Document:

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                                MASTER AGREEMENT

                                       FOR

                          DOCUMENTARY LETTERS OF CREDIT

                              TERMS AND CONDITIONS

General Electric Capital Corporation
201 High Ridge Road
Stamford, CT 06927

             The undersigned ("Applicant") will require, from time to time,
Documentary Letters of Credit. General Electric Capital Corporation ("GE
Capital") will, upon Applicant's application therefor, and to the extent such
application is approved by GE Capital in its sole discretion, arrange for the
issuance of Credits (as defined herein) through GE Capital Trade Services,
Limited or another subsidiary of GE Capital appointed in accordance with Section
3(d) (the "Issuer"), an indirect wholly-owned subsidiary of GE Capital. Each
Credit will be governed by and interpreted in accordance with the following
terms and conditions. Capitalized terms used herein shall have the meanings
assigned to them in Section 9 below or elsewhere in this Agreement (including
this Preamble) and shall be equally applicable to both the singular and the
plural forms of the terms used herein.

      1.     Payment Terms.

             In addition to all commissions, charges, fees and expenses payable
in connection with Credits pursuant to the Credit Agreement (including, without
limitation the Letter of Credit Fee, as defined in the Credit Agreement),
Applicant agrees to pay to GE Capital on demand, at GE Capital's office located
at 201 High Ridge Road, Stamford, Connecticut 06927 or at such other address or
account as may be designated in writing by GE Capital, in Dollars, in
immediately available funds: (i) each amount drawn under any Credit in Dollars
or in the event that the Credit permits Drafts under such Credit to be payable
in a currency other than Dollars, the Dollar Equivalent of each amount so drawn;
(ii) interest on each amount (or the Dollar Equivalent thereof) so drawn for
each day from the date of payment of the relevant Draft to and including the
date of payment in full of such amount by Applicant to GE Capital, at the rate
specified in the Credit Agreement; and (iii) any and all commissions and charges
of, and any and all costs and expenses incurred by, GE Capital, Issuer and each
of their correspondents in relation to the Credits and all Drafts thereunder. A
schedule of commissions and charges is attached hereto as Annex I.

      2.     Security Interest.

             To secure the payment and performance of all Obligations
(including, without limitation, Letter of Credit Obligations), the Applicant
hereby grants to Agent a security interest in the Collateral, including, without
limitation, the unqualified right to the possession and disposal of all property
shipped under or in connection with each Credit, whether released to the
Applicant under security agreements or otherwise, and also in and to all
shipping documents, documents of title, or Drafts drawn under each Credit and in
and to all other property owned by

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the Applicant, in or coming into GE Capital's possession or custody, and in any
deposit balances now or hereafter held by a bank as custodian for GE Capital for
the Applicant's account, together with the proceeds of each and all of the
foregoing, until the Termination Date (subject to reinstatement as provided in
the Loan Documents). The grant of a security interest in the preceding sentence
supplements, rather than limits or supersedes, any grant of a security interest
by Applicant in the Loan Documents. If Issuer honors any presentation or demand
or Draft and Applicant fails to reimburse GE Capital therefor in accordance with
the terms of the Credit Agreement, GE Capital and Issuer may assert their rights
of subrogation under applicable law, whether Issuer's honor satisfies all or
only part of the underlying obligation. The Applicant must, on reasonable
notice, cooperate with Issuer and GE Capital in their assertion of the
Applicant's rights against the Beneficiary, the Beneficiary's rights against the
Applicant, and any other rights that Issuer or GE Capital may have by
subrogation or assignment. Subject to the terms of the Credit Agreement, the
Applicant agrees to make upon demand such cash deposits with GE Capital as GE
Capital may require to further secure the Applicant's Letter of Credit
Obligations.

      3.     Administration of Credit.

             (a)   Applicant will promptly examine a copy of each Credit (and
any proposed amendments thereto) sent to Applicant, as well as all other
instruments and documents delivered to Applicant from time to time in connection
with such Credit, and, in the event Applicant has any claim of non-compliance
with the instructions or of any discrepancy or other irregularity, Applicant
will notify GE Capital thereof in writing within two business days after its
receipt of a copy of such Credit (and any amendments thereof), and Applicant
will conclusively be deemed to have waived any such claim against GE Capital,
Issuer and their subcontractors, servicers and agents unless such notice is
given as aforesaid.

             (b)   Neither Issuer, GE Capital nor any of their correspondents
shall be responsible for, and neither Issuer's and GE Capital's powers and
rights hereunder nor Applicant's Obligations shall be affected by: (i) any act
or omission pursuant to Applicant's instructions; (ii) any other act or omission
of Issuer, GE Capital or their subcontractors, servicers and agents or their
respective agents or employees other than any such arising from its or their
gross negligence or willful misconduct; (iii) the validity, accuracy or
genuineness of Drafts, documents or required statements, even if such Drafts,
documents or statements should in fact prove to be in any or all respects
invalid, inaccurate, fraudulent or forged (and notwithstanding that Applicant
shall have notified Issuer or GE Capital thereof); (iv) failure of any Draft to
bear any reference or adequate reference to the applicable Credit; (v) errors,
omissions, interruptions or delays in transmission of delivery of any messages
however sent and whether or not in code or otherwise; (vi) any act, default,
omission, insolvency or failure in business of any other person (including any
correspondent) or any consequences arising from causes beyond Issuer's or GE
Capital's control; (vii) any acts or omissions of any Beneficiary of any Credit
or transferee of any Credit, if transferable; (viii) any act or omission of GE
Capital or Issuer required or permitted under any (1) law or practice to which a
Credit is subject, (2) applicable order, ruling or decree of any court,
arbitrator or governmental agency, or (3) published statement or interpretation
on a matter of law or practice; (ix) honor or other recognition of a
presentation or demand that includes forged or fraudulent documents or that is
otherwise affected by the fraudulent or illegal conduct of the Beneficiary or
other person (excluding GE Capital's and Issuer's employees), or (x) dishonor of
any presentation that does not strictly comply with the

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terms of the applicable Credit or that is fraudulent, forged or otherwise not
entitled to be honored. Without limiting the generality of the foregoing, Issuer
may (1) act in reliance on any oral, telephone, telegraphic, electronic,
facsimile or written request, notice, or instruction believed in good faith to
be from or have been authorized by the Applicant, (2) receive, accept or pay as
complying with the terms of a Credit any Drafts or other documents, otherwise in
order, which are signed by or issued to any person or entity acting as the
representative of, or in the place of, the party in whose name such Credit
provides that any Drafts or other documents should be drawn or issued and (3)
waive its stipulation that the bank nominated in the applicable Credit shall
accept or pay the Drafts, and Issuer may then accept presentations of Drafts and
documents for payment directly.

             (c)   Notwithstanding any waiver by Applicant of discrepancies in
Drafts, documents or required statements, GE Capital or Issuer, either one
acting alone, has the right in its sole judgement, to decline to approve any
discrepancies and to refuse payment on that basis under any Credit issued
hereunder. Such right is in addition to and not in limitation of rights of
Issuer under the UCP (as defined in Section 15(c) below).

             (d)   GE Capital may appoint any of its other subsidiaries as
"Issuer" at any time and any such Issuer may assign all or any portion of its
rights under this Agreement or any Credit, including without limitation any
reimbursement obligation owing to it to any subsidiary of GE Capital, in each
case without prior notice to Applicant.

     4.      Extensions, Increases and Modifications of Credit.

             Each Applicant agrees that GE Capital, acting through Issuer may at
any time and from time to time, in its discretion, by agreement with one or more
other Applicants (whether or not such Applicant shall have been appointed as the
"Agent Applicant" in the Joint Signature Agreement contained in the
Application): (a) further finance or refinance any transaction under any Credit;
(b) renew, extend or change the time of payment or the manner, place or terms of
payment of any of the Obligations; (c) settle or compromise any of the
Obligations or subordinate the payment thereof to the payment of any other debts
of or claims against any Applicant which may at the time be due or owing to
Issuer; or (d) release any Applicant or any Guarantor or any Collateral, or
modify the terms under which such Collateral is held, or forego any right of
setoff, or modify or amend in any way this Agreement or any Credit, or give any
waiver or consent under this Agreement; all in such manner and on such terms as
Issuer may deem proper and without notice or further assent from such Applicant.
In any such event, such Applicant shall remain bound by such event and this
Agreement after giving effect to such event, and the Obligations under this
Agreement shall be continuing obligations in respect of any transaction so
financed or refinanced and, in either case, if the Obligations are contingent,
may be treated by GE Capital as due and payable for their maximum face amount.

     5.      Reserve Requirements and Similar Costs.

             If Issuer is now or hereafter becomes subject to any reserve,
special deposit or similar requirement against assets of, deposits with, or for
the account of, or credit extended by, Issuer, or any other condition is imposed
upon Issuer which imposes a cost upon Issuer, and the result, in the
determination of Issuer is to increase the cost to Issuer of maintaining a
Credit or paying or funding the payment of any Draft thereunder, or to reduce
the amount of any sum received or receivable, directly or indirectly, by Issuer
hereunder, Applicant will pay to Issuer

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upon demand such amounts required to compensate Issuer for such increased cost
or reduction. In making the determinations contemplated hereunder, Issuer may
make such estimates, assumptions, allocations and the like which Issuer in good
faith determines to be appropriate, but Issuer's selection thereof, and Issuer's
determinations based thereon, shall be final and binding and conclusive upon
Applicant.

     6.      Possession of Property by Applicant.

             If the Applicant accepts or retains possession of documents, goods
or other property, if any, covered by a Credit, prior to Issuer's review of
documents, then all discrepancies and other irregularities of said documents
shall be deemed waived by the Applicant, and Issuer is authorized and directed
to pay any Drafts drawn or purporting to be drawn upon such Credit.

     7.      Partial Shipments.

             Except as otherwise expressly stated in any Credit (i) partial
shipments may be made under such Credit, and Issuer may honor the relative
Drafts without inquiry regardless of any apparent disproportion between the
quantity shipped and the amount of the relative Draft and the total amount of
such Credit and the total quantity to be shipped under such Credit, and (ii) if
such Credit specifies shipments in installments within stated periods and the
shipper fails to ship in any designated period, shipments of subsequent
installments may nevertheless be made in their respective designated periods and
Issuer may honor the relative Drafts.

     8.      Events of Default, Remedies; Pre-funding.

             (a)  If any Event of Default has occurred and is continuing, other
than an Event of Default specified in Section 8.1(h) or Section 8.1(i) of the
Credit Agreement, Issuer may direct GE Capital in its capacity as Agent under
the Credit Agreement to pursue any of the remedies provided for in the Loan
Documents, including without limitation declaring that all of the Obligations
(including any such Obligations that may be contingent and not matured) are
immediately due and payable. If an Event of Default under Section 8.1(h) or
Section 8.1(i) of the Credit Agreement has occurred, the Obligations shall
automatically be due and payable.

             (b)  Without limiting the generality of the foregoing, Applicant
agrees that if: (i) any Default or Event of Default shall have occurred and be
continuing; (ii) GE Capital at any time and for any reason deems itself or
Issuer to be insecure or the risk of non-payment or non-performance of any of
the Obligations to have increased; or (iii) in the event that a Credit is
denominated in a currency other than Dollars, GE Capital determines that such
currency is unavailable or that the transactions contemplated by this Agreement
are unlawful or contrary to any regulations to which GE Capital, Issuer or any
agent, servicer or subcontractor of either of them may be subject or that due to
currency fluctuations the Dollar Equivalent of the amount of a Credit exceeds
the amount of Dollars that Issuer in its sole judgment expected to be its
maximum exposure under such Credit, then Applicant will upon demand pay to GE
Capital an amount equal to the undisbursed portion, if any, of such Credit, and
such amount shall be held as additional Collateral for the payment of all Letter
of Credit Obligations, and after the expiration hereof, to the extent not
applied to the Letter of Credit Obligations, shall be returned to Applicant
(unless otherwise provided in the Credit Agreement or any other Loan Document).

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     9.   Definitions.

          As used herein, the following terms shall have the following meanings:

          "Agent" shall have the meaning given such term in the Credit
Agreement.

          "Agent Applicant" shall have the meaning given such term in the Joint
Signature Agreement attached hereto.

          "Agreement" shall mean, collectively, these terms and conditions each
Application for Documentary Letter of Credit entered into between GE Capital
and/or Issuer and Applicant, the Joint Signature Agreement and the Authorization
and Agreement of Account Party appended hereto, as the same may be amended,
modified, supplemented or restated from time to time.

          "Applicant" shall mean the person or entity executing this Agreement
as Applicant; provided that if two or more persons or entities shall have
executed this Agreement as Applicant or as Joint Applicant, the terms
"Applicant" and "Applicants" shall mean each and all of such persons and
entities, individually and collectively, except that, if the term "Applicant" is
preceded by the word "any" or "each" or a word or words of similar import, such
terms shall be deemed to refer to each of such persons or entities,
individually.

          "Beneficiary" shall mean, as to any Credit, the beneficiary of that
Credit.

          "Collateral" shall have the meaning given such term in the Credit
Agreement.

          "Credit" shall mean a Documentary Letter of Credit issued by Issuer
upon Applicant's request of GE Capital, as the same may be amended and
supplemented from time to time, and any and all renewals, increases, extensions
and replacements thereof and therefor.

          "Credit Agreement" shall mean that certain Credit Agreement dated as
of the date hereof among Coyne International Enterprises Corp., a New York
corporation and Blue Ridge Textile Manufacturing Inc., a Georgia corporation;
the other Credit Parties signatory thereto; GE Capital, as Lender, and as Agent
for Lenders, and the other Lenders signatory thereto from time to time
(including all annexes, exhibits and schedules thereto, as from time to time
amended, restated, supplemented or otherwise modified).

          "Default" shall have the meaning given such term in the Credit
Agreement.

          "Dollar Equivalent" shall mean: (i) the number of Dollars that is
equivalent to an amount of a currency other than Dollars, determined by applying
the selling rate of First Union National Bank, First Union Bank International or
another bank of comparable size selected by Issuer; or (ii) in the event that
Issuer shall not at the time be offering such a rate, the amount of Dollars that
Issuer, in its sole judgment, specifies as sufficient to reimburse or provide
funds to Issuer in respect of amounts drawn or drawable under a Credit; in
either case as and when determined by Issuer.

          "Dollars" shall mean lawful currency of the United States of America.

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          "Draft" shall mean any Draft (sight or time), receipt, acceptance,
cable or other written demand for payment.

          "Event of Default" shall have the meaning given such term in the
Credit Agreement.

          "Guarantor" shall have the meaning given such term in the Credit
Agreement.

          "Letter of Credit Obligations" shall have the meaning given such term
in the Credit Agreement.

          "Loan Documents" shall have the meaning given such term in the Credit
Agreement.

          "Obligations" shall have the meaning given such term in the Credit
Agreement.

          "Termination Date" shall have the meaning given such term in the
Credit Agreement.

     10.  Expenses; Indemnification.

          Applicant agrees to reimburse GE Capital and Issuer upon demand for
and to indemnify and hold GE Capital and Issuer harmless from and against all
claims, liabilities, losses, costs and expenses ("Indemnified Liabilities")
including attorneys' fees and disbursements, incurred or suffered by GE Capital
and/or Issuer in connection with any Credit. Such Indemnified Liabilities shall
include, but not be limited to, all such Indemnified Liabilities incurred or
suffered by GE Capital and/or Issuer in connection with (a) GE Capital and/or
Issuer's exercise of any right or remedy granted to it hereunder or under the
Loan Documents, (b) any claim and the prosecution or defense thereof arising out
of or in any way connected with this Agreement including, without limitation, as
a result of any act or omission by a Beneficiary, (c) the collection or
enforcement of the Obligations, and (d) any of the events or circumstances
referred to in Section 3(b) hereof. None of GE Capital, Issuer or any
subcontractor, servicer or agent of either of them shall be liable to Applicant
for any special, indirect, consequential or punitive damages arising with
respect to any Credit. Applicant must in all instances mitigate damages claimed
against Issuer or GE Capital or any subcontractor, servicer or agent of either
of them arising with respect to any Credit.

     11.  Licenses; Insurance.

          The Applicant shall procure or cause the Beneficiaries of each Credit
to procure promptly any necessary import and export or other licenses for import
or export or shipping of any goods referred to in or pursuant to such Credit and
to comply and to cause the Beneficiaries to comply with all foreign and domestic
governmental regulations in regard to the shipment and warehousing of such goods
or otherwise relating to or affecting such Credit, including governmental
regulations pertaining to transactions involving designated foreign countries or
their nationals, and to furnish such certificates in that respect as GE Capital
may at any time require, and to keep such goods adequately covered by insurance
in amounts, with carriers and for such risks as shall be satisfactory to GE
Capital, and to cause GE Capital's interest to be endorsed thereon, and to
furnish GE Capital on demand with evidence thereof. Should the

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insurance upon said goods for any reason be unsatisfactory to GE Capital, GE
Capital may, at its expense, obtain insurance satisfactory to it.

     12.  No Waivers of Rights Hereunder; Rights Cumulative.

          No delay by GE Capital or Issuer in exercising any right hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of
any right preclude other or further exercises thereof or the exercise of any
other right. No waiver or amendment of any provision of this Agreement shall be
enforceable against GE Capital or Issuer unless in writing and signed by an
officer of GE Capital, and unless it expressly refers to the provision affected,
any such waiver shall be limited solely to the specific event waived. All rights
granted GE Capital or Issuer hereunder shall be cumulative and shall be
supplementary of and in addition to those granted or available to GE Capital or
Issuer under the Loan Documents or applicable law and nothing herein shall be
construed as limiting any such other right.

     13.  Continuing Agreement; Termination.

          This Agreement shall continue in full force and effect until the
Termination Date (subject to reinstatement, as provided in the Loan Documents).

     14.  Performance Standards.

          Notwithstanding any provision to the contrary herein, GE Capital
reserves the right to decline (i) any request made by the Applicant for the
issuance of a Credit or (ii) any instruction provided by the Applicant if, in
its discretion, GE Capital determines that the issuance of such Credit or the
carrying out of such instruction contravenes GE Capital's customary procedures
or policy or any applicable law, rule or regulation.

     15.  Governing Law; Jurisdiction; Certain Waivers.

          (a) THIS AGREEMENT INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND
PERFORMANCE, AND THE OBLIGATIONS ARISING HEREUNDER SHALL BE GOVERNED BY, AND
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW
YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN THAT STATE, AND ANY
APPLICABLE LAWS OF THE UNITED STATES OF AMERICA AND WITH RESPECT TO ALL SECURITY
INTERESTS GRANTED IN CONNECTION HEREWITH, GE CAPITAL SHALL HAVE THE RIGHTS AND
REMEDIES OF A SECURED PARTY UNDER APPLICABLE LAW, INCLUDING BUT NOT LIMITED TO
THE UNIFORM COMMERCIAL CODE OF NEW YORK. EACH APPLICANT HEREBY CONSENTS AND
AGREES THAT THE STATE OR FEDERAL COURTS LOCATED IN NEW YORK COUNTY, CITY OF NEW
YORK, NEW YORK, SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY
CLAIMS OR DISPUTES BETWEEN OR AMONG APPLICANT AND GE CAPITAL PERTAINING TO THIS
AGREEMENT OR TO ANY MATTER ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY
OF THE OTHER LOAN DOCUMENTS, PROVIDED, THAT GE CAPITAL AND APPLICANT ACKNOWLEDGE
THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED
OUTSIDE OF NEW YORK COUNTY, AND, PROVIDED, FURTHER, THAT NOTHING IN THIS
AGREEMENT SHALL BE

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DEEMED OR OPERATE TO PRECLUDE GE CAPITAL FROM BRINGING SUIT OR TAKING OTHER
LEGAL ACTION IN ANY OTHER JURISDICTION TO REALIZE ON THE COLLATERAL OR ANY OTHER
SECURITY FOR THE OBLIGATIONS, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN
FAVOR OF GE CAPITAL. EACH APPLICANT EXPRESSLY SUBMITS AND CONSENTS IN ADVANCE TO
SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH
APPLICANT HEREBY WAIVES ANY OBJECTION THAT SUCH APPLICANT MAY HAVE BASED UPON
LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS AND HEREBY
CONSENT TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED
APPROPRIATE BY SUCH COURT. EACH APPLICANT HEREBY WAIVES PERSONAL SERVICE OF THE
SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND
AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINTS AND OTHER PROCESS MAY BE MADE BY
REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH APPLICANT AT THE ADDRESSES SET
FORTH IN ANNEX I OF THE CREDIT AGREEMENT AND THAT SERVICE SO MADE SHALL BE
DEEMED COMPLETED UPON THE EARLIER OF SUCH APPLICANT'S ACTUAL RECEIPT THEREOF OR
3 DAYS AFTER DEPOSIT IN THE UNITED STATES MAILS, PROPER POSTAGE PREPAID.

          (b) BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX FINANCIAL
TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY AN EXPERIENCED AND
EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY
(RATHER THAN ARBITRATION RULES), THE PARTIES DESIRE THAT THEIR DISPUTES BE
RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE
BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OR ARBITRATION, EACH
APPLICANT AND GE CAPITAL WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT
OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER SOUNDING IN CONTRACT,
TORT, OR OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED TO, OR INCIDENTAL TO
THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS AGREEMENT AND
THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS RELATED THERETO.

          (c) Each Credit and this Agreement shall be subject to the Uniform
Customs and Practice for Documentary Credits (1993 Revision) International
Chamber of Commerce Publication No. 500, or the most recent revision thereof
(the "UCP"), the terms of which are known to us, and the same shall be
considered as incorporated herein. Solely for purposes of interpreting the UCP's
application to this Agreement and Credits issued hereunder, Issuer shall be
deemed to be a "bank" as such term is used in the UCP.

     16.  Notices.

          Whenever it is provided herein that any notice, demand, request,
consent, approval, declaration or other communication shall or may be given to
or served upon any of the parties by any other party, or whenever any of the
parties desires to give or serve upon another any such communication with
respect to this Agreement, each such notice, demand, request, consent, approval,
declaration or other communication shall be in writing and shall be addressed

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to the party to be notified at the address set forth in Annex I to the Credit
Agreement (or such other address as may be substituted by notice given in the
manner required by Section 11.10 of the Credit Agreement), and given in the
manner required by Section 11.10 of the Credit Agreement.

             Any notice to or demand on Applicant, or, if more than one
Applicant executes this Agreement, the Agent Applicant, shall be binding on all
Applicants and shall be effective when made to Applicant, or if more than one
Applicant executes this Agreement, the Agent Applicant. Any requirements under
applicable law of reasonable notice by GE Capital to Applicant of any event
shall be met if notice is given to Applicant or Agent Applicant, as the case may
be, in the manner prescribed above.

     17.     Third Party Beneficiary.

             Applicant hereby acknowledges that Issuer is a third party
beneficiary under this Agreement and may enforce its rights under this Agreement
directly against the Applicant as if Issuer were named herein as a party.

     18.     General.

             (a)   If this Agreement is executed by two or more Applicants, they
shall be jointly and severally liable hereunder, and all provisions hereof
regarding the Collateral shall apply to the Obligations and Collateral of any or
all of them.

             (b)   This Agreement shall be binding upon the heirs, executors,
administrators, assigns and successors of each of the Applicant(s) and shall
inure to the benefit of and be enforceable by GE Capital, Issuer and their
respective successors, transferees and assigns.

             (c)   Whenever possible, each provision of this Agreement shall be
interpreted in such a manner to be effective and valid under applicable law, but
if any provision of this Agreement shall be prohibited by or invalid under
applicable law, such provision shall be ineffective only to the extent of such
prohibition or invalidity, without invalidating the remainder of such provision
or the remaining provisions of this Agreement.

             (d)   This Agreement shall be deemed to be a "Loan Document" for
all purposes under the Credit Agreement.

             (e)   This Agreement may be executed in any number of separate
counterparts, each of which shall collectively and separately constitute one
agreement.

             (f)   The parties hereto have participated jointly in the
negotiation and drafting of this Agreement. In the event an ambiguity or
question of intent or interpretation arises, this Agreement shall be construed
as if drafted jointly by the parties hereto and no presumption or burden of
proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provisions of this Agreement.

             (g)   Each of the parties represents to each other party hereto
that it has discussed this Agreement and, specifically, the provisions of
Section 15(a) and Section 15(b), with its counsel.

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Date:

Name of Applicant:

COYNE INTERNATIONAL ENTERPRISES              GENERAL ELECTRIC CAPITAL
CORP.                                        CORPORATION

By: ___________________________              By: _______________________________
    Name: _____________________                  Name: _________________________
    Title: ____________________                  Title: ________________________

Address of Applicant:

140 Cortland Avenue
Syracuse, NY 13221-4854

BLUE RIDGE TEXTILE
MANUFACTURING INC.

By: ___________________________
    Name: _____________________
    Title: ____________________

Address of Applicant:

1130 ADA Street
Industrial Park
Blue Ridge, GA 30153

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                            Joint Signature Agreement

             In consideration of your establishment from time to time of a
Credit substantially as applied for herein, it is further agreed that this
Agreement shall be the joint and several agreement of the undersigned and all
property referred to in this Agreement as belonging to Applicant shall be
understood to refer to the joint property of any or all of the several
Applicants as well as to the individual property of each of them. The happening
of any Event of Default as specified in Section 8 of this Agreement with respect
to any Applicant shall mature the obligations of all Applicants. A demand made
on any Applicant pursuant to Section 1 of this Agreement shall fix the exchange
rate as to all Applicants.

             It is agreed that Coyne International Enterprises Corp. shall
appear in each Credit as Account Party and that Coyne International Enterprises
Corp. ("Agent Applicant") has the exclusive right to issue all instructions on
any and all matters relating to such Credit, including, without limitation,
instructions as to disposition of documents and any unutilized funds, and
waivers of discrepancies, and to agree with you upon any amendments,
modifications, extensions, renewals, or increases in such Credit or any other
matter.

Joint Applicant

OHIO GARMENT RENTAL, INC.

By: __________________________
    Name: ____________________
    Title: ___________________

Address of Joint Applicant:

140 Cortland Avenue
Syracuse, New York 13202

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                  Authorization and Agreement of Account Party

Gentlemen:

             We hereby join the request of Applicant to issue from time to time
the Credits, described on page 1 with our name appearing as Account Party.

             In consideration of your issuing each Credit in this form it is
agreed that Applicant has the exclusive right to issue all instructions on any
and all matters relating to such Credits including, without limitation,
instructions as to disposition of documents and any unutilized funds, and
waivers of discrepancies, and to agree with you upon any amendments,
modifications, extensions, renewals, or increases in each Credit or any other
matters irrespective of whether the same may now or hereafter affect our rights
or those of our successors or assigns.

                                             ___________________________________
                                             Account Party

                                             By: _______________________________
                                             Authorized Signature

                                             Address of Account Party:
                                             ___________________________________

                                             ___________________________________

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                                     ANNEX I

             The Applicant agrees to pay the following fees with respect to the
Credits:

             1.  upon issuance thereof, the greater of (a) 1/8 of 1% of the
amount of the Credit and (b) $95;

             2.  upon any amendment which increases the amount thereof, the
greater of (a) 1/8 of 1% of such increased amount and (b) $45;

             3.  upon any other amendment thereof, $45;

             4.  upon the negotiation thereof, the greater of (a) 1/8 of 1% of
the amount thereof and (b) $60; and

             5.  with respect to any other activity related to such Credit, the
standard fees and charges of Issuer for such activity.<PAGE>

                        PLEDGE AGREEMENT (Credit Parties)

         This PLEDGE AGREEMENT, dated as of July 2, 2002 (together with all
amendments, if any, from time to time hereto, this "Agreement"), is made by and
among EACH OF THE PLEDGORS SIGNATORY HERETO AND EACH ADDITIONAL PARTY THAT
BECOMES A PLEDGOR HERETO PURSUANT TO SECTION 21 HEREOF (together with their
respective successors and assigns, collectively, "Pledgors" and each
individually, "Pledgor"), and GENERAL ELECTRIC CAPITAL CORPORATION, in its
capacity as Agent ("Agent") for itself and the lenders from time to time party
to the Credit Agreement referred to below ("Lenders").

                              W I T N E S S E T H:

         WHEREAS, pursuant to that certain Credit Agreement, dated as of the
date hereof, by and among Coyne International Enterprises Corp., a New York
corporation ("Coyne") and Blue Ridge Textile Manufacturing Inc., a Georgia
corporation ("Blue Ridge") (Coyne and Blue Ridge are sometimes collectively
referred to herein as the "Borrowers" and individually as a "Borrower"); the
other Credit Parties signatory thereto; General Electric Capital Corporation,
for itself, as Lender, and as Agent for Lenders, and the other Lenders signatory
thereto from time to time (including all annexes, exhibits and schedules
thereto, as from time to time amended, restated, supplemented or otherwise
modified, the "Credit Agreement") the Lenders have agreed to make Loans to, and
incur the Letter of Credit Obligations for the benefit of, Borrowers;

         WHEREAS, Pledgors are the respective record and beneficial owners of
the Pledged Shares listed in Part A of Schedule I hereto and the respective
owners of the Pledged Indebtedness listed in Part B of Schedule I;

         WHEREAS, Pledgors directly or indirectly benefit from the credit
facilities made available to Borrowers under the Credit Agreement; and

         WHEREAS, in order to induce Agent and Lenders to enter into the Credit
Agreement and the other Loan Documents and to induce Agent and Lenders to make
the Loans and to incur the Letter of Credit Obligations as provided for in the
Credit Agreement, Pledgors have agreed to pledge the Pledged Collateral to Agent
in accordance herewith;

         NOW, THEREFORE, in consideration of the premises and the covenants
hereinafter contained and to induce Lenders to make the Loans and to incur the
Letter of Credit Obligations under the Credit Agreement, it is agreed as
follows:

         1. Definitions. Unless otherwise defined herein, terms defined in the
Credit Agreement or in Annex A thereto are used herein (including the recitals
hereof) as therein defined, and the following shall have the following
respective meanings (such

<PAGE>

meanings being equally applicable to both the singular and plural form of the
terms defined):

         "Bankruptcy Code" means title 11, United States Code, as amended from
time to time, and any successor statute thereto.

         "Operating Agreement" means each limited liability company agreement,
operating agreement or similar agreement identified on Part A of Schedule I
hereto relating to Pledged Shares consisting of a membership interest in a
limited liability company, in each case, as amended, supplemented or otherwise
modified from time to time.

         "Pledged Collateral" has the meaning assigned to such term in Section 2
hereof.

         "Pledged Entity" means an issuer of Pledged Shares or Pledged
Indebtedness.

         "Pledged Indebtedness" means, with respect to any Pledgor or Pledgors,
the Indebtedness evidenced by promissory notes and instruments listed on Part B
of Schedule I hereto.

         "Pledged Shares" means, with respect to any Pledgor or Pledgors, those
shares of Stock held by such Pledgor or Pledgors listed on Part A of Schedule I
hereto.

         "Secured Obligations" has the meaning assigned to such term in Section
3 hereof.

         2. Pledge. Each Pledgor hereby pledges to Agent, and grants to Agent
(i) for itself and the benefit of the holders of A Obligations, a first priority
security interest in all of the following and (ii) for the benefit of the
holders of B Obligations, a second priority security interest in all of the
following (collectively, the "Pledged Collateral"):

            (a)     such Pledgor's Pledged Shares and the certificates
     representing such Pledged Shares, and all dividends, distributions, cash,
     instruments and other property or proceeds from time to time received,
     receivable or otherwise distributed and to the extent applicable,
     allocations of profit and losses in respect of or in exchange for any or
     all of such Pledged Shares;

            (b)     any additional shares of Stock, or other right, title or
     interest in, any Person from time to time acquired by such Pledgor in any
     manner (which shares shall be deemed to be part of such Pledgor's Pledged
     Shares), and any certificates representing such Stock, and all dividends,
     distributions, cash,

                                        2

<PAGE>

     instruments and other property or proceeds from time to time received,
     receivable or otherwise distributed in respect of or in exchange for any or
     all of such Stock;

            (c) such Pledgor's Pledged Indebtedness and the promissory notes or
     instruments evidencing such Pledged Indebtedness, and all interest, cash,
     instruments and other property and assets from time to time received,
     receivable or otherwise distributed in respect of such Pledged
     Indebtedness; and

            (d) all additional Indebtedness arising after the date hereof and
     owing to such Pledgor (which Indebtedness shall be deemed to be part of
     such Pledgor's Pledged Indebtedness) and evidenced by promissory notes or
     other instruments, together with such promissory notes and instruments, and
     all interest, cash, instruments and other property and assets from time to
     time received, receivable or otherwise distributed in respect of such
     Pledged Indebtedness.

         3. Security for Obligations; Delivery of Pledged Collateral.

            (a) This Agreement secures, and the Pledged Collateral is security
     for, the prompt payment in full when due, whether at stated maturity, by
     acceleration or otherwise, and performance of all Obligations of any kind
     under or in connection with the Credit Agreement and the other Loan
     Documents and all obligations of Pledgors now or hereafter existing under
     this Agreement including, without limitation, all fees, costs and expenses
     whether in connection with collection actions hereunder or otherwise
     (collectively, the "Secured Obligations").

            (b) All certificates and all promissory notes and instruments
     evidencing the Pledged Collateral shall be delivered to and held by or on
     behalf of Agent, for itself and the benefit of Lenders, pursuant hereto.
     All Pledged Shares evidenced by certificates shall be accompanied by duly
     executed instruments of transfer or assignment in blank, all in form and
     substance satisfactory to Agent and all promissory notes or other
     instruments evidencing the Pledged Indebtedness shall be endorsed by the
     applicable Pledgor, in form and substance reasonably satisfactory to Agent.
     Each Pledgor has caused each such Pledged Entity to record on its books and
     records the pledge created hereby and to execute and deliver the
     Acknowledgment and Consent in the form of Schedule III hereto. Each Pledgor
     hereby authorizes Agent to attach each Pledge Amendment to this Agreement
     and agrees that all Pledged Shares and Pledged Indebtedness listed on any
     Pledge Amendment delivered to Agent shall for all purposes hereunder be
     considered Pledged Collateral.

         4. Pledgor hereby authorizes and instructs each Pledged Entity listed
on Part A of Schedule I hereto to comply with any instruction received by it
from Agent

                                        3

<PAGE>

without any further order or further consent or instructions from Pledgor and
Pledgor agrees that each Pledged Entity shall be fully protected in so
complying.

         5. Representations and Warranties. Each Pledgor represents and warrants
to Agent that:

            (a) Such Pledgor is, and at the time of its pledge of any Pledged
     Collateral hereunder will be, the sole holder of record and the sole
     beneficial owner of such Pledged Collateral free and clear of any Lien
     thereon or affecting the title thereto, except for any Lien created by this
     Agreement;

            (b) All of the Pledged Shares have been duly authorized, validly
     issued and are fully paid and non-assessable; the Pledged Indebtedness has
     been duly authorized, authenticated or issued and delivered by, and is the
     legal, valid and binding obligations of, the Pledged Entities, and no such
     Pledged Entity is in default thereunder;

            (c) Such Pledgor has the right and requisite authority to pledge,
     assign, transfer, deliver, deposit and set over the Pledged Collateral
     pledged by such Pledgor to Agent as provided herein;

            (d) None of the Pledged Collateral has been issued or transferred in
     violation of the securities registration, securities disclosure or similar
     laws of any jurisdiction to which such issuance or transfer may be subject;

            (e) All of the Pledged Shares are presently owned by such Pledgor
     and are presently represented by the certificates as listed on Part A of
     Schedule I hereto. As of the date hereof, there are no existing options,
     warrants, calls, purchase rights or commitments of any character whatsoever
     relating to the Pledged Shares;

            (f) No consent, approval, authorization or other order or other
     action by, and no notice to or filing with, any Governmental Authority or
     any other Person is required (i) for the pledge by such Pledgor of its
     Pledged Collateral pursuant to this Agreement or for the execution,
     delivery or performance of this Agreement by such Pledgor, or (ii) for the
     exercise by Agent of the voting or other rights provided for in this
     Agreement or the remedies in respect of such Pledgor's Pledged Collateral
     pursuant to this Agreement, except as may be required in connection with
     such disposition by laws affecting the offering and sale of securities
     generally;

            (g) The pledge, assignment and delivery of such Pledgor's Pledged
     Collateral pursuant to this Agreement will create (i) a valid first
     priority Lien on and a first priority perfected security interest in favor
     of the Agent for the benefit of Agent and holders of A Obligations in such
     Pledged Collateral and (ii)

                                        4

<PAGE>

     a valid second priority Lien on and a second priority perfected security
     interest in favor of the Agent for the benefit of the holder of B
     Obligations the proceeds thereof, securing the payment of the Secured
     Obligations, subject to no other Lien;

            (h) This Agreement has been duly authorized, executed and delivered
     by such Pledgor and constitutes a legal, valid and binding obligation of
     such Pledgor enforceable against such Pledgor in accordance with its terms;

            (i) Such Pledgor's Pledged Shares constitute 100% of the issued and
     outstanding shares of Stock of each Pledged Entity; and

            (j) None of such Pledgor's Pledged Indebtedness is subordinated in
     right of payment to other Indebtedness (except for the Secured Obligations)
     or subject to the terms of an indenture.

         The representations and warranties set forth in this Section 5 shall
survive the execution and delivery of this Agreement.

         6. Covenants. Each Pledgor covenants and agrees that until the
Termination Date:

            (a) Without the prior written consent of Agent, no Pledgor will
     sell, assign, transfer, pledge, or otherwise encumber any of its rights in
     or to the Pledged Collateral, or any unpaid dividends, interest or other
     distributions or payments with respect to the Pledged Collateral or grant a
     Lien in the Pledged Collateral, unless, in each case, otherwise expressly
     permitted by the Credit Agreement;

            (b) Each Pledgor will, at its expense, (a) promptly execute,
     acknowledge and deliver all such instruments and take all such actions as
     Agent from time to time may request in order to ensure to Agent and Lenders
     the benefits of the Liens in and to the Pledged Collateral intended to be
     created by this Agreement, including the filing of any necessary Code
     financing statements, which may be filed by Agent with or (to the extent
     permitted by law) without the signature of such Pledgor, and (b) will
     cooperate with Agent, at such Pledgor's expense, in obtaining all necessary
     approvals and making all necessary filings under federal, state, local or
     foreign law in connection with such Liens or any sale or transfer of the
     Pledged Collateral;

            (c) Each Pledgor has and will defend the title to the Pledged
     Collateral pledged by it and the Liens of Agent in such Pledged Collateral
     against the claim of any Person and will maintain and preserve such Liens;

                                       5

<PAGE>

            (d) Each Pledgor will, upon obtaining ownership of any additional
     Stock or promissory notes or instruments of any Person, which Stock, notes
     or instruments are not already Pledged Collateral, promptly (and in any
     event within three (3) Business Days) deliver to Agent a Pledge Amendment,
     duly executed by such Pledgor, in substantially the form of Schedule II
     hereto (a "Pledge Amendment") in respect of any such additional Stock,
     notes or instruments, pursuant to which such Pledgor shall pledge to Agent
     all of such additional Stock, notes and instruments. Each Pledgor hereby
     authorizes Agent to attach each Pledge Amendment to this Agreement and
     agrees that all Pledged Shares and Pledged Indebtedness listed on any
     Pledge Amendment delivered to Agent shall for all purposes hereunder be
     considered Pledged Collateral; and

            (e) Pledgor shall not permit any amendments to the Pledged Entity's
     certificate of incorporation, by-laws, operating agreements or other
     organizational or governing documents without the prior written consent of
     Agent.

         7. Pledgors' Rights. As long as no Default or Event of Default shall
have occurred and be continuing and until written notice shall be given to
Pledgors in accordance with Section 8(a) hereof:

            (a) Pledgors shall have the right, from time to time, to vote and
     give consents with respect to the Pledged Collateral, or any part thereof
     for all purposes not inconsistent with the provisions of this Agreement,
     the Credit Agreement or any other Loan Document; provided, however, that no
     vote shall be cast, and no consent shall be given or action taken, which
     would have the effect of impairing the position or interest of Agent in
     respect of the Pledged Collateral or which would authorize, effect or
     consent to (unless and to the extent expressly permitted by the Credit
     Agreement):

                (i)   the dissolution or liquidation, in whole or in part, of a
     Pledged Entity;

                (ii)  the consolidation or merger of a Pledged Entity with any
     other Person;

                (iii) the sale, disposition or encumbrance of all or
     substantially all of the assets of a Pledged Entity, except for Liens in
     favor of Agent;

                (iv)  any change in the authorized number of shares, the stated
     capital or the authorized share capital of a Pledged Entity or the issuance
     of any additional shares of such Pledged Entity's Stock or the issuance of
     any other interests convertible into or granting the right to purchase or
     receive any additional shares of stock; or

                                       6

<PAGE>

                         (v)     the alteration of the voting rights with
     respect to the Stock of a Pledged Entity;

                    (b)

                         (i)     Pledgors shall be entitled, from time to time,
     to collect and receive for its own use all cash dividends, other
     distributions and interest paid in respect of the Pledged Collateral to the
     extent not in violation of the Credit Agreement other than any and all: (A)
     dividends, other distributions and interest paid or payable other than in
     cash in respect of any Pledged Collateral, and instruments and other
     property received, receivable or otherwise distributed in respect of, or in
     exchange for, any Pledged Collateral; (B) dividends and other distributions
     paid or payable in cash in respect of any Pledged Shares in connection with
     a partial or total liquidation or dissolution or in connection with a
     reduction of capital, capital surplus or paid-in capital of a Pledged
     Entity; and (C) cash paid, payable or otherwise distributed, in respect of
     principal of, or in redemption of, or in exchange for, any Pledged
     Collateral; provided, however, that until actually paid all rights to such
     distributions shall remain subject to the Lien created by this Agreement;
     and

                         (ii)    all dividends, other distributions and interest
     (other than such cash dividends, other distributions and interest as are
     permitted to be paid to Pledgors in accordance with clause (i) above) in
     respect of any of the Pledged Shares or Pledged Indebtedness, whenever paid
     or made, shall be delivered to Agent to hold as Pledged Collateral and
     shall, if received by any Pledgor, be received in trust for the benefit of
     Agent, be segregated from the other property or funds of such Pledgor, and
     be forthwith delivered to Agent as Pledged Collateral in the same form as
     so received (with any necessary endorsement).

               8.   Defaults and Remedies; Proxy.

                    (a)  Upon the occurrence of an Event of Default and during
     the continuation of such Event of Default, and concurrently with written
     notice to Pledgors, Agent (personally or through an agent) is hereby
     authorized and empowered to transfer and register in its name or in the
     name of its nominee the whole or any part of the Pledged Collateral, to
     exchange certificates or instruments representing or evidencing Pledged
     Collateral for certificates or instruments of smaller or larger
     denominations, to exercise the voting and all other rights as a holder with
     respect thereto, to collect and receive all cash dividends, interest,
     principal and other distributions made thereon, to sell in one or more
     sales after ten (10) days' notice of the time and place of any public sale
     or of the time at which a private sale is to take place (which notice
     Pledgors agree is commercially reasonable) the whole or any part of the
     Pledged Collateral and to otherwise act with respect to the Pledged
     Collateral as though Agent was the outright owner thereof. Any sale shall
     be made at a public or private sale at

                                        7

<PAGE>

     Agent's place of business, or at any place to be named in the notice of
     sale, either for cash or upon credit or for future delivery at such price
     as Agent may deem fair, and Agent may be the purchaser of the whole or any
     part of the Pledged Collateral so sold and hold the same thereafter in its
     own right free from any claim of Pledgors or any right of redemption. Each
     sale shall be made to the highest bidder, but Agent reserves the right to
     reject any and all bids at such sale which, in its discretion, it shall
     deem inadequate. Demands of performance, except as otherwise herein
     specifically provided for, notices of sale, advertisements and the presence
     of property at sale are hereby waived and any sale hereunder may be
     conducted by an auctioneer or any officer or agent of Agent. EACH PLEDGOR
     HEREBY IRREVOCABLY CONSTITUTES AND APPOINTS AGENT AS THE PROXY AND
     ATTORNEY-IN-FACT OF SUCH PLEDGOR WITH RESPECT TO THE PLEDGED COLLATERAL,
     INCLUDING THE RIGHT TO VOTE THE PLEDGED SHARES FOLLOWING THE OCCURRENCE AND
     DURING THE CONTINUANCE OF AN EVENT OF DEFAULT, WITH FULL POWER OF
     SUBSTITUTION TO DO SO. THE APPOINTMENT OF AGENT AS PROXY AND
     ATTORNEY-IN-FACT IS COUPLED WITH AN INTEREST AND SHALL BE IRREVOCABLE UNTIL
     THE TERMINATION DATE. IN ADDITION TO THE RIGHT TO VOTE THE PLEDGED SHARES,
     THE APPOINTMENT OF AGENT AS PROXY AND ATTORNEY-IN-FACT SHALL INCLUDE THE
     RIGHT TO EXERCISE ALL OTHER RIGHTS, POWERS, PRIVILEGES AND REMEDIES TO
     WHICH A HOLDER OF THE PLEDGED SHARES WOULD BE ENTITLED (INCLUDING GIVING OR
     WITHHOLDING WRITTEN CONSENTS OF SHAREHOLDERS OR MEMBERS, CALLING SPECIAL
     MEETINGS OF SHAREHOLDERS OR MEMBERS AND VOTING AT SUCH MEETINGS). SUCH
     PROXY SHALL BE EFFECTIVE, AUTOMATICALLY AND WITHOUT THE NECESSITY OF ANY
     ACTION (INCLUDING ANY TRANSFER OF ANY PLEDGED SHARES ON THE RECORD BOOKS OF
     THE ISSUER THEREOF) BY ANY PERSON (INCLUDING THE ISSUER OF THE PLEDGED
     SHARES OR ANY OFFICER OR AGENT THEREOF), UPON THE OCCURRENCE AND DURING THE
     CONTINUANCE OF AN EVENT OF DEFAULT. NOTWITHSTANDING THE FOREGOING, AGENT
     SHALL NOT HAVE ANY DUTY TO EXERCISE ANY SUCH RIGHT OR TO PRESERVE THE SAME
     AND SHALL NOT BE LIABLE FOR ANY FAILURE TO DO SO OR FOR ANY DELAY IN DOING
     SO.

                    (b)  If, at the original time or times appointed for the
     sale of the whole or any part of the Pledged Collateral, the highest bid,
     if there be but one sale, shall be inadequate to discharge in full all the
     Secured Obligations, or if the Pledged Collateral be offered for sale in
     lots, if at any of such sales, the highest bid for the lot offered for sale
     would indicate to Agent, in its discretion, that the proceeds of the sales
     of the whole of the Pledged Collateral would be unlikely to be sufficient
     to discharge all the Secured Obligations, Agent may, on one or more

                                        8

<PAGE>

     occasions and in its discretion, postpone any of said sales by public
     announcement at the time of sale or the time of previous postponement of
     sale, and no other notice of such postponement or postponements of sale
     need be given, any other notice being hereby waived; provided, however,
     that any sale or sales made after such postponement shall be after ten (10)
     days' notice to Pledgors.

                    (c)  If, at any time when Agent in its sole discretion
     determines, following the occurrence and during the continuance of an Event
     of Default, that, in connection with any actual or contemplated exercise of
     its rights (when permitted under this Section 8) to sell the whole or any
     part of the Pledged Collateral hereunder, it is necessary or advisable to
     effect a public registration of all or part of the Pledged Collateral
     pursuant to the Securities Act of 1933, as amended (or any similar statute
     then in effect) (the "Act"), Pledgors shall, in an expeditious manner,
     cause the Pledged Entities listed on Part A and Part B of Schedule I to:

                         (i)     Prepare and file with the Securities and
     Exchange Commission (the "Commission") a registration statement with
     respect to the Pledged Collateral and in good faith use commercially
     reasonable efforts to cause such registration statement to become and
     remain effective;

                         (ii)    Prepare and file with the Commission such
     amendments and supplements to such registration statement and the
     prospectus used in connection therewith as may be necessary to keep such
     registration statement effective and to comply with the provisions of the
     Act with respect to the sale or other disposition of the Pledged Collateral
     covered by such registration statement whenever Agent shall desire to sell
     or otherwise dispose of the Pledged Collateral;

                         (iii)   Furnish to Agent such numbers of copies of a
     prospectus and a preliminary prospectus, in conformity with the
     requirements of the Act, and such other documents as Agent may request in
     order to facilitate the public sale or other disposition of the Pledged
     Collateral by Agent;

                         (iv)    Use commercially reasonable efforts to register
     or qualify the Pledged Collateral covered by such registration statement
     under such other securities or blue sky laws of such jurisdictions within
     the United States and Puerto Rico as Agent shall request, and do such other
     reasonable acts and things as may be required of it to enable Agent to
     consummate the public sale or other disposition in such jurisdictions of
     the Pledged Collateral by Agent;

                         (v)     Furnish, at the request of Agent, on the date
     that the Pledged Collateral is delivered to the underwriters for sale
     pursuant to such registration or, if the security is not being sold through
     underwriters, on the date that the registration statement with respect to
     such Pledged Collateral becomes

                                       9

<PAGE>

     effective, (A) an opinion, dated such date, of the independent counsel
     representing such registrant for the purposes of such registration,
     addressed to the underwriters, if any, and in the event the Pledged
     Collateral are not being sold through underwriters, then to Agent, in
     customary form and covering matters of the type customarily covered in such
     legal opinions; and (B) a comfort letter, dated such date, from the
     independent certified public accountants of such registrant, addressed to
     the underwriters, if any, and in the event the Pledged Collateral are not
     being sold through underwriters, then to Agent, in a customary form and
     covering matters of the type customarily covered by such comfort letters
     and as the underwriters or Agent shall reasonably request. The opinion of
     counsel referred to above shall additionally cover such other legal matters
     with respect to the registration in respect of which such opinion is being
     given as Agent may reasonably request. The letter referred to above from
     the independent certified public accountants shall additionally cover such
     other financial matters (including information as to the period ending not
     more than five (5) Business Days prior to the date of such letter) with
     respect to the registration in respect of which such letter is being given
     as Agent may reasonably request; and

                         (vi) Otherwise use commercially reasonable efforts to
     comply with all applicable rules and regulations of the Commission, and
     make available to its security holders, as soon as reasonably practicable
     but not later than 18 months after the effective date of the registration
     statement, an earnings statement covering the period of at least 12 months
     beginning with the first full month after the effective date of such
     registration statement, which earnings statement shall satisfy the
     provisions of Section 11(a) of the Act.

                    (d)  All expenses incurred in complying with Section 8(c)
     hereof, including, without limitation, all registration and filing fees
     (including all expenses incident to filing with the National Association of
     Securities Dealers, Inc.), printing expenses, fees and disbursements of
     counsel for the registrant, the fees and expenses of counsel for Agent,
     expenses of the independent certified public accountants (including any
     special audits incident to or required by any such registration) and
     expenses of complying with the securities or blue sky laws or any
     jurisdictions, shall be paid by Pledgors.

                    (e)  If, at any time when Agent shall determine to exercise
     its right to sell the whole or any part of the Pledged Collateral
     hereunder, such Pledged Collateral or the part thereof to be sold shall
     not, for any reason whatsoever, be effectively registered under the Act,
     Agent may, in its discretion (subject only to applicable requirements of
     law), sell such Pledged Collateral or part thereof by private sale in such
     manner and under such circumstances as Agent may deem necessary or
     advisable, but subject to the other requirements of this Section 8, and
     shall not be required to effect such registration or to cause the same to
     be effected. Without limiting the generality of the foregoing, in any such

                                       10

<PAGE>

     event, Agent in its discretion (x) may, in accordance with applicable
     securities laws, proceed to make such private sale notwithstanding that a
     registration statement for the purpose of registering such Pledged
     Collateral or part thereof could be or shall have been filed under said Act
     (or similar statute), (y) may approach and negotiate with a single possible
     purchaser to effect such sale, and (z) may restrict such sale to a
     purchaser who is an accredited investor under the Act and who will
     represent and agree that such purchaser is purchasing for its own account,
     for investment and not with a view to the distribution or sale of such
     Pledged Collateral or any part thereof. In addition to a private sale as
     provided above in this Section 8, if any of the Pledged Collateral shall
     not be freely distributable to the public without registration under the
     Act (or similar statute) at the time of any proposed sale pursuant to this
     Section 8, then Agent shall not be required to effect such registration or
     cause the same to be effected but, in its discretion (subject only to
     applicable requirements of law), may require that any sale hereunder
     (including a sale at auction) be conducted subject to restrictions:

                         (i)     as to the financial sophistication and ability
     of any Person permitted to bid or purchase at any such sale;

                         (ii)    as to the content of legends to be placed upon
     any certificates representing the Pledged Collateral sold in such sale,
     including restrictions on future transfer thereof;

                         (iii)   as to the representations required to be made
     by each Person bidding or purchasing at such sale relating to that Person's
     access to financial information about any Pledgor and such Person's
     intentions as to the holding of the Pledged Collateral so sold for
     investment for its own account and not with a view to the distribution
     thereof; and

                         (iv)    as to such other matters as Agent may, in its
     discretion, deem necessary or appropriate in order that such sale
     (notwithstanding any failure so to register) may be effected in compliance
     with the Bankruptcy Code and other laws affecting the enforcement of
     creditors' rights and the Act and all applicable state securities laws.

                    (f)  Pledgors recognize that Agent may be unable to effect a
     public sale of any or all the Pledged Collateral and may be compelled to
     resort to one or more private sales thereof in accordance with clause (e)
     above. Pledgors also acknowledge that any such private sale may result in
     prices and other terms less favorable to the seller than if such sale were
     a public sale and, notwithstanding such circumstances, agrees that any such
     private sale shall not be deemed to have been made in a commercially
     unreasonable manner solely by virtue of such sale being private. Agent
     shall be under no obligation to delay a sale of any of the Pledged
     Collateral for the period of time necessary to permit the Pledged Entity to
     register such securities for public sale under the Act, or under

                                       11

<PAGE>

     applicable state securities laws, even if the applicable Pledgor and the
     Pledged Entity would agree to do so.

                    (g)  Each Pledgor agrees to the maximum extent permitted by
     applicable law that following the occurrence and during the continuance of
     an Event of Default it will not at any time plead, claim or take the
     benefit of any appraisal, valuation, stay, extension, moratorium or
     redemption law now or hereafter in force in order to prevent or delay the
     enforcement of this Agreement, or the absolute sale of the whole or any
     part of the Pledged Collateral or the possession thereof by any purchaser
     at any sale hereunder, and each Pledgor waives the benefit of all such laws
     to the extent it lawfully may do so. Each Pledgor agrees that it will not
     interfere with any right, power and remedy of Agent provided for in this
     Agreement or now or hereafter existing at law or in equity or by statute or
     otherwise, or the exercise or beginning of the exercise by Agent of any one
     or more of such rights, powers or remedies. No failure or delay on the part
     of Agent to exercise any such right, power or remedy and no notice or
     demand which may be given to or made upon any Pledgor by Agent with respect
     to any such remedies shall operate as a waiver thereof, or limit or impair
     Agent's right to take any action or to exercise any power or remedy
     hereunder, without notice or demand, or prejudice its rights as against any
     Pledgor in any respect.

                    (h)  Each Pledgor further agrees that a breach of any of the
     covenants contained in this Section 8 will cause irreparable injury to
     Agent, that Agent shall have no adequate remedy at law in respect of such
     breach and, as a consequence, agrees that each and every covenant contained
     in this Section 8 shall be specifically enforceable against each Pledgor,
     and each Pledgor hereby waives and agrees not to assert any defenses
     against an action for specific performance of such covenants except for a
     defense that the Secured Obligations are not then due and payable in
     accordance with the agreements and instruments governing and evidencing
     such obligations.

          9.        Waiver. No delay on Agent's part in exercising any power of
sale, Lien, option or other right hereunder, and no notice or demand which may
be given to or made upon any Pledgor by Agent with respect to any power of sale,
Lien, option or other right hereunder, shall constitute a waiver thereof, or
limit or impair Agent's right to take any action or to exercise any power of
sale, Lien, option, or any other right hereunder, without notice or demand, or
prejudice Agent's rights as against any Pledgor in any respect.

          10.       Assignment. Agent may assign, indorse or transfer any
instrument evidencing all or any part of the Secured Obligations as provided in,
and in accordance with, the Credit Agreement, and the holder of such instrument
shall be entitled to the benefits of this Agreement.

                                       12

<PAGE>

               11. Termination. Immediately following the Termination Date,
Agent shall deliver to each Pledgor the Pledged Collateral pledged by such
Pledgor at the time subject to this Agreement and all instruments of assignment
executed in connection therewith, free and clear of the Liens hereof and, except
as otherwise provided herein, all of Pledgors' obligations hereunder shall at
such time terminate.

               12. Lien Absolute. All rights of Agent hereunder, and all
obligations of Pledgors hereunder, shall be absolute and unconditional
irrespective of:

                   (a) any lack of validity or enforceability of the Credit
         Agreement, any other Loan Document or any other agreement or instrument
         governing or evidencing any Secured Obligations;

                   (b) any change in the time, manner or place of payment of, or
         in any other term of, all or any part of the Secured Obligations, or
         any other amendment or waiver of or any consent to any departure from
         the Credit Agreement, any other Loan Document or any other agreement or
         instrument governing or evidencing any Secured Obligations;

                   (c) any exchange, release or non-perfection of any other
         Collateral, or any release or amendment or waiver of or consent to
         departure from any guaranty, for all or any of the Secured Obligations;

                   (d) the insolvency of any Credit Party; or

                   (e) any other circumstance which might otherwise constitute a
         defense available to, or a discharge of, any Pledgor.

               13. Release. Each Pledgor, in its capacity as Pledgor, consents
and agrees that Agent may at any time, or from time to time, in its discretion:

                   (a) renew, extend or change the time of payment, and/or the
         manner, place or terms of payment of all or any part of the Secured
         Obligations; and

                   (b) exchange, release and/or surrender all or any of the
         Collateral (including the Pledged Collateral), or any part thereof, by
         whomsoever deposited, which is now or may hereafter be held by Agent in
         connection with all or any of the Secured Obligations; all in such
         manner and upon such terms as Agent may deem proper, and without notice
         to or further assent from Pledgors, it being hereby agreed that
         Pledgors shall be and remain bound upon this Agreement, irrespective of
         the value or condition of any of the Collateral, and notwithstanding
         any such change, exchange, settlement, compromise, surrender, release,
         renewal or extension, and notwithstanding also that the Secured
         Obligations may, at any time, exceed the aggregate principal amount
         thereof set

                                       13

<PAGE>

         forth in the Credit Agreement, or any other agreement governing any
         Secured Obligations. Pledgors hereby waive notice of acceptance of this
         Agreement, and also presentment, demand, protest and notice of dishonor
         of any and all of the Secured Obligations, and promptness in commencing
         suit against any party hereto or liable hereon, and in giving any
         notice to or of making any claim or demand hereunder upon Pledgors. No
         act or omission of any kind on Agent's part shall in any event affect
         or impair this Agreement.

               14. Reinstatement. This Agreement shall remain in full force and
effect and continue to be effective should any petition be filed by or against
any Credit Party, Pledgor or any Pledged Entity for liquidation or
reorganization, should any Credit Party, Pledgor or any Pledged Entity become
insolvent or make an assignment for the benefit of creditors or should a
receiver or trustee be appointed for all or any significant part of any Credit
Party, Pledgor's or any Pledged Entity's assets, and shall continue to be
effective or be reinstated, as the case may be, if at any time payment and
performance of the Secured Obligations, or any part thereof, is, pursuant to
applicable law, rescinded or reduced in amount, or must otherwise be restored or
returned by any obligee of the Secured Obligations, whether as a "voidable
preference", "fraudulent conveyance", or otherwise, all as though such payment
or performance had not been made. In the event that any payment, or any part
thereof, is rescinded, reduced, restored or returned, the Secured Obligations
shall be reinstated and deemed reduced only by such amount paid and not so
rescinded, reduced, restored or returned.

               15. Miscellaneous.

                   (a) Agent may execute any of its duties hereunder by or
         through agents or employees and shall be entitled to advice of counsel
         concerning all matters pertaining to its duties hereunder.

                   (b) Pledgors jointly and severally agree to promptly
         reimburse Agent for actual out-of-pocket expenses, including, without
         limitation, reasonable counsel fees, incurred by Agent in connection
         with the administration and enforcement of this Agreement.

                   (c) Neither Agent nor any Lender or any of its respective
         officers, directors, employees, agents or counsel shall be liable for
         any action lawfully taken or omitted to be taken by it or them
         hereunder or in connection herewith, except for its or their own gross
         negligence or willful misconduct as finally determined by a court of
         competent jurisdiction.

                   (d) THIS AGREEMENT SHALL BE BINDING UPON AND INURE TO THE
         BENEFIT OF EACH PLEDGOR AND AGENT AND THEIR RESPECTIVE SUCCESSORS AND
         ASSIGNS (INCLUDING IN THE CASE OF ANY PLEDGOR A DEBTOR-IN-POSSESSION ON
         BEHALF OF SUCH PLEDGOR). NO PLEDGOR MAY ASSIGN, SELL, HYPOTHECATE OR

                                       14

<PAGE>

         OTHERWISE TRANSFER ANY INTEREST IN OR OBLIGATION UNDER THIS AGREEMENT
         WITHOUT THE PRIOR EXPRESS WRITTEN CONSENT OF AGENT. NO SALES OF
         PARTICIPATIONS, OTHER SALES, ASSIGNMENTS, TRANSFERS OR OTHER
         DISPOSITIONS OF ANY AGREEMENT GOVERNING OR INSTRUMENT EVIDENCING THE
         SECURED OBLIGATIONS OR ANY PORTION THEREIN OR INTEREST THEREON SHALL IN
         ANY MANNER IMPAIR THE LIEN GRANTED TO AGENT FOR ITS AND LENDERS BENEFIT
         HEREUNDER.

                   (e) THIS AGREEMENT, INCLUDING ALL MATTERS OF CONSTRUCTION,
         VALIDITY AND PERFORMANCE, AND THE OBLIGATIONS ARISING HEREUNDER SHALL
         BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE
         INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND
         PERFORMED IN THAT STATE AND ANY APPLICABLE LAWS OF THE UNITED STATES OF
         AMERICA. EACH PLEDGOR HEREBY CONSENTS AND AGREES THAT THE STATE OR
         FEDERAL COURTS LOCATED IN NEW YORK COUNTY, CITY OF NEW YORK, NEW YORK
         SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR
         DISPUTES BETWEEN PLEDGORS, AGENT AND LENDERS PERTAINING TO THIS
         AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS OR TO ANY MATTER ARISING
         OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE OTHER LOAN
         DOCUMENTS; PROVIDED, THAT AGENT, LENDERS AND THE PLEDGORS ACKNOWLEDGE
         THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT
         LOCATED OUTSIDE OF NEW YORK COUNTY; PROVIDED FURTHER, THAT NOTHING IN
         THIS AGREEMENT SHALL BE DEEMED OR OPERATE TO PRECLUDE AGENT FROM
         BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO
         REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY FOR THE OBLIGATIONS, OR
         TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF AGENT. EACH
         PLEDGOR EXPRESSLY SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION
         IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH PLEDGOR
         HEREBY WAIVES ANY OBJECTION THAT SUCH PLEDGOR MAY HAVE BASED UPON LACK
         OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS AND
         HEREBY CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS
         DEEMED APPROPRIATE BY SUCH COURT. EACH PLEDGOR HEREBY WAIVES PERSONAL
         SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH
         ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINTS AND
         OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO
         SUCH PLEDGOR

                                       15

<PAGE>

         AT THE ADDRESS SET FORTH IN ANNEX I OF THE CREDIT AGREEMENT AND THAT
         SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF SUCH
         PLEDGOR'S ACTUAL RECEIPT THEREOF OR 3 DAYS AFTER DEPOSIT IN THE UNITED
         STATES MAILS, PROPER POSTAGE PREPAID.

                   (f) BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX
         FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY AN
         EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND
         FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES
         DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH
         APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE
         BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, THE PARTIES HERETO
         WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING
         BROUGHT TO RESOLVE ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR
         OTHERWISE, AMONG AGENT, LENDERS AND ANY PLEDGOR ARISING OUT OF,
         CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP
         ESTABLISHED AMONG THEM IN CONNECTION WITH, THIS AGREEMENT OR ANY OF THE
         OTHER LOAN DOCUMENTS OR THE TRANSACTIONS RELATED THERETO.

                   (g) Agent's or any Lender's failure, at any time or times, to
         require strict performance by the Pledgors of any provision of this
         Agreement shall not waive, affect or diminish any right of Agent
         thereafter to demand strict compliance and performance herewith or
         therewith. None of the undertakings, agreements, warranties, covenants
         and representations of any Pledgor contained in this Agreement by any
         Pledgor shall be deemed to have been suspended or waived by Agent,
         unless such waiver or suspension is by an instrument in writing signed
         by an officer of or other authorized employee of Agent, and directed to
         Borrowers specifying such suspension or waiver.

               16. Severability. Whenever possible, each provision of this
Agreement shall be interpreted in a manner as to be effective and valid under
applicable law, but if any provision of this Agreement shall be prohibited by or
invalid under applicable law, such provision shall be ineffective only to the
extent of such prohibition or invalidity without invalidating the remainder of
such provision or the remaining provisions of this Agreement. This Agreement is
to be read, construed and applied together with the Credit Agreement and the
other Loan Documents which, taken together, set forth the complete understanding
and agreement of Agent, Lenders and Pledgors with respect to the matters
referred to herein and therein.

                                       16

<PAGE>

               17. Notices. Whenever it is provided herein that any notice,
demand, request, consent, approval, declaration or other communication shall or
may be given to or served upon any of the parties by any other party, or
whenever any of the parties desires to give or serve upon another any such
communication with respect to this Agreement, each such notice, demand, request,
consent, approval, declaration or other communication shall be in writing and
shall be addressed to the party to be notified at the address set forth in Annex
I to the Credit Agreement (or such other address as may be substituted by notice
given in the manner required by Section 11.10 of the Credit Agreement), and
given in the manner required by Section 11.10 of the Credit Agreement.

               18. Section Titles. The Section titles contained in this
Agreement are and shall be without substantive meaning or content of any kind
whatsoever and are not a part of the agreement between the parties hereto.

               19. Counterparts. This Agreement may be executed in any number of
separate counterparts, each of which shall collectively and separately
constitute one agreement.

               20. Benefit of Lenders. All security interests granted or
contemplated hereby shall be for the benefit of Agent and the other Lenders, and
all proceeds or payments realized from the Pledged Collateral in accordance
herewith shall be applied to the Obligations in accordance with the terms of the
Credit Agreement.

               21. Additional Pledgors. The initial Pledgors hereunder shall be
the parties signatories hereto on the date hereof. From time to time subsequent
to the date hereof, additional Subsidiaries of any Pledgor may become parties
hereto, as additional Pledgors (each, an "Additional Pledgor"), by executing a
counterpart of this Agreement substantially in the form of Exhibit A attached
hereto. Upon delivery of any such counterpart to Agent, notice of which is
hereby waived by the Pledgors, each Additional Pledgor shall be a Pledgor and
shall be as fully a party hereto as if such Additional Pledgor were an original
signatory hereto. Each Pledgor expressly agrees that its obligations arising
hereunder shall not be affected or diminished by the addition or release of any
other Pledgor hereunder nor by any election of Agent not to cause any Subsidiary
of any Pledgor to become an Additional Pledgor hereunder. This Agreement shall
be fully effective as to any Pledgor that is or becomes a party hereto
regardless of whether any other Person becomes or fails to become or ceases to
be a Pledgor hereunder.

               22. No Strict Construction. The parties hereto have participated
jointly in the negotiation and drafting of this Agreement. In the event an
ambiguity or question of intent or interpretation arises, this Agreement shall
be construed as if drafted jointly by the parties hereto and no presumption or
burden of proof shall arise favoring or disfavoring any party by virtue of the
authorship of any provisions of this Agreement.

                                       17

<PAGE>

               23. Further Assurances. Each Pledgor executing this Agreement
agrees that it shall and shall cause each other Pledgor to, at such Pledgor's
expense and upon request of Agent, duly execute and deliver, or cause to be duly
executed and delivered, to Agent such further instruments and do and cause to be
done such further acts as may be necessary or proper in the reasonable opinion
of Agent to carry out more effectively the provisions and purposes of this
Agreement or any other Loan Document.

               24. Advice of Counsel. Each of the parties represents to each
other party hereto that it has discussed this Agreement and, specifically, the
provisions of Section 15(e) and (f), with its counsel.

               25. Intercreditor Agreements. The Lenders have agreed, among
themselves, that the Lien created in favor of the holders of A Obligations shall
be prior and superior to any Lien or other interests created in favor of or held
by the holders of the B Obligations in respect of the Collateral, such priority
as between the holders of the A Obligations and the holders of the B
Obligations, shall give the holders of the A Obligations all the rights powers
and privileges of a first priority secured creditor under the Code, other
applicable law and otherwise in respect of the Collateral, with the rights,
powers and privileges of holders of the B Obligations in respect of the
Collateral being subject to and subordinate to the Lien for the benefit of the
holders of the A Obligations. The application and receipt of Proceeds of
Collateral are subject to the provisions of Section 1.18 of the Credit
Agreement. The Lien priorities provided herein and in the Collateral Documents
shall not be altered or otherwise affected by any modification, renewal,
restatement, extension or refinancing of any Obligations. The Lenders
acknowledge and consent to the granting of the Liens on the Collateral as
provided for herein and shall not (and hereby waive any right to) contest in any
proceeding the validity, priority or enforceability of the Lien on the
Collateral of the holders of A Obligations. The provisions of this Section 25
and the rights and benefits hereof shall inure solely to the benefit of the
Lenders and their respective successors and permitted assigns and no other
Person (including, without limitation, the Credit Parties) shall have or be
entitled to assert rights or benefits under this Section 25.

                            [SIGNATURE PAGE FOLLOWS]

                                       18

<PAGE>

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

                                               PLEDGORS:

                                               COYNE INTERNATIONAL ENTERPRISES
                                               CORP.

                                               By:_________________________
                                                  Name:
                                                  Title:

                                               BLUE RIDGE TEXTILE MANUFACTURING
                                               INC.

                                               By:_________________________
                                                  Name:
                                                  Title:

                                               OHIO GARMENT RENTAL, INC.

                                               By:_________________________
                                                  Name:
                                                  Title:

                                               AGENT:

                                               GENERAL ELECTRIC CAPITAL
                                               CORPORATION, as Agent

                                               By:_________________________
                                                  Name:
                                                  Its: Duly Authorized Signatory

<PAGE>

                                   SCHEDULE I

                                     PART A

                                 PLEDGED SHARES

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------
                                            Class                    Number       % of
                                             of        Stock Cert.     of      Outstanding
      Pledgor           Pledged Entity      Stock         No.(s)     Shares      Shares
      -------           --------------      -----         ------     ------      ------
--------------------------------------------------------------------------------------------
<S>                   <C>                   <C>        <C>           <C>      <C>
Coyne International   Blue Ridge Textile    Common     V-2           100      100%
Enterprises Corp.     Manufacturing, Inc.   Voting

                                            Common     NV-2          10,000
                                            Non-
                                            Voting
--------------------------------------------------------------------------------------------
Coyne International   Ohio Garment Rental,  Common     45            25,000   100%
Enterprises Corp.     Inc.
--------------------------------------------------------------------------------------------
</TABLE>

                                     PART B

                              PLEDGED INDEBTEDNESS

Each Intercompany Note evidencing intercompany Indebtedness owing to a Pledgor
from another Credit Party.

<PAGE>

                                   SCHEDULE II

                                PLEDGE AMENDMENT

          This Pledge Amendment, dated ________________, ___ is delivered
pursuant to Section 6(d) of the Pledge Agreement referred to below. All defined
terms herein shall have the meanings ascribed thereto or incorporated by
reference in the Pledge Agreement. The undersigned hereby certifies that the
representations and warranties in Section 5 of the Pledge Agreement are and
continue to be true and correct, both as to the promissory notes, instruments,
Stock pledged prior to this Pledge Amendment and as to the promissory notes,
instruments, Stock pledged pursuant to this Pledge Amendment. The undersigned
further agrees that this Pledge Amendment may be attached to that certain Pledge
Agreement, dated as of July 2, 2002, among the signatories thereto, each as a
Pledgor, and General Electric Capital Corporation, as Agent, (the "Pledge
Agreement") and that the Pledged Collateral listed on this Pledge Amendment
shall be and become a part of the Pledged Collateral referred to in said Pledge
Agreement and shall secure all Secured Obligations referred to in said Pledge
Agreement. The undersigned acknowledges that any promissory notes, instruments,
Stock interests not included in the Pledged Collateral at the discretion of
Agent may not otherwise be pledged by the undersigned to any other Person or
otherwise used as security for any obligations other than the Secured
Obligations.

                                                   [NAME OF PLEDGOR]

                                                   By:__________________________
                                                      Name:
                                                      Title:

PLEDGED SHARES:

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------
Name and                                   Class       Certificate     Number
Address of Pledgor       Pledged Entity    of Stock     Number(s)      of Shares
------------------       --------------    --------    ----------      ---------
-------------------------------------------------------------------------------------
<S>                      <C>               <C>         <C>             <C>

-------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------
</TABLE>

<PAGE>

PLEDGED SHARES: MEMBERSHIP INTERESTS:

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------
                                      Description
                                       of Pledged
                                        Limited
                                       Liability
                                        Company
                                          and                 Number        % of
                                       Operating    Cert.       of       Outstanding
      Pledgor         Pledged Entity   Agreement    No.(s)   Interests    Interests
      -------         --------------   ---------    ------   ---------    ---------
--------------------------------------------------------------------------------------
<S>                   <C>              <C>          <C>      <C>          <C>

--------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------
</TABLE>

PLEDGED INDEBTEDNESS

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
                            Initial             Issue Date       Maturity      Interest Rate
                            -------             ----------       --------      -------------
Maker                       Principal Amount                     Date
-----                       ----------------                     ----
----------------------------------------------------------------------------------------------
<S>                         <C>                 <C>              <C>           <C>

----------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                                  SCHEDULE III
                           ACKNOWLEDGMENT AND CONSENT

General Electric Capital Corporation
355 Madison Avenue, 12th Floor
New York, New York 10017
Attn: Coyne Account Manager

     [Name of Pledged Entity] ("Company") hereby (i) acknowledges receipt of a
fully executed copy of the Pledge Agreement, dated as of July __, 2002 (the
"Agreement"; capitalized terms used herein without definition have the meanings
provided therein), made by [Name of Pledgor] ("Pledgor") and certain other
pledgors in favor of General Electric Capital Corporation, as Agent ("Agent");
(ii) consents and agrees to the pledge by Pledgor of the Pledged Collateral
pursuant to the Agreement and to all of the other terms and provisions of the
Agreement; (iii) agrees to comply with all instructions received by it from
Agent without further consent by Pledgor; [(iv) irrevocably waives any breach or
default under the Operating Agreement as a result of the execution, delivery and
performance by Pledgor and Agent of the Agreement; (v) advises Pledgor and Agent
that a pledge of the Pledged Stock consisting of membership interests in limited
liability companies set forth on Schedule I to the Agreement has been registered
on the books of Company and in the name of the Agent and agrees to so register
any additional Pledged Stock consisting of a membership interest in a limited
liability company; (vi) represents and warrants that, except for the pledge in
favor of Agent, there are no liens, restrictions or adverse claims to which the
Pledged Collateral is or may be subject as of the date hereof; (vii) except with
the prior written consent of Agent, agrees not to admit any new Members to
Company or any limited liability company to which Company is a Member;]/1/ and
(viii) [(iv)] consents and agrees to any transfer of the Pledged Collateral
pursuant to Section 8 of the Agreement.

     IN WITNESS WHEREOF, a duly authorized officer of the undersigned has
executed and delivered this Acknowledgment and Consent as of this ___ day of
____, 200_

                                             [NAME OF PLEDGED ENTITY]

                                            By:___________________________
                                            Name:
                                            Title:

----------------------

/1/  Insert clauses (iv) to (vii) only for Pledged Entities which are limited
liability companies.

<PAGE>

                                    EXHIBIT A
                                       TO
                                PLEDGE AGREEMENT

                         COUNTERPART TO PLEDGE AGREEMENT

          This counterpart, dated _________, [200__], is delivered pursuant to
Section 21 of that certain Pledge Agreement dated as of July __, 2002 (as from
time to time amended, modified or supplemented, the "Pledge Agreement"; the
terms defined therein and not otherwise defined herein being used as therein
defined), among the signatories thereto, as Pledgors, and General Electric
Capital Corporation, as Agent. The undersigned hereby agrees (i) that this
counterpart may be attached to the Pledge Agreement, and (ii) that the
undersigned will comply with and be subject to, including representations and
warranties, all the terms and conditions of the Pledge Agreement as if it were
an original signatory thereto.

                                               [NAME OF ADDITIONAL PLEDGOR]

                                               By:_______________________
                                                  Name:
                                                  Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}]]