Document:

Exhibit 10.1

 

EXECUTION COPY

 

 

$5,500,000,000 CREDIT
AGREEMENT

 

Among

 

CAPMARK FINANCIAL GROUP
INC.,

 

THE DESIGNATED BORROWERS
NAMED HEREIN,

 

The Several Lenders

from Time to Time Parties Hereto,

 

CITIBANK, N.A.,

as Administrative Agent,

 

J.P. MORGAN SECURITIES INC.,

as Syndication Agent

 

CREDIT SUISSE,

DEUTSCHE BANK SECURITIES
INC.,

GOLDMAN SACHS CREDIT PARTNERS L.P.,

- and -

THE ROYAL BANK OF SCOTLAND
PLC,

as Documentation Agents

 

Dated as of March 23, 2006

 

 

CITIGROUP GLOBAL MARKETS
INC.,

J.P. MORGAN SECURITIES INC.,

CREDIT SUISSE,

DEUTSCHE BANK SECURITIES INC.,

GOLDMAN SACHS CREDIT PARTNERS, L.P.,

- and -

THE ROYAL BANK OF SCOTLAND PLC,

as Joint Lead Arrangers and Joint Bookrunners

 

 

 

TABLE OF CONTENTS

 

Table of Contents

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  SECTION 1.

  	
  DEFINITIONS

  	
  1

  
	
   

  	
  1.1.

  	
  Defined Terms

  	
  1

  
	
   

  	
  1.2.

  	
  Other Definitional
  Provisions

  	
  26

  
	
   

  	
   

  	
   

  
	
  SECTION 2.

  	
  AMOUNT AND TERMS OF THE
  FACILITIES

  	
  27

  
	
   

  	
  2.1.

  	
  Revolving Credit
  Commitments

  	
  27

  
	
   

  	
  2.2.

  	
  Term Commitments

  	
  31

  
	
   

  	
  2.3.

  	
  Issuance of and Drawings
  and Reimbursement Under Letters of Credit

  	
  31

  
	
   

  	
  2.4.

  	
  Procedure for Revolving
  Credit Borrowing and Term Borrowing

  	
  34

  
	
   

  	
  2.5.

  	
  Bankers’ Acceptances

  	
  34

  
	
   

  	
  2.6.

  	
  Swing Line Commitments

  	
  38

  
	
   

  	
  2.7.

  	
  Yen Swing Line Commitments

  	
  40

  
	
   

  	
  2.8.

  	
  Designated Borrowers

  	
  43

  
	
   

  	
  2.9.

  	
  Termination or Reduction
  of Commitments

  	
  44

  
	
   

  	
  2.10.

  	
  Prepayments

  	
  44

  
	
   

  	
  2.11.

  	
  Conversion and
  Continuation Options

  	
  45

  
	
   

  	
  2.12.

  	
  Minimum Amounts of
  Eurocurrency Borrowings; Interest Periods

  	
  46

  
	
   

  	
  2.13.

  	
  Repayment of Loans and
  Letter of Credit Drawings; Evidence of Debt

  	
  46

  
	
   

  	
  2.14.

  	
  Interest Rates and Payment
  Dates

  	
  48

  
	
   

  	
  2.15.

  	
  Facility Fee

  	
  50

  
	
   

  	
  2.16.

  	
  Computation of Interest
  and Fees

  	
  50

  
	
   

  	
  2.17.

  	
  Inability to Determine
  Interest Rate

  	
  51

  
	
   

  	
  2.18.

  	
  Pro Rata Treatment and
  Payments

  	
  51

  
	
   

  	
  2.19.

  	
  Illegality

  	
  52

  
	
   

  	
  2.20.

  	
  Increased Costs

  	
  53

  
	
   

  	
  2.21.

  	
  Taxes

  	
  54

  
	
   

  	
  2.22.

  	
  Indemnity

  	
  58

  
	
   

  	
  2.23.

  	
  Notice of Amounts Payable;
  Relocation of Funding Office; Mandatory Assignment

  	
  58

  
	
   

  	
  2.24.

  	
  Availability

  	
  59

  
	
   

  	
   

  	
   

  
	
  SECTION 3.

  	
  REPRESENTATIONS AND
  WARRANTIES

  	
  59

  
	
   

  	
  3.1.

  	
  Financial Condition

  	
  59

  
	
   

  	
  3.2.

  	
  No Change

  	
  59

  
	
   

  	
  3.3.

  	
  Corporate Existence

  	
  59

  
	
   

  	
  3.4.

  	
  Corporate Power;
  Authorization; Enforceable Obligations

  	
  59

  
	
   

  	
  3.5.

  	
  No Legal Bar

  	
  60

  
	
   

  	
  3.6.

  	
  No Material Litigation

  	
  60

  
	
   

  	
  3.7.

  	
  Federal Regulations

  	
  60

  
	
   

  	
  3.8.

  	
  Investment Company Act

  	
  60

  
					

 

 

	
   

  	
  3.9.

  	
  ERISA

  	
  60

  
	
   

  	
  3.10.

  	
  No Material
  Misstatements

  	
  60

  
	
   

  	
  3.11.

  	
  Solvency

  	
  60

  
	
   

  	
  3.12.

  	
  Purpose of
  Loans

  	
  60

  
	
   

  	
   

  	
   

  
	
  SECTION 4.

  	
  CONDITIONS
  PRECEDENT

  	
  61

  
	
   

  	
  4.1.

  	
  Conditions
  to Initial Loans

  	
  61

  
	
   

  	
  4.2.

  	
  Conditions
  to Each Credit Event

  	
  62

  
	
   

  	
   

  	
   

  
	
  SECTION 5.

  	
  AFFIRMATIVE
  COVENANTS

  	
  63

  
	
   

  	
  5.1.

  	
  Financial
  Statements

  	
  63

  
	
   

  	
  5.2.

  	
  Certificates;
  Other Information

  	
  63

  
	
   

  	
  5.3.

  	
  Notices

  	
  64

  
	
   

  	
  5.4.

  	
  Conduct of
  Business and Maintenance of Existence

  	
  64

  
	
   

  	
  5.5.

  	
  Compliance
  with Laws, Etc.

  	
  64

  
	
   

  	
  5.6.

  	
  Payment of
  Taxes, Etc.

  	
  64

  
	
   

  	
  5.7.

  	
  Visitation
  Rights

  	
  64

  
	
   

  	
  5.8.

  	
  Keeping of
  Books

  	
  64

  
	
   

  	
  5.9.

  	
  Maintenance
  of Properties, Etc.

  	
  64

  
	
   

  	
  5.10.

  	
  Maintenance
  of Insurance

  	
  64

  
	
   

  	
  5.11.

  	
  Transactions
  with Affiliates

  	
  65

  
	
   

  	
  5.12.

  	
  Covenant to
  Guaranty Obligations

  	
  65

  
	
   

  	
   

  	
   

  
	
  SECTION 6.

  	
  NEGATIVE
  COVENANTS

  	
  65

  
	
   

  	
  6.1.

  	
  Leverage
  Ratio

  	
  65

  
	
   

  	
  6.2.

  	
  Merger, Consolidation, etc.

  	
  65

  
	
   

  	
  6.3.

  	
  Limitation on Liens

  	
  66

  
	
   

  	
  6.4.

  	
  Indebtedness

  	
  66

  
	
   

  	
   

  	
   

  
	
  SECTION 7.

  	
  EVENTS OF
  DEFAULT

  	
  67

  
	
   

  	
  7.1.

  	
  Events of
  Default. If any of the following events shall occur and be continuing:

  	
  67

  
	
   

  	
  7.2.

  	
  Actions in
  Respect of the Letters of Credit upon Default

  	
  69

  
	
   

  	
   

  	
   

  
	
  SECTION 8.

  	
  GUARANTEE

  	
  69

  
	
   

  	
  8.1.

  	
  Guarantee

  	
  69

  
	
   

  	
   

  	
   

  
	
  SECTION 9.

  	
  THE AGENT

  	
  71

  
	
   

  	
  9.1.

  	
  Appointment

  	
  71

  
	
   

  	
  9.2.

  	
  Delegation
  of Duties

  	
  71

  
	
   

  	
  9.3.

  	
  Exculpatory
  Provisions

  	
  71

  
	
   

  	
  9.4.

  	
  Reliance by
  Agent

  	
  71

  
	
   

  	
  9.5.

  	
  Notice of
  Default

  	
  72

  
	
   

  	
  9.6.

  	
  Non-Reliance
  on Agent and Other Lenders

  	
  72

  
	
   

  	
  9.7.

  	
  Indemnification

  	
  72

  
	
   

  	
  9.8.

  	
  Agent in Its
  Individual Capacity

  	
  73

  
	
   

  	
  9.9.

  	
  Successor
  Agent

  	
  73

  
	
   

  	
  9.10.

  	
  Sub-Agent

  	
  73

  
					

 

ii

 

	
  SECTION 10.

  	
  MISCELLANEOUS

  	
  73

  
	
   

  	
  10.1.

  	
  Amendments
  and Waivers

  	
  73

  
	
   

  	
  10.2.

  	
  Notices

  	
  75

  
	
   

  	
  10.3.

  	
  No Waiver;
  Cumulative Remedies

  	
  77

  
	
   

  	
  10.4.

  	
  Survival of
  Representations and Warranties

  	
  77

  
	
   

  	
  10.5.

  	
  Payment of
  Expenses and Taxes

  	
  77

  
	
   

  	
  10.6.

  	
  No Liability
  of the Issuing Banks

  	
  77

  
	
   

  	
  10.7.

  	
  Successors
  and Assigns; Participations and Assignments

  	
  78

  
	
   

  	
  10.8.

  	
  Adjustments

  	
  82

  
	
   

  	
  10.9.

  	
  Counterparts

  	
  82

  
	
   

  	
  10.10.

  	
  Judgment

  	
  83

  
	
   

  	
  10.11.

  	
  Substitution
  of Currency

  	
  83

  
	
   

  	
  10.12.

  	
  Intentionally
  Omitted.

  	
  83

  
	
   

  	
  10.13.

  	
  Severability

  	
  83

  
	
   

  	
  10.14.

  	
  GOVERNING
  LAW

  	
  83

  
	
   

  	
  10.15.

  	
  USA PATRIOT
  Act

  	
  84

  
	
   

  	
  10.16.

  	
  Waiver of
  Jury Trial

  	
  84

  
					

 

	
   

  	
   

  	
   

  
	
  SCHEDULES

  	
   

  
	
   

  	
   

  	
   

  
	
  I

  	
  Commitments

  	
   

  
	
  1.1

  	
  Mandatory Cost Formulae

  	
   

  
	
  2.8

  	
  Designated Borrowers

  	
   

  
	
  II

  	
  Addresses for Notices

  	
   

  
	
  III

  	
  Guarantors

  	
   

  
	
  IV

  	
  Administrative Schedule

  	
   

  
	
  V

  	
  Surviving Indebtedness

  	
   

  
	
   

  	
   

  
	
  EXHIBITS

  	
   

  
	
   

  	
   

  	
   

  
	
  A

  	
  Commitment Increase
  Supplement

  	
   

  
	
  B

  	
  Additional Lender
  Supplement

  	
   

  
	
  C

  	
  Designated Borrower Request
  and Assumption Agreement

  	
   

  
	
  D

  	
  Designated Borrower Notice

  	
   

  
	
  E

  	
  [Intentionally Omitted]

  	
   

  
	
  F

  	
  [Intentionally Omitted]

  	
   

  
	
  G

  	
  Assignment and Assumption

  	
   

  
	
  H-1

  	
  Opinion of Lionel Sawyer & Collins, Nevada
  counsel to the Company

  	
   

  
	
  H-2

  	
  Opinion of Simpson Thacher
  & Bartlett LLP, counsel to the Company

  	
   

  
	
  H-3

  	
  Opinion Matters – Local
  Counsel to Loan Parties

  	
   

  
	
  H-4

  	
  Opinions of Local Counsel
  to Designated Borrowers

  	
   

  
	
  I

  	
  Form of Note

  	
   

  
	
  J

  	
  Swing Line Loan
  Participation Certificate

  	
   

  
	
  K

  	
  Yen Swing Line Loan
  Participation Certificate

  	
   

  
	
  L

  	
  US Tax Compliance
  Certificate

  	
   

  
				

 

iii

 

	
  M

  	
  Form
  of Subsidiary Guaranty

  	
   

  

 

iv

 

CREDIT AGREEMENT, dated as of March 23, 2006, among:

 

(a)                                  CAPMARK FINANCIAL GROUP INC., a Nevada
corporation (the “Company”);

 

(b)                                 certain Subsidiaries of the Company listed on
Schedule 2.8 or that may hereafter become a party hereto pursuant to subsection
2.8 (each a “Designated Borrower” and, together with the  Company, the “Borrowers” and, each a “Borrower”);

 

(c)                                  the several banks and other financial
institutions, including, as applicable, branches or affiliates thereof, from
time to time parties to this Agreement (the “Lenders”);

 

(d)                                 J.P. Morgan Securities Inc., as syndication
agent (in such capacity, the “Syndication Agent”);

 

(e)                                  Credit Suisse, Deutsche Bank Securities Inc.,
Goldman Sachs Credit Partners, L.P. and The Royal Bank of Scotland plc, as
documentation agents (each, in such capacity, a “Documentation Agent”);

 

(f)                                    the Lenders from time to time parties to this
Agreement in the capacities as issuers of letters of credit; and

 

(g)                                 CITIBANK, N.A., as administrative agent for
the Lenders hereunder (in such capacity, together with its affiliates and any
sub-agent appointed pursuant to the terms of this Agreement, the “Agent”).

 

The parties hereto hereby agree as follows:

 

SECTION 1.  DEFINITIONS

 

1.1.  Defined
Terms. As used in
this Agreement, the following terms shall have the following meanings:

 

“A-Rated Specified Loans
and Securities”:  Specified Loans and
Securities of the type referred to in clause (c) of the definition thereof
which are not rated at least “AA-” by S&P, “Aa3” by Moody’s or “AA-” by
Fitch.

 

“Acceptance Fee”:  as defined in subsection 2.5(d).

 

“Acceptance Note”:  as defined in subsection 2.5(f)(ii).

 

“Acceptance Note Lender”:  as defined in subsection 2.5(f)(i).

 

“Acquisition”:  the acquisition by the Investors of approximately
80.0% of the capital stock of the Company from GMAC Mortgage Group, Inc.
pursuant to the terms of the Purchase Agreement concurrently with the initial
extension of credit hereunder.

 

“Additional Lender”:  as defined in subsection 2.1(b)(ii).

 

“Additional Lender
Supplement”:  as defined in
subsection 2.1(b)(ii).

 

 

“Administrative Schedule”:  Schedule IV to this Agreement, as amended
from time to time in accordance with the provisions hereof.

 

“Affiliate”:  as to any
Person, any other Person that, directly or indirectly, is in control of, is
controlled by, or is under common control with, such Person. For purposes of
this definition, “control” of a Person means the power, directly or indirectly,
either to (a) vote 10% or more of the securities having ordinary voting power
for the election of directors (or persons performing similar functions) of such
Person or (b) direct or cause the direction of the management and policies of
such Person, whether by contract or otherwise.

 

“Agent”:  as defined in the preamble hereto. To the
extent that the Agent has appointed a Sub-Agent to perform its obligations
under this Agreement in respect of any Facility, each reference to “the Agent”
contained in this Agreement with respect to such Facility shall be deemed to be
a reference to such Sub-Agent to the extent applicable.

 

“Agreement”:  this Agreement, as amended, supplemented or
otherwise modified from time to time.

 

“Applicable Borrowing
Minimum”:  (a) in respect of
Revolving Credit Loans denominated in Dollars, $5,000,000 and (b) in respect of
Loans in any Available Foreign Currency, the amount set forth as the “Applicable
Borrowing Minimum” for such Currency on the Administrative Schedule.

 

“Applicable Borrowing
Multiple”:  (a) in respect of
Revolving Credit Loans denominated in Dollars, $1,000,000 and (b) in respect of
Loans denominated in any Available Foreign Currency, the amount set forth as
the “Applicable Borrowing Multiple” for such Currency on the Administrative
Schedule.

 

“Applicable Margin”:  as defined in subsection 2.14(h).

 

“Applicable Revolving
Credit Commitment”:  as to any
Lender, such Lender’s Canadian Revolving Credit Commitment, Irish Revolving
Credit Commitment, US Revolving Credit Commitment or Japanese Revolving Credit
Commitment, as the context requires.

 

“Applicant Borrower”:  as defined in subsection 2.8(b).

 

“Approved Fund”:  as defined
in subsection 10.7(b)(ii).

 

“ARB 51”:  Accounting Research Bulletin No. 51, as
amended.

 

“Arrangers”:  Citigroup Global Markets Inc., J.P. Morgan
Securities Inc., Credit Suisse, Deutsche Bank Securities Inc., Goldman Sachs
Credit Partners, L.P. and The Royal Bank of Scotland plc, in their capacity as
joint lead arrangers and joint bookrunners under this Agreement.

 

“Assignee”:  as defined in subsection 10.7(b)(i).

 

“Attributed
Capitalization”:  as of any date of
determination, (a) with respect to any Specified Subsidiary, the aggregate consolidated
value of the assets of such Specified Subsidiary, and (b) with respect to any
Specified Asset Category, the aggregate consolidated value of the assets in
such Specified Asset Category, in each case with “consolidated value” being
determined

 

2

 

in a manner consistent with
the consolidated value of assets reflected on the Company’s financial
statements delivered pursuant to subsection 5.1.

 

“Attributed Equity”:  Attributed Capitalization minus
Attributed Indebtedness.

 

“Attributed Indebtedness”:  as of any date of determination, with respect
to any Specified Subsidiary or Specified Asset Category, an amount equal to the
amount of the Attributed Capitalization of such Specified Subsidiary or
Specified Asset Category, respectively, in each case multiplied by the
Indebtedness Factor with respect to such Specified Subsidiary or Specified
Asset Category.

 

“Available Foreign
Currencies”:  Euro, Pounds Sterling, Yen
and, in the case of the Canadian Revolving Credit Facility, Canadian Dollars.

 

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

 

“Available Revolving
Credit Commitment”:  as to any
Revolving Credit Lender under any Revolving Credit Facility at any time, the
excess, if any, of such Lender’s Applicable Revolving Credit Commitment over such
Lender’s Revolving Credit Usage in respect of the applicable Revolving Credit
Facility.

 

“BA Discount Proceeds”:  proceeds in respect of any Bankers’
Acceptance to be purchased by a Lender on any day under subsection 2.5 in an
amount (rounded to the nearest whole Canadian cent, and with one-half of one
Canadian cent being rounded up) calculated on such day by dividing:

 

(a)                                  the Face Amount of such Bankers’ Acceptance;
by

 

(b)                                 the sum of one plus the product of:

 

(i)                                     the BA Discount Rate (expressed as a decimal)
applicable to such Bankers’ Acceptance; and

 

(ii)                                  a fraction, the numerator of which is the
number of days in the term of such Bankers’ Acceptance commencing on the date
of acceptance of the Bankers’ Acceptance and ending on, but excluding, its BA
Maturity Date, and the denominator of which is 365;

 

with
such product being rounded up or down to the fifth decimal place and .000005
being rounded up.

 

“BA Discount Rate”:  in respect of a Bankers’ Acceptance, the rate
determined by the Agent on any date as the average of the per annum discount
rates for Canadian Dollar bankers’ acceptances having a comparable term and Face
Amount appearing on the Reuters Screen CDOR Page (or such other page as is a
replacement page therefor) at 10:00 A.M. (Toronto time) on the date of the
acceptance of such Bankers’ Acceptance to be accepted by a Canadian Revolving
Credit Lender that is a Schedule I Bank or if such date is not a Business Day,
then on the immediately preceding Business Day (as adjusted by the Agent after
10:00 A.M. (Toronto time) to reflect any error in any posted rate or in the
posted average annual rate (the “CDOR Rate”),

 

3

 

and in the case of Bankers’
Acceptances to be accepted by a Canadian Revolving Credit Lender that is a
Schedule II Bank or a Schedule III Bank, the lesser of (a) the  bid rate quoted by such Lender for its own
bankers’ acceptances of a comparable term and Face Amount with effect as at or
about 10:00 A.M. (Toronto time) on the applicable date of determination and (b)
the CDOR Rate  plus 10 bps. If per annum
discount rates for Canadian Dollar bankers’ acceptances do not appear on the
Reuters Screen CDOR Page at such time, the CDOR Rate shall be determined by the
Agent at or about 10:00 A.M. (Toronto time) on the date of acceptance of such
Bankers’ Acceptance as the average of the discount rates quoted by such
Schedule I Banks as the Agent considers reasonable at which such Schedule I
Banks would, in accordance with their normal practice, purchase on such date
their own bankers’ acceptances with a term and Face Amount comparable to the
terms and Face Amount of the Bankers’ Acceptances to be issued.

 

“BA Maturity Date”:  with respect to any Bankers’ Acceptance, the
date that is 30, 60, 90 or 180 days, as the applicable Canadian Revolving
Credit Borrower may elect in the applicable notice of Canadian Revolving Credit
Borrowing, after the date of issuance of such Bankers’ Acceptance specified in
such notice of Canadian Revolving Credit Borrowing; provided that:

 

(a)                                  any BA Maturity Date that would otherwise
fall on a day which is not a Business Day shall be extended to the next
succeeding Business Day, and

 

(b)                                 no BA Maturity Date with respect to a Bankers’
Acceptance purchased or accepted by any Canadian Revolving Credit Lender may
fall after the Termination Date of such Canadian Revolving Credit Lender.

 

“Bankers’ Acceptance”
or “BA”:  a non-interest bearing
bill of exchange (within the meaning of the Bills of Exchange Act (Canada)) or
a depository bill (within the meaning of the Depository Bills and Notes Act
(Canada)), as applicable, drawn by the applicable Designated Borrower which is
a Canadian Revolving Credit Borrower and accepted by a Canadian Revolving
Credit Lender at a Canadian Revolving Credit Borrower’s request as a Borrowing
hereunder, in such form as the Agent may from time to time require.

 

“Banking and Market
Destined Assets”:  all assets that
either (a) fall within any Specified Asset Category or (b) are owned by any
Specified Subsidiary.

 

“Bankruptcy Remote Special
Purpose Entity”:  a Person that
satisfies each of the following criteria: 
(i) such Person is an entity that is consolidated for accounting
purposes with the Company and designed to make remote the possibility that it
would enter into bankruptcy or other receivership; (ii) all or substantially
all of such Person’s assets consist of Receivables or securities backed by
Receivables plus any rights or other assets (including cash reserves) designed
to assure the servicing or timely distribution of proceeds to the holders of
its obligations; and (iii) Receivables or securities backed by Receivables
owned by such Person satisfy the legal isolation criteria set forth in
paragraph 9(a) of FAS 140 (in relation to the Company and any Subsidiary that
is not a Bankruptcy Remote Special Purpose Entity).

 

“Base Rate”:  a fluctuating interest rate per annum in
effect from time to time, which rate per annum shall at all times be equal to
the higher of:

 

(a)  the rate of interest announced publicly by Citibank in
New York, New York, from time to time, as Citibank’s base rate; and

 

(b)  1/2 of one percent per annum above the Federal Funds
Rate.

 

4

 

“Base Rate Loans”:  Revolving Credit Loans or Term Loans (in each
case, denominated in Dollars) bearing interest at a rate determined by
reference to the Base Rate.

 

“Benefitted Lender”:  as defined in subsection 10.8.

 

“Board of Directors”:  as to the Company, its Board of Directors or
any committee thereof.

 

“Borrowers”:  as defined in the preamble hereto.

 

“Borrowing”:  a Revolving Credit Borrowing, a Term
Borrowing, a Swing Line Borrowing or a Yen Swing Line Borrowing.

 

“Bridge Facility”:  the $5,250,000,000 Bridge Loan Agreement
dated as of March 23, 2006 among the Company, Citicorp North America, Inc., as
Bridge Agent, and the Bridge Lenders referred to therein, as amended to the
extent permitted under the Loan Documents.

 

“Business Day”:  (a) when such term is used in respect of
any amounts denominated or to be denominated in (i) any Available Foreign
Currency, a London Banking Day which is also a day other than a Saturday or
Sunday and on which banks are open for general banking business in (w) the
city which is the principal financial center of the country of issuance of such
Available Foreign Currency, (x) in the case of Canadian Dollars only, Toronto,
Canada, (y) in the case of Euros only, London, England and (z) New
York City and (ii) Dollars, (x) in the case of a Eurocurrency Loan,
any fundings, disbursements, payments and settlements in respect of any such
Eurocurrency Loan, or any other dealings to be carried out pursuant to any Loan
Document in respect of any such Eurocurrency Loan, a London Banking Day which
is also a day other than a Saturday or Sunday and on which banks are open for
general banking business in New York City, and (y) in the case of a Base
Rate Loan, any fundings, disbursements, payments and settlements in respect of
any such Base Rate Loan, or any other dealings to be carried out pursuant to
any Loan Document in respect of any such Base Rate Loan, a day other than a
Saturday or Sunday and on which banks are open for general banking business in
New York City and (b) when such term is used for the purpose of
determining the date on which the Eurocurrency Rate is determined under this
Agreement for any Loan denominated in Euros for any Interest Period therefor
and for purposes of determining the first and last day of any Interest Period,
references in this Agreement to Business Days shall be deemed to be references
to Target Operating Days.

 

“Canadian Dollars”:  the lawful money of Canada.

 

“Canadian Prime Rate”:  for any day, a rate per annum equal to the
higher of (a) the rate of interest per annum established by Citibank
Canada as the reference rate of interest then in effect for determining
interest rates on commercial loans denominated in Canadian Dollars made by it
in Canada and (b) the sum of 1⁄2 of 1% plus the one-month CDOR Rate for such day.

 

“Canadian Prime Rate Loan”:  a Revolving Credit Loan available to a Canadian
Revolving Credit Borrower, denominated in Canadian Dollars and bearing interest
based on the Canadian Prime Rate as further set forth in subsection 2.14(b).

 

“Canadian Revolving
Credit Borrower”:  (a) in the case of
Eurocurrency Loans and Base Rate Loans under the Canadian Revolving Credit
Facility, each US Borrower and (b) in the case of Canadian Prime Rate Loans and
Bankers’ Acceptances, each Designated Borrower listed on

 

5

 

Part A of Schedule 2.8 and
each Subsidiary of the Company organized under the laws of Canada or a
jurisdiction thereof that becomes a Designated Borrower under the Canadian
Revolving Credit Facility pursuant to subsection 2.8 after the Closing Date.

 

“Canadian Revolving
Credit Borrowing”:  a group of Canadian
Revolving Credit Loans of a single Type and in the same Currency made by the Canadian
Revolving Credit Lenders, as the case may be, on a single date and, if
applicable, as to which a single Interest Period is in effect.

 

“Canadian Revolving
Credit Commitment”:  as to any Canadian
Revolving Credit Lender at any time, the obligation of such Lender to make Canadian
Revolving Credit Loans in an aggregate amount at any one time outstanding not
to exceed the amount set forth opposite such Lender’s name on Schedule I
under the caption “Canadian Revolving Credit Commitment”, as such amount may be
increased or reduced from time to time in accordance with the provisions of
this Agreement.

 

“Canadian Revolving
Credit Commitment Percentage”:  as to
any Canadian Revolving Credit Lender at any time, the percentage which such
Lender’s Canadian Revolving Credit Commitment then constitutes of the aggregate
Canadian Revolving Credit Commitments (or, at any time after the Canadian Revolving
Credit Commitments shall have expired or terminated, the percentage which the
aggregate principal amount of such Lender’s Canadian Revolving Credit Loans
then outstanding constitutes of the aggregate principal amount of the Canadian Revolving
Credit Loans then outstanding).

 

“Canadian Revolving
Credit Facility”:  in an initial
amount of $400,000,000 or, at any time, the aggregate amount of the Canadian
Revolving Credit Lenders’ Canadian Revolving Credit Commitments at such time.

 

“Canadian Revolving Credit
Lender”:  a Lender that has a
Canadian Revolving Credit Commitment (with respect to which such Lender (or its
designated Affiliate for purposes of making Loans in Canadian Dollars to Canadian
Revolving Credit Borrowers domiciled in Canada) is a Schedule I Bank, a
Schedule II Bank, a Schedule III Bank or a Person otherwise established under
the laws of Canada or any province or territory thereof that is authorized to
carry on business in Canada pursuant to Part XII of the Bank Act (Canada)) or
an “authorized foreign bank” as defined in section 2 of the Bank Act (Canada).

 

“Canadian Revolving
Credit Loan”:  a revolving credit
loan under the Canadian Revolving Credit Facility or the purchase of a Bankers’
Acceptance under the Canadian Revolving Credit Facility and made by a Canadian
Revolving Credit Lender for the account of a Canadian Revolving Credit Borrower
as part of a Canadian Revolving Credit Borrowing.

 

“Canadian Sub-Agent”:  has the meaning specified in subsection
2.5(b)(i).

 

“CCAA”:  the Companies’ Creditors Arrangement Act
(Canada).

 

“CDOR Rate”:  has the meaning specified in the definition
of “BA Discount Rate” contained in this subsection 1.1.

 

“Change of Control”:  (a) prior to the consummation of a Qualifying
IPO, the Equity Investors shall cease to own, collectively, at least 35% of the
Voting Stock of the Company or (b) any Person or two or more Persons acting in
concert other than the Investors shall have acquired

 

6

 

beneficial ownership (within
the meaning of Rule 13d-3 of the Securities and Exchange Commission under
the Securities Exchange Act of 1934), directly or indirectly, of Voting Stock
of the Company (or other securities convertible into such Voting Stock)
representing more than 50% of the combined voting power of all Voting Stock of
the Company or (c) prior to the consummation of a Qualifying IPO, General
Motors Corporation or any of its Affiliates shall hold Voting Stock of the
Company (or other securities convertible into such Voting Stock) representing
more than the combined voting power of all Voting Stock of the Company held by
the Equity Investors.

 

“Citibank”:  Citibank, N.A.

 

“CLO”: 
as defined in subsection 10.7(b)(ii).

 

“Closing Date”:  the date on which each of the conditions
precedent set forth in subsection 4.1 shall have been satisfied.

 

“Closing Date Material
Adverse Effect”:  a material adverse
effect on the business, condition (financial or otherwise) or results of
operations of the Company and its Subsidiaries, taken as a whole, excluding the
effects of changes to the extent caused by or resulting from (a) changes
in business or economic conditions generally or the financial services
industries in which General Motors Acceptance Corporation, GMAC Mortgage Group,
Inc., General Motors Corporation or the Company and its Subsidiaries operate,
in each case which do not have a materially disproportionate effect on the
Company and its Subsidiaries, taken as a whole (relative to other comparable
industry participants), (b) any outbreak of major armed hostilities in which
the United States is engaged or the occurrence of any terrorist attack upon the
United States or any part thereof, (c) changes  in securities markets generally (including
any disruption thereof and any decline in the price of any security or any
market index), (d) changes after the date of this Agreement in GAAP or
(e) the performance of any obligations under the Transaction Documents (as
defined in the Purchase Agreement).

 

“Code”: 
the Internal Revenue Code of 1986, as amended from time to time.

 

“Commitment”:  a Revolving Credit Commitment, a Term Commitment,
a Letter of Credit Commitment, a Swing Line Commitment or a Yen Swing Line
Commitment, as applicable.

 

“Commitment Increase
Supplement”:  as defined in subsection 2.1(b)(ii).

 

“Commitment Period”:  the period from and including the date hereof
to but not including the Termination Date or such earlier date on which the
Commitments shall terminate as provided herein.

 

“Company”:  as defined in the preamble hereto.

 

“Conduit Lender”:  any
special purpose funding vehicle that (i) is organized under the laws of the
United States or any state thereof and (ii) is engaged in making, purchasing or
otherwise investing in commercial loans in the ordinary course of its business.

 

“Contractual Obligation”:  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.

 

7

 

“Currencies”:  the collective reference to Dollars and the
Available Foreign Currencies.

 

“Default”:  any of the events specified in
Section 7, whether or not any requirement for the giving of notice, the
lapse of time, or both, or any other condition, has been satisfied.

 

“Designated Borrower”:  as defined in the preamble hereto.

 

“Designated Borrower
Notice”: as defined in subsection 2.8(b).

 

“Designated Borrower
Request and Assumption Agreement”: as defined in subsection 2.8(b).

 

“Designated Lenders”:  as defined in subsection 10.9(c).

 

“Documentation Agent”:  as defined in the preamble hereto.

 

“Dollars” and “$”:  the lawful currency of the United States of
America.

 

“Environmental Law”:  any Federal, state, local or foreign statute,
law, ordinance, rule, regulation, code, order, writ, judgment, injunction,
decree or judicial or agency interpretation, policy or guidance relating to
pollution or protection of the environment, health, safety or natural
resources, including, without limitation, those relating to the use, handling,
transportation, treatment, storage, disposal, release or discharge of hazardous
materials.

 

“Environmental Permit”:  any permit, approval, identification number,
license or other authorization required under any Environmental Law.

 

“Equity Investors”:  Affiliates of Kohlberg Kravis Roberts &
Co. L.P., The Goldman Sachs Group, Inc., Dune Capital Management, L.P. and Five
Mile Capital Partners LLC.

 

“Equivalent”:  in determining any amount (a) in Dollars of
any amount in any Available Foreign Currency or other foreign currency on any
date means such amount in such Available Foreign Currency or other foreign
currency multiplied by (x) in the case of any foreign currency other
than Yen borrowed in Japan, the quoted spot rate at which the Agent’s principal
office in London offers to exchange Dollars for such Available Foreign Currency
or other foreign currency in London prior to 11:00 A.M. (London time) on such
date or (y) in the case of Yen borrowed in Japan, the quoted spot rate at
Citibank N.A. Tokyo prior to 10:00 A.M. (Tokyo) time on such date and (b) in
any Available Foreign Currency or other foreign currency of any amount in Dollars
on any date means such amount in Dollars multiplied by (x) in the case
of any foreign currency other than Yen borrowed in Japan, the quoted spot rate
at which the Agent’s principal office in London offers to exchange such
Available Foreign Currency or other foreign currency for Dollars in London
prior to 11:00 A.M. (London time) on such date or (y) in the case of Yen
borrowed in Japan, by the quoted spot rate at Citibank N.A. Tokyo prior to
10:00 A.M. (Tokyo) time on such date.

 

“ERISA”:  the Employee Retirement Income Security Act
of 1974, as amended from time to time.

 

“ERISA Affiliate”:  any Person that for purposes of Title IV
of ERISA is a member of the Borrowers’ controlled group, or under common
control with the Borrowers, within the meaning of Section 414(b) or (c) of
the Code.

 

8

 

“ERISA Event”:  (a) (i) the occurrence of a reportable
event, within the meaning of Section 4043 of ERISA, with respect to any
Plan unless the 30-day notice requirement with respect to such event has been
waived by the PBGC, or (ii) the requirements of subsection (1) of Section
4043(b) of ERISA (without regard to subsection (2) of such Section) are met
with respect to a contributing sponsor, as defined in Section 4001(a)(13) of
ERISA, of a Plan, and an event described in paragraph (9), (10), (11),
(12) or (13) of Section 4043(c) of ERISA is reasonably expected to occur with
respect to such Plan within the following 30 days; (b) the application for
a minimum funding waiver with respect to a Plan; (c) the provision by the
administrator of any Plan of a notice of intent to terminate such Plan pursuant
to Section 4041(a)(2) of ERISA (including any such notice with respect to
a plan amendment referred to in Section 4041(e) of ERISA); (d) the
withdrawal by the Company or any ERISA Affiliate from a Multiple Employer Plan
during a plan year for which it was a substantial employer, as defined in
Section 4001(a)(2) of ERISA; (e)  the conditions for the imposition
of a lien under Section 302(f) of ERISA shall have been met with respect
to any Plan; (f) the adoption of an amendment to a Plan requiring the
provision of security to such Plan pursuant to Section 307 of ERISA; or
(g) the institution by the PBGC of proceedings to terminate a Plan pursuant
to Section 4042 of ERISA.

 

“EURIBO Rate”:  for any Interest Period, the rate appearing
on Page 248 of the Moneyline Telerate Service (or on any successor or
substitute page of such Service or of any successor to or substitute for such
Service, providing rate quotations comparable to those currently provided on such
page of such Service, as determined by the Agent from time to time for purposes
of providing quotations of interest rates applicable to deposits in Euros by
reference to the Banking Federation of the European Union Settlement Rates for
deposits in Euros) at approximately 10:00 A.M., London time, two Business Days
prior to the commencement of such Interest Period, as the rate for deposits in
Euros with a maturity comparable to such Interest Period or, if for any reason
such rate is not available, the average of the respective rates per annum
at which deposits in Euros are offered by the principal office of each of the
Reference Banks in London, England to prime banks in the London interbank
market at 11:00 A.M. (London time) two Business Days before the first day
of such Interest Period in an amount substantially equal, in the case of a
Revolving Credit Borrowing, to such Reference Bank’s Eurocurrency Rate Loans
comprising part of such Borrowing to be outstanding during such Interest Period
and for a period equal to such Interest Period.

 

“Eurocurrency Borrowing”:  a Borrowing comprised of Eurocurrency Loans.

 

“Eurocurrency Loan”:  any Eurocurrency Revolving Credit Loan or
Eurocurrency Term Loan.

 

“Eurocurrency Rate”:  with respect to each day during each Interest
Period pertaining to a Eurocurrency Loan, (a) in the case of any Eurocurrency
Loans denominated in Dollars or any Available Foreign Currency (other than
Euros), the rate of interest determined on the basis of the rate for deposits
in Dollars or such Available Foreign Currency, respectively, for a period equal
to such Interest Period commencing on the first day of such Interest Period
appearing on Page 3750 of the Telerate screen as of 11:00 A.M., London time,
two Business Days prior to the beginning of such Interest Period or (b) in the
case of any Eurocurrency Loans denominated in Euros, the EURIBO Rate. In the
event that such rate does not appear on Page 3750 of the Telerate Service (or
otherwise on such service), the “Eurocurrency Rate” shall be determined
by reference to such other publicly available service for displaying eurocurrency
rates as may be agreed upon by the Agent and the Company or, in the absence of
such agreement, the “Eurocurrency Rate” shall instead be the rate per
annum equal to the average of the respective rates notified to the Agent by
each of the Reference Lenders as the rate at which such Reference Lender is
offered deposits in

 

9

 

the applicable Currency at
or about 10:00 A.M., New York City time, two Business Days prior to the
beginning of such Interest Period in the interbank eurocurrency market where
the eurodollar and foreign currency and exchange operations in respect of its
Eurocurrency Loans are then being conducted for delivery on the first day of
such Interest Period for the number of days comprised therein and in an amount
comparable to the amount of its Eurocurrency Loan to be outstanding during such
Interest Period.

 

“Eurocurrency Reserve
Rate”:  with respect to each day
during each Interest Period pertaining to a Eurocurrency Loan, a rate per annum
determined for such day in accordance with the following formula:

 

	
   

  	
  Eurocurrency Rate

  	
   

  
	
   

  	
  1.00 – Eurocurrency Reserve Requirements

  	
   

  

 

“Eurocurrency Reserve
Requirements”:  for any day as
applied to a Eurocurrency Loan, the aggregate (without duplication) of the
maximum rates (expressed as a decimal fraction) of reserve requirements in
effect on such day (including, without limitation, basic, supplemental,
marginal and emergency reserves under any regulations of the Board of Governors
of the Federal Reserve System or other Governmental Authority having
jurisdiction with respect thereto) dealing with reserve requirements prescribed
for eurocurrency funding (currently referred to as “Eurocurrency liabilities”
in Regulation D of such Board) maintained by a member bank of such System.

 

“Eurocurrency Revolving
Credit Loan”:  any Revolving Credit
Loan bearing interest at a rate determined by reference to the Eurocurrency
Rate.

 

“Eurocurrency Term Loan”:  any Term Loan bearing interest at a rate
determined by reference to the Eurocurrency Rate.

 

“Euros” and “€”:  the single currency of the participating
members of the European Union.

 

“Event of Default”:  any of the events specified in Section 7; provided
that any requirement for the giving of notice, the lapse of time, or both, or
any other condition, has been satisfied.

 

“Excluded Subsidiary”:  any Subsidiary of the Company that is (a) a “controlled
foreign corporation” of the Company under Section 957 of the Code; (b)
organized under the laws of a jurisdiction other than the United States, any
State thereof or the District of Columbia; (c) a Bankruptcy Remote Special
Purpose Entity; (d) prohibited by any Requirement of Law or Contractual
Obligation from providing a guaranty of the obligations of the Company
hereunder, provided that any such Contractual Obligation (i) shall have
been entered into or incurred prior to the Closing Date (or, in the case of any
Subsidiary formed or acquired by the Company subsequent to the Closing Date,
prior to such formation or acquisition) and (ii) in any event, shall not
have been entered into or incurred in contemplation of this provision; (e) any
Permitted Receivables Subsidiary; or (f) an Immaterial Subsidiary.

 

“Existing Indebtedness”:  Indebtedness of the Company and its
Subsidiaries existing immediately before the occurrence of the Closing Date.

 

10

 

“Face Amount”:  with respect of any Bankers’ Acceptance or
Acceptance Note, the amount payable to the holder of such Bankers’ Acceptance
or Acceptance Note on its then existing BA Maturity Date.

 

“Facility”:  any Revolving Credit Facility, any Term
Facility, the Letter of Credit Facility, the Swing Line Facility, or the Yen
Swing Line Facility, as the context shall require; collectively, the “Facilities.”

 

“FAS 66”:  Statement of Financial Accounting Standards
No. 66.

 

“FAS 140”:  Statement of Financial Accounting Standards
No. 140.

 

“Federal Funds Rate”:   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 on the Business Day next
succeeding such day; provided that (a) if such day is not a Business
Day, the Federal Funds Rate for such day shall be such rate on such
transactions on the next preceding Business Day as so published on the next
succeeding Business Day, and (b) if no such rate is so published on such next
succeeding Business Day, the Federal Funds Rate for such day shall be the average
rate charged to Citibank on such day on such transactions as determined by the
Agent.

 

“Fee Letter”:  that certain Fee Letter dated as of August 2,
2005 among the Arrangers and GMACCH Investor LLC.

 

“FIN 46(R)”:  FASB Interpretation No. 46 (revised December
2003).

 

“Financial Officer”:  with respect to any Person, the chief
financial officer, the chief accounting officer, a financial vice president or the
treasurer or assistant treasurer of such Person.

 

“Fitch”:  Fitch Investors’ Services Inc. and its successors.

 

“Funding Office”:  for each Type of Loan and each Currency, the
Funding Office set forth in respect thereof in the Administrative Schedule.

 

“Funding Time”:  for each Type of Loan and each Currency, the
Funding Time set forth in respect thereof in the Administrative Schedule.

 

“GAAP”:  generally accepted accounting principles in
the United States of America as in effect from time to time and as applied by
the Company in the preparation of its public financial statements, except that
with respect to any Indebtedness that is determined in accordance with GAAP
contained in the definition of “Total Consolidated Indebtedness” and “Total
Capitalization” and the covenants contained in subsections 6.1 and 6.4, “GAAP”
shall mean generally accepted accounting principles in the United States of
America in effect on the date hereof and in accordance with the audited
financial statements of the Company for the fiscal year ended December 31, 2004,
and without giving effect to any changes thereto or in the interpretation or
application thereof (including without limitation any changes in, or in the
interpretation or application of, FAS 140 or FIN 46(R)) after such date in
the preparation of its public financial statements.

 

11

 

“Government Sponsored
Enterprises”:  the collective
reference to (i) the Federal Home Loan Mortgage Corp. (Freddie MAC) and (ii)
the Federal National Mortgage Association (Fannie Mae).

 

“Governmental Authority”:  any nation or government, any state or other
political subdivision thereof and any entity exercising executive, legislative,
judicial, regulatory or administrative functions of government.

 

“Guarantors”:  the wholly owned, first-tier and second-tier Subsidiaries
of the Company listed on Schedule III and each other Subsidiary of the Company
that executes and delivers a guaranty pursuant to subsection 5.12 or otherwise
executes and delivers a guaranty or guaranty supplement in form and substance
reasonably satisfactory to the Agent, guaranteeing the other Loan Parties’
obligations under the Loan Documents.

 

“Guaranty”:  a subsidiary guaranty substantially in the
form of Exhibit M hereto, executed by each of the Guarantors listed on Schedule
III, together with each other guaranty and guaranty supplement delivered by a
Guarantor, in each case as amended, amended and restated, supplemented or
otherwise modified.

 

“Guarantee”:  as to any Person, any financial obligation,
contingent or otherwise, of such Person directly or indirectly guaranteeing any
Indebtedness of any other Person or in any manner providing for the payment of
any Indebtedness of any other Person, provided that the term “Guarantee”
shall not include endorsements for collection or deposit in the ordinary course
of business. The value of any Guarantee of any Person shall be determined by
reference to the carrying value of such Guarantee, with the “carrying value”
being determined in a manner consistent with the carrying value of Guarantees
as reflected on the Company’s financial statements delivered pursuant to subsection
5.1.

 

“Guaranteed Obligations”:
as defined in subsection 8.1(a).

 

“Hedge Agreements”:  interest rate swap, cap or collar agreements,
interest rate future or option contracts, currency swap agreements, currency
future or option contracts and other hedging agreements.

 

“Hybrid Capital”:  “hybrid capital” instruments issued to GMAC
on the Closing Date on terms reasonably acceptable to the Arrangers in an
aggregate liquidation amount of $250,000,000.

 

“Immaterial Subsidiary”:  any direct or indirect Subsidiary of the Company
(a) whose total net assets, together with the total net assets of all of its
Subsidiaries, constitute less than 5% of the total consolidated net assets of
the Company and its Subsidiaries or (b) whose total net income, together with
the total net income of all of its Subsidiaries, constitute less than 5% of the
total consolidated net income of the Company and its Subsidiaries, all as
determined in accordance with GAAP.

 

“Increasing Lender”:  as defined in subsection 2.1(b)(ii).

 

“Incremental Commitment”:  as defined in subsection 2.1(b)(ii).

 

“Indebtedness”:  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 (but

 

12

 

excluding any such items to
the extent accounted for under ARB 51, FAS 66 or FIN 46(R) in each case in
relation to the Company’s affordable tax credit syndication business):

 

(a)  all
obligations of such Person for borrowed money and all obligations of such
Person evidenced by bonds, debentures, notes, loan agreements, convertible
securities (to the extent that they have put provisions that are exercisable
during the term of this Agreement) or other similar instruments;

 

(b)  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)  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);

 

(d)  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;

 

(e)  capitalized
leases;

 

(f)  all
Synthetic Debt (other than recourse factoring of receivables);

 

(g)  all
Guarantees of such Person in respect of any of the foregoing; and

 

(h)  all
obligations of such Person under Hedge Agreements.

 

Notwithstanding anything to
the contrary contained in the foregoing, in no event shall “Indebtedness” for
any purposes of this Agreement include any “Mezzanine Equity” or more than 25%
of any obligations in respect of Hybrid Capital as to which equity credit is
given by Moody’s or S&P, in each case unless and until such time as such
equity or instruments become repayable or redeemable on a mandatory basis in
accordance with the terms thereof.

 

“Indebtedness Factor”:  for each of the Specified Subsidiaries and
Specified Asset Categories listed below, the amounts set forth opposite
thereto:

 

	
  GMAC Commercial Mortgage
  Bank

  	
  0.94

  	
   

  
	
   

  	
   

  	
   

  
	
  Escrow Bank USA

  	
  0.94

  	
   

  
	
   

  	
   

  	
   

  
	
  GMAC Commercial Mortgage
  Bank Europe plc

  	
  0.90

  	
   

  
	
   

  	
   

  	
   

  
	
  Specified Mortgage Loan
  Interests

  	
  0.92

  	
   

  
	
   

  	
   

  	
   

  
	
  Specified Loans and
  Securities (other than A-Rated Specified Loans and Securities)

  	
  0.97

  	
   

  
	
   

  	
   

  	
   

  
	
  A-Rated Specified Loans
  and Securities

  	
  0.90

  	
   

  

 

13

 

“Index Debt”:  the Company’s long-term senior unsecured
Indebtedness.

 

“Interest Payment Date”:  (a) as to any Base Rate Loan or Canadian
Prime Rate Loan, the last day of each March, June, September and December to
occur while such Loan is outstanding and the date such Loan is paid in full,
(b) as to any Eurocurrency Loan, the last day of the Interest Period applicable
thereto and (c) as to any Eurocurrency Loan having an Interest Period longer
than three months or 90 days, as the case may be, each day which is three
months or 90 days, as the case may be, after the first day of the Interest
Period applicable thereto; provided that in addition to the foregoing,
each of (x) the date upon which the Commitments under a Facility have been
terminated and the Loans under such Facility have been paid in full shall
constitute an “Interest Payment Date” with respect to such Facility and (y) the
Termination Date shall be deemed to be an “Interest Payment Date” with respect
to any interest which is then accrued hereunder.

 

“Interest Period”:  with respect to any Eurocurrency Loan:

 

(a)  initially, the period commencing on the borrowing or
conversion date, as the case may be, with respect to such Eurocurrency Loan and
ending one, two, three or six months thereafter or, to the extent available to
all applicable Lenders, nine or twelve months thereafter, as selected by any
Borrower in its notice of borrowing or notice of conversion, as the case may
be, given with respect thereto; and

 

(b)  thereafter, each period commencing on the last day of
the next preceding Interest Period applicable to such Eurocurrency Loan and
ending one, two, three or six months thereafter or, to the extent available to
all applicable Lenders, nine or twelve months thereafter, as selected by any
Borrower by irrevocable notice to the Agent not less than three Business Days
prior to the last day of the then current Interest Period with respect thereto;

 

provided that
all of the foregoing provisions relating to Interest Periods are subject to the
following:

 

(a)  if any Interest Period would otherwise end on a day that
is not a Business Day, such Interest Period shall be extended to the next
succeeding Business Day unless, in the case of an Interest Period pertaining to
a Eurocurrency Loan, the result of such extension would be to carry such
Interest Period into another calendar month in which event such Interest Period
shall end on the immediately preceding Business Day; and

 

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

 

Notwithstanding
anything to the contrary contained in this Agreement, no Interest Period for
Revolving Credit Loans or Term Loans shall be selected by any Borrower which
ends on a date after the Termination Date.

 

“Investors”: 
the Equity Investors and the management, officers and employees of the
Company or any Subsidiary as of the Closing Date who are or become investors in
the Company.

 

“Irish Bank”: either of (a) the holder of a
license for the time being in force granted under section 9 of the Irish
Central Bank Act 1971 or (b) an authorized credit institution under the terms
of EU Council Directive 2000/12/EC of 20 March 2000 which has duly established
a branch in

 

14

 

Ireland
or has made all necessary notifications to its home state competent authorities
required thereunder in relation to its intention to carry on banking business
in Ireland.

 

“Irish Revolving Credit Borrower”:  each US Borrower, each Designated Borrower
listed on Part B of Schedule 2.8 and each Subsidiary of the Company incorporated
under the laws of Ireland that becomes a Designated Borrower under the Irish
Revolving Credit Facility pursuant to subsection 2.8 after the Closing Date.

 

“Irish Revolving Credit
Borrowing”:  a group of Irish
Revolving Credit Loans of a single Type and in the same Currency made by the
Irish Revolving Credit Lenders, as the case may be, on a single date and, if
applicable, as to which a single Interest Period is in effect.

 

“Irish Revolving Credit
Commitment”:  as to any Irish
Revolving Credit Lender at any time, the obligation of such Lender to make
Irish Revolving Credit Loans in an aggregate amount at any one time outstanding
not to exceed the amount set forth opposite such Lender’s name on
Schedule I under the caption “Irish Revolving Credit Commitment”, as such
amount may be increased or reduced from time to time in accordance with the
provisions of this Agreement.

 

“Irish Revolving Credit
Commitment Percentage”:  as to any
Irish Revolving Credit Lender at any time, the percentage which such Lender’s
Irish Revolving Credit Commitment then constitutes of the aggregate Irish
Revolving Credit Commitments (or, at any time after the Irish Revolving Credit
Commitments shall have expired or terminated, the percentage which the
aggregate principal amount of such Lender’s Irish Revolving Credit Loans then
outstanding constitutes of the aggregate principal amount of the Irish Revolving
Credit Loans then outstanding).

 

“Irish Revolving Credit
Facility”:  in an initial amount of
$800,000,000 or, at any time, the aggregate amount of the Irish Revolving
Credit Lenders’ Irish Revolving Credit Commitments at such time.

 

“Irish Revolving Credit
Lender”:  a Lender that has an Irish
Revolving Credit Commitment.

 

“Irish Revolving Credit Loans”:  as defined in subsection 2.1(a)(iii).

 

“Irish Term Borrower”:  the Company.

 

“Irish Term Borrowing”:  a group of Irish Term Loans of a single Type
and in the same Currency made by the Irish Term Loan Lenders on a single date
and, if applicable, as to which a single Interest Period is in effect.

 

“Irish Term Commitment”:  as to any Irish Term Loan Lender at any time,
the amount set forth opposite such Lender’s name on Schedule I hereto under the
caption “Irish Term Commitment”, as such amount may be reduced at or prior to
such time in accordance with the provisions of this Agreement.

 

“Irish Term Facility”:  an initial amount of $400,000,000 or, at any
time, the aggregate amount of the Irish Term Loan Lenders’ Irish Term
Commitments or Irish Term Loans outstanding at such time.

 

“Irish Term Loan”:  as defined in subsection 2.2(b).

 

15

 

“Irish Term Loan Lender”:  a Lender that has an Irish Term Commitment or
an Irish Term Loan outstanding.

 

“Issuance”:  with respect
to any Letter of Credit means the issuance, amendment, renewal or extension of
such Letter of Credit.

 

“Issuing Bank”:  each Lender which has a Letter of Credit
Commitment  or any other Lender or any Assignee to
which all or a portion of the Letter of Credit Commitment hereunder has been
assigned pursuant to subsection 10.7 so long as such Lender or Assignee
expressly agrees to perform in accordance with their terms all of the
obligations that by the terms of this Agreement are required to be performed by
it as an Issuing Bank and notifies the Agent of its applicable issuing office
(which information shall be recorded by the Agent ), for so long as such
Issuing Bank, Lender or Assignee, as the case may be, shall have a Letter of
Credit Commitment.

 

“Japanese Borrower”:  a Japanese Revolving Credit Borrower or a
Japanese Term Borrower.

 

“Japanese Revolving
Credit Borrower”:  each US Borrower,
each Designated Borrower listed on Part D of Schedule 2.8 and each Subsidiary
of the Company organized under the laws of Japan that becomes a Designated
Borrower under the Japanese Revolving Credit Facility pursuant to subsection
2.8 after the Closing Date.

 

“Japanese Revolving
Credit Borrowing”:  a group of
Japanese Revolving Credit Loans of a single Type and in the same Currency made
by the Japanese Revolving Credit Lenders, as the case may be, on a single date
and, if applicable, as to which a single Interest Period is in effect.

 

“Japanese Revolving Credit
Commitment”:  as to any Japanese
Revolving Credit Lender at any time, the obligation of such Lender to make
Japanese Revolving Credit Loans and of such Japanese Revolving Credit Lender
and its Affiliates to purchase participating interests in Yen Swing Line Loans
in an aggregate amount at any one time outstanding not to exceed the amount set
forth opposite such Lender’s name on Schedule I under the caption “Japanese
Revolving Credit Commitment”, as such amount may be increased or reduced from
time to time in accordance with the provisions of this Agreement.

 

“Japanese Revolving
Credit Commitment Percentage”:  as to
any Japanese Revolving Credit Lender at any time, the percentage which such
Lender’s Japanese Revolving Credit Commitment then constitutes of the aggregate
Japanese Revolving Credit Commitments (or, at any time after the Japanese
Revolving Credit Commitments shall have expired or terminated, the percentage
which the aggregate principal amount of such Lender’s Japanese Revolving Credit
Loans then outstanding constitutes of the aggregate principal amount of the Japanese
Revolving Credit Loans then outstanding.

 

“Japanese Revolving
Credit Facility”:  an initial amount
of $1,200,000,000 or, at any time, the aggregate amount of the Japanese
Revolving Credit Lenders’ Japanese Revolving Credit Commitments at such time.

 

“Japanese Revolving
Credit Lender”:  a Lender that has a
Japanese Revolving Credit Commitment.

 

“Japanese Revolving
Credit Loans”:  as defined in
subsection 2.1(a)(iv).

 

16

 

“Japanese Term Borrower”:  GMAC Commercial Mortgage Funding Asia, K.K.

 

“Japanese Term Borrowing”:  a group of Japanese Term Loans of a single
Type and in the same Currency made by the Japanese Term Loan Lenders on a single
date and, if applicable, as to which a single Interest Period is in effect.

 

“Japanese Term Commitment”:  as to any Japanese Term Loan Lender at any
time, the amount set forth opposite such Lender’s name on Schedule I hereto
under the caption “Japanese Term Commitment”, as such amount may be reduced at
or prior to such time in accordance with the provisions of this Agreement.

 

“Japanese Term Facility”:  an initial amount of $300,000,000 or, at any
time, the aggregate amount of the Japanese Term Loan Lenders’ Japanese Term
Commitments or Japanese Term Loans outstanding at such time.

 

“Japanese Term Loan”:  as defined in subsection 2.2(c).

 

“Japanese Term Loan
Lender”:  a Lender that has a
Japanese Term Commitment or has a Japanese Term Loan outstanding.

 

“L/C Cash Deposit Account”:  an interest bearing cash deposit account to
be established and maintained by the Agent, over which the Agent shall have
sole dominion and control, upon terms reasonably satisfactory to the Agent.

 

“L/C Related Documents”:  as defined in subsection 2.13(i).

 

“Lenders”:  as defined in the preamble hereto.

 

“Letter of Credit”:  as defined in subsection 2.1(c).

 

“Letter of Credit
Agreement”:  as defined in subsection
2.3(a).

 

“Letter of Credit
Commitment”:  with respect to each
Issuing Bank, the obligation of such Issuing Bank to issue Letters of Credit
for the account of the Borrowers and their specified Subsidiaries in amounts
(based on the Equivalent in Dollars thereof) not to exceed in the aggregate the
Dollar amount set forth opposite the Issuing Bank’s name on the Schedule I
attached hereto and identified as such, as such amount may be reduced from time
to time pursuant to subsection 2.9, increased by designation to the Agent and
the Company from time to time or changed as a result of an assignment pursuant
to subsection 10.7.

 

“Letter of Credit
Facility”:  at any time, an amount
equal to the lesser of (a) the aggregate amount of the Issuing Banks’ Letter of
Credit Commitments at such time and (b) $350,000,000.

 

“Lien”:  any mortgage, pledge, lien, security
interest, conditional sale or other title retention agreement or other similar
encumbrance.

 

“Loan”:  a Revolving Credit Loan, a Term Loan, a Swing
Line Loan, or a Yen Swing Line Loan, as the context shall require; collectively,
the “Loans.”

 

“Loan Documents”:  this Agreement, each Note, the Guaranty and
each Letter of Credit Agreement.

 

17

 

“Loan Parties”:  the Company, the Designated Borrowers and the
Guarantors.

 

“London Banking Day”:  any day on which banks in London are open for
general banking business, including dealings in foreign currency and exchange.

 

“Majority Lenders”:  at any time, Lenders holding or owed at least
a majority in interest of the sum of (a) the aggregate principal amount
(based on the Equivalent thereof in Dollars at such time) of all Loans
outstanding (with Swing Line Loans being deemed for purposes of this definition
to be held ratably by all US Revolving Credit Lenders and with Yen Swing Line
Loans being deemed for purposes of this definition to be held ratably by all
Japanese Revolving Credit Lenders) and (b) the Available Revolving Credit
Commitments.

 

“Mandatory Cost”:  with respect to any period, the percentage
rate per annum determined in accordance with Schedule 1.1.

 

“Material Adverse Effect”:  a material adverse effect on (a) the
financial condition of the Company and its Subsidiaries taken as a whole or
(b) the validity or enforceability of this Agreement or the rights or
remedies of the Agent and the Lenders hereunder.

 

“Mezzanine Equity”:  “mezzanine” or “temporary” equity issued to
members of management of the Company which the Company can become obligated to
redeem only upon the death or disability of the holder thereof.

 

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

 

“Multiemployer Plan”:  a multiemployer plan, as defined in
Section 4001(a)(3) of ERISA, to which the Company or any ERISA Affiliate
is making or accruing an obligation to make contributions, or in respect of which
the Company or any ERISA Affiliate has liability under Section 4212 of ERISA.

 

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

 

“Non-Consenting Lender”:  in
the event that the Majority Lenders have agreed to any consent, waiver or
amendment pursuant to subsection 10.1 that requires the consent of the Majority
Lenders, any Lender who is entitled to agree to such consent, waiver or
amendment but who does not so agree.

 

“Non-Excluded Taxes”:  as defined in subsection 2.21(a).

 

“Non-Executing Banks”:  as defined in subsection 10.9(b).

 

“Non-US Lender”:  as defined in subsection 2.21(b).

 

“Note”:  as defined in subsection 10.7(d).

 

“Notice of Issuance”:  as defined in subsection 2.3(a).

 

18

 

“Notice of Rollover/Conversion”:  as defined in subsection 2.5(b)(ix).

 

“Other Lender”:  as defined in subsection 2.1(b)(i).

 

“Participant”:  as defined in subsection 10.7(c)(i).

 

“Patriot Act”:  as defined in subsection 10.15.

 

“Payment Office”:  for each Type of Loan and each Currency, the
Payment Office set forth in respect thereof in the Administrative Schedule.

 

“PBGC”:  the Pension Benefit Guaranty Corporation (or
any successor).

 

“Permanent Securities”:  (a) the public debt securities issued on the Closing Date or (b) if the
Bridge Facility shall have been funded on the Closing Date, other senior
secured or unsecured debt securities or other Indebtedness issued or incurred
by the Company for the purpose of refinancing the Bridge Facility.

 

“Permitted Receivables
Financing”:  the limited recourse
sale or financing of any real estate receivables and mortgage notes and related
security by the Company or any of its Subsidiaries in connection with the sale,
securitization or syndication thereof (including for purposes of this
definition planned sales, securitizations or syndications scheduled (in the
ordinary course of business consistent with past practice) for execution within
60 days), which sale, securitization or syndication is (a) (i) with recourse
only to the extent usual and customary in asset securitization transactions for
companies with credit characteristics similar to those of the Company or such
Subsidiary and (ii) consistent with past practice or prudent business practice
or (b) is otherwise upon terms and conditions reasonably satisfactory to the Agent.

 

“Permitted Receivables
Subsidiary”:  any single purpose
Subsidiary engaged principally in a Permitted Receivables Financing.

 

“Person”:  an individual, partnership, corporation,
company, business trust, joint stock company, trust, unincorporated
association, joint venture, Governmental Authority or other entity of whatever
nature.

 

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

 

“Pounds Sterling” and
“£”:  the lawful money of the
United Kingdom.

 

“Purchase Agreement”:  that certain Stock Purchase Agreement dated
as of August 2, 2005, as amended, among General Motors Acceptance Corporation,
GMAC Mortgage Group, Inc., GMAC Commercial Holding Corp. and GMACCH Investor
LLC, as amended, supplemented or otherwise modified from time to time.

 

“Qualifying IPO”:  the issuance by the Company or a direct or
indirect corporate parent thereof of its common equity interests in an
underwritten primary and/or secondary public offering (other than a public
offering pursuant to a registration statement on Form S-8) pursuant

 

19

 

to an effective registration
statement filed with the SEC in accordance with the Securities Act of 1933.

 

“Receivable”:  any right of payment from or on behalf of any
obligor (including mortgagor), whether constituting an account, chattel paper,
instrument, general intangible or otherwise, acquired or arising from the
financing or leasing by the Company or any of its Subsidiaries of property or
services, and monies due thereunder, security interests in the property and
services financed or leased thereby and any and all other related rights.

 

“Reference Lenders”:  Citibank or the applicable affiliate for the
applicable Currency, JPMorgan Chase Bank, N.A. and Deutsche Bank AG New York
Branch.

 

“Refunded Swing Line
Loans”:  as defined in subsection 2.6(c).

 

“Refunded Yen Swing Line
Loans”:  as defined in subsection 2.7(c).

 

“Register”:  as defined in subsection 10.7(b)(iv).

 

“Requirement of Law”:  as to any Person, any law, treaty, rule or
regulation or determination of an arbitrator or a court or other Governmental
Authority, in each case applicable to or binding upon such Person or any of its
property or to which such Person or any of its property is subject.

 

“Revolver Credit Borrower”:  a Borrower under any Revolving Credit
Facility.

 

“Revolving Credit
Borrowing”:  any of a Canadian
Revolving Credit Borrowing, an Irish Revolving Credit Borrowing, a US Revolving
Credit Borrowing or a Japanese Revolving Credit Borrowing.

 

“Revolving Credit
Commitment”:  any of a Canadian
Revolving Credit Commitment, an Irish Revolving Credit Commitment, a US
Revolving Credit Commitment or a Japanese Revolving Credit Commitment.

 

“Revolving Credit
Commitment Percentage”:  any of a
Canadian Revolving Credit Commitment Percentage, the Irish Revolving Credit
Commitment Percentage, the US Revolving Credit Commitment Percentage or the Japanese
Revolving Credit Commitment Percentage.

 

“Revolving Credit
Facility”:  any of the Canadian
Revolving Credit Facility, the Irish Revolving Credit Facility, the US
Revolving Credit Facility or the Japanese Revolving Credit Facility.

 

“Revolving Credit Lender”:  a Lender that has a Revolving Credit
Commitment.

 

“Revolving Credit Loans”:  any of a Canadian Revolving Credit Loan, an
Irish Revolving Credit Loan, a US Revolving Credit Loan or a Japanese Revolving
Credit Loan.

 

“Revolving Credit Usage”:  as to any Lender at any time (a) under the
Canadian Revolving Credit Facility, the sum of (I) the aggregate outstanding
principal amount at such time of all Canadian Revolving Credit Loans
denominated in Dollars made by such Lender plus (II) the Equivalent in
Dollars of the aggregate outstanding principal amount of all Canadian Revolving
Credit Loans denominated in Canadian Dollars, Euros, Pounds Sterling and Yen (as

 

20

 

the case may be) made by
such Lender, (b) under the Irish Revolving Credit Facility, the sum of (I) the
aggregate outstanding principal amount at such time of all Irish Revolving
Credit Loans denominated in Dollars made by such Lender plus (II) the
Equivalent in Dollars of the aggregate outstanding principal amount of all Irish
Revolving Credit Loans denominated in Euros, Pounds Sterling and Yen (as the
case may be) made by such Lender plus (III) such Lender’s Irish
Revolving Credit Commitment Percentage of the aggregate principal amount (based
on the Equivalent in Dollars thereof insofar as any Letters of Credit are not
denominated in Dollars) of the Letters of Credit outstanding at such time, (c)
under the Japanese Revolving Credit Facility, the sum of (I) the aggregate
outstanding principal amount at such time of all Japanese Revolving Credit
Loans denominated in Dollars plus (II) the Equivalent in Dollars of the
aggregate outstanding principal amount of all Revolving Credit Loans
denominated in Euros, Pounds Sterling and Yen (as the case may be) made by such
Lender under such Facility plus (III) such Lender’s Japanese Revolving
Credit Commitment Percentage, if any, of the aggregate principal amount of the
Yen Swing Line Loans then outstanding, if any, and (d) under the US Revolving
Credit Facility, the sum of (I) the aggregate outstanding principal amount at
such time of all US Revolving Credit Loans denominated in Dollars made by such
Lender plus (II) such Lender’s US Revolving Credit Commitment
Percentage, if any, of the aggregate principal amount of the Swing Line Loans
then outstanding, if any.

 

“S&P”:  Standard & Poor’s Ratings Services, a
division of The McGraw-Hill Companies, Inc., and its successors.

 

“Schedule I Bank”:  any bank named on Schedule I to the Bank Act
(Canada).

 

“Schedule II Bank”:  any Lender named on Schedule II to the Bank
Act (Canada).

 

“Schedule III Bank”:  any
Lender named on Schedule III to the Bank Act (Canada) or any other Person
established under the laws of Canada or any province or territory thereof that
is authorized to carry on business in Canada pursuant to Part XII of the Bank
Act (Canada).

 

“Short Term Prime Rate”: the short term prime rate in effect
from time to time at The Bank of Tokyo-Mitsubishi UFJ, Ltd’s principal office
in Tokyo, Japan.

 

“Solvent” and “Solvency”: 
with respect to any Person on a particular date, that on such date
(a) the fair value of the property of such Person is greater than the
total amount of liabilities, including, without limitation, contingent
liabilities, of such Person, (b) the present fair salable value of the
assets of such Person is not less than the amount that will be required to pay
the probable liability of such Person on its debts as they become absolute and
matured, (c) such Person does not intend to, and does not believe that it
will, incur debts or liabilities beyond such Person’s ability to pay such debts
and liabilities as they mature and (d) such Person is not engaged in
business or a transaction, and is not about to engage in business or a
transaction, for which such Person’s property would constitute an unreasonably
small capital. Unless otherwise provided under applicable law, the amount of
contingent liabilities at any time shall be computed as the amount that, in
light of all the facts and circumstances existing at such time, represents the
amount that can reasonably be expected to become an actual or matured
liability.

 

“Specified Asset Categories”: 
the collective reference to (i) Specified Mortgage Loan Interests and
(ii) Specified Loans and Securities.

 

“Specified Loans and Securities”:  all fixed and floating rate mortgage loan
interests and highly-rated securities which are not owned by any Specified
Subsidiary and (a) are direct

 

21

 

obligations
of any Government Sponsored Enterprise or the United States government or any
agency thereof and backed by the full faith and credit of the United States or
(b) are obligations that any Government Sponsored Enterprise or the United
States government or any agency thereof backed by the full faith and credit of
the United States has guaranteed or committed to purchase or (c) are rated, on
a long-term basis, at least “A-” by S&P, “A3” by Moody’s or “A-” by Fitch.

 

“Specified Mortgage Loan Interests”:  all fixed and floating rate mortgage loan
interests that are not owned by any Specified Subsidiary and either (a) have a
debt service coverage ratio (as determined in compliance with the Company’s
underwriting standards as in effect on the date hereof) of at least 1.20:1.00
and a loan to value ratio (as determined in compliance with the Company’s
underwriting standards as in effect on the date hereof) of no greater than 80%
according to the loan underwriting files used by the Company to manage such
assets, and/or (b) are loan interests that have been targeted for a sale,
securitization or syndication transaction scheduled (in the ordinary course of
business consistent with past practice) for execution within 60 days.

 

“Specified Subsidiaries”: 
the collective reference to (i) GMAC Commercial Mortgage Bank, an
institution chartered under the laws of the State of Utah, (ii) Escrow Bank
USA, an institution chartered under the laws of the State of Utah, (iii) GMAC
Commercial Mortgage Bank Europe plc, an Irish licensed bank and (iv) any
Subsidiary of any of the foregoing.

 

“Sub-Agent”:  any
Affiliate of the Agent as may be designated in writing to the Company and, with
respect to Canadian Revolving Credit Loans, Citibank, N.A., Canadian branch.

 

“Subsidiary”:  as to any Person, any corporation, limited
liability company, partnership or other similar entity, of which at least a majority
of the outstanding stock or other equity interests having by the terms thereof
ordinary voting power to elect a majority of the board of directors of such
corporation, partnership or other similar entity (irrespective of whether or
not at the time stock or interests of any other class or classes of such
corporation, partnership or other similar entity shall have or might have
voting power by reason of the happening of any contingency) is at the time
owned by such Person, or by one or more Subsidiaries, or by such Person and one
or more Subsidiaries. Unless otherwise qualified, all references to a “Subsidiary”
or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or
Subsidiaries of the Company.

 

“Surviving Indebtedness”:  Indebtedness of the Company and each of its
Subsidiaries  outstanding
immediately before and after the Closing Date and set forth on Schedule V
hereto.

 

“Swing Line Borrowing”:  a group of Swing Line Loans made by the Swing
Line Lenders on a single date.

 

“Swing Line Commitment”:  with respect to each Swing Line Lender, the
obligation of such Swing Line Lender to make Swing Line Loans pursuant to
subsection 2.6 in the amount referred to therein.

 

“Swing Line Facility”:
an initial amount of $200,000,000 or, at any time, the aggregate amount of the
Swing Line Lenders’ Swing Line Commitments at such time.

 

“Swing Line Lenders”:  each Lender which has a Swing Line Commitment.”

 

22

 

“Swing Line Loan
Participation Certificate”:  a certificate,
substantially in the form of Exhibit J.

 

“Swing Line Loans”:  as defined in subsection 2.6(a).

 

“Syndication Agent”:  as defined in the preamble hereto.

 

“Synthetic Debt”:  with respect to any Person, without
duplication of any clause within the definition of “Indebtedness,” all (a) obligations
of such Person under any lease that is treated as an operating lease for
financial accounting purposes and a financing lease for tax purposes (i.e., a “synthetic
lease”), (b) obligations (other than syndication proceeds in the ordinary
course) of such Person in respect of transactions entered into by such Person
(other than deposit liabilities), the proceeds from which would be reflected on
the financial statements of such Person in accordance with GAAP as cash flows
from financings at the time such transaction was entered into (other than as a
result of equity contributions or the issuance of equity interests) and
(c) obligations of such Person in respect of other transactions entered
into by such Person that are not otherwise addressed in the definition of “Indebtedness”
or in clause (a) or (b) above that are intended to function primarily as a
borrowing of funds (including, without limitation, any minority interest
transactions that function primarily as a borrowing).

 

“Target Operating Day”:  any day that is not (a) a Saturday or
Sunday, (b) Christmas Day or New Year’s Day or (c) any other day on
which the Trans-European Real-time Gross Settlement Operating System (or any
successor settlement system) is not operating (as determined by the Agent).

 

“Taxes” as defined in
subsection 2.21(a).

 

“Term Borrower”:  any Borrower under a Term Loan Facility.

 

“Term Borrowing”:  any of a US Term Borrowing, an Irish Term
Borrowing or a Japanese Term Borrowing.

 

“Term Commitment”:  any of a US Term Commitment, an Irish Term
Commitment or a Japanese Term Commitment.

 

“Term Facility”:  any of the Irish Term Facility, the US Term
Facility or the Japanese Term Facility.

 

“Termination Date”:  March 23, 2011.

 

“Term Loan Lender”:  a Lender that has a Term Commitment.

 

“Term Loans”:  any of a US Term Loan, an Irish Term Loan or
a Japanese Term Loan.

 

“Total Capitalization”:  as of any date of determination, (a) the sum
of (i) Total Consolidated Indebtedness and (ii) consolidated shareholders’
equity of the Company and its Subsidiaries as determined in accordance with
GAAP applied on a consistent basis (it being understood and agreed that,
without limiting the generality of the foregoing, “consolidated shareholders’
equity” as used in this definition shall include Mezzanine Equity and 75% of
the amount of any Hybrid Capital as to which equity credit is given by Moody’s
or S&P (including, for the avoidance of doubt, any back-to-back instruments
in respect thereof), in each case unless

 

23

 

and until such time as such
equity or instruments become repayable or redeemable on a mandatory basis in
accordance with the terms thereof), less (b) the aggregate amount of Attributed
Equity of all Banking and Market Destined Assets.

 

“Total Consolidated
Indebtedness”:  as of any date of
determination, (a) the sum of (i) all indebtedness for borrowed money of
the Company and its Subsidiaries on a consolidated basis as reflected on the
consolidated balance sheet of the Company as determined in accordance with GAAP
applied on a consistent basis (but in any event excluding Mezzanine Equity and
75% of the amount of any obligations in respect of any Hybrid Capital as to
which equity credit is given by Moody’s or S&P (including, for the
avoidance of doubt, any back-to-back obligations in respect thereof), in each
case unless and until such time as such equity or instruments become repayable
or redeemable on a mandatory basis in accordance with the terms thereof) and (ii) Indebtedness
of the types described in clause (f) of the definition thereof (but in any
event excluding Mezzanine Equity and 75% of the amount of any obligations in
respect of any Hybrid Capital as to which equity credit is given by S&P or
Moody’s (including, for the avoidance of doubt, any back-to-back obligations in
respect thereof), in each case unless and until such time as such equity or
instruments become repayable or redeemable on a mandatory basis in accordance
with the terms thereof) and (g) of the definition thereof, and provided that in
the case of such clause (g), such Guarantees shall be included for purposes of
this definition only to the extent they are guarantees of, and only in the
amount of, any Indebtedness referred to in clauses (i) and (ii) of this clause
(a)) of the Company and its Subsidiaries on a consolidated basis, as determined
in accordance with GAAP applied on a consistent basis, less (b) the aggregate
amount of Attributed Indebtedness with respect to all Banking and Market
Destined Assets.

 

“Transferee”:  as defined in subsection 10.7(g).

 

“Treaty on European Union”:  the Treaty of Rome of March 25, 1957, as
amended by the Single European Act of 1986 and the Maastricht Treaty (which was
signed at Maastricht on February 7, 1992 and came into effect on
November 1, 1993), as amended from time to time.

 

“Type”:  as to any Revolving Credit Loan or Term Loan,
its nature as an Base Rate Loan (solely in the case of Loans denominated in
Dollars), Eurocurrency Loan, Canadian Prime Rate Loan or Bankers’ Acceptance.

 

“Unissued Letter of
Credit Commitment”:  with respect to
any Issuing Bank, the obligation of such Issuing Bank to issue Letters of
Credit for the account of any Borrower or its specified Subsidiaries in an
amount equal to the excess of (a) the amount of its Letter of Credit Commitment
over (b) the sum of (i) aggregate Available Letter of Credit Amount of all
Letters of Credit issued by such Issuing Bank and (ii) the aggregate
outstanding principal amount of all Revolving Credit Borrowings made by such
Issuing Bank pursuant to subsection 2.3(c) that have not been ratably funded by
the Lenders.

 

“US Borrower”:  a US Revolving Credit Borrower or a US Term
Borrower.

 

“US Revolving Credit Borrower”:  the Company, each Designated Borrower listed
on Part C of Schedule 2.8 and each Subsidiary of the Company organized under
the laws of a jurisdiction located within the United States that becomes a
Designated Borrower under the US Revolving Credit Facility pursuant to
subsection 2.8 after the Closing Date.

 

24

 

“US  Revolving
Credit Borrowing”:  a group of US
Revolving Credit Loans of a single Type and in the same Currency made by the US
Revolving Credit Lenders, as the case may be, on a single date and, if
applicable, as to which a single Interest Period is in effect.

 

“US Revolving Credit
Commitment”:  as to any US Revolving
Credit Lender at any time, the obligation of such Lender to make US Revolving
Credit Loans and of such Lender and its Affiliates to purchase participating
interests in Swing Line Loans in an aggregate amount at any one time
outstanding not to exceed the amount set forth opposite such Lender’s name on
Schedule I under the caption “US Revolving Credit Commitment”, as such
amount may be increased or reduced from time to time in accordance with the
provisions of this Agreement.

 

“US Revolving Credit
Commitment Percentage”:  as to any US
Revolving Credit Lender at any time, the percentage which such Lender’s US
Revolving Credit Commitment then constitutes of the aggregate US Revolving
Credit Commitments (or, at any time after the US Revolving Credit Commitments
shall have expired or terminated, the percentage which the aggregate principal
amount of such Lender’s US Revolving Credit Loans then outstanding constitutes
of the aggregate principal amount of the US Revolving Credit Loans then
outstanding.

 

“US Revolving Credit
Facility”:  an initial amount of
$350,000,000 or, at any time, the aggregate amount of the US Revolving Credit
Lenders’ US Revolving Credit Commitments at such time.

 

“US Revolving Credit
Lender”:  a Lender that has a US
Revolving Credit Commitment.

 

“US Revolving Credit
Loans”:  as defined in subsection
2.1(a)(i).

 

“US Tax Compliance
Certificate”:  as defined in
subsection 2.21(b).

 

“US Term Borrower”:  the Company.

 

“US Term Borrowing”:  a group of US Term Loans of a single Type and
in the same Currency made by the US Term Loan Lenders on a single date and, if
applicable, as to which a single Interest Period is in effect.

 

“US Term Commitment”:  as to any US Term Loan Lender at any time,
the amount set forth opposite such Lender’s name on Schedule I hereto under the
caption “US Term Commitment”, as such amount may be reduced at or prior to such
time in accordance with the provisions of this Agreement.

 

“US Term Facility”:  in an initial amount of $2,050,000,000 or, at
any time, the aggregate amount of the US Term Loan Lenders’ US Term Commitments
or the US Term Loans outstanding at such time.

 

“US Term Loan”:  as defined in subsection 2.2(a).

 

“US Term Loan Lender”:  a Lender that has a US Term Commitment or a
US Term Loan outstanding.

 

“Voting Stock”:  capital stock issued by a corporation, or
equivalent interests in any other Person, the holders of which are ordinarily,
in the absence of contingencies, entitled to vote for

 

25

 

the election of directors (or persons performing
similar functions) of such Person, even if the right so to vote has been
suspended by the happening of such a contingency.

 

“Yen” and “¥”:  the lawful money of Japan.

 

“Yen Overdraft Swing Line
Commitment”: with respect to the Yen Swing Line Lender, the obligation of
such Yen Swing Line Lender to make Yen Overdraft Swing Line Loans pursuant to subsection
2.7.

 

“Yen Overdraft Swing Line
Loans”: as defined in subsection 2.7(a).

 

“Yen Swing Line Borrowing”:
a group of Yen Swing Line Loans made by the Yen Swing Line Lender on a single
date.

 

“Yen Swing Line
Commitment”:  with respect to the Yen
Swing Line Lender, the obligation of such Yen Swing Line Lender to make Yen
Swing Line Loans (including any Yen Overdraft Swing Line Loans constituting Yen
Swing Line Loans as provided in subsection 2.7) pursuant to and in the maximum
aggregate amount referred to in subsection 2.7.

 

“Yen Swing Line Facility”:
 on any date, the lesser of (a) $200,000,000
and (b) the amount of the Yen Swing Line Lender’s Yen Swing Line Commitment on
such date; provided, however, that the Yen Swing Lender may increase or
decrease from time to time such maximum amount, so long as (i) such increase or
decrease is set forth in a written notification signed by the Yen Swing Line
Lender, (ii) such increase does not cause such maximum amount to exceed
$300,000,000 and (iii) no such increase or decrease shall be effective until
written notice thereof is provided to the Agent. In the event that the
necessary internal approvals are received by the Yen Swing Line Lender, a
written notice shall be delivered to the Japanese Borrowers domiciled in Japan
indicating that the Yen Swing Line Lender shall have a Yen Swing Line
Commitment of $200,000,000 and specifying the effective date for such new Yen
Swing Line Commitment. Subsequent to the delivery of such notice, any decrease
in the Yen Swing Line Facility shall not cause the Yen Swing Line Lender’s Yen
Swing Line Commitment to be less than $200,000,000. Notwithstanding anything to
the contrary contained herein, nothing in the preceding shall constitute a
commitment by the Yen Swing Line Lender to provide any such increase.

 

“Yen Swing Line Lender”:  The Bank
of Tokyo-Mitsubishi UFJ, Ltd and its
successors and assigns.

 

“Yen Swing Line Loan
Participation Certificate”:  a
certificate, substantially in the form of Exhibit K.

 

“Yen Swing Line Loans”:
 as defined in subsection 2.7(a) (inclusive
of Yen Overdraft Swing Line Loans to the extent provided for in subsection
2.7(b)).

 

1.2.  Other
Definitional Provisions.
(a)  Unless otherwise specified therein, all terms defined in this
Agreement shall have the defined meanings when used in any certificate or other
document made or delivered pursuant hereto.

 

(b)  As used
herein, and in any certificate or other document made or delivered pursuant
hereto, accounting terms relating to the Company and its Subsidiaries not
defined in subsection 1.1 and

 

26

 

accounting terms partly defined in subsection 1.1, to the extent not
defined, shall have the respective meanings given to them under GAAP.

 

(c)  The words “hereof”,
“herein” and “hereunder” and words of similar import when used in this
Agreement shall refer to this Agreement as a whole and not to any particular
provision of this Agreement, and Section, subsection, Schedule and Exhibit
references are to this Agreement unless otherwise specified.

 

(d)  The meanings
given to terms defined herein shall be equally applicable to both the singular
and plural forms of such terms.

 

SECTION 2.  AMOUNT AND TERMS OF THE
FACILITIES

 

2.1.  Revolving
Credit Commitments. (a)  Subject
to the terms and conditions hereof:

 

(i)  Each
US Revolving Credit Lender severally agrees to make revolving credit loans (“US
Revolving Credit Loans”) denominated in Dollars to the US Revolving Credit Borrowers
from time to time during the Commitment Period in an aggregate principal amount
at any one time outstanding not to exceed such Lender’s US Revolving Credit
Commitment. During the Commitment Period, the US Revolving Credit Borrowers may
use the US Revolving Credit Commitments by borrowing, prepaying the US Revolving
Credit Loans in whole or in part, and reborrowing, all in accordance with the
terms and conditions hereof. Notwithstanding anything to the contrary contained
in this Agreement, in no event (after giving effect to the use of proceeds of
any US Revolving Credit Borrowing or other concurrent Borrowing) shall (i) any US
Revolving Credit Lender’s US Revolving Credit Commitment Percentage of a US Revolving
Credit Borrowing exceed such Lender’s Available Revolving Credit Commitment in
respect of the US Revolving Credit Facility at the time of such Borrowing or
(ii) the aggregate amount of Revolving Credit Usage under the US Revolving
Credit Facility exceed the aggregate US Revolving Credit Commitments then in
effect of all US Revolving Credit Lenders. The US Revolving Credit Loans shall
be made in Dollars and may from time to time be (i) Eurocurrency Loans (denominated
in Dollars only) or (ii) in the case of US Revolving Credit Loans denominated
in Dollars only, Base Rate Loans, in each case as determined by the applicable US
Revolving Credit Borrower and notified to the Agent in accordance with
subsections 2.4 and 2.10; provided that no US Revolving Credit Loan
shall be made as a Eurocurrency Loan after the day that is one month prior to
the Termination Date.

 

(ii)  Each
Canadian Revolving Credit Lender severally agrees to make Canadian Revolving
Credit Loans denominated in Canadian Dollars, Dollars, Pounds Sterling, Euros and
Yen to the Canadian Revolving Credit Borrowers from time to time during the
Commitment Period in an aggregate principal amount (based in respect of any
Canadian Revolving Credit Loans to be denominated in Canadian Dollars, Pounds
Sterling, Euros or Yen on the Equivalent thereof in Dollars determined on the
date of delivery of the applicable notice of borrowing) at any one time
outstanding not to exceed such Lender’s Canadian Revolving Credit Commitment. During
the Commitment Period, the Canadian Revolving Credit Borrowers may use the
Canadian Revolving Credit Commitments by borrowing, prepaying the Canadian
Revolving Credit Loans in whole or in part, and reborrowing, all in accordance
with the terms and conditions hereof. Notwithstanding anything to the contrary
contained in this Agreement, in no event (after giving effect to the use of
proceeds of any Canadian Revolving Credit Borrowing or other concurrent
Borrowing) shall (i) any Canadian Revolving Credit Lender’s Canadian Revolving
Credit Commitment Percentage of a Canadian Revolving Credit Borrowing exceed
such Lender’s Available Revolving Credit Commitment in respect of the Canadian
Revolving Credit Facility at

 

27

 

the time of such Borrowing
or (ii) at the time of any borrowing, the aggregate amount of Revolving Credit
Usage under the Canadian Revolving Credit Facility exceed the aggregate
Canadian Revolving Credit Commitments then in effect of all Canadian Revolving
Credit Lenders. The Canadian Revolving Credit Loans may be made in Dollars,
Canadian Dollars, Pounds Sterling, Euros or Yen and may from time to time be
(i) in the case of each Canadian Revolving Credit Borrower that is not
domiciled in Canada, (A) Eurocurrency Loans and (B) in the case of
Canadian Revolving Credit Loans denominated in Dollars only, Base Rate Loans
and (ii) in the case of each Canadian Revolving Credit Borrower that is
domiciled in Canada, denominated in Canadian Dollars as Canadian Prime Rate
Loans or Bankers’ Acceptances (as provided in subsection 2.5), in each case as
determined by the applicable Canadian Revolving Credit Borrower and notified to
the Agent in accordance with subsections 2.4 and 2.10; provided that no
Canadian Revolving Credit Loan shall be made as a Eurocurrency Loan after the
day that is one month prior to the Termination Date.

 

(iii)  Each
Irish Revolving Credit Lender severally agrees to make revolving credit loans (“Irish
Revolving Credit Loans”) denominated in Dollars, Pounds Sterling, Euros and
Yen to the Irish Revolving Credit Borrowers from time to time during the
Commitment Period in an aggregate principal amount (based in respect of any
Irish Revolving Credit Loans to be denominated in Pounds Sterling, Euros or Yen
on the Equivalent thereof in Dollars determined on the date of delivery of the
applicable notice of borrowing) at any one time outstanding not to exceed such
Lender’s Irish Revolving Credit Commitment. During the Commitment Period, the
Irish Revolving Credit Borrowers may use the Irish Revolving Credit Commitments
by borrowing, prepaying the Irish Revolving Credit Loans in whole or in part,
and reborrowing, all in accordance with the terms and conditions hereof. Notwithstanding
anything to the contrary contained in this Agreement, in no event (after giving
effect to the use of proceeds of any Irish Revolving Credit Borrowing or other
concurrent Borrowing) shall (i) any Irish Revolving Credit Lender’s Irish
Revolving Credit Commitment Percentage of an Irish Revolving Credit Borrowing
exceed such Lender’s Available Revolving Credit Commitment in respect of the
Irish Revolving Credit Facility at the time of such Borrowing or (ii) the
aggregate amount of Revolving Credit Usage under the Irish Revolving Credit
Facility exceed the aggregate Irish Revolving Credit Commitments then in effect
of all Irish Revolving Credit Lenders. The Irish Revolving Credit Loans may be
made in Dollars, Pounds Sterling, Euros or Yen and may from time to time be (i)
Eurocurrency Loans or (ii) in the case of Irish Revolving Credit Loans
denominated in Dollars only, Base Rate Loans, in each case as determined by the
applicable Borrower and notified to the Agent in accordance with subsections
2.4 and 2.10; provided that no Irish Revolving Credit Loan shall be made
as a Eurocurrency Loan after the day that is one month prior to the Termination
Date.

 

(iv)  Each
Japanese Revolving Credit Lender severally agrees to make revolving credit
loans (“Japanese Revolving Credit Loans”) denominated in Dollars, Pounds
Sterling, Euros or Yen to the Japanese Revolving Credit Borrowers from time to
time during the Commitment Period in an aggregate principal amount (based in
respect of any Japanese Revolving Credit Loans to be denominated in Pounds Sterling,
Euros or Yen on the Equivalent thereof in Dollars determined on the date of
delivery of the applicable notice of borrowing) at any one time outstanding not
to exceed such Lender’s Japanese Revolving Credit Commitment. During the
Commitment Period, the Japanese Revolving Credit Borrowers may use the Japanese
Revolving Credit Commitments by borrowing, prepaying the Japanese Revolving
Credit Loans in whole or in part, and reborrowing, all in accordance with the
terms and conditions hereof. Notwithstanding anything to the contrary contained
in this Agreement, in no event (after giving effect to the use of proceeds of
any Japanese Revolving Credit Borrowing or other concurrent Borrowing) shall
(i) any Japanese Revolving Credit Lender’s Japanese Revolving Credit

 

28

 

Commitment Percentage of a
Japanese Revolving Credit Borrowing exceed such Lender’s Available Revolving
Credit Commitment in respect of the Japanese Revolving Credit Facility at the
time of such Borrowing or (ii) the aggregate amount of Revolving Credit Usage
under the Japanese Revolving Credit Facility exceed the aggregate Japanese
Revolving Credit Commitments then in effect of all Japanese Revolving Credit
Lenders. The Japanese Revolving Credit Loans may be made in Dollars, Pounds
Sterling, Euro and Yen and may from time to time be (i) Eurocurrency Loans or
(ii) in the case of Japanese Revolving Credit Loans denominated in Dollars
only, Base Rate Loans, in each case as determined by the applicable Japanese
Revolving Credit Borrower and notified to the Agent in accordance with
subsections 2.4 and 2.10; provided that no Japanese Revolving Credit
Loan shall be made as a Eurocurrency Loan after the day that is one month prior
to the Termination Date.

 

(b)  (i)  Notwithstanding
anything to the contrary contained in this Agreement, on and after January 1,
2007, the Company may request from time to time that the aggregate Revolving
Credit Commitments under one or more Revolving Credit Facilities hereunder be
increased by an aggregate amount not to exceed $1,000,000,000. The Company may
(I) request one or more of the Lenders (which request shall be in writing and
sent to the Agent to forward to such Lender or Lenders) to (A) in the case of
existing Revolving Credit Lenders, increase the amount of its Revolving Credit
Commitment under one or more Revolving Credit Facilities or (B) in the case of
existing Term Loan Lenders, provide a Revolving Credit Commitment under one or
more Revolving Credit Facilities and become a Revolving Credit Lender hereunder
and/or (II) arrange for one or more banks or financial institutions not a
party hereto (an “Other Lender”) to become parties to and Revolving
Credit Lenders under this Agreement, provided that the identification and
arrangement of each Other Lender to become a party hereto and a Revolving
Credit Lender under this Agreement shall be made in consultation with the Agent.
In no event may any Revolving Credit Lender’s Revolving Credit Commitment be
increased without the prior written consent of such Lender, nor may any Term
Loan Lender be designated a Revolving Credit Lender without the prior written
consent of such Lender, and the failure of any Lender to respond to the Company’s
request for an increase shall be deemed a rejection by such Lender of the
Company’s request. The aggregate Revolving Credit Commitments of all Revolving
Credit Lenders hereunder may not be increased if, at the time of any proposed
increase hereunder, a Default or Event of Default has occurred and is
continuing. Upon any request by the Company to increase the aggregate Revolving
Credit Commitments hereunder, the Company shall be deemed to have represented
and warranted on and as of the date of such request that (i) each of the
representations and warranties made by the Company in or pursuant to this
Agreement is true and correct on and as of such date as if made on and as of
such date, other than any such representations or warranties that, by their
terms, refer to a specific date other than the date of the proposed increase,
in which case as of such specific date and (ii) that no Default or Event
of Default has occurred and is continuing. Notwithstanding anything contained
in this Agreement to the contrary, no Lender shall have any obligation whatsoever
to increase the amount of its Revolving Credit Commitment (or, in the case of a
Term Loan Lender, to provide a Revolving Credit Commitment pursuant to this
subsection 2.1(b)), and each Lender may at its option, unconditionally and
without cause, decline to increase its Revolving Credit Commitment (or, in the
case of a Term Loan Lender, to provide a Revolving Credit Commitment).

 

(ii)  If any
Lender is willing, in its sole and absolute discretion, to increase the amount
of its Revolving Credit Commitment hereunder or, in the case of existing Term
Loan Lenders, to provide a Revolving Credit Commitment hereunder (such new or
increased Revolving Credit Commitment an “Incremental Commitment”; and
such a Lender hereinafter referred to as an “Increasing Lender”), it
shall enter into a written agreement to that effect with the Company and the
Agent, substantially in the form of Exhibit A (a “Commitment Increase
Supplement”), which agreement shall specify, among other things, the amount
of the Incremental Commitment of such Increasing Lender and the Revolving
Credit Facility or Revolving Credit Facilities to which such increase applies. Upon
the

 

29

 

effectiveness of such Increasing Lender’s Incremental Commitment, Schedule I
shall, without further action, be deemed to have been amended appropriately to
reflect the Incremental Commitment of such Increasing Lender. Any Other Lender
which is willing to become a party hereto and a Revolving Credit Lender
hereunder (and which arrangement to become a party hereto and a Revolving
Credit Lender hereunder has been approved by the Company and the Agent) shall
enter into a written agreement with the Company and the Agent, substantially in
the form of Exhibit B (an “Additional Lender Supplement”), which
agreement shall specify, among other things, its Revolving Credit Commitment
hereunder and the Revolving Credit Facility or Revolving Credit Facilities to
which such Revolving Credit Commitment applies. When such Other Lender becomes
a Revolving Credit Lender hereunder as set forth in the Additional Lender
Supplement, Schedule I shall, without further action, be deemed to have been
amended as appropriate to reflect the Revolving Credit Commitment of such Other
Lender. Upon the execution by the Agent, the Company and such Other Lender of
such Additional Lender Supplement, such Other Lender shall become and be deemed
a party hereto and a “Lender” hereunder for all purposes hereof and shall enjoy
all rights and assume all obligations on the part of the Lenders set forth in
this Agreement, and its Revolving Credit Commitment shall be the amount, and
shall relate to the Revolving Credit Facility or Revolving Credit Facilities,
specified in its Additional Lender Supplement. Each Other Lender which executes
and delivers an Additional Lender Supplement and becomes a party hereto and a “Lender”
hereunder pursuant to such Additional Lender Supplement is hereinafter referred
to as an “Additional Lender.”

 

(iii)  In no event
shall an existing Lender’s Incremental Commitment or the Revolving Credit
Commitment of an Other Lender become effective until the Agent shall have
received a favorable written opinion of counsel for the Company, addressed to
the Lenders, in form and substance reasonably satisfactory to the Agent and any
Increasing Lenders and Additional Lenders with respect to such Incremental
Commitments. In no event shall an Incremental Commitment or the Revolving
Credit Commitment of an Other Lender which results in the aggregate Revolving Credit
Commitments of all Revolving Credit Lenders hereunder exceeding the amount
which is authorized at such time in resolutions previously delivered to the
Agent become effective until the Agent shall have received a copy of the
resolutions, in form and substance satisfactory to the Agent, of the Board of
Directors of the Company authorizing the borrowings contemplated pursuant to
such increase, certified by the Secretary or an Assistant Secretary of the
Company. Upon the effectiveness of an Incremental Commitment or the Revolving
Credit Commitment of an Other Lender pursuant to the preceding sentence and
execution by an Increasing Lender of a Commitment Increase Supplement or by an
Additional Lender of an Additional Lender Supplement, the Company shall make
such borrowing from such Increasing Lender or Additional Lender, and/or shall
make such prepayment of outstanding Revolving Credit Loans, as shall be
required to cause the aggregate outstanding principal amount of Revolving
Credit Loans each under affected Revolving Credit Facility owing to each
Revolving Credit Lender thereunder (including each such Increasing Lender and
Additional Lender) to be proportional to such Lender’s share of the aggregate
Revolving Credit Commitments in respect of such Revolving Credit Facility after
giving effect to any increase thereof. The Company agrees to indemnify each
Lender and to hold each Lender harmless from any loss or expense incurred as a
result of any such prepayment in accordance with subsection 2.22, as applicable.

 

(iv)  No Other
Lender may become an Additional Lender unless an Additional Lender Supplement
(or counterparts thereof) has been signed by such bank or financial institution
and which Additional Lender Supplement has been agreed to and acknowledged by the
Company and acknowledged by the Agent. No consent of any Lender or
acknowledgment of any of the other Lenders hereunder shall be required therefor.
In no event shall the Commitment of any Lender be increased by reason of any
bank or financial institution becoming an Additional Lender, or otherwise, but
the aggregate Revolving Credit Commitments hereunder shall be increased by the
amount of each Additional Lender’s Revolving Credit Commitment. Upon any Lender
entering into a Commitment Increase

 

30

 

Supplement or any Additional Lender becoming a party hereto, the Agent
shall notify each Lender thereof and shall deliver to each such Revolving
Credit Lender that has a commitment under the relevant Revolving Credit
Facility or Revolving Credit Facilities a copy of the Additional Lender
Supplement executed by such Additional Lender, agreed to and acknowledged by
the Company and acknowledged by the Agent, and the Commitment Increase
Supplement executed by such Increasing Lender, agreed to and acknowledged by
the Company and acknowledged by the Agent.

 

(c)  Letters of
Credit. Each Issuing Bank agrees, on the terms and conditions hereinafter
set forth, in reliance upon the agreements of the other Lenders set forth in
this Agreement, to issue letters of credit (each, a “Letter of Credit”)
for the account of any Borrower and its specified Subsidiaries from time to
time on any Business Day during the period from the Closing Date until 30 days
before the Termination Date in an aggregate Available Letter of Credit Amount
(i) for all Letters of Credit issued by each Issuing Bank not to exceed at any
time the lesser of (x) the Letter of Credit Facility at such time and (y) such
Issuing Bank’s Letter of Credit Commitment at such time and (ii) for each such
Letter of Credit not to exceed an amount equal to the aggregate Available
Revolving Credit Commitments in respect of the Irish Revolving Credit Facility
at such time. No Letter of Credit shall have an expiration date (including all
rights of the applicable Borrower or the beneficiary to require renewal) later
than 10 Business Days before the Termination Date. Within the limits referred
to above, the Borrowers may from time to time request the Issuance of Letters
of Credit under this subsection 2.1(c).

 

2.2.  Term
Commitments. Subject
to the terms and conditions hereof:

 

(a)  Each
US Term Loan Lender severally agrees to make a term loan (a “US Term Loan”)
to the US Term Borrower on the Closing Date in an aggregate amount not to exceed
the amount of the US Term Commitment of such Lender then in effect. The US Term
Borrowing shall consist of US Term Loans made simultaneously by the US Term
Loan Lenders ratably according to their US Term Commitments. Amounts borrowed
under this subsection 2.2(a) and repaid or prepaid may not be reborrowed. The
US Term Loans shall be made in Dollars and may
from time to time be (i) Eurocurrency Loans or (ii) Base Rate
Loans, in each case as determined by the Company and notified to the Agent in
accordance with subsection 2.11.

 

(b)  Each Irish
Term Loan Lender severally agrees to make a term loan (an “Irish Term Loan”)
to the Irish Term Borrower on the Closing Date in an aggregate amount not to
exceed the amount of the Irish Term Commitment of such Lender then in effect. The
Irish Term Borrowing shall consist of Irish Term Loans made simultaneously by
the Irish Term Loan Lenders ratably according to their Irish Term Commitments. Amounts
borrowed under this subsection 2.2(b) and repaid or prepaid may not be
reborrowed. The Irish Term Loans shall be made in Pounds Sterling as
Eurocurrency Loans.

 

(c)  Each Japanese
Term Loan Lender severally agrees to make a term loan (a “Japanese Term Loan”)
to the Japanese Term Borrower on the Business Day (in Tokyo) following the
Closing Date in an aggregate amount not to exceed the amount of the Japanese
Term Commitment of such Lender then in effect. The Japanese Term Borrowing
shall consist of Japanese Term Loans made simultaneously by the Japanese Term
Loan Lenders ratably according to their Japanese Term Commitments. Amounts
borrowed under this subsection 2.2(c) and repaid or prepaid may not be
reborrowed. The Japanese Term Loans shall be made in Yen as Eurocurrency Loans.

 

2.3.  Issuance
of and Drawings and Reimbursement Under Letters of Credit. (a)    Request for Issuance. (i) Each Letter
of Credit shall be issued upon notice, given not later than 11:00 A.M. (New
York City Time) on the fifth Business Day prior to the date of the proposed
Issuance of such Letter of Credit (or on such shorter notice as the applicable
Issuing Bank may agree), by any Borrower to any Issuing Bank, with a copy to
the Agent, and such Issuing Bank shall give the Agent prompt notice

 

31

 

thereof. Each such notice by a
Borrower of Issuance of a Letter of Credit (a “Notice of Issuance”)
shall be by telecopier, confirmed immediately in writing, specifying therein
the requested (A) date of such Issuance (which shall be a Business Day), (B)
Available Letter of Credit Amount of such Letter of Credit, (C) expiration date
of such Letter of Credit, (D) name and address of the beneficiary of such
Letter of Credit, (E) currency in which such Letter of Credit will be
denominated (which may be Dollars, any Available Foreign Currency or any other
foreign currency (to the extent the applicable Issuing Bank is legally, and
without additional unreimbursed expense, able to provide a Letter of Credit
denominated in such other foreign currency)) and (F) form of such Letter of
Credit. Such Letter of Credit shall be issued pursuant to such application and
agreement for letter of credit as such Issuing Bank and the applicable Borrower
shall agree for use in connection with such requested Letter of Credit (a “Letter
of Credit Agreement”). If the requested form of such Letter of Credit is
acceptable to such Issuing Bank in its reasonable discretion (it being
understood that any such form shall have only explicit documentary conditions
to draw and shall not include discretionary conditions), unless such Issuing
Bank has received written notice from any Lender or the Agent, at least one
Business Day prior to the requested date of issuance or amendment for the
applicable Letter of Credit, that one or more of the applicable conditions set
forth in subsection 4.2 shall not then be satisfied, such Issuing Bank will,
upon satisfaction of the applicable conditions set forth in subsection 4.2,
make such Letter of Credit available to the applicable Borrower at its office
referred to in subsection 10.2 or as otherwise agreed with such Borrower in
connection with such Issuance in accordance with such Issuing Bank’s usual and
customary business practices. In the event and to the extent that the
provisions of any Letter of Credit Agreement shall conflict with this
Agreement, the provisions of this Agreement shall govern.

 

(b)  By the
Issuance of a Letter of Credit (or an amendment to a Letter of Credit
increasing or decreasing the amount thereof) and without any further action on
the part of the applicable Issuing Bank or the Lenders, such Issuing Bank
hereby grants to each Irish Revolving Credit Lender, and each Irish Revolving
Credit Lender hereby acquires from such Issuing Bank, a participation in such
Letter of Credit equal to such Lender’s Irish Revolving Credit Commitment
Percentage of the Available Letter of Credit Amount of such Letter of Credit. Each
Borrower hereby agrees to each such participation. In consideration and in
furtherance of the foregoing, each Irish Revolving Credit Lender hereby
absolutely and unconditionally agrees to pay to the Agent, for the account of
such Issuing Bank, such Lender’s Irish Revolving Credit Commitment Percentage
of each drawing made under a Letter of Credit funded by such Issuing Bank and
not reimbursed by the applicable Borrower in accordance with the second
sentence of paragraph (c) below (which amount if not so reimbursed will be
deemed to be a Irish Revolving Credit Borrowing to such Borrower as
contemplated in such sentence), or of any reimbursement payment required to be
refunded to such Borrower for any reason, which amount will be advanced
regardless of the satisfaction of the conditions set forth in subsection 4.2. Each
Irish Revolving Credit Lender acknowledges and agrees that its obligation to
acquire participations pursuant to this paragraph in respect of Letters of
Credit is absolute and unconditional and shall not be affected by any
circumstance whatsoever, including any amendment, renewal or extension of any
Letter of Credit or the occurrence and continuance of a Default or reduction or
termination of the Irish Revolving Credit Commitments, and that each such
payment shall be made without any offset, abatement, withholding or reduction
whatsoever. Each Irish Revolving Credit Lender further acknowledges and agrees
that its participation in each Letter of Credit will be automatically adjusted
to reflect such Lender’s Irish Revolving Credit Commitment Percentage of the
Available Letter of Credit Amount of such Letter of Credit at each time such Lender’s
Irish Revolving Credit Commitment is amended pursuant to an increase in
accordance with subsection 2.1(b), an assignment in accordance with subsection
10.7 or otherwise pursuant to this Agreement.

 

(c)  Upon receipt
from the beneficiary of any Letter of Credit of any notice of a drawing under a
Letter of Credit issued by an Issuing Bank, such Issuing Bank will notify the
applicable Borrower and the Agent thereof. The payment by an Issuing Bank of a
draft drawn under any Letter of Credit which is not reimbursed by the
applicable Borrower either (x) on the date made in the event that such

 

32

 

notice to the applicable Borrower shall have
been given by 12:00 Noon (New York City time) on such date or (y) otherwise, by
10:00 A.M. (New York City time) on the following day, shall constitute for all
purposes of this Agreement the making by any such Issuing Bank of a Irish
Revolving Credit Borrowing, which shall be an Base Rate Loan, in the amount of
such draft, without regard to whether the making of such a Borrowing would
exceed such Issuing Bank’s Available Revolving Credit Commitment in respect of
the Irish Revolving Credit Facility. Upon written demand by such Issuing Bank,
with a copy of such demand to the Agent and the applicable Borrower, each Irish
Revolving Credit Lender shall pay to the Agent such Lender’s Irish Revolving
Credit Commitment Percentage of such outstanding Irish Revolving Credit
Borrowing pursuant to subsection 2.3(b). Each Irish Revolving Credit Lender
acknowledges and agrees that its obligation to make Irish Revolving Credit
Borrowings pursuant to this paragraph in respect of Letters of Credit is
absolute and unconditional and shall not be affected by any circumstance
whatsoever, including any amendment, renewal or extension of any Letter of
Credit or the occurrence and continuance of a Default or reduction or
termination of the Irish Revolving Credit Commitments, and that each such
payment shall be made without any offset, abatement, withholding or reduction
whatsoever. Promptly after receipt thereof, the Agent shall transfer such funds
to such Issuing Bank. Each Irish Revolving Credit Lender agrees to fund its
Irish Revolving Credit Commitment Percentage of an outstanding Irish Revolving Credit
Borrowing on (i) the Business Day on which demand therefor is made, provided
that notice of such demand is given not later than 11:00 A.M. (New York City
time) on such Business Day, or (ii) the first Business Day next succeeding such
demand if notice of such demand is given after such time. If and to the extent
that any Irish Revolving Credit Lender shall not have so made the amount of
such Irish Revolving Credit Borrowing available to the Agent, such Lender
agrees to pay to the Agent forthwith on demand such amount together with
interest thereon, for each day from the date of demand until the date such
amount is paid to the Agent, at the Federal Funds Rate for its account or the
account of such Issuing Bank, as applicable. To the extent that the Irish
Revolving Credit Lenders pay to the Agent such amount for the account of any
such Issuing Bank on any Business Day, the respective amounts so paid by them
in respect of principal shall constitute a Irish Revolving Credit Borrowing
made by such Lender on such Business Day for purposes of this Agreement, and
the outstanding principal amount of the associated Irish Revolving Credit
Borrowing made by such Issuing Bank pursuant to the second sentence of this
paragraph shall be reduced by such amount on such Business Day.

 

(d)  Each Issuing
Bank shall furnish (A) to the Agent and each Lender (with a copy to the
Company) on the first Business Day of each month a written report summarizing
Issuance and expiration dates of Letters of Credit issued by such Issuing Bank
during the preceding month and drawings during such month under all Letters of
Credit and (B) to the Agent and each Lender (with a copy to the Company) on the
first Business Day of each calendar quarter a written report setting forth the
average daily aggregate Available Letter of Credit Amount during the preceding
calendar quarter of all Letters of Credit issued by such Issuing Bank.

 

(e)  The failure
of any Lender to make the Irish Revolving Credit Borrowing to be made by it on
the date specified in subsection 2.4 shall not relieve any other Irish
Revolving Credit Lender of its obligation hereunder to make its Irish Revolving
Credit Borrowing on such date, but no Lender shall be responsible for the
failure of any other Lender to make the Irish Revolving Credit Borrowing to be
made by such other Lender on such date.

 

(f)  For the
avoidance of doubt, no Issuing Bank shall be under any obligation to issue any
Letter of Credit either (i) at the request of, or for the account of, any
Borrower or any Subsidiary of a Borrower, in each case incorporated in Ireland,
or (ii) to any Person resident in Ireland, in each case to the extent that such
Issuing Bank is not duly authorized to carry on the business of issuing
contracts of suretyship in Ireland (or otherwise exempted under the laws of
Ireland from the requirement to have any such authorization) or to the extent
that the issuance by such Issuing Bank would otherwise contravene any law of
Ireland or any other applicable jurisdiction.

 

33

 

2.4.  Procedure
for Revolving Credit Borrowing and Term Borrowing. (i) Each Revolving Credit Borrower may
borrow Revolving Credit Loans under the Revolving Credit Commitments on any
Business Day during the Commitment Period and (ii) each Term Loan Borrower may
borrow Term Loans under the Term Commitments on the Closing Date (except the
Japanese Term Borrowing which shall occur on the Business Day (in Tokyo)
following the Closing Date), in each case upon irrevocable notice to the Agent
(and, in the case of a Borrowing consisting of Eurocurrency Loans, Canadian
Prime Rate Loans or Bankers’ Acceptances, simultaneously to the applicable
Sub-Agent and further, in the case of any Japanese Revolving Credit Borrowing,
simultaneously with a copy to the Yen Swing Line Lender), given not later than
(x) 12:00 Noon (New York City time) on the third  Business
Day prior to the date of the proposed Borrowing in the case of a Borrowing
consisting of Eurocurrency Loans denominated in Dollars, (y) 12:00 Noon
(New York City time) on the fourth Business Day prior to the date of the
proposed Borrowing in the case of a Borrowing consisting of Eurocurrency Rate
Loans denominated in Euros, Pounds Sterling or Yen, or Borrowings consisting of
Banker’s Acceptances (other than (x) a Borrowing by way of Bankers’ Acceptances
covered by a Notice of Rollover/Conversion delivered in accordance with
subsection 2.5(b)(ix) or (y) the Japanese Term Borrowing on the Closing Date,
which shall be delivered by 12:00 Noon (New York city time) on the third
Business Day prior to such date), or (z) 10:00 A.M. (New York City time)
on the date of the proposed Borrowing in the case of a Borrowing consisting of
Base Rate Loans or Canadian Prime Rate Loans, specifying, in each case, (A) the
applicable Borrower, (B) the applicable Facility, (C) the amount to be
borrowed, (C) the requested borrowing date, (D) the Type of Loans and (E) if
the borrowing is to be entirely or partly of Eurocurrency Loans, the Currency
thereof, the respective amounts of each such Type of Loan and the respective
lengths of the initial Interest Periods therefor. Each Revolving Credit
Borrowing under the Revolving Credit Commitments shall be in an amount equal to
the Applicable Borrowing Minimum or an Applicable Borrowing Multiple in excess
thereof. Upon receipt of any such notice from the applicable Borrower, the
Agent (or applicable Sub-Agent) shall promptly notify each Revolving Credit
Lender or Term Loan Lender, as applicable, under the applicable Facility. Each applicable
Lender will make the amount of its pro rata share of each Borrowing available
to the Agent (or applicable Sub-Agent) for the account of the applicable
Borrower at the Funding Office, and at or prior to the Funding Time, for the
Currency of such Loan in funds immediately available to the Agent (or
applicable Sub-Agent). Such Borrowing will then immediately be made available
to the applicable Borrower by the Agent (or applicable Sub-Agent) crediting the
account of the applicable Borrower on the books of such Funding Office with the
aggregate of the amounts made available to the Agent (or applicable Sub-Agent)
by the Lenders and in like funds as received by the Agent (or applicable
Sub-Agent). Notwithstanding anything to the contrary
contained in the foregoing, Bankers’ Acceptances shall be issued under the
Canadian Revolving Credit Facility in accordance with subsection 2.5 below. Further,
notwithstanding anything to the contrary contained in this subsection 2.4, for
purposes of determining the amount of the Irish Term Borrowing and the Japanese
Term Borrowing, respectively, (x) the Equivalent in Pounds Sterling of the
Irish Term Commitment and (y) the Equivalent in Yen of the Japanese Term
Commitment shall, in each case, be determined on the date on which the
applicable Borrower submits a notice of borrowing in respect of such Facility.

 

2.5.  Bankers’
Acceptances.

 

(a)  Pursuant to
any request for a Borrowing under the Canadian Revolving Credit Facility, any
Canadian Revolving Credit Borrower may request that such Borrowing be made by
way of Bankers’ Acceptances, in which case such Canadian Revolving Credit
Borrower may issue Bankers’ Acceptances denominated in Canadian Dollars, for
purchase by the Canadian Revolving Credit Lenders hereunder, in each case in
accordance with the provisions of this subsection 2.5 and in respect of any
such request for a Borrowing, provided that: 
(i) the principal amount of Borrowing made by way of Bankers’
Acceptances shall be deemed to be the Face Amount of the drafts to be issued
and accepted; and (ii) all other conditions to Borrowing set forth in
subsection 2.1(a)(ii) and subsection 4.2 shall be complied with as conditions
to any Borrowing by way of Bankers’ Acceptances.

 

34

 

(b)  (i)    The applicable Canadian Revolving Credit
Borrower shall notify the applicable Sub-Agent (the “Canadian Sub-Agent”)
of any Borrowing by way of Bankers’ Acceptances in accordance with
subsection 2.4.

 

(ii)  To
facilitate availment of the Canadian Revolving Credit Borrowings by way of
Bankers’ Acceptances, each Canadian Revolving Credit Borrower hereby appoints
each Canadian Revolving Credit Lender as its attorney to sign and endorse on
its behalf (for the purpose of acceptance and purchase of Bankers’ Acceptances
pursuant to this Agreement), in handwriting or by facsimile or mechanical
signature as and when deemed necessary by such Lender, blank forms of Bankers’
Acceptances. In this respect, it is each Canadian Revolving Credit Lender’s responsibility
to maintain an adequate supply of blank forms of Bankers’ Acceptances for
acceptance under this Agreement. Each Canadian Revolving Credit Borrower
recognizes and agrees that all Bankers’ Acceptances signed and/or endorsed on
its behalf by a Canadian Revolving Credit Lender shall bind such Borrower as
fully and effectually as if signed in the handwriting of and duly issued by the
proper signing officers of such Borrower. Each Canadian Revolving Credit Lender
is hereby authorized (for the purpose of acceptance and purchase of Bankers’
Acceptances pursuant to this Agreement) to issue such Bankers’ Acceptances
endorsed in blank in such Face Amounts as may be determined by such Lender; provided
that the aggregate amount thereof is equal to the aggregate amount of Bankers’
Acceptances required to be accepted and purchased by such Lender. No Canadian
Revolving Credit Lender shall be liable for any damage, loss or other claim
arising by reason of any loss or improper use of any such instrument except
where arising from the gross negligence or willful misconduct of such Lender or
its officers, employees, agents or representatives. On request by any Canadian
Revolving Credit Borrower, a Canadian Revolving Credit Lender shall cancel all
forms of Bankers’ Acceptances which have been pre-signed or pre-endorsed by or
on behalf of such Borrower and which are held by such Lender and have not yet
been issued in accordance herewith. Each Canadian Revolving Credit Lender
further agrees to retain such records in the manner and/or for the statutory
periods provided in the various Canadian provincial or federal statutes and
regulations which apply to such Lender. Each Canadian Revolving Credit Lender
shall maintain a record with respect to Bankers’ Acceptances held by it in
blank hereunder, voided by it for any reason, accepted and purchased by it
hereunder, and cancelled at their respective maturities. Each Canadian
Revolving Credit Lender agrees to provide such records to the applicable
Canadian Revolving Credit Borrower at such Borrower’s expense upon request.

 

(iii)  Bankers’
Acceptances shall be signed by a duly authorized officer or officers of the
applicable Canadian Revolving Credit Borrower or by its attorneys, including
its attorneys appointed pursuant to subsection 2.5(b)(ii) above. Notwithstanding
that any person whose signature appears on any Bankers’ Acceptance as a
signatory for such Borrower may no longer be an authorized signatory for such
Borrower at the date of issuance of a Bankers’ Acceptance, such signature shall
nevertheless be valid and sufficient for all purposes as if such authority had
remained in force at the time of such issuance, and any such Bankers’
Acceptance so signed shall be binding on such Borrower.

 

(iv)  Promptly
following receipt of a notice of Canadian Revolving Credit Borrowing or Notice
of Rollover/Conversion in respect of Bankers’ Acceptances, the Canadian
Sub-Agent shall advise each Canadian Revolving Credit Lender of the aggregate
Face Amount of Bankers’ Acceptances to be accepted by it, the terms thereof,
and the BA Discount Proceeds in respect thereof. The aggregate Face Amount of
Bankers’ Acceptances to be accepted by a Canadian Revolving Credit Lender in
respect of any Canadian Revolving Credit Borrowing by way of Bankers’ Acceptances
shall be equal to such Lender’s Canadian Revolving Credit Commitment Percentage
of the aggregate Face Amount of all Bankers’ Acceptances to be accepted
pursuant to

 

35

 

such Borrowing, except that
if the Face Amount of a Bankers’ Acceptance which would otherwise be accepted
by a Canadian Revolving Credit Lender would not be Canadian Dollars $100,000 or
a larger multiple thereof, such Face Amount shall be increased or reduced by
the Canadian Sub-Agent in its discretion to the nearest multiple of Canadian
Dollars $100,000.

 

(v)  Each
Bankers’ Acceptance to be accepted by a Canadian Revolving Credit Lender shall
be accepted at its applicable Funding Office in Canada.

 

(vi)  On
the date of each issuance of Bankers’ Acceptances in accordance with this
subsection 2.5, each Canadian Revolving Credit Lender shall accept and purchase
from the applicable Canadian Revolving Credit Borrower each Bankers’ Acceptance
to be accepted by it in connection with the Canadian Revolving Credit Borrowing
for a purchase price equal to the applicable BA Discount Proceeds determined on
the basis of the BA Discount Rate, and (except to the extent such BA Discount
Proceeds are being applied to repay maturing Bankers’ Acceptances in accordance
with subsection 2.5(b)(ix)) shall remit to the Canadian Sub-Agent in accordance
with subsection 2.4 the BA Discount Proceeds so determined less the Acceptance
Fee payable by such Borrower to such Lender under subsection 2.5(d) in respect
of such Bankers’ Acceptances.

 

(vii)  Each
Canadian Revolving Credit Lender may at any time and from time to time hold,
sell, rediscount or otherwise dispose of any or all Bankers’ Acceptances
accepted and purchased by it (it being understood that no holder thereof shall
have any rights or obligations hereunder or under any of the other Loan
Documents unless any such holder is a Lender).

 

(viii)  Each
Canadian Revolving Credit Borrower waives presentment for payment and any other
defense to payment of any amounts then due to a Canadian Revolving Credit
Lender in respect of a Bankers’ Acceptance accepted and purchased by it
pursuant to this Agreement which might exist solely by reason of such Bankers’
Acceptance being held, at the maturity thereof, by such Lender in its own
right, and each Canadian Revolving Credit Borrower agrees not to claim any days
of grace if such Lender as holder sues such Borrower on the Bankers’
Acceptances for payment of the amount payable by such Borrower thereunder.

 

(ix)  At
or before 9:30 A.M. (Toronto time) two Business Days before the BA Maturity
Date of any Bankers’ Acceptances, the applicable Canadian Revolving Credit
Borrower shall give to the Sub-Agent notice (a “Notice of
Rollover/Conversion”) specifying either that such Borrower intends to repay
the maturing Bankers’ Acceptances on the applicable BA Maturity Date or that
such Borrower intends to issue new Bankers’ Acceptances on the applicable BA
Maturity Date to provide for the payment of the maturing Bankers’ Acceptances. If
the applicable Canadian Revolving Credit Borrower fails to provide any such
notice to the Canadian Sub-Agent or fails to repay the maturing Bankers’
Acceptances on the applicable BA Maturity Date, such failure shall be deemed a
Notice of Rollover/Conversion for the issuance of new Bankers’ Acceptances to
provide for the payment of such maturing Bankers’ Acceptances and such new
Bankers’ Acceptances shall have a BA Maturity Date that is thirty days after
the date of issuance thereof. Notwithstanding the foregoing, if an Event of
Default has occurred and is continuing on the applicable BA Maturity Date of
such maturing Bankers’ Acceptances, each Canadian Revolving Credit Borrower’s
obligations in respect of maturing Bankers’ Acceptances shall be deemed to have
been converted on the BA Maturity Date thereof into a Canadian Prime Rate Loan
in a principal amount equal to the full Face Amount of the maturing Bankers’
Acceptances. On the BA Maturity Date of any Bankers’ Acceptance being repaid by
means of the issuance of new Bankers’ Acceptances pursuant to this clause (ix)
the applicable Canadian Revolving Credit Borrower shall pay to the Sub-Agent
for the account of the applicable Canadian

 

36

 

Revolving Credit Lender an amount
equal to the sum of (A) the Acceptance Fee payable in respect of such newly
issued Bankers’ Acceptance and (B) the excess of the Face Amount of such
maturing Bankers’ Acceptance over the BA Discount Proceeds in respect of such
newly issued Bankers’ Acceptance.

 

(c)  Each Bankers’
Acceptance shall mature, and the Face Amount thereof shall be due and payable,
on the BA Maturity Date specified in such Bankers’ Acceptance. Any overdue
amount of any Bankers’ Acceptance shall bear interest, payable on demand, at
the rate set forth in subsection 2.14(i). Any payment of a maturing Bankers’
Acceptance shall, subject to subsection 2.5(b)(ix), be made as provided in
subsection 2.13(c) (notwithstanding that any Lender or any other Person may be
the holder thereof at maturity) and any such payment shall satisfy the
applicable Canadian Revolving Credit Borrower’s obligations under the maturing
Bankers’ Acceptance to which it relates, and the Lender accepting and
purchasing the applicable Bankers’ Acceptance shall thereafter be solely
responsible for the payment of such Bankers’ Acceptance.

 

(d)  A fee (an “Acceptance
Fee”) shall be payable by the applicable Canadian Revolving Credit Borrower
to each Canadian Revolving Credit Lender in advance (in the manner specified under
this Agreement) upon the issuance of a Bankers’ Acceptance to be accepted by
such Lender, or upon the purchase of an Acceptance Note by such Lender,
calculated at the rate per annum equal to the Applicable Margin then in effect
for Eurocurrency Rate Loans, such rate per annum to be calculated on the Face
Amount of such Bankers’ Acceptance or Acceptance Note, as the case may be, and
to be computed on the basis of the number of days in the term of such Bankers’
Acceptance or Acceptance Note, as the case may be.

 

(e)  Bankers’
Acceptances may not be prepaid. Any Canadian Revolving Credit Borrower may,
however, at its option, exercisable upon not less than two Business Day’s
notice to the Canadian Sub-Agent, elect to deposit with the Canadian Sub-Agent
Canadian Dollars in same-day funds to be held by the Sub-Agent, pursuant to
collateral arrangements reasonably satisfactory to the Canadian Sub-Agent and
such Canadian Revolving Credit Borrower, for application to the payment of any
Borrowing of Bankers’ Acceptances designated by such Borrower in such notice. If
such a deposit is made, then such Bankers’ Acceptances shall be deemed no
longer outstanding for purposes of this Agreement; provided that the
amount of such deposit shall be not less than the full Face Amount of such
Borrowing of Bankers’ Acceptances. Furthermore, in the event the maturity of
the Loans is accelerated pursuant to Section 7, each applicable Canadian
Revolving Credit Borrower shall cash collateralize all outstanding Bankers’
Acceptances issued by such Borrower.

 

(f)  (i)    It is understood that from time to time
certain Schedule II Banks and Schedule III Banks may not be authorized to or
may, as a matter of general corporate policy, elect not to accept Bankers’
Acceptances (each, an “Acceptance Note Lender”); accordingly, any
Acceptance Note Lender may instead purchase Acceptance Notes of a Canadian
Revolving Credit Borrower in accordance with the provisions of subsection
2.5(f)(ii) in lieu of accepting and purchasing Bankers’ Acceptances for its
account.

 

(ii)  In
connection with any request by a Canadian Revolving Credit Borrower for the
creation of Bankers’ Acceptances, such Borrower shall deliver to each
Acceptance Note Lender non-interest bearing promissory notes (each, an “Acceptance
Note”) of such Borrower having the same maturity as the Bankers’
Acceptances to be created and in an aggregate principal amount equal to the
Face Amount of the Bankers’ Acceptances that would otherwise have been required
to be accepted by such Acceptance Note Lender as a part of such Borrowing. Each
Acceptance Note Lender hereby agrees to purchase Acceptance Notes from each
Canadian Revolving Credit Borrower at a price equal to the BA Discount Proceeds
determined by reference to the BA 

 

37

 

Discount Rate which would
have been applicable if a Bankers’ Acceptance had been accepted by it, and such
Acceptance Notes shall be governed by the provisions of this subsection 2.5 as
if they were Bankers’ Acceptances. The provisions of this subsection 2.5 shall
apply, with all necessary changes, to Acceptance Notes issued under this
subsection 2.5(f)(ii).

 

(g)  At the option
of any Canadian Revolving Credit Lender, Bankers’ Acceptances under this
Agreement to be accepted and purchased by such Lender may be issued in the form
of depository bills for deposit with The Canadian Depository for Securities
Limited pursuant to the Depository Bills and Notes Act (Canada). All depository
bills so issued shall be governed by the provisions of this subsection 2.5.

 

(h)  If the
Canadian Sub-Agent or the Canadian Revolving Credit Lenders holding more than
50% of the Canadian Revolving Credit Commitments determine in good faith, which
determination shall be final, conclusive and binding upon each Canadian
Revolving Credit Borrower, and the Canadian Sub-Agent notifies such Borrower
that, by reason of circumstances affecting the money market there is no market
for Bankers’ Acceptances or Acceptance Notes or the demand for Bankers’
Acceptances or Acceptance Notes is insufficient to allow the sale or trading of
the Bankers’ Acceptances or Acceptance Notes created hereunder, then:

 

(i)  the
right of any Canadian Revolving Credit Borrower to request the acceptance and
purchase of Bankers’ Acceptances shall be suspended until the Canadian
Sub-Agent or the Canadian Revolving Credit Lenders holding more than 50% of the
Canadian Revolving Credit Commitments determine that the circumstances causing
such suspension no longer exist and the Canadian Sub-Agent so notifies each
Canadian Revolving Credit Borrower; and

 

(ii)  any
Notice of Canadian Revolving Credit Borrowing or Notice of Rollover/Conversion
in respect of Bankers’ Acceptances which are outstanding shall be cancelled and
such notice shall (at the option of the applicable Borrower) be deemed to be a
request for a Borrowing of or conversion to Canadian Prime Rate Loans in
principal amount equal to the BA Discount Proceeds that would have been payable
in respect of the requested Bankers’ Acceptances or Acceptance Notes.

 

(i)  The Canadian
Sub-Agent shall promptly notify each Canadian Revolving Credit Borrower of the
suspension of such Borrower’s right to request acceptance and purchase of
Bankers’ Acceptances or Acceptance Notes and of the termination of any such
suspension.

 

(j)  In the event
of any inconsistency between the provisions of this subsection 2.5 and any
other provision of Section 2 or 3 with respect to Bankers’ Acceptances or
Acceptance Notes, the provisions of this subsection 2.5 shall prevail.

 

2.6.  Swing
Line Commitments.
(a)  Subject to the terms and conditions hereof, each Swing Line
Lender severally agrees to make swing line loans (“Swing Line Loans”) to
any US Revolving Credit Borrower on any Business Day from time to time during the
Commitment Period in an aggregate principal amount at any one time outstanding
for all Swing Line Lenders not to exceed $200,000,000; provided that in
no event may the amount of any Swing Line Borrowing cause the aggregate amount
of US Revolving Credit Loans  and Swing Line
Loans (after giving effect to the use of proceeds of such Swing Line Loans and
any other concurrent Borrowing) to exceed the aggregate US Revolving Credit
Commitments then in effect of all US Revolving Credit Lenders. Amounts borrowed
by the US Revolving Credit Borrowers under this subsection 2.6 may be repaid
and, to but excluding the Termination Date, reborrowed.

 

38

 

(b)  All Swing
Line Loans shall be made in Dollars and shall bear interest as set forth in
Schedule 2.13(a) and, notwithstanding subsection 2.11(a), shall not be entitled
to be converted into Eurocurrency Loans. The applicable US Revolving Credit
Borrower shall give the Agent irrevocable notice (which notice must be received
by the Agent prior to 1:00 P.M., New York City time), on the requested
borrowing date (which shall be a Business Day) specifying the amount of each
requested Swing Line Loan, which shall be in a minimum amount of $5,000,000 or
a multiple of $1,000,000 in excess thereof. Upon receipt of any such notice
from the applicable US Revolving Credit Borrower, the Agent shall promptly
notify each Swing Line Lender thereof. Each Swing Line Lender will make the
amount of its equal share of each Swing Line Loan available to the Agent for
the account of the applicable US Revolving Credit Borrower at the office of the
Agent specified in subsection 10.2 prior to 3:00 P.M., New York City time, on
the borrowing date requested by the applicable US Revolving Credit Borrower in
funds immediately available to the Agent. The proceeds of each Swing Line Loan
will then be made immediately available to the applicable US Revolving Credit
Borrower by the Agent crediting the account of the applicable US Revolving
Credit Borrower on the books of such office with the aggregate of the amounts
made available to the Agent by the Swing Line Lenders and in like funds as
received by the Agent.

 

(c)  The Agent, at
any time in its sole and absolute discretion, may (or, upon the request of the
majority of the Swing Line Lenders, shall) on behalf of the applicable US
Revolving Credit Borrower (which hereby irrevocably directs the Agent to act on
its behalf) request each US Revolving Credit Lender (including each Swing Line
Lender) to make a US Revolving Credit Loan in an amount equal to such Lender’s
US Revolving Credit Commitment Percentage of the principal amount of the Swing
Line Loans of all Swing Line Lenders (the “Refunded Swing Line Loans”)
outstanding on the date such notice is given; provided that (i) at any
time as there shall be a Swing Line Loan outstanding for more than seven
Business Days, the Agent shall, on behalf of the applicable US Revolving Credit
Borrower (which hereby irrevocably directs the Agent to act on its behalf),
promptly request each US Revolving Credit Lender (including each Swing Line
Lender) to make a US Revolving Credit Loan in an amount equal to such Lender’s
US Revolving Credit Commitment Percentage of the principal amount of such
outstanding Swing Line Loan and (ii) the Swing Line Loans shall be prepaid
by the applicable US Revolving Credit Borrower in accordance with the
provisions of subsection 2.10(b)(i). Unless any of the events described in
paragraph (f) of Section 7 shall have occurred (in which event the procedures
of paragraph (d) of this subsection 2.6 shall apply) and regardless of whether
the conditions precedent set forth in this Agreement to the making of a US
Revolving Credit Loan are then satisfied, each US Revolving Credit Lender shall
make the proceeds of its US Revolving Credit Loan available to the Agent for
the ratable benefit of the Swing Line Lenders at the office of the Agent
specified in subsection 10.2 prior to 11:00 A.M., New York City time, in funds
immediately available on the Business Day next succeeding the date such notice
is given. The proceeds of such US Revolving Credit Loans shall be immediately
applied to repay the Refunded Swing Line Loans.

 

(d)  If, prior to
the making of a US Revolving Credit Loan pursuant to paragraph (c) of this subsection
2.6, one of the events described in paragraph (f) of Section 7 shall have
occurred, each US Revolving Credit Lender will, on the date such US Revolving
Credit Loan was to have been made, purchase from the Swing Line Lenders an
undivided participating interest in the Refunded Swing Line Loans in an amount
equal to its US Revolving Credit Commitment Percentage of such Refunded Swing
Line Loans. Each US Revolving Credit Lender will immediately transfer to the
Agent, in immediately available funds, the amount of its participation and upon
receipt thereof the Agent will deliver to such Lender a Swing Line Loan
Participation Certificate dated the date of receipt of such funds and in such
amount.

 

(e)  Each US
Revolving Credit Lender’s obligation to make US Revolving Credit Loans and to
purchase participating interests in accordance with paragraphs (c) and (d)
above shall be absolute

 

39

 

and unconditional and shall not be affected by any circumstance, including,
without limitation, (i) any set-off, counterclaim, recoupment, defense or
other right which such Lender may have against any Swing Line Lender, any US
Revolving Credit Borrower or any other Person for any reason whatsoever; (ii)
the occurrence or continuance of any Default or Event of Default; (iii) any
adverse change in the condition (financial or otherwise) of the Company or any
other Person; (iv) any breach of this Agreement by the applicable US Revolving
Credit Borrower or any other Person; (v) any inability of any US Revolving
Credit Borrower to satisfy the conditions precedent to borrowing set forth in
this Agreement on the date upon which such participating interest is to be
purchased or (vi) any other circumstance, happening or event whatsoever,
whether or not similar to any of the foregoing. If any US Revolving Credit
Lender does not make available to the Agent the amount required pursuant to
paragraph (c) or (d) above, as the case may be, the Agent shall be entitled to
recover such amount on demand from such Lender, together with interest thereon
for each day from the date of non-payment until such amount is paid in full at
the Federal Funds Rate for the first two Business Days and at the Base Rate
thereafter. Notwithstanding the foregoing provisions of this subsection 2.6(e),
no US Revolving Credit Lender shall be required to make a US Revolving Credit
Loan to any US Revolving Credit Borrower for the purpose of refunding Swing
Line Loans pursuant to paragraph (c) above or to purchase a participating
interest in Swing Line Loans pursuant to paragraph (d) above if a Default or
Event of Default has occurred and is continuing and prior to the making by the
Swing Line Lenders of such Swing Line Loans, each Swing Line Lender has
received written notice from such Lender specifying that such Default or Event
of Default has occurred and is continuing, describing the nature thereof and
stating that, as a result thereof, such Lender shall cease to make such US
Revolving Credit Loans and purchase such participating interests, as the case
may be; provided that the obligation of such Lender to make such US
Revolving Credit Loans and to purchase such participating interests shall be
reinstated upon the earlier to occur of (i) the date upon which such Lender
notifies the Swing Line Lenders that its prior notice has been withdrawn and
(ii) the date upon which the Default or Event of Default specified in such
notice no longer is continuing.

 

2.7.  Yen
Swing Line Commitments. (a)  Subject to the terms and conditions hereof, the Yen
Swing Line Lender agrees to make Yen swing line loans (“Yen Swing Line Loans”;
it being understood that such Yen Swing Line Loans may also be made as Yen
overdraft swing line loans to the extent provided in subsection (b) below, such
overdraft swing line loans (whether or not constituting Yen Swing Line Loans
hereunder) being “Yen Overdraft Swing Line Loans”) to any Japanese
Borrower domiciled in Japan on any Business Day from time to time during the
Commitment Period in an aggregate principal amount at any one time outstanding
not to exceed the maximum amount of the Yen Swing Line Facility then in effect;
provided that in no event may the amount of any Yen Swing Line Loan
cause the aggregate amount of Japanese Revolving Credit Loans  and Yen Swing Line Loans (after giving effect to the use of
proceeds of such Yen Swing Line Loans and any other concurrent Borrowing) to
exceed the aggregate Japanese Revolving Credit Commitments then in effect of
all Japanese Revolving Credit Lenders. The Agent shall provide written notice
to the Yen Swing Line Lender (i) no later than 1:00 P.M. (Tokyo time) of the
day in question of any Borrowing to the extent that such Borrowing will cause
the Japanese Revolving Credit Loans to be in an aggregate amount in excess of
$1,000,000,000 on any day and (ii) no later than 5:00 P.M. (Tokyo time) of the
day in question of any notice of Default or Event of Default on the day the
Agent receives such notice; provided that the Agent shall not have any
liability to the Yen Swing Line Lender in the event that it fails to provide
such notice. Amounts borrowed by any Japanese Borrower under this subsection
2.7 may be repaid and, to but excluding the Termination Date, reborrowed. Each
Yen Overdraft Swing Line Loan shall only be made as follows with respect to the
relevant Japanese Borrower’s Designated Account (as defined below) and the
occurrence of any of the following events shall constitute an automatic request
by the Japanese Borrower in question for a Yen Overdraft Swing Line Loan:  (i) presentation of any checks, drafts or
other items against a Designated Account in excess of the available balance in
such account; (ii) the accrual of any charges against a Designated Account in
excess of the balance in such account; or (iii) electronic or automatic or
other funds transfers from a Designated Account or receipt or creation by the
Yen Swing Line Lender of a

 

40

 

debit entry against a Designated Account, in
each case in excess of the available balance in such account. In each case, the
amount of the Yen Overdraft Swing Line Loan requested shall be equal to the
amount by which the respective item, charge, debit or transfer drawn against or
chargeable to the Designated Account exceeds the available balance in such
account. Each Yen Overdraft Swing Line Loan shall be made by automatic transfer
of funds directly into the Designated Account in question on the Business Day
on which the request is made. The Yen Swing Line Lender may, in its sole discretion,
consider a request made after its customary “cut-off time” on a Business Day to
have occurred on the next Business Day. Each Japanese Borrower agrees that each
Yen Overdraft Swing Line Loan made to it shall be repaid, together with accrued
interest thereon, within two Business Days of having been incurred and that the
Yen Swing Line Lender may (but shall not be required to) automatically debit
such Japanese Borrower’s Designated Account on any Business Day to repay any
outstanding Yen Overdraft Swing Line Loan, together with any interest thereon,
even if such debit causes another Yen Overdraft Swing Line Loan to be incurred
by such Japanese Borrower. For purposes of calculating the outstanding amount
of any Yen Overdraft Swing Line Loan(s), any Yen Swing Line Loans and/or any
accrued interest thereon, the books and records of the Yen Swing Line Lender
shall be conclusive, absent manifest error. The “Designated Accounts” shall be
as follows:

 

	
  Japanese Borrower

  	
   

  	
  Designated
  Account

  
	
   

  	
   

  	
   

  
	
  GMAC
  Commercial Mortgage Funding Asia, K.K.

  	
   

  	
  Principal
  Termination Account

  
	
   

  	
   

  	
   

  
	
  GMAC
  Commercial Mortgage Japan, K.K.

  	
   

  	
  Principal
  Transaction Account

  

 

each
such Designated Account being a deposit account held by the principal office of
The Bank of Tokyo-Mitsubishi UFJ, Ltd. in Tokyo, provided that any such
Designated Account may be changed or deleted or
additional Designated Accounts may be added if agreed to in writing by the Yen Swing Line Lender and the relevant
Japanese Borrower and upon receipt of written notice of such change by the
Agent and the Sub-Agent.

 

(b)  All Yen Swing
Line Loans shall be made in Yen and shall bear interest as set forth in
subsection 2.14(d) and shall not be entitled to be converted into Eurocurrency
Loans. Other than in the case of any Yen Overdraft Swing Line Loan, the
applicable Japanese Borrower shall give each of the Agent, Sub-Agent and Yen
Swing Line Lender irrevocable notice (which notice must be received by the
Agent, Sub-Agent and the Yen Swing Line Lender prior to 1:00 P.M., Tokyo time), on the requested borrowing date (which
shall be a Business Day) specifying the amount of each requested Yen Swing Line
Loan, which shall be in a minimum amount of ¥100,000,000 or a multiple thereof; provided that the
applicable Sub-Agent shall have no liability with respect to crediting the
proceeds of any Yen Swing Line Loan to the applicable Japanese Borrower’s
account or to monitor the movement of such Yen Swing Line Loans from the Yen
Swing Line Lender. Upon receipt of any such notice from a Japanese Borrower,
the Agent shall notify the Yen Swing Line Lender of its receipt of any such
notice, accompanied, if applicable, by any notice of Default or Event of
Default which the Agent may have received, by 2:00 P.M., Tokyo time, on the
requested borrowing date. In the case of any Yen Overdraft Swing Line Loan, the
Yen Swing Line Lender shall provide notice to the Agent of the amount of such
Yen Overdraft Swing Line Loan by 10:00 A.M., Tokyo time on the immediately
succeeding Business Day. Other than in the case of any Yen Overdraft Swing Line
Loan, the Yen Swing Line Lender will make the amount of each Yen Swing Line
Loan available directly to applicable Japanese Borrower prior to 3:00 P.M., Tokyo time, on the
borrowing date requested by such Japanese Borrower in funds immediately
available to such Japanese Borrower by crediting such Japanese Borrower’s main
transaction account at the principal office of The Bank of Tokyo-Mitsubishi
UFJ, Ltd. in Tokyo. In the case of any Yen Overdraft Swing Line Loan, only such
portion of such Yen Overdraft Swing Line Loan as does not exceed the lesser of
(i) the Yen Swing Line Commitment minus the aggregate amount of Yen
Swing Line Loans (other than such

 

41

 

Yen Overdraft Swing Line Loan) and (ii) the
aggregate Available Revolving Credit Commitments shall be deemed to be Yen
Swing Line Loans.

 

(c)  The Agent, at
any time in its sole and absolute discretion, may (or, upon the request of the
Yen Swing Line Lender, shall) on behalf of the applicable Japanese Borrower
(which hereby irrevocably directs the Agent to act on its behalf) request each
Japanese Revolving Credit Lender (including the Yen Swing Line Lender) to make
a Japanese Revolving Credit Loan in an amount equal to such Lender’s Japanese
Revolving Credit Commitment Percentage of the principal amount of the Yen Swing
Line Loans of the Yen Swing Line Lender (the “Refunded Yen Swing Line Loans”)
outstanding on the date such notice is given; provided that (i) at any
time as there shall be a Yen Swing Line Loan outstanding for more than seven
Business Days (or two Business Days in the case of Yen Overdraft Swing Line
Loans), the Agent shall, on behalf of the applicable Japanese Borrower (which
hereby irrevocably directs the Agent to act on its behalf), promptly request
each Japanese Revolving Credit Lender (including the Yen Swing Line Lender) to
make a Japanese Revolving Credit Loan in an amount equal to such Lender’s
Japanese Revolving Credit Commitment Percentage of the principal amount of such
outstanding Yen Swing Line Loan and (ii) the Yen Swing Line Loans shall be
prepaid by the applicable Japanese Borrower in accordance with the provisions
of subsection 2.10(c). Unless any of the events described in paragraph
(f) of Section 7 shall have occurred (in which event the procedures of
paragraph (d) of this subsection 2.7 shall apply) and regardless of whether the
conditions precedent set forth in this Agreement to the making of a Japanese
Revolving Credit Loan are then satisfied, each Japanese Revolving Credit Lender
shall make the proceeds of its Japanese Revolving Credit Loan available to the
Agent for the ratable benefit of the Yen Swing Line Lender at the office of the
Agent specified in subsection 10.2 prior to 1:00 P.M., Tokyo time, in funds
immediately available on the Business Day next succeeding the date such notice
is given. The proceeds of such Japanese Revolving Credit Loans shall be
immediately applied to repay the Refunded Yen Swing Line Loans.

 

(d)  If, prior to the
making of a Japanese Revolving Credit Loan pursuant to paragraph (c) of this
subsection 2.7, one of the events described in paragraph (f) of Section 7 shall
have occurred, each Japanese Revolving Credit Lender will, on the date such
Japanese Revolving Credit Loan was to have been made, purchase from the Yen
Swing Line Lender an undivided participating interest in the Refunded Yen Swing
Line Loans in an amount equal to its Japanese Revolving Credit Commitment
Percentage of such Refunded Yen Swing Line Loans. Each Japanese Revolving
Credit Lender will immediately transfer to the Agent, in immediately available
funds, the amount of its participation and upon receipt thereof the Agent will
deliver to such Japanese Revolving Credit Lender a Yen Swing Line Loan
Participation Certificate dated the date of receipt of such funds and in such
amount.

 

(e)  Each Japanese
Revolving Credit Lender’s obligation to make Japanese Revolving Credit Loans
and to purchase participating interests in accordance with paragraphs (c) and
(d) above shall be absolute and unconditional and shall not be affected by any
circumstance, including, without limitation, (i) any set-off,
counterclaim, recoupment, defense or other right which such Japanese Revolving
Credit Lender may have against the Yen Swing Line Lender, any Japanese Borrower
or any other Person for any reason whatsoever; (ii) the occurrence or
continuance of any Default or Event of Default; (iii) any adverse change in the
condition (financial or otherwise) of any Japanese Borrower or any other
Person; (iv) any breach of this Agreement by a Japanese Borrower or any other
Person; (v) any inability of a Japanese Borrower to satisfy the conditions
precedent to borrowing set forth in this Agreement on the date upon which such
participating interest is to be purchased or (vi) any other circumstance,
happening or event whatsoever, whether or not similar to any of the foregoing. If
any Japanese Revolving Credit Lender does not make available to the Agent the
amount required pursuant to paragraph (c) or (d) above, as the case may be, the
Agent shall be entitled to recover such amount on demand from such Japanese
Revolving Credit Lender, together with interest thereon for each day from the
date of non-payment until such amount is paid in full at the “uncollateralized
overnight call rate” as

 

42

 

determined by The Bank of Japan for the first
two Business Days and at the Base Rate thereafter. Notwithstanding the
foregoing provisions of this subsection 2.7(e), no Japanese Revolving Credit
Lender shall be required to make a Japanese Revolving Credit Loan to a Japanese
Borrower for the purpose of refunding Yen Swing Line Loans pursuant to
paragraph (c) above or to purchase a participating interest in Yen Swing Line
Loans pursuant to paragraph (d) above if a Default or Event of Default has
occurred and is continuing and prior to the making by the Yen Swing Line Lender
of such Yen Swing Line Loans, the Yen Swing Line Lender has received written
notice from such Japanese Revolving Credit Lender specifying that such Default
or Event of Default has occurred and is continuing, describing the nature
thereof and stating that, as a result thereof, such Japanese Revolving Credit
Lender shall cease to make such Japanese Revolving Credit Loans and purchase
such participating interests, as the case may be; provided that the
obligation of such Japanese Revolving Credit Lender to make such Japanese
Revolving Credit Loans and to purchase such participating interests shall be
reinstated upon the earlier to occur of (i) the date upon which such Japanese
Revolving Credit Lender notifies the Yen Swing Line Lender that its prior
notice has been withdrawn and (ii) the date upon which the Default or Event of
Default specified in such notice no longer is continuing.

 

(f) With regard to any
assignment by the Yen Swing Line Lender of any portion of its interest in Yen
Swing Line Loans and/or its Commitments to make such Loans, the assigning Yen
Swing Line Lender and the relevant assignee may supplement the provisions of
any Assignment and Assumption Agreement by which such assignment is to be made
in order to clarify the post-assignment responsibilities of the assignor and
assignee and the capacities in which they may act with respect to their
Commitments to make Yen Swing Line Loans and otherwise carry out the provisions
of this Agreement relating to Yen Swing Line Loans, so long as such
supplemental provisions do not have an adverse impact on the Agent or any other
Lender (unless the Agent or such other Lender shall have consented to such
supplemental provisions in writing).

 

2.8.  Designated
Borrowers. (a)  The Subsidiaries listed on Schedule 2.8
(effective as of the date hereof), and such other Subsidiaries as may be
reasonably acceptable to the Agent and the Lenders under the applicable
Facility or Facilities (subject to the provisions of this subsection 2.8),
shall be “Designated Borrowers” hereunder and may receive Loans for their
respective accounts on the terms and conditions set forth in this Agreement.

 

(b)  The Company
may at any time, upon not less than 15 Business Days’ notice from the Company
to the Agent (or such shorter period as may be agreed by the Agent in its sole
discretion), designate any additional Subsidiary of the Company (an “Applicant
Borrower”) to receive Loans hereunder by delivering to the Agent (which
shall promptly deliver counterparts thereof to each Lender) a duly executed
notice and agreement in substantially the form of Exhibit C (a “Designated
Borrower Request and Assumption Agreement”). The parties hereto acknowledge
and agree that prior to any Applicant Borrower becoming entitled to utilize the
credit facilities provided for herein the Agent and the Lenders under the
applicable Facility or Facilities shall have received such supporting
resolutions, incumbency certificates, opinions of counsel and other documents
or information (including, without limitation, all such documents or
information required to comply with the Patriot Act), in each case consistent
with the documents and information required to be delivered hereunder with
respect to the Company on the Closing Date (but with such differences as may be
appropriate in light of applicable local law), and Notes signed by such new
Borrowers to the extent any Lenders under the applicable Facility or Facilities
so require. If the Agent and the Lenders under the applicable Facility or
Facilities agree that an Applicant Borrower shall be entitled to receive Loans
hereunder, then promptly following receipt of all such requested resolutions,
incumbency certificates, opinions of counsel and other documents or
information, the Agent shall send a notice in substantially the form of Exhibit
D (a “Designated Borrower Notice”) to the Company and the Lenders under
the applicable Facility or Facilities specifying the effective date upon which
the Applicant Borrower shall constitute a Designated

 

43

 

Borrower for purposes hereof, whereupon each of such Lenders agrees to
permit such Designated Borrower to receive Loans hereunder under the Applicable
Facility or Facilities, on the terms and conditions set forth herein, and each
of the parties agrees that such Designated Borrower otherwise shall be a
Borrower for all purposes of this Agreement.

 

(c)  Each
Subsidiary of the Company that is or becomes a “Designated Borrower” pursuant
to this subsection 2.8 hereby irrevocably appoints the Company as its agent for
all purposes relevant to this Agreement and each of the other Loan Documents,
including (i) the giving and receipt of notices and (ii) the execution and
delivery of all documents, instruments and certificates contemplated herein and
all modifications hereto. Any acknowledgment, consent, direction, certification
or other action which might otherwise be valid or effective if given or taken
only by the Company on behalf of any Designated Borrower shall also be valid
and effective if given or taken by the Designated Borrower whether or not the
Company joins thereto. Any notice, demand, consent, acknowledgment, direction,
certification or other communication delivered to the Company in accordance
with the terms of this Agreement shall be deemed to have been delivered to each
Designated Borrower.

 

(d)  The Company may from time to time, upon not less than 15 Business Days’
notice from the Company to the Agent (or such shorter period as may be agreed
by the Agent in its sole discretion), terminate a Designated Borrower’s status
as such, provided that there are no outstanding Loans or Letters of Credit
payable by such Designated Borrower, or other amounts payable by such
Designated Borrower on account of any Loans made to it, in each case as of the
effective date of such termination; provided  further that, if
such Designated Borrower is also a Guarantor, such termination will not affect
such Designated Borrower’s obligations as a Guarantor under the Guaranty. The
Agent will promptly notify the Lenders of any such termination of Designated
Borrower’s status.

 

2.9.  Termination
or Reduction of Commitments. (a)  Optional. The Company shall have the right,
upon not less than one Business Day’s notice to the Agent (or applicable
Sub-Agent), to terminate the Commitments under any Facility when no Loans or
Letters of Credit are then outstanding under such Facility (after giving effect
to any repayments made at the time such notice is given or such termination is
to take effect) or, from time to time, to reduce the unutilized portion of the
Commitments under any Facility. Any such reduction shall be in an amount equal
to $5,000,000 or a multiple of $1,000,000 in excess thereof and shall reduce
permanently the Commitments then in effect. On the date on which any such
reduction or termination takes place with respect to the Japanese Revolving Credit
Facility or the Yen Swing Line Facility, the Agent shall notify the Yen Swing
Line Lender in writing on such date; provided that the Agent shall have
no liability for any failure to provide such notice.

 

(b)  Mandatory.
The aggregate Term Commitments under each Term Facility shall be automatically
and permanently reduced to zero on the date of the Borrowings in respect of
such Term Facility.

 

2.10.  Prepayments. (a)  Each Borrower may, at any
time and from time to time, prepay the Revolving Credit Loans and the Term
Loans, in whole or in part, without premium or penalty (but subject to the
provisions of subsection 2.22), (i) in the case of Base Rate Loans or Canadian
Prime Rate Loans, upon irrevocable notice to the Agent not later than 11:00
A.M. on the date of such prepayment and (ii) in the case of Eurocurrency Loans,
upon at least two Business Days’ irrevocable notice to the Agent, in each case
specifying the date and amount of prepayment, the Currency of the Loans to be
prepaid, the Facility under which such Loans are outstanding and the Type or
Types of the Loans being prepaid, and, if of a combination of Types, the amount
allocable to each. Upon receipt of any such notice the Agent shall promptly
notify each relevant Lender thereof. If any such notice is given, the amount
specified in such notice shall be due and payable on the date specified
therein, together with any amounts payable pursuant to subsection 2.22 and, in
the case of prepayments of the Term Loans only, accrued interest to

 

44

 

such date on the amount prepaid. Term Loans
shall be prepaid in the currency in which such Loans were borrowed. Amounts
prepaid on account of the Term Loans may not be reborrowed. Partial prepayments
shall be in an aggregate principal amount equal to the Applicable Borrowing
Minimum or an Applicable Borrowing Multiple in excess thereof.

 

(b)  The Company
(i) shall prepay all Swing Line Loans then outstanding simultaneously with any
US Revolving Credit Borrowing and (ii) may prepay (without premium or penalty)
any Swing Line Loans then outstanding upon notice prior to 1:00 P.M. (New York
City time) on the date of such payment.

 

(c)  The Japanese
Borrowers (i) shall prepay all Yen Swing Line Loans then outstanding simultaneously
with each Japanese Revolving Credit Borrowing and (ii) may prepay (without
premium or penalty) any Yen Swing Line Loans then outstanding upon notice (if
required by the Yen Swing Line Lender) prior to 10:00 A.M. (Tokyo time) on the
date of such payment.

 

(d)  If, as a
result of any negative fluctuations in the Equivalent in Dollars of Available
Foreign Currencies (or other foreign currencies in which outstanding Letters of
Credit may be denominated), including, without limitation, with respect to
Letters of Credit, from the date of any Borrowing (as determined on the last
day of each fiscal quarter of the Company), the aggregate amount of outstanding
Loans (plus, in the case of the Irish Revolving Credit Facility, the aggregate
Available Letter of Credit Amount of all Letters of Credit then outstanding)
under any Facility exceeds 105% of the aggregate amount of the Commitments
under such Facility as then in effect, the relevant Borrowers shall, if
requested (through the Agent) by the Lenders holding a majority in interest of
the outstanding Loans (plus, in the case of the Irish Revolving Credit
Facility, the aggregate Available Letter of Credit Amount of all Letters of
Credit then outstanding) and Commitments under such Facility prepay the Loans within
five Business Days following such Borrowers’ receipt of such request in such
amounts as shall be necessary so that after giving effect thereto the aggregate
outstanding amount of the Loans does not exceed the Commitments, in each case
under such Facility.

 

2.11.  Conversion
and Continuation Options. (a)  Each Borrower may elect from time to time to convert
Eurocurrency Loans denominated in Dollars to Base Rate Loans by giving the
Agent at least one Business Day’s prior irrevocable notice of such election; provided
that any such conversion of Eurocurrency Loans may only be made on the last day
of an Interest Period with respect thereto. Each Borrower may elect from time
to time to convert Base Rate Loans to Eurocurrency Loans denominated in Dollars
by giving the Agent at least three Business Days’ prior irrevocable notice of
such election. Any such notice of conversion to Eurocurrency Loans shall
specify the length of the initial Interest Period or Interest Periods therefor.
Upon receipt of any such notice the Agent shall promptly notify each relevant
Lender thereof. All or any part of outstanding Eurocurrency Loans denominated
in Dollars and Base Rate Loans may be converted as provided herein; provided
that (i) no Loan may be converted into a Eurocurrency Loan when any Event of
Default has occurred and is continuing and the Agent has or the Majority
Lenders have determined that such conversion is not appropriate and (ii) no
Loan may be converted into a Eurocurrency Loan after the date that is one month
prior to the Termination Date.

 

(b)  Any
Eurocurrency Loans may be continued as Eurocurrency Loans in the same Currency
upon the expiration of the then current Interest Period with respect thereto by
the applicable Borrower giving notice to the Agent, in accordance with the
applicable provisions of the term “Interest Period” set forth in subsection
1.1, of the length of the next Interest Period to be applicable to such Loans; provided
that (i) no Eurocurrency Loan may be continued as such when any Event of Default
has occurred and is continuing and the Agent has or the Majority Lenders have
determined that such continuation is not appropriate and (ii) no
Eurocurrency Loan may be continued as such after the date that is one month
prior to the Termination Date and provided, further, that if (A)
the applicable Borrower shall

 

45

 

fail to give any required notice as described above in this paragraph,
such Eurocurrency Loans shall be continued on the last day of the then current
Interest Period as Eurocurrency Loans with an Interest Period of one month and
(B) if such continuation is not permitted pursuant to the preceding proviso (I)
any such Eurocurrency Loans denominated in Dollars shall be automatically
converted to Base Rate Loans and (II) any such Eurocurrency Loans denominated
in an Available Foreign Currency shall be deemed to be exchanged for the
Equivalent amount thereof in Dollars and automatically converted to Base Rate
Loans, in each case on the last day of such then expiring Interest Period.

 

2.12.  Minimum
Amounts of Eurocurrency Borrowings; Interest Periods. All Revolving Credit Borrowings and
conversions and continuations of Revolving Credit Loans hereunder and all
selections of Interest Periods for Revolving Credit Loans hereunder shall be in
such amounts and be made pursuant to such elections so that, after giving
effect thereto, the aggregate principal amount of the Revolving Credit Loans
comprising each Eurocurrency Borrowing of Revolving Credit Loans shall be equal
to the Applicable Borrowing Minimum or an Applicable Borrowing Multiple in
excess thereof and so that there shall not be more than an aggregate of 35 Eurocurrency Borrowings outstanding
at any one time in respect of the Revolving Credit Facilities. All Term
Borrowings and conversions and continuations of Term Loans hereunder and all
selections of Interest Periods for Term Loans hereunder shall be in such
amounts and be made pursuant to such elections so that, after giving effect
thereto, there shall not be more than an aggregate of 35  Eurocurrency Borrowings outstanding at any
one time in respect of the Term Facilities.

 

2.13.  Repayment
of Loans and Letter of Credit Drawings; Evidence of Debt. (a)  Each Borrower shall repay
the aggregate outstanding principal amount of the Term Loans made to such
Borrower to the Agent (or applicable Sub-Agent) for the ratable account of the
Term Loan Lenders on the Termination Date (or such earlier date as the Term
Loans become due and payable pursuant to Section 7) in the currency in which
such Loans were borrowed.

 

(b)  Each Borrower
hereby unconditionally promises to pay to the applicable Agent (or applicable
Sub-Agent) for the ratable account of the Revolving Credit Lenders under each
Facility on the Termination Date (or such earlier date as the Revolving Credit
Loans under such Facility become due and payable pursuant to Section 7),
the unpaid principal amount of each Revolving Credit Loan (including, without
limitation, each Swing Line Loan and Yen Swing Line Loan, if any) made to such
Borrower under such Facility; provided that Yen Overdraft Swing Line Loans and
any interest thereon may be repaid directly to the Yen Swing Line Lender.

 

(c)  Each Canadian
Revolving Credit Borrower agrees to repay to the Canadian Sub-Agent for the
ratable account of each Canadian Revolving Credit Lender on the Termination
Date (or such earlier date as the Canadian Revolving Credit Loans become due
and payable pursuant to Section 7), the unpaid principal amount of the Canadian
Revolving Credit Loans made to it and then outstanding. If, notwithstanding
subsection 2.5, a Bankers’ Acceptance remains outstanding on the Termination
Date (or such earlier date as the Canadian Revolving Credit Loans become due
and payable pursuant to Section 7), the applicable Canadian Revolving Credit
Borrower shall, on the Termination Date or such earlier date, post cash
collateral with the Sub-Agent in an amount sufficient to enable such Bankers’
Acceptance to be paid at maturity thereof.

 

(d)  Each Borrower
hereby further agrees to pay interest in immediately available funds at the
office of the Agent on the unpaid principal amount of each Loan made to such
Borrower from time to time from the date hereof until payment in full thereof
at the rates per annum, and on the dates, set forth in subsection 2.14.

 

46

 

(e)  Each Lender
shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the applicable Borrower to the appropriate
Funding Office of such Lender resulting from each Loan made by such Funding
Office of such Lender from time to time, including the amounts of principal and
interest payable and paid to such Funding Office of such Lender from time to
time under this Agreement.

 

(f)  The Agent
shall maintain the Register pursuant to subsection 10.7(b), and a
subaccount for each Lender, in which Register and subaccounts (taken together)
shall be recorded (i) the amount of each Revolving Credit Loan and Term Loan
made hereunder, the Type of each Loan made and the Interest Period applicable
thereto, (ii) the amount of any principal or interest due and payable or to
become due and payable from the applicable Borrower to each Lender hereunder
and (iii) the amount of any sum received by the Agent hereunder from the
Borrowers and each Lender’s share thereof.

 

(g)  The entries
made in the Register and accounts maintained pursuant to paragraphs (e) and (f)
of this subsection 2.13 shall, to the extent permitted by applicable law, be
prima facie evidence of the existence and amounts of the obligations of the
Borrowers therein recorded; provided, however, that the failure
of any Lender or the Agent to maintain such account, such Register or such
subaccount, as applicable, or any error therein, shall not in any manner affect
the obligation of the Borrowers to repay (with applicable interest) the Loans
made to the Borrowers in accordance with the terms of this Agreement.

 

(h)  Each
Revolving Loan and Term Loan of a Lender (other than Banker’s Acceptances) may
be evidenced (if requested by such Lender) by a Note issued by the applicable
Borrower in accordance with subsection 10.7(d).

 

(i)  The payment
obligations of each Borrower under any Letter of Credit Agreement relating to
any Letter of Credit issued for the account of such Borrower shall be absolute
and unconditional and irrevocable and shall be paid strictly in accordance with
the terms of this Agreement and such Letter of Credit Agreement (it being
understood that in the event of any conflict between this Agreement and any
Letter of Credit Agreement, the provisions of this Agreement shall govern)
under all circumstances, including, without limitation, the following
circumstances (it being understood that any such payment by such Borrower is
without prejudice to, and does not constitute a waiver of, any rights
(including, without limitation, the right to assert any claim by separate suit
or compulsory counterclaim) such Borrower might have or might acquire as a
result of the payment by any Issuing Bank of any draft or the reimbursement by
such Borrower thereof), provided that notwithstanding the following, no
Borrower shall in any event be obligated to reimburse such Issuing Bank for any
wrongful payment made by such Issuing Bank under any Letter of Credit as a
result of acts or omission constituting willful misconduct or gross negligence:

 

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

 

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

 

(iii)  the
existence of any claim, set-off, defense or other right that such Borrower may
have at any time against any beneficiary or any transferee of a Letter of
Credit (or any Persons for which any such beneficiary or any such transferee
may be acting), any Issuing Bank, the Agent,

 

47

 

any Lender or any other
Person, whether in connection with the transactions contemplated by the L/C
Related Documents or any unrelated transaction;

 

(iv)  any
statement or any other document presented under a Letter of Credit proving to
be forged, fraudulent, invalid or insufficient in any respect or any statement
therein being untrue or inaccurate in any respect;

 

(v)  payment
by any Issuing Bank under a Letter of Credit against presentation of a draft or
certificate that does not strictly comply with the terms of such Letter of
Credit;

 

(vi)  any
release or amendment or waiver of or consent to departure from any guarantee
for all or any of the obligations of such Borrower in respect of the L/C
Related Documents; or

 

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

 

Notwithstanding anything to the contrary in this
Agreement or any other Loan Document, it is understood and agreed that the
obligations of the Borrowers in their respective capacities as such under this
Agreement or any other Loan Document are several and not joint (it being
understood that this subsection 2.13(i) shall in no way limit the obligations
of the Company under Section 8 of this Agreement or the obligations of any
Guarantor in its capacity as such under the Guaranty).

 

2.14.  Interest
Rates and Payment Dates. (a)  Each Base Rate Loan shall bear interest at a rate per
annum equal at all times to the Base Rate.

 

(b)  Each Canadian
Prime Rate Loan shall bear interest at a rate per annum equal at all times to
the Canadian Prime Rate.

 

(c)  Each Swing
Line Loan shall bear interest at a rate equal to the Federal Funds Rate (as
determined by the Agent from time to time) plus the Applicable Margin
then in effect for Eurocurrency Loans.

 

(d)  Each Yen Swing Line Loan (other than Yen
Overdraft Swing Line Loans) shall bear interest at a rate equal to the Short
Term Prime Rate minus 0.60% per annum. In the event
(an “Adjustment Event”) that, on the first day of any calendar month,
the Short Term Prime Rate (as of such date) minus 0.60% per annum either (i)
exceeds the rate (the “Formula Rate”) equal to the sum of (A) the average
one-month Eurocurrency Rate for yen-denominated borrowings (the “Average
Eurocurrency Rate”) for the immediately preceding full calendar month, (B)
the Applicable Margin (as of such date) and (C) 0.10% per annum or (ii) is less
than such Formula Rate minus 0.20% per annum, then, in either such case, the
Yen Swing Line Lender may, and upon receipt of written request from any of the
Japanese Borrowers shall (in each case without the consent of any other party
to this Agreement), change the rate per annum applicable to Yen Swing Line
Loans pursuant to this Section 2.14(d) (with such change taking effect on the
tenth Business Day following the receipt of such request or the decision by the
Yen Swing Line Lender to make such change) to a rate per annum equal to such
Formula Rate minus 0.10% per annum. If no Adjustment Event exists on the first
day of any calendar month, the rate per annum applicable to Yen Swing Line
Loans pursuant to this Section 2.14(d) shall remain equal to (or shall revert
to, as applicable) the Formula Rate minus 0.10% per annum. At the end of each
calendar month, any one of the Japanese Borrowers shall calculate the Average
Eurocurrency Rate for the immediately preceding full calendar month for the
purpose of computing the interest rate for the immediately following month and
shall provide such calculations to the Agent and Yen Swing Line Lender for use
in setting the interest

 

48

 

rate for the
Yen Swing Line Facility for the following calendar month (subject to the
approval of such calculation by the Yen Swing Line Lender).

 

(e)  Each Yen
Overdraft Swing Line Loan shall bear interest at a rate equal to the Short Term
Prime Rate plus 0.00% per annum.

 

(f)  Subject to
subsection 2.20(c), the Loans comprising each Eurocurrency Borrowing shall bear
interest at a rate per annum equal to, in the case of each Eurocurrency
Revolving Credit Loan and each Eurocurrency Term Loan, the Eurocurrency Rate
for the Interest Period in effect for such Eurocurrency Borrowing plus
the Applicable Margin plus (in the case of a Eurocurrency Rate Loan of
any Lender which is made from a Funding Office in the United Kingdom or a
participating member of the European Union) the Mandatory Cost, if any.

 

(g)  Interest shall
be payable (other than in respect of Borrowings by way of Bankers’ Acceptances)
in arrears on each Interest Payment Date; provided that interest
accruing pursuant to paragraph (i) of this subsection 2.14 shall be payable
from time to time on demand and accrued interest on any Yen Swing Line Loan
shall be payable at the time such Loan is repaid.

 

(h)  The “Applicable Margin” with respect to each
Eurocurrency Revolving Credit Loan, each Eurocurrency Term Loan and each Swing
Line Loan, at any date shall be the applicable percentage amount set forth in
the table below based upon the applicable rating of the Index Debt on such
date:

 

	
   

  	
   

  	
  Level 1

  Index Debt

  rated:

  	
   

  	
  Level 2

  Index Debt

  rated:

  	
   

  	
  Level 3

  Index Debt

  rated:

  	
   

  	
  Level 4

  Index Debt

  rated:

  	
   

  
	
  S&P

  	
   

  	
  BBB+ or

  better

  	
   

  	
  BBB

  	
   

  	
  BBB-

  	
   

  	
  Lower than

  Level 3

  	
   

  
	
  Fitch

  	
   

  	
  BBB+ or

  better

  	
   

  	
  BBB

  	
   

  	
  BBB-

  	
   

  	
  Lower than

  Level 3

  	
   

  
	
  Moody’s

  	
   

  	
  Baa1 or

  better

  	
   

  	
  Baa2

  	
   

  	
  Baa3

  	
   

  	
  Lower than

  Level 3

  	
   

  
	
  Applicable
  Margin

  	
   

  	
  0.600%

  	
   

  	
  0.675%

  	
   

  	
  0.750%

  	
   

  	
  0.925%

  	
   

  

 

In the event that, and from and after the time and
for so long as (but only for so long as), the ratings established by S&P,
Fitch and Moody’s are split, the applicable Level shall be determined
exclusively by reference to the highest of the available ratings except that,
in the event that the lowest of such ratings is more than one level below the
highest of such ratings, then pricing will be determined based on the lower of
the two highest ratings. If S& P, Fitch or Moody’s shall cease to issue
ratings of debt securities generally, then the Agent and the Company shall
negotiate in good faith to agree upon a substitute rating agency (and to
correlate the system of ratings of such substitute rating agency with that of
the rating agency for which it is substituting) and (i) until such substitute
rating agency is agreed upon, the foregoing test may be satisfied on the basis
of the rating assigned by the other such rating agencies and (ii) after such
substitute rating agency is agreed upon, the foregoing test may be satisfied on
the basis of the rating assigned by the other rating agencies and such
substitute rating agency.

 

49

 

(i)  If all or a
portion of (i) the principal amount of any Loan, (ii) any interest payable
thereon or (iii) any facility fee or other amount payable hereunder shall not
be paid when due (whether at the stated maturity, by acceleration or
otherwise), such overdue amount shall bear interest at a rate per annum which
is the rate that would otherwise be applicable thereto (including any Mandatory
Cost) pursuant to the foregoing provisions of this subsection 2.14 plus 2.00%
from the date of such non-payment until such amount is paid in full (as well
after as before judgment). For purposes of this Agreement, principal shall be “overdue”
only if not paid in accordance with the provisions of subsection 2.13.

 

2.15.  Facility
Fee. (a) The
Company shall pay to the Agent, for the account of each Lender, a facility fee
at the rate per annum equal to (a) for each day that the applicable level of
the Company is Level 1, 0.100%, (b) for each day that the applicable Level of
the Company is Level 2, 0.125%, (c) for each day that the applicable Level of
the Company is Level 3, 0.150% and (d) for each day that the applicable Level
of the Company is Level 4, 0.175%, in each case of the sum of (x) the aggregate
Revolving Credit Commitments of (or if the Revolving Credit Commitments have
been terminated, the aggregate principal amount of the Revolving Credit Loans
made by) such Lender, plus (y) the aggregate Term Commitments of (or if
the Term Commitments have been terminated, the aggregate outstanding principal
of the Term Loans made by) such Lender, in each case in effect or outstanding,
as applicable, on such day. On the first Business Day following the last day of
each fiscal quarter of the Company and on the Termination Date (or, if earlier,
on the date upon which both the Commitments are terminated and the Loans are
paid in full), the Company shall pay to the Agent, for the ratable benefit of
each Lender, the portion of such facility fee which accrued during the fiscal
quarter most recently ended (or, in the case of the payment due on the
Termination Date, the portion thereof ending on such date).

 

(b)           Each Borrower shall
pay to the Agent for the account of each Irish Revolving Credit Lender a
commission on such Lender’s Irish Revolving Credit Commitment Percentage of the
average daily aggregate Available Letter of Credit Amount of all Letters of
Credit issued for the account of such Borrower and outstanding from time to
time at a rate per annum equal to the Eurocurrency Margin in effect from time
to time during such calendar quarter, payable quarterly in arrears on each
March 31, June 30, September 30 and December 31 and on the Termination Date.

 

(c)           Each Borrower shall
pay to each Issuing Bank, for its own account, a fronting fee and such other
commissions, issuance fees, transfer fees and other fees and charges as such
Borrower and such Issuing Bank shall agree in connection with the Issuance or
administration of each Letter of Credit issued by such Issuing Bank for the
account of such Borrower.

 

2.16.  Computation
of Interest and Fees. (a)  Interest on all Loans shall be computed on the basis
of the actual number of days elapsed over a year of 360 days or, in the case of
Base Rate Loans and Canadian Prime Rate Loans, a year of 365 or 366 days as
appropriate (in each case including the first day but excluding the last day). Each
determination of an interest rate by the Agent pursuant to any provision of
this Agreement shall be conclusive and binding on each Borrower and the Lenders
in the absence of manifest error. All fees shall be computed on the basis of a
year composed of twelve 30-day months. The Agent shall, at any time and from
time to time upon request of the Company, deliver to the Company a statement
showing the quotations used by the Agent in determining any interest rate
applicable to Revolving Credit Loans or Term Loans pursuant to this Agreement.

 

(b)  If any
Reference Lender shall for any reason no longer have a Commitment, such
Reference Lender shall thereupon cease to be a Reference Lender, and if, as a
result thereof, there shall only be one Reference Lender remaining, the Company
and the Agent (after consultation with the Lenders) shall, by notice to the
Lenders, designate another Lender as a Reference Lender so that there shall at
all times be at least two Reference Lenders.

 

50

 

(c)  Each
Reference Lender shall use its best efforts to furnish quotations of rates to
the Agent as contemplated hereby. If any of the Reference Lenders shall be
unable or shall otherwise fail to supply such rates to the Agent upon its
request, the rate of interest shall, subject to the provisions of subsection
2.17, be determined on the basis of the quotations of the remaining Reference
Lenders.

 

(d)  With respect
to Loans made to a Canadian Revolving Credit Borrower, whenever a rate of
interest hereunder is calculated on the basis of a year (the “deemed year”)
which contains fewer days than the actual number of days in the calendar year
of calculation, such rate of interest shall be expressed as a yearly rate for
purposes of the Interest Act (Canada) by multiplying such rate of interest by
the actual number of days in the calendar year of calculation and dividing it
by the number of days in the deemed year.

 

(e)  With respect
to Loans made to a Canadian Revolving Credit Borrower, the principle of deemed
reinvestment of interest shall not apply to any interest calculation under this
Agreement; all interest payments to be made hereunder shall be paid without
allowance or deduction for reinvestment or otherwise, before and after
maturity, default and judgment. The rates of interest specified in this
Agreement are intended to be nominal rates and not effective rates. Interest
calculated hereunder shall be calculated using the nominal rate method and not
the effective rate method of calculation.

 

(f)  Notwithstanding
any provision of this Agreement, in no event shall the aggregate “interest” (as
defined in Section 347 of the Criminal Code (Canada)) payable by a Canadian
Revolving Credit Borrower under this Agreement exceed the effective annual rate
of interest on the “credit advanced” (as defined in the Section) under this
Agreement lawfully permitted by that Section and, if any payment, collection or
demand pursuant to this Agreement in respect of “interest” (as defined in that
Section) is determined to be contrary to the provisions of that Section, such
payment, collection or demand shall be deemed to have been made by mutual
mistake of such Canadian Revolving Credit Borrower, the Canadian Sub-Agent and
the Canadian Revolving Credit Lenders and the amount of such payment or
collection shall be refunded to such Canadian Revolving Credit Borrower. For
the purposes of this Agreement, the effective annual rate of interest shall be
determined in accordance with generally accepted actuarial practices and
principles over the relevant term and, in the event of a dispute, a certificate
of a Fellow of the Canadian Institute of Actuaries appointed by the Canadian
Sub-Agent will be prima facie evidence of such rate.

 

2.17.  Inability
to Determine Interest Rate. If the Eurocurrency Rate cannot be determined by the Agent in the
manner specified in the definition of the term “Eurocurrency Rate” contained in
subsection 1.1 of this Agreement, the Agent shall give telecopy or telephonic
notice thereof to the Borrowers and the Lenders as soon as practicable
thereafter. Until such time as the Eurocurrency Rate can be determined by the
Agent in the manner specified in the definition of such term contained in said
subsection 1.1, no further Eurocurrency Loans shall be continued as such at the
end of the then current Interest Period or (other than any Eurocurrency Loans
previously requested and with respect to which the Eurocurrency Rate previously
was determined) shall be made, nor shall the Borrowers have the right to
convert Base Rate Loans to Eurocurrency Loans.

 

2.18.  Pro
Rata Treatment and Payments. (a)  Each Revolving Credit Borrowing from the Lenders
hereunder, each payment by the Company on account of any facility fee hereunder
and (except as provided in subsection 2.23(c)) any reduction of the Revolving
Credit Commitments of the Revolving Credit Lenders shall be made pro rata
according to the relevant respective Revolving Credit Commitment Percentages of
the Revolving Credit Lenders under the relevant Revolving Credit Facility. Each
Term Borrowing from the Term Loan Lenders hereunder and (except as provided in
subsection 2.23(c)) any reduction of the Term Commitments of the Term Loan
Lenders shall be made pro rata according to the respective Term Commitments of
the Term Loan Lenders under the relevant Term Loan Facility. Each

 

51

 

payment (including each prepayment) by any
Borrower on account of principal of and interest on the Revolving Credit Loans
or Term Loans under any Facility shall be made pro rata according to the
respective outstanding principal amounts of the Revolving Credit Loans or Term
Loans made to such Borrower then held by the Lenders under such Facility. Each
payment by the Company on account of principal of or interest on the Swing Line
Loans shall be made pro rata according to the respective outstanding principal
amounts of the Swing Line Loans then held by the Swing Line Lenders. Each
payment by a Japanese Borrower on account of principal of or interest on the
Yen Swing Line Loans shall be made pro rata according to the respective outstanding
principal amounts of the Yen Swing Line Loans then held by the Yen Swing Line
Lender.

 

(b)  All payments
(including prepayments) to be made by the Borrowers hereunder, whether on
account of principal, interest, fees or otherwise, shall be made without
set-off or counterclaim. All payments (including prepayments) in respect of
Loans in any Currency shall be made in such Currency and in immediately
available funds at the Payment Office, and at or prior to 12:00 Noon (local
time at the applicable Payment Office), on the due date thereof. The Agent
shall distribute such payments to the relevant Lenders promptly upon receipt in
like funds as received. If any payment hereunder (other than payments on the
Eurocurrency Loans) becomes due and payable on a day other than a Business Day,
such payment shall be extended to the next succeeding Business Day, and, with
respect to payments of principal, interest thereon shall be payable at the then
applicable rate during such extension. If any payment on a Eurocurrency Loan
becomes due and payable on a day other than a Business Day, the maturity
thereof shall be extended to the next succeeding Business Day unless the result
of such extension would be to extend such payment into another calendar month,
in which event such payment shall be made on the immediately preceding Business
Day.

 

(c)  Unless the
Agent (or applicable Sub-Agent) shall have been notified in writing by any
Lender prior to the deadline for funding a Borrowing that such Lender will not
make the amount that would constitute its pro rata share of such Borrowing
available to the Agent (or applicable Sub-Agent), the Agent (or applicable
Sub-Agent) may assume that such Lender is making such amount available to the
Agent (or applicable Sub-Agent), and the Agent (or applicable Sub-Agent) may,
in reliance upon such assumption, make available to the applicable Borrower a
corresponding amount. If such amount is not made available to the Agent (or
applicable Sub-Agent) by the required time on the borrowing date therefor, such
Lender shall pay to the Agent (or applicable Sub-Agent), on demand, such amount
with interest thereon at a rate equal to the daily average Federal Funds Rate
for the period until such Lender makes such amount immediately available to the
Agent (or applicable Sub-Agent). A certificate of the Agent (or applicable
Sub-Agent) submitted to any Lender with respect to any amounts owing under this
subsection 2.18 shall be conclusive in the absence of manifest error. If such
Lender’s pro rata share of such Borrowing is not made available to the Agent
(or applicable Sub-Agent) by such Lender within three Business Days of such
borrowing date, the Agent (or applicable Sub-Agent) shall be entitled to
recover such amount with interest thereon (such interest being in lieu of and
not in addition to any interest otherwise payable pursuant to subsection 2.13)
at the Federal Funds Rate, on demand, from the applicable Borrower.

 

2.19.  Illegality.
Notwithstanding any other provision herein, if the adoption of or any change in
any Requirement of Law or in the interpretation or application thereof shall
make it unlawful for any Lender to make or maintain Eurocurrency Loans as
contemplated by this Agreement, such Lender shall give notice thereof to the
Agent and the Company describing the relevant provisions of such Requirement of
Law (and, if the Company shall so request, provide the Company with a
memorandum or opinion of counsel of recognized standing (as selected by such
Lender) as to such illegality), following which (a) the commitment of such
Lender hereunder to make Eurocurrency Loans, continue Eurocurrency Loans as
such and convert Base Rate Loans to Eurocurrency Loans shall forthwith be
canceled and (b) such Lender’s Loans then outstanding as Eurocurrency Loans, if
any, shall (i) if such Eurocurrency Loans

 

52

 

are denominated in Dollars, be
converted automatically to Base Rate Loans and (ii) if such Eurocurrency Loans
are denominated in an Available Foreign Currency, be deemed to be exchanged for
the Equivalent amount in Dollars of such Loans and converted automatically to
Base Rate Loans, in each case, (A) on the respective last days of the then
current Interest Periods with respect to such Loans or (B) within such earlier
period as required by law. If any such conversion of a Eurocurrency Loan occurs
on a day which is not the last day of the then current Interest Period with
respect thereto, the applicable Borrower shall pay to such Lender such amounts,
if any, as may be required pursuant to subsection 2.22.

 

2.20.  Increased
Costs. Except
with respect to Taxes, which are governed exclusively by subsection 2.21 of
this Agreement, (a)  if there shall be (i) any increase in the cost
to any Lender of agreeing to make or making, funding or maintaining any Loans,
(ii) any reduction in any amount receivable in respect thereof or (iii) in the
case of any Eurocurrency Borrowing, without duplication, any failure of the
Mandatory Cost (as calculated hereunder) to cover the cost to any Lender of
complying with the requirements of the Bank of England and/or the Financial
Services Authority or the European Central Bank in relation to its making,
funding or maintaining Eurocurrency Rate Loans, and, in each case, such
increased cost or reduced amount receivable is due to either:

 

(x)  the
introduction of or any change in or in the interpretation of any law or
regulation after the date hereof; or

 

(y)  the
compliance with any guideline or request made after the date hereof from any
central bank or other Governmental Authority (whether or not having the force
of law),

 

then (subject to the
provisions of subsection 2.23) the applicable Borrower shall from time to time,
upon written demand by such Lender pay such Lender additional amounts sufficient
to compensate such Lender for such increased cost or reduced amount receivable.
The foregoing provisions of this clause (a) shall not apply to the extent that
any increase in cost or reduction in amount receivable is compensated for by
the payment of the Mandatory Cost.

 

(b)  If any Lender
shall have reasonably determined that (i) the applicability of any law, rule,
regulation or guideline adopted after the date hereof pursuant to or arising
out of the July 1988 paper of the Basle Committee on Banking Regulations and
Supervisory Practices entitled “International Convergence of Capital
Measurement and Capital Standards,” or (ii) the adoption after the date hereof
of any other law, rule, regulation or guideline regarding capital adequacy
affecting such Lender, or (iii) any change arising after the date hereof in the
foregoing or in the interpretation or administration of any of the foregoing by
any Governmental Authority, central bank or comparable agency charged with the
interpretation or administration thereof, or (iv) compliance by such Lender (or
any Funding Office of such Lender), or any holding company for such Lender
which is subject to any of the capital requirements described above, with any
request or directive of general application issued after the date hereof
regarding capital adequacy (whether or not having the force of law) of any such
authority, central bank or comparable agency, has or would have the effect of
reducing the rate of return on such Lender’s capital or on the capital of any
such holding company as a direct consequence of such Lender’s obligations
hereunder to a level below that which such Lender or any such holding company
could have achieved but for such adoption, change or compliance (taking into
consideration such Lender’s policies and the policies of such holding company
with respect to capital adequacy) by an amount deemed by such Lender to be
material, then (subject to the provisions of subsection 2.23) from time to time
such Lender may request the applicable Borrower to pay to such Lender such
additional amounts as will compensate such Lender or any such holding company
for any such reduction suffered, net of the savings (if any) which may be
reasonably projected to be associated with such increased capital requirement.
Any certificate as to such amounts which is delivered pursuant to subsection
2.23(a) shall, in addition to any items required by subsection 2.23(a), include
the calculation of the savings (if any) which may be reasonably projected

 

53

 

to be associated with such increased capital requirement; provided
that in no event shall any Lender be obligated to pay or refund any amounts to
the Borrowers on account of such savings.

 

(c)  In the event
that any Governmental Authority shall impose any Eurocurrency Reserve
Requirements which increase the cost to any Lender of making or maintaining
Eurocurrency Loans, then (subject to the provisions of subsection 2.23) the
applicable Borrower shall thereafter pay in respect of the Eurocurrency Loans
of such Lender a rate of interest based upon the Eurocurrency Reserve Rate
(rather than upon the Eurocurrency Rate). From and after the delivery to the
applicable Borrower of the certificate required by subsection 2.23(a), all
references contained in this Agreement to the Eurocurrency Rate shall be deemed
to be references to the Eurocurrency Reserve Rate with respect to each such
affected Lender.

 

2.21.  Taxes. (a)  All payments made by each
Borrower under this Agreement and any other Loan Document shall be made free
and clear of, and without deduction or withholding for or on account of, any
present or future income, stamp or other taxes, levies, imposts, duties,
charges, fees, deductions or withholdings (collectively, “Taxes”), now or
hereafter imposed, levied, collected, withheld or assessed by any Governmental
Authority, excluding net income taxes and franchise taxes or any other tax
based upon net income imposed on the Agent or any Lender as a result of a
present or former connection between the Agent or such Lender and the
jurisdiction of the Governmental Authority imposing such tax or any political
subdivision or taxing authority thereof or therein (other than any such
connection arising solely from the Agent or such Lender having executed,
delivered or performed its obligations or received a payment under, or
enforced, this Agreement or any other Loan Document). If any such non-excluded
taxes, levies, imposts, duties, charges, fees deductions or withholdings (“Non-Excluded
Taxes”) are required to be withheld from any amounts payable to the Agent
or any Lender hereunder, the amounts so payable to the Agent or such Lender
shall be increased to the extent necessary to yield to the Agent or such Lender
(after payment of all Non-Excluded Taxes) a net amount equal to the amount it
would have received had no such deduction or withholding been made. Notwithstanding
the foregoing, no Borrower shall be required to increase any such amounts
payable to any Lender with respect to any Non-Excluded Taxes (i) that are
attributable to such Lender’s failure to comply with the requirements of
paragraph (b) of this subsection 2.21, (ii) that are withholding taxes
applicable to such Lender at the time such Lender becomes a party to this
Agreement, except to the extent that such Lender’s assignor (if any) was
entitled, at the time of assignment, to receive additional amounts from such
Borrower with respect to such Non-Excluded Taxes pursuant to this paragraph,
(iii) that are imposed by Canada on any amount paid or credited under the
Canadian Revolving Credit Facility to any Lender that is a non-resident for
purposes of the Income Tax Act (Canada) in respect of such amount or (iv) that
are imposed by Ireland on any amount paid or credited to any Lender where the confirmations
given in accordance with paragraphs 2.21(f)(Y) or 2.21(f)(Z) on the date
hereof, or on the date on which a Lender becomes a party to this Agreement,
prove to be incorrect. Whenever any Non-Excluded Taxes are payable by any
Borrower, as promptly as possible thereafter, the applicable Borrower shall
send to the Agent for its own account or for the account of such Lender, as the
case may be, a certified copy of an original official receipt received by the
applicable Borrower showing payment thereof. If any Borrower fails to pay any
Non-Excluded Taxes when due to the appropriate taxing authority or fails to
remit to the Agent the required receipts or other required documentary
evidence, such Borrower shall indemnify the Agent, each Sub-Agent and the
Lenders for any incremental taxes, interest or penalties that may become
payable by the Agent or any Lender as a result of any such failure. The
agreements in this subsection 2.21 shall survive the termination of this
Agreement and the payment of all other amounts payable hereunder.

 

(b)  Each Lender
that is not a “U.S. Person” as defined in Section 7701(a)(30) of the Code (“Non-US
Lender”) shall:

 

54

 

(X)(i)  on or before the date such Non-US Lender becomes a
Lender or a Participant under this Agreement, deliver to the Borrowers and the
Agent two duly completed copies of United States Internal Revenue Service
Form W-8BEN or W-8ECI, or successor applicable form, as the case may be,
certifying that it is entitled to receive payments under this Agreement without
deduction, withholding or backup withholding of any United States federal
income taxes;

 

(ii)  if, and to the extent, such Lender is legally entitled
to do so, deliver to the Borrowers and the Agent two further copies of any such
form or certification on or before the date that any such form or certification
expires or becomes obsolete and after the occurrence of any event requiring a
change in the most recent form previously delivered by it to the Borrowers; and

 

(iii)  if, and to the extent, such Lender is legally entitled
to do so, obtain such extensions of time for filing and completing such forms
or certifications as may reasonably be requested by the any Borrower or the
Agent;

 

(Y)  in the case of any such Non-US Lender
claiming exception from U.S. federal withholding tax under Section 871(h) or
881(c) of the Code with respect to payment of “portfolio interest”, deliver on
or before the date such Non-US Lender becomes a Lender or a Participant under
this Agreement,  (A) a certificate
substantially in the form of Exhibit L (any such certificate a “US Tax
Compliance Certificate”), (B) two accurate and complete original signed
copies of Internal Revenue Service Form W-8BEN, or successor applicable form,
certifying to such Lender’s legal entitlement at the date of such certificate
to a complete exemption from US withholding tax, (C) two further copies of such
form and certification (I) on or before the date it expires or becomes obsolete
and (II) if and to the extent such Non-US Lender is then legally able to
provide such form or certification, after the occurrence of any event requiring
a change in the most recent form previously delivered by it to the Borrowers,
and, (D) if and to the extent such Non-US Lender is then legally able to do so,
if necessary, obtain any extensions of time reasonably requested by a Borrower
or the Agent for filing and completing such forms, and (iii) agree, if and
to the extent such Non-US Lender is then legally entitled to do so, upon
reasonable request by a Borrower, to provide to such Borrower (for the benefit
of such Borrower and the Agent) such other forms as may be reasonably required
in order to establish the legal entitlement of such Lender to a complete
exemption from or reduced rate of withholding with respect to payments under
this Agreement and any Notes; or

 

(Z)  in the case of any Lender that is
entitled to an exemption from or reduction of non-U.S. withholding tax under
the law of the jurisdiction in which the Company is located, or any treaty to
which such jurisdiction is a party, with respect to payments under this
Agreement, deliver to the Company, at the time or times prescribed by
applicable law or reasonably requested by the Company, such properly completed
and executed documentation prescribed by applicable law as will permit such
payments to be made without withholding or at a reduced rate, provided
that such Lender is legally entitled to complete, execute and deliver such
documentation and in such Lender’s judgment such completion, execution or
submission would not materially prejudice the legal position of such Lender.

 

unless in any such case an
event (including, without limitation, any change in treaty, law or regulation)
has occurred prior to the date on which any such delivery would otherwise be
required which renders all such forms inapplicable or which would prevent such
Lender from duly completing and delivering any such form with respect to it and
such Lender so advises the Company, any other applicable Borrower and the Agent.
Each Non-U.S. Lender that is an Assignee or Participant hereunder pursuant to
subsection

 

55

 

10.7 shall, upon the
effectiveness of the related transfer, be required to provide all of the forms
and statements required pursuant to this subsection 2.21; provided that
in the case of a Participant such Participant shall furnish all such required
forms and statements, documentation or certifications to the Lender from which
the related participation shall have been purchased, and such Lender shall in
turn furnish all such required forms (including, without limitation, Internal
Revenue Service Form W-8IMY), documentation and certifications to the Company,
any other applicable Borrower and the Agent. Any Lender or Participant that is
a “United States person” (within the meaning of Code section 7701(a)(30)) but
is not incorporated under the laws of the United States or a state thereof
shall furnish the Company, any other applicable Borrower and the Agent with a
Form W-9 or successor form thereto, certifying an exemption from backup
withholding in respect of payments hereunder, if it is legally entitled to do
so.

 

(c)  If and to the
extent that a Lender, in its sole discretion (exercised in good faith),
determines that it has received or been granted a credit against, a relief
from, a remission of, or a repayment of, any Non-Excluded Tax, in respect of
which it has received additional payment under subsection 2.21(a) of this
Agreement, then such Lender shall pay to the applicable Borrower the amount of
such credit, relief, remission or repayment so determined by such Lender, in
its sole discretion (exercised in good faith), attributable to such deduction
or withholding of Non-Excluded Tax; provided that the Lender shall not
be obligated to make any payment under this paragraph in respect of such
credit, relief, refund, remission or repayment until the Lender, in its sole
judgment (exercised in good faith), is satisfied that its tax affairs for the
tax year in respect of which such credit, relief, remission or repayment was
obtained have been finally settled.

 

(d)  Each Canadian
Revolving Credit Lender confirms to the Agent and the Canadian Revolving Credit
Borrowers that it is not a non-resident of Canada for purposes of Part XIII of
the Income Tax Act (Canada) in respect of any amount paid or credited to it
pursuant to this Agreement and agrees to notify the Agent and the Canadian
Revolving Credit Borrowers immediately in writing should it become a
non-resident of Canada for such purposes. Each Loan made to a Canadian
Revolving Credit Borrower that is not domiciled in Canada shall be made from a
Funding Office of such Lender (or branch or affiliate of such Lender) located
in an appropriate jurisdiction for the purposes of making such Loans that is
outside of Canada.

 

(e)  If a Lender that is not a Japanese
corporation and that extends Loans to a Borrower that is qualified to claim an
exemption from Japanese withholding tax or to claim a decreased rate of
withholding tax, as the case may be, on interest to be paid to such Lender with
respect to such Loans (i) by obtaining a withholding tax exemption certificate
from the director of the competent national regional tax office pursuant to
Article 180, paragraph 1 of the Japanese Income Tax Law (Law No. 33 of 1965, as
amended) (or any successor provisions thereto) or any other tax law and
regulation then effective and presenting such certificate to such Borrower or
(ii) by submitting, through such Borrower, any required forms and other
documents to the relevant Japanese tax office or other relevant authorities
pursuant to any tax law and regulation then effective or any applicable tax
treaty, then such Lender shall timely present such certificate to the relevant
Borrower or shall timely submit, as the case may be, through such Borrower, any
such required forms and other documents to the relevant Japanese tax office or
other relevant authorities. Any provision in this Agreement to the contrary
notwithstanding, no Borrower shall be required to pay additional amounts on
account of, or reimburse for, a Japanese withholding tax to the extent
attributable to such Lender’s failure to comply with the requirements of this
subsection (e).

 

(f)  (X) With
regard to any borrowings by an Irish Bank other than borrowings under the Irish
Revolving Credit Facility, such Irish Bank confirms that it is carrying on a
bona fide banking business in Ireland with which all interest payments made
pursuant to this Agreement are connected and that such interest is paid in the
ordinary course of its business.

 

56

 

(Y)           In the case of interest paid to an Irish Revolving Credit
Lender by an Irish Revolving Credit Borrower which is not an Irish Bank or
which is an Irish Bank but the interest is paid otherwise than in the ordinary
course of its banking business, each Irish Revolving Credit Lender hereby
confirms that it is:

 

(i)  an
Irish Bank which is carrying on a bona fide banking business in Ireland with
which interest payments made pursuant to this Agreement are connected;

 

(ii)  (a)
a person that is resident for the purposes of tax in a member state of the
European Communities (other than Ireland) or in a territory with which Ireland
has concluded a double taxation treaty that is in effect (residence for such
purposes being determined in accordance with the laws of the territory of which
the Lender claims to be resident); or

 

(b) a corporation organized under the laws of a jurisdiction located
within the United States and subject to taxation in the United States on its
worldwide income; or

 

(c) a limited liability company organized under the laws of a
jurisdiction located within the United States, provided that the
ultimate recipients of the interest are resident in and under the laws of a
country with which Ireland has a double taxation treaty or resident in and
under the laws of a member state of the European Communities (other than
Ireland) and the business conducted through such limited liability company is
so structured for commercial reasons and not for purposes of tax avoidance;

 

provided,
that in each case of sub-clause (a), (b) or (c) above, such Person is not
carrying on a trade or business in Ireland through any agency or branch with
which interest payments made pursuant to this Agreement are connected; or

 

(iii)  a
Person that is treated, under the terms of a treaty, as a resident of a
jurisdiction which has a double taxation treaty with Ireland, which treaty
provides for full exemption from tax imposed by Ireland on interest received or
receivable by such Person, for the purposes of that treaty, and which Person is
entitled to the benefits of such exemption and provided that the
required procedural formalities have been completed; or

 

(iv)  a
body corporate which is resident in Ireland for the purposes of Irish tax or
which carries on a trade in Ireland through a branch or agency:

 

(a)  which advances money
pursuant to this Agreement in the ordinary course of a trade which includes the
lending of money;

 

(b)  in whose hands any interest
payable in respect of this Agreement is taken into account in computing the
trading income of the Company; and

 

(c)  that has complied with all
of the provisions of Section 246(5)(a) of the Taxes Consolidation Act, 1997, as
amended, of Ireland (the “Taxes Act”) including the making of appropriate
notifications thereunder to the Irish Revenue Commissioners; or

 

(v)  a
qualifying company within the meaning of Section 110 of the Taxes Act.

 

57

 

(Z) In the case of any Irish Revolving Credit
Borrower that is an Irish Bank, each Irish Revolving Credit Lender confirms
that it is an Irish Bank or that it will file with such Irish Revolving Credit
Borrower prior to any interest payment being made a declaration in accordance
with Section 263 of the Taxes Act confirming that it is not a resident of
Ireland.

 

2.22.  Indemnity.
If (a) any payment of principal of any Eurocurrency Loan is made by a
Borrower to or for the account of a Lender other than on the last day of the
Interest Period for such Eurocurrency Loan as a result of a payment or
conversion pursuant to subsection 2.10, 2.11, 2.13, or 2.20, as a result of
acceleration of the maturity of the Loans pursuant to Section 7 or for any
other reason, (b) any Borrowing of Eurocurrency Loans is not made as a result
of a withdrawn notice of borrowing, (c) any Base Rate Loan is not converted
into a Eurocurrency Loan as a result of a withdrawn notice of conversion or
continuation, (d) any Eurocurrency Loan is not continued as a Eurocurrency Loan
as a result of a withdrawn notice of conversion or continuation or (f) any
prepayment of principal of any Eurocurrency Loan is not made as a result of a
withdrawn notice of prepayment pursuant to subsection 2.10, the applicable
Borrower shall, after receipt of a written request by such Lender (which
request shall set forth in reasonable detail the basis for requesting such
amount), pay to the Agent for the account of such Lender any amounts required
to compensate such Lender for any additional losses, costs or expenses that
such Lender may reasonably incur as a result of such payment, failure to
convert, failure to continue or failure to prepay, including any loss, cost or
expense (excluding loss of anticipated profits) actually incurred by reason of
the liquidation or reemployment of deposits or other funds acquired by any
Lender to fund or maintain such Eurocurrency Loan.

 

2.23.  Notice
of Amounts Payable; Relocation of Funding Office; Mandatory Assignment. (a)  In
the event that any Lender becomes aware that any amounts are or will be owed to
it pursuant to subsection 2.19, 2.20, 2.21(a) or 2.22, then it shall promptly
notify the applicable Borrower (and the Company if not the same) thereof and,
as soon as possible thereafter, such Lender shall submit to such Borrower (and
the Company if not the same) a certificate indicating the amount owing to it,
the calculation thereof and a description in reasonable detail of the
circumstances giving rise to such amount. The amounts set forth in such
certificate shall be prima facie evidence of the obligations of the Borrower
hereunder; provided, however, that the failure of a Borrower to
pay any amount owing to any Lender pursuant to subsection 2.19, 2.20, 2.21(a)
or 2.22 shall not be deemed to constitute a Default or an Event of Default
hereunder to the extent that such Borrower is contesting in good faith its
obligation to pay such amount by ongoing discussions diligently pursued with
such Lender or by appropriate proceedings.

 

(b)  If a Lender
claims any additional amounts payable pursuant to subsection 2.19 or 2.20, it
shall use its reasonable efforts (consistent with legal and regulatory
restrictions) to avoid the need for paying such additional amounts, including
changing the jurisdiction of its applicable Funding Office, provided
that the taking of any such action would not, in the reasonable judgment of
such Lender, be disadvantageous to such Lender.

 

(c)  In the event
that any Lender delivers to a Borrower a certificate in accordance with
subsection 2.23(a) (other than a certificate as to amounts payable pursuant to
subsection 2.22), or such Borrower is required to pay any additional amounts or
other payments in accordance with subsection 2.19, 2.20 or 2.21(a), such
Borrower may, at its own expense and in its sole discretion, (i) require such
Lender to transfer or assign, in whole or in part, without recourse (in
accordance with subsection 10.7), all or part of its interests, rights and
obligations under this Agreement to another Person (provided that such
Borrower, with the full cooperation of such Lender, can identify a Person who
is ready, willing and able to be an Assignee with respect to thereto) which
shall assume such assigned obligations (which Assignee may be another Lender,
if such Assignee Lender accepts such assignment) or (ii) during such time as no
Default or Event of Default has occurred and is continuing, terminate the
Commitment of such Lender

 

 

58

 

and prepay all outstanding Loans of such Lender; provided that
(x) such Borrower or the Assignee, as the case may be, shall have paid to such
Lender in immediately available funds the principal of and interest accrued to
the date of such payment on the Loans made by it hereunder and (subject to
subsection 2.22) all other amounts owed to it hereunder and (y) such assignment
or termination of the Commitment of such Lender and the prepayment of Loans is
not prohibited by any law, rule or regulation or order of any court or Governmental
Authority.

 

2.24.  Availability.
Notwithstanding any provision to the contrary contained in this Agreement, (i)
Base Rate Loans denominated in Dollars shall only be available to US Borrowers
domiciled in the United States, (ii) Bankers’ Acceptances and Canadian Prime
Rate Loans shall only be available to Canadian Revolving Credit Borrowers
domiciled in Canada and (iii) Yen Swing Line Loans (unless otherwise consented
to by the Yen Swing Line Lender) and Loans made from Funding Offices located in
Japan shall only be available to Japanese Borrowers domiciled in Japan (it
being understood that such restriction shall not affect the obligation of any
Japanese Lender to make Loans to Japanese Borrowers that are not domiciled in
Japan).

 

SECTION 3.  REPRESENTATIONS AND
WARRANTIES

 

To induce the Agent and the Lenders to enter into
this Agreement and to make the Loans and to issue Letters of Credit, each of
the Company and, except in the case of subsections 3.1, 3.2 and 3.11 below,
each other Borrower hereby represents and warrants to the Agent and each Lender
that:

 

3.1.  Financial
Condition. The Company has heretofore furnished to each Lender a copy of
its consolidated financial statements for its fiscal year ended
December 31, 2004 and for its fiscal quarters ended March 31, 2005,
June 30, 2005 and September 30, 2005. Such financial statements present fairly
the financial condition and results of operations of the Company and its
Subsidiaries as of such dates in accordance with GAAP.

 

3.2.  No
Change. As of the date hereof, since March 31, 2005, there has been no
development or event which has had a Closing Date Material Adverse Effect.

 

3.3.  Corporate
Existence. Such Borrower (a) is duly organized, validly existing and in
good standing (to the extent applicable under the laws of such Borrower’s
jurisdiction of organization) under the laws of its jurisdiction of
organization, (b) has the power and authority under its constituent documents,
and the legal right, to own and operate its property, to lease the property it
operates as lessee and to conduct the business in which it is currently engaged
and (c) is duly qualified as a foreign corporation (or other entity, as
applicable) and in good standing under the laws of each jurisdiction where its
ownership, lease or operation of property or the conduct of its business
requires such qualification, except to the extent that all failures to be duly
qualified and in good standing could not, in the aggregate, have a Material
Adverse Effect.

 

3.4.  Corporate
Power; Authorization; Enforceable Obligations. Such Borrower has the
corporate (or other organizational) power and authority, and the legal right,
to make, deliver and perform its obligations under this Agreement and to borrow
hereunder and has taken all necessary corporate (or other organizational)
action to authorize its Borrowings on the terms and conditions of this
Agreement and to authorize the execution, delivery and performance of this
Agreement. No consent or authorization of any Governmental Authority or any
other Person is required in connection with its Borrowings hereunder or with
its execution, delivery and performance of this Agreement, or the validity or
enforceability of this Agreement against it. This Agreement has been duly
executed and delivered on behalf of such Borrower. This Agreement constitutes a
legal, valid and binding obligation of such Borrower enforceable against such
Borrower in accordance with its terms, except as enforceability may

 

59

 

be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
the enforcement of creditors’ rights generally and by general equitable
principles (whether enforcement is sought by proceedings in equity or at law).

 

3.5.  No
Legal Bar. The execution, delivery and performance of this Agreement, its
Borrowings hereunder and the use of the proceeds thereof will not violate any
Requirement of Law or Contractual Obligation of such Borrower and will not
result in, or require, the creation or imposition of any Lien on any of its
properties or revenues pursuant to any such Requirement of Law or Contractual
Obligation, except to the extent that all such violations and creation or
imposition of Liens could not, in the aggregate, have a Material Adverse
Effect.

 

3.6.  No
Material Litigation. No litigation, investigation or proceeding of or
before any arbitrator or Governmental Authority is pending or, to the knowledge
of such Borrower, threatened by or against such Borrower or any of its
Subsidiaries or against any of its or their respective properties or revenues
as of the Closing Date (a) with respect to this Agreement or any of the
actions contemplated hereby, or (b) which involves a probable risk of an
adverse decision which would materially restrict the ability of such Borrower
to comply with its obligations under this Agreement.

 

3.7.  Federal
Regulations. The proceeds of any Loans will not be used for “buying,” “purchasing”
or “carrying” any “margin stock” in violation of (within the respective
meanings of each of the quoted terms under) Regulation U of the Board of
Governors of the Federal Reserve System as now and from time to time hereafter
in effect or for any purpose which violates the provisions of the Regulations
of such Board of Governors.

 

3.8.  Investment
Company Act. Such Borrower is not an “investment company”, or a company “controlled”
by an “investment company”, within the meaning of the Investment Company Act of
1940, as amended.

 

3.9.  ERISA.
Such Borrower and its Subsidiaries are in compliance with all material
provisions of ERISA (to the extent applicable to it), except to the extent that
all failures to be in compliance could not, in the aggregate, reasonably be
expected to have a Material Adverse Effect.

 

3.10.  No
Material Misstatements. No report, financial statement or other written
information furnished by or on behalf of such Borrower to the Agent or any
Lender pursuant to subsection 3.1 or subsection 5.1(a) contains or will contain
any material misstatement of fact or omits or will omit to state any material
fact necessary to make the statements therein, in light of the circumstances
under which they were, are or will be made, not misleading, except to the
extent that the facts (whether misstated or omitted) do not result in a
Material Adverse Effect.

 

3.11.  Solvency.
As of the date hereof, the Company is, individually and together with its
Subsidiaries, Solvent.

 

3.12.  Purpose
of Loans. The proceeds of the Loans shall be used by such Borrower (a) to
retire the Company’s Existing Indebtedness (other than Surviving Indebtedness),
(b) to pay costs and expenses incurred in connection therewith and with the
Acquisition and (c) for its general corporate purposes. Notwithstanding the
foregoing, and for the avoidance of doubt, no Loan made to any Borrower
incorporated under the laws of Ireland may be used by such Borrower (whether
directly or indirectly) for the purpose of, or in connection with, a purchase
or subscription made or to be made by any Person of or for any shares of such
Borrower or of its direct or indirect holding company, or for any other purpose
whatsoever that would constitute “unlawful financial assistance” within the
meaning of Section 60 (as amended) of the Companies Act, 1963 of Ireland.

 

60

 

SECTION 4.  CONDITIONS PRECEDENT

 

4.1.  Conditions
to Initial Loans. The agreement of each Lender to make the initial Loan or
Loans and the obligation of each Issuing Bank to issue a Letter of Credit
requested to be made or issued by it is subject to the satisfaction, prior to
or concurrently with the making of such Loan or Loans or the issuance of such
Letter of Credit, of the following conditions precedent:

 

(a)  Credit
Agreement. The Agent shall have received this Agreement, executed and
delivered (including, without limitation, by way of a telecopied signature page
or a signature page in electronic format acceptable to the Agent) by a duly
authorized officer of the Company, each other Borrower as of the Closing Date
and each Lender.

 

(b)  Guaranty.
The Agent shall have received the Guaranty, executed and delivered (including,
without limitation, by way of a telecopied signature page) by each Guarantor
listed on Schedule III.

 

(c)  Secretary’s
Certificate. The Agent shall have received a certificate of the Secretary
or Assistant Secretary (or equivalent officer) of each Borrower, in form and
substance satisfactory to the Agent, which certificate shall (i) certify
as to the incumbency and signature of the officers of such Borrower executing
this Agreement (with the President, a Vice President, the Secretary or
Assistant Secretary (or equivalent officer) of such Borrower attesting to the
incumbency and signature of the Secretary or Assistant Secretary providing such
certificate), (ii) have attached to it a true, complete and correct copy of
each of the certificate of incorporation or formation (or equivalent document,
if any, in the case of any foreign Designated Borrower) and by-laws or limited
liability company agreement (or equivalent document, if any, in the case of any
foreign Designated Borrower) of such Borrower, (iii) have attached to it a true
and correct copy of the resolutions of the Board of Directors (or other
governing body or Person(s) as appropriate) of such Borrower, which resolutions
shall authorize the execution, delivery and performance of this Agreement and
the Borrowings by such Borrower hereunder and (iv) certify that, as of the date
of such certificate (which shall not be earlier than the date hereof), none of
such certificate of incorporation or formation (or equivalent document, if any,
in the case of any foreign Designated Borrower), by-laws or limited liability
company agreement (or equivalent document, if any, in the case of any foreign Designated
Borrower) or resolutions shall have been amended, supplemented, modified,
revoked or rescinded.

 

(d)  Fees.
The Company shall have paid all fees required to be paid pursuant to the terms
of the Fee Letter.

 

(e)  Legal
Opinions. The Agent shall have received (i) the executed legal opinion of Lionel Sawyer
& Collins, Nevada counsel to
the Company, substantially in the form of Exhibit H-1, (ii) the executed legal
opinion of Simpson, Thacher & Bartlett LLP, counsel to the Company,
substantially in the form of Exhibit H-2, (iii) executed legal opinions of
local counsel in each of Canada, Ireland and Japan as to the matters set forth
on Exhibit H-3 and such other matters concerning the Company or Designated
Borrowers and the Loan Documents as the Agent or Lenders may reasonably request
and (iv) such other executed legal opinions of local counsel in the
jurisdiction of organization of each Designated Borrower as the Arrangers may
reasonably request, substantially in the form of Exhibit H-4. The Company hereby
instructs Lionel Sawyer & Collins
and Simpson, Thacher & Bartlett LLP to deliver their opinions for the
benefit of the Agent and each of the Lenders.

 

61

 

(f)  Debt
Ratings. The Company shall have received long-term senior unsecured debt
ratings for the Facilities and the Bridge Facility of not less than BBB- from
S&P, Baa3 from Moody’s and BBB- from Fitch, in each case with at least
stable outlook.

 

(g)  Consummation
of Acquisition. The Acquisition shall have been consummated in accordance
with the terms of the Purchase Agreement, without any amendment or modification
that is material to the interests of the Lenders and to which any two Arrangers
have reasonably objected.

 

(h)  Bridge
Facility. The Bridge Facility shall have been consummated.

 

(i)  Issuance
of Hybrid Capital. The Hybrid Capital shall have been issued to GMAC.

 

(j)  Payment
of Existing Indebtedness. The Agent shall be satisfied that all Existing
Indebtedness, other than Surviving Indebtedness, has been prepaid, redeemed or
defeased in full or otherwise satisfied and extinguished and all commitments
relating thereto terminated.

 

The Agent shall notify the Company and each Lender
promptly after the satisfaction of the foregoing conditions.

 

4.2.  Conditions
to Each Credit Event. The agreement of each Lender to make any Loan
requested to be made by it on any date (including, without limitation, its
initial Loan) or of any Issuing Bank to issue a Letter of Credit is subject to
the satisfaction of the following conditions:

 

(a)  Notice
of Borrowing. The Agent shall have received a notice of borrowing or
request for issuance, as the case may be, as required by subsection 2.3, 2.4,
2.5 or 2.6, as the case may be and the Yen Swing Line Lender shall have
received a notice of borrowing or request for a Loan, as the case may be, as
required by subsection 2.7, if applicable.

 

(b)  Representations
and Warranties. Each of the representations and warranties made by the
Borrowers in or pursuant to this Agreement, excluding, for each Loan made after
the Closing Date, the representations and warranties in subsection 3.2 herein,
shall be true and correct on and as of such date as if made on and as of such
date, other than any such representations or warranties that, by their terms,
refer to a specific date other than the date of the proposed Borrowing or
issuance of a Letter of Credit, as the case may be, in which case as of such
specific date.

 

(c)  No
Default. No Default or Event of Default shall have occurred and be
continuing on such date or after giving effect to the Loans or Letter of Credit
requested to be made or issued on such date.

 

(d)  Designated
Borrowers. If the applicable Borrower or applicant is a Designated Borrower
so designated after the Closing Date, then the conditions of subsection 2.8 to
the designation of such Borrower as a Designated Borrower shall have been met
to the satisfaction of the Agent.

 

Each Borrowing by any
Borrower hereunder and each request for the issuance of a Letter of Credit hereunder
shall, in each case, constitute a representation and warranty by the Borrowers
as of the date of such Loan that the conditions contained in this subsection
4.2 have been satisfied.

 

62

 

SECTION 5.  AFFIRMATIVE COVENANTS

 

The Borrowers hereby agree that, so long as the
Commitments remain in effect, or any amount is owing to any Lender or the Agent
hereunder or any Letter of Credit is outstanding, the Company and, except in
the case of subsections 5.1, 5.2, and 5.12 below, each other Borrower shall:

 

5.1.  Financial
Statements. Furnish
to each Lender:

 

(a)  as
soon as available, but in any event within 110 days after the end of each
fiscal year of the Company, a copy of the audited consolidated balance sheet of
the Company and its consolidated Subsidiaries as at the end of such year and
the related audited consolidated statements of income and retained earnings and
of cash flows for such year, setting forth in each case in comparative form the
figures for the previous year; and

 

(b)  as
soon as available, but in any event not later than 60 days after the end of
each of the first three quarterly periods of each fiscal year of the Company,
the unaudited consolidated balance sheet of the Company and its consolidated
Subsidiaries as at the end of such quarter and the related unaudited
consolidated statements of income and retained earnings and of cash flows of
the Company and its consolidated Subsidiaries for such quarter and the portion
of the fiscal year through the end of such quarter, setting forth in each case
in comparative form the figures for the previous year;

 

all such financial
statements shall be complete and correct in all material respects and shall be
prepared in accordance with GAAP (it being understood that in the event of any
change in GAAP or in the interpretation or application thereof, any financial
statement delivered hereunder prior to such change shall be deemed to have been
prepared in accordance with GAAP for purposes of and in accordance with the
requirements of this Agreement so long as such financial statements were
prepared in accordance with GAAP as in effect on the date such financial
statements were delivered and in accordance with the historical application
thereof by the Company, without giving effect to any changes thereto or in the
interpretation or application thereof after such date) applied consistently
throughout the periods reflected therein and with prior periods (except as
approved by such accountants or officer, as the case may be, and disclosed
therein).

 

5.2.  Certificates;
Other Information.
Furnish to:

 

(a)  each
Lender, concurrently with the delivery of the financial statements referred to
in subsection 5.1(a), a certificate of PricewaterhouseCoopers LLP or other independent certified public
accountants of nationally recognized standing stating that, in making the
examination necessary therefor, nothing came to their attention that caused
them to believe that the Company was, as at the date at which such financial statements
were made, in breach of subsection 6.1;

 

(b)  each
Lender, concurrently with the delivery of the financial statements referred to
in subsections 5.1(a) and 5.1(b), a certificate of the chief financial officer
of the Company (i) stating that, to the best of the chief financial officer’s
knowledge, (A) such financial statements present fairly the financial condition
and results of operations of the Company and its Subsidiaries for the period
referred to therein (subject, in the case of interim statements, to normal
year-end audit adjustments), and (B) during such period each Borrower has
performed all of its covenants and other agreements contained in this Agreement
to be performed by it, and that no Default or Event of Default has occurred,
except as specified in such certificate and (ii) setting forth in reasonable
detail the calculations required to establish whether the Company was in
compliance with the provisions of subsection 6.1 on the date of such financial
statements; and

 

63

 

(c)  each
Lender, within 30 days after the same become public, copies of all financial
statements and reports which the Company may make to, or file with, the
Securities and Exchange Commission or any successor or analogous Governmental
Authority; provided, that such financial statements and reports shall be
deemed delivered to each Lender upon filing with the Securities and Exchange
Commission.

 

5.3.  Notices.
Promptly give notice to the Agent and each Lender (it being understood that
such a notice given by any Borrower under this subsection 5.3 shall satisfy the
requirements of this subsection as to all Borrowers) of the occurrence of any
Default or Event of Default, accompanied by a statement of a Financial Officer
setting forth details of the occurrence referred to therein and stating what
action the Company or such other Borrower proposes to take with respect
thereto.

 

5.4.  Conduct
of Business and Maintenance of Existence. Continue to engage in its
principal line of business as now conducted by it and preserve, renew and keep
in full force and effect its corporate existence and take all reasonable action
to maintain all rights, privileges and franchises necessary or desirable in the
normal conduct of its principal line of business except as otherwise permitted
pursuant to subsection 6.2 or to the extent that failure to do so would not
have a Material Adverse Effect.

 

5.5.  Compliance
with Laws, Etc.Comply, and cause each of its Subsidiaries to comply with
all applicable laws, rules, regulations and orders (including as to
environmental matters), such compliance to include, without limitation,
compliance with ERISA, except in each case to the extent that failure to do so
would not have a Material Adverse Effect.

 

5.6.  Payment
of Taxes, Etc.Except
to the extent that failure to do so would not have a Material Adverse Effect,
pay and discharge, and cause each of its Subsidiaries to pay and discharge,
before the same shall become delinquent, all taxes, assessments and
governmental charges or levies imposed upon it or upon its property; provided,
however, that neither the Company nor any of its Subsidiaries shall be
required to pay or discharge any such tax, assessment, charge or claim that is
being contested in good faith and by proper proceedings and as to which
appropriate reserves are being maintained.

 

5.7.  Visitation
Rights. Once per calendar year (or, during the continuance of an Event of
Default, at any reasonable time and from time to time), permit the Agent or any
agents or representatives thereof to examine and make copies of and abstracts
from the records and books of account of, and visit the properties of, the
Company and any of its Subsidiaries, and to discuss the affairs, finances and
accounts of the Company and any of its Subsidiaries with any of their officers
or directors and with their independent certified public accountants.

 

5.8.  Keeping
of Books. Keep, and cause each of its Subsidiaries to keep, proper books of
record and account, in which full and correct entries shall be made of all
financial transactions and the assets and business of such Borrower and each
such Subsidiary in accordance with generally accepted accounting principles in
effect from time to time, except to the extent that failure to do so would not
have a Material Adverse Effect.

 

5.9.  Maintenance
of Properties, Etc. Except to the extent that failure to do so would not
have a Material Adverse Effect, maintain and preserve, and cause each of its
Subsidiaries to maintain and preserve, all of its properties that are used or
useful in the conduct of its business in good working order and condition,
ordinary wear and tear excepted.

 

5.10.  Maintenance
of Insurance. Except to the extent that failure to do so would not have a
Material Adverse Effect, maintain, and cause each of its Subsidiaries to
maintain, insurance with

 

64

 

responsible and reputable
insurance companies or associations in such amounts and covering such risks as
is usually carried by companies engaged in similar businesses and owning
similar properties in the same general areas in which such Borrower or such
Subsidiary operates.

 

5.11.  Transactions
with Affiliates. Conduct, and cause each of its Subsidiaries to conduct,
all transactions otherwise permitted under this Agreement with any of their
Affiliates (other than the Company or any Subsidiary of the Company) on terms
that are fair and reasonable and no less favorable to such Borrower or such
Subsidiary than it would obtain in a comparable arm’s-length transaction with a
Person not an Affiliate; provided that the foregoing restrictions shall
not apply to (a) the payment of customary annual fees to any Equity Investor
and/or its Affiliates for management, consulting and financial services
rendered to the Company and its Subsidiaries; (b) customary investment banking
fees paid to any Equity Investor and/or its Affiliates for services rendered to
the Company and its Subsidiaries in connection with divestitures, acquisitions,
financings and other transactions; (c) customary fees paid to members of the
board of directors of the Company and its Subsidiaries and (d) dividends and
restricted payments not prohibited by this Agreement.

 

5.12.  Covenant
to Guaranty Obligations. Upon the formation or acquisition of any new
wholly owned, first-tier or second-tier Subsidiaries (other than any Excluded
Subsidiary or Permitted Receivables Subsidiary) by the Company, then in each
case the Company shall (at the Company’s expense), within 30 days after such formation
or acquisition (or, if an Event of Default shall have occurred and be
continuing, as promptly as practicable after such formation or acquisition),
cause each such Subsidiary to duly execute and deliver to the Agent a guaranty
or guaranty supplement, in form and substance reasonably satisfactory to the
Agent, guaranteeing the Company’s obligations under the Loan Documents.

 

SECTION 6.  NEGATIVE COVENANTS

 

The Borrowers hereby agree that, so long as the
Commitments remain in effect or any amount is owing to any Lender or the Agent
hereunder or any Letter of Credit is outstanding, the Company shall not,
directly or indirectly:

 

6.1.  Leverage
Ratio. Permit the ratio of Total Consolidated Indebtedness at the last day
of any fiscal quarter of the Company to Total Capitalization at such date to be
greater than 0.87 to 1.0, in
each case without giving effect to ARB51, FIN 46(R) or FAS 66 in each case in
relation to the Company’s affordable tax credit syndication business.

 

6.2.  Merger,
Consolidation, etc. Merge or consolidate with any other Person or sell or
convey all or substantially all of its assets to any Person unless, (a) in the
case of sales or conveyances of all or substantially all of the assets of any
Designated Borrower, either prior to or after giving effect to such sale or
conveyance, and the use of proceeds thereof, such Designated Borrower shall (x)
not owe any amounts to any Lender or the Agent hereunder, (y) not have any
Letter of Credit for its account outstanding hereunder and (z) have ceased
to be a Designated Borrower pursuant to subsection 2.8(d) and (b) in the
case of mergers and consolidations, (x) the Company shall be the continuing
corporation and (y) immediately before and immediately after giving effect to
such merger or consolidation, no Default or Event of Default shall have
occurred and be continuing; provided, however, that nothing
contained in this Agreement shall be deemed to prevent or prohibit the
conversion of the Company into a Delaware or Nevada limited liability company,
by means of merger or otherwise, so long as (x) no Default or Event of Default
shall have occurred and be continuing and (y) the surviving limited liability
company shall expressly assume the obligations of the Company under this
Agreement and the other Loan Documents to which it is a party and agree to be
bound by all other provisions applicable to the Company under this Agreement
and such other Loan Documents.

 

65

 

6.3.  Limitation
on Liens. Pledge or otherwise subject to any Lien any of its property or
assets, or permit any Designated Borrower or Guarantor to pledge or otherwise
subject to any Lien any of its property or assets, unless all principal,
interest, fees and other obligations owing under or in connection with this
Agreement are secured by such pledge or Lien equally and ratably with any and
all other obligations and indebtedness secured thereby so long as any such
other obligations and indebtedness shall be so secured; provided, however,
that this covenant shall not apply in the case of:

 

(a)  Liens
in favor of any Borrower or Guarantor;

 

(b)  any
deposit of assets of any Borrower or Guarantor with any surety company or clerk
of any court, or escrow, as collateral in connection with, or in lieu of, any
bond on appeal by such Borrower or Guarantor from any judgment or decree
against it, or in connection with other proceedings in actions at law or in
equity by or against such Borrower or Guarantor;

 

(c)  any
Lien or charge on any property, tangible or intangible, real or personal,
existing at the time of acquisition of such property (including acquisition
through merger or consolidation) or given to secure the payment of all or any
part of the purchase price thereof or to secure any indebtedness incurred prior
to, at the time of, or within 60 days after, the acquisition thereof for the
purpose of financing all or any part of the purchase price thereof;

 

(d)  Liens
on property or assets financed through tax exempt municipal obligations in
connection with municipal mortgage trusts;

 

(e)  any
extension, renewal or replacement (or successive extensions, renewals or
replacements), in whole or in part, of any Lien, charge or pledge referred
to in clauses (a) to (d) of this subsection 6.3; provided
that the amount of any and all obligations and indebtedness secured thereby
shall not exceed the amount thereof so secured immediately prior to the time of
such extension, renewal or replacement;

 

(f)  Liens
evidencing the sale, securitization, syndication or financing of (i) any real
estate receivables and mortgage notes and related security in connection with
Permitted Receivables Financings, in each case so long as such Liens extend
solely to the assets being sold, securitized or syndicated thereunder or (ii)
any assets that (A) fall within any Specified Asset Category or (B) are owned
by any Specified Subsidiary; and

 

(g)  Liens
securing Indebtedness of the Borrowers and the Guarantors in an aggregate
amount not to exceed 20% of the difference of consolidated shareholders’ equity
of the Company and its Subsidiaries minus Attributed Equity.

 

To
the extent that the creation, incurrence or assumption of any Lien could be
attributable to more than one of the foregoing exceptions, the applicable
Borrower may allocate such Lien to any one or more of such subsections.

 

6.4.  Indebtedness.
Permit any of its Subsidiaries (other than any Specified Subsidiary and any
Designated Borrower) that are not Guarantors to create, incur, assume or suffer
to exist, any Indebtedness, except:

 

(a)  Indebtedness
secured by Liens permitted by subsections 6.3(c), 6.3(d) and 6.3(e),

 

(b)  capitalized
leases,

 

66

 

(c)  the Surviving
Indebtedness, and any Indebtedness extending the maturity of, or refunding,
replacing or refinancing, in whole or in part, any Surviving Indebtedness; provided
that the terms of any such extending, refunding or refinancing Indebtedness,
and of any agreement entered into and of any instrument issued in connection
therewith, are otherwise permitted by the Loan Documents; provided  further
that the principal amount of such Surviving Indebtedness shall not be increased
above the principal amount thereof outstanding immediately prior to such
extension, refunding or refinancing, and the direct and contingent obligors
therefor shall not be changed, as a result of or in connection with such
extension, refunding or refinancing,

 

(d)  Indebtedness
in respect of Hedge Agreements designed to hedge against fluctuations in
interest rates or foreign exchange rates incurred in the ordinary course of
business and consistent with prudent business practice,

 

(e)  Indebtedness
owed to the Company or a wholly-owned Subsidiary of the Company, which
Indebtedness, if secured, shall be otherwise permitted under the provisions of
subsection 6.3,

 

(f)  Indebtedness
of any Person that becomes a Subsidiary of the Company after the Closing Date,
which Indebtedness is existing at the time such Person becomes a Subsidiary of
the Company (other than Indebtedness incurred solely in contemplation of such
Person becoming a Subsidiary of the Company),

 

(g)  (i)  Indebtedness in an amount not to exceed the
amount of Attributed Indebtedness deducted in determining Total Consolidated
Indebtedness to the extent of any corresponding deduction of Attributed
Capitalization from Total Capitalization, in each case for purposes of
determining compliance with subsection 6.1 and (ii) any other Indebtedness
secured by Liens permitted by subsection 6.3(f), and

 

(h)    other Indebtedness in an aggregate amount
not to exceed an amount equal to 30% of the difference of consolidated
shareholders’ equity of the Company and its Subsidiaries minus
Attributed Equity.

 

To
the extent that the creation, incurrence or assumption of any Indebtedness
could be attributable to more than one of the foregoing exceptions, the
applicable Borrower may allocate such Indebtedness to any one or more of such
subsections and in no event shall the same portion of such Indebtedness be
deemed to utilize or be attributable to more than one such subsection.

 

SECTION 7.  EVENTS OF DEFAULT

 

7.1.  Events
of Default. If any of the following events shall occur and be continuing:

 

(a)  Any
Borrower shall (i) fail to pay any principal of any Loan made to it when due in
accordance with the terms hereof or (ii) fail to pay any interest on any Loan
made to it or any other amount which is payable hereunder and (in the case of
this clause (ii) only) such failure shall continue unremedied for more than
five Business Days after written notice thereof has been given to the Company
by the Agent or the Majority Lenders; or

 

(b)  Any
representation or warranty made or deemed made by the Company in Section 3
or any certified statement furnished pursuant to subsection 5.2(b) shall prove
to have been materially incorrect on or as of the date made or deemed made or
certified; or

 

(c)  The
Company shall default in the observance of the agreement contained in
subsection 6.1; or

 

67

 

(d)  Any
Borrower shall default in the observance or performance of any other agreement
applicable to it contained in this Agreement (other than as provided in
paragraphs (a), (b) and (c) of this Section 7), and such default shall
continue unremedied for a period of 30 days after written notice thereof shall
have been given to the Company by the Agent or the Majority Lenders; or

 

(e)  The
Company or any of its Subsidiaries (other than any Bankruptcy Remote Special
Purpose Entity) shall default in any payment of $50,000,000 or more (in the
case of any single payment) or $100,000,000 or more (in the case of all such
defaulted payments in the aggregate) of principal of or interest on any
Indebtedness or in the payment of $50,000,000 or more (in the case of any
single payment) or $100,000,000 or more (in the case of all such defaulted
payments in the aggregate)  on account of
any Guarantee in respect of Indebtedness, and such default shall be continuing
beyond the period of grace, if any, provided in the instrument or agreement
under which such Indebtedness or Guarantee was created; or

 

(f)  (i)  Any
Borrower or any Guarantor shall commence any case, proceeding or other action
(A) under any existing or future law of any jurisdiction, domestic or
foreign, relating to bankruptcy, insolvency, reorganization or relief of
debtors, seeking to have an order for relief entered with respect to it, or
seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization,
arrangement, adjustment, winding-up, liquidation, dissolution, composition or
other relief with respect to it or its debts, or (B) seeking appointment of a
receiver, trustee, custodian, conservator or other similar official for it or
for all or any substantial part of its assets, or any Borrower or any Guarantor
shall make a general assignment for the benefit of its creditors; or (ii) there
shall be commenced against any Borrower or any Guarantor any case, proceeding
or other action of a nature referred to in clause (i) above which (A)
results in the entry of an order for relief or any such adjudication or
appointment or (B) remains undismissed, undischarged or unbonded for a period
of 90 days; or (iii) there shall be commenced against any Borrower or any
Guarantor any case, proceeding or other action seeking issuance of a warrant of
attachment, execution, distraint or similar process against all or any
substantial part of its assets which results in the entry of an order for any
such relief which shall not have been vacated, discharged, or stayed or bonded
pending appeal within 90 days from the entry thereof; or

 

(g)  One
or more judgments or decrees shall (i) be entered against the Company or any of
its Subsidiaries (other than any Bankruptcy Remote Special Purpose Entity),
(ii) not have been vacated, discharged, satisfied, stayed or bonded pending
appeal within 60 days from the entry thereof and (iii) involve a liability (not
paid or fully covered by insurance) of either (A) $50,000,000 or more, in
the case of any single judgment or decree or (B) $100,000,000 or more in the
aggregate, in the case of all such judgments and decrees;

 

(h)  a
Change of Control shall occur; or

 

(i)  the
occurrence of any ERISA Event, the partial or complete withdrawal of the
Company or any of its ERISA Affiliates from a Multiemployer Plan and/or the
reorganization or termination of a Multiemployer Plan which could, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect;

 

then, and in any such event,
(A) if such event is an Event of Default specified in clause (i) or (ii) of
paragraph (f) above with respect to the Company, automatically the Commitments
shall immediately terminate and the Loans hereunder (with accrued interest
thereon) and all other amounts owing under this Agreement shall immediately become
due and payable, and (B) if such event is any other Event of Default, either or
both of the following actions may be taken: 
(i) with the consent of the Majority Lenders, the Agent may, or upon the
request of the Majority Lenders, the Agent shall, by notice to the

 

68

 

Company declare the
Commitments to be terminated forthwith, whereupon the Commitments shall
immediately terminate; and (ii) with the consent of the Majority Lenders, the
Agent may, or upon the request of the Majority Lenders, the Agent shall, by
notice to the Company, declare the Loans hereunder (with accrued interest
thereon) and all other amounts owing under this Agreement to be due and payable
forthwith, whereupon the same shall immediately become due and payable. Except
as expressly provided above in this Section 7, presentment, demand, protest and
all other notices of any kind are hereby expressly waived.

 

7.2.  Actions
in Respect of the Letters of Credit upon Default. If the Commitments have
been terminated and the Loans hereunder have been accelerated pursuant to
subsection 7.1, an amount equal to the aggregate Available Letter of Credit
Amount of all outstanding Letters of Credit issued for the account or at the
request of each Borrower shall be immediately due and payable to the Agent for
the account of the Lenders without notice to or demand upon the Borrowers,
which are expressly waived by each Borrower, to be held in the L/C Cash Deposit
Account, and the Borrowers shall forthwith pay to the Agent on behalf of the
Lenders in same day funds at the Agent’s office designated in such demand, for
deposit in the L/C Cash Deposit Account, an amount equal to the aggregate
Available Letter of Credit Amount of all Letters of Credit issued for the
account or at the request of such Borrower then outstanding. Upon the drawing
of any Letter of Credit, to the extent funds are on deposit in the L/C Cash
Deposit Account, such funds shall be applied to reimburse the Issuing Banks to
the extent permitted by applicable law. After all such Letters of Credit shall
have expired or been fully drawn upon and all other obligations of the
applicable Borrowers hereunder and under the Notes shall have been paid in
full, the balance, if any, in such L/C Cash Deposit Account shall be returned
to such Borrowers.

 

SECTION 8.  GUARANTEE

 

8.1.  Guarantee.
(a)    Guarantee.
The Company hereby guarantees, as primary obligor and not merely as surety, to
each Lender and the Agent and their respective successors and assigns the
prompt payment in full when due (whether at stated maturity, by acceleration or
otherwise) of the principal of and interest on the Borrowings made by the
Lenders to, and the Notes (if any) held by each Lender of, any Designated
Borrower and all other amounts from time to time owing to the Lenders or the
Agent by any Designated Borrower under this Agreement, the Notes or any of the
other Loan Documents, in each case strictly in accordance with the terms
thereof (such obligations being herein collectively called the “Guaranteed
Obligations”). The Company hereby further agrees that if any Designated
Borrower shall fail to pay in full when due (whether at stated maturity, by
acceleration or otherwise) any of the Guaranteed Obligations, the Company will
promptly pay the same, without any demand or notice whatsoever, and that in the
case of any extension of time of payment or renewal of any of the Guaranteed
Obligations, the same will be promptly paid in full when due (whether at
extended maturity, by acceleration or otherwise) in accordance with the terms
of such extension or renewal.

 

(b)  Obligations
Unconditional. The obligations of the Company under paragraph (a) of this
subsection 8.1 are absolute, unconditional and irrevocable, irrespective of the
value, genuineness, validity, regularity or enforceability of the obligations
of any Designated Borrower under this Agreement, the Notes or of the Loan
Documents or any other agreement or instrument referred to herein or therein,
or any substitution, release or exchange of any other guarantee of or security
for any of the Guaranteed Obligations, and, to the fullest extent permitted by
applicable law, irrespective of any other circumstance whatsoever which might
otherwise constitute a legal or equitable discharge or defense (other than a
defense of payment) of a surety or guarantor, it being the intent of this
subsection 8.1(b) that the obligations of the Company hereunder shall be
absolute and unconditional under any and all circumstances. Without limiting
the generality of the foregoing, it is agreed that the occurrence of any one or
more of the following shall not alter or impair the liability of the Company
hereunder which shall remain absolute and unconditional as described above:

 

69

 

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

 

(b)  any of the acts mentioned in any of the provisions of
this Agreement or the Notes or any Loan Document or any other agreement or
instrument referred to herein or therein shall be done or omitted;

 

(c)  the maturity of any of the Guaranteed Obligations shall
be accelerated, or any of the Guaranteed Obligations shall be increased or
shall be modified, supplemented or amended in any respect, or any right under
this Agreement or the Notes or any Loan Document or any other agreement or
instrument referred to herein or therein shall be waived or any other guarantee
of any of the Guaranteed Obligations or any security therefore shall be
released or exchanged in whole or in part or otherwise dealt with;

 

(d)  any beneficiary of the Guaranteed Obligations proceeding
against the Company without proceeding against any Designated Borrower or any
other party.

 

Subject
to paragraph (a) of this subsection 8.1, the Company hereby expressly waives
diligence, presentment, demand of payment, protest and all notices whatsoever,
and any requirement that the Agent or any Lender exhaust any right, power or
remedy or proceed against any Designated Borrower under this Agreement or the
Notes or any other Loan Documents or any other agreement or instrument referred
to herein or therein, or against any other Person under any other guarantee of,
or security for, any of the Guaranteed Obligations.

 

(c)  Reinstatement.
The obligations of the Company under this subsection 8.1 shall be automatically
reinstated if and to the extent that for any reason any payment by or on behalf
of any Designated Borrower in respect of the Guaranteed Obligations is
rescinded or must be otherwise restored by any holder of any of the Guaranteed
Obligations, whether as a result of any proceedings in bankruptcy or reorganization
or otherwise, and each Designated Borrower agrees that it will indemnify the
Agent, each Sub-Agent and each Lender on demand for all reasonable costs and
expenses (including, without limitation, fees of counsel) incurred by the Agent
or such Lender in connection with such rescission or restoration, including any
such costs and expenses incurred in defending against any claim alleging that
such payment constituted a preference, fraudulent transfer or similar payment
under any bankruptcy, insolvency or similar law.

 

(d)  Subrogation.
The Company hereby agrees that until the payment and satisfaction in full of
all Guaranteed Obligations and the expiration and termination of the
Commitments of the Lenders under this Agreement it shall not exercise any right
or remedy arising by reason of any performance by it of its guarantee in
subsection 8.1(a) hereof, whether by subrogation or otherwise, against the
Designated Borrower, any other guarantor of any of the Guaranteed Obligations
or any security for any of the Guaranteed Obligations.

 

(e)  Remedies.
The Company agrees that, as between the Company and the Lenders, the
obligations of the Designated Borrowers under this Agreement, the Notes and any
other Loan Document may be declared to be forthwith due and payable (or may
become automatically due and payable as provided in Article VII hereof for
purposes of subsection 8.1(a) hereof) notwithstanding any stay, injunction or
other prohibition preventing such declaration (or such obligations from
becoming automatically due and payable) as against the Designated Borrowers and
that, in the event of such declaration (or such obligations being deemed to
have become automatically due and payable), such

 

70

 

obligations (whether or not due and payable by the Designated Borrower)
shall forthwith become due and payable by the Company for purposes of said
subsection 8.1(a).

 

(f)  Continuing
Guarantee. The guarantee in this subsection 8.1 is a continuing guarantee
and shall apply to all Guaranteed Obligations whenever arising.

 

SECTION 9.  THE AGENT

 

9.1.  Appointment.
Each Lender hereby irrevocably designates and appoints Citibank as the Agent of
such Lender under this Agreement and the other Loan Documents, and each such
Lender irrevocably authorizes Citibank, as the Agent for such Lender, to take
such action on its behalf under the provisions of this Agreement and the other
Loan Documents and to exercise such powers and perform such duties as are
expressly delegated to the Agent by the terms of this Agreement and the other
Loan Documents, together with such other powers as are reasonably incidental
thereto. Notwithstanding any provision to the contrary elsewhere in this
Agreement, (a) the Agent shall not have any duties or responsibilities, except
those expressly set forth herein and in the other Loan Documents, (b) the
Syndication Agent, the Documentation Agents and the Arrangers shall not have
any duties or responsibilities in their capacities as such to the Lenders and
(c) none of the Agent, the Syndication Agent, any Documentation Agent or any
Arranger shall have any fiduciary relationship with any Lender, and no implied
covenants, functions, responsibilities, duties, obligations or liabilities
shall be read into this Agreement or any other Loan Document or otherwise exist
against the Agent, the Syndication Agent, any Documentation Agent or any
Arranger.

 

9.2.  Delegation
of Duties. The Agent may execute any of its duties under this Agreement and
the other Loan Documents by or through agents or attorneys-in-fact and shall be
entitled to advice of counsel concerning all matters pertaining to such duties.
The Agent shall not be responsible for the negligence or misconduct of any
agents or attorneys-in-fact selected by it with reasonable care.

 

9.3.  Exculpatory
Provisions. Neither the Agent nor any of its officers, directors, employees
or Affiliates shall be (i) liable for any action lawfully taken or omitted
to be taken by it or such Person under or in connection with this Agreement
(except for its or such Person’s own gross negligence or willful misconduct) or
(ii) responsible in any manner to any of the Lenders for any recitals,
statements, representations or warranties made by any Borrower or any officer
thereof contained in this Agreement or in any certificate, report, statement or
other document referred to or provided for in, or received by the Agent under
or in connection with, this Agreement or for the value, validity,
effectiveness, genuineness, enforceability or sufficiency of this Agreement or
any Loan Document or for any failure of any Borrower to perform its obligations
hereunder or thereunder. The Agent shall not be under any obligation to any
Lender to ascertain or to inquire as to the observance or performance of any of
the agreements contained in, or conditions of, this Agreement or any other Loan
Document, or to inspect the properties, books or records of any Borrower.

 

9.4.  Reliance
by Agent. The Agent shall be entitled to rely, and shall be fully protected
in relying, upon any writing, resolution, notice, consent, certificate,
affidavit, letter, telecopy, telex or teletype message, statement, order or
other document or conversation believed by it in good faith to be genuine and
correct and to have been signed, sent or made by the proper Person or Persons
and upon advice and statements of legal counsel (including, without limitation,
counsel to the Company), independent accountants and other experts selected by
the Agent. The Agent may deem and treat the Lender specified in the Register
with respect to any amount owing hereunder as the owner thereof for all
purposes unless a written notice of assignment, negotiation or transfer thereof
shall have been filed with the Agent. The Agent shall be fully justified in
failing or refusing to take any action under this Agreement unless it shall
first receive such advice or concurrence of the Majority Lenders as it deems

 

71

 

appropriate or it shall first
be indemnified to its satisfaction by the Lenders against any and all liability
and expense which may be incurred by it by reason of taking or continuing to
take any such action. The Agent shall in all cases be fully protected in
acting, or in refraining from acting, under this Agreement in accordance with a
request of the Majority Lenders (or, to the extent that this Agreement
expressly requires a higher percentage of Lenders, such higher percentage), and
such request and any action taken or failure to act pursuant thereto shall be
binding upon all the Lenders and all future holders of the obligations owing by
any Borrower hereunder.

 

9.5.  Notice
of Default. The Agent shall not be deemed to have knowledge or notice of
the occurrence of any Default or Event of Default hereunder unless the Agent
has received written notice from a Lender or any Borrower referring to this
Agreement, describing such Default or Event of Default and stating that such
notice is a “notice of default”. In the event that the Agent receives such a
notice, the Agent shall promptly notify the Borrowers (unless the Company or
applicable Borrower shall have delivered such notice to the Agent) and then
give notice thereof to the Lenders (provided that the failure to notify
the Borrowers shall not impair any of the rights of the Agent and the Lenders
with respect to the events and circumstances specified in such notice). The
Agent shall take such action with respect to such Default or Event of Default
as shall be reasonably directed by the Majority Lenders; provided that
unless and until the Agent shall have received such directions, the Agent may
(but shall not be obligated to) take such action, or refrain from taking such
action, with respect to such Default or Event of Default as it shall deem
advisable in the best interests of the Lenders.

 

9.6.  Non-Reliance
on Agent and Other Lenders. Each Lender expressly acknowledges that neither
the Agent nor any of its officers, directors, employees, agents,
attorneys-in-fact or Affiliates has made any representations or warranties to
it and that no act by the Agent hereinafter taken, including any review of the
affairs of any Borrower, shall be deemed to constitute any representation or
warranty by the Agent to any Lender. Each Lender represents to the Agent that
it has, independently and without reliance upon the Agent or any other Lender,
and based on such documents and information as it has deemed appropriate, made
its own appraisal of and investigation into the business, operations, property,
financial and other condition and creditworthiness of the Borrowers and made
its own decision to make its Loans hereunder and enter into this Agreement. Each
Lender also represents that it will, independently and without reliance upon
the Agent or any other Lender, and based on such documents and information as
it shall deem appropriate at the time, continue to make its own credit
analysis, appraisals and decisions in taking or not taking action under this
Agreement, and to make such investigation as it deems necessary to inform
itself as to the business, operations, property, financial and other condition
and creditworthiness of the Borrowers. Except for notices, reports and other
documents expressly required to be furnished to the Lenders by the Agent
hereunder, the Agent shall not have any duty or responsibility to provide any
Lender with any credit or other information concerning the business,
operations, property, condition (financial or otherwise), prospects or
creditworthiness of the Borrowers which may come into the possession of the
Agent or any of its officers, directors, employees, agents, attorneys-in-fact
or Affiliates.

 

9.7.  Indemnification.
The Lenders agree to indemnify the Agent and each Sub-Agent (in their
respective capacities as such, but only to the extent not reimbursed by the
Borrowers and without limiting the obligation of the Borrowers to do so),
ratably according to their respective Commitments in effect on the date on
which indemnification is sought under this subsection 9.7 (or, if
indemnification is sought after the date upon which the Commitments shall have
terminated and the Loans shall have been paid in full, ratably in accordance
with their Commitments immediately prior to such date of payment in full) but
giving effect to any subsequent assignments in accordance with subsection 10.7,
from and against any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any
kind whatsoever which may at any time (including, without limitation, at any time
following the payment of the amounts owing hereunder) be imposed on, incurred
by or asserted against the Agent or such Sub-Agent (as the case may be) in any
way relating to or arising out of

 

72

 

this Agreement or any documents
contemplated by or referred to herein or therein or the transactions
contemplated hereby or thereby or any action taken or omitted by the Agent or
any Sub-Agent under or in connection with any of the foregoing; provided
that no Lender shall be liable for the payment of any portion of such
liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements resulting from the gross negligence or
willful misconduct of the Agent or the relevant Sub-Agent (as the case may be).
The agreements in this subsection 9.7 shall survive the payment of the Loans
and all other amounts payable hereunder.

 

9.8.  Agent
in Its Individual Capacity. The Agent and its Affiliates may make loans to,
accept deposits from and generally engage in any kind of business with the
Borrowers as though the Agent were not the Agent hereunder. With respect to
Loans made or renewed by it, the Agent shall have the same rights and powers
under this Agreement as any Lender and may exercise the same as though it were
not the Agent, and the terms “Lender” and “Lenders” shall include the Agent in
its individual capacity.

 

9.9.  Successor
Agent. The Agent may resign as Agent upon 30 days’ notice to the Lenders
and the Borrowers and following the appointment of a successor Agent in
accordance with the provisions of this subsection 9.9. If the Agent shall
resign as Agent under this Agreement, then the Majority Lenders shall appoint
from among the Lenders willing to serve as Agent a successor agent for the
Lenders, which successor agent shall be approved by the Company (which approval
shall not be unreasonably withheld and shall not be required if an Event of
Default under subsection 7.1(a) or (f) has occurred and is continuing),
whereupon such successor agent shall succeed to the rights, powers and duties
of the Agent, and the term “Agent” shall mean such successor agent effective
upon such appointment and approval, and the former Agent’s rights, powers and
duties as Agent shall be terminated, without any other or further act or deed
on the part of such former Agent or any of the parties to this Agreement or any
holders of the obligations owing hereunder. After any retiring Agent’s
resignation as Agent, the provisions of this Section 9 shall inure to its
benefit as to any actions taken or omitted to be taken by it while it was Agent
under this Agreement.

 

9.10.  Sub-Agent.
Each Sub-Agent has been designated under this Agreement to carry out the duties
of the Agent. Each Sub-Agent shall be subject to each of the obligations in
this Agreement to be performed by such Sub-Agent, and each of the Borrowers and
the Lenders agrees that each Sub-Agent shall be entitled to exercise each of
the rights and shall be entitled to each of the benefits of the Agent under
this Agreement as they related to the performance of its obligations hereunder.
None of the Lenders or other Persons identified on the facing page or signature
pages of this Agreement as a “syndication agent,” “documentation agent,” “bookrunner,”
or “lead arranger” shall have any right, power, obligation, liability,
responsibility or duty under this Agreement other than to the extent expressly
set forth herein and, in the case of such Lenders, those applicable to all
Lenders as such. Without limiting the foregoing, none of the Lenders or other
Persons so identified shall have or be deemed to have any fiduciary
relationship with any Lender. Each Lender acknowledges that it has not relied,
and will not rely, on any of the Lenders or other Persons so identified in
deciding to enter into this Agreement or in taking or not taking action
hereunder.

 

SECTION 10.  MISCELLANEOUS

 

10.1.  Amendments
and Waivers. Neither this Agreement, nor any terms hereof may be amended,
supplemented or modified except in accordance with the provisions of this
subsection 10.1. The Majority Lenders may, or, with the written consent of the
Majority Lenders, the Agent may, from time to time, (a) enter into with the
Borrowers written amendments, supplements or modifications hereto for the
purpose of adding any provisions to this Agreement or the Guaranty or changing
in any manner the rights of the Lenders or of the Borrowers hereunder or
thereunder or (b) waive, on such terms and

 

73

 

conditions as the Majority
Lenders or the Agent, as the case may be, may specify in such instrument, any
of the requirements of this Agreement or any Default or Event of Default and
its consequences; provided, however, that (x) no such waiver and
no such amendment, supplement or modification shall, unless in writing and
signed by all of the Lenders (other than any Lender that is, at such time, a
defaulting Lender):

 

(i)  amend,
modify or waive the voting requirements of this subsection 10.1 or reduce the percentage
specified in the definition of Majority Lenders, or consent to the assignment
or transfer by any Borrower of any of its rights and obligations under this
Agreement, or

 

(ii)  
release one or more Guarantors (or otherwise limit the liability of one or more
Guarantors with respect to the obligations owing to the Agent and the Lenders
under the Guaranty) if such release or limitation is in respect of
substantially all of the value provided by all Guarantors under the Guaranty,
or

 

(iii)  permit
the sale of all or substantially all of the assets of the Company and its
Subsidiaries, taken as a whole, outside of the ordinary course of its business;

 

and (y) no such waiver and no such amendment,
supplement or modification shall, unless in writing and signed by the Lender or
Lenders specified below for such waiver, amendment, supplement or modification:

 

(i)  reduce
the principal amount of any Loan, or reduce the stated rate of any interest or
fee payable hereunder, or extend the scheduled date of any payment thereof, or
increase the amount or extend the expiration date of any Lender’s Commitment,
in each case without the consent of each Lender directly affected thereby, or

 

(ii)  amend, modify or waive any provision of this Agreement, in each case
governing the rights of the Lenders under any Facility in respect of the
Guaranty, the guarantee in Section 8 of this Agreement or any collateral that
may secure the obligations owing to such Lenders under this Agreement or the
Guaranty (including, for the avoidance of doubt, any amendment that would
provide for the addition of any such collateral), without the written consent
of Lenders holding a majority in interest of the obligations under such
Facility, if such amendment, modification or waiver materially adversely
affects the Lenders under such Facility in a manner that is disproportionate to
the effect of such amendment, modification or waiver on the Lenders under the
other Facilities, or

 

(iii)  amend, modify or waive any provision of this Agreement, in each case
governing the application of payments to the Lenders under any Facility,
without the written consent of Lenders holding a majority in interest of the
obligations under such Facility, if such amendment, modification or waiver
materially adversely affects the Lenders under such Facility in a manner that
is disproportionate to the effect of such amendment, modification or waiver on
the Lenders under the other Facilities, or

 

(iv)  amend,
modify or waive any provision of this Agreement, in each case governing the
rights of the Lenders under any Facility, without the written consent of
Lenders holding a majority in interest of the obligations under such Facility,
if such amendment, modification or waiver, or such provision, by its express
terms applies only to such Facility (or only to the Lenders thereunder) and if
such amendment, modification or waiver adversely affects the Lenders under such
Facility, or

 

74

 

(v)  amend,
modify or waive any provision of subsection 2.3 or any other provision of this
Agreement governing the rights or obligations of any Issuing Bank, without the
written consent of such Issuing Bank, or

 

(vi)  amend,
modify or waive any provision of subsection 2.6 or any other provision of this
Agreement governing the rights or obligations of any Swing Line Lender, without
the written consent of such Swing Line Lender, or

 

(vii)  amend,
modify or waive any provision of subsection 2.7 or any other provision of this
Agreement governing the rights or obligations of the Yen Swing Line Lender,
without the written consent of such Yen Swing Line Lender, or

 

(viii)  permit
any Borrower to request Borrowings in additional foreign currencies without the
consent of each Lender directly affected thereby, or

 

(ix)  amend,
modify or waive any provision of Section 9 or any other provision of this
Agreement governing the rights or obligations of the Agent without the written
consent of the then Agent.

 

Any such waiver and any such amendment, supplement
or modification shall apply equally to each of the Lenders and shall be binding
upon the Borrowers, the Lenders, the Agent and all future holders of the
obligations owing hereunder. In the case of any waiver, the Borrowers, the
Lenders and the Agent shall be restored to their former position and rights
hereunder, and any Default or Event of Default waived shall be deemed to be
cured and not continuing; but no such waiver shall extend to any subsequent or
other Default or Event of Default, or impair any right consequent thereon.

 

Notwithstanding anything to the contrary contained
in this subsection 10.1, with respect to any provision contained in this
Agreement relating to any Facility, the Agent, the Borrowers and a majority in
interest of the Applicable Lenders under such Facility shall be permitted to
amend such provision, without the consent of any other Lender, solely to the
extent reasonably necessary or advisable to (x) comply with applicable laws
relating to such Facility or (y) better implement the intentions of this
Agreement with respect to such Facility, and, in the case of any amendment made
pursuant to this clause (y), solely to the extent that such amendment does not
impair the rights, obligations or interests of any other Lender under this
Agreement in any material respect.

 

10.2.  Notices.
(a)    All notices, requests
and demands to or upon the respective parties hereto to be effective shall be
in writing (including by telecopy), and, unless otherwise expressly provided
herein, shall be deemed to have been duly given or made when delivered by hand,
or four days after being deposited in the mail, postage prepaid, or, in the
case of telecopy notice, when received, addressed as follows in the case of the
Company or any Borrower and the Agent, and as set forth in Schedule II in the
case of the other parties hereto, or to such other address as may be hereafter
notified by the respective parties hereto and any future holders of the
obligations owing hereunder:

 

	
  The
  Company:

  	
   

  	
  Capmark
  Financial Group Inc. 

  
	
   

  	
   

  	
  200
  Witmer Road 

  
	
   

  	
   

  	
  Horsham,
  PA 19044 

  
	
   

  	
   

  	
  Attention:

  	
  Marc
  Fox 

  
	
   

  	
   

  	
   

  	
  Wayne
  Hoch 

  
	
   

  	
   

  	
  Telecopy:

  	
  215-328-1515

  

 

75

 

	
   

  	
   

  	
  With
  a copy to:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Capmark
  Financial Group Inc. 

  
	
   

  	
   

  	
  200
  Witmer Road 

  
	
   

  	
   

  	
  Horsham,
  PA 19044 

  
	
   

  	
   

  	
  Attention:

  	
  General
  Counsel 

  
	
   

  	
   

  	
  Telecopy:

  	
  215-328-3620

  
	
   

  	
   

  	
   

  
	
  The
  Agent:

  	
   

  	
  Citibank,
  N.A. 

  
	
   

  	
   

  	
  2
  Penns Way, Suite 200 

  
	
   

  	
   

  	
  New
  Castle, DE  19720  

  
	
   

  	
   

  	
  Attention:

  	
  Dawayne
  Sims 

  
	
   

  	
   

  	
  Telecopy:

  	
  212-994-0961

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  With
  a copy to:  

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Citibank,
  N.A.  

  
	
   

  	
   

  	
  388
  Greenwich Street  

  
	
   

  	
   

  	
  New
  York, NY 10013  

  
	
   

  	
   

  	
  Attention:

  	
  Yoko
  Otani  

  
	
   

  	
   

  	
  Telecopy:

  	
  646-291-1727

  

 

provided that any notice, request or demand to or
upon the Agent, any Issuing Bank or the Lenders pursuant to subsections 2.3,
2.4, 2.5, 2.6, 2.7, 2.8, 2.9, 2.10 or 2.11 shall not be effective until
received.

 

(b)  So long as
Citibank or any of its Affiliates is the Agent, materials required to be
delivered pursuant to subsections 5.1, 5.2 and 5.3 may be delivered to the
Agent in an electronic medium in a format acceptable to the Agent and the
Lenders by e-mail at oploanswebadmin@citigroup.com (and delivery in such format
shall fully satisfy the delivery requirements of such subsections in respect
thereof). The Borrowers agree that the Agent may make such materials, as well
as any other written information, documents, instruments and other material
relating to the Borrowers, any of their Subsidiaries or any other materials or
matters relating to this Agreement, the Notes, the Guaranty or any of the
transactions contemplated hereby (collectively, the “Communications”)
available to the Lenders by posting such notices on Intralinks or a
substantially similar electronic system (the “Platform”). The Borrowers
acknowledges that (i) the distribution of material through an electronic medium
is not necessarily secure and that there are confidentiality and other risks
associated with such distribution, (ii) the Platform is provided “as is”
and “as available” and (iii) neither the Agent nor any of its Affiliates
warrants the accuracy, adequacy or completeness of the Communications or the
Platform and each expressly disclaims liability for errors or omissions in the
Communications or the Platform. No warranty of any kind, express, implied or
statutory, including, without limitation, any warranty of merchantability,
fitness for a particular purpose, non-infringement of third party rights or
freedom from viruses or other code defects, is made by the Agent or any of its
Affiliates in connection with the Platform.

 

(c)  Each Lender agrees that notice to it (as provided
in the next sentence) (a “Notice”) specifying that any Communications
have been posted to the Platform shall constitute effective delivery of such
information, documents or other materials to such Lender for purposes of this
Agreement; provided that if requested by any Lender the Agent shall
deliver a copy of the Communications to such Lender by email or telecopier. Each
Lender agrees (i) to notify the Agent in writing of such Lender’s e-mail
addresses to which a Notice may be sent by electronic transmission (including
by electronic communication) on or before the date such Lender becomes a party
to this Agreement (and from time to

 

76

 

time thereafter to ensure that the Agent has on
record at least one effective e-mail address for such Lender) and
(ii) that any Notice may be sent to such e-mail address.

 

10.3.  No
Waiver; Cumulative Remedies. No failure to exercise and no delay in
exercising, on the part of the Agent or any Lender, any right, remedy, power or
privilege hereunder shall operate as a waiver thereof; nor shall any single or
partial exercise of any right, remedy, power or privilege hereunder preclude
any other or further exercise thereof or the exercise of any other right, remedy,
power or privilege. The rights, remedies, powers and privileges herein provided
are cumulative and not exclusive of any rights, remedies, powers and privileges
provided by law.

 

10.4.  Survival
of Representations and Warranties. All representations and warranties made
hereunder and in any document, certificate or statement delivered pursuant
hereto or in connection herewith shall survive the execution and delivery of
this Agreement and the making of the Loans and issuances of Letters of Credit
hereunder.

 

10.5.  Payment
of Expenses and Taxes. The Company agrees (a) to pay or reimburse the Agent
for all its reasonable out-of-pocket costs and expenses reasonably incurred in
connection with the development, preparation and execution of, and any
amendment, supplement or modification to, this Agreement or any other Loan
Document and any other documents prepared in connection herewith or therewith,
and the consummation and administration of the transactions contemplated hereby
and thereby, including, without limitation, the reasonable fees and
disbursements of counsel to the Agent, (b) to pay or reimburse each Lender and
the Agent for all its reasonable costs and expenses reasonably incurred in
connection with the enforcement of any rights under this Agreement, including,
without limitation, the reasonable fees and disbursements of counsel to the
Agent and to the several Lenders (other than those incurred in connection with
the compliance by the relevant Lender with the provisions of subsection
2.23(a)), and (c) to pay, indemnify, and hold each Lender and the Agent
harmless from, any and all recording and filing fees and any and all
liabilities with respect to, or resulting from any delay by any Borrower in
paying, stamp, excise and other taxes, if any, which may be payable or
determined to be payable in connection with the execution and delivery of, or
consummation or administration of any of the transactions contemplated by, or
any amendment, supplement or modification of, or any waiver or consent under or
in respect of, this Agreement or any other Loan Document, and (d) to pay,
indemnify, and hold each Lender, each Arranger, the Syndication Agent, each
Documentation Agent, the Agent and each Sub-Agent harmless from and against any
and all other liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, costs, reasonable expenses or disbursements of any kind or
nature whatsoever with respect to the execution, delivery, enforcement,
performance and administration of this Agreement and the other Loan Documents
(all the foregoing in this clause (d), collectively, the “indemnified
liabilities”); provided that the Company shall have no obligation
hereunder to the Agent, the Syndication Agent, such Documentation Agent, such
Sub-Agent, such Arranger, or any Lender with respect to indemnified liabilities
arising from the gross negligence or willful misconduct of the Agent, such
Sub-Agent, the Syndication Agent, such Documentation Agent, such Arranger, or
any such Lender. The agreements in this subsection 10.5 shall survive repayment
of the Loans, expiration or other termination of the Letters of Credit and
payment of all other amounts payable hereunder.

 

10.6.  No
Liability of the Issuing Banks. The Borrowers assume all risks of the acts
or omissions of any beneficiary or transferee of any Letter of Credit with
respect to its use of such Letter of Credit. Neither an Issuing Bank nor any of
its officers or directors nor the Agent or any Lender shall be liable or
responsible for:  (a) the use that may be
made of any Letter of Credit or any acts or omissions of any beneficiary or
transferee in connection therewith; (b) the validity, sufficiency or
genuineness of documents, or of any endorsement thereon, even if such documents
should prove to be in any or all respects invalid, insufficient, fraudulent or
forged; (c) payment by such Issuing Bank against presentation of documents that
do not comply with the terms of a Letter of Credit, including failure of any
documents

 

77

 

to bear any reference or
adequate reference to the Letter of Credit; or (d) any other circumstances
whatsoever in making or failing to make payment under any Letter of Credit,
except that the applicable Borrower shall have a claim against such Issuing
Bank, and such Issuing Bank shall be liable to such Borrower, to the extent of
any direct, but not consequential, damages suffered by such Borrower that were
caused by such Issuing Bank’s willful misconduct or gross negligence. In
furtherance and not in limitation of the foregoing, such Issuing Bank may
accept documents that appear on their face to be in order, without
responsibility for further investigation, regardless of any notice or
information to the contrary; provided that nothing herein shall be deemed
to excuse such Issuing Bank if it acts with gross negligence or willful
misconduct in accepting such documents.

 

10.7.  Successors
and Assigns; Participations and Assignments. (a)  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 (i)
the Borrowers may not assign or otherwise transfer any of their rights or
obligations hereunder without the prior written consent of each Lender (and any
attempted assignment or transfer by any Borrower without such consent shall be
null and void) and (ii) no Lender may assign or otherwise transfer its rights
or obligations hereunder except in accordance with this subsection.

 

(b) (i)  Subject to the conditions set
forth in paragraph (b)(ii) below, any Lender may assign to one or more
assignees (each, an “Assignee”) all or a portion of its rights and
obligations under this Agreement (including all or a portion of its
Commitments, its Unissued Letter of Credit Commitment and the Loans at the time
owing to it under one or more Facilities) with the prior written consent (such
consent not to be unreasonably withheld) of:

 

(A)  the Company, provided that no consent of the
Company  shall be required for an assignment to
a Lender, an affiliate of a Lender, an Approved Fund (as defined below) or, if
an Event of Default under subsection 7.1(a) or (f) has occurred and is
continuing, any other Person;

 

(B)  the Agent, provided that no consent of the Agent
shall be required for an assignment to an Assignee that is an affiliate of such
assigning Lender; and

 

(C)  solely in the case of any assignment under the Letter of
Credit Facility, each Issuing Bank (such consent not to be unreasonably
withheld or delayed), provided that no consent of any Issuing Bank shall
be required for an assignment to an Assignee that is an affiliate of such
assigning Lender.

 

(ii)  Assignments
shall be subject to the following additional conditions:

 

(A)  except in the case of an assignment to a Lender, an
affiliate of a Lender or an Approved Fund or an assignment of the entire
remaining amount of the assigning Lender’s Commitments or Loans, the amount of
the Commitments or 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 Agent) shall be an amount equal
to $5,000,000 or a multiple of $1,000,000 in excess thereof unless each of the
Company and the Agent otherwise consent, provided that (1) no such
consent of the Company shall be required if an Event of Default under
subsection 7.1(a) or (f) has occurred and is continuing and (2) such amounts
shall be aggregated in respect of each Lender and its affiliates or Approved
Funds, if any;

 

(B)  the parties to each assignment shall execute and deliver
to the Agent an Assignment and Assumption substantially in the form of Exhibit
G, together with a processing and recordation fee of $3,500;

 

78

 

(C)  the Assignee, if it shall not be a Lender, shall deliver
to the Agent an administrative questionnaire; and

 

(D)  in the case of an assignment by any Lender to a CLO (as
defined below) administered or managed by such Lender or an affiliate of such
Lender, the assigning Lender shall retain the sole right to approve any
amendment, modification or waiver of any provision of this Agreement, provided
that the Assignment and Assumption between such Lender and such CLO may provide
that such Lender will not, without the consent of such CLO, agree to any
amendment, modification or waiver that (1) requires the consent of each Lender
directly affected thereby pursuant to the proviso to the second sentence of
subsection 10.1 and (2) directly affects such CLO.

 

For the purposes of this subsection 10.7, the terms “Approved
Fund” and “CLO” have the following meanings:

 

“Approved Fund”:  (a) a CLO and (b) with respect to any Lender
that is a fund which invests in bank loans and similar extensions of credit,
any other fund that invests in bank loans and similar extensions of credit and
is managed by the same investment advisor as such Lender or by an affiliate of
such investment advisor.

 

“CLO”:  any entity (whether a corporation,
partnership, trust or otherwise) that is engaged in making, purchasing, holding
or otherwise investing in bank loans and similar extensions of credit in the
ordinary course of its business and is administered or managed by a Lender or
an affiliate of such Lender.

 

(iii)  Subject to
acceptance and recording thereof pursuant to paragraph (b)(iv) below, from
and after the effective date specified in each Assignment and Assumption, the
Assignee thereunder shall be a party hereto 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 subsections 2.20,
2.21, 2.22 and 9.7); provided that no Assignee shall then be entitled to
receive any greater amount pursuant to subsections 2.19, 2.20, 2.21 or 2.22
than the assigning Lender would have been entitled to receive thereunder in
respect of the rights and obligations assigned by such assigning Lender to such
Assignee had no such assignment occurred. Any assignment or transfer by a
Lender of rights or obligations under this Agreement that does not comply with
this subsection 10.7 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 paragraph (c) of this subsection.

 

(iv)  The Agent,
acting for this purpose as an agent of the Borrowers, shall maintain at one of
its offices 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 amount of the Loans owing to, each Lender
pursuant to the terms hereof from time to time (the “Register”). The
entries in the Register shall be prima facie evidence of the existence and
amounts of the obligations of the Borrowers therein recorded, and the
Borrowers, the 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 Borrowers and any Lender, at
any reasonable time and from time to time upon reasonable prior notice. The
Agent shall provide a copy of the Register to the Borrowers on a monthly basis.

 

79

 

(v)  Upon its
receipt of a duly completed Assignment and Assumption executed by an assigning Lender
and an Assignee, the Assignee’s completed administrative questionnaire (unless
the Assignee shall already be a Lender hereunder), the processing and
recordation fee referred to in paragraph (b) of this subsection and any
written consent to such assignment required by paragraph (b) of this
subsection, the Agent shall accept such Assignment and Assumption and record
the information contained therein in the Register.

 

(c) (i) Any Lender may,
without the consent of the Borrowers or the Agent, sell participations to one
or more banks or other entities (a “Participant”) in all or a portion of
such Lender’s rights and obligations under this Agreement (including all or a
portion of its Commitments and the Loans owing to it); provided that
(A) such Lender’s obligations under this Agreement shall remain unchanged,
(B) such Lender shall remain solely responsible to the other parties
hereto for the performance of such obligations, (C) the Borrowers, the
Agent, any Sub-Agent and the other Lenders shall continue to deal solely and
directly with such Lender in connection with such Lender’s rights and
obligations under this Agreement and (D) such Lender shall have given prior
written notice to the Company and any other applicable Borrower of the identity
of such Participant. Any agreement 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 may
provide that such Lender will not, without the consent of the Participant,
agree to any amendment, modification or waiver that (1) requires the consent of
each Lender directly affected thereby pursuant to the proviso to the second
sentence of subsection 10.1 and (2) directly affects such Participant. Subject
to paragraph (c)(ii) of this subsection, the Borrowers agree that each
Participant shall be entitled to the benefits of subsections 2.19, 2.20, 2.21,
2.22 and 9.7 to the same extent as if it were a Lender and had acquired its
interest by assignment pursuant to paragraph (b) of this subsection.

 

(ii)  A Participant shall not be entitled to
receive any greater payment under subsection 2.19, 2.20, 2.21, 2.22 or 9.7 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 Company’s prior written consent. Any
Participant shall not be entitled to the benefits of subsection 2.21
except to the extent that it has complied with any applicable requirements of
such subsection.

 

(d)                                 Nothing herein shall prohibit any Lender from
pledging or assigning all or any portion of its Loans to any Federal Reserve Bank
in accordance with applicable law. In order to facilitate such pledge or
assignment, the Borrowers hereby agree that, upon request of any Lender at any
time and from time to time after such Borrower has made its initial Borrowing
hereunder, such Borrower shall provide to such Lender, at such Borrower’s own
expense, a promissory note, substantially in the form of Exhibit I evidencing
the Revolving Credit Loans, Term Loans and/or Canadian Revolving Credit
Borrowings (other than BAs) owing by such Borrower to such Lender (a “Note”).
Each Lender agrees that any Note requested from a Borrower incorporated in
Ireland shall not be valid and binding on such Borrower unless it is properly
stamped with the appropriate rate of stamp duty, and such stamp is duly cancelled,
prior to execution by such Borrower.

 

(e)                                  On or prior to the effective date of an
assignment, the assigning Lender shall surrender any outstanding Notes held by
it all or a portion of which are being assigned, and the applicable Borrower
shall, upon the request to the Agent made at the time of such assignment by the
assigning Lender or the Assignee, as applicable, execute and deliver to the
Agent (in exchange for the outstanding Notes of the assigning Lender) a new
Note to the order of such Assignee in an amount equal to the amount of such
Assignee’s Loan and, if applicable, a new Note to the order of the assigning
Lender in an amount equal to the Loan retained by such Lender. Any such new
Notes shall be dated the Closing Date

 

80

 

and shall otherwise be in the form of the Note replaced thereby. Any
Notes surrendered by the assigning Lender shall be returned by the Agent to the
applicable Borrower marked “cancelled.”

 

(f)                                    Notwithstanding the foregoing, any Conduit
Lender may assign any or all of the Loans it may have funded hereunder to its
designating Lender without the consent of any Borrower or the Agent and without
regard to the limitations set forth in subsection 10.7(b); provided,
that no Conduit Lender shall be entitled to receive any greater amount pursuant
to subsections 2.19, 2.20, 2.21, 2.22 or 9.7 than the designating Lender would
have been entitled to receive in respect of the extensions of credit made by
such Conduit Lender. In addition, any Conduit Lender may disclose, on a
confidential basis, the existence and terms of the Loans it has funded to any
rating agency, commercial paper dealer or provider of any surety, guarantee or
credit or liquidity enhancements to such Conduit Lender; provided that
no such Person shall receive any confidential financial information with
respect to any Borrower unless such Person has complied with subsection 10.7(g)
as if such Person were a Transferee. Each of the Borrowers, the Lenders and the
Agent hereby confirms that it will not institute against a Conduit Lender or
join any other Person in instituting against a Conduit Lender any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceeding under any
state bankruptcy or similar law, for one year and one day after the payment in
full of the latest maturing commercial paper note issued by such Conduit
Lender; provided, however, that each Lender designating any
Conduit Lender hereby agrees to indemnify, save and hold harmless each other
party hereto for any loss, cost, damage or expense (including legal expenses)
arising out of its designation of a Conduit Lender, including but without
limitations to, inability to institute such a proceeding against such Conduit
Lender during such period of forbearance.

 

(g)                                 Each Borrower authorizes each Lender to
disclose to any prospective Participant, any Participant, any prospective
Assignee or any Assignee (each, a “Transferee”) any and all financial
information in such Lender’s possession concerning such Borrower and its
Affiliates which has been delivered to such Lender by or on behalf of such
Borrower pursuant to this Agreement or which has been delivered to all Lenders
by or on behalf of such Borrower in connection with their respective credit
evaluations of such Borrower and its Affiliates prior to becoming a party to
this Agreement; provided that (i) such Transferee has executed and
delivered to such Borrower a written confidentiality agreement substantially in
the form of that which has been executed and delivered by each Lender prior to
the date hereof and (ii) in the case of any information other than that
contained in the Confidential Information Memorandum, dated November 2005,
such Borrower has been informed of the identity of such Transferee and has consented
(such consent shall not be unreasonably withheld) to the disclosure of such
information thereto. Nothing contained in this subsection 10.7(g) shall be
deemed to prohibit the delivery to any Transferee of any financial information
which is otherwise publicly available.

 

(h)                                 If at any time, any Lender becomes a
Non-Consenting Lender, then any applicable Borrower may, at its sole cost and
expense, on five Business Days’ prior written notice to the Agent and such
Lender, replace such Lender by causing such Lender to (and such Lender shall be
obligated to) assign pursuant to this subsection 10.7 all of its rights and
obligations under this Agreement to one or more Eligible Assignees; provided
that neither the Agent nor any Lender shall have any obligation to such
Borrower to find a replacement Lender or other such Person; provided, further,
that such Non-Consenting Lender shall be entitled to receive the full
outstanding principal amount of Loans so assigned, together with accrued
interest and fees payable in respect of such Loans and all other amounts then
owed and payable to it under the Loan Documents as of the date of such
assignment.

 

(i)                                     Notwithstanding anything to the contrary
contained in this Agreement, participating interests in, and rights and obligations
with respect to, Canadian Revolving Credit Loans and Canadian Revolving Credit
Commitments may be granted or assigned only to Schedule I Banks, Schedule II
Banks, Schedule III Banks or a Person established under the laws of Canada or
any province or

 

81

 

territory thereof that is authorized to carry on
business in Canada pursuant to Part XII of the Bank Act (Canada).

 

10.8.  Adjustments.
If any Lender under any Facility (a “Benefitted Lender”) shall at
any time receive any payment of all or part of its Loans under such Facility,
or interest thereon, or receive any collateral in respect thereof (whether
voluntarily or involuntarily, by set-off, pursuant to events or proceedings of
the nature referred to in subsection 7.1(f), or otherwise), such that it has
received aggregate payments or collateral on account of its Loans under such
Facility in a greater proportion than any such payment to or collateral
received by any other Lender under such Facility, if any, in respect of such
other Lender’s Loans under such Facility which are then due and payable, or
interest thereon, such Benefitted Lender shall purchase for cash from the other
Lenders a participating interest in such portion of each such other Lender’s
Loans under such Facility, or shall provide such other Lenders with the
benefits of any such collateral, or the proceeds thereof, as shall be necessary
to cause such Benefitted Lender to share the excess payment or benefits of such
collateral or proceeds ratably with each of the Lenders under such Facility; provided,
however, that if all or any portion of such excess payment or benefits
is thereafter recovered from such Benefitted Lender, such purchase shall be
rescinded, and the purchase price and benefits returned, to the extent of such
recovery, but without interest; provided, further, that to the
extent that any Benefitted Lender receives any payment of all or part of its
Loans from any Borrower that owes amounts to such Benefitted Lender under more than
one Facility, or interest thereon, or receives any collateral in respect
thereof (whether voluntarily or involuntarily, by set-off, pursuant to events
or proceedings of the nature referred to in subsection 7.1(f), or otherwise),
any such amount shall be deemed to have been received by such Benefitted Lender
to ratably repay amounts owing to such Benefitted Lender under each such
Facility.

 

10.9.  Counterparts.
(a)  This Agreement may be executed by one or more of the parties to
this Agreement on any number of separate counterparts (including by telecopy),
and all of said counterparts taken together shall be deemed to constitute one
and the same instrument. A set of the copies of this Agreement signed by all
the parties shall be lodged with the Company and the Agent.

 

(b)  By its
signature hereto, each Lender hereby agrees that this Agreement shall become
effective immediately upon the execution and delivery by the Borrowers and the
Agent of this Agreement. In the event that this Agreement has not been duly
executed and delivered by each Person listed on the signature pages hereto
(other than the Borrowers and the Agent, with respect to which the execution
and delivery of this Agreement shall be a condition precedent to its
effectiveness) on the date upon which this Agreement becomes effective in
accordance with the immediately preceding sentence, this Agreement shall
nevertheless become effective with respect to those Persons who have executed
and delivered it on or before such effective date and those Persons who have
not executed and delivered it (such Persons, the “Non-Executing Banks”)
shall be deemed not to be Lenders hereunder.

 

(c)  On the date
of effectiveness of this Agreement, the Company may (after consultation with
the Agent) designate one or more Lenders (the “Designated Lenders”) to
assume the Commitments which would have been held by the Non-Executing Banks
and, if the Designated Lenders agree to assume such Commitments, (i) Schedules
I and II shall be deemed to be amended to reflect such increase in the
respective Commitment of each Designated Lender and the omission of each
Non-Executing Bank as a Lender hereunder and (ii) the respective Commitment of
each Designated Lender shall be deemed to be such increased amount for all
purposes hereunder.

 

(d)  Notwithstanding
anything to the contrary contained herein, the Commitment of a Lender shall not
be increased (without the prior written consent of such Lender) as a result of
the failure of any other Person to execute and deliver this Agreement or
otherwise.

 

82

 

10.10.  Judgment.
(a)    If for the purposes of
obtaining judgment in any court it is necessary to convert a sum due hereunder
in Dollars into another currency, the parties hereto agree, to the fullest
extent that they may effectively do so, that the rate of exchange used shall be
that at which in accordance with normal banking procedures the Agent could
purchase Dollars with such other currency at Citibank’s principal office in
London at 11:00 A.M. (London time) on the Business Day preceding that on which
final judgment is given.

 

(b)  If for the
purposes of obtaining judgment in any court it is necessary to convert a sum
due hereunder in another currency into Dollars, the parties agree to the
fullest extent that they may effectively do so, that the rate of exchange used
shall be that at which in accordance with normal banking procedures the Agent
could purchase such other currency with Dollars at Citibank’s principal office
in London at 11:00 A.M. (London time) on the Business Day preceding that on
which final judgment is given.

 

(c)  The
obligation of each Borrower in respect of any sum due from it in any currency
(the “Primary Currency”) to any Lender, Issuing Bank, Sub-Agent or the
Agent hereunder shall, notwithstanding any judgment in any other currency, be
discharged only to the extent that on the Business Day following receipt by
such Lender, Issuing Bank, Sub-Agent or the Agent (as the case may be), of any
sum adjudged to be so due in such other currency, such Lender, Issuing Bank,
Sub-Agent or the Agent (as the case may be) may in accordance with normal
banking procedures purchase the applicable Primary Currency with such other
currency; if the amount of the applicable Primary Currency so purchased is less
than such sum due to such Lender, Issuing Bank, Sub-Agent or the Agent (as the
case may be) in the applicable Primary Currency, such Borrower agrees, as a
separate obligation and notwithstanding any such judgment, to indemnify such
Lender, Issuing Bank, Sub-Agent or the Agent (as the case may be) against such
loss, and if the amount of the applicable Primary Currency so purchased exceeds
such sum due to any Lender, Issuing, Sub-Agent or the Agent (as the case may
be) in the applicable Primary Currency, such Lender, Issuing Bank, Sub-Agent or
the Agent (as the case may be) agrees to remit to the such Borrower such
excess.

 

10.11.  Substitution
of Currency. If a change in any Available Foreign Currency occurs pursuant
to any applicable law, rule or regulation of any governmental, monetary or
multi-national authority, this Agreement (including, without limitation, the
definitions of Eurocurrency Rate and EURIBO Rate) will be amended to the extent
determined by the Agent and the Borrowers (each acting reasonably) to be
necessary to reflect the change in currency and to put the Lenders and the
Borrowers in the same position, so far as possible, that they would have been
in if no change in such Available Foreign Currency had occurred.

 

10.12.  Intentionally
Omitted.

 

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

 

10.14.  GOVERNING LAW. THIS AGREEMENT AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED
BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF
NEW YORK.

 

83

 

10.15.  USA
PATRIOT Act.  Each Lender hereby notifies each Borrower that pursuant
to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed
into law October 26, 2001)) (the “Patriot Act”), it is required to
obtain, verify and record information that identifies such Borrower, which
information includes the name and address of such Borrower and other
information that will allow such Lender to identify such Borrower in accordance
with the Patriot Act.  Each Borrower shall promptly provide such
information upon request by any Lender.

 

10.16.  WAIVER
OF JURY TRIAL. EACH OF THE LOAN PARTIES, THE AGENT AND THE LENDERS
IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR
COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR
RELATING TO ANY OF THE LOAN DOCUMENTS, THE BORROWINGS, THE LETTERS OF CREDIT OR
THE ACTIONS OF ANY AGENT OR ANY LENDER IN THE NEGOTIATION, ADMINISTRATION,
PERFORMANCE OR ENFORCEMENT THEREOF.

 

84

 

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

 

	
   

  	
  CAPMARK FINANCIAL GROUP INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Mindy Riddle

  
	
   

  	
   

  	
  Name:
  Mindy Riddle

  
	
   

  	
   

  	
  Title:
  Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Taxpayer
  ID:

  	
  91-1902188

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GMAC COMMERCIAL MORTGAGE OF

  
	
   

  	
  CANADA, LIMITED, as a Designated Borrower

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert D. Feller

  
	
   

  	
   

  	
  Name: Robert D. Feller

  
	
   

  	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Taxpayer ID:

  	
  350516-2 (Federal Corporation)/

  	
   

  
	
   

  	
   

  	
  1330853 (Ontario Corporation)

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GMAC COMMERCIAL MORTGAGE BANK

  
	
   

  	
  EUROPE, PUBLIC LIMITED COMPANY, as a

  
	
   

  	
  Designated Borrower

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Peter Kearney

  	
   

  
	
   

  	
   

  	
  Name: Peter Kearney

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
  Irish Registration Number:

  	
  315344

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GMAC COMMERCIAL MORTGAGE (IRELAND),

  
	
   

  	
  LIMITED, as a Designated Borrower

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Peter Kearney

  
	
   

  	
   

  	
  Name: Peter Kearney

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
  Irish Registration Number:

  	
  320282

  
								

 

 

	
   

  	
  GMAC COMMERCIAL MORTGAGE

  
	
   

  	
  INVESTMENT LIMITED, as a Designated

  	
   

  
	
   

  	
  Borrower

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Donal Courtney

  	
   

  
	
   

  	
   

  	
  Name: Donal Courtney

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
  Irish Registration Number:

  	
  348345

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GMACCM ASSET-BACKED NO. 2 LIMITED, as

  
	
   

  	
  a Designated Borrower

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Donal Courtney

  	
   

  
	
   

  	
   

  	
  Name: Donal Courtney

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  	
   

  
	
   

  	
  Irish Registration Number:

  	
  400239

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GMAC COMMERCIAL MORTGAGE

  
	
   

  	
  CORPORATION, as a Designated Borrower

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Wayne Hoch

  	
   

  
	
   

  	
   

  	
  Name: Wayne Hoch

  
	
   

  	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  Taxpayer ID:

  	
  23-2413444

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SJM CAP, LLC, as a Designated Borrower

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John F. Weaver

  	
   

  
	
   

  	
   

  	
  Name: John F. Weaver

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  Taxpayer ID:

  	
  56-2380862

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GMAC COMMERCIAL MORTGAGE BANK, as a

  
	
   

  	
  Designated Borrower

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Cheri Landgren

  	
   

  
	
   

  	
   

  	
  Name: Cheri Landgren

  
	
   

  	
   

  	
  Title: Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  Taxpayer ID:

  	
  41-2073504

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GMAC COMMERCIAL MORTGAGE FUNDING

  
	
   

  	
  ASIA, K., as a Designated Borrower

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ D. Steven Lin

  	
   

  
	
   

  	
   

  	
  Name: D. Steven Lin

  
	
   

  	
   

  	
  Title: Representative Director

  
	
   

  	
   

  	
   

  
	
   

  	
  Japanese Registration Number:

  	
  0104-01-057323

  
								

 

 

	
   

  	
   

  
	
   

  	
  GMAC COMMERCIAL MORTGAGE JAPAN,

  
	
   

  	
  K.K, as a Designated Borrower

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ D. Steven Lin

  	
   

  
	
   

  	
   

  	
  Name: D. Steven Lin

  
	
   

  	
   

  	
  Title: Representative
  Director

  
	
   

  	
   

  
	
   

  	
  Japanese Registration Number:

  	
  0104-01-057372

  
	
   

  	
   

  
	
   

  	
  CITIBANK,
  N.A.,

  
	
   

  	
   as
  Administrative Agent and a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Yoko Otani

  	
   

  
	
   

  	
   

  	
  Name: Yoko Otani

  
	
   

  	
   

  	
  Title: Managing Director

  
	
   

  	
   

  
	
   

  	
  CITIBANK,
  N.A., CANADIAN BRANCH, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Nlyousha Zarinpour

  	
   

  
	
   

  	
   

  	
  Name: Nlyousha Zarinpour

  
	
   

  	
   

  	
  Title: Authorized Signer

  
	
   

  	
   

  
	
   

  	
  Citibank,
  N.A. Tokyo Branch as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Yoshiyuki Hijikats

  	
   

  
	
   

  	
   

  	
  Name: Yoshiyuki Hijikats

  
	
   

  	
   

  	
  Title: Vice President and
  Director

  
	
   

  	
   

  
	
   

  	
  JPMorgan
  Chase Bank, N.A., as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Elisabeth H.
  Schwabe

  	
   

  
	
   

  	
   

  	
  Name: Elisabeth H.
  Schwabe

  
	
   

  	
   

  	
  Title: Managing Director
  JPMorgan Chase Bank

  
	
   

  	
   

  
	
   

  	
  CREDIT
  SUISSE, CAYMAN ISLANDS BRANCH,

  
	
   

  	
  as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David Dodd

  	
   

  
	
   

  	
   

  	
  Name: David Dodd

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mikhail Faybusovich

  	
   

  
	
   

  	
   

  	
  Name: Mikhail Faybusovich

  
	
   

  	
   

  	
  Title: Associate

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CREDIT
  SUISSE, TORONTO BRANCH, as a

  
	
   

  	
  Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Alain Daoust

  	
   

  
	
   

  	
   

  	
  Name: Alain Daoust

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Bruce F. Wetherly

  	
   

  
	
   

  	
   

  	
  Name: Bruce F. Wetherly

  
	
   

  	
   

  	
  Title: Director Credit
  Suisse, Toronto Branch

  
	
   

  	
   

  	
   

  
					

 

 

 

	
   

  	
   

  
	
   

  	
  DEUTSCHE
  BANK AG NEW YORK BRANCH,

  
	
   

  	
  as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Lapham

  	
   

  
	
   

  	
   

  	
  Name: Steven Lapham

  
	
   

  	
   

  	
  Title: Managing Director

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Linda Wang

  	
   

  
	
   

  	
   

  	
  Name: Linda Wang

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  	
   

  
	
   

  	
  DEUTSCHE
  BANK AG CANADA BRANCH,

  
	
   

  	
  as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert Johnston

  	
   

  
	
   

  	
   

  	
  Name: Robert Johnston

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Paul Jurist

  	
   

  
	
   

  	
   

  	
  Name: Paul Jurist

  
	
   

  	
   

  	
  Title: Managing Director
  and Principal Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Goldman
  Sachs Credit Partners LP

  	
  , as a
  Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William W. Archer

  	
   

  
	
   

  	
   

  	
  Name: William W. Archer

  
	
   

  	
   

  	
  Title: Managing Director

  
	
   

  	
   

  
	
   

  	
  Goldman Sachs Canada Credit Partners Co.

  	
  , as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stefano Zuliani

  	
   

  
	
   

  	
   

  	
  Name: Stefano Zuliani

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  Goldman
  Sachs Mortgage Company

  	
  , as a
  Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Leo Huang

  	
   

  
	
   

  	
   

  	
  Name: Leo Huang

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  
							

 

 

 

	
   

  	
  The Royal
  Bank of Scotland plc, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Maria Merrill

  	
   

  
	
   

  	
   

  	
  Name: Maria Merrill

  
	
   

  	
   

  	
  Title: Managing Director

  
	
   

  	
   

  
	
   

  	
  SUMITOMO
  MITSUI BANKING

  
	
   

  	
  CORPORATION,
  as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Yoshihiro Hyakutome

  	
   

  
	
   

  	
   

  	
  Name: Yoshihiro Hyakutome

  
	
   

  	
   

  	
  Title: Joint General
  Manager

  
	
   

  	
   

  
	
   

  	
  Wachovia
  Bank, National Association, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joan Anderson

  	
   

  
	
   

  	
   

  	
  Name: Joan Anderson

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
  THE BANK OF
  TOKYO-MITSUBISHI UFJ,

  
	
   

  	
  LTD., NEW YORK BRANCH, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Ossolinski

  	
   

  
	
   

  	
   

  	
  Name: Karen Ossolinski

  
	
   

  	
   

  	
  Title: Authorized
  Signatory

  
	
   

  	
   

  
	
   

  	
  The Bank of
  Tokyo-Mitsubishi UFJ, Ltd., as Yen

  
	
   

  	
  Swing Line Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Yusake Katsuta

  	
   

  
	
   

  	
   

  	
  Name: Yusake Katsuta

  
	
   

  	
   

  	
  Title: Chief Manager

  
	
   

  	
   

  	
   

  
	
   

  	
  Royal Bank
  of Canada, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Howard Lee

  	
   

  
	
   

  	
   

  	
  Name: Howard Lee

  
	
   

  	
   

  	
  Title: Authorized
  Signatory

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Condon

  	
   

  
	
   

  	
   

  	
  Name: Karen Condon

  
	
   

  	
   

  	
  Title: Authorized
  Signatory

  
	
   

  	
   

  

 

 

 

	
   

  	
  WestLB AG,
  NY Branch, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John H. Moorhead

  	
   

  
	
   

  	
   

  	
  Name: John H. Moorhead

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Pui Chow

  	
   

  
	
   

  	
   

  	
  Name: Pui Chow

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
  WestLB AG,
  Toronto Branch, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Alik Kassner

  	
   

  
	
   

  	
   

  	
  Name: Alik Kassner

  
	
   

  	
   

  	
  Title: Executive Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert Dyck

  	
   

  
	
   

  	
   

  	
  Name: Robert Dyck

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
  Bank of
  America, N.A., as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William E. Livingstone

  	
   

  
	
   

  	
   

  	
  Name: William E.
  Livingstone

  
	
   

  	
   

  	
  Title: Senior Vice
  President

  
	
   

  	
   

  
	
   

  	
  Bank of
  America, N.A.

  
	
   

  	
  (Canada
  Branch)               ,
  as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Medina Sales De
  Andrade

  	
   

  
	
   

  	
   

  	
  Name: Medina Sales De
  Andrade

  
	
   

  	
   

  	
  Title: Assistant Vice
  President

  
	
   

  	
   

  

 

 

	
   

  	
  SCOTIABANC
  INC, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William E. Zarrett

  	
   

  
	
   

  	
   

  	
  Name: William E. Zarrett

  
	
   

  	
   

  	
  Title: Managing Director

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Bank of
  Nova Scotia, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Todd Meller

  	
   

  
	
   

  	
   

  	
  Name: Todd Meller

  
	
   

  	
   

  	
  Title: Managing Director

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  IXIS
  Corporate and Investment Bank, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jean Paul OUDET

  	
   

  
	
   

  	
   

  	
  Name: Jean Paul OUDET

  
	
   

  	
   

  	
  Title: Head of Structured
  Finance & Credit Markets

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  LEHMAN
  BROTHERS HOLDINGS INC.,

  
	
   

  	
  as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Gregory L. Smith

  	
   

  
	
   

  	
   

  	
  Name: Gregory L. Smith

  
	
   

  	
   

  	
  Title: Managing Director

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MORGAN
  STANLEY BANK, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Daniel Twenge

  	
   

  
	
   

  	
   

  	
  Name: Daniel Twenge

  
	
   

  	
   

  	
  Title: Vice President
  Morgan Stanley Bank

  
	
   

  	
   

  	
   

  
	
   

  	
  Shinsei
  Bank, Limited, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Masayoshi Asano

  	
   

  
	
   

  	
   

  	
  Name: Masayoshi Asano

  
	
   

  	
   

  	
  Title: General Manager

  
	
   

  	
   

  
	
   

  	
  Fifth Third
  Bank, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Marie Magnin

  	
   

  
	
   

  	
   

  	
  Name: Marie Magnin

  
	
   

  	
   

  	
  Title: Assistant Vice
  President, Canadian Branch

  
	
   

  	
   

  
	
   

  	
  LaSalle Bank
  National Association, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas Mills

  	
   

  
	
   

  	
   

  	
  Name: Thomas Mills

  
	
   

  	
   

  	
  Title: AVP

  
	
   

  	
   

  
	
   

  	
  SOCIETE
  GENERALE, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Ambrish Thanawala

  	
   

  
	
   

  	
   

  	
  Name: Ambrish Thanawala

  
	
   

  	
   

  	
  Title: Managing DirectorExhibit 10.2

 

AMENDMENT NO. 1 TO THE CREDIT
AGREEMENT

 

Dated as of April 17, 2007

 

AMENDMENT
NO. 1 TO THE CREDIT AGREEMENT (this “Amendment”) among Capmark Financial Group Inc., a Nevada
corporation (the “Company”), certain subsidiaries of the Company (together
with the Company, the “Borrowers” and, each a “Borrower”), the
financial institutions and other institutional lenders party hereto, and
Citibank, N.A., as administrative agent (the “Agent”) for the Lenders.

 

RECITALS:

 

(1)           The
Borrowers, the financial institutions and other institutional lenders party
thereto (the “Lenders”), the Agent and the other agents party thereto
have entered into a credit agreement dated as of March 23, 2006 (as amended,
supplemented or otherwise modified, the “Credit Agreement”). Capitalized
terms not otherwise defined in this Amendment have the same meanings as
specified in the Credit Agreement.

 

(2)           The
Borrower has requested that the Lenders agree to amend certain provisions of
the Credit Agreement as described herein for the purpose of adding (a) a swing
line facility to the Irish Revolving Credit Facility, (b) availability of
Revolving Credit Loans denominated in Dollars, Euros and Pounds Sterling under
the Canadian Revolving Credit Facility in respect of Canadian Revolving Credit
Borrowers that are domiciled in Canada and (c) availability of Yen Swing Line
Commitments to additional Yen Swing Line Lenders.

 

(3)           Pursuant
to subsection 10.1(a) of the Credit Agreement, the Majority Lenders may, or,
with the written consent of the Majority Lenders, the Agent may, from time to
time, enter into with the Borrowers, written amendments, supplements or
modifications to the Credit Agreement for the purpose of adding any provisions
to the Credit Agreement or changing in any manner the rights of the Lenders or
of the Borrowers under the Credit Agreement.

 

(4)           Pursuant
to subsection 10.1, proviso (y)(iv) of the Credit Agreement, the written
consent of the Lenders holding a majority in interest of the obligations under
a Facility is required with respect to an amendment, modification or waiver of
any provision of the Credit Agreement that, by its express terms, applies only
to such Facility (or only to the Lenders thereunder) and if such amendment,
modification or waiver adversely affects the Lenders under such Facility.

 

(5)           Pursuant
to subsection 10.1, proviso (y)(vii) of the Credit Agreement, the written
consent of the Yen Swing Line Lender is required with respect to an amendment,
modification or waiver of any provision of the Credit Agreement governing the
rights or obligations of the Yen Swing Line Lender.

 

(6)           Pursuant
to subsection 10.1, proviso (y)(viii) of the Credit Agreement, the addition of
Borrowings under the Canadian Revolving Credit Facility in additional foreign
currencies requires the consent of each Lender affected thereby.

 

(7)           The
Agent, the Majority Lenders, the Irish Revolving Credit Lenders holding a
majority in interest of the obligations under the Irish Revolving Credit
Facility, the Canadian Revolving Credit Lenders and the Yen Swing Line Lender
have each agreed, subject to the terms and conditions stated below, to amend
the Credit Agreement as hereinafter set forth.

 

 

SECTION 1.           AMENDMENTS
TO CREDIT AGREEMENT

 

(a)           Subsection 1.1 of the Credit
Agreement is hereby amended by inserting the following new terms in the correct
alphabetical order:

 

“Applicable Irish Swing Line Rate”: (i)
in the case of Irish Swing Line Loans that are made to Irish Revolving Credit Borrowers that are US Borrowers
and that are denominated in Dollars, the Federal Funds Rate (as determined by
the Agent from time to time) or (ii) in the case of Irish Swing Line Loans that
are made (A) to Irish Revolving Credit Borrowers that are US Borrowers and that
are denominated in Euros or Pounds Sterling or (B) to Irish Revolving Credit
Borrowers that are not US Borrowers, the Eurocurrency Reference Rate with
respect to Dollars, Euros or Pounds Sterling, as applicable; plus,
in each case, the Applicable Margin then in effect for Eurocurrency Loans.

 

“BTMU”:
The Bank of Tokyo-Mitsubishi UFJ, Ltd.

 

“Designated
Account”: each deposit account specified in subsection 2.7 or such other
deposit account as may be designated as a “Designated Account” from time to
time in accordance with subsection 2.7, in each case in respect of which a Yen
Overdraft Swing Line Lender has a Yen Overdraft Swing Line Commitment.

 

“Eurocurrency
Reference Rate” means, for any day, (i) in the case of Irish Swing Line
Loans denominated in Euros, the rate per annum which is the average of the
rates quoted at approximately 11:00 A.M., London time, to leading banks in the
European interbank market by the Reference Lenders for the offering of
overnight deposits in Euros, (ii) in the case of Irish Swing Line Loans
denominated in Pounds Sterling, the London interbank offered rate (as reflected
on the applicable Telerate Screen) for overnight deposits of Pounds Sterling on
such day and (iii) in the case of Irish Swing Line Loans denominated in
Dollars, the London interbank offered rate (as reflected on the applicable
Telerate Screen) for overnight deposits of Dollars on such day; in each case
for
an amount comparable to the amount of such Irish Swing Line Loan to be
outstanding. In the event that the Agent determines (which determination shall
be conclusive absent manifest error) that adequate and reasonable means do not
exist for ascertaining the applicable overnight rates described in clauses
(i)-(iii) above, then, upon notice by the Agent to the applicable Borrower and
the applicable Lenders, and until the Agent notifies the applicable Borrower
and the applicable Lenders that the circumstances giving rise to such
determination no longer exist, the Eurocurrency Reference Rate shall be the
rate per annum which is the average of the rates quoted at approximately 11:00
A.M., London time, to leading banks in the European interbank market by the
applicable Swing Line Lenders for the offering of overnight deposits in
Dollars, Pounds Sterling or Euros, as applicable, for an amount comparable to
the amount of such Swing Line Loan to be outstanding.

 

“Irish Swing Line Applicable Time”: (i)
in the case of Irish Swing Line Loans made to Irish Revolving Credit Borrowers that are US Borrowers and that
are denominated in Dollars, 1:00 P.M., New York City time, (ii) in the case of
Irish Swing Line Loans made to Irish Revolving Credit Borrowers that are US
Borrowers and that are denominated in Euros or Pounds Sterling, 11:00 A.M.,
London time or (iii) in the case of Irish Swing Line Loans made to Irish
Revolving Credit Borrowers that are not US Borrowers, 11:00 A.M., London time.

 

2

 

“Irish Swing Line Borrowing”: a group of
Irish Swing Line Loans made by the Irish Swing Line Lenders on a single date.

 

“Irish Swing Line Commitment”:  with respect to each Irish Swing Line Lender,
the obligation of such Irish Swing Line Lender to make Irish Swing Line Loans
pursuant to subsection 2.25 in the amount referred to therein.

 

“Irish Swing Line Facility”: an initial
amount of $300,000,000  (or the
Equivalent in Euros or Pounds Sterling, as the case may be) or, at any time,
the aggregate amount of the Irish Swing Line Lenders’ Irish Swing Line
Commitments at such time.

 

“Irish Swing Line Lenders”: each Lender which
has an Irish Swing Line Commitment.

 

“Irish Swing Line Loan Participation Certificate”:
a certificate, substantially in the form of Exhibit N.

 

“Irish Swing Line Loans”:  as defined in subsection 2.25(a).

 

“Refunded Irish Swing Line Loans”: as defined
in subsection 2.25(c).

 

“Yen Overdraft Swing Line Lenders”: each Yen
Swing Line Lender which has a Yen Overdraft Swing Line Commitment.

 

“Yen Swing Line Rate”: the Yen Call Rate plus
the Applicable Margin then in effect for Eurocurrency Loans.

 

“Yen Call Rate”: means, for any day, either
(i) the unsecured overnight call volume-weighted average rate on overnight
funds announced at the close of business on that day by the Tanshi Kyokai
(Interbank Brokers’ Association) or, if the Tanshi Kyokai has not announced
such an interest rate on that day, the average of the quotations of the
overnight funds call rate of three (3) Tanshi brokers obtained by the Agent on
such day, or (ii) the appropriate rate on Telerate Markets page 9791 or 9792,
as the Agent determines.

 

(b)           Subsection 1.1 of the Credit
Agreement is hereby further amended as follows:

 

(i)            amending the definition of “Base
Rate” by inserting the following immediately before the period at the end
thereof:

 

“provided that, in the case of Base Rate
Loans made to a Canadian Revolving Credit Borrower that is domiciled in Canada,
“Base Rate” shall mean a fluctuating interest rate per annum in effect from
time to time, which rate per annum shall at all times be equal to the higher
of, (a) the rate of interest established by Citibank from time to time and in
effect as its base rate at its principal office in Toronto, Ontario for
determining interest rates on U.S. Dollar-denominated commercial loans made by
it in Canada and (b) 1/2 of one percent per annum above the Federal Funds Rate.

 

3

 

(ii)           amending the definition of “Borrowing”
by inserting “, an Irish Swing Line Borrowing” immediately following “a Swing
Line Borrowing” and preceding “or a Yen Swing Line Borrowing”;

 

(iii)          amending clause (a)(ii)(y) of the
definition of “Business Day” by inserting “(and, if such Base Rate Loan is made
to a Canadian Revolving Credit Borrower that is domiciled in Canada, Toronto,
Canada)” immediately following “New York City” and preceding “and (b)”.

 

(iv)          deleting the definition of “Canadian
Revolving Credit Borrower” in its entirety and replacing it with the following:

 

“Canadian
Revolving Credit Borrower” (a) in the case of Eurocurrency Loans and Base
Rate Loans under the Canadian Revolving Credit Facility, each US Borrower and
each Designated Borrower listed on Part A of Schedule 2.8 and each Subsidiary
of the Company organized under the laws of Canada or a jurisdiction thereof
that becomes a Designated Borrower under the Canadian Revolving Credit Facility
pursuant to subsection 2.8 after the Closing Date and (b) in the case of
Canadian Prime Rate Loans and Bankers’ Acceptances, each Designated Borrower
listed on Part A of Schedule 2.8 and each Subsidiary of the Company organized
under the laws of Canada or a jurisdiction thereof that becomes a Designated
Borrower under the Canadian Revolving Credit Facility pursuant to subsection
2.8 after the Closing Date.”;

 

(v)           amending the definition of “Commitment”
by inserting “, an Irish Swing Line Commitment” immediately following “a Swing
Line Commitment” and preceding “or a Yen Swing Line Commitment”;

 

(vi)          amending the definition of “Facility”
by inserting “, the Irish Swing Line Facility” immediately following “the Swing
Line Facility” and preceding “or the Yen Swing Line Facility”;

 

(vii)         amending the definition of “Irish
Revolving Credit Commitment” by inserting “and of such Lender and its
Affiliates to purchase participating interests in Irish Swing Line Loans”
immediately following “Irish Revolving Credit Loans” and preceding “in an
aggregate amount”;

 

(viii)        amending the definition of “Loan” by
inserting “an Irish Swing Line Loan” immediately following “a Swing Line Loan”
and preceding “or a Yen Swing Line Loan”;

 

(ix)           amending the definition of “Majority
Lenders” by inserting “, with Irish Swing Line Loans being deemed for purposes
of this definition to be held ratably by all Irish Revolving Credit Lenders”
immediately following “US Revolving Credit Lenders” and preceding “and with Yen
Swing Line Loans”;

 

(x)            amending the definition of “Revolving
Credit Usage”, clause (b), by inserting “plus (IV) such Lender’s Irish
Revolving Credit Commitment Percentage, if any, of the aggregate principal
amount of the Irish Swing Line Loans then outstanding, if any” immediately
following “at such time” and preceding clause (c);

 

(xi)           amending the definition of “Swing
Line Lenders” by inserting “and, solely for the purposes of clause (vi) of the
proviso to subsection 10.1, each Irish Swing Line Lender” immediately prior to
the period at the end thereof;

 

4

 

(xii)          deleting the definition of “Yen
Overdraft Swing Line Commitment” in its entirety and replacing it with the
following:

 

““Yen
Overdraft Swing Line Commitment”: with respect to each Yen Overdraft Swing Line
Lender, the obligation of such Yen Overdraft Swing Line Lender to make Yen
Overdraft Swing Line Loans pursuant to subsection 2.7.”

 

(xiii)         amending the definition of “Yen Swing
Line Borrowing” by replacing “the Yen Swing Line Lender” with “each Yen Swing
Line Lender”;

 

(xiv)        amending the definition of “Yen Swing
Line Commitment” by replacing “the” immediately following “with respect to” and
preceding “Yen Swing Line Lender” with “each” and inserting “, in the case of a
Yen Swing Line Lender that is a Yen Overdraft Swing Line Lender” immediately
following “including” and preceding “any Yen Overdraft Swing Line Loans”.”

 

(xv)         deleting the definition of “Yen Swing
Line Facility” in its entirety and replacing it with the following:

 

““Yen
Swing Line Facility”: on any date, the aggregate amount of the Yen Swing
Line Lenders’ Yen Swing Line Commitments on such date; provided, however,
that a Yen Swing Lender may increase or decrease from time to time such amount
in accordance with subsection 2.7 hereof, so long as (i) such increase or
decrease is set forth in a written notification signed by such Yen Swing Line
Lender, (ii) such increase does not cause such aggregate maximum amount to
exceed $300,000,000 and (iii) no such increase or decrease shall be effective
until written notice thereof is provided to the Agent.”; and

 

(xvi)        deleting the definition of “Yen Swing
Line Lender” in its entirety and replacing it with the following:

 

““Yen
Swing Line Lenders”: each Lender which has a Yen Swing Line Commitment.”.

 

(c)           The
last sentence of subsection 2.1, clause (a)(ii) of the Credit Agreement is
hereby amended by inserting “(A)” 
immediately following “Canadian Revolving Credit Borrower that is
domiciled in Canada,” and preceding “denominated in Canadian Dollars” and by
inserting “, (B) denominated in Dollars as Base Rate Loans and (C) Eurocurrency
Loans” immediately following “(as provided for in subsection 2.5)” and
preceding “, in each case”.

 

(d)           Subsection
2.4, clause (ii) of the Credit Agreement is hereby amended by inserting “, in
the case of any Irish Revolving Credit Borrowing, simultaneously with a copy to
the Irish Swing Line Lenders” in the seventh line immediately following “to the
applicable Sub-Agent” and preceding “and further” and replacing “Yen Swing Line
Lender” in the ninth line with “Yen Swing Line Lenders”.

 

(e)           Subsection
2.7 of the Credit Agreement is hereby deleted in its entirety and replaced by
subsection 2.7 contained in Annex IV hereto.

 

(f)            Subsection
2.9 of the Credit Agreement is hereby amended by replacing “Yen Swing Line
Lender” in the ninth line with “Yen Swing Line Lenders” and “On the date on
which any such reduction or termination takes place with respect to the Irish
Revolving Credit Facility or the Irish Swing Line Facility, the Agent shall
notify the Irish Swing Line Lenders in writing on such date;

 

5

 

provided that the Agent shall have no liability
for any failure to provide such notice.” immediately following the last
sentence thereof.

 

(g)           Subsection
2.10 of the Credit Agreement is hereby amended by deleting paragraph (c) in its
entirety and replacing it with the following:

 

“(c)  Each Japanese Revolving Credit Borrower (i)
shall prepay all Yen Swing Line Loans made to it that are then outstanding
simultaneously with any Japanese Revolving Credit Borrowing by it and (ii) may
prepay (without premium or penalty) any Yen Swing Line Loans then outstanding
upon notice (if required by the applicable Yen Swing Line Lender) prior to
10:00 A.M. (Tokyo time) on the date of such payment.”

 

(h)           Subsection
2.10 of the Credit Agreement is hereby amended by inserting the following new
paragraph (e) immediately following paragraph (d) thereof:

 

“(e)  Each Irish Revolving Credit Borrower (i)
shall prepay all Irish Swing Line Loans made to it that are then outstanding
simultaneously with any Irish Revolving Credit Borrowing by it and (ii) may
prepay (without premium or penalty) any Irish Swing Line Loans then outstanding
upon notice prior to the Irish Swing Line Applicable Time on the date of such
payment.”

 

(i)            Subsection
2.13, paragraph (b) of the Credit Agreement is hereby amended by inserting      “, Irish Swing Line Loan” in the fifth
line immediately following “each Swing Line Loan” and preceding “and Yen Swing
Line Loan”, by replacing “Yen Overdraft Swing Line Loans” in the sixth line
with “Yen Swing Line Loans (including Yen Overdraft Swing Line Loans)” and by
inserting “and Irish Swing Line Loans and any interest thereon may be repaid
directly to the Irish Swing Line Lender” immediately prior to the period at the
end thereof.

 

(j)            Subsection
2.14, paragraph (d) of the Credit Agreement is hereby deleted in its entirety
and replaced by subsection 2.14, paragraph (d) contained in Annex IV hereto.

 

(k)           Subsection
2.14, paragraph (e) of the Credit Agreement is hereby deleted in its entirety
and replaced by subsection 2.14, paragraph (e) contained in Annex IV hereto.

 

(l)            Subsection
2.14, paragraph (g) of the Credit Agreement is hereby amended by inserting “Irish
Swing Line Loan” in the fourth line immediately following “on any” and
preceding “Yen Swing Line Loan”.

 

(m)          Subsection
2.14, paragraph (h) of the Credit Agreement is hereby amended by inserting      “, each Irish Swing Line Loan, each Yen
Swing Line Loan” immediately following “each Eurocurrency Term Loan” and
preceding “and each Swing Line Loan”.

 

(n)           Subsection
2.14 of the Credit Agreement is hereby amended by inserting the following new
paragraph (j) immediately following paragraph (i) thereof:

 

“(j)  Each Irish Swing Line Loan shall bear
interest at a rate per annum equal at all times to the Applicable Irish Swing
Line Rate.”

 

(o)           Subsection
2.18, paragraph (a) of the Credit Agreement is hereby amended by replacing “Lender”
immediately preceding the period at the end thereof with the following:

 

6

 

“Lenders. Each payment by the Company
on account of principal of or interest on the Irish Swing Line Loans shall be
made pro rata according to the respective outstanding principal amounts of the
Irish Swing Line Loans then held by the Irish Swing Line Lenders.” immediately
following the last sentence thereof.”

 

(p)           Subsection
2.24, clause (i) of the Credit Agreement is hereby amended by inserting “and
Canadian Revolving Credit Borrowers domiciled in Canada” immediately following “domiciled
in the United States” and preceding “, (ii) Bankers’ Acceptances” and replacing
“Yen Swing Line Lender” in the fifth line with “Yen Swing Line Lenders”.

 

(q)           The
following is inserted as a new subsection 2.25 of the Credit Agreement:

 

“2.25.      Irish Swing Line Commitments

 

(a)           Subject to the terms
and conditions hereof, each Irish Swing Line Lender severally agrees to make
swing line loans (“Irish Swing Line Loans”) to any Irish Revolving
Credit Borrower on any Business Day from time to time during the Commitment
Period in an aggregate principal amount at any one time outstanding for all
Irish Swing Line Lenders not to exceed $300,000,000  (or
the Equivalent in Euros or Pounds Sterling, as the case may be); provided
that in no event may the amount of any Irish Swing Line Borrowing cause the
aggregate amount of Irish Revolving Credit Loans and Irish Swing Line Loans
(after giving effect to the use of proceeds of such Irish Swing Line Loans and
any other concurrent Borrowing) to exceed the aggregate Irish Revolving Credit
Commitments then in effect of all Irish Revolving Credit Lenders. Amounts
borrowed by the Irish Revolving Credit Borrowers under this subsection 2.25 may
be repaid and, to but excluding the Termination Date, reborrowed.

 

(b)           The
Irish Swing Line Loans may be made in Dollars, Pounds Sterling or Euros; provided
that, notwithstanding subsection 2.11(a), Irish Swing Line Loans that are
denominated in Dollars shall not be entitled to be converted into Eurocurrency
Loans. The applicable Irish Revolving Credit Borrower shall give the Agent and
Irish Swing Line Lender irrevocable notice (which notice must be received by
the Agent and the Irish Swing Line Lender prior to the Irish Swing Line
Applicable Time, on the requested borrowing date (which shall be a Business
Day) specifying the amount of each requested Irish Swing Line Loan, which shall
be in a minimum amount of $5,000,000  (or
the Equivalent in Euros or Pounds Sterling, as the case may be) or a multiple
of $1,000,000  (or the Equivalent
in Euros or Pounds Sterling, as the case may be) in excess thereof. Each Irish
Swing Line Lender will make the amount of its ratable share of each Irish Swing
Line Loan available directly to the applicable Irish Revolving Credit Borrower
prior to, (i) in the case of Irish Swing Line Loans made to Irish Revolving
Credit Borrowers that are US Borrowers and that are denominated in Dollars,
3:00 P.M., New York City time, (ii) in the case of Irish Swing Line Loans made
(A) to Irish Revolving Credit Borrowers that are US Borrowers and that are
denominated in Euros or Pounds Sterling or (B) to Irish Revolving Credit
Borrowers that are not US Borrowers, 2:00 P.M., London time, on the borrowing
date requested by such Irish Revolving Credit Borrower in funds immediately
available to the Irish Revolving Credit Borrower (i) in the case of Irish Swing
Line Loans made to Irish Revolving Credit Borrowers that are US Borrowers and
that are denominated in Dollars, by crediting an account of the Irish Revolving
Credit Borrower in the United States of America designated by such applicable
Irish Revolving Credit Borrower in its discretion in the notice given to the
Agent and the Irish Swing Line Lender with respect to the Irish Swing Line Loan
or (ii) in the case of Irish Swing Line Loans made (A) to Irish Revolving
Credit Borrowers that are US Borrowers and that are denominated in Euros or
Pounds Sterling or (B) made to Irish Revolving Credit Borrowers that are not US
Borrowers, by crediting an account of the Irish Revolving Credit Borrower in 

 

7

 

London or Dublin designated by such
applicable Irish Revolving Credit Borrower in its discretion in the notice
given to the Agent and the Irish Swing Line Lender with respect to the Irish
Swing Line Loan.

 

(c)           The
Agent, (i) at any time in its sole and absolute discretion, may, or (ii) (A)
with respect to the outstanding Irish Swing Line Loans of any Irish Swing Line
Lender, upon the request of such Irish Swing Line Lender and, subject to clause
(i) of the proviso below, no earlier than the third Business Day following such
request of such Irish Swing Line Lender, or (B) upon the request of the
majority of the Irish Swing Line Lenders, shall, on behalf of the applicable
Irish Revolving Credit Borrower (which hereby irrevocably directs the Agent to
act on its behalf) request each Irish Revolving Credit Lender (including each
Irish Swing Line Lender) to make an Irish Revolving Credit Loan in an amount
equal to such Lender’s Irish Revolving Credit Commitment Percentage of the
principal amount of the Irish Swing Line Loans of any or all Irish Swing Line
Lenders (the “Irish Refunded Swing Line Loans”) outstanding on the date
such notice is given; provided that (i) at any time as there shall be an
Irish Swing Line Loan outstanding for more than seven Business Days, the Agent
shall, on behalf of the applicable Irish Revolving Credit Borrower (which
hereby irrevocably directs the Agent to act on its behalf), promptly request
each Irish Revolving Credit Lender (including each Irish Swing Line Lender) to
make an Irish Revolving Credit Loan in an amount equal to such Lender’s Irish
Revolving Credit Commitment Percentage of the principal amount of such
outstanding Irish Swing Line Loan and (ii) the Irish Swing Line Loans
shall be prepaid by the applicable Irish Revolving Credit Borrower in
accordance with the provisions of subsection 2.10(e)(i). Unless any of the
events described in paragraph (f) of Section 7 shall have occurred (in
which event the procedures of paragraph (d) of this subsection 2.25 shall
apply) and regardless of whether the conditions precedent set forth in this
Agreement to the making of an Irish Revolving Credit Loan are then satisfied,
each Irish Revolving Credit Lender shall make the proceeds of its Irish
Revolving Credit Loan available to the Agent for the ratable benefit of the
Irish Swing Line Lenders at the office of the Agent specified in subsection
10.2 prior to 11:00 A.M., New York City time, in funds immediately available on
the Business Day next succeeding the date such notice is given. The proceeds of
such Irish Revolving Credit Loans shall be immediately applied to repay the
Irish Refunded Swing Line Loans.

 

(d)           If,
prior to the making of an Irish Revolving Credit Loan pursuant to paragraph (c)
of this subsection 2.25, one of the events described in paragraph (f) of
Section 7  shall have occurred,
each Irish Revolving Credit Lender will, on the date such Irish Revolving
Credit Loan was to have been made, purchase from the Irish Swing Line Lenders
an undivided participating interest in the Irish Refunded Swing Line Loans in
an amount equal to its Irish Revolving Credit Commitment Percentage of such
Irish Refunded Swing Line Loans. Each Irish Revolving Credit Lender will
immediately transfer to the Agent, in immediately available funds, the amount
of its participation and upon receipt thereof the Agent will deliver to such
Lender an Irish Swing Line Loan Participation Certificate dated the date of
receipt of such funds and in such amount.

 

(e)           Each
Irish Revolving Credit Lender’s obligation to make Irish Revolving Credit Loans
and to purchase participating interests in accordance with paragraphs (c) and
(d) above shall be absolute and unconditional and shall not be affected by any
circumstance, including, without limitation, (i) any set-off,
counterclaim, recoupment, defense or other right which such Lender may have
against any Irish Swing Line Lender, any Irish Revolving Credit Borrower or any
other Person for any reason whatsoever; (ii) the occurrence or continuance of
any Default or Event of Default; (iii) any adverse change in the condition
(financial or otherwise) of the Company or any other Person; (iv) any breach of
this Agreement by the applicable Irish Revolving Credit Borrower or any other
Person; (v) any inability of any Irish Revolving Credit 

 

8

 

Borrower
to satisfy the conditions precedent to borrowing set forth in this Agreement on
the date upon which such participating interest is to be purchased or (vi) any
other circumstance, happening or event whatsoever, whether or not similar to
any of the foregoing. If any Irish Revolving Credit Lender does not make
available to the Agent the amount required pursuant to paragraph (c) or (d)
above, as the case may be, the Agent shall be entitled to recover such amount
on demand from such Lender, together with interest thereon for each day from
the date of non-payment until such amount is paid in full at (i) in the case of
Irish Swing Line Loans made to Irish Revolving Credit Borrowers that are US
Borrowers and that are denominated in Dollars, the Federal Funds Rate for the
first two Business Days and at the Base Rate thereafter and (ii) in the case of
Irish Swing Line Loans that are made (A) to Irish Revolving Credit Borrowers
that are US Borrowers and that are denominated in Euros or Pounds Sterling or
(B) to Irish Revolving Credit Borrowers that are not US Borrowers, the
Eurocurrency Reference Rate for Dollars, Euros or Pounds Sterling, as
applicable. Notwithstanding the foregoing provisions of this subsection
2.25(e), no Irish Revolving Credit Lender shall be required to make a Irish
Revolving Credit Loan to any Irish Revolving Credit Borrower for the purpose of
refunding Irish Swing Line Loans pursuant to paragraph (c) above or to purchase
a participating interest in Irish Swing Line Loans pursuant to paragraph (d)
above if a Default or Event of Default has occurred and is continuing and prior
to the making by the Irish Swing Line Lenders of such Irish Swing Line Loans,
each Irish Swing Line Lender has received written notice from such Lender
specifying that such Default or Event of Default has occurred and is
continuing, describing the nature thereof and stating that, as a result
thereof, such Lender shall cease to make such Irish Revolving Credit Loans and
purchase such participating interests, as the case may be; provided that
the obligation of such Lender to make such Irish Revolving Credit Loans and to
purchase such participating interests shall be reinstated upon the earlier to
occur of (i) the date upon which such Lender notifies the Irish Swing Line
Lenders that its prior notice has been withdrawn and (ii) the date upon which
the Default or Event of Default specified in such notice no longer is
continuing.

 

(f)            With regard to any assignment by the
Irish Swing Line Lender of any portion of its interest in Irish Swing Line
Loans and/or its Commitments to make such Loans, the assigning Irish Swing Line
Lender and the relevant assignee may supplement the provisions of any
Assignment and Assumption Agreement by which such assignment is to be made in
order to clarify the post-assignment responsibilities of the assignor and
assignee and the capacities in which they may act with respect to their
Commitments to make Irish Swing Line Loans and otherwise carry out the
provisions of this Agreement relating to Irish Swing Line Loans, so long as
such supplemental provisions do not have an adverse impact on the Agent or any
other Lender (unless the Agent or such other Lender shall have consented to
such supplemental provisions in writing).”

 

(r)            Subsection
4.2 of the Credit Agreement is hereby amended by inserting “, the Irish Swing
Line Lender shall have received a notice of borrowing or request for a Loan, as
the case may be, as required by subsection 2.25, if applicable” immediately
following “subsection 2.3, 2.4, 2.5 or 2.6, as the case may be” and preceding “and
each Yen Swing Line Lender”.

 

(s)           Subsection
10.1, clause (b)(y)(vii) of the Credit Agreement is hereby amended by replacing
“the” immediately following “obligations of” and preceding “Yen Swing Line
Lender” with “each”.

 

(t)            Subsection
10.1 of the Credit Agreement is hereby amended by replacing the period at the
end of clause (ix) with “, or” and inserting the following as a new clause (x)
immediately following clause (ix) thereof:

 

9

 

“(x)          amend, modify or waive any provision of subsection 2.25 or
any other provision of this Agreement governing the rights or obligations of
any Irish Swing Line Lender, without the written consent of such Irish Swing
Line Lender.”

 

(u)           Subsection
10.2, subsection (a) of the Credit Agreement is hereby amended in the second to
last line by replacing “or” with “,” and inserting “or 2.25” immediately
following “2.11” and preceding the word “shall”.

 

(v)           Schedule I to the Credit Agreement is
hereby amended in its entirety and replaced by Annex I hereto.

 

(w)          Annex II hereto is inserted as a new
Exhibit N to the Credit Agreement.

 

SECTION 2.           CONDITIONS
OF EFFECTIVENESS

 

This Amendment shall become
effective as of the date first above written when, and only when, the following
conditions have been satisfied: 

 

(a)           the Agent shall have received
counterparts of this Amendment executed by the Majority Lenders, the Irish
Revolving Credit Lenders holding a majority in interest of the obligations
under the Irish Revolving Credit Facility, the Irish Swing Line Lenders, the
Yen Swing Line Lenders and the Canadian Revolving Credit Lenders, or, as to any
such Lender, advice satisfactory to the Agent that such Lender has executed
this Amendment;

 

(b)           each Guarantor has executed and
delivered a consent in the form of Annex III hereto; and

 

(c)           all fees and expenses of the Agent
and the Lenders (including all reasonable fees and expenses of counsel to the
Agent), to the extent invoiced prior to the date hereof, shall have been paid.

 

SECTION 3.           CONFIRMATION
OF REPRESENTATIONS AND WARRANTIES

 

(a)           Each of the Company and each Borrower
hereto hereby represents and warrants, on and as of the date hereof, that the
representations and warranties contained in the Credit Agreement (to the extent
relating to such Loan Party) are true and correct in all material respects on
and as of the date hereof, before and after giving effect to this Amendment, as
though made on and as of the date hereof, other than any such representations
or warranties that, by their terms, refer to a specific date.

 

(b)           The Company hereby represents and
warrants that, on and as of the date hereof, no event has occurred and is
continuing that constitutes a Default.

 

SECTION 4.           AFFIRMATION
OF THE COMPANY

 

The Company hereby consents
to the amendments to the Credit Agreement effected hereby, and hereby
confirms and agrees that, notwithstanding the effectiveness of this Amendment,
the obligations of the Company contained in Section 8 of the Credit Agreement,
as amended hereby, or in any other Loan Documents to which it is a party are,
and shall remain, in full force and effect and are hereby ratified and
confirmed in all respects.

 

SECTION 5.           REFERENCE
TO AND EFFECT ON THE LOAN DOCUMENTS

 

(a)           On and after the effectiveness of this Amendment, each
reference in the Credit 

 

10

 

Agreement to “this Agreement”,
“hereunder”, “hereof” or words of like import referring to the Credit Agreement
and each reference in the Notes and each of 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
amended by this Amendment.

 

(b)           The Credit Agreement, the Notes and
each of the other Loan Documents, as specifically amended by this Amendment,
are and shall continue to be in full force and effect and are hereby in all
respects ratified and confirmed.

 

(c)           The execution, delivery and
effectiveness of this Amendment shall not, except as expressly provided herein,
operate as a waiver of any right, power or remedy of any Lender or the Agent
under the Credit Agreement or any other Loan Document, nor constitute a waiver
of any provision of the Credit Agreement or any other Loan Document.

 

SECTION 6.           COSTS,
EXPENSES

 

The Borrowers agree to pay
on demand all costs and expenses of the Agent in connection with the
preparation, execution, delivery and administration, modification and amendment
of this Amendment and the other instruments and documents to be delivered
hereunder (including, without limitation, the reasonable fees and expenses of
counsel for the Agent) in accordance with the terms of subsection 10.5 of
the Credit Agreement.

 

SECTION 7.           EXECUTION
IN COUNTERPARTS

 

This Amendment may be
executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute but one and the same
agreement. Delivery of an executed counterpart of a signature page to this
Amendment by telecopier shall be effective as delivery of a manually executed
counterpart of this Amendment.

 

SECTION 8.           GOVERNING
LAW

 

This Amendment shall be
governed by, and construed in accordance with, the laws of the State of
New York.

 

[The
remainder of this page intentionally left blank.]

 

11

 

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

 

	
   

  	
  CAPMARK FINANCIAL GROUP
  INC.,

  
	
   

  	
  as the Company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MARC A. FOX

  
	
   

  	
   

  	
  Name: Marc A. Fox

  
	
   

  	
   

  	
  Title: Senior Vice President and Treasurer

  
	
   

  
	
   

  	
   

  
	
   

  	
  CAPMARK CANADA LIMITED,

  
	
   

  	
  as a Borrower

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MARC A. FOX

  
	
   

  	
   

  	
  Name: Marc A. Fox

  
	
   

  	
   

  	
  Title: Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CAPMARK BANK EUROPE,
  PUBLIC 

  
	
   

  	
  COMPANY,

  
	
   

  	
  as a Borrower

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ DONAL COURTNEY

  
	
   

  	
   

  	
  Name: Donal Courtney

  
	
   

  	
   

  	
  Title: Senior Vice President and Chief

   Financial Officer/Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CAPMARK EI IRELAND
  LIMITED,

  
	
   

  	
  as a Borrower

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ DONAL COURTNEY

  
	
   

  	
   

  	
  Name: Donal Courtney

  
	
   

  	
   

  	
  Title: Senior Vice President and Chief

   Financial Officer/Director

  
	
   

  
	
   

  	
   

  
	
   

  	
  CAPMARK IRELAND LIMITED,

  
	
   

  	
  as a Borrower

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ DONAL COURTNEY

  
	
   

  	
   

  	
  Name: Donal Courtney

  
	
   

  	
   

  	
  Title: Senior Vice President and Chief

   Financial Officer/Director

  
					

 

 

	
   

  	
  CAPMARK AB NO. 2 LIMITED,

  
	
   

  	
  as a Borrower

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ DONAL COURTNEY

  
	
   

  	
   

  	
  Name: Donal Courtney

  
	
   

  	
   

  	
  Title: Senior Vice President/Director

  
	
   

  
	
   

  
	
   

  	
  CAPMARK FINANCE INC.,

  
	
   

  	
  as a Borrower

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MARC A. FOX

  
	
   

  	
   

  	
  Name: Marc A. Fox

  
	
   

  	
   

  	
  Title: Executive Vice President and Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SJM CAP, LLC,

  
	
   

  	
  as a Borrower

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MARC A. FOX

  
	
   

  	
   

  	
  Name: Marc A. Fox

  
	
   

  	
   

  	
  Title: Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CAPMARK BANK,

  
	
   

  	
  as a Borrower

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MARC A. FOX

  
	
   

  	
   

  	
  Name: Marc A. Fox

  
	
   

  	
   

  	
  Title: Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CAPMARK FUNDING JAPAN,
  K.K.,

  
	
   

  	
  as a Borrower

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ANNE KELLY

  
	
   

  	
   

  	
  Name: Anne Kelly

  
	
   

  	
   

  	
  Title: Assistant Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

 

	
   

  	
  CAPMARK JAPAN, K.K.,

  
	
   

  	
  as a Borrower

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ANNE KELLY

  
	
   

  	
   

  	
  Name: Anne Kelly

  
	
   

  	
   

  	
  Title: Assistant Treasurer

  

 

 

	
   

  	
  CITIBANK, N.A., as
  Administrative Agent

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MAUREEN P. MARONEY

  
	
   

  	
   

  	
  Name: Maureen P. Maroney

  
	
   

  	
   

  	
  Title: Vice President

  

 

 

	
   

  	
  THE ROYAL BANK OF SCOTLAND
  PLC,

  
	
   

  	
  as an Irish Revolving
  Credit Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ANGELA REILLY

  
	
   

  	
   

  	
  Name: Angela Reilly

  
	
   

  	
   

  	
  Title: Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CREDIT SUISSE, CAYMAN
  ISLANDS 

  
	
   

  	
  BRANCH,

  
	
   

  	
  as an Irish Revolving
  Credit Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ DAVID DODD

  
	
   

  	
   

  	
  Name: David Dodd

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ RIANKA MC

  
	
   

  	
   

  	
  Name: Rianka Mc

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  WACHOVIA BANK, NATIONAL 

  
	
   

  	
  ASSOCIATION,

  
	
   

  	
  as an Irish Revolving
  Credit Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOAN ANDERSON

  
	
   

  	
   

  	
  Name: Joan Anderson

  
	
   

  	
   

  	
  Title: Director

  
					

 

 

 

	
   

  	
  CITIBANK N.A., CANADIAN
  BRANCH

  
	
   

  	
  as a Canadian Revolving
  Credit Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ SHERYL HOLMES

  
	
   

  	
   

  	
  Name: Sheryl Holmes

  
	
   

  	
   

  	
  Title: Authorized Signer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE BANK, N.A.,
  

  
	
   

  	
  TORONTO BRANCH

  
	
   

  	
  as a Canadian Revolving
  Credit Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MUHAMMED HASAN

  
	
   

  	
   

  	
  Name: Muhammed Hasan

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  
	
   

  	
  CREDIT SUISSE, TORONTO
  BRANCH,

  
	
   

  	
  as a Canadian Revolving
  Credit Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ALAIN DEOUET

  
	
   

  	
   

  	
  Name: Alain Deouet

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ STEVE W. FUH

  
	
   

  	
   

  	
  Name: Steve W. Fuh

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DEUTSCHE BANK AG CANADA 

  
	
   

  	
  BRANCH,

  
	
   

  	
  as a Canadian Revolving
  Credit Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ROBERT JOHNSTON

  
	
   

  	
   

  	
  Name: Robert Johnston

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MARCELLUS LEWG

  
	
   

  	
   

  	
  Name: Marcellus Lewg

  
	
   

  	
   

  	
  Title: Assistant Vice President

  
	
   

  	
   

  	
   

  
					

 

 

	
   

  	
  GOLDMAN SACHS CANADA
  CREDIT 

  
	
   

  	
  PARTNERS CO.,

  
	
   

  	
  as a Canadian Revolving
  Credit Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ PHILLIP F. GREENE

  
	
   

  	
   

  	
  Name: Phillip F. Green

  
	
   

  	
   

  	
  Title: Authorized Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  WESTLB, TORONTO BRANCH

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ALIK A. KESSNER

  
	
   

  	
   

  	
  Name: Alik A. Kessner

  
	
   

  	
   

  	
  Title: Principal Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ROBERT L. DYCK

  
	
   

  	
   

  	
  Name: Robert L. Dyck

  
	
   

  	
   

  	
  Title: Officer, Corporate Finance

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  WESTLB AG, NEW YORK BRANCH

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/  DEE DEE [ILLEGIBLE]

  
	
   

  	
   

  	
  Name: Dee Dee [Illegible]

  
	
   

  	
   

  	
  Title: Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ PUI CHOW

  
	
   

  	
   

  	
  Name: Pui Chow

  
	
   

  	
   

  	
  Title: Director

  
	
   

  
	
   

  
	
   

  	
  BANK OF AMERICA, N.A.
  (CANADA

  
	
   

  	
  BRANCH),

  
	
   

  	
  as a Canadian Revolving
  Credit Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MEDINA SALES DE
  ANDRADE

  
	
   

  	
   

  	
  Name: Medina Sales De Andrade

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  THE BANK OF NOVA SCOTIA

  
	
   

  	
  as a Canadian Revolving
  Credit Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ PAUL GIRVAN

  
	
   

  	
   

  	
  Name: Paul Girvan

  
	
   

  	
   

  	
  Title: Managing Director

  
					

 

 

	
   

  	
  ROYAL BANK OF CANADA

  
	
   

  	
  as a Canadian Revolving
  Credit Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ HOWARD LEE

  
	
   

  	
   

  	
  Name: Howard Lee

  
	
   

  	
   

  	
  Title: Authorized Signatory

  
	
   

  
	
   

  
	
   

  	
  FIFTH THIRD BANK.,

  
	
   

  	
  as a Canadian Revolving
  Credit Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JERRY HYNES

  
	
   

  	
   

  	
  Name: Jeremiah A. Hynes

  
	
   

  	
   

  	
  Title: Vice President and Principal Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  THE TORONTO-DOMINION BANK,

  
	
   

  	
  as a Canadian Revolving
  Credit Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ IAN MURRAY

  
	
   

  	
   

  	
  Name: Ian Murray

  
	
   

  	
   

  	
  Title: Authorized Signatory

  
					

 

 

 

 

	
   

  	
  THE BANK OF
  TOKYO-MITSUBISHI

  
	
   

  	
  UFJ, LTD., as a Yen Swing
  Line Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ HIROSHI AKIYAMA

  
	
   

  	
   

  	
  Name: Hiroshi Akiyama

  
	
   

  	
   

  	
  Title: Executive Officer

   General Manager

   Corporate Banking Division No. 2

   Corporate Banking Group No. 1

  

 

 

Agreed and Accepted:

 

	
   

  	
  THE ROYAL BANK OF SCOTLAND
  PLC,

  
	
   

  	
  as an Irish Swing Line
  Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ANGELA REILLY

  
	
   

  	
   

  	
  Name: Angela Reilly

  
	
   

  	
   

  	
  Title: Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  WACHOVIA BANK, NATIONAL

  
	
   

  	
  ASSOCIATION,

  
	
   

  	
  as an Irish Swing Line
  Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOAN ANDERSON

  
	
   

  	
   

  	
  Name: Joan Anderson

  
	
   

  	
   

  	
  Title: Director

  
					

 

 

	
   

  	
  CITIBANK, N.A., TOKYO
  BRANCH,

  
	
   

  	
  as a Yen Swing Line Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ YOSHIYUKI HIJIKATA

  
	
   

  	
   

  	
  Name: Yoshiyuki Hijikata

  
	
   

  	
   

  	
  Title: Vice President and Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]