Document:

EX-10.1

 

Exhibit 10.1

EXECUTION COPY

 

CREDIT AGREEMENT

dated as of

April 30, 2008

between

ATARI, INC.

INFOGRAMES ENTERTAINMENT, S.A.,

as the Lender

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE I Definitions
	 	 	1	 
	SECTION 1.01. Defined Terms
	 	 	1	 
	SECTION 1.02. Classification of Loans
	 	 	13	 
	SECTION 1.03. Terms Generally
	 	 	14	 
	SECTION 1.04. Accounting Terms; GAAP
	 	 	14	 
	 
	 	 	 	 
	ARTICLE II The Credits
	 	 	14	 
	SECTION 2.01. Commitment
	 	 	14	 
	SECTION 2.02. Loans
	 	 	14	 
	SECTION 2.03. Requests for Borrowings
	 	 	15	 
	SECTION 2.04. Repayment of Loans; Evidence of Debt
	 	 	15	 
	SECTION 2.05. Prepayment of Loans
	 	 	16	 
	SECTION 2.06. Interest
	 	 	17	 
	SECTION 2.07. Alternate Rate of Interest
	 	 	18	 
	SECTION 2.08. Increased Costs
	 	 	18	 
	SECTION 2.09. Break Funding Payments
	 	 	19	 
	SECTION 2.10. Taxes
	 	 	19	 
	SECTION 2.11. Payments Generally
	 	 	21	 
	 
	 	 	 	 
	ARTICLE III Representations and Warranties
	 	 	21	 
	SECTION 3.01. Organization; Powers
	 	 	21	 
	SECTION 3.02. Authorization; Enforceability
	 	 	22	 
	SECTION 3.03. Governmental Approvals; No Conflicts
	 	 	22	 
	SECTION 3.04. Financial Condition; No Material Adverse Change
	 	 	22	 
	SECTION 3.05. Subsidiaries
	 	 	22	 
	SECTION 3.06. Properties
	 	 	23	 
	SECTION 3.07. Litigation and Labor Matters
	 	 	23	 
	SECTION 3.08. Compliance with Laws and Agreements; No Burdensome Restrictions
	 	 	23	 
	SECTION 3.09. Investment Company Status
	 	 	24	 
	SECTION 3.10. Taxes
	 	 	24	 
	SECTION 3.11. ERISA
	 	 	24	 

i

 

	 	 	 	 	 
	 	 	Page
	SECTION 3.12. Disclosure
	 	 	24	 
	SECTION 3.13. No Default
	 	 	25	 
	SECTION 3.14. Liens
	 	 	25	 
	SECTION 3.15. Contingent Obligations
	 	 	25	 
	SECTION 3.16. Regulation U
	 	 	25	 
	SECTION 3.17. Insurance
	 	 	25	 
	SECTION 3.18. Collateral Documents
	 	 	25	 
	 
	 	 	 	 
	ARTICLE IV Conditions
	 	 	25	 
	SECTION 4.01. Conditions Precedent to Closing
	 	 	25	 
	SECTION 4.02. Conditions Precedent to Each Loan
	 	 	27	 
	 
	 	 	 	 
	ARTICLE V Affirmative Covenants
	 	 	27	 
	SECTION 5.01. Financial Statements and Other Information
	 	 	27	 
	SECTION 5.02. Notices of Material Events
	 	 	29	 
	SECTION 5.03. Existence; Conduct of Business
	 	 	29	 
	SECTION 5.04. Payment of Obligations
	 	 	29	 
	SECTION 5.05. Maintenance of Properties; Insurance
	 	 	29	 
	SECTION 5.06. Books and Records; Inspection Rights
	 	 	30	 
	SECTION 5.07. Compliance with Laws
	 	 	30	 
	SECTION 5.08. Use of Proceeds
	 	 	30	 
	SECTION 5.09. Credit Parties Guaranty
	 	 	31	 
	SECTION 5.10. Collateral
	 	 	31	 
	 
	 	 	 	 
	ARTICLE VI Negative Covenants
	 	 	32	 
	SECTION 6.01. Indebtedness
	 	 	32	 
	SECTION 6.02. Liens
	 	 	33	 
	SECTION 6.03. Fundamental Changes
	 	 	33	 
	SECTION 6.04. Investments, Loans, Advances, Guarantees and Acquisitions
	 	 	34	 
	SECTION 6.05. Swap Agreements
	 	 	34	 
	SECTION 6.06. Restricted Payments
	 	 	35	 
	SECTION 6.07. Transactions with Affiliates
	 	 	35	 
	SECTION 6.08. Restrictive Agreements
	 	 	35	 
	SECTION 6.09. Changes in Fiscal Year
	 	 	36	 
	SECTION 6.10. Asset Sales
	 	 	36	 

ii

 

	 	 	 	 	 
	 	 	Page
	SECTION 6.11. Sale and Leaseback Transactions
	 	 	37	 
	SECTION 6.12. Capital Expenditures
	 	 	37	 
	SECTION 6.13. Subsidiaries
	 	 	37	 
	 
	 	 	 	 
	ARTICLE VII Events of Default
	 	 	37	 
	 
	 	 	 	 
	ARTICLE VIII Miscellaneous
	 	 	40	 
	SECTION 8.01. Notices
	 	 	40	 
	SECTION 8.02. Waivers; Amendments
	 	 	40	 
	SECTION 8.03. Expenses; Indemnity; Damage Waiver
	 	 	41	 
	SECTION 8.04. Successors and Assigns
	 	 	42	 
	SECTION 8.05. Survival
	 	 	42	 
	SECTION 8.06. Counterparts; Integration; Effectiveness
	 	 	42	 
	SECTION 8.07. Severability
	 	 	43	 
	SECTION 8.08. Right of Setoff
	 	 	43	 
	SECTION 8.09. Governing Law; Jurisdiction; Consent to Service of Process
	 	 	43	 
	SECTION 8.10. WAIVER OF JURY TRIAL
	 	 	44	 
	SECTION 8.11. Headings
	 	 	44	 
	SECTION 8.12. Subordination of Intercompany Indebtedness
	 	 	44	 
	SECTION 8.13. Subject to Intercreditor Agreement
	 	 	45	 

SCHEDULES:

	 	 	 	 	 
	Schedule 2.01

	 	—
	 	Commitment
	Schedule 3.06

	 	—
	 	Disclosed Matters
	Schedule 6.01

	 	—
	 	Existing Indebtedness
	Schedule 6.02

	 	—
	 	Existing Liens
	Schedule 6.07

	 	—
	 	Affiliate Transactions
	Schedule 6.08

	 	—
	 	Existing Restrictions

EXHIBITS:

	 	 	 	 	 
	Exhibit A

	 	—
	 	Form of Officer’s Certificate
	Exhibit B

	 	—
	 	Budget
	Exhibit C

	 	—
	 	List of Closing Documents

iii

 

          CREDIT AGREEMENT, dated as of April 30, 2008, between ATARI, INC., as the Borrower and
INFOGRAMES ENTERTAINMENT, S.A., as the Lender.

ARTICLE I

Definitions

          SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the
meanings specified below:

          “ABR”, when used in reference to any Loan, refers to whether such Loan is bearing
interest at a rate determined by reference to the Alternate Base Rate.

          “Acquisition” means any acquisition (whether by purchase, merger, consolidation or
otherwise) or series of related acquisitions by the Borrower or any Subsidiary of all or
substantially all of the assets of, or all of the Equity Interests in, a Person or division or line
of business of a Person.

          “Affected Foreign Subsidiary” means any Foreign Subsidiary to the extent that
designation of such Foreign Subsidiary as a Subsidiary Guarantor would (a) be prohibited by
applicable law or (b) cause a Deemed Dividend Problem.

          “Affiliate” means, with respect to a specified Person, another Person that directly,
or indirectly through one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified, provided that the Lender shall not be an “Affiliate” as
such term is used in this Agreement or in any other Loan Document.

          “Aggregate Commitment” means $20,000,000.

          “Alternate Base Rate” means, for any day, a rate per annum equal to the greater of (a)
the Prime Rate in effect on such day and (b) the Federal Funds Effective Rate in effect on such day
plus 1/2 of 1%. Any change in the Alternate Base Rate due to a change in the Prime Rate or
the Federal Funds Effective Rate shall be effective from and including the effective date of such
change in the Prime Rate or the Federal Funds Effective Rate, respectively.

          “Applicable Rate” means, for any day, the following per annum rates:

	 	 	 
	APPLICABLE RATE
	EURODOLLAR	 	ABR
	BORROWING	 	BORROWING
	7.00%
	 	6.00%

          “Availability Period” means the period from and including the Effective Date to but
excluding the earlier of September 30, 2008 and the date of termination of the Commitment.

 

 

          “BlueBay” means BlueBay High Yield Investments (Luxembourg) S.A.R.L.

          “BlueBay Credit Agreement” means that certain Credit Agreement dated as of November 3,
2006 by and among the Borrower, Guggenheim Corporate Funding, LLC, predecessor in interest to
BlueBay, as Administrative Agent, and the Lenders from time to time party thereto, as the same has
been and may be amended, modified, restated and supplemented from time to time.

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

          “Borrower” means Atari, Inc., a Delaware corporation.

          “Borrowing Request” means a request by the Borrower for a Loan in accordance with
Section 2.03.

          “Budget” means the Borrower’s budget attached hereto as Exhibit B, as
supplemented pursuant to Section 5.01(f); provided that the Borrower may submit a new budget within
thirty (30) days of the Effective Date, and such budget shall, subject to the consent of the
Lender, which consent shall be given or withheld in the Lender’s commercially reasonable
discretion, become the Budget as defined and referred to herein (provided that BlueBay has agreed
to add such supplemental budget as a part of the Budget under the BlueBay Credit Agreement), it
being understood that the Budget hereunder and the Budget under and as defined in the BlueBay
Credit Agreement shall be identical.

          “Budget Period” means each rolling four-week period covered by the Budget, commencing
with the week ending April 11, 2008.

          “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed;
provided that, when used in connection with a Eurodollar Loan, the term “Business
Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in
the London interbank market.

          “Capital Expenditures” means, without duplication, any expenditures for any purchase
or other acquisition of any asset which would be classified as a fixed or capital asset on a
consolidated balance sheet of the Borrower and its consolidated Subsidiaries prepared in accordance
with GAAP.

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

          “Certified Variance Report” has the meaning given such term in Section 5.01(e).

2

 

          “Change in Control” means (a) the acquisition of ownership, directly or indirectly,
beneficially or of record, by any Person or group (within the meaning of the Securities Exchange
Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in effect on the
date hereof), of Equity Interests representing more than 30% of the aggregate ordinary voting power
represented by the issued and outstanding Equity Interests of the Borrower, unless such acquisition
occurs as a result of the Lender’s sale of some or all of the Equity Interests of the Borrower held
by the Lender; (b) occupation of a majority of the seats (other than vacant seats) on the board of
directors of the Borrower by Persons who were neither (i) nominated by the board of directors nor
(ii) appointed by directors so nominated; or (c) the acquisition of direct or indirect Control of
the Borrower by any Person or group (other than the Lender or any affiliate of the Lender).

          “Change in Law” means (a) the adoption of any law, rule or regulation after the date
of this Agreement, (b) any change in any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority after the date of this Agreement or (c)
compliance by the Lender with any request, guideline or directive (whether or not having the force
of law) of any Governmental Authority made or issued after the date of this Agreement.

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

          “Collateral” means all property and interests in property now owned or hereafter
acquired by any Credit Party in or upon which a security interest or Lien or mortgage is from time
to time granted to the Lender, for the benefit of the Holders of Obligations, whether under the
Pledge and Security Agreement, under any of the other Collateral Documents or under any of the
other Loan Documents.

          “Collateral Documents” means all agreements, instruments and documents executed in
connection with this Agreement pursuant to which the Lender is granted a security interest in
Collateral, including, the Pledge and Security Agreement, and all other security agreements, loan
agreements, notes, guarantees, subordination agreements, pledges, powers of attorney, consents,
assignments, contracts, fee letters, notices, leases, financing statements and all other written
matter whether heretofore, now, or hereafter executed by or on behalf of the Borrower or any of its
Subsidiaries and delivered to the Lender, together with all agreements and documents referred to
therein or contemplated thereby.

          “Commitment” means the commitment of the Lender to make Loans hereunder.

          “Contracts” means any contracts, agreements, licenses, notes, bonds, mortgages,
indentures, commitments, leases or other instruments or obligations.

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

          “Credit Parties Guaranty” has the meaning given such term in Section 5.09.

          “Credit Party” means the Borrower and any Subsidiary Guarantor.

3

 

          “Deemed Dividend Problem” means, with respect to any Foreign Subsidiary, such Foreign
Subsidiary’s accumulated and undistributed earnings and profits being deemed to be repatriated to
the Borrower or the applicable parent Domestic Subsidiary under Section 956 of the Code and the
effect of such repatriation causing adverse tax consequences to the Borrower or such parent
Domestic Subsidiary, in each case as determined by the Borrower in its commercially reasonable
judgment acting in good faith and in consultation with its legal and tax advisors.

          “Default” means any event or condition which constitutes an Event of Default or which
upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.

          “Disclosed Matters” means the actions, suits and proceedings and the environmental
matters disclosed in Schedule 3.06 and all matters disclosed in the Merger Disclosures.

          “Dollars,” “dollars,” or “$” refers to lawful money of the United
States of America.

          “Domestic Subsidiary” means a Subsidiary organized under the laws of a jurisdiction
located in the United States of America.

          “Effective Date” means the date on which the conditions specified in Section 4.01 are
satisfied (or waived in accordance with Section 8.02).

          “Equity Interests” means shares of capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or other equity ownership
interests in a Person, and any warrants, options or other rights entitling the holder thereof to
purchase or acquire any such equity interest.

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

          “ERISA Affiliate” means any trade or business (whether or not incorporated) that,
together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code
or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single
employer under Section 414 of the Code.

          “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or
the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day
notice period is waived); (b) the existence with respect to any Plan of an “accumulated funding
deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived;
(c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application
for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the
Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to
the termination of any Plan; (e) the receipt by the Borrower or any ERISA Affiliate from the PBGC
or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to
appoint a trustee to administer any Plan; (f) the incurrence by

4

 

the Borrower or any of its ERISA Affiliates of any liability with respect to the withdrawal or
partial withdrawal from any Plan or Multiemployer Plan; or (g) the receipt by the Borrower or any
ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower or any
ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination
that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the
meaning of Title IV of ERISA.

          “Eurodollar,” when used in reference to any Loan, refers to whether such Loan is
bearing interest at a rate determined by reference to the LIBO Rate.

          “Event of Default” has the meaning assigned to such term in Article VII.

          “Excluded Taxes” means, with respect to the Lender, (a) income or franchise taxes
imposed on (or measured by) its net income by the United States of America, or by the jurisdiction
under the laws of which the Lender is organized or in which its principal office is located, and
(b) any branch profits taxes imposed by the United States of America or any similar tax imposed by
any other jurisdiction in which the Borrower is located.

          “Federal Funds Effective Rate” means, for any day, the weighted average (rounded
upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds
transactions with members of the Federal Reserve System arranged by Federal funds brokers, as
published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such
rate is not so published for any day that is a Business Day, the average (rounded upwards, if
necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received
by the Lender from three Federal funds brokers of recognized standing selected by it.

          “Financial Assistance Problem” means, with respect to any Foreign Subsidiary, the
inability of such Foreign Subsidiary to become a Subsidiary Guarantor or to permit its Equity
Interests from being pledged pursuant to a pledge agreement on account of legal or financial
limitations imposed by the jurisdiction of organization of such Foreign Subsidiary or other
relevant jurisdictions having authority over such Foreign Subsidiary, in each case as determined by
the Borrower in its commercially reasonable judgment acting in good faith and in consultation with
its legal and tax advisors.

          “Financial Officer” means the chief executive officer, chief financial officer (or
acting chief financial officer), president, controller or treasurer of the Borrower.

          “Financials” means the annual or quarterly or monthly financial statements, and
accompanying certificates and other documents, of the Borrower required to be delivered pursuant to
Section 5.01(a), 5.01(b) or 5.01(c).

          “Foreign Subsidiary” means any Subsidiary which is not a Domestic Subsidiary.

          “GAAP” means generally accepted accounting principles in the United States of America.

          “Governmental Authority” means the government of the United States of America, any
other nation or any political subdivision thereof, whether state or local, and any

5

 

agency, authority, instrumentality, regulatory body, court, central bank or other entity
exercising executive, legislative, judicial, taxing, regulatory or administrative powers or
functions of or pertaining to government.

          “Guarantee” of or by any Person (the “guarantor”) means any obligation,
contingent or otherwise, of the guarantor guaranteeing or having the economic effect of
guaranteeing any Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase
or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds
for the purchase of) any security for the payment thereof, (b) to purchase or lease property,
securities or services for the purpose of assuring the owner of such Indebtedness or other
obligation of the payment thereof, (c) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any
letter of credit or letter of guaranty issued to support such Indebtedness or obligation;
provided, that the term Guarantee shall not include endorsements for collection or deposit
in the ordinary course of business.

          “Holders of Obligations” means the holders of the Obligations from time to time and
shall include (i) the Lender in respect of the Loans and all other present and future obligations
and liabilities of the Borrower and each Subsidiary of every type and description arising under or
in connection with the Credit Agreement or any other Loan Document, (ii) each indemnified party
under Section 8.03 in respect of the obligations and liabilities of the Borrower to such Person
hereunder and under the other Loan Documents, and (iii) their respective successors and (in the
case of the Lender, permitted) transferees and assigns.

          “IESA” shall mean Infogrames Entertainment, S.A., a French corporation.

          “Indebtedness” of any Person means, without duplication, (a) all obligations of such
Person for borrowed money or with respect to deposits or advances of any kind, (b) all obligations
of such Person evidenced by preferred stock, bonds, debentures, notes or similar instruments,
(c) all obligations of such Person upon which interest charges are customarily paid, (d) all
obligations of such Person under conditional sale or other title retention agreements relating to
property acquired by such Person, (e) all obligations of such Person in respect of the deferred
purchase price of property or services (excluding current accounts payable incurred in the ordinary
course of business), (f) all Indebtedness of others secured by (or for which the holder of such
Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property
owned or acquired by such Person, up to the value of the property subject to such Lien or, if
greater, the Indebtedness secured thereby that is assumed by such Person, (g) all Guarantees by
such Person of Indebtedness of others, (h) all Capital Lease Obligations of such Person, (i) all
obligations, contingent or otherwise, of such Person as an account party in respect of letters of
credit and letters of guaranty, (j) all obligations, contingent or otherwise, of such Person in
respect of bankers’ acceptances, and (k) all Off-Balance Sheet Liabilities of such Person. The
Indebtedness of any Person shall include the Indebtedness of any other entity (including any
partnership in which such Person is a general partner) to the extent such Person is liable therefor
as a result of such Person’s ownership interest in or other relationship with such

6

 

entity, except to the extent the terms of such Indebtedness provide that such Person is not
liable therefor.

          “Indemnified Taxes” means Taxes other than Excluded Taxes.

          “Insolvency Event” has the meaning assigned to such term in Section 8.12.

          “Intercompany Indebtedness” has the meaning assigned to such term in Section 8.12.

          “Intercreditor Agreements” means, collectively, (i) that certain Temporary Liquidity
Facility Intercreditor Agreement dated as of the Effective Date by and among the Lender, BlueBay
and the Borrower, and (ii) that certain Intercreditor Agreement dated as of November 21, 2007 by
and among IESA, BlueBay and the Borrower, as amended, restated, supplemented or otherwise modified
from time to time.

          “Interest Payment Date” means with respect to any Loan, the last Business Day of each
calendar month.

          “Interest Period” means, with respect to any Eurodollar Loan, the period commencing on
the date of such Loan and ending on the numerically corresponding day in the calendar month that is
one month thereafter, provided, that (i) if any Interest Period would end on a day other
than a Business Day, such Interest Period shall be extended to the next succeeding Business Day
unless, in the case of a Eurodollar Loan only, such next succeeding Business Day would fall in the
next calendar month, in which case such Interest Period shall end on the next preceding Business
Day and (ii) any Interest Period pertaining to a Eurodollar Loan that commences on the last
Business Day of a calendar month (or on a day for which there is no numerically corresponding day
in the last calendar month of such Interest Period) shall end on the last Business Day of the last
calendar month of such Interest Period. For purposes hereof, the date of a Loan initially shall be
the date on which such Loan is made and thereafter shall be the effective date of the most recent
conversion or continuation of such Loan.

          “Lender” means Infogrames Entertainment, S.A.

          “LIBO Rate” means, with respect to any Eurodollar Loan for any Interest Period, the
rate appearing on Page 3750 of the Dow Jones Market Service (or on any successor or substitute page
of such Service, or 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 Lender
from time to time for purposes of providing quotations of interest rates applicable to dollar
deposits in the London interbank market) at approximately 11:00 a.m., London time, two Business
Days prior to the commencement of such Interest Period, as the rate for dollar deposits with a
maturity comparable to such Interest Period. In the event that such rate is not available at such
time for any reason, then the “LIBO Rate” with respect to such Eurodollar Loan for such
Interest Period shall be the rate at which dollar deposits of $5,000,000 and for a maturity
comparable to such Interest Period are offered by the principal London office of Citibank, N.A. in
immediately available funds in the London interbank market at approximately 11:00 a.m., London
time, two Business Days prior to the commencement of such Interest Period.

7

 

          “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien,
pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the
interest of a vendor or a lessor under any conditional sale agreement, capital lease or title
retention agreement (or any financing lease having substantially the same economic effect as any of
the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call
or similar right of a third party with respect to such securities.

          “Loan Documents” means this Agreement, any promissory notes executed and delivered
pursuant to Section 2.04(d), the Collateral Documents, any Credit Parties Guaranty, the
Intercreditor Agreements and any and all other instruments and documents executed and delivered in
connection with any of the foregoing.

          “Loans” means the loans made by the Lender to the Borrower pursuant to this Agreement.

          “Material Adverse Deviation” means, as of the date of determination, an adverse
deviation in excess of (i) 20%, in respect of the Budget line items for (x) total receipts, (y)
research and development, or (z) overhead plus distribution and freight, or (ii) $1,000,000, in
respect of the Budget line item for cash flow.

          “Material Adverse Effect” means a material adverse effect on (a) the business, assets,
operations, performance, prospects or condition (financial or otherwise) of the Borrower and the
Subsidiaries taken as a whole, (b) the ability of the Borrower to perform any of its obligations
under this Agreement or (c) the validity or enforceability of this Agreement or the rights of or
benefits available to the Lender under this Agreement and the other Loan Documents.

          “Material Indebtedness” means Indebtedness (other than the Loans), or obligations in
respect of one or more Swap Agreements, of any one or more of the Borrower and its Subsidiaries in
an aggregate principal amount exceeding $1,000,000. For purposes of determining Material
Indebtedness, the “principal amount” of the obligations of the Borrower or any Subsidiary in
respect of any Swap Agreement at any time shall be the maximum aggregate amount (giving effect to
any netting agreements) that the Borrower or such Subsidiary would be required to pay if such Swap
Agreement were terminated at such time.

          “Maturity Date” means the earlier of (i) December 31, 2008 and (ii) the date that any
party to the Merger Agreement elects to terminate the Merger Agreement pursuant to Section 7.1, 7.2
or 7.3 thereof.

          “Merger Agreement” means that certain Agreement and Plan of Merger dated as of the
date hereof by and among IESA, IRATA Acquisition Corp., a Delaware corporation, and the Borrower.

          “Merger Disclosures” means the matters disclosed in the “Company Disclosure Schedule”
as that term is defined in the Merger Agreement.

          “Moody’s” means Moody’s Investors Service, Inc.

8

 

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

          “Net Proceeds” means, with respect to any event (a) the cash proceeds received in
respect of such event including (i) any cash received in respect of any non-cash proceeds, but only
as and when received, (ii) in the case of a casualty, insurance proceeds, and (iii) in the case of
a condemnation or similar event, condemnation awards and similar payments, net of (b) the sum of
(i) all fees and out-of-pocket expenses paid by the Borrower and the Subsidiaries to third parties
(other than fees and expenses paid to Affiliates at prices or on terms and conditions less
favorable to the Borrower or any such Subsidiary than could be obtained on an arm’s-length basis
from unrelated third parties) in connection with such event, (ii) in the case of a sale, transfer
or other disposition of an asset (including pursuant to a sale and leaseback transaction or a
casualty or a condemnation or similar proceeding), the amount of all payments required to be made
by the Borrower and the Subsidiaries as a result of such event to repay Indebtedness (other than
Loans) secured by such asset, and (iii) the amount of all taxes paid (or reasonably estimated to be
payable) by the Borrower and the Subsidiaries, and the amount of any reserves established by the
Borrower and the Subsidiaries to fund contingent liabilities reasonably estimated to be payable
that are directly attributable to such event (as determined reasonably and in good faith by a
Financial Officer); provided that “Net Proceeds” shall include on a dollar-for-dollar basis all
amounts remaining in such reserve after such liability shall have been satisfied in full or
terminated.

          “Obligations” means all Loans, advances, debts, liabilities, obligations, covenants
and duties owing by the Borrower or any Subsidiary to the Lender, or any indemnified Person
hereunder, of any kind or nature, present or future, arising under this Agreement, any Collateral
Document or any other Loan Document, whether or not evidenced by any note, guaranty or other
instrument, whether or not for the payment of money, whether arising by reason of an extension of
credit, loan, guaranty, indemnification, or in any other manner, whether direct or indirect
(including those acquired by assignment), absolute or contingent, due or to become due, now
existing or hereafter arising and however acquired. The term includes all interest, charges,
expenses, fees, reasonable attorneys’ fees and disbursements, reasonable paralegals’ fees (in any
case, including such amounts which accrue after the commencement by or against any Credit Party of
any proceeding under any federal, state or foreign bankruptcy, insolvency, receivership or similar
law now or hereafter in effect, notwithstanding the commencement of such proceeding, and the
operation of Section 502(b)(2) of the United States Bankruptcy Code (11 U.S.C. §§ 101, et
seq.)), and any other sum chargeable to the Borrower or any Subsidiary under this Agreement
or any other Loan Document.

          “Off-Balance Sheet Liabilities” of a Person means (a) any repurchase obligation or
liability of such Person or any Subsidiary thereof with respect to receivables sold by such Person
or such Subsidiary, (b) any liability under any sale and leaseback transaction which does not
create a liability on the consolidated balance sheet of such Person or any Subsidiary thereof, (c)
any liability of such Person or any Subsidiary thereof under any financing lease, so-called
“synthetic” lease or “tax ownership operating lease” transaction, (d) any obligation under a
receivables purchase facility or other similar asset securitization transaction that would be
characterized as principal if such facility were structured as a secured lending transaction rather
than a purchase, or (e) any obligation of such Person or any Subsidiary thereof arising with

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respect to any other transaction which is the functional equivalent of or takes the place of
borrowing but which, in the case of the foregoing clauses, does not constitute a liability on the
consolidated balance sheet of such Person or any Subsidiary thereof.

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

          “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA
and any successor entity performing similar functions.

          “Permitted Deviation” means any deviation from any line item in the Budget that is not
a Material Adverse Deviation.

          “Permitted Encumbrances” means:

          (a) Liens imposed by law for taxes that are not yet due or are being contested in
compliance with Section 5.04;

          (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like
Liens imposed by law, arising in the ordinary course of business and securing obligations
that are not overdue by more than 30 days or are being contested in compliance with Section
5.04;

          (c) pledges and deposits made in the ordinary course of business in compliance with
workers’ compensation, unemployment insurance and other social security laws or regulations;

          (d) deposits to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds, performance bonds and other obligations of a like
nature, in each case in the ordinary course of business;

          (e) judgment liens in respect of judgments that do not constitute an Event of Default
under clause (k) of Article VII; and

          (f) easements, zoning restrictions, rights-of-way and similar encumbrances on real
property imposed by law or arising in the ordinary course of business that do not secure any
monetary obligations and do not materially detract from the value of the affected property
or interfere with the ordinary conduct of business of the Borrower or any Subsidiary;

provided that the term “Permitted Encumbrances” shall not include any Lien securing
Indebtedness.

          “Permitted Investments” means:

10

 

          (a) direct obligations of, or obligations the principal of and interest on which are
unconditionally guaranteed by, the United States of America, in each case maturing within
one year from the date of acquisition thereof;

          (b) investments in commercial paper maturing within 270 days from the date of
acquisition thereof and having, at such date of acquisition, a rating of at least A-2 from
S&P and at least P-2 from Moody’s;

          (c) investments in certificates of deposit, banker’s acceptances and time deposits
maturing within 180 days from the date of acquisition thereof issued or guaranteed by or
placed with, and money market deposit accounts issued or offered by, any domestic office of
any commercial bank organized under the laws of the United States of America or any State
thereof which has a combined capital and surplus and undivided profits of not less than
$500,000,000;

          (d) fully collateralized repurchase agreements with a term of not more than 30 days for
securities described in clause (a) above and entered into with a financial institution
satisfying the criteria described in clause (c) above;

          (e) money market funds that (i) comply with the criteria set forth in Securities and
Exchange Commission Rule 2a-7 under the Investment Company Act of 1940, (ii) are rated AAA
by S&P and Aaa by Moody’s and (iii) have portfolio assets of at least $5,000,000,000;

          (f) in the case of investments of any Foreign Subsidiary or non-domestic branch of the
Borrower, securities issued by any foreign government or any political subdivision of any
foreign government or any public instrumentality thereof having maturities of not more than
one year from the date of acquisition thereof and, at the time of acquisition thereof,
having an investment grade credit rating obtainable from S&P, Moody’s, or other generally
recognized rating agency; and

          (g) in the case of investments by any Foreign Subsidiary or non-domestic branch of the
Borrower, investments in time deposits maturing within one year from the date of acquisition
thereof issued or guaranteed by or placed with any highly capitalized commercial bank which
is located in the jurisdiction where such non-domestic branch of the Borrower or such
Foreign Subsidiary is located and which bank has an investment grade credit rating
obtainable from S&P, Moody’s or other generally recognized rating agency.

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

          “Plan” means any employee pension benefit plan (other than a Multiemployer Plan)
subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA,
and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated,
would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of
ERISA.

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          “Pledge and Security Agreement” means that certain Pledge and Security Agreement,
dated as of the Effective Date, by and among the Credit Parties party thereto and the Lender, as
the same may be amended, restated, supplemented or otherwise modified from time to time.

          “Prime Rate” means for any day the prime rate as published for each Business Day (or
if such a day is not a Business Day, the immediately preceding Business Day) in the Wall Street
Journal under the caption “Money Rates, Prime Rate.”

          “Regulation U” means Regulation U of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor or other regulation or official
interpretation of said Board of Governors relating to the extension of credit by banks for the
purpose of purchasing or carrying margin stocks applicable to member banks of the Federal Reserve
System.

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

          “Restricted Payment” means any dividend or other distribution (whether in cash,
securities or other property) with respect to any Equity Interests in the Borrower or any
Subsidiary, or any payment (whether in cash, securities or other property), including any sinking
fund or similar deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination of any such Equity Interests in the Borrower or any option, warrant or
other right to acquire any such Equity Interests in the Borrower.

          “S&P” means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc.

          “Sale and Leaseback Transaction” means any sale or other transfer of assets or
property by any Person with the intent to lease any such asset or property as lessee.

          “subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the accounts of
which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP as of such date, as
well as any other corporation, limited liability company, partnership, association or other entity
(a) of which securities or other ownership interests representing more than 50% of the equity or
more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the
general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as
of such date, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by
the parent and one or more subsidiaries of the parent.

          “Subsidiary” means any subsidiary of the Borrower.

          “Subsidiary Guarantor” means each Subsidiary of the Borrower (other than any Affected
Foreign Subsidiary) which executes a Credit Parties Guaranty in favor of the Lender.

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          “Swap Agreement” means any agreement with respect to any swap, forward, future or
derivative transaction or option or similar agreement involving, or settled by reference to, one or
more rates, currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value or any
similar transaction or any combination of these transactions; provided that no phantom
stock or similar plan providing for payments only on account of services provided by current or
former directors, officers, employees or consultants of the Borrower or the Subsidiaries shall be a
Swap Agreement.

          “Taxes” means any and all present or future taxes, levies, imposts, duties,
deductions, charges or withholdings imposed by any Governmental Authority.

          “TDU License Agreements” shall mean the TDU Trademark License Agreement and the TDU
Other IP License Agreement, collectively.

          “TDU Other IP License Agreement” shall mean that certain General Intellectual Property
and Proprietary Rights (Other Than Trademark Rights) License of the Test Drive Franchise, dated as
of November 8, 2007 between the Borrower, as licensor, and IESA, as licensee, in respect of the
video game called “Test Drive Unlimited” and the intellectual property and proprietary rights
associated therewith, as amended, amended and restated, supplemented or otherwise modified from
time to time with the prior consent of the Lender.

          “TDU Trademark License Agreement” means that certain Trademark License of the Test
Drive Franchise, dated as of November 8, 2007 between the Borrower, as licensor, and IESA, as
licensee, in respect of the video game called “Test Drive Unlimited” and the trademarks associated
therewith, as amended, amended and restated, supplemented or otherwise modified from time to time
with the prior consent of the Lender.

          “Total Consideration” means the total consideration and other amounts payable in
connection with any Acquisition, including any portion of the consideration payable in cash, any
consideration constituting the deferred purchase price for such Acquisition and all Indebtedness,
liabilities and contingent obligations incurred or assumed in connection with such Acquisition.

          “Transactions” means the execution, delivery and performance by the Borrower of this
Agreement and the other Loan Documents, the borrowing of Loans and the use of the proceeds thereof.

          “Type”, when used in reference to any Loan, refers to whether the rate of interest on
such Loan is determined by reference to the LIBO Rate or the Alternate Base Rate.

          “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a
complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of
Subtitle E of Title IV of ERISA.

          SECTION 1.02. Classification of Loans. For purposes of this Agreement, Loans may be
classified and referred to by Type (e.g., a “Eurodollar Loan”).

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          SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally to
the singular and plural forms of the terms defined. Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The
word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the
context requires otherwise (a) any definition of or reference to any agreement, instrument or other
document herein shall be construed as referring to such agreement, instrument or other document as
from time to time amended, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (b) any reference herein to any Person
shall be construed to include such Person’s successors and assigns, (c) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this
Agreement in its entirety and not to any particular provision hereof, (d) all references herein to
Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of,
and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be
construed to have the same meaning and effect and to refer to any and all tangible and intangible
assets and properties, including cash, securities, accounts and contract rights.

          SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein,
all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in
effect from time to time; provided that, if the Borrower notifies the Lender that the Borrower
requests an amendment to any provision hereof to eliminate the effect of any change occurring after
the date hereof in GAAP or in the application thereof on the operation of such provision (or if the
Lender notifies the Borrower that the Lender requests an amendment to any provision hereof for such
purpose), regardless of whether any such notice is given before or after such change in GAAP or in
the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect
and applied immediately before such change shall have become effective until such notice shall
have been withdrawn or such provision amended in accordance herewith.

ARTICLE II

The Credits

          SECTION 2.01. Commitment. Subject to the terms and conditions hereof, the Lender
shall make Loans in an aggregate amount up to the Aggregate Commitment, which Loans shall be
available for draw from time to time during the Availability Period. Loans repaid may not be
reborrowed, except that Loans prepaid from excess cash under and in accordance with Section 2.05(f)
may be reborrowed subject to the terms and conditions hereof, including Section 2.02 (provided that
in no event shall the aggregate outstanding principal balance of all Loans exceed the amount of the
Aggregate Commitment).

          SECTION 2.02. Loans.

          (a) Subject to Section 2.07, each Loan shall be a Eurodollar Loan and maintained as such. The
Lender at its option may make any Loan by causing any domestic or French Affiliate of the Lender to
make such a Loan; provided that any exercise of such option

14

 

shall not affect the obligation of the Borrower to repay such Loan in accordance with the
terms of this Agreement.

          (b) Each Loan shall be in a minimum amount of $100,000 and shall not exceed one hundred and
twenty percent (120%) of the cash shortfall of the Borrower as projected in the Budget for the week
following the date such Loan is made.

          (c) The Borrower shall not request, and the Lender shall not provide, more than one (1) Loan
during any seven (7) day period during the Availability Period.

          (d) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled
to request, or to elect to convert or continue, any Loan if the Interest Period with respect
thereto would end after the Maturity Date.

          SECTION 2.03. Requests for Borrowings. To request a Loan, the Borrower shall notify
the Lender of such request by telephone not later than 11:00 a.m., New York City time, three (3)
Business Days before the date of the proposed Loan. Each such telephonic Borrowing Request shall
be irrevocable and shall be confirmed promptly by hand delivery or facsimile to the Lender of a
written Borrowing Request in a form approved by the Lender and signed by the Borrower. Each such
telephonic and written Borrowing Request shall specify the following information in compliance with
Section 2.02:

     (i) the amount of the requested Loan;

     (ii) the date of such Loan, which shall be a Business Day; and

     (iii) the location and number of the Borrower’s account to which funds are to
be disbursed.

All Loans shall have an Interest Period equal to one month.

          SECTION 2.04. Repayment of Loans; Evidence of Debt.

          (a) The Borrower hereby unconditionally promises to pay to the Lender the then unpaid
principal amount of the Loans on the Maturity Date.

          (b) The Lender shall maintain an account or accounts evidencing the indebtedness of the
Borrower to the Lender resulting from the Loans, including the amount and type of each Loan, and
the amounts of principal and interest payable and paid to the Lender from time to time hereunder.

          (c) The entries made in the accounts maintained pursuant to paragraph (b) of this Section
shall be prima facie evidence of the existence and amounts of the obligations
recorded therein; provided that the failure of the Lender to maintain such accounts or any
error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in
accordance with the terms of this Agreement.

15

 

          (d) The Lender may request that Loans be evidenced by a promissory note. In such event, the
Borrower shall prepare, execute and deliver to the Lender a promissory note payable to the order of
the Lender. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at
all times be represented by a promissory note in such form payable to the order of the Lender.

          SECTION 2.05. Prepayment of Loans.

          (a) The Borrower shall have the right at any time and from time to time to prepay any Loan in
whole or in part, provided that the Borrower pays the funding compensation required by Section 2.09
and such prepayment is in a minimum amount equal to $100,000 or any integral multiple of $100,000
in excess thereof.

          (b) In the event and on such occasion the Borrower or any Subsidiary receives Net Proceeds
from the issuance or sale by the Borrower or any Subsidiary of any Equity Interests, in each case
within three (3) Business Days after the Borrower’s or any Subsidiaries’ receipt of such Net
Proceeds, the Borrower shall make a mandatory prepayment of the Loans in an aggregate amount equal
to 100% of such Net Proceeds; provided, however, that, so long as no Event of Default has occurred
and is continuing, no such repayment shall be applied without the Borrower’s consent to any
Eurodollar Loan until the last day of the Interest Period therefor.

          (c) In the event and on such occasion the Borrower or any Subsidiary receives Net Proceeds
from the incurrence by the Borrower or any Subsidiary of any Indebtedness not permitted pursuant to
Section 6.01, within three (3) Business Days after the Borrower’s or any Subsidiaries’ receipt of
such Net Proceeds the Borrower shall make a mandatory prepayment of the Loans in an aggregate
amount equal to 100% of such Net Proceeds; provided, however, that, so long as no Event of Default
has occurred and is continuing, no such repayment shall be applied without Borrower’s consent to
any Eurodollar Rate Loan until the last day of the Interest Period therefor.

          (d) In the event and on such occasion the Borrower or any Subsidiary receives any Net Proceeds
from the sale, transfer, lease or other disposition (including pursuant to a sale and leaseback
transaction) of any property or asset of any Borrower or any Subsidiary, other than (i)
dispositions described Section 6.10 and (ii) other dispositions resulting in aggregate Net Proceeds
not exceeding (A) $100,000 in the case of any single transaction or series of related transactions
or (B) $250,000 for all such dispositions during any fiscal year of the Borrower, in each case
within three (3) Business Days after the Borrower’s or any Subsidiary’s receipt of such Net
Proceeds, the Borrower shall make a mandatory prepayment of the Loans in an aggregate amount equal
to 100% of such Net Proceeds; provided, however, that, so long as no Event of Default has occurred
and is continuing, no such repayment shall be applied without Borrower’s consent to any Eurodollar
Rate Loan until the last day of the Interest Period therefor.

          (e) In the event and on such occasion the Borrower or any Subsidiary receives any Net Proceeds
from any casualty or other insured damage to, or any taking under power of eminent domain or by
casualty or other insured damage to, or any taking under power of eminent domain or by condemnation
or similar proceeding of, any property or asset of the Borrower or any Subsidiary, within three (3)
Business Days after the Borrower’s or any Subsidiaries’ receipt

16

 

of such Net Proceeds, the Borrower shall, except as otherwise permitted below, make a
mandatory prepayment of the Loans in an aggregate amount equal to 100% of such Net Proceeds, but
only to the extent that (i) the Net Proceeds therefrom have not been applied to repair, restore or
replace such property or asset or to acquire real property, equipment or other tangible assets to
be used in the business of the Borrower and the Subsidiaries within 90 days after receipt of such
Net Proceeds or (ii) a written contract or agreement has not been entered into during such 90-day
period to so apply such Net Proceeds during the period ending 180 days after such receipt;
provided, however, that, so long as no Event of Default has occurred and is continuing, no such
repayment shall be applied without Borrower’s consent to any Eurodollar Loan until the last day of
the Interest Period therefor.

          (f) On the last Business Day of each calendar month, the Borrower shall make a mandatory
prepayment of the Loans in an amount equal to the amount by which the Borrower’s cash receipts
(excluding Loan proceeds) exceeded the Borrower’s cash disbursements during the most recently
completed four (4) calendar weeks, as determined by reference to the most recently delivered
Certified Variance Report.

          (g) Prior to any optional or prepayment of Loans hereunder, the applicable Borrower shall
select the Loan or Loans to be prepaid and shall specify such selection in the notice of such
prepayment.

          (h) The terms of this Section 2.05 are subject to the terms of the Temporary Liquidity
Facility Intercreditor Agreement.

          SECTION 2.06. Interest.

          (a) Each ABR Loan shall bear interest at the Alternate Base Rate plus the Applicable
Rate.

          (b) Each Eurodollar Loan shall bear interest at the LIBO Rate for the Interest Period in
effect for such Loan plus the Applicable Rate.

          (c) Notwithstanding the foregoing, upon the occurrence and during the continuance of any Event
of Default, interest shall accrue at the rate per annum equal to two percent (2%) in excess of (i)
in the case of the unpaid principal amount of any Loan, the rate otherwise applicable to such Loan
as provided in the previous paragraphs of this Section, and (ii) in the case of any other amount,
the rate applicable to ABR Loans as provided in paragraph (a) of this Section.

          (d) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date
for such Loan; provided that (i) interest accrued pursuant to paragraph (c) of this Section
shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other
than a prepayment of an ABR Loan prior to the end of the Availability Period), accrued interest on
the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment
and (iii) in the event of any conversion of any Eurodollar Loan prior to the end of the current
Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of
such conversion.

17

 

          (e) All interest hereunder shall be computed on the basis of a year of 360 days, except that
interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is
based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap
year), and in each case shall be payable for the actual number of days elapsed (including the first
day but excluding the last day). The applicable Alternate Base Rate or LIBO Rate shall be
determined by the Lender, and such determination shall be conclusive absent manifest error.

          SECTION 2.07. Alternate Rate of Interest. If prior to the commencement of any
Interest Period for a Eurodollar Loan:

          (a) the Lender determines (which determination shall be conclusive absent manifest error) that
adequate and reasonable means do not exist for ascertaining the LIBO Rate for such Interest Period;

          (b) the Lender determines (which determination shall be conclusive absent manifest error) that
the LIBO Rate for such Interest Period will not adequately and fairly reflect the cost to the
Lender of making or maintaining such Loan for such Interest Period; or

          (c) the Lender determines (which determination shall be conclusive absent manifest error) that
maintenance of the Eurodollar Loans or booking the Loans hereunder would violate any applicable
law, rule, regulation or directive, whether or not having the force of law;

then the Lender shall give notice thereof to the Borrower by telephone or facsimile as promptly as
practicable thereafter and, until the Lender notifies the Borrower that the circumstances giving
rise to such notice no longer exist, such Loan shall be made as an ABR Loan; provided that
if the circumstances giving rise to such notice affect only one Type of Loans, then the other Type
of Loans shall be permitted.

          SECTION 2.08. Increased Costs.

          (a) If any Change in Law shall:

     (i) impose, modify or deem applicable any reserve, special deposit or similar
requirement against assets of, deposits with or for the account of, or credit
extended by, the Lender (except any such reserve requirement reflected in the LIBO
Rate); or

     (ii) impose on the Lender or the London interbank market any other condition
affecting this Agreement or Eurodollar Loans;

and the result of any of the foregoing shall be to increase the cost to the Lender of making or
maintaining its share of any Eurodollar Loan (or of maintaining its obligation to make its share of
any such Loan) or to reduce the amount of any sum received or receivable by the Lender hereunder
(whether of principal, interest or otherwise), then the Borrower will pay to the Lender such
additional amount or amounts as will compensate the Lender for such additional costs incurred or
reduction suffered.

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          (b) A certificate of the Lender setting forth the amount or amounts necessary to compensate
the Lender as specified in paragraph (a) of this Section shall be delivered to the Borrower and
shall be conclusive absent manifest error. The Borrower shall pay the Lender the amount shown as
due on any such certificate within 10 days after receipt thereof.

          (c) Failure or delay on the part of the Lender to demand compensation pursuant to this Section
shall not constitute a waiver of the Lender’s right to demand such compensation; provided
that the Borrower shall not be required to compensate the Lender pursuant to this Section for any
increased costs or reductions incurred more than 270 days prior to the date that the Lender
notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of
the Lender’s intention to claim compensation therefor; provided further that, if
the Change in Law giving rise to such increased costs or reductions is retroactive, then the
270-day period referred to above shall be extended to include the period of retroactive effect
thereof.

          SECTION 2.09. Break Funding Payments. In the event of

          (a) the payment of any principal of any Eurodollar Loan other than on the last day of an
Interest Period applicable thereto (including as a result of an Event of Default),

          (b) the failure to borrow or prepay any Loan on the date specified in any notice delivered
pursuant hereto,

then, in any such event, the Borrower shall compensate the Lender for any loss, cost and expense
attributable to such event. In the case of a Eurodollar Loan, such loss, cost or expense to the
Lender shall be deemed to include an amount determined by the Lender to be the excess, if any, of

     (i) the amount of interest which would have accrued on the principal amount of
such Loan had such event not occurred, at the LIBO Rate that would have been
applicable to such Loan, for the period from the date of such event to the last day
of the then current Interest Period therefor (or, in the case of a failure to
borrow, convert or continue, for the period that would have been the Interest Period
for such Loan), over

     (ii) the amount of interest which would accrue on such principal amount for
such period at the interest rate which the Lender would bid were it to bid, at the
commencement of such period, for dollar deposits of a comparable amount and period
from other banks in the eurodollar market. A certificate of the Lender setting
forth any amount or amounts that the Lender is entitled to receive pursuant to this
Section shall be delivered to the Borrower and shall be conclusive absent manifest
error. The Borrower shall pay the Lender the amount shown as due on any such
certificate within 10 days after receipt thereof.

          SECTION 2.10. Taxes.

          (a) Any and all payments by or on account of any obligation of the Borrower hereunder shall be
made free and clear of and without deduction for any Indemnified Taxes or

19

 

Other Taxes; provided that if the Borrower shall be required to deduct any Indemnified
Taxes or Other Taxes from such payments, then

     (i) the sum payable shall be increased as necessary so that after making all
required deductions (including deductions applicable to additional sums payable
under this Section) the Lender receives an amount equal to the sum it would have
received had no such deductions been made,

     (ii) the Borrower shall make such deductions and

     (iii) the Borrower shall pay the full amount deducted to the relevant
Governmental Authority in accordance with applicable law.

          (b) In addition, the Borrower shall pay any Other Taxes to the relevant Governmental Authority
in accordance with applicable law.

          (c) The Borrower shall indemnify the Lender, within 10 days after written demand therefor, for
the full amount of any Indemnified Taxes or Other Taxes paid by the Lender on or with respect to
any payment by or on account of any obligation of the Borrower hereunder or under any other Loan
Document (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to
amounts payable under this Section) and any penalties, interest and reasonable expenses arising
therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as
to the amount of such payment or liability delivered to the Borrower by the Lender shall be
conclusive absent manifest error.

          (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the
Borrower to a Governmental Authority, the Borrower shall deliver to the Lender the original or a
certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy
of the return reporting such payment or other evidence of such payment reasonably satisfactory to
the Lender.

          (e) If the Lender is entitled to an exemption from or reduction of withholding tax under the
law of the jurisdiction in which the Borrower is located, or any treaty to which such jurisdiction
is a party, with respect to payments under this Agreement, the Lender shall deliver to the
Borrower, at the time or times prescribed by applicable law, such properly completed and executed
documentation prescribed by applicable law or reasonably requested by the Borrower as will permit
such payments to be made without withholding or at a reduced rate.

          (f) If the Lender determines, in its sole discretion, that it has received a refund of any
Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to which
the Borrower has paid additional amounts pursuant to this Section 2.10, it shall pay over such
refund to the Borrower (but only to the extent of indemnity payments made, or additional amounts
paid, by the Borrower under this Section 2.10 with respect to the Taxes or Other Taxes giving rise
to such refund), net of all out-of-pocket expenses of the Lender and without interest (other than
any interest paid by the relevant Governmental Authority with respect to such refund); provided,
that the Borrower, upon the request of the Lender, agrees to repay the amount paid over to the
Borrower (plus any penalties, interest or other charges

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imposed by the relevant Governmental Authority) to the Lender in the event the Lender is
required to repay such refund to such Governmental Authority. This Section shall not be construed
to require the Lender to make available its tax returns (or any other information relating to its
taxes which it deems confidential) to the Borrower or any other Person.

          SECTION 2.11. Payments Generally.

          (a) The Borrower shall make each payment required to be made by it hereunder or under any
other Loan Document (whether of principal, interest, fees, or of amounts payable under Section
2.08, 2.09 or 2.10, or otherwise) prior to the time expressly required hereunder or under such
other Loan Document for such payment (or, if no time is expressly required, prior to 12:00 noon,
New York City time) on the date when due, in immediately available funds, without set-off or
counterclaim. Any amounts received after such time on any date may, in the discretion of the
Lender, be deemed to have been received on the next succeeding Business Day for purposes of
calculating interest thereon. All such payments shall be made to the Lender at its main offices at
New York, New York or to such other office within the United States of America as otherwise
designated from time to time by the Lender, except that payments pursuant to Sections 2.08, 2.09,
2.10 and 8.03 shall be made directly to the Persons entitled thereto. If any payment hereunder of
under any other Loan Document shall be due on a day that is not a Business Day, the date for
payment shall be extended to the next succeeding Business Day, and, in the case of any payment
accruing interest, interest thereon shall be payable for the period of such extension. All
payments hereunder or under any other Loan Document shall be made in dollars.

          (b) If at any time insufficient funds are received by and available to the Lender to pay fully
all amounts of principal, interest and fees then due hereunder, such funds shall be applied first
towards payment of the Lender’s costs and expenses, if any, then accrued hereunder, then to
payments of interest and fees then due hereunder, and then to payments of principal then due
hereunder.

ARTICLE III

Representations and Warranties

          The Borrower represents and warrants to the Lender that:

          SECTION 3.01. Organization; Powers. The Borrower is duly organized, validly existing
and in good standing under the laws of the jurisdiction of its organization, has all requisite
power and authority to carry on its business as now conducted or proposed to be conducted and,
except where the failure to do so, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect, is qualified to do business in, and is in good
standing in, every jurisdiction where such qualification is required. The Merger Disclosures
identify the Borrower and each Subsidiary, the jurisdiction of its incorporation or organization,
as the case may be, the percentage of issued and outstanding shares of each class of its capital
stock or other equity interests owned by the Borrower or such Subsidiary, and, if such percentage
is not 100% (excluding directors’ qualifying shares as required by law), a description of each
class issued and outstanding. All of the outstanding shares of capital stock and other

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equity interests of the Borrower are validly issued and outstanding and fully paid and
nonassessable and all such shares and other equity interests indicated on the Merger Disclosures as
owned by the Borrower are owned, beneficially and of record, by the Borrower free and clear of all
Liens (other than Liens created by the Collateral Documents).

          SECTION 3.02. Authorization; Enforceability. The Transactions are within the
Borrower’s corporate or other organizational powers, as applicable, and have been duly authorized
by all necessary corporate or other organizational action and, if required, stockholder or other
equity holder action, as applicable. This Agreement, and each of the other Loan Documents, has
been duly executed and delivered by the Borrower and constitutes a legal, valid and binding
obligation of the Borrower, enforceable in accordance with its terms, subject to applicable
bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights
generally and subject to general principles of equity, regardless of whether considered in a
proceeding in equity or at law and to requirements of reasonableness, good faith and fair dealing.

          SECTION 3.03. Governmental Approvals; No Conflicts. Except as set forth on the Merger
Disclosures, the Transactions

          (a) do not require any consent or approval of, registration or filing with, or any other
action by, any Governmental Authority, except such as have been obtained or made and are in full
force and effect,

          (b) will not violate any applicable law or regulation or the charter, by-laws or other
organizational documents of the Borrower or any order of any Governmental Authority,

          (c) will not violate or result in a default under any indenture, agreement or other instrument
binding upon the Borrower or its assets, or give rise to a right thereunder to require any payment
to be made by the Borrower, and

          (d) will not result in the creation or imposition of any Lien on any asset of the Borrower
except Liens created under the Loan Documents.

          SECTION 3.04. Financial Condition; No Material Adverse Change. The Borrower has
heretofore furnished to the Lender its consolidated balance sheet and statements of income,
stockholders equity and cash flows (i) as of and for the fiscal year ended March 31, 2007 reported
on by Deloitte & Touche LLP, independent public accountants and (ii) as of and for the fiscal
quarter and the portion of the fiscal year ended December 31, 2007, certified by a Financial
Officer. Such financial statements present fairly, in all material respects, the financial
position and results of operations and cash flows of the Borrower and its consolidated Subsidiaries
as of such dates and for such periods in accordance with GAAP.

          SECTION 3.05. Subsidiaries. A correct and complete list of all Subsidiaries of the
Borrower and their respective jurisdictions of organization is set forth in the Merger Disclosures.
Except as set forth in the Merger Disclosures, to the Knowledge of the Borrower, (a) each of the
Subsidiaries of the Borrower is directly or indirectly wholly owned by the Borrower, and the equity
of each such Subsidiary is owned free and clear of any Liens, (b) the Borrower does not own,
directly or indirectly, any capital stock of, or any other securities convertible or exchangeable
into or exercisable for capital stock of, any Person other than the

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Subsidiaries of the Borrower, and (c) each of the Subsidiaries does not conduct any business
or other activities, is inactive, is not party to any Contracts and has no employees, minimal
assets and no liabilities. As used in this section only, “Knowledge” means the actual
knowledge of Jim Wilson, Kristina Pappa and Arturo Rodriguez.

          SECTION 3.06. Properties.

          (a) The Borrower has good title to, or valid leasehold interests in, all its real and personal
property material to its business, except for minor defects in title that do not interfere with its
ability to conduct its business as currently conducted or to utilize such properties for their
intended purposes.

          (b) The Borrower owns, or is licensed to use, all trademarks, tradenames, copyrights, patents
and other intellectual property material to its business, and the use thereof by the Borrower does
not infringe upon the rights of any other Person, except for any such infringements that,
individually or in the aggregate, could not reasonably be expected to result in a Material Adverse
Effect.

          (c) The Merger Disclosures set forth the address of each parcel of real property that is
owned, and each material parcel of property that is leased, by the Borrower or any of the
Subsidiaries.

          SECTION 3.07. Litigation and Labor Matters.

          (a) There are no actions, suits or proceedings by or before any arbitrator or Governmental
Authority pending against or, to the knowledge of the Borrower, threatened against or affecting,
the Borrower or any of its Subsidiaries (i) that, if adversely determined, could reasonably be
expected, individually or in the aggregate, to result in a Material Adverse Effect (except for the
Disclosed Matters) or (ii) that involve this Agreement or the Transactions.

          (b) There are no labor controversies pending against or, to the knowledge of the Borrower,
threatened against or affecting the Borrower or any of its Subsidiaries (i) which could reasonably
be expected, individually or in the aggregate, to result in a Material Adverse Effect (except for
the Disclosed Matters), or (ii) that involve this Agreement or the Transactions.

          SECTION 3.08. Compliance with Laws and Agreements; No Burdensome Restrictions.

          (a) Except for Disclosed Matters, the Borrower is in compliance with all laws, regulations and
orders of any Governmental Authority applicable to it or its property and all indentures,
agreements and other instruments binding upon it or its property, except where the failure to do
so, individually or in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect. The Borrower is not in default in the performance, observance or fulfillment of
any of the obligations, covenants or conditions contained in any (i) agreement or instrument to
which it is a party, which default would reasonably be expected to have a Material Adverse Effect
(except for Disclosed Matters) or (ii) any agreement or instrument evidencing or governing
Indebtedness.

23

 

          (b) The Borrower is not party or subject to any law, regulation, rule or order, or any
obligation under any agreement or instrument, that has a Material Adverse Effect.

          (c) The Borrower is not in default in the performance, observance or fulfillment of any of the
obligations, covenants or conditions contained in any (i) agreement or instrument to which it is a
party, which default would reasonably be expected to have a Material Adverse Effect (except for
Disclosed Matters) or (ii) any agreement or instrument evidencing or governing Indebtedness.

          SECTION 3.09. Investment Company Status. The Borrower is not an “investment company”
as defined in, or subject to regulation under, the Investment Company Act of 1940.

          SECTION 3.10. Taxes. The Borrower has timely filed or caused to be filed all Tax
returns and reports required to have been filed and has paid or caused to be paid all Taxes shown
thereon as required to have been paid by it, except (a) Taxes that are being contested in good
faith by appropriate proceedings and for which the Borrower has set aside on its books adequate
reserves in accordance with GAAP or (b) to the extent that the failure to do so could not
reasonably be expected to result in a Material Adverse Effect.

          SECTION 3.11. ERISA. No ERISA Event has occurred or is reasonably expected to occur
that, when taken together with all other such ERISA Events for which liability has occurred or is
reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect.
The present value of all accumulated benefit obligations under each Plan (based on the assumptions
used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date of
the most recent financial statements reflecting such amounts, exceed by more than $1,000,000 the
fair market value of the assets of such Plan, and the present value of all accumulated benefit
obligations of all underfunded Plans (based on the assumptions used for purposes of Statement of
Financial Accounting Standards No. 87) did not, as of the date of the most recent financial
statements reflecting such amounts, exceed by more than $1,000,000 the fair market value of the
assets of all such underfunded Plans.

          SECTION 3.12. Disclosure. The Borrower has disclosed to the Lender (either herein or
in the Disclosed Matters) all contractual, corporate or other restrictions to which it or any of
its Subsidiaries is subject, and all other matters known to it, that, individually or in the
aggregate, could reasonably be expected to result in a Material Adverse Effect. The reports,
financial statements, certificates or other information furnished by or on behalf of the Borrower
to the Lender in connection with the negotiation of this Agreement or delivered hereunder (as
modified or supplemented by other information so furnished) in the aggregate do not contain any
material misstatement of fact or omits to state any material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading;
provided that, with respect to projected financial information, the Borrower represents
only that such information was prepared in good faith based upon assumptions believed to be
reasonable at the time.

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          SECTION 3.13. No Default. The Borrower is in compliance in all material respects with
the terms and conditions of this Agreement, and no Default has occurred and is continuing.

          SECTION 3.14. Liens. There are no Liens on any of the real or personal properties of
the Borrower or any Subsidiary except for Liens permitted by Section 6.02.

          SECTION 3.15. Contingent Obligations. Other than any liability incident to any
litigation, arbitration or proceeding which could not reasonably be expected to have a Material
Adverse Effect (except for Disclosed Matters), the Borrower has no material contingent obligations
not provided for or disclosed in the financial statements referred to in Section 3.04.

          SECTION 3.16. Regulation U.

          (a) Margin stock (as defined in Regulation U) constitutes less than 25% of the value of those
assets of the Borrower and its Subsidiaries which are subject to any limitation on sale, pledge, or
other restriction hereunder.

          (b) The Borrower shall use the proceeds of the Loans solely for the purposes set forth in
Section 5.08. No part of the proceeds of the Loans will be used, directly or indirectly, for the
purpose of purchasing or carrying any margin stock within the meaning of Regulation U of the Board
or to extend credit to others for the purpose of purchasing or carrying any such margin stock.

          SECTION 3.17. Insurance. The Borrower maintains, with financially sound and reputable
insurance companies, insurance in such amounts and against such risks as are customarily maintained
by companies engaged in the same or similar businesses operating in the same or similar locations.
The Merger Disclosures set forth a description of all material insurance maintained by or on behalf
of the Borrower as of the Effective Date. As of the Effective Date, all premiums in respect of
such insurance that are due and payable have been paid. The Borrower believes that the insurance
maintained by or on behalf of the Borrower is adequate.

          SECTION 3.18. Collateral Documents. The Collateral Documents create, as security for
the obligations purported to be secured thereby, a valid and enforceable interest in and Lien on
all of the properties covered thereby in favor of the Lender, and upon the filing of any financing
statements, notices or mortgages contemplated thereby in the offices specified therein, such Liens
(other than Liens permitted under Section 6.02 and the Collateral Documents) shall be superior to
and prior to the right of all third Persons and subject to no other Liens (excluding any Liens
existing under or in connection with the BlueBay Credit Agreement).

ARTICLE IV

Conditions

          SECTION 4.01. Conditions Precedent to Closing. The obligations of the Lender to make
Loans shall not become effective until the date on which each of the following conditions is
satisfied (or waived in accordance with Section 8.02):

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          (a) The Lender (or its counsel) shall have received from each party hereto either (i) a
counterpart of this Agreement signed on behalf of such party or (ii) written evidence satisfactory
to the Lender (which may include facsimile transmission of a signed signature page of this
Agreement) that such party has signed a counterpart of this Agreement.

          (b) The Lender shall have received a favorable written opinion (addressed to the Lender and
dated the Effective Date) of Milbank, Tweed, Hadley & McCloy LLP, counsel for the Borrower,
covering such matters as the Lender shall request.

          (c) The Lender shall have received such documents and certificates as the Lender or its
counsel may reasonably request relating to (i) the organization, existence and good standing of the
Borrower, (ii) the authorization of the Transactions and (iii) any other legal matters relating to
the Credit Parties, this Agreement or the Transactions, all in form and substance satisfactory to
the Lender and its counsel.

          (d) All governmental and third party approvals necessary or, in the discretion of the Lender,
advisable in connection with the financing contemplated hereby and the continuing operations of the
Borrower and its Subsidiaries shall have been obtained and be continuing in full force and effect.

          (e) The Lender shall have received a certificate, dated the Effective Date and signed by the
President, a Vice President or a Financial Officer of the Borrower, confirming compliance with the
conditions set forth in paragraphs (a) and (b) of Section 4.02.

          (f) The Lender shall have received all amounts due and payable on or prior to the Effective
Date, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses
required to be reimbursed or paid by the Borrower hereunder.

          (g) All other legal and regulatory matters shall be satisfactory to the Lender.

          (h) Except for Disclosed Matters, there shall be no pending or threatened litigation,
arbitration, administrative proceeding or consent decree that would reasonably be expected to (a)
result in a Material Adverse Effect (except for Disclosed Matters) or (b) have a material adverse
effect on the ability of the Credit Parties to consummate the Transactions.

          (i) The Lender shall have received evidence that the BlueBay Credit Agreement is in effect,
that no “event of default” or event that with the giving of notice or the passage of time or both
would become an “event of default” has occurred and is continuing thereunder and that all amounts
which may be advanced thereunder to the Borrower have been advanced.

          (j) The Lender shall have received such documents and certificates as the Lender or its
counsel may request, all in form and substance satisfactory to the Lender and its counsel and as
further described in the list of closing documents attached as Exhibit C hereto.

The Lender shall notify the Borrower of the Effective Date, and such notice shall be conclusive and
binding. Notwithstanding the foregoing, the obligations of the Lender to make Loans hereunder
shall not become effective unless each of the foregoing conditions is satisfied (or

26

 

waived pursuant to Section 8.02) at or prior to 3:00 p.m., New York City time, on the date hereof
(and, in the event such conditions are not so satisfied or waived, the Commitment shall terminate
at such time).

          SECTION 4.02. Conditions Precedent to Each Loan. The obligation of the Lender to make
a Loan on the submission by the Borrower of a Borrowing Request, is subject to the satisfaction of
the following conditions:

          (a) The representations and warranties of the Borrower and its Subsidiaries set forth in this
Agreement and each other Loan Document shall be true and correct in all material respects on and as
of the date of such Borrowing, except to the extent that such representations or warranties were
made with respect to a specific date.

          (b) At the time of and immediately after making such Loan no Default or Event of Default shall
have occurred and be continuing.

          (c) Since the date of this Agreement, there shall not have occurred a “Company Material
Adverse Effect” (as that term is defined in the Merger Agreement) and the Borrower shall not have
failed to satisfy any of the conditions set forth in Sections 6.2(a), (b), (d), (e) or (i) of the
Merger Agreement (other than any of such conditions that have been waived).

          (d) The Merger Agreement shall not have been terminated by any party in accordance with its
terms or otherwise ceased to be in full force and effect against any party thereto for any reason.

ARTICLE V

Affirmative Covenants

          Until the Commitment has expired or been terminated and the principal of and interest on the
Loans and all fees payable hereunder shall have been paid in full, the Borrower covenants and
agrees with the Lender that:

          SECTION 5.01. Financial Statements and Other Information. The Borrower will furnish
to the Lender:

          (a) within 90 days after the end of each fiscal year of the Borrower, its audited consolidated
balance sheet and related statements of operations, stockholders’ equity and cash flows as of the
end of and for such year, setting forth in each case in comparative form the figures for the
previous fiscal year, all reported on by JH Cohn LLP or other independent public accountants of
recognized national standing (without any qualification or exception as to the scope of such audit)
to the effect that such consolidated financial statements present fairly in all material respects
the financial condition and results of operations of the Borrower and its consolidated Subsidiaries
on a consolidated basis in accordance with GAAP consistently applied;

          (b) within 45 days after the end of each fiscal quarter of each fiscal year of the Borrower,
its consolidated balance sheet and related statements of operations, stockholders’

27

 

equity and cash flows as of the end of and for such fiscal quarter and the then elapsed
portion of the fiscal year, setting forth in each case in comparative form the figures for the
corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the
previous fiscal year and the figures budgeted for the fiscal quarter reported on, all certified by
one of its Financial Officers as presenting fairly in all material respects the financial condition
and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis
in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the
absence of footnotes;

          (c) within thirty (30) days after the end of each month, an unaudited balance sheet and
unaudited statements of income and stockholders’ equity and cash flow of Borrower on a consolidated
basis reflecting results of operations from the beginning of the fiscal year to the end of such
month and for such month, prepared on a basis consistent with prior practices and complete and
correct in all material respects, subject to normal year end audit adjustments and the absence of
footnotes. Each such balance sheet, statement of income and stockholders’ equity and statement of
cash flow shall set forth a comparison of the figures for (x) the current fiscal period and the
current year-to-date with the figures for (y) the same fiscal period and year-to-date period of the
immediately preceding fiscal year and (z) the figures budgeted for the month reported on;

          (d) concurrently with any delivery of financial statements under clause (c) above, but in any
event not less than within thirty (30) days after the end of each month, a certificate
(substantially in the form of Exhibit A hereto) of a Financial Officer of the Borrower (i)
certifying that, based on an examination sufficient to permit such Financial Officer to make an
informed statement, no Default or Event of Default exists, or, if such is not the case, specifying
such Default or Event of Default, its nature, when it occurred, whether it is continuing and the
steps being taken by Borrower with respect to such event and (ii) stating whether any change in
GAAP or in the application thereof has occurred since the date of the audited financial statements
referred to in Section 3.04 and, if any such change has occurred, specifying the effect of such
change on the financial statements accompanying such certificate;

          (e) weekly, on or before the third Business Day of each week, in form and substance, and in
line item detail, satisfactory to the Lender, a report (a “Certified Variance Report”)
specifying the variances, if any, between the results of operations for the immediately preceding
Budget Period (including actual cash receipts and expenditures) and the projections for such Budget
Period in the Budget, which shall be accompanied by a certificate of a Financial Officer of the
Borrower certifying the Borrower’s compliance with the Budget (including the absence of any
Material Adverse Deviation) and that the variance report fairly presents the results of operations
of the Borrower and its Subsidiaries for the Budget Period covered thereby;

          (f) not later than each four week anniversary of the Effective Date, a supplemental budget
containing projections of the Borrower for the Budget Period following the end of the period
covered by the then current Budget, which supplemental budget shall, upon the Lender’s approval
thereof, which approval shall be given or withheld in the Lender’s commercially reasonable
discretion, supplement and be considered a part of the Budget (provided that BlueBay has agreed to
add such supplemental budget as a part of the Budget

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under the BlueBay Credit Agreement), it being understood that the Budget hereunder and the
Budget under and as defined in the BlueBay Credit Agreement shall be identical; and

          (g) promptly following any request therefor, such other information regarding the operations,
business affairs and financial condition of the Borrower or any Subsidiary, or compliance with the
terms of this Agreement and any other Loan Document, as the Lender may reasonably request.

          SECTION 5.02. Notices of Material Events. The Borrower will furnish to the Lender
prompt written notice of the following:

          (a) the occurrence of any Default;

          (b) the filing or commencement of any action, suit or proceeding by or before any arbitrator
or Governmental Authority against or affecting the Borrower or any Affiliate thereof that could
reasonably be expected to result in a Material Adverse Effect;

          (c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that
have occurred, could reasonably be expected to result in liability of the Borrower and its
Subsidiaries in an aggregate amount exceeding $1,000,000; and

          (d) any other development that results in, or could reasonably be expected to result in, a
Material Adverse Effect.

Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer
or other executive officer of the Borrower setting forth the details of the event or development
requiring such notice and any action taken or proposed to be taken with respect thereto.

          SECTION 5.03. Existence; Conduct of Business. The Borrower will do or cause to be
done all things necessary to preserve, renew and keep in full force and effect its legal existence
and the business operations and the rights, licenses, permits, privileges and franchises, patents,
copyrights, trademarks and tradenames material to the conduct of its business, except where the
failure to do so, individually or in the aggregate, could not reasonably be expected to result in a
Material Adverse Effect; provided that the foregoing shall not prohibit any merger,
consolidation, liquidation or dissolution permitted under Section 6.03.

          SECTION 5.04. Payment of Obligations. The Borrower will pay its obligations,
including Tax liabilities, that, if not paid, could result in a Material Adverse Effect before the
same shall become delinquent or in default, except where (a) the validity or amount thereof is
being contested in good faith by appropriate proceedings, (b) the Borrower has set aside on its
books adequate reserves with respect thereto in accordance with GAAP and (c) the failure to make
payment pending such contest could not reasonably be expected to result in a Material Adverse
Effect.

          SECTION 5.05. Maintenance of Properties; Insurance. The Borrower will (a) keep and
maintain all property that is material to the conduct of the business of the Borrower in good
working order and condition, ordinary wear and tear excepted, and (b) maintain, with

29

 

financially sound and reputable insurance companies, insurance in such amounts and against
such risks as are customarily maintained by companies engaged in the same or similar businesses
operating in the same or similar locations, and the Borrower will furnish to the Lender upon
request full information as to the insurance carried. The Borrower shall deliver to the Lender
endorsements in form and substance reasonably acceptable to the Lender (x) to all “All Risk”
physical damage insurance policies on all of the Borrower’s tangible real and personal property and
assets and business interruption insurance policies naming the Lender as lender loss payee and (y)
to all general liability, property and casualty policies naming the Lender as an additional
insured; provided, that the Borrower shall not be required to deliver to the Lender such
endorsements to any automobile insurance policies. In the event the Borrower at any time or times
hereafter shall fail to obtain or maintain any of the policies or insurance required herein or to
pay any premium in whole or in part relating thereto, then the Lender, without waiving or releasing
any obligations or resulting Event of Default hereunder, may at any time or times thereafter (but
shall be under no obligation to do so) obtain and maintain such policies of insurance and pay such
premiums and take any other action with respect thereto which the Lender deems advisable. All sums
so disbursed by the Lender shall constitute part of the Obligations, payable as provided in this
Agreement. The Borrower shall direct all insurers under policies of property damage, boiler and
machinery and business interruption insurance and payors and any condemnation claim or award
relating to the property to pay all proceeds payable under such policies or with respect to such
claim or award for any loss with respect to the Collateral directly to the Lender, to the extent
such proceeds are required to be used to prepay the Obligations pursuant to the terms hereof or any
other Loan Document. Each such policy shall contain a long-form loss-payable endorsement naming
the Lender as lender loss payee, which endorsement shall be in form and substance reasonably
acceptable to the Lender.

          SECTION 5.06. Books and Records; Inspection Rights. The Borrower will keep proper
books of record and account in which full, true and correct entries are made of all dealings and
transactions in relation to its business and activities. The Borrower will permit any
representatives designated by the Lender, upon reasonable prior notice, at the sole cost of the
Borrower, to visit and inspect any of its property, including the Collateral, books and financial
records of the Borrower, to examine and make extracts from its books and records and to discuss its
affairs, finances and condition with its officers and independent accountants, all at such
reasonable times during normal business hours and as often as reasonably requested; provided,
however, unless an Event of Default has occurred and is continuing, the Borrower shall only be
obligated to pay for the costs and expenses of a total of four (4) such visits in any fiscal year.
In the absence of an Event of Default, the Lender exercising any rights pursuant to this Section
5.06 shall give Borrower reasonable prior written notice of such exercise. No notice shall be
required during the existence and continuance of any Default or Event of Default.

          SECTION 5.07. Compliance with Laws. The Borrower will comply with all laws, rules,
regulations and orders of any Governmental Authority applicable to it or its property, except where
the failure to do so, individually or in the aggregate, could not reasonably be expected to result
in a Material Adverse Effect.

          SECTION 5.08. Use of Proceeds. The proceeds of the Loans will be used only for
working capital purposes, consistent with the Budget. Proceeds of Loans, and any of the Borrower’s
cash on hand, may be used by the Borrower in any Budget Period only in the

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amounts and for the expenditures set forth in the Budget for such Budget Period, subject to
any Permitted Deviation. No part of the proceeds of any Loan will be used, whether directly or
indirectly, for any purpose that entails a violation of any of the Regulations of the Board,
including Regulations T, U and X.

          SECTION 5.09. Credit Parties Guaranty. The Borrower shall cause each of Borrower’s
Subsidiaries created or acquired after the date hereof which the Lender has determined to be active
to guarantee the Obligations. In furtherance of the above, the Borrower shall promptly (and in any
event within 30 days thereof) (i) provide written notice to the Lender upon any Person becoming a
Subsidiary, setting forth information in reasonable detail describing all of the assets of such
Person, (ii) cause such Person to execute (x) a guaranty in such form and containing such terms and
conditions as the Lender shall determine in its sole discretion (such guaranty, as amended,
restated, supplemented or otherwise modified from time to time, a “Credit Parties
Guaranty”), and (y) such Collateral Documents as are necessary for the Borrower and its
Subsidiaries to comply with this Section 5.09 and Section 5.10, (iii) cause 100% (or if a Deemed
Dividend Problem or foreign withholding tax problem exists, 65%) of the issued and outstanding
equity interests of such Person to be delivered to the Lender (together with undated stock powers
signed in blank, if applicable) and pledged to the Lender pursuant to an appropriate pledge
agreement(s) in substantially the form of the Pledge and Security Agreement (or joinder or other
supplement thereto) and otherwise in form reasonably acceptable to the Lender and (iv) deliver such
other documentation as the Lender may reasonably request in connection with the foregoing,
including, certified resolutions and other authority documents of such Person and, to the extent
requested by the Lender, favorable opinions of counsel to such Person (which shall cover, among
other things, the legality, validity, binding effect and enforceability of the documentation
referred to above), all in form, content and scope reasonably satisfactory to the Lender.
Notwithstanding the foregoing, no Foreign Subsidiary shall be required to execute and deliver a
Credit Parties Guaranty or such Collateral Documents if such execution and delivery would cause a
Deemed Dividend Problem or a Financial Assistance Problem with respect to such Foreign Subsidiary.

          SECTION 5.10. Collateral.

          (a) The Borrower will cause, and will cause each other Credit Party to cause, all of its owned
property to be subject at all times to first priority, perfected Liens in favor of the Lender, to
secure the Obligations in accordance with the terms and conditions of the Collateral Documents,
subject in any case to Liens permitted by Section 6.02 or by the Collateral Documents. Without
limiting the generality of the foregoing, the Borrower will cause 100% (or if a Deemed Dividend
Problem or foreign withholding tax problem exists, 65%) of the issued and outstanding equity
interests of each Credit Party directly owned by the Borrower or any other Credit Party to be
subject at all times to a first priority, perfected Lien in favor of the Lender (subject in any
case to Liens permitted by Section 6.02 or by the Collateral Documents) in accordance with the
terms and conditions of the Collateral Documents or such other security documents as the Lender
shall reasonably request, together with such other documentation as the Lender may reasonably
request in connection with the foregoing, including certified resolutions and other authority
documents of such Person and, to the extent requested by the Lender, customary opinions of counsel
with respect to such Person (which shall cover, among other things, the legality, validity, binding
effect and enforceability of the documentation referred to

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above and attachment and perfection of all Liens thereunder), all in form, content and scope
reasonably satisfactory to the Lender.

          (b) The Lender and the Borrower, on behalf of itself and the other Credit Parties, irrevocably
authorize the Lender, at its option and in its reasonable judgment, in the event that, at any time,
the Lender determines that it does not have a perfected Lien on substantially all of the assets of
any Credit Party to secure the Obligations, to obtain perfected Liens on such unencumbered assets
as the Lender deems necessary to secure the Obligations. The Borrower shall provide, and cause the
other Credit Parties to provide, the Lender with all information reasonably requested by the Lender
from time to time related to assets owned by the Borrower and the Borrower’s Subsidiaries, shall
cooperate fully with the Lender with respect to the performance of due diligence and the execution
of instruments and other Collateral Documents and making of any filings necessary to facilitate
such Lien perfection (including certified resolutions and other authority documents of any
applicable Subsidiary and, to the extent requested by the Lender, customary opinions of counsel
with respect to such Subsidiary (which shall cover, among other things, the legality, validity,
binding effect and enforceability of the documentation referred to above and attachment and
perfection of all Liens thereunder), all in form, content and scope reasonably satisfactory to the
Lender) and shall pay all reasonable costs and expenses incurred by the Lender and its counsel in
connection therewith, whereupon such Subsidiary shall thereafter be deemed a “Credit Party”
hereunder. Notwithstanding the foregoing, no pledge agreement in respect of the Equity Interests
of a Foreign Subsidiary shall be required hereunder to the extent such pledge thereunder is
prohibited by applicable law or its counsel reasonably determines that such pledge would not
provide material credit support for the benefit of the Holders of Obligations pursuant to legally
valid, binding and enforceable pledge agreements.

ARTICLE VI

Negative Covenants

          Until the Commitment has expired or terminated and the principal of and interest on the Loans
and all fees payable hereunder have been paid in full, the Borrower covenants and agrees with the
Lender that:

          SECTION 6.01. Indebtedness. The Borrower will not, and will not permit any Subsidiary
to, create, incur, assume or permit to exist any Indebtedness, except:

          (a) Indebtedness created hereunder;

          (b) Indebtedness existing on the date hereof and set forth in Schedule 6.01 and
extensions, renewals and replacements of any such Indebtedness that do not increase the maximum
principal amount thereof;

          (c) Indebtedness of the Borrower to any Subsidiary Guarantor and of any Subsidiary Guarantor
to the Borrower or any other Subsidiary Guarantor;

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          (d) Guarantees by the Borrower of Indebtedness of any Subsidiary Guarantor and by any
Subsidiary Guarantor of Indebtedness of the Borrower or any other Subsidiary Guarantor;

          (e) Indebtedness of the Borrower arising under TDU License Agreements;

          (f) Indebtedness of the Borrower or any Subsidiary as an account party in respect of trade
letters of credit; and

          (g) Indebtedness of the Borrower under the BlueBay Credit Agreement.

          SECTION 6.02. Liens. The Borrower will not, and will not permit any Subsidiary to,
create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter
acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights
in respect of any thereof, except:

          (a) Permitted Encumbrances;

          (b) any Lien on any property or asset of the Borrower or any Subsidiary existing on the date
hereof and set forth in Schedule 6.02; provided that (i) such Lien shall not apply
to any other property or asset of the Borrower or any Subsidiary and (ii) such Lien shall secure
only those obligations which it secures on the date hereof and extensions, renewals and
replacements thereof that do not increase the outstanding principal amount thereof;

          (c) Liens created to secure obligations arising under the TDU License Agreements; and

          (d) Liens created by the Collateral Documents; and

          (e) Liens in favor of BlueBay which secure the Borrower’s or any Subsidiary’s obligations
under the BlueBay Credit Agreement or any agreements related thereto.

          SECTION 6.03. Fundamental Changes.

          (a) The Borrower will not, and will not permit any Subsidiary to, merge into or consolidate
with any other Person, or permit any other Person to merge into or consolidate with it, or sell,
transfer, lease or otherwise dispose (including pursuant to a Sale and Leaseback Transaction) of
(in one transaction or in a series of transactions) any of its assets, or all or substantially all
of the stock of any of its Subsidiaries (in each case, whether now owned or here-after acquired),
or liquidate or dissolve, except pursuant to the Merger Agreement and except that, if at the time
thereof and immediately after giving effect thereto no Default or Event of Default shall have
occurred and be continuing

     (i) any Subsidiary may merge into any Subsidiary in a transaction in which the
surviving entity is a Subsidiary Guarantor; provided, however, that
in no circumstance shall a Domestic Subsidiary merge into a Foreign Subsidiary in a
transaction in which such Foreign Subsidiary is the surviving entity,

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     (ii) any Subsidiary may sell, transfer, lease or otherwise dispose of its
assets to the Borrower or to a Subsidiary Guarantor, and

     (iii) any Subsidiary may liquidate or dissolve if the Borrower determines in
good faith that such liquidation or dissolution is in the best interests of the
Borrower and is not materially disadvantageous to the Lender; provided that any such
merger involving a Person that is not a wholly owned Subsidiary immediately prior to
such merger shall not be permitted unless also permitted by Section 6.04.

          (b) The Borrower will not, and will not permit any of its Subsidiaries to, engage to any
material extent in any business other than businesses (and businesses reasonably related thereto)
of the type conducted by the Borrower and its Subsidiaries on the date of execution of this
Agreement.

          SECTION 6.04. Investments, Loans, Advances, Guarantees and Acquisitions. The Borrower
will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including
pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger)
any Equity Interests, evidences of indebtedness or other securities (including any option, warrant
or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances
to, Guarantee any obligations of, or make or permit to exist any investment or any other interest
in, any other Person, or purchase or otherwise acquire (in one transaction or a series of
transactions) any assets of any other Person constituting a business unit, except:

          (a) Permitted Investments;

          (b) investments by the Borrower existing on the date hereof in the capital stock of its
Subsidiaries;

          (c) loans or advances made by the Borrower to any Subsidiary Guarantor and made by any
Subsidiary to the Borrower or any other Subsidiary Guarantor;

          (d) Guarantees constituting Indebtedness permitted by Section 6.01;

          (e) the extension of commercial trade credit in connection with the sale of Inventory in the
ordinary course of its business; and

          (f) advance payments of production costs and developer’s fees to developers of games marketed
by the Borrower in the ordinary course of business consistent with past practice to Persons that
are not Affiliates of the Borrower.

          SECTION 6.05. Swap Agreements. The Borrower will not, and will not permit any of its
Subsidiaries to, enter into any Swap Agreement, except

          (a) Swap Agreements entered into to hedge or mitigate risks to which the Borrower or any
Subsidiary has actual exposure (other than those in respect of Equity Interests of the Borrower or
any of its Subsidiaries), and

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          (b) Swap Agreements entered into in order to effectively cap, collar or exchange interest
rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise)
with respect to any interest-bearing liability or investment of the Borrower or any Subsidiary.

          SECTION 6.06. Restricted Payments. The Borrower will not, and will not permit any of
its Subsidiaries to, declare or make, or agree to pay or make, directly or indirectly, any
Restricted Payment, except (a) the Borrower may declare and pay dividends with respect to its
Equity Interests payable solely in additional shares of its common stock, (b) Subsidiaries may
declare and pay dividends ratably with respect to their Equity Interests to the Borrower or to
Subsidiary Guarantors, and (c) the Borrower may make Restricted Payments pursuant to and in
accordance with stock option plans or other benefit plans for management or employees of the
Borrower and its Subsidiaries; provided that at the time of such Restricted Payment, and
immediately after giving effect thereto, no Default or Event of Default shall have occurred and be
continuing.

          SECTION 6.07. Transactions with Affiliates. The Borrower will not, and will not
permit any of its Subsidiaries to, sell, lease or otherwise transfer any property or assets to, or
purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other
transactions with, any of its Affiliates, except

          (a) in the ordinary course of business at prices and on terms and conditions not less
favorable to the Borrower or such Subsidiary than could be obtained on an arm’s-length basis from
unrelated third parties,

          (b) transactions between or among the Borrower and its wholly owned Subsidiaries not involving
any other Affiliate,

          (c) pursuant to agreements and arrangements existing on the date hereof as set forth in the
Borrower’s most recent Form 10-K and subsequently-filed Forms 10-Q and 8-K made prior to the date
hereof or on Schedule 6.07,

          (d) any Restricted Payment permitted by Section 6.06, and

          (e) transactions pursuant to the TDU License Agreements.

          SECTION 6.08. Restrictive Agreements. The Borrower will not, and will not permit any
of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement
(other than the Loan Documents) or other arrangement that prohibits, restricts or imposes any
condition upon

          (a) the ability of the Borrower or any Subsidiary to create, incur or permit to exist any Lien
upon any of its property or assets, or

          (b) the ability of any Subsidiary to pay dividends or other distributions with respect to any
shares of its capital stock or to make or repay loans or advances to the Borrower or any other
Subsidiary or to Guarantee Indebtedness of the Borrower or any other Subsidiary; provided
that

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     (i) the foregoing shall not apply to restrictions and conditions imposed by law
or by this Agreement,

     (ii) the foregoing shall not apply to restrictions and conditions existing on
the date hereof identified on Schedule 6.08 (but shall apply to any
extension or renewal of, or any amendment or modification expanding the scope of,
any such restriction or condition),

     (iii) the foregoing shall not apply to customary restrictions and conditions
contained in agreements relating to the sale of a Subsidiary pending such sale,
provided such restrictions and conditions apply only to the Subsidiary that is to be
sold and such sale is permitted hereunder,

     (iv) clause (a) of the foregoing shall not apply to restrictions or conditions
imposed under the TDU License Agreements or by any other agreement relating to
secured Indebtedness permitted by this Agreement if such restrictions or conditions
apply only to the property or assets securing such Indebtedness, and,

     (v) clause (a) of the foregoing shall not apply to customary provisions in
leases and other contracts restricting the assignment thereof.

          SECTION 6.09. Changes in Fiscal Year. The Borrower will not, nor will it permit any
of its Subsidiaries to, change its fiscal year from the basis in effect on the Effective Date.

          SECTION 6.10. Asset Sales. The Borrower will not, nor will it permit any Subsidiary
to, sell, lease or otherwise dispose of its assets to any other Person except for:

          (a) sales of inventory for fair value in the ordinary course of business;

          (b) sales or other dispositions of obsolete, uneconomic or worn-out or no longer used or
useful assets in the ordinary course of business;

          (c) dispositions of cash and Permitted Investments in the ordinary course of business; and

          (d) the licensing of intellectual property, other than where the grant of such license would
prohibit the Borrower from continuing to retain full rights in such intellectual property, so long
as the aggregate value of all such licensed intellectual property does not exceed $8,500,000 at any
time, and that all such licenses are on terms and subject to documentation in form and substance
reasonably satisfactory to the Lender;

provided that, with respect to any sale, lease or disposition of assets pursuant to this
Section 6.10, (i) the Net Cash Proceeds of such sale or other disposition of assets are applied as
required by Section 2.05(d) and (ii) at the time of such sale or other disposition, and immediately
after giving effect thereto, no Default or Event of Default shall have occurred and be continuing.

36

 

          SECTION 6.11. Sale and Leaseback Transactions. No Credit Party shall enter into any
Sale and Leaseback Transaction.

          SECTION 6.12. Capital Expenditures. The Borrower will not, nor will it permit any
Subsidiary to, expend, or be committed to expend, in excess of the amount set forth in the Budget
for Capital Expenditures of the Borrower and its Subsidiaries during any fiscal quarter of the
Borrower.

          SECTION 6.13. Subsidiaries. The Borrower will not conduct any material business
through any of its current Subsidiaries, nor will it lend money to or contribute to the capital of
any of its current Subsidiaries.

ARTICLE VII

Events of Default

          If any of the following events (“Events of Default”) shall occur:

          (a) the Borrower shall fail to pay any principal of the Loans when and as the same shall
become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof
or otherwise;

          (b) the Borrower shall fail to pay any interest on the Loans or any fee or any other amount
(other than an amount referred to in clause (a) of this Article) payable under this Agreement, when
and as the same shall become due and payable, and such failure shall continue unremedied for a
period of five days;

          (c) any representation or warranty made or deemed made by or on behalf of the Borrower or any
Subsidiary in or in connection with this Agreement or any other Loan Document or any amendment or
modification thereof or waiver thereunder, or in any report, certificate, financial statement or
other document furnished pursuant to or in connection with the Loan Documents or any amendment or
modification thereof or waiver thereunder, shall prove to have been incorrect in any material
respect when made or deemed made;

          (d) (i) the Borrower or any Subsidiary shall fail to observe or perform any covenant,
condition or agreement contained in Section 5.01(f), 5.02, 5.03 (with respect to organizational
existence), 5.08, 5.09, or 5.10 or in Article VI or (ii) any Loan Document shall for any reason not
be or shall cease to be in full force and effect or is declared to be null and void, or the
Borrower or any Subsidiary takes any action for the purpose of terminating, repudiating or
rescinding any Loan Document or any of its obligations thereunder;

          (e) the Borrower or any Subsidiary shall fail to observe or perform any covenant, condition or
agreement contained in this Agreement or in any other Loan Document (other than those specified in
clause (a), (b) or (d) of this Article), and such failure shall continue unremedied for a period of
30 days after the earlier to occur of (i) notice thereof from the Lender to the Borrower or (ii) an
officer of the Borrower becomes aware of any such breach;

37

 

          (f) the Borrower or any Subsidiary shall fail to make any payment (whether of principal or
interest and regardless of amount) in respect of any Material Indebtedness, when and as the same
shall become due and payable after giving effect to all applicable cure periods;

          (g) any event or condition occurs that results in any Material Indebtedness becoming due prior
to its scheduled maturity or that enables or permits (with or without the giving of notice, the
lapse of time or both) the holder or holders of any Material Indebtedness or any trustee or agent
on its or their behalf to cause any Material Indebtedness to become due, or to require the
prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity;
provided that this clause (g) shall not apply to secured Indebtedness that becomes due as a
result of the voluntary sale or transfer of the property or assets securing such Indebtedness;

          (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed
seeking (i) bankruptcy, winding up, dissolution, liquidation, reorganization or other relief in
respect of the Borrower or any Subsidiary or its debts, or of a substantial part of its assets,
under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or
hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator,
conservator or similar official for the Borrower or any Subsidiary or for a substantial part of its
assets, and, in any such case, such proceeding or petition shall continue undismissed for 60 days
or an order or decree approving or ordering any of the foregoing shall be entered;

          (i) the Borrower or any Subsidiary shall

     (i) voluntarily commence any proceeding or file any petition seeking
bankruptcy, winding up, dissolution, liquidation, reorganization or other relief
under any Federal, state or foreign bankruptcy, insolvency, receivership or similar
law now or hereafter in effect,

     (ii) consent to the institution of, or fail to contest in a timely and
appropriate manner, any proceeding or petition described in clause (h) of this
Article,

     (iii) apply for or consent to the appointment of a receiver, trustee,
custodian, sequestrator, conservator or similar official for the Borrower or any
Subsidiary or for a substantial part of its assets,

     (iv) file an answer admitting the material allegations of a petition filed
against it in any such proceeding,

     (v) make a general assignment for the benefit of creditors or

     (vi) take any action for the purpose of effecting any of the foregoing;

          (j) the Borrower or any Subsidiary shall become unable, admit in writing its inability or fail
generally to pay its debts as they become due;

          (k) one or more judgments (other than a judgment covered by insurance, but only if the insurer
has admitted liability with respect to such judgment) for the payment of

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money in an aggregate amount in excess of $1,000,000 net of insurance shall be rendered
against the Borrower, any Subsidiary or any combination thereof and the same shall remain
undischarged for a period of 30 consecutive days during which execution shall not be effectively
stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any
assets of the Borrower or any Subsidiary to enforce any such judgment;

          (l) an ERISA Event shall have occurred that, in the opinion of the Lender, when taken together
with all other ERISA Events that have occurred, could reasonably be expected to result in liability
of the Borrower and its Subsidiaries in an aggregate amount exceeding $5,000,000;

          (m) a Change in Control or a Material Adverse Deviation shall occur;

          (n) any Loan Document shall fail to remain in full force or effect against any Credit Party
party thereto (except to the extent such Credit Party has been released from its obligations
thereunder in accordance with this Agreement or such other Loan Document or such Loan Document has
expired or terminated in accordance with its terms) or any Credit Party shall take any action to
discontinue or to assert the invalidity or unenforceability of, or any action that results in the
discontinuation or invalidity or unenforceability of, any Loan Document in any material respect or
any Lien in favor of the Lender under the Loan Documents (except as contemplated by the Loan
Documents), or such Lien shall not have the perfection or priority contemplated by the Loan
Documents, or the Intercreditor Agreements or any provision thereof shall cease to be in full force
or effect (except in accordance with its terms), any of the parties thereto (other than the Lender)
shall deny or disaffirm their respective obligations thereunder or any of the parties thereto
(other than the Lender) shall default in the due performance or observance of any term, covenant or
agreement on their part to be performed or observed pursuant to the terms thereof; or

          (o) any default with respect to the obligations of the Borrower occurs under the TDU License
Agreements or the Merger Agreement, or any Event of Default occurs under the BlueBay Credit
Agreement;

then, and in every such event (other than an event with respect to the Borrower described in clause
(h) or (i) of this Article), and at any time thereafter during the continuance of such event, the
Lender may, by notice to the Borrower, take either or both of the following actions, at the same or
different times:

     (i) terminate the Commitment, and thereupon the Commitment shall terminate
immediately, and

     (ii) declare the Loans then outstanding to be due and payable in whole (or in
part, in which case any principal not so declared to be due and payable may
thereafter be declared to be due and payable), and thereupon the principal of the
Loans so declared to be due and payable, together with accrued interest thereon and
all fees and other Obligations accrued hereunder and under the other Loan Documents,
shall become due and payable immediately, without presentment, demand, protest or
other notice of any kind, all of which are hereby waived by the

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Borrower; and in case of any event with respect to the Borrower described in
clause (h) or (i) of this Article, the Commitment shall automatically terminate and
the principal of the Loans then outstanding, together with accrued interest thereon
and all fees and other Obligations accrued hereunder and under the Loan Documents,
shall automatically become due and payable, without presentment, demand, protest or
other notice of any kind, all of which are hereby waived by the Borrower.

ARTICLE VIII

Miscellaneous

          SECTION 8.01. Notices. (a) Except in the case of notices and other communications
expressly permitted to be given by telephone (and subject to paragraph (b) below), all notices and
other communications provided for herein shall be in writing and shall be delivered by hand or
overnight courier service, mailed by certified or registered mail or sent by facsimile, as follows:

     (i) if to the Borrower, to it at 417 Fifth Avenue, New York, New York 10016,
Attention: Arturo Rodriguez, (Facsimile No.: 212-726-6590, email address:
arturo.rodriguez@atari.com), with a copy to Milbank, Tweed, Hadley & McCloy, One
Chase Manhattan Plaza, New York, New York 10005, Attention Thomas C. Janson
(Facsimile No.: (212) 822-5899, email: tjanson@milbank.com); and

     (ii) if to the Lender, then to Infogrames Entertainment, S.A., 1 Place
Verrazzano, 69252 Lyon Cedex 09, France, Attention: Legal Affairs (Facsimile No.:
33-(0)-4-37-64-30-95), with a copy to Morrison & Foerster LLP, 1290 Avenue of the
Americas, New York New York, 10104, Attention Russell Weiss (Facsimile No.:
212-468-7900, email: rweiss@mofo.com.).

          (b) Any party hereto may change its address or facsimile number for notices and other
communications hereunder by notice to the other parties hereto. All notices and other
communications given to any party hereto in accordance with the provisions of this Agreement shall
be deemed to have been given on the date of receipt.

          SECTION 8.02. Waivers; Amendments.

          (a) No failure or delay by the Lender in exercising any right or power hereunder or under any
other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of
any such right or power, or any abandonment or discontinuance of steps to enforce such a right or
power, preclude any other or further exercise thereof or the exercise of any other right or power.
The rights and remedies of the Lender hereunder and under the other Loan Documents are cumulative
and are not exclusive of any rights or remedies that it would otherwise have. No waiver of any
provision of this Agreement or any other Loan Document or consent to any departure by the Borrower
therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of
this Section, and then such waiver or

40

 

consent shall be effective only in the specific instance and for the purpose for which given.
Without limiting the generality of the foregoing, the making of a Loan shall not be construed as a
waiver of any Default, regardless of whether the Lender may have had notice or knowledge of such
Default at the time.

          (b) Neither this Agreement nor any other Loan Document nor any provision hereof or thereof may
be waived, amended or modified except pursuant to an agreement or agreements in writing entered
into by the Borrower and the Lender.

          SECTION 8.03. Expenses; Indemnity; Damage Waiver.

          (a) The Borrower shall pay

     (i) all reasonable out-of-pocket expenses incurred by the Lender and its
Affiliates, including the reasonable fees, charges and disbursements of counsel for
the Lender, in connection with the preparation and administration of this Agreement
and the other Loan Documents or any amendments, modifications or waivers of the
provisions hereof or thereof (whether or not the transactions contemplated hereby or
thereby shall be consummated),

     (ii) all out-of-pocket expenses incurred by the Lender, including the fees,
charges and disbursements of any counsel for the Lender, in connection with the
enforcement or protection of its rights in connection with any Loan Document,
including its rights under this Section, or in connection with the Loans made
hereunder, including all such out-of-pocket expenses incurred during any workout,
restructuring or negotiations in respect of such Loans, provided that, in the case
of a workout or a Default, the Borrower shall be obligated to pay the attorneys’
fees and expenses for only one law firm for the Lender in addition to any required
local counsel.

          (b) The Borrower shall indemnify the Lender, and each Related Party of the Lender (each such
Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any
and all losses, claims, damages, liabilities and related expenses, including the fees, charges and
disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee
arising out of, in connection with, or as a result of

     (i) the execution or delivery of this Agreement or any other Loan Document or
any agreement or instrument contemplated hereby or thereby, the performance by the
parties to this Agreement or any other Loan Document of their respective obligations
hereunder or thereunder or the consummation of the Transactions or any other
transactions contemplated hereby or by the other Loan Documents,

     (ii) any Loan or the use of the proceeds therefrom,

     (iii) any actual or prospective claim, litigation, investigation or proceeding
relating to any of the foregoing, whether based on contract, tort or any other
theory and regardless of whether any Indemnitee is a party thereto; provided

41

 

that such indemnity shall not, as to any Indemnitee, be available to the extent
that such losses, claims, damages, liabilities or related expenses (x) are
determined by a court of competent jurisdiction by final and nonappealable judgment
to have resulted from the gross negligence or willful misconduct of such Indemnitee,
or (y) relate to a claim arising solely under the Merger Agreement.

          (c) To the extent permitted by applicable law, the Borrower shall not assert, and hereby
waives, any claim against any Indemnitee, on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages) arising out of, in
connection with, or as a result of, this Agreement, any other Loan Document or any agreement or
instrument contemplated hereby or thereby, the Transactions, any Loan or the use of the proceeds
thereof.

          (d) All amounts due under this Section shall be payable promptly not later than fifteen days
after written demand therefor.

          SECTION 8.04. Successors and Assigns. The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its
rights or obligations hereunder without the prior written consent of the Lender (and any attempted
assignment or transfer by the Borrower without such consent shall be null and void). The Lender
may assign or otherwise transfer its rights or obligations hereunder without obtaining the consent
of the Borrower. Nothing in this Agreement, expressed or implied, shall be construed to confer
upon any Person (other than the parties hereto, their respective successors and assigns permitted
hereby, and, to the extent expressly contemplated hereby, the Related Parties of the Lender) any
legal or equitable right, remedy or claim under or by reason of this Agreement.

          SECTION 8.05. Survival. All covenants, agreements, representations and warranties
made by the Borrower and its Subsidiaries in the Loan Documents and in the certificates or other
instruments delivered in connection with or pursuant to this Agreement or any other Loan Document
shall be considered to have been relied upon by the other parties hereto and shall survive the
execution and delivery of the Loan Documents and the other Loan Documents and the making of any
Loans, regardless of any investigation made by any such other party or on its behalf and
notwithstanding that the Lender may have had notice or knowledge of any Default or incorrect
representation or warranty at the time any credit is extended hereunder, and shall continue in full
force and effect as long as the principal of or any accrued interest on any Loan or any fee or any
other amount payable under this Agreement or any other Loan Document is outstanding and unpaid and
so long as the Commitment has not expired or terminated. The provisions of Sections 2.08, 2.09,
2.10 and 8.03 shall survive and remain in full force and effect regardless of the consummation of
the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of
the Commitment or the termination of this Agreement or any other Loan Document or any provision
hereof or thereof.

          SECTION 8.06. Counterparts; Integration; Effectiveness. This Agreement may be
executed in counterparts (and by different parties hereto on different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a

42

 

single contract. This Agreement, the other Loan Documents and any separate letter agreements
with respect to fees payable to the Lender constitute the entire contract among the parties
relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in
Section 4.01, this Agreement shall become effective when it shall have been executed by the Lender
and when the Lender shall have received counterparts hereof which, when taken together, bear the
signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and assigns. Delivery of an
executed counterpart of a signature page of this Agreement by facsimile shall be effective as
delivery of a manually executed counterpart of this Agreement.

          SECTION 8.07. Severability. Any provision of this Agreement held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such invalidity, illegality or unenforceability without affecting the validity, legality
and enforceability of the remaining provisions hereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

          SECTION 8.08. Right of Setoff. If an Event of Default shall have occurred and be
continuing, the Lender and each of its Affiliates is hereby authorized at any time and from time to
time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or
special, time or demand, provisional or final) at any time held and other obligations at any time
owing by the Lender or any of its Affiliates to or for the credit or the account of the Borrower
against any of and all the obligations of the Borrower now or hereafter existing under this
Agreement held by the Lender, irrespective of whether or not the Lender shall have made any demand
under this Agreement and although such obligations may be unmatured. The rights of the Lender
under this Section are in addition to other rights and remedies (including other rights of setoff)
which the Lender may have.

          SECTION 8.09. Governing Law; Jurisdiction; Consent to Service of Process.

          (a) THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE
OF NEW YORK.

          (b) The Borrower hereby irrevocably and unconditionally submits, for itself and its property,
to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York
County and of the United States District Court of the Southern District of New York, and any
appellate court from any thereof, in any action or proceeding arising out of or relating to this
Agreement, or for recognition or enforcement of any judgment, and each of the parties hereto hereby
irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding
may be heard and determined in such New York State or, to the extent permitted by law, in such
Federal court. Each of the parties hereto agrees that a final judgment in any such action or
proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by law. Nothing in this Agreement shall affect any right that the
Lender may otherwise have to bring any action or proceeding relating to this Agreement against the
Borrower or its properties in the courts of any jurisdiction.

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          (c) The Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection which it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Agreement in any court
referred to in paragraph (b) of this Section. Each of the parties hereto hereby irrevocably
waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court.

          (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 8.01. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by law.

          SECTION 8.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION.

          SECTION 8.11. Headings. Article and Section headings and the Table of Contents used
herein are for convenience of reference only, are not part of this Agreement and shall not affect
the construction of, or be taken into consideration in interpreting, this Agreement.

          SECTION 8.12. Subordination of Intercompany Indebtedness. The Borrower agrees that
any and all claims of the Borrower against any Subsidiary Guarantor with respect to any
“Intercompany Indebtedness” (as hereinafter defined), any endorser, obligor or any other guarantor
of all or any part of the Obligations, or against any of its property shall be subordinate and
subject in right of payment to the prior payment, in full and in cash, of all Obligations;
provided that, and not in contravention of the foregoing, so long as no Event of Default
has occurred and is continuing, the Borrower may make loans to and receive payments in the ordinary
course with respect to such Intercompany Indebtedness from each such guarantor, including, the
Subsidiary Guarantors, to the extent permitted by the terms of this Agreement and the other Loan
Documents. Notwithstanding any right of the Borrower to ask, demand, sue for, take or receive any
payment from any guarantor, including the Subsidiary Guarantors, all rights, liens and security
interests of the Borrower, whether now or hereafter arising and howsoever existing, in any assets
of any such guarantor shall be and are subordinated to the rights of the Holders of Obligations in
those assets. The Borrower shall not have any right to possession of any such asset or to
foreclose upon any such asset, whether by judicial action or otherwise, unless and until all of the
Obligations (other than contingent indemnity obligations) shall have been fully paid and satisfied
(in cash) and all financing arrangements pursuant to any Loan Document among the Borrower and the
Holders of Obligations (or any affiliate thereof) have

44

 

been terminated. If all or any part of the assets of any such guarantor, or the proceeds
thereof, are subject to any distribution, division or application to the creditors of such
guarantor, whether partial or complete, voluntary or involuntary, and whether by reason of
liquidation, bankruptcy, arrangement, receivership, assignment for the benefit of creditors or any
other action or proceeding, or if the business of any such guarantor is dissolved or if
substantially all of the assets of any such guarantor are sold, then, and in any such event (such
events being herein referred to as an “Insolvency Event”), any payment or distribution of
any kind or character, either in cash, securities or other property, which shall be payable or
deliverable upon or with respect to any Indebtedness of any guarantor, including the Subsidiary
Guarantors, to the Borrower (“Intercompany Indebtedness”) shall be paid or delivered
directly to the Lender for application on any of the Obligations, due or to become due, until such
Obligations (other than contingent indemnity obligations) shall have first been fully paid and
satisfied (in cash). Should any payment, distribution, security or instrument or proceeds thereof
be received by the Borrower upon or with respect to the Intercompany Indebtedness after an
Insolvency Event prior to the satisfaction of all of the Obligations (other than contingent
indemnity obligations) and the termination of all financing arrangements pursuant to any Loan
Document among the Borrower and the Holders of Obligations (and their Affiliates), the Borrower
shall receive and hold the same in trust, as trustee, for the benefit of the Holders of Obligations
and shall forthwith deliver the same to the Lender, for the benefit of the Holders of Obligations,
in precisely the form received (except for the endorsement or assignment of the Borrower where
necessary), for application to any of the Obligations, due or not due, and, until so delivered, the
same shall be held in trust by the Borrower as the property of the Holder of Obligations. If the
Borrower fails to make any such endorsement or assignment to the Lender, the Lender or any of its
officers or employees are irrevocably authorized to make the same. The Borrower agrees that until
the Obligations (other than the contingent indemnity obligations) have been paid in full (in cash)
and satisfied and all financing arrangements pursuant to any Loan Document among the Borrower and
the Holders of Obligations (and their Affiliates) have been terminated, the Borrower will not
assign or transfer to any Person (other than the Lender) any claim the Borrower has or may have
against any guarantor, including the Subsidiary Guarantors.

          SECTION 8.13. Subject to Intercreditor Agreement. This Agreement is subject to the
terms of the Temporary Liquidity Facility Intercreditor Agreement.

The remainder of this page is intentionally blank.

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

	 	 	 	 	 
	 	ATARI, INC.

 	 
	 	By:  	/s/ Eugene I. Davis
 	 
	 	 	Name:  	Eugene I. Davis 	 
	 	 	Title:  	Chairman of the Board of Directors 	 
	 

Signature Page to Atari Credit Agreement

 

 

	 	 	 	 	 
	 	INFOGRAMES ENTERTAINMENT, S.A.,

as the Lender

 	 
	 	By:  	/s/ David Gardner
 	 
	 	 	Name:  	David Gardner 	 
	 	 	Title:  	CEO 	 
	 

Signature Page to Atari Credit AgreementEX-10.2

 

Exhibit 10.2

EXECUTION COPY

TEMPORARY LIQUIDITY FACILITY INTERCREDITOR AGREEMENT

          This TEMPORARY LIQUIDITY FACILITY INTERCREDITOR AGREEMENT is dated as of April 30, 2008 and is
entered into by and among ATARI, INC., a Delaware corporation (the “Borrower”), BLUEBAY
HIGH YIELD INVESTMENTS (LUXEMBOURG) S.A.R.L. (in its individual capacity, and any successor thereto
by merger, consolidation or otherwise, “BlueBay”), as Agent for the Secured Parties (each,
as defined below) under the BlueBay Credit Agreement referred to below, and INFOGRAMES
ENTERTAINMENT, S.A. (as the context may require, in its capacity as (i) Lender under (and as
defined in) the IESA Credit Agreement (as defined below), and (ii) Secured Party under (and as
defined in) the IESA Collateral Documents (as defined below), “IESA”).

RECITALS

          WHEREAS, pursuant to that certain Credit Agreement, dated as of November 3, 2006 (as amended,
restated, supplemented or otherwise modified from time to time, the “BlueBay Credit
Agreement”), among the Borrower, the lenders party thereto from time to time (the “Secured
Parties”), and BlueBay, as administrative agent (in such capacity, the Agent”), the
Agent and the Secured Parties have agreed to make loans and other financial accommodations to the
Borrower on the terms and subject to the conditions set forth therein;

          WHEREAS, pursuant to the BlueBay Collateral Documents (as defined below), including that
certain Pledge and Security Agreement, dated as of November 3, 2006, the Borrower has pledged to
the Agent for the benefit of the Secured Parties substantially all of its assets as security for
the BlueBay Obligations (as defined below);

          WHEREAS, pursuant to the IESA Credit Agreement (as defined below), IESA has agreed to make one
or more loans to the Borrower in an aggregate principal amount not to exceed $20,000,000,
provided that (a) the first $10,000,000 in principal amount of which, together with
interest thereon shall be secured by Liens (as defined below) equal in priority to the Liens
securing the BlueBay Obligations (the “IESA Pari Passu Obligations,” as further defined below) and,
(b) any principal advanced in excess of the IESA Pari Passu Obligations, up to an aggregate
additional principal amount of $10,000,000, together with interest thereon, shall be secured by
Liens junior in priority to the BlueBay Obligations (the “IESA Second-Lien Obligations,” as further
defined below), subject to the terms and conditions set forth herein and therein;

          WHEREAS, pursuant to the IESA Collateral Documents (as defined below), including that certain
Pledge and Security Agreement, dated as of the date hereof, the Borrower has pledged to IESA
substantially all of its assets as security for the IESA Obligations (as defined below); and

          WHEREAS, the Agent and the Secured Parties, on the one hand, and IESA, on the other hand, now
desire to set forth in this Agreement their respective rights and remedies with respect to the
Shared Collateral (as defined below).

          NOW, THEREFORE, in consideration of the foregoing, the mutual covenants and obligations herein
set forth and for other good and valuable consideration, the sufficiency and

 

 

receipt of which are hereby acknowledged, the parties hereto, intending to be legally bound,
hereby agree as follows:

          SECTION 1. Definitions.

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

          “Agent” shall have the meaning provided in the first recital hereto.

          “Agreement” shall mean this Temporary Liquidity Facility Intercreditor Agreement, as
amended, restated, renewed, extended, supplemented and/or otherwise modified from time to time in
accordance with the terms hereof.

          “Bankruptcy Code” shall mean Title 11 of the United States Code entitled “Bankruptcy,”
as now and hereafter in effect, or any successor statute.

          “Bankruptcy Law” shall mean the Bankruptcy Code and any similar federal, state- or
foreign law for the relief of debtors.

          “BlueBay” shall have the meaning set forth in the first paragraph of this Agreement.

          “BlueBay Collateral” shall mean all of the assets and property of any Credit Party,
whether real, personal or mixed, now or hereafter acquired and wherever located and all proceeds
thereof, with respect to which a Lien is granted (or purported to be granted) as security for any
BlueBay Obligations, including, without limitation, the Shared Collateral.

          “BlueBay Collateral Documents” shall mean the Collateral Documents (as defined in the
BlueBay Credit Agreement) and any other agreement, document or instrument pursuant to which a Lien
is granted (or purported to be granted) securing any BlueBay Obligation (including any Permitted
Refinancing of any BlueBay Obligation) or under which rights or remedies with respect to such Liens
are governed, together with any amendments, replacements, modifications, extensions, renewals or
supplements to, or restatements of, any of the foregoing.

          “BlueBay Credit Agreement” shall have the meaning set forth in the first recital
hereto.

          “BlueBay Documents” shall mean (x) the BlueBay Credit Agreement and the other Loan
Documents (as defined in the BlueBay Credit Agreement) and (y)  the BlueBay Collateral Documents
and each of the other agreements, documents and instruments providing for or evidencing any BlueBay
Obligation (including any Permitted Refinancing of any BlueBay Obligation), and any other document
or instrument executed or delivered at any time in
connection with any BlueBay Obligation (including any Permitted Refinancing of any BlueBay
Obligation), together with any amendments, replacements, modifications, extensions, renewals or
supplements to, or restatements of, any of the foregoing, provided that any such
modification does not increase the aggregate principal amount of the BlueBay Obligations.

2

 

          “BlueBay Obligations” shall mean all liabilities and obligations, contingent or
otherwise, (including guaranty obligations) of every nature of the Borrower and each other Credit
Party from time to time owed to any Secured Party, under any BlueBay Document (including any
BlueBay Document in respect of a Permitted Refinancing of any BlueBay Obligations), including those
which are designated as “Obligations” under the BlueBay Documents, whether for principal, premium,
interest on such principal (including interest which, but for the filing of a petition in
bankruptcy with respect to such Person, would have accrued on any BlueBay Obligation (including any
Permitted Refinancing of any BlueBay Obligation) at the rate provided in the respective
documentation, whether or not a claim is allowed against the Borrower or any other Credit Party for
such interest in the related bankruptcy proceeding), fees, expenses, indemnification or otherwise.

          “Borrower” shall have the meaning set forth in the first paragraph of this Agreement.

          “Business Day” shall mean a day other than a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to close.

          “Cash Collateral” shall have the meaning set forth in Section 363(a) of the Bankruptcy
Code.

          “Collateral Documents” shall mean, collectively, the BlueBay Collateral Documents and
the IESA Collateral Documents.

          “Credit Party” shall mean the Borrower, the Subsidiary Guarantors and any other
Subsidiary required to become a Credit Party pursuant to the BlueBay Credit Agreement or the IESA
Credit Agreement.

          “DIP Financing” shall have the meaning set forth in Section 6.1 hereof.

          “Discharge of BlueBay Obligations” shall mean, except to the extent otherwise provided
in Section 5.3 hereof (and subject to Section 6.5 hereof), the occurrence of all of the following:

     (i) termination or expiration of all commitments to extend credit that would constitute
BlueBay Obligations;

     (ii) payment in full in cash of the principal of and interest (including interest
accruing on or after the commencement of any Insolvency or Liquidation Proceeding at the
rate provided for in the respective BlueBay Documents, whether or not such interest would be
allowed in any such Insolvency or Liquidation Proceeding) and premium (if any) on all
BlueBay Obligations; and

     (iii) payment in full in cash of all other BlueBay Obligations that are outstanding and
unpaid at the time the termination, expiration and/or discharge set forth in clauses (i) and
(ii) above have occurred (other than any obligations for taxes, costs, indemnifications and
other contingent liabilities in respect of which no claim or demand for payment has been
made at such time).

3

 

          “Discharge of IESA Obligations” shall mean, except to the extent otherwise provided in
Section 5.3 hereof (and subject to Section 6.5 hereof), the occurrence of all of the following:

     (i) termination or expiration of all commitments to extend credit that would constitute
IESA Obligations;

     (ii) payment in full in cash of the principal of and interest (including interest
accruing on or after the commencement of any Insolvency or Liquidation Proceeding at the
rate provided for in the respective IESA Documents, whether or not such interest would be
allowed in any such Insolvency or Liquidation Proceeding) and premium (if any) on all IESA
Obligations; and

     (iii) payment in full in cash of all other IESA Obligations that are outstanding and
unpaid at the time the termination, expiration and/or discharge set forth in clauses (i) and
(ii) above have occurred (other than any obligations for taxes, costs, indemnifications and
other contingent liabilities in respect of which no claim or demand for payment has been
made at such time).

          “Governmental Authority” shall mean the government of the United States of America,
any other nation or any political subdivision thereof, whether state or local, and any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government.

          “IESA” shall have the meaning set forth in the first paragraph of this Agreement.

          “IESA Collateral Documents” shall mean the IESA Credit Agreement and any other
agreement, document or instrument pursuant to which a Lien is granted securing any IESA Obligations
or under which rights or remedies with respect to such Liens are governed (including such copyright
security agreements and trademark security agreements that the Borrower may execute from time to
time in favor of IESA in compliance with the terms of this Agreement), together with any
amendments, replacements, modifications, extensions, renewals or supplements to, or restatements
of, any of the foregoing in accordance with the terms thereof and hereof.

          “IESA Credit Agreement” shall mean that certain Credit Agreement, dated as of the date
hereof, between IESA, as lender, and the Borrower, as borrower, together with any amendments,
replacements, modifications, extensions, renewals or supplements to, or restatements of, any of the
foregoing in accordance with the terms thereof and hereof.

          “IESA Documents” shall mean the IESA Credit Agreement, the IESA Collateral Documents
and each of the other agreements, documents and instruments providing for or evidencing any other
IESA Obligations, and any other document or instrument executed or delivered at any time in
connection with any IESA Obligation, together with any amendments, replacements, modifications,
extensions, renewals or supplements to, or restatements of, any of the foregoing in accordance with
the terms thereof and hereof.

4

 

          “IESA Obligations” shall mean, collectively, the IESA Pari Passu Obligations and the
IESA Second-Lien Obligations.

          “IESA Pari Passu Obligations” shall mean all liabilities and obligations, contingent
or otherwise (including guaranty obligations), of every nature of the Borrower and each other
Credit Party from time to time owed to IESA, under any IESA Document, including those which are
designated as “Obligations” under the IESA Documents, whether for principal, premium, interest on
such principal (including interest which, but for the filing of a petition in bankruptcy with
respect to such Person, would have accrued on any IESA Obligation at the rate provided in the
respective documentation, whether or not a claim is allowed against the Borrower or any other
Credit Party for such interest in the related bankruptcy proceeding), fees, expenses,
indemnification or otherwise; provided that, the aggregate principal amount of IESA Pari
Passu Obligations shall not exceed $10,000,000 and shall be deemed to be the first $10,000,000 in
principal advanced by IESA pursuant to the IESA Credit Agreement.

          “IESA Second-Lien Obligations” shall mean all liabilities and obligations, contingent
or otherwise, (including guaranty obligations) of every nature of the Borrower and each other
Credit Party from time to time owed to IESA (but only to the extent the principal amount of such
liabilities and obligations exceed, and are in addition to, the IESA Pari Passu Obligations), under
any IESA Document, including those which are designated as “Obligations” under the IESA Documents,
whether for principal, premium, interest on such principal (including interest which, but for the
filing of a petition in bankruptcy with respect to such Person, would have accrued on any IESA
Obligation at the rate provided in the respective documentation, whether or not a claim is allowed
against the Borrower or any other Credit Party for such interest in the related bankruptcy
proceeding), fees, expenses, indemnification or otherwise; provided that, the aggregate
principal amount of IESA Second-Lien Obligations shall not exceed $10,000,000.

          “Indebtedness” of any Person shall mean, without duplication, (a) all obligations of
such Person for borrowed money or with respect to deposits or advances of any kind, (b) all
obligations of such Person evidenced by preferred stock, bonds, debentures, notes or similar
instruments, (c) all obligations of such Person upon which interest charges are customarily paid,
(d) all obligations of such Person under conditional sale or other title retention agreements
relating to property acquired by such Person, (e) all obligations of such Person in respect of the
deferred purchase price of property or services (excluding current accounts payable incurred in the
ordinary course of business), (f) all Indebtedness of others secured by (or for which the holder of
such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on
property owned or acquired by such Person, up to the value of the property subject to such Lien or,
if greater, the Indebtedness secured thereby that is assumed by such Person, (g) all Guarantees (as
defined in the BlueBay Credit Agreement) by such Person of Indebtedness of
others, (h) all Capital Lease Obligations (as defined in the BlueBay Credit Agreement) of such
Person, (i) all obligations, contingent or otherwise, of such Person as an account party in respect
of letters of credit and letters of guaranty, (j) all obligations, contingent or otherwise, of such
Person in respect of bankers’ acceptances, and (k) all Off-Balance Sheet Liabilities (as defined in
the BlueBay Credit Agreement) of such Person. The Indebtedness of any Person shall include the
Indebtedness of any other entity (including any partnership in which such Person is a general
partner) to the extent such Person is liable therefor as a result of such Person’s ownership
interest

5

 

in or other relationship with such entity, except to the extent the terms of such
Indebtedness provide that such Person is not liable therefor.

          “Insolvency or Liquidation Proceeding” shall mean (a) any voluntary or involuntary
case or proceeding under the Bankruptcy Code with respect to any Credit Party, (b) any other
voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or any
receivership, liquidation, reorganization or other similar case or proceeding with respect to any
Credit Party or with respect to a material portion of its respective assets, (c) any liquidation,
dissolution, reorganization or winding up of any Credit Party, whether voluntary or involuntary and
whether or not involving insolvency or bankruptcy or (d) any assignment for the benefit of
creditors or any other marshalling of assets and liabilities of any Credit Party.

          “Lien” shall mean any mortgage, pledge, hypothecation, assignment, deposit
arrangement, security interest, encumbrance, lien (statutory or other), rights of setoff or
recoupment, preference, priority or other security agreement of any kind or nature whatsoever
(including any agreement to give any of the foregoing, any conditional sale or other title
retention agreement, any financing or similar statement or notice filed under the UCC or any other
similar recording or notice statute or other law, and any lease having substantially the same
effect as any of the foregoing).

          “New Agent” shall have the meaning set forth in Section 5.3 hereto.

          “Permitted Refinancing” shall mean, as to any Indebtedness under the BlueBay Credit
Agreement, the Refinancing of such Indebtedness, it being understood and agreed that “Permitted
Refinancing” may include any DIP Financing.

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

          “Priority Lien” shall have the meaning set forth in Section 5.1(c).

          “Pro Rata Share” shall mean (i) with respect to the Secured Parties, the percentage
obtained by dividing (x) the aggregate outstanding principal amount payable (whether or not
then due) to the Secured Parties under the Blue Bay Credit Agreement by (y) the sum of the
aggregate outstanding principal amount payable (whether or not then due) to the Secured Parties
under the BlueBay Credit Agreement plus the aggregate outstanding principal amount payable
(whether or not then due) of the IESA Pari Passu Obligations to IESA under the IESA Credit
Agreement and (ii) with respect to IESA, the percentage obtained by dividing (x) the
aggregate outstanding principal amount payable of the IESA Pari Passu Obligations payable (whether
or not then due) to IESA under the IESA Credit Agreement by (y) the sum of the aggregate
outstanding principal amount payable (whether or not then due) to the Secured Parties under
the BlueBay Credit Agreement plus the aggregate outstanding principal amount of the IESA
Pari Passu Obligations payable (whether or not then due) to IESA under the IESA Credit Agreement.

          “Recovery” shall have the meaning set forth in Section 6.5 hereof.

          “Refinance” shall mean, in respect of any Indebtedness, to refinance, extend, renew,
retire, defease, amend, modify, supplement, restructure, replace, refund or repay, or to

6

 

issue
other Indebtedness, in exchange or replacement for, such Indebtedness in whole or in part.
“Refinanced” and “Refinancing” shall have correlative meanings.

          “Secured Parties” shall have the meaning set forth in the first recital hereto.

          “Shared Collateral” shall mean the Collateral as defined in the IESA Credit Agreement.

          “Shared IP Intercreditor Agreement” shall mean that certain Intercreditor Agreement,
dated as of November 21, 2007, by and among the Borrower, the Agent, and IESA.

          “Subsidiary” shall mean, as to any Person, (i) any corporation more than 50% of whose
stock of any class or classes having by the terms thereof ordinary voting power to elect a majority
of the directors of such corporation (irrespective of whether or not at the time stock of any class
or classes of such corporation shall have or might have voting power by reason of the happening of
any contingency) is at the time owned by such Person and/or one or more Subsidiaries of such Person
or (ii) any partnership, limited liability company, association, joint venture or other entity in
which such Person and/or one or more Subsidiaries of such Person has more than a 50% equity
interest at the time.

          “Subsidiary Guarantor” shall mean each Subsidiary of the Borrower (other than any
Affected Foreign Subsidiary (as defined in the BlueBay Credit Agreement)).

          “Uniform Commercial Code” or “UCC” shall mean the Uniform Commercial Code as
in effect from time to time in the relevant jurisdiction.

          1.2 Terms Generally. The definitions of terms herein shall apply equally to
the singular and plural forms of the terms defined. Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase
“without limitation.” The word “will” shall be construed to have the same meaning
and effect as the word “shall”. Unless the context requires otherwise (a) any definition
of or reference to any agreement, instrument or other document herein shall be construed as
referring to such agreement, instrument or other document as from time to time amended,
supplemented or otherwise modified, (b) any reference herein to any Person shall be construed to
include such Person’s successors and assigns, (c) the words “herein”, “hereof” and
“hereunder”, and words of similar import, shall be construed to refer to this Agreement in
its entirety and not to any particular provision of this Agreement, (d) all references herein to
Exhibits or Sections shall be construed to refer to Exhibits or Sections of this
Agreement, (e) the words “asset” and “property” shall be construed to have the
same meaning and effect and to refer to any and all tangible and intangible assets and properties,
including cash, securities, accounts and contract rights, (f) terms defined in the UCC but not
otherwise defined herein shall have the same meanings herein as are assigned thereto in the UCC,
(g) reference to any law shall mean such law as amended, modified, codified, replaced or
re-enacted, in whole or in part, and in effect on the date hereof, including rules, regulations,
enforcement procedures and any interpretations promulgated thereunder, and (h) references to
Sections or clauses shall refer to those portions of this Agreement, and any

7

 

references to a clause
shall, unless otherwise identified, refer to the appropriate clause within the same Section in
which such reference occurs.

          SECTION 2. Priority of Liens.

          2.1 Pari Passu Liens and Second Liens. Notwithstanding the date, manner, order or
method of grant, creation, attachment or perfection of any Liens securing the BlueBay Obligations
granted on the Shared Collateral or of any Liens securing the IESA Obligations granted on the
Shared Collateral and notwithstanding any provision of the UCC, or any applicable law or the
BlueBay Documents and/or the IESA Documents or any other circumstance whatsoever (including, except
as set forth in Section 2.2, any non-perfection of any Lien purporting to secure the BlueBay
Obligations and/or IESA Obligations), the Agent, the Secured Parties and IESA hereby agree that:

          (a) (i) any Lien on the Shared Collateral securing any BlueBay Obligations now or hereafter
held by or on behalf of the Agent or the Secured Parties or any agent or trustee therefor,
regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or
otherwise, shall be pari passu in all respects to any Lien on the Shared Collateral securing any of
the IESA Pari Passu Obligations and (ii) any Lien on the Shared Collateral securing any IESA Pari
Passu Obligations now or hereafter held by or on behalf of IESA or any agent or trustee therefor
regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or
otherwise, shall be pari passu in all respects to all Liens on the Shared Collateral securing any
BlueBay Obligations;

          (b) (i) any Lien on the Shared Collateral securing any BlueBay Obligations now or hereafter
held by or on behalf of the Agent or the Secured Parties or any agent or trustee therefor,
regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or
otherwise, shall be senior in all respects and prior to any Lien on the Shared Collateral securing
any IESA Second-Lien Obligations and (ii) any Lien on the Shared Collateral securing any IESA
Second-Lien Obligations now or hereafter held by or on behalf of IESA or any agent or trustee
therefor, regardless of how acquired, whether by grant, possession, statute, operation of law,
subrogation or otherwise, shall be junior and subordinate in all respects to any Lien on the Shared
Collateral securing any Blue Bay Obligations; and

          (c) (i) any Lien on the Shared Collateral securing any IESA Pari Passu Obligations now or
hereafter held by or on behalf of IESA or any agent or trustee therefor, regardless of how
acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall
be senior in all respects and prior to any Lien on the Shared Collateral securing any IESA
Second-Lien Obligations and (ii) any Lien on the Shared Collateral securing
any IESA Second-Lien Obligations now or hereafter held by or on behalf of IESA or any agent or
trustee therefor, regardless of how acquired, whether by grant, possession, statute, operation of
law, subrogation or otherwise, shall be junior and subordinate in all respects to any Lien on the
Shared Collateral securing any IESA Pari Passu Obligations.

          2.2 Certain Limitations Regarding the Relative Lien Priorities. The relative
priorities set forth in this Agreement are premised upon the assumption that any Liens of the Agent
or IESA in the Shared Collateral have been duly and properly created and perfected and

8

 

such Liens
and the obligations relating thereto are not avoidable for any reason. Accordingly, to the extent
that (but only for so long as) any such Liens of the Agent or IESA in the Shared Collateral have
not been duly and properly created or perfected or such Liens or the obligations relating thereto
are avoided for any reason, then the relative lien priorities and the application of proceeds
provided for herein shall not be effective as to the particular property, and the proceeds thereof,
subject to such Liens that were not properly created or perfected or the Liens or related
obligations that were avoided.

          2.3 Prohibition on Contesting Liens. Each of the Agent (on behalf of itself and the
Secured Parties) and IESA agrees that it shall not (and hereby waives any right to) contest or
support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation
Proceeding), (i) the validity or enforceability of any Collateral Document or any obligation
thereunder, (ii) the validity, perfection, priority or enforceability of the Liens, mortgages,
assignments and security interests granted pursuant to the Collateral Documents with respect to the
BlueBay Obligations or the IESA Obligations or (iii) the relative rights and duties of the holders
of the BlueBay Obligations and the IESA Obligations granted and/or established in this Agreement or
any other Collateral Document with respect to such Liens, mortgages, assignments, and security
interests; provided that nothing in this Agreement shall be construed to prevent or
impair the rights of the Agent, any Secured Party, or IESA to enforce this Agreement.

          2.4 No New Liens. So long as the Discharge of BlueBay Obligations has not occurred,
the parties hereto agree that, subject to Section 6.3 hereof and except for Permitted Encumbrances
(as defined in the BlueBay Credit Agreement and the IESA Credit Agreement), the Borrower shall not,
and shall not permit any other Credit Party to, grant or permit any additional Liens, or take any
action to perfect any additional Liens, on any asset or property to secure any IESA Obligation.
For the avoidance of doubt, the foregoing limitation on additional Liens and actions to perfect
additional Liens shall not apply to the respective Liens granted to IESA in the Shared Collateral,
subject to the terms hereof. To the extent that the foregoing is not complied with for any reason,
without limiting any other rights and remedies available to the Agent and/or the Secured Parties,
IESA agrees that any amounts received by or distributed to it pursuant to or as a result of Liens
granted in contravention of this Section 2.4 shall be subject to Section 4.3 hereof.

          2.5 Similar Liens and Agreements. The parties hereto agree that it is their intention that the Liens securing the IESA
Obligations not be more expansive than the Liens securing the BlueBay Obligations. In furtherance
of the foregoing and of Section 8.9 hereof, IESA agrees (including, for avoidance of doubt, in its
capacity as a holder of IESA Pari Passu Obligations and IESA Second-Lien Obligations), subject to
the other provisions of this Agreement that, upon request by the Agent, to cooperate in good faith
(and to direct their counsel to cooperate in good faith) from time to time in order to determine
the specific items included in the Shared Collateral and the steps taken to perfect the Liens
thereon and the identity of the respective parties obligated under the IESA Documents.

          SECTION 3. Enforcement.

          3.1 Exercise of Remedies. (a) So long as the Discharge of BlueBay Obligations has
not occurred, whether or not any Insolvency or Liquidation Proceeding has been

9

 

commenced by or
against the Borrower or any other Credit Party: (i) IESA (including, for avoidance of doubt, in
its capacity as a holder of IESA Pari Passu Obligations and IESA Second-Lien Obligations) will not
(A) exercise or seek to exercise any rights or remedies (including recoupment or setoff (whether by
contract or by operation of law), proxy or other voting rights) with respect to any Shared
Collateral or institute or commence, or join with any Person in commencing, any action or
proceeding with respect to such rights or remedies (including any action of foreclosure,
enforcement, collection or execution and any Insolvency or Liquidation Proceeding),
provided, that IESA may exercise any or all such rights and remedies as a result of an
Event of Default under (and as defined in) the IESA Credit Agreement after the passage of 270 days
after the occurrence of such Event of Default and the receipt by the Agent of written notice that
the IESA Obligations are currently due and payable in full in accordance with the terms of the IESA
Credit Agreement as a result thereof (the “Standstill Period”), provided further, that
notwithstanding anything herein to the contrary, in no event shall IESA exercise any rights or
remedies with respect to the Shared Collateral if, notwithstanding the expiration of the Standstill
Period, the Agent or the Secured Parties shall have commenced and be diligently pursuing the
exercise of their rights and remedies with respect to the Collateral or any material portion
thereof or (B) contest, protest or object to any foreclosure proceeding or action brought by the
Agent or the Secured Parties or any other exercise by the Agent or the Secured Parties, of any
rights and remedies relating to the Shared Collateral under the BlueBay Documents or otherwise, or
object to the forbearance by the Agent or the Secured Parties from bringing or pursuing any
foreclosure proceeding or action or any other exercise of any rights or remedies relating to the
Shared Collateral; and (ii) the Agent and the Secured Parties shall have the exclusive right to
enforce rights, exercise remedies (including recoupment or set-off (whether by contract or by
operation of law) and the right to credit bid their debt) and make determinations regarding the
release, disposition, or restrictions with respect to the Shared Collateral without any
consultation with or the consent of IESA (including, for avoidance of doubt, in its capacity as a
holder of IESA Pari Passu Obligations and IESA Second-Lien Obligations), all as though the IESA
Obligations did not exist.

In exercising rights and remedies with respect to the Shared Collateral, the Agent and the Secured
Parties may enforce the provisions of the BlueBay Documents and exercise remedies
thereunder, all in such manner as they may determine in the exercise of their sole discretion.
Such exercise and enforcement shall include the rights of an agent appointed by them to sell or
otherwise dispose of the Shared Collateral upon foreclosure, to incur expenses in connection with
such sale or disposition, and to exercise all the rights and remedies of a secured creditor under
the Uniform Commercial Code of any applicable jurisdiction and of a secured creditor under the
Bankruptcy Laws of any applicable jurisdiction.

          (b) IESA (including, for avoidance of doubt, whether in its capacity as a holder of IESA Pari
Passu Obligations or IESA Second-Lien Obligations) (i) agrees that it will not take any action that
would hinder, delay, limit or prohibit any exercise of remedies under the BlueBay Documents,
including any collection, sale, lease, exchange, transfer or other disposition of the Shared
Collateral, whether by foreclosure or otherwise, or that would limit, invalidate, avoid or set
aside any Lien or Collateral Document or subordinate the priority of the BlueBay Obligations to the
IESA Obligations, or that would grant the Liens securing the IESA Second-Lien Obligations a ranking
equal to the Liens securing the IESA Pari Passu Obligations or the BlueBay Obligations and (ii)
subject to the extent permitted by applicable law, hereby waives

10

 

any and all rights it may have as
a junior Lien creditor or otherwise (whether arising under the UCC or under any other law) to
object to the manner in which the Agent or the Secured Parties seek to enforce or collect the
BlueBay Obligations or the Liens granted in any of the BlueBay Collateral, regardless of whether
any action or failure to act by or on behalf of the Agent or the Secured Parties is adverse to the
interest of IESA (including, for avoidance of doubt, in its capacity as a holder of IESA Pari Passu
Obligations and IESA Second-Lien Obligations).

          (c) IESA hereby acknowledges and agrees that no covenant, agreement or restriction contained
in the IESA Collateral Documents or any other IESA Document shall be deemed to restrict in any way
the rights and remedies of the Agent or the Secured Parties with respect to the BlueBay Collateral
as set forth in this Agreement and the BlueBay Documents.

          SECTION 4. Payments.

          4.1 Application of Proceeds. Any proceeds of any Shared Collateral received after the
occurrence of an “event of default” under the BlueBay Credit Agreement or received pursuant to the
enforcement of any Collateral Document or the exercise of any remedial provision thereunder,
together with all other proceeds received by the Agent, the Secured Parties, or IESA (including all
funds received in respect of post-petition interest or fees and expenses) as a result of any such
enforcement or the exercise of any such remedial provision or as a result of any distribution of or
in respect of any Shared Collateral (whether or not expressly characterized as such) upon or in any
Insolvency or Liquidation Proceeding with respect to any Credit Party, or the application of any
Shared Collateral (or proceeds thereof) to the payment thereof or any distribution of the Shared
Collateral (or proceeds thereof) upon the liquidation or dissolution of any Credit Party, shall be
applied as follows:

     first, to the payment of the costs and expenses of such sale, collection or
other realization, including compensation to BlueBay and its agents and counsel,
and all expenses, liabilities and advances made or incurred by BlueBay in
connection therewith;

     second, to the payment of the outstanding BlueBay Obligations and IESA Pari
Passu Obligations, which payments shall be made in accordance with the respective
Pro Rata Share of the Secured Parties and IESA (as holder of the IESA Pari Passu
Obligations), until, respectively, the Discharge of the BlueBay Obligations and the
Discharge of the IESA Pari Passu Obligations; and

     third, to the payment of the outstanding IESA Second-Lien Obligations, which
payments shall be made until the Discharge of the IESA Second-Lien Obligations.

          4.2 Mandatory and Voluntary Prepayments. (a) Notwithstanding anything to the contrary
set forth in this Agreement but subject to Section 4.1, the Borrower may pay to IESA, and IESA may
accept, for application to the IESA Second-Lien Obligations, mandatory prepayments pursuant to
Section 2.05 of the IESA Credit Agreement equal to the amount by which the Borrower’s cash receipts
(excluding proceeds of Loans under and as defined in the IESA Credit Agreement) exceeded the
Borrower’s cash disbursements during the most recently

11

 

ended four-week period, as determined with
reference to the applicable Certified Variance Report (as defined in the BlueBay Credit Agreement),
it being understood that nothing in the Agreement shall be construed to require the Borrower to
make mandatory prepayments of excess cash pursuant to Section 2.11(g) of the BlueBay Credit
Agreement until the IESA Second-Lien Obligations have been repaid.

          (b) All other amounts which the Borrower is permitted or required to pay to the Agent or IESA
for application to the BlueBay Obligations or the IESA Pari Passu Obligations, as the case may be,
under the terms of, respectively, the BlueBay Credit Agreement and the IESA Credit Agreement, shall
be payable to the Agent and IESA (including, for avoidance of doubt, in its capacity as holder of
the IESA Pari Passu Obligations) for application to the BlueBay Obligations and the IESA Pari Passu
Obligations, in accordance with their Pro Rata Shares.

          For the avoidance of doubt, IESA, on account of the IESA Second-Lien Obligations, shall not be
entitled to mandatory prepayments except as set forth in Section 4.2(a), and shall not be entitled
to any voluntary prepayments, in each case, until the Discharge of the BlueBay Obligations.

          4.3 Payments Over. (a) Until such time as the Discharge of BlueBay Obligations has
occurred, any Shared Collateral or proceeds thereof (together with assets or proceeds subject to
Liens referred to in the final sentence of Section 2.4 hereof) (or any distribution in respect of
the Shared Collateral, whether or not expressly characterized as such) received by IESA (including,
for avoidance of doubt, in its capacity as a holder of IESA Pari Passu Obligations or IESA
Second-Lien Obligations), in connection with the exercise of any right or remedy (including
recoupment or set-off) relating to the Shared Collateral or otherwise that is inconsistent with
this Agreement
shall be segregated and held in trust and forthwith paid over to Agent (for the benefit of the
Secured Parties) in the same form as received, with any necessary endorsements or as a court of
competent jurisdiction may otherwise direct. The Agent is hereby authorized to make any such
endorsements as agent for IESA (including, for avoidance of doubt, in its capacity as a holder of
IESA Pari Passu Obligations or IESA Second-Lien Obligations). This authorization is coupled with
an interest and is irrevocable until such time as this Agreement is terminated in accordance with
its terms.

          (b) Until such time as the Discharge of IESA Obligations has occurred, any Shared Collateral
or proceeds thereof (together with assets or proceeds subject to Liens referred to in the final
sentence of Section 2.4 hereof) (or any distribution in respect of the Shared Collateral, whether
or not expressly characterized as such) received by the Agent or the Secured Parties in connection
with the exercise of any right or remedy (including recoupment or set-off) relating to the Shared
Collateral or otherwise that is inconsistent with this Agreement shall be segregated and held in
trust and forthwith paid over to IESA in the same form as received, with any necessary endorsements
or as a court of competent jurisdiction may otherwise direct. IESA is hereby authorized to make
any such endorsements as agent for the Agent (for the benefit of the Secured Parties).
This authorization is coupled with an interest and is irrevocable until such time as this Agreement
is terminated in accordance with its terms.

          SECTION 5. Other Agreements.

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          5.1 Releases.

          (a) If, in connection with:

     (i) the exercise of the Agent’s remedies in respect of the Shared Collateral provided
for in Section 3.1 hereof, including any sale, lease, exchange, transfer or other
disposition of any such Shared Collateral; or

     (ii) any sale, lease, exchange, transfer or other disposition of any Shared Collateral
permitted under the terms of the BlueBay Documents (whether or not an “event of default”
thereunder or under any IESA Document has occurred and is continuing);

there occurs the release by the Agent of any of its Liens on any part of the Shared Collateral,
then the Liens, if any, of IESA (including, for avoidance of doubt, in its capacity as a holder of
IESA Pari Passu Obligations or IESA Second-Lien Obligations), on such Shared Collateral, shall be
automatically, unconditionally and simultaneously released, and IESA, promptly shall execute and
deliver to the Agent or the Borrower such termination statements, releases and other documents as
the Agent or the Borrower may request to effectively confirm such release, provided, that
the proceeds of such Shared Collateral are applied as contemplated herein and that upon the
Discharge of BlueBay Obligations any remaining proceeds are paid over to IESA for application to
the IESA Second-Lien Obligations.

          (b) Until the Discharge of BlueBay Obligations occurs, IESA, hereby irrevocably constitutes
and appoints the Agent and any officers or agents of the Agent, with full power of substitution, as
its true and lawful attorney-in-fact with full irrevocable power and
authority in the place and stead of IESA (including, for avoidance of doubt, in its capacity
as a holder of IESA Pari Passu Obligations or IESA Second-Lien Obligations) or in the Agent’s own
name, from time to time in such Agent’s discretion, for the purpose of carrying out the terms of
this Section 5.1, to take any and all appropriate action and to execute any and all documents and
instruments which may be necessary or desirable to accomplish the purposes of this Section 5.1,
including any endorsements or other instruments of transfer or release.

          (c) If, prior to the Discharge of BlueBay Obligations, a subordination of the Lien of the
Agent on Shared Collateral is permitted (or believed by the Agent to be permitted) under the
BlueBay Credit Agreement to another Lien permitted under the BlueBay Credit Agreement (a
“Priority Lien”), then the Agent is authorized to execute and deliver a subordination
agreement with respect thereto in form and substance satisfactory to it, and IESA shall promptly
execute and deliver to the Agent and the Borrower an identical subordination agreement
subordinating the Liens of IESA to such Priority Lien, provided that the Liens of IESA
remain pari passu with (or subordinated and second-priority to, as the case may be) the Liens of
the Agent in accordance with the terms of this Agreement.

          5.2 Amendments to IESA Documents.

          (a) Without the prior written consent of the Agent, no IESA Document may be assigned, amended,
supplemented, restated, Refinanced, or otherwise modified.

13

 

          (b) In the event the Agent or the Secured Parties enters into any amendment, waiver or consent
in respect of any of the BlueBay Collateral Documents for the purpose of adding to, or deleting
from, or waiving or consenting to any departures from any provisions of, any BlueBay Collateral
Document or changing in any manner the rights of the Agent, the other Secured Parties or the
Borrower thereunder, then such amendment, waiver or consent shall apply automatically to any
comparable provision of the comparable IESA Collateral Document without the consent of IESA and
without any action by IESA or the Borrower, provided, that (A) no such amendment, waiver or
consent shall have the effect of (i) removing assets subject to the Lien of the IESA Collateral
Documents, except to the extent that a release of such Lien is permitted by Section 5.1, or (ii)
imposing additional duties on IESA without its consent and (B) notice of such amendment, waiver or
consent shall have been given to IESA (although the failure to give any such notice shall in no way
affect the effectiveness of any such amendment, waiver or consent).

          5.3 Certain Circumstances Affecting the Discharge of Obligations. If the Borrower, in
connection with and/or immediately after the Discharge of BlueBay Obligations enters into any
Refinancing of any BlueBay Document evidencing a BlueBay Obligation that is a Permitted
Refinancing, then such Discharge of BlueBay Obligations shall automatically be deemed not to have
occurred for the purpose of continuing this Agreement in respect of the obligations under such
Refinancing to the extent the obligations under such Refinancing purport to be secured by Liens on
the Shared Collateral, and the obligations under such Refinancing shall automatically be treated as
BlueBay Obligations for all purposes of this Agreement, and the collateral agent thereunder shall
be the Agent for all purposes of this Agreement. Upon receipt of a notice stating that the
Borrower has entered into a new BlueBay Document (which notice shall include the identity of the
new agent, such agent
(the “New Agent”)), the Agent shall promptly enter into such documents and agreements
(including amendments or supplements to this Agreement) as the Borrower or such New Agent may
reasonably request in order to provide to the New Agent the rights contemplated hereby, in each
case consistent in all material respects with the terms of this Agreement.

          5.4 Rights As Unsecured Creditors. Except as otherwise set forth in this Agreement,
IESA may exercise rights and remedies as an unsecured creditor against the Borrower or any other
Credit Party which has guaranteed the IESA Second-Lien Obligations in accordance with the terms of
the IESA Documents and applicable law. In the event IESA becomes a judgment lien creditor in
respect of IESA Obligations as a result of its enforcement of its rights as an unsecured creditor,
such judgment lien shall be pari passu with (or subordinate and second-priority to, as the case may
be), the Liens securing the BlueBay Collateral on the same basis as the other Liens securing the
IESA Obligations are so subordinated to (or pari passu with, as the case may be) the BlueBay
Obligations under this Agreement. Nothing in this Agreement impairs or otherwise adversely affects
any rights or remedies the Agent or the Secured Parties may have with respect to the BlueBay
Collateral.

          5.5 Bailee for Perfection.

          (a) Subject to the terms of the Agreement, until the Discharge of the BlueBay Obligations has
occurred, the Agent shall be entitled to deal with the BlueBay Collateral in accordance with the
terms of the BlueBay Documents as if the Liens of IESA (including, for avoidance of doubt, whether
in its capacity as the holder of the IESA Pari Passu Obligations or

14

 

the IESA Second-Lien
Obligations) securing the IESA Obligations did not exist. The rights of IESA shall at all times be
subject to the terms of this Agreement and to the Agent’s rights under the BlueBay Documents.

          (b) The Agent shall not have by reason of the BlueBay Documents, the IESA Documents, this
Agreement or any other document a fiduciary relationship in respect of the Secured Parties or IESA
(including, for avoidance of doubt, whether in its capacity as the holder of the IESA Pari Passu
Obligations or the IESA Second-Lien Obligations).

          SECTION 6. Insolvency or Liquidation Proceedings.

          6.1 Finance and Sale Issues. (a) If the Borrower or any other Credit Party shall be
subject to any Insolvency or Liquidation Proceeding and the Agent shall desire to permit the use of
Cash Collateral on which the Agent or any other creditor of the Borrower or any other Credit Party
has a Lien or to permit the Borrower or any other Credit Party to obtain financing (including on a
priming basis), whether from the Secured Parties or any other third party under Section 362, 363 or
364 of the Bankruptcy Code or any other Bankruptcy Law (each, a “DIP Financing”), then IESA
(including, for avoidance of doubt, in its capacity as a holder of IESA Pari Passu Obligations and
IESA Second-Lien Obligations) agrees that it will not oppose or raise any objection to or contest
(or join with or support any third party opposing, objecting to or contesting), such use of
Cash Collateral or DIP Financing (including with respect to any carve-outs for professionals
approved in connection therewith), or the fact that such DIP Financing may be granted Liens on the
Shared Collateral and will not request adequate protection or any other relief in connection
therewith (except as expressly permitted hereunder or agreed in writing by the Agent) and, to the
extent the Liens securing the BlueBay Obligations are subordinated to or pari passu with such DIP
Financing, the Liens of IESA on the Shared Collateral shall be deemed to be subordinated or pari
passu, without any further action on the part of any person or entity, to the Liens securing such
DIP Financing (and all obligations relating thereto), and the Liens securing the IESA Obligations
and the Liens securing the BlueBay Obligations shall have the same relative priority with respect
to the Shared Collateral (and to each other) as if such DIP Financing had not occurred.

          (b) IESA (including, for avoidance of doubt, in its capacity as a holder of IESA Pari Passu
Obligations and IESA Second-Lien Obligations) agrees that it will not object to, oppose or contest
(or join with or support any third party opposing, objecting to or contesting), a sale or other
disposition of any Shared Collateral on the basis that such sale is intended to be free and clear
of its Liens and security interest therein pursuant to Section 363(f) of the Bankruptcy Code if the
Agent and the Secured Parties have consented to such sale or disposition of such assets and the
release of its security interest, provided, that the foregoing shall not preclude or limit
IESA from objecting to, opposing or contesting such sale or other disposition on the basis that
such sale or disposition (i) seeks to sell or dispose of such Shared IP Collateral free and clear
of the IESA’s exclusive licenses and related rights in the Shared IP Collateral (as defined in the
Shared IP Intercreditor Agreement) granted to it (other than as a secured creditor) under the
Junior Agreement (as defined in the Shared IP Intercreditor Agreement) and (ii) would impair or
otherwise adversely impact IESA’s rights and interests as licensee of the Shared IP Collateral
under the Junior Agreement, including (x) the exclusive rights and licenses (but not the security
interests) granted to IESA under the Junior Agreement in the Shared IP Collateral, and (y) the

15

 

rights, elections and remedies available to IESA as a licensee of intellectual property under
section 365 of the Bankruptcy Code.

          6.2 Relief from the Automatic Stay. Until the Discharge of BlueBay Obligations has
occurred, IESA (including, for avoidance of doubt, in its capacity as a holder of IESA Pari Passu
Obligations and IESA Second-Lien Obligations) agrees that it shall not seek relief, pursuant to
Section 362(d) of the Bankruptcy Code or otherwise, from the automatic stay of Section 362(a) of
the Bankruptcy Code or from any other stay in any Insolvency or Liquidation Proceeding to foreclose
upon, or otherwise enforce its security interest in, the Shared Collateral, without the prior
written consent of the Agent, provided, that the foregoing shall not preclude or limit IESA
from seeking such relief in an Insolvency or Liquidation Proceeding to protect, enforce or preserve
its rights and interests under the Junior Agreement (other than as a secured creditor).

          6.3 Adequate Protection. IESA (including, for avoidance of doubt, in its capacity as
a holder of IESA Pari Passu Obligations and IESA Second-Lien Obligations) agrees that it shall not
(i) oppose, object to or contest (or join with or support any third party opposing, objecting to or
contesting) (a) any
request by the Agent or the Secured Parties for adequate protection in any Insolvency or
Liquidation Proceeding (or any granting of such request) or (b) any objection by the Agent or the
Secured Parties to any motion, relief, action or proceeding based on the Agent or the Secured
Parties claiming a lack of adequate protection or (ii) seek or accept any form of adequate
protection under any of Sections 362, 363 and/or 364 of the Bankruptcy Code with respect to the
Shared Collateral, except that, if the Agent or the Secured Parties are granted adequate
protection, to compensate it for the diminution in the value of the Liens on the Shared Collateral
securing the BlueBay Obligations, in the form of (A) cash payments, such cash payments shall be
shared with IESA in an amount sufficient for application to the BlueBay Obligations and the IESA
Pari Passu Obligations, in accordance with their Pro Rata Shares, and (B) replacement Liens on the
assets of the Borrower or any other Person, IESA may seek or request adequate protection in the
form of a replacement Lien on the same assets of the Borrower or other Person as awarded to the
Secured Parties with respect to such diminution, which Lien will be pari passu with (or
subordinated and second-priority to, as the case may be) the Liens securing the BlueBay Obligations
(including any replacement Liens granted in respect of the BlueBay Obligations) and any DIP
Financing (and all obligations relating thereto) on the same basis as the other Liens securing the
IESA Obligations are pari passu with (or subordinated and second-priority to, as the case may be)
the BlueBay Obligations under this Agreement.

          6.4 No Waiver; Voting Rights. Except as set forth in section 5.1(a) and 6.1(b) of
this Agreement, nothing contained herein shall prohibit or in any way limit the Agent or the
Secured Parties from objecting on any basis in any Insolvency or Liquidation Proceeding or
otherwise to any action taken by IESA (including, for avoidance of doubt, in its capacity as a
holder of IESA Pari Passu Obligations or IESA Second-Lien Obligations), including the seeking by
IESA (including, for avoidance of doubt, in its capacity as a holder of IESA Pari Passu Obligations
or IESA Second-Lien Obligations) of adequate protection or the assertion by IESA (including, for
avoidance of doubt, in its capacity as a holder of IESA Pari Passu Obligations or IESA Second-Lien
Obligations) of any of its rights and remedies under the IESA Documents or otherwise. The parties
hereto agree that nothing contained in this Agreement is intended to limit the right the Agent and
Secured Parties on the one hand and IESA on the other to vote their

16

 

respective claims to accept or
reject any plan of reorganization or plan of liquidation in connection with an Insolvency or
Liquidation Proceeding.

          6.5 Preference Issues. If any Secured Party or IESA is required in any Insolvency or
Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of the Borrower any
amount (a “Recovery”), then the BlueBay Obligations (if any Secured Party is required to
pay a Recovery) or the IESA Obligations (if IESA is required to pay a Recovery), or both, shall be
reinstated to the extent of such Recovery and the Secured Parties and/or IESA, as the case may be,
shall be entitled to a reinstatement of the BlueBay Obligations and/or the IESA Obligations,
respectively, with respect to all such recovered amounts. If this Agreement shall have been
terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and
such prior termination shall not diminish, release, discharge, impair or otherwise affect the
obligations of the parties hereto from such date of reinstatement. Any amounts received by
IESA on account of the IESA Obligations after the termination of this Agreement shall, in the
event of a reinstatement of this Agreement pursuant to this Section 6.5, be held in trust for and
paid over to the Agent for the benefit of the Secured Parties, for application to the reinstated
BlueBay Obligations. Any amounts received by the Agent on account of the BlueBay Obligations after
the termination of this Agreement shall, in the event of a reinstatement of this Agreement pursuant
to this Section 6.5, be held in trust for and paid over to the IESA for application to the
reinstated IESA Obligations. This Section 6.5 shall survive termination of this Agreement.

          6.6 Reorganization Securities. If, in any Insolvency or Liquidation Proceeding, debt
obligations or securities of the reorganized debtor secured by Liens upon any property of the
reorganized debtor are distributed, pursuant to a plan of reorganization or similar dispositive
restructuring plan, both on account of the BlueBay Obligations and on account of the IESA
Obligations, then IESA may retain such debt or equity obligations or securities, but only to the
extent that its Liens are pari passu with (or subordinated and second-priority to, as the case may
be) the Liens securing the BlueBay Obligations to the same extent and in all instances pursuant to
the provisions of this Agreement.

          6.7 Post-Petition Interest.

          (a) Subject to IESA’s rights hereunder as holder of the IESA Pari Passu Obligations, IESA
shall neither oppose nor seek to challenge any claim by the Agent or any Secured Party for
allowance in any Insolvency or Liquidation Proceeding of BlueBay Obligations consisting of
post-petition interest, fees or expenses. Regardless of whether any such claim for post-petition
interest, fees or expenses is allowed or allowable, and without limiting the generality of the
other provisions of this Agreement, this Agreement expressly is intended to include and does
include the “rule of explicitness” in that this Agreement expressly entitles the Agent and the
Secured Parties, and is intended to provide the Agent and the Secured Parties with the right, to
receive payment of all post-petition interest, fees or expenses through distributions made pursuant
to the provisions of this Agreement even though such interest, fees and expenses are not allowed or
allowable against the bankruptcy estate of the Borrower or any other Grantor under Section
502(b)(2) or Section 506(b) of the Bankruptcy Code or under any other provision of the Bankruptcy
Code or any other Bankruptcy Law.

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          (b) Without limiting the foregoing, it is the intention of the parties hereto that (and to the
maximum extent permitted by law the parties hereto agree that) the BlueBay Obligations (and the
security therefor) constitute a separate and distinct class (and separate and distinct claims) from
the IESA Obligations (and the security therefor).

          6.8 Waiver. IESA waives any claim it may hereafter have against the Agent or any
other Secured Party arising out of the election by the Agent or the Secured Parties of the
application to the claims of any Secured Party of Section 1111(b)(2) of the Bankruptcy Code, and/or
out of the use of any Cash Collateral or DIP Financing arrangement or out of any grant of a
security interest in connection with the BlueBay Collateral in any Insolvency or Liquidation
Proceeding.

          6.9 Limitations. So long as the Discharge of the BlueBay Obligations has not
occurred, without the express written consent of the Agent, IESA shall not (nor shall join with or
support any third party making, opposing, objecting or contesting, as the case may be), in any
Insolvency or Liquidation Proceeding involving any Credit Party, (i) make an election for
application to its claims of Section 1111(b)(2) of the Bankruptcy Code, (ii) oppose, object to or
contest the determination of the extent of any Liens held by any of the Secured Parties or the
value of any claims of the Secured Parties under Section 506(a) of the Bankruptcy Code or (iii)
oppose, object to or contest the payment to the Secured Parties of interest, fees or expenses under
Section 506(b) of the Bankruptcy Code.

          SECTION 7. Reliance; Waivers; Etc.

          7.1 Reliance. IESA acknowledges that it has, independently and without reliance on
the Agent or the Secured Parties, and based on documents and information deemed by it appropriate,
made its own credit analysis and decision to enter into each of the IESA Documents and be bound by
the terms of this Agreement and they will continue to make its own credit decision in taking or not
taking any action under the IESA Documents or this Agreement.

          7.2 No Warranties or Liability. IESA acknowledges and agrees that the Agent and the
Secured Parties have made no express or implied representation or warranty, including with respect
to the execution, validity, legality, completeness, collectability or enforceability of any of the
BlueBay Documents, the ownership of any BlueBay Collateral or the perfection or priority of any
Liens thereon. The Secured Parties will be entitled to manage and supervise their loans and
extensions of credit under the respective BlueBay Documents in accordance with law and as they may
otherwise, in their sole discretion, deem appropriate. Neither the Agent nor the Secured Parties
shall have any duty to IESA to act or refrain from acting in a manner which allows, or results in,
the occurrence or continuance of an event of default or default under any agreements with the
Borrower (including under the BlueBay Documents), regardless of any knowledge thereof which they
may have or be charged with.

          7.3 No Waiver of Lien Priorities.

          (a) No right of the Secured Parties or the Agent to enforce any provision of this Agreement or
any BlueBay Document shall at any time in any way be prejudiced or impaired by any act or failure
to act on the part of the Borrower or by any act or failure to act by

18

 

the Secured Parties or the
Agent, or by any noncompliance by any Person with the terms, provisions and covenants of this
Agreement, any of the BlueBay Documents or any of the IESA Documents, regardless of any knowledge
thereof which the Agent or the Secured Parties may have or be otherwise charged with.

          (b) Without in any way limiting the generality of the foregoing paragraph (but subject to the
rights of the Borrower under the BlueBay Documents), the Secured Parties or the Agent may, at any
time and from time to time in accordance with the BlueBay Documents and/or applicable law, without
the consent of, or notice to, IESA, without incurring any liabilities to IESA and without impairing
or releasing the benefits provided in this Agreement (even if any right of subrogation or other
right or remedy of IESA is affected, impaired or extinguished thereby) do any one or more of the
following:

     (i) make loans and advances to any Credit Party or otherwise extend credit to any
Credit Party, in any amount and on any terms, whether pursuant to a commitment or as a
discretionary advance and whether or not any default or event of default or failure of
condition is then continuing;

     (ii) change the manner, place or terms of payment or change or extend the time of
payment of, or amend, renew, exchange, increase or alter, the terms of any of the BlueBay
Obligations or any Lien on any BlueBay Collateral or guaranty thereof or any liability of
the Credit Parties, or any liability incurred directly or indirectly in respect thereof
(including any increase in or extension of the BlueBay Obligations, without any restriction
as to the amount, tenor or terms of any such increase or extension) or otherwise amend,
renew, exchange, extend, modify or supplement in any manner any Liens held by the Agent or
the Secured Parties, the BlueBay Obligations or any of the BlueBay Documents;

     (iii) except as set forth in Sections 5.1(a) or 6.1(b), sell, exchange, release,
surrender, realize upon, enforce or otherwise deal in any manner and in any order with any
part of the BlueBay Collateral or any liability of the Credit Parties to the Secured Parties
or the Agent or any of them, or any liability incurred directly or indirectly in respect
thereof;

     (iv) settle or compromise any BlueBay Obligation or any other liability of the Borrower
or any security therefor or any liability incurred directly or indirectly in respect thereof
and apply any sums by whomsoever paid and however realized to any liability (including the
BlueBay Obligations) in any manner or order;

     (v) exercise or delay in or refrain from exercising any right or remedy against the
Borrower or any other Person or with respect to any security, elect
any remedy and otherwise deal freely with the Borrower or any BlueBay Collateral and
any security and any guarantor or any liability of the Borrower to the Secured Parties or
any liability incurred directly or indirectly in respect thereof; and

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     (vi) release or discharge any BlueBay Obligation or any guaranty thereof or any
agreement or obligation of the Borrower or any other person or entity with respect thereto.

          (c) IESA agrees not to assert and hereby waives, to the fullest extent permitted by law, any
right to demand, request, plead or otherwise assert or otherwise claim the benefit of, any
marshalling, appraisal, valuation or other similar right that may otherwise be available under
applicable law with respect to the Shared Collateral or any other similar rights a junior secured
creditor may have under applicable law.

          7.4 Waiver of Liability. IESA agrees that the Secured Parties and the Agent shall
have no liability to IESA, and IESA hereby waives any claim against the Secured Parties or the
Agent, arising out of any and all actions which the Secured Parties or a Agent may take or permit
or omit to take with respect to: (i) the BlueBay Documents (including any failure to perfect or
obtain perfected security interests in the BlueBay Collateral), (ii) the collection of the BlueBay
Obligations or (iii) the foreclosure upon, or sale, liquidation or other disposition of, any
BlueBay Collateral. IESA also agrees that the Secured Parties and the Agent have no duty, express
or implied, fiduciary or otherwise, to it in respect of the maintenance or preservation of the
BlueBay Collateral, the BlueBay Obligations or otherwise. None of the Agent or the Secured Parties
nor any of their respective directors, officers, employees or agents will be liable for failure to
demand, collect or realize upon any of the Shared Collateral or for any delay in doing so, or will
be under any obligation to sell or otherwise dispose of any Shared Collateral upon the request of
the Borrower or any other Credit Party or upon the request of IESA, any other holder of IESA
Obligations or any other Person or to take any other action whatsoever with regard to the Shared
Collateral or any part thereof. Without limiting the foregoing, IESA agrees that none of the Agent
or the Secured Parties shall have any duty or obligation to realize first upon any type of BlueBay
Collateral or to sell, dispose of or otherwise liquidate all or any portion of the BlueBay
Collateral in any manner, including as a result of the application of the principles of marshalling
or otherwise, that would maximize the return to any class of creditor holding obligations of any
type (whether BlueBay Obligations or IESA Obligations), notwithstanding that the order and timing
of any such realization, sale, disposition or liquidation may affect the amount of proceeds
actually received by such class of creditors from such realization, sale, disposition or
liquidation.

          7.5 Obligations Unconditional. All rights, interests, agreements and obligations of
the Agent and the Secured Parties, and IESA, respectively, hereunder shall remain in full force and
effect irrespective of:

     (a) any lack of validity or enforceability of any BlueBay Document or any IESA
Document;

     (b) any change in the time, manner or place of payment of, or in any other terms of,
all or any of the BlueBay Obligations or IESA Obligations, or any amendment or waiver or
other modification, including any increase in the amount thereof, whether by course of
conduct or otherwise, of the terms of any BlueBay Document or any IESA Document;

20

 

     (c) any exchange of any security interest in any BlueBay Collateral or any other
collateral, or any amendment, waiver or other modification, whether in writing or by course
of conduct or otherwise, of all or any of the BlueBay Obligations or IESA Obligations or any
guarantee thereof;

     (d) the commencement of any Insolvency or Liquidation Proceeding in respect of the
Borrower; or

     (e) any other circumstances which otherwise might constitute a defense available to, or
a discharge of, the Borrower in respect of the BlueBay Obligations, other than the Discharge
of BlueBay Obligations, or of IESA in respect of this Agreement.

          SECTION 8. Miscellaneous.

          8.1 Conflicts. In the event of any conflict between the provisions of this Agreement
and the provisions of the BlueBay Documents or the IESA Documents, the provisions of this Agreement
shall govern and control.

          8.2 Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement
shall become effective when executed and delivered by the parties hereto. The Secured Parties may
continue, at any time and without notice to IESA, to extend credit and other financial
accommodations and lend monies to or for the benefit of the Borrower constituting BlueBay
Obligations in reliance hereon. The parties hereto each hereby waives any right it may have under
applicable law to revoke this Agreement or any of the provisions of this Agreement. Without
limiting the generality of the foregoing, this Agreement is intended to constitute and shall be
deemed to constitute a “subordination agreement” within the meaning of Section 510(a) of the
Bankruptcy Code and is intended to be and shall be interpreted to be enforceable to the maximum
extent permitted pursuant to applicable nonbankruptcy law. The terms of this Agreement shall
survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding.
Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not
invalidate 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.
All references to the Borrower or any other Credit Party shall include the Borrower or such Credit
Party as debtor and debtor-in-possession and any receiver or trustee for the Borrower (as the case
may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no
further force and effect, (i) with respect to IESA and the IESA Obligations, upon the later of the
date of the Discharge of IESA Obligations, and (ii) with respect to the Agent, the Secured Parties
and the BlueBay Obligations, the date of the Discharge of BlueBay Obligations, subject to the
rights of the Secured Parties under Section 6.5.

          8.3 Amendments; Waivers. No amendment, modification or waiver of any of the
provisions of this Agreement by IESA or the Agent shall be made unless the same shall be in writing
signed on behalf of each party hereto; provided that additional Credit Parties may be added
as parties hereto in accordance with the provisions of Section 8.18 of this Agreement. Each waiver
of the terms of this Agreement, if any, shall be a waiver only with respect to the specific
instance involved and shall not impair the rights of the parties making such waiver or the

21

 

obligations of the other parties to such party in any other respect or at any other time.
Notwithstanding the foregoing, no Credit Party shall have any right to consent to or approve any
amendment, modification or waiver of any provision of this Agreement except to the extent the
liabilities, duties or obligations of such Credit Party are increased or expanded, as the case may
be, as a result of such amendment, modification or waiver.

          8.4 Information Concerning Financial Condition of the Borrower and its Subsidiaries.
The Agent and the Secured Parties, on the one hand, and IESA, on the other hand, shall each be
responsible for keeping themselves informed of (a) the financial condition of the Borrower and its
Subsidiaries and all endorsers and/or guarantors of the BlueBay Obligations or the IESA Obligations
and (b) all other circumstances bearing upon the risk of nonpayment of the BlueBay Obligations or
the IESA Obligations. The Agent and the Secured Parties, on the one hand, and IESA on the other
hand, shall have no duty to advise the other of information known to it or them regarding such
condition or any such circumstances or otherwise. In the event any of the Agent or the Secured
Parties, on the one hand, or IESA, on the other hand, in its sole discretion, undertakes at any
time or from time to time to provide the other any such information, it shall be under no
obligation (w) to make, and it shall not make, any express or implied representation or warranty,
including with respect to the accuracy, completeness, truthfulness or validity of any such
information so provided, (x) to provide any additional information or to provide any such
information on any subsequent occasion, (y) to undertake any investigation or (z) to disclose any
information which, pursuant to accepted or reasonable commercial finance practices, such party
wishes to maintain confidential or is otherwise required to maintain confidential.

          8.5 Subrogation. (a) Subject to the Discharge of BlueBay Obligations, with respect to
the value of any payments or distributions in cash, property or other assets that IESA pays over to
the Agent or the Secured Parties under the terms of this Agreement, IESA shall be subrogated to the
rights of the Agent and the Secured Parties; provided that, IESA hereby agrees not to
assert or enforce all such rights of subrogation it may acquire as a result of any payment
hereunder until the Discharge of BlueBay Obligations has occurred.

          (b) Subject to the Discharge of IESA Obligations, with respect to the value of any payments or
distributions in cash, property or other assets that the Agent or the Secured Parties pay over to
IESA under the terms of this Agreement, the Agent or the Secured Parties shall be subrogated to the
rights of IESA; provided that, the Agent and the Secured Parties hereby agree not to assert
or enforce all such rights of subrogation they may acquire as a result of any payment hereunder
until the Discharge of IESA Obligations has occurred.

          8.6 Application of Payments. All payments received by the Agent or the other Secured
Parties may be applied, reversed and reapplied, in whole or in part, to such part of the BlueBay
Obligations as the Secured Parties, in their sole discretion, deem appropriate. IESA (including,
for the avoidance of doubt, in its capacity as the holder of the IESA Pari Passu Obligations or the
IESA Second-Lien Obligations) assents to any extension or postponement of the time of payment of
the BlueBay Obligations or any part thereof and to any other indulgence with respect thereto, to
any substitution, exchange or release of any security which may at any time secure any part of the
BlueBay Obligations and to the addition or release of any other Person primarily or secondarily
liable therefor.

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          8.7 SUBMISSION TO JURISDICTION; WAIVERS. (a) THE PARTIES HERETO IRREVOCABLY AND
UNCONDITIONALLY SUBMIT TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK
SITTING IN THE BOROUGH OF MANHATTAN, CITY OF NEW YORK AND OF THE UNITED STATES DISTRICT COURT FOR
THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR FOR RECOGNITION OR ENFORCEMENT OF ANY
JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN
RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT
OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES
HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE
ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.

          (b) THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVE, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY OBJECTION WHICH EACH MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY
ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT IN ANY COURT REFERRED TO IN
SECTION 8.7(a) HEREOF. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION
OR PROCEEDING IN ANY SUCH COURT.

          (c) EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY
(WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS
AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

          8.8 Notices. Unless otherwise specifically provided herein, any notice or other
communication herein required or permitted to be given shall be in writing and may be personally
served or sent by courier service, U.S. mail or French mail (as applicable) and shall be deemed to
have been given when delivered in person or by courier service or six Business Days after deposit
in the U.S. mail or French mail, as applicable (registered or certified, with postage prepaid and
properly addressed). For the purposes hereof, the addresses of the parties hereto shall be as set
forth opposite each party’s name on the signature pages hereto, or, as to each

23

 

party, at such other
address as may be designated by such party in a written notice to all of the other parties.

          8.9 Further Assurances. The Agent, on behalf of itself and the Secured Parties under
the BlueBay Documents, IESA and the Borrower and each other Credit Party, agrees that each of them
shall take such further action and shall execute and deliver such additional documents and
instruments (in recordable form, if requested) as the Agent or IESA may reasonably request to
effectuate the terms of and the lien priorities contemplated by this Agreement. IESA, the Agent,
and the Secured Parties agree to be bound by the agreements herein made by them.

          8.10 APPLICABLE LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ITS CONFLICTS OF
LAW PRINCIPLES.

          8.11 Binding on Successors and Assigns. This Agreement shall be binding upon Agent,
the Secured Parties, IESA and their respective successors and assigns.

          8.12 Specific Performance. The Agent and IESA may demand specific performance of this Agreement. The Agent, on behalf
of itself and the Secured Parties under the BlueBay Documents, and IESA, hereby irrevocably waive
any defense based on the adequacy of a remedy at law and any other defense which might be asserted
to bar the remedy of specific performance in any action which may be brought by the Agent or IESA,
as the case may be.

          8.13  Headings. Section headings in this Agreement are included herein for
convenience of reference only and shall not constitute a part of this Agreement for any other
purpose or be given any substantive effect.

          8.14 Counterparts. This Agreement may be executed in counterparts (and by different
parties hereto in different counterparts), each of which shall constitute an original, but all of
which when taken together shall constitute a single contract. Delivery of an executed counterpart
of a signature page of this Agreement or any document or instrument delivered in connection
herewith by telecopy shall be effective as delivery of a manually executed counterpart of this
Agreement or such other document or instrument, as applicable.

          8.15 Authorization. By its signature, each Person executing this Agreement on behalf
of a party hereto represents and warrants to the other parties hereto that it is duly authorized to
execute this Agreement. IESA, the Agent, and the Secured Parties agree to be bound by the
agreements made herein.

          8.16 No Third Party Beneficiaries; Effect of Agreement. This Agreement and the rights
and benefits hereof shall inure to the benefit of each of the Agent, Secured Parties and IESA and
their respective successors and assigns, provided that IESA shall not assign its rights under this
Agreement or its rights or obligations under the IESA Documents (whether by assignment or
participation), in each case, without the Agent’s prior written consent. No other Person shall
have or be entitled to assert rights or benefits hereunder. Nothing in this Agreement shall
impair, as between the Credit Parties and the Agent and the Secured Parties, on the one

24

 

hand, and
the Credit Parties and IESA, on the other hand, the obligations of each Credit Party to pay
principal, interest, fees and other amounts and otherwise honor and perform IESA Obligations as
provided in the BlueBay Documents and the IESA Documents, respectively.

          8.17 Provisions Solely to Define Relative Rights. The provisions of this Agreement
are and are intended solely for the purpose of defining the relative rights of the Secured Parties,
on the one hand, and IESA, on the other hand, in respect of the Shared Collateral. None of the
Borrower, any other Credit Party or any other creditor thereof shall have any rights hereunder.
Nothing in this Agreement is intended to or shall impair the obligations of the Borrower or any
other Credit Party, which are absolute and
unconditional, to pay the BlueBay Obligations and the IESA Obligations as and when the same
shall become due and payable in accordance with the terms of the BlueBay Documents and the IESA
Documents, respectively.

          8.18 Borrower; Additional Credit Parties. It is understood and agreed that the
Borrower on the date of this Agreement shall constitute the original Borrower party hereto. The
original Borrower hereby covenants and agrees to cause each Subsidiary of the Borrower which
becomes a Subsidiary Guarantor after the date hereof to contemporaneously become a party hereto (as
a Credit Party) by executing and delivering to the Agent and IESA an assumption agreement in form
and substance reasonably satisfactory to the Agent and IESA. The parties hereto further agree
that, notwithstanding any failure to take the actions required by the immediately preceding
sentence, each Person which becomes a Subsidiary Guarantor at any time (and any security granted by
any such Person) shall be subject to the provisions hereof as fully as if same constituted a Credit
Party hereto and had complied with the requirements of the immediately preceding sentence.

          8.19 Separate Agreement. This Agreement is separate and independent from, and does
not amend, amend and restate, or supersede the Shared IP Intercreditor Agreement. The respective
rights of the Agent, the Secured Parties and IESA with respect to the Shared IP Collateral (defined
therein) shall be governed by the Shared IP Intercreditor Agreement.

25

 

          IN WITNESS WHEREOF, the parties hereto have caused to be executed this Temporary Liquidity
Facility Intercreditor Agreement as of the date first written above.

	 	 	 	 	 
	Notice Address:

	 	Agent	 	 
	 
	 	 	 	 
	BlueBay High Yield Investments

(Luxembourg) S.A.R.L.

c/o BlueBay Asset Management

77 Grosvenor Street, London,

W1K 3JR, England

Attn: Gina Germano

Facsimile: +44(0)20 7930 7404	 	BLUEBAY HIGH YIELD INVESTMENTS
(LUXEMBOURG) S.A.R.L., as
administrative agent and lender

BY: BLUEBAY ASSET MANAGEMENT PLC,
acting as agent for BlueBay High
Yield Investments (Luxembourg)
S.a.r.l.
	 
	 	 	 	 
	With a copy to:
	 	 	 	 
	White & Case LLP

	 	
	 	
	 

	 	 	 	 
	1155 Avenue of the Americas

	 	By:	 	/s/ Frederic Nada
	New York New York 10036

	 	 	 	Name: Frederic Nada
	Attn: Sandy Qusba
	 	 	 	Title: Vice President
	Facsimile: +1 212-354-8113
	 	 	 	 

	 	 	 
	 

	 	Temporary Liquidity Facility Intercreditor
Agreement

 

 

	 	 	 	 	 
	Notice Address:

	 	IESA	 	 
	 
	 	 	 	 
	1 place Verrazzano

69252 Lyon Cedex 09

France

+33.4.37.64.30.00

Attn: Legal Affairs
	 	INFOGRAMES ENTERTAINMENT,

     S.A., in its capacity as IESA
	Facsimile: +33.1.4.37.64.30.95

	 	By:
	 	/s/ David Gardner
	 

	 	 	 	 
	 

	 	 	 	Name: David Gardner
	 

	 	 	 	Title: CEO
	 
	 	 	 	 
	With a copy to:
	 	 	 	 
	Morrison & Foerster LLP
	 	 	 	 
	555 West Fifth Street, Suite 3500
	 	 	 	 
	Los Angeles, California 90013-1024
	 	 	 	 
	Attn: Russell Weiss
	 	 	 	 
	Facsimile: +1 212-468-7900
	 	 	 	 
	 
	 	 	 	 
	and
	 	 	 	 
	VEIL JOURDE
	 	 	 	 
	38, Rue de Lisbonne
	 	 	 	 
	75008 Paris
	 	 	 	 
	France
	 	 	 	 
	Attn: Emmanuel Rosenfeld
	 	 	 	 
	Facsimile: +33.1.53.53.94. 94
	 	 	 	 

	 	 	 
	 

	 	Temporary Liquidity Facility Intercreditor
Agreement

 

 

	 	 	 	 	 
	Notice Address:
 	 	Borrower
	 
	 	 
	417 Fifth Avenue	 	ATARI, INC.,
	New York, New York 10016	 	as Borrower
	Attn: Arturo Rodriguez
	 	 	 	 
	Facsimile: 212-726-6590
	 	 	 	 
	 
	 	 	 	 
	With a copy to:
	 	 	 	 
	Milbank, Tweed, Hadley & McCloy

	 	By:
	 	/s/ Eugene I. Davis
	 

	 	 	 	 
	One Chase Manhattan Plaza

	 	 	 	Name: Eugene I. Davis
	New York, New York 10005

	 	 	 	Title: Chairman of the Board of Directors
	Attn: Thomas C. Janson
	 	 	 	 
	Facsimile: (212) 822-5899
	 	 	 	 

	 	 	 
	 

	 	Temporary Liquidity Facility Intercreditor
Agreement

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