Document:

exhibit101amendmentno2da

Exhibit 10.1   EXECUTION VERSION   AMENDMENT NO.2   AMENDMENT NO. 2, dated as of September 3,2014 (this “Amendment”), to the Credit   Agreement dated as of January 31, 2012 (as amended by Amendment No. 1, dated as of February 21,   2013, and as further amended, supplemented, amended and restated or otherwise modified from time to   time) (the “Credit Mreement”) among PRESTIGE BRANDS HOLDINGS, INC., a Delaware corporation   (“Holdiiws”), PRESTIGE BRANDS, INC., a Delaware corporation (the “Borrower”), the other Guaran   ton from time to time party thereto, each lender from time to time party thereto (collectively, the “Lend   ers” and individually, a “Lender”), CITIBANK, N.A., as Administrative Agent (in such capacity, the   “Administrative Agent”) and the other Agents named therein. Capitalized terms used and not otherwise   defined herein shall have the meanings assigned to them in the Credit Agreement.   WHEREAS, Section 2.14 of the Credit Agreement permits the Borrower to establish In   cremental Commitments with existing Lenders and/or Additional Lenders pursuant to the terms and con   ditions set forth therein;   WHEREAS, in connection with the consummation of the 2014 Transactions (as defined   in Exhibit A), the Borrower desires to create a new Class of Term B-2 Loans under the Credit Agreement   in an aggregate principal amount of up to $720.0 million, with such Term B-2 Loans having identical   terms with, and having the same rights and obligations under the Loan Documents as, the Term B-I   Loans, as set forth in the Credit Agreement and Loan Documents, except as such terms are amended   hereby;   WHEREAS, each Person that executes and delivers a joinder to this Amendment substan   tially in the form of Exhibit B (a “Joinder”) as a Term B-2 Lender will make Term B-2 Loans in the   amount set forth on the signature page of such Person’s Joinder on the effective date of this Amendment   to the Borrower, the proceeds of which may be used by the Borrower to consummate the 2014 Transac   tions;   WHEREAS, the Loan Parties and Required Lenders wish to make certain other amend   ments set forth in Exhibit A pursuant to amendments authorized by Section 10.01 of the Credit Agree   ment (the “Other Amendments”);   NOW, THEREFORE, in consideration of the premises and covenants contained herein   and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowl   edged, the parties hereto, intending to be legally bound hereby, agree as follows:   Section 1. Amendments.   (a) The Credit Agreement is, effective as of the Amendment No. 2 Effective Date (as   defmed below), hereby amended to delete the stricken text (indicated textually in the same manner as the   following example: stricken text) and to add the double-underlined text (indicated textually in the same   manner as the following example: double-underlined text) as set forth in the pages of the Credit   Agreement attached as Exhibit A hereto).    

 

-2-   (b) Schedules 7.01, 7.02, 7.03, 7.08 and 7.09 attached hereto shall replace in their   entirety Sections 7.01(b), 7.02W), 7.03(b), 7.08 and 7.09 of the Confidential Disclosure Letter.   Section 2. Conditions to Effectiveness (Relating to Establishment of Term B-2   Loans).   The effectiveness of the tenns of this Amendment that relate solely to the incurrence of   the Term B-2 Loans (the “Term B-2 Amendments”) and the obligation of the Term B-2 Lender to make   its Term B-2 Loans hereunder shall be subject to the satisfaction of the following conditions precedent   (the time upon which such conditions are satisfied, the Term B-2 Loans are made and the Term B-2   Amendments become effective, the “Term B-2 Loan Funding Time”):   (a) The Administrative Agent’s receipt of the following, each of which shall be   originals or facsimiles or electronic copies (followed promptly by originals) unless otherwise specified:   (1) counterparts of this Amendment executed by (A) each Loan Party, (B)   each Term B-2 Lender and (C) the Administrative Agent;   (2) a Note executed by the Borrower in favor of each Lender requesting a   Note at least two (2) Business Days prior to the Amendment No. 2 Effective Date, if any.   (3) an opinion of (i) Kirkland & Ellis LLP, New York counsel to the Loan   Parties, dated the Amendment No. 2 Effective Date, addressed to each Arranger, the Ad   ministrative Agent and the Term B-2 Lenders, substantially in the form previously pro   vided to the Administrative Agent;   (4) (A) a certificate as to the good standing of each Loan Party as of a recent   date, from the Secretary of State of the state of its organization or a similar Governmental   Authority and (B) a certificate of a Responsible Officer of each Loan Party dated the   Amendment No. 2 Effective Date and certi1~’ing (1) to the effect that (w) attached thereto   is a true and complete copy of the certificate or articles of incorporation or organization   such Loan Party certified as of a recent date by the Secretary of State of the state of its   organization, or in the alternative (other than in the case of Insight and its Subsidiaries),   certi~’ing that such certificate or articles of incorporation or organization have not been   amended since the Amendment No. 1 Effective Date, and that such certificate or articles   are in full force and effect, (x) attached thereto is a true and complete copy of the by-laws   or operating agreements of each Loan Party as in effect on the dated the Amendment No.   2 Effective Date, or in the alternative (other than in the case of Insight and its Subsidiar   ies), certi~ing that such by-laws or operating agreements have not been amended since   the Amendment No. 1 Effective Date and (y) attached thereto is a true and complete copy   of resolutions duly adopted by the board of directors, board of managers or member, as   the case may be, of each Loan Party authorizing the execution, delivery and performance   of the Loan Documents to which such Loan Party is a party, and that such resolutions   have not been modified, rescinded or amended and are in full force and effect, or in the   alternative (other than in the case of Insight and its Subsidiaries), certifying that such res   olutions have not been amended since the Amendment No. 1 Effective Date and (II) as to   the incumbency and specimen signature of each officer executing any Loan Document on   -2-    

 

-3-   behalf of any Loan Party and signed by another officer as to the incumbency and speci   men signature of the Responsible Officer executing the certificate pursuant to this clause   (B) or in the alternative (other than in the case of Insight and its Subsidiaries), certifying   that the incumbency and specimen signature for each officer executing any Loan Docu   ment on behalf of any Loan Party has not changed since the Amendment No. 1 Effective   Date;   (5) a certificate signed by a Responsible Officer of the Borrower certifying   as to the satisfaction of the conditions set forth in paragraphs (c), (e), (f), (g) and 0) of   this Section 2; and   (6) a certificate signed by the chief financial officer, chief accounting officer   or other officer with equivalent duties of the Borrower, certifying that, afier giving effect   to the 2014 Transactions, the Borrower and its subsidiaries on a consolidated basis are   solvent.   (b) Prior to or substantially simultaneously with the borrowing under the Term B-2   Facility (i) the Insight Acquisition shall have been consummated or shall be consummated, in all material   respects in accordance with the terms of the Insight Acquisition Agreement, dated April 25, 2014, without   giving effect to any amendments, consents or waivers by you thereto that are material and adverse to the   Lenders or the Amendment No. 2 Arrangers (as reasonably determined by the Lead Arranger), without   the prior consent of the Amendment No. 2 Arrangers (such consent not to be unreasonably withheld,   delayed or conditioned) (it being understood that (a) any reduction in the purchase price of, or   consideration for, the Insight Acquisition is not material and adverse to the interests of the Lenders or the   Lead Arranger, but shall reduce the commitment for the Term B-2 Loans and (b) any amendment to the   defmition of “Material Adverse Effect” is material and adverse to the interests of the Lenders and the   Amendment No. 2 Arrangers) and (ii) the 2014 Refinancing shall have been consummated (and   customary pay-off and lien release documentation in connection therewith shall have been delivered to   the Administrative Agent).   (c) No change, effect, event, occurrence, state of facts or development shall have   occurred since December 31, 2013 that constitutes, either individually or in the aggregate, a Material   Adverse Effect (as defmed in the Insight Acquisition Agreement).   (d) With respect to Insight and its Subsidiaries, the Administrative Agent’s receipt of   the following each in form and substance reasonably satisfactory to the Administrative Agent and its legal   counsel:   (i) Security Agreement Supplement;   (ii) joinder to the Intercreditor Agreement;   (iii) joinder to the Credit Agreement;   (iv) counterpart to the Intercompany Note;   -3-    

 

-4-   (v) certificates, if any, representing the Pledged Equity of Insight and its Subsidiaries   required to be delivered pursuant to the Collateral and Guarantee Requirement, accompanied by   undated stock powers executed in blank and instruments evidencing the Pledged Debt indorsed in   blank; and   (vi) to the extent requested by the Administrative Agent, evidence that all other ac   tions, recordings and filings required by the Collateral Documents that the Administrative Agent   may deem reasonably necessary to satisfj the Collateral and Guarantee Requirement shall have   been taken, completed or otherwise provided for in a manner reasonably satisfactory to the Ad   ministrative Agent;   provided, however, that, each of the requirements set forth in this clause (d), including the delivery of   documents and instruments necessary to satisfS’ the Collateral and Guarantee Requirement (except for the   execution and delivery of the documents in clauses (i) through (iv) above and to the extent that a Lien on   such Collateral may be perfected (x) by the filing of a financing statement under the Uniform Commercial   Code or (y) by the delivery of stock certificates of Insight and its wholly owned Material Domestic Sub   sidiaries other than any Unrestricted Subsidiaries) shall not constitute conditions precedent to the borrow   ing of the Term B-2 Loans on the Amendment No. 2 Effective Date after the Borrower’s use of commer   cially reasonable efforts to provide such items on or prior to the Amendment No. 2 Effective Date or   without undue burden or expense if the Borrower agrees to deliver, or cause to be delivered, such search   results, documents and instruments, or take or cause to be taken such other actions as may be required to   perfect such security interests within ninety (90) days after the Amendment No. 2 Effective Date (subject   to extensions approved by the Administrative Agent in its reasonable discretion).   (e) The Specified Representations shall be true and correct in all material respects   (or, if qualified by “materiality,” “Material Adverse Effect” or similar language, in all respects (after   giving effect to such qualification)) on and as of the Amendment No. 2 Effective Date; provided that, to   the extent that such representations and warranties specifically refer to an earlier date, they shall be true   and correct in all material respects as of such earlier date.   (f) The representations and warranties made by Insight in the Insight Acquisition   Agreement that are material to the interests of the Lenders shall be true and correct, but only to the extent   that Holdings or the Borrower has the right to terminate its obligations under the Insight Acquisition   Agreement as a result of a breach of such representations and warranties.   (g) The Borrower and its Restricted Subsidiaries shall be in compliance with the   covenants set forth in Section 7.11 of the Credit Agreement, determined on a Pro Forma Basis as of the   Amendment No. 2 Effective Date and the last day of the most recently ended Test Period, in each case, as   if any Term B-2 Loans had been outstanding on the last day of such fiscal quarter of the Borrower for   testing compliance therewith.   (h) The Amendment No. 2 Arrangers shall have received (a) audited consolidated   balance sheets of Holdings and related statements of income, changes in equity and cash flows of the   Borrower for the three most recent fiscal years ended at least 90 days prior to the Amendment No. 2   Effective Date, (b) audited consolidated balance sheets of Insight and related audited consolidated   statements of operations, stockholders’ equity and cash flows of Insight for the fiscal years ended   December 31, 2011, December 31, 2012 and December 31, 2013, (c) unaudited consolidated balance   -4-    

 

-5-   sheets and related statements of income, changes in equity and cash flows of Holdings for each   subsequent fiscal quarter (other than the fourth fiscal quarter of Holdings’ fiscal year) after the date of the   most recent financial statements delivered pursuant to clause (a) above and ended at least 45 days before   the Amendment No. 2 Effective Date and (d) an unaudited consolidated balance sheet of Insight as of   March 31, 2014 and related unaudited consolidated statement of operations, stockholders’ equity and cash   flows of Insight for the three (3)-month fiscal period then ended, as well as an unaudited consolidated   balance sheet and related unaudited consolidated statement of operations, stockholders’ equity and cash   flows of Insight as of the end of and for each fiscal quarter of Insight that ends after March 31, 2014 but   at least 45 days prior to the Amendment No. 2 Effective Date.   (i) The Amendment No. 2 Arrangers shall have received a pro forma consolidated   balance sheet and related pro forma consolidated statement of income of the Borrower as of and for the   twelve-month period ending on the last day of the most recently completed four-fiscal quarter period   ended at least 45 days prior to the Amendment No. 2 Effective Date (or 90 days in case such four-fiscal   quarter period is the end of the Borrower’s fiscal year), prepared after giving effect to the 2014   Transactions as if the 2014 Transactions had occurred as of such date (in the case of such balance sheet)   or at the beginning of such period (in the case of such statement of income).   (j) No Default or Event of Default shall exist, or would result from the Amendment   and related Term B-2 Loans or from the application of the proceeds therefrom.   (k) All fees required to be paid on the Amendment No. 2 Effective Date pursuant to   the Fee Letter and reasonable out-of-pocket expenses required to be paid to the Amendment No. 2   Arrangers on the Amendment No. 2 Effective Date, to the extent invoiced at least three business days   prior to the Closing Date (except as otherwise reasonably agreed by the Borrower), shall, upon the   borrowing under the Term B-2 Facility, have been paid (which amounts may be offset against the   proceeds of the Term B-2 Facility).   (1) The Administrative Agent and the Amendment No. 2 Arrangers shall have   received all documentation and other information about the Borrower and the Guarantors as has been   reasonably requested in writing at least 15 days prior to the Amendment No. 2 Effective Date by the   Administrative Agent or the Amendment No. 2 Arrangers that they reasonably determine is required by   regulatory authorities under applicable “know your customer” and anti-money laundering rules and   regulations, including without limitation the PATRIOT Act.   (m) The Administrative Agent shall have received a Committed Loan Notice not later   than 1:00 p.m. (New York time) on the Business Day prior to the date of the proposed Credit Extension.   (n) The Administrative Agent shall have received the executed counterparts of the   Joinder executed by the Borrower and each Term B-2 Lender.   Section 3. Conditions to Effectiveness of the Other Amendments.   The effectiveness of the Other Amendments set forth in Exhibit A, shall be subject to the   satisfaction of the following conditions precedent (the date upon which the Other Amendments become   effective, the “Amendment No. 2 Effective Date”):   -5-    

 

-6-   (a) The Term B-2 Loan Funding Time shall have occurred.   (b) Counterparts of this Amendment shall have been executed by the Required   Lenders (after giving effect to the incurrence of the Term B-2 Loans).   Section 4. Expenses.   The Borrower agrees to reimburse the Administrative Agent for its reasonable and docu   mented out-of-pocket expenses incurred by them in connection with this Amendment, including the rea   sonable fees, charges and disbursements of Cahill Gordon & Reindel LLP, counsel for the Administrative   Agent.   Section 5. Counterparts.   This Amendment may be executed in any number of counterparts and by different parties   hereto on separate counterparts, each of which when so executed and delivered shall be deemed to be an   original, but all of which when taken together shall constitute a single instrument. Delivery of an execut   ed counterpart of a signature page of this Amendment by facsimile transmission or electronic transmis   sion shall be effective as delivery of a manually executed counterpart hereof.   Section 6. Governin2 Law and Waiver of Right to Trial by Jury.   THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN AC   CORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. The jurisdiction and waiver of   right to trial byjury provisions in Section 10.15 and 10.16 of the Credit Agreement are incorporated here   in by reference mutatis mutandis.   Section 7. Headings.   The headings of this Amendment are for purposes of reference only and shall not limit or   otherwise affect the meaning hereof.   Section 8. Reaffirmation.   Each Loan Party hereby expressly acknowledges the terms of this Amendment and reaf   finns, as of the date hereof; (i) the covenants and agreements contained in each Loan Document to which   it is a party, including, in each case, such covenants and agreements as in effect immediately after giving   effect to this Amendment and the transactions contemplated hereby and (ii) its guarantee of the Obliga   tions (including, without limitation, in respect of the Term B-2 Loans hereunder) under the Guaranty, as   applicable, and its grant of Liens on the Collateral to secure the Obligations (including, without limita   tion, in respect of the Term B-2 Loans hereunder) pursuant to the Collateral Documents.   Section 9. Effect of Amendment.   Except as expressly set forth herein, this Amendment shall not by implication or other   wise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the   Agents under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in   any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit   -6-    

 

-7-   Agreement or any other provision of the Credit Agreement or any other Loan Document, all of which are   ratified and affirmed in all respects and shall continue in flail force and effect. For the avoidance of doubt,   on and after the Amendment No. 2 Effective Date, this Amendment shall for all purposes constitute a   Loan Document.   Section 10. FATCA.   For purposes of detennining withholding Taxes imposed under FATCA, including any   FATCA-related compliance of any Person with Section 3.01(e) of the Credit Agreement, from and after   the Amendment No. 2 Effective Date, the Borrower and the Administrative Agent agree to treat (and the   Lenders hereby authorize the Borrower and the Administrative Agent to treat) (i) the Term B-i Loans as   no longer qualifying as “grandfathered obligations” within the meaning of Treasury Regulation Section   1.1471 -2(b)(2)(i) and 1.1471 -2T(b)(2), and (ii) the Term B-2 Loans as not qualifying as “grandfathered   obligations” within the meaning of Treasury Regulation Section 1.1471 -2(b)(2)(i) and 1.1471 -2T(b)(2).   [signature pages follow]   -7-    

 

iN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly ex   ecuted as of the date first above written.   PRESTIGE BRANDS HOLDINGS, INC.1, as   Holdings and a Guarantor   By; Is! Ron Lombardi   Name: Ronald M. Lombardi   Title: Chief Financial Officer and Treasurer   PRESTIGE BRANDS, INC., as Borrower   By; Is! Ron Lombardi   Name: Ronald M. Lombardi   Title: Chief Financial Officer and Treasurer   BLACKSMiTH BRANDS, INC.   MEDTECH HOLDINGS, INC.   MEDTECH PRODUCTS INC.   PRESTIGE BRAM)S HOLDINGS, INC.2   PRESTIGE BRANDS INTERNATIONAL, INC.   PRESTIGE SERVICES CORP.   THE CUTEX COMPANY   THE SPIC AND SPAN COMPANY,   as Subsidiary Guarantors   By: Is! Ron Lombardi   Name; Ronald M. Lombardi   Title: Chief Financial Officer and Treasurer   A Delaware corporation   2 A Virginia corporation   [Prestige Brands — Signature Page to Amendment No. 2 (Term Loan)]    

 

CITIBANK N.A., as Administrative Agent   By: /5/ Caesar Wvszomirski   Name: Caesar Wyszimirski   Title: Vice President   [Prestige Brands Signature Page to Amendment No. 2 (Term Loan)]    

 

CITIBANK, N.A., as a Lender   By: Is! Justin Tichauer   Name: Justin Tichauer   Title: Vice President    

 

[See Attached]   EXHIBIT A    

 

. Exhibit A   $660,000,000   TERM LOAN CREDIT AGREEMENT   Dated as of January 31, 2012   as amended by Amendment No 1 on February 21, 2013   and as amended by Amendment No 2 on September 3.2014   Among   PRESTIGE BRANDS HOLDINGS, INC.,   as Holdings,   PRESTIGE BRANDS, INC.,   as the Borrower,   THE GUARANTORS PARTY HERETO FROM TIME TO TIME   CITIBANK, N.A.,   as Administrative Agent,   and   THE OTHER LENDERS PARTY HERETO FROM TIME TO TIME   CITIGROUP GLOBAL MARKETS INC.,   MORGAN STANLEY SENIOR FUNDING, INC. and   RBC CAPITAL MARKETS   as Joint Lead Arrangers and Joint Bookrunners,   MORGAN STANLEY SENIOR FUNDING, INC.,   as Syndication Agent   and   RBC CAPITAL MARKET&,   as Documentation Agent   and   CITIGROUP GLOBAL MARKETS INC.   DEUTSCHE BANK SEC IES INC   MORGAN STANLEY SENIOR FUNDING INC and   RBC CAPITAL MARKETS   as Joint Lead gers and Joint Bookrunners   for Amendment No. 2   ‘RBC Capital Markets is a marketing name for the investment banking activities of the Royal Bank of Canada.    

 

TABLE OF CONTENTS   PaQe   ARTICLE I.   DEFINITIONS AND ACCOUNTING TERMS   Section 1.01 Defined Terms 2   Section 1.02 Other Interpretive Provisions 57   Section 1.03 Accounting Terms 58   Section 1.04 Rounding 58   Section 1.05 References to Agreements, Laws, Etc 58   Section 1.06 Times of Day 58   Section 1.07 Timing of Payment of Performance 59   Section 1.08 Cumulative Credit Transactions 59   Section 1.09 Pro Forma Calculations 59   Section 1.10 Currency Generally 61   ARTICLE II.   THE COMMITMENTS AND CREDIT EXTENSIONS   Section2.01 TheLoans 61   Section 2.02 Borrowings, Conversions and Continuations of Loans 62   Section 2.03 [Reserved] 64   Section 2.04 [Reserved] 64   Section 2.05 Prepayments 64   Section 2.06 Tennination or Reduction of Commitments 73   Section 2.07 Repayment of Loans 73   Section 2.08 Interest 74   Section 2.09 Fees 74   Section 2.10 Computation of Interest and Fees 75   Section 2.11 Evidence of Indebtedness 75   Section 2.12 Payments Generally 76   Section 2.13 Sharing of Payments 77   Section 2.14 Incremental Credit Extensions 78   Section 2.15 Refinancing Amendments 80   Section 2.16 Extension of Term Loans 81   ARTICLE III.   TAXES, INCREASED COSTS PROTECTION AND ILLEGALITY   Section 3.01 Taxes 83   Section 3.02 Illegality 86   Section 3.03 Inability to Determine Rates 86   Section 3.04 Increased Cost and Reduced Return; Capital Adequacy; Eurocurrency Rate   Loan Reserves 87   Section 3.05 Funding Losses 88   Section 3.06 Matters Applicable to All Requests for Compensation 88   Section 3.07 Replacement of Lenders under Certain Circumstances 89   Section 3.08 Survival 91    

 

ARTICLE IV.   CONDITIONS PRECEDENT TO CREDIT EXTENSIONS   Section 4.01 Conditions to Initial Credit Extension 91   Section 4.02 Conditions to All Credit Extensions afler the Closing Date 93   ARTICLE V.   REPRESENTATIONS M~D WARRANTIES   Section 5.01 Existence, Qualification and Power; Compliance with Laws 94   Section 5.02 Authorization; No Contravention 94   Section 5.03 Governmental Authorization; Other Consents 95   Section 5.04 Binding Effect 95   Section 5.05 Financial Statements; No Material Adverse Effect 95   Section 5.06 Litigation 96   Section 5.07 Ownership of Property; Liens 96   Section 5.08 Environmental Matters 97   Section 5.09 Taxes 97   Section 5.10 ERISA Compliance 97   Section 5.11 Subsidiaries; Equity Interests 98   Section 5.12 Margin Regulations; Investment Company Act 98   Section 5.13 Disclosure 98   Section 5.14 Labor Matters 99   Section 5.15 Intellectual Property; Licenses, Etc 99   Section 5.16 Solvency 99   Section 5.17 Subordination of Junior Financing 99   Sections.18 USAPatriotAct 99   Section 5.19 Security Documents 100   ARTICLE VI.   AFFII{MATIVE COVENM’JTS   Section 6.01 Financial Statements 100   Section 6.02 Certificates; Other Information 103   Section 6.03 Notices 103   Section 6.04 Payment of Taxes 104   Section 6.05 Preservation of Existence, Etc 104   Section 6.06 Maintenance of Properties 104   Section 6.07 Maintenance of Insurance 104   Section 6.08 Compliance with Laws 105   Section 6.09 Books and Records 105   Section 6.10 Inspection Rights 105   Section 6.11 Additional Collateral; Additional Guarantors 106   Section 6.12 Compliance with Environmental Laws 107   Section 6.13 Further Assurances 108   Section 6.14 Designation of Subsidiaries 108   Section 6.15 Maintenance of Ratings 109   —11—    

 

Page   ARTICLE VII.   NEGATIVE COVENANTS   Section 7.01 Liens 109   Section 7.02 Investments 113   Section 7.03 Indebtedness 116   Section 7.04 Fundamental Changes 119   Section 7.05 Dispositions 120   Section 7.06 Restricted Payments 122   Section 7.07 Change in Nature of Business 125   Section 7.08 Transactions with Affiliates 126   Section 7.09 Burdensome Agreements 127   Section 7.10 Use of Proceeds 129   Section 7.11 Financial Covenants 129   Section 7.12 Accounting Changes 130   Section 7.13 Prepayments, Etc. of Certain Indebtedness 130   Section 7.14 Permitted Activities 130   ARTICLE VIII.   EVENTS OF DEFAULT AND REMEDIES   Section 8.01 Events of Default 131   Section 8.02 Remedies Upon Event of Default 133   Section 8.03 Application of Funds 133   Section 8.04 Borrower’s Right to Cure 134   ARTICLE IX.   ADMINISTRATIVE AGENT AND OTHER AGENTS   Section 9.01 Appointment and Authority 135   Section 9.02 Rights as a Lender 136   Section 9.03 Exculpatory Provisions 136   Section 9.04 Reliance by Administrative Agent 137   Section 9.05 Delegation of Duties 137   Section 9.06 Resignation of Administrative Agent 137   Section 9.07 Non-Reliance on Administrative Agent and Other Lenders 138   Section 9.08 No Other Duties, Etc 138   Section 9.09 Administrative Agent May File Proofs of Claim 138   Section 9.10 Collateral and Guaranty Matters 139   Section 9.11 Term Loan Secured Hedge Agreements; Intercreditor Agreements 140   Section 9.12 Withholding Tax Indemnity 140   ARTICLE X.   MISCELLANEOUS   Section 10.01 Amendments, Etc 141   Section 10.02 Notices and Other Conununications; Facsimile Copies 143   Section 10.03 No Waiver; Cumulative Remedies 145   Section 10.04 Attorney Costs and Expenses 145   Section 10.05 Indemnification by the Borrower 146   —111—    

 

• I I.   • II   • ii: •-   • II.   • II   • I • -   • I   • I   • • A - -   • I I   • I. • ‘I   • I : • -   • I : •~ • A   • ~ • • A, • • •   • i i •:   I -   I I. •   I   • Ii’ I   - I   I • --   •   I. •- -~ - •   I • • • •   I-. • •I •~ A    

 

SCHEDULES   I Guarantors   10.02 Administrative Agent’s Office, Certain Addresses for Notices   EXHIBITS   Form of   A Committed Loan Notice   B [Reserved]   C Term Note   D-1 Compliance Certificate   D-2 Solvency Certificate   E-1 Assignment and Assumption   E-2 [Reserved]   E-3 Acceptance and Prepayment Notice   E-4 Discount Range Prepayment Notice   E-5 Discount Range Prepayment Offer   E-6 Solicited Discounted Prepayment Notice   E-7 Solicited Discounted Prepayment Offer   E-8 Specified Discount Prepayment Notice   E-9 Specified Discount Prepayment Response   F Security Agreement   G Intercompany Note   H [Reserved]   I United States Tax Compliance Certificate   J Junior Lien Intercreditor Agreement   K First Lien Intercreditor Agreement   L ABL Intercreditor Agreement   M [Reserved]   N Legal Opinion of Kirkland & Ellis LLP    

 

TERM LOAN CREDIT AGREEMENT   This TERM LOAN CREDIT AGREEMENT is entered into as of January 31, 2012, among   PRESTIGE BRANDS HOLDINGS, INC., a Delaware corporation (“Holdings”), PRESTIGE BRANDS,   INC., a Delaware corporation (the “Borrower”), the other Guarantors party hereto from time to time,   CITIBANK, N.A., as Administrative Agent, and each lender from time to time party hereto (collectively,   the “Lenders” and individually, a “Lender”).   PRELIMINARY STATEMENTS   Pursuant to (i) the Business Sale and Purchase Agreement, dated as of December 20, 2011 (as   amended, supplemented or modified from time to time, the “Acquisition Agreement”), by and among   Holdings, on the one hand, and GlaxoSmithKline LLC, a company incorporated under the laws of the   state of Delaware, and the other sellers identified therein (collectively, the “Seller”), a Subsidiary Guaran   tor to whom Holdings will, at or prior to the Closing Date, assign its rights and obligations under the Ac   quisition Agreement (the “BSPA Assignment”) will acquire (the “Acquisition”) the Acquired Business   and (ii) the Business Sale and Purchase Agreement, dated as of December 20, 2011 (as amended, supple   mented or modified from time to time, the “Split Brands Acquisition Agreement”), by and among   Holdings, on the one hand, and the Seller, Holdings has agreed to acquire (the “Split Brands Acquisi   tion”) the Split Brands prior the Split Brands Cutoff Date (as defined herein).   The Borrower has requested that, substantially simultaneously with the consummation of the Ac   quisition, the Lenders extend credit to the Borrower in the form of Term B Loans (as this and other capi   talized terms used in these preliminary statements are defmed in Section 1.01 below) on the Closing Date   in an initial aggregate principal amount of $660,000,000.   The proceeds of the Term B Loans, together with the proceeds of the issuance of the Senior Notes   will be used by the Borrower to pay the consideration in connection with the Acquisition and Transaction   Expenses.   The Borrower has re uested that substantiall simu aneousl with the consummation of the   2014 Insi t Ac uisition the Lenders extend credit to the Borrower in the form of Term B-2 Loans as   this and other capitalized terms used in these preliminary statements are defined in Section 1.01 below)   on the Amendment No. 2 Effective Date in an aggregate principal amount of $720,000,000.   The roceeds of the Term B-2 Loans will be used b the Borrower to a the consideration in   connection with the Insight Acquisition and Insight Transaction Expenses.   The applicable Lenders have indicated their willingness to lend on the terms and subject to the   conditions set forth herein.   In consideration of the mutual covenants and agreements herein contained, the parties hereto cov   enant and agree as follows:    

 

ARTICLE I.   DEFINITIONS AND ACCOUNTING TERMS   Section 1.01 Defined Terms.   As used in this Agreement, the following terms shall have the meanings set forth below:   “2014 Refinancin “means the re a ent of all indebtedness under i that certain First Lien   Credit Agreement, dated as of A gust 26, 2011 (as amended, restated, supplemented, or modified from   time to time nor to the Amendment No. 2 Effective Date amon Insi t Pharmaceutica s LLC General   Electnc Ca ital Co oration as administrative a ent and collateral a ent the lenders thereto and   the other agents party thereto and (ii) that certain Second Lien Credit Agreement, dated as of August 26,   2011 as amende restated su lemented or modified from time to time nor to the Amendment No. 2   Effective Date), among Insight Pharmaceuticals LLC, General Electric Capital CorporaCo as adm is   trative a ent and collateral a ent the lenders art thereto and the other a ents art thereto sha have   been id in lull and all commitments securit interests and aranties in connection therewith sh 11   have been terminated and released.   “2014 Transaction Expenses” means any fees or expenses incurred or paid by Holdings, the   Borrower or an of their res ective Subsidiaries in connection with the 2014 Transactions includin ex   penses in connection with hedging transactions). Amendment No. 2 and the transactions contemplated   hereb and thereb   “2014 Transactions” means, collectively. (a) the Insight Acquisition. (b) the funding of the Term   B-2 Loans on the Amendment No. 2 Effective Date and the execution and delive of Amendment No. 2   to be entered into on the Amendment No. 2 Effective Date, (c) the execution and delivery by the Borrow   er and the Subsidiaries art thereto of Amendment No. 2 to the ABL Credit A ement d the 2014   Refinancing and (e) the payment of 2014 Transaction Expenses.   “ABL Agent” means Citibank, N.A., in its capacity as administrative agent under the ABL Fa   cility Documentation, or any successor administrative agent or collateral agent under the ABL Facility   Documentation.   “ABL Claimholders” has the meaning assigned to such term in the ABL Intercreditor Agree   ment.   “ABL Credit Agreement” means that certain credit agreement dated as of the Closing Date,   among Holdings, the Borrower, the Subsidiary Guarantors party thereto, the lenders party thereto and the   ABL Agent, as the same may be amended, restated, modified, supplemented, extended, renewed, refund   ed, replaced or refinanced from time to time in one or more agreements (in each case with the same or   new lenders, institutional investors or agents), including any agreement extending the maturity thereof or   otherwise restructuring all or any portion of the Indebtedness thereunder or increasing the amount loaned   or issued thereunder or altering the maturity thereof, in each case as and to the extent permitted by this   Agreement and the ABL Intercreditor Agreement.   “ABL Facility” means that credit facility made available to the Borrower and certain of its Sub   sidiaries pursuant to the ABL Credit Agreement.    

 

“ABE Facility Documentation” means the ABL Credit Agreement and all security agreements,   guarantees, pledge agreements and other agreements or instruments executed in connection therewith.   “ABE Facility Indebtedness” means (i) Indebtedness of Holdings, the Borrower or any   Restricted Subsidiary outstanding under the ABL Facility Documentation, (ii) any Swap Contract pennit   ted pursuant to Section VII hereof that is entered into by and between the Borrower or any Restricted   Subsidiary and any Person that is a lender under the ABL Credit Agreement or an Affiliate of a lender   under the ABL Credit Agreement at the time such Swap Contract is entered into and (iii) any agreement   with respect to Cash Management Obligations permitted under Article VII that is entered into by and be   tween the Borrower or any Restricted Subsidiary and any Person that is a lender under the ABL Credit   Agreement or an Affiliate of a lender under the ABL Credit Agreement at the time such agreement is en   tered into.   “ABE Intercreditor Agreement” means the intercreditor agreement dated as of the Closing   Date among the Administrative Agent, the ABL Agent and the Loan Parties, substantially in the form at   tached as Exhibit L hereto or any other intercreditor agreement among the ABL Agent, one or more Sen   ior Representatives of Permitted First Priority Refinancing Debt or Permitted Junior Priority Refinancing   Debt and the Administrative Agent on terms that are no less favorable in any material respect to the Se   cured Parties as those contained in the form attached as Exhibit L hereto.   “ABL Priority Collateral” has the meaning assigned to such term in the ABL Intercreditor   Agreement.   “Acceptable Discount” has the meaning set forth in Section 2.05(a)(v)(D)(2).   “Acceptable Prepayment Amount” has the meaning set forth in Section 2.05(a)(v)(D)(3).   “Acceptance and Prepayment Notice” means a notice of the Borrower’s acceptance of the Ac   ceptable Discount in substantially the form of Exhibit E-3.   “Acceptance Date” has the meaning set forth in Section 2.05(a)(v)(D)(2).   “Acquired Business” means the Business (as defmed in the Acquisition Agreement (as in effect   on December 20, 2011)).   “Acquired Business Annual Financial Statements” means the audited statements of net assets   to be sold of the Acquired Business as of December 31, 2010, 2009 and 2008 and related statements of   revenues and direct operating expenses of the Acquired Business for the fiscal years then ended.   “Acquired Business Unaudited Financial Statements” means the unaudited statements of net   assets to be sold and related statements of revenues and direct operating expenses of the Acquired Busi   ness for the nine month period ended September 30, 2011 and the prior comparative period.   “Acquisition” has the meaning specified in the preliminary statements to this Agreement.   “Acquisition Agreement” has the meaning specified in the preliminary statements to this   Agreement.   “Additional Lender” has the meaning set forth in Section 2.14(c).   -3-    

 

“Additional Refinancing Lender” means, at any time, any bank, financial institution or other in   stitutional lender or investor (other than any such bank, financial institution or other institutional lender or   investor that is a Lender at such time) that agrees to provide any portion of Refinancing Term Loans pur   suant to a Refinancing Amendment in accordance with Section 2.15, provided that each Additional Refi   nancing Lender shall be subject to the approval of (i) the Administrative Agent, such approval not to be   unreasonably withheld or delayed, to the extent that each such Additional Refinancing Lender is not then   an existing Lender, an Affiliate of a then existing Lender or an Approved Fund and (ii) the Borrower.   “Additional Term B-i Commitment” means, with respect to any Person, the commitment of   such Person to make an Additional Term B-l Loan on the Amendment No. 1 Effective Date, in the   amount set forth on the joinder agreement of such Additional Term B- 1 Lender to Amendment No. 1.   The aggregate amount of the Additional Term B-I Commitments of all such Persons shall equal the out   standing aggregate principal amount of Non-Exchanged Term B Loans.   “Additional Term B-i Lender” means a Person with an Additional Term B-l Commitment to   make Additional Term B-l Loans to the Borrower on the Amendment No. I Effective Date, which for the   avoidance of doubt may be an existing Term Lender.   “Additional Term B-i Loan” means a Loan that is made pursuant to Section 2.01(b)(ii) of the   Credit Agreement on the Amendment No. 1 Effective Date.   “Administrative Agent” means Citi, in its capacity as administrative agent under any of the   Loan Documents, or any successor administrative agent.   “Administrative Agent’s Office” means the Administrative Agent’s address and account as set   forth on Schedule 10.02, or such other address or account as the Administrative Agent may from time to   time notify the Borrower and the Lenders.   “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by   the Administrative Agent.   “Affiliate” means, with respect to any Person, another Person that directly, or indirectly through   one or more intermediaries, Controls or is Controlled by or is under common Control with the Person   specified. “Control” means the possession, directly or indirectly, of the power to direct or cause the di   rection of the management or policies of a Person, whether through the ability to exercise voting power,   by contract or otherwise. “Controffing” and “Controlled” have meanings correlative thereto.   “Agent Parties” has the meaning set forth in Section 10.02(b).   “Agent-Related Persons” means the Agents, together with their respective Affiliates, officers,   directors, employees, partners, agents, advisors and other representatives.   “Agents” means, collectively, the Administrative Agent, the Syndication Agent, the Documenta   tion Agent, the Arrangers and the Boolcrunners.   “Aggregate Commitments” means the Commitments of all the Lenders.   “Agreement” means this Credit Agreement, as amended b Amendment No 1 and Amendment   No. 2 and as the same may be amended, supplemented or otherwise modified from time to time.   -4-    

 

“MI-In Yield” means, as to any Indebtedness, the yield thereof, whether in the form of interest   rate, margin, OlD, upfront fees, a Eurocurrency Rate or Base Rate floor greater than 1 .2~00° o or   2.2M~0°o, respectively, or otherwise; provided that OlD and upfront fees shall be equated to interest rate   assuming a 4-year life to maturity (or, if less, the stated life to maturity at the time of its incurrence of the   applicable Indebtedness); provided,further, that “All-In Yield” shall not include arrangement fees, struc   turing fees, commitment fees, underwriting fees or other fees not paid to all Lenders of such Indebted   ness.   “Amendment No. 1” means Amendment No. 1 to this Agreement dated as of February 21,2013.   “Amendment No. 1 Effective Date” means February 21, 2013, the date on which all conditions   precedent set forth in Section 4 of Amendment No. 1 are satisfied.   “Amendment No. 2” means Amendment No.2 to this Agreement dated as of September 3.2014.   “Amendment No. 2 Arrang rs” means Citigroup Global Markets Inc., Deutsche Bank Securities   Inc. Mor an Stanle Senior Fund n Inc. and RBC Ca ital Markets.   “Amendment No 2 Effective Date’ means September 3.2014. the date on which all conditions   recedent set forth in Section 3 of Amendment No. 2 are satisfied.   “Amendment No. 2 Joinder” means the Joinder A eement dated Se tember 3 2014 e tered   into on the Amendment No. 2 Effective Date.   “Applicable Discount” has the meaning set forth in Section 2.05(a)(v)(C)(2).   “Applicable ECF Percentage” means, for any Excess Cash Flow Period, (a) 50% if the Consoli   dated First Lien Net Leverage Ratio as of the last day of such Excess Cash Flow Period is greater than   3.00:1.00, (b) 25°o if the Consolidated First Lien Net Leverage Ratio as of the last day of such Excess   Cash Flow Period is less than or equal to 3.00:1.00 and greater than 2.50:1.00 and (c) 000 if the Consoli   dated First Lien Net Leverage Ratio as of the last day of such Excess Cash Flow Period is less than or   equal to 2.50:1.00.   “Applicable Rate” means a percentage per annum equal to (A) for Eurocurrency Rate Loans   2 75% and (B) for Base Rate Loans, 1.75%   i with res ect to Term B-l Loans x nor to the Amendment No. 2 Effective   Date 5° 0 annum for Eurocurrenc Rate Loans and 1 750o r annum for Base Rate Loans   and (y) after the Amendment No. 2 Effective Date. 3.125° 0 per annum for Eurocu ency ate   Loans and 2.l25°o er annum for Base Rate Loanw and   (iD with respect to Term B-2 Loans, until delivery of financial stateme ts for he first   full fiscal uarter endin after the Amendment No. 2 Effective Date ursuant to Sec i n 6.01 a   ercenta e r annum e ual to 3.5000 er annum for Eurocurrenc Rate Loans and 2 50° 0 er an   num for Base Rate Loans and thereafter, the following percentages per annum, based upo the   Secured Net Levera e Ratio as set forth in the most recent Com liance Certificate received b he   Administrative A ent ursuant to Section 6.02 a    

 

Pricina Secured Net Eurocurrency Base Rate   Level Levera e Ratio Rate Loans Loans   1 >3.00.1.00 3.50% 2.50%   2 300~l 00 3.25% 2.25°o   Any increase or decrease in the Applicable Rate resulting from a change in the Secured Net Lev   era e Ratio shall become effective as of the first Business Da immediatel followin the date a Corn li   ance Certificate is delivered pursuant to Section 6.02(a); provided that at the option of the Administrative   Agent or the Required Class Lenders, the highest pricing level (i.e.. Pricing Level I) shall apply (x) as of   the first Business Da after the date on which a Com liance Certificate was re uired to have been deliv   ered but was not delivered, and shall continue to so apply to and including the date on which such Corn   liance Certificate is so delivered and thereafter the ricin level otherwise determined in accordance   with this definition shall a I and as of the first Business Da after an Event of Default under Sec   tion 8.01 a shall have occurred and be continuin and shall continue to so a I to but excludin the   date on which such Event of Default is cured or waived (and thereafter the pricing level otherwise deter   mined in accordance with this defini ion shall a I   “Appropriate Lender” means, at any time, with respect to Loans of any Class, the Lenders of   such Class.   “Approved Bank” has the meaning set forth in clause (c) of the definition of “Cash Equivalents.”   “Approved Fund” means, with respect to any Lender, any Fund that is administered, advised or   managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that ad   ministers, advises or manages a Lender.   “Arrangers” means Citigroup Global Markets Inc., Morgan Stanley Senior Funding, Inc. and   RBC Capital Markets, each in its capacity as a joint lead arranger under this Agreement.   “Assignees” has the meaning set forth in Section 10.07(b).   “Assignment and Assumption” means an Assignment and Assumption substantially in the form   of Exhibit E- 1 hereto.   “Assignment Taxes” has the meaning set forth in Section 3.01(b).   “Attorney Costs” means and includes all reasonable and documented fees, expenses and dis   bursements of any law firm or other external legal counsel.   “Attributable Indebtedness” means, on any date, in respect of any Capitalized Lease of any Per   son, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of   such date in accordance with GA.AP.   “Auction Agent” means (a) the Administrative Agent or (b) any other fmancial institution or ad   visor employed by the Borrower (whether or not an Affiliate of the Administrative Agent) to act as an   -6-    

 

arranger in connection with any Discounted Term Loan Prepayment pursuant to Section 2.05(a)(v); pro   vided that the Borrower shall not designate the Administrative Agent as the Auction Agent without the   written consent of the Administrative Agent (it being understood that the Administrative Agent shall be   under no obligation to agree to act as the Auction Agent); provided,further, that neither the Borrower nor   any of its Affiliates may act as the Auction Agent.   “Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a) the Feder   al Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as publicly announced from   time to time by Citi as its “prime rate” and (c) the Eurocurrency Rate plus 1.00% (or, if such day is not a   Business Day, the immediately preceding Business Day); provided that in no event shall the Base Rate   with respect to Term Loans be less than 2.00% per annum. The “prime rate” is a rate set by Citi based   upon various factors including Citi’s costs and desired return, general economic conditions and other fac   tors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such   announced rate. Any change in such rate announced by Citi shall take effect at the opening of business on   the day specified in the public announcement of such change.   “Base Rate Loan” means a Loan that bears interest based on the Base Rate.   “Bookrunner” means each of Citigroup Global Markets Inc., Morgan Stanley Senior Funding,   Inc. and RBC Capital Markets, each in its capacity as a joint bookrunner.   “Borrower” has the meaning specified in the introductory paragraph to this Agreement.   “Borrower Materials” has the meaning specified in Section 6.01.   “Borrower Offer of Specified Discount Prepayment” means the offer by any Company Party   to make a voluntary prepayment of Term Loans at a Specified Discount to par pursuant to Sec   tion 2.05(a)(v)(B).   “Borrower Solicitation of Discount Range Prepayment Offers” means the solicitation by any   Company Party of offers for, and the corresponding acceptance by a Lender of; a voluntary prepayment of   Term Loans at a specified range of discounts to par pursuant to Section 2.05(a)(v)(C).   “Borrower Solicitation of Discounted Prepayment Offers” means the solicitation by any   Company Party of offers for, and the subsequent acceptance, if any, by a Lender of, a voluntary prepay   ment of Term Loans at a discount to par pursuant to Section 2.05(a)(v)(D).   “Borrowing” means a borrowing consisting of Term Loans of the same Type and currency and,   in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Term Lend   ers pursuant to Section 2.01.   “Borrowing Base” means an amount equal to (i) 85% of the face amount of the accounts receiv   able p~j~ (ii) the lesser of(x) 75% of the lower of cost or market value or (y) 85% of the net orderly liqui   dation value, in each case, of the inventory, in each case, of the Borrower and its Restricted Subsidiaries.   “BSPA Assignment” has the meaning specified in the preliminary statements to this Agreement.   “Business Day” means any day other than a Saturday, Sunday or other day on which commercial   banks are authorized to close under the Laws of; or are in fact closed in, the State of New York and, if   such day relates to any Eurocurrency Rate Loan, means any such day that is also a London Banldng Day.   -7-    

 

“Canadian Dollar” means lawful money of Canada.   “Capital Expenditures” means, for any period, the aggregate of all expenditures (whether paid   in cash or accrued as liabilities and including in all events all amounts expended or capitalized under Cap   italized Leases) by the Borrower and its Restricted Subsidiaries during such period that, in conformity   with GAAP, are or are required to be included as capital expenditures on the consolidated statement of   cash flows of the Borrower and its Restricted Subsidiaries.   “Capitalized Lease Obligation” means, at the time any determination thereof is to be made, the   amount of the liability in respect of a Capitalized Lease that would at such time be required to be capital   ized and reflected as a liability on a balance sheet (excluding the footnotes thereto) prepared in accord   ance with GAAP.   “Capitalized Leases” means all leases that have been or are required to be, in accordance with   GAAP, recorded as capitalized leases; provided that for all purposes hereunder the amount of obligations   under any Capitalized Lease shall be the amount thereof accounted for as a liability in accordance with   GAAP.   “Capitalized Software Expenditures” means, for any period, the aggregate of all expenditures   (whether paid in cash or accrued as liabilities) by the Borrower and the Restricted Subsidiaries during   such period in respect of purchased software or internally developed software and software enhancements   that, in conformity with GAAP, are or are required to be reflected as capitalized costs on the consolidated   balance sheet of the Borrower and the Restricted Subsidiaries.   “Cash Collateral Account” means a blocked account at Citi (or another commercial bank select   ed by the Administrative Agent) in the name of the Administrative Agent and under the sole dominion   and control of the Administrative Agent, and otherwise established in a manner satisfactory to the Admin   istrative Agent.   “Cash Equivalents” means any of the following types of Investments, to the extent owned by the   Borrower or any Restricted Subsidiary:   (a) Dollars, pounds sterling, euros or Canadian Dollars;   (b) readily marketable obligations issued or directly and fully guaranteed or insured   by the government or any agency or instrumentality of the United States or the United Kingdom   having average maturities of not more than 24 months from the date of acquisition thereof~ pro   vided that the full faith and credit of the United States or the United Kingdom, as applicable, is   pledged in support thereof~   (c) time deposits or eurodollar time deposits with, insured certificates of deposit,   banlcers’ acceptances or overnight bank deposits of, or letters of credit issued by, any commercial   bank that (i) is a Lender or (ii) (A) is organized under the Laws of the United States, any state   thereof the District of Columbia or any member nation of the Organization for Economic Coop   eration and Development or is the principal banking Subsidiary of a bank holding company orga   nized under the Laws of the United States, any state thereof, the District of Columbia or any   member nation of the Organization for Economic Cooperation and Development and is a member   of the Federal Reserve System, and (B) has combined capital and surplus of at least $250,000,000   (any such bank in the foregoing clauses (i) or (ii) being an “Approved Bank”), in each case with   maturities not exceeding 24 months from the date of acquisition thereof~   -8-    

 

(d) commercial paper and variable or fixed rate notes issued by an Approved Bank   (or by the parent company thereof) or any variable or fixed rate note issued by, or guaranteed by,   a corporation (other than structured investment vehicles and other than corporations used in struc   tured financing transactions) rated A-2 (or the equivalent thereof) or better by S&P or P-2 (or the   equivalent thereof) or better by Moody’s, in each case with average maturities of not more than   24 months from the date of acquisition thereof;   (e) marketable short-teim money market and similar funds having a rating of at least   P-2 or A-2 from either Moody’s or S&P, respectively (or, if at any time neither Moody’s nor S&P   shall be rating such obligations, an equivalent rating from another nationally recognized statistical   rating agency selected by the Borrower);   (I) repurchase obligations for underlying securities of the types described in clauses   (b), (c) and (e) above entered into with any Approved Bank;   (g) securities with average maturities of 24 months or less from the date of acquisi   tion issued or fully guaranteed by any state, commonwealth or territory of the United States, by   any political subdivision or taxing authority of any such state, commonwealth or territory or by   any foreign government having an investment grade rating from either S&P or Moody’s (or the   equivalent thereof);   (h) Investments (other than in structured investment vehicles and structured financ   ing transactions) with average maturities of 12 months or less from the date of acquisition in   money market fhnds rated AAA- (or the equivalent thereof) or better by S&P or Aaa3 (or the   equivalent thereof) or better by Moody’s;   (i) securities with maturities of 12 months or less from the date of acquisition   backed by standby letters of credit issued by any Approved Bank;   (j) instruments equivalent to those referred to in clauses (a) through (i) above de   nominated in euros or any other foreign currency comparable in credit quality and tenor to those   referred to above and customarily used by corporations for cash management purposes in any ju   risdiction outside the United States to the extent reasonably required in connection with any busi   ness conducted by any Restricted Subsidiary organized in such jurisdiction;   (k) Investments, classified in accordance with GAAP as Current Assets of the Bor   rower or any Restricted Subsidiary, in money market investment programs which are registered   under the Investment Company Act of 1940 or which are administered by financial institutions   having capital of at least $250,000,000, and, in either case, the portfolios of which are limited   such that substantially all of such Investments are of the character, quality and maturity described   in clauses (a) through (i) of this definition; and   (1) investment funds investing at least 95% of their assets in securities of the types   described in clauses (a) through (k) above.   “Cash Management Obligations” means obligations owed by the Borrower or any Restricted   Subsidiary in respect of any overdraft and related liabilities arising from treasury, depository and cash   management services or any automated clearing house transfers of funds.   -9-    

 

“Casualty Event” means any event that gives rise to the receipt by the Boffower or any Restrict   ed Subsidiary of any insurance proceeds or condemnation awards in respect of any equipment, fixed as   sets or real property (including any improvements thereon) to replace or repair such equipment, fixed as   sets or real property.   “CFC” means a “controlled foreign corporation” within the meaning of Section 957 of the Code.   “Citi” means Citibank, N.A., a national banking association, acting in its individual capacity, and   its successors and assigns.   “Change of Control” shall be deemed to occur if:   (a) (i) any person or “group” (within the meaning of Rules I 3d-3 and 1 3d-S under   the Exchange Act as in effect on the Closing Date, but excluding any employee benefit plan of   such person and its Subsidiaries, and any person or entity acting in its capacity as trustee, agent or   other fiduciary or administrator of any such plan), shall have, directly or indirectly, acquired ben   eficial ownership of Equity Interests representing 35% or more of the aggregate voting power   represented by the issued and outstanding Equity Interests of Holdings or (ii) during each period   of twelve consecutive months, individuals who, at the beginning of such period, constituted the   board of directors (or similar governing body) of Holdings (together with any directors whose   election by the board of directors of Holdings or whose nomination for election by the members   of Holdings was approved by a vote of at least a majority of the directors (or members of a simi   lar governing body) then still in office who either were directors at the beginning of such period   or whose elections or nomination for election was previously so approved) cease for any reason   other than death or disability to constitute a majority of the directors (or members of a similar   governing body) then in office;   (b) a “change of control” (or similar event) shall occur in any document pertaining to   the ABL Facility, the Senior Notes or the Existing Notes or, in each case, any Permitted Refi   nancing thereof with an aggregate outstanding principal amount in excess of the Threshold   Amount; or   (c) Holdings shall cease to own 10000 of the Equity Interests of the Borrower.   “Class” (a) when used with respect to any Lender, refers to whether such Lender has a Loan or   Commitment with respect to a particular Class of Loans or Commitments, (b) when used with respect to   Commitments, refers to whether such Commitments are Term B-i Commitments, Term B-2 Commit   ments, Term Commitments, Other Term Loan Commitments or Refinancing Term Commitments of a   given Refinancing Series and (c) when used with respect to Loans or a Borrowing, refers to whether such   I Loans, or the Loans comprising such Borrowing are Term B-I Loans, Term B-2 Loans. Incremental Term   Loans, Other Term Loans, Refinancing Term Loans of a given Refinancing Series or Extended Term   Loans of a given Term Loan Extension Series. Term B-i Commitments Term B-2 Commitments, Other   Term Loan Commitments and Term Commitments (and in each case, the Loans made pursuant to such   Commitments) that have different terms and conditions shall be construed to be in different Classes.   Commitments (and, in each case, the Loans made pursuant to such Commitments) that have the same   terms and conditions shall be construed to be in the same Class.   “Closing Date” means January 31, 2012.    

 

“Code” means the U.S. Internal Revenue Code of 1986, and the United States Treasury Depart   ment regulations promulgated thereunder, as amended from time to time.   “Collateral” means the “Collateral” as defined in the Security Agreement and all the “Collateral”   or “Pledged Assets” or similar term as defined in any other Collateral Document and any other assets   pledged pursuant to any Collateral Document.   “Collateral and Guarantee Requirement” means, at any time, the requirement that:   (a) the Administrative Agent shall have received each Collateral Document required   to be delivered (i) on the Closing Date, pursuant to Section 4.01 (a)(iv) and (ii) at such time as   may be designated therein, pursuant to the Collateral Documents, Section 6.11 or 6.13, subject, in   each case, to the limitations and exceptions of this Agreement, duly executed by each Loan Party   thereto;   (b) all Obligations shall have been unconditionally guaranteed by Holdings and each   Restricted Subsidiary of the Borrower that is a wholly owned Material Domestic Subsidiary (oth   er than any Excluded Subsidiary) including those that are listed on Schedule I hereto (each, a   “Guarantor”); provided that, in addition, notwithstanding anything to the contrary contained in   this Agreement, any Subsidiary of the Borrower that is an obligor under the Senior Notes, the Ex   isting Notes, any ABL Facility Indebtedness, any Junior Financing, Permitted Unsecured Refi   nancing Debt, Permitted First Priority Refinancing Debt, Permitted Junior Priority Refinancing   Debt or any Permitted Refinancing of any thereot shall be a Guarantor hereunder for so long as it   is an obligor under such Indebtedness;   (c) the Obligations and the Guaranty shall have been secured by a first-priority secu   rity interest (subject to Liens permitted by Section 7.01) in (i) all the Equity Interests of the Bor   rower and (ii) all Equity Interests of each Restricted Subsidiary that is a wholly owned Domestic   Subsidiary (other than a Domestic Subsidiary described in the following clause (iii)(A) or that has   no material assets other than Equity Interests (including any Indebtedness treated as equity for   U.S. federal income tax purposes) of one or more Foreign Subsidiaries (other than Material For   eign Subsidiaries) that are CFCs) that is directly owned by the Borrower or any Subsidiary Guar   antor and (iii) 65% of the issued and outstanding Equity Interests of(A) each Restricted Subsidi   ary that is a wholly owned Domestic Subsidiary that is directly owned by the Borrower or by any   Subsidiary Guarantor and that has no material assets other than Equity Interests (including any   Indebtedness treated as equity for U.S. federal income tax purposes) of one or more Material For   eign Subsidiaries that are CFCs and (B) each Restricted Subsidiary that is a wholly owned Mate   rial Foreign Subsidiary that is directly owned by the Borrower or by any Subsidiary Guarantor;   (d) except to the extent otherwise provided hereunder, including subject to Liens   permitted by Section 7.01, or under any Collateral Document, the Obligations and the Guaranty   shall have been secured by a perfected security interest (to the extent such security interest may   be perfected by delivering certificated securities or instruments, filing financing statements under   the Uniform Commercial Code or making any necessary filings with the United States Patent and   Trademark Office or United States Copyright Office, or the entry into any control agreement re   quired under the Security Agreement, or to the extent required in the Security Agreement (or any   other Collateral Document) or by Mortgages referred to in clause (e) below) in substantially all   tangible and intangible assets of the Borrower and each Guarantor (including, but not limited to,   accounts (other than any Securitization Assets), inventory, equipment, investment property, con   tract rights, applications and registrations of IF Rights filed in the United States, other general in   —11—    

 

tangibles, Material Real Property and proceeds of the foregoing), in each case, with the priority   required by the Collateral Documents, in each case subject to exceptions and limitations other   wise set forth in this Agreement and the Collateral Documents; and   (e) the Administrative Agent shall have received (i) counterparts of a Mortgage with   respect to each Material Real Property required to be delivered pursuant to Section 6.11 and Sec   tion 6.13 (the “Mortgaged Properties”) duly executed and delivered by the applicable Loan Par   ty, (ii) a title insurance policy for each Mortgaged Property available in each applicable jurisdic   tion (the “Mortgage Policies”) insuring the Lien of each such Mortgage as a valid first priority   Lien on the property described therein, free of any other Liens except as expressly permitted by   Section 7.01, together with such endorsements, coinsurance and reinsurance and in such amounts   as the Administrative Agent may reasonably request, (iii) a completed Life-of-Loan Federal   Emergency Management Agency Standard Flood Hazard Determination with respect to each   Mortgaged Property (together with a notice about special flood hazard area status and flood disas   ter assistance duly executed by the Borrower and each Loan Party relating thereto) and if any im   provements on any Mortgaged Property are located within an area designated a “flood hazard ar   ea,” evidence of such flood insurance as maybe required under Section 6.07, (iv) ALTA surveys   in form and substance reasonably acceptable to the Administrative Agent or such existing surveys   together with no-change affidavits sufficient for the title company to remove all standard survey   exceptions from the Mortgage Policies and issue the endorsements required in (ii) above, (v) cop   ies of any existing abstracts and appraisals and (vi) such legal opinions and other documents as   the Administrative Agent may reasonably request with respect to any such Mortgaged Property;   provided, however, that the foregoing definition shall not require and the Loan Documents shall not con   tain any requirements as to the creation or perfection of pledges of; security interests in, Mortgages on, or   the obtaining of title insurance, surveys, abstracts or appraisals or taking other actions with respect to any   Excluded Assets.   The Administrative Agent may grant extensions of time for the perfection of security interests in,   or the delivery of the Mortgages and the obtaining of title insurance and surveys with respect to, particular   assets and the delivery of assets (including extensions beyond the Closing Date for the perfection of secu   rity interests in the assets of the Loan Parties on such date) where it reasonably determines, in consulta   tion with the Borrower, that perfection cannot be accomplished without undue effort or expense by the   time or times at which it would otherwise be required by this Agreement or the Collateral Documents.   No actions in any non-U.S. jurisdiction or required by the Laws of any non-U.S. jurisdiction shall   be required in order to create any security interests in assets located, titled, registered or filed outside of   the U.S. or to perfect such security interests (it being understood that there shall be no security agree   ments or pledge agreements governed under the Laws of any non-U.S. jurisdiction).   “Collateral Documents” means, collectively, the Security Agreement, the Intellectual Property   Security Agreements, the Mortgages, Security Agreement Supplements, security agreements, pledge   agreements or other similar agreements delivered to the Administrative Agent pursuant to Sec   tion 4.01 (a)(iv), Section 6.11 or Section 6.13, the lntercreditor Agreements and each of the other agree   ments, instruments or documents that creates or purports to create a Lien in favor of the Administrative   Agent for the benefit of the Secured Parties.   “Commitment” means an Incremental Term Commitment, Term B-i Commitment, Term   Commitment Term Commitment, Other Term Loan Conunitment, Refinancing Term Commitment of a    

 

given Refinancing Series or Extended Term Loan of a given Term Loan Extension Series, as the context   may require.   “Committed Loan Notice” means a notice of (a) a Borrowing, (b) a conversion of Loans from   one Type to the other, or (c) a continuation of Eurocurrency Rate Loans, pursuant to Section 2.02(a),   which, if in writing, shall be substantially in the form of Exhibit A hereto.   “Commodity Exchan2e Act” means the Commodity Exchange Act (7 U.S.C Section 1 e seq).   as amended from time to time and an successor statute.   “Company Annual Financial Statements” means the audited consolidated balance sheets of   Holdings as of March 31, 2011,2010 and 2009, and the related consolidated statements of income,   changes in equity and cash flows for Holdings for the fiscal years then ended.   “Company Parties” means the collective reference to Holdings and its Subsidiaries, including   the Borrower, and “Company Party” means any one of them.   “Company Quarterly Financial Statements” means the unaudited consolidated balance sheets   and related consolidated statements of income, changes in equity and cash flows of Holdings for the most   recent fiscal quarters (other than the fourth fiscal quarter of Holdings’ fiscal year) after the date of the   balance sheet contained in the Company Annual Financial Statements and ended at least forty-five (45)   days prior to the Closing Date.   “Compensation Period” has the meaning set forth in Section 2.12(c)(ii).   “Compliance Certificate” means a certificate substantially in the form of Exhibit D-1 hereto.   “Confidential Disclosure Letter” means the letter from the Borrower to the Lenders delivered   on or prior to the date hereof   “Consolidated Cash Interest Coverage Ratio” means, with respect to any Test Period, the ratio   of (a) Consolidated EBITDA for such Test Period to (b) Consolidated Interest Expense for such Test Pe   riod.   “Consolidated EBITDA” means, for any period, the Consolidated Net Income for such period,   plus:   (a) without duplication and, except with respect to clauses (viii) and (x) below, to the   extent deducted (and not added back or excluded) in arriving at such Consolidated Net Income,   the sum of the following amounts for such period with respect to the Borrower and its Restricted   Subsidiaries:   (i) total interest expense determined in accordance with GAAP and, to the   extent not reflected in such total interest expense, any losses on hedging obligations or   other derivative instruments entered into for the purpose of hedging interest rate risk, net   of interest income and gains on such hedging obligations, and costs of surety bonds in   connection with financing activities (whether amortized or immediately expensed),   (ii) provision for taxes based on income, profits or capital gains of the Bor   rower and the Restricted Subsidiaries, including, without limitation, federal, state, fran-   -13-    

 

chise and similar taxes and foreign withholding taxes paid or accrued during such period   including penalties and interest related to such taxes or arising from any tax examina   tions,   (iii) depreciation and amortization (including amortization of intangible as   sets, including Capitalized Software Expenditures),   (iv) (A) duplicative running costs, relocation costs or expenses, integration   costs, transition costs, pre-opening, opening and consolidation costs for facilities, signing,   retention and completion bonuses, costs incurred in connection with any strategic initia   tives, costs incurred in connection with acquisitions and non-recurring product and intel   lectual property development, other business optimization expenses (including costs and   expenses relating to business optimization programs and new systems design, retention   charges, systems establishment costs and implementation costs), project start-up costs,   severance and other restructuring charges representing cash items (including restructuring   costs related to acquisitions and to closure of facilities, and excess pension charges   vided that the aggregate amount of all items added back pursuant to this clause (iv)~) for   an)’ Teat Penod shall not exceed 15?~ of Consohdated EBITDA for such Test Penod,L   (B) earn-out and contingent consideration obligations (including to the extent   accounted for as bonuses or otherwise) and adjustments thereof and purchase price ad   justments, in each case in connection with acquisitions and   (C) Transaction Expenses,   (v)the amount of any expense or reduction of Consolidated Net Income consist   ing of Restricted Subsidiary income attributable to minority interests or non-controlling   interests of third parties in any non-wholly owned Restricted Subsidiary,   (vi) [Reserved],   (vii) any Equity Funded Employee Plan Costs,   (viii) (I) cost savings, operating expense reductions and synergies related to the   Transactions that are reasonably identifiable and factually supportable and projected by   the Borrower in good faith to result from actions that have been taken or with respect to   which substantial steps have been taken or are ex led to be taken (in the good faith de   termination of the Borrower) within 18 months after the Closing Date (calculated on a   proforma basis as though such cost savings, operating expense reductions and synergies   had been realized on the first day of such period and as if such cost savings, operating   expense reductions and synergies were realized during the entirety of such period) and   (ii) cost savings, operating expense reductions and synergies related to mergers and other   business combinations, acquisitions, divestitures, restructurings, cost savings initiatives   and other similar initiatives and actions that are reasonably identifiable and factually sup   portable and projected by the Borrower in good faith to result from actions that have been   taken or with respect to which substantial steps have been taken or are ex ted to be   taken (in the good faith determination of the Borrower) (A) within 18 months after a   merger or other business combination, acquisition or divestiture is consummated or (B)   within 12 months in the case of any other restructuring, cost savings initiative or other in   itiative or action (calculated on a proforma basis as though such cost savings, operating   -14-    

 

expense reductions and synergies had been realized on the first day of such period and as   if such cost savings, operating expense reductions and synergies were realized during the   entirety of such period), net of the amount of actual benefits realized during such period   from such actions; provided that no cost savings, operating expense reductions and syn   ergies shall be added pursuant to this clause (viii) to the extent duplicative of any expens   es or charges otherwise added to Consolidated EBITDA, whether through a pro forma   adjustment or otherwise, for such period,   (ix) any net loss from discontinued operations,   (x) cash receipts (or any netting arrangements resulting in reduced cash ex   penditures) not representing Consolidated EBITDA or Consolidated Net Income in any   period to the extent non-cash gains relating to such income were deducted in the calcula   tion of Consolidated EBITDA pursuant to paragraph (b) below for any previous period   and not added back,   (xi) non-cash expenses, charges and losses (including reserves, impairment   charges or asset write-offs, losses from investments recorded using the equity method,   stock-based awards compensation expense), in each case other than (A) any non-cash   charge representing amortization of a prepaid cash item that was paid and not expensed in   a prior period and (B) any non-cash charge relating to write-offs, write-downs or reserves   with respect to accounts receivable in the normal course or inventory; provided that if any   non-cash charges referred to in this clause (xi) represents an accrual or reserve for poten   tial cash items in any future period, (1) the Borrower may elect not to add back such non-   cash charge in the current period and (2) to the extent the Borrower elects to add back   such non-cash charge, the cash payment in respect thereof in such future period shall be   subtracted from Consolidated EBITDA in such future period to such extent paid,   (xii) the amount of loss on sale of receivables, Securitization Assets and relat   ed assets to any Securitization Subsidiary in connection with a Qualified Securitization   Financing, ic~   (b) without duplication and to the extent included in arriving at such Consolidated   Net Income, (i) non-cash gains (excluding any non-cash gain to the extent it represents the rever   sal of an accrual or reserve for a potential cash item that reduced Consolidated EBITDA in any   prior period), (ii) any net gain from discontinued operations and (iii) the amount of any minority   interest income consisting of Restricted Subsidiary losses attributable to minority interests or non-   controlling interests of third parties in any non-wholly owned Restricted Subsidiary; provided   that, for the avoidance of doubt, any gain representing the reversal of any non-cash charge re   ferred to in clause (a)(xi)(B) above for a prior period shall be added (together with, without dupli   cation, any amounts received in respect thereof to the extent not increasing Consolidated Net In   come) to Consolidated EBITDA in any subsequent period to such extent so reversed (or re   ceived);   provided that:   (A) to the extent included in Consolidated Net Income, there shall be excluded in de   termining Consolidated EBITDA (x) currency translation gains and losses related to currency re   measurements of Indebtedness (including the net loss or gain (i) resulting from Swap Contracts   -15-    

 

for currency exchange risk and (ii) resulting from intercompany indebtedness) and (y) all other   foreign currency translation gains or losses to the extent such gains or losses are non-cash items,   (B) to the extent included in Consolidated Net Income, there shall be excluded in de   termining Consolidated EBITDA for any period any adjustments resulting from the application of   FASB Accounting Standards Codification 815 and International Accounting Standard No. 39 and   their respective related pronouncements and interpretations,   (C) to the extent included in Consolidated Net Income, there shall be excluded in de   termining Consolidated EBITDA for any period any income (loss) for such period attributable to   the early extinguishment of (i) Indebtedness, (ii) obligations under any Swap Contracts or (iii)   other derivative instruments.   Notwithstanding anything to the contrary contained herein, for purposes of determining Consoli   dated EBITDA under this Agreement for any period that includes any of the fiscal quarters ended March   31, 2011, June 30, 2011 and September 30, 2011, Consolidated EBITDA for such fiscal quarters shall be   $50,883,000, $57,045,000 and $59,031,000, respectively, in each case, as may be subject to addbacks and   adjustments (without duplication) pursuant to clauses (iv)(A) and (viii) above and Section 1 .09(c) for the   applicable Test Period. For the avoidance of doubt, Consolidated EBITDA shall be calculated, including   pro forma adjustments, in accordance with Section 1.09.   “Consolidated First Lien Net Debt” means, as of any date of determination, any Indebtedness   described in clause (a) of the definition of “Consolidated Total Net Debt” outstanding on such date that is   secured by a Lien on any asset or property of the Borrower or any Restricted Subsidiary but excluding   any such Indebtedness (other than obligations under the ABL Facility) in which the applicable Liens are   I expressly subordinated or junior to the Liens securing the Obligations minus the lesser of (x) the aggre   gate amount of cash and Cash Equivalents (other than Restricted Cash), in each case, included on the con   solidated balance sheet of the Borrower and the Restricted Subsidiaries as of such date, free and clear of   all Liens (other than nonconsensual Liens permitted by Section 7.01 and Liens permitted by Sec   tion 7.01(a), Section 7.01(p), Section 7.01(q), clauses (i) and (ii) of Section 7.01(r), Section 7.01(cc) (only   to the extent the Obligations are secured by such cash and Cash Equivalents) and Section 7.01 (dd) (only   to the extent the Obligations are secured by such cash and Cash Equivalents)) and (y) $75,0O0,000;))~   provided that Consolidated First Lien Net Debt shall not include Indebtedness in respect of (i) letters of   credit, except to the extent of unreimbursed amounts thereunder; provided that any unreimbursed amount   under commercial letters of credit shall not be counted as Consolidated First Lien Net Debt until 3 Busi   ness Days after such amount is drawn, (ii) Unrestricted Subsidiaries and (iii) any Qualified Securitization   Financing; it being understood, for the avoidance of doubt, that obligations under Swap Contracts do not   constitute Consolidated First Lien Net Debt.   “Consolidated First Lien Net Leverage Ratio” means, with respect to any Test Period or any   other period of four consecutive fiscal quarters specified in this Agreement, the ratio of (a) Consolidated   First Lien Net Debt as of the last day of such Test Period or four consecutive fiscal quarter period to (b)   Consolidated EBITDA for such Test Period or four consecutive fiscal quarter period.   “Consolidated Interest Expense” means, for any period, the sum, without duplication, of   (i)the cash interest expense (including that attributable to Capitalized Leases), net of cash   interest income, of the Borrower and its Restricted Subsidiaries, determined on a consolidated ba   sis in accordance with GAAP, with respect to all outstanding Indebtedness of the Borrower and   its Restricted Subsidiaries, including all commissions, discounts and other fees and charges owed   -16-    

 

with respect to letters of credit and bankers’ acceptance financing and net cash costs under Swap   Contracts, and   (ii)any cash payments made during such period in respect of obligations referred to in   clause (b) below relating to Funded Debt that were amortized or accrued in a previous period;   provided that there shall be excluded from Consolidated Interest Expense for any period:   (a) deferred financing costs, debt issuance costs, commissions, fees (including   amendment and contract fees) and expenses and, in each case, the amortization thereof and any   other amounts of non-cash interest,   (b) the accretion or accrual of discounted liabilities and any prepayment premium or   penalty during such period,   (c) non-cash interest expense attributable to the movement of the mark-to-market   valuation of obligations under Swap Contracts or other derivative instruments pursuant to FASB   Accounting Standards Codification 815,   (d) any cash costs associated with breakage in respect of hedging agreements for in   terest rates,   (e) all non-recurring cash interest expense consisting of liquidated damages for fail   ure to timely comply with registration rights obligations and financing fees, all as calculated on a   consolidated basis in accordance with GAAP,   (f) fees and expenses associated with the consummation of the Transactions,   (g) annual agency fees paid to (x) the Administrative Agent and (y) the ABL Agent,   (h) costs associated with obtaining Swap Contracts,   (i) any expense resulting from the discounting of any Indebtedness in connection   with the application of recapitalization accounting or, if applicable, purchase accounting in con   nection with the Transactions or any acquisition,   U) the cash interest expense (or income) of all Unrestricted Subsidiaries for such pe   riod to the extent otherwise included in Consolidated Interest Expense, and   (Ic) commissions, discounts, yield and other fees and charges (including any interest   expense) related to any Qualified Securitization Financing.   Notwithstanding anything to the contrary contained herein, for purposes of determining Consoli   dated Interest Expense (i) for any period ending prior to the first anniversary of the Closing Date, Consol   idated Interest Expense shall be an amount equal to acthal Consolidated Interest Expense from the Clos   ing Date through the date of determination multiplied by a fraction the numerator of which is 365 and the   denominator of which is the number of days from the Closing Date through the date of determination and   (ii) shall exclude the purchase accounting effects described in the last sentence of the definition of Con   solidated Net Income.   -17-    

 

“Consolidated Net Income” means, for any period, the net income (loss) of the Borrower and   the Restricted Subsidiaries for such period determined on a consolidated basis in accordance with GAAP;   provided, however, that, without duplication,   (a) any after-tax effect of extraordinary, non-recurring or unusual items (including   gains or losses and all fees and expenses relating thereto) for such period shall be excluded,   (b) the cumulative effect of a change in accounting principles during such period to   the extent included in Consolidated Net Income shall be excluded,   (c) any fees and expenses incurred during such period (including, without limitation,   any premiums, make-whole or penalty payments), or any amortization thereof for such period, in   connection with any acquisition, investment, asset disposition, issuance or repayment of debt, is   suance of equity securities, refinancing transaction or amendment or other modification of any   debt instrument (in each case, including any such transaction consummated on or prior to the   Closing Date and any such transaction undertaken but not completed) and any charges or non   recurring merger costs incurred during such period as a result of any such transaction, in each   case whether or not successful (including, for the avoidance of doubt the effects of expensing all   transaction related expenses in accordance with FASB Accounting Standards Codification 805   and gains or losses associated with FASB Accounting Standards Codification 460) shall be ex   cluded,   (d) accruals and reserves that are established or adjusted within twelve months after   the Closing Date that are so required to be established as a result of the Transactions (or within   twelve months after the closing of any acquisition that are so required to be established as a result   of such acquisition) in accordance with GAAP or changes as a result of adoption or modification   of accounting policies in accordance with GAAP shall be excluded,   (e) any net after-tax effect of gains or losses on disposed, abandoned or discontinued   operations shall be excluded,   (f) any net after-tax effect of gains or losses (less all fees, expenses and charges re   lating thereto) attributable to asset dispositions or abandonments or the sale or other disposition of   any Equity Interests of any Person in each case other than in the ordinary course of business, as   determined in good faith by the Borrower, shall be excluded,   (g) the net income (loss) for such period of any Person that is not a Subsidiary of the   Borrower, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of ac   counting, shall be excluded; provided that Consolidated Net Income of the Borrower shall be in   creased by the amount of dividends or distributions or other payments that are actually paid in   cash or Cash Equivalents (or to the extent subsequently converted into cash or Cash Equivalents)   to the Borrower or a Restricted Subsidiary thereof in respect of such period,   (h) any impairment charge or asset write-off or write-down, including impairment   charges or asset write-offs or write-downs related to intangible assets, long-lived assets, invest   ments in debt and equity securities or as a result of a change in law or regulation, in each case,   pursuant to GAAP, and the amortization of intangibles arising pursuant to GAAP shall be exclud   ed,   -18-    

 

(i) any non-cash compensation charge or expense, including any such charge or ex   pense arising from the grants of stock appreciation or similar rights, stock options, restricted stock   or other rights or equity incentive programs or any other equity-based compensation shall be ex   cluded, and any cash charges associated with the rollover, acceleration or payout of Equity Inter   ests by management of the Borrower or any of its direct or indirect parents in connection with the   Transactions, shall be excluded,   U) any expenses, charges or losses that are covered by indemnification or other re   imbursement provisions in connection with any Investment, Pennitted Acquisition or any sale,   conveyance, transfer or other disposition of assets permitted under this Agreement, to the extent   actually reimbursed, or, so long as the Borrower has made a determination that a reasonable basis   exists for indemnification or reimbursement and only to the extent that such amount is in fact in   demnified or reimbursed within 365 days of such determination (with a deduction in the applica   ble future period for any amount so added back to the extent not so indemnified or reimbursed   within such 365 day period), shall be excluded,   (k) to the extent covered by insurance and actually reimbursed, or, so long as the   Borrower has made a determination that there exists reasonable evidence that such amount will in   fact be reimbursed by the insurer and only to the extent that such amount is in fact reimbursed   within 365 days of the date of such determination (with a deduction in the applicable future peri   od for any amount so added back to the extent not so reimbursed within such 365 days), expens   es, charges or losses with respect to liability or casualty events or business interruption shall be   excluded,   (1) any net pension or other post-employment benefit costs representing amortization   of unrecognized prior service costs, actuarial losses, including amortization of such amounts aris   ing in prior periods, amortization of the unrecognized net obligation (and loss or cost) existing at   the date of initial application of Statement on Financial Accounting Standards Nos. 87, 106 and   112, and any other items of a similar nature, shall be excluded,   (m) the income (or loss) of any Person accrued prior to the date it becomes a Re   stricted Subsidiary of Borrower or is merged into or consolidated with Borrower or any of its   Subsidiaries or that Person’s assets are acquired by Borrower or any of its Restricted Subsidiaries   shall be excluded (except to the extent required for any calculation of Consolidated EBITDA on a   Pro Forma Basis in accordance with Section 1.09),   (n) solely for the purpose of determining the Cumulative Credit pursuant to clause   (ab) of the definition thereof, the income of any Restricted Subsidiary of Borrower that is not a   Guarantor to the extent that the declaration or payment of dividends or similar distributions by   that Restricted Subsidiary of that income is not at the time permitted by operation of the terms of   its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental   regulation applicable to that Restricted Subsidiary (which has not been waived) shall be excluded,   except (solely to the extent permitted to be paid) to the extent of the amount of dividends or other   distributions actually paid to Borrower or any of its Restricted Subsidiaries that are Guarantors by   such Person during such period in accordance with such documents and regulations.   There shall be excluded from Consolidated Net Income for any period the purchase accounting effects of   adjustments in component amounts required or permitted by GAAP (including in the inventory, property   and equipment, sofiware, goodwill, intangible assets, in-process research and development, deferred rev   enue and debt line items thereof) and related authoritative pronouncements (including the effects of such   -19-    

 

adjustments pushed down to the Borrower and the Restricted Subsidiaries), as a result of the Transactions,   any acquisition constituting an Investment pennitted under this Agreement consummated prior to or after   the Closing Date, or the amortization or write-off of any amounts thereof. For the avoidance of doubt,   Consolidated Net Income shall be calculated, including pro forma adjustments, in accordance with Sec   tion 1.09.   “Consolidated Secured Net Debt” means, as of any date of determination, any Indebtedness de   scribed in clause (a) of the defmition of “Consolidated Total Net Debt” outstanding on such date that is   secured by a Lien on any asset or property of the Borrower or any Restricted Subsidiary minus the   of (x) the aggregate amount of cash and Cash Equivalents (other than Restricted Cash), in each case, in   cluded on the consolidated balance sheet of the Borrower and the Restricted Subsidiaries as of such date,   free and clear of all Liens (other than nonconsensual Liens permitted by Section 7.01 and Liens permitted   by Section 7.01(a), Section 7.01(p) and Section 7.01(q), clauses (i) and (ii) of Section 7.01(r), Section   7.01 (cc) (only to the extent the Obligations are secured by such cash and Cash Equivalents) and Section   7.01 (dd) (only to the extent the Obligations are secured by such cash and Cash Equivalents)) and (y)   $75 000 000 )) provided that Consolidated Secured Net Debt shall not include Indebtedness in respect of   (i) letters of credit, except to the extent of unreimbursed amounts thereunder; provided that any unreim   bursed amount under commercial letters of credit shall not be counted as Consolidated Secured Net Debt   until 3 Business Days after such amount is drawn, (ii) Unrestricted Subsidiaries and (iii) any Qualified   Securitization Financing; it being understood, for the avoidance of doubt, that obligations under Swap   Contracts do not constitute Consolidated Secured Net Debt.   “Consolidated Total Net Debt” means, as of any date of determination, (a) the aggregate princi   pal amount of Indebtedness of the Borrower and its Restricted Subsidiaries outstanding on such date, in   an amount that would be reflected on a balance sheet prepared as of such date on a consolidated basis in   accordance with GAAP (but excluding the effects of any discounting of Indebtedness resulting from the   application of purchase accounting in connection with the Transactions or any acquisition constituting an   Investment permitted under this Agreement) consisting of Indebtedness for borrowed money, Attributable   Jndebtedness, and debt obligations evidenced by promissory notes or similar instruments, minus (b) the   lesser of (x) the aggregate amount of cash and Cash Equivalents (other than Restricted Cash), in each   case, included on the consolidated balance sheet of the Borrower and the Restricted Subsidiaries as of   such date, free and clear of all Liens (other than nonconsensual Liens permitted by Section 7.01 and Liens   permitted by Section 7.01(a), Section 7.01(p), Section 7.01(q) and clauses (i) and (ii) of Section 7.01(r),   Section 7.01 (cc) (only to the extent the Obligations are secured by such cash and Cash Equivalents) and   Section7.Ol (dd) (only to the extent the Obligations are secured by such cash and Cash Equivalents   (y) $75 ,000,000,))j provided that Consolidated Total Net Debt shall not include Indebtedness in respect of   (i) letters of credit, except to the extent of unreimbursed amounts thereunder; provided that any unreim   bursed amount under commercial letters of credit shall not be counted as Consolidated Total Net Debt   until 3 Business Days after such amount is drawn, (ii) Unrestricted Subsidiaries and (iii) any Qualified   Securitization Financing; it being understood, for the avoidance of doubt, that obligations under Swap   Contracts do not constitute Consolidated Total Net Debt.   “Consolidated Working Capital” means, with respect to the Borrower and its Restricted Subsid   iaries on a consolidated basis at any date of determination, Current Assets at such date of determination   minus Current Liabilities at such date of determination; provided that increases or decreases in Consoli   dated Working Capital shall be calculated without regard to any changes in Current Assets or Current Li   abilities as a result of(a) any reclassification in accordance with GAAP of assets or liabilities, as applica   ble, between current and noncurrent or (b) the effects of purchase accounting.   “Contract Consideration” has the meaning set forth in the definition of “Excess Cash Flow.”   -20-    

 

“Contractual Obligation” means, as to any Person, any provision of any security issued by such   Person or of any agreement, instrument or other undertaking to which such Person is a party or by which   it or any of its property is bound.   “Control” has the meaning specified in the definition of “Affiliate.”   “Credit Agreement Refinancing Indebtedness” means (a) Permitted First Priority Refinancing   Debt, (b) Permitted Junior Priority Refmancing Debt or (c) Permitted Unsecured Refinancing Debt, in   each case, issued, incurred or otherwise obtained (including by means of the extension or renewal of ex   isting Jndebtedness) in exchange for, or to extend, renew, replace, repurchase, retire or refinance, in   whole or part, existing Term Loans, or any then-existing Credit Agreement Refmancing Indebtedness   (“Refinanced Debt”); provided that (i) such Indebtedness has a maturity no earlier, and a Weighted Av   erage Life to Maturity equal to or greater, than the Refinanced Debt, (ii) such Indebtedness shall not have   a greater principal amount than the principal amount of the Refinanced Debt plus accrued interest, fees,   premiums (if any) and penalties thereon and reasonable fees and expenses associated with the refinancing,   (iii) the terms and conditions of such Indebtedness (except as otherwise provided in clause (ii) above and   with respect to pricing, premiums and optional prepayment or redemption terms) reflect market terms at   time of incurrence, and if such Indebtedness contains financial maintenance covenants, such covenants   are not tighter (from the perspective of Holdings, Borrower and its Restricted Subsidiaries), or in addition   to, those contained herein (provided that a certificate of a Responsible Officer delivered to the Adminis   trative Agent at least five (5) Business Days prior to the incurrence of such Indebtedness, together with a   reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the   documentation relating thereto, stating that the Borrower has determined in good faith that such terms and   conditions satis& the requirement of this clause (iii) shall be conclusive evidence that such terms and   conditions satis~’ such requirement unless the Administrative Agent notifies the Borrower within such   five (5) Business Day period that it disagrees with such determination (including a description of the basis   upon which it disagrees)), and (iv) such Refinanced Debt shall be repaid, repurchased, retired, defeased or   satisfied and discharged, and all accrued interest, fees, premiums (if any) and penalties in connection   therewith shall be paid, on the date such Credit Agreement Refinancing Indebtedness is issued, incurred   or obtained.   “Credit Extension” means the making of a Loan.   “Cumulative Credit” means, at any date, an amount, not less than zero in the aggregate, deter   mined on a cumulative basis equal to, without duplication:   $50000000 1 s   f~) the Cumulative Retained Excess Cash Flow Amount at such time, pii~   (bc) the cumulative amount of cash and Cash Equivalent proceeds from (i) the sale of   Qualified Equity Interests of Holdings or Equity Interests of any direct or indirect parent of Hold   ings after the Closing Date and on or prior to such time (including upon exercise of warrants or   options) (other than Excluded Contributions or any amount designated as a Cure Amount or used   for Equity Funded Employee Plan Costs or proceeds used pursuant to clause (A) of Section   7.06(f)) which proceeds have been contributed as common equity to the capital of the Borrower   and (ii) the Qualified Equity Interests of Holdings (or Equity Interests of any direct or indirect   parent of Holdings) (other than Excluded Contributions or any amount designated as a Cure   -21-    

 

Amount or used for Equity Funded Employee Plan Costs) issued upon conversion of Indebted   ness (other than Indebtedness that is contractually subordinated to the Obligations) of the Bor   rower or any Restricted Subsidiary of the Borrower owed to a Person other than a Loan Party or a   Restricted Subsidiary of a Loan Party not previously applied for a purpose (including a Cure   Amount) other than use in the Cumulative Credit, pii~   (ed) 100% of the aggregate amount of contributions to the common capital of the Bor   rower received in cash and Cash Equivalents after the Closing Date (other than Excluded Contri   butions or any amount designated as a Cure Amount or used for Equity Funded Employee Plan   Costs), nina   (de) 100% of the aggregate amount received by the Borrower or any Restricted Sub   sidiary of the Borrower in cash and Cash Equivalents from:   (A) the sale (other than to Holdings, the Borrower or any such Restricted   Subsidiary) of the Equity Interests of an Unrestricted Subsidiary or any minority Invest   ments, or   (B) any dividend or other distribution by an Unrestricted Subsidiary or re   ceived in respect of minority Investments, or   (C) any interest, returns of principal, repayments and similar payments by   such Unrestricted Subsidiary or received in respect of any minority Investments;   provided that in the case of clauses (A), (B), and (C), in each case, to the extent that the Invest   ment corresponding to the designation of such Subsidiary as an Unrestricted Subsidiary or any   subsequent Investment in such Unrestricted Subsidiary or minority Investment, as applicable, was   made in reliance on the Cumulative Credit pursuant to Section 7.02(c)(iii)(B)(y), 7.02(i)(iv)(2) or   7.02(n)(y), pii~   (efl in the event any Unrestricted Subsidiary has been re-designated as a Restricted   Subsidiary or has been merged, consolidated or amalgamated with or into, or transfers or conveys   its assets to, or is liquidated into, the Borrower or a Restricted Subsidiary, the fair market value of   the Investments of the Borrower and the Restricted Subsidiaries in such Unrestricted Subsidiary   at the time of such redesignation, combination or transfer (or of the assets transferred or con   veyed, as applicable) so long as such Investments were originally made pursuant to Sections   7.02(c)(iii)(B)(y), 7.02(i)(iv)(2) or 7.02(n)(y), pin~   (fg) an amount equal to any returns in cash and Cash Equivalents (including divi   dends, interest, distributions, returns of principal, profits on sale, repayments, income and similar   amounts) actually received by the Borrower or any Restricted Subsidiary in respect of any In   vestments made pursuant to Section 7.02(c)(iii)(B)(y), 7.02(i)(iv)(2) or 7.02(n)(y), minus   (gh) any amount of the Cumulative Credit used to make Investments pursuant to Sec   tions 7.02(c)(iii)(B)(y), 7.02(i)(iv)(2) or 7.02(n)(y) after the Closing Date and prior to such time,   minus   (hi) any amount of the Cumulative Credit used to pay dividends or make distributions   pursuant to Section 7.06(0(A) or 7.06(g) after the Closing Date and prior to such time, minus   -22-    

 

(4j) any amount of the Cumulative Credit used to make payments or distributions in   respect of Junior Financings pursuant to Section 7.13 after the Closing Date and prior to such   time.   _“Cumulative Retained Excess Cash Flow Amount” means, at any date, an amount, not less   than zero in the aggregate, determined on a cumulative basis equal to the aggregate cumulative sum of the   Retained Percentage of Excess Cash Flow for all Excess Cash Flow Periods ending after the Closing Date   and prior to such date.   “Cure Amount” has the meaning set forth in Section 8.04(a).   “Cure Expiration Date” has the meaning set forth in Section 8.04(a).   “Current Assets” means, with respect to the Borrower and the Restricted Subsidiaries on a con   solidated basis at any date of determination, all assets (other than cash and Cash Equivalents) that would,   in accordance with GAAP, be classified on a consolidated balance sheet of the Borrower and its Restrict   ed Subsidiaries as current assets at such date of determination, other than amounts related to current or   deferred Taxes based on income or profits (but excluding assets held for sale, loans (permitted) to third   parties, pension assets, deferred bank fees and derivative fmancial instruments).   “Current Liabilities” means, with respect to the Borrower and the Restricted Subsidiaries on a   consolidated basis at any date of determination, all liabilities that would, in accordance with GAAP, be   classified on a consolidated balance sheet of the Borrower and its Restricted Subsidiaries as current liabil   ities at such date of determination, other than (a) the current portion of any Indebtedness, (b) accruals of   Consolidated Interest Expense (excluding Consolidated Interest Expense that is past due and unpaid), (c)   accruals for current or deferred Taxes based on income or profits, (d) accruals of any costs or expenses   related to restructuring reserves, (e) deferred revenue and (1) revolving loans, swing line loans and letter   of credit obligations under the ABL Facility or any other revolving credit facility.   “Debtor Relief Laws” means the Bankruptcy Code of the United States and all other liquidation,   conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receiv   ership, insolvency, reorganization or similar debtor relief Laws of the United States or other applicable   jurisdictions from time to time in effect and affecting the rights of creditors generally.   “Default” means any event or condition that constitutes an Event of Default or that, with the giv   ing of any notice, the passage of time, or both, would be an Event of Default.   “Default Rate” means an interest rate equal to (a) the Base Rate plus (b) the Applicable Rate, if   any, applicable to Base Rate Loans plus (c) 2.0% per annum; provided that with respect to a Eurocurrency   Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable   Rate) otherwise applicable to such Loan plus 2.0% per annum, in each case, to the fhllest extent permitted   by applicable Laws.   “Discount Prepayment Accepting Lender” has the meaning set forth in Sec   tion 2.05(a)(v)(B)(2).   “Discount Range” has the meaning set forth in Section 2.05(a)(v)(C)(l).   “Discount Range Prepayment Amount” has the meaning set forth in Section 2.05(a)(v)(C)(l).   -23-    

 

“Discount Range Prepayment Notice” means a written notice of a Borrower Solicitation of Dis   count Range Prepayment Offers made pursuant to Section 2.05(a)(v)(C) substantially in the form of Ex   hibit E-4.   “Discount Range Prepayment Offer” means the irrevocable written offer by a Lender, substan   tially in the form of Exhibit E-5, submitted in response to an invitation to submit offers following the   Auction Agent’s receipt of a Discount Range Prepayment Notice.   “Discount Range Prepayment Response Date” has the meaning set forth in Sec   tion 2.05(a)(v)(C)(l).   “Discount Range Proration” has the meaning set forth in Section 2.05(a)(v)(C)(3).   “Discounted Prepayment Determination Date” has the meaning set forth in Sec   tion 2.05(a)(v)(D)(3).   “Discounted Prepayment Effective Date” means in the case of a Borrower Offer of Specified   Discount Prepayment, Borrower Solicitation of Discount Range Prepayment Offer or Borrower Solicita   tion of Discounted Prepayment Offer, five (5) Business Days following the Specified Discount Prepay   ment Response Date, the Discount Range Prepayment Response Date or the Solicited Discounted Pre   payment Response Date, as applicable, in accordance with Section 2.05(a)(v)(B)(1), Sec   tion 2.05(a)(v)(C)(1) or Section 2.05(a)(v)(D)(1), respectively, unless a shorter period is agreed to be   tween the Borrower and the Auction Agent.   “Discounted Term Loan Prepayment” has the meaning set forth in Section 2.05(a)(v)(A).   “Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (including   any sale and leaseback transaction and any sale or issuance of Equity Interests in a Restricted Subsidiary)   of any property by any Person, including any sale, assignment, transfer or other disposal, with or without   recourse, of any notes or accounts receivable or any rights and claims associated therewith.   “Disqualified Equity Interests” means any Equity Interest that, by its terms (or by the terms of   any security or other Equity Interests into which it is convertible or for which it is exchangeable), or upon   the happening of any event or condition (a) matures or is mandatorily redeemable (other than solely for   Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a   change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a   change of control or asset sale event shall be subject to the prior repayment in full of the Loans and all   other Obligations that are accrued and payable and the termination of the Commitments), (b) is redeema   ble at the option of the holder thereof (other than solely for Qualified Equity Interests and other than as a   result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence   of a change of control or asset sale event shall be subject to the prior repayment in full of the Loans and   all other Obligations that are accrued and payable and the termination of the Commitments), in whole or   in part, (c) provides for the scheduled payments of dividends in cash, or (d) is or becomes convertible into   or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified Equity   Interests, in each case, prior to the date that is ninety-one (91) days afler the Latest Maturity Date at the   time of issuance of such Equity Interests; provided that if such Equity Interests are issued pursuant to a   plan for the benefit of employees of Holdings (or any direct or indirect parent thereof), the Borrower or   the Restricted Subsidiaries or by any such plan to such employees, such Equity Interests shall not consti   tute Disqualified Equity Interests solely because it may be required to be repurchased by the Borrower or   if its Restricted Subsidiaries in order to satis~’ applicable statutory or regulatory obligations.   -24-    

 

“Documentation Agent” means RBC Capital Markets, in its capacity as documentation agent   under this Agreement.   “Dollar” and “$“ mean lawful money of the United States.   “Domestic Subsidiary” means any Subsidiary that is organized under the Laws of the United   States, any state thereof or the District of Columbia.   “Effective Yield” means, as to any Loans of any Class, the effective yield on such Loans, taking   into account the applicable interest rate margins, any interest rate floors or similar devices and all fees,   including upfront or similar fees or original issue discount (amortized over the shorter of (x) the original   stated life of such Loans and (y) the four years following the date of incurrence thereof) payable generally   to Lenders making such Loans, but excluding any arrangement, structuring or other fees payable in con   nection therewith that are not generally shared ratably with all relevant Lenders and consent fees paid   generally to consenting Lenders.   “Eligible Assignee” has the meaning set forth in Section 1 0.07(a)(i).   “Environment” means indoor air, ambient air, surface water, groundwater, drinking water, land   surface, subsurface strata, and natural resources such as wetlands, flora and fauna.   “Environmental Laws” means any applicable Law relating to the prevention of pollution or the   protection of the Environment and natural resources, and the protection of human health and safety as it   relates to the Environment, including any applicable provisions of the Comprehensive Environmental Re   sponse, Compensation and Liability Act, 42 U.S.C. § 9601 et seq., the Hazardous Materials Transporta   tion Act, 49 U.S.C. § 5101 et seq., the Resource Conservation and Recovery Act, 42 U.S.C. § 6901 et   seq., the Clean Water Act, 33 U.S.C. § 1251 et seq., the Clean Air Act, 42 U.S.C. § 7401 et seq., the Tox   ic Substances Control Act, 15 U.S.C. § 2601 et seq., the Occupational Safety and Health Act, 29 U.S.C.   § 651 et seq., and the Oil Pollution Act of 1990, 33 U.S.C. § 2701 et seq., and all analogous state or local   statutes, and the regulations promulgated pursuant thereto.   “Environmental Liability” means any liability, contingent or otherwise (including any liability   for damages, costs of investigation and remediation, fines, penalties or indemnities), of the Loan Parties   or any Restricted Subsidiary directly or indirectly resulting from or based upon (a) violation of any Envi   ronmental Law, (b) the generation, use, handling, transportation, storage or treatment of any Hazardous   Materials, (c) exposure to any Hazardous Materials, (d) the Release or threatened Release of any Hazard   ous Materials or (e) any contract, agreement or other consensual arrangement pursuant to which liability   is assumed or imposed with respect to any of the foregoing.   “Environmental Permit” means any permit, approval, identification number, license or other au   thorization required under any Environmental Law.   “Equity Funded Employee Plan Costs” means cash costs or expenses, incurred pursuant to any   management equity plan or stock option plan or any other management or employee benefit plan or   agreement or any stock subscription or shareholder agreement, to the extent funded with cash proceeds   contributed to the capital of the Borrower or net cash proceeds of an issuance of Qualified Equity Inter   ests of the Borrower or Equity Interests of any direct or indirect parent of the Borrower (other than   amounts designated as Excluded Contributions, any amount designated as a Cure Amount or any amount   used in the Cumulative Credit).   -25-    

 

“Equity Interests” means, with respect to any Person, all of the shares, interests, rights, partici   pations or other equivalents (however designated) of capital stock of (or other ownership or profit inter   ests or units in) such Person and all of the warrants, options or other rights for the purchase, acquisition or   exchange from such Person of any of the foregoing (including through convertible securities).   “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time   to time.   “ERISA Affiliate” means any trade or business (whether or not incorporated) that is under com   mon control with a Loan Party or any Restricted Subsidiary within the meaning of Section 414(b) or (c)   of the Code or Section 4001 of ERISA (and Sections 414(m) and (o) of the Code for purposes of provi   sions relating to Section 412 of the Code).   “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a withdrawal   by a Loan Party, any Restricted Subsidiary or any ERISA Affiliate from a Pension Plan subject to Sec   tion 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Sec   tion 4001(a)(2) of ERISA) or a cessation of operations that is treated as such a withdrawal under Sec   tion 4062(e) of ERISA; (c) a complete or partial withdrawal by a Loan Party, any Restricted Subsidiary or   any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorgani   zation (within the meaning of Section 4241 of ERISA) or insolvent (within the meaning of Section 4245   of ERISA) or in “endangered” or “critical” status (within the meaning of Section 432 of the Code or Sec   tion 305 of ERISA); (d) a determination that any Pension Plan is in “at risk” status (within the meaning of   Section 430 of the Code or Section 303 of ERISA); (e) the filing of a notice of intent to terminate, the   treatment of a Pension Plan or Multiemployer Plan amendment as a termination under Sections 4041 or   4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan or   Multiemployer Plan; (I) an event or condition which constitutes grounds under Section 4042 of ERISA   for, and that could reasonably be expected to result in, the termination of, or the appointment of a trustee   to administer, any Pension Plan or Multiemployer Plan; (g) with respect to a Pension Plan, the failure to   satisfy the minimum funding standard of Section 412 of the Code, whether or not waived, (h) a failure by   a Loan Party, any Restricted Subsidiary or any ERISA Affiliate to make a required contribution to a Mul   tiemployer Plan; (i) the occurrence of a nonexempt prohibited transaction (within the meaning of Sec   tion 4975 of the Code or Section 406 of ERISA) which could result in liability to a Loan Party or any Re   stricted Subsidiary; or ~) the imposition of any liability under Title W of ERISA, other than for PBGC   premiums due under Section 4007 of ERISA, upon a Loan Party, any Restricted Subsidiary or any ERISA   Affiliate.   “Eurocurrency Rate” means:   (a) for any Interest Period with respect to a Eurocurrency Rate Loan, the rate per an   num equal to (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by   Reuters (or such other commercially available source providing quotations of BBA LIBOR as   may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m.,   London time, two London Banking Days prior to the commencement of such Interest Period, for   Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to   such Interest Period or (ii) if such published rate is not available at such time for any reason, then   the “Eurocurrency Rate” for such Interest Period shall be the rate per annum determined by the   Administrative Agent to be the rate at which deposits in Dollars for delivery on the first day of   such Interest Period in same day funds in the approximate amount of the Eurocurrency Rate Loan   being made, continued or converted by Citi and with a term equivalent to such Interest Period   would be offered by Citi’s London Branch to major banks in the London interbank Eurodollar   -26-    

 

market at their request at approximately 11:00 a.m. (London time) two London Banking Days   prior to the commencement of such Interest Period; and   (b) for any interest calculation with respect to a Base Rate Loan on any date, the rate   per annum equal to (i) BBA LIBOR, at approximately 11:00 a.m., London time determined two   London Banking Days prior to such date for Dollar deposits being delivered in the London inter-   bank market for a term of one month commencing that day or (ii) if such published rate is not   available at such time for any reason, the rate per annum determined by the Administrative Agent   to be the rate at which deposits in Dollars for delivery on the date of determination in same day   funds in the approximate amount of the Base Rate Loan being made or maintained and with a   term equal to one month would be offered by Citi’s London Branch to major banks in the London   interbank Eurodollar market at their request at the date and time of determination;   provided that in all cases (a) or (b), the Eurocurrency Rate shall not be less than 1.00% per annum.   “Eurocurrency Rate Loan” means a Loan that bears interest at a rate based on clause (a) of the   defmition of”Eurocurrency Rate.”   “Event of Default” has the meaning specified in Section 8.01.   “Excess Cash Flow” means, for any period, an amount equal to:   (a) the sum, without duplication, of   (i)Consolidated Net Income for such period,   (ii)an amount equal to the amount of all non-cash charges (including depreciation   and amortization) to the extent deducted in arriving at such Consolidated Net Income,   (iii) decreases in Consolidated Working Capital and long-term accounts re   ceivable (outside of the ordinary course of business) for such period (other than any such   decreases arising from acquisitions or dispositions (outside of the ordinary course of   business) by the Borrower and its Restricted Subsidiaries completed during such period),   (iv) an amount equal to the aggregate net non-cash loss on Dispositions by   the Borrower and its Restricted Subsidiaries during such period (other than sales in the   ordinary course of business) to the extent deducted in arriving at such Consolidated Net   Income,   (v)expenses deducted from Consolidated Net Income during such period in re   spect of expenditures made during any prior period for which a deduction from Excess   Cash Flow was made in such period pursuant to clause (b)(xi), (xii) or (xiii) below,   (vi) cash income or gain (actually received in cash) excluded from the calcu   lation of Consolidated Net Income for such period pursuant to the definition thereof, and   (vii) cash receipts in respect of Swap Contracts during such period to the ex   tent not already reflected in Consolidated Net Income for such period, minus   -27-    

 

(b) the sum, without duplication, of   (i)an amount equal to the amount of all non-cash credits included in an-iving at   such Consolidated Net Income, and cash charges included in clauses (a) through (m) of   the definition of Consolidated Net Income,   (ii)without duplication of amounts deducted pursuant to clause (xi) below in prior   periods, the amount of Capital Expenditures or acquisitions of intellectual property to the   extent not expensed and Capitalized Software Expenditures accrued or made in cash or   accrued during such period, to the extent that such Capital Expenditures or acquisitions   were financed with Internally Generated Cash and were not made by utilizing the Cumu   lative Retained Excess Cash Flow Amount,   (iii) the aggregate amount of all principal payments of Indebtedness of the   Borrower or its Restricted Subsidiaries to the extent financed with Internally Generated   Cash) (including (A) the principal component of payments in respect of Capitalized   Leases and (B) the amount of any scheduled repayment of Term Loans pursuant to Sec   tion 2.07 and any mandatory prepayment of Term Loans pursuant to Section 2.05(b)(ii)   to the extent required due to a Disposition that resulted in an increase to Consolidated Net   Income and not in excess of the amount of such increase, but excluding (W) all other   prepayments of Term Loans (other than prepayments referred to in clause (B) above) dur   ing such period, (X) all prepayments of ABL Facility Indebtedness, (Y) all prepayments   in respect of any other revolving credit facility, except to the extent there is an equivalent   permanent reduction in commitments thereunder and (Z) payments of any Junior Financ   ing made during such period except to the extent permitted to be paid pursuant to Section   7.13(a),   (iv) an amount equal to the aggregate net non-cash gain on Dispositions by   the Borrower and its Restricted Subsidiaries during such period (other than Dispositions   in the ordinary course of business) to the extent included in arriving at such Consolidated   Net Income,   (v)increases in Consolidated Working Capital and long-term accounts receivable   for such period (other than any such increases arising from acquisitions or dispositions by   the Borrower and its Restricted Subsidiaries during such period),   (vi) cash payments by the Borrower and its Restricted Subsidiaries during   such period in respect of long-term liabilities of the Borrower and its Restricted Subsidi   aries other than Indebtedness to the extent such payments are not expensed during such   period or are not deducted in calculating Consolidated Net Income and to the extent fi   nanced with Internally Generated Cash,   (vii) without duplication of amounts deducted pursuant to clause (xi) below in   prior fiscal years, the amount of Investments and acquisitions made in cash during such   period pursuant to Section 7.02 (other than Section 7.02(a), (c), (h), (I), (q), (r), (s) or (0)   to the extent that such Investments and acquisitions were financed with Internally Gener   ated Cash and were not made by utilizing the Cumulative Retained Excess Cash Flow   Amount,   -28-    

 

(viii) the amount of Restricted Payments paid during such period pursuant to   Section 7.06W, (g)(x), (h) and (j) to the extent such Restricted Payments were financed   with Internally Generated Cash,   (ix) to the extent not otherwise decreasing Consolidated Net Income in such   Excess Cash Flow Period, the aggregate amount of expenditures actually made by the   Borrower and its Restricted Subsidiaries in cash during such period (including expendi   tures for the payment of financing fees) to the extent that such expenditures are not ex   pensed during such period,   (x)the aggregate amount of any premium, make-whole or penalty payments actu   ally paid in cash by the Borrower and its Restricted Subsidiaries during such period that   are required to be made in connection with any prepayment of Indebtedness,   (xi) without duplication of amounts deducted from Excess Cash Flow in prior   periods, the aggregate consideration required to be paid in cash by the Borrower and its   Restricted Subsidiaries pursuant to binding contracts (the “Contract Consideration”)   entered into prior to or during such period relating to acquisitions constituting Invest   ments permitted under this Agreement, Capital Expenditures, Capitalized Soflware Ex   penditures or acquisitions of intellectual property to the extent expected to be consum   mated or made, plus any restructuring cash expenses, pension payments or tax contingen   cy payments that have been added to Excess Cash Flow pursuant to clause (a)(ii) above   that will be required to be made, in each case during the period of four consecutive fiscal   quarters of the Borrower following the end of such period; provided that to the extent the   aggregate amount of Internally Generated Cash not utilizing the Cumulative Retained   Excess Cash Flow Amount actually utilized to finance such acquisitions, Capital Expend   itures, Capitalized Sofiware Expenditures or acquisitions of intellectual property during   such period of four consecutive fiscal quarters is less than the Contract Consideration, the   amount of such shortfall shall be added to the calculation of Excess Cash Flow at the end   of such period of four consecutive fiscal quarters,   (xii) the amount of cash taxes paid in such period to the extent they exceed the   amount of tax expense deducted in determining Consolidated Net Income for such peri   od,   (xiii) cash expenditures in respect of Swap Contracts during such period to the   extent not deducted in arriving at such Consolidated Net Income, and   (xiv) any payment of cash to be amortized or expensed over a future period   and recorded as a long-term asset (so long as any such amortization or expense in such   future period is added back to Excess Cash Flow in such future period).   Notwithstanding anything in the definition of any term used in the defmition of “Excess Cash   Flow” to the contrary, all components of Excess Cash Flow shall be computed for the Borrower and its   Restricted Subsidiaries on a consolidated basis.   “Excess Cash Flow Period” means each fiscal year of the Borrower commencing with and in   cluding the fiscal year ending March 31, 2013 but in all cases for purposes of calculating the Cumulative   Retained Excess Cash Flow Amount shall only include such fiscal years for which financial statements   and a Compliance Certificate have been delivered in accordance with Sections 6.01(a) and 6.02(a) and for   -29-    

 

which any prepayments required by Section 2.05(b)(i) (if any) have been made (it being understood that   the Retained Percentage of Excess Cash Flow for any Excess Cash Flow Period shall be included in the   Cumulative Retained Excess Cash Flow Amount regardless of whether a prepayment is required by Sec   tion 2.05(b)(i)).   “Exchange Act” means the Securities Exchange Act of 1934, as amended.   “Exchanged Term B Loans” means each Term B Loan (or portion thereof) as to which the   Lender thereof has consented pursuant to a Consent (as defined in Amendment No. 1) to exchange into a   Term B-i Loan via cashless settlement and the Arrangers have allocated into a Term B-i Loan. The ag   gregate principal amount of Exchanged Term B Loans on the Amendment No. 1 Effective Date is   $389,270,635.03.   -“Excluded Assets” means (i) any fee owned real property (other than Material Real Properties)   and any leasehold rights and interests in real property (including landlord waivers, estoppels and collat   eral access letters), (ii) motor vehicles and other assets subject to certificates of title, (iii) commercial tort   claims, (iv) licenses, state or local franchises, charters and authorizations and any other property and as   sets to the extent that the Administrative Agent may not validly possess a security interest therein under   applicable Laws (including, without limitation, rules and regulations of any Governmental Authority or   agency) or the pledge or creation of a security interest in which would require governmental consent, ap   proval, license or authorization, other than to the extent such prohibition or limitation is rendered ineffec   tive under the UCC or other applicable Law notwithstanding such prohibition, (v) any particular asset or   right under contract, if the pledge thereof or the security interest therein (A) is prohibited by applicable   Law other than to the extent such prohibition is rendered ineffective under the UCC or other applicable   Law notwithstanding such prohibition or (B) to the extent and for as long as it would violate the terms of   any written agreement, license or lease with respect to such asset (in each case, after giving effect to the   relevant provisions of the UCC or other applicable Laws) or would give rise to a termination right pursu   ant to any “change of control” or other similar provision under such written agreement, license or lease   (except to the extent such provision is overridden by the UCC or other applicable Laws), in each case, (a)   excluding any such written agreement that relates to Credit Agreement Refinancing Indebtedness or Per   mitted Ratio Debt and (b) only to the extent that such limitation on such pledge or security interest is oth   erwise permitted under Section 7.09, (vi) Margin Stock and Equity Interests in any Person other than   wholly owned Restricted Subsidiaries (but excluding Excluded Pledged Subsidiaries and Subsidiaries that   are not Material Subsidiaries), (vii) any permitted agreement, lease, license or property subject to a pur   chase money security interest or other similar arrangement to the extent the pledges thereof and security   interests therein are prohibited by such permitted agreement, lease, license or purchase money arrange   ment, other than proceeds and receivables thereof, except to the extent the pledge of such permitted   agreement, lease, license or property is expressly deemed effective under the Uniform Commercial Code   or other applicable Law or principle of equity notwithstanding such prohibition, (viii) the creation or per   fection of pledges ot or security interests in, any property or assets that would result in material adverse   tax consequences to Holdings, the Borrower or any of its Restricted Subsidiaries, as reasonably deter   mined by the Borrower in consultation with the Administrative Agent, (ix) letter of credit rights, except to   the extent constituting support obligations for other Collateral as to which perfection of the security inter   est in such other Collateral is accomplished solely by the filing of a UCC financing statement (it being   understood that no actions shall be required to perfect a security interest in letter of credit rights, other   than the filing of a UCC financing statement),( x) cash and Cash Equivalents (other than (A) proceeds of   Collateral as to which perfection of the security interest in such proceeds is accomplished solely by the   filing of a UCC financing statement and (B) as set forth in the second succeeding parenthetical phrase),   deposit and other bank and securities accounts (including securities entitlements and related assets) (in   each case, other than the Blocked Accounts (as defined in the Security Agreement) or other accounts sub   -30-    

 

ject to a control agreement in accordance with Section 3.03(g) of the Security Agreement and proceeds of   Collateral held in such accounts) and any other assets requiring perfection through control agreements or   by “control” (other than in respect of certificated Equity Interests in the Borrower and in wholly owned   Restricted Subsidiaries that are Material Subsidiaries, which Equity Interests are otherwise required to be   pledged), (xi) any intent-to-use trademark application prior to the filing of a “Statement of Use” or   “Amendment to Allege Use” with respect thereto, to the extent, if any, that, and solely during the period,   if any, in which the grant of a security interest therein would impair the validity or enforceability of such   intent-to-use trademark application under applicable federal Law and (xii. (10 the Bonine Assets (as de   fined in the FTC Order and xiii particular assets if and for so long as, in the reasonable judgment of the   Administrative Agent in consultation with the Borrower, the cost of creating or perfecting such pledges or   security interests in such assets or obtaining title insurance, surveys, abstracts or appraisals in respect of   such assets exceed the practical benefits to be obtained by the Lenders therefrom; provided, however, that   Excluded Assets shall not include any Proceeds, substitutions or replacements of any Excluded Assets   referred to in clause (i) through (xi _) (unless such Proceeds, substitutions or replacements would inde   pendently constitute Excluded Assets referred to in clauses (i) through (xii )). Notwithstanding the forego   ing, in no event shall any asset securing any Indebtedness incurred pursuant to Section 7.03(r) or 7.03(s)   be an Excluded Asset.   “Excluded Contribution” means the amount of capital contributions to the Borrower or net pro   ceeds from the sale or issuance of Qualified Equity Interests of the Borrower (or issuances of debt securi   ties that have been converted into or exchanged for any such Equity Interests) (other than any amount   designated as a Cure Amount or used for Equity Funded Employee Plan Costs) and designated by the   Borrower to the Administrative Agent as an Excluded Contribution on the date such capital contributions   are made or such Equity Interests are sold or issued.   “Excluded Pledged Subsidiary” means (a) any Subsidiary for which the pledge of its Equity In   terests is prohibited by applicable Law or by Contractual Obligations (excluding any Contractual Obliga   tions that relates to Credit Agreement Refinancing Jndebtedness or Permitted Ratio Debt) existing on the   Closing Date (or, in the case of a newly acquired Subsidiary, in existence at the time of acquisition but   not entered into in contemplation thereof) or for which governmental (including regulatory) consent, ap   proval, license or authorization would be required, (b) any other Subsidiary with respect to which, in the   judgment of the Borrower and the Administrative Agent, the burden or cost or other consequences of the   pledge of its Equity Interests shall be excessive in view of the benefits to be obtained by the Lenders   therefrom, (c) any not-for-profit Subsidiaries, (d) any special purpose securitization vehicle (or similar   entity), including any Securitization Subsidiary only to the extent that the pledge of its Equity Interests is   prohibited by applicable Law or by Contractual Obligations in connection with a Qualified Securitization   Financing and (e) any Subsidiary for which the pledge of its Equity Interests would result in any material   adverse tax consequences for Holdings, the Borrower or any of its Restricted Subsidiaries, as reasonably   determined by the Borrower, in consultation with the Administrative Agent. Notwithstanding the forego   ing, in no event shall any Subsidiary that is an obligor under any Indebtedness incurred pursuant to Sec   tion 7.03(r) or 7.03(s) be an Excluded Pledged Subsidiary.   “Excluded Subsidiary” means (a) any Subsidiary that is not a wholly owned Subsidiary of the   Borrower or a Guarantor, (b) any Subsidiary that is prohibited by applicable Law or by Contractual Obli   gations existing on the Closing Date (or, in the case of any newly acquired Subsidiary, in existence at the   time of acquisition but not entered into in contemplation thereof) from guaranteeing the Obligations or if   guaranteeing the Obligation would require governmental (including regulatory) consent, approval, license   or authorization, (c) any other Subsidiary with respect to which, in the judgment of the Borrower and the   Administrative Agent, the burden or cost or other consequences of providing a Guarantee of the Obliga   tions shall be excessive in view of the benefits to be obtained by the Lenders therefrom, (d) any Foreign   -31-    

 

Subsidiary, (e) any non-for-profit Subsidiaries, (f) any Unrestricted Subsidiaries, (g) any special purpose   securitization vehicle (or similar entity), including any Securitization Subsidiary, (h) any Subsidiaries that   are captive insurance companies, (i) any direct or indirect Domestic Subsidiary that has no material assets   other than Equity Interests (including any Indebtedness treated as equity for U.S. federal income tax pur   poses) of one or more Foreign Subsidiaries that are CFCs, (j) any Domestic Subsidiary that is a direct or   indirect Subsidiary of a Foreign Subsidiary that is a CFC and (k) any Subsidiary with respect to which the   provision of a Guarantee of the Obligations would result in any material adverse tax consequences for   Holdings, the Borrower or any of its Restricted Subsidiaries, as reasonably determined by the Borrower,   in consultation with the Administrative Agent . Notwithstanding the foregoing, in no event shall any Sub   sidiary that is an obligor under any Indebtedness incurred pursuant to Section 7.03(r) or 7.03(s) be an Ex   cluded Subsidiary.   “Excluded Swap Obli2ation” means. with respect to any Loan Party, any Swap Obligation if,   and to the extent that all or a rtion of the Guarantee of such Loan Part of or the nt b such Loan   Party of a security interest to secure, such Swap Obligation (or any Guarantee thereof) is or becomes ille   al or unlawful under the Commodit Exchan e Act or an rule re lation or order of the Commodit   Futures Trading Commission (or the application or official interpretation of any thereof) by yirtue of such   Loan P ‘s failure for an reason to constitute an “eli ble contract artici ant” as defined in the Com   modity Exchange Act (for the avoidance of doubt. giving effec to all provisions of the Loan Documents   at the time of such Guarantee or the t of such securi interest at the time the Guarantee of such Loan   P or a I b such Loan Part of a securit interest would otherwise have become effective with   respect to such Swap Obligation but for such Loan Party’s failure to constitute an “eligible contract par   tici ant” at such time If a Swa Obh ation anses under a master a ment ovemin more than one   swap, such exclusion shall apply only to the port on of such wap Obligation that is attributable to swaps   for which such Guarantee or securi interest is or becomes excluded in accordance with the first sentence   of this definition.   “Existing Notes” means the $250,000,000 in aggregate principal amount of the 8.25° o senior   notes due 2018 issued pursuant to the Existing Notes Indenture and outstanding on the Closing Date.   “Existing Notes Indenture” means the Indenture for the Existing Notes, dated as of March 24,   2010, between the Borrower and U.S. Bank National Association, as trustee, as in effect on the Closing   Date and as amended, modified, supplemented, replaced or refinanced to the extent not prohibited by this   Agreement.   “Existing Term Loan Tranche” has the meaning provided in Section 2.16(a).   “Extended Term Loans” has the meaning provided in Section 2.16(a).   “Extending Term Lender” has the meaning provided in Section 2.16(c).   “Extension” means the establishment of a Term Loan Extension Series by amending a Loan pur   suant to Section 2.16 and the applicable Extension Amendment.   “Extension Amendment” has the meaning provided in Section 2.16(d).   “Extension Election” has the meaning provided in Section 2.16(c).    

 

“Facility” means the Term B-i Loans. Term B-2 Loans, a given Refinancing Series of Refinanc   ing Term Loans, a given Term Loan Extension Series of Extended Term Loans, a given Class of Incre   mental Term Loans or any Other Term Loan (or Commitment), as the context may require.   “FATCA” means current Sections 1471 through 1474 of the Code and any amended or successor   version thereof that is substantively comparable and not materially more onerous to comply with, and any   current or future Treasury Regulations or other administrative guidance promulgated thereunder.   “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of   the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged   by Federal funds brokers on such day, as published by the Federal Reserve Bank on the Business Day   next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for   such day shall be such rate on such transactions on the next preceding Business Day as so published on   the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Busi   ness Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to   a whole multiple of 1/100 of 1%) charged to the Administrative Agent on such day on such transactions   as determined by the Administrative Agent.   “Fee Letter” means the Fee Letter, dated as of December 20, 2011, among Holdings and the Ar   rangers.   “FIRREA” means the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as   amended.   “First Lien Intercreditor Agreement” means an intercreditor agreement substantially in the   form of Exhibit K hereto (which agreement in such form or with immaterial changes thereto the Adminis   trative Agent is authorized to enter into) together with any material changes thereto in light of prevailing   market conditions, which material changes shall be posted to the Lenders not less than five (5) Business   Days before execution thereof and, if the Required Lenders shall not have objected to such changes with   in five (5) Business Days after posting, then the Required Lenders shall be deemed to have agreed that the   Administrative Agent’s entry into such intercreditor agreement (with such changes) is reasonable and to   have consented to such intercreditor agreement (with such changes) and to the Administrative Agent’s   execution thereof.   “Flood Insurance Laws” means, collectively, (i) the National Flood Insurance Act of 1968 as   now or hereafter in effect or any successor statute thereto, (ii) the Flood Disaster Protection Act of 1973   as now or hereafter in effect or any successor statue thereto, (iii) the National Flood Insurance Reform   Act of 1994 as now or hereafter in effect or any successor statute thereto and (iv) the Flood Insurance Re   form Act of 2004 as now or hereafter in effect or any successor statute thereto.   “Foreign Disposition” has the meaning set forth in Section 2.05(b)(vii).   “Foreign IP Subsidiary” means one or more wholly owned Subsidiaries of any Loan Party (a)   that is incorporated in Ireland, Switzerland or otherjurisdictions reasonably acceptable to the Administra   tive Agent, (b) whose Equity Interests shall be pledged to the Administrative Agent to the extent required   pursuant to Section 6.11 and (c)(i) whose Organization Documents do not prevent or otherwise limit, and   whose jurisdiction of organization and applicable Law do not prevent or otherwise limit, the granting of   Liens to the Administrative Agent on 65% of the Equity Interests of such wholly owned Subsidiaries,   foreclosure under such Liens or any other exercise of remedies similar to the remedies set forth in the   Collateral Documents in respect of capital stock and (ii) whose Organization Documents do not prevent   -33-    

 

or otherwise limit (except to the extent required by applicable Law), any payment by any wholly owned   Subsidiary to any Loan Party (whether directly or indirectly through any wholly owned Subsidiary).   “Foreign II’ Transfer” means the transfer to one or more Foreign IP Subsidiaries of (a) any in   tellectual property to the extent registered in any jurisdiction other than the United States or any State   thereof or the District of Columbia or (b) any unregistered intellectual property and all rights under manu   facturing, distribution and other contracts, in each case to the extent such intellectual property and rights   are used in or otherwise related to the development, marketing, manufacturing, packaging, handling, dis   tribution or sale of products sold only outside of the United States.   “Foreign Subsidiary” means any direct or indirect Restricted Subsidiary of the Borrower which   is not a Domestic Subsidiary.   “FTC Order” means that certain FTC Decision and Order governing the scope, nature and extent   and uirements of that certain Asset Purchase A eement dated as of Au t 14 2014 b and between   Medtech Products Inc. and the Bu er as defined therein   “Fund” means any Person (other than a natural person) that is engaged in malcing, purchasing,   holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary   course.   “Funded Debt” means all Indebtedness of the Borrower and the Restricted Subsidiaries for bor   rowed money that matures more than one year from the date of its creation or matures within one year   from such date that is renewable or extendable, at the option of such Person, to a date more than one year   from such date or arises under a revolving credit or similar agreement that obligates the lender or lenders   to extend credit during a period of more than one year from such date, including Indebtedness in respect   of the Loans.   “GAAP” means generally accepted accounting principles in the United States of America, as in   effect from time to time; provided, however, that if the Borrower notifies the Administrative Agent that   the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occur   ring after the Closing Date in GAAP or in the application thereof (including through conforming changes   made consistent with IFRS) on the operation of such provision (or if the Administrative Agent notifies the   Borrower that the Required Lenders request an amendment to any provision hereof for such purpose),   regardless of whether any such notice is given before or after such change in GAAP or in the application   thereof (including through conforming changes made consistent with IFRS), then such provision shall be   interpreted on the basis of GAAP as in effect and applied immediately before such change shall have be   come effective until such notice shall have been withdrawn or such provision amended in accordance   herewith, provided further that, notwithstanding anything to the contrary contained herein or in the defini   tion of”Ca italized Lease” in the event of an chan e in GAAP or in the a lication thereof includin   through conforming changes made consistent with WRS) requiring all leases to be capitalized, only those   leases assumin for ses hereof that such leases were in existence on the date hereo that would   constitute Ca italized Leases in conformit with GAAP on the date hereof shall be considered Ca italized   Leases, and al calculations and deliverables under this Agreement or any other Loan Document shall be   made or delivered as a licable in accordance therewith.   “Governmental Authority” means any nation or government, any state or other political subdi   vision thereot any agency, authority, instrumentality, regulatory body, court, administrative tribunal, cen   tral bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative   powers or functions of or pertaining to government.   -34-    

 

“Granting Lender” has the meaning specified in Section 10.07(h).   “Guarantee” means, as to any Person, without duplication, (a) any obligation, contingent or oth   erwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or   other monetary obligation payable or perfonnable by another Person (the “primary obligor”) in any   manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i)   to purchase or pay (or advance or supply flinds for the purchase or payment of) such Indebtedness or oth   er monetary obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring   the obligee in respect of such Indebtedness or monetary other obligation of the payment or performance   of such Indebtedness or other monetary obligation, (iii) to maintain working capital, equity capital or any   other financial statement condition or liquidity or level of income or cash flow of the primary obligor so   as to enable the primary obligor to pay such Indebtedness or other monetary obligation, or (iv) entered   into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other   monetary obligation of the payment or performance thereof or to protect such obligee against loss in re   spect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness   or other monetary obligation of any other Person, whether or not such Indebtedness or other monetary   obligation is assumed by such Person (or any right, contingent or otherwise, of any holder of such Indebt   edness to obtain any such Lien); provided that the term “Guarantee” shall not include endorsements for   collection or deposit, in either case in the ordinary course of business, or customary and reasonable in   demnity obligations in effect on the Closing Date or entered into in connection with any acquisition or   disposition of assets permitted under this Agreement (other than such obligations with respect to Indebt   edness). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determina   ble amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is   made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as   determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a correspond   ing meaning.   “Guaranteed Obligations” has the meaning specified in Section 11.01.   “Guarantor” has the meaning set forth in the defmition of “Collateral and Guarantee Require   ment” and shall include each Restricted Subsidiary that shall have become a Guarantor pursuant to Sec   tion 6.11. For avoidance of doubt, the Borrower in its sole discretion may cause any Restricted Subsidi   ary that is not a Guarantor to Guarantee the Obligations by causing such Restricted Subsidiary to execute   a joinder to this Agreement in form and substance reasonably satisfactory to the Administrative Agent,   and any such Restricted Subsidiary shall be a Guarantor, Loan Party and Subsidiary Guarantor hereunder   for all purposes.   “Guaranty” means, collectively, the guaranty of the Obligations by the Guarantors pursuant to   this Agreement.   “Hazardous Materials” means all materials, pollutants, contaminants, chemicals, compounds,   constituents, substances or wastes, in any form, including petroleum or petroleum distillates, asbestos or   asbestos-containing materials, polychlorinated biphenyls, radon gas, mold, electromagnetic radio fre   quency or microwave emissions that are regulated pursuant to, or which could give rise to liability under,   applicable Environmental Law.   “Hedge Rank” has the meaning set forth in the definition of Term Loan Secured Hedge Agree   ment.   “Holdings” has the meaning specified in the introductory paragraph to this Agreement.   -35-    

 

“Identified Participating Lenders” has the meaning set forth in Section 2.05(a)(v)(C)(3).   “Identified Qualifying Lenders” has the meaning set forth in Section 2.05(a)(v)(D)(3).   “IFRS” means international accounting standards as promulgated by the International Account   ing Standards Board.   “Incremental Amendment” has the meaning set forth in Section 2.14W).   “Incremental Commitments” has the meaning set forth in Section 2.14(a).   “Incremental Facility Closing Date” has the meaning set forth in Section 2.14(d).   “Incremental Lenders” has the meaning set forth in Section 2.14(c).   “Incremental Loan” has the meaning set forth in Section 2.14(b).   “Incremental Loan Request” has the meaning set forth in Section 2.14(a).   “Incremental Term Loan” has the meaning set forth in Section 2.14(b).   “Indebtedness” means, as to any Person at a particular time, without duplication, all of the fol   lowing:   (a) all obligations of such Person for borrowed money and all obligations of such   Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments;   (b) the maximum amount (after giving effect to any prior drawings or reductions   which may have been reimbursed) of all outstanding letters of credit (including standby and   commercial), bankers’ acceptances, bank guaranties, surety bonds, perfonnance bonds and simi   lar instruments issued or created by or for the account of such Person;   (c) net obligations of such Person under any Swap Contract;   (d) all obligations of such Person to pay the deferred purchase price of property or   services (other than (i) trade accounts and accrued expenses payable in the ordinary course of   business, (ii) any earn-out obligation until such obligation is not paid after becoming due and   payable and (iii) accruals for payroll and other liabilities accrued in the ordinary course);   (e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property   owned or being purchased by such Person (including indebtedness arising under conditional sales   or other title retention agreements and mortgage, industrial revenue bond, industrial development   bond and similar financings), whether or not such indebtedness shall have been assumed by such   Person or is limited in recourse;   (f) all Attributable Indebtedness;   (g) all obligations of such Person in respect of Disqualified Equity Interests;   (h) if and to the extent that the foregoing would constitute indebtedness or a liability   in accordance with GAAP; and   -36-    

 

(i) to the extent not otherwise included above, all Guarantees of such Person in re   spect of any of the foregoing.   For all purposes hereof; the Indebtedness of any Person shall (A) include the Indebtedness of any   partnership or joint venture (other than a joint venture that is itself a corporation or limited liability com   pany) in which such Person is a general partner, except to the extent such Person’s liability for such In   debtedness is otherwise limited and only to the extent such Indebtedness would be included in the calcula   tion of Consolidated Total Net Debt and (B) in the case of the Borrower and its Subsidiaries, exclude all   intercompany Indebtedness having a tenn not exceeding 364 days (inclusive of any roll-over or exten   sions of terms) and made in the ordinary course of business. The amount of any net obligation under any   Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date.   The amount of Indebtedness of any Person for purposes of clause (e) shall be deemed to be equal to the   lesser of (i) the aggregate unpaid amount of such Indebtedness and (ii) the fair market value of the proper   ty encumbered thereby as determined by such Person in good faith.   “Indemnified Liabilities” has the meaning set forth in Section 10.05.   “Indemnified Taxes” means, with respect to any Agent or any Lender, all Taxes other than   (i) any Taxes imposed on or measured by its net income, however denominated, and franchise (and simi   lar) Taxes imposed on it in lieu of net income Taxes, imposed by a jurisdiction as a result of such recipi   ent being organized in or having its principal office or applicable lending office in such jurisdiction, or as   a result of any other connection between such Lender or Agent and such jurisdiction other than any con   nections arising solely from executing, delivering, being a party to, engaging in any transactions pursuant   to, performing its obligations under, receiving payments under, and/or enforcing, any Loan Document, (ii)   any Taxes (other than Taxes described in clause (i) above) imposed by a jurisdiction as a result of such   recipient being organized in or having its principal office or applicable lending office in such jurisdiction,   or as a result of any other connection between such Lender or Agent and such jurisdiction other than any   connections arising solely from executing, delivering, being a party to, engaging in any transactions pur   suant to, performing its obligations under, receiving payments under, and/or enforcing, any Loan Docu   ment, (iii) any Taxes attributable to the failure of such Agent or Lender to deliver the documentation re   quired to be delivered pursuant to Section 3.01(d), (iv) any branch profits Taxes imposed by the United   States under Section 884(a) of the Code, or any similar Tax, imposed by any jurisdiction described in   clause (ii), (v) in the case of a Lender (other than an assignee pursuant to a request by Borrower under   Section 3.07(a)), any U.S. federal withholding Tax that is imposed pursuant to any Law in effect at the   time the Lender becomes a party to this Agreement, or designates a new Lending Office, except to the   extent such Lender (or its assignor, if any) was entitled, immediately prior to the time of designation of a   new Lending Office (or assignment), to receive additional amounts or indemnification payments from the   Borrower or Guarantor with respect to such withholding Tax pursuant to Section 3.01, and (vi) any U.S.   federal taxes imposed under FATCA.   “Indemnitees” has the meaning set forth in Section 10.05.   “Independent Financial Advisor” means an accounting, appraisal, investment banking firm or   consultant of nationally recognized standing that is, in the good faith judgment of the Borrower, qualified   to perform the task for which it has been engaged and that is independent of the Borrower and its Affili   ates.   “Information” has the meaning set forth in Section 10.08.   “Insight” means Insight Pharmaceut cals Corporation.   -37-    

 

“Insight Acquisition” means the acciuisit on of the Business (as defined in the Insight Acquisi   tion A eement as in effec on A HI 25 2014 ursuant to the terms of the Insi ht Ac uisition A -   ment’).   “Insight Acquisition Agreement’ means that certain Stock Purchase Agreement, dated as of   A HI 25 2014 as amende su lemented or modified from time to time b and amon Medtech Prod   ucts Inc. Insi ht and the other ies listed o the si ature es thereto.   “Intellectual Property Security Agreement” has the meaning set forth in the Security Agree   ment.   “Intercompany Note” means a promissory note substantially in the form of Exhibit 0.   “Intercreditor Agreements” means the ABL lntercreditor Agreement, the First Lien Jntercredi   tor Agreement, the Junior Lien Intercreditor Agreement and the Replacement Intercreditor Agreement,   collectively, in each case to the extent in effect.   “Interest Payment Date” means, (a) as to any Eurocurrency Rate Loan, the last day of each In   terest Period applicable to such Loan and the Maturity Date of the Facility under which such Loan was   made; provided that if any Interest Period for a Eurocurrency Rate Loan exceeds three months, the re   spective dates that fall every three months after the beginning of such Interest Period shall also be Interest   Payment Dates and (b) as to any Base Rate Loan, the last Business Day of each March, June, September   and December and the Maturity Date of the Facility under which such Loan was made.   “Interest Period” means, as to each Eurocurrency Rate Loan, the period commencing on the date   such Eurocurrency Rate Loan is disbursed or converted to or continued as a Eurocurrency Rate Loan and   ending on the date one, two, three or six months thereafter or, to the extent agreed by each Lender of such   Eurocurrency Rate Loan, nine or twelve months or less than one month thereafter, as selected by the Bor   rower in its Committed Loan Notice; provided that:   (i)any Interest Period that would otherwise end on a day that is not a Business Day shall   be extended to the next succeeding Business Day unless such Business Day falls in another cal   endar month, in which case such Interest Period shall end on the next preceding Business Day;   (ii)any Interest Period (other than an Interest Period having a duration of less than one   month) that begins on the last Business Day of a calendar month (or on a day for which there is   no numerically corresponding day in the calendar month at the end of such Interest Period) shall   end on the last Business Day of the calendar month at the end of such Interest Period; and   (iii) no Interest Period shall extend beyond the applicable Maturity Date.   “Internally Generated Cash” means, with respect to any Person, cash funds of such Person and   its Restricted Subsidiaries not constituting (x) proceeds of the issuance of (or contributions in respect of)   Equity Interests of such Person, (y) proceeds of the incurrence of Indebtedness (other than extensions of   credit under the ABL Facility or any other revolving credit or similar facility) by such Person or any of its   Restricted Subsidiaries or (z) proceeds of Dispositions and Casualty Events.   “Investment” means, as to any Person, any direct or indirect acquisition or investment by such   Person, whether by means of (a) the purchase or other acquisition of Equity Interests or debt or other se   curities of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of In-   -38-    

 

debtedness of, or purchase or other acquisition of any other debt or equity participation or interest in, an   other Person, including any partnership or joint venture interest in such other Person (excluding, in the   case of the Borrower and its Subsidiaries, intercompany loans, advances, or Indebtedness having a term   not exceeding 364 days (inclusive of any roll-over or extensions of terms) and made in the ordinary   course of business) or (c) the purchase or other acquisition (in one transaction or a series of transactions)   of all or substantially all of the property and assets or business of another Person or assets constituting a   business unit, line of business or division of such Person. For purposes of covenant compliance, the   amount of any Investment at any time shall be the amount actually invested (measured at the time made),   without adjustment for subsequent increases or decreases in the value of such Investment, less any Re   turns to the Borrower or a Restricted Subsidiary in respect of such Investment.   “IP Rights” has the meaning set forth in Section 5.15.   “Junior Financing” has the meaning set forth in Section 7.13(a).   “Junior Financing Documentation” means any documentation governing any Junior Financing.   “Junior Lien Intercreditor Agreement” means an intercreditor agreement substantially in the   form of Exhibit J hereto (which agreement in such form or with immaterial changes thereto the Adminis   trative Agent is authorized to enter into) together with any material changes thereto in light of prevailing   market conditions, which material changes shall be posted to the Lenders not less than five (5) Business   Days before execution thereof and, if the Required Lenders shall not have objected to such changes with   in five (5) Business Days after posting, then the Required Lenders shall be deemed to have agreed that the   Administrative Agent’s entry into such intercreditor agreement (with such changes) is reasonable and to   have consented to such intercreditor agreement (with such changes) and to the Administrative Agent’s   execution thereof.   “Latest Maturity Date” means, at any date of determination, the latest Maturity Date applicable   to any Loan or Commitment hereunder at such time, including the latest maturity date of any Refinancing   Term Loan, any Refinancing Term Commitment, any Extended Term Loan or any Incremental Term   Loans, in each case as extended in accordance with this Agreement from time to time.   “Laws” means, collectively, all international, foreign, Federal, state and local statutes, treaties,   rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities,   including the interpretation or administration thereof by any Governmental Authority charged with the   enforcement, interpretation or administration thereof, and all applicable administrative orders, directed   duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authori   ty.   “Lender” has the meaning specified in the introductory paragraph to this Agreement and their re   spective successors and assigns as permitted hereunder, each of which is referred to herein as a “Lender.”   “Lending Office” means, as to any Lender, such office or offices as a Lender may from time to   time notif~’ the Borrower and the Administrative Agent.   “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encum   brance, lien (statutory or other), charge, or preference, priority or other security interest or preferential   arrangement of any kind or nature whatsoever (including any conditional sale or other title retention   agreement, any easement, right of way or other encumbrance on title to Real Property, and any Capital   ized Lease having substantially the same economic effect as any of the foregoing).   -39-    

 

“Limited Originator Recourse” means a letter of credit, cash collateral account or other such   credit enhancement issued in connection with the incurrence of Indebtedness by a Securitization Subsidi   ary under a Qualified Securitization Financing.   “Loan” means an extension of credit under Article II by a Lender to the Borrower in the form of   a Term Loan.   “Loan Documents” means, collectively, (i) this Agreement, (ii) the Term Notes, (iii) the Collat   eral Documents, (iv) any Refinancing Amendment, Incremental Amendment or Extension Amendment,   (v) the Confidential Disclosure Letter and (vi) amendments and joinders to this Agreement.   “Loan Parties” means, collectively, the Borrower and each Guarantor.   “London Banking Day” means any day on which dealings in Dollar deposits are conducted by   and between banks in the London interbank eurodollar market.   “Margin Stock” shall have the meaning assigned to such term in Regulation U of the Board of   Governors of the United States Federal Reserve System, or any successor thereto.   “Master Agreement” has the meaning specified in the definition of “Swap Contract.”   “Material Adverse Effect” means a (a) material adverse effect on the business, operations, assets   or financial condition of the Borrower and its Restricted Subsidiaries, taken as a whole; (b) material ad   verse effect on the ability of the Loan Parties (taken as a whole) to fully and timely perform any of their   payment obligations under any Loan Document to which the Borrower or any of the Loan Parties is a par   ty; or (c) material adverse effect on the rights and remedies available to the Lenders or the Administrative   Agent under any Loan Document.   “Material Domestic Subsidiary” means, at any date of determination, each of the Borrower’s   Domestic Subsidiaries (a) whose total assets at the last day of the most recent Test Period were equal to or   greater than 2.5% of Total Assets at such date or (b) whose gross revenues for such Test Period were   equal to or greater than 2.5% of the consolidated gross revenues of the Borrower and the Restricted Sub   sidiaries for such period, in each case determined in accordance with GAAP; provided that it at any time   and from time to time after the Closing Date, Domestic Subsidiaries that are not Guarantors solely be   cause they do not meet the thresholds set forth in clauses (a) or (b) comprise in the aggregate more than   5.0% of Total Assets as of the end of the most recently ended fiscal quarter of the Borrower for which   financial statements have been delivered pursuant to Section 6.01 or more than 5.0% of the consolidated   gross revenues of the Borrower and the Restricted Subsidiaries for such Test Period, then the Borrower   shall, not later than forty-five (45) days after the date by which financial statements for such quarter or   Test Period are required to be delivered pursuant to this Agreement (or such longer period as the Admin   istrative Agent may agree in its reasonable discretion), (i) designate in writing to the Administrative   Agent one or more of such Domestic Subsidiaries as “Material Domestic Subsidiaries” to the extent re   quired such that the foregoing condition ceases to be true and (ii) comply with the provisions of Sec   tion 6.11 applicable to such Subsidiary.   “Material Foreign Subsidiary” means, at any date of determination, each of the Borrower’s   Foreign Subsidiaries (a) whose total assets at the last day of the most recent Test Period were equal to or   greater than 2.5% of Total Assets at such date or (b) whose gross revenues for such Test Period were   equal to or greater than 2.5% of the consolidated gross revenues of the Borrower and the Restricted Sub   sidiaries for such period, in each case determined in accordance with GAAP; provided that it at any time   -40-    

 

and from time to time after the Closing Date, Foreign Subsidiaries not meeting the thresholds set forth in   clauses (a) or (b) comprise in the aggregate more than 5.000 of Total Assets as of the end of the most re   cently ended fiscal quarter of the Borrower for which financial statements have been delivered pursuant to   Section 6.01 or more than 5.00o of the consolidated gross revenues of the Borrower and the Restricted   Subsidiaries for such Test Period, then the Borrower shall, not later than forty-five (45) days after the date   by which fmancial statements for such quarter or Test Period are required to be delivered pursuant to this   Agreement (or such longer period as the Administrative Agent may agree in its reasonable discretion), (i)   designate in writing to the Administrative Agent one or more of such Foreign Subsidiaries as “Material   Foreign Subsidiaries” to the extent required such that the foregoing condition ceases to be true and (ii)   comply with the provisions of the defmition of “Collateral and Guarantee Requirement.”   “Material Real Property” means any fee-owned real property located in the United States that is   owned by any Loan Party and that has a fair market value in excess of $5,000,000 (at the Closing Date or,   with respect to real property acquired after the Closing Date, at the time of acquisition, in each case, as   reasonably estimated by the Borrower in good faith).   “Material Subsidiary” means any Material Domestic Subsidiary or any Material Foreign Sub   sidiary.   “Maturity Date” means (i) with respect to the Term B-I Loans, the seventh anniversary of the   Closing Date; (ii) with respect to the Term B-2 Loans the seventh annivers of the Amendment No. 2   Effective Date iii with res t to any tranche of Extended Term Loans, the final maturity date as speci   fied in the applicable Term Loan Extension Request accepted by the respective Lender or Lenders, (miv)   with respect to any Other Term Loans, the final maturity date as specified in the applicable Refinancing   Amendment and (wv) with respect to any Incremental Loans, the final maturity date as specified in the   applicable Incremental Amendment; provided that, in each case, if such day is not a Business Day, the   Maturity Date shall be the Business Day immediately succeeding such day.   “Maximum ABL Facility Amount” means ,000,000.   “Maximum Rate” has the meaning specified in Section 10.10.   “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto.   “Mortgage Policies” has the meaning specified in the defmition of “Collateral and Guarantee   Requirement.”   “Mortgaged Properties” has the meaning specified in the definition of “Collateral and Guaran   tee Requirement.”   “Mortgages” means collectively, the deeds of trust, trust deeds, hypothecs and mortgages made   by the Loan Parties in favor or for the benefit of the Administrative Agent on behalf of the Secured Par   ties creating and evidencing a Lien on a Mortgaged Property in form and substance reasonably satisfacto   ryto the Administrative Agent, and any other mortgages executed and delivered pursuant to Sections 6.11   and 6.13, in each case, as the same may from time to time be amended, restated, supplemented or other   wise modified.   “Multiemployer Plan” means any employee benefit plan of the type described in Sec   tion 400l(a)(3) of ERISA, to which a Loan Party, any Restricted Subsidiary or any ERISA Affiliate    

 

makes or is obligated to make contributions, or during the preceding six plan years, has made or been ob   ligated to make contributions.   “Net Proceeds” means:   (a) 100% of the cash proceeds actually received by the Borrower or any of the Re   stricted Subsidiaries (including any cash payments received by way of deferred payment of prin   cipal pursuant to a note or installment receivable or purchase price adjustment receivable or oth   erwise and including casualty insurance settlements and condemnation awards, but in each case   only as and when received) from any Disposition or Casualty Event, net of (i) attorneys’ fees, ac   countants’ fees, investment banking fees, survey costs, title insurance premiums, and related   search and recording charges, transfer taxes, deed or mortgage recording taxes, other customary   expenses and brokerage, consultant and other customary fees actually incurred in connection   therewith, (ii) the principal amount of any Indebtedness that is secured by a Lien (other than a   Lien that ranks pan passu with or subordinated to the Liens securing the Obligations) on the asset   subject to such Disposition or Casualty Event and that is required to be repaid in connection with   such Disposition or Casualty Event (other than Indebtedness under the Loan Documents), togeth   er with any applicable premium, penalty, interest and breakage costs, (Hi) in the case of any Dis   position or Casualty Event by a non-wholly owned Restricted Subsidiary, the pro rata portion of   the Net Proceeds thereof (calculated without regard to this clause (HO) attributable to minority in   terests and not available for distribution to or for the account of the Borrower or a wholly owned   Restricted Subsidiary as a result thereof; (iv) taxes paid or reasonably estimated to be payable as a   result thereof; and (v) the amount of any reasonable reserve established in accordance with   GAAP against any adjustment to the sale price or any liabilities (other than any taxes deducted   pursuant to clause (i) above) (x) related to any of the applicable assets and (y) retained by the   Borrower or any of the Restricted Subsidiaries including, without limitation, pension and other   post-employment benefit liabilities and liabilities related to environmental matters or against any   indemnification obligations (however, the amount of any subsequent reduction of such reserve   (other than in connection with a payment in respect of any such liability) shall be deemed to be   Net Proceeds of such Disposition or Casualty Event occurring on the date of such reduction);   provided that, subject to the restrictions set forth in Section 7.05(j), if the Borrower shall deliver a   certificate of a Responsible Officer of the Borrower to the Administrative Agent promptly follow   ing receipt of any such proceeds setting forth the Borrower’s good faith intention to use any por   tion of such proceeds to acquire, maintain, develop, construct, improve, upgrade or repair assets   useful in the business of the Borrower or its Restricted Subsidiaries or to make Permitted Acqui   sitions or any acquisition of all or substantially all the assets of; or all the Equity Interests (other   than directors’ qualifying shares) in, a Person or division or line of business of a Person (or any   subsequent investment made in a Person, division or line of business previously acquired), in   each case within 12 months of such receipt, such portion of such proceeds shall not constitute Net   Proceeds except to the extent not, within 12 months of such receipt, so used or contractually   committed to be so used (it being understood that if any portion of such proceeds are not so used   within such 12 month period but within such 12-month period are contractually committed to be   used, then upon the termination of such contract or if such Net Proceeds are not so used within   the later of such 12-month period and 180 days from the entry into such contractual commitment,   such remaining portion shall constitute Net Proceeds as of the date of such termination or expiry   without giving effect to this proviso);provided,further, that no proceeds realized in a single   transaction or series of related transactions shall constitute Net Proceeds unless (x) such proceeds   shall exceed $4-0l5,000,000 or (y) the aggregate net proceeds exceeds $2030,000,000 in any fis   cal year (and thereafier only net cash proceeds in excess of such amount shall constitute Net Pro   ceeds under this clause (a)), and   -42-    

 

(b) 10000 of the cash proceeds from the incurrence, issuance or sale by the Borrower   or any of the Restricted Subsidiaries of any Indebtedness, net of all taxes paid or reasonably esti   mated to be payable as a result thereof and fees (including investment banking fees and dis   counts), commissions, costs and other expenses, in each case incurred in connection with such is   suance or sale.   For purposes of calculating the amount of Net Proceeds, fees, commissions and other costs and   expenses payable to the Borrower shall be disregarded.   “Nominal Shares” means (a) for any Foreign Subsidiary, nominal issuances of Equity Interests   in an aggregate amount not to exceed 0.5° 0 of the Equity Interests of such Foreign Subsidiary on a fully-   diluted basis and (b) in any case, director’s qualifying shares, in each case to the extent such issuances are   required by applicable Law.   “Non-Consenting Lender” has the meaning set forth in Section 3.07(d).   “Non-Exchanged Term B Loan” means each Term B Loan (or portion thereof) other than an   Exchanged Term B Loan. The aggregate principal amount of Non-Exchanged Term B Loans on the   Amendment No. 1 Effective Date is $65,229,364.97.   “Notice of Intent to Cure” has the meaning set forth in Section 8.04.   “Obligations” means all (x) advances to, and debts, liabilities, obligations, covenants and duties   of, any Loan Party and its Restricted Subsidiaries arising under any Loan Document or otherwise with   respect to any Loan, whether direct or indirect (including those acquired by assumption), absolute or con   tingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue   after the commencement by or against any Loan Party or Restricted Subsidiary of any proceeding under   any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such   interest and fees are allowed claims in such proceeding and (y) obligations of any Subsidiary arising un   der any Term Loan Secured Hedge Agreement. Without limiting the generality of the foregoing, the Ob   ligations of the Loan Parties under the Loan Documents (and of their Restricted Subsidiaries to the extent   they have obligations under the Loan Documents) include (a) the obligation (including guarantee obliga   tions) to pay principal, interest, reimbursement obligations, charges, expenses, fees, Attorney Costs, in   demnities and other amounts payable by any Loan Party under any Loan Document and (b) the obligation   of any Loan Party to reimburse any amount in respect of any of the foregoing that any Lender, in its sole   discretion, may elect to pay or advance on behalf of such Loan Party. Notwithstandin an hin herein to   the contrary, no circumstances shall Excluded Swap Obligations constitute Obligations.   “Offered Amount” has the meaning set forth in Section 2.05(a)(v)(D)(l).   “Offered Discount” has the meaning set forth in Section 2.05(a)(v)(D)(1).   “OLD” means original issue discount.   “Organization Documents” means, (a) with respect to any corporation, the certificate or articles   of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any   non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of for   mation or organization and operating agreement; and (c) with respect to any partnership, joint venture,   trust or other form of business entity, the partnership, joint venture or other applicable agreement of for   mation or organization and any agreement, instrument, filing or notice with respect thereto filed in con-   -43-    

 

nection with its formation or organization with the applicable Governmental Authority in the jurisdiction   of its formation or organization and, if applicable, any certificate or articles of formation or organization   of such entity.   “Other Taxes” has the meaning specified in Section 3.01(b).   “Other Term Loan Commitments” shall mean one or more Classes of term loan commitments   hereunder that result from a Refinancing Amendment.   “Other Term Loans” shall mean one or more Classes of Term Loans that result from a Refi   nancing Amendment.   “Outstanding Amount” means the outstanding principal amount of Term Loans after giving ef   fect to any borrowings and prepayments or repayments of Term Loans occurring on such date.   “Overnight Rate” means, for any day, the greater of the Federal Funds Rate and an overnight   rate determined by the Administrative Agent in accordance with banking industry rules on interbank   compensation.   “Pan Passu Obligations” has the meaning set forth in the Security Agreement.   “Participant” has the meaning specified in Section 10.07(e).   “Participant Register” has the meaning specified in Section 10.07(e).   “Participating Lender” has the meaning set forth in Section 2.05(a)(v)(C)(2).   “PBGC” means the Pension Benefit Guaranty Corporation.   “Pension Plan” means any “employee pension benefit plan” (as such term is defined in Sec   tion 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is spon   sored or maintained by any Loan Party or any ERISA Affiliate or to which any Loan Party or any ERISA   Affiliate contributes or has an obligation to contribute, or in the case of a multiple employer or other plan   described in Section 4064(a) of ERISA, has made contributions at any time during the immediately pre   ceding five (5) plan years.   “Perfection Certificate” means a certificate in the form of Exhibit II to the Security Agreement   or any other form reasonably approved by the Administrative Agent, as the same shall be supplemented   from time to time.   “Permitted Acquisition” has the meaning set forth in Section 7.02(i).   “Permitted First Priority Refinancing Debt” shall mean any secured Indebtedness (including   any Registered Equivalent Notes) incurred by the Borrower in the form of one or more series of senior   secured notes or loans; provided that (i) such Indebtedness is secured by the Collateral on a pan passu   basis (but without regard to the control of remedies) with the Obligations and is not secured by any prop   erty or assets of Holdings, the Borrower or any Restricted Subsidiary other than the Collateral,   (ii) notwithstanding anything contained in Section 7.03(c), such Indebtedness is not at any time guaran   teed by any Subsidiaries other than Subsidiaries that are Guarantors, (iii) such Indebtedness does not ma   ture or have scheduled amortization or payments of principal (other than customary offers to repurchase   -44-    

 

upon a change of control, asset sale or event of loss and a customary acceleration right after an event of   default) prior to the date that is the Latest Maturity Date of any Loan outstanding at the time such Indebt   edness is incurred or issued, (iv) the security agreements relating to such Indebtedness are substantially   the same as or more favorable to the Loan Parties than the Collateral Documents (with such differences as   are reasonably satisfactory to the Administrative Agent) and (v) a Senior Representative acting on behalf   of the holders of such Indebtedness shall have become party to or otherwise subject to the provisions of   (I) the ABL Intercreditor Agreement and (II) a First Lien Intercreditor Agreement; provided that if such   Indebtedness is the initial Permitted First Priority Refmancing Debt incurred by the Borrower, then the   Borrower, Holdings, the Subsidiary Guarantors, the Administrative Agent and the Senior Representative   for such Indebtedness shall have executed and delivered a First Lien lntercreditor Agreement. Permitted   First Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.   “Permitted Junior Priority Refinancing Debt” means secured Indebtedness (including any   Registered Equivalent Notes) incurred by the Borrower in the form of one or more series of second lien   (or other junior lien) secured notes or second lien (or other junior lien) secured loans; provided that (i)   such Indebtedness is secured by the Collateral on a second priority (or other junior priority) basis to the   liens securing the Obligations and the obligations in respect of any Permitted First Priority Refinancing   Debt and is not secured by any property or assets of Holdings, the Borrower or any Restricted Subsidiary   other than the Collateral, (ii) such Indebtedness may be secured by a Lien on the Collateral that is junior   to the Liens securing the Obligations and the obligations in respect of any Permitted First Priority Refi   nancing Debt, notwithstanding any provision to the contrary contained in the definition of “Credit   Agreement Refinancing Indebtedness,” (iii) a Senior Representative acting on behalf of the holders of   such Indebtedness shall have become party to or otherwise subject to the provisions of (I) the ABL Inter-   creditor Agreement and (II) a Junior Lien Intercreditor Agreement; provided that if such Indebtedness is   the initial Permitted Junior Priority Refinancing Debt incurred by the Borrower, then Holdings, the Bor   rower, the Subsidiary Guarantors, the Administrative Agent and the Senior Representative for such In   debtedness shall have executed and delivered a Junior Lien Intercreditor Agreement and (iv) such In   debtedness meets the Permitted Other Debt Conditions. Permitted Junior Priority Refinancing Debt will   include any Registered Equivalent Notes issued in exchange therefor.   “Permitted Other Debt Conditions” means that such applicable debt (i) does not mature or have   scheduled amortization payments of principal or payments of principal and is not subject to mandatory   redemption, repurchase, prepayment or sinking fund obligations (except customary asset sale or change of   control provisions that provide for the prior repayment in full of the Loans and all other Obligations), in   each case prior to the Latest Maturity Date at the time such Indebtedness is incurred, (ii) notwithstanding   anything contained in Section 7.03(c), is not at any time guaranteed by any Subsidiaries other than Sub   sidiaries that are Guarantors, and (iii) to the extent secured, the security agreements relating to such In   debtedness are substantially the same as or more favorable to the Loan Parties than the Collateral Docu   ments (with such differences as are reasonably satisfactory to the Administrative Agent).   “Permitted Ratio Debt” means Indebtedness of the Borrower or any Restricted Subsidiary, pro   vided that immediately after giving Pro Forma Effect thereto and to the use of the proceeds thereof, (i) no   Event of Default shall be continuing or result therefrom, (ii) the Borrower and the Restricted Subsidiaries   will be in Pro Forma Compliance with the covenants set forth in Section 7.11, (iii) the Total Leverage   Ratio is no greater than 5.2~85: 1.00, (iv) if such Indebtedness is secured, the aggregate principal amount   of such Indebtedness incurred after the Amendment No 2 Effective Date shall not exceed $2 0,000,000   minus the aggregate amount of all Incremental Term Loans incurred pursuant to Section 2.1 4(d)(v)(A)   minus the aggregate amount of incremental commitments that shall have become effective under the ABL   Facility after the Amendment No. 2 Effective Date, (v) such Indebtedness does not mature prior to   the date that is ninety-one (91) days after the Latest Maturity Date at the time such Indebtedness is in-   -45-    

 

curred, (vi) if such Indebtedness is incurred or guaranteed on a secured basis by a Loan Party, such In   debtedness shall be in the form of debt securities or Indebtedness that is not a credit facility that could   have been incurred as an Incremental Term Loan, (vii) such Indebtedness shall have terms and conditions   (other than pricing, rate floors, discounts, fees, premiums and optional prepayment or redemption provi   sions) that are not materially less favorable (when taken as a whole) to the Borrower than the terms and   conditions of the Loan Documents (when taken as a whole), (viii) if such Indebtedness is incurred or   guaranteed on a secured basis by a Loan Party, such Indebtedness is subject to the Jntercreditor Agree   ments referred to in Section 7.0l(cc) and (ix) any such Indebtedness incurred or guaranteed by a Restrict   ed Subsidiary that is not a Loan Party, together with any Indebtedness incurred or guaranteed by a Re   stricted Subsidiary that is not a Loan Party pursuant to Section 7.03(g), does not exceed in the aggregate   at any time outstanding the greater of $3&50,000,000 and 2.00% of Total Assets, in each case determined   at the time of incurrence; provided that a certificate of the Borrower as to the satisfaction of the conditions   described in clause (vii) above delivered at least five (5) Business Days prior to the incurrence of such   Indebtedness, together with a reasonably detailed description of the material terms and conditions of such   Indebtedness or drafis of documentation relating thereto, stating that the Borrower has determined in good   faith that such terms and conditions satis~’ the foregoing requirements of such clause (vii), shall be con   clusive unless the Administrative Agent notifies the Borrower within such five (5) Business Day period   that it disagrees with such determination (including a description of the basis upon which it disagrees).   “Permitted Refinancing” means, with respect to any Person, any modification, refinancing, re   funding, renewal, replacement or extension of any Indebtedness of such Person; provided that (a) the   principal amount (or accreted value, if applicable) thereof does not exceed the principal amount (or ac   creted value, if applicable) of the Indebtedness so modified, refinanced, refunded, renewed, replaced or   extended except by an amount equal to unpaid accrued interest and premium thereon plus other amounts   owing or paid related to such Indebtedness, and fees and expenses reasonably incurred, in connection   with such modification, refmancing, refunding, renewal, replacement or extension and by an amount   equal to any existing commitments unutilized thereunder, (b) other than with respect to a Permitted Refi   nancing in respect of Indebtedness permitted pursuant to Section 7.03(e), such modification, refmancing,   refunding, renewal, replacement or extension has a final maturity date equal to or later than the final ma   turity date of; and has a Weighted Average Life to Maturity equal to or greater than the Weighted Aver   age Life to Maturity of; the Indebtedness being modified, refinanced, refunded, renewed, replaced or ex   tended, (c) other than with respect to a Permitted Refinancing in respect of Indebtedness permitted pursu   ant to Sections 7.03(e) or (f), at the time thereof; no Event of Default shall have occurred and be continu   ing, (d) if such Indebtedness being modified, refinanced, refunded, renewed, replaced or extended is sub   ordinated in right of payment to the Obligations, to the extent such Indebtedness being modified, re   financed, refunded, renewed, replaced or extended is subordinated in right of payment to the Obligations,   such modification, refinancing, refunding, renewal, replacement or extension is subordinated in right of   payment to the Obligations on terms at least as favorable to the Lenders as those contained in the docu   mentation governing the Indebtedness being modified, refinanced, refunded, renewed, replaced or ex   tended and (e) notwithstanding anything contained in Section 7.03(c), such modification, refinancing,   refunding, renewal, replacement or extension is incurred by one or more Persons who is an obligor of the   Indebtedness being modified, refinanced, refunded, renewed, replaced or extended.   “Permitted Unsecured Refinancing Debt” means unsecured Indebtedness (including any Regis   tered Equivalent Notes) incurred by the Borrower in the form of one or more series of senior unsecured   notes or loans; provided that (i) such Indebtedness constitutes Credit Agreement Refinancing Indebted   ness and (ii) meets the Permitted Other Debt Conditions.   “Person” means any natural person, corporation, limited liability company, trust, joint venture,   association, company, partnership, Governmental Authority or other entity.   -46-    

 

“Plan” means any “employee benefit plan” (as such term is defined in Section 3(3) of ERISA) es   tablished or maintained by any Loan Party or any Restricted Subsidiary or, with respect to any such plan   that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate.   “Platform” has the meaning set forth in Section 6.0 1(d).   “Pledged Debt” has the meaning set forth in the Security Agreement.   “Pledged Equity” has the meaning set forth in the Security Agreement.   “Proceeding” has the meaning set forth in Section 10.05.   “Proceeds” has the meaning set forth in Section 9-1 02(a)(64) of the UCC.   “Pro Forma Balance Sheet” has the meaning set forth in Section 5.05(c).   “Pro Forma Basis” and “Pro Forma Effect” means, with respect to compliance with any test or   covenant or calculation of any ratio hereunder, the determination or calculation of such test, covenant or   ratio (including in connection with Specified Transactions) in accordance with Section 1.09.   “Pro Forma Compliance” means, with respect to the covenants in Section 7.11, compliance on a   Pro Forma Basis with such covenants in accordance with Section 1.09.   “Pro Forma Financial Statements” has the meaning set forth in Section 5.05(c).   “Pro Rata Share” means, with respect to each Lender, at any time a fraction (expressed as a per   centage, carried out to the ninth decimal place), the numerator of which is the amount of the Commit   ments and, if applicable and without duplication, Term Loans of such Lender under the applicable Facili   ty or Facilities at such time and the denominator of which is the amount of the Aggregate Commitments   under the applicable Facility or Facilities and, if applicable and without duplication, Term Loans under   the applicable Facility or Facilities at such time.   “Projections” has the meaning set forth in Section 6.01(c).   “Public Lender” has the meaning set forth in Section 6.01(d).   ualified ECP Guarantor” means in res ed of an Swa Oh i aton each Loan Part with   total assets exceeding $lO.000,000 or that Qualifies at the time the relevant Guarantee or grant of the rele   van securit interest becomes effective with re t to such Swa Obh aflon or such other rson as   cons itutes an “eligible contract participant” under the Commodity Exchange Act or any regu ations   romul ated thereunder and can cause another rson to uali as an “eli ible contract artici ant” at   s ch time under la 18 A v I of the Commodit Exchan e Act   “Qualified Equity Interests” means any Equity Interests that are not Disqualified Equity Inter   ests.   “Qualified Securitization Financing” means any Securitization Financing of a Securitization   Subsidiary that meets the following conditions: (a) such Qualified Securitization Financing (including   financing terms, covenants, termination events and other provisions) is in the aggregate economically fair   and reasonable to the Borrower and the Securitization Subsidiary, (b) all sales and/or contributions of Se-   -47-    

 

curitization Assets and related assets to the Securitization Subsidiary are made at fair market value and (c)   the financing terms, covenants, termination events and other provisions thereof, including any Standard   Securitization Undertakings, shall be market terms. The grant of a security interest in any Securitization   Assets of the Borrower or any of the Restricted Subsidiaries (other than a Securitization Subsidiary) to   secure Indebtedness under this Agreement prior to engaging in any Securitization Financing shall not be   deemed a Qualified Securitization Financing.   “Qualifying Lender” has the meaning set forth in Section 2.05(a)(v)(D)(3).   “Real Property” means, collectively, all right, title and interest (including any leasehold, mineral   or other estate) in and to any and all parcels of or interests in real property owned, leased or otherwise   held by any Person, whether by lease, license or other means, together with, in each case, all easements,   hereditaments and appurtenances relating thereto, all improvements and appurtenant fixtures and equip   ment, all general intangibles and contract rights and other property and rights incidental to the ownership,   lease or operation thereof.   “Refinanced Debt” has the meaning set forth in the definition of Credit Agreement Refinancing   Indebtedness.   “Refinanced Term Loans” has the meaning set forth in Section 10.01.   “Refinancing” means the prepayment of all indebtedness under that certain Credit Agreement,   dated as of March 24, 2010 (as amended, restated, supplemented, or modified from time to time prior to   the Closing Date), among the Borrower, Holdings, Bank of America, N.A., as administrative agent and   collateral agent, the lenders party thereto, and the other agents party thereto, shall have been paid in hill,   and all commitments, security interests and guaranties in connection therewith shall have been terminated   and released.   “Refinancing Amendment” means an amendment to this Agreement executed by each of (a) the   Borrower, (b) the Administrative Agent, (c) each Additional Refmancing Lender and (d) each Lender that   agrees to provide any portion of Refinancing Term Loans in accordance with Section 2.15.   “Refinancing Series” means all Refinancing Term Loans or Refinancing Term Commitments   that are established pursuant to the same Refmancing Amendment (or any subsequent Refinancing   Amendment to the extent such Refmancing Amendment expressly provides that the Refinancing Term   Loans or Refinancing Term Commitments provided for therein are intended to be a part of any previously   established Refinancing Series) and that provide for the same Effective Yield and amortization schedule.   “Refinancing Term Commitments” means one or more term loan commitments hereunder that   hind Refinancing Term Loans of the applicable Refinancing Series hereunder pursuant to a Refinancing   Amendment.   “Refinancing Term Loans” means one or more term loans hereunder that result from a Refi   nancing Amendment.   “Register” has the meaning set forth in Section 10.07(d).   “Registered Equivalent Notes” means, with respect to any notes originally issued in an offering   pursuant to Rule l44A under the Securities Act or other private placement transaction under the Securi   -48-    

 

ties Act of 1933, substantially identical notes (having the same guarantees) issued in a dollar-for-dollar   exchange therefor pursuant to an exchange offer registered with the SEC.   “Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners,   directors, officers, employees, agents, trustees and advisors of such Person and of such Person’s Mliii   ates.   “Release” means any spilling, leaking, seepage, pumping, pouring, emitting, emptying, discharg   ing, injecting, escaping, leaching, dumping, disposing, depositing, dispersing or migrating in, into, onto or   through the Environment or from or through any facility, property or equipment.   “Replacement Intercreditor Agreement” means an intercreditor agreement between the Ad   ministrative Agent, the ABL Administrative Agent and the Loan Parties, in form and substance reasona   bly satisfactory to the Administrative Agent, entered into at the option of the Borrower which, in the   event of a refinancing of the initial ABL Credit Agreement, replaces the ABL Intercreditor Agreement in   its entirety and pursuant to which the Liens on the Collateral securing the Obligations are not subordinat   ed to any other Liens on any portion of the Collateral.   “Replacement Term Loans” has the meaning specified in Section 10.01.   “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA or the regu   lations issued thereunder, other than events for which the otherwise applicable notice period has been   waived by regulation or otherwise by the PBGC.   “Repricing Transaction” means the prepayment, refinancing, substitution or replacement of all   or a portion of the Term B4Z Loans with the incurrence by Holdings, the Borrower or any Subsidiary of   any new or replacement tranche of term loans having an effective yield (with the comparative   determinations to be made by the Administrative Agent consistent with generally accepted financial   practices, after giving effect to, among other factors, margin, interest rate floors, upfront or similar fees or   original issue discount shared with all providers of such financing, but excluding the effect of any   arrangement, structuring, syndication or other fees payable in connection therewith that are not shared   with all providers of such fmancing, and without taking into account any fluctuations in the Eurocurrency   Rate (other than due to the last proviso of the definition thereof)) that is less than the effective yield (as   determined by the Administrative Agent on the same basis) of such Term B 1 Loano2 so repaid,   refinanced, substituted or replaced (excluding any new or replacement term loans incurred in connection   with a Change of Control), including without limitation, as may be effected through any amendment to   this Agreement relating to the interest rate for, or weighted average yield of; such Term B4~ Loans or the   incurrence of any Replacement Term Loans.   “Request for Credit Extension” means a Committed Loan Notice.   “Required Class Lenders” means, with respect to any Class on any date of determination, Lend   ers having more than 50% of the sum of(i) the outstanding Loans under such Class and (ii) the aggregate   unused Commitments under such Facility.   “Required Facility Lenders” mean, as of any date of determination, with respect to any Facility,   Lenders having more than 50% of the sum of (a) the Total Outstandings under such Facility and (b) the   aggregate unused Conrmitments under such Facility.   -49-    

 

“Required Lenders” means, as of any date of determination, Lenders having more than 50% of   the sum of the (a) Total Outstandings and (b) aggregate unused Term Commitments.   “Responsible Officer” means the chief executive officer, president, vice president, chief finan   cial officer, chief administrative officer, secretary or assistant secretary, treasurer or assistant treasurer or   other similar officer of a Loan Party. Any document delivered hereunder that is signed by a Responsible   Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corpo   rate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be   conclusively presumed to have acted on behalf of such Loan Party.   “Restricted Cash” means cash and Cash Equivalents held by Restricted Subsidiaries that is con   tractually restricted from being distributed to the Borrower.   “Restricted Payment” means any dividend or other distribution (whether in cash, securities or   other property) with respect to any Equity Interest of the Borrower or any Restricted Subsidiary, or any   payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on   account of the purchase, redemption, retirement, defeasance, acquisition, cancellation or termination of   any such Equity Interest, or on account of any return of capital to the Borrower’s or a Restricted Subsidi   ary’ s stockholders, partners or members (or the equivalent Persons thereof).   “Restricted Subsidiary” means any Subsidiary of Holdings other than an Unrestricted Subsidi   ary.   “Retained Percentage” means, with respect to any Excess Cash Flow Period (a) 100% minus   (b) the Applicable ECF Percentage with respect to such Excess Cash Flow Period.   “Returns” means, with respect to any Investment, any dividends, distributions, interest, fees,   premium, return of capital, repayment of principal, income, profits (from a Disposition or otherwise) and   other amounts received or realized in respect of such Investment.   means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies,   Inc., and any successor thereto.   “Same Day Funds” means immediately available funds.   “SEC” means the Securities and Exchange Commission, or any Governmental Authority suc   ceeding to any of its principal functions.   “Secured Leverage Ratio” means, with respect to any Test Period, the ratio of (a) Consolidated   Secured Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Peri   od.   “Secured Parties” means, collectively, the Administrative Agent, the Lenders, the Hedge Banks   and each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to Sec   tion 9.05.   “Securities Act” means the Securities Act of 1933, as amended.   “Securitization Assets” means (a) the accounts receivable subject to a Qualified Securitization   Financing and the proceeds thereof and (b) contract rights, lockbox accounts and records with respect to   -50-    

 

such accounts receivable and any other assets customarily transferred together with accounts receivable in   a securitization fmancing.   “Securitization Fees” means distributions or payments made directly or by means of discounts   with respect to any participation interest issued or sold in connection with, and other fees and expenses   (including reasonable fees and expenses of legal counsel) paid to a Person that is not a Securitization Sub   sidiary in connection with any Qualified Securitization Financing.   “Securitization Financing” means any transaction or series of transactions that may be entered   into by the Borrower or any of its Subsidiaries pursuant to which the Borrower or any of its Subsidiaries   may sell, convey or otherwise transfer to (a) a Securitization Subsidiary (in the case of a transfer by the   Borrower or any of its Subsidiaries) or (b) any other Person (in the case of a transfer by a Securitization   Subsidiary), or may grant a security interest in, any Securitization Assets of the Borrower or any of its   Subsidiaries, and any assets related thereto, including all collateral securing such Securitization Assets, all   contracts and all guarantees or other obligations in respect of such Securitization Assets, proceeds of such   Securitization Assets and other assets that are customarily transferred or in respect of which security in   terests are customarily granted in connection with asset securitization transactions involving Securitiza   tion Assets.   “Securitization Repurchase Obligation” means any obligation of a seller of Securitization As   sets in a Qualified Securitization Financing to repurchase Securitization Assets arising as a result of a   breach of a Standard Securitization Undertaking, including as a result of a receivable or portion thereof   becoming subject to any asserted defense, dispute, offset or counterclaim of any kind as a result of any   action taken by, any failure to take action by or any other event relating to the seller.   “Securitization Subsidiary” means a wholly owned Subsidiary of the Borrower (or another Per   son formed for the purposes of engaging in a Qualified Securitization Financing in which the Borrower or   any Subsidiary of the Borrower makes an Investment and to which the Borrower or any Subsidiary of the   Borrower transfers Securitization Assets and related assets) that engages in no activities other than in   connection with the financing of Securitization Assets of the Borrower or its Subsidiaries, all proceeds   thereof and all rights (contingent and other), collateral and other assets relating thereto, and any business   or activities incidental or related to such business, and which is designated by the board of directors of the   Borrower or such other Person (as provided below) as a Securitization Subsidiary and (a) no portion of   the Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by Hold   ings, the Borrower or any other Subsidiary of the Borrower, other than another Securitization Subsidiary   (excluding guarantees of obligations (other than the principal of, and interest on, Indebtedness) pursuant   to Standard Securitization Undertakings or Limited Originator Recourse), (ii) is recourse to or obligates   Holdings, the Borrower or any other Subsidiary of the Borrower, other than another Securitization Sub   sidiary, in any way other than pursuant to Standard Securitization Undertakings or Limited Originator   Recourse or (iii) subjects any property or asset of Holdings, the Borrower or any other Subsidiary of the   Borrower, other than another Securitization Subsidiary, directly or indirectly, contingently or otherwise,   to the satisfaction thereot other than pursuant to Standard Securitization Undertakings, (b) with which   none of Holdings, the Borrower or any other Subsidiary of the Borrower, other than another Securitiza   tion Subsidiary, has any material contract, agreement, arrangement or understanding other than on terms   which the Borrower reasonably believes to be no less favorable to Holdings, the Borrower or such Sub   sidiary than those that might be obtained at the time from Persons that are not Affiliates of the Borrower   and (c) to which none of Holdings, the Borrower or any other Subsidiary of the Borrower, other than an   other Securitization Subsidiary, has any obligation to maintain or preserve such entity’s financial condi   tion or cause such entity to achieve certain levels of operating results. Any such designation by the board   of directors of the Borrower or such other Person shall be evidenced to the Administrative Agent by de   -51-    

 

livery to the Administrative Agent of a certified copy of the resolution of the board of directors of the   Borrower or such other Person giving effect to such designation and a certificate executed by a Responsi   ble Officer certi~ing that such designation complied with the foregoing conditions.   “Security Agreement” means a Security Agreement substantially in the form of Exhibit F.   “Security Agreement Supplement” has the meaning specified in the Security Agreement.   “Seller” has the meaning specified in the preliminary statements to this Agreement.   “Senior Notes” means the $250,000,000 in aggregate principal amount of the Borrower’s 8.125%   senior unsecured notes due 2020 and any Registered Equivalent Notes having substantially identical   terms and issued pursuant to the Senior Notes Indenture in exchange for the initial, unregistered senior   unsecured notes.   “Senior Notes Indenture” means the Indenture for the Senior Notes, dated as of January 31,   2012, between the Borrower and U.S. Bank, National Association, as trustee, as the same may be amend   ed, modified, supplemented, replace or refinanced to the extent not prohibited by this Agreement.   “Senior Representative” means, with respect to any series of Permitted First Priority Refinanc   ing Debt or Pennitted Junior Priority Refinancing Debt, the trustee, administrative agent, collateral agent,   security agent or similar agent under the indenture or agreement pursuant to which such Indebtedness is   issued, incurred or otherwise obtained, as the case may be, and each of their successors in such capacities.   “Solicited Discount Proration” has the meaning set forth in Section 2.05(a)(v)(D)(3).   “Solicited Discounted Prepayment Amount” has the meaning set forth in Sec   tion 2.05(a)(v)(D)(1).   “Solicited Discounted Prepayment Notice” means a written notice of the Borrower of Solicited   Discounted Prepayment Offers made pursuant to Section 2.05(a)(v)(D) substantially in the form of Exhib   it E-6.   “Solicited Discounted Prepayment Offer” means the irrevocable written offer by each Lender,   substantially in the form of Exhibit E-7, submitted following the Administrative Agent’s receipt of a So   licited Discounted Prepayment Notice.   “Solicited Discounted Prepayment Response Date” has the meaning set forth in Sec   tion 2.05(a)(v)(D)(l).   “Solvent” and “Solvency” mean, with respect to any Person on any date of determination, that on   such date (a) the fair value of the assets of such Person and its Subsidiaries, on a consolidated basis, ex   ceeds, on a consolidated basis, their debts and liabilities, subordinated, contingent or otherwise, (b) the   present fair saleable value of the property of such Person and its Subsidiaries, on a consolidated basis, is   greater than the amount that will be required to pay the probable liability, on a consolidated basis, of their   debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities be   come absolute and matured, (c) such Person and its Subsidiaries, on a consolidated basis, are able to pay   their debts and liabilities, subordinated, contingent or otherwise, as such liabilities become absolute and   matured and (d) such Person and its Subsidiaries, on a consolidated basis, are not engaged in, and are not   about to engage in, business for which they have unreasonably small capital. The amount of any contin   -52-    

 

gent liability at any time shall be computed as the amount that would reasonably be expected to become   an actual and matured liability.   “SYC” has the meaning specified in Section 10.07(h).   “Specified Discount” has the meaning set forth in Section 2.05(a)(v)(B)(1).   “Specified Discount Prepayment Amount” has the meaning set forth in Sec   tion 2.05(a)(v)(B)(1).   “Specified Discount Prepayment Notice” means a written notice of the Borrower Offer of Spec   ified Discount Prepayment made pursuant to Section 2.05(a)(v)(B) substantially in the form of Exhib   it E-8.   “Specified Discount Prepayment Response” means the irrevocable written response by each   Lender, substantially in the form of Exhibit E-9 to a Specified Discount Prepayment Notice.   “Specified Discount Prepayment Response Date” has the meaning set forth in Sec   tion 2.05(a)(v)(B)(1).   “Specified Discount Proration” has the meaning set forth in Section 2.05(a)(v)(B)(3).   “Specified Junior Financing Obligations” means any obligations in respect of any Junior Fi   nancing in respect of which any Loan Party is an obligor in a principal amount in excess of the Threshold   Amount.   “Specified Loan Party” means any Loan Party that is not an “e ipible contract participant” under   e Commodit Exchan e Act determined nor to yin effect to Section 11.11 hereo   “Specified Representations” means those representations and warranties made by the Borrower   in Sections 5.0 1(a), 5.01(b)(ii), 5.02(a), 5.02(b)(i), 5.02(b)(iii), 5.03 (to the extent related to consents or   approvals under Organization Documents of any Loan Party or under any material Law), 5.04, 5.12, 5.16,   5.17, 5.18 and 5.19 (subject, in the case of Section 5.19, to the proviso at the end of Section 4.01(a)).   “Specified Transaction” means any Investment that results in a Person becoming a Restricted   Subsidiary, any designation of a Subsidiary as a Restricted Subsidiary or an Unrestricted Subsidiary, any   Permitted Acquisition or any Disposition that results in a Restricted Subsidiary ceasing to be a Subsidiary   of the Borrower, any Investment constituting an acquisition of assets constituting a business unit, line of   business or division of; or all or substantially all of the Equity Interests of; another Person or any Disposi   tion of a business unit, line of business or division of the Borrower or a Restricted Subsidiary, in each   case whether by merger, consolidation, amalgamation or otherwise, or any incurrence or repayment of   Indebtedness (other than Indebtedness incurred or repaid under any revolving credit facility or line of   credit), Restricted Payment or Incremental Term Loan that by the terms of this Agreement requires such   test to be calculated on a “Pro Forma Basis” or after giving “Pro Forma Effect.”   “Split Brands” means the Debrox and Gly-Oxide brands.   “Split Brands Acquisition” has the meaning specified in the preliminary statements to this   Agreement.    

 

“Split Brands Acquisition Agreement” has the meaning specified in the preliminary statements   to this Agreement.   “Split Brands Cutoff Date” has the meaning specified in Section 2.05(b)(viii).   “Standard Securitization Undertakings” means representations, warranties, covenants and in   demnities entered into by the Borrower or any Subsidiary of the Borrower that are customary in a Securit   ization Financing.   “Submitted Amount” has the meaning set forth in Section 2.05(a)(v)(C)(l).   “Submitted Discount” has the meaning set forth in Section 2.05(a)(v)(C)(l).   “Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability com   pany or other business entity of which (i) a majority of the shares of securities or other interests having   ordinary voting power for the election of directors or other governing body (other than securities or inter   ests having such power only by reason of the happening of a contingency) are at the time beneficially   owned, (ii) more than half of the issued share capital is at the time beneficially owned or (iii) the man   agement of which is otherwise controlled, directly or indirectly, through one or more intermediaries, or   both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiar   ies” shall refer to a Subsidiary or Subsidiaries of the Borrower.   “Subsidiary Guarantor” means any Guarantor other than Holdings.   “Successor Company” has the meaning specified in Section 7.04(d).   “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit derivative   transactions, forward rate transactions, commodity swaps, commodity options, forward commodity con   tracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or for   ward bond or forward bond price or forward bond index transactions, interest rate options, forward for   eign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap trans   actions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar trans   actions or any combination of any of the foregoing (including any options to enter into any of the forego   ing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any   and all transactions of any kind, and the related confirmations, which are subject to the terms and condi   tions of; or governed by, any form of master agreement published by the International Swaps and Deriva   tives Association, Inc., any International Foreign Exchange Master Agreement, or any other master   agreement (any such master agreement, together with any related schedules, a “Master Agreement”),   including any such obligations or liabilities under any Master Agreement.   “Swa Obli ations” means with res t to an Guarantor an ob i ation to a or erform un   der any agreement, contract or transaction that constitutes a “swap” within the meaning of Section 1 a(47)   of the Commodit Exchan e Act.   “Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking   into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a)   for any date on or after the date such Swap Contracts have been closed out and termination value(s) de   termined in accordance therewith, such termination value(s), and (b) for any date prior to the date refer   enced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as   -54-    

 

determined based upon one or more mid-market or other readily available quotations provided by any   recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender).   “Syndication Agent” means Morgan Stanley Senior Funding, Inc., in its capacity as syndication   agent.   “Tax Group” has the meaning specified in Section 7.06(h)(iv).   “Taxes” means all present or future taxes, duties, levies, imposts, assessments or withholdings   imposed by any Governmental Authority including interest, penalties and additions to tax.   “Term B-i Commitment” means, with respect to a Term Lender, the agreement of such Term   Lender to exchange the entire principal amount of its Term B Loans (or such lesser amount allocated to it   by the Arrangers) for a principal amount of Term B-I Loans equal to such entire principal amount (or   such lesser amount) on the Amendment No. 1 Effective Date.   “Term B-I Lender” m s a erson holdin a Term B-i Loan from time o ime   “Term B-i Loan” means, collectively: (i) each Exchanged Term B Loan and (ii) from and afier   the making thereof pursuant to Section 2.01 (b)(ii), each Additional Term B-I Loan.   “Term B-2 Commitment” means, with respect to a Person, the agreement of such Person to   make a Term 8-2 Loan on the Amendment No. 2 Effective Date, in the amount set forth on the Amend   ment No. 2 Joinder of such Person. The aggregate amount of the Term B-2 Commitments shall equal   S720.000.000   “Term B-2 Lender” means a Person with a Term B-2 Commitment to make Term B-2 Loans to   the Borrower on the Amendment No. 2 Effective Date, which for the avoidance of doubt may be an exist-   in Term Lender and an other Person holdin a Term B-2 Loan from time to time.   “Term B-2 Loan” means a Loan that is made pursuant to Section 2.0l(c)(i) of the Credit Agree   ment on the Amendment No. 2 Effective Date.   “Term Commitment” means, as to each Term Lender, its obligation to make a Term Loan to   the Borrower hereunder, expressed as an amount representing the maximum principal amount of the Term   Loan to be made by such Term Lender under this Agreement, as such commitment may be (a) reduced   from time to time pursuant to Section 2.06 and (b) reduced or increased from time to time pursuant to (i)   assignments by or to such Term Lender pursuant to an Assignment and Assumption, (ii) an Incremental   Amendment, (iii) a Refinancing Amendment or (iv) an Extension. The initial amount of each Term   Lender’s Commitment is set forth in Section 1 .01 A of the Confidential Disclosure Letter under the cap   tion “Term B Commitment” or, otherwise, in the Assignment and Assumption, Incremental Amendment   or Refinancing Amendment pursuant to which such Lender shall have assumed its Commitment, as the   case may be.   “Term Lender” means, at any time, any Lender that has a Term Commitment or a Term Loan at   such time.   “Term Loan” means any Term B-i Loan. Term 8-2 Loan, Incremental Term Loan, Other Term   Loan or Extended Term Loan, as the context may require.    

 

“Term Loan Extension Request” has the meaning provided in Section 2.16(a).   “Term Loan Extension Series” has the meaning provided in Section 2.16(a).   “Term Loan Increase” has the meaning set forth in Section 2.14(a).   “Term Loan Secured Hedge Agreement” means any Swap Contract permitted under Article   VII that is entered into by and between the Borrower or any Restricted Subsidiary and any Person that is a   Lender or an Affiliate of a Lender at the time such Swap Contract is entered into (any such Person, a   “fledge Bank”); provided that (a) such Person is designated a “Hedge Bank” with respect to such Term   Loan Secured Hedge Agreement in a writing from the Borrower to the Administrative Agent, and (other   than a Person already party hereto as a Lender) that delivers to the Administrative Agent a letter agree   ment reasonably satisfactory to it (i) appointing the Administrative Agent as its agent under the applicable   Loan Documents and (ii) agreeing to be bound by Sections 10.05, 10.15 and 10.16 and Article IX as if it   were a Lender and (b) such Swap Contract is designated in a writing from the Borrower to the Adminis   trative Agent as a “Term Loan Secured Hedge Agreement”.   “Term Note” means a promissory note of the Borrower payable to any Term Lender or its regis   tered assigns, in substantially the form of Exhibit C hereto, evidencing the aggregate Indebtedness of such   Borrower to such Term Lender resulting from the Term Loans made by such Term Lender.   “Test Period” means, for any date of determination under this Agreement, the four consecutive   fiscal quarters of the Borrower most recently ended as of such date of determination.   “Threshold Amount” means 52535,000,000.   “Total Assets” means the total assets of the Borrower and the Restricted Subsidiaries on a con   solidated basis in accordance with GAAP, as shown on the most recent balance sheet of the Borrower   delivered pursuant to Section 6.01(a) or (b) or, for the period prior to the time any such statements are so   delivered pursuant to Section 6.01(a) or (b), the Pro Forma Financial Statements.   “Total Leverage Ratio” means, with respect to any Test Period, the ratio of (a) Consolidated To   tal Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.   “Total Outstandings” means the aggregate Outstanding Amount of all Loans.   “Transaction Expenses” means any fees or expenses incurred or paid by Holdings, the Borrower   or any of their respective Subsidiaries in connection with the Transactions (including expenses in connec   tion with hedging transactions), this Agreement and the other Loan Documents and the transactions con   templated hereby and thereby.   “Transactions” means, collectively, (a) the Acquisition and other related transactions contem   plated by the Acquisition Agreement, (b) the issuance of the Senior Notes, (c) the funding of the Term B   Loans on the Closing Date and the execution and delivery of Loan Documents to be entered into on the   Closing Date, (d) the execution and delivery by the Borrower and the Subsidiaries party thereto of the   ABL Facility Documentation, (e) the Refinancing and (0 the payment of Transaction Expenses.   “Transferred Guarantor” has the meaning specified in Section 11.09.   -56-    

 

“Type” means, with respect to a Loan, its character as a Base Rate Loan or a Eurocurrency Rate   Loan.   “Uniform Commercial Code” or “UCC” means the Uniform Commercial Code as the same   may from time to time be in effect in the State of New York or the Uniform Commercial Code (or similar   code or statute) of another jurisdiction, to the extent it may be required to apply to any item or items of   Collateral.   “United States” and “U.S.” mean the United States of America.   “United States Tax Compliance Certificate” has the meaning set forth in Section 3.01(d)(ii)(C)   and is in substantially the form of Exhibit I hereto.   “Unrestricted Subsidiary” means any Subsidiary of the Borrower designated by the board of di   rectors of the Borrower as an Unrestricted Subsidiary pursuant to Section 6.14 subsequent to the Closing   Date and each Securitization Subsidiary.   “USA Patriot Act” means the Uniting and Strengthening America by Providing Appropriate   Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56.   “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the   number of years obtained by dividing; (i) the sum of the products obtained by multiplying (a) the amount   of each then remaining installment, sinking flind, serial maturity or other required payments of principal,   including payment at final maturity, in respect thereof; by (b) the number of years (calculated to the near   est one-twelfth) that will elapse between such date and the making of such payment; by (ii) the then out   standing principal amount of such Indebtedness.   “wholly owned” means, with respect to a Subsidiary of a Person, a Subsidiary of such Person all   of the outstanding Equity Interests of which (other than (x) director’s qualif~’ing shares and (y) shares is   sued to foreign nationals to the extent required by applicable Law) are owned by such Person and/or by   one or more wholly owned Subsidiaries of such Person.   Section 1 .02 Other Interpretive Provisions.   With reference to this Agreement and each other Loan Document, unless otherwise specified   herein or in such other Loan Document:   (a) The meanings of defined terms are equally applicable to the singnlar and plural   forms of the defined terms.   (b) The words “herein,” “hereto,” “hereof” and “hereunder” and words of similar   import when used in any Loan Document shall refer to such Loan Document as a whole and not   to any particular provision thereof.   (c) Article, Section, Exhibit and Schedule references are to the Loan Document in   which such reference appears.   (d) The term “including” is by way of example and not limitation.   (e) The word “or” is not exclusive.   -57-    

 

(f) The term “documents” includes any and all instruments, documents, agreements,   certificates, notices, reports, fmancial statements and other writings, however evidenced, whether   in physical or electronic form.   (g) In the computation of periods of time from a specified date to a later specified   date, the word “from” means “from and including”; the words “to” and “until” each mean “to but   excluding”; and the word “through” means “to and including.”   (h) Section headings herein and in the other Loan Documents are included for con   venience of reference only and shall not affect the interpretation of this Agreement or any other   Loan Document.   (i) For purposes of determining compliance with any Section of Article VII at any   time, in the event that any Lien, Investment, Indebtedness (whether at the time of incurrence or   upon application of all or a portion of the proceeds thereof), Disposition, Restricted Payment, Af   filiate transaction, Contractual Obligation or prepayment of Indebtedness meets the criteria of one   or more than one of the categories of transactions permitted pursuant to any clause of such Sec   tions, such transaction (or portion thereof) at any time shall be pennitted under one or more of   such clauses as determined by the Borrower in its sole discretion at such time.   Section 1.03 Accounting Terms.   All accounting terms not specifically or completely defined herein shall be construed in con   formity with, and all financial data (including financial ratios and other financial calculations) required to   be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP, except as other   wise specifically prescribed herein.   Section 1.04 Rounding.   Any financial ratios required to be maintained by the Borrower pursuant to this Agreement (or   required to be satisfied in order for a specific action to be permitted under this Agreement) shall be calcu   lated by dividing the appropriate component by the other component, carrying the result to one place   more than the number of places by which such ratio is expressed herein and rounding the result up or   down to the nearest number (with a rounding up if there is no nearest number).   Section 1.05 References to Agreements. Laws, Etc.Unless otherwise expressly provided   in, (a) references to Organization Documents, agreements (including the Loan Documents) and other con   tractual instruments shall be deemed to include all subsequent amendments, restatements, extensions,   supplements and other modifications thereto, but only to the extent that such amendments, restatements,   extensions, supplements and other modifications are permitted by the Loan Documents; and (b) refer   ences to any Law shall include all statutory and regulatory provisions consolidating, amending, replacing,   supplementing or interpreting such Law.   Section 1.06 Times of Day.   Unless otherwise specified, all references herein to times of day shall be references to Eastern   time (daylight or standard, as applicable).   -58-    

 

Section 1.07 Timing of Payment of Performance.   When the payment of any obligation or the performance of any covenant, duty or obligation is   stated to be due or performance required on a day which is not a Business Day, the date of such payment   (other than as described in the definition of Interest Period) or performance shall extend to the immediate   ly succeeding Business Day.   Section 1.08 Cumulative Credit Transactions.   If more than one action occurs on any given date the permissibility of the taking of which is de   termined hereunder by reference to the amount of the Cumulative Credit immediately prior to the taking   of such action, the permissibility of the taking of each such action shall be determined independently and   in no event may any two or more such actions be treated as occurring simultaneously.   Section 1.09 Pro Forma Calculations.   (a) Notwithstanding anything to the contrary herein, financial ratios and tests, including the   Total Leverage Ratio, the Secured Leverage Ratio, the Consolidated First Lien Net Leverage Ratio and   the Consolidated Cash Interest Coverage Ratio shall be calculated in the manner prescribed by this Sec   tion 1.09; provided that notwithstanding anything to the contrary in clauses (b), (c) or (d) of this Sec   tion 1.09, when calculating the Consolidated First Lien Net Leverage Ratio, the Total Leverage Ratio and   the Consolidated Cash Interest Coverage Ratio, each as applicable, for purposes of (i) the definition of   “Applicable Rate,” (ii) the defmition of “Applicable ECF Percentage of Excess Cash Flow” and (iii) de   termining actual compliance (and not Pro Forma Compliance or compliance on a Pro Forma Basis) with   any covenant pursuant to Section 7.11, the events described in this Section 1.09 that occurred subsequent   to the end of the applicable Test Period shall not be given proforma effect. In addition, whenever a fi   nancial ratio or test is to be calculated on a proforma basis, the reference to the “Test Period” for purpos   es of calculating such financial ratio or test shall be deemed to be a reference to, and shall be based on,   the most recently ended Test Period for which internal financial statements of the Borrower are available   (as determined in good faith by the Borrower);provided that, the provisions of this sentence shall not ap   ply for purposes of calculating the Consolidated First Lien Net Leverage Ratio, the Total Leverage Ratio   and the Consolidated Cash Interest Coverage Ratio for purposes of the defmition of “Applicable Rate,”   the defmition of “Applicable ECF Percentage of Excess Cash Flow” and determining actual compliance   with Section 7.11 (other than for the purpose of determining proforma compliance with Section 7.11),   each of which shall be based on the financial statements delivered pursuant to Section 6.0 1(a) or (b), as   applicable, for the relevant Test Period.   (b) For purposes of calculating any financial ratio or test, Specified Transactions (with any   incurrence or repayment of any Indebtedness in connection therewith to be subject to clause (d) of this   Section 1.09) that have been made (i) during the applicable Test Period and (ii) if applicable as described   in clause (a) above, subsequent to such Test Period and prior to or simultaneously with the event for   which the calculation of any such ratio is made shall be calculated on aproforzna basis assuming that all   such Specified Transactions (and any increase or decrease in Consolidated EBITDA and the component   financial definitions used therein attributable to any Specified Transaction) had occurred on the first day   of the applicable Test Period. If since the beginning of any applicable Test Period any Person that subse   quently became a Restricted Subsidiary or was merged, amalgamated or consolidated with or into the   Borrower or any of its Restricted Subsidiaries since the beginning of such Test Period shall have made   any Specified Transaction that would have required adjustment pursuant to this Section 1.09, then such   financial ratio or test shall be calculated to give proforma effect thereto in accordance with this Sec   tion 1.09.   -59-    

 

(c) Wheneverproforma effect is to be given to a Specified Transaction, theproforma calcu   lations shall be made in good faith by a responsible fmancial or accounting officer of the Borrower and   include, for the avoidance of doubt, the amount of “mn-rate” cost savings, operating expense reductions   and synergies projected by the Borrower in good faith to be realized as a result of specified actions taken,   committed to be taken or expected to be taken (calculated on aproforma basis as though such cost sav   ings, operating expense reductions and synergies had been realized on the first day of such period and as   if such cost savings, operating expense reductions and synergies were realized during the entirety of such   period) and “mn-rate” means the fill recurring benefit for a period that is associated with any action tak   en, committed to be taken or expected to be taken (including any savings expected to result from the elim   ination of a public target’s compliance costs with public company requirements) net of the amount of ac   tual benefits realized during such period from such actions, and any such adjustments shall be included in   the initial proforina calculations of such financial ratios or tests and during any subsequent Test Period in   which the effects thereof are expected to be realized relating to such Specified Transaction; provided that   (A) such amounts are reasonably identifiable and factually supportable in the good faith judgment of the   Borrower, (B) such actions have been taken or with respect to which substantial steps have been taken (in   the good faith determination of the Borrower) within eighteen (18) months after the date of such Specified   Transaction, and (C) no amounts shall be added pursuant to this clause (c) to the extent duplicative of any   amounts that are otherwise added back in computing Consolidated EBITDA, whether through a pro for-   ma adjustment or otherwise, with respect to such period; provided that any increase to Consolidated   EBITDA as a result of cost savings, operating expense reductions and synergies pursuant to this Sec   tion 1.09(c) shall be subject to the limitation set forth in the proviso of clause (viii) of the definition of   Consolidated EBITDA.   (d) In the event that the Borrower or any Restricted Subsidiary incurs (including by assump   tion or guarantees) or repays (including by redemption, repayment, retirement or extinguishment) any   Indebtedness included in the calculations of any financial ratio or test (in each case, other than Indebted   ness incurred or repaid under any revolving credit facility), (i) during the applicable Test Period or (ii)   subject to clause (a) subsequent to the end of the applicable Test Period and prior to or simultaneously   with the event for which the calculation of any such ratio is made, then such financial ratio or test shall be   calculated giving pro forina effect to such incurrence or repayment of Indebtedness, to the extent re   quired, as if the same had occurred on the last day of the applicable Test Period (or the first day of the   applicable Test Period solely in the case of the Consolidated Cash Interest Coverage Ratio).   (e) If any Indebtedness bears a floating rate of interest and is being given proforma effect,   the interest on such Indebtedness shall be calculated as if the rate in effect on the date of the event for   which the calculation of the Consolidated Cash Interest Coverage Ratio is made had been the applicable   rate for the entire period (taking into account any hedging obligations applicable to such Indebtedness);   provided, in the case of repayment of any Indebtedness, to the extent actual interest related thereto was   included during all or any portion of the applicable Test Period, the actual interest may be used for the   applicable portion of such Test Period. Interest on a Capitalized Lease Obligation shall be deemed to ac   crue at an interest rate reasonably determined by a responsible fmancial or accounting officer of the Bor   rower to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP.   Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a   prime or similar rate, a London interbank offered rate, or other rate, shall be determined to have been   based upon the rate actually chosen, or if none, then based upon such optional rate chosen as the Borrow   er or Restricted Subsidiary may designate.   (f) At any time prior to June 30, 2012, any provision requiring the pro forma compliance   with Section 7.11 shall be made assuming that compliance with the Consolidated Cash Interest Coverage   -60-    

 

Ratio and Total Leverage Ratio set forth in Section 7.11 for the Test Period ending on June 30, 2012 is   required with respect to the most recent Test Period prior to such time.   Section 1.10 Currency Generally.   For purposes of determining compliance with Sections 7.01, 7.02 and 7.03 with respect to any   amount of Indebtedness or investment in a currency other than Dollars, no Default shall be deemed to   have occurred solely as a result of changes in rates of currency exchange occurring after the time such   Indebtedness or Investment is incurred (so long as such Indebtedness or Investment, at the time incurred,   made or acquired, was permitted hereunder).   ARTICLE H.   THE COMMITMENTS AND CREDIT EXTENSIONS   Section 2.01 The Loans.   (a) Subject to the terms and conditions set forth herein, each Term Lender severally agrees to   make to the Borrower on the Closing Date one or more Borrowings denominated in Dollars in an aggre   gate amount not to exceed at any time outstanding the amount of such Term Lender’s Term Commitment.   Amounts borrowed under this Section 2.01 and repaid or prepaid may not be reborrowed. Term Loans   may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein.   (b) (i) Subject to the terms and conditions hereof and of Amendment No. 1, each Term   Lender severally agrees to exchange its Exchanged Term B Loans for a like principal amount of Term B-   1 Loans on the Amendment No. 1 Effective Date, and hereby authorizes and instructs the Administrative   Agent to delete its entry for such Term Lender’s Term B Loans in the Register and substitute such entry   with such Term B-i Loans of such Term Lender.   (ii) Subject to the terms and conditions hereof and of Amendment No. 1, each   Additional Term B-i Lender severally agrees to make an Additional Term B-I Loan to   the Borrower on the Amendment No. 1 Effective Date in the principal amount equal to its   Additional Term B-i Commitment on the Amendment No. 1 Effective Date. The Bor   rower shall prepay the Non-Exchanged Term B Loans with a like amount of the gross   proceeds of the Additional Term B-i Loans, concurrently with the receipt thereof.   (iii) The Borrower shall pay to the Term Lenders immediateiy prior to the effec   tiveness of Amendment No. 1 all accrued and unpaid interest on the Term Loans to, but   not including, the Amendment No. I Effective Date on such Amendment No. 1 Effective   Date.   (iv) The Term B-i Loans shall have the same terms as the Term B Loans as set   forth in the Credit Agreement and Loan Documents before giving effect to Amendment   No. 1, except as modified by Amendment No. 1; it being understood that the Temi B-i   Loans (and all principal, interest and other amounts in respect thereof) will constitute   “Obligations” under the Credit Agreement and the other Loan Documents and shall have   the same rights and obligations under the Credit Agreement and Loan Documents as the   Term B Loans prior to the Amendment No. 1 Effective Date.   c SuWect to the terms and conditions hereof and of Amendment No.2 each Term B 2   Lender severall a ees to make a Term B 2 Loan to the Borrower on the Amendment No. 2 Effective   -61-    

 

Date in the nnci al amount e ual to its Term B-2 Commitment Amounts borrowed under this Sec   tion 2.0 1(c) and repaid or prepad may not be reborrowed. Term Loans may be Base Rate Loans or Euro   currenc Rate Loans as further rovided herein.   Section 2.02 Borrowin s Conversions and Continuations of Loans.   (a) Each Borrowing, each conversion of Term Loans from one Type to the other, and each   continuation of Eurocurrency Rate Loans shall be made upon the Borrower’s irrevocable notice, to the   Administrative Agent (provided that the notices in respect of the initial Credit Extensions may be condi   tioned on the closing of the Acquisition), which may be given by telephone. Each such notice must be   received by the Administrative Agent not later than 11:00 a.m. (New York, New York time) (1) three (3)   Business Days prior to the requested date of any Borrowing or continuation of Eurocurrency Rate Loans   or any conversion of Base Rate Loans to Eurocurrency Rate Loans, and (2) on the requested date of any   Borrowing of Base Rate Loans; provided that the notice referred to in subclause (1) above may be deliv   ered no later than one (1) Business Day prior to the Closing Date in the case of initial Credit Extensions.   Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by   delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and   signed by a Responsible Officer of the Borrower. Except as provided in Section 2.14, each Borrowing of;   conversion to or continuation of Eurocurrency Rate Loans shall be in a minimum principal amount of   $1,000,000, or a whole multiple of$l00,000, in excess thereof. Except as provided in Section 2.14, each   Borrowing of or conversion to Base Rate Loans shall be in a minimum principal amount of $1,000,000 or   a whole multiple of $100,000 in excess thereof. Each Committed Loan Notice (whether telephonic or   written) shall specify (i) whether the Borrower is requesting a Borrowing, a conversion of Term Loans   from one Type to the other or a continuation of Eurocurrency Rate Loans, (ii) the requested date of the   Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the prin   cipal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or   to which existing Term Loans are to be converted, (v) if applicable, the duration of the Interest Period   with respect thereto and (vi) wire instructions of the account(s) to which funds are to be disbursed (it be   ing understood, for the avoidance of doubt, that the amount to be disbursed to any particular account may   be less than the minimum or multiple limitations set forth above so long as the aggregate amount to be   disbursed to all such accounts pursuant to such Borrowing meets such minimums and multiples). If the   Borrower fails to specify a Type of Loan in a Committed Loan Notice or fail to give a timely notice re   questing a conversion or continuation, then the applicable Term Loans shall be made as, or converted to,   Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day   of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If the Bor   rower requests a Borrowing of, conversion to, or continuation of Eurocurrency Rate Loans in any such   Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an In   terest Period of one (1) month.   (b) Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly   notify each Lender of the amount of its Pro Rata Share or other applicable share provided for under this   Agreement of the applicable Class of Loans, and if no timely notice of a conversion or continuation is   provided by the Borrower, the Administrative Agent shall notify each Lender of the details of any auto   matic conversion to Base Rate Loans or continuation described in Section 2.02(a). In the case of each   Borrowing, each Appropriate Lender shall make the amount of its Loan available to the Administrative   Agent in Same Day Funds at the Administrative Agent’s Office not later than 1:00 p.m. on the Business   Day specified in the applicable Committed Loan Notice. The Administrative Agent shall make all funds   so received available to the Borrower in like funds as received by the Administrative Agent either by (i)   crediting the account(s) of the Borrower on the books of the Administrative Agent with the amount of   -62-    

 

such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided by the   Borrower to (and reasonably acceptable to) the Administrative Agent.   (c) Except as otherwise provided herein, a Eurocurrency Rate Loan may be continued or   converted only on the last day of an Interest Period for such Eurocurrency Rate Loan unless the Borrower   pays the amount due, if any, under Section 3.05 in connection therewith. During the occurrence and con   tinuation of an Event of Default, the Administrative Agent or the Required Lenders may require that no   Loans may be converted to or continued as Eurocurrency Rate Loans.   (d) The Administrative Agent shall promptly notify the Borrower and the Lenders of the in   terest rate applicable to any Interest Period for Eurocurrency Rate Loans upon determination of such in   terest rate. The determination of the Eurocurrency Rate by the Administrative Agent shall be conclusive   in the absence of manifest error. At any time that Base Rate Loans are outstanding, the Administrative   Agent shall notify the Borrower and the Lenders of any change in Citi’s prime rate used in determining   the Base Rate promptly following the public announcement of such change.   (e) After giving effect to all Borrowings, all conversions of Term Loans from one Type to   the other and all continuations of Term Loans as the same Type, there shall not be more than six (6) Inter   est Periods in effect; provided that after the establishment of any new Class of Loans pursuant to a Refi   nancing Amendment or Extension Amendment, the number of Interest Periods otherwise permitted by   this Section 2.02(e) shall increase by three (3) Interest Periods for each applicable Class so established.   (0 The failure of any Lender to make the Loan to be made by it as part of any Borrowing   shall not relieve any other Lender of its obligation, if any, hereunder to make its Loan on the date of such   Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Loan to be   made by such other Lender on the date of any Borrowing.   (g) Unless the Administrative Agent shall have received notice from a Lender prior to the   date of any Borrowing that such Lender will not make available to the Administrative Agent such Lend   er’s Pro Rata Share or other applicable share provided for under this Agreement of such Borrowing, the   Administrative Agent may assume that such Lender has made such Pro Rata Share or other applicable   share provided for under this Agreement available to the Administrative Agent on the date of such Bor   rowing in accordance with paragraph (b) above, and the Administrative Agent may, in reliance upon such   assumption, make available to the Borrower on such date a corresponding amount. If the Administrative   Agent shall have so made funds available, then, to the extent that such Lender shall not have made such   portion available to the Administrative Agent, each of such Lender and the Borrower severally agree to   repay to the Administrative Agent forthwith on demand such corresponding amount together with interest   thereon, for each day from the date such amount is made available to the Borrower until the date such   amount is repaid to the Administrative Agent at (i) in the case of the Borrower, the interest rate applicable   at the time to the Loans comprising such Borrowing and (ii) in the case of such Lender, the Overnight   Rate plus any administrative, processing, or similar fees customarily charged by the Administrative Agent   in accordance with the foregoing. A certificate of the Administrative Agent submitted to any Lender with   respect to any amounts owing under this Section 2.02(g) shall be conclusive in the absence of manifest   error. If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same   or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of   such interest paid by the Borrower for such period. If such Lender pays its share of the applicable Bor   rowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included   in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower   may have against a Lender that shall have failed to make such payment to the Administrative Agent.   -63-    

 

Section 2.03 [Reserved].   Section 2.04 [Reserved].   Section 2.05 Prepayments.   (a) Optional. (i) The Borrower may, upon notice to the Administrative Agent by the Bor   rower, at any time or from time to time voluntarily prepay any Class or Classes of Term Loans in whole   or in part without premium or penalty; provided that (1) such notice must be received by the Administra   tive Agent not later than 11:00 a.m. (New York City time) (A) three (3) Business Days prior to any date   of prepayment of Eurocurrency Rate Loans and (B) on the date of prepayment of Base Rate Loans; (2)   any prepayment of Eurocurrency Rate Loans shall be in a minimum principal amount of $1,000,000, or a   whole multiple of $100,000 in excess thereof; and (3) any prepayment of Base Rate Loans shall be in a   minimum principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof or, in each   case, if less, the entire principal amount thereof then outstanding. Each such notice shall speci& the date   and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. The Administra   tive Agent will promptly notify each Appropriate Lender of its receipt of each such notice, and of the   amount of such Lender’s Pro Rata Share or other applicable share provided for under this Agreement of   such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and   the payment amount specified in such notice shall be due and payable on the date specified therein. Any   prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest thereon, together   with any additional amounts required pursuant to Section 3.05. In the case of each prepayment of the   Loans pursuant to this Section 2.05(a), the Borrower may in its sole discretion select the Borrowing or   Borrowings (and the order of maturity of principal payments) to be repaid, and such payment shall be   paid to the Appropriate Lenders in accordance with their respective Pro Rata Shares or other applicable   share provided for under this Agreement.   (ii) [Reserved].   (iii) Notwithstanding anything to the contrary contained in this Agreement, the Borrower may   rescind any notice of prepayment under Section 2.05(a)(i) if such prepayment would have resulted from a   refinancing of the applicable Facility, which refinancing shall not be consummated or shall otherwise be   delayed.   (iv) Voluntary prepayments of any Class of Term Loans permitted hereunder shall be applied   to the remaining scheduled installments of principal thereof pursuant to Section 2.07 in a manner deter   mined at the discretion of the Borrower and specified in the notice of prepayment (and absent such direc   tion, in direct order of maturity); provided that, for the avoidance of doubt, the prepayments of Loans oc   curring on the Amendment No. I Effective Date shall not be deemed a “prepayment” for purposes of this   clause.   (v) Notwithstanding anything in any Loan Document to the contrary, so long as no Default   or Event of Default has occurred and is continuing, any Company Party may prepay the outstanding Term   Loans (which shall, for the avoidance of doubt, be automatically and permanently canceled immediately   upon such prepayment) (or Holdings or any of its Subsidiaries may purchase such outstanding Loans and   immediately cancel them) on the following basis:   (A) Any Company Party shall have the right to make a voluntary prepayment of   Term Loans at a discount to par pursuant to a Borrower Offer of Specified Discount Prepayment,   Borrower Solicitation of Discount Range Prepayment Offers or Borrower Solicitation of Dis   -64-    

 

counted Prepayment Offers (any such prepayment, the “Discounted Term Loan Prepayment”),   in each case made in accordance with this Section 2.05(a)(v); provided that no Company Party   shall initiate any action under this Section 2.05(a)(v) in order to make a Discounted Term Loan   Prepayment unless (I) at least ten (10) Business Days shall have passed since the consummation   of the most recent Discounted Term Loan Prepayment as a result of a prepayment made by a   Company Party on the applicable Discounted Prepayment Effective Date; or (II) at least three (3)   Business Days shall have passed since the date the Company Party was notified that no Term   Lender was willing to accept any prepayment of any Term Loan at the Specified Discount, within   the Discount Range or at any discount to par value, as applicable, or in the case of Borrower So   licitation of Discounted Prepayment Offers, the date of any Company Party’s election not to ac   cept any Solicited Discounted Prepayment Offers.   (B) (l)Subject to the proviso to subsection (A) above, any Company Party may from   time to time offer to make a Discounted Tenn Loan Prepayment by providing the Auction Agent   with five (5) Business Days’ notice in the form of a Specified Discount Prepayment Notice; pro   vided that (I) any such offer shall be made available, at the sole discretion of the Company Party,   to (x) each Term Lender and/or (y) each Term Lender with respect to any Class of Term Loans on   an individual tranche basis, (II) any such offer shall specify the aggregate principal amount of   fered to be prepaid (the “Specified Discount Prepayment Amount”) with respect to each appli   cable tranche, the tranche or tranches of Term Loans subject to such offer and the specific per   centage discount to par (the “Specified Discount”) of such Term Loans to be prepaid (it being   understood that different Specified Discounts and/or Specified Discount Prepayment Amounts   may be offered with respect to different tranches of Term Loans and, in such event, each such of   fer will be treated as a separate offer pursuant to the terms of this Section 2.05(a)(v)(B)), (ifi) the   Specified Discount Prepayment Amount shall be in an aggregate amount not less than   $10,000,000 and whole increments of $1,000,000 in excess thereof and (IV) each such offer shall   remain outstanding through the Specified Discount Prepayment Response Date. The Auction   Agent will promptly provide each Appropriate Lender with a copy of such Specified Discount   Prepayment Notice and a form of the Specified Discount Prepayment Response to be completed   and returned by each such Term Lender to the Auction Agent (or its delegate) by no later than   5:00 p.m., on the third Business Day after the date of delivery of such notice to such Lenders (the   “Specified Discount Prepayment Response Date”).   (2) Each Term Lender receiving such offer shall notify the Auction Agent (or its del   egate) by the Specified Discount Prepayment Response Date whether or not it agrees to accept a   prepayment of any of its applicable then outstanding Term Loans at the Specified Discount and, if   so (such accepting Lender, a “Discount Prepayment Accepting Lender”), the amount and the   tranches of such Lender’s Term Loans to be prepaid at such offered discount. Each acceptance of   a Discounted Term Loan Prepayment by a Discount Prepayment Accepting Lender shall be irrev   ocable. Any Term Lender whose Specified Discount Prepayment Response is not received by the   Auction Agent by the Specified Discount Prepayment Response Date shall be deemed to have de   clined to accept the applicable Borrower Offer of Specified Discount Prepayment.   (3) If there is at least one Discount Prepayment Accepting Lender, the relevant   Company Party will make a prepayment of outstanding Term Loans pursuant to this paragraph   (B) to each Discount Prepayment Accepting Lender in accordance with the respective outstanding   amount and tranches of Term Loans specified in such Lender’s Specified Discount Prepayment   Response given pursuant to subsection (2) above; provided that, if the aggregate principal amount   of Term Loans accepted for prepayment by all Discount Prepayment Accepting Lenders exceeds   the Specified Discount Prepayment Amount, such prepayment shall be made pro rata among the   -65-    

 

Discount Prepayment Accepting Lenders in accordance with the respective principal amounts ac   cepted to be prepaid by each such Discount Prepayment Accepting Lender and the Auction Agent   (in consultation with such Company Party and subject to rounding requirements of the Auction   Agent made in its reasonable discretion) will calculate such proration (the “Specified Discount   Proration”). The Auction Agent shall promptly, and in any case within three (3) Business Days   following the Specified Discount Prepayment Response Date, notify (I) the relevant Company   Party of the respective Term Lenders’ responses to such offer, the Discounted Prepayment Effec   tive Date and the aggregate principal amount of the Discounted Term Loan Prepayment and the   tranches to be prepaid, (II) each Term Lender of the Discounted Prepayment Effective Date, and   the aggregate principal amount and the tranches of Term Loans to be prepaid at the Specified   Discount on such date and (III) each Discount Prepayment Accepting Lender of the Specified   Discount Proration, if any, and confirmation of the principal amount, tranche and Type of Term   Loans of such Lender to be prepaid at the Specified Discount on such date. Each determination   by the Auction Agent of the amounts stated in the foregoing notices to the Company Party and   such Term Lenders shall be conclusive and binding for all purposes absent manifest error. The   payment amount specified in such notice to the Company Party shall be due and payable by such   Company Party on the Discounted Prepayment Effective Date in accordance with subsection (F)   below (subject to subsection (J) below).   (C) (l)Subject to the proviso to subsection (A) above, any Company Party may from   time to time solicit Discount Range Prepayment Offers by providing the Auction Agent with five   (5) Business Days’ notice in the form of a Discount Range Prepayment Notice; provided that (I)   any such solicitation shall be extended, at the sole discretion of such Company Party, to (x) each   Term Lender andlor (y) each Term Lender with respect to any Class of Term Loans on an indi   vidual tranche basis, (II) any such notice shall specify the maximum aggregate principal amount   of the relevant Term Loans (the “Discount Range Prepayment Amount”), the tranche or   tranches of Term Loans subject to such offer and the maximum and minimum percentage dis   counts to par (the “Discount Range”) of the principal amount of such Term Loans with respect to   each relevant tranchc of Term Loans willing to be prepaid by such Company Party (it being un   derstood that different Discount Ranges and/or Discount Range Prepayment Amounts may be of   fered with respect to different tranches of Term Loans and, in such event, each such offer will be   treated as separate offer pursuant to the terms of this Section 2.05(a)(v)(C)), (III) the Discount   Range Prepayment Amount shall be in an aggregate amount not less than $10,000,000 and whole   increments of $1,000,000 in excess thereof and (lv) each such solicitation by a Company Party   shall remain outstanding through the Discount Range Prepayment Response Date. The Auction   Agent will promptly provide each Appropriate Lender with a copy of such Discount Range Pre   payment Notice and a form of the Discount Range Prepayment Offer to be submitted by a re   sponding Lender to the Auction Agent (or its delegate) by no later than 5:00 p.m., on the third   Business Day afler the date of delivery of such notice to such Lenders (the “Discount Range   Prepayment Response Date”). Each Term Lender’s Discount Range Prepayment Offer shall be   irrevocable and shall specify a discount to par within the Discount Range (the “Submitted Dis   count”) at which such Lender is willing to allow prepayment of any or all of its then outstanding   Term Loans of the applicable tranche or tranches and the maximum aggregate principal amount   and tranches of such Lender’s Term Loans (the “Submitted Amount”) such Term Lender is will   ing to have prepaid at the Submitted Discount. Any Term Lender whose Discount Range Pre   payment Offer is not received by the Auction Agent by the Discount Range Prepayment Re   sponse Date shall be deemed to have declined to accept a Discounted Term Loan Prepayment of   any of its Term Loans at any discount to their par value within the Discount Range.   -66-    

 

(2) The Auction Agent shall review all Discount Range Prepayment Offers received   on or before the applicable Discount Range Prepayment Response Date and shall determine (in   consultation with such Company Party and subject to rounding requirements of the Auction   Agent made in its sole reasonable discretion) the Applicable Discount and Term Loans to be pre   paid at such Applicable Discount in accordance with this subsection (C). The relevant Company   Party agrees to accept on the Discount Range Prepayment Response Date all Discount Range   Prepayment Offers received by Auction Agent by the Discount Range Prepayment Response   Date, in the order from the Submitted Discount that is the largest discount to par to the Submitted   Discount that is the smallest discount to par, up to and including the Submitted Discount that is   the smallest discount to par within the Discount Range (such Submitted Discount that is the   smallest discount to par within the Discount Range being referred to as the “Applicable Dis   count”) which yields a Discounted Term Loan Prepayment in an aggregate principal amount   equal to the lower of (I) the Discount Range Prepayment Amount and (II) the sum of all Submit   ted Amounts. Each Term Lender that has submitted a Discount Range Prepayment Offer to ac   cept prepayment at a discount to par that is larger than or equal to the Applicable Discount shall   be deemed to have irrevocably consented to prepayment of Term Loans equal to its Submitted   Amount (subject to any required proration pursuant to the following subsection (3)) at the Appli   cable Discount (each such Term Lender, a “Participating Lender”).   (3) If there is at least one Participating Lender, the relevant Company Party will pre   pay the respective outstanding Term Loans of each Participating Lender in the aggregate princi   pal amount and of the tranches specified in such Lender’s Discount Range Prepayment Offer at   the Applicable Discount; provided that if the Submitted Amount by all Participating Lenders of   fered at a discount to par greater than the Applicable Discount exceeds the Discount Range Pre   payment Amount, prepayment of the principal amount of the relevant Term Loans for those Par   ticipating Lenders whose Submitted Discount is a discount to par greater than or equal to the Ap   plicable Discount (the “Identified Participating Lenders”) shall be made pro rata among the   Identified Participating Lenders in accordance with the Submitted Amount of each such Identified   Participating Lender and the Auction Agent (in consultation with such Company Party and subj ect to rounding requirements of the Auction Agent made in its sole reasonable discretion) will   calculate such proration (the “Discount Range Proration”). The Auction Agent shall promptly,   and in any case within five (5) Business Days following the Discount Range Prepayment Re   sponse Date, notifS’ (I) the relevant Company Party of the respective Term Lenders’ responses to   such solicitation, the Discounted Prepayment Effective Date, the Applicable Discount, and the   aggregate principal amount of the Discounted Term Loan Prepayment and the tranches to be pre   paid, (II) each Term Lender of the Discounted Prepayment Effective Date, the Applicable Dis   count, and the aggregate principal amount and tranches of Term Loans to be prepaid at the Appli   cable Discount on such date, (III) each Participating Lender of the aggregate principal amount   and tranches of such Term Lender to be prcpaid at the Applicable Discount on such date, and (IV)   if applicable, each Identified Participating Lender of the Discount Range Proration. Each deter   mination by the Auction Agent of the amounts stated in the foregoing notices to the relevant   Company Party and Term Lenders shall be conclusive and binding for all purposes absent mani   fest error. The payment amount specified in such notice to the Company Party shall be due and   payable by such Company Party on the Discounted Prepayment Effective Date in accordance   with subsection (F) below (subject to subsection (J) below).   (D) (l)Subject to the proviso to subsection (A) above, any Company Party may from   time to time solicit Solicited Discounted Prepayment Offers by providing the Auction Agent with   five (5) Business Days’ notice in the form of a Solicited Discounted Prepayment Notice; provided   that (I) any such solicitation shall be extended, at the sole discretion of such Company Party, to   -67-    

 

(x) each Term Lender and/or (y) each Lender with respect to any Class of Loans on an individual   tranche basis, (II) any such notice shall specify the maximum aggregate amount of the Term   Loans (the “Solicited Discounted Prepayment Amount”) and the tranche or tranches of Term   Loans the Borrower is willing to prepay at a discount (it being understood that different Solicited   Discounted Prepayment Amounts may be offered with respect to different tranches of Term   Loans and, in such event, each such offer will be treated as a separate offer pursuant to the terms   of this Section 2.05(a)(v)(D)), (ifi) the Solicited Discounted Prepayment Amount shall be in an   aggregate amount not less than $10,000,000 and whole increments of $1,000,000 in excess there   of and (IV) each such solicitation by a Company Party shall remain outstanding through the So   licited Discounted Prepayment Response Date. The Auction Agent will promptly provide each   Appropriate Lender with a copy of such Solicited Discounted Prepayment Notice and a form of   the Solicited Discounted Prepayment Offer to be submitted by a responding Lender to the Auc   tion Agent (or its delegate) by no later than 5:00 p.m., on the third Business Day after the date of   delivery of such notice to such Term Lenders (the “Solicited Discounted Prepayment Response   Date”). Each Term Lender’s Solicited Discounted Prepayment Offer shall (x) be irrevocable, (y)   remain outstanding until the Acceptance Date, and (z) specify both a discount to par (the “Of   fered Discount”) at which such Term Lender is willing to allow prepayment of its then outstand   ing Term Loan and the maximum aggregate principal amount and tranches of such Term Loans   (the “Offered Amount”) such Term Lender is willing to have prepaid at the Offered Discount.   Any Term Lender whose Solicited Discounted Prepayment Offer is not received by the Auction   Agent by the Solicited Discounted Prepayment Response Date shall be deemed to have declined   prepayment of any of its Term Loans at any discount.   (2) The Auction Agent shall promptly provide the relevant Company Party with a   copy of all Solicited Discounted Prepayment Offers received on or before the Solicited Discount   ed Prepayment Response Date. Such Company Party shall review all such Solicited Discounted   Prepayment Offers and select the largest of the Offered Discounts specified by the relevant re   sponding Term Lenders in the Solicited Discounted Prepayment Offers that is acceptable to the   Company Party (the “Acceptable Discount”), if any. If the Company Party elects to accept any   Offered Discount as the Acceptable Discount, then as soon as practicable after the determination   of the Acceptable Discount, but in no event later than by the third Business Day after the date of   receipt by such Company Party from the Auction Agent of a copy of all Solicited Discounted   Prepayment Offers pursuant to the first sentence of this subsection (2) (the “Acceptance Date”),   the Company Party shall submit an Acceptance and Prepayment Notice to the Auction Agent set   ting forth the Acceptable Discount. If the Auction Agent shall fail to receive an Acceptance and   Prepayment Notice from the Company Party by the Acceptance Date, such Company Party shall   be deemed to have rejected all Solicited Discounted Prepayment Offers.   (3) Based upon the Acceptable Discount and the Solicited Discounted Prepayment   Offers received by Auction Agent by the Solicited Discounted Prepayment Response Date, within   three (3) Business Days after receipt of an Acceptance and Prepayment Notice (the “Discounted   Prepayment Determination Date”), the Auction Agent will determine (in consultation with such   Company Party and subject to rounding requirements of the Auction Agent made in its sole rea   sonable discretion) the aggregate principal amount and the tranches of Term Loans (the “Ac   ceptable Prepayment Amount”) to be prepaid by the relevant Company Party at the Acceptable   Discount in accordance with this Section 2.05(a)(v)(D). If the Company Party elects to accept   any Acceptable Discount, then the Company Party agrees to accept all Solicited Discounted Pre   payment Offers received by Auction Agent by the Solicited Discounted Prepayment Response   Date, in the order from largest Offered Discount to smallest Offered Discount, up to and includ   ing the Acceptable Discount. Each Term Lender that has submitted a Solicited Discounted Pre   -68-    

 

payment Offer with an Offered Discount that is greater than or equal to the Acceptable Discount   shall be deemed to have irrevocably consented to prepayment of Term Loans equal to its Offered   Amount (subject to any required pro-rata reduction pursuant to the following sentence) at the Ac   ceptable Discount (each such Lender, a “Qualifying Lender”). The Company Party will prepay   outstanding Term Loans pursuant to this subsection (D) to each Qualifying Lender in the aggre   gate principal amount and of the tranches specified in such Lender’s Solicited Discounted Pre   payment Offer at the Acceptable Discount; provided that if the aggregate Offered Amount by all   Qualifying Lenders whose Offered Discount is greater than or equal to the Acceptable Discount   exceeds the Solicited Discounted Prepayment Amount, prepayment of the principal amount of the   Term Loans for those Qualifying Lenders whose Offered Discount is greater than or equal to the   Acceptable Discount (the “Identified Qualifying Lenders”) shall be made pro rata among the   Identified Qualifying Lenders in accordance with the Offered Amount of each such Identified   Qualifying Lender and the Auction Agent (in consultation with such Company Party and subject   to rounding requirements of the Auction Agent made in its sole reasonable discretion) will calcu   late such proration (the “Solicited Discount Proration”). On or prior to the Discounted Prepay   ment Determination Date, the Auction Agent shall promptly notify (I) the relevant Company Par   ty of the Discounted Prepayment Effective Date and Acceptable Prepayment Amount comprising   the Discounted Term Loan Prepayment and the tranches to be prepaid, (II) each Term Lender of   the Discounted Prepayment Effective Date, the Acceptable Discount, and the Acceptable Pre   payment Amount of all Term Loans and the tranches to be prepaid to be prepaid at the Applicable   Discount on such date, (Ill) each Qualifying Lender of the aggregate principal amount and the   tranches of such Term Lender to be prepaid at the Acceptable Discount on such date, and (lv) if   applicable, each Identified Qualifying Lender of the Solicited Discount Proration. Each determi   nation by the Auction Agent of the amounts stated in the foregoing notices to such Company Par   ty and Term Lenders shall be conclusive and binding for all purposes absent manifest error. The   payment amount specified in such notice to such Company Party shall be due and payable by   such Company Party on the Discounted Prepayment Effective Date in accordance with subsec   tion (F) below (subject to subsection (J) below).   (E) In connection with any Discounted Term Loan Prepayment, the Company Parties   and the Term Lenders acknowledge and agree that the Auction Agent may require as a condition   to any Discounted Term Loan Prepayment, the payment of customary fees and expenses from a   Company Party in connection therewith.   (F) If any Term Loan is prepaid in accordance with paragraphs (B) through (D)   above, a Company Party shall prepay such Term Loans on the Discounted Prepayment Effective   Date. The relevant Company Party shall make such prepayment to the Administrative Agent, for   the account of the Discount Prepayment Accepting Lenders, Participating Lenders, or Qualifying   Lenders, as applicable, at the Administrative Agent’s Office in immediately available ifinds not   later than 11:00 a.m. on the Discounted Prepayment Effective Date and all such prepayments   shall be applied to the remaining principal installments of the relevant tranche of Loans on a pro   rata basis across such installments. The Term Loans so prepaid shall be accompanied by all ac   crued and unpaid interest on the par principal amount so prepaid up to, but not including, the Dis   counted Prepayment Effective Date. Each prepayment of the outstanding Term Loans pursuant to   this Section 2.05(a)(v) shall be paid to the Discount Prepayment Accepting Lenders, Participating   Lenders, or Qualifying Lenders, as applicable, and shall be applied to the relevant Loans of such   Lenders in accordance with their respective Pro Rata Share. The aggregate principal amount of   the tranches and installments of the relevant Term Loans outstanding shall be deemed reduced by   the full par value of the aggregate principal amount of the tranches of Term Loans prepaid on the   Discounted Prepayment Effective Date in any Discounted Term Loan Prepayment.   -69-    

 

(G) To the extent not expressly provided for herein, each Discounted Term Loan   Prepayment shall be consummated pursuant to procedures consistent with the provisions in this   Section 2.05(a)(v), established by the Auction Agent acting in its reasonable discretion and as   reasonably agreed by the Borrower.   (H) Notwithstanding anything in any Loan Document to the contrary, for purposes of   this Section 2.05(a)(v), each notice or other communication required to be delivered or otherwise   provided to the Auction Agent (or its delegate) shall be deemed to have been given upon the Auc   tion Agent’s (or its delegate’s) actual receipt during normal business hours of such notice or   communication; provided that any notice or communication actually received outside of normal   business hours shall be deemed to have been given as of the opening of business on the next   Business Day.   (I) Each of the Company Parties and the Term Lenders acknowledge and agree that   the Auction Agent may perform any and all of its duties under this Section 2.05(a)(v) by itself or   through any Affiliate of the Auction Agent and expressly consents to any such delegation of du   ties by the Auction Agent to such Affiliate and the performance of such delegated duties by such   Affiliate. The exculpatory provisions pursuant to this Agreement shall apply to each Affiliate of   the Auction Agent and its respective activities in connection with any Discounted Term Loan   Prepayment provided for in this Section 2.05(a)(v) as well as activities of the Auction Agent.   (J) Each Company Party shall have the right, by written notice to the Auction Agent,   to revoke in full (but not in part) its offer to make a Discounted Term Loan Prepayment and re   scind the applicable Specified Discount Prepayment Notice, Discount Range Prepayment Notice   or Solicited Discounted Prepayment Notice therefor at its discretion at any time on or prior to the   applicable Specified Discount Prepayment Response Date (and if such offer is revoked pursuant   to the preceding clauses, any failure by such Company Party to make any prepayment to a Lend   er, as applicable, pursuant to this Section 2.05(a)(v) shall not constitute a Default or Event of De   fault under Section 8.01 or otherwise).   (vi) Notwithstanding the foregoing, in the event that, on or prior to the one ycarsix month an   niversary after the Amendment No. Effective Date, the Borrower (x) prepays, refinances, substitutes or   replaces any Term B Loans pursuant to a Repricing Transaction (including, for avoidance of doubt,   any prepayment made pursuant to Section 2.05(b)(iii) that constitutes a Repricing Transaction), or (y)   effects any amendment of this Agreement resulting in a Repricing Transaction, the Borrower shall pay to   the Administrative Agent, for the ratable account of each of the applicable Term Lenders, (I) in the case   I of clause (x), a prepayment premium of 1.0000 of the aggregate principal amount of the Term B Loans   so prepaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.000o of   the aggregate principal amount of the applicable Term B Loans outstanding immediately prior to such   amendment. Such amounts shall be due and payable on the date of effectiveness of such Repricing   Transaction.   (b) Mandatory. (i)Within five (5) Business Days after financial statements have been deliv   ered pursuant to Section 6.01(a) (commencing with the fiscal year ended March 31, 2013) and the related   Compliance Certificate has been delivered pursuant to Section 6.02(a), the Borrower shall, subject to   clause (b)(vii) of this Section 2.05, cause to be prepaid an aggregate principal amount of Term Loans in   an amount equal to (A) the Applicable ECF Percentage of Excess Cash Flow, if any, for the Excess Cash   Flow Period covered by such financial statements minus (B) the sum of (1) all voluntary prepayments of   Term Loans made during such fiscal year pursuant to Section 2.05(a)(v) or Section 10.07(1), in an amount   equal to the discounted amount actually paid in respect of the principal amount of such Term Loans, dur   -70-    

 

ing such fiscal year or, without duplication across periods, after year-end and prior to when such Excess   Cash Flow prepayment is due, (2) all other voluntary prepayments of Term Loans during such fiscal year   or, without duplication across periods, after year-end and prior to when such Excess Cash Flow prepay   ment is due and (3) all voluntary prepayments of loans under the ABL Facility during such fiscal year or,   without duplication across periods, after year end and prior to when such Excess Cash Flow prepayment   is due, to the extent the commitments under the ABL Facility are permanently reduced by the amount of   such payments and, in the case of each of the immediately preceding clauses (1), (2) and (3), to the extent   such prepayments are funded with the Internally Generated Cash and not funded with any Cure Amounts.   (ii) If (1) the Borrower or any Restricted Subsidiary of the Borrower Disposes of any proper   ty or assets (other than any Disposition of any property or assets permitted by Section 7.05(a), (b), (c),   (d), (e), (g), (h), (i), (1), (m) (except as set forth in the proviso thereof and except to the extent such prop   I erty is subject to a Mortgage), (n), (o), (p), ( or (t), or (2)   any Casualty Event occurs, which results in the realization or receipt by the Borrower or Restricted Sub   sidiary of Net Proceeds, the Borrower shall cause to be prepaid on or prior to the date which is ten (10)   Business Days after the date of the realization or receipt by the Borrower or any Restricted Subsidiary of   such Net Proceeds, subject to clause (b)(vii) of this Section 2.05, an aggregate principal amount of Term   Loans in an amount equal to 10000 of all such Net Proceeds received; provided that if at the time that any   such prepayment would be required, the Borrower is required to offer to repurchase or to prepay Permit   ted First Priority Refinancing Debt (or any Permitted Refinancing thereof that is secured on a pari passu   basis with the Obligations) pursuant to the terms of the documentation governing such Indebtedness with   the net proceeds of such Disposition or Casualty Event (such Permitted First Priority Refinancing Debt   (or Permitted Refinancing thereof) required to be offered to be so repurchased or prepaid, “Other Appli   cable Indebtedness”), then the Borrower may apply such Net Proceeds on a pro rata basis (determined   on the basis of the aggregate outstanding principal amount of the Term Loans and Other Applicable In   debtedness at such time; provided that the portion of such Net Proceeds allocated to the Other Applicable   Indebtedness shall not exceed the amount of such net proceeds required to be allocated to the Other Ap   plicable Indebtedness pursuant to the terms thereof; and the remaining amount, if any, of such net pro   ceeds shall be allocated to the Term Loans in accordance with the terms hereof) to the prepayment of the   Term Loans and to the repurchase or prepayment of Other Applicable Indebtedness, and the amount of   prepayment of the Term Loans that would have otherwise been required pursuant to this Sec   tion 2.05(b)(ii) shall be reduced accordingly; provided,further, that to the extent the holders of Other Ap   plicable Indebtedness decline to have such Other Applicable Indebtedness repurchased or prepaid, the   declined amount shall promptly (and in any event within ten (10) Business Days after the date of such   rejection) be applied to prepay the Term Loans in accordance with the terms hereof.   (iii) Jf the Borrower or any Restricted Subsidiary incurs or issues any Indebtedness after the   Closing Date (A) not permitted to be incurred or issued pursuant to Section 7.03 or (B) that is intended to   constitute Credit Agreement Refinancing Indebtedness, the Borrower shall cause to be prepaid an aggre   gate principal amount of Term Loans in an amount equal to 1000o of all Net Proceeds received therefrom   on or prior to the date which is five (5) Business Days after the receipt by the Borrower or such Restricted   Subsidiary of such Net Proceeds.   (iv) [Reservedi.   (v) Except with respect to Loans incurred in connection with any Refinancing Amendment,   Term Loan Extension Request or any Incremental Amendment (to the extent set forth in such Refinancing   Amendment, Term Loan Extension Request or Incremental Amendment), (A) each prepayment of Term   Loans pursuant to this Section 2.05(b) shall be applied ratably to each Class of Term Loans then outstand   ing (provided that (i) any prepayment of Term Loans with the Net Proceeds of Credit Agreement Refi   -71-    

 

nancing Indebtedness shall be applied solely to each applicable Class of Refinanced Debt, and (ii) any   Class of Incremental Term Loans may specify that one or more other Classes of Term Loans and Incre   mental Term Loans may be prepaid prior to such Class of Incremental Term Loans); (B) with respect to   each Class of Term Loans, each prepayment pursuant to clauses (i) through (iii) of this Section 2.05(b)   shall be applied to the scheduled installments of principal thereof following the date of prepayment pur   suant to Section 2.07 in direct order of maturity; provided that, for the avoidance of doubt, the prepay   ments of Loans occurring on the Amendment No. 1 Effective Date shall not be deemed a “prepayment”   for purposes of this clause; and (C) each such prepayment shall be paid to the Lenders in accordance with   their respective Pro Rata Shares of such prepayment.   (vi) The Borrower shall notify the Administrative Agent in writing of any mandatory pre   payment of Term Loans required to be made by the Borrower pursuant to clauses (i) through (iii) of this   Section 2.05(b) at least three (3) Business Days prior to the date of such prepayment. Each such notice   shall specify the date of such prepayment and provide a reasonably detailed calculation of the aggregate   amount of such prepayment to be made by the Borrower. The Administrative Agent will promptly notify   each Appropriate Lender of the contents of the Borrower’s prepayment notice and of such Appropriate   Lender’s Pro Rata Share of the prepayment. Each Term Lender may reject all or a portion of its Pro Rata   Share of any mandatory prepayment (such declined amounts, the “Declined Proceeds”) of Term Loans   required to be made pursuant to clauses (i), (ii) and (iii) of this Section 2.05(b) by providing written notice   (each, a “Rejection Notice”) to the Administrative Agent and the Borrower no later than 5:00 p.m. one   Business Day after the date of such Lender’s receipt of notice from the Administrative Agent regarding   such prepayment. Each Rejection Notice from a given Lender shall specify the principal amount of the   mandatory repayment of Term Loans to be rejected by such Lender. If a Term Lender fails to deliver a   Rejection Notice to the Administrative Agent within the time frame specified above or such Rejection   Notice fails to specify the principal amount of the Term Loans to be rejected, any such failure will be   deemed an acceptance of the total amount of such mandatory prepayment of Term Loans. Any Declined   Proceeds shall be retained by the Borrower.   (vii) Foreign Dispositions. Notwithstanding any other provisions of this Section 2.05, (i) to   the extent that any of or all the Net Proceeds of any Disposition by a Foreign Subsidiary (“Foreign Dis   position”) or Excess Cash Flow attributable to Foreign Subsidiaries are prohibited or delayed by applica   ble local law from being repatriated to the United States, the portion of such Net Proceeds or Excess Cash   Flow so affected will not be required to be applied to repay Term Loans at the times provided in this Sec   tion 2.05 but may be retained by the applicable Foreign Subsidiary so long, but only so long, as the appli   cable local law will not permit repatriation to the United States (the Borrower hereby agreeing to cause   the applicable Foreign Subsidiary to promptly take all actions required by the applicable local law to per   mit such repatriation), and once such repatriation of any of such affected Net Proceeds or Excess Cash   Flow is permitted under the applicable local law, such repatriation will be immediately effected and such   repatriated Net Proceeds or Excess Cash Flow will be promptly (and in any event not later than two Busi   ness Days after such repatriation) applied (net of additional taxes payable or reserved against as a result   thereof) to the repayment of the Term Loans pursuant to this Section 2.05 and (ii) to the extent that the   Borrower has determined in good faith that repatriation of any of or all the Net Proceeds of any Foreign   Disposition or Foreign Subsidiary Excess Cash Flow would have material adverse tax cost consequences   with respect to such Net Proceeds or Excess Cash Flow, such Net Proceeds or Excess Cash Flow so af   fected may be retained by the applicable Foreign Subsidiary; provided that, in the case of this clause (ii),   on or before the date on which any such Net Proceeds so retained would otherwise have been required to   be applied to reinvestments or prepayments pursuant to this Section 2.05(b) or any such Excess Cash   Flow would have been required to be applied to prepayments pursuant to this Section 2.05(b), the Bor   rower may apply an amount equal to such Net Proceeds or Excess Cash Flow to such reinvestments or   prepayments, as applicable, as if such Net Proceeds or Excess Cash Flow had been received by the Bor   -72-    

 

rower rather than such Foreign Subsidiary, less the amount of additional taxes that would have been pay   able or reserved against if such Net Proceeds or Excess Cash Flow had been repatriated (or, if less, the   Net Proceeds or Excess Cash Flow that would be calculated if received by such Foreign Subsidiary).   (viii) If the Split Brands (or any portion thereof) have not been acquired by Holdings   by July 31, 2012 (the “Spilt Brands Cutoff Date”), the Borrower shall cause to be prepaid an aggregate   principal amount of Term Loans in an amount equal to $45,000,000, or such lesser amount as constitutes   the ratable portion of such $45,000,000 allocable as of the date of the Acquisition Agreement to the Split   Brands not purchased based on a customary economic metric to be agreed with the Administrative Agent,   on or prior to the date which is five (5) Business Days after the Split Brands Cutoff Date (or such later   date that is the last day of the next concluding Interest Period for any Loans).   (c) Interest, Funding Losses, Etc. All prepayments under this Section 2.05 shall be accom   panied by all accrued interest thereon, together with, in the case of any such prepayment of a Eurocurren   cy Rate Loan on a date prior to the last day of an Interest Period therefor, any amounts owing in respect of   such Eurocurrency Rate Loan pursuant to Section 3.05.   Notwithstanding any of the other provisions of this Section 2.05, so long as no Event of Default   shall have occurred and be continuing, if any prepayment of Eurocurrency Rate Loans is required to be   made under this Section 2.05, prior to the last day of the Interest Period therefor, in lieu of making any   payment pursuant to this Section 2.05 in respect of any such Eurocurrency Rate Loan prior to the last day   of the Interest Period therefor, the Borrower may, in their sole discretion, deposit an amount sufficient to   make any such prepayment otherwise required to be made thereunder together with accrued interest to the   last day of such Interest Period into a Cash Collateral Account until the last day of such Interest Period, at   which time the Administrative Agent shall be authorized (without any further action by or notice to or   from the Borrower or any other Loan Party) to apply such amount to the prepayment of such Loans in   accordance with this Section 2.05. Upon the occurrence and during the continuance of any Event of De   fault, the Administrative Agent shall also be authorized (without any further action by or notice to or from   the Borrower or any other Loan Party) to apply such amount to the prepayment of the outstanding Loans   in accordance with the relevant provisions of this Section 2.05. Such deposit shall be deemed to be a pre   payment of such Loans by the Borrower for all purposes under this Agreement.   Section 2.06 Termination or Reduction of Commitments.   The Term B Commitment of each Term Lender shall be automatically and permanently reduced   to $0 upon the funding of Term B Loans to be made by it on the Closing Date. The Term B-l Commit   ment of each Additional Term B-i Lender shall be automatically terminated on the Amendment No. 1   Effective Date upon the borrowing of the Additional Term B- 1 Loans on such date. The Term B-2   Commitment of each Term B 2 Lender shall be automaticall terminated on the Amendment No. 2 Effec   tive Date u n the borrowin of the Term B 2 Loans on such date.   Section 2.07 Repayment of Loans.   (a) The Borrower shall repay to the Administrative Agent for the ratable account of the Ap   propriate Lenders (which Appropriate Lenders shall, for the avoidance of doubt, constitute the Lenders   holding Term B-i Loans) (A) on the last Business Day of each March, June, September and December,   commencing with the first full quarter after the Closing Date, an aggregate principal amount equal to   0.25° o of the aggregate principal amount of all Term B-i Loans outstanding on the Closing Date (which   I payments shall be reduced as a result of the application of prepayments o Term B-I Loans in accordance   -73-    

 

with the order of priority set forth in Section 2.05) and (B) on the Maturity Date for the Term B-i Loans,   the aggregate principal amount of all Term B-i Loans outstanding on such date.   (N The Borrower shall repay to the Administrative Agent for the ratable account of the Ap   ro date Lenders which A ro date Lenders shall for the avoidance of doubt constitute the Lenders   holding Term B-2 Loans) (A) on the last Business Day of each March. June. September and December.   commencing with the first full quarter after the Amendment No. 2 Effective Date, an aggregate princinal   amount ual to O.25°o of the a ate nnci al amount of all Term B-2 Loans outstandin on the   Amendment No. 2 Effective Date (which payments shall be reduced as a res lt of the application of pre   ents to Term B-2 Loans in accordance with the order of non set forth in Section 2.05 and B   on he Maturity Date for the Term B-2 Loans, the aggregate pnncipal amount of all Term B-2 Loans, as   a licable outstandin on such date.   Section 2.08 Interest.   (a) Subject to the provisions of Section 2.08(b), (i) each Eurocurrency Rate Loan shall bear   interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to   the Eurocurrency Rate, for such Interest Period plus the Applicable Rate and (ii) each Base Rate Loan   shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a   rate per annum equal to the Base Rate plus the Applicable Rate.   (b) During the continuance of a Default under Section 8.01(a), the Borrower shall pay inter   est on past due amounts owing by it hereunder at a fluctuating interest rate per annum at all times equal to   the Default Rate to the fullest extent permitted by applicable Laws. Accrued and unpaid interest on such   amounts (including interest on past due interest) shall be due and payable upon demand.   (c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date   applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and   payable in accordance with the terms hereof before and after judgment, and before and after the com   mencement of any proceeding under any Debtor Relief Law.   Section 2.09 Fees.   (a) Other Fees. The Borrower shall pay to the Agents such fees as shall have been   separately agreed upon in writing in the amounts and at the times so specified. Such fees shall be   fully earned when paid and shall not be refundable for any reason whatsoever (except as express   ly agreed between the Borrower and the applicable Agent).   (b) Closing Fees. The Borrower agrees to pay on the Closing Date to each Lender   party to this Agreement on the Closing Date, as fee compensation for the funding of such Lend   er’s Term Loan, a closing fee (the “Closing Fee”) in an amount equal to 1.5000 of the stated prin   cipal amount of such Lender’s Term Loan made on the Closing Date. Such Closing Fee will be   in all respects fully earned, due and payable on the Closing Date and non-refundable and non-   creditable thereafter and, in the case of the Term Loans, such Closing Fee shall be netted against   Term Loans made by such Lender.   c Term B-2 Loan Fundin Fee. The Borrower a es to a on the Amendment   No 2 Effective Date to each Term B-2 Lender art to the Amendment No. 2 Joinder as fee   compensation for the funding of such Lender’s Term B-2 Loan, a funding fee (the “Amendment   No.2 FunWn Fee” in an amount e ual to 0.500 0 of the stated nnci I amount of such Lend   -74-    

 

er’s Term B-2 Loans funded on the Amendment No.2 Effective Date Such Amendment No. 2   Funding Fee wil be in all respects fully earned, due and payable on the Amendment No. 2 Effec   tive Date and non-refundable and non-creditable thereafter and shall be netted a ainsi Term B-2   Loans made b such Term B-2 Lender.   Section 2.10 Computation of Interest and Fees.   All computations of interest for Base Rate Loans (including Base Rate Loans determined by ref   erence to the Eurocurrency Rate) shall be made on the basis of a year of three hundred and sixty-five   (365) days, or three hundred and sixty-six (366) days, as applicable, and actual days elapsed. All other   computations of fees and interest shall be made on the basis of a three hundred and sixty (360) day year   and actual days elapsed. Interest shall accrue on each Loan for the day on which the Loan is made, and   shall not accrue on a Loan, or any portion thereof; for the day on which the Loan or such portion is paid;   provided that any Loan that is repaid on the same day on which it is made shall, subject to Sec   tion 2.12(a), bear interest for one (1) day. Each determination by the Administrative Agent of an interest   rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.   Section 2.11 Evidence of Indebtedness.   (a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts   or records maintained by such Lender and evidenced by one or more entries in the Register maintained by   the Administrative Agent, acting solely for purposes of Treasury Regulation Section 5f. 103-1(c), as agent   for the Borrower, in each case in the ordinary course of business. The accounts or records maintained by   the Administrative Agent and each Lender shall be prima facie evidence absent manifest error of the   amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments   thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the   obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the   event of any conflict between the accounts and records maintained by any Lender and the accounts and   records of the Administrative Agent in respect of such matters, the accounts and records of the Adminis   trative Agent shall control in the absence of manifest error. Upon the request of any Lender made   through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the   Administrative Agent) a Term Note payable to such Lender, which shall evidence such Lender’s Loans in   addition to such accounts or records. Each Lender may attach schedules to its Term Note and endorse   thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect there   to.   (b) [Reserved].   (c) Entries made in good faith by the Administrative Agent in the Register pursuant to Sec   tion 2.11(a), and by each Lender in its account or accounts pursuant to Section 2.11(a), shall be prima   fade evidence of the amount of principal and interest due and payable or to become due and payable from   the Borrower to, in the case of the Register, each Lender and, in the case of such account or accounts,   such Lender, under this Agreement and the other Loan Documents, absent manifest error; provided that   the failure of the Administrative Agent or such Lender to make an entry, or any finding that an entry is   incorrect, in the Register or such account or accounts shall not limit or otherwise affect the obligations of   the Borrower under this Agreement and the other Loan Documents.    

 

Section 2.12 Payments Generally.   (a) All payments to be made by the Borrower shall be made without condition or deduction   for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all   payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the   respective Lenders to which such payment is owed, at the applicable Administrative Agent’s Office in   Dollars and in Same Day Funds not later than 2:00 p.m. on the date specified herein. The Administrative   Agent will promptly distribute to each Appropriate Lender its Pro Rata Share (or other applicable share   provided for under this Agreement) of such payment in like funds as received by wire transfer to such   Lender’s applicable Lending Office. All payments received by the Administrative Agent after 2:00 p.m.,   shall in each case be deemed received on the next succeeding Business Day and any applicable interest or   fee shall continue to accrue.   (b) If any payment to be made by the Borrower shall come due on a day other than a Busi   ness Day, payment shall be made on the next following Business Day, and such extension of time shall be   reflected in computing interest or fees, as the case may be; provided that, if such extension would cause   payment of interest on or principal of Eurocurrency Rate Loans to be made in the next succeeding calen   dar month, such payment shall be made on the immediately preceding Business Day.   (c) Unless the Borrower or any Lender has notified the Administrative Agent, prior to the   date any payment is required to be made by it to the Administrative Agent hereunder, that the Borrower   or such Lender, as the case may be, will not make such payment, the Administrative Agent may assume   that the Borrower or such Lender, as the case may be, has timely made such payment and may (but shall   not be so required to), in reliance thereon, make available a corresponding amount to the Person entitled   thereto. If and to the extent that such payment was not in fact made to the Administrative Agent in Same   Day Funds, then:   (i) if the Borrower failed to make such payment, each Lender shall forthwith on de   mand repay to the Administrative Agent the portion of such assumed payment that was made   available to such Lender in Same Day Funds, together with interest thereon in respect of each day   from and including the date such amount was made available by the Administrative Agent to such   Lender to the date such amount is repaid to the Administrative Agent in Same Day Funds at the   applicable Overnight Rate from time to time in effect; and   (ii) if any Lender failed to make such payment, such Lender shall forthwith on de   mand pay to the Administrative Agent the amount thereof in Same Day Funds, together with in   terest thereon for the period from the date such amount was made available by the Administrative   Agent to the Borrower to the date such amount is recovered by the Administrative Agent (the   “Compensation Period”) at a rate per annum equal to the applicable Overnight Rate from time   to time in effect. When such Lender makes payment to the Administrative Agent (together with   all accrued interest thereon), then such payment amount (excluding the amount of any interest   which may have accrued and been paid in respect of such late payment) shall constitute such   Lender’s Loan included in the applicable Borrowing. If such Lender does not pay such amount   forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent may make   a demand therefor upon the Borrower, and the Borrower shall pay such amount to the Adminis   trative Agent, together with interest thereon for the Compensation Period at a rate per annum   equal to the rate of interest applicable to the applicable Borrowing. Nothing herein shall be   deemed to relieve any Lender from its obligation to fulfill its Commitment or to prejudice any   rights which the Administrative Agent or the Borrower may have against any Lender as a result   of any default by such Lender hereunder.   -76-    

 

A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount   owing under this Section 2.12(c) shall be conclusive, absent manifest error.   (d) If any Lender makes available to the Administrative Agent funds for any Loan to be   made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not   made available to the Borrower by the Administrative Agent because the conditions to the applicable   Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof,   the Administrative Agent shall return such funds (in like funds as received from such Lender) to such   Lender, without interest.   (e) Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan   in any particular place or manner or to constitute a representation by any Lender that it has obtained or   will obtain the funds for any Loan in any particular place or manner.   (f) Whenever any payment received by the Administrative Agent under this Agreement or   any of the other Loan Documents is insufficient to pay in full all amounts due and payable to the Admin   istrative Agent and the Lenders under or in respect of this Agreement and the other Loan Documents on   any date, such payment shall be distributed by the Administrative Agent and applied by the Administra   tive Agent and the Lenders in the order of priority set forth in Section 8.03. If the Administrative Agent   receives funds for application to the Obligations of the Loan Parties under or in respect of the Loan Doc   uments under circumstances for which the Loan Documents do not specify the manner in which such   funds are to be applied, the Administrative Agent may (to the fullest extent permitted by mandatory pro   visions of applicable Law), but shall not be obligated to, elect to distribute such funds to each of the   Lenders in accordance with such Lender’s Pro Rata Share of the Outstanding Amount of all Loans out   standing at such time in repayment or prepayment of such of the outstanding Loans or other Obligations   then owing to such Lender.   Section 2.13 Sharing of Payments.   If, other than as expressly provided elsewhere herein, any Lender shall obtain payment in respect   of any principal or interest on account of the Loans made by it any payment (whether voluntary, involun   tary, through the exercise of any right of setoff, or otherwise) in excess of its ratable share (or other share   contemplated hereunder) thereot such Lender shall immediately (a) notify the Administrative Agent of   such fact, and (b) purchase from the other Lenders such participations in the Loans made by them as shall   be necessary to cause such purchasing Lender to share the excess payment in respect of any principal or   interest on such Loans or such participations, as the case may be, pro rata with each of them; provided   that if all or any portion of such excess payment is thereafter recovered from the purchasing Lender under   any of the circumstances described in Section 10.06 (including pursuant to any settlement entered into by   the purchasing Lender in its discretion), such purchase shall to that extent be rescinded and each other   Lender shall repay to the purchasing Lender the purchase price paid therefor, together with an amount   equal to such paying Lender’s ratable share (according to the proportion of (i) the amount of such paying   Lender’s required repayment to (ii) the total amount so recovered from the purchasing Lender) of any   interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recov   ered, without further interest thereon. For avoidance of doubt, the provisions of this paragraph shall not   be construed to apply to (A) any payment made by the Borrower pursuant to and in accordance with the   express terms of this Agreement as in effect from time to time or (B) any payment obtained by a Lender   as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or par   ticipant permitted hereunder. The Borrower agrees that any Lender so purchasing a participation from   another Lender may, to the fullest extent permitted by applicable Law, exercise all its rights of payment   (including the right of setoff, but subject to Section 10.09) with respect to such participation as fully as if   -77-    

 

such Lender were the direct creditor of the Borrower in the amount of such participation. The Adminis   trative Agent will keep records (which shall be conclusive and binding in the absence of manifest error)   of participations purchased under this Section 2.13 and will in each case notify the Lenders following any   such purchases or repayments. Each Lender that purchases a participation pursuant to this Section 2.13   shall from and after such purchase have the right to give all notices, requests, demands, directions and   other communications under this Agreement with respect to the portion of the Obligations purchased to   the same extent as though the purchasing Lender were the original owner of the Obligations purchased.   Section 2.14 Incremental Credit Extensions.   (a) Incremental Commitments. The Borrower may at any time or from time to time after the   Closing Date, by notice to the Administrative Agent (an “Incremental Loan Request”), request one or   more new commitments which may be in the same Facility as any outstanding Term Loans (a “Term   Loan Increase”) or a new Class of term loans (collectively with any Term Loan Increase, the “Incre   mental Commitments”), whereupon the Administrative Agent shall promptly deliver a copy to each of   the Lenders.   (b) Incremental Loans. Any Incremental Term Loans effected through the establishment of   new Term Loans made on an Incremental Facility Closing Date shall be designated a separate Class of   Incremental Term Loans for all purposes of this Agreement. On any Incremental Facility Closing Date   on which any Incremental Commitments of any Class are effected (including through any Term Loan In-   crease), subject to the satisfaction of the terms and conditions in this Section 2.14, (i) each Incremental   Lender of such Class shall make a Loan to the Borrower (an “Incremental Term Loan”) in an amount   equal to its Incremental Commitment of such Class and (ii) each Incremental Lender of such Class shall   become a Lender hereunder with respect to the Incremental Commitment of such Class and the Incremen   tal Term Loans of such Class made pursuant thereto. Notwithstanding the foregoing, Incremental Term   Loans may have identical terms to any of the Term Loans and be treated as the same Class as any of such   Term Loans.   (c) Incremental Loan Request. Each Incremental Loan Request from the Borrower pursuant   to this Section 2.14 shall set forth the requested amount and proposed terms of the relevant Incremental   Term Loans. Incremental Term Loans may be made by any existing Lender (but each existing Lender   will not have an obligation to make any Incremental Commitment, nor will the Borrower have any obliga   tion to approach any existing lenders to provide any Incremental Commitment) or by any other bank or   other financial institution (any such other bank or other financial institution being called an “Additional   Lender”) (each such existing Lender or Additional Lender providing such, an “Incremental Lender”);   provided that the Administrative Agent shall have consented (not to be unreasonably withheld or delayed)   to such Lender’s or Additional Lender’s making such Incremental Term Loans to the extent such consent,   if any, would be required under Section 10.07(b) for an assignment of Loans to such Lender or Additional   Lender.   (d) Effectiveness ofIncremental Amendment. The effectiveness of any Incremental Amend   ment, and the Incremental Commitments thereunder, shall be subject to the satisfaction on the date there   of (the “Incremental Facility Closing Date”) of each of the following conditions:   (i) no Default or Event of Default shall exist after giving effect to such Incremental   Commitments and Incremental Loans made pursuant thereto on the Incremental Facility Closing   Date;   -78-    

 

(ii) after giving effect to such Incremental Commitments, the conditions of Sec   tion 4.02(i) shall be satisfied (it being understood that all references to “the date of such Credit   Extension” or similar language in such Section 4.02(i) shall be deemed to refer to the effective   date of such Incremental Amendment); provided that for purposes of satisfying Section 4.02(1),   only the Specified Representations shall be required to be true and correct to the extent the pro   ceeds of such Incremental Loans are used to consummate a Permitted Acquisition;   (iii) the Borrower and its Restricted Subsidiaries shall be in compliance with the cov   enants set forth in Section 7.11, determined on a Pro Forma Basis as of the Incremental Facility   Closing Date and the last day of the most recently ended Test Period (or, if no Test Period cited in   Section 7.11 has passed, the covenants in Section 7.11 for the first Test Period cited in such Sec   tion shall be satisfied as of the last four quarters ended), in each case, as if any Incremental Term   Loans available under such Incremental Commitments had been outstanding on the last day of   such fiscal quarter of the Borrower for testing compliance therewith;   (iv) each Incremental Term Commitment shall be in an aggregate principal amount   that is not less than $15,000,000 and shall be in an increment of $1,000,000 (provided that such   amount may be less than $15,000,000 if such amount represents all remaining availability under   the limit set forth in the following clause (vfl; and   (v) the aggregate amount of the Incremental Term Loans incurred after the Amend   ment No. 2 Effective Date shall not exceed (A) (1) $2250,000,000 minus (2) the aggregate   amount of all secured Permitted Ratio Debt incurred by the Borrower and its Restricted Subsidi   aries pursuant to Section 7.03(s) minus (3) the aggregate amount of incremental commitments   that shall have become effective under the ABL Facility after the Closing Date and (BAmend   ment No. 2 Effective Date. (B~ all voluntary prepayments of Term Loans and all voluntary per   manent commitment reductions of the ABL Facili that are not in each case financed with the   proceeds of any Indebtedness and (C) an additional amount of Incremental Term Loans so long as   the Consolidated First Lien Net Leverage Ratio is no more than 4.00 to 1.00 as of the last day of   the most recently ended period of four fiscal quarters of the Borrower for which financial state   ments are internally available, determined on the applicable Incremental Facility Closing Date,   after giving effect to any such incurrence on a Pro Forma Basis, and excluding from clause (x) of   the definition of Consolidated First Lien Net Leverage Ratio the cash proceeds of any such In   cremental Term Loans.   (e) Required Terms. The terms, provisions and documentation of the Incremental Term   Loans and Incremental Commitments of any Class shall be as agreed between the Borrower and the ap   plicable Incremental Lenders providing such Incremental Commitments, and except as otherwise set forth   herein, to the extent not identical to the Term Loans existing on the Incremental Facility Closing Date,   shall be reasonably satisfactory to Administrative Agent. In any event:   (i) the Incremental Term Loans:   (A) shall (x) rank pan passu in right of payment and of security with and   (y) have the same Guarantees as the Term Loans,   (B) shall not mature earlier than the Latest Maturity Date of any Term Loans   outstanding at the time of incurrence of such Incremental Term Loans,    

 

(C) shall have a Weighted Average Life to Maturity not shorter than the re   maining Weighted Average Life to Maturity of then-existing Term Loans,   (D) shall have an Applicable Rate, and subject to clauses (e)(i)(B) and   (e)(i)(C) above and clause (e)(iii) below, amortization determined by the Borrower and   the applicable Incremental Lenders, and   (E) the Incremental Term Loans may participate on a pro rata basis or less   than pro rata basis (but not on a greater than pro rata basis) in any voluntary or mandatory   prepayments of Term Loans hereunder, as specified in the applicable Incremental   Amendment;   (ii) [Reserved];   (iii) the amortization schedule (subject to clause (0(C) above) applicable to any In   cremental Loans and the All-In Yield applicable to the Incremental Term Loans of each Class   shall be determined by the Borrower and the applicable new Lenders and shall be set forth in each   applicable Incremental Amendment; provided, however, that with respect to any Loans made un   der Incremental Commitments, the All-In Yield applicable to such Incremental Term Loans shall   not be greater than the applicable All-In Yield payable pursuant to the terms of this Agreement as   amended through the date of such calculation with respect to outstanding Term Loans plus 50 ba   sis points per annum unless the Applicable Rate (together with, as provided in the proviso below,   the Eurocurrency floor or Base Rate floor) with respect to the Term Loans is increased so as to   cause the then applicable All-In Yield under this Agreement on each outstanding Class of Term   Loans to equal the All-In Yield then applicable to the Incremental Term Loans minus 50 basis   points; provided that any increase in All-In Yield to any existing Term Loan due to the applica   tion of a Eurocurrency floor or Base Rate floor higher than 1.2500% or 2.2500%, respectively, on   any Incremental Term Loan shall be effected solely through an increase in (or implementation of;   as applicable) any Eurocurrency floor or Base Rate floor applicable to such existing Term Loan.   (t) IncrernentalAmendment. Commitments in respect of Incremental Term Loans shall be   come Commitments under this Agreement pursuant to an amendment (an “Incremental Amendment”)   to this Agreement and, as appropriate, the other Loan Documents, executed by the Borrower, each Incre   mental Lender providing such Commitments and the Administrative Agent. The Incremental Amend   ment may, without the consent of any other Loan Party, Agent or Lender, effect such amendments to this   Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion   of the Administrative Agent and the Borrower, to effect the provisions of this Section 2.14. The Borrow   er will use the proceeds of the Incremental Term Loans for any purpose not prohibited by this Agreement.   No Lender shall be obligated to provide any Incremental Term Loans, unless it so agrees.   (g) [Reserved].   (h) This Section 2.14 shall supersede any provisions in Section 2.13 or 10.01 to the contrary.   Section 2.15 Refinancing Amendments.   (a) On one or more occasions after the Closing Date, the Borrower may obtain, from any   Lender or any Additional Refinancing Lender, Credit Agreement Refinancing Indebtedness in respect of   all or any portion of the Term Loans then outstanding under this Agreement (which for purposes of this   clause (a) will be deemed to include any then outstanding Other Term Loans or Incremental Term Loans)   -80-    

 

in the form of Other Term Loans or Other Term Loan Commitments pursuant to a Refinancing Amend   ment.   (b) The effectiveness of any Refinancing Amendment shall be subject to the satisfaction on   the date thereof of each of the conditions set forth in Section 4.02 and, to the extent reasonably requested   by the Administrative Agent, receipt by the Administrative Agent of (i) customary legal opinions, board   resolutions and officers’ certificates consistent with those delivered on the Closing Date other than chang   es to such legal opinion resulting from a change in law, change in fact or change to counsel’s form of   opinion reasonably satisfactory to the Administrative Agent and (ii) reaffirmation agreements and/or such   amendments to the Collateral Documents as may be reasonably requested by the Administrative Agent in   order to ensure that such Credit Agreement Refinancing Indebtedness is provided with the benefit of the   applicable Loan Documents.   (c) Each issuance of Credit Agreement Refinancing Indebtedness under Section 2.15(a) shall   be in an aggregate principal amount that is (x) not less than $15,000,000 and (y) an integral multiple of   $1,000,000 in excess thereof.   (d) Each of the parties hereto hereby agrees that this Agreement and the other Loan Docu   ments may be amended pursuant to a Refinancing Amendment, without the consent of any other Lenders,   to the extent (but only to the extent) necessary to (i) reflect the existence and terms of the Credit Agree   ment Refinancing Indebtedness incurred pursuant thereto and (ii) make such other changes to this Agree   ment and the other Loan Documents consistent with the provisions and intent of the third paragraph of   Section 10.01 (without the consent of the Required Lenders called for therein) and (iii) effect such other   amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the   reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this Section   2.15, and the Required Lenders hereby expressly authorize the Administrative Agent to enter into any   such Refinancing Amendment.   Section 2.16 Extension of Term Loans.   (a) Extension of Term Loans. The Borrower may at any time and from time to time request   that all or a portion of the Term Loans of a given Class (each, an “Existing Term Loan Tranche”) be   amended to extend the scheduled maturity date(s) with respect to all or a portion of any principal amount   of such Term Loans (any such Term Loans which have been so amended, “Extended Term Loans”) and   to provide for other terms consistent with this Section 2.16. In order to establish any Extended Term   Loans, the Borrower shall provide a notice to the Administrative Agent (who shall provide a copy of such   notice to each of the Lenders under the applicable Existing Term Loan Tranche) (each, a “Term Loan   Extension Request”) setting forth the proposed terms of the Extended Term Loans to be established,   which shall (x) be identical as offered to each Lender under such Existing Term Loan Tranche (including   as to the proposed interest rates and fees payable) and offered pro rata to each Lender under such Existing   Term Loan Tranche and (y) be identical to the Term Loans under the Existing Term Loan Tranche from   which such Extended Term Loans are to be amended, except that: (i) all or any of the scheduled amorti   zation payments of principal of the Extended Term Loans may be delayed to later dates than the sched   uled amortization payments of principal of the Term Loans of such Existing Term Loan Tranche, to the   extent provided in the applicable Extension Amendment; provided, however, that at no time shall there be   Classes of Term Loans hereunder (including Refinancing Term Loans and Extended Term Loans) which   have more than four (4) different Maturity Dates; (ii) the Effective Yield with respect to the Extended   Term Loans (whether in the form of interest rate margin, upfront fees, original issue discount or other   wise) may be different than the Effective Yield for the Term Loans of such Existing Term Loan Tranche,   in each case, to the extent provided in the applicable Extension Amendment; (iii) the Extension Amend-   -81-    

 

ment may provide for other covenants and terms that apply solely to any period afier the Latest Maturity   Date that is in effect on the effective date of the Extension Amendment (immediately prior to the estab   lishment of such Extended Term Loans); and (iv) Extended Term Loans may have call protection as may   be agreed by the Borrower and the Lenders thereof~ provided that no Extended Term Loans may be op   tionally prepaid prior to the date on which all Term Loans with an earlier final stated maturity (including   Term Loans under the Existing Term Loan Tranche from which they were amended) are repaid in fUll,   unless such optional prepayment is accompanied by a pro rata optional prepayment of such other Term   Loans; provided, however, that (A) no Default shall have occurred and be continuing at the time a Term   Loan Extension Request is delivered to Lenders, (B) in no event shall the final maturity date of any Ex   tended Term Loans of a given Term Loan Extension Series at the time of establishment thereof be earlier   than the then Latest Maturity Date of any other Term Loans hereunder, (C) the Weighted Average Life to   Maturity of any Extended Term Loans of a given Term Loan Extension Series at the time of establish   ment thereof shall be no shorter (other than by virtue of amortization or prepayment of such Indebtedness   prior to the time of incurrence of such Extended Term Loans) than the remaining Weighted Average Life   to Maturity of any Existing Term Loan Tranche, (D) any such Extended Term Loans (and the Liens se   curing the same) shall be permitted by the terms of the Intercreditor Agreements (to the extent any Inter-   creditor Agreement is then in effect), (E) all documentation in respect of such Extension Amendment   shall be consistent with the foregoing and (F) any Extended Term Loans may participate on a pro rata   basis or less than a pro rata basis (but not greater than a pro rata basis) in any voluntary or mandatory re   payments or prepayments hereunder, in each case as specified in the respective Term Loan Extension Re   quest. Any Extended Term Loans amended pursuant to any Term Loan Extension Request shall be desig   nated a series (each, a “Term Loan Extension Series”) of Extended Term Loans for all purposes of this   Agreement; provided that any Extended Term Loans amended from an Existing Term Loan Tranche may,   to the extent provided in the applicable Extension Amendment, be designated as an increase in any previ   ously established Term Loan Extension Series with respect to such Existing Term Loan Tranche. Each   Term Loan Extension Series of Extended Term Loans incurred under this Section 2.16 shall be in an ag   gregate principal amount that is not less than $35,000,000.   (b) [Reserved].   (c) Extension Request. The Borrower shall provide the applicable Term Loan Extension Re   quest at least five (5) Business Days prior to the date on which Lenders under the Existing Term Loan   Tranche are requested to respond, and shall agree to such procedures, if any, as may be established by, or   acceptable to, the Administrative Agent, in each case acting reasonably to accomplish the purposes of this   Section 2.16. No Lender shall have any obligation to agree to have any of its Term Loans of any Existing   Term Loan Tranche amended into Extended Term Loans pursuant to any Term Loan Extension Request.   Any Lender holding a Loan under an Existing Term Loan Tranche (each, an “Extending Term Lender”)   wishing to have all or a portion of its Term Loans under the Existing Term Loan Tranche subject to such   Term Loan Extension Request amended into Extended Term Loans shall notify the Administrative Agent   (each, an “Extension Election”) on or prior to the date specified in such Term Loan Extension Request of   the amount of its Term Loans under the Existing Term Loan Tranche which it has elected to request be   amended into Extended Term Loans (subject to any minimum denomination requirements imposed by the   Administrative Agent). In the event that the aggregate principal amount of Term Loans under the Exist   ing Term Loan Tranche in respect of which applicable Term Lenders shall have accepted the relevant   Term Loan Extension Request exceeds the amount of Extended Term Loans requested to be extended   pursuant to the Term Loan Extension Request, Term Loans subject to Extension Elections shall be   amended to Extended Term Loans on a pro rata basis (subject to rounding by the Administrative Agent,   which shall be conclusive) based on the aggregate principal amount of Term Loans included in each such   Extension Election.   -82-    

 

(d) Extension Amendment. Extended Term Loans shall be established pursuant to an   amendment (each, a “Extension Amendment”) to this Agreement among the Borrower, the Administra   tive Agent and each Extending Term Lender providing an Extended Term Loan thereunder, which shall   be consistent with the provisions set forth in Section 2.16(a) above, respectively (but which shall not re   quire the consent of any other Lender). The effectiveness of any Extension Amendment shall be subject   to the satisfaction on the date thereof of each of the conditions set forth in Section 4.02 and, to the extent   reasonably requested by the Administrative Agent, receipt by the Administrative Agent of (i) legal opin   ions, board resolutions and officers’ certificates consistent with those delivered on the Closing Date other   than changes to such legal opinion resulting from a change in law, change in fact or change to counsel’s   form of opinion reasonably satisfactory to the Administrative Agent and (ii) reaffirmation agreements   and/or such amendments to the Collateral Documents as may be reasonably requested by the Administra   tive Agent in order to ensure that the Extended Term Loans are provided with the benefit of the applicable   Loan Documents. The Administrative Agent shall promptly notify each Lender as to the effectiveness of   each Extension Amendment. Each of the parties hereto hereby agrees that this Agreement and the other   Loan Documents may be amended pursuant to an Extension Amendment, without the consent of any oth   er Lenders, to the extent (but only to the extent) necessary to (i) reflect the existence and terms of the Ex   tended Term Loans incurred pursuant thereto, (ii) modify the scheduled repayments set forth in Sec   tion 2.07 with respect to any Existing Term Loan Tranche subject to an Extension Election to reflect a   reduction in the principal amount of the Term Loans thereunder in an amount equal to the aggregate prin   cipal amount of the Extended Term Loans amended pursuant to the applicable Extension (with such   amount to be applied ratably to reduce scheduled repayments of such Term Loans required pursuant to   Section 2.07), (iii) modify the prepayments set forth in Section 2.05 to reflect the existence of the Extend   ed Term Loans and the application of prepayments with respect thereto, (iv) make such other changes to   this Agreement and the other Loan Documents consistent with the provisions and intent of the second   paragraph of Section 10.01 (without the consent of the Required Lenders called for therein) and (v) effect   such other amendments to this Agreement and the other Loan Documents as may be necessary or appro   priate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of   this Section 2.16, and the Required Lenders hereby expressly authorize the Administrative Agent to enter   into any such Extension Amendment.   (e) No conversion of Loans pursuant to any Extension in accordance with this Section 2.16   shall constitute a voluntary or mandatory payment or prepayment for purposes of this Agreement.   ARTICLE III.   TAXES. INCREASED COSTS PROTECTION AND ILLEGALITY   Section 3.01 Taxes.   (a) Except as provided in this Section 3.01, any and all payments made by or on account of   the Borrower (the term Borrower under Article III being deemed to include any Subsidiary for whose ac   count a Letter of Credit is issued) or any Guarantor under any Loan Document shall be made free and   clear of and without deduction for any Taxes. If the Borrower, any Guarantor or other applicable with   holding agent shall be required by any Laws to deduct any Taxes from or in respect of any sum payable   under any Loan Document to any Agent or any Lender, (i) if the Tax in question is an Indemnified Tax or   Other Tax, the sum payable by the Borrower or applicable Guarantor shall be increased as necessary so   that after all required deductions have been made (including deductions applicable to additional sums   payable under this Section 3.01), each of such Agent and such Lender receives an amount equal to the   sum it would have received had no such deductions been made, (ii) the applicable withholding agent shall   make such deductions, (iii) the applicable withholding agent shall pay the full amount deducted to the   relevant taxation authority or other authority in accordance with applicable Laws, and (iv) within thirty   -83-    

 

(30) days after the date of such payment (or, if receipts or evidence are not available within thirty (30)   days, as soon as possible thereafter), if the Borrower or any Guarantor is the applicable withholding   agent, it shall furnish to such Agent or Lender (as the case may be) the original or a copy of a receipt evi   dencing payment thereof or other evidence acceptable to such Agent or Lender.   (b) In addition, the Borrower agrees to pay any and all present or future stamp, court or doc   umentary Taxes and any other excise, property, intangible or mortgage recording Taxes, imposed by any   Governmental Authority, which arise from the execution, delivery, performance, enforcement or registra   tion of; or otherwise with respect to, any Loan Document excluding, in each case, any such Tax imposed   as a result of an Agent or Lender’s Assignment and Assumption, grant of a participation, transfer or as   signment to or designation of a new applicable Lending Office or other office for receiving payments un   der any Loan Document (collectively, “Assignment Taxes”) (except for Assignment Taxes resulting   from an assignment, participation, etc., that is requested or required in writing by Borrower), but only to   the extent such Assignment Taxes are imposed as a result of a connection between the assignor, assignee,   participating lender or Participant (as applicable) and the jurisdiction imposing such Assignment Taxes   (other than any connection arising solely from executing, delivering, being a party to, engaging in any   transaction pursuant to, performing obligations under, receiving payments under, and/or enforcing, any   Loan Document) (all such non-excluded Taxes described in this Section 3.01(b) being hereinafter referred   to as “Other Taxes”).   (c) Without duplication of any amounts paid or to be paid pursuant to Section 3.0 1(a), the   Borrower and each Guarantor agree to indenmify each Agent and each Lender for (i) the full amount of   Indemnified Taxes imposed on or with respect to any amounts paid by or on account of the Borrower or   any Guarantor under any Loan Document and Other Taxes payable by such Agent or such Lender and (ii)   any expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legal   ly imposed or asserted by the Govermnental Authority. A certificate as to the amount of such payment or   liability prepared in good faith and delivered by such Agent or Lender (or by an Agent on behalf of such   Lender), accompanied by a written statement thereof setting forth in reasonable detail the basis and calcu   lation of such amounts shall be conclusive absent manifest error.   (d) Each Lender and Agent shall, at such times as are reasonably requested by the Borrower   or the Administrative Agent, provide the Borrower and the Administrative Agent with any documentation   prescribed by Law or reasonably requested by the Borrower or the Administrative Agent certifying as to   any entitlement of such Lender to an exemption from, or reduction in, withholding Tax with respect to   any payments to be made to such Lender under the Loan Documents. Each such Lender and Agent shall,   whenever a lapse in time or change in circumstances renders such documentation obsolete, invalid or in   accurate in any material respect, deliver promptly and on or before the date such documentation expires,   becomes obsolete, invalid or inaccurate to the Borrower and the Administrative Agent updated or other   appropriate documentation (including any new documentation reasonably requested by the Borrower or   the Administrative Agent) or promptly notify the Borrower and the Administrative Agent in writing of its   inability to do so. Unless the applicable withholding agent has received forms or other documents satis   factory to it indicating that payments under any Loan Document to or for a Lender are not subject to   withholding Tax or are subject to such Tax at a rate reduced by an applicable tax treaty, the applicable   withholding agent shall withhold amounts required to be withheld by applicable Law from such payments   at the applicable statutory rate. Notwithstanding any other provision of this clause (d), a Lender shall not   be required to deliver any documentation pursuant to this clause (d) that such Lender is not legally eligi   ble to deliver. Without limiting the foregoing:   (i) Each Lender that is a United States person (as defined in Section 7701(a)(30) of   the Code) shall deliver to the Borrower and the Administrative Agent on or before the date on   -84-    

 

which it becomes a party to this Agreement two properly completed and duly signed original cop   ies of Internal Revenue Service Form W-9 certif~’ing that such Lender is exempt fiom federal   backup withholding.   (ii) Each Lender that is not a United States person (as defined in Section 7701(a)(30)   of the Code) shall deliver to the Borrower and the Administrative Agent on or before the date on   which it becomes a party to this Agreement (and from time to time thereafter upon the request of   the Borrower or the Administrative Agent) whichever of the following is applicable:   (A) two properly completed and duly signed original copies of Internal Rev   enue Service Form W-8BEN (or any successor forms) claiming eligibility for the benefits   of an income tax treaty to which the United States is a party, and such other documenta   tion as required under the Code,   (B) two properly completed and duly signed original copies of Internal Rev   enue Service Form W-8ECI (or any successor forms),   (C) in the case of a Lender claiming the benefits of the exemption for portfo   lio interest under Section 881(c) of the Code, (A) a certificate substantially in the form of   Exhibit I hereto (any such certificate a “United States Tax Compliance Certificate”)   and (B) two properly completed and duly signed original copies of Internal Revenue Ser   vice Form W-8BEN (or any successor forms), or   (D) to the extent a Lender is not the beneficial owner (for example, where the   Lender is a partnership, or is a Lender that has transferred its beneficial interest to a Par   ticipant or SPC), Internal Revenue Service Form W-8IMY (or any successor forms) of   the Lender, accompanied by a Form W-8ECI, W-8BEN, United States Tax Compliance   Certificate, Form W-9, Form W-8IMY or any other required information from each bene   ficial owner, as applicable (provided that, if the Lender is a partnership and not a partici   pating Lender (or Lender transferring to an SPC) and one or more beneficial owners are   claiming the portfolio interest exemption, the United States Tax Compliance Certificate   may be provided by such Lender on behalf of such beneficial owner(s)).   (iii) Each Agent that is a United States person (as defined in Section 7701(a)(30)) of   the Code) shall deliver to the Borrower and the Administrative Agent two properly completed and   duly signed original copies of Internal Revenue Service Form W-9 with respect to fees received   on its own behalf, certi~ing that such Agent is exempt from U.S. federal backup withholding.   Each Agent that is not a United States person (as defined in Section 770 l(a)(30) of the Code)   shall deliver to the Borrower and the Administrative Agent two properly completed and duly   signed original copies of Internal Revenue Service Form W-8ECI with respect to fees received on   its own behalf   (e) If a payment made to any Person under any Loan Document would be subject to U.S.   federal withholding tax imposed by FATCA if such Person were to fail to comply with the applicable re   porting requirements of FATCA, such Person shall deliver to the Borrower and the Administrative Agent   at the time or times prescribed by Laws and at such time or times reasonably requested by the Borrower   or the Administrative Agent such documentation prescribed by applicable Laws and such additional doc   umentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for   the Borrower and the Administrative Agent to comply with their obligations under FATCA, to determine   -85-    

 

whether such Person has or has not complied with such Person’s obligations under FATCA and, if neces   san’, to determine the amount to deduct and withhold from such payment.   (f) Any Lender or Agent claiming any additional amounts payable pursuant to this Sec   tion 3.01 shall use its reasonable efforts to mitigate or reduce the additional amounts payable, which rea   sonable efforts may include a change in the jurisdiction of its Lending Office (or any other measures rea   sonably requested by the Borrower) if such a change or other measures would reduce any such additional   amounts (or any similar amount that may thereafter accrue) and would not, in the sole determination of   such Lender, result in any unreimbursed cost or expense or be otherwise disadvantageous to such Lender.   (g) If any Lender or Agent determines, in its sole discretion, that it has received a refund in   respect of any Indemnified Taxes or Other Taxes as to which indemnification or additional amounts have   been paid to it by a Loan Party pursuant to this Section 3.01, it shall promptly remit such refund to such   Loan Party (but only to the extent of indemnification or additional amounts paid by the Loan Party under   this Section 3.01 with respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net of   all out-of-pocket expenses (including any Taxes) of the Lender or Agent, as the case may be, and without   interest (other than any interest paid by the relevant taxing authority with respect to such refund net of any   Taxes payable by any Agent or Lender on such interest); provided that the Loan Parties, upon the request   of the Lender or Agent, as the case may be, agree promptly to return such refund (plus any penalties, in   terest or other charges imposed by the relevant taxing authority) to such party in the event such party is   required to repay such refund to the relevant taxing authority. This Section shall not be construed to re   quire any Agent or any Lender to make available its tax returns (or any other information relating to Tax   es that it deems confidential) to the Borrower or any other person.   Section 3.02 Illegality.   If any Lender determines that any Law has made it unlawful, or that any Governmental Authority   has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund   Eurocurrency Rate Loans, or to determine or charge interest rates based upon the Eurocurrency Rate,   then, on notice thereof by such Lender to the Borrower through the Administrative Agent, any obligation   of such Lender to make or continue Eurocurrency Rate Loans or to convert Base Rate Loans to Eurocur   rency Rate Loans shall be suspended until such Lender notifies the Administrative Agent and the Bor   rower that the circumstances giving rise to such determination no longer exist. Upon receipt of such no   tice, the Borrower shall upon demand from such Lender (with a copy to the Administrative Agent), pre   pay or, if applicable, convert all applicable Eurocurrency Rate Loans of such Lender to Base Rate Loans,   either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain   such Eurocurrency Rate Loans to such day, or promptly, if such Lender may not lawfully continue to   maintain such Eurocurrency Rate Loans. Upon any such prepayment or conversion, the Borrower shall   also pay accrued interest on the amount so prepaid or converted and all amounts due, if any, in connection   with such prepayment or conversion under Section 3.05. Each Lender agrees to designate a different   Lending Office if such designation will avoid the need for such notice and will not, in the good faith   judgment of such Lender, otherwise be materially disadvantageous to such Lender.   Section 3.03 Inability to Determine Rates.   If the Required Lenders determine that for any reason adequate and reasonable means do not exist   for determining the applicable Eurocurrency Rate for any requested Interest Period with respect to a pro   posed Eurocurrency Rate Loan, or that the Eurocurrency Rate for any requested Interest Period with re   spect to a proposed Eurocurrency Rate Loan does not adequately and fairly reflect the cost to such Lend   ers of funding such Loan, or that Dollar deposits are not being offered to banks in the London interbank   -86-    

 

eurodollar, or other applicable, market for the applicable amount and the Interest Period of such Eurocur   rency Rate Loan, the Administrative Agent will promptly so noti& the Borrower and each Lender.   Thereafter, the obligation of the Lenders to make or maintain Eurocurrency Rate Loans shall be suspend   ed until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice.   Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of; conver   sion to or continuation of such Eurocurrency Rate Loans or, failing that, will be deemed to have convert   ed such request, if applicable, into a request for a Borrowing of Base Rate Loans in the amount specified   therein.   Section 3.04 Increased Cost and Reduced Return; Capital Adequacy; Eurocurrency Rate   Loan Reserves.   (a) If any Lender reasonably determines that as a result of the introduction of or any change   in or in the interpretation of any Law, in each case after the Closing Date, or such Lender’s compliance   therewith, there shall be any increase in the cost to such Lender of agreeing to make or making, funding   or maintaining any Eurocurrency Rate Loans, or a reduction in the amount received or receivable by such   Lender in connection with any of the foregoing (excluding for purposes of this Section 3.04(a) any such   increased costs or reduction in amount resulting from (0(x) any Indemnified Taxes or Other Taxes in   demnified pursuant to Section 3.01, (y) any Taxes excluded from the definition of Indemnified Taxes   (other than Taxes excluded under clause (ii) thereof) or Other Taxes or (z) any Taxes that are not im   posed on or in respect of its loans, loan principal, interest or other payments, letters of credit, commit   ments or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto, or (ii)   reserve requirements contemplated by Section 3.04(c)) and the result of any of the foregoing shall be to   increase the cost to such Lender of making or maintaining the Eurocurrency Rate Loan (or of maintaining   its obligations to make any Loan), or to reduce the amount of any sum received or receivable by such   Lender, then from time to time within fifteen (15) days after demand by such Lender setting forth in rea   sonable detail such increased costs (with a copy of such demand to the Administrative Agent given in ac   cordance with Section 3.06), the Borrower shall pay to such Lender such additional amounts as will com   pensate such Lender for such increased cost or reduction. Notwithstanding anything herein to the contra   ry, for all purposes under this Agreement (including Section 3.04(b)), (x) the Dodd-Frank Wall Street Re   form and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in   connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for In   ternational settlements, the Basel Committee on Banking Supervision (or any successor or similar au   thority) or the United States regulatory authorities, in each case pursuant to Basel III, shall in each case be   deemed to be a change in Law, regardless of the date enacted, adopted or issued.   (b) If any Lender determines that the introduction of any Law regarding capital adequacy or   any change therein or in the interpretation thereof; in each case after the Closing Date, or compliance by   such Lender (or its Lending Office) therewith, has the effect of reducing the rate of return on the capital   of such Lender or any corporation controlling such Lender as a consequence of such Lender’s obligations   hereunder (taking into consideration its policies with respect to capital adequacy and such Lender’s de   sired return on capital), then from time to time upon demand of such Lender setting forth in reasonable   detail the charge and the calculation of such reduced rate of return (with a copy of such demand to the   Administrative Agent given in accordance with Section 3.06), the Borrower shall pay to such Lender such   additional amounts as will compensate such Lender for such reduction within fifteen (15) days after re   ceipt of such demand.   (c) The Borrower shall pay to each Lender, (i) as long as such Lender shall be required to   maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or de   posits, additional interest on the unpaid principal amount of each applicable Eurocurrency Rate Loan of   -87-    

 

the Borrower equal to the actual costs of such reserves allocated to such Loan by such Lender (as deter   mined by such Lender in good faith, which determination shall be conclusive in the absence of manifest   error), and (ii) as long as such Lender shall be required to comply with any reserve ratio requirement or   analogous requirement of any other central banking or financial regulatory authority imposed in respect of   the maintenance of the Commitments or the funding of any Euroeurrency Rate Loans of the Borrower,   such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the   nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such   Lender (as determined by such Lender in good faith, which determination shall be conclusive absent man   ifest error) which in each case shall be due and payable on each date on which interest is payable on such   Loan, provided the Borrower shall have received at least fifteen (15) days’ prior notice (with a copy to the   Administrative Agent) of such additional interest or cost from such Lender. If a Lender fails to give no   tice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest or cost shall be   due and payable fifteen (15) days from receipt of such notice.   (d) Failure or delay on the part of any Lender to demand compensation pursuant to this Sec   tion 3.04 shall not constitute a waiver of such Lender’s right to demand such compensation.   (e) If any Lender requests compensation under this Section 3.04, then such Lender will, if   requested by the Borrower, use commercially reasonable efforts to designate another Lending Office for   any Loan or Letter of Credit affected by such event; provided that such efforts are made on terms that, in   the reasonable judgment of such Lender, cause such Lender and its Lending Office(s) to suffer no materi   al economic, legal or regulatory disadvantage, and provided, further, that nothing in this Section 3.04(e)   shall affect or postpone any of the Obligations of the Borrower or the rights of such Lender pursuant to   Section 3.04(a), (b), (c) or (d).   Section 3.05 Funding Losses.   Upon written demand of any Lender (with a copy to the Administrative Agent) from time to time,   which demand shall set forth in reasonable detail the basis for requesting such amount, the Borrower shall   promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense ac   tually incurred by it as a result of:   (a) any continuation, conversion, payment or prepayment of any Eurocurrency Rate   Loan of the Borrower on a day other than the last day of the Interest Period for such Loan; or   (b) any failure by the Borrower (for a reason other than the failure of such Lender to   make a Loan) to prepay, borrow, continue or convert any Eurocurrency Rate Loan of the Borrow   er on the date or in the amount notified by the Borrower;   including any loss or expense (excluding loss of anticipated profits) arising from the liquidation or   reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the depos   its from which such funds were obtained.   Section 3.06 Matters Applicable to All Requests for Compensation.   (a) Any Agent or any Lender claiming compensation under this Article III shall deliver a cer   tificate to the Borrower setting forth the additional amount or amounts to be paid to it hereunder which   shall be conclusive in the absence of manifest error. In determining such amount, such Agent or such   Lender may use any reasonable averaging and attribution methods.   -88-    

 

(b) With respect to any Lender’s claim for compensation under Section 3.01, 3.02, 3.03 or   3.04, the Borrower shall not be required to compensate such Lender for any amount incurred more than   one hundred and eighty (180) days prior to the date that such Lender notifies the Borrower of the event   that gives rise to such claim; provided that, if the circumstance giving rise to such claim is retroactive,   then such 180-day period referred to above shall be extended to include the period of retroactive effect   thereof If any Lender requests compensation by the Borrower under Section 3.04, the Borrower may, by   notice to such Lender (with a copy to the Administrative Agent), suspend the obligation of such Lender to   make or continue from one Interest Period to another applicable Eurocurrency Rate Loan, or, if applica   ble, to convert Base Rate Loans into Eurocurrency Rate Loan, until the event or condition giving rise to   such request ceases to be in effect (in which case the provisions of Section 3.06(c) shall be applicable);   provided that such suspension shall not affect the right of such Lender to receive the compensation so re   quested.   (c) If the obligation of any Lender to make or continue any Eurocurrency Rate Loan, or to   convert Base Rate Loans into Eurocurrency Rate Loans shall be suspended pursuant to Section 3.06(b)   hereot such Lender’s applicable Eurocurrency Rate Loans shall be automatically converted into Base   Rate Loans (or, if such conversion is not possible, repaid) on the last day(s) of the then current Interest   Period(s) for such Eurocurrency Rate Loans (or, in the case of an immediate conversion required by Sec   tion 3.02, on such eariier date as required by Law) and, unless and until such Lender gives notice as pro   vided below that the circumstances specified in Section 3.02, 3.03 or 3.04 hereof that gave rise to such   conversion no longer exist:   (i) to the extent that such Lender’s Eurocurrency Rate Loans have been so convert   ed, all payments and prepayments of principal that would otherwise be applied to such Lender’s   applicable Eurocurrency Rate Loans shall be applied instead to its Base Rate Loans; and   (ii) all Loans that would otherwise be made or continued from one Interest Period to   another by such Lender as Eurocurrency Rate Loans shall be made or continued instead as Base   Rate Loans (if possible), and all Base Rate Loans of such Lender that would otherwise be con   verted into Eurocurrency Rate Loans shall remain as Base Rate Loans.   (d) If any Lender gives notice to the Borrower (with a copy to the Administrative Agent) that   the circumstances specified in Section 3.02, 3.03 or 3.04 hereof that gave rise to the conversion of any of   such Lender’s Eurocurrency Rate Loans pursuant to this Section 3.06 no longer exist (which such Lender   agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurocurrency Rate Loans   made by other Lenders under the applicable Facility are outstanding, if applicable, such Lender’s Base   Rate Loans shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s)   for such outstanding Eurocurrency Rate Loans, to the extent necessary so that, after giving effect thereto,   all Loans held by the Lenders holding Eurocurrency Rate Loans under such Facility and by such Lender   are held pro rata (as to principal amounts, interest rate basis, and Interest Periods) in accordance with their   respective Commitments for the applicable Facility.   Section 3.07 Replacement of Lenders under Certain Circumstances.   (a) If at any time (i) the Borrower becomes obligated to pay additional amounts or indemnity   payments described in Section 3.01 or 3.04 as a result of any condition described in such Sections or any   Lender ceases to make any Eurocurrency Rate Loans as a result of any condition described in Sec   tion 3.02 or Section 3.04 or (ii) any Lender becomes a Non-Consenting Lender, then the Borrower may,   on ten (10) Business Days’ prior written notice to the Administrative Agent and such Lender, (x) replace   such Lender by causing such Lender to (and such Lender shall be obligated to) assign pursuant to Sec   -89-    

 

tion 10.07(b) (with the assigmnent fee to be paid by the Borrower in such instance) all of its rights and   obligations under this Agreement (in respect of any applicable Facility only in the case of clause (i) or,   with respect to a Class vote, clause (ii)) to one or more Eligible Assignees; provided that neither the Ad   ministrative Agent nor any Lender shall have any obligation to the Borrower to fmd a replacement Lender   or other such Person; and provided,further, that (A) in the case of any such assignment resulting from a   claim for compensation under Section 3.04 or payments required to be made pursuant to Section 3.01,   such assignment will result in a reduction in such compensation or payments and (B) in the case of any   such assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable Eligible As   signees shall have agreed to, and shall be sufficient (together with all other consenting Lenders) to cause   the adoption of, the applicable departure, waiver or amendment of the Loan Documents; or (y) terminate   the Commitment of such Lender and repay all Obligations of the Borrower owing to such Lender relating   to the Loans and participations held by such Lender as of such termination date; provided that in the case   of any such tennination of a Non-Consenting Lender such termination shall be sufficient (together with   all other consenting Lenders) to cause the adoption of the applicable departure, waiver or amendment of   the Loan Documents and such termination shall be in respect of any applicable facility only in the case of   clause (i) or, with respect to a Class vote, clause (ii).   (b) Any Lender being replaced pursuant to Section 3.07(a) above shall (i) execute and deliver   an Assignment and Assumption with respect to such Lender’s applicable Commitment and outstanding   Loans in respect thereof; and (ii) deliver any Term Notes evidencing such Loans to the Borrower or Ad   ministrative Agent. Pursuant to such Assignment and Assumption, (A) the assignee Lender shall acquire   all or a portion, as the case may be, of the assigning Lender’s Commitment and outstanding Loans, (B) all   obligations of the Borrower owing to the assigning Lender relating to the Loans, Commitments and par   ticipations so assigned shall be paid in full by the assignee Lender to such assigning Lender concurrently   with such Assignment and Assumption and (C) upon such payment and, if so requested by the assignee   Lender, delivery to the assignee Lender of the appropriate Term Note or Term Notes executed by the Bor   rower, the assignee Lender shall become a Lender hereunder and the assigning Lender shall cease to con   stitute a Lender hereunder with respect to such assigned Loans, Commitments and participations, except   with respect to indemnification provisions under this Agreement, which shall survive as to such assigning   Lender. In connection with any such replacement, if any such Non-Consenting Lender does not execute   and deliver to the Administrative Agent a duly executed Assignment and Assumption reflecting such re   placement within five (5) Business Days of the date on which the assignee Lender executes and delivers   such Assignment and Assumption to such Non-Consenting Lender, then such Non-Consenting Lender   shall be deemed to have executed and delivered such Assignment and Assumption without any action on   the part of the Non-Consenting Lender.   (c) [Reserved].   (d) In the event that (i) the Borrower or the Administrative Agent has requested that the   Lenders consent to a departure or waiver of any provisions of the Loan Documents or agree to any   amendment thereto, (ii) the consent, waiver or amendment in question requires the agreement of each af   fected Lender or each Lender of a Class in accordance with the terms of Section 10.01 or all the Lenders   with respect to a certain Class of the Loans and (iii) the Required Lenders (or, in the case of a consent,   waiver or amendment involving all affected Lenders of a certain Class, the Required Class Lenders) have   agreed to such consent, waiver or amendment, then any Lender who does not agree to such consent,   waiver or amendment shall be deemed a “Non-Consenting Lender.”   -90-    

 

Section 3.08 Survival.   All of the Loan Parties’ obligations under this Article ifi shall survive termination of the Aggre   gate Commitments and repayment of all other Obligations hereunder.   ARTICLE IV.   CONDITIONS PRECEDENT TO CREDIT EXTENSIONS   Section 4.01 Conditions to Initial Credit Extension.   The obligation of each Lender to make a Credit Extension hereunder on the Closing Date is sub   ject to satisfaction of the following conditions precedent, except as otherwise agreed between the Bor   rower and the Administrative Agent:   (a) The Administrative Agent’s receipt of the following, each of which shall be orig   inals or pdf copies or other facsimiles (followed promptly by originals) unless otherwise speci   fied, each properly executed by a Responsible Officer of the signing Loan Party each in form and   substance reasonably satisfactory to the Administrative Agent and its legal counsel:   (i) a Committed Loan Notice in accordance with the requirements hereof;   (ii) executed counterparts of this Agreement;   (iii) a Term Note executed by the Borrower in favor of each Lender that has   requested a Term Note at least two (2) Business Days in advance of the Closing Date;   (iv) each Collateral Document set forth in Section 1.OlC of the Confidential   Disclosure Letter required to be executed on the Closing Date as indicated on such   schedule, duly executed by each Loan Party thereto, together with:   (A) certificates, if any, representing the Pledged Equity referred to   therein accompanied by undated stock powers executed in blank and instruments   evidencing the Pledged Debt indorsed in blank; and   (B) evidence that all other actions, recordings and filings required by   the Collateral Documents that the Administrative Agent may deem reasonably   necessary to satisfy the Collateral and Guarantee Requirement shall have been   taken, completed or otherwise provided for in a manner reasonably satisfactory to   the Administrative Agent;   (v) such certificates of good standing (to the extent such concept exists)   from the applicable secretary of state of the state of organization of each Loan Party, cer   tificates of resolutions or other action, incumbency certificates and/or other certificates of   Responsible Officers of each Loan Party as the Administrative Agent may reasonably re   quire evidencing the identity, authority and capacity of each Responsible Officer thereof   authorized to act as a Responsible Officer in connection with this Agreement and the oth   er Loan Documents to which such Loan Party is a party or is to be a party on the Closing   Date;   -91-    

 

(vi) an opinion from Kirkland & Ellis LLP, New York counsel to the Loan   Parties, substantially in the form of Exhibit N;   (vii) [reserved);   (viii) a solvency certificate from the chief financial officer, chief ac   counting officer or other officer with equivalent duties of the Borrower (after giving ef   fect to the Transactions) substantially in the form attached hereto as Exhibit D-2;   (ix) certified copies of the Acquisition Agreement and schedules thereto, duly   executed by the parties thereto, together with all material agreements, instruments and   other documents delivered in connection therewith as the Administrative Agent shall rea   sonably request, each including certification by a Responsible Officer of the Borrower   that such documents are in full force and effect as of the Closing Date and that the condi   tion specified in clause (c) below has been satisfied; and   (x) copies of a recent Lien and judgment search in each jurisdiction reasona   bly requested by the Administrative Agent with respect to the Loan Parties;   provided, however, that, each of the requirements set forth in clause (iv) above, including the de   livery of documents and instruments necessary to satis& the Collateral and Guarantee Require   ment (except for the execution and delivery of the Security Agreement and to the extent that a   Lien on such Collateral may be perfected (x) by the filing of a financing statement under the Uni   fonn Commercial Code or (y) by the delivery of stock certificates of the Borrower and its wholly   owned Material Domestic Subsidiaries other than any Unrestricted Subsidiaries) shall not consti   tute conditions precedent to any Credit Extension on the Closing Date after the Borrower’s use of   commercially reasonable efforts to provide such items on or prior to the Closing Date or without   undue burden or expense if the Borrower agrees to deliver, or cause to be delivered, such search   results, documents and instruments, or take or cause to be taken such other actions as may be re   quired to perfect such security interests within ninety (90) days after the Closing Date (subject to   extensions approved by the Administrative Agent in its reasonable discretion).   (b) All fees and expenses required to be paid hereunder and invoiced at least three   (3) Business Days before the Closing Date (except as otherwise reasonably agreed to by the Bor   rower) shall have been paid from the proceeds of the initial findings under the Facilities, includ   ing fees pursuant to the Fee Letter.   (c) Prior to or substantially simultaneously with the initial Borrowing on the Closing   Date, (i) the Acquisition shall have been consummated in all material respects in accordance with   the terms of the Acquisition Agreement as in effect on December 20, 2011 (without giving effect   to any amendments, consents or waivers by Holdings that are material and adverse to the Lenders   or the Arrangers (as reasonably detennined by the Arrangers) without the prior consent of the Ar   rangers (such consent not to be unreasonably withheld, delayed or conditioned) (it being under   stood that (a) any reduction in the purchase price of or consideration for, the Acquisition is not   material and adverse to the interests of the Lenders or the Arrangers, but shall reduce the com   mitments in respect of the Term Loans and the unsecured bridge loans (if any) (or Senior Notes)   to be incurred or issued on the Closing Date, ratably and (b) any amendment to the definition of   “Material Adverse Change” or “Material Adverse Effect” in such Acquisition Agreement is mate   rial and adverse to the interests of the Lenders and the Arrangers) and (ii) the Refmancing shall   have been consummated.   -92-    

 

(d) No Material Adverse Change (as defined in the Acquisition Agreement as in ef   feet on December 20, 2011) shall have occurred which is not capable of remedy prior to the Clos   ing Date.   (e) The Specified Representations shall be true and correct in all material respects   (or, if qualified by “materiality,” “Material Adverse Effect” or similar language, in all respects   (after giving effect to such qualification)) on and as of the Closing Date; provided that, to the ex   tent that such representations and warranties specifically refer to an earlier date, they shall be true   and correct in all material respects as of such earlier date.   (f) The Arrangers shall have received the Company Annual Financial Statements,   the Company Quarterly Financial Statements, the Acquired Business Annual Financial State   ments and the Acquired Business Unaudited Financial Statements.   (g) The Arrangers shall have received the Pro Forma Financial Statements.   (h) The Administrative Agent and each Arranger shall have received all documenta   tion and other information about the Borrower and the Guarantors as has been reasonably re   quested in writing at least 15 days prior to the Closing Date by the Administrative Agent or such   Arranger that it reasonably determines is required by regulatory authorities under applicable   “know your customer” and anti-money laundering rules and regulations, including without limita   tion the USA Patriot Act.   (i) The representations and warranties made by the Seller in the Acquisition Agree   ment that are material to the interests of the Lenders shall be true and correct, but only to the ex   tent that Holdings or the Borrower has the right to terminate its obligations under the Acquisition   Agreement as a result of a breach of such representations and warranties.   Without limiting the generality of the provisions of Section 9.03(b), for purposes of determining   compliance with the conditions specified in this Section 4.01, each Lender that has signed this Agreement   shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or oth   er matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender   unless the Administrative Agent shall have received notice from such Lender prior to the proposed Clos   ing Date specifying its objection thereto.   Section 4.02 Conditions to All Credit Extensions after the Closing Date.   The obligation of each Lender to honor any Request for Credit Extension (other than a Commit   ted Loan Notice requesting only a conversion of Loans to the other Type, or a continuation of Eurocur   rency Rate Loans) is subject to the following conditions precedent;   (i) The representations and warranties of each Loan Party set forth in Article V and   in each other Loan Document shall be true and correct in all material respects on and as   of the date of such Credit Extension with the same effect as though made on and as of   such date, except to the extent such representations and warranties expressly relate to an   earlier date, in which case they shall be true and correct in all material respects as of such   earlier date; provided that any representation and warranty that is qualified as to “materi   ality,” “Material Adverse Effect” or similar language shall be true and correct (after giv   ing effect to any qualification therein) in all respects on such respective dates.   -93-    

 

(ii) No Default shall exist or would result from such proposed Credit Extension or   from the application of the proceeds therefrom.   (iii) The Administrative Agent shall have received a Request for Credit Extension in   accordance with the requirements hereof   Each Request for Credit Extension (other than a Committed Loan Notice requesting only a con   version of Loans to the other Type, or a continuation of Eurocurrency Rate Loans) submitted by the Bor   rower after the Closing Date shall be deemed to be a representation and warranty that the conditions spec   ified in Sections 4.020) and (ii) have been satisfied on and as of the date of the applicable Credit Exten   sion.   ARTICLE V.   REPRESENTATIONS AND WARRANTIES   Holdings, the Borrower and each of the Subsidiary Guarantors party hereto represent and warrant   to the Agents and the Lenders at the time of each Credit Extension (to the extent required to be true and   correct for such Credit Extension pursuant to Article IV) that:   Section 5.01 Existence, Oualification and Power~ Compliance with Laws.   Each Loan Party and each Restricted Subsidiary (a) is a Person duly organized or formed, validly   existing and in good standing under the Laws of the jurisdiction of its incorporation or organization to the   extent such concept exists in such jurisdiction, (b) has all requisite power and authority to (i) own or lease   its assets and carry on its business as currently conducted and (ii) in the case of the Loan Parties, execute,   deliver and perform its obligations under the Loan Documents to which it is a party, (c) is duly qualified   and in good standing (where relevant) under the Laws of each jurisdiction where its ownership, lease or   operation of properties or the conduct of its business requires such qualification, (d) is in compliance with   all Laws, orders, writs and injunctions and (e) has all requisite governmental licenses, authorizations, con   sents and approvals to operate its business as currently conducted; except in each case, referred to in   clause (a) (other than with respect to the Borrower), (b)(i) (other than with respect to the Borrower), (c),   (d) or (e), to the extent that failure to do so could not reasonably be expected to have a Material Adverse   Effect.   Section 5.02 Authorization: No Contravention.   The execution, delivery and performance by each Loan Party of each Loan Document to which   such Person is a party, and the consummation of the Transactions, (a) have been duly authorized by all   necessary corporate or other organizational action, and (b) do not (i) contravene the terms of any of such   Person’s Organization Documents, (ii) conflict with or result in any breach or contravention ot or the   creation of any Lien under (other than as permitted by Section 7.01), or require any payment to be made   under (x) any Contractual Obligation to which such Person is a party or affecting such Person or the prop   erties of such Person or any of its Subsidiaries or (y) any material order, injunction, writ or decree of any   Governmental Authority or any arbitral award to which such Person or its property is subject; or (iii) vio   late any Law; except with respect to any conflict, breach or contravention or payment (but not creation of   Liens) referred to in clauses (ii) and (iii), to the extent that such violation, conflict, breach, contravention   or payment could not reasonably be expected to have a Material Adverse Effect.   -94-    

 

Section 5.03 Governmental Authorization: Other Consents.   No material approval, consent, exemption, authorization, or other action by, or notice to, or filing   with, any Governmental Authority or any other Person is necessary or required in connection with the   execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement or any   other Loan Document, the grant by any Loan Party of the Liens granted by it pursuant to the Collateral   Documents, the perfection or maintenance of the Liens created under the Collateral Documents (including   the priority thereof) or the exercise by the Administrative Agent or any Lender of its rights under the   Loan Documents or the remedies in respect of the Collateral pursuant to the Collateral Documents, except   for (i) filings and registrations necessary to perfect the Liens on the Collateral granted by the Loan Parties   in favor of the Secured Parties, (ii) the approvals, consents, exemptions, authorizations, actions, notices   and filings which have been duly obtained, taken, given or made and are in full force and effect (except to   the extent not required to obtained, taken, given or made or in full force and effect pursuant to the Collat   eral and Guarantee Requirement) and (iii) those approvals, consents, exemptions, authorizations or other   actions, notices or filings, the failure of which to obtain or make could not reasonably be expected to have   a Material Adverse Effect.   Section 5.04 Binding Effect.   This Agreement and each other Loan Document has been duly executed and delivered by each   Loan Party that is a party thereto. This Agreement and each other Loan Document constitutes, a legal,   valid and binding obligation of such Loan Party, enforceable against each Loan Party that is a party there   to in accordance with its terms, except as such enforceability may be limited by (i) Debtor Relief Laws   and by general principles of equity and (H) the need for filings and registrations necessary to create or   perfect the Liens on the Collateral granted by the Loan Parties in favor of the Secured Parties and (iii) the   effect of foreign Laws, rules and regulations as they relate to pledges of Equity Interests in Foreign Sub   sidiaries.   Section 5.05 Financial Statements: No Material Adverse Effect.   (a) The Company Annual Financial Statements and the Company Quarterly Financial State   ments fairly present in all material respects the financial condition of Holdings and its Subsidiaries as of   the dates thereof and their results of operations for the period covered thereby in accordance with GAAP   consistently applied throughout the periods covered thereby, (A) except as otherwise expressly noted   therein and (B) subject, in the case of the Company Quarterly Financial Statements, to changes resulting   from nonnal year-end adjustments and the absence of footnotes.   (b) The Acquired Business Annual Financial Statements and the Acquired Business Unaudit   ed Financial Statements fairly present in all material respects the financial condition of the Acquired   Business as of the dates thereof and its results of operations for the period covered thereby in accordance   with IFRS consistently applied throughout the periods covered thereby, (A) except as otherwise expressly   noted therein and (B) subject, in the case of the Acquired Business Unaudited Financial Statements, to   changes resulting from normal year-end adjustments and the absence of footnotes.   (c) The unauditedproforrna consolidated balance sheet of Holdings and its Subsidiaries as   of the last day of the twelve-month period ending on the last day of the most recently completed four-   fiscal quarter period ended at least forty-five (45) days (or ninety (90) days if such four-fiscal quarter pe   riod is the end of Holdings’ fiscal year) prior to the Closing Date, prepared afler giving effect to the   Transactions as if the Transactions had occurred as of such date (including the notes thereto) (the “Pro   Forma Balance Sheet”) and the unauditedproforrna consolidated statement of income of Holdings and   -95-    

 

its Subsidiaries for the 12-month period ended at least forty-five (45) days (or ninety (90) days if such   four-fiscal quarter period is the end of the Borrower’s fiscal year) prior to the Closing Date, prepared after   giving effect to the Transactions as if the Transactions had occurred at the beginning of such period (to   gether with the Pro Forma Balance Sheet, the “Pro Forma Financial Statements”), copies of which have   heretofore been furnished to the Administrative Agent, have been prepared based on the Company Aimu   al Financial Statements, the Company Quarterly Financial Statements, the Acquired Business Annual Fi   nancial Statements and the Acquired Business Unaudited Financial Statements and have been prepared in   good faith, based on assumptions believed by Holdings to be reasonable as of the date of delivery thereof,   and present fairly in all material respects on a pro forma basis the estimated financial position of Holdings   and its Subsidiaries as at September 30, 2011 and theft estimated results of operations for the period cov   ered thereby.   (d) The forecasts of consolidated balance sheets, income statements and cash flow statements   of Holdings and its Subsidiaries for each fiscal year ending after the Closing Date until the fifth anniver   sary of the Closing Date, copies of which have been furnished to the Administrative Agent prior to the   Closing Date, and all Projections delivered pursuant to Section 6.01 have been prepared in good faith on   the basis of the assumptions stated therein, which assumptions were believed to be reasonable at the time   made, it being understood that projections as to future events are not to be viewed as facts and actual re   sults may vary materially from such forecasts.   (e) Since the Closing Date, there has been no event or circumstance, either individually or in   the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect.   (f) There are no material liabilities that are not disclosed in the Company Annual Financial   Statements, the Company Quarterly Financial Statements, the Acquired Business Annual Financial   Statements, the Acquired Business Unaudited Financial Statements or any other fmancial statements de   livered pursuant to Section 6.0 1(a) or (b).   Section 5.06 Litigation.   Except as set forth in Section 5.06 of the Confidential Disclosure Letter, there are no actions,   suits, proceedings, claims or disputes pending or, to the knowledge of Holdings or the Borrower, threat   ened in writing, at law, in equity, in arbitration or before any Governmental Authority, by or against   Holdings, the Borrower or any of its Restricted Subsidiaries or against any of their properties or revenues   that either individually or in the aggregate, could reasonably be expected to have a Material Adverse Ef   fect.   Section 5.07 Ownership of Property; Liens.   Holdings, the Borrower and each of its Restricted Subsidiaries has good record title to, or valid   leasehold interests in, or easements or other limited property interests in, all Real Property necessary in   the ordinary conduct of its business, free and clear of all Liens except as set forth in Section 5.07 of the   Confidential Disclosure Letter and except for minor defects in title that do not materially interfere with its   ability to conduct its business or to utilize such assets for their intended purposes and Liens permitted by   Section 7.01 and except where the failure to have such title could not reasonably be expected to have, in   dividually or in the aggregate, a Material Adverse Effect.   -96-    

 

Section 5.08 Environmental Matters.   Except as specifically disclosed in Section 5.08(a) of the Confidential Disclosure Letter or except   as could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect:   (a) Each Loan Party and its respective properties and operations are and have been in   material compliance with all Environmental Laws, which includes obtaining and maintaining all   applicable Environmental Permits required under such Environmental Laws to carry on the busi   ness of the Loan Parties;   (b) the Loan Parties have not received any written notice that alleges any of them is   in violation of or potentially liable under any Environmental Laws and none of the Loan Parties   nor any of the Real Property is the subject of any claims, investigations, liens, demands, orjudi   cial, administrative or arbitral proceedings pending or, to the knowledge of the Borrower, threat   ened in writing, under any Environmental Law or to revoke or modify any Environmental Permit   held by any of the Loan Parties;   (c) there has been no Release of Hazardous Materials on, at, under or from any Real   Property or facilities owned, operated or leased by any of the Loan Parties, or, to the knowledge   of the Borrower, Real Property formerly owned, operated or leased by any Loan Party or arising   out of the conduct of the Loan Parties that could reasonably be expected to require investigation,   remedial activity or corrective action or cleanup or could reasonably be expected to result in the   Borrower incurring liability under Environmental Laws; and   (d) there are no facts, circumstances or conditions arising out of or relating to the op   erations of the Loan Parties or Real Property or facilities owned, operated or leased by any of the   Loan Parties or the knowledge of the Borrower, Real Property or facilities formerly owned, oper   ated or leased by the Loan Parties that could reasonably be expected to result in the Borrower in   curring liability under Environmental Laws.   Section 5.09 Taxes.   Except as would not, either individually or in the aggregate, reasonably be expected to resuh in a   Material Adverse Effect, each of the Loan Parties and their Subsidiaries have timely filed all Tax returns   required to be filed, and have paid all Taxes levied or imposed upon them or their properties, income,   profits or assets, that are due and payable (including in their capacity as a withholding agent), except   those which are being contested in good faith by appropriate proceedings diligently conducted and for   which adequate reserves have been provided in accordance with GAAP. There is no proposed Tax defi   ciency or assessment known to any Loan Parties against the Loan Parties that, if made would, individual   ly or in the aggregate, reasonably be expected to result in a Material Adverse Effect.   Section 5.10 ERISA Compliance.   (a) Except as could not, either individually or in the aggregate, reasonably be expected to re   sult in a Material Adverse Effect, each Plan is in compliance with the applicable provisions of ERISA, the   Code and other Federal or state Laws.   (b) (i) No ERISA Event has occurred or is reasonably expected to occur; (ii) neither any   Loan Party, Restricted Subsidiary nor any ERISA Affiliate has incurred, or reasonably expects to incur,   any liability under Title IV of ERISA with respect to any Pension Plan (other than premiums due under   -97-    

 

Section 4007 of ERISA); (iii) neither any Loan Party, Restricted Subsidiary nor any ERISA Affiliate has   incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of   notice under Section 4219 of ERISA, would result in such liability) under Sections 4201 or 4243 of   ERISA with respect to a Multiemployer Plan; and (iv) neither any Loan Party, Restricted Subsidiary nor   any ERISA Affiliate has engaged in a transaction that could be subject to Sections 4069 or 42 12(c) of   ERISA; except, with respect to each of the foregoing clauses of this Section 5.10(b), as would not reason   ably be expected, individually or in the aggregate, to result in a Material Adverse Effect.   Section 5.11 Subsidiaries; Equity Interests.   As of the Closing Date (after giving effect to the Transactions), no Loan Party has any material   Subsidiaries other than those specifically disclosed in Section 5.11 of the Confidential Disclosure Letter,   and all of the outstanding Equity Interests owned by the Loan Parties (or a Subsidiary of any Loan Party)   in such material Subsidiaries have been validly issued and are fully paid and all Equity Interests owned by   a Loan Party (or a Subsidiary of any Loan Party) in such material Subsidiaries are owned free and clear of   all Liens except (i) those created under the Collateral Documents or under the ABL Facility Documenta   tion (which Liens shall be subject to the ABL Intercreditor Agreement) and (ii) any Lien that is permitted   under Section 7.01. As of the Closing Date, Schedules 1(a) and 5(a) to the Perfection Certificate (a) set   forth the name and jurisdiction of each Domestic Subsidiary that is a Loan Party, (b) set forth the owner   ship interest of the Borrower and any other Subsidiary thereof in each Subsidiary, including the percent   age of such ownership and (c) identifies each Subsidiary that is a Subsidiary the Equity Interests of which   are required to be pledged on the Closing Date pursuant to the Collateral and Guarantee Requirement.   Section 5.12 Margin Regulations; Investment Company Act.   (a) No Loan Party is engaged nor will it engage, principally or as one of its important activi   ties, in the business of purchasing or carrying Margin Stock, or extending credit for the purpose of pur   chasing or carrying Margin Stock, and no proceeds of any Borrowings or drawings under any Letter of   Credit will be used for any purpose that violates Regulation U of the Board of Governors of the United   States Federal Reserve System.   (b) None of the Borrower, any Person Controlling the Borrower, or any of their Restricted   Subsidiaries is or is required to be registered as an “investment company” under the Investment Company   Act of 1940.   Section 5.13 Disclosure.   No report, financial statement, certificate or other written information furnished by or on behalf   of any Loan Party (other than projected financial information, proforma fmancial information and infor   mation of a general economic or industry nature) to any Agent or any Lender in connection with the   transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or any   other Loan Document (as modified or supplemented by other information so furnished) when taken as a   whole contains any material misstatement of fact or omits to state any material fact necessary to make the   statements therein (when taken as a whole), in the light of the circumstances under which they were   made, not materially misleading. With respect to projected financial information and proforma fmancial   information, Holdings and the Borrower represent that such information was prepared in good faith based   upon assumptions believed to be reasonable at the time of preparation; it being understood that such pro   jections may vary from actual results and that such variances may be material.   -98-    

 

Section 5.14 Labor Matters.   Except as, in the aggregate, could not reasonably be expected to have a Material Adverse Effect:   (a) there are no strikes or other labor disputes against the Borrower or any of its Restricted Subsidiaries   pending or, to the knowledge of the Borrower, threatened; (b) hours worked by and payment made to em   ployees of the Borrower or any of its Restricted Subsidiaries have not been in violation of the Fair Labor   Standards Act or any other applicable Laws dealing with such matters; and (e) all payments due from   each of the Loan Parties or any of the Restricted Subsidiaries on account of employee health and welfare   insurance have been paid or accrued as a liability on the books of the relevant party.   Section 5.15 Intellectual Property: Licenses, Etc.Each of the Loan Parties and the Restricted   Subsidiaries own, license or possess the right to use all of the trademarks, service marks, trade names,   domain names, copyrights, patents, patent rights, technology, software, know-how database rights, design   rights and other intellectual property rights (collectively, “IP Rights”) that are reasonably necessary for   the operation of their respective businesses as currently conducted, and, such IP Rights do not conflict   with the rights of any Person, except to the extent the absence of such IF Rights and such conflicts, either   individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. To   the knowledge of Holdings and the Borrower, no IP Rights used by any Loan Party or any of the Restrict   ed Subsidiaries in the operation of their respective businesses as currently conducted infringes upon any   rights held by any Person, except for such infringements, individually or in the aggregate, which could   not reasonably be expected to have a Material Adverse Effect. No claim or litigation regarding any of the   IP Rights owned by any Loan Party or any of the Restricted Subsidiaries, is pending or, to the knowledge   of Holdings and the Borrower, threatened against any Loan Party or any of the Restricted Subsidiaries,   which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse   Effect.   All registrations listed in Schedule 12(a) or 12(b) to the Perfection Certificate are valid and in fill   force and effect, except, in each case, to the extent the failure of such registrations to be valid and in full   force and effect could not reasonably be expected, individually or in the aggregate, to have a Material   Adverse Effect.   Section 5.16 Solvency.   On the Closing Date, after giving effect to the Transactions, the Borrower and its Restricted Sub   sidiaries, on a consolidated basis, are Solvent.   Section 5.17 Subordination of Junior Financing.   The Obligations are “Senior Debt,” “Senior Indebtedness,” “Guarantor Senior Debt” or “Senior   Secured Financing” (or any comparable term) under, and as defined in, any Junior Financing Documenta   tion that is subordinated in right of payment to the Obligations.   Section 5.18 USA Patriot Act.   (a) To the extent applicable, each of Holdings and its Subsidiaries is in compliance, in all   material respects, with (i) the Trading with the Enemy Act, as amended, and each of the foreign assets   control regulations of the United States Treasury Department (31 CFR Subtitle B, Chapter V, as amend   ed) and any other enabling legislation or executive order relating thereto and (ii) the USA Patriot Act.   -99-    

 

(b) No part of the proceeds of the Loans will be used, directly or indirectly, for any payments   to any governmental official or employee, political party, official of a political party, candidate for politi   cal office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or ob   tain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as   amended.   Section 5.19 Security Documents.   Except as otherwise contemplated hereby or under any other Loan Documents, the provisions of   the Collateral Documents, together with such filings and other actions required to be taken hereby or by   the applicable Collateral Documents (including the delivery to Administrative Agent of any Pledged Debt   and any Pledged Equity required to be delivered pursuant to the applicable Collateral Documents), are   effective to create in favor of the Administrative Agent for the benefit of the Secured Parties, except as   otherwise provided hereunder, including subject to Liens permitted by Section 7.01, a legal, valid, en   forceable and perfected first priority (other than with respect to the ABL Priority Collateral (as to which   the Lien hereon shall be junior to the extent set forth in the ABL Intercreditor Agreement)) Lien on all   right, title and interest of the respective Loan Parties in the Collateral described therein.   Notwithstanding anything herein (including this Section 5.19) or in any other Loan Document to   the contrary, neither the Borrower nor any other Loan Party makes any representation or warranty as to   (A) the effects of perfection or non-perfection, the priority or the enforceability of any pledge of or securi   ty interest (other than with respect to those pledges and security interests made under the Laws of the ju   risdiction of formation of the applicable Foreign Subsidiary) in any Equity Interests of any Foreign Sub   sidiary, or as to the rights and remedies of the Agents or any Lender with respect thereto, under foreign   Law, (B) the pledge or creation of any security interest, or the effects of perfection or non-perfection, the   priority or the enforceability of any pledge of or security interest to the extent such pledge, security inter   est, perfection or priority is not required pursuant to the Collateral and Guarantee Requirement or (C) on   the Closing Date and until required pursuant to Section 6.13 or 4.0l(a)(iv), the pledge or creation of any   security interest, or the effects of perfection or non-perfection, the priority or enforceability of any pledge   or security interest to the extent not required on the Closing Date pursuant to Section 4.01 (a)(iv).   ARTICLE VI.   AFFIRMATIVE COVENANTS   So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation (oth   er than obligations under Term Loan Secured Hedge Agreements) hereunder which is accrued and paya   ble shall remain unpaid or unsatisfied, then from and after the Closing Date, Holdings and the Borrower   shall, and shall (except in the case of the covenants set forth in Sections 6.01, 6.02 and 6.03) cause each   of the Restricted Subsidiaries to:   Section 6.01 Financial Statements.   (a) Deliver to the Administrative Agent for prompt further distribution to each Lender, not   later than the earlier of (x) ninety (90) days after the end of each fiscal year of the Borrower (beginning   with the fiscal year ending March 31, 2012) and (y) the day on which Holdings’ Annual Report on Form   10-K is required to be filed with the SEC for such fiscal year, a consolidated balance sheet of Borrower   and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income or   operations, stockholders’ equity and cash flows for such fiscal year, setting forth in each case in compara   tive form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with   GAAP, audited and accompanied by a report and opinion of PricewaterhouseCoopers LLP or any other   -100-    

 

independent registered public accounting firm of nationally recognized standing, which report and opin   ion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to   any “going concern” or like qualification or exception or any qualification or exception as to the scope of   such audit;   (b) Deliver to the Administrative Agent for prompt further distribution to each Lender, not   later than the earlier of(x) forty-five (45) days afler the end of each of the first three (3) fiscal quarters of   each fiscal year of the Borrower (beginning with the fiscal quarter ended December 31, 2011) and (y) the   day on which Holdings’ Quarterly Report on Form l0-Q is required to be filed with the SEC for the ap   plicable fiscal quarter, a consolidated balance sheet of Borrower and its Subsidiaries as at the end of such   fiscal quarter and the related (i) consolidated statements of income or operations for such fiscal quarter   and for the portion of the fiscal year then ended and (ii) consolidated statements of cash flows for such   fiscal quarter and the portion of the fiscal year then ended, setting forth in each case in comparative form   the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion   of the previous fiscal year, all in reasonable detail and certified by a Responsible Officer of Borrower as   fairly presenting in all material respects the financial condition, results of operations, stockholders’ equity   and cash flows of Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year-   end audit adjustments and the absence of footnotes;   (c) Deliver to the Administrative Agent for prompt further distribution to each Lender, with   in ninety (90) days after the end of each fiscal year of Borrower, a detailed consolidated budget for the   following fiscal year on a quarterly basis (including a projected consolidated balance sheet of Borrower   and its Subsidiaries as of the end of the following fiscal year, the related consolidated statements of pro   jected cash flow and projected income and a summary of the material underlying assumptions applicable   thereto) (collectively, the “Projections”), which Projections shall in each case be accompanied by a cer   tificate of a Responsible Officer stating that such Projections have been prepared in good faith on the ba   sis of the assumptions stated therein, which assumptions were believed to be reasonable at the time of   preparation of such Projections, it being understood that actual results may vary from such Projections   and that such variations may be material; and   (d) Deliver to the Administrative Agent with each set of consolidated financial statements re   ferred to in Sections 6.01(a) and 6.01(b) above, the related consolidating financial statements reflecting   the adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) (which may be in   footnote form only) from such consolidated financial statements.   Notwithstanding the foregoing, the obligations in paragraphs (a) and (b) of this Section 6.01 may   be satisfied with respect to financial information of the Borrower and the Restricted Subsidiaries by fur   nishing (A) the applicable financial statements of the Borrower (or any direct or indirect parent of the   Borrower) or (B) the Borrower’s (or any direct or indirect parent thereof), as applicable, Form 10-K or   10-Q, as applicable, filed with the SEC; provided that, with respect to clauses (A) and (B), (i) to the ex   tent such information relates to a parent of the Borrower, such information is accompanied by consolidat   ing information that explains in reasonable detail the differences between the information relating to the   Borrower (or such parent), on the one hand, and the information relating to the Borrower and the Restrict   ed Subsidiaries on a standalone basis, on the other hand and (ii) to the extent such information is in lieu of   information required to be provided under Section 6.01(a), such materials are accompanied by a report   and opinion of PricewaterhouseCoopers LLP or any other independent registered public accounting firm   of nationally recognized standing, which report and opinion shall be prepared in accordance with general   ly accepted auditing standards and shall not be subject to any “going concern” or like qualification or ex   ception or any qualification or exception as to the scope of such audit.   -101-    

 

Any financial statement required to be delivered pursuant to Section 6.01(a) or (b) shall not be   required to include purchase accounting adjustments relating to the Transactions to the extent it is not   practicable to include them.   Documents required to be delivered pursuant to Section 6.01 and Section 6.02(b) and (c) may be   delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on   which the Borrower (or any direct or indirect parent of the Borrower) posts such documents, or provides a   link thereto on the website on the Internet at the website address listed on Schedule 10.02; or (ii) on which   such documents are posted on the Borrower’s behalf on IntraLinks/IntraAgency or another relevant web-   site, if any, to which each Lender and the Administrative Agent have access (whether a commercial,   third-party website or whether sponsored by the Administrative Agent); provided that (x) upon written   request by the Administrative Agent, the Borrower shall deliver paper copies of such documents to the   Administrative Agent for further distribution to each Lender until a written request to cease delivering   paper copies is given by the Administrative Agent and (y) the Borrower shall noti& (which may be by   facsimile or electronic mail) the Administrative Agent of the posting of any such documents and provide   to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents.   Notwithstanding anything contained herein, in every instance the Borrower shall be required to provide   paper copies of the Compliance Certificates required by Section 6.02(a) to the Administrative Agent   (which may be electronic copies delivered via electronic mail). Each Lender shall be solely responsible   for timely accessing posted documents or requesting delivery of paper copies of such documents from the   Administrative Agent and maintaining its copies of such documents.   The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arranger will   make available to the Lenders materials and/or information provided by or on behalf of the Borrower   hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks or an   other similar electronic system (the “Platform”) and (b) certain of the Lenders (each, a “Public Lender”)   may have personnel who do not wish to receive material non-public information with respect to the Bor   rower or its Affiliates, or the respective securities of any of the foregoing, and who may be engaged in   investment and other market-related activities with respect to such Persons’ securities. The Borrower   hereby agrees that so long as the Borrower is the issuer of any outstanding debt or equity securities that   are registered or issued pursuant to a private offering or is actively contemplating issuing any such securi   ties it will use commercially reasonable efforts to identi& that portion of the Borrower Materials that may   be distributed to the Public Lenders and that (w) all such Borrower Materials shall be clearly and con   spicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear   prominently on the first page thercof~ (x) by marking Borrower Materials “PUBLIC,” the Borrower shall   be deemed to have authorized the Administrative Agent, the Arrangers and the Lenders to treat such Bor   rower Materials as not containing any material non-public information (although it may be sensitive and   proprietary) with respect to the Borrower or its securities for purposes of United States Federal and state   securities laws (provided, however, that to the extent such Borrower Materials constitute Information,   they shall be treated as set forth in Section 10.08); (y) all Borrower Materials marked “PUBLIC” are per   mitted to be made available through a portion of the Platform designated “Public Side Information”; and   (z) the Administrative Agent and the Arranger shall treat any Borrower Materials that are not marked   “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side   Information.” Notwithstanding the foregoing, the Borrower shall be under no obligation to mark any   Borrower Materials “PUBLIC.”   -102-    

 

Section 6.02 Certificates: Other Information.   Deliver to the Administrative Agent for prompt further distribution to each Lender:   (a) no later than five (5) days after the delivery of the fmancial statements referred to   in Sections 6.0 1(a) and (b), a duly completed Compliance Certificate signed by a Responsible Of-   fleer of Holdings;   (b) promptly after the same are publicly available, copies of all annual, regular, peri   odic and special reports and registration statements which Holdings, the Borrower or any Re   stricted Subsidiary files with the SEC or with any Governmental Authority that may be substitut   ed therefor (other than amendments to any registration statement (to the extent such registration   statement, in the fonn it became effective, is delivered), exhibits to any registration statement   and, if applicable, any registration statement on Form S-8) and in any case not otherwise required   to be delivered to the Administrative Agent pursuant to any other clause of this Section 6.02;   (c) promptly after the furnishing thereof, copies of any material notices received by   any Loan Party (other than in the ordinary course of business) or material statements or material   reports furnished to any holder of debt securities (other than in connection with any board ob   server rights) of any Loan Party or of any of its Restricted Subsidiaries pursuant to the terms of   the ABL Facility Documentation, the Senior Notes Indenture or the Existing Notes Indenture and,   in each case, any Permitted Refinancing thereof in each case in a principal amount in excess of   the Threshold Amount and not otherwise required to be furnished to the Lenders pursuant to any   other clause of this Section 6.02;   (d) together with the delivery of each Compliance Certificate pursuant to Sec   tion 6.02(a), (i) in the case of annual Compliance Certificates only, a report setting forth the in   formation required by sections describing the legal name and the jurisdiction of formation of each   Loan Party and the location of the chief executive office of each Loan Party of the Perfection   Certificate or confirming that there has been no change in such information since the Closing   Date or the date of the last such report, (ii) a description of each event, condition or circumstance   during the last fiscal quarter covered by such Compliance Certificate requiring a mandatory pre   payment under Section 2.05(b) and (iii) a list of each Subsidiary of the Borrower that identifies   each Subsidiary as a Restricted Subsidiary or an Unrestricted Subsidiary as of the date of delivery   of such Compliance Certificate (to the extent that there have been any changes in the identity or   status as a Restricted Subsidiary or Unrestricted Subsidiary of any such Subsidiaries since the   Closing Date or the most recent list provided); and   (e) promptly, such additional information regarding the business, legal, financial or   corporate affairs of the Loan Parties or any of their respective Restricted Subsidiaries, or compli   ance with the terms of the Loan Documents, as the Administrative Agent or any Lender through   the Administrative Agent may from time to time reasonably request.   Section 6.03 Notices.   Promptly after a Responsible Officer of the Borrower or any Subsidiary Guarantor has obtained   knowledge thereof notify the Administrative Agent:   (a) of the occurrence of any Default;   -103-    

 

(b) of the occurrence of an ERISA Event which could reasonably be expected to re   suit in a Material Adverse Effect; and   (c) of the filing or commencement ot or any threat or notice of intention of any per   son to file or commence, any action, suit, litigation or proceeding, whether at law or in equity by   or before any Governmental Authority against the Borrower or any of its Restricted Subsidiaries   that could reasonably be expected to result in a Material Adverse Effect.   Each notice pursuant to this Section 6.03 shall be accompanied by a written statement of a Re   sponsible Officer of the Borrower (x) that such notice is being delivered pursuant to Section 6.03(a), (b)   or (c) (as applicable) and (y) setting forth details of the occurrence referred to therein and stating what   action the Borrower has taken and proposes to take with respect thereto.   Section 6.04 Payment of Taxes.   Pay, discharge or otherwise satisfy as the same shall become due and payable in the normal con   duct of its business, all its obligations and liabilities in respect of Taxes imposed upon it or upon its in   come or profits or in respect of its property, except, in each case, to the extent (a) any such Tax is being   contested in good faith and by appropriate proceedings for which appropriate reserves have been estab   lished in accordance with GAAP or (b) the failure to pay or discharge the same would not reasonably be   expected to have, individually or in the aggregate, a Material Adverse Effect.   Section 6.05 Preservation of Existence, Etc.   (a) Preserve, renew and maintain in fill force and effect its legal existence under the Laws of   the jurisdiction of its organization, and   (b) take all reasonable action to maintain all rights, privileges (including its good standing   where applicable in the relevant jurisdiction), permits, licenses and franchises necessary or desirable in   the normal conduct of its business,   except, in the case of (a) (other than with respect to Holdings and the Borrower) or (b), to the extent (i)   that failure to do so could not reasonably be expected to have, individually or in the aggregate, a Material   Adverse Effect or (ii) pursuant to any merger, consolidation, liquidation, dissolution or Disposition per   mitted by Article VII.   Section 6.06 Maintenance of Properties.   Except if the failure to do so could not reasonably be expected to have, individually or in the ag   gregate, a Material Adverse Effect, maintain, preserve and protect all of its material properties and   equipment necessary in the operation of its business in good working order, repair and condition, ordinary   wear and tear excepted and fire, casualty or condemnation excepted.   Section 6.07 Maintenance of Insurance.   Maintain with insurance companies that the Borrower believes (in the good faith judgment of its   management) are financially sound and reputable at the time the relevant coverage is placed or renewed,   insurance with respect to its properties and business against loss or damage of the kinds customarily in   sured against by Persons engaged in the same or similar business, of such types and in such amounts (af   ter giving effect to any self-insurance reasonable and customary for similarly situated Persons engaged in   -104-    

 

the same or similar businesses as Holdings, the Borrower and the Restricted Subsidiaries) as are custom   arily carried under similar circumstances by such other Persons. Each such policy of insurance shall as   appropriate (i) name the Administrative Agent, on behalf of the Lenders, as an additional insured there   under as its interest may appear or (ii) in the case of each casualty insurance policy, contain a loss payable   clause or endorsement that names the Administrative Agent, on behalf of the Lenders, as loss payee   thereunder. If the improvements on any Mortgaged Property are at any time located in an area identified   by the Federal Emergency Management Agency (or any successor agency) as a special flood hazard area   with respect to which flood insurance has been made available under the National Flood Insurance Act of   1968 (as now or hereafter in effect or successor act thereto), then, to the extent required by applicable   Flood Insurance Laws, the Borrower shall, or shall cause each Loan Party to, (i) maintain, or cause to be   maintained, with a fmancially sound and reputable insurer, flood insurance in an amount reasonably satis   factory to the Administrative Agent and otherwise sufficient to comply with all applicable rules and regu   lations promulgated pursuant to the Flood Insurance Laws and (ii) deliver to the Administrative Agent   evidence of such compliance in form and substance reasonably acceptable to the Administrative Agent.   Section 6.08 Compliance with Laws.   Comply in all material respects with the requirements of all Laws and all orders, writs, injunc   tions and decrees applicable to it or to its business or property, except if the failure to comply therewith   could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.   Section 6.09 Books and Records.   Maintain proper books of record and account, in which entries that are full, true and correct in all   material respects and are in conformity with GAAP and which reflect all material financial transactions   and matters involving the assets and business of Holdings, the Borrower or a Restricted Subsidiary, as the   case may be (it being understood and agreed that certain Foreign Subsidiaries maintain individual books   and records in conformity with generally accepted accounting principles in their respective countries of   organization and that such maintenance shall not constitute a breach of the representations, warranties or   covenants hereunder).   Section 6.10 Jnsyection Rights.   Permit representatives and independent contractors of the Administrative Agent and each Lender   to visit and inspect any of its properties, to examine its corporate, financial and operating records, and   make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its direc   tors, officers, and independent public accountants (subject to such accountants’ customary policies and   procedures), all at the reasonable expense of the Borrower and at such reasonable times during normal   business hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrow   er; provided that only the Administrative Agent on behalf of the Lenders may exercise rights of the Ad   ministrative Agent and the Lenders under this Section 6.10 and the Administrative Agent shall not exer   cise such rights more often than two (2) times during any calendar year and only one (1) such time shall   be at the Borrower’s expense; provided,further, that during the continuation of an Event of Default, the   Administrative Agent (or any of its respective representatives or independent contractors), on behalf of   the Lenders, may do any of the foregoing at the expense of the Borrower at any time during normal busi   ness hours and upon reasonable advance notice. The Administrative Agent shall give the Borrower the   opportunity to participate in any discussions with the Borrower’s independent public accountants. Not   withstanding anything to the contrary in this Section 6.10, none of the Borrower or any of the Restricted   Subsidiaries will be required to disclose, permit the inspection, examination or making copies or abstracts   of or discussion ot any document, information or other matter that (a) constitutes non-financial trade   -105-    

 

secrets or non-financial proprietary information, (b) in respect of which disclosure to the Administrative   Agent or any Lender (or their respective representatives or contractors) is prohibited by Law or any bind   ing agreement or (c) is subject to attorney-client or similar privilege or constitutes attorney work product.   Section 6.11 Additional Collateral; Additional Guarantors.   At the Borrower’s expense, subject to the provisions of the Collateral and Guarantee Requirement   and any applicable limitation in any Collateral Document, take all action necessary or reasonably request   ed by the Administrative Agent to ensure that the Collateral and Guarantee Requirement continues to be   satisfied, including:   (a) Upon the formation or acquisition of any new direct or indirect wholly owned   Material Domestic Subsidiary (in each case, other than an Excluded Subsidiary) by any Loan Par   ty or the designation in accordance with Section 6.14 of any existing direct or indirect wholly   owned Material Domestic Subsidiary as a Restricted Subsidiary (in each case, other than an Ex   cluded Subsidiary) or any Subsidiary becoming a wholly owned Material Domestic Subsidiary (in   each case, other than an Excluded Subsidiary):   (i) within 60 days afier such formation, acquisition or designation, or such   longer period as the Administrative Agent may agree in writing in its discretion:   (A) cause each such Material Domestic Subsidiary that is required to   become a Guarantor pursuant to the Collateral and Guarantee Requirement to du   ly execute and deliver to the Administrative Agent, other than with respect to any   Excluded Assets, joinders to this Agreement as Guarantors, Security Agreement   Supplements, Intellectual Property Security Agreements, a counterpart of the In   tercompany Note and other security agreements and documents as reasonably re   quested by and in form and substance reasonably satisfactory to the Administra   tive Agent (consistent with the Mortgages, Security Agreement, Intellectual   Property Security Agreements and other security agreements in effect on the   Closing Date), in each case granting Liens required by the Collateral and Guaran   tee Requirement;   (B) cause each such Material Domestic Subsidiary that is required to   become a Guarantor pursuant to the Collateral and Guarantee Requirement (and   the parent of each such Domestic Subsidiary that is a Guarantor) to deliver any   and all certificates representing Equity Interests (to the extent certificated) and   intercompany notes (to the extent certificated) that are required to be pledged   pursuant to the Collateral and Guarantee Requirement, accompanied by undated   stock powers or other appropriate instruments of transfer executed in blanic;   (C) take and cause such Material Domestic Subsidiary that is re   quired to become a Guarantor pursuant to the Collateral and Guarantee Require   ment and each direct or indirect parent of such Material Domestic Subsidiary to   take whatever action (including the recording of Mortgages, the filing of UCC fi   nancing statements and delivery of stock and membership interest certificates) as   may be necessary in the reasonable opinion of the Administrative Agent to vest   in the Administrative Agent (or in any representative of the Administrative Agent   designated by it) valid and perfected Liens to the extent required by the Collat   -106-    

 

eral and Guarantee Requirement, and to otherwise comply with the requirements   of the Collateral and Guarantee Requirement;   (ii) if reasonably requested by the Administrative Agent, within forty-five   (45) days after such request (or such longer period as the Administrative Agent may   agree in writing in its discretion), deliver to the Administrative Agent a signed copy of an   opinion, addressed to the Administrative Agent and the Lenders, of counsel for the Loan   Parties to the Administrative Agent as to such matters set forth in this Section 6.11(a) as   the Administrative Agent may reasonably request;   (iii) as promptly as practicable after the request therefor by the Administra   tive Agent, deliver to the Administrative Agent with respect to each Material Real Prop   erty, any existing title reports, abstracts or environmental assessment reports, to the ex   tent available and in the possession or control of the Borrower; provided, however, that   there shall be no obligation to deliver to the Administrative Agent any existing environ   mental assessment report whose disclosure to the Administrative Agent would require the   consent of a Person other than the Borrower or one of its Subsidiaries, where, despite the   commercially reasonable efforts of the Borrower to obtain such consent, such consent   cannot be obtained; and   (iv) if reasonably requested by the Administrative Agent, within sixty (60)   days after such request (or such longer period as the Administrative Agent may agree in   writing in its discretion), deliver to the Administrative Agent any other items necessary   from time to time to satis& the Collateral and Guarantee Requirement with respect to   perfection and existence of security interests with respect to property of any Guarantor   acquired after the Closing Date and subject to the Collateral and Guarantee Requirement,   but not specifically covered by the preceding clauses (i), (ii) or (iii) or clause (b) below.   (b) Not later than one hundred twenty (120) days after the acquisition by any Loan   Party of Material Real Property as determined by the Borrower (acting reasonably and in good   faith) (or such longer period as the Administrative Agent may agree in writing in its discretion)   that is required to be provided as Collateral pursuant to the Collateral and Guarantee Require   ment, which property would not be automatically subject to another Lien pursuant to pre-existing   Collateral Documents, cause such property to be subject to a Lien and Mortgage in favor of the   Administrative Agent for the benefit of the Secured Parties and take, or cause the relevant Loan   Party to take, such actions as shall be necessary or reasonably requested by the Administrative   Agent to grant and perfect or record such Lien, in each case to the extent required by, and subject   to the limitations and exceptions of the Collateral and Guarantee Requirement and to otherwise   comply with the requirements of the defmition of “Collateral and Guarantee Requirement”.   Section 6.12 Compliance with Environmental Laws.   Except, in each case, to the extent that the failure to do so could not reasonably be expected to   have, individually or in the aggregate, a Material Adverse Effect, comply, and take all reasonable actions   to cause all lessees and other Persons operating or occupying its properties to comply with all applicable   Environmental Laws and Environmental Permits; obtain and renew all Environmental Permits necessary   for its operations and properties; and, in each case to the extent the Loan Parties are required by Environ   mental Laws, conduct any investigation, remedial or other corrective action necessary to address Hazard   ous Materials at any property or facility in accordance with applicable Environmental Laws.   -107-    

 

Section 6.13 Further Assurances.   Promptly upon reasonable request by the Administrative Agent (i) correct any material defect or   error that may be discovered in the execution, acknowledgment, filing or recordation of any Collateral   Document or other document or instrument relating to any Collateral, and (ii) do, execute, acknowledge,   deliver, record, re-record, file, re-file, register and re-register any and all such further acts, deeds, certifi   cates, assurances and other instruments as the Administrative Agent may reasonably request from time to   time in order to carry out more effectively the purposes of the Collateral Documents, to the extent re   quired pursuant to the Collateral and Guarantee Requirement. If the Administrative Agent reasonably   determines that it is required by applicable Law to have appraisals prepared in respect of any Mortgaged   Property, the Borrower shall provide to the Administrative Agent appraisals that satis~’ the applicable   requirements of the Real Estate Appraisal Reform Amendments of FJRREA. The Borrower shall prompt   ly noti& the Administrative Agent upon the purchase of the Split Brands or the termination of Holdings’   obligation to purchase the Split Brands. To the extent that the Split Brands are purchased prior to the Split   Brands Cutoff Date: (i) either (x) such purchase must be made by the Borrower or a Subsidiary Guaran   tor, or (y) upon the purchase of the Split Brands by Holdings, Holdings shall contribute the Split Brands   to the Borrower or a Subsidiary Guarantor and (ii) the Borrower shall take all such actions required by   Section 6.11 to create and perfect the security interest in the Split Brands and comply with the Collateral   and Guarantee Requirement. Holdings shall take all actions necessary to consummate the B SPA Assign   ment.   Section 6.14 Designation of Subsidiaries.   The Borrower may at any time after the Closing Date designate any Restricted Subsidiary of the   Borrower as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary; provid   ed that (i) immediately before and after such designation, no Default shall have occurred and be continu   ing, (ii) other than for purposes of designating a Restricted Subsidiary as an Unrestricted Subsidiary that   is a Securitization Subsidiary in connection with the establishment of a Qualified Securitization Financ   ing, immediately after giving effect to such designation, the Borrower shall be in compliance, on a Pro   Forma Basis, with the covenants set forth in Section 7.11 (it being understood that if no Test Period cited   in Section 7.11 has passed, the covenants in Section 7.11 for the first Test Period cited in such Section   shall be satisfied as of the last four quarters ended and, as a condition precedent to the effectiveness of   any such designation, the Borrower shall deliver to the Administrative Agent a certificate setting forth in   reasonable detail the calculations demonstrating such compliance), (iii) no Subsidiary may be designated   as an Unrestricted Subsidiary if after such designation, it would be a “Restricted Subsidiary” for the pur   pose of the ABL Facility, the Senior Notes, Existing Notes or any Junior Financing and (iv) no Restricted   Subsidiary may be designated an Unrestricted Subsidiary if it was previously designated an Unrestricted   Subsidiary. The designation of any Subsidiary as an Unrestricted Subsidiary after the Closing Date shall   constitute an Investment by the Borrower therein at the date of designation in an amount equal to the fair   market value as determined in good faith by the Borrower of the Borrower’s or its Subsidiary’s (as appli   cable) Investment therein. The designation of any Unrestricted Subsidiary as a Restricted Subsidiary   shall constitute (i) the incurrence at the time of designation of any Investment, Indebtedness or Liens of   such Subsidiary existing at such time and (ii) a return on any Investment by the Borrower in Unrestricted   Subsidiaries pursuant to the preceding sentence in an amount equal to the fair market value as determined   in good faith by the Borrower at the date of such designation of the Borrower’s or its Subsidiary’s (as ap   plicable) Investment in such Subsidiary.   -108-    

 

Section 6.15 Maintenance of Ratings.   Use commercially reasonable efforts to maintain (i) a public corporate credit rating (but not any   specific rating) from S&P and a public corporate family rating (but not any specific rating) from   Moody’s, in each case in respect of the Borrower, and (ii) a public rating (but not any specific rating) in   respect of the Term B-i Loans and Term B-2 Loans from each of S&P and Moody’s.   ARTICLE VII.   NEGATiVE COVENANTS   So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation   hereunder (other than (i) contingent indemnification obligations as to which no claim has been asserted   and (ii) obligations under Term Loan Secured Hedge Agreements) which is accrued and payable shall   remain unpaid or unsatisfied, then from and after the Closing Date, Holdings and the Borrower (and, with   respect to Section 7.14 only, Holdings) shall not and shall not permit any of its Restricted Subsidiaries to,   directly or indirectly:   Section 7.01 Liens.   Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues,   whether now owned or hereafter acquired, other than the following:   (a) Liens created pursuant to any Loan Document (including Liens pursuant to the   Loan Documents securing the Existing Notes);   (b) Liens existing on the Amendment No. 2 Effective Date and listed in   tienSchedu e 7.01(b) of the Confidential Disclosure Letter to Amendment No.2 and any modifi   cations, replacements, renewals, refinancings or extensions thereof~ provided that (i) the Lien   does not extend to any additional property other than (A) after-acquired property that is affixed or   incorporated into the property covered by such Lien or financed by Indebtedness permitted under   Section 7.03, and (B) proceeds and products thereof, and (ii) the replacement, renewal, extension   or refinancing of the obligations secured or benefited by such Liens, to the extent constituting In   debtedness, is permitted by Section 7.03;   (c) Liens for taxes, assessments or governmental charges that are not overdue for a   period of more than thirty (30) days or that are being contested in good faith and by appropriate   actions, if adequate reserves with respect thereto are maintained on the books of the applicable   Person in accordance with GAAP;   (d) statutory or common law Liens of landlords, sublandlords, carriers, warehouse-   men, mechanics, materialmen, repainnen, construction contractors or other like Liens, so long as,   in each case, such Liens secure amounts not overdue for a period of more than thirty (30) days or   if more than thirty (30) days overdue, are unfiled and no other action has been taken to enforce   such Liens or that are being contested in good faith and by appropriate actions, if adequate re   serves with respect thereto are maintained on the books of the applicable Person in accordance   with GAAP;   (e) (i) pledges or deposits in the ordinary course of business in connection with   workers’ compensation, unemployment insurance and other social security legislation and (ii)   pledges and deposits in the ordinary course of business securing liability for reimbursement or in-   -109-    

 

demnification obligations of (including obligations in respect of letters of credit or bank guaran   tees for the benefit of) insurance carriers providing property, casualty or liability insurance to the   Borrower or any of its Restricted Subsidiaries;   (1) deposits to secure the performance of bids, trade contracts, governmental con   tracts and leases (other than Indebtedness for borrowed money), statutory obligations, surety,   stay, customs and appeal bonds, performance bonds and other obligations of a like nature (includ   ing those to secure health, safety and environmental obligations) incurred in the ordinary course   of business;   (g) easements, rights-of-way, restrictions (including zoning restrictions), encroach   ments, protrusions and other similar encumbrances and minor title defects affecting Real Property   that do not in the aggregate materially interfere with the ordinary conduct of the business of the   Borrower or any of its Restricted Subsidiaries, taken as a whole, and any exceptions on the Mort   gage Policies issued in connection with the Mortgaged Properties;   (h) Liens securing judgments or orders for the payment of money not constituting an   Event of Default under Section 8.01(h);   (i) leases, licenses, subleases or sublicenses granted to others in the ordinary course   of business which (i) do not interfere in any material respect with the business of the Borrower   and its Restricted Subsidiaries, taken as a whole, (ii) do not secure any Indebtedness or (iii) are   permitted by Section 7.05;   U) Liens (i) in favor of customs and revenue authorities arising as a matter of Law to   secure payment of customs duties in connection with the importation of goods in the ordinary   course of business or (ii) on specific items of inventory or other goods and proceeds of any Per   son securing such Person’s obligations in respect of bankers’ acceptances or letters of credit is   sued or created for the account of such person to facilitate the purchase, shipment or storage of   such inventory or other goods in the ordinary course of business;   (k) Liens (i) of a collection bank arising under Section 4-208 of the Uniform Com   mercial Code on items in the course of collection, (ii) attaching to commodity trading accounts or   other commodities brokerage accounts incurred in the ordinary course of business and (iii) in fa   vor of a banicing or other financial institution arising as a matter of Law or under customary gen   eral terms and conditions encumbering deposits or other funds maintained with a financial institu   tion (including the right of set-off) and that are within the general parameters customary in the   banking industry or arising pursuant to such banking institutions general terms and conditions;   (1) Liens (i) on cash advances in favor of the seller of any property to be acquired in   an Investment permitted pursuant to Sections 7.02(g), (i) and (n) or, to the extent related to any of   the foregoing, Section 7.02(r) to be applied against the purchase price for such Investment, and   (ii) consisting of an agreement to Dispose of any property in a Disposition permitted under Sec   tion 7.05, in each case, solely to the extent such Investment or Disposition, as the case may be,   would have been permitted on the date of the creation of such Lien;   (m) Liens (i) in favor of the Borrower or a Restricted Subsidiary on assets of a Re   stricted Subsidiary that is not a Loan Party securing Indebtedness permitted under Sec   tion 7.03(b), (d) and (u) and (H) in favor of the Borrower or any Subsidiary Guarantor;   -110-    

 

(n) any interest or title of a lessor, sublessor, licensor or sublicensor under leases,   subleases, licenses or sublicenses entered into by the Borrower or any of its Restricted Subsidiar   ies in the ordinary course of business;   (o) Liens arising out of conditional sale, title retention, consignment or similar ar   rangements for sale of goods entered into by the Borrower or any of its Restricted Subsidiaries in   the ordinary course of business permitted by this Agreement;   (p) Liens deemed to exist in connection with Investments in repurchase agreements   under Section 7.02;   (q) Liens encumbering reasonable customary initial deposits and margin deposits   and similar Liens attaching to commodity trading accounts or other brokerage accounts incurred   in the ordinary course of business and not for speculative purposes;   (r) Liens that are contractual rights of set-off or rights of pledge (i) relating to the es   tablishment of depository relations with banks or other deposit-taking financial institutions and   not given in connection with the issuance of Indebtedness, (ii) relating to pooled deposit or sweep   accounts of the Borrower or any of its Restricted Subsidiaries to permit satisfaction of overdraft   or similar obligations incurred in the ordinary course of business of the Borrower or any of its   Restricted Subsidiaries or (Hi) relating to purchase orders and other agreements entered into with   customers of the Borrower or any of its Restricted Subsidiaries in the ordinary course of business;   (s) Liens solely on any cash earnest money deposits made by the Borrower or any of   its Restricted Subsidiaries in connection with any letter of intent or purchase agreement pennitted   hereunder;   (t) ground leases in respect of Real Property on which facilities owned or leased by   the Borrower or any of its Restricted Subsidiaries are located;   (u) Liens to secure Indebtedness permitted under Section 7.03(e); provided that (i)   such Liens are created within 270 days of the acquisition, construction, repair, lease or improve   ment of the property subject to such Liens, (ii) such Liens do not at any time encumber property   (except for replacements, additions and accessions to such property) other than the property fi   nanced by such Indebtedness and the proceeds and products thereof and customary security de   posits and (Hi) with respect to Capitalized Leases, such Liens do not at any time extend to or cov   er any assets (except for replacements, additions and accessions to such assets) other than the as   sets subject to such Capitalized Leases and the proceeds and products thereof and customary se   curity deposits; provided that individual fmancings of equipment provided by one lender may be   cross-collateralized to other financings of equipment provided by such lender;   (v) Liens on property of any Subsidiary that is not a Loan Party, which Liens secure   Indebtedness of any of Holdings, the Borrower or any Subsidiary permitted under Section 7.03;   (w) Liens existing on property at the time of its acquisition or existing on the proper   ty of any Person at the time such Person becomes a Restricted Subsidiary (other than by designa   tion as a Restricted Subsidiary pursuant to Section 6.14), in each case after the Closing Date (oth   er than Liens on the Equity Interests of any Person that becomes a Restricted Subsidiary); provid   ed that (i) such Lien was not created in contemplation of such acquisition or such Person becom   ing a Restricted Subsidiary, (H) such Lien does not extend to or cover any other assets or property   —ill—    

 

(other than the proceeds or products thereof and other than after-acquired property subjected to a   Lien securing Indebtedness and other obligations incurred prior to such time and which Indebted   ness and other obligations are permitted hereunder that require, pursuant to their terms at such   time, a pledge of afier-acquired property, it being understood that such requirement shall not be   permitted to apply to any property to which such requirement would not have applied but for such   acquisition), and (iii) the Indebtedness secured thereby is permitted under Section 7.03(g);   (x) (i) zoning, building, entitlement and other land use regulations by Governmental   Authorities with which the normal operation of the business complies, and (ii) any zoning or   similar law or right reserved to or vested in any Governmental Authority to control or regulate the   use of any real property that does not materially interfere with the ordinary conduct of the busi   ness of the Borrower and its Restricted Subsidiaries, taken as a whole;   (y) Liens arising from precautionary Uniform Commercial Code financing statement   or similar filings;   (z) Liens on insurance policies and the proceeds thereof securing the financing of the   premiums with respect thereto;   (aa) the modification, replacement, renewal or extension of any Lien permitted by   clauses (b), (u) and (w) of this Section 7.01; provided that (i) the Lien does not extend to any ad   ditional property, other than (A) after-acquired property that is affixed or incorporated into the   property covered by such Lien and (B) proceeds and products thereof; and (ii) the renewal, exten   sion or refinancing of the obligations secured or benefited by such Liens is permitted by Sec   tion 7.03 (to the extent constituting Indebtedness);   (bb) Liens with respect to property or assets of the Borrower or any of its Restricted   Subsidiaries securing obligations in an aggregate principal amount outstanding at any time not to   exceed the greater of $3040,000,000 and 1.50% of Total Assets, in each case determined as of the   date of incurrence; -   (cc) Liens to secure Indebtedness permitted under Section 7.03(s) to the extent such   Liens are subject to (i) the ABL Intercreditor Agreement and a First Lien Intercreditor Agreement   if such Indebtedness is secured by the Collateral on a pan pass-u basis (but without regard to the   control of remedies) with the Obligations, or (ii) the ABL Intercreditor Agreement and a Junior   Lien Intercreditor Agreement if such Indebtedness is secured by the Collateral on a second priori   ty (or otherjunior priority) basis to the liens securing the Obligations;   (dd) Liens on the Collateral securing obligations in respect of Permitted First Priority   Refmancing Debt or Permitted Junior Priority Refinancing Debt and any Permitted Refinancing   of any of the foregoing; provided that (x) any such Liens securing any Permitted Refinancing in   respect of Permitted First Priority Refinancing Debt are subject to the ABL Intercreditor Agree   ment and the First Lien Intercreditor Agreement and (y) any such Liens securing any Permitted   Refinancing in respect of Permitted Junior Priority Refinancing Debt are subject to the ABL In   tercreditor Agreement and the Junior Lien Intercreditor Agreement;   (ee) Liens on specific items of inventory or other goods and the proceeds thereof se   curing such Person’s obligations in respect of documentary letters of credit or banker’s ac   ceptances issued or created for the account of such Person to facilitate the purchase, shipment or   storage of such inventory or goods;   -112-    

 

(ff) deposits of cash with the owner or lessor of premises leased and operated by the   Borrower or any of its Subsidiaries to secure the performance of the Borrower’s or such Subsidi   ary’s obligations under the terms of the lease for such premises;   (gg) Liens on the Securitization Assets arising in connection with a Qualified Securit   ization Financing; and   (hh) Liens on the Collateral securing Indebtedness permitted under Section 7.03(r)   (including, for the avoidance of doubt, any Liens securing obligations referred to in clauses (ii)   and (iii) of the definition of”ABL Facility Indebtedness”); provided, that such Liens shall be sub   j ect to the ABL Intercreditor Agreement in the capacity as “ABL Obligations” or subject to the   Replacement lntercreditor Agreement.   Section 7.02 Investments.   Make or hold any Investments, except:   (a) Investments by the Borrower or any of its Restricted Subsidiaries in assets that   were Cash Equivalents when such Investment was made;   (b) loans or advances to officers, directors and employees of any Loan Party (or any   direct or indirect parent thereof) or any of its Subsidiaries (i) for reasonable and customary busi   ness-related travel, entertainment, relocation and analogous ordinary business purposes, (ii) in   connection with such Person’s purchase of Equity Interests of Holdings or any direct or indirect   parent thereof; provided that, to the extent such loans or advances are made in cash, the amount   of such loans and advances used to acquire such Equity Interests shall be contributed to the Bor   rower in cash as common equity and (iii) for any other purposes not described in the foregoing   clauses (i) and (ii); provided that the aggregate principal amount outstanding at any time under   clause (iii) above shall not exceed $10,000,000;   (c) Investments (i) by the Borrower or any Restricted Subsidiary in any Loan Party   (other than Holdings), (ii) by any Restricted Subsidiary that is not a Loan Party in any other Re   stricted Subsidiary that is not a Loan Party and (iii) by any Loan Party in any Restricted Subsidi   ary that is not a Loan Party; provided that (A) any such Investments made pursuant to this clause   (iii) in the form of intercompany loans shall be evidenced by notes that, unless they are Excluded   Assets, have been pledged (individually or pursuant to a global note) to the Administrative Agent   for the benefit of the Lenders (it being understood and agreed that any Investments permitted un   der this clause (iii) that arc not so evidenced as of the Closing Date are not required to be so evi   denced and pledged until the date that is sixty (60) days after the Closing Date (or such later date   as may be approved by the Administrative Agent)) and (B) the aggregate amount of Investments   made pursuant to this clause (iii) shall not exceed at any time outstanding the sum of(x) together   with Investments pursuant to Section 7.02(i)(iv)(l), the greater of $75l00,000,000 and 325%   of Total Assets and (y) the Cumulative Credit at such time;   (d) Investments consisting of extensions of credit in the nature of accounts receiva   ble or notes receivable arising from the grant of trade credit in the ordinary course of business,   and Investments received in satisfaction or partial satisfaction thereof from financially troubled   account debtors and other credits to suppliers in the ordinary course of business;   -113-    

 

(e) Investments (excluding loans and advances made in lieu of Restricted Payments   pursuant to and limited by Section 7.02(m) below) consisting of transactions permitted under Sec   tions 7.01, 7.03 (other than 7.03(c) and (d)), 7.04 (other than 7.04(c)(ii) or (e)), 7.05 (other than   7.05(e)), 7.06 (other than 7.06(d) or (h)(iv)) and 7.13, respectively;   (f) Investments (i) existing or contemplated on the ClosingAmendment No 2 Effec   Date or made pursuant to legally binding written contracts in existence on the Cbs   Amendment No 2 Effective Date, in each case set forth in Section Schedule 7.02(f) of the   Confidential Dioeloourc Lcttor to Amendment No. 2 and any modification, replacement, renewal,   reinvestment or extension thereof that does not in each case increase the amount of such Invest   ment and (ii) existing on the Closing Date by the Borrower or any Restricted Subsidiary in the   Borrower or any other Restricted Subsidiary and any modification, renewal or extension thereof;   (g) Investments in Swap Contracts permitted under Section 7.03;   (h) promissory notes, securities and other non-cash consideration received in connec   tion with Dispositions permitted by Section 7.05;   (i) any acquisition of all or substantially all the assets of a Person or any Equity In   terests in a Person that becomes a Restricted Subsidiary or division or line of business of a Person   (or any subsequent Investment made in a Person, division or line of business previously acquired   in a Permitted Acquisition), in a single transaction or series of related transactions, if immediately   after giving Pro Forma Effect thereto (i) no Event of Default shall have occurred and be continu   ing, (ii) Holdings, the Borrower and the Restricted Subsidiaries shall be in Pro Forma Compliance   with the covenants set forth in Section 7.11; (iii) to the extent required by the Collateral and   Guarantee Requirement, (A) the property, assets and businesses acquired in such purchase or oth   er acquisition shall constitute Collateral and (B) any such newly created or acquired Subsidiary   (other than an Excluded Subsidiary or an Unrestricted Subsidiary) shall become Guarantors, in   each case, in accordance with Section 6.11, and (iv) the aggregate amount of Investments made   by virtue of this Section 7.02(i) in Persons that do not become Loan Parties shall not exceed at   any time outstanding the sum of (1) together with Investments pursuant to Sec   tion 7.02(c)(iii)(B)(x), the greater of $~l 50,000,000 and .25° o of Total Assets and (2) the   Cumulative Credit at such time (any such acquisition, a “Permitted Acquisition”);   (j) Investments made in connection with the Transactions;   (k) Investments in the ordinary course of business consisting of UCC Article 3 en   dorsements for collection or deposit and UCC Article 4 customary trade arrangements with cus   tomers consistent with past practices;   (1) Investments (including debt obligations and Equity Interests) received in connec   tion with the bankruptcy or reorganization of suppliers and customers or in settlement of delin   quent obligations of; or other disputes with, customers and suppliers arising in the ordinary course   of business or upon the foreclosure with respect to any secured Investment or other transfer of ti   tle with respect to any secured Investment;   (m) loans and advances to any direct or indirect parent of the Borrower not in excess   of the amount of (after giving effect to any other loans, advances or Restricted Payments in re   spect thereof) Restricted Payments to the extent permitted to be made to such parent in accord   ance with Sections 7.06(f), (g) or (h), such Investment being treated for purposes of the applicable   -114-    

 

clause of Section 7.06, including any limitations, as if a Restricted Payment made pursuant to   such clause;   (n) Investments in an aggregate amount outstanding pursuant to this clause (n) (val   ued at the time of the making thereof; and without giving effect to any write downs or write offs   thereof) at any time not to exceed (x) the greater of $90125,000,000 and 45.00% of Total Assets(in each case, net of any return in respect thereof; including dividends, interest, distributions, re   turns of principal, profits on sale, repayments, income and similar amounts) plus (y) the Cumula   tive Credit at such time;   (o) advances of payroll payments to employees in the ordinary course of business;   (p) (i) Investments made in the ordinary course of business in connection with ob   taining, maintaining or renewing client contracts and loans or advances made to distributors in the   ordinary course of business and (ii) Investments to the extent that payment for such Investments   is made solely with Equity Interests of the Borrower (or any direct or indirect parent of the Bor   rower);   (q) Investments of a Restricted Subsidiary acquired after the Closing Date or of a   corporation merged or amalgamated or consolidated into the Borrower or merged, amalgamated   or consolidated with a Restricted Subsidiary in accordance with Section 7.04 after the Closing   Date to the extent that such Investments were not made in contemplation of or in connection with   such acquisition, merger, amalgamation or consolidation and were in existence on the date of   such acquisition, merger or consolidation;   (r) Investments made by any Restricted Subsidiary that is not a Loan Party to the ex   tent such Investments are financed with the proceeds received by such Restricted Subsidiary from   an Investment in such Restricted Subsidiary permitted under this Section 7.02;   (s) Guarantees by the Borrower or any of its Restricted Subsidiaries of leases (other   than Capitalized Leases) or of other obligations that do not constitute Indebtedness, in each case   entered into in the ordinary course of business;   (t) (i) Investments in a Securitization Subsidiary or any Investment by a Securitiza   tion Subsidiary in any other Person in connection with a Qualified Securitization Financing; pro   vided, however, that any such Investment in a Securitization Subsidiary is in the form of (x) a   contribution of additional Securitization Assets or (y) Limited Originator Recourse and (ii) distri   butions or payments of Securitization Fees and purchases of Securitization Assets pursuant to a   Securitization Repurchase Obligation in connection with a Qualified Securitization Financing;   (u) the acquisition of the Split Brands pursuant to the Split Brands Acquisition   Agreement as in effect on the Closing Date or as may be amended in any manner not material and   adverse to the Lenders;   (v) Investments consisting of any Foreign IF Transfer; and   (w) Investments made with Excluded Contributions.   -115-    

 

Section 7.03 Indebtedness.   Create, incur, assume or suffer to exist any Indebtedness, except:   (a) Indebtedness of any Loan Party under the Loan Documents;   (b) (i) Indebtedness outstanding on the CloGmgAmendment No. 2 Effective Date and   listed in Section Schedule 7.03(b) of the Confldcntiol DiseloGure Letter to Amendment No. 2 and   any Permitted Refmancing thereof and (ii) intercompany Indebtedness outstanding on the Closing   Date and any Permitted Refmancing thereof, of which any amount owed by a Restricted Subsidi   ary that is not a Loan Party to a Loan Party shall be evidenced by an Intercompany Note; provid   ed that all such Indebtedness of any Loan Party owed to any Person or Restricted Subsidiary that   is not a Loan Party shall be unsecured and subordinated to the Obligations pursuant to an Inter   company Note;   (c) Guarantees by the Borrower and any Restricted Subsidiary in respect of Indebt   edness of the Borrower or any Restricted Subsidiary of the Borrower otherwise permitted hereun   der; provided that (A) no Guarantee by any Restricted Subsidiary of any Indebtedness constitut   ing a Specified Junior Financing Obligation shall be permitted unless such Guaranteeing party   shall have also provided a Guarantee of the Obligations on the terms set forth herein and (B) if   the Indebtedness being Guaranteed is subordinated to the Obligations, such Guarantee shall be   subordinated to the Guarantee of the Obligations on terms at least as favorable to the Lenders as   those contained in the subordination of such Indebtedness;   (d) Indebtedness of the Borrower or any Restricted Subsidiary owing to any Loan   Party or any other Restricted Subsidiary (or issued or transferred to any direct or indirect parent   of a Loan Party which is substantially contemporaneously transferred to a Loan Party or any Re   stricted Subsidiary of a Loan Party) to the extent constituting an Investment permitted by Sec   tion 7.02; provided that all such Indebtedness of any Loan Party owed to any Person or Restricted   Subsidiary that is not a Loan Party shall be unsecured and subordinated to the Obligations pursu   ant to an Intercompany Note;   (e) (i) Attributable Indebtedness and other Indebtedness (including Capitalized Leas   es) financing an acquisition, construction, repair, replacement, lease or improvement of a fixed or   capital asset incurred by the Borrower or any Restricted Subsidiary prior to or within 270 days af   ter the acquisition, lease or improvement of the applicable asset and any Permitted Refinancing   thereof in an aggregate amount not to exceed the greater of $35_,000,000 and 2.00° o of Total   Assets, in each case determined at the time of incurrence (together with any Permitted Refi   nancings thereof) at any time outstanding and (ii) Attributable Indebtedness arising out of sale   leaseback transactions permitted by Section 7.05(m) and any Permitted Refinancing of such At   tributable Indebtedness;   (f) Indebtedness in respect of Swap Contracts designed to hedge against the Bor   rower’s or any Restricted Subsidiary’s exposure to interest rates, foreign exchange rates or com   modities pricing risks incurred in the ordinary course of business and not for speculative purposes   and Guarantees thereof;   (g) Indebtedness of the Borrower or any Restricted Subsidiary assumed in connec   tion with any Permitted Acquisition; provided that such Indebtedness is not incurred in contem   plation of such Permitted Acquisition, and any Permitted Refinancing thereof; providedfurlher   -116-    

 

that, after giving proforma effect to such Permitted Acquisition and the assumption of such In   debtedness, the aggregate amount of such Indebtedness does not exceed (x) $2~35 ,000,000 at any   time outstanding plus (y) any additional amount of such Indebtedness so long as the Total Lever   age Ratio is no greater than 5 .285:1.00 and, if such Indebtedness is secured, the Secured Lever   age Ratio is no greater than 4.00:1.00, in each case determined on a Pro Forma Basis; provided   that in the case of clause (y), any such Indebtedness incurred by a Restricted Subsidiary that is not   a Loan Party, together with any Indebtedness incurred by a Restricted Subsidiary that is not a   Loan Party pursuant to Section 7.03(s), does not exceed in the aggregate at any time outstanding   the greater of $~450,000,000 and 2.OO0o of Total Assets, in each case determined at the time of   incurrence;   (h) Indebtedness representing deferred compensation to employees of the Borrower   or any of its Restricted Subsidiaries incurred in the ordinary course of business;   (i) Indebtedness consisting of promissory notes issued by the Borrower or any of its   Restricted Subsidiaries to current or former officers, managers, consultants, directors and em   ployees, their respective estates, spouses or former spouses to finance the purchase or redemption   of Equity Interests of the Borrower or any direct or indirect parent of the Borrower permitted by   Section 7.06;   (i) Indebtedness incurred by the Borrower or any of its Restricted Subsidiaries in a   Permitted Acquisition, any other Investment expressly permitted hereunder or any Disposition, in   each case, constituting indemnification obligations or obligations in respect of purchase price (in   cluding earnouts) or other similar adjustments;   (k) Indebtedness consisting of obligations of the Borrower or any of its Restricted   Subsidiaries under deferred compensation or other similar arrangements incurred by such Person   in connection with the Transactions, and Permitted Acquisitions or any other Investment express   ly permitted hereunder;   (I) Cash Management Obligations and other Indebtedness in respect of netting ser   vices, automatic clearinghouse arrangements, overdraft protections, employee credit card pro   grams and other cash management and similar arrangements in the ordinary course of business   and any Guarantees thereof;   (m) Indebtedness in an aggregate principal amount that at the time of and after giv   ing effect to, the incurrence thereof, would not exceed the greater of $90,000,000 and ‘1.00% of   Total Assets; provided that the aggregate principal amount of Indcbtcdncos outstanding in reli   ance on this clause (m) m respect of which the primary obligor or a guarantor is a Restricted Sub   qirlinrt’ thnt vi tint g T.nnn Pnrty qhnll nnt e”~ee,l in t1’~ “ ~‘y time outstanding the   tlntnrm,npd nt tim time nf~greater of $35,000,000 and 2.00% of Total Asset:,   rencel25 000 000 and 50000 of Total Assets~   (n) Indebtedness consisting of (a) the financing of insurance premiums or (b) take-   or-pay obligations contained in supply arrangements, in each case, in the ordinary course of busi   ness;   (o) Indebtedness incurred by the Borrower or any of its Restricted Subsidiaries in re   spect of letters of credit, bank guarantees, bankers’ acceptances, warehouse receipts or similar in   struments issued or created in the ordinary course of business, including in respect of workers   -117-    

 

compensation claims, health, disability or other employee benefits or property, casualty or liabil   ity insurance or self-insurance or other Indebtedness with respect to reimbursement-type obliga   tions regarding workers compensation claims;   (p) obligations in respect of performance, bid, appeal and surety bonds and perfor   mance and completion guarantees and similar obligations provided by the Borrower or any of its   Restricted Subsidiaries or obligations in respect of letters of credit, bank guarantees or similar in   struments related thereto, in each case in the ordinary course of business or consistent with past   practice;   (q) Indebtedness in respect of the Senior Notes and the Existing Notes (including, in   each case, any guarantees thereof) and, in each case, any Permitted Refinancing thereof~   (r) ABL Facility Indebtedness of the Loan Parties (a) under clause (i) of the defmi   tion of ABL Facility Indebtedness in an aggregate principal amount at any time outstanding not to   exceed the greater of (i) the Maximum ABL Facility Amount and (ii) the Borrowing Base and (b)   under clauses (ii) and (iii) of the definition of ABL Facility Indebtedness;   (s) Permitted Ratio Debt and any Permitted Refinancing thereof;   (t) Credit Agreement Refinancing Indebtedness;   (u) Indebtedness incurred by a Foreign Subsidiary which, when aggregated with the   principal amount of all other Indebtedness incurred pursuant to this clause (u) and then outstand   ing, does not exceed $1-595,000,000;   (v) Indebtedness incurred by a Securitization Subsidiary in a Qualified Securitization   Financing that is not recourse (except for Standard Securitization Undertakings and Limited Orig   inator Recourse) to the Borrower or any of the Restricted Subsidiaries; and   (w) all premiums (if any), interest (including post-petition interest), fees, expenses,   charges and additional or contingent interest on obligations described in clauses (a) through (v)   above.   For purposes of determining compliance with any Dollar-denominated restriction on the incur   rence of Indebtedness, the Dollar-equivalent principal amount of Indebtedness denominated in a foreign   currency shall be calculated based on the relevant currency exchange rate in effect on the date such In   debtedness was incurred, in the case of term debt, or first committed, in the case of revolving credit debt;   provided that if such Indebtedness is incurred to extend, replace, refund, refInance, renew or defease other   Indebtedness denominated in a foreign currency, and such extension, replacement, refunding, refinancing,   renewal or defeasance would cause the applicable Dollar-denominated restriction to be exceeded if calcu   lated at the relevant currency exchange rate in effect on the date of such extension, replacement, refund   ing, refinancing, renewal or defeasance, such Dollar-denominated restriction shall be deemed not to have   been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed the prin   cipal amount of such Indebtedness being extended, replaced, refunded, refinanced, renewed or defeased,   plus the aggregate amount of fees, underwriting discounts, premiums (including tender premiums) and   other costs and expenses (including OlD) incurred in connection with such refinancing.   The accrual of interest, the accretion of accreted value and the payment of interest in the form of   additional Indebtedness shall not be deemed to be an incurrence of Indebtedness for purposes of this Sec   -118-    

 

tion 7.03. The principal amount of any non-interest bearing Indebtedness or other discount security con   stituting Indebtedness at any date shall be the principal amount thereof that would be shown on a balance   sheet of the Borrower dated such date prepared in accordance with GAAP.   Section 7.04 Fundamental Changes.   Merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of (whether in one   transaction or in a series of transactions) all or substantially all of its assets (whether now owned or here   afier acquired) to or in favor of any Person (other than as part of the Transactions), except that:   (a) any Restricted Subsidiary may merge, amalgamate or consolidate with (i) the   Borrower (including a merger, the purpose of which is to reorganize the Borrower into a new ju   risdiction); provided that the Borrower shall be the continuing or surviving Person or (ii) one or   more other Restricted Subsidiaries; provided that when any Person that is a Loan Party is merging   with a Restricted Subsidiary, a Loan Party shall be the continuing or surviving Person;   (b) (i) any Subsidiary that is not a Loan Party may merge, amalgamate or consolidate   with or into any other Subsidiary that is not a Loan Party, (ii) any Subsidiary may liquidate or   dissolve and (iii) any Subsidiary may change its legal form if~ with respect to clauses (ii) and (iii),   the Borrower determines in good faith that such action is in the best interest of the Borrower and   its Subsidiaries and is not materially disadvantageous to the Lenders (it being understood that in   the case of any change in legal form, a Subsidiary that is a Guarantor will remain a Guarantor un   less such Guarantor is otherwise permitted to cease being a Guarantor hereunder);   (c) any Restricted Subsidiary may Dispose of all or substantially all of its assets (up   on voluntary liquidation or otherwise) to the Borrower or to another Restricted Subsidiary; pro   vided that if the transferor in such a transaction is a Guarantor, then (i) the transferee must be a   Guarantor (other than Holdings) or the Borrower or (ii) to the extent constituting an Investment,   such Investment must be a permitted Investment in or Indebtedness of a Restricted Subsidiary   which is not a Loan Party in accordance with Sections 7.02 (other than Section 7.02(e)) and 7.03,   respectively; and   (d) so long as no Default has occurred and is continuing or would result therefrom,   the Borrower may merge or consolidate with any other Person; provided that (i) the Borrower   shall be the continuing or surviving corporation or (ii) if the Person formed by or surviving any   such merger or consolidation is not the Borrower (any such Person, the “Successor Company”),   (A) the Successor Company shall be an entity organized or existing under the Laws of the United   States, any state thereof or the District of Columbia, (B) the Successor Company shall expressly   assume all the obligations of the Borrower under this Agreement and the other Loan Documents   to which the Borrower is a party pursuant to a supplement hereto or thereto in form reasonably   satisfactory to the Administrative Agent, (C) each Guarantor, unless it is the other party to such   merger or consolidation, shall have confirmed that its Guarantee shall apply to the Successor   Company’s obligations under the Loan Documents, (D) each Guarantor, unless it is the other par   ty to such merger or consolidation, shall have by a supplement to the Security Agreement and   other applicable Collateral Documents confirmed that its obligations thereunder shall apply to the   Successor Company’s obligations under the Loan Documents, (E) if requested by the Administra   tive Agent, each mortgagor of a Mortgaged Property, unless it is the other party to such merger or   consolidation, shall have by an amendment to or restatement of the applicable Mortgage (or other   instrument reasonably satisfactory to the Administrative Agent) confirmed that its obligations   thereunder shall apply to the Successor Company’s obligations under the Loan Documents, and   -119-    

 

(F) the Borrower shall have delivered to the Administrative Agent an officer’s certificate and an   opinion of counsel, each stating that such merger or consolidation and such supplement to this   Agreement or any Collateral Document comply with this Agreement; provided,further, that if the   foregoing are satisfied, the Successor Company will succeed to, and be substituted for, the Bor   rower under this Agreement;   (e) so long as no Default has occurred and is continuing or would result therefrom   (in the case of a merger involving a Loan Party), any Restricted Subsidiary may merge or consol   idate with any other Person in order to effect an Investment permitted pursuant to Section 7.02;   provided that the continuing or surviving Person shall be a Restricted Subsidiary of the Borrower,   which together with each of its Restricted Subsidiaries, shall have complied with the requirements   of Section 6.11 to the extent required pursuant to the Collateral and Guarantee Requirement;   (f) Holdings, the Borrower and the Restricted Subsidiaries may consummate the   Acquisition, related transactions contemplated by the Acquisition Agreement (and documents re   lated thereto) and the Transactions; and   (g) so long as no Default has occurred and is continuing or would result therefrom, a   merger, dissolution, liquidation, consolidation or Disposition, the purpose of which is to effect a   Disposition permitted pursuant to Section 7.05.   Section 7.05 Dispositions.   Make any Disposition or enter into any agreement to make any Disposition (other than as part of   or in connection with the Transactions), except:   (a) Dispositions of obsolete, worn out, used or surplus property, whether now owned   or hereafter acquired, in the ordinary course of business and Dispositions of property no longer   used or useffil in the conduct of the business of the Borrower or any of its Restricted Subsidiaries;   (b) Dispositions of inventory, goods held for sale in the ordinary course of business   and immaterial assets (including allowing any registrations or any applications for registration of   any IP Rights to lapse or go abandoned) in the ordinary course of business;   (c) Dispositions of property to the extent that (i) such property is exchanged for   credit against the purchase price of similar replacement property or (ii) the proceeds of such Dis   position are promptly applied to the purchase price of such replacement property;   (d) Dispositions of property to the Borrower or any Restricted Subsidiary; provided   that if the transferor of such property is a Loan Party, (i) the transferee thereof must be a Loan   Party (other than Holdings) or (ii) if such transaction constitutes an Investment, such transaction   is permitted under Section 7.02;   (e) to the extent constituting Dispositions, transactions permitted by Sections 7.01,   7.02 (other than Section 7.02(e)), 7.04 (other than Section 7.04(g)) and 7.06 (other than 7.06(d));   (f) [Reserved);   (g) Dispositions of Cash Equivalents;   -120-    

 

(h) (i) leases, subleases, licenses or sublicenses (including the provision of software   under an open source license), in each case in the ordinary course of business or which do not   materially interfere with the business of the Borrower or any of its Restricted Subsidiaries, (ii)   Dispositions of II’ Rights that do not materially interfere with the business of the Borrower or any   of its Restricted Subsidiaries and (iii) any Foreign IP Transfer;   (i) transfers of property subject to Casualty Events;   U) Dispositions of property; provided that (i) at the time of such Disposition (other   than any such Disposition made pursuant to a legally binding commitment entered into at a time   when no Default has occurred and is continuing), no Default shall have occurred and been con   tinuing or would result from such Disposition-. • (ii) with respect to any Disposition pursuant to   this clause 0) for a purchase price in excess of $42 7,500,000 the Borrower or any of its Restrict   ed Subsidiaries shall receive not less than 7500 of such consideration in the form of cash or Cash   Equivalents (in each case, free and clear of all Liens at the time received, other than nonconsen   sual Liens permitted by Section 7.01 and Liens permitted by Sections 7.0 1(a), (f), (k), (1), (p), (q),   (r)(i), (r)(ii), (s) and (dd) (only to the extent the Obligations are secured by such cash and Cash   Equivalents)); provided, however, that for the purposes of this clause (j)(ii), the following shall be   deemed to be cash: (A) any liabilities (as shown on the Borrower’s most recent balance sheet   provided hereunder or in the footnotes thereto) of the Borrower or such Restricted Subsidiary,   other than liabilities that are by their terms subordinated to the payment in cash of the Obliga   tions, that are assumed by the transferee with respect to the applicable Disposition and for which   the Borrower and all of its Restricted Subsidiaries shall have been validly released by all applica   ble creditors in writing, (B) any securities received by the Borrower or the applicable Restricted   Subsidiary from such transferee that are converted by the Borrower or such Restricted Subsidiary   into cash or Cash Equivalents (to the extent of the cash or Cash Equivalents received) within 180   days following the closing of the applicable Disposition, and (C) aggregate non-cash considera   tion received by the Borrower or the applicable Restricted Subsidiary having an aggregate fair   market value (determined as of the closing of the applicable Disposition for which such non-cash   consideration is received) not to exceed the greater of •,000,000 and 2.O00o of Total Assets   at any time (net of any non-cash consideration converted into cash and Cash Equivalent   .- .. - . . -- -. I .- .   - . — — — - I - —   II• III - .. -   I III III   (k) [Reserved];   (1) Dispositions or discounts without recourse of accounts receivable in connection   with the compromise or collection thereof in the ordinary course of business;   (m) Dispositions of property pursuant to sale-leaseback transactions; provided that to   the extent the aggregate Net Proceeds from all such Dispositions since the Closing Date exceeds   -121-    

 

$75,000,000, such excess may be reinvested in accordance with the definition of “Net Proceeds”   or otherwise applied to prepay Term Loans in accordance with Section 2.05(b)(ii);   (n) any swap of assets in exchange for services or other assets in the ordinary course   of business of comparable or greater value or usefulness to the business of the Borrower and its   Subsidiaries as a whole, as determined in good faith by the management of the Bontwer;   (o) any sale of Equity Interests in, or Indebtedness or other securities of; an Unre   stricted Subsidiary;   (p) Dispositions of Investments in joint ventures to the extent required by, or made   pursuant to customary buy sell arrangements between, the joint venture parties set forth in joint   venture arrangements and similar binding arrangements;   (q) the unwinding of any Swap Contract;   (r) the lapse or abandonment in the ordinary course of business of any registrations   or applications for registration of any immaterial IP Rights;   (s) any Disposition of Securitization Assets to a Securitization Subsidiary; provided   that to the extent the aggregate Not Proceeds from all such Dispositions since the Closing Date   exceeds $75,000 000, such excess shall be applied to prepay Term Loans in accordance with Sec   tion 2.05(b)(ii) and ma)’ not be reinvested in the business of the Borrower or a Rectncted Subsidi   my; and   (t) the issuance of Nominal Shares~~4   u the Dis osition of that certain brand of Insi ht relatin to the Bonine Assets as   defmed in the FTC Order and identified to the Administrative A ent nor to the Amendment   No. 2 Effective Datr rovided that the Net Proceeds of such Dis sition shall be a lied to re   a an outstandin Term B-l Loans and Term B-2 Loans on a ro rata basis in accordance with   Section 2.05 ii and ma not be reinvested m the business of the Borrower or a Restricted Sub   sidiary.   provided that any Disposition of any property pursuant to this Section 7.05 (except pursuant to Sections   I 7.05(e), (i), (p), (q), (r)). (s). and (su and except for Dispositions from a Loan Party to any other Loan   Party) shall be for no less than the fair market value of such property at the time of such Disposition as   determined by the Borrower in good faith. To the extent any Collateral is Disposed of as expressly per   mitted by this Section 7.05 to any Person other than a Loan Party, such Collateral shall be sold free and   clear of the Liens created by the Loan Documents, and the Administrative Agent shall be authorized to   take any actions deemed appropriate in order to effect the foregoing.   Section 7.06 Restricted Payments.   Declare or make, directly or indirectly, any Restricted Payment, except:   (a) each Restricted Subsidiary may make Restricted Payments to the Borrower, and   other Restricted Subsidiaries of the Borrower (and, in the case of such a Restricted Payment by a   non-wholly owned Restricted Subsidiary, to the Borrower and any other Restricted Subsidiary    

 

and to each other owner of Equity Interests of such Restricted Subsidiary based on their relative   ownership interests of the relevant class of Equity Interests);   (b) the Borrower and each Restricted Subsidiary may declare and make dividend   payments or other Restricted Payments payable solely in the Equity Interests (other than Disqual   ified Equity Interests not otherwise permitted by Section 7.03) of such Person (and, in the case of   such a Restricted Payment by a non-wholly owned Restricted Subsidiary, to the Borrower and   any other Restricted Subsidiary and to each other owner of Equity Interests of such Restricted   Subsidiary based on their relative ownership interests of the relevant class of Equity Interests);   (c) Restricted Payments made (i) on the Closing Date to consummate the Transac   tions, (ii) in respect of working capital adjustments or purchase price adjustments pursuant to the   Acquisition Agreement or the Split Brands Acquisition Agreement and (iii) in order to satisfy in   demnity and other similar obligations under the Acquisition Agreement or the Split Brands Ac   quisition Agreement;   (d) to the extent constituting Restricted Payments, the Borrower (or any direct or in   direct parent thereof) and its Restricted Subsidiaries may enter into and consummate transactions   expressly permitted by any provision of Section 7.02 (other than 7.02(e) and (m)), 7.04 or 7.08   (other than Section 7.08W) or 7.08W);   (e) repurchases of Equity Interests in Holdings, the Borrower or any Restricted Sub   sidiary of Holdings deemed to occur upon exercise of stock options or warrants if such Equity In   terests represent a portion of the exercise price of such options or warrants;   (f) the Borrower and each Restricted Subsidiary may (i) pay (or make Restricted   Payments to allow Holdings or any other direct or indirect parent thereof to pay) for the repur   chase, retirement or other acquisition or retirement for value of Equity Interests of such Restricted   Subsidiary (or of the Borrower or any other such direct or indirect parent thereof) held by any fu   ture, present or former employee, officer, director, manager or consultant (or any spouses, former   spouses, successors, executors, administrators, heirs, legatees or distributes of any of the forego   ing) of such Restricted Subsidiary (or the Borrower or any other direct or indirect parent thereof)   or any of its Subsidiaries or (H) make Restricted Payments in the form of distributions to allow   Holdings or any direct or indirect parent of Holdings to pay principal or interest on promissory   notes that were issued to any future, present or former employee, officer, director, manager or   consultant (or any spouses, former spouses, successors, executors, administrators, heirs, legatees   or distributes of any of the foregoing) of such Restricted Subsidiary (or the Borrower or any other   direct or indirect parent thereof) in lieu of cash payments for the repurchase, retirement or other   acquisition or retirement for value of such Equity Interests held by such Persons, in each case,   upon the death, disability, retirement or termination of employment of any such Person or pursu   ant to any employee, manager or director equity plan, employee, manager or director stock option   plan or any other employee, manager or director benefit plan or any agreement (including any   stock subscription or shareholder agreement) with any employee, director, officer or consultant of   such Restricted Subsidiary (or the Borrower or any other direct or indirect parent thereof) or any   of its Restricted Subsidiaries; provided that the aggregate amount of Restricted Payments made   pursuant to this clause (f) together with the aggregate amount of loans and advances to Holdings   made pursuant to Section 7.02(m) in lieu of Restricted Payments permitted by this clause (f) shall   not exceed $2030,000,000 in any calendar year (with unused amounts in any calendar year being   carried over to succeeding calendar years subject to a maximum (without giving effect to the fol   -123-    

 

lowing proviso) of $4060,000,000 in any calendar year); providedfurther that such amount in any   calendar year may further be increased by an amount not to exceed:   (A) amounts used to increase the Cumulative Credit pursuant to clauses )   and ( ) of the defmition of “Cumulative Credit”;   (B) the Net Proceeds of key man life insurance policies received by the Bor   rower or its Restricted Subsidiaries less the amount of Restricted Payments previously   made with the cash proceeds of such key man life insurance policies;   and providedfurther that cancellation of Indebtedness owing to the Borrower from members of   management of the Borrower, any of the Borrower’s direct or indirect parent companies or any of   the Borrower’s Restricted Subsidiaries in connection with a repurchase of Equity Interests of any   of the Borrower’s direct or indirect parent companies will not be deemed to constitute a Restrict   ed Payment for purposes of this covenant or any other provision of this Agreement;   (g) the Borrower may make Restricted Payments in an aggregate amount not to ex   ceed, when combined with prepayment of Indebtedness pursuant to Section 7.1 3(a)(iv), (x)   $5070,000,000, nii~ (y) if (A) the Total Leverage Ratio calculated on a Pro Forma Basis is less   than or equal to 4 to 1.00 and (B) the Secured Leverage Ratio calculated on a Pro Forma   Basis is less than or equal to 3.75 to 1.00, the Cumulative Credit at such time; provided, that with   respect to any Restricted Payment made pursuant to clause (y) above, no Default has occurred   and is continuing or would result therefrom;   (h) the Borrower may make Restricted Payments to any direct or indirect parent of   the Borrower:   (ii) to pay its operating costs and expenses incurred in the ordinary course of   business and other corporate overhead costs and expenses (including administrative, le   gal, accounting and similar expenses provided by third parties), which are reasonable and   customary and incurred in the ordinary course of business and attributable to the owner   ship or operations of the Borrower and its Restricted Subsidiaries, Transaction Expenses   and any reasonable and customary indemnification claims made by directors or officers   of such parent attributable to the ownership or operations of the Borrower and its Re   stricted Subsidiaries;   (iii) the proceeds of which shall be used to pay (or make Restricted Payments   to allow any direct or indirect parent thereof to pay) franchise taxes, and other fees and   expenses, required to maintain its (or any of its direct or indirect parents’) corporate ex   istence;   (iv) for any taxable period in which the Borrower and/or any of its Subsidiar   ies is a member of a consolidated, combined or similar income tax group of which a di   rect or indirect parent of Borrower is the common parent (a “Tax Group”), to pay feder   al, foreign, state and local income taxes of such Tax Group that are attributable to the   taxable income of the Borrower and/or its Subsidiaries; provided that, for each taxable   period, the amount of such payments made in respect of such taxable period in the aggre   gate shall not exceed the amount that the Borrower and its Subsidiaries would have been   required to pay as a stand-alone Tax Group; providedfurther that the permitted payment   pursuant to this clause (iii) with respect to any Taxes of any Unrestricted Subsidiary for   -124-    

 

any taxable period shall be limited to the amount actually paid with respect to such period   by such Unrestricted Subsidiary to the Borrower or its Restricted Subsidiaries for the   purposes of paying such consolidated, combined or similar income Taxes;   (v) to finance any Investment that would be permitted to be made pursuant   to Section 7.02 and Section 7.08 if such parent were subject to such sections; provided   that (A) such Restricted Payment shall be made substantially concurrently with the clos   ing of such Investment and (B) such parent shall, immediately following the closing   thereof, cause (1) all property acquired (whether assets or Equity Interests) to be contrib   uted to the Borrower or the Restricted Subsidiaries or (2) the merger (to the extent per   mitted in Section 7.04) of the Person formed or acquired into the Borrower or its Re   stricted Subsidiaries in order to consummate such Permitted Acquisition or Investment, in   each case, in accordance with the requirements of Section 6.11;   (vi) the proceeds of which (A) shall be used to pay customary salary, bonus   and other benefits payable to officers and employees of Holdings or any direct or indirect   parent company of Holdings to the extent such salaries, bonuses and other benefits are at   tributable to the ownership or operation of the Borrower and the Restricted Subsidiaries   or (B) shall be used to make payments permitted under Sections 7.08 (i) and (p) (but only   to the extent such payments have not been and are not expected to be made by the Bor   rower or a Restricted Subsidiary); and   (vii) the proceeds of which shall be used by Holdings to pay (or to make Re   stricted Payments to allow any direct or indirect parent thereof to pay) fees and expenses   (other than to Affiliates) related to any unsuccessful equity or debt offering by Holdings   (or any direct or indirect parent thereof) that is directly attributable to the operations of   the Borrower and its Restricted Subsidiaries;   (i) payments made or expected to be made by Holdings, the Borrower or any of the   Restricted Subsidiaries in respect of withholding or similar Taxes payable by or with respect to   any future, present or former employee, director, manager or consultant (or any spouses, former   spouses, successors, executors, administrators, heirs, legatees or distributes of any of the forego   ing) and any repurchases of Equity Interests in consideration of such payments including deemed   repurchases, in each case, in connection with the exercise of stock options;   ~) Holdings, the Borrower or any of the Restricted Subsidiaries may pay cash in lieu   of fractional Equity Interests in connection with any dividend, split or combination thereot or any   Permitted Acquisition, or any vesting of Equity Interests; and   (k) Restricted Payments in the amount of any Excluded Contribution.   Section 7.07 Change in Nature of Business.   Engage in any material line of business substantially different from those lines of business con   ducted by the Borrower and the Restricted Subsidiaries on the Closing Date or any business reasonably   related, complementary, synergistic or ancillary thereto (including related, complementary, synergistic or   ancillary technologies) or reasonable extensions thereof   -125-    

 

Section 7.08 Transactions with Affiliates.   Enter into any transaction of any kind with any Affiliate of the Borrower, whether or not in the   ordinary course of business, with a fair market value in excess of $10 000 000 other than   (a) transactions among Holdings and its Restricted Subsidiaries,   (b) on terms substantially as favorable to Holdings or such Restricted Subsidiary as   would be obtainable by Holdings or such Restricted Subsidiary at the time in a comparable arm’s-   length transaction with a Person other than an Affiliate,   (c) the Transactions and the payment of fees and expenses (including Transaction   Expenses) as part of or in connection with the Transactions,   (d) [reserved],   (e) [reserved],   (f) Restricted Payments permitted under Section 7.06,   (g) transactions by Holdings and its Restricted Subsidiaries permitted under an ex   press provision (including any exceptions thereto) of this Article VII,   (h) employment and severance arrangements between Holdings and its Restricted   Subsidiaries and theft respective officers and employees in the ordinary course of business and   transactions pursuant to stock option plans and employee benefit plans and arrangements in the   ordinary course of business,   (i) the payment of customary fees and reasonable out of pocket costs to, and indem   nities provided on behalf of, directors, officers, employees and consultants of the Borrower and   its Restricted Subsidiaries (or any direct or indirect parent of the Borrower) in the ordinary course   of business to the extent attributable to the ownership or operation of the Borrower and its Re   stricted Subsidiaries,   0) transactions pursuant to agreements, instruments or arrangements in existence on   the endment No. 2 Effective Date and set forth in Section Schedule 7.08 of the Confi   dential Dicolosure Letterto Amendment No. 2 or any amendment thereto to the extent such an   amendment is not adverse to the Lenders in any material respect,   (k) [reserved],   (1) payments by the Borrower or any of its Subsidiaries pursuant to any tax sharing   agreements with any direct or indirect parent of the Borrower to the extent attributable to the   ownership or operation of the Borrower and the Subsidiaries, but only to the extent permitted by   Section 7.06(h)(iii),   (m) the issuance or transfer of Equity Interests (other than Disqualified Equity Inter   ests) of Holdings to any former, current or future director, manager, officer, employee or consult   ant (or any spouses, former spouses, successors, executors, administrators, heirs, legatees, distrib    

 

utes or Affiliate of any of the foregoing) of the Borrower, any of its Subsidiaries or any direct or   indirect parent thereof,   (n) transactions with customers, clients, joint venture partners, suppliers or purchas   ers or sellers of goods or services, in each case in the ordinary course of business and otherwise in   compliance with the terms of this Agreement that are fair to the Borrower and the Restricted Sub   sidiaries, in the reasonable determination of the board of directors or the senior management of   the Borrower, or are on terms at least as favorable as might reasonably have been obtained at such   time from an unaffiliated party,   (o) any payments required to be made pursuant to the Acquisition Agreement or the   Split Brands Acquisition Agreement,   (p) the payment of reasonable out-of-pocket costs and expenses and indemnities pur   suant to the stockholders agreement or the registration and participation rights agreement entered   into on the Closing Date in connection therewith,   (q) transactions in which Holdings or any of the Restricted Subsidiaries, as the case   may be, deliver to the Administrative Agent a letter from an Independent Financial Advisor stat   ing that such transaction is fair to Holdings or such Restricted Subsidiary from a financial point of   view or meets the requirements of clause (b) of this Section 7.08,   (r) payments to or from, and transactions with, joint ventures (to the extent any such   joint venture is only an Affiliate as a result of Investments by Holdings and the Restricted Subsid   iaries in such joint venture) in the ordinary course of business to the extent otherwise permitted   under Section 7.02,   (s) [reserved], and   (t) any Disposition of Securitization Assets or related assets, Investment permitted   pursuant to Section 7.02(t) or Standard Securitization Undertakings, in each case in connection   with any Qualified Securitization Financing.   Section 7.09 Burdensome Agreements.   Enter into or permit to exist any Contractual Obligation (other than this Agreement or any other   Loan Document) that limits the ability of   (a) any Restricted Subsidiary of the Borrower that is not a Guarantor to make Re   stricted Payments to the Borrower or any Guarantor or   (b) any Loan Party to create, incur, assume or suffer to exist Liens on property of   such Person for the benefit of the Lenders with respect to the Facilities and the Obligations or un   der the Loan Documents; provided that the foregoing clauses (a) and (b) shall not apply to Con   tractual Obligations which   (i) (x) exist on the Qle€uigAmendment No 2 Effective Date and (to the ex   tent not otherwise permitted by this Section 7.09) are listed in Section Schedule 7.09 €4’   the Confidential Disclosure Letterto Amendment No. 2 and (y) to the extent Contractual   Obligations permitted by clause (x) are set forth in an agreement evidencing Indebted-   -127-    

 

ness, are set forth in any agreement evidencing any permitted modification, replacement,   renewal, extension or refinancing of such Indebtedness so long as such modification, re   placement, renewal, extension or refinancing does not expand the scope of such Contrac   tual Obligation,   (ii) are binding on a Restricted Subsidiary at the time such Restricted Sub   sidiary first becomes a Restricted Subsidiary of the Borrower, so long as such Contractual   Obligations were not entered into solely in contemplation of such Person becoming a Re   stricted Subsidiary of the Borrower; provided, further, that this clause (ii) shall not apply   to Contractual Obligations that are binding on a Person that becomes a Restricted Subsid   iary pursuant to Section 6.14,   (Hi) represent Indebtedness of a Restricted Subsidiary of the Borrower which   is not a Loan Party which is permitted by Section 7.03 and which does not apply to any   Loan Party,   (iv) are customary restrictions that arise in connection with (x) any Lien per   mitted by Sections 7.01(a), (k), (1), (p), (q), (r)(i), (r)(ii), (s) and (ee) and relate to the   property subject to such Lien or (y) arise in connection with any Disposition permitted by   Section 7.04 or 7.05 and relate solely to the assets or Person subject to such Disposition,   (v) are customary provisions in joint venture agreements and other similar   agreements applicable to joint ventures permitted under Section 7.02 and applicable sole   ly to such joint venture entered into in the ordinary course of business,   (vi) are negative pledges and restrictions on Liens in favor of any holder of   Indebtedness permitted under Section 7.03 but solely to the extent any negative pledge   relates to (i) the property financed by such Indebtedness and the proceeds and products   thereof or (ii) the property secured by such Indebtedness and the proceeds and products   thereof so long as the agreements governing such Indebtedness permit the Liens securing   the Obligations,   (vii) are customary restrictions on leases, subleases, licenses or asset sale   agreements otherwise permitted hereby so long as such restrictions relate to the property   interest, rights or the assets subject thereto,   (viii) comprise restrictions imposed by any agreement relating to se   cured Indebtedness permitted pursuant to Section 7.03(e), (g), (n)(a), and (u) and to the   extent that such restrictions apply only to the property or assets securing such Indebted   ness or, in the case of Section 7.03(g), to the Restricted Subsidiaries incurring or guaran   teeing such Indebtedness,   (ix) are customary provisions restricting subletting or assignment of any lease   governing a leasehold interest of the Borrower or any Restricted Subsidiary,   (x) are customary provisions restricting assignment of any agreement en   tered into in the ordinary course of business,   (xi) are restrictions on cash or other deposits imposed by customers under   contracts entered into in the ordinary course of business,   -128-    

 

(xii) arise in connection with cash or other deposits permitted under Sections   7.01 and 7.02 and limited to such cash or deposit, and   (xiii) comprise restrictions imposed by any agreement governing In   debtedness entered into on or after the Closing Date and permitted under Section 7.03   (including, without limitation, the ABL Credit Agreement, the Senior Notes, the Existing   Notes and, in each case, any Permitted Refinancing in respect thereof) that are, taken as a   whole, in the good faith judgment of the Borrower, no more restrictive with respect to the   Borrower or any Restricted Subsidiary than customary market terms for Indebtedness of   such type (and, in any event, are no more restrictive than the restrictions contained in this   Agreement), so long as the Borrower shall have determined in good faith that such re   strictions will not affect its obligation or ability to make any payments required hereun   der.   Section 7.10 Use of Proceeds.   Use the proceeds of any Borrowing, whether directly or indirectly (a) on the Closing Date, in a   manner inconsistent with the uses set forth in the preliminary statements to this Agreement or (b) after the   Closing Date, use the proceeds for any purpose other than to pay costs and expenses related to the Trans   actions and for general corporate purposes and working capital needs.   Loans.   tions.   Use the proceeds of all Term B-i Loans for any purpose other than to refinance the Term B   Use he roceeds of all Term 8-2 Loans for an u ose other than to finance the 2014 Transac   Section 7.11 Financial Covenants.   (a) Total Leverage Ratio. Permit the Total Leverage Ratio as of the last day of any Test Pe   riod to be greater than the ratio set forth below opposite the last fiscal quarter of such Test Period:   Fiscal Year Ending   March 31, 20135   March 31, 20146   March31, 20157   March 31, 20168   March 31, 2019 and thereaf   ter   First Quarter   NA   ?408.00: 1.00   6.0075:1.00   4455.50:1.00   34.50:1.00   Second Quarter   608 00:1.00   7.0075:1.00   .50:1.00   4405.25:1.00   3-504.25:1.00   Third Quarter   408.00: 1.00   6457.25:1.00   5-506.25:1.00   4255.00:1.00   340400:1.00   Fourth Quarter   ?258.00: 1.00   6407.00:1.00   5.2575:1.00   4.0075:1.00   3.5075:1.00   (b) Consolidated Cash Interest Coverage Ratio. Permit the Consolidated Cash Interest Cov   erage Ratio as of the last day of any Test Period to be less than the ratio set forth below opposite the last   fiscal quarter of such Test Period:   Fiscal Year Ending   March 31, 20135   March 31, 20146   March31, 20157   March 31, 201-62018 and   First Quarter   15OIOONA   4-,602.25:1.00   2.0050:1.00   2-253 00:1.00   Second Quarter   4402.25:1.00   4402.25:1.00   2.0075:1.00   23.25:1.00   Third Quarter   4402.25:1.00   4402.50:1.00   2.0075:1.00   23.25:1.00   Fourth Quarter   4402 25:1.00   4-402 50:1.00   23.00:1.00   2253.50:1.00   -129-    

 

thereafter   March31 2017 and thereafter 250:1 00   Section 7.12 Accounting Changes.   Make any change in its fiscal year; provided, however, that Holdings may, upon written notice to   the Administrative Agent, change its fiscal year to any other fiscal year reasonably acceptable to the Ad   ministrative Agent, in which case, the Borrower and the Administrative Agent will, and are hereby au   thorized by the Lenders to, make any adjustments to this Agreement that are necessary to reflect such   change in fiscal year.   Section 7.13 Prepayments, Etc. of Certain Indebtedness.   (a) Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity   thereof in any manner (it being understood that payments of regularly scheduled principal, interest and   mandatory prepayments shall be permitted) any subordinated Indebtedness incurred under Section 7.03,   or any other Indebtedness for borrowed money of a Loan Party that is subordinated to the Obligations   expressly by its terms (other than Indebtedness among the Borrower and its Restricted Subsidiaries   Senior Notes any uneecured Permitted Ratio Debt or any Permitted Refinancing of any Senior Notes or   any unsecured Permitted Ratio Debti (collectively, “Junior Financing”), except (i) the refinancing there   of with any Indebtedness (to the extent such Indebtedness constitutes a Permitted Refinancing and, if such   Indebtedness was originally incurred under Section 7.03(g), is permitted pursuant to Section 7.03(g)), to   the extent not required to prepay any Loans pursuant to Section 2.05(b), (ii) the conversion or exchange   of any Junior Financing to Equity Interests (other than Disqualified Equity Interests) of Holdings or any   of its direct or indirect parents, (iii) the prepayment of Indebtedness of the Borrower or any Restricted   Subsidiary to the Borrower or any Restricted Subsidiary and (iv) prepayments, redemptions, purchases,   defeasances and other payments in respect of Junior Financings prior to their scheduled maturity in an   aggregate amount not to exceed, when combined with the amount of Restricted Payments pursuant to   Section 7.06(g), $100,000,000 ~ if (A) the Total Leverage Ratio calculated on a Pro Forma Basis is   less than or equal to 44~5.50 to 1.00 and (B) the Secured Leverage Ratio calculated on a Pro Forma Basis   is less than or equal to 3.75 to 1.00, the Cumulative Credit at such time.   (b) Amend, modify or change in any manner materially adverse to the interests of the Lend   ers any term or condition of any Junior Financing Documentation in respect of any Junior Financing hav   ing an aggregate outstanding principal amount in excess of the Threshold Amount without the consent of   the Administrative Agent (which consent shall not be unreasonably withheld or delayed).   Section 7.14 Permitted Activities.   With respect to Holdings, engage in any material operating or business activities; provided that   the following and any activities incidental thereto shall be permitted in any event: (i) its ownership of the   Equity Interests of Borrower and activities incidental thereto, including payment of dividends and other   amounts in respect of its Equity Interests, (ii) the maintenance of its legal existence (including the ability   to incur fees, costs and expenses relating to such maintenance), (iii) the performance of its obligations   with respect to the Loan Documents and any other Indebtedness, (iv) any public offering of its common   stock or any other issuance or sale of its Equity Interests, (v) financing activities, including the issuance   of securities, incurrence of debt, payment of dividends, making contributions to the capital of the Borrow   er and guaranteeing the obligations of the Borrower, (vi) participating in tax, accounting and other admin   istrative matters as a member of the consolidated group of Holdings and the Borrower, (vii) holding any   cash or property (but not operating any property), (viii) providing indemnification to officers and direc   -130-    

 

tors and (ix) any activities incidental to the foregoing. Holdings shall not incur any Liens on Equity In   terests of the Borrower other than those for the benefit of the Obligations, the obligations under the ABL   Facility, Permitted First Priority Refinancing Debt, Permitted Junior Priority Refinancing Debt, secured   Permitted Ratio Debt and the Pan Passu Obligations.   ARTICLE Viii.   EVENTS OF DEFAULT AND REMEDIES   Section 8.01 Events of Default.   Any of the following from and after the Closing Date shall constitute an event of default (an   “Event of Default”):   (a) Non-Payment. Any Loan Party fails to pay (i) when and as required to be paid   herein, any amount of principal of any Loan, or (ii) within five (5) Business Days after the same   becomes due, any interest on any Loan or any other amount payable hereunder or with respect to   any other Loan Document; or   (b) Specific Covenants. Holdings, the Borrower, any Restricted Subsidiary or, in the   case of Section 7.14, Holdings only, fails to perform or observe any tenn, covenant or agreement   contained in any of Sections 6.03(a) or 6.05(a) (solely with respect to the Borrower) or Article   VII; provided that the covenants in Section 7.11 are subject to cure pursuant to Section 8.04; or   (c) Other Defaults. Holdings, the Borrower or any Restricted Subsidiary fails to per   form or observe any other covenant or agreement (not specified in Section 8.0 1(a) or (b) above)   contained in any Loan Document on its part to be performed or observed and such failure contin   ues for thirty (30) days after receipt by the Borrower of written notice thereof from the Adminis   trative Agent; or   (d) Representations and Warranties. Any representation, warranty, certification or   statement of fact made or deemed made by any Loan Party herein, in any other Loan Document,   or in any document required to be delivered in connection herewith or therewith shall be incorrect   in any material respect when made or deemed made; or   (e) Cross-Default. Any Loan Party or any Restricted Subsidiary (A) fails to make   any payment beyond the applicable grace period, if any, whether by scheduled maturity, required   prepayment, acceleration, demand, or otherwise, in respect of any Indebtedness (other than In   debtedness hereunder) having an aggregate outstanding principal amount of not less than the   Threshold Amount, or (B) fails to observe or perform any other agreement or condition relating to   any such Indebtedness, or any other event occurs (other than, with respect to Indebtedness con   sisting of Swap Contracts, termination events or equivalent events pursuant to the terms of such   Swap Contracts and not as a result of any default thereunder by any Loan Party), the effect of   which default or other event is to cause, or to permit the holder or holders of such Indebtedness   (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause,   with the giving of notice if required, such Indebtedness to become due or to be repurchased, pre   paid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, de   fease or redeem such Indebtedness to be made, prior to its stated maturity; provided that this   clause (e)(B) shall not apply to secured Indebtedness that becomes due as a result of the voluntary   sale or transfer of the property or assets securing such Indebtedness, if such sale or transfer is   permitted hereunder; provided, further, that such failure is unrcmedied and is not waived by the   -131-    

 

holders of such Indebtedness prior to any termination of the Commitments or acceleration of the   Loans pursuant to Section 8.02; or   (f) Insolvency Proceedings, Etc. Any Loan Party or any Material Subsidiary insti   tutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an   assignment for the benefit of creditors; or applies for or consents to the appointment of any re   ceiver, trustee, custodian, conservator, liquidator, rehabilitator, administrator, administrative re   ceiver or similar officer for it or for all or any material part of its property; or any receiver, trus   tee, custodian, conservator, liquidator, rehabilitator, administrator, administrative receiver or sim   ilar officer is appointed without the application or consent of such Person and the appointment   continues undischarged or unstayed for sixty (60) calendar days; or any proceeding under any   Debtor Relief Law relating to any such Person or to all or any material part of its property is insti   tuted without the consent of such Person and continues undismissed or unstayed for sixty (60)   calendar days, or an order for relief is entered in any such proceeding; or   (g) Attachment. Any writ or warrant of attachment or execution or similar process is   issued or levied against all or any material part of the property of the Borrower and the Restricted   Subsidiaries, taken as a whole, and is not released, vacated or fully bonded within sixty (60) days   after its issue or levy; or   (h) Judgments. There is entered against any Loan Party or any Restricted Subsidiary   a final judgment or order for the payment of money in an aggregate amount exceeding the   Threshold Amount (to the extent not covered by independent third-party insurance as to which   the insurer has been notified of such judgment or order and has not denied coverage) and such   judgment or order shall not have been satisfied, vacated, discharged or stayed or bonded pending   an appeal for a period of sixty (60) consecutive days; or   (i) Invalidity ofLoan Documents. Any material provision of any Loan Document, at   any time after its execution and delivery and for any reason other than as expressly pennitted   hereunder or thereunder (including as a result of a transaction permitted under Section 7.04 or   7.05) or as a result of acts or omissions by the Administrative Agent or any Lender or the satis   faction in full of all the Obligations, ceases to be in full force and effect; or any Loan Party con   tests in writing the validity or enforceability of any provision of any Loan Document or the va   lidity or priority of a Lien as required by the Collateral Documents on a material portion of the   Collateral; or any Loan Party denies in writing that it has any or further liability or obligation un   der any Loan Document (other than as a result of repayment in full of the Obligations and termi   nation of the Aggregate Commitments), or purports in writing to revoke or rescind any Loan   Document; or   U) Change of Control. There occurs any Change of Control; or   (k) Collateral Documents. Any Collateral Document after delivery thereof pursuant   to Section 4.01, 6.11 or 6.13 shall for any reason (other than pursuant to the terms thereof includ   ing as a result of a transaction not prohibited under this Agreement) cease to create a valid and   perfected Lien, with the priority required by the Collateral Documents on and security interest in   any material portion of the Collateral purported to be covered thereby, subject to Liens permitted   under Section 7.01, (i) except to the extent that any such perfection or priority is not required pur   suant to the Collateral and Guarantee Requirement or results from the failure of the Administra   tive Agent to maintain possession of certificates actually delivered to it representing securities   pledged under the Collateral Documents or to file Uniform Commercial Code continuation state-   -132-    

 

ments and (ii) except as to Collateral consisting of Real Property to the extent that such losses are   covered by a lender’s title insurance policy and such insurer has not denied coverage; or   (1) ERISA. (i) An ERISA Event occurs which has resulted or could reasonably be   expected to result in liability of a Loan Party or a Restricted Subsidiary in an aggregate amount   which could reasonably be expected to result in a Material Adverse Effect, or (ii) a Loan Party,   any Restricted Subsidiary or any ERISA Affiliate fails to pay when due, after the expiration of   any applicable grace period, any installment payment with respect to its withdrawal liability un   der Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount which could rea   sonably be expected to result in a Material Adverse Effect.   Section 8.02 Remedies Upon Event of Default.   If any Event of Default occurs and is continuing, the Administrative Agent may and, at the re   quest of the Required Lenders, shall take any or all of the following actions:   (i) [Reserved];   (ii) declare the unpaid principal amount of all outstanding Loans, all interest accrued   and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan   Document to be immediately due and payable, without presentment, demand, protest or other no   tice of any kind, all of which are hereby expressly waived by the Borrower;   (iii) [Reserved]; and   (iv) exercise on behalf of itself and the Lenders all rights and remedies available to it   and the Lenders under the Loan Documents or applicable Law;   provided that upon the occurrence of an actual or deemed entry of an order for relief with respect to Bor   rower under the Bankruptcy Code of the United States or any Debtor Relief Laws, the obligation of each   Lender to make Loans shall automatically tenninate and the unpaid principal amount of all outstanding   Loans and all interest and other amounts as aforesaid shall automatically become due and payable, in each   case without further act of the Administrative Agent or any Lender.   Section 8.03 Application of Funds.   Subject to the ABL Intercreditor Agreement, after the exercise of remedies provided for in Sec   tion 8.02 (or after the Loans have automatically become immediately due and payable as set forth in the   proviso to Section 8.02), any amounts received on account of the Obligations shall be applied by the Ad   ministrative Agent in the following order (to the fullest extent permitted by mandatory provisions of ap   plicable Law):   First, to payment of that portion of the Obligations constituting fees, indemnities, ex   penses and other amounts (other than principal and interest, but including Attorney Costs payable   under Section 10.04 and amounts payable under Article III) payable to the Administrative Agent   in its capacity as such;   Second, to payment of that portion of the Obligations constituting fees, indemnities and   other amounts (other than principal and interest) payable to the Lenders (including Attorney   -133-    

 

Costs payable under Section 10.04 and amounts payable under Article III), ratably among them in   proportion to the amounts described in this clause Second payable to them;   Third, to payment of that portion of the Obligations constituting accrued and unpaid in   terest on the Loans and any fees, premiums and scheduled periodic payments due under Term   Loan Secured Hedge Agreements, ratably among the Secured Parties in proportion to the respec   tive amounts described in this clause Third payable to them;   Fourth, to payment of that portion of the Obligations constituting unpaid principal of the   Loans and any breakage, termination or other payments under Term Loan Secured Hedge   Agreements, ratably among the Secured Parties in proportion to the respective amounts described   in this clause Fourth held by them;   Fjflh, to the payment of all other Obligations of the Loan Parties that are due and payable   to the Administrative Agent and the other Secured Parties on such date, ratably based upon the   respective aggregate amounts of all such Obligations owing to the Administrative Agent and the   other Secured Parties on such date; and   Last, the balance, if any, after all of the Obligations have been paid in full, to the Bor   rower or as otherwise required by Law.   Notwithstandin an hin to the cont in this A eement or an other Loan Document in no   circumstances shal an amounts received from a Loan Part that is not an “eli ble contract ici nt”   as defined in the Commodit Exchan e Act be a lied towards the a ent of obli ations that are Ex   cluded Swa Obli ations but to the extent rmit ed b a icable law a ro nate adustments shall be   made with respect to payments from other Loan Parties that are “eligible contract participants” to pre   serve as nearl as ossible the ro ortional allocation to the Obli ations otherwise set forth above in this   Section.   Section 8.04 Borrower’s Right to Cure.   Notwithstanding anything to the contrary contained in Section 8.01 or Section 8.02:   (a) For the purpose of determining whether an Event of Default under Section 7.11   has occurred, the Borrower may on one or more occasions designate any portion of the net cash   proceeds from a sale or issuance of Qualified Equity Interests of Holdings or any cash contribu   tion to the common capital of the Borrower (the “Cure Amount”) as an increase to Consolidated   EBITDA for the applicable fiscal quarter; provided that such amounts to be designated (i) are ac   tually received by the Borrower after the first day of such applicable fiscal quarter and on or prior   to the tenth (10th) Business Day after the date on which financial statements are required to be   delivered with respect to such applicable fiscal quarter (the “Cure Expiration Date”), (ii) do not   exceed the aggregate amount necessary to cure any Event of Default under Section 7.11 as of   such date and (iii) Borrower shall have provided notice (the “Notice of Intent to Cure”) to the   Administrative Agent on the date such amounts are designated as a “Cure Amount” (it being un   derstood that to the extent such notice is provided in advance of delivery of a Compliance Certifi   cate for the applicable period, the amount of such Net Proceeds that is designated as the Cure   Amount may be lower than specified in such notice to the extent that the amount necessary to   cure any Event of Default under Section 7.11 is less than the full amount of such originally desig   nated amount). The Cure Amount used to calculate Consolidated EBITDA for one fiscal quarter   -134-    

 

shall be used and included when calculating Consolidated EBITDA for each Test Period that in   cludes such fiscal quarter.   (b) The parties hereby acknowledge that this Section 8.04 may not be relied on for   purposes of calculating any financial ratios other than for determining actual compliance with   Section 7.11 (and not Pro Forma Compliance with Section 7.11 that is required by any other pro   vision of this Agreement) and shall not result in any adjustment to any amounts (including the   amount of Indebtedness and shall not be included for purposes of determining pricing, mandatory   prepayments and the availability or amount permitted pursuant to any covenant under Article VII)   with respect to the quarter with respect to which such Cure Amount was made other than the   amount of the Consolidated EBITDA referred to in the immediately preceding sentence.   (c) In furtherance of clause (a) above, (A) upon actual receipt and designation of the   Cure Amount by the Borrower, the covenants under Section 7.11 shall be deemed satisfied and   complied with as of the end of the relevant fiscal quarter with the same effect as though there had   been no failure to comply with the covenants under such Section 7.11 and any Event of Default   under Section 7.11 shall be deemed not to have occurred for purposes of the Loan Documents,   and (B) upon receipt by the Administrative Agent of a Notice of Intent to Cure prior the Cure Ex   piration Date, neither the Administrative Agent nor any Lender may exercise any rights or reme   dies under Section 8.02 (or under any other Loan Document) on the basis of any actual or pur   ported Event of Default under Section 7.11 until and unless the Cure Expiration Date has oc   cuffed without the Cure Amount having been received and designated.   (d) (i) In each period of four consecutive fiscal quarters, there shall be at least two   (2) fiscal quarters in which no cure right set forth in this Section 8.04 is exercised and (ii) there   shall be no proforma reduction in Indebtedness with the Cure Amount for determining compli   ance with Section 7.11 for the fiscal quarter with respect to which such Cure Amount was made.   (e) There can be no more than five (5) fiscal quarters in which the cure rights set   forth in this Section 8.04 are exercised during the term of the Facilities.   ARTICLE IX.   ADMINISTRATIVE AGENT AND OTHER AGENTS   Section 9.01 Appointment and Authority.   (a) Each of the Lenders hereby irrevocably appoints Citi to act on its behalf as the Adminis   trative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to   take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent   by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto.   The provisions of this Article are solely for the benefit of the Administrative Agent and the Lenders, and   no Loan Party have rights as a third party beneficiary of any of such provisions.   (b) The Administrative Agent shall also act as the “collateral agent” under the Loan Docu   ments, and each of the Lenders (including in its capacities as a potential Hedge Bank) hereby irrevocably   appoints and authorizes the Administrative Agent to act as the agent of such Lender for purposes of ac   quiring, holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties to se   cure any of the Obligations, together with such powers and discretion as are reasonably incidental thereto.   In this connection, the Administrative Agent, as “collateral agent” and any co-agents, sub-agents and at   torneys-in-fact appointed by the Administrative Agent pursuant to Section 9.05 for purposes of holding or   -135-    

 

enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents, or   for exercising any rights and remedies thereunder at the direction of the Administrative Agent, shall be   entitled to the benefits of all provisions of this Article DC and Article X (including the second paragraph   of Section 10.05), as though such co-agents, sub-agents and attorneys-in-fact were the “collateral agent”   under the Loan Documents as if set forth in fill herein with respect thereto. Without limiting the general   ity of the foregoing, the Lenders hereby expressly authorize the Administrative Agent to execute any and   all documents (including releases) with respect to the Collateral and the rights of the Secured Parties with   respect thereto, as contemplated by and in accordance with the provisions of this Agreement and the Col   lateral Documents and acknowledge and agree that any such action by any Agent shall bind the Lenders.   Section 9.02 Rights as a Lender.   The Person serving as the Administrative Agent hereunder shall have the same rights and powers   in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Ad   ministrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or un   less the context otherwise requires, include the Person serving as the Administrative Agent hereunder in   its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the   financial advisor or in any other advisory capacity for and generally engage in any kind of business with   the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative   Agent hereunder and without any duty to account therefor to the Lenders.   Section 9.03 Exculpatory Provisions.   The Administrative Agent shall not have any duties or obligations except those expressly set forth   herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Adminis   trative Agent:   (a) shall not be subject to any fiduciary or other implied duties, regardless of whether   a Default has occurred and is continuing;   (b) shall not have any duty to take any discretionary action or exercise any discre   tionary powers, except discretionary rights and powers expressly contemplated hereby or by the   other Loan Documents that the Administrative Agent is required to exercise as directed in writing   by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly   provided for herein or in the other Loan Documents), provided that the Administrative Agent   shall not be required to take any action that, in its opinion or the opinion of its counsel, may ex   pose the Administrative Agent to liability or that is contrary to any Loan Document or applicable   law; and   (c) shall not, except as expressly set forth herein and in the other Loan Documents,   have any duty to disclose, and shall not be liable for the failure to disclose, any information relat   ing to the Borrower or any of its Affiliates that is communicated to or obtained by the Person   serving as the Administrative Agent or any of its Affiliates in any capacity.   (d) The Administrative Agent shall not be liable for any action taken or not taken by   it (i) with the consent or at the request of the Required Lenders (or such other number or percent   age of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good   faith shall be necessary, under the circumstances as provided in Sections 10.01 and 8.02) or (ii) in   the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be   -136-    

 

deemed not to have knowledge of any Default unless and until notice describing such Default is   given to the Administrative Agent by the Borrower or a Lender.   (e) The Administrative Agent shall not be responsible for or have any duty to ascer   tain or inquire into (i) any statement, warranty or representation made in or in connection with   this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other   document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the per   formance or observance of any of the covenants, agreements or other terms or conditions set forth   herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness   or genuineness of this Agreement, any other Loan Document or any other agreement, instrument   or document, or the creation, perfection or priority of any Lien purported to be created by the   Collateral Documents, (v) the value or the sufficiency of any Collateral, or (vi) the satisfaction of   any condition set forth in Article TV or elsewhere herein, other than to confirm receipt of items   expressly required to be delivered to the Administrative Agent.   Section 9.04 Reliance by Administrative Agent.   The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for rely   ing upon, any notice, request, certificate, consent, statement, instrument, document or other writing (in   cluding any electronic message, Internet or intranet website posting or other distribution) believed by it to   be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Adminis   trative Agent also may rely upon any statement made to it orally or by telephone and believed by it to   have been made by the proper Person, and shall not incur any liability for relying thereon. In determining   compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit,   that by its terms must be flilfilled to the satisfaction of a Lender, the Administrative Agent may presume   that such condition is satisfactory to such Lender unless the Administrative Agent shall have received no   tice to the contrary from such Lender prior to the making of such Loan. The Administrative Agent may   consult with legal counsel (who may be counsel for the Borrower), independent accountants and other   experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the   advice of any such counsel, accountants or experts.   Section 9.05 Delegation of Duties.   The Administrative Agent may perform any and all of its duties and exercise its rights and powers   hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the   Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its   duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory   provisions of this Article TX shall apply to any such sub-agent and to the Related Parties of the Adminis   trative Agent and any such sub-agent, and shall apply to their respective activities in connection with the   syndication of the credit facilities provided for herein as well as activities as Administrative Agent.   Section 9.06 Rcsjj nation of Administrative Agent.   The Administrative Agent may at any time give notice of its resignation to the Lenders and the   Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, with   the consent of the Borrower at all times other than upon the occurrence and during the continuation of an   Event of Default under Section 8.01(f) (which consent of the Borrower shall not be unreasonably with   held or delayed), to appoint a successor, which shall be a bank with an office in the United States, or an   Affiliate of any such bank with an office in the United States. If no such successor shall have been so   appointed by the Required Lenders and shall have accepted such appointment within 30 days after the   -137-    

 

retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may,   on behalf of the Lenders, appoint a successor Administrative Agent meeting the qualifications set forth   above; provided that if the Administrative Agent shall notify the Borrower and the Lenders that no quali   f’ying Person has accepted such appointment, then such resignation shall nonetheless become effective in   accordance with such notice and (a) the retiring Administrative Agent shall be discharged from its duties   and obligations hereunder and under the other Loan Documents (except that in the case of any collateral   security held by the Administrative Agent on behalf of the Lenders under any of the Loan Documents, the   retiring Administrative Agent shall continue to hold such collateral security until such time as a successor   Administrative Agent is appointed) and (b) all payments, communications and determinations provided to   be made by, to or through the Administrative Agent shall instead be made by or to each Lender directly,   until such time as the Required Lenders appoint a successor Administrative Agent as provided for above   in this Section 9.06. Upon the acceptance of a successor’s appointment as Administrative Agent hereun   der, such successor shall succeed to and become vested with all of the rights, powers, privileges and du   ties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be dis   charged from all of its duties and obligations hereunder or under the other Loan Documents (if not al   ready discharged therefrom as provided above in this Section 9.06). The fees payable by the Borrower to   a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise   agreed between the Borrower and such successor. Afier the retiring Administrative Agent’s resignation   hereunder and under the other Loan Documents, the provisions of this Article and Sections 10.04 and   10.05 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and   their respective Related Parties in respect of any actions taken or omitted to be taken by any of them   while the retiring Administrative Agent was acting as Administrative Agent.   Section 9.07 Non-Reliance on Administrative Agent and Other Lenders.   Each Lender acknowledges that it has, independently and without reliance upon the Administra   tive Agent or any other Lender or any of their Related Parties and based on such documents and infor   mation as it has deemed appropriate, made its own credit analysis and decision to enter into this Agree   ment. Each Lender also acknowledges that it will, independently and without reliance upon the Adminis   trative Agent or any other Lender or any of their Related Parties and based on such documents and infor   mation as it shall from time to time deem appropriate, continue to make its own decisions in taking or not   taking action under or based upon this Agreement, any other Loan Document or any related agreement or   any document furnished hereunder or thereunder.   Section 9.08 No Other Duties, Etc.Anything herein to the contrary notwithstanding, none of   the Administrative Agent, Bookrunners, Arrangers, Syndication Agents or Documentation Agents listed   on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of   the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent or a Lender   hereunder.   Section 9.09 Administrative Agent May File Proofs of Claim.   In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial pro   ceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any   Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of   whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and   empowered, by intervention in such proceeding or otherwise   (a) to file and prove a claim for the whole amount of the principal and interest owing   and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file   -138-    

 

such other documents as may be necessary or advisable in order to have the claims of the Lenders   and the Administrative Agent (including any claim for the reasonable compensation, expenses,   disbursements and advances of the Lenders and the Administrative Agent and their respective   agents and counsel and all other amounts due the Lenders and the Administrative Agent under   Sections 2.09, 10.04 and 10.05) allowed in such judicial proceeding; and   (b) to collect and receive any monies or other property payable or deliverable on any   such claims and to distribute the same;   and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such   judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative   Agent and, if the Administrative Agent shall consent to the making of such payments directly to the   Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses,   disbursements and advances of the Administrative Agent and its agents and counsel, and any other   amounts due the Administrative Agent under Sections 2.09 and 10.04 and 10.05.   Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or   consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment   or composition affecting the Obligations or the rights of any Lender to authorize the Administrative   Agent to vote in respect of the claim of any Lender or in any such proceeding.   Section 9.10 Collateral and Guaranty Matters.   Each of the Lenders (including in its capacities as a potential Hedge Banlc) irrevocably authorizes   the Administrative Agent:   (a) to automatically release any Lien on any property granted to or held by the Ad   ministrative Agent under any Loan Document (i) upon termination of the Aggregate Commit   ments and payment in fill of all Obligations (other than (A) contingent indemnification obliga   tions and (B) obligations and liabilities under Term Loan Secured Hedge Agreements as to which   arrangements satisfactory to the applicable Hedge Bank shall have been made), (ii) at the time the   property subject to such Lien is Disposed or to be Disposed to any Person other than a Loan Party   as part of or in connection with any Disposition permitted hereunder or under any other Loan   Document, (iii) subject to Section 10.01, if the release of such Lien is approved, authorized or rat   ified in writing by the Required Lenders, (iv) if the property subject to such Lien is owned by a   Guarantor, upon release of such Guarantor from its obligations under its Guaranty pursuant to   clause (c) below or (v) that constitutes Excluded Assets;   (b) to release or subordinate any Lien on any property granted to or held by the Ad   ministrative Agent under any Loan Document to the holder of any Lien on such property that is   permitted by Section 7.01(u) to the extent required by the holder of, or pursuant to the terms of   any agreement governing, the obligations secured by such Liens; and   (c) to release any Guarantor from its obligations under the Guaranty if such Person   ceases to be a Restricted Subsidiary or becomes an Excluded Subsidiary as a result of a transac   tion or designation permitted hereunder; provided that no such release shall occur if such Guaran   tor continues to be a guarantor in respect of any Indebtedness incurred pursuant to Section   7.03(r), the Existing Notes, any Permitted First Priority Refinancing Debt, any Permitted Junior   Priority Refinancing Debt, any Permitted Unsecured Refinancing Debt, any Junior Financing or   any Permitted Refinancing of any of the foregoing.   -139-    

 

Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writ   ing the Administrative Agent’s authority to release or subordinate its interest in particular types or items   of property, or to release any Guarantor from its obligations under the Guaranty pursuant to this Sec   tion 9.10. In each case as specified in this Section 9.10, the Administrative Agent will (and each Lender   irrevocably authorizes the Administrative Agent to), at the Borrower’s expense, execute and deliver to the   applicable Loan Party such documents as such Loan Party may reasonably request to evidence the release   of such item of Collateral from the assignment and security interest granted under the Collateral Docu   ments or to subordinate its interest in such item, or to evidence the release of such Guarantor from its ob   ligations under the Guaranty, in each case in accordance with the terms of the Loan Documents and this   Section 9.10.   Section 9.11 Tenn Loan Secured Hedge Agreements; Jntercreditor Agreements.   Except as otherwise expressly set forth herein or in any Guaranty or any Collateral Document, no   Hedge Bank that obtains the benefits of Section 8.03, any Guaranty or any Collateral by virtue of the pro   visions hereof or of any Guaranty or any Collateral Document shall have any right to notice of any action   or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise   in respect of the Collateral (including the release or impairment of any Collateral) other than in its capaci   ty as a Lender and, in such case, only to the extent expressly provided in the Loan Documents. Notwith   standing any other provision of this Article IX to the contrary, the Administrative Agent shall not be re   quired to verify the payment of, or that other satisfactory arrangements have been made with respect to,   Obligations arising under Term Loan Secured Hedge Agreements unless the Administrative Agent has   received written notice of such Obligations, together with such supporting documentation as the Adminis   trative Agent may request, from the applicable Hedge Bank.   The Lenders hereby authorize the Administrative Agent to enter into any First Lien Intercreditor   Agreement, any Junior Lien Jntercreditor Agreement or other intercreditor agreement or arrangement   permitted under this Agreement and any such intercreditor agreement is binding upon the Lenders.   Section 9.12 Withholding Tax Indemnity.   To the extent required by any applicable Laws, the Administrative Agent may withhold from any   payment to any Lender an amount equivalent to any applicable withholding Tax. If the Internal Revenue   Service or any other authority of the United States or other jurisdiction asserts a claim that the Adminis   trative Agent did not properly withhold Tax from amounts paid to or for the account of any Lender for   any reason (including, without limitation, because the appropriate form was not delivered or not properly   executed, or because such Lender failed to notify the Administrative Agent of a change in circumstance   that rendered the exemption from, or reduction of withholding Tax ineffective), such Lender shall, within   10 days after written demand therefor, indemnify and hold harmless the Administrative Agent (to the ex   tent that the Administrative Agent has not already been reimbursed by a Loan Party pursuant to Sec   tion 3.01 and Section 3.04 and without limiting or expanding the obligation of the Loan Parties to do so)   for all amounts paid, directly or indirectly, by the Administrative Agent as Taxes or otherwise, together   with all expenses incurred, including legal expenses and any other out-of-pocket expenses, whether or not   such Tax was correctly or legally imposed or asserted by the relevant Governmental Authority. A certifi   cate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent   shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set   off and apply any and all amounts at any time owing to such Lender under this Agreement or any other   Loan Document against any amount due the Administrative Agent under this Section 9.12. The agree   ments in this Section 9.12 shall survive the resignation and/or replacement of the Administrative Agent,   -140-    

 

any assignment of rights by, or the replacement of, a Lender and the repayment, satisfaction or discharge   of all other Obligations.   ARTICLE X.   MISCELLANEOUS   Section 10.01 Amendments. Etc.Except as otherwise set forth in this Agreement, no   ment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any   departure by any Loan Party therefrom, shall be effective unless in writing signed by the Required Lend   ers (or by the Administrative Agent with the consent of the Required Lenders) and the applicable Loan   Party, as the case may be, and each such waiver or consent shall be effective only in the specific instance   and for the specific purpose for which given; provided that, no such amendment, waiver or consent shall:   (a) extend or increase the Commitment of any Lender without the written consent of   each Lender holding such Commitment (it being understood that a waiver of any condition prece   dent or of any Default, mandatory prepayment or mandatory reduction of any Commitments shall   not constitute an extension or increase of any Commitment of any Lender);   (b) postpone any date scheduled for, or reduce or forgive the amount of; any pay   ment of principal or interest under Section 2.07 or 2.08 (other than pursuant to Section 2.08(b)) or   postpone any date for the payment of fees hereunder without the written consent of each Lender   directly affected thereby, it being understood that the waiver of (or amendment to the tenns of)   any mandatory prepayment of the Loans shall not constitute a postponement of any date sched   uled for the payment of principal or interest and it further being understood that any change to the   defmition of “Consolidated First Lien Net Leverage Ratio,” “Consolidated Cash Interest Cover   age Ratio,” “Total Leverage Ratio” or “Secured Leverage Ratio” or, in each case, in the compo   nent definitions thereof shall not constitute a reduction or forgiveness in any rate of interest;   (c) reduce or forgive the principal of, or the rate of interest specified herein on, any   Loan, or (subject to clause (i) of the second proviso to this Section 10.01) any fees or other   amounts payable hereunder or under any other Loan Document (or extend the timing of payments   of such fees or other amounts) without the written consent of each Lender directly affected there   by, it being understood that any change to the definition of “Consolidated First Lien Net Leverage   Ratio,” “Consolidated Cash Interest Coverage Ratio,” “Total Leverage Ratio” or “Secured Lever   age Ratio” or, in each case, in the component definitions thereof shall not constitute a reduction in   any rate of interest; provided that only the consent of the Required Lenders shall be necessary to   amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest   at the Default Rate;   (d) change any provision of this Section 10.01 orthe definition of “Required Lend   ers,” “Required Facility Lenders,” “Required Class Lenders” or any other provision specifying   the number of Lenders or portion of the Loans or Commitments required to take any action under   the Loan Documents or Section 8.03, without the written consent of each Lender directly affected   thereby (it being understood that each Lender shall be directly and adversely affected by a change   to the “Required Lenders” definition or the “Pro Rata Share” definition);   (e) other than in connection with a transaction permitted under Section 7.04 or Sec   tion 7.05, release all or substantially all of the Collateral in any transaction or series of related   transactions, without the written consent of each Lender; or   -141-    

 

(0 other than in connection with a transaction permitted under Section 7.04 or Sec   tion 7.05, release all or substantially all of the aggregate value of the Guarantees, without the   written consent of each Lender;   and provided,further, that (i) no amendment, waiver or consent shall, unless in writing and signed by the   Administrative Agent in addition to the Lenders required above, affect the rights or duties of, or any fees   or other amounts payable to, the Administrative Agent under this Agreement or any other Loan Document   and (ii) Section 10.07(h) may not be amended, waived or otherwise modified without the consent of each   Granting Lender all or any part of whose Loans are being funded by an SPC at the time of such amend   ment, waiver or other modification.   Notwithstanding the foregoing, no Lender consent is required to effect any amendment or sup   plement to the ABL lntercreditor Agreement, any First Lien Intercreditor Agreement, any Junior Lien   Intercreditor Agreement or other intercreditor agreement or arrangement permitted under this Agreement   that is for the purpose of adding the holders of Permitted First Priority Refinancing Debt, or Permitted   Junior Priority Refinancing Debt, as expressly contemplated by the terms of such ABL Jntercreditor   Agreement, such First Lien Intercreditor Agreement, such Junior Lien Jntercreditor Agreement or such   other intercreditor agreement or arrangement permitted under this Agreement, as applicable (it being un   derstood that any such amendment or supplement may make such other changes to the applicable inter-   creditor agreement as, in the good faith determination of the Administrative Agent, are required to effec   tuate the foregoing and provided that such other changes are not adverse, in any material respect, to the   interests of the Lenders); provided,further, that no such agreement shall amend, modify or otherwise af   fect the rights or duties of the Administrative Agent hereunder or under any other Loan Document with   out the prior written consent of the Administrative Agent.   Notwithstanding the foregoing, this Agreement may be amended (or amended and restated) with   the written consent of the Required Lenders, the Administrative Agent and the Borrower (a) to add one or   more additional credit facilities to this Agreement and to permit the extensions of credit from time to time   outstanding thereunder and the accrued interest and fees in respect thereof to share ratably in the benefits   of this Agreement and the other Loan Documents with the Term Loans and the accrued interest and fees   in respect thereof and (b) to include appropriately the Lenders holding such credit facilities in any deter   mination of the Required Lenders.   In addition, notwithstanding the foregoing, this Agreement may be amended with the written con   sent of the Administrative Agent, the Borrower and the Lenders providing the Replacement Term Loans   (as defined below) to permit the refinancing of all outstanding Term Loans of any Class (“Refinanced   Term Loans”) with replacement term loans (“Replacement Term Loans”) hereunder; provided that (a)   the aggregate principal amount of such Replacement Term Loans shall not exceed the aggregate principal   amount of such Refinanced Term Loans, (b) the Applicable Rate for such Replacement Term Loans shall   not be higher than the Applicable Rate for such Refinanced Term Loans unless the maturity of the Re   placement Term Loans is at least one year later than the maturity of the Refinanced Term Loans, (c) the   Weighted Average Life to Maturity of Replacement Term Loans shall not be shorter than the Weighted   Average Life to Maturity of such Refinanced Term Loans, at the time of such refmancing (except by vir   tue of amortization or prepayment of the Refinanced Term Loans prior to the time of such incurrence) and   (d) all other terms applicable to such Replacement Term Loans shall be substantially identical to, or less   favorable to the Lenders providing such Replacement Term Loans than, those applicable to such Re   financed Term Loans except to the extent necessary to provide for covenants and other terms applicable   to any period afier the Latest Maturity Date of the Term Loans in effect immediately prior to such refi   nancing.   -142-    

 

Notwithstanding anything to the contrary contained in this Section 10.01, guarantees, collateral   security documents and related documents executed by Subsidiaries in connection with this Agreement   may be in a form reasonably determined by the Administrative Agent and may be, together with this   Agreement, amended and waived with the consent of the Administrative Agent at the request of the Bor   rower without the need to obtain the consent of any other Lender if such amendment or waiver is deliv   ered in order (i) to comply with local Law or advice of local counsel or (ii) to cause such guarantee, col   lateral security document or other document to be consistent with this Agreement and the other Loan   Documents.   Section 10.02 Notices and Other Communications; Facsimile Copies.   (a) Notices; Effectiveness: Electronic Communications.   (A) Notices Generally. Except in the case of notices and other communications expressly   permitted to be given by telephone (and except as provided in subsection (B) below), all notices and other   communications provided for herein shall be in writing and shall be delivered by hand or overnight couri   er service, mailed by certified or registered mail or sent by telecopier as follows, and all notices and other   communications expressly permitted hereunder to be given by telephone shall be made to the applicable   telephone number, as follows:   (i)if to the Borrower or the Administrative Agent, to the address, telecopier number, elec   tronic mail address or telephone number specified for such Person on Schedule 10.02; and   (ii)if to any other Lender, to the address, telecopier number, electronic mail address or   telephone number specified in its Administrative Questionnaire.   Notices and other communications sent by hand or overnight courier service, or mailed by certified or   registered mail, shall be deemed to have been given when received; notices and other communications   sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal   business hours for the recipient, shall be deemed to have been given at the opening of business on the next   Business Day for the recipient). Notices and other communications delivered through electronic commu   nications to the extent provided in subsection (B) below shall be effective as provided in such subsec   tion (B).   (B) Electronic Communications. Notices and other communications to the Lenders hereun   der may be delivered or furnished by electronic communication (including e-mail and Internet or intranet   websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall   not apply to notices to any Lender pursuant to Article II if such Lender has notified the Administrative   Agent that it is incapable of receiving notices under such Article by electronic communication. The Ad   ministrative Agent or the Borrower may, in its discretion, agree to accept notices and other communica   tions to it hereunder by electronic communications pursuant to procedures approved by it, provided that   approval of such procedures may be limited to particular notices or communications.   Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent   to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the   intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other   written acknowledgement), provided that if such notice or other communication is not sent during the   normal business hours of the recipient, such notice or communication shall be deemed to have been sent   at the opening of business on the next Business Day for the recipient, and (ii) notices or communications   posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intend-   -143-    

 

ed recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or   communication is available and identifying the website address therefor.   (b) The Platfbrm. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.”   THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COM   PLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM,   AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BOR   ROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY,   INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PUR   POSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR   OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE   BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any   of its Related Parties (collectively, the “Agent Parties”) have any liability to the Loan Parties, any Lender   or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, con   tract or otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower   Materials through the Internet, except to the extent that such losses, claims, damages, liabilities or ex   penses are determined by a court of competent jurisdiction by a final and nonappealable judgment to have   resulted from the gross negligence or willfiil misconduct of such Agent Party; provided, however, that in   no event shall any Agent Party have any liability to the Loan Parties, any Lender or any other Person for   indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages).   (c) Change of Address, Etc. Each of the Borrower and the Administrative Agent may   change its address, telecopier or telephone number for notices and other communications hereunder by   notice to the other parties hereto. Each other Lender may change its address, telecopier or telephone   number for notices and other communications hereunder by notice to the Borrower and the Administra   tive Agent. In addition, each Lender agrees to notify the Administrative Agent from time to time to en   sure that the Administrative Agent has on record (i) an effective address, contact name, telephone num   ber, telecopier number and electronic mail address to which notices and other communications may be   sent and (ii) accurate wire instructions for such Lender. Furthermore, each Public Lender agrees to cause   at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side   Information” or similar designation on the content declaration screen of the Platform in order to enable   such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and   applicable Law, including United States Federal and state securities Laws, to make reference to Borrower   Materials that are not made available through the “Public Side Information” portion of the Platform and   that may contain material non-public information with respect to the Borrower or its securities for pur   poses of United States Federal or state securities laws.   (d) Reliance by Administrative Agent and Lenders. The Administrative Agent and the   Lenders shall be entitled to rely and act upon any notices (including telephonic Committed Loan Notices)   purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner   specified herein, were incomplete or were not preceded or followed by any other form of notice specified   herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof The   Borrower shall indemnify the Administrative Agent, each Lender and the Related Parties of each of them   from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice   purportedly given by or on behalf of the Borrower. All telephonic notices to and other telephonic com   munications with the Administrative Agent may be recorded by the Administrative Agent, and each of the   parties hereto hereby consents to such recording.   -144-    

 

Section 10.03 No Waiver Cumulative Remedies.   No failure by any Lender or the Administrative Agent to exercise, and no delay by any such Per   son in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document   shall operate as a waiver thereof~ nor shall any single or partial exercise of any right, remedy, power or   privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, reme   dy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under   each other Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privi   leges provided by Law.   Notwithstanding anything to the contrary contained herein or in any other Loan Document, the   authority to enforce rights and remedies hereunder and under the other Loan Documents against the Loan   Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection   with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in ac   cordance with Section 8.02 for the benefit of all the Lenders; provided, however, that the foregoing shall   not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that   inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan   Documents, (b) any Lender from exercising setoff rights in accordance with Section 10.09 (subject to the   terms of Section 2.13), or (c) any Lender from filing proofs of claim or appearing and filing pleadings on   its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor Relief   Law; and provided,further, that if at any time there is no Person acting as Administrative Agent hereun   der and under the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise   ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth   in clauses (b) and (c) of the preceding proviso and subject to Section 2.13, any Lender may, with the con   sent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Re   quired Lenders.   Section 10.04 Attorney Costs and Expenses.   The Borrower agrees (a) if the Closing Date occurs, to pay or reimburse the Administrative   Agent, the Syndication Agents, the Arrangers and the Bookrunners for all reasonable out-of-pocket costs   and expenses incurred in connection with the preparation, negotiation, syndication and execution of this   Agreement and the other Loan Documents, and any amendment, waiver, consent or other modification of   the provisions hereof and thereof (whether or not the transactions contemplated thereby are consuimnat   ed), and the consummation and administration of the transactions contemplated hereby and thereby, in   cluding all Attorney Costs of Cahill Gordon & Reindel LLP (and any other counsel retained with the Bor   rower’s consent (such consent not to be unreasonably withheld or delayed)) and, if necessary, one local   and foreign counsel in each relevant jurisdiction (which may include a single special counsel acting in   multiple jurisdictions) for the Administrative Agent and the Lenders taken as a whole and (b) from and   after the Closing Date, to pay or reimburse the Administrative Agent, the Syndication Agents, the Ar   rangers, the Bookrunners and the Lenders for all reasonable and documented out-of-pocket costs and ex   penses incurred in connection with the enforcement of any rights or remedies under this Agreement or the   other Loan Documents (including all such costs and expenses incurred during any legal proceeding, in   cluding any proceeding under any Debtor Relief Law, and including all respective Attorney Costs, which   shall be limited to Attorney Costs of one counsel to the Administrative Agent and the Lenders taken as a   whole and one local counsel as reasonably necessary in any relevant jurisdiction material to the interests   of the Lenders taken as a whole). The agreements in this Section 10.04 shall survive the termination of   the Aggregate Commitments and repayment of all other Obligations. All amounts due under this Sec   tion 10.04 shall be paid within thirty (30) days following receipt by the Borrower of an invoice relating   thereto setting forth such expenses in reasonable detail; provided that, with respect to the Closing Date, all   -145-    

 

amounts due under this Section 10.04 shall be paid on the Closing Date solely to the extent invoiced to   the Borrower within three (3) Business Days of the Closing Date (or such shorter period as the Borrower   may agree). If any Loan Party fails to pay when due any costs, expenses or other amounts payable by it   hereunder or under any Loan Document, such amount may be paid on behalf of such Loan Party by the   Administrative Agent in its discretion. For the avoidance of doubt, this Section 10.04 shall not apply to   Taxes, except any Taxes that represent costs and expenses arising from any non-Tax claim.   Section 10.05 Indemnification by the Borrower.   The Borrower shall indemnify and hold harmless each Agent, Agent-Related Person, Lender, Ar   ranger and Bookrunner and their Affiliates, and their respective officers, directors, employees, partners,   agents, counsel, advisors and other representatives of the foregoing (collectively the “Indemnitees”) from   and against any and all liabilities, obligations, losses, damages, penalties, claims, demands, actions,   judgments, suits, costs, expenses and disbursements (including reasonable Attorney Costs of one counsel   for all Indemnitees and, if necessary, one firm of local counsel in each appropriate jurisdiction (which   may include a single special counsel acting in multiple jurisdictions) for all Indemnitees (and, in the case   of an actual or perceived conflict of interest, where the Indemnitee affected by such conflict informs the   Borrower of such conflict and thereafier retains its own counsel, of another firm of counsel for such af   fected Indemnitee)) of any such Indemnitee of any kind or nature whatsoever which may at any time be   imposed on, incurred by or asserted against any such Indemnitee in any way relating to or arising out of   or in connection with (a) the execution, delivery, enforcement, performance or administration of any Loan   Document or any other agreement, letter or instrument delivered in connection with the transactions con   templated thereby or the consummation of the transactions contemplated thereby, (b) any Commitment or   Loan or the use or proposed use of the proceeds therefrom, (c) any actual or alleged presence or Release   of Hazardous Materials at, on, under or from any property or facility currently or formerly owned, leased   or operated by the Loan Parties or any Subsidiary, or any Environmental Liability of the Loan Parties or   any Subsidiary or (d) any actual or prospective claim, litigation, investigation or proceeding relating to   any of the foregoing, whether based on contract, tort or any other theory (including any investigation of,   preparation for, or defense of any pending or threatened claim, investigation, litigation or proceeding) (a   “Proceeding”) and regardless of whether any Indemnitee is a party thereto or whether or not such Pro   ceeding is brought by the Borrower or any other person and, in each case, whether or not caused by or   arising, in whole or in part, out of the negligence of the Indemnitee (all of the foregoing, collectively, the   “Indemnified Liabilities”); provided that such indemnity shall not, as to any Indemnitee, be available to   the extent that such liabilities, obligations, losses, damages, penalties, claims, demands, actions, judg   ments, suits, costs, expenses or disbursements resulted from (x) the gross negligence, bad faith or willful   misconduct of such Indemnitee or of any of its controlled Affiliates or controlling Persons or any of the   officers, directors, employees, agents, advisors or members of any of the foregoing, in each case who are   involved in or aware of the Transaction (as determined by a court of competent jurisdiction in a final and   non-appealable decision), (y) material breach of the Loan Documents by such Indemnitee or one of its   Affiliates, as determined by a fmal non-appealable judgment of a court of competent jurisdiction or (z)   disputes solely between and among such Indemnitees to the extent such disputes do not arise from any act   or omission of the Borrower or any of its Affiliates (other than with respect to a claim against an Indem   nitee acting in its capacity as an Agent or Arranger or similar role under the Loan Documents unless such   claim arose from the gross negligence, bad faith or willful misconduct, as determined by a final non   a ealable ud ent of a court of com tent ~unsdictio of such Indemnitee). No Indemnitee shall be   liable for any damages arising from the use by others of any information or other materials obtained   through IntraLinks or other similar information transmission systems in connection with this Agreement,   nor shall any Indemnitee, Loan Party or any Subsidiary have any liability for any special, punitive, indi   rect or consequential damages relating to this Agreement or any other Loan Document or arising out of its   activities in connection herewith or therewith (whether before or after the Closing Date) (other than, in   -146-    

 

the case of any Loan Party, in respect of any such damages incurred or paid by an Indemnitee to a third   party and for any out-of-pocket expenses); it being agreed that this sentence shall not limit the indemnifi   cation obligations of Holdings or any Subsidiary. In the case of an investigation, litigation or other pro   ceeding to which the indemnity in this Section 10.05 applies, such indemnity shall be effective whether or   not such investigation, litigation or proceeding is brought by any Loan Party, any Subsidiary of any Loan   Party, its directors, stockholders or creditors or an Indemnitee or any other Person, whether or not any   Indemnitee is otherwise a party thereto and whether or not any of the transactions contemplated hereunder   or under any of the other Loan Documents are consummated. All amounts due under this Section 10.05   shall be paid within thirty (30) days afler written demand therefor (together with backup documentation   supporting such reimbursement request); provided, however, that such Indemnitee shall promptly refund   such amount to the extent that there is a final judicial or arbitral determination that such Indemnitee was   not entitled to indemnification rights with respect to such payment pursuant to the express terms of this   Section 10.05. The agreements in this Section 10.05 shall survive the resignation of the Administrative   Agent, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment,   satisfaction or discharge of all the other Obligations. For the avoidance of doubt, this Section 10.05 shall   not apply to Taxes, except any Taxes that represent liabilities, obligations, losses, damages, penalties,   claims, demands, actions, prepayments, suits, costs, expenses and disbursements arising from any non-   Tax claims.   To the extent that the Borrower for any reason fails to indefeasibly pay any amount required un   der this Section 10.05 or Section 10.04 to be paid by it to the Administrative Agent (or any sub-agent   thereof) or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Adminis   trative Agent (or any such sub-agent) or such Related Party, as the case may be, such Lender’s Pro Rata   Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is   sought) of such unpaid amount, provided that the unreimbursed expense or indemnified loss, claim, dam   age, liability or related expense, as the case may be, was incurred by or asserted against the Administra   tive Agent (or any such sub-agent) in its capacity as such, or against any Related Party of any of the fore   going acting for the Administrative Agent (or any such sub-agent) in connection with such capacity.   Section 10.06 Payments Set Aside.   To the extent that any payment by or on behalf of the Borrower is made to the Administrative   Agent or any Lender, or the Administrative Agent or any Lender exercises its right of setoff and such   payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be   fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the   Administrative Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other par   ty, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of   such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and con   tinued in full force and effect as if such payment had not been made or such setoff had not occurred, and   (b) each Lender severally agrees to pay to the Administrative Agent upon demand its applicable share   (without duplication) of any amount so recovered from or repaid by the Administrative Agent, p~j~ inter   est thereon from the date of such demand to the date such payment is made at a rate per annum equal to   the Federal Funds Rate from time to time in effect. The obligations of the Lenders under clause (b) of the   preceding sentence shall survive the payment in full of the Obligations and the termination of this Agree   ment.   Section 10.07 Successors and Assigns.   (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the   parties hereto and their respective successors and assigns permitted hereby, except that the Borrower may   -147-    

 

not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent   of each Lender (except as permitted by Section 7.04) and no Lender may assign or otherwise transfer any   of its rights or obligations hereunder except (i) to an Assignee pursuant to an assignment made in accord   ance with the provisions of Section 10.07(b) (such an assignee, an “Eligible Assignee”) and in the case of   any Assignee that is Holdings or any of its Subsidiaries, Section 10.07(1), (ii) by way of participation in   accordance with the provisions of Section 10.07(e), (iii) by way of pledge or assignment of a security in   terest subject to the restrictions of Section 10.07(g) or (iv) to an SPC in accordance with the provisions of   Section 10.07(h) (and any other attempted assignment or transfer by any party hereto shall be null and   void); provided, however, that notwithstanding the foregoing, no Lender may assign or transfer by partic   ipation any of its rights or obligations hereunder to (i) a natural Person or (ii) to Holdings, the Borrower   or any of their respective Subsidiaries (except pursuant to Section 2.05(a)(v) or Section 10.07(1)). Noth   ing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the   parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provid   ed in Section 10.07(e) and, to the extent expressly contemplated hereby, the Jndemnitees) any legal or   equitable right, remedy or claim under or by reason of this Agreement.   (b) (i)Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to   one or more assignees (“Assignees”) all or a portion of its rights and obligations under this Agreement   (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written   consent (such consent not to be unreasonably withheld or delayed) of:   (A) the Borrower, provided that the Borrower shall be deemed to have consented to   any such assignment of the Term Loans unless it shall have objected thereto by written notice to   the Administrative Agent within ten (10) Business Days after having received notice thereof~   providedfurther that no consent of the Borrower shall be required for (i) an assignment of all or a   portion of the Term Loans (x) to a Lender, an Affiliate of a Lender or an Approved Fund or (y)   prior to the completion of primary syndication settlement of the Term B Loans, (ii) if an Event of   Default under Section 8.01(a) or, solely with respect to the Borrower, Section 8.01(0 has oc   curred and is continuing, any Assignee, (iii) an assignment of all or a portion of the Loans pursu   ant to Section 10.07(l)-or). (iv) prior to the date that is 90 days after the Amendment No. 1 Effec   tive Date, assignments made by the Additional Term B-i Lender or any of its affiliates in connec   tion with the primary allocation of the Term B-l Loanst-end or v nor to the date that is 90 da s   after the Amendment No. 2 Effective Date assi ents made b the Term B-2 Lender or an of   its affiliates in connection with the pnmary allocation of the Term B-2 Loans; and   (B) the Administrative Agent; provided that no consent of the Administrative Agent   shall be required for an assignment (i) of all or any portion of a Term Loan to a Lender, an Affili   ate of a Lender or an Approved Fund or (ii) from an Agent to its Affiliates.   Notwithstanding the foregoing or anything to the contrary set forth herein, to the extent any Lender is re   quired to assign any portion of its Commitments, Loans and other rights, duties and obligations hereunder   in order to comply with applicable Laws, such assignment may be made by such Lender without the con   sent of the Borrower, the Administrative Agent or any other party hereto so long as such Lender complies   with the requirements of Section 1 0.07(b)(ii).   (ii) Assignments shall be subject to the following additional conditions:   (C) except in the case of an assignment of the entire remaining amount of the assign   ing Lender’s Commitment or Loans of any Class, the amount of the Commitment or Loans of the   assigning Lender subject to each such assignment (determined as of the date the Assignment and   -148-    

 

Assumption with respect to such assignment is delivered to the Administrative Agent) shall not   be less than an amount of $1,000,000 (in the case of a Term Loan), and shall be in increments of   an amount of$1,000,000 (in the case of Term Loans) in excess thereof unless each of the Bor   rower and the Administrative Agent otherwise consents; provided that such amounts shall be ag   gregated in respect of each Lender and its Affiliates or Approved Funds, if any; providedfurther   that the requirements of this Section 1 0.07(b)(ii)(C) shall not apply to assignments made by the   Additional Term B-i Lender or any of its affiliates prior to the date that is 90 days after the   Amendment No. 1 Effective Date in connection with the primary allocation of the Term B-i   Loans, provided further that the requirements of this Section lO.07(bXii)(C) shall not aDuly to as   si ents made b the Term B-2 Lender or an of its affiliates nor to the date that is 90 da s af   er the Amendment No. 2 Effective Date in connection with the pnmary allocation of the Term B   2 Loans;   (D) the parties to each assignment shall execute and deliver to the Administrative   Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500;   provided that only one such fee shall be payable in the event of simultaneous assignments to or   from two or more Approved Funds; and   (E) other than in the case of assignments pursuant to Section 10.07(1), the Assignee,   if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Question   naire.   This paragraph (b) shall not prohibit any Lender from assigning all or a portion of its rights and   obligations among separate Facilities on a non-pro rata basis among such Facilities.   (c) Subject to acceptance and recording thereof by the Administrative Agent pursuant to Sec   tion 10.07(d), from and after the effective date specified in each Assignment and Assumption, (1) other   than in connection with an assignment pursuant to Section 10.07(1) the Eligible Assignee thereunder shall   be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assump   tion, have the rights and obligations of a Lender under this Agreement, and (2) the assigning Lender   thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released   from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering   all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a   party hereto but shall continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05, 10.04 and 10.05   with respect to facts and circumstances occuning prior to the effective date of such assignment). Upon   request, and the suffender by the assigning Lender of its Term Note, the Borrower (at its expense) shall   execute and deliver a Term Note to the assignee Lender. Any assignment or transfer by a Lender of rights   or obligations under this Agreement that does not comply with this clause (c) shall be treated for purposes   of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance   with Section 10.07(e).   (d) The Administrative Agent, acting solely for this purpose as an agent of the Borrower,   shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered   to it, and each notice of cancellation of any Loans delivered by the Borrower pursuant to Section 10.07(1)   and a register for the recordation of the names and addresses of the Lenders, and the Commitments of,   and principal amounts (and related interest amounts) of the Loans owing to, each Lender pursuant to the   terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, absent   manifest error, and the Borrower, the Agents and the Lenders shall treat each Person whose name is rec   orded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agree   ment, notwithstanding notice to the contrary. The Register shall be available for inspection by the Bor   -149-    

 

rower and any Lender (but in the case of any Lender, with respect to its own interest only), at any reason   able time and from time to time upon reasonable prior notice. This Section 10.07(d) and Section 2.11   shall be construed so that all Loans are at all times maintained in “registered form” within the meaning of   Section 163(f)), 871(h)(2) and 881(c)(2) of the Code and any related Treasury regulations (or any other   relevant or successor provisions of the Code or of such Treasury regulations).   (e) Any Lender may at any time, sell participations to any Person (other than a natural per   son) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this   Agreement (including all or a portion of its Commitment and/or the Loans owing to it); provided that (i)   such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain   solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrow   er, the Agents and the other Lenders shall continue to deal solely and directly with such Lender in con   nection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument   pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole   right to enforce this Agreement and the other Loan Documents and to approve any amendment, modifica   tion or waiver of any provision of this Agreement or the other Loan Documents; provided that such   agreement or instrument may provide that such Lender will not, without the consent of the Participant,   agree to any amendment, waiver or other modification described in clauses (a) through (f) of the first pro   viso to Section 10.01 that requires the affirmative vote of such Lender. Subject to Section 10.07(f), the   Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 (sub   ject to the requirements and limitations of such Sections) to the same extent as if it were a Lender and had   acquired its interest by assignment pursuant to Section 10.07(c). To the extent permitted by applicable   Law, each Participant also shall be entitled to the benefits of Section 10.09 as though it were a Lender;   provided that such Participant agrees to be subject to Section 2.13 as though it were a Lender. Each   Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrower, maintain   a register on which it enters the name and address of each Participant and the principal amounts (and re   lated interest amounts) of each participant’s interest in the Loans or other obligations under this Agree   ment (the “Participant Register”). The entries in the Participant Register shall be conclusive absent   manifest error, and such Lender shall treat each person whose name is recorded in the Participant Register   as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the   contrary. The portion of any Participant Register relating to any Participant or SPC requesting payment   from the Borrower or seeking to exercise its rights under Section 10.09 shall only be available for inspec   tion by the Borrower upon reasonable request to the extent that such disclosure is necessary in connection   with a Tax audit to establish that such commitment, loan, letter of credit or other obligation is in regis   tered form under Section 5f 103-1(c) of the United States Treasury Regulations.   (f) A Participant shall not be entitled to receive any greater payment under Section 3.01,   3.04 or 3.05 than the applicable Lender would have been entitled to receive with respect to the participa   tion sold to such Participant, except to the extent such entitlement to a greater payment results from a   change in any Law after the sale of the participation takes place.   (g) Any Lender may, without the consent of the Borrower or the Administrative Agent, at   any time pledge or assign a security interest in all or any portion of its rights under this Agreement (in   cluding under its Term Note, if any) to secure obligations of such Lender, including any pledge or as   signment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assigmnent   shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee   for such Lender as a party hereto.   (h) Notwithstanding anything to the contrary contained herein, any Lender (a “Granting   Lender”) may grant to a special purpose finding vehicle identified as such in writing from time to time   -150-    

 

by the Granting Lender to the Administrative Agent and the Borrower (an “SPC”) the option to provide   all or any part of any Loan that such Granting Lender would otherwise be obligated to make pursuant to   this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to fund any   Loan, (ii) if an SPC elects not to exercise such option or otherwise fails to make all or any part of such   Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof and (iii)   such SPC and the applicable Loan or any applicable part thereof, shall be appropriately reflected in the   Participant Register. Each party hereto hereby agrees that (i) an SPC shall be entitled to the benefit of   Sections 3.01, 3.04 and 3.05 (subject to the requirements and the limitations of such sections), but neither   the grant to any SPC nor the exercise by any SPC of such option shall increase the costs or expenses or   otherwise increase or change the obligations of the Borrower under this Agreement except to the extent   that the increase or change results from a change in any Law after the grant to such SPC takes place, (ii)   no SPC shall be liable for any indemnity or similar payment obligation under this Agreement for which a   Lender would be liable, and (iii) the Granting Lender shall for all purposes, including the approval of any   amendment, waiver or other modification of any provision of any Loan Document, remain the lender of   record hereunder. The making of a Loan by an SPC hereunder shall utilize the Commitment of the Grant   ing Lender to the same extent, and as if, such Loan were made by such Granting Lender. Notwithstand   ing anything to the contrary contained herein, any SPC may (i) with notice to, but without prior consent   of the Borrower and the Administrative Agent and with the payment of a processing fee of $3,500, assign   all or any portion of its right to receive payment with respect to any Loan to the Granting Lender and (H)   disclose on a confidential basis any non-public information relating to its funding of Loans to any rating   agency, commercial paper dealer or provider of any surety or Guarantee or credit or liquidity enhance   ment to such SPC.   (i) Notwithstanding anything to the contrary contained herein, without the consent of the   Borrower or the Administrative Agent, (1) any Lender may in accordance with applicable Law create a   security interest in all or any portion of the Loans owing to it and the Term Note, if any, held by it and (2)   any Lender that is a Fund may create a security interest in all or any portion of the Loans owing to it and   the Term Note, if any, held by it to the trustee for holders of obligations owed, or securities issued, by   such Fund as security for such obligations or securities; provided that unless and until such trustee actual   ly becomes a Lender in compliance with the other provisions of this Section 10.07, (i) no such pledge   shall release the pledging Lender from any of its obligations under the Loan Documents and (H) such trus   tee shall not be entitled to exercise any of the rights of a Lender under the Loan Documents even though   such trustee may have acquired ownership rights with respect to the pledged interest through foreclosure   or otherwise.   (j) [Reserved].   (k) [Reserved].   (1) Any Lender may, so long as no Default or Event of Default has occurred and is continu   ing, at anytime, assign all or a portion of its rights and obligations with respect to Term Loans under this   Agreement to Holdings or the Borrower through (x) Dutch auctions open to all Lenders on a pro rata basis   in accordance with procedures of the type described in Section 2.05(a)(v) or (y) notwithstanding Sections   2.12 and 2.13 or any other provision in this Agreement, open market purchases on a non-pro rata basis;   provided, that, in connection with assignments pursuant to clause (y) above:   (i) if Holdings is the assignee, upon such assigmnent, transfer or contribution, Hold   ings shall automatically be deemed to have contributed the principal amount of such Term Loans,   plus all accrued and unpaid interest thereon, to the Borrower; or   -151-    

 

(ii) if the assignee is the Borrower (including through contribution or transfers set   forth in clause (i) above), (a) the principal amount of such Term Loans, along with all accrued   and unpaid interest thereon, so contributed, assigned or transferred to the Borrower shall be   deemed automatically cancelled and extinguished on the date of such contribution, assignment or   transfer, (b) the aggregate outstanding principal amount of Term Loans of the remaining Lenders   shall reflect such cancellation and extinguishing of the Term Loans then held by the Borrower   and (c) the Borrower shall promptly provide notice to the Administrative Agent of such contribu   tion, assignment or transfer of such Term Loans, and the Administrative Agent, upon receipt of   such notice, shall reflect the cancellation of the applicable Term Loans in the Register.   Section 10.08 Confidentiality.   Each of the Agents and the Lenders agrees to maintain the confidentiality of the Information, ex   cept that Information may be disclosed (a) to its Affiliates and its and its Affiliates’ managers, administra   tors, directors, officers, employees, trustees, partners, investors, investment advisors and agents, including   accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclo   sure is made will be informed of the confidential nature of such Information and instructed to keep such   Information confidential); (b) to the extent requested by any Governmental Authority or self regulatory   authority having or asserting jurisdiction over such Person (including any Governmental Authority regu   lating any Lender or its Affiliates), provided that the Administrative Agent or such Lender, as applicable,   agrees that it will noti& the Borrower as soon as practicable in the event of any such disclosure by such   Person (other than at the request of a regulatory authority) unless such notification is prohibited by law,   rule or regulation; (c) to the extent required by applicable Laws or regulations or by any subpoena or   similar legal process, provided that the Administrative Agent or such Lender, as applicable, agrees that it   will notilS’ the Borrower as soon as practicable in the event of any such disclosure by such Person (other   than at the request of a regulatory authority) unless such notification is prohibited by law, rule or regula   tion; (d) to any other party to this Agreement; (e) subject to an agreement containing provisions at least as   restrictive as those of this Section 10.08 (or as may otherwise be reasonably acceptable to the Borrower),   to any pledgee referred to in Section 10.07(g), direct or indirect contractual counterparty to a Swap Con   tract, Eligible Assignee of or Participant in, or any prospective Eligible Assignee of or Participant in any   of its rights or obligations under this Agreement; (0 with the written consent of the Borrower; (g) to the   extent such Information becomes publicly available other than as a result of a breach of this Section 10.08   or becomes available to the Administrative Agent, any Arranger, any Lender or any of their respective   Affiliates on a nonconfidential basis from a source other than a Loan Party or its related parties (so long   as such source is not known to the Administrative Agent, such Arranger, such Lender or any of their re   spective Affiliates to be bound by confidentiality obligations to any Loan Party); (h) to any rating agency   when required by it (it being understood that, prior to any such disclosure, such rating agency shall under   take to preserve the confidentiality of any Information relating to Loan Parties and their Subsidiaries re   ceived by it from such Lender); or (i) in connection with the exercise of any remedies hereunder, under   any other Loan Document or the enforcement of its rights hereunder or thereunder. For the purposes of   this Section 10.08, “Information” means all information received from the Loan Parties relating to any   Loan Party, its Affiliates or its Affiliates’ directors, officers, employees, trustees, investment advisors or   agents, relating to Holdings, the Borrower or any of its Subsidiaries or its business, other than any such   information that is publicly available to any Agent or any Lender prior to disclosure by any Loan Party   other than as a result of a breach of this Section 10.08;provided that all information received after the   Closing Date from Holdings, the Borrower or any of its Subsidiaries shall be deemed confidential unless   such information is clearly identified at the time of delivery as not being confidential.   -152-    

 

Section 10.09 Setoff.   In addition to any rights and remedies of the Lenders provided by Law, upon the occurrence and   during the continuance of any Event of Default, each Lender and its Affiliates (and the Administrative   Agent, in respect of any unpaid fees, costs and expenses payable hereunder) is authorized at any time and   from time to time, without prior notice to the Borrower, any such notice being waived by the Borrower   (on its own behalf and on behalf of each Loan Party and each of its Subsidiaries) to the fullest extent per-   milled by applicable Law, to set off and apply any and all deposits (general or special, time or demand,   provisional or final) at any time held by, and other Indebtedness at any time owing by, such Lender and   its Affiliates or the Administrative Agent to or for the credit or the account of the respective Loan Parties   and their Subsidiaries against any and all Obligations owing to such Lender and its Affiliates or the Ad   ministrative Agent hereunder or under any other Loan Document, now or hereafter existing, irrespective   of whether or not such Agent or such Lender or Affiliate shall have made demand under this Agreement   or any other Loan Document and although such Obligations may be contingent or unmatured or denomi   nated in a currency different from that of the applicable deposit or Indebtedness. Each Lender agrees   promptly to notify the Borrower and the Administrative Agent after any such set off and application made   by such Lender; provided that the failure to give such notice shall not affect the validity of such setoff and   application. The rights of the Administrative Agent and each Lender under this Section 10.09 are in addi   tion to other rights and remedies (including other rights of setoff) that the Administrative Agent and such   Lender may have at Law.   Section 10.10 Interest Rate Limitation.   Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or   agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest   permitted by applicable Law (the “Maximum Rate”). If any Agent or any Lender shall receive interest   in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the   Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the inter   est contracted for, charged, or received by an Agent or a Lender exceeds the Maximum Rate, such Person   may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an   expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereot   and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest   throughout the contemplated term of the Obligations hereunder.   Section 10.11 Counterparts.   This Agreement and each other Loan Document may be executed in one or more counterparts,   each of which shall be deemed an original, but all of which together shall constitute one and the same in   strument. Delivery by telecopier of an executed counterpart of a signature page to this Agreement and   each other Loan Document shall be effective as delivery of an original executed counterpart of this   Agreement and such other Loan Document. The Agents may also require that any such documents and   signatures delivered by telecopier be confirmed by a manually signed original thereof; provided that the   failure to request or deliver the same shall not limit the effectiveness of any document or signature deliv   ered by telecopier.   Section 10.12 Integrationz Termination.   This Agreement, together with the other Loan Documents, comprises the complete and integrated   agreement of the parties on the subject matter hereof and thereof and supersedes all prior agreements,   written or oral, on such subject matter. In the event of any conflict between the provisions of this Agree   -153-    

 

ment and those of any other Loan Document, the provisions of this Agreement shall control; provided that   the inclusion of supplemental rights or remedies in favor of the Agents or the Lenders in any other Loan   Document shall not be deemed a conflict with this Agreement. Each Loan Document was drafted with   the joint participation of the respective parties thereto and shall be construed neither against nor in favor   of any party, but rather in accordance with the fair meaning thereof.   Section 10.13 Survival of Representations and Warranties. All representations and warranties   made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto   or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such   representations and warranties have been or will be relied upon by the Administrative Agent and each   Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their be   half and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge   of any Default at the time of any Credit Extension, and shall continue in Ml force and effect as long as   any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit   shall remain outstanding.   Section 10.14 Severability.   If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or   unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement   and the other Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor   in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions   the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable   provisions; provided, that, the Lenders shall charge no fee in connection with any such amendment. The   invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such pro   vision in any other jurisdiction.   Section 10.15 GOVERNING LAW.   (a) THIS AGREEMENT AND EACH OTHER LOAN DOCUMENT SHALL BE GOV   ERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW   YORK.   (b) ANY LEGAL ACTION OR PROCEEDING ARISING UNDER ANY LOAN DOCU   MENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEAL   INGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCU   MENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EX   ISTING OR HEREAFTER ARISING, SHALL BE BROUGHT IN THE COURTS OF THE STATE OF   NEW YORK SITTING IN NEW YORK COUNTY (BOROUGH OF MANHATTAN) OR OF THE   UNITED STATES FOR THE SOUTHERN DISTRICT OF SUCH STATE, AND BY EXECUTION   AND DELIVERY OF THIS AGREEMENT, EACH LOAN PARTY, EACH AGENT AND EACH   LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE EXCLUSIVE   JURISDICTION OF THOSE COURTS AND AGREES THAT IT WILL NOT COMMENCE OR SUP   PORT ANY SUCH ACTION OR PROCEEDING IN ANOTHER JURISDICTION. EACH LOAN   PARTY, EACH AGENT AND EACH LENDER IRREVOCABLY WAIVES ANY OBJECTION, IN   CLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF   FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING   OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN   DOCUMENT OR OTHER DOCUMENT RELATED THERETO. EACH PARTY HERETO IRREVO   CABLY CONSENTS TO SERVICE OF PROCESS IN ANY ACTION OR PROCEEDING ARISING   -154-    

 

OUT OF OR RELATING TO ANY LOAN DOCUMENTS IN THE MANNER PROVIDED FOR NO   TICES (OTHER THAN TELECOPIER) IN SECTION 10.02. NOTHING IN THIS AGREEMENT OR   ANY OTHER LOAN DOCUMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO   SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.   Section 10.16 WAIVER OF RIGHT TO TRIAL BY JURY.   EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT   PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN   ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO   THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEM   PLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER   THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR   ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE,   THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO EN   FORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER   PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE   OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND   CERTIFICATIONS IN THIS SECTION.   Section 10.17 Binding Effect.   This Agreement shall become effective when it shall have been executed by the Loan Parties and   the Administrative Agent shall have been notified by each Lender that each such Lender has executed it   and thereafter shall be binding upon and inure to the benefit of the Loan Parties, each Agent and each   Lender and their respective successors and assigns, in each case in accordance with Section 10.07 (if ap   plicable) and except that no Loan Party shall have the right to assign its rights hereunder or any interest   herein without the prior written consent of the Lenders except as permitted by Section 7.04.   Section 10.18 USA Patriot Act.   Each Lender that is subject to the USA Patriot Act and the Administrative Agent (for itself and   not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA   Patriot Act, it is required to obtain, verify and record information that identifies each Loan Party, which   information includes the name, address and tax identification number of such Loan Party and other infor   mation regarding such Loan Party that will allow such Lender or the Administrative Agent, as applicable,   to identify such Loan Party in accordance with the USA Patriot Act. This notice is given in accordance   with the requirements of the USA Patriot Act and is effective as to the Lenders and the Administrative   Agent.   Section 10.19 No Advisory or Fiduciary Responsibility.   In connection with all aspects of each transaction contemplated hereby (including in connection   with any amendment, waiver or other modification hereof or of any other Loan Document), each Loan   Party acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (i) (A) the arrang   ing and other services regarding this Agreement provided by the Administrative Agent and the other Ar   rangers are arm’s-length commercial transactions between the Loan Parties and their respective Affiliates,   on the one hand, and the Administrative Agent, the other Arrangers and the Lenders, on the other hand,   (B) each Loan Party has consulted its own legal, accounting, regulatory and tax advisors to the extent it   has deemed appropriate, and (C) each Loan Party is capable of evaluating, and understands and accepts,   -155-    

 

the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents;   (ii) (A) the Administrative Agent, each other Arranger and each Lenders each is and has been acting sole   ly as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not,   and will not be acting as an advisor, agent or fiduciary for each Loan Party or any of theft respective Af   filiates, or any other Person and (B) neither the Administrative Agent, any other Arranger nor any Lender   has any obligation to the Loan Parties or any of their respective Affiliates with respect to the transactions   contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents;   and (iii) the Administrative Agent, the other Arrangers, the Lenders and their respective Affiliates may be   engaged in a broad range of transactions that involve interests that differ from those of the Loan Parties   and their respective Affiliates, and neither the Administrative Agent nor any other Arranger nor any   Lender has any obligation to disclose any of such interests to the Loan Parties or any of their respective   Affiliates. To the fullest extent permitted by law, each Loan Party hereby waives and releases any claims   that it may have against the Administrative Agent, the other Arrangers and the Lenders with respect to   any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction   contemplated hereby.   Section 10.20 ABL Intercreditor Agreement.   The Administrative Agent is authorized to enter into the ABL Intercreditor Agreement, and each   of the parties hereto acknowledges that it has received a copy of the ABL Intercreditor Agreement and   that the ABL Intercreditor Agreement is binding upon it. Each Lender (a) hereby consents to the subordi   nation of the Liens on the ABL Priority Collateral securing the Obligations on the terms set forth in the   ABL Intercreditor Agreement, (b) hereby agrees that it will be bound by and will take no actions contrary   to the provisions of the ABL Intercreditor Agreement and (c) hereby authorizes and instructs the Admin   istrative Agent to enter into the ABL Intercreditor Agreement and any amendments or supplements ex   pressly contemplated thereby, including the Replacement Intercreditor Agreement, and to subject the   Liens on the ABL Priority Collateral securing the Obligations to the provisions of the ABL Intercreditor   Agreement. The foregoing provisions are intended as an inducement to the ABL Claimholders to extend   credit to the borrowers under the ABL Credit Agreement and such ABL Claimholders are intended third-   party beneficiaries of such provisions and the provisions of the ABL Intercreditor Agreement. The provi   sions of this Section 10.20 are for the sole benefit of the Lenders and the Administrative Agent and shall   not afford any right to, or constitute a defense available to, any Loan Party. In the event of any conflict   between the terms of this Agreement and the terms of the ABL Intercreditor Agreement, the terms of the   ABL Intercreditor Agreement shall control.   ARTICLE XI.   GUARANTEE   Section 11.01 The Guarantee.   Each Guarantor hereby jointly and severally with the other Guarantors guarantees, as a primary   obligor and not as a surety to each Secured Party and their respective successors and assigns, the prompt   payment in full when due (whether at stated maturity, by required prepayment, declaration, demand, by   acceleration or otherwise) of the principal of and interest (including any interest, fees, costs or charges   that would accrue but for the provisions of (i) the Title 11 of the United States Code afler any bankruptcy   or insolvency petition under Title 11 of the United States Code and (ii) any other Debtor Relief Laws) on   the Loans made by the Lenders to, and the Term Notes held by each Lender of, the Borrower (other than   such Guarantor), and all other Obligations from time to time owing to the Secured Parties by any Loan   Party under any Loan Document or any Term Loan Secured Hedge Agreement, in each case strictly in   -156-    

 

accordance with the terms thereof (such obligations being herein collectively called the “Guaranteed   Obligation” ‘ rovided that notwithstandin the fore oin with re ct to an Guarantor Guaran   teed Obligations shall not include Excluded Swap Obligations of such Guarantor. The Guarantors hereby   jointly and severally agree that if the Borrower or other Guarantor(s) shall fail to pay in lull when due   (whether at stated maturity, by acceleration or otherwise) any of the Guaranteed Obligations, the Guaran   tors will promptly pay the same in cash, without any demand or notice whatsoever, and that in the case of   any extension of time of payment or renewal of any of the Guaranteed Obligations, the same will be   promptly paid in full when due (whether at extended maturity, by acceleration or otherwise) in accord   ance with the terms of such extension or renewal.   Section 11.02 Obligations Unconditional.   The obligations of the Guarantors under Section 11.01 shall constitute a guaranty of payment and   to the fullest extent pennitted by applicable Law, are absolute, irrevocable and unconditional, joint and   several, irrespective of the value, genuineness, validity, regularity or enforceability of the Guaranteed Ob   ligations of the Borrower under this Agreement, the Term Notes, if any, or any other agreement or in   strument referred to herein or therein, or any substitution, release or exchange of any other guarantee of or   security for any of the Guaranteed Obligations, and, irrespective of any other circumstance whatsoever   that might otherwise constitute a legal or equitable discharge or defense of a surety or Guarantor (except   for payment in full). Without limiting the generality of the foregoing, it is agreed that the occurrence of   any one or more of the following shall not alter or impair the liability of the Guarantors hereunder which   shall remain absolute, irrevocable and unconditional under any and all circumstances as described above:   (i) at any time or from time to time, without notice to the Guarantors, to the extent   permitted by Law, the time for any perfonnance of or compliance with any of the Guaranteed Ob   ligations shall be extended, or such performance or compliance shall be waived;   (ii) any of the acts mentioned in any of the provisions of this Agreement or the Term   Notes, if any, or any other agreement or instrument referred to herein or therein shall be done or   omitted;   (iii) the maturity of any of the Guaranteed Obligations shall be accelerated, or any of   the Guaranteed Obligations shall be amended in any respect, or any right under the Loan Docu   ments or any other agreement or instrument referred to herein or therein shall be amended or   waived in any respect or any other guarantee of any of the Guaranteed Obligations or except as   permitted pursuant to Section 11.09, any security therefor shall be released or exchanged in whole   or in part or otherwise dealt with;   (iv) any Lien or security interest granted to, or in favor of, any Secured Party or   Agent as security for any of the Guaranteed Obligations shall fail to be perfected; or   (v) the release of any other Guarantor pursuant to Section 11.09.   The Guarantors hereby expressly waive diligence, presentment, demand of payment, invalidity or   enforceability of Guaranteed Obligations, amendments or waivers of any Guaranteed Obligations, non-   perfection of any Collateral and any other circumstance that might constitute a defense of the Borrower or   the Guarantors, protest and, to the extent permitted by Law, all notices whatsoever, and any requirement   that any Secured Party exhaust any right, power or remedy or proceed against the Borrower under this   Agreement or the Term Notes, if any, or any other agreement or instrument referred to herein or therein,   or against any other Person under any other guarantee of, or security for, any of the Guaranteed Obliga   -157-    

 

tions. The Guarantors waive, to the extent permitted by Law, any and all notice of the creation, renewal,   extension, waiver, termination or accrual of any of the Guaranteed Obligations and notice of or proof of   reliance by any Secured Party upon this Guarantee or acceptance of this Guarantee, and the Guaranteed   Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred   in reliance upon this Guarantee, and all dealings between the Borrower and the Secured Parties shall   likewise be conclusively presumed to have been had or consummated in reliance upon this Guarantee.   This Guarantee shall be construed as a continuing, absolute, irrevocable and unconditional guarantee of   payment without regard to any right of offset with respect to the Guaranteed Obligations at any time or   from time to time held by Secured Parties, and the obligations and liabilities of the Guarantors hereunder   shall not be conditioned or contingent upon the pursuit by the Secured Parties or any other Person at any   time of any right or remedy against the Borrower or against any other person which may be or become   liable in respect of all or any part of the Guaranteed Obligations or against any collateral security or guar   antee therefor or right of offset with respect thereto. This Guarantee shall remain in full force and effect   and be binding in accordance with and to the extent of its terms upon the Guarantors and the successors   and assigns thereof, and shall inure to the benefit of the Secured Parties, and their respective successors   and assigns, notwithstanding that from time to time during the term of this Agreement there may be no   Guaranteed Obligations outstanding.   Section 11.03 Reinstatement.   The obligations of the Guarantors under this Article XI shall be automatically reinstated if and to   the extent that for any reason any payment by or on behalf of the Borrower or other Loan Party in respect   of the Guaranteed Obligations is rescinded or must be otherwise restored by any holder of any of the   Guaranteed Obligations, whether as a result of any proceedings in bankruptcy or reorganization or other   wise.   Section 11.04 Subrogation; Subordination.   Each Guarantor hereby agrees that until the payment and satisfaction in full in cash of all Guaran   teed Obligations and the expiration and termination of the Commitments of the Lenders under this   Agreement it shall waive any claim and shall not exercise any right or remedy, direct or indirect, arising   by reason of any performance by it of its guarantee in Section 11.01, whether by subrogation or other   wise, against the Borrower or any other Guarantor of any of the Guaranteed Obligations or any security   for any of the Guaranteed Obligations. Any Indebtedness of any Loan Party to any Person that is not a   Loan Party permitted pursuant to Section 7.03(b)(ii) or 7.03(d) shall be subordinated to such Loan Party’s   Obligations in the manner set forth in the Intercompany Note evidencing such Indebtedness.   Section 11.05 Remedies.   The Guarantors jointly and severally agree that, as between the Guarantors and the Lenders, the   obligations of the Borrower under this Agreement and the Term Notes, if any, may be declared to be   forthwith due and payable as provided in Section 8.02 (and shall be deemed to have become automatical   ly due and payable in the circumstances provided in Section 8.02) for purposes of Section 11.01, notwith   standing any stay, injunction or other prohibition preventing such declaration (or such obligations from   becoming automatically due and payable) as against the Borrower and that, in the event of such declara   tion (or such obligations being deemed to have become automatically due and payable), such obligations   (whether or not due and payable by the Borrower) shall forthwith become due and payable by the Guaran   tors for purposes of Section 11.01.   -158-    

 

Section 11.06 Instrument for the Payment of Money.   Each Guarantor hereby acknowledges that the guarantee in this Article XI constitutes an instru   ment for the payment of money, and consents and agrees that any Secured Party or Agent, at its sole op   tion, in the event of a dispute by such Guarantor in the payment of any moneys due hereunder, shall have   the right to bring a motion-action under New York CPLR Section 3213.   Section 11.07 Continuing Guarantee.   The guarantee in this Article XI is a continuing guarantee of payment, and shall apply to all   Guaranteed Obligations whenever arising.   Section 11.08 General Limitation on Guarantee Obligations.   In any action or proceeding involving any state corporate, limited partnership or limited liability   company law, or any applicable state, federal or foreign bankruptcy, insolvency, reorganization or other   Law affecting the rights of creditors generally, if the obligations of any Subsidiary Guarantor under Sec   tion 11.01 would otherwise be held or determined to be void, voidable, invalid or unenforceable, or sub   ordinated to the claims of any other creditors, on account of the amount of its liability under Sec   tion 11.01, then, notwithstanding any other provision to the contrary, the amount of such liability shall,   without any further action by such Subsidiary Guarantor, any Loan Party or any other person, be automat   ically limited and reduced to the highest amount (after giving effect to the right of contribution estab   lished in Section 11.10) that is valid and enforceable and not subordinated to the claims of other creditors   as determined in such action or proceeding.   Section 11.09 Release of Guarantors.   If, in compliance with the terms and provisions of the Loan Documents, (i) all or substantially all   of the Equity Interests or property of any Subsidiary Guarantor are sold or otherwise transferred to a Per   son or Persons none of which is a Loan Party or (ii) any Subsidiary Guarantor becomes an Excluded Sub   sidiary (any such Subsidiary Guarantor, and any Subsidiary Guarantor referred to in clause (i), a “Trans   ferred Guarantor”), such Transferred Guarantor shall, upon the consunimation of such sale or transfer or   other transaction, be automatically released from its obligations under this Agreement (including under   Section 10.05 hereof) and its obligations to pledge and grant any Collateral owned by it pursuant to any   Collateral Document and, in the case of a sale of all or substantially all of the Equity Interests of the   Transferred Guarantor, the pledge of such Equity Interests to the Administrative Agent pursuant to the   Collateral Documents shall be automatically released, and, so long as the Borrower shall have provided   the Agents such certifications or documents as any Agent shall reasonably request, the Administrative   Agent shall take such actions as are necessary to effect each release described in this Section 11.09 in ac   cordance with the relevant provisions of the Collateral Documents; provided, that no Guarantor shall be   released as provided in this paragraph if such Guarantor continues to be a guarantor in respect of the Sen   ior Notes, any Indebtedness incurred pursuant to Section 7.03(r), the Existing Notes, any Permitted First   Priority Refinancing Debt, any Permitted Junior Priority Refinancing Debt, any Permitted Unsecured Re   financing Debt, any Junior Financing or any Permitted Refinancing of any of the foregoing.   When all Commitments hereunder have terminated (other than (A) contingent indemnification   obligations and (B) obligations and liabilities under Term Loan Secured Hedge Agreements as to which   arrangements satisfactory to the applicable Hedge Bank shall have been made), and all Loans or other   Obligation hereunder which are accrued and payable have been paid or satisfied, this Agreement and the   -159-    

 

Guarantees made herein shall terminate with respect to all Obligations, except with respect to Obligations   that expressly survive such repayment pursuant to the terms of this Agreement.   Section 11.10 Right of Contribution.   Each Guarantor hereby agrees that to the extent that a Subsidiary Guarantor shall have paid more   than its proportionate share of any payment made hereunder, such Subsidiary Guarantor shall be entitled   to seek and receive contribution from and against any other Guarantor hereunder which has not paid its   proportionate share of such payment. Each Subsidiary Guarantor’s right of contribution shall be subject   to the terms and conditions of Section 11.04. The provisions of this Section 11.10 shall in no respect lim   it the obligations and liabilities of any Subsidiary Guarantor to the Administrative Agent and the Secured   Parties, and each Subsidiary Guarantor shall remain liable to the Administrative Agent and the Secured   Parties for the full amount guaranteed by such Subsidiary Guarantor hereunder.   -160-    

 

BLACKSMITH BRANDS INC.   MEDTECH HOLDINCS INC   MEDTECU PRODUCTS INC   PRESTIGE BRANDS HOLDINGS, INC.   PRESTIGE BRANDS INTERNATIONAL, INC.   PRESTIGE PERSONAL CARE HOLDINGS, INC.   PRESTIGE PERSONAL CARE, INC.   PRESTIGE SERVICES CORP   THE CUTEX COMPANY   THE DENOIIEX COMPANY   THE SPIC AND SPAN COMPANY   as Subsidiary Cuamntors    

 

    

 

MORCAN STANLEY SENIOR FUNDINC, INC as   p Lender   [Signature Page to Credit Agccmcnt]    

 

ROYAL B~iK OF C~A, aa a Lender   By: ___________   Name:   Section 11.11 Keepwell.   Each Guarantor that is a Oualified ECP Guarantor at the time the Guarantee or the grant of the   securit interest under the Loan Documents in each case b an S • ecified Loan P becomes effective   with respect to any Swap Obligation, hereby iointlv and severally. absolutely, unconditionally and irrevo   cabl undertakes to • rovide such funds or other sue . oil to each S • ecified Loan P with re t to such   Swap Ob igation as may be needed by such Specified Loan Party from time to time to honor all of its   Guaranteed Obligations under this Aareement and the other Loan Documents in respect of such Swap   Obli’ation .ut in each case oni u. to the maximum amount of such liabilit that can be hereb in   cuned without rendermg such Qualified ECP Guarantor’s obligations and undertakings under this Section   11.11 voidable under a. licable law relatin• to fraudulent conve ance or fraudulent transfer and not for   any greater amount). The obligations and undertakings of each Qualified ECP Guarantor under this Sec   tion shall remain in full force and effect until the .a ent in full of the Obli•ations. Each ualified ECP   Guarantor intends this Section 11 .11 to constitute and this Section Il .11 shall be deemed to constitute a   “keepwell. support, or other agreement” for the benefit of. each Specified Loan Party for all purposes of   the Commodit Exchan~e Act.   Section 11.12 Excluded Swa • Obli ations Limitation.   Notwithstandin an hin in this Article XI to the cont no Guarantor shall be re uired to   make an a ent ursuant to this Guarantee to an and the n ht of set-off rovided in Section   10.09 shall not apply with respect to any Guarantor, in each case, with respect to Excluded Swap Obliga   tions if an of such Guarantor.   [Signature Page to Credit Agreement] -    

 

EXHIBIT B   JOINDER AGREEMENT   JOINDER AGREEMENT, dated as of September 3, 2014 (this “Agreement”), by and   among CITIBANK, N.A. (the “Term B-2 Lender”), PRESTIGE BRANDS, INC. (the “Borrower”), and   CITIBANK, N.A. (the “Administrative Agent”).   RECITALS:   WHEREAS, reference is hereby made to the Credit Agreement, dated as of January 31, 2012 (as   amended by Amendment No. 1, dated as of February 21, 2013, and as ifirther amended, supplemented,   amended and restated or otherwise modified in writing from time to time) (the “Credit Agreement”),   among PRESTIGE BRANDS HOLDINGS, INC., a Delaware corporation (“Holdings”), PRESTIGE   BRANDS, INC., a Delaware corporation (the “Borrower”), the other Guarantors from time to time party   thereto, each lender from time to time party thereto and CITIBANK, NA., as Administrative Agent and   the other Agents named therein (capitalized terms used but not defined herein having the meaning provid   ed in the Credit Agreement (as amended by Amendment No. 2));   WHEREAS, subject to the terms and conditions of the Credit Agreement, the Borrower may es   tablish Incremental Commitments (the “Term B-2 Commitments”) with existing Lenders and/or Addi   tional Lenders; and   WHEREAS, subject to the terms and conditions of the Credit Agreement, the Term B-2 Lender   shall become a Lender pursuant to a Joinder Agreement;   NOW, THEREFORE, in consideration of the premises and agreements, provisions and covenants   herein contained, the parties hereto agree as follows:   The Term B-2 Lender hereby agrees to provide the Term B-2 Commitment set forth on its signa   ture page hereto pursuant to and in accordance with Section 2.14 of the Credit Agreement. The Term B-2   Commitments provided pursuant to this Agreement shall be subject to all of the terms in the Credit   Agreement and to the conditions set forth in Section 2.14 of the Credit Agreement, and shall be entitled to   all the benefits afforded by the Credit Agreement and the other Loan Documents, and shall, without limit   ing the foregoing, benefit equally and ratably from the Guarantees and security interests created by the   Collateral Documents.   The Term B-2 Lender, the Borrower and the Administrative Agent acknowledge and agree that   the Term B-2 Commitments provided pursuant to this Agreement shall constitute Incremental Commit   ments for all purposes of the Credit Agreement and the other applicable Loan Documents. The Term B-2   Lender hereby agrees to make the Term B-2 Loan to the Borrower in an amount equal to its Term B-2   Commitment on the Amendment No. 2 Effective Date in accordance with Section 2.01(c) of the Credit   Agreement.   The Term B-2 Lender (i) confirms that it has received a copy of the Credit Agreement and the   other Loan Documents (including Amendment No. 2), together with copies of the financial statements   referred to therein and such other documents and information as it has deemed appropriate to make its   own credit analysis and decision to enter into this Agreement; (ii) agrees that it will, independently and    

 

without reliance upon the Administrative Agent or any other Lender or Agent and based on such docu   ments and information as it shall deem appropriate at the time, continue to make its own credit decisions   in taking or not taking action under the Credit Agreement; (iii) appoints and authorizes the Administrative   Agent to take such action as agent on its behalf and to exercise such powers and discretion under the   Credit Agreement and the other Loan Documents as are delegated to the Administrative Agent by the   terms thereof, together with such powers and discretion as are reasonably incidental thereto; and (iv)   agrees that it will perform in accordance with their terms all of the obligations which by the tenns of the   Credit Agreement are required to be performed by it as a Lender.   Upon (i) the execution of a counterpart of this Agreement by the Term B-2 Lender, the Adminis   trative Agent and the Borrower and (ii) the delivery to the Administrative Agent of a fully executed coun   terpart (including by way of telecopy or other electronic transmission) hereof the Term B-2 Lender shall   become a Lender under the Credit Agreement and shall have the respective Term B-2 Commitment set   forth on its signature page hereto, effective as of the Amendment No. 2 Effective Date.   This Agreement may not be amended, modified or waived except by an instrument or instruments   in writing signed and delivered on behalf of each of the parties hereto.   This Agreement, the Credit Agreement and the other Loan Documents constitute the entire   agreement among the parties with respect to the subject matter hereof and thereof and supersede all other   prior agreements and understandings, both written and verbal, among the parties or any of them with re   spect to the subject matter hereof.   THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES   HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,   TilE LAWS OF THE STATE OF NEW YORK.   Any term or provision of this Agreement which is invalid or unenforceable in any jurisdiction   shall, as to that jurisdiction, be ineffective to the extent of such invalidity or unenforceability without ren   dering invalid or unenforceable the remaining terms and provisions of this Agreement or affecting the   validity or enforceability of any of the terms or provisions of this Agreement in any other jurisdiction. If   any provision of this Agreement is so broad as to be unenforceable, the provision shall be interpreted to   be only so broad as would be enforceable.   This Agreement may be executed in counterparts, each of which shall be deemed to be an origi   nal, but all of which shall constitute one and the same agreement.   B-2    

 

CITIBANK, N.A.,   as Term B-2 Lender   By: _____________   Name:   Title:   Term B-2 Commitments:   $720,000,000   B-3    

 

PRESTIGE BRAM)S, INC.   By:   Name:   Title:   B-4    

 

Accepted:   CITIBANK, N.A.,   as Administrative Agent   By:   Name:   Title:   B-5Exhibit 10.1

 

Execution Version

 

FOURTH AMENDMENT TO AMENDED AND RESTATED

SENIOR SECURED CREDIT AGREEMENT

 

This FOURTH AMENDMENT TO AMENDED AND RESTATED SENIOR SECURED CREDIT AGREEMENT (this “Fourth Amendment”), dated as of February 4, 2015, is among EXLP OPERATING LLC, a limited liability company formed under the laws of the state of Delaware (the “Borrower”), EXTERRAN PARTNERS, L.P., a limited partnership formed under the laws of the state of Delaware (“EXLP”), the Lenders listed on the signature pages attached hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”).

 

R E C I T A L S

 

The Borrower, EXLP, the Administrative Agent and the Lenders are parties to that certain Amended and Restated Senior Secured Credit Agreement dated as of November 3, 2010 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”), pursuant to which the Lenders have made certain extensions of credit available to and on behalf of the Borrower;

 

The Borrower desires to increase the Aggregate Revolving Commitments from $650,000,000 to $900,000,000;

 

The Borrower has requested that each of Citibank, N.A., Santander Bank, N.A. and OneWest Bank N.A. (each a “New Lender”) become, and each New Lender is willing to become, a Lender under the Credit Agreement (as amended hereby) with a Revolving Commitment in the amount set forth opposite such New Lender’s name as shown on Annex I to the Credit Agreement (as amended hereby); and

 

The Borrower has requested that the Lenders amend, and the Lenders party hereto have agreed to amend, certain terms and provisions of the Credit Agreement as more fully provided herein.

 

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

 

Section 1.                                           Defined Terms.  Each capitalized term used herein but not otherwise defined herein has the meaning given such term in the Credit Agreement.  Unless otherwise indicated, all references to Sections, Articles, Annexes and Schedules in this Fourth Amendment refer to Sections, Articles, Annexes and Schedules of the Credit Agreement.

 

Section 2.                                           Commitment Increase.

 

2.1                               Increase in Aggregate Revolving Commitments.  The Borrower desires to increase the Aggregate Revolving Commitments by $250,000,000 (the “Aggregate Revolving Commitment Increase”) as of the Fourth Amendment Effective Date (as defined below) upon

 

 

effectiveness of this Fourth Amendment so that, after giving effect to such increase, the Aggregate Revolving Commitments shall equal $900,000,000.  On and as of the Fourth Amendment Effective Date, each Increase Lender agrees that the Revolving Commitment of such Increase Lender shall equal the amount set forth opposite its name on Exhibit A.  The parties hereto hereby acknowledge the Aggregate Revolving Commitment Increase has occurred and is effective as of the Fourth Amendment Effective Date.  As of the Fourth Amendment Effective Date, the Aggregate Revolving Commitments shall be $900,000,000.  As used herein, “Increase Lender” means each Lender (including the New Lenders) whose Revolving Commitment after giving effect to this Fourth Amendment exceeds such Lender’s Revolving Commitment that was in effect immediately prior to giving effect to this Fourth Amendment.

 

2.2                               Adjustments.  After giving effect to this Fourth Amendment and any Borrowings made on the Fourth Amendment Effective Date, (a) each Lender that holds Revolving Loans in an aggregate amount less than its Applicable Percentage (after giving effect to this Fourth Amendment) of all Revolving Loans shall advance new Revolving Loans which shall be disbursed to the Administrative Agent and used to repay Revolving Loans outstanding to each Lender that holds Revolving Loans in an aggregate amount greater than its Applicable Percentage (after giving effect to this Fourth Amendment) of all Revolving Loans, (b) each Lender’s participation in each Letter of Credit, if any, shall be automatically adjusted to equal its Applicable Percentage (after giving effect to this Fourth Amendment), (c) such other adjustments shall be made as the Administrative Agent shall specify so that the Revolving Credit Exposure applicable to each Lender equals its Applicable Percentage (after giving effect to this Fourth Amendment) of the aggregate Revolving Credit Exposure of all Lenders and (d) the Borrower shall be required to make any break-funding payments required under Section 5.02 of the Credit Agreement resulting from the Loans and adjustments described in this Section 2.2.

 

Section 3.                                           Amendments to Credit Agreement.

 

3.1                               Additional Definition.  Section 1.02 of the Credit Agreement is hereby amended to add thereto in alphabetical order the following definitions which shall read in full as follows:

 

“Fourth Amendment” means the Fourth Amendment to Amended and Restated Senior Secured Credit Agreement dated as of February 4, 2015, among the Borrower, EXLP, the Administrative Agent, the Swingline Lender and the Lenders party thereto.

 

“Fourth Amendment Effective Date” means February 4, 2015.

 

3.2                               Amendment and Restatement of Definition.  The definition “Loan Documents” contained in Section 1.02 of the Credit Agreement is hereby amended and restated to read in full as follows:

 

“Loan Documents” means this Agreement, the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Term Loan Assumption Agreements, the Notes, the Letter of Credit Agreements, the Commitment Increase Certificates, the Additional Lender Certificates, the Letters of Credit, the Fee Letter, the Security Instruments and each compliance

 

2

 

certificate, Borrowing Request, Letter of Credit Request or Interest Election Request executed by the Borrower pursuant to this Agreement.

 

3.3                               Amendment to Section 2.06(c)(ii)(A).  Section 2.06(c)(ii)(A) of the Credit Agreement is hereby amended by deleting “Third Amendment Effective Date” and replacing it with “Fourth Amendment Effective Date” and by deleting “$300,000,000” and replacing it with “$50,000,000.”

 

3.4                               Annex I to the Credit Agreement is hereby amended by deleting it in its entirety and replacing it with Exhibit A attached hereto and Exhibit A attached hereto shall be deemed to be attached as Annex I to the Credit Agreement.

 

Section 4.                                           Conditions Precedent.  This Fourth Amendment shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 12.02 of the Credit Agreement) (the “Fourth Amendment Effective Date”):

 

4.1                               The Administrative Agent shall have received from the Majority Lenders (before giving effect to this Fourth Amendment), the Increase Lenders, the Borrower, and each Guarantor counterparts (in such number as may be requested by the Administrative Agent) of this Fourth Amendment signed on behalf of such Persons.

 

4.2                               In addition to the fees described in Section 4.3 hereof, the Borrower shall have paid, and the Administrative Agent and the Lenders shall have received, all fees and other amounts due and payable on or prior to the Fourth Amendment Effective Date, including, to the extent invoiced, reimbursement or payment of all reasonable and documented out-of-pocket costs and expenses required to be reimbursed or paid by the Borrower under the Credit Agreement.

 

4.3                               The Administrative Agent shall have received, for the account of each of the Increase Lenders, on a pro rata basis in accordance with their final allocated portion of the Aggregate Revolving Commitment Increase, upfront fees (the “Upfront Fees”) in an aggregate amount equal to 35 basis points (0.35%) of the amount of the Aggregate Revolving Commitment Increase in effect on the Fourth Amendment Effective Date.

 

4.4                               The Administrative Agent shall have received duly executed Revolving Credit Notes payable to each Lender that has requested a Revolving Credit Note in a principal amount equal to such Lender’s Revolving Commitment after giving effect to the Aggregate Revolving Commitment Increase and dated as of the Fourth Amendment Effective Date.

 

4.5                               No Default or Event of Default shall have occurred and be continuing as of the date hereof, after giving effect to the terms of this Fourth Amendment.

 

4.6                               The Administrative Agent shall have received an opinion with respect to the Fourth Amendment addressed to the Administrative Agent and the Lenders from the Borrower’s counsel.

 

4.7                               The Administrative Agent shall have received a certificate of the Secretary or an Assistant Secretary (or its equivalent) of each of the Borrower, EXLP and each other Obligor,

 

3

 

setting forth (A) resolutions of its board of directors (or equivalent governing body) with respect to the authorization of such Obligor to execute and deliver this Fourth Amendment and, if applicable, the Reaffirmation and Ratification attached hereto (collectively, the “Amendment Documents”) and to enter into the transactions contemplated thereby, (B) the officers (or the equivalent thereof) of such Obligor (I) who will be signing the Amendment Documents to which such Obligor is a party and (II) who will, until replaced by another officer or officers (or the equivalent thereof) duly authorized for that purpose, act as a representative of such Obligor for the purposes of signing documents and giving notices and other communications in connection with the Amendment Documents to which it is a party and the transactions contemplated thereby, (C) specimen signatures of the authorized officers (or the equivalent thereof) referred to in clause (I), and (D) the Organization Documents of such Obligor, certified as being true and complete.  The Administrative Agent and the Lenders may conclusively rely on such certificate until the Administrative Agent receives notice in writing from such party to the contrary.

 

4.8                               The Administrative Agent shall have received certificates with respect to the existence, qualification and good standing of EXLP, the Borrower and each other Obligor issued by the appropriate state agencies in the jurisdiction of organization of such Obligor.

 

4.9                               The Administrative Agent shall have received such other documents as the Administrative Agent (or its counsel) may reasonably request relating to the transactions contemplated by the Fourth Amendment.

 

Section 5.                                           New Lenders.  Each New Lender hereby joins in, becomes a party to, and agrees to comply with and be bound by the terms and conditions of the Credit Agreement as a Lender thereunder and under each and every other Loan Document to which any Lender is required to be bound by the Credit Agreement, to the same extent as if such New Lender were an original signatory thereto.  Each New Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Credit Agreement as are delegated to the Administrative Agent by the terms thereof, together with such powers and discretion as are reasonably incidental thereto.  Each New Lender represents and warrants that (a) it has full power and authority, and has taken all action necessary, to execute and deliver this Fourth Amendment, to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (b) it has received a copy of the Credit Agreement and copies of the most recent financial statements delivered pursuant to Section 8.01 thereof, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Fourth Amendment and to become a Lender on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, and (c) from and after the Fourth Amendment Effective Date, it shall be a party to and be bound by the provisions of the Credit Agreement and the other Loan Documents and have the rights and obligations of a Lender thereunder.

 

Section 6.                                           Miscellaneous.

 

6.1                               Confirmation.  The provisions of the Credit Agreement, as amended by this Fourth Amendment, shall remain in full force and effect following the effectiveness of this Fourth Amendment.  The amendments contemplated hereby shall not limit or impair any Liens granted by the Borrower, EXLP or any other Obligor to secure the Indebtedness, each of which

 

4

 

are hereby ratified, affirmed and extended to secure the Indebtedness as it may be increased pursuant hereto.

 

6.2                               Representations and Warranties.

 

(a)                                 Ratification and Affirmation. The Borrower and EXLP hereby: (i) acknowledge the terms of this Fourth Amendment; (ii) ratify and affirm their obligations under, and acknowledge, renew and extend their continued liability under, each Loan Document to which they are a party and agree that each Loan Document to which they are a party remains in full force and effect, except as expressly amended hereby, after giving effect to the amendments contained herein; (iii) agree that, from and after the Fourth Amendment Effective Date, each reference to the Credit Agreement in the Security Instruments and the other Loan Documents shall be deemed to be a reference to the Credit Agreement, as amended by this Fourth Amendment; and (iv) represent and warrant to the Lenders that as of the date hereof, after giving effect to the terms of this Fourth Amendment: (A) all of the representations and warranties made by the Borrower and EXLP contained in each Loan Document to which they are a party are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representation or warranty that is already qualified or modified by materiality in the text thereof), unless such representations and warranties are stated to relate to a specific earlier date, in which case, such representations and warranties shall be true and correct in all material respects as of such earlier date and (B) no Default or Event of Default has occurred and is continuing.

 

(b)                                 Corporate Authority; Enforceability; No Conflicts.  The Borrower and EXLP hereby represent and warrant to the Lenders that (i) they have all necessary power and authority to execute, deliver and perform their respective obligations under this Fourth Amendment; (ii) the execution, delivery and performance by the Borrower and EXLP of this Fourth Amendment has been duly authorized by all necessary action on their part; (iii) this Fourth Amendment has been duly executed and delivered by the Borrower and EXLP and constitutes the legal, valid and binding obligation of the Borrower and EXLP in accordance with its terms, except to the extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws generally affecting creditor’s rights and by equitable principles (regardless of whether enforcement is sought in equity or at law); (iv) the execution and delivery of this Fourth Amendment by the Borrower and EXLP and the performance of their respective obligations hereunder require no authorizations, approvals or consent, or registration or filing with, or further action by, any Governmental Authority, except for those that have been obtained or made and are in effect; and (v) neither the execution and delivery of this Fourth Amendment nor compliance with the terms hereof will contravene, or result in a breach of, the charter or by-laws of the Borrower and EXLP, any Governmental Requirement, any agreement or instrument to which the Borrower and EXLP is a party (other than any agreement or instrument the contravention of which or breach of which could not reasonably be expected to be materially adverse to any Secured Party) or by which it is bound or to which it or its Properties are subject, or constitute a default under any such agreement or instrument.

 

5

 

6.3                               Loan Document.  This Fourth Amendment is a “Loan Document” as defined and described in the Credit Agreement and all of the terms and provisions of the Credit Agreement relating to Loan Documents shall apply hereto.

 

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

 

6.5                               Counterparts.  This Fourth Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of this Fourth Amendment by facsimile transmission or electronic transmission (e.g., PDF) shall be effective as delivery of a manually executed counterpart hereof.

 

6.6                               NO ORAL AGREEMENT.  THIS FOURTH AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES RELATING TO THE SUBJECT MATTER HEREOF AND THEREOF AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES.

 

6.7                               GOVERNING LAW.  THIS FOURTH AMENDMENT (INCLUDING, BUT NOT LIMITED TO, THE VALIDITY AND ENFORCEABILITY HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS.

 

[Signatures Pages Follow]

 

6

 

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

 

	
 
    	
EXLP   OPERATING LLC, as Borrower
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   David S. Miller
    
	
 
    	
Name:
    	
David   S. Miller
    
	
 
    	
Title:
    	
Senior   Vice President and Chief Financial Officer
    

 

 

	
 
    	
EXTERRAN   PARTNERS, L.P., as Guarantor
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
EXTERRAN   GENERAL PARTNER, L.P., its general partner
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
EXTERRAN   GP LLC, its general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   David S. Miller
    
	
 
    	
Name:   
    	
David   S. Miller
    
	
 
    	
Title:   
    	
Senior   Vice President and Chief Financial Officer
    

 

 

	
 
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent   and Swingline Lender and as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   C. David Allman
    
	
 
    	
Name:   
    	
C.   David Allman
    
	
 
    	
Title:   
    	
Managing   Director
    

 

 

	
 
    	
JPMORGAN   CHASE BANK, N.A., as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Thomas Okamoto
    
	
 
    	
Name:   
    	
Thomas   Okamoto
    
	
 
    	
Title:   
    	
Authorized   Officer
    

 

 

	
 
    	
THE   ROYAL BANK OF SCOTLAND PLC, as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Steve Ray
    
	
 
    	
Name:   
    	
Steve   Ray
    
	
 
    	
Title:   
    	
Authorised   Signatory
    

 

 

	
 
    	
ROYAL   BANK OF CANADA, as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Jason S. York
    
	
 
    	
Name:   
    	
Jason   S. York
    
	
 
    	
Title:   
    	
Authorized   Signatory
    

 

 

	
 
    	
SUMITOMO   MITSUI BANKING CORPORATION, as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   James D. Weinstein
    
	
 
    	
Name:
    	
James   D. Weinstein
    
	
 
    	
Title:
    	
Managing   Director
    

 

 

	
 
    	
REGIONS   BANK, as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Richard Kaufman
    
	
 
    	
Name:
    	
Richard   Kaufman
    
	
 
    	
Title:
    	
Senior   Vice President
    

 

 

	
 
    	
COMPASS   BANK, as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael Dixon
    
	
 
    	
Name:
    	
Michael   Dixon
    
	
 
    	
Title:
    	
Senior   Vice President
    

 

 

	
 
    	
BANK   OF NOVA SCOTIA, as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Mark Sparrow
    
	
 
    	
Name:
    	
Mark   Sparrow
    
	
 
    	
Title:
    	
Director
    

 

 

	
 
    	
CREDIT   AGRICOLE CORPORATE AND INVESTMENT BANK, as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael Willis
    
	
 
    	
Name:
    	
Michael   Willis
    
	
 
    	
Title:
    	
Managing   Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Darrell Stanley
    
	
 
    	
Name:
    	
Darrell   Stanley
    
	
 
    	
Title:
    	
Managing   Director
    

 

 

	
 
    	
BRANCH   BANKING AND TRUST, as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   DeVon J. Lang
    
	
 
    	
Name:
    	
DeVon   J. Lang
    
	
 
    	
Title:
    	
Senior   Vice President
    

 

 

	
 
    	
MUFG   UNION BANK, N.A. f/k/a UNION BANK, N.A., as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Stacy Goldstein
    
	
 
    	
Name:
    	
Stacy   Goldstein
    
	
 
    	
Title:
    	
Vice   President
    

 

 

	
 
    	
TRUSTMARK   NATIONAL BANK, as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jeff Deutsch
    
	
 
    	
Name:
    	
Jeff   Deutsch
    
	
 
    	
Title:
    	
SVP
    

 

 

	
 
    	
PNC   BANK, NA, as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jonathan Luchansky
    
	
 
    	
Name:
    	
Jonathan   Luchansky
    
	
 
    	
Title:
    	
Assistant   Vice President
    

 

 

	
 
    	
RAYMOND   JAMES BANK, N.A., as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Scott G. Axelrod
    
	
 
    	
Name:
    	
Scott   G. Axelrod
    
	
 
    	
Title:
    	
Senior   Vice President
    

 

 

	
 
    	
BOKF,   NA D/B/A BANK OF TEXAS, as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Daniel Fain
    
	
 
    	
Name:
    	
Daniel   Fain
    
	
 
    	
Title:
    	
Assistant   Vice President
    

 

 

	
 
    	
BANK   OF AMERICA, N.A., as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Anthony A. Eastman
    
	
 
    	
Name:
    	
Anthony   A. Eastman
    
	
 
    	
Title:
    	
Vice   President
    

 

 

	
 
    	
CITIBANK,   N.A., as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
s/   Ivan Davey
    
	
 
    	
Name:
    	
Ivan   Davey
    
	
 
    	
Title:
    	
Vice   President
    

 

 

	
 
    	
SANTANDER   BANK, N.A., as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Aidan Lanigan
    
	
 
    	
Name:
    	
Aidan   Lanigan
    
	
 
    	
Title:
    	
SVP
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Puiki Lok
    
	
 
    	
Name:
    	
Puiki   Lok
    
	
 
    	
Title:
    	
VP
    

 

 

	
 
    	
ONEWEST   BANK N.A., as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Sean Murphy
    
	
 
    	
Name:
    	
Sean   Murphy
    
	
 
    	
Title:
    	
Executive   Vice President
    

 

 

REAFFIRMATION AND RATIFICATION: Each Guarantor hereby (a) acknowledges the terms of this Fourth Amendment; (b) ratifies and affirms its obligations under, and acknowledges its continued liability under, each Loan Document to which it is a party, including the Guaranty Agreement, and agrees that each Loan Document to which it is a party, including the Guaranty Agreement, remains in full force and effect as expressly amended hereby; and (c) represents and warrants to the Lenders that, as of the date hereof, after giving effect to the terms of this Fourth Amendment: (i) all of the representations and warranties made by such Guarantor contained in each Loan Document to which such Guarantor is a party, including the Guaranty Agreement, are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representation or warranty that is already qualified or modified by materiality in the text thereof) as though made on and as of the Fourth Amendment Effective Date (unless such representations and warranties are stated to relate to a specific earlier date, in which case, such representations and warranties shall be true and correct in all material respects as of such earlier date) and (ii) no Default or Event of Default has occurred and is continuing.

 

 

	
ACKNOWLEDGED   AND RATIFIED:
    	
EXTERRAN   PARTNERS, L.P.
    
	
 
    	
 
    
	
 
    	
By:
    	
EXTERRAN   GENERAL PARTNER, L.P., its general partner
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
EXTERRAN   GP LLC, its general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   David S. Miller
    
	
 
    	
Name:   
    	
David   S. Miller
    
	
 
    	
Title:
    	
Senior   Vice President and Chief Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
EXLP   LEASING LLC
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   David S. Miller
    
	
 
    	
Name:   
    	
David   S. Miller
    
	
 
    	
Title:
    	
Senior   Vice President and Chief Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
EXLP   FINANCE CORP.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   David S. Miller
    
	
 
    	
Name:   
    	
David   S. Miller
    
	
 
    	
Title:
    	
Senior   Vice President and Chief Financial Officer
    

 

 

EXHIBIT A

 

ANNEX I
 AGGREGATE REVOLVING COMMITMENTS AND AGGREGATE TERM LOANS
 (as of the Fourth Amendment Effective Date immediately after
 giving effect to the Fourth Amendment)

 

	
 
    	
 
    	
Allocations
    	
 
    
	
Institution
    	
 
    	
Revolver
    	
 
    	
Term Loan
    	
 
    	
Total
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Wells Fargo Bank, National Association 
    	
 
    	
$
    	
69,204,964.86
    	
 
    	
$
    	
15,089,101.24
    	
 
    	
$
    	
84,294,066.10
    	
 
    
	
Credit Agricole Corporate and Investment Bank 
    	
 
    	
$
    	
66,169,109.51
    	
 
    	
$
    	
13,125,000.00
    	
 
    	
$
    	
79,294,109.51
    	
 
    
	
JPMorgan Chase Bank, N.A. 
    	
 
    	
$
    	
66,169,109.51
    	
 
    	
$
    	
13,125,000.00
    	
 
    	
$
    	
79,294,109.51
    	
 
    
	
Royal Bank of Canada 
    	
 
    	
$
    	
66,169,109.51
    	
 
    	
$
    	
13,125,000.00
    	
 
    	
$
    	
79,294,109.51
    	
 
    
	
Bank of America, N.A. 
    	
 
    	
$
    	
58,750,000.00
    	
 
    	
$
    	
11,250,000.00
    	
 
    	
$
    	
70,000,000.00
    	
 
    
	
MUFG Union Bank, N.A. 
    	
 
    	
$
    	
55,625,000.00
    	
 
    	
$
    	
9,375,000.00
    	
 
    	
$
    	
65,000,000.00
    	
 
    
	
Regions Bank 
    	
 
    	
$
    	
55,625,000.00
    	
 
    	
$
    	
9,375,000.00
    	
 
    	
$
    	
65,000,000.00
    	
 
    
	
Compass Bank 
    	
 
    	
$
    	
56,732,954.55
    	
 
    	
$
    	
8,267,045.45
    	
 
    	
$
    	
65,000,000.00
    	
 
    
	
The Royal Bank Of Scotland plc 
    	
 
    	
$
    	
56,875,000.00
    	
 
    	
$
    	
6,625,000.00
    	
 
    	
$
    	
63,500,000.00
    	
 
    
	
Sumitomo Mitsui Banking Corporation 
    	
 
    	
$
    	
50,929,752.06
    	
 
    	
$
    	
8,987,603.31
    	
 
    	
$
    	
59,917,355.37
    	
 
    
	
Citibank, N.A.
    	
 
    	
$
    	
50,000,000.00
    	
 
    	
—
    	
 
    	
$
    	
50,000,000.00
    	
 
    
	
Bank of Nova Scotia 
    	
 
    	
$
    	
39,375,000.00
    	
 
    	
$
    	
5,625,000.00
    	
 
    	
$
    	
45,000,000.00
    	
 
    
	
Branch Banking and Trust 
    	
 
    	
$
    	
39,375,000.00
    	
 
    	
$
    	
5,625,000.00
    	
 
    	
$
    	
45,000,000.00
    	
 
    
	
Capital One, National Association
    	
 
    	
$
    	
28,437,500.00
    	
 
    	
$
    	
6,562,500.00
    	
 
    	
$
    	
35,000,000.00
    	
 
    
	
Santander Bank, N.A.
    	
 
    	
$
    	
35,000,000.00
    	
 
    	
—
    	
 
    	
$
    	
35,000,000.00
    	
 
    
	
PNC Bank, N.A. 
    	
 
    	
$
    	
24,312,500.00
    	
 
    	
$
    	
4,687,500.00
    	
 
    	
$
    	
29,000,000.00
    	
 
    
	
Raymond James Bank, N.A. 
    	
 
    	
$
    	
16,250,000.00
    	
 
    	
$
    	
11,656,250.00
    	
 
    	
$
    	
27,906,250.00
    	
 
    
	
OneWest Bank N.A.
    	
 
    	
$
    	
25,000,000.00
    	
 
    	
—
    	
 
    	
$
    	
25,000,000.00
    	
 
    
	
Trustmark National Bank 
    	
 
    	
$
    	
20,312,500.00
    	
 
    	
$
    	
4,687,500.00
    	
 
    	
$
    	
25,000,000.00
    	
 
    
	
Goldman Sachs Bank USA 
    	
 
    	
$
    	
12,187,500.00
    	
 
    	
$
    	
2,812,500.00
    	
 
    	
$
    	
15,000,000.00
    	
 
    
	
BOKF, NA d/b/a Bank of Texas 
    	
 
    	
$
    	
7,500,000.00
    	
 
    	
—
    	
 
    	
$
    	
7,500,000.00
    	
 
    
	
Total 
    	
 
    	
$
    	
900,000,000.00
    	
 
    	
$
    	
150,000,000.00
    	
 
    	
$
    	
1,050,000,000.00

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}]]