date (or such later date
as consented to by the Administrative Agent in its reasonable discretion), Holdings will and will
cause each applicable Loan Party to provide to the Collateral Agent (i) any landlords’ and
bailees’ waiver and consent agreements deemed necessary or desirable by the Administrative Agent or
the Collateral Agent in order to perfect the Liens created under the Security Agreement and (ii) a
Mortgage with respect to each Mortgaged Property, duly executed and delivered by the applicable
Loan Party, together with:

     (a) satisfactory arrangements for the completion of all recordings and filings of each
Mortgage with respect to each Mortgaged Property as may be necessary to create a valid,
perfected first priority Lien against the properties purported to be covered thereby;

     (b) mortgagee’s title insurance policies in favor of the Collateral Agent for the
benefit of the Secured Parties in amounts and in form and substance and issued by insurers,
reasonably satisfactory to the Administrative Agent and the Collateral Agent, with respect
to the
property purported to be covered by each such Mortgage, insuring fee simple title
(provided that in jurisdictions that impose mortgage recording taxes, the Security Documents
shall not secure Indebtedness in an amount exceeding 120% of the fair market value of the
Mortgaged Property, as reasonably determined in good faith by the Loan Parties and
reasonably acceptable to the Collateral Agent) and that the interests created by each such
Mortgage constitute valid first Liens thereon free and clear of all defects and encumbrances
other than as approved by the Administrative Agent, and if required by the Administrative
Agent, and if requested by the Administrative Agent or the Collateral Agent and if
available, revolving credit endorsement, comprehensive endorsement, variable rate
endorsement, access and utilities endorsements, mechanic’s lien endorsement and such other
endorsements as the Administrative Agent or the Collateral Agent shall reasonably request
and shall be accompanied by evidence of the payment in full of all premiums thereon;

     (c) American Land Title Association/American Congress on Surveying and Mapping

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form
surveys, for which all necessary fees (where applicable) have been paid, and dated no more
than 30 days before the day of the granting of the applicable Mortgage, certified to the
Administrative Agent and the Collateral Agent and the issuer of the title insurance policies
in a manner reasonably satisfactory to the Administrative Agent and the Collateral Agent by
a land surveyor duly registered and licensed in the States in which the property described
in such surveys is located and acceptable to the Administrative Agent and the Collateral
Agent, showing all buildings and other improvements, the location of any easements, parking
spaces, rights of way, building set-back lines and other dimensional regulations and the
absence of encroachments, either by such improvements or on to such property, and other
defects, other than encroachments and other defects acceptable to the Administrative Agent
and the Collateral Agent;

     (d) with respect to each Mortgaged Property, the Borrower shall deliver (x) a “life of
loan” standard flood hazard determination with respect to such Mortgaged Property and (y)
with respect to each Mortgaged Property required to be insured pursuant to the Flood
Disaster Protection Act of 1973 or the National Flood Insurance Act of 1968, and the
regulations promulgated thereunder, because it is located in an area which has been
identified by the Secretary of Housing and Urban Development as a “special flood hazard
area,” (i) a policy of flood insurance that (A) covers such Mortgaged Property and (B) is
written in an amount reasonably satisfactory to the Administrative Agent and the Collateral
Agent and (ii) a confirmation that the applicable Loan Party has received the notice
requested pursuant to Section 208.25(i) of Regulation H of the Board;

     (e) with respect to each Mortgaged Property, Phase I Environmental Site Assessments,
and, if requested by the Administrative Agent or the Collateral Agent, Phase II
Environmental Site Assessments; and

     (f) an opinion of counsel in each jurisdiction where the Mortgaged Property is located
and an opinion of counsel in the jurisdiction of organization of the grantor under each
Mortgage with respect to each Mortgaged Property.

     6.12 Ratings Information. The Borrower shall, no later than one (1) Business Day
after Holdings or the Borrower obtains knowledge of any such change, give notice to the
Administrative Agent (by telephone, followed promptly by written notice) of any change (either
expressly or pursuant to a letter from S&P or Moody’s stating an “implied” rating, excluding in all
cases any private indicative ratings that Holdings or the Borrower may request from time to time
from Moody’s or S&P) in Holdings’ corporate rating by
Moody’s or S&P, together with details thereof, and of any announcement by S&P or Moody’s that
its rating in respect of Holdings is “under review” or that any such rating has been placed on a
“Credit Watch List”(R) or “watch list” or that any similar action has been taken by S&P or Moody’s.

     6.13 Motor Vehicle Monitor. Holdings will, and will cause each of its Subsidiaries to
(a) permit the Motor Vehicle Monitor, at reasonable times during normal business hours and upon two
Business Day’s notice to Holdings, to visit any Motor Vehicle Title Offices, to examine (and
photocopy or otherwise image) any of the certificates of motor vehicle title held by Holdings and
its Subsidiaries, and any documents related thereto, and to assess the standard of care used by
Holdings and its Subsidiaries in holding such certificates of motor vehicle title and otherwise
taking actions to perfect, administer and protect the security interest of the Secured Parties in
the applicable Motor Vehicles, and (b) otherwise assist, and cooperate with, the Motor Vehicle
Monitor in the performance of its activities in its capacity as the Motor Vehicle Monitor
(including providing any information reasonably requested by the Motor Vehicle Monitor in its
capacity as such). Holdings shall pay any fees of such Motor Vehicle Monitor incurred in
connection with any exercise of the Motor Vehicle Monitor’s inspection rights pursuant to this
Section or the Security Agreement; provided that prior to an Event of Default, inspections

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by the Motor Vehicle Monitor shall be limited to no more than four such inspections during any
calendar year.

ARTICLE VII

NEGATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding, each
of Holdings and the Borrower will, and will cause its Subsidiaries to, perform or cause to be
performed the obligations set forth below.

     7.01 Business Activities. Except as expressly set forth hereunder:

     (a) Holdings will not, and will not permit any of its Subsidiaries to, engage in any
business activity except those business activities engaged in on the date of this Agreement
and transportation and logistics activities.

     (b) Notwithstanding anything to the contrary contained in this Agreement or any other
Loan Document, Swift Receivables will not engage in any business activity other than those
specified in the definition of “Receivables Subsidiary.”

     7.02 Indebtedness. Holdings will not, and will not permit any of its Subsidiaries to,
create, incur, assume or permit to exist any Indebtedness, other than:

     (a) Indebtedness in respect of the Obligations;

     (b) [Reserved];

     (c) Indebtedness existing as of the Closing Date which is identified on Schedule
7.02(c), and extensions, amendments, renewals, restatements, replacements and
refinancings of such Indebtedness (including as contemplated in Section 7.08(f)), in
each case so long as after giving effect to any such extension, amendment, renewal,
restatement, replacement or refinancing (i) the maturity date of any principal amount
thereof is no shorter than the maturity existing on the Closing Date and (ii) the principal
amount of such Indebtedness does not exceed that which is outstanding on the Closing Date
(as such amount has been reduced following the Closing Date);

     (d) unsecured Indebtedness (i) incurred in the ordinary course of business of Holdings’
Subsidiaries (in the nature of open accounts extended by suppliers on normal trade terms in
connection with purchases of goods and services which are not overdue for a period of more
than 90 days or, if overdue for more than 90 days, as to which a dispute exists and adequate
reserves in conformity with GAAP have been established on the books of such Subsidiary) and
(ii) in respect of performance, surety or appeal bonds provided, in each case, in the
ordinary course of business, but excluding (in each case), Indebtedness incurred through the
borrowing of money or Guarantees in respect thereof;

     (e) Indebtedness (i) in respect of Capitalized Leases and (ii) evidencing the deferred
purchase price of newly acquired assets or incurred to finance the acquisition or lease of
new assets or the construction or improvement of any fixed assets of Holdings’ Subsidiaries
(pursuant to purchase money mortgages or Capitalized Leases, whether owed to the seller or a
third party), which assets are used in the ordinary course of business of such Subsidiaries
and such

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Indebtedness is incurred within 90 days (or, with respect to Newly Acquired Motor
Vehicle Financings, 180 days) of the acquisition or lease or completion of such construction
or improvements of such property) and extensions, renewals, amendments, restatements,
refinancings and replacements of any such Indebtedness that do not increase the outstanding
principal amount thereof or shorten the maturity of the principal amount of such
Indebtedness, in each case from that which existed at the time of any such extension,
renewal, amendment, restatement, refinancing or replacement; provided that the
aggregate amount of all Indebtedness outstanding pursuant to this clause (e) (other than
with respect to Newly Acquired Motor Vehicle Financings) shall not at any time exceed
$50,000,000;

     (f) unsecured Indebtedness of any Subsidiary owing to the Borrower or any other
Subsidiary, which Indebtedness:

     (i) (x) if the obligee under any such Indebtedness is a Loan Party,
shall be evidenced by one or more promissory notes in form and substance
satisfactory to the Administrative Agent, which promissory notes shall be duly
executed and delivered in pledge to the Administrative Agent pursuant to a Loan
Document, and (y) if the obligee under any such Indebtedness is not a Loan Party and
the obligor is a Loan Party, such obligee shall have previously executed and
delivered to the Administrative Agent the Interco Subordination Agreement, in each
case such Indebtedness shall not be forgiven or otherwise discharged for any
consideration other than payment in full or in part in cash (provided that only the
amount repaid in part shall be discharged); and

     (ii) if incurred by a Subsidiary that is not a Loan Party owing to
the Borrower or a Guarantor, shall not (when aggregated with all other Indebtedness
of the type described in this clause (ii) and the amount of all Investments made by
the Borrower and the Subsidiary Guarantors in Subsidiaries that are not Loan Parties
under clause Section 7.05(e)), exceed $100,000,000 in the aggregate;

     (g) unsecured Indebtedness (not evidenced by a note or other instrument) incurred by
the Borrower owing to a Subsidiary that has previously executed and delivered to the
Administrative Agent the Interco Subordination Agreement;

     (h) Indebtedness of the Loan Parties incurred pursuant to the terms of the Senior Note
Documents, as such amount is reduced on or after the Closing Date in accordance with the
terms hereof and any extensions, renewals, amendments, restatements, refinancings and
replacement of any such Indebtedness that do not increase the outstanding principal amount
or shorten the maturity of any principal amount thereof, in each case from that which
existed at the time of any such extension, renewal, amendment, restatement, refinancing or
replacement;

     (i) (i) Indebtedness of a Person existing at the time such Person became a Subsidiary
of Holdings, provided that (x) the aggregate outstanding amount of all Indebtedness
existing pursuant to this clause (i) (other than any Indebtedness secured solely by Motor
Vehicles) does not exceed $75,000,000 and (y) the Consolidated Leverage Ratio as of the
period of four consecutive Fiscal Quarters most recently ended prior to the date of such
Person becoming a Subsidiary is, after giving pro forma effect to such event, at least .25
less than is otherwise required pursuant to Section 7.04(a) at the time of such
event and (ii) Indebtedness relating to any Permitted Acquisition, whether or not existing
at the time the target was acquired or was incurred in contemplation of such Permitted
Acquisition, and in each case, any refinancings, refundings, renewals, replacements or
extensions thereof (without any increase in the principal amount thereof or any shortening
of the maturity of any principal amount thereof, in each case from that

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which existed at the
time of any such extension, renewal, amendment, restatement, refinancing or replacement);

     (j) other unsecured Indebtedness of the Borrower and its Subsidiaries (other than
Indebtedness of Foreign Subsidiaries owing to the Borrower or Subsidiary Guarantors) in an
aggregate amount at any time outstanding not to exceed $70,000,000;

     (k) Indebtedness under Hedging Obligations entered into in the ordinary course of
business and not for speculative purposes (it being understood that the entering into of
offsetting hedges or trades to close open positions on existing Hedging Obligations shall be
deemed not to be for speculative purposes);

     (l) Indebtedness in respect of judgments or awards not deemed to be a default under
Section 8.01(f);

     (m) Indebtedness consisting of customary purchase price adjustments, earn-outs,
indemnification obligations and similar items incurred in connection with acquisitions and
asset sales not restricted by Sections 7.10 or 7.11 in an amount not to
exceed $55,000,000 at any time;

     (n) Guarantees by Holdings’ Subsidiaries of obligations of any Subsidiary to the extent
of any Indebtedness permitted to be incurred by this Section 7.02 or otherwise
incurred in the ordinary course of business;

     (o) Indebtedness incurred by any Receivables Subsidiary in connection with any
Qualified Receivables Transaction permitted by Section 7.11(d); provided
that such Indebtedness is strictly limited in recourse to such Receivables Subsidiary and
its assets, except in respect of Standard Securitization Undertakings;

     (p) Indebtedness of the Borrower or a Subsidiary Guarantor owing to a Captive Insurance
Company; provided that the amount of Indebtedness in this clause (p) does not exceed
$35,000,000 in original principal amount at any time outstanding;

     (q) Attributable Indebtedness with respect to clause (a) of the definition thereof
incurred in connection with a sale and leaseback transaction permitted pursuant to
Section 7.15, so long as the proceeds, with respect to any Motor Vehicle Financing,
received in connection therewith are applied pursuant to Section 2.05(b);

     (r) Attributable Indebtedness with respect to operating leases (including operating
leases in respect of Newly Acquired Motor Vehicle Financings) that are not Motor Vehicle
Financings incurred by Holdings or its Subsidiaries;

     (s) Indebtedness in respect of workers’ compensation claims, payment obligations in
connection with health or other types of social security benefits, unemployment or other
insurance or self-insurance obligations, insurance premium finance agreements, reclamation,
statutory obligations, bankers’ acceptances and performance, appeal or surety bonds in the
ordinary course of business;

     (t) Indebtedness arising from the honoring by a bank or other financial institution of
a check, draft or similar instrument inadvertently drawn against insufficient funds so long
as such Indebtedness is covered within five business days;

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     (u) Indebtedness consisting of indemnification, adjustment of purchase price or similar
obligations, in each case, incurred or assumed in connection with the disposition of any
business or assets of a Subsidiary, other than guarantees of Indebtedness incurred or
assumed by any Person acquiring all or any portion of such business, assets or Subsidiary
for the purpose of financing such acquisition; or

     (v) Indebtedness in respect of sale and leasebacks of real property permitted under
Section 7.15(c);

provided that no Indebtedness otherwise permitted by clause (c), (f)(ii),
(h), (i), (j), (m) or (v) shall be assumed, created or
otherwise incurred if a Default has occurred and is then continuing or would result therefrom.

     7.03 Liens. Holdings will not, and will not permit any of its Subsidiaries to,
create, incur, assume or permit to exist any Lien upon any of its property (including Capital
Securities of any Person), revenues or assets, whether now owned or hereafter acquired, except:

     (a) Liens securing payment of the Obligations;

     (b) [Reserved];

     (c) Liens existing as of the Closing Date and disclosed in Schedule 7.03(c)
securing Indebtedness described in Section 7.02(c), and, to the extent set forth in
such clause (c), any extensions, amendments, renewals, restatements, replacements or
refinancings of such Indebtedness; provided that, in the event of any such
extension, amendment, renewal, restatement, replacement or refinancing, no such Lien shall
encumber any additional property and the amount of Indebtedness secured by such Lien is not
increased from that existing on the Closing Date, less the amount of any payments,
prepayments or other amortization of such
Indebtedness after the Closing Date;

     (d) Liens securing Indebtedness of the type permitted under Section 7.02(e) and
any extensions, renewals, amendments, restatements, refinancing and replacements of any such
Indebtedness permitted under Section 7.02(e); provided that (i) such Lien is
granted within 90 days after such Indebtedness is incurred (except in the case of any
extension, renewal, amendment, restatement, replacement or refinancing), (ii) the
Indebtedness secured thereby (if it is of the type described in Section 7.02(e)(ii))
does not exceed the lesser of the cost or the fair market value of the applicable property,
improvements or equipment at the time of such acquisition (or construction) and (iii) such
Lien secures only the assets that are the subject of the Indebtedness referred to in such
Section;

     (e) Liens securing Indebtedness permitted by Section 7.02(i) and any
refinancings, refundings, renewals, replacements or extensions thereof permitted by
Section 7.02(i); provided that (i) with respect to clause (i) thereof, such
Liens existed prior to such Person becoming a Subsidiary, were not created in anticipation
thereof and attach only to assets of such Person and (ii) with respect to clause (ii)
thereof, any such Liens are second priority or junior to the Liens granted pursuant to the
Collateral Documents and are subject to an intercreditor agreement substantially the same as
the Intercreditor Agreement or otherwise acceptable to the Administrative Agent
(provided that no such Lien shall extend to or cover any assets other than the
assets subject to the Liens granted to the Collateral Agent);

     (f) statutory or common law Liens in favor of carriers, warehousemen, mechanics,

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materialmen and landlords granted in the ordinary course of business for amounts not overdue
for a period of more than thirty (30) days or being diligently contested in good faith by
appropriate proceedings and for which adequate reserves in accordance with GAAP shall have
been set aside on its books;

     (g) Liens incurred or deposits made in the ordinary course of business in connection
with worker’s compensation, unemployment insurance or other forms of governmental insurance
or benefits, or to secure performance of tenders, statutory obligations, bids, leases, trade
contracts, governmental contracts or other similar obligations (other than for borrowed
money) entered into in the ordinary course of business or to secure obligations on surety
and appeal bonds or performance bonds;

     (h) judgment Liens in existence for less than 45 days after the entry thereof or with
respect to which execution has been stayed or the payment of which is covered in full
(subject to a customary deductible) by insurance maintained with responsible insurance
companies and which do not otherwise result in an Event of Default under Section
8.01(f);

     (i) easements, rights-of-way, zoning restrictions, minor defects or irregularities in
title and other similar encumbrances not interfering in any material respect with the value
or use of the property to which such Lien is attached;

     (j) Liens for Taxes not at the time delinquent or thereafter payable without penalty or
being diligently contested in good faith by appropriate proceedings and for which adequate
reserves in accordance with GAAP shall have been set aside on its books;

     (k) second priority Liens securing Indebtedness permitted by Section 7.02(h)
and subject to the Intercreditor Agreement; provided that no such Lien shall extend
to or cover any assets other than the assets subject to the Liens granted to the Collateral
Agent;

     (l) licenses and sublicenses of Intellectual Property (i) existing on the date hereof,
(ii) entered into in the ordinary course of business, or (iii) between Borrower and any of
the Subsidiaries or among the Subsidiaries;

     (m) purported Liens evidenced by the filing of precautionary UCC financing statements
relating solely to operating leases of personal property entered into in the ordinary course
of business;

     (n) bankers liens and rights of set-off with respect to customary depositary
arrangements entered into in the ordinary course of business of Holdings’ Subsidiaries;

     (o) Liens in favor of customs and revenue authorities arising as a matter of law to
secure payment of customs duties in connection with the importation of goods;

     (p) any Liens on the assets of any Receivables Subsidiary, and any Liens on Receivables
Assets of Holdings or any other Subsidiary, in each case, in connection with a Qualified
Receivables Transaction;

     (q) Liens on the assets of Holdings’ Subsidiaries not otherwise permitted by this
Section so long as neither (i) the aggregate outstanding principal amount of the obligations
secured thereby nor (ii) the aggregate fair market value (determined as of the date such
Lien is incurred) of the assets subject thereto exceeds (as to Holdings’ Subsidiaries
collectively)

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$50,000,000 at any one time; provided that no such Lien shall extend
to or cover any parcel of real property owned by any Loan Party that is not Mortgaged
Property;

     (r) any zoning or similar law or right reserved to or vested in any Governmental
Authority to control or regulate the use of any real property that does not materially
interfere with the ordinary conduct of the business of any Subsidiary;

     (s) Liens on insurance policies and the proceeds thereof securing the financing of the
premiums with respect thereto;

     (t) Liens arising out of conditional sale, title retention, consignment or similar
arrangements for sale of goods entered into by the Borrower in the ordinary course of
business;

     (u) licenses or sublicenses granted to others in the ordinary course of business; and

     (v) Liens on Motor Vehicles securing Indebtedness permitted by Section 7.02(e)
and Section 7.02(q).

     7.04 Financial Condition and Operations. Holdings will not permit any of the events
set forth below to occur.

     (a) Holdings will not permit the Consolidated Leverage Ratio for any day in any period
set forth below to be greater than the ratio set forth opposite such period:

	 	 	 	 	 
	Period	 	Ratio	 
	Closing Date through September 30, 2011
	 	 	[  ]:1.00	 
	October 1, 2011 through September 30, 2012
	 	 	[  ]:1.00	 
	October 1, 2012 through September 30, 2013
	 	 	[  ]:1.00	 
	October 1, 2013 through the Term Loan Maturity Date
	 	 	[  ]:1.00	 

     (b) Holdings will not permit the Consolidated Interest Coverage Ratio for any
Measurement Period ending during any period set forth below to be less than the ratio set
forth below opposite such period:

	 	 	 	 	 
	Period	 	Ratio	 
	January 1, 2011 through March 31, 2011
	 	 	[  ]:1.00	 
	April 1, 2011 through June 30, 2011
	 	 	[  ]:1.00	 
	July 1, 2011 through September 30, 2012
	 	 	[  ]:1.00	 
	October 1, 2012 through September 30, 2013
	 	 	[  ]:1.00	 
	October 1, 2013 through the Term Loan Maturity Date
	 	 	[  ]:1.00	 

     7.05 Investments. Holdings will not, and will not permit any of its Subsidiaries to,
purchase,

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make, incur, assume or permit to exist any Investment in any other Person, except:

     (a) Investments existing on the Closing Date and identified in Schedule 7.05(a)
and restructurings or exchanges in respect of any such Investment that do not increase the
principal amount of such Investment;

     (b) Cash and Cash Equivalents;

     (c) Investments received in connection with the bankruptcy or reorganization of, or
settlement of delinquent accounts and disputes with, customers and suppliers, in each case
in the ordinary course of business;

     (d) Investments consisting of any deferred portion of the sales price received by any
Subsidiary in connection with any Disposition permitted under Section 7.11;

     (e) Investments by way of contributions to capital or purchases of Capital Securities
by Holdings in any Subsidiary or by any Subsidiary in any other Subsidiary; provided
that, the aggregate amount of intercompany loans made pursuant to Section
7.02(f)(ii) and Investments under this Section 7.05(e) made by Loan Parties in
Subsidiaries that are not Loan Parties shall not exceed the amount set forth in clause
Section 7.02(f)(ii) at any time;

     (f) Investments constituting (i) accounts receivable arising, (ii) trade debt granted,
or (iii) deposits made in connection with the purchase price of goods or services, in each
case in the ordinary course of business;

     (g) Investments in Capital Securities constituting Permitted Acquisitions;
provided
that (i) each such Investment shall result in the acquisition of a wholly owned North
American Subsidiary and (ii) the Consolidated Leverage Ratio as of the period of four
consecutive Fiscal Quarters most recently ended prior to the date of such Permitted
Acquisition is, after giving pro forma effect to such Permitted Acquisition, at least .25
less than is otherwise required pursuant to Section 7.04(a) at the time of such
Permitted Acquisition;

     (h) Investments constituting Secured Hedge Agreements;

     (i) Guarantees permitted by Section 7.02;

     (j) loans and advances (i) to employees (including drivers of Motor Vehicles) of
Holdings or any of its Subsidiaries in the ordinary course of business (including for
travel, fuel costs, tolls, entertainment and relocation expenses) and (ii) to non-employee
owner/operators of Motor Vehicles in the ordinary course (in the nature of advances for fuel
costs, tolls, repairs and other similar ordinary course items);

     (k) Capital Expenditures permitted by Section 7.07;

     (l) intercompany loans permitted by Sections 7.02(f) and (g);

     (m) Investments made in connection with Permitted Acquisitions permitted by clause
Section 7.10(b);

     (n) Hedging Obligations permitted by Section 7.02(k);

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     (o) loans and advances in the ordinary course of business (i) to finance the purchase
or lease of Motor Vehicles or other equipment by non-employee owner/operators or similar
individuals performing services for Holdings or its Subsidiaries, provided that (x)
Holdings or such Subsidiary has a Lien on the Motor Vehicles or other equipment purchased or
leased and (y) the purchase of any such Motor Vehicles or other equipment are included as
Capital Expenditures for the purposes of Section 7.07 and (ii) to finance tuition
costs of student/trainees enrolled in driver training academies of the Borrower or one of
its Subsidiaries;

     (p) Investments made in a Captive Insurance Company, in an amount not to exceed the
minimum amount of capitalization required pursuant to regulatory capital requirements;

     (q) Investments in a Receivables Subsidiary or in any Persons by a Receivables
Subsidiary in connection with a Qualified Receivables Transaction;

     (r) Investments incurred as a result of prepayments of Indebtedness not restricted by
Section 7.08; or

     (s) other Investments in an amount not to exceed $80,000,000 at any time outstanding;
provided that to the extent any Investment is made by Holdings or its Subsidiaries
in less than 100% of the the Capital Securities of any Person, and Holdings or any of its
Subsidiaries subsequently acquires the remainder of the Capital Securities of such Person,
such Investment shall no longer be considered a use of this clause (s) so long as,
at the time of the acquisition of the remainder of such Capital Securities, the acquisition
of 100% of the Capital Securities of such Person would be permitted as a Permitted
Acquisition under Section 7.05(g);

provided, however, that (i) any Investment which when made complies with the
requirements of the
definition of the term “Cash Equivalent” may continue to be held notwithstanding that such
Investment if made thereafter would not comply with such requirements, and (ii) no Investment
otherwise permitted by clause (g), (m) or (s) shall be permitted to be
made if any Default has occurred and is continuing or would result therefrom.

     7.06 Restricted Payments. Holdings will not, and will not permit any of its
Subsidiaries to, declare or make a Restricted Payment, or make any deposit for any Restricted
Payment, other than Restricted Payments made by its Subsidiaries either to the Borrower or to
Guarantors, or made by any Subsidiary that is not a Loan Party to any other Subsidiary that is not
a Loan Party, and, on a pro rata basis, to its equity holders (with respect to any non-wholly owned
Subsidiary), except:

     (a) so long as there shall exist no Default (both before and after giving effect to the
payment thereof), Restricted Payments pursuant to and in accordance with stock option plans
or other benefit or compensation plans for present or former management or employees of
Holdings and its Subsidiaries, in an amount not to exceed $5,000,000 in any Fiscal Year and
$40,000,000 over the term of this Agreement; provided that, to the extent Restricted
Payments made in accordance with this clause (c) in any Fiscal Year do not exceed
$5,000,000, Restricted Payments made in accordance with this clause (c) in the
immediately succeeding Fiscal Year may be increased by an amount equal to such unutilized
amount from such prior Fiscal Year;

     (b) Restricted Payments with respect to the repurchase of Equity Interests deemed to
occur upon the exercise of stock options to the extent such Equity Interests represent a
portion of the exercise price of those stock options and the repurchase of Equity Interests
deemed to occur in connection with the exercise of stock options and to the extent necessary
to pay applicable withholding taxes;

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     (c) the purchase of fractional shares upon conversion of any securities of Holdings or
the Borrower into, or the exercise of rights with respect to, Equity Interests of Holdings
or the Borrower, provided that the such fractional shares or the right to receive such
fractional shares shall have not been created for the purpose of circumventing the
provisions of this covenant; or

     (d) so long as no Event of Default shall have occurred and be continuing or would
result therefrom, the Borrower may make Restricted Payments; provided that the aggregate
amount of Restricted Payments made pursuant to this clause (b) shall not exceed $25,000,000
in the aggregate.

     7.07
Capital Expenditures. Holdings will not, and will not
permit any of its Subsidiaries to, make or commit to make Capital Expenditures in any period set
forth below which aggregate in excess of the amount set forth below opposite such period (each
amount, the “Maximum Capital Expenditures Amount”):

	 	 	 	 	 
	 	 	Capital
	Period	 	Expenditure Amount
	Fiscal Year 2011
	 	$	550,000,000	 
	Fiscal Year 2012
	 	$	635,000,000	 
	Fiscal Year 2013
	 	$	740,000,000	 
	Fiscal Year 2014
	 	$	740,000,000	 
	Fiscal Year 2015
	 	$	730,000,000	 
	January 1, 2016 through the Term Loan Maturity Date
	 	$	750,000,000	 

; provided, that the Maximum Capital Expenditures Amount for any Fiscal Year shall be
increased by the lesser of (a) an amount equal to the excess, if any, of the Maximum Capital
Expenditures Amount for the previous Fiscal Year (without giving effect to any adjustment in
accordance with this proviso) over the actual amount of Capital Expenditures for such previous
Fiscal Year and (b) 10% of the Maximum Capital Expenditures Amount for the previous Fiscal Year.

     7.08 No Prepayment of Certain Indebtedness. Holdings will not, and will not permit any
of its Subsidiaries to:

     (a) make any payment or prepayment of principal of, or premium or interest on, any
Indebtedness incurred under the Senior Note Documents (including any redemption or
retirement thereof) other than the stated, scheduled date for payment of interest set forth
in the Senior Note Documents, except (i) to the extent permitted under Section 7.02
and (ii) with the Net Cash Proceeds of any sale or issuance of Capital Securities of
Holdings (other than any such sale or issuance on the Closing Date or any such sale or
issuance in connection with the exercise of any over-allotment option in connection with the
Public Offering on the Closing Date) which are not required under Section 2.05(b) to
prepay the Loans (and have not otherwise been applied to other payments permitted under this
Section 7.08);

     (b) redeem, retire, purchase, defease or otherwise acquire for value any Indebtedness
incurred under the Senior Note Documents, except (i) to the extent permitted under
Section 7.02 and (ii) with the Net Cash Proceeds of any sale or issuance of Capital
Securities of Holdings (other than any such sale or issuance on the Closing Date or any such
sale or issuance in connection with the exercise of any over-allotment option in connection
with the Public Offering

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on the Closing Date) which are not required under Section
2.05(b) to prepay the Loans (and have not otherwise been applied to other payments
permitted under this Section 7.08);

     (c) make any deposit (including the payment of amounts into a sinking fund or other
similar fund) for any of the foregoing purposes, except (i) to the extent permitted under
Section 7.02 and (ii) with the Net Cash Proceeds of any sale or issuance of Capital
Securities of Holdings (other than any such sale or issuance on the Closing Date or any such
sale or issuance in connection with the exercise of any over-allotment option in connection
with the Public Offering on the Closing Date) which are not required under Section
2.05(b) to prepay the Loans (and have not otherwise been applied to other payments
permitted under this Section 7.08);

     (d) make any prepayment of principal or interest on any Indebtedness that is by its
express written terms subordinated to the payment of the Obligations;

     (e) except as otherwise permitted herein, make any prepayment of principal or interest
on (i) any other second-lien or junior secured Indebtedness or (ii) any unsecured
Indebtedness; or

     (f) make any payment or prepayment of principal of, or premium or interest on, or
redeem, retire, purchase, defease or otherwise acquire any Floating Rate Notes or Fixed Rate
Notes, unless (i) the sum of unrestricted cash and Cash Equivalents of the Borrower and its
Subsidiaries plus Availability is not less than $40,000,000 or (ii) prior to August 31,
2012, any such payment, prepayment, redemption, retirement, purchase, defeasance or
acquisition is made with the proceeds of the exercise of any over-allotment option in
connection with the Public Offering on the Closing Date.

     7.09 Issuance of Capital Securities. Holdings will not, and will not permit any of
its Subsidiaries to, issue any Capital Securities (whether for value or otherwise) to any Person
other than (in the case of Subsidiaries) to Holdings, the Borrower or a Guarantor or another direct
parent thereof unless the Net Cash Proceeds from such issuance are applied to prepay the Loans as
required by Section 2.05(b).

     7.10 Consolidation, Merger; Permitted Acquisitions, etc. Holdings will not, and will
not permit any of its Subsidiaries to, liquidate or dissolve, consolidate with, or merge into or
with, any other Person, or purchase or otherwise acquire all or substantially all of the assets of
any Person (or any division thereof), except:

     (a) any Subsidiary may liquidate or dissolve voluntarily into, and may merge with and
into, Holdings or any of its Subsidiaries (provided that a Subsidiary Guarantor may only
liquidate or dissolve into, or merge with and into, Holdings, the Borrower or another
Subsidiary Guarantor), and the assets or Capital Securities of any Subsidiary may be
purchased or otherwise acquired by Holdings or any of its Subsidiaries (provided
that the assets or Capital Securities of any Subsidiary Guarantor may only be purchased or
otherwise acquired by Holdings, the Borrower or another Subsidiary Guarantor);
provided, further, that in no event shall any Subsidiary consolidate with or merge
with and into any other Subsidiary unless, after giving effect thereto, the Collateral Agent
shall have a perfected pledge of, and security interest in and to, at least the same
percentage of the issued and outstanding interests of Capital Securities (on a fully diluted
basis) and other assets of the surviving Person as the Collateral Agent had immediately
prior to such merger or consolidation in form and substance reasonably satisfactory to the
Collateral Agent and its counsel, pursuant to such documentation and opinions as shall be
necessary in the opinion of the Collateral Agent to create, perfect or maintain the
collateral position of the Secured Parties therein;

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     (b) any Person (i) may merge with or into or consolidate with a Loan Party, or a Loan
Party may merge or consolidate with such Person, in a transaction in which (x) in the case
of a merger involving Holdings or the Borrower, the surviving entity is Holdings or the
Borrower, as applicable, or (y) otherwise, the surviving entity is such Loan Party or if the
surviving entity will not be such Loan Party, simultaneously with such transaction, the
Person formed by such consolidation or in which such Loan Party is merged, shall become a
Subsidiary Guarantor and the Person shall comply with Section 6.08 in connection
therewith and (ii) may merge with or into or consolidate with a Subsidiary that is not a
Loan Party (provided that any merger involving a Loan Party shall be permitted only
in accordance with clause (i)); provided that any such transaction under clause (i)
or (ii) involving a Person that is not a Loan Party or a Subsidiary shall be a Permitted
Acquisition permitted under Section 7.10(c); and

     (c) the purchase of all or substantially all of the assets or Capital Securities of any
Person (or any division of any such Person), or the acquisition of such Person by merger (or
the
offer or tender to purchase 100% of the Capital Securities of such Person), in each
case if (i) such purchase or acquisition constitutes a Permitted Acquisition, and (ii) the
Consolidated Leverage Ratio as of the period of four consecutive Fiscal Quarters most
recently ended prior to the date of such Permitted Acquisition is, after giving pro forma
effect to such Permitted Acquisition, at least .25 less than is otherwise required pursuant
to Section 7.04(a) at the time of such Permitted Acquisition.

     7.11 Permitted Dispositions. Holdings will not, and will not permit any of its
Subsidiaries to, Dispose of any of Holdings’, the Borrower’s or such other Subsidiaries’ assets
(including with respect to the sale, transfer or other conveyance of (i) accounts receivable or
(ii) Capital Securities of Subsidiaries) to any Person in one transaction or series of
transactions, except:

     (a) a Disposition of inventory or obsolete, damaged, worn out or surplus personal
property Disposed of in the ordinary course of its business, including Motor Vehicles
(whether in connection with the LKE Program or otherwise); provided that the
proceeds of any Disposition of Motor Vehicles (other than any Dispositions pursuant to
Sections 7.11(g) or (h)) are applied pursuant to Section 2.05(b) to
the extent required thereby;

     (b) a Disposition permitted by Sections 7.06, 7.09, 7.10 or 7.15;

     (c) a Disposition that (i) is for fair market value and the consideration received
consists of no less than 80% in cash, (ii) results in net cash proceeds which, when taken
together with the net cash proceeds of all other assets Disposed of pursuant to this clause
(c) since the Closing Date, does not exceed (individually or in the aggregate) $100,000,000
and (iii) results in Net Cash Proceeds that are applied, if required by such Section,
pursuant to Section 2.05(b); provided, that notwithstanding clause (i) of
this Section 7.11(c), the proceeds of a Disposition(s) may be non-cash to the extent the
Disposition(s) is pursuant to an exchange for a similar asset in a transaction intended to
qualify as a “like-kind exchange” under Section 1031 of the Code;

     (d) a Disposition of Receivables Assets to any or by any Receivables Subsidiary in
connection with any Qualified Receivables Transaction so long as the proceeds from such
Disposition are applied pursuant to Section 2.05(b), if required thereby;

     (e) a Disposition of Cash Equivalents in the ordinary course of business;

     (f) a Disposition or discount without recourse of accounts receivable that are overdue
for more than 60 days in the ordinary course of business and consistent with past

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practices
in connection with the compromise or collection thereof;

     (g) Dispositions of Motor Vehicles and related assets pursuant to the exercise of a put
option or sale and leaseback in connection with the Motor Vehicle Financings, so long as the
proceeds from such Disposition, to the extent such proceeds are not required pursuant to the
terms of the Motor Vehicle Financing to be applied to the repayment of the Motor Vehicle
Financing, are applied pursuant to Section 2.05(b);

     (h) Dispositions of Motor Vehicles and related assets pursuant to Newly Acquired Motor
Vehicle Financings or pursuant to a sale or trade-in as contemplated by the proviso to
clause (i) of the definition of Capital Expenditures in Section 1.01;

     (i) Dispositions of Motor Vehicles to the extent that the Net Cash Proceeds of any such
Disposition are applied pursuant to Section 2.05(b) to the extent required thereby;

     (j) any Subsidiary of Holdings may Dispose of any assets or issue or sell Capital
Securities to any Loan Party or, subject to the limitations in Section 7.05(e), if
applicable, any other Subsidiary that is not a Loan Party;

     (k) Dispositions of the Capital Securities of Asphalt Media, Inc.;

     (l) Dispositions on the Closing Date with respect to the satisfaction, forgiveness or
cancellation of the Shareholder Loans;

     (m) licenses and sublicenses of Intellectual Property entered into in the ordinary
course of business; and

     (n) Dispositions of Intellectual Property (i) that is in the Borrower’s or a
Subsidiary’s reasonable business judgment no longer used or useful in any material respect
in the Borrower’s or any Subsidiaries’ business, taken as a whole, or (ii) by any Subsidiary
that is not a Loan Party to a Loan Party, (iii) among the Loan Parties or (iv) among
Subsidiaries that are not Loan Parties.

     7.12 Modification of Certain Agreements. Holdings will not, and will not permit any
of its Subsidiaries to, consent to any amendment, supplement, waiver or other modification of, or
enter into any forbearance from exercising any rights with respect to the terms or provisions
contained in:

     (a) the Senior Note Documents;

     (b) the Existing Notes Indentures;

     (c) any of the other Transaction Documents; or

     (d) the Organization Documents of Holdings, the Borrower or any of their respective
Subsidiaries,

in each case if the result would have a material adverse effect on the rights or remedies of
any Secured Party.

     7.13 Transactions with Affiliates. Except as identified in Schedule 7.13,
Holdings will not, and will not permit any of its Subsidiaries to, enter into or cause or permit to
exist any arrangement, transaction or contract (including for the purchase, lease or exchange of
property or the rendering of services) with any Affiliate (other than Holdings or one of its
Subsidiaries), unless such arrangement,

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transaction or contract (i) is on fair and reasonable terms
no less favorable to Holdings or such Subsidiary than it could obtain in an arm’s-length
transaction with a Person that is not an Affiliate and (ii) is of the kind which would be entered
into by a prudent Person in the position of Holdings or such Subsidiary with a Person that is not
one of its Affiliates, provided that, notwithstanding the foregoing, Holdings’
Subsidiaries may (i) make Restricted Payments permitted by Section 7.06 and (ii) enter into
the transactions permitted by Sections 7.02, 7.05, 7.09, 7.10 and
7.11.

     7.14 Restrictive Agreements. Holdings will not, and will not permit any of its Subsidiaries to, enter into any agreement
prohibiting:

     (a) the creation or assumption of any Lien upon its properties, revenues or assets,
whether now owned or hereafter acquired;

     (b) the ability of any Loan Party to amend or otherwise modify any Loan Document; or

     (c) the ability of any Subsidiary to make any payments, directly or indirectly, to
Holdings or the Borrower, including by way of dividends, advances, repayments of loans,
reimbursements of management and other intercompany charges, expenses and accruals or other
returns on investments.

The foregoing prohibitions shall not apply to restrictions contained (i) in any Loan Document,
(ii) in the case of clause (a), (A) any agreement governing any Indebtedness permitted by
Section 7.02(e) as to the assets financed with the proceeds of such Indebtedness, (B)
customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary
or any of its assets pending such sale, provided such restrictions and conditions apply only to
the Subsidiary or assets that is to be sold and such sale is permitted hereunder, (C) customary
restrictions and conditions contained in agreements relating to a Qualified Receivables
Transaction permitted hereunder and the Motor Vehicle Financing, (D) agreements binding on a
Subsidiary at the time such Subsidiary becomes a Subsidiary of the Borrower so long as such
agreement is not entered into in contemplation of such occurrence, (E) agreements that are
customary provisions in joint venture agreements and other similar agreements applicable to joint
ventures permitted hereunder, (F) restrictions or conditions imposed by any agreement relating to
secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to
the property or assets securing such Indebtedness, (G) with respect to clause (a) only, customary
provisions in leases, subleases, licenses, sublicenses or permits so long as such restrictions
relate only to the property subject thereto (including customary restrictions on assignment of any
such leases, subleases. licenses and sublicenses), and (H) restrictions and conditions existing on
the Closing Date contained in agreements that are not material Contractual Obligations of Holdings
or any of its Subsidiaries (but shall apply to any extension of renewal of, or any amendment or
modification expanding the scope of such restriction or condition), or (iii) (A) any agreement of
a Foreign Subsidiary governing Indebtedness permitted by Section 7.02(f)(ii) and (B) any
agreement governing Indebtedness permitted by Section 7.02(h).

     7.15 Sale and Leaseback. Holdings will not, and will not permit any of its
Subsidiaries to, directly or indirectly enter into any agreement or arrangement providing for the
sale or transfer by it of any property (now owned or hereafter acquired) to a Person and the
subsequent lease or rental of such property or other similar property from such Person, other than
(a) a sale and leaseback entered into in connection with the Motor Vehicle Financing, so long as
the proceeds of such transaction are applied pursuant to Section 2.05(b), (b) a sale and
leaseback entered into in connection with a Newly Acquired Motor Vehicle Financing and (c) any sale
and leaseback of real property that is not subject to a Mortgage, so long as the value of such
properties in the aggregate does not exceed $50,000,000.

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     7.16 Accounting Changes. Holdings and its Subsidiaries will not make any change in
(a) accounting principles or reporting practices, except as required by GAAP, or (b) fiscal year.

ARTICLE VIII

EVENTS OF DEFAULT AND REMEDIES

     8.01 Events of Default. Any of the following shall constitute an Event of Default:

     (a) Non-Payment. (i) The Borrower shall default in the payment or prepayment when due
of (x) any principal on any Loan, or any L/C Obligation or any deposit of cash for collateral
purposes pursuant to Section 2.03(g), or (y) any interest on any Loan or any fee described
in Article II or any other monetary Obligation, and such default shall continue unremedied
for a period of three days after such amount was due or (ii) any Guarantor shall default in the
payment when due of any payment Obligation under a Guaranty;

     (b) Breach of Warranty. Any representation or warranty of any Loan Party made or
deemed to be made in any Loan Document (including any certificates delivered pursuant to
Article IV) is or shall be incorrect when made or deemed to have been made in any material
respect;

     (c) Non-Performance of Certain Covenants and Obligations. The Borrower shall default
in the due performance or observance of any of its obligations under Sections 6.01(a),
(b), (c) and (e), Section 6.07, Section 6.11 or Article
VII; or

     (d) Other Defaults. Any Loan Party shall default in the due performance and
observance of any other agreement contained in any Loan Document executed by it, and such default
shall continue unremedied for a period of 45 days after the earlier to occur of (i) notice thereof
given to Holdings or any Borrower by the Administrative Agent or any Lender or (ii) the date on
which any Loan Party has knowledge of such default; or

     (e) Cross-Default. A default shall occur in the payment of any amount when due
(subject to any applicable grace period), whether by acceleration or otherwise, of any principal or
stated amount of, or interest or fees on, any Indebtedness (other than Indebtedness described in
Section 8.01(a)) of Holdings or any of its Subsidiaries or any other Loan Party having a
principal or stated amount, individually or in the aggregate, in excess of $30,000,000, a default
shall occur in the performance or observance of any obligation or condition with respect to such
Indebtedness, or an event of default shall occur, if the effect of such default or event of
default is to accelerate the maturity of any such Indebtedness or such default shall continue
unremedied for any applicable period of time sufficient to permit the holder or holders of such
Indebtedness, or any trustee or agent for such holders, to cause or declare such Indebtedness to
become due and payable or to require such Indebtedness to be prepaid, redeemed, purchased or
defeased, or require an offer to purchase or defease such Indebtedness to be made, prior to its
expressed maturity; or

     (f) Judgments. Any (i) judgment or order for the payment of money individually or in
the aggregate in excess of $30,000,000 (exclusive of any amounts fully covered by insurance (less
any applicable deductible) and as to which the insurer has acknowledged its responsibility to cover
such judgment or order) shall be rendered against Holdings or any of its Subsidiaries or any other
Loan Party and such judgment shall not have been vacated or discharged or stayed or bonded pending
appeal within 45 days after the entry thereof or enforcement proceedings shall have been commenced
by any creditor upon such judgment or order or (b) non-monetary judgment or order that has had, or
could reasonably be expected to have, a Material Adverse Effect; or

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     (g) Pension Plans. An ERISA Event shall occur that, alone or together with any other
ERISA
Event that has occurred or is continuing, would reasonably be expected to create liability to
any Loan Party or any ERISA Affiliate in excess of $30,000,000:

     (h) Change in Control. Any Change in Control shall occur; or

     (i) Bankruptcy; Insolvency, Etc. Holdings, any of its Subsidiaries or any other Loan
Party shall:

     (i) become insolvent or generally fail to pay, or admit in writing its inability or
unwillingness generally to pay, debts as they become due;

     (ii) apply for, consent to, or acquiesce in the appointment of a trustee, receiver,
sequestrator or other custodian for any substantial part of the property of any thereof, or
make a general assignment for the benefit of creditors;

     (iii) in the absence of such application, consent or acquiescence, permit or suffer to
exist the appointment of a trustee, receiver, sequestrator or other custodian for a
substantial part of the property of any thereof, and such trustee, receiver, sequestrator or
other custodian shall not be discharged within 60 days; provided that Holdings, each
Borrower, each Subsidiary and each other Loan Party hereby expressly authorizes each Secured
Party to appear in any court conducting any relevant proceeding during such 60-day period to
preserve, protect and defend their rights under the Loan Documents;

     (iv) permit or suffer to exist the commencement of any bankruptcy, reorganization, debt
arrangement or other case or proceeding under any bankruptcy or insolvency law or any
dissolution, winding up or liquidation proceeding, in respect thereof, and, if any such case
or proceeding is not commenced by Holdings, any Borrower, any Subsidiary or any Loan Party,
such case or proceeding shall be consented to or acquiesced in by Holdings, such Borrower,
such Subsidiary or such Loan Party, as the case may be, or shall result in the entry of an
order for relief or shall remain for 60 days undismissed; provided that Holdings,
each Borrower, each Subsidiary and each Loan Party hereby expressly authorizes each Secured
Party to appear in any court conducting any such case or proceeding during such 60-day
period to preserve, protect and defend their rights under the Loan Documents; or

     (v) take any action authorizing, or in furtherance of, any of the foregoing; or

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

     (k) Collateral Documents. Any Collateral Document after delivery thereof pursuant to
Sections 4.01 or 6.08 shall for any reason (other than pursuant to the terms
thereof) cease to create a valid and perfected first priority Lien (subject to Liens permitted by
Section 7.03) on the Collateral purported to be covered thereby, to the extent such Lien is
required to be perfected pursuant to the Loan Documents; or

     (l) Subordination Provisions. (i) The subordination provisions of the documents
evidencing

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or governing any subordinated Indebtedness in aggregate principal amount in excess of
$30,00,000 (the
“Subordinated Provisions”) shall, in whole or in part, terminate, cease to be
effective or cease to be legally valid, binding and enforceable against any holder of the
applicable subordinated Indebtedness; or (ii) the Borrower or any other Loan Party shall, directly
or indirectly, disavow or contest in any manner (A) the effectiveness, validity or enforceability
of any of the Subordination Provisions, (B) that the Subordination Provisions exist for the benefit
of the Administrative Agent, the Lenders and the L/C Issuer or (C) that all payments of principal
of or premium and interest on the applicable subordinated Indebtedness, or realized from the
liquidation of any property of any Loan Party, shall be subject to any of the Subordination
Provisions.

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

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

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

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

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

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

     8.03 Application of Funds. After the exercise of remedies provided for in Section
8.02 (or after the Loans have automatically become immediately due and payable and the L/C
Obligations have automatically been required to be Cash Collateralized as set forth in the proviso
to Section 8.02), any amounts received on account of the Obligations shall be applied by
the Administrative Agent in the following order:

     First, to payment of that portion of the Obligations constituting fees, indemnities,
expenses and other amounts (including fees, charges and disbursements of counsel to the
Administrative Agent and amounts payable under Article III) payable to the Agents in their
capacities as such (ratably among the Agents according to the outstanding Obligations due to them
in their capacities as Agents);

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

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[(including fees and time charges for attorneys who may be employees of any Lender or
the L/C Issuer)] arising under the Loan Documents and amounts payable under Article III,
ratably among them in proportion to the respective amounts described in this clause Second
payable to them;

     Third, to payment of that portion of the Obligations constituting accrued and unpaid
Letter of Credit Fees and interest on the Loans, L/C Borrowings and other Obligations arising under
the Loan Documents, ratably among the Lenders and the L/C Issuer in proportion to the respective
amounts described in this clause Third payable to them;

     Fourth, to payment of that portion of the Obligations constituting unpaid principal of
the Loans, L/C Borrowings and Obligations then owing under Secured Hedge Agreements and Secured
Cash Management Agreements, ratably among the Lenders, the L/C Issuer, the Hedge Banks and the Cash
Management Banks in proportion to the respective amounts described in this clause Fourth
held by them;

     Fifth, to the Administrative Agent for the account of the L/C Issuer, to Cash
Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters
of Credit; and

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

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

Notwithstanding the foregoing, Obligations arising under Secured Cash Management Agreements and
Secured Hedge Agreements shall be excluded from the application described above if the
Administrative Agent has not received written notice thereof, together with such supporting
documentation as the Administrative Agent may request, from the applicable Cash Management Bank or
Hedge Bank, as the case may be. Each Cash Management Bank or Hedge Bank not a party to the Credit
Agreement that has given the notice contemplated by the preceding sentence shall, by such notice,
be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to
the terms of Article IX hereof for itself and its Affiliates as if a “Lender” party hereto.

ARTICLE IX

AGENTS

     9.01 Appointment and Authority. (a) Each of the Lenders and the L/C Issuer hereby
irrevocably appoints Bank of America to act on its behalf as the Administrative Agent and hereunder
and under the other Loan Documents and authorizes the Administrative Agent to take such actions on
its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms
hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The
provisions of this Article are solely for the benefit of the Agents, the Lenders and the L/C
Issuer, and the Borrower shall not have rights as a third party beneficiary of any of such
provisions.

     (b) Each of the Lenders (including in its capacities as a potential Hedge Bank and a potential
Cash Management Bank), the Administrative Agent and the L/C Issuer hereby irrevocably appoints
Morgan Stanley Senior Funding, Inc. as Collateral Agent hereunder and under the other Loan
Documents (and Morgan Stanley Senior Funding, Inc. hereby accepts such appointment as Collateral
Agent)
and

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authorizes the Collateral Agent (i) to act as the agent of such Lender and the L/C
Issuer for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by
any of the Loan Parties to secure any of the Obligations, together with such powers and discretion
as are reasonably incidental thereto, (ii) to enter into an arrangement with the Borrower whereby
the Borrower and its Subsidiaries will (A) retain physical possession of the certificates of title
(or similar instruments) relating to each Motor Vehicle owned by Holdings or any of its
Subsidiaries (each such Motor Vehicle, an “Owned Motor Vehicle”), (B) be authorized to list
or register the Collateral Agent as first lien holder with respect to each Owned Motor Vehicle, (C)
be authorized to communicate and deal with the applicable state department of motor vehicles in (1)
registering any Owned Motor Vehicle and listing and recording the Collateral Agent as first
lienholder in respect thereof and (2) releasing any registration of any Owned Motor Vehicle upon
any sale or other disposal or transfer of registration thereof and (D) be granted a power of
attorney by the Collateral Agent, which power of attorney shall grant specified employees of
Holdings or its Subsidiaries the ability to terminate the Collateral Agent’s liens, rights, title
and interest in and to Owned Motor Vehicles that are the Collateral of the Secured Parties in
accordance with the terms of such power of attorney and (iii) to appoint a Motor Vehicle Monitor,
which Motor Vehicle Monitor shall monitor the arrangement between the Borrower and the Collateral
Agent detailed in clause (ii) above and shall perform inspections and audits to ensure that the
Borrower is complying with its obligations hereunder and under the other Loan Documents with
respect to certificates of title for all Owned Motor Vehicles. In this connection, the Collateral
Agent and any co-agents, sub-agents and attorneys-in-fact appointed by the Collateral Agent
pursuant to Section 9.05 for purposes of holding or enforcing any Lien on the Collateral
(or any portion thereof) granted under the Collateral Documents, or for exercising any rights and
remedies thereunder at the direction of the Administrative Agent), shall be entitled to the
benefits of all provisions of this Article IX and Article X (including
Section 10.04(c), as though such co-agents, sub-agents and attorneys-in-fact were the
Collateral Agent under the Loan Documents) as if set forth in full herein with respect thereto (it
being understood that Holdings and its Subsidiaries shall in no event be deemed sub-agents of the
Collateral Agent and shall not be entitled to the provisions of this Article IX and
Article X).

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

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

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

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

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

     (d) shall not be liable for any action taken or not taken by it (i) with the consent or at the
request of the Required Lenders (or such other number or percentage of the Lenders as shall be
necessary, or as such Agent shall believe in good faith shall be necessary, under the circumstances
as provided in Sections 10.01 and 8.02), (ii) with respect to the Collateral Agent,
with the consent or at the request of the Administrative Agent or (iii) in the absence of its own
gross negligence or willful misconduct. No Agent shall be deemed to have knowledge of any Default
unless and until notice describing such Default is given to such Agent by the Borrower, a Lender or
the L/C Issuer;

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

     Notwithstanding anything to the contrary herein or in any Loan Document, it is hereby
acknowledged and agreed that the Collateral Agent shall act solely at the written direction of the
Administrative Agent or the Required Lenders. The Collateral Agent shall be entitled to refrain
from any act or the taking of any action (including the failure to take an action) in connection
with any Loan Document or from the exercise of any power, discretion or authority vested in it
hereunder or under any other Loan Document until the Collateral Agent shall have received written
direction in respect thereof from the Administrative Agent or the Required Lenders and, upon such
written direction from the Administrative Agent or the Required Lenders, as applicable, the
Collateral Agent shall be entitled to act or (where so instructed) refrain from acting, or to
exercise such power, discretion or authority in accordance with such directions.

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

     9.05 Delegation of Duties. Each Agent may perform any and all of its duties and
exercise its

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

     9.06 Resignation of Administrative Agent. (a) The Administrative Agent may at any
time give notice of its resignation to the Collateral Agent, the Lenders, the L/C Issuer and the
Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the
right, with the consent of the Borrower (so long as no Default has occurred and is continuing), to
appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of
any such bank with an office in the United States. If no such successor shall have been so
appointed by the Required Lenders and shall have accepted such appointment within 30 days after the
retiring Administrative Agent gives notice of its resignation, then the retiring Administrative
Agent may on behalf of the Lenders and the L/C Issuer, appoint a successor Administrative Agent
meeting the qualifications set forth above; provided that if the Administrative Agent shall
notify the Borrower and the Lenders that no qualifying Person has accepted such appointment, then
such resignation shall nonetheless become effective in accordance with such notice and (a) the
retiring Administrative Agent shall be discharged from its duties and obligations hereunder and
under the other Loan Documents and (b) all payments, communications and determinations provided to
be made by, to or through the Administrative Agent shall instead be made by or to each Lender and
the L/C Issuer directly, until such time as the Required Lenders appoint a successor Administrative
Agent as provided for above in this Section. Upon the acceptance of a successor’s appointment as
Administrative Agent hereunder, such successor shall succeed to and become vested with all of the
rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the
retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder
or under the other Loan Documents (if not already discharged therefrom as provided above in this
Section). The fees payable by the Borrower to a successor Administrative Agent shall be the same
as those payable to its predecessor unless otherwise agreed between the Borrower and such
successor. After the retiring Administrative Agent’s resignation hereunder and under the other
Loan Documents, the provisions of this Article and Section 10.04 shall continue in effect
for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related
Parties in respect of any actions taken or omitted to be taken by any of them while the retiring
Administrative Agent was acting as Administrative Agent.

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

     (b) The Collateral Agent may at any time give notice of its resignation to the Administrative
Agent, the Lenders, the L/C Issuer and the Borrower. Upon receipt of any such notice of
resignation, the Required Lenders shall have the right, with the consent of the Borrower (so long
as no Default has occurred and is continuing), to appoint a successor, which shall be a bank with
an office in the United States, or an Affiliate of any such bank with an office in the United
States. If no such successor shall have been so appointed by the Required Lenders and shall have
accepted such

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appointment within 30 days after the retiring Collateral Agent gives notice of its
resignation, then the retiring Collateral Agent may on behalf of the Lenders and the L/C Issuer,
appoint a successor Collateral Agent meeting the qualifications set forth above; provided
that if the Collateral Agent shall notify the Borrower and the Lenders that no qualifying Person
has accepted such appointment, then such resignation shall nonetheless become effective in
accordance with such notice and (a) the retiring Collateral Agent shall be discharged from its
duties and obligations hereunder and under the other Loan Documents (except that in the case of any
collateral security held by the Collateral Agent on behalf of the Lenders or the L/C Issuer under
any of the Loan Documents, the retiring Collateral Agent shall continue to hold such collateral
security until such time as a successor Collateral Agent is appointed) and (b) all payments,
communications and determinations provided to be made by, to or through the Collateral Agent shall
instead be made by or to each Lender and the L/C Issuer directly, until such time as the Required
Lenders appoint a successor Collateral Agent as provided for above in this Section. Upon the
acceptance of a successor’s appointment as Collateral Agent hereunder, such successor shall succeed
to and become vested with all of the rights, powers, privileges and duties of the retiring (or
retired) Collateral Agent, and the retiring Collateral Agent shall be discharged from all of its
duties and obligations hereunder or under the other Loan Documents (if not already discharged
therefrom as provided above in this Section). The fees payable by the Borrower to a successor
Collateral Agent shall be the same as those payable to its predecessor unless otherwise agreed
between the Borrower and such successor. After the retiring Collateral Agent’s resignation
hereunder and under the other Loan Documents, the provisions of this Article and
Section 10.04 shall continue in effect for the benefit of such retiring Collateral Agent,
its sub-agents and their respective Related Parties in respect of any actions taken or omitted to
be taken by any of them while the retiring Collateral Agent was acting as Collateral Agent.

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

     9.08 No Other Duties, Etc. Anything herein to the contrary notwithstanding, none of
the Joint Lead Arrangers listed on the cover page hereof shall have any powers, duties or
responsibilities under this Agreement or any of the other Loan Documents, except in its capacity,
as applicable, as the Administrative Agent, the
Collateral Agent, a Lender or the L/C Issuer hereunder.

     9.09 Administrative Agent May File Proofs of Claim. In case of the pendency of any
proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party,
the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall
then be due and payable as herein expressed or by declaration or otherwise and irrespective of
whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and
empowered, by intervention in such proceeding or otherwise

     (a) to file and prove a claim for the whole amount of the principal and interest owing and
unpaid in respect of the Loans, L/C Obligations and all other Obligations that are owing and unpaid
and to file such other documents as may be necessary or advisable in order to have the claims of
the Lenders, the L/C Issuer and the Administrative Agent (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer and the
Administrative Agent and their respective agents and counsel and all other amounts due the Lenders,
the L/C Issuer and the

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Administrative Agent under Sections 2.03(i) and (j), 2.09
and 10.04) allowed in such judicial proceeding; and

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

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make such
payments to the Administrative Agent and, if the Administrative Agent shall consent to the making
of such payments directly to the Lenders and the L/C Issuer, to pay to the Administrative Agent any
amount due for the reasonable compensation, expenses, disbursements and advances of the
Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent
under Sections 2.09 and 10.04.

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

     9.10 Collateral and Guaranty Matters. Each of the Lenders (including in its
capacities as a potential Cash Management Bank and a potential Hedge Bank) and the L/C Issuer
irrevocably authorize the Collateral Agent, at its option and in its discretion,

     (a) to release any Lien on any property granted to or held by the Collateral Agent under any
Loan Document (i) upon termination of the Aggregate Commitments and payment in full of all
Obligations (other than (A) contingent indemnification obligations and (B) obligations and
liabilities under Secured Cash Management Agreements and Secured Hedge Agreements as to which
arrangements satisfactory to the applicable Cash Management Bank of Hedge Bank shall have been
made) and the expiration or termination of all Letters of Credit (other than Letters of Credit as
to which other arrangements satisfactory to the Administrative Agent and the L/C Issuer shall have
been made), (ii) that is sold or to be sold as part of or in connection with any sale permitted
hereunder or under any other Loan Document, or (iii) if approved, authorized or ratified in
writing in accordance with Section 10.01;

     (b) to release any Guarantor from its obligations under the Guaranty if such Person ceases to
be a Subsidiary as a result of a transaction permitted hereunder; and

     (c) to subordinate any Lien on any property granted to or held by the Collateral Agent under
any Loan Document to the holder of any Lien on such property that is permitted by Section
7.03(d).

     Upon request by the Collateral Agent at any time, the Required Lenders will, or the
Administrative Agent may, confirm in writing the Collateral Agent’s authority to release or
subordinate its interest in particular types or items of property, or to release any Guarantor from
its obligations under the Guaranty pursuant to this Section 9.10. In each case as
specified in this Section 9.10, the Collateral Agent will, at the Borrower’s expense,
execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably
request to evidence the release of such item of Collateral from the assignment and security
interest granted under the Collateral Documents or to subordinate its interest in such item, or to
release such Guarantor from its obligations under the Guaranty, in each case in accordance with the
terms of the Loan Documents and this Section 9.10.

     9.11 Secured Cash Management Agreements and Secured Hedge Agreements. No Cash
Management Bank or Hedge Bank that obtains the benefits of Section 8.03, the Guaranty or
any

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Collateral by virtue of the provisions hereof or of the Guaranty or any Collateral Document
shall have any right to notice of any action or to consent to, direct or object to any action
hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the
release or impairment of any Collateral) other than in its capacity as a Lender and, in such case,
only to the extent expressly provided in the Loan Documents. Notwithstanding any other provision
of this Article IX to the contrary, no Agent shall not be required to verify the payment
of, or that other satisfactory arrangements have been made with respect to, Obligations arising
under Secured Cash Management Agreements and Secured Hedge Agreements unless such Agent has
received written notice of such Obligations, together with such supporting documentation as such
Agent may request, from the applicable Cash Management Bank or Hedge Bank, as the case may be.

     9.12 Waiver of Claims. Each Lender hereby waives any claims against the Collateral
Agent arising as a result of the Collateral Agent’s entry into the arrangement with the Borrower
and the Motor Vehicle Monitor set forth in Section 9.2(b)(ii) and (iii), other than
any such claim arising from the gross negligence or willful misconduct of the Collateral Agent with
respect to such arrangements.

ARTICLE X

MISCELLANENOUS

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

     (a) waive any condition set forth in Section 4.02 as to any Credit Extension under the
Revolving Credit Facility without the written consent of the Required Revolving Lenders;

     (b) extend or increase the Commitment of any Lender (or reinstate any Commitment terminated
pursuant to Section 8.02) without the written consent of such Lender;

     (c) postpone any date fixed by this Agreement or any other Loan Document for any payment
(excluding mandatory prepayments) of principal, interest, fees or other amounts due to the Lenders
(or any of them) hereunder or under such other Loan Document without the written consent of each
Lender entitled to such payment;

     (d) reduce the principal of, or the rate of interest specified herein on, any Loan or L/C
Borrowing, or (subject to clause (iv) of the second proviso to this Section 10.01)
any fees or other amounts payable hereunder or under any other Loan Document; provided,
however, that only the consent of the Required Lenders shall be necessary to (i) amend or
modify the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest
or Letter of Credit Fees at the Default Rate; or (ii) to amend or modify the financial covenants or
defined terms used in the financial covenants in this Agreement and the Lenders agree that such
amendment or modification shall not constitute a reduction in the rate of interest or fees for
purposes of this clause (d);

     (e) change (i) any provision of this Section 10.01 or the definition of “Required
Lenders” or any other provision hereof specifying the number or percentage of Lenders required to
amend, waive or otherwise modify any rights hereunder or make any determination or grant any
consent hereunder (other than the definitions specified in clause (ii) of this Section
10.01(e)), without the written consent of each

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Lender or (ii) the definition of “Required
Revolving Lenders,” or “Required Term Lenders,” without the written consent of each Lender under
the applicable Facility;

     (f) release all or substantially all of the Collateral in any transaction or series of related
transactions, without the written consent of each Lender;

     (g) release all or substantially all of the value of the Guaranty, without the written consent
of each Lender, except to the extent the release of any Subsidiary from the Guaranty is permitted
pursuant to Section 9.10 (in which case such release may be made by the Administrative
Agent acting alone);

     (h) impose any greater restriction on the ability of any Lender under a Facility to assign any
of its rights or obligations hereunder without the written consent of (i) if such Facility is the
Term Loan Facility, the Required Term Lenders and (ii) if such Facility is the Revolving Credit
Facility, the Required Revolving Lenders; or

     (i) change any provision of Section 2.14, without the written consent of Required
Lenders, the Administrative Agent, the L/C Issuer and the Swing Line Lender;

and provided, further, that (i) no amendment, waiver or consent shall, unless in
writing and signed by the L/C Issuer in addition to the Lenders required above, affect the rights
or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of
Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing
and signed by the Swing Line Lender in addition to the Lenders required above, affect the rights or
duties of the Swing Line Lender under this Agreement; (iii) no amendment, waiver or consent shall,
unless in writing and signed by the Administrative Agent in addition to the Lenders required above,
affect the rights or duties of the Administrative Agent under this Agreement or any other Loan
Document; (iv) no amendment, waiver or consent shall, unless in writing and signed by the
Collateral Agent in addition to the Lenders required above, affect the rights or duties of the
Collateral Agent under this Agreement or any other Loan Document and (v) the Fee Letters may be
amended, or rights or privileges thereunder waived, in a writing executed only by the parties
thereto. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any
right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment,
waiver or consent which by its terms requires the consent of all Lenders or each affected Lender
may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except
that (x) the Commitment of such Defaulting Lender may not be increased or extended without the
consent of such Lender and (y) any waiver, amendment or modification requiring the consent of all
Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than
other affected Lenders shall require the consent of such Defaulting Lender.

     If any Lender does not consent to a proposed amendment, waiver, consent or release with
respect to any Loan Document that requires the consent of such Lender and that has been approved by
the Required Lenders (each such Lender, a “Non-Consenting Lender”), the Borrower may (i)
replace such Non-Consenting Lender in accordance with Section 10.13; provided that
such amendment, waiver, consent or release can be effected as a result of the assignment
contemplated by such Section (together with all other such assignments required by the Borrower to
be made pursuant to this paragraph) or (ii) with the consent of the Required Lenders (excluding the
unused Revolving Credit Commitment of, and the portion of the Total Outstandings held by, any
Non-Consenting Lender), terminate the outstanding Commitments of any Non-Consenting Lender and
repay the outstanding Loans of such Lender at par; provided that after giving effect to
such repayment, the (A) Total Revolving Credit Outstandings shall not exceed the Revolving Credit
Facility, (B) the L/C Exposure not fully Cash Collateralized shall not exceed the Letter of Credit
Sublimit and (C) the Swing Line Exposure shall not exceed the Swing Line Sublimit.

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     Any term or provision of this Section 10.01 to the contrary notwithstanding, if the
Administrative Agent, Holdings and the Borrower shall have jointly identified an obvious error or
any error or omission of a technical or immaterial nature in any provision of the Loan Documents,
then the Administrative Agent (or the Collateral Agent, acting at the direction of the
Administrative Agent), Holdings and the Borrower shall be permitted to amend such provision and
such amendment shall become effective without any further action or consent of any other party to
any Loan Document.

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

     (i) if to the Borrower, the Administrative Agent, the Collateral Agent, the L/C Issuer
or the Swing Line Lender, to the address, telecopier number, electronic mail address or
telephone number specified for such Person on Schedule 10.02; and

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

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

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

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

     (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR

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COMPLETENESS OF THE BORROWER MATERIALS OR
THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE
BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR
FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its
Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any
Lender, the L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of
any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the
Administrative Agent’s transmission of Borrower Materials through the Internet, except to the
extent that such losses, claims, damages, liabilities or expenses are determined by a court of
competent jurisdiction by a final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Agent Party; provided, however, that in no
event shall any Agent Party have any liability to the Borrower, any Lender, the L/C Issuer or any
other Person for indirect, special, incidental, consequential or punitive damages (as opposed to
direct or actual damages).

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

     (e) Reliance by Agents, L/C Issuer and Lenders. The Agents, the L/C Issuer and the
Lenders shall be entitled to rely and act upon any notices (including telephonic Committed Loan
Notices and Swing Line Loan Notices) purportedly given by or on behalf of the Borrower even if (i)
such notices were not made in a manner specified herein, were incomplete or were not preceded or
followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by
the recipient, varied from any confirmation thereof. The Borrower shall indemnify the
Administrative Agent, the Collateral Agent, the L/C Issuer, each Lender and the Related Parties of
each of them from all losses, costs, expenses and liabilities resulting from the reliance by such
Person on each notice purportedly given by or on behalf of the Borrower. All telephonic notices to
and other telephonic communications with the Administrative Agent may be recorded by the
Administrative Agent, and each of the parties hereto hereby consents to such recording.

     10.03 No Waiver; Cumulative Remedies; Enforcement. No failure by any Lender, the L/C
Issuer, the Administrative Agent or the Collateral Agent to exercise, and no delay by any such
Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan
Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right,
remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise
of any other right,

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remedy, power or privilege. The rights, remedies, powers and privileges herein
provided, and provided under each other Loan Document, are cumulative and not exclusive of any
rights, remedies, powers and privileges provided by law.

     Notwithstanding anything to the contrary contained herein or in any other Loan Document, the
authority to enforce rights and remedies hereunder and under the other Loan Documents against the
Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law
in connection with such enforcement shall be instituted and maintained exclusively by, the
Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders and
the L/C Issuer; provided, however, that the foregoing shall not prohibit (a) the
Administrative Agent from exercising on its own behalf the rights and remedies that inure to its
benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan
Documents, (b) the Collateral Agent from exercising on its own behalf the rights and remedies that
inure to its benefit (solely in its capacity as Collateral Agent) hereunder and under the other
Loan Documents, (c) the L/C Issuer or the Swing Line Lender from exercising the rights and remedies
that inure to its benefit (solely in its capacity as L/C Issuer or Swing Line Lender, as the case
may be) hereunder and under the other Loan Documents, (d) any Lender from exercising setoff rights
in accordance with Section 10.08 (subject to the terms of Section 2.13), or (e) any
Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the
pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and
provided, further, that if at any time there is no Person acting as Administrative
Agent hereunder and under the other Loan Documents, then (i) the Required Lenders shall have the
rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in
addition to the matters set forth in clauses (b), (c), (d) and (e) of the preceding proviso and
subject to Section 2.13, any Lender may, with the consent of the Required Lenders, enforce
any rights and remedies available to it and as authorized by the Required Lenders.

     10.04 Expenses; Indemnity; Damage Waiver. (a) Costs and Expenses. The
Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent
and its Affiliates (including the reasonable fees, charges and disbursements of one primary counsel
for the Administrative Agent and one local counsel for the Lenders retained by the Administrative
Agent in each relevant jurisdiction and, subject to the Borrower’s consent (such consent not to be
unreasonably withheld), any special counsel for the Lenders deemed reasonably necessary by the
Administrative Agent), in connection with the syndication of the credit facilities provided for
herein, the preparation, negotiation, execution, delivery and administration of this Agreement and
the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or
thereof (whether or not the transactions contemplated hereby or thereby shall be consummated),
(ii) all reasonable out-of-pocket expenses incurred by the L/C Issuer in connection with the
issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment
thereunder and (iii) all out-of-pocket expenses incurred by the Administrative Agent, the
Collateral Agent, any Lender or the L/C Issuer (including the fees, charges and disbursements of
any counsel for the Administrative Agent, the Collateral Agent, any Lender or the L/C Issuer), in
connection with the enforcement or protection of its rights (A) in connection with this Agreement
and the other Loan Documents, including its rights under this Section, or (B) in connection with
Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses
incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of
Credit.

     (b) Indemnification by the Borrower. The Borrower shall indemnify the Administrative
Agent (and any sub-agent thereof), the Collateral Agent (and any sub-agent thereof), each Lender
and the L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being
called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all
losses, claims, damages, liabilities and related expenses (including the fees, charges and
disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against
any Indemnitee by any third party or by the Borrower or any other Loan Party arising out of, in
connection with, or as a result of (i) the execution or

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delivery of this Agreement, any other Loan
Document or any agreement or instrument contemplated hereby or thereby, the performance by the
parties hereto of their respective obligations hereunder or thereunder or the consummation of the
transactions contemplated hereby or thereby, or, in the case of the Agents (and any sub-agent
thereof) and their Related Parties only, the administration of this Agreement and the other Loan
Documents, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom
(including any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if
the documents presented in connection with such demand do not strictly comply with the terms of
such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on
or from any property owned or operated by the Borrower or any of its Subsidiaries, or any
Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any
actual or prospective claim, litigation, investigation or proceeding relating to any of the
foregoing, whether based on contract, tort or any other theory, whether brought by a third party or
by the Borrower or any other Loan Party, and regardless of whether any Indemnitee is a party
thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the
extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a
court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Indemnitee, (y) result from a claim brought by the
Borrower or any other Loan Party against an Indemnitee for breach in bad faith of such Indemnitee’s
obligations hereunder or under any other Loan Document, if the Borrower or such Loan Party has
obtained a final and nonappealable judgment in its favor on such claim as determined by a court of
competent jurisdiction or (z) arise from any dispute solely among the Indemnitees (or their Related
Persons), other than any Agent acting in its capacity as such) and not involving, or arising or
resulting from any act or omission of Holdings or any of its Subsidiaries or any of its or their
Affiliates.

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

     (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee,
on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to
direct or actual damages) arising out of, in connection with, or as a result of, this Agreement,
any other Loan Document or any agreement or instrument contemplated hereby, the transactions
contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof.
No Indemnitee referred to in subsection (b) above shall be liable for any damages arising from the
use by unintended recipients of any information or other materials distributed to such unintended
recipients by such Indemnitee through telecommunications, electronic or other information
transmission systems in connection with this Agreement or the other Loan Documents or the
transactions contemplated hereby or thereby other than for direct or actual damages resulting from
the gross negligence or willful misconduct of such Indemnitee as determined by a final and
nonappealable judgment of a court of competent jurisdiction.

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

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

     10.05 Payments Set Aside. To the extent that any payment by or on behalf of the
Borrower is made to the Administrative Agent, the Collateral Agent, the L/C Issuer or any Lender,
or the Administrative Agent, the Collateral Agent, the L/C Issuer or any Lender exercises its right
of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently
invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant
to any settlement entered into by the Administrative Agent, the Collateral Agent, the L/C Issuer or
such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in
connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of
such recovery, the obligation or part thereof originally intended to be satisfied shall be revived
and continued in full force and effect as if such payment had not been made or such setoff had not
occurred, and (b) the Collateral Agent, each Lender and the L/C Issuer severally agrees to pay to
the Administrative Agent upon demand its applicable share (without duplication) of any amount so
recovered from or repaid by the Administrative Agent, plus interest thereon from the date
of such demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate
from time to time in effect. The obligations of the Lenders and the L/C Issuer under clause (b) of
the preceding sentence shall survive the payment in full of the Obligations and the termination of
this Agreement.

     10.06 Successors and Assigns. (a) Successors and Assigns Generally. The
provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns permitted hereby, except that the Borrower may not
assign or otherwise transfer any of its rights or obligations hereunder without the prior written
consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer
any of its rights or obligations hereunder except (i) to an assignee in accordance with the
provisions of Section 10.06(b), (ii) by way of participation in accordance with the
provisions of Section 10.06(d), or (iii) by way of pledge or assignment of a security
interest subject to the restrictions of Section 10.06(f) (and any other attempted
assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement,
expressed or implied, shall be construed to confer upon any Person (other than the parties hereto,
their respective successors and assigns permitted hereby, Participants to the extent provided in
subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related
Parties of each of the Administrative Agent, the Collateral Agent, the L/C Issuer and the Lenders)
any legal or equitable right, remedy or claim under or by reason of this Agreement.

     (b) Assignments by Lenders. Any Lender may at any time assign to one or more
assignees all or a portion of its rights and obligations under this Agreement (including all or a
portion of its Commitment(s) and the Loans (including for purposes of this Section
10.06(b), participations in L/C Obligations and in Swing Line Loans) at the time owing to it);
provided that any assignment shall be subject to the following conditions:

     (i) Minimum Amounts.

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

     (B) in any case not described in subsection (b)(i)(A) of this Section, the
aggregate amount of the Commitment (which for this purpose includes Loans
outstanding

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

     (ii) Proportionate Amounts. Each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s rights and obligations
under this Agreement with respect to the Loans or the Commitment assigned, except that this
clause (ii) shall not (A) apply to the Swing Line Lender’s rights and obligations in respect
of Swing Line Loans or (B)
prohibit any Lender from assigning all or a portion of its rights and obligations among
separate Facilities on a non-pro rata basis;

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

     (A) the consent of the Borrower (such consent not to be unreasonably withheld
or delayed[, it being understood that it is reasonable for the Borrower to withhold
consent with regard to assignments of Revolving Credit Loans to a financial
institution that is not a commercial bank or investment bank that customarily enters
into such revolving facilities]) shall be required unless (1) an Event of Default
has occurred and is continuing at the time of such assignment, (2) with respect to
the Revolving Credit Facility, (x) prior to the first anniversary of the Closing
Date, the assigning Lender is a Closing Date Revolving Credit Lender (or an
affiliate of, or an Approved Fund with respect to, a Closing Date Revolving Credit
Lender); provided that any assignment by a Closing Date Revolving Credit
Lender prior to the first anniversary of the Closing Date (other than to an existing
Revolving Credit Lender, or an Affiliate of, or Approved Fund with respect to, a
Revolving Credit Lender) shall be effected in consultation with the Borrower or (y)
such assignment is to a Revolving Credit Lender, an Affiliate of a Revolving Credit
Lender or an Approved Fund with respect to a Revolving Credit Lender or (3) with
respect to the Term Loan Facility, such assignment is to a Term Lender, an Affiliate
of a Term Lender or an Approved Fund with respect to a Term Lender;

     (B) the consent of the Administrative Agent (such consent not to be
unreasonably withheld or delayed) shall be required for assignments in respect of
(1) any Term Loan Commitment or Revolving Credit Commitment if such assignment is to
a Person that is not a Lender with a Commitment in respect of the applicable
Facility, an Affiliate of such Lender or an Approved Fund with respect to such
Lender or (2) any Term Loan to a Person that is not a Lender, an Affiliate of a
Lender or an Approved Fund;

     (C) the consent of the L/C Issuer (such consent not to be unreasonably

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withheld
or delayed) shall be required for any assignment in respect of the Revolving Credit
Facility; and

     (D) the consent of the Swing Line Lender (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment in respect of the
Revolving Credit Facility.

     (iv) Assignment and Assumption. The parties to each assignment shall execute
and deliver to the Administrative Agent an Assignment and Assumption, together with a
processing and recordation fee payable by the assigning Lender in the amount of $3,500;
provided, however, that the Administrative Agent may, in its sole
discretion, elect to waive such processing and recordation fee in the case of any
assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent
an Administrative Questionnaire.

     (v) No Assignment to Borrower. No such assignment shall be made to the
Borrower or any of the Borrower’s Affiliates or Subsidiaries, except as permitted in
accordance with Section 2.15.

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

Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c)
of this Section, from and after the effective date specified in each Assignment and Assumption, the
assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned
by such Assignment and Assumption, have the rights and obligations of a Lender under this
Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by
such Assignment and Assumption, be released from its obligations under this Agreement (and, in the
case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations
under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be
entitled to the benefits of Sections 3.01, 3.04, 3.05 and 10.04
with respect to facts and circumstances occurring prior to the effective date of such assignment.
Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee
Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that
does not comply with this subsection shall be treated for purposes of this Agreement as a sale by
such Lender of a participation in such rights and obligations in accordance with Section
10.06(d).

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

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

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unchanged, (ii) such Lender shall
remain solely responsible to the other parties hereto for the performance of such obligations and
(iii) the Borrower, the Administrative Agent, the Lenders and the L/C Issuer shall continue to deal
solely and directly with such Lender in connection with such Lender’s rights and obligations under
this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation
shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve
any amendment, modification or waiver of any provision of this Agreement; provided that
such agreement or instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, waiver or other modification described in the first proviso to
Section 10.01 that affects such Participant. Subject to subsection (e) of this
Section, the Borrower agrees that each Participant shall be entitled to the benefits of
Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and
had acquired its interest by assignment pursuant to Section 10.06(b). To the extent
permitted by law, each Participant also shall be entitled to the benefits of Section 10.08
as though it were a Lender, provided such Participant agrees to be subject to Section
2.13 as though it were a Lender.

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

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

     (g) Resignation as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding
anything to the contrary contained herein, if at any time Bank of America assigns all of its
Revolving Credit Commitment and Revolving Credit Loans pursuant to Section 10.06(b), Bank
of America may, (i) upon 30 days’ notice to the Borrower and the Lenders, resign as L/C Issuer
and/or (ii) upon 30 days’ notice to the Borrower, resign as Swing Line Lender. In the event of any
such resignation as L/C Issuer or Swing Line Lender, the Borrower shall be entitled to appoint from
among the Lenders a successor L/C Issuer or Swing Line Lender hereunder; provided,
however, that no failure by the Borrower to appoint any such successor shall affect the
resignation of Bank of America as L/C Issuer or Swing Line Lender, as the case may be. If Bank of
America resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the
L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of
its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to
require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts
pursuant to Section 2.03(c)). If Bank of America resigns as Swing Line Lender, it shall
retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line
Loans made by it and outstanding as of the effective date of such resignation, including the right
to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swing
Line Loans pursuant to Section 2.04(c). Upon the appointment of a successor L/C Issuer
and/or Swing Line Lender, (a) such successor shall succeed to and become vested with all of the
rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case
may be, and (b) the successor L/C Issuer shall issue letters of credit in substitution for the
Letters of Credit, if any, outstanding at the time of such succession or make other arrangements
satisfactory to Bank of America to effectively assume the obligations of Bank of America with
respect to such Letters of Credit.

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

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

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

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

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the validity of such setoff and application.

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

     10.10 Counterparts; Integration; Effectiveness. This Agreement may be executed in
counterparts (and by different parties hereto in different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract.
This Agreement and the other Loan Documents constitute the entire contract among the parties
relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in
Section 4.01, this Agreement shall become effective when it shall have been executed by the
Administrative Agent and when the Administrative Agent shall have received counterparts hereof
that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an
executed counterpart of a signature page of this Agreement by telecopy or other electronic imaging
means shall be effective as delivery of a manually executed counterpart of this Agreement.

     10.11 Survival of Representations and Warranties. All representations and warranties
made hereunder and in any other Loan Document or other document delivered pursuant hereto or
thereto or in connection herewith or therewith shall survive the execution and delivery hereof and
thereof. Such representations and warranties have been or will be relied upon by the
Administrative Agent, the Collateral Agent and each Lender, regardless of any investigation made by
the Administrative Agent, the Collateral Agent or any Lender or on their behalf and notwithstanding
that the Administrative Agent, the Collateral Agent or any Lender may have had notice or knowledge
of any Default at the time of any Credit Extension, and shall continue in full force and effect as
long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter
of Credit shall remain outstanding.

     10.12 Severability. If any provision of this Agreement or the other Loan Documents is
held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the
remaining provisions of this Agreement and the other Loan Documents shall not be affected or
impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the
illegal, invalid or unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the illegal, invalid or unenforceable provisions. The
invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction.

     10.13 Replacement of Lenders. If any Lender requests compensation under Section
3.04, if the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 3.01 or if any
Lender is a Defaulting Lender, the Borrower may, at its sole expense and effort, upon notice to
such Lender and the Administrative Agent, require such Lender to assign and delegate, without
recourse (in accordance with and subject to the restrictions contained in, and consents required
by, Section 10.06), all of its interests, rights and obligations under this Agreement and
the related Loan Documents to an assignee that shall assume such obligations (which

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assignee may be
another Lender, if a Lender accepts such assignment), provided that:

     (a) the Borrower shall have paid to the Administrative Agent the assignment fee specified in
Section 10.06(b);

     (b) such Lender shall have received payment of an amount equal to the outstanding principal of
its Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable to
it
hereunder and under the other Loan Documents (including any amounts under Section
3.05) from the assignee (to the extent of such outstanding principal and accrued interest and
fees) or the Borrower (in the case of all other amounts);

     (c) in the case of any such assignment resulting from a claim for compensation under
Section 3.04 or payments required to be made pursuant to Section 3.01, such
assignment will result in a reduction in such compensation or payments thereafter; and

     (d) such assignment does not conflict with applicable Laws.

     A Lender shall not be required to make any such assignment or delegation if, prior thereto, as
a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to
require such assignment and delegation cease to apply.

     10.14 Governing Law; Jurisdiction; Etc. (a) GOVERNING LAW. THIS AGREEMENT
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

     (b) SUBMISSION TO JURISDICTION. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY SUBMITS,
FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK
SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW
YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY
JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN
RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT
OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES
HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE
ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.

     (c) WAIVER OF VENUE. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE
LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY
OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE PARTIES
HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF
AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

     (d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO

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SERVICE OF PROCESS
IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02. NOTHING IN THIS AGREEMENT WILL AFFECT
THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

     10.15 Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY
HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN
INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

     10.16 No Advisory or Fiduciary Responsibility. In connection with all aspects of each
transaction contemplated hereby (including in connection with any amendment, waiver or other
modification hereof or of any other Loan Document), the Borrower acknowledges and agrees, and
acknowledges its Affiliates’ understanding, that: (i) (A) the arranging and other services
regarding this Agreement provided by the Agents and the Joint Lead Arrangers are arm’s-length
commercial transactions between the Borrower and its Affiliates, on the one hand, and the Agents
and the Joint Lead Arrangers, on the other hand, (B) the Borrower has consulted its own legal,
accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) the
Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of
the transactions contemplated hereby and by the other Loan Documents; (ii) (A) the Agents and the
Joint Lead Arrangers each is and has been acting solely as a principal and, except as expressly
agreed in writing by the relevant parties, has not been, is not, and will not be acting as an
advisor, agent or fiduciary for the Borrower or any of its Affiliates, or any other Person and (B)
none of the Agents nor the Joint Lead Arrangers has any obligation to the Borrower or any of its
Affiliates with respect to the transactions contemplated hereby except those obligations expressly
set forth herein and in the other Loan Documents; and (iii) the Agents and the Joint Lead Arrangers
and their respective Affiliates may be engaged in a broad range of transactions that involve
interests that differ from those of the Borrower and its Affiliates, and no Agents or Joint Lead
Arranger has any obligation to disclose any of such interests to the Borrower or any of its
Affiliates. To the fullest extent permitted by law, the Borrower hereby waives and releases any
claims that it may have against the Agents and the Joint Lead Arrangers with respect to any breach
or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction
contemplated hereby.

     10.17 Electronic Execution of Assignments and Certain Other Documents. The words
“execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption or in
any amendment or other modification hereof (including waivers and consents) shall be deemed to
include electronic signatures or the keeping of records in electronic form, each of which shall be
of the same legal effect, validity or enforceability as a manually executed signature or the use of
a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any
applicable law, including the Federal Electronic Signatures in Global and National Commerce Act,
the New York State Electronic Signatures and Records Act, or any other similar state laws based on
the Uniform Electronic Transactions Act.

     10.18 USA PATRIOT Act. Each Lender that is subject to the Act (as hereinafter
defined) and the Administrative
Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that

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pursuant
to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October
26, 2001)) (the “Act”), it is required to obtain, verify and record information that
identifies each Loan Party, which information includes the name and address of each Loan Party and
other information that will allow such Lender or the Administrative Agent, as applicable, to
identify each Loan Party in accordance with the Act. The Borrower shall, promptly following a
request by the Administrative Agent or any Lender, provide all documentation and other information
that the Administrative Agent or such Lender requests in order to comply with its ongoing
obligations under applicable “know your customer” an anti-money laundering rules and regulations,
including the Act.

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          IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the date first above written.

	 	 	 	 	 	 	 

	 	 	SWIFT TRANSPORTATION CO., LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	 
 

	 	 
	 

	 	Name:
	 	 
 

	 	 
	 

	 	Title:
	 	 
 

	 	 
	 
	 	 	 	 	 	 
	 	 	SWIFT TRANSPORTATION COMPANY	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	 
 

	 	 
	 

	 	Name:
	 	 
 

	 	 
	 

	 	Title:
	 	 
 

	 	 

 

 

	 	 	 	 	 	 	 

	 	 	BANK OF AMERICA, N.A., as	 	 
	 	 	Administrative Agent, L/C Issuer,
Swing Lien Lender
and a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	 
 

	 	 
	 

	 	Name:
	 	 
 

	 	 
	 

	 	Title:
	 	 
 

	 	 

 

 

	 	 	 	 	 	 	 

	 	 	MORGAN STANLEY SENIOR FUNDING, INC.,
as a Collateral
Agent, Syndication Agent and a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	 
 

	 	 
	 

	 	Name:
	 	 
 

	 	 
	 

	 	Title:
	 	 
 

	 	 

 

 

[OTHER LENDERS AND AGENTS]

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