Document:

ex10-1.htm

    EXHIBIT
10.1

     

      EXECUTION
COPY

      

      

       

      

       

      

       

      

       

      AMENDED
AND RESTATED CREDIT AGREEMENT

       

      Dated as
of January 12, 2010

       

      among

       

      SCHAWK,
INC.,

       

      as the
Borrower,

       

      THE
SUBSIDIARY BORROWERS FROM TIME TO TIME PARTIES HERETO,

       

      THE
ALTERNATE CURRENCY BORROWERS FROM TIME TO TIME PARTIES HERETO,

       

      

       

      THE
INSTITUTIONS FROM TIME TO TIME

       

      PARTIES
HERETO AS LENDERS

       

      and

       

      JPMORGAN
CHASE BANK, N.A.

       

      as Agent
and Collateral Agent

       

       

      ___________________________________________________________________________

       

       

      J.P.
MORGAN SECURITIES INC.,

      as
Lead Arranger and Sole Book Runner

       

      _____________________________________________________________________________

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      TABLE OF
CONTENTS

       

      
        
          	 Section	 	 
	
                  
ARTICLE I:

                	
                  DEFINITIONS

                	
                  1

                
	
                  1.1.

                	
                  Certain
      Defined Terms.

                	
                  1

                
	
                  1.2.

                	
                  References

                	
                  26

                
	
                  1.3.

                	
                  Supplemental
      Disclosure

                	
                  26

                
	
                  1.4.

                	
                  Borrower
      Acting on Behalf of Itself and Subsidiary Borrowers

                	
                  26

                
	
                  1.5.

                	
                  Joint
      and Several Liability for Obligations of the Borrower and Domestic
      Subsidiary Borrowers; Joint and Several Liability for Obligations of the
      Foreign Subsidiary Borrowers; No Liability of Foreign Subsidiary Borrowers
      for Obligations of the Borrower or the Domestic Subsidiary
      Borrowers

                	
                  26

                
	
                  1.6.

                	
                  Amendment
      and Restatement of Existing Credit Agreement

                	
                  27

                
	 	 	 
	
                  ARTICLE
      II:

                	
                  REVOLVING
      LOAN FACILITIES

                	
                  28

                
	
                  2.1.

                	
                  [Reserved]

                	
                  28

                
	
                  2.2.

                	
                  Revolving
      Loans

                	
                  28

                
	
                  2.3.

                	
                  Swing
      Line Loans

                	
                  29

                
	
                  2.4.

                	
                  Rate
      Options for all Advances; Maximum Interest Periods

                	
                  31

                
	
                  2.5.

                	
                  Optional
      Payments; Mandatory Prepayments

                	
                  31

                
	
                  2.6.

                	
                  Reduction
      of Commitments

                	
                  33

                
	
                  2.7.

                	
                  Method
      of Borrowing

                	
                  33

                
	
                  2.8.

                	
                  Method
      of Selecting Types and Interest Periods for Advances

                	
                  33

                
	
                  2.9.

                	
                  Minimum
      Amount of Each Advance

                	
                  34

                
	
                  2.10.

                	
                  Method
      of Selecting Types and Interest Periods for Conversion and Continuation of
      Advances

                	
                  34

                
	
                  2.11.

                	
                  Default
      Rate

                	
                  35

                
	
                  2.12.

                	
                  Method
      of Payment

                	
                  35

                
	
                  2.13.

                	
                  Evidence
      of Debt

                	
                  36

                
	
                  2.14.

                	
                  Telephonic
      Notices

                	
                  37

                
	
                  2.15.

                	
                  Promise
      to Pay; Interest and Commitment Fees; Interest Payment Dates; Interest and
      Fee Basis; Taxes; Loan and Control Accounts

                	
                  37

                
	
                  2.16.

                	
                  Notification
      of Advances, Interest Rates, Prepayments and Aggregate Revolving Loan
      Commitment Reductions

                	
                  41

                
	
                  2.17.

                	
                  Lending
      Installations

                	
                  42

                
	
                  2.18.

                	
                  Non-Receipt
      of Funds by the Agent

                	
                  42

                
	
                  2.19.

                	
                  Termination
      Date

                	
                  42

                
	
                  2.20.

                	
                  Replacement
      of Certain Lenders

                	
                  42

                
	
                  2.21.

                	
                  Alternate
      Currency Loans

                	
                  43

                
	
                  2.22.

                	
                  Judgment
      Currency

                	
                  45

                
	
                  2.23.

                	
                  Market
      Disruption; Denomination of Amounts in Dollars; Dollar Equivalent of
      Reimbursement Obligations

                	
                  46

                
	
                  2.24.

                	
                  Payments
      to be Free and Clear

                	
                  46

                
	
                  2.25.

                	
                  Additional
      Borrowers

                	
                  47

                
	
                  2.26.

                	
                  Increase
      of Aggregate Revolving Loan Commitment

                	
                  48

                
	 	 	 
	
                  ARTICLE
      III:

                	
                  THE
      LETTER OF CREDIT FACILITY

                	
                  49

                

           

          
            
              
              

            

            
              i

              
                

              

            

            
              
              

            

          

           

          	
                  3.1.

                	
                  Obligation
      to Issue Letters of Credit

                	
                  49

                
	
                  3.2.

                	
                  Transitional
      Provision

                	
                  49

                
	
                  3.3.

                	
                  Types
      and Amounts

                	
                  49

                
	
                  3.4.

                	
                  Conditions

                	
                  50

                
	
                  3.5.

                	
                  Procedure
      for Issuance of Letters of Credit

                	
                  50

                
	
                  3.6.

                	
                  Letter
      of Credit Participation

                	
                  50

                
	
                  3.7.

                	
                  Reimbursement
      Obligation

                	
                  51

                
	
                  3.8.

                	
                  Letter
      of Credit Fees

                	
                  51

                
	
                  3.9.

                	
                  Issuing
      Bank Reporting Requirements

                	
                  52

                
	
                  3.10.

                	
                  Indemnification;
      Exoneration

                	
                  52

                
	
                  3.11.

                	
                  Cash
      Collateral

                	
                  53

                
	 	 	 
	
                  ARTICLE
      IV:

                	
                  CHANGE
      IN CIRCUMSTANCES

                	
                  53

                
	
                  4.1.

                	
                  Yield
      Protection

                	
                  54

                
	
                  4.2.

                	
                  Changes
      in Capital Adequacy Regulations

                	
                  54

                
	
                  4.3.

                	
                  Availability
      of Types of Advances

                	
                  54

                
	
                  4.4.

                	
                  Funding
      Indemnification

                	
                  55

                
	
                  4.5.

                	
                  Lender
      Statements; Survival of Indemnity

                	
                  55

                
	 	 	 
	
                  ARTICLE
      V:

                	
                  CONDITIONS
      PRECEDENT

                	
                  55

                
	
                  5.1.

                	
                  Effectiveness

                	
                  55

                
	
                  5.2.

                	
                  Each
      Advance and Letter of Credit

                	
                  56

                
	
                  5.3.

                	
                  Initial
      Advance to Each New Alternate Currency Borrower

                	
                  57

                
	
                  5.4.

                	
                  Initial
      Advance to Each New Subsidiary Borrower

                	
                  58

                
	 	 	 
	
                  ARTICLE
      VI:

                	
                  REPRESENTATIONS
      AND WARRANTIES

                	
                  58

                
	
                  6.1.

                	
                  Organization;
      Corporate Powers

                	
                  58

                
	
                  6.2.

                	
                  Authority

                	
                  59

                
	
                  6.3.

                	
                  No
      Conflict; Governmental Consents

                	
                  59

                
	
                  6.4.

                	
                  Financial
      Statements

                	
                  60

                
	
                  6.5.

                	
                  No
      Material Adverse Change

                	
                  60

                
	
                  6.6.

                	
                  Taxes

                	
                  60

                
	
                  6.7.

                	
                  Litigation;
      Loss Contingencies and Violations

                	
                  61

                
	
                  6.8.

                	
                  Subsidiaries

                	
                  61

                
	
                  6.9.

                	
                  ERISA

                	
                  61

                
	
                  6.10.

                	
                  Accuracy
      of Information

                	
                  62

                
	
                  6.11.

                	
                  Securities
      Activities

                	
                  62

                
	
                  6.12.

                	
                  Material
      Agreements

                	
                  62

                
	
                  6.13.

                	
                  Compliance
      with Laws

                	
                  63

                
	
                  6.14.

                	
                  Assets
      and Properties

                	
                  63

                
	
                  6.15.

                	
                  Statutory
      Indebtedness Restrictions

                	
                  63

                
	
                  6.16.

                	
                  Insurance

                	
                  63

                
	
                  6.17.

                	
                  Labor
      Matters

                	
                  63

                
	
                  6.18.

                	
                  No
      Default or Unmatured Default

                	
                  63

                
	
                  6.19.

                	
                  Environmental
      Matters

                	
                  63

                
	
                  6.20.

                	
                  Solvency

                	
                  64

                
	
                  6.21.

                	
                  Representations
      and Warranties of each Alternate Currency Borrower

                	
                  64

                
	
                  6.22.

                	
                  Representations
      and Warranties of each Subsidiary Borrower

                	
                  66

                

           

          
            
              
              

            

            
              ii

              
                

              

            

            
              
              

            

          

           

          	
                  6.23.

                	
                  Security
      Interest in Collateral

                	
                  67

                
	 	 	 
	
                  ARTICLE
      VII:

                	
                  COVENANTS

                	
                  67

                
	
                  7.1.

                	
                  Reporting

                	
                  67

                
	
                  7.2.

                	
                  Affirmative
      Covenants

                	
                  72

                
	
                  7.3.

                	
                  Negative
      Covenants

                	
                  75

                
	
                  7.4.

                	
                  Financial
      Covenants

                	
                  82

                
	 	 	 
	
                  ARTICLE
      VIII:

                	
                  DEFAULTS

                	
                  85

                
	
                  8.1.

                	
                  Defaults

                	
                  85

                
	 	 	 
	
                  ARTICLE
      IX:

                	
                  ACCELERATION,
      DEFAULTING LENDERS; WAIVERS, AMENDMENTS AND REMEDIES

                	
                  87

                
	
                  9.1.

                	
                  Termination
      of Revolving Loan Commitments; Acceleration

                	
                  87

                
	
                  9.2.

                	
                  Defaulting
      Lender

                	
                  88

                
	
                  9.3.

                	
                  Amendments

                	
                  89

                
	
                  9.4.

                	
                  Preservation
      of Rights

                	
                  90

                
	 	 	 
	
                  ARTICLE
      X:

                	
                  GENERAL
      PROVISIONS

                	
                  90

                
	
                  10.1.

                	
                  Survival
      of Representations

                	
                  90

                
	
                  10.2.

                	
                  Governmental
      Regulation

                	
                  90

                
	
                  10.3.

                	
                  Performance of Obligations

                	
                  91

                
	
                  10.4.

                	
                  Headings

                	
                  91

                
	
                  10.5.

                	
                  Entire
      Agreement

                	
                  91

                
	
                  10.6.

                	
                  Several
      Obligations; Benefits of this Agreement

                	
                  91

                
	
                  10.7.

                	
                  Expenses;
      Indemnification

                	
                  91

                
	
                  10.8.

                	
                  Numbers
      of Documents

                	
                  93

                
	
                  10.9.

                	
                  Accounting

                	
                  93

                
	
                  10.10.

                	
                  Severability
      of Provisions

                	
                  93

                
	
                  10.11.

                	
                  Nonliability
      of Lenders

                	
                  94

                
	
                  10.12.

                	
                  GOVERNING
      LAW

                	
                  94

                
	
                  10.13.

                	
                  CONSENT TO JURISDICTION; SERVICE OF
      PROCESS; JURY TRIAL

                	
                  94

                
	
                  10.14.

                	
                  USA
      Patriot Act Notification

                	
                  95

                
	
                  10.15.

                	
                  Appointment
      for Perfection

                	
                  95

                
	 	 	 
	
                  ARTICLE
      XI:

                	
                  THE
      AGENTS

                	
                  95

                
	
                  11.1.

                	
                  Appointment;
      Nature of Relationship

                	
                  95

                
	
                  11.2.

                	
                  Powers

                	
                  96

                
	
                  11.3.

                	
                  General
      Immunity

                	
                  96

                
	
                  11.4.

                	
                  No
      Responsibility for Loans, Creditworthiness, Recitals, Etc

                	
                  96

                
	
                  11.5.

                	
                  Action
      on Instructions of Lenders

                	
                  96

                
	
                  11.6.

                	
                  Employment
      of Agents and Counsel

                	
                  97

                
	
                  11.7.

                	
                  Reliance
      on Documents; Counsel

                	
                  97

                
	
                  11.8.

                	
                  The
      Agents’ and the Alternate Currency Bank’s Reimbursement and
      Indemnification

                	
                  97

                
	
                  11.9.

                	
                  Rights
      as a Lender

                	
                  97

                
	
                  11.10.

                	
                  Lender
      Credit Decision

                	
                  97

                
	
                  11.11.

                	
                  Successor
      Agent

                	
                  98

                
	
                  11.12.

                	
                  Guarantor
      and Collateral Issues

                	
                  98

                

           

          
            
              
              

            

            
              iii

              
                

              

            

            
              
              

            

          

           

          	 	 	 
	
                  ARTICLE
      XII:

                	
                  SETOFF;
      RATABLE PAYMENTS

                	
                  100

                
	
                  12.1.

                	
                  Setoff

                	
                  100

                
	
                  12.2.

                	
                  Ratable
      Payments

                	
                  100

                
	
                  12.3.

                	
                  Application
      of Payments

                	
                  101

                
	
                  12.4.

                	
                  Relations Among Lenders

                	
                  102

                
	 	 	 
	
                  ARTICLE
      XIII:

                	
                  BENEFIT
      OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS

                	
                  102

                
	
                  13.1.

                	
                  Successors
      and Assigns

                	
                  102

                
	
                  13.2.

                	
                  Participations

                	
                  103

                
	
                  13.3.

                	
                  Assignments

                	
                  104

                
	
                  13.4.

                	
                  Confidentiality

                	
                  105

                
	
                  13.5.

                	
                  Dissemination
      of Information

                	
                  105

                
	
                  13.6.

                	
                  Tax
      Certifications

                	
                  106

                
	 	 	 
	
                  ARTICLE
      XIV:

                	
                  NOTICES

                	
                  106

                
	
                  14.1.

                	
                  Giving
      Notice

                	
                  106

                
	
                  14.2.

                	
                  Change
      of Address

                	
                  106

                
	 	 	 
	
                  ARTICLE
      XV:

                	
                  COUNTERPARTS

                	
                  106

                
	 	 	 
	
                  ARTICLE
      XVI:

                	
                  BORROWER
      GUARANTEE

                	
                  106

                

        

        

         

        
          
            
            

          

          
            iv

            
              

            

          

          
            
            

          

        

      

       

      AMENDED AND RESTATED CREDIT
AGREEMENT

       

      This
Amended and Restated Credit Agreement dated as of January 12, 2010 is entered
into among SCHAWK, INC., a Delaware corporation (the “Borrower”),
the Subsidiary Borrowers and the Alternate Currency Borrowers from time to time
parties hereto, the institutions from time to time parties hereto as Lenders,
whether by execution of this Agreement or an Assignment Agreement pursuant to
Section 13.3,
the Departing Lenders, if any, party hereto and JPMORGAN CHASE BANK, N.A., in
its capacity as contractual representative for itself and the other Lenders, to
amend and restate the Existing Credit Agreement, which is hereby amended and
restated in its entirety.

       

      WHEREAS,
the Borrower has requested, and the Agent, the Collateral Agent, the Departing
Lenders and the Lenders have agreed, to amend the Existing Credit
Agreement;

       

      WHEREAS,
the Borrower, the Lenders, the Departing Lenders, the Collateral Agent and the
Agent have agreed (a) to enter into this Agreement in order to (i) amend and
restate the Existing Credit Agreement in its entirety; (ii) re-evidence the
Obligations, which shall be repayable in accordance with the terms of this
Agreement; and (iii) set forth the terms and conditions under which the Lenders
will, from time to time, make loans and extend other financial accommodations to
or for the benefit of the Borrower and (b) that each Departing Lender shall
cease to be a party to the Existing Credit Agreement, as evidenced by its
execution and delivery of its Departing Lender Signature Page; and

       

      WHEREAS,
it is the intention of the parties to this Agreement that this Agreement not
constitute a novation and that, from and after the Closing Date, the Existing
Credit Agreement shall be amended and restated hereby and all references herein
to “hereunder,” “hereof,” or words of like import and all references in any
other Loan Document to the “Credit Agreement” or words of like import shall mean
and be a reference to the Existing Credit Agreement as amended and restated
hereby (and any section references to the Existing Credit Agreement shall refer
to the applicable equivalent provision set forth herein although the section
number thereof may have changed);

       

      NOW,
THEREFORE, in consideration of the terms and conditions contained herein, and of
any loans or extensions of credit heretofore, now or hereafter made to or for
the benefit of the Borrower by the Lenders, the Collateral Agent and the Agent,
the parties hereto agree as follows:

       

      ARTICLE  I:     DEFINITIONS

       

      1.1.  Certain Defined
Terms.  In addition to the terms defined above, the following
terms used in this Agreement shall have the following meanings, applicable both
to the singular and the plural forms of the terms defined.

       

      As used
in this Agreement:

       

      “Acquisition”
means any transaction, or any series of related transactions, consummated on or
after the date of this Agreement, by which the Borrower or any of its
Subsidiaries (i) acquires any going business or all or substantially all of the
assets of any firm, corporation or division thereof, whether through purchase of
assets, merger or otherwise or (ii) directly or indirectly acquires (in one
transaction or as the most recent transaction in a series of transactions) at
least a majority (in number of votes) of the securities of a corporation which
have ordinary voting power for the election of directors (other than securities
having such power only by reason of the happening of a contingency) or a
majority (by percentage of voting power) of the outstanding Equity Interests of
another Person.

       

       

       

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

       

      “Advance”
means a borrowing hereunder consisting of the aggregate amount of the several
Loans made by the Lenders to a Borrower of the same Type and, in the case of
Eurocurrency Rate Advances and Alternate Currency Loans, in the same currency
and for the same Interest Period.

       

      “Affected
Foreign Subsidiary” is defined in the definition of “Subsidiary
Guarantor”.

       

      “Affected
Lender” is defined in Section 2.20
hereof.

       

      “Affiliate”
of any Person means any other Person directly or indirectly controlling,
controlled by or under common control with such Person.  A Person
shall be deemed to control another Person if the controlling Person is the
“beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act
of 1934) of greater than nine and nine-tenths percent (9.90%) or more of any
class of voting securities (or other voting interests) of the controlled Person
or possesses, directly or indirectly, the power to direct or cause the direction
of the management or policies of the controlled Person, whether through
ownership of Capital Stock, by contract or otherwise.

       

      “Agent”
means JPMorgan in its capacity as contractual representative for itself and the
Lenders pursuant to Article XI hereof and
any successor Agent appointed pursuant to Article XI
hereof.

       

      “Agents”
means the Agent and the Collateral Agent.

       

      “Aggregate
Revolving Loan Commitment” means the aggregate of the Revolving Loan
Commitments of all the Lenders, as may be increased or reduced from time to time
pursuant to the terms hereof.  The Aggregate Revolving Loan Commitment
as of the Closing Date is Ninety Million and 00/100 Dollars
($90,000,000).

       

      “Agreed
Currencies” means  (i) Dollars  and
(ii) any other Eligible Currency which the Borrower requests the Agent to
include as an Agreed Currency hereunder and which is acceptable to one-hundred
percent (100%) of the Lenders with a Revolving Loan Commitment; provided that the
Agent shall promptly notify each such Lender of each such request and each such
Lender shall be deemed not to have agreed to each such request unless its
written consent thereto has been received by the Agent within five (5) Business
Days from the date of such notification by the Agent to such
Lender.

       

      “Agreed
Letter of Credit Currencies” means (i) Dollars and (ii) any
other currency which the Borrower requests an Issuing Bank to include as an
Agreed Letter of Credit Currency and which is acceptable to such Issuing
Bank.

       

      “Agreement”
means this Amended and Restated Credit Agreement, as it may be amended, restated
or otherwise modified and in effect from time to time.

       

      “Agreement
Accounting Principles” means, with respect to the calculation of
financial ratios and other financial tests required by this Agreement, generally
accepted accounting principles as in effect in the United States as of the date
of this Agreement, applied in a manner consistent with that used in preparing
the financial statements of the Borrower referred to in Section 6.4(B)
hereof; provided, further, however, all pro forma financial
statements reflecting Acquisitions shall be prepared in accordance with the
requirements established by the Commission for acquisition accounting for
reporting acquisitions by public companies (whether or not such Acquisitions are
required to be publicly reported); provided, further, that no
change in accounting principles shall be made from those used in preparing the
financial statements referred to in Section 6.4(B)
hereof, including, without limitation, with respect to the nature or
classification of accounts, closing proceedings, levels of reserves, or levels
of accruals other than as a 

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      result of
objective changes in the underlying business; provided, further, that for
purposes of the preceding clauses, “changes in accounting principles” or
“changes in Agreement Accounting Principles” includes all changes in accounting
principles, policies, practices, procedures, or methodologies with respect to
financial statements, their classification, or their display, as well as all
changes in practices, methods, conventions, or assumptions used in making
accounting estimates.

       

      “Alternate
Base Rate” means, for any day, a fluctuating rate of interest per annum
equal to the highest of (i) the Prime Rate for such day, (ii) the sum of (a) the
Federal Funds Effective Rate for such day and (b) one-half of one percent
(0.50%) per annum and (iii) the Eurocurrency Base Rate for a one month Interest
Period on such day (or if such day is not a Business Day, the immediately
preceding Business Day) plus 1%; provided that, for the avoidance of doubt, the
Eurocurrency Base Rate for any day shall be based on the applicable British
Bankers’ Association LIBOR rate for deposits in Dollars as reported by any
generally recognized financial information service as of 11:00 a.m. (London
time) on such day.  Any change in the Alternate Base Rate due to a
change in the Prime Rate, the Federal Funds Effective Rate or the Eurocurrency
Base Rate shall be effective from and including the effective date of such
change in the Prime Rate, the Federal Funds Effective Rate or the Eurocurrency
Base Rate, respectively.

       

      “Alternate
Currency” shall mean (i) only so long as each such currency remains an
Eligible Currency, Canadian Dollars, British Pounds Sterling and Euro and (ii)
any other Eligible Currency which the applicable Borrower requests the Alternate
Currency Bank to include as an Alternate Currency hereunder and which is
acceptable to the Alternate Currency Bank and with respect to which an Alternate
Currency Addendum has been executed by an Alternate Currency Borrower and the
Alternate Currency Bank in connection therewith.

       

      “Alternate
Currency Addendum” means an addendum substantially in the form of Exhibit J with
such modifications thereto as shall be approved by the Alternate Currency Bank
and the Agent.

       

      “Alternate
Currency Bank” means JPMorgan (or any Affiliate, branch or agency
thereof) to the extent it is party to an Alternate Currency
Addendum.  If any agency, branch or Affiliate of JPMorgan shall be a
party to an Alternate Currency Addendum, such agency, branch or Affiliate shall,
to the extent of any commitment extended and any Loans made by it, have all the
rights of JPMorgan hereunder; provided, however, that
JPMorgan shall to the exclusion of such agency, branch or Affiliate, continue to
have all the voting rights vested in it by the terms hereof.

       

      “Alternate
Currency Borrower” means each of the Borrower’s Subsidiaries, whether now
existing or hereafter formed, that is a party to an Alternate Currency Addendum,
which Subsidiary shall have delivered to the Agent an Assumption Letter in
accordance with Section 2.25(A) and
such other documents as may be required pursuant to this Agreement, in each case
together with its respective successors and assigns including a
debtor-in-possession on behalf of such Alternate Currency Borrower.

       

      “Alternate
Currency Commitment” means, for the Alternate Currency Bank for each
Alternate Currency, the obligation of such Alternate Currency Bank to make
Alternate Currency Loans not exceeding the Dollar Amount set forth in the
applicable Alternate Currency Addendum, as such amount may be modified from time
to time pursuant to the terms of this Agreement and the applicable Alternate
Currency Addendum.

       

      “Alternate
Currency Interest Period” means, with respect to any Alternate Currency
Loan, the Interest Period as set forth on the applicable Alternate Currency
Addendum.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      “Alternate
Currency Loan” means any Loan denominated in an Alternate Currency made
by the Alternate Currency Bank to an Alternate Currency Borrower pursuant to
Section 2.21
and an Alternate Currency Addendum.

       

      “Alternate
Currency Rate” means, for any day for any Alternate Currency Loan, the
per annum rate of interest selected by the applicable Alternate Currency
Borrower under and as set forth in the applicable Alternate Currency
Addendum.

       

      “Applicable
Commitment Fee Percentage” means, as at any date of determination, the
rate per annum then applicable in the determination of the amount payable under
Section
2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii)
hereof.

       

      “Applicable
Eurocurrency Margin” means, as at any date of determination, the rate per
annum then applicable to Eurocurrency Rate Loans determined in accordance with
the provisions of Section 2.15(D)(ii)
hereof.

       

      “Applicable
Floating Rate Margin” means, as at any date of determination, the rate
per annum then applicable to Floating Rate Loans determined in accordance with
the provisions of Section 2.15(D)(ii)
hereof.

       

      “Applicable
L/C Fee Percentage” means, as at any date of determination, the rate per
annum then applicable to the letter of credit fee under Section 3.8(a) hereof
in accordance with the provisions of Section 2.15(D)(ii)
hereof.

       

      “Approved
Fund” means, with respect to any Lender that is a fund or commingled
investment vehicle that invests in commercial loans, any other fund that invests
in commercial loans and is managed or advised by the same investment advisor as
such Lender or by an Affiliate of such investment advisor.

       

      “Approximate
Equivalent Amount” means any currency with respect to any amount of
Dollars shall mean the Equivalent Amount of such currency with respect to such
amount of Dollars at such date, rounded up to the nearest amount of such
currency as determined by the Agent from time to time.

       

      “Arranger”
means J.P. Morgan Securities Inc., in its capacity as the arranger for the loan
transaction evidenced by this Agreement.

       

      “Asset
Sale” means, with respect to any Person, the sale, lease, conveyance,
disposition or other transfer by such Person of any of its assets (including by
way of a sale-leaseback transaction, and including the sale or other transfer of
any of the Equity Interests of any Subsidiary of such Person) to any Person
other than the Borrower or any of its wholly-owned Subsidiaries other than (i)
the sale of Inventory in the ordinary course of business, (ii) the sale or other
disposition of any obsolete, redundant, excess, damaged or worn-out Equipment
disposed of in the ordinary course of business and (iii) leases of personal
property (including leases or licenses of intellectual property) and leases of
surplus or redundant real property.

       

      “Assignment
Agreement” means an assignment and acceptance agreement entered into in
connection with an assignment pursuant to Section 13.3 hereof
in substantially the form of Exhibit
D.

       

      “Assumption
Letter” means a
letter of any Subsidiary which is a Foreign Incorporated Subsidiary addressed to
the Lenders in substantially the applicable form of Exhibit M hereto
pursuant to 

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      which
such Subsidiary agrees to become a Subsidiary Borrower or an Alternate Currency
Borrower and agrees to be bound by the terms and conditions hereof as if
originally a party hereto.

       

      “Authorized
Officer” means any of the President, any Vice President or Chief
Financial Officer of the Borrower, acting singly.

       

      “Banking
Services” means each and any of the following bank services provided to
the Borrower or any Subsidiary by any Lender or any of its Affiliates: (a)
credit cards for commercial customers (including, without limitation, commercial
credit cards and purchasing cards), (b) stored value cards and (c) treasury
management services (including, without limitation, controlled disbursement,
automated clearinghouse transactions, return items, overdrafts and interstate
depository network services).

       

      “Banking
Services Agreement” means any agreement entered into by the Borrower or
any Subsidiary in connection with Banking Services.

       

      “Banking
Services Obligations” means any and all obligations of the Borrower or
any Subsidiary, whether absolute or contingent and howsoever and whensoever
created, arising, evidenced or acquired (including all renewals, extensions and
modifications thereof and substitutions therefor) in connection with Banking
Services.

       

      “Bankruptcy
Code” is defined in Article XVI
hereof.

       

      “Benefit
Plan” means a defined benefit plan as defined in Section 3(35) of ERISA
(other than a Multiemployer Plan) in respect of which the Borrower or any other
member of the Controlled Group is, or within the immediately preceding six (6)
years was, an “employer” as defined in Section 3(5) of ERISA.

       

      “Borrower”
means Schawk, Inc., a Delaware corporation, together with its successors and
assigns, including a debtor-in-possession on behalf of the Borrower, and “Borrowers”
shall mean, collectively, the Borrower, the Subsidiary Borrowers and the
Alternate Currency Borrowers.  For the avoidance of doubt, all
references contained in this Agreement and the other Loan Documents to “the
Borrower” shall be deemed to apply solely to Schawk, Inc. and all references to
“a Borrower” or “any Borrower” or “each Borrower” or “such Borrower” or “no
Borrower” shall be deemed to apply equally to each of the
Borrowers.

       

      “Borrower
Guarantee” is defined in Article XVI
hereof.

       

      “Borrower
Guaranteed Obligations” is defined in Article XVI
hereof.

       

      “Borrowing
Date” means a date on which an Advance or Swing Line Loan is made
hereunder.

       

      “Borrowing/Conversion/Continuation
Notice” is defined in Section 2.8
hereof.

       

      “British
Pounds Sterling”
means the lawful currency of Great Britain.

       

      “Business
Day” means (i) with respect to any borrowing, payment or rate selection
of Loans bearing interest at the Eurocurrency Rate, a day (other than a Saturday
or Sunday) on which banks are open for business in Chicago, Illinois and New
York, New York and on which dealings in Dollars and the other Agreed Currencies
are carried on in the London interbank market and (ii) for all other purposes a
day (other than a Saturday or Sunday) on which banks are open for business in
Chicago, Illinois and New York, New York.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      “Canadian
Dollars” means
the lawful currency of Canada.

       

      “Capital
Expenditures” means, for any period, the aggregate of all expenditures
(whether or not paid in cash and including Capitalized Leases and purchase money
indebtedness) by the Borrower and its consolidated Subsidiaries during that
period that, in conformity with Agreement Accounting Principles, are required to
be included in or reflected by the property, plant, equipment or similar fixed
asset accounts reflected in the consolidated balance sheet of the Borrower and
its Subsidiaries; provided, however, that the
term “Capital Expenditures” shall not include (a) expenditures made in
connection with the replacement, substitution or restoration of assets (i) to
the extent financed from insurance proceeds paid on account of the loss of or
damage to the assets being replaced or restored or (ii) with awards of
compensation arising from the taking by eminent domain or condemnation of the
assets being replaced; (b) the purchase price of equipment that is purchased
simultaneously with the trade-in of existing equipment to the extent that the
gross amount of such purchase price is reduced by the credit granted by the
seller of such equipment for the equipment being traded in at such time; (c) the
purchase of plant, property or equipment made within one year of the sale of any
asset to the extent purchased with the proceeds of such sale; (d) the portion of
the purchase price in connection with any acquisition that would otherwise be
included as additions to property, plant or equipment; and (e) expenditures made
in connection with any acquisition.

       

      “Capital
Stock” means (i) in the case of a corporation, corporate stock, (ii) in
the case of an association or business entity, any and all shares, interests,
participations, rights or other equivalents (however designated) of corporate
stock, (iii) in the case of a partnership, partnership interests (whether
general or limited) and (iv) any other interest or participation that confers on
a Person the right to receive a share of the profits and losses of, or
distributions of assets of, the issuing Person; provided, however, that
“Capital Stock” shall not include any debt securities convertible into equity
securities prior to such conversion.

       

      “Capitalized
Lease” of a Person means any lease of property by such Person as lessee
which would be capitalized on a balance sheet of such Person prepared in
accordance with Agreement Accounting Principles.

       

      “Capitalized
Lease Obligations” of a Person means the amount of the obligations of
such Person under Capitalized Leases which would be capitalized on a balance
sheet of such Person prepared in accordance with Agreement Accounting
Principles.

       

      “Cash
Equivalents” means (i) marketable direct obligations issued or
unconditionally guaranteed by the governments of the United States and backed by
the full faith and credit of the United States government; (ii) domestic and
Eurocurrency certificates of deposit and time deposits, bankers’ acceptances and
floating rate certificates of deposit issued by any commercial bank organized
under the laws of the United States, any state thereof, the District of
Columbia, any foreign bank, or its branches or agencies (fully protected against
currency fluctuations for any such deposits with a term of more than ninety (90)
days); (iii) shares of money market, mutual or similar funds having assets in
excess of $100,000,000 and the investments of which are limited to investment
grade securities (i.e., securities rated at least Baa by Moody’s Investors
Service, Inc. or at least BBB by Standard & Poor’s Ratings Group, a division
of The McGraw-Hill Companies, Inc.); and (iv) commercial paper of United States
and foreign banks and bank holding companies and their subsidiaries and United
States and foreign finance, commercial industrial or utility companies which, at
the time of acquisition, are rated A-1 (or better) by Standard & Poor’s
Ratings Group, a division of The McGraw-Hill Companies, Inc., or P-1 (or better)
by Moody’s Investors Services, Inc.; provided that the
maturities of such Cash Equivalents shall not exceed three hundred sixty-five
(365) days from the date of acquisition thereof.

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      “Cash Flow
Leverage Ratio” is defined in Section 7.4(B)
hereof.

       

      “Change”
means (i) any change after the date of this Agreement in the “Risk-Based Capital
Guidelines” (as defined below) excluding, for the avoidance of doubt, the effect
of any phasing in of such Risk-Based Capital Guidelines or any other capital
requirements passed prior to the date hereof, or (ii) any adoption of or change
in any other law, governmental or quasi-governmental rule, regulation, policy,
guideline, interpretation, or directive (whether or not having the force of law)
after the date of this Agreement and having general applicability to all banks
and financial institutions within the jurisdiction in which such Lender operates
which affects the amount of capital required or expected to be maintained by any
Lender or any Lending Installation or any corporation controlling any
Lender.

       

      “Change of
Control” means an event or series of events by which:

       

      (a) any
“person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
exchange Act of 1934), becomes the “beneficial owner” (as defined in Rules 13d-3
and 13d-5 under the Exchange Act of 1934, provided that a
Person shall be deemed to have “beneficial ownership” of all securities that
such Person has the right to acquire, whether such right is exercisable
immediately or only after the passage of time), directly or indirectly, of
thirty-five percent (35%) or more of the combined voting power of the Borrower’s
outstanding Capital Stock ordinarily having the right to vote at an election of
directors; or

       

      (b) the
majority of the board of directors of the Borrower fails to consist of
Continuing Directors; or

       

      (c) the
Borrower consolidates with or merges into another corporation or conveys,
transfers or leases all or substantially all of its property to any Person, or
any corporation consolidates with or merges into the Borrower, in either event
pursuant to a transaction in which the outstanding Capital Stock of the Borrower
is reclassified or changed into or exchanged for cash, securities or other
property; or

       

      (d) the
Borrower shall cease to own and control at least eighty percent (80%) of the
economic and voting rights associated with all of the outstanding Capital Stock
of (i) any Subsidiary Borrower or Alternate Currency Borrower and (ii) its
existing Subsidiaries as of the Closing Date.

       

      “Closing
Date” means January 12, 2010.

       

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

       

      “Collateral”
means all pledged Capital Stock, and any and all owned or leased personal
property, in or upon which a security interest or Lien is from time to time
granted to the Collateral Agent, for the benefit of the Holders of Secured
Obligations, whether under the Foreign Pledge Agreements, under the Security
Agreement, under any of the other Collateral Documents or under any of the other
Loan Documents.

       

      “Collateral
Agent” means JPMorgan in its capacity as Collateral Agent for the Holders
of Secured Obligations under the Intercreditor Agreement and any successor
Collateral Agent appointed pursuant to the terms thereof.

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

      “Collateral
Documents”  means all agreements, instruments and documents
executed in connection with this Agreement or the Existing Credit Agreement
pursuant to which the Collateral Agent is granted a security interest in
Collateral, including, without limitation, the Foreign Pledge Agreements, the
Security Agreement and all other security agreements, loan agreements, notes,
guarantees, subordination agreements, pledges, powers of attorney, consents,
assignments, contracts, fee letters, notices, leases, financing statements and
all other written matter whether heretofore, now, or hereafter executed by or on
behalf of the Borrower or any of its Subsidiaries and delivered to the
Collateral Agent or any of the Lenders, together with all agreements and
documents referred to therein or contemplated thereby.

       

      “Commission”
means the Securities and Exchange Commission of the United States of America and
any Person succeeding to the functions thereof.

       

      “Commitment
and Acceptance”  is defined in Section 2.26
hereof.

       

      “Commitment
Increase Notice” is defined in Section 2.26
hereof.

       

      “Consolidated
Net Worth” means, at a particular date, all amounts which would be
included under shareholders’ equity on the consolidated balance sheet for the
Borrower and its consolidated Subsidiaries determined in accordance with
Agreement Accounting Principles.

       

      “Consolidated
Tangible Assets” means the total assets of the Borrower and its
Subsidiaries on a consolidated basis (determined in accordance with Agreement
Accounting Principles), but excluding therefrom all items that are treated as
intangibles under Agreement Accounting Principles.

       

      “Contaminant”
means any waste, pollutant, hazardous substance, toxic substance, hazardous
waste, special waste, petroleum or petroleum-derived substance or waste,
asbestos, polychlorinated biphenyls (“PCBs”),
or any constituent of any such substance or waste, and includes but is not
limited to these terms as defined in Environmental, Health or Safety
Requirements of Law.

       

      “Contingent
Obligation”, as applied to any Person, means any Contractual Obligation,
contingent or otherwise, of that Person with respect to any Indebtedness of
another or other obligation or liability of another, including, without
limitation, any such Indebtedness, obligation or liability of another directly
or indirectly guaranteed, endorsed (otherwise than for collection or deposit in
the ordinary course of business), co-made or discounted or sold with recourse by
that Person, or in respect of which that Person is otherwise directly or
indirectly liable, including Contractual Obligations (contingent or otherwise)
arising through any agreement to purchase, repurchase, or otherwise acquire such
Indebtedness, obligation or liability or any security therefor, or to provide
funds for the payment or discharge thereof (whether in the form of loans,
advances, stock purchases, capital contributions or otherwise), or to maintain
solvency, assets, level of income, or other financial condition, or to make
payment other than for value received.  The amount of any Contingent
Obligation shall be equal to the present value of the portion of the obligation
so guaranteed or otherwise supported, in the case of known recurring
obligations, and the maximum reasonably anticipated liability in respect of the
portion of the obligation so guaranteed or otherwise supported assuming such
Person is required to perform thereunder, in all other cases.

       

      “Continuing
Director” means, with respect to any Person as of any date of
determination, any member of the board of directors of such Person who (a) was a
member of such board of directors on the date of this Agreement, or (b) was
nominated for election or elected to such board of directors with the

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

      approval
of the Continuing Directors who were members of such board at the time of such
nomination or election.

       

      “Contractual
Obligation”, as applied to any Person, means any provision of any equity
or debt securities issued by that Person or any indenture, mortgage, deed of
trust, security agreement, pledge agreement, guaranty, contract, undertaking,
agreement or instrument, in any case in writing, to which that Person is a party
or by which it or any of its properties is bound, or to which it or any of its
properties is subject.

       

      “Controlled
Group” means the group consisting of (i) any corporation which is a
member of the same controlled group of corporations (within the meaning of
Section 414(b) of the Code) as the Borrower; (ii) a partnership or
other trade or business (whether or not incorporated) which is under common
control (within the meaning of Section 414(c) of the Code) with the Borrower;
and (iii) a member of the same affiliated service group (within the meaning
of Section 414(m) of the Code) as the Borrower, any corporation described in
clause (i)
above or any partnership or trade or business described in clause (ii)
above.

       

      “Cure
Loan” is defined in Section 9.2(iii)
hereof.

       

      “Customary
Permitted Liens” means:

       

      (i) Liens
(other than Environmental Liens and Liens in favor of the IRS or the PBGC) with
respect to the payment of taxes, assessments or governmental charges in all
cases which are not yet due or (if foreclosure, distrait, sale or other similar
proceedings shall not have been commenced or any such proceeding after being
commenced is stayed) which are being contested in good faith by appropriate
proceedings properly instituted and diligently conducted and with respect to
which adequate reserves or other appropriate provisions are being maintained in
accordance with Agreement Accounting Principles;

       

      (ii)
statutory Liens of landlords and Liens of suppliers, mechanics, carriers,
materialmen, warehousemen or workmen and other similar Liens imposed by law
created in the ordinary course of business for amounts not yet due or which are
being contested in good faith by appropriate proceedings properly instituted and
diligently conducted and with respect to which adequate reserves or other
appropriate provisions are being maintained in accordance with Agreement
Accounting Principles;

       

      (iii)
Liens (other than Environmental Liens and Liens in favor of the IRS or the PBGC)
incurred or deposits made in the ordinary course of business in connection with
workers’ compensation, unemployment insurance or other types of social security
benefits or to secure the performance of bids, tenders, sales, contracts (other
than for the repayment of borrowed money), surety, appeal and performance bonds;
provided that
(A) all such Liens do not in the aggregate materially detract from the
value of the Borrower’s or such Subsidiary’s assets or property taken as a whole
or materially impair the use thereof in the operation of the businesses taken as
a whole, and (B) all Liens securing bonds to stay judgments or in
connection with appeals do not secure at any time an aggregate amount exceeding
$10,000,000;

       

      (iv)
Liens arising with respect to zoning restrictions, easements, encroachments,
licenses, reservations, covenants, rights-of-way, utility easements, building
restrictions and other similar charges, restrictions or encumbrances on the use
of real property which do not in any case materially detract from the value of
the property subject thereto or materially interfere with the

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      ordinary
use or occupancy of the real property or with the ordinary conduct of the
business of the Borrower or any of its Subsidiaries;

       

      (v) Liens
of attachment or judgment with respect to judgments, writs or warrants of
attachment, or similar process against the Borrower or any of its Subsidiaries
which do not constitute a Default under Section 8.1(H)
hereof; and

       

      (vi) any
interest or title of the lessor in the property subject to any operating lease
entered into by the Borrower or any of its Subsidiaries in the ordinary course
of business.

       

      “Default” means an event described in
Article VIII hereof.

       

      “Defaulting
Lender” means any Lender, as determined by the Agent, that has (a) failed
to fund any portion of its Loans or participations in Letters of Credit or Swing
Line Loans within three Business Days of the date required to be funded by it
hereunder, (b) notified the Borrower, the Agent, the Issuing Banks, the Swing
Line Bank or any Lender in writing that it does not intend to comply with any of
its funding obligations under this Agreement or has made a public statement to
the effect that it does not intend to comply with its funding obligations under
this Agreement or under other agreements in which it commits to extend credit,
(c) failed, within three Business Days after request by the Agent, to confirm
that it will comply with the terms of this Agreement relating to its obligations
to fund prospective Loans and participations in then outstanding Letters of
Credit and Swing Line Loans, (d) otherwise failed to pay over to the Agent or
any other Lender any other amount required to be paid by it hereunder within
three Business Days of the date when due, unless the subject of a good faith
dispute, or (e) (i) become or is insolvent or has a parent company that has
become or is insolvent or (ii) become the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee, administrator, assignee
for the benefit of creditors or similar Person charged with reorganization or
liquidation of its business or custodian, appointed for it, or has taken any
action in furtherance of, or indicating its consent to, approval of or
acquiescence in any such proceeding or appointment or has a parent company that
has become the subject of a bankruptcy or insolvency proceeding, or has had a
receiver, conservator, trustee, administrator, assignee for the benefit of
creditors or similar Person charged with reorganization or liquidation of its
business or custodian appointed for it, or has taken any action in furtherance
of, or indicating its consent to, approval of or acquiescence in any such
proceeding or appointment.

       

      “Departing
Lender” means each lender under the Existing Credit Agreement that
executes and delivers to the Agent a Departing Lender Signature
Page.

       

      “Departing
Lender Signature Page” means each signature page to this Agreement on
which it is indicated that the Departing Lender executing the same shall cease
to be a party to the Existing Credit Agreement on the Closing Date.

       

      “Disqualified
Stock” means any Capital Stock that, by its terms (or by the terms of any
security into which it is convertible or for which it is exchangeable), or upon
the happening of any event, matures or is mandatorily redeemable, pursuant to a
sinking fund obligation or otherwise, or redeemable at the option of the holder
thereof, in whole or in part, on or prior to the date that is ninety-one (91)
days after the Revolving Loan Termination Date.

       

      “DOL”
means the United States Department of Labor and any Person succeeding to the
functions thereof.

       

      “Dollar”
and “$”
means dollars in the lawful currency of the United States of
America.

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      “Dollar
Amount” of any currency at any date shall mean (i) the amount of such
currency if such currency is Dollars or (ii) the Equivalent Amount of Dollars if
such currency is any currency other than Dollars.

       

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

       

      “Domestic
Loan Parties” means the Borrower and
the Domestic Incorporated Subsidiaries.

       

      “Domestic
Subsidiary Borrower” means a Subsidiary Borrower that is a Domestic
Incorporated Subsidiary.

       

      “Dutch
Pledge” is defined in Section 11.12
hereof.

       

      “EBITDA”
means, for any period, on a consolidated basis for the Borrower and its
Subsidiaries, the sum of the amounts for such period, without duplication, of
(i) Net Income, plus (ii) Interest
Expense to the extent deducted in computing Net Income, plus (iii) charges
against income for foreign, federal, state and local taxes to the extent
deducted in computing Net Income, plus (iv)
depreciation expense to the extent deducted in computing Net Income, plus (v) amortization
expense, including, without limitation, amortization of goodwill and other
intangible assets to the extent deducted in computing Net Income, plus (vi)
acquisition, integration, transformation and restructuring charges incurred in
the first three fiscal quarters of the Borrower’s 2009 fiscal year and in an
aggregate amount not to exceed $3,000,000, all in accordance with Agreement
Accounting Principles to the extent deducted in computing Net Income, plus (vii) other
extraordinary non-cash charges to the extent deducted in computing Net Income,
minus (viii)
other extraordinary non-cash credits to the extent added in computing Net
Income, plus
(ix) non-cash expenses related to stock based compensation to the extent
deducted in computing Net Income, plus (x) charges
incurred as a result of impairment of fixed assets, intangible assets and
goodwill, all to the extent deducted in computing Net Income.  EBITDA
shall be calculated on a pro forma basis giving
effect to Acquisitions and Asset Sales on a last twelve (12) months’
basis.

       

      “Eligible
Currency” means any currency other than Dollars with respect to which the
Agent or the Borrower has not given notice in accordance with Section 2.23 and that
is readily available, freely traded, in which deposits are customarily offered
to banks in the London interbank market, convertible into Dollars in the
international interbank market available to the Lenders in such market and as to
which an Equivalent Amount may be readily calculated.  If, after the
designation by the Lenders of any currency as an Agreed Currency or Alternate
Currency, currency control or other exchange regulations are imposed in the
country in which such currency is issued with the result that different types of
such currency are introduced, such country’s currency is, in the determination
of the Agent, no longer readily available or freely traded or (ii) as to which,
in the determination of the Agent, an Equivalent Amount is not readily
calculable (each of clause (i) and (ii), a “Disqualifying
Event”), then the
Agent shall promptly notify the Lenders and the Borrower, and such country’s
currency shall no longer be an Agreed Currency or Alternate Currency until such
time as the Disqualifying Event(s) no longer exist, but in any event within five
(5) Business Days of receipt of such notice from the Agent, the Borrower shall
repay all Loans in such currency to which the Disqualifying Event applies or
convert such Loan into Loans in Dollars or another Agreed Currency or Alternate
Currency, subject to the other terms contained in Articles II and IV.

       

      “Environmental,
Health or Safety Requirements of Law” means all Requirements of
Law derived from or relating to foreign, federal, state and local laws or
regulations relating to or addressing pollution or protection of the
environment, or protection of worker health or safety, including, but not
limited to, the Comprehensive Environmental Response, Compensation and Liability
Act, 42 U.S.C. 

       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

       

      § 9601
et seq., the
Occupational Safety and Health Act of 1970, 29 U.S.C. § 651 et seq., and the
Resource Conservation and Recovery Act of 1976, 42 U.S.C. § 6901 et seq., in each case
including any amendments thereto, any successor statutes, and any regulations or
guidance promulgated thereunder, and any state or local equivalent
thereof.

       

      “Environmental
Lien” means a lien in favor of any Governmental Authority for (a) any
liability under Environmental, Health or Safety Requirements of Law, or (b)
damages arising from, or costs incurred by such Governmental Authority in
response to, a Release or threatened Release of a Contaminant into the
environment.

       

      “Environmental
Property Transfer Act” means any applicable requirement of law that
conditions, restricts, prohibits or requires any notification or disclosure
triggered by the closure of any property or the transfer, sale or lease of any
property or deed or title for any property for environmental reasons, including,
but not limited to, any so-called “Industrial Site Recovery Act” or “Responsible
Property Transfer Act.”

       

      “Equipment”
means all of the Borrower’s present and future (i) equipment, including,
without limitation, machinery, manufacturing, distribution, selling, data
processing and office equipment, assembly systems, tools, molds, dies, fixtures,
appliances, furniture, furnishings, vehicles, vessels, aircraft, aircraft
engines, and trade fixtures, (ii) other tangible personal property (other
than the Borrower’s Inventory), and (iii) any and all accessions, parts and
appurtenances attached to any of the foregoing or used in connection therewith,
and any substitutions therefor and replacements, products and proceeds
thereof.

       

      “Equity
Interests” means Capital Stock and all warrants, options or other rights
to acquire Capital Stock (but excluding any debt security that is convertible
into, or exchangeable for, Capital Stock).  Equity Interests will not
include any Incentive Arrangements or obligations or payments
thereunder.

       

      “Equivalent
Amount” of any currency with respect to any amount of Dollars at any date
shall mean the equivalent in such currency of such amount of Dollars, calculated
on the basis of the arithmetic mean of the buy and sell spot rates of exchange
of the Agent or Alternate Currency Bank, as applicable, in the London interbank
market (or other market where the Agent’s or Alternate Currency Bank’s, as
applicable, foreign exchange operations in respect of such currency are then
being conducted) for such other currency at or about 11:00 a.m. (local time) two
(2) Business Days prior to the date on which such amount is to be determined,
rounded up to the nearest amount of such currency as determined by the Alternate
Currency Bank from time to time; provided, however, that if at
the time of any such determination, for any reason, no such spot rate is being
quoted, the Agent or Alternate Currency Bank’s, as applicable, may use any
reasonable method it deems appropriate to determine such amount, and such
determination shall be conclusive absent manifest error.

       

      “ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time
to time including (unless the context otherwise requires) any rules or
regulations promulgated thereunder.

       

      “Euro”
means the Euro referred to in the Council Regulation (EC) No. 1103/97 dated 17
June 1997 passed by the Council of the European Union, or, if different, the
then lawful currency of the member states of the European Union that participate
in the third stage of the Economic and Monetary Union.

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

      “Eurocurrency
Base Rate” means, with respect to a Eurocurrency Rate Advance for the
relevant Interest Period, the applicable British Bankers’ Association LIBOR rate
for deposits in the applicable Agreed Currency as reported by any generally
recognized financial information service as of 11:00 a.m. (London time) two (2)
Business Days prior to (or, in the case of Loans denominated in British Pounds
Sterling, on the day of) the first day of such Interest Period, and having a
maturity equal to such Interest Period, adjusted for Reserves plus, without
duplication, Mandatory Cost; provided that, if no
such British Bankers’ Association LIBOR rate is available to the Agent, the
applicable Eurocurrency Base Rate for the relevant Interest Period shall instead
be the rate determined by the Agent to be the rate at which JPMorgan or one of
its affiliate banks offers to place deposits in such Agreed Currency with
first-class banks in the London interbank market at approximately 11:00 a.m.
(London time) two (2) Business Days prior to (or, in the case of Loans
denominated in British Pounds Sterling, on the day of) the first day of such
Interest Period, in the approximate amount of JPMorgan's relevant Eurocurrency
Rate Loan and having a maturity equal to such Interest Period, as adjusted for
Reserves plus,
without duplication, Mandatory Cost.

       

      “Eurocurrency
Payment Office” of the Agent shall mean, for each of the Agreed
Currencies, any agency, branch or Affiliate of the Agent, specified as the
“Eurocurrency Payment Office” for such Agreed Currency in Exhibit A-1 hereto or
such other agency, branch, Affiliate or correspondence bank of the Agent, as it
may from time to time specify to the Borrower and each Lender as its
Eurocurrency Payment Office.

       

      “Eurocurrency
Rate” means, with respect to a Eurocurrency Rate Loan for the relevant
Interest Period, the sum of (i) the Eurocurrency Base Rate applicable to such
Interest Period plus (ii) the then
Applicable Eurocurrency Margin.

       

      “Eurocurrency
Rate Advance” means an Advance which bears interest at the Eurocurrency
Rate.

       

      “Eurocurrency
Rate Loan” means a Loan made on a fully syndicated basis pursuant to
Section 2.2,
which bears interest at the Eurocurrency Rate.

       

      “Existing
Credit Agreement” means the Credit Agreement dated as of January 28, 2005
by and among the Borrower, the financial institutions from time to time party
thereto and JPMorgan, as the same has been amended, supplemented or otherwise
modified from time to time prior to the Closing Date.

       

      “Federal
Funds Effective Rate” means, for any day, an interest 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 for such day (or, if such day is not a
Business Day, for the immediately preceding Business Day) by the Federal Reserve
Bank of New York, or, if such rate is not so published for any day which is a
Business Day, the average of the quotations at approximately 10:00 a.m. (Chicago
time) on such day on such transactions received by the Agent from three Federal
funds brokers of recognized standing selected by the Agent in its sole
discretion.

       

      “Financing”
means, with respect to any Person, the issuance or sale by such Person of any
Equity Interests of such Person or any Subordinated Indebtedness.

       

      “First
Tier Foreign Subsidiary” means each Foreign
Incorporated Subsidiary with respect to which any one or more of the Borrower
and its Domestic Incorporated Subsidiaries directly owns or controls more than
50% of such Foreign Incorporated Subsidiary’s Capital Stock.

       

      
        
          
          

        

        
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      “Fixed
Charge Coverage Ratio” is defined in Section 7.4(A)
hereof.

       

      “Floating
Rate” means, for any day for any Loan, a rate per annum equal to the
Alternate Base Rate for such day, changing when and as the Alternate Base Rate
changes, plus
the then Applicable Floating Rate Margin.

       

      “Floating
Rate Advance” means an Advance which bears interest at the Floating
Rate.

       

      “Floating
Rate Loan” means a Loan, or portion thereof, which bears interest at the
Floating Rate.

       

      “Foreign
Incorporated Subsidiary” means a Subsidiary of the Borrower which is not
a Domestic Incorporated Subsidiary.

       

      “Foreign
Pledge
Agreement” means
a pledge agreement in form and substance satisfactory to the Collateral Agent
and its counsel, duly executed and delivered by the Borrower and/or any
applicable Subsidiary of the Borrower to and in favor of the Collateral Agent
(for the benefit of itself and the other Holders of Secured Obligations), as it
may from time to time be amended, restated, supplemented or otherwise modified,
with respect to 65% of the outstanding Capital Stock of the relevant Foreign
Incorporated Subsidiary in accordance with Section
7.2(L).

       

      “Foreign
Subsidiary Borrower” means a Subsidiary Borrower that is a Foreign
Incorporated Subsidiary.

       

      “Foreign
Subsidiary Investment” means the sum of (a) all intercompany loans
made on or after the Closing Date from either the Borrower or any Domestic
Incorporated Subsidiary to any Foreign Incorporated Subsidiary; (b) all
Investments made on or after the Closing Date by either the Borrower or any
Domestic Incorporated Subsidiary in any Foreign Incorporated Subsidiary; and
(c) an amount equal to the net benefit derived by the Foreign Incorporated
Subsidiaries resulting from any non-arms length transactions, or any other
transfer of assets conducted other than in the ordinary course of business,
between the Borrower and/or any Domestic Incorporated Subsidiary, on the one
hand, and such Foreign Incorporated Subsidiaries, on the other
hand.

       

      “Governmental
Acts” is defined in Section 3.10(A)
hereof.

       

      “Governmental Authority”
means any nation or government, any federal, state, local or other political
subdivision thereof and any entity exercising executive, legislative, judicial,
regulatory or administrative authority or functions of or pertaining to
government, including any authority or other quasi-governmental entity
established to perform any of such functions.

       

      “Gross
Negligence” means recklessness, or actions taken or omitted with
conscious indifference to or the complete disregard of
consequences.  Gross Negligence does not mean the absence of ordinary
care or diligence, or an inadvertent act or inadvertent failure to
act.  If the term “gross negligence” is used with respect to the Agent
or any Lender or any indemnitee in any of the other Loan Documents, it shall
have the meaning set forth herein.

       

      “Guaranty”
means each of (i) those certain Guaranties executed from time to time by each of
the Subsidiary Guarantors in favor of the Agent for the benefit of itself and
the Holders of Obligations, in each case, as amended, restated, supplemented or
otherwise modified from time to time, in substantially the form of Exhibit I attached
hereto and (ii) the Borrower Guarantee.

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

       

      “Hedging
Agreements” is defined in Section 7.3(P)
hereof.

       

      “Hedging
Obligations” of a Person means any and all obligations of such Person,
whether absolute or contingent and howsoever and whensoever created, arising,
evidenced or acquired (including all renewals, extensions and modifications
thereof and substitutions therefor), under (i) any and all agreements, devices
or arrangements designed to protect at least one of the parties thereto from the
fluctuations of interest rates, commodity prices, exchange rates or forward
rates applicable to such party’s assets, liabilities or exchange transactions,
including, but not limited to, dollar-denominated or cross-currency interest
rate exchange agreements, forward currency exchange agreements, interest rate
cap or collar protection agreements, forward rate currency or interest rate
options, puts and warrants, and (ii) any and all cancellations, buy backs,
reversals, terminations or assignments of any of the foregoing.

       

      “Holders
of Note Obligations” means the holders of the Note Obligations from time
to time and shall include their respective successors, transferees and
assigns.

       

      “Holders
of Obligations” means the holders of the Obligations from time to time
and shall include their respective successors, transferees and
assigns.

       

      “Holders
of Secured Obligations” means the holders of the Secured
Obligations.

       

      “Incentive
Arrangements” means any stock appreciation rights, “phantom” stock plans,
employment agreements, non-competition agreements, subscription and stockholders
agreements and other incentive and bonus plans and similar arrangements made in
connection with the retention of executives, officers or employees of the
Borrower.

       

      “Indebtedness”
of a Person means, without duplication, such Person’s (i) obligations for
borrowed money, including, without limitation, subordinated indebtedness, (ii)
obligations representing the deferred purchase price of property or services
(other than accounts payable arising in the ordinary course of such Person’s
business payable on terms customary in the trade and other than earn-outs or
other similar forms of contingent purchase prices), (iii) obligations, whether
or not assumed, secured by liens on or payable out of the proceeds or production
from property now or hereafter owned or acquired by such Person, (iv)
obligations which are evidenced by notes, acceptances, or other instruments, (v)
Capitalized Lease Obligations, (vi) outstanding principal balances (representing
securitized but unliquidated assets) under asset securitization agreements
(including, without limitation, the outstanding principal balance of accounts
receivable under receivables transactions) and (vii) the implied debt component
of synthetic leases of which such Person is lessee or any other off-balance
sheet financing arrangements (including, without limitation, any such
arrangements giving rise to any Off-Balance Sheet Liabilities).

       

      “Indemnified
Matters”  is defined in Section 10.7(B)
hereof.

       

      “Indemnitees”
is defined in Section
10.7(B) hereof.

       

      “Intercreditor
Agreement” means the intercreditor agreement entered into by the Agent,
the Collateral Agent and the Holders of Note Obligations in connection with this
Agreement and the Note Documents, as the same may be amended, restated,
supplemented or otherwise modified from time to time.

       

      “Interest
Expense” means, for any period, the total interest expense of the
Borrower and its consolidated Subsidiaries, whether paid or accrued (including
the interest component of Capitalized 

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

       

      Leases,
commitment fees and fees for stand-by letters of credit, the discount with
respect to asset securitization agreements and the implied interest component of
synthetic leases), all as determined in conformity with Agreement Accounting
Principles.  Interest Expense shall not include any interest which in
accordance with Agreement Accounting Principals has been capitalized under the
PIK Notes.

       

      “Interest
Period” means, (i) any Alternate Currency Interest Period and (ii) with
respect to a Eurocurrency Rate Loan, a period of one (1) or two (2) weeks or one
(1), two (2), three (3) months, six (6) or nine (9) months, and, to
the extent available to all of the Lenders, upon request of the Borrower, and
only if the Lenders, in their discretion, shall agree, twelve (12) months,
commencing on a Business Day selected by the Borrower on which a Eurocurrency
Rate Advance is made to the Borrower pursuant to this Agreement.  Such
Interest Period shall end on (but exclude) the day which corresponds numerically
to such date one, two, three or six months and, if applicable, twelve months
thereafter; provided, however, that if
there is no such numerically corresponding day in such next, second, third or
sixth and, if applicable, twelfth succeeding month and, if applicable, twelfth
succeeding month, such Interest Period shall end on the last Business Day of
such next, second, third or sixth succeeding month.  If an Interest
Period would otherwise end on a day which is not a Business Day, such Interest
Period shall end on the next succeeding Business Day, provided, however, that if said
next succeeding Business Day falls in a new calendar month, such Interest Period
shall end on the immediately preceding Business Day.

       

      “Inventory”
shall mean any and all goods, including, without limitation, goods in transit,
wheresoever located, whether now owned or hereafter acquired by the Borrower or
any of its Subsidiaries, which are held for sale or lease, furnished under any
contract of service or held as raw materials, work in process or supplies, and
all materials used or consumed in the business of Borrower or any of its
Subsidiaries, and shall include all right, title and interest of the Borrower or
any of its Subsidiaries in any property the sale or other disposition of which
has given rise to Receivables and which has been returned to or repossessed or
stopped in transit by the Borrower or any of its Subsidiaries.

       

      “Investment”
means, with respect to any Person, (i) any purchase or other acquisition by
that Person of any Indebtedness, Equity Interests or other securities, or of a
beneficial interest in any Indebtedness, Equity Interests or other securities,
issued by any other Person, (ii) any purchase by that Person of all or
substantially all of the assets of a business (whether of a division, branch,
unit operation, or otherwise) conducted by another Person, and (iii) any
loan, advance (other than deposits with financial institutions available for
withdrawal on demand, prepaid expenses, accounts receivable, advances to
employees and similar items made or incurred in the ordinary course of business)
or capital contribution by that Person to any other Person, including all
Indebtedness to such Person arising from a sale of property by such Person other
than in the ordinary course of its business.

       

      “IRS”
means the Internal Revenue Service and any Person succeeding to the functions
thereof.

       

      “Issuing
Banks” means JPMorgan or any of its Affiliates in its separate capacity
as an issuer of Letters of Credit pursuant to Section
3.1.  The designation of any Lender as an Issuing Bank after
the date hereof shall be subject to the prior written consent of the
Agent.

       

      “JPMorgan”
means JPMorgan Chase Bank, N.A., a national banking association, in its
individual capacity, and its successors.

       

      “Last
Twelve-Month Period” is defined in Section 7.4(A)
hereof.

       

      “L/C
Documents” is defined in Section 3.4
hereof.

       

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

       

      “L/C
Draft” means a draft drawn on an Issuing Bank pursuant to a Letter of
Credit.

       

      “L/C
Interest” shall have the meaning ascribed to such term in Section 3.6
hereof.

       

      “L/C
Obligations” means, without duplication, an amount equal to the sum of
(i) the aggregate of the Dollar Amount then available for drawing under each of
the Letters of Credit, (ii) the Dollar Amount equal to the face amount of all
outstanding L/C Drafts corresponding to the Letters of Credit, which L/C Drafts
have been accepted by the applicable Issuing Bank, (iii) the aggregate
outstanding Dollar Amount of all Reimbursement Obligations at such time and (iv)
the aggregate Dollar Amount equal to the face amount of all Letters of Credit
requested by the Borrower but not yet issued (unless the request for an unissued
Letter of Credit has been denied).

       

      “Lenders”
means the lending institutions (other than the Departing Lenders) listed on the
signature pages of this Agreement and their respective successors and
assigns.

       

      “Lending
Installation” means, with respect to a Lender or the Agent, any office,
branch, subsidiary or affiliate of such Lender or the Agent.

       

      “Letter of
Credit” means the letters of credit to be (a) issued by the Issuing Banks
pursuant to Section
3.1 hereof or (b) deemed issued by the Issuing Banks pursuant to Section 3.2
hereof.

       

      “Lien”
means any lien (statutory or other), mortgage, pledge, hypothecation,
assignment, deposit arrangement, encumbrance or preference, priority or security
agreement or preferential arrangement of any kind or nature whatsoever
(including, without limitation, the interest of a vendor or lessor under any
conditional sale, Capitalized Lease or other title retention
agreement).

       

      “Loan(s)”
means, with respect to a Lender, such Lender’s portion of any Advance made
pursuant to Section
2.2 hereof, as applicable, and in the case of the Swing Line Bank, any
Swing Line Loan made pursuant to Section 2.3 hereof,
and in the case of any Alternate Currency Loan, any Alternate Currency Loan made
pursuant to Section
2.21 and the applicable Alternate Currency Addendum, and collectively,
all Revolving Loans, Swing Line Loans and Alternate Currency Loans.

       

      “Loan
Account” is defined in Section 2.13(A)
hereof.

       

      “Loan
Documents” means this Agreement, each Assumption Letter, each Alternate
Currency Addendum, each Collateral Document, each Guaranty, the Intercreditor
Agreement and all other documents, instruments, notes and agreements executed in
connection therewith or contemplated thereby or in connection with or
contemplated by the Existing Credit Agreement, as the same may be amended,
restated or otherwise modified and in effect from time to time.

       

      “Mandatory
Cost” is described in Schedule I to this
Agreement.

       

      “Margin
Stock” shall have the meaning ascribed to such term in Regulation
U.

       

      “Material
Adverse Effect” means a material adverse effect upon (a) the
business, condition (financial or otherwise), operations, performance,
properties or prospects of the Borrower, or the Borrower and its Subsidiaries,
taken as a whole, (b) the collective ability of the Borrower or any of its
Subsidiaries to perform their respective obligations under the Loan Documents in
any material respect, or (c) the ability of the Lenders or any Agent to
enforce in any material respect the Obligations.

       

      
        
          
          

        

        
          17

          
            

          

        

        
          
          

        

      

       

      “Material
Foreign Subsidiary” means any Foreign Incorporated Subsidiary (i) which,
as of the most recent fiscal quarter of the Borrower for the period of four
consecutive fiscal quarters then ended, contributes greater than five percent
(5%) of EBITDA for such period or (ii) the consolidated total assets of which as
of the end of such fiscal quarter were greater than five percent (5%) of the
Borrower’s Consolidated Tangible Assets as of such date; provided that, if at
any time the aggregate amount of EBITDA contributed by, or consolidated total
assets of, all Foreign Incorporated Subsidiaries that are not Material Foreign
Subsidiaries exceeds ten percent (10%) of EBITDA for any such period or ten
percent (10%) of the Borrower’s Consolidated Tangible Assets as of the end of
any such fiscal quarter, the Borrower (or, in the event the Borrower has failed
to do so within ten days, the Agent) shall designate sufficient Foreign
Incorporated Subsidiaries as “Material Foreign Subsidiaries” to eliminate such
excess, and such designated Foreign Incorporated Subsidiaries shall for all
purposes of this Agreement constitute Material Foreign
Subsidiaries.

       

      “Maximum
Acquisition Amount” means, for any rolling period of twelve consecutive
months, $50,000,000.

       

      “Maximum
Canadian Amount” mans $10,000,000 or such other greater amount as the
Borrower may from time to time designate in writing to the Agent provided such
designated amount shall be agreed to by the Required Lenders.

       

      “Maximum
Eurocurrency Amount” means $30,000,000 or such other greater amount as
the Borrower may from time to time designate in writing to the Agent provided
such designated amount shall be agreed to by the Required Lenders.

       

      “Maximum
L/C Amount” means $10,000,000 or such other greater amount as the
Borrower may from time to time designate in writing to the Agent provided such
designated amount shall be agreed to by the Required Lenders.

       

      “Measurement
Period” is defined in Section 7.4(A)
hereof.

       

      “Miramar”
means Miramar Equipment, Inc., a California corporation.

       

      “Multiemployer
Plan” means a “Multiemployer Plan” as defined in Section 4001(a)(3)
of ERISA which is, or within the immediately preceding six (6) years was,
contributed to by either the Borrower or any member of the Controlled
Group.

       

      “Net Cash
Proceeds” means, with respect to any Asset Sale or Financing by any
Person,  (a) cash or Cash Equivalents (freely convertible into
Dollars) received by such Person or any Subsidiary of such Person from such
Asset Sale (including cash received as consideration for the assumption or
incurrence of liabilities incurred in connection with or in anticipation of such
Asset Sale) or Financing, after (i) provision for all income or other taxes
measured by or resulting from such Asset Sale or Financing, (ii) payment of all
brokerage commissions and other fees and expenses and commissions related to
such Asset Sale or Financing, (iii) repayment of Indebtedness (and any
premium or penalty thereon) secured by a Lien on any asset disposed of in such
Asset Sale or which is or may be required (by the express terms of the
instrument governing such Indebtedness or by applicable law) to be repaid in
connection with such Asset Sale (including payments made to obtain or avoid the
need for the consent of any holder of such Indebtedness), and (iv) deduction of
appropriate amounts to be provided by such Person or a Subsidiary of such Person
as a reserve, in accordance with Agreement Accounting Principles, against any
liabilities associated with the assets sold or disposed of in such Asset Sale
and retained by such Person or a Subsidiary of such Person after such Asset
Sale, including, without limitation, pension 

       

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

       

      and other
post-employment benefit liabilities and liabilities related to environmental
matters or against any indemnification obligations associated with the assets
sold or disposed of in such Asset Sale; and (b) cash or Cash Equivalents
payments in respect of any other consideration received by such Person or any
Subsidiary of such Person from such Asset Sale or Financing upon receipt of such
cash payments by such Person or such Subsidiary.

       

      “Net
Income” means, for any period, the net income (or loss) after taxes of
the Borrower and its Subsidiaries on a consolidated basis for such period taken
as a single accounting period determined in conformity with Agreement Accounting
Principles.

       

      “Non Pro
Rata Loan” is defined in Section 9.2
hereof.

       

      “Note
Documents” means (i) (A) the Note Purchase Agreement dated as of December
23, 2003 between the Borrower and the purchasers named therein, as amended from
time to time and (B) the Senior Notes issued thereunder and (ii) (A) the Note
Purchase and Private Shelf Agreement dated as of January 28, 2005 between the
Borrower and the purchasers named therein, as amended from time to time and (B)
the Senior Notes and Shelf Notes issued thereunder.

       

      “Note
Obligations” means the Indebtedness and other obligations of the Borrower
and its Subsidiaries under the Note Documents.

       

      “Obligations”
means all Loans, L/C Obligations, advances, debts, liabilities, obligations,
covenants and duties owing by the Borrowers or any of their Subsidiaries to the
Agents, any Lender, the Swing Line Bank, the Arranger, any Affiliate of the
Agents or any Lender, any Issuing Bank or any Indemnitee, of any kind or nature,
present or future, arising under this Agreement, the L/C Documents, any
Alternate Currency Addendum or any other Loan Document, whether or not evidenced
by any note, guaranty or other instrument, whether or not for the payment of
money, whether arising by reason of an extension of credit, loan, guaranty,
indemnification, or in any other manner, whether direct or indirect (including
those acquired by assignment), absolute or contingent, due or to become due, now
existing or hereafter arising and however acquired.  The term
includes, without limitation, all interest, charges, expenses, fees, reasonable
attorneys’ fees and disbursements, reasonable paralegals’ fees (in each case
whether or not allowed), and any other sum chargeable to the Borrower or any of
its Subsidiaries under this Agreement or any other Loan Document.

       

      “Off-Balance
Sheet Liabilities” of a Person means (a) any repurchase obligation or
liability of such Person or any of its Subsidiaries with respect to accounts or
notes receivable sold by such Person or any of its Subsidiaries, (b) any
liability of such Person or any of its Subsidiaries under any sale and leaseback
transactions which do not create a liability on the consolidated balance sheet
of such Person, (c) any liability of such Person or any of its Subsidiaries
under any financing lease or so-called “synthetic” lease transaction, or (d) any
obligations of such Person or any of its Subsidiaries arising with respect to
any other transaction which is the functional equivalent of or takes the place
of borrowing but which does not constitute a liability on the consolidated
balance sheets of such Person and its Subsidiaries.

       

      “Other
Taxes” is defined in Section 2.15(E)(ii)
hereof.

       

      “Parallel
Debt” is defined in Section 11.12
hereof.

       

      “Participants”
is defined in Section
13.2(A) hereof.

       

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

       

      “Payment
Date” means the last Business Day of each March, June, September and
December and the Revolving Loan Termination Date.

       

      “PBGC”
means the Pension Benefit Guaranty Corporation, or any successor
thereto.

       

      “Permitted
Acquisition” is defined in Section 7.3(G)
hereof.

       

      “Permitted Existing Contingent
Obligations” means the Contingent Obligations of the Borrower and its
Subsidiaries identified as such on Schedule 1.1.4 to
this Agreement.

       

      “Permitted Existing Indebtedness”
means the Indebtedness of the Borrower and its Subsidiaries identified as such
on Schedule
1.1.1 to this Agreement.

       

      “Permitted
Existing Investments” means the Investments of the Borrower and its
Subsidiaries identified as such on Schedule 1.1.2
to this Agreement.

       

      “Permitted Existing Liens”
means the Liens on assets of the Borrower and its Subsidiaries identified as
such on Schedule
1.1.3 to this Agreement.

       

      “Permitted
Foreign Subsidiary Investment Amount” means $120,000,000.

       

      “Permitted
Private Placement” means the transactions pursuant to which the Borrower
has incurred, or has the right to incur, certain privately placed Indebtedness
pursuant to the Note Documents.

       

      “Permitted
Purchase Money Indebtedness” is defined in Section 7.3(A)(vii)
hereof.

       

      “Permitted
Refinancing Indebtedness” means any replacement, renewal, refinancing or
extension of any Indebtedness permitted by this Agreement that (i) does not
exceed the aggregate principal amount (plus accrued interest and any applicable
premium and associated fees and expenses) of the Indebtedness being replaced,
renewed, refinanced or extended, (ii) does not have a Weighted Average Life to
Maturity at the time of such replacement, renewal, refinancing or extension that
is less than the Weighted Average Life to Maturity of the Indebtedness being
replaced, renewed, refinanced or extended, (iii) does not rank at the time of
such replacement, renewal, refinancing or extension senior to the Indebtedness
being replaced, renewed, refinanced or extended, and (iv) does not contain terms
(including, without limitation, terms relating to security, amortization,
interest rate, premiums, fees, covenants, event of default and remedies)
materially less favorable to the Borrower or to the Lenders than those
applicable to the Indebtedness being replaced, renewed, refinanced or
extended.

       

      “Person”
means any individual, corporation, firm, enterprise, partnership, trust,
incorporated or unincorporated association, joint venture, joint stock company,
limited liability company or other entity of any kind, or any government or
political subdivision or any agency, department or instrumentality
thereof.

       

      “PIK
Notes” is defined in the Intercreditor Agreement.

       

      “Plan”
means an employee benefit plan defined in Section 3(3) of ERISA, other than a
Multiemployer Plan, in respect of which the Borrower or any member of the
Controlled Group is, or within the immediately preceding six (6) years was, an
“employer” as defined in Section 3(5) of ERISA.

       

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

       

      “Prime
Rate” means the rate of interest per annum publicly announced from time
to time by JPMorgan as its prime rate in effect at its principal office; each
change in the Prime Rate shall be effective from and including the date such
change is publicly announced as being effective.

       

      “Pro Rata
Share” means, with respect to any Lender, the percentage obtained by
dividing (x) such Lender’s Revolving Loan Commitment at such time (in each case,
as adjusted from time to time in accordance with the provisions of this
Agreement) by (y) the Aggregate Revolving Loan Commitment at such time;
provided, however, if all of
the Revolving Loan Commitments are terminated pursuant to the terms of this
Agreement, then “Pro Rata Share” means the percentage obtained by dividing
(x) the sum of (A) such Lender’s Revolving Loans, plus (B) such
Lender’s share of the obligations to purchase participations in Swing Line
Loans, Alternate Currency Loans and Letters of Credit, by (y) the sum of (A) the
aggregate outstanding amount of all Revolving Loans, plus (B) the
aggregate outstanding amount of all Swing Line Loans, all Alternate Currency
Loans and all Letters of Credit.

       

      “Proposed
New Lender” is defined in Section 2.26
hereof.

       

      “Purchasers”
is defined in Section
13.3(A) hereof.

       

      “Rate
Option” means the Eurocurrency Rate or the Floating Rate or the Alternate
Currency Rate, as applicable.

       

      “Receivable(s)”
means and includes all of the Borrower’s presently existing and hereafter
arising or acquired accounts, accounts receivable, and all present and future
rights of the Borrower to payment for goods sold or leased or for services
rendered (except those evidenced by instruments or chattel paper), whether or
not they have been earned by performance, and all rights in any merchandise or
goods which any of the same may represent, and all rights, title, security and
guaranties with respect to each of the foregoing, including, without limitation,
any right of stoppage in transit.

       

      “Register”
is defined in Section
13.3(D) hereof.

       

      “Regulation
T” means Regulation T of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor or other regulation or
official interpretation of said Board of Governors relating to the extension of
credit by and to brokers and dealers of securities for the purpose of purchasing
or carrying margin stock (as defined therein).

       

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

       

      “Regulation
X” means Regulation X of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor or other regulation or
official interpretation of said Board of Governors relating to the extension of
credit by foreign lenders for the purpose of purchasing or carrying margin stock
(as defined therein).

       

      “Reimbursement
Obligation” is defined in Section 3.7
hereof.

       

      
        
          
          

        

        
          21

          
            

          

        

        
          
          

        

      

       

      “Release” means any release, spill,
emission, leaking, pumping, injection, deposit, disposal, discharge, dispersal,
leaching or migration into the indoor or outdoor environment, including the
movement of Contaminants through or in the air, soil, surface water or
groundwater.

       

      “Replacement
Lender” is defined in Section 2.20
hereof.

       

      “Reportable
Event” means a reportable event as defined in Section 4043 of ERISA and
the regulations issued under such section, with respect to a Plan, excluding,
however, such events as to which the PBGC by regulation waived the requirement
of Section 4043(a) of ERISA that it be notified within thirty (30) days after
such event occurs, provided, however, that a
failure to meet the minimum funding standards of Section 412 of the Code and of
Section 302 of ERISA shall be a Reportable Event regardless of the issuance of
any such waiver of the notice requirement in accordance with either Section
4043(a) of ERISA or Section 412(d) of the Code.

       

      “Report”
means reports prepared by either Agent or another Person showing the results of
appraisals, field examinations or audits pertaining to the assets of the
Borrower or any Subsidiary from information furnished by or on behalf of the
Borrower or any of its Subsidiaries, after such Agent has exercised its rights
of inspection pursuant to this Agreement, which Reports may be distributed to
the Lenders by either Agent.

       

      “Required
Lenders” means at least three Lenders whose Pro Rata Shares, in the
aggregate, are greater than fifty percent (50%); provided, however, that, if any
of the Lenders shall have failed to fund its Pro Rata Share of (i) any Revolving
Loan requested by the Borrower, (ii) any Revolving Loan required to be made in
connection with reimbursement for any L/C Obligations, (iii) any participation
in any Alternate Currency Loan pursuant to Section 2.21(E), or
(iv) any Swing Line Loan as requested by the Agent, which such Lenders are
obligated to fund under the terms of this Agreement, and any such failure has
not been cured, then for so long as such failure continues, “Required
Lenders” means at least three Lenders (excluding all Lenders whose
failure to fund their respective Pro Rata Shares of such Revolving Loans or
Swing Line Loans or Alternate Currency Loans has not been so cured) whose Pro
Rata Shares represent greater than fifty percent (50%) of the aggregate Pro Rata
Shares of such Lenders; provided further, however, that, if the
Revolving Loan Commitments have been terminated pursuant to the terms of this
Agreement, “Required
Lenders” means at least three Lenders (without regard to such Lenders’
performance of their respective obligations hereunder) whose aggregate ratable
shares (stated as a percentage) of the aggregate outstanding principal balance
of all Loans and L/C Obligations are greater than fifty percent
(50%).

       

      “Requirements of Law”
means, as to any Person, the charter and by-laws or other organizational or
governing documents of such Person, and any law, rule or regulation, or
determination of an arbitrator or a court or other Governmental Authority, in
each case applicable to or binding upon such Person or any of its property or to
which such Person or any of its property is subject including, without
limitation, the Securities Act of 1933, the Securities Exchange Act of 1934,
Regulations T, U and X, ERISA, the Fair Labor Standards Act, the Worker
Adjustment and Retraining Notification Act, Americans with Disabilities Act of
1990, and any certificate of occupancy, zoning ordinance, building,
environmental or land use requirement or permit or environmental, labor,
employment, occupational safety or health law, rule or regulation, including
Environmental, Health or Safety Requirements of Law.

       

      “Reserves”
shall mean the maximum reserve requirement, as prescribed by the Board of
Governors of the Federal Reserve System (or any successor) with respect to
“Eurocurrency liabilities” or in respect of any other category of liabilities
which includes deposits by reference to which the interest

       

      
        
          
          

        

        
          22

          
            

          

        

        
          
          

        

      

       

      rate on
Eurocurrency Rate Loans is determined or category of extensions of credit or
other assets which includes loans by a non-United States office of any Lender to
United States residents.

       

      “Restricted Payment”
means (i) any dividend or other distribution, direct or indirect, on
account of any Equity Interests of the Borrower now or hereafter outstanding,
except a dividend payable solely in the Borrower’s Capital Stock (other than
Disqualified Stock) or in options, warrants or other rights to purchase such
Capital Stock, (ii) any redemption, retirement, purchase or other
acquisition for value, direct or indirect, of any Equity Interests of the
Borrower or any of its Subsidiaries now or hereafter outstanding, other than in
exchange for, or out of the proceeds of, the substantially concurrent sale
(other than to a Subsidiary of the Borrower) of other Equity Interests of the
Borrower (other than Disqualified Stock) or any transaction that has a
substantially similar effect, (iii) any redemption, purchase, retirement,
defeasance, prepayment or other acquisition for value, direct or indirect, of
any Indebtedness subordinated to the Obligations or any transaction that has a
substantially similar effect, and (iv) any payment of a claim for the rescission
of the purchase or sale of, or for material damages arising from the purchase or
sale of, any Indebtedness (other than the Obligations) or any Equity Interests
of the Borrower, or any of its Subsidiaries, or of a claim for reimbursement,
indemnification or contribution arising out of or related to any such claim for
damages or rescission.

       

      “Revolving
Credit Availability” means, at any particular time, the amount by which
(x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar
Amount of the Revolving Credit Obligations outstanding at such
time.

       

      “Revolving
Credit Obligations” means, at any particular time, the sum of
(i) the outstanding principal Dollar Amount of the Revolving Loans at such
time, plus (ii)
the outstanding principal amount of the Swing Line Loans at such time, plus (iii) the
outstanding L/C Obligations at such time, plus (iv) the Dollar
Amount of the outstanding principal amount of the Alternate Currency Loans at
such time.

       

      “Revolving
Loan” is defined in Section 2.2
hereof.

       

      “Revolving
Loan Commitment” means, for each Lender, the obligation of such Lender to
make Revolving Loans and to purchase participations in Letters of Credit and to
participate in Swing Line Loans and Alternate Currency Loans not exceeding the
amount set forth on Exhibit A to this
Agreement opposite its name thereon under the heading “Revolving Loan
Commitment” or the signature page of the assignment and acceptance by which it
became a Lender, as such amount may be modified from time to time pursuant to
the terms of this Agreement or to give effect to any applicable assignment and
acceptance.

       

      “Revolving
Loan Termination Date” means July 12, 2012.

       

      “Risk-Based
Capital Guidelines” means (i) the risk-based
capital guidelines in effect in the United States on the date of this Agreement,
including transition rules, and (ii) the corresponding capital regulations
promulgated by regulatory authorities outside the United States implementing the
July 1988 report of the Basle Committee on Banking Regulation and Supervisory
Practices entitled “International Convergence of Capital Measurements and
Capital Standards,” including transition rules, and any amendments to such
regulations adopted prior to the date of this Agreement.

       

      “Secured
Obligations” means (i) the Obligations, (ii) the Hedging Obligations and
Banking Services Obligations, in each case owing from time to time by the
Borrower or any Subsidiary to a Lender or an Affiliate thereof and (iii) the
Note Obligations.

       

      
        
          
          

        

        
          23

          
            

          

        

        
          
          

        

      

       

      “Securities
Act” means the Securities Act of 1933, as amended from time to
time.

       

      “Security
Agreement” means that certain Amended and Restated Pledge and Security
Agreement (including any and all supplements thereto), dated as of the Closing
Date, between the Domestic Loan Parties and the Collateral Agent, for the
benefit of the Collateral Agent and the other Holders of Secured
Obligations.

       

      “Single
Employer Plan” means a Plan maintained by the Borrower or any member of
the Controlled Group for employees of the Borrower or any member of the
Controlled Group.

       

      “Solvent”
means, when used with respect to any Person, that at the time of
determination:

       

      (i)  the
fair value of its assets (both at fair valuation and at present fair saleable
value) is equal to or in excess of the total amount of its liabilities,
including, without limitation, contingent liabilities; and

       

      (ii)  it
is then able and expects to be able to pay its debts as they mature;
and

       

      (iii)  it
has capital sufficient to carry on its business as conducted and as proposed to
be conducted.

       

      With
respect to contingent liabilities (such as litigation, guarantees and pension
plan liabilities), such liabilities shall be computed at the amount which, in
light of all the facts and circumstances existing at the time, represent the
amount which can be reasonably be expected to become an actual or matured
liability.

       

      “Subordinated
Indebtedness” of any Person means any Indebtedness of such Person the
payment of which is subordinated to the payment of the Obligations to the
written satisfaction of the Required Lenders.

       

      “Subsidiary”
of a Person means (i) any corporation more than 50% of the outstanding
securities having ordinary voting power of which shall at the time be owned or
controlled, directly or indirectly, by such Person or by one or more of its
Subsidiaries or by such Person and one or more of its Subsidiaries, or (ii) any
partnership, association, joint venture or similar business organization more
than fifty percent (50%) of the ownership interests having ordinary voting power
of which shall at the time be so owned or controlled.  Unless
otherwise expressly provided, all references herein to a “Subsidiary” means a
Subsidiary of the Borrower and shall include, without limitation, each
Subsidiary Borrower.

       

      “Subsidiary
Borrower” means each of Schawk USA Inc. and any Subsidiary of the
Borrower, whether now existing or hereafter formed, that becomes a party hereto
pursuant to an Assumption Letter and subject to the satisfaction of such other
conditions set forth in Sections 2.25(B) and
5.4 of this
Agreement, together with its respective successors and assigns including a
debtor-in-possession on behalf of such Subsidiary Borrower.

       

      “Subsidiary
Guarantor” means each Subsidiary (other than any Foreign Incorporated
Subsidiary to the extent that the designation of such Foreign Incorporated
Subsidiary as a Subsidiary Guarantor would (a) be prohibited by applicable law
or (b) cause such Foreign Incorporated Subsidiary’s accumulated earnings and
profits to be repatriated to the Borrower or such Foreign Incorporated
Subsidiary’s parent Domestic Incorporated Subsidiary, in each case under Section
956 of the Code (each such Foreign Incorporated Subsidiary, an “Affected Foreign
Subsidiary”)).  The Subsidiary Guarantors on the Closing Date
are identified in Schedule 6.8
hereto.

       

      
        
          
          

        

        
          24

          
            

          

        

        
          
          

        

      

       

      “Swing
Line Bank” means JPMorgan or any other Lender as a successor Swing Line
Bank pursuant to the terms hereof.

       

      “Swing
Line Commitment” means the obligation of the Swing Line Bank to make
Swing Line Loans up to a maximum principal amount of $10,000,000 at any one time
outstanding.

       

      “Swing
Line Exposure” means, at any time, the aggregate principal amount of all
Swing Line Loans outstanding at such time.  The Swing Line Exposure of
any Lender at any time shall be its Pro Rata Share of the total Swing Line
Exposure at such time.

       

      “Swing
Line Loan” means a Loan made available to the Syndicated Borrowers by the
Swing Line Bank pursuant to Section 2.3 hereof
and includes any “Swing Line Loan” made pursuant to the Existing Credit
Agreement and outstanding on the Closing Date.

       

      “Syndicated
Borrowers” means, collectively, the Borrower and the Subsidiary Borrowers
and “Syndicated
Borrower” means any of the foregoing.

       

      “Taxes”
is defined in Section
2.15(E)(i) hereof.

       

      “Termination
Date” means the earlier of (a) the Revolving Loan Termination Date, and
(b) the date of termination in whole of the Aggregate Revolving Loan Commitment
pursuant to Section 2.6
hereof or the Revolving Loan Commitments pursuant to Section 9.1
hereof.

       

      “Termination
Event” means (i) a Reportable Event with respect to any Benefit Plan;
(ii) the withdrawal of the Borrower or any member of the Controlled Group from a
Benefit Plan during a plan year in which the Borrower or such Controlled Group
member was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or
the cessation of operations which results in the termination of employment of
twenty percent (20%) of Benefit Plan participants who are employees of the
Borrower or any member of the Controlled Group; (iii) the imposition of an
obligation on the Borrower or any member of the Controlled Group under Section
4041 of ERISA to provide affected parties written notice of intent to terminate
a Benefit Plan in a distress termination described in Section 4041(c) of ERISA;
(iv) the institution by the PBGC of proceedings to terminate a Benefit Plan; (v)
any event or condition which might constitute grounds under Section 4042 of
ERISA for the termination of, or the appointment of a trustee to administer, any
Benefit Plan; or (vi) the partial or complete withdrawal of the Borrower or any
member of the Controlled Group from a Multiemployer Plan.

       

      “Total
Funded Indebtedness” means, at any time, the aggregate Dollar Amount of
Indebtedness of the Borrower and its Subsidiaries which has actually been funded
and is outstanding at such time, whether or not such amount is due or payable at
such time.

       

      “Transferee”
is defined in Section
13.5 hereof.

       

      “Type”
means, with respect to any Loan, its nature as a Floating Rate Loan or a
Eurocurrency Rate Loan.

       

      “UCC”
means the Uniform Commercial Code as in effect from time to time in the State of
Illinois or any other state the laws of which are required to be applied in
connection with the issue of perfection of security interests.

       

      
        
          
          

        

        
          25

          
            

          

        

        
          
          

        

      

       

      “Unmatured
Default” means an event which, but for the lapse of time or the giving of
notice, or both, would constitute a Default.

       

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

       

      “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 fund, 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 nearest one-twelfth) that will elapse between such date and
the making of such payment, by (ii) the then outstanding principal amount of
such Indebtedness.

       

      The
foregoing definitions shall be equally applicable to both the singular and
plural forms of the defined terms.  Any accounting terms used in this
Agreement which are not specifically defined herein shall have the meanings
customarily given them in accordance with generally accepted accounting
principles in existence as of the date hereof.

       

      1.2. References.  Any
references to Subsidiaries of the Borrower set forth herein shall (i) with
respect to representations and warranties which deal with historical matters be
deemed to include the Borrower and its Subsidiaries shall not in any way be
construed as consent by the Agent or any Lender to the establishment,
maintenance or acquisition of any Subsidiary, except as may otherwise be
permitted hereunder.

       

      1.3. Supplemental
Disclosure.  At any time at the request of the Agent and at
such additional times as the Borrower determines, the Borrower shall supplement
each schedule or representation herein or in the other Loan Documents with
respect to any matter hereafter arising which, if existing or occurring at the
date of this Agreement, would have been required to be set forth or described in
such schedule or as an exception to such representation or which is necessary to
correct any information in such schedule or representation which has been
rendered inaccurate thereby.  Unless any such supplement to such
schedule or representation discloses the existence or occurrence of events,
facts or circumstances which are not prohibited by the terms of this Agreement
or any other Loan Documents, such supplement to such schedule or representation
shall not be deemed an amendment thereof unless expressly consented to in
writing by Agent and the Required Lenders, and no such amendments, except as the
same may be consented to in a writing which expressly includes a waiver, shall
be or be deemed a waiver by the Agent or any Lender of any Default disclosed
therein.

       

      1.4. Borrower Acting on Behalf of
Itself and Subsidiary Borrowers.  Whether or not expressly
provided herein, each notice or certificate delivered hereunder or in connection
herewith or the other Loan Documents by or to the Borrower or an officer
thereof, and each notice or consent requested by or from the Borrower or an
officer thereof, shall be so delivered or given to, by or on behalf of the
Borrower for the benefit of itself and the Subsidiary Borrowers.  In
furtherance and without limitation of the foregoing, the Borrower is hereby
authorized and given a power of attorney by and on behalf of each of the
Subsidiary Borrowers to perform and accept any and all such actions on its
behalf under this Agreement and the other Loan Documents.

       

      1.5. Joint and Several Liability
for Obligations of the Borrower and Domestic Subsidiary Borrowers; Joint and
Several Liability for Obligations of the Foreign Subsidiary Borrowers; No
Liability of Foreign Subsidiary Borrowers for Obligations of the Borrower or the
Domestic Subsidiary Borrowers.

       

      
        
          
          

        

        
          26

          
            

          

        

        
          
          

        

      

       

      (A) Joint and Several Liability
for Obligations of the Borrower and Domestic Subsidiary
Borrowers.  Notwithstanding anything to the contrary contained
herein, each of the Borrower and each Domestic Subsidiary Borrower jointly and
severally hereby irrevocably and unconditionally retains and accepts joint and
several liability with one another with respect to the payment and performance
of all of the Obligations arising hereunder or under the other Loan Documents
(including without limitation Reimbursement Obligations in respect of a Letter
of Credit issued for the account of a Subsidiary), it being the intention of the
parties hereto that all of such Obligations shall be the joint and several
obligations of the Borrower and the Domestic Subsidiary Borrowers without
preferences or distinction among them.  Each provision hereunder or in
the Loan Documents relating to the obligations or liabilities of the Borrower or
any Domestic Subsidiary Borrower shall be deemed to include a reference to all
such Borrowers, as joint and several obligors for such obligations and
liabilities, whether or not a specific reference to any other Borrower is
included therein.

       

      (B) Joint and Several Liability
for Obligations of the Foreign Subsidiary
Borrowers.  Notwithstanding anything to the contrary contained
herein, each of the Borrower and each Domestic Subsidiary Borrower jointly and
severally hereby irrevocably and unconditionally retains and accepts joint and
several liability with the Foreign Subsidiary Borrowers (and the Foreign
Subsidiary Borrowers retain and accept such joint and several liability with one
another) with respect to the payment and performance of all of the Obligations
of or attributable to the Foreign Subsidiary Borrowers arising hereunder or
under the other Loan Documents, it being the intention of the parties hereto
that all of such Obligations shall be the joint and several obligations of the
Borrower, each Domestic Subsidiary Borrower and each Foreign Subsidiary Borrower
without preferences or distinction among them.  Each provision
hereunder or in the Loan Documents relating to the obligations or liabilities of
any Foreign Subsidiary Borrowers shall be deemed to include a reference to the
Borrower, the Domestic Subsidiary Borrowers and any other Foreign Subsidiary
Borrower, as a joint and several obligor for such obligations and liabilities,
whether or not a specific reference to the Borrower, any Domestic Subsidiary
Borrower or such other Foreign Subsidiary Borrower is included
therein.

       

      (C) No Liability of Foreign
Subsidiary Borrowers for Obligations of the Borrower or the Domestic Subsidiary
Borrowers.  Notwithstanding anything to the contrary contained
herein and notwithstanding that the Borrower and the Domestic Subsidiary
Borrowers shall be liable for all of the Loans and other Obligations of all
Borrowers hereunder, no Foreign Subsidiary Borrower shall be liable for the
Loans made to or any other Obligations incurred solely by or on behalf of the
Borrower or any Domestic Subsidiary Borrower; provided, however, that at any
time that, and for so long as, any Foreign Subsidiary Borrower is not an
Affected Foreign Subsidiary and no other applicable law would preclude such
joint and several liability or impose financial hardship on such Foreign
Subsidiary Borrower as a result of such joint and several liability, this clause
(C) shall not apply to such Foreign Subsidiary Borrower and such Foreign
Subsidiary Borrower shall be treated as a Domestic Subsidiary Borrower for
purposes of the remaining provisions of this Section
1.5.

       

      1.6. Amendment and Restatement of
Existing Credit Agreement.  The parties to this Agreement agree
that, upon (i) the execution and delivery by each of the parties hereto of this
Agreement and (ii) satisfaction of the conditions set forth in Sections 5.1 and
5.2, the terms
and provisions of the Existing Credit Agreement shall be and hereby are amended,
superseded and restated in their entirety by the terms and provisions of this
Agreement.  This Agreement is not intended to and shall not constitute
a novation.  All Loans made and Secured Obligations incurred under the
Existing Credit Agreement which are outstanding on the Closing Date shall
continue as Loans and Secured Obligations under (and shall be governed by the
terms of) this Agreement.  Without limiting the foregoing, upon the
effectiveness hereof: 

       

      
        
          
          

        

        
          27

          
            

          

        

        
          
          

        

      

       

      (a) all
Letters of Credit issued (or deemed issued) under the Existing Credit Agreement
which remain outstanding on the Closing Date shall continue as Letters of Credit
under (and shall be governed by the terms of) this Agreement, (b) all Secured
Obligations constituting Hedging Obligations or Banking Services Obligations
with any Lender or any Affiliate of any Lender which are outstanding on the
Closing Date shall continue as Secured Obligations under this Agreement and the
other Loan Documents, (c) the Agent shall make such reallocations of each
Lender’s Pro Rata Share of the “Revolving Credit Obligations” under the Existing
Credit Agreement as are necessary in order that the Revolving Credit Obligations
with respect to such Lender hereunder reflects such Lender’s Pro Rata Share of
the Revolving Credit Obligations and (d) the Previous Revolving Loans (as
defined in Section 2.2) of each Departing Lender shall be repaid in full
(accompanied by any accrued and unpaid interest and fees thereon), each
Departing Lender’s “Revolving Loan Commitment” under the Existing Credit
Agreement shall be terminated and each Departing Lender shall not be a Lender
hereunder.

       

      ARTICLE  II:   REVOLVING LOAN
FACILITIES

       

      2.1. [Reserved].

       

      2.2. Revolving
Loans.

       

      (A) Prior to
the Closing Date, revolving loans were previously made to the Borrower under the
Existing Credit Agreement which remain outstanding as of the date of this
Agreement (such outstanding revolving loans being hereinafter referred to as the
“Previous
Revolving Loans”).  Subject to the terms and conditions set
forth in this Agreement, the Borrower and each of the Lenders agree that on the
Closing Date but subject to the satisfaction of the conditions precedent set
forth in Sections
5.1 and 5.2 (as applicable),
the Previous Revolving Loans shall be reevidenced as Revolving Loans under this
Agreement, the terms of the Previous Revolving Loans shall be restated in their
entirety and shall be evidenced by this Agreement.  Upon the
satisfaction of the conditions precedent set forth in Sections 5.1, 5.2 and
5.4, as
applicable, from and including the Closing Date and prior to the Termination
Date, each Lender severally and not jointly agrees, on the terms and conditions
set forth in this Agreement, to make revolving loans to the Syndicated Borrowers
from time to time, in Dollars or Eurocurrency Rate Loans in any Agreed Currency,
in a Dollar Amount not to exceed such Lender’s Pro Rata Share of Revolving
Credit Availability at such time (each individually, a “Revolving
Loan” and, collectively with each Previous Revolving Loan, the “Revolving
Loans”); provided, however, (1) at no
time shall the Dollar Amount of the Revolving Credit Obligations exceed the
Aggregate Revolving Loan Commitment; (2) upon giving effect to each Advance, the
aggregate outstanding principal Dollar Amount of all Eurocurrency Rate Advances
in Agreed Currencies other than Dollars and Canadian Dollars and all L/C
Obligations in Agreed Letter of Credit Currencies other than Dollars and
Canadian Dollars and all Alternate Currency Loans in Alternate Currencies other
than Canadian Dollars shall not exceed the Maximum Eurocurrency Amount at any
time prior to the Termination Date; and (3) upon giving effect to each Advance,
the aggregate outstanding principal Dollar Amount of all Alternate Currency
Loans denominated in Canadian Dollars, all Eurocurrency Rate Advances
denominated in Canadian Dollars and all L/C Obligations denominated in Canadian
Dollars shall not exceed the Maximum Canadian Amount.  Subject to the
terms of this Agreement, the Syndicated Borrowers may borrow, repay and reborrow
Revolving Loans at any time prior to the Termination Date.  The
Revolving Loans made on the Closing Date or on or before the third (3rd)
Business Day thereafter shall initially be Floating Rate Loans and thereafter
may be continued as Floating Rate Loans or converted into Eurocurrency Rate
Loans in the manner provided in Section 2.10 and
subject to the other conditions and limitations therein set forth and set forth
in this Article
II and set forth in the definition of Interest
Period.  Revolving Loans made after the third (3rd) Business Day after
the Closing Date shall be, at the option 

       

      
        
          
          

        

        
          28

          
            

          

        

        
          
          

        

      

       

      of the
Borrower, selected in accordance with Section 2.10, either
Floating Rate Loans or Eurocurrency Rate Loans.  On the Termination
Date, the Syndicated Borrowers shall repay in full the outstanding principal
balance of the Revolving Loans.  Each Advance under this Section 2.2 shall
consist of Revolving Loans made by each Lender ratably in proportion to such
Lender’s respective Pro Rata Share.  Subject to the terms and
conditions hereof, during the term of this Agreement, the Alternate Currency
Bank hereby agrees to make Alternate Currency Loans to the Alternate Currency
Borrowers pursuant to the applicable Alternate Currency Addendum as the
applicable Alternate Currency Borrower may from time to time request pursuant to
Section 2.21
and the applicable Alternate Currency Addendum.

       

      (B)  Borrowing/Conversion/Continuation
Notice.  The Borrower (on behalf of itself or any Subsidiary
Borrower) shall deliver to the Agent a Borrowing/Conversion/Continuation Notice,
signed by it, in accordance with the terms of Section
2.8.  The Agent shall promptly notify each Lender with a
Revolving Loan Commitment greater than zero of such request.

       

      (C) Making of Revolving
Loans.  Promptly after receipt of the
Borrowing/Conversion/Continuation Notice under Section 2.8 in
respect of Revolving Loans, the Agent shall notify each Lender with a Revolving
Loan Commitment greater than zero by telex or telecopy, or other similar form of
transmission, of the requested Revolving Loan.  Each Lender with a
Revolving Loan Commitment greater than zero shall make available its Revolving
Loan in accordance with the terms of Section
2.7.  The Agent will promptly make the funds so received from
the Lenders available to the applicable Syndicated Borrower at the Agent’s
office in Chicago, Illinois on the applicable Borrowing Date and shall disburse
such proceeds in accordance with the applicable Syndicated Borrower’s
disbursement instructions set forth in such Borrowing/Conversion/Continuation
Notice.  The failure of any Lender to deposit the amount described
above with the Agent on the applicable Borrowing Date shall not relieve any
other Lender of its obligations hereunder to make its Revolving Loan on such
Borrowing Date.

       

      2.3. Swing Line
Loans.

       

      (A) Amount of Swing Line
Loans.  Upon the satisfaction of the conditions precedent set
forth in Sections 5.1,
5.2 and 5.4, as applicable,
from and including the Closing Date and prior to the Termination Date, the Swing
Line Bank agrees, on the terms and conditions set forth in this Agreement, to
make swing line loans to the Borrower and the Domestic Subsidiary Borrowers from
time to time, in Dollars, in an amount not to exceed the Swing Line Commitment
(each, individually, a “Swing
Line Loan” and collectively with each Swing Line Loan issued or deemed to
be issued pursuant to the Existing Credit Agreement and outstanding on the
Closing Date, the “Swing
Line Loans”); provided, however, at no time
shall the Dollar Amount of the Revolving Credit Obligations exceed the Aggregate
Revolving Loan Commitment; and provided, further, that at no
time shall the sum of (a) the Swing Line Lender’s Pro Rata Share of the Swing
Line Loans, plus (b) the
outstanding Dollar Amount of Revolving Loans made by the Swing Line Bank
pursuant to Section
2.2, plus (c) the Swing
Line Bank’s and its Affiliates’ Pro Rata Share of the outstanding L/C
Obligations, exceed the Swing Line Bank’s Revolving Loan Commitment at such
time.  Subject to the terms of this Agreement, the Borrower and the
Domestic Subsidiary Borrowers may borrow, repay and reborrow Swing Line Loans at
any time prior to the Termination Date.

       

      (B) Borrowing/Conversion/Continuation
Notice.  The Borrower (on behalf of itself or any Subsidiary
Borrower) shall deliver to the Agent and the Swing Line Bank a
Borrowing/Conversion/Continuation Notice, signed by it, not later than
2:00 p.m. (Chicago time) on the Borrowing Date of each Swing Line Loan,
specifying (i) the applicable Borrowing Date (which 

       

      
        
          
          

        

        
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      date
shall be a Business Day and which may be the same date as the date the
Borrowing/Conversion/Continuation Notice is given), and (ii) the aggregate
amount of the requested Swing Line Loan which shall be an amount not less than
$200,000.  The Swing Line Loans shall at all times be Floating Rate
Loans.

       

      (C) Making of Swing Line
Loans.  Promptly after receipt of the Borrowing/Conversion/
Continuation Notice under Section 2.3(B) in
respect of Swing Line Loans, the Agent shall notify each Lender by telex or
telecopy, or other similar form of transmission, of the requested Swing Line
Loan.  Not later than 3:00 p.m. (Chicago time) on the applicable
Borrowing Date, the Swing Line Bank shall make available its Swing Line Loan, in
funds immediately available in Chicago to the Agent at its address specified
pursuant to Article
XIV.  The Agent will promptly make the funds so received from
the Swing Line Bank available to the Borrower or the applicable Domestic
Subsidiary Borrower on the Borrowing Date at the Agent’s aforesaid
address.

       

      (D) Repayment of Swing Line
Loans.  Each Swing Line Loan shall be paid in full by the
Borrower and the Domestic Subsidiary Borrowers on or before the fifth (5th)
Business Day after the Borrowing Date for such Swing Line Loan.  The
Borrower and the Domestic Subsidiary Borrowers may at any time pay, without
penalty or premium, all outstanding Swing Line Loans or, in a minimum amount of
$200,000 and increments of $100,000 in excess thereof, any portion of the
outstanding Swing Line Loans.  In addition, the Agent (i) may at any
time in its sole discretion with respect to any outstanding Swing Line Loan, or
(ii) shall on the fifth (5th) Business Day after the Borrowing Date of any Swing
Line Loan, require each Lender (including the Swing Line Bank) to make a
Revolving Loan in the amount of such Lender’s Pro Rata Share of such Swing Line
Loan, for the purpose of repaying such Swing Line Loan.  Not later
than 2:00 p.m. (Chicago time) on the date of any notice received pursuant to
this Section
2.3(D) if such notice is received by the Lenders on or prior to 12:00
p.m. (Chicago time) and, if such notice is received after 12:00 p.m. (Chicago
time), not later than 10:00 a.m. (Chicago time) on the next succeeding Business
Day, each Lender shall make available its required Revolving Loan or Revolving
Loans, in funds immediately available in Chicago to the Agent at its address
specified pursuant to Article
XIV.  Revolving Loans made pursuant to this Section 2.3(D) shall
initially be Floating Rate Loans and thereafter may be continued as Floating
Rate Loans or converted into Eurocurrency Rate Loans in the manner provided in
Section 2.10
and subject to the other conditions and limitations therein set forth and set
forth in this Article
II.  Unless a Lender shall have notified the Swing Line Bank,
prior to its making any Swing Line Loan, that any applicable condition precedent
set forth in Sections
5.1, 5.2 and 5.4, as applicable,
had not then been satisfied, such Lender’s obligation to make Revolving Loans
pursuant to this Section 2.3(D) to
repay Swing Line Loans shall be unconditional, continuing, irrevocable and
absolute and shall not be affected by any circumstances, including, without
limitation, (a) any set-off, counterclaim, recoupment, defense or other right
which such Lender may have against the Agent, the Swing Line Bank or any other
Person, (b) the occurrence or continuance of a Default or Unmatured Default, (c)
any adverse change in the condition (financial or otherwise) of the Borrower, or
(d) any other circumstances, happening or event whatsoever.  In the
event that any Lender fails to make payment to the Agent of any amount due under
this Section 2.3(D),
the Agent shall be entitled to receive, retain and apply against such obligation
the principal and interest otherwise payable to such Lender hereunder until the
Agent receives such payment from such Lender or such obligation is otherwise
fully satisfied.  In addition to the foregoing, if for any reason any
Lender fails to make payment to the Agent of any amount due under this Section 2.3(D), such
Lender shall be deemed, at the option of the Agent, to have unconditionally and
irrevocably purchased from the Swing Line Bank, without recourse or warranty, an
undivided interest and participation in the applicable Swing Line Loan in the
amount of such Revolving Loan, and such interest and participation may be
recovered from such 

       

      
        
          
          

        

        
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      Lender
together with interest thereon at the Federal Funds Effective Rate for each day
during the period commencing on the date of demand and ending on the date such
amount is received.  On the Termination Date, the Borrower and the
Domestic Subsidiary Borrowers shall repay in full the outstanding principal
balance of the Swing Line Loans.

       

      2.4. Rate Options for all
Advances; Maximum Interest Periods.  The Swing Line Loans shall
be Floating Rate Advances at all times.  The Revolving Loans may be
Floating Rate Advances or Eurocurrency Rate Advances, or a combination thereof,
selected by the Borrower (on behalf of itself or any Subsidiary Borrower) in
accordance with Section
2.10.  The Borrower may select, in accordance with Section 2.10, Rate
Options and Interest Periods applicable to portions of the Revolving Loans and
Alternate Currency Loans; provided that there
shall be no more than nine (9) Interest Periods in effect with respect to all of
the Loans at any time (unless otherwise provided in the applicable Alternate
Currency Addendum with respect to Alternate Currency Loans).  Each
Alternate Currency Loan shall bear interest on the outstanding principal amount
thereof, for the Interest Period applicable thereto, at the Alternate Currency
Rate as set forth in the applicable Alternate Currency Addendum.

       

      2.5. Optional Payments; Mandatory
Prepayments.

       

      (A)  Optional
Payments.  The Syndicated Borrowers may from time to time and
at any time upon at least one (1) Business Day’s prior written notice repay or
prepay, without penalty or premium all or any part of outstanding Floating Rate
Advances in an aggregate minimum amount of $1,000,000 and in integral multiples
of $100,000 in excess thereof.  Eurocurrency Rate Advances may be
voluntarily repaid or prepaid prior to the last day of the applicable Interest
Period, subject to the indemnification provisions contained in Section 4.4, provided, that no
Syndicated Borrower may so prepay Eurocurrency Rate Advances unless it shall
have provided at least five (5) Business Days’ prior written notice to the Agent
of such prepayment.  Each Alternate Currency Borrower may, upon prior
written notice to the Agent and to the Alternate Currency Bank as prescribed in
the applicable Alternate Currency Addendum and specifying that it is prepaying
all or a portion of its Alternate Currency Loans, prepay its Alternate Currency
Loans in whole at any time, or from time to time in part in amounts aggregating
$1,000,000 or any larger multiple of $100,000 (or as otherwise specified in the
applicable Alternate Currency Addendum) by paying the principal amount to be
paid together with all accrued and unpaid interest thereon to and including the
date of payment provided any such payment occurs on the last day of any Interest
Period related to such Alternate Currency Loan.

       

      (B) Mandatory Prepayments of
Revolving Loans.

       

      (i) If at any
time and for any reason (other than fluctuations in currency exchange rates) the
Dollar Amount of the Revolving Credit Obligations are greater than the Aggregate
Revolving Loan Commitment, the Borrower shall immediately make a mandatory
prepayment of the Obligations in an amount equal to such excess.  In
addition, if the Dollar Amount of the L/C Obligations (calculated as of the last
Business Day of each fiscal quarter, or, at the Agent’s option, as of the last
Business Day of each calendar month) outstanding at any time is greater than the
lesser of (A) the Aggregate Revolving Loan Commitment at such time minus the sum of the
outstanding principal Dollar Amount of the Revolving Loans at such time and the
outstanding principal amount of the Swing Line Loans at such time and the
outstanding principal Dollar Amount of the Alternate Currency Loans at such time
and (B) 105% of the Maximum L/C Amount (or the Equivalent Amount in Dollars),
the Borrower shall either repay Revolving Loans or deposit cash collateral in a
cash collateral account established with the Agent, in either case, in an amount
in Dollars equal to such excess.

       

       

      
        
          
          

        

        
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      (ii)  If
on the last Business Day of any calendar quarter, solely as a result of
fluctuations in currency exchange rates:

       

      
        	
                 
      

              	
                (w)

              	
                the
      Dollar Amount of all Loans and Letters of Credit in Canadian Dollars or in
      Agreed Currencies other than Canadian Dollars exceeds one hundred five
      percent (105%) of the Maximum Canadian Amount or the Maximum Eurocurrency
      Amount, as applicable, the Borrowers for the ratable benefit of the
      applicable Lenders shall immediately prepay Loans (to be applied to such
      Loans as such Borrower shall direct at the time of such payment) in an
      aggregate amount such that after giving effect thereto the Dollar Amount
      of all Loans and Letters of Credit in Canadian Dollars or in Agreed
      Currencies other than Canadian Dollars is less than or equal to the
      Maximum Canadian Amount or the Maximum Eurocurrency Amount, as applicable;
      or

              

      

       

      
        	
                 
      

              	
                (x)

              	
                the
      Dollar Amount of the Revolving Credit Obligations exceeds one hundred five
      percent (105%) of the Aggregate Revolving Loan Commitment, the Borrowers
      for the ratable benefit of the Lenders shall immediately prepay Loans (to
      be applied to such Loans as such Borrower shall direct at the time of such
      payment) in an aggregate amount such that after giving effect thereto the
      Dollar Amount of the Revolving Credit Obligations is less than or equal to
      the Aggregate Revolving Loan Commitment;
or

              

      

       

      
        	
                 
      

              	
                (y)

              	
                the
      Dollar Amount of all outstanding Alternate Currency Loans under the
      Alternate Currency Addenda exceeds one hundred five percent (105%) of the
      aggregate Alternate Currency Commitments with respect thereto, the
      applicable Borrowers shall on such date prepay, or cause to be prepaid,
      Alternate Currency Loans in an aggregate amount such that after giving
      effect thereto the Dollar Amount of all such Alternate Currency Loans is
      less than or equal to the aggregate Alternate Currency Commitments with
      respect thereto; or

              

      

       

      
        	
                 
      

              	
                (z)

              	
                the
      Dollar Amount of the aggregate outstanding principal amount of Alternate
      Currency Loans in the same Alternate Currency exceeds the aggregate
      Alternate Currency Commitments with respect thereto, the applicable
      Borrowers shall on such date prepay Alternate Currency Loans in such
      Alternate Currency in an aggregate amount such that after giving effect
      thereto the Dollar amount of all Alternate Currency Loans is less than or
      equal to the aggregate Alternate Currency Commitments with respect
      thereto.

              

      

       

      (iii) [Intentionally
Omitted.]

       

      (iv) [Intentionally
Omitted.]

       

      (v) All of
the mandatory prepayments made under this Section 2.5(B) shall
be applied first to Floating Rate Loans and Alternate Currency Loans bearing a
fluctuating Alternate Currency Rate and to any Eurocurrency Rate Loans and
Alternate Currency Loans bearing a fixed Alternate Currency Rate maturing on
such date and then to subsequently maturing Eurocurrency Rate Loans and
Alternate Currency Loans bearing a fixed Alternate Currency Rate in order of
maturity.  Prior to the occurrence of a Default and at the Borrower’s
option, the Agent shall hold all mandatory prepayments to be applied pursuant to
Section
2.5(B)(iii) to a Eurocurrency Rate Loan or an Alternate Currency Loan
bearing a fixed Alternate Currency Rate in escrow for the 

       

      
        
          
          

        

        
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      benefit
of the Lenders and shall release such amounts upon the expiration of the
Interest Periods applicable to any such Loans being prepaid (it being understood
and agreed that interest shall continue to accrue on all such Obligations until
such time as such prepayments are released from escrow and applied to reduce
such Obligations); provided, however,
that upon the occurrence of a Default, such escrowed amounts may be applied as
set forth in the first sentence of this Section 2.5(B)(v)
without regard to the expiration of any Interest Period and the Borrower shall
make all payments under Section 4.4 hereof
resulting therefrom.  The parties hereto acknowledge and agree that
such prepayments shall not reduce the Aggregate Revolving Loan
Commitment.

       

      2.6. Reduction of
Commitments.  The Borrower (on behalf of itself and the
Subsidiary Borrowers) may permanently reduce the Aggregate Revolving Loan
Commitment in whole, or in part ratably among the Lenders, in an aggregate
minimum amount of $5,000,000 with respect thereto and integral multiples of
$1,000,000 in excess of that amount with respect thereto (unless the Aggregate
Revolving Loan Commitment is reduced in whole), upon at least three (3) Business
Day’s prior written notice to the Agent, which notice shall specify the amount
of any such reduction; provided, however, that the
amount of the Aggregate Revolving Loan Commitment may not be reduced below the
aggregate principal Dollar Amount of the outstanding Revolving Credit
Obligations.  All accrued commitment fees shall be payable on the
effective date of any termination of the obligations of the Lenders to make
Loans hereunder.  Each Alternate Currency Borrower may, upon three (3)
Business Days prior written notice to the Agent and to the Alternate Currency
Bank, terminate entirely at any time or reduce from time to time by an aggregate
amount of $1,000,000 or any larger multiple of $100,000, (or as set forth on the
applicable Alternate Currency Addendum) the unused portions of the applicable
Alternate Currency Commitment as specified by the applicable Alternate Currency
Borrower in such notice to the Agent and the Alternate Currency Bank; provided, however, that at no
time shall the Alternate Currency Commitments be reduced to a figure less than
the total of the outstanding principal amount of all Alternate Currency
Loans.

       

      2.7. Method of
Borrowing.  Not later than 2:00 p.m. (Chicago time) (if the
Lenders receive notice of the applicable Borrowing/Conversion/Continuation
Notice on or prior to 12:00 p.m. (Chicago time) on the same day such notice is
received by the Agent and, if such notice is received by the Lenders after 12:00
p.m. (Chicago time) on such day, not later than 10:00 a.m. (Chicago time) on the
next succeeding Business Day) on each Borrowing Date, each Lender shall make
available its Revolving Loan in immediately available funds in the Agreed
Currency to the Agent at its address specified pursuant to Article XIV, unless
the Agent has notified the Lenders that such Loan is to be made available to the
applicable Syndicated Borrower at the Agent’s Eurocurrency Payment office, in
which case each Lender shall make available its Loan or Loans, in funds
immediately available to the Agent at its Eurocurrency Payment Office, not later
than 1:00 p.m. (local time in the city of the Agent’s Eurocurrency Payment
Office) in the Agreed Currency designated by the Agent.  The Agent
will promptly make the funds so received from the Lenders available to the
applicable Syndicated Borrower at the Agent’s aforesaid address.

       

      2.8. Method of Selecting Types
and Interest Periods for Advances.  The Borrower (on behalf of
itself or any applicable Subsidiary Borrower) and the Alternate Currency
Borrowers, as applicable, shall select the Type of Advance and, in the case of
each Alternate Currency Loan and Eurocurrency Rate Advance, the Interest Period,
Agreed Currency and Alternate Currency applicable to each Advance from time to
time.  The Borrower shall give the Agent irrevocable notice in
substantially the form of Exhibit B hereto (a
“Borrowing/Conversion/
Continuation Notice”) not later than 10:00 a.m. (Chicago time) (a) on or
before the Borrowing Date of each Floating Rate Advance, and (b) three (3)
Business Days before the Borrowing Date for each Eurocurrency Rate Advance to be
made in Dollars, and (c) four (4) Business 

       

      
        
          
          

        

        
          33

          
            

          

        

        
          
          

        

      

       

      Days
before the Borrowing Date for each Eurocurrency Rate Advance to be made in any
Agreed Currency other than Dollars and (d) five (5) Business Days before the
Borrowing Date for each Alternate Currency Loan (or such other period as may be
agreed to by the Agent), and the applicable Alternate Currency Borrower shall
give the Alternate Currency Bank irrevocable notice by 10:00 a.m. (local time)
three (3) Business Days prior to the Borrowing Date for such Alternate Currency
Loan (or such other period as may specified in the applicable Alternate Currency
Addendum), specifying:  (i) the Borrowing Date (which shall be a
Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii)
the Type of Advance selected; (iv) in the case of each Eurocurrency Rate Advance
and Alternate Currency Loan, the Interest Period and Agreed Currency or
Alternate Currency applicable thereto and (v) the account of the applicable
Borrower to which the proceeds of the applicable Loan are to be
credited.  The Borrower shall select Interest Periods so that, to the
best of the Borrower’s knowledge, it will not be necessary to prepay all or any
portion of any Eurocurrency Rate Advance or Alternate Currency Loan prior to the
last day of the applicable Interest Period in order to make mandatory
prepayments as required pursuant to the terms hereof.  Each Floating
Rate Advance, each Alternate Currency Loan bearing a fluctuating Alternate
Currency Rate and all Obligations other than Loans shall bear interest from and
including the date of the making of such Advance, in the case of Loans, and the
date such Obligation is due and owing in the case of such other Obligations, to
(but not including) the date of repayment thereof at the Floating Rate or
Alternate Currency Rate, as applicable, changing when and as such Floating Rate
or Alternate Currency Rate, as applicable, changes.  Changes in the
rate of interest on that portion of any Advance maintained as a Floating Rate
Loan will take effect simultaneously with each change in the Alternate Base
Rate.  Changes in the rate of interest on any portion of any Alternate
Currency Loan bearing a fluctuating Alternate Currency Rate will take effect
simultaneously with each change in such Alternate Currency Rate.  Each
Eurocurrency Rate Advance and each Alternate Currency Loan bearing a fixed
Alternate Currency Rate shall bear interest from and including the first day of
the Interest Period applicable thereto to (but not including) the last day of
such Interest Period at the interest rate determined as applicable to such
Eurocurrency Rate Advance or Alternate Currency Loan, as
applicable.  Notwithstanding anything contained herein to the
contrary, during the continuance of a Default, the Agent may (or shall at the
direction of the Required Lenders) declare that no Advance may be made as a
Eurocurrency Rate Advance.

       

      2.9. Minimum Amount of Each
Advance.  Each Advance (other than an Advance to repay Swing
Line Loans or a Reimbursement Obligation) shall be in the minimum amount of
$500,000 (or the Approximate Equivalent Amount of any Agreed Currency other than
Dollars or any Alternate Currency) and in multiples of $100,000 (or the
Approximate Equivalent Amount of any Agreed Currency other than Dollars or any
Alternate Currency) if in excess thereof (or such other amounts as may be
specified in the applicable Alternate Currency Addendum), provided, however, that any
Floating Rate Advance may be in the amount of the unused Aggregate Revolving
Loan Commitment.

       

      2.10. Method of Selecting Types
and Interest Periods for Conversion and Continuation of
Advances.

       

      (A) Right to
Convert.  The applicable Borrower may elect from time to time,
subject to the provisions of Section 2.4 and this
Section 2.10,
to convert all or any part of a Loan of any Type into any other Type or Types of
Loans; provided
that any conversion of any Eurocurrency Rate Advance and any Alternate Currency
Loan shall be made on, and only on, the last day of the Interest Period
applicable thereto.

       

      (B)  Automatic Conversion and
Continuation.  Floating Rate Loans shall continue as Floating
Rate Loans unless and until such Floating Rate Loans are converted into
Eurocurrency Rate Loans.  Eurocurrency Rate Loans shall continue as
Eurocurrency Rate Loans until the end of the then 

       

      
        
          
          

        

        
          34

          
            

          

        

        
          
          

        

      

       

      applicable
Interest Period therefor, at which time such Eurocurrency Rate Loans shall be
automatically converted into Floating Rate Loans unless the Borrower shall have
given the Agent notice in accordance with Section 2.10(D)
requesting that, at the end of such Interest Period, such Eurocurrency Rate
Loans continue as a Eurocurrency Rate Loan.  Unless a
Borrowing/Conversion/Continuation Notice shall have timely been given in
accordance with the terms of this Section 2.10,
Eurocurrency Rate Advances in an Agreed Currency other than Dollars and
Alternate Currency Loans shall automatically continue as Eurocurrency Rate
Advances in the same Agreed Currency or Alternate Currency Loans in the same
Alternate Currency, as applicable, with an Interest Period of one (1)
month.

       

      (C) No Conversion Post-Default
or Post-Unmatured Default.  Notwithstanding anything to the
contrary contained in Section 2.10(A) or
Section
2.10(B), no Loan may be converted into or continued as a Eurocurrency
Rate Loan (except with the consent of the Required Lenders) when any Default or
Unmatured Default has occurred and is continuing.

       

      (D) Borrowing/Conversion/Continuation
Notice.  The Borrower (on behalf of itself or any Subsidiary
Borrower) shall give the Agent irrevocable notice of each conversion of a
Floating Rate Loan into a Eurocurrency Rate Loan or continuation of a
Eurocurrency Rate Loan not later than 10:00 a.m. (Chicago time) (x) three (3)
Business Days prior to the date of the requested conversion or continuation,
with respect to any Loan to be converted or continued as a Eurocurrency Rate
Loan in Dollars, (y) four (4) Business Days prior to the date of the requested
conversion or continuation with respect to any Loan to be converted or continued
as a Eurocurrency Rate Loan in an Agreed Currency other than Dollars, and (z)
five (5) Business Days before the date of the requested conversion or
continuation Borrowing Date with respect to the conversion or continuation of
any Alternate Currency Loan (or such other period as may be agreed to by the
Agent), and the applicable Alternate Currency Borrower shall give the Alternate
Currency Bank irrevocable notice by 10:00 a.m. (local time) three (3) Business
Days prior to the conversion or continuation of such Alternate Currency Loan (or
such other period as may specified in the applicable Alternate Currency
Addendum), specifying:  (1) the requested date (which shall be a
Business Day) of such conversion or continuation; (2) the amount and Type of the
Loan to be converted or continued; and (3) the amount of Eurocurrency Rate
Loan(s) or Alternate Currency Loan(s), as applicable, into which such Loan is to
be converted or continued, the Agreed Currency or Alternate Currency, as
applicable, and the duration of the Interest Period applicable
thereto.

       

      (E) Notwithstanding
anything herein to the contrary, (x) Eurocurrency Rate Advances in an Agreed
Currency may be converted and/or continued as Eurocurrency Rate Advances only in
the same Agreed Currency, and (y) Alternate Currency Loans in an Alternate
Currency may be converted and/or continued as Alternate Currency Loans only in
the same Alternate Currency.

       

      2.11. Default
Rate.  After the occurrence and during the continuance of a
Default, at the direction of the Required Lenders, the interest rate(s)
applicable to the Obligations and to the fees payable under Section 3.8 with
respect to Letters of Credit shall be equal to the then highest interest rate(s)
hereunder plus
two percent (2.0%) per annum.  After the occurrence of a Default, the
principal balance of, and, to the extent permitted by law, any overdue interest
on any Alternate Currency Loan shall bear interest, payable upon demand, for
each day until paid at the rate per annum equal to two percent (2.00%) plus the
interest rate applicable to such Alternate Currency Loan immediately prior to
the Default.

       

      2.12. Method of
Payment.  All payments of principal, interest, fees,
commissions and L/C Obligations hereunder shall be made, without setoff,
deduction or counterclaim (unless indicated otherwise in Section 2.15(E)),
in immediately available funds to the Agent (i) at the Agent’s address

       

      
        
          
          

        

        
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      specified
pursuant to Article
XIV with respect to Advances or other Obligations denominated in Dollars
and (ii) at the Agent’s Eurocurrency Payment Office with respect to any Advance
or other Obligations denominated in an Agreed Currency other than Dollars, or at
any other Lending Installation of the Agent specified in writing by the Agent to
the Borrower, by 2:00 p.m. (Chicago time) on the date when due and shall be made
ratably among the Lenders (unless such amount is not to be shared ratably in
accordance with the terms hereof).  Each Advance shall be repaid or
prepaid in the Agreed Currency in which it was made in the amount borrowed and
interest payable thereon shall also be paid in such currency.  Each
payment delivered to the Agent for the account of any Lender shall be delivered
promptly by the Agent to such Lender in the same type of funds which the Agent
received at its address specified pursuant to Article XIV or at any
Lending Installation specified in a notice received by the Agent from such
Lender.  Each Borrower authorizes the Agent to charge the account of
such Borrower maintained with JPMorgan for each payment of principal, interest,
fees, commissions and L/C Obligations as it becomes due
hereunder.  Each reference to the Agent in this Section 2.12 shall
also be deemed to refer, and shall apply equally, to each Issuing Bank, in the
case of payments required to be made by the Borrower to any Issuing Bank
pursuant to Article
III.

       

      All
payments to be made by the applicable Borrowers hereunder in respect of any
Alternate Currency Loans shall be made in the currencies in which such Loans are
denominated and in funds immediately available, at the office or branch from
which the Loan was made pursuant to Section 2.21 and the
applicable Alternate Currency Addendum not later than 3:00 p.m. (local time) on
the date on which such payment shall become due.  Promptly upon
receipt of any payment of principal of the Alternate Currency Loans the
Alternate Currency Bank shall give written notice to the Agent by telex or
telecopy of the receipt of such payment.

       

      Notwithstanding
the foregoing provisions of this Section, if, after the making of any Advance in
any currency other than Dollars, currency control or exchange regulations are
imposed in the country which issues such Agreed Currency or Alternate Currency,
as applicable, with the result that different types of such Agreed Currency or
Alternate Currency, as applicable, (the “New
Currency”) are introduced and the type of currency in which the Advance
was made (the “Original
Currency”) no longer exists or any Borrower is not able to make payment
to the Agent for the account of the Lenders or Alternate Currency Bank, as
applicable, in such Original Currency, then all payments to be made by the
Borrowers hereunder in such currency shall be made to the Agent or Alternate
Currency Bank, as applicable, in such amount and such type of the New Currency
or Dollars as shall be equivalent to the amount of such payment otherwise due
hereunder in the Original Currency, it being the intention of the parties hereto
that the Borrowers take all risks of the imposition of any such currency control
or exchange regulations.  In addition, notwithstanding the foregoing
provisions of this Section, if, after the making of any Advance in any currency
other than Dollars, any applicable Borrower is not able to make payment to the
Agent for the account of the Lenders or the Alternate Currency Bank in the type
of currency in which such Advance was made because of the imposition of any such
currency control or exchange regulation, then such Advance shall instead be
repaid when due in Dollars in a principal amount equal to the Dollar Amount (as
of the date of repayment) of such Advance.

       

      2.13. Evidence of
Debt.

       

      (A) Each
Lender shall maintain in accordance with its usual practice an account or
accounts (a “Loan
Account”) evidencing the indebtedness of the Borrowers to such Lender
owing to such Lender from time to time, including the amounts of principal and
interest payable and paid to such Lender from time to time
hereunder.

       

      
        
          
          

        

        
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      (B) The
Register maintained by the Agent pursuant to Section 13.3(C) shall
include a control account, and a subsidiary account for each Lender, in which
accounts (taken together) shall be recorded (i) the date and the amount of each
Loan made hereunder, the Type thereof and the Interest Period, if any,
applicable thereto, (ii) the amount of any principal or interest due and payable
or to become due and payable from the Borrowers to each Lender hereunder,
(iii) the effective date and amount of each Assignment Agreement delivered
to and accepted by it and the parties thereto pursuant to Section 13.3, (iv)
the amount of any sum received by the Agent hereunder for the account of the
Lenders and each Lender’s share thereof, and (v) all other appropriate debits
and credits as provided in this Agreement, including, without limitation, all
fees, charges, expenses and interest.

       

      (C) The
entries made in the Loan Account, the Register and the other accounts maintained
pursuant to subsections (A) or
(B) of this
Section shall be conclusive and binding for all purposes, absent manifest error,
unless the applicable Borrower objects to information contained in the Loan
Accounts, the Register or the other accounts within thirty (30) days of the
applicable Borrower’s receipt of such information; provided that the
failure of any Lender or the Agent to maintain such accounts or any error
therein shall not in any manner affect the obligation of the Borrowers to repay
the Loans in accordance with the terms of this Agreement.

       

      (D) Any
Lender may request that the Revolving Loans made by it each be evidenced by a
promissory note in substantially the forms of Exhibit K to evidence
such Lender’s Revolving Loans.  In such event, each applicable
Borrower shall prepare, execute and deliver to such Lender a promissory note for
such Loans payable to the order of such Lender and in a form approved by the
Agent and consistent with the terms of this Agreement.  Thereafter,
the Loans evidenced by such promissory note and interest thereon shall at all
times (including after assignment pursuant to Section 13.3) be
represented by one or more promissory notes in such form payable to the order of
the payee named therein.

       

      2.14. Telephonic
Notices.  Solely in the case of Loans denominated in Dollars to
the Borrower or a Domestic Subsidiary Borrower, the Borrowers authorize the
Lenders and the Agent to extend Advances, effect selections of Types of Advances
and to transfer funds based on telephonic notices made by any person or persons
the Agent or any Lender in good faith believes to be acting on behalf of the
applicable Borrower.  The Borrowers agree to deliver promptly to the
Agent a written confirmation, signed by an Authorized Officer, if such
confirmation is requested by the Agent or any Lender, of each telephonic
notice.  If the written confirmation differs in any material respect
from the action taken by the Agent and the Lenders, the records of the Agent and
the Lenders shall govern absent manifest error.  In case of
disagreement concerning such notices, if the Agent has recorded telephonic
borrowing notices, such recordings will be made available to the applicable
Borrower upon any Borrower’s request therefor.

       

      2.15. Promise to Pay; Interest and
Commitment Fees; Interest Payment Dates; Interest and Fee Basis; Taxes; Loan and
Control Accounts.

       

      (A) Promise to
Pay.  Without limiting the provisions of Section 1.5 hereof,
each of the Borrowers unconditionally promises to pay when due the principal
amount of each Loan incurred by it and all other Obligations incurred by it, and
to pay all unpaid interest accrued thereon, in accordance with the terms of this
Agreement and the other Loan Documents.

       

      (B) Interest Payment
Dates.  Interest accrued on each Floating Rate Loan and each
Alternate Currency Loan bearing a fluctuating Alternate Currency Rate shall be
payable on each Payment Date, commencing with the first such date to occur after
the date hereof, upon any prepayment whether by acceleration or otherwise, and
at maturity (whether by acceleration or 

       

      
        
          
          

        

        
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otherwise).  Interest
accrued on each Eurocurrency Rate Loan and each Alternate Currency Loan bearing
a fixed Alternate Currency Rate shall be payable on the last day of its
applicable Interest Period, on any date on which the Eurocurrency Rate Loan or
Alternate Currency Loan is prepaid, whether by acceleration or otherwise, and at
maturity.  Interest accrued on each Eurocurrency Rate Loan and each
Alternate Currency Loan bearing a fixed Alternate Currency Rate having an
Interest Period longer than three months shall also be payable on the last day
of each three-month interval during such Interest Period.  Interest
accrued on the principal balance of all other Obligations shall be payable in
arrears (i) on the last day of each calendar month, commencing on the first
such day following the incurrence of such Obligation, (ii) upon repayment
thereof in full or in part, and (iii) if not theretofore paid in full, at
the time such other Obligation becomes due and payable (whether by acceleration
or otherwise).

       

      (C) Commitment
Fees.

       

      (i) The
Borrower shall pay to the Agent, for the account of the Lenders in accordance
with their Pro Rata Shares, from and after the date of this Agreement until the
date on which the Aggregate Revolving Loan Commitment shall be terminated in
whole, a commitment fee accruing at the rate of the then Applicable Commitment
Fee Percentage, on the amount by which (A) the Aggregate Revolving Loan
Commitment in effect from time to time exceeds (B) the Dollar Amount of the
Revolving Credit Obligations (including the outstanding principal amount of the
Swing Line Loans) in effect from time to time (as determined by the Agent in
accordance with its customary practices).  All such commitment fees
payable under this clause (C) shall be
payable quarterly in arrears on the last day of each fiscal quarter of the
Borrower occurring after the date of this Agreement (with the first such payment
being calculated for the period from the date of this Agreement and ending on
March 31, 2010), and, in addition, on the date on which the Aggregate Revolving
Loan Commitment shall be terminated in whole.

       

      (ii) The
Borrower agrees to pay to the Agent for the sole account of the Agent and the
Arranger (unless otherwise agreed between the Agent and the Arranger and any
Lender) the fees set forth in the letter agreement between the Agent, the
Arranger and the Borrower dated December 4, 2009, payable at the times and in
the amounts set forth therein.

       

      (iii) The
applicable Borrower agrees to pay to the Alternate Currency Bank, for its sole
account, a fronting fee a equal to 0.125% per annum on the average daily
outstanding Dollar Amount of all Alternate Currency Loans.

       

      (D) Interest
and Fee Basis; Applicable Floating Rate Margin, Applicable Eurocurrency Margin,
Applicable Commitment Fee Percentage and Applicable L/C Fee
Percentage.

       

      (i) Interest
on all Eurocurrency Rate Loans, all Alternate Currency Loans (except as provided
otherwise in the applicable Alternate Currency Addendum) and on all fees shall
be calculated for actual days elapsed on the basis of a 360-day
year.  Interest on all Floating Rate Loans shall be calculated for
actual days elapsed on the basis of a 365-, or when appropriate 366-, day
year.  Interest shall be payable for the day an Obligation is incurred
but not for the day of any payment on the amount paid if payment is received
prior to 2:00 p.m. (Chicago time) at the place of payment.  If any
payment of principal of or interest on a Loan or any payment of any other
Obligations shall become due on a day which is not a Business Day, such payment
shall be made on the next succeeding Business Day and, in the case of a
principal payment, such extension of time shall be included in computing
interest, fees and commissions in connection with such payment.

       

      
        
          
          

        

        
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      (ii) The
Applicable Floating Rate Margin, Applicable Eurocurrency Margin, Applicable
Commitment Fee Percentage and Applicable L/C Fee Percentage shall be determined
on the basis of the then applicable Cash Flow Leverage Ratio as described in
this Section
2.15(D)(ii), from time to time by reference to the following
table:

       

      

      
        	
                 

                 

                 

                Cash
      Flow Leverage Ratio

              	 	
                
                

                Applicable
      Floating

                Rate
      Margin

              	 	 	
                
                

                Applicable
      Eurocurrency

                Margin

              	 	 	
                Applicable

                Commitment

                Fee
      Percentage

              	 	 	
                Applicable

                l/c

                Fee
      Percentage

              	 
	
                Greater
      than 2.25 to 1.00

              	 	 	2.50	%	 	 	3.50	%	 	 	0.50	%	 	 	3.50	%
	
                Greater
      than 1.75 to 1.0 and less than or equal to 2.25 to 1.00

              	 	 	2.00	%	 	 	3.00	%	 	 	0.375	%	 	 	3.00	%
	
                Greater
      than 1.25 to 1.00 and less than or equal to 1.75 to 1.00

              	 	 	1.75	%	 	 	2.75	%	 	 	0.30	%	 	 	2.75	%
	
                Less
      than or equal to 1.25 to 1.00

              	 	 	1.50	%	 	 	2.50	%	 	 	0.25	%	 	 	2.50	%

      

      

      For
purposes of this Section 2.15(D)(ii),
the Cash Flow Leverage Ratio shall be calculated as provided in Section
7.4(B).  Upon receipt of the financial statements delivered
pursuant to Sections
7.1(A)(i) and (ii), as applicable,
the Applicable Floating Rate Margin, Applicable Eurocurrency Margin and
Applicable Commitment Fee Percentage shall be adjusted, such adjustment being
effective five (5) Business Days following the Agent’s receipt of such financial
statements and the compliance certificate required to be delivered in connection
therewith pursuant to Section 7.1(A)(iii);
provided, that
if the Borrower shall not have timely delivered its financial statements in
accordance with Section 7.1(A)(i) or
(ii), as
applicable, and such failure continues for five (5) days after notice from the
Agent to the Borrower, then, at the discretion of the Required Lenders,
commencing on the date upon which such financial statements should have been
delivered and continuing until such financial statements are actually delivered,
it shall be assumed for purposes of determining the Applicable Floating Rate
Margin, Applicable Eurocurrency Margin, Applicable L/C Fee Percentage and
Applicable Commitment Fee Percentage that the Cash Flow Leverage Ratio was
greater than 2.25 to 1.00.

       

      (iii) Notwithstanding
anything herein to the contrary, from the Closing Date to but not including the
fifth (5th)
Business Day following receipt of the Borrower’s financial statements delivered
pursuant to Section
7.1(A)(i) for the fiscal quarter ending December 31, 2009, the Applicable
Floating Rate Margin, Applicable Eurocurrency Margin, Applicable L/C Fee
Percentage and Applicable Commitment Fee Percentage shall be determined based
upon a Cash Flow Leverage Ratio greater than 1.75 to 1.0 and less than or equal
to 2.25 to 1.00 (unless such financial statements demonstrate that the Cash Flow
Leverage Ratio is greater than 2.25 to 1.00, in which case such other Cash Flow
Leverage Ratio shall be deemed to be applicable during such
period).

       

      (E) Taxes.

       

      
        
          
          

        

        
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      (i) Any and
all payments by the Borrowers hereunder shall be made free and clear of and
without deduction for any and all present or future taxes, levies, imposts,
deductions, charges or withholdings or any liabilities with respect thereto
imposed by any Governmental Authority including those arising after the date
hereof as a result of the adoption of or any change in any law, treaty, rule,
regulation, guideline or determination of a Governmental Authority or any change
in the interpretation or application thereof by a Governmental Authority but
excluding, in the case of each Lender and the Agent, (i) such taxes (including
income taxes, franchise taxes and branch profit taxes) as are imposed on or
measured by such Lender’s or Agent’s, as the case may be, net income or similar
taxes imposed by the United States of America or any Governmental Authority of
the jurisdiction under the laws of which such Lender or Agent, as the case may
be, is organized or maintains a Lending Installation (all such non-excluded
taxes, levies, imposts, deductions, charges, withholdings, and liabilities which
the Agent or a Lender determines to be applicable to this Agreement, the other
Loan Documents, the Revolving Loan Commitments, the Loans or the Letters of
Credit being hereinafter referred to as “Taxes”)
and (ii) if such Lender or the Agent is entitled at such time to a total or
partial exemption from withholding that is required to be evidenced by an IRS
Form 1001, 4224, W-8 or W-9 or, in each case, any successor or additional form,
taxes imposed by reason of any failure of such Lender or the Agent to deliver to
the Agent or any Borrower, from time to time as required by the Agent or such
Borrower, such Form 1001, 4224, W-8 or W-9 (as applicable) or, in each case, any
successor or additional form, completed in a manner reasonably satisfactory to
the Agent and such Borrower.  If a Borrower or the Agent shall be
required by law to deduct any Taxes from or in respect of any sum payable
hereunder or under the other Loan Documents to any Lender or the Agent, (i) the
sum payable shall be increased as may be necessary so that after making all
required deductions (including deductions applicable to additional sums payable
under this Section 2.15(E))
such Lender or the Agent (as the case may be) receives an amount equal to the
sum it would have received had no such deductions been made, (ii) the applicable
Borrower shall make such deductions, and (iii) the applicable Borrower shall pay
the full amount deducted to the relevant taxation authority or other authority
in accordance with applicable law.  If any Tax, including, without
limitation, any withholding tax, of the United States of America or any other
Governmental Authority shall be or become applicable (y) after the date of this
Agreement, to such payments by the applicable Borrower made to the Lending
Installation or any other office that a Lender may claim as its Lending
Installation, or (z) after such Lender’s selection and designation of any other
Lending Installation, to such payments made to such other Lending Installation,
such Lender shall use reasonable efforts to make, fund and maintain its Loans
through another Lending Installation of such Lender in another jurisdiction so
as to reduce the applicable Borrower’s liability hereunder, if the making,
funding or maintenance of such Loans through such other Lending Installation of
such Lender does not, in the reasonable judgment of such Lender, otherwise
adversely and materially affect such Loans, or obligations under the Revolving
Loan Commitments or such Lender.

       

      (ii) In
addition, each Borrower agrees to pay any present or future stamp or documentary
taxes or any other excise or property taxes, charges, or similar levies which
arise from any payment made hereunder, from the issuance of Letters of Credit
hereunder, or from the execution, delivery or registration of, or otherwise with
respect to, this Agreement, the other Loan Documents, the Revolving Loan
Commitments, the Loans or the Letters of Credit (hereinafter referred to as
“Other
Taxes”).

       

      (iii) Each
Borrower hereby agrees to indemnify each Lender and the Agent for the full
amount of Taxes and Other Taxes (including, without limitation, any Taxes or
Other Taxes

       

      
        
          
          

        

        
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      imposed
by any Governmental Authority on amounts payable under this Section 2.15(E))
paid by such Lender or the Agent (as the case may be) and any liability
(including penalties, interest, and expenses) arising therefrom or with respect
thereto, whether or not such Taxes or Other Taxes were correctly or legally
asserted.  This indemnification shall be made within thirty (30) days
after the date such Lender or the Agent (as the case may be) makes written
demand therefor.  A certificate as to any additional amount payable to
any Lender or the Agent under this Section 2.15(E)
submitted to the applicable Borrower and the Agent (if a Lender is so
submitting) by such Lender or the Agent shall show in reasonable detail the
amount payable and the calculations used to determine such amount and shall,
absent manifest error, be final, conclusive and binding upon all parties
hereto.  With respect to such deduction or withholding for or on
account of any Taxes and to confirm that all such Taxes have been paid to the
appropriate Governmental Authorities, the applicable Borrower shall promptly
(and in any event not later than thirty (30) days after receipt) furnish to each
Lender and the Agent such certificates, receipts and other documents as may be
required (in the judgment of such Lender or the Agent) to establish any tax
credit to which such Lender or the Agent may be entitled.

       

      (iv) Within
thirty (30) days after the date of any payment of Taxes or Other Taxes by any
Borrower, the Borrower shall furnish to the Agent the original or a certified
copy of a receipt evidencing payment thereof.

       

      (v) Without
prejudice to the survival of any other agreement of the Borrowers hereunder, the
agreements and obligations of the Borrowers contained in this Section 2.15(E)
shall survive the payment in full of principal and interest hereunder, the
termination of the Letters of Credit and the termination of this
Agreement.

       

      (vi) Each
Lender that is not created or organized under the laws of the United States of
America or a political subdivision thereof shall deliver to the Borrower and the
Agent on or before the Closing Date, or, if later, the date on which such Lender
becomes a Lender pursuant to Section 13.3, a
true and accurate certificate executed in duplicate by a duly authorized officer
of such Lender, in a form satisfactory to the Borrower and the Agent, to the
effect that such Lender is eligible under the provisions of an applicable tax
treaty concluded by the United States of America (in which case the certificate
shall be accompanied by two (2) executed copies of Form 1001 of the IRS or
successor applicable form) or under Section 1442 of the Code (in which case
the certificate shall be accompanied by two copies of Form 4224 of the IRS
or successor applicable form) or, if such Lender is not a “bank” within the
meaning of Section 881(c)(3)(A) of the Code, two complete copies of IRS Form W-8
or W-9 or successor applicable form to receive payments of interest hereunder
without deduction or withholding of United States federal income
tax.  Each such Lender further agrees to deliver to the Borrower and
the Agent from time to time a true and accurate certificate executed in
duplicate by a duly authorized officer of such Lender substantially in a form
satisfactory to the Borrower and the Agent, before or promptly upon the
occurrence of any event requiring a change in the most recent certificate
previously delivered by it to the Borrower and the Agent pursuant to this Section 2.15(E)(vi).

       

      2.16. Notification of Advances,
Interest Rates, Prepayments and Aggregate Revolving Loan Commitment
Reductions.  Promptly after receipt thereof, the Agent will
notify each Lender of the contents of each Aggregate Revolving Loan Commitment
reduction notice, Borrowing/Conversion/Continuation Notice, and repayment notice
received by it hereunder.  The Agent will notify each Lender of the
interest rate and Agreed Currency applicable to each Eurocurrency Rate Loan
promptly upon determination of such interest rate and Agreed Currency and will
give each Lender prompt notice of each change in the Alternate Base
Rate.

       

      
        
          
          

        

        
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      2.17. Lending
Installations.  Each Lender may book its Loans or Letters of
Credit at any Lending Installation selected by such Lender and may change its
Lending Installation from time to time.  All terms of this Agreement
shall apply to any such Lending Installation.  Each Lender may, by
written or facsimile notice to the Agent and the Borrower, designate a Lending
Installation through which Loans will be made by it and for whose account Loan
payments and/or payments of L/C Obligations are to be made.

       

      2.18. Non-Receipt of Funds by the
Agent.  Unless a Borrower or a Lender, as the case may be,
notifies the Agent prior to the date on which it is scheduled to make payment to
the Agent of (i) in the case of a Lender, the proceeds of a Loan or (ii) in the
case of a Borrower, a payment of principal, interest or fees to the Agent for
the account of the Lenders, that it does not intend to make such payment, the
Agent may assume that such payment has been made.  The Agent may, but
shall not be obligated to, make the amount of such payment available to the
intended recipient in reliance upon such assumption.  If such Lender
or such Borrower, as the case may be, has not in fact made such payment to the
Agent, the recipient of such payment shall, on demand by the Agent, repay to the
Agent the amount so made available together with interest thereon in respect of
each day during the period commencing on the date such amount was so made
available by the Agent until the date the Agent recovers such amount at a rate
per annum equal to (i) in the case of payment by a Lender, the Federal Funds
Effective Rate for such day or (ii) in the case of payment by a Borrower, the
interest rate applicable to the relevant Loan.

       

      2.19. Termination
Date.  This Agreement shall be effective until the Termination
Date.  Notwithstanding the termination of this Agreement, until (A)
all of the Obligations, Hedging Obligations and Banking Services Obligations
(other than (x) contingent indemnity obligations for which no claim has been
made and (y) Hedging Obligations and Banking Services Obligations, in each case
only to the extent the same are not yet due and payable) shall have been fully
and indefeasibly paid and satisfied, (B) all financing arrangements among the
Borrowers and the Lenders shall have been terminated (other than under Hedging
Agreements, Banking Services Agreements or other agreements with respect to
Hedging Obligations and Banking Services Obligations) and (C) all of the Letters
of Credit shall have expired, been canceled or terminated (collectively, the
“Termination
Conditions”), all of the rights and remedies under this Agreement and the
other Loan Documents shall survive.  Upon satisfaction of the
Termination Conditions, the Agent shall execute and deliver to the Borrower and
the Subsidiaries of the Borrower all Uniform Commercial Code termination
statements, mortgage assignments or satisfactions and similar documents which
the Borrower and the Subsidiaries of the Borrower shall reasonably request to
evidence such termination.

       

      2.20. Replacement of Certain
Lenders.  In the event a Lender (“Affected
Lender”) shall have:  (i) failed to fund its Pro Rata Share of
any Advance requested by a Borrower, or to fund a Revolving Loan in order to
repay Swing Line Loans pursuant to Section 2.3(D), or to
make payment in respect of any Alternate Currency Loan purchased by such Lender
pursuant to Section
2.21(E), which such Lender is obligated to fund under the terms of this
Agreement and which failure has not been cured, (ii) requested compensation from
a Borrower under Sections 2.15(E),
4.1 or 4.2 to recover Taxes,
Other Taxes or other additional costs incurred by such Lender which are not
being incurred generally by the other Lenders, (iii) delivered a notice pursuant
to Section 4.3
claiming that such Lender is unable to extend Eurocurrency Rate Loans to the
applicable Borrower for reasons not generally applicable to the other Lenders or
(iv) has invoked Section 10.2, then,
in any such case, the Borrower or the Agent may make written demand on such
Affected Lender (with a copy to the Agent in the case of a demand by the
Borrower and a copy to the Borrower in the case of a demand by the Agent) for
the Affected Lender to assign, and such Affected Lender shall use commercially
reasonable efforts to assign pursuant to one or more duly executed Assignment
Agreements five (5) Business Days after the date of such demand, to one or more
financial institutions that comply with the provisions of Section 13.3(A) which
the Borrower or the Agent, as the 

       

      
        
          
          

        

        
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      case may
be, shall have engaged for such purpose (“Replacement
Lender”), all of such Affected Lender’s rights and obligations under this
Agreement and the other Loan Documents (including, without limitation, its
Revolving Loan Commitment, all Loans owing to it, all of its participation
interests in existing Letters of Credit, and its obligation to participate in
additional Letters of Credit and Swing Line Loans and Alternate Currency Loans
hereunder) in accordance with Section
13.3.  The Agent agrees, upon the occurrence of such events
with respect to an Affected Lender and upon the written request of the Borrower,
to use its reasonable efforts to obtain the commitments from one or more
financial institutions to act as a Replacement Lender.  The Agent is
authorized to execute one or more of such assignment agreements as
attorney-in-fact for any Affected Lender failing to execute and deliver the same
within five (5) Business Days after the date of such demand.  Further,
with respect to such assignment the Affected Lender shall have concurrently
received, in cash, all amounts due and owing to the Affected Lender hereunder or
under any other Loan Document, including, without limitation, the aggregate
outstanding principal amount of the Loans owed to such Lender, together with
accrued interest thereon through the date of such assignment, amounts payable
under Sections 2.15(E),
4.1, and 4.2 with respect to
such Affected Lender and compensation payable under Section 2.15(D) in
the event of any replacement of any Affected Lender under clause (ii) or clause (iii) of this
Section 2.20;
provided that
upon such Affected Lender’s replacement, such Affected Lender shall cease to be
a party hereto but shall continue to be entitled to the benefits of Sections 2.15(E),
4.1, 4.2, 4.4, and 10.7, as well as to
any fees accrued for its account hereunder and not yet paid, and shall continue
to be obligated under Section
11.8.  Upon the replacement of any Affected Lender pursuant to
this Section
2.20, the provisions of Section 9.2 shall
continue to apply with respect to Loans which are then outstanding with respect
to which the Affected Lender failed to fund its Pro Rata Share and which failure
has not been cured.

       

      2.21. Alternate Currency
Loans.

       

      (A) Prior to
the Closing Date, certain “Alternate Currency Loans” were previously made to the
Alternate Currency Borrowers under the Existing Credit Agreement which remain
outstanding as of the date of this Agreement (such outstanding alternate
currency loans being hereinafter referred to as the “Previous
Alternate Currency Loans”).  Subject to the terms and
conditions set forth in this Agreement, on the Closing Date but subject to the
satisfaction of the conditions precedent set forth in Sections 5.1 and
5.2 (as
applicable), the Previous Alternate Currency Loans shall be reevidenced as
Alternate Currency Loans under, and subject to the terms of, this
Agreement.  Upon the satisfaction of the conditions precedent set
forth in Article
V hereof and set forth in the applicable Alternate Currency Addendum,
from and including the later of the date of this Agreement and the date of
execution of the applicable Alternate Currency Addendum and prior to Termination
Date (unless an earlier termination date shall be specified in or pursuant to
the applicable Alternate Currency Addendum), the Alternate Currency Bank agrees,
on the terms and conditions set forth in this Agreement and in the applicable
Alternate Currency Addendum, to make Alternate Currency Loans under such
Alternate Currency Addendum to the applicable Alternate Currency Borrower party
to such Alternate Currency Addendum from time to time in the applicable
Alternate Currency, in an amount not to exceed each such Alternate Currency
Bank’s applicable Alternate Currency Commitment; provided, however, at no time
shall the Dollar Amount of the outstanding principal amount of the Alternate
Currency Loans (i) denominated in all Alternate Currencies other than Canadian
Dollars, when aggregated with the Dollar Amount of all Eurocurrency Rate
Advances in Agreed Currencies other than Dollars and Canadian Dollars, exceed
the Maximum Eurocurrency Amount or (ii) denominated in Canadian Dollars, when
aggregated with the Dollar Amount of all L/C Obligations denominated in Canadian
Dollars, exceed the Maximum Canadian Amount, in each case, other than as a
result of currency fluctuations and then only to the extent permitted in Section 2.5(B)(ii);
provided, further, at no time
shall the Dollar Amount of the Alternate Currency 

       

      
        
          
          

        

        
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      Loans for
any specific Alternate Currency exceed the maximum amount specified as the
maximum amount for such Alternate Currency in the applicable Alternate Currency
Addendum other than as a result of currency fluctuations and then only to the
extent permitted in Section 2.5(B)(ii).  Subject
to the terms of this Agreement and the applicable Alternate Currency Addendum,
the applicable Alternate Currency Borrowers may borrow, repay and reborrow
Alternate Currency Loans at any time prior to the Termination Date (unless an
earlier termination date shall be specified in or pursuant to the applicable
Alternate Currency Addendum).  On the Termination Date (unless an
earlier termination date shall be specified in or pursuant to the applicable
Alternate Currency Addendum), the outstanding principal balance of the Alternate
Currency Loans shall be paid in full by the applicable Alternate Currency
Borrower and prior to Termination Date (unless an earlier termination date shall
be specified in or pursuant to the applicable Alternate Currency Addendum)
prepayments of the Alternate Currency Loans shall be made by the applicable
Alternate Currency Borrower if and to the extent required in Section 2.5(B)(ii).

       

      (B) Borrowing
Notice.  When the applicable Alternate Currency Borrower
desires to borrow under this Section 2.21, the
applicable Alternate Currency Borrower shall deliver to the Alternate Currency
Bank and the Agent a Borrowing/Conversion/Continuation Notice, signed by it, as
provided in Section
2.8 specifying that the Alternate Currency Borrower is requesting an
Alternate Currency Loan pursuant to this Section
2.21.  Any Borrowing/Conversion/Continuation Notice given
pursuant to this Section 2.21 shall be
irrevocable.

       

      (C) Termination.  Except
as otherwise required by applicable law, in no event shall the Alternate
Currency Bank have the right to accelerate the Alternate Currency Loans
outstanding under any Alternate Currency Addendum or to terminate its
commitments (if any) thereunder to make Alternate Currency Loans prior to the
stated termination date in respect thereof, except that the Alternate Currency
Bank shall have such rights upon an acceleration of the Loans and a termination
of the Revolving Credit Commitments pursuant to Article
IX.

       

      (D) Statements.  The
Alternate Currency Bank shall furnish to the Agent not less frequently than
monthly, and at any other time at the reasonable request of the Agent, a
statement setting forth the outstanding Alternate Currency Loans made and repaid
during the period since the last such report under such Alternate Currency
Addendum.

       

      (E) Risk
Participation.  Immediately and automatically upon the
occurrence of a Default under Sections 8.1(A),
(F) or (G) (each an “Alternate
Currency Loan Participation Funding Event”), each Lender shall be deemed
to have unconditionally and irrevocably purchased from the Alternate Currency
Bank, without recourse or warranty, an undivided interest in and participation
in each Alternate Currency Loan ratably in accordance with such Lender’s Pro
Rata Share of the amount of such Loan, and immediately and automatically all
Alternate Currency Loans shall be converted to and redenominated in Dollars
equal to the Dollar Amount of each such Alternate Currency Loan determined as of
the date of such conversion; provided, that to the
extent such conversion shall occur other than at the end of an Interest Period,
the applicable Borrower shall pay to the Alternate Currency Bank, all losses and
breakage costs related thereto in accordance with Section
4.4.  Each of the Lenders shall pay to the Alternate Currency
Bank not later than two (2) Business Days following a request for payment from
such Alternate Currency Bank after an Alternate Currency Loan Participation
Funding Event, in Dollars, an amount equal to the undivided interest in and
participation in the Alternate Currency Loan purchased by such Lender pursuant
to this Section
2.21(E).  In the event that any Lender fails to make payment to
the Alternate Currency Bank of any amount due under this Section 2.21(E), the
Agent shall be entitled to receive, retain and apply against such obligation the
principal and interest otherwise payable to such Lender hereunder until the
Agent receives from 

       

      
        
          
          

        

        
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      such
Lender an amount sufficient to discharge such Lender’s payment obligation as
prescribed in this Section 2.21(E)
together with interest thereon at the Federal Funds Effective Rate for each day
during the period commencing on the date of demand by the Alternate Currency
Bank and ending on the date such obligation is fully satisfied.  The
Agent will promptly remit all payments received as provided above to the
Alternate Currency Bank.  In consideration of the agreement to acquire
the risk participations prescribed in this Section 2.21(E), each
Lender shall receive, from the accrued interest paid by the applicable Borrower
on each Alternate Currency Loan, a risk participation fee equal to such Lender’s
Pro Rata Share of the interest margin accrued on such Loan at the Applicable
Eurocurrency Margin or Applicable Floating Rate Margin, as applicable, as in
effect from time to time during the period such interest
accrued.  Such portion of the interest paid by the applicable Borrower
on Alternate Currency Loans to the applicable Alternate Currency Bank shall be
paid as promptly as possible by such Alternate Currency Bank to the Agent, and
the Agent shall as promptly as possible apply such resulting amount ratably
among the Lenders (including the Alternate Currency Banks) in proportion to
their Pro Rata Share.  Furthermore, upon each Lender’s funding of its
risk participation as prescribed under this Section 2.21(E), such
Lender shall receive (in addition to, but without duplication of, such risk
participation fee), from the accrued interest paid by the applicable Borrower on
each Alternate Currency Loan, a funding fee on its funded portion of such
Alternate Currency Loan equal to such Lender’s Pro Rata Share of the interest
(excluding the interest margin which will continue to be paid as a risk
participation fee as described above) on such Loan, as in effect from time to
time during the period such interest accrued.

       

      (F) Other Provisions Applicable
to Alternate Currency Loans.  The specification of payment of
Alternate Currency Loans in the related Alternate Currency at a specific place
pursuant to this Agreement is of the essence.  Such Alternate Currency
shall be the currency of account and payment of such Loans under this Agreement
and the applicable Alternate Currency Addendum.  Notwithstanding
anything in this Agreement, the obligation of the applicable Alternate Currency
Borrower in respect of such Loans shall not be discharged by an amount paid in
any other currency or at another place, whether pursuant to a judgment or
otherwise, to the extent the amount so paid, on prompt conversion into the
applicable Alternate Currency and transfer to such Lender under normal banking
procedure, does not yield the amount of such Alternate Currency due under this
Agreement, the applicable Alternate Currency Addendum.  In the event
that any payment, whether pursuant to a judgment or otherwise, upon conversion
and transfer, does not result in payment of the amount of such Alternate
Currency due under this Agreement or the applicable Alternate Currency Addendum,
such Lender shall have an independent cause of action against each of the
Borrowers for the currency deficit.

       

      2.22. Judgment
Currency.  If, for the purposes of obtaining judgment in any
court, it is necessary to convert a sum due from any Borrower hereunder in the
currency expressed to be payable herein (the “specified
currency”) into another currency, the parties hereto agree, to the
fullest extent that they may effectively do so, that the rate of exchange used
shall be that at which in accordance with normal banking procedures the Agent
could purchase the specified currency with such other currency at the Agent’s
main office in Chicago, Illinois on the Business Day preceding that on which the
final, non-appealable judgment is given.  The obligations of each
Borrower in respect of any sum due to any Lender or the Agent hereunder shall,
notwithstanding any judgment in a currency other than the specified currency, be
discharged only to the extent that on the Business Day following receipt by such
Lender or the Agent (as the case may be) of any sum adjudged to be so due in
such other currency such Lender or the Agent (as the case may be) may in
accordance with normal, reasonable banking procedures purchase the specified
currency with such other currency.  If the amount of the specified
currency so purchased is less than the sum originally due to such Lender or the
Agent, as the case may be, in the specified currency, each 

       

      
        
          
          

        

        
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      Borrower
agrees, to the fullest extent that it may effectively do so, as a separate
obligation and notwithstanding any such judgment, to indemnify such Lender or
the Agent, as the case may be, against such loss, and if the amount of the
specified currency so purchased exceeds (a) the sum originally due to any Lender
or the Agent, as the case may be, in the specified currency and (b) any amounts
shared with other Lenders as a result of allocations of such excess as a
disproportionate payment to such Lender under Section 12.2, such
Lender or the Agent, as the case may be, agrees to remit such excess to such
Borrower.

       

      2.23. Market Disruption;
Denomination of Amounts in Dollars; Dollar Equivalent of Reimbursement
Obligations.

       

      (A) Notwithstanding
the satisfaction of all conditions referred to in this Article II with
respect to any Advance in any Agreed Currency other than Dollars or Alternate
Currency, as applicable, if there shall occur on or prior to the date of such
Advance any change in national or international financial, political or economic
conditions or currency exchange rates or exchange controls which would in the
reasonable opinion of the Borrower, any Alternate Currency Borrower, the
Alternate Currency Bank, Agent or the Required Lenders make it impracticable for
the Eurocurrency Rate Loans or Alternate Currency Loans comprising such Advance
to be denominated in the Agreed Currency or Alternate Currency, as applicable,
specified by the applicable Borrower, then the Agent shall forthwith give notice
thereof to such Borrower, the Alternate Currency Bank and the Lenders, or the
applicable Borrower shall give notice to the Agent, the Alternate Currency Bank
and the Lenders, as the case may be, and such Eurocurrency Rate Loans or
Alternate Currency Loans shall not be denominated in such currency but shall be
made on such Borrowing Date in Dollars, in an aggregate principal amount equal
to the Dollar Amount of the aggregate principal amount specified in the related
Borrowing Notice, as Floating Rate Loans, unless the applicable Borrower
notifies the Agent at least one (1) Business Day before such date that (i) it
elects not to borrow on such date or (ii) it elects to borrow on such date in a
different Agreed Currency or Alternate Currency, as the case may be, in which
the denomination of such Loans would in the opinion of the Agent, the Alternate
Currency Bank, if applicable, and the Required Lenders be practicable and in an
aggregate principal amount equal to the Dollar Amount of the aggregate principal
amount specified in the related Borrowing Notice.

       

      (B) Except as
set forth below, all amounts referenced in this Article II shall be
calculated using the Dollar Amount determined based upon the Equivalent Amount
in effect as of the date of any determination thereof; provided, however, that payment
by any Borrower of any Advance denominated in a currency other than Dollars,
shall be in Dollars using the Dollar Amount of the Advance (calculated based
upon the Equivalent Amount in effect on the date of payment thereof) and in the
event that the Borrower does not reimburse the Agent and the Lenders are
required to fund a purchase of a participation in such Advance, such purchase
shall be made in Dollars in an amount equal to the Dollar Amount of such Advance
(calculated based upon the Equivalent Amount in effect on the date of payment
thereof).  Notwithstanding anything herein to the contrary, the full
risk of currency fluctuations shall be borne by the Borrowers and the Borrowers
agree to indemnify and hold harmless each Issuing Bank, the Agent and the
Lenders from and against any loss resulting from any borrowing denominated in a
currency other than in Dollars and for which the Lenders are not reimbursed on
the day of such borrowing as it relates to each Borrower’s respective
Obligations.

       

      2.24. Payments to be Free and
Clear.

       

      (A) All sums
payable by each Borrower hereunder, whether in respect of principal, interest,
fees or otherwise, shall be paid without deduction for any present and future
taxes, levies, imposts, deductions, charges or withholdings imposed by any
government or any political subdivision 

       

      
        
          
          

        

        
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      or taxing
authority thereof (other than any tax on or measured by the net income, profits
or gains of any Lender) and all interest, penalties or similar liabilities with
respect thereto (collectively, “taxes”),
which amounts shall be paid by the applicable Borrower as provided in this Section
2.24.

       

      (B) Grossing-up of
Payments.  If: (a) any Borrower or any other Person is required
by law to make any deduction or withholding on account of any such taxes from
any sum paid or expressed to be payable by the applicable Borrower to any Lender
under this Agreement; or (b) any party to this Agreement (or any Person on its
behalf) other than any Borrower is required by law to make any deduction or
withholding from, or any payment on or calculated by reference to the amount of,
any such sum received or receivable (other than on account of any excluded
taxes) by any Lender under this Agreement then:

       

      (i) the
applicable party shall notify the Agent and, if such party is not the applicable
Borrower, the Agent will notify the applicable Borrower of any such requirement
or any change in any such requirement as soon as such party becomes aware of
it;

       

      (ii) the
applicable Borrower shall pay any such taxes before the later of (i) the date on
which penalties attached thereto become due and payable or (ii) fifteen (15)
days after the date of receipt by the applicable Borrower of such written
notification provided by the Agent in accordance with paragraph (i) if such
applicable party is not the applicable Borrower, such payment to be made (if the
liability to pay is imposed on such Borrower) for its own account or (if that
liability is imposed on any party to this Agreement) on behalf of and in the
name of that party; and

       

      (iii) the sum
payable by the applicable Borrower in respect of which the relevant deduction,
withholding or payment is required shall (except, in the case of any such
payment, to the extent that the amount thereof is not ascertainable when that
sum is paid) be increased to the extent necessary to ensure that, after the
making of that deduction, withholding or payment, that party receives on the due
date and retains (free from any liability in respect of any such deduction,
withholding or payment) a sum equal to that which it would have received and so
retained had no such deduction, withholding or payment been required or
made.

       

      2.25. Additional
Borrowers.

       

      (A) Additional Alternate
Currency Borrowers.  The Borrower may at any time or from time
to time, with the consent of the Agent, add as a party to this Agreement any
Subsidiary to be an Alternate Currency Borrower hereunder by the execution and
delivery to the Agent and the Lenders of (a) a duly completed Assumption Letter
by such Subsidiary, with the written consent of the Borrower at the foot thereof
and (b) such other guaranty and subordinated intercompany indebtedness documents
as may be reasonably required by the Agent and the Required
Lenders.  Upon such execution, delivery and consent, such Subsidiary
shall for all purposes be a party hereto as an Alternate Currency Borrower as
fully as if it had executed and delivered this Agreement.  So long as
the principal of and interest on any Advances made to any Alternate Currency
Borrower under this Agreement shall have been repaid or paid in full and all
other obligations of such Alternate Currency Borrower under this Agreement shall
have been fully performed, the Borrower may, by not less than five (5) Business
Days’ prior notice to the Agent (which shall promptly notify the Lenders
thereof), terminate such Subsidiary’s status as an “Alternate Currency
Borrower”.

       

      (B) Additional Subsidiary
Borrowers.  The Borrower may at any time add as a party to this
Agreement a Subsidiary to become a “Subsidiary Borrower” hereunder subject to
(a) the consent

       

      
        
          
          

        

        
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      of the
Agent and each Lender, (b) the receipt of evidence satisfactory to the Agent
that such Subsidiary would not, in its capacity as a Borrower hereunder, be
required by law to withhold or deduct any Taxes from or in respect of any sum
payable hereunder by such Subsidiary to the Agent or any Lender unless an
exemption from such requirement can be obtained by such Subsidiary and that no
other adverse tax, regulatory or other consequences would affect the Agent or
the Lender as a result of such Subsidiary’s status as a Borrower, (c) the
execution and delivery to the Agent of a duly completed Assumption Letter by
such Subsidiary, with the written consent of the Borrower appearing thereon and
(d) the execution and delivery to the Agent and the Lenders of each other
instrument, document and agreement required by Section
5.4.  Upon such satisfaction of all such conditions, such
Subsidiary shall for all purposes be a party hereto as a Subsidiary Borrower as
fully as if it had executed and delivered this Agreement.  So long as
the principal of and interest on any Advances made to any Subsidiary Borrower
under this Agreement shall have been repaid or paid in full and all other
obligations of such Subsidiary Borrower under this Agreement shall have been
fully performed, the Borrower may, by not less than five (5) Business Days’
prior notice to the Agent (which shall promptly notify the Lenders thereof),
terminate such Subsidiary’s status as a “Subsidiary Borrower”.

       

      2.26. Increase of Aggregate
Revolving Loan Commitment.

       

      (A) At any
time, the Borrower may request (in consultation with the Agent) that the
Aggregate Revolving Loan Commitment be increased by an aggregate amount of up to
$10,000,000 without the prior written consent of the Required Lenders, provided,
that, the Aggregate Revolving Loan Commitment shall at no time exceed $100,000,000.  Such request shall be
made in a written notice given to the Agent and the Lenders by the Borrower not
less than twenty (20) Business Days prior to the proposed effective date of such
increase, which notice (a “Commitment
Increase Notice”) shall specify the amount of the proposed increase in
the Aggregate Revolving Loan Commitment and the proposed effective date of such
increase.  No Lender shall have any obligation to increase its
Revolving Loan Commitment pursuant to a Commitment Increase Notice.

       

      (B) Not later
than three (3) Business Days prior to the proposed effective date, the Borrower
may notify the Agent of any financial institution that shall have agreed to
become a “Lender” party hereto (a “Proposed
New Lender”) in connection with the Commitment Increase
Notice.  Any Proposed New Lender shall be subject to the consent of
the Agent (which consent shall not be unreasonably withheld).  The
Agent shall notify the Borrower and the Lenders on or before the Business Day
immediately prior to the proposed effective date of the amount of each Lender’s
and Proposed New Lender’s Revolving Loan Commitment and the amount of the
Aggregate Revolving Loan Commitment, which amount shall be effective on the
following Business Day.

       

      (C) Any
increase in the Aggregate Revolving Loan Commitment shall be subject to the
following conditions precedent:  (i) the Borrower shall have obtained
the consent thereto of each Subsidiary of the Borrower party to a Guaranty or a
Foreign Pledge Agreement and its reaffirmation of any Loan Documents executed by
it, which consent and reaffirmation shall be in writing and in form and
substance reasonably satisfactory to the Agent, (ii) as of the date of the
Commitment Increase Notice and as of the proposed effective date of the increase
in the Aggregate Revolving Loan Commitment, all representations and warranties
set forth in Article
VI hereof shall be true and correct as though made on such date (unless
any such representation and warranty is made as of a specific date, in which
case, such representation and warranty shall be true and correct as of such
date) and no Default or Unmatured Default shall have occurred and then be
continuing, (iii) the Borrower, the Agent and each Proposed New Lender or Lender
that shall have agreed to provide a “Revolving Loan Commitment” in support of
such increase in the Aggregate Revolving Loan Commitment shall have executed and
delivered a Commitment and Acceptance (“Commitment
and Acceptance”) 

       

      
        
          
          

        

        
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      substantially
in the form of Exhibit Lhereto and (iv) the
Borrower, each Alternate Currency Borrower and any Proposed New Lender shall
otherwise have executed and delivered such other instruments, documents and
agreements as the Agent shall have reasonably requested in connection with such
increase.  If any fee shall be charged by the Lenders in connection
with any such increase, such fee shall be in accordance with then prevailing
market condition.  Upon satisfaction of the conditions precedent to
any increase in the Aggregate Revolving Loan Commitment, the Agent shall
promptly advise the Borrower and each Lender of the effective date of such
increase.  Upon the effective date of any increase in the Aggregate
Revolving Loan Commitment that is provided by a Proposed New Lender, such
Proposed New Lender shall be a party to this Agreement as a Lender and shall
have the rights and obligations of a Lender hereunder.  Nothing
contained herein shall constitute, or otherwise be deemed to be, a commitment on
the part of any Lender to increase its Revolving Loan Commitment hereunder at
any time.

       

      (D) Upon the
execution and delivery of such Commitment and Acceptance, the Agent shall
reallocate any outstanding Loans and L/C Obligations ratably among the Lenders
after giving effect to each such increase in the Aggregate Commitment; provided, that the
Borrower hereby agrees to compensate each Lender for all losses, expenses and
liabilities incurred by such Lender in connection with the sale and assignment
of any Eurocurrency Rate Loans hereunder on the terms and in the manner as set
forth in Article
IV.

       

      ARTICLE  III:   THE LETTER OF
CREDIT FACILITY

       

      3.1. Obligation to Issue Letters
of Credit.  Subject to the terms and conditions of this
Agreement and in reliance upon the representations, warranties and covenants of
the Borrower herein set forth, each Issuing Bank hereby agrees to issue for the
account of the Borrower or any Subsidiary Borrower through such Issuing Bank’s
branches as it and the Borrower may jointly agree, one or more Letters of Credit
denominated in Dollars or an Agreed Letter of Credit Currency in accordance with
this Article III,
from time to time during the period, commencing on the Closing Date and ending
on the Business Day prior to the Termination Date.

       

      3.2. Transitional
Provision.  Schedule 3.2 contains
a schedule of certain letters of credit issued for the account of the Borrower
or any Subsidiary Borrower prior to the Closing Date.  Subject to the
satisfaction of the conditions contained in Sections 5.1 and
5.2, from and
after the Closing Date such letters of credit shall be deemed to be Letters of
Credit issued pursuant to this Article
III.

       

      3.3. Types and
Amounts.  No Issuing Bank shall have any obligation to and no
Issuing Bank shall:

       

      (A) issue (or
amend) any Letter of Credit if on the date of issuance (or amendment), before or
after giving effect to the Letter of Credit requested hereunder, (i) the Dollar
Amount of the Revolving Credit Obligations at such time would exceed the
Aggregate Revolving  Loan Commitment at such time, or (ii) the
aggregate outstanding Dollar Amount of the L/C Obligations would exceed the
Maximum L/C Amount, (iii) the Dollar Amount of all Eurocurrency Rate Loans and
Letters of Credit in Agreed Currencies other than Dollars and Canadian Dollars,
when aggregated with the Dollar Amount of all Alternate Currency Loans in
Alternate Currencies other than Canadian Dollars, would exceed the Maximum
Eurocurrency Amount or (iv) the Dollar Amount of all Alternate Currency Loans in
Canadian Dollars, Eurocurrency Rate Loans in Canadian Dollars and Letters of
Credit in Canadian Dollars would exceed the Maximum Canadian Amount;
or

       

      
        
          
          

        

        
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      (B) issue (or
amend) any Letter of Credit which has an expiration date later than the date
which is the earlier of (x) one (1) year after the date of issuance thereof
or (y) five (5) Business Days immediately preceding the Termination Date;
provided that any Letter of
Credit with a one-year term may provide for additional one-year periods (which
in no event shall extend beyond the date referred to in the preceding
clause (y)) (an “Extended Letter of
Credit”); provided further that, upon the
applicable Borrower’s request, any such Letter of Credit which expires in the
final year prior to the Termination Date may have an expiry date which is no
later than the date which is one (1) year after the Termination Date if such
Letter of Credit is cash collateralized pursuant to Section 3.11 in an
amount and pursuant to arrangements, or covered by a letter of credit issued by
an issuer and in an amount, in each case acceptable to the Agent.

       

      3.4. Conditions.  In
addition to being subject to the satisfaction of the conditions contained in
Sections 5.1,
5.2 and 5.4, the obligation
of an Issuing Bank to issue any Letter of Credit is subject to the satisfaction
in full of the following conditions:

       

      (A) the
Borrower shall have delivered to the applicable Issuing Bank at such times and
in such manner as such Issuing Bank may reasonably prescribe, a request for
issuance of such Letter of Credit in substantially the form of Exhibit C hereto
(each such request a “Request
For Letter of Credit”), duly executed applications for such Letter of
Credit, and such other documents, instructions and agreements as may be required
pursuant to the terms thereof (all such applications, documents, instructions,
and agreements being referred to herein as the “L/C
Documents”), and the proposed Letter of Credit shall be reasonably
satisfactory to such Issuing Bank as to form and content; and

       

      (B) as of the
date of issuance no order, judgment or decree of any court, arbitrator or
Governmental Authority shall purport by its terms to enjoin or restrain the
applicable Issuing Bank from issuing such Letter of Credit and no law, rule or
regulation applicable to such Issuing Bank and no request or directive (whether
or not having the force of law) from a Governmental Authority with jurisdiction
over such Issuing Bank shall prohibit or request that such Issuing Bank refrain
from the issuance of Letters of Credit generally or the issuance of that Letter
of Credit.

       

      3.5. Procedure for Issuance of
Letters of Credit.

       

      (A) Subject
to the terms and conditions of this Article III and
provided that the applicable conditions set forth in Sections 5.1,
5.2 and 5.4 hereof have been
satisfied, the applicable Issuing Bank shall, on the requested date, issue a
Letter of Credit on behalf of the Borrower in accordance with such Issuing
Bank’s usual and customary business practices and, in this connection, such
Issuing Bank may assume that the applicable conditions set forth in Section 5.2
hereof have been satisfied unless it shall have received notice to the contrary
from the Agent or a Lender or has knowledge that the applicable conditions have
not been met.

       

      (B) The
applicable Issuing Bank shall give the Agent written or telex notice, or
telephonic notice confirmed promptly thereafter in writing, of the issuance of a
Letter of Credit, provided, however, that the
failure to provide such notice shall not result in any liability on the part of
such Issuing Bank.

       

      (C) No
Issuing Bank shall extend or amend any Letter of Credit unless the requirements
of this Section 3.5 are
met as though a new Letter of Credit was being requested and
issued.

       

      3.6. Letter of Credit
Participation.  On the date of this Agreement, with respect to
the Letters of Credit identified on Schedule 3.2, and
immediately upon the issuance of each Letter of Credit hereunder, 

       

      
        
          
          

        

        
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      each
Lender shall be deemed to have automatically, irrevocably and unconditionally
purchased and received from the applicable Issuing Bank an undivided interest
and participation in and to such Letter of Credit, the reimbursement and payment
obligations of the Borrower in respect thereof, and the liability of such
Issuing Bank thereunder (collectively, an “L/C
Interest”) in an amount equal to the Dollar Amount available for drawing
under such Letter of Credit multiplied by such Lender’s Pro Rata
Share.  Each Issuing Bank will notify each Lender promptly upon
presentation to it of an L/C Draft or upon any other draw under a Letter of
Credit.  On or before the Business Day on which an Issuing Bank makes
payment of each such L/C Draft or, in the case of any other draw on a Letter of
Credit, on demand by the Agent or the applicable Issuing Bank, each Lender shall
make payment to the Agent, for the account of the applicable Issuing Bank, in
immediately available funds in the Agreed Currency in an amount equal to such
Lender’s Pro Rata Share of the Dollar Amount of such payment or
draw.  The obligation of each Lender to reimburse the Issuing Banks
under this Section
3.6 shall be unconditional, continuing, irrevocable and
absolute.  In the event that any Lender fails to make payment to the
Agent of any amount due under this Section 3.6, the
Agent shall be entitled to receive, retain and apply against such obligation the
principal and interest otherwise payable to such Lender hereunder until the
Agent receives such payment from such Lender or such obligation is otherwise
fully satisfied; provided, however, that nothing
contained in this sentence shall relieve such Lender of its obligation to
reimburse the applicable Issuing Bank for such amount in accordance with this
Section
3.6.

       

      3.7. Reimbursement
Obligation.  The Borrower agrees unconditionally, irrevocably
and absolutely to pay immediately to the Agent, for the account of the Lenders,
the amount of each advance drawn under or pursuant to a Letter of Credit
(regardless of whether the account party in respect thereof is the Borrower or a
Subsidiary Borrower) or an L/C Draft related thereto (such obligation of the
Borrower to reimburse the Agent for an advance made under a Letter of Credit or
L/C Draft being hereinafter referred to as a “Reimbursement
Obligation” with respect to such Letter of Credit or L/C Draft; it being
understood and agreed that any Letter of Credit issued for the account of a
Subsidiary Borrower shall be deemed to be issued for the account of the Borrower
and the Borrower’s Reimbursement Obligation in respect of such Letter of Credit
or L/C Draft shall remain unconditional, irrevocable and absolute), each such
reimbursement to be made by the Borrower no later than the Business Day on which
the applicable Issuing Bank makes payment of each such L/C Draft or, if the
Borrower shall have received notice of a Reimbursement Obligation later than
12:00 p.m. (Chicago time), on any Business Day or on a day which is not a
Business Day, no later than 12:00 p.m. (Chicago time), on the immediately
following Business Day or, in the case of any other draw on a Letter of Credit,
the date specified in the demand of such Issuing Bank.  If the
Borrower at any time fails to repay a Reimbursement Obligation pursuant to this
Section 3.7,
the Borrower shall be deemed to have elected to borrow Revolving Loans from the
Lenders, as of the date of the advance giving rise to the Reimbursement
Obligation, equal in amount to the Dollar Amount of the unpaid Reimbursement
Obligation.  Such Revolving Loans shall be made as of the date of the
payment giving rise to such Reimbursement Obligation, automatically, without
notice and without any requirement to satisfy the conditions precedent otherwise
applicable to an Advance of Revolving Loans.  Such Revolving Loans
shall constitute a Floating Rate Advance, the proceeds of which Advance shall be
used to repay such Reimbursement Obligation.  If, for any reason, the
Borrower fails to repay a Reimbursement Obligation on the day such Reimbursement
Obligation arises and, for any reason, the Lenders are unable to make or have no
obligation to make Revolving Loans, then such Reimbursement Obligation shall
bear interest from and after such day, until paid in full, at the interest rate
applicable to a Floating Rate Advance.

       

      3.8. Letter of Credit
Fees.  The Borrower agrees to pay:

       

      
        
          
          

        

        
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      (A) quarterly,
in arrears, to the Agent for the ratable benefit of the Lenders, except as set
forth in Section
9.2, a letter of credit fee at a rate per annum equal to the Applicable
L/C Fee Percentage on the average daily outstanding Dollar Amount available for
drawing under all Letters of Credit;

       

      (B) quarterly,
in arrears, to the applicable Issuing Bank, a letter of credit fronting fee
equal to 0.125% per annum on the average daily outstanding face amount available
for drawing under all Letters of Credit issued by such Issuing Bank;
and

       

      (C) to the
applicable Issuing Bank, all customary fees and other issuance, amendment,
document examination, negotiation and presentment expenses and related charges
in connection with the issuance, amendment, presentation of L/C Drafts, and the
like customarily charged by such Issuing Banks with respect to standby and
commercial Letters of Credit, including, without limitation, standard
commissions with respect to commercial Letters of Credit, payable at the time of
invoice of such amounts.

       

      3.9. Issuing Bank Reporting
Requirements.  In addition to the notices required by Section 3.5(C),
each Issuing Bank shall, no later than the tenth (10th) Business Day following
the last day of each month, provide to the Agent, upon the Agent’s request,
schedules, in form and substance reasonably satisfactory to the Agent, showing
the date of issue, account party, Agreed Currency and amount in such Agreed
Currency, expiration date and the reference number of each Letter of Credit
issued by it outstanding at any time during such month and the aggregate amount
payable by the Borrower during such month.  In addition, upon the
request of the Agent, each Issuing Bank shall furnish to the Agent copies of any
Letter of Credit and any application for or reimbursement agreement with respect
to a Letter of Credit to which the Issuing Bank is party and such other
documentation as may reasonably be requested by the Agent.  Upon the
request of any Lender, the Agent will provide to such Lender information
concerning such Letters of Credit.

       

      3.10. Indemnification;
Exoneration.

       

      (A) In
addition to amounts payable as elsewhere provided in this Article III, the
Borrower hereby agrees to protect, indemnify, pay and save harmless the Agent,
each Issuing Bank and each Lender from and against any and all liabilities and
costs which the Agent, such Issuing Bank or such Lender may incur or be subject
to as a consequence, direct or indirect, of (i) the issuance of any Letter
of Credit other than, in the case of the applicable Issuing Bank, as a result of
its Gross Negligence or willful misconduct, as determined by the final judgment
of a court of competent jurisdiction, or (ii) the failure of the applicable
Issuing Bank to honor a drawing under a Letter of Credit as a result of any act
or omission, whether rightful or wrongful, of any present or future de jure or de facto Governmental
Authority (all such acts or omissions herein called “Governmental
Acts”).

       

      (B) As among
the Borrower, the Lenders, the Agent and the Issuing Banks, the Borrower assumes
all risks of the acts and omissions of, or misuse of such Letter of Credit by,
the beneficiary of any Letters of Credit.  In furtherance and not in
limitation of the foregoing, subject to the provisions of the Letter of Credit
applications and Letter of Credit reimbursement agreements executed by the
Borrower at the time of request for any Letter of Credit, neither the Agent, any
Issuing Bank nor any Lender shall be responsible (in the absence of Gross
Negligence or willful misconduct in connection therewith, as determined by the
final judgment of a court of competent jurisdiction):  (i) for
the form, validity, sufficiency, accuracy, genuineness or legal effect of any
document submitted by any party in connection with the application for and
issuance of the Letters of Credit, even if it should in fact prove to be in any
or all respects invalid, insufficient, inaccurate, fraudulent or forged;
(ii) for the 

      
        
          
          

        

        
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      validity
or sufficiency of any instrument transferring or assigning or purporting to
transfer or assign a Letter of Credit or the rights or benefits thereunder or
proceeds thereof, in whole or in part, which may prove to be invalid or
ineffective for any reason; (iii) for failure of the beneficiary of a
Letter of Credit to comply duly with conditions required in order to draw upon
such Letter of Credit; (iv) for errors, omissions, interruptions or delays
in transmission or delivery of any messages, by mail, cable, telegraph, telex,
or other similar form of teletransmission or otherwise; (v) for errors in
interpretation of technical trade terms; (vi) for any loss or delay in the
transmission or otherwise of any document required in order to make a drawing
under any Letter of Credit or of the proceeds thereof; (vii) for the
misapplication by the beneficiary of a Letter of Credit of the proceeds of any
drawing under such Letter of Credit; and (viii) for any consequences
arising from causes beyond the control of the Agent, the Issuing Banks and the
Lenders, including, without limitation, any Governmental Acts.  None
of the above shall affect, impair, or prevent the vesting of any Issuing Bank’s
rights or powers under this Section 3.10.

       

      (C) In
furtherance and extension and not in limitation of the specific provisions
hereinabove set forth, any action taken or omitted by any Issuing Bank under or
in connection with the Letters of Credit or any related certificates shall not,
in the absence of Gross Negligence or willful misconduct, as determined by the
final judgment of a court of competent jurisdiction, put the applicable Issuing
Bank, the Agent or any Lender under any resulting liability to the Borrower or
relieve the Borrower of any of its obligations hereunder to any such
Person.

       

      (D) Without
prejudice to the survival of any other agreement of the Borrower hereunder, the
agreements and obligations of the Borrower contained in this Section 3.10 shall
survive the payment in full of principal and interest hereunder, the termination
of the Letters of Credit and the termination of this Agreement.

       

      3.11. Cash
Collateral.  Notwithstanding anything to the contrary herein or
in any application for a Letter of Credit, upon payout or termination of this
Agreement in full in cash or upon the issuance of an Extended Letter of Credit,
the Borrower shall, on the Business Day that it receives Agent’s demand, deliver
to the Agent for the benefit of the Lenders and the Issuing Banks, cash, or
other collateral of a type satisfactory to the Required Lenders, having a value,
as determined by such Lenders, equal to one hundred five percent (105%) of the
aggregate Dollar Amount of the outstanding L/C Obligations (or, in the case of
an Extended Letter of Credit, the L/C Obligations in respect
thereof).  In addition, if the Revolving Credit Availability is at any
time less than the Dollar Amount of all contingent L/C Obligations outstanding
at any time, the Borrower shall deposit cash collateral with the Agent in
Dollars in an amount equal to one-hundred five percent (105%) of the Dollar
Amount by which such L/C Obligations exceed such Revolving Credit
Availability.  Any such collateral shall be held by the Agent in a
separate account appropriately designated as a cash collateral account in
relation to this Agreement and the Letters of Credit and retained by the Agent
for the benefit of the Lenders and the Issuing Banks as collateral security for
the Borrower’s obligations in respect of this Agreement and each of the Letters
of Credit and L/C Drafts.  Such amounts shall be applied to reimburse
the Issuing Banks for drawings or payments under or pursuant to Letters of
Credit or L/C Drafts, or if no such reimbursement is required, to payment of
such of the other Obligations as the Agent shall determine.  If no
Default shall be continuing, amounts remaining in any cash collateral account
established pursuant to this Section 3.11 which
are not to be applied to reimburse an Issuing Bank for amounts actually paid or
to be paid by such Issuing Bank in respect of a Letter of Credit or L/C Draft,
shall be returned to the Borrower within one (1) Business Day (after deduction
of the Agent’s expenses incurred in connection with such cash collateral
account).

       

      ARTICLE  IV:   CHANGE IN
CIRCUMSTANCES

       

      
        
          
          

        

        
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      4.1. Yield
Protection.  If any law or any governmental or
quasi-governmental rule, regulation, policy, guideline or directive (whether or
not having the force of law) adopted after the date of this Agreement and having
general applicability to all banks within the jurisdiction in which such Lender
operates (excluding, for the avoidance of doubt, the effect of and phasing in of
capital requirements or other regulations or guidelines passed prior to the date
of this Agreement), or any interpretation or application thereof by any
Governmental Authority charged with the interpretation or application thereof,
or the compliance of any Lender therewith,

       

      (A) subjects
any Lender or any applicable Lending Installation to any tax, duty, charge or
withholding on or from payments due from any Borrower (excluding taxation of the
overall net income of any Lender or taxation of a similar basis, which are
governed by Section
2.15(E)), or changes the basis of taxation of payments to any Lender in
respect of its Loans, its L/C Interests, the Letters of Credit or other amounts
due it hereunder, or

       

      (B) imposes
or increases or deems applicable any reserve, assessment, insurance charge,
special deposit or similar requirement against assets of, deposits with or for
the account of, or credit extended by, any Lender or any applicable Lending
Installation (other than reserves and assessments taken into account in
determining the interest rate applicable to Eurocurrency Rate Loans) with
respect to its Loans, L/C Interests or the Letters of Credit, or

       

      (C) imposes
any other condition the result of which is to increase the cost to any Lender or
any applicable Lending Installation of making, funding or maintaining the Loans,
the L/C Interests or the Letters of Credit or reduces any amount received by any
Lender or any applicable Lending Installation in connection with Loans or
Letters of Credit, or requires any Lender or any applicable Lending Installation
to make any payment calculated by reference to the amount of Loans or L/C
Interests held or interest received by it or by reference to the Letters of
Credit, by an amount deemed material by such Lender;

       

      and the
result of any of the foregoing is to increase the cost to that Lender of making,
renewing or maintaining its Loans, L/C Interests, or Letters of Credit or to
reduce any amount received under this Agreement, then, within fifteen (15) days
after receipt by the applicable Borrower of written demand by such Lender
pursuant to Section
4.5, the applicable Borrower shall pay such Lender that portion of such
increased expense incurred or reduction in an amount received which such Lender
determines is attributable to making, funding and maintaining its Loans, L/C
Interests, Letters of Credit and its Revolving Loan Commitment.

       

      4.2. Changes in Capital Adequacy
Regulations.  If a Lender determines (i) the amount of capital
required or expected to be maintained by such Lender, any Lending Installation
of such Lender or any corporation controlling such Lender is increased as a
result of a “Change” (as defined below), and (ii) such increase in capital will
result in an increase in the cost to such Lender of maintaining its Loans, L/C
Interests, the Letters of Credit or its obligation to make Loans hereunder,
then, within fifteen (15) days after receipt by the applicable Borrower of
written demand by such Lender pursuant to Section 4.5, the
applicable Borrower shall pay such Lender the amount necessary to compensate for
any shortfall in the rate of return on the portion of such increased capital
which such Lender determines is attributable to this Agreement, its Loans, its
L/C Interests, the Letters of Credit or its obligation to make Loans hereunder
(after taking into account such Lender’s policies as to capital
adequacy).

       

      4.3. Availability of Types of
Advances.  If (i) any Lender determines that maintenance of its
Eurocurrency Rate Loans at a suitable Lending Installation would violate any
applicable law, rule, regulation or directive, whether or not having the force
of law, or (ii) the Required Lenders determine that 

       

      
        
          
          

        

        
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      (x)
deposits of a type, currency or maturity appropriate to match fund Eurocurrency
Rate Advances are not available or (y) the interest rate applicable to a
Eurocurrency Rate Advance or Alternate Currency Advance does not accurately
reflect the cost of making or maintaining such an Advance, then the Agent shall
suspend the availability of the affected Type of Advance and, in the case of any
occurrence set forth in clause (i), require
any Advances of the affected Type to be repaid or converted into another
Type.

       

      4.4. Funding
Indemnification.  Subject to Sections 2.5(B)(i),
(ii), and (iii), if any payment
of a Eurocurrency Rate Advance occurs on a date which is not the last day of the
applicable Interest Period, whether because of acceleration, prepayment, or
otherwise, or a Eurocurrency Rate Advance is not made on the date specified by
the Borrowers for any reason other than default by the Lenders, the Borrowers
shall indemnify each Lender for any loss or cost incurred by it resulting
therefrom, including, without limitation, any loss or cost in liquidating or
employing deposits acquired to fund or maintain the Eurocurrency Rate
Advance.  In connection with any assignment by any Lender of any
portion of the Loans made pursuant to Section 13.3, and if,
notwithstanding the provisions of Section 2.4, a
Borrower has requested and the Agent has consented to the use of the
Eurocurrency Rate, such Borrower shall be deemed to have repaid all outstanding
Eurocurrency Rate Advances as of the effective date of such assignment and
reborrowed such amount as a Floating Rate Advance and/or Eurocurrency Rate
Advance (chosen in accordance with the provisions of Section 2.4) and the
indemnification provisions under this Section 4.4 shall
apply.

       

      4.5. Lender Statements; Survival
of Indemnity.  If reasonably possible, each Lender shall
designate an alternate Lending Installation with respect to its Eurocurrency
Rate Loans to reduce any liability of the Borrowers to such Lender under Sections 4.1 and
4.2 or to avoid
the unavailability of a Type of Advance under Section 4.3, so long
as such designation is not disadvantageous to such Lender.  Each
Lender requiring compensation pursuant to Section 2.15(E) or to
this Article IV
shall use its reasonable efforts to notify the applicable Borrower and the Agent
in writing of any Change, law, policy, rule, guideline or directive giving rise
to such demand for compensation not later than ninety (90) days following the
date upon which the responsible account officer of such Lender knows or should
have known of such Change, law, policy, rule, guideline or
directive.  Any demand for compensation pursuant to this Article IV shall be
in writing and shall state the amount due, if any, under Section 4.1, 4.2 or 4.4 and shall set
forth in reasonable detail the calculations upon which such Lender determined
such amount.  Such written demand shall be rebuttably presumed correct
for all purposes.  Determination of amounts payable under such
Sections in connection with a Eurocurrency Rate Loan shall be calculated as
though each Lender funded its Eurocurrency Rate Loan through the purchase of a
deposit of the type, currency and maturity corresponding to the deposit used as
a reference in determining the Eurocurrency Rate applicable to such Loan,
whether in fact that is the case or not.  The obligations of the
Borrowers under Sections 4.1, 4.2 and 4.4 shall survive
payment of the Obligations and termination of this Agreement.

       

      ARTICLE  V:   CONDITIONS
PRECEDENT

       

      5.1. Effectiveness.  The
Revolving Loan Commitments of the Lenders shall not become effective unless and
until the Borrower has furnished, on or before the Closing Date, to the Agent
each of the following, with (if applicable) sufficient copies for the Lenders,
all in form and substance satisfactory to the Agent and the
Lenders:

       

      (1) Copies of
the Certificate of Incorporation of the Borrower, together with all amendments
and a certificate of good standing, both certified by the appropriate
governmental officer in its jurisdiction of incorporation;

       

      
        
          
          

        

        
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      (2) Copies,
certified by the Secretary or Assistant Secretary of the Borrower, of its
By-Laws and of its Board of Directors’ resolutions (and resolutions of other
bodies, if any are deemed necessary by counsel for any Lender) authorizing the
execution of the Loan Documents;

       

      (3) An
incumbency certificate, executed by the Secretary or Assistant Secretary of the
Borrower, which shall identify by name and title and bear the signature of the
officers of the Borrower authorized to sign the Loan Documents and to make
borrowings hereunder, upon which certificate the Lenders shall be entitled to
rely until informed of any change in writing by the Borrower;

       

      (4) A
certificate, in form and substance satisfactory to the Agent, signed by the
chief financial officer of the Borrower, stating that on the date of this
Agreement all the representations in this Agreement are true and correct in all
material respects (unless such representation and warranty is made as of a
specific date, in which case, such representation and warranty shall be true in
all material respects as of such date) and no Default or Unmatured Default has
occurred and is continuing;

       

      (5) The
written opinions of each opinion of the Borrower’s US counsel, addressed to the
Agent and the Lenders, in substantially the form attached hereto as Exhibit
E;

       

      (6) The Agent
(or its counsel) shall have received from (i) each party hereto either (A) a
counterpart of this Agreement signed on behalf of such party or (B) written
evidence satisfactory to the Agent (which may include telecopy or electronic
transmission of a signed signature page of this Agreement) that such party has
signed a counterpart of this Agreement and (ii) duly executed copies of the Loan
Documents and such other documents as the Agent or any Lender or its counsel may
have reasonably requested, including, without limitation, all of the documents
reflected on the List of Closing Documents attached as Exhibit F to this
Agreement;

       

      (7) The Agent
shall have received a certificate, dated the Closing Date and signed by the
Authorized Officer of the Borrower, confirming compliance with the conditions
set forth in Section
5.2;

       

      (8) Evidence
satisfactory to the Agent that the Borrower has paid to the Agent and the
Arranger the fees agreed to in the fee letter dated December 4, 2009, among the
Agent, the Arranger and the Borrower;

       

      (9) All legal
(including tax implications) and regulatory matters shall be satisfactory to the
Agent and the Lenders;

       

      (10) The
initial Loans shall have been made in compliance with all applicable
requirements of Regulation U, Regulation T and Regulation X; and

       

      5.2. Each Advance and Letter of
Credit.  The Lenders shall not be required to make any Advance,
or issue any Letter of Credit, unless on the applicable Borrowing Date, or in
the case of a Letter of Credit, the date on which the Letter of Credit is to be
issued:

       

      (A) There
exists no Default or Unmatured Default;

       

      (B) The
representations and warranties contained in Article VI are
true and correct in all material respects as of such Borrowing Date (unless such
representation and warranty is made as of a 

       

      
        
          
          

        

        
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      specific
date, in which case, such representation and warranty shall be true in all
material respects as of such date) except for changes in the Schedules to this
Agreement reflecting transactions permitted by or not in violation of this
Agreement or reflecting changes made on or prior to the Closing Date that are
not reasonably expected to evidence a Material Adverse Effect; and

       

      (C) (i) The
Revolving Credit Obligations do not, and after making such proposed Advance or
issuing such Letter of Credit would not, exceed the Aggregate Revolving Loan
Commitment, (ii) the aggregate outstanding principal Dollar Amount of all
Eurocurrency Rate Advances in Agreed Currencies other than Dollars and Canadian
Dollars and all L/C Obligations in Agreed Letter of Credit Currencies other than
Dollars and Canadian Dollars and all Alternate Currency Loans in Alternate
Currencies other than Canadian Dollars does not and would not exceed the Maximum
Eurocurrency Amount, (iii) the aggregate outstanding principal Dollar Amount of
all Eurocurrency Rate Advances in Canadian Dollars, all Alternate Currency Loans
in Canadian Dollars and all L/C Obligations in Canadian Dollars does not and
would not exceed the Maximum Canadian Amount and (iv) the aggregate
outstanding Dollar Amount of all L/C Obligations does not and would not exceed
the Maximum L/C Amount.

       

      Each
Borrowing/Conversion/Continuation Notice with respect to each such Advance and
the letter of credit application with respect to each Letter of Credit shall
constitute a representation and warranty by the Borrower that the conditions
contained in Sections 5.2(A),
(B) and (C)
have been satisfied.  Any Lender may require a duly completed
officer’s certificate in substantially the form of Exhibit G hereto
and/or a duly completed compliance certificate in substantially the form of
Exhibit H
hereto as a condition to making an Advance.

       

      5.3. Initial Advance to Each New
Alternate Currency Borrower.  No Alternate Currency Bank shall
be required to make any Alternate Currency Loans, in each case, to a new
Alternate Currency Borrower added after the Closing Date unless the Borrower has
furnished or caused to be furnished to the Agent with sufficient copies for the
Lenders:

       

      (a) The
Assumption Letter executed and delivered by such Alternate Currency Borrower and
containing the written consent of the Borrower thereon, as contemplated by Article
II;

       

      (b) Copies of
the Certificate of Incorporation (or other comparable constituent document) of
the Alternate Currency Borrower, together with all amendments and a certificate
of good standing (or
equivalent thereof, to the extent obtainable in any jurisdiction outside the
United States), both certified by the appropriate governmental officer in
its jurisdiction of organization;

       

      (c) Copies,
certified by the Secretary or Assistant Secretary of the Alternate Currency
Borrower, of its regulations (or other comparable governing document) and of its
Board of Directors’ (or comparable governing body’s) resolutions (and
resolutions of other bodies, if any are deemed necessary by the Agent) approving
the Assumption Letter;

       

      (d) An
incumbency certificate, executed by the Secretary, Assistant Secretary, Director
or Authorized Officer of the Alternate Currency Borrower, which shall identify
by name and title and bear the signature of the officers of such Alternate
Currency Borrower authorized to sign the Assumption Letter and the other
documents to be executed and delivered by such Alternate Currency Borrower
hereunder, upon which certificate the Agent and the Lenders shall be entitled to
rely until informed of any change in writing by the Borrower;

       

      
        
          
          

        

        
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      (e) An
opinion of counsel to such Alternate Currency Borrower, in a form reasonably
acceptable to the Agent and its counsel; and

       

      (f) Such
other instruments, documents or agreements as the Agent or its counsel may
reasonably request, all in form and substance reasonably satisfactory to the
Agent and its counsel.

       

      5.4. Initial Advance to Each New
Subsidiary Borrower.  Without in any way limiting the
applicability of the foregoing Sections 5.1 and 5.2, the Lenders shall not be
required to make any Advance hereunder, or issue any Letter of Credit, in each
case, to or with respect to any Subsidiary Borrower unless the Borrower or such
Subsidiary Borrower has furnished or caused to be furnished to the Agent with
sufficient copies for the Lenders:

       

      (a) The
Assumption Letter executed and delivered by such Subsidiary Borrower and
containing the written consent of the Borrower thereon, as contemplated by Article
II;

       

      (b) Copies
of the Certificate of Incorporation (or other comparable constituent document)
of such Subsidiary Borrower, together with all amendments and a certificate of
good standing (or equivalent thereof, to the extent obtainable in any
jurisdiction outside the United States), both certified by the appropriate
governmental officer in its jurisdiction of
organization;

       

      (c) Copies, certified by
the Secretary or Assistant Secretary of such Subsidiary Borrower, of its By-Laws
(or other comparable governing document) and of its Board of Directors’ (or
comparable governing body’s) resolutions (and resolutions of other bodies, if
any are deemed necessary by the Agent) approving the Assumption
Letter;

       

      (d) An incumbency certificate, executed by the Secretary,
Assistant Secretary, Director or Authorized Officer of such Subsidiary Borrower,
which shall identify by name and title and bear the signature of the officers of
such Subsidiary Borrower authorized to sign the Assumption Letter and the other
documents to be executed and delivered by such Subsidiary Borrower hereunder,
upon which certificate the Agent and the  Lenders shall be entitled to
rely until informed of any change in writing by the such Subsidiary
Borrower;

       

      (e) An opinion of counsel to
such Subsidiary Borrower in a form reasonably acceptable to the Agent and its
counsel; and

       

      (f) Such
other instruments, documents or agreements as the Agent or its counsel may
reasonably request, all in form and substance reasonably satisfactory to the
Agent and its counsel.

       

      ARTICLE  VI:   REPRESENTATIONS
AND WARRANTIES

       

      In order
to induce the Agent and the Lenders to enter into this Agreement and to make the
Loans and the other financial accommodations to the Borrowers and to issue the
Letters of Credit described herein, the Borrower represents and warrants as
follows to each Lender and the Agent as of the date of this Agreement and on the
Closing Date, giving effect to the consummation of the transactions contemplated
by the Loan Documents on the Closing Date, and thereafter on each date as
required by Section
5.2 or 5.4, as
applicable:

       

      6.1. Organization; Corporate
Powers.  The Borrower and each of its Subsidiaries (i) is
a corporation duly organized, validly existing and in good standing under the
laws of the jurisdiction of its organization other than Miramar which is not in
good standing in the State of California, (ii) is duly 

       

      
        
          
          

        

        
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      qualified
to do business as a foreign corporation and is in good standing under the laws
of each jurisdiction in which failure to be so qualified and in good standing
could not reasonably be expected to have a Material Adverse Effect, and
(iii) has all requisite corporate power and authority to own, operate and
encumber its property and to conduct its business as presently conducted and as
proposed to be conducted.  The Borrower represents that Miramar has no
assets with a value in excess of $1,000.

       

      6.2. Authority.

       

      (A) The
Borrower and each of its Subsidiaries has the requisite corporate power and
authority to execute, deliver and perform each of the Loan Documents which have
been executed by it as required by this Agreement and the other Loan Documents
on or prior to Closing Date and (ii) to file the Loan Documents which have
been filed by it as required by this Agreement, the other Loan Documents or
otherwise on or prior to the Closing Date with any Governmental
Authority.

       

      (B) The
execution, delivery, performance and filing, as the case may be, of each of the
Loan Documents which have been executed or filed as required by this Agreement,
the other Loan Documents or otherwise on or prior to the Closing Date and to
which the Borrower or any of its Subsidiaries is party, and the consummation of
the transactions contemplated thereby, have been duly approved by the respective
boards of directors and, if necessary, the shareholders of the Borrower and its
Subsidiaries, and such approvals have not been rescinded.  No other
corporate action or proceedings on the part of the Borrower or its Subsidiaries
are necessary to consummate such transactions.

       

      (C) Each of
the Loan Documents to which the Borrower or any of its Subsidiaries is a party
has been duly executed, delivered or filed, as the case may be, by it and
constitutes its legal, valid and binding obligation, enforceable against it in
accordance with its terms (except as enforceability may be limited by
bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’
rights generally), is in full force and effect and no material term or condition
thereof has been amended, modified or waived from the terms and conditions
contained in the Loan Documents delivered to the Agent pursuant to Section 5.1 without
the prior written consent of the Agent, and the Borrower and its Subsidiaries
have, and, to the best of the Borrower’s and its Subsidiaries’ knowledge, all
other parties thereto have, performed and complied with all the terms,
provisions, agreements and conditions set forth therein and required to be
performed or complied with by such parties on or before the Closing Date, and no
unmatured default, default or breach of any covenant by any such party exists
thereunder.

       

      6.3. No Conflict; Governmental
Consents.  The execution, delivery and performance of each of
the Loan Documents to which the Borrower or any of its Subsidiaries is a party
do not and will not (i) conflict with the certificate or articles of
incorporation or by-laws of the Borrower or any such Subsidiary,
(ii) constitute a tortious interference with any Contractual Obligation of
any Person or conflict with, result in a breach of or constitute (with or
without notice or lapse of time or both) a default under any Requirement of Law
(including, without limitation, any Environmental Property Transfer Act) or
Contractual Obligation of the Borrower or any such Subsidiary, or require
termination of any Contractual Obligation, except such interference, breach,
default or termination which individually or in the aggregate could not
reasonably be expected to have a Material Adverse Effect, (iii) with respect to
the Loan Documents, constitute a tortious interference with any Contractual
Obligation of any Person or conflict with, result in a breach of or constitute
(with or without notice or lapse of time or both) a default under any
Requirement of Law (including, without limitation, any Environmental Property
Transfer Act) or Contractual Obligation of the Borrower or any such Subsidiary,
or require termination of any Contractual Obligation, except such interference,
breach, default or termination which individually or in the
aggregate

       

      
        
          
          

        

        
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      could not
reasonably be expected to have a Material Adverse Effect, (iv) result in or
require the creation or imposition of any Lien whatsoever upon any of the
property or assets of the Borrower or any such Subsidiary, other than Liens
permitted or created by the Loan Documents, or (v) require any approval of
the Borrower’s or any such Subsidiary’s Board of Directors or shareholders
except such as have been obtained.  Except as set forth on Schedule 6.3 to
this Agreement, the execution, delivery and performance of each of the Loan
Documents to which the Borrower or any of its Subsidiaries is a party do not and
will not require any registration with, consent or approval of, or notice to, or
other action to, with or by any Governmental Authority, including under any
Environmental Property Transfer Act, except filings, consents or notices which
have been made, obtained or given, or which, if not made, obtained or given,
individually or in the aggregate could not reasonably be expected to have a
Material Adverse Effect.

       

      6.4. Financial
Statements.

       

      (A) The
consolidated balance sheet, income statements and statements of cash flow of the
Borrower and its Subsidiaries as of September 30, 2009, copies of which have
been delivered to the Lenders, present on a consolidated basis the consolidated
financial condition of the Borrower and such Subsidiaries as of such date, and
reflect on a consolidated basis those liabilities reflected in the notes
thereto.

       

      (B) Complete
and accurate copies of  the audited financial statements and the audit
report related thereto of the Borrower and its Subsidiaries as at December 31,
2007 and December 31, 2008 have been delivered to the Agent and each
Lender.

       

      6.5. No Material Adverse
Change

       

      (A) Since
December 31, 2008 up to the Closing Date, there has occurred no change in
the business, properties, condition (financial or otherwise), performance or
results of operations of the Borrower, or the Borrower and its Subsidiaries
taken as a whole or any other event which has had or could reasonably be
expected to have a Material Adverse Effect.

       

      (B) Since the
Closing Date, there has occurred no change in the business, properties,
condition (financial or otherwise), performance or results of operations of the
Borrower or the Borrower and its Subsidiaries taken as a whole or any other
event which has had or could reasonably be expected to have a Material Adverse
Effect.

       

      6.6. Taxes.

       

      (A) Tax
Examinations.  All material deficiencies which have been
asserted against the Borrower or any of the Borrower’s Subsidiaries as a result
of any federal, state, local or foreign tax examination for each taxable year in
respect of which an examination has been conducted have been fully paid or
finally settled or are being contested in good faith, and as of the Closing Date
no issue has been raised by any taxing authority in any such examination which,
by application of similar principles, reasonably can be expected to result in
assertion by such taxing authority of a material deficiency for any other year
not so examined which has not been reserved for in the Borrower’s consolidated
financial statements to the extent, if any, required by Agreement Accounting
Principles.  Except as permitted pursuant to Section 7.2(D),
neither the Borrower nor any of the Borrower’s Subsidiaries anticipates any
material tax liability with respect to the years which have not been closed
pursuant to applicable law.

       

      
        
          
          

        

        
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      (B) Payment of
Taxes.  All tax returns and reports of the Borrower and its
Subsidiaries required to be filed have been timely filed, and all material
taxes, assessments, fees and other governmental charges thereupon and upon their
respective property, assets, income and franchises which are shown in such
returns or reports to be due and payable have been paid except those items which
are being contested in good faith and have been reserved for in accordance with
Agreement Accounting Principles.  The Borrower has no knowledge of any
proposed tax assessment against the Borrower or any of its Subsidiaries that
will have or could reasonably be expected to have a Material Adverse
Effect.

       

      6.7. Litigation; Loss
Contingencies and Violations.  Except as set forth in Schedule 6.7 to
this Agreement, there is no action, suit, proceeding, arbitration or (to the
Borrower’s knowledge) investigation before or by any Governmental Authority or
private arbitrator pending or, to the Borrower’s knowledge, threatened against
the Borrower or any of its Subsidiaries or any property of any of them (i)
challenging the validity or the enforceability of any material provision of the
Loan Documents or (ii) which will have or could reasonably be expected to have a
Material Adverse Effect.  There is no material loss contingency within
the meaning of Agreement Accounting Principles which has not been reflected in
the consolidated financial statements of the Borrower prepared and delivered
pursuant to Section
7.1(A) for the fiscal period during which such material loss contingency
was incurred.  Neither the Borrower nor any of its Subsidiaries is
(A) in violation of any applicable Requirements of Law which violation will
have or could reasonably be expected to have a Material Adverse Effect, or
(B) subject to or in default with respect to any final judgment, writ,
injunction, restraining order or order of any nature, decree, rule or regulation
of any court or Governmental Authority which will have or could reasonably be
expected to have a Material Adverse Effect.

       

      6.8. Subsidiaries.  Schedule 6.8 to
this Agreement (i) contains a description of the corporate structure of the
Borrower, its Subsidiaries and any other Person in which the Borrower or any of
its Subsidiaries holds an Equity Interest; and (ii) accurately sets forth
(A) the correct legal name, the jurisdiction of incorporation and the
jurisdictions in which each of the Borrower and the direct and indirect
Subsidiaries of the Borrower are qualified to transact business as a foreign
corporation, (B) the authorized, issued and outstanding shares of each
class of Capital Stock of the Borrower and each of its Subsidiaries and the
owners of such shares (both as of the Closing Date and on a fully-diluted
basis), and (C) a summary of the direct and indirect partnership, joint venture,
or other Equity Interests, if any, of the Borrower and each Subsidiary of the
Borrower in any Person that is not a corporation.  Except as disclosed
on Schedule
6.8, none of the issued and outstanding Capital Stock of the Borrower or
any of the Borrower’s Subsidiaries is subject to any vesting, redemption, or
repurchase agreement, and there are no warrants or options outstanding with
respect to such Capital Stock.  The outstanding Capital Stock of the
Borrower and each of the Borrower’s Subsidiaries is duly authorized, validly
issued, fully paid and nonassessable and is not Margin Stock.

       

      6.9. ERISA.  Except
as disclosed on Schedule 6.9, no
Benefit Plan has incurred any accumulated funding deficiency (as defined in
Sections 302(a)(2) of ERISA and 412(a) of the Code) whether or not
waived.  Neither the Borrower nor any member of the Controlled Group
has incurred any material liability to the PBGC which remains outstanding other
than the payment of premiums, and there are no premium payments which have
become due which are unpaid.  Schedule B to the most recent
annual report filed with the IRS with respect to each Benefit Plan and furnished
to the Lenders is complete and accurate.  Since the date of each such
Schedule B, there has been no material adverse change in the funding status
or financial condition of the Benefit Plan relating to such
Schedule B.  Neither the Borrower nor any member of the
Controlled Group has (i) failed to make a required contribution or payment
to a Multiemployer Plan or (ii) made a complete or partial withdrawal under
Sections 4203 or 

       

      
        
          
          

        

        
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      4205 of
ERISA from a Multiemployer Plan.  Neither the Borrower nor any member
of the Controlled Group has failed to make a required installment or any other
required payment under Section 412 of the Code on or before the due date
for such installment or other payment.  Neither the Borrower nor any
member of the Controlled Group is required to provide security to a Benefit Plan
under Section 401(a)(29) of the Code due to a Plan amendment that results
in an increase in current liability for the plan year.  Except as set
forth on Schedule
6.9, neither the Borrower nor any of its Subsidiaries maintains or
contributes to any employee welfare benefit plan within the meaning of Section
3(1) of ERISA which provides benefits to employees after termination of
employment other than as required by Section 601 of ERISA.  Each Plan
which is intended to be qualified under Section 401(a) of the Code as currently
in effect is so qualified in all material respects, and each trust related to
any such Plan is exempt from federal income tax under Section 501(a) of the Code
as currently in effect.  The Borrower and all Subsidiaries are in
compliance in all material respects with the responsibilities, obligations and
duties imposed on them by ERISA and the Code with respect to all
Plans.  Neither the Borrower nor any of its Subsidiaries nor any
fiduciary of any Plan has engaged in a nonexempt prohibited transaction
described in Sections 406 of ERISA or 4975 of the Code which could reasonably be
expected to subject the Borrower to liability in excess of
$5,000,000.  Neither the Borrower nor any member of the Controlled
Group has taken or failed to take any action which would constitute or result in
a Termination Event, which action or inaction could reasonably be expected to
subject the Borrower or any of its Subsidiaries to liability, individually or in
the aggregate, in excess of $5,000,000.  Neither the Borrower nor any
Subsidiary is subject to any liability under Sections 4063, 4064, 4069, 4204 or
4212(c) of ERISA and no other member of the Controlled Group is subject to any
liability under Sections 4063, 4064, 4069, 4204 or 4212(c) of ERISA which
could reasonably be expected to subject the Borrower or any of its Subsidiaries
to liability, individually or in the aggregate, in excess of $5,000,000 (other
than liabilities of any ERISA affiliate which could not, by operation of law or
otherwise, become a liability of the Borrower or any
Subsidiary).  Except as set forth on Schedule 6.9, neither
the Borrower nor any of its Subsidiaries has, by reason of the transactions
contemplated hereby, any obligation to make any payment to any employee pursuant
to any Plan or existing contract or arrangement.

       

      6.10. Accuracy of
Information.  To the knowledge of the Borrower, the
information, exhibits and reports furnished by or on behalf of the Borrower and
any of its Subsidiaries to the Agent or to any Lender in connection with the
negotiation of, or compliance with, the Loan Documents, the representations and
warranties of the Borrower and its Subsidiaries contained in the Loan Documents,
and all certificates and documents delivered to the Agent and the Lenders
pursuant to the terms thereof, taken as a whole, do not contain as of the date
thereof any untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements contained herein or therein, in light
of the circumstances under which they were made, not misleading in any material
respect.

       

      6.11. Securities
Activities.  Neither the Borrower nor any of its Subsidiaries
is engaged in the business of extending credit for the purpose of purchasing or
carrying Margin Stock.

       

      6.12. Material
Agreements.  Neither the Borrower nor any Subsidiary is a party
to any Contractual Obligation which, as of the Closing Date or as of the date on
which such Contractual Obligation was incurred individually or in the aggregate
could reasonably be expected to have a Material Adverse
Effect.  Neither Borrower nor any Subsidiary is subject to any charter
or other corporate restriction which individually or in the aggregate has had or
could reasonably be expected to have a Material Adverse
Effect.  Neither the Borrower nor any of its Subsidiaries has received
written notice that (i) it is in default in the performance, observance or
fulfillment of any of the obligations, covenants or conditions contained in any
Contractual Obligation applicable to it, or (ii) any condition exists
which, with the giving of notice or the lapse of time or both, would constitute
a default with respect to any such

       

      
        
          
          

        

        
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      Contractual
Obligation, in each case, except where such default or defaults, if any,
individually or in the aggregate could not reasonably be expected to have a
Material Adverse Effect.

       

      6.13. Compliance with
Laws.  The Borrower and its Subsidiaries are in compliance with
all Requirements of Law applicable to them and their respective businesses, in
each case where the failure to so comply individually or in the aggregate could
reasonably be expected to have a Material Adverse Effect.

       

      6.14. Assets and
Properties.  The Borrower and each of its Subsidiaries has good
and marketable title to all of its assets and properties (tangible and
intangible, real or personal) owned by it or a valid leasehold interest in all
of its leased assets (except insofar as marketability may be limited by any laws
or regulations of any Governmental Authority affecting such assets), and all
such assets and property are free and clear of all Liens, except Liens permitted
under Section 7.3(C).  Substantially
all of the assets and properties owned by, leased to or used by the Borrower
and/or each such Subsidiary of the Borrower are in adequate operating condition
and repair, ordinary wear and tear excepted.  Neither this Agreement
nor any other Loan Document, nor any transaction contemplated under any such
agreement, will affect any right, title or interest of the Borrower or such
Subsidiary in and to any of such assets in a manner that could reasonably be
expected to have a Material Adverse Effect.

       

      6.15. Statutory Indebtedness
Restrictions.  Neither the Borrower nor any of its Subsidiaries
is subject to regulation under the Public Utility Holding Company Act of 1935,
the Federal Power Act, the Interstate Commerce Act, or the Investment Company
Act of 1940, or any other federal or state statute or regulation which limits
its ability to incur indebtedness or its ability to consummate the transactions
contemplated hereby.

       

      6.16. Insurance.  Schedule 6.16 to
this Agreement accurately sets forth as of the Closing Date all insurance
policies and programs currently in effect with respect to the respective
properties and assets and business of the Borrower and its Subsidiaries,
specifying, for each such policy and program, (i) the amount thereof,
(ii) the risks insured against thereby, (iii) the name of the insurer
and each insured party thereunder, (iv) the policy or other identification
number thereof, (v) the expiration date thereof, (vi) the annual
premium with respect thereto, and (vii) any reserves relating to any
self-insurance program that is in effect.  Such insurance policies and
programs reflect coverage that is reasonably consistent with prudent industry
practice.

       

      6.17. Labor
Matters.

       

      As of the
Closing Date, no attempt to organize the employees of the Borrower, and no labor
disputes, strikes or walkouts affecting the operations of the Borrower or any of
its Subsidiaries, is pending, or, to the Borrower’s knowledge, threatened,
planned or contemplated which could reasonably be expected to have a Material
Adverse Effect.

       

      6.18. No Default or Unmatured
Default.  No Default or Unmatured Default has occurred and is
continuing.

       

      6.19. Environmental
Matters.

       

      (A) Except as
disclosed on Schedule
6.19 to this Agreement

       

      (i) the
operations of the Borrower and its Subsidiaries comply in all material respects
with Environmental, Health or Safety Requirements of Law;

       

      
        
          
          

        

        
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      (ii) the
Borrower and its Subsidiaries have all permits, licenses or other authorizations
required under Environmental, Health or Safety Requirements of Law and are in
material compliance with such permits;

       

      (iii) neither
the Borrower, any of its Subsidiaries nor any of their respective present
property or operations, or, to the Borrower’s or any of its Subsidiaries’
knowledge, any of their respective past property or operations, are subject to
or the subject of, any investigation known to the Borrower or any of its
Subsidiaries, any judicial or administrative proceeding, order, judgment,
decree, settlement or other agreement respecting:  (A) any material
violation of Environmental, Health or Safety Requirements of Law; (B) any
remedial action; or (C) any material claims or liabilities arising from the
Release or threatened Release of a Contaminant into the
environment;

       

      (iv) there is
not now, nor to the Borrower’s or any of its Subsidiaries’ knowledge has there
ever been, on or in the property of the Borrower or any of its Subsidiaries any
landfill, waste pile, underground storage tanks, aboveground storage tanks,
surface impoundment or hazardous waste storage facility of any kind, any PCBs
used in hydraulic oils, electric transformers or other equipment, or any
asbestos containing material; and

       

      (v) to the
knowledge of the Borrower or any of its Subsidiaries, neither the Borrower nor
any of its Subsidiaries has any material Contingent Obligation in connection
with any Release or threatened Release of a Contaminant into the
environment.

       

      (B) For
purposes of this Section 6.19
“material” means any noncompliance or basis for liability which could reasonably
be likely to subject the Borrower or any of its Subsidiaries to liability,
individually or in the aggregate, in excess of $5,000,000.

       

      6.20. Solvency.  After
giving effect to (i) the Loans to be made on the Closing Date or such other date
as Loans requested hereunder are made, (ii) the other transactions contemplated
by this Agreement and the other Loan Documents and (iii) the payment and accrual
of all transaction costs with respect to the foregoing, the Borrower and its
Subsidiaries taken as a whole are Solvent.

       

      6.21. Representations and
Warranties of each Alternate Currency Borrower.  Each Alternate
Currency Borrower represents and warrants to the Lenders that:

       

      (A) Organization and Corporate
Powers.  Such Alternate Currency Borrower (i) is a company duly
formed and validly existing and in good standing under the laws of the state or
country of its organization (such jurisdiction being hereinafter referred to as
the “Home
Country”); (ii) has the requisite power and authority to own its property
and assets and to carry on its business substantially as now conducted except
where the failure to have such requisite authority would not have a material
adverse effect on such Alternate Currency Borrower; and (iii) has the requisite
power and authority and legal right to execute and deliver the Alternate
Currency Addendum to which it is a party and each other Loan Document to which
it is a party and the performance by it of its obligations thereunder have been
duly authorized by proper corporate proceedings.

       

      (B) Binding
Effect.  The Alternate Currency Addendum and each other Loan
Document executed by such Alternate Currency Borrower is the legal, valid and
binding obligations of such Alternate Currency Borrower enforceable in
accordance with their respective terms, except as enforceability may be limited
by bankruptcy, insolvency or similar laws affecting the enforcement of
creditors’ rights generally and general equitable principles.

       

      
        
          
          

        

        
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      (C) No Conflict; Government
Consent.  Neither the execution and delivery by such Alternate
Currency Borrower of the Loan Documents to which it is a party, nor the
consummation by it of the transactions therein contemplated to be consummated by
it, nor compliance by such Alternate Currency Borrower with the provisions
thereof will violate any law, rule, regulation, order, writ, judgment,
injunction, decree or award binding on such Alternate Currency Borrower or any
of its Subsidiaries or such Alternate Currency Borrower’s or any of its
Subsidiaries’ memoranda or articles of association or the provisions of any
indenture, instrument or agreement to which such Alternate Currency Borrower or
any of its Subsidiaries is a party or is subject, or by which it, or its
property, is bound, or conflict with or constitute a default thereunder, or
result in the creation or imposition of any lien in, of or on the property of
such Alternate Currency Borrower or any of its Subsidiaries pursuant to the
terms of any such indenture, instrument or agreement in any such case which
violation, conflict, default, creation or imposition could reasonably be
expected to have a material adverse effect on such Alternate Currency
Borrower.  No order, consent, approval, license, authorization, or
validation of, or filing, recording or registration with, or exemption by, any
governmental agency is required to authorize, or is required in connection with
the execution, delivery and performance of, or the legality, validity, binding
effect or enforceability of, any of the Loan Documents.

       

      (D) Filing.  To
ensure the enforceability or admissibility in evidence of this Agreement, the
Alternate Currency Addendum to which such Alternate Currency Borrower is a party
and each other Loan Document to which such Alternate Currency Borrower is a
party in its Home Country, it is not necessary that this Agreement, such
Alternate Currency Addendum, or any other Loan Document to which such Alternate
Currency Borrower is a party or any other document be filed or recorded with any
court or other authority in its Home Country or that any stamp or similar tax be
paid to or in respect of this Agreement, such Alternate Currency Addendum or any
other Loan Document of such Alternate Currency Borrower.  The
qualification by any Lender or the Agent for admission to do business under the
laws of such Alternate Currency Borrower’s Home Country does not constitute a
condition to, and the failure to so qualify does not affect, the exercise by any
Lender or the Agent of any right, privilege, or remedy afforded to any Lender or
the Agent in connection with the Loan Documents to which such Alternate Currency
Borrower is a party or the enforcement of any such right, privilege, or remedy
against Alternate Currency Borrower.  The performance by any Lender or
the Agent of any action required or permitted under the Loan Documents will not
(i) violate any law or regulation of such Alternate Currency Borrower’s Home
Country or any political subdivision thereof, (ii) result in any tax or other
monetary liability to such party pursuant to the laws of such Alternate Currency
Borrower’s Home Country or political subdivision or taxing authority thereof
(provided that,
should any such action result in any such tax or other monetary liability to the
Lender or the Agent, the Borrower hereby agrees to indemnify such Lender or the
Agent, as the case may be, against (x) any such tax or other monetary liability
and (y) any increase in any tax or other monetary liability which results from
such action by such Lender or the Agent and, to the extent the Borrower makes
such indemnification, the incurrence of such liability by the Agent or any
Lender will not constitute a Default) or (iii) violate any rule or regulation of
any federation or organization or similar entity of which the such Alternate
Currency Borrower’s Home Country is a member.

       

      (E) No
Immunity.  Neither such Alternate Currency Borrower nor any of
its assets is entitled to immunity from suit, execution, attachment or other
legal process.  Such Alternate Currency Borrower’s execution and
delivery of the Loan Documents to which it is a party constitute, and the
exercise of its rights and performance of and compliance with its obligations
under such Loan Documents will constitute, private and commercial acts done and
performed for private and commercial purposes.

       

      
        
          
          

        

        
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      (F) Application of
Representations and Warranties.  It is understood and agreed by
the parties hereto that the representations and warranties of each Alternate
Currency Borrower in this Section 6.21 shall
only be applicable to such Alternate Currency Borrower on and after the date of
its execution of an Assumption Letter and any applicable Alternate Currency
Addendum.

       

      6.22. Representations and
Warranties of each Subsidiary Borrower.  Each Subsidiary
Borrower represents and warrants to the Lenders that:

       

      (A) Organization and Corporate
Powers.  Such Subsidiary Borrower (i) is a company duly formed
and validly existing and in good standing under the laws of its Home Country;
(ii) has the requisite power and authority to own its property and assets and to
carry on its business substantially as now conducted except where the failure to
have such requisite authority would not have a material adverse effect on such
Subsidiary Borrower; and (iii) has the requisite power and authority and legal
right to execute and deliver each Loan Document to which it is a party and the
performance by it of its obligations thereunder have been duly authorized by
proper corporate proceedings.

       

      (B) Binding
Effect.  Each Loan Document executed by such Subsidiary
Borrower is the legal, valid and binding obligations of such Subsidiary Borrower
enforceable in accordance with their respective terms, except as enforceability
may be limited by bankruptcy, insolvency or similar laws affecting the
enforcement of creditors’ rights generally and general equitable
principles.

       

      (C) No Conflict; Government
Consent.  Neither the execution and delivery by such Subsidiary
Borrower of the Loan Documents to which it is a party, nor the consummation by
it of the transactions therein contemplated to be consummated by it, nor
compliance by such Subsidiary Borrower with the provisions thereof will violate
any law, rule, regulation, order, writ, judgment, injunction, decree or award
binding on such Subsidiary Borrower or any of its Subsidiaries or such
Subsidiary Borrower’s or any of its Subsidiaries’ memoranda or articles of
association or the provisions of any indenture, instrument or agreement to which
such Subsidiary Borrower or any of its Subsidiaries is a party or is subject, or
by which it, or its property, is bound, or conflict with or constitute a default
thereunder, or result in the creation or imposition of any lien in, of or on the
property of such Subsidiary Borrower or any of its Subsidiaries pursuant to the
terms of any such indenture, instrument or agreement in any such case which
violation, conflict, default, creation or imposition could reasonably be
expected to have a material adverse effect on such Subsidiary
Borrower.  No order, consent, approval, license, authorization, or
validation of, or filing, recording or registration with, or exemption by, any
governmental agency is required to authorize, or is required in connection with
the execution, delivery and performance of, or the legality, validity, binding
effect or enforceability of, any of the Loan Documents.

       

      (D) Filing.  To
ensure the enforceability or admissibility in evidence of this Agreement, each
Loan Document to which such Subsidiary Borrower is a party in its Home Country,
it is not necessary that this Agreement or any other Loan Document to which such
Subsidiary Borrower is a party or any other document be filed or recorded with
any court or other authority in its Home Country or that any stamp or similar
tax be paid to or in respect of this Agreement or any other Loan Document of
such Subsidiary Borrower.  The qualification by any Lender or the
Agent for admission to do business under the laws of such Subsidiary Borrower’s
Home Country does not constitute a condition to, and the failure to so qualify
does not affect, the exercise by any Lender or the Agent of any right,
privilege, or remedy afforded to any Lender or the Agent in connection with the
Loan Documents to which such Subsidiary Borrower is a party or the enforcement
of any such right, privilege, or remedy against such Subsidiary
Borrower.  The performance by any Lender or the Agent 

       

      
        
          
          

        

        
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      of any
action required or permitted under the Loan Documents will not (i) violate any
law or regulation of such Subsidiary Borrower’s Home Country or any political
subdivision thereof, (ii) result in any tax or other monetary liability to such
party pursuant to the laws of such Subsidiary Borrower’s Home Country or
political subdivision or taxing authority thereof (provided that, should
any such action result in any such tax or other monetary liability to the Lender
or the Agent, the Borrower hereby agrees to indemnify such Lender or the Agent,
as the case may be, against (x) any such tax or other monetary liability and (y)
any increase in any tax or other monetary liability which results from such
action by such Lender or the Agent and, to the extent the Borrower makes such
indemnification, the incurrence of such liability by the Agent or any Lender
will not constitute a Default) or (iii) violate any rule or regulation of any
federation or organization or similar entity of which the such Subsidiary
Borrower’s Home Country is a member.

       

      (E) No
Immunity.  Neither such Subsidiary Borrower nor any of its
assets is entitled to immunity from suit, execution, attachment or other legal
process.  Such Subsidiary Borrower’s execution and delivery of the
Loan Documents to which it is a party constitute, and the exercise of its rights
and performance of and compliance with its obligations under such Loan Documents
will constitute, private and commercial acts done and performed for private and
commercial purposes.

       

      (F) Application of
Representations and Warranties.  It is understood and agreed by
the parties hereto that the representations and warranties of each Subsidiary
Borrower in this Section 6.22 shall
only be applicable to such Subsidiary Borrower on and after the date of its
execution of an Assumption Letter.

       

      6.23. Security Interest in
Collateral.  The provisions of this Agreement and the other
Loan Documents create legal and valid Liens on all the Collateral in favor of
the Collateral Agent, for the benefit of the Holders of Secured Obligations, and
such Liens constitute perfected and continuing Liens on the Collateral, securing
the Secured Obligations, enforceable against the applicable Domestic Loan Party
and all third parties, and having priority over all other Liens on the
Collateral except in the case of (a) Permitted Existing Liens, to the extent any
such Permitted Existing Liens would have priority over the Liens in favor of the
Collateral Agent pursuant to any applicable law and (b) Liens perfected only by
possession (including possession of any certificate of title) to the extent the
Collateral Agent has not obtained or does not maintain possession of such
Collateral.

       

      ARTICLE  VII:  COVENANTS

       

      The
Borrower covenants and agrees that so long as any Revolving Loan Commitments are
outstanding and thereafter until payment in full of all of the Obligations
(other than contingent indemnity obligations) and termination of all Letters of
Credit, unless the Required Lenders shall otherwise give prior written
consent:

       

      7.1. Reporting.  The
Borrower shall:

       

      (A) Financial Reporting.
Furnish to the Agent (with sufficient copies for each of the
Lenders):

       

      (i) Quarterly
Reports.  As soon as practicable, and in any event within fifty
(50) days after the end of the first three fiscal quarters, the consolidated and
consolidating balance sheet of the Borrower and its Subsidiaries as at the end
of such period and the related consolidated and consolidating statements of
income and cash flows of the Borrower and its Subsidiaries for such fiscal
quarter and for the period from the beginning of the then current fiscal

       

      
        
          
          

        

        
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      year to
the end of such fiscal quarter, certified by the chief financial officer of the
Borrower on behalf of the Borrower as fairly presenting in all material respects
the consolidated and consolidating financial position of the Borrower and its
Subsidiaries as at the dates indicated and the results of their operations and
cash flows for the periods indicated in accordance with Agreement Accounting
Principles, subject to normal year-end audit adjustments.

       

      (ii) Annual
Reports.  As soon as practicable, and in any event within
ninety-five (95) days after the end of each fiscal year, (a) the consolidated
balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal
year and the related consolidated statements of income, stockholders’ equity and
cash flows of the Borrower and its Subsidiaries for such fiscal year, and in
comparative form the corresponding figures for the previous fiscal year along
with consolidating schedules in form and substance sufficient to calculate the
financial covenants set forth in Section 7.4, and (b)
an audit report on the items listed in clause (a) hereof
(other than the consolidating schedules) of independent certified public
accountants of recognized national standing, which audit report shall be
unqualified and shall state that such financial statements fairly present the
consolidated financial position of the Borrower and its Subsidiaries as at the
dates indicated and the results of their operations and cash flows for the
periods indicated in conformity with Agreement Accounting Principles and that
the examination by such accountants in connection with such consolidated
financial statements has been made in accordance with generally accepted
auditing standards.  The deliveries made pursuant to this clause (ii) shall be
accompanied by (x) any management letter prepared by the above-referenced
accountants, and (y) a certificate of such accountants that, in the course
of their examination necessary for their certification of the foregoing, they
have obtained no knowledge of any Default or Unmatured Default, or if, in the
opinion of such accountants, any Default or Unmatured Default shall exist,
stating the nature and status thereof.

       

      (iii) Officer’s
Certificate.  Together with each delivery of any financial
statement (a) pursuant to clauses (i) and (ii) of this Section 7.1(A), an
Officer’s Certificate of the Borrower, substantially in the form of Exhibit G attached
hereto and made a part hereof, stating that (x) the representations and
warranties of the Borrower contained in Article VI hereof
shall have been true and correct in all material respects (unless such
representation or warranty is made as of a specific date, in which case, such
representation and warranty shall be true in all material respects as of such
date) at all times during the period covered by such financial statements and as
of the date of such Officer’s Certificate and (y) as of the date of such
Officer’s Certificate no Default or Unmatured Default exists, or if any Default
or Unmatured Default exists, stating the nature and status thereof and (b)
pursuant to clauses
(i) and (ii) of this Section 7.1(A), a
compliance certificate, substantially in the form of Exhibit H attached
hereto and made a part hereof, signed by the Borrower’s chief financial officer,
setting forth calculations for the period then ended for Section 2.5(B), if
applicable, which demonstrate compliance, when applicable, with the provisions
of Sections
7.3(A) through (G) and Section 7.4, and
which calculate the Cash Flow Leverage Ratio for purposes of determining the
then Applicable Floating Rate Margin, Applicable Eurocurrency Margin, Applicable
L/C Fee Percentage and Applicable Commitment Fee Percentage.

       

      (B) Notice of
Default.  Promptly upon any of the chief executive officer,
chief operating officer, chief financial officer, treasurer or controller of the
Borrower obtaining actual knowledge (i) of any condition or event which
constitutes a Default or Unmatured Default, or becoming aware that any Lender or
Agent has given any written notice to any Authorized Officer with respect to a
claimed Default or Unmatured Default under this Agreement, or (ii) that any
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      written
notice to any Authorized Officer of the Borrower or any Subsidiary of the
Borrower or taken any other action with respect to a claimed default or event or
condition of the type referred to in Section 8.1(E), the
Borrower shall deliver to the Agent and the Lenders an Officer’s Certificate
specifying (a) the nature and period of existence of any such claimed
default, Default, Unmatured Default, condition or event, (b) the notice
given or action taken by such Person in connection therewith, and (c) what
action the Borrower has taken, is taking and proposes to take with respect
thereto.

       

      (C) Lawsuits.  (i)  Promptly
upon the Borrower obtaining actual knowledge of the institution of, or written
threat of, any action, suit, proceeding, governmental investigation or
arbitration, by or before any Governmental Authority, against or affecting the
Borrower or any of its Subsidiaries or any property of the Borrower or any of
its Subsidiaries not previously disclosed pursuant to Section 6.7, which
action, suit, proceeding, governmental investigation or arbitration exposes, or
in the case of multiple actions, suits, proceedings, governmental investigations
or arbitrations arising out of the same general allegations or circumstances
which expose, in the Borrower’s reasonable judgment, the Borrower or any of its
Subsidiaries to liability in an amount aggregating $5,000,000 or more (exclusive
of claims covered by insurance policies of the Borrower or any of its
Subsidiaries unless the insurers of such claims have disclaimed coverage or
reserved the right to disclaim coverage on such claims and exclusive of claims
covered by the indemnity of a financially responsible indemnitor in favor of the
Borrower or any of its Subsidiaries unless the indemnitor has disclaimed or
reserved the right to disclaim coverage thereof), give written notice thereof to
the Agent and the Lenders and provide such other information as may be
reasonably available to enable each Lender and the Agent and its counsel to
evaluate such matters; and (ii) in addition to the requirements set forth in
clause (i)
of this Section 7.1(C),
upon request of the Agent or the Required Lenders, promptly give written notice
of the status of any action, suit, proceeding, governmental investigation or
arbitration covered by a report delivered pursuant to clause (i) above
and provide such other information as may be reasonably available to it that
would not jeopardize any attorney-client privilege by disclosure to the Lenders
to enable each Lender and the Agent and its counsel to evaluate such
matters.

       

      (D) ERISA
Notices.  Deliver or cause to be delivered to the Agent and the
Lenders, at the Borrower’s expense, the following information and notices as
soon as reasonably possible, and in any event:

       

      (i) (a)
within ten (10) Business Days after the Borrower obtains knowledge that a
Termination Event has occurred, a written statement of the chief financial
officer of the Borrower describing such Termination Event and the action, if
any, which the Borrower has taken, is taking or proposes to take with respect
thereto, and when known, any action taken or threatened by the IRS, DOL or PBGC
with respect thereto and (b) within ten (10) Business Days after any member of
the Controlled Group obtains knowledge that a Termination Event has occurred
which could reasonably be expected to subject the Borrower to liability in
excess of $5,000,000, a written statement of the chief financial officer of the
Borrower describing such Termination Event and the action, if any, which the
member of the Controlled Group has taken, is taking or proposes to take with
respect thereto, and when known, any action taken or threatened by the IRS, DOL
or PBGC with respect thereto;

       

      (ii) within
ten (10) Business Days after the Borrower or any of its Subsidiaries obtains
knowledge that a prohibited transaction (defined in Sections 406 of ERISA
and Section 4975 of the Code) has occurred, a statement of the chief
financial officer of the Borrower

       

      
        
          
          

        

        
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      describing
such transaction and the action which the Borrower or such Subsidiary has taken,
is taking or proposes to take with respect thereto;

       

      (iii) within
ten (10) Business Days after the material increase in the benefits of any
existing Benefit Plan or the establishment of any new Benefit Plan or the
commencement of, or obligation to commence, material contributions to any
Benefit Plan or Multiemployer Plan to which the Borrower or any member of the
Controlled Group was not previously contributing, notification of such increase,
establishment, commencement or obligation to commence and the amount of such
contributions;

       

      (iv) within
ten (10) Business Days after the Borrower or any of its Subsidiaries receives
notice of any unfavorable determination letter from the IRS regarding the
qualification of a Plan under Section 401(a) of the Code, copies of each such
letter;

       

      (v) within
ten (10) Business Days after the establishment of any material foreign employee
benefit plan (other than the establishment of a defined contribution plan under
English law within one hundred eighty (180) days of the Closing Date) or the
commencement of, or obligation to commence, material contributions to any
foreign employee benefit plan to which the Borrower or any Subsidiary was not
previously contributing, notification of such establishment, commencement or
obligation to commence and the amount of such contributions;

       

      (vi) within
ten (10) Business Days after the filing thereof with the DOL, IRS or PBGC,
copies of each annual report (form 5500 series), including Schedule B
thereto, filed with respect to each Benefit Plan;

       

      (vii) within
ten (10) Business Days after receipt by the Borrower or any member of the
Controlled Group of each actuarial report for any Benefit Plan or Multiemployer
Plan and each annual report for any Multiemployer Plan, copies of each such
report;

       

      (viii) within
ten (10) Business Days after the filing thereof with the IRS, a copy of each
funding waiver request filed with respect to any Benefit Plan and all
communications received by the Borrower or a member of the Controlled Group with
respect to such request;

       

      (ix) within
ten (10) Business Days after receipt by the Borrower or any member of the
Controlled Group of the PBGC’s intention to terminate a Benefit Plan or to have
a trustee appointed to administer a Benefit Plan, copies of each such
notice;

       

      (x) within
ten (10) Business Days after receipt by the Borrower or any member of the
Controlled Group of a notice from a Multiemployer Plan regarding the imposition
of withdrawal liability, copies of each such notice;

       

      (xi) within
ten (10) Business Days after the Borrower or any member of the Controlled Group
fails to make a required installment or any other required payment under
Section 412 of the Code on or before the due date for such installment or
payment, a notification of such failure; and

       

      (xii) within
ten (10) Business Days after the Borrower or any member of the Controlled Group
knows or has reason to know that (a) a Multiemployer Plan has been
terminated, (b) the administrator or plan sponsor of a Multiemployer Plan
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      a
Multiemployer Plan, or (c) the PBGC has instituted or will institute
proceedings under Section 4042 of ERISA to terminate a Multiemployer
Plan.

       

      For
purposes of this Section 7.1(D), the
Borrower, any of its Subsidiaries and any member of the Controlled Group shall
be deemed to know all facts known by the administrator of any Plan of which the
Borrower or any member of the Controlled Group or such Subsidiary is the plan
sponsor.  In addition, for purposes of this Section 7.1(D),
“material” means any noncompliance or basis for liability which could reasonably
be likely to subject the Borrower or any of its Subsidiaries to liability,
individually or in the aggregate, in excess of $5,000,000.

       

      (E) Labor
Matters.  Notify the Agent and the Lenders in writing, promptly
upon an Authorized Officer of the Borrower learning of (i) any material
labor dispute to which the Borrower or any of its Subsidiaries may become a
party, including, without limitation, any strikes, lockouts or other disputes
relating to such Persons’ plants and other facilities which could reasonably be
expected to have a Material Adverse Effect and (ii) any Worker Adjustment
and Retraining Notification Act liability incurred with respect to the closing
of any plant or other facility of the Borrower or any of its
Subsidiaries.

       

      (F) Other
Indebtedness.  Deliver to the Agent (i) a copy of each
regular report, notice or communication regarding potential or actual defaults
(including any accompanying officer’s certificate) delivered by or on behalf of
the Borrower to the holders of funded Indebtedness with an aggregate outstanding
principal amount in excess of $5,000,000 pursuant to the terms of the agreements
governing such Indebtedness, such delivery to be made at the same time and by
the same means as such notice of default is delivered to such holders, and
(ii) a copy of each notice or other communication received by the Borrower
from the from the holders of funded Indebtedness with an aggregate outstanding
principal amount in excess of $5,000,000 regarding potential or actual defaults
pursuant to the terms of such Indebtedness, such delivery to be made promptly
after such notice or other communication is received by the
Borrower.

       

      (G) Other
Reports.  Deliver or cause to be delivered to the Agent and the
Lenders copies of (i) all financial statements, reports and notices, if any,
sent or made available generally by the Borrower to its securities holders or
filed with the Commission by the Borrower, and (ii) all notifications received
from the Commission by the Borrower or its Subsidiaries pursuant to the
Securities Exchange Act of 1934 and the rules promulgated
thereunder.  Borrower shall include the Agent and the Lenders on its
standard distribution lists for all press releases made available generally by
the Borrower or any of the Borrower’s Subsidiaries to the public concerning
material developments in the business of the Borrower or any such
Subsidiary.

       

      (H) Environmental
Notices. As soon as possible and in any event within twenty (20) days
after receipt by the Borrower, a copy of (i) any notice or claim to the effect
that the Borrower or any of its Subsidiaries is or may be liable to any Person
as a result of the Release by the Borrower, any of its Subsidiaries, or any
other Person of any Contaminant into the environment, and (ii) any notice
alleging any violation of any Environmental, Health or Safety Requirements of
Law by the Borrower or any of its Subsidiaries if, in either case, such notice
or claim relates to an event which could reasonably be expected to subject the
Borrower and each of its Subsidiaries to liability individually or in the
aggregate in excess of $5,000,000.

       

      (I) Other
Information.  Promptly upon receiving a request therefor from
the Agent, prepare and deliver to the Agent and the Lenders such other
information with respect to the Borrower, any of its Subsidiaries, including,
without limitation, schedules identifying any Asset Sale or 

       

      
        
          
          

        

        
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      Financing
(and the use of the Net Cash Proceeds thereof), as from time to time may be
reasonably requested by the Agent.

       

      7.2. Affirmative
Covenants.

       

      (A) Corporate Existence,
Etc.  Except as permitted pursuant to Section 7.3(I), the
Borrower shall, and shall cause each of its Subsidiaries to, at all times
maintain its corporate existence and preserve and keep, or cause to be preserved
and kept, in full force and effect its rights and franchises material to its
businesses.

       

      (B) Corporate Powers; Conduct of
Business.  The Borrower shall, and shall cause each of its
Subsidiaries to, qualify and remain qualified to do business in each
jurisdiction in which the nature of its business requires it to be so qualified
and where the failure to be so qualified will have or could reasonably be
expected to have a Material Adverse Effect.  The Borrower will, and
will cause each Subsidiary to, carry on and conduct its business in
substantially the same manner and in substantially the same fields of enterprise
as it is presently conducted, except that Miramar, to the extent it has assets
with a value of $1,000 or less, may be dissolved.

       

      (C) Compliance with Laws,
Etc.  The Borrower shall, and shall cause its Subsidiaries to,
(a) comply with all Requirements of Law and all restrictive covenants affecting
such Person or the business, properties, assets or operations of such Person,
and (b) obtain as needed all permits necessary for its operations and maintain
such permits in good standing unless failure to comply or obtain such permits
could not reasonably be expected to have a Material Adverse Effect.

       

      (D) Payment of Taxes and Claims;
Tax Consolidation.  The Borrower shall pay, and cause each of
its Subsidiaries to pay, (i) all material taxes, assessments and other
governmental charges imposed upon it or on any of its properties or assets or in
respect of any of its franchises, business, income or property before any
penalty or interest accrues thereon, and (ii) all claims (including, without
limitation, claims for labor, services, materials and supplies) for sums which
have become due and payable and which by law have or may become a Lien (other
than a Lien permitted by Section 7.3(C)) upon
any of the Borrower’s or such Subsidiary’s property or assets, prior to the
time when any penalty or fine shall be incurred with respect thereto; provided, however, that no such
taxes, assessments and governmental charges referred to in clause (i) above or
claims referred to in clause (ii) above
(and interest, penalties or fines relating thereto) need be paid if being
contested in good faith by appropriate proceedings diligently instituted and
conducted and if such reserve or other appropriate provision, if any, as shall
be required in conformity with Agreement Accounting Principles shall have been
made therefor.

       

      (E) Insurance.  The
Borrower shall maintain for itself and its Subsidiaries, or shall cause each of
its Subsidiaries to maintain in full force and effect, the insurance policies
and programs listed on Schedule 6.16 to this
Agreement or substantially similar policies and programs or other policies and
programs as reflect coverage that is reasonably consistent with prudent industry
practice for companies operating in the same or similar
locations.  The Borrowers shall deliver to the Agent endorsements (x)
to all “All Risk” physical damage insurance policies on all of the Borrowers’
tangible real and personal property and assets and business interruption
insurance policies naming the Agent loss payee, and (y) to all general liability
and other liability policies naming the Agent an additional
insured.  In the event the Borrower or any of its Subsidiaries at any
time or times hereafter shall fail to obtain or maintain any of the policies or
insurance required herein or to pay any premium in whole or in part relating
thereto, then the Agent, without waiving or releasing any obligations or
resulting Default hereunder, may at any time or times thereafter (but shall be
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      do so)
obtain and maintain such policies of insurance and pay such premiums and take
any other action with respect thereto which the Agent reasonably deems
advisable.  All sums so disbursed by the Agent shall constitute part
of the Obligations, payable as provided in this Agreement.

       

      (F) Inspection of Property;
Books and Records; Discussions.  The Borrower shall permit and
cause each of the Borrower’s Subsidiaries to permit, any authorized
representative(s) designated by either the Agent or any Lender to visit and
inspect any of the properties of the Borrower or any of its Subsidiaries, to
examine, audit, check and make copies of their respective financial and
accounting records, books, journals, orders, receipts and any correspondence and
other data relating to their respective businesses or the transactions
contemplated hereby (including, without limitation, in connection with
environmental compliance, hazard or liability), and to discuss their affairs,
finances and accounts with their officers, all upon reasonable notice and at
such reasonable times during normal business hours, as often as may be
reasonably requested.  The Borrower shall keep and maintain, and cause
each of the Borrower’s Subsidiaries to keep and maintain, in all material
respects, proper books of record and account in which entries in conformity with
Agreement Accounting Principles shall be made of all dealings and transactions
in relation to their respective businesses and activities.  If a
Default has occurred and is continuing, the Borrower, upon the Agent’s request,
shall provide copies of such records to the Agent or its
representatives.  The Borrower acknowledges that either Agent, after
exercising its rights of inspection, may prepare and distribute to the Lenders
certain Reports pertaining to the Borrower and its Subsidiaries’ assets for
internal use by the Agents and the Lenders.  At any time after the
occurrence and during the continuation of a Default, that the Agent requests,
the Borrower and the Subsidiaries will provide, at the sole expense of the
Borrower, such Agent with appraisals or updates thereof of their inventory and
other assets from an appraiser selected and engaged by such Agent, and prepared
on a basis satisfactory to such Agent, such appraisals and updates to include,
without limitation, information required by applicable law and
regulations.

       

      (G) ERISA
Compliance.  The Borrower shall, and shall cause each of the
Borrower’s Subsidiaries to, establish, maintain and operate all Plans to comply
in all material respects with the provisions of ERISA, the Code, all other
applicable laws, and the regulations and interpretations thereunder and the
respective requirements of the governing documents for such Plans.

       

      (H) Maintenance of
Property.  The Borrower shall (i) cause all property used or
useful in the conduct of its business or the business of any Subsidiary to be
maintained and kept in good condition, repair and working order and supplied
with all necessary equipment and shall cause to be made all necessary repairs,
renewals, replacements, betterments and improvements thereof, all as in the
judgment of the Borrower may be necessary so that the business carried on in
connection therewith may be properly and advantageously conducted at all times
and (ii) with respect to such property, maintain, or cause to be maintained,
with financially sound and reputable insurance companies, insurance in such
amounts and against such risks as are customarily maintained by companies
engaged in the same or similar businesses operating in the same or similar
locations; provided, however, that nothing
in this Section
7.2(H) shall prevent the Borrower from discontinuing the operation or
maintenance of any of such property if such discontinuance is, in the judgment
of the Borrower, desirable in the conduct of its business or the business of any
Subsidiary and not disadvantageous in any material respect to the Agent or the
Lenders.  The Borrower will furnish to the Collateral Agent, upon
request of the Collateral Agent, information in reasonable detail as to the
insurance so maintained.  The Borrower shall deliver to the Collateral
Agent endorsements (x) to all “All Risk” physical damage insurance policies on
all of the Domestic Loan Parties’ tangible personal property and assets and
business interruption insurance policies naming the Collateral Agent as lender

       

      
        
          
          

        

        
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      loss
payee, and (y) to all general liability and other liability policies naming the
Collateral Agent an additional insured.  In the event any Domestic
Loan Party at any time or times hereafter shall fail to obtain or maintain any
of the policies or insurance required herein or to pay any premium in whole or
in part relating thereto, then the Collateral Agent, without waiving or
releasing any obligations or resulting Default hereunder, may at any time or
times thereafter (but shall be under no obligation to do so) obtain and maintain
such policies of insurance and pay such premiums and take any other action with
respect thereto which the Collateral Agent deems advisable.  All sums
so disbursed by the Collateral Agent shall constitute part of the Obligations,
payable as provided in this Agreement.  The Borrower will furnish to
the Agents and the Lenders prompt written notice of any casualty or other
insured damage to any material portion of the Collateral or the commencement of
any action or proceeding for the taking of any material portion of the
Collateral or interest therein under power of eminent domain or by condemnation
or similar proceeding.

       

      (I) Environmental
Compliance.  The Borrower and its Subsidiaries shall comply
with all Environmental, Health or Safety Requirements of Law, except where
noncompliance will not have or is not reasonably likely to subject the Borrower
or any of its Subsidiaries to liability, individually or in the aggregate, in
excess of $5,000,000.

       

      (J) Use of
Proceeds.  The Borrower shall use the proceeds of the Revolving
Loans to (a) refinance the indebtedness under the Existing Credit Agreement and
(b) provide funds for the additional working capital needs and other general
corporate purposes of the Borrower and its Subsidiaries.  The Borrower
will not, nor will it permit any Subsidiary to, use any of the proceeds of the
Loans to purchase or carry any Margin Stock or to make any Acquisition, other
than a Permitted Acquisition pursuant to Section
7.3(G).

       

      (K) Subsidiary
Guarantees.  The Borrower will as promptly as possible but in
any event within twenty (20) days after any Person becomes a Subsidiary or any
Subsidiary qualifies independently as, or is designated by the Borrower as, a
Subsidiary Guarantor (pursuant to the definition of “Subsidiary Guarantor”), the
Borrower shall deliver to the Agent a duly executed Guaranty or a supplement to
an existing Guaranty pursuant to which such Subsidiary agrees to be bound by the
terms and provisions of a Guaranty, such supplement to be accompanied by
appropriate corporate resolutions and legal opinions in form and substance
reasonably satisfactory to the Agent.

       

      (L) Foreign Pledge
Agreements.  If any Foreign Incorporated Subsidiary is (a) a
First Tier Foreign Subsidiary, (b) an Affected Foreign Subsidiary, (c) a
Material Foreign Subsidiary and (d) organized under the laws of any European
nation or any state or other principality or subdivision thereof, the Borrower
shall or shall cause the applicable parent Domestic Incorporated Subsidiary as
promptly as possible (but in any event within (i) in the case of such Foreign
Incorporated Subsidiaries which are in existence on the Closing Date, as
promptly as possible (but in any event within sixty (60) days after the Closing
Date (or by such later date as the Agent may agree to in its sole discretion))
and (ii) in the case of such Foreign Incorporated Subsidiaries which are created
or acquired after the Closing Date, as promptly as possible (but in any event
within sixty (60) days following the creation or acquisition thereof (or by such
later date as the Agent may agree to in its sole discretion))) to (A) execute
(1) a Foreign Pledge Agreement and (2) such other Collateral Documents deemed
necessary or desirable in the Agent’s sole discretion with respect to 65% of the
Capital Stock of such Foreign Incorporated Subsidiary, and (B) deliver and cause
each such parent Domestic Incorporated Subsidiary to deliver such corporate
resolutions, opinions of counsel, stock certificates, stock powers and such
other documentation as the Agent or its counsel may reasonably request, all in
form and substance reasonably satisfactory to the Agent and its counsel to
effectuate such pledge.  Notwithstanding the foregoing, no Foreign
Pledge Agreement in respect of a Foreign Incorporated 

       

      
        
          
          

        

        
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      Subsidiary
shall be required hereunder to the extent such Foreign Pledge Agreement is
prohibited by applicable law or the Agent or its counsel reasonably determines
that the pledge of such Foreign Incorporated Subsidiary’s Capital Stock would
not provide material credit support for the benefit of the Holders of
Obligations.

       

      (M) Security Agreement;
Additional Collateral; Further Assurances.

       

      (i) The
Borrower will cause, and will cause each other Domestic Incorporated Subsidiary
to cause, all of its owned personal property (whether tangible, intangible, or
mixed) to be subject at all times to first priority, perfected Liens in favor of
the Collateral Agent for the benefit of the Holders of Secured Obligations to
secure the Secured Obligations in accordance with the terms and conditions of
the Collateral Documents, subject in any case to Liens permitted by Section
7.3(C).  Without limiting the generality of the foregoing, the
Borrower (i) will cause the issued and outstanding Capital Stock of each
Domestic Incorporated Subsidiary directly owned by the Borrower or any other
Domestic Incorporated Subsidiary to be subject at all times to a first priority,
perfected Lien in favor of the Collateral Agent to secure the Secured
Obligations in accordance with the terms and conditions of the Collateral
Documents.

       

      (ii) Without
limiting the foregoing, the Borrower will, and will cause each Domestic
Incorporated Subsidiary to, execute and deliver, or cause to be executed and
delivered, to the Collateral Agent such documents, agreements and instruments,
and will take or cause to be taken such further actions, which may be required
by law or which the Collateral Agent may, from time to time, reasonably request
to carry out the terms and conditions of this Agreement and the other Loan
Documents and to ensure perfection and priority of the Liens created or intended
to be created by the Collateral Documents, all at the expense of the
Borrower.

       

      (iii) If any
personal property is acquired by a Domestic Loan Party after the Closing Date
(other than assets constituting Collateral under a Collateral Document that
automatically become subject to the Lien under such Collateral Document upon
acquisition thereof), the Borrower will notify the Collateral Agent thereof,
and, if requested by the Collateral Agent, the Borrower will cause such personal
property to be subjected to a Lien securing the Secured Obligations and will
take, and cause the other Domestic Loan Parties to take, such actions as shall
be necessary or reasonably requested by the Collateral Agent to grant and
perfect such Liens, including actions described in paragraph (iii) of this
Section, all at the expense of the Borrower.

       

      7.3. Negative
Covenants.

       

      (A) Indebtedness.  Neither
the Borrower nor any of its Subsidiaries shall directly or indirectly create,
incur, assume or otherwise become or remain directly or indirectly liable with
respect to any Indebtedness, except:

       

      (i) the
Obligations;

       

      (ii) Permitted
Existing Indebtedness and Permitted Refinancing Indebtedness;

       

      (iii) Indebtedness
in respect of obligations secured by Customary Permitted Liens;

       

      (iv) Indebtedness
constituting Contingent Obligations permitted by Section
7.3(E);

       

      
        
          
          

        

        
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      (v) Indebtedness
arising from intercompany loans and advances (a) from any Subsidiary to the
Borrower or any wholly-owned Subsidiary or (b) from the Borrower to any
wholly-owned Domestic Incorporated Subsidiary or (c) from the Borrower to any
wholly-owned Foreign Incorporated Subsidiary; provided, that if the Borrower is
the obligor on such Indebtedness, such Indebtedness shall be expressly
subordinate to the payment in full in cash of the Obligations; provided, further, that the
aggregate of all Foreign Subsidiary Investments does not exceed the Permitted
Foreign Subsidiary Investment Amount at any time;

       

      (vi) Indebtedness
in respect of Hedging Obligations permitted under Section
7.3(P);

       

      (vii) secured
or unsecured purchase money Indebtedness (including Capitalized Leases) incurred
by the Borrower or any of its Subsidiaries after the Closing Date to finance the
acquisition of fixed assets or in conjunction with a Permitted Acquisition, if
(1) at the time of such incurrence, no Default or Unmatured default has
occurred and is continuing or would result from such incurrence, (2) such
Indebtedness has a scheduled maturity and is not due on demand, (3) such
Indebtedness does not exceed the lower of the fair market value or the cost of
the applicable fixed assets on the date acquired, (4) such Indebtedness does not
exceed $30,000,000  in the aggregate outstanding at any time, and
(5) any Lien securing such Indebtedness is permitted under Section 7.3(C) (such
Indebtedness being referred to herein as “Permitted
Purchase Money Indebtedness”);

       

      (viii) Indebtedness
with respect to surety, appeal and performance bonds obtained by the Borrower or
any of its Subsidiaries in the ordinary course of business;

       

      (ix) Indebtedness
incurred by the Borrower to the seller in any Permitted Acquisition as part of
the consideration therefor, provided that such
Indebtedness is unsecured and, if in excess of $15,000,000 in the aggregate, is
subordinated to the Obligations, on terms reasonably acceptable to the
Agent;

       

      (x) Indebtedness
incurred by the Borrower pursuant to the Permitted Private Placement;
and

       

      (xi) additional
unsecured Indebtedness in an aggregate amount at any time outstanding not
exceeding $25,000,000.

       

      (B) Sales of
Assets.  Neither the Borrower nor any of its Subsidiaries shall
consummate any Asset Sale, except:

       

      (i) licenses
or sublicenses by the Borrower or its Subsidiaries of software, customer lists,
trademarks, service marks, patents, trade names and copyrights and other
intellectual property in the ordinary course of business; provided, that such
licenses or sublicenses shall not interfere with the business of the Borrower or
any such Subsidiary;

       

      (ii) transfers
of assets between the Borrower and any wholly-owned Subsidiary of the Borrower
or between wholly-owned Subsidiaries of the Borrower not otherwise prohibited by
this Agreement; provided, that the
aggregate of all Foreign Subsidiary Investments does not exceed the Permitted
Foreign Subsidiary Investment Amount at any time; and

       

      (iii) sales,
assignments, transfers, leases, conveyances or other dispositions of other
assets if such transaction (a) is for not less than fair market value (as
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      the
Borrower’s board of directors), and (b) when combined with all such other
transactions (each such transaction being valued at book value) (i) during the
immediately preceding twelve-month period, represents the disposition of not
greater than fifteen percent (15%) of the Borrower’s Consolidated Tangible
Assets at the end of the fiscal year immediately preceding that in which such
transaction is proposed to be entered into, and (ii) during the period from the
Closing Date to the date of such proposed transaction, represents the
disposition of not greater than twenty-five percent (25%) of the Borrower’s
Consolidated Tangible Assets at the end of the fiscal year immediately preceding
that in which such transaction is proposed to be entered into; and

       

      (iv) sales in
connection with the reorganization, restructuring and rationalization of the
Borrower and its Subsidiaries; provided, that the
non-recurring expenses arising from such reorganization, restructuring and
rationalization which are charged to operating expenses are charged during the
first three (3) fiscal years following any Permitted Acquisition and do not
exceed $5,000,000, on a pre-tax basis, with respect to any Permitted
Acquisition, or $10,000,000, on a pre-tax basis, in the aggregate.

       

      (C) Liens.  Neither
the Borrower nor any of its Subsidiaries shall directly or indirectly create,
incur, assume or permit to exist any Lien on or with respect to any of their
respective property or assets except:

       

      (i) Liens
created by the Loan Documents, or otherwise securing the Secured Obligations, in
accordance with the terms of the Intercreditor Agreement;

       

      (ii) Permitted
Existing Liens;

       

      (iii) Customary
Permitted Liens; and

       

      (iv) purchase
money Liens (including the interest of a lessor under a Capitalized Lease and
Liens to which any property is subject at the time of the Borrower’s acquisition
thereof) securing Permitted Purchase Money Indebtedness; provided that such
Liens shall not apply to any property of the Borrower or its Subsidiaries other
than that purchased or subject to such Capitalized Lease.

       

      (v) Liens
with respect to property acquired by the Borrower or any of its Subsidiaries
after the Closing Date (and not created in contemplation of such acquisition)
pursuant to a Permitted Acquisition; provided, that such
Liens shall extend only to the property so acquired; and

       

      (vi) other
Liens securing Indebtedness not to exceed $5,000,000 in the
aggregate.

       

      In
addition, neither the Borrower nor any of its Subsidiaries shall become a party
to any agreement, note, indenture or other instrument, or take any other action,
which would prohibit the creation of a Lien on any of its properties or other
assets in favor of the Agent for the benefit of itself and the Holders of
Obligations, as collateral for the Obligations; provided that any
agreement, note, indenture or other instrument in connection with Permitted
Purchase Money Indebtedness (including Capitalized Leases) may prohibit the
creation of a Lien in favor of the Agent for the benefit of itself and the
Holders of Obligations on the items of property obtained with the proceeds of
such Permitted Purchase Money Indebtedness.

       

      
        
          
          

        

        
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      Notwithstanding
the foregoing, other than Liens created under the Collateral Documents, the
Borrower will not, and will not permit any Subsidiary to, create, incur, assume
or permit to exist any Lien on the real property of the Borrower and any
Subsidiary.

       

      (D) Investments.  Except
to the extent permitted pursuant to paragraph (G) below,
neither the Borrower nor any of its Subsidiaries shall directly or indirectly
make or own any Investment except:

       

      (i) Investments
in cash and Cash Equivalents;

       

      (ii) Permitted
Existing Investments in an amount not greater than the amount thereof on the
Closing Date;

       

      (iii) Investments
in trade receivables or received in connection with the bankruptcy or
reorganization of suppliers and customers and in settlement of delinquent
obligations of, and other disputes with, customers and suppliers arising in the
ordinary course of business;

       

      (iv) Investments
consisting of deposit accounts maintained by the Borrower;

       

      (v) Investments
consisting of non-cash consideration from a sale, assignment, transfer, lease,
conveyance or other disposition of property permitted by Section
7.3(B);

       

      (vi) Investments
consisting of (a) intercompany loans from any Subsidiary of the Borrower to the
Borrower or any other Subsidiary permitted by Section 7.3(A)(v) and
(b) intercompany loans from the Borrower to its Subsidiaries; provided, that the
aggregate of all Foreign Subsidiary Investments shall not exceed the Permitted
Foreign Subsidiary Investment Amount;

       

      (vii) Investments
constituting Permitted Acquisitions;

       

      (viii) Investments
constituting Indebtedness permitted by Section 7.3(A) or
Contingent Obligations permitted by Section 7.3(E) or
Restricted Payments permitted by Section 7.3(F) or
Capital Expenditures permitted by Section 7.4(D);

       

      (ix) Investments
consisting of loans or advances made by any party to the Loan Documents to
employees and officers of the Borrower or any of the Borrower’s wholly-owned
Domestic Incorporated Subsidiaries for travel, entertainment and relocation
expenses in the ordinary course of business in an aggregate principal amount
outstanding at any one time not to exceed $2,000,000;

       

      (x) Investments
consisting of any right of the Borrower or its wholly-owned Domestic
Incorporated Subsidiaries to payment for goods sold or for services rendered,
whether or not it has been earned by performance; and

       

      (xi) Investments
in addition to those referred to elsewhere in this Section 7.3(D) in an
amount not to exceed $15,000,000 in the aggregate at any time
outstanding;

       

      provided, however, that the
Investments described in clause (vii) above
shall not be permitted to be made at a time when either a Default or an
Unmatured Default which is not in the process of being cured shall have occurred
and be continuing or would result therefrom.

       

      
        
          
          

        

        
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      (E) Contingent
Obligations.  Neither the Borrower nor any of its Subsidiaries
shall directly or indirectly create or become or be liable with respect to any
Contingent Obligation, except: (i) recourse obligations resulting from
endorsement of negotiable instruments for collection in the ordinary course of
business; (ii) Permitted Existing Contingent Obligations; (iii) obligations,
warranties, guaranties and indemnities, not relating to Indebtedness of any
Person, which have been or are undertaken or made in the ordinary course of
business and not for the benefit of or in favor of an Affiliate of the Borrower
or such Subsidiary; (iv) Contingent Obligations with respect to surety, appeal
and performance bonds obtained by the Borrower or any Subsidiary in the ordinary
course of business, (v) Contingent Obligations of the Subsidiaries of the
Borrower under the Guaranty to which they are a party, (vi) obligations arising
under or related to the Loan Documents, and (vii) Contingent Obligations in
respect to earn-outs or other similar forms of contingent purchase price payable
in respect of Permitted Acquisitions, (viii) Contingent Obligations in respect
of representations and warranties customarily given in respect of Asset Sales
otherwise permitted hereunder and (ix) Contingent Obligations consisting of
guaranties by Subsidiary Guarantors of Indebtedness of the Borrower, which
Indebtedness when incurred by the Borrower did not result in a violation of
Section
7.3(A).

       

      (F) Restricted
Payments.  The Borrower shall not declare or make any
Restricted Payment, except Restricted Payments in an amount not to exceed
$5,000,000 in the aggregate during any fiscal year of the Borrower and except
Restricted Payments by a Subsidiary to the Borrower or another Subsidiary; provided, however, that in no
event shall any Restricted Payments (other than Restricted Payments to Borrower)
be declared or made if either a Default or an Unmatured Default shall have
occurred and be continuing at the date of declaration or payment thereof or
would result therefrom.

       

      (G) Conduct of Business;
Subsidiaries; Acquisitions.  Neither the Borrower nor any of
its Subsidiaries shall engage in any business other than the businesses engaged
in by the Borrower on the date hereof and any business or activities which are
substantially similar, related or incidental thereto or logical extensions
thereof.  The Borrower shall not create, acquire or capitalize any
Subsidiary after the date hereof unless (i) no Default or Unmatured Default
which is not being cured shall have occurred and be continuing or would result
therefor; (ii) after such creation, acquisition or capitalization, all of the
representations and warranties contained herein shall be true and correct in all
material respects (unless such representation and warranty is made as of a
specific date, in which case, such representation or warranty shall be true in
all material respects as of such date); and (iii) after such creation,
acquisition or capitalization the Borrower shall be in compliance with the terms
of Section
7.2(K) and 7.2(L).  The
Borrower shall not make any Acquisitions, other than Acquisitions meeting the
following requirements or otherwise approved by the Required Lenders (each such
Acquisition constituting a “Permitted
Acquisition”):

       

      (i) no
Default or Unmatured Default shall have occurred and be continuing or would
result from such Acquisition or the incurrence of any Indebtedness in connection
therewith;

       

      (ii) after
giving effect to such transaction, the aggregate of all Foreign Subsidiary
Investments would not exceed the Permitted Foreign Subsidiary Investment
Amount;

       

      (iii) in the
case of an Acquisition of Equity Interests of an entity, the Acquisition shall
be of at least fifty-one percent (51%) of the Equity Interests of such entity,
and such acquired entity shall be (x) merged with and into the Borrower
immediately following such Acquisition, with the Borrower being the surviving
corporation following such merger or (y) the results of 

       

      
        
          
          

        

        
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      operations
of such entity shall be reported on a consolidated basis with the Borrower and
its consolidated Subsidiaries;

       

      (iv) the
purchase is consummated pursuant to a negotiated acquisition agreement on a
non-hostile basis;

       

      (v) the
Borrower shall deliver to the Agent and the Lenders a certificate from one of
the Authorized Officers, demonstrating to the satisfaction of the Agent that
after giving effect to such Acquisition and the incurrence of any Indebtedness
permitted by Section
7.3(A) in connection therewith, on a pro forma basis using
historical audited or reviewed unaudited financial statements obtained from the
seller(s) in respect of each such Acquisition as if the Acquisition and such
incurrence of Indebtedness had occurred on the first day of the twelve-month
period ending on the last day of the Borrower’s most recently completed fiscal
quarter, the Borrower would have been in compliance with the financial covenants
in Section 7.4
and not otherwise in Default;

       

      (vi) the
purchase price for the Acquisition (including the incurrence or assumption of
any Indebtedness in connection therewith) shall not, when aggregated with the
purchase price and such Indebtedness for all other Acquisitions during any
rolling period of twelve consecutive months, exceed without the prior written
consent of the Required Lenders the Maximum Acquisition Amount; and

       

      (vii) the
businesses being acquired shall be substantially similar, related or incidental
to, or a logical extension of, the businesses or activities engaged in by the
Borrower on the Closing Date.

       

      (H) Transactions with
Shareholders and Affiliates.  Neither the Borrower nor any of
its Subsidiaries shall directly or indirectly (i) enter into or permit to exist
any transaction (including, without limitation, the purchase, sale, lease or
exchange of any property or the rendering of any service) with any holder or
holders of any of the Equity Interests of the Borrower, or with any Affiliate of
the Borrower which is not its Subsidiary, on terms that are less favorable to
the Borrower or any of its Subsidiaries, as applicable, than those that might be
obtained in an arm’s length transaction at the time from Persons who are not
such a holder or Affiliate, except for Restricted Payments permitted by Section 7.3(F) and
Investments permitted by Section 7.3(D) or
(ii) enter into or permit to exist any such non-arm’s length transaction between
either the Borrower or any Domestic Incorporated Subsidiary, on the one hand,
and any Foreign Incorporated Subsidiary, on the other hand, if as a result
thereof the aggregate of all Foreign Subsidiary Investments would at any time
exceed the Permitted Foreign Subsidiary Investment Amount.  Agent and
Lenders acknowledge and consent to the transactions between the Borrower and its
Affiliates described in the Borrower’s public filings as of the date
hereof.

       

      (I) Restriction on Fundamental
Changes.  Neither the Borrower nor any of its Subsidiaries
shall enter into any merger or consolidation, or liquidate, wind-up or dissolve
(or suffer any liquidation or dissolution), or convey, lease, sell, transfer or
otherwise dispose of, in one transaction or series of transactions, all or
substantially all of the Borrower’s consolidated business or property, whether
now or hereafter acquired, except (i) transactions permitted under Sections 7.3(B),
7.3(D) or 7.3(G) and, (ii) a
Subsidiary of the Borrower may be merged into or consolidated with the Borrower
(in which case the Borrower shall be the surviving corporation) or any
wholly-owned Subsidiary of the Borrower, and (iii) any liquidation of any
Subsidiary of the Borrower into the Borrower or another Subsidiary of the
Borrower, as applicable.

       

      
        
          
          

        

        
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      (J) Sales and
Leasebacks.  Neither the Borrower nor any of its Subsidiaries
shall become liable, directly, by assumption or by Contingent Obligation, with
respect to any lease, whether an operating lease or a Capitalized Lease, of any
property (whether real or personal or mixed), (i) which it or one of its
Subsidiaries sold or transferred or is to sell or transfer to any other Person,
or (ii) which it or one of its Subsidiaries intends to use for substantially the
same purposes as any other property which has been or is to be sold or
transferred by it or one of its Subsidiaries to any other Person in connection
with such lease, unless in either case the sale involved is not prohibited under
Section 7.3(B)
and the lease involved is not prohibited under Section 7.3(A) and
any related Investment is not prohibited under Section
7.3(D).

       

      (K) Margin
Regulations.  Neither the Borrower nor any of its Subsidiaries,
shall use all or any portion of the proceeds of any credit extended under this
Agreement to purchase or carry Margin Stock.

       

      (L) ERISA.

       

      (a) The Borrower shall not

       

      (i) engage,
or permit any of its Subsidiaries to engage, in any prohibited transaction
described in Sections 406 of ERISA or 4975 of the Code for which a statutory or
class exemption is not available or a private exemption has not been previously
obtained from the DOL;

       

      (ii) permit to
exist any material accumulated funding deficiency (as defined in
Sections 302 of ERISA and 412 of the Code), with respect to any Benefit
Plan, whether or not waived;

       

      (iii) fail, or
permit any Controlled Group member to fail, to pay timely required material
contributions or annual installments due with respect to any waived funding
deficiency to any Benefit Plan;

       

      (iv) terminate,
or permit any Controlled Group member to terminate, any Benefit Plan which would
result in any material liability of the Borrower or any Controlled Group member
under Title IV of ERISA;

       

      (v) fail to
make any material contribution or payment to any Multiemployer Plan which the
Borrower or any Controlled Group member may be required to make under any
agreement relating to such Multiemployer Plan, or any law pertaining
thereto;

       

      (vi) fail, or
permit any Controlled Group member to fail, to pay any required material
installment or any other payment required under Section 412 of the Code on
or before the due date for such installment or other payment; or

       

      (vii) amend, or
permit any Controlled Group member to amend, a Plan resulting in a material
increase in current liability for the plan year such that the Borrower or any
Controlled Group member is required to provide security to such Plan under
Section 401(a)(29) of the Code.

       

      (b)  For
purposes of this Section 7.3(L),
“material” means any noncompliance or basis for liability which could reasonably
be likely to subject the Borrower or any of its Subsidiaries to liability,
individually or in the aggregate, in excess of $5,000,000.

       

      
        
          
          

        

        
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      (M) Corporate
Documents.  Neither the Borrower nor any of its Subsidiaries
shall amend, modify or otherwise change any of the terms or provisions in any of
their respective constituent documents as in effect on the date hereof in any
manner materially adverse to the interests of the Lenders, without the prior
written consent of the Required Lenders, except in connection with a Permitted
Acquisition.

       

      (N) Fiscal
Year.  Neither the Borrower nor any of its consolidated
Subsidiaries shall change its fiscal year for accounting or tax purposes from a
period consisting of the 12-month period ending on the last day of December of
each year, except as required by Agreement Accounting Principles (including
fiscal year end changes required as a result of the Transactions) or by law and
disclosed to the Lenders and the Agent.

       

      (O) Subsidiary
Covenants.  The Borrower will not, and will not permit any
Subsidiary to, create or otherwise cause to become effective any consensual
encumbrance or restriction of any kind on the ability of any Subsidiary to pay
dividends or make any other distribution on its stock, or make any other
Restricted Payment, pay any Indebtedness or other Obligation owed to the
Borrower or any other Subsidiary, make loans or advances or other Investments in
the Borrower or any other Subsidiary, or sell, transfer or otherwise convey any
of its property to the Borrower or any other Subsidiary.

       

      (P) Hedging
Obligations.  The Borrower shall not and shall not permit any
of its Subsidiaries to enter into any interest rate, commodity or foreign
currency exchange, swap, collar, cap or similar agreements evidencing Hedging
Obligations, other than interest rate, foreign currency or commodity exchange,
swap, collar, cap or similar agreements entered into by the Borrower or any
Subsidiary pursuant to which the Borrower or any Subsidiary has hedged its
actual interest rate, foreign currency or commodity exposure.  Such
permitted hedging agreements entered into by the Borrower or any Subsidiary and
any Lender or any affiliate of any Lender are sometimes referred to herein as
“Hedging
Agreements.”

       

      (Q) Issuance of Disqualified
Stock.  From and after the Closing Date, neither the Borrower,
nor any of its Subsidiaries shall issue any Disqualified Stock.  All
issued and outstanding Disqualified Stock shall be treated as Indebtedness for
all purposes of this Agreement (and as funded Indebtedness for purposes of Section 7.1(F)), and
the amount of such deemed Indebtedness shall be the aggregate amount of the
liquidation preference of such Disqualified Stock.

       

      7.4. Financial
Covenants.  The Borrower shall comply with the
following:

       

      (A) Minimum Fixed Charge
Coverage Ratio.  The Borrower and its consolidated Subsidiaries
shall maintain a ratio (“Fixed
Charge Coverage Ratio”) of:

       

      (i) EBITDA
during such period, to

       

      (ii) the sum
of the amounts, without duplication, of (a) Interest Expense during such period
(net of interest income) plus (b) scheduled
principal payments of Indebtedness not incurred under a revolving credit
facility excluding, however, principal payments of the PIK Notes and principal
payments of Withdrawal Liability plus (or minus with
respect to tax benefits) (c) Borrower’s income tax provision calculated in
accordance with US GAAP for such period plus (d) scheduled
principal payments of Capitalized Lease Obligations during such
period,

       

      
        
          
          

        

        
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      which
shall not be less than the applicable ratio set forth below for each
corresponding four (4) fiscal quarter period beginning with the four (4) fiscal
quarter period ending with the end of the applicable fiscal quarter of the
Borrower set forth below.  As used herein, “Withdrawal
Liability” means any amounts owing by the Borrower to the Graphic
Communications Union (“GCU”)
or a trust or fund or Plan administered by GCU as a result of the Borrower
terminating its participation in a Supplemental Retirement and Disability Fund
for the Borrower’s employees at its facility in Minneapolis, Minnesota, as
described in Note 16 to the financial statements contained in the Borrower’s
Form 10-K for the fiscal year ending December 31, 2008.  In each case,
the Fixed Charge Coverage Ratio shall be determined as of the last day of each
fiscal quarter for the four (4) fiscal quarter period ending on such day (the
“Last
Twelve-Month Period”), provided, that the
Fixed Charge Coverage Ratio shall be calculated, with respect to Permitted
Acquisitions, on a pro forma basis using
historical audited and reviewed unaudited financial statements obtained from the
seller(s) in such Permitted Acquisition, broken down by fiscal quarter as if
such Permitted Acquisition (including the uses and applications of proceeds in
respect thereof and the Indebtedness incurred in conjunction therewith) had
occurred on the first day of the Last Twelve-Month Period (the “Measurement
Period”) (excluding cost savings), provided such pro forma statements
shall be substantiated by supporting information reasonably acceptable to the
Agent.  Interest Expense shall be calculated for the purpose of clause (ii) by
excluding the effect of amortization of deferred financing fees, to the extent
it is an Interest Expense.

       

      
        
          	
                  Last Twelve-Month Period
    Ending

                	
                  Minimum Fixed Charge Coverage
      Ratio

                
	
                  March
      31, 2010

                	
                  1.20
      to 1.00

                
	
                  June
      30, 2010

                	
                  1.20
      to 1.00

                
	
                  September
      30, 2010

                	
                  1.20
      to 1.00

                
	
                  December
      31, 2010

                	
                  1.20
      to 1.00

                
	
                  March
      31, 2011

                	
                  1.20
      to 1.00

                
	
                  June
      30, 2011

                	
                  1.20
      to 1.00

                
	
                  September
      30, 2011

                	
                  1.20
      to 1.00

                
	
                  December
      31, 2011 and each fiscal quarter thereafter

                	
                  1.25
      to 1.00

                

        

      

       

      (B) Maximum Cash Flow Leverage
Ratio.  The Borrower and its consolidated Subsidiaries shall
not permit the ratio (the “Cash Flow
Leverage Ratio”) of (i) Total Funded Indebtedness (excluding the PIK
Notes) to (ii) EBITDA to be greater than the applicable ratio set forth below
for each corresponding four (4) fiscal quarter period ending with the end of the
applicable fiscal quarter of the Borrower set forth below.  The Cash
Flow Leverage Ratio shall be calculated, in each case, determined as of the last
day of each fiscal quarter based upon (a) for Indebtedness, Indebtedness as of
the last day of each such fiscal quarter; and (b) for EBITDA, the actual amount
for Last Twelve-Month Period, provided, that the
Cash Flow Leverage Ratio shall be calculated, with respect to Permitted
Acquisitions, on a pro forma basis using
historical audited and reviewed unaudited financial statements obtained from the
seller(s) in such Permitted Acquisition, broken down by fiscal quarter in the
Borrower’s reasonable judgment as if such Permitted Acquisition (including the
uses and applications of proceeds in respect thereof and the Indebtedness
incurred in conjunction therewith) had occurred on the first day of the
Measurement Period (excluding cost savings), 

       

       

      
        
          
          

        

        
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      provided
such pro forma statements
shall be substantiated by supporting information reasonably acceptable to the
Agent.

       

      
        
          	
                  Last Twelve-Month Period
    Ending

                	
                  Maximum Cash Flow Leverage
      Ratio

                
	
                  March
      31, 2010

                	
                  2.75
      to 1.00

                
	
                  June
      30, 2010

                	
                  2.75
      to 1.00

                
	
                  September
      30, 2010

                	
                  2.75
      to 1.00

                
	
                  December
      31, 2010

                	
                  2.75
      to 1.00

                
	
                  March
      31, 2011

                	
                  2.75
      to 1.00

                
	
                  June
      30, 2011

                	
                  2.75
      to 1.00

                
	
                  September
      30, 2011

                	
                  2.75
      to 1.00

                
	
                  December
      31, 2011 and each fiscal quarter thereafter

                	
                  2.50
      to 1.00

                

        

         

      

      (C) Minimum Consolidated Net
Worth. The Borrower shall not permit its Consolidated Net Worth at any
time to be less than the sum of (a) $181,504,000 plus (b) fifty
percent (50%) of Net Income (if positive) calculated separately for each fiscal
quarter commencing with the fiscal quarter ending on December 31, 2009, plus (c) one hundred
percent (100%) of the net cash proceeds resulting from the issuance by the
Borrower of any Capital Stock other than shares of Capital Stock issued pursuant
to employee stock option or ownership plans commencing with the fiscal quarter
ending on December 31, 2009; provided, that, to
the extent that the Borrower takes a write-down of goodwill or other assets, if
recognized in connection with the sale of the Schawk LA or Cactus divisions of
the Borrower and related losses, in any fiscal year of the Borrower, an
aggregate amount of up to $25,000,000 of such write-down and losses shall be
deducted from the Consolidated Net Worth that would otherwise be required to be
maintained pursuant to the terms of this Section
7.4(C).

       

      (D) Maximum Capital
Expenditures.  The Borrower will not, nor will it permit any
Subsidiary to, expend, or be committed to expend, in excess of (i) an aggregate
of $18,500,000 for Capital Expenditures of the Borrower and its Subsidiaries
during any fiscal year of the Borrower and (ii) an aggregate of $40,000,000 for
Capital Expenditures of the Borrower and its Subsidiaries during the period from
the Closing Date to the Revolving Loan Termination Date.

       

      (E) Amendments to Note
Documents.  If the Borrower or any Subsidiary enters into any
amendment, restatement, supplement, waiver or modification to any Note Document
(or any document related to any extension, refinancing, refunding or renewal
thereof) that amends, restates, supplements or modifies any of the covenants,
events of default or related definitions used in such Note Document (or any
document related to any extension, refinancing, refunding or renewal thereof) in
a manner that causes such covenants, events of default or related definitions
which are more restrictive than, or in addition to (the “More
Restrictive Provisions”), the covenants, events of default or related
definitions contained in this Agreement, then (a) the Borrower will give the
Agent prior written notice thereof, (b) this Agreement shall be deemed to be
automatically amended to add the More Restrictive Provisions hereto and
otherwise afford the Lenders with the benefit thereof without any action by the
Borrower or any Lender and (c) the Borrower, upon the request of the Agent,
shall (i) enter into an amendment to this Agreement, in form and substance
satisfactory to the Agent, to evidence the addition of such More Restrictive
Provisions to this Agreement for the benefit

       

       

      
        
          
          

        

        
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      of the
Lenders and (ii) agree to satisfy any conditions precedent to the effectiveness
of such amendment.

       

      

      ARTICLE  VIII:  DEFAULTS

       

      8.1. Defaults.  Each
of the following occurrences shall constitute a Default under this
Agreement:

       

      (A) Failure to Make Payments
When Due.  The Borrower or any Alternate Currency Borrower or
any Subsidiary Borrower shall (i) fail to pay when due any of the Obligations
consisting of principal with respect to the Loans or (ii) shall fail to pay
within five (5) Business Days of the date when due any of the other Obligations
under this Agreement or the other Loan Documents.

       

      (B) Breach of Certain
Covenants.  The Borrower shall fail duly and punctually to
perform or observe any agreement, covenant or obligation binding on the Borrower
under:

       

      (i) Sections 7.1, 7.2, 7.3(C), 7.3(E), 7.3(L) or 7.3(O) and such
failure shall continue unremedied for fifteen (15) Business Days, or if such
failure is not capable of being cured within such fifteen (15) day period,
forty-five (45) days if the Borrower at all times during such forty-five (45)
day period is promptly and diligently attempting to effect such cure;
or

       

      (ii) Sections 7.3 (other
than Sections
7.3(C), 7.3(E), 7.3(L) and 7.3(O)) or 7.4.

       

      (C) Breach of Representation or
Warranty.  Any representation or warranty made or deemed made
by the Borrower to the Agent or any Lender herein or by any Borrower or any of
its Subsidiaries in any of the other Loan Documents or in any statement or
certificate at any time given by any such Person pursuant to any of the Loan
Documents shall be false or misleading in any material respect on the date as of
which made (or deemed made).

       

      (D) Other
Defaults.  Any Borrower shall default in the performance of or
compliance with any term contained in this Agreement (other than as covered by
paragraphs (A)
or (B) of this
Section 8.1),
or the Borrower or any Alternate Currency Borrower or any of their Subsidiaries
shall default in the performance of or compliance with any term contained in any
of the other Loan Documents, and such default shall continue for thirty (30)
days after the occurrence thereof.

       

      (E) Default as to Other
Indebtedness.  The Borrower or any of its Subsidiaries shall
fail to make any payment when due (whether by scheduled maturity, required
prepayment, acceleration, demand or otherwise) with respect to any Indebtedness
(other than Indebtedness hereunder, but including, without limitation,
Disqualified Stock), beyond any period of grace provided with respect thereto,
which individually or together with other such Indebtedness as to which any such
failure exists has an aggregate outstanding principal amount in excess of
$5,000,000; or any breach, default or event of default shall occur, or any other
condition shall exist under any instrument, agreement or indenture pertaining to
any such Indebtedness having such aggregate outstanding principal amount, beyond
any period of grace, if any, provided with respect thereto, if the effect
thereof is to cause an acceleration, mandatory redemption, a requirement that
the Borrower offer to purchase such Indebtedness or other required repurchase of
such Indebtedness, or permit the holder(s) of such Indebtedness to accelerate
the maturity of any such Indebtedness or require a redemption or other
repurchase of such Indebtedness; or any such Indebtedness shall be otherwise
declared to be due and payable (by acceleration or otherwise) or required to be
prepaid, redeemed or otherwise repurchased

       

       

      
        
          
          

        

        
          85

          
            

          

        

        
          
          

        

      

       

      by the
Borrower or any of its Subsidiaries (other than by a regularly scheduled
required prepayment) prior to the stated maturity thereof.

       

      (F) Involuntary
Bankruptcy; Appointment of Receiver, Etc.

       

      (i) An
involuntary case shall be commenced against the Borrower or any of the
Borrower’s Subsidiaries and the petition shall not be dismissed, stayed, bonded
or discharged within sixty (60) days after commencement of the case; or a court
having jurisdiction in the premises shall enter a decree or order for relief in
respect of the Borrower or any of the Borrower’s Subsidiaries in an involuntary
case, under any applicable bankruptcy, insolvency or other similar law now or
hereinafter in effect; or any other similar relief shall be granted under any
applicable federal, state, local or foreign law.

       

      (ii) A decree
or order of a court having jurisdiction in the premises for the appointment of a
receiver, liquidator, sequestrator, trustee, custodian or other officer having
similar powers over the Borrower or any of the Borrower’s Subsidiaries or over
all or a substantial part of the property of the Borrower or any of the
Borrower’s Subsidiaries shall be entered; or an interim receiver, trustee or
other custodian of the Borrower or any of the Borrower’s Subsidiaries or of all
or a substantial part of the property of the Borrower or any of the Borrower’s
Subsidiaries shall be appointed or a warrant of attachment, execution or similar
process against any substantial part of the property of the Borrower or any of
the Borrower’s Subsidiaries shall be issued and any such event shall not be
stayed, dismissed, bonded or discharged within sixty (60) days after entry,
appointment or issuance.

       

      (G) Voluntary Bankruptcy;
Appointment of Receiver, Etc.  The Borrower or any of the
Borrower’s Subsidiaries shall (i) commence a voluntary case under any applicable
bankruptcy, insolvency or other similar law now or hereafter in effect, (ii)
consent to the entry of an order for relief in an involuntary case, or to the
conversion of an involuntary case to a voluntary case, under any such law, (iii)
consent to the appointment of or taking possession by a receiver, trustee or
other custodian for all or a substantial part of its property, (iv) make any
assignment for the benefit of creditors or (v) take any corporate action to
authorize any of the foregoing.

       

      (H) Judgments and
Attachments.  Any money judgment(s) (other than a money
judgment covered by insurance as to which the applicable insurance company has
not disclaimed or reserved the right to disclaim coverage), writ or warrant of
attachment, or similar process against the Borrower or any of its Subsidiaries
or any of their respective assets involving in any single case or in the
aggregate an amount in excess of $5,000,000 is or are entered and shall remain
undischarged, unvacated, unbonded or unstayed for a period of sixty (60) days or
in any event later than fifteen (15) days prior to the date of any proposed sale
thereunder.

       

      (I) Dissolution.  Any
order, judgment or decree shall be entered against the Borrower decreeing its
involuntary dissolution or split up and such order shall remain undischarged and
unstayed for a period in excess of sixty (60) days; or the Borrower shall
otherwise dissolve or cease to exist except as specifically permitted by this
Agreement.

       

      (J) Loan
Documents.  At any time, for any reason, (i) any Loan Document
as a whole that materially affects the ability of the Agent, or any of the
Lenders to enforce the Obligations (a) ceases to be in full force and effect or
(b) the Borrower or any of the Borrower’s Subsidiaries party thereto seeks to
repudiate its obligations thereunder or (ii) any Lien in favor of the Collateral
Agent 

       

       

      
        
          
          

        

        
          86

          
            

          

        

        
          
          

        

      

       

      under the
Loan Documents (a) ceases to be in full force and effect, or (b) does not have
the priority contemplated by applicable Loan Document.

       

      (K) Termination
Event.  Any Termination Event occurs which the Required Lenders
believe is reasonably likely to subject the Borrower to liability in excess of
$5,000,000.

       

      (L) Waiver of Minimum Funding
Standard.  If the plan administrator of any Plan applies under
Section 412(d) of the Code for a waiver of the minimum funding standards of
Section 412(a) of the Code and any Lender believes the substantial business
hardship upon which the application for the waiver is based could reasonably be
expected to subject either the Borrower or any Controlled Group member to
liability in excess of $5,000,000.

       

      (M) Change of
Control.  A Change of Control shall occur.

       

      (N) Hedging
Agreements.  Nonpayment by the Borrower or any Subsidiary of
any obligation in excess of $2,500,000 under any Hedging Agreement which remains
unpaid for sixty (60) days or the breach by the Borrower or any Subsidiary of
any term, provision or condition contained in any such Hedging
Agreement.

       

      (O) Environmental
Matters.  The Borrower or any of its Subsidiaries shall be the
subject of any proceeding or investigation pertaining to (i) the Release by the
Borrower or any of its Subsidiaries of any Contaminant into the environment,
(ii) the liability of the Borrower or any of its Subsidiaries arising from the
Release by any other Person of any Contaminant into the environment, or (iii)
any violation of any Environmental, Health or Safety Requirements of Law which
by the Borrower or any of its Subsidiaries, which, in any case, has or is
reasonably likely to subject the Borrower to liability in excess of
$5,000,000.

       

      (P) Guarantor
Revocation.  Any guarantor of the Obligations shall terminate
or revoke any of its obligations under the applicable Guaranty or breach any of
the material terms of such Guaranty other than in connection with the
dissolution of Miramar if, at the time of such dissolution, Miramar has assets
of $1,000 or less.

       

      (Q) Collateral
Documents.  Any Collateral Document shall for any reason fail
to create a valid and perfected first priority security interest in any portion
of the Collateral purported to be covered thereby, except as permitted by the
terms of any Loan Document.

       

      A Default
shall be deemed “continuing” until cured or until waived in writing in
accordance with Section
9.3.  Upon the occurrence and during the continuance of a
Default, the Collateral Agent may, in accordance with the terms of the
Intercreditor Agreement, exercise any rights and remedies provided to the
Collateral Agent under the Loan Documents or at law or equity, including all
remedies provided under the UCC.

       

      ARTICLE  IX:   ACCELERATION,
DEFAULTING LENDERS; WAIVERS, AMENDMENTS AND REMEDIES

       

      9.1. Termination of Revolving
Loan Commitments; Acceleration.  If any Default described in
Section 8.1(F)
or 8.1(G)
occurs with respect to any Borrower, the obligations of the Lenders to make
Loans (including, without limitation, Alternate Currency Loans) hereunder and
the obligation of any Issuing Banks to issue Letters of Credit hereunder shall
automatically terminate and the Obligations shall immediately become due and
payable without any election or action on the part of the Agent or any

       

       

      
        
          
          

        

        
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      Lender.  If
any other Default occurs, the Required Lenders may terminate or suspend the
obligations of the Lenders to make Loans (including, without limitation,
Alternate Currency Loans) hereunder and the obligation of the Issuing Banks to
issue Letters of Credit hereunder, or declare the Obligations to be due and
payable, or both, whereupon the Obligations shall become immediately due and
payable, without presentment, demand, protest or notice of any kind, all of
which each Borrower expressly waives.

       

      9.2. Defaulting
Lender.  In the event that any Lender fails to fund its Pro
Rata Share of any Advance requested or deemed requested by any Borrower, which
such Lender is obligated to fund under the terms of this Agreement (the funded
portion of such Advance being hereinafter referred to as a “Non Pro
Rata Loan”), until the earlier of such Lender’s cure of such failure and
the termination of the Revolving Loan Commitments, the proceeds of all amounts
thereafter repaid to the Agent by such Borrower and otherwise required to be
applied to such Lender’s share of all other Obligations pursuant to the terms of
this Agreement shall be advanced to such Borrower by the Agent on behalf of such
Lender to cure, in full or in part, such failure by such Lender, but shall
nevertheless be deemed to have been paid to such Lender in satisfaction of such
other Obligations.  Notwithstanding anything in this Agreement to the
contrary:

       

      (i) the
foregoing provisions of this Section 9.2 shall
apply only with respect to the proceeds of payments of Obligations and shall not
affect the conversion or continuation of Loans pursuant to Section
2.10;

       

      (ii) any such
Lender shall be deemed to have cured its failure to fund its Pro Rata Share, of
any Advance at such time as an amount equal to such Lender’s original Pro Rata
Share of the requested principal portion of such Advance is fully funded to the
applicable Borrower, whether made by such Lender itself or by operation of the
terms of this Section
9.2, and whether or not the Non Pro Rata Loan with respect thereto has
been repaid, converted or continued;

       

      (iii) amounts
advanced to the applicable Borrower to cure, in full or in part, any such
Lender’s failure to fund its Pro Rata Share of any Advance (“Cure
Loans”) shall bear interest at the rate applicable to Floating Rate Loans
in effect from time to time, and for all other purposes of this Agreement shall
be treated as if they were Floating Rate Loans;

       

      (iv) regardless
of whether or not a Default has occurred or is continuing, and notwithstanding
the instructions of the Borrower as to its desired application, all repayments
of principal which, in accordance with the other terms of this Agreement, would
be applied to the outstanding Floating Rate Loans shall be applied first, ratably to all
Floating Rate Loans constituting Non Pro Rata Loans, second, ratably to
Floating Rate Loans other than those constituting Non Pro Rata Loans or Cure
Loans and, third, ratably to
Floating Rate Loans constituting Cure Loans;

       

      (v) for so
long as and until the earlier of any such Lender’s cure of the failure to fund
its Pro Rata Share of any Advance and the termination of the Revolving Loan
Commitments, the term “Required Lenders” for purposes of this Agreement shall
mean Lenders (excluding all Lenders whose failure to fund their respective Pro
Rata Share of such Advance have not been so cured) whose Pro Rata Shares
represent greater than fifty percent (50%) of the aggregate Pro Rata Shares of
such Lenders; provided, that if any
Lender (other than a Lender whose failure to find its Pro Rata Share of such
Advance has not been so cured) shall have a Pro Rata Share greater than fifty
percent (50%), “Required
Lenders” shall mean such Lender plus at least one additional Lender
(other than a Lender whose failure to find its Pro Rata Share of such Advance
has not been cured);

       

       

      
        
          
          

        

        
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      (vi) for so
long as and until any such Lender’s failure to fund its Pro Rata Share of any
Advance is cured in accordance with Section 9.2(ii), (A)
such Lender shall not be entitled to any commitment fees with respect to its
Revolving Loan Commitment and (B) such Lender shall not be entitled to any
letter of credit fees, which commitment fees and letter of credit fees shall
accrue in favor of the Lenders which have funded their respective Pro Rata Share
of such requested Advance, shall be allocated among such performing Lenders
ratably based upon their relative Revolving Loan Commitments, and shall be
calculated based upon the average amount by which the aggregate Revolving Loan
Commitments of such performing Lenders exceeds the sum of (I) the outstanding
principal amount of the Loans owing to such performing Lenders, plus (II) the
outstanding Reimbursement Obligations owing to such performing Lenders, plus (III) the
aggregate participation interests of such performing Lenders arising pursuant to
Section 3.6
with respect to undrawn and outstanding Letters of Credit;

       

      (vii) for so
long as such Lender is a Defaulting Lender, if any Swing Line Exposure or L/C
Obligation exists at the time a Lender is a Defaulting Lender, the
applicable Borrower shall within one Business Day following notice by the Agent
(i) prepay such Swing Line Exposure or, if agreed by the Swing Line Lender, cash
collateralize the Swing Line Exposure of the Defaulting Lender on terms
satisfactory to the Swing Line Lender and (ii) cash collateralize such
Defaulting Lender’s L/C Obligation in accordance with the procedures set forth
in Section 2.5
for so long as such L/C Obligation is outstanding; and

       

      (viii) for so
long as such Lender is a Defaulting Lender, the Swing Line Lender shall not be
required to fund any Swing Line Loan and the Issuing Bank shall not be required
to issue, amend or increase any Letter of Credit unless it is satisfied that
cash collateral will be provided by the applicable Borrower in accordance with
Section
9.20(vii).

       

      9.3. Amendments.  Subject
to the provisions of this Article IX, the
Required Lenders (or the Agent with the consent in writing of the Required
Lenders) and the Borrowers may enter into agreements supplemental hereto for the
purpose of adding or modifying any provisions to the Loan Documents or changing
in any manner the rights of the Lenders or any Borrower hereunder or waiving any
Default hereunder; provided, however, that no such
supplemental agreement shall, without the consent of each Lender (which is not a
Defaulting Lender under the provisions of Section 9.2)
adversely affected thereby:

       

      (i) Postpone
or extend the Revolving Loan Termination Date or any other date fixed for any
payment of principal of, or interest on, the Loans, the Reimbursement
Obligations or any fees or other amounts payable to such Lender (except with
respect to (a) any modifications of the provisions relating to prepayments of
Loans and other Obligations and (b) a waiver of the application of the default
rate of interest pursuant to Section 2.11
hereof).

       

      (ii) Reduce
the principal amount of any Loans or L/C Obligations, or reduce the rate or
extend the time of payment of interest or fees thereon.

       

      (iii) Reduce
the percentage specified in the definition of Required Lenders or any other
percentage of Lenders specified to be the applicable percentage in this
Agreement to act on specified matters or amend the definitions of “Required
Lenders” or “Pro Rata Share”.

       

      (iv) Except as
permitted by Section
2.26, increase the amount of the Revolving Loan Commitment of any Lender
hereunder or increase any Lender’s Pro Rata Share.

       

      (v) Permit
any Borrower to assign its rights under this Agreement.

       

       

      
        
          
          

        

        
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      (vi) other
than pursuant to a transaction permitted by the terms of this Agreement, release
any guarantor from its obligations under any Guaranty or release all or
substantially all of the Collateral.

       

      (vii) Amend
this Section
9.3.

       

      No
amendment of any provision of this Agreement relating to (a) any Agent shall be
effective without the written consent of such Agent, (b) Swing Line Loans shall
be effective without the written consent of the Swing Line Bank and (c) any
Issuing Bank shall be effective without the written consent of such Issuing
Bank.  The Agent may waive payment of the fee required under Section 13.3(B)
without obtaining the consent of any of the Lenders.  Notwithstanding
anything herein to the contrary, the Agent (acting reasonably and after
consultation with other parties hereto) may by reasonable prior notice to the
other parties hereto amend this Agreement after consultation with the Borrower
unilaterally for the exclusive purpose of effectuating changes hereto which are
necessary to the integration of the issuance of Letters of Credit hereunder in
euro and only in a manner which shall not result in a deterioration of the
position of any Agent or Lender from its respective position as of the date of
this Agreement.

       

      The Agent
may notify the other parties to this Agreement of any amendments to this
Agreement which the Agent reasonably determines to be necessary as a result of
the commencement of the third stage of the European Economic and Monetary
Union.  Notwithstanding anything to the contrary contained herein, any
amendments so notified shall take effect in accordance with the terms of the
relevant notification; provided, however, that if and
to the extent that the Agent determines it is not possible to put all parties
into such position, the Agent may give priority to putting the Agent, the
Arranger and the Lenders into that position.

       

      9.4. Preservation of
Rights.  No delay or omission of the Lenders or any Agent to
exercise any right under the Loan Documents shall impair such right or be
construed to be a waiver of any Default or an acquiescence therein, and the
making of a Loan or the issuance of a Letter of Credit notwithstanding the
existence of a Default or the inability of any Borrower to satisfy the
conditions precedent to such Loan or issuance of such Letter of Credit shall not
constitute any waiver or acquiescence.  Any single or partial exercise
of any such right shall not preclude other or further exercise thereof or the
exercise of any other right, and no waiver, amendment or other variation of the
terms, conditions or provisions of the Loan Documents whatsoever shall be valid
unless in writing signed by the Lenders required pursuant to Section 9.3, and then
only to the extent in such writing specifically set forth.  All
remedies contained in the Loan Documents or by law afforded shall be cumulative
and all shall be available to the Agents and the Lenders until the Obligations
have been paid in full.

       

      ARTICLE  X:   GENERAL
PROVISIONS

       

      10.1. Survival of
Representations.  All representations and warranties of the
Borrowers contained in this Agreement shall survive delivery of this Agreement
and the making of the Loans herein contemplated so long as any principal,
accrued interest, fees, or any other amount due and payable under any Loan
Document is outstanding and unpaid (other than contingent reimbursement and
indemnification obligations) and so long as the Revolving Loan Commitments have
not been terminated.

       

      10.2. Governmental
Regulation.  Anything contained in this Agreement to the
contrary notwithstanding, no Lender shall be obligated to extend credit to the
Borrowers in violation of any limitation or prohibition provided by any
applicable statute or regulation.

       

       

      
        
          
          

        

        
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      10.3. Performance of Obligations.  Each
Borrower agrees that the Agent may, but shall have no obligation to (i) at any
time, pay or discharge taxes, liens, security interests or other encumbrances
levied or placed on or threatened against any property of such Borrower to the
extent such Borrower is required by the terms hereof to pay any such amount, but
has not done so and (ii), after the occurrence and during the continuance of a
Default, to make any other payment or perform any act required of a Borrower
under any Loan Document or take any other action which the Agent in its
discretion deems necessary or desirable to protect or preserve such property of
such Borrower.  The Agent shall use its reasonable efforts to give the
Borrower notice of any action taken under this Section 10.3 prior to
the taking of such action or promptly thereafter provided the failure to give
such notice shall not affect the applicable Borrower’s obligations in respect
thereof.  The applicable Borrower agrees to pay the Agent, upon
demand, the principal amount of all funds advanced by the Agent under this Section 10.3,
together with interest thereon at the rate from time to time applicable to
Floating Rate Loans from the date of such advance until the outstanding
principal balance thereof is paid in full.  If the applicable Borrower
fails to make payment in respect of any such advance under this Section 10.3 within
one (1) Business Day after the date such Borrower receives written demand
therefor from the Agent, the Agent shall promptly notify each Lender and each
Lender agrees that it shall thereupon make available to the Agent, in Dollars in
immediately available funds, the amount equal to such Lender’s Pro Rata Share of
such advance.  If such funds are not made available to the Agent by
such Lender within one (1) Business Day after the Agent’s demand therefor, the
Agent will be entitled to recover any such amount from such Lender together with
interest thereon at the Federal Funds Effective Rate for each day during the
period commencing on the date of such demand and ending on the date such amount
is received.  The failure of any Lender to make available to the Agent
its Pro Rata Share of any such unreimbursed advance under this Section 10.3 shall
neither relieve any other Lender of its obligation hereunder to make available
to the Agent such other Lender’s Pro Rata Share of such advance on the date such
payment is to be made nor increase the obligation of any other Lender to make
such payment to the Agent.

       

      10.4. Headings.  Section
headings in the Loan Documents are for convenience of reference only, and shall
not govern the interpretation of any of the provisions of the Loan
Documents.

       

      10.5. Entire
Agreement.  The Loan Documents embody the entire agreement and
understanding among the Borrowers, the Agent and the Lenders and supersede all
prior agreements and understandings among the Borrowers, the Agent and the
Lenders relating to the subject matter thereof.

       

      10.6. Several Obligations;
Benefits of this Agreement.  The respective obligations of the
Lenders hereunder are several and not joint and no Lender shall be the partner
or agent of any other Lender (except to the extent to which the Agent is
authorized to act as such).  The failure of any Lender to perform any
of its obligations hereunder shall not relieve any other Lender from any of its
obligations hereunder.  This Agreement shall not be construed so as to
confer any right or benefit upon any Person other than the parties to this
Agreement and their respective successors and assigns.

       

      10.7. Expenses;
Indemnification.

       

      (A) Expenses.  The
Borrowers shall reimburse the Agents, the Alternate Currency Bank and the
Arranger for any reasonable costs, internal charges and out-of-pocket expenses
(including reasonable attorneys’ and paralegals’ fees and time charges of
attorneys and paralegals for the Agents, which attorneys and paralegals may be
employees of the Agents) paid or incurred by the Agents, the Alternate Currency
Bank or the Arranger in connection with the preparation, negotiation, execution,
delivery, syndication, review, amendment, modification, and administration of
the Loan Documents.  Each Borrower also agrees to reimburse the
Agents, the Alternate Currency Bank and the Arranger and the Lenders for any
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      reasonable
attorneys’ and paralegals’ fees and time charges of attorneys and paralegals for
the Agents, the Alternate Currency Bank and the Arranger and the Lenders, which
attorneys and paralegals may be employees of the Agents, the Alternate Currency
Bank or the Arranger or the Lenders) paid or incurred by the Agents or the
Arranger, the Alternate Currency Bank or any Lender in connection with the
collection of the Secured Obligations and enforcement of the Loan
Documents.  In addition to expenses set forth above, each Borrower
agrees to reimburse each Agent, promptly after such Agent’s request therefor,
for each audit, or other business analysis performed by or for the benefit of
the Lenders in connection with this Agreement or the other Loan Documents in an
amount equal to such Agent’s then customary charges for each Person employed to
perform such audit or analysis, plus all reasonable costs and expenses
(including without limitation, travel expenses) incurred by such Agent in the
performance of such audit or analysis.  The foregoing notwithstanding,
no Borrower shall be required to reimburse any Agent for its audit or business
analysis in amounts in excess of $10,000 per annum unless a Default has occurred
and is continuing.  Each Agent shall provide the Borrower with a
detailed statement of all reimbursements requested under this Section
10.7(A).  Expenses being reimbursed by the Borrowers under this
Section include, without limiting the generality of the foregoing, costs and
expenses incurred in connection with (x) appraisals (subject to the limitations
contained in Section
7.2(F)) and insurance reviews and (y) field examinations and the
preparation of Reports based on the fees charged by a third party retained by
either Agent or the internally allocated fees for each Person employed by either
Agent with respect to each field examination; provided that so long as no
Default has occurred and is continuing, no Borrower shall be required to
reimburse either Agent for the costs of more than one field exam and consequent
preparation of Reports per fiscal year.

       

      (B) Indemnity.  The
Borrowers further agree to defend, protect, indemnify, and hold harmless each
Agent, the Arranger, the Alternate Currency Bank and each and all of the Lenders
and each of their respective Affiliates, and each of such Agent’s, Arranger’s,
the Alternate Currency Bank’s, Lender’s, or Affiliate’s respective officers,
directors, trustees, investment advisors, employees, attorneys and agents
(including, without limitation, those retained in connection with the
satisfaction or attempted satisfaction of any of the conditions set forth in
Article V)
(collectively, the “Indemnitees”)
from and against any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, claims, costs, expenses of any kind or
nature whatsoever (including, without limitation, the fees and disbursements of
counsel for such Indemnitees in connection with any investigative,
administrative or judicial proceeding, whether or not such Indemnitees shall be
designated a party thereto), imposed on, incurred by, or asserted against such
Indemnitees in any manner relating to or arising out of:

       

      (i) this
Agreement or any of the other Loan Documents, or any act, event or transaction
related or attendant thereto or to the making of the Loans, and the issuance of
and participation in Letters of Credit hereunder, the management of such Loans
or Letters of Credit, the use or intended use of the proceeds of the Loans or
Letters of Credit hereunder, or any of the other transactions contemplated by
the Loan Documents; or

       

      (ii) any
liabilities, obligations, responsibilities, losses, damages, personal injury,
death, punitive damages, economic damages, consequential damages, treble
damages, intentional, willful or wanton injury, damage or threat to the
environment, natural resources or public health or welfare, costs and expenses
(including, without limitation, attorney, expert and consulting fees and costs
of investigation, feasibility or remedial action studies), fines, penalties and
monetary sanctions, interest, direct or indirect, known or unknown, absolute or
contingent, past, present or future relating to violation of any Environmental,
Health or Safety Requirements of Law arising

       

       

      
        
          
          

        

        
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      from or
in connection with the past, present or future operations of the Borrowers,
their Subsidiaries or any of their respective predecessors in interest, or, the
past, present or future environmental, health or safety condition of any
respective property of the Borrowers or their Subsidiaries, the presence of
asbestos-containing materials at any respective property of the Borrowers or
their Subsidiaries or the Release or threatened Release of any Contaminant into
the environment (collectively, the “Indemnified
Matters”);

       

      provided, however, the
Borrowers shall have no obligation to an Indemnitee hereunder with respect to
Indemnified Matters caused solely by or resulting solely from the willful
misconduct or Gross Negligence of such Indemnitee with respect to the Loan
Documents, as determined by the final non-appealed judgment of a court of
competent jurisdiction.  If the undertaking to indemnify, pay and
hold harmless set forth in the preceding sentence may be unenforceable because
it is violative of any law or public policy, the Borrowers shall contribute the
maximum portion which it is permitted to pay and satisfy under applicable law,
to the payment and satisfaction of all Indemnified Matters incurred by the
Indemnitees.

       

      (C) Waiver of Certain Claims;
Settlement of Claims.  Each Borrower further agrees to assert
no claim against any of the Indemnitees on any theory of liability seeking
consequential, special, indirect, exemplary or punitive damages.  No
settlement shall be entered into by any Borrower or any of its Subsidiaries with
respect to any claim, litigation, arbitration or other proceeding relating to or
arising out of the transactions evidenced by this Agreement, the other Loan
Documents unless such settlement releases all Indemnitees from any and all
liability with respect thereto.

       

      (D) Survival of
Agreements.  The obligations and agreements of the Borrowers
under this Section
10.7 shall survive the termination of this Agreement.

       

      10.8. Numbers of
Documents.  All statements, notices, closing documents, and
requests hereunder shall be furnished to the Agent with sufficient counterparts
so that the Agent may furnish one to each of the Lenders.

       

      10.9. Accounting.  Except
as provided to the contrary herein, all accounting terms used herein shall be
interpreted and all accounting determinations hereunder shall be made in
accordance with Agreement Accounting Principles.  Notwithstanding the
foregoing, for all purposes of this Agreement the outstanding principal amount
of any Indebtedness of the Borrower or any of its Subsidiaries (other than, to
the extent such obligations are included in the definition of “Indebtedness”,
Hedging Obligations) shall be equal to the actual outstanding principal amount
thereof irrespective of the amount that might otherwise be accounted for under
Agreement Accounting Principles as the amount of the liability of the Borrower
or any of its Subsidiaries with respect thereto, and any determination of the
net income (or net loss), equity or assets of the Borrower or any of its
Subsidiaries shall not take into account any effect of marking any such
outstanding Indebtedness of the Borrower or any of its Subsidiaries to market
value.  Notwithstanding any other provision contained herein, all
terms of an accounting or financial nature used herein shall be construed, and
all computations of amounts and ratios referred to herein shall be made, without
giving effect to any election under Accounting Standards Codification 825-10-25
(previously referred to as Statement of Financial Accounting Standards 159) (or
any other Accounting Standards Codification or Financial Accounting Standard
having a similar result or effect) to value any Indebtedness or other
liabilities of the Borrower or any of its Subsidiaries at “fair value”, as
defined therein.

       

      10.10. Severability of
Provisions.  Any provision in any Loan Document that is held to
be inoperative, unenforceable, or invalid in any jurisdiction shall, as to that
jurisdiction, be inoperative, unenforceable, or invalid without affecting the
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      enforceability,
or validity of that provision in any other jurisdiction, and to this end the
provisions of all Loan Documents are declared to be severable.

       

      10.11. Nonliability of
Lenders.  The relationship between the Borrowers and the
Lenders and the Agent shall be solely that of borrower and
lender.  Neither the Agent nor any Lender shall have any fiduciary
responsibilities to the Borrowers.  Neither the Agent nor any Lender
undertakes any responsibility to the Borrowers to review or inform the Borrower
of any matter in connection with any phase of the Borrowers’ business or
operations.

       

      10.12. GOVERNING LAW.  THE AGENT ACCEPTS
THIS AGREEMENT, ON BEHALF OF ITSELF AND THE LENDERS, AT CHICAGO, ILLINOIS BY
ACKNOWLEDGING AND AGREEING TO IT THERE. ANY DISPUTE BETWEEN ANY BORROWER AND THE
AGENT, ANY LENDER OR ANY OTHER HOLDER OF OBLIGATIONS ARISING OUT OF, CONNECTED
WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED BETWEEN THEM IN
CONNECTION WITH, THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS, AND WHETHER
ARISING IN CONTRACT, TORT, EQUITY, OR OTHERWISE, SHALL BE RESOLVED IN ACCORDANCE
WITH THE INTERNAL LAWS (INCLUDING 735 ILCS 105/5-1 ET SEQ. BUT OTHERWISE WITHOUT
REGARD TO THE CONFLICTS OF LAWS PROVISIONS) OF THE STATE OF
ILLINOIS.

       

      10.13. CONSENT TO JURISDICTION; SERVICE OF
PROCESS; JURY TRIAL.

       

      (A) EXCLUSIVE
JURISDICTION.  EXCEPT AS PROVIDED IN SUBSECTION (B), EACH
OF THE PARTIES HERETO AGREES THAT ALL DISPUTES AMONG THEM ARISING OUT OF,
CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG
THEM IN CONNECTION WITH, THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS
WHETHER ARISING IN CONTRACT, TORT, EQUITY, OR OTHERWISE, SHALL BE RESOLVED
EXCLUSIVELY BY STATE OR FEDERAL COURTS LOCATED IN CHICAGO, ILLINOIS, BUT THE
PARTIES HERETO ACKNOWLEDGE THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE
HEARD BY A COURT LOCATED OUTSIDE OF CHICAGO, ILLINOIS.  EACH OF THE
PARTIES HERETO WAIVES IN ALL DISPUTES BROUGHT PURSUANT TO THIS SUBSECTION (A) ANY
OBJECTION THAT IT MAY HAVE TO THE LOCATION OF THE COURT CONSIDERING THE
DISPUTE.

       

      (B) OTHER
JURISDICTIONS.  EACH BORROWER AGREES THAT THE AGENT, ANY LENDER
OR ANY OTHER HOLDER OF OBLIGATIONS SHALL HAVE THE RIGHT TO PROCEED AGAINST SUCH
BORROWER OR ITS PROPERTY IN A COURT IN ANY LOCATION TO ENABLE SUCH PERSON TO (1)
OBTAIN PERSONAL JURISDICTION OVER SUCH BORROWER OR (2) IN ORDER TO ENFORCE A
JUDGMENT OR OTHER COURT ORDER ENTERED IN FAVOR OF SUCH PERSON.  EACH
BORROWER AGREES THAT IT WILL NOT ASSERT ANY PERMISSIVE COUNTERCLAIMS IN ANY
PROCEEDING BROUGHT BY SUCH PERSON TO REALIZE ON ANY SECURITY FOR THE OBLIGATIONS
OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF SUCH
PERSON.  EACH BORROWER WAIVES ANY OBJECTION THAT IT MAY HAVE TO THE
LOCATION OF THE COURT IN WHICH SUCH PERSON HAS COMMENCED A PROCEEDING DESCRIBED
IN THIS SUBSECTION
(B).

       

      (C) VENUE.  EACH
BORROWER IRREVOCABLY WAIVES ANY OBJECTION (INCLUDING, WITHOUT LIMITATION, ANY
OBJECTION OF THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS) WHICH IT
MAY NOW OR 

       

       

      
        
          
          

        

        
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      HEREAFTER
HAVE TO THE BRINGING OF ANY SUCH ACTION OR PROCEEDING WITH RESPECT TO THIS
AGREEMENT OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED
IN CONNECTION HEREWITH IN ANY JURISDICTION SET FORTH ABOVE.

       

      (D) WAIVER OF JURY
TRIAL.  EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ANY RIGHT
TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN
CONTRACT, TORT, OR OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED TO OR
INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS
AGREEMENT OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED
IN CONNECTION HEREWITH.  EACH OF THE PARTIES HERETO AGREES AND
CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED
BY COURT TRIAL WITHOUT A JURY AND THAT ANY PARTY HERETO MAY FILE AN ORIGINAL
COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF
THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY
JURY.

       

      (E) ADVICE OF
COUNSEL.  EACH OF THE PARTIES REPRESENT TO EACH OTHER PARTY
HERETO THAT IT HAS DISCUSSED THIS AGREEMENT AND, SPECIFICALLY, THE PROVISIONS OF
SECTION 10.7
AND THIS SECTION
10.13, WITH ITS COUNSEL.

       

      10.14. USA Patriot Act
Notification.  The following notification is provided to the
Borrowers pursuant to Section 326 of the USA Patriot Act of 2001, 31 U.S.C.
Section 5318:

       

      IMPORTANT INFORMATION ABOUT PROCEDURES
FOR OPENING A NEW ACCOUNT.  To help the government of the United
States of America fight the funding of terrorism and money laundering
activities, Federal law requires all financial institutions to obtain, verify,
and record information that identifies each Person that opens an account,
including any deposit account, treasury management account, loan, other
extension of credit, or other financial services
product.  Accordingly, when any Borrower opens an account, the Agent
and the Lenders will ask for such Borrower's name, tax identification number,
business address, and other information that will allow the Agent and the
Lenders to identify such Borrower.  The Agent and the Lenders may also
ask to see such Borrower's legal organizational documents or other identifying
documents.

       

      10.15. Appointment for
Perfection.  Each Lender hereby appoints each other Lender as
its agent for the purpose of perfecting Liens, for the benefit of the Collateral
Agent and the Holders of Secured Obligations, in assets which, in accordance
with Article 9 of the UCC or any other applicable law can be perfected only by
possession.  Should any Lender (other than the Collateral Agent)
obtain possession of any such Collateral, such Lender shall notify the
Collateral Agent thereof, and, promptly upon the Collateral Agent’s request
therefor shall deliver such Collateral to the Collateral Agent or otherwise deal
with such Collateral in accordance with the Collateral Agent’s
instructions.

       

      ARTICLE  XI:  THE
AGENTS

       

      11.1. Appointment; Nature of
Relationship.  JPMorgan is appointed by the Lenders as the
Agent and Collateral Agent hereunder and under each other Loan Document, and
each of the Lenders irrevocably authorizes the Agents to act as the contractual
representative of such Lender with the rights and duties expressly set forth
herein and in the other Loan Documents.  Each Agent agrees to act as
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      contractual
representative upon the express conditions contained in this Article
XI.  Notwithstanding the use of the defined term “Agent,” it is
expressly understood and agreed that the Agents shall not have any fiduciary
responsibilities to any Holder of Secured Obligations by reason of this
Agreement and that such Agent is merely acting as the representative of the
Lenders with only those duties as are expressly set forth in this Agreement and
the other Loan Documents.  In its capacity as the Lenders’ contractual
representative, each Agent (i) does not assume any fiduciary duties to any of
the Holders of Secured Obligations, (ii) is a “representative” of the Holders of
Secured Obligations within the meaning of Section 9-105 of the Uniform
Commercial Code and (iii) is acting as an independent contractor, the rights and
duties of which are limited to those expressly set forth in this Agreement and
the other Loan Documents.  Each of the Lenders, for itself and on
behalf of its affiliates as Holders of Secured Obligations, agrees to assert no
claim against any Agent on any agency theory or any other theory of liability
for breach of fiduciary duty, all of which claims each Holder of Secured
Obligations waives.

       

      11.2. Powers.  Each
Agent shall have and may exercise such powers under the Loan Documents as are
specifically delegated to such Agent by the terms of each thereof, together with
such powers as are reasonably incidental thereto.  No Agent shall have
any implied duties or fiduciary duties to the Lenders, or any obligation to the
Lenders to take any action hereunder or under any of the other Loan Documents
except any action specifically provided by the Loan Documents required to be
taken by such Agent.

       

      11.3. General
Immunity.  None of the Agents nor any of their directors,
officers, agents or employees shall be liable to the Borrowers, the Lenders or
any Lender for any action taken or omitted to be taken by it or them hereunder
or under any other Loan Document or in connection herewith or therewith except
to the extent such action or inaction is found in a final judgment by a court of
competent jurisdiction to have arisen solely from the Gross Negligence or
willful misconduct of such Person.

       

      11.4. No Responsibility for Loans,
Creditworthiness, Recitals, Etc.  None of the Agents nor any of
their directors, officers, agents or employees shall be responsible for or have
any duty to (a) ascertain, inquire into, or verify (i) any statement,
warranty or representation made in connection with any Loan Document or any
borrowing hereunder; (ii) the performance or observance of any of the covenants
or agreements of any obligor under any Loan Document; (iii) the satisfaction of
any condition specified in Article V, except
receipt of items required to be delivered solely to such Agent; (iv) the
existence or possible existence of any Default, (v) the validity, effectiveness
or genuineness of any Loan Document or any other instrument or writing furnished
in connection therewith or (vi) the perfection or priority of any of the Liens
on any of the Collateral or (b) disclose and shall not be liable for the
failure to disclose any information related to the Borrowers or any of their
Subsidiaries that is communicated to or obtained by the bank serving as Agent or
any of its Affiliates in such capacity.  None of the Agents shall be
responsible to any Lender for any recitals, statements, representations or
warranties herein or in any of the other Loan Documents, or for the execution,
effectiveness, genuineness, validity, legality, enforceability, collectibility,
or sufficiency of this Agreement or any of the other Loan Documents or the
transactions contemplated thereby, or for the financial condition of any
guarantor of any or all of the Obligations, the Borrowers or any of their
Subsidiaries.

       

      11.5. Action on Instructions of
Lenders.  Each Agent shall in all cases be fully protected in
acting, or in refraining from acting, hereunder and under any other Loan
Document in accordance with written instructions signed by the Required Lenders
(or all of the Lenders in the event that and to the extent that this Agreement
expressly requires such), and such instructions and any action taken or failure
to act pursuant thereto shall be binding on all of the Lenders and on all owners
of Loans and on all Holders of Secured Obligations.  Each Agent shall
be fully justified in failing or refusing to take any action hereunder and under
any other Loan Document unless it shall first be indemnified to its
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      by the
Lenders pro rata against any and all liability, cost and expense that it may
incur by reason of taking or continuing to take any such action.

       

      11.6. Employment of Agents and
Counsel.  Each Agent may execute any of its duties as an Agent
hereunder and under any other Loan Document by or through employees, agents, and
attorney-in-fact and shall not be answerable to the Lenders, except as to money
or securities received by it or its authorized agents, for the default or
misconduct of any such agents or attorneys-in-fact selected by it with
reasonable care.  Each Agent shall be entitled to advice of counsel
concerning the contractual arrangement between such Agent and the Lenders and
all matters pertaining to such Agent’s duties hereunder and under any other Loan
Document.

       

      11.7. Reliance on Documents;
Counsel.  Each Agent shall be entitled to rely upon any notice,
consent, certificate, affidavit, letter, telegram, statement, paper or document
believed by it to be genuine and correct and to have been signed or sent by the
proper person or persons, and, in respect to legal matters, upon the opinion of
counsel selected by such Agent, which counsel may be employees of such
Agent.

       

      11.8. The Agents’ and the
Alternate Currency Bank’s Reimbursement and
Indemnification.  The Lenders agree to reimburse and indemnify
the Agents and the Alternate Currency Bank ratably in proportion to their
respective Pro Rata Shares (i) for any amounts not reimbursed by the Borrower
for which such Agent and the Alternate Currency Bank is entitled to
reimbursement by the Borrower under the Loan Documents, (ii) for any other
expenses incurred by such Agent or the Alternate Currency Bank on behalf of the
Lenders, in connection with the preparation, execution, delivery, administration
and enforcement of the Loan Documents and (iii) for any liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind and nature whatsoever which may be imposed
on, incurred by or asserted against such Agent or the Alternate Currency Bank in
any way relating to or arising out of the Loan Documents or any other document
delivered in connection therewith or the transactions contemplated thereby, or
the enforcement of any of the terms thereof or of any such other documents,
provided that no Lender shall be liable for any of the foregoing to the extent
any of the foregoing is found in a final non-appealable judgment by a court of
competent jurisdiction to have arisen solely from the Gross Negligence or
willful misconduct of such Agent or the Alternate Currency Bank.

       

      11.9. Rights as a
Lender.  With respect to its Revolving Loan Commitment, Loans
made by it, and Letters of Credit issued by it, each Agent shall have the same
rights and powers hereunder and under any other Loan Document as any Lender or
Issuing Bank and may exercise the same as though it were not an Agent, and the
term “Lender” or “Lenders”, “Issuing Bank” or “Issuing Banks” shall, unless the
context otherwise indicates, include the Agent in its individual
capacity.  Each Agent may accept deposits from, lend money to, and
generally engage in any kind of trust, debt, equity or other transaction, in
addition to those contemplated by this Agreement or any other Loan Document,
with the Borrowers or any of their Subsidiaries in which such Person is not
prohibited hereby from engaging with any other Person.

       

      11.10. Lender Credit
Decision.  Each Lender acknowledges that it has, independently
and without reliance upon any Agent, the Arranger or any other Lender and based
on the financial statements prepared by the Borrower and such other documents
and information as it has deemed appropriate, made its own credit analysis and
decision to enter into this Agreement and the other Loan
Documents.  Each Lender also acknowledges that it will, independently
and without reliance upon any Agent, the Arranger or any other Lender and based
on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under
this Agreement and the other Loan Documents.

       

       

      
        
          
          

        

        
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      11.11. Successor
Agent.  Each Agent may resign at any time by giving written
notice thereof to the Lenders and the Borrower.  Upon any such
resignation, the Required Lenders shall have the right to appoint, on behalf of
the Borrowers and the Lenders, a successor Agent.  If no successor
Agent shall have been so appointed by the Required Lenders and shall have
accepted such appointment within thirty days after the retiring Agent’s giving
notice of resignation, then the retiring Agent may appoint, on behalf of the
Borrowers and the Lenders, a successor Agent.  Notwithstanding
anything herein to the contrary, so long as no Default has occurred and is
continuing, each such successor Agent shall be subject to approval by the
Borrower, which approval shall not be unreasonably withheld.  Such
successor Agent shall be a commercial bank having capital and retained earnings
of at least $500,000,000.  Upon the acceptance of any appointment as
an Agent hereunder by a successor Agent, such successor Agent shall thereupon
succeed to and become vested with all the rights, powers, privileges and duties
of the retiring Agent, and the retiring Agent shall be discharged from its
duties and obligations hereunder and under the other Loan
Documents.  After any retiring Agent’s resignation hereunder as an
Agent, the provisions of this Article XI shall
continue in effect for its benefit in respect of any actions taken or omitted to
be taken by it while it was acting as the Agent hereunder and under the other
Loan Documents.

       

      11.12. Guarantor and Collateral
Issues.  The Collateral Agent is a “representative” of the
Holders of Secured Obligations within the meaning of the term “secured party” as
defined in the Illinois Uniform Commercial Code.  Each Lender
authorizes the Collateral Agent to enter into, on behalf of such Lender, the
Intercreditor Agreement and each of the Collateral Documents to which the
Collateral Agent is a party and to take all actions contemplated by such
documents.  Each Lender agrees that no Holder of Secured Obligations
(other than the Collateral Agent) shall have the right individually to seek to
realize upon the security granted by any Collateral Document, it being
understood and agreed that such rights and remedies may be exercised solely by
the Collateral Agent for the benefit of the Holders of Secured Obligations upon
the terms of the Collateral Documents and the Intercreditor
Agreement.  In the event that any Collateral is hereafter pledged by
any Person as collateral security for the  Secured Obligations, the
Collateral Agent is hereby authorized, and hereby granted a power of attorney,
to execute and deliver on behalf of the Holders of Secured Obligations any Loan
Documents necessary or appropriate to grant and perfect a Lien on such
Collateral in favor of the Collateral Agent on behalf of the Holders of Secured
Obligations.  The Lenders hereby authorize the Collateral Agent, at
its option and in its discretion, to release any Subsidiary Guarantor from it
obligations under the Guaranty and to release Lien granted to or held by the
Collateral Agent upon any Collateral, in each case (i) upon termination of the
Revolving Loan Commitments and satisfaction of the other Termination Conditions
(as defined in Section
2.19); (ii) as permitted by, but only in accordance with, the terms of
the applicable Loan Document or pursuant to a transaction otherwise permitted
hereunder; or (iii) if approved, authorized or ratified in writing by the
Required Lenders, unless such release is required to be approved by all of the
Lenders hereunder.  Upon request by the Collateral Agent at any time,
the Lenders will confirm in writing the Collateral Agent’s authority to
release  particular Subsidiary Guarantors or types or items of
Collateral pursuant hereto.  Upon any sale or transfer of assets
(whether constituting an entity which is a Subsidiary Guarantor or constituting
Collateral) which is permitted pursuant to the terms of any Loan Document, or
consented to in writing by the Required Lenders or all of the Lenders, as
applicable, and upon at least five Business Days’ prior written request by the
Borrower to the Collateral Agent, the Collateral Agent shall (and is hereby
irrevocably authorized by the Lenders to) execute such documents as may be
necessary to evidence the release of the relevant Subsidiary Guarantor from its
obligations under the Guaranty and the release of the Liens granted to the
Collateral Agent for the benefit of the Holders of Secured Obligations herein or
pursuant hereto upon the Subsidiary Guarantor or Collateral that was sold or
transferred; provided, however, that (i) the
Collateral Agent shall not be required to execute any such document on terms
which, in the Collateral Agent’s reasonable opinion, would expose the Collateral
Agent to liability or create any obligation or entail any consequence other than
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      warranty,
and (ii) such release shall not in any manner discharge, affect or impair the
Obligations or any Liens upon (or obligations of the Borrowers or any Subsidiary
in respect of) all interests retained by the Borrowers or any Subsidiary,
including (without limitation) the proceeds of the sale, all of which shall
continue to constitute part of the Collateral.

       

      The
Borrower, on its behalf and on behalf of its Subsidiaries, and each Lender, on
its behalf and on the behalf of its affiliated Holders of Secured Obligations,
hereby irrevocably constitute the Collateral Agent as the holder of an
irrevocable power of attorney (fondé de pouvoir within the
meaning of Article 2692 of the Civil Code of Québec) in order to hold hypothecs
and security granted by the Borrower or any Subsidiary on property pursuant to
the laws of the Province of Quebec to secure obligations of the Borrower or any
Subsidiary under any bond, debenture or similar title of indebtedness issued by
the Borrower or any Subsidiary in connection with this Agreement, and agree that
the Collateral Agent may act as the bondholder and mandatary with respect to any
bond, debenture or similar title of indebtedness that may be issued by the
Borrower or any Subsidiary and pledged in favor of the Holders of Secured
Obligations in connection with this Agreement.  Notwithstanding the
provisions of Section 32 of the An Act respecting the special powers of legal
persons (Quebec), the Collateral Agent may acquire and be the holder of any bond
issued by the Borrower or any Subsidiary in connection with this Agreement
(i.e., the fondé de
pouvoir may acquire and hold the first bond issued under any deed of
hypothec by the Borrower or any Subsidiary).

       

      The
Collateral Agent is hereby authorized to execute and deliver any documents
necessary or appropriate to create and perfect the rights of pledge for the
benefit of the Holders of Secured Obligations including a right of pledge with
respect to the entitlements to profits, the balance left after winding up and
the voting rights of the Borrower as ultimate parent of any subsidiary of the
Borrower which is organized under the laws of the Netherlands and the Capital
Stock of which are pledged in connection herewith (a “Dutch
Pledge”).  Without prejudice to the provisions of this
Agreement and the other Loan Documents, the parties hereto acknowledge and agree
with the creation of parallel debt obligations of the Borrower or any relevant
Subsidiary as will be described in any Dutch Pledge (the “Parallel
Debt”), including that any payment received by the Collateral Agent in
respect of the Parallel Debt will conditionally upon such payment not
subsequently being avoided or reduced by virtue of any provisions or enactments
relating to bankruptcy, insolvency, preference, liquidation or similar laws of
general application - be deemed a satisfaction of a pro rata portion of the
corresponding amounts of the  Secured Obligations, and any payment to
the Holders of Secured Obligations in satisfaction of the Secured Obligations
shall - conditionally upon such payment not subsequently being avoided or
reduced by virtue of any provisions or enactments relating to bankruptcy,
insolvency, preference, liquidation or similar laws of general application - be
deemed as satisfaction of the corresponding amount of the Parallel
Debt.  The parties hereto acknowledge and agree that, for purposes of
a Dutch Pledge, any resignation by the Collateral Agent is not effective until
its rights under the Parallel Debt are assigned to the successor Collateral
Agent.

       

      For
purposes of obtaining a pledge of equity in Schawk Spain, S.L., Sociedad
Unipersonal, a Subsidiary of the Borrower which is a company duly incorporated
under the laws of Spain, with registered office address at Paseo de la Alameda,
35-bis, 46023 Valencia, Spain and tax identification number (CIF) B-63.345.789,
registered with the Mercantile Registry of Valencia at Volume 8,115, Page Number
1, and Sheet V-103,761 (the “Spanish
Subsidiary”), each Holder of Secured Obligations hereby grants a special
power of attorney, as broad and sufficient as may be legally required, in favor
of the Collateral Agent so that the Collateral Agent may, through the person in
favor of whom it may grant a power of attorney, in the name and on behalf of
such Holders of Secured Obligations, carry out the following powers: (i) appear
before the Spanish notary public he/she may elect and grant as many

       

       

      
        
          
          

        

        
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      public or
private documents as may be required or appropriate to accept the creation by
the Spanish Subsidiary of an in rem right of pledge (of
first or second ranking) over all or part of the quotas representative of the
capital stock of the Spanish Subsidiary (all subject to the terms and conditions
that he/she determines to be necessary, desirable or appropriate, the execution
thereof by such person to be conclusive evidence of such determination), and in
order to secure the Secured Obligations, (ii) amend the terms and conditions of
the pledge referred to previously, for any reason, including, without
limitation, the extension of the pledges to any other assets (whether tangible
or intangible), rights, titles, securities or funds that replace or are
exchangeable for or attached to the quotas of the Spanish Subsidiary in the
event of merger, spin-off, dissolution, increase or decrease in capital,
conversion or exchange of the quotas, or any other similar cause that affects
the Spanish Subsidiary or its quotas; and, for this purpose, appear before the
Spanish notary public he/she may elect and grant as many public or private
documents as may be required or appropriate, (iii) appear before the Spanish
judicial, administrative and civil authorities (including Notaries Public) and
carry out on behalf of the Holders of Secured Obligations all of the necessary
actions to enforce the pledges created according to the terms set forth herein
and therein, including the filing of claims and any other acts which may be
necessary or appropriate in connection with such pledge, the execution thereof
by such person to be conclusive evidence of such determination, (iv) appear
before a Spanish Notary Public in order to execute a public deed (escritura pública or póliza intervenida) to raise
one or more (or all) of the Loan Documents, Collateral Documents or any other
documents in connection herewith or therewith to the status of a public document
(documento público),
(v) appear before the Spanish notary public he/she may elect and grant as many
public or private documents as may be required or appropriate to cancel the
pledge referred to above, subject to the terms and conditions that he/she
determines to be necessary, desirable or appropriate, the execution thereof by
such person to be conclusive evidence of such determination, (vi) carry out any
related or complementary actions which may be necessary or appropriate for the
complete fulfillment of the powers granted hereby, including, but not limited
to, the signature and delivery of any documents and notices which any of the
attorneys may consider appropriate, the execution thereof by such person to be
conclusive evidence of such determination and (vii) ratify whatever acts,
statements, documents or contracts made, granted or executed in relation to the
pledges created according to the terms set forth herein, in the Collateral
Documents and in the other Loan Documents and, in particular, to grant public
deeds ratifying previous public deeds, in the event that in such previous public
deeds an orally appointed attorney had acted on behalf of the Holders of Secured
Obligations (it being understood and agreed that (x) the powers granted hereby
may be exercised by any of the attorneys even where self-contracting (autocontratación), multiple
representation and/or conflicts of interest, or the appearance of any of the
foregoing, may exist and (y) each attorney authorized hereby shall also have the
right to delegate any of the powers granted hereby to any person he/she deems
appropriate).

       

      

      ARTICLE  XII:   SETOFF; RATABLE
PAYMENTS

       

      12.1. Setoff.  In
addition to, and without limitation of, any rights of the Lenders under
applicable law, if any Default occurs and is continuing, any Indebtedness from
any Lender to the Borrowers (including all account balances, whether provisional
or final and whether or not collected or available) may be offset and applied
toward the payment of the Obligations owing to such Lender, whether or not the
Obligations, or any part hereof, shall then be due.

       

      12.2. Ratable
Payments.  If any Lender, whether by setoff or otherwise, has
payment made to it upon its Loans (other than payments received pursuant to
Sections 4.1,
4.2 or 4.4) in a greater
proportion than that received by any other Lender, such Lender agrees, promptly
upon demand, to purchase a portion of the Loans held by the other Lenders so
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      proportion
of Loans.  If any Lender, whether in connection with setoff or amounts
which might be subject to setoff or otherwise, receives collateral or other
protection for its Obligation or such amounts which may be subject to setoff,
such Lender agrees, promptly upon demand, to take such action necessary such
that all Lenders share in the benefits of such collateral ratably in proportion
to the obligations owing to them.  In case any such payment is
disturbed by legal process, or otherwise, appropriate further adjustments shall
be made.

       

      12.3. Application of
Payments.  Subject to the provisions of Section 9.2 and the
Intercreditor Agreement, the Agent shall, unless otherwise specified at the
direction of the Required Lenders which direction shall be consistent with the
last sentence of this Section 12.3, apply
all payments and prepayments in respect of any Obligations, Hedging Obligations
and Banking Services Obligations in the following order:

       

      (A) first, to
pay interest on and then principal of any portion of the Loans which the Agent
may have advanced on behalf of any Lender for which the Agent has not then been
reimbursed by such Lender or the applicable Borrower;

       

      (B) second,
to pay interest on and then principal of any advance made under Section 10.3 for
which the Agent has not then been paid by the applicable Borrower or reimbursed
by the Lenders;

       

      (C) third, to
pay Obligations in respect of any fees, expenses, reimbursements or indemnities
then due to the Agent;

       

      (D) fourth,
to pay Obligations in respect of any fees, expenses, reimbursements or
indemnities then due to the Lenders and the issuer(s) of Letters of
Credit;

       

      (E) fifth, to
pay interest due in respect of Swing Line Loans;

       

      (F) sixth, to
pay interest due in respect of Loans (other than Swing Line Loans) and L/C
Obligations;

       

      (G) seventh,
to the ratable payment or prepayment of principal outstanding on Swing Line
Loans;

       

      (H) eighth,
to the ratable payment or prepayment of principal outstanding on Loans (other
than Swing Line Loans), Reimbursement Obligations, Hedging Obligations under
Hedging Agreements and Banking Services Obligations;

       

      (I) ninth, to
provide required cash collateral, if required pursuant to Section 3.11
and

       

      (J) tenth, to
the ratable payment of all other Obligations.

       

      Unless
otherwise designated (which designation shall only be applicable prior to the
occurrence of a Default) by the Borrower, all principal payments in respect of
Loans (other than Swing Line Loans) shall be applied first, to repay outstanding
Floating Rate Loans, and then to repay
outstanding Eurocurrency Rate Loans with those Eurocurrency Rate Loans which
have earlier expiring Interest Periods being repaid prior to those which have
later expiring Interest Periods.  The order of priority set forth in
this Section
12.3 and the related provisions of this Agreement are set forth solely to
determine the rights and priorities of the Agent, the Lenders, the Swing Line
Bank and the issuer(s) of Letters of Credit as among themselves.  The
order of priority set forth in clauses (D) through
(J) of this
Section 12.3
may at any time

       

       

      
        
          
          

        

        
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      and from
time to time be changed by the Required Lenders without necessity of notice to
or consent of or approval by the Borrower, or any other Person; provided, that the
order of priority of payments in respect of Swing Line Loans may be changed only
with the prior written consent of the Swing Line Bank.  The order of
priority set forth in clauses (A) through
(C) of this
Section 12.3
may be changed only with the prior written consent of the Agent.

       

      12.4. Relations Among Lenders.

       

      (A) Except
with respect to the exercise of set-off rights of any Lender in accordance with
Section 12.1,
the proceeds of which are applied in accordance with this Agreement, and except
as set forth in the following sentence, each Lender agrees that it will not take
any action, nor institute any actions or proceedings, against the Borrowers or
any other obligor hereunder or with respect to any Loan Document, without the
prior written consent of the Required Lenders or, as may be provided in this
Agreement or the other Loan Documents, at the direction of the
Agent.

       

      (B) The
Lenders are not partners or co-venturers, and no Lender shall be liable for the
acts or omissions of, or (except as otherwise set forth herein in case of the
Agent) authorized to act for, any other Lender.  The Agent shall have
the exclusive right on behalf of the Lenders to enforce on the payment of the
principal of and interest on any Loan after the date such principal or interest
has become due and payable pursuant to the terms of this Agreement.

       

      ARTICLE  XIII:   BENEFIT OF
AGREEMENT; ASSIGNMENTS; PARTICIPATIONS

       

      13.1. Successors and
Assigns.  The terms and provisions of the Loan Documents shall
be binding upon and inure to the benefit of the Borrowers, the Agent and the
Lenders and their respective successors and assigns permitted hereby, except
that (i) no Borrower shall have the right to assign its rights or obligations
under the Loan Documents without the prior written consent of all of the
Lenders, (ii) any assignment by any Lender must be made in compliance with Section 13.3, and
(iii) any transfer by Participants must be made in compliance with Section
13.2.  Any attempted assignment or transfer by any party not
made in compliance with this Section 13.1 shall be
null and void, unless such attempted assignment or transfer is treated as a
participation in accordance with Section
13.3.  The parties to this Agreement acknowledge that clause (ii) of this
Section 13.1
relates only to absolute assignments and this Section 13.1 does not
prohibit assignments creating security interests, including, without limitation,
(x) any pledge or assignment by any Lender of all or any portion of its rights
under this Agreement and any promissory note issued hereunder to a Federal
Reserve Bank, (y) in the case of a Lender which is a fund or commingled
investment vehicle that invests in commercial loans in the ordinary course of
business may at any time, without the consent of any Borrower or the Agent, any
pledge or assignment of all or any portion of its rights under this Agreement
and any promissory note issued hereunder to its trustee or other representative
of holders of obligations owed or securities issued by such Lender as collateral
to secure such obligations or (z) any pledge or assignment by any Lender of all
or any portion of its rights under this Agreement and any promissory note issued
hereunder to direct or indirect contractual counterparties in swap agreements
relating to the Loans; provided, however, that no such
pledge or assignment creating a security interest shall release the transferor
Lender from its obligations hereunder unless and until the parties thereto have
complied with the provisions of Section
13.3.  The Agent may treat each Lender as the owner of the
Loans made by such Lender hereunder for all purposes hereof unless and until
such Lender complies with Section 13.3; provided, however, that the
Agent may in its discretion (but shall not be required to) follow instructions
from the Lender which made any Loan or which holds any promissory note issued
hereunder to direct payments relating to such Loan or promissory note issued
hereunder to another Person.  Any assignee or transferee of the rights
to a Loan, Revolving Loan Commitment, L/C Interest or any other interest of a
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      acceptance
thereof to be bound by all the terms and provisions of the Loan
Documents.  Any request, authority or consent of any Person, who at
the time of making such request or giving such authority or consent is the owner
of any Loan, shall be conclusive and binding on any subsequent owner, transferee
or assignee of such Loan.

       

      13.2. Participations.

       

      (A) Permitted Participants;
Effect.  Subject to the terms set forth in this Section 13.2, any
Lender may, in the ordinary course of its business and in accordance with
applicable law, at any time sell to one or more banks or other entities (“Participants”) participating interests in
any Obligations or Loans owing to such Lender, any promissory note issued
hereunder held by such Lender, any Revolving Loan Commitment of such Lender any
L/C Interest of such Lender or any other interest of such Lender under the Loan
Documents on a pro rata or non-pro rata basis.   Notice of such
participation to the Borrower and the Agent shall be required prior to any
participation becoming effective with respect to a Participant which is not a
Lender or an Affiliate thereof. In the event of any such sale by a Lender of
participating interests to a Participant, such Lender’s obligations under the
Loan Documents shall remain unchanged, such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations,
such Lender shall remain the owner of the Obligations or Loans owing to such
Lender and the holder of any promissory note issued to it hereunder in evidence
thereof for all purposes under the Loan Documents, all amounts payable by the
Borrowers under this Agreement shall be determined as if such Lender had not
sold such participating interests, and the Borrowers and the Agent shall
continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under the Loan Documents, except that, for
purposes of Article
IV hereof, the Participants shall be entitled to the same rights as if
they were Lenders.

       

      (B) Voting
Rights.  Each Lender shall retain the sole right to approve,
without the consent of any Participant, any amendment, modification or waiver of
any provision of the Loan Documents other than any amendment, modification or
waiver with respect to any Loan, Letter of Credit or Revolving Loan Commitment
in which such Participant has an interest which forgives principal, interest or
fees or reduces the interest rate or fees payable pursuant to the terms of this
Agreement with respect to any such Loan or Revolving Loan Commitment, postpones
any date fixed for any regularly-scheduled payment of principal of, or interest
or fees on, any such Loan or Revolving Loan Commitment.

       

      (C) Benefit of Certain
Provisions.  Each Borrower agrees that each Participant shall
be deemed to have the right of setoff provided in Section 12.1 in
respect of its participating interest in amounts owing under the Loan Documents
to the same extent as if the amount of its participating interest were owing
directly to it as a Lender under the Loan Documents, provided that each
Lender shall retain the right of setoff provided in Section 12.1 with
respect to the amount of participating interests sold to each Participant except
to the extent such Participant exercises its right of setoff.  The
Lenders agree to share with each Participant, and each Participant, by
exercising the right of setoff provided in Section 12.1, agrees
to share with each Lender, any amount received pursuant to the exercise of its
right of setoff, such amounts to be shared in accordance with Section 12.2 as if
each Participant were a Lender.  Each Borrower further agrees that
each Participant shall be entitled to the benefits of Article IV to the
same extent as if it were a Lender and had acquired its interest by assignment
pursuant to Section
13.3, provided that (i) a
Participant shall not be entitled to receive any greater payment under Article IV than the
Lender who sold the participating interest to such Participant would have
received had it retained such interest for its own account, unless the sale of
such interest to such Participant is made with the prior written consent of the
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      Participant
not incorporated under the laws of the United States of America or any State
thereof agrees to comply with the provisions of Article IV to the
same extent as if it were a Lender.

       

      13.3. Assignments.

       

      (A) Permitted
Assignments.  Any Lender may, in the ordinary course of its
business and in accordance with applicable law, at any time assign to one or
more banks or other entities (“Purchasers”) all or a portion of its
rights and obligations under the Loan Documents.  Such assignment
shall be evidenced by an agreement substantially in the form of Exhibit D or in such
other form as may be agreed to by the parties thereto (each such agreement, an
“Assignment
Agreement”).  Each such
assignment with respect to a Purchaser which is not a Lender, an Affiliate of a
Lender or an Approved Fund shall, unless otherwise consented to in writing by
the Agent and, so long as no Default has occurred and is continuing, the
Borrower, either be in an Revolving Loan Commitment of, and Obligations owing
to, the assigning Lender or (unless each of the Borrower and the Agent otherwise
consents) be in an aggregate amount equal to the lesser of (i) the entire
applicable Revolving Loan Commitment and Obligations held by such Lender
hereunder and (ii) $5,000,000.  The amount of the assignment shall be
based on the Revolving Loan Commitment and Obligations subject to the
assignment, determined as of the date of such assignment or as of the “Trade
Date,” if the “Trade Date” is specified in the Assignment
Agreement.

       

      (B) Consents.  The
consent of the Borrower shall be required prior to an assignment becoming
effective unless the Purchaser is a Lender, an Affiliate of a Lender or an
Approved Fund, provided that the
consent of the Borrower shall not be required if (i) if a Default or Unmatured
Default has occurred and is continuing, (ii) in connection with any pledge or
assignment by any Lender of all or any portion of its rights under this
Agreement and any Note to a Federal Reserve Bank or (iii) if such assignment is
in connection with the physical settlement of any Lender’s obligations to direct
or indirect contractual counterparties in swap agreements relating to the Loans
and/or Letters of Credit.  The consent of the Agent and the Issuing
Bank shall be required prior to an assignment becoming effective.  Any
consent required under this Section 13.3(B) shall
not be unreasonably withheld or delayed.

       

      (C) Effect; Effective
Date.  Upon (i) delivery to the Agent and the Alternate
Currency Bank of an Assignment Agreement, together with any consents required by
Sections
13.3(A) and 13.3(B), and (ii)
payment of a $3,500 fee by the assignee or the assignor (as agreed) to the Agent
for processing such assignment (unless such fee is waived by the Agent or unless
such assignment is made to such assigning Lender’s Affiliate), such assignment
shall become effective on the effective date specified in such
assignment.  The Assignment Agreement shall contain a representation
and warranty by the Purchaser to the effect that none of the funds, money,
assets or other consideration used to make the purchase and assumption of the
applicable Commitment and Obligations under the applicable Assignment Agreement
constitutes “plan assets” as defined under ERISA and that the rights, benefits
and interests of the Purchaser, if not already a Lender, in and under the Loan
Documents will not be “plan assets” under ERISA.  On and after the
effective date of such assignment, such Purchaser shall for all purposes be a
Lender party to this Agreement and any other Loan Document executed by or on
behalf of the Lenders and shall have all the rights, benefits and obligations of
a Lender under the Loan Documents, to the same extent as if it were an original
party thereto, and the transferor Lender shall be released with respect to the
applicable Revolving Loan Commitment and Obligations assigned to such Purchaser
without any further consent or action by the Borrowers, the Alternate Currency
Bank, the Lenders or the Agent.  In the case of an assignment covering
all of the assigning Lender’s rights, benefits and obligations under this
Agreement, such Lender shall cease to be a Lender hereunder but shall continue
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      subject
to, those provisions of this Agreement and the other Loan Documents which
survive payment of the Obligations and termination of the Loan
Documents.  Any assignment or transfer by a Lender of rights or
obligations under this Agreement that does not comply with this Section 13.3 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
13.2.  Upon the consummation of any assignment to a Purchaser
pursuant to this Section 13.3(C), the
transferor Lender, the Agent and the Borrowers shall, if the transferor Lender
or the Purchaser desires that its Loans be evidenced by promissory notes, make
appropriate arrangements so that, upon cancellation and surrender to the
Borrowers of the previously issued promissory notes (if any) held by the
transferor Lender, new promissory notes issued hereunder or, as appropriate,
replacement promissory notes are issued to such transferor Lender, if
applicable, and new promissory notes or, as appropriate, replacement promissory
notes, are issued to such Purchaser, in each case in principal amounts
reflecting their respective Revolving Loan Commitments (or, if the Revolving
Loan Termination Date has occurred, their respective Obligations), as adjusted
pursuant to such assignment.  Notwithstanding anything to the contrary
herein, no Borrower shall, at any time, be obligated to make payments under
Section 2.15(E)
to any Lender that is an assignee or transferee any sum in excess of the sum
which such Borrower would have been obligated to pay to the Lender that is an
assignor or transferor had such assignment or transfer not been
effected.

       

      (D) The
Register.  The Agent, acting solely for this purpose as an
Agent of the Borrowers (and the Borrowers hereby designate the Agent to act in
such capacity), shall maintain at one of its offices in Chicago, Illinois a copy
of each Assignment Agreement delivered to it and a register (the “Register”) for the recordation of the
names and addresses of the Lenders, and the Revolving Loan Commitment of, and
principal amounts of and interest on the Loans owing to, each Lender pursuant to
the terms hereof from time to time and whether such Lender is an original Lender
or the assignee of another Lender pursuant to an assignment under this Section
13.3.  The entries in the Register shall be conclusive and
binding for all purposes, absent manifest error, and the Borrower, each of its
Subsidiaries, the Agent and the Lenders may treat each Person whose name is
recorded in the Register as a Lender hereunder for all purposes of this
Agreement.  The Register shall be available for inspection by the
Borrower or any Lender, at any reasonable time and from time to time upon
reasonable prior notice.

       

      13.4. Confidentiality.  Subject
to Section 13.5,
the Agent and the Lenders and their respective representatives shall hold all
nonpublic information obtained pursuant to the requirements of this Agreement
and identified as such by the Borrower in accordance with such Person’s
customary procedures for handling confidential information of this nature and in
accordance with safe and sound commercial lending or investment practices and in
any event may make disclosure reasonably required by a prospective Transferee in
connection with the contemplated participation or assignment or as required or
requested by any Governmental Authority or any securities exchange or similar
self-regulatory organization or representative thereof or pursuant to a
regulatory examination or legal process, or to any direct or indirect
contractual counterparty in swap agreements or such contractual counterparty’s
professional advisor, and shall require any such Transferee to agree (and
require any of its Transferees to agree) to comply with this Section 13.4.  In
no event shall the Agent or any Lender be obligated or required to return any
materials furnished by the Borrowers; provided, however, each
prospective Transferee shall be required to agree that if it does not become a
participant or assignee it shall return all materials furnished to it by or on
behalf of the Borrowers in connection with this Agreement.

       

      13.5. Dissemination of
Information.  Each Borrower authorizes each Lender to disclose
to any Participant or Purchaser or any other Person acquiring an interest in the
Loan Documents by operation of 

       

       

      
        
          
          

        

        
          105

          
            

          

        

        
          
          

        

      

       

      law (each
a “Transferee”) and any prospective
Transferee any and all information in such Lender’s possession concerning the
Borrower and its Subsidiaries; provided that prior
to any such disclosure, such prospective Transferee shall agree to preserve in
accordance with Section 13.4 the
confidentiality of any confidential information described therein.

       

      13.6. Tax
Certifications.  If any interest in any Loan Document is
transferred to any Transferee which is not incorporated under the laws of the
United States or any State thereof, the transferor Lender shall cause such
Transferee, concurrently with the effectiveness of such transfer, to comply with
the provisions of Section 2.15(E) and
Article
IV.

       

      ARTICLE  XIV:  NOTICES

       

      14.1. Giving
Notice.  Except as otherwise permitted by Section 2.14 with
respect to Borrowing/Conversion/Continuation Notices, all notices and other
communications provided to any party hereto under this Agreement or any other
Loan Documents shall be in writing or by telex or by facsimile and addressed or
delivered to such party at its address set forth below its signature hereto or
at such other address as may be designated by such party in a notice to the
other parties.  Any notice, if mailed and properly addressed with
postage prepaid, shall be deemed given when received; any notice, if transmitted
by telex or facsimile, shall be deemed given when transmitted (answer back
confirmed in the case of telexes).

       

      14.2. Change of
Address.  Any Borrower, the Agent and any Lender may each
change the address for service of notice upon it by a notice in writing to the
other parties hereto.

       

      ARTICLE  XV:  COUNTERPARTS

       

      This
Agreement may be executed in any number of counterparts, all of which taken
together shall constitute one agreement, and any of the parties hereto may
execute this Agreement by signing any such counterpart.  This
Agreement shall be effective when it has been executed by the Borrower, the
Agent, the Departing Lenders and the Lenders and each party has notified the
Agent by telex or telephone, that it has taken such action.

       

      ARTICLE  XVI:   BORROWER
GUARANTEE

       

      In order
to induce the Lenders and the Alternate Currency Banks to extend credit
hereunder, the Borrower fully and unconditionally and irrevocably guarantees, as
a primary obligor and not merely as a surety, the Obligations attributable to
any Subsidiary Borrower or any Alternate Currency Borrower (including, without
limitation, interest accruing hereunder after the commencement of any case under
the United States Bankruptcy Code or any other bankruptcy-related rules or
legislation in any country in which any Subsidiary Borrower or any Alternate
Currency Borrower is organized, whether or not allowed as a claim in such case)
(the “Borrower
Guaranteed Obligations”).  The obligations of the Borrower
under this Article
XVI are referred to as the “Borrower
Guarantee”.  The Borrower further agrees that the Borrower
Guaranteed Obligations may be extended or renewed, in whole or in part, without
notice to or further assent from it, and that it will remain bound upon the
Borrower Guarantee hereunder notwithstanding any such extension or renewal of
the Borrower Guaranteed Obligations.

       

      The
Borrower waives presentment to, demand of payment from and protest to any
Subsidiary Borrower or any Alternate Currency Borrower of any of the Borrower
Guaranteed Obligations, and also waives notice of acceptance of its obligations
and notice of protest for nonpayment.  The obligations of the Borrower
hereunder shall not be affected by the failure of any Lender, any Alternate
Currency Bank 

       

       

      
        
          
          

        

        
          106

          
            

          

        

        
          
          

        

      

       

      or any
Agent to assert any claim or demand or to enforce any right or remedy against
any Subsidiary Borrower or any Alternate Currency Borrower under the provisions
of this Agreement, any Alternate Currency Addendum or any of the other Loan
Documents or otherwise, or, except as specifically provided therein, by any
rescission, waiver, amendment or modification of any of the terms or provisions
of this Agreement, any Alternate Currency Addendum, any of the other Loan
Documents or any other agreement.

       

      The
Borrower further agrees that its Borrower Guarantee hereunder constitutes a
promise of payment when due and not merely of collection, and waives any right
to require that any resort be had by any Lender or any Alternate Currency Bank
to any balance of any deposit account or credit on the books of any Lender or
any Alternate Currency Bank in favor of any Subsidiary Borrower or any Alternate
Currency Borrower or any other Person.

       

      The
Borrower agrees that its obligations under this Borrower Guarantee shall be
unconditional, irrespective of:

       

      (i) the
validity, enforceability, avoidance, novation or subordination of any of the
Borrower Guaranteed Obligations or any of the Loan Documents;

       

      (ii) the
absence of any attempt by, or on behalf of, any Lender, any Alternate Currency
Bank or any Agent to collect, or to take any other action to enforce, all or any
part of the Borrower Guaranteed Obligations whether from or against any
Subsidiary Borrower or any Alternate Currency Borrower, any other guarantor of
the Borrower Guaranteed Obligations or any other Person;

       

      (iii) the
election of any remedy by, or on behalf of, any Lender, any Alternate Currency
Bank or any Agent with respect to all or any part of the Borrower Guaranteed
Obligations;

       

      (iv) the
waiver, consent, extension, forbearance or granting of any indulgence by, or on
behalf of, any Lender, any Alternate Currency Bank or any Agent with respect to
any provision of any of the Loan Documents;

       

      (v) the
failure of any Agent to take any steps to perfect and maintain its security
interest in, or to preserve its rights to, any security or collateral for the
Borrower Guaranteed Obligations;

       

      (vi) the
election by, or on behalf of, any one or more of the Lenders, Alternate
Currency Banks or any Agent in any proceeding instituted under Chapter 11
of Title 11 of the United States Code (11 U.S.C. 101 et seq.) (the “Bankruptcy Code”) or other
bankruptcy-related rules or legislation in any country in which a Borrower is
organized, of the application of Section 1111(b)(2) of the Bankruptcy
Code;

       

      (vii) any
borrowing or grant of a security interest by any Subsidiary Borrower or any
Alternate Currency Borrower, as debtor-in-possession, under Section 364 of the
Bankruptcy Code or any other bankruptcy-related rules or regulations in any
country in which a Subsidiary Borrower or an Alternate Currency Borrower is
organized;

       

      (viii) the
disallowance, under Section 502 of the Bankruptcy Code or any other
bankruptcy-related rules or regulations in any country in which a Borrower is
organized, of all or 

       

       

      
        
          
          

        

        
          107

          
            

          

        

        
          
          

        

      

       

      any
portion of the claims of any of the Lenders, the Alternate Currency Banks or any
Agent for repayment of all or any part of the Borrower Guaranteed Obligations;
or

       

      (ix) any other
circumstance which might otherwise constitute a legal or equitable discharge or
defense of any Subsidiary Borrower or any Alternate Currency Borrower or any
Guarantor.

       

      The
obligations of the Borrower hereunder shall not be subject to any reduction,
limitation, impairment or termination for any reason, and shall not be subject
to any defense or setoff, counterclaim, recoupment or termination whatsoever, by
reason of the invalidity, illegality or unenforceability of the Borrower
Guaranteed Obligations, any impossibility in the performance of the Borrower
Guaranteed Obligations or otherwise.  The Lenders and the Alternate
Currency Banks, either themselves or acting through the Agents, are authorized,
without notice or demand and without affecting the liability of the Borrower
hereunder, from time to time, (a) to renew, extend, accelerate or otherwise
change the time for payment of, or other terms relating to, all or any part of
the Borrower Guaranteed Obligations, or to otherwise modify, amend or change the
terms of any of the Loan Documents; (b) to accept partial payments on all
or any part of the Borrower Guaranteed Obligations; (c) to take and hold
security or collateral for the payment of all or any part of the Borrower
Guaranteed Obligations, this Borrower Guarantee, or any other guaranties of all
or any part of the Borrower Guaranteed Obligations, (d) to exchange, enforce,
waive and release any such security or collateral; (e) to apply such
security or collateral and direct the order or manner of sale thereof as in
their discretion they may determine; (f) to settle, release, exchange,
enforce, waive, compromise or collect or otherwise liquidate all or any part of
the Borrower Guaranteed Obligations, this Borrower Guarantee, any other guaranty
of all or any part of the Borrower Guaranteed Obligations, and any security or
collateral for the Borrower Guaranteed Obligations or for any such
guaranty.

       

      The
Borrower consents and agrees that none of the Lenders, the Alternate Currency
Banks, the Agents or any Person acting for or on behalf of the Lenders, the
Alternate Currency Banks or the Agents shall be under any obligation to marshall
any assets in favor of the Borrower or against or in payment of any or all of
the Borrower Guaranteed Obligations.  The Borrower further agrees
that, to the extent that any Subsidiary Borrower, any Alternate Currency
Borrower, any Subsidiary Guarantor or any other guarantor of all or any part of
the Borrower Guaranteed Obligations makes a payment or payments to any Lender,
any Alternate Currency Bank or any Agent, or any Lender, any Alternate Currency
Bank or any Agent receives any proceeds of collateral for all or any part of the
Borrower Guaranteed Obligations, which payment or payments or any part thereof
are subsequently invalidated, declared to be fraudulent or preferential, set
aside and/or required to be repaid to any Subsidiary Borrower, any Alternate
Currency Borrower, the Borrower, such other guarantor or any other Person, or
their respective estates, trustees, receivers or any other party, under any
bankruptcy law, state, provincial or federal law, common law or equitable cause,
then, to the extent of such payment or repayment, the part of the Borrower
Guaranteed Obligations which has been paid, reduced or satisfied by such amount
shall be reinstated and continued in full force and effect as of the time
immediately preceding such initial payment, reduction or
satisfaction.

       

      In
furtherance of the foregoing and not in limitation of any other right which any
Agent, any Subsidiary Borrower or any Alternate Currency Borrower or any Lender
may have at law or in equity against the Borrower by virtue hereof, upon the
failure of any Subsidiary Borrower or any Alternate Currency Borrower to pay any
of the Borrower Guaranteed Obligations when and as the same shall become due,
whether at maturity, by acceleration, after notice of prepayment or otherwise,
the Borrower promises to and will, upon receipt of written demand by any Agent,
forthwith pay, or cause to be paid, in cash, the amount of such unpaid Borrower
Guaranteed Obligations.  The Borrower further agrees that if payment
in respect of any of the Borrower Guaranteed Obligations owed to any Lender or
any Alternate

       

       

      
        
          
          

        

        
          108

          
            

          

        

        
          
          

        

      

       

      Currency
Bank shall be due in a currency other than Dollars and/or at a place of payment
other than as designated in this Agreement or any Alternate Currency Addendum
and if, by reason of any change in law, disruption of currency or foreign
exchange markets, war or civil disturbance or other event, payment of such
Borrower Guaranteed Obligations in such currency or such place of payment shall
be impossible or, in the judgment of such Lender or Alternate Currency Bank, not
consistent with the protection of its rights or interests, then, at the election
of such Lender or Alternate Currency Bank, the Borrower shall make payment of
such Borrower Guaranteed Obligation in Dollars (based upon the applicable
exchange rate in effect on the date of payment) and/or in the applicable place
designated in this Agreement or the applicable Alternate Currency Addendum, and
shall indemnify such Lender or Alternate Currency Bank against any losses or
expenses that it shall sustain as a result of such alternative
payment.

       

      Until the
Borrower Guaranteed Obligations shall have been fully and indefeasibly paid (in
cash) and discharged and this Agreement and all financing arrangements between
any Subsidiary Borrower or any Alternate Currency Borrower, the Agent, the
Alternate Currency Banks and the Lenders shall have been terminated, the
Borrower (i) shall have no right of subrogation with respect to such Borrower
Guaranteed Obligations and (ii) waives any right to enforce any remedy which the
Lenders, the Alternate Currency Banks or any Agent (or any of them) now have or
may hereafter have against any Subsidiary Borrower or any Alternate Currency
Borrower, any endorser or any guarantor of all or any part of the Borrower
Guaranteed Obligations or any other Person, and the Borrower waives any benefit
of, and any right to participate in, any security or collateral given to the
Lenders, the Alternate Currency Banks and any Agent (or any of them) to secure
the payment or performance of all or any part of the Borrower Guaranteed
Obligations or any other liability of any Subsidiary Borrower or any Alternate
Currency Borrower to the Lenders, the Alternate Currency Banks or any Agent (or
any of them).

       

      This
Borrower Guarantee shall continue in full force and effect and may not be
terminated or otherwise revoked until the Borrower Guaranteed Obligations shall
have been fully and indefeasibly paid (in cash) and discharged and this
Agreement and all financing arrangements between any Subsidiary Borrower, any
Alternate Currency Borrower, the Agents, the Alternate Currency Banks and the
Lenders shall have been terminated.  If, notwithstanding the
foregoing, the Borrower shall have any right under applicable law to terminate
or revoke this Borrower Guarantee, the Borrower agrees that such termination or
revocation shall not be effective until a written notice of such revocation or
termination, specifically referring hereto, signed by Borrower, is actually
received by the Agent.  Such notice shall not affect the right and
power of any of the Lenders, the Alternate Currency Banks or the Agents to
enforce rights arising prior to receipt thereof by the Agent.  If any
Lender or any Alternate Currency Bank grants loans or takes other action after
the Borrower terminates or revokes this Borrower Guarantee but before the Agent
receives such written notice, the rights of such Lender with respect thereto
shall be the same as if such termination or revocation had not
occurred.

       

      

       

      [Remainder of This Page
Intentionally Blank]

       

       

      
        
          
          

        

        
          109

          
            

          

        

        
          
          

        

      

       

      IN
WITNESS WHEREOF, the Borrower, the Lenders, the Departing Lenders and the Agents
have executed this Agreement as of the date first above written.

       

      
        
          	 
      	
                  SCHAWK, INC., as the
      Borrower

                   

                  By: /s/Timothy J.
      Cunningham                   
      

                  Timothy J.
      Cunningham

                  Chief Financial
      Officer

                   

                
	 
      	
                  Address:  1695
      South River Road

                  Des
      Plaines, Illinois  60018

                   

                  Attention:
      Chief Financial Officer

                  Telephone
      No.:  (847) 827-9494 ext. 235

                  Facsimile
      No.:   (847) 827-7770

                   

                
	 
      	
                  SCHAWK USA INC., as a
      Subsidiary Borrower

                   

                  By:/s/Timothy J.
      Cunningham                   
      

                  Timothy J.
      Cunningham

                  Chief Financial
      Officer

                   

                
	 
      	
                  Address:  1695
      South River Road

                  Des
      Plaines, Illinois  60018

                   

                  Attention:
      Chief Financial Officer

                  Telephone
      No.:  (847) 827-9494 ext. 235

                  Facsimile
      No.:   (847)
827-7770

                

        

      

       

       

      
        
          
            Signature Page to Amended and Restated Credit
Agreement

            Schawk, Inc.

            January 2010

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

        

        
          	 
      	
                  JPMORGAN CHASE BANK,
      N.A.,

                  as
      Agent, as Collateral Agent, as Swing Line Lender, as Issuing Bank and as a
      Lender

                   

                  By:/s/Robert E. Whitecotton                   
      

                  Name:  Robert E.
      Whitecotton

                  Title:  Vice
      President

                

        

         

         

        
          
            
              Signature Page to Amended and Restated Credit
Agreement

              Schawk, Inc.

              January 2010

            

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

        
          
            	 
      	
                    BANK
      OF AMERICA, N.A.,

                    as
      a Co-Syndication agent and individually

                    
 

                    By: /s/Adam M. Goettsche                               
         

                    Name:  Adam M.
      Goettsche

                    Title:  Senior Vice
      President

                  

          

           

           

          
            
              
                Signature Page to Amended and Restated Credit
Agreement

                Schawk, Inc.

                January 2010

              

              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

           

          
            
              
                	 
      	
                        WELLS
      FARGO BANK, NATIONAL ASSOCIATION,

                        as
      a Co-Syndication Agent and individually as a Lender

                         

                        By: /s/Jim Edwards      
                                                                  

                        Name:  Jim
      Edwards

                        Title:  Senior Vice
      President

                      

              

               

               

              
                
                  
                    Signature Page to Amended and Restated Credit
Agreement

                    Schawk, Inc.

                    January 2010

                  

                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                

              

               

              
                
                  
                    	 
      	
                            NORTH
      SHORE COMMUNITY BANK & TRUST COMPANY,

                            as
      Documentation Agent and individually as a Lender

                            
 

                            By: /s/Eric M. Edelheit              
                                                                   

                            Name:  Eric M.
      Edelheit

                            Title:  Vice
      President

                          

                  

                   

                   

                  
                    
                      
                        Signature Page to Amended and Restated Credit
Agreement

                        Schawk, Inc.

                        January 2010

                      

                      
                      

                    

                    
                      
                      

                      
                        

                      

                    

                    
                      
                      

                    

                  

                   

                

              

            

          

          
            
              
                
                  	 
      	
                          PCN
      BANK, NATIONAL ASSOCIATION,

                          as
      Lender

                          
 

                          By: /s/Stephanie Kline                                          

                          Name:  Stephanie
      Kline

                          Title:  Senior Vice
      President

                        

                

                 

                 

                
                  
                    
                      Signature Page to Amended and Restated Credit
Agreement

                      Schawk, Inc.

                      January 2010

                    

                    
                    

                  

                  
                    
                    

                    
                      

                    

                  

                  
                    
                    

                  

                

                 

              

            

          

          
            Departing
Lenders:

            

            
              	 
      	
                      THE
      NORTHERN TRUST COMPANY,

                      as
      a Departing Lender

                       

                      By:/s/Thomas
      Hasenauer             
                         
      

                      Name:  Thomas
      Hasenauer

                      Title:  Vice
      President

                    

            

             

            
               

              
                
                  
                    Signature Page to Amended and Restated Credit
Agreement

                    Schawk, Inc.

                    January 2010

                  

                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                

              

               

            

            
              
                	 
      	
                        ASSOCIATED
      BANK, N.A.,

                        as
      a Departing Lender

                         

                        By:/s/Jake Goldstein                 
                                      
      

                        Name:  Jake
      Goldstein

                        Title:  Vice
      President

                      

              

               

            

            

            
              
                
                  Signature Page to Amended and Restated Credit
Agreement

                  Schawk, Inc.

                  January 2010ex10-2.htm

    
      EXHIBIT
10.2

      
        

        

      

       

      SCHAWK,
INC.

       

       

      ______________________________

       

      SECOND
AMENDMENT

      Dated as
of January 12, 2010

       

      to

       

      NOTE
PURCHASE AND PRIVATE SHELF AGREEMENT

      Dated as
of January 28, 2005

       

      ______________________________

       

       

      Re:
$10,000,000 4.81% Series C Senior Notes Due January 28, 2010

      $20,000,000
4.99% Series D Senior Notes Due January 28, 2011

      and

      $20,000,000
5.17% Series E Senior Notes Due January 28, 2012

      of

      Schawk,
Inc.

       

      DATED AS
OF JANUARY 12, 2010

       

      
 

      
        

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      SECOND
AMENDMENT TO NOTE AGREEMENT

       

      THIS
SECOND AMENDMENT dated as of January 12, 2010 (the or this “Second Amendment”) to the
Note Purchase and Private Shelf Agreement dated as of January 28, 2005 is
between SCHAWK, INC., a Delaware corporation (the “Company”), and each of the
institutions which is a signatory to this Second Amendment (collectively, the
“Noteholders”).

       

      RECITALS:

       

      A.           The
Company and each of the Noteholders have heretofore entered into the Note
Purchase and Private Shelf Agreement dated as of January 28, 2005 (as amended by
that certain First Amendment to Note Agreement dated as of June 11, 2009 and as
the same may otherwise be amended, modified and supplemented from time to time,
the “Note
Agreement”).  The Company has heretofore issued the $10,000,000
4.81% Series C Senior Notes Due January 28, 2010 dated January 28, 2005, the
$20,000,000 4.99% Series D Senior Notes Due January 28, 2011 dated January 28,
2005, and the $20,000,000 5.17% Series E Senior Notes Due January 28, 2012 dated
January 28, 2005 (collectively, the “Notes”) pursuant to the Note
Agreement.

       

      B.           The
Company and the Noteholders now desire to amend the Note Agreement in the
respects, but only in the respects, hereinafter set forth.

       

      C.           Capitalized
terms used herein shall have the respective meanings ascribed thereto in the
Note Agreement unless herein defined or the context shall otherwise
require.

       

      D.           All
requirements of law have been fully complied with and all other acts and things
necessary to make this Second Amendment a valid, legal and binding instrument
according to its terms for the purposes herein expressed have been done or
performed.

       

      NOW,
THEREFORE, upon the full and complete satisfaction of the conditions precedent
to the effectiveness of this Second Amendment set forth in Section 3.1 hereof,
and in consideration of good and valuable consideration the receipt and
sufficiency of which is hereby acknowledged, the Company and the Noteholders do
hereby agree as follows:

       

      SECTION
1.   AMENDMENTS
TO NOTE AGREEMENT.

       

      Section
1.1. Section
8.8 of the Note Agreement shall be and is hereby amended in its entirety to read
as follows:

       

       “Section 8.8.  Reserved.”

       

      Section
1.2. The
introductory phrase of Section 9.6 of the Note Agreement shall be and is hereby
amended in its entirety to read as follows:

       

      The
Company will cause any Subsidiary which is required by the terms of the Bank
Credit Agreement to become, or otherwise becomes, a party to, or otherwise
guarantee, Debt in respect of the Bank Credit Agreement or which becomes a party
to, or otherwise 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      guaranties,
any other Debt of the Company, to enter into the Subsidiary Guaranty and deliver
to Prudential and each of the holders of the Notes (concurrently with the
incurrence of any such obligation pursuant to the Bank Credit Agreement or with
respect to such other Debt) the following items:

       

      Section
1.3. Each
occurrence of the parenthetical phrase “(as defined in the Bank Credit
Agreement)” set forth in Section 9.6 of the Note Agreement shall be and is
hereby amended in its entirety to read as follows: “(as defined in the Bank
Credit Agreement as in effect on the Amendment No. 2 Effective
Date)”.

       

      Section
1.4. Section
10.6 of the Note Agreement shall be and is hereby amended in its entirety to
read as follows:

       

      “Section
10.6.  Restricted
Payments.  The Company shall not declare or make any Restricted
Payment, except Restricted Payments in an amount not to exceed $5,000,000 in the
aggregate during any fiscal year of the Company and except Restricted Payments
by a Subsidiary to the Company or another Subsidiary; provided, however, that in no
event shall any Restricted Payments (other than Restricted Payments to the
Company) be declared or made if either a Default or an Event of Default shall
have occurred and be continuing at the date of declaration or payment thereof or
would result therefrom.”

       

      Section
1.5. Section
10.7 of the Note Agreement shall be and is hereby amended in its entirety to
read as follows:

       

      “Section 10.7.  Conduct of Business; Subsidiaries;
Acquisitions.  Neither the Company nor any of its Subsidiaries
shall engage in any business other than the businesses engaged in by the Company
on the date hereof and any business or activities which are substantially
similar, related or incidental thereto or logical extensions
thereof.  The Company shall not create, acquire or capitalize any
Subsidiary after the date hereof unless (i) no Event of Default or Default which
is not being cured shall have occurred and be continuing or would result
therefor; (ii) after such creation, acquisition or capitalization, all of the
representations and warranties contained herein shall be true and correct in all
material respects (unless such representation and warranty is made as of a
specific date, in which case, such representation or warranty shall be true in
all material respects as of such date); and (iii) after such creation,
acquisition or capitalization the Company shall be in compliance with the terms
of Sections 9.6 and 9.9 hereof.  The Company shall not make any
Acquisitions, other than Acquisitions meeting the following requirements or
otherwise approved by the Required Holders (each such Acquisition constituting a
“Permitted
Acquisition”):

       

      (a) no
Default or Event of Default shall have occurred and be continuing or would
result from such Acquisition or the incurrence of any Debt in connection
therewith;

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      (b) after
giving effect to such transaction, the aggregate of all Foreign Subsidiary
Investments would not exceed the Permitted Foreign Subsidiary Investment
Amount;

       

      (c) in the
case of an Acquisition of Capital Stock of an entity, the Acquisition shall be
of at least fifty-one percent (51%) of the Capital Stock of such entity, and
such acquired entity shall be (i) merged with and into the Company immediately
following such Acquisition, with the Company being the surviving corporation
following such merger or (ii) the results of operations of such entity shall be
reported on a consolidated basis with the Company and its consolidated
Subsidiaries;

       

      (d) the
purchase is consummated pursuant to a negotiated acquisition agreement on a
non-hostile basis;

       

      (e) the
Company shall deliver to the holders of the Notes a certificate from one of the
Authorized Officers, demonstrating to the satisfaction of the Required Holders
that after giving effect to such Acquisition and the incurrence of any Debt
permitted by Section 10.1 in connection therewith, on a pro forma basis using
historical audited or reviewed unaudited financial statements obtained from the
seller(s) in respect of each such Acquisition as if the Acquisition and such
incurrence of Debt had occurred on the first day of the twelve-month period
ending on the last day of the Company’s most recently completed fiscal quarter,
the Company would have been in compliance with the financial covenants in
Section 10.19 and that an Event of Default has not otherwise
occurred;

       

      (f) the
purchase price for the Acquisition (including the incurrence or assumption of
any Debt in connection therewith) shall not, when aggregated with the purchase
price and such Debt for all other Acquisitions during any rolling period of
twelve consecutive months, exceed without the prior written consent of the
Required Holders the Maximum Acquisition Amount; and

       

      (g) the
businesses being acquired shall be substantially similar, related or incidental
to, or a logical extension of, the businesses or activities engaged in by the
Company on the date hereof.”

       

      Section
1.6. Section
10.15 of the Note Agreement shall be and is hereby amended in its entirety to
read as follows:

       

      “Section 10.15.  Hedging
Obligations.  The Company shall not and shall not permit any of
its Subsidiaries to enter into any interest rate, commodity or foreign currency
exchange, swap, collar, cap or similar agreements evidencing Hedging
Obligations, other than interest rate, foreign currency or commodity exchange,
swap, collar, cap or similar, agreements entered into by the Company or any
Subsidiary pursuant to which the Company or any Subsidiary has hedged its actual
interest rate, foreign currency or commodity exposure.”

       

      Section
1.7. Section
10.17 of the Note Agreement shall be and is hereby amended in its entirety to
read as follows:

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      “Section 10.17.  Most
Favored Lender.  If the Company, or any of its Subsidiaries,
enters into (i) any amendment, restatement, supplement, waiver or modification
to the Bank Credit Agreement (or the documents related to any extension,
refinancing, refunding or renewal thereof) or the 2003 Note Agreement that
amends, restates, supplements or modifies any of the covenants, events of
default or related definitions used in the Bank Credit Agreement (or the
documents related to any extension, refinancing, refunding or renewal thereof)
or in the 2003 Note Agreement or (ii) any document related to any extension,
refinancing, refunding or renewal thereof that includes covenants, events of
default or related definitions, such that , in any case, any of such covenants,
events of default or related definitions are more restrictive than, or in
addition to (the “More Restrictive Provisions”), the covenants, events of
default or related definitions contained in this Agreement, then (a) the Company
will give the holders of the Notes prior written notice thereof, (b) this
Agreement shall be deemed to be automatically amended to add the More
Restrictive Provisions hereto and otherwise afford the holders of the Notes with
the benefit thereof without any action by the Company or any holder of any Note,
provided that the Required Holders may elect in writing not to have any one or
more More Restrictive Provisions added to this Agreement, and (c) the Company
shall, upon the request of the holders of the Notes (i) enter into an amendment
to this Agreement, in form and substance satisfactory to the holders of the
Notes, to evidence the addition of such More Restrictive Provisions (other than
any More Restrictive Provisions that the Required Holders elect in writing to
exclude) to this Agreement for the benefit of holders of the Notes, and (ii)
agree to satisfy any conditions precedent to the effectiveness of such
amendment.”

       

      Section
1.8. Section
10.19 of the Note Agreement shall be and is hereby amended in its entirety to
read as follows:

       

      “Section 10.19.  Financial
Covenants.

       

      (a) Minimum Fixed Charge
Coverage Ratio.  The Company and its consolidated Subsidiaries
shall maintain a ratio (“Fixed
Charge Coverage Ratio”) of:

       

      (i) EBITDA
during such period, to

       

      (ii) the sum
of the amounts, without duplication, of (a) Interest Expense during such period
(net of interest income) plus (b) scheduled
principal payments of Debt not incurred under a revolving credit facility
excluding, however, principal payments of the PIK Notes and the 2003 PIK Notes
and principal payments of Withdrawal Liability plus (or minus with
respect to tax benefits) (c) Company’s income tax provision calculated in
accordance with GAAP for such period plus (d) scheduled
principal payments of Capital Lease Obligations during such period,

       

      which
shall not be less than the applicable ratio set forth below for each
corresponding four (4) fiscal quarter period beginning with the four (4) fiscal
quarter period ending with the end of the applicable fiscal quarter of the
Company set forth below.  As used herein, “Withdrawal Liability” means
any amounts owing by the Company to the Graphic 

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      Communications
Union (“GCU”) or a trust
or fund or Plan administered by GCU as a result of the Company terminating its
participation in a Supplemental Retirement and Disability Fund for the Company’s
employees at its facility in Minneapolis, Minnesota, as described in Note 16 to
the financial statements contained in the Company’s Form 10-K for the fiscal
year ending December 31, 2008.  In each case, the Fixed Charge
Coverage Ratio shall be determined as of the last day of each fiscal quarter for
the four (4) fiscal quarter period ending on such day (the “Last Twelve-Month Period”),
provided, that
the Fixed Charge Coverage Ratio shall be calculated, with respect to Permitted
Acquisitions, on a pro forma basis using
historical audited and reviewed unaudited financial statements obtained from the
seller(s) in such Permitted Acquisition, broken down by fiscal quarter as if
such Permitted Acquisition (including the uses and applications of proceeds in
respect thereof and the Debt incurred in conjunction therewith) had occurred on
the first day of the Last Twelve-Month Period (the “Measurement Period”)
(excluding cost savings), provided such pro forma statements
shall be substantiated by supporting information reasonably acceptable to the
Required Holders.  Interest Expense shall be calculated for the
purpose of clause
(ii) by excluding the effect of amortization of deferred financing fees,
to the extent it is an Interest Expense.

       

      
        
          	
                  
                    Last
      Twelve-Month Period Ending

                  

                	
                  
                    Minimum
      Fixed Charge Coverage Ratio

                  

                
	 
      	 
      
	
                  March
      31, 2010

                	
                  1.20
      to 1.00

                
	
                  June
      30, 2010

                	
                  1.20
      to 1.00

                
	
                  September
      30, 2010

                	
                  1.20
      to 1.00

                
	
                  December
      31, 2010

                	
                  1.20
      to 1.00

                
	
                  March
      31, 2011

                	
                  1.20
      to 1.00

                
	
                  June
      30, 2011

                	
                  1.20
      to 1.00

                
	
                  September
      30, 2011

                	
                  1.20
      to 1.00

                
	
                  December
      31, 2011 and the last

                  day
      of each fiscal quarter thereafter

                  ending

                	
                  1.25
      to 1.00

                

        

      

       

      
        (b) Maximum Cash Flow Leverage
Ratio.  The Company and its consolidated Subsidiaries shall not
permit the ratio (the “Cash
Flow Leverage Ratio”) of (i) Total Funded Debt to (ii) EBITDA to be
greater than the applicable ratio set forth below for each corresponding four
(4) fiscal quarter period ending with the end of the applicable fiscal quarter
of the Company set forth below.  The Cash Flow Leverage Ratio shall be
calculated, in each case, determined as of the last day of each fiscal quarter
based upon (a) for Debt, Debt as of the last day of each such fiscal quarter;
and (b) for EBITDA, the actual amount for Last Twelve-Month Period, provided, that the
Cash Flow Leverage Ratio shall be calculated, with respect to Permitted
Acquisitions, on a pro forma basis using
historical audited and reviewed unaudited financial statements obtained from the
seller(s) in such Permitted Acquisition, broken down by fiscal quarter in the
Company’s reasonable judgment as if such Permitted Acquisition (including the
uses and applications 

      

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      of
proceeds in respect thereof and the Debt incurred in conjunction therewith) had
occurred on the first day of the Measurement Period (excluding cost savings),
provided such pro forma statements
shall be substantiated by supporting information reasonably acceptable to the
Required Holders.

       

      
        
          	
                  
                    Last
      Twelve-Month Period Ending

                  

                	
                  
                    Maximum
      Cash Flow Leverage Ratio

                  

                
	
                  March
      31, 2010

                	
                  2.75
      to 1.00

                
	
                  June
      30, 2010

                	
                  2.75
      to 1.00

                
	
                  September
      30, 2010

                	
                  2.75
      to 1.00

                
	
                  December
      31, 2010

                	
                  2.75
      to 1.00

                
	
                  March
      31, 2011

                	
                  2.75
      to 1.00

                
	
                  June
      30, 2011

                	
                  2.75
      to 1.00

                
	
                  September
      30, 2011

                	
                  2.75
      to 1.00

                
	
                  December
      31, 2011 and the last

                   day
      of each fiscal quarter thereafter

                  ending

                	
                  2.50
      to 1.00

                

        

      

       

      (c) Minimum Consolidated Net
Worth. The Company shall not permit its Consolidated Net Worth at any
time to be less than the sum of (a) $181,504,000 plus (b) fifty
percent (50%) of Net Income (if positive) calculated separately for each fiscal
quarter commencing with the fiscal quarter ending on December 31, 2009, plus (c) one hundred
percent (100%) of the net cash proceeds resulting from the issuance by the
Company of any Capital Stock other than shares of Capital Stock issued pursuant
to employee stock option or ownership plans commencing with the fiscal quarter
ending on December 31, 2009; provided, that, to
the extent that the Company takes a write-down of goodwill or other assets, if
recognized in connection with the sale of the Schawk LA or Cactus divisions of
the Company and related losses, in any fiscal year of the Company, an aggregate
amount of up to $25,000,000 of such write-down and losses shall be deducted from
the Consolidated Net Worth that would otherwise be required to be maintained
pursuant to the terms of this Section
10.19(c).

       

      (d) Maximum Capital
Expenditures.  The Company will not, nor will it permit any
Subsidiary to, expend, or be committed to expend, in excess of (i) an aggregate
of $18,500,000 for Capital Expenditures of the Company and its Subsidiaries
during any fiscal year of the Company, and (ii) an aggregate of $40,000,000 for
Capital Expenditures of the Company and its Subsidiaries during the period from
the Amendment No. 2 Effective Date to the Revolving Loan Termination Date (as
defined in the Bank Credit Agreement).”

       

      Section
1.9. The
following Defined Terms in Schedule B to the Note Agreement shall be and are
hereby amended as follows:

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      “Bank Credit Agreement” means
the Amended and Restated Credit Agreement dated as of January 12, 2010 by and
among the Company, certain Subsidiaries of the Company named therein, JPMorgan
Chase Bank, N.A., as agent and collateral agent, and the other financial
institutions party thereto, as amended, restated, joined, supplemented or
otherwise modified from time to time, and any renewals, extensions or
replacements thereof, in each case (x) in accordance with the terms of Section
10.17 of this Agreement and (y) which constitute the primary bank credit
facility of the Company and its Subsidiaries.

       

      “Debt” of a Person means,
without duplication, such Person’s (a) obligations for borrowed money,
including, without limitation, subordinated indebtedness, (b) obligations
representing the deferred purchase price of property or services (other than
accounts payable arising in the ordinary course of such Person’s business
payable on terms customary in the trade and other than earn-outs or other
similar forms of contingent purchase prices), (c) obligations, whether or not
assumed, secured by liens on or payable out of the proceeds or production from
property now or hereafter owned or acquired by such Person, (d) obligations
which are evidenced by notes, acceptances, or other instruments, (e) Capital
Lease Obligations, (f) outstanding principal balances (representing securitized
but unliquidated assets) under asset securitization agreements (including,
without limitation, the outstanding principal balance of accounts receivable
under receivables transactions) and (g) the implied debt component of synthetic
leases of which such Person is lessee or any other off-balance sheet financing
arrangements (including, without limitation, any such arrangements giving rise
to any Off-Balance Sheet Liabilities).

      

      “EBITDA” means, for any
period, on a consolidated basis for the Company and its Subsidiaries, the sum of
the amounts for such period, without duplication, of (a) Net Income, plus (b) Interest
Expense to the extent deducted in computing Net Income, plus (c) charges
against income for foreign, federal, state and local taxes to the extent
deducted in computing Net Income, plus (d) depreciation
expense to the extent deducted in computing Net Income, plus (e) amortization
expense, including, without limitation, amortization of goodwill and other
intangible assets to the extent deducted in computing Net Income, plus (f) acquisition,
integration, transformation and restructuring charges incurred in the first
three fiscal quarters of the Company’s 2009 fiscal year and in an aggregate
amount not to exceed $3,000,000, all in accordance with Agreement Accounting
Principles to the extent deducted in computing Net Income, plus (g) other
extraordinary non-cash charges to the extent deducted in computing Net Income,
minus (h) other
extraordinary non-cash credits to the extent added in computing Net Income,
plus (i)
non-cash expenses related to stock based compensation to the extent deducted in
computing Net Income, plus (j) charges
incurred as a result of impairment of fixed assets, intangible assets and
goodwill, all to the extent deducted in computing Net Income.  EBITDA
shall be calculated on a pro forma basis giving
effect to Acquisitions and Asset Sales on a last twelve (12) months’
basis.

       

      “Intercreditor Agreement”
means the Second Amended and Restated Intercreditor Agreement dated as of
January 12, 2010 among the Administrative Agent, the Collateral Agent and the
holders of the Notes and the holders of the 2003 Notes, as 

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

      the same
may be amended, restated, supplemented or otherwise modified from time to
time.

       

      “Interest Expense” means, for
any period, the total interest expense of the Company and its consolidated
Subsidiaries, whether paid or accrued (including the interest component of
Capital Leases, commitment fees and fees for stand-by letters of credit, the
discount with respect to asset securitization agreements and the implied
interest component of synthetic leases), all as determined in conformity with
Agreement Accounting Principles.  Interest Expense shall not include
any interest which in accordance with Agreement Accounting Principles has been
capitalized under the PIK Notes and the 2003 PIK Notes.

       

      “Permitted Refinancing Debt”
means any replacement, renewal, refinancing or extension of any Debt permitted
by this Agreement that (a) does not exceed the aggregate principal amount (plus
accrued interest and any applicable premium and associated fees and expenses) of
the Debt being replaced, renewed, refinanced or extended, (b) does not have a
Weighted Average Life to Maturity at the time of such replacement, renewal,
refinancing or extension that is less than the Weighted Average Life to Maturity
of the Debt being replaced, renewed, refinanced or extended, (c) does not rank
at the time of such replacement, renewal, refinancing or extension senior to the
Debt being replaced, renewed, refinanced or extended, and (d) does not contain
terms (including, without limitation, terms relating to security, amortization,
interest rate, premiums, fees, covenants, event of default and remedies)
materially less favorable to the Company or to the holders of the Notes than
those applicable to the Debt being replaced, renewed, refinanced or
extended.

       

      “Pledge and Security
Agreement” means that certain Amended and Restated Pledge and Security
Agreement (including any and all supplements thereto) dated as of January 12,
2010 by and among the Domestic Note Parties and the Collateral Agent, for the
benefit of the Collateral Agent and the other holders of the Secured
Obligations.

       

      “2003 Note Agreement” means
the Note Purchase Agreement, dated December 23, 2003, between the Company and
the Purchasers named in the Purchaser Schedule attached thereto, as amended
through the Amendment No. 2 Effective Date and as further amended from time to
time.

       

      Section
1.10. The
following shall be added as new definitions in alphabetical order to the Defined
Terms in Schedule B to the Note Agreement:

       

      “Amendment No. 2” means that
certain Second Amendment to Note Purchase and Private Shelf Agreement dated as
of January 12, 2010 by and among the Company, each of the holders of the Notes
and the other parties a signatory thereto.

       

      “Amendment No. 2 Effective Date”
shall have the meaning set forth in Section 3 of Amendment No.
2.

       

      “Maximum Acquisition Amount”
means, for any rolling period of twelve consecutive months,
$50,000,000.

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

      Section
1.11. The
following Defined Terms in Schedule B to the Note Agreement shall be and are
hereby deleted in their entirety: “Acceptable Bank Credit Agreement” and
“Normalization Date”.

       

      SECTION
2. REPRESENTATIONS
AND WARRANTIES OF THE COMPANY.

       

      Section
2.1. To induce
the Noteholders to execute and deliver this Second Amendment (which
representations shall survive the execution and delivery of this Second
Amendment), the Company represents and warrants to the Noteholders
that:

       

      (a) this
Second Amendment has been duly authorized, executed and delivered by it and this
Second Amendment constitutes the legal, valid and binding obligation, contract
and agreement of the Company enforceable against the Company in accordance with
its terms, except as enforcement may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar laws or equitable principles relating to
or limiting creditors’ rights generally;

       

      (b) the Note
Agreement, as amended by this Second Amendment, constitutes the legal, valid and
binding obligation, contract and agreement of the Company enforceable against it
in accordance with its terms, except as enforcement may be limited by
bankruptcy, insolvency, reorganization, moratorium or similar laws or equitable
principles relating to or limiting creditors’ rights generally;

       

      (c) the
execution, delivery and performance by the Company of this Second Amendment (i)
has been duly authorized by all requisite corporate action and, if required,
shareholder action, (ii) does not require the consent or approval of any
governmental or regulatory body or agency, and (iii) will not (A) violate (1)
any provision of law, statute, rule or regulation or its certificate of
incorporation or bylaws, (2) any order of any court or any rule, regulation or
order of any other agency or government binding upon it, or (3) any provision of
any material indenture, agreement or other instrument to which it is a party or
by which its properties or assets are or may be bound, or (B) result in a breach
or constitute (alone or with due notice or lapse of time or both) a default
under any indenture, agreement or other instrument referred to in clause
(iii)(A)(3) of this Section 2.1(c);

       

      (d) as of the
date hereof and after giving effect to this Second Amendment, no Default or
Event of Default has occurred which is continuing and no condition exists which
has resulted in, or could reasonably be expected to have, a Material Adverse
Effect;

       

      (e) all the
representations and warranties contained in Section 5 of the Note Agreement and
in Section 5 of the Guaranty Agreement are true and correct in all material
respects with the same force and effect as if made by the Company and the
Subsidiary Guarantors, respectively, on and as of the date hereof;

       

      (f) all
Subsidiaries that are required to enter into the Subsidiary Guaranty or enter
into a joinder agreement in respect of the Subsidiary Guaranty pursuant to
Section 9.6 of the Note Agreement have so entered into the Subsidiary Guaranty
or a joinder 

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      agreement
in respect of the Subsidiary Guaranty and are listed on the signature pages to
this Second Amendment as Subsidiary Guarantors; and

       

      (g) other
than as expressly set forth in the Bank Credit Agreement or as otherwise
disclosed by the Company to the Noteholders on or prior to the Amendment No. 2
Effective Date, neither the Company nor any of its Subsidiaries on or prior to
the Amendment No. 2 Effective Date has paid or agreed to pay, nor will the
Company or any of its Subsidiaries pay or agree to pay on or prior to the
Amendment No. 2 Effective Date, any fees or other compensation to the
Administrative Agent, any Bank Lender or any holder of the 2003 Notes for or
with respect to the Bank Credit Agreement or the 2003 Note Agreement Third
Amendment (other than for the reimbursement of out of pocket expenses in
connection therewith).

       

      SECTION
3. CONDITIONS
TO EFFECTIVENESS OF THIS SECOND AMENDMENT.

       

      Section
3.1. This
Second Amendment shall not become effective until, and shall become effective
when, each and every one of the following conditions shall have been
satisfied:

       

      (a) executed
counterparts of this Second Amendment, duly executed by the Company and the
holders of the Notes, shall have been delivered to the Noteholders;

       

      (b) the
Company shall have delivered to the Noteholders executed copies of (i) the
Pledge and Security Agreement, (ii) the Bank Credit Agreement, (iii) the Third
Amendment to Note Purchase Agreement dated as of the date hereof among the
Company and the holders of the 2003 Notes (the “2003 Note Agreement Third
Amendment”), and (iv) the Intercreditor Agreement, and all related
agreements, documents and instruments, in each case, in connection therewith,
all of which shall be in form and substance satisfactory to the
Noteholders;

       

      (c) the
Company shall have prepaid the entire aggregate outstanding principal amount of
all PIK Notes, together with accrued interest thereon to the prepayment date
which has not previously been paid by adding such interest to the principal
balance of the PIK Notes;

       

      (d) the
representations and warranties of the Company set forth in Section 2 hereof are
true and correct on and with respect to the date hereof;

       

      (e) the
Noteholders shall have received the favorable opinion of counsel to the Company
as to the matters set forth in Sections 2.1(a), 2.1(b) and 2.1(c) hereof, which
opinion shall be in form and substance satisfactory to the Noteholders;
and

       

      (f) the
Company agrees to pay upon demand, the reasonable fees and expenses of Schiff
Hardin LLP, special counsel to the Noteholders, in connection with the
negotiation, preparation, approval, execution and delivery of this Second
Amendment.

       

      Upon
receipt of all of the foregoing, this Second Amendment shall become effective
(the “Amendment No. 2 Effective
Date”).

      

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      SECTION
4. MISCELLANEOUS.

       

      Section
4.1. This
Second Amendment shall be construed in connection with and as part of the Note
Agreement and, except as modified and expressly amended by this Second
Amendment, all terms, conditions and covenants contained in the Note Agreement,
the Guaranty Agreement and the Notes are hereby ratified and shall be and remain
in full force and effect.

       

      Section
4.2. Except as
modified and expressly amended by this Second Amendment, the execution, delivery
and effectiveness of this Second Amendment shall not (a) amend the Note
Agreement, the Guaranty Agreement or any Note, (b) operate as a waiver of any
right, power or remedy of any Noteholder, or (c) constitute a waiver of, or
consent to any departure from, any provision of the Note Agreement, the Guaranty
Agreement or any Note at any time.

       

      Section
4.3. Any and
all notices, requests, certificates and other instruments executed and delivered
after the execution and delivery of this Second Amendment may refer to the Note
Agreement without making specific reference to this Second Amendment but
nevertheless all such references shall include this Second Amendment unless the
context otherwise requires.  At all times on and after the Amendment
No. 2 Effective Date, each reference to the Note Agreement in any other
document, instrument or agreement shall mean and be a reference to the Note
Agreement as modified by this Second Amendment.

       

      Section
4.4. The
descriptive headings of the various Sections or parts of this Second Amendment
are for convenience only and shall not affect the meaning or construction of any
of the provisions hereof.

       

      Section
4.5. This
Second Amendment shall be governed by and construed in accordance with the laws
of the State of New York excluding choice-of-law principles of the law of such
State that would require the application of the laws of a jurisdiction other
than such State.

       

      [Signatures
on Following Page]

       

       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      The
execution hereof by you shall constitute a contract between us for the uses and
purposes hereinabove set forth, and this Second Amendment may be executed in any
number of counterparts, each executed counterpart constituting an original, but
all together only one agreement.

      
         

        
          	
                   
      

                	
                  Very
      truly yours,

                

        

      

       

      
        	
                 
      

              	
                SCHAWK,
      INC.

              

      

       

      
        	
                 
      

              	
                By:

              	
                /s/Timothy
      J. Cunningham________

              

      

      
        	
                 
      

              	
                Timothy
      J. Cunningham

              

      

      
        	
                 
      

              	
                Chief
      Financial Officer

              

      

       

      Each of
the Subsidiary Guarantors hereby (i) consents to the foregoing Second Amendment
and ratifies the amendments contained therein, (ii) ratifies and reaffirms all
of its obligations and liabilities under each Subsidiary Guaranty (as defined in
the Note Agreement referred to in the Second Amendment) notwithstanding the
Second Amendment or otherwise, (iii) confirms that each Subsidiary Guaranty
remains in full force and effect after giving effect to the Second Amendment,
(iv) represents and warrants that there is no defense, counterclaim or offset of
any type or nature under any Subsidiary Guaranty, (v) agrees that nothing in any
Subsidiary Guaranty, the Note Agreement, the Second Amendment or any other
agreement or instrument relating thereto requires the consent of any Subsidiary
Guarantor or shall be deemed to require the consent of any Subsidiary Guarantor
to any future amendment or other modification to the Note Agreement, and (vi)
waives acceptance and notice of acceptance hereof.

       

      
        	
                 
      

              	
                SCHAWK
      USA, INC.

              

      

       

       

      
        	
                 
      

              	
                By:

              	
                      
                  /s/Timothy
      J.
Cunningham________

                

              

      

      
        	
                 
      

              	
                      
                  Timothy
      J. Cunningham

                

              

      

      
        	
                 
      

              	
                      
                  Chief
      Financial Officer

                

              

      

       

      
        	
                 
      

              	
                SCHAWK
      WORLDWIDE HOLDINGS INC.

              

      

       

       

      
        	
                 
      

              	
                By:

              	
                      
                  /s/Timothy
      J.
Cunningham________

                

              

      

      
        	
                 
      

              	
                      
                  Timothy
      J. Cunningham

                

              

      

      
        	
                 
      

              	
                      
                  Chief
      Financial Officer

                

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                 
      

              	
                SCHAWK
      HOLDINGS INC.

              

      

       

       

      
        	
                 
      

              	
                By:

              	
                      
                  /s/Timothy
      J.
Cunningham________

                

              

      

      
        	
                 
      

              	
                Timothy
      J. Cunningham

              

      

      
        	
                 
      

              	
                      
                  Chief
      Financial Officer

                

              

      

       

      
        	
                 
      

              	
                SEVEN
      SEATTLE, INC.

              

      

       

       

      
        	
                 
      

              	
                By:

              	
                      
                  /s/Timothy
      J.
Cunningham________

                

              

      

      
        	
                 
      

              	
                      
                  Timothy
      J. Cunningham

                

              

      

      
        	
                 
      

              	
                      
                  Chief
      Financial Officer

                

              

      

       

      
        	
                 
      

              	
                SCHAWK
      LLC

              

      

       

       

      
        	
                 
      

              	
                By:

              	
                      
                  /s/Timothy
      J.
Cunningham________

                

              

      

      
        	
                 
      

              	
                      
                  Timothy
      J. Cunningham

                

              

      

      
        	
                 
      

              	
                      
                  Chief
      Financial Officer

                

              

      

       

      
        	
                 
      

              	
                MIRAMAR
      EQUIPMENT, INC.

              

      

       

       

      
        	
                 
      

              	
                By:

              	
                      
                  /s/Timothy
      J.
Cunningham________

                

              

      

      
        	
                 
      

              	
                      
                  Timothy
      J. Cunningham

                

              

      

      
        	
                 
      

              	
                      
                  Chief
      Financial Officer

                

              

      

       

      
        	
                 
      

              	
                SCHAWK
      DIGITAL SOLUTIONS INC.

              

      

       

       

      
        	
                 
      

              	
                By:

              	
                      
                  /s/Timothy
      J.
Cunningham________

                

              

      

      
        	
                 
      

              	
                      
                  Timothy
      J. Cunningham

                

              

      

      
        	
                 
      

              	
                      
                  Chief
      Financial Officer

                

              

      

       

      
        	
                 
      

              	
                KEDZIE
      AIRCRAFT LLC

                 

                By:  SCHAWK USA Inc., its sole
  member

              

      

       

       

      
        	
                 
      

              	
                By:

              	
                      
                  /s/Timothy
      J.
Cunningham________

                

              

      

      
        	
                 
      

              	
                      
                  Timothy
      J. Cunningham

                

              

      

      
        	
                 
      

              	
                Chief
      Financial Officer

              

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          	
                  Accepted
      as of the date first written above.

                

        

         

        
          	
                  PRUDENTIAL
      INVESTMENT MANAGEMENT, INC.

                

        

         

         

        
          	
                  By:

                	
                  /s/Dianna D.
      Carr___________________________

                

        

        
          	
                   
      

                	
                  Name: 
      Dianna D. Carr

                

        

        
          	
                   
      

                	
                  Title:   
      Vice President

                

        

         

         

        
          	
                  THE
      PRUDENTIAL INSURANCE CMOPANY OF
AMERICA

                

        

         

         

        
          	
                  By:

                	
                        
                    /s/Dianna D.
      Carr___________________________

                  

                  Vice President

                

        

        
        

        
        

         

         

      

      
        
          	
                  RGA REINSURANCE COMPANY

                

        

         

         

        
          	
                  By:

                	
                  Prudential
      Private Placement Investors, L.P.
(as Investment
    Advisor)

                

        

        
        

        
        

         

        
          	
                  By:

                	
                  Prudential
      Private Placement Investors, Inc.
(as its General
    Partner)

                

        

         

         

        
          	
                  By:

                	
                        
                    /s/Dianna D.
      Carr___________________________

                  

                  Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}]]