Document:

EX-10.N

 

Exhibit 10 (n)

EXECUTION COPY

$1,000,000,000

AMENDED AND RESTATED FIVE-YEAR CREDIT AGREEMENT

among

ARROW ELECTRONICS, INC.,

THE SUBSIDIARY BORROWERS

The Several Banks

from Time to Time Parties Hereto,

BANK OF AMERICA, N.A.,

THE BANK OF NOVA SCOTIA,

BNP PARIBAS and

WACHOVIA BANK NATIONAL ASSOCIATION

as Syndication Agents

and

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent

__________

J.P. MORGAN SECURITIES INC.,

as Arranger

Dated as of January 11, 2007

 

 

Table of Contents

	 	 	 	 	 
	 	 	Page
	SECTION 1. DEFINITIONS
	 	 	1	 
	1.1 Defined Terms
	 	 	1	 
	1.2 Other Definitional Provisions
	 	 	24	 
	1.3 Accounting Determinations
	 	 	24	 
	 
	 	 	 	 
	SECTION 2. THE COMMITTED RATE LOANS
	 	 	24	 
	2.1 Committed Rate Loans
	 	 	24	 
	2.2 Procedure for Committed Rate Loan Borrowing
	 	 	25	 
	2.3 Repayment of Committed Rate Loans; Evidence of Debt
	 	 	26	 
	2.4 Termination or Reduction of Commitments
	 	 	26	 
	2.5 [reserved]
	 	 	26	 
	2.6 [reserved]
	 	 	26	 
	2.7 [reserved]
	 	 	26	 
	2.8 [reserved]
	 	 	27	 
	2.9 [reserved]
	 	 	27	 
	2.10 Commitment Increases
	 	 	27	 
	2.11 Refunding of Committed Rate Loans Denominated in Available Foreign
Currencies
	 	 	28	 
	2.12 Certain Borrowings of Committed Rate Loans and Refunding of Loans
	 	 	30	 
	2.13 Extension of Revolving Termination Date
	 	 	31	 
	 
	 	 	 	 
	SECTION 3. THE COMPETITIVE ADVANCE LOANS
	 	 	32	 
	3.1 Competitive Advance Loans
	 	 	32	 
	3.2 Procedure for Competitive Advance Loan Borrowing
	 	 	32	 
	3.3 Repayment of Competitive Advance Loans; Evidence of Debt
	 	 	34	 
	3.4 Prepayments
	 	 	34	 
	 
	 	 	 	 
	SECTION 4. THE SWING LINE LOANS
	 	 	34	 
	4.1 Swing Line Loans
	 	 	34	 
	4.2 Procedure for Swing Line Borrowing
	 	 	35	 
	4.3 Repayment of Swing Line Loans; Evidence of Debt
	 	 	35	 
	4.4 Allocating Swing Line Loans; Swing Line Loan Participations
	 	 	36	 
	 
	 	 	 	 
	SECTION 5. THE LETTERS OF CREDIT
	 	 	37	 
	5.1 L/C Commitment
	 	 	37	 
	5.2 Procedure for Issuance of Letters of Credit under this Agreement
	 	 	38	 
	5.3 Fees, Commissions and Other Charges
	 	 	39	 
	5.4 L/C Participations
	 	 	39	 
	5.5 Reimbursement Obligation of the Specified Borrowers
	 	 	40	 
	5.6 Obligations Absolute
	 	 	41	 
	5.7 Letter of Credit Payments
	 	 	41	 
	5.8 Application
	 	 	41	 

-i-

 

	 	 	 	 	 
	 	 	Page
	SECTION 6. LOCAL CURRENCY FACILITIES
	 	 	42	 
	6.1 Terms of Local Currency Facilities
	 	 	42	 
	6.2 Reporting of Local Currency Outstandings
	 	 	43	 
	6.3 Refunding of Local Currency Loans
	 	 	43	 
	 
	 	 	 	 
	SECTION 7. THE TERM LOANS
	 	 	45	 
	7.1 Term Commitments
	 	 	45	 
	7.2 Procedure for Term Loan Borrowing
	 	 	45	 
	7.3 Repayment of Term Loans
	 	 	46	 
	 
	 	 	 	 
	SECTION 8. CERTAIN PROVISIONS APPLICABLE TO THE LOANS AND LETTERS OF CREDIT
	 	 	46	 
	8.1 Facility Fee; Utilization Fee; Other Fees; Other Payments
	 	 	46	 
	8.2 Computation of Interest and Fees
	 	 	46	 
	8.3 Pro Rata Treatment and Payments
	 	 	47	 
	8.4 Illegality
	 	 	48	 
	8.5 Requirements of Law
	 	 	48	 
	8.6 Taxes
	 	 	50	 
	8.7 Company’s Options upon Claims for Increased Costs and Taxes
	 	 	52	 
	8.8 Break Funding Payments
	 	 	53	 
	8.9 Determinations
	 	 	54	 
	8.10 Change of Lending Office
	 	 	54	 
	8.11 Company Controls on Exposure; Calculation of Exposure; Prepayment if
Exposure exceeds Revolving Commitments
	 	 	54	 
	8.12 Conversion and Continuation Options
	 	 	56	 
	8.13 Minimum Amounts of Tranches
	 	 	56	 
	8.14 Interest Rates and Payment Dates for Term Loans and Committed Rate Loans
	 	 	56	 
	8.15 Inability to Determine Interest Rate
	 	 	57	 
	8.16 Optional Prepayments
	 	 	57	 
	 
	 	 	 	 
	SECTION 9. REPRESENTATIONS AND WARRANTIES
	 	 	58	 
	9.1 Financial Condition
	 	 	58	 
	9.2 No Change
	 	 	58	 
	9.3 Corporate Existence; Compliance with Law
	 	 	58	 
	9.4 Corporate Power; Authorization; Enforceable Obligations
	 	 	59	 
	9.5 No Legal Bar
	 	 	59	 
	9.6 No Material Litigation
	 	 	59	 
	9.7 No Default
	 	 	59	 
	9.8 Ownership of Property; Liens
	 	 	60	 
	9.9 Intellectual Property
	 	 	60	 
	9.10 Local Currency Facilities
	 	 	60	 
	9.11 Taxes
	 	 	60	 
	9.12 Federal Regulations
	 	 	60	 
	9.13 ERISA
	 	 	61	 
	9.14 Investment Company Act; Other Regulations
	 	 	61	 
	9.15 Subsidiaries
	 	 	61	 

-ii-

 

	 	 	 	 	 
	 	 	Page
	9.16 Accuracy and Completeness of Information
	 	 	62	 
	9.17 Purpose of Loans; Commitments
	 	 	62	 
	9.18 Environmental Matters
	 	 	62	 
	 
	 	 	 	 
	SECTION 10. CONDITIONS PRECEDENT
	 	 	63	 
	10.1 Conditions to Closing Date
	 	 	63	 
	10.2 Conditions to Each Extension of Credit
	 	 	64	 
	 
	 	 	 	 
	SECTION 11. AFFIRMATIVE COVENANTS
	 	 	65	 
	11.1 Financial Statements
	 	 	66	 
	11.2 Certificates; Other Information
	 	 	67	 
	11.3 Payment of Obligations
	 	 	68	 
	11.4 Conduct of Business and Maintenance of Existence
	 	 	68	 
	11.5 Maintenance of Property; Insurance
	 	 	68	 
	11.6 Inspection of Property; Books and Records; Discussions
	 	 	68	 
	11.7 Notices
	 	 	69	 
	11.8 Environmental Laws
	 	 	69	 
	11.9 Additional Subsidiary Guarantees
	 	 	70	 
	11.10 Foreign Subsidiary Borrowers
	 	 	70	 
	 
	 	 	 	 
	SECTION 12. NEGATIVE COVENANTS
	 	 	70	 
	12.1 Financial Condition Covenants
	 	 	70	 
	12.2 Limitation on Indebtedness of Subsidiaries
	 	 	71	 
	12.3 Limitation on Liens
	 	 	71	 
	12.4 Limitation on Fundamental Changes
	 	 	73	 
	12.5 Limitations on Payments
	 	 	73	 
	12.6 Limitations on Acquisitions
	 	 	73	 
	12.7 Limitation on Negative Pledge Clauses
	 	 	74	 
	12.8 Limitation on Restrictions on Subsidiary Distributions
	 	 	74	 
	 
	 	 	 	 
	SECTION 13. EVENTS OF DEFAULT
	 	 	75	 
	 
	 	 	 	 
	SECTION 14. THE ADMINISTRATIVE AGENT; THE SYNDICATION AGENTS; THE
ARRANGER
	 	 	78	 
	14.1 Appointment
	 	 	78	 
	14.2 Delegation of Duties
	 	 	78	 
	14.3 Exculpatory Provisions
	 	 	78	 
	14.4 Reliance by Administrative Agent
	 	 	79	 
	14.5 Notice of Default
	 	 	79	 
	14.6 Non-Reliance on Administrative Agent and Other Banks
	 	 	79	 
	14.7 Indemnification
	 	 	80	 
	14.8 Administrative Agent in Its Individual Capacity
	 	 	80	 
	14.9 Successor Administrative Agent
	 	 	80	 
	14.10 The Arranger and Syndication Agents
	 	 	81	 
	 
	 	 	 	 
	SECTION 15. MISCELLANEOUS
	 	 	81	 
	15.1 Amendments and Waivers
	 	 	81	 

-iii-

 

	 	 	 	 	 
	 	 	Page
	15.2 Notices
	 	 	84	 
	15.3 No Waiver; Cumulative Remedies
	 	 	85	 
	15.4 Survival of Representations and Warranties
	 	 	85	 
	15.5 Payment of Expenses and Taxes
	 	 	86	 
	15.6 Successors and Assigns; Participations and Assignments
	 	 	87	 
	15.7 Adjustments; Set-off
	 	 	89	 
	15.8 Power of Attorney
	 	 	90	 
	15.9 Judgment
	 	 	90	 
	15.10 Counterparts
	 	 	91	 
	15.11 Severability
	 	 	91	 
	15.12 Integration
	 	 	91	 
	15.13 GOVERNING LAW
	 	 	91	 
	15.14 Submission To Jurisdiction; Waivers
	 	 	92	 
	15.15 Acknowledgements
	 	 	92	 
	15.16 WAIVERS OF JURY TRIAL
	 	 	93	 
	15.17 USA Patriot Act
	 	 	93	 

SCHEDULES

	 	 	 	 	 
	I

	 	-
	 	Banks and Commitments
	II

	 	-
	 	Subsidiary Borrowers
	III

	 	-
	 	Certain Information Concerning Swing Line

           Loans and Letters of Credit
	IV

	 	-
	 	Administrative Schedule
	1.1

	 	-
	 	Existing Joint Ventures
	5.1

	 	-
	 	Existing Letters of Credit
	9.10

	 	-
	 	Outstanding Local Currency Loans
	9.13

	 	-
	 	Excluded ERISA Arrangements
	9.18

	 	-
	 	Environmental Matters
	12.2

	 	-
	 	Existing Indebtedness
	13(i)

	 	-
	 	Material Litigation
	 
	EXHIBITS
	 	 	 	 
	 
	Exhibit A

	 	-
	 	Form of Joinder Agreement
	Exhibit B

	 	-
	 	Form of Schedule Amendment
	Exhibit C

	 	-
	 	Form of Local Currency Facility Addendum
	Exhibit D

	 	-
	 	[Reserved]
	Exhibit E

	 	-
	 	Form of Borrowing Certificate
	Exhibit F-1

	 	-
	 	Form of Company Guarantee
	Exhibit F-2

	 	-
	 	Form of Subsidiary Guarantee
	Exhibit G-1

	 	-
	 	Form of Opinion of Milbank, Tweed, Hadley & McCloy LLP

-iv-

 

	 	 	 	 	 
	Exhibit G-2

	 	-
	 	Form of Opinion of Peter S. Brown
	Exhibit G-3

	 	-
	 	Opinions Relating to Foreign Subsidiary Borrowers
	Exhibit H

	 	-
	 	Form of Certificate Pursuant to Subsection 11.2
	Exhibit I

	 	-
	 	Form of Assignment and Acceptance
	Exhibit J-1

	 	 	 	Form of Extension Request
	Exhibit J-2

	 	-
	 	Form of Continuation Notice
	Exhibit K

	 	-
	 	Form of New Bank Supplement
	Exhibit L

	 	-
	 	Form of Revolving Commitment Increase Supplement

-v-

 

          AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT, dated as of January 11, 2007, among:

     (i) ARROW ELECTRONICS, INC., a New York corporation (the “Company”);

     (ii) the SUBSIDIARY BORROWERS (as hereinafter defined);

     (iii) the several banks and other financial institutions from time to time
parties to this Agreement (the “Banks”);

     (iv) BANK OF AMERICA, N.A., THE BANK OF NOVA SCOTIA, BNP PARIBAS AND WACHOVIA
BANK NATIONAL ASSOCIATION, as syndication agents for the Banks hereunder (in such
capacity, the “Syndication Agents”); and

     (v) JPMORGAN CHASE BANK, N.A., as administrative agent for the Banks hereunder
(in such capacity, the “Administrative Agent”).

W I
T N E S S E T H :

          WHEREAS, the Company has requested the Banks to make available five-year revolving and term
credit facilities by amending and restating the Amended and Restated Credit Agreement, dated as of
June 13, 2005, among the Company, certain of its subsidiaries, certain financial institutions,
JPMorgan Chase Bank, N.A., as administrative agent, and others (as in effect on the date hereof,
the “Existing Credit Agreement”); and

          WHEREAS, the Banks are willing to make such credit facility available upon and subject to the
terms and conditions hereafter set forth;

          NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, the
parties hereto hereby agree that, effective as of the Closing Date (as defined below), the Existing
Credit Agreement shall be amended and restated in its entirety as follows:

SECTION 1. DEFINITIONS

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

     “ABR”: for any day, a rate per annum (rounded upwards, if necessary, to the
next 1/100 of 1%) equal to the greatest of (a) the Prime Rate in effect on such day, (b) the
Base CD Rate in effect on such day plus 1% and (c) the Federal Funds Effective Rate in
effect on such day plus 1/2 of 1%. For purposes hereof: “Prime Rate” shall mean the
rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank,

2007 Arrow Electronics Credit Agreement

 

2

N.A. as its prime rate in effect at its principal office in New York City (the Prime
Rate not being intended to be the lowest rate of interest charged by JPMorgan Chase Bank,
N.A. in connection with extensions of credit to debtors); “Base CD Rate” shall mean
the sum of (a) the product of (i) the Three-Month Secondary CD Rate and (ii) a fraction, the
numerator of which is one and the denominator of which is one minus the CD Reserve
Percentage and (b) the CD Assessment Rate; and “Three-Month Secondary CD Rate” shall
mean, for any day, the secondary market rate for three-month certificates of deposit
reported as being in effect on such day (or, if such day shall not be a Business Day, the
next preceding Business Day) by the Board through the public information telephone line of
the Federal Reserve Bank of New York (which rate will, under the current practices of the
Board, be published in Federal Reserve Statistical Release H.15(519) during the week
following such day), or, if such rate shall not be so reported on such day or such next
preceding Business Day, the average of the secondary market quotations for three-month
certificates of deposit of major money center banks in New York City received at
approximately 10:00 A.M., New York City time, on such day (or, if such day shall not be a
Business Day, on the next preceding Business Day) by JPMorgan Chase Bank, N.A. from three
New York City negotiable certificate of deposit dealers of recognized standing selected by
it. Any change in the ABR due to a change in the Prime Rate, the Three-Month Secondary CD
Rate or the Federal Funds Effective Rate shall be effective as of the opening of business on
the effective day of such change in the Prime Rate, the Three-Month Secondary CD Rate or the
Federal Funds Effective Rate, respectively.

     “ABR Loans”: Loans denominated in Dollars the rate of interest applicable to
which is based upon the ABR.

     “Acceleration Date”: any date on which the Commitments shall have been
terminated and/or the Loans shall have been declared immediately due and payable pursuant to
Section 13.

     “Additional Local Currencies”: Australian Dollars, Singapore Dollars, New
Taiwan Dollars and any other available and freely convertible non-Dollar currency selected
by the Company and approved by the Administrative Agent in the manner described in
subsection 15.1(b).

     “Adjusted Consolidated EBITDA”: for any fiscal period, without duplication (a)
the Consolidated Net Income of the Company and its Subsidiaries for such period, plus (b) to
the extent deducted from earnings in determining Consolidated Net Income for such period,
the sum, in each case for such period, of income taxes, interest expense, depreciation
expense, amortization expense, including amortization of any goodwill or other intangibles,
minus (c) to the extent included in determining Consolidated Net Income for such period,
non-cash equity earnings of unconsolidated Affiliates, plus (d) to the extent excluded in
determining Consolidated Net Income for such period, cash distributions received by the
Company from unconsolidated Affiliates plus (e) to the extent deducted from earnings in
determining Consolidated Net Income for such period, non-cash charges due to impairments
recorded in such period in accordance with Financial Accounting Standards Board’s Statement
of Financial Accounting Standards No. 142, all as determined on a consolidated basis in
accordance with GAAP plus (f)

2007 Arrow Electronics Credit Agreement

 

3

gains or losses related to the early extinguishment of notes, bonds or other fixed
income obligations plus (g) gains or losses due to integration or restructuring charges to
the extent disclosed in public filings; provided that in determining Adjusted
Consolidated EBITDA for any period of four consecutive fiscal quarters during which any
business is acquired by the Company, such Adjusted Consolidated EBITDA shall be measured on
a pro forma basis to include the consolidated EBITDA of the acquired business (determined
for such business in the manner Adjusted Consolidated EBITDA is determined for the Company,
as described above in this definition), plus identifiable, board-approved and publicly
announced acquisition-related synergies which are expected to be realized over a
twelve-month period following such acquisition.

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

     “Administrative Schedule”: Schedule IV to this Agreement, which contains
interest rate definitions and administrative information in respect of the Term Loans, each
Currency and each Type of Loan.

     “Affected Bank”: any Bank affected by the events described in subsection 8.4,
8.5 or 8.6, as the case may be, but only for the period during which such Bank shall be
affected by such events.

     “Affiliate”: as to any Person, (a) any other Person (other than a Subsidiary)
which, directly or indirectly, is in control of, is controlled by, or is under common
control with, such Person or (b) any Person who is a director or officer of the Company or
any of its Subsidiaries. For purposes of this definition, “control” of a Person means the
power, directly or indirectly, either to (i) vote 10% or more of the securities having
ordinary voting power for the election of directors of such Person or (ii) direct or cause
the direction of the management and policies of such Person, whether by contract or
otherwise.

     “Aggregate Revolving Committed Outstandings”: the aggregate outstanding
principal or face amount of the Committed Rate Loans, Swing Line Loans, Letters of Credit
and Local Currency Loans hereunder.

     “Agreement”: this Amended and Restated Five Year Credit Agreement, as amended,
supplemented or otherwise modified from time to time.

     “Allocable Share”: as to any Assenting Bank at any time, a fraction, the
numerator of which shall be the Commitment of such Assenting Bank then in effect and the
denominator of which shall be the aggregate of the Commitments of all Assenting Banks then
in effect.

     “Applicable Margin”: for each Type of Loan for any day, the rate per annum
determined based upon the Rating in effect on such date by both S&P and Moody’s set forth
under the relevant column heading below opposite such Rating:

2007 Arrow Electronics Credit Agreement

 

4

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Applicable Margin	 	Applicable Margin	 	 
	 	 	 	 	(in basis points)	 	(in basis points)	 	Applicable Margin
	 	 	Rating	 	for Committed Rate	 	for Eurocurrency	 	(in basis points)
	Level	 	(S&P/Moody’s)	 	Eurocurrency Loans	 	Term Loans	 	for ABR Loans
	I

	 	Greater than or
equal to
BBB+/Baa1
	 	 	27.0	 	 	 	40.0	 	 	 	0	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	II

	 	Greater than or
equal to BBB/Baa2
	 	 	35.0	 	 	 	50.0	 	 	 	0	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	III

	 	Greater than or
equal to BBB-/Baa3
	 	 	42.5	 	 	 	60.0	 	 	 	0	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	IV

	 	Greater than or
equal to BB+/Ba1
	 	 	50.0	 	 	 	70.0	 	 	 	0	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	V

	 	Less than

BB+/Ba1
	 	 	65.0	 	 	 	90.0	 	 	 	0	 

; provided that, in the event that the Ratings of S&P and Moody’s do not coincide,
(i) the Applicable Margin set forth above opposite (A) the higher of such Ratings if at
least one Rating is within Level I – III or (B) the lower of such Ratings if no Rating is
within Level I – III, will apply if the Ratings differ by only one level, (ii) the
Applicable Margin consistent with the Rating one level above the lower Rating will apply if
the Ratings differ by two or more levels, and (iii), if there is no Rating in effect, the
Applicable Margin will be based on the Rating of less than BB+/Ba1.

     “Application”: an application, in such form as the Issuing Bank may specify
from time to time, requesting the Issuing Bank to issue a Letter of Credit.

     “Arranger”: JPMorgan Securities Inc., as sole advisor, sole lead arranger and
sole bookrunner.

     “Arrow Note Documents”: the collective reference to the Indenture dated as of
January 15, 1997 between the Company and The Bank of New York (as successor to Bank of
Montreal Trust Company), as Trustee, all supplemental indentures in respect thereof, and all
notes issued thereunder and under any such supplemental indenture, as any such document may
be amended, restated, supplemented or otherwise modified and in effect from time to time.

     “Assenting Bank”: as defined in subsection 8.7(a).

     “Assignee”: as defined in subsection 15.6(c).

     “Assignment and Acceptance”: each Assignment and Acceptance, substantially in
the form of Exhibit I, executed and delivered pursuant to subsection 15.6(c).

2007 Arrow Electronics Credit Agreement

 

5

     “Available Foreign Currencies”: (i) with respect to Committed Rate Loans and
Swing Line Loans, Pounds Sterling, euro, Hong Kong Dollars and Swedish Kroner, and any other
currency agreed upon by the Company, the Administrative Agent and all of the Banks, (ii)
with respect to Competitive Advance Loans, any currency agreed upon by the Borrower of such
Competitive Advance Loan and the Bank that makes such Competitive Advance Loan and (iii)
with respect to Letters of Credit, Pounds Sterling and euro.

     “Banks”: as defined in the preamble hereto; provided, that unless the
context otherwise requires, each reference herein to the Banks shall be deemed to include
any Conduit Bank.

     “Board”: the Board of Governors of the Federal Reserve System or any
successor.

     “Borrowers”: the collective reference to the Company, the Subsidiary Borrowers
and the Local Currency Borrowers.

     “Borrowing Date”: any Business Day on which the Company or any Subsidiary
Borrower requests the Banks to make Loans hereunder.

     “Business”: as defined in subsection 9.18(b).

     “Business Day”: (a) when such term is used in respect of any amount
denominated or to be denominated in (i) any Available Foreign Currency, a London Banking Day
which is also a day other than a Saturday or Sunday on which banks are open for general
banking business in (x) the city which is the principal financial center of the country of
issuance of such Available Foreign Currency, (y) in the case of euros only, Frankfurt,
Germany (or such other principal financial center as the Administrative Agent may from time
to time nominate for this purpose) and (z) New York City and (ii) Dollars, a London Banking
Day which is also a day other than a Saturday or Sunday on which banks are open for general
banking business in New York City and (b) when such term is used for the purpose of
determining the date on which the Eurocurrency Rate is determined under this Agreement for
any Loan denominated in euro for any Interest Period therefor and for purposes of
determining the first and last day of any Interest Period, references in this Agreement to
Business Days shall be deemed to be references to Target Operating Days.

     “CD Assessment Rate”: for any day as applied to any ABR Loan, the annual
assessment rate in effect on such day that is payable by a member of the Bank Insurance Fund
maintained by the Federal Deposit Insurance Corporation (the “FDIC”) classified as
well-capitalized and within supervisory subgroup “B” (or a comparable successor assessment
risk classification) within the meaning of 12 C.F.R. § 327.4 (or any successor provision) to
the FDIC (or any successor) for the FDIC’s (or such successor’s) insuring time deposits at
offices of such institution in the United States.

     “CD Reserve Percentage”: for any day as applied to any ABR Loan, that
percentage (expressed as a decimal) which is in effect on such day, as prescribed by the
Board, for determining the maximum reserve requirement for a Depositary Institution (as

2007 Arrow Electronics Credit Agreement

 

6

defined in Regulation D of the Board as in effect from time to time) in respect of new
non-personal time deposits in Dollars having a maturity of 30 days or more.

     “Capital Lease Obligations”: with respect to any Person, 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, for the purposes of this Agreement, the amount of such obligations
at any time shall be the capitalized amount thereof at such time determined in accordance
with GAAP.

     “Capital Stock”: any and all shares, interests, participations or other
equivalents (however designated) of capital stock of a corporation, any and all equivalent
ownership interests in a Person (other than a corporation) and any and all warrants, options
or rights to purchase any of the foregoing.

     “Change in Control”: one or more of the following events:

     (a) less than a majority of the members of the Company’s board of directors
shall be persons who either (i) were serving as directors on the Closing Date or
(ii) were nominated as directors and approved by the vote of the majority of the
directors who are directors referred to in clause (i) above or this clause (ii); or

     (b) the stockholders of the Company shall approve any plan or proposal for the
liquidation or dissolution of the Company; or

     (c) a Person or group of Persons acting in concert (other than the direct or
indirect beneficial owners of the Capital Stock of the Company as of the Closing
Date) shall, as a result of a tender or exchange offer, open market purchases,
privately negotiated purchases or otherwise, have become the direct or indirect
beneficial owner (within the meaning of Rule 13d-3 under the Securities Exchange Act
of 1934, as amended from time to time) of securities of the Company representing 40%
or more of the combined voting power of the outstanding voting securities for the
election of directors or shall have the right to elect a majority of the board of
directors of the Company.

     “Closing Date”: the date on which the conditions precedent set forth in
subsection 10.1 shall be satisfied.

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

     “Commitment” as to any Bank, the sum of the Term Commitment and the Revolving
Commitment of such Bank.

     “Committed Exposure”: as to any Bank, the sum of (a) the aggregate Dollar
Equivalent Amount of the principal amount of all outstanding Committed Rate Loans and Local
Currency Loans made by such Bank or its Local Currency Bank affiliates, agencies

2007 Arrow Electronics Credit Agreement

 

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or branches plus (b) such Bank’s Revolving Commitment Percentage of the
aggregate Dollar Equivalent Amount of the principal or face amount of all outstanding Swing
Line Loans and L/C Obligations.

     “Committed Rate Loan”: as defined in subsection 2.1; a Committed Rate Loan
bearing interest based upon the ABR shall be a “Committed Rate ABR Loan”, and a
Committed Rate Loan bearing interest based upon a Eurocurrency Rate shall be a
“Committed Rate Eurocurrency Loan”.

     “Commonly Controlled Entity”: an entity, whether or not incorporated, which is
under common control with the Company within the meaning of Section 4001 of ERISA or is part
of a group which includes the Company and which is treated as a single employer under
Section 414 of the Code.

     “Company”: as defined in the preamble hereto.

     “Company Guarantee”: the Guarantee of the Company, substantially in the form
of Exhibit F-1, as amended, supplemented or otherwise modified from time to time.

     “Competitive Advance Loan”: as defined in subsection 3.1.

     “Competitive Advance Loan Offer”: with respect to any Competitive Advance Loan
Request in any Currency, an offer from a Bank in respect of such Competitive Advance Loan
Request, containing the information in respect of such Competitive Advance Loan Offer and
delivered to the Person, in the manner and by the time specified for a Competitive Advance
Loan Offer in respect of such Currency in the Administrative Schedule.

     “Competitive Advance Loan Request”: with respect to any Competitive Advance
Loan in any Currency, a request from the Specified Borrower in respect of such Loan,
containing the information in respect of such Competitive Advance Loan and delivered to the
Person, in the manner and by the time specified for a Competitive Advance Loan Request in
respect of such Currency in the Administrative Schedule.

     “Conduit Bank”: any special purpose corporation organized and administered by
any Bank for the purpose of making Loans and funding L/C Participant Obligations otherwise
required to be made or funded by such Bank and designated to the Administrative Agent and
the Borrower by such Bank in a written instrument; provided, that the designation by
any Bank of a Conduit Bank shall not relieve the designating Bank of any of its obligations
to fund a Loan or an L/C Participant Obligation under this Agreement if, for any reason, its
Conduit Bank fails to fund any such Loan or L/C Participant Obligation, and the designating
Bank (and not the Conduit Bank) shall have the sole right and responsibility to deliver all
consents and waivers required or requested under this Agreement with respect to its Conduit
Bank, and provided, further, that no Conduit Bank shall (a) be entitled to
receive any greater amount pursuant to Section 8.5, 8.6, 8.8, or 15.5 than the designating
Bank would have been entitled to receive in respect of the extensions of credit made by such
Conduit Bank or (b) be deemed to have any Commitment.

2007 Arrow Electronics Credit Agreement

 

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     “Continuation Notice”: as defined in Section 2.13(a).

     “Continuing Bank”: as defined in Section 2.13(a).

     “Consolidated Cash Interest Expense”: for any period, (a) the amount which
would, in conformity with GAAP, be set forth opposite the caption “interest expense” or any
like caption on a consolidated income statement of the Company and its Subsidiaries minus
(b) the amount of non-cash interest (including interest paid by the issuance of additional
securities) included in such amount; provided that in the case of any Permitted
Receivables Securitization, “Consolidated Cash Interest Expense” shall be adjusted to
include (without duplication) an amount equal to the interest (or other fees in the nature
of interest or discount) accrued and paid or payable in cash for such period by the special
purpose entity to the Receivable Financiers under such Permitted Receivables Securitization.

     “Consolidated Interest Coverage Ratio”: for any period, the ratio of (a)
Adjusted Consolidated EBITDA to (b) Consolidated Cash Interest Expense for such period.

     “Consolidated Leverage Ratio”: on any date, the ratio of (a) Consolidated
Total Debt on such date to (b) Adjusted Consolidated EBITDA for the period of four
consecutive fiscal quarters most recently ended on or prior to such date.

     “Consolidated Net Income”: for any fiscal period, the consolidated net income
(or loss) of the Company and its Subsidiaries after excluding all unusual, extraordinary and
non-recurring gains and after adding all unusual, extraordinary and non-recurring losses, in
all cases of the Company and its Subsidiaries determined on a consolidated basis during the
relevant period in accordance with GAAP.

     “Consolidated Total Debt”: at the date of determination thereof, (i) all
Indebtedness of the Company and its Subsidiaries (excluding Indebtedness of the Company
owing to any of its Subsidiaries or Indebtedness of any Subsidiary of the Company owing to
the Company or any other Subsidiary of the Company), as determined on a consolidated basis
in accordance with GAAP plus (ii) without duplication of amounts included in clause
(i) above, an amount equal to the aggregate unpaid amount of cash proceeds advanced by the
Receivables Financiers to the special purpose entity under any Permitted Receivables
Securitization at the date of determination.

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

     “Credit Documents”: this Agreement, the Applications, the Subsidiary
Guarantees, the Company Guarantee and the Local Currency Facilities.

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

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     “Default”: any of the events specified in Section 13, whether or not any
requirement for the giving of notice, the lapse of time, or both, or any other condition,
has been satisfied.

     “Disposition”: with respect to any Property, any sale, lease, sale and
leaseback, assignment, conveyance, transfer or other disposition thereof; and the terms
“Dispose” and “Disposed of” shall have correlative meanings.

     “Dollar Equivalent Amount”: with respect to (i) the amount of any Foreign
Currency on any date, the equivalent amount in Dollars of such amount of Foreign Currency,
as determined by the Administrative Agent using the Exchange Rate and (ii) any amount in
Dollars, such amount.

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

     “Domestic Subsidiary”: as to any Person, a Subsidiary of such Person organized
under the laws of a State of the United States or the District of Columbia.

     “Domestic Subsidiary Borrower”: each Subsidiary of the Company listed as a
Domestic Subsidiary Borrower in Schedule II as amended from time to time in accordance with
subsection 15.1(b)(i).

     “Environmental Laws”: any and all applicable foreign, Federal, state, local or
municipal laws, rules, orders, regulations, statutes, ordinances, codes, decrees,
requirements of any Governmental Authority or other Requirements of Law (including, without
limitation, common law) regulating, relating to or imposing liability or standards of
conduct concerning protection of human health or the environment, as now or may at any time
hereafter be in effect.

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

     “euro”: the single currency of participating member states of the European
Union.

     “Eurocurrency Loan”: any Loan bearing interest based upon a Eurocurrency Rate.

     “Eurocurrency Rate”: in respect of Dollars and each Available Foreign
Currency, the rate determined as the Eurocurrency Rate for Dollars or such Available Foreign
Currency in the manner set forth in the Administrative Schedule.

     “European Subsidiaries”: as of any date, any Subsidiary of the Company that is
domiciled in Europe.

     “Event of Default”: any of the events specified in Section 13,
provided that any requirement for the giving of notice, the lapse of time, or both,
or any other condition, has been satisfied.

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     “Exchange Rate”: with respect to any Foreign Currency on any date, the rate at
which such Foreign Currency may be exchanged into Dollars, as set forth on such date on page
3750 of the Telerate screen at or about 11:00 a.m. London time on such date. In the event
that such rate does not appear on page 3750 of the Telerate screen, the “Exchange Rate” with
respect to such Foreign Currency shall be determined by reference to such other publicly
available service for displaying exchange rates as may be agreed upon by the Administrative
Agent and the Company or, in the absence of such agreement, such “Exchange Rate” shall
instead be the Administrative Agent’s spot rate of exchange in the interbank market where
its foreign currency exchange operations in respect of such Foreign Currency are then being
conducted, at or about 10:00 a.m., local time, at such date for the purchase of Dollars with
such Foreign Currency, for delivery two Business Days later; provided, that if at
the time of any such determination, no such spot rate can reasonably be quoted, the
Administrative Agent may use any reasonable method as it deems applicable to determine such
rate, and such determination shall be conclusive absent manifest error (without prejudice to
the determination of the reasonableness of such method).

     “Existing Credit Agreement”: as defined in the recitals hereof.

     “Existing Joint Ventures”: the Persons specified on Schedule 1.1.

     “Existing Subsidiary Guarantee”: the Subsidiary Guarantee executed on February
22, 2001 by Support Net, Inc., an Indiana corporation, Gates/Arrow Distributing, Inc., a
Delaware corporation, and Mid Range Open Computing Alliance, Inc., a Delaware corporation,
as the same may be amended, supplemented or otherwise modified from time to time.

     “Exposure”: at any date, (a) as to all the Banks, the aggregate Dollar
Equivalent Amount of (i) the outstanding principal amount of all Revolving Loans then
outstanding and (ii) all L/C Obligations then outstanding, (b) as to any Bank, the aggregate
Dollar Equivalent Amount of (i) the outstanding principal amount of all Committed Rate
Loans, Local Currency Loans and Competitive Advance Loans made by such Bank or its Local
Bank affiliates, branches or agencies and (ii) such Bank’s Revolving Commitment Percentage
of the outstanding principal amount of all Swing Line Loans and L/C Obligations and (c) as
to any Borrower, the aggregate Dollar Equivalent Amount of the outstanding principal amount
of all Revolving Loans to such Borrower then outstanding.

     “Extensions of Credit”: the collective reference to the making of any Loans
(including, without limitation, participating in any Swing Line Loans) and the issuance of,
or participation in, any Letters of Credit but excluding the continuation or conversion of
any Loan pursuant to a Notice of Conversion or a Notice of Continuation.

     “Extension Request”: as defined in subsection 2.13(a).

     “Facility Fee Rate”: a rate per annum determined based upon the Rating in
effect on such date by both S&P and Moody’s set forth under the relevant column heading
below opposite such Rating:

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	 	 	Rating	 	Facility Fee Rate (in
	Level	 	(S&P/Moody’s)	 	basis points)
	I

	 	Greater than or equal to
BBB+/Baa1
	 	 	8.0	 
	 
	 	 	 	 	 	 
	II

	 	Greater than or equal to
BBB/Baa2
	 	 	10.0	 
	 
	 	 	 	 	 	 
	III

	 	Greater than or equal to
BBB-/Baa3
	 	 	12.5	 
	 
	 	 	 	 	 	 
	IV

	 	Greater than or equal to
BB+/Ba1
	 	 	15.0	 
	 
	 	 	 	 	 	 
	V

	 	Less than

BB+/Ba1
	 	 	20.0	 

; provided that, in the event that the Ratings of S&P and Moody’s do not
coincide, (i) the Facility Fee Rate set forth above opposite (A) the higher of such Ratings
if at least one Rating is within Level I – III or (B) the lower of such Ratings if no Rating
is within Level I – III, will apply if the Ratings differ by only one level, (ii) the
Facility Fee Rate consistent with the Rating one level above the lower Rating will apply if
the Ratings differ by two or more levels, and (iii), if there is no Rating in effect, the
Facility Fee Rate will be based on the Rating of less than BB+/Ba1.

     “Federal Funds Effective Rate”: for any day, the weighted average of the rates
on overnight federal funds transactions with members of the Federal Reserve System arranged
by federal funds brokers, as published 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 of the quotations for the day of such transactions received by
JPMorgan Chase Bank, N.A. from three federal funds brokers of recognized standing selected
by it.

     “Financing Lease”: any lease of property, real or personal, the obligations of
the lessee in respect of which are required in accordance with GAAP to be capitalized on a
balance sheet of the lessee.

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

     “Foreign Currency Commitment”: as to any Bank and any Available Foreign
Currency, the obligation of such Bank to make Committed Rate Loans hereunder denominated in
such Available Foreign Currency in an aggregate principal amount at any one time outstanding
not to exceed the amount set forth opposite such Bank’s name on Schedule I under the caption
“[Name of applicable Available Foreign Currency] Commitment Amount”, as such amount may be
changed from time to time in accordance with the provisions of this Agreement.

     “Foreign Currency Commitment Percentage”: as to any Bank and any Available
Foreign Currency at any time, the percentage which such Bank’s Foreign Currency Commitment
in such Available Foreign Currency then constitutes of the aggregate Foreign Currency
Commitments of all Banks in such Available Foreign Currency.

2007 Arrow Electronics Credit Agreement

 

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     “Foreign Currency Exposure”: at any date, the aggregate Dollar Equivalent
Amount of (a) the outstanding principal amount of all Loans then outstanding which are
denominated in a currency other than Dollars and (b) all L/C Obligations then outstanding
which are denominated in a currency other than Dollars.

     “Foreign Currency Exposure Sublimit”: at any date, (a) with respect to euros,
a Dollar Equivalent Amount equal to $300,000,000, (b) with respect to Pounds Sterling, a
Dollar Equivalent Amount equal to $200,000,000, (c) with respect to Hong Kong Dollars, a
Dollar Equivalent Amount equal to $100,000,000, and (d) with respect to Swedish Kroner, a
Dollar Equivalent Amount equal to $100,000,000.

     “Foreign Subsidiary”: any Subsidiary that is not a Domestic Subsidiary.

     “Foreign Subsidiary Borrower”: each Subsidiary of the Company listed as a
Foreign Subsidiary Borrower in Schedule II as amended from time to time in accordance with
subsection 15.1(b)(i); provided that with respect to any Subsidiary for which a
Foreign Subsidiary Opinion has not previously been delivered, if the aggregate Exposure of
such Subsidiary owing to all Banks exceeds $20,000,000 for a period of 30 consecutive days,
then, unless a Foreign Subsidiary Opinion is delivered within 30 days after the end of such
period, such Subsidiary shall cease to be a Foreign Subsidiary Borrower 30 days after the
end of such period with respect to all Exposure of such Subsidiary owing to the Banks in
excess of $20,000,000.

     “Foreign Subsidiary Opinion”: with respect to any Foreign Subsidiary Borrower,
a legal opinion of counsel to such Foreign Subsidiary Borrower addressed to the
Administrative Agent and the Banks concluding that such Foreign Subsidiary Borrower and the
Credit Documents to which it is a party substantially comply with the matters listed on
Exhibit G-3 hereto, with such deviations therefrom as the Administrative Agent shall consent
(such consent not to be unreasonably withheld).

     “Funding Office”: (i) for each Term Loan, Type of Committed Rate Loan and each
Currency, the Funding Office set forth in respect thereof in the Administrative Schedule and
(ii) for each Competitive Advance Loan, as agreed by the Borrower that borrows such
Competitive Advance Loan, the Bank that makes such Competitive Advance Loan and the
Administrative Agent.

     “Funding Time”: (i) for each Type of Committed Rate Loan and Term Loan, and
each Currency, the Funding Time set forth in respect thereof in the Administrative Schedule
and (ii) for each Competitive Advance Loan, as agreed by the Borrower that borrows such
Competitive Advance Loan, the Bank that makes such Competitive Advance Loan and the
Administrative Agent.

     “GAAP”: generally accepted accounting principles in the United States of
America in effect from time to time.

     “Governing Documents”: as to any Person, the certificate or articles of
incorporation and by-laws or other organizational or governing documents of such Person.

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

     “Guarantee Obligation”: as to any Person (the “guaranteeing person”),
any obligation of (a) the guaranteeing person or (b) another Person (including, without
limitation, any bank under any letter of credit) to induce the creation of which the
guaranteeing person has issued a reimbursement, counterindemnity or similar obligation, in
either case guaranteeing or in effect guaranteeing any Indebtedness, leases, dividends or
other obligations (the “primary obligations”) of any other third Person (the
“primary obligor”) in any manner, whether directly or indirectly, including, without
limitation, any obligation of the guaranteeing person, whether or not contingent, (i) to
purchase any such primary obligation or any property constituting direct or indirect
security therefor, (ii) to advance or supply funds (1) for the purchase or payment of any
such primary obligation or (2) to maintain working capital or equity capital of the primary
obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to
purchase property, securities or services primarily for the purpose of assuring the owner of
any such primary obligation of the ability of the primary obligor to make payment of such
primary obligation or (iv) otherwise to assure or hold harmless the owner of any such
primary obligation against loss in respect thereof; provided, however, that
the term Guarantee Obligation shall not include endorsements of instruments for deposit or
collection in the ordinary course of business. The amount of any Guarantee Obligation of
any guaranteeing person shall be deemed to be the lower of (a) an amount equal to the stated
or determinable amount of the primary obligation in respect of which such Guarantee
Obligation is made and (b) the maximum amount for which such guaranteeing person may be
liable pursuant to the terms of the instrument embodying such Guarantee Obligation, unless
such primary obligation and the maximum amount for which such guaranteeing person may be
liable are not stated or determinable, in which case the amount of such Guarantee Obligation
shall be such guaranteeing person’s maximum reasonably anticipated liability in respect
thereof as determined by the Company in good faith.

     “Guarantor”: the Company or any Subsidiary in its capacity as a party to the
Company Guarantee or a Subsidiary Guarantee, as the case may be.

     “Hedging Agreements”: (a) Interest Rate Agreements and (b) any swap, futures,
forward or option agreements or other agreements or arrangements designed to limit or
eliminate the risk and/or exposure of a Person to fluctuations in currency exchange rates.

     “Hedging Banks”: any Bank or any of its subsidiaries or affiliates which from
time to time enter into Hedging Agreements with the Company or any of its Subsidiaries.

     “Increasing Bank”: as defined in subsection 2.10(c).

     “Indebtedness”: of any Person at any date, without duplication, (a) the
principal amount of all indebtedness of such Person for borrowed money or for the deferred
purchase price of property or services (other than current trade liabilities incurred in the

2007 Arrow Electronics Credit Agreement

 

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ordinary course of business and payable in accordance with customary practices), (b)
the principal amount of any other indebtedness of such Person which is evidenced by a note,
bond, debenture or similar instrument, (c) the portion of all obligations of such Person
under Financing Leases which must be capitalized in accordance with GAAP, (d) the principal
or stated amount of all obligations of such Person in respect of letters of credit, banker’s
acceptances or similar obligations issued or created for the account of such Person, (e) all
liabilities arising under Hedging Agreements of such Person, (f) the principal or stated
amount of all Guarantee Obligations of such Person (other than guarantees by the Company or
any Subsidiary in respect of current trade liabilities of the Company or any Subsidiary
incurred in the ordinary course of business and payable in accordance with customary terms),
and (g) the principal amount of all liabilities secured by any Lien on any property owned by
such Person even though such Person has not assumed or otherwise become liable for the
payment thereof.

     “Insolvency”: with respect to any Multiemployer Plan, the condition that such
Plan is insolvent within the meaning of Section 4245 of ERISA.

     “Insolvent”: pertaining to a condition of Insolvency.

     “Interest Payment Date”: (a) as to any ABR Loan, the last day of each March,
June, September and December and on the Term Loan Termination Date or Revolving Termination
Date, as applicable, (b) as to any Term Loan or Committed Rate Loan that is a Eurocurrency
Loan having an Interest Period of three months or less, the last day of such Interest
Period, (c) as to any Term Loan or Committed Rate Loan that is a Eurocurrency Loan having an
Interest Period longer than three months, each day which is three months after the first day
of such Interest Period and the last day of such Interest Period, (d) as to any Swing Line
Loan, the last Business Day of each calendar month during which such Swing Line Loan is
outstanding, and (e) as to any Competitive Advance Loan, the date or dates set forth in the
applicable Competitive Advance Loan Request or otherwise agreed upon by the relevant
Borrower and Bank at the time the terms of such Competitive Advance Loan are determined as
provided in subsection 3.2.

     “Interest Period”: with respect to any Term Loan or Committed Rate Loan that
is a Eurocurrency Loan:

     (i) initially, the period commencing on the borrowing or conversion date, as
the case may be, with respect to such Eurocurrency Loan and ending one, two, three
or six months thereafter, as selected by the relevant Borrower in its Notice of
Borrowing or Notice of Conversion, as the case may be, given with respect thereto;
and

     (ii) thereafter, each period commencing on the last day of the next preceding
Interest Period applicable to such Eurocurrency Loan and ending one, two, three or
six months thereafter, as selected by the relevant Borrower by a Notice of
Continuation with respect thereto;

2007 Arrow Electronics Credit Agreement

 

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

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

     (2) any Interest Period that would otherwise extend beyond the relevant
Termination Date shall end on such Termination Date; and

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

     “Interest Rate Agreement”: any interest rate protection agreement, interest
rate future, interest rate option, interest rate swap, interest rate cap or other interest
rate hedge or arrangement under which the Company is a party or a beneficiary.

     “Issuing Bank”: in respect of any Currency, each Bank listed as an Issuing
Bank in Schedule III in respect of such Currency.

     “Issuing Office”: in respect of each Issuing Bank, the Issuing Office set
forth for such Issuing Bank in Schedule III.

     “Joinder Agreement”: each Joinder Agreement, substantially in the form of
Exhibit A, from time to time executed and delivered hereunder pursuant to subsection 15.1
(b).

     “L/C Commitment”: the Dollar Equivalent Amount of $100,000,000.

     “L/C Obligations”: at any time, an amount equal to the sum of the Dollar
Equivalent Amount of (a) the aggregate then undrawn and unexpired amount of the then
outstanding Letters of Credit and (b) the aggregate amount of drawings under Letters of
Credit which have not then been reimbursed pursuant to subsection 5.5(a).

     “L/C Participant”: in respect of each Letter of Credit, each Bank (other than
the Issuing Bank in respect of such Letter of Credit) in its capacity as the holder of a
participating interest in such Letter of Credit.

     “Letters of Credit”: as defined in subsection 5.1(b).

     “Lien”: any mortgage, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or other), charge or other security interest or any preference,
priority or other security agreement or preferential arrangement of any kind or nature
whatsoever (including, without limitation, any conditional sale or other title retention

2007 Arrow Electronics Credit Agreement

 

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agreement and any Financing Lease having substantially the same economic effect as any
of the foregoing).

     “Liquidity”: the sum of (a) cash and cash equivalents and short-term
investments convertible into cash within sixty (60) days held by the Company and its
Subsidiaries, plus (b) so long as the Company is able to satisfy the conditions to borrowing
set forth in subsection 10.2 (including, but not limited to, compliance with the financial
covenants pursuant to Section 12.1), the aggregate amount of Undrawn Commitments, plus (c)
any amount then available to the Company or its Subsidiaries under any Permitted Receivables
Securitization or other legally committed credit facilities (provided that, in the
case of this clause (c), the Company or the applicable Subsidiary is able to satisfy all
conditions to the availability of such financing).

     “Loan”: any Term Loan or Revolving Loan.

     “Loan Parties”: the Company and each Subsidiary of the Company which is a
party to a Credit Document.

     “Local Currency Bank”: any Bank (or, if applicable, any affiliate, branch or
agency thereof) party to a Local Currency Facility.

     “Local Currency Bank Maximum Borrowing Amount”: as defined in subsection
6.1(b).

     “Local Currency Borrower”: each Subsidiary of the Company organized under the
laws of a jurisdiction outside the United States that the Company designates as a “Local
Currency Borrower” in a Local Currency Facility Addendum.

     “Local Currency Facility”: any Qualified Credit Facility that the Company
designates as a “Local Currency Facility” pursuant to a Local Currency Facility Addendum or
that is set forth on Schedule 9.10.

     “Local Currency Facility Addendum”: a Local Currency Facility Addendum
received by the Administrative Agent, substantially in the form of Exhibit C and conforming
to the requirements of Section 6.

     “Local Currency Facility Agent”: with respect to each Local Currency Facility,
the Local Currency Bank acting as agent for the Local Currency Banks party thereto.

     “Local Currency Facility Maximum Borrowing Amount”: as defined in subsection
6.1(b).

     “Local Currency Loan”: any loan made pursuant to a Local Currency Facility.

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

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     “Material Adverse Effect”: a material adverse effect on (a) the business,
operations, property, condition (financial or otherwise) or prospects of the Company and its
Subsidiaries taken as a whole, (b) the ability of the Company to perform its obligations
under this Agreement or other Credit Documents or (c) the validity or enforceability of this
Agreement or any of the other Credit Documents or the rights or remedies of the
Administrative Agent or the Banks hereunder or thereunder.

     “Materials of Environmental Concern”: any gasoline or petroleum (including
crude oil or any fraction thereof) or petroleum products or any hazardous or toxic
substances, materials or wastes, defined or regulated as such in or under any Environmental
Law, including, without limitation, asbestos, polychlorinated biphenyls and
urea-formaldehyde insulation.

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

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

     “New Bank”: as defined in subsection 2.10(b).

     “New Bank Supplement”: as defined in subsection 2.10(b).

     “Non-Excluded Taxes”: as defined in subsection 8.6.

     “Non-Extending Bank”: as defined in Section 2.13(a).

     “Notice of Borrowing”: with respect to a Term Loan or Committed Rate Loan of
any Type in any Currency, a notice from the Specified Borrower in respect of such Loan,
containing the information in respect of such Loan and delivered to the Person, in the
manner and by the time specified for a Notice of Borrowing in respect of such Currency and
such Type of Loan in the Administrative Schedule.

     “Notice of Continuation”: with respect to a Term Loan Eurocurrency Loan or
Committed Rate Eurocurrency Loan in any Currency, a notice from the Specified Borrower in
respect of such Loan, containing the information in respect of such Loan and delivered to
the Person, in the manner and by the time specified for a Notice of Continuation in respect
of such Currency in the Administrative Schedule.

     “Notice of Conversion”: with respect to a Term Loan or Committed Rate Loan in
Dollars which a Specified Borrower wishes to convert from a Eurocurrency Loan to an ABR
Loan, or from an ABR Loan to a Eurocurrency Loan, as the case may be, a notice from such
Borrower setting forth the amount of such Loan to be converted, the date of such conversion
and, in the case of conversions of ABR Loans to Eurocurrency Loans, the length of the
initial Interest Period applicable thereto. Each Notice of Conversion shall be delivered to
the Administrative Agent at its address set forth in subsection 15.2 and shall be delivered
before 12:00 Noon, New York City time, on the Business Day of the requested conversion in
the case of conversions to ABR Loans, and before 12:00

2007 Arrow Electronics Credit Agreement

 

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Noon, New York City time, three Business Days before the requested conversion in the
case of conversions to Eurocurrency Loans.

     “Notice of Local Currency Outstandings”: with respect to each Local Currency
Facility Agent, a notice from such Local Currency Facility Agent containing the information,
delivered to the Person, in the manner and by the time, specified for a Notice of Local
Currency Outstandings in the Administrative Schedule.

     “Notice of Prepayment”: with respect to prepayment of any Term Loan or
Committed Rate Loan of any Type in any Currency, a notice from the Specified Borrower in
respect of such Loan, containing the information in respect of such prepayment and delivered
to the Person, in the manner and by the time specified for a Notice of Prepayment in respect
of such Term Loan, Currency and such Type of Loan in the Administrative Schedule.

     “Notice of Swing Line Borrowing”: with respect to a Swing Line Loan of any
Type in any Currency, a notice from the Specified Borrower in respect of such Loan,
containing the information in respect of such Swing Line Loan and delivered to the Person,
in the manner and by the time agreed by the Company and the applicable Swing Line Bank in
respect of such Currency and such Type of Loan.

     “Notice of Swing Line Outstandings”: with respect to each Swing Line Bank, a
notice from such Swing Line Bank containing the information, delivered to the Person, in the
manner and by the time, specified for a Notice of Swing Line Outstandings in the
Administrative Schedule.

     “Notice of Swing Line Refunding”: with respect to each Swing Line Bank, a
notice from such Swing Line Bank containing the information, delivered to the Person, in the
manner and by the time, specified for a Notice of Swing Line Refunding in the Administrative
Schedule.

     “Objecting Bank”: as defined in subsection 15.1(e).

     “Offered Increase Amount”: as defined in subsection 2.10(a).

     “Participant”: as defined in subsection 15.6(b).

     “Payment Office”: (i) for each Term Loan, Type of Committed Rate Loan and each
Currency, the Payment Office set forth in respect thereof in the Administrative Schedule and
(ii) for each Competitive Advance Loan, as agreed by the Borrower that borrows such
Competitive Advance Loan, the Bank that makes such Competitive Advance Loan and the
Administrative Agent.

     “Payment Time”: for each Term Loan, Type of Committed Rate Loan and each
Currency, the Payment Time set forth in respect thereof in the Administrative Schedule and
(ii) for each Competitive Advance Loan, as agreed by the Borrower that borrows such
Competitive Advance Loan, the Bank that makes such Competitive Advance Loan and the
Administrative Agent.

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     “PBGC”: the Pension Benefit Guaranty Corporation established pursuant to
Subtitle A of Title IV of ERISA.

     “Permitted Acquisition”: on any date of determination, the acquisition of all
or part of any Person or business unit in any transaction or series of transactions by the
Company or any Subsidiary.

     “Permitted Joint Venture”: on any date of determination, a limited-purpose
corporation, partnership, limited liability company, joint venture or other similar legal
arrangement (whether created by contract or conducted through a separate legal entity, but
excluding any Subsidiary) now or hereafter formed or invested in by the Company or any of
its Subsidiaries with another Person or Persons in order to conduct a common venture or
enterprise with such Person or Persons.

     “Permitted Receivables Securitization”: any transaction involving one or more
sales, contributions or other conveyances by the Company or any Subsidiary of any
Receivables to a special purpose entity (which may be a Subsidiary or Affiliate of the
Company), which special purpose entity finances such sales, contributions or other
conveyances by in turn conveying an interest in such Receivables to one or more Receivable
Financiers, provided that such transaction shall not involve any recourse to the
Company or any Subsidiary (other than such special purpose entity) for any reason other than
(i) repurchases of non-eligible Receivables, (ii) indemnification for losses (including any
adjustments for dilutions), other than credit losses related to the Receivables conveyed in
such transaction and (iii) payment of costs, fees, expenses and indemnities relating to such
transaction.

     “Permitted Receivables Agreement”: the Transfer and Administration Agreement,
dated as of March 21, 2001, by and among the Company, Arrow Electronics Funding Corporation,
Bank of America, National Association, as the administrative agent for the conduit investors
and the alternate investors, and the other parties party thereto, as the same may have been
amended prior to and as in effect on the Closing Date.

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

     “Plan”: at a particular time, any employee benefit plan which is covered by
ERISA and in respect of which the Company or a Commonly Controlled Entity is (or, if such
plan were terminated at such time, would under Section 4069 of ERISA be deemed to be) an
“employer” as defined in Section 3(5) of ERISA.

     “Pounds”, “Pounds Sterling” and “Sterling”: the lawful
currency of the United Kingdom.

     “Properties”: as defined in subsection 9.18(a).

     “Qualified Credit Facility”: a credit facility (a) providing for one or more
Local Currency Banks to make loans denominated in an Additional Local Currency to a Local

2007 Arrow Electronics Credit Agreement

 

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Currency Borrower, (b) providing for such loans to bear interest at a rate or rates
determined by the Company and such Local Currency Bank or Local Currency Banks and (c)
otherwise conforming to the requirements of Section 6.

     “Ratings”: the actual or implied senior unsecured non-credit enhanced debt
ratings of the Company in effect from time to time by Moody’s or S&P, as the case may be,
the bank debt rating of the Company in effect from time to time by Moody’s or the corporate
credit rating of the Company in effect from time to time by S&P.

     “Re-Allocation Date”: as defined in subsection 2.10(e).

     “Receivables”: all accounts receivable of the Company or any of its
Subsidiaries, and all proceeds thereof and rights (contractual and other) and collateral
related thereto.

     “Receivable Financier”: any Person (other than a Subsidiary or Affiliate of
the Company) that finances the acquisition by a special purpose entity of Receivables from
the Company or any Subsidiary.

     “Register”: as defined in subsection 15.6(d).

     “Regulation U”: Regulation U of the Board as in effect from time to time.

     “Reimbursement Obligation”: in respect of each Letter of Credit, the
obligation of the account party thereunder to reimburse the Issuing Bank for all drawings
made thereunder in accordance with Section 5 and the Application related to such Letter of
Credit.

     “Reorganization”: with respect to any Multiemployer Plan, the condition that
such plan is in reorganization within the meaning of Section 4241 of ERISA.

     “Replacement Bank”: a bank or financial institution that assumes certain
Commitments and obligations and purchases certain Loans and rights pursuant to subsection
8.7(b) or 15.1(e).

     “Reportable Event”: any of the events set forth in Section 4043(c) of ERISA,
other than those events as to which the thirty day notice period is waived under subsections
..13, .14, .16, .18, .19 or .20 of PBGC Reg. § 2615.

     “Required Banks”: at any time, Banks holding more than 50% of the aggregate
amount of the Term Loans and Revolving Commitments (or, at any time after the Revolving
Commitments shall have expired or terminated, Banks holding more than 50% of the aggregate
amount of the Term Loans and the Exposure of all Banks at such time).

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

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     “Responsible Officer”: as to any Person, the chief executive officer, the
chairman of the board, the president, the chief financial officer, the chief accounting
officer, any executive or senior vice president or the treasurer of such Person.

     “Restricted Payments”: as defined in subsection 12.5.

     “Revolving Borrowing Percentage”: (a) with respect to Committed Rate Loans
denominated in Dollars to be made by any Bank at any time, the ratio (expressed as a
percentage) of the amount of such Bank’s Undrawn Commitment at such time to the aggregate
amount of the Undrawn Commitments of all the Banks at such time; provided, that in
determining any Bank’s Undrawn Commitment for purpose of determining such Bank’s Revolving
Borrowing Percentage of any such Committed Rate Loans whose proceeds will be simultaneously
applied to repay Swing Line Loans or Local Currency Loans or to pay Reimbursement
Obligations, such Bank’s Revolving Commitment Percentage of the amount of such Swing Line
Loans and Reimbursement Obligations, and the amount of such Local Currency Loans owing to
such Bank, will not be considered Committed Exposure of such Bank (such Revolving Borrowing
Percentage of each Bank at any time to be calculated by the Administrative Agent on the
basis of its most recent calculations of the Undrawn Commitments of the Banks) and (b) with
respect to Committed Rate Loans denominated in any Available Foreign Currency to be made by
any Bank at any time, a percentage equal to such Bank’s Foreign Currency Commitment
Percentage in the Currency of such Committed Rate Loans.

     “Revolving Commitment”: as to any Bank, the obligation of such Bank to make
and/or acquire participating interests in Committed Rate Loans or Swing Line Loans hereunder
and/or under Local Currency Facilities and issue and/or acquire participating interests in
Letters of Credit hereunder in an aggregate Dollar Equivalent Amount at any one time
outstanding not to exceed the amount set forth opposite such Bank’s name on Schedule I under
the caption “Dollar Revolving Commitment Amount”, as such amount may be changed from time to
time in accordance with the provisions of this Agreement.

     “Revolving Commitment Increase Notice”: as defined in subsection 2.10(a).

     “Revolving Commitment Increase Supplement”: as defined in subsection 2.10(c).

     “Revolving Commitment Percentage”: as to any Bank at any time, the percentage
which such Bank’s Revolving Commitment then constitutes of the aggregate amount of the
Revolving Commitments (or, at any time after the Revolving Commitments shall have expired or
terminated, the percentage which the amount of such Exposure with at such time constitutes
of the aggregate amount of the Exposure with of all the Banks at such time).

     “Revolving Commitment Period”: the period from and including the Closing Date
to and including the earlier of (i) the Revolving Termination Date and, (ii) such other date
on which the Revolving Commitments shall terminate as provided herein.

     “Revolving Loans”: any Committed Rate Loan, Competitive Advance Loan, Swing
Line Loan or Local Currency Loan.

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     “Revolving Termination Date”: January 11, 2012, as such date may be extended
pursuant to Section 2.13 hereof.

     “S&P”: Standard & Poor’s Ratings Group.

     “Schedule Amendment”: each Schedule Amendment, substantially in the form of
Exhibit B, executed and delivered pursuant to subsection 15.1.

     “Single Employer Plan”: any Plan which is covered by Title IV of ERISA, but
which is not a Multiemployer Plan.

     “Specified Borrower”: the collective reference to the Company and the
Subsidiary Borrowers.

     “Subsidiary”: as to any Person, a corporation, partnership or other entity of
which shares of stock or other ownership interests having ordinary voting power (other than
stock or such other ownership interests having such power only by reason of the happening of
a contingency) to elect a majority of the board of directors or other managers of such
corporation, partnership or other entity are at the time owned, or the management of which
is otherwise controlled, directly or indirectly through one or more intermediaries, or both,
by such Person. Unless otherwise qualified, all references to a “Subsidiary” or to
“Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of the Company.

     “Subsidiary Borrower”: the collective reference to the Foreign Subsidiary
Borrowers and the Domestic Subsidiary Borrowers.

     “Subsidiary Guarantee”: each of (a) the Existing Subsidiary Guarantee and (b)
each other Subsidiary Guarantee, substantially in the form of Exhibit F-2, to be executed
and delivered from time to time by any other Domestic Subsidiary pursuant to subsection
11.9, in each case, as the same may be amended, supplemented or otherwise modified from time
to time.

     “Swing Line Bank”: in respect of any Specified Borrower and any Currency, each
Bank listed as a Swing Line Bank in respect of such Specified Borrower and Currency in
Schedule III.

     “Swing Line Currency”: in respect of any Specified Borrower, the Currency set
forth for such Specified Borrower in Schedule III.

     “Swing Line Limit”: in respect of any Specified Borrower, the amount listed as
the Swing Line Limit in respect of such Specified Borrower in Schedule III, but not in any
case for all Specified Borrowers to exceed a Dollar Equivalent Amount equal to $200,000,000.

     “Swing Line Loan”: as defined in subsection 4.1.

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     “Swing Line Rate”: in respect of each Swing Line Currency for each Swing Line
Bank, the interest rate agreed from time to time between the Company and such Swing Line
Bank.

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

     “Term Bank”: as defined in subsection 7.1.

     “Term Commitment”: as to any Bank, the obligation of such Bank, if any, to make a
Term Loan to the Borrower in a principal amount not to exceed the amount set forth under the
heading “Term Commitment” opposite such Bank’s name on Schedule I. The original aggregate amount
of the Term Commitments is $200,000,000.

     “Term Loans”: as defined in subsection 7.1.

     “Term Loan Termination Date”: January 11, 2012.

     “Term Percentage”: as to any Term Bank at any time, the percentage which such
Term Bank’s Term Commitment then constitutes of the aggregate Term Commitments (or, at any
time after the Closing Date, the percentage which the aggregate principal amount of such
Bank’s Term Loans then outstanding constitutes of the aggregate principal amount of the Term
Loans then outstanding).

     “Termination Date”. the Revolving Termination Date or Term Loan Termination
Date, as applicable.

     “Total Assets”: at a particular date, the assets of the Company and its
Subsidiaries, determined on a consolidated basis in accordance with GAAP.

     “Total Revolving Commitments”: at any time, the aggregate amount of the
Revolving Commitments then in effect.

     “Tranche”: the collective reference to Eurocurrency Loans of the same Type in
any Currency the then current Interest Periods with respect to all of which begin on the
same date and end on the same later date (whether or not such Loans shall originally have
been made on the same day).

     “Transferee”: as defined in subsection 15.6(f).

     “Type”: in respect of any Loan, its character as a Term Loan, Committed Rate
Loan, Competitive Advance Loan or Swing Line Loan, as the case may be.

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

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     “Undrawn Commitment”: as to any Bank at any time, the amount of such Bank’s
Revolving Commitment minus the amount of such Bank’s Committed Exposure at such time
but not less than zero.

     “Uniform Customs”: the Uniform Customs and Practice for Documentary Credits
(1993 Revision), International Chamber of Commerce Publication No. 500 as the same may be
amended from time to time.

          1.2 Other Definitional Provisions.

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

          (b) As used herein and in any certificate or other document made or delivered pursuant
hereto, accounting terms relating to the Company and its Subsidiaries not defined in subsection 1.1
and accounting terms partly defined in subsection 1.1, to the extent not defined, shall have the
respective meanings given to them under GAAP.

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

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

          (e) The phrases “to the knowledge of the Company” and “of which any Subsidiary is aware” and
phrases of similar import when used in this Agreement shall mean to the actual knowledge of a
Responsible Officer of the Company or any such Subsidiary, as the case may be.

          1.3 Accounting Determinations. Unless otherwise specified herein, all accounting
determinations for purposes of calculating or determining compliance with the terms found in
subsection 1.1 or the standards and covenants found in subsection 12.1 and otherwise to be made
under this Agreement shall be made in accordance with GAAP applied on a basis consistent in all
material respects with that used in preparing the financial statements referred to in subsection
9.1. If GAAP shall change from the basis used in preparing such financial statements, the
certificates required to be delivered pursuant to subsection 11.2 demonstrating compliance with the
covenants contained herein shall set forth calculations setting forth the adjustments necessary to
demonstrate how the Company is in compliance with the financial covenants based upon GAAP as in
effect on the Closing Date.

SECTION 2. THE COMMITTED RATE LOANS

          2.1 Committed Rate Loans.

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          (a) Subject to the terms and conditions hereof, each Bank severally agrees to make loans on a
revolving credit basis (“Committed Rate Loans”) to any Specified Borrower from time to time
during the Revolving Commitment Period; provided, that no Committed Rate Loan shall be made
by any Bank if, after giving effect to the making of such Loan and the simultaneous application of
the proceeds thereof, (i) the aggregate amount of the Exposure of all the Banks would exceed the
aggregate amount of the Revolving Commitments, (ii) the aggregate amount of the Foreign Currency
Exposure in respect of any Currency would exceed the Foreign Currency Exposure Sublimit for such
Currency (iii) in the case of Committed Rate Loans denominated in an Available Foreign Currency,
the aggregate principal amount of Committed Rate Loans outstanding to a Bank in such Currency would
exceed the Foreign Currency Commitment of such Bank in such Currency or (iv) the aggregate amount
of the Exposure of a Bank would exceed the Revolving Commitment of such Bank. During the Revolving
Commitment Period, the Specified Borrowers may use the Revolving Commitments by borrowing,
prepaying the Committed Rate Loans in whole or in part, and reborrowing, all in accordance with the
terms and conditions hereof.

          (b) The Committed Rate Loans may be made in Dollars or any Available Foreign Currency and may
from time to time be (i) Committed Rate Eurocurrency Loans, (ii) in the case of Committed Rate
Loans in Dollars only, Committed Rate ABR Loans or (iii) a combination thereof, as determined by
the relevant Specified Borrower and set forth in the Notice of Borrowing or Notice of Conversion
with respect thereto; provided, that no Committed Rate Eurocurrency Loan shall be made
after the day that is one month prior to the Revolving Termination Date.

          2.2 Procedure for Committed Rate Loan Borrowing. Any Specified Borrower may request
the Banks to make Committed Rate Loans on any Business Day during the Revolving Commitment Period
by delivering a Notice of Borrowing. Each borrowing of Committed Rate Loans (other than pursuant
to a Swing Line refunding pursuant to subsection 4.4, pursuant to subsection 5.5(c) or pursuant to
subsection 6.3) shall be in an amount equal to (a) in the case of Committed Rate ABR Loans,
$1,000,000 or a whole multiple of $500,000 in excess thereof (or, if the then aggregate undrawn
amount of the Revolving Commitments is less than $1,000,000, such lesser amount) and (b) in the
case of Committed Rate Eurocurrency Loans, (i) if in Dollars, $5,000,000 or increments of $500,000
thereafter, and (ii) if in any Available Foreign Currency, an amount in such Available Foreign
Currency of which the Dollar Equivalent Amount is at least $5,000,000; provided, that any
borrowing of Committed Rate Loans may be in an aggregate amount that is equal to the entire unused
balance of the Total Revolving Commitment. Upon receipt of any such Notice of Borrowing from a
Specified Borrower, the Administrative Agent shall promptly notify each Bank that has a Revolving
Commitment in the relevant Currency of receipt of such Notice of Borrowing and of such Bank’s
Revolving Borrowing Percentage of the Committed Rate Loans
to be made pursuant thereto. Subject to the terms and conditions hereof, each Bank that has a
Revolving Commitment in the relevant Currency will make its Revolving Borrowing Percentage of each
such borrowing available to the Administrative Agent for the account of such Specified Borrower at
the Funding Office, and at or prior to the Funding Time, for the Currency of such Loan in funds
immediately available to the Administrative Agent in the applicable Currency. The amounts made
available by each Bank will then be made available to such Specified Borrower at the Funding
Office, in like funds as received by the Administrative Agent.

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          2.3 Repayment of Committed Rate Loans; Evidence of Debt.

          (a) Each Specified Borrower hereby unconditionally promises to pay to the Administrative
Agent for the account of each Bank on the Revolving Termination Date (or such earlier date on which
the Loans become due and payable pursuant to Section 13), the then unpaid principal amount of each
Committed Rate Loan made by such Bank to such Specified Borrower. Each Specified Borrower hereby
further agrees to pay to the Administrative Agent for the account of each Bank, interest on the
unpaid principal amount of the Committed Rate Loans made to such Specified Borrower from time to
time outstanding from the date hereof until payment in full thereof at the rates per annum, and on
the dates, set forth in subsection 8.13.

          (b) Each Bank shall maintain in accordance with its usual practice an account or accounts
evidencing indebtedness of each Specified Borrower to such Bank resulting from each Committed Rate
Loan of such Bank from time to time, including the amounts of principal and interest payable and
paid to such Bank from time to time under this Agreement.

          (c) The Administrative Agent shall maintain the Register pursuant to subsection 15.6(d), and
a subaccount therein for each Bank, in which shall be recorded (i) the amount of each Committed
Rate Loan made hereunder and each Interest Period (if any) applicable thereto, (ii) the amount of
any principal or interest due and payable or to become due and payable from each Specified Borrower
to each Bank under Committed Rate Loans and (iii) the amount of any sum received by the
Administrative Agent from each Specified Borrower in respect of Committed Rate Loans, and the
amount of each Bank’s share thereof.

          (d) The entries made in the Register and the accounts of each Bank maintained pursuant to
subsection 2.3(b) shall, to the extent permitted by applicable law, be prima facie
evidence of the existence and amounts of the obligations of each Specified Borrower therein
recorded; provided, however, that the failure of any Bank or the Administrative
Agent to maintain the Register or any such account, or any error therein, shall not in any manner
affect the obligation of each Specified Borrower to repay (with applicable interest) the Committed
Rate Loans made to such Specified Borrower by such Bank in accordance with the terms of this
Agreement.

          2.4 Termination or Reduction of Commitments. The Company shall have the right, upon
not less than five Business Days’ notice to the Administrative Agent, to terminate the Revolving
Commitments or, from time to time, to reduce the amount of the Revolving Commitments. Any such
reduction shall be in an
amount equal to $5,000,000 or a whole multiple thereof and shall reduce permanently the
Revolving Commitments then in effect; provided that the Revolving Commitments may not be
optionally reduced at any time to an amount which is less than the amount of the Exposure of all
the Banks at such time; and provided further that the Revolving Commitments may not
be reduced to an amount which is less than $50,000,000 unless they are terminated in full.

          2.5 [reserved].

          2.6 [reserved].

          2.7 [reserved].

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          2.8 [reserved].

          2.9 [reserved].

          2.10 Commitment Increases. (a) At any time after the Closing Date, provided that no
Event of Default shall have occurred and be continuing, the Borrowers may request an increase of
the aggregate Revolving Commitments in an aggregate amount up to $200,000,000 by notice to the
Administrative Agent in writing of the amount (the “Offered Increase Amount”) of such
proposed increase (such notice, a “Revolving Commitment Increase Notice”). Any such
Revolving Commitment Increase Notice must offer each Bank the opportunity to subscribe for its pro
rata share of the increased Revolving Commitments; provided, however, the Borrowers may, with the
consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed),
without offering to each Bank the opportunity to subscribe for its pro rata share of the increased
Revolving Commitments, offer to any bank or other financial institution that is not an existing
Bank the opportunity to provide a new Revolving Commitment pursuant to paragraph (b) below. If any
portion of the increased Revolving Commitments offered to the Banks as contemplated in the
immediately preceding sentence is not subscribed for by the Banks, the Borrowers may, with the
consent of the Administrative Agent as to any bank or financial institution that is not at such
time a Bank (which consent shall not be unreasonably withheld or delayed), offer to any existing
Bank or to one or more additional banks or financial institutions the opportunity to provide all or
a portion of such unsubscribed portion of the increased Revolving Commitments pursuant to paragraph
(b) below.

          (b) Any additional bank or financial institution that the Borrowers select to offer the
opportunity to provide any portion of the increased Revolving Commitments, and that elects to
become a party to this Agreement and provide a Revolving Commitment, shall execute a New Bank
Supplement with the Borrowers and the Administrative Agent, substantially in the form of Exhibit K
(a “New Bank Supplement”), whereupon such bank or financial institution (a “New
Bank”) shall become a Bank for all purposes and to the same extent as if originally a party
hereto and shall be bound by and entitled to the benefits of this Agreement, and Schedule I shall
be deemed to be amended to add the name and Revolving Commitment of such New Bank, provided
that the Revolving Commitment of any such New Bank shall be in a principal amount not less than
$10,000,000.

          (c) Any Bank that accepts an offer to it by the Borrowers to increase its Revolving
Commitment pursuant to this subsection 2.10 shall, in each case, execute a Revolving Commitment
Increase Supplement with the Borrowers and the Administrative Agent, substantially in the form of
Exhibit L (a “Revolving Commitment Increase Supplement”), whereupon such Bank (an
“Increasing Bank”) shall be bound by and entitled to the benefits of this Agreement with
respect to the full amount of its Revolving Commitment as so increased, and Schedule I shall be
deemed to be amended to so increase the Revolving Commitment of such Bank.

          (d) The effectiveness of any New Bank Supplement or Revolving Commitment Increase Supplement
shall be contingent upon receipt by the Administrative Agent of such corporate resolutions of the
Borrowers and legal opinions of counsel to the Borrowers as the Administrative Agent shall
reasonably request with respect thereto.

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          (e) (i) Except as otherwise provided in subparagraphs (ii) and (iii) of this paragraph (e),
if any bank or financial institution becomes a New Bank pursuant to subsection 2.10(b) or any
Bank’s Revolving Commitment is increased pursuant to subsection 2.10(c), additional Committed Rate
Loans made on or after the date of the effectiveness thereof (the “Re-Allocation Date”)
shall be made in accordance with the pro rata provisions of subsection 5.3 based on the Revolving
Commitment Percentages (or relevant Foreign Currency Commitment Percentages, as the case may be) in
effect on and after such Re-Allocation Date (except to the extent that any such pro rata borrowings
would result in any Bank making an aggregate principal amount of Committed Rate Loans in excess of
its Revolving Commitment (or relevant Foreign Currency Commitment, as the case may be), in which
case such excess amount will be allocated to, and made by, the relevant New Banks and Increasing
Banks to the extent of, and in accordance with the pro rata provisions of subsection 5.3 based on,
their respective Revolving Commitments (or relevant Foreign Currency Commitments, as the case may
be)). On each Re-Allocation Date, the Administrative Agent shall deliver a notice to each Bank of
the adjusted Revolving Commitment Percentages after giving effect to any increase in the aggregate
Revolving Commitments made pursuant to this subsection 2.10 on such Re-Allocation Date.

     (ii) In the event that on any such Re-Allocation Date there is an unpaid principal
amount of Committed Rate ABR Loans, the applicable Borrower shall make prepayments thereof
and one or more Borrowers shall make borrowings of Committed Rate ABR Loans and/or Committed
Rate Eurocurrency Loans, as the applicable Borrower shall determine, so that, after giving
effect thereto, the Committed Rate ABR
Loans and Committed Rate Eurocurrency Loans outstanding are held as nearly as may be in
accordance with the pro rata provisions of subsection 5.3 based on such new Revolving
Commitment Percentage.

     (iii) In the event that on any such Re-Allocation Date there is an unpaid principal
amount of Committed Rate Eurocurrency Loans, such Committed Rate Eurocurrency Loans shall
remain outstanding with the respective holders thereof until the expiration of their
respective Interest Periods (unless the applicable Borrower elects to prepay any thereof in
accordance with the applicable provisions of this Agreement), and on the last day of the
respective Interest Periods the applicable Borrower shall make prepayments thereof and the
applicable Borrowers shall make borrowings of Committed Rate ABR Loans and/or Committed Rate
Eurocurrency Loans so that, after giving effect thereto, the Committed Rate ABR Loans and
Committed Rate Eurocurrency Loans outstanding are held by all of the Banks as nearly as may
be in accordance with the pro rata provisions of subsection 5.3 based on such new Revolving
Commitment Percentage.

          (f) Notwithstanding anything to the contrary in this subsection 2.10, no Bank shall have any
obligation to increase its Revolving Commitment unless it agrees to do so in its sole discretion.

          2.11 Refunding of Committed Rate Loans Denominated in Available Foreign Currencies.

          (a) Notwithstanding noncompliance with the conditions precedent set forth in subsection 10.2,
if any Committed Rate Loans denominated in any Available Foreign Currency

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(any such Loans,
“Specified Loans”) are outstanding on (i) any date on which an Event of Default pursuant to
Section 13(g) shall have occurred with respect to the Company or (ii) any Acceleration Date, then,
at 10:00 A.M., New York City time, on the second Business Day immediately succeeding (x) the date
on which such Event of Default occurs (in the case of clause (i) above) or (y) such Acceleration
Date (in the case of clause (ii) above), the Administrative Agent shall be deemed to have received
a notice from the Company pursuant to subsection 2.2 requesting that Committed Rate ABR Loans be
made pursuant to subsection 2.1 on such second Business Day in an aggregate amount equal to the
Dollar Equivalent Amount of the aggregate amount of all Specified Loans, and the procedures set
forth in subsection 2.2 shall be followed in making such Committed Rate ABR Loans. The proceeds of
such Committed Rate ABR Loans shall be applied to repay such Specified Loans.

          (b) If, for any reason, Committed Rate ABR Loans may not be made pursuant to paragraph (a) of
this subsection 2.11 to repay Specified Loans as required by such paragraph, effective on the date
such Committed Rate ABR Loans would otherwise have been made, (i) the principal amount of each
relevant Specified Loan shall be converted into Dollars (calculated on the basis of the Exchange
Rate as of the immediately preceding Business Day) (“Converted Specified Loans”) and (ii)
each Bank severally, unconditionally and irrevocably agrees that it shall purchase in Dollars a
participating interest in such Converted Specified Loans in an amount equal to the amount of
Committed Rate ABR Loans which would otherwise have been made by
such Bank pursuant to paragraph (a) of this subsection 2.11. Each Bank will immediately
transfer to the Administrative Agent, in immediately available funds, the amount of its
participation, and the proceeds of such participation shall be distributed by the Administrative
Agent to each Bank having such Specified Loans in such amount as will reduce the amount of the
participating interest retained by such Bank in the Converted Specified Loans to the amount of the
Committed Rate ABR Loans which were to have been made by it pursuant to paragraph (a) of this
subsection 2.11. All Converted Specified Loans shall bear interest at the rate which would
otherwise be applicable to Committed Rate ABR Loans. Each Bank shall share on a pro
rata basis (calculated by reference to its participating interest in such Converted
Specified Loans) in any interest which accrues thereon and in all repayments thereof.

          (c) If, for any reason, Committed Rate ABR Loans may not be made pursuant to paragraph (a) of
this subsection 2.11 to repay Specified Loans as required by such paragraph and the principal
amount of any Specified Loans may not be converted into Dollars in the manner contemplated by
paragraph (b) of this subsection 2.11, (i) the Administrative Agent shall determine the Dollar
Equivalent Amount of such Specified Loans (calculated on the basis of the Exchange Rate determined
as of the Business Day immediately preceding the date on which Committed Rate ABR Loans would
otherwise have been made pursuant to said paragraph (a)) and (ii) effective on the date on which
Committed Rate ABR Loans would otherwise have been made pursuant to said paragraph (a), each Bank
severally, unconditionally and irrevocably agrees that it shall purchase in Dollars a participating
interest in such Specified Loans in an amount equal to the amount of Committed Rate ABR Loans which
would otherwise have been made by such Bank pursuant to paragraph (a) of this subsection 2.11.
Each Bank will immediately transfer to the Administrative Agent, in immediately available funds,
the amount of its participation, and the proceeds of such participation shall be distributed by the
Administrative Agent to each relevant Bank having Specified Loans in such amount as will reduce the
Dollar Equivalent Amount as of such date of the amount of the participating interest retained by
such

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Bank in such Specified Loans to the amount of the Committed Rate ABR Loans which were to have
been made by it pursuant to paragraph (a) of this subsection 2.11. Each Bank shall share on a
pro rata basis (calculated by reference to its participating interest in such
Specified Loans) in any interest which accrues thereon, in all repayments of principal thereof and
in the benefits of any collateral furnished in respect thereof and the proceeds of such collateral.

          (d) If any amount required to be paid by any Bank to any other Bank pursuant to this
subsection 2.11 in respect of any Specified Loan is not paid to such Bank on the date such payment
is due from such Bank, such obligor Bank shall pay to such obligee Bank on demand an amount equal
to the product of (i) such amount, times (ii) the daily average Federal funds rate, as quoted by
such obligee Bank during the period from and including the date such payment is required to the
date on which such payment is immediately available to such obligee Bank, times (iii) a fraction
the numerator of which is the number of days that elapse during such period and the denominator of
which is 360. A certificate of an obligee Bank submitted to any obligor Bank through the
Administrative Agent with respect to any amounts owing under this subsection (d) shall be
conclusive in the absence of manifest error.

          2.12 Certain Borrowings of Committed Rate Loans and Refunding of Loans.

          (a) If on any Borrowing Date on which a Specified Borrower has requested the Banks (the
“Specified Foreign Currency Banks”) to make Committed Rate Loans denominated in an
Available Foreign Currency (the “Requested Specified Loans”) (i) the principal amount of
the Requested Specified Loans to be made by any Specified Foreign Currency Bank exceeds the
unused amount of the Revolving Commitment of such Specified Foreign Currency Bank in the requested
Available Foreign Currency (before giving effect to the making and payment of any Loans required to
be made pursuant to this subsection 2.12 on such Borrowing Date) , (ii) the principal amount of
such Requested Specified Loan, when added to the outstanding principal amount of all other
Committed Rate Loans of such Specified Foreign Currency Banks denominated in the Available Foreign
Currency in which the Requested Specified Loans are to be made, does not exceed the aggregate
amount of such Specified Foreign Currency Banks’ Foreign Currency Commitments in such requested
Available Foreign Currency and (iii) the Dollar Equivalent of the amount of the excess described in
the foregoing clause (i) is less than or equal to the aggregate unused amount of the Revolving
Commitments of all Banks other than such Specified Foreign Currency Banks (before giving effect to
the making and payment of any Loans pursuant to this subsection 2.12 on such Borrowing Date), each
Bank other than such Specified Foreign Currency Banks shall make a Committed Rate Loan denominated
in Dollars to the Company (or any Specified Borrower identified by the Company) on such Borrowing
Date, and the proceeds of such Committed Rate Loans shall be simultaneously applied to repay
outstanding Committed Rate Loans denominated in Dollars of such Specified Foreign Currency Banks in
each case in amounts such that, after giving effect to (1) such borrowings and repayments and (2)
the borrowing from such Specified Foreign Currency Banks of the Requested Specified Loans, the
excess described in the foregoing clause (i) will be eliminated. To effect such borrowings and
repayments, (x) not later than 12:00 Noon, New York City time, on such Borrowing Date, the proceeds
of such Committed Rate Loans denominated in Dollars shall be made available by each Bank other than
such Specified Foreign Currency Banks to the Administrative Agent at its office specified in
subsection 15.2 in Dollars and in immediately available funds and the Administrative Agent shall
apply the proceeds of such Committed Rate

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Loans denominated in Dollars toward repayment of
outstanding Committed Rate Loans denominated in Dollars of such Specified Foreign Currency Banks
(as directed by the Company) and (y) concurrently with the repayment of such Loans on such
Borrowing Date, (I) such Specified Foreign Currency Banks shall, in accordance with the applicable
provisions hereof, make the Requested Specified Loans in an aggregate amount equal to the amount
so requested by the relevant Specified Borrower and (II) the relevant Borrower shall pay to the
Administrative Agent for the account of the Specified Foreign Currency Banks whose Loans to such
Borrower are repaid on such Borrowing Date pursuant to this subsection 2.12 all interest accrued on
the amounts repaid to the date of repayment, together with any amounts payable pursuant to
subsection 8.8 in connection with such repayment, provided that the Administrative Agent
shall have provided notice to the Company prior to the making of such Requested Specified Loans
that the making thereof would obligate the Company to pay amounts pursuant to subsection 8.8.

          (b) If any borrowing of Committed Rate Loans is required pursuant to this subsection 2.12, the
Company shall notify the Administrative Agent in the manner provided for Committed Rate Loans in
subsection 2.3, except that the minimum borrowing amounts and threshold multiples in excess thereof
applicable to Committed Rate ABR Loans set forth in subsection 2.3 shall not be applicable to the
extent that such minimum borrowing amounts exceed the amounts of Committed Rate Loans required to be made pursuant to this subsection
2.12.

          2.13 Extension of Revolving Termination Date.

          (a) The Company may, by written notice to the Administrative Agent in the form of Exhibit J-1
(the “Extension Request”) given no earlier than 60 days prior to each anniversary of the
Closing Date but no later than 45 days prior to each anniversary of the Closing Date, request that
the then applicable Revolving Termination Date be extended to the date that is one calendar year
after the then applicable Revolving Termination Date. Such extension shall be effective with
respect to each Bank that, by a written notice in the form of Exhibit J-2 (a “Continuation
Notice”) to the Administrative Agent given no later than 20 days prior to the then applicable
anniversary of the Closing Date, consents, in its sole discretion, to such extension (each Bank
giving a Continuation Notice being referred to herein as a “Continuing Bank” and each Bank
other than a Continuing Bank being referred to herein as a “Non-Extending Bank”), provided
that (i) such extension shall be effective only if the aggregate Revolving Commitments of the
Continuing Banks constitute at least a majority of the Total Revolving Commitments on the date of
the Extension Request, (ii) any Bank that fails to submit a Continuation Notice at least 20 days
prior to the then applicable anniversary of the Closing Date shall be deemed not to have consented
to such extension and shall constitute a Non-Extending Bank and (iii) the Company may give no more
than two Extension Requests during the term of this Agreement. No Bank shall have any obligation
to consent to any extension of the Revolving Termination Date. The Administrative Agent shall
notify each Bank of the receipt of an Extension Request promptly after receipt thereof. The
Administrative Agent shall notify the Company and the Banks no later than 15 days prior to the then
applicable anniversary of the Closing Date which Banks are Continuing Banks and which Banks are
Non-Extending Banks, and whether the Administrative Agent has received Continuation Notices from
Banks holding Revolving Commitments aggregating at least a majority of the Total Revolving
Commitments on the date of the Extension Request.

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          (b) The Revolving Commitment of each Non-Extending Bank shall terminate at the close of
business on the Revolving Termination Date in effect prior to the delivery of such Extension
Request without giving any effect to such proposed extension. On such Revolving Termination Date,
the Company shall pay to the Administrative Agent, for the account of each Non-Extending Bank, an
amount equal to such Non-Extending Bank’s Revolving Loans, together with accrued but unpaid
interest and fees thereon and all other amounts then payable hereunder to such Non-Extending Bank.
If, however, on or before the applicable Revolving Termination Date in effect immediately prior to
the effectiveness of the Extension Request pursuant to this Section 2.13, the Company obtains a
Replacement Bank pursuant to subsection 15.1(e) for any such Non-Extending Bank and such
Replacement Bank agrees to the extension of the Revolving Termination Date pursuant to this Section
2.13, then such Replacement Bank shall for all purposes of this Section 2.13 and this Agreement be
deemed to be a Continuing Bank, and the Revolving Loans of such Bank shall not be due and payable
pursuant to this Section 2.13(b).

SECTION 3. THE COMPETITIVE ADVANCE LOANS

          3.1 Competitive Advance Loans.

          (a) Subject to the terms and conditions hereof, any Specified Borrower may, from time to time
during the Revolving Commitment Period, request the Banks to offer bids, and any Bank may, in its
sole discretion, offer such bids, to make competitive advance loans (“Competitive Advance
Loans”) to such Specified Borrower on the terms and conditions set forth in such bids. Each
Competitive Advance Loan shall bear interest at the rates, be payable on the dates, and shall
mature on the date, agreed between such Specified Borrower and Bank at the time such Competitive
Advance Loan is made; provided, that (i) each Competitive Advance Loan shall mature not
earlier than 1 day and not later than 180 days, after the date such Competitive Advance Loan is
made and (ii) no Competitive Advance Loan shall mature after the Revolving Termination Date.
During the Revolving Commitment Period, the Specified Borrowers may accept bids from Banks from
time to time for Competitive Advance Loans, and borrow and repay Competitive Advance Loans, all in
accordance with the terms and conditions hereof; provided, that no Competitive Advance Loan
shall be made if, after giving effect to the making of such Loan and the simultaneous application
of the proceeds thereof, (i) the aggregate amount of the Exposure of all the Banks would exceed the
aggregate amount of the Revolving Commitments, or (ii) the aggregate amount of the Foreign Currency
Exposure in respect of any Currency would exceed the Foreign Currency Exposure Sublimit for such
Currency. Subject to the foregoing, any Bank may, in its sole discretion, make Competitive Advance
Loans in an aggregate outstanding amount exceeding the amount of such Bank’s Revolving Commitment.

          (b) The Competitive Advance Loans may be made in Dollars or any Available Foreign Currency, as
agreed between the Specified Borrower and Bank in respect thereof at the time such Competitive
Advance Loan is made.

          3.2 Procedure for Competitive Advance Loan Borrowing. (i) Any Specified Borrower may
request Competitive Advance Loans by delivering a Competitive Advance Loan Request. The
Administrative Agent shall notify each Bank promptly by facsimile transmission of the contents of
each Competitive Advance Loan Request received by the Administrative Agent. Each Bank may elect, in
its sole discretion, to offer irrevocably to make one or more

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Competitive Advance Loans to the
Specified Borrower by delivering a Competitive Advance Loan Offer to the Administrative Agent.

          (a) Before the acceptance time set forth in the applicable Competitive Advance Loan Request,
the Specified Borrower, in its absolute discretion, shall:

          (i) cancel such Competitive Advance Loan Request by giving the Administrative
Agent telephone notice to that effect, or

          (ii) by giving telephone notice to the Administrative Agent immediately
confirmed in writing or by facsimile transmission, subject to the provisions of
subsection 3.2(c), accept one or more of the offers made by any
Bank or Banks pursuant to subsection 3.2(a) of the amount of Competitive
Advance Loans for each relevant maturity date and reject any remaining offers made
by Banks pursuant to subsection 3.2(a).

          (b) The Specified Borrower’s acceptance of Competitive Advance Loans in response to any
Competitive Advance Loan Request shall be subject to the following limitations:

          (i) The amount of Competitive Advance Loans accepted for each maturity date
specified by any Bank in its Competitive Advance Loan Offer shall not exceed the
maximum amount for such maturity date specified in such Competitive Advance Loan
Offer;

          (ii) the aggregate amount of Competitive Advance Loans accepted for all
maturity dates specified by any Bank in its Competitive Advance Loan Offer shall not
exceed the aggregate maximum amount specified in such Competitive Advance Loan Offer
for all such maturity dates;

          (iii) the Specified Borrower may not accept offers for Competitive Advance
Loans for any maturity date in an aggregate principal amount in excess of the
maximum principal amount requested in the related Competitive Advance Loan Request;
and

          (iv) if the Specified Borrower accepts any of such offers, it must accept
offers based solely upon pricing for such relevant maturity date and upon no other
criteria whatsoever and if two or more Banks submit offers for any maturity date at
identical pricing and the Specified Borrower accepts any of such offers but does not
wish to (or by reason of the limitations set forth in subsection 3.2(c)(iii) cannot)
borrow the total amount offered by such Banks with such identical pricing, the
Administrative Agent shall allocate offers from all of such Banks in amounts among
them pro rata according to the amounts offered by such Banks (or as
nearly pro rata as shall be practicable).

          (c) If the Specified Borrower notifies the Administrative Agent that a Competitive Advance
Loan Request is cancelled, the Administrative Agent shall give prompt telephone notice thereof to
the Banks.

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          (d) If the Specified Borrower accepts one or more of the offers made by any Bank or Banks, the
Administrative Agent promptly shall notify each Bank which has made such a Competitive Advance Loan
Offer of (i) the aggregate amount of such Competitive Advance Loans to be made for each maturity
date and (ii) the acceptance or rejection of any offers to make such Competitive Advance Loans made
by such Bank. Before the Funding Time for the applicable Currency, each Bank whose Competitive
Advance Loan Offer has been accepted shall make available to the Administrative Agent for the
account of the Specified Borrower at the Funding Office for the applicable Currency the amount of
Competitive Advance Loans in the applicable Currency to be made by such Bank, in immediately
available funds.

          3.3
Repayment of Competitive Advance Loans; Evidence of Debt.

          (a) Each Specified Borrower that borrows any Competitive Advance Loan hereby unconditionally
promises to pay to the Bank that made such Competitive Advance Loan on the maturity date, as agreed
by such Specified Borrower and Bank (or such earlier date on which all the Loans become due and
payable pursuant to Section 13), the then unpaid principal amount of such Competitive Advance Loan.
Each Specified Borrower hereby further agrees to pay interest on the unpaid principal amount of
the Competitive Advance Loans made by any Bank to such Specified Borrower from time to time
outstanding from the date thereof until payment in full thereof at the rate per annum, and on the
dates, agreed by such Specified Borrower and Bank at the time such Competitive Advance Loan is
made. All payments in respect of Competitive Advance Loans shall be made by such Specified
Borrower to the Administrative Agent for the account of the Bank that makes such Competitive
Advance Loan to the Payment Office and by the Payment Time for the applicable Currency.

          (b) Each Bank shall maintain in accordance with its usual practice an account or accounts
evidencing indebtedness of each Specified Borrower to such Bank resulting from each Competitive
Advance Loan of such Bank from time to time, including the amounts of principal and interest
payable and paid to such Bank from time to time in respect of Competitive Advance Loans. The
entries made in the accounts of each Bank maintained pursuant to this subsection 3.3(b) shall, to
the extent permitted by applicable law, be prima facie evidence of the existence
and amounts of the obligations of each Specified Borrower therein recorded, absent manifest error;
provided, however, that the failure of any Bank to maintain any such account, or
any error therein, shall not in any manner affect the obligation of each Specified Borrower to
repay (with applicable interest) the Competitive Advance Loans made to such Specified Borrower by
such Bank in accordance with the terms of this Agreement.

          3.4 Prepayments. Unless otherwise agreed by the Bank making a Competitive Advance
Loan, upon giving a Notice of Prepayment at the address and time specified in Schedule IV may be
optionally prepaid prior to the scheduled maturity date thereof.

SECTION 4. THE SWING LINE LOANS

          4.1 Swing Line Loans. Subject to the terms and conditions hereof, each Specified
Borrower may borrow from such Specified Borrower’s Swing Line Bank swing line loans (“Swing
Line Loans”) from time to time during the Revolving Commitment Period in a Swing Line Currency
of such Specified Borrower; provided, that no Swing Line Loan shall be

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made if, after giving effect to the making of such Loan and the simultaneous application of the proceeds thereof,
(i) the aggregate amount of the Exposure of all the Banks would exceed the aggregate amount of the
Revolving Commitments, (ii) the aggregate amount of the Foreign Currency Exposure in respect of any
Currency would exceed the Foreign Currency Exposure Sublimit for such Currency, or (iii) the
aggregate Dollar Equivalent Amount of all outstanding Swing Line Loans of such Specified Borrower
would exceed the Swing Line Limit for such Specified Borrower or the
Dollar Equivalent Amount of all outstanding Swing Line Loans would exceed $200,000,000.
During the Revolving Commitment Period, the Specified Borrowers may borrow and prepay the Swing
Line Loans, in whole or in part, all in accordance with the terms and conditions hereof.

          4.2 Procedure for Swing Line Borrowing.

          (a) Any Specified Borrower may borrow Swing Line Loans during the Revolving Commitment Period
on any Business Day by giving a Notice of Swing Line Borrowing in respect of such Swing Line Loan.
Subject to the terms and conditions hereof, on the Borrowing Date of each Swing Line Loan, the
relevant Swing Line Bank shall make the proceeds thereof available to the relevant Specified
Borrower in immediately available funds in the applicable Currency in the manner from time to time
agreed by such Specified Borrower and such Swing Line Bank.

          (b) Upon request of the Administrative Agent and on the last Business Day of each month on
which a Swing Line Bank has any outstanding Swing Line Loans, such Bank shall deliver to the
Administrative Agent a Notice of Swing Line Outstandings. The Administrative Agent will, at the
request of any Swing Line Bank, advise such Swing Line Bank of the Exchange Rate used by the
Administrative Agent in calculating the Dollar Equivalent Amount of Swing Line Loans of such Swing
Line Bank on any date.

          4.3 Repayment of Swing Line Loans; Evidence of Debt.

          (a) Each Specified Borrower hereby unconditionally promises to pay to its Swing Line Bank on
the Revolving Termination Date (or such earlier date on which such Swing Line Loans become due and
payable pursuant to subsection 4.4 or on which all the Loans become due and payable pursuant to
Section 13), the then unpaid principal amount of all Swing Line Loans made to such Specified
Borrower. Each Specified Borrower hereby further agrees to pay interest on the unpaid principal
amount of all Swing Line Loans made to such Specified Borrower from time to time outstanding from
the date thereof until payment in full thereof at the Swing Line Rate for the Currency of such
Swing Line Loan, payable on the last Business Day of each calendar month on which such Swing Line
Loans are outstanding. All payments in respect of Swing Line Loans shall be made by such Specified
Borrower to its Swing Line Bank at the address set forth in Schedule III for such Swing Line Bank
and Swing Line Loans in such Currency.

          (b) Each Swing Line Bank shall maintain in accordance with its usual practice an account or
accounts evidencing indebtedness of each Specified Borrower to such Swing Line Bank resulting from
each Swing Line Loan of such Bank from time to time, including the amounts of principal and
interest payable and paid to such Swing Line Bank from time to time

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under this Agreement. The entries made in the accounts of each Swing Line Bank maintained pursuant to this subsection 4.3(b)
shall, to the extent permitted by applicable law, be prima facie evidence of the
existence and amounts of the obligations of each Specified Borrower therein recorded;
provided, however, that the failure of any Swing Line Bank to maintain any such
account, or any error therein, shall not in any manner affect the obligation of each Specified
Borrower to repay (with applicable interest) the Swing Line Loans made to such Specified Borrower
by such Swing Line Bank in accordance with the terms of this Agreement.

          4.4 Allocating Swing Line Loans; Swing Line Loan Participations.

          (a) If any Event of Default shall occur and be continuing, any Swing Line Bank may, in its
sole and absolute discretion, direct that the Swing Line Loans owing to it be refunded, by
delivering a Notice of Swing Line Refunding. Upon receipt of a Notice of Swing Line Refunding the
Administrative Agent shall promptly give notice of the contents thereof to the Banks and, unless an
Event of Default described in Section 13(g) in respect of the Company or the relevant Specified
Borrower has occurred, to the Company and the relevant Specified Borrower. Each such Notice of
Swing Line Refunding shall be deemed to constitute delivery by such Specified Borrower of a Notice
of Borrowing of Committed Rate Eurocurrency Loans in the amount and Currency of the Swing Line
Loans to which it relates, for an Interest Period of one month’s duration. Subject to the terms
and conditions hereof, each Bank (including each Swing Line Bank in its capacity as a Bank having a
Commitment) hereby agrees to make a Committed Rate Loan to such Specified Borrower pursuant to
Section 2 in an amount equal to such Bank’s Revolving Borrowing Percentage of the aggregate amount
of the Swing Line Loans to which such Notice of Swing Line Refunding relates. Unless any of the
events described in Section 13(g) in respect of the Company or such Specified Borrower shall have
occurred (in which case the procedures of subsection 4.4(b) shall apply), each Bank shall make the
amount of such Committed Rate Loan available to the Administrative Agent at the Funding Office, and
at or prior to the Funding Time, for the Currency of such Loan in funds immediately available to
the Administrative Agent. The proceeds of such Committed Rate Loans shall be immediately made
available to such Swing Line Bank by the Administrative Agent and applied by such Swing Line Bank
to repay the Swing Line Loans to which such Notice of Swing Line Refunding related.

          (b) If prior to the time a Committed Rate Loan would have otherwise been made pursuant to
subsection 4.4(a), one of the events described in Section 13(g) shall have occurred in respect of
the Company or the relevant Specified Borrower, each Bank (other than the relevant Swing Line Bank)
shall, on the date such Committed Rate Loan would have been made pursuant to the Notice of Swing
Line Refunding referred to in subsection 4.4(a) (the “Refunding Date”), purchase an
undivided participating interest in the outstanding Swing Line Loans to which such Notice of Swing
Line Refunding related, in an amount equal to (i) such Bank’s Revolving Commitment Percentage
times (ii) the aggregate principal amount of such Swing Line Loans then outstanding which
were to have been repaid with Committed Rate Loans (the “Swing Line Participation Amount”).
On the Refunding Date, (x) each Bank shall transfer to such Swing Line Bank, in immediately
available funds, such Bank’s Swing Line Participation Amount, and upon receipt thereof such Swing
Line Bank shall, if requested by any Bank, deliver to such Bank a participation certificate dated
the date of such Swing Line Bank’s receipt of such funds and evidencing such Bank’s ownership of
its Swing Line Participation Amount and (y) the interest

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rate on the applicable Swing Line Loan will automatically be converted to the applicable Eurocurrency Rate with an Interest Period of one
month plus the Applicable Margin for
Committed Rate Loans. If any amount required to be paid by any Bank to any Swing Line Bank
pursuant to this subsection 4.4 in respect of any Swing Line Participation Amount is not paid to
such Swing Line Bank on the date such payment is due from such Bank, such Bank shall pay to such
Swing Line Bank on demand an amount equal to the product of (i) such amount, times (ii) (A) in the
case of any such payment obligation denominated in Dollars, the daily average Federal funds rate,
as quoted by such Swing Line Bank, or (B) in the case of any such payment obligation denominated in
an Available Foreign Currency, the rate customary in such Currency for settlement of similar
inter-bank obligations, as quoted by such Swing Line Bank, in each case during the period from and
including the date such payment is required to the date on which such payment is immediately
available to the Swing Line Bank, times (iii) a fraction the numerator of which is the number of
days that elapse during such period and the denominator of which is 360. A certificate of a Swing
Line Bank submitted to any Bank with respect to any amounts owing under this subsection shall be
conclusive in the absence of manifest error.

          (c) Whenever, at any time after any Swing Line Bank has received from any Bank such Bank’s
Swing Line Participation Amount, such Swing Line Bank receives any payment on account of the
related Swing Line Loans, such Swing Line Bank will distribute to such Bank its Revolving
Commitment Percentage of such payment on account of its Swing Line Participation Amount
(appropriately adjusted, in the case of interest payments, to reflect the period of time during
which such Bank’s participating interest was outstanding and funded); provided,
however, that in the event that such payment received by such Swing Line Bank is required
to be returned, such Bank will return to such Swing Line Bank any portion thereof previously
distributed to it by such Swing Line Bank.

          (d) Each Bank’s obligation to make Committed Rate Loans pursuant to subsection 4.4(a) and to
purchase participating interests pursuant to subsection 4.4(b) shall be absolute and unconditional
and shall not be affected by any circumstance, including, without limitation, (i) any set-off,
counterclaim, recoupment, defense or other right which such Bank may have against any other Bank or
any Specified Borrower, or any Specified Borrower may have against any Bank or any other Person, as
the case may be, for any reason whatsoever; (ii) the occurrence or continuance of a Default or an
Event of Default; (iii) any adverse change in the condition (financial or otherwise) of the Company
or any of its Subsidiaries; (iv) any breach of this Agreement by any party hereto; or (v) any other
circumstance, happening or event whatsoever, whether or not similar to any of the foregoing.

SECTION 5. THE LETTERS OF CREDIT

          5.1 L/C Commitment. (a) As of the Closing Date, the existing letters of credit set
forth on Schedule 5.1 shall be deemed Letters of Credit hereunder. Subject to the terms
and conditions hereof, each Issuing Bank agrees to issue letters of credit for the account of any
Specified Borrower on any Business Day during the Revolving Commitment Period in such form as shall
be reasonably acceptable to such Issuing Bank; provided, that no Letter of Credit shall be
issued if, after giving effect thereto (i) the aggregate amount of the Exposure of all the Banks
would exceed the aggregate amount of the Revolving Commitments, (ii) the aggregate amount of the
Foreign Currency Exposure in respect of any Currency would exceed the Foreign Currency

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Exposure Sublimit for such Currency or (iii) the aggregate amount of the L/C Obligations would exceed
$100,000,000.

          (a) Each Letter of Credit shall:

          (i) be denominated in Dollars or an Available Foreign Currency and shall be
either (A) a standby letter of credit issued to support obligations of a Specified
Borrower, contingent or otherwise, to provide credit support for workers’
compensation, other insurance programs and other lawful corporate purposes (a
“Standby Letter of Credit”) or (B) a commercial letter of credit issued in
respect of the purchase of goods and services in the ordinary course of business of
the Company and its Subsidiaries (a “Commercial Letter of Credit”; together
with the Standby Letters of Credit, the “Letters of Credit”) and,

          (ii) expire no later than the earlier of 365 days after its date of issuance
and 5 Business Days prior to the Revolving Termination Date although any such Letter
of Credit may be automatically extended for periods of one year from the current or
any future expiration date of the Letter of Credit (unless the Issuing Bank elects
not to extend such Letter of Credit) and the extended maturity date is not beyond 5
Business Days prior to the Revolving Termination Date.

          (b) Each Letter of Credit shall be subject to the Uniform Customs and, to the extent not
inconsistent therewith, the laws of the State of New York or, if acceptable to the Required Banks
and the relevant account party, the jurisdiction of the Issuing Office at which such Letter of
Credit is issued.

          (c) No Issuing Bank shall at any time be obligated to issue any Letter of Credit hereunder if
such issuance would conflict with, or cause such Issuing Bank or any Bank to exceed any limits
imposed by, any change after the date hereof in any applicable Requirement of Law.

          5.2 Procedure for Issuance of Letters of Credit under this Agreement. Any Specified
Borrower may from time to time request that an Issuing Bank issue a Letter of Credit by delivering
to such Issuing Bank at its Issuing Office an Application therefor (with a copy to the
Administrative Agent), completed to the satisfaction of the Issuing Bank, and such other
certificates, documents and other papers and information as such Issuing Bank may reasonably
request. Upon receipt by an Issuing Bank of any Application, and subject to the terms and
conditions hereof, such Issuing Bank will process such Application and the certificates, documents
and other papers and information delivered to it in connection therewith in accordance with its
customary procedures and shall promptly issue the Letter of Credit requested thereby (but in no
event shall any Issuing Bank be required to issue any Letter of Credit earlier than five Business
Days after its receipt of the Application therefor and all such other certificates, documents and
other papers and information relating thereto) by issuing the original of such Letter of Credit to
the beneficiary thereof or as otherwise may be agreed by such Issuing Bank and such Specified
Borrower. Such Issuing Bank shall advise the Administrative Agent of the terms of such Letter of
Credit on the date of issuance thereof and shall promptly thereafter

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furnish copies thereof and each amendment thereto to the Company and through the
Administrative Agent each Bank.

          5.3 Fees, Commissions and Other Charges.

          (a) Each Specified Borrower for whose account a Letter of Credit is issued hereunder shall pay
to the Administrative Agent, for the account of the Banks (including the Issuing Bank) pro
rata according to their Revolving Commitment Percentages, a letter of credit commission
with respect to each Letter of Credit, computed at a rate equal to the then Applicable Margin for
Committed Rate Eurocurrency Loans on the daily average undrawn face amount of such Letter of
Credit. Such commissions shall be payable in arrears on the last Business Day of each March, June,
September and December to occur after the date of issuance of each Letter of Credit and on the
expiration date of such Letter of Credit and shall be nonrefundable.

          (b) In addition to the foregoing fees and commissions, each Specified Borrower for whose
account a Letter of Credit is issued hereunder shall (i) pay or reimburse the Issuing Bank for such
normal and customary costs and expenses as are incurred or charged by such Issuing Bank in issuing,
effecting payment under, amending or otherwise administering such Letter of Credit and (ii) pay the
Issuing Bank such other fees as shall be agreed by the Issuing Bank and such Specified Borrower.

          (c) The Administrative Agent shall, promptly following its receipt thereof, distribute to the
Issuing Bank and the Banks all fees and commissions received by the Administrative Agent for their
respective accounts pursuant to this subsection.

          5.4 L/C Participations.

          (a) Each Issuing Bank irrevocably agrees to grant and hereby grants to each L/C Participant,
and, to induce the Issuing Bank to issue Letters of Credit hereunder, each L/C Participant
irrevocably agrees to accept and purchase and hereby accepts and purchases from such Issuing Bank,
on the terms and conditions hereinafter stated, for such L/C Participant’s own account and risk, an
undivided interest equal to such L/C Participant’s Revolving Commitment Percentage in such Issuing
Bank’s obligations and rights under each Letter of Credit issued by such Issuing Bank hereunder and
the amount of each draft paid by such Issuing Bank thereunder. Each L/C Participant
unconditionally and irrevocably agrees with each Issuing Bank that, if a draft is paid under any
Letter of Credit issued by such Issuing Bank for which the Specified Borrower which is the account
party under such Letter of Credit has not reimbursed such Issuing Bank to the full extent required
by the terms of this Agreement, such L/C Participant shall pay to such Issuing Bank upon demand at
such Issuing Bank’s Issuing Office an amount equal to such L/C Participant’s Revolving Commitment
Percentage of the amount of such draft, or any part thereof, which is not so reimbursed.

          (b) If any amount required to be paid by any L/C Participant to any Issuing Bank pursuant to
subsection 5.4(a) in respect of any unreimbursed portion of any payment made by
such Issuing Bank under any Letter of Credit is not paid to such Issuing Bank on the date such
payment is due from such L/C Participant, such L/C Participant shall pay to such Issuing Bank on
demand an amount equal to the product of (i) such amount, times (ii) (A) in the case of any

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such
payment obligation denominated in Dollars, the daily average Federal funds rate, as quoted by such
Issuing Bank, or (B) in the case of any such payment obligation denominated in an Available Foreign
Currency, the rate customary in such Currency for settlement of similar inter-bank obligations, as
quoted by such Issuing Bank, in each case during the period from and including the date such
payment is required to the date on which such payment is immediately available to the Issuing Bank,
times (iii) a fraction the numerator of which is the number of days that elapse during such period
and the denominator of which is 360. A certificate of an Issuing Bank submitted to any L/C
Participant with respect to any amounts owing under this subsection shall be conclusive in the
absence of manifest error.

          (c) Whenever, at any time after an Issuing Bank has made payment under any Letter of Credit
and has received from any L/C Participant its pro rata share of such payment in accordance with
subsection 5.4(a) the Issuing Bank receives any payment related to such Letter of Credit (whether
directly from the account party or otherwise, including by way of set-off or proceeds of collateral
applied thereto by such Issuing Bank), or any payment of interest on account thereof, such Issuing
Bank will distribute to such L/C Participant its pro rata share thereof; provided,
however, that in the event that any such payment received by such Issuing Bank shall be
required to be returned by the Issuing Bank, such L/C Participant shall return to such Issuing Bank
the portion thereof previously distributed by such Issuing Bank to it.

          5.5 Reimbursement Obligation of the Specified Borrowers.

          (a) Each Specified Borrower for whose account a Letter of Credit is issued hereunder agrees to
reimburse the Issuing Bank in respect of such Letter of Credit on each date on which such Issuing
Bank notifies such Specified Borrower (with a copy to the Administrative Agent at its address in
the Administrative Schedule for Notices of Borrowing for the applicable Currency) of the date and
amount of a draft presented under such Letter of Credit and paid by such Issuing Bank for the
amount of (i) such draft so paid and (ii) any taxes, fees, charges or other costs or expenses
incurred by such Issuing Bank in connection with such payment; provided if any Issuing Bank
shall notify the Specified Borrower of a drawing after 2:00 p.m. local time of such Issuing Bank’s
Issuing Office on the date of any drawing under a Letter of Credit, the Specified Borrower will not
be required to reimburse such Issuing Bank until the next succeeding Business Day. Each such
payment shall be made to such Issuing Bank at its Issuing Office in the Currency in which payment
of such draft was made and in immediately available funds.

          (b) Interest shall be payable on any and all amounts remaining unpaid by any Specified
Borrower under this subsection from the date such amounts become payable (whether at stated
maturity, by acceleration or otherwise) until payment in full at the rate which is (i) in the case
of such amounts payable in Dollars, 2% above the ABR from time to time and (ii) in the case of such
amounts payable in any other currency, 2% above the rate reasonably determined by
the Issuing Bank as the cost of funding such overdue amount from time to time on an overnight
basis.

          (c) Each notice of a drawing under any Letter of Credit denominated in Dollars shall
constitute a request by the Specified Borrower for a borrowing pursuant to subsection 2.2 of
Committed Rate ABR Loans in the amount of such drawing plus any amounts payable pursuant

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to
subsection 5.5(a)(ii) in respect of such drawing. The Borrowing Date with respect to such
borrowing shall be the date of such drawing.

          5.6 Obligations Absolute.

          (a) The obligations of the Specified Borrowers under this Section 5 shall be absolute and
unconditional under any and all circumstances and irrespective of any set-off, counterclaim or
defense to payment which any Specified Borrower may have or have had against the Issuing Bank or
any beneficiary of a Letter of Credit.

          (b) Each Specified Borrower for whose account a Letter of Credit is issued hereunder also
agrees with the Issuing Bank in respect of such Letter of Credit that such Issuing Bank shall not
be responsible for, and such Specified Borrower’s Reimbursement Obligations under subsection 5.5(a)
shall not be affected by, among other things, (i) the validity or genuineness of documents or of
any endorsements thereon, even though such documents shall in fact prove to be invalid, fraudulent
or forged, provided, that reliance upon such documents by such Issuing Bank shall not have
constituted gross negligence or willful misconduct of such Issuing Bank or (ii) any dispute between
or among such Specified Borrower and any beneficiary of any Letter of Credit or any other party to
which such Letter of Credit may be transferred or (iii) any claims whatsoever of any Specified
Borrower against any beneficiary of such Letter of Credit or any such transferee.

          (c) No Issuing Bank shall be liable for any error, omission, interruption or delay in
transmission, dispatch or delivery of any message or advice, however transmitted, in connection
with any Letter of Credit, except for errors or omissions caused by such Issuing Bank’s gross
negligence or willful misconduct.

          (d) Each Specified Borrower for whose account a Letter of Credit is issued hereunder agrees
that any action taken or omitted by any Issuing Bank under or in connection with any Letter of
Credit or the related drafts or documents, if done in the absence of gross negligence or willful
misconduct and in accordance with the standards of care specified in the Uniform Customs, shall be
binding on such Specified Borrower and shall not result in any liability of such Issuing Bank to
such Specified Borrower.

          5.7 Letter of Credit Payments. If any draft shall be presented for payment to an
Issuing Bank under any Letter of Credit, such Issuing Bank shall promptly notify the account party
of the date and amount thereof. The responsibility of the Issuing Bank to the account party in
connection with any draft presented for payment under any Letter of Credit shall, in addition to
any payment obligation
expressly provided for in such Letter of Credit, be limited to determining that the documents
(including each draft) delivered under such Letter of Credit in connection with such presentment
are in conformity with such Letter of Credit.

          5.8 Application. To the extent that any provision of any Application related to any
Letter of Credit is inconsistent with the provisions of this Section 5, the provisions of this
Section 5 shall apply.

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SECTION 6. LOCAL CURRENCY FACILITIES

          6.1 Terms of Local Currency Facilities.

          (a) Subject to the provisions of this Section 6, the Company may in its discretion from time
to time designate any Subsidiary of the Company organized under the laws of any jurisdiction
outside the United States as a “Local Currency Borrower” and any Qualified Credit Facility
to which such Local Currency Borrower and any one or more Banks (or its affiliates, agencies or
branches) is a party as a “Local Currency Facility”, with the consent of each such Bank in
its sole discretion, by delivering a Local Currency Facility Addendum to the Administrative Agent
and the Banks (through the Administrative Agent) executed by the Company, each such Local Currency
Borrower and each such Bank, provided, that on the effective date of such designation no
Event of Default shall have occurred and be continuing. Concurrently with the delivery of a Local
Currency Facility Addendum, the Company or the relevant Local Currency Borrower shall furnish to
the Administrative Agent copies of all documentation executed and delivered by any Local Currency
Borrower in connection therewith, together with, if applicable, an English translation thereof.
Except as otherwise provided in this Section 6 or in the definition of “Qualified Credit Facility”
in subsection 1.1, the terms and conditions of each Local Currency Facility shall be determined by
mutual agreement of the relevant Local Currency Borrower(s) and Local Currency Bank(s). The
documentation governing each Local Currency Facility shall (i) contain an express acknowledgement
that such Local Currency Facility shall be subject to the provisions of this Section 6 and (ii)
designate a Local Currency Facility Agent for such Local Currency Facility. Each of the Company
and, by agreeing to any Local Currency Facility designation as contemplated hereby, each relevant
Local Currency Bank (if any) party thereto which is an affiliate, branch or agency of a Bank,
acknowledges and agrees that each reference in this Agreement to any Bank shall, to the extent
applicable, be deemed to be a reference to such Local Currency Bank. In the event of any
inconsistency between the terms of this Agreement and the terms of any Local Currency Facility, the
terms of this Agreement shall prevail.

          (b) The documentation governing each Local Currency Facility shall set forth (i) the maximum
amount (expressed in Dollars) available to be borrowed from all Local Currency Banks under such
Local Currency Facility (as the same may be reduced from time to time, a “Local Currency
Facility Maximum Borrowing Amount”) and (ii) with respect to each Local Currency Bank party to
such Local Currency Facility, the maximum Dollar Equivalent Amount
available to be borrowed from such Local Currency Bank thereunder (as the same may be reduced
from time to time, a “Local Currency Bank Maximum Borrowing Amount”).

          (c) Except as otherwise required by applicable law, in no event shall the Local Currency Banks
party to a Local Currency Facility have the right to accelerate the Local Currency Loans
outstanding thereunder, or to terminate their commitments (if any) to make such Local Currency
Loans prior to the earlier of the stated termination date in respect thereof or the Revolving
Termination Date, except, in each case, in connection with an acceleration of the Loans or a
termination of the Revolving Commitments pursuant to Section 13 of this Agreement,
provided, that nothing in this paragraph (c) shall be deemed to require any Local Currency
Bank to make a Local Currency Loan if the applicable conditions precedent to the making of such
Local Currency Loan set forth in the relevant Local Currency Facility have not been satisfied.

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No Local Currency Loan may be made under a Local Currency Facility if (i) after giving effect thereto,
the conditions precedent in subsection 10.2 would not be satisfied or (ii) after giving effect to
the making of such Local Currency Loan and the simultaneous application of the proceeds thereof,
(A) the aggregate amount of the Exposure of all the Banks would exceed the aggregate amount of the
Revolving Commitments, or (B) the amount of such Local Currency Bank’s Committed Exposure would
exceed the amount of such Local Currency Bank’s Commitment.

          (d) The relevant Local Currency Borrower shall furnish to the Administrative Agent copies of
any amendment, supplement or other modification (including any change in commitment amounts or in
the Local Currency Banks participating in any Local Currency Facility) to the terms of any Local
Currency Facility promptly after the effectiveness thereof (together with, if applicable, an
English translation thereof). If any such amendment, supplement or other modification to a Local
Currency Facility shall (i) add a Local Currency Bank as a Local Currency Bank thereunder or (ii)
change the Local Currency Facility Maximum Borrowing Amount or any Local Currency Bank Maximum
Borrowing Amount with respect thereto, the Company shall promptly furnish an appropriately revised
Local Currency Facility Addendum, executed by the Company, the relevant Local Currency Borrower and
the affected Local Currency Banks (or any agent acting on their behalf), to the Administrative
Agent and the Banks (through the Administrative Agent).

          (e) The Company may terminate its designation of a facility as a Local Currency Facility, with
the consent of each Local Currency Bank party thereto in its sole discretion, by written notice to
the Administrative Agent, which notice shall be executed by the Company, the relevant Local
Currency Borrower and each Local Currency Bank party to such Local Currency Facility (or any agent
acting on their behalf). Once notice of such termination is received by the Administrative Agent,
such Local Currency Facility and the loans and other obligations outstanding thereunder shall
immediately cease to be subject to the terms of this Agreement and shall cease to benefit from the
Company Guarantee.

          6.2 Reporting of Local Currency Outstandings. On the date of the making of any Local
Currency Loan having a maturity of 30 or more days to a Local Currency Borrower and on the last
Business Day of each month on which a Local Currency Borrower has any outstanding Local Currency
Loans, the Local
Currency Facility Agent for such Local Currency Borrower, shall deliver to the Administrative
Agent a Notice of Local Currency Outstandings. The Administrative Agent will, at the request of
any Local Currency Facility Agent, advise such Local Currency Facility Agent of the Exchange Rate
used by the Administrative Agent in calculating the Dollar Equivalent Amount of Local Currency
Loans under the related Local Currency Facility on any date.

          6.3 Refunding of Local Currency Loans.

          (a) Notwithstanding noncompliance with the conditions precedent set forth in subsection 10.2,
if any Local Currency Loans are outstanding on (i) any date on which an Event of Default pursuant
to Section 13(g) shall have occurred with respect to the Company, (ii) any Acceleration Date or
(iii) any date on which an Event of Default pursuant to Section 13(a)(ii) shall have occurred and
be continuing for three or more Business Days and, in the case of clause

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(iii) above, any Local
Currency Bank party to the affected Local Currency Facility shall have given notice thereof to the
Administrative Agent requesting that the Local Currency Loans (“Affected Local Currency
Loans”) outstanding thereunder be refunded pursuant to this subsection 6.3, then, at 10:00
A.M., New York City time, on the second Business Day immediately succeeding (x) the date on which
such Event of Default occurs (in the case of clause (i) above), (y) such Acceleration Date (in the
case of clause (ii) above) or (z) the date on which such notice is received by the Administrative
Agent (in the case of clause (iii) above), the Administrative Agent shall be deemed to have
received a notice from the Company pursuant to subsection 2.2 requesting that Committed Rate ABR
Loans be made pursuant to subsection 2.1 on such second Business Day in an aggregate amount equal
to the Dollar Equivalent Amount of the aggregate amount of all Local Currency Loans (in the case of
clause (i) or (ii) above) or the Affected Local Currency Loans (in the case of clause (iii) above),
and the procedures set forth in subsection 2.2 shall be followed in making such Committed Rate ABR
Loans. The proceeds of such Committed Rate ABR Loans shall be applied to repay such Local Currency
Loans.

          (b) If, for any reason, Committed Rate ABR Loans may not be made pursuant to paragraph (a) of
this subsection 6.3 to repay Local Currency Loans as required by such paragraph, effective on the
date such Committed Rate ABR Loans would otherwise have been made, (i) the principal amount of each
relevant Local Currency Loan shall be converted into Dollars (calculated on the basis of the
Exchange Rate as of the immediately preceding Business Day) (“Converted Local Currency
Loans”) and (ii) each Bank severally, unconditionally and irrevocably agrees that it shall
purchase in Dollars a participating interest in such Converted Local Currency Loans in an amount
equal to the amount of Committed Rate ABR Loans which would otherwise have been made by such Bank
pursuant to paragraph (a) of this subsection 6.3. Each Bank will immediately transfer to the
Administrative Agent, in immediately available funds, the amount of its participation, and the
proceeds of such participation shall be distributed by the Administrative Agent to each relevant
Local Currency Bank in such amount as will reduce the amount of the participating interest retained
by such Local Currency Bank in the Converted Local Currency Loans to the amount of the Committed
Rate ABR Loans which were to have been made by it pursuant to paragraph (a) of this subsection 6.3.
All Converted Local Currency Loans shall bear interest at the rate which would otherwise be
applicable to Committed Rate ABR Loans. Each Bank shall share on a pro rata basis
(calculated by reference to its
participating interest in such Converted Local Currency Loans) in any interest which accrues
thereon and in all repayments thereof.

          (c) If, for any reason, Committed Rate ABR Loans may not be made pursuant to paragraph (a) of
this subsection 6.3 to repay Local Currency Loans as required by such paragraph and the principal
amount of any Local Currency Loans may not be converted into Dollars in the manner contemplated by
paragraph (b) of this subsection 6.3, (i) the Administrative Agent shall determine the Dollar
Equivalent Amount of such Local Currency Loans (calculated on the basis of the Exchange Rate
determined as of the Business Day immediately preceding the date on which Committed Rate ABR Loans
would otherwise have been made pursuant to said paragraph (a)) and (ii) effective on the date on
which Committed Rate ABR Loans would otherwise have been made pursuant to said paragraph (a), each
Bank severally, unconditionally and irrevocably agrees that it shall purchase in Dollars a
participating interest in such Local Currency Loans in an amount equal to the amount of Committed
Rate ABR Loans which would otherwise have been made by such Bank pursuant to paragraph (a) of

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this subsection 6.3. Each Bank will immediately transfer to the Administrative Agent, in immediately
available funds, the amount of its participation, and the proceeds of such participation shall be
distributed by the Administrative Agent to each relevant Local Currency Bank in such amount as will
reduce the Dollar Equivalent as of such date of the amount of the participating interest retained
by such Local Currency Bank in such Local Currency Loans to the amount of the Committed Rate ABR
Loans which were to have been made by it pursuant to paragraph (a) of this subsection 6.3. Each
Bank shall share on a pro rata basis (calculated by reference to its participating
interest in such Local Currency Loans) in any interest which accrues thereon, in all repayments of
principal thereof and in the benefits of any collateral furnished in respect thereof and the
proceeds of such collateral.

          (d) If any amount required to be paid by any Bank to any Local Currency Bank pursuant to this
subsection 6.3 in respect of any Local Currency Loan is not paid to such Local Currency Bank on the
date such payment is due from such Bank, such Bank shall pay to such Local Currency Bank on demand
an amount equal to the product of (i) such amount, times (ii) the daily average Federal funds rate,
as quoted by such Local Currency Bank during the period from and including the date such payment is
required to the date on which such payment is immediately available to the Local Currency Bank,
times (iii) a fraction the numerator of which is the number of days that elapse during such period
and the denominator of which is 360. A certificate of a Local Currency Bank submitted to any Bank
through the Administrative Agent with respect to any amounts owing under this subsection (d) shall
be conclusive in the absence of manifest error.

SECTION 7. THE TERM LOANS

          7.1 Term Commitments. Subject to the terms and conditions hereof, each Bank severally
agrees to make a term loan (a “Term Loan”; each Bank extending a Term Loan, a “Term
Bank”) to the Borrower on the Closing Date in an amount not to exceed the amount of the Term
Commitment of such Bank. The Term Loans may from time to time be Eurocurrency Loans (in one or
more Tranches) or ABR Loans, as determined by the Borrower and notified to the Administrative Agent
in accordance with Sections 7.2 and 8.12.

          7.2 Procedure for Term Loan Borrowing. The Borrower shall give the Administrative
Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 10:00
A.M., New York City time, one Business Day prior to the anticipated Closing Date) requesting that
the Term Banks make the Term Loans on the Closing Date and specifying the amount to be borrowed.
The Borrower may elect that all or a portion of the Term Loans made on the Closing Date bear
interest as provided in Section 8.14. Upon receipt of such notice the Administrative Agent shall
promptly notify each Term Bank thereof. Not later than 12:00 Noon, New York City time, on the
Closing Date each Term Bank shall make available to the Administrative Agent at the Funding Office
an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such
Term Bank. The Administrative Agent shall credit the account of the Borrower on the books of such
office of the Administrative Agent with the aggregate of the amounts made available to the
Administrative Agent by the Term Banks in immediately available funds.

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          7.3 Repayment of Term Loans. The Term Loans shall mature on the Term Loan Termination
Date.

SECTION 8. CERTAIN PROVISIONS APPLICABLE TO THE LOANS AND

LETTERS OF CREDIT

          8.1 Facility Fee; Utilization Fee; Other Fees; Other Payments.

          (a) The Company shall pay to the Administrative Agent for the account of each Bank holding a
Revolving Commitment a facility fee for the period from and including the Closing Date to, but
excluding, the Revolving Termination Date, computed at the Facility Fee Rate in effect from time to
time on the average daily amount of the Revolving Commitment (used and unused) of such Bank during
the period for which payment is made, payable quarterly in arrears on the last day of each March,
June, September and December and on the Revolving Termination Date or such earlier date on which
the Revolving Commitments shall terminate as provided herein, commencing on the first of such dates
to occur after the date hereof.

          (b) The Company shall pay (i) to the Administrative Agent for the account of each Bank holding
a Revolving Commitment a utilization fee of 0.10% per annum on such Bank’s Revolving Commitment
Percentage of the aggregate outstanding principal or face amount of Committed Rate Loans, Swing
Line Loans, Letters of Credit and Local Currency Loans for each day on which the Aggregate
Revolving Committed Outstandings are equal to or exceed 50% of the aggregate Revolving Commitments
and (ii) to the applicable Issuing Bank for its own account a fronting fee of 0.125% per annum on
the undrawn and unexpired amount of each Letter of Credit, in each case payable quarterly in
arrears on the last day of each March, June, September and December and on the Revolving
Termination Date or such earlier date on
which the Revolving Commitments shall terminate as provided herein, commencing on the first of
such dates to occur after the date hereof or the issuance date, as relevant.

          (c) The Company agrees to pay to the Administrative Agent, for its own account and for the
account of the Arranger, the fees in the amounts and on the dates agreed to by such parties in
writing prior to the date of this Agreement.

          8.2 Computation of Interest and Fees.

          (a) Facility and utilization fees and, whenever it is calculated on the basis of the Prime
Rate, interest shall be calculated on the basis of a 365- (or 366-, as the case may be) day year
for the actual days elapsed; and, otherwise, interest and Letter of Credit commissions shall be
calculated on the basis of a 360-day year for the actual days elapsed. The Administrative Agent
shall as soon as practicable notify the relevant Specified Borrower and the Banks of each
determination of a Eurocurrency Rate. Any change in the ABR due to a change in the Prime Rate, the
Base CD Rate or the Federal Funds Effective Rate shall be effective as of the opening of business
on the effective day of such change in the Prime Rate, the Base CD Rate or the Federal Funds
Effective Rate, respectively. The Administrative Agent shall as soon as practicable notify the
relevant Borrower and the Banks of the effective date and the amount of each such change in
interest rate.

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          (b) Each determination of an interest rate by the Administrative Agent pursuant to any
provision of this Agreement shall be conclusive and binding on the Borrowers and the Banks in the
absence of manifest error.

          8.3 Pro Rata Treatment and Payments.

          (a) Each payment by the Company on account of any facility fee or utilization fee hereunder
and any reduction of the Revolving Commitments of the Banks shall be made pro rata according to the
respective Revolving Commitment Percentages of the Banks. Each disbursement of Committed Rate
Loans in any Currency shall be made by the Banks holding Revolving Commitments in such Currency pro
rata according to the respective Revolving Borrowing Percentages of such Banks. Each disbursement
of Term Loans shall be made by the Banks holding Term Commitments pro rata according to the
respective Term Percentages of such Banks. Each payment (including each prepayment) by any
Borrower on account of principal of and interest on any Loans in any Currency shall be made pro
rata according to the respective principal amounts of the Loans of such Currency of such Borrower
then due and owing to the Banks. All payments (including prepayments) to be made by any Borrower
hereunder, whether on account of principal, interest, fees, Reimbursement Obligations or otherwise,
shall be made without set off or counterclaim. All payments in respect of Term Loans, Committed
Rate Loans or Letters of Credit in any Currency shall be made in such Currency and in immediately
available funds at the Payment Office, and at or prior to the Payment Time, for such Type of Loans
and such Currency, on the due date thereof. The Administrative Agent shall distribute to the Banks
any payments received by the Administrative
Agent promptly upon receipt in like funds as received. If any payment hereunder becomes due
and payable on a day other than a Business Day, such payment shall be extended to the next
succeeding Business Day, and, with respect to payments of principal, interest thereon shall be
payable at the then applicable rate during such extension.

          (b) Unless the Administrative Agent shall have been notified in writing by any Bank prior to a
Borrowing Date in respect of Term Loan or Committed Rate Loans that such Bank will not make the
amount that would constitute its Revolving Borrowing Percentage or Term Percentage, as applicable,
of such borrowing available to the Administrative Agent, the Administrative Agent may assume that
such Bank is making such amount available to the Administrative Agent, and the Administrative Agent
may, in reliance upon such assumption, make available to the relevant Borrower a corresponding
amount. If such amount is not made available to the Administrative Agent by the required time on
the Borrowing Date therefor, such Bank shall pay to the Administrative Agent, on demand, such
amount with interest thereon at a rate equal to (A) in the case of any such Term Loans or Committed
Rate Loans denominated in Dollars, the daily average Federal funds rate, as quoted by the
Administrative Agent, or (B) in the case of any Committed Rate Loans denominated in an Available
Foreign Currency, the rate customary in such Currency for settlement of similar inter-bank
obligations, as quoted by the Administrative Agent, in each case for the period until such Bank
makes such amount immediately available to the Administrative Agent. A certificate of the
Administrative Agent submitted to any Bank with respect to any amounts owing under this subsection
shall be conclusive in the absence of manifest error. If such Bank’s Revolving Borrowing
Percentage or Term Percentage, as applicable, of such borrowing is not made available to the
Administrative Agent by such Bank within three Business Days of such Borrowing Date, the
Administrative

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Agent shall also be entitled to recover such amount with interest thereon at the
rate per annum applicable to Swing Line Loans in such Currency hereunder, on demand, from the
relevant Borrower.

          8.4 Illegality. Notwithstanding any other provision herein, if the adoption of or any
change in any Requirement of Law or in the interpretation thereof by any Governmental Authority
charged with the administration or interpretation thereof shall make it unlawful for any Bank to
make or maintain Loans or to make or maintain Extensions of Credit to one or more Foreign
Subsidiary Borrowers or Local Currency Borrowers contemplated by this Agreement, the commitment of
such Bank hereunder to make Loans to such Foreign Subsidiary Borrowers or Local Currency Borrowers,
continue Loans to such Foreign Subsidiary Borrowers or Local Currency Borrowers as such, and
maintain Extensions of Credit to such Foreign Subsidiary Borrowers or Local Currency Borrowers
shall forthwith be cancelled to the extent necessary to remedy or prevent such illegality. Nothing
in this subsection 8.4 shall affect the obligation of the Banks to make and maintain Loans to the
Company.

          8.5 Requirements of Law.

          (a) If the adoption of or any change in any Requirement of Law (other than the Certificate of
Incorporation and By-Laws or other organizational or governing documents of the Banks) or in the
interpretation or application thereof or compliance by any Bank or Issuing Bank
with any request or directive (whether or not having the force of law) from any central bank
or other Governmental Authority made subsequent to the date hereof:

          (i) shall subject any Bank or Issuing Bank or any corporation controlling such
Bank or from which such Bank obtains funding or credit to any tax of any kind
whatsoever with respect to this Agreement, any Letter of Credit or any Eurocurrency
Loan or Local Currency Loan made by it, or change the basis of taxation of payments
to such Bank or such corporation in respect thereof (except for Non-Excluded Taxes
covered by subsection 8.6 (including taxes excluded under the first sentence of
subsection 8.6(a)) and changes in the rate of tax on the overall net income of such
Bank or Issuing Bank or such corporation);

          (ii) shall impose, modify or hold applicable any reserve, special deposit,
deposit insurance, compulsory loan or similar requirement against assets held by,
deposits or other liabilities in or for the account of, advances, loans or other
extensions of credit by, or any other acquisition of funds by, any office of such
Bank or Issuing Bank or any corporation controlling such Bank or Issuing Bank or
from which such Bank obtains funding or credit which is not otherwise included in
the determination of the Eurocurrency Rate hereunder or the interest rate on such
Local Currency Loans under the relevant Local Currency Facility; or

          (iii) shall impose on such Bank or Issuing Bank or any corporation controlling
such Bank any other condition;

and the result of any of the foregoing is to increase the cost to such Bank or Issuing Bank or such
corporation, by an amount which such Bank or Issuing Bank or such corporation deems to be

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material, of making, converting into, continuing or maintaining Eurocurrency Loans or Local
Currency Loans or issuing or participating in Letters of Credit or to reduce any amount receivable
hereunder in respect thereof, then, in any such case, the Company shall promptly pay such Bank or
Issuing Bank, within five Business Days after its demand, any additional amounts necessary to
compensate such Bank or Issuing Bank for such increased cost or reduced amount receivable, together
with interest on each such amount from the date due until payment in full at a rate per annum equal
to the ABR plus 2%. If any Bank or Issuing Bank becomes entitled to claim any additional amounts
pursuant to this subsection, it shall promptly notify the Company, through the Administrative
Agent, of the event by reason of which it has become so entitled. A certificate as to any
additional amounts payable pursuant to this subsection submitted by such Bank or Issuing Bank,
through the Administrative Agent, to the Company shall be conclusive in the absence of manifest
error. This covenant shall survive the termination of this Agreement and the payment of Loans and
all other amounts payable hereunder.

          (b) If any Bank shall have determined that the adoption of or any change in any Requirement
of Law regarding capital adequacy or in the interpretation or application thereof or compliance by
such Bank or any corporation controlling such Bank or Issuing Bank with any request or directive
regarding capital adequacy (whether or not having the force of law) from any Governmental Authority
made subsequent to the date hereof does or shall have the effect of reducing the rate of return on
such Bank’s or Issuing Bank or such corporation’s capital as a consequence of its obligations
hereunder or under any Letter of Credit to a level below that which such Bank or Issuing Bank or
such corporation could have achieved but for such change or compliance (taking into consideration
such Bank’s or Issuing Bank or such corporation’s policies with respect to capital adequacy) by an
amount deemed by such Bank or Issuing Bank to be material, then from time to time, after submission
by such Bank or Issuing Bank to the Company (with a copy to the Administrative Agent) of a written
request therefor (which written request shall be conclusive in the absence of manifest error), the
Company shall pay to such Bank or Issuing Bank such additional amount or amounts as will compensate
such Bank or Issuing Bank for such reduction.

          (c) In addition to, and without duplication of, amounts which may become payable from time to
time pursuant to paragraphs (a) and (b) of this subsection 8.5, each Borrower agrees to pay to each
Bank which requests compensation under this paragraph (c) by notice to such Borrower, on the last
day of each Interest Period with respect to any Committed Rate Eurocurrency Loan made by such Bank
to such Borrower, at any time when such Bank shall be required to maintain reserves against
“Eurocurrency liabilities” under Regulation D of the Board (or, at any time when such Bank may be
required by the Board or by any other Governmental Authority, whether within the United States or
in another relevant jurisdiction, to maintain reserves against any other category of liabilities
which includes deposits by reference to which the Eurocurrency Rate is determined as provided in
this Agreement or against any category of extensions of credit or other assets of such Bank which
includes any such Committed Rate Eurocurrency Loans), an additional amount (determined by such
Bank’s calculation or, if an accurate calculation is impracticable, reasonable estimate using such
reasonable means of allocation as such Bank shall determine) equal to the actual costs, if any,
incurred by such Bank during such Interest Period as a result of the applicability of the foregoing
reserves to such Committed Rate Eurocurrency Loans.

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          (d) A certificate of each Bank, Issuing Bank, Swing Line Bank or Local Currency Bank setting
forth such amount or amounts as shall be necessary to compensate such Bank, Issuing Bank, Swing
Line Bank or Local Currency Bank as specified in paragraph (a), (b) or (c) above, as the case may
be, and setting forth in reasonable detail an explanation of the basis of requesting such
compensation in accordance with paragraph (a), (b) or (c) above, including calculations in detail
comparable to the detail set forth in certificates delivered to such Bank in similar circumstances
under comparable provisions of other comparable credit agreements, shall be delivered to the
relevant Borrower and shall be conclusive absent manifest error. The relevant Borrower shall pay
each Bank, Issuing Bank, Swing Line Bank or Local Currency Bank the amount shown as due on any such
certificate delivered to it within 10 days after its receipt of the same.

          (e) Failure or delay on the part of any Bank or the Issuing Bank to demand compensation
pursuant to this subsection shall not constitute a waiver of such Bank’s or the Issuing Bank’s
right to demand such compensation; provided that the Company shall not be required to
compensate a Bank or the Issuing Bank pursuant to this subsection for any increased costs or
reductions incurred more than six months prior to the date that such Bank or the Issuing Bank, as
the case may be, notifies the Company of the event giving rise to such increased costs or
reductions and of such Bank’s or the Issuing Bank’s intention to claim compensation therefor;
provided further that, if the event giving rise to such increased costs or
reductions is retroactive, then the six-month period referred to above shall be extended to include
the period of retroactive effect thereof.

          (f) Notwithstanding the foregoing provisions of this subsection, a Bank shall not be entitled
to compensation pursuant to this subsection in respect of any Competitive Advance Loan if the event
that would otherwise entitle it to such compensation shall have been publicly announced prior to
submission of the Competitive Advance Loan Offer pursuant to which such Loan was made.

          (g) The agreements in this subsection shall survive the termination of this Agreement and the
payment of the Loans and all other amounts payable hereunder.

          8.6 Taxes.

          (a) All payments made by any Borrower under this Agreement shall be made free and clear of,
and without deduction or withholding for or on account of, any present or future income, stamp or
other taxes, levies, imposts, duties, charges, fees, deductions or withholdings, now or hereafter
imposed, levied, collected, withheld or assessed by any Governmental Authority, excluding, in the
case of the Administrative Agent and each Bank, (i) net income taxes, capital taxes, doing business
taxes and franchise taxes imposed on the Administrative Agent or such Bank (including, without
limitation, each Bank in its capacity as an Issuing Bank or as a Swing Line Bank), as the case may
be, as a result of a present or former connection between the jurisdiction of the government or
taxing authority imposing such tax and the Administrative Agent or such Bank (excluding a
connection arising solely from the Administrative Agent or such Bank having executed, delivered or
performed its obligations or
received a payment under, or enforced, this Agreement) or any political subdivision or taxing
authority thereof or therein, (ii) taxes required to be withheld because of a failure to deliver
any

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certificate described in this subsection 8.6 for any reason and (iii) any and all withholding
taxes payable with respect to payments under this Agreement made by the Company or by any
Subsidiary Borrower that was organized under the laws of the United States, other than any such
withholding taxes imposed as a result of any change in or amendment to the laws of any jurisdiction
affecting taxation (including any regulation or ruling proposed or promulgated by a taxing
authority thereof and any treaty provisions) or any change in the official application, enforcement
or interpretation of such laws, regulations, rulings or treaties or any other action taken by a
taxing authority or a court of competent jurisdiction, which change, amendment, application,
enforcement, interpretation or action becomes effective after the date hereof (all such
non-excluded taxes, levies, imposts, duties, charges, fees, deductions and withholdings being
hereinafter called “Non-Excluded Taxes”). If any Non-Excluded Taxes are required to be
withheld from any amounts payable to the Administrative Agent or any Bank hereunder, the amounts so
payable to the Administrative Agent or such Bank shall be increased to the extent necessary to
yield to the Administrative Agent or such Bank (after payment of all Non-Excluded Taxes) interest
or any such other amounts payable hereunder at the rates or in the amounts specified in this
Agreement. Whenever any Non-Excluded Taxes are payable by any Borrower, as promptly as possible
thereafter such Borrower shall send to the Administrative Agent for its own account or for the
account of such Bank, as the case may be, a certified copy of an original official receipt received
by such Borrower showing payment thereof. If such Borrower fails to pay any Non-Excluded Taxes
when due to the appropriate taxing authority or fails to remit to the Administrative Agent the
required receipts or other required documentary evidence, such Borrower shall indemnify the
Administrative Agent and such Bank for any incremental taxes, interest or penalties that may become
payable by the Administrative Agent or such Bank as a result of any such failure. The agreements
in this subsection 8.6(a) shall survive the termination of this Agreement and the payment of the
Loans and all other amounts payable hereunder.

     (b) (i) Each Bank (including each Assignee) that is not incorporated under the laws of
the United States of America or a state thereof agrees that it will deliver to the Company
and the Administrative Agent concurrently with the delivery of this Agreement (or, in the
case of any Assignee, concurrently with the delivery of an Assignment and Acceptance) two
duly completed copies of (x) United States Internal Revenue Service Form W-8BEN or W-8ECI or
successor applicable form, as the case may be, and (y) an Internal Revenue Service Form
W-8BEN or W-9 or successor applicable form, as the case may be. Each such Bank also agrees
to deliver to the Company and the Administrative Agent two further copies of the said Form
W-8BEN or W-8ECI and Form W-8BEN or W-9, or successor applicable forms or other manner of
certification, as the case may be, on or before the date that any such form expires or
becomes obsolete or after the occurrence of any event (including, without limitation, a
change in such Bank’s lending office) requiring a change in the most recent form previously
delivered by it to the Company and the Administrative Agent, and such extensions or renewals
thereof as may reasonably be requested by the Company or the Administrative Agent, unless in
any such case an event (including, without limitation, any change in treaty, law or
regulation) has occurred prior to the date on which any such delivery would otherwise be
required which renders all such forms inapplicable or which would prevent such Bank from
duly completing and delivering any such form with respect to it and such Bank so advises the
Company and the Administrative Agent. Such Bank shall certify (x) in the case of a
Form W-8BEN or W-8ECI, that it is entitled to receive payments under this Agreement

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without
deduction or withholding of any United States federal income taxes and (y) in the case of a
Form W-8BEN or W-9, that it is entitled to an exemption from United States backup
withholding tax.

     (ii) Upon the written request of any Borrower, each Bank promptly will provide to such
Borrower and to the Administrative Agent, or file with the relevant taxing authority (with a
copy to the Administrative Agent) such form, certification or similar documentation (each
duly completed, accurate and signed) as is required by the relevant jurisdiction in order to
obtain an exemption from, or reduced rate of Non-Excluded Taxes to which such Bank or the
Administrative Agent is entitled pursuant to an applicable tax treaty or the law of the
relevant jurisdiction; provided, however, such Bank will not be required to
(x) disclose information which in its reasonable judgment it deems confidential or
proprietary or (y) incur a cost if such cost would, in its reasonable judgment, be
substantial in comparison to the cost of the Borrower under this subsection 8.6 of such
Bank’s failure to provide such form, certification or similar documentation. Such Bank
shall certify in the case of any such form, certification or similar documentation so
provided (to the extent it may accurately and properly do so) that it is entitled to receive
payments under this Agreement without deduction or withholding, or at a reduced rate of
deduction or withholding of Non-Excluded Taxes.

     (iii) A Bank shall be required to furnish a form under this paragraph (b) only if it
is entitled to claim an exemption from or a reduced rate of withholding under applicable
law. A Bank that is not entitled to claim an exemption from or a reduced rate of
withholding under applicable law, promptly upon written request of the applicable Borrower,
shall inform the applicable Borrower in writing.

               (c) If any Bank is, in its sole opinion, able to apply for any tax credit, tax deduction or
other reduction in tax (a “Tax Benefit”) by reason of any increased amount paid by the
Company under this subsection 8.6, such Bank will use reasonable efforts to obtain such Tax Benefit
and, upon receipt thereof will pay to the Company such amount, not exceeding the increased amount
paid by the Company, as it considers, in its sole opinion, to be equal to the net after-tax value
to such Bank of the Tax Benefit or such part thereof allocable to such withholding or deduction,
having regard to all of such Bank’s dealings giving rise to similar credits and to the cost of
obtaining the same, less any and all expenses incurred by such Bank in obtaining such Tax Benefit
(including any and all professional fees incurred therewith); provided, however,
that (i) no Bank shall be obligated by this subsection 8.6 to disclose to the Company any
information regarding its tax affairs or computations, (ii) nothing in this subsection 8.6 shall
interfere with the right of each Bank to arrange its tax affairs as it deems appropriate and (iii)
nothing in this subsection 8.6 shall impose an obligation on a Bank to obtain any Tax Benefit if,
in such Bank’s sole opinion, to do so would (x) impose undue hardships, burdens or expenditures on
such Bank or (y) increase such Bank’s exposure to taxation by the jurisdiction in question.

               8.7 Company’s Options upon Claims for Increased Costs and Taxes. In the event that any Affected Bank shall decline to make Loans pursuant to subsection 8.4
or shall have notified the Company that it is entitled to claim compensation pursuant to subsection
8.5 or 8.6, the Company may exercise any one or both of the following options:

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          (a) The Company may request one or more of the Banks which are not Affected Banks to take over
all (but not part) of any Affected Banks’ then outstanding Loans and to assume all (but not part)
of any Affected Bank’s Commitments, if any, and obligations hereunder, and if applicable, under any
Local Currency Facility. If one or more Banks shall so agree in writing (collectively, the
“Assenting Banks”; individually, an “Assenting Bank”) with respect to an Affected
Bank, (i) the Commitments, if any, of each Assenting Bank and the obligations of such Assenting
Bank under this Agreement shall be increased by its respective Allocable Share of the Commitments,
if any, and of the obligations of such Affected Bank under this Agreement and if applicable, under
any Local Currency Facility and (ii) each Assenting Bank shall make Loans to the Company, according
to such Assenting Bank’s respective Allocable Share, in an aggregate principal amount equal to the
outstanding principal amount of the Loans and, if applicable, Local Currency Loans, of such
Affected Bank, on a date mutually acceptable to the Assenting Banks, such Affected Bank and the
Company. The proceeds of such Loans, together with funds of the Company, shall be used to prepay
the Loans, and if applicable, Local Currency Loans, of such Affected Bank, together with all
interest accrued thereon and all other amounts owing to such Affected Bank hereunder (including any
amounts payable pursuant to subsection 8.8 in connection with such prepayment), and, upon such
assumption by the Assenting Bank and prepayment by the Company, such Affected Bank shall cease to
be a “Bank” for purposes of this Agreement and shall no longer have any obligations or rights
hereunder (other than any obligations or rights which according to this Agreement shall survive the
termination of this Agreement).

          (b) The Company may designate a Replacement Bank to assume the Commitments, if any, and the
obligations of any such Affected Bank hereunder and if applicable, under any Local Currency
Facility, and to purchase the outstanding Loans of such Affected Bank and such Affected Bank’s
rights hereunder and with respect thereto, without recourse upon, or warranty by, or expense to,
such Affected Bank (unless such Affected Bank agrees otherwise), for a purchase price equal to the
outstanding principal amount of the Loans and, if applicable, Local Currency Loans, of such
Affected Bank plus (i) all interest accrued and unpaid thereon and all other amounts owing to such
Affected Bank hereunder and (ii) any amount which would be payable to such Affected Bank pursuant
to subsection 8.8, and upon such assumption and purchase by the Replacement Bank, such Replacement
Bank, if it is not already a Bank, shall be deemed to be a “Bank” for purposes of this Agreement
and such Affected Bank shall cease to be a “Bank” for purposes of this Agreement and shall no
longer have any obligations or rights hereunder (other than any obligations or rights which
according to this Agreement shall survive the termination of this Agreement).

          8.8 Break Funding Payments. In the event of (a) the payment of any principal of any
Eurocurrency Loan or Committed Rate Loan other than on the last day of an Interest Period therefor
(including as a result of an Event of Default and as a result of the provisions of subsection 2.11
or 2.12), (b) the
conversion of any Eurocurrency Loan other than on the last day of an Interest Period therefor,
(c) the failure to borrow, convert, continue or prepay any Loan on the date specified in any notice
delivered pursuant hereto (regardless of whether such notice is permitted to be revocable hereunder
and is revoked in accordance herewith), (d) the failure to borrow any Competitive Advance Loan
after accepting the Competitive Advance Loan Offer to make such Loan, or (e) the assignment as a
result of a request by the Company pursuant to subsection 8.7 of any Eurocurrency Loan other than
on the last day of an Interest Period therefor

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or of any Competitive Advance Loan, then, in any
such event, the Company shall compensate each Bank for the loss, cost and expense attributable to
such event. In the case of a Eurocurrency Loan, the loss to any Bank attributable to any such
event shall be deemed to include an amount determined by such Bank to be equal to the excess, if
any, of (i) the amount of interest that such Bank would pay for a deposit equal to the principal
amount of such Bank denominated in the Currency of such Loan for the period from the date of such
payment, conversion, failure or assignment to the last day of the then current Interest Period for
such Loan (or, in the case of a failure to borrow, convert or continue, the duration of the
Interest Period that would have resulted from such borrowing, conversion or continuation) if the
interest rate payable on such deposit were equal to the Eurocurrency Rate for such Currency for
such Interest Period, over (ii) the amount of interest that such Bank would earn on such
principal amount for such period if such Bank were to invest such principal amount for such period
at the interest rate that would be bid by such Bank (or an affiliate of such Bank) for deposits
denominated in such Currency from other banks in the eurocurrency market at the commencement of
such period. The Company shall also compensate each relevant Bank for any loss, cost or expense
suffered by such Bank as a result of the conversion, pursuant to subsection 2.11(b) or 7.3(b), of
the Currency in which a Loan is denominated, or the purchase or sale, pursuant to subsection
2.11(c) or 7.3(c), of a participating interest in any Loan. A certificate of any Bank setting
forth any amount or amounts that such Bank is entitled to receive pursuant to this Section shall be
delivered to the Company and shall be conclusive absent manifest error. The Company shall pay such
Bank the amount shown as due on any such certificate within 10 days after receipt thereof.

          8.9 Determinations. In making the determinations contemplated by subsection 8.5, 8.6
and 8.8, each Bank may make such estimates, assumptions, allocations and the like that such Bank in
good faith determines to be appropriate. Upon request of the Company, each Bank shall furnish to
the Company, at any time after demand for payment of an amount under subsection 8.5(a) or 8.8, a
certificate outlining in reasonable detail the computation of any amounts owing. Any certificate
furnished by a Bank shall be binding and conclusive in the absence of manifest error.

          8.10 Change of Lending Office. If an event occurs with respect to any Bank that
makes operable the provisions of subsection 8.4 or entitles such Bank to make a claim under
subsection 8.5 or 8.6, such Bank shall, if requested in writing by the Company, to the extent not
inconsistent with such Bank’s internal policies, use reasonable efforts to (a) designate another
office or offices for the making and maintaining of its Loans or (b) obtain a different source of
funds or credit, as the case may be, the designation or obtaining of which will eliminate such
operability or reduce materially the amount such Bank is so entitled to claim, provided
that such designation or obtaining would not,
in the sole discretion of such Bank, result in such Bank incurring any costs unless the
Company has agreed to reimburse such Bank therefor.

          8.11 Company Controls on Exposure; Calculation of Exposure; Prepayment if Exposure exceeds
Revolving Commitments.

          (a) The Company will implement and maintain internal accounting controls to monitor the
borrowings and repayments of Revolving Loans by the Borrowers and the issuance of and drawings
under Letters of Credit, with the object of preventing any request for an Extension of Credit that
would result in (i) the Exposure of the Banks being in excess of the

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Revolving Commitments, or (ii)
the Foreign Currency Exposure in respect of any Currency exceeding the Foreign Currency Exposure
Sublimit for such Currency, and of promptly identifying and remedying any circumstance where, by
reason of changes in exchange rates, (i) the aggregate amount of the Exposure exceeds the Revolving
Commitments, or (ii) the amount of the Foreign Currency Exposure in respect of any Currency exceeds
the Foreign Currency Exposure Sublimit for such Currency. In the event that at any time the
Company determines that (i) the aggregate amount of the Exposure of the Banks exceeds the aggregate
amount of the Revolving Commitments by more than 5%, or (ii) the amount of the Foreign Currency
Exposure in respect of any Currency exceeds the Foreign Currency Exposure Sublimit for such
Currency, the Company will, as soon as practicable but in any event within five Business Days of
making such determination, make or cause to be made such repayments or prepayments of Revolving
Loans as shall be necessary to cause (i) the aggregate amount of the Exposure of the Banks to no
longer exceed the Revolving Commitments, and (ii) the amount of the Foreign Currency Exposure in
respect of any Currency not to exceed the Foreign Currency Exposure Sublimit for such Currency.

          (b) The Administrative Agent will calculate the aggregate amount of the Exposure of the Banks
from time to time, and in any event not less frequently than once during each calendar month. In
making such calculations, the Administrative Agent will rely on the information most recently
received by it from the Swing Line Banks in respect of outstanding Swing Line Loans, from Banks in
respect of outstanding Competitive Advance Loans, from Local Currency Facility Agents in respect of
outstanding Local Currency Loans and Issuing Banks in respect of L/C Obligations. Upon making each
such calculation, the Administrative Agent will inform the Company and the Banks of the results
thereof.

          (c) In the event that on any date the Administrative Agent calculates that (i) the aggregate
amount of the Exposure of the Banks exceeds the aggregate amount of the Revolving Commitments by
more than 5%, or (ii) the Foreign Currency Exposure in respect of any Currency exceeds the Foreign
Currency Exposure Sublimit for such Currency, the Administrative Agent will give notice to such
effect to the Company. After receipt of any such notice, the Company will, as soon as practicable
but in any event within five Business Days of receipt of such notice, make or cause to be made such
repayments or prepayments of Loans as shall be necessary to cause (i) the aggregate amount of the
Exposure of the Banks to no longer
exceed the Revolving Commitments, or (ii) the Foreign Currency Exposure in any respect of any
Currency not to exceed the Foreign Currency Exposure Sublimit for such Currency.

          (d) If at any time the Committed Exposure of any Bank exceeds such Bank’s Revolving
Commitment, upon demand of such Bank, the Company will within one Business Day prepay Revolving
Loans in such amounts that after giving effect to such prepayment the Committed Exposure of such
Bank does not exceed its Revolving Commitment.

          (e) Any prepayment required to be made pursuant to this subsection 8.11 shall be accompanied
by payment of amounts payable, if any, pursuant to subsection 8.8 in respect of the amount so
prepaid.

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          8.12 Conversion and Continuation Options.

          (a) By giving a Notice of Conversion, any Specified Borrower may elect from time to time (i)
to convert such Specified Borrower’s Eurocurrency Loans in Dollars to ABR Loans or (ii) to convert
such Specified Borrower’s ABR Loans to Eurocurrency Loans in Dollars. Upon receipt of any Notice
of Conversion the Administrative Agent shall promptly notify each relevant Bank thereof. All or
any part of Eurocurrency Loans outstanding in Dollars or ABR Loans may be converted as provided
herein, provided that (i) no ABR Loan may be converted into a Eurocurrency Loan when any
Event of Default has occurred and is continuing and the Administrative Agent has or the Required
Banks have determined that such a conversion is not appropriate and (ii) no ABR Loan may be
converted into a Eurocurrency Loan after the date that is one month prior to the relevant
Termination Date.

          (b) By giving a Notice of Continuation, any Specified Borrower may continue all or any part
of such Specified Borrower’s Eurocurrency Loans as Eurocurrency Loans in the same Currency for one
or more different additional Interest Periods.

          (c) Any Specified Borrower may convert Committed Rate Loans outstanding in Dollars or one
Available Foreign Currency to Committed Rate Loans in Dollars or a different Currency by repaying
such Loans in the first Currency and borrowing Loans of such different Currency in accordance with
the applicable provisions of this Agreement.

          (d) If any Specified Borrower shall fail to timely give a Notice of Continuation or a Notice
of Conversion in respect of any of such Specified Borrower’s Eurocurrency Loans with respect to
which an Interest Period is expiring, such Specified Borrower shall be deemed to have given a
Notice of Continuation for an Interest Period of one month.

          8.13 Minimum Amounts of Tranches. All borrowings, conversions and continuations of
Term Loans and Committed Rate Loans and all selections of Interest Periods shall be in such amounts
and be made pursuant to such elections so that, after giving effect thereto, the aggregate
principal amount of (i) in the case of Eurocurrency Loans, the Term Loans or Committed Rate Loans
comprising each Tranche in Dollars shall be not less than $5,000,000, (ii) in the case of ABR
Loans, the Term Loans or
Committed Rate Loans comprising each Tranche in Dollars shall not be less than $1,000,000 and
(iii) Committed Rate Loans comprising each Tranche in any Available Foreign Currency shall be not
less than the Dollar Equivalent Amount in such Currency of $5,000,000; provided that any
borrowing of Committed Rate Loans may be in an aggregate amount that is equal to the entire unused
balance of the Total Revolving Commitments.

          8.14 Interest Rates and Payment Dates for Term Loans and Committed Rate Loans.

          (a) Each Eurocurrency Loan shall bear interest for each day during each Interest Period with
respect thereto at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus
the Applicable Margin.

          (b) Each ABR Loan shall bear interest at a rate per annum equal to the ABR plus the
Applicable Margin.

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               (c) If all or a portion of (i) the principal amount of any Term Loan or Committed Rate Loan
or (ii) any interest payable thereon shall not be paid when due (whether at the stated maturity, by
acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is
(x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant
to the foregoing provisions of this subsection plus 2% or (y) in the case of overdue interest, the
rate described in paragraph (b) of this subsection plus 2%, in each case from the date of such
non-payment until such amount is paid in full (as well after as before judgment).

               (d) Interest on Term Loans and Committed Rate Loans shall be payable in arrears on each
Interest Payment Date; provided, that interest accruing pursuant to paragraph (c) of this
subsection shall be payable from time to time on demand.

          8.15 Inability to Determine Interest Rate. If on or prior to the date on which the
Eurocurrency Rate is determined for any Interest Period in respect of any Eurocurrency Loan in any
Currency:

     (a) the Administrative Agent shall have determined (which determination shall be
conclusive absent manifest error) that, by reason of circumstances affecting the relevant
market generally, adequate and reasonable means do not exist for ascertaining the
Eurocurrency Rate for such affected Currency or such affected Interest Period, or

     (b) the Administrative Agent shall have received notice from Banks having Commitments
comprising at least 25% of the aggregate amount of the Commitments (or, in the case of Loans
denominated in an Available Foreign Currency, Banks having at least 25% of the Foreign
Currency Commitments in such Available Foreign Currency) that the Eurocurrency Rate
determined or to be determined for such affected Interest Period will not adequately and
fairly reflect the cost to such Banks (as conclusively certified by such Banks) of making or
maintaining their affected Term Loans or Committed Rate Loans during such affected Interest
Period,

the Administrative Agent shall give telecopy or telephonic notice thereof to the Company and the
Banks as soon as practicable thereafter. If such notice is given (x) any Eurocurrency Loans
requested to be made in such affected Currency on the first day of such affected Interest Period
shall be made as ABR Loans in Dollars in the Dollar Equivalent Amount, (y) any Term Loans or
Committed Rate Loans that were to have been converted on the first day of such affected Interest
Period from ABR Loans to Eurocurrency Loans shall be continued as ABR Loans and (z) any
Eurocurrency Loans in such affected Currency that were to have been continued as such shall be
converted, on the first day of such Interest Period, to ABR Loans in Dollars in the Dollar
Equivalent Amount. Until such notice has been withdrawn by the Administrative Agent, no further
Eurocurrency Loans in such affected Currency shall be made, converted to or continued as such.

               8.16 Optional Prepayments. By giving a Notice of Prepayment, any Specified Borrower
may, at any time and from time to time, prepay the Term Loans or Committed Rate Loans made to such
Specified Borrower, in whole or in part, without premium or penalty (except as provided in
subsection 8.8). Upon receipt of any such notice the Administrative Agent shall promptly notify
each relevant Bank thereof. If any such notice is given, the amount specified in

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such notice shall
be due and payable on the date specified therein, together with any amounts payable pursuant to
subsection 8.8. Partial prepayments shall be in an aggregate principal amount of $1,000,000 or a
whole multiple of $500,000 in excess thereof or an aggregate principal Dollar Equivalent Amount of
at least $1,000,000 for Loans denominated in a Foreign Currency.

SECTION 9. REPRESENTATIONS AND WARRANTIES

          To induce the Syndication Agents, the Administrative Agent and the Banks to enter into this
Agreement and to make the Loans and issue or participate in the Letters of Credit, the Company and
each Subsidiary Borrower (insofar as the representations and warranties by such Subsidiary Borrower
relate to it) hereby represents and warrants to each Agent, the Administrative Agent and each Bank
that:

          9.1 Financial Condition. The audited consolidated balance sheets of the Company and
its consolidated Subsidiaries as at December 31, 2005 and the related consolidated statements of
income and of cash flows for the fiscal year ended on such date, reported on by Ernst & Young LLP,
copies of which have heretofore been furnished to each Bank or will be furnished to each Bank that
has not already received such copies, present fairly the consolidated financial condition of the
Company and its consolidated Subsidiaries as at such date, and the consolidated results of their
operations and their consolidated cash flows for the fiscal year then ended. The unaudited
consolidating balance sheet of the Company and its consolidated Subsidiaries by geographic region
as at September 30, 2006 and the related unaudited consolidating statement of operations and
retained earnings for the portion of the fiscal year ended on September 30, 2006, present fairly
the consolidating financial condition of the Company and its consolidated Subsidiaries by
geographic region as at such date, and the consolidating results of their operations for the fiscal
year then ended. All such financial statements, including the related schedules and notes thereto,
have been prepared in accordance with GAAP applied consistently throughout the periods
involved (except as approved by such accountants or Responsible Officer, as the case may be, and as
disclosed therein). Neither the Company nor any of its consolidated Subsidiaries had, at the date
of the most recent balance sheet referred to above, any material Guarantee Obligation, contingent
liability or liability for taxes, or any long-term lease or unusual forward or long-term
commitment, including, without limitation, any interest rate or foreign currency swap or exchange
transaction, which is not reflected in the foregoing statements or referred to in the notes
thereto. During the period from September 30, 2006 to and including the date hereof there has been
no sale, transfer or other disposition by the Company or any of its consolidated Subsidiaries of
any material part of its business or property and no purchase or other acquisition of any business
or property (including any Capital Stock of any other Person) material in relation to the
consolidated financial condition of the Company and its consolidated Subsidiaries at September 30,
2006 except as disclosed in writing to the Banks prior to the Closing Date).

          9.2 No Change Since December 31, 2005 there has been no development or event which
has had or could reasonably be expected to have a Material Adverse Effect.

          9.3 Corporate Existence; Compliance with Law. The Company and each of its
Subsidiaries (a) is duly organized, validly existing and in good standing under the laws of the

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jurisdiction of its organization, (b) has the corporate or other power and authority, and the legal
right, to own and operate its property, to lease the property it operates as lessee and to conduct
the business in which it is currently engaged, (c) is duly qualified as a foreign corporation or
other entity and in good standing under the laws of each jurisdiction where its ownership, lease or
operation of property or the conduct of its business requires such qualification, except where the
failure to be duly qualified or in good standing could not reasonably be expected to have a
Material Adverse Effect, and (d) is in compliance with all Requirements of Law except to the extent
that the failure to comply therewith could not, in the aggregate, reasonably be expected to have a
Material Adverse Effect.

          9.4 Corporate Power; Authorization; Enforceable Obligations. Each of the Company and
its Subsidiaries has the corporate or other power and authority, and the legal right, to make,
deliver and perform the Credit Documents to which it is a party and to borrow hereunder and has
taken all necessary corporate action to authorize the borrowings on the terms and conditions of
this Agreement and the execution, delivery and performance of the Credit Documents to which it is a
party. No consent or authorization of, filing with, notice to or other act by or in respect of,
any Governmental Authority or any other Person is required in connection with the borrowings
hereunder or with the execution, delivery, performance, validity or enforceability of the Credit
Documents. This Agreement has been, and each other Credit Document to which the Company or any of
its Subsidiaries is a party will be, duly executed and delivered on behalf of the Company or such
Subsidiary, as the case may be. This Agreement constitutes, and each other Credit Document to
which it is a party when executed and delivered will constitute, a legal, valid and binding
obligation of the Company or any of its Subsidiaries party thereto enforceable against the Company
or such Subsidiary, as the
case may be, in accordance with its terms, except as enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the
enforcement of creditors’ rights generally and by general equitable principles (whether enforcement
is sought by proceedings in equity or at law).

          9.5 No Legal Bar. The execution, delivery and performance of the Credit Documents to
which the Company or any of its Subsidiaries is a party, the borrowings hereunder and the use of
the proceeds thereof will not violate any Requirement of Law or Contractual Obligation of the
Company or of any of its Subsidiaries (except for violations of Contractual Obligations which,
individually or in the aggregate, could not reasonably be expected to have a Material Adverse
Effect) and will not result in, or require, the creation or imposition of any Lien on any of its or
their respective properties or revenues pursuant to any such Requirement of Law or Contractual
Obligation, except for the Liens expressly permitted by subsection 12.3.

          9.6 No Material Litigation. No litigation, investigation or proceeding of or before
any arbitrator or Governmental Authority is pending or, to the knowledge of the Company, threatened
by or against the Company or any of its Subsidiaries or against any of its or their respective
properties or revenues with respect to any of the Credit Documents or any of the transactions
contemplated hereby or thereby.

          9.7 No Default. No Default or Event of Default has occurred and is continuing.

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          9.8 Ownership of Property; Liens. Each of the Company and its Subsidiaries has good
record and marketable title in fee simple to, or a valid leasehold interest in, all its real
property, and good title to, or a valid leasehold interest in, all its other property, except where
the failure to have such title or such leasehold interest, as the case may be, could not reasonably
be expected to have a Material Adverse Effect, and none of such property is subject to any Lien
except as permitted by subsection 12.3.

          9.9 Intellectual Property. Each of the Company and each of its Subsidiaries owns, or
is licensed to use, all domestic and foreign trademarks, tradenames, copyrights, technology,
know-how and processes necessary for the conduct of its business as currently conducted (the
“Intellectual Property”) except for those the failure to own or license which could not
reasonably be expected to have a Material Adverse Effect. No claim has been asserted and is
pending or, to the knowledge of the Company, has been threatened by any Person challenging or
questioning the use of any such Intellectual Property or the validity or effectiveness of any such
Intellectual Property which could reasonably be expected to have a Material Adverse Effect, nor
does the Company know of any valid basis for any such claim. The use of such Intellectual Property
by the Company and its
Subsidiaries does not infringe on the rights of any Person, except for such claims and
infringements that, in the aggregate, could not reasonably be expected to have a Material Adverse
Effect.

          9.10 Local Currency Facilities. Schedule 9.10 sets forth, as of the Closing Date,
all Local Currency Facilities (including the Local Currency Borrower, Local Currency Banks, Local
Currency Facility Agent, Local Currency Facility Maximum Borrowing Amount and Local Currency Bank
Maximum Borrowing Amount with respect thereto).

          9.11 Taxes. Each of the Company and its consolidated Subsidiaries has filed or
caused to be filed all tax returns which, to the knowledge of the Company, are required to be filed
and has paid all taxes shown to be due and payable on said returns or on any assessments made
against it or any of its property and all other taxes, fees or other charges imposed on it or any
of its property by any Governmental Authority (other than any unfiled tax returns for taxes, and
unpaid taxes, fees and other charges, (a) the amount or validity of which are currently being
contested in good faith by appropriate proceedings and with respect to which reserves in conformity
with GAAP have been provided on the books of the Company or its consolidated Subsidiaries, as the
case may be, or (b) which in each case, individually or in the aggregate, would not cause the
Company and its consolidated Subsidiaries to have a liability in excess of $20,000,000 or the
Dollar Equivalent Amount thereof); no notice of tax Lien has been filed, and, to the knowledge of
the Company, no claim is being asserted by any taxing authority, with respect to any such tax, fee
or other charge except for claims the amount or validity of which are currently being contested in
good faith by appropriate proceedings and with respect to which reserves in conformity with GAAP
have been provided on the books of the Company or its consolidated Subsidiaries, as the case may
be, and claims for amounts which, in the aggregate, do not exceed $20,000,000.

          9.12 Federal Regulations. No part of the proceeds of any Loans will be used for
“purchasing” or “carrying” any “margin stock” within the respective meanings of each of the quoted
terms under Regulation U of the Board of Governors of the Federal Reserve System as now and from
time to time hereafter in effect or for any purpose which violates the provisions of

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the
regulations of such Board of Governors. If requested by any Bank or the Administrative Agent, the
Company will furnish to the Administrative Agent and each Bank a statement to the foregoing effect
in conformity with the requirements of FR Form U-1 referred to in said Regulation U.

          9.13 ERISA. Each Plan which is intended to be qualified under Section 401(a) (or
403(a) as appropriate) of the Code and each related trust agreement, annuity contract or other
funding instrument which is intended to be tax-exempt under Section 501(a) of the Code is so
qualified and tax-exempt and has been so qualified and tax-exempt during the period from its
adoption to date. No event has occurred in connection with which the Company or any Commonly
Controlled Entity or any Plan, directly or indirectly, could reasonably be expected to be
subject to any material liability under ERISA, the Code or any other law, regulation or
governmental order or under any agreement, instrument, statute, rule of law or regulation pursuant
to or under which the Company or a Subsidiary has agreed to indemnify or is required to indemnify
any person against liability incurred under, or for a violation or failure to satisfy the
requirements of, any such statute, regulation or order. No Reportable Event has occurred during
the five-year period prior to the date on which this representation is made or deemed made with
respect to any Plan, and each Plan has complied in all material respects with the applicable
provisions of ERISA and the Code. The present value of all accrued benefits under each Single
Employer Plan maintained by the Company or any Commonly Controlled Entity or for which the Company
or any Commonly Controlled Entity has or could have any liability (based on those assumptions used
to fund the Plans) did not, as of the last annual valuation date prior to the date on which this
representation is made or deemed made, exceed the value of the assets of such Plan allocable to
such accrued benefits. Neither the Company nor any Commonly Controlled Entity has had a complete
or partial withdrawal from any Multiemployer Plan, and neither the Company nor any Commonly
Controlled Entity could reasonably be expected to become subject to any liability under ERISA if
the Company or any such Commonly Controlled Entity were to withdraw completely from all
Multiemployer Plans as of the valuation date most closely preceding the date on which this
representation is made or deemed made. No such Multiemployer Plan is in Reorganization or
Insolvent. The present value (determined using actuarial and other assumptions which are
reasonable in respect of the benefits provided and the employees participating) of the unfunded
liability of the Company and each Commonly Controlled Entity for benefits under all unfunded
retirement or severance plans, programs, policies or other arrangements (including, without
limitation, post retirement benefits to be provided to their current and former employees under
Plans which are welfare benefit plans (as defined in Section 3(1) of ERISA)), whether or not funded
does not, in the aggregate, exceed $15,000,000 (excluding those arrangements set forth on Schedule
9.13).

          9.14 Investment Company Act; Other Regulations. Neither the Company nor any
Subsidiary of the Company is an “investment company”, or a company “controlled” by an “investment
company”, within the meaning of the Investment Company Act of 1940, as amended. Neither the
Company nor any Subsidiary of the Company is subject to regulation under any Federal or State
statute or regulation which limits its ability to incur Indebtedness.

          9.15 Subsidiaries. The outstanding stock and securities (or other evidence of
ownership) of the Subsidiaries, partnerships or joint ventures owned by the Company and its

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Subsidiaries are owned by the Company and its Subsidiaries free and clear of all Liens, warrants,
options or rights of others of any kind whatsoever except for Liens permitted by subsection 12.3.

               9.16 Accuracy and Completeness of Information. No document furnished or statement
made in writing to the Banks by the Company in connection with the negotiation, preparation or
execution of this Agreement or any
of the other Credit Documents contains any untrue statement of a material fact, or omits to
state any such material fact necessary in order to make the statements contained therein not
misleading, in either case which has not been corrected, supplemented or remedied by subsequent
documents furnished or statements made in writing to the Banks. All other written information,
reports and other papers and data with respect to the Company and its Subsidiaries (other than
financial statements), furnished to the Banks by the Company, or on behalf of the Company, were (a)
in the case of those not prepared for delivery to the Banks, to the Company’s knowledge, at the
time the same were so furnished, complete and correct in all material respects for the purposes for
which the same were prepared and (b) in the case of those prepared for delivery to the Banks, to
the Company’s knowledge, complete and correct in all material respects, or have been subsequently
supplemented by other information, reports or other papers or data, to the extent necessary to give
the Banks a true and accurate knowledge of the subject matter in all material respects, it being
understood that financial projections as to future events are not to be viewed as facts and that
actual results may differ from projected results.

               9.17 Purpose of Loans; Commitments. The proceeds of the Loans and Letters of Credit
shall be used by the Company for general corporate purposes of the Company and, to the extent
permitted hereunder, its Subsidiaries, including working capital in the ordinary course of
business, letters of credit, repayment, prepayment or purchase of long-term indebtedness and
acquisitions, and the Revolving Commitments may be used by the Company as backup for its commercial
paper program, as applicable.

               9.18 Environmental Matters. Except as set forth on Schedule 9.18 or insofar as there
is no reasonable likelihood of a Material Adverse Effect arising from any combination of facts or
circumstances inconsistent with any of the following:

     (a) The facilities and properties owned or operated by the Company or any of its
Subsidiaries (the “Properties”) do not contain, and to the knowledge of the Company
or its Subsidiaries, have not previously contained, any Materials of Environmental Concern
in amounts or concentrations which (i) constitute or constituted a violation of, or (ii)
could reasonably be expected to give rise to liability under, any applicable Environmental
Law.

     (b) The Properties and all operations at the Properties are in compliance with all
applicable Environmental Laws, and there is no contamination at, under or to the knowledge
of the Company about the Properties or violation of any Environmental Law with respect to
the Properties or the business operated by the Company or any of its Subsidiaries (the
“Business”) which could materially interfere with the continued operation of the
Properties.

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     (c) Neither the Company nor any of its Subsidiaries has received any notice of
violation, alleged violation, non-compliance, liability or potential liability regarding
environmental matters or compliance with Environmental Laws with regard to any of the
Properties or the Business, nor does the Company or any of its Subsidiaries have
knowledge or reason to believe that any such notice will be received or is being threatened.

     (d) To the knowledge of the Company or any of its Subsidiaries, Materials of
Environmental Concern have not been transported or disposed of from the Properties in
violation of, or in a manner or to a location which could reasonably be expected to give
rise to liability under, any Environmental Law, nor have any Materials of Environmental
Concern been generated, treated, stored or disposed of at, on or under any of the Properties
in violation of, or in a manner that could reasonably be expected to give rise to liability
under, any applicable Environmental Law.

     (e) No judicial proceeding or governmental or administrative action is pending or, to
the knowledge of the Company or any of its Subsidiaries, threatened, under any Environmental
Law to which the Company or any Subsidiary is or will be named as a party with respect to
the Properties or the Business, nor are there any consent decrees or other decrees, consent
orders, administrative orders or other orders, or other analogous administrative or judicial
requirements outstanding under any Environmental Law with respect to the Properties or the
Business.

     (f) There has been no release or threat of release of Materials of Environmental
Concern at or from the Properties, or arising from or related to the operations of the
Company or any Subsidiary in connection with the Properties or otherwise in connection with
the Business, in violation of or in amounts or in a manner that could reasonably give rise
to liability under any applicable Environmental Laws.

SECTION 10. CONDITIONS PRECEDENT

               10.1 Conditions to Closing Date. The occurrence of the Closing Date, and the
agreement of each Bank to make the initial Extension of Credit requested to be made by it on or
after the Closing Date, shall be subject to the satisfaction, on or prior to the Closing Date, of
the following conditions precedent:

     (a) Credit Documents. The Administrative Agent shall have received (i) this
Agreement, executed and delivered by a duly authorized officer of the Company and each
Subsidiary that will be a Subsidiary Borrower party hereto on the Closing Date, with a
counterpart for each Bank, (ii) for the account of each Bank, an amended and restated
Company Guarantee executed and delivered by a duly authorized officer of the Company, with a
counterpart or conformed copy for each Bank and (iii) for the account of each Bank, an
amendment and restatement of each Existing Subsidiary Guarantee and any other Subsidiary
Guarantee, in each case executed and delivered by a duly authorized officer of the Company
or the applicable Subsidiary Guarantor, with a counterpart or conformed copy for each Bank.

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     (b) Corporate Proceedings of each Loan Party. The Administrative Agent shall
have received, with a counterpart for each Bank, a copy of the resolutions, in form and
substance satisfactory to the Administrative Agent, of the Board of Directors of each
Loan Party (except any Foreign Subsidiary Borrower) authorizing (i) the execution,
delivery and performance of each Credit Document to which it is a party and (ii) in the case
of each Borrower (except any Foreign Subsidiary Borrower), the borrowings contemplated
hereunder, certified by the Secretary, an Assistant Secretary, or the Vice President and
General Counsel of such Loan Party as of the Closing Date, which certificate shall be in
form and substance satisfactory to the Administrative Agent and shall state that the
resolutions thereby certified have not been amended, modified, revoked or rescinded.

     (c) Fees and Expenses. The Administrative Agent shall have received the fees
and expenses to be received on or prior to the Closing Date pursuant to subsection 8.1(c).

     (d) Legal Opinions. The Administrative Agent shall have received, with a
counterpart for each Bank, the following executed legal opinions:

          (i) the executed legal opinion of Milbank, Tweed, Hadley & McCloy LLP,
counsel to the Company and the Subsidiary Borrowers, substantially in the form of
Exhibit G-1, with such modifications therein as shall be reasonably requested or
approved by the Administrative Agent; and

          (ii) the executed legal opinion of Peter S. Brown, general counsel of the
Company, substantially in the form of Exhibit G-2, with such modifications therein
as shall be reasonably requested or approved by the Administrative Agent.

     Each such legal opinion shall cover such other matters incident to the transactions
contemplated by this Agreement and the other Credit Documents as the Administrative Agent
may reasonably require.

     (e) No Material Litigation. No litigation, inquiry, injunction or restraining
order shall be pending, entered or threatened (including any proposed statute, rule or
regulation) which in the reasonable judgment of any Bank could have a Material Adverse
Effect.

     (f) Existing Credit Agreement. Any principal, interest, fees or other amounts
owing or accrued and unpaid under the Existing Credit Agreement to any Person which is a
Bank under (and as defined in) the Existing Credit Agreement shall have been paid in full to
such Person.

     (g) Additional Matters. All corporate and other proceedings, and all
documents, instruments and other legal matters in connection with the transactions
contemplated by this Agreement and the other Credit Documents shall be reasonably
satisfactory in form and substance to the Administrative Agent.

          10.2 Conditions to Each Extension of Credit. The agreement of each Bank to make any
Extension of Credit requested to be made by it on any date (including, without

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limitation, its initial Extension of Credit, but excluding any Committed Rate Loan made
pursuant to a Notice of Swing Line Refunding, pursuant to subsections 5.5(c) or 6.3 or pursuant to
subsection 8.12(c) if the Dollar Equivalent Amount thereof is not increased) is subject to the
satisfaction of the following conditions precedent:

     (a) Representations and Warranties. Each of the representations and
warranties made by the Company and its Subsidiaries in or pursuant to the Credit Documents
(other than subsection 9.2) shall be true and correct in all material respects on and as of
such date as if made on and as of such date except for representations and warranties
expressly stated to relate to a specific earlier date, in which case such representations
and warranties are true and correct as of such earlier date.

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

     (c) [reserved].

     (d) Borrowing Certificate. In the case of the first requested borrowing
subsequent to the Closing Date, the Administrative Agent shall have received with a
counterpart for each Bank, a certificate of the Company, dated as of such date,
substantially in the form of Exhibit E, with appropriate insertions and attachments,
satisfactory in form and substance to the Administrative Agent, executed by any Responsible
Officer of the Company.

     (e) Foreign Subsidiary Borrowers. In the case of the first requested
borrowing by each Foreign Subsidiary Borrower, the Company shall deliver to the
Administrative Agent (i) on or prior to such date a copy of the resolutions, in form and
substance satisfactory to the Administrative Agent, of the Board of Directors of such
Foreign Subsidiary Borrower authorizing (1) the execution, delivery and performance of each
Credit Document to which it is a party and (2) the borrowings contemplated hereunder,
certified by the Secretary or an Assistant Secretary or other authorized officer of such
Foreign Subsidiary Borrower as of the Closing Date, which certificate shall be in form and
substance satisfactory to the Administrative Agent and shall state that the resolutions
thereby certified have not been amended, modified, revoked or rescinded and (ii) five (5)
Business Days prior to such date any additional information requested by the Banks in
connection with Section 15.17.

Each borrowing by and Letter of Credit issued on behalf of any Borrower shall constitute a
representation and warranty by the Company and such Borrower as of the date of such Loan and/or
Letter of Credit that the conditions contained in this subsection 10.2 have been satisfied.

SECTION 11. AFFIRMATIVE COVENANTS

          The Company hereby agrees that, so long as the Commitments remain in effect, any Letter of
Credit remains outstanding and unpaid or any Loan or any other amount is owing to any Bank, any
Agent or the Administrative Agent hereunder or under any Local Currency

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Facility, the Company shall and (except in the case of delivery of financial information,
reports and notices) shall cause each of its Subsidiaries to:

     11.1 Financial Statements. Furnish to each Bank:

     (a) as soon as available, but in any event within the earlier of (i) 120 days after
the end of each fiscal year of the Company or (ii) 30 days after the date on which such
financial statements are required to be filed with the Securities and Exchange Commission
under the Securities Act of 1933, a copy of the audited consolidated balance sheet of the
Company and its consolidated Subsidiaries as at the end of such year and the related
consolidated statements of operations and shareholders equity and of cash flows for such
year, setting forth in each case in comparative form the figures for the previous year,
reported on without a “going concern” or like qualification or exception, or qualification
arising out of the scope of the audit, by Ernst & Young or other independent certified
public accountants of nationally recognized standing reasonably acceptable to the Required
Banks; provided that the Company may in lieu of furnishing such financial statements
furnish to each Bank its Form 10-K filed with the Securities and Exchange Commission or any
successor or analogous Governmental Authority for such year;

     (b) as soon as available, but in any event within the earlier of (i) 120 days after
the end of each fiscal year of the Company or (ii) 30 days after the date on which
consolidated financial statements for the relevant period are required to be filed with the
Securities and Exchange Commission under the Securities Act of 1933, the unaudited
consolidating balance sheet of the Company and its consolidated Subsidiaries by geographic
region as at the end of such year and the related unaudited consolidating statements of
operations of the Company and its consolidated Subsidiaries by geographic region for such
year, setting forth in each case in comparative form the figures for the previous year,
certified pursuant to subsection 11.2(b) by a Responsible Officer as fairly presenting the
consolidating financial condition and results of operations of the Company and its
consolidated Subsidiaries by geographic region;

     (c) as soon as available, but in any event within the earlier of (i) 60 days after the
end of each of the first three quarterly periods of each fiscal year of the Company or (ii)
15 days after the date on which such financial statements are required to be filed with the
Securities and Exchange Commission under the Securities Act of 1933, the unaudited
consolidated balance sheet of the Company and its consolidated Subsidiaries as at the end of
such quarter and the related unaudited consolidated statements of operations and
shareholders’ equity and of cash flows of the Company and its consolidated Subsidiaries for
such quarter and the portion of the fiscal year through the end of such quarter, setting
forth in each case in comparative form the figures for such quarter of the previous year,
certified by a Responsible Officer as fairly presenting in all material respects when
considered in relation to the consolidated financial statements of the Company and its
consolidated Subsidiaries (subject to normal year-end audit adjustments); provided
that the Company may in lieu of furnishing such unaudited consolidated balance sheet furnish
to each Bank its Form 10-Q filed with the Securities and Exchange Commission or any
successor or analogous Governmental Authority for the relevant quarterly period; and

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     (d) as soon as available, but in any event within the earlier of (i) 60 days after the
end of each of the first three quarterly periods of each fiscal year of the Company or (ii)
15 days after the date on which consolidated financial statements for the relevant period
are required to be filed with the Securities and Exchange Commission under the Securities
Act of 1933, the unaudited consolidating balance sheet of the Company and its consolidated
Subsidiaries by geographic region as at the end of such quarter and the related unaudited
consolidating statements of operations of the Company and its consolidated Subsidiaries by
geographic region for such quarter and the portion of the fiscal year through the end of
such quarter, in the case of the unaudited consolidating balance sheet setting forth in
comparative form the figures for the previous year (but not the corresponding figures for
such quarter of the previous year) and in the case of the statements of operations setting
forth in comparative form the figures for such quarter of the previous year, certified by a
Responsible Officer as fairly presenting the consolidating financial condition and results
of operations of the Company and its consolidated Subsidiaries by geographic region (subject
to normal year-end audit adjustments);

the financial statements to be furnished pursuant to this subsection 11.1 shall fairly present the
consolidated (or consolidating by geographic region) financial position and results of operations
of the Company and its consolidated Subsidiaries in accordance with GAAP (subject, in the case of
subsections 11.1(c) and (d), to normal year-end audit adjustments and the absence of complete
footnotes) applied consistently throughout the periods reflected therein and with prior periods
(except as approved by such accountants or Responsible Officer, as the case may be, and disclosed
therein).

     11.2 Certificates; Other Information. Furnish to each Bank:

     (a) concurrently with the delivery of the financial statements referred to in
subsection 11.1(a), a certificate of the independent certified public accountants reporting
on such financial statements stating that in making the examination necessary therefor no
knowledge was obtained of any Default or Event of Default, except as specified in such
certificate;

     (b) concurrently with the delivery of the financial statements referred to in
subsections 11.1(a) and 11.1(b), a certificate of a Responsible Officer substantially in the
form of Exhibit H;

     (c) concurrently with the delivery of the financial statements referred to in
subsection 11.1(c), a certificate of a Responsible Officer (i) stating that, to the best of
such Responsible Officer’s knowledge, the Company has observed and performed all of its
covenants and other agreements contained in this Agreement and the other Credit Documents to
which it is a party to be observed or performed by it, (ii) that such Responsible Officer
has obtained no knowledge of any Default or Event of Default
except as specified therein and (iii) setting forth calculations supporting compliance
with subsections 12.1(a) and (b);

     (d) as soon as delivered, a copy of the letter, addressed to the Company, of the
certified public accountants who prepared the financial statements referred to in

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subsection 11.1(a) for such fiscal year and otherwise referred to as a “management letter”;

     (e) within five days after the same are sent, copies of all financial statements and
reports which the Company sends to its stockholders generally, and within five days after
the same are filed, copies of all financial statements and reports which the Company or any
of its Subsidiaries may make to, or file with, the Securities and Exchange Commission or any
successor or analogous Governmental Authority;

     (f) concurrently with the delivery of the financial statements referred to in
subsections 11.1(a) and 11.1(c), a certificate of a Responsible Officer setting forth the
name of each Foreign Subsidiary Borrower and each outstanding Swing Line Loan, Competitive
Advance Loan, Local Currency Loan made and Letter of Credit issued to the Foreign Subsidiary
Borrowers as of the date of such financial statements; and

     (g) promptly, such additional documents, instruments, legal opinions or financial and
other information as the Administrative Agent or any Bank may from time to time reasonably
request.

          11.3 Payment of Obligations. Pay, discharge or otherwise satisfy at or before
maturity or before they become delinquent, as the case may be, all its obligations of whatever
nature, including, without limitation, all obligations in respect of taxes, except where the amount
or validity thereof is currently being contested in good faith by appropriate proceedings and
reserves in conformity with GAAP with respect thereto have been provided on the books of the
Company or its Subsidiaries, as the case may be, or where the failure to pay, discharge or
otherwise satisfy could not reasonably be expected to have a Material Adverse Effect.

          11.4 Conduct of Business and Maintenance of Existence. Continue to engage in
business of the same general type as now conducted by it and preserve, renew and keep in full force
and effect its corporate existence and take all reasonable action to maintain all rights,
privileges and franchises necessary or desirable in the normal conduct of its business except as
otherwise permitted pursuant to subsection 12.4; comply with all Contractual Obligations and
Requirements of Law except to the extent that failure to comply therewith could not, in the
aggregate, reasonably be expected to have a Material Adverse Effect.

          11.5 Maintenance of Property; Insurance. Keep all property useful and necessary in
its business in good working order and condition, except where the failure to do so could not
reasonably be expected to have a Material Adverse Effect; maintain with financially sound and reputable insurance companies
insurance on all its property in at least such amounts and against at least such risks (but
including in any event public liability, product liability and business interruption) as are
usually insured against in the same general area by companies engaged in the same or a similar
business; and furnish to each Bank, upon written request, full information as to the insurance
carried.

          11.6 Inspection of Property; Books and Records; Discussions. Keep proper books of
records and account in which the entries are, in all material respects, full, true and correct in
conformity with sound business practice and all Requirements of Law shall be made of

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all dealings and transactions in relation to its business and activities; and, upon reasonable notice under the
circumstances, permit representatives of the Administrative Agent to visit and inspect any of its
properties and examine and make abstracts from any of its books and records at any reasonable time
and as often as may reasonably be desired and to discuss the business, operations, properties and
financial and other condition of the Company and its Subsidiaries with officers and employees of
the Company and its Subsidiaries and with its independent certified public accountants.

          11.7 Notices. Promptly, after the Company becomes aware thereof, give notice to the
Administrative Agent and each Bank of:

     (a) the occurrence of any Default or Event of Default;

     (b) any (i) default or event of default under any Contractual Obligation of the
Company or any of its Subsidiaries or (ii) litigation, investigation or proceeding which may
exist at any time between the Company or any of its Subsidiaries and any Governmental
Authority, which in either case of clauses (i) or (ii), if not cured or if adversely
determined, as the case may be, could reasonably be expected to have a Material Adverse
Effect or cause a Default or an Event of Default;

     (c) any litigation or proceeding affecting the Company or any of its Subsidiaries (i)
in which the amount involved is $20,000,000 or more and not covered by insurance or (ii) in
which injunctive or similar relief is sought which could reasonably be expected to have a
Material Adverse Effect;

     (d) the following events: (i) the occurrence or expected occurrence of any Reportable
Event with respect to any Plan, a failure to make any required contribution to a Plan, the
creation of any Lien in favor of the PBGC or a Plan or any withdrawal from, or the
termination, Reorganization or Insolvency of, any Multiemployer Plan or (ii) the institution
of proceedings or the taking of any other action by the PBGC or the Company or any Commonly
Controlled Entity or any Multiemployer Plan with respect to the withdrawal from, or the
terminating (other than a standard termination under Section 4041(b) of ERISA),
Reorganization or Insolvency of, any Plan; and

     (e) any change, development or event involving a prospective change, which has had or
could reasonably be expected to have a Material Adverse Effect.

Each notice pursuant to this subsection shall be accompanied by a statement of a Responsible
Officer setting forth details of the occurrence referred to therein and stating what action the
Company proposes to take with respect thereto.

          11.8 Environmental Laws.

          (a) Comply with, and take all reasonable efforts to ensure compliance by all tenants and
subtenants, if any, in all material respects with, all applicable Environmental Laws and obtain and
comply in all material respects with and maintain, and undertake all reasonable efforts to ensure
that all tenants and subtenants obtain and comply in all material respects with

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and maintain, any and all licenses, approvals, notifications, registrations or permits required by applicable
Environmental Laws.

          (b) Conduct and complete all investigations, studies, sampling and testing, and all remedial,
removal and other actions required under Environmental Laws and promptly comply in all material
respects with all lawful orders and directives of all Governmental Authorities regarding
Environmental Laws except to the extent that the same are being contested in good faith by
appropriate proceedings and the pendency of such proceedings could not reasonably be expected to
have a Material Adverse Effect.

          11.9 Additional Subsidiary Guarantees. In the event that any Domestic Subsidiary
(with assets accounting for more than 5% of Total Assets) which is not a Guarantor shall own any
assets or generate any revenues (excluding any Domestic Subsidiary the sole activities of which
consist of entering into one or more Permitted Receivables Securitizations), take all actions
necessary to cause such Domestic Subsidiary to execute and deliver a Subsidiary Guarantee, within
30 days of the occurrence of such event.

          11.10 Foreign Subsidiary Borrowers. Within 45 days after the Closing Date, the
Company shall deliver to the Administrative Agent (i) an executed Foreign Subsidiary Opinion of
counsel to each Foreign Subsidiary Borrower that is a party to this Agreement on the Closing Date
if the aggregate Exposure of such Subsidiary owing to all Banks as of the Closing Date exceeds
$20,000,000 and (ii) a copy of all documentation with respect to all Local Currency Facilities.

SECTION 12. NEGATIVE COVENANTS

          The Company hereby agrees that, so long as the Commitments remain in effect, any Letter of
Credit remains outstanding and unpaid or any other amount is owing to any Bank, any Agent or the
Administrative Agent hereunder or under any Local Currency Facility:

          12.1 Financial Condition Covenants. The Company shall not:

          (a) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio on the last
day of any fiscal quarter set forth below to exceed the ratio set forth below opposite such fiscal
quarter:

	 	 	 
	 	 	Consolidated 
	Fiscal Quarter	 	Leverage Ratio
	December 31, 2006

	 	5.00 to 1.00
	March 31, 2007

	 	5.00 to 1.00
	June 30, 2007

	 	5.00 to 1.00
	September 30, 2007

	 	5.00 to 1.00
	December 31, 2007 and thereafter

	 	4.00 to 1.00

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          (b) Consolidated Interest Coverage Ratio. Permit the Consolidated Interest Coverage
Ratio for any period of four consecutive fiscal quarters of the Borrower ending with any fiscal
quarter set forth below to be less than the ratio set forth below opposite such fiscal quarter:

	 	 	 
	 	 	Consolidated 
	Fiscal Quarter	 	Interest Coverage Ratio
	December 31, 2006

	 	2.50 to 1.00
	March 31, 2007

	 	2.50 to 1.00
	June 30, 2007

	 	2.50 to 1.00
	September 30, 2007

	 	2.50 to 1.00
	December 31, 2007 and thereafter

	 	3.00 to 1.00

          12.2 Limitation on Indebtedness of Subsidiaries

          . The Company shall not permit any of its Subsidiaries to, and the Subsidiaries shall not,
directly or indirectly, create, incur, assume or suffer to exist any Indebtedness, except (a) any
Indebtedness of Subsidiaries pursuant to any of the Credit Documents, (b) any Indebtedness of any
Domestic Subsidiary otherwise permitted hereunder so long as such Domestic Subsidiary shall have
executed and delivered to the Administrative Agent a Subsidiary Guarantee and such Subsidiary
Guarantee shall be in full force and effect, (c) cash pooling arrangements in connection with cash
management systems entered into by the Company or any Subsidiaries in the ordinary course of
business; provided that such arrangements do not have a negative balance, (d) Indebtedness
in respect of drafts on Italian banks with regard to working capital needs in the ordinary course
of business, (e) Indebtedness of any Foreign Subsidiary incurred to finance the acquisition,
construction or improvement of any fixed or capital assets, including Capital Lease Obligations and
any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien
on any such assets prior to the acquisition thereof, and extensions, renewals and replacements of any such Indebtedness that do not
increase the outstanding principal amount thereof (provided that such Indebtedness is
incurred prior to or within 180 days after such acquisition or the completion of such construction
or improvement), (f) Indebtedness of any Foreign Subsidiary owing to the Company or any other
Subsidiary, (g) Indebtedness outstanding on the date hereof and specified on Schedule 12.2 and any
refinancings, refundings, renewals or extensions thereof (without increasing the principal amount
thereof, or shortening the maturity of, the principal amount thereof), (h) Indebtedness consisting
of liabilities of any Subsidiary in respect of a Permitted Receivables Securitization in an
aggregate amount up to $550,000,000 and (i) any other Indebtedness of a Foreign Subsidiary in an
aggregate amount not to exceed $250,000,000, in addition to Indebtedness of Foreign Subsidiaries in
existence on the Closing Date and specified on Schedule 12.2.

          12.3 Limitation on Liens. The Company shall not, and shall not permit any of its
Domestic Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Lien
upon any of its property, assets or revenues, whether now owned or hereafter acquired, except for:

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     (a) Liens for taxes not yet due or which are being contested in good faith by
appropriate proceedings, provided that adequate reserves with respect thereto are
maintained on the books of the Company or its Domestic Subsidiaries, as the case may be, in
conformity with GAAP;

     (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like
Liens arising in the ordinary course of business which are not overdue for a period of more
than 60 days or which are being contested in good faith by appropriate proceedings;

     (c) pledges or deposits in connection with workers’ compensation, unemployment
insurance and other social security legislation and deposits securing liability to insurance
carriers under insurance or self-insurance arrangements;

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

     (e) easements, rights-of-way, restrictions and other similar encumbrances incurred in
the ordinary course of business which, in the aggregate, are not substantial in amount and
which do not in any case materially detract from the value of the property subject thereto
or materially interfere with the ordinary conduct of the business of the Company or such
Domestic Subsidiary;

     (f) Liens created in connection with Indebtedness incurred pursuant to Section
12.2(h);

     (g) any Lien existing on any property or asset prior to the acquisition thereof by the
Company or any Subsidiary or existing on any property or asset of any Person that becomes a
Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary;
provided that (i) such Lien is not created in contemplation of or in connection
with such acquisition or such Person becoming a Subsidiary, as the case may be, (ii)
such Lien shall not apply to any other property or assets of the Company or any Subsidiary
and (iii) such Lien shall secure only those obligations which it secures on the date of such
acquisition or the date such Person becomes a Subsidiary, as the case may be and extensions,
renewals and replacements thereof that do not increase the outstanding principal amount
thereof;

     (h) Liens on fixed or capital assets acquired, constructed or improved by the Company
or any Subsidiary; provided that (i) such security interests and the Indebtedness
secured thereby are incurred prior to or within 90 days after such acquisition or the
completion of such construction or improvement, (ii) the Indebtedness secured thereby does
not exceed the cost of acquiring, constructing or improving such fixed or capital assets and
(iii) such security interests shall not apply to any other property or assets of the Company
or any Subsidiary;

     (i) any Lien on a bank account of the Company or any Subsidiary arising in connection
with the cash pooling arrangements referred to in Section 12.2(c);

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     (j) Liens arising out of any judgment or award (i) with respect to which an appeal or
proceeding for review is being prosecuted in good faith bv appropriate proceedings
diligently conducted, and with respect to which a stay of execution is in effect; and (ii)
that does not constitute an Event of Default under clause (i) of Section 13; and

     (k) Liens (not otherwise permitted hereunder) which secure obligations not exceeding
(as to the Company and all Domestic Subsidiaries) a Dollar Equivalent Amount equal to
$50,000,000 at any time outstanding.

          12.4 Limitation on Fundamental Changes. The Company shall not, and shall not permit
any of its Domestic Subsidiaries to, directly or indirectly, enter into any merger, consolidation
or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or
dissolution), or convey, sell, lease, assign, transfer or otherwise dispose of, all or
substantially all of its property, business or assets, except:

          (i) any Subsidiary may be merged or consolidated with or into the Company
(provided that the Company shall be the continuing or surviving corporation)
or with or into any one or more wholly-owned Domestic Subsidiaries; and

          (ii) any Subsidiary may sell, lease, transfer or otherwise dispose of any or
all of its assets (upon voluntary liquidation or otherwise) (a) to the Company or
any other wholly owned Domestic Subsidiary or (b) to any other Person if the Company
would be permitted to sell such assets directly to such Person under this Section
12.4.

          12.5 Limitations on Payments. For the period from and including the Closing Date until and including the first fiscal
quarter end on which the Consolidated Leverage Ratio for the period of four consecutive quarters
ending on such date is less than 3.5 to 1.0 (before and after giving effect to such restricted
payment), the Company shall not, and shall not permit any of its Subsidiaries to, make any payment
on account of, or set apart assets for a sinking or other analogous fund for, the purchase,
redemption, defeasance, retirement or other acquisition of, any Capital Stock of any Loan Party,
whether now or hereafter outstanding, or make any other distribution in respect thereof, either
directly or indirectly, whether in cash or property or in obligations of any Loan Party
(collectively, “Restricted Payments”), except that (v) the Company or any Subsidiary may purchase
all or any portion of the minority equity interests in any Subsidiary less than wholly-owned
(directly or indirectly) by the Company, (w) any Subsidiary or Loan Party may make Restricted
Payments to any other Loan Party, (x) any Loan Party may make Restricted Payments consisting solely
of Capital Stock of any Loan Party, (y) the Borrower may make Restricted Payments with the proceeds
(with carryover of excess proceeds from the current fiscal year to the following fiscal year) from
the exercise of stock options in each fiscal year of the Borrower and (z) any Loan Party may make
payments related to restricted stock or performance shares for employee compensation and ESOP
related purchases in an aggregate amount not to exceed $30,000,000 in each fiscal year of the
Borrower.

          12.6 Limitations on Acquisitions. The Company shall not, and shall not permit any of
its Subsidiaries to, purchase any assets constituting a business unit of, or the Capital Stock

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of, any Person, or make any investment in or loan or advance to any joint venture except for
investments in Existing Joint Ventures in an aggregate amount not to exceed $50,000,000, Permitted
Joint Ventures and Permitted Acquisitions; provided that immediately prior to and after
giving effect to such Permitted Acquisition:

          (a) no Default or Event of Default shall have occurred and be continuing; and

          (b) such Permitted Joint Ventures and Permitted Acquisitions are funded (i) with common stock
of the Company; or (ii) cash or other consideration, so long as, at the time of and after giving
pro forma effect to such Permitted Joint Venture or Permitted Acquisitions funded with
consideration other than common stock of the Company, either (A) the Consolidated Leverage Ratio is
less than or equal to 4.00 to 1.00 or (B) the Company has Liquidity of at least $450,000,000;
provided that the criteria set forth under this clause (b)(ii) shall not be a condition to
consummation of Permitted Joint Ventures or Permitted Acquisitions for aggregate consideration not
exceeding $50,000,000 in each fiscal year of the Company.

          12.7 Limitation on Negative Pledge Clauses. The Company shall not, and shall not
permit any of its Subsidiaries to, enter into or suffer to exist or become effective any agreement
that prohibits or limits the ability of the Company or any of its Subsidiaries to create, incur,
assume or suffer to exist any Lien upon any of its Property or revenues, whether now owned or
hereafter acquired, to secure the obligations of the Loan Parties under the Credit Documents, other
than (a) this Agreement and the other Credit Documents, (b) conditions imposed by law, regulation,
court order, rule or decree, (c) agreements relating to Property encumbered by Liens permitted by Section 12.3 as long as such
agreements apply only to the Property encumbered by such Liens, any inventory or goods, the sale of
which may give rise to a “Receivable” (as such term is defined in the Permitted Receivables
Agreement) or the assignment of any right to receive income in respect of such inventory or goods,
(d) restrictions contained in the Arrow Note Documents or any other evidence of Indebtedness so
long as not materially more restrictive in the aggregate than the Arrow Note Documents, (e) any
agreement relating to Property of a Subsidiary that is in effect at the time such Person becomes a
Subsidiary (provided that such agreement was not entered into in contemplation of such
Person becoming a Subsidiary), (f) any restrictions with respect to a Subsidiary imposed pursuant
to an agreement that has been entered into in connection with the Disposition of all or
substantially all of the Capital Stock or assets of such Subsidiary, (g) any agreement evidencing
Indebtedness of any Foreign Subsidiary permitted by Section 12.2 so long as such agreement does not
restrict any Lien securing any Property of the Company or any Domestic Subsidiary, (h) agreements
with suppliers to the Company or any Subsidiary relating to any inventory supplied by such
suppliers and (i) any restrictions in Hedging Agreements that require the granting of liens to the
counterparty thereunder on an equal and ratable basis with Liens securing the obligations of the
Loan Parties under the Credit Documents.

          12.8 Limitation on Restrictions on Subsidiary Distributions. The Company shall not,
and shall not permit any of its Subsidiaries to, enter into or suffer to exist or become effective
any consensual encumbrance or restriction on the ability of any Subsidiary to (a) make Restricted
Payments in respect of any Capital Stock of such Subsidiary held by, or pay any Indebtedness owed
to, the Company or any other Subsidiary, (b) make investments in the Company or any other

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Subsidiary or (c) transfer any of its assets to the Company or any other Subsidiary, except for
such encumbrances or restrictions existing under or by reason of (i) any restrictions existing
under the Credit Documents, (ii) any restrictions with respect to a Subsidiary imposed pursuant to
an agreement that has been entered into in connection with the Disposition of all or substantially
all of the Capital Stock or assets of such Subsidiary, (iii) conditions imposed by law, regulation,
court order, rule or decree, (iv) restrictions relating to any special purpose entity under any
Permitted Receivables Securitization, (v) any restriction imposed on any Subsidiary that is in
effect at the time such Person becomes a Subsidiary (provided that such restriction was not
entered into in contemplation of such Person becoming a Subsidiary) and (vi) any restriction in any
agreement evidencing Indebtedness of any Foreign Subsidiary permitted by Section 12.2.

SECTION 13. EVENTS OF DEFAULT

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

     (a) (i) Any Specified Borrower shall fail to pay any principal of any Loan or any
Reimbursement Obligation owing by it when due (whether at the stated maturity, by
acceleration or otherwise) in accordance with the terms hereof; or (ii) any Local Currency
Borrower shall fail to pay any principal of on any Local Currency Loan when due in
accordance with the applicable terms of the relevant Local Currency Facility; or (iii) any
Specified Borrower or Local Currency Borrower shall fail to pay any interest on any Loan or
Local Currency Loan or any fee or any other amount payable hereunder or under
any Local Currency Facility, within five days after any such interest or other amount
becomes due in accordance with the terms thereof or hereof; or

     (b) Any representation or warranty made or deemed made by the Company or any
Subsidiary herein or in any other Credit Document or which is contained in any certificate,
document or financial or other statement furnished by it at any time under or in connection
with this Agreement or any such other Credit Document shall prove to have been incorrect in
any material respect on or as of the date made or deemed made; or

     (c) The Company or any Subsidiary shall default in the observance or performance of
any agreement contained in Section 12 and, with respect to subsections 12.2 and 12.3, such
default shall continue unremedied for a period of 20 days; or

     (d) The Company or any Subsidiary shall default in the observance or performance of
any other agreement contained in this Agreement or any other Credit Document (other than as
provided in paragraphs (a) through (c) of this Section), and such default shall continue
unremedied for a period of 30 days after the Company has knowledge thereof; or

     (e) Any of the Credit Documents shall cease, for any reason, to be in full force and
effect, or the Company shall so assert in writing (except for the termination of any Local
Currency Facility if all Local Currency Loans and other amounts owing thereunder are paid in
full); or

     (f) The Company or any of its consolidated Subsidiaries shall (i) default in any
payment of principal of or interest of any Indebtedness (other than the Loans and

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Reimbursement Obligations) or in the payment of any Guarantee Obligation or in connection
with any Permitted Receivables Securitization, in each case with an outstanding principal
amount in excess of a Dollar Equivalent Amount equal to $50,000,000 when due beyond the
period of grace, if any, provided in the instrument or agreement under which such
Indebtedness or Guarantee Obligation was created; or (ii) default in the observance or
performance of any other agreement or condition relating to any such Indebtedness, Guarantee
Obligation or Permitted Receivables Securitization or contained in any instrument or
agreement evidencing, securing or relating thereto, or any other event shall occur or
condition exist, the effect of which default or other event or condition is to cause, or to
permit the holder or holders of such Indebtedness or beneficiary or beneficiaries of such
Guarantee Obligation (or a trustee or agent on behalf of such holder or holders or
beneficiary or beneficiaries) to cause, with the giving of notice if required, such
Indebtedness to become due prior to its stated maturity or such Guarantee Obligation to
become payable; or

     (g) (i) Any Specified Borrower, or any Subsidiary that, directly or indirectly,
accounts for more than 5% of Total Assets, at any date shall commence any case, proceeding
or other action (A) under any existing or future law of any jurisdiction, domestic or
foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, seeking to
have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt
or insolvent, or seeking reorganization, arrangement, adjustment,
winding-up, liquidation, dissolution, composition or other relief with respect to it or
its debts, or (B) seeking appointment of a receiver, trustee, custodian, conservator or
other similar official for it or for all or any substantial part of its assets, or the
Company or any such Subsidiary shall make a general assignment for the benefit of its
creditors; or (ii) there shall be commenced against any Specified Borrower or any Subsidiary
any case, proceeding or other action of a nature referred to in clause (i) above which (A)
results in the entry of an order for relief or any such adjudication or appointment or (B)
remains undismissed, undischarged or unbonded for a period of 60 days; or (iii) there shall
be commenced against any Specified Borrower or any Subsidiary any case, proceeding or other
action seeking issuance of a warrant of attachment, execution, distraint or similar process
against all or any substantial part of its assets which results in the entry of an order for
any such relief which shall not have been vacated, discharged, or stayed or bonded pending
appeal within 60 days from the entry thereof; or

     (h) (i) Any Person shall engage in any “prohibited transaction” (as defined in Section
406 of ERISA or Section 4975 of the Code) involving any Plan, (ii) any “accumulated funding
deficiency” (as defined in Section 302 of ERISA), whether or not waived, shall exist with
respect to any Plan or any Lien in favor of the PBGC or a Plan shall arise on the assets of
the Company or any Commonly Controlled Entity, (iii) a Reportable Event shall occur with
respect to, or proceedings shall commence to have a trustee appointed, or a trustee shall be
appointed, to administer or to terminate, any Single Employer Plan, which Reportable Event
or commencement of proceedings or appointment of a trustee is, in the reasonable opinion of
the Required Banks, likely to result in the termination of such Plan for purposes of Title
IV of ERISA, (iv) any Single Employer Plan shall terminate for purposes of Title IV of
ERISA, (v) the Company or any Commonly Controlled Entity shall, or in the reasonable opinion
of the Required

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Banks is likely to, incur any liability in connection with a withdrawal
from, or the Insolvency or Reorganization of, a Multiemployer Plan or (vi) any other event
or condition shall occur or exist with respect to a Plan; and in each case in clauses (i)
through (vi) above, such event or condition, together with all other such events or
conditions, if any, could reasonably be expected to subject the Company to any tax, penalty
or other liabilities in the aggregate material in relation to the business, operations,
property or financial or other condition of the Company; or

     (i) One or more judgments or decrees (other than those related to material litigation
listed on Schedule 13(i); provided that the aggregate amount of such judgments shall
not exceed $50,000,000) shall be entered against the Company or any of its Subsidiaries
involving in the aggregate a liability (not paid or fully covered by insurance) of a Dollar
Equivalent Amount equal to $50,000,000 or more, and all such judgments or decrees shall not
have been vacated, discharged, stayed or bonded pending appeal within 60 days from the entry
thereof; or

     (j) The Company Guarantee or any Subsidiary Guarantee shall cease, for any reason, to
be in full force and effect (other than, in the case of any Subsidiary Guarantee, in
accordance with the terms thereof) or any Guarantor party thereto shall so assert; or

     (k) A Change in Control shall occur;

then, and in any such event, (A) if such event is an Event of Default specified in clause (i) or
(ii) of paragraph (g) above with respect to any Specified Borrower or Guarantor, automatically the
Commitments shall immediately terminate and the Loans hereunder (with accrued interest thereon) and
all other amounts owing under this Agreement (including, without limitation, all amounts of L/C
Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have
presented the documents required thereunder) shall become immediately due and payable and (B) if
such event is any other Event of Default, either or both of the following actions may be taken:
(i) with the consent of the Required Banks, the Administrative Agent may, or upon the request of
the Required Banks, the Administrative Agent shall, by notice to the Company declare the
Commitments to be terminated forthwith, whereupon the Commitments shall immediately terminate; and
(ii) with the consent of the Required Banks, the Administrative Agent may, or upon the request of
the Required Banks, the Administrative Agent shall, by notice to the Company, declare the Loans
hereunder (with accrued interest thereon) and all other amounts owing under this Agreement
(including, without limitation, all amounts of L/C Obligations, whether or not the beneficiaries of
the then outstanding Letters of Credit shall have presented the documents required thereunder) to
be due and payable forthwith, whereupon the same shall immediately become due and payable. With
respect to all Letters of Credit with respect to which presentment for honor shall not have
occurred at the time of an acceleration pursuant to the preceding sentence, the applicable Borrower
shall at such time deposit in a cash collateral account opened by the Administrative Agent an
amount equal to the aggregate then undrawn and unexpired amount of Letters of Credit issued for its
account. Each Borrower hereby grants to the Administrative Agent, for the benefit of the Issuing
Banks and the L/C Participants, a security interest in such cash collateral to secure all
obligations of such Borrower under this Agreement and the other Loan Documents. Amounts held in
such cash collateral account shall be applied by the Administrative Agent to the payment of drafts
drawn under such

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Letters of Credit, and the unused portion thereof after all such Letters of Credit
shall have expired or been fully drawn upon, if any, shall be applied to repay other obligations of
the applicable Borrower hereunder. After all such Letters of Credit shall have expired or been
fully drawn upon, all Reimbursement Obligations shall have been satisfied and all other obligations
of the applicable Borrower hereunder shall have been paid in full, the balance, if any, in such
cash collateral account shall be returned to the applicable Borrower. The Borrowers shall execute
and deliver to the Administrative Agent, for the account of the Issuing Banks and the L/C
Participants, such further documents and instruments as the Administrative Agent may request to
evidence the creation and perfection of the within security interest in such cash collateral
account.

          Except as expressly provided above in this Section, presentment, demand, protest and all other
notices of any kind are hereby expressly waived.

SECTION 14. THE ADMINISTRATIVE AGENT; THE SYNDICATION AGENTS; THE

ARRANGER

          14.1 Appointment. Each Bank hereby irrevocably designates and appoints JPMorgan
Chase Bank, N.A., as the Administrative Agent of such Bank under this Agreement and the other
Credit Documents, and each such Bank irrevocably authorizes JPMorgan Chase Bank, N.A., as the
Administrative Agent for such Bank, to take such action on its behalf under the provisions of
this Agreement and the other Credit Documents and to exercise such powers and perform such duties
as are expressly delegated to the Administrative Agent by the terms of this Agreement and the other
Credit Documents, together with such other powers as are reasonably incidental thereto.
Notwithstanding any provision to the contrary elsewhere in this Agreement, the Administrative Agent
shall not have any duties or responsibilities, except those expressly set forth herein, or any
fiduciary relationship with any Bank, and no implied covenants, functions, responsibilities,
duties, obligations or liabilities shall be read into this Agreement or any other Credit Document
or otherwise exist against the Administrative Agent.

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

          14.3 Exculpatory Provisions. Neither the Administrative Agent nor any of its
officers, directors, employees, agents, attorneys-in-fact or Affiliates shall be (i) liable for any
action lawfully taken or omitted to be taken by it or such Person under or in connection with this
Agreement or any other Credit Document (except for its or such Person’s own gross negligence or
willful misconduct) or (ii) responsible in any manner to any of the Banks for any recitals,
statements, representations or warranties made by the Company or any officer thereof contained in
this Agreement or any other Credit Document or in any certificate, report, statement or other
document referred to or provided for in, or received by the Administrative Agent under or in
connection with, this Agreement or any other Credit Document or for the value, validity,
effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Credit
Document or for any failure of the Company to perform its obligations hereunder or thereunder.

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The Administrative Agent shall not be under any obligation to any Bank to ascertain or to inquire as to
the observance or performance of any of the agreements contained in, or conditions of, this
Agreement (other than conditions precedent set forth in Section 10.1) or any other Credit Document,
or to inspect the properties, books or records of the Company.

          14.4 Reliance by Administrative Agent. The Administrative Agent shall be entitled to
rely, and shall be fully protected in relying, upon any writing, resolution, notice, consent,
certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message,
statement, order or other document or conversation believed by it to be genuine and correct and to
have been signed, sent or made by the proper Person or Persons and upon advice and statements of
legal counsel (including, without limitation, counsel to the Company), independent accountants and
other experts selected by the Administrative Agent. The Administrative Agent shall be fully
justified in failing or refusing to take any action under this Agreement or any other Credit
Document unless it shall first receive such advice or concurrence of the Required Banks or all of
the Banks, as may be required hereunder, as it deems appropriate or it shall first be indemnified to its satisfaction by the
Banks against any and all liability and expense which may be incurred by it by reason of taking or
continuing to take any such action. The Administrative Agent shall in all cases be fully protected
from liability to the Banks in acting, or in refraining from acting, under this Agreement and the
other Credit Documents in accordance with a request of the Required Banks or all of the Banks, as
may be required hereunder, and such request and any action taken or failure to act pursuant thereto
shall be binding upon all the Banks and their respective successors and assigns.

          14.5 Notice of Default. The Administrative Agent shall not be deemed to have
knowledge or notice of the occurrence of any Default or Event of Default hereunder unless the
Administrative Agent has received notice from a Bank or the Company referring to this Agreement,
describing such Default or Event of Default and stating that such notice is a “notice of default”.
In the event that the Administrative Agent receives such a notice, the Administrative Agent shall
give notice thereof to the Banks. The Administrative Agent shall take such action with respect to
such Default or Event of Default as shall be reasonably directed by the Required Banks or all of
the Banks, as may be required hereunder; provided that unless and until the Administrative
Agent shall have received such directions, the Administrative Agent may (but shall not be obligated
to) take such action, or refrain from taking such action, with respect to such Default or Event of
Default as it shall deem advisable in the best interests of the Banks.

          14.6 Non-Reliance on Administrative Agent and Other Banks. Each Bank expressly
acknowledges that neither the Administrative Agent nor any of its officers, directors, employees,
agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that
no act by the Administrative Agent hereinafter taken, including any review of the affairs of the
Company, shall be deemed to constitute any representation or warranty by the Administrative Agent
to any Bank. Each Bank represents to the Administrative Agent that it has, independently and
without reliance upon the Administrative Agent or any other Bank, and based on such documents and
information as it has deemed appropriate, made its own appraisal of and investigation into the
business, operations, property, financial and other condition and creditworthiness of the Company
and made its own decision to make its Loans hereunder and enter into this Agreement and the other
Credit Documents to which it is or will be a party. Each Bank also represents that it will,
independently and without reliance upon the Administrative

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Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own
credit analysis, appraisals and decisions in taking or not taking action under this Agreement and
the other Credit Documents, and to make such investigation as it deems necessary to inform itself
as to the business, operations, property, financial and other condition and creditworthiness of the
Company and its Subsidiaries. Except for notices, reports and other documents expressly required
to be furnished to the Banks by the Administrative Agent hereunder, the Administrative Agent shall
not have any duty or responsibility to provide any Bank with any credit or other information
concerning the business, operations, property, condition (financial or otherwise), prospects or
creditworthiness of the Company and its Subsidiaries which may come into the possession of the
Administrative Agent and any Issuing Bank or any of its officers, directors, employees, agents,
attorneys-in-fact or Affiliates.

          14.7 Indemnification. The Banks agree to indemnify the Administrative Agent and each
Issuing Bank in their respective capacities as such (to the extent not reimbursed by the Company
and without limiting the obligation of the Company to do so), ratably according to their respective
Revolving Commitment Percentages or Term Percentages, as applicable, in effect on the date on which
indemnification is sought under this subsection (or, if indemnification is sought after the date
upon which the Commitments shall have terminated and the Loans shall have been paid in full,
ratably in accordance with their Revolving Commitment Percentages or Term Percentages, as
applicable, immediately prior to such date), from and against any and all liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind
whatsoever which may at any time (including, without limitation, at any time following the payment
of the Loans) be imposed on, incurred by or asserted against the Administrative Agent or any
Issuing Bank in any way relating to or arising out of this Agreement, any of the other Credit
Documents or any documents contemplated by or referred to herein or therein or the transactions
contemplated hereby or thereby or any action taken or omitted by the Administrative Agent or any
Issuing Bank under or in connection with any of the foregoing; provided that no Bank shall
be liable for the payment of any portion of such liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements resulting solely from the
Administrative Agent’s or Issuing Bank’s, as the case may be, gross negligence or willful
misconduct. The agreements in this subsection shall survive the payment of the Loans, the
Reimbursement Obligations and all other amounts payable hereunder.

          14.8 Administrative Agent in Its Individual Capacity. The Administrative Agent and
its Affiliates may make loans to, accept deposits from and generally engage in any kind of business
with the Company and any of its Subsidiaries as though the Administrative Agent were not the
Administrative Agent hereunder and under the other Credit Documents. With respect to its Loans
made or renewed by it and with respect to any Letter of Credit issued or participated in by it, the
Administrative Agent shall have the same rights and powers under this Agreement and the other
Credit Documents as any Bank and may exercise the same as though it were not the Administrative
Agent, and the terms “Bank” and “Banks” shall include the Administrative Agent in its individual
capacity.

          14.9 Successor Administrative Agent. The Administrative Agent may resign as
Administrative Agent upon 10 days’ notice to the Banks; provided that any such resignation
shall

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not be effective until a successor agent has been appointed and approved in accordance with
this subsection 14.9, and such successor agent has accepted its appointment. If the Administrative
Agent shall resign as Administrative Agent under this Agreement and the other Credit Documents,
then the Required Banks shall appoint from among the Banks a successor administrative agent for the
Banks, which successor agent shall be approved by the Company (which approval shall not be
unreasonably withheld or delayed or be required during the existence of an Event of Default),
whereupon such successor administrative agent shall succeed to the rights, powers and duties of the
Administrative Agent, and the term “Administrative Agent” shall mean such successor agent effective
upon such appointment and approval, and the former Administrative Agent’s rights,
powers and duties as Administrative Agent shall be terminated, without any other or further
act or deed on the part of such former Administrative Agent or any of the parties to this
Agreement. After any retiring Administrative Agent’s resignation as Administrative Agent, the
provisions of this subsection shall inure to its benefit as to any actions taken or omitted to be
taken by it while it was Administrative Agent under this Agreement and the other Credit Documents.

          14.10 The Arranger and Syndication Agents. Each Bank acknowledges that none of the
Arranger and the Syndication Agents, in such respective capacity, shall have any duties or
responsibilities, or shall incur any liabilities, under this Agreement or the other Credit
Documents.

SECTION 15. MISCELLANEOUS

          15.1 Amendments and Waivers.

          (a) Neither this Agreement nor any other Credit Document, nor any terms hereof or thereof may
be amended, supplemented or modified except in accordance with the provisions of this subsection.
The Required Banks may, or, with the written consent of the Required Banks, the Administrative
Agent may, from time to time, (i) enter into with the Loan Parties party thereto written
amendments, supplements or modifications to this Agreement and the other Credit Documents for the
purpose of adding any provisions to this Agreement or the other Credit Documents or changing in any
manner the rights of the Banks or of the Loan Parties hereunder or thereunder or (ii) waive, on
such terms and conditions as the Required Banks or the Administrative Agent, as the case may be,
may specify in such instrument, any of the requirements of this Agreement or the other Credit
Documents or any Default or Event of Default and its consequences; provided,
however, that no such waiver and no such amendment, supplement or modification shall (i)
reduce the amount or extend the scheduled date of maturity of any Loan or reduce the stated rate of
any interest or fee payable hereunder or extend the scheduled date of any payment thereof or
increase the aggregate amount or extend the expiration date of any Bank’s Commitment, in each case
without the consent of each Bank directly affected thereby, or (ii) amend, modify or waive any
provision of this subsection or reduce the percentage specified in the definition of Required
Banks, or consent to the assignment or transfer by the Company of any of its rights and obligations
under this Agreement and the other Credit Documents or amend, modify or waive subsection 8.3(a) or
15.6(a), or amend, modify or waive any other provision hereof specifying the number or percentage
of Banks required to waive, amend or modify any rights hereunder or any determination granting
consent hereunder, or release any Subsidiary from its Subsidiary Guarantee or release the Company
from the Company

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Guarantee, in each case without the written consent of all the Banks, or (iii)
amend, modify or waive any provision of Section 14 without the written consent of the then
Administrative Agent. Any such waiver and any such amendment, supplement or modification shall
apply equally to each of the Banks and shall be binding upon the Company, the Subsidiary Borrowers,
the Banks, the Syndication Agents, the Administrative Agent and all future holders of the Loans.
In the case of any waiver, the Company, the Banks and the Administrative Agent shall be restored to
their former position and rights hereunder and under any other Credit Documents, and any
Default or Event of Default waived shall be deemed to be cured and not continuing; but no such
waiver shall extend to any subsequent or other Default or Event of Default, or impair any right
consequent thereon.

          (b) In addition to amendments effected pursuant to the foregoing paragraph (a), Schedules II,
III and IV may be amended as follows:

          (i) (A) Schedule II will be amended to add Subsidiaries of the Company as
additional Subsidiary Borrowers upon (A) execution and delivery by the Company, any
such Subsidiary Borrower and the Administrative Agent, of a Joinder Agreement
providing for any such Subsidiary to become a Subsidiary Borrower, and (B) delivery
to the Administrative Agent of (1) if reasonably requested by the Administrative
Agent, a legal opinion in respect of such additional Subsidiary Borrower and (2)
such other documents with respect thereto as the Administrative Agent shall
reasonably request. Notwithstanding the provisions of this Section 15.1(b)(i), if
at any time after the Closing Date the Company intends to amend Schedule II to add
an additional Foreign Subsidiary Borrower the Company shall, upon not less than 15
Business Days’ notice, deliver to the Administrative Agent a designation letter
duly executed by the Company and such respective Foreign Subsidiary which shall
designate such Foreign Subsidiary as a Foreign Subsidiary Borrower for purposes of
this Agreement. The Administrative Agent shall promptly notify each Bank of each
such designation by the Company and the identity of the respective Foreign
Subsidiary. If the Company shall designate as a Foreign Subsidiary Borrower
hereunder any Subsidiary not organized under the laws of the United States or any
State thereof, any Bank may, with notice to the Administrative Agent and the
Company, fulfill its Commitment by causing an Affiliate of such Bank to act as the
Bank in respect of such Foreign Subsidiary Borrower.

          (B) As soon as practicable after receiving notice from the Administrative Agent
of the Company’s intent to designate a Foreign Subsidiary as a Foreign Subsidiary
Borrower, and in any event at least 10 Business Days prior to the delivery of an
executed Joinder Agreement pursuant to this Section 15.1(b)(i), for a designated
Foreign Subsidiary Borrower that is organized under the laws of a jurisdiction other
than of the United States or a political subdivision thereof, any Bank that may not
legally lend to, establish credit for the account of and/or do any business
whatsoever with such designated Foreign Subsidiary Borrower directly or through an
Affiliate of such Bank as provided in the immediately preceding paragraph (a
“Protesting Bank”) shall so notify the Company and the Administrative Agent
in writing. With respect to each

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Protesting Bank, the Company shall, effective on or
before the date that such designated Foreign Subsidiary Borrower shall have the
right to borrow hereunder, (A) notify the Administrative Agent and such Protesting
Bank of the designation of a Replacement Bank to assume the Commitments, if any, and
the obligations of such Protesting Bank in accordance with clause (e) below, (B)
notify the Administrative Agent and such Protesting Bank that the Commitments of
such Protesting Bank shall be terminated; provided that such Protesting Bank shall
have received payment of an amount equal to the outstanding principal of its Loans
and/or L/C Obligations, accrued interest thereon, accrued fees and all other amounts
payable to it hereunder, from the assignee (to the extent of such outstanding
principal and accrued interest and fees) or the Company or the relevant designated
Foreign Subsidiary Borrower (in the case of all other amounts), or (C) cancel its
request to designate such Foreign Subsidiary as a Foreign Subsidiary Borrower
hereunder.

          (ii) Schedule II will be amended to remove any Subsidiary as a Subsidiary
Borrower upon (A) execution and delivery by the Company of a Schedule Amendment
providing for such amendment, (b) repayment in full of all outstanding Loans of such
Subsidiary Borrower and (c) cash collateralization of all outstanding Letters of
Credit issued for the account of such Subsidiary Borrower.

          (iii) Schedule III will be amended to designate other Banks as additional or
replacement Swing Line Banks or additional Issuing Banks, upon execution and
delivery by the Company, the Administrative Agent and such additional or replacement
Swing Line Bank or additional Issuing Bank, as the case may be, of a Schedule
Amendment providing for such amendment. In the case of any replacement of a Swing
Line Bank pursuant to a Schedule Amendment, the existing Swing Line Bank replaced
pursuant thereto shall cease to be a Swing Line Bank upon the effectiveness of such
Schedule Amendment and the repayment of all Swing Line Loans owing to such replaced
Swing Line Bank.

          (iv) Schedule III will be amended to change administrative information
(including the Swing Line Rate definition) with respect to Swing Line Banks or
Issuing Banks, upon execution and delivery by the Company, the Administrative Agent
and such Swing Line Bank or Issuing Bank, as the case may be, of a Schedule
Amendment providing for such amendment.

          (v) Schedule IV will be amended to change administrative information contained
therein (other than any interest rate definition, Funding Time, Payment Time or
notice time contained therein) or to add Available Foreign Currencies (and related
interest rate definitions and administrative information), upon execution and
delivery by the Company and the Administrative Agent of a Schedule Amendment
providing for such amendment.

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          (vi) Schedule IV will be amended to conform any Funding Time, Payment Time or
notice time contained therein to then-prevailing market practices, upon execution
and delivery by the Company, the Required Banks and the Administrative Agent of a
Schedule Amendment providing for such amendment.

          (vii) Schedule IV will be amended to change any interest rate definition
contained therein, upon execution and delivery by the Company, all the
Banks and the Administrative Agent of a Schedule Amendment providing for such
amendment.

          (c) The Administrative Agent shall give prompt notice to each Bank of any amendment effect
pursuant to subsection 15.1(b).

          (d) Notwithstanding the provisions of this subsection 15.1, any Local Currency Facility may
be amended, supplemented or otherwise modified in accordance with its terms so long as after giving
effect thereto either (i) such Local Currency Facility ceases to be a “Local Currency Facility” and
the Company so notifies the Administrative Agent or (ii) the Local Currency Facility continues to
meet the requirements of a Local Currency Facility set forth herein.

          (e) The Company may designate a Replacement Bank to assume the Commitments, if any, and the
obligations of any Bank (an “Objecting Bank”) that is a Protesting Bank under clause (b)
above or refuses to consent to (x) an amendment, supplement or waiver that both requires the
consent of all the Banks in order to become effective and is acceptable to one or more other Banks
constituting the Required Banks or (y) any Extension Request, and to purchase the outstanding Loans
of such Objecting Bank and such Objecting Bank’s rights hereunder and with respect thereto, without
recourse upon, or warranty by, or expense to, such Objecting Bank (unless such Objecting Bank
agrees otherwise), for a purchase price equal to the outstanding principal amount of the Loans of
such Objecting Bank plus (i) all interest accrued and unpaid thereon and all other amounts owing to
such Objecting Bank hereunder and (ii) any amount which would be payable to such Objecting Bank
pursuant to subsection 8.8 (assuming that all Loans of such Objecting Bank were prepaid on the date
of such assumption), and upon such assumption and purchase by the Replacement Bank, such
Replacement Bank, if it is not already a Bank, shall be deemed to be a “Bank” for purposes of this
Agreement and such Objecting Bank shall cease to be a “Bank” for purposes of this Agreement and
shall no longer have any obligations or rights hereunder (other than any obligations or rights
which according to this Agreement shall survive the termination of this Agreement).

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

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	The Company:

	 	Arrow Electronics, Inc.
	 

	 	50 Marcus Drive
	 

	 	Melville, New York 11747
	 

	 	Attention: Ira M. Birns
	 

	 	Telecopy: (631) 847-5379
	 

	 	Telephone: (631) 847-1657
	 
	 	 
	The Administrative Agent:

	 	JPMorgan Chase Bank, N.A.
	 

	 	270 Park Avenue, 4th Floor
	 

	 	New York, New York 10017
	 

	 	Attention: Peter Thauer
	 

	 	Telecopy: (212) 270-4584
	 

	 	Telephone: (212) 270-6289
	 
	 	 
	with a copy to:

	 	JPMorgan Chase Bank, N.A.
	 

	 	1111 Fannin, 10th Floor
	 

	 	Houston, Texas 77002
	 

	 	Attention: Maria Giannavola
	 

	 	Telecopy: (713) 750-2629
	 

	 	Telephone: (713) 750-2358
	 
	 	 
	The Subsidiary Borrowers:

	 	c/o Arrow Electronics, Inc
	 

	 	50 Marcus Drive
	 

	 	Melville, New York 11747
	 

	 	Attention: Ira M. Birns
	 

	 	Telecopy: (631) 847-5379
	 

	 	Telephone: (631) 847-1657

; provided that any Notice of Borrowing, Notice of Continuation, Notice of Conversion,
Notice of Swing Line Outstandings, Notice of Swing Line Refunding, Notice of Local Currency
Outstandings, Notice of Prepayment, Notice of Swing Line or Borrowing, or any notice pursuant to
subsections 2.4, 5.2 or 8.16 shall not be effective until received.

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

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

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          15.5 Payment of Expenses and Taxes.

          The Company agrees (a) to pay or reimburse the Administrative Agent and the Arranger for all
its reasonable out-of-pocket costs and expenses incurred in connection with the development,
preparation and execution of, and any amendment, supplement or modification to, this Agreement and
the other Credit Documents and any other documents prepared in connection herewith or therewith,
and the consummation and administration of the transactions contemplated hereby and thereby,
including, without limitation, the fees and disbursements of counsel to the Administrative Agent
and the Arranger, (b) to pay or reimburse each Bank and the Administrative Agent and any Issuing
Bank for all its reasonable costs and expenses incurred in connection with the enforcement or
preservation of any rights under this Agreement, the other Credit Documents and any such other
documents upon the occurrence of an Event of Default, including, without limitation, the fees and
disbursements of counsel to the Administrative Agent and to the several Banks and any Issuing Bank
(including the allocated fees and expenses of in-house counsel), and (c) to pay, indemnify, and
hold each Bank, each Agent, the Arranger and the Administrative Agent and any Issuing Bank harmless
from, any and all recording and filing fees and any and all liabilities with respect to, or
resulting from any delay in paying, stamp, excise and other taxes, if any, which may be payable or
determined to be payable in connection with the execution and delivery of, or consummation or
administration of any of the transactions contemplated by, or any amendment, supplement or
modification of, or any waiver or consent under or in respect of, this Agreement, the other Credit
Documents and any such other documents, and (d) to pay, indemnify, and hold each Bank, each Agent,
the Arranger and the Administrative Agent and any Issuing Bank (and their respective directors,
officers, employees and agents) (collectively, the “indemnified person”) harmless from and against
any and all other liabilities, obligations, losses, damages, penalties, actions, judgments, suits,
costs, expenses or disbursements of any kind or nature whatsoever with respect to the execution,
delivery, enforcement, performance and administration of this Agreement, the other Credit Documents
and any such other documents, including, without limitation, any of the foregoing relating to the
use of proceeds of the Loans or the violation of, noncompliance with or liability under, any
Environmental Law applicable to the operations of the Company, any of its Subsidiaries or any of
the Properties (it being understood that costs and expenses incurred in connection with the
enforcement or preservation of rights under this Agreement and the other Credit Documents shall be
paid or reimbursed in accordance with clause (b) above rather than this clause (d)) (all the
foregoing in this clause (d), collectively, the “indemnified liabilities”), provided, that
the Company shall have no obligation hereunder to any indemnified person with respect to
indemnified liabilities to the extent such indemnified liabilities are found by final,
nonappealable decision of a court of competent jurisdiction to have resulted from the gross
negligence or willful misconduct of such indemnified person. Without limiting the foregoing, and
to the extent permitted by applicable law, the Company agrees not to assert and to cause its
Subsidiaries not to assert, and hereby waives and agrees to cause its Subsidiaries to waive, all
rights for contribution or any other rights of recovery with respect to all claims, demands,
penalties, fines, liabilities, settlements, damages, costs and expenses of whatever kind or nature,
under or related to Environmental Laws, that any of them might have by statute or otherwise
against any indemnified person. Any payments required to be mad
e by the Company under this
subsection 15.5 shall be made within 30 days of the demand therefor. The agreements in this
subsection shall survive repayment of the Loans and all other amounts payable hereunder.

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          15.6 Successors and Assigns; Participations and Assignments.

          (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby (including any
affiliate of the Issuing Bank that issues any Letter of Credit), except that (i) no Specified
Borrower may assign or otherwise transfer any of its rights or obligations hereunder without the
prior written consent of each Bank (and any attempted assignment or transfer by a Specified
Borrower without such consent shall be null and void) and (ii) no Bank may assign or otherwise
transfer its rights or obligations hereunder except in accordance with this Section.

          (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Bank may assign
to one or more assignees (each, an “Assignee”) all or a portion of its rights and
obligations under this Agreement (including all or a portion of its Commitments and the Loans at
the time owing to it) with the prior written consent of:

     (A) the Company (such consent not to be unreasonably withheld), provided that
no consent of the Company shall be required for an assignment to a Bank, an affiliate of a
Bank, an Approved Fund (as defined below) or, if an Event of Default under Section 13(a),
13(c) or 13(g) has occurred and is continuing, any other Person; and

     (B) the Administrative Agent; and

     (C) the Issuing Bank (in the case of assignments of the Revolving Loans)

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

     (A) except in the case of an assignment to a Bank, an affiliate of a Bank or an
Approved Fund or an assignment of the entire remaining amount of the assigning Bank’s
Commitments or Loans under any Facility, the amount of the Commitments or Loans of the
assigning Bank subject to each such assignment (determined as of the date the Assignment and
Assumption with respect to such assignment is delivered to the Administrative Agent) shall
not be less than $5,000,000 unless each of the Company and the Administrative Agent
otherwise consent, provided that (1) no such consent of the Company shall be
required if an Event of Default under Section 13(a), 13(c) or 13(g) has occurred and is
continuing and (2) such amounts shall be aggregated in respect of each Bank and its
affiliates or Approved Funds, if any; provided further that after giving
effect to any such assignment, the transferor Bank’s aggregate Dollar Equivalent Amount of
its Local Currency Bank Maximum Borrowing Amount under all Local Currency Facilities may not
exceed its Commitment hereunder;

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

     (C) the Assignee, if it shall not be a Bank, shall deliver to the Administrative Agent
an administrative questionnaire.

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          For the purposes of this Section 15.6, “Approved Fund” means any Person (other than a
natural person) that is engaged in making, purchasing, holding or investing in bank loans and
similar extensions of credit in the ordinary course of its business and that is administered or
managed by (a) a Bank, (b) an affiliate of a Bank or (c) an entity or an affiliate of an entity
that administers or manages a Bank.

          (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) below, from
and after the effective date specified in each Assignment and Assumption the Assignee thereunder
shall be a party hereto and, to the extent of the interest assigned by such Assignment and
Assumption, have the rights and obligations of a Bank under this Agreement, and the assigning Bank
thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be
released from its obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Bank’s rights and obligations under this Agreement, such
Bank shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections
8.5, 8.6, 8.8 and 15.5). Any assignment or transfer by a Bank of rights or obligations under this
Agreement that does not comply with this Section 15.6 shall be treated for purposes of this
Agreement as a sale by such Bank of a participation in such rights and obligations in accordance
with paragraph (c) of this Section.

          (iv) The Administrative Agent, acting for this purpose as an agent of the Company, shall
maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a
register for the recordation of the names and addresses of the Banks, and the Commitments of, and
principal amount of the Loans and L/C Obligations owing to, each Bank pursuant to the terms hereof
from time to time (the “Register”). The entries in the Register shall be conclusive, and
the Company, the Administrative Agent, the Issuing Bank and the Banks may treat each Person whose
name is recorded in the Register pursuant to the terms hereof as a Bank hereunder for all purposes
of this Agreement, notwithstanding notice to the contrary. The Register shall be available for
inspection by the Company, the Issuing Bank and any Bank, at any reasonable time and from time to
time upon reasonable prior notice.

          (v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning
Bank and an Assignee, the Assignee’s completed administrative questionnaire (unless the Assignee
shall already be a Bank hereunder), the processing and recordation fee referred to in paragraph (b)
of this Section and any written consent to such assignment required by paragraph (b) of this
Section, the Administrative Agent shall accept such Assignment and Assumption and record the
information contained therein in the Register. No assignment shall be effective for purposes of
this Agreement unless it has been recorded in the Register as provided in this paragraph.

          (c) (i) Any Bank may, without the consent of the Borrower, the Administrative Agent or the
Issuing Bank, sell participations to one or more banks or other entities (a “Participant”)
in all or a portion of such Bank’s rights and obligations under this Agreement (including all or a
portion of its Commitments and the Loans owing to it); provided that (A) such Bank’s
obligations under this Agreement shall remain unchanged, (B) such Bank shall remain solely
responsible to the other parties hereto for the performance of such obligations and (C) the
Company, the Administrative Agent, the Issuing Bank and the other Banks shall continue to deal
solely and directly with such Bank in connection with such Bank’s rights and obligations under

2007 Arrow Electronics Credit Agreement

 

 

89

this Agreement. Any agreement pursuant to which a Bank sells such a participation shall provide that
such Bank shall retain the sole right to enforce this Agreement and to approve any amendment,
modification or waiver of any provision of this Agreement; provided that such agreement may
provide that such Bank will not, without the consent of the Participant, agree to any amendment,
modification or waiver that (1) requires the consent of each Bank directly affected thereby
pursuant to the proviso to the second sentence of Section 15.1 and (2) directly affects such
Participant. Subject to paragraph (c)(ii) of this Section, the Borrower agrees that each
Participant shall be entitled to the benefits of Sections 8.5, 8.6 and 8.8 to the same extent as if
it were a Bank and had acquired its interest by assignment pursuant to paragraph (b) of this
Section. To the extent permitted by law, each Participant also shall be entitled to the benefits
of Section 15.7(b) as though it were a Bank, provided such Participant shall be subject to Section
15.7(a) as though it were a Bank.

          (ii) A Participant shall not be entitled to receive any greater payment under Section 8.5 or
8.6 than the applicable Bank would have been entitled to receive with respect to the participation
sold to such Participant, unless the sale of the participation to such Participant is made with the
Borrower’s prior written consent. Any Participant that is a Non-U.S. Bank shall not be entitled to
the benefits of Section 8.6 unless such Participant complies with such Section.

          (d) Any Bank may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement to secure obligations of such Bank, including any pledge or
assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any
such pledge or assignment of a security interest; provided that no such pledge or
assignment of a security interest shall release a Bank from any of its obligations hereunder or
substitute any such pledgee or Assignee for such Bank as a party hereto.

          (e) The Borrower, upon receipt of written notice from the relevant Bank, agrees to issue
Notes to any Bank requiring Notes to facilitate transactions of the type described in paragraph (d)
above.

          (f) Notwithstanding the foregoing, any Conduit Bank may assign any or all of the Loans it may
have funded hereunder to its designating Bank without the consent of the Company or the
Administrative Agent and without regard to the limitations set forth in Section 15.6(b). Each of
the Company, each Bank and the Administrative Agent hereby confirms that it will not institute
against a Conduit Bank or join any other Person in instituting against a Conduit Bank any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding under any state
bankruptcy or similar law, for one year and one day after the payment in full of the latest
maturing commercial paper note issued by such Conduit Bank; provided, however, that each
Bank designating any Conduit Bank hereby agrees to indemnify, save and hold harmless each
other party hereto for any loss, cost, damage or expense arising out of its inability to
institute such a proceeding against such Conduit Bank during such period of forbearance.

          15.7 Adjustments; Set-off.

          (a) If any Bank (a “benefitted Bank”) shall at any time receive any payment of all or
part of its Loans or the Reimbursement Obligations then due and owing to it, or interest thereon,
or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set- 

2007 Arrow Electronics Credit Agreement

 

 

90

off, pursuant to events or proceedings of the nature referred to in Section 13(g), or otherwise), in a
greater proportion than any such payment to or collateral received by any other Bank, if any, in
respect of such other Bank’s Loans or the Reimbursement Obligations then due and owing to it, or
interest thereon, such benefitted Bank shall purchase for cash from the other Banks a participating
interest in such portion of each such other Bank’s Loan or the Reimbursement Obligations owing to
it, or shall provide such other Banks with the benefits of any such collateral, or the proceeds
thereof, as shall be necessary to cause such benefitted Bank to share the excess payment or
benefits of such collateral or proceeds ratably with each of the Banks; provided,
however, that if all or any portion of such excess payment or benefits is thereafter
recovered from such benefitted Bank, such purchase shall be rescinded, and the purchase price and
benefits returned, to the extent of such recovery, but without interest. Each of the Company and
the Subsidiary Borrowers agrees that each Bank so purchasing a portion of another Bank’s Loan may
exercise all rights of payment (including, without limitation, rights of set-off) with respect to
such portion as fully as if such Bank were the direct holder of such portion.

          (b) In addition to any rights and remedies of the Banks provided by law, each Bank shall have
the right, without prior notice to the Company or any Subsidiary Borrower, any such notice being
expressly waived by the Company and the Subsidiary Borrowers to the extent permitted by applicable
law, upon any amount becoming due and payable by the Company hereunder or under this Agreement or
the other Credit Documents (whether at the stated maturity, by acceleration or otherwise) to
set-off and appropriate and apply against such amount any and all deposits (general or special,
time or demand, provisional or final), in any currency, and any other credits, indebtedness or
claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured
or unmatured, at any time held or owing by such Bank or any branch or agency thereof to or for the
credit or the account of the Company or such Subsidiary Borrower, as the case may be. Each Bank
agrees promptly to notify the Company and the Administrative Agent after any such set-off and
application made by such Bank, provided that the failure to give such notice shall not
affect the validity of such set-off and application.

          15.8 Power of Attorney. Each Subsidiary Borrower hereby grants to the Company an
irrevocable power of attorney to act as its attorney-in-fact with regard to matters relating to
this Agreement, the Applications and each other Credit Document, including, without limitation,
execution and delivery of any amendments, supplements, waivers or other modifications hereto or
thereto, receipt of any notices hereunder or thereunder and receipt of service of process in
connection herewith or therewith. Each Subsidiary Borrower hereby explicitly acknowledges that the
Administrative Agent and each Bank has executed and delivered this Agreement and each other Credit
Document to which it is a party, and has performed its obligations under this Agreement and each
other Credit Document to which it is a party, in reliance upon the irrevocable grant of such power
of attorney pursuant to this subsection 15.8. The power of attorney granted by each Subsidiary
Borrower hereunder is coupled with an interest.

          15.9 Judgment.

          (a) If for the purpose of obtaining judgment in any court it is necessary to convert a sum
due hereunder in one currency into another currency, the parties hereto agree, to the fullest

2007 Arrow Electronics Credit Agreement

 

 

91

extent that they may effectively do so, that the rate of exchange used shall be that at which in
accordance with normal banking procedures the Administrative Agent could purchase the first
currency with such other currency on the Business Day preceding the day on which final judgment is
given.

          (b) The obligation of the Company or any Subsidiary Borrower in respect of any sum due to any
Bank or the Administrative Agent hereunder shall, notwithstanding any judgment in a currency (the
“Judgment Currency”) other than that in which such sum is denominated in accordance with
the applicable provisions of this Agreement or the other Credit Documents (the “Agreement
Currency”), be discharged only to the extent that on the Business Day following receipt by such
Bank or the Administrative Agent (as the case may be) of any sum adjudged to be so due in the
Judgment Currency such Bank or the Administrative Agent (as the case may be) may in accordance with
normal banking procedures purchase the Agreement Currency with the Judgment Currency; if the amount
of the Agreement Currency so purchased is less than the sum originally due to such Bank or the
Administrative Agent (as the case may be) in the Agreement Currency, the Company or such Subsidiary
Borrower (as the case may be) agrees, as a separate obligation and notwithstanding any such
judgment, to indemnify such Bank or the Administrative Agent (as the case may be) against such
loss, and if the amount of the Agreement Currency so purchased exceeds the sum originally due to
any Bank or the Administrative Agent (as the case may be), such Bank or the Administrative Agent
(as the case may be) agrees to remit to the Company or such Subsidiary Borrower (as the case may
be) such excess.

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

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

          15.12 Integration. This Agreement and the other Credit Documents represent the
agreement of the Company, the Subsidiary Borrowers, the Syndication Agents, the Administrative
Agent and the Banks with respect to the subject matter hereof, and there are no promises,
undertakings, representations or warranties by the Administrative Agent or any Bank relative to
subject matter hereof not expressly set forth or referred to herein or in the other Credit
Documents.

          15.13 GOVERNING LAW. THIS AGREEMENT AND THE OTHER CREDIT DOCUMENTS (OTHER THAN ANY
LOCAL CURRENCY FACILITY) AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT AND THE
OTHER CREDIT DOCUMENTS (OTHER THAN ANY LOCAL CURRENCY FACILITY) SHALL BE GOVERNED BY, AND CONSTRUED
AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

2007 Arrow Electronics Credit Agreement

 

 

92

          15.14 Submission To Jurisdiction; Waivers.

          (a) Each of the Company and the Subsidiary Borrowers hereby irrevocably and unconditionally:

          (i) submits for itself and its property in any legal action or proceeding
relating to this Agreement and the other Credit Documents to which it is a party, or
for recognition and enforcement of any judgment in respect thereof, to the
non-exclusive general jurisdiction of the Courts of the State of New York, the
courts of the United States of America for the Southern District of New York, and
appellate courts from any thereof;

          (ii) consents that any such action or proceeding may be brought in such courts
and waives any objection that it may now or hereafter have to the venue of any such
action or proceeding in any such court or that such action or proceeding was brought
in an inconvenient court and agrees not to plead or claim the same;

          (iii) agrees that service of process in any such action or proceeding may be
effected by mailing a copy thereof by registered or certified mail (or any
substantially similar form of mail), postage prepaid, to the Company at its address
set forth in subsection 15.2 or at such other address of which the Administrative
Agent shall have been notified pursuant thereto;

          (iv) agrees that nothing herein shall affect the right to effect service of
process in any other manner permitted by law or shall limit the right to sue in any
other jurisdiction; and

          (v) waives, to the maximum extent not prohibited by law, any right it may have
to claim or recover in any legal action or proceeding referred to in this subsection
any special, exemplary, punitive or consequential damages.

          (b) Each Subsidiary Borrower hereby irrevocably appoints the Company as its agent for service
of process in any proceeding referred to in subsection 15.14(a) and agrees that service of process
in any such proceeding may be made by mailing or delivering a copy thereof to it care of the
Company at its address for notice set forth in subsection 15.2.

          15.15 Acknowledgements. Each of the Company and the Subsidiary Borrowers hereby
acknowledges that:

     (a) it has been advised by counsel in the negotiation, execution and delivery of this
Agreement and the other Credit Documents;

     (b) none of the Syndication Agents, the Administrative Agent or any Bank has any
fiduciary relationship with or duty to the Company and the Subsidiary Borrowers arising out
of or in connection with this Agreement or any of the other Credit Documents, and the
relationship between the Syndication Agents, the Administrative Agent and the

2007 Arrow Electronics Credit Agreement

 

 

93

Banks, on one hand, and the Company and the Subsidiary Borrowers, on the other hand, in connection
herewith or therewith is solely that of debtor and creditor; and

     (c) no joint venture is created hereby or by the other Credit Documents or otherwise
exists by virtue of the transactions contemplated hereby among the Banks or among the
Company and the Subsidiary Borrowers and the Banks.

          15.16 WAIVERS OF JURY TRIAL. THE COMPANY, THE SUBSIDIARY BORROWERS, THE SYNDICATION
AGENTS, THE ADMINISTRATIVE AGENT AND THE BANKS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL
BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT
AND FOR ANY COUNTERCLAIM THEREIN.

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

2007 Arrow Electronics Credit Agreement

 

 

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

	 	 	 	 	 
	 	ARROW ELECTRONICS, INC.

 	 
	 	By:  	/s/ Paul J. Reilly
 	 
	 	 	Name:  	Paul J. Reilly 	 
	 	 	Title:  	Director 	 
	 
	 	ARROW EUROPE GMBH

 	 
	 	By:  	/s/ Paul J. Reilly
 	 
	 	 	Name:  	Paul J. Reilly 	 
	 	 	Title:  	Director 	 
	 
	 	ARROW CENTRAL EUROPE GMBH

 	 
	 	By:  	/s/ Paul J. Reilly
 	 
	 	 	Name:  	Paul J. Reilly 	 
	 	 	Title:  	Director 	 
	 
	 	ARROW ELECTRONICS (UK) LTD.

 	 
	 	By:  	/s/ Paul J. Reilly
 	 
	 	 	Name:  	Paul J. Reilly 	 
	 	 	Title:  	Director 	 
	 
	 	ARROW FRANCE S.A.

 	 
	 	By:  	/s/ Peter S. Brown
 	 
	 	 	Name:  	Peter S. Brown 	 
	 	 	Title:  	Director 	 
	 
	 	ARROW NORDIC COMPONENTS AB

 	 
	 	By:  	/s/ Peter S. Brown
 	 
	 	 	Name:  	Peter S. Brown 	 
	 	 	Title:  	Director 	 

2007 Arrow Electronics Credit Agreement

 

 

	 	 	 	 	 
	 	MICROTRONICA UK 

 	 
	 	By:  	/s/ Paul J. Reilly
 	 
	 	 	Name:  	Paul J. Reilly 	 
	 	 	Title:  	Director 	 
	 
	 	B.V. ARROW ELECTRONICS DLC

 	 
	 	By:  	/s/ Paul J. Reilly
 	 
	 	 	Name:  	Paul J. Reilly 	 
	 	 	Title:  	Director 	 
	 
	 	ARROW ASIA PAC LTD.

 	 
	 	By:  	/s/ Paul J. Reilly
 	 
	 	 	Name:  	Paul J. Reilly 	 
	 	 	Title:  	Director 	 
	 
	 	COMPONENTS AGENT (CAYMAN) LTD.

 	 
	 	By:  	/s/ Paul J. Reilly
 	 
	 	 	Name:  	Paul J. Reilly 	 
	 	 	Title:  	Director 	 

- 95 -

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as

Administrative Agent, as an Agent and as a Bank

 	 
	 	By:  	/s/ Peter B. Thauer
 	 
	 	 	Name:  	Peter B. Thauer 	 
	 	 	Title:  	Vice President 	 

- 96 -

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a Syndication

Agent and as a Bank

 	 
	 	By:  	/s/ Thomas R. Sullivan
 	 
	 	 	Name:  	Thomas R. Sullivan 	 
	 	 	Title:  	Vice President 	 
	 
	 	THE BANK OF NOVA SCOTIA, as a Syndication 

Agent and as a Bank

 	 
	 	By:  	/s/ Ajit Goswami
 	 
	 	 	Name:  	Ajit Goswami 	 
	 	 	Title:  	Director 	 
	 
	 	BNP PARIBAS, as Syndication Agent and as a

Bank

 	 
	 	By:  	/s/ Richard Dacosta
 	 
	 	 	Name:  	Richard Dacosta 	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	/s/ Betangere Allen
 	 
	 	 	Name:  	Betangere Allen 	 
	 	 	Title:  	Vice President 	 
	 
	 	WACHOVIA BANK NATIONAL 

ASSOCIATION, as Syndication Agent and as a

Bank

 	 
	 	By:  	/s/ C. Jeffrey Seaton
 	 
	 	 	Name:  	C. Jeffrey Seaton 	 
	 	 	Title:  	Managing Director 	 

- 97 -

 

	 	 	 	 	 
	 	Credit Industrial et Commercial, as a Bank

(name of institution)

 	 
	 	By:  	/s/ Etienne Deslauriers
 	 
	 	Name:	Etienne Deslauriers 	 
	 	Title:	Dpt Ingenierie et Montage Bancaire 	 
	 
	 	 	 
	 	By:  	/s/ Michael Tailliez
 	 
	 	Name:  	Michael Tailliez 	 
	 	Title:  	Dpt Ingenierie et Montage Bancaire 	 
	 

2007 Arrow Electronics Credit Agreement

 

 

	 	 	 	 	 
	 	Credit Suisse, Cayman Islands Branch as a Bank

 	 
	 	By:  	/s/ Alain Deoust
 	 
	 	Name:  	Alain Deoust 	 
	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	/s/ Denise L. Alvarez
 	 
	 	Name:  	Denise L. Alvarez 	 
	 	Title:  	Associate 	 

- 99 -

 

	 	 	 	 	 
	 	HSBC Bank USA, National Association, as a Bank

 	 
	 	By:  	/s/ Lawrence Li
 	 
	 	Name:  	Lawrence Li 	 
	 	Title:  	Vice President 	 

- 100 -

 

	 	 	 	 	 
	 	MIZUHO CORPORATE BANK, LTD., as a Bank

 	 
	 	By:  	/s/ Bertram Tang
 	 
	 	Name:  	Bertram Tang 	 
	 	Title:  	Senior Vice President & Team Leader 	 

- 101 -

 

	 	 	 	 	 
	 	MORGAN STANLEY BANK, as a Bank

 	 
	 	By:  	/s/ Daniel Twenge
 	 
	 	Name:  	Daniel Twenge 	 
	 	Title:  	Authorized Signatory 	 

- 102 -

 

	 	 	 	 	 
	 	Standard Chartered Bank, as a Bank

 	 
	 	By:  	/s/ Maria Carolina Torres
 	 
	 	Name:  	Maria Carolina Torres A2390 	 
	 	Title:  	Syndications, Capital Markets 	 
	 
	 	 	 
	 	By:  	/s/ Robert K. Reddington
 	 
	 	Name:  	Robert K. Reddington 	 
	 	Title:  	AVP/Credit Documentation

Credit Risk Control 	 

- 103 -

 

	 	 	 	 	 
	 	The Bank of Tokyo-Mitsubishi UFJ, Ltd.

New York Branch, as a Bank

 	 
	 	By:  	/s/ Chi-Cheng Chen
 	 
	 	Name:  	Chi-Cheng Chen 	 
	 	Title:  	Authorized Signatory 	 

- 104 -

 

	 	 	 	 	 
	 	WILLIAM STREET COMMITMENT 

CORPORATION (Recourse only to assets of

William Street Commitment Corporation),

as a Bank

 	 
	 	By:  	/s/ Mark Walton
 	 
	 	Name:  	Mark Walton 	 
	 	Title:  	Assistant Vice President 	 

- 105 -

 

	 	 	 	 	 
	 	Bank of China, New York Branch, as a Bank

 	 
	 	By:  	/s/ Xiaojing Li
 	 
	 	Name:  	Xiaojing Li 	 
	 	Title:  	General Manager 	 

- 106 -

 

	 	 	 	 	 
	 	Danske Bank A/S, Denmark, Sweden Branch, as a

Bank

 	 
	 	By:  	/s/ Bjorn Serrander
 	 
	 	Name:  	Bjorn Serrander 	 
	 
	 	 	 
	 	By:  	/s/ Henrik Huttemeier
 	 
	 	Name:  	Henrik Huttemeier 	 
	 	 	 	 

- 107 -

 

	 	 	 	 	 
	 	KeyBank N.A., as a Bank

 	 
	 	By:  	/s/ Daniel J. Fosina
 	 
	 	Name:  	Daniel J. Fosina 	 
	 	Title:  	Vice President, Sr. Relationship Manager 	 

- 108 -

 

	 	 	 	 	 
	 	North Fork Bank, as a Bank

 	 
	 	By:  	/s/ Philip Davi
 	 
	 	Name:  	Philip Davi 	 
	 	Title:  	Senior Vice President 	 

- 109 -

 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL

ASSOCIATION, as a Bank

 	 
	 	By:  	/s/ Jordan Fragiacomo
 	 
	 	Name:  	Jordan Fragiacomo 	 
	 	Title:  	Vice President 	 
	 

- 110 -EX-10.O.XV

 

Exhibit
10(o)(xv)

AMENDMENT NO. 14 TO TRANSFER AND ADMINISTRATION AGREEMENT

     AMENDMENT NO. 14 TO TRANSFER AND ADMINISTRATION AGREEMENT, dated as of October 31, 2006 (this
“Amendment”), to that certain Transfer and Administration Agreement dated as of March 21,
2001, as amended by Amendment No. 1 to Transfer and Administration Agreement dated as of November
30, 2001, Amendment No. 2 to Transfer and Administration Agreement dated as of December 14, 2001,
Amendment No. 3 to Transfer and Administration Agreement dated as of March 20, 2002, Amendment No.
4 to Transfer and Administration Agreement dated as of March 29, 2002, Amendment No. 5 to Transfer
and Administration Agreement dated as of May 22, 2002, Amendment No. 6 and Limited Waiver to
Transfer and Administration Agreement dated as of September 27, 2002, Amendment No. 7 to Transfer
and Administration Agreement dated as of February 19, 2003, Amendment No. 8 to Transfer and
Administration Agreement dated as of April 14, 2003, Amendment No. 9 to Transfer and Administration
Agreement dated as of August 13, 2003, Amendment No. 10 to Transfer and Administration Agreement
dated as of February 18, 2004, Amendment No. 11 to Transfer and Administration Agreement dated as
of August 13, 2004, Amendment No. 12 to Transfer and Administration Agreement dated as of February
14, 2005 and Amendment No. 13 to Transfer and Administration Agreement dated as of February 13,
2006 (as so amended and in effect, the “TAA”), by and among Arrow Electronics Funding
Corporation, a Delaware corporation (the “SPV”), Arrow Electronics, Inc., a New York
corporation, individually (“Arrow”) and as the initial Master Servicer, the several
commercial paper conduits identified on Schedule A to the TAA and their respective permitted
successors and assigns (the “Conduit Investors”; each individually, a “Conduit
Investor”), the agent bank set forth opposite the name of each Conduit Investor on such
Schedule A and its permitted successors and assigns (each a “Funding Agent”) with respect
to such Conduit Investor, and Bank of America, National Association, a national banking
association, as the administrative agent for the Investors (the “Administrative Agent”),
and the financial institutions from time to time parties thereto as Alternate Investors.
Capitalized terms used and not otherwise defined herein have the meanings assigned to such terms in
the TAA.

PRELIMINARY STATEMENTS:

     WHEREAS, the SPV, Arrow, the Conduit Investors, the Funding Agents, the Alternate Investors
and the Administrative Agent have entered into the TAA;

     WHEREAS, the SPV and Arrow have requested that the Conduit Investors, the Funding Agents, the
Alternate Investors and the Administrative Agent agree to make certain changes and amendments to
the TAA; and

     WHEREAS, subject to the terms and conditions set forth herein, the Conduit Investors, the
Alternate Investors, the Funding Agents and the Administrative Agent are willing to make such
changes and amendments to the TAA.

 

 

 - 2 -

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

     SECTION 1. Amendments to the TAA. Effective as of the date hereof and subject to the
satisfaction of the conditions precedent set forth in Section 4 hereof, the TAA is hereby amended
as follows:

          Section 1.1. Section 1.1 is amended by amending and restating the definition of “Receivable,”
such definition to read in its entirety as follows:

     “Receivable” means any indebtedness and other obligations owed by any
Obligor to HP, in the case of HP Purchased Receivables, or an Originator (without
giving effect to any transfer under the First Tier Agreement or any Originator Sale
Agreement or the HP Receivables Purchase Agreement) under a Contract or any right of
the SPV to payment from or on behalf of an Obligor, whether constituting an account,
chattel paper, instrument or general intangible, (i) arising in connection with the
sale or lease of goods or the rendering of services in the ordinary course of
business by such Originator or HP, and includes the obligation to pay any finance
charges, fees and other charges with respect thereto,(ii) denominated in Dollars and
payable only in the United States or Canada, (iii) the Obligors of which are United
States or Canadian residents and are not an Official Body, (iv) which are not
Gates/Synnex Receivables, (v) which are not Receivables owed by SPX Corp., by Actron
Manufacturing Company (a subsidiary of SPX Corp.) or any success thereto; and (vi)
which are not Jabil/Branch WJ Receivables.

     Section 1.2. Section 1.1 is amended to add the following defined term:

     “Jabil/Branch WJ Receivable” means all indebtedness and other
obligations, whether constituting accounts, chattel paper, instruments or general
intangibles, which are due and payable by Jabil Circuit Inc. and are generated and
maintained in the Originator’s entering branch “WJ” and with respect to which
payments are not made to or deposited in the Collection Account.

          Section 1.3. Section 6.1 is amended by adding the following clause (r) at the end of such
section:

     (r) Jabil/Branch WJ Receivables. Neither the SPV or the Master
Servicer shall change, modify or amend, or consent to any change, modification or
amendment by the Originator, of the manner in which Jabil/Branch WJ Receivables are
identified in their respective accounts receivable reporting systems.

 

 

 - 3 -

     SECTION 2. Waiver. The Administrative Agent, the Funding Agents, each Conduit
Investor and each Alternate Investor by execution of this Amendment agree to waive the Termination
Event under Section 8.1(f) of the TAA and a Master Servicer Default under Section
7.5(a)(ii) of the TAA occurring as a result of a failure to deliver a Master Servicer Report
under Section 2.8(i) of the TAA for the week ending September 1, 2006.

     SECTION 3. Representations and Warranties of the SPV and Arrow. To induce the Conduit
Investors, Alternate Investors, the Funding Agents and the Administrative Agent to enter into this
Amendment, the SPV and Arrow each makes the following representations and warranties (which
representations and warranties shall survive the execution and delivery of this Amendment) as of
the date hereof, after giving effect to the amendments set forth herein:

          Section 3.1. Authority. The SPV and Arrow each has the requisite corporate power,
authority and legal right to execute and deliver this Amendment and to perform its obligations
hereunder and under the Transaction Documents, including the TAA (as modified hereby). The
execution, delivery and performance by the SPV and Arrow of this Amendment and their performance of
the Transaction Documents, including the TAA (as modified hereby), have been duly approved by all
necessary corporate action and no other corporate proceedings are necessary to consummate such
transactions.

          Section 3.2. Enforceability. This Amendment has been duly executed and delivered by
the SPV and Arrow. This Amendment is the legal, valid and binding obligation of the SPV and Arrow,
enforceable against the SPV and Arrow in accordance with its terms, subject to applicable
bankruptcy, insolvency, moratorium or other similar laws affecting the rights of creditors
generally and the application of general principles of equity (regardless of whether considered in
a proceeding at law or in equity). The making and delivery of this Amendment and the performance
of the Agreement, as amended by this Amendment, do not violate any provision of law or any
regulation (except to the extent that the violation thereof could not, in the aggregate, be
expected to have a Material Adverse Effect or a material adverse effect on the condition (financial
or otherwise), business or properties of Arrow and the other Originators, taken as a whole), or its
charter or by-laws, or result in the breach of or constitute a default under or require any consent
under any indenture or other agreement or instrument to which it is a party or by which it or any
of its properties may be bound or affected.

          Section 3.3. Representations and Warranties. The representations and warranties
contained in the Transaction Documents are true and correct on and as of the date hereof as though
made on and as of the date hereof after giving effect to this Amendment.

          Section 3.4. No Termination Event. After giving effect to this Amendment, no event
has occurred and is continuing that constitutes a Termination Event or a Potential Termination
Event.

 

 

 - 4 -

     SECTION 4. Conditions Precedent. This Amendment shall become effective, as of the
date hereof, on the date on which the following conditions precedent shall have been fulfilled:

          Section 4.1. This Amendment. The Administrative Agent shall have received counterparts
of this Amendment, duly executed by each of the parties hereto.

          Section 4.2. Additional Documents. The Administrative Agent shall have received all
additional approvals, certificates, documents, instruments and items of information as the
Administrative Agent may reasonably request and all of the foregoing shall be in form and substance
reasonably satisfactory to the Administrative Agent and each Funding Agent.

     SECTION 5. References to and Effect on the Transaction Documents.

          Section 5.1. Except as specifically amended and modified hereby, each Transaction Document is
and shall continue to be in full force and effect and is hereby in all respects ratified and
confirmed.

          Section 5.2. The execution, delivery and effectiveness of this Amendment shall not operate as
a waiver of any right, power or remedy of any Investor, Funding Agent or the Administrative Agent
under any Transaction Document, nor constitute a waiver, amendment or modification of any provision
of any Transaction Document, except as expressly provided in Sections 1 and 2 hereof.

          Section 5.3. This Amendment contains the final and complete integration of all prior
expressions by the parties hereto with respect to the subject matter hereof and shall constitute
the entire agreement among the parties hereto with respect to the subject matter hereof superseding
all prior oral or written understandings.

          Section 5.4. Each reference in the TAA to “this Agreement”, “hereunder”, “hereof” or words of
like import, and each reference in any other Transaction Document to “the Transfer and
Administration Agreement”, “thereunder”, “thereof” or words of like import, referring to the
Agreement, shall mean and be a reference to the Agreement as amended hereby.

 

 

 - 5 -

     SECTION 6. Execution in Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed to be an original and all of which taken together shall
constitute but one and the same agreement. Delivery of an executed counterpart of a signature page
to this Amendment by telefacsimile shall be effective as delivery of a manually executed
counterpart of this Amendment.

     SECTION 7. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     SECTION 8. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES ANY RIGHT
TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR
OTHERWISE, AMONG ANY OF THEM ARISING OUT OF, CONNECTED WITH, RELATING TO OR INCIDENTAL TO THE
RELATIONSHIP BETWEEN THEM IN CONNECTION WITH THIS AMENDMENT OR ANY OTHER TRANSACTION DOCUMENT.

 

 

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

	 	 	 	 	 
	 	Arrow Electronics Funding Corporation,

as SPV

 	 
	 	By:  	/s/ Ira Birns
 	 
	 	 	Name:  	Ira Birns                           	 
	 	 	Title:  	President 	 
	 
	 	Arrow Electronics, Inc.,

individually and as Master Servicer

 	 
	 	By:  	/s/ Ira Birns
 	 
	 	 	Name:  	Ira Birns                           	 
	 	 	Title:  	Vice President & Treasurer 	 
	 
	 	Kitty Hawk Funding Corporation,

as a Conduit Investor

 	 
	 	By:  	/s/ Amy S. Keeth
 	 
	 	 	Name:  	Amy S. Keeth                           	 
	 	 	Title:  	Vice President 	 
	 
	 	Bank of America, National Association,

as a Funding Agent, as Administrative Agent, and as an

Alternate Investor

 	 
	 	By:  	/s/ Jeremy Grubb
 	 
	 	 	Name:  	Jeremy Grubb                           	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to

Amendment No. 14 to

Arrow Electronics

Transfer and Administration Agreement

 

 

	 	 	 	 	 
	 	 	Park Avenue Receivables Company LLC,
	 	 	as a Conduit Investor
	 
	 	 	 	 
	 	 	By: JPMorgan Chase Bank, N.A. (formerly known as JPMorgan Chase Bank), its attorney-in-fact
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Mark Connor
	 

	 	 	 	 
	 

	 	 	 	Name: Mark Connor
	 

	 	 	 	Title:   Vice President
	 
	 	 	 	 
	 	 	JPMorgan Chase Bank, N.A., 
	 	 	(formerly known as JPMorgan Chase Bank) as a Funding Agent and as an Alternate Investor
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Mark Connor
	 

	 	 	 	 
	 

	 	 	 	Name: Mark Connor
	 

	 	 	 	Title:   Vice President

Signature Page to

Amendment No. 14 to

Arrow Electronics

Transfer and Administration Agreement

 

 

	 	 	 	 	 	 	 
	 	 	Alpine Securitization Corp., 
	 	 	as a Conduit Investor
	 
	 	 	 	 	 	 
	 	 	By: Credit Suisse, New York Branch,

its attorney-in-fact
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Joseph Soave
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: Joseph Soave
	 

	 	 	 	 	 	Title:   Director
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Josh Borg
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: Josh Borg
	 

	 	 	 	 	 	Title:   Director

	 	 	 	 	 
	 	 	Credit Suisse, New York Branch
	 	 	as a Funding Agent and as an Alternate Investor
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Michael W. Koenitzer
	 

	 	 	 	 
	 

	 	 	 	Name: Michael W. Koenitzer
	 

	 	 	 	Title:   Director
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Alberto Zonca
	 

	 	 	 	 
	 

	 	 	 	Name: Alberto Zonca
	 

	 	 	 	Title:   Director

Signature Page to

Amendment No. 14 to

Arrow Electronics

Transfer and Administration Agreement

 

 

	 	 	 	 	 
	 	Liberty Street Funding Corp., 

as a Conduit Investor

 	 
	 	By:  	/s/ Bernard J. Angelo
 	 
	 	 	Name:  	Bernard J. Angelo 	 
	 	 	Title:  	Vice President 	 
	 
	 	The Bank of Nova Scotia, 

as a Funding Agent and as an Alternate Investor

 	 
	 	By:  	/s/ Norman Last
 	 
	 	 	Name:  	Norman Last 	 
	 	 	Title:  	Managing Director 	 
	 

Signature Page to

Amendment No. 14 to

Arrow Electronics

Transfer and Administration Agreement

 

 

	 	 	 	 	 
	 	Gotham Funding Corporation, 

as a Conduit Investor

 	 
	 	By:  	/s/ R. Douglas Donaldson
 	 
	 	 	Name:  	R. Douglas Donaldson 	 
	 	 	Title:  	Treasurer 	 
	 
	 	The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, 

(formerly known as The Bank of Tokyo-Mitsubishi, Ltd., New York Branch) as a Funding Agent

 	 
	 	By:  	/s/ Aditya Reddy
 	 
	 	 	Name:  	Aditya Reddy 	 
	 	 	Title:  	Vice President 	 
	 
	 	The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch ,

(formerly known as The Bank of Tokyo-Mitsubishi, Ltd., New York Branch) as an Alternate Investor

 	 
	 	By:  	/s/ Christopher J. DeLauro
 	 
	 	 	Name:  	Christopher J. DeLauro 	 
	 	 	Title:  	Authorized Signatory 	 
	 

Signature Page to

Amendment No. 14 to

Arrow Electronics

Transfer and Administration Agreement

 

 

	 	 	 	 	 	 	 
	 	 	Old Line Funding, LLC, 
	 	 	as a Conduit Investor
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Robert S. Jones
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: Robert S. Jones
	 

	 	 	 	 	 	Title:   Authorized Signatory

	 	 	 	 	 
	 	 	Royal Bank of Canada
	 	 	as a Funding Agent and as an Alternate Investor
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Veronica L. Gallagher
	 

	 	 	 	 
	 

	 	 	 	Name: Veronica L. Gallagher
	 

	 	 	 	Title:   Authorized Signatory

Signature Page to

Amendment No. 14 to

Arrow Electronics

Transfer and Administration Agreement

 

 

	 	 	 	 	 
	 	 	Variable Funding Capital Company Llc
	 	 	as a Conduit Investor
	 
	 	 	 	 
	 	 	By: Wachovia Capital Markets, LLC, as attorney-in-fact
	 
	 	 	 	 
	 

	 	By: /s
	 	/ Douglas R. Wilson, Sr.
	 

	 	 	 	 
	 

	 	 	 	Name: Douglas R. Wilson, Sr.
	 

	 	 	 	Title:   Vice President
	 
	 	 	 	 
	 	 	Wachovia Bank, National Association, 
	 	 	as a Funding Agent and as an Alternate Investor
	 
	 	 	 	 
	 

	 	By: /s
	 	/ William P. Rutkowski
	 

	 	 	 	 
	 

	 	 	 	Name: William P. Rutkowski
	 

	 	 	 	Title:   Vice President

Signature Page to

Amendment No. 14 to

Arrow Electronics

Transfer and Administration Agreement

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